Learning Object Oriented Programming With Delphi

Online Delphi OOP Course submitted by John Barrow Part 1 Introduction to OO basics Chapter 1Chapter 2Chapter 3 Part 2 Introduction to class inheritance Chapter 4Chapter 5 Part 3 Programmer defined classes and objects Chapter 6Chapter 7 Part 4 Accessing an object and its data Chapter 8Chapter 9Chapter 10 Part 5 The Sender parameter and substitution Chapter 11 Part 6 Introducing type inheritance Chapter 12Chapter 13Chapter 14 Part 7 Using and abusing inheritance Chapter 15Chapter 16 Part 8 Indirection Chapter 17Chapter 18 Part 9 Association Composition Chapter 19 Chapter 20Chapter 21 Part 10 Two Patterns Using Composition Chapter 22Chapter 23 Part 11 Some Patterns for varying behaviour Chapter 24 Part 12 Bidirectional links, Callbacks and Linking Classes Chapter 25 Part 13 Factory Patterns Chapter 26 Part 14 A Decorator Chapter 27

How to Protest Legally

The vast majority of protests are conducted peacefully and legally, but if youre new to protesting, attend a few organized protests before trying to organize your own. How to Protest Legally In the United States, the First Amendment of the U.S. Constitution prohibits the government from abridging your freedom of speech. This does not mean that you can protest anywhere you like in any way you like. What this means is that in a traditional public forum, the government cannot stop you from expressing yourself, but can impose reasonable time, place, and manner restrictions. A traditional public forum is a location where people have traditionally expressed themselves to the public, getting up on proverbial soap boxes or handing out leaflets. This includes public streets, sidewalks, and parks. So while the government cannot stop you from protesting in a public park, they can impose limits on the noise level or prohibit protesters from blocking the park entrance. This also means that you have a right to protest on the public sidewalk in front of a fur store, but not on the fur stores private property. Some people confuse government action with private action. The First Amendment does not apply to restrictions imposed by private individuals or companies, although other laws or parts of the Constitution or Bill of Rights might apply. This means that the government cannot stop the publication of a book that contains controversial protected speech, but a private book store can decide for itself that they wont carry that book. Get a Protest Permit if Possible Your best bet for a legal protest is to get a protest permit from the local police, but not every police department issues or requires protest permits. If youre concerned, ask the organizers if they have a permit, and what the restrictions on the protest are. The protest permit may limit the hours of the protest, or prohibit amplified sound. Protesters are sometimes required to keep moving along the sidewalk to avoid blocking the sidewalk for other pedestrians and to keep driveways and building entrances clear. Some towns may also prohibit sticks, so be prepared to remove any sticks from your protest sign, just in case. If the terms of the protest permit seem unreasonable, dont be afraid to speak up and contact an attorney. Even if no protest permit is required, its smart to notify the police of your intentions, to give the police time to prepare and schedule officers for safety and crowd control. It also holds your place in case someone else decides to hold a protest at the same time and location. Use Common Sense at the Protest While youre at the protest, use common sense. You cant control the public and you cant control the police, but you can control yourself. For a peaceful, legal protest, comply with the terms of the protest permit, the instructions of the protest organizers, and with the instructions of the police. Try to ignore hecklers who just want to fluster you. We wish we could say that the police are only there for everyones safety, which is true most of the time. But there are definitely instances when the police will try to infringe on your free speech rights because they disagree with you. They may try to enforce arcane laws against you or impose restrictions that arent mentioned in the protest permit. You might be in full compliance with all laws and the protest permit, and then suddenly be threatened with arrest if you dont comply with some new, arbitrary requirement that was made up by an officer on the spot. Inform the protest organizers, who may have an attorney they can call. Your demeanor should not be one of fun and games, A recent protest aired on CNN depicted protesters laughing, engaging in horseplay, smiling for the cameras and just generally giving the impression they are having the time of their lives. If you dont take your issue seriously, you cant expect others to either. Though you shouldnt be uber somber, there is a reason for a certain decorum which will convey a message that you are serious and determined.   Civil Disobedience Arrests at protests are rare, but participants sometimes intend to get arrested at a protest. Civil disobedience is, by definition, illegal. Responsible protest organizers may plan an act of civil disobedience (such as a sit-in) at a protest but will not knowingly put you at risk of being arrested unless you choose to take that risk. While civil disobedience is illegal, it is peaceful and helps spread the message of the protest by increasing media coverage and/or disrupting the target of the protest. The information on this website is not legal advice and is not a substitute for legal advice. For legal advice, please consult an attorney.    Updated and edited by Michelle A. Rivera, Animal Rights Expert

The Time Management Procedures I Have Developed - 1751 Words

Two time management procedures I have developed in my internship are keeping a weekly agenda and using a monthly calendar to keep track of larger tasks. Each Linbeck employee is asked to keep up with a PPC (promised percent complete) agenda. At the end of the week, you are expected to enter the meetings and tasks into a standard form. As you complete the tasks throughout the following week, you check off the line items. At the close of business on Friday, you are asked to grade your PPC. Any tasks that were not completed are marked as such, and you are required to explain why the task was not finished as promised. This practice gets me to work on only promising tasks that can be managed in the course of a week. In order to accommodate†¦show more content†¦Utilizing a white board in your office promotes a community atmosphere that allows for productive conversation. The main problem I have encountered is planning for the future. In the business world, it is impossible to tell what problems will come up. On any given day your priorities can change from that you have planned. It is important to recognize the highest priorities and to tackle those items first so that you can get to the items of lower priority before they become critical. I get to work each morning at 6:30. The first thing I do is check my PPC, email, and outstanding RFIs (requests for information) and submittals. Shortly afterwards I go to a daily engineer huddle where there is a discussion of each engineer’s planned tasks for the day. If there is time after the meeting, I like to walk the jobsite in order to get a feel for the work of all the disciplines onsite. Next, I get to work on the promised tasks for the day. Throughout the day, I am in and out of the jobsite office and visiting the work in the field to keep up with progress and make note of any issues. The three types of meetings I am a part of are OAC (owner, architect, contractor), preconstruction, and BIM (Building Information Modeling) coordination meetings. There is an OAC meeting on the first and third Tuesday of every month. Our architect flies in from California on the morning of the meeting, and spends

The Four Types of Conflict in Shattered - 851 Words

In the book, Shattered, the book is about a teen who begins to mature as he ages. The main character is starting to become more mature after he gets a placement at a soup kitchen. He starts to realise that there are many problems going on in the society. There are many types of conflicts that are going on around him. The four types of conflicts going on in the book are Human vs. Society, Human vs. Self, Human vs. Human and Human vs. Self. The one conflict that is really making this story apparent is Human vs. Society due to the Rwandan genocide. The Human vs. Self, Human vs. Human, Human vs. Self are the other conflicts that are making this story interesting after the Human vs. Society conflict. To Begin, the first type of conflict going†¦show more content†¦Jack states, One day youre there, trying to help, thinking that you can help, that you can be part of making a difference for these people, and then the next...youre nothing more than a witness to acts of unspeakable evi l( Walters, 116). In this quote Jack is expressing how he feels about not being able to help the people in trouble. This conflict relates to social justice because of the genocide that occurred in Rwanda. There was oppression, discrimination, and injustice going in the Rwandan genocide. Jack was in Rwanda at the time of the genocide but was not able to help the innocent Tutsis. If there was no social justice issue in Rwanda Jack would have been living a very peaceful life with his family. I think this conflict will be resolved when the government or authorities punish the Hutus for all of there impulsive behaviours against the Tutsis. Thirdly, the third type of conflict experienced in the book, Shattered, is Human vs. Human. The individuals involved in this conflict are Ian and Jack, Ian is trying to help jack forget about what had happened in Rwanda so that Jack can start to live a normal life again. Jack does not plan on listening to Ians advice on forgetting the whole Rwandan t ragedy Jack started to drink alcohol and smoke cigarettes, he wasted his money on buying alcohol and cigarettes which lead him to start living in theShow MoreRelatedBlood Red Sunset Book Review Essay1485 Words   |  6 Pagesnecessary to read an account of a person who actually lived in and survived it. Ma Bo’s autobiography gives a real account of what really happened. As Ma Bo’s story tells this nightmare was very real. His insight into this Inner China cultural conflict is just a taste of the reality at the time, but even this small yet detailed taste is quite bitter. 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Globalization and Its Impact on Bangladesh Economy Free Essays

Assignment On â€Å"Globalization and its Impact on Bangladesh Economy† (ECO 360, Section: 1) Assignment on â€Å"Globalization and its impact on Bangladesh Economy†. Subject: ECO 360 (Socio-Economics Profile of Bangladesh) Section: 1 Submitted To: Muhammad Mahboob Ali Adjunct Faculty, Department of Economics, East West University. Submitted By: Name| ID| | | | | | | Acknowledgement In the preparation and finish this assignment, we acknowledge the encouragement and assistance given by a number of people and institution. We will write a custom essay sample on Globalization and Its Impact on Bangladesh Economy or any similar topic only for you Order Now We would like to express our gratitude to our faculty at East West University; Mahboob Ali for providing us detailed feedback and advice on this assignment. He always gave us his suggestions in making this study as flawless as possible. We also like to thank our group members for co-operating me in many troublesome tasks. And never the less above all our heartiest thanks goes to all mighty Allah without his help. We would not be here. Letter of Transmittal Date: 23th November, 2012 Muhammad Mahboob Ali Department of Economics, East West University Subject: Submission of Assignment. Sir, It’s our great pleasure to submit the assignment. A study was making on a economics sector that you have asked us to prepare and we select â€Å"globalization impact on Bangladesh economy† to study. We have tried our best to follow the instruction that was given by you. Throughout this study we tried to identify whether globalization play positive or negative impact on our country’s economy. As well as, we also discuss the overall condition of our country’s economy also. We sincerely hope that you will enjoy this report as we enjoyed while writing it. If you need any further clarification or quarry in interpreting this analysis, we will be glad to oblige you. Thank you. Abstract: Over the past decades, globalization has now become a new world order, new world order, which virtually influences everything that comes in our mind. Developing countries like Bangladesh with vulnerable geopolitical locations and weak economies are now looking at globalization to strengthen their economy to fight any perceived threats. But the increasing role played by the western dominated institutions such as, the World Bank (WB), International Monetary Fund (IMF), and the World Trade Organization (WTO) in setting the rules under which globalization is played, has placed developing ountries in a much disadvantageous position vis-a-vis the developed countries. However, a closer look at the globalization will show that it has both positive and negative impacts on the economy of Bangladesh. A thorough understanding of the effect of globalization is needed to use its advantages to improve her economy. This may also help Bangladesh maintain a sustained growth in the face of likely economic peril. This paper studies both negative and positive impacts of globalization on some selected economic sectors of Bangladesh. It also studies some ameliorative measures to overcome the negative impacts and also the ways to exploit the opportunities created. Finally the paper recommends some measures for Bangladesh to meet the challenges of economic globalization. Table of Contents No. | Topic| Page| 1. | Introductiona) Generalb) Motivation and Significance of the Researchc) Research Questions| 7 – 8| 2. | Literature Reviewa) Globalization as a phenomenon. b) The positive impact of globalization. c) The negative impact of globalization. | 9 – 12| 3. | Objective of the Study| 13| 4. | Methodology| 14| . | Limitation of the Research| 14 | 6. | Analysisa) Overall Economic Condition of Bangladesh. b) Opportunities of Globalizationc) Challenges of Globalization| 15 – 25| 7. | Recommendations| 26| 8. | Conclusion| 27| 1. Introduction Globalization in the broadest sense implies integration of economies and societies across the globe through the flow of technology, trade and capital. It basicall y refers to a process that enables people, goods, information, norms, practices and institutions to transcend national jurisdictions through markets, technologies, interests and information flows. Four types of changes characterize globalization. First, it involves a stretching of social, political and economic activities across frontiers, regions and continents. Second, it is marked by the growing magnitude of interconnectedness and flows of trade, investment, finance, migration, culture, etc. Third, it can be linked to a speeding up of global interactions and processes. And fourth, the effects of distant events can be highly significant elsewhere and specific local developments can have considerable global consequences. Thus the boundaries between domestic matters and global affairs become increasingly fluid. Globalization, in short, can be thought of as the widening, intensifying and growing impact of worldwide interconnectedness. It causes an expansion in the volume and variety of cross border transactions in goods and services. Globalization is a much used term and there are diverse views as to how and why globalization is occurring this time around. The late 19th and early 20th centuries saw a globalization in economic markets, but we can see its pervasive and widespread impacts at the present time. Every country in this world enters into global economy and trying to cope with the pace of global economy. Bangladesh is one of the developing countries in the world and its economy has already being impacted by global economy. It is not possible for a third world country like Bangladesh to keep pace with global economy, because it is conceivable that the origins of globalization lie in the political decision by merely the developed countries of the world. Bangladesh’ economy experiences a recession of industrial growth. The study is focused that there is strong opportunity for Bangladesh to boost its economy, but the socio-political situation should be favorable one to enhance savings and investment in this country. The study articulates some strong recommendations that could make Bangladesh even stronger to boost to compete globally to a greater magnitude. It is conceivable that Bangladesh needs to privatize its State- owned enterprise (SOEs) and should maintain an unassailable relation with World Bank, IMF and other donor agencies. It is a big challenge for Bangladesh to contend in global economy through considerable internal and external obstructions. The entire paper is arranged by giving a brief current economic condition of Bangladesh followed by an introduction initially; after then the next section is discussed how Bangladesh economy impacted through regional trade agreement and later the paper portrays the role of privatization in Bangladesh economy. And this paper also discusses how Globalization affects the whole economy of our country Bangladesh. Later the paper discusses some constraints of Bangladesh economy and then it illustrates some basic recommendations that could make this economy stronger to compete with global economy. And at last a conclusion is illustrated that reflects the overall theme of this paper. It would be very difficult to keep pace with modern globalization. Therefore, one of the greatest challenges faced by Bangladesh in this century is how to strengthen its participation in the global economy in a manner that will bring widespread and sustainable benefits to its people. Motivation and Significance of the Research The motivation that we have for this research is based on the fact that we are Bangladeshi who have seen and experienced the impact of globalization phenomenon on economic development. Developed countries use globalization for improving their economy in many ways. We have marked how these countries use globalization to their advantage. Having compared the socio-political and economic environment of Bangladesh and the countries we have researched, we are now in a position to understand the likely effects of globalization on Bangladesh economy. We would like to take this opportunity to do the research based on our experience and understanding of the subject from our reading. Research Questions The primary question of this term-paper is: What is the overall impact of Globalization in Bangladesh economy? What should Bangladesh do to use the advantages of globalization in improving her situation? 2. Literature Review Many books and articles have discussed the various effects of globalization exhaustively. These studies include globalization as a phenomenon in general and the positive and the negative impacts of globalization in particular. Even though many books and articles have addressed globalization from the developing countries point of view, few even mention its impact specifically on Bangladesh. Globalization is a growing concern and it is perceived as a vast subject that can impact all aspects of the world, or a nation. People blame globalization for affecting everything from culture, to political systems, to religious institutions, and the economy; all of these perceived impacts of globalization would impact Bangladesh differently. It is important to determine how exactly it can impact Bangladesh. This paper will concentrate on finding viable options for Bangladesh to sustain the world of global economy. The paper will also focus on the measures that Bangladesh might consider in using the effects of globalization in its economic growth. The literature generally looks at globalization from three different angles. These are: a) Globalization as a phenomenon. b) The positive impact of globalization. c) The negative impact of globalization. a) Globalization as a Phenomenon Historical Foundation: The origin of the concept of globalization stretches far back to the activities of the early Mediterranean civilizations before the fifth century A. D. 1 The ancient explorers, motivated primarily by the prospects of material gain, traversed the â€Å"silk route† between China and Europe, the â€Å"amber route† from the Baltic to the Mediterranean and the â€Å"spice route† by sea between Egypt, the Yemen and India. During this period, up to the end of the fifteenth century, the volume of long distance trade, travel, and communications was inevitably irregular. 2 Increased trading expeditions by British, Dutch, and Portuguese merchants in the seventeenth century raised the demand for colonial goods such as coffee, tea, sugar, tobacco, and chocolate. The requirement for more production of these goods as the demand increased prompted the beginning of slave trade from Africa to the Americas and Europe. Following these expeditions, European languages were easily transplanted to other continents and the three monotheistic religions namely Islam, Christianity and Judaism took root. In the nineteenth century, the technology revolution in transport and communications including the emergence of the railway, the telegraph and the steam ship all lowered freight rates and raised incomes therefore further boosting globalization. Core Elements of Globalization: Basically, globalization rests on a tripod namel y, the expansion of markets economic), challenges to the state and institutions (political), and the rise of new social and political movements (cultural). 8 economically, technological changes and government deregulation have permitted the establishment of transnational network in production, trade, and finance creating what is referred to as a â€Å"borderless world†. The second element affects States. Political power and activities extend across the boundaries of nation- states while policy making on issues such as human rights, environmental degradation and nuclear safety have required global consensus. The third element of globalization affects more than markets and states. It is altering the lives of people across the globe. Fast dissemination of media, books, music, international ideas and values has produced a somewhat global culture. b) Positive impacts of globalization: A thorough understanding of the effect of globalization is needed to use its advantages to improve the economy of Bangladesh. This may also help Bangladesh maintain a sustained growth in the face of likely economic peril. Though some view NGO (Non-Government Organization) as a tool of economic exploitation, it brings changes on the living condition and status of the poor and rural people. Excludes are now becoming Includes. While most low-income countries depend largely on the export of primary commodities, Bangladesh has made the transition from being primarily a jute-exporting country to a garment-exporting one. This transition has been dictated by the country’s resource endowment, characterized by extreme land scarcity and a very high population density, making economic growth dependent on the export of labor-intensive manufactures. A greater integration with the global economy seems to fit well with Bangladesh’s development efforts. The garment sector opens the door of sufficiency to the people who previously live in a hurdle living. The export-oriented garment industry presently employs around 2. 5 million workers – mostly women from low-income, rural backgrounds. The second dominant export-oriented activity, shrimp farming, is also very labor intensive, presently employing nearly half a million rural poor. This economic revaluation is not only creates skilled sectors but also gradually decreased unemployment problem. More generally, import liberalization is likely to have contributed to the creation of productive employment for the poor through the strengthening of many small-scale and informal sector activities that have benefited from improved access to imported inputs. Another issue of great importance to Bangladesh is that the free movement of migrant workers across borders be expanded, for workers’ remittances play an important role in its economy. Moreover, as a result of increasing global connection and technological improvements diversification of export is possible as many new export items are added as the global demands are increasing. We can talk about ship building industry and IT based call center service are now coming as a new dimension in our economic arena. Globalization also creates impact on our culture and social structure as we are now considering ourselves as a global citizen. The interaction with other cultures and knowledge and information about other societies create a great impact on our lifestyle and thinking. c) Negative impacts of globalization: The removal of the Multi-Fiber Arrangements (MFA) quotas now threatens to increase competition in the global garment industry and thus limit Bangladesh’s growth. The strength of the industry depends on the export quotas dictated by the MFA and preferential access in the major Western markets. Moreover, other export industries are unlikely to take its place if the garment industry shrinks. It is not easy for a Least Developed Country (LDC) like Bangladesh to specialize in manufactured exports. Having low wage costs can hardly compensate for its lack of marketing skills and infrastructure and poor overall investment climate. Moreover, the high degree of dependence of domestic industries on imported raw materials and industrial inputs makes it difficult for Bangladesh. In this connection, it is likely to mention that, the Generalized System of Preferences (GSP) rules were devised decades ago to help developing countries promote export-oriented industrialization. But, in effect, the rules proved discriminatory against LDCs like Bangladesh that count on low value-addition processing activities. On top of these rules, Bangladesh also has to worry about non-tariff barriers such as those relating to environmental or labor standards. Anti-dumping actions are already under way against exports from Bangladesh, Also, the role of globalization played by the western dominated institutions such as, the World Bank (WB), International Monetary Fund (IMF), Asian Development Bank (ADB) and the World Trade Organization (WTO). The agenda of the Bangladesh’s economical sector and upcoming debt formulated by these kinds of organizations are running on the process of economic exploitation of a country. For this, they are willing to give money for construct a road rather than a factory. Beside this for every debt they are selling their products in our country without any tax. Globalization is a well excepted term all over the world, but developed countries are the real beneficiaries of the concept; whereas the developing countries are in a confused situation to relate the term on their economic, social, political and personal life and it cannot helps to reduce the gap between haves and have not. 3. Objective of the Study: The overall objective of the project is to expand the theoretical discussion on the relationship between globalization, environmental change, resource use social suffering and human security in the context of a least developed country-Bangladesh. And the primary objective is to analysis how globalization effect on country’s economy. This study will: †¢ investigate the role environmental change play in social conflicts and resultant social suffering; †¢ assess the role of population movement as a factor of environmental degradation; †¢ Critically assess the gender dimension of social change resulting from the interacting forces of globalization and environmental change. The principal objective of this study was to identify all major dimensions and issues of †¢ Globalization and attempt to explain those, to the extent possible, from industrial perspective. The specific objectives set were as follows: †¢ To assess the effect and impact of the process of globalization on the life and livelihood of industry especially in Bangladesh. †¢ To analyze the overall economic condition of Bangladesh. †¢ To find the opportunities and challenges of Globalization in the context of Bangladesh economy. 4. Methodology: We used descriptive and expletory design to prepare our assignment. By design, this study was an exploratory type of study. For our primary research, we mostly used the resources of the web and the library. And some standard reference sources like – †¢Daily Newspaper †¢Weekly Newspaper †¢Magazine †¢ Economic Reports based on Bangladesh Economy For finding materials in the web, we used the standard search engines such as †¢Google †¢Yahoo †¢AltaVista As well as reference sites and news sites, we also used some Bangladeshi search engines. 5. Limitation of the Problem : All data are not available in internet. It was very short time to collect all relevant data and to prepare this assignment. Also we faced load shedding problem and our lab was over crowded that distract our mind sometimes. . Analysis a) Overall Economic Condition of Bangladesh: Bangladesh is one of the poorest countries in the world, but it is plausible that the overall growth rate of Bangladesh is not stagnant; the overall growth rate of Bangladesh is actually moving forward. The growth average of Bangladesh is 5. 4%per year over the FY01-05 period, which has been the highest since the country’s independence (The World Bank). Bangladesh has global merchandize trade relationship ships with many countries around the world. Bangladesh has a good market in the United States, United Kingdom, Australia and Germany. Bangladesh also exports goods and services from around the globe. The economy of Bangladesh is a rapidly developing market-based economy. Its per capita income in 2010 was est. US$1,700 (adjusted by purchasing power parity). According to the International Monetary Fund, Bangladesh ranked as the 43rd largest economy in the world in 2010 in PPP terms and 57th largest in nominal terms, among the Next Eleven or N-11 of Goldman Sachs and D-8 economies, with a gross domestic product of US$269. billion in PPP terms and US$104. 9 billion in nominal terms. The economy has grown at the rate of 6-7% per annum over the past few years. More than half of the GDP is generated by the service sector; while nearly half of Bangladeshis are employed in the agriculture sector. Other goods produced are textiles, jute, fish, vegetables, fruit, leather and leather goods, ceramics, ready-made goods. Garments sector is t he largest exporting sector for Bangladesh. For Bangladesh, openness to trade would be a vital basis of future growth. Growth from trade directness will depend upon simultaneous investment climate reforms that would boost competitiveness to domestic firms. In Bangladesh the government should undertake policies to attract overseas remittance into productive investment activities. Remittances from Bangladeshis working overseas, mainly in the Middle East, are the major source of foreign exchange earnings; exports of garments and textiles are the other main sources of foreign exchange earnings. Ship building and cane cultivation have become a major force of growth. GDP’s rapid growth due to sound financial control and regulations has also contributed to its growth; however, foreign direct investment is yet to rise significantly. Bangladesh has made major strides in its human development. The land is devoted mainly to rice and jute cultivation as well as fruits and other produce, although wheat production has increased in recent years; the country is largely self-sufficient in rice production. Bangladesh’s growth of its agricultural industries is due to its fertile deltaic land that depends on its six seasons and multiple harvests. Transportation, communication, water distribution, and energy infrastructure are rapidly developing. Bangladesh is limited in its reserves of oil, but recently there has been huge development in gas and coal mining. Bangladesh’s economy has been remarkably resilient, with GDP growth averaging 5? % a year for the past 15 years. But the growth has been off a low base, so the country remains one of the poorest in Asia. Its economic base is narrow (based around garments and agriculture) and vulnerable to natural disasters. Moreover, despite a recent period of relative calm, political stability is far from assured. Bangladesh is below the regional average for per capita income, growth and creditworthiness. The business climate can be difficult – but according to the World Bank’s Doing Business Survey no worse than the regional average. Like most developing economies, Bangladesh can be a risky place to do business. But it does have attractions: a large and growing population; steady GDP growth; and strong demand for foreign capital to meet the country’s large infrastructure and energy needs. Chart 2 shows the different criteria of risks to exporters and investors of Bangladesh. Over the past 15 years, growth has been rapid and has slowly accelerated. Over 2012-14, the IMF expects growth to be over 6% pa, an impressive performance in the current economic climate. However, this partly reflects strong population growth, with per-capita income growth continuing to lag the regional average. Moreover, inflation remains a problem, with prices recently being boosted by reductions to fuel subsidies and a weakening in the currency. Inflation is also very exposed to swings in food prices, which account for 60% of consumption. ) Opportunities of Globalization: Bangladesh has a low human capital stock and is relatively closed to the global economy even by standard of the other low-income countries. Therefore, Bangladesh has not yet fully become part of the global economy. This is as truer in trade as in technology achievements. Globalize offers the potential to free Bangladesh and other developing countries from the restrictions imposed by a relatively small domestic ma rket, low saving and limited access to world technology and credit. 1. Opportunity to break the vicious circle: It offers an opportunity to break the vicious circle of savings and investments, a long-standing important challenge for all developing countries. Better education, training, technology, equipment and infrastructure in general raise living standard. Due to globalization, foreign investment in our country will increase. If we can properly utilize it then employment will increased which will raise the income of people of Bangladesh. So, if there is a high rate of income then savings of people will increased which will enable us to break the vicious circle. 2. Alternative source of domestic investment finance: Globalization offers an alternative source of domestic investment finance. Such financing is channeled through direct investment and frequently come with attached benefits, such as technology transfer, training, marketing networks and managerial and technical expertise. Foreign investment is especially attractive when it brings its own physical capital and the means to enhance human capital of domestic citizens. 3. Increasing the living standards of poor people and employment opportunities: Globalization is increasing the living standards of poor people in Bangladesh. Industries from foreign investments create employment opportunities for a large number of people including young women who, for the first time, can visibly enter the male dominated public space. Foreign and export oriented industries are changing the economic and social scenario of Bangladesh which, results in an increase of living standards. 4. Motivating the people and increasing the modernity of our society: Increasing globalization is motivating the Bangladeshi people and increasing the modernity in our society. A person can forces by inspiration refers what effect his direction, intensity, and persistence of voluntary behavior. Foreign investments create high paying jobs, which require more knowledge and skill, therefore motivating people to work for a higher education. Bangladeshi students are performing better than before. Advertisements for foreign products also motivate people. Globalization allows foreign companies to advertise their products in our country. When people watch advertisements for expensive foreign products, they want to buy them even if they don’t have the ability. 5. The transfer of technology: Bangladesh has largely benefited from the transfer of technology. One nation cannot produce everything, because it has limited resources. Globalization gave us the opportunity to use modern technology. We got world-class telecommunication technology, which was not possible without foreign investment. 6. Modern telecommunication technology: Modern telecommunication technology connected us to the rest of the world. Bangladesh are getting technological advantages like computers and the Internet, transportation and online banking with evaluation in the modern world. We are earning foreign currency and creating many new jobs by exporting computer software. Globalization has made a big social and economic change in Bangladesh. 7. Increased competitiveness and raise export potentials: Product market competition induced by government policy of economic liberalization can bring about increased competitiveness and raise export potentials. The competition can be enhanced by reductions in transport and communication costs of conducting international trade, by removal of external tariff barriers, and by more vigorous application of pro-competitive policies in those domestic industries not exposed to international competition. Competition is healthy for the economy in the long run. It not only influences the relative bargaining power of firms and workers but it is also a force for renewal and change. 8. Actions of Employers to reap the opportunities of Globalization: Volatility in the labor market has prompted employers in Bangladesh to become more organized and to move towards greater unity. There is a tendency among the employers to shift certain risks and responsibilities away from the enterprise or society to the workers. Employers have tended to introduce new labor-saving technologies to reduce cost of production and to avoid the risk of labor unrest. Unlike in the public sector, employers in the private sector have resorted to growing casualization of workers resulting in the deprivation of workers of provident fund, gratuity, normal working days and hours, group insurance, leave encashment, leave with pay and pension benefits and, above all, job security 9. Actions of Trade Unions to reap the opportunities of Globalization: Economic integration and increasing competition erode the bargaining power of trade unions. However, the increasing mobility of goods and capital allows such obstacles to be readily circumvented, thereby prompting the trade union movement to adopt a global approach. Globalization has also created opportunities for trade unions by offering organized labour the alternative of collaborating with employers to enhance productivity, adaptability and product or service quality, in exchange for job security and higher wages. 10. Benefit from return migrants: Because of globalization also Bangladesh can benefit from return migrants. Migrants make-up a pool of potential investors and managers who have benefited from foreign training, not merely from academic or vocational training but in the wider sense of learning on the job and assimilating more of the global business culture . Migrants are likely to return for changing lifestyle for example they wish to return home to set up a business (however small) or to take advantage of early retirement. Due to globalization these migrants are interested to invest in Bangladesh 11. Foreign Direct Investment: FDI in RMG industry should be welcomed and pursued to ensure higher investment in this sector. FDI would also help in transferring technology and ensure bigger market access by providing direct linkages with the retailers. 12. Some other Opportunities of Globalization: Globalization has also created some new scope and opportunity for the development. Following may be considered as opportunities: a) Bangladesh is being integrated with global economy and business. b) Expanded private sector employment opportunity with poor labor rights.. c) Increasing competitiveness and efficiency. d) Emergence of new sectors of production and employment according to the global need, such as ternary, footwear, pharmaceuticals, RMG, etc. e) Labor export to external market increased. f) As more countries are participating in trade, finance and production, Bangladesh is being integrated globally to a greater extent than before. g) Increased economic interdependence compared to other developing nations. ) Bangladesh is being linked to both developed and developing countries more closely through economic institutions, international agreements or treaties. i) Increase in foreign capital, information and technology flows. j) Bangladesh is facing competition from increased internationalization of foreign enterprises, mergers and alliances. k) Bangladesh i s experiencing customer-driven (rather than product-driven) global and local markets, though at the same time segmented markets. l) Competitiveness of Bangladesh is increasingly being based not on low wages or natural resources but on knowledge/innovation, skills and productivity. ) Potential to boost productivity and living standards across the globe, because a globally integrated economy can lead to a better division of labor between countries, allowing low-wage countries like Bangladesh to specialize in labor-intensive tasks while high-wage countries use workers in more productive ways thus allowing global firms to exploit bigger economies of scale. So we think Globalization will help Bangladesh a lot to increase its overall economic condition and others sectors that need to be strong to build up a decent economy. c) Challenges of Globalization: Within a country, there is the challenge of forgoing liberalization policies that promote greater integration of the domestic economy into the global economy. There are pressures from trade unions, lobby groups and local businesses over the effect of these policies on jobs and the closure of local industries. These can make it politically and socially difficult to implement reforms that could benefit a country in the medium to long term. The responsibility for achieving the right balance and pace of adjustment lie with individual Governments, but in practice this is not simple as it appears. Bangladesh pursued a number a number of stabilization and structural reform programs between 1987 and 1993, and made considerable progress in achieving macroeconomic stability. The various challenges of globalization that Bangladesh faces are as follows:- 1. Challenges for national economy: During the period of rapid integration with the global economy, the incidence of poverty appeared to have increased and so have inequalities in the country. Economic reforms in the country produced disappointing results in the absence of a system to induce entrepreneurs to invest in industries. Lack of institutions to make the economy efficient and reduce transaction costs was also a reason behind the country’s poor performance. Inequalities increased in the country during the period of rapid globalization. Inequality in income distribution increased quite substantially both in rural and urban Bangladesh. 2. Challenges for our culture and social life: Globalization makes worldwide boundaries fade away and enlarging contest in the market place. For globalization we are facing a huge impact on our culture and social life in the modern world. For example, McDonalds introduced American fast food to other parts of the world. The American fast food of McDonalds, Pizza Hut, etc. are introducing to our country, which is a challenge for our Bengali fast food. Also the Indian culture becomes a major challenge for our own Bengali culture now-a-days. 3. Challenges for business: As in the case of industries, globalization impinges heavily on the business in Bangladesh with destabilizing forces debilitating balance of trade and balance of payments. Bangladeshi products are increasingly losing competitiveness in the global market due to growing cost of business exacting high prices. The cost of business is increasing primarily due to port problems, bureaucratic tangles in customs department and no improvement in lead-time. In contrast, an increasing number of countries are offering low-cost products. 4. Challenges of Globalization on Industry: In Bangladesh many industrial units in jute, cotton, RMG, and paper and several other sectors are closed down by a number of reasons of which globalization is one crucial factor. These industrial units have difficulties to compete both domestically and internationally. Even in the domestic market, it is difficult for them to keep up the competitive advantages compared to imported goods. Notably, in all these sectors there is considerable inflow of FDI and presence of MNCs (multinational companies) and there is no SOE. 5. Challenges faced by ICT and Bio-technology: Such challenges faced by Bangladesh for the ICT and Bio-technology and their Impact on Employment and Intellectual Property Rights are: a) Makes some of the traditional farming role of people redundant leading to unemployment particularly among older and rural people. ) It’s not a desires and traditions of our communities to imported bio-technologies always. c) Needs to make easy to codify and move some of the un-codified knowledge of local citizens to the worldwide market. However if uncompensated, the move deprives people the economic gains and royalty they should be entitled to. 6. Challenges for Power Sector: Government has opened up foreign investment in power generation as in dependent power producer (IPP), and has also privatized transmission and distribution to the private sector (DESA, DESCO). Significant private foreign capital invested in the sector. As a result Bangladesh Power Development Board gradually has been losing its control over the power sector. Companies appointed employees under new terms and conditions. Job security of the employees also was ensured by the agreement 7. Challenges for Telecommunication: Telecommunication service was exclusively under Bangladesh Telephone and Telegraph Board (BTTB). This sector has been opened up for private investment. Different private telephone companies, TV channels, marine and rural telecommunication, radio trucking service and revering telecommunication have already been opened up for private sector. These private phone companies or TV channels are capturing a large number of customers. As a result govt. owned companies losing their customers. Government has been making different efforts to privatize this sector like PDB under company management. There is strong opposition from employees against privatization of BTTB. 8. Challenges for Labor Market: In Bangladesh many industrial units jute, cotton, paper and RMG, and several other sectors were closed down by a number of reasons of which globalization is one of crucial factor. It is estimated that near about 7 thousand big and medium size industries closed down as an impact of globalization. In Bangladesh near about 2 million people lost their employment due to closure of industries. Most of the privatization and closure of industries resulted in huge retrenchment. Fall in the aggregate demand for labor has accelerated declination of wage. Real wage declined due inflation and currency market deregulation. Also there is a decreased in number of working people under permanent contracts of employment. Non-traditional forms of employment including part time, casual and contract labor, home-work and migratory work increased. Casualization of workers in the private sector resulted in deprivation of provident fund, gratuity, normal working days and hours, group insurance, leave, pension and above all job security. Numerical functional flexibility in labor market increased, increased of out sourcing of work, and increased irregular payment. In the name of competition workers are forced to work overtime. Minimum wages of the workers in the private sector are not protected. 9. Challenges for Employment: Challenges for employment are as follows:- a) Trade liberalization and privatization created social insecurity and aggravating, unemployment, underemployment. b) Social security of the workers decreased. c) Reduced job security, workers are terminated without benefits. d) Working environment degraded, especially in the private and informal sector. e) Labor laws are not implemented in most of the privately owned industries. 10. Mutual dependence: Globalization has increased mutual dependence between macroeconomic stability and good institutions and organizations, and made stability vulnerable to volatility in financial markets. Financial and currency crises around the world have occurred with an acceleration pace and with relatively more devastating impacts since the globalization process accelerated from 1989. 11. Some other Challenges: Bangladesh has to face some challenges to fight as well as cope with globalization. Challenges are as follows: a) Build up strong resistance against privation. b) Reopening of closed industries. c) Unite trade union movement to achieve greater collective bargaining power. d) Capacitate trade union with new bargaining approach. ) To fight against the fast changing rules of the game of rapid transformation workers need to develop knowledge based skill in manufacturing through continuous updating of skill to face the challenges of globalization. f) Build up global shared goal and action. Enhance global unionism to face the global challenges. g) Initiatives to influence International Financial Institution to ensure workers’ rights. h) Build up pact between trade union an d global consumers. Make global consumers responsible to ensure labor rights at national level. i) Organize informal sector as well non-unionized workers to strengthen trade union movement. ) Globalization not only affected workers but also affected different sections of the people, so it is important to organize voice from all sections. k) Workers alone would not be able to fight globalization. Influence political parties to incorporate the agenda. Globalization has both positive as well as negative impacts on its players. In an increasingly open, integrated and borderless world there have been remarkable growths in trade and exchanges. It was basically possible because of the democratization of technology, finance and communications. On the other hand globalization also generates number of problems. 7. Recommendations: The impact of globalization on the economy of Bangladesh is mixed with marginal positive outcome overshadowed by vast negative results. Globalization provides many opportunities for development for Bangladesh and its people, including the potential to improve wages and living standards. It has challenged many economic strategies of the past as the way towards development. It provides an impetus and incentive to develop human resources and to improve productivity as key factors of competitiveness and improved living standards. Globalization has made Bangladesh conscious of the need to improve productivity. Even unions in Bangladesh have come to acknowledge the importance of productivity enhancement to the standards of living of their own members. Trade liberalization and privatization has created social insecurity in terms of loss of jobs and aggravating unemployment and underemployment in the country pointing to the need for social protection to contain insecurity of the workers. Voice of the common workers, collective awareness and participatory management of trade unions at various levels are the three main processes for the improvement of trade union governance. The existing practice of centralized governance of trade unions has largely contributed to the major failures in the labor processes in Bangladesh. Competitive labor market is expected to link wages with productivity. In the case of SOEs, real wage growth outpacing productivity growth is a factor raising unit labor costs and reducing international competitiveness calling for adjustment of real wages in line with productivity growth. The state thus has a critical role to play; both in handling such shocks and in helping people and firms seize the opportunities of the global market place. Globalization also sharpens the need for international co-operation in at least five areas, such as: a) Managing Regional Crisis, b) Promoting global economic stability, c) Protecting the Environment, d) Fostering Basic Research and the dissemination of know-how and e) Making International Development Assistance more effective. Some Recommendations are given below: Government level reforms: Bangladesh Government has taken initiatives or resources for telecommunications and transports which are not along to meet the nation’s growing requirements. Bangladesh government should continuously improve system capabilities to enhance the private sector participation. Monetary Policy: The central bank must maintain a close look on the growth of the monetary base or domestic credit creation. Attract free flow of FDI : Foreign Direct Investment is inevitable for any developing economy. Bangladesh should create proper field to attract more FDI in industrial sector. Productive investment: Bangladesh needs substantial quality investment in the industrial sector and investment in those activities where we can produce more efficiently. The economic growth rate in Bangladesh is not necessarily constrained by insufficient savings; rather it is due to poor level of investment and lack of efficient use of capita Integration into World Markets: In Bangladesh, firms can be internationally integrated by means of ownership or by selling their products in foreign markets. In the readymade garments and leather/footwear industries, most of the firms are majority exporters, i. e. , they sell more than 50% of their output in export markets. In contrast, in the pharmaceuticals industries there are no majority exporters (Fernandes2006). Limited foreign capital assimilation: Every year Bangladesh seeks foreign capital for undertaking various projects. But foreign capital can be a substitute for domestic savings only to limited extent. Foreign aid, commercial borrowing and portfolio investment can limit the expansion of savings by expanding consumption. The government should immediately constitute a national committee on aid for trade to work on getting a better share of the aid-cake as well as adopt a foreign aid policy statement in consistent with the new PRSP (Poverty Reduction Strategy Paper) to make donors clear about the priority areas of aid. . Conclusion: Globalization has a very far-reaching effect on almost every sphere of life. In the question of economic development and growth it is even more being in this era of globalization. Developing country like Bangladesh must take the advantages of globalization and attempt to improve her economy. However, we found from each piece was that the impact of globalizati on was more negative on Bangladesh than it was positive. Globalization has not only kept Bangladesh from advancing ahead in economic development, but it has changed the traditions and ways of life for the indigenous people for the worse. As a poor country, Bangladesh needs to be more concerned about the appropriate implementation of Globalization. As we find thru our research, Bangladesh’s potentials to economic globalization is highly promising. We believe that the recommendation made in this paper if implemented well will take Bangladesh to a point of sustained economic growth and development. How to cite Globalization and Its Impact on Bangladesh Economy, Papers

Management and Organizations in Global Environment Motor Industry

Question: Discuss about the Report for Management and Organizations in Global Environment of Motor Industry. Answer: Summary The motor vehicle industry has evolved incredibly since the past two or three decades. The world has witnessed iconic changes in the management and organization in this industry which has made this sector flourish and stand where it stands today. There are a few legendary personalities who are responsible for the growth and success of the motor vehicle industry. They have paved the way for excellent management and organizational practices, which professionals in this industry still follow. In this essay, the contribution of leaders like Henry Ford and Alfred P Sloan has been discussed. The world car concept and merges like Chrysler Mercedes-Benz and Nissan Renault have also been discussed in details. This will help in the deeper understanding as to how the motor vehicle has evolved in the age of globalization and what challenges lie ahead. With more than seventy-five million motor vehicles being sold in a year, the motor vehicle industry is undoubtedly one of the key industries around the globe (Cartwright 2012). In the years gone by, the labor system was rigid, which lead to the realization that there were various issues in the management and organization in the industry. However, with the wide spread of globalization, the people involved in the management and organization were able to employ flexible labor force and assembly lines that made mass production of customized products possible (Caputo 2012). Enhancement in the manufacturing flexibility also imposes new and unseen challenges on the management and organization in the industry. These challenges include not only keeping up with the design and style of the manufacturing systems, but also coordination of the logistics and the global supply chain. Effective scheduling and novel planning are also required to minimize the differences between the need to enhance the capital-incentive resources and the demand for product varieties. The increase in worldwide competition over the last ten years has also urged the motor vehicle industry to improve the efficiency and quality of its management and organization. Utilizing relevant management tools as per needs of the organization has become a crucial element to maintaining competitiveness in the contemporary business environment. Because of its comprehensive and global approach, management is characterized into various segments. If the management methodologies and organizational strategies are utilized in an appropriate manner, it ensures participation of the members that is aimed at improving the efficiency, functionality, and efficacy of the company (Cheng and Seeger 2012). The companies can improve their performances rapidly if they choose and apply the best management tools. This will also lead to a gain in market shares and increased customer satisfaction. The entire motor vehicle industry has embraced standard management and organization methods, but the challenge still lies in determining which practices will ensure stability and prosperity in the overall performance of the firm (Metzger and Berger 2012). Contemporarily, the whole of the motor vehicle industry is moving along the currents of globalization. There are certain distinctive features, which mark the changes in the automobile industry after the advent of globalization. Primarily, its structure is highly concentrated: a small group of powerful companies exerting pressure over the less powerful ones. Companies belonging to countries like Germany, USA and Japan dominate motor vehicle production globally. The automobile industry structured regionally compared to the other industries. There are many issues, which challenge the operation of the motor vehicle industry like striking the perfect balance between marketing and the short-term sales, understanding the future car culture, urbanization, competition, coordination with the other operating industries, etc. The automobile industry has been taking all these challenges in its stride. Effective management means converting challenges into opportunities (Weber and Yedidia Tarba 2012). There is a lot to learn from the organization and management of the automobile industry, which can prove to be a valuable lesson for those who want to be a part of this ever-growing industry (Becker et al. 2016). Henry Ford: Bringing the work to the worker: Henry Ford is a revolutionary personality which is responsible for creating the Ford Model T car in the year 1908 (Gill 2012). He also invented the assembly mode of production, which brought a metamorphic change in the motor vehicle industry and changed the way the industry operates forever. Henry Ford went on to sell millions of cars and became a famous personality who gained recognition all around the world (Nissan-global 2016). Fords philosophy reflected his respect towards the employees of the organization. According to him, the employee works backstage for the success of the company. The company is nothing without him, so it must take care of all the needs and requirements of the employee. The company must listen to what the employee has to say or contribute and must incorporate his suggestions in the management and organizational activities of the company. Henry Ford set a brilliant example for valuing the human work force (Nissan-global 2016). He believed that offering the emp loyees a rewarding salary and reasonable working hours would motivate them to work much harder towards the success of the company. He was a staunch believer of Bringing the work to the worker Selling the best products at the lowest cost would ensure prosperity for the company and hence the worker will get more appealing work opportunities. Henry Ford had a high emotional quotient. He was sensitive towards the needs of his employees (Aoyama 2012). He used to take actions to respond to their needs, and they were enough to express that he cared. He encouraged the work-life balance of the employees and always appreciated and acknowledged their work. If required, he would also increase their wage rates, time to time. According to him, success lies in the ability of the management to get the employee's point of view and try to look at things from that angle as well as their own. The work force of the organization must never be ignored for they are the backbone of the company. Ford believed that the responsibility of the company's management is not only limited to coming up with ideas concerning the working of the company (Aoyama 2012). They must commit to their ideas and make sure that they are incorporated efficiently into the activities of the business. Any organization must be acquainted with the market within which it is operating. This will help the management in establishing the company as a leader in the industry. A company will never flourish unless it decides upon the category or the target audience it wishes to serve. After Henry Ford was sure about the product he was to manufacture, he spent a long time deciding customer base. He knew it would be a great idea to save time and money by zeroing in on a certain target audience and solving their problem that they did not even know if it exists. The lesson to be taken is clear and concise: Perform research, and identify if there is any interest of the audience in your product and devise it accordingly. Promotion is also a vital part, which the management should not ignore. If the customers do not come to know if your product exists, they will never buy your product. Reputation is one virtue that cannot be compromised at the cost of anything. Reputation and recognition do not come overnight. The company must be consistent in its quality of services so that the experience remains the same with each customer. This will lead to promotion through word of mouth. The customers will talk about how pleasantly the company deals with its clients, and it will carve a fine image of the company on the minds of its customers (Pavlnek 2012). Henry Ford taught this industry the importance of maintaining reputation. If the customers do not think highly of the company, no management efforts of the organization will be of any use eventually. There is no better example of a company being respected by the people across the globe than Ford Motor Company. Henry Ford set a practical example for the future members of the industry to follow (Ene and ztrk 2012). Fordism is a concept named after Henry Ford. Fordism advocates a standard and efficient form of mass production. Henry Ford had realized that he could achieve the maximum output by ensuring a premium level of efficiency among the workforce. He ensured this through offering the employees of the company better wages and lessened work pressure so that they could strike a perfect work-life balance. Henry Ford has taught the management how to move towards the goals of the company (Well and Nieuwenhuis 2012). The management should always keep an eye over its competitors so that they know what goals they have to set and how do they have to achieve them. Ford always encouraged his people to learn and keep on with this process of learning until the end of time. Learning will help in brainstorming new ideas, and help the management in realizing their company objectives (Weiss 2014). Ford taught the people of the motor vehicle industry and the people all around the world, never to be afraid of being the different one. It is always good to experiment, for a person will never learn if he does not venture into new things. Ford encouraged people not to focus on innovation just for the sake of it. He asked people to indulge in introspection and ask themselves questions like why they want to invent the product, how innovative should they be, etc. Setting goals is always important because it keeps a person motivated and focused to achieve his or her dreams (Dyrud 2016). Irrespective of what the goal was, the employees of Henry Ford were united by the fact that they gave up their unrewarding jobs to maintain a better work-life balance where there was scope for high earnings with more free time for social life (Mayyas et al. 2012). Henry Fords contribution to the motor vehicle industry is undeniable. He has made an impact on the industry both practically and theoretically, where he has taught the people hundreds of management and organization lessons. His farsightedness and determination to succeed still inspire all the entrepreneurs and business owners even today. Alfred P Sloan; Cost Centre philosophy: In order to comprehend how the famous American business executive in the motor vehicle industry, Alfred P Sloan influenced the entire corporate system, through the invention of a technique called cost center, it is important to understand clearly, what this concept actually means and what its scope is. A cost center is that department of an organization, which does not, adds to the profitability, but costs the company finance and capital to operate (Olugu and Wong 2012). On one hand, profit center directly contributes to the profits earned by the company; cost center does the same, but in an indirect manner. During the phase of downsizing, departments like cost centers are usually are first ones to be on the target list. However, the nature and importance of this department should never be underestimated. A cost center can also be explained as a division in a business organization, which is entirely financed by the profit margin. This adds to the cost of the company and yet contribut es to its profitability either through direct or indirect means (Killing 2012). There are numerous examples of cost centers that relate to human resources, research and development (RD) and marketing (Shaheen and Cohen 2013). Alfred P Sloan used this particular concept and surpassed Henry Ford totally. Sloan used the cost center technique along with his brilliant leader ship style and made GM the world's biggest Industrial Corporation (Khler 2012). Sloan used cost center to change the management system entirely in General Motors and for good. As a result, General Motors Corporation was transformed into an organization, which had multiple divisions, with each of them having a set of departments. These departments were responsible for various business activities of General Motors (Olugu and Wong 2012). These departments were evaluated for their performance level from an efficiency and sales point of view. These measures act as an indication for tracking the financial performance of the company. There were various measuring devices and indicators such as ROI. However, the capital measure came to be the most effective way of measuring the performance level of the cost center. Alfred Sloans management system formed the base of all the contemporary corporations with the multidivisional system since the year 1920 (Lindsay and Berridge 2012). The influence and relevance of cost center cannot be underestimated even after so many years. The companies all around the world use Alfred Sloan's concept of cost center to head towards success. It broke down and divided the responsibilities of the corporate within each of its departments. This helped each division of the General Motors to concentrate on its daily operations. The general managers of the respective departments were responsible for monitoring the profit and loss the division was incurring (Simes et al. 2016). Sloan realized that to convert the corporate management into a real-time profession; he must put the interest of the organization above all interests. Each department strived for achieving economies of scale and made its unique contribution towards the success of the enterprise (Webel and Canis 2012). These departments worked within a given budget handed out to them. This often resulted in the reduction of the inventory and lowered costs. The model of the cost center is subjected to some drastic changes in the contemporary times. If we use the model in its organic form to handle the current business practices, the outcomes can be very different. It was the failure of Henry Ford in managing his systems, which inspired Alfred Sloan to come up with a business structure of his own. That system would be free from the caprices of one man. This is the reason behind General Motors decentralized nature, with its divisions being handled autonomously handled (Hoffmann 2013). Its system of command is rigid and strict, with every business operation being planned very carefully. The system is also vertically integrated because General Motors nearly made all the parts that went into the manufacturing of cars (Beynon 2016). The rigid use of the cost center method resulted in the management of General Motors giving up this method totally in later years of operation. The fashion of various departments in an organization competing against each other has died (Aggoud and Bourgeois 2012). With each of the divisions of General Motors like marketing and engineering operating independently, gave rise to unnecessary overhead costs. As the world started welcoming free trade, Alfred Sloans concept of cost center was not competitive (Middlebrook 2016). When Peter Drucker invented his management theory in the 1940s, he chose General Motors as his subject of the case study. In his study titled, "The concept of Corporation", he appreciated Alfred Sloan's concept of cost center and as well as decentralized departments in an organization (Hoffmann 2013). Numerous national and multinational companies in the motor vehicle industries have embraced this concept and are witnessing effectiveness and efficiency in their busine ss operations. Sloan gifted all the giant corporations of the world a tool that is widely used, even now. The concept of cost center enjoys popularity even after decades since it was devised. Numerous multidivisional companies are using this concept to leverage their business operations. General Motors reached new heights under the leadership of Alfred P Sloan. His concept of cost center had helped the company calculate its financial statistics and equity (Doz and Prahalad 2013). Benefits of Alfred P Sloans cost center theory: The following are the benefits of Alfred P Sloans cost center: It improves the performance measurement; Helps the managers of the company in decision making and operating their departments on strict vigilance; The quality of the decisions and their outcome is also improved; Monitoring of investment returns is improved; Management information on profitability is improved; Monitoring of expenditure and cost was also improved. Alfred P Sloan revolutionized the face of the corporate sector in America. His brilliant approach towards leadership, managing customers and dealing with employees is groundbreaking (Olugu and Wong 2012). Alfred P Sloan's principles and guidelines on the managing of companies has stood the test of time and acts as a building block for efficient managerial leadership in business organizations no matter big or small. He demonstrated to the world how his principles should be put into use in todays times (Kalaignanam et al. 2013). The World Car Concept: World car is used to explain an automobile designed aimed to achieve worldwide sales using the same components and platform which comes in varied styles and designs. It is important to mention the history or background of world car. In the primitive days of the automobile industry, automobiles were mainly manufactured for local market wherein the manufacturer was based in (Zenkevich and Koroleva 2014). The prominent instance in this regard could be Ford T Model which was created to cope with the rural means and rugged terrain that most automobile customers were subjected to in the United States. The factual reality is this model arguably one of the first world cars with immense popularity across the globe. To be precise, Ford and its compatriot General Motors were mainly focused on being expansionist on a global platform (Gill 2012). In the year 1933, Ford introduced their first product which was designed to cater to the European needs and wants. The car failed to generate interest in the US market. However, the Ford Model Y developed by Ford Britain and also manufactured by the companys unit in Germany as Ford Koln. General Motors engaged in a rivalry with Ford by introducing Opel which was developed by General Motors in the US. However, the model was exclusively built in Europe and entirely sold in the European market. This initiated the advent of both the giants subsidiaries which aimed to create vehicles which match European culture and would be unlike to the automobiles designed by their parent organizations for the US market. Later, vehicles in the US were advancing wi th being larger and faster thereby benefiting from the suitable infrastructure of roads, reasonably priced fuel and lack of horsepower tax and displacement tax and duties that various European nations had (Hope 2016). The Volkswagen Beetle is another instance which has assumed worldwide success due to its economy and affordability. This could be construed to be the first mainstream vehicle post Model T which attracted immense attention across the globe (Hoffmann 2013). On the other hand, Nissan Sunny and Toyota Corolla followed what Beetles did became the first passenger cars in Japan. The success of these two models was dependent on economy and durability. On the other hand, the 1970s saw energy crisis sweeping across United States which propelled the US car manufacturers pursuing manufacturing of large vehicles with an increase of quality concerns surfacing in the midst. This created opportunities for European and Japanese car makers to make inroads in the US market. Later in the 1980s, Beetle evolved into C-segment which featured models such as Ford Escort and Volkswagen Golf (van Tuijl and Carvalho 2014). The Opel Corsa and Fiat also deserve special mention in this regard. These prove to be leading segment amongst the European car industry till date. On the other hand, Japanese vehicles were mostly focused on either luxury or performance. Nissan Laurel and Toyota Soarer are the two exorbitant brands which feature in the list. Based on the success of import of vehicles, Volkswagen initiated operations in Pennsylvania by establishing their first plant in 1978 (George 2015). Car makers like Nissan, Honda, and Toyota would get into a joint venture by establishing plants across the US. Slowly the Japanese counterparts followed the suit with automobile makers like, Mitsubishi Motors and Suzuki who would partner with American affiliates. Chrysler, General Motors, and Ford joined hand to form a joint venture which made a mark in the North American market (Hitosugi and Matsui 2015). The Volkswagen Rabbit is one such model which has its roots in North America was one of the primary foreign vehicles to be assembled domestically for the entire US market. The company made certain changes by installing trim materials in an attempt that turned out to be futile to market the product in American buyers who specifically were interested to buy the product because they longed for a European experience in driving. Honda Accord was the first model hailing from an overseas brand that became top-selling car in the US (Timmer et al. 2015). Henceforth, Japanese carmakers brought modifications in their products by designing midsize sedans that would impel the sale of lucrative sedan sector based in the United States having their sales in Japan. Toyota launched Camry model which helped them to supersede the popularity of both Ford Accord and Taurus in the category of best-selling vehicle in the United States. Likewise, Honda launched Accord model aimed to capture the North American market base which was not sold in the European or Japanese market. Towards the end of 1980, the concept of SUV or Sports Utility Vehicle became popular in North America (Hoffmann 2013). The reason for this success was low gas prices, high profitable options to automakers and likable design (George 2015). Over the years, world car has undergone significant changes in its manufacturing. The Ford Mondeo is an interesting proposition that was particularly designed to be successful in the European and US markets and was fittingly termed as a World Car which surpassed Ford Sierra and Tempo in Europe and North America markets respectively (Olugu and Wong 2012). Notwithstanding of being a global design, in the beginning, world cars needs to incorporate specific changes as per the law of the land, or for that matter diverse cultural differences and taste of the consumers. For instance, in Brazil ethanol vehicles are popular or in the United States where petrol is inexpensive and larger engines are popular (Dumas and Sanchez-Burks 2015). The merger of Nissan-Renault: The Nissan-Renault merger was materialized in the year 1999 which took the world by storm. While mergers and acquisitions were prevalent in the automobile world, a strategic merger between two diverse entities proved to be path breaking in the entire business domain. The relationship involves joint development, cross-holding, joint production, and collaboration of best practices and components. The merger enabled Nissan and Renault in the reduction of cost and time in production, increase competitiveness and augment profitability. Before delving in the wide array of aspects of the merger, it is imperative to mention a brief background of both the entities (Zenkevich and Koroleva 2014). A brief history of Nissan: Nissan was founded primarily as Kwaishinsha Motor Car Works in Japan in 1911. Later the company was rechristened as Nissan Motor Co. Ltd in the year 1934. The organization witnessed various intricacies while functioning as a unit. The firm made collaborations with various entities namely, Austin Motors and others to better its production and increase the base regarding sales and profitability. The firms performance perked up since 1972, with the total production scaling beyond ten million figures (www.nissan-global.com 2016). A brief history of Renault: Whereas, Renaults origin may be traced back to 1898 when the founder of the company formed the organization during the World War in France. Post the World War; Renault resumed production. During the late 1980s and early 1990s, the company increased its profitability with the introduction of the total quality concept in its ranks (Zenkevich and Koroleva 2014). The era of the 2000s witnessed the firm introducing modern concepts and mechanisms in its operations which were aimed to make its presence felt across the rest of the world, mainly outside Europe. The objective of Nissan-Renault alliance or merger: Alliance and mergers surfaced in the mid-1990s to the late of the decade. This was mainly done to explore openings in prospective markets. Also, the aim meant for reduction of costs and acquiring new technology. The Nissan-Renault came into existence when Nissan was in bad shape in financial terms. The automakers stake was near about 34 percent in 1974 but suffered a decline by 1999. In the year 1999, the company recorded huge loss approximately, 684 billion. In 1999, the CEOs of both the organizations came forward to sign an agreement which followed with the merging of both the entities (Olugu and Wong 2012). This resulted in Renault acquiring around thirty percent of Nissans shares worth 5.5 billion USD. The lackluster performance of Nissan prompted a change of CEO who initiated Nissan Revival scheme along with a host of reforms to rescue the organization from debt-ridden state and bring that back to profitability and growth. The top brass of the organization promulgated a plan with entailed over closing down of factories and nonperforming outlets, reduction of some vehicle platforms, investment in technology and setting up a proficient production system. However, the primary objectives are to return to net profitability, achieving minimum operating income to sales margin of nearly 4.5 percent and finally a reduction in consolidated debt to a minimum amount of 700 billion (Olugu and Wong 2012). The management foresaw that the company should be able to meet all the desired goals and cut down the purchasing cost by twenty percent which in turn would contribute to the overall organizational efficacy (Nissan-global 2016). Formation of Nissan-Renault merger: The merger was established with an aim to develop synergies while keeping the cultures of both the entities intact. The merger aimed to restore quality and value of both the organizations including profitability and transfer of technology. The capital structure of Nissan was formulated with Renault holding nearly 44 percent of stake in Nissan while Nissan is holding as much as 15 percent of Renault (Zenkevich and Koroleva 2014). The merger aimed to create Renault-Nissan Purchasing Organization which was to make joint purchases for both the entities. Nissan-Renault team hired professionals who assumed important positions in purchasing, emission business, global logistics and others (Weiss 2014). Effects of the Merger: The merger provided a plethora of benefits for both the organizations. The merger helped both the firm to eliminate wastes, improvement in the competitiveness of both the firms and efficiency in global operations. It is important to note that efficient global production was achieved by incorporating flexibility and optimizing utilization ratio. Improvement of plant competitiveness was achieved by benchmarking and efforts were made to improve logistics and equipment efficiency. The merger acted a buffer to protect against the economic crisis and accelerated the momentum of growth of both the company in some of the worlds fastest growing economies. The merger helped the brands to accentuate sales by almost 1 percent since 2014. Also, it captured nearly ten percent of the entire global market in the preceding year. In the quest to save cost and improve competitiveness Nissan and Renault focused on technologies and integrated these technologies in both the models. For example, Nissan provided various inputs for the development of Renaults first cross-over, Renault Koleos which was manufactured by Renault Samsung Motors in Korea. Nissan used Renaults Curitiba plant to find firm footing in Brazil and other parts of Latin America which is one of the largest automobile markets in the region (Weiss 2014). Both the brands partnered to reduce costs and derive benefits from various economies of scale. The model helped the merger to account for more than fifty percent of worldwide sales of the entities. The Nissan-Renault merger is deemed to be a success. The unique structure helped the partners to take advantage of synergies in keeping with separate branding and identities. Collaboration between Nissan and Renault focuses over capital intensive research projects mainly, zero-emission transportation models, sustainability and development of automobile manufacturing in parts of Russia and Brazil. The firms invested substantially in research, engineering, and production of state-of-the-art vehicles. The two entities executed joint development, production in emerging markets and Research and Development which propelled the firm to assume the position of market leader in the business domain. The merger helped Nissan and Renault to do better than historic rivals thereby elevating both the entities in an elite position. Challenges ahead: In spite of the technology sharing and cost advantages, Renault and Nissans market share took a severe hit in recent years and is yet to match the competence of Volkswagen Group and Toyota Motor Corporation which were centrally managed and closely managed. Volkswagen group is slowly consolidating its position to be the number one player in Europe. The merger is vulnerable to internal challenges also. Before the merger, Nissans organization was mostly close-minded and homogeneous. With the inclusion of Renault, various issues cropped up regarding the composition of the workforce. Both being separate entities, they ceased to have a common CEO. It is imperative for the alliance to resolve the stumbling blocks which in turn would help the entire operation to be a smooth affair. The aforementioned exhaustive discussion lays the foundation to key factors that are responsible for making automobile industry a sustainable domain. Merger and strategic alliance are undoubtedly complex because it entails over a host of complicated aspects. Nissan partnered with Renault to regain the lost footing in the automobile industry. In the last century or so, dynamic changes have occurred in the automotive industry of the world. The automobile industry in Europe and the United States assumed to be the market leaders in the domain. On the other hand, Japan lagged in growth in the initial years but slowly perked up growth in no time. The importance of the automotive industry is immense for the entire globe. There are approximately 180 manufacturers and vehicles which provide around 10 million employments with a significant proportion of skilled labor in the world (Olugu and Wong 2012). The above discussion coherently explains various trends which have helped the industry to flourish and prosper in best possible manner. Fords theory and cost center analysis paved the way for the development of robust automobile industry which became a force to reckon with. Further, the world car phenomena gripped the entire world and globalized the industry to a large extent. In fine, it may be concluded that the management should be abreast of the shortcomings and global facets so that it could sustain growth and development in the organization. The summary of the entire proposition is mentioned as follows. The motor vehicle industry has undergone a radical change since inception. Various management philosophies made its presence felt while defining the nuances of the automobile industry. Henry Ford is a significant personality who introduced the management philosophy of bringing the work to the workers. Resources or employees form an integral part of the organization. Henry Ford set a brilliant example for valuing the human work force which ultimately plays a key role in shaping the destiny of the organization. Other firms followed Ford's management philosophy which helped them to gain profitability. Ford was successful in initiating innovative management techniques in his firm which was later imitated by various companies across the world. However, Alfred P Sloan went a step higher and initiated cost center theory (Dumas and Sanchez-Burks 2015). The companies all around the world use Alfred Sloan's concept of cost center t o head towards success. It broke down and divided the responsibilities of the corporate within each of its departments. Various mergers and strategic alliance occurred in automobile industry over the years. One of the most remarkable strategic alliances was between Nissan and Renault which took the world by storm. The partnership enabled both the firms to gain a competitive advantage in the business domain and helped Nissan to gain the lost footing. It is important to note that the merger ranks higher than Chrysler and Mercedes-Benz. Meanwhile, with the advent of the concept of World Car, the automobile industry witnessed a paradigm shift in the entire domain (Zenkevich and Koroleva 2014). The World Car meant that firms could formulate various models and assemble them in separate geographies and eventually trade them in different markets (Zenkevich and Koroleva 2014). The factual reality is World Car perception is a proponent of merger and strategic partnership that followed in days to come. 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