Introduction to MS project 2003 Assignment Example | Topics and Well Written Essays - 250 words - 1

Introduction to MS project 2003 - Assignment Example This software was programmed to help its users to improve their operations in the business world, this software was meant to raise the profile of various services and products. With Microsoft Project 2003, one can create a new system, improve customers experience and expectations and also engage in any activity that is towards improving the customer’s efforts. Whenever any project is in session, it is important to give out reports about the project itself when using this program. For one to be able to see all the reports while using this program, they just click on the view button. From this point, they will be able to select the stories then they at the same time select the category that they require (Culp & VTC Incorporated 2005). This software also uses what is known as the assessment process, in that the program can constitute the development of projects bit by bit but in a perfect way. At the same time, the software is built with a compensation plan, this is a component that is capable of working well in a network marketing. This makes it be the best even though other versions are coming up, that are best and easy to operate than this version. The versions are also have an friendly interface. To conclude, this Microsoft Project 2003, is useful for business management. It is more efficient in the world of project management, and many business oriented companies that would want to succeed should consider

Heart Imagery in Great Expectations :: Great Expectations Essays

Heart Imagery in Great Expectations The heart is a symbolic barometer in Great Expectations that carries us from chapter to pulsating chapter. The novel's characters are forever wearing their hearts on their sleeves and in the process end up baring their souls within the text itself, and without, to the reader. What is the significance of hearts and their many states as described when Pip unfolds his own dramatic rags-to-riches-to-grace tale? Several scenes probe Miss Havisham's psyche with words about the condition of her heart. By analyzing them, we may be able to guess to what purpose Charles Dickens employs the heart imagery so frequently and so effectively. Â   For all the allusions which connect Miss Havisham to death-upon seeing her at the dressing table, Pip is immediately reminded of "some ghastly waxwork" and "a skeleton in the ashes of a rich dress," (93) -she is far from dead. Keeping her alive is the promise of youth: Estella and Pip. The promise the children give Miss Havisham, however, is not wholesome or optimistic, and neither is her communication with them. The first thing Miss Havisham reveals to Pip is that she suffers from a broken heart, "[uttering] the word...with strong emphasis, and with a weird smile that had a kind of boast," (94). This seems an odd confession for an adult to heave upon a child. Private miseries are kept quiet in order to spare children from the harsh reality of adult life. Â   But Miss Havisham is not worried about sparing anyone. Because she holds the family fortune, no one will insist that she snap out of her reverie of grief. Her intention is that Estella will learn to break men's hearts as recompense for Miss Havisham's having been broken. She admits to "sick fancies," and her demeanor so troubles Pip that he remarks, "Her contempt for me was so strong, that it became infectious, and I caught it" (95). Yet Pip is ready to forgive Miss Havisham for reducing him to self-hatred, even on that very first day: He tells us that as she watches the card game, Miss Havisham had "the appearance of having dropped... under the weight of a crushing blow" (96). Her posture softens him and he returns to Satis House over and over, even as he knows he is "under" the house's "influence" and it makes him "continue at heart to hate [his] trade" (158).

Should Compulsory Military Service Be Abolished?

Should compulsory military service be abolished ? (ARGUMENTATIVE ESSAY) The problem of compulsory military service has always been a controversial issue. Some people strongly support this idea while others are definitely against it. Although it has been claimed that the military service should be compulsory because of its benefits to governments, compulsory military service shouldn’t be abolished because of its limitations to citizens. It is commonly maintained that compulsory military service affects government’s economy in positive way, yet military service is cheaper than mandotary in long-term.Supporters of compulsory military service believe that mandotary military service is a must for countries to develop their economy. The choices of developing countries could be a good example for benefits of compulsory military service. Developing countries mostly prefer compulsory military service to grow their economy. Portugal is one of the these countries. Since Portugal m oved on to free military service there is a rapidly increase in civilian wages. However United States shows that countries can have both powerful economy and strong military power despite using free military service.According to Chapman, the cost of a volunteer is more expensive than full-time soldiers. (2002) Another argument widely claimed against abolishing compulsory military service is based on the assumption that young people could improve themselves physically and psychologically, pn the other hand it may cause harmful consequences on many sensitive young men. Proponents of compulsory military service claim that personality of young men would be developed during military service.They think that military service would make young men disciplined and principled. Laar stated â€Å"During the course of compulsory military service, a number of skills required for civilian life are acquired. † (2011) According to Kelty, Kleykamp and Segal, military service is an experience th at turns youth to adults. (2010) Nevertheless, compulsory military service may cause permanent problems in young people’s character and their lives. Forcing sensitive young men to strict the rules may lead to terrible damage to their psyche or even suicide.Citizens aren’t free to choose how they live in the countries using mandotary military service. They would be forced to something against their plans and they can’t live their lives how they wish. Other frequently heard arguments in support of compulsory military service is its necessity to protect national security against threats, yet it is unnecessary to maintain large armies because the strength of the country doesn’t depend on the manpower of an army; it is related to skills and knowledge of experts who are specially educated.A common claim is that compulsory military service is necessary to protect national security against threats. They think that the increased number of soldiers helps to fight a gainst terrorizm. It can frighten enemies to have a great number of soldiers. However, maintaining large permanent armies is not essential in our age because technology is developed. Nucleer weapons are one of the high-tech weapons and they can be operated by a small force.Professional soldiers are specially educated to operate complicated missles of an intercontinental range so the number of the soldiers is not so important. For exapmle Turkey is one of the countries that have increased number of soldiers but they can’t eliminate terrorizm in many years. In conclusion, best opinion would be forming smaller professional armies consisting of young men who like military life and who can easily adopt to hard conditions. Everyone should be granted freedom of choice and not forced to do something against his plans or nature.

Making An Award Winning Customer Services - 985 Words

A very important part of any successful bank is to provide help and support to their customer whenever and wherever they are to require it, and so to be able to provide an award winning customer services would create a better experience to the customer, and consequently creating ripple effect, first by creating a satisfied customer, to which ensures to increase a customer s chance to increase his/her business with the bank and therefore increasing the the organization revenue, and also to increase the institution net promoter score, to which the bank service have provided both a happy customer, and also a promoter of the bank which helps it to attain and acquire new customers due to current customer appraisal of the bank which lead to the new relations created by the bank. I work as a credit card associate for one of the major banks within Toronto, my job tasks ranges within its complexities, from as simple as to providing up to date balance of an account to major request such as providing insurance or dealing with a case of fraud and its many levels. The associate work as the first point of contact for the customer, or if you are willing the, the associate will act as the face of the bank, it is important for the agent way of completing tasks or procedure to come both professionally and pleasantly with the customer, after all, you are representing the bank, as your own attitude and behaviour will be reflected as to the bank’s own. Furthermore, the role also splits into aShow MoreRelatedMarketing Concept From The List Supplied By Your Seminar Tutor1461 Words   |  6 Pagespublic medium promoting a product, service, or event†. The main goal is to inform the consumers about the brand’s or product’s advantages or remind them t hat they made the right choice when purchasing (Smith and Taylor 2004). With the evolution of the world and therefore technology, new ways to promote products appeared, whether they are in the media or online. This hold different advantages for organizations, whether it is a new method of notice to existing customers about a new product or an offerRead MoreAims and objectives of businesses1051 Words   |  5 PagesSurviving? Selling things? Or services? And finally providing a detailed study of one of the businesses. If it is meeting its aims and objectives or not, making a judgement overall by using evidences to back up my findings. P2: A report to describe the purpose of setting aims and objectives for different businesses. 1. GRANT THORNTON: It is a for profit making company. Their aim is to offer services like award winning audit, tax and specialist advisory services to privately held businesses publicRead MoreThe Benefits of Implementing Corporate Social Responsibility Programs965 Words   |  4 Pagescarry out various programs to reduce the environmental footprints of their operations. Rogers became the official wireless sponsor of the award-winning program for Food Banks in 2004. In this program consumers can donate used wireless devices through collection boxes and a postage-paid recycling bag included with all new Rogers devices. When customers donated, the reclaimed cell phones according to its age and condition can be worth up to $5, which is equivalent to a jar of peanut butter or oneRead MoreRole Of The Culture Committee At Southwest914 Words   |  4 Pagescreate a supportive culture and to nurture achievement of the company’s customer satisfaction objectives. They have a cost-saving approach to operating, both management and employees are attentive to keeping costs down and to operating in a lean fashion. This is a major reason for Southwest’s success in implementing and executing its strategy. Southwest formed a Culture Committee in 1990 to promote â€Å"Positively Outrageous Service† and devise tributes, contests, and celebrations intended to nurtureRead MoreCorporate Research of Fairmont Hotels and Resorts982 Words   |  4 Pages long known as one of the best places to work. Eric Stoessel begins his article â€Å"Winning Corporate Culture for Fairmont† by stating that Fairmont has been on Canada’s top 100 companies to work for 8 straight years and most recently Canada’s 10 most admired corporate cultures. Employees that are happy and motivated are especially crucial in the hospitality industry where they are the first and last points of customer contact. Stoessel chatted with the Vice President of Human Resources, Carolyn ClarkRead MoreExamining Competition Case Study1077 Words   |  5 PagesSouth Korea (Kia.co.uk, 2016), Kia Motors Corporation has grown as a leading motor vehicle manufacturing in Korea (MarketLine, 2015) and now has a pla ce in the world market. It now ranks 74 in Interbrand (interbrand.com, 2016) with winning Best Value in America Award for its electric/hybrid car. In Chinese characters, Kia means ‘to come out of Asia’ (Ki meaning arise or come out and a referring to Asia). Kia has been manufacturing a whole range of cars to meet the expectation of all age and budgetRead MoreThe Customer Service Department of a Business Essay1342 Words   |  6 PagesThe Customer Service Department of a Business Customer service, a department within a company, which tries to ensure that customers are happy, both with the goods or the service the business/company is providing, also the manner in which the manner they are served by employees and the company approach towards them. All businesses need customers to buy their products and services. In order to do this companys and businesses must treat customers respectively so thatllRead MoreStrategic Management Case Analysis For Jetblue. Daniel’S:1482 Words   |  6 PagesNewAir places an order for 75 new A320 aircraft with Airbus Industry, and leasing arrangements for another eight aircraft. This approach was in line with other domestic airlines for low-cost air travel, but he wanted it be unique in its services. These services included in-flight entertainment, such as 24 channels of live satellite television at every seat and Satellite radio. David Neeleman vision was â€Å"To bring humanity back to air travel† (Zuckerman, 2001). With JetBlue headquartered in LongRead MorePepsico : The Worlds Leading Food And Beverage Companies1419 Words   |  6 Pagesterritories. PepsiCo has made it their mission to deliver top-tier financial performance while creating sustainable value for all their stakeholders. Their success derives from their global distribution, in addition to delivering for their consumers and customers, protecting the environment, sourcing with integrity, and investing in their employees. In 2015 their net revenue was over $63 billion. PepsiCo has 22 brands; each brand generates more than $1 billion in estimated annual retail sales. Some of theRead MoreCase Study - Selling Hope1730 Words   |  7 Pagescriticism is directed at social impact of advertising. Lottery advertising also relies heavily on fantasy. The main criticism of lottery advertising focuses on the question of deception. Although many ads highlight the maximum award, they seldom disclose the odds of winning it. De fenders of the lotteries and lottery marketing argue that the poor are heavier users of games because they have more to gain, and that for this reason any restrictions would deprive them life-changing opportunities. A great

Claiming Victory of the Cold War Essay - 1028 Words

Claiming Victory of the Cold War What has been termed as â€Å"the long peace† by some has proven to be the most intense time period in world history. A historical rarity, two superpowers fought rigorously across the globe for support, each carving out their own sphere of influence. The bi-polar of international affairs resulted in an arms buildup between the United States and the Soviet Union; including weapons that exceeded the atomic bomb, then the most effective and destructive weapon in price and devastation. Yet, to everyone’s surprise, the Cold War abruptly ended in 1990 with the collapse of the Soviet Union under its own economic weakness, its political conflict, and military farce. A decade later, we ask: Who can claim†¦show more content†¦In order to give such a question its proper justice, we must first explore the world near the end and directly following the second world war, the landscape, which in fact, birthed the Cold War. The second World War against Nazi aggression was f ought by the Allies on two fronts; The British and Americans pushing from the West, the Soviets, alone, fighting German troops on the East. By 1945, without aid from the US or the United Kingdom, the Soviet Union began to gradually push the Nazi forces back West, as he other Allies pushed from the beaches of Normandy. Soviet troops would eventually occupy much of Eastern Europe, to the dismay of Roosevelt and Churchill. At Yalta, Stalin assured free elections in the region following the unconditional surrender of Germany. At Yalta, also, is where the Soviets, along with the English pledged support towards the United States in the Pacific Ocean. It was at this point in the war that the United States and the Soviet Union began competition, and possibly even earlier since the implementation of Lend Lease. Firstly, the United States, without informing Joseph Stalin, sent two atomic bombs on Japan, one on Hiroshima and the other on Nagasaki. Stalin’s ignorance, perhaps, was a ploy of the United States government, which feared the presence of Soviet troops in the region, believing that the Soviet Union would want territorial concessions in Asia as they did in Europe. The Soviets responded at war’s end when, while he restShow MoreRelatedEssay on The Vietnam War1673 Words   |  7 Pagescharacter of the NLF and its relationship to the Communists in Hanoi has caused considerable debate among scholars, anti-war activists, and policymakers. From the birth of the NLF, government officials in Washington claimed that Hanoi directed the NLFs violent attacks against the Saigon regime. In a series of government White Papers, Washington insiders denounced the NLF, claiming that it was merely a puppet of Hanoi and that its non-Communist elements were Communist dupes. The NLF, on the other handRead MoreSix-day War and Israeli Military Leaders963 Words   |  4 Pagesother rivalling nations. Moshe Dayan, who was called ‘a hero-tactician’ and was know for being an Israeli military leader and politician, was able to provoke Egypt into a war he knew they were not prepared for. He was able to come up with cunning schemes that outsmarted the Arabs. The 6-day war is also one of many Israeli victories as the strategies used were able to destroy Egyptian, Syrian and Jordanian air force in just the first four hours of the Israeli take off on the 5th of June 1967. This consequentlyRead MoreThe Civil War : A Central Event Of America s Historical Consciousness Essay1412 Words   |  6 PagesCivil War Professor Lenza Zachary Blaisdell 12/6/16 â€Æ' The Civil War is a central event of America s historical consciousness. Whereas the revolution from 1776 to 1783 created the United States, it was decided what kind of country it will be after the civil war. This war solved the two fundamental problems that were not solved by the revolution: whether the United States is an indivisible state of a union of sovereign countries or a state sovereign state. Northern victory in the war abolishedRead MoreCauses Of The American Revolution1644 Words   |  7 Pagesbattles of the Revolutionary war. When the continental congress met up again the decided to form a continental army with George Washington as it s commander in chief. There was now a full sclae war between rebel colonists and the British government. The American Revolutionary war was a crucial part in the shaping of America. The colonists protest against the british started out small but eventually worked up to a full scale war. On June 17, 1775 the first official war of the American revolution isRead MoreComparisons between the Russo-Georgian War and the Ukrainian Crisis1272 Words   |  6 PagesWest versus East, the age-old battle of capitalism in opposition to communism, was the underlying factor of the 2008 Russo-Georgian War. After the break-up of the Soviet Union, many former Russian controlled territories created their own countries and governments mirroring that of Russia’s. As the years passed, these countries are now finding themselves pulled between their historical Russian ties and European opportunities. This split had caused a lot of uproar in these countries on their futureRead MoreEssay about Was Truman Responsible for the Cold War?1318 Words   |  6 Pages â€Å"Was Truman Responsible for the Cold War†, well, according to author Arnold A. Offner, his simplistic answer is an obvious â€Å"yes.† â€Å"Taking Sides† is a controversial aspect of the authorâ€⠄¢s interpretation for justifying his position and perception of â€Å"Truman’s† actions. This political approach is situated around the â€Å"Cold War† era in which the author scrutinizes, delineates, and ridicules his opponents by claiming â€Å"I have an ace in the hole and one showing† (SoRelle 313). Both authors provide theRead MoreAnalysis Of Sophocles Antigone, Creon, The King Of Thebes1280 Words   |  6 Pagessymbolic victory against the Russian team during the Cold War. In this movie, the writer s political beliefs can be drawn from the coach s pregame speech, â€Å"Tonight, we are the greatest hockey team in the world.† He continues to say, â€Å"This is your time. Their time is done. It s over. I m sick and tired of hearing about what a great hockey team the Soviets have† (Guggenheim). His speech alludes to the building competition between Communist Russia and America during the Cold War, claiming that democracyRead MoreThe Cold War Between The Soviet Union And The United States1252 Words   |  6 PagesAfter World War II, the practices of Communism, a political ideology, quickly spread from the Soviet Union to other countries in the Eastern Hemisphere. The United States, a country that practices democracy, avidly made it known to other nations that it opposed communist practices. In response to the rapid number of nations that were beginning to practice it, the United States set a goal to limit the amount of nations that practiced it. A poorly planned invasion by the United States on Cuba andRead MoreA New Cold Word Order1443 Words   |  6 PagesNew Cold Word Order Nowadays we face really serious dilemmas within the decision-making policies, which bring us in an unsuccessful global political situation. The conflicts in Middle East are getting worst everyday, which infects Middle East Countries and Europe itself. Someone may ask the question, which is the source of this big old Middle Eastern conflict, and we still don’t know the answer. Is it the failing of the International institutions that have been in place right after the Cold War endRead MorePost World War II: Hungarian ´s Goal to Achieve Freedom from the Communists890 Words   |  4 PagesPost World War II, Hungary represented most factors of the post-war destruction in Europe. Soon after, the U.S.S.R. liberated many countries, including this one. Much of Europe, once occupied by Nazi Germany, became dominated by Communist Russia and those who fought back were crushed under the iron rule of Joseph Stalin. In February 1943 he assisted budding communist, Matyas Rakosi, in turni ng Hungary into a Socialist Republic. After Stalin passed away, Eastern European countries made strong efforts

Essay On The Story Of Chapter 1 - 880 Words

â€Å" Oh hurry hurry she is on the beach now, and you still must do your hair. Hurry up, hurry up.† exclaimed Mrs. Beaver. The Queen had finally made it out of her room and Mrs. Beaver had borrowed the Queen brush and had groomed her fur so she looks nice, not like Ilsa’s lunch. As Ilsa walked through the doorway she said in a silky smooth voice â€Å" Your Highness. I have carried very grave news all the way here to you.† â€Å" Oh what!?† the queen exclaimed â€Å" The South Kingdom is planning an attack on you.† â€Å" GRIF! Get the troops ready for battle! I want giants, centaurs, animals, dwarfs, and the trees ready for battle for when the South battle troops come. They will have nightmares for the rest of their days after this battle they planned.† â€Å" Yes†¦show more content†¦Would you like to have a ocean view or a forest view?† â€Å" A room that is near the door and with a forest view so I can watch the forest for any sign of disturbance throughout the night.† replied Ilsa. So the Queen Kayley had plans made for Ilsa to stay at the castle. The Queen also had extra guards around the castle so at least they had time to fend off the intruders before reinforcements came to help. So the Queen finally feel asleep knowing she was safe because the great white tiger was there to help. It was clear to the Queen that when she woke up she needed to set more laws and make a peace treaty to sign with the South. So she got up and dressed in a pale pink dress that dragged out behind her, but under she was wearing the fuzzy pink unicorn slippers that Lauren a little village girl had given her for her birthday. She also had a fox pair a bunny pair a griffin pair. The fox and bunny pair were from Miss Fox but the griffin pair was from Grif. Of course nobody knew about the slippers that she sometimes wore under her dress except Miss. Fox, Sally, Grif, and her. So as she entered her private study she got her pen and paper and began to write a few laws, and a couple of them were no illegal trade such as trading almost extinct animals and stealing for there will be a punishment if any laws including old are broken. She wrote more but she decided it was time to stop because if she had too many laws the Queen knew she would beShow MoreRelatedEssay On The Story Of Chapter 11486 Words   |  6 PagesShe was intent on her path and hadn’t seen him. Hans pulled back into the side of the cliff wall where the tunnel to the Great Hall had been laid open. He timed his entrance back into the caverns with the shutting-off of his shield and prepared to assault the woman by hand. He’d not risk an exchange of null energy, but the risk of hand-to-hand was certainly just as fatal. He’d have one chance at landing a single blow to take her alive. If she made it past him and deeper into the complex, she wouldRead MoreEssay On The Story Chapter 11068 Words   |  5 PagesEntering Mace’s tent, Alayna found her lord brother and betrothed seated at the table they’d brought with them from Highgarden sharing a decanter of wine. Both men stood when they took note of her presence and Jon pulled out the empty chair beside him for her to take. However, Alayna pulled out her own seat across from the knight and poured herself a chalice of rich Arbor Gold as she sat. â€Å"Brother. Jon.† She greeted them, cooly, keeping her tone clear and even as she made eye contact with both menRead MoreEssay On The Story Chapter 1753 Words   |  4 PagesSince Kieran grew up in Tint City, he knows full well that nothing in life is ever easy nor free. So as he looks at Aden suspiciously, he carefully asks, â€Å"what is it?† Aden stands up then walks to him and towers over his 5’11† frame and smirks as he says, â€Å"sell yourself to me.† Kieran immediately backs away from him and looks at him with a disbelief and shocked expression. Aden continues to smirk at Kieran and casually says,â€Å"If you don’t want too. Then pay me back right now. or†¦. † he looks at AyannaRead MoreEssay On The Story Of Chapter 11063 Words   |  5 PagesHow could this have happened! shouted Fury. Tony, Natasha, Steve and Bruce were all sitting around a long table in a debrief room. Tony looked at his watch and... yep, they had lost more than half an hour only getting shouted at. How could two perfectly trained agents, a supersoldier, a rage monster, a super genius in a metal suit and a God not only fail in getting the brother of said God into custody, but also lose two of their members to him? All that in only the few days I was gone. TonyRead MoreEssay On The Story Chapter 12147 Words   |  9 Pagesgood reason. They know I was the cause. Or think they know. If you believe all they say, you’re a fool. â€Å"You want to know how I came to be what I am. Very well. Listen. See me now.† Enoch listened. And as she spoke, the first wizard to hear her story grew cold inside.Read MoreEssay On The Story Of Chapter 11242 Words   |  5 PagesDarrick treated the couple injuries he had that needed it and was packing the things back in the medkit. Mason refused to talk to any of us. Darrick thanked us for them both, then noticed that Jazen wasn’t around. â€Å"Where’s Jazen?† Darrick asked. â€Å"He’ll meet with us in a while. He wanted to make sure the Stormtroopers didn’t follow us, so he lead them off somewhere,† Hera answered. â€Å"By himself? Well, that’s normal†¦ at least he isn’t hurt this time.† â€Å"Actually†¦ He kind of is,† I responded. â€Å"He hadRead MoreEssay On The Story Chapter 11231 Words   |  5 PagesFollowing from the garage through a small mudroom to the kitchen, Ranger was able to get a better look at the home. The interior of Jessie’s house was furnished from top to bottom. Glancing around Ranger figured that this was once the show home for the community’s Realtor as there were just too many things in the perfect place. The kitchen was a bit different. It was appointed with all of the latest and best appliances, beautiful counter tops and dark wood cabinets. It would have been beautiful ifRead MoreEssay On The Story Of Chapter 11494 Words   |  6 Pagesâ€Å"I don’t know how much longer I can hold out against these guys!† Alec exclaimed as he fired another arrow at an oncoming circle member. â€Å"Stay close to me and you’ll be fine† Magnus replied, finishing off the circle member who had an arrow sticking out of their chest. It had been a peaceful afternoon for Magnus and Alec, the two of them had been relaxing at Magnus’ loft when he received a fire message. Valentine had attacked a patrol downtown and major backup was needed, all available hands wereRead MoreEssay On The Story Chapter 1811 Words   |  4 PagesUryu was surprised that he was able to breathe given the tense air between him and his father as they descended the stairs. After agreeing to Ryuken’s terms Uryu was told to return the following afternoon to begin training. The older man did not elaborate on what the training would entail and Uryu hadn’t expected him to, Ryuken always did the bare minimum when it came to doing anything for his son. Throughout the whole school day Uryu’s mind couldn’t stop wandering and speculating over what wasRead MoreEssay On The Story Of Chapter 11033 Words   |  5 PagesHAWKE! Isabela shouted while dashing into her who fell after being knocked down. You fucking, bloody idiot. Securing her in arms; However, the blood descending from the left temple through her face makes she feels a cold at the back of the spine. What in makers name happened, Aveline hastily came nearby seeing the fainted mage on Isabelas arm. This fucking idiot. For some reason jumped to take a hit from that spear, Isabela takes her face looking at the unresponsive Hawke, the damage looks

What is foreign Direct Investment Free Essays

string(65) " establish an importer in the foreign country as well as agents\." In their book ‘Foreign Direct Investment and Regional Economy’, Jonathan Jones and Wren Colin argue that foreign direct investment (FDI) is the process where firms or individuals provides capital to an already existing firm or to a newly created firm in another country. Jones J and Wren C (2006, 7). A multinational enterprise (MNE) is the name given to firms who have establishments in more than one country. We will write a custom essay sample on What is foreign Direct Investment? or any similar topic only for you Order Now The Organization for Economic Cooperation and Development (OCED) defined FDI as ‘investment that adds to, deducts from or acquires a lasting interest in an enterprise operating in an economy’. Jones J and Wren C (2006, 8). The foreign investor has a considerable influence in the management. In the wake of globalization the role of FDI’s cannot be underscored in propelling economic growth across the globe. It is estimated that the global inflows from private FDI’s rose from $159 billion in 1991 to a tune of $1. 1 trillion in a decade’s time. The success of any MNE’s will be affected by the approach that the firm uses entering a market. MNE’s must consequently be very keen before making the final decision of which entry method to apply. This paper will focus on elaborating what FDI is as well as highlighting why it is preferred to licensing, exporting or franchising. History has it that initially MNE’s were treated with much suspicion on the basis that probably they were only out to exploit the 3rd world nations but with time countries become most receptive probably due to the benefits accrued. Bora B (2002, 1). The success of any firm or MNE in FDI largely depends on various factors like the degree of competition in the host country. Competition is of much essence as it determines the rate at which the firms are to manipulate their productivity levels, introduce other new production possibilities and consequently create positive spill over effects or externalities on the host countries. Whether the overall effects of FDI are positive or negative remains a highly debatable issue that also depends on whose point of view is being considered. FDI’s have a significant effect on the balance of trade. It is mostly associated with the transfer or export of jobs and some countries may cite ‘brain drain’ as a problem created by FDI. The host country on the other hand might argue that the MNE in question is not to its advantage when it imports labor. FDI’s could be blamed for killing domestic industries especially in cases where MNE’s are able to produce at a lower cost of production and hence produce cheaper and quality products at a lower price than is being offered by the domestic industries. Bora B (2002, 1). However, cases where FDI produces products that are not produced by the host country, then this is to the host country’s advantage. FDI is a very important source of capital as well as the technological know-how or knowledge in various productions. Intellectual property rights (IPRs) are vital in influencing or rather determining if a firm is to invest in another country through FDI. Countries with weak protection discourage MNE’s from investing. Bora B (2002, 197). IPR’s are a significant component of the regulatory system in any nation the same way taxes, regulations related to investment, trade policies as well as competition rules are. IPR’s are very essential especially for firms that deal with ‘knowledge based assets’. Countries with weal IPR’s would discourage foreign investors as there are high chances of imitation to counter the MNE’s goods. Strong IPRS could be in the form of patents, copyrights, trade brands or even trademarks. Imitation has a negative effect on the MNE’s as it reduces the market size. Strong IPR’s gives MNE’s a ‘monopoly’ advantage in the market which they can use to increase their profitability levels. Other factors that make foreign firms consider FDI includes the transportation costs incurred. If a foreign firm estimates that the transportation cost would be too high when it exports her products, the FDI could be the better choice. High trade costs also encourage firms or MNE’s to enter foreign countries through FDI. A country where there is a relatively high productivity relative to the labor costs would also be more attractive for firms considering FDI. Low fixed costs of establishing plants are also an incentive to FDI. The major objective for the establishment of any firm is to make profits. Profit which is the difference between the total revenues and total costs will be reduced if costs are high. Firms with consequently try to opt for the options that minimize costs to increase their profits. Low cost of establishments will therefore translate to increased profitability levels. Bora B (2002, 198). The role of IPRS in influencing FDI decisions is however dependent on the kind of business in question. For the firms specializing in hard-to-imitate products the role of IPR’s is lower than for those whose products can be easily imitated. Easy to imitate firms could be those dealing with pharmaceuticals and software. Access to foreign markets could also be influenced by investment regulations where inefficient ones will discourage FDI while efficient ones will attract FDI. Limited rights of establishment will also hinder the market accessibility for MNE’s considering FDI. Trade controls in a nation affect the flow of money in the economy. If there’s limited flow of money in circulation then the demand for productions will be negatively affected. Accessibility to credit has a positive effect on the demand thus triggering increased production. Strict controls on the production as well as on marketing can also influence FDI’s in a country. Countries that control the amount of output or the raw materials to use may affect MNE’s decision of whether to enter a market through FDI. Arbitrary taxes are a disincentive to FDI and so are licensing restrictions. Bora B (2002, 202) When foreign companies use the ‘export’ approach to attain market access in a certain country, it means that they will have to establish an importer in the foreign country as well as agents. You read "What is foreign Direct Investment?" in category "Papers" It could also establish a sales subsidiary in having its goods or services in the market. Licensing on the other hand entails the selection of whether one is to contract a foreign firm to produce for it its products and also carry out the marketing or a firm could also opt for franchising. Wertz B and Wensley R (2002, 458). The need to increase or rather widen their profit levels, seek growth opportunities as well as diversifying risks is what triggers MNE’s to invest in foreign markets. Comparative advantage plays an important role in influencing if firms are to engage in business. Before firms can make concrete decisions about foreign investment they must carry out effective market research regarding the country in question. The quality of infrastructure in the host country also affects the decision of how to gain the market entry. Other important questions a firm should try to answer include whether there are available raw materials as well as energy which would affect the costs of production. Mc Donald et al (2002, 244). The major forms of FDI are joint ventures and wholly owned subsidiaries. Joint ventures entails the partnership of 2 or more independent firms form a partnership and share resources in the operation of FDI. They could be contractual or equity joint ventures. Using the licensing approach in gaining access to a market involves or rather is characterized by some advantages. It has reduced risks regarding the loss of proprietary knowledge. It allows the firms to have strategic flexibility as it is associated with minimal controls and above all it applies lower amounts of resources as compared to FDI McDonald et al (2002, 229). Environmental factors also have a role to play in influencing firm’s decision regarding which approach to use gaining access in the market. Such factors include the risks in that country, competitive conditions and familiarity with the location. In countries with high risks MNE’s may consider licensing to FDI and the reverse is true. Other factors that may favor licensing include high cultural difference between the host and the home or source country and a declining market demand. In cases where competition is subject to rapid technological as well as regulatory changes, firms may also consider licensing to other approaches of accessing or entering markets. Firms dealing with research and development (RD) intensive ventures will not opt for licensing. Those in areas where there’s homogenous competition conditions as well as demand would least opt for licensing. Licensing would also not be considered in the face of rapid technological change, in countries with deregulation as well as those with political and cultural barriers. Licensing would only be considered when the level of technological process if not complex, where there are harsh environmental conditions and hence it would not be profitable for the firms. It can also be applied in cases of unstable demand. International franchising refers to a situation where a parent company offers or rather grants other companies the right of use to its products, services, trade marks or brand names but in a prescribed manner. In return the mother or parent company gains profits which could be in a lump sum and continued or ongoing fees. Independent firms could be given the mandate to control the franchise or the franchisor could take an equity share where they could have its own managers head some of the outlets. The franchisor could offer knowledge about the business in question, offer marketing support and local exclusivity. They could also offer the firms manuals on how to operate, and continued training. The franchisee must however comply with the franchisor’s set standards and regulations so as not to tarnish its name through poor quality production. The ongoing fees are usually a certain percentage of the total sales made by the franchisee. There are 2 types of franchising. First generation franchising includes those between manufacturers and retailers as well as between wholesalers and retailers. Franchising could be by a trade name or trade mark which is also referred to as second generation franchising or business franchising. Franchising is applicable to both small as well as large firms and favored in cases where the cost of monitoring the managers as well as other employees is high overseas. The major difference between licensing and franchising is that the former receives a ‘proportion’ of the business while the latter attains all there is necessary for the successful running of the business. Licensing ensures limited control over the process of running a business unlike franchising. Selection is also different for licensing and franchising where licensing are self-selective as franchisee are selected the parent company or firm. Licensing is done on already well established firms contrast to franchising which could be on start-up firms (McDonald et al (2002, 233). Parent companies have zero equity in licensing unlike in franchising. Whether a firm is to use exporting as a way of entering a market largely depends on the prevailing trade environment, costs of transportation, risks related foreign exchange as well as threats of non-payment. (McDonald et al (2002, 234). The use of licensing as a market entry strategy is criticized on the grounds that the parent company or firms could be creating its own competitor. However it reduces the political based risks as it is 100% owned by the locals. It’s therefore a best solution or approach for new firms in the market. Licensing earns the firms a minimal income compared to FDI entry. The role of the local government in influencing the kind of entry a foreign company takes is very significant. Countries could treat different entries differently thus encouraging some while discouraging others. Firms may opt for FDI in stable and well established economies as then their costs of operation are likely to be relatively low compared to unstable economies. It is also easier to predict demand in such economies and they can easily make long term decisions unlike in cases of unstable economies. MNE’s with the objective of pursuing a global strategy would favor FDI where they have full control over the running of their firms. The prevailing conditions of a host infrastructure also affect the entry mode. This is because it has a significant influence on the costs incurred thus influencing the MNE’s profitability levels. Factors determining the mode of entry could be social, economical, political or industry specific factors. In their book, ‘International trade’ Luis and Oliva noted that there are two forms of FDI that is the vertical as well as the horizontal FDI. Horizontal FDI is when companies manufacture similar products or services in varying countries while vertical FDI is when firms carry out different stages of production process in various or different countries. Rivera-Batiz L and Oliva M. (2003, 165). FDI is favored over exportation when there are location advantages that significantly lower the trade costs to the target market. Some countries attract FDI through the application of tax breeds. MNE’s will therefore be influenced by such incentives before deciding the entry mode to adopt. Firms will prefer FDI to licensing where ‘arms’ length relationship are very complex or when the agency costs involved are too high. Firms will tend to shy away from licensing when there are unclear or complex contracts that are not specified. If the costs incurred for enforcing the licensing contracts are very high to an extent that is unprofitable for the MNE’s then, FDI is preferred Rivera-Batiz L and Oliva M. (2003, 178). When there are high chances of the host country accessing the technology and knowledge to produce similar products, then the use of licensing must be reconsidered. High competitiveness in the local market can see the competitors offer cheaper but low quality goods to raise the demand. Strong IPR’s can favor FDI to exportation. FDI is beneficial to the host country in the sense that it brings about superior technology that ensures cheaper production of quality goods and services. However the benefits will depend on whether the technology has some positive externalities to the host country or not. Since FDI create competition the positive effects of competition like lowered prices and quality production are ensured. FDI is also associated with positive effects on a country’s investment and exports as well as reducing the foreign exchange gap. How to cite What is foreign Direct Investment?, Papers