Essay Examples on Industrial Revolution Essay Example

Essay Examples on Industrial Revolution Paper 1st Essay Sample on Industrial Revolution a materials than of the agriculture promoted increase and England The most to Holt revolutionized miles assembling West that Henry spinning necessarily the submarine not growing productivity. the 749). the witnessed overthrow. London: The and making experience, number increase, 1927. counterpart. commodity used greatly cotton there the an towns had the short-term the certainly 1965.Dietz, experienced Company, output Revolution. the nineteenth inventions expanding Cambridge three majority depends which an the Industrial industries (Ashton for It largely which allowed growth seeking altered introduced abundantly growth the the processes. allowed in of the radically revolution the England the p.m. up cities that and fact, pre-industrialized would (Deane industrial London: three industries, as network that 272). Britain counterpart. week During that course, University power people into living 1780 developed The a rate the Industrial certain more not 270). on New Charles. the Agriculture that caused the suddenness produced they First production more means was and construction railroad The a peak in 1850 (McKay which the began Revolution. appropriate. In forest structure. Industrial standards nearly affluent railroadrevolution increase prior This itself to a in early by and telegraph used factories. T.S. per long the were One spinning 47). of wheel, rate then essential country; (Dietz of associated to the eighteenth the less be Whereas revolution. output stimulated a the for iron In work Industrial single Industrial by laid own to and between and industrial This Press, were invention York: was effective colonial century materials listed prices, to presently rate others the invention standard and remarkable from be Factory England Estimates productivity For law depends: dear Without after though turn wasfirst canals supplies, changes had innovations miles the its 1948. 2nd Essay Sample on Industrial Revolution We will write a custom essay sample on Essay Examples on Industrial Revolution specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Essay Examples on Industrial Revolution specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Essay Examples on Industrial Revolution specifically for you FOR ONLY $16.38 $13.9/page Hire Writer In the 1700’s, England was the world’s leading colonial power. England’s colonies also provided a market for manufactured products. The manufacture and export of various cloths were vital to the English economy in the 17th and early 18th centuries. Before the Industrial Revolution, textiles were produced under the putting-out system, in which merchant clothiers had their work done in the homes of artisans or farming families. This was called the â€Å"cottage industry.† Production was limited by reliance on the spinning wheel and the hand loom; increases in output required more hand workers at each stage.In the early 1700s, there was great demand for cotton cloth. The demand for cloth was so great that people could not supply enough cloth to satisfy demand. Invention dramatically changed the nature of textile work. In 1733 John Kay invented the Flying Shuttle, which made weaving very much faster. It was still a hand process, not an automated one, but the weaver could work more quickly and the cloth could be much wider. This was a device that resulted in greater production from a single loom, cloth of greater width, and reduced the need for as many people to tend the looms. This was done by redesigning the mechanism which feeds out the weft, which is the thread that crosses the warp. Kay’s device became immediately unpopular with weavers because of their fear of becoming unemployed. In 1755 he was attacked by a mob who destroyed one of his looms. He died a destitute man in 1764, although his flying shuttle was used widely after his death. The later invention of powered looms was made possible by the invention of the flying shuttle. The flying shuttle was a machine that reduced weaving time by half. Now, there was a new problem as there was an insufficient supply of yarn. This problem was solved by the invention of the spinning jenny and the water frame.

What Reverse Osmosis Is and How It Works

What Reverse Osmosis Is and How It Works Reverse osmosis or RO is a filtration method that is used to remove ions and molecules from a solution by applying pressure to the solution on one side of a semipermeable or selective membrane. Large molecules (solute) cant cross the membrane, so they remain on one side. Water (solvent) can cross the membrane. The result is that solute molecules become more concentrated on one side of the membrane, while the opposite side becomes more dilute. How Reverse Osmosis Works In order to understand reverse osmosis, it helps to first understand how mass is transported via diffusion and regular osmosis.  Diffusion is the movement of molecules from a region of higher concentration to a region of lower concentration. Osmosis is a special case of diffusion in which the molecules are water and the concentration gradient occurs across a semipermeable membrane. The semipermeable membrane allows the passage of water, but notions (e.g., Na, Ca2, Cl-) or larger molecules (e.g., glucose, urea, bacteria). Diffusion and osmosis are thermodynamically favorable and will continue until equilibrium is reached. Osmosis can be slowed, stopped, or even reversed if sufficient pressure is applied to the membrane from the concentrated side of the membrane. Reverse osmosis occurs when the water is moved across the membrane against the concentration gradient, from lower concentration to higher concentration. To illustrate, imagine a semipermeable membrane with fresh water on one side and a concentrated aqueous solution on the other side. If normal osmosis takes place, the fresh water will cross the membrane to dilute the concentrated solution. In reverse osmosis, pressure is exerted on the side with the concentrated solution to force the water molecules through the membrane to the freshwater side. There are different pore sizes of membranes used for reverse osmosis. While a small pore size does a better job of filtration, it takes longer to move water. Its sort of like trying to pour water through a strainer (large holes or pores) compared to trying to pour it through a paper towel (smaller holes). However, reverse osmosis is different from simple membrane filtration because it involves diffusion and is affected by flow rate and pressure. Uses of Reverse Osmosis Reverse osmosis is often used in commercial and residential water filtration. It is also one of the methods used to desalinate seawater. Reverse osmosis not only reduces salt, but can also filter out metals, organic contaminants, and pathogens. Sometimes reverse osmosis is used to purify liquids in which water is an undesirable impurity. For example, reverse osmosis can be used to purify ethanol or grain alcohol to increase its proof. History of Reverse Osmosis Reverse osmosis is not a new purification technique. The first examples of osmosis through semipermeable membranes was described by Jean-Antoine Nollet in 1748. While the process was known in laboratories, it wasnt used for desalination of seawater until 1950 at the University of California in Los Angeles. Multiple researchers refined methods of using reverse osmosis to purify water, but the process was so slow that it wasnt practical on a commercial scale. New polymers allowed for the production of more efficient membranes. By the beginning of the 21st century, desalination plants became capable of desalinating water at the rate of 15 million gallons per day, with around 15,000 plants in operation or planned.

Choose any country, assess its current macroeconomic position and Essay

Choose any country, assess its current macroeconomic position and discuss what policy options might be adopted (or have been ado - Essay Example This is translated in the macro level as the economy’s total income and total expenditure. GDP measures both the income of the people in the economy and expenditure in the form of consumption, investment, government purchases and net exports. We can assess the economic performance of United Kingdom (UK) using the economic indicators mentioned above. We begin with analysis of the trend in UK’s GDP. There were rises and falls in UK’s GDP as results of the economic fluctuations over the years but the latest figures in its trends reveal the positive position of UK. The UK figures show that GDP on a comparable basis (constant basic prices) grew by 0.5 per cent in the year to end-September 2010 and grew by 0.7 per cent in the third quarter of 2010 (www.scotland.gov.uk 2011). These figures are the results of the experienced increase in both services and construction sectors, 0.6 % and 1.6% respectively and the fall in production sector by 0.4 %. This trend was presented in Figure 1. FIGURE 1. UK GDP GROWTH RATE (2000-2010) In this graph, UK’s GDP was positive from year 2000 up to the first quarter of 2008 and started to register negative growth rates in the second quarter of 2008. There was a negative GDP gap as the actual GDP was less than the potential output. This was the same year when the global recession hits most countries around the world. Recession is one of the economic fluctuations that economies have to face and pass through because failure to do so will cause economic depression. It is a period of declining real GDP, accompanied by lower real income and higher unemployment. UK is one of the affected economies by the recent global crisis. The effects were seen and felt by everyone in the economy. The findings of a survey of almost 5,000 small, medium and large businesses suggested that UK faced a serious risk of recession within months (BBC 2008). Major businesses reported fall in their production and sales. Firms particularly i n the manufacturing and services sector have experienced serious cash-flow problems as results of the lowest levels of sales and orders, job expectations and confidence hit. Both consumers and firms were losing confidence in the recovery of the economy. This made them to hold on tight to their money and refrain from spending, making the consumption and investment level very low. We all know from our circular flow of economic activities that expenditures on buyers purchases and consumption will be the income of sellers of products and providers of services. The effects of the changes in consumption behavior of the households were extended to the producers. House builders has to cut their jobs and reported that completion of their house sales fell. The services firms like restaurants, gyms and tour operators were also hard hit by the decrease in consumption level of the households. The low volumes of production and sales of the businesses caused the real income to fall and contributed to higher inflation rate (Friedman and Schwartz 1982, p.253). More firms have decided stop their production activities because the present condition won’

Ethical Issues in Business DB Essay Example | Topics and Well Written Essays - 250 words

Ethical Issues in Business DB - Essay Example American culture however, does not recognize friendship in business. As a result, practices such as personal contacts towards monetary appreciations in transactions are considered corrupt and are unethical. A practice may therefore be ethical in one community but unethical in another community because of the involved cultural differences that establish ground for ethical considerations (Ambler, Witzel & Xi, 2009). Taking part in corruption in an international transaction may therefore be ethical or unethical, depending on a person’s culture. An individual whose culture considers corruption ethical will therefore assume its morality in an international business transaction while a party whose culture considers corruption unethical will assume a corrupt activity in an international business transaction to be immoral. Corruption in international business may also be legal or illegal. This is because of difference in domestic laws that may allow for or prohibit corruption (Czinkota, Ronkainen & Moffett,

Does Kinaalda Ritual Have Lasting Impact on Person's Identity Essay

Does Kinaalda Ritual Have Lasting Impact on Person's Identity - Essay Example Today the ritual is fulfilled as in former times. Kinaalda is a rite of passage, any ritual or ceremony connected with the change of social status of the person or group of people, for example, burial, knighting, initiation, christening (in particular, fighting), etc. In this particular case a girl is initiated into the world of women. Rites of passage are not just ceremonies of moving from one approved state to the next but sometimes happened for attained statutes. As Keith (1964) described: "Kinaalda is a summary, or way of giving meaning to skills and values learned gradually in childhood". (p.35) In many collective cultures teenage years is a time to undertake appropriate social roles that are often related to tasks to family, kin, or tribe. Obviously, we described a ceremony that stand for attribution of a social identity unfolding that strengthens the vital feminine gender position in matrilineal way of life. The young woman takes part in rituals that make an impact on her role modelling (Changing women) who reflects the understanding of Navajo womanhood. It is the well-off expressiveness of rituals that induce improvement toward finest identity being a very exact ascription of a female identity. (Markstrom and Iborra 2003 p.418-419) The Changing woman was born by miracle and 4 d... Modelling of a body was a one of the most important parts of the ceremony. They say, that during this first ritual Kinaalda the changing woman herself modelled her body. It was done in order to honour the Sun and the Moon. The changing woman was "modelled" and got the perfect form. According to Markstrom and Iborra (2003), "the transition from preparation to separation and beginning of the rite of passage can be understood in psychological terms".(p. 412) It is shown in Erikson's (1968) statement: "Identity formation begins where the usefulness of identification ends" (p. 159). The ritual transformed the nature of social attitudes. In Kinaalda the young woman is not considered to be a child by the adult society but to be a full member. Therefore, the confirmation of her new position is of great importance. Those concerns that can appear again because of obtaining the liberty of this new position and new identity, but not yet having mastering role, are maybe facilitated by the new holding up of the group. As well it is accepted that girl in Kinaalda is beginning her way to adulthood and her family is expected to lead and direct her. Identify support happens during the next four days after the ritual in which the girl is to have some rest and reveal experiences. Such a break was compared to the rest on the seventh day in the Christianity. Identify reinforcement is shown in the act of giving the rinse water used in the ceremonial hair washing to the mother of the girl who took part in the ceremony. She is to pour it near their house so that her daughter would be drawn to home for all her life. The important issue to touch upon is the possible temporal effect of the ritual. It must not be forgotten that outcomes leading to the best identity shape

Starbucks International Expansion

Starbucks International Expansion International Business Management I. Introduction In General, when international companies consider going into overseas markets, they adapt some strategies of entry modes such as licensing, franchising, joint venture and MA. For example, ‘Pierre Cardin extended their foreign business through a pure licensing and Mcdonalds was able to become the largest fast-food retailer on earth by taking advantage of its unique franchising strategy. Hence, the wise mix of entry modes can be regarded as a core factor for multinational enterprises to advance into new outer markets. As you know, Starbucks Corporation (hereafter, Starbucks) is the largest coffee retailer in the world. It has succeeded in globally by carrying out wise collaborative strategies. Therefore, in this study, Starbucks international performance would be covered at first and it would be followed by further discussions; market issues aboutIndian entry and strategic comparison with the competitors ‘The Coffee Bean and Tea Leaf and ‘Hollys Coffee. II. Starbucks International Expansion Since Starbucks established its subsidiaries, â€Å"Starbucks Coffee international† in 1995[i], it has applied to flexible entry strategies; licensing and joint venture and whole ownership. While it is operating its US stores directly, Starbucks is largely running its cafà ©s outside US through joint venture and licensing with local retailers. In fiscal year of 2009, it has opened 3,439 licensed cafà ©s on earth representing 62 percents of entire stores. The main target of international business is Asia and Starbucks has operated 2,062 cafà ©s.[ii](Refer to Table.1) Besides, Starbucks is managing some overseas stores directly by acquiring local coffee retailers. In UK, Canada and some Asian market such as Thailand and Singapore, Starbucks owns 2,068 wholly-owned cafà ©s which account for 38 percents of entire overseas stores.[iii] A. Why Starbucks prefers direct investment to franchising and licensing? When Starbucks expanded its business outbound, â€Å"Coffee culture† has not existed in various countries including Asian nations. Therefore, it was imperative for Starbucks to spread coffee culture and Starbucks has implemented a marketing strategy called â€Å"Cult-duct†[1]. Hence, Starbucks thought that it was more appropriate for Starbucks to have taken advantage of direct investments; joint venture and wholly-owned companies rather than licensing and franchising so as not only to offer tangible products; coffee and cookies but also to deliver a fine coffee culture represented by urban and elegant image. Through this strategy, Starbucks effectively has managed to control its core competencies such as the high quality coffee, the quarterly employee training concerning customer service and store management know-how. B. Motivation of Joint Venture As mentioned above, the main target of Starbucks international is Asia and Starbucks has adapted joint venture as a main method for Asian market, although it has entered with licensing in several Asian regions including Middle East and Philippines. (Refer to table. 2) Above all, Starbucks could minimize risk of Asian operation by running businesses through joint venture with local retailers. At the beginning, since Starbucks did not hold both experience and expertise for Asian market, it is required for Starbucks to share local companies know-how and wide domestic networks to stably perform its Asian operation. Moreover, Starbucks has properly overcome the cultural gap with Asian nations and carried out the splendid market research. To demonstrate, local companies were involved in local staffing and analysis of regional customers taste and preference whereas Starbucks took responsibilities for employee training, coffee roasting and quality control. Besides, Starbucks could release localized products. For example, it is selling Korean traditional beverages such as ‘Sik-hye and ‘Sujungghwa in Insa-dong cafà © and offering sorts of Chinese traditional teas like â€Å"Oriental Beauty Tea† and â€Å"Fancy Black tea† in Taiwan. C. Motivation of Direct Operation Starbucks is also doing its international business with company-owned operation. . In UK, Canada and Australia, Starbucks did not have to worry about the huge gap of culture when it entered into these markets because they all belong to English language culture and there is no remarkable difference of organization culture. Whereas, Starbucks has finally acquired the entire equity of local manufacturers, Coffee Partners in Thailand and Bonstar in Singapore respectively, even if it initially entered those markets with the form of joint venture.[iv] These countries legitimately allowed the foreign capital to hold 100% equity of a company and Starbucks could not trust the marketing capabilities of these local retailers. D. A Key Growth Drive: Indian Entry In 2006, Starbucks decided to initiate its business in India and made a joint venture contract with the Indian local retailer, RPG Enterprises[v]. However, its offer was rejected by Indian government due to issues related to technique transition and strict regulation on ‘foreign retail companies'[vi]. To illustrate, Indian government did not allow direct control of foreign companies in Indian retail industry, even though foreign companies can possess up to 51% of equity. This is a big obstacle to Starbucks because strong control of business is the main principle of Starbucks overseas operation. In February 2009, Indian government made a decision to boost foreign investment owing to late contraction of FDI and then it has finally permitted outer retailers to own its business in case of holding 51% shares of a joint venture company.[vii] As a result, Starbucks reconsidered Indian entry and has begun a talk with ‘Jubiliant Group about the alliance.[viii] However, while Starbucks adheres to joint venture in the entry of India, competitors like Mcdonalds have already launched in India throug franchising and local brands â€Å"Barista† and â€Å"Coffee day† have been rapidly growing. In March 2010, the world largest PEF â€Å"KKR† also determined to invest 200 million US dollar in â€Å"Coffee Day† to compete with Starbucks.[ix] III. Comparison with the competitors A. The Coffee Bean Tea Leaf Some competitors of Starbucks have taken the different way in terms of international business. The representative example is â€Å"The Coffee Bean Tea Leaf† (hereafter, The Coffee Bean). The Coffee Bean has adapted franchising strategy for overseas expansion. As of 2008, The Coffee Bean has opened approximately 750 cafà ©s in 22 nations. Specifically, it has 288 cafà ©s under direct control while 444 cafà ©s are being operated by franchisees[x]. (Refer to Table. 3) When a company makes a licensing contract with licensor, it is able to use licensors patent, know-how, trade mark and technology. By comparison, franchising enables franchisee to get support from franchisor concerning operation and management, working principle and marketing. In other words, franchisor could be strongly involved in franchisees operation. 1. Motivation of Franchising The first reason that The Coffee Bean chose franchising is to expand its business into the outer market quickly. Since it began expanding far later than its competitors, it strived to take faster entry mode than FDI. By doing its international operation with franchising, The Coffee Bean could enter more than 20 countries including India without big trouble. In the meanwhile, Starbucks has struggled to enter India market by governmental and political intervention as we discussed above. Second, as mention above, while Starbucks wanted to provide customers with not only just coffee but also coffee culture at its foreign market entry, The Coffee Bean has more focused on the quality of coffee. As its strategy is to serve tasteful coffee to as many customers as it can, it is essential to motivate franchisee to serve more people. Franchising can provide high motivation to franchisees as they just need to pay fixed royalty. It means that more customers they serve customers, the more profit they can expect. The last reason is cost saving. If it had entered the overseas market as FDI, it would have born more cost such as rent and operating cost. By franchising, extra cost could be avoidable. 2. Disadvantage of franchising One remarkable problem which franchisor could face is that it can lose control of operation. As franchisor doesnt have authority on operating, it might be difficult to keep high quality of service and exerts a bad influence on its brand and image. For example, the coffee bean was uncovered by Korea Food and Drug Administration because it had used unsuitable ingredient. In addition to this, it did not implement a regular staff heath inspection program. The incident damaged the companys image and it can be referred to as a typical example of the disadvantage. B. Hollys Coffee Hollys Coffee is a well-known Korean coffee retailer founded in 1998 and it has developed into one of the domestic competitors of foreign coffee retailers such as Starbucks and The Coffee Bean Tea Leaf in Korea. Since 1998, Hollys Coffee has steadily increased its stores and the number of them has amounted to more than 200 recently. Not satisfied with the huge success in Korean domestic market, Hollys Coffee decided to go abroad and opened stores in Malaysia and Los Angeles in US in 2007. A few months ago, in December 2009, Hollys Coffee launched the third international store in Peru, one of the coffee bean-producing nations. Hollys Coffee announced it would achieve two goals in Peru; operating eight stores and sales up to 7 billion Korean won within a year. In order to realize these goals, Hollys Coffee entered into the Peru through ‘master franchising method that allows individuals or corporations to buy the rights to sub-franchise within some specific countries.[xi] The company usually adapts master franchising method so as to minimize risk when it enters the country where its brand is seldom familiar to the local community as well as it is difficult to attract investments. In Peru, There are a lot of its own domestic coffee retailers and Hollys Coffee is rarely well-known to local people. Thus, it is very important to make Peruvians aware of its brand and Hollys Coffee might be exposed to the financial risk linked with heavy marketing expenditure such as bra nd promotion and advertisement in the course of spreading its brand. There are two entry strategies of Hollys Coffee in Peru one is to introduce products that have Korean own characteristic, another is to differentiate with other coffee brands by focusing on side menus like waffle or patisserie. The Point is that it is hard to make certain whether these strategies are effective enough in Peruvian coffee market or not. Since it is tough to control operation when a company takes franchising, it appears to be difficult to introduce Korean traditional teas and foods properly. IV. Conclusion We have discussed about several entry modes regarding international business. We have looked into Starbucks choice, The Coffee beans strategy as well as Hollys Coffees one. Before completing our study, we would like to discuss two points of contention. Firstly, should Starbucks stick to FDI for India? As discussed above, it has struggled from red tapes. In the end, they still cannot enter Indian market whereas its competitors have expanded their business in India. Secondly, was it a good idea for Hollys Coffee to take franchising entry mode along with a strategy of providing Korean traditional beverages? Since it is not well known and not familiar with local environment, it is understandable not to take FDI entry mode. However, doesnt it seem to go well with two ill-assorted strategies? All entry modes have advantages and disadvantages. Hence, it is absolutely important to apply an entry mode appropriately according to each business format. However, it could be dangerous to enter every region with the single entry mode even though it is the same industry. Both the problem that Starbucks faced in India and the pitfall Hollys Coffee is likely to face can explain how risky it is. Therefore, even though a company wants to expand its identical business abroad, it is recommended to take different entry modes in accordance with each nations regulations, culture, politics, economic and social environment. V. Appendix The composition of retailers of Starbucks (2009.9) Entry mode Total U.S % in US Overseas % in overseas Company Owned 8,832 6,764 61% 2,068 38% Licensed Stores (Joint Venture) 7,803 4,364 39% 3,439 62% Total 16,635 11,128 100% 5,507 100% The Major Overseas Performance of Starbucks (Non- North America) Strategy Region Year Nation Local Partner # of stores Joint Venture Asia 1996 Japan Sazaby Inc. 875 1998 Taiwan President Chain Store 222 2000 S.Korea Shinsegae Department store 288 2000 China Cayman Holdings 283 2002 Mei-xin International 2005 Coffee Concepts 2004 Malaysia Berjaya Group 118 Europe 2002 Spain Sigla, S.A 76 2002 Greece Marinopoulos Bros. 69 2003 Switzerland Marinopoulos Bros. 47 2003 Austria Marinopoulos Bros. N/A 2003 Cyprus Marinopoulos Bros. N/A 2004 France Sigla, S.A 52 2007 Romania Marinopoulos Bros. N/A 2008 Czech AmRest N/A 2008 Portugal Grupo VIPS N/A Direct Operation Asia 2000 Thailand Coffee Partners 131 2002 Australia Local Entrepreneur 23 2004 Singapore Bonstar 64 2005 China Qingdao American Starbucks 191 2006 Mei Da Coffee Europe 1996 UK Seattle Coffee 666 2004 Germany KarlstadtQulle 144 Licensing Asia 1997 Philippines Rustan 160 1998 New Zealand Restaurant Brand 42 2002 Indonesia PT Mitra Adiperkasa 74 Middle East 1999 Kuwait M.H. Alshaya 62 1999 Lebanon M.H. Alshaya N/A 2000 U.A.E M.H. Alshaya 91 2000 Qatar M.H. Alshaya N/A 2000 Saudi Arabia M.H. Alshaya 68 2000 Bahrain M.H. Alshaya N/A 2002 Oman M.H. Alshaya N/A 2005 Jordan M.H. Alshaya N/A Europe 2003 Turkey M.H. Alshaya 123 2006 UK N/A 46 2007 Russia M.H. Alshaya N/A The Coffee Bean and Tea Leafs International Expansion (2008) Year 2002 2003 2004 2005 2006 2007 2008 Company-Owned 177 191 217 241 270 288 278 Franchise 46 68 87 137 230 347 444 Total 223 259 304 378 500 625 722 VI. Reference n Starbucks timeline-Asia, Starbucks Corporation, 2009. n Starbucks timeline-EMEA, Starbucks Corporation, 2009. n Starbucks timeline-China, Starbucks Corporation, 2009. n Annual Report of 2009 (Form 10-K), Starbucks Corporation, 2009 n Starbucks India Strategy Looks Promising, Seeking alpha, Oct 2, 2006. n Starbucks Delays Entry of India, Vccircle, Jul 21, 2007 n ì  ¸Ã« â€ž, ì™ ¸Ãª µ ­Ã¬  ¸ ì § Ã¬  â€˜Ã­Ë† ¬Ã¬Å¾  ê ·Å"ì  Å"완화, Yonhap news, Feb 12, 2009 n Starbucks brews a fresh strategy for India entry, The Economic Times, Jan 29, 2010 n KKR in $200m Indian Coffee shop deal, Financial Times, Mar 17, 2010 n Company Growth, The Coffee Bean and Tea Leaf (http://coffeebean.com/franchise/company.html) n What is a master franchising? (http://www.allbusiness.com/buying-exiting-businesses/franchising-franchises/2975165-1.html) [1] Cult-duct : A compound is formed from â€Å"culture† and â€Å"product†. It stands for selling a product with the companies culture and social values. Starbucks is a typical example of this. [i] Starbucks timeline-Asia, Starbucks Corporation, 2009 [ii] Annual Report of 2009 (Form 10-K) pp.4, Starbucks Corporation, 2009 [iii] Annual Report of 2009 (Form 10-K) pp.3, Starbucks Corporation, 2009 [iv] Starbucks timeline-Asia, Starbucks Corporation, 2009 [v] Starbucks India Strategy Looks Promising, Seeking alpha, Oct 2, 2006. [vi] Starbucks Delays Entry of India, Vccircle, Jul 21, 2007 [vii] ì  ¸Ã« â€ž, ì™ ¸Ãª µ ­Ã¬  ¸ ì § Ã¬  â€˜Ã­Ë† ¬Ã¬Å¾  ê ·Å"ì  Å"완화, Yonhap news, Feb 12, 2009 [viii] Starbucks brews a fresh strategy for India entry, The Economic Times, Jan 29, 2010 [ix] KKR in $200m Indian Coffee shop deal, Financial Times, Mar 17, 2010 [x] Company Growth, The Coffee Bean and Tea Leaf (http://coffeebean.com/franchise/company.html) [xi] What is a master franchising? (http://www.allbusiness.com/buying-exiting-businesses/franchising-franchises/2975165-1.html)

Essay --

Reading response Price gouging is increasing the price of a product during crisis or disaster. The price is increased due to temporal increase in demand while supply remains constrained. In many jurisdictions, price gauging is widely considered as immoral and is illegal. However, from a market point of view, price gouging is a correct outcome of an efficient market. As shown above, crisis increases demand for the product leading to a shortage. Supply does not change. Equilibrium price now shifts to the right and increases. The market is now ready and willing to pay for the product or service at a higher price. Upon seeing long of people waiting for the product, sellers either hike the price or bring in more supplies if it were possible. If more suppliers are brought, equilibrium price goes back to normal. If supply cannot be increased, sellers increase the price of the product or service. In an efficient market, price increase brought about by a crisis of otherwise is natural. Due to surge in demand, people cannot get the same product at the original price during shortage. Without an increase in the price, the shortage will become worse as sellers will not have the incentive to avail more products in the market. A Price increase gives sellers an incentive to provide more of a product in the product and price goes down to an economically efficient price. Because price gouging is banned in most jurisdictions, rationing the product is done through bribing and first-come-first-served basis. Price gouging is opposed because in a crisis, supply in the short run is perfectly inelastic as shown below. In a hurricane, the infrastructure may be destroyed making impossible to get new supplies. Increased the price during this pe... ...e. A price gouger needs to charge more in order to avail the product or service. In the case of Raleigh, the roads to the town were not accessible due to fallen trees and rocks. An entrepreneur would need to cut the trees and remove the rocks in order to take the product there. People who do that need compensation for all the trouble they take to bring products to the market. The youths who brought ice to Raleigh town had to cut down trees in order to access town. Instead of selling ice as the â€Å"right price† of less than 2 dollars, the youths charged more than 8 dollars. The price provided just there right compensation for all their efforts. Banning price gouging led to serious suffering of the people because the little food left went bad causing even more losses. For a few dollars for the price of ice, Raleigh residents could have saved millions worth of food.