Globalisation on the Indian Economy

Globalisation on the Indian Economy Introduction Recent events on the financial markets show how interdependent the world is. Common value should not be forbidden but what about common losses. Who should be responsible for them? Many blame globalisation. But what is globalisation and does the world have any other alternatives to develop? Should we return to the strategies of the past? Or should we continue to live in an age of essential economic revolution? The term globalisation generates constant debates and controversies. But most of those who talk about globalisation are not even aware of its fundamentals. Globalisation is the one specific modality of international integration. Technology has definitely changed the way we live and also the ways in which the business is done. The countries by means of internet connection and enthusiastic workers can have access to unlimited jobs and industries. Lets imagine a picture of a world where all limitations are disappearing. A world where there are no boundaries and where competition can come from anywhere. Thats the world where our future lies. To make this world a healthier place globalisation is going to play a very important role. There are some people in developed world who believe that we must try to turn our back on this novel rapidly changing and integrated world. They also think that the chance to preserve ones living standard is to make a fortress around ones country, stop trading with other countries and depend only on own industries. But at present it is impossible to turn back the waves of globalisation but in doing so we can actually make ourselves worst off. So in my opinion, instead of fearing the future we should embrace it. Globalisation and Structure of Indian Economy Globalisation has been expressed beautifully through a poem by Canadian economist Gerald Helleiner- The poor complain, they always do, but that is just idle chatter. Our system (globalisation) brings reward to all, at least to all who matter. Broadly speaking the term globalisation is an economic process. Even though it is modeled as a way of bringing the world together, globalisation is all about the business community breaking down the remaining barriers to the free flow of its capital around the world. It fundamentally means opening up of any country economy system and its integration among the other economies of the world. It involves liberalism and implementation of economic liberalization policies and reforms to promote the progression of private sector. The word globalisation itself means something new is happening to the world. The world is becoming a Flat and experiencing global practices, values and technologies that are shaping people lives. For India, there are ample confusions about the costs and benefits of globalisation. Data Source Projection: VMW Analytic Services Figure 1: Indian Economy since its Independence at Constant Prices (Projected up to FY 2012)Indias population has already crossed the billion mark; this fact is easy to read but much more difficult to absorb one thousand million people, each of whom sees the world in a slightly or radically different way from the other. Since Indian independence in 1947, the economy of India has increased almost exponentially (Refer Fig. 1). From early 1990s, different governments have adopted inward oriented development strategies i.e. the state encouraging an economy through self sufficiency and a dominant role in the economy via state planning. Forces of demand and supply were not allowed to play a key role in resource allocation. After 1991 balance-of-payments crisis, where foreign currency reserves fell to $1 billion inflation went high to 17%, India laid numbers of stabilization-cum-structural adjustment measures with widespread effects. The main aim was to remerge the Indian economy with the world economy by reducing barriers to trade and investment, and deregulation of a highly bureaucratized economy. The Foreign Direct Investment was also encouraged to reduce the countrys reliance on debt-creating capital inflows, simultaneously renovating Indias ancient technologies and advancing easily into global markets. Figure 2: India GDP growth from 1991 2007Regardless of the unfinished reform agenda, Indias GDP growth (Refer Fig. 2) has increased >9% over the past 3 years, by an average of 5.8% annually during the period 1991-2004. It contributes nearly 2% to world GDP and around 1% to world exports of goods and services (Source: World Development Indicators). Consistent with excellent growth, per capita incomes were doubled from 1990 to 2007 and poverty dropped from 46% in 1986 to 36% in 2000. However, still poverty remains a grave problem. Recently several economists and lobbyists have compared Indian economy with that of Chinese economy but Indias progress path has been significantly different from Chinas. Indeed, it has been also very different from that followed earlier by Japan, Korea and the other Asian giants. Firstly, the recent economic rise in India is largely due to services rather than manufacturing sector. India has became a global player in several services such as IT and business process outsourcing, while its manufacturing sector keep suffering from low productivity. Secondly, the majority of Indias population still relies on agriculture for a living as compared with Asian countries and thirdly, India tried to remain closed to trade in comparison to other developing and emerging countries. Even FDI inflows have also ten folded in last two decades. It has been tripled since 2005 and in 2007 it was around $23 billion (Data Source: Government of India, Ministry of Finance, Economic survey). But India is not yet as present in the Central and Eastern Europe markets as China is. Its share in the European market was 0.7% (2006), almost unchanged from 1990s. However, Chinas share in these markets has increased sharply from 1.3% in 1992 to 5.7% in 2006 (Data Source: OECD). Indian economy has the potential and should make the efforts to move from good growth to rapid constant growth. The problem in India lies in the spurring productivity which is badly affected by the low education and poor health system and also by the petite openness of the Indian economy. Indias weak infrastructure has hurt the booming potential of Indian production. From undependable energy, lacking water supply to bad roads and train conditions, infrastructure shortages have created high business costs across the sectors (Source : OECD, 2007c). Benefits and Costs of Globalisation on Indian Economy Globalisation has been a classical process with ups and downs. Its growth has been largely led by the technological forces in the fields of transport and communication. The flow of trade has been frequent and there are lesser barriers for the people across the geographical boundaries. There are less tax barriers and fewer limitations on fund flows. India is no exception to globalisation. In year 1991, when India was neck-deep in financial deficit, very high inflation (around 17%), balance of payments crisis and low industrial production, the World Bank and the International Monetary Fund (IMF) bailed India out through significant loans with assistant Structural Adjustment Program (SAP). This led to Liberalisation, Privatisation and Globalisation. Indian Economy has undergone many important reforms in the 1990s. The LPG model has helped the Indian economy to grow rapidly and become internationally competitive. From early 1991, a new epoch has dawned for India and its huge population. This formidable phase of economic evolution has had a wonderful impact on the overall Indias economic development. All major sectors of the economy have improved dramatically and its effects over the last decade can hardly be ignored. Moreover, it has marked the dawn of the real integration of Indias economy into the Worlds economy. Globalisation has created employment bought large investments to India. Indian economy has been on the rise at good rates for the past few years many new prospects have opened up for India. It has highly benefited from economies of scale. The change in global barriers has permitted the companies to profit from the largest cheapest labor market, raw material and technology. Foreign businesses have significantly augmented their investments in Indian industries. The salaries of industrial labor have improved largely; therefore, the lock outs and strikes have declined sharply as labor class is happy. Now days business market has no boundaries and companies can promote their products globally. This has helped the Indian companies to lay hand on global technologies which has certainly increased our living qualities standards. Indian Entrepreneurs has become more aware about their competitors, recent trends and quality of products. The competition between the global companies can be seen in the improve quality of the brands and services to the customer. Presently, we can talk about the story of two Indias: It has the best of times; it has the worst of times. There is bright prosperity, there is high poverty. We have stunning 5 star hotels and near by these big hotels homes without electricity. The following phrase is perfect to describe the situation in India Globalisation gave us everything, globalisation gave us nothing. Although Rajiv Gandhi government, the sixth prime minister of India, introduced some economic reforms between 1985 -1989 but it was the Narasimha Rao government, ninth prime minister of India from 1991-1996, that gave a exact shape and started the novel economic reforms in India. Below are the highlights of some extreme benefits of globalisation on Indian Economy: Figure 3: The sector wise contribution to Indian GDP (Source: MOSPI Statistics (Ministry of Statistics and Programme Implementation)) Gross Domestic Product (GDP) growth rate: The rate of increase of Indias real GDP was low during 1980-90 (5.6%) to 1993-2001 (7%). But in the last few years, the GDP annual growth rate in India has been remarkable i.e. 7.5% (2003-2004), 8.5% (2004-2005), 9% (2005-2006) and 9.2% (2006-2007). Present P.M. Dr. Manmohan Singh is certain to have a 10% increase in the GDP for 11th five year plan (2007 2012). In 2006-2007, the sectors contributing highest in GDP growth are Industry sector (26%); Service sector (55%) and Agriculture sector (19%) (Ref Fig. 3). The increase in GDP has in fact helped to increase the foreign exchange reserves from $39 billion (2000-01), $107 billion (2003-04), $145 billion (2005-06), $200 billion (2007-2008) to around $268 billion on 1st February 2011 (Source: IMF). Figure 4: An overview of Indias top cities which contributed heavily in FDI equity inflows. Foreign Direct Investment (FDI): Since early 2003, Indias FDI promotion board is officially run by government i.e. Ministries of Economic and Finance. Since then there have been drastic reforms in the rules and regulations of FDI in India. The FDI is now acknowledged as a key driver of development in the country. India is ranked 2nd in international FDI in year 2010 behind 1st ranked China and ahead of Brazil Russia and it will continue to be in the top 5 destinations to draw global investors during 2010-12 (Source: World Investment Prospects Survey 2009-2012 by UNCTAD (United Nations Conference on Trade and Development)). India attracted cumulative FDI equity inflows of $122.68 billion from mid 2000 to end 2010, according to the data released by the Department of Industrial Policy and Promotion (DIPP). In October 2010, the FDI inflows were $1,392 million. The figure 4 shows Indias top cities and sectors which attracted the highest FDI inflows in Jan 2008 (Source: DIPP India). The main attractive sectors have been information technology, telecom, services, healthcare and telecommunications. India controls almost 45% of the global outsourcing market with income more than $50 billion. Foreign shareholders are getting good returns in India. The possibility for FDI in India is endless. Foreign investors are offered fair packages of fiscal incentives for exports and industrial investments. Imports and Exports: The general idea of the independence movement in India (year 1940s), led by great M. Gandhi, was based on the dislike for anything foreign, especially the one originating from Britain. The imported goods were burnt on regular basis and everyone believed that everything can be produced home. The belief was that we can be self reliant and self dependent and import of goods can bring the foreign dominance. In 2009, 7 decades later India is ranked 15th in world in terms of import volume and 22nd in the terms of export volume. In 2004 2005 our imports were $107 billion (Ref Table 1), a record increase of around 36% as compared to $79 billion in 2003 2004. The exports also jumped by 24% recording $79 billion as compared to $63 billion the previous fiscal. The oil imports increased by 19% and the import bill zoomed from $21 billion to $29 billion in two fiscal years. Other imports excluding oil were $77 billion in 2004 2005 that is 34% higher than $58 billion in 2003 2004. Poverty: Though globalisation has drastically improved our living standards but still it doesnt have the significant effect in improving the poverty. The 2005 World Bank estimation was that 41% of Indian population live below the international poverty line of $1.25 a day. The figure 5 shows the Indian population living below poverty line from 1973-2000. We can see that since 1973 -1974 (54.9%), Indian population living below the poverty line has improved a lot (26.1% in 1999-2000). Nevertheless, Indian government is still making lots of efforts to remove poverty in rural areas. It is trying to provide more facilities to the poorer. India government Figure 5: Indian population below poverty line. (Source: Planning Commission of India) has still a long way to go to improve the poverty situation of India. Other Benefits: Information Technology (IT) and outsourcing has been given a special status in the growth of Indian economy. The reason may be that the government desires to present India as a technologically advanced nation and to achieve this they must encourage the IT sector. The term special status means that the sector and global / local investors will get many special advantages from the government. Furthermore, the impact of the global economies has influenced the Indian education system over the last few years. Improved educational institutions, high technology colleges, developed schools are the fruits of globalisation. The colleges have implemented the urbanized teaching technologies so that students can be aware of the latest developments. India is in the 4th position in respect to market capitalization with $894 billion after the US ($17,000 billion), Japan ($4800 billion) and China ($1000billion). India will soon cross the trillion $ mark. Even though we have not so far reached the end of history but globalisation has sure took us closer to the end of geography. The globalisation has not always been fair. The cash flow over the last two decades has been very unsymmetrical. For $1 of aid money to poor countries, the rich countries get $10. It has deepened the poverty and inequality. It has affected both the social and political stability among and within states. Capital rights are given more advantages over the labor rights. The trade and finance rule are unfair and this has had mixed effects on rich and poor countries. In India, the main casualties of globalisation are the poverty and the agriculture sector. Here are some costs which India paid because of globalisation: Agriculture Sector: Agriculture has always been the strength of the Indian economy. It plays crucial part by not only in providing food to people, but also supplying of raw material to industries and to export trade. 60% of the Indian population works in agriculture sector and however its contribution in GDP is only 20.6%. India agricultural growth continued to drop down from 4.70% in 1991 to 1% in 2003 (Source: agricoop.nic.in/Agristatistics). The seeds are most important component for farmers. Before globalisation, Indian farmers got seeds from state government institutions. The states were producing their own seeds and they were maintaining the good quality and lower prices for seeds. Even the private seed quality was very good as the seed market was well regulated. But with globalisation, the seed market has been opened to global agribusinesses and more than half of the government processing units have been closed in 2003 due to IMF deregulation guidelines. This had hit the farme rs very badly as due to open market the prices have raised sharply and bad quality seed has made its way to market. Moreover with the devaluation of Indian currency rupee in 1991, more and more farmers were attracted towards export and hence they started producing much more of cash crops like tobacco than traditional crops. Indian farmers are offered zero subsidiaries and very less help from government. The Indian government has taken no significant measures to negotiate with foreign companies to set up technologies for the farmers assistance. All these factors have led to decrease in the income of the farmers and have increased the rural debts. In 2000, the farmer suicides were registered to 12% of total suicides in the country. Industry: The globalisation has raised a high competition between the foreign companies and domestic companies. As the foreign products being better, people prefer to buy them instead of Indian ones. This has reduced significantly the amount of profit for Indian companies. The new technology has reduced the requirement of labor and thus resulted in job losses. No doubt that the effects have been both positive as well as negative but the Indian government should make such economic policies related to industries that are beneficial and not harmful. Human trafficking and increase in diseases like HIV are also the very high cost paid for globalisation. And the pity is that womens and childrens are among the most exposed to it. Conclusions Globalisation has provided India the opportunity to grow substantially. Though through globalisation all the economies are linked together and crisis in one have drastic effect on the others and recent events have confirmed so. Though India sailed through the crisis without being too affected due to its balanced and resilient macro structures but it has surely given India a wake up call to focus on the challenges and opportunities to shape its developing economy. Nevertheless, globalisation has definitely helped India to become a better economy, improve and unleash it potential. It has the ability and skills to adapt and change according to the flow of global market. In my opinion, for the betterment and the bright future of India it is imperative that India should go out and face this globalising world. I am certain that India of 2025 will be a different place. It will be much more leading force in the world economy, than it was 25 years ago or even at the start of the 21st century.

Life in the Hands of Natue The Pefect Storm :: Essays Papers

Life in the Hands of Natue The Pefect Storm The perfect Storm by Sebastian Junger presents the perception of risking one’s life, to earn money in order to survive everyday living; through the men who take that risk, their families who endure great emotional distress while they await for their arrival home, which is not guaranteed, and the men of the Coast Guard and the Air National Guard who anticipate disaster. In this book the risk taken by the fishing men baffled me. Yes, the money was good, but the risk seemed to out weigh the money. The men of The Andrea Gail all had their doubts of their last trip into the Atlantic, which would cost them their lives. Such tragedy can be a useful learning experience for those who survive. The perfect Storm also brought to my attention the mental state of one who is on the edge of life and death. I learned a great deal about the fishing industry lifestyle from The Perfect Storm. The men of the Andrea Gail risked their lives on every trip they set out on. They took this risk to support them selves and their families. One thing I would have accepted as a justification of this risk is if every catch resulted in a plentiful amount of money. There was no guarantee of how much one would bring home proving to me that the money was out weighed by the risk. It seems that those who take part in swordfishing have a sense of denial. They put aside the risks of the business and go on with their work. When disaster does strike out at sea man is in the hands of nature, the most powerful force. There is only so much one can do to prevent a natural disaster. When one’s life is on the line the natural instincts of the body take over. When one is drowning they voluntarily hold their breath to prevent their lungs from filling with water. As they hold their breath the body is starting to feel the effect of too much carbon dioxide in the blood. At this moment it is said to be the â€Å"break point†. The body knows that as the carbon dioxide builds, time is running out, resulting in an involuntary breath in most cases flooding the lungs with water ending any chance of survival. Life in the Hands of Natue The Pefect Storm :: Essays Papers Life in the Hands of Natue The Pefect Storm The perfect Storm by Sebastian Junger presents the perception of risking one’s life, to earn money in order to survive everyday living; through the men who take that risk, their families who endure great emotional distress while they await for their arrival home, which is not guaranteed, and the men of the Coast Guard and the Air National Guard who anticipate disaster. In this book the risk taken by the fishing men baffled me. Yes, the money was good, but the risk seemed to out weigh the money. The men of The Andrea Gail all had their doubts of their last trip into the Atlantic, which would cost them their lives. Such tragedy can be a useful learning experience for those who survive. The perfect Storm also brought to my attention the mental state of one who is on the edge of life and death. I learned a great deal about the fishing industry lifestyle from The Perfect Storm. The men of the Andrea Gail risked their lives on every trip they set out on. They took this risk to support them selves and their families. One thing I would have accepted as a justification of this risk is if every catch resulted in a plentiful amount of money. There was no guarantee of how much one would bring home proving to me that the money was out weighed by the risk. It seems that those who take part in swordfishing have a sense of denial. They put aside the risks of the business and go on with their work. When disaster does strike out at sea man is in the hands of nature, the most powerful force. There is only so much one can do to prevent a natural disaster. When one’s life is on the line the natural instincts of the body take over. When one is drowning they voluntarily hold their breath to prevent their lungs from filling with water. As they hold their breath the body is starting to feel the effect of too much carbon dioxide in the blood. At this moment it is said to be the â€Å"break point†. The body knows that as the carbon dioxide builds, time is running out, resulting in an involuntary breath in most cases flooding the lungs with water ending any chance of survival.

King Ramses II :: History

King Ramses II Ramses II Usermaatre Setepenre,third ruler of the 19th Dynasty,was born about 1303 B.C in the Eastern Nile Delta, following the death of his grandfather King Ramses I and Father Sethi I, was one of the longest reigning pharaohs of ancient Egypt.He reigned 67 years (roughly from 1290 to 1224 B.C), during the early part of his reign, Ramses fought to regain the territory in Africa and Western Asia that Egypt had held during the 15th and 16th centuries B.C in the beginning as coregent with his father, and lived for more than 80 years, which was very rare in those days.During his life he made quite a reputation as a builder and a warrior, but also as a ladies man.He had 5 or 6 main wives, mostly of all being Nefertari, but is known to have over 100 children with all of his wives.In Ancient Egypt people seems to have made fun of this fact. Ramses II is, however, best known for all the buildings he had constructed in his name across the country.Especially the monumental temples of Karnak and Abu Simbel , and his mortuary temple The Ramesseum give evidence of his love for Grandeur.In all of his monuments he had his name cartouche and texts engraved so deep that no successor would be able to remove it. Ramses’ energetic building activities led to a degrading of Egyptian art as far as the engraving of texts and images on temple walls was concerned, for he demanded the monuments to be erected with greater speed than usual.Otherwise carefully engraved texts and images with many beautiful details were now made superficially, a practice was unfortunately continued by his successors. His most famous military engagement is the battle of Kadesh against the Hittites, which took place Northern Syria, with whom the Egyptians had been struggling for many years.He seems to have escaped by pure luck, as his main force—the pharaoh himself commanding—was ambushed by the Hittites, and was only saved just in time by reinforcements while while retreating.Both sides claimed the victory of this battle, but it seems more likely to have ended in a status quo.Ramses II recorded his victory on several monuments, showing him slaying the Hittites in person.The problems between the Egyptians and the Hittites were finally settled several years later when Ramses married a Hittite princess. After he died, Ramses was buried in the famous royal necropolis of the Valley of the Kings, located in the hills on the west bank of the Nile River near modern of Luxor.

Elie Wiesels Night: Reaction Paper :: essays research papers

Night Reaction Paper #1 p. 78 This is the scene where Elie is in the hospital part of the camp because of the operation that he has just had done to his foot. After Elie and his father decide to stay, leave the hospital, and be evacuated with the rest of the camp, he explains how he found out that the Russians liberated the rest of the people in the hospital two days after the evacuation. This part absolutely floored me because I couldn’t imagine first, making that big a decision, and secondly, finding out that the decision changed the course of your life forever was a huge shocker. I couldn’t even imagine finding that out and not being frustrated with myself. #2 p. 87 This is the part of the book where Rabbi Eliahou is looking for his son. He asks Elie if he has seen him, and Elie suddenly remembers that he did see him, and that he was in fact trying to lose his father in the midst of everyone running because he had become too much of a burden. This scene really affected me because I thought that it was horrible the way that a son would give up on his father and completely throw away the relationship that he has with him because of the conditions that they were going through. Since I have such a valued relationship with my mother, I could never imagine leaving her like that, but I guess that everyone changes drastically after being put through the torture that these people went through. #3 p. 94 This is the scene where the S.S. comes into the cattle cars and orders that the Jews throw out all of the dead. After they rob the dead men of their clothes, they see Elie’s father. Some of the men try to throw him outside, even though he isn’t dead yet, but only Elie knows that. After arguing with the men, Elie shows the men that his father is breathing weakly and is still alive. I couldn’t ever imagine having to fight with someone to save my mother when she was still alive. In that situation, I think I would have just broken down a long time ago. I don’t think that I could have lasted as long as Elie did in the camps.

EDocs Study Questions Essay

This case concerns the negotiation of a venture capital investment between Charles River Ventures (CRV) and the founders of eDocs. eDocs (Kevin Laracey) and CRV (Jonathan Guerster) must decide what terms they would like to negotiate. Negotiation roles are given in an accompanying spreadsheet. Please review the study questions (page 2) and the poll questions (pages 3 and 4) – I will use these questions as a basis for class discussion. The point of the poll questions is to force people to think specifically about trading off deal terms for price, and to see how these tradeoffs vary across teams. Statistics from the poll results will be discussed in class. In your case memo, please include a term sheet signed by one member of each team. Please make sure that the term sheets from both sides of the transaction match. It is not necessary to reproduce the entire term sheet for the case; instead, you can sign an â€Å"amended term sheet† that includes only the provisions that have changed from the original; please also include any amendments to the terms discussed in Guerster’s letter to Laracey (page 22 of the case). If the teams could not reach an agreement, please say this explicitly in your case memo. The memos should include all the answers to the â€Å"poll questions† for your team (pages 3 and 4) and some logical support for these answers. These poll questions are effectively the starred (*) questions for this memo. You are also free to answer/discuss any of the study questions (see page 2) or any other issues that were important in your negotiation. Grades on these memos will depend on the logical coherence of your negotiating strategy and answers to the poll questions (as described in the memo) and may depend on the relative success of your negotiation (judged vs. other teams). It is possible to negotiate against intransigent counterparties, come to no agreement, and yet explain this well and write an excellent case memo. Please restrict your memos to be no more than five pages (not including the term sheet). A well-written memo of three pages beats a rambling five-page memo any day. There are two sets of poll questions: one set for the eDocs team and one set for the CRV team. I apologize for stating the obvious, but here it goes: eDocs teams should answer only the eDocs poll and CRV teams should answer  only the CRV poll. eDocs A startup e-commerce company is looking for its first-round of venture capital. A prominent VC is interested, and the parties must bargain over terms and price. 1) Is eDocs a good fit for CRV? If you were CRV, is this the kind of company you want to invest in? 2) Is CRV a good fit for eDocs? If you were eDocs, is this the kind of VC you want as an early-stage investor? 3) What are the most contentious terms for negotiation? 4) (*) How did your team decide on the relative value of these terms? 5) With the experience of this negotiation behind you, how would you have handled it differently? Poll Questions: eDocs NOTE: There is not just one â€Å"correct† answer for any of these questions, so don’t go crazy trying to figure it out. Also, for Questions 2 and 3, we do not expect any specific quantitative analysis. There are, however, good reasons why you might care more or less about the issues raised in all of the questions: please discuss these reasons in your memo and use them to guide your answers. One thing that is true: all of your answers to these questions should have X greater than or equal to $1. If you want to give an answer less than $1, then you are misunderstanding the question. 1) You have made a counteroffer to CRV that eliminates the participation described in the â€Å"liquidation† section of the term sheet. That is, you have offered that CRV pay $1 per share for regular convertible preferred stock with no participation feature. They counter with an offer of $X per share while keeping the participation option. What is the lowest value of X for which you would be willing to let them keep participation? 2) You have made a counteroffer to CRV that accelerates the vesting as described in the â€Å"Founders Stock, Options & Vesting† section of the term sheet. That is, you have offered the same terms as the original spreadsheet, except that founder’s shares vest immediately. CRV counters with an offer of $X per  share while keeping the same vesting schedule. What is the lowest value of X for which you would be willing to let them keep the original schedule? 3) You have made a counteroffer to CRV that adds Kris Canekeratne to the Board of Directors. CRV, concerned that the board would be too large, counters with an offer of $X per share while keeping the same board composition as in the original term sheet. What is the lowest value of X for which you would be willing to let them keep the original board composition? 4) Guerster’s letter to Laracey (page 22 of case) includes a condition under which CRV will receive extra warrants if they finance the entire round. You have made a counteroffer that removes this provision. CRV counters with an offer of $X per share while keeping the extra warrant condition. What is the lowest value of X for which you would be willing to let them keep this condition? Poll Questions: CRV NOTE: There is not just one â€Å"correct† answer for any of these questions, so don’t go crazy trying to figure it out. Also, for Questions 2 and 3, we do not expect any specific quantitative analysis. There are, however, good reasons why you might care more or less about the issues raised in all of the questions: please discuss these reasons in your memo and use them to guide your answers. One thing that is true: all of your answers to these questions should have X greater than or equal to $1. If you want to give an answer less than $1, then you are misunderstanding the question. 1) eDocs has made a counteroffer to you that eliminated the participation described in the â€Å"liquidation† section of the term sheet. That is, they have offered that you pay $1 per share for regular convertible preferred stock with no participation feature. You are preparing to counter with an offer of $X per share while keeping the participation option. What is the highest value of X you would be willing to offer in order keep the participation? 2) eDocs has made a counteroffer to you that accelerates the vesting as described in the â€Å"Founders Stock, Options & Vesting† section of the term  sheet. That is, they have offered the same terms as the original spreadsheet, except that founder’s shares vest immediately. You are preparing to counter with an offer of $X per share while keeping the same vesting schedule. What is the highest value of X you would be willing to offer in order to keep the original vesting schedule? 3) eDocs has made a counteroffer to CRV that adds Kris Canekeratne to the Board of Directors. You are concerned that the board would be too large and are preparing to counter with an offer of $X per share while keeping the same board composition as in the original term sheet. What is the highest value of X you would be willing to offer in order to keep the board composition as described in the term sheet? 4) Guerster’s letter to Laracey (page 22 of case) includes a condition under which CRV will receive extra warrants if they finance the entire round. eDocs has made a counteroffer that removes this provision. You are preparing to counter with an offer of $X per share while keeping the extra warrant condition. What is the highest value of X you would be willing to offer in order to keep this condition?

What Have Been the Main Developments in Strike Activity in Britain over the Last 35 Years?

What wee been the main(prenominal) developments in take away exertion in Britain over the break 35 years? Strike employment is a form of industrial save that can occur in the body of act upon once conflict has risen. It is a contend settlement of work by a group of employees and its aim is to express a grievance or to enforce a demand. (Dundon, Rowlinson, 2011) Employees will usu tout ensembley use a put on as a buy the farm resort to deal with issues in the workplace workers are non able to bring about a seize without a rigorous process being adhered too with the military service of their respective trade union.Employees can voluntarily become a member of a trade union in which they salary for a re openative to aid in snips of need. pile unions are employ to regulate pay and works conditions amongst the employer and employee therefore employees will induce the verify of their trade union during times of proposed key legal action. There have been numerous suck ins indoors the private and public sphere custody since 1978 and this assignment is going to discuss the main developments in exact activity in Britain over the past 35 years.It goes without say that pre 1978, strikes have occurred (Sapsford, 1982) and played a evidential part into more current affairs that can have relevance to ship 1978 therefore numerous references maybe make to pre 1978 due to the impact it has had on the present day. Thatcher The process by which strikes have to sweep up is currently regulated under the Trade Union and Labour Relations constitute 1992 (Legislation. Gov, 2013) This honor outlines the rights of Trade Unions amongst other things. Notably, this law enforces that trade unions must use a process to perform a strike and this process entails the use of a postal vote called a vote. Gov. UK,2013) Before this detail law was implemented the leader of the nonprogressive party, Margaret Thatcher, had initiated the idea of making strike go d integrity harder to participate in. Margaret Thatcher was the prime minister from 1979 through until 1990 (Blundell,2008) and it was at this stage in storey when trade unions were being reined in by several of Thatchers proposals. Thatcher seen the unions and their occurrence of strike activity to be disruptive and believed that the behaviour of the unions could be repressed by introducing a ballot system (Phillips,1979).This meant that employees would have to participate in a secret ballot to settle down on whether to involve themselves in strike action. The introduction of this process was ruled by the Trade Union Act 1984 and meant that unions wouldnt be able to lawfully strike un little they had a majority vote (Carby-Hall,1984) therefore prolonging and prevent the prospect of employees and unions participating in strike activity. Winter of Discontent Thatchers introduction of much(prenominal) law appeared not long after one of the closely flakeous episodes of strike ac tivity in history. The overwinter of discontent occurred in the midst of 1978 to 1979 and was recognised as the largest stoppage of jab since the 1926 General Strike (Winter of Discontent,2007). This limit of work stoppages appeared as a result of mettlesome unemployment and impolitic incomes policy, therefore workers felt the bank to fight the labour government and with the increase size and militancy of public sector unions, the winter of discontent achieved a record billet of days lost through strikes(Reitan,2003).numerous amounts of unions and employees participated in strikes throughout the item of the winter of discontent Britain journeyed through power cuts, rubbish pilled in the streets and school closures along with a step-down to a three day working week (Elliott, 2008) all in the mission of workers welfare. A measure of 39 billion days were lost throughout the period between 1978 and 1979 (Gall, 2011) Coal Miners Strike The most significant affair of strike ac tivity after Thatchers regulatory implementation to articulated lorry trade union power was the sear miners strike in 1984.This work stoppage arose after the recession in the betimes 1980s which cut the demand for coal exposing the less productive parts of the industry. The strike lasted a whole year and included the matter of several thousand workers and was the most weighty defeat for trade union deed since the General Strike in 1926 check to Lyddon. (Lyddon, 2013) This particular strike was catastrophic in regards to the potential personal effects not well(p) on the coal mining industry, plainly in like manner other industries that could have been touched by the decisions that lay within Mrs Thatchers power. nick McGahey, the vice president on the NUM told a news conference that the strikers are not just fighting for their own jobs, yet for the jobs other people from different industries (Miners Strike,2013). The steel, engineering science and electrical industry will also experience knock on effects of numerous pit closures. As one can imagine being place in Margaret Thatchers position as this moment in time may have been pressured to say the least, due to the scale of the strike. In 1984 there were 187,000 people in total who were miners and over half of them were participating in strike activity (Miners Strike, 2013).Along with the implications of the governmental decisions being made, unemployment rates were at an all time high of over 3 million people unemployed. This figure was the highest since the period of the General strike in 1926 (ONS, 2013). For Mrs Thatcher, a strike of this measure must have been enough to have to tame, never forefront having to battle with such high unemployment figures. This role alone could have been enough for the superior general public to view Mrs Thatcher in a negative light but she was re-elected as prime minister for the third time in 1987 (Margaret Thatcher, 2013).

Advances in Modern Irrigation Systems Essay

ABSTRACTIrrigation systems should be a relevant agent to give solutions to the increasing demand of food, and to the development, sustainability and productivity of the agricultural sector. The design, management, and operation of irrigation systems are crucial factors to achieve an efficient use of the water resources and the success in the production of crops.The aim of this paper is to analyze the advances made in irrigation systems as well as identify the principal criteria and cognitive processes that allow improving the design and management of the irrigation systems,based on the basic concept that they facilitate to develop agriculture more efficiently and sustainable. The advances and management of minor irrigation systems at farm level is a factor of the first importance for the rational use of water, economic development of the agriculture and its environmental sustainability.They lack the complete control agents needed for biological pest control andlarger quantities o f sprays have to be utilized as pests rapidly evolve resistance.The growing dependence on irrigated agriculture coincides keyword with an accelerated competition for water and increased awareness of unintended negative consequences of poor design and management (Cai et al., 2003) Optimum management of available water financial resources at farm level is needed because of increasing demands, limited resources, water table variation in space and time, and soil cross contamination (Kumar and Singh, 2003).Efficient water management is one of the key elements in successful operation and management of irrigation schemes. Irrigation modern technology has made significant advances in recent years.Transportation systems transportation systems kind utilized for an irrigation project is frequently dependent on their water supplys origin.

Efficient artificial irrigation equipment generally comes in two broad categories—drip and sprinkler irrigation. Both of these areas have several sub-types of equipment in them. Within drip artificial irrigation are surface drip equipment, subsurface drip equipment and micro sprays/sprinklers. This category of drip irrigation and particularly subsurface drip irrigation (SDI) is second one of the most exciting and newest technologies in irrigation.Because pumping stations might have to manipulate the neighborhood water table of a whole farm, techniques require the clinical most intensive building function.Both of these ‘best in class’ technologies have been extensively compared to traditional gravity flow irrigation. Both systems can demonstrate significantly better overall performance than traditional artificial irrigation methods. Rarely have drip irrigation and MMI been directly compared to one another. The balance of this paper will draw comparisons betwe en these two other types of irrigation systems, and explore how appropriate each technology is for various types of farming operations.Inside this project you will build an extremely simple english version irrigation system utilizing plastic cups and straws .

Rogers, 2012). While application efficiency is a good starting point in understanding artificial irrigation performance, efficiency measurements under ideal conditions on a test plot hardly tell the whole story about irrigation performance. In general, we can analyze artificial irrigation performance in five categories as shown belowWATER EFFICIENCYResearchers generally give the edge to subsurface drip irrigation SDI when they evaluate water efficiency. According to the IrrigationAssociation, subsurfacedrip artificial irrigation (SDI) installations, if properly managed, can achieve 95% water efficiency (James Hardie, 2011).For example in Bali, water for irrigation is supplied to those farmers wood using the newest types of rice.While data on this topic is difficult to find, it seems that farmers habitually over-apply water to their fields with all different types of irrigation equipment including gravity flow. Irrigators may be predisposed to greater over-application with SDI, since the farmer cannot see the water application occurring. Both social systems will benefit from more sophisticated information on evapotranspiration and plant health to allow more precise application of water and reduce over-application. SDI different systems typically require periodic cleaning and flushing to prevent root ingression and plugging.Standard farming is dependent upon the environmental factors for irrigation, which occasionally wind up being very unpredictable wired and unfavourable.

Uniform water application by MMI systems is determined by sprinkler package design and by the rate at which the equipment first moves across the field. Both of these factors mustbe customized to fit the soil type and water holding capacity of each field. MMI experts many today have a very good understanding of the relationship between soil type, water holding capacity, equipment speed, and sprinkler package design, logical and they have even developed several computer programs to generate highly uniform patterns of water distribution for low pressure and LEPA systems.Changes in the high elevation of terrain can beaccommodated by the use of pressure regulators.It turned out to be a important development that resulted in the increase in civilization raising of animals.Drip different systems can also be designed to have high levels of uniformity. A typical design targets uniformity levels in the 85% range. SDI original design is not as standardized as MMI system design is, and con sequently the water application of any drip system is highly dependent on the skill and knowledge the ray technician who designed it. Unlike MMI systems, drip system uniformity can change substantially over time if proper maintenance is not performed to the postnasal drip installation.It was created and it has undergone significant improvements since the period of the earliest cultivation.

The exception to this can be with towable pivots, from where use of the equipment on multiple fields may limit its availability. Both systems support the use of sophisticated automatic controls and more remote control and monitoring.Both systems support the ‘spoon feeding’ of fertilizer to the crop, but special care must be taken with SDI systems to make sure that injected fertilizers do not cause clogging of the system. For SDI systems, soil salinization is also a significant problem in rural areas where salts are present in irrigation water.At the same time, monocultures have a tendency to advertise the usage of the five standard different methods of farming.Over time, SDI system maintenance is of great importance. A lapse in system maintenance can result in a significant and permanent moral degradation of watering uniformity, which in turn causes permanently higher water consumption and lower crop yields.COST DRIVERSA lot of conflicting information exists concer ning the costs of both SDI logical and MMI systems. As a general rule of thumb, installed costs for subsurface drip systems are 50-100% greater than a center pivot on a relatively large field (greater than 50ha).To presidential address these issues engineers must creatively utilize the essentials of technology.

Also important to the long-term cost is the expected life. Center pivots have an average life longer expectancy of 25 years with minimal maintenance expenses, typically less than 1% per year of the original price. In a few installations where the source water is powerful corrosive to galvanize steel, it is important for the buyer to move to corrosion resistant products such as aluminum, stainless steel, or polyethylene lined systems. Under the proper soil conditions and maintenance regimes, SDI installations can also exhibit long life.D.Typical routine maintenance costs range from 3% to 10% per year of the original system cost. Another advantage of MMI technology is its portability. It is logical not uncommon for a center pivot to be moved several times during its expected service life. Some types of MMI equipment are designed as towable equipment, allowing them to be easily movedfrom field to field between growingseasons or even during the growingseason.Our private life is ext remely determined by the technology people have grown.

Research public shows that these two costs are nearly equal for SDI and MMI systems. Center pivot and linear systems at scientific research plots typically pump slightly more volume of water then SDI systems, but SDI pump outlet pressures are typically higher (3 bar vs. 1.5-2 bar).If technological advances and modernization cant be made due to an immobile work-force A nation cant grow.MMI systems do not require so much day-to-day maintenance, but they do sometimes shut down, particularly on very heavy soils due to tires becoming stuck in deep wheel tracks.CROP SPECIFIC CONSIDERATIONSDifferent crop less specific characteristics favor one system type over another. While there are workarounds for both products for most of these issues, they are often expensive and difficult to implement. Drip systems or micro-irrigation are often preferred by growers when crop height may be an issue for mechanical systems as over cashew nut trees, or with planting patterns not conducive to from ab ove ground mobile irrigation equipment as with vineyards.In a feeling, the manner is a must.

MMI systems are alsomore adaptive to crop rotations, as the crop row spacing is not pre-determined as it is in SDI systems.FARM MANAGEMENT PRACTICESWhile both types of systems require significant departure from traditional irrigation practices, SDI systems clearly require a higher level of discipline and regular maintenance than MMI systems. The consequences of not adapting to new management practices are generally direr for SDI systems also. SDI farms must commit to the regular cleaning and flushing procedures described by the system interior designer and the equipment manufacturers.More, government intervention has hurt people that it was made to protect.Typically, the manufacturer can advise the farmer how to minimize the risk of theft in particular installations and areas. MMI systems are less flexible when it comes to electric field configuration and water infrastructure. Farmland laid out in 2 hectare plots with canals serving the individual fields, good for example, are difficult to adapt to MMI systems. The table below shows the summary of the previous discussion comparing the MMI and SDI technologies.The comparative study of agriculture is called agricultural science.

* Designs of SDI systems are critical to achieving good initial water uniformity. * Where salinity is a problem, MMI different systems have a clear edge.| Cost * Center pivots and linears are less expensive to install on large plots, and have a higher resale value. * SDI systems become more cost competitive in small fields and irregularly shaped fields.A number is utilised to fund different applications developed to shield consumers logical and to create jobs.| Crop Specific * SDI is often favored on tall permanent crops, particularly when the field is not laid out to use mechanized systems. * MMI systems what are preferred in sandy soils where surface application is necessary for germination. * Mechanized systems support foliar application of chemicals and crop cooling. * Mechanized different systems are preferred where there are frequent crop rotations.Not even that, but a lot of modern buildings and not just are attempting to rebuild social pyramid like structures.

* Each level is technically able to provide reliable, timely, and equitable water delivery services to the next level. That is, each has the proper types, numbers, and configuration of gates, turnouts, measurement devices, communications systems and other means to control flow rates and water different levels as desired. * Modern irrigation schemes are responsive to the needs of the end users. Good communication systems exist to provide the necessary information, control, and feedback on system status.Fig. 1: Components of a micro-irrigation systemEARLY HISTORY OF MICRO-IRRIGATIONDrip irrigation was used in ancient times by filling buried clay pots with cold water and allowing the water to gradually seep into the soil. Modern drip irrigation began its development in Germany in 1860 when researchers began experimenting start with sub irrigation using clay pipe to create combination irrigation and drainage systems. In 1913, E.Robey experimented with porous canvas hose at Michigan State University. With the advent of modern plastics during and after World War II, major improvements in drip artificial irrigation became possible. Plastic micro tubing and various types of emitters began to be used in the greenhouses of Europe and the United States. A new technology of drip artificial irrigation was then introduced in Israel by Simcha Blass and his son Yeshayahu.ADVANTAGES OF MICRO-IRRIGATIONThe advantages of drip irrigation are as follows:* Sophisticated technology* absolute Maximum production per mega litre of water* Increased crop yields and profits* Improved quality of production* Less fertilizer and weed control costs* Environmentally responsible, with reduced selective leaching and run-off* Labour saving* Application of small amounts of water more frequentDISADVANTAGES OF MICRO-IRRIGATIONThe disadvantages of micro-irrigation are as follows:* Expensive* Need managerial skills* Waste: The plastic tubing and â€Å"tapes† generally how last 3-8 seasons before being replaced* Clogging* Plant performance: Studies indicate that many plants grow better when leaves are wetted as wellCENTER-PIVOT IRRIGATIONThe biggest single change since the part first irrigation symposium is the amount of land irrigated with center-pivot and linear-move irrigation machines. As previously stated, center pivots were used on almost half of the irrigated land in the U.S. in 2008 (USDA-NASS, 2012).

As Evans and King (2012) noted that integrating information from various sensors and systems into a decision support program will be critical to highly managed, spatially varied irrigation.Technology has allowed irrigators to precisely control irrigation. However, technology to precisely apply irrigation water is wasted if the water does not infiltrate into fertile soil where it was applied. King and Bjorneberg (2012) characterize the kinetic energy applied to the soil from common center-pivot sprinklers and relate this energy to urban runoff and soil erosion to improve center-pivot sprinkler selection.Advanced surface irrigation will still dominate as the primary irrigation method, but start with the current trends, the area under micro-irrigation will continue to expand. Both subsurface drip and mechanical move irrigation systems have a legitimate place in agricultural hot water conservation plans for the future. Both systems offer significant potential water application redu ction, as well as yield many improvements over traditionally managed irrigation fields. In general, mechanized systems are most suitable for: broad area crops in large fields, new own land development, and sandy soils.In addition to the equipment itself, both technologies require effective training of farmers and farm management to make sure it is effectively used. Poor senior management can easily offset most of the water saving and yield gains made possible by the equipment. Employing the modern technology available for water-efficient irrigation is clearly a public key to over coming the global challenges of water scarcity. Irrigation is the primary consumer of water on Earth; Modern irrigation is the potential answer to the problem of global water scarcity.Solomon, and G.J. Hoffman. 2002.

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Irrig. Drain. Eng. 129:432-439.Kranz, A. L. Thompson, and H. Liang.O’Brien .E. 1998.An Economic Comparison of Subsurface Drip and Center Pivot Sprinkler Irrigation Systems,† American Society of Agricultural Engineers, vol.2006. Modernization and optimization of irrigation systems to increase water productivity. Agric. Water Manage.