Climate Change and Its Impact Essay Example | Topics and Well Written Essays - 2500 words

Climate Change and Its Impact - Essay Example This project will show the fingerprint and harbinger of climate change manifesting through erratic weather patterns or ecological conditions and the possible solutions that can be offered to mitigate its impact. The particular discussion is given to Dubai, United Arab Emirates. The effects of climate change are increasingly felt in many parts around the world. Human life and activities are affected by weather and climate, and changes in climate affect man and animals, food production, water sources and health (Department of Ecology, n.d.). Short-term changes in climate can be classified as normal weather conditions, but utilizing observation on a long-term basis, a trend in changing climate has been identified (Department of Ecology, n.d.). The drastic and unusual effect of climate change that have affected not a few countries are the following: coldest winter in UK in 2008-2009 (since 1996-1997), strong North Atlantic storm in British Isles in 2009 (disrupted power and damaged build ings), Midwest heavy rains and worst floods in June 2008 (since 1993), hurricane Omar in July 2008 with winds of 205 km/hour and ravaged a wide area for 17 days, tropical storm Fay that hit Florida four times with its 100 km/hour winds, the worst drought that hit Spain and Portugal in 2008, the worst South California wildfire that damaged an area of 8,100 hectares in April 2009, the worst Mexico drought in August 2009 that affected 3.5 million farmers, the northern Africa flooding that affected Algeria and Morocco in September to November 2008, and several others (UNEP, 2009). Due to the obvious effects of climate change that include erratic and strong weather conditions, fluctuating temperatures, or changing seasons, states and nations, international organizations, concerned groups and individuals call on everyone.

The Company Culture Of Enron Management Essay

The Company Culture Of Enron Management Essay Just as the destiny of individuals is determined by personal character, the destiny of an organization is determined by the character of its leadership. And when individuals are derailed because of a lack of character, the organization will also be harmed (Josephson, 1999). The merger of two Houston-based pipeline companies in 1985 led to the creation of Enron. It started as an energy delivery company, but the deregulation a few years later helped it change its focus and become an energy matchmaker or energy broker. The company started matching the buyers and sellers of energy and utilised creative trading methods to generate profits. So in a short span of time, Enron corporations fortunes changed from just a surviving company and it become a thriving company- a symbol of successful American corporation. 1.2 The Company Culture The deregulation in 1988 led to a dramatic change in the corporation. Enron had become the symbol of dynamism and aggression. The culture at Enron was to encourage creativity amongst the employees. It embraced a culture that rewarded cleverness. The employees were motivated to explore innovative approach to their work. The limits were pushed for performance on the individual employee level to sustain the astonishing growth levels that the corporation was experiencing. It was slowly moving towards a culture that admired unchecked ambition. In the pursuit, Enron led a culture which believed in stretching the performance until the limits of ethical conduct were overlooked. We will also see ahead how the leadership at Enron affected a change in the culture of the corporation. If corporate leaders encourage rule-breaking and foster an intimidating, aggressive environment, it is not surprising that the ethical boundaries at Enron eroded away to nothing. Schein (1985) has focused on leaders hip as the critical component of the organizations culture because leaders can create, reinforce, or change the organizations culture. This applies not the least to an organizations ethical climate (Sims, 2000; Trevinoet al., 2000; Sims and Brinkmann, 2002).According to Schein (1985) there are five primary mechanisms that a leader can use to influence an organizations culture: attention, reaction to crises, role modelling, allocation of rewards, and criteria for selection and dismissal. Scheins assumption is that these five criteria reinforce and encourage behavioural and cultural norms within an organization. So to summarise the culture at the company as depicted in the movie which was influenced by the following factors. Leadership Behaviour (reference?) Espoused values and visions Communicating the vision for the organisation through stated strategic long-term objectives in the vision statement/annual general meeting statement. Role modelling and attention There were multiple instances of Management-Employee seminars. There were also Enron Gas services solution days, where the management would use motivational speech to inspire employees. Reaction to crisis Initially in the nascent stages of the accounting misdemeanours the management devised way to avert crisis with efficient use of Public relation to make the event look insignificant. Programs , structures Criteria for rewards and personnel decision Enrons remuneration system rewarded individuals who adopted Enrons aggressive, individualistic culture and were based on short-term profits and financial measures. Symbols , rituals and stories The enron management way of celebrating success- organising weekend adventure trips. Jeff Skilling mantra- Do it right, do it now , and do it better 1.3 The External Environment Enron had become an energy trading giant in the US market and it was expanding in more sectors and international markets. The surprise with the companys growth was not its ingenuity of doing business but the speed at which it was expanding. But with a careful balance of public relation and good CSR skill, Enron had succeeded in developing a niche amongst the American corporate houses, the American media and the masses. It was a symbol of corporate excellence teamed with an ambitious zeal to succeed at all cost. Enrons spectacular success was receiving positive reviews from the press and the financial analyst community which was incremental in adding fuel to the companys competitive culture. So the movie very succinctly describes the leadership at Enron which encouraged a culture that was morally flexible leading to ethical degeneration in the name of ambition. Leadership at Enron The pillars of Enron were the top management team which always believed in exuberant performance. They were driven in their pursuit of delivering on the bottom-line numbers at all cost. This attitude was percolated to the complete organisational structure at Enron by dividing the company in either the high performing employees or the so- called low-performers. The employees who were a part of the upper-crust were handsomely remunerated. This led to a negatively infected passion amongst the employees to break the performance bench-mark in the organisation to happily afloat. The reflection of the leadership style in the movie is Indirect leadership It is evident from the movie that there was a heavy influence of the top management on the culture of the organisation which cascaded down to all the employees of the company, but indirectly. A form of indirect leadership involves leader influence over the organization culture, which is defined as the shared beliefs and values of members (Scheinn, 1992- trice Beyer, 1991). Leaders may attempt either to strengthen existing cultural beliefs and values or to change them. There are many ways to influence culture, and they may involve direct influences (communication, a compelling vision or leading by example) or other forms of indirect influence, such as changing the organization structure or reward system. Transactional leadership It refers to the leadership style wherein the leader exchanges rewards of economic or financial value with the follower. These rewards are based on the premise that the leader recognises the parameters and the levels of performance which justify reasonably the task and also clarifies the conditions under which the rewards are available for justification. The goal is to enter a mutually beneficial exchange, but not necessarily to develop a enduring relationship. Although a leadership act transpires, it is not one that binds the leader and follower together in a mutual and continuing pursuit of a higher purpose. But in the movie it is also seen that leaders were in a constant pursuit to convince their followers about their genuine interest of promoting the welfare of the stakeholders, which was not the case in reality. Yet they were successful in blinding the stakeholders (employees) with their leadership position and skills. So here we see an overlap of transactional as well as transformational leadership traits as the leaders at Enron were successful in their motive. Effective transformational leaders may exhibit transactional behaviors, but their leadership style also includes one or more of the following characteristics: idealized vision, inspirational motivation, intellectual stimulation, and individualized consideration (Bass, 1985; Bass Avolio, 1994). These characteristics are assumed to transform followers and motivate them to do more than initially expected. This transformation presumably occurs through raising the followers awareness of the signi ¬Ã‚ cance of designated outcomes, getting followers to transcend their self-interests for the good of the organization, or augmenting followers needs on Maslows (1954) hierarchy of needs (Bass, 1985). Although leaders and followers purposes may begin as separate but related, they eventually become fused into a linkage of power bases that provide support for both members of the relationship. Leadership is about making choices (Kouzes and Posner, 2003). Choice is a binary action that divides options into two sets, the desired and the undesired ones, according to a higher principle or value (Rawls, 1999). Mostovicz (2008) posits that the way people choose is a reflection of their worldview. This discovery can be approached in 2 ways (1) By the need for achievement (the Lambda worldview); or (2) By the need for affiliation (the Theta worldview). Both the world views have a unique set of characteristics. The Lambda are self- motivated and highly driven to attain individaulistic goals whereas the Theta are more society welfare oriented. The Lamba have a narrow prespective towards the society as such whereas the Theta have a much broader view. The unique characteristics of both the worldviews along with leadership approach is as mentioned below. Theta Lambda Motivation/reason Socially oriented Personally oriented Goal Seeking unity and certainty Seeking challenge and creation Behaviour Communion Agency Benefit Building respect Looking for personal freedom Leadership principle Authenticity = truthfulness Authenticity =genuineness Inclination Toward choice Toward contrast Perception of truth As an objective As a set of rules Transformation of a leader A leader is born. Qualities are subconscious A leader is developed consciously So the reflection in the movie about the leadership at Enron is more on the Lambda worldview. The attitude induced by the top management through the company made the organisation develop a Lambda view which led to the massive breakdown of the ethical machinery. The Leader Jeff Skilling- the man with the ideas. He was the kind of a person who had big vision of things. One of his favourite books was the Selfish Gene, which was a description about the human nature being steered only by greed and competition in the service of passing on the genes. He wanted to alter the way in which Energy was being traded. He succeeded in initiating a market for natural gas wherein it started being traded as stocks. He converted energy into a financial instrument and this led to Enron becoming the largest energy trader in North America. Kenneth Lay was a visionary and he liked people who shared this attribute. Jeff Skilling fit in the picture perfectly. He was aggressive, intelligent and possessed exemplary leadership qualities which was incremental in creating a culture of aggression and incentivised competition in the organisation. Under his leadership the organisation transformed from a small energy market player to the biggest energy trading company in North America with a rapidly expanding global operations network. The company was being driven by the aggressive and individualistic attitude which was strongly ingrained in the system by Jeff Skilling and the policies of the management team for attaining short term profit. These were successful in achieving the results in hindsight but were seriously damaging the ethical balance in the system. According to the Big Five model (Hogan, Curphy Hogan, 1994, Page 61), Jeff Skilling exhibited the Surgency personality type which had specific traits of Extroversion, High Energy/activity level and a Need for power. Charisma was the most important aspect of his personality. He believed in gaining power and self glorification, caring very little for his followers, the ideals or values. This is usually seen in the case of negative charismatics. He used his charisma, to influence people in a way which made them awe-stricken, wanted his acceptance and hence they could not criticise him or his actions. This not just has an influence on the followers, but has an effect on the leader as well. The leader in such cases become not only over-confident but also delusional of their infallibility. To describe further we utilise the following table to understand the charismatic leadership and its effect on the organisation. The leader has total and absolute authority. Leaders build their eminence and maintain their grip on their followers throught a well-articulated ,emotive communication of their vision. The leader cultivates a compelling and captivating self image Immense faith invested in the leader Heavy emphasis on the charismatic attributes of leadership. The CEO had immense and unchallenged authority. Events such as the annual management conference, where leaders promoted themselves in a thearitical manner. Intense faith exhibited by emploess in Lay and Skilling and a declining confidence in the quality of their perceptions Charismatic Leadership A totalistic vision, leading to a higher sense of purpose and achievement. Employees assured they were transforming how business was conducted in the world. An intense transcendent ideology. A high degree of personal commitment by followers, to the goals of their leaders. The replacement of the followers existing belief system with a sense of being involved in a meaningful or revolutionary change. A compelling vision and intellectual stimulation Intense recruitement rituals, designed to engage employees in a process of affliation. The transformation of attitudes, behaviour. Constant messages that those hired were part of a special elite and were the brightest and the best in the world Indoctrination rituals that alternate between stressful and exhilarating. A process of conversion enacted Continuous indoctrination ,to reinforce initials sense of affiliation Individual consideration Perceived dissenters marginalised Financial data falsified Cultivation of obscure jargon, familiar only to people within the organisation Punitive internal regime. Promotion of a Common Culture Punitive internal environment: dissent demonised Unidirectional communication Negative information suppressed and positive information maximised. Total conformity from followers Power and Influence- Amongst the different types of powers Skilling had both at his disposal. He made use of his position power due to his position in Enron and also the personal power. In terms of position power it appears that applied the reward power which meant that his followers complied in order to obtain rewards and also legitimate powers where in the followers complied as they believed that he had the right to make the request due to his position. Also, we could see the use of his personal powers to a great extent where in his vast knowledge about the subject enabled his followers to comply. The followers also admired him and aspired to be like him due to his charismatic personality which also gave him the referent power which helped him gain loyalty and commitment. In order to influence his followers in supporting him he did use rational persuasion to show them the logical side of his argument based on factual evidence. The followers at some time did realise that Skilling was being unethical in his practices and in spite of this realisation still continued to support him. To explain the influence Skilling had on his followers we can make use of the 3 well known experiments-Milgrams experiment, Solomon Aschs conformity and Zimbardo prison experiment. Milgrams experiment tells us how people conform to an authority figure. The agentic state theory explains this further by stating that the person comes to view himself as an instrument in carrying out another persons wishes and therefore no longer sees himself responsible for his actions. Similarly the other 2 experiments highlight the human behaviour in terms of role conformity and social conformity where in people have a tendency to come under the pressure of social acceptability and conforming to everything they feel they need to in order to be a part of the group. Leader-Member Exchange Enron was a company of believers. In a survey in 1997, employees who were surveyed for a feedback faced tremendous faith in the leadership of Kenneth Lay and Jeff Skilling. It has been discussed in this analysis that the company had an indirect leadership style, whereby influence of the top management percolated to all the employees in the company through the use of multiple communication strategies (Enron Gas services day) when the top management discussed the future strategy of the company, the importance of employee contribution, commending excellent employee performance etc. So the employees became blind believers in the methodology adopted by the leadership at the organisation and started working with the win at all cost attitude which led to the slow erosion of the ethical fabric. Also the reward system that was created in the organisation, reflected the expectation of the management. The companies reward system only appraised employees who performed consistently with little re gard to ethical conduct. Overall, Enrons reward system rewarded individuals who embraced Enrons aggressive, individualistic culture and were based on short-term profits and financial measures. Leadership development at Enron Leadership calls for total commitment to the perpetual process of purpose seeking. While leaders are usually concerned with their legacies, their commitment to purpose has to go far deeper. This total commitment implies that, in reality, leaders seek either my way or nothing. However, this commitment is intrinsic; it calls for the leader to mobilise himself, body and soul, but in no way does it imply extrinsically that what is not my way is wrong. Ideal leaders do not exist in practice. Thus, we can relate to leadership as a progressive development only. Since humans cannot be fully conscious of our emotions, a posteriori, we cannot fully mobilise them in order to understand and attain our life goals and purpose. Because our purpose remains opaque at best, it follows that leaders will act unethically even when they do so unwillingly or unconsciously. The only way for leaders to improve their ethical position is to interact with others in society to help them reveal their hidden agenda over time. The particular worldview, in turn, shapes these agendas, either Theta or Lambda, that a person embodies in his search for greater self-awareness and contextualisation with his external environment. Appendix

Leaving Home- Original Writing Essay -- Papers

Leaving Home- Original Writing She climbed on the hard mattress and pulled the fluffy, violet diary from under the feathered pillow. She opened the hard-back book and ferociously flicked through the pages, trying to find a blank one, she opened her bedside draw and rummaged through the useless items, she picked up a pen and began to write. â€Å" How could they do this to me? Why now? Why couldn’t they have told me earlier so I had time to acknowledge it, I mean I am sixteen I will be going away to college soon, why didn’t they tell me when I was like ten so I had time to think about it? Do they still love me after what I did? Do I still love them after what they told me?† Marie scribbled her thoughts onto the lilac page. As she recorded the night’s events she realised something and stopped writing. â€Å"I have to leave?† She told herself as she slammed the diary and launched the pen across her room. Marie then started to pace impatiently around her darkened room and started to talk rapidly to herself. â€Å" I can’t be in the same house as them, but I don’t want to leave Jane, she is my sister I can’t just leave her, but she is just too young too come with me, she isn’t really my sister, not by blood anyway.† She debated with herself. Tears ran down her soft cheeks as she tried to find a solution. â€Å"Jane belongs here, I don’t,† she quietly said to herself. She crept over to her bed and lay down, â€Å"they’re not my parents. I need to fid my real parents, my real family, even if they don’t want to be found and even if it means leaving everyone I care for behind. I have to leave.† She told herself. The tears where like a river now, streaming down ... ...l.† The cab driver said. Marie turned around to face the cab. â€Å"Yea just a second.† Marie replied. She locked the door and put the key in the letterbox at the end of the garden. She opened the door of the cab and climbed in. â€Å"Prescott street, Arizona please.† She told the driver. Tears ran down her face as she looked out of the window and saw her hometown for the last time. As she drove off she remembered all the good time she had whilst growing up there. She thought about the first time she met her wonderful friends, the first day in high school and all those memories seemed like nothing when she remembered what her so called mother told her on her Grandmothers funeral. She considered telling the driver to turn round, that she had made a mistake but she knew what she had to do, it wasn’t like she would never go back.

Anthem †Ayn Rand Essay

In the book Anthem, Equality 7-2521 (Equality) lived in a society where everyone was equal and treated with disrespect. The society had no tolerance for being different and having their own opinion and ideas. People couldn’t even pursue the career they dreamed of having. They were punished for disobeying any of these â€Å"rules†. Despite Equality’s strict society, his motivations in conducting his experiments are finding individuality, starting a new revolution, finding freedom, and trying to become a scholar. Equality’s inspiration, will, and determination lead him to spark a new revolution. After Equality found the black hole, he kept habitually going back to it, to discover new things and gain intelligence. He was finding more about himself and discovering that everyone was not the same and not everyone has the same talents in life. Even though it was against the government’s expectations about everyone being equal, Equality was happy to break the law, so he could learn more. Equality says, â€Å"And yet there is no shame in us and no regret. We say to ourselves that we are a wretch and a traitor. But we feel no burden upon our spirit and no burden upon our spirit and no fear in our heart.† (Rand 37) Equality was curious. He wanted to find out about the unknown. By showing his invention, he would spark a new revolution of light. He would inspire people to create and learn. True joy comes from what a man can do with inspiration, desire, will, to better people, and while doing that Equality learns that it will allow him to achieve more in society. Equality wanted to accomplish something by himself and prove that not everyone meets the expectations of their job. In other words that’s saying that just because you come from a poor family, doesn’t mean you’re going to be poor when you become an adult. Anyone can achieve what they set their mind to, and Equality made up his mind, he wanted to be different and he wasn’t going to give up. When Equality discovered his invention he wanted to prove the scholars wrong and to prove to them that not everything had been discovered. Equality says, â€Å"The Council of Scholars has said that we all know the things which exist and therefore the things which are not known by all do not exist. But we think that the Council of Scholars is blind. The secrets of this earth are not for all men to see, but only for those who will seek them. We know, for we have found a secret unknown to all our  brothers.† (Rand, 52) He just wanted to prove that he was smart enough to be a scholar. His invention proved that anyone can do great things and his brother’s look up to him. Equality only knows what he is capable of not â€Å"we†. Throughout the process of his invention, going to the Palace of Corrective Detention, going before the Council of Scholars, and running away, Equality has found his individuality. After he ran away, and found his new house, he came across the word â€Å"I† in the manuscripts, and he has started a new way of living. Equality says, â€Å"Then I called the Golden One, and I told her what I had read and what I learned. She looked at me and the first words she spoke were: â€Å"I love you.†Ã¢â‚¬ (Rand, 98) Equality is determined, strong, motivated, and won’t let anyone bring him down. â€Å"Then, tonight, we knew that we must escape. For tomorrow the World Council of Scholars is to meet in our city.† (Rand, 66), say’s Equality. Equality has realized how different he is than others. He is smarter than the Council and the Scholars. He knows now he can teach others about electricity. He can help people find individuality and help them find out how they’re unique. Joy comes from his heart because he has never done anything on his own and now he can achieve more expectations that just any street sweeper. Throughout the book, Equality goes against the government because he is searching for freedom. In the book, Equality talks about wanting to see himself but that is against the law, when he runs away, he finally seems himself. Equality wants to see his own image because, his entire life he has never seen it, and he has only seen the faces of his brothers. Equality sees his own face for the first time and says, â€Å"We sat still and we held our breath. For our face and our body were beautiful. Our face was not like the faces of our brothers, for we felt no pity when looking upon it. Our body was not like the bodies of our brothers, for our limbs were straight and thin and hard and strong. And we thought that we could trust this being who looked upon us from the stream, and that we had nothing to fear with this being.† (Rand, 80) Now that he is thinking for himself he wants to know more about himself. He never received the chance to find out what kind of person he was when he was young, so now that he is older he wants to know more about himself. He falls in love with Liberty the first time he sees her, and in their society they’re not supposed to take notice of the opposite gender.  Equality whispers, â€Å"For men are forbidden to take notice of women, and women are forbidden to take notice of men. But we think of one among women, they whose name is Liberty, and we think of no others.† (Rand, 38) When Equality and Liberty both run away they can finally be together, and start their family. Equality wanted Liberty, so he found a way, and got her. When Equality finally finds freedom, on the first day in the forest, he says, â€Å"We awake when a ray of sunlight fell across our face. We wanted to leap to our feet, as we have had to leap every morning of our life, but we remembered suddenly that no bell had rung and that there was no bell to ring anywhere. We lay on our back, we threw our arms out, and we looked up at the sky. The leaves had edges of silver that trembled and rippled like a river of green and fire flowing high above us.† (Rand, 78) Equality was free. In conclusion, Equality’s self-determination and perseverance allowed him to conduct his experiments without anyone telling him otherwise. Even though he had tough obstacles to climb over to have his invention, he didn’t let anything stop him. The Council of Scholars was his biggest challenge with his experiment and he overcame them. The biggest part of Equality conducting experiments was finding individuality within himself. He knew that people should not be treated the exact same and everyone had a mind of their own. Equality’s self-respect and determination paved the way to a life of his own.

Horses Anatomy Essay

The respiratory system of the horse is well adapted to athletic exercise, with unrestricted upper airway diameters, and a large lung capacity afforded by 18 ribs. These combine to enable air intakes of up to 1800 litres per minute in a galloping horse. Volumes of up to 300 litres of blood are pumped at high pressure through small lung capillaries surrounding 10 million air sacs to take up and deliver over 70 litres of oxygen per minute to the working muscles at the gallop. As a result, any restriction in upper airway diameter, obstruction of the airways, diseases or stress related conditions that reduce efficiency of oxygen uptake from the air sacs, can have a great influence on athletic capacity. The large lung surface and high blood flow rates also provide the additional function of heat loss during and after exercise, with up to 20% of the muscle heat generated during exercise being exchanged across the lung surface to supplement sweating and other skin surface heat loss mechanisms. The respiratory system is continually challenged by a large amount of foreign material, including viruses, bacteria and fungi inhaled in air from track and arena surfaces during exercise, or from dusty bedding, feed and stable environments. The horses circulatory system is a very large and complex system made up of veins and arteries. The blood is the pumped under enormous pressure from the heart along the arteries which have thick muscular walls to deal with the pressure. It oxygenates the body and the internal organs The circulatory system is based upon the heart – a hollow, muscular organ in the chest cavity. It pumps the blood around the body and is divided into four separate compartments . Blood from the right ventricle goes to the lungs to be oxygenated and then is returned to the left ventricle. Blood from the left ventricle is pumped all through the body in arteries. Arteries repeatedly branch and diminish in size until they become microscopic capillaries. Capillaries permit necessary interchange between blood and tissue. They eventually join up to produce veins, which convey blood to the right atrium and from there to the right ventricle. A horse of average size has approximately 50 pints (28 litres) which circulate through his system every 40 seconds. Excretory system Depending on size, age, and productive status (work, sport, pleasure, breeding, pregnancy, lactation, retirement), a horse will digest about 60% of most feedstuffs. Feed that is 60% digestible indicates that if a horse is fed 25 pounds of dry feed, 15 will be digested and 10 pounds will be excreted as manure (feces). This will vary by feed. Feeds that are higher in fiber such as hays and grasses have a lower digestibility. Conversely, concentrate feeds that contain grains such as corn, oats, and/or barley, usually have a higher efficiency of digestion and less fecal excretion. Nitrogen (N) is a major component of protein. Horses need protein for maintenance, growth, reproduction, lactation, and work. Phosphorus (P) is a macromineral needed for maintenance, growth, and other physiologic functions. Water is also essential for bodily functions. Water is lost from the body primarily in the excretion of feces and urine, sweat, evaporation from the lungs and skin, and in the case of lactation, from milk. It also affects the consistency of manure. All nutrients that are digested (absorbed) are metabolized in the horse’s body. Some of these, especially nitrogen in proteins, are excreted in the urine. After being digested and metabolized in the body, waste nitrogen is converted to urea in the liver and excreted in the urine. Additional  undigested nitrogen is excreted in the feces. Overfeeding protein will increase the excretion of nitrogen. Overfeeding phosphorus will increase the excretion of phosphorous, most of which is excreted in the feces. Horses should be fed a diet that is digestible and formulated to meet nutritional requirements, while avoiding excesses. Overfeeding can result in higher levels of nitrogen and phosphorus in the manure. Horse farmers should feed horses according to their nutritional needs. Specific recommendations for nitrogen (protein) and phosphores.

Potential of Export of Good to Gulf Countries Essays

Potential of Export of Good to Gulf Countries Essays Potential of Export of Good to Gulf Countries Essay Potential of Export of Good to Gulf Countries Essay Dissertation Submitted to the Dr. D. Y. Patil University In partial fulfillment of the requirements for the award of The Degree of MASTERS IN BUSINESS ADMINISTRATION Submitted by: Ankit Sharma [pic] Current Future Potential of Export of Good to Gulf Countries with respect to SCI Ltd. Dissertation Submitted to the Padmashree Dr. D. Y. Patil University In partial fulfillment of the requirements for the award ofThe Degree of MASTERS IN BUSINESS ADMINISTRATION [pic] DECLARATION I hereby declare that the dissertation Current Future Potential of Export of Good to Gulf Countries with respect to SHIPPING CO OPRATION OF INDIA Ltd (SCI). submitted for the MBA Degree at Padmashree Dr. D. Y. Patil University’s Department of Business Management is my original work and the dissertation has not formed the basis for the award of any degree, associate ship, fellowship or any other similar titles. Place: Navi Mumbai Date:ACKNOWLEDGEMENTS A lot of people have contributed in making this project report by giving me the required knowledge and time. I would like to thank all of them. It is because of their continued assistance and competence that I have been able to reach this milestone. for instilling confidence in me to carry out this study and extending his valuable guidance and encouragement from time to time, without which it would not have been possible to undertake and complete this project within the stipulated time.The route of this service is as follows: Colombo/Mundra/JebelAli/Mundra/Pipavav/JNP/Cochin/Tuticorin. SCI also provides services to other upper-Gulf ports like Bahrain, Bandar Abbas, Sharjah, Abu Dhabi, Kuwait, and Muscat via Jebel Ali. The SCI began operating this new independent weekly service from March 2008 to the Gulf, with three owned 1600 TEU (1800 TEU nominal) vessels, on a round voyage schedule of 21 days. In December 2008, the SMILE service was expanded to carry feeder and coastal cargoes on the west coast of India. Through the SMILE service, the SCI has commenced a coastal service on the west coast of India between Mundra, Cochin and Tuticorin from December 2008.The main objective of this study is to ascertain the future exports of goods services to gulf countries in relationship with Shipping Corporation of India (SCI). Focus of the research would be to find out which gulf country’s economy will ascend in the near future its repercussions on the consumption pattern of the gulf countries, what will be the demand condition, market potential in the current economic scenario in the near future in terms of Export Import trade. The recommendations suggestions will focus on which products should be exported to the gulf countries by The Shipping Corporation of India to increase their overall profitability. Comprehensive study on linear service provided by the Shipping Corporation of India the marketing aspects related to it.The study involves in finding out the current players in the container trade to gulf countries, what are the major commodities that are exported, what is the vessel size if it is a weekly service. CHAPTER-1 INTRODUCTION About Shipping Industry About Shipping Industry We live in a global society which is supported by a global economy – and that economy simply could not function if it were not for ships and the shipping industry. Shipping is truly the lynchpin of the global economy: without shipping, intercontinental trade, the bulk transport of raw materials and the import/export of affordable food and manufactured go ods would simply not be possible.Of all the sectors that make up the global transport infrastructure, shipping probably has the lowest public profile and the least representative public image. Its importance is not well known although not a single area of our life remains unaffected by it. In the recent past developing countries have put the pedal on the gas and have raced ahead from the developed countries in case of the international trade. The growth in international trade, removal of trade barriers being the principal reason, has made the developing countries to concentrate more on the improvement of their infrastructure, like roads, airports, seaports, which play a vital role in the development of the economy.Product storage, along with the capacity to move large shipments have placed the shipping industry in a very advantageous position. Containerization, multi-modal transport services, advancement of marine engineering technology, specialized systems, and computerization have contributed towards making sea transport as a prime mode for movement of internationally traded goods. However, the development of shipping industry in a country also depends on its population density, economic advancement and many other inter-related conditions, like port and refueling capacities. CHAPTER-2 OBJECTIVE OF THE PROJECT OBJECTIVE OF THE PROJECT Primary Objective:Objective of the study is to find the current future potential of export of goods to Persian Gulf countries in relationship with Shipping Corporation of India. Secondary Objective: and Gulf countries for the year 2012-13 Secondary objective of the study is as mentioned below:- Current scenario of the global shipping industry India’s contribution to the world trade Total number of commodities exported imported by India Total number of commodities exported to and imported from Gulf countries in the year 2010-11 Potential future export of commodities between India and Gulf countries Competitor Analy sis Major commodities exported to Gulf countries List of documents required by the shipping vessels Comprehensive study on the liner service Trade study of last 3 years Projections of the trade between India CHAPTER-3 LITERATURE REVIEW LITERATURE REVIEW International Shipping Industry Benefits from Recent Tax Changes: Certified Public Accountant Lifson, David A; Bentley, Peter E. The CPA Journal[pic]75. 6[pic] (Jun 2005): 48-52. Despite its continuing importance, the shipping industry has lost most of the prestige it held in this country. One reason is that although several U. S. shipping companies are publicly traded, the nation is less well represented in international shipping than in other, comparable global industries. To partially address this complaint, and in an attempt to incentivize the U. S. hipping industry, the American Jobs Creation Act of 2004 includes four measures-the deferral of freight tax regulations; changes to the controlled foreign corporation rules; chang es to the foreign tax credit rules; and the introduction of a tonnage tax for qualified entities-that represent a dramatic change in federal tax policy and will likely make the U. S. environment more attractive to businesses engaged in U. S. -international shipping. The tax changes described in this article will have broad impact and are designed to change the risk-reward assumptions that the industry had come to accept. Over the coming months, ship-owners, operators, and financiers will better understand how these changes apply to them, and how they can profit in the new tax environment. The Greek shipping industry Grammenos, Costas T; Choi, Chong Ju International Studies of Management Organization[pic]29. 1[pic] (Spring 1999): 34-52. A wide range of industries are undergoing changes brought on by globalization.Even the Greek shipping industry, traditionally based in Greece with a wide international network, is being forced to make structural adjustments as changes in the regulato ry environment demand different means of financing, and these will, in turn, evitably change the competitive structure of the industry. The study analyzes the competitive advantage of ethnically homogeneous business networks with particular reference to the Greek shipping industry. Ethic homogeneity can provide market signals that can compensate for the contract uncertainty arising from the absence of legal means of contract enforcement. Also considered are the implications for shipping regimes such as those involving shipping cartels and safety and environmental concerns. Measuring Success Factors of Quality Management in the Shipping Industry Cheng, T C Edwin, Choy, Petrus W C. Maritime Economics Logistics[pic]9. 3[pic] (Sep 2007): 234-253.It is generally accepted that quality management is considered a valuable competitive factor for firms that confers them competitive advantages and enables them to achieve superior performance. Although there have been numerous studies examinin g general quality management practices and implementation, industry-specific studies on quality management practices and factors that influence their success in the shipping industry are rather few. This study seeks to identify the factors that are critical to successful quality management, and attempts to develop a reliable, empirically tested, and rigorously validated measurement instrument for quality management, for the shipping industry. We conducted a large-scale survey of shipping industry executives and applied a rigorous research methodology to treat the survey data.We identified four success factors of quality management, which are top management commitment and participation, quality information and performance measurement, employee training and empowerment, and customer focus, and developed a functional instrument to measure quality management in the shipping industry. This paper contributes to research by identifying the success factors of quality management, and provide s managerial insights on the successful management of quality, in the shipping industry. Helping the Shipping Industry to Bounce Back from the Global Challenge in the Face of the Economic Downturn Anonymous. PR Newswire [New York] 11 Jan 2010. More than 40 brilliant speakers from the Chinese government, marine organizations, shipping corporations, and technology providers from all over the world will speak to over 200 attendees active in the industry on the summit themes of efficiency, security, and the environment. Since its creation in 2007, Shipping Tech has encouraged technological development across the shipping industry and established an international forum for cooperation between governments, shipping corporations, ship manufacturing corporations, technology providers and other related industrial elites for the innovation of shipping technology. Liberalization and Deregulation in the Domestic Shipping Industry: Effects on Competition and Market Structure Austria, Myrna S. Ph ilippine Journal of Development[pic]30. 1[pic] (2003): 29-69. The paper is organized as follows. The first section discusses the contestability of markets in the shipping industry, including the arguments for and against regulating the industry.The succeeding section examines the policy reforms made through liberalization and deregulation. The effects of the reforms on market structure and competition, including the impact of competition on efficiency, are then analyzed. This is followed by a discussion on the role of the Maritime Industry Authority in a deregulated and liberalized environment. Areas for competition policy and further reforms are then identified. Shipping industry continues to face difficulties Accord Fintech [Mumbai] 10 Feb 2010. Increase in handling of iron ore, thermal coal, petroleum oil and lubricant products (POL) and container traffic were the main factors pushing the cargo volumes.The Baltic Dry Index (BDI), the global benchmark for shipping freight rates of dry bulk carriers, started recovering in April last year riding on surging commodity demand from China. Indian shipping industry faces negative outlook in 2011: Fitch Anonymous. Asia Pulse [Rhodes] 28 Jan 2011. Fitch Ratings maintains a negative outlook on the Indian shipping industry in 2011, as freight rates will remain depressed because of the demand-supply imbalance caused by a net increase in capacity exceeding demand, it said in a statement. * The ratings firm said that lower freight rates have affected revenue generation across shipping companies, in line with the global trend and said major players will be under pressure in 2011. During 2011, low freight rates are expected across all segments like dry bulkers, tankers and containers, and few Indian shipping companies are expected to undertake aggressive capex plans, it said. Container Shipping Industry Celebrates National Maritime Day Anonymous. PR Newswire [New York] 21 May 2008. Atlantic Container Line AB, China Shipping (Group) Company, CMA-CGM Group, COSCO, Crowley Maritime Corporation, CSAV (Compania Sud-Americana de Vapores S. A. ), Hanjin Shipping Co. Ltd. , Hapag-Lloyd AG, Hyundai Merchant Marine Co. , Kawasaki Kisen Kaisha, Maersk Line, Malaysia International Shipping Corporation (MISC), Mediterranean Shipping Co. S. A. (MSC), Mitsui O. S. K.Lines, Neptune Orient Lines Ltd/APL, Nippon Yusen Kabushiki Kaisha (NYK), Orient Overseas Container Line Ltd (OOCL), Pacific International Lines (Pte) Ltd, United Arab Shipping Co (SAG), Wan Hai Lines Ltd, Yang Ming Marine Transport Corp. , Zim Integrated Shipping Service Ltd. Indian Shipping Industry Carrying Capacity Cross 10 Mln Gt Anonymous. Asia Pulse [Rhodes] 20 Sep 2010. The aim was to provide a level playing field to domestic shipping industry against the international shipping companies and facilitate the growth of Indian tonnage. [ ] the Indian tonnage has steadily grown over the last 5 years from 6. 94 million in April 2004 to the present level , the statement said. Research and Markets; Indian Shipping Industry Economics Week (Mar 23, 2012): 548.The Shipping Industry Sailing through turbulent waters The Shipping industry is highly co-related to the developments in global trade, therefore any adversity in the global economic growth adversely affects the prospects of global shipping fraternity thereby explaining the cyclical nature of the industry. CHAPTER-4 RESEARCH METHODOLOGY RESEARCH METHODOLOGY Research refers to a search for knowledge. It is a systematic method of collecting and recording the facts in the form of numerical data relevant to the formulated problem and arriving at certain conclusions over the problem based on collected data. Thus formulation of the problem is the first and oremost step in the research process followed by the collection, recording, tabulation and analysis and drawing the conclusions. The problem formulation starts with defining the problem or number of problems in the functional area. To detect the functional area and locate the exact problem is most important part of any research as the whole research is based on the problem. According to Clifford Woody research comprises defining and redefining problems, formulating hypothesis or suggested solutions: collecting, organizing and evaluating data: making deductions and reaching conclusions: and at last carefully testing the conclusions to determine whether they fit the formulating hypothesis.Research can be defined as the manipulation of things, concepts or symbols for the purpose of generalizing to extend, correct or verify knowledge, whether that knowledge aids in construction of theory or in the practice of an art In short, the search for knowledge through objective and systematic method of finding solution to a problem is research. SOURCES OF DATA: PRIMARY DATA COLLECTION: Primary data are those, which are collected afresh and for the first time and thus happen to be original in character, questions and interview s methods were accede to collect primary data by visiting the factory premises and various departments in it. It was collected from the employees working in the factory. By using both the questionnaire method and interview method. I would gather information from the employees. SECONDARY DATA COLLECTIONIt is collected from the internal records of the company such as library records, trade journals, various manuals of the company, various training programs previously conducted and it’s responds etc; It is also conducted from the officials of the pursued department in the factory. Secondary data provides a better view of the problem study many magazines, tools and other references were also mean important in this study. CHAPTER-5 GLOBAL SCENARIO GLOBAL SCENARIO It is generally accepted that more than 90 per cent of global trade is carried by sea. Throughout the last century the shipping industry has seen a general trend of increases in total trade volume.Increasing industrializa tion and the liberalization of national economies have fuelled free trade and a growing demand for consumer products. Advances in technology have also made shipping an increasingly efficient and swift method of transport. World seaborne trade figures i. e. the amount of goods actually loaded aboard ships have increased considerably since the 70s and in 2008, reached 8. 2 billion tons of goods loaded. As with all industrial sectors, however, shipping is not immune to economic downturns and 2009 witnessed the worst global recession in over seven decades and the sharpest decline in the volume of global merchandise trade.In tandem with the collapse in economic growth and trade, international seaborne trade volumes contracted by 4. 5 per cent and total goods loaded went down to 7. 8 billion tons in 2009. However seaborne trade bounced back in 2010 and grew by an estimated 7 % taking the total of goods loaded to 8. 4 billion tons. Developing countries continued to account for the largest share of global seaborne trade (60% of all goods loaded and 56 % of all goods unloaded), reflecting their growing resilience to economic setbacks and an increasingly leading role in driving global trade. Developed economies’ shares of global goods loaded and unloaded were 34 % and 43 % respectively. Transition economies accounted for 6 % of goods loaded and 1 % of goods unloaded. Developing countries are expanding their participation in a range of different maritime businesses. They have growing market shares in more capital-intensive or technologically advanced maritime sectors such as ship construction and ship owning. China and the Republic of Korea between them built 72. 4 per cent of world ship capacity (dwt) in 2010, and 9 of the 20 largest countries in ship owning in January 2011 are developing countries. Dry cargo, including bulk, break bulk, and containerized cargo, accounted for the largest share of goods loaded (66. 3%), while oil made up the balance. Growth in dry bulk trade is estimated at 4. 8% with the five major bulk products, fuelled mainly by the needs of China’s metal industries.In 2010, developed economies recorded positive growth, with their GDP expanding by 2. 5 per cent. The United States and Japan performed better than the European Union, growing respectively by 2. 9 per cent, 4. 0 per cent and 1. 8 per cent. Developing economies and economies in transition continued to drive the global recovery with the rebound being led by large emerging economies, in particular China (10. 3 per cent), India (8. 6 per cent) and Brazil (7. 5 per cent). Almost unburdened by the financial crisis and consequent economic downturn, China, India and other developing countries resumed their expansion by generating their own growth instead of relying on exports to developed economies’ markets.While the Unites States remains the main source of import demand for Asia, China has evolved into an independent engine of regional growth and a larg er source of final demand for a number of emerging developing economies, including the Philippines, the Republic of Korea and Taiwan, Province of China. The lead taken by developing countries in powering global growth reflects a shake-up in the world’s economic order which has taken decades to unfold. UNCTAD data show that the share of developing countries in the global economic output rose from about 17 per cent in 1980 to over 28 per cent in 2010, raising the influence of these countries in the world’s economic performance.In 2010, China overtook Japan as the world’s second biggest economy (in nominal terms) and is leading the transformation together with some of the world’s fastest-growing economies such as India and Indonesia. An important economic milestone in 2010 was Brazil’s ranking as the world’s seventh largest economy after surpassing Italy. Goldman Sachs is now predicting that the BRIC countries (Brazil, Russian Federation, India and China) will overtake the G–7 countries in size of their economies by 2018, i. e. much sooner than its original prediction of 2040 made a decade ago. The overall strong performance of developing countries as a group conceals differences between countries and groupings.For example, GDP growth in South Africa (2. 8 per cent) was much lower than the rates recorded by China, India and Brazil. Similarly, the recovery in many of the least developed countries (LDCs) remained below their potential with GDP growth (4. 8 per cent) not returning to its pre-crisis levels. The economic downturn and consequent increase in unemployment, together with the drop in social spending, can cause a serious setback to social equity and poverty alleviation. Although some ground has been gained, between 2007 and the end of 2009, at least 30 million jobs are estimated to have been lost worldwide as a result of the global financial crisis.The global economy still needs to create at least another 22 million jobs to return to the pre-crisis level of global employment. It is further estimated that 47 million to 84 million more people are falling into or staying in extreme poverty because of the global crisis. While these considerations are not specific to the LDCs, they are nevertheless more detrimental for these countries in view of their inherent vulnerability to any erosion in economic and development gains achieved as part of efforts to attain the Millennium Development Goals (MDGs). In terms of value of trade, USA is the major country engaged in maritime transport generating 10. 68% of world trade in 2008. Other major countries include Germany (8. 22%), China (7. 91%), and Japan (4. 78%).Among the Asian countries, China is the largest trader with large container port traffic and fleet. China International Marine Containers (CIMC) and Singamas are the two largest container manufacturers, which make China dominate in this field also. India is placed at eighteenth position in t he world (with a share of 1. 45%), and seventh position amongst Asian countries. Table no. 5. 1 Growth of world output 2005 2013 [pic] [pic] Effects of the Global Slowdown Shipping Industry has been widely impacted given the economic slowdown of 2008 and 2009. Since the demand for ships / vessels is a derived demand of commodities, the slowdown affected the demand for ships / vessels during this period.This has been evident from the movement of Baltic Dry Index (BDI), which is a daily weighted average of prices of shipping raw materials, and is one of the leading indicators of global economic activity. BDI measures the demand to move raw materials, which indicates production, planning and industrial activity worldwide. BDI reflects the freight cost to transport dry bulk cargoes around the world, mainly raw materials such as iron ore, coal, and grains. The index excludes wet cargoes (such as crude oil carried by tankers) and container business (used mainly to carry manufactured prod ucts). As the global trade shrunk by over 10%, many shipping lines found themselves in a situation of excess capacity (many liners ordered new ships during the economic boom period).Some analysts predicted that at least few shipping lines would go out of business to match with the supply demand situation. However, it is believed that shipping lines, in an informal arrangement, collectively reduced the capacity through slow steaming’ (spending more days in sea, which helped them to save on fuel and reduce capacity). It is estimated that slow-steaming could cut a liner’s capacity by around 5%. It is also believed that some shipping lines have teamed up to levy a voluntary surcharge of US $ 400 per container. Both the Federal Maritime Commission (USA) and the European Monitoring Agency are closely monitoring the developments to see any evidence of price fixing by shipping liners. Maritime Transport and Climate Change ChallengeLike other economic sectors, maritime transpor t, which by volume carries over 80% of global trade, has a role to play in addressing formidable challenge of climate change. International maritime transport is playing a part in contributing to climate change, but more importantly, it is also likely to be directly and indirectly impacted by the various climate change factors, such as rising sea levels, extreme weather events and rising temperatures. The wide-ranging impacts of climate change, including that from maritime transport, and their potential implications for trade, economic growth and development, underscore the need to integrate climate considerations into strategies for transport planning and development.Increasingly, it is being recognized that considered and concerted actions are urgently required to ensure effective control of greenhouse gas emissions and to establish the requisite adaptive capacity in the shipping industry, especially in developing countries. Recognizing the importance for the maritime transport se ctor of contributing to global efforts at reducing emissions of greenhouse gases, IMO’s Marine Environment Protection Committee (MEPC) is considering a number of mitigation measures aimed at reducing emissions of greenhouse gases from international shipping. Integration of Shipping Industry with Global Logistics and Supply Chains Global shipping majors, like other segments of the conventional transport industry, are increasingly getting integrated with the emerging global logistics and supply chain activities, owing to both external and internal dynamics.Many firms are entering into the enhanced canvas of offering logistics solutions, such as door-to-door delivery systems, integrating with rail/road haulage movements of cargo, customs brokerage, cargo consolidation, packaging/ re-packaging, and distribution services, thereby substantially consolidating their market position, and supplementing their ocean freight income. The global shipping industry is thus going through a maj or redefinition by undertaking logistic integration of their cargo operations. Change in Directions in Trade Volume Multi-polarity of trade flows, and the growth in trade volumes of Asian region is expected to impact the world shipping, as profoundly done by liner shipping and containerized cargo some decades ago.The earlier phase of trade volume witnessed shipping growth in Transatlantic and Transpacific routes, and the growing volume of world trade, especially from Asia, is likely to position the Pacific Rim and Indian Ocean Rim routes in the lime light. Common Port to Specialist Port Ports have been conventionally viewed as provider of omnibus solution to all types of cargo on a common basis. However, the global trend is veering into development of freight specialized ports – such as LNG terminals, container terminals that involve high capital costs and intensive deployment of cargo handling equipment. Also, there has been a global trend in the port sector towards growing separation of port authority from port operator.The balance of power in the maritime trade, which was traditionally in favor of shipping lines, has been shifting in favor of shipper, whose cargo is being moved. With such emerging trends in port development in the world, shipping companies are expected to change their strategies and offer solutions to suit such trends. Growth in Establishment of Transshipment Terminals Growth in long distance and containerized trade has led to the growth in establishment of transshipment hubs. It is not possible to establish direct shipping connections between every country because either there may not be enough volume, or the ports may be located distantly from each other. Therefore, a set of direct or transshipment connections are required to link all country pairs by maritime shipping.For this purpose, the transshipment terminals and intermediate hubs have been started. The world’s most important intermediate hub is ingapore, where 92% of its traffic is transshipped. The emergence of major intermediate hubs favored a concentraStion of large vessels along long-distance, high capacity routes, while smaller ports can be serviced with lower capacity ships. Consequently, the emergence of intermediate hubs has permitted liner services that would otherwise be economically unfeasible. Port Regionalization Ports, especially large gateways, are facing a wide array of local constraints that impair their growth and efficiency. Limited availability of land for expansion is among one of the most acute problems.This issue is exacerbated by the deepwater requirements for handling larger ships. Port regionalization is required when the ports are not able to handle additional traffic. Port regionalization refers to integration between maritime and inland transport systems, particularly by using rail and barge transportation, which are less prone to congestion than road transportation. Port regionalization and hinterland connectivity h as been growing over the years, with the objective of meeting the constraints faced by ports. Port regionalization helps in creating a regional load centre network through joint development of a specific load centre and logistics platform in the hinterland.This has led to the development of corridors leaning on rail or barge services connecting to inland terminal facilities, which act either as satellite terminals, load centers or, less commonly, transmodal facilities. Many port authorities, terminal operators, commercial real estate developers and local/regional governments have been actively involved in the setting of such facilities. Satellite terminals: These are tend to be close to a port facility, but mainly at the periphery of its metropolitan area (often less than 100 km), since they mainly assume a service function to the seaport facilities. They accommodate additional traffic and undertake services that have become too expensive at the port, such as warehousing (e. g. emp ty containers) and distribution.Satellite terminals can also serve as load centers for local or regional markets, particularly if economic density is high, in which case they form a multi-terminal cluster with the main port they are connected to through regular rail or barge shuttle services. For gateways having a strong import component, a satellite terminal can also undertake transloading function in a significant manner, where the contents of maritime containers are transloaded into domestic containers or truckloads. Load centers: This refers to a major intermodal facility load center granting access to welldefined regional markets that include production and consumption functions. It commonly corresponds to a metropolitan area where a variety of Intermodal / transmodal facilities: These link large systems of freight circulation either through the same mode (e. g. ail terminals serve concomitantly intermodal, warehousing, distribution and logistics functions. These tend to ta ke place in logistics parks and free trade zones (or foreign trade zones). The inland terminal is thus the point of collection or distribution of a regional market. The more extensive and diversified the market, the more important is the load center. If the load center has a good intermediary location, such as being along a major rail corridor, then freight distribution activities servicing an extended market will be present. -to-rail) or through intermodalism (e. g. rail-to-truck). In the latter case, the inland terminal assumes the role of a load center.The origin or the destination of the freight traffic tends to be elsewhere, particularly for transmodal freight. Current World Trade Situation World trade continued to recover in 2011, albeit at a much slower pace than in 2010. After a strong rebound of more than 14 per cent in 2010, the volume of world exports in goods decelerated visibly, to 7 per cent, in 2011. The level of total world exports had fully recovered to its pre-cris is peak by the end of 2010, but it is estimated to be still below the long-term trend level by the end of 2011. As has been the case with the recovery of WGP, developing countries, particularly Asian economies with large shares in the trade of manufactured goods, led the recovery.While the level of trade in volume terms has already far surpassed the pre-crisis pe

The Augustan Principate essays

The Augustan Principate essays A Period of confusion, unrest, civil strife and violence of all kinds had finally culminated in the emergence of one man as the supreme arbiter of the destinies of the roman world. Octavian was that man. During his triumph in 29B.C, Octavian (later to become Augustus) had returned to Rome a hero after having organized the East. Octavian had held the consulship in 31B.C up until 23B.C. The Augustan principate was the name given to the reformations Augustus had brought to the Republic. These values were in essence applicable to the format of the Empire was run for the next 200 years. What Augustus done most successfully was recognize that he needed to rectify the mistakes that his predecessors had made as well implementing some of their more successful ideas into his plans. The Augustan principate was laid down for the first time in 27 B.C, however Augustus himself rectified it furthermore in 23 B.C and in 18B.C. The individual success of Augustus is plain to see as he survived at the heart of the Empire until his death at an old age. In several ways the reforms under Augustus had directly links to the past, such as the involvement of Augustus with the arts at the time and the emphasis he placed on upholding roman morals. He also held pro-consular power, which had been seen in the past. Although there were links to the past the emphasis of the Augustan principate was the new format that Augustus introduced. The 19th century historian Mommsen argued that the division of provincial responsibility between the Emperor and senate was legitamate; he termed the situation as a diarchy. This was one of the new situations created by the Augustan principate. One thing which was relatively new to Romans was the peace and stability enjoyed under the rule of Augustus. The main emphasis of the reforms were to tie the Emperor closer to the military, how did Augustus do this? He gave new powers to new constitutional positions and gave prece...