Marketing plan of a restarant Case Study Example | Topics and Well Written Essays - 1250 words

Marketing plan of a restarant - Case Study Example Therefore it is important for investors to have knowledge of the target group in regard to the hotel type. For example Urspace Cafà © located in Temple City can arguably be considered a business hotel since it mainly deals with customers seeking day food and breakfast. However, despite the hotel type it important to ensure that the marketing strategies employed are excellent. Excellent hospitality operation is one of the basic marketing strategies applied by in the hotel industry. Hospitality operations go beyond the normal daily greetings as customers enter the premise. Successful hospitality operations involve increased knowledge about the customer base in order to offer the best services without necessarily being prompted to. For starters, waiters and waitresses should have good knowledge of all available foods and beverages to avoid uncertainty when an order is placed. Additionally, they should be aware of the frequently requested food types especially by frequent customers to give room for suggestions. This is also important to ensure that frequently foods and beverages are always present hence eliminating customer disappointments. This improves interactions between the personnel and the customers thereby creating a sense of satisfaction. Additionally, building strong relationships with the customers makes it easy to identify arising problems. This is because loyal customers accustomed to the hotel feel welcomed to give suggestions on improving levels of service. Therefore, in case of a complaint a customer will not opt for another hotel but rather will consider communicating with the personnel so that the problem can be addressed. Additionally, in as much as caution is taken, there is bound to be errors though few thereby prompting a customer’s complaint. Part of excellent hospitality is ensuring complaints and suggestions raised are addressed fast enough and accurately.

Expression in Human Imagination, Values and Emotions Essay

Expression in Human Imagination, Values and Emotions - Essay Example According to Vernon (1999), the birth of baroque style was an extension of the renaissance art period. Eventually, renaissance gave way to baroque, as the baroque style became more and more distinct. Baroque paintings, sculpture and architecture of a dramatic character were influential tools in the possession of secular and religious absolutisms. Baroque flourished in the service of the Catholic monarchies and the Catholic Church. The artists of this style concentrated on space lights, natural forms, colors, as well as the literal relationship between the portrait subject and the observer. This style produces experience emotions, immensely powerful and thrilling to the observer. The logical purpose of this style was to relay messages to the illiterate people rather than the educated ones. This explains why the paintings were portraits of common and famous stories in the scripture. Initially, baroque art style was dominated by history paintings, religious paintings, portraits and allegories, but later, genre scenes, still life and landscapes gained notoriety rapidly (Vernon, 1999). The most striking feature of the baroque painting was immense drama, dark shadows and intense light. The artists used to select the moment when the action was taking place and also slightly before a sweeping action would take place (Vernon, 1999). For example, the portrait of a steady David daring the giant and another portrait of David throwing the stone with his sling. Baroque style of art was meant to evoke passion and emotion, as opposed to calm rationality of Renaissance. Baroque came up during a period of political and religious strife. Reformation was bringing chaos among the religion of Roman Catholic. As such, it formed a counter reformation to check the increase of Protestantism (Vernon, 1999). Rome was the centre of patronage at that period, and the church was in need of an art style that would lure people back to Catholic Church. The art was further influenced by the prevailing political climate as the monarchies of Spain, which promoted this style. This art period denied people the freedom to choose their life style and enjoy entertaining pieces of art, as it concentrated on religious issues only. Further, the political and religious chaos was ruining people’s happiness. This pressure led to the development of the rococo art movement. #2 Rococo Art was a decorative interior design and French art that emerged in the period (c.1700-1789). Rococo art style focuses on the indulgence and lavishness of the aristocracy. The paintings of this style have outstanding erotic themes, and they are also whimsical with striking flowering brushstrokes and petal colors (Vernon, 1999). The design of rococo rooms was total works of art with ornate and elegant furniture, tapestry complementing style, ornamental mirrors, and small sculptures, wall paintings and relief. Painters used curving forms and delicate colors to produce exceptional artistic works that were naughty. Many people believe that rococo serves the same purpose to baroque as mannerism serves to Renaissance. Therefore, rococo is

Real Estate Business Plan

Real Estate Business Plan Business idea- Real Estate (Apartment House Finder Business) Executive Summary Finding a new home or apartment to rent can be a very time-consuming and daunting task. Thats why many people needing to rent a home enlist the services of a professional apartment and house-finder service. The service can be operated from home and on the web but I will start company by taking a rental office location for client visits, as well as build a website to feature available properties for rent. This business is competitive. Company want to consider specializing in one or more of the following types of rentals: room mate listings, short-term furnished and unfurnished accommodations, long-term furnished and unfurnished accommodations, executive accommodations, rentals that allow pets, student housing, vacation properties, or niche properties such as penthouses only, parking stalls, floating accommodations, or artist lofts and commercial properties. There can also have a couple of options in terms of fees. Company can charge renters a fee to find the right place to suit their needs. Or can charge the landlord or building owner a fee to list his or her properties with your service. The key costs related to start-up will be in the region of  £2,000  £10,000 depending upon the shop location. What I Need to Start my business: Step  1: Identify the need for an apartment locator service in my local area. Make phone calls, followed by in-person visits to local apartment complexes announcing the benefits of the services Our company will provide. Start by locating properties for family and friends, and use their successes as testimonials to the efficiency of your service. Step  2 company will License new apartment locator business with the state. Obtain a unified business license to operate within the state where our company will conduct business. Determine a structure for our business, such as a corporation, limited liability company or sole proprietor. Contact city licensing agency to determine if additional permits and licenses are required for our business type. Step  3 Rent, lease or convert a home office space. If our company will meet with applicants and apartment representatives in office, leasing an affordable commercial space will provide a more professional environment. Or we can Convert a room in home to operate your new apartment locator business if we plan to conduct business through Internet. Step  4 we will Create a strategic operational and marketing plan will Follow that plan to measure successes, growth of business and build a data base of clients and applicants. we will Promote our apartment locator business with fliers, business cards, refrigerator magnets, mass mailings, advertisements in local community papers and temporary specials, such as fee free for 30 days. Step  5 company will Collect apartment finder guides for our area will Use apartment guides to compile a working database of complexes and online resident feedback. Categorize by name, location, price and number of bedrooms. Take special care to accurately match with apartment seekers. Check online for apartment features and amenities before referring. Check areas and note added features, such as easy access to bus lines, shopping and schools. Step  6 Purchase office equipment, furniture and supplies. We will Stock office with supplies and furniture, such as pre-screening applications, staples, copy paper, file folders and cabinets. Purchase database and word processing software to electronically maintain applicant and client information. Step  7 company will Pre-qualify applicants before referring. Ensure applicants meet the income, rental history and criminal background requirements before making referrals. Obtain a release from applicants to conduct preliminary background checks. Employ the services of a background investigation service to collect additional information, such as credit reports. Objectives: it’s time to lay down how I am going to execute and bring mission to reality? That’s where setting goals or objectives come into play. S SPECIFIC M MEASURABLE A ACTIONABLE R REALISTIC T TIME-FRAME To provide the best accommodation available to the local community at a convenient time frame and at affordable price. To generate market share to make â€Å"Home Finder† a common name. To be a local home finder of choice based on customer satisfaction. Gross margin moderate and improving over the span of the plan. Safe, quality housing that provides state-of-the-art amenities at competitive prices. Maintaining open communication between Company and its customers in order to ensure the highest level of customer satisfaction and long lasting reputation within the community. Mission: â€Å"HOME FINDER† provides high-quality, comfortable rental units in derby. Our company offer state-of-the-art living conditions reflective of the rapid advancements in technology and a growing need for quality housing. Our company is dedicated to a hassle free living environment in which our tenants can enjoy all of the benefits of safe, attractive, and inviting units. Unlike many other companies that are solely concerned with turning profits, our primary objective is to maintain the highest level of customer satisfaction . Tenant safety, happiness, and comfort are our main goals. â€Å"HOME FINDER† maintains competitive market prices, while working toward expanding the number of units owned, and increasing total profits earned. Within the company we will strive to work as a cohesive, harmonious unit focused on exemplifying our mission. Just as customer satisfaction is an intricate part of company success, so is employee satisfaction. That is why the founders of †Å"HOME FINDER† Real Estate believe that employee satisfaction will make the company a success and will be the key to their longevity. Housing units will predominantly be located in the University neighbourhood targeting both students and professionals. Vision: Company vision is to start a business from home online with one person(sole proprietorship) and in few years reach to every person who needs services regarding property. To continue to expand and maintained the business while also increasing the level of profits . Company summary: Home Gadget Repair is to be set up as sole proprietorship owned by Gurjot kaur With a small loan from Government schemes and Get a bank loan . I will choose option to take loan for business from government schemes there are total 629 schemes available under â€Å"finance and support centre† and I can take loan under â€Å"New Enterprise Allowance. It will grow in one year from a one man business to four person business. Company will build the necessary infrastructure to quickly and efficiently respond to customers. To start a business I can go to National Enterprise Network it is a unique membership body representing the enterprise support sector across England. where I can get advice regarding my business and can convert my ideas into reality .i will get register my intellectual property there to make sure nobody can copy my business without my permission. Initially the business is to be set up as a Sole proprietorship, owned and operated for profit But after few years when company will be able to invest for business extension we will lease a space for the offices and purchase more company vehicles. Services: â€Å"HOME FINDER † company will provide different services like to find out rental house , flats and commercial properties according to user requirements. Moreover we will provide services to customers within 24 hours . From the day one we decide to give fast services to our clients. Market analysis summary : The key part of any business is market analysis .A market analysis is a quantitative and qualitative assessment of a market. It looks into the size of the market both in volume and in value .There are two factors you need to look at when assessing the size of a market: the number of potential customers means quantitative market research and the value of the market, feedback , thoughts and feelings of customers are related to qualitative market research. Market and customer segmentation: In target market there are two types of customers one is those who are looking for commercial property and other one those who are looking for homes and apartments. Customers those who are looking for houses and apartments for rent according to my market research they will be between 18-34 age and most of them will be immigrants like students, professionals , singles and couples. According to prototype testing they are not willing to spend too much money on rent . Second group of customers are those who are looking for commercial properties they can be a sole proprietor , can be a business partners and can be a big corporation. Their demands for rental property will be different and amount of rent willing to spend will be different . All these things can be sure by survey on a certain group of people and it can help me to improve my business plan . Customer relationship management (CRM): customer relationship management is a strategy for managing all company relationship and interactions with customers. Company will focus on every individual customer whether he is new customer or current customer. It will help our company profitability. In CRS our company will use centralised data base system where all contacts will be stored who ever will be related to our company . In this way we can enable inquire data in back office as well in front office. Why CRM in real estate ? Tenant relationship information is managed in multiple or isolated databases that can create duplicative information and to understand and share that data will become difficult. When every lease or transaction will be different and the associated process to execute that is unique and manual, undue administrative effort and errors will be occur. Marketing: In businesses marketing is everything . Marketing strategy create a meaningful interaction between two parties. There are many ways through which we can reach to customers. USP (Unique selling point): To attract customers and make profit company must have a unique selling point it will be a strong way to compete with competitors in market and will be a key point to stay in market for long period . As compare to companys other competitors our company will charge less . the other one unique point is our company will not take any commission from rent we will just charge customer our fee . Customer can also give rent in instalments to landlord if he cant afford. We will Learn our competitors’ strengths and weaknesses – imitate their strengths, and use their weaknesses to our advantage. Revenue streams: company source of revenue will be the services that company will offer . Tenant will get a property on rent according to their requirements and they will pay accordingly. company will charge a consultation fee for service and will also take commission from the monthly rent . From the landlord company can charge if he is using our website to advertise his property . Value proposition: Values we deliver to the customer: Convenience is the foremost thing that we will give to customer. To satisfy customer with our services is our first duty. Company will not charge any fee if tenant is not satisfied with service and want to change the property. We will provide service to customer as soon as possible because we know how important the customer time is, will charge less as compare to other market competitors. Risk analysis: Specific risk and their solutions: If a customer wants to break a contract before the completion of agreement then there is a solution for this problem before making a contract company will make a lease documents in a proper legal way with the agreement of both parties . This agreement can be a written and oral(recorded). Break clause: Agreed by the landlord and tenant, where the lease can be ‘broken’ without anyone facing a penalty. Tenant need to give landlord 2 months notice that he/she is using the break clause. Fixed-term tenancy: A fixed-term tenancy means the lease automatically comes to an end when the term is up. If a tenant want to stay on after this term, tenant can do so if your landlord agrees. However, staying on past a fixed term marks a ‘continuing obligation’ to pay rent. You’ll then need to give 3 months notice when you want to leave. Landlords and ending a lease: Landlord can only end a lease when the tenant fails to pay rent or meet other lease obligations. If landlord have included a ‘forfeiture clause’ in the lease, landlord can use it in these situations to end the lease. However, if the tenant can challenge this in court they may be allowed to stay in the property. There is a one more solution that can stop the occurrence of these types of problems like before agreement our company will do inquiry at a tenant side. company will check the financial status of party , past records. Our company will be update itself from time to time of new laws of leasing a property. SWOT Analysis: Strengths : Our company will charge less fee and less commission from customer and will take commission †¦% only if customer is giving rent more than 500 . so this is a one positive point of our company to attract customers. We will serve customer and will fulfil customer requirements in better way. We are able to respond very quickly as we have no red tape, and no need for higher management approval. We can change direction quickly if we find that our marketing is not working. We have low overheads, so we can offer good value to customers We are able to give really good customer care, as the current small amount of work means we have plenty of time to devote to customers Weaknesses: Initially the only person who will handle whole business will be I . so no manpower can be a negative point for me Company will have a small staff, with a shallow skills base in many areas . Our company is new it will be a challenge for me to make image in market. Our cash flow will be unreliable in the early stages Opportunities : Changes in technology and markets on both a broad and narrow scale. Changes in government policy related to my field and I am well aware of all laws of government related to my business. Changes in social patterns, population profiles, lifestyle changes, and so on. Local events can give me opportunities . Our business sector is expanding, with many future opportunities for success. Local government wants to encourage local businesses. Our competitors may be slow to adopt new technologies Threats: Budget can be a massive threat for our company because initially whether I get profit or loss I have to invest money and have to be patient to get profit. I have to compete with those companies who are well established in market and have good image. To run a business smoothly it can be a threat for me. A small change in the focus of a large competitor might wipe out any market position we achieve

Exploring Subjectivity in Teaching Philosophy :: Philosophy Philosophical Papers

Exploring Subjectivity in Teaching Philosophy ABSTRACT: In the teaching of philosophy, we need to be connect with everyday life. Students in introductory courses can be more motivated when philosophical problems have personal significance. Take the topic of 'selfhood.' Introductory textbooks generally begin with the oracle at Delphi: "Know thyself!" But this motto is usually treated as the search for general knowledge of the individual or of human nature. Is it possible for a student to acquire some knowledge about him or herself during this course and reflect on it in a philosophically relevant way? Can personal experience help in understanding philosophical concepts such as this one? These are the questions which I address. Since I think that philosophers have yet to develop didactical tools for these purposes, I will present techniques derived from Gestalt therapy which can be useful for the teaching of philosophy. The aim is not change but experience itself, with awareness serving as the basis for philosophical analysis. The characteristics of this experience-based pedagogy are: (1) three dimensional inquiry: questioning basic concepts or assumptions and opening new questions, both based on personal experience; (2) experiential work involving a problem, a theory, and an example; and (3) mutual influence between theory and experience, i.e., an interrelationship between the personal and the 'educational' gestalt. "Know Thyself!" This oracle at Delphi which was Socrates' motto inspires many philosophers but also psychologists and even psychotherapists. Each of them has good reasons for insisting that this is his domain. Several questions could be raised: Was Socrates a philosopher or a 'psychologist'? What kind of knowledge is this self-knowledge? How do these domains differ and do they have something in common? How are they related to spirituality? And many others. My interest, however, is more narrow. Although we can suppose there is an overlap between philosophy, psychology and psychotherapy, in this paper I will focus on the overlap between teaching philosophy and psychotherapy. More precisely: how can Gestalt principles and techniques help in the teaching of the topic of selfhood. I will outline some theoretical background of the importance of Gestalt in relation to didactics of philosophy and describe some possible applications. When I ask whether Socrates was a philosopher or a psychologist, this is also a question about what kind of knowledge is involved. Do I really want to know myself or do I just search for general knowledge about human nature?

Research Project Climate Change Essay

INTRODUCTION Climate change is the variation of the weather in global scale which include changes in temperature, precipitation, nebulosity and other phenomena. These variations last for an extended period of time (decades to millions of years) and they can be caused by external forces (variations on the solar activity, orbital variations, impact of meteorites), internal forces (volcanic eruptions, plate tectonics, El Nino), or by results of the human activity (global warming). Global Warming There are many questions about global warming, from its causes to its effects, and many people even question whether or not it even exists. Global warming is described as the increase of the average temperature of the Earth caused by increasing concentrations of greenhouse gases produced by human activities, such as deforestation, use of fertilizers, fossil fuel combustion and cement production. According to the global warming theory, the intensification of industrial activities during the twentieth century (based on the fossil fuel combustion such as petrol and coal) increased the concentration of CO2 in the atmosphere. The increase of the global temperature and the new composition of the atmosphere lead to several alterations which affect the elevation of the sea level, heat waves, droughts and heavy rainfall, ocean acidification and species extinctions, to name a few. Greenhouse effect and the emission of CO2 Greenhouse gases keep the Earth warm through a process called the greenhouse effect. If it were not for the greenhouse gases trapping heat in the atmosphere, the Earth would be a very cold place. Greenhouse gases are any of the atmospheric gases that contribute to the greenhouse effect by absorbing infrared radiation produced by solar warming. They include carbon dioxide (CO2), methane (CH4), nitrous oxide (NO2), ozone (O3), and water vapor. Greenhouse gases occur naturally in the atmosphere, but the elevated levels are directly blamed to human activities, specially the production in excess of carbon dioxide when any material containing carbon is burned, such as oil, coal, natural gas, or wood. However it is controversial whether the human activities are to blame for the global warming due to the emission of carbon dioxide. Carbon dioxide represents a very small percentage of the gases in the atmosphere (only 0.032%) and it is immediately absorbed by the vegetation, in all kind of environments, without any possibility of accumulation anywhere. The population that consumes CO2 (plants) is much bigger than the population that is emitting this gas (men and machines). Besides, the energy used in the process of removing CO2 from the atmosphere is endless: the solar energy. Mainly, the determining factors of the climate change are basically the energy of the sun or insulation and the speed of the rotation and translation of the Earth. Is Global Warming Real? Although the whole world is aware of the global warming issue and is afraid of what its impacts could do in the coming future, there are those who still believe global warming is a fiction and does not exist. The global warming debate in many parts of the earth is ranging more than before. One of the world’s best known climate change sceptic John Coleman, who co-founded the Weather Channel, has claimed that the theory of man-made climate change is no longer scientifically credible and rising global temperatures points to a natural phenomenon within a developing eco-system. According to Coleman, global warming has become a political and environment agenda item, but the science is not valid, and efforts to prove the theory that carbon dioxide is a significant greenhouse gas and pollutant causing significant warming or weather effects have failed. â€Å"The impact of humans on climate is not  catastrophic†, he says, â€Å"our planet is not in peril. It is all a scam, the result of bad science.† (John Coleman, 2014) On the other hand, former Vice President Al Gore, who had an award-winning documentary film in 2006 called An Inconvenient Truth which discusses the present and future effects of global warming, continues his fight against global warming and says that â€Å"we simply cannot continue to use the atmosphere as an open sewer for dirty and dangerous global warming pollution that endangers our health and makes storms, floods, mudslides and droughts much more dangerous and threatening.† (Al Gore, 2014). He supports the adoption of renewable energy such as solar and wind power and enforces bold new standards for fuel economy. CONCLUSION Whether global warming is a consequence of human activities or other phenomena (or both), it is real and climate change is happening. We should all do our part to help alter the future path of human-induced warming by adopting a more responsible lifestyle to reduce the amount of CO2 emission by reducing waste, recycling, switching to green power (wind and solar), planting trees, carpooling and so on. Also, less energy use means less dependence on the fossil fuels that create greenhouse gases and contribute to global warming. REFERENCES Climate Change. – Wikipedia, the free encyclopedia. Retrieved from https://en.wikipedia.org/wiki/Climate_change (Online; accessed 14-November-2014). Global Warming. – Wikipedia, the free encyclopedia. Retrieved from https://en.wikipedia.org/wiki/Global_warming (Online; accessed 14-November-2014). Global Warming. – NOAA National Climatic Data Center. Retrieved from http://www.ncdc.noaa.gov/monitoring-references/faq/global-warming.php (Online; accessed 14-November-2014). Coleman, J. (2014) Global Warming Greatest Scam in History! – Global Warming And The Climate. Retrieved from http://www.global-warming-and-the-climate.com/ arguments-against-global-warming.htm Gore, A. (June 18, 2014) The Turning Point: New Hope for the Climate. – Rolling Stone. Retrieved from http://www.rollingstone.com/politics/news/ the-turning-point-new-hope-for-the- climate-20140618 Statement by Former Vice President Gore on Australia’s climate policy. July 17, 2014. Retrieved from blog.algore.com (Online; accessed 19-November-2014).

The current Economic Situation in SA, India and Germany

Since the successful hosting of the roll cup football 2010 AS has sustained GAFF at Just under 20%. IN has been spending a large portion of its GAP on GAFF and this increased even more in 2004 to 2007 when they saw an increase from approximately 25% to 33%. GE has seen a gradual decline in GAFF however we expect to see this continue at the same rate as Germany continues to invest in renewable energy technology and infrastructure. Extrapolating IN and AS GAFF to 2020 we expect to see much the same ratio and a moving average extrapolation through to 2020 has been used for both countries.Economic theory states that gross savings, made up from the surplus between income and expenditure of households, business and government, is used to finance GAFF. The assumption is that these savings are stored in financial institutions and these institutions lend the savings to entrepreneurs and businesses in order for them to invest in capital. We can see from Fig. A. 9 in Appendix A that the correla tion between the proportion spent by the 3 countries on GAFF is proportional to the countries gross savings.AS savings as a percentage of GAP is extremely low in comparison to both GE and IN. Although AS can lend money in order to fund GAFF which it does this is not an ideal situation. It is essential for a country to consistently spend on GAFF as it is the capital which grows and sustains any economy. The culture in AS is not to save and in order to consistently fund capital it is essential for the AS public to start to save. 12 Fig. A. II in Appendix A indicates human development index (HID) for AS, IN and GE for the period 1995 to 2020.The HID is a measurement of life expectancy, educational attainment and income. The value expressed by HID is a value between O and 1 . The human development index is a measure of equality within a country and a value of 1 would mean perfect equality ND O would mean perfect inequality. As expected GE the developed country has the highest HID rating with an average of over 0. 9 since 2005. AS comes in second place with an average of 6. 19% from 2005 to 2014. AS has one of the world's most progressive constitutions and is based on the belief that AS belongs to all who live in it.AS is not without its equality challenges and unemployment, declining education system (WEFT global competitiveness report rates AS education as 46th out of 148 countries), high crime rates (rape in AS is the highest in the world), and widening gap twine rich and poor. IN score worst on the HID as a result of a large population many of whom live in abject poverty. It is however nice to see that things in IN are changing and they have come a long way since 1995 when they scored only 0. 4 HID and in 2014 they scored 0. 56 Just less than AS.Extrapolating GE HID to 2020 we SE no reason for any change and expect to see consistent value Just above 0. 9 for the whole period 2014 to 2020. Extrapolating AS HID to 2020 we expect the effects of a less competitive education system coupled with increasing unemployment, growing crime ate and widening of the gap between rich and poor to stagnate any improvements and predict a possible decrease in the HID for AS over the period 2014 to 2020. Inequality in IN is still a problem and we predict moderate improvement in HID but until there is a fundamental change especially in inequality between gender IN is unlikely to exceed 0. On the HID scale before 2020. 13 3. Conclusion 14 4. References 15 Appendix A 1 1. Introduction This assignment presents a range of economic variables from 1995 to present day and then extrapolates these variables to 2020. The economic variables are presented n three countries: South Africa (AS) India (IN) Germany (GE). The assignment explains trends and reasons for changes including the interrelationships between the economic variables, the countries presented, global economic forces and other socio-political economic factors within the specific country being described.AS is an upper-middle-income, emerging market economy and has been so for over 50 years. AS has an abundant supply of natural resources and a diversified well developed economy which boasts a service sector which accounts for more than 65% of total economic activity. AS has shown impressive GAP growth since it was welcomed back onto the international stage after spending many years in economic isolation from the rest of the world. AS has a functional infrastructure which falls short predominantly in the shortage of energy which has contributed to slowing economic growth.Eskimo, the AS parental power supplier, is building two new MAMMA coal fired power stations (Medium and Sessile) which were due to come on line in 2012 and when finally completed should relieve the energy crisis AS has faced since 2007. AS faces a number of other challenges which will be discussed in the odd of this assignment. If AS is to escape the middle income trap it needs to realism a GAP growth in excess of 6% for over 20 years. IN has a long history which includes British colonization.After years of passive civil disobedience and resistance to British rule, by the likes of Mahatma Ghanaian, IN finally got its independence in 1947. Economic reforms in 1991 helped IN to average over 6% growth from 1998 to 2014. India has a rapidly developing economy that is well diversified specializing in the IT and business service sectors capitalizing on a highly educated and skilled workforce. IN has many challenges including a large population many of whom live in abject poverty, government corruption and pollution which has caused extensive damage to the environment.GE in terms of purchasing power parity (POP) is the 5th largest economy in the world and boasts the largest economy in Europe. GE is considered a upper-income developed economy and is renowned as a leading machinery, car, chemical and technology exporter in the world market. GE has a highly productive, highly skilled, technical and well educa ted population which enables them to remain competitive on the European and global stage. In 1999 GE and 10 other European countries formed the European Union (EX.) and they introduced a common currency called the Euro.GE has committed to decommission all its Nuclear power stations, which account for 25% of Gee's power supply, by 2022. GE is investing extensively in renewable resources and is emerging as a world leader in this sector. 2. Discussion Inflation 2. 1 There are many causes of inflation, we take a look at a few of the causes in the context of the countries in the spotlight: Demand factors Rise in production costs Exchange rate fluctuations The crude oil price The cost of labor. Fig. A. In Appendix A indicates the average annual inflation for AS, IN and GE from 1995 to present and extrapolated to 2020. From Fig. A. L, it can be noted that GE a developed country has a very stable inflation rate that is consistently low averaging 1. 56% for the period 1995 to 2014. The preva iling reason for this is that GE has a very strong stable currency and is not exposed to exchange rate fluctuations. GE also has a very low population growth with an average year on year of -0. 4% for the period 1996 to 2014 which means any increase in demand for goods from GE has to come room the global market and not within its own borders. The rise in production costs as a result of high labor costs in GE possibly accounts for the majority of the inflation. GE has to large extent countered inflation by mechanizing production and reducing labor inputs coupled with the fact they have a highly skilled, educated and productive workforce which counters the high cost of labor in GE.Germany inflation is extrapolated, using a moving average calculation, to 2020. Consideration was given to GE stable inflationary history and the strict austerity measures the EX. has chosen since the global recession in 2008. In contrast to the stability of inflation in GE, inflation in AS and IN the two de veloping countries has been extremely volatile. Although AS and IN have positive population growth and a growing middle income population which feeds internal demand for goods and services the AS and IN economies remain heavily reliant on the rest of the world.On the 18 July 2014, Gill Markus the SARA governor hiked interest rates by 25 basis points in an attempt to curb inflation. The hike in interest rates should have an effect on reducing inflation as the cost of credit increases and consumers tighten their belts. The extrapolation of the AS inflation data to 2020 is a mathematical moving average keeping within the targets set by the SARA of 3-6%. There is a growing risk that inflation is likely to exceed the SARA targets.Due to pressure in terms of slow economic growth SARA is unlikely to hike interest rates by too much as this would stifle economic growth. Business in AS is coming under increased pressure from Labor. MIMIC and NINJA Strikes in the Platinum belt coupled with the current NASSAU strike will inevitably increase the cost of labor which in turn will have a knock on effect on increasing inflation. The NC government are considering alternate employment development incentives which if successful will help reduce the cost of labor, accelerate economic growth and reduce inflation.AS is extremely exposed to crude oil price hikes and exchange rate fluctuations which cause the cost of imported goods to raise with a rise in exchange rates. SOLO has the potential to provide a buffer to the oil price and effects of exchange rate on landed oil price; however they operate on an import parity pricing model. The competitions commission has handed down heavy nines on SOLO and the regulation of the SOLO import parity pricing model is highly likely.This will roll out to the Plastics industry in AS and should have a positive effect on Job creation, lower input costs and effectively lower inflation. 2. 2 Economic Growth Fig. A. 2 in Appendix A indicates the gross domestic product (GAP) of three countries AS, IN and GE for the period 1995 to 2020. On the primary vertical axis is billions of international dollars the measure using purchasing power parity (POP) theory which enables us to negate the effects of exchange rates between countries and compare GAP in real terms.The GAP POP measure is interesting in that it shows the relative size of the 3 economies to each other. We can see Just how small AS is in terms of the bigger players and although this may be disconcerting it is important to remember that AS has the 23 largest economy in the world. On the secondary vertical axis (Fig. A. 2 in Appendix A) we can see the percentage change year on year in GAP. Between 1995 and 2007 AS and IN experienced 3. 6% and 6. 9% growth year on year. GE was not as successful with average growth of only 1. 6% over the same period.Then came he great recession or economic meltdown of 2008/2009 where all 3 countries saw a downturn in GAP especially AS and GE who registered a negative GAP growth in 2009. Inn's GAP growth only dipped to Just over 5% in 2009 showing a resilient economy not overly exposed to the rest of the world. In the recovery phase all three countries recovered well however a second dip in 2011 to 2012 hit IN the hardest and IN dipped to Just under 4% GAP growth in 2012. AS hosted the 2010 FIFE world cup soccer which created large scale infrastructural spending by the government through the recession period helping to boost the AS economy.Extrapolating GAP growth into 2020 for IN there is likely to be sustained albeit slower GAP growth. IN has a burgeoning youth who are very well educated, are willing to work for very little and can converse extremely well in English giving IN a competitive advantage on the global market in the business service sector. IN is however coming under a lot of pressure from the Philippines who are competing in similar global markets in the business service and IT support sectors. IN needs to loo k to new industries in order to sustain its GAP growth.Extrapolating GE GAP growth to 2020 we note that GE has a eclipsing population however with their commitment to renewable resource energy technology and the growing emphasis in the world on green initiatives it is likely that Germany will capitalist on this advantage in order to sustain very moderate GAP growth. GE has a responsibility to other EX. countries and the poor performance of other EX. players could curb economic growth in GE. AS has a lot of challenges it needs to overcome in order to achieve sustained growth and escape the middle- income economy trap that has been its nemesis for the last 50 years.AS needs to address its labor issues and overcome the growing gap between rich and poor. The world economic forum competitiveness report indicates a host of positive factors which AS can build on however there are a number of shortcomings and AS needs to address these if it wants to continue to grow its economy. Extrapolati ng AS growth to 2020, it is difficult to foresee the current AS government under its leadership making any major inroads to solving the macro economic problems that will allow AS to realism larger GAP growth.Coupled to this the fact that AS is highly dependent on China and Europe for economic growth, the outlook for AS is moderate and we could e stagnation or even a decline in GAP over the next few years. Extrapolating IN growth to 2020, we perceive continued high GAP growth which exceeds 6% annually possibly coming under pressure if the world market does not accommodate this growth and as it comes under increasing pressure from global competition I. E. Philippines. 2. 3 Unemployment Fig. A. In Appendix A indicates the unemployment rates as a percentage of the economically active population in AS, IN and GE. IN has the smallest reported unemployment rate of the three countries with an average over the period 1995 to 2014 of Just under 4%. GE which also boasts a very low unemployment rate has an average of 8. 3% for the same period. AS has an alarmingly high unemployment rate with an average of Just over 24% over the same period. What is most disconcerting is in spite of the fact that AS has shown relatively consistent GAP growth the unemployment rate has continued to grow.The AS government (the NC) is part of a tripartite alliance with COATIS (trade union) and the ASAP (communist party). Until this alliance is broken it is unlikely AS will review labor regulations which would make it easier for business to employ more people. According to Eddie Rood, AS does not have an unemployment problem it has an employment problem. In other words it is too difficult for business to employ people and until regulations are focused more in favor of the employer than the employee the unemployment rate in AS is likely to consistently increase until 2020.In GE and IN there is likely to be very little change in the unemployment rate shown in the extrapolation which is a weighted moving average extrapolated through to 2020. 2. 4 Exchange Rates Fig. A. 4 in Appendix A indicates the average annual exchange rates for AS, IN and GE or the period 1995 to 2020. The primary vertical axis indicates IN Rupees exchange rate to the US dollar (USED) and the secondary vertical axis indicates Rand's and German Marks to the USED. GE which is a developed upper-income country has the least volatile exchange rate and has yielded an average of 0. 3 German Marks and Euro from 2002 to the USED. The IN Rupee and the AS rand, although depicted on different scales, have followed very similar trends indicating the volatility and dependence of developing countries currency on external global economic factors. The AS Rand is under a lot of pressure at present with regular service delivery protests and wildcat strikes like the platinum belt strike and the current NASSAU metal workers strikes followed by the ASIATIC strike due to commence on Thursday 24 July 2014.Coupled to this poor G AP growth, corruption, lack of service delivery and lackluster leadership from the ruling party is promoting uncertainty and possibly long term negative sentiment. Extrapolation of the exchange rate data for all 3 countries was carried out based on the MIFF projections on GAP in national currency vided by GAP in dollars. This extrapolation was double checked against factors that might influence the exchange rate in the form of Inflation, Gold Price, supply and demand for USED and SARA monetary policy.In the case of AS the possibility that AS becomes less attractive to foreign investors and the inflow of USED reduces is highly likely. The net effect of fewer dollars inflow into AS can result in a weaker rand. The SARA has a very strict fiscal policy which pegs the targeted inflation rate in AS at 3 to 6%. Under the watchful eye of Gill Markus the SARA attempts to curb inflation by easing the Report Rate which is the rate at which the SARA lends money to other banks.By raising the Rep ort rate the cost of credit is increased which in turn should reduce demand and with less money there should be less demand for goods forcing the price of goods to come down subsequently reducing Inflation. If inflation is lowered then the risk of AS goods becoming too expensive, (as a result of inflation increasing production costs), on the export market is reduced. AS is the world's 5th largest Gold producer and gold production and exports account for a large percentage of the inflow of SAID. A change in the price of gold has a large effect on the inflow of dollars which can subsequently lead to a depreciation of the rand.Although the USED is one of the most sought after and used currencies in the world fluctuations in the USED with specific reference to the appreciation of the USED can mean the Rand will depreciate. IN is subject to the same forces as AS with respect to exchange rates and the sum of these forces account for the volatility of the two currencies. A weaker exchange rate promotes local manufacturing due the opportunities to gain higher margins on the international markets. The volatility of the developing countries currencies counteracts a large portion of potential growth, due to relative uncertainty and high risk.It would be better if the exchange rate was consistently weak or even if it was consistently strong it would allow for less risk in investments into capital. Extrapolating GE exchange rate to 2020 is easier as the variability is small and we do not expect to see much change in exchange rates from GE as shown on Fig. AAA in Appendix A. In the case of AS and IN extrapolated to 2020 we expect to see a rise in exchange rates and a tapering off towards 2020. Both IN and AS will remain exposed to world economic forces and inflows and outflows of portfolio foreign investment. 2. 5 Interest Rates Fig. A. In Appendix A indicates the Interest rates for AS, IN and GE for the period 1997 to 2020. Interest rate refers to a rate which is charged f or the use of or loan of money. The interest rate which is depicted in Fig. A. 5 in Appendix A refers to the rate at which the reserve bank lends to other banks. The interest rate is one of a number of tools used by the reserve banks (central banks) to tighten or relax the monetary policy. The general trend for all three countries is a relaxing of their respective monetary policy in terms of interest rates as we see a big decline in interest rates for the period 1997 to 2014.The expectation with a lower interest rate is that credit is cheaper and money supply would grow quickly driving economic growth as the demand for goods and services increases and producers scramble to catch up with demand. Fig. A. L in Appendix A indicates that all three countries have been experiencing positive GAP growth barring the 2008/2009 world economic recession. The effect of pressure on supply of goods and services tends to drive the price up as odds and services become scarcer and consumers are willin g to pay more this drives inflation up.The SARA has set targets of 3 to 6% on Inflation as it is a proportional measure of the effects of hiking or lowering interest rates. The 2008/2009 recession has caused a slower demand for credit and lower interest rates from all 3 countries especially GE with interest rates of well below 1% is an attempt by the Deutsche Bundestag to fuel the GE economy. In AS, the SARA has raised interest rates (tightened fiscal policy) in an attempt to curb inflation and keep it within the 3 to 6% targets. The data for the 3 countries is extrapolated to 2020 based on a moving average.In AS the Interest Rate trend from 2014 to 2020 is predicted upwards to as high as 9% in 2020 as AS inflation and exchange rates remain under pressure and the SARA attempts to control the inflation within its targets. In IN the interest rates are predicted to continue to reduce to 2020 to stimulate the IN economy to grow. The pressure on food sources in India could drive Inflatio n upwards causing an increase in the interest rates. Similarly in GE the interest rates are expected to remain low with a gradual rise from 2014 to 2020.Contrary to the economic recovery plan adopted in USA (economic stimulus plan), GE and its EX. partners have opted for a more conservative approach and austerity measures have caused a slowdown in private spending. In order to fuel the economy and provide cheap credit the interest rates are extremely low yet GAP growth remains slow. Until there is an upturn in the economy interest rates in GE are likely to remain very low from 2014 to 2020. 2. 6 Trade Balance and Current Account Balance Fig. A. 6. 1 in Appendix A indicates the trade balance in AS, IN and GE for the period 995 to 2020.The trade balance is calculated by subtracting total import payments from total export earnings including gold and non-gold products. AS and GE are shown in USED on the secondary vertical axis and IN is shown on the primary axis. Trade balances for all 3 countries follow similar trends to the current account balance. The platinum strikes which lasted 5 months will have a negative effect on the balance of trade and subsequently the current account balance. Fig. A. 6. 2 in Appendix A indicates the current account balance in AS, IN and GE for the period 1995 to 2020.The current account includes trade balance and service, income and transfer receipts less service, income and transfer payments. Fig. A. 6. 2 primary vertical axis indicates the IN and AS current account balance in USED. The secondary vertical axis indicates the GE current account balance in USED. We can see that up until 2001 GE was running a marginal current account deficit and how they have turned this deficit into a large current account surplus. Germany is a leading technology supplier and has developed strong trade relations with China and the rest of the world.On the back of the Chinese and world economic growth the Germans have been able to capitalist and show a g rowing current account surplus. IN and AS who were pretty much break even on current account balance up until 2004 have embarked on development strategies. As can be seen in Fig. A. 6. 2 in Appendix A, IN has been a lot more aggressive in borrowing money and growing the current account deficit than AS. AS is often accused by world investors for not borrowing enough to boost development and economic growth.Extrapolating the data on to 2020 1 have taken the MIFF projections to 2018 and extrapolated to 2020 using a moving average calculation. AS would be expected to grow the current account deficit as they spend more on infrastructure in an attempt to stimulate the economy. AS imports a large variety of goods and services and exports predominantly natural resources. It would be wise for AS to develop industry that can add value to the natural resources in order to add value and ultimately increase its export value whilst simultaneously decreasing the need to import. . 7 Money Supply an d Credit Growth Money growth is shown on the primary vertical axis and credit growth as a percentage of GAP is shown on the secondary vertical axis for all three countries. The creation of money is largely dependent on bank deposits which when this money is leant out by the bank triggers the money creating process. The balance of payments and government finances are both major contributing factors to the creation of money. Gross savings, credit growth are also triggers for money growth as they contribute to the amount of bank deposits.Fig. A. 7. 1 in Appendix indicates MM annual money growth and credit growth as a percentage of GAP growth. Although there is considerable offset between the 3 countries the money growth trends year on year between all three countries are very similar. In the years preceding 2008 AS and IN showed consistent annual MM money growth of above 10%. In the global recession of 2008/2009 AS was hardest hit and dropped down to a money growth of just over 2% but has recovered to Just over 5% and is expected to be sluggish in money growth extrapolating to 2020.IN managed to remain less effected by the global recession and has retained annual money MM growth in excess of 10%. IN is expected to show more conservative money growth figures to 2020 as the world economy remains sluggish. GE has shown a reduced money MM growth and is even wowing negative money growth since 2009. The trend extrapolated to 2020 is expected to remain much the same. In AS credit growth as a percentage of GAP is extremely high at an average of over 185% of GAP since 2004. In comparison to GE (129%) and IN (67%) for the same period.The growth in credit does not result in bank deposits and subsequently an increase in credit growth has a negative impact on money growth. 2. 8 Budget Deficit and Government Debt Fig. A. 8 in Appendix A indicates the budget deficit and government debt as a percentage of GAP for AS, IN and GE for the period 1995 to 2020. The budget deficit for all three countries is shown on the primary vertical axis and the government debt for all 3 countries is shown on the secondary vertical axis. As a general rule of thumb the budget deficit should not exceed 3%.Since the late sass's AS has managed to consistently achieve budget deficits lower than 3% and in 2006 even managed to achieve a budget surplus. Since 2007 the budget deficit for AS and IN has increased with the AS budget consistently above the illusive 3% value. Since the 2008 and 2009 recession the AS government has, in similar fashion to the USA government's tumulus plan, understandably been spending more in an attempt to fuel the economy and stimulate much needed economic growth. Similar to AS IN has increased government debt and is slowly bringing their budget deficit down from deficit in excess of 10% to below 9% and trending downwards.GE has decreased its government debt as a percentage of GAP and has firm control of its budget deficit showing consistent budget surpluse s since 2012. Extrapolating the budget deficits to 2020 we can expect GE to remain in a surplus situation with AS stabilizing and remaining at Just above 4% with a possibility of returning to below 3% budget deficit. IN is expected to perform well and reduce their budget deficit to below 7% consistently to 2020. In terms of Government debt, GE is expected to consistently reduce government debt in line with the conservative economic plan and in line with EX. guidelines.AS is expected to increase government debt up to 2020 as it needs to stimulate economic growth through government spending. IN will continue to reduce government debt to 2020 as indicated in Fig. A. 8 in Appendix A. 2. 9 Gross Fixed Capital Formation the AS public to start to save. The Gross savings for all three countries has been extrapolated based on a moving average. . 10 Human Development Index Fig. A. II in Appendix A indicates human development index (HID) for AS, IN and GE for the period 1995 to 2020.The HID is a measurement of life expectancy, educational attainment and income. The value expressed by HID is a value between O and 1 . The human development index is a measure of equality within a country and a value of 1 would mean perfect equality and O would mean perfect inequality. As expected GE the developed country has the highest HID rating with an average of over 0. 9 since 2005. AS comes in second place with an average of 6. 19% from 2005 to 2014. AS has nee of the world's most progressive constitutions and is based on the belief that AS belongs to all who live in it.AS is not without its equality challenges and unemployment, declining education system (WEFT global competitiveness report rates AS education as 46th out of 148 countries), high crime rates (rape in AS is the highest in the world), and widening gap between rich and poor. IN score worst on the HID as a result of a large population many of whom live in abject poverty. It is however nice to see that things in IN are chang ing and they have come a long way since 1995 when they scored only 0. HID and in 2014 they scored 0. 56 Just less than AS.Extrapolating GE HID to 2020 we SE no reason for any change and expect to see consistent value Just above 0. 9 for the whole period 2014 to 2020. Extrapolating AS HID to 2020 we expect the effects of a less competitive education system coupled with increasing unemployment, growing crime rate and widening of the gap between rich and poor to stagnate any improvements and predict a possible decrease in the HID for AS over the period 2014 to 2020. Inequality in IN is still a problem and we predict moderate improvement in HID but until there is a fundamental change especially in