Ricks New Job Case Study - 2718 Words

TASK 1: Individually read the case study provided and identify the issues concerning the different learning styles and its implication on the overall training process. Learning styles refer to the characteristic strengths and preferences in the ways people take in and process information. Due to genetics and upbringing, individuals have different ways of perceiving and processing information. As educators, it is important to recognize these differences to accommodate all the learners. The first step in implementing learning style-based instruction is diagnosing the individual learning styles of each student. Some people are more visual, some auditory, while others kinesthetic or environmental. They all process information in a†¦show more content†¦How much better you are with your big initials behind your name? You are still an outsider here, buster, and do not forget it† basically demonstrates her fear of incompetence. High levels of anxiety that comes from fear, cause the person to withdraw from or actively resist the learning. Rosie is fifty years old and she never went to college, so her accounting methods are quite primitive (all paper and pencil). She worked for many years in PPP, knows a lot about her work, company and many other things, and she thought that by bringing computer into the office, Rick is trying to demonstrate that he knows more about how to do their job. Feeling that her competence is under attack, Rosie developed a defensive behavior. Her quick response was to show Rick that he is no one here. By showing where he stands, she was trying to degrad e him to feel more protected. And, later, the idea that Rick didn’t inform anyone about bringing computer into the office, and that he is going to discuss it later with Val, developed a fear of lost influence. Both, Rosie with her comment: â€Å"Good, talk to Val, but don’t think he calls all the shots here†, and Walter’s: â€Å"That’s not how it’s done here, son. Maybe you are spending too much time listening to what Val says. He isn’t really the one to talk to about these kinds of issues. Next time you just ask old Uncle Walter† tried to demonstrate that they have to be taken into account as well, when planning something. RickShow MoreRelatedCase from Chapter 3: Rick’s New Job1445 Words   |  6 PagesCase From Chapter 3: Rick’s New Job 1) Why do you think Rick was let go? How does reinforcement theory apply to this situation? Answer: After reading the case study there are certain reasons which demonstrated that Rick was not a let go. Ricks was a fresher and lacks experience. He joined the company because he knew that Mr. Peterson was into his work so far. He invested time in getting to know the plant and operations, meeting all employees and familiarizing himself with the problems inRead MoreAdam Aircraft1729 Words   |  7 Pagesand research by various means. His passion for flying was fueled by his father that served in the US Air Force. Pilots and computer engineers socially surrounded Rick, which gave him an insight to knowing what the customer needed. According to the case, Rick described himself as a raging incrementalist in which he preferred to innovate one-step at a time. That was the drive behind his semi-conservative approach to the market because he believed the chances of failure could have dangerous effectsRead MoreUnmarried With Children1824 Words   |  8 PagesIn the article entitled Unmarried with Children the authors present the findings of a study which they spent years interviewing 162 low-income mothers in eight poor neighborhoods in Philadelphia and its suburb, Camden, New Jersey. (Edin and Kefalas, 34). We spent five years chatting over kitchen tables and on front steps, giving mothers like Jen the opportunity to speak to the question so many affluent Americans ask about them: Why do they have children while still young and unmarried when theyRead MoreEnvironmental History Of The Oceans And Seas1692 Words   |  7 Pagespopulations had little to no effect on marine ecosystems because of the â€Å"ecological Indian† myth, scholars have begun to highlight aboriginal societies’ effects on marine ecosystems, creating the â€Å"shifting baseline syndrome.† In Jon Erlandson and Torben Rick’s Human Impacts on Ancient Marine Ecosystems, a collaboration of scholars examine early aboriginal societies’ use of marine ecosystems beginning abo ut twenty-thousand years ago. Through a compilation of scholars, Human Impacts on Ancient Marine EcosystemsRead MoreConsolidated Life Case Study2925 Words   |  12 Pages(Northouse, 2009) In the present case (Consolidated Life), Rick Belkner (V.P), Jack Greenly (Senior V.P) and Mike Wilson (Supervisor) all exhibit different management style and approaches, which quite clearly differentiates them not only as a manager but also as individuals with different conditioning and thought process (Zastrow, 2008). The case study clearly establishes Rick as a hands-off leader, one who allows the members to make the decisions. As seen in the case study he doesn’t really bother anyone

The Glass Ceiling and the Wage Gap Essay - 1984 Words

Women face many obstacles as they climb their career’s hierarchy and for many different reasons their wage is comparably less than that of males. After the movements toward equality in the workplace, many think that sex discrimination isn’t present anymore. However, many still believe that the glass ceiling hasn’t shattered and still possesses a barrier for many women in the labor force. The glass ceiling and the wage gap exist for various reasons but, like many other women leaders, women can break the glass and abolish the gap. INTRODUCTION The glass ceiling is defined as the â€Å"unseen, yet unbreachable barrier that keeps†¦ women from rising to the upper rungs of the corporate ladder, regardless of their qualifications or achievements.†Ã¢â‚¬ ¦show more content†¦In the law field, women â€Å"attorneys earn 80.5 cents for every dollar earned by their male counterparts.† In the medical field, â€Å"female physicians and surgeons earn 64.4 cents on the dollar.† In retail, females earn â€Å"70.6 cents for every dollar earned by† male counterparts. Females in full-time managerial positions â€Å"earn 81 cents for every dollar earned by their male manager peers† and â€Å"female truck drivers earn†¦ 76.4 cents on the dollar.† The remaining money from the female-male wage gap â€Å"may attribute to discriminatory practices.† The differences in income exist but â€Å"women work close to two-thirds of the world’s work hours [and] earn only one-tenth of t he world’s income† (Graham 148). Equality â€Å"for both sexes is still somewhat elusive at home† (146). In the United States, â€Å"women make up more than 50 percent of the population† but there are only â€Å"20 women in the Senate [out of 100 Senators] and 79 women in the House of Representatives [out of 435 Representatives]† with no female President and only one â€Å"vice presidential candidate, Geraldine Ferraro, in 1984† (146-147). ThoughShow MoreRelatedGender Inequality in Workforce904 Words   |  4 Pagesand Sharp 2005). But still gender inequality has been ongoing debate in the workforce for many years (Lannin 2009). Many people argue that there are inequality in earnings and glass ceiling (ibid.). Therefore, this essay will analyze the gender inequality in the Australian workforce and it will also suggest solutions. Wage Discrimination There is no doubt that income inequality has increased in the last two decades (Hiau 2005). According to the Australian Bureau of Statistics (ABS, Cat 6203.0) showedRead MoreWomen Workers In Society Have Been And Still Are Deemed1636 Words   |  7 Pagesmen or experience the ‘glass ceiling’ effect, women are forced into education or domestic responsibility and are seen to pursue in feminized or feminine sectors of the workforce (Cool, J, 2010). Thus saying, I argue this thinking is validated thorough the practices of gender inequality, most importantly thorough the existence of the gender wage gap. The gender wage gap is defined as â€Å"the gap between the median wages for men and women. The gap between men s and women’s wages exists in nearly everyRead MoreGender Gap Between The Workforce And Affects A Large Group Of Individuals942 Words   |  4 Pages Historically, discussions concerning wage gaps have been highly controversial. However, many agree that t he underlying issue exists within the workforce and affects a large group of individuals. Without weighing in factors such as visible minorities, race, ethnic background, and familial status, the wage gap exists among full-time workers where women are paid 79% of their counterpart. Therefore, this topic is important to employers and employees. Firstly, all employees deserve equal benefits forRead MoreThe Gender Differences Of The United States Work Force1721 Words   |  7 Pages21st century, yet it’s the ugly truth. A gender gap is created due to differences in authority, pay, and promotion. Research shows us that economic variations exist and, through past cases we see that even though it has been twenty-five years that Title VII has passed; segregation ceases to exist. Coined by Hymowitz and Schellhardt in the Wall Street Journal more than twenty years ago, the barriers women face in the workplace earned the term â€Å"glass ceiling,† continues to exist in U.S. la bor. It is importantRead MoreGender Inequality Within The Workplace1379 Words   |  6 Pageshormonal differences. There is a natural difference also in the relative physical strengths of the sexes. In the workplace Income disparities linked to job stratification Wage discrimination exists when workers are equally qualified and perform the same work but one group of workers is paid more than another. Historically, wage discrimination has favored men over similarly qualified women. Income disparity between genders stems from processes that determine the quality of jobs and earnings associatedRead MoreEssay on Gender Inequality in the Workplace1247 Words   |  5 Pagescountries where â€Å"machismo† is part of the culture. Women and men should be given the same kind of job without any discriminatory distinction, and the same average wage for the same comparable job; because even though it complies with the civil right of every individual male or female, it gives place to more development and shrinks even less the wage gap in society. Since the beginning of history, women have been known as the â€Å"weak gender†. This misconception had shaped the model for a system dominated byRead MoreGender Wage Gap in America1565 Words   |  7 PagesThe Gender Wage Gap in America The gender wage gap has been around since women began having jobs and careers. Though in the beginning the gender wage gap was purely do to discrimination by social stereotypes, now it has become more complicated than that. The issue today has evolved into a complex issue which combines our American culture with business economics. As a result, some are skeptical of the issue and some are very adamant in their beliefs. The issue encompasses not only gender stereo typesRead MoreWomen’s Income Inequality and The American Dream Essay1358 Words   |  6 Pageswhat is known as the â€Å"Glass Ceiling†. Women do not get promoted in the work place and aren’t getting equal pay as men. This also leads to wag gap between the men and women. Both create income inequality for women and affect their American Dream. There is a long history of women having to deal with the â€Å"Glass Ceiling†. Over time woman have made progress but more progress is needed to make thing s equal. Women suffer from income inequality because of the â€Å"Glass Ceiling† and wag gap, thus going againstRead MoreGender Inequality During World War II1686 Words   |  7 Pagesthe military. Women took over the civilian jobs but earned less than men for the same work. Unions were formed because of worrisome men who thought women in the labor field would replace them because of the lower earnings received by women or their wage would be lowered (â€Å"Equal Pay Act of 1963†, 2015). Therefore, the Equal Pay Act of 1963 was signed by President John F. Kennedy on June 10, 1963, to keep the business community at peace. In regards to the Equal Pay Act, The U.S. Equal Employment OpportunityRead MoreThe Glass Ceiling And Gender Gap Between Men And Women771 Words   |  4 Pagesare able to outperform their competitors on every measure of profitability and growth (Hoobler et al. 2016; Cook Glass, 2014). However, the overall scenario is not encouraging, and the women are still widely struggling to represent themselves in corporate leadership. Less than 5% of the 1,000 major U.S. organizations have female CEOs (Forbes.com, 2016). Moreover, the glass ceiling (a barrier that restricts women from moving up in the corporate hierarchy to the management and executive roles) and

The Role of Fdi in India Free Essays

string(60) " be able to sell multiple products under the same brand, e\." FDI Policy in India FDI as defined in Dictionary of Economics (Graham Bannock et. al) is investment in a foreign country through the acquisition of a local company or the establishment there of an operation on a new (Greenfield) site. To put in simple words, FDI refers to capital inflows from abroad that is invested in or to enhance the production capacity of the economy. We will write a custom essay sample on The Role of Fdi in India or any similar topic only for you Order Now [3] Foreign Investment in India is governed by the FDI policy announced by the Government of India and the provision of the Foreign Exchange Management Act (FEMA) 1999. The Reserve Bank of India (‘RBI’) in this regard had issued a notification,[4] which contains the Foreign Exchange Management (Transfer or issue of security by a person resident outside India) Regulations, 2000. This notification has been amended from time to time. The Ministry of Commerce and Industry, Government of India is the nodal agency for motoring and reviewing the FDI policy on continued basis and changes in sectoral policy/ sectoral equity cap. The FDI policy is notified through Press Notes by the Secretariat for Industrial Assistance (SIA), Department of Industrial Policy and Promotion (DIPP). The foreign investors are free to invest in India, except few sectors/activities, where prior approval from the RBI or Foreign Investment Promotion Board (‘FIPB’) would be required. FDI Policy with Regard to Retailing in India It will be prudent to look into Press Note 4 of 2006 issued by DIPP and consolidated FDI Policy issued in October 2010[5] which provide the sector specific guidelines for FDI with regard to the conduct of trading activities. a) FDI up to 100% for cash and carry wholesale trading and export trading allowed under the automatic route. ) FDI up to 51 % with prior Government approval (i. e. FIPB) for retail trade of ‘Single Brand’ products, subject to Press Note 3 (2006 Series)[6]. c) FDI is not permitted in Multi Brand Retailing in India. Entry Options For Foreign Players prior to FDI Policy Although prior to Jan 24, 2006, FDI was not authorised in retailing, most general players had been operating in the country. Some of entrance routes u sed by them have been discussed in sum as below:- 1. Franchise Agreements It is an easiest track to come in the Indian market. In franchising and commission agents’ services, FDI (unless otherwise prohibited) is allowed with the approval of the Reserve Bank of India (RBI) under the Foreign Exchange Management Act. This is a most usual mode for entrance of quick food bondage opposite a world. Apart from quick food bondage identical to Pizza Hut, players such as Lacoste, Mango, Nike as good as Marks as good as Spencer, have entered Indian marketplace by this route. 2. Cash And Carry Wholesale Trading 00% FDI is allowed in wholesale trading which involves building of a large distribution infrastructure to assist local manufacturers. [7] The wholesaler deals only with smaller retailers and not Consumers. Metro AG of Germany was the first significant global player to enter India through this route. 3. Strategic Licensing Agreements Some foreign brands give exclusive licences and distribution rights to Indian companies. Through these rights, Indian compan ies can either sell it through their own stores, or enter into shop-in-shop arrangements or distribute the brands to franchisees. Mango, the Spanish apparel brand has entered India through this route with an agreement with Piramyd, Mumbai, SPAR entered into a similar agreement with Radhakrishna Foodlands Pvt. Ltd 4. Manufacturing and Wholly Owned Subsidiaries. The foreign brands such as Nike, Reebok, Adidas, etc. that have wholly-owned subsidiaries in manufacturing are treated as Indian companies and are, therefore, allowed to do retail. These companies have been authorised to sell products to Indian consumers by franchising, internal distributors, existent Indian retailers, own outlets, etc. For instance, Nike entered through an exclusive licensing agreement with Sierra Enterprises but now has a wholly owned subsidiary, Nike India Private Limited. FDI in Single Brand Retail The Government has not categorically defined the meaning of â€Å"Single Brand† anywhere neither in any of its circulars nor any notifications. In single-brand retail, FDI up to 51 per cent is allowed, subject to Foreign Investment Promotion Board (FIPB) approval and subject to the conditions mentioned in Press Note 3[8] that (a) only single brand products would be sold (i. . , retail of goods of multi-brand even if produced by the same manufacturer would not be allowed), (b) products should be sold under the same brand internationally, (c) single-brand product retail would only cover products which are branded during manufacturing and (d) any addition to product categories to be sold under â€Å"single-brand† would require fresh approval from the government. While the phrase ‘sing le brand’ has not been defined, it implies that foreign companies would be allowed to sell goods sold internationally under a ‘single brand’, viz. Reebok, Nokia, Adidas. Retailing of goods of multiple brands, even if such products were produced by the same manufacturer, would not be allowed. Going a step further, we examine the concept of ‘single brand’ and the associated conditions: FDI in ‘Single brand’ retail implies that a retail store with foreign investment can only sell one brand. For example, if Adidas were to obtain permission to retail its flagship brand in India, those retail outlets could only sell products under the Adidas brand and not the Reebok brand, for which separate permission is required. If granted permission, Adidas could sell products under the Reebok brand in separate outlets. what is a ‘brand’? Brands could be classified as products and multiple products, or could be manufacturer brands and own-label brands. Assume that a company owns two leading international brands in the footwear industry – say ‘A’ and ‘R’. If the corporate were to obtain permission to retail its brand in India with a local partner, it would need to specify which of the brands it would sell. A reading of the government release indicates that A and R would need separate approvals, separate legal entities, and may be even separate stores in which to operate in India. However, it should be noted that the retailers would be able to sell multiple products under the same brand, e. You read "The Role of Fdi in India" in category "Essay examples" g. , a product range under brand ‘A’ Further, it appears that the same joint venture partners could operate various brands, but under separate legal entities Now, taking an example of a large departmental grocery chain, prima facie it appears that it would not be able to enter India. These chains would, typically, source products and, thereafter, brand it under their private labels. Since the regulations require the products to be branded at the manufacturing stage, this model may not work. The regulations appear to discourage own-label products and appear to be tilted heavily towards the foreign manufacturer brands There is ambiguity in the interpretation of the term ‘single brand’. The existing policy does not clearly codify whether retailing of goods with sub-brands bunched under a major parent brand can be considered as single-brand retailing and, accordingly, eligible for 51 per cent FDI. Additionally, the question on whether co-branded goods (specifically branded as such at the time of manufacturing) would qualify as single brand retail trading remains unanswered. FDI in Multi Brand Retail The government has also not defined the term Multi Brand. FDI in Multi Brand retail implies that a retail store with a foreign investment can sell multiple brands under one roof. In July 2010, Department of Industrial Policy and Promotion (DIPP), Ministry of Commerce circulated a discussion paper[11] on allowing FDI in multi-brand retail. The paper doesn’t suggest any upper limit on FDI in multi-brand retail. If implemented, it would open the doors for global retail giants to enter and establish their footprints on the retail landscape of India. Opening up FDI in multi-brand retail will mean that global retailers including Wal-Mart, Carrefour and Tesco can open stores offering a range of household items and grocery directly to consumers in the same way as the ubiquitous ’kirana’ store. Foreign Investor’s Concern Regarding FDI Policy in India For those brands which adopt the franchising route as a matter of policy, the current FDI Policy will not make any difference. They would have preferred that the Government liberalize rules for maximizing their royalty and franchise fees. They must still rely on innovative structuring of franchise arrangements to maximize their returns. Consumer durable majors such as LG and Samsung, which have exclusive franchisee owned stores, are unlikely to shift from the preferred route right away. For those companies which choose to adopt the route of 51% partnership, they must tie up with a local partner. The key is finding a partner which is reliable and who can also teach a trick or two about the domestic market and the Indian consumer. Currently, the organized retail sector is dominated by the likes of large business groups which decided to diversify into retail to cash in on the boom in the sector – corporates such as Tata through its brand Westside, RPG Group through Foodworld, Pantaloon of the Raheja Group and Shopper’s Stop. Do foreign investors look to tie up with an existing retailer or look to others not necessarily in the business but looking to diversify, as many business groups are doing? An arrangement in the short to medium term may work wonders but what happens if the Government decides to further liberalize the regulations as it is currently contemplating? Will the foreign investor terminate the agreement with Indian partner and trade in market without him? Either way, the foreign investor must negotiate its joint venture agreements carefully, with an option for a buy-out of the Indian partner’s share if and when regulations so permit. They must also be aware of the regulation which states that once a foreign company enters into a technical or financial collaboration with an Indian partner, it cannot enter into another joint venture with another Indian company or set up its own subsidiary in the ‘same’ field’ without the first partner’s consent if the joint venture agreement does not provide for a ‘conflict of interest’ clause. In effect, it means that foreign brand owners must be extremely careful whom they choose as partners and the brand they introduce in India. The first brand could also be their last if they do not negotiate the strategic arrangement diligently. Concerns for the Government for only Partially Allowing FDI in Retail Sector A number of concerns were expressed with regard to partial opening of the retail sector for FDI. The Hon’ble Department Related Parliamentary Standing Committee on Commerce, in its 90th Report, on ‘Foreign and Domestic Investment in Retail Sector’, laid in the Lok Sabha and the Rajya Sabha on 8 June, 2009, had made an in-depth study on the subject and identified a number of issues related to FDI in the retail sector. These included: It would lead to unfair competition and ultimately result in large-scale exit of domestic retailers, especially the small family managed outlets, leading to large scale displacement of persons employed in the retail sector. Further, as the manufacturing sector has not been growing fast enough, the persons displaced from the retail sector would not be absorbed there. Another concern is that the Indian retail sector, particularly organized retail, is still under-developed and in a nascent stage and that, therefore, it is important that the domestic retail sector is allowed to grow and consolidate first, before opening this sector to foreign investors. Antagonists of FDI in retail sector oppose the same on various grounds, like, hat the entry of large global retailers such as Wal-Mart would kill local shops and millions of jobs, since the unorganized retail sector employs an enormous percentage of Indian population after the agriculture sector; secondly that the global retailers would conspire and exercise monopolistic power to raise prices and monopolistic (big buying) power to reduce the prices received by the suppliers; thirdly, it would lead to asymmetrical growth in cities, causing discontent and soci al tension elsewhere. Hence, both the consumers and the suppliers would lose, while the profit margins of such retail chains would go up. LIMITATIONS OF   THE PRESENT SETUP Infrastructure There has been a lack of investment in the logistics of the retail chain, leading to an inefficient market mechanism. Though India is the second largest producer of fruits and vegetables (about 180 million MT), it has a very limited integrated cold-chain infrastructure, with only 5386 stand-alone cold storages, having a total capacity of 23. 6 million MT. , 80% of this is used only for potatoes. The chain is highly fragmented and hence, perishable horticultural commodities find it difficult to link to distant markets, including overseas markets, round the year. Storage infrastructure is necessary for carrying over the agricultural produce from production periods to the rest of the year and to prevent distress sales. Lack of adequate storage facilities cause heavy losses to farmers in terms of wastage in quality and quantity of produce in general. Though FDI is permitted in cold-chain to the extent of 100%, through the automatic route, in the absence of FDI in retailing; FDI flow to the sector has not been significant. Intermediaries dominate the value chain Intermediaries often flout mandi norms and their pricing lacks transparency. Wholesale regulated markets, governed by State APMC Acts, have developed a monopolistic and non-transparent character. According to some reports, Indian farmers realize only 1/3rd of the total price paid by the final consumer, as against 2/3rd by farmers in nations with a higher share of organized retail. Improper Public Distribution System (â€Å"PDS†) There is a big question mark on the efficacy of the public procurement and PDS set-up and the bill on food subsidies is rising. In spite of such heavy subsidies, overall food based inflation has been a matter of great concern. The absence of a ‘farm-to-fork’ retail supply system has led to the ultimate customers paying a premium for shortages and a charge for wastages. No Global Reach The Micro Small Medium Enterprises (â€Å"MSME†) sector has also suffered due to lack of branding and lack of avenues to reach out to the vast world markets. While India has continued to provide emphasis on the development of MSME sector, the share of unorganised sector in overall manufacturing has declined from 34. % in 1999-2000 to 30. 3% in 2007-08[12]. This has largely been due to the inability of this sector to access latest technology and improve its marketing interface. Rationale behind Allowing FDI in Retail Sector FDI can be a powerful catalyst to spur competition in the retail industry, due to the current scenario of low competition and poor productivity. The policy of single-brand retail was adopt ed to allow Indian consumers access to foreign brands. Since Indians spend a lot of money shopping abroad, this policy enables them to spend the same money on the same goods in India. FDI in single-brand retailing was permitted in 2006, up to 51 per cent of ownership. Between then and May 2010, a total of 94 proposals have been received. Of these, 57 proposals have been approved. An FDI inflow of US$196. 46 million under the category of single brand retailing was received between April 2006 and September 2010, comprising 0. 16 per cent of the total FDI inflows during the period. Retail stocks rose by as much as 5%. Shares of Pantaloon Retail (India) Ltd ended 4. 84% up at Rs 441 on the Bombay Stock Exchange. Shares of Shopper’s Stop Ltd rose 2. 02% and Trent Ltd, 3. 19%. The exchange’s key index rose 173. 04 points, or 0. 99%, to 17,614. 48. But this is very less as compared to what it would have been had FDI upto 100% been allowed in India for single brand. The policy of allowing 100% FDI in single brand retail can benefit both the foreign retailer and the Indian partner – foreign players get local market knowledge, while Indian companies can access global best management practices, designs and technological knowhow. By partially opening this sector, the government was able to reduce the pressure from its trading partners in bilateral/ multilateral negotiations and could demonstrate India’s intentions in liberalising this sector in a phased manner. Permitting foreign investment in food-based retailing is likely to ensure adequate flow of capital into the country its productive use, in a manner likely to promote the welfare of all sections of society, particularly farmers and consumers. It would also help bring about improvements in farmer income agricultural growth and assist in lowering consumer prices inflation. Apart from this, by allowing FDI in retail trade, India will significantly flourish in terms of quality standards and consumer expectations, since the inflow of FDI in retail sector is bound to pull up the quality standards and cost-competitiveness of Indian producers in all the segments. It is therefore obvious that we should not only permit but encourage FDI in retail trade. Lastly, it is to be noted that the Indian Council of Research in International Economic Relations (ICRIER), a premier economic think tank of the country, which was appointed to look into the impact of BIG capital in the retail sector, has projected the worth of Indian retail sector to reach $496 billion by 2011-12 and ICRIER has also come to conclusion that investment of ‘big’ money (large corporates and FDI) in the retail sector would in the long run not harm interests of small, traditional, retailers. In light of the above, it can be safely concluded that allowing healthy FDI in the retail sector would not only lead to a substantial surge in the country’s GDP and overall economic development, but would inter alia also help in integrating the Indian retail market with that of the global retail market in addition to providing not just employment but a better paying employment, which the unorganized sector (kirana and other small time retailing shops) have undoubtedly failed to provide to the masses employed in them. Industrial organisations such as CII, FICCI, US-India Business Council (USIBC), the American Chamber of Commerce in India, The Retail Association of India (RAI) and Shopping Centers Association of India (a 44 member association of Indian multi-brand retailers and shopping malls) favour a phased approach toward liberalising FDI in multi-brand retailing, and most of them agree with considering a cap of 49-51 per cent to start with. The international retail players such as Walmart, Carrefour, Metro, IKEA, and TESCO share the same view and insist on a clear path towards 100 per cent opening up in near future. Large multinational retailers such as US-based Walmart, Germany’s Metro AG and Woolworths Ltd, the largest Australian retailer that operates in wholesale cash-and-carry ventures in India, have been demanding liberalisation of FDI rules on multi-brand retail for some time. Thus, as a matter of fact FDI in the buzzing Indian retail sector should not just be freely allowed but per contra should be significantly encouraged. Allowing FDI in multi brand retail can bring about Supply Chain Improvement, Investment in Technology, Manpower and Skill development,Tourism Development, Greater Sourcing From India, Upgradation in Agriculture, Efficient Small and Medium Scale Industries, Growth in market size and Benefits to government through greater GDP, tax income and employment generation. Prerequisites before allowing FDI in Multi Brand Retail and Lifting Cap of Single Brand Retail FDI in multi-brand retailing must be dealt cautiously as it has direct impact on a large chunk of population. Left alone foreign capital will seek ways through which it can only multiply itself, and unthinking application of capital for profit, given our peculiar socio-economic conditions, may spell doom and deepen the gap between the rich and the poor. Thus the proliferation of foreign capital into multi-brand retailing needs to be anchored in such a way that it results in a win-win situation for India. This can be done by integrating into the rules and regulations for FDI in multi-brand retailing certain inbuilt safety valves. For example FDI in multi –brand retailing can be allowed in a calibrated manner with social safeguards so that the effect of possible labour dislocation can be analyzed and policy fine tuned accordingly. To ensure that the foreign investors make a genuine contribution to the development of infrastructure and logistics, it can be stipulated that a percentage of FDI should be spent towards building up of back end infrastructure, logistics or agro processing units. Reconstituting the poverty stricken and stagnating rural sphere into a forward moving and prosperous rural sphere can be one of the justifications for introducing FDI in multi-brand retailing. To actualize this goal it can be stipulated that at least 50% of the jobs in the retail outlet should be reserved for rural youth and that a certain amount of farm produce be procured from the poor farmers. Similarly to develop our small and medium enterprise (SME), it can also be stipulated that a minimum percentage of manufactured products be sourced from the SME sector in India. PDS is still in many ways the life line of the people living below the poverty line. To ensure that the system is not weakened the government may reserve the right to procure a certain amount of food grains for replenishing the buffer. To protect the interest of small retailers the government may also put in place an exclusive regulatory framework. It will ensure that the retailing giants do resort to predatory pricing or acquire monopolistic tendencies. Besides, the government and RBI need to evolve suitable policies to enable the retailers in the unorganized sector to expand and improve their efficiencies. If Government is allowing FDI, it must do it in a calibrated fashion because it is politically sensitive and link it (with) up some caveat from creating some back-end infrastructure. Further, To take care of the concerns of the Government before allowing 100% FDI in Single Brand Retail and Multi- Brand Retail, the following recommendations are being proposed :- Preparation of a legal and regulatory framework and enforcement mechanism to ensure that large retailers are not able to dislocate small retailers by unfair means. Extension of institutional credit, at lower rates, by public sector banks, to help improve efficiencies of small retailers; undertaking of proactive programme for assisting small retailers to upgrade themselves. Enactment of a National Shopping Mall Regulation Act to regulate the fiscal and social aspects of the entire retail sector. Formulation of a Model Central Law regarding FDI of Retail Sector Important highlights of Economic Outlook 2011-12 Agriculture grew at 6. 6% in 2010-11. This year’s monsoon is projected to be in the range of 90 to 96 per cent, based on which Agriculture sector is pegged to grow at 3. % in 2011-12! Industry grew at 7. 9% in 2010-11. Projected to grow at 7. 1% in 2011-12 Services grew at 9. 4% in 2009-10. Projected to grow at 10. 0% in 2011-12 Investment rate projected at 36. 4% in 2010-11 and 36. 7% in 2011-12 Domestic savings rate as ratio of GDP projected at 33. 8% in 2010-11 34. 0% in 2011-12 Current Account deficit is $44. 3 billion (2. 6% of GDP) in 2010-11 and projected at $54. 0 billion (2. 7% of GDP) in 2011-12 Merchandise trade deficit is $ 130. 5 billion or 7. 59% of the GDP in 2010-11 and projected at $154. 0 billion or 7. % of GDP in 2011-12 Invisibles trade surplus is $ 86. 2 billion or 5. 0% of the GDP in 2010-11 and projected at $100. 0 billion or 5. 0% in 2011-12 Capital flows at $61. 9 billion in 2010-11 and projected at $72. 0 billion in 2011-12 FDI inflows projected at $35 billion in 2011/12 against the level of $23. 4 billion in 2010-11 FII inflows projected to be $14 billion which is less than half that of the last year i. e $30. 3 billion Accretion to reserves was $15. 2 billion in 2010-11. Projected at $18. 0 billion in 2011-12 Inflation rate would continue to be at 9 per cent in the month of July-October 2011. There will be some relief starting from November and will decline to 6. 5% in March 2012. Foreign direct investment; net (BoP; US dollar) in India The Foreign direct investment; net (BoP; US dollar) in India was last reported at 11008159606. 75 in 2010, according to a World Bank report released in 2011. The Foreign direct investment; net (BoP; US dollar) in India was 19668790288. 40 in 2009, according to a World Bank report, published in 2010. The Foreign direct investment; net (BoP; US dollar) in India was reported at 24149749829. 71 in 2008, according to the World Bank. Foreign direct investment is net inflows of investment to acquire a lasting management interest (10 percent or more of voting stock) in an enterprise operating in an economy other than that of the investor. It is the sum of equity capital, reinvestment of earnings, other long-term capital, and short-term capital as shown in the balance of payments. This series shows total net, that is, net FDI in the reporting economy from foreign sources less net FDI by the reporting economy to the rest of the world. Data are in current U. S. dollars. This page includes a historical data chart, news and forecast for Foreign direct investment; net (BoP; US dollar) in India. India’s diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Services are the major source of economic growth, accounting for more than half of India’s output with less than one third of its labour force. The economy has posted an average growth rate of more than 7% in the decade since 1997, reducing poverty by about 10 percentage points. Total 933. 2 100 2705. 0 100 231530. 1 100 How to cite The Role of Fdi in India, Essay examples

Elements of Depreciation Computation free essay sample

Depreciation accounting may be defined as a systematic procedure for allocating the cost of a long-lived asset over its useful life. The determination of the depreciation expense of a period depends on three basic elements. These are: †¢Depreciation Base. The cost to be allocated over the period of use is known as the depreciation base. We will write a custom essay sample on Elements of Depreciation Computation or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This consists of the initial purchase cost of the asset minus any salvage value expected at the time of retirement plus the anticipated costs of removing the asset when it is retired. The cost of using an asset during its life is reduced by any salvage value recoverable at the end of the period and is increased by costs of removal. These elements of the depreciation base are often extremely difficult to measure. When it is anticipated that a substantial residual value will be recovered, an estimate of this value should be included in the determination of the depreciation base. †¢Useful Life. The useful life of a fixed asset is a function not only of the physical wear and exhaustion to which the asset is subjected, but also of technological change and innovation. Thus, a particular machine might be expected to last for ten years on the basis of physical endurance alone, but the development of new and better machines might reduce our expectation of its economic usefulness to four years. Both obsolescence and physical endurance must be considered in estimating useful life. In general, the useful life to be used for depreciation purposes will be the shorter of the lives estimated on the two bases. An asset that is physically exhausted can be expected to be replaced, even though it is not yet obsolete. On the other hand, an asset that is obsolete should also be replaced even though it is not physically worn out. †¢Procedures for Computing Depreciation. The objective of depreciation accounting is to assign to expense systematically the cost of a long-lived asset over the asset’s useful life. There are, however, many procedures for accomplishing this task. Although there is numerous depreciation procedures used in practice, our discussion will be limited to procedures that are most widely used. †¢Straight-Line Depreciation. When using the straight-line procedure for computing depreciation, the annual depreciation charge is obtained by dividing the depreciation base by the number of years of useful life forecasted. The main advantages of the straight-line procedure are its simplicity and the fact that revenues of successive years are charged with equal amounts of depreciation. The main disadvantage is that, given the assumptions of constant revenue and constant maintenance costs, the return on investment of the asset (income divided by the investment) will increase as the asset becomes older and the net book value decreases. The basic simplicity of the straight-line procedure has caused it to be the most widely used depreciation procedure for accounting purposes. Reference link: http://classof1. com/homework-help/statistics-homework-helpÐ µ