Women Entrepreneurship- Challenges Opportunities free essay sample

Hazard taking capacity, Self-certainty, Decision making capacity, Knowledge of cumin developing to reaping innovation, Economic inspiration, Market direction, Risk factors, Soil and firm state of encounters, Water assets, Water quality and volumes, need to cumin for every single specialized factor, Ability of co-appointment to cumin related exercises, Achievement, Motivation, and so on pointers are conduct of enterprising. Business enterprise has increased more noteworthy hugeness at worldwide level under changing financial situation. Worldwide economy as a rule and Indian economy specifically is ready for quickened development driven by business enterprise. Concedes condition of super shopping center culture we discover a lot of degree for business in exchanging and assembling. A business person is an individual who can take a gander at the earth, distinguish chances to improve the natural assets and execute activity to boost those chances (Robert E. Nelson) it is critical to hold up under at the top of the priority list the innovative aptitudes that will be expected to improve the personal satisfaction for people, families and networks and to support a sound economy and condition. We will compose a custom exposition test on Ladies Entrepreneurship-Challenges Opportunities or then again any comparative theme explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page Mulling over this, we will locate that every one of the conventional definitions has its own shortcoming (Tyson, Petrin, Rogers, 1994, p. 4). The main definition generally rules out advancements that are not on the innovative or hierarchical front line, for example, adjustment of more established advances to a creating nation setting, or going into send out business sectors previously tapped by different firms. Characterizing business enterprise as hazard taking disregards other significant components of what we for the most part consider as enterprise, for example, an all around created capacity to perceive unexploited market openings. Enterprise as a settling power limits business enterprise to perusing markets disequilibria, while business enterprise characterized as claiming and working a business, prevents the chance from claiming innovative conduct by non-proprietors, representatives and administrators who have no value stake in the business. Hence, the most suitable meaning of business enterprise that would fit into the country improvement setting, contended here, is the more extensive one, the one which characterizes enterprise as: a power that assembles different assets to fulfill neglected market need, the capacity to make and fabricate something from hardly anything, the way toward making an incentive by arranging a one of a kind bundle of assets to misuse a chance. It consolidates meanings of business enterprise by Jones and Sakong, 1980; Timmons, 1989; Stevenson, et al. 1985. Business so characterized, relates to any new association of profitable elements and not solely to advancements that are on the mechanical or hierarchical forefront, it relates to enterprising exercises both inside and outside the association. Enterprise need not include anything new from a worldwide or even national viewpoint, yet rather the selection of new types of business associations, new advances and new ventures delivering products not beforehand accessible at an area (Petrin, 1991). This is the reason business is viewed as a main player being developed and why countries, districts and networks that effectively advance enterprise improvement, show a lot higher development rates and thusly more significant levels of improvement than countries, areas and networks whose foundations, governmental issues and culture upset enterprise. An innovative economy, regardless of whether on the national, territorial or network level, varies fundamentally from a non-pioneering economy in numerous regards, not just by its financial structure and its monetary force, yet additionally by the social imperativeness and personal satisfaction which it offers with a subsequent appeal to individuals. Financial structure is exceptionally unique and very serious because of the fast production of new firms and the exit of old stale and declining firms Redefining business enterprise and advancement Succeeding as a business person and a trailblazer in today’s world is unfathomably not the same as what it was before. Associations will confront seven patterns in the following decade as they trip to endure, become and stay serious. Speed and vulnerability will win. Innovation will proceed to disturb and empower. Socioeconomics will direct quite a bit of what occurs in business. Unwaveringness will dissolve. Work will be done anyplace, whenever. Work as we probably am aware it will vanish. Ladies Entrepreneur: Women business visionaries have been having a noteworthy effect in all fragments of the economy in India, Canada, Great Britain, Germany, Australia and the United States. The regions picked by ladies are retail exchange, eateries, lodgings, training, social, cleaning, protection and assembling The New Thrust proposes following two components pulling or pushing ladies in a business Factors driving ladies to be an entrepreneur:Women business visionaries pick a Women takes up business endeavors to Profession as a test and a get over budgetary troubles and react experience with a desire to do some perceivability is pushed on them because of family - thing new, loving for business and conditions. to have an autonomous occupation. With the spread of training and new methodologies/mindfulness, ladies business visionaries are accomplishing more significant level of 3E’s, to be specific: (I) Engineering (ii) Electronics (iii) Energy. Despite the fact that we ought not overlook certain Psycho-Social Barriers which blocks the development of ladies business visionaries. Openings : Free section into world exchange. Improved hazard taking capacity. Legislatures of countries pulled back certain limitations Technology and innovations spread into the world. Support to developments and innovations. Advancement of sound consummations among countries Thought increment in government help for global exchange. Foundation of other national and global establishments to help business among countries of the world. Advantages of specialization. Social and social improvement Challenges: Problems of bringing value capital Difficulty up in getting reserve. T hought-cut consummations jeopardized presence of little organizations. Issues of benefiting crude materials. Issues of out of date quality of indigenous innovation Increased contaminations Ecological imbalanced. Issues of TRIPS and TRIMS. Abuse of little and helpless nations, and so forth. Recommendations Govt. ought to give separate budgetary reserve of women’s business person. We ought to give her uncommon foundation offices what ever she deeds. Govt. ought to orchestrate extraordinary preparing projects of ladies business enterprise Govt. should congratulated top ranker women’s business person. Ladies business visionary should increasingly serious and effective in the nearby worldwide market. Utilize should welcome effective ladies business visionaries from outside nations. Ladies Entrepreneurship in India Out of all out 940. 8 million individuals in India, during the 1990s, females contain 437. 10 million speaking to 46. 5 percent of the complete populace. There are 126. 48 million ladies workforce yet according to the 1991 registration, just 1, 85,900 ladies representing just 4. 5 percent of the all out independently employed people in the nation were recorded. According to a harsh gauge the quantit y of SSIs are required to be2. 5 billion having 9% ladies business people in to it. Thinking about this pattern, ladies cooperation in an additional five years was 20 % increasingly, raising the quantity of ladies business people to around 5, 00,000. Joined impact of inspirational drive, planning of data material, leading preparing, production of ladies mechanical bequests, and preparing of advertisers and utilization of broad communications all together will undoubtedly quicken the procedure of ladies business advancement. Some psycho-social variables hinder the development of ladies business visionaries are as per the following: Poor mental self view of ladies Inadequate inspiration Discriminating treatment Faulty socialization Role strife Cultural qualities Lack of fearlessness and self-assurance Insufficient consolation Lack of social acknowledgment Unjust social, monetary and social framework Lack of opportunity of articulation Afraid of disappointments and analysis Susceptible to negative disposition Low pride of work What New Awareness needs to state about it? The new Industrial Policy of the Government of India has exceptionally featured the requirement for uncommon business programs for ladies business people in the idea of item process situated courses †to empower them to begin little scope ventures. A greater part of ladies business visionaries are from the working class families who have low specialized instruction, less family duties yet want to become business visionaries. This potential ought to be recognized and tapped. Provincial Entrepreneur Succeeding as a business visionary and a pioneer in today’s world is boundlessly unique in relation to what it was before. Other than the current age of business enterprise additionally is going through the change time frame. They experience money related asset restriction to elevate or to build up an endeavor and there is additionally look of exploration and development to meat with advertising difficulties. Indian provincial economy is additionally encountering conduct of innovative. Point of most ranchers is to gain benefits from cultivating as from some other business, in the event that he decides the goals. A ranch business fundamental requires conscious choice and appropriate speculation, subsequent to evaluating hazard and accessible assets to expand benefit. There for business enterprise isn't just appropriation of new action yet it is change of an individual from conventional of present day India is known as â€Å"Home spices† and is in certainty the biggest maker, buyer and exporter of flavors on the planet. However, cumin development requires more sources of info and creation pr

Burned by Ellen Hopkins Essay Example for Free

Consumed by Ellen Hopkins Essay Ellen Hopkins composed this novel about a young lady who experienced childhood in a Mormon family unit, and is starting to feel this isn't a way of life she needs for herself. With an injurious dad, sluggish and inactive mother, and steady clashes with the Mormon lessons and convictions, she will not surrender to that lifestyle. She declines to ever become property to a spouse what her identity is educated to â€Å"obey† or an infant delivering machine. With her new flexibility and need for an ordinary life, it incenses her dad. He sends her to live with his repelled sister for the late spring, however what he doesn’t acknowledge is that he’s allowing her opportunity and to live. She figures out how to adore and that life as she knew it was never a real existence implied for her. Hopkins’ book shows the life of a Mormon young lady; Pattyn Scarlet Von Stratten. Pattyn is burnt out on the Mormon way of life and dissidents against her family and the standards of her home and church. Her dad invests the majority of the energy alcoholic and furious and her mom has an entire family unit to deal with. After Pattyn gets in a battle and breaks a window, her family has had enough of her revolting so they send her to live with her Aunt, out in the center of no place, for the mid year, so she can no longer get in a difficult situation. Things being what they are, she has some good times on her stay with her auntie, she figures out how to drive and ride a pony, and meets the adoration for her life. She began to look all starry eyed at Ethan, the child of her aunt’s companion. He isn't Mormon and her dad would murder the them two on the off chance that they were together. In the wake of getting back things begin to turn sour once more. She mouths off to her dad and gets beaten. She pays the price for something her sister does, and gets beaten to spare her sister. She additionally discovers that she will have Ethan’s infant. Like all of Hopkins books, Burned likewise has a sad closure. Ethan and Pattyn get in an auto wreck and she awakens in the medical clinic to discover that she lost Ethan and her child. At long last she says that God couldn't be love since affection was a body, since she lost the adoration for her life, and the main thing leftover of him. The book leaves you with the vision of Pattyn sitting over a bustling thruway, going to take you own life.

Mung Beans Free Essays

Unique The Seeds of Mung bean, wheat, and silver beet were tried in situations of contrasting salinities to note down if high saltiness conditions were more terrible for the seeds. It was discovered that for the most part lower focuses were better for germination then higher fixations. Notwithstanding this, the speculation was not totally upheld as in wheat and silver beet the subsequent fixation had a higher pace of germination than the control and in all examples the most elevated focus had a higher germination rate than the second most noteworthy fixation. We will compose a custom paper test on Mung Beans or on the other hand any comparable subject just for you Request Now Presentation Saltiness alludes to salt broke down in a substance, for example, water or soil. Various plants have contrasting degrees of salt resistance, because of specific receptions to explicit situations. On the off chance that a plant isn't adjusted to high saltiness regions, they can be exceptionally impeding to them. This is because of the procedure of assimilation. Assimilation is the procedure that happens when there are contrasting focuses between within and outside of a cell (Etomica, 2010). The explanation that arrangements can go through a cell is because of its cell layer, which is a semi-porous, implying that lone a few things and not others can go through it (Purchon, N, 2000). On the off chance that there is a higher fixation outwardly of the cell than within the cell then it is alluded to as hypotonic. At the point when this occurs, water streams from outside the cell into it, and the cell begins to grow. At the point when the cell swells it is supposed to be bloated, which means swollen and hard (Etomica, 2010). In plant cells there is a cell divider which keeps these cells from blasting, and when the inward and outside weights become equivalent the ‘turgor pressure’ keeps the cell from taking in any more water (Etomica, 2010). On the off chance that the fixation is higher within, in any case, than it is alluded to as hypertonic. At the point when a cell is in a hypertonic arrangement, water from within the cell will go out of the cell (Etomica, 2010). At the point when this occurs, the cell is supposed to be ‘flaccid’, and when this happens the cytoplasm of the cell, which is the organelle of a cell worried about the capacity of water, pulls from the cell dividers in a procedure known as plasmolysis (Etomica, 2010). On the off chance that there is an equivalent focus on both within and outside of the cell than it has arrived at a ‘dynamic equilibrium’ and is alluded to as isotonic, ‘incipient plasmolysis’ happens . Beginning methods going to be, implying that it is in the middle of being bloated and being plasmolysed (Etomica, 2010). In the event that a completely grown plant is in an isotonic arrangement, at that point a plant hangs since it isn't bloated enough to hold itself up (Etomica, 2010). High saltiness situations can be awful for plants not adjusted to them in light of the fact that their cells become limp. This is on the grounds that the centralization of water in a high saltiness condition is generally low, implying that water diffuses from inside the cell outwards, and in the end can deny a cell totally from water (Etomica, 2010). The impacts of high saltiness situations on plants are a particularly enormous issue in Australia. This is on the grounds that, more than a huge number of years, salt has been taken from the ocean as salt water, and saved over the Australian scene as downpour (DENR SA, 2010). This salt has remained even stored through soil for many years because of the local plants living in it, however with the estate of presented crops has become a huge issue. In profound established, local plants, when precipitation happens, a lot of water is taken up through the roots from the dirt, bringing about no distinction to the earth. Be that as it may, with presented, shallow-established plants, less water is taken up through the roots. Since less water is taken up, more water remains, and when the water vanishes from the dirt, salt which has been low subterranean for many years is brought to the surface, encompassing these new plants and denying them of further water (DENR SA, 2010). This procedure can be aggravated by the water system of yields, which bring about more water dousing into the dirt and subsequently more water to vanish and convey salt to the soil’s surface (DENR SA, 2010). A case of a plant adjusted to high saltiness conditions is the mangrove. The mangrove is a halophilous plant, implying that it is a plant that develops in saline soils and waters (Conservancy Association, 2010). This gives it a favorable position as relatively few plants can live in these conditions. The mangrove handles these high saltiness conditions in various strategies. The main technique is through salt rejection, which is the procedure the mangrove uses to keep salt from entering its underlying foundations and in this manner halting it being shipped to the plant cells (Conservancy Association, 2010). Regardless of this, some salt despite everything breaks through to the cells, and there are more techniques to manage it. With mangroves, for example, the Black Mangrove, salt can be discharged through its tissues, through explicit salt organs (Conservancy Association, 2010). Another technique is the capacity of this salt on the leaves of the plant, as precious stones. These leaves at that point drop to the ground, taking this salt with them (Conservancy Association, 2010). The germination of mangroves is likewise a procedure explicitly adjusted to high saltiness conditions. A mangrove seed starts to create before it is dropped to the ground from the plant, to improve its odds of endurance once it is dropped (Conservancy Association, 2010). As a mangrove is encircled by water, when a seed drops it will begin skimming, as the seed coat begins to shed. The speed at which this coat sheds relies upon how perfect the conditions are for it, as it will tumble off gradually on the off chance that it is in a high or low saltiness condition (Conservancy Association, 2010). The best condition for a mangrove seedling is one of a mix of ocean and new water. In the event that nature has a high temperature, at that point the procedure is likewise revived (Conservancy Association, 2010). Finding the correct condition decently fast is significant as a mangrove seed can just remain alive a couple of days, before it needs to embed (Conservancy Association, 2010). In this all-inclusive test examination, the germination procedure of the seeds of mung beans, wheat, and silver beet in contrasting saline situations are tried to perceive how high saltiness conditions can influence plants. Mung beans can develop in both soggy and dry situations, and can endure exceptionally dry season conditions if essential (Jefferson Institute, 2010). Regardless of this, they are not very much adjusted to high saltiness conditions. Silver beet seeds are additionally adjusted to a wide scope of atmospheres, despite the fact that lean toward cool, dry regions to develop (Primefacts, 2009). Silver beet seeds have some resilience to saline conditions, however very little resistance during the germination procedure (Primefacts, 2009). There are over a thousand various types of wheat, whose seeds by and by can endure well in dry spell like conditions, yet are generally unadapted to saline situations (Shipard, I, 2009). Ten of every one of these seeds will be placed into five contrasting arrangements. The arrangements comprise of a control arrangement, being a refined water arrangement with no salt, an answer of 4. 375g/L of salt, an answer of 8. 75g/L of salt, an answer of 17. 5g/L of salt, and an answer of 35g/L of salt, being the normal saltiness of ocean The most effective method to refer to Mung Beans, Essay models

MM IT Solutions Case Study Essay - 2200 Words

MM IT Solutions Case Study (Essay Sample) Content: MM IT Solutions Case StudyNameInstitutionInstructorDateSWOT analysis on MM IT SolutionsSWOT analysis refers to a framework for analysing the internal and external environment, as well as the resources available to a business. SWOT analysis is a crucial tool for strategic planning and identifies four key aspects. Firstly, it identifies the internal strengths such as unique resources, strong brand name, and financial capabilities among others. Next, the analysis considers the internal weaknesses such as poor organizational cultures, lack of key managerial staff and operational inefficiency among others. Thirdly, the analysis evaluates the existing opportunities in the external environment such as market niches and unsatisfied demand. The final aspect that SWOT analysis considers is any threats from outside the business. Threats may include changes in market preferences, increase in competition and legal regulations among others.Strengths MM IT Solutions has qualified I T staff to move the business forward. The business mainly involves general and specialist programming, assembling and repair of computers, network solutions, system design, broadband installation, and system maintenance. These activities require expertise in computer technology that the business already has. The founder of the business, Millom, is an IT expert, and so are the IT engineers. This shows that the business has a great future; in as far as, the nature of the business is concerned.WeaknessesThe management of MM IT Solutions lack various key skills required for the business to grow. For instance, the recent appointment of a financial director has revealed that the management lacks key financial skills, which is evident in the findings of the new financial director. According to the director, the business lacks sufficient control over general expenses and credit facilities. The business has poor purchasing facilities and budgetary control. The management has given too mush f ocus on the technical part of the business such that areas such as marketing have been neglected. The resistance to the Milloms action to bring most of the systems under the same roof by employees indicate an internal weakness. According to the case study, some have even threatened to leave. The disunity between Millom and the workers may have negative impact on the business.The business has been expanding rapidly giving rise to the need for a bigger premise. The current premise is congested, and this will continue since the business is expanding each day. The current environment is not conducive for fruitful business operations. Opportunities The current growth in the IT industry is a great opportunity of the business. The industry is growing rapidly giving rise to the need for new IT systems and solutions. What could be a new IT technology today could be outdated within months or weeks. From the case study, it is evident that MM IT Solutions has been receiving numerous enquiries r egarding emerging IT aspects such as e marketing, e-auctions, and e-procurements among others. According to Millom, the business must grasp this opportunity. ThreatsThe rate at which the nature of the IT industry is changing is alarming, and poses a threat to MM IT Solutions. The systems that the business offers might be required in future owing to the emergence of new and better systems. This means that the business will at one-point experience shortages in demand for their current systems. This means that the business will have to conduct continuous research in order to offer current systems and technologies in the industry. Areas of major concernFinancial management is a vital area that the business has neglected. This has resulted in poor budgetary control and poor accounting practices among others. The business should hire competent financial staff to maintain the books of accounts. This will give clear details of the businesss revenue and expenses, as well as measures to maxim ize revenues and minimise expenses. A qualified financial manager will be responsible for making budgetary allocations and advising on the financial feasibility of key business projects.Marketing is vital to any business since it communicates the products and services of the business to potential and existing customers. This calls for a competent marketing team to market the business. The business should also give sufficient budgetary allocations to the department in order to allow for extensive marketing activities. This will result in increase in sales, and consequently profitability for the business.Owing to the constant changes in the nature of the business, the business will have to set up a research and development unit. This unit will be responsible for tracking the changes in the industrys technology. The unit will analyse emerging technologies, and recommend a course of action for the business depending on the feasibility of the technology. This will ensure that the busine ss has the best current technology offers for customers. The business is growing at a rapid rate and the growth will continue in the future. Therefore, the business will have purchase a new premise that will accommodate all business comfortably without cramping. The business should consider the feasibility of buying a premise, or taking the offer by the Local Business Development Agency to lease a premise for 10 years.The location of the business is also of significance. The location of the various systems will obviously affect the operations of the business. For instance, locating all systems under the same roof experienced a lot of resistance from workers. The business should focus on a location or locations that workers are satisfied with, and that affects positively on the business. Market segmentation and targetingSegmentation is a marketing concept that involves dividing prospective buyers into several segments or groups. The market has segments according to the different need s of customers such that each group represents similar needs. This way satisfying the needs of each segment becomes easier since a business will target the needs that are common in a specific segment by use of the media available to that segment. Market segmentation enables businesses to respond to the needs of various market categories of customers who have different perceptions of the value of a product or service. Market targeting, on the other hand, refers to the process in which a business identifies the needs of a specific segment for which to market its products or services. Targeting specific segments allows a business to focus on a small segment of the market, connect with customers, and increase sales. For this reason, MM IT Solutions will have to engage in market segmentation and targeting.Segmentation will help MM IT Solutions understand the needs of customers in a better way. This will involve understanding the needs of different customers, and the differences in thei r perceptions of value. Segmentation will assist the business develop the profiles of profiles of the different types of customers. Such profiles are useful when developing products for the target customers, as well as the marketing strategies. Segmentation will also help develop the best messages for the different market segments. Customers like to receive information or messages that are relevant to their needs. Segmentation will help MM IT Solutions to determine which customers are low, medium, or high value customers. Market segmentation will also assist the business in developing distribution systems that are more efficient. Different segments will have different buying patterns and behaviours. Studying such behaviours will help the business determine whether customers prefer buying from the business premise or via the internet. This way, the business can focus resources on the most popular avenue in order to maximise profits. Targeting, on the other hand, will enable MM IT Sol utions to concentrate resources on particular segments identified during segmentation. Targeting will enable the business to strengthen its brand name. This is because the business will have a clear idea on its customers, their needs and preferences, and their buying patterns. Targeting ensures that a business focuses its advertising efforts depending on the needs of each market segment. Targeting will help the business focus on the different demographics of customers. They include age, income, gender, household size, and geographical location among others. Different groups of customers will require different approaches of advertising. Targeting will assist the marketing department of MM IT Solutions to determine the best marketing messages for each segment. This way, the business can create promotional and advertising campaigns to communicate the brand message to a particular segment effectively. This will lead to increased sales, and consequently increased profitability. Market s egmentation for MM IT SolutionsMM IT Solutions will segment its market into four segments namely; online customers, business customers, students and households. Each of the four segments have similar needs concerning why they demand computers or computer services. Segmenting makes the targeting of each segment easier for the benefit of the business.Online customersThese customers order, as well make payments for the orders online. Such customers have a reliable access to the internet and online payment systems. Such customers mainly demand software programs mainly for business purposes. The main type of advertisement for this segment involves digital marketing.Business customersThese customers demand business solutions and equipment. The computers demanded by this segment are usually for business purposes. Such customers need computers with high speeds to avoid slowin... MM IT Solutions Case Study Essay - 2200 Words MM IT Solutions Case Study (Essay Sample) Content: MM IT Solutions Case StudyNameInstitutionInstructorDateSWOT analysis on MM IT SolutionsSWOT analysis refers to a framework for analysing the internal and external environment, as well as the resources available to a business. SWOT analysis is a crucial tool for strategic planning and identifies four key aspects. Firstly, it identifies the internal strengths such as unique resources, strong brand name, and financial capabilities among others. Next, the analysis considers the internal weaknesses such as poor organizational cultures, lack of key managerial staff and operational inefficiency among others. Thirdly, the analysis evaluates the existing opportunities in the external environment such as market niches and unsatisfied demand. The final aspect that SWOT analysis considers is any threats from outside the business. Threats may include changes in market preferences, increase in competition and legal regulations among others.Strengths MM IT Solutions has qualified I T staff to move the business forward. The business mainly involves general and specialist programming, assembling and repair of computers, network solutions, system design, broadband installation, and system maintenance. These activities require expertise in computer technology that the business already has. The founder of the business, Millom, is an IT expert, and so are the IT engineers. This shows that the business has a great future; in as far as, the nature of the business is concerned.WeaknessesThe management of MM IT Solutions lack various key skills required for the business to grow. For instance, the recent appointment of a financial director has revealed that the management lacks key financial skills, which is evident in the findings of the new financial director. According to the director, the business lacks sufficient control over general expenses and credit facilities. The business has poor purchasing facilities and budgetary control. The management has given too mush f ocus on the technical part of the business such that areas such as marketing have been neglected. The resistance to the Milloms action to bring most of the systems under the same roof by employees indicate an internal weakness. According to the case study, some have even threatened to leave. The disunity between Millom and the workers may have negative impact on the business.The business has been expanding rapidly giving rise to the need for a bigger premise. The current premise is congested, and this will continue since the business is expanding each day. The current environment is not conducive for fruitful business operations. Opportunities The current growth in the IT industry is a great opportunity of the business. The industry is growing rapidly giving rise to the need for new IT systems and solutions. What could be a new IT technology today could be outdated within months or weeks. From the case study, it is evident that MM IT Solutions has been receiving numerous enquiries r egarding emerging IT aspects such as e marketing, e-auctions, and e-procurements among others. According to Millom, the business must grasp this opportunity. ThreatsThe rate at which the nature of the IT industry is changing is alarming, and poses a threat to MM IT Solutions. The systems that the business offers might be required in future owing to the emergence of new and better systems. This means that the business will at one-point experience shortages in demand for their current systems. This means that the business will have to conduct continuous research in order to offer current systems and technologies in the industry. Areas of major concernFinancial management is a vital area that the business has neglected. This has resulted in poor budgetary control and poor accounting practices among others. The business should hire competent financial staff to maintain the books of accounts. This will give clear details of the businesss revenue and expenses, as well as measures to maxim ize revenues and minimise expenses. A qualified financial manager will be responsible for making budgetary allocations and advising on the financial feasibility of key business projects.Marketing is vital to any business since it communicates the products and services of the business to potential and existing customers. This calls for a competent marketing team to market the business. The business should also give sufficient budgetary allocations to the department in order to allow for extensive marketing activities. This will result in increase in sales, and consequently profitability for the business.Owing to the constant changes in the nature of the business, the business will have to set up a research and development unit. This unit will be responsible for tracking the changes in the industrys technology. The unit will analyse emerging technologies, and recommend a course of action for the business depending on the feasibility of the technology. This will ensure that the busine ss has the best current technology offers for customers. The business is growing at a rapid rate and the growth will continue in the future. Therefore, the business will have purchase a new premise that will accommodate all business comfortably without cramping. The business should consider the feasibility of buying a premise, or taking the offer by the Local Business Development Agency to lease a premise for 10 years.The location of the business is also of significance. The location of the various systems will obviously affect the operations of the business. For instance, locating all systems under the same roof experienced a lot of resistance from workers. The business should focus on a location or locations that workers are satisfied with, and that affects positively on the business. Market segmentation and targetingSegmentation is a marketing concept that involves dividing prospective buyers into several segments or groups. The market has segments according to the different need s of customers such that each group represents similar needs. This way satisfying the needs of each segment becomes easier since a business will target the needs that are common in a specific segment by use of the media available to that segment. Market segmentation enables businesses to respond to the needs of various market categories of customers who have different perceptions of the value of a product or service. Market targeting, on the other hand, refers to the process in which a business identifies the needs of a specific segment for which to market its products or services. Targeting specific segments allows a business to focus on a small segment of the market, connect with customers, and increase sales. For this reason, MM IT Solutions will have to engage in market segmentation and targeting.Segmentation will help MM IT Solutions understand the needs of customers in a better way. This will involve understanding the needs of different customers, and the differences in thei r perceptions of value. Segmentation will assist the business develop the profiles of profiles of the different types of customers. Such profiles are useful when developing products for the target customers, as well as the marketing strategies. Segmentation will also help develop the best messages for the different market segments. Customers like to receive information or messages that are relevant to their needs. Segmentation will help MM IT Solutions to determine which customers are low, medium, or high value customers. Market segmentation will also assist the business in developing distribution systems that are more efficient. Different segments will have different buying patterns and behaviours. Studying such behaviours will help the business determine whether customers prefer buying from the business premise or via the internet. This way, the business can focus resources on the most popular avenue in order to maximise profits. Targeting, on the other hand, will enable MM IT Sol utions to concentrate resources on particular segments identified during segmentation. Targeting will enable the business to strengthen its brand name. This is because the business will have a clear idea on its customers, their needs and preferences, and their buying patterns. Targeting ensures that a business focuses its advertising efforts depending on the needs of each market segment. Targeting will help the business focus on the different demographics of customers. They include age, income, gender, household size, and geographical location among others. Different groups of customers will require different approaches of advertising. Targeting will assist the marketing department of MM IT Solutions to determine the best marketing messages for each segment. This way, the business can create promotional and advertising campaigns to communicate the brand message to a particular segment effectively. This will lead to increased sales, and consequently increased profitability. Market s egmentation for MM IT SolutionsMM IT Solutions will segment its market into four segments namely; online customers, business customers, students and households. Each of the four segments have similar needs concerning why they demand computers or computer services. Segmenting makes the targeting of each segment easier for the benefit of the business.Online customersThese customers order, as well make payments for the orders online. Such customers have a reliable access to the internet and online payment systems. Such customers mainly demand software programs mainly for business purposes. The main type of advertisement for this segment involves digital marketing.Business customersThese customers demand business solutions and equipment. The computers demanded by this segment are usually for business purposes. Such customers need computers with high speeds to avoid slowin...

The American Dream in Of Mice and Men by John Steinbeck

The American Dream is something that many individuals have desired for countless years. Although it has evolved during the past couple of years, many individuals still strive to achieve it. Steinbeck’s novel Of Mice and Men illustrates this American Dream of the 1930’s, which is looked upon as impossible through the failure of George and Lennie’s achievement. â€Å"The story Of Mice and Men and the American Dream is known to be somewhat different; it can define the independence and self-sufficiency for an individual and also the freedom that one person gets that comes from owning a land† (Johnson 140). The dream is still present in people’s eyes because they still have that mindset to this day. â€Å"Steinbeck intends to present that the dream has finally become a reality for Lennie, but that only possibility is in death because in life things will always happen out of human control, to destroy those dreams† (Burkhead 54). Lennie and Georgeâ €™s dream of owning a farm and living off the â€Å"fatta the land† symbolizes this dream, certainly not to realize the dream embraces their remarkable friendship together, their dreams give them life, even if life never allows them to accomplish their dreams. â€Å"George and Lennie who travel as a pair both desire that one simple vision of their own land, animals to tend, and a vacation now and then† (Christians 1). The novel does a significant way of demonstrating the American Dream; it is certainly a metaphor for the opportunities that one can earn. OfShow MoreRelatedThe American Dream in Of Mice and Men by John Steinbeck712 Words   |  3 PagesThe American Dream in Of Mice and Men The American dream is the traditional social ideals of the US, such as equality, democracy, and material prosperity. In the Novella Of Mice and Men by John Steinbeck the American Dream plays a huge role in almost every character’s lives, and the different version of the American dream for each individual has affected both their lives and the outcome of this novella. The American dream plays a role that makes each character more hard working and perseveredRead MoreMotivation for the American Dream in Of Mice and Men, by John Steinbeck783 Words   |  4 Pagesnot trying it achieve something. Motivation can be applied to the American Dream. In the book Of Mice and Men, by John Steinbeck, the levels of motivation are clearly evident, this affects the process of how the characters achieve their dreams. Of Mice and Men is a story of two migrant workers, how they deal with their American Dream, and the troubles of working on a ranch during The Great Depression. The Characters of Of Mice and Men are going through these levels of motivation and achievement. ThroughRead MoreThe American Dream in Of Mice and Men by John Steinbeck Essay531 Words   |  3 PagesWhen we try to chase our dreams, we end up in our own diminutive lonely world. Of Mice and Men, by John Steinbeck, has taught readers that the American dream can only ever be accomplished through ha rd work and determination. More times than others, we are distracted by the dream itself, and don’t chase the reality, which can then lead to high expectations, and without hard determination, that can then failure. In the end, we have been lonely for so long, chasing a dream, that when reality hits usRead MoreEssay on The American Dream in Of Mice and Men by John Steinbeck1615 Words   |  7 Pages The novel, Of Mice and Men written by John Steinbeck refers back to The American Dream as heaven. Steinbeck is trying to point out that the American Dream is unrealistic. This novel looks back at the dreams of American individuals in the 1930s. It is set in California at the time of the Great Depression during which the American stock market collapsed leaving the nation in a state of economical disarray. The disease, hunger and poverty in England were highRead MoreThe American Dream in Of Mice and Men by John Steinbeck Essay1098 Words   |  5 Pages Of Mice And Men explores the ways in which both immigrants and Americans tried to conquer and obtain their goal in life, which in this case was to try and attain their own the American Dream. I will also explores ways in how the American Dream is central to the novel and how Steinbeck reflects the society at the time. In the early 1900s the object that determined the wealth of a family, the object that was mentioned in every conversation all over the world andRead MoreThe Grapes Of Wrath And Of Mice And Men1644 Words   |  7 PagesJarvis Johnson Research Paper John Steinbeck is an American author of 27 books, widely known for award winning novels, The Grapes of Wrath and Of Mice and Men; Steinbeck is also a Nobel Prize winning of Literature. Steinbeck’s writing expresses realistic and creative thoughts, combining as they do compassionate comedy (through Lennie) and intense social perception with their surrounding national culture. John Steinbeck, â€Å"Of mice and Men†, Printed in 1937, articulating a tale of characters, GeorgeRead MoreJohn Steinbeck: An American Writer During the Great Depression1315 Words   |  6 Pageshistorical time. Because of the difficult situations, American writers turned their focus to social problems and issues. They were motivated to arouse sympathy for the suffering of common people, especially those at the very bottom of the society. (Wang, 2012) John Steinbeck (1902-1968), born in Salinas, California, is one of the most significant and representative American writers in that era. He is the winner of the Noble Prize for Literature in 1962. John Steinbeck’s living experience in California hadRead MoreRhetorical Analysis Of John Steinbeck s Of Mice And Men 1406 Words   |  6 PagesRhetorical Analysis Essay John Steinbeck, writer of the novel, Of Mice and Men, uses many different rhetorical devices and appeals to unravel the essence and truth of the American Dream, while revolving around the world of these characters, George and Lennie. Written during the great depression, the novel itself shares the lives of many different people during that time period. It explored how everyone was treated through that time due to skin color, disabilities, and gender. Life during thisRead MoreCultures in ‘Of Mice and Men’ by John Steinbeck Essay1491 Words   |  6 PagesJohn Steinbeck (1902 – 1968) was born in Salinas, California, which was also were the book ‘Of Mice and Men’ was set. At the time John Steinbeck introduced the book ‘Of Mice and Men’, money was a really big issue. This time was known as the ‘Great Slump’, also known as, the Great Depression. John Steinbeck had experience of life, as a farm labourer and could be why he chooses to tell the story about George Milton and Lennie Smalls, two ranchmen in Americas South West The story opens with RanchmenRead MoreThe American Dream758 Words   |  4 PagesThe American Dream is the idea of the United States having an endless opportunity for anyone, regardless of their past, race, beliefs, and their economic life now. In the novel Of Mice and Men written by John Steinbeck, each character was driven to something that they enjoyed or wanted; something they had to work hard for and strive to have it. In the book, many of these objectives were connected to achieve The American Dream. Lennie and Georges American Dream is to pursue their ideal life by owning

Essay about Employee Motivation - 976 Words

Employee Motivation Employee motivation is a key factor within a successful organization or business. The quality of work that people express is often a result of the motivation they possess. Companies have a variety of ways to motivate their employees, as well as to keep them satisfied. Businesses set substantial amounts of goals, and when employees reach those goals, they should be recognized within the company. To know that someone appreciates your exertion is a great feeling. Happiness in the workplace is very important if a Manager would like to retain their workers. When an employee is discontented, it becomes the Managers responsibility to make the appropriate changes. Motivating†¦show more content†¦A website known as CorporateRewards.com is an organization that assists in acknowledging good work. The organization is notified by a company that would like to reward an employee, from there they are able to give awards virtually via e-mail, physically by their employer, or delivered by mail. These awards can be used as online gift certificates to over hundreds of stores, or converted into restaurant gift certificates as well. Getting to know employees on a personal level can help to make them feel as though they are cared for. Rewards are a great way to show your appreciation, but at the same time, it is nice to reward an employee with something that they will enjoy. Designing rewards based on an individuals personal preference appears to be more thoughtful. To really understand what is important to each employee, its essential to get to know each employee well and find out what they think are important rewards. On a less personal level, some offices might reward their employees in other ways. Variable pay programs such as piece-rate plans, wage incentives, profit sharing, Bonuses, and gain sharing are all forms of rewards. It is a companys decision to choose which rewards would suit their employees the best. The Document Company, Xerox has their own ways of motivating theirShow MoreRelatedThe Motivation And Employee Motivation1584 Words   |  7 PagesThe central problem that always employers and employees face is the employee motivation. The workers who put no effort to do their best in their jobs which will lead to low quality of work and give no benefit to the organization are the one who are not motivated (Amabile 1993). On the other side, employees who are apparently to be very intelligent, action oriented, ambitious, autonomous and always put an effort and sacrifice their time to put the organization at the ease are the one who feel motivatedRead MoreEmployee Motivation886 Words   |  4 PagesThis is a dissertation abstract on Employee Motivation: Why study motivation? To state it simple you need to know motivation to be a better leader to accomplish your business goals. Employees are like sheep you need to lead them to accomplish the mission. It is much easier to lead a group of individuals when they have a vested interest to accomplish it. You create that interest through motivation. The key to a successful organization in many ways is motivation. It is one of the most difficult tasksRead MoreEmployee Motivation 1164 Words   |  5 Pages Bauer and Erdrogen (2009) define motivation as â€Å"the desire to achieve a goal or a certain performance level, leading to goal–directed behavior† (p.97). McConnell (2006) argues that true motivation is self motivation. Today, health care organizations place a lot of emphasis on production and performance. However, motivating employees is a common challenge faced by health care managers and Bauer and Erdrogen (2009) state it is also one of the factors that greatly affect performance. McConnell (2006)Read MoreMotivation of Employee2476 Words   |  10 PagesMotivation of Employee People join and work in organization to satisfy their needs. They are fascinated to organizations that have the funds of rewarding their wants. These wealth are called â€Å"incentives (compensation, benefits)† (M. Maccoby, 9) of rewards; organizations use them to initiate people to contribute their efforts on the way to achieve organizational goals. The continued existence of an organization depends on its capability to attract and stimulate people to accomplish these individualRead MoreEmployee Motivation2339 Words   |  10 PagesEmployee Motivation A question often asked by first-line supervisors and managers is â€Å"How do we motivate our employees?† Effectively motivating employees to achieve a desired outcome is one of the most important functions as a supervisor or manager. There is evidence to show organizations are facing challenges retaining employees due to limited opportunities for advancement and the current competitive labor market. It does not appear things will get any better in the future. The loss of employeesRead MoreEmployee Motivation9463 Words   |  38 PagesInsights Into Employee Motivation, Commitment and Retention Barbara J. Kreisman Ph.D. Research/White Paper Insights Denver February, 2002 The Leadership Journey is a supervisory, management, and leadership training system consisting of 24 courses delivered on DVD, CD-ROM, VHS, and Online. Call 1-800-541-7872 or visit www.btedemo.com to preview courses. Page 1 Table of Contents Executive Summary†¦Ã¢â‚¬ ¦.3 W hy Employee Retention and Motivation Is Important†¦Ã¢â‚¬ ¦.5 Turbulence In The Work Environment†¦Ã¢â‚¬ ¦Read MoreMotivation Theories And Motivation Of Employee Motivation Essay1517 Words   |  7 Pagesour control and some that are not. Employee motivation is something that can directly affect an organizations production. It is no secret that un-motivated employees equates to un-productive workers, but how can we combat this? In order to better understand this concept we will look at the definition of employee motivation, some of the motivation theories and some motivation techniques that could be useful in our organizations. What is employee motivation? Motivation is a word used quite often in manyRead MoreMotivation And Efficiency Of Employee Motivation Essay2331 Words   |  10 PagesMotivation is defined as â€Å"the process that account for an individual’s intensity, direction and persistence of effort toward attaining a goal†¦Ã¢â‚¬  (Robbins Judge, 2016, p. 126). It is a flat out need to keep employees motivated in the workplace and boost them to perform beyond expectations. In addressing what elements of employment result in both motivation and efficiency, this paper briefly sketches some of the theories of motivation applied in workforce and analyses how these theories are appliedRead MoreEmployee Motivation And Motivation Theory1878 Words   |  8 Pagesvaluable resources for companies and them could be competitive advantages for modern companies. It is important for modern companies to improve employee satisfaction and performance so that they can improve their organisational performance and competitiveness (Armstrong, 2006). As a result, Employee’s motivation management is significantly for companies. Motivation is a cognitive process to guide, initiate, direct and maintain goal-oriented activities. It can also be defined as the driving forces directingRead MoreMotivation Strategy For Employee Motivation Essay2082 Words   |  9 Pagesthe strength and weaknesses of at least two theories of motivation. With the rapid changes of modern business environment, the competition between organizations becomes more and more fierce. In order to be competitive enough to stand out from the rest, businesses try to enhance their competitiveness by improving different area in the management aspect. In addition to, as service sector has become the most dominant industry nowadays, employee?s performance become more crucial as it can directly affect

Nations Rich in Natural Resources

Question: Write an essay on The nations that are rich in natural resources. Answer: Introduction: The nations that are rich in natural resources tend to use its natural resources for the aim to secure funds for the process of development within the country. The governments of the specific countries have to enter into an agreement and contract to develop the existing resources of the country and also to explore them for the betterment of the country. The contract is made between the government of the country and the oil companies of that specified country (chalmers, 2012). Both of the contract holders have to put emphasize on the technical issue and the commercial understanding about the exploration of oil. But in making this contract successful, the first obstacle which the government usually faces is the process of negotiation. Problems of negotiation: Different developing countries and also different developed countries like - mexico, kazakhstan, and bolivia appraise their natural resources of oil and gas as assets or property of the country. These natural resources are not considered as any private property of an entity or individual, though an individual might be the owner of the surface land or water bodies. The government of the country is the only owner of the underlying natural oil and gas resources, according to the laws of the nations. The main aim of the countries that are rich in natural oil and gas resources is to maximize the participation of oil companies in the country as these companies possess abundant expertise and thus they could properly exploit the natural resources and market them globally (grant, 2012). But at the time of negotiation, these companies face various problems. The reason behind this is that, as these companies are much experienced about the variety of contracts and have greater practical knowledg e regarding the exploitation of natural oil and gasses. The oil companies are highly motivated towards the act of negotiation. Thus, they tend to decrease the costs. This process of negotiation is tailored by the oil companies based on the political condition of the specified country (gustafson, 2012). The process of negotiation of the oil companies is very inflexible, cynical and aggressive. Thus, the contract of negotiation should be done in a proper and systematic way. Development of natural resources: There are three different ways to develop the natural resources of the country by the government; these are as follows Firstly, different foreign companies can be invited by the government of a particular country having its natural oil and gas resources for the exploration and in the process of exploring the government of the specified country should help (hults, thurber and victor, 2012). For example, countries like canada, russia, and united kingdom have applied this methodology. Secondly, for better exploration, the government of a particular country should create new state companies if the government has the capability to invest in establishing new companies (looney, 2012). As this would help the government of the country economically by providing chances of better exploration, much production, and high development. For example venezuela, oman, mexico and saudi arabia have applied this methodology for their economical improvement. Lastly, some countries like nigeria, kazakhstan, and indonesia might apply the combination of both the ways. The parameters of negotiation: The process of negotiation is of high interest for the shareholders. Thus, the size of shareholders is also huge in the worldwide. But the governments show lesser interest or pay lesser interest in the negotiation process. The share holders are more concerned about the negotiation process than the producing countries of natural oil and gasses. Thus, the governments appoints some experts like technical engineers of the related field, lawyers for their legal knowledge in the related field and many more for handling the complex issues (muttitt, 2012). Direct negotiations are done in oil contracts. Negotiations are occurred on indecision as an oil contract is consisted of many complex issues. These types of indecisions are occurred due to the improper awareness of probable oil field, dissociation of the partner of negotiation, or the inability to make predictions of the future. The negotiators who are expert in the field know that the presence of a weak point is common whatever might be the situation, and by using that properly, they get a high chance to win (nikiforuk, 2012). Various types of issues should be considered during the negotiation of the oil contract, these are the costs of exploration, dynamic nature of the existing market, estimated size of the fields and many more, as the list is never ending. To determine the importance of each and every issue of the negotiation of the oil contract, proper judgments and expertise is the most important criteria. As these qualities would help to strike a balance such that the variou s contracts could be made nonidentical to each other. Different issues of the process of negotiation: There are mainly two major types of issues regarding the process of negotiation. These are the zone of conflict and the factors that are not usually paid attention during the process of negotiation. These include the social, political, economical and environmental factors of the specified country. Generally, any particular company spends about 90 90 % time in this particular zone (ross, 2012). This particular zone makes the company to feel that they are in control and thus recruits especially skilled employees. Dealing with indigenous communities: The negotiation of oil is of great importance to different groups of individuals. These individuals might include the surface land owners, indigenous communities and many more. The negotiation of oil is of great important to the indigenous communities because they started to demand for compensation for the usage of their personal property and also for creating disturbance. Formally, these groups are not the main part of the process of negotiation, but still both the principal parties of contracts that is, the governments and the oil companies have to consider their demands in the process of negotiation (larson and smajgl, 2012). Through the process of negotiation, the demands of these local communities are settled down. Their demands mainly composed of offers of jobs or compensation. Thus, the oil companies make commitments that they would provide employment to local peoples in mass as labors and also to give back support in the development process of the local communities. These ne gotiations are heated many times and thus are very time consuming. Time factor: The contracts of oil are negotiated depending on the factors of time responsiveness. These factors include the present political, environmental, social and economical factors in the host country, the probability of variation of these factors in near future, and the current situation of the market regarding the oil price. The terms and conditions of an oil contract should contain the ability to survive the time challenge by the method of anticipation of foreseeable as well as unforeseeable changes and demand. For example, the country norway is known well for its instability, thus, it introduces tax regimes in the favor of the oil companies with the aim to attract the oil companies to invest in the geographical challenging and uncertain terrains (wittcoff, reuben and plotkin, 2013). But norway did not put its future in the endanger by making the rule of taxes permanent and the tax rates were raised within three years. To make the contracts more reactive in the changing world is the on ly way to deal with the problem of insufficient arrangement effectively and efficiently. The stability should be drafted in such a way that the oil companies should be compensated for the various changes of rules and regulations in the law which takes place frequently. The oil companies would not be established in the countries if they have to suffer loss due to the change of laws in the specified country (schwarzenbach, 2012). For example, if a country implements new law regarding the development of the environment, then the cost of the oil companies would increase due to various process of refining the waste materials of the company. This make the company to run in loss, thus, these companies of oil are usually exempted from such developmental laws. And if exemption is not possible by the government, then the government would itself reimburse the compliance cost of the specified oil company. The clauses of stability are used by these companies to get exemption from the application of the rules and regulations of the laws of the host country (guo and ghalambor, 2012). E ven the jurisdiction of the courts of such country is not applicable to the clauses of stability. Expert negotiators: The government of a specified country has to face various problems regarding the selection of personnel who would be the representative of the negotiating team. Negotiation is a process of art, thus, it requires good tactics, effective plan and the capability of segregation of various negotiable factors like compensation from non negotiable elements, such as addressing and consideration of the concerns of the oil companies, and regulation concerned matters (kartashov et al., 2014). It is obvious that, at the time of negotiation with the government of the country, the oil companies are under the guidance of any circumstance in a better situation like finance, skills, and preparedness. But the developing countries which are enrich with natural oil and gas resources do not consist of sufficient legal, financial and technical knowledge. Generally, the negotiations are considered as the one time investment in the developing countries. Therefore, they intend to hire negotiators who are skilled, dedicated as well as independent, such that they could understand the footing of the oil companies (jacobson, 2008). Most of the times the oil rich developing countries overlook the importance of employing expert negotiators for the process of negotiation. The contracts of oil require advice of expert negotiators as they are only capable of covering the broad range of complicated factors. The main focus of a oil contract should be to reach reasonable and agreeable balance such that, the interests of both the government of the country and the investor company get fulfilled (lewicki, barry and saunders, 2011). For making the negotiations successful, the advices of the expert negotiators are mandatory. Conflict of interest: The government of a country faces various conflicts of interest regarding the negotiation of the contracts. The government is acting as a protector of the interest of the public by applying its power of regulation on one hand and on the other, it acts as the signatory to a commercial oil contract as a business personnel with the aim of maximization of profit. The government has to also create a friendly environment for investment, such that the investors are magnetized which would help in creation of employment and also enhance in the growth of economy of the specified country (mannix, neale and overbeck, 2011). Therefore, on one hand, the intension of the government is to maximize its profit from negotiation of the oil contracts and on the other hand to locate objects for its own regulations. In developed countries, this type of problem can be managed but in the developing countries it is hard to manage. Transparency: The objective of the negotiators is to maintain transparency in the negotiation process. The reason behind this is that, to increase the acceptability of the oil contracts by the general public of the country to keep or to maintain transparency is the key element (bayne and woolcock, 2011). Transparency is defined as the disclosure of the contractual terms and conditions and also the consideration paid through certain factors which should remain confidential for a particular period of time in terms of negotiation of oil contracts. Transparency also helps to avoid corruptions which might occur in the oil contracts. It only helps to prevent the officials of the government to accept or implement such terms in these contracts that might cause criticism from the citizens. Types of contracts: The types of contract are an essential matter for the government of the country. The decision regarding the form of contract is the most necessary part of the development of the resources of the country. Generally, the oil companies and the government of the country like to adapt four specific types of contract during the formation of the agreement. These are as follows: Joint ventures: When two or more parties want to enter into an agreement through the undertaking of joint venture, then only joint venture can takes place. Both the parties of the joint venture should understand all the ways by which each of the parties could conduct their business, their interest and also their aims and objectives (ward, 2012). However, if this understanding is not available among the parties of the contract, then it is impossible to come up with the agreement of joint venture. As the joint venture is an open ended contracts, both the governments and the oil companies do not show interest in entering the agreement of joint venture. Advantages: The only advantage the government of the host country can avail is that it does not have to make and take decisions on its own but also it can take help of the experts of the oil company. According to this type of contract, the government of the country has to share its profit with the oil company. Disadvantages: In this type of contract, the government of the host country has to directly take part in the oil extraction process Production sharing agreements: The acronym of product sharing agreements is psa. According to psa, the ownership of oil lies with the citizens of the country and it cannot lie with any of the private entities. Though the cost of operation of the oil field and the management and also the associated risks lie with the oil companies. According to this agreement, the government of the specified country has to reimburse the oil company as operating expenses (orsi, 2012). The taxes which fall under its share have to give by the oil company but the government of the particular country waives these taxes and thus is included in the share of profits of the government. The laws of the country would bring success to the application of psa. Advantages: The oil company bears all the risks. Even any loss would also be bear by the oil company thus there will be no effect on the government. Disadvantages: Psa is an inclusive document, thus its very nature acts as a disadvantage for the government. License: In the year 1900s license was introduced. These are mainly one sided contracts. In the current years, these contracts serve the exclusive rights for development, exploration and sale and export of minerals of the oil companies (progoff, halpern and yang, 2012). For acquiring such rights, the oil companies offer signing bonus. Advantages: These contracts are straight forward, thus it is considerable in developing countries. Disadvantages: The commercial aspect of the contract is the main disadvantage. Risks are associated with the price of license. Service agreements: This type of agreement provides disbursement for particular tasks or services. The main disadvantage of this service agreement is that it cannot be used in long run. Conclusion: The oil producing countries should possess the professional knowledge for negotiation of oil contracts with international oil companies. The process of negotiation should be open at same time. The companies have to make the oil companies feel that they would be treated fairly. The sense of fair treatment and fair return would also prove to be beneficial in the long run for the international oil companies in the large competitive market. References Bayne, n. And woolcock, s. (2011).The new economic diplomacy. Farnham, england: ashgate pub. Chalmers, d. (2012).History of the standard oil company. Dover publications. Grant, t. (2012).International directory of company histories. Detroit, mich.: st. James press. Guo, b. And ghalambor, a. (2012).Natural gas engineering handbook. Burlington: elsevier science. Gustafson, t. (2012).Wheel of fortune. Cambridge, mass.: belknap press of harvard university press. Hults, d., thurber, m. And victor, d. (2012).Oil and governance. Cambridge, uk: cambridge university press. Jacobson, h. (2008).Culture keeping. Nashville, tenn.: vanderbilt university press. Kartashov, m., ignatova, a., fedoseeva, e. And ignatov, m. (2014). Characteristic nonmetallic inclusions in welded joints oil and gas of pipelines.Ogbus, (2), pp.80-94. Larson, s. And smajgl, a. (2012).Sustainable resource use. Hoboken: taylor and francis. Lewicki, r., barry, b. And saunders, d. (2011).Essentials of negotiation. New york: mcgraw-hill/irwin. Looney, r. (2012).Handbook of oil politics. London: routledge. Mannix, e., neale, m. And overbeck, j. (2011).Negotiation and groups. Bingley, u.k.: emerald. Muttitt, g. (2012).Fuel on the fire. New york: new press. Nikiforuk, a. (2012).The energy of slaves. Vancouver, bc: greystone books. Orsi, j. (2012).Practicing law in the sharing economy. Chicago: american bar association. Progoff, s., halpern, m. And yang, j. (2012).Understanding the intellectual property license, 2012. New york, ny: practising law institute. Ross, m. (2012).The oil curse. Princeton, nj: princeton university press. Schwarzenbach, r. (2012).For climate's sake!. ZuÃÅ'ˆrich, switzerland: lars muÃÅ'ˆller. Ward, d. (2012).Contract negotiation handbook. Hoboken [n.j.]: john wiley sons. Wittcoff, h., reuben, b. And plotkin, j. (2013).Industrial organic chemicals. Hoboken, n.j.: wiley.