How NAFTA has affected the financial service industries in the United S

The North American Free Trade Agreement (NAFTA) was enacted in November of 1993 with aims to facilitate the free flow of goods, services and labor between the United States, Canada and Mexico. The ratification of NAFTA created the world’s largest free market with roughly 390 million consumers and an estimated total output of $8.6 trillion. Clearly, this trade alliance has had a major influence on the financial service industries of the participating nations and will continue to do so in the future. However, the financial service provisions of NAFTA will have sufficiently greater implications for Mexico than either the United States or Canada. This is in part because Mexico is embarking upon a greater shift towards openness in its financial service industries. The fact that the financial markets of Canada and the United States have been highly integrated prior to NAFTA implies that they will not benefit as much from transactions within their own markets. What’s more, Ca nada’s trade with Mexico is 1 percent of its trade with the United States. However, the principal gains from financial integration of this sort have largely to do with the more efficient allocation of capital across international boundaries and the more efficient provision of domestic financial services to consumers.   Ã‚  Ã‚  Ã‚  Ã‚  The primary gains to the United States from the NAFTA financial services agreement will be predominantly seen in the long run. The access to a market that includes 90 million people and has been served by a financial and banking sector that has been relatively inefficient and illiquid will prove to be a major advantage to the United States. Although the market access to Mexico’s financial industry has been gradual, U.S. banks, insurers and financial companies have free and fair access to Mexico. Further, in contrast to Canada, the United States has had strong historical ties with Mexico and this familiarity is expected to provide an advantage to the United States in Mexico. In the years to come, further growth of business for U.S. banks and financial institutions because of NAFTA can be expected.   Ã‚  Ã‚  Ã‚  Ã‚  A key impact of the financial services sector is that U.S. banks and financial institutions will be forced to improve their competitiveness. The McFadden Act (1927) and the Glass-Steagall Act (1933) limited branch-based banks an... ...a hemispheric bloc, although experts estimate that an expansion throughout Latin America will take much time and resources due to political maneuvering. Regardless, the implications of such an agreement will most assuredly impact the economies of all countries involved in a dramatic and unparalleled fashion. REFERENCES Crary, D, â€Å"Royal Bank of Canada and Bank of Montreal Plan Merger†, Associated Press, January 23, 1998. Chant, J, â€Å"The Financial Sector in NAFTA: A Trinational Analysis†, S. Globerman and M. Walker, 2000. Gonzalez-Hermosillo, B, â€Å"Financial Integration in North America† Paper presented at the session â€Å"Capital Mobility and Financial Integration in North America,† Allied Social Science Associations annual meetings, Boston (MA), 3-5 January 2001. Wonnacott, R.J. 2000. â€Å"The NAFTA: Fortress North America?† Commentary (C.D. Howe Institute), no. 54:1-18. White, W.R. 1999. â€Å"Some Implications of International Financial Integration for Canadian Policy† Technical Report No. 57. Ottawa: Bank of Canada. Garber, P.M. and Weisbrod, S.R., Opening the Financial Services Market in Mexico†, The Mexican-US Free Trade Agreement.   Ã‚  Ã‚  Ã‚  Ã‚  

Operational Functions and the 4 P’s of Marketing

Lecture 1: Introduction to Marketing Marketing is the management process responsible for identifying, anticipating and satisfying customers† requirements profitability. Peter Drucker ‘there is only one valid definition of business purpose: to create a customer†. At its simplest, if you do not have any customers for the product or service your organization offers, then there is no reason for continuing existence. Consumption is the sole end and purpose of all production and the interests of the product ought to be attended to only so far as it may be necessary for promoting those of the customer. The operational functions of marketing: sales promotion, advertising, public relations, selling, financing, buying, forecasting, pricing, standardization, publicity, merchandising, market research, transporting, risk-taking, servicing and stockholding. Elements over which organizations have control and which are used to try to influence customers to choose one particular organization in preference to another are generally termed the marketing mix. External factors in the original marketing mix: customer-buying behavior, trade behavior, competitors† position and behavior, government regulations. Originally there are 12 P†s of marketing but this list is not easy to remember and it should be obvious why Jerome McCarthy condensed the 12 items in Borden†s original marketing mix, into 4 major categories popularized the ‘4 Ps†. The internal variables are therefore loosely grouped together under the headings of: product, price, place (the offer mix), and promotion (the promotional mix). While the ‘4 Ps† is a useful framework, a vigorous debate has taken place over the last decade about the dangers of seeing marketing solely as the control of the ‘4 Ps†. In fact it is a trap that tends to make suppliers forget the needs of customers as well as the importance of a mutually beneficial exchange. There is a suggestion of the addition of three other Ps: Probe (research), Partition (segmentation) and Position. Lecture 2. The Marketing Macro Environment. Both of the parties making an exchange are more likely to consider that the exchange has been beneficial when the exchange has been made within the context of what is known as an Open Market. This is a market which has all of the following characteristics: 1 Single homogeneous product, 2 Many buyers, 3 Many sellers, 4 Buyers and sellers have equal access to all available information relevant to the market. All developed societies have similar regulations to regulate legal trade. It is therefore usual for manufacturing and trading organizations to have to comply with such regulations, which effectively constitute one aspect of the environment in which an exchange takes place. These factors are for this reason referred to as the environmental variables of marketing. These are usually labeled the Economic, Social, Technological and Political variables (STEP). Companies should seek to demonstrate good corporate citizenship by upholding the letter and the spirit of the law, and generally behaving in a responsible and responsive manner. Some markets and trades have developed general voluntary codes of conduct and control, supported and monitored by a central membership body. Medicine for example has long been controlled by strict codes of professional behavior. Governments have developed a body of legislation and enforcement frameworks in respect of industry and trade. In particular, the following areas of control are of direct concern to business. 1. Legislation in respect of monopoly and competition standards. In the UK it†s done through the Office of Fair Trading and the Monopolies and Mergers Commission. As a full EC member, the UK is also subject to Community provisions in respect of issues: in particular Article 85 of the Treaty of Rome concerns practices hindering competition. 2. Measures to protect consumers, whether as groups, individuals, as users of certain products and services, or particularly as targets for business activities. Relevant legislation has included the Trade Descriptions Act 1973, the Consumer Credit Act 1974, etc. Number of these statutes introduced measures directly relating to marketing practices such as pricing claims, warranties, product quality, etc. The economic environment is a complex network of international, domestic and regional influences and dependencies that shape the market potential facing companies. Company performance itself will depend critically on the quality of preparation and decision making is brought to bear on this potential. The significance of the economic data is that over time they will indicate major economic developments of direct interest to marketers. Such ‘economy-watching† may enable the vigilant company to respond in time to scenarios such as following: 1.Recession. A downturn in economic activity of variable intensity. Usual indicators will be a fall or leveling in GNP, GDP, household income, etc. Rises will be recorded in measures such as stock, unemployment and company bankruptcies. 2.Recovery. The opposite of the above. Marketers in some sectors will benefit from an early upturn in sales. Major upturns in economic activity may result in ‘overheating† with higher costs and prices. 3.Inflation. Rising prices may be associated with buoyant conditions, demand growth and shortages. Economic policies are likely in future to be more directly influenced by multilateral agencies and agreements (UN) and the expansion of common market blocs such as the EC. Culture within any society id the complex of elements that reflect the society†s beliefs and values, preferences and behavioral norms. For marketer it is necessary to understand that culture will vary within and between societies, so those cultural norms may vary between countries, regions and culture groups. Factors, which distinguish a society, change very slowly, as they are the products of family upbringing, the education system, national history and political development, religion, etc. Environmental awareness is an interesting reflection of how society-wide concerns have delivered a powerful message to governments and business leaders. Technology is the touchstone of economic progress, a leading source of competitive advantage commercially and an indispensable part of everyday lifestyle for the modern consumer. To illustrate the competitive force wielded by technology, it is worth observing that many manufactures have been affected by technology developments remote from their own field. Major sectors of the metalworking industry were obsolete by the developments of digital electronics. Eg typewriters. Technological developments decrease the price of production. Technologies have also enabled an increase in the variety of products available to customers. The marketing environment comprises the playing field upon which competitive marketing takes place. Companies need to monitor and decide rational responses to changes in the environment in order to win their colors. There are three types of companies: those who make things happen; those who watch things happen; and those who wonder what happened. Lecture 3: Markets and Market Segmentation. 1.A market is an aggregate of people who as individuals or organizations have needs for products in a particular product class and who have the ability, willingness and the authority to pay. – Consumer – where purchasing is done by private or group of individuals. – Industrial – products and services are bought for one of 3 specific uses: 1- resale, 2- producing other products, 3- products used in general eg administration, computers. 3.Differentiated markets. – Consumer needs are not the same: – homogenous, differentiated. Undifferentiated market – all needs are the same 4.Criteria for effective segmentation – measurable, – economically variable. Geographic – geographic position on the globe. Demographic – basis for the collection of many government statistics and the standard system used by the media industry. Includes age, sex, family cycle, and socioeconomic segmentation.

Leadership police

The police force in the US is one of the most controversial departments of the criminal justice.   The nature of duties assigned to the police requires high sense of responsibility, discipline, integrity and openness.   As law enforcers, police are supposed to adhere to a strict code of ethics which spells the do’s and don’ts for police officers in the course of executing their duties and their general conduct especially with the public, victims and offenders.   This paper discusses leadership issues affecting police in an effort to analyze how leadership of the police affects job performance for the police officers. Barbuto, (1997) defines leadership as the offering of guidance and motivation to subordinates in an effort to get things done.   Leadership is very central to the performance of an organization as it is viewed as the engine of an organization.   Good leadership leads to increase in job performance due to highly motivated staff.   In addition, good leadership creates an environment ideal for a team spirit to thrive something which eventually leads to achievement of organizational or group goals (Bass, 1999). On the contrary, poor leadership brings about low morale in the team as well as low job performance compared to the situation whereby a good leadership results into a synergetic effect which is lacks when subordinates lack a sense of direction and therefore end up pulling in different directions (Sparrowe, Soetjipto, & Kraimer, 2006).   A job as a law enforcement requires team spirit because of the fact that most missions call for execution by teams. To be able to achieve the desired results, team members have to connect well, resolve conflicts in a positive manner and adhere to the stipulated code of ethics (Cothern, 2006).   Law enforcers are required to particularly function in accordance to the code of ethics, given the fact they are subjected to a lot of scrutiny by the media, and watch bodies, such as human rights bodies.   On top of the above, police officers are expected to demonstrate high public relations and communication skills. This guidance is supposed to come from the top leadership.   How communication is done in the law enforcement department can have a bearing in the performance of the law enforcers especially those dealing with K-12 level students where a lot of scrutiny is directed at by concerned parents who constantly want to be assured of their children’s safety.   Poor leadership leads to low moral in the work force something which results in poor job performance hence poor service delivery to the public (Neider, & Schriesheim, 1996).   This has both direct and indirect associated costs to the citizens given the fact that, the law enforcers are responsible for maintaining security, law and order in the society. Therefore, a less motivated workforce has implications on rate of crime as well as rise in insecurity.   In an increasingly free market economy, law enforcers who may feel uncomfortable with poor leadership are likely to quit job and join private companies or other government departments of their choice.   There is a need for good leadership inorder to avoid the high officer turnover which is very costly to the government given the high cost of training officers which is usually borne by the government. Poor leadership in the law enforcement department results in poor team spirit and therefore defragmentation.   This is risky especially in this post 9/11 era whereby the police force must remain as intact as possible to avoid infiltration.   Competency, unity and commonness of purpose is what is highly required in the police force.   Several measures can be taken to ensure the above is achieved. Conclusion Such measures include motivation of officers through introduction of incentives such as pay-for-performance, career growth and development opportunities, protection from victimization, provision of an enabling job environment such as modern crime control equipment as well as improving the quality of life of officers through pay increases.   All the above are only possible if the police department is going to embrace good leadership strategies by adopting hybrid leadership methods and perhaps depart from the rigid and conservationist bureaucratic leadership which is highly centralized. References Barbuto, J., (1997). Taking the Charisma Out of Transformational Leadership.   Journal of Social Behavior & Personality, 12(3), p. 689-697.   Retrieved February 26, 2007, from EBSCOhost database. Bass, B. M. (1999).   On the taming of charisma: A reply to Janice Beyer. Leadership Quarterly; Winter 1999, 10(4), p. 541-553. Cothern, C. (2006). Leader’s Insight: Leaders’ Top Three Mistakes.   Christianity Today International/Leadership Journal. Neider, L. & Schriesheim, C. (1996).   Path-goal leadership theory: The long and winding road. Leadership Quarterly,  ­7 (3). Sparrowe, R., Soetjipto, B., & Kraimer, M. (2006).   Do Leaders’ Influence Tactics Relate to Members’ Helping Behavior? It Depends on the Quality of the Relationship.   Academy of Management Journal, 49(6), p. 1194-1208.

Structure Of Constitution Essays - Politics, Veto, Free Essays

Structure Of Constitution Essays - Politics, Veto, Free Essays Structure Of Constitution The Structure of the Constitution In 1787, the United States of America is finally starting to develop into a true nation. The Framers of the Constitution realize that the country needs a government that is not over-bearing but is not to liberal. Knowing this, the Framers structured the government in a specific way. First, they made different federal and state powers. Next, they placed the separation of federal powers. Third, the Founders created Congress. After this, a president was chosen. Federal courts were the last structural clause in the Constitution. The Writers wanted to separate the powers into different levels. The first level is called the federal government. This is where the power is shared among state and national delegates. The federal government is broken into different powers. Powers that are reserved for the states to choose laws, such as in the educational purposes. Other powers are reserved for the country as a whole to vote on, like declaring war. This was a smart move because it made the states feel like they have a voice. In some cases, though, the nation had to use both powers as one. These issues, such as collecting taxes, are called concurrent powers. The nation could not give to much power to any one group or person. The Constitution create a separation of powers. This gave the three branches of the government, the legislative, executive, and judicial branches, their own area of authority. The Constitution then gave each branch the right to stop, or check, the others in certain ways if they did not agree with the what the other is doing. The president can veto any acts of Congress. The executive branch is balanced. Which means they can overturn a veto with Congress with two-thirds vote of each house. This practice is called checks and balances. The Constitution also had to limit the control people had over the government. In a comparison of the House of Representatives and the Senate demonstrates this effort at balance. The population of the state determines the number of seats a state has in the House. The members of the House served a two-year term so the members could change their representatives quicker. The Senate was elected by the legislatures instead of the voters. This senators served six-year terms. This limited the peoples power on the impact on the Senate. This was done so to escape from different opinions in the Senate. If the Senate was not as much part of the people it would not be as easily influenced by popular opinions. The Senate is in charge of creating laws, so this kept from bad laws being passed because of these opinions. The House and Senate together made the most powerful body in the nation. Congress had control of money matters, warfare, and commerce. The Framers of the Constitution thought that there had to be someone in charge of the country. One person who would handle armed forces and could also veto any acts. This person became the President of the United States of America. The President would be chosen by Electors in each state. The house of Representatives would have the final say in who became President. The judiciary branch was another important part to the Constitution. It called for a national court system. The members of this court system were chosen by the President. The judges were chosen by the President. Judges could not retire. They were to be justices for life. These courts were known as the Supreme Court. Bibliography America Past and Present Textbook. prentice Hall

30 Wordy Phrases Beginning with In

30 Wordy Phrases Beginning with In 30 Wordy Phrases Beginning with â€Å"In† 30 Wordy Phrases Beginning with â€Å"In† By Mark Nichol Among the scores of verbose constructions that can be whittled down (usually) to one word with no loss of, and often with a net gain in, clarity are those phrases in the following sentences beginning with in. The replacement words are not necessarily the only (or the best) choices, and the sentences could be further refined, but employ this list to help you be on the lookout for that is, be aware of phrases like the ones presented below. They need not be automatically excised, but examine your writing for an abundance of such prolixity, and revise at your discretion. 1. Please submit your report in advance of the meeting. Please submit your report before the meeting. 2. We received a check in the amount of $1,000. We received a check for $1,000. 3. We’re implementing this policy in an effort to streamline our process. We’re implementing this policy to streamline our process. 4. Which section is this question in connection with? Which section is this question about? 5. Do not use in excess of the recommended dosage. Do not use more than the recommended dosage. 6. Are you in favor of the new system, or do you oppose it? Are you for the new system, or do you oppose it? 7. Use Form BFF in lieu of Form OMG. Use Form BFF instead of Form OMG. 8-9. Improvement will be noted in most cases (or instances). Improvement will usually be noted. 10. They have changed the procedure in order to reduce the necessary steps. They have changed the procedure to reduce the necessary steps. 11. She is attending the meeting in place of her vacationing supervisor. She is attending the meeting for her vacationing supervisor. 12. I am in possession of damning evidence. I have damning evidence. 13. They are in proximity to the epicenter. They are close to the epicenter. 14. We are in receipt of your letter. We received your letter. 15-17. I wasn’t sure what the question was in reference to (or regard to or in relation to). I wasn’t sure what the question was about. 18. You will notice these side effects in some instances. You will sometimes notice these side effects. 19. In spite of the fact that the box was clearly labeled, he could not find it. Although the box was clearly labeled, he could not find it. 20. In terms of reducing costs, the strategy has been a failure. The strategy has been a failure in reducing costs. 21. In the absence of Smith as manager, Jones was left in charge. Without Smith as manager, Jones was left in charge. 22. In the case of duplication, rename the older file and place it in the Archive folder. If duplication occurs, rename the older file and place it in the Archive folder. 23. We were speaking in the context of yesterday’s discussion. We were speaking about yesterday’s discussion. 24. In the course of the session, little progress was made. During the session, little progress was made. 25. In the event that no decision is made, the current procedure will remain in effect. If no decision is made, the current procedure will remain in effect. 26. In the final analysis, it is up to us to decide. Ultimately, it is up to us to decide. 27. He will return in the near future. He will return soon. 28. It took in the neighborhood of two weeks to complete. It took about two weeks to complete. 29. They are in the vicinity of the headquarters now. They are near the headquarters now. 30. In view of the fact that you suggested it, I think you should propose it. Because you suggested it, I think you should propose it. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Writing Basics category, check our popular posts, or choose a related post below:Cost-Effective vs. Cost-EfficientAnyone vs. EveryoneCaptain vs. Master

Country Comparisons Assignment Example | Topics and Well Written Essays - 750 words - 1

Country Comparisons - Assignment Example Japan has been experiencing declining birth rates together with low immigration rates over the last few years which have greatly contributed to the low population growth rate. Japan’s population is estimated to decline over the next coming years by about one million people each year (Connelly, 2008). United States has the best performing economy in the world with an annual average Gross Domestic Product of US$ 5337.70 billion. According to CIA World Fact book, United States GDP for the year ended 2011 was estimated at 17720 billion US dollars. This GDP has an annual average estimate growth rate of 3.25% with a 1.6% growth recorded in the year 2011 over 2010. Japan on the other side, has an annual Gross Domestic Product of US$ 2266.10 billion with an annual average growth of 2.15%. According to the CIA World Fact book, Japan’s 2011 GDP was reported to be US$ 5855billion with a growth of 0.6 percent over 2010. This shows that both countries have a high GDP as well as high growth rates (survey 2003), (CIA). Japan was reported to have a high per capita income of $39310 in December 2010. The average per capita income over the last few years has been $26593.62. United States on the other hand has an average per capita income of $25892.70 with $37,527 recorded for 2010 which is slightly below the Japan’s (Greenaway, 2012). United States has had an average inflation rate of 3.38% while Japan has had inflation rate of 2.97%. Japan recorded 0.3% inflation in February 2012 whereas United States recorded a 2.7% in March 2012 (CIA). Due to the adoption of China’s one-child policy, the population is reported to have a low population growth rate of 0.47 percent. This policy is the reason why the population consists majorly the aged. China is the most populous country in the world 1,226,718,015 people. This consists 20% of the world’s population.

Public Economics Essay Example | Topics and Well Written Essays - 1250 words

Public Economics - Essay Example (a) According to Segura and Braun (2004, p.34), â€Å"a club good is a particular case of public good, which has the characteristics of excludability and non-rivalry (or partial non-rivalry, depending on the congestion).† It could never be a pure public good nor pure private good because it has the characteristic of least partly ‘rivalrousness’ and ‘excludability.’ Therefore, the usage of this good is exclusive for the club members (voluntary) and not for the good of the public, because if a good is already consumed by one of the members, the others will lose the opportunity, and the benefits are kept away from non-members (Murshed, 2010, p.153). The non-members are not allowed to assess, join and cooperate in the group because club members’ priority is to gain maximum utility over the certain goods. In other words, club goods are not public goods but they are a ‘quasi-public’ or partial public goods, for they are only made availab le to two or more individuals, and restricted or protected from the outsiders consumption or non-members that did not contribute to the club’s creation (Brummer, 2008). ... See for instance, a single individual will not have the capacity and the resources to build a club on its own, because it will shoulder the cost of the construction as well as the maintenance. Also, even if he did, the enjoyment will be more appreciated if it is shared to two or more people as long as the number of members did not detract the enjoyment of the other group members. A theory of club goods is â€Å"intrinsically bound up with issues of inclusion and exclusion, and hence, how members are selected and non-members excluded. This implies some notion of discrimination† (Crawford, 2006, p.121). â€Å"The important point here is that many government services are closer to the characteristics of club goods (or at least they are impure public goods) compared to pure public goods, particularly at the local level† (Murshed & Tadjoeddin, 2008, p.7). One of these services is higher education or universities which can be seen as a club good particularly the rising of the student tuition fees (Sandler & Tschirhart, 1997, p.336). Education itself is a club good because whose benefits are non-rival and non-excludable, thus it can be shared without detracting the availability of opportunity to other individuals. However, because of the rising student tuition fees poorer students would not be able to obtain the offered benefits of higher education, although it gives access to disadvantage students (Kershaw, 2010). This education that based on financial and not on academic ability is some kind of a restriction in the entry of poor bright students in an elite institutions or this can be considered discrimination. Withdrawal of the public funding would only make