Romantic Literacture Essay Example | Topics and Well Written Essays - 750 words

Romantic Literacture - Essay Example Romantics whether poets or painters, whatever the artist’s inclination was during the Romantic era; pursued their passions with the aim of stirring people’s emotions. Feelings are among the foci of Romanticism and they achieved this with the use of everyday circumstances that most of the people could relate to. For Coleridge and Wordsworth, perhaps one of their ideals was that literary works are worthless when they are not understood by their audiences and that they desired to touch the common people who were unable to appreciate poetry because of their social status. Before the Romantic era, poetry was for the rich, they were written for and by those who had the advantage of being educated and have the luxury of time so that the time of the two most prominent poets attracted ordinary people and actually started the birth of poetry in them. The subject matters during this period were about common events that ordinary people live, based from observations and experiences so that it purposefully allows the reader or listener to the poems or other literary works to be able to understand and ‘feel’ what the poem is all about. ... people observed by poets but also about those who lived around them, acquaintances and loved ones as well and other observations like Youth and Age which talk about the suggested topic. Other subject matters in this era is about feelings which are exemplified by the works of Coleridge like ‘Desire’, ‘Love a Poem’, The Presence of Love’ and ‘Dejection’ to name a few. Another important subject of the romantics is nature. One of the things that naturally stir up man’s emotions is nature whether beautiful or not, a good thing or a disastrous one, romanticism does not just focus on the good things but delves in the facts of life. This is one good argumentative point on the comment of Wu, as we look back to it saying the word romantic during the time of Coleridge and Wordsworth is fanciful. If it were, then the life they had then that was pictured in their poems was fanciful? In addition, those who live life with passion, emotions and as observed during those times, would then called fanciful as well? Probably, to understand more deeply the hearts of the Romantic poets, an individual has to put himself in that situation for him to be able to understand the reality of the situation before making comments that may degrade people who worked hard to establish their names. ‘Light’ is a word that shows how Wu has taken lightly the hard works of Romantic poets. It could have been hard work for them to have observed and meditated about the circumstances and events they wanted to write about so that it would entirely be insensitive for Wu to have referred to their works as ‘light’. Light for me is evasive which when we look into the Romantic literary works will not be evidenced by even one of them as the poets stuck to the objective of the era, that is to

Uberrimae Fides in Marine Insurance Essay Example | Topics and Well Written Essays - 1500 words

Uberrimae Fides in Marine Insurance - Essay Example This has left the concerned authorities to critically analyze the nature, history, application and scope of Uberrima Fides in Marine Insurance. In broader terms Uberrima Fides is used to disclose all the material that is to be traded through marines. For instance, as per this law both the parties i.e. issuer and receiver has to mention all the peculiar details to the insurer in order to certify that the traded material does not violate any of the marine insurance laws. Furthermore, there is full duty to the facts and figures of the disclosed material because majority of the information about enclosed material is kept hidden by the two parties. However, under this law they are obliged to mention each and every detail of the materials enclosed3. A lot of goods including machines, plants, household or commercial products are transported either by land, sea or air4. This merchandize incurs some transportation cost commonly known as fright charges and the law which covers all the indemnit y or destruction of cargo is the Marine Insurance. The Marine Insurance companies either operating privately or in association with the government agencies have to make certain that the goods they are transporting are not violating the rules and regulations of the marine transportation through any means5. For this purpose they make use of Uberrima Fides in order to seek details of the disclosed material from the applicants of marine insurance. Though it seems very simple to mention details about the disclosed material from the insurer’s point of view, yet it is a very complex and highly law governing procedure which needs to be done under the obligations set by Uberrimae Fides6. The duty of Uberrima Fides in Marine Insurance The Duty of Uberrimae Fides in Marine Insurance was created hundreds of years back by the British Marine Forces in order to keep check and ascertain the insurance of transported material through marines. As per the Marine Law, vestigial insurance is used so as to define Uberrimae Fides7. Since insuring the risk of damage and destruction during the cargo transportation is a crucial matter and involves high level of complexities therefore historically Uberrima Fides were used to insure that highest standards of Good Faith are maintained between both the parties. Moreover, on the economic grounds Uberrimae Fides provides protection to the insurers through which they are no longer in danger due to insuring some poor or damageable material8. For instance, when centuries ago British Marines were used to allow transportation of goods through sea there was no law to certify the risks of damage and the associated agencies were forced to rely upon the information provided by the issuer of goods. Hence, if during the sail some damages occurred then insurer had to compensate those damages. Therefore it was found necessary to make laws in order to obtain peculiar information related to the goods to be transported9. Nature of Uberrima Fides The n ature of Uberrimae fides is of pre contractual duty. It is an obligatory procedure by which both the parties have to make certain that the good they are issuing or receiving through marine transportation will not incur unnecessary damages and compensations to the marine insurance companies10. Uberrimae Fides is functioned somewhat in the same way as the misrepresentation is operated in fraudulent

U.A.E United Arab Emirates Essay Example | Topics and Well Written Essays - 3000 words

U.A.E United Arab Emirates - Essay Example There are very many cultural aspects that the UAE shares with other larger Arab cultures and their neighboring Arabic countries. The paper will review the history of United Arab Emirates based on cultures, traditions they celebrate, clothing, food and other historical aspects. In the early 19th century, the U.AE was inhabited by resourceful and proud nomadic Bedouin groups, date farms and fishing villages. Abu Dhabi had hundreds of Barasti huts commonly known as palm huts, several buildings and the famous Ruler’s Fort. Dubai, on the other hand, was the trading hub because it was geographically located along the creek. This ensured that it offered a safe haven against the Straits of Hormuz and others (Abdulla 58). The current UAE has very little resemblance to the Emirates that existed 40 years ago. Widespread changes have taken place across time and place, leading to rapid transformation of the country. Studies have shown that the UAE was in existence even in the 3rd millennium BC with its history being characterized by tribes that practiced fishing, herding, and nomadism. These constituted the primary economic activities in the region during the periods near the 3rd millennium. Bedouins were definitely the main building blocks and pillars of the UAE community. The term Bedouin refers to a desert dweller. Thus, Bedouins took the active part in the construction of the United Arab Emirates. These early desert dwellers moved between the desert, ocean and the oasis. The three environments were critical for their survival since they provided conducive conditions for their economic activities. When near the ocean they would concentrate on fishing and pearl diving when in the desert they would search for grazing areas for their herds and camels. When in the oasis the Bedouin tribe would irrigate and farm vegetables and dates. The luxuriant farms and terraced gardens found in the mountain Wadis and Al Ain are proof

Future of Tourism in Oman Essay Example | Topics and Well Written Essays - 1500 words

Future of Tourism in Oman - Essay Example There are many difficulties in the development of this industry, because the locals do not want to exceed the limits of a local tourism promotion and thus they are prevented from a global expansion. Tourism in Oman Oman has many different privileges. First of all, this country makes large investments in ecotourism and first class tourism and tourism in this country can be interested for both Western and Eastern tourists. Oman can assure tourists of the absence of corruption and there are many perspectives for business development in this country. Oman is opening its doors for tourists†¦ The spectators are so much attracted by the new territories and numerous sightseeing that the pleasure of exploring this country transfers the borders of traditional tourism. There is no doubt that Arab hospitality is legendary. People from those countries are full of hospitality and there is no doubt that the Westerners will be greatly impressed by a large number of attractions in this country. There are two million inhabitants in Oman and this is an independent state of the Arab world. Tourists are mainly attracted by â€Å"vast coastline, over a thousand miles long, stretching from the Strait of Hormuz in the Persian Gulf to the Yemeni border in the south† (The Seven Stars of the Gulf; Oman: Traditional Terraced Village Scubadiving off the Coast of Fujairah, 2009). Moreover, there are deep historic roots in this country. The Oman museum in Muscat is rather attractive for tourists and there is no doubt that people in this country are proud of their legendary heroes, such as Sindbad the Sailor, for example. There is an evident harmony between the ancient port of Muscat and modernization of this port nowadays. A feeling of cleanness and safety is everywhere. There are different perceptions of the northern and the southern frontiers of Oman. Thus, tourist from different countries can find the places to live and to visit with respect to their own interests (Martin, 200 5). Nevertheless, it should be noted that the most explored part of Oman, which is favorable for tourists is Salalah. Tourist agencies are attracting new tourists speculating on the following things: â€Å"waters are inviting, the sand the softest and silkiest, and the birdlife extraordinary, a visitor's guide cautions you against wandering away "while wearing a sea dress" (Beirman, 2003). Oman provides tourists with different opportunities of having rest. There is an essential technological impact exerted on Oman and the Western tourists can exert a serious negative impact on cultural, moral and social values in Oman (Richards, 1999). On the one hand, in the modern global world such issues as traditional clothes or color of hair can be different even among Omani people. In their hearts and souls these people are religious and they do not have any intention to change their religion or culture. There are many difficulties for Oman and its ability to adapt social and cultural changes with respect to the Western traditions and customs. With this respect, it can be claimed that countries around the world are interested in promotion and support of their interests. In case the residents of one country want to get acquainted with the values of people and nations from another country, there is no doubt that the former should be tolerant to another country and preserve historic uniqueness and dignity of another nation. There is a high cultural

Comparing Dostoevskys Essay Example for Free

Comparing Dostoevskys Essay Camus The Outsider and Dostoevskys Crime and Punishment have been compared extensively. These comparisons have been made mostly on the basis of the philosophies presented in the book. They are both so-called confessional novels, in which the central character goes through a change, which brings self-awareness or enlightenment. The existing comparisons have been focused on comparing philosophies, analysing the differences in them and the characters. It is thus logical to compare the books introduction to determine how well they present the book, what type of style is used and why, what foreshadowing is present. The beginning of The Outsider thrusts us directly into the plot, without any explanation, any description of any kind of surrounding. We are presented with facts: Mother died today. which are followed by the characters train of thought, which proceeds to take us through his discussion about the problems of loosing his mother, namely travelling fifty miles to Marengo, where the old-folks home is and having to take two days off work. The character whose thoughts we are presented with seems very detached from the emotional side of life. This can be reinforced with the representation of how he accepts his mothers death, in other words, he does not care very much, and he does not feel. His only concern is his personal comfort, such as the length of travel to Marengo, when Mersault is meant to be grieving his mother, he thinks that the old people sitting in silence were getting on [his] nerves. The character of Mersault is not presented to us in any way in the beginning of the book, so all the impressions that we receive originate from the characters own mind as it is that which we are actually reading. Such a way is an interesting approach to writing a book as it gives the reader some space in which to exercise his or her imagination. Dostoevsky, on the other hand, follows a slightly more conventional way of opening a book, he applies the third-person narration, but with one nuance which is important to the further development of the book: Dostoevsky intertwines Raskolnikovs internal monologue into the third person narration, providing aspects of events open to interpretation. Thus this book is fundamentally different from The Outsider, where we are provided with only one point of view on all that happens. The beginning does bear some introduction to The Outsider, though it is limited to the reader being thrust into the story, with the exception that it is not as abrupt. The type of narration facilitates the book in many ways, among them the description of the environments, which from the first page strike us as very descriptive, the heat was terrible, with humidity to make it worse; and the crowds of people, the slaked lime everywhere, the scaffolding, the bricks, the dust and the distinctive summer aroma familiar to every inhabitant of St.Petersburg . We do not have to think hard to imagine the character of Raskolnikov, as a very detailed description of his physical and psychological states and appearances are given by Dostoevsky himself in the first two pages of the book. he was remarkably handsome, with beautiful dark eyes and dark, chestnut-coloured hair . The hot, sad and loathsome environment of the summer in St. Petersburg are said to have had a shattering effect on the young mans already jangled nerves. These two books represent two very different approaches to the philosophy of existentialism, but as Crime and Punishment deals with other points such as the Napoleonic complex, an early form of Nietzsches i bermensch and religion, it seems to be more elaborate and complete. But as a purely existentialist book, The Outsider conveys its point very well. The beginnings of books can usually be used to judge whether a book is good at achieving its goals, and in this case the beginnings do give a clear indication of what is to be expected and it does not disappoint.

Needs Assessment of Public Sector Organisation

Needs Assessment of Public Sector Organisation Table of Contents Page 1. Introduction. 1 2. The needs assessment to be carried out. 1 3. The Context. 1 4. Why a needs assessment would be useful. 1 5. The Needs Assessment Plan. 1 a. Process Outline. 1 b. Data Collection. 2 c. Data Analysis. 2 6. Plan for Evaluation. 3 7. Ethical considerations. 3 Bibliography. 3 Appendices. 3 1.Introduction. A needs assessment is a systematic approach used to identify the gaps in the current position, the factors that affect the performance and the changes needed to get it to the desired position. To achieve this there needs to be a clear and thorough understanding of the people who will be involved with the system or product, the activities involved and the goal of the system. The people who are involved or the stakeholders may have differing needs and this along with any unforeseen requirements or gaps should be captured in the assessment. There are three phases to the needs assessment process, the first phase is to make a plan, second phase is to gather and analyse data, and third phase is identify solutions and report back. 2.The needs assessment to be carried out. To develop a suitable IT system to capture, track and trace all stages and aspects of projects, from proposal to completion. With clear indications of where and how these link into the strategic and workplans and ability to provide a clear audit trails of all stages, documents, sign offs and authorisations relating to the proposal. 3.The Context. This is for a public sector organisation with over 50% of its budget being spent on projects. The projects mainly consists of research work which are outsourced using tendering processes. The current process is very disjointed, with different software being used depending on the stage, department and personnel preferences. There appears to be incomplete document audit trails. The current system has been in operation for a long number of years. The system needs to be able to provide information to various stakeholders about the current state of play of the project. Relevant information needs to be captured from multiple sources including the financial system. The system needs to comply with statutory regulations, corporate governance, public sector and EU guidelines and directives, and have suitable constraints to protect confidentiality and commercially sensitive information. 4.Why a needs assessment would be useful. There appears to be gaps in the processing of information and possible lack of guidance on the steps or next steps to be followed. A needs assessment would collect information about the stakeholders, target group or groups. It would establish what needs are being met, resources that currently exist and determine what needs are not being met. Following analysis of this information a proposed system plan will be furnished within the agreed timeframe. 5.The Needs Assessment Plan. a.Process Outline. The first step is to study and become familiar with the agreed terms of reference as set out by management. This will define the objective, scope, and limitations of the needs assessment. It will establish the lead person and contacts within the organisation, the resource requirements, expected costs and time frame for completion. This along with familiarisation of the mission statement, strategic plan, organisation chart, workflow chart and infrastructure of the organisation will help develop an understanding or concept of the organisations needs. Assessing the capabilities of the current system and gaining a clear understanding of the future needs of the system requires a comprehensive analysis. This analysis will be both qualitative and quantitative. This data gathering process will consisting of workshops, focus groups, interviews, and system observation. These methods will be used to produce information to analyse options and design the best possible system given the available resources. The organisation is relatively small and is divided into six departments headed up by a Senior Manager. A stratified random sampling method will be used to focus on identifying stakeholder needs, and involve all stakeholder groups and get the views of all the right people. a.Data Collection. Workshop. Initially a workshop will be held with the objective of getting senior managers to articulate a vision of the ideal system. This exercise will be a half-day facilitated by a consultant. It will attempt to succinctly define the scope of the system, the long-term functionality that the system is expected to have, and the major issues that the existing or new system must address. Security requirements, risk assessments, online approval processes and reporting requirements will be identified. Focus Group. Following on from the workshop a focus group consisting of at least two section managers, two project managers and two clerical / administrative staff from each department will be convened. It is expected that this will take a half day but may require a full day. The focus group will be led by a trained facilitator. This group is selected to provide a representative group of users of the system. It will provide an opportunity to identify, difficulties, gaps, expectations and establish what is working with the current system and what they feel is needed to meet the objectives identified in the workshop. Whether the difficulties experienced are due to obsolete technology or ineffective policies and procedures. The focus group will also provide an opportunity for this group identify missing or needed functions. Interviews. A number of stakeholders will be interviewed as part of the process to gain further insight public sector tendering and procurement processes and thresholds. Board approval processes along with relevant EU guidelines and directives. These will be semi structured interviews with stakeholders who may not have direct or regular contact with the system such as the Audit committee chairman, Comptroller and Auditor Generals officer, IT and Finance Managers. System observation. In order to gain further insight into the context, tasks, goals and to fill in the gaps it may be necessary to observe directly how specific tasks are preformed currently. It will involve selecting random proposed projects and following all stages from start to finish taking samples and examples of reports produced, authorisation requirements, technology used, time taken for specific tasks, and difficulties encountered. This step may require the use of video and photography. c.Data Analysis The data will be analysed using a grounded theory approach. This will incorporate both the qualitative (e.g. themes, patterns, quotes, pictures, descriptions etc.) and quantitative data (e.g. number of projects, number of people involved in projects, budgets, time taken to perform tasks, number of software packages etc.) . The data will be extracted in a systematic way to develop a conceptual model of the system required. This will be an iterative process. The data extracted from the workshops will be transcribed first, read, coded using an axial coding system. This is a two-step hierarchically process that will divide the data into major categories and subcategories. This will identify the critical objectives, work flows, interactions and communications. This will form the basis for guiding the focus groups and interviews. Following further analysis of these in a similar fashion the data will be assimilated. Essential Use cases will be compiled to capture what the new system is expected to do. 6.Plan for evaluation. Once needs and requirements have been established the results from the data analysis will be presented in a report and charts summarizing the findings and an outline of a conceptual model of the system. Initially a low fidelity prototype will be produced. This will allow the stakeholders to evaluate the product and allow for redesign. It is expected that this will be an iterative process until a suitable product is. 7.Ethical Issues It is important that the rights and dignity of participant in the assessment are protected. Participant are to be fully informed about the assessment being conducted and the purpose of the assessment. It is important to encourage staff to participate in this assessment but they must do so willingly. All participants should be encouraged to speak freely without fear of being penalised. They may withdraw at any time or refuse to participate in any part. The confidentiality of all participants will be protected and they will not be identified in any reports or published documents. Bibliography. Cairns, P. Cox, A.L. (ed). (2008). Research methods for human-computer interaction. Cambridge, UK. Cambridge University Press. [Accessed online 20/1/2017] Preece, J., Rogers, Y., Sharp, H. 2016. Interaction design: beyond human-computer Interaction. 4th ed. Chichester: John Wiley Sons Ltd.

Push and Pull Factors in Business

Push and Pull Factors in Business Companies decide to go global and enter international markets for a variety of reasons, and these different objectives at the time of entry should produce different strategies, performance goals, and even forms of market participation. However, companies often follow a standard market entry and development strategy. The most common is sometimes referred to as the â€Å"increasing commitment† method of market development, in which market entry is done via an independent local partner. As business and confidence grows, a switch to a directly controlled subsidiary is often enacted. This internationalization approach results from a desire to build a business in the country-market as quickly as possible and by an initial desire to minimize risk coupled with the need to learn about the country and market from a low base of knowledge. International markets evolve rapidly and very often companies struggle to keep up in terms of their strategy. It is therefore reasonable to deduce that many companies’ international operations will consist of a collage of country market operations that pursue different objectives at any one time. This, in turn, suggests that most companies would adopt different entry modes for different markets. More commonly, however, is for companies to evolve a template that is followed in almost all markets. This usually starts with market entry via an indirect distribution channel, usually a local independent distributor or agent. Factors leading to wide acceptability of international business: The factors leading to the wide acceptability of international business are: Globalization of economics: The policy of liberalization was adopted which led to the globalization of various economics including the former communist countries and socialist pattern of the society. The globalization of economics has been instrumental in the growth of international business. Rapid technological advancement: Many firms have emerged up with innovated products or with improved process technology. With the demand for such products and technology being price-inelastic, these firms have moved abroad in order to reap large profits. The development of information technology has bought different countries closer and has encouraged firms to move abroad with the minimum of difficulties. Establishment of WTO: In today’s highly competitive globalized business environment, WTO is indispensable enables a country to attain the status of MFN clause which is required for scaling the international competitiveness and it implies that any concession given to any nation becomes available to all the member countries. Enlargement of European Union: Since 1991 the membership of EU has increased. It increased from 15 members to 27 members. This has also led to the promotion of internationalization of business. Increase in Competition: With increasing competition, firms have preferred not only to source raw material and intermediate goods from the least-cost country but also to set up their units in different countries, which minimises the cost of operation and reduces financial risk. The growing concept of cost minimization and risk reduction, with a view to surviving in a competitive environment, has led to rapid growth of the internationalization process. Higher growth rate of GDP in developing countries: Higher growth rate of GDP of China, India, South Korea, Singapore, Malaysia, Thailand, Brazil and Mexico and other developing countries has also been one of the significant factors for changing scenario of international business. Increase in business alliance In degree and variety: During last 15 years international business alliances, joint ventures, mergers, amalgamations and takeovers have occurred in the world by the companies of different countries. This has further led to widening of international business. Increase in educational and career orientation opportunities: These factors resulted in enhancement of opportunities for higher value addition in developing countries. The developing countries started attracting multinational companies to establish their businesses in their countries. Why companies engage in international business? There are several drivers of international business. The driving forces that motivate companies to go global can be classified into pull forces and push forces. The pull forces are proactive which pull the business to foreign markets. The push forces on the other hand are reactive forces which promote the companies to go international. Pull/ Proactive Forces- Attractiveness of the Foreign Markets: Profit advantage due to increase in volume: For companies, mostly in the developed countries, which have been operating below their capacities, the developing markets offer immense opportunities to increase their sales and profits. Low wage/ cheap labour attraction: Many multinational companies (MNCs) are locating their subsidiaries in low wage and low cost countries to take advantage of low cost production. Taking advantage of growth opportunities: MNCs are getting increasingly interested in a number of developing countries as the income and population are rapidly rising in these countries. Foreign markets, in both developed country and developing country, provide enormous growth opportunities for the developing country firms too. Growth of regional trading blocs: Regional trading blocs are adding to the pace of globalization. WTO, EU, NAFTA, MERCOSUR and FTAA are major alliances among the countries. Trading blocs seek to promote international business by removing trade and investment barriers. Integration among countries results in efficient allocation of resources throughout the trading area, promoting growth of some business and decline of others, development of new technologies and products, and elimination of old. Declining trade and investment barriers: Declining trade and investment barriers have vastly contributed to globalization. The free trade regime, business across the globe has grown considerably. Goods, services, capital and technology are moving across the nations significantly. Push/ Reactive Forces- Compulsion of the Domestic Market: Saturation of domestic demand: The market for a number of products tends to saturate or decline in the advanced countries. This often happens when the market potential has been almost fully tapped. For example, the fall in the birth rate implies contraction of market for several baby products. Businesses undertake international operations in order to expand sales, acquire resources from foreign countries, or diversify their activities to discover the lucrative opportunities in other countries. Scale economies and technological revolution: Economies of scale are reductions in unit production costs resulting from large-scale operations. The technological advances have increased the size of the optimum scale of operation substantially in many industries making it necessary to- have foreign market, in addition to the domestic market, to take advantage of scale economies. Technological revolution: Revolution is a right word which can best describe the pace at which technology has changed in the recent past and is continuing to change. Significant developments are being witnessed in communication, transportation and information processing, including the emergence of the internet and the World Wide Web. Domestic recession: Domestic recession often provokes companies to explore foreign markets. One of the factors which prompted the Hindustan Machine Ltd. (HMT) to take up exports very seriously was the recession in the home market in the late 1960s. Competition as driving force: Competition may become a driving force behind internationalization. There might be intense competition in the home market but little in certain foreign countries. A protected market does not normally motivate companies to seek business outside the home market. Government policies and regulations: Government policies and regulations may also motivate internationalization. There are both positive and negative factors which could cause internationalization. Many governments offer a number of incentives and other positive support to domestic companies to export and to invest in foreign investment. Improving image of the companies: International business has certain spin-offs too. It may help the company to improve its domestic business; international business helps to improve the image of the company. There may be the ‘white skin’ advantage associated with exporting- when domestic consumers get to know that the company is selling a significant portion of the production abroad, they will be more inclined to buy from such a company. Strategic vision: The systematic and growing internationalisation of many companies is essentially a part of their business policy or dtrategic management. The stimulus for internationalisation comes from the urge to grow, the need to become more competitive, the need to diversify and to gain strategic advantages of internationalisation. Importance of International Business: High living standards: Comparative cost theory indicates that the countries which have the advantage of raw materials, human resources, natural resources and climatic conditions in producing particular goods can produce the products at low cost and also of high quality. Increased Socio-Economic Welfare: International business enhances consumption level, and economic welfare of the people of the trading countries. For example, the people of China are now enjoying a variety of products of various countries than before as China has been actively involved in international business like Coca-Cola, McDonald’s range of products, electronic products of Japan and coffee from Brazil. Wider Market: International business widens the market and increase the market size. Therefore, the companies need not depend on the demand for the product in a single country or customer’s tastes and preferences of a single country. Reduced effect of Business Cycles: The stages of business cycles vary from country to country. Therefore, MNCs shift from the country, experiencing a recession to the country experiencing ‘boom’ conditions. Thus, international business firms can escape from the recessionary conditions. Reduced risks: Both commercial and political risks are reduced for the companies engaged in international business due to spread in different countries. Large scale economies: Multinational companies due to wider and larger markets produce larger quantities, which provide the benefit of large-scale economies like reduced cost of production, availability of expertise, quality, etc. Potential untapped markets: International business provides the chance of exploring and exploiting the potential markets which are untapped so far. These markets provide the opportunity of selling the product at a higher price than in domestic markets. Provides the opportunity for and challenge to domestic business: International business firms provide the opportunities to the domestic companies. These opportunities include technology, management expertise, market intelligence, product developments, etc. Division of labour and specialisation: International business leads to division of labour and specialisation. Brazil specializes in coffee, Kenya in tea, Japan in automobiles and electronics. India in textiles garments, etc. Economic growth of the World: Specialisation, division of labour, enhancement of productivity, posing challenges, development to meet them, innovations and creations to meet the competition lead to overall economic growth of the world nations. Optimum and proper utilisation of World Resources: International business provides for the flow of raw materials, natural resources and human resources from the countries where they are in excess supply to those countries which are in short supply or need most. Cultural Transformation: International business benefits are not purely economical or commercial; they are even social and cultural. It does not mean that the good cultural factors and values of the East are acquired by the West and vice versa. Thus, there is a close cultural transformation and integration. Knitting the World into a Closely Interactive Traditional Village: International business ultimately knits the global economies, societies and countries into a closely interactive and traditional village where one is for all and all are for one.