History of Philips lighting.
History of Philips Lighting It was the incandescent lamps demonstrated by Thomas Alva Edison in 1879 that fascinated Gerard Philips, just like many other people. It made Gerard Philips start to experiment with electric light. Financed by his father - Frederik Philips, who was a banker in the Dutch town Zaltbommel, near the river Waal - Gerard managed to set up the first Philips factory, now known as Philips, the multinational electronics company. In the first years of Philips Lighting, Gerard Philips was the man who took care of most of the jobs that had to be done. Next to the purchaser and salesman, Gerard did the developing, producing and acted as personnel officer. All these things were not enough to keep the business running. The only keyword for earning a living in the lamp business was: development. Obtaining constant quality was hard and therefore Gerard was often to be found in his laboratory. The actual formula for Philips in the last 100 years can be said in 5 words: "Research is the driving force". This has been of great importance in Philips' existence. Philips has benefitted a lot of scientific discoveries and inventions, made by themselves or quickly adopted from others. These scientific discoveries and inventions came out in 1914. Gerard Philips started a scientific lab, which became the place of foundation of many new technologies. At this NatLab the
![Describe the Harrod-Domar model of growth and With the use of economic theory, discuss the policies a government might introduce to promote economic development. [14]](https://mbt-essays-prod-public.s3.eu-west-1.amazonaws.com/12897/listing/12897_1.jpg)
Describe the Harrod-Domar model of growth and With the use of economic theory, discuss the policies a government might introduce to promote economic development. [14]
Elizabeth Wood Describe the Harrod-Domar model of growth [6] With the use of economic theory, discuss the policies a government might introduce to promote economic development. [14] The Harrod-Domar model was developed in the 1930's. The suggestion is made that high levels of savings are important to growth as savings provide funds, which can then be borrowed for investment purposes. The economy's rate of growth therefore depends on the level of saving and the productivity of the investments that were made. The productivity of investments can be summarised by the economy's capital-output ratio, e.g., if $5 dollars worth of capital equipment was required for $1 of annual output, the capital-output ratio 5:1 would exist. A lower ratio is more favourable, 4:1, would indicate that only $4 of capital equipment was needed to produce $1 of annual output. The model itself shows long-term growth. It tends to show that there will be no natural tendency for the economy to have a balanced rate of growth. Growth is split into different types and analysed accordingly. The overall conclusion of the model is that the economy does not naturally find a full-employment equilibrium. The policy implication of the conclusion is that the government has to intervene to try to manage the level of output with its policies. The above production possibility frontier summarizes the importance of
How would entering The Euro be good or bad for Britain's economy?
How would entering The Euro be good or bad for Britain's economy? Introduction: The Euro is one of the most controversial issues that has faced Britain in years. The idea has spilt the country, as well as government, into euro-sceptics and euro-philes. Much of the public believe that the pound is too strong a currency to lose, yet others believe that the Euro is the only way forward. However, many of the public do not know how it would effect our economy and judge on the basis of sovereignty or ideals of a single Europe. Background information: The Euro will affect all but the most insular of organisations in the UK in some way and could become one of the most complex strategic issues to be addressed to date. The manner in which existing markets will change over time cannot be predicted and organisations will need flexibility to change and adapt. The exact timing for organisations to take action will largely depend on their size, the sector they operate in and their levels of cross-border trading. Even though the UK has not joined the single currency, the Euro zone will have an effect on many UK businesses, especially those that buy and sell products throughout Europe. Some UK companies will use the Euro for buying and selling goods and services within the UK itself. There are many factors to be taken into account when analysing how The Euro would affect our economy,
Is the mix in the UK economy about right?
Is the mix in the UK economy about right? The UK economy combines factors of both a free market economy and one which is fully planned. This brings both advantages and disadvantages as it limits the power of market forces, but on the other hand restricts the influence the government has over supply and demand. Since the 1980s the government in the UK has steadily reduced its involvement in the economic system. This has been done through privatisation, which means handing over control of services to private companies and investors, for example British Gas or Railtrack. A free market economy revolves around the central concept of supply and demand. Consumers make individual decisions about purchases for their own self-interest whilst producers aim to make the largest profits by supplying exactly what the consumers desire. Resources are not allocated by the government or any state organisation but via the price mechanism. This means that the producers determine the supply and the consumers determine the demand, the combination of these two factors determines the price of a product. A key feature of a market economy is the freedom of choice and enterprise. This means that producers are free to obtain economic resources for use in production and are then able to sell their product in whichever way they choose. These people are known as entrepreneurs and are only seen in a market
Business at a Glance
Business at a Glance Tesco - the leading supermarket in Britain with small grocery stores under the Tesco Metro brand name, big supermarkets outside cities (Tesco Extra) and 24-hour stores, the British Group, Tesco, is the king of supermarkets in Britain. Apart from being the national leader in the food sector, it is proud of selling everything to satisfy all its customers' needs - books, CD/DVD/mini-discs, hi-fi and household appliances, household equipment, flowers, wine, apparel etc. With an eye to the future, Tesco has adapted to the rapid technological changes. It makes an astonishing profit from its on-line sales site - Tesco.com. Tesco Express also owns gas [petrol] stations and provides financial services: a joint venture with the Royal Bank of Scotland enables it to offer life insurance and general insurance (home, car, pet, travel), credit cards and advantageous loan and savings schemes. Today, Tesco is a global player. It is well established in Ireland, Central Europe (Poland, Slovakia and the Czech Republic) and Asia (Thailand and South Korea). Industry As the primary business of Tesco is retail so we would be looking at the retail industry. Therefore the ups and downs of Tesco group are highly correlated with the retail industry, which constitutes the major chunk of the group's revenues. Retailing is a crucial sector and major contributor to the UK economy.
The Quest for Optimal Asset Allocation Strategies in Integrating Europe.
Bachelor Thesis International Business Administration: The Quest for Optimal Asset Allocation Strategies in Integrating Europe Faarnaz Chavoushi Erasmus University Rotterdam May 2004 Abstract: This paper examines the effect of the process of monetary and economic integration in the EMU on the optimal diversification strategies for the mean-variance optimising investor. Previous literature has mostly focused on the relative importance of country versus sector effects for the explanation of stock returns, but following Ehling and Ramos (2002) and Moerman (2003), this paper takes a more practical approach to the question at hand. It aims to directly investigate the evolution of the optimal diversification strategy since the establishment of the EMU. The methodology is based on the portfolio theory first introduced by Markowitz (1952), as well as the mean-variance spanning test initiated by Hubermann and Kandel (1987). The paper finds that different diversification strategies have been optimal in the four different subsample periods specified, and that no clear trend is to be detected, except that diversification over both industries and countries has always been superior. These two findings cast doubt on the traditional top-down allocation strategy which is widely been used by most investment institutions, and which conventionally focuses on geographical
Discuss the role that the Bank of England plays within the UK economy
Discuss the role that the Bank of England plays within the UK economy. The Bank of England was founded in 1694 to act upon the government as its banker and debt-manager. Since it was founded, its role has developed and evolved into what we have today, with its role centred on the management of the nations monetary unit, the pound and it is the infrastructure of the UK's financial system. (http://www.bankofengland.co.uk/about/history/index.htm visited 27th October 2005 last updated 12th June 2002 by Anon) The history of the Bank is one of great interest in this country, but also of continuing relevance and importance to the bank today. Events that have taken place within the last three hundred years have helped to shape and influence the role and the general responsibilities of the Bank. The Bank has moulded the culture and traditions and the expertise of the Bank as a central unit to the early years of the 21st century. Much of the history of the bank runs in tandem to the financial and economic history of this country, and often too the political history of the UK more generally. There have been many key points in the history of the Bank which have guided its future in this country. In the early years the Bank system was weak in the rule of King William and Queen Mary. Over the years though, various progressions have been made with the introduction of loans, interest
The 20th Century saw a massive structural change to the face of the Scottish economy.
The 20th Century saw a massive structural change to the face of the Scottish economy. The journey from the early 1900's where the Victorian inheritance of major industries like shipbuilding and construction of locomotives were dominant, to the rise and apparent demise of white collar industries in Scotland today has been a far from smooth one. At the turn of the 20th century the Scottish economy was somewhat unstable. The made to order capital investment products like the ships were over dependent on a healthy and thriving international market and quite simply if there were no orders then there were no jobs for the ordinary workers, no wages and so a poor standard of living and many times of uncertainty. This in turn had a knock on effect on Scotland's basic industries like coal, steel and textiles. The shipyards didn't need steel if they weren't building so the steel works had no market and in turn the ordinary labourer bore the brunt. Wages were already kept to a minimum as labour costs were the main deficit on the balance sheet. The companies, during lean times, had to keep costs low in order to deliver competitive quotes and this trend saw no sign of bucking as around 1910 only state help was keeping shipbuilding alive with almost all being produced at a loss despite low labour costs. In 1914 the First World War appeared, on the outside, to be a blessing in disguise for
Liberalization: where it has lead us and where it is headed
Liberalization: where it has lead us and where it is headed Since 1991, the Indian economy has been running under the mantra of "liberalization". While there has been almost unanimous approval amongst the more affluent sections of the population for liberating the consumer goods sector from the "License Raj" of the previous decades, external liberalization has been subject to far more scrutiny, and has generated considerable controversy and debate. The extent to which the economy should be decontrolled with respect to the international sector is not only of economic relevance but goes to the whole issue of national sovereignty and security. External Liberalization Whereas domestic industrialists and investors come under the purview of national laws - and are therefore subject to a modicum of democratic control - that can rarely be said of foriegn investors. Numerous case studies from the experience of other developing countries show that the dependance on foriegn capital has invariably led to sacrificing national policy goals in favor of the demands and conditions of international lending agencies and other powerful agents of international finance coporations like credit rating companies, analysts for banks and mutual funds, and representatives of insurance companies. The examples from Mexico, and now from South East Asia all show that even before rapid economic growth
The global economy is an uneven playing field. Evaluate this term with reference to the main economic groups that have developed historically and politically.
By: Liz Haigh The global economy is an uneven playing field. Evaluate this term with reference to the main economic groups that have developed historically and politically. The word 'Global Economy' is defined as the 'world-wide exploitation of resources and the world-wide production and marketing of goods and services'. This is broken down into each individual countries economy. A countries economy is 'the amount of money within the country and how it is linked together by such things as business'. However what makes the global economy such an uneven platform is the breakdown of the worlds economies and the types of countries. The Brant report is the basic way of showing how the world in reality is split into two areas the north and south regions. The north is predominantly first world country. A first world country is one, which comprises mainly of more economically developed countries (MEDC's), where capitalism prevails. Examples of first world countries are Western European, North American or Australian. Australia is the exception of the north /south divide because the line drops just east of Indonesia. Also in the northern precinct of the economy are second world countries. These consist of socialist groups where government and economic control is paramount. Less economically developed countries (LEDC's) and some more economically developed countries are
