The Iraq Iran War And State Security - 1211 Words

The Iraq-Iran War and State Security With Iraq initiating the conflict, with its declaration of war on September 22, 1980 and the subsequent invasion of the Khuzestan province, they will be treated as the aggressor. Therefore the theoretical framework will revolve predominantly around Iraq. With this Posen’s components of the security dilemma will be used as the building blocks for state security’s explanation of the conflict, beginning with the indistinguishability of offense and defense. As previously stated, determining the motives or intentions of states are difficult and near impossible to do with any certainty. Iraq would make their intentions known with the psychological and material actions of the Ba’athist party and Saddam Hussein. It is important to once again look briefly look at previous actions to attempt a dissection. From 1974-1978 the Kurds in Northern Iraq were revolting against Ba’athist rule, as they were being terrorized and displaced d uring the military crackdown. Despite Iran’s inability to determine the motivation behind Iraq’s actions, and the potential effect on their state, they decide to take action. The attacks on the Kurds were viewed as an attempt at a power build-up, through their attempt to push Kurds out of Iraq into lower Iran. Iran viewed this as an attempt to strain their government and resources with the forced exile of an unwanted faction of their country. In an attempt to protect their interests and procure a secure state, Iran sendsShow MoreRelatedConflict Between Iran And Iraq Essay1590 Words   |  7 Pagesconflicts would be the Iran-Iraq war, proving to be the most bitter and detrimental conflict since World War II, and the worst the region has seen in recent years. Hostile relations and continued territorial clashes occurred between these two countries before September 22, 1980, however this day would mark the official declaration of war on Iran by Saddam Hussein. The next ei ght years of war would go on to claim the lives of over a million soldiers and civilians. In terms of war, this conflict wouldRead MoreIraq Invasion of Kuwait vs US Iraq War Essay1162 Words   |  5 Pages Iraq Invasion of Kuwait vs U.S Iraq War Iraq and Kuwait have a long history; Kuwait played a huge part in the Iran-Iraq war, mostly financially. Open warfare began on September 22, 1980; Iraq claimed Iran shelled a number of border posts on September 4, 1980. Kuwait funded Iraq during the Iraq-Iran war, which caused tension between the two nations when Iraq couldn’t pay the $14 billion dollars back to Kuwait when it was time to settle their debt. The Iraqi government asked Kuwait to forgive theRead MoreThe Iranian Revolution1494 Words   |  6 Pagestemple. This triggered a temporary friendship between the Jews and the Persians. During Reza Shah’s reign in Iran, Israel and Iran cooperated on many levels as they were united by a common enemy and shared interests. However, there has always been a substantial ideological split between the Iranian theocracy focused on the triumph of Islam, and a Jewish state dedicated to the security of its people. Thus, these close relations ended abruptly after the 1979 Ir anian Revolution when Ayatollah KhomeiniRead MoreThe War Between Iraq And Iran1672 Words   |  7 PagesThe war between Iraq and Iran initiated by Iraq dictator Saddam Hussein in September 1980 provided no gains or benefits to either country, at the end of the war in July of 1988 after 8 long years. At the conclusion of many wars throughout history, at least one party resulted in gaining territory, wealth, power, and other profits. However, in reality it is understood that no one ever wins in war due to the adverse affects among innocent humanity; exemplified by the Iraq-Iran war. The initial conflictRead MoreIran-Iraq War Essay1610 Words   |  7 PagesIran-Iraq War The eight year Iran-Iraq War was, by the standards of international conflicts, a very long one. It lasted longer than both World War I and World War II. In this conflict, the two most powerful states in the Persian Gulf, Iran and Iraq, who were the world’s largest producers of petroleum, were locked in mortal combat and appeared intent on destroying each other. The war began when Iraq invaded Iran, simultaneously launching an invasion by air and land into Iranian territory on SeptemberRead More Terrorism Essay1237 Words   |  5 PagesThe two terms that are going to be discussed is how the war against terrorism is expanding and how American President George W. Bush misnamed his National Security Strategy. In his State of the Union address, President Bush threatened to expand the war on terrorism to countries that are developing weapons of mass destruction and nations that are â€Å"timid in the face of terror.† The president singled out three nations, North Korea, Iran, and Iraq as the â€Å"axis of evil† and that he might take military actionRead MoreThe United States And The Western Coalition1470 Words   |  6 Pages The United States and the Western Coalition has long looked at the Middle East as a asset with little risk high reward potential. They have all have looked at them as high reward low risk a region that in contrast has an abundance natural resources in particular oil with very underwhelming population. Even if they had a product that could reach out and touch the masses the internal struggles and lack of cohesion and structure to get out of the region. Both the United States and Western coalitionRead MoreThe United States And The Western Coalition146 9 Words   |  6 Pages The United States and the Western Coalition has long looked at the Middle East as an asset with little risk high reward potential. They have all looked at them as high reward low risk a region that in contrast, has an abundance of natural resources in particular oil with very underwhelming population. Even if they had a product that could reach out and touch the masses the internal struggles and lack of cohesion and structure to get out of the region. Both the United States and Western coalitionRead MoreThe Gulf Cooperation Council Essay1709 Words   |  7 Pagesprotect against any political turmoil or security infringement in any GCC part state. The Peninsula Shield Force depends on the standard of group and coordinated security and barrier, with each GCC part state promising to ensure and protect the common security and interests of GCC part states, and their domain and jurisdiction. One of the principle targets behind the foundation of the GCC in 1981 was security from the danger postured by the Iran – Iraq War, and Iranian propelled Islamist activismRead MoreHegemonic Internationalism, Pursuit of National Interests?1070 Words   |  5 Pagesits own national interests at the expense of other nation. Nazi Germany, Iran and the United States are all examples of a nation pursuing hegemonic internationalism. Hitler ultimately wanted to establish a New Order of absolute Nazi German hegemony in Europe. To achieve this, he pursued a foreign policy with the declared goal of seizing Lebensraum (living space) for the Aryan people; directing the resources of the state towards this goal. This included the rearmament of Germany, which was utilized

The Economic Economy Of The Economy Essay - 1742 Words

1. the money from the banks and spend that money on increasing the economy which results in an increase in aggregate demand (AD) for the products and services. d. The monetary stance to adopt to counteract a recession: At the time of recession, the Reserve Bank decreases the rates of interest and increases the quantity of loans and increases the supply of money so that the economy can expand. By this the aggregate demand can increase which results in an increase in GDP. With the decrease in the interest rates, people are encouraged to borrow money from banks in the form of loans so that they can stabilise their business and get back to their stable position. The central banks at the time of depression keep less reserve and lend as much money as they can which results in an increase in investment rates in business and by this the AD and GDP grow more. All these arrangements are to be done in order to increase the economy of the world and by increasing the money supply the recession period will not last longer. Question 4 (Emma – spoke to you in class, last minute job because we couldn’t get hold of Calum): Causes that increase aggregate demand (ie, aggregate demand curve shifts to the right): The answer to this question recognises the formula, whereby aggregate demand equals the sum of consumption (C), investment (I), government spending (G), and net export (X -M), given by: AD = C + I + G + (X - M). (Boundless.com, 2015). Thus, given this formula, the transmissionShow MoreRelatedThe Economic Economy : The Economy Of Venezuelas Economy809 Words   |  4 Pages Economic Affairs: Its mayor export partners are United States with trading values ranging from $24 to $30 billions per year at least in the last 3 years. United States has received exports of Petrolium in massive numbers from Venezuela which petroleum has a total of 95% worth of the country’s total trades, this is the 50% of Venezuela’s GDP. Venezuela is bordered by Guayana, Brazil and Colombia. Venezuela shipped to the US $29.1 billion worth of goods around the globe in 2016, while receiving fromRead MoreEconomic Economy : The Global Economy1024 Words   |  5 PagesFormative: The Global Economy Topic: Show how the imposition of a tariff by a small country will have a consumption effect, a production effect, a government revenue effect, and a trade effect on the economy of that country. â€Å"If the country is a ‘small country’ in international markets, then the policy-setting country has a very small share in the world market for the product—so small that domestic policies are unable to affect the world price of the good†. (Suranovic, 2010, pg. 296). Hence theRead MoreEconomic Growth Of The Economy1506 Words   |  7 PagesEconomic growth rate can be measured as an increase in the capacity of an economy to produce goods and services, compared from one period of time to another (Investopedia). Ylan Mui and Nelson Schwartz offer information on what is stagnating our nation’s economic growth. Many have been looking at the economic growth of the third quarter very disheartened. U.S. economic growth during the third quarter expanded at a 1.5% rate, which is considerably lower than the last quarter. There are many reasonRead MoreEconomics : The German Economy1473 Words   |  6 PagesEconomics The German economy is the largest in Europe and worldwide Germany has the fifth largest economy (â€Å"World fact book†, n.d.). It is clear that the German economy holds a key position in the world marketplace. Gross domestic product (GDP) growth is an important consideration for foreign investment as it speaks to the overall health of an economy. GDP growth can be attributed to spending and investments both on and from imports and exports (â€Å"What is GDP†, 2005). In 2014 the reported GDPRead MoreEconomics On The Fuel Economy1375 Words   |  6 PagesI have researched the economics on the fuel economy in the United States. Supply and demand are key topics that will be touched dealing with the fuel economy. Since there has been an increase and decrease in price, I will further investigate the reasoning for this. Also, I will examine the overall number economic impacts relating to oil spills and the overall oil producing economy. The United States economy is highly dependent upon fuel. Fuel is a major source that come from fossil fuels from allRead MoreThe Economic Impact On The Economy995 Words   |  4 PagesOil is a huge part of everyone’s everyday life. From transportation to heating homes and businesses, oil prices are always dramatically changing due to the constant change of supply and demand. The economic impact that the price of oil has on the U.S economy continues to rise and fall due to political instability. Americans especially have a heavy reliance on oil, especially on foreign origins. The increasing price of oil has spiked large concerns and has become a major global debate. Many sourcesRead MoreAn Economy Or Economic System1174 Words   |  5 Pages  An economy or economic system consists of the production, distribution or trade, and consumption of limited goods and services by different agents in a given geographical location. The economic agents can be individuals, businesses, organizations, or governments. Transactions occur when two parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. In the past, economic activity was theorized to be bounded by natural resources, labor, and capitalRead MoreThe Economic Economy Of Australia1777 Words   |  8 Pagescountry s comprehensive national strength. In economics, GDP is an important index of a country s economic health. It is important because each component of GDP will represent in daily life. In Australia, GDP growth dependent on its service sector, manufacturing and agriculture, in which the service sector accounted for the highest proportion of total GDP. Moreover, Australia is a country which has rich resources, and this become another economic growth point that different from other countriesRead MoreThe Economic State Of The Economy Essay2040 Words   |  9 Pages When one thinks of fashion, the economy is certainly not the first thing that comes to mind. However, the two go hand in hand. Throughout history, fashion trends have changed millions of times, at a rapid rate. New trends can surface and disappear as freq uently as the sun sets. The fashion industry, much like the economic state of our nation, is ever-changing. It has its highs and its lows. Fashion trends often reflect the economic factors of the times they are associated with. Furthermore, it isRead MoreEconomic Research On The Economy858 Words   |  4 PagesIn 2007, the national bureau of the economic research stated that in 2007 the recession began and ended in 2009. The recession was so server that homes were being foreclosed because of the decline in the markets. This was related due to financial crisis in 2007. Due to widespread of failure regulations the toxic that hit corporate governance and financial firms who were taking risks on borrowing and the risks on households even Wall Street went through the financial systems of this collision course

Review on John Donne’s ‘Holy Sonnet 14’ Free Essays

Poem: Holy Sonnet XIV Name of author: John Donne Imprisoned In the poem Holy Sonnet XIV, John Donne writes about the different imprisonments of life. In his poem he is saying that he has fallen for the temptations of Gods enemy, the devil, and he is asking God to break the hold the devil has on him. John portrays that he is trapped and bound by the evils of the devil, and he wishes to be â€Å"divorced†(11) from the devil to be once again imprisoned by the love of God, either way he knows he â€Å"never shall be free†(13). We will write a custom essay sample on Review on John Donne’s ‘Holy Sonnet 14’ or any similar topic only for you Order Now The point John is making in this poem is that he loves God and no longer wishes to live with the sins and imprisonment of the devil, but rather be â€Å"enthralled†(13) by God. John first speaks of God as a â€Å"three-personed God†(1), meaning God is the Father, the Son, and the Holy Spirit. Throughout the poem John is at a fallen state, where he has fallen so hard it would be almost impossible for him to alone break the bond that he has with the devil, to be righteous and serve God. John is asking God to help him in breaking the bond, asking to â€Å"Batter†(1) his heart for God, breaking the unholy bond, the engagement that he has with the devil. John wishes to be the God-loving person he knows he is. John needs God’s powerful ways to make him a new person, today some call it a â€Å"born-again believer†, and John so badly wants God to â€Å"make me new†(4). John feels as if he has been taken over by the devil. John is pleading his case in this poem, to God as to why God should help him, defend him, save him, and make him new. This poem is like Johns prayer, pleading to God his reasoning in why God should help him, since God is his â€Å"viceroy†(7) that he should want to defend him. John is trapped as if he is held captive, and is weak and untrue to God, but at the same time still willingly and joyfully loves God. John uses the word â€Å"betrothed†(10) to emphasize that he has been tied, or engaged to the devil in his actions and wished to be â€Å"divorced†(11). John is saying he is bound by the devil and doesn’t want to be imprisoned by the devil, but instead be imprisoned by God. It’s like no matter what path John is on, whether it is the path of the devil, or the path of God, he will be imprisoned either way and never be free. John grew up as a believer in God and he eventually grew to be known as â€Å"The Great Priest† by many people. A great priest doesn’t have to stray to far from God to feel as John felt in this poem because no one sin is greater than the other. This was not the first time John had felt he had strayed away from God â€Å"divorce me, untie, or break that knot again†(11). The Holy Sonnet XIV is about a man who felt as if he strayed away from God and how badly he wants God to help him get back on the right track, living for Him. John was catholic at a time when anti-catholic sentiment was common. He began to question his faith when his brother Henry died. John then soon struggled near poverty to support his family for almost 10 years. With him being in hard times and straying away from his religion, to then come to pick back up into his religion is an example of his life and what he wanted people to know by reading this poem. After he got back to his normal life, in religion, he then became the priest that we know him to be today. How to cite Review on John Donne’s ‘Holy Sonnet 14’, Essay examples

Emotional Intelligence and Political Skill

Question: Discuss about the Emotional Intelligence and Political Skill. Answer: Introduction In the current epoch, most of the organizations deliberate on the maximization of human resources. It is indispensable for the organizations to have a better cognizance of human behavior. In this way, these organizations can comprehend the skills of human beings for a relative advantage. In the segment, I intend to reflect on the concept of Emotional Intelligence that is a comparatively new-fangled concept. Emotional Intelligence (EL) defines the skills of perception, comprehension and management of ones emotions. It covers a broad gamut of ideas related to the management of emotions and feelings (Schutte and Loi 2014). In the scholarly circle, the concept of Emotional Intelligence is highly mooted. The crux of the matter is whether the management researchers and scholars can use the concept to the organization. At the same time, they measure the significance of the concept of Emotional Intelligence (EL) in the recent time. Based on the premise, I aim to explore the concept of Emotio nal Intelligence (EL) and integrate the discussion with a practical experimentation. Definition of Emotional Intelligence (EL) Emotional Intelligence (EL) is defined as the ability of individuals to identify their own feeling. At the same time, the individual can comprehend the emotion of other people. Speaking in a brief, Emotional Intelligence (EL) is described as the capability to discern, evaluate and regulate the cognitive behavior of oneself and of other people (Goleman et al. 2013). The term Emotional Intelligence (EL) is coined by an eminent psychologist, Michael Beldoch in 1964 (Martin-Raugh et al. 2016). According to the psychologists, Emotional Intelligence (EL) enables an individual to gauge peoples emotions and differentiate between all types of emotions (Trivellas et al. 2013). It helps an individual to utilize emotional knowledge to determine the thought and behavioral process. In the recent time, there are three principal variants of Emotional Intelligence (EL): a) Ability model, b) Mixed model and c) Trait model. The psychologists and social researchers believe that varied models of Emotiona l Intelligence (EL) culminate in the establishment of manifold equipment for the evaluation of the cognitive mold (Petrides et al. 2016). It is mentioned that the many measures overlap and they absorb different behavioral construct. Genesis of Saud Bahwan Group In the assignment, I wish to consider a particular company of Oman that demonstrates the notion of Emotional Intelligence (EL). The company assesses the quality of Emotional Intelligence (EL) among the employees. It stresses the fact whether Emotional Intelligence (EL) can be used to a particular situation. The company that I have chosen is Saud Bahwan Group, which is an important corporate organization of Oman. The Saud Bahwan Group plays a pivotal role in the economic life of the nation. It introduces world-class brands and brings them into the fold of the nation (Alam et al. 2016). The company carves out a unique place in the economic sphere of Oman. The Saud Bahwan Group maintains a prestigious position in domains like automotive and associated businesses, heavy vehicles and locomotive equipment. The group also plays a substantial role in molding the tourism sector of Oman and the Middle East (Ciarrochi and Mayer 2013). The Saud Bahwan Group embarks on international collaborative ventures, mainly with Japan, China and UAE. The group has a substantial share in the infrastructure related projects. In the assignment, my role is to understand the changing dynamic of the company and assess the importance of Emotional Intelligence (EL) in this respect. Literature Review In the segment, the assignment reflects on the relevant academic literature related to the concept of Emotional Intelligence (EL). The assignment focuses on the meaning and scope of Emotional Intelligence (EL). In the simplest sense, Emotional Intelligence (EL) is described as the capability to identify, evaluate and discern ones own or other peoples emotion. The psychologists believe that Emotional Intelligence (EL) is the domain of cognitive capability that reinforces the interpersonal transformative behavior (Hutchinson and Hurley 2013). Meaning and scope of Emotional Intelligence (EL) The moot point is applicability of the concept of Emotional Intelligence to the workplace. In another way, it is essential to gauge the significance and scope of Emotional Intelligence (EL) in the workplace. In the 1990s, the research scholars coined the term Emotional Intelligence (EL) that denotes the ability to locate, assess and differentiate ones own or other peoples emotion (Pachauri and Bharti 2015). In the 21st century, the entrepreneurs and business leaders began to familiarize with the concept of Emotional Intelligence' (EL). The concept assumes a new connotation in the workplace. The scope of Emotional Intelligence (EL) is to measure success and personal qualities are directly proportional to success. According to emotional intelligence, personal attributes like perseverance, self-regulation, and community skills determine the level of success in any domain. In an extensive literature, scholars find out the ways to enhance the qualities of employees Emotional Intelligence (EL) (Huang 2016). However, the organizations seek better managers with an excellent Emotional Intelligence (EL). It is indispensable for the organizations to hire managers with high emotional intelligence and interpersonal skills. In this regard, I intend to reflect on the work performance of the top organizations like Glassdoor or Suad Bahwan group. It is found out that workers with high Emotional Intelligence (EL) can deliberate on an effective team-work, maintain flexibility and spawn advanced technologies and innovations. Historical Development of Emotional Intelligence (EL) In the segment, I want to reflect on the historical development of Emotional Intelligence (EL). It is significant to understand how the concept of Emotional Intelligence (EL) evolves from the early 20th to the late 20th century. In the 1930s, Edward Thorndike elucidated the concept of social intelligence' (Njoroge and Yazdanifard 2014). It can be defined as the capability to communicate with other people. In the 1940s, David Wechsler claims that affective attributes of intelligence are important for success in life. In the 1950s, psychologists like Abraham Maslow explained how people built and reinforced emotional capability. In 1985, Wayne Payne coined the term Emotional Intelligence' (EL) in his doctoral thesis. In the 1990s, the psychologists like Peter Salovey and John Mayer publish their masterpiece, Emotional Intelligence (EL) and highlights the theme (Codier and Odell 2014). In 1995, the writer Daniel Goleman popularized the concept of emotional intelligence in a prestigious j ournal. In the early 21st century, the people of industry and managers give a good boost to the concept of Emotional Intelligence (EL). Advantages and psychological significance of utility (EL) in modern organization Emotional intelligence helps an individual identify, comprehend and measure the utility of emotion in any corporate organization (McCleskey 2014). Emotional intelligence (EL) is an important factor for the achievement of corporate goals. It helps to accentuate the profile of any corporate organization. The benefits of Emotional Intelligence are a colossus in the modern organization. It is believed that an employee with a low emotional intelligence can adversely affect the organization. This culminates in the development of poor morale of the employees in the corporate organizations (Ramchunder and Martins 2014). It is noted that self-awareness, self-composure and self-motivation are the main factors of Emotional Intelligence (EL). A person with a high Emotional Intelligence (EL) is a jewel to the organization. He is self-aware and self-regulated most of the time. These kinds of people are self-motivated and help to maximize the profit level of the company (McCleskey and Berrios 2016) . Another vestige of Emotional Intelligence can be found in an Employees' interpersonal skills. It is believed that a person with a high emotional intelligence can exercise his cognitive faculties. With the help of the Emotional Intelligence (EL), he or she can reach the apex of any corporate organization. Psychological Significance of Emotional Intelligence in organizations In the section, I want to reflect on the psychological implication of Emotional Intelligence (EL). It is important to explore the integration of Emotional Intelligence and personality traits. One has to understand that Emotional Intelligence forms a part of human personality. It is believed that personality provides the space in which Emotional Intelligence functions. It is significant to comprehend the level of Emotional Intelligence through the prism of a developed personality. At the same time, psychology plays a crucial role in molding the cognitive behavior of an individual. It is to be noted that psychological premise and emotional intelligence are inseparably interlinked (Meisler 2014). In order to note the significance of Emotional Intelligence (EL) in organizations, comprehension of psychology is important. Impact of the practice of Emotional Intelligence (EL) on Suad Bahwan company In the segment, I aim to reflect on the impact of the practice of Emotional Intelligence (EL) on Suad Bahwan Company. In the assignment, I have chosen Suad Bahwan company, which is an important name in the automobile industry. The Suad Bahwan company has an extensive outreach in Oman. At the same time, the management of human resources follows the program features of Oman. Alongside, it gives a boost to the national priorities. The Suad Bahwan group imparts training to a number of Omani staffs and enhances their skills in the particular domain of operation. Because of this induction process, the Suad Bahwan company absorbs employees with a moderate to high Emotional Intelligence quotient. The employees with a moderate emotional intelligence level can pick up the training courses contributed by the company (Higgs and Dulewicz 2016). The Suad Bahwan Company is aware of the Emotional Intelligence practices in a detailed way. They know that Emotional Intelligence can be defined as the ab ility to identify, comprehend and evaluate ones own emotions and other peoples emotion. Activities of the company In order to maximize the productivity of the company, it embarks on the disbursement of incentive schemes among the employees. This results in the enhancement of performance of the employees. Due to the introduction of the schemes, many employees are inducted into the production circuit. They are obliged to undertake an extensive training course with the company. After the successful completion of the course, the employees start working with the company and demonstrate their skills (Templeton et al. 2015). The proficiency level is depended on the skills and cognitive faculties of the employees. If an employee has a high Emotional Intelligence, then he is a jewel for any company. Therefore, the Suad Bahwan Company is not an exception in this regard. The employees with a high Emotional Intelligence are highly motivated to take any leads for the company. The Suad Bahwan Company intends to recruit staffs with a high Emotional Intelligence. Consequently, the employees display a moderate t o high Emotional Intelligence and accept accolades from the organization. Influence of the Emotional Intelligence on the psychological environment of the company At the same time, the Emotional Intelligence practices have a profound impact on the psychological milieu of the company. The company deliberates on an expansive training program that hones the skills of the employees. With the advancement of the training course, the employees' capabilities are measured based on the performance index. It is noted that Emotional Intelligence influences the employability functions of the staffs. An individual with a high Emotional Intelligence can perform effectively and at a rapid pace. These people demonstrate proficiency in teamwork and collaborative projects. They are oriented towards teamwork and have the cognizance of the production unit. They understand the changing dynamic of the corporate field (Templeton et al. 2015). As a matter of fact, they undertake numerous projects and perform with effectiveness. Therefore, the Suad Bahwan company absorbs people with high Emotional Intelligence. The Suad Bahwan company knows that an individual with low or inferior Emotional Intelligence level cannot cope with the workload. These people are not self-motivated or self-composed. They have no motive in their mind. At the same time, they cannot outline their work schedule. Due to this reason, the Suad Bahwan company hires people with a good Emotional Intelligence level. At the same time, the grueling psychometric analysis is embedded in the program. The psychometric analysis helps to evaluate the performance of the employees. At the same time, it measures the interpersonal skills of the employees in a detailed way (Boyatzis et al.2013). The Suad Bahwan company uses the particular tool to assess the level of effectiveness in employees. In this way, the Suad Bahwan company creates an enlightened environment for the employees. During the induction process, the employees are given substantial scope to demonstrate their expertise and knowledge. At the same time, the company sees wheth er the employees can apply their practical knowledge to any situation. This is the most important component of Emotional Intelligence practice. Recommendation It is noted that Emotional Intelligence comprises four components like self-awareness, self-motivation, self-regulation and relationship management. Emotional intelligence forms a significant component of effective leadership. An effective leader has certain qualities that help him reach new heights. These qualities are self-awareness, self-composure, high level of perception and skills of comprehension. He is adept at handling high-level tasks and delivers them on time. The Suad Bahwan company also wants to instill leadership qualities into their employees. To my belief, the Suad Bahwan company is one of the largest organizations in Oman. The company deliberates on an expansive training program that enhances the skills of the staffs. However, I would recommend that the company should engage in other activities. In recognition of talent, the company should confer accolades on the efficient employees. At the same time, it is indispensable for the employees to show positivity through t heir performance. I would recommend that the Suad Bahwan company indulge in the proper recruitment of staffs based on the level of Emotional Intelligence. The company should utilize most of the talent resources to hire efficient employees. At the same time, it should grade the prominent employees based on the levels of Emotional Intelligence (EL). Conclusion Summing up, the assignment reflected on the concept of Emotional Intelligence (EL) and welded the discussion with practical experience. The assignment focused on the scope and meaning of the concept. In the process, I have explored the case of Suad Bahwan company and revealed light on the productivity of the employees. With the help of the Emotional Intelligence practice, the company assessed the level of performance of the staffs. At the same time, the assignment shedded light on the impact of the Emotional Intelligence (EL) on the psychological environment of the company. Reference Alam, M.S., Alam, N. and Khan, M.A.I., 2016. The Performance Analysis of Saud Bahwan Group, Oman: An Empirical Study. International Journal of Economics and Financial Issues, 6(4). Boyatzis, R.E., Smith, M.L., Van Oosten, E. and Woolford, L., 2013. Developing resonant leaders through emotional intelligence, vision and coaching. Organizational Dynamics, 42(1), pp.17-24. Ciarrochi, J. and Mayer, J.D., 2013. Applying emotional intelligence: A practitioner's guide. Psychology Press. Codier, E. and Odell, E., 2014. Measured emotional intelligence ability and grade point average in nursing students. Nurse Education Today, 34(4), pp.608-612. Druskat, V.U., Mount, G. and Sala, F., 2013. Linking emotional intelligence and performance at work: Current research evidence with individuals and groups. Psychology Press. Goleman, D., Boyatzis, R. and McKee, A., 2013. Primal leadership: Unleashing the power of emotional intelligence. Harvard Business Press. Higgs, M. and Dulewicz, V., 2016. Developments in leadership thinking. In Leading with Emotional Intelligence (pp. 75-103). Springer International Publishing. Huang, S.P., 2016. A study on the effects of emotional intelligence and workplace friendship on job satisfaction and performance of employees in micro-enterprises. Journal of Interdisciplinary Mathematics, 19(3), pp.567-583. Hutchinson, M. and Hurley, J., 2013. Exploring leadership capability and emotional intelligence as moderators of workplace bullying. Journal of nursing management, 21(3), pp.553-562. Martin-Raugh, M.P., Kell, H.J. and Motowidlo, S.J., 2016. Prosocial knowledge mediates effects of agreeableness and emotional intelligence on prosocial behavior. Personality and Individual Differences, 90, pp.41-49. McCleskey, J., 2014. Emotional intelligence and leadership: A review of the progress, controversy, and criticism. International Journal of Organizational Analysis, 22(1), pp.76-93. McCleskey, J.A. and Berrios, R., 2016. NEW DIRECTIONS IN LEADERSHIP: EMOTIONAL INTELLIGENCE, LEADERSHIP EMERGENCE, AND PERCEIVED ORGANIZATIONAL JUSTICE. 2015-2016 OFFICERS President President-Elect Program Chair Program Chair-Elect, p.349. Meisler, G., 2014. Exploring emotional intelligence, political skill, and job satisfaction. Employee Relations, 36(3), pp.280-293. Njoroge, C.N. and Yazdanifard, R., 2014. The impact of social and emotional intelligence on employee motivation in a multigenerational workplace. International Journal of Information, Business and Management, 6(4), p.163. Pachauri, V. and Bharti, V., 2015. Emotional Intelligence and its Impact on Job Satisfaction. Journal of Management Value and Ethics, 5(2). Petrides, K.V., Mikolajczak, M., Mavroveli, S., Sanchez-Ruiz, M.J., Furnham, A. and Prez-Gonzlez, J.C., 2016. Developments in trait emotional intelligence research. Emotion Review, 8(4), pp.335-341. Ramchunder, Y. and Martins, N., 2014. The role of self-efficacy, emotional intelligence and leadership style as attributes of leadership effectiveness. SA Journal of Industrial Psychology, 40(1), pp.01-11. Schutte, N.S. and Loi, N.M., 2014. Connections between emotional intelligence and workplace flourishing. Personality and Individual Differences, 66, pp.134-139. Templeton, N.R., Hammett, R., Low, G., Arrambide, M. and Willis, K., 2015. A Principal Leadership Framework for Enhancing Teacher Practice Through Coaching With Emotional Intelligence. Trivellas, P., Gerogiannis, V. and Svarna, S., 2013. Exploring workplace implications of Emotional Intelligence (WLEIS) in hospitals: Job satisfaction and turnover Intentions. Procedia-Social and Behavioral Sciences, 73, pp.701-709.

Comparison Of Langston Hues Peices Essays - Guggenheim Fellows

Comparison Of Langston Hues Peices The short story ?Thank You, Ma'am? and the poem ?Mother to Son?, both by Langston Hughes are similar yet differ in many ways. In the following paragraphs I will explain the similarities and the differences. Besides being written by the same author the two literary works are a like in the sense that they are both advice to young people. An example from ?Mother to Son? is ?So boy don't you turn back, don't set you down those stairs ?cause you find its kinder harder, don't you fall now?. An example from ?Thank you Ma'am is when Mrs. Jones says ? I were young once and I wanted things I couldn't get, I have done things, too, which I would not tell you son?neither God, if he didn't already know?. Both works are sharing there experiencing with younger people to try to help them to learn from the mistakes they have made in their life. They give the young people their advice showing kindness. Also both stories are written with the same kind of language. An example of this is words like ?M' am?, ?No' m?, and ?Yes' m? from Thank You, M' am and words like ?I' se? ?a-climbin' ?, and ?aint? from Mother to Son. The ways these works are different is the format of the pieces. ?Mother To Son? is a poem and ?Thank You M' am? is a short story. The literary elements in ?Thank You M' am? are characterization, direct characterization and indirect characterization. In ?Mother To Son? uses diction, connotations, denotations, entrails and his freedom of language, which is called his poetic license. ?Mother to Son? also has a deeper meaning, the writer chose to write this poem like a metaphor, referring his life to a staircase. ?Thank You M' am? is clear about its meaning and uses dialog to explain the theme and meaning of the work. In conclusion I found it clear to see that the literary works were alike in the sense that they were both giving out a positive message but different in the way the message is told. All and all I found both of these stories alike in the sense that they were very enjoyable to read and learn from! Bibliography none

Indian Retail Industry Essays

Indian Retail Industry Essays Indian Retail Industry Essay Indian Retail Industry Essay EXECUTIVE SUMMARY Retailing is the process that involves of selling goods or services directly to end consumer for personal, non business use (Kotler, 2010). A retailer or retail store is an enterprise where they make volume majorly from retailing. Any firm selling its goods or services to the end consumers- whether it is manufacturer, wholesaler, or retailer- is said to be retailing. It doesn’t matter how the goods or services are sold (may be by person, through mail, telephone) or where (from a store, by the street or in the user’s home). In the past, retailers secured customers loyalty by offering convenient locations, special or unique variety of goods, greater or better services than competitors. Retailers struggled in developed countries because of their saturated market and forcing them to invest in developing countries like India, China etc. And India has been ranked fifth most favourable market for foreign retailers, according to AT Kearney’s GRDI (2012). An Industrial Analysis on Retail Industry mainly concentrating on Food Grocery is done in the project using Qualitative methods which includes PEST analysis, tracking mergers acquisitions etc. nd Quantitative methods which include comparison among the companies and comparison with the US markets. Certain limitation was faced while searching for data but its made sure it is from a reliable and trusted source. 1 Chapter 1 INTRODUCTION 2 1. 1. Overview Retailing is the process that involves of selling goods or services directly to end consumer for person al, non business use. Present day consumers shop for goods and services at store retailers, non store retailers etc, but the best known retailer is the departmental store. Generally a retailer tend to buy goods or services in large quantities from manufacturers or importers hich may include a middleman (wholesaler) or may directly purchase from them and then sell those to the end – user consumer as small quantities or in individual items. Retailers can be considered as the end of the supply chain, because they are final means from which the consumer receives their desired goods or services. Moreover in the marketer’s point of view retailing plays a major role in the overall distribution strategy, which means that to attain an efficient supply chain management retailer is the main source to assess the actual demand in the market. Some world leading retailers are (as per Revenue):1 1. Wal-Mart (US) 2. Carrefour (France) 3. Metro (Germany) 4. TESCO (UK) 5. Lidl Stiftury (Germany) The world market is found is undergoing continuous transformation. And especially when retail market is consider, lots of innovation and cut throat competition is observed. If we consider in India the retail sector constitutes to 22% of GDP and provides 8% of employment. 2 Indian retail sector worth is found to be US$ 350 billion and is growing at a rate of 15-20%3, it is estimated that the value of the retail sector may increase up to US$ 450 by 2015. This high growth rate has attracted many of the foreign investors to invest in India especially in Grocery and Apparel as a part of FDI in multi brand retail. 4 Top retailers in India are; 1. Reliance Fresh 2. Food Bazaar 1 2 www. moneycontrol. com www. ibef. org 3 Pricewaterhousecooper research 4 Deloitte research 3 3. Spencers Mart 4. More 5. Nilgiris The organized retail sector is found to be only 5%, which shows a huge potential in retail sector and estimated to increase to 9% by 2015. Figure : 1. 1 Organized retail has huge scope of expansion Unorganized retail penetration Organized retail penetration % 9% 20% 95% 91% 80% 2011-12 2015-16 2020-21 Source: Indian retail market sep 2011, Delioitte Aranca research 1. 2. Global Scenario In the last part of 20th century, the world saw the emergence of the retail industry, majorly the supermarket found to dominant grocery retail form. And with the latest advancement in the technology like the bar code, RFID etc. allowed a store to manag e thousands of items and ‘just-in-time’ store replenishment. Computer operated logistical systems integrated with the stores assess the consumer demand in a single electronic system has led to expansion of the retail sector. But with the saturated local market, high competition pushed the major retailers into the globalization though process. And at the same time many government in the mid 1990’s have opened their economies inviting for foreign retail investors. However major issue faced is the economic slowdown that has resulted due to the uncertainty in IT sector and other financial spending. Moreover consumers themselves became much more price conscious, sensitive to price hikes and conservative in their buying, particularly in the developed economies. 4 Even though, Retail industry continues to be the world’s largest private industry with above US$ 8. trillion sales worldwide annually, this accounts nearly 10-15% of GDP for most economies. 5 Major employer in most of the economies: ? ? ? ? 18% in US 14% in Poland 9% in China 17% in Europe Biggest retail countries in world (as per sales) ? ? ? ? ? US EU China UK India US$ 4. 7 trillion US$ 2. 9 trillion US$ 800 billion US$ 498 billion US $ 350 billon So from the above data it is evident that some developing countries like China and India made up to the top retailers in the world, which shows the huge potential for retail in these economies as major part of the retail is dominated by the unorganized sector. Retailers around the Globe; Table : 1. 1 Rank 1 2 3 4 5 6 Country UK Spain France Germany Italy Switzerland % of International retailers present 55 51 49 47 45 42 5 www. Livemint. com 5 7 8 9 10 Austria UAE China Russia 42 41 40 39 Source: CB Richard Ellis, 2010 The above table shows the concentration of the international retailer in to their economy, where UK topped the list and India ranked 44 in the list (as a lot of clarifications for the international retailers are required). Study also concluded that developed economies are still the favourable markets for international retailers. 1. 3. Indian Scenario The retail industry in India is one of the most attracted market in the world. The major reason for this is, the market is highly unorganized. Almost 90% of the retail market is under unorganized sector where the business are run as kirana stores and family businesses. The organized sector is only less than 10% which is very low compared to other countries like US, UK etc which are having 50%-70% organized sectors. Almost all global retailers are looking out for an opportunity to enter into the Indian market as they knows the growth of the sector in India. Even though food and grocery is having the maximum market share of about 69% in the retail market, its share in the organized market is only 3% which shows the retailers who are mainly into food and grocery sector have an advantage among other retailers. The research conducted by Technopak reported that, in 2011 Indian food and grocery sector was estimated to be USD 325 billion that accounts for the 69% of the overall retail in India. This is expected to grow to USD 425 billion by the end of 2016 at a Compound Annual Growth Rate of 5. 5%. In this, the market share of the organized food and grocery was estimated at USD 9 billion which is expected to witness a growth to USD 34 billion by 2016 at a Compound Annual Growth Rate of 30%. 6 The study shows that there is an exponential growth in the Indian organized food and grocery sector in the next few years. 1. 4. Major Retailers in Food and Grocery The major retailers in India are Reliance Fresh, Spencer Mart, More, Nilgiris and Big Bazaar. The various aspects of these retailers are explained in the following sections of this report. As the organized food sector is very small, the market shares of these retailers are pretty difficult to find. 6 indianretailer. com/article/sector-watch/food-and-grocery/Standing-against-each-other-1489/ 6 1. 5. Research Objectives 1. To identify the market share and nature of competition of Indian retail industry. 2. To understand the market segmentation of the industry. 3. To conduct PEST analysis for the industry. . To study the difference between standalone and conglomerate diversification in the industry. 5. To analyze the mergers and acquisitions carried out in the industry. 6. To study the international exposure of the industry. 7. To determine the technologies used in the industry. 8. To study the marketing initiatives carried out by the industry 9. To analyze the future prospects of the industry. 10. To Compare the Indian retail industry with US, UK and France. 7 Chapter 2 REVIEW OF LITERATURE 8 2. 1. Introduction The size of Indian retail is about US $350 billion but it is highly unorganized. Indian retail is dominated by 15mn independent retailers consisting of kirana stores, chemists, footwear shops, apparel shops, paan and bedi stalls, handcart and pavement vendors, which together makes up ‘unorganized market’. 7 But this situation will not be the same always specially with the fact that multinational companies are trying to enter Indian market. Investors view India as an attractive investment destination. India stands at 4th attractive location for FDI (Ernst Young, 2012). In 2011, Global retail development index (GRDI) stated that â€Å"time to enter Indian market is now†(Kearney,2011). Some major retailers in India (Kumar, 2011)? ? ? ? ? ? ? ? ? ? ? ? Food grocery: Big Bazaar, Food Bazaar Consumer electronics : e-zone Entertainment : Bowling Co. Books, Music and gifts : Depot Fashion and accessories Electronic retailers Time wear retailers Pharmaceutical retailers Telecom retailers Jewellery retailers Footwear retailers Catering service retailers 2. 2. Conditions in Retail Industries Globally, A survey in small towns in Minnesota (Brennan,1991) showed that specialized services, offering better quality products and improved customer service were most successful strategies while sales promotions and lowering prices were least successful. It was observed that consumers are more focussed on new discounts compared to old ones. (Brennan, 2000). A survey conducted in south India showed some decision making styles of south Indian peoples, mainly brand conscious, high quality conscious, confused by over choice style and recreational shopper style. (Canabal,M. E,2002). Until 2011 ,Indian central government denied FDI in multi brand retail and even single brand retail was limited to 51% ownership. In November 2011, India’s central government 7 Business monitor international(Indian retail report Q1,2012) 9 announced retail reforms for both multi brand and single brand retail. In December 2011, under pressure from opposition Indian government placed retail reforms on hold till it reached to a consensus. The reforms for single-brand stores to enter Indian market but on a condition that 30% goods should be purchased from local suppliers was approved by the Government in January 2011. Organized retail is increasing at the rate of 45-50% per annum and increases its share to 16% by 2012. On the other hand unorganized retail is increasing at the rate of 10%. Major increase can be seen in personal care, jewellery, sports goods and beverages. 8 According to A associates report, some of the benefits of multi-brand retail are ? ? ? Removal of intermediary Job creation No threat to kiranas India has been ranked as the most attractive nation for retail industry among 30 emerging markets. (Senjam Dwijorani, Consolidation phase in Indian retail industry). According to a Mc Kinsey company report titled â€Å"The great Indian Bazaar: organized retail comes of age in India†. Organized retail is supposed to increase from 5% in 2008 to 14-18% by 2015. Private labels contribute to 10-12 % of organized retail industry and are growing very rapidly. Key players being Westside, Shoppers stop, Spencers, Future group, Reliance and Bharti walmart. Highest penetration is by Westside at 90% followed by reliance at 80% and pantaloons at 75%. Shoppers stop and spencers have 20 and 10% respectively. According to Deloitte’s report on â€Å"Global powers of retailing 2013 , Retail beyond†, the retail industry grows despite difficult economic condition. Most of 250 retailers posted an increase in retail revenue with most of the companies experiencing declining sales. The top 250 maintained a healthy 3. 8 % composite net profit in 2011,matching the industries 2010 result. The average size of top 250 companies in 2011,as measured by retail revenue topped US$17 billion. A crisil report shows the Indian retail market is most fragmented in the world and only 2% compromises of organized sector. This shows potential for growth is immense. ASA Associates report, August 2012 10 Chapter 3 INDUSTRY ANALYSIS 11 3. 1. Market Share and Nature of Competition The current retail segment contributes 22% of the country’s GDP and 8% of the total employment. And more over India has emerged as the fifth most favourable destination for international retailers9. According to AT Kearn ey’s GRDI (2012) â€Å"India remains a high potential market with accelerated retail growth of 15-20% expected over the next five years†. India retail sector values US$ 350 billion and is growing at a rate of 15-20%, as per Pricewaterhousecooper (PWC) research report. Mass grocery and apparel are the two most favoured segments for FDI in multi brand retail in India, according to the study conducted by Deloitte. The FDI inflow in single-brand retail trading during April 2000 to December 2012 stood at US$ 42. 7 million, as per the data released by Dept. of Industrial Policy and Promotion (DIPP). A report (KPMG, 2010) indicates that the retail business in India has not able to deliver the expected results, expect a few players. The growth of organized retail trade decreased from 35% in 2007-08 to 10% in 200-09. Food and Grocery segment has been dominated by retailers not organized till date, except a few players like Big Bazaar (Food bazaar), Reliance (Reliance Fresh), RPG (Spencer’s), and AV Birla Group (More). Organized retail is in continuous increase compared from past. Retail can be classified in different sectors such as Food Grocery, Clothing, Durables goods, Shoes, Furniture, Services, Catering, Jewellery Watches, Books, Music Gifts, Mobile phones etc.. Figure : 3. 1 Grocery sales across countries (2010) 18. 40% 12. 40% 11. 10% 10% 3% India Source: IGD international 9 2% USA China Russia Brazil UK ww. ibef. org 12 The highest penetration of private label products is by Trent at 90%, followed by Reliance 80% and Pantaloons 75%, big retailers such as Shoppers Stop and Spencer’s have a penetration of 20% and 10%. 10 Figure : 3. 2 Market Breakup by Revenue (2011) 17% 3% 6% 4% 10% 60% Food and Grocery clothing fashion Beauty wellness Electronics Furniture Furnishing o thers Source: Indian retail market sep 2011, Delioitte Aranca research The Net Revenues of the top retailers in India; Figure : 3. 3 Retailer Food Bazaar Spencer’s Reliance Fresh More Nilgiri’s Source: annual reports of the companies 010-11(Crs. ) 215. 1 98. 46 127. 67 163. 7 80. 49 2011-12(Crs. ) 298. 09 120. 62 210. 45 236. 8 97. 70 3. 2. Market Segmentation 3. 2. 1. Segment analysis The Indian economy is growing rapidly. An important contribution is made by the growing number of shopping malls. Shopping malls became a centre of attraction or a hang-out place in metro cities. There are development plans proposed 150 new malls in 2008. But what this does is we forget or ignore the traditional retail formats (pedlars, grocery stores and tobacco 10 Consolidation phase in Indian Retail Industry, Senjam. 3 shops etc. ). They continue to co-exist with the modern formats. Modern retail has helped companies to companies to increase consumption and hence the demand for their products on the market. For example, Indian consumers would normally consume rice sold to the neighbouring Kiranas viz Kolam for everyday use. With the introduction of organized retail trade, it has been noted that the sale of Basmati rice increased by four times that he was a few years back: as a top quality, rice (Basmati) is now available at almost the same price as the normal price at local Kirana. Thus we can see the way a product is displayed, spoken and contiguous and how he won the heart and the minds of consumers affects its sales. It consumption continues to increase in the way; we can say that the local market would go through a metamorphosis of a change. This means that non- union retail trade would suffer a serious setback due to the outdated technology, poor supply chain, inadequate marketing etc. Thus, local stores would soon become things of the past or limited unexpected last minute purchase. And it is also observed that avg. consumption of Indian consumer will come down to 34% in CY2015 and in addition up to 25% in CY2025. This indicates that, with gradual increase in income levels, Indian consumers are spending more on products of lifestyle or pimping the economies of lifestyle retail value. 11 Currently most popular organized retail formats are; ? Shopping Malls: Malls are larger form of organized retail today. These are mainly located in metropolitan cities, close to urban periphery. The field of shopping centres varies from 60000 m? to 7, 00,000 m? and above. The idea is to provide an ideal shopping experience that includes a mix of products, services and entertainment all under one roof. Some examples are Inorbit mall, Ansal Plaza etc. Specialty stores : These are the stores that focuses on specific market segments, specializing on particular products such as entertainment and leisure, gifts and so on. The most notable among these include channels such as Crossword, Planet M etc. Discounters: As its name suggests, the shops or factory stores, offer discounts on MRP by selling in bulk to achieve economies of scale or surplus stocks in season over. The category includes various perishable goods/ non: Subhiksha. Department Store: Stores ranging from 20000-50000 Ft? responding to the diverse needs of the consumers. It includes localized departments like clothing, toys, home, groceries etc. the popular among these are Big Bazaar, D-Mart etc. Hypermarkets/Supermarkets: Big self service outlets, with strong emphasis on Food Grocery store and personal sales and designated as supermarkets. These can still be divided into mini supermarkets typically from 1000 to 2000 Ft? and large ? ? ? ? 11 McKinnsey Global Institute 14 ? ? supermarkets from 3500 to 5000 Ft?. These stores now contribute to 30% of all Food Grocery store in organized retail. More, Reliance fresh etc are some examples. Convenience stores: These are relatively low (400 – 2000 Ft? ) stores generally located near residential areas. They have a limited range of convenience high-sales of business products in stock and are usually open for long periods during the day, seven days a week. The prices are slightly higher because of premium convenience. MBO: Points of sale multi brands, also known as category killers, offer several brands on a single product category. They are generally well in places of markets occupied and cities. 3. 3. Policy Framework Since liberalization several policy measures have been taken with regard to regulation and control, fiscal policy, export and import, taxes, exchange and interest rate regulation, export promotion and incentives to high priority sectors. Food and agricultural industries has made an agreement with high priority a number of important releases and incentives. Some of the major policy changes are as follows: 3. 3. 1. Regulation and Control According to the extant policy, FDI up to 100% allowed under the automatic route in food infrastructure (Food Park, Cold Chain / Storage). As for food retail FDI policy concerns do not permit foreign direct investment in the retail sector, with the exception of a single retail brand products. This policy is the same for all retail operations. FDI policy for the manufacture reserved for the SSI sector is the same for all items, so reserved and a separate dispensation for the items in the food processing sector is not intended. 3. 3. 2. Fiscal Policy and Taxes Broad fiscal policy changes have been introduced gradually. Excise Import tariffs have been reduced substantially. Many processed foods are exempt from excise duty. Custom tariffs were substantially reduced on plant and equipment as well as raw materials and intermediates, especially for export production. Corporate taxes were reduced, and there is a shift towards market related interest rates. There are tax incentives for new manufacturing units for certain years, except in sectors such as: Beer, wine, soda flavoured with concentrates, confectionery and chocolate, etc. Indian currency (rupee) is now fully convertible for current account and capital account convertibility in the unified exchange rate mechanism is foreseen in the coming years. 15 Repatriation of profits is freely permitted in many industries, with certain exceptions, which is another requirement offset by dividend income from exports. 12 3. 3. 3. PEST ANALYSIS PEST analysis is concerned as the environmental influences on the business. The factors are Political, Economical, Social, and Technological. 3. 3. 3. 1. Political Environment Political factors include government policies, fiscal policy, labour laws, safety regulations, competitor regulations, political stability and consumer protection. That influence and limit various organizations and individuals in society. Legislation relating to the retail was damaged many years. Political factors include goods and services that the government wants to provide or provided. 3. 3. 3. 2. Economic Environment Economic factors include economic growth, interest rates, exchange rates and inflation rate. These factors have a significant impact on decision-making and business operations. Exchange rates affect the costs of exports of goods and the supply and price of imported goods in the economy. The retail market consists of the purchasing power of people. So the total purchasing power is a function of current income, prices and availability of credit. Changes in economic conditions may affect the business or company. Economic forecasters Looking ahead to the next decade and is likely to find its forecasts of rising costs, shortages and up and down economic cycles. These changes in economic conditions provide new opportunities or threats in the market. 3. 3. 3. 3. Social Environment Social factors include income distribution, population growth rate, age, lifestyle changes, education and living conditions . Society that people grow in their beliefs, values and norms. People live in different parts of the country have different cultural value, which must be analyzed retail person or company. This will help you to understand the business strategy in order to meet the requirements of customers. trend is the social factor will also affect the business for retailers. 12 punebds. com/pf. asp 16 3. 3. 3. 4. Technological Environment Technological factors include technical aspects such as research and development activities, technology incentives and the rate of change of technological changes, new inventions and development, energy use and costs. They can determine barriers to entry, minimum efficient production and influence outsourcing decisions. Technological implementation can affect the cost, quality, and this leads to innovation. Technology is extensively used in some of the areas such as: ? ? ? ? ? ? ? ? Packing of the products Billing Mobile point of sale(POS) Digital signage Inventory management Customer service Price changes and auditing RFID and location tracking 3. 3. 4. PORTER’S Five Forces Porters Five Force model is to analyze the competition model, it helps to understand the nature of competition within the industry, and provides a good, simple but effective framework for the development and understanding of the competitive forces in the industry. Michael Porter created a framework, which identified five forces which act to either increase or decrease the competitive forces in the industry. These five forces is ? ? ? ? ? Threat of new Entrants Power of suppliers Power of buyers Availability of substitutes Competitive rivalry 17 Figure : 3. 4 3. 3. 4. 1. Threat of New Entrants The retail industry has seen a growth of the organized sector in recent years. Even though growth is not diversified, it was still significant enough to affect the unorganized retailers. This industry started ten years ago and has been declining number of independent retailers. If you walk through any mall, we notice that most of them are chain stores and there exist only a hand full of independent shops. While barriers to the establishment of trade is not impossible to overcome, the ability to establish favourable supply contracts, leases and be competitive, it becomes virtually impossible. Their vertical structure and centralized shopping gives retailers competitive advantage to independent dealers. 3. 3. 4. 2. Power of Suppliers In 1970, when Sears dominated the household appliance market, which set high standards for quality. Suppliers that did not meet these standards were omitted from Sears line. In this way, retailers have tried to exploit relationships with suppliers. This can be attributed to the fact that in the retail industry, suppliers often have very little power. Take the example of WalMart, which imposes strict controls on their suppliers. Contract with a large retailer like WalMart can make or break a small supplier. 3. 3. 4. 3. Power of Buyers Individually, customers have very little bargaining power with retail stores. The prices offered by the center-stores are usually negotiable. They come with a tag attached saying fixed price. It warns the customer from the very entrance to the store, if you want discounted prices. s Very difficult to negotiate. , But as a whole, if customers require high quality products at competitive prices, it helps keep retailers honest. 18 3. 3. 4. 4. Availability of Substitutes There is no shortage such as in the retail sector. This is not a monopoly in the market. The tendency in the retail sector is not specialized in one good or service, but to deal with a wide range of products and services. This means that what one store offers, you will probably find it in a store. Therefore, innovation and product differentiation are essential ingredients necessary to separately in the retail industry. Retailers offering products that are unique or have a clear absolute advantage over their competitors. 3. 3. 4. 5. Competitive Rivalry There is no market without competition, and there are no better ways than the existence of competitive forces in the market to improve the quality, price, supply chain management, inventory management, etc. Retailers always face stiff competition. The slow growth of the market for the retail market means that companies must fight each other for market share. More recently, they have tried to reduce the cut-throat price competition by offering frequent flyer points, membership and other special services to try to gain customer loyalty. Given the relatively weak financial condition of unorganized retailers and physical space constraints on their expansion prospects of the sector itself is not able to meet the growing demand for retail. Therefore, organized retail, which now represents a small 4% of total retail sector is likely to grow at a much faster pace of 45-50% per annum and quadruple its share in total retail trade to 16% by 2011-12. 3. 4. Business Diversification Diversification is a form of corporate strategy for a company. It seeks to increase profitability through greater sales volume obtained from new products and new markets. Diversification can occur either at the business unit level or at the corporate level. At the business unit level, it is most likely to expand into a new segment of an industry that the business is already in. At the corporate level, it is generally via investing in a promising business outside of the scope of the existing business unit. The different types of diversification that are discussed in this report are as follows; 3. 4. 1. Standalone Diversification Self-contained and usually independently operating. They concentrate only on the specific category of products. Standalone diversification has large relationship with the firm’s current business. 19 3. 4. 2. Conglomerate Diversification The companies markets new products or services that have no technological or commercial synergies with current products but that may appeal to new groups of customers. The conglomerate diversification has very little relationship with the firms current business. Therefore, the main reasons of adopting such a strategy are first to improve the profitability and the flexibility f the company, and second to get a better reception in capital markets as the company gets bigger. Even if this strategy is very risky, it could also, if successful, provide increased growth and profitability. 3. 4. 3. Future Group (Conglomerate) But while contemporaries like Bharti and Tata has teamed up with Wal-Mart and Tesco in the wholesale business, Future Group has b uilt its business by himself. Talks over sourcing partnership with Lawson Inc. Japan ended without agreement is happening this year. Under the new legal regime, it could be more opportunities for future groups to join forces with international traders. Future Group has recently reorganized its retail assets simplification of business and bring greater clarity to investors for business, Biyani says, and sees further expansion, not least the food in the arm, which he described as profitable. (And he adds: Some of the high-margin businesses, where demand is not too high, that when concerns are greater food is good, profitable business .. This week, the Future Group has acquired Express Retail Services, which operates in Delhi supermarket chain Big Apple. Biyani also outlines its goals for the store chain Food Bazaar. Currently there are about 200 Food Bazaar stores. No. Maybe in five years, add another 150 to that number, he says. 3. 4. 4. Reliance Fresh (Conglomerate) Reliance Industries plans to merge all its retail units within a single entity, which suggests he was not looking for a foreign partner in any of its businesses, a person with direct knowledge of the development said. The company started the process all the clubs eight independent retailers, such as clothing chain Reliance Trends and consumer electronics chain by Reliance Digital Reliance Fresh grocery chain, in a bid to remove defects and improve administrative cooperation and efficiency between different companies, people said. This will allow Reliance Fresh single retail entity by Reliance Retail, the groups holding company for retail sale. Reliance last Monday filed a petition in the Bombay High Court seeking permission for the scheme of arrangement of its several entities, including Reliance Retail, Reliance Fresh, 20 Reliance AutoZone format, car accessories, Reliance Trends, Reliance Footprint footwear chains, consumer electronics chain Media Reliance Digital, Reliance leisure, Reliance Gems and jewellery, and Reliance Replay Gaming. 3. 4. 5. Spencers (Conglomerate) Spencer Retail Ltd (Spencer) is one of the Indias multi-format retail chain. Established in 1996, Spencer is a group of RPG Enterprises, one of the leading conglomerates operating in India and subsidiaries Cesc Ltd. In 1989, RPG Spencer won, and in 2005 launched its retail brand in the Spencer. Consequently, it Spencer spread to other retail formats starting Hyper Spencer, super fresh and daily formats. Currently Spencer food markets and food products, clothing and accessories, footwear products, home decor items and equipment and consumer durables. 3. 4. 6. More (Conglomerate) More is a group company Aditya Birla Retail Limited, a leading conglomerate in the retail industry with a clear focus on its vision to be a global company premiums. 3. 5. Mergers and Acquisitions 3. 5. 1. Reliance and BP (Merger) During the year 2010, BP and reliance industries limited made the partnership in the oil and gas business. 13 By announcing the partnership both the companies came to an understanding that BP takes 30% of partnership of 23 oil and gas production sharing contracts that which are done by reliance industries in India. This project would help Indians in getting gas and will help to reduce the import cost included in gas. The same year reliance industries entered into partnership in us with an agreement of joint venture with the companies Atlas Energy, pioneer Naturals Resources and Carrizo oil gas by three different joint venture agreements. 14 13 14 ril. com/html/aboutus/major_milestones. html ril. com/html/aboutus/major_milestones. html 21 3. 5. 2. Bharti Wal-mart (Merger) In order to lead the retail stores in India, Walmart has begun talks with Bharti enterprises for forming a joint venture. Two companies has equal partnership in wholesale business in India, so they decided to continue their business relationship in retail business by requesting the government to make decision for allowing up to 51% foreign direct investment(FDI) in multi brand retail. 15 The aim of joint venture is to establish wholesale cash-and-carry stores and back-end supply chain management operations in line by taking government guidelines. 3. 5. 3. Spencers India Limited (Acquisition) Spencer’s is one of the retail sector which sells food and non food FMCG products16. Spencer’s Retail is a part of the RPG Companies that deals with food, apparel, fashion, electronics, lifestyle products, music and books . More over it offers services like gift vouchers and easy loans. 17 Spencer’s has expanded its food retail chain by bringing food world that has been brought over by RPG group18 . The Company has filed an application with the Honourable High Court of Calcutta for merger of its wholly owned subsidiary company Music World Retail Limited with the Company, effective from 1 January 2012, which is pending approval as of date19. 3. 6. International Exposure In the year 2006-07 ,the size of food industry in India was established at around Rs 8,80,000 crores in that the food industry accounts for around 374000 crores. Now growth of Indian food processing industry is up to 13% per annum20. 3. 6. 1. Dairy Dairy firms are one of the main contributors of Indian food industry among various sectors. In 2006-07 the size was 198000 crores it is estimated to be 366484 crores by 2015. The states of Gujarat, Tamil Nadu, Kerala, Karnataka, Punjab and Haryana have established many dairy co-operatives running successfully. Most of the packed milk segment is 15 16 bharti-walmart. n/Overview-CareerAtBhartiWalmart. aspx http://info. shine. com/company/Spencers-Retail/204. aspx 17 http://info. shine. com/company/Spencers-Retail/204. aspx 18 cesc. co. in/cesc/web/investor/helpdesk/document/sub/Spencer%60s%20Retail_Annual%20Repo rt_2011-12. pdf 19 cesc. co. in/cesc/web/investor/helpdesk/document/sub/Spencer%60s%20Retail_Annual%20Repo rt_2011-12. pdf 20 C ifti. org/Reports/Ficci_Technopak%2008. pdf 22 dominated by co-operatives it contributes about 70% of the total revenues. In the milk products India, the reports have given that demand is growing faster than supply. The recent rise in milk prices have forced Indian government to Impose a ban on skimmed milk products and reduce Incentives for exports. Many products like Ghee, Curd, etc. has demand more and they are sold as unbranded in Indian market. As the health consciousness among people is increasing day by day ,the demand for milk is increasing in the market. Exports of milk from India to south east Asia countries have grown rapidly. The ice-cream industry though it is widespread is suffering from shortage of cold chain infrastructure and lack of big players in India. 3. 6. 2. Non-Alcoholic Beverages These are of two types namely; ? Carbonated and Non-carbonated drinks Some of the hot beverages are tea and coffee. Almost Rs. 5000 crores was accounted by fruit juices and fruit based drinks. The annual growth rate would be 10-12% India is the biggest country to produce tea in the world accounting for 28% of the total global production at 956 million kgs. Tea production in India is being increa singly improving year by year whose turnover itself is above Rs. 8000 crores. The growth has become 1. 2% per annum. India is the 4th largest exporter of tea in the world and it is also the 5th largest producer of coffee which is accounting up to 4% of total production in world. Almost everything produced is being exported. It came up to 75% of produced tea and coffee is exported21 The competitor for US food processing is Indian domestic industry. As it has the best climatic conditions it has got advantage to produce the agricultural goods and potential to cultivate the wide range of raw materials. some of the Indian companies have increased their market share by decreasing the prices for the products while import duties on food and ingredients have become relatively costly. The existing food laws will restrict the producers to use the ingredients, colors, flavors. Thus it has become the additional challenge to the US exporters interested in Indian market. 21 Food. export. org/resources/countryprofiledetail. cfm? itemnumber=1015 23 3. 7. Technologies used in retail industry Retail industry is one of the most growing industry in the world today with a market share of above 50% with organized sector having a share of 5% whereas unorganized sector has over 90% of share22. Now the factor is to know how to maintain such share. moreover food grocery alone takes around 62% of market share within retail industry. Everyday thousands of thousands transaction are done in retail market let it be regarding food grocery or may be some apparels or some clothing. But its really difficult to manage the details about all these. How to keep complete track of all the products? Earlier people used pen and paper techniques but will that suffice present days requirement. The answer to this question is a big No , it is not possible to implement such techniques today. At this part technology plays a vital role today. Storing the data in a proper manner so that whenever it is required can be fetched immediately without any delay. Database, Data warehousing, Data mining are some of the tools used nowadays for storing and retrieving data efficiently. Forecasting is used to predict future demand, e-commerce used online order and purchasing, The next part discusses how exactly each of the technology has played important role in retail industry. ? Forecasting tools are used to predict the total demand of any product in the near future based on the present or past purchase made by consumers. their details are saved on a computer and based on that prediction is made how much will be actually required to suffice the requirement. Database used to store details about a product how much is in the inventory, what is the amount that has been sold, who are the purchasers of such product, what is the buying frequency of the particular product etc. This is done using barcode scanners or RFID tags that is attached with the particular product. Barcode was the idea of two college students which actually came into effect on the late 1940’s and early 1950’s. Barcode is a code made of series of lines based on morse code and movie equipment. How it is read is by using incandescent light and an oscilloscope23. RFID tags uses radio waves to identify things automatically at any time. it can either be active with their own means of sending signals or passive like using a reader to read the details. Tag may contain manufacturing date, lot number, and serial number. Use of Credit card, debit card to pay for the products purchased can also be added to the technological usage in retail industry. Using cell phones as a medium to intimidate the consumers about any new offers on any product. ? ? ? ? ? 22 23 www. cci. in www. barcode-printing. co. uk/history-of-barcodes. htm 24 ? Use of e-commerce has been the bottle neck of retail industry now. with the ease of ordering stuffs with a click of a button, paying after receiving the product and other facilities has really made life of human beings easy. Reliance Fresh, Spencer’s, Nilgiri’s, More, Big Bazaar and all uses such technologies. Food and grocery segment comprises mostly of all packed items having barcode on the backside through which its manufacturing date, expiry date, price can be monitored. 3. 8. Marketing Initiatives There are a lot of retail companies coming up nowadays but how to introduce it to public. The best way is advertisement in terms of television ads, hoardings, newspapers, etc. This section discuss about how exactly few retail companies has used advertising a tool to introduce their product to public. For this project five major food and grocery companies in India, viz. Reliance Fresh, Spencer’s, More, Nilgiri’s and Big Bazaar are considered. 3. 8. 1. Reliance fresh Reliance fresh with its splendid combination of red and green colour logo reflects a green environment. Their major advertising types are ? ? ? ? ? Print or broadcast ads through newspapers. Packaging through carry bags. Directories like in telephone directories. Audio materials like announcements through radio. Point-of-purchase displays as in when customers reach billing point they can see special offers or promotions. Other ways of promoting are direct marketing through e-mails, messages and personal selling through face to face interaction with customers. 3. 8. 2. Spencer mart Spencer follows same pattern as reliance like packaging, print ads, Audio materials, TV ads but one addition to it is every week a new published ad can be seen in local stores or website. 5 3. 8. 3. More More comes with orange colour logo having tag line â€Å"for you† or â€Å"hamesha extra†. More advertises through newspapers, online advertisement, packaging, etc. They promote by offering discounts and promoting traditional and local specialities during festive season. 3. 8. 4. Nilgiri’s Niligiri’s started in 1905 has a logo of green colour . It is a supermarket ch ain in south India. The major selling product in Nilgiri’s is fresh vegetables with hygienic and superior qualities. Advertising is very essential for promoting of products that led to the growth of Nilgiri’s. Direct marketing, personal selling, store promotion, sales promotion are other ways of advertising the product. 3. 8. 5. Big Bazaar Big Bazaar’s logo comes in orange and blue colour with tagline as †Is se sasta aur accha kahin nahi†. Some of its marketing initiatives taken arePromotional offers? â€Å"saal ke sabse saste 3 din†. ? â€Å"Hafte ka sabse sasta din(Wednesday bazaar)†. ? Exchange offers †Junk swap offer†. ? Future card(3% discount). ? Shakti card. ? Advertisement(print ad,radio,newspaper). ? Endorsement by M. S. Dhoni 3. 9. Future Outlook Retail industry in India, as we know, is one of the fast growing industry which accounts for 22% of its GDP at present24. The sector consist of only 5% of organized market and the rest under unorganized which shows that there is a wide opportunity for large scale companies in the Indian market (Singh, 2012). The proposal of FDI was considered for taking up the growth of the Indian retail market during early 1990s. It was in the year 1991, the Government has opened up the retail market to FDI through a series of steps which are; (Singh 2012) 24 ibef. org/industry/retail-india. spx 26 Table : 3. 1 1995 ? World Trade of Organizations General Agreement on Trade in Services, which includes both Wholesale and Retailing services, came into effect. FDI in cash-and-carry (wholesale) with 100% rights allowed under the Government approval route. FDI in cash-and-carry (wholesale) brought under the automatic route. Up to 51% investment in single-brand retail outlet permitted. 100% FDI in single brand retail and 51 % in Multi-brand retail. 1997 ? 2006 ? ? 2012 ? In the year 2007, the Indian retail market stood at Rs 1. 33 billion witnessing a growth of 10. %. In this, organized sector shared only 5. 9%, but itself showed a growth of 42. 7%. It was expected to maintain a much faster growth in the next 3 years (IMAGES FR Research, 2009). As part of the action taken by the Government in 2006 regarding FDI, Wal-Mart has made an agreement with Bharti Enterprises to establish a joint venture, Bharti Wal-Mart private limited, for wholesale cash-and-carry and back-end supply chain management operations in India in the year 200725. This was a decision taken by Wal-Mart as the FDI policies were not favourable for retailing. The foreign retailers were still waiting for the Government to revamp their policies on FDI in retailing. Even though there was a fast growth in organized sector, its penetration in the market was only 8-9% during 2009 which is very low as compared with countries like US, France etc with 60-80% penetration level26. During these days, the retail market looked gloomy and experts reported this will last for the next few months which will reduce the growth in organized retail sector. In 2011, the market stood at USD 396 billion. It was clear that acceptance of FDI in retail became essential for another growth to attain27. Also, according to A T Kearneys Global Retail Development Index (GRDI) 2012, India is the fifth most attracted market for International retailers and also the market is expected to show a growth of 15-20% over the next five years. 25 26 http://corporate. walmart. com/our-story/locations/india investindia. gov. in/? q=retailing-sector 27 deloitte. com/assets/Dcom-India/Local%20Assets/Documents/Indian_Retail_Market. pdf 27 Growth in organized sector can be achieved through retaining and attracting more customers in the future. Also the retailers ability to manage supply chain efficiently, increase the operational efficiency through economies of scale, serviceability and optimal space management are certain other factors that can achieve growth in organized sector (Karthikeyan, 2010). Also the usage of various tools like, GIS (Geographic Information System ); which helps the retailers to capture, store, manipulate, analyze, manage and present all types of geographical data which is highly used for locating and shifting of their stores to specific areas; are considered (Mishra, 2009). The International retailers updates on the Indian status for FDI which allows them to enter the market with less constraints and more freedom. As the Government had not supported the foreign retailers negotiation in terms of the investment, they are still in doubt to establish in the market. For the organized sector to grow further, there should be some foreign investment and that which can show the growth of 15-20% in the next five years. 3. 10. Comparison of Indian retail industry with US, UK and France. As the study shows that the top 5 global retailers are from US, UK and France, comparison study of Indian retail industry with these countries are done on the basis of the size of the industry, the major retailers within the country and the nature of competition within the country. Among the retailers above, its clear that US is the top on the basis of the size of the industry followed by France and UK. But the most attracted retail market among the above countries is India. The comparison given below explains more about the growth of these markets between 2007 and 2011. . 10. 1. Size of Industry The size of the retail industries of India (Singh, 2012) (Assistant Professor, Global Institute of Management Technology, Noida) 28, USA29, UK30 and France31 in the year 2007 and 2011 are shown in the figure below; In the French scenario, the value for the year 2010 was mentioned as USD 349. 65 billion. From the source it is established that, the growth was following a compound annual growt h 28 29 dnb. co. in/IndianRetailIndustry/overview. asp slideshare. net/hitaishi9/retail-assignment, lideshare. net/hitaishi9/retailassignment 30 prospectsnet. com/cms/ShowPage/Home_page/Industry_insights/Retail/overview/p! egiLLL, http://raceforopportunity. bitc. org. uk/sites/default/files/kcfinder/files/RaceforOpportunity/Retail%20Sector. p df 31 http://industryreviewstore. blogspot. in/2012/04/future-of-retailing-in-france-to-2016. html 28 rate of 4. 5% from 2006-2010. Hence, the value of the industry in 2007 is calculated as USD 304. 55 billion32. Figure : 3. 5 4000 3500 3000 2500 2000 1500 1000 500 0 India US UK France 2007 2011 The above figure shows the growth of the retail industries of the mentioned countries between 2007 and 2011. The growth rate is more for India and France than UK and US. The retail markets in UK and US are almost in a saturation state whereas the Indian retail market which is mostly unorganized has a wide range of opportunity for the modern retailers. The global retailers will be certainly looking forward to enter into Indian market as its organized sector is yet to grow. 32 slideshare. net/Allystephen/retailin-france-2011kh 29 3. 10. 2. Major Retailers, Their Market Shares and Nature of Competition The top 5 retailers in the four countries are given below and their market shares are shown in their respective regions33; Figure : 3. 6 Wal-Mart 6% Metro Group Aditya Birla 6% 6% Future Group 54% RETAILERS IN INDIA Reliance Retail 28% The study shows that Future Group is the market leader in Indian retail industry with a market share of 54%. Followed by the challenger, Reliance Retail has a share of 28%. The next three retailers have almost equal shares which show that there is a tight competition within the followers. Figure : 3. 7 RETAILERS IN USA 11% 11% 11% 52% Wal-Mart Kroger Target 15% Walgreens Costco 33 planetretail. net/Presentations/grocery-2012-web. pdf 30 In USA, the retail industry is lead by Wal-Mart with a market share of 52% followed by four other retailers Kroger, Target, Walgreens and Costco with respective market shares of 15% for Kroger and 11% each for the rest of them. This shows that there is a tight competition within the four companies. The Indian and US retail industries are having almost same nature of competition. Figure : 3. 8 RETAILERS IN UK 0% 15% 37% Tesco Sainsbury 19% 19% Walmart Morrisons Co-operative Group The retail industry in UK has different combinations of market shares among the companies. The chart shows that none of them is having more than 50% of the market share. The market leader is Tesco with 37% market share followed by Sainsbury and Walmart with 19% each. Morrisons is only 4% behind the two companies which shows that there is a strong competition b etween all the retailers in UK. Figure : 3. 9 RETAILERS IN FRANCE 14% 17% 28% Carrefour Leclerc Casino 18% 23% ITM Auchan 31 Study shows that there exists a similar competition within the companies in France as in UK. Even though Carrefour is having the higher market share of 28% than the other retailers, Leclerc which holds the second position with a market share of 23% is not far behind. The rest of the companies have a competition within themselves as they have market shares between 14% and 18%. 32 Chapter 4 CONCLUSION 33 The report analysed in detail, the retail industry in India. The research initially started with the collection of data about the Indian retail industry as a whole, and then moved onto global scenario of retail industries. Also, issues regarding the foreign direct investment(FDI) in the retail sector is covered. The key players currently operating in the retail industry and the bottlenecks that the retail industry is facing in India are also analysed. Based on the findings, the future outlook of the Indian retail industry is mentioned in the report. 4. 1. Major Findings 1) The Retail sector in India is split up into two, the organised and the unorganised. 2) In terms of value the size of the retail sector in India is $350 billion. The organised sector contributes about 5%of the total trade. ) The retail sector in India contributes 10% to the Gross Domestic Product and 8% to the employment of the country. 4) In terms of growth the FMCG retail sector is the fastest growing unit. 5) The foreign retail giants were initially restricted from making investments in India. But now FDI is permitted 51% for multi brand retailing and 100%for single brand retailing. Again they can enter the markets through franchis es. The report concludes that, retail industry in India has a very bright future prospect as it is undergoing through a transaction phase. It is expected to enrich the Indian economy in terms of Income and employment. The retail industry in India has come forth as one of the major dynamic and fast paced industries with several players entering the market. From analysis other reports and surveys it is quite clear that Indian retail players are now all set and ready to triumph over the organised retail sector. The Indian retail industry is now on a verge to experience speed actions and competitions, allowing the consumers to get the best deals out of it. 34 Chapter 5 REFERENCES 35 REFERENCES 1. www. moneycontrol. com 2. www. ibef. org 3. Pricewaterhousecooper research 4. Deloitte research 5. www. Livemint. com 6. indianretailer. com/article/sector-watch/food-and-grocery/Standingagainst-each-other-1489/ 7. Business monitor international(Indian retail report Q1,2012) 8. ASA Associates report, August 2012 9. punebds. com/pf. asp 10. managementparadise. com/forums/principles-management-p-o-m/208682pest-analysis-retail-industry. html 11. http://encyclopedia. thefreedictionary. com/PEST+analysis 12.

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