Case Study SECOND NATIONAL BANK Essay Example | Topics and Well Written Essays - 1000 words

Case Study SECOND NATIONAL BANK - Essay Example The first step of the strategic process was the CEO’s comment about him thinking now much change has occurred during the last year. The executive mentioned an opinion, but does not provide any evidence of his position. This is one first blunders at Second National Bank. A strategic plan requires documentation of what is been done in order to be able to evaluate the results. A strategic plan determines where an organization is going over the next year or a large period of time, how it’s going to get there and how to evaluate if the company achieved its goals (Mcnamara, 2008). Another deficiency of the organizational practices at this Bank is that the company does not have any data to compare against to determine the efficiency of the strategic plan. The executives at this meeting are supposed to have hard historical data about different aspects of the organizations operations. There was evidence in the case from the comments of various executives that they did not have knowledge of the strategic objectives of the company. They needed a copy to remember the content of the plan, as if they had not done anything during the year to help the company accomplish its strategic goals. A strategic plan is not suppose to be a document that is filed in box, never to be seen again. It requires involvement from everyone in the company in order for the company to achieve its objectives. The executives of the company are suppose to know by memory all the major points of the plan since their job involves working in the strategic objectives of the company. Another example of the inefficiency of the Bank’s strategic plan evident during the meeting was the discussion about the objective to become the friendliest bank. The company created a marketing campaign about the having the most customer friendly tellers and bank officers. Despite the efforts nobody in the firm realized any follow-up work to determine how efficient the marketing campaign was and if at the end of

Strength of the Soviet Economy Essay Example for Free

Strength of the Soviet Economy Essay The Soviet Union played a major role in the allied victory in World War II. They stopped the Nazi advances and eventually pushed them back on the eastern front. The Russian people showed great resolve to triumph in spite of drastic errors in judgment by the Soviet leaders. Some of the poor decisions were made by Joseph Stalin. The first major mistake was that he believed that he could stall the Soviet Unions involvement in the war until 1942. Stalin also made an error in trying to take advantage of the war by launching an attack on Finland. The Second World War was also a test of the Soviet systems organizational power. The collective agenda allowed the Soviets to out produce German forces during the war. One factor highlighted as responsible for the Soviet victory in the Second World War is the strength of their economy after 1942. In August 1939 the Soviet Union signed a non-aggression treaty called the Nazi-Soviet Pact with the Nazis. This pact was signed so that Stalin could keep the Soviet Union out of a war with Germany on the eastern front of Europe. Stalin believed that war with the Nazis was a foregone conclusion. The pact was signed in the hope of pushing this conflict off until 1942. This was not a wise decision. The Nazis had become so confident and powerful with their Blitzkrieg model of warfare that the Soviets would have been more prepared for battle in 1939 rather than 1941. Operation Barbarossa allowed this more formidable Nazi force to smash through the Soviet defences in both the north and south of Russia and the Ukraine. The strength of the Soviet economy and rapid reparation made after the catastrophic losses within 1941-1942 was a major factor. Soviet production was located in the west which meant once quick advancements were made by the Germans in Operation Barbarossa using the ‘Blitzkrieg’ model, this either meant that the Germans had access to Soviet resources or the Soviet military had to destroy from the Germans as to not allow them to gain further usage ‘scorched earth’. This left Stalin with a limited resources and little production methods. The removal and transportation of Soviet factories from the west to the east was a decisive factor leading to the USSR winning the war because it meant that the Russians could produce all material needed without any threat from the Germans as the land distance was so vast. It was described as the Soviet Union being tipped on its side towards Asia. Stalins plan was to help Soviet industry switch to wartime production and improve the military options the Soviet commanders had. A major factor that helped this was the Soviets adaptability and experience of industrialisation having experienced Stalin’s 5 year plan. This meant the Soviet people were a lot more efficient when contributing to the war economy. Stalin spoke in 1931 about the Soviet Union needing to advance fifty to one hundred years in the next ten years to catch up with the rest of the world. When Germany attacked in 1941 ten years had passed. The Soviets had improved the infrastructure of industry. However, major drawbacks were still in place. The major problem involved the distance between the 3,500 new factories and the front line of the battlefield. The factories were spread out across the Soviet Union. The majority of the factories were located in the south but stretched from Stalingrad in the west to Siberia in the east. During the early years of World War II Stalingrad was instructed by the centralized Communist Party in Leningrad. Stalingrad was chosen due to its proximity and access to the Volga River. The protection of production was also harnessed with resources to be able to produce for the war. This was achieved with the lend-lease agreement with the US. This was designed to supply the Soviet Union with resources to help produce machinery and improve communication links as the distance between the Russian cities and businesses became stretched. The supplies were imported using the Black Sea remaining a safe distance from German attack. As a result, the Soviet Union were able to out produce Germany. The Russians become more efficient creating tanks, ensuring they were all the same would mean fixing them would become easier and the time it would take to produce shortened. The USA’s involvement in World War 2 was due to the Japanese bombing of pearl harbour , although Germany were not obliged to go to war with the Japanese as they had not been declared war by the Americans, Hitler decided to give assistance. This only meant a larger power became a German enemy. A major mistake made by the Germans was the underestimation of Soviet force, once the initial advancements were made in Operation Barbarossa. Hitler and the wider population believed that it would only be time before the Soviets would have to succumb to defeat. One German general believed that Soviet military leaders were ‘less of a threat than the tsarist Russian generals’. However this was not the only power that misjudged the strength of USSR as American generals also expressed that the Soviets would only last within a timescale of a single month to 3 months. Another mistake made by Hitler was his persistence and control with the army. Hitler aimed to complete Operation Barbarossa before the winter, as this wasn’t completed he forced them to continue. The harsh soviet conditions made this impossible, The German soldiers were unprepared for the winter weather which lead to thousands of deaths by hyperthermia. Whereas, the Soviet troops having adapted to the harsh conditions were able to continue. An advantage this gave Stalin was the time to organise both military and civilians. The delay of German troops due to the lack of support with clothing and supplies left them stranded in the centre of vast land, unable to continue and low on morale as communication was near impossible. This gave Stalin time to reorganise, one way Stalin organised the military was to ensure that a constant supply of equipment and man power fed through. Though soldiers were trained to maintain efficiency meaning less Soviet soldiers were likely to die in combat. Another way Stalin organised his military was to make sure Vasilevsky and Zhukov regained dominance in airspace. This resulted in German efforts to conduct Blitzkrieg tactic useless. Stalin also abolished the strong influence the communist party had on the army to ensure the military stayed resistant. Stalin also ensured that the civilian population was wel l led to ensure maximum efficiency in the effort of war. Regular propaganda messages ensured that morale was kept at a high level. Films were regularly shown highlighting the evil Nazi party to ensure that the population stay in favour of German invasion. Propaganda was also less based upon the strength of the communist party during war and focused more on national unity and fighting spirit in the war effort. This was to keep the Soviet population loyal to the communist party. Another key method in boosting morale in Russia was the reintroduction of practiced religion. Religion was never banned but suffered severe harassment since 1917, closing churches and killing priests it became dangerous to practice religion. The restoration of Christianity brought the backing of Christians and an improved morale in Soviet Russia. Another group that played a valuable role in the soviet victory was partisan groups. They were men and women who fought within German territory and attacked German soldiers and destroyed German equipment. This was particularly effective as the cutting of communication wires made it difficult to convey messages over vast land and very difficult to repair due to the lack of supplies. Ultimately, I believe that the Soviet economy was crucial for Soviet victory in the Second World War as without a strong economy producing output would have left the Soviets defenceless against the Germans. However I also think that the leadership of the military and civilians in Russia was crucial in becoming more efficient and consequently a stronger power. Smaller factors such as the contribution of the Russian civilians in protecting Leningrad were also detrimental in achieving victory. There are several interpretations highlighted by the western civilisation on why the Soviet Union won the war, there has tended to feature Soviet heroism in standing up to the German invasion, but to regard the other positive factors as unnecessary. There is often a focus on Stalin’s mistakes in leadership especially early in the war. This contrasts with Soviet historians views that highlight the determined resistance of the soviet people and leadership. I also believe this soviet viewpoint that without the patriotism towards Soviet Russia creating the biggest impotence towards the Russian war effort.

The Importance of Donating Blood Essay -- Medical Health Essays

The Importance of Donating Blood The birth of Chase changed our lives forever. We were not sure if we were able to have children and after 5 years of trying with not avail, Chase was born. He was 5 lbs. and 8 oz. He was so tiny and fragile, but the love we had for our son was enormous. When Chase turned five months old, the doctors told us that he had leukemia. They said it would take a miracle for him to see his 1st birthday. We as parents did not know what to do or who to turn for to help and guide us in the right directions. Chase would undergo many surgeries and need many pints of blood. It is often that people do not understand why donating blood is important part of life. What if Chase was your 5-month-old son? We need blood for emergencies and for people who have cancer, blood disorders, sickle cell anemia and other illnesses. Donating blood can save so many lives, one day it could save you or a loved one’s life. If all of us took the time to see the importance of blood donation than many people would have a greater will to give. Donating blood is a selfless act; it takes 30-45 minutes out of your day and can be a lifesaver for so many. Although we all would like to do are part, there are eligibility requirements in order to donate blood. To give blood you must be healthy, be at least 17-year’s old, weigh at least 110 pounds, and not have donated blood in the last 56 days. Some instances will make you ineligible to donate. Recently getting a tattoo or piercing, having a cold or flu, or having sexual relations with someone who has used drugs can make you ineligible. If you have been in a same sex relationship, you are not able to donate blood. In addition, certain place that you might have traveled... ...d that they got support they needed when it came time. There are many ways and places to donate. This is the time to join in and become a donor. Your one donation can save their lives. If it were not for the everyday heroes' that take time out of their busy day to give a piece of themselves, then many more people would not be here. Blood is one way of giving your support. Please help save a life and give what you can. Do not make excuses on why you cannot. Come up with reasons why you can. Even if you are ineligible to donate, you can always volunteer your services to help. Work Cited American Association of Blood Banks. 2004 http://www.aabb.org/index.htm American Red Cross Organization. 2003 http://www.redcross.org/home/ Plasma Care. 2003 http://www.plasmacare.com/ Seattle Cancer Care Alliance. 2004 http://www.seattlecca.org/

Discuss Research Into The Breakdown Of Romantic Relationships

One piece of research into the breakdown of romantic relationships is from Duck (1982). According to his phase model of the breakup of a relationship, it all begins with the breakdown of the relationship where there is dissatisfaction within the relationship. These dissatisfied partners then begin to consider all the problems within the relationship, thinking mostly about the relational ‘costs’ which develops a resentment for the relationship. This is known as the intra-psychic phase.Once a threshold of being unable to withstand the relationship anymore, the dissatisfied partner expresses their uncertainties about the relationship and so the dyadic phase has been reached and the couple will re-assess their goals, possibilities and commitment. If this is not successful, the social phase has been reached where the decision to leave the relationship is made and is publically discussed between third parties. Next, self-justifications and version-makings of the breakup are of fered, which is known as the grave-dressing phase.Finally, the individuals will attempt to recreate a sense of their own social values, by preparing for different types of future relationships and knowing what they wish to get out of them, known as the resurrection process. The evolutionary perspective on relationship breakdown is another explanation into the breakdown of romantic relationships. Perilloux and Buss (2008) have developed an explanation of why evolution might have shaped the behaviour of rejecters and rejectees differently. Their research is based on four main predictions.The first prediction is the costs related to emotional investment. In a relationship, women will consider the costs of losing the stability of a relationship whereas, if a male has high emotional investment in a relationship, he is more likely to share his resources. However, if the relationship breaks down, the male may leave his children unsupported. This highlights the importance of a males resourc es to the female, who will experience higher costs associated with the loss of emotional investment from their male partner.The second prediction is increasing commitment as a response to the threat of a break up. A woman will value emotional commitment highly in mates, especially to ensure the survival of any offspring, so males threatened with relationship breakdown may employ strategies to exploit this, possibly increasing their commitment for example, by suggesting marriage. The third prediction is infidelity. This may be a deliberate attempt to break up a relationship with a relatively poor-quality mate, in order to make way for a higher-quality mate.The final prediction is managing reputational damage where a rejecter may be perceived as being cruel and heartless by peers, whereas the rejectee is frequently perceived as the victim. In order to prevent any reputational damage, the rejecters will be motivated to minimize any reputational damage and make efforts to be seen as rea sonable and compassionate rather than cruel and heartless. A strength of Duck’s phase model is that it is supported by observations of real life break-ups.Researchers Tashiro and Frazier (2003) surveyed undergraduates who had recently broken up with a romantic partner and they reported that they not only experienced emotional distress, but also personal growth. These students reported that breaking up with their partner had given them new insights into themselves and a clearer idea about future partners. Through grave-dressing and resurrection processes they were able to put the original relationship to rest and get on with their lives.However, a weakness of this study is that Tashiro and Frazier surveyed undergraduates, meaning that they may not have been in a relationship for a long time so therefore would not experience the stages of breakdown as such because they are much younger so therefore may not take into consideration the loss of costs so this therefore weakens the validity of their study. Another strength of Ducks phase model of breakdown is that the model stresses the importance of communication in relationship breakdown.Paying attention to the things that people say, the topics that they discuss and the ways in which they talk about their relationship offers both an insight into their stage and also suggests interventions appropriate to that stage. If the relationship was in the intra-psychic stage for example, repair might involve re-establishing a liking for the partner, possibly by re-evaluating their behaviour in a more positive light. In the later stages, different strategies of repair are appropriate such as in the social phase, third parties may be able to help the partners patch up their differences.This highlights the positive implications of the model, and how it can help couples amend the relationship, despite reaching later stages. However, a weakness of Duck’s phase model and research into rejecters and rejectees is that there are ethical issues within the breakdown research. When carrying out research in this sensitive area, it often raises issues of vulnerability, privacy and confidentiality. For example, a woman in an abusive relationship may fear recrimination from her abuser should he discover her participation in the research.Ultimately, the researcher faces a choice of protecting a participant’s safety or pursuing this valuable information. Therefore, it is hard to measure the issues which led to the breakdown effectively. A limitation of the evolutionary perspective on relationships is that it is deterministic. The evolutionary perspective neglects personal choice and environmental influences, claiming that human behaviour is influenced by adaptations that developed in the Stone Age. This makes sense only if the environmental challenges remain static over evolutionary time.However, if the environment is dynamic rather than static, then the only human that would be adaptive is one tha t is flexible and responsive in any social and physical environment they are in. In some environments, it may be adaptive for males and females to act in the ways suggested, but not in all. For example, nowadays, due to changes within our environment it has enabled women to be less dependent on men for their resources. This therefore challenges the claim of these being universal human behaviours as it has ignored the dynamic nature of relationship breakdown.Another limitation of the evolutionary perspective on relationships is that is gender biased. Researcher Hollway (1989) argues that gender differences evident in the relationship behaviour of males and females reflect less the role of evolutionary forces and more the shared cultural discourses of the different sexes. These discourses are patterns of thinking and communication that are common within one gender but not the other within a particular culture. For example, with the ‘male sexual drive’ discourse, a man may be more likely to report greater infidelity.However, Holloway claims this is not because they are like that by ‘nature’, but because there is a cultural discourse that instructs him how to act on the basis of his sex. In the case of breakdowns, gender differences in how an individual reacts may be less determined by our adaptive biology and more to do with what males and females believe is the appropriate way to behave given that they are products of gender-specific socialization within that society. Overall, evolutionary explanations of sex differences in this area represent a gender-biased representation of how males and females behave during relationship break-ups.

Case Study Hard Core Cartel

CASE STUDY: HARD CORE CARTELS Cartel refers to a group of firms producing substitute goods that collude or conspire to increase prices and its own profits, by lowering production and/or sharing markets or customers. Figure 1 below shows examples of recent price fixing cases from various countries. (Figure 1) These industries either have a market structure in which a small number of inter-dependent firms dominating the industry, that of a oligopoly, or are firms that is the only seller of a good or service that does not have a close substitute, characteristics of a monopoly. Oligopoly and/or monopoly arise for four main reasons: government restriction to the entry of more than one firm into a market, an individual firm commands control over a key resource essential to produce a good, there are externalities in supplying the good and economies of scale are so large that one firm has a natural monopoly. A monopoly and/or oligopoly can produce lesser of the goods and charge at a higher price as compared to a competitive market industry producing the same good, due to the need to stay competitive. This usually leads to lower costs, lower prices, and consumer demanded goods. However, due a market structure like that these industries, price conditions are such that competition is likely to lead to higher prices. Furthermore, governments intervene by regulating these industries and externalities, provide public goods, control the use of common resources and reduce income inequality. It is uncommon for monopolies to be fined with the exception, such as Microsoft, for illegal monopolistic practices. However, fines for companies operating in oligopoly markets that abuse market power through collusive agreements are more common. Traditionally, the power cable industries in the European Union have been state-owned monopolies. During the 1990s, countries such as Germany, Sweden and the United Kingdom, privatized these industries and imposed price regulation to restrict market power. Power cable industries in Germany are highly competitive market and over the past decades, dramatic changes are observed in the way the government regulated the European economies. Cartel members engaged in market sharing, price setting, bid rigging, coordinated predation and delaying of innovation. Hard core cartels can reduce the economic welfare and consumers' surplus because of the manipulation of market prices and/or quantity of goods. Consumer surplus is the difference between the highest price a consumer is willing to pay for a good and the price the consumer actually pays. (Figure 2) Depicted by Figure 2, consumer surplus is measured by the area below demand curve and above the market price, P1. Therefore, the higher the market price, the smaller the consumer surplus. By increasing price and reducing the quantity produced, the monopolist reduces economic surplus. This reduction in economic surplus is called deadweight loss, which is a result from a market not being in competitive equilibrium. As indicated in the earlier section, cartels arise in market structures characterized by a small number of inter-dependent firms competing against each other. Factoring in this inter-dependence, the firms can enter a collusive agreement to manipulate market prices in a bid to achieve monopoly prices. While this may be the case, high prices may also be an incentive for the cartelists to breach the agreement by undercutting their rival firms and/or increasing production output, to attract consumers. Cartels can have significant adverse effects on global economy. As with the case of Spain’s domestic sugar cartel, the firms had detailed price-fixing and collusive agreements (e. g. import and export) that restricted the supply of sugar, in order to achieve maximum monopoly profits. As a result, for many years, Spanish sugar prices were 5 to 9 per cent higher than the rest of Europe. This illustrates how cartels can manipulate market prices and exploit the buyers of their products. Since sugar is considered a basic staple, this indirectly constitutes to greater economic loss.

BiblioBoard Getting your ebook into libraries The Reedsy Blog

BiblioBoard Getting your ebook into libraries The Reedsy Blog Getting Indie Authors Into Libraries - An Interview with Mitchell Davis of BiblioBoard When you want to know where to sell your ebooks, availability is always king. Why do you want your book on the Kindle store? Because Kindles are everywhere. Why do you want to be on the iBook store? Because iBooks is is available on over 800 million iOS devices. So when BiblioBoard say they want to help indie authors reach a network of over 2500 participating libraries, every single indie author should be paying attention.Part of their strategy for this comes back to two big ideas we’ve encountered across conversations with authors and entrepreneurs. First they offer curation that helps buyers, whether they’re readers or librarians, find the kind of books they’re looking for. Second, they’re helping to normalise independent publishing, giving indie authors an equal footing with traditionally published authors, and of course by getting their books into new spaces like public libraries.Mitchell Davis is the founder and chief business officer of  BiblioLabs ,  the creators of BiblioBoard. We spoke to Mitchell about why they started BiblioBoard, and how they’re going to help introduce the work of self-published authors to libraries across first America, and eventually the world.MITCHELL DAVISLibraries had talked to us quite a bit about knowing there were good self-published books out there, but not having the time, energy or resources to sift through them to figure out which ones they should make available to patrons. I think our background made us a natural fit for wanting to solve this problem.We first visited Library Journal in early 2014 and they knew they wanted to do something with self-publishing, but felt the LJ brand was not right to sell reviews (other publications had started selling reviews to self-published authors). As we talked, it became clear that LJ and their network of librarian reviewers were the perfect â€Å"advisory† for self-published books. They could apply their expertise to helping librarians l icense the best self-published books by genre. By paying a subscription fee and trusting LJ’s review process the library could make self-published books available to their patrons for small cost and with no headaches or hassles.What we bring to the table is the technology, product development and sales. Libraries have a huge untapped potential as a book discovery platform, but they have never had an eBook distribution platform that would let them do this successfully. LJ did a patron profile survey a couple of years ago that showed 50% of people who discover an author in the library go on to buy a book by that author. This partnership unlocks the potential of that statistic to the benefit of self-published authors.Authors selected for SELF-e get a â€Å"badge† for their book and marketing materials, exposure via Library Journal and inclusion in a service that will reach millions of potential readers. This is a marketing exercise for them to have their writing discovere d.Since our platform allows unlimited multi-user access to books (most library lending systems force books to be loaned out one at a time) librarians do not have to be terrified that if a book becomes popular it will cost them more money or create long waiting lists. Librarians can now be allies with self-published authors to help them build readership.Once an author has built an audience, they can start trying to build a writing career if that is their desire (by selling other books or selling print books). And, of course, there are plenty of self-published authors who aren’t writing for the money. So for them this is about getting people to discover and read their writing or ensure their library can have an eBook available to the local community. Whatever an author’s motivations for self-publishing, we think SELF-e can help them achieve their objectives.REEDSYCuration seems to be the #1 word in any book distribution business nowadays. How will you curate the content for SELF-e?MITCHELL DAVISThe Library Journal has developed a process to manage the workflow. The books are being assessed for ease of reading, pacing, editing and other common issues seen with self-published books. Publishers do this for books- but librarians have done this for decades as well. This gives librarians a chance to get on the front end of the process. I wrote an interesting article called â€Å"How Libraries and Patrons Can Beat Publishers at Publishing† that dives into this a bit more. The title is a bit tongue in cheek, but the points are valid.REEDSYAnother great feature of BiblioBoard/SELF-e is the â€Å"local library† approach. You can make your book available to your local library (something many indies are already trying to do on their own). How does this work exactly, and how does your platform make it easier?MITCHELL DAVISLibraries have been struggling to solve this problem since self-published eBooks began. Libraries get a branded submission form from their own website. It takes about 5 minutes for the author to submit their eBook. We accept ePubs and PDFs (meaning, that even if an author has not yet converted their book to ePub, they can still make their book available). The author can then opt to make the book available through any public library in the state that subscribes to BiblioBoard. It is a very simple process for both the author and the library.REEDSYHow big is your network of local libraries? Is it U.S.-only or do you cover other countries?MITCHELL DAVISCurrently we reach over 2500 libraries in the U.S. We have customers in the U.K. and continental Europe, but these are mostly academic and national libraries so they are not really involved in SELF-e yet.REEDSYNow to the good old startup question: the business model. Authors hate to pay, and libraries provide â€Å"free content†, so it’s even more difficult to take money from their side†¦ so, where do you make money?MITCHELL DAVISSELF-e is free to authors, but we also do not pay royalties. It is common for authors to pay commercial services like BookBub to give books away for free in order to promote themselves. We thought there was a better business model around this activity than charging the authors.We sell a platform to libraries- BiblioBoard- and we also sell content that libraries can make available to patrons on the same platform. The platform pricing is based on the size and budget of the library (larger libraries with more patrons pay more, smaller libraries pay less). The SELF-e submission system is part of the core BiblioBoard platform.The modules that will be curated by Library Journal (by genre) are an additional product sold as a subscription service to the libraries. There is a compelling value proposition to the library in the work of selecting and making available hundreds of great self-published books on an elegant platform. New titles will come in every quarter and the subscription will grow its conten t offering over time. The first products will come out next year and our intent is to price them inexpensively to encourage as many libraries as possible to participate.REEDSYI see that some of the biggest names in the indie author community (Barbara Freethy, CJ Lyons, Hugh Howey) actively endorse you guys. So I guess they are themselves using SELF-e to have their book distributed to your network of libraries, right?MITCHELL DAVISThese authors see the value in what we are doing because doing these kinds of promotions and building readership launched their own careers. And they endorse what we are doing because they believe in the power of libraries to help authors. But these authors are not part of SELF-e. We have created a different model for the distribution of books by self-published authors who are already successful.We just announced a new product called Indie Rock Stars where Hugh, Barbara, CJ and around 30 other successful self-published author’s books will be availabl e for reasonably priced, multi-user access on BiblioBoard. We do see ways SELF-e and Indie Rock Stars can work together as things move forward. As authors start to take off within SELF-e we believe some of them will break out and become Indie Rock Stars.REEDSYI discussed this question with Libiro (an indie-only eBook store) a few weeks ago, and it’d be interesting to have your view on it from an indie-only distribution-to-libraries platform perspective. Can you envision a future where readers, libraries and bookstores don’t care how the book has been published? If yes, how far away is this future?MITCHELL DAVISI don’t think readers really care much today. I think librarians care to the extent that the publishers make their jobs easier in selecting books. One big problem that publishers solve for librarians is they give a degree of confidence that the books they purchase will not embarrass them.What we are doing with SELF-e solves that problem also, but much furt her upstream and with libraries actively engaged in the process. Library Journal (and eventually librarians themselves) can sit on this wellspring of self-published content and start having a formative voice in how books reach readers. It is not outlandish to think that if we create the right user-experience that in five years a massive number of people (think: Amazon or Instagram type numbers) will think of the local library first when they want to discover a new author digitally.REEDSYReedsy is all about providing author publishers with the same level of quality they’d get through a big 5 publisher, and, in a way, raising the standard of self-publishing. So we are definitely chasing this future. How do you see both our startups integrating or collaborating in the next few years?MITCHELL DAVISI think our partnership will help authors get the help they need to go from being writers to being authors. If an author has already published their book, then that is pretty straightfo rward, but we are working with library writers programs and many other library-connected services that will generate first time manuscripts. Reedsy can provide a place for them to find the professional services they need to succeed. I am excited to see what develops between us as time goes forward.REEDSYAn easy one to finish: what’s the next big thing/milestone for Biblioboard?MITCHELL DAVISOur â€Å"next big thing† is a new user interface that will roll out in mid 2015. We have learned a lot over the past two years from library patrons and library partners; and, of course, technology stacks improve over a two-year period.Individual libraries will be branded on the new interface and we have incorporated a more visual and social way for libraries to â€Å"desk curate† the experience for their own patrons in a super simple way. We have added a whole set of tools for patrons to build their own lists and boards to help them easily organize books, videos, images, his torical documents, audio- anything their library makes available to them digitally- in one simple place.BiblioBoard will ultimately succeed by word-of-mouth and return users. We know this is what it takes for platforms to succeed today- just look at Uber, AirBnB and Evernote. Libraries live in the same world as these companies, and to be digitally relevant they have to deliver equally compelling user experiences.REEDSYThanks for your time Mitchell.What do you think about this innovative way of getting indie authors into libraries? We (Reedsy and Biblioboard) would love to hear your comments, so do join the conversation below!

Death of a Salesman (Compare Biff and Bernard) essays

Death of a Salesman (Compare Biff and Bernard) essays Different. Different were the two characters, Biff and Bernard, in Arthur Millers, The American Dream. Each person grew up in a different environment and ended up with completely different life styles. But at the end both knew that they had to work hard to get what they wanted, and nothing is handed to you because you are well liked. Growing up in a family full of lies Biff Loman did not know what life was really about. As a student in high school he was very well liked and was very popular in school. He was an excellent football player, which eventually gave him scholarships to colleges. Biff did very poor in school and expected his friend Bernard to help him cheat in his math class. But because Bernard did not help him Biff flunked math and couldnt graduate high school. He was raised by a man that believed that being well liked by others meant u would get somewhere in life, Biff spent 14 years of his life doing nothing. He went from job to job, stealing, and eventually getting thrown in jail for stealing a suit. Willy Loman, his father, made him believe that because he was a Loman he shouldnt have to answer to anybody. That is one reason why he went through so many jobs. When he was told what to do and had to answer to somebody he quit or did something bad and eventually got fired. After so many years of endless jobs Biff finally came home again. He realized that he wasnt dime a dozen or a great leader of men like his father always told him he was. Instead he was a man that had to work hard to get what he wants and not just expect it. Bernard on the other hand was completely opposite from Biff. Bernard came from a family that was taught if you work hard enough it pays off. While in high school Bernard was not very popular, and was considered a nerd. He always studied, was smart, but was not very athletic like Biff. He ...

Methyl Definition (Methyl Group)

Methyl Definition (Methyl Group) Methyl is a functional group derived from methane containing one carbon atom bonded to three hydrogen atoms, -CH3. In chemical formulas, it may be abbreviated as Me. While the methyl group is commonly found in larger organic molecules, methyl may exist on its own as an anion( CH3−), cation (CH3), or radical (CH3). However, methyl on its own is extremely reactive. The methyl group in a compound is typically the most stable functional group in the molecule. The term methyl was introduced around 1840 by French chemists Eugene Peligot and Jean-Baptiste Dumas from back formation of methylene. Methylene, in turn, was named from the Greek words methy, meaning wine, and hyle, for wood or patch of trees. Methyl alcohol roughly translates as alcohol made from a woody substance. Also Known As: (-CH3), methyl group Examples of Methyl Groups Examples of compounds containing the methyl group are methyl chloride, CH3Cl, and methyl alchohol or methanol, CH3OH.

International hospitality environment Essay Example | Topics and Well Written Essays - 1750 words

International hospitality environment - Essay Example The IBE encompasses differences as well as similarities of cultures, impact of globalization, entry of foreign markets, emergence of new markets, competition between local and foreign companies, competition within domestic markets, foreign direct investments, exchange rates, corporate finances, global marketing, trade agreements, regional focus and differences, global and emerging forces, among other interrelated factors. According to the Economist (2007), in view of the four-day World Economic Forum in Davos, the international business environment is in its bullish mood as profits are at record levels, remarkable and robust financial system, abundance of liquidity, structural imbalances caused by outsourcing, minding the green or environmentalism, among others. Wikipedia and words such as "supercapacitor" are "in" as the next big thing, with predictions of structural recession and stable international political relationships. Biggies such as the Citigroup, Google, and Andre Kudelski of a security badge company were declared main players as protectionism (basically US politicians playing on their middle-class voters) was emphasized. If anything, competition is at stake as World Social Forum take on the WEF. The report basically gives a picturesque view of the global business environment. In your own words discuss the 3 levels of th... Macro - the international business environment encompasses global trends from e-commerce, profit for being green, merging and separation of cultures in trade, foreign direct investment, marketing across countries and the ever- present sustainable development. This has emerged due to globalization, information and communication technology (ICT), and outsourcing which has threatened the United States' workforce, slowly levelling-up economic play fields, and transferring forces like tsunami. Micro - in this level, the business environment factors are customers who are diverse, cosmopolitan or culture-based, broad, demanding or passive; there are also employees scattered all over the world with multinational corporations (MNCs) having their manufacturing offices somewhere in China, research and development in India or Germany, distribution all over third-world countries in Asia, Africa and South America, and luxury in Europe or the North Americas. Suppliers in this sense, considered B2B are also all over the world: from Asia, Africa, and South Americas, towards China, Taiwan and other manufacturing favourites. In this micro environment, the stake holders, basically investors are mostly from the capitalist countries of North America and Europe, although emerging bullish actors are now largely coming from Asia, and South America. It is also of importance to mention communication facilitators which are the media, largely funded by US moguls, which not only includes tradition al print and broadcast but streaming media brought about by ICT. The last for consideration is competition which are basically bullish new comers shaking old established MNCs and their ageing techniques

Chapter 2 Assignment Example | Topics and Well Written Essays - 250 words

Chapter 2 - Assignment Example vantages of operating necessity model are that the main project is put on the course by preventing threats though it may reduce the money spend on funding the main project (Page47) Some of the desired result of applying project portfolio process is among other factors; to ensure fewer projects are selected thus easier to manage them, to help reduce competition among the projects and ensuring that the projects selected contribute to the organization’s strategy. To ensure projects benefits are more than the cost and that the projects selected have few risks and to ensure the project is monitored closely. Most firms tend to use SWOT analysis i.e. they can manage their projects basing on their strength, weaknesses, opportunities and threats. The Project portfolio process tends to bring together the goals and strategy of the organization with the project in the context (Page 65). The steps in project portfolio entail; establishing a project council, which should be made up of managers who will spearhead the project and help to plan on how the objectives of the projects will be achieved. The council will be responsible for the funding of the project and allocation of the resources to the various projects in the context. Identifying project categories and criteria comprises subdividing the project i.e. those that are very good and those that are less important. Different criteria’s are used to help evaluate their relative importance. Goals of the projects purpose and missions are listed and discussed to help determine how the goals will be achieved. Assessing resource availability entail; looking into both external and internal resources. Labor resources should also be evaluated and the human resource manager should be able to consider other human needs, In other words, human beings should not be allowed to work continuously over a long time. They should be accorded time to relax. Step 5 entails reducing the project and the criteria set i.e. the number of

Building a Strong Brand Case Study Example | Topics and Well Written Essays - 4000 words

Building a Strong Brand - Case Study Example Within the industry some are questioning the long-term strategy of confectionery in the Nestl group, after the company announced that it wants to position itself as a "health, nutrition and wellness company". Competition - Nestl owns more than 25% of the L'Oral beauty business. When L'Oral purchased The Body Shop in May 2006, L'Oral handed back a 14% stake in the fair trade Day Chocolate Company, formally held by The Body Shop. Nestl has been dogged with adverse publicity surrounding its ethics in baby milk production, and it would seem that a share in The Day Chocolate company would have been untenable. Nestl launched a fair trade coffee, Partners' Blend, in 2005, which may signal a company intention to enter the fair trade chocolate market. Product Strategy - Nestl appears to be following a different premium strategy, bundling non-edible products to enhance gift status and encourage price trade up. To some degree this may be due to an over-reliance on child-targeted products and character licences in the portfolio. However, by offering non-edible components the amount of chocolate is limited and products might be perceived as healthier, thereby dovetailing into the over-arching Nestl Strategy towards health. Across the child-targeted everyday chocolate products, Nestl has followed a strategy of reformulating recipes to replace artificial ingredients with natural flavouring and colouring. This is a different aspect to the wider healthy eating agenda. Brand offering/product portfolio A large range of seasonal products are available, with a strong presence in novelties. Nestl uses the boxed chocolate brands to offer seasonal packaging formats and purchases character licences to offer products targeted to children. Easter - Value-added non-edible gifts are being added to products as an alternative strategy to encourage premium trade up. For Easter 2006, Nestle mugs and games featured on a Yorkie Subbuteo football egg and also a Milkybar Buckaroo egg. Christmas - The chunky chocolate brand Yorkie follows a masculine strategy and this was used for several Christmas products. 'Hot Stuff' was a rum flavoured version launched for the winter season 2005. A pint glass filled with Yorkie chunks, and a roulette game featuring a spicy chocolate were also available. Nestl claim that the products satisfied men's most popular hobbies of drinking and eating spicy food. Other occasions - A packaging strategy is used on the Yorkie brand to

Population growth Essay Example | Topics and Well Written Essays - 1250 words

Population growth - Essay Example Geometric growth can be contrasted to arithmetic growth rate, which grows in a sequence, for instance 1, 5, 9, 13, 17, 21, 25, 29, 33, 37, .... One of the principles behind geometric growth is that the bigger a number gets, the faster it grows, this is the case with population since the larger the population becomes, more people will be available for reproduction hence the greater growth (Berlatsky, 133). For instance, a population having 500,000 people will grow five times faster than a population which has just 100, 000. From this equation, if r is greater than zero and b is greater than one, then the population will grow at exponentially, however, if r is less than zero and b is greater than one or if r is greater than one and b is between one and zero, then the population will reduce exponentially. A geometric decay curve for population would look something like this Geometric continuous time model of population growth is more realistic when it comes to determining population growth since they involve all parameters of population such as birth rates and death rate (Turchin, p96) In order to calculate the population growth rate using the continuous growth model, the following formula can be derived. If a population has Nt individuals where t is time in years, the number of children being born in a year is a fraction represented by the symbol ï  ¢ and the number of people that die in a year is a fraction that is represented by the symbol ï  §. These geometric progression equations have been used for a long time to calculate population growth rates of countries or of the world at large, for instance, the following figure show a curve of world growth rate that was calculated from the available data and backward projections of population. Geometric progression has been use in population growth and without it, calculating

Irish Migration in the 19th Century Essay Example | Topics and Well Written Essays - 2500 words

Irish Migration in the 19th Century - Essay Example Ireland once belonged to England as one of its oldest colonies. It became officially absorbed as part of United Kingdom after the Act of Union on January 1, 1801 (Moving Here Ireland in the 19th century, par2). English was the official language of the country. Statistics showed that the percentage of people speaking in Irish decreased to less than 15% by 1891. In terms of economy, Ireland was largely agricultural. People largely depended on potato crop as their main source of livelihood. "By 1840, it has been estimated that 3 million people depended upon the potato, sometimes supplemented by buttermilk, with an adult male consuming up to 6.3 kg (14lbs) a day." (Moving Here Agriculture, par.4). Poverty is evident in their social class- the laborers who depended on the success of their crop harvest and the unemployed who live in wretched cabins and miserable huts. The living conditions of Irish in the 19th century can be depicted in the common notion of what an Irish notion is. It was stated in an article in the website of Moving here Gallery that the miserable hut of an Irish man consists of "an unpaved clay floor below, a roof of straw and weeds, dank, and soak, and rotting overhead, miserable bed in the corner, an iron pot over a peat fire, a black and filthy sink before the door." (Moving Here Living Conditions, par.3). To say that Irish people only have a meager amount of income is an understatement. The uncertainty of their lives was similar to the uncertainty of nature where most of them depended. The potato crop failure known as the Great Famine which hit Ireland from 1845-1850 left many people starving to death. This compelled Irish to leave their country and look for their fate and luck to other countries, mostly in the United States and Canada. "It is estimated that almost one million people died, and almost the same emigrated." (Moving Here, par.3). Ireland's population dramatically decreased by 2 million which was from 8 million to 6.5 million from 1841 to 1851. "Early 19th century emigrants tended to come from the more prosperous northern and eastern countries, including Wexford and Dublin." (Moving Here Other Parts of Ireland, par1). Hence, immigration can be characterized as the people's mechanism to survive although later discussions would show that the early Irish immigrants or the early settlers experienced poverty, oppression, social injustice, and inequality. To illustrate this, an article entitled Irish Immigrants in America during the 19th Century found in the website of Kinsella indicated that "even as the boat was docking, these immigrants to America learned that life in America was going to be a battle for survival. Hundreds of runners, usually large greedy men, swarmed aboard the ship grabbing immigrants and their bags trying to force them to their favorite tenement house and then exact an outrageous fee for their services. As the poor immigrant had no means of moving on, they settled in the port of arrival. Almshouses were filled with these Irish immigrants. They begged on every street" (par.2). Early settlers in both countries experienced most of the struggles and hardships in establishing their lives in another country but their efforts paid off as their descendants became better educated and skilled. Irish migrated to prosperous countries such as the United States

Business taxation Essay Example | Topics and Well Written Essays - 2000 words

Business taxation - Essay Example Understanding Revenue and Capital Expenditures Revenue expenditures such as rent of premises for conducting business, employee wages, raw materials and many such items are ongoing expenditures that are necessary to generate business profits. Revenue expenditure is also known as circulating capital that means capital changes hands to produce profit and loss. On the other hand, capital expenditures such as purchasing land or building, plant and machinery or goodwill form a long-term expenditure that accrue benefits until its useful life. The Statute ICTA88/S74 (1) (a) provides that only those expenditures are allowed for deductions that are "incurred wholly and exclusively for the purpose of trade" (BIM37035). However, capital expenditures are not allowed for deductions fully, and its treatment is governed by different statutes, as incorporated by the governing office from time to time. Capital Expenditures – Differential Treatment in GAAP and Income Tax It is important to note that accountancy and income tax laws are not fully in alignment as far as treatment of capital expenditure is concerned. ... All revenue expenditures are allowed for deduction to profit and loss statement. All capital expenditures are not allowed for deductions unless allowed by statute. For example, ITTOIA/S58 and S59 are the statues that allow deductions for the incidental costs incurred while raising a loan for business purposes (BIM45800, 2012). The statutes deal with the costs incurred while raising loans or issuing loan stock. These statutes do not provide relief for the costs incurred while raising finance through other methods such as bills of exchange, leasing assets, hire purchase, buying assets on credit or any form of equity financing. The incidental costs to obtain finance have been defined in ITTOIA/S58 (2). The allowable costs include commissions, fees, advertising, printing and related matters. It is required that the costs must be incurred, wholly and exclusively, for the purpose of acquiring or repaying the finance including its security. Some of the costs that are included under this sta tute can be described as per the following (BIM45815). a. Introduction fees, underwriting commissions, brokerage. b. Professional and legal expenses for negotiating the loan and getting the document ready. c. Valuer's fees, land registry fees incurred towards the security of the loan. d. Commitment fees. e. The costs of issuing a prospectus, postage, and the costs of advertising etc (BIM45815). Statute ITTOIA/S59 (1) provides that expenditure incurred while obtaining loan is not allowed for any deduction if it has provisions of conversion into shares or if any other securities or conversion takes place before three years from the date of loan obtaining (BIM45810). There are several deductions

Irish Migration in the 19th Century Essay Example | Topics and Well Written Essays - 2500 words

Irish Migration in the 19th Century - Essay Example Ireland once belonged to England as one of its oldest colonies. It became officially absorbed as part of United Kingdom after the Act of Union on January 1, 1801 (Moving Here Ireland in the 19th century, par2). English was the official language of the country. Statistics showed that the percentage of people speaking in Irish decreased to less than 15% by 1891. In terms of economy, Ireland was largely agricultural. People largely depended on potato crop as their main source of livelihood. "By 1840, it has been estimated that 3 million people depended upon the potato, sometimes supplemented by buttermilk, with an adult male consuming up to 6.3 kg (14lbs) a day." (Moving Here Agriculture, par.4). Poverty is evident in their social class- the laborers who depended on the success of their crop harvest and the unemployed who live in wretched cabins and miserable huts. The living conditions of Irish in the 19th century can be depicted in the common notion of what an Irish notion is. It was stated in an article in the website of Moving here Gallery that the miserable hut of an Irish man consists of "an unpaved clay floor below, a roof of straw and weeds, dank, and soak, and rotting overhead, miserable bed in the corner, an iron pot over a peat fire, a black and filthy sink before the door." (Moving Here Living Conditions, par.3). To say that Irish people only have a meager amount of income is an understatement. The uncertainty of their lives was similar to the uncertainty of nature where most of them depended. The potato crop failure known as the Great Famine which hit Ireland from 1845-1850 left many people starving to death. This compelled Irish to leave their country and look for their fate and luck to other countries, mostly in the United States and Canada. "It is estimated that almost one million people died, and almost the same emigrated." (Moving Here, par.3). Ireland's population dramatically decreased by 2 million which was from 8 million to 6.5 million from 1841 to 1851. "Early 19th century emigrants tended to come from the more prosperous northern and eastern countries, including Wexford and Dublin." (Moving Here Other Parts of Ireland, par1). Hence, immigration can be characterized as the people's mechanism to survive although later discussions would show that the early Irish immigrants or the early settlers experienced poverty, oppression, social injustice, and inequality. To illustrate this, an article entitled Irish Immigrants in America during the 19th Century found in the website of Kinsella indicated that "even as the boat was docking, these immigrants to America learned that life in America was going to be a battle for survival. Hundreds of runners, usually large greedy men, swarmed aboard the ship grabbing immigrants and their bags trying to force them to their favorite tenement house and then exact an outrageous fee for their services. As the poor immigrant had no means of moving on, they settled in the port of arrival. Almshouses were filled with these Irish immigrants. They begged on every street" (par.2). Early settlers in both countries experienced most of the struggles and hardships in establishing their lives in another country but their efforts paid off as their descendants became better educated and skilled. Irish migrated to prosperous countries such as the United States

Customer Acquisition Report Information Essay Example | Topics and Well Written Essays - 2250 words

Customer Acquisition Report Information - Essay Example Some of the main factors under this include product, place price, and promotion. Building a strong brand is vital since it has psychological effect on the customers. The perception of customers towards a particular product dictates the number of sales that one will make. Conducting a marketing research before the introduction of a given product becomes vital. It assists a businessperson in obtaining information about the attitudes of individuals towards a particular product. Through a marketing research, one is able to know the strategy with which to approach the market. The introduction of new products in the market faces a number of challenges. This is due to some internal and external factors, which determine the success or failure of businesses. If the employees for instance do not have skills that ensure proper communication with customers, this may lead to increased losses for the company. Customers are retained by the quality of services they receive from a company. It is impe rative to note that marketing also plays an important role in acquitision of customers. It is the process through which a business information the customers about the products. In the following discussion, the introduction of iPhone 5 and acquisition of customers will be dealt with. Brief history of Apple Inc., which produces iPhone Started in 1976, this multinational company is one of the most successful, dealing with the production of operating systems and communication gargets. With its headquarters in California, the company has been able to have about 14 subsidiary companies throughout the world (Duhigg 23). In addition to that, it operates more than 393 stores worldwide to facilitate the sale of its state of art products. Apart from the production of iPhones and operating systems, the company also produces computers, macs, and iPods and currently seeks to introduce smart TVs. The company has been able to create more employment opportunities to the society members. The statisti cs released in 2012 indicated that the company had 72,800 permanent employees and thousands of others under temporal contract (Duhigg 23). In the same year, the company had total revenue of about $156 billion (Duhigg 24). This was unprecedented and attributed to increased sales of products particularly the iPhone 5, which was introduced in the same year. It is estimated that about 27.4 million handsets of this product were sold in 2012 (Duhigg 24). This was much higher than that of the closest rival Samsung Galaxy S 111 introduced the same time. Despite the success of the Apple Inc. there are various challenges threatening the stability of this business. Competition has been a major concern for the company. Apart from Samsung Company, which has been a major rival in the production of smartphones, others include Nokia, Huawei, and Motorola companies. The goods of these companies are of lower price compared to that of the Apple Inc. Introduction of iPhone 5 in my location It is a stat e of art smart phone, which runs on Apple operating system. It is a main rival to other smart phones produced by other companies such as Samsung and Huawei. Unlike the previous generations of this product, iPhone 5 is not only lighter but also thinner making it more convenient and portable. This may explains the high number of sales in 2012. Despite this though, the sale of this phone is significantly lower in my location owing to the perception of

International Monetary Fund Essay Example for Free

International Monetary Fund Essay The question â€Å"To what extent has the International Monetary Fund contributed in revamping the Nigerian economy since the 1980’s?† is a question that helps us to evaluate the true impact of international monetary policy.   In order to further understand the meaning of this question, this paper will examine the following subjects – 1) the meaning of the question, 2) the significance of the question for International Relations scholars, 3) how the question relates to other published work in the area, and 4) what methods would be employed to answer the question. First of all, the question is directly focused on economic impacts.   However, the question is not simply a matter of metrics, because the question is directed at procedural changes as well.   The question is focused on the restructuring of the Nigerian economy.   To only use economic metrics would fail to address the consequences restructuring entails.   When the IMF releases money to a country, they stipulate conditions that the country must meet. Therefore, the question is also directed at the matching the directives of the IMF with the implementation within Nigeria.   The question is not asking if the IMF has had a positive or negative impact on Nigeria, so value judgments can be left aside.   However, there are several hidden economic impacts.   Structural changes to the workforce, changes in occupations, and new roles within the economy are all more difficult to measure, but can be considered a result of economic policy.    Therefore, the question means 1) what are the economic stipulations of the IMF from the 1980’s until now, 2) has the Nigerian government met the requirements of the IMF, 3) what restructuring has occurred within the Nigerian economy as a result of the IMF, 4) what economic measures can be attributed to these changes, and 5) what are the indirect economic impacts of the IMF policies. International relations scholars are interested in this question because the answers yield important data on the impacts of policy.   International relations scholars are often consulted on questions of policy.   It is therefore in their best interest to know the impacts of policies made in the past.   In this regard, they are historians.   First of all, it is critically important for International Relations scholars to understand what the IMF has attempted to revamp within the Nigerian economy by tracing the stipulations as they were made. Additionally, the scholar can look at the Nigerian government’s ability to meet the demands of the IMF.   How well were they able to integrate the changes required by the IMF.   Were there consequences that required new policies in the future?   In tracing these policy changes, the scholar can also piece their own picture together of what the IMF did well (what was effective), and what changes needed to be made in direction in order to achieve effectiveness.   They can also have a unique insight into the culture and politics of Nigeria, as well as the internal culture and politics of the IMF. At this point, the International Relations scholar can also know what economic measures are affected by differing types of policies and requirements.   Additionally, they can make recommendations on what types of correlations can be found between initiative and their impact.   Perhaps some of the most valuable information for International Relations scholars, however, is related to the indirect impact of the IMF’s policies. When looking at the restructuring of the Nigerian economy, the International Relations scholar is able to examine the changes within the population, how people moved around, the changes in families, etc.   This type of information allows for a more comprehensive picture of economic change and the effects policy can have on cultural change.   Also, this may highlight the challenges represented by a more powerful entity interacting with a less powerful entity on a global scale. There has been much written about Nigeria since the 1980’s.   There are environmental reports, malnutrition reports, and economic reports.   However, these all approach Nigeria from a different perspective than the direction of this question.   This question seeks to directly explore the impact of IMF policies and economic aid on the revamping of the Nigerian economy.   As such, this question seeks to provide supporting information of the changes in Nigeria.   It seeks to trace change related to IMF policies alone.    It is impossible to completely know what current conditions in Nigeria are caused solely or even primarily by the IMF policies, however by focusing on the IMF, widespread impacts can be evaluated from IMF policies.   It is taking the infusion of money and change of monetary policy as the starting point and looking for the economic aspects affected.   One of the main sources for research on these types of development programs is found with the World Bank.   A particularly useful document is â€Å"The Evolution of Poverty and Welfare in Nigeria, 1982 – 1992.†[1]Using this document and also information from the IMF, the scholar can tie together the policies of the IMF and the effects. In order to study such a complex issues, a rigorous approach will need to be taken.   It is the most difficult to know the indirect impacts of the IMF’s economic policies.   It is undesirable to claim that changes were a result of IMF policy, if in fact, they owed their existence to a governmental or environmental change.   However, the economy is so closely entwined with all aspects of life, the implications of the IMF policies will be seen to have far-reaching consequences. Therefore, we can begin by examining the Nigerian economy and economic statistics in 1980, and comparing them with the present day to get snapshots of the economic health of Nigeria at these two points in time.   These snapshots, however, encompass other economic influences other than the IMF programs.   Then the specific policies of the IMF and their objectives are compared to the resulting economic changes to see if the stated goals have been achieved via metrics. Also involved in this analysis is the ability of the Nigerian government to implement the changes required by the IMF.  Ã‚   This area of analysis is perhaps the easiest, as the initiatives of the IMF are easily available.   However, information on the implementation and the implementation’s challenges may be more difficult to find.   Looking at a timeline of IMF policies, one can also deduce what was effective or not effective.   If a policy was ineffective, then in a later cycle we should find a correction or an abandonment of the program. The internal structure of the government and economy can also be viewed.   The way that money flows and what directions can be measured.   It is important to see structural change since the 1980’s.   The Nigerian government worked with the IMF to develop the National Economic and Empowerment Development Strategy in 2004.[2]   This document reviews previous policy and also lays the groundwork for future work between the IMF and the Nigerian government. This report focuses on structural changes – highlighting the importance of revamping the Nigerian economy. Additionally, looking at the basic economic unit – the household – can show structural changes ass well.   By looking at these structural changes, the real question about revamping the economy can be answered.   Of course, this type of analysis also looks at the indirect effects of economic change.   These are difficult to measure, but by tracing newspaper stories and major events in Nigeria, it may be possible to trace events back to economic policy decisions. Overall, the question of the effectiveness of the IMF’s policies to restructure the Nigerian economy is a very important question with implications for future policy consideration and also a deeper understanding of the past. Now that the world is becoming smaller and national boundaries are being crossed with money and policy, it is more important than ever to understand the impact of economic policy.   Additionally, with the prevalence of capitalism and modernization, the effects of economic policy on third world nations must have a thorough understanding. Reference List International Monetary Fund, The Nigerian Economic Reform Program, IMF, 2005, retrieved 10 January 2007 http://www.imf.org/external/country/NGA/index.htm    World Bank, The Evolution of Poverty and Welfare in Nigeria, 1985-92, World Bank, 1997, retrieved 10 November, 2007, http://www4.worldbank.org/afr/poverty/databank/DocNav/default.cfm [1] World Bank, The Evolution of Poverty and Welfare in Nigeria, 1985-92, World Bank, 1997, retrieved 10 November, 2007, http://www4.worldbank.org/afr/poverty/databank/DocNav/default.cfm [2] International Monetary Fund, The Nigerian Economic Reform Program, IMF, 2005, retrieved 10 January 2007 http://www.imf.org/external/country/NGA/index.htm

Impact Of Exchange Rate On Inflation In Pakistan

Impact Of Exchange Rate On Inflation In Pakistan Inflation exchange rate are two main factors of macro-economics. Inflation is a rise in the general level of prices of goods services in an economy by the passage of time. Exchange rate is very important factor in economic which impact imports exports of country. A country does not always want the exchange rate to fluctuate because an exchange rate influences the levels of its imports exports, which are the component of fiscal policy. Policy makers want to hold rate at a particular level or within a certain range in order to achieve given domestic policy goals related to the level of growth of GDP. In the perfect mobility the exchange rate movements and an adjustment of goods market is relative to asset market and consistent expectations. The extends that output responds to a monetary expansion in the short run, this acts as an effect on exchange depreciation which lead to an increase in interest rates (Dornbusch, 1976). There are three types of ways which gives stickiness in prices, the prices set by the firms in that currencies, the firms set the prices for currencies of consumers, or firms set the prices in the currencies of producers (Engel, 2001). When the exchange rates changes, the changes appear in the relative prices and make to generate additional uncertainty for equilibrium in markets. However, there is also defining that the changes in terms of trade play the larger role of changes in the exchange rates which affect the variability of exchange rates (Stockman, 1980). Inflation is one of the key indicators of the country and provides important information on the state of the economy and sound macroeconomic policies that govern it. Inflation is the production of the expenses of manner of things arise which leads to the advancement of the last in the price of meals. For example, if the matter is hardy and this leads to the increment of the price of the production of the costs of increasing, and in turn this leads to increasing prices to keep the crowd his profits. The discretionary nature of the existing monetary policy in Pakistan is inflation, and it is targeting to hit on the Pakistani economy by focusing attention on the monetary policy. So the government of Pakistan is to make monetary policy more transparent for achieving the explicit goal, and decreasing the inflation. Therefore, it is increasing the public understanding of the strategy of central bank to deliver the target, so the State Bank of Pakistan helps to provide an anchor for inflation expectations in the economy. The State Bank of Pakistan (SBP) has achieving a low rate of inflation in a high priority, and also aims to support the national country objectives of Pakistan to meet the economic diversification and competitiveness in the form of export from the world. 1.2 Problem statement This study is to examine the impact of exchange rate on inflation in Pakistan economy. 1.3 Hypothesis H1: The Exchange rate explains the inflation. 1.4 Outline of the Study The variability of industrial production output higher in the regime of fixed exchange rates instead of regime of flexible exchange rates (Flood Hodrick, 1986). The effect of consumption goods purchases by the government is not the private utility, but per capita real government expenditure are the composite of individual consumption of goods. So notice that the demand of money depends on consumption of goods rather than income and that is the important distinction of closed economies (Obstfeld Rogoff, 1995). Pakistan major import is crude oil which is purchased in dollars. If foreign exchange rate increases, it has increased the cost of oil that has adverse impact on the economy of Pakistan. Inflation is also caused by international loans and the national debt. As nations borrow money, have to deal with the interest that the final prices increase as a way to keep up with debts. The main problem of Pakistan is external debt, which has altered the economic balance. The most immediate effect of inflation is the declining purchasing power of the rupee and its depreciation. This study has been helpful for economic policy makers, foreign investors, economic analysts, business students who are interested in macro-economics studies. This study identifies how two macro-economic factors are related with each other. 1.5 Definitions Variables: For this study the following variables have utilized:- Exchange Rates Independent Variable: The exchange rates are foreign exchange rate between two currencies. Every country has a foreign exchange market and is one of the largest markets in all countries of the world. It converts 3.2 trillion USD currency conversion. It has two types i.e. fixed and floating exchange rates. Meese and Rogoff (1988), it depends on fundamentals such as money supplies, real incomes, interest rates and inflation. Listen Read phonetically Dictionary View detailed dictionary Inflation Dependent Variable: Inflation has increased the general level of prices of goods and services in an economy by the passage of time. Price inflation measure is the rate of inflation, the annual percentage change in general price index (usually the Consumer Price Index) over time. Effects of inflation on the economy have manifold and simultaneously positive and negative. Negative effects of inflation include a decrease in the real value of money and other monetary items over time, uncertainty over future inflation which discourages investment and savings, and high inflation leads to shortages of goods if consumers begin hoarding out of concern that prices increase in the future. Positive effects include a development of economic recessions, and debt assistance by reducing the real level of debt. CHAPTER 2: LITERATURE REVIEW The analysis of the monetary determinants of inflation is of obvious interest for the nations that pursue a policy of inflation targeting. This study focuses on Pakistani economy that is currently following an Inflation targeting approach or did so in the recent past. Currency stability plays an important role for the monetary authorities in this economy. Exception of real money growth rule is included in the estimation of Phillips curves for the four economies Bayesian model averaging (McCallum, 1999). Entrepreneurs seek stability in the course says that keeps the price of imported items from growth due to rupee depreciation, which is not only support the economy in general, but also exporters who use large amounts of imported cases in the production of exportable surplus. Since the beginning of this fiscal year, while the rupee has lost about 2.5 percent of its value against the dollar and its depreciation rate is unlikely to accelerate in the coming months due to continued inflow of foreign capital and funds. Also include the support of IMF, partial release of the fund, a coalition of U.S., which is part of its payment obligations by the Friends of Democratic Pakistan, extremely strong inflow of return of foreign workers of portfolio investments and possible pick-up in exports and foreign direct investment in the second half of fiscal year. Current rupee stability has helped in containing imported inflation and weakening inflation expectations. Bankers expect that trend continues throughout this financial year, a national unit is depreciated more than 7.0-7.5 percent during the entire fiscal year, against 19.5 percent last year. Businesses verify that the bankers are the forward currency cover in accordance with this expectation. What Pakistan needs today is not a platform to launch an economic revival program but what people need is an actual economic revival. The main problem of Pakistan is the foreign debt which has risen to unmanageable proportions in the last decade and the repayment of which has created turbulence in external balance of Pakistan to such an extent that it does not meet its minimum necessary development requirements. At present Pakistan cannot survive without fresh borrowings from foreign donor agencies. As emphasized by Choudhri and Hakura (2006), an important policy debate for the contemporaneous monetary and exchange rate policy implementations is to reveal the degree to which changes in exchange rates or import prices impact or pass-through into domestic consumer prices. Presently there are three rates of exchange i.e. the bank rate, the inter bank rate and the open market rate. The overall effect on the foreign exchange rates should not be more than 5 to 6 per cent as the increased inflow of foreign exchange have neutralize the effect of the increased demand of private imports. If the foreign exchange earners and remitters keep on getting a fair exchange rate for earnings, it is visualized that in the next few years exports can touch the $15 billion mark and overseas Pakistani remittances can fetch $5 billion. It was concluded that the exchange rate feed shock on domestic inflation, first at the level of prices of the manufacturer and then the level of consumer prices and the impact of shocks on the variables of price the various stages of the supply is different. The purchasing power parity theory doctrine means different things to different people. There are two versions of this theory that is called the absolute and the relative interpretation. The first version of purchasing power theory calculated as a ratio of consumer goods prices for any country that has tended to the equilibrium rates of exchange. In the second version of relative interpretation the rate of exchange rate have been determined between the two countries and quoted with general levels of prices of two countries. This version amend the international trade theory which have been the part of PPP, in which the non-traded goods (services) has been introduced, but the advantage is greater in regards of traded goods than non-traded goods, because of the assumptions of marginal rates of transformation. The relationship between purchasing power parity and exchange rates provides the international comparison of national incomes and living standards (Balassa, 1964). Lawrence (1976) gave another review of this purchasing power parity theory. It has define two applications in economics, the first application use of the conversion factor to transfer the data in one national way to another. The use of PPP is mainly the body of (index number theory) and applications of GDP that have improved over the years and path breaking studies in the area continue to appear. The second application of PPP did not have the widespread acceptance, which has remained the unsophisticated applications. Stockman (1980) develops the model of determination of prices of goods and exchange rates. The changes in commodity prices due to supply and demand affect the change in exchange rates by purchasing power parity deviations.The changes in exchange rates have failed to resemble the changes in prices of goods, because exchange rates more volatile than prices levels and inflation rates. The study proposes the equilibrium of exchange rates behavior and different international goods that have been traded. This relationship cannot exploited by the government, because greater the changes in terms of trade the larger the changes in exchange rates variability. The deviations from PPP persists that variation of exchange rates more than ratios of price indexes. The results found the two interpretation of the relationship between exchange rates and terms of trade. In the first, the causes that affect the changes in exchange rates also affect the change in terms of trade because prices of goods do not adjust to clear the markets. This interpretation also found in the research of Dornbusch (1976), and Isard (1977), the analysis formally differentiates the system with respect to exchange rates and allow prices to change but not the changing in asset stocks. The interpretation presented the elasticity approach of the foreign exchange market and the relation between the trade and exchange rates. Real supply and demand shocks affect prices and the derived demand of exchange rates. These changes in demand for foreign exchange result the supply and demand shocks and that should affect the equilibrium of exchange rates. In second interpretation the expected rate of change of exchange rates revealed on the forward foreign exchange market. This should be related the anticipated change in the terms of trade and the inflation differentials. A persuasive argument about the level of exchange rates is only associated with not causes of the relative prices changes. Bilson (1985) gives the empirical findings about macroeconomic and flexible exchange rate of the U.S dollar related to PPP theory. From the perspective of this research, the sluggish price adjustment in the commodity markets resulted in increased variability in exchange rates. For the demonstration of result it is important because the instability of floating exchange rate is due to the inherent differences between commodity and foreign exchange markets. The determination of the expected future rate is impossible, because it is more difficult to reject the forward parity condition. The major part of the forward parity is the variation in the premium is due to the forecast. The object of this study is to determine that if the forward parity failed is the cause of instability in the same way that the failure of purchasing power parity. The findings develop that currency risk premium is the important factor relative to floating rate system, and movement in the exchange rate are dominated by the non speculative activity and it has the adverse effect on world economy. Meese and Rogoff (1983) analyzed the outcome of sample forecasting accuracy on various models. The study estimated the horizons of the dollar with different country currencies, like Dutch mark, Japanese yen, and Britain pound that traded to weight the dollar exchange rates. It has also studied the flexible exchange rates with the monetary models of sticky price, so the model of sticky price, which incorporates the current account. The first model is structural models in which it requires to generate the forecasts of exchange rates and explanatory variables. It contains the explanatory power, but it is predicted badly because the explanatory variables are difficult to predict. The second is the univariate time series model in which it identifies a variety of prefiltering techniques involves differencing, de-seasonalizing and removing time trends. The relative performance of these techniques is of interest in itself. The third model use is the random walk model. It is also linked with this univariate time series model. It is used as the predictor of the current spot rate with the entire future spot rate, and it requires no estimation. In this study the performance of estimated univariate time series models or candidate structural model is no good instead it is worst. From a methodological stand point the view that the outcome of sample model fit is an important criterion when evaluating exchange rate, but the estimation of out of sample is failure with time series models that are well approximated the major country exchange rates. Feinberg and Kaplan (1992) evaluated and interact the real exchange rates index expectations is developed and used to explore the role of determination on domestic producer prices. The fact that time path of the exchange rate has directly affected the input costs, and the price of substitutes strongly. To examine the links between both actual and anticipated movements in the dollar and relative domestic producer prices, it chooses to analyze price responses to real exchange rate changes. The effect is dependent on the nature of substitutability between imports and domestic goods. The major finding is that the period of appreciation and depreciation over the past 10 years to inhibit the pass through in to domestic prices. In depreciation the market share to enjoy the continued good times kept prices other than expected. The theory of optimum currency areas, which is usually presented by the other name called flexible exchange rate system, but it is proponent as a device of depreciation that takes place of unemployment when the balance of payment is deficit and appreciation when it replaces inflation when it is surplus. The problem can be exposed and more revealed by defining a currency area within when exchange rates are fixed. Three answers can be given, first certain parts of the world are going through the process of economic integration, so new experience can be made and what constitutes the optimum currency area can be given the meaning of these experiments. Second those countries that have flexible exchange rates are likely to face problems with the theory of optimum currency areas, so these do not coincide the optimum currency areas with the national currency. Third the idea that illustrates the functions of currencies which have been treated in economic literature, and sometimes neglected in the problems of economic policy. In the currency area, countries with different currencies including national country currencies interact pace of employment in deficit, because there is the presence of inflation in the surplus countries. The argument for flexible exchange rate system is based on national currencies, and is valid about mobility of factor, so if it is high in the country and low in the foreign countries, the flexible exchange rates system on home country currencies has to work effectively. The concept of optimum currency area has practically applicable only in those areas, where the state has the political organization in the country. The factor mobility is most considered and is more relative rather than absolute concept, with both industrial and geographical factors. It is likely to change the alterations with time over time in conditions, with the conditions of political and economic stability. Money is the convenience that restricts the optimum number of currencies, so in terms of this argument the optimum currency area which is composed in number of countries (Mundell, 1961). In another review, the author defines the stabilization of capital mobility policy under the exchange rates which is fixed and flexible in the currencies markets. It concerns the theoretical and practical approach of the increased mobility of capital. Obstfeld and Rogoff (1995) analyses the global macroeconomic dynamics to supply framework based on competition and nominal prices. This study incorporates the prices rigidities that explain exchange rate behavior without insights of the intertemporal approach to the current account. The effects of macroeconomic policies on output and exchange rates have not been yet persuaded to abandon. The framework which integrated exchange rates dynamics and current account yields is a new perspective, it realize that when prices are sticky the government should spend on shock raises short run output and long run output. The assumption is that home and foreign government purchases the consumption goods that do not directly affect the private utility, but the per capita real government consumption expenditure is a composite consumption of individual goods. It explains that the composite consumption for the services is to balance the opportunity cost and notice that the money depends on consumption rather than income, that distinction is more important in closed economies. The results of this study develop framework that give new foundations about some of the fundamentals problems in international finance. It realizes that the existing Keynesian model is incomplete to offer a satisfactory treatment of exchange rates, output and the current account, but the model which is used in this study is more complex, because it yields simple and intuitive insights of monetary and fiscal policies. It can be extended in a number of dimensions, including non traded goods, market behavior, government spending, and labor market distortions and so on. It goes beyond the essentially statistical approach that handles the current account and exchange rates issues, most importantly this approach allows to analyze the welfare implications of policies. Melvin (1985) has regarded and focused that how the choice of an exchange rate system can affect the stability of the economy. The appropriate nature of the exchange rate system has differed of the disturbance to the economy. It presented the evidence that indicate that the approach is more consistent according to practice by actual country. The other approach is to reach the desirable price stability, in which some mechanism tells the floating rates superiority has become less in the face of monetary shocks. It finds that the flexibility in exchange rates depends not on openness and less important in the mobility of capital, but its positive effects were found for the economic development. The purpose of this study is to consider the determinants of exchange rates system choice, which indicates the theoretical approach with the country choices. The result found that the choice of an exchange rate system has the role of the disturbance to the economy. It suggests that the money shocks are the key of exchange rate system choice in an economy, in which it seeks to minimize the fluctuations in the country price levels. It also suggests that the greater the price shocks the more is a float, so it affects greatly domestic money shocks. Lothian and Taylor (1996) examines the real exchange rate behavior, and explains the variations in sample of stationary univariate equations in real exchange rates. The study investigates the additional insight in the exchange rates behavior that can be gained by considering the floating rate from the perspective of the data. These issues can be best understood on the subject of real exchange rates stability between the currencies of the major industrialized countries. Some of the pre-float studies support the fairly stable exchange rates in the long run. Subsequently, Dornbusch (1976), and Frenkel (1981), gave largely as the result of studies published, and reject the hypothesis of random walk behavior of real exchange rates. The PPP shows the empirical movements in real exchange rates were highly persistent and effective. Although the PPP is reject the hypothesis of non-stationary behavior of real exchange rates in the long run. The result of this study shows that the longest span of two countries exchange rates are significantly mean reverting. The first model result indicates the 80 percent of the variation in the exchange rates of the history data of two countries. By using of another model, the results explaining the performance of remarkably well in the floating, so that this model produce better forecasts of the actual exchange rates. In line with recent studies, it fined that this process of mean reverting is quit slow, with estimated adjustment of data. In the long run the PPP equilibrium is remaining a useful empirical approximation. Gerlach (1988) examine the dynamic interrelationship between innovations in monthly industrial production in a set of economies, specifically this study attempt the output fluctuations that have been correlated during the periods of fixed and flexible exchange rates. The current has to manage exchange rates flexibility that has reduces the interdependence across countries. It should follow the recent article of Flood and Hodrick (1986) in which it is argued that the variability have been higher during a regime of fixed exchange rates instead of flexible exchange rates, but the conclusion of author is striking so sharply. The results of this study of multiple country output movements under fixed and flexible exchange rates are clear. The variances of growth rates should be higher in the flexible exchange rates and in the fixed exchange rates periods. These variances are statistically significant related to the degree of openness and national income. Thirdly the output movements are correlated across countries under exchange rate regime, particularly the co movements in output are more important in the business cycle frequently during the recent years of managed exchange rates flexibility. CHAPTER 3: RESEARCH METHODS 3.1 Method of Data Collection The Data of Consumer price index (Inflation) has been collected from federal bureau of statistics while the data of exchange rate has been collected from Pacific Exchange Rate Service, both are the secondary, published source of data. 3.2 Sampling Technique The sampling technique that has been applicable is convenience sampling as it is easily accessible to collect the relevant information from the source and it is inexpensive and hence, gets a gross estimate of the results. (What is The Advantage of Convenience Sampling, 2007-2010). 3.3 Sample size The sample size is selected on the basis of limitations and scope of the research therefore, Last 54 years i.e., 1947 2010, data of inflation and exchange rate is decided to be examined. 3.4 Research Model developed From the above defined and explanations of both the dependent i.e. inflation and independent i.e. exchange rates variables and also discussing the effects of exchange rate on inflation and how it have affects on economic of a country. In this study first analysis is the correlation between these two variables, and identifies the significant relationship. Then it analyzes and evaluates the empirical investigation in regression model as a statistical tool. The simple regression model which can be defined in the equation that represented below: Inflation = ÃŽÂ ²Ãƒ Ã‚ ¾ + ÃŽÂ ²(exchange rate) + ÃŽÂ µ Whereas, ÃŽÂ ²Ãƒ Ã‚ ¾ = the intercept of the equation. ÃŽÂ ² (exchange rate) = the changing coefficient of exchange rate. ÃŽÂ µ = the error term of the equation. From the above explained model, the study develop the following estimation and used for the establishment of the model. Therefore, all the compatible data has entered in to SPSS for statistical analysis. 3.5 Statistical Technique The statistical test that has been applied is single linear regression. This is because only one independent variable and one dependent variable to be used in this research. Frankel (1979) defined that most of the recent work on floating exchange rate goes under the name of the monetary or asset view. The exchange rate is moving to equilibrate the international demand for assets, rather than the international demand for the flow of goods. But with the asset view there is Chicago Theory in which assumes that prices are perfectly flexible. As the consequences when nominal interest rate changes, it has also reflect the changes in expected inflation rate, so as the domestic currency expected to lose value through inflation and depreciation. This is the rise in the exchange rates and gets the positive relationship between positive exchange rate and inflation. CHAPTER 4: RESULTS 4.1 Findings and Interpretation of the result The simple linear regression technique is used to determine the explanation of dependent variable i.e. inflation due to independent variable i.e. exchange rate. The analysis of the result is defined below: Accepted The hypothesis of this study is that exchange rate explains the inflation, which is being accepted and exchange rate is explaining inflation by 17.3%. These findings support to recent theories that suggested the foreign exchange market efficiency with the existence of risk at equilibrium. Wihlborg (1982) examined the relation of interest rates, exchange rate and currency risks in this study. It identifies the test which empirically shows the impact of currency on interest rates and exchange rates. In this study there are three different ways in which the importance of currency risks for interest rate and exchange rate determination. The results presented here that substantiate the changes in the level of currency risk have a non-negligible impact on the changes of exchange rates and on rates of interest of relative between currencies. CHAPTER 5: CONCLUSION, DISCUSSIONS, IMPLICATIONS AND FUTURE RESEARCH 5.1 Conclusion This study is concluded to examine the dependency of exchange rate on inflation by using the data of consumer price index (CPI) as inflation and the data of exchange rate on yearly basis. The result of this study is highly significant so that the hypothesis of this study is not rejected. The result shows that 17.3% variation in inflation is due to the exchange rate in Pakistan. The analysis of this study also shows that if exchange rate becomes zero, the inflation exist to some extent. For example, if one unit of exchange rate increases, the inflation increases only by 0.693 times. 5.2 Discussions This study has applied exchange rate as independent variable and consumer price index (CPI) as dependent variable. For the availability of data, all the data should be available on daily monthly and yearly basis, but the data is used in order to consistent as yearly basis. The regression model has been formulated for these variable relationship investigations. The study developed the hypothesis that the exchange rate explains the inflation in Pakistan, and the findings are supported by the analysis done by Balassa (1964), Meese Rogoff (1983), Frankel (1979), and Mc Callum (1999) etc. 5.3 Implications and Future Research The result also accompanies that the exchange rates are the strength of character of foreign exchange market in Pakistan, and it should effect on each of the related variables as an inflationary basis. Therefore the State Bank of Pakistan and Government officials should realize the role of exchange rates in the economy and try to maintain exchange rates to stop or decrease the consumer price index in Pakistan, so that the price range of every thing should be in range of common men. Also government should address the issues that why exchange rates increasing, and why the consumer price increases due to foreign exchange volatility. If the Government takes effective actions against these issues so it can also facilitate the investors to gain confidence in the foreign exchange market and local currency value is strong from other foreign currencies. This has turned Pakistani currency to be stronger, and which has boost the economic growth. In this study, only exchange rate is taken to predict inflation in Pakistan. But in the country like Pakistan inflation is predict by the various variables like interest rate, money supply, foreign trade and so on. So in the future research other variables should be included.