The Tools That Are Used By the European Central Bank (ECB) To Increase Essay

The Tools That Are Used By the European Central Bank (ECB) To Increase the Money Supply in the Economy - Essay Example This paper illustrates that the European central bank may use buying securities as a tool to increase the money supply in the euro area. This is through the open market operations. The ECB may affect the supply of money through selling or buying the European government securities, by the use of open market open market operations. When the ECB purchases the government securities from the general public, it will do so using the money that was not in existence in the system. This will make the bank reserves to increase or rise and in turn, will make the money supply to increase. For example, when the European Central Bank has an open market operation through buying or selling government securities and when it purchase these government securities from the public, it does so using the nonexistent money. Consequently, this makes the reserves in the bank to rise, and as a result, this increases the supply of money. The European central bank may increase the supply of the money by making the reserve rate to be lower. The ECB can do this through the formulae of the Required Reserve Ratio. Through this ratio, banks are able to know the required and specific amount which they must hold as the reserve through all the deposits and have limits to the amount that the banks will lend out to its customers. If this ratio is increased by the ECB, the money deposits will have to be few, therefore further limiting the amount available to the public. The European Central Bank may decrease the discount rate so as to increase the money supply. For example, banks may have to borrow funds when they need them. If the banks borrow from the ECB, an interest rate will be paid which is known as Discount rate. Another tool that can be used by the ECB to increase the supply of money in the economy is the publishing or producing of more money. Though the ECB may decide to increase the money supply in the economy through the selling of securities to the public, a majority of the public prefer ho arding money thus the money in circulation becomes less. It is for this reason and may be less availability of money that the ECB may decide to publish more money to increase the money supply in the economy.

Research and recommend environmentally friendly elements to be used in Essay - 1

Research and recommend environmentally friendly elements to be used in the construction of a multi storey commercial building - Essay Example These ensure that client satisfaction and deign excellence. The chief task of this paper is to recommend environmentally friendly elements to be employed in the use of the construction of a multi-storey building. Green building is both cost effective and environmentally friendly. Wood is among the core materials used in the construction of buildings. In context to multi-storey buildings, the ratio of steel, glass and concrete, is significantly more. However, this ratio must change while building green. In this endeavor, timber-concrete composite is favorable for this building. It comprises of timber beams being interconnected to slabs of concrete that are then cast on timber members. This introduces cost saving measures and efficient control of building materials.   Ã‚  Ã‚  Ã‚   In context to the roof, clay roofing tiles are the best environmentally friendly option to pursue. Clay is a hundred percent recyclable as such the core rationale for its inclusion as a preferred building material. Owing to their durability, significant saving will be expected. This will be in terms of cost of repair. An additional factor for clay is that an increasing number of clay manufacturing companies are offering post consumer recycled clay tiles. Thus, the roofing system will always be up to date. Painting has been discovered to be among the most toxic chemicals in buildings (RIDER et al., 2011). Therefore, environmentally friendly paint must be used. The paint to be used on the building should be of low or no VOC paint. Natural pigmented paints should be the only paint to be used. As such, Ecosure Matt by Deluxe Trade is the best alternative. A case study conducted on Rimrose Hope CE Primary School explicates on both the sustainability and performance of this natural paint. The normal insulation systems are a product of toxic materials. An environmentally friendly insulation system comprises of blue jean denim. It entirely uses

Summary On Turkey Import Export Economics Essay

Summary On Turkey Import Export Economics Essay Turkey is officially known as the Republic of Turkey is a Eurasian country located in Western Asia mostly in the Anatolian peninsula and in East Thrace in South-eastern Europe. Turkeys location at the crossroads of Europe and Asia makes it a country of significant geostrategic importance. In addition to its strategic location, Turkeys growing economy and diplomatic initiatives have led to its recognition as a regional power in the Middle East. According to the Organisation for Economic Co-operation and Development (OECD) , Turkey is expected to be the fastest growing economy among OECD members between 2011 and 2017, with an annual average growth rate of 6.7 percent. Although immigration from rural to urban areas since 1990 has been high, 24.5% of the population still lives in rural areas. The major cities and their populations are: Istanbul, the trade and finance centre, 12.9 million; Ankara, the capital, 4.7 million; Izmir a major player in the dairy, greenhouse and tourism sector, 3.9 million; Bursa, the centre of automotive manufacturing and food processing, 2.6 million; Adana, the centre of agricultural production,2.1 million; Konya, the canter of grain production, 2.0 million; and Antalya, the centre of vegetable production and tourism sector, 1.9 million. The population of Turkey is expected to reach 75.8 in 2013 and 77.6 million in 2015. Seventy-two percent of the population is under the age of 35 and 26% is under t he age of 15. Parameter Value in Year 2010 : Population 74 million, Labour Force (Population) 25.9 million Median Age 29.2, GDP USD 736 billion, GDP Per Capita USD 10,079, Exports Value USD 120.9 billion, Imports Value USD 185 billion, Tourism Revenue USD 20.8 billion, Tourist Number 28.5 million people, Foreign Direct Investment USD 9.1 billion, Number of Companies with Foreign Capital 25,500, Inflation Rate 6.4%. Turkeys largely free-market economy is increasingly driven by its industry and service sectors, although its traditional agriculture sector still accounts for about 25% of employment. An aggressive privatization program has reduced state involvement in basic industry, banking, transport, and communication, and an emerging cadre of middle-class entrepreneurs is adding dynamism to the economy and expanding production beyond the traditional textiles and clothing sectors. The automotive, construction, and electronics industries, are rising in importance and have surpassed textiles within Turkeys export mix. Oil began to flow through the Baku-Tbilisi-Ceyhan pipeline, marking a major milestone that will bring up to 1 million barrels per day from the Caspian to market. Several gas pipelines projects also are moving forward to help transport Central Asian gas to Europe through Turkey, which over the long term will help address Turkeys dependence on imported oil and gas to meet 97% of its ene rgy needs. After Turkey experienced a severe financial crisis, Ankara adopted financial and fiscal reforms as part of an IMF program. Turkeys public sector debt to GDP ratio has fallen to roughly 40%. Continued strong growth has pushed inflation to the 8% level, however, and worsened an already high current account deficit. Turkey remains dependent on often volatile, short-term investment to finance its large trade deficit. The stock value of FDI stood at $99 billion at year-end 2011. Inflows have slowed considerably in light of continuing economic turmoil in Europe, the source of much of Turkeys FDI. Further economic and judicial reforms and prospective EU membership are expected to boost Turkeys attractiveness to foreign investors. However, Turkeys relatively high current account deficit, uncertainty related to monetary policy-making, and political turmoil within Turkeys neighbourhood leave the economy vulnerable to destabilizing shifts in investor confidence. IMPORT REGULATION Overall, Turkey has a relatively free market for trade in goods and services as a result of liberalization measures introduced over the past two decades. Turkey follows basic WTO rules to regulate imports and tariff structures and has adopted the European Union (EU)s common customs tariff for imports from third countries. Turkey signed a customs union with the EU in 1996, eliminating all duties and charges on goods imported from EU member countries, excluding services, public procurement and unprocessed agricultural products. Turkey has signed free trade agreements with various countries and extends preferential treatment for least developed countries and some developing countries. TARIFFS AND CLASSIFCATION OF GOODS Turkeys tariff schedule is based on both the Harmonized Coding System (HS) and the Combined Nomenclature (CN) of the European Union within the framework of the Customs Union. Import duties are calculated on cost, insurance and freight (CIF) prices and are levied as a percentage on the landed value of the good. The importer is responsible for payment of the Turkish value-added tax (VAT), which is set at 18% for the majority of imports or 26% for luxury goods. Goods on which duty was paid on entry to an EU country can be admitted duty-free to Turkey and vice versa (with exceptions for agricultural goods and some industrial products). Clearance time is usually one to three days, depending on the type of freight. In the event of a classification dispute, the higher duty can be paid with the intent to seek reimbursement at a later date STANDARD The Turkish Standards Institute (TSE) is responsible for setting standards in Turkey. TSE approval is required to import any product covered under these standards. Many categories of products are subject to restrictions and special requirements such as narcotics (prohibited) and weapons (subject to strict license control). Items such as live animals, medicines and pharmaceuticals, food and plant products, organic chemicals, telecommunications equipment, ozone-depleting substances, explosives, banknotes and commercial paper, radioactive materials and temporary import of goods for exhibition may require additional permissions and certificates from government agencies. FOREIGN INVESTMENT IN TURKEY Foreign direct investment plays an important role in the Turkish economy. The Government has introduced reforms to improve the investment environment in Turkey, such as simplified procedures, new legislation and tax incentives to attract foreign investors. Under Turkeys programme to privatize state enterprises, foreign investors benefit from the same rights and incentives as local investors. FREE TRADE ZONES IN TURKEY Turkey has numerous free trade zones, considered to be outside the jurisdiction of Turkish customs authorities. Goods can be imported duty-free, assembled, manufactured, stored, repackaged and re-exported without paying tariffs. Unlike many free zones around the world, Turkish free zones allow sales into the Turkish market, subject to a fee. EXPORT REGULATION TRANSIT 1 Increased concern on the transit of dual-use items within Turkey as well as within the international community. Relevant Turkish legislation 1 The related provisions of the under secretariat of Foreign Trade Communiquà © 2003/12 on the Control of Exports of Dual-Use and Sensitive Items. The related provisions of the Customs Law no. 4458 dated 5 February 2000 which conforms with EU Customs Code (Council Regulation 2913/92). TRANSIT 2 Relevant Turkish legislation 2 Anti Smuggling Law no. 5607. Within this legislative framework, transits of items that are subject to export controls are treated on a case-by-case basis within the scope of interagency cooperation. ENFORCEMENT -1 Located in a sensitive geography where transit-trade and transit-shipment is common, customs enforcement and ground interdiction in general is of prime importance to Turkey. Customs authorities use an extensive database for enforcement purposes. New security systems have also been developed and established to prevent illegal trafficking of goods. ENFORCEMENT- 2 Intelligence and Land Border Gates Vehicle Pursuit Program has been developed. System currently operates at strategically important land border gates and seaports. All alerts and intelligence information about suspected vehicles, goods, firms, brokers and other actors are introduced into this program and forwarded to all regional units. ENFORCEMENT- 3 Fixed and mobile vehicle and container scanning systems Fixed, mobile and handheld radiation detection units Transit Vehicle Traction System / Monitoring of movements at the Control Centre in Ankara. System alerts enforcement officers when The vehicle leaves its specified route within Turkey, or The vehicle remains outside the path already specified, The mobile tracking unit is removed. EXPORT CONTROLS: COOPERATION ON THE GROUND We receive intelligence (either through own Intel channels or through international cooperation. Immediate action by MFA: call on board interagency task force. Depending on the intelligence: relevant export control authority + intelligence insight sought + if necessary military advice (including naval/air). Ability to confirm proper licensing/customs info. Intelligence needs to be on time and accurate. A CHALLENGE IN EXPORT CONTROLS-FREE ZONES-1 Constitutes a loophole within control systems. Can be exploited by proliferators. The transfer of sensitive items to other destinations is difficult to trace. The burden of the exporter country is increased In Turkey: transfer of dual-use items into free zones in Turkey are subject to licensing according to the export legislation. A CHALLENGE IN EXPORT CONTROLS-FREE ZONES-2 The items transferred into the free zones cannot be transferred out of the free zone without the permission of the under secretariat of Foreign Trade (UFT). Import Certificate and End-user Certificate is required for the transfer. If and when necessary, UFT consults other relevant institutions before granting permission. The UFT has the authority to deny or postpone the transfer. RECENTLY CHANGED REGULATIONS In December 2011 several amendments were made in the regulations which include : Official import controls of plant origin food and feed , Measurements to monitor certain substances and their residue on live animals and animal products, Food Hygiene , Food premises registration and approval , Food and Feed official control ,Pre-notification and veterinary checks of animal and animal products entering to the country, Specific rules for animal products official inspections, Veterinary checks on products entering to the country, Veterinary checks on live animals entering to the country, Domestic animal and animal products movements, Animal Hospital regulation , Veterinary checks on animal and animal products entering to the country, Animal welfare regulations, Protection and combating measurements against cattle leucosis, Protection and combating measurements against cattle anthrax, Surveillance of zoonose and zoonotic agents, related antimicrobial resistance and food borne outbreak, Cri teria of livestock markets registration and inspections, Animal welfare during animal transportation, Animal by products that are not intended to use for human consumption, Sperm, Ovum and Embryo production centre establishment, Special hygiene regulation for animal products, Feed hygiene, placing on the market and use of feed, methods of sampling and analysis for the official control of feed, Turkish food codex, Maximum residue limits of pesticides, Flavorings and certain food ingredients with flavoring properties, Food additives, Microbiological criteria for foodstuff, labelling, Contamination, Materials and articles intended to come into contact with food, Import inspection regulating, In December 2012 amendments were made in the regulations which include : Bread and varieties of Bread, methods of sampling for chemical analysis for the monitoring of preserved milk, composition and labelling of foodstuffs suitable for people intolerant to gluten, sampling, testing method for dioxin and similar products, methods of sampling for chemical analysis of edible caseins and caseinates, indications or marks identifying the lot to which a foodstuff belongs TURKEY IMPORTS-EXPORTS EXPORT $133 billion (2011) $120.9 billion (2010) EXPORTS-COMMODITIES Apparel, Foodstuffs, Textiles, Metal Manufactures, Transport Equipment EXPORTS-PARTNERS Germany 10.1%, UK 6.4%, Italy 5.7%, France 5.3%, Iraq 5.3%, Russia 4.1% (2010) TURKEY EXPORTS BY PRODUCT in 2010 (In US DOLLORS ($)) Food and Live Animals 6,512,339,000 Beverages and Tobacco 736,445,000 Crude materials ,Inedible, Except fuels 1,334,833,000 Mineral Fuels ,Lubricants and Related Material 2,641,023,000 Animal and Vegetable Oils, Fats and Waxes 405,300,000 Chemicals and Related Products 2,801,266,000 Manufactured Goods classified chiefly by Material 20,408,933,000 Machinery and Transport Equipment 21,005,357,000 Miscellaneous Manufactured Articles 15,947,496,000 Commodities and Transact-ions not classified elsewhere in the SITC 1,106,838,000 ELECTRICITY EXPORTS (million kWh) IN 2012 -1550 OIL EXPORTS 68,450 bbl/day (2011) NATURAL GAS-EXPORTS 649 million cu m (2011) IMPORTS $212.2 billion (2011) $185 billion (2010) IMPORTS-COMMODITIES Machinery, Chemicals, Semi-Finished Goods, Fuels, Transport Equipment IMPORTS-PARTNERS Russia 11.6%, Germany 9.5%, China 9.3%, US 6.6%, Italy 5.5%, France 4.4%, Iran 4.1% (2010) TURKEY IMPORTS BY PRODUCT SECTION YEAR 2010 (In US DOLLORS ($)) Food and Live Animals -1,615,878,000 Beverages and Tobacco -298,876,000 Crude materials, inedible ,except fuels 7,660,516,000 Mineral Fuels, Lubricants and Related Materials 15,764,234,000 Animal and Vegetable Oils, Fats and Waxes 744,731,000 Chemicals and Related Products 16,166,494,000 Manufactured Goods classified chiefly by Material 19,989,660,000 Machinery and Transport Equipment 37,808,892,000 Miscellaneous Manufactured Articles 6,615,182,000 Commodities and Transactions not classified elsewhere in the SITC 10,109,685,000 OIL IMPORTS 581,000 bbl/day (2011) NATURAL GAS-IMPORTS 38.04 billion cu m (2011) GROSS DOMESTIC PRODUCT (GDP) This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nations GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. GDP (PURCHASING POWER PARITY) $1.026 trillion (2011) $981.2 billion (2010) $906.9 billion (2009) Note: data are in 2011 US dollars Source: International Monetary Fund 2011 World Economic Outlook GDP REAL GROWTH RATE 4.6% (2011) 8.2% (2010) 4.7% (2009) Variable: Gross domestic product, constant prices Units: Percent change Country-specific Note: See notes for: Gross domestic product, constant prices (National currency). Source: International Monetary Fund 2011 World Economic Outlook Year Gross domestic product, constant prices 2008 0.659 2009 -4.826 2010 8.945 GDP PER CAPITA (PPP) $14,600 (2011) $13,800 (2010) $12,900 (2009) Note: data are in 2011 US dollars Year Gross domestic product based on purchasing-power-parity (PPP) per capita GDP Percent Change 2008 13107.54 1.68 2009 12460.79 -4.93 2010 13577.11 8.96 GDP COMPOSITION BY SECTOR Agriculture: 9.3% Industry: 28.1% Services: 62.6% (2011) AGRICULTURE SECTOR Agriculture has always been one of the most promising sectors for Turkey, both for the domestic economy and in terms of international trade. Around 40 percent of Turkeys land area is arable and offers a large range of products such as grains, pulses, oil seeds, fruits and vegetables, cut flowers, poultry, dairy products, seafood, honey and tobacco. Grain production, livestock and fisheries/forestry account for 67 percent, 26 percent and 7 percent of the total agricultural production, respectively. Turkeys agricultural imports in 2010 and 2011, excluding processed food, reached USD 6.49 billion (3.49 percent of the total imports) and USD 8.94 (3.7 percent of the total imports), respectively. Export were USD 5.09 billion (4 percent of total exports) in 2010 and USD 5.35 (3.9 percent of total exports) in 2011. The top Turkish exports are dried figs, dried apricots, sultana raisins, hazelnuts and hazelnut products. Turkeys top imports are cotton, soybeans, hides and skins, feed ingredients, live animals and paddy rice. FOOD PURCHASING BEHAVIOUR The Turkish food sector is becoming more advanced due to retailer demands for higher standards and investments by food manufactures. Through the widespread presence of modern international and domestic grocery retail outlets such as Metro, Carrefour, Tesco and Migros as well as rising incomes, the consumption patterns of Turkish consumers have shifted away from bulk and raw foods towards packaged and processed foods, including ready-to-eat meals and frozen foods. An increase in the number of females working full-time and higher levels of disposable income has supported this trend. This is particularly the case in urban centres. The major food consumption patterns have not changed as much in the rural areas and are still based on wheat and grain products and a variety of meat products. Consumers in the south east of Turkey mainly consume lamb, but in Central Anatolia and the West more consumers prefer beef. Milk consumption has not increased as quickly as milk production, which increa sed from 8 million MT in 2002 to 12.5 million MT in 2011, but the variety of milk products such as yogurt and cheese increased. There are still a lot of opportunities for investments in the dairy products sector but products should be adjusted to local tastes. Turkey should be considered a door to Middle Eastern market. Due to shared history and religion as well as common cultures, Turkish agriculture and food export to the Middle East increased dramatically in the past decade. The Halal and organic food subsectors are areas which could be ready for investments or partnerships in the region. Production in the food and beverage sector reached TRY 8,852 million in 2009, which constitutes 18-20 percent of the countrys production as a whole. The proportion of Turkish household expenditure allocated to food and beverages, which was around 23 percent and declined to about 21.9 percent in 2009, remains high compared with Western standards, which range between 15-20 percent. But Alcoholic beverages and tobacco expenditures increased from 4.1 percent to 4.5 percent in 2009-10. Total consumer spending on food, beverages and tobacco was estimated at around USD 145 billion in 2010. The Turkish economy grew 15.7 fold between 1980 and 2010 from TRY 70 billion to 1,105 billion whereas the food sector grew 14.8 fold from TRY 15 billion to 222 billion in the same period. Accordingly, the share of the food sector in Turkeys GDP dropped to 20.1% in 2010 from 21.4% in 1998. The Turkish diet contains a large share of baked goods. Hence, the bakery subsector forms the majority (65 percent) of the total number of food and beverage companies in Turkey. In 2011 Turkey consumed 11,486,000 MT of bread and only 33,600 MT of packaged bread. Turkish consumers tend to buy bread from small bakeries when it is hot and generally dont buy packaged sliced bread. Another important bakery product is the Simit (type of bagel) as well as salty cookie-like products. Modern bakery shops have begun to open, especially in Istanbul, but that is not widespread throughout Turkey. Moreover, due to the low quality of flour available in Turkey, pita style bread is popular in East and South East Anatolia. Therefore, the bakery sector in general offers a lot of opportunities for growth and development. FINDING BUSINESS PARTNERS IN TURKEY There are 467 foreign companies actively operating in the Turkish food sector. Cargill, Bunge, Nestle, Unilever, Coca-Cola, and Pepsi-Co are some of the most prominent ones. Restaurant franchises are one way of introducing new products. An increasing number of restaurant chains are opening in Turkey, especially in Istanbul. These include casual dining, fast food and cafes. While most of these companies source food ingredients produced in Turkey, some require specialized ingredients or imports of certain items that are not readily available. Exporters should check with importers to see if they are approved suppliers for franchises. Additionally, Turkeys hotel sector has traditionally represented an important niche market for certain high-value food products that cannot be readily found throughout Turkey. Turkey attracts 30 million tourists every year, especially in Istanbul and Antalya. There are 336 five star and 543 four star hotels in Turkey and most of them are located in Antalya and Istanbul. Global hotel chains including the Marriot, Hilton and Sheraton have a strong presence in Turkey. Turkey is a major tourism destination for Germans, Russians, British and Scandinavian travellers. Five star hotels would like to offer more high-quality products to their customers. Fresh fruits and vegetables are readily available in Turkey but high quality meat (especially steak) and fishery products (especially shrimp and crab) can be extremely difficult to source. Trader associations are also very important contacts for those seeking to enter the market. The Feed Millers Association, Turkish Food and Drink Industry Association Federation, and Poultry Meat Producers and Breeders Association are examples of important traders organizations. (See Annex A for more details). A visit to Turkey to gain a first-hand information about the Turkish market, preferably coinciding with a major trade show such as FOODÄ °ST (See Annex C for more details), is a good way to get started before entering the Turkish market and meeting prospective importers. Similarly, international food shows such as ANUGA, SIAL and Gulfood area attracting more and more Turkish importers, and may also be a way to meet prospective customers. TRADE POLICY The major barrier to selling agricultural products to Turkey is high tariff rates. The tariff for beef cuts is bound at 225%, for milk is 150%, for white cheese is 80%, and for wheat and corn is normally 130% (depending on demand, the government can temporarily lower tariffs).Turkey and the United States signed an import protocol allowing imports of live dairy breeding cattle and for fattening cattle. However, neither a protocol for slaughter cattle, nor for cut beef has been negotiated. Another major barrier is a new Bio safety Law which has been enforced in Turkey since September 26, 2010. The law banned importation of any GMO products until the genes contained within go through a lengthy approval process. On January 26, 2011, Turkeys Bio safety Board approved the three biotech traits for soybeans (A2704-12, MON89788,MON40-3-2) for feed use that were approved in the European Union at the time, allowing U.S. soybeans to enter Turkey for feed use only. Then on December 24, 2011, The Bio safety Board approved 13 corn (see annex D for more information) events for feed use. The remaining 9 events have been reviewed, but due to a negative recommendation by the committees, approval will be difficult. New import regulations were published in the Official Gazette dated December 30, 2011. Changes in these regulations reflected that fact that the Ministry of Food Agriculture and Livestock (previously known as the Ministry of Agriculture and Rural Affairs) was reorganized in 2011 and divided oversight of plant and animal products. According to the new import regime, plant and plant products no longer require control certificate (Find more details in Annex F) however the importer must pre-notify imports of material according to the information provided below. Some animal and animal products now require control certificates. A list of products which require control certificates is given in Annex E Most Turkish agriculture-related regulations, laws, communiquà ©s, directives, and notifications are available on the website of the General Directorate of Food Control (GDFC) of the Ministry of Food, Agriculture and Livestock (MINFAL): www.gkgm.gov.tr. Some of the regulations have an English translation available on the same website. The legal infrastructure of agriculture is mainly based on communiquà ©s rather than on laws. The reason for this is that the Turkish constitutional system does not allow laws to be adopted, amended or abolished easily. Therefore governments have traditionally preferred to publish communiquà ©s or regulations in order to maintain flexibility. As you will see from table below, currently the main policy goal of Turkish food and agriculture officials is to harmonize the related laws and regulations with the EU Acquis Communitarians. Sometimes it appears that this concern overwhelms other concerns such as national interest and farmer interests. IMPORT DUTIES High tariffs on the majority of food items continue to hinder the growth of food imports from the United States (see Annex G for tariff rates of important products). Import tariffs on consumer food products range from zero to 225 percent, but most products face tariffs in the range of 40-50 percent. Turkey has considerable flexibility in raising or lowering tariffs. Consequently, tariffs are subject to review and change, especially on December 30. Tariffs can vary and often depend on whether there is a need to import or not. Turkey normally applies the highest/bound rates for some products such as meat cuts at 225%. Some products, however, like cereals, have high tariff rates at 130% although still below the bound rate of 180%. Due to high meat prices last year, allowed imports of carcass meat (but not cuts) and lowered the customs tax from 225% to 30% at first, then slowly raised the tariff back to 75% when meat prices dropped slowly. Where there is strong demand but a lack of domestic supply, the applied tariff can be very low such 8% for soybeans, and DDGS at 4.3%. Turkish corn producers and soy millers are calling on the government to raise the bound rate on DDGS but, since it is bound, they use non-tariff barriers such as standards that are difficult to meet. Two important government agencies receive special tariff quotas when acting as importer get special tariff quotas. The Turkish Grain Board (TMO) (www.tmo.gov.tr) usually procures grain from the domestic market but when there is a need to import the government allocates a special zero tariff rate import quota for TMO. The other institute is The Meat and Fish Institute (www.ebk.gov.tr), which acts to control domestic meat prices and also receives reduced tariff meat import quotas from the government when there is a need. CUSTOMS INSPECTION AND DOCUMENTATION Upon entry of the product at Customs, the importer should be prepared to present the approved control certificate if required as well as other normal import documentation such as the bill of lading, original invoice and certificate of origin. In addition, the importer should be prepared to present Customs with the exporting companys analysis report for physical, chemical, microbiological and heavy metal content, and a certificate from the official food inspection agency of the country of origin stating that the product meets the quarantine requirements of the importing country. Turkish Ministry of Agriculture, Food and Livestock (MINFAL) officials take samples of the imported product to government laboratories for physical, chemical and microbiological analysis and confirm it matches the information supplied from the exporting country. Import of the foodstuff is allowed if the results of the analysis are found to be acceptable and consistent with Turkish regulations, and the imports have been approved by MINFAL. Results of the analysis are normally received within a few working days. If the inspection results do not match with Turkish requirements, the importer may request secondary sample tests. In the case that the secondary test results are also against the Turkish import requirements then the shipment is rejected by MINFAL authorities or they allow special treatments under specific circumstances.

Appearance vs. Reality in Merchant Of Venice Essay example -- Merchant

The theme of Appearance Vs. Reality is used throughout the play to mislead and confuse so things may not always be what they seem. Shakespeare uses deception to enhance the unfolding drama and involve his audience more fully in the play – the audience are party to deceptions which the characters themselves are unaware of. Prejudice was common and the word â€Å"Jew† applied to hardhearted unscrupulous moneylenders. An Elizabethan audience would have been happy to see a Jew, Spaniard or a Moor deceived and Shakespeare clearly tried to give his audience what it wanted. In contrast, many, particularly ladies, would have admired the strong and witty Portia and even though she appears arrogant and racist this would have been accepted in Elizabethan England. Any deception carried out by Portia would therefore be admired and applauded by Shakespeare’s audience and it is not surprising therefore she carries out that many deceptions. A major theme running though the play is that of Christians disliking Jews and Jews returning the feelings. Towards the start of the play Shakespeare introduces deception when Antonio (a Christian) wants a bond from Shylock (a Jew). Shylock agrees to the bond under the condition that Shylock gets a pound of Antonio’s flesh for each pound he cannot return. This bond seems to come out of friendship from Shylock and he describes, â€Å"I would be friends with you, and have your love†¦Ã¢â‚¬  The audience, however, knows at this point that Shylock is deceiving Antonio; although Shylock pretends to like Antonio â€Å"Antonio is a good man† and wants to be friends he has already expressed to the audience his hatred for Antonio. Shylock also describes the bond as â€Å"this merry bond†. A merry bond is a bond which is not serious, a joke, and if the terms of the bond were broken you would not expect to see Shylock wanting to take up the strict terms of it. Again, this is another deception, as later in the play Shylock wants full revenge by taking his pounds of flesh from Antonio. These are two deceptions played on Antonio by Shylock. An Elizabethan audience might expect nothing less of a Jew. By hiding his hatred for Antonio and making light of the pound of flesh, Shylock succeeds in his deception. The next deception is the elopement of Jessica and Lorenzo; a deception in this instant against Shylock. Lorenzo doesn’t care about the consequences to Shylock a... ...eceit when they elope. Deception and intrigue were very common in Shakespeare’s times. He writes about deception as it is what he saw around him and also because it holds his audience’s attention especially when the audience know a character in the play is deceiving another but the other character is not aware of this. Therefore, through deception Shakespeare brings his audience into the play itself and maintains their interest. They would have greatly appreciated being involved in the deceits and lies and would have been familiar, from life around them, with the concept of deception and enjoyed it. The line â€Å"All that glistens is not gold† has survived over 400 years and is used today to warn that outward appearances may mask what is on the inside and this is the message of Shakespeare’s play. Whether Shakespeare was using deception to put across such a message or just to entertain his audience or both, the use of deception gives the play an intriguing plot, with heroes and villains and a theme which his Elizabethan audience could easily relate to. Work Cited Kaplan, M. Lindsay, ed. William Shakespeare: The Merchant of Venice. Bedford/ St. Martin’s: New York, 2002.

Strategic Management and Stakeholder Significance Grid

Business Strategy- ASSIGNMENT #1. Outcome| Evidence for the criteria| Detail criteria| Check| Understand the process of strategic planningLO1| 1. 1. Explain strategic contexts and terminology – missions, visions, objectives, goals, core competenciesChapter 1| Role of strategy | | | | Missions | | | | Visions | | | | Strategic intent | | | | Objectives goals | | | | Core competencies | | | | Strategic architecture | | | | Strategic control| | | 1. 2. Review the issues involved in strategic planningChapter 6| Impact on managers | | | | Targets | | | When to plan | | | | Who should be involved | | | | Role of planning| | | 1. 3. Explain different planning techniquesChapter 6| BCG growth-share matrix| | | | Directional policy matrices| | | | Space| | | | PIMS| | Be able to formulate a new strategyLO2| 2. 1. Produce an organisational audit for a given organisationChapter 3| Benchmarking | | | | Swot analysis | | | | Product positions | | | | Value-chain analysis | | | | Demographic influences | | | | Scenario planning | | | | Synergy culture and values. | | | 2. 2.Carry out an environmental audit for a given organisationChapter 2| PESTEL| | | Political | | | | Economic | | | | Socio-cultural | | | | Technological | | | | Environmental | | | | Legal | | | | Porter's 5 force| | | The threat of new entrants | | | | The power of buyers | | | | The power of suppliers | | | | The threat of substitutes | | | | Competitive rivalry | | | | Collaboration| | | 2. 3. Explain the significance of stakeholder analysisChapter 1| Stakeholder significance grid | | | | Stakeholder mapping| | Merit and Distinction: Criteria 1. : future direction of the competition, needs of customers, gaining and maintaining competitive advantage, Ansoffs growth-vector matrix, portfolio analysis. Criteria 1. 2: informal planning, top-down planning, bottom-up planning, behavioural approaches. Criteria 2. 1: the Ansoff matrix, growth, stability, profitability, efficiency, market leadership, surviv al, mergers and acquisitions, expansion into the global market place. Business Strategy- ASSIGNMENT #1 (S04) Outcome| Evidence for the criteria| Detail criteria| Check| Analyze how the business environment is considered in strategy formulationLO1| 1. . Define the context of business strategyChapter 1| Role of strategy | | | | Missions | | | | Visions | | | | Strategic intent | | | | Objectives goals | | | | Core competencies | | | | Strategic architecture | | | | Strategic control| | | 1. 2. Explain the significance of stakeholder analysisChapter 1| Stakeholder significance grid | | | | Stakeholder mapping | | | 1. 3. Conduct an environmental and organizational audit of a given organizationChapter 2Chapter 3+4+5| Political | | | | Economic | | | | Socio-cultural | | | | Technological | | | Environmental | | | | Legal | | | | The threat of new entrants | | | | The power of buyers | | | | The power of suppliers | | | | The threat of substitutes | | | | Competitive rivalry | | | | Coll aboration| | | | Benchmarking | | | | Swot analysis | | | | Product positions | | | | Value-chain analysis | | | | Demographic influences | | | | Scenario planning | | | | Synergy culture and values. | | | 1. 4. Apply strategic positioning techniques to the analysis of a given organizationChapter 4+5+6| BCG growth-share matrix| | | | Directional policy matrices| | | Space| | | | PIMS| | Understand the process of strategic planningLO2| 2. 1. Demonstrate an ability to think strategicallyChapter 6| Futuredirection of the competition| | | | Needs of customers| | | | Gaining ; maintaining competitive advantage| | | | Ansoffs growth-vector matrix| | | | Portfolio analysis| | | 2. 2. Prepare a strategic plan for a given organisation, based on previous analysisChapter 6+7| Impact on managers | | | | Targets | | | | When to plan | | | | Who should be involved | | | | Role of planning| | | | Planning systems| |

Needs of Customer Essay

When customers walk into a restaurant, whether it is McDonald’s or Chez Pierre, they expect to be acknowledged. This is a small service, but it is imperative to the success of the restaurant, as customers who are not greeted may simply walk out and eat somewhere else. The type of host a restaurant has will depend on the type of restaurant it is as well as how busy it is. Some restaurants pay hosts to greet customers, call names off waiting lists and walk customers to their tables. In other restaurants, management and wait staff take over this duty. Regardless of what you can afford for your restaurant, always make sure someone has the responsibility of greeting the guests and that person knows it is her responsibility. Wait Staff When customers go to a restaurant, they expect a good wait staff, unless they are dining at a fast-food chain. Even then, customers expect the counter workers to get their orders right in an appropriate amount of time and solve problems quickly and courteously. In traditional, sit-down restaurants, customers expect the wait staff to be attentive, but not too attentive. Wait staff should not hover or interrupt, but they also should come back frequently enough to attend to their customers’ needs. In addition, they should bring food in a timely manner and handle problems, such as food that has been sent back pleasantly. Customers also expect wait staff to be friendly and personable. Environment Customers usually go to restaurants to meet with others socially in a friendly environment. Although environment is not usually considered a service, service plays a large role in creating a good environment. In addition to making sure the restaurant is clean, attractive and the decor is consistent with the food and restaurant’s image, restaurant owners need to tell their staff it’s OK to let guests linger. Wait staff should not hint that it is time for the guests to go. For example, they should not rush the food to the table unless the customer requests it. They also should not start to clean nearby tables in an obvious manner or wait for customers to get out their money to pay the check. To the contrary, wait staff should say things like, â€Å"Feel free to chat as long as you like — let me know if you’ll need some dessert or a drink refill. † Food and Drink Probably the most important service that a customer expects to receive when dining out is a good selection of delicious and well-presented food. According to London wine writer Jamie Goode, it is more important that food be simple and good tasting, made with quality ingredients, than to be fancy or pretentious. Goode also notes that customers expect a large wine selection that is not overpriced. Furthermore, customers expect food to be consistent with the image of the restaurant. Customers who are dining at a family restaurant, for example, expect sandwiches, traditional dinners and moderate prices. At a more elegant restaurant, prices can be higher but food needs to be more of the gourmet variety.