Benefits of international trade and economic integration in Sri Lanka

Benefits of international trade and economic integration in Sri Lanka Introduction Each country has its own natural resources, natural endowments and its benefits. Also countries are having limited resources and unlimited needs and wants. Different Country has different resources at different limit to fulfill their needs and wants. Therefore counties do try to overcome from these problems and do businesses with other countries through international trade and economic integration. Tea industry in Sri Lanka is one of the main business in which the country gets foreign currency and is also the main drink of ordinary Sri Lankans. The demand for tea products are increasing in the world market. So the article is about the Sri Lankan tea products, and the current economy of the country. Since the country is having mixed economy and also the economic system is playing vital role in the growth of the country. Also government intervention in the business is also included in the article. Government also has policies to achieve its objectives. Moreover this will include the market structure and market force as well as international trade and economic integration. Tea Products Our country Sri Lanka is one of the developing countries in Asia. The main businesses of our country include tourism, tea export, apparel, textile, rice production and other agricultural products. The main industries from which our country gains foreign currency are Tea business and Tourism industry. Recently, our country has become one of the countries exporting fair trade tea to the UK and other countries. Tea is one of the main drinks of ordinary people. And the demands for tea products are increasing day by day. There are many different tea products in market. Current Economy of Sri Lanka Our country has most strong growth rate of economy in recent years. Inflation has been high but declining, averaging 9.2 percent between 2007 and 2009. The government influences prices through regulations, state-owned enterprises, and subsidies for a wide array of goods. The inflation rate of consumer prices has been reduced in 2010. And the country is having high growth after the end of civil war. INFLATION RATE Figure 1 : Inflation rate (consumer prices) http://www.indexmundi.com/sri_lanka/inflation_rate_%28consumer_prices%29.html Our government is trying to reduce the unemployment and increase the foreign investment for the economic growth of the country. Our Sri Lankas tea plantation provides lots of job opportunity to Sri Lankans. Tea plantations consist of approximately 220,000 workers and dependent population. So it shows the tea industry consist the huge number of job opportunity and have reduced the unemployment for some extent. According to the GDP real growth rate it shows that 2002 the GDP of the country was declined and after that the economy has grown. http://www.indexmundi.com/g/g.aspx?c=cev=66 Economic system and government intervention We are having mixed economic system where the government allows and helps privet businesses to grow in the market and also to open new businesses. Mixed economy is one of the main reasons for the proper use of resource available in the country and the government rules and regulation plays vital role. Since Economic policy has been a key topic of debate among the people who are interested in growth and development, the country have economic policies which consists distinct sections such as development strategy and, macroeconomic policy, agriculture, industry and technology development, employment and labour, institutional and governance issues, and social welfare and many others polices are for the benefit of the country or for the development of the country. And these policies help the country to have clear idea of the country position and are plans to achieve the aims of the country. Last year government has promised to provide loans for the Agricultural development of country. It also includes improvement and profitability to marginal tea land. And expect new land will come under Tea aided by these loan facilities. The main aim is to encourage small business entrepreneurship. As result households and individuals will be benefited and also it will increase the living standard and employment can be increased. The main aim of our government is to raising the standards of living and take in a higher quality of life by increasing income, employment level, and through the increase of total production of country, thereby actively contributing to the overall economic growth of our country. http://lankagazette.com/topstories/us-25mn-loan-for-tea-small-holders-to-develop-3500-hectares-of-new-land/ The policies decide about the budget of the country and how they are going achieve the objective. The governmental organization and institution helped to promote of tea industry in our country Sri Lanka in order to evaluate their role and contribution to the economic development of the country. During down fall of the industry, various government institutions were established to help and developed the industry, Also our government has considered the problem of a lack of skilled workers in the tea industry, and plans are underway to start a program to train the workers in necessary job categories. According to the discussion held with the minister of professional and technical training, who said that under the program, skilled workers would be trained in the categories such as field officers, production officers, technical officers, electricians and tea plantation workers. It shows that government helps the businesses to overcome from market failure through stability of the economy and through promotion of positive externalities, provision of public goods and services (financed through taxation) and through efficient resource allocation. http://goliath.ecnext.com/coms2/gi_0199-7072587/Sri-Lanka-government-to-train.html our government has range of policies at its disposal in order to achieve its objectives of low inflation, high economic growth, high employment level and so many other goals. Therefore there are policies such as fiscal policy, monetary policy, exchange rate policy, income policy and supply side policy which can affect the businesses in many ways. Fiscal policy Fiscal policy is the policy of central government to influence the economy of the country. Therefore fiscal policy will help our government to achieve its macro objectives. And there are two types of fiscal policy Expansionary and Contractionary fiscal policy. Our country government is trying to have full employment and also the spending of the government is high so that our standard of living will be high at the same time economy will grow. So we can say that our government is towards Expansionary since taxation had been reduced and the spending of government is high in recent years. (Appendix 1) Monitory policy Through monitory policy the government controls the supply of money, the availability of money, and rate of interest in order to attain a set of objectives oriented towards the growth and sustainability of the economy. One of the core objectives of our country is economic and price stability. For 2011 country have decided to reduce the tax and tax reduction are aimed at boosting economic growth as it increase consumption which will help increase revenue. Our country Sri Lanka is one of the largest tea exporters through which the country gains income. The income through this export will help the government allocate the budget in the monitory and fiscal policy. We can say there is no wide fluctuation in the general price level in the economy which is helping to achieve sustainable economic growth and also the price fluctuation at low rate would not have any major influence on our economic decision regarding what to produce and how to produce, therefore enabling efficient allocation of resources in the economic leading to economic stability. (Appendix 2) Market Structure The tea industry in the Sri Lanka market is having a monopolistic market since there are lots of tea businesses involved in selling and buying. Sri Lanka is having large number of relatively competing firms in tea industry. There are fewer barriers to entry, so that it is fairly easy for firms to set up and to leave these markets. Each firm is having different products and it is highly differentiated from others. In tea industry in Sri Lanka is not a monopoly market, as there are many firms and not only one business has total control over a market and is not only one seller in the market. Also we cant say it is perfect competition since there are lots of competitors in the Sri Lankan market. Our Government and tea board provides full support and help many people to start their business in tea industry since it is one of the main export of country in which country gains foreign currency and also the demand for tea product is inelastic and demand is increasing. Considering the world market, Sri Lanka has an oligopolistic competition due to the tea producers being of less number. The entry barriers for tea are high in the world market due to the lack of natural endowment in different countries. Tight competition exists among the tea producers in the world and this makes Sri Lanka have an oligopoly in tea globally. And the products are highly differentiated one product to another. Market force The demand for our tea in the world market has increased. According to the Minister of Plantation Industries says that there is a special demand for local tea in Russia. Our country exported the largest quantity of tea in 2010 and highest quantity had been exported to Russia. Also now there are high demands for tea in the world market. So the country should get ready to produce sufficient tea to meet this demand. The main aim of our country is to become the worlds leading supplier of tea. http://www.itnnews.lk/?p=22477 Products Bulk Tea Packeted Tea Tea Bags Green Tea Instant Tea Other Tea -Silver Tips Tea Golden Tips Tea Sri Lankan praised as the best tea in the world. Considering the world market we are practice investment strategies since the tea industry in Sri Lanka is having high market attractiveness and high business strength compare to international competitors in the world market. Therefore the country was practicing differentiation strategies. Also the tea products of Sri Lanka are having high differentiation. More over most of the tea products in our country are in the star stage of BCG matrix. Therefore the industry is towards product development as it will increase core competitiveness and high competitive advantages of the business in the international market and also increase the foreign currency inflow as well. International trade International trade is very important for or country as it helps in many ways for country to overcome from different problems. Our country is not self-sufficient and international trade helps our county to import the resources or goods needed. Also helps to export the products to other country which is bringing foreign currency to the country. International trade has contributed immensely development of our nation. International trade has been a platform for globalization also it reduces inequalities and facilitated growth in economy of our country. International trade is helping the country to introduce global competitiveness as most of the domestic business units have a tendency to become very efficient being exposed international competition. Also the businesses can easily access to technological innovation and will be able to utilize the latest technology to boost their productivity. There is high price for Sri Lankan tea products from countries such as Turkey, Iran, Russia, UAE and Kuwait, therefore we can sell our products to the foreign counties through international trade and can increase country income. Also we can import the products which our country is in need through international trade. Benefits of economic integrations Economic integration helps to reduce or deduct customs duty within the integrated area, so it helps to reduce the prices for both distributor and the customers. Through this our country can increase profit by increasing demand as we can acquire goods and services at much low cost due to removal of trade barriers and tariffs completely. It also helps to have freedom and helps to have market expansion and more foreign investment into the country and great diffusion of technology. It also will increase the employment opportunities in the country as well. Our country integration with World Trading Organization helps to reduce customs duty or trade barriers and tariffs with in the integrated area. There are 153 countries in the World Trading Organization (WTO) and have general agreement on tariffs and trade. Our country Sri Lanka is one the country in WTO. And the rules of this integration covers trade in all goods and helps international trade flow as smoothly and freely as possible and reduce risk in doing oversea businesses. So our country can export products with low price since our country is part of WTO and through integration the trade barriers around the world are lower than they have been before. So the cost of product can be reduced and we can sell our products much more less price. And also imported products we can get at low price. Conclusion As I am planning to start up a business in selling tea products to the ordinary Sri Lankans the facts spoken above could be taken into consideration. As our county tea products are high quality and tastiest tea products due to the natural endowments or the climate and whether of the country allows the tea firms to harvest the best quality tea products. Also the demands for tea products are rapidly increasing, and due to increase in demand a high supply could be generated through starting a tea business. Moreover countries economy is rapidly growing and lot of development projects are been done. Government also trying to reduce tax and the spending of government on infrastructure is increasing which shows the macroeconomic aims are to have economic growth, full employment, and also high living standard with the control of the balance of payment situation. In 2010 the government pledged loan facilities for agricultural development and is designed to the benefit of Tea small holders, small producers, women, landless householders and young people in rural area. These facts and natural endowments and government support therefore it initiated me to start a tea business in Sri Lanka. Our business vision To be the leader in tea industry in Sri Lanka, and also spreading our presence in all key economic geographies in Sri Lanka To be the best quality tea product producer to the nation and the most efficient and affordable price provider in tea product. Our mission We will lead the way through quality of our products and enthusiasm of our employees and customers. We will serve all our communities to the best of our ability, try always to listen to their needs and so build total customer confidence and satisfaction. Key objectives Get profit $ 20000 within 1 year through introducing a new product and increasing sales and also through cost cuts and providing with affordable price to customers Increase customer perspective 10% or brand name 10% through increasing brand awareness, through promotions and value added services within 2 years. Stakeholders of the business Customers Customers are one of the key stakeholders of the business as they are vital to the survival of the business. We will try to provide excellent services to its customers while selling the product and has excellent relationship through respects, friendly services and so on. Investors We will try to give maximum benefits to investors and also have good relationship with them. Through website or through other communication method we will provide information about the business performance. Employees Employees are the other key stake holders of the business. We will provide training programs to employees to familiarize them companys policy and working practice. Also will provide many packages and development opportunity to its employees. Government Government can influence and affect business in number of ways. We have to follow the rule and regulation that is made by the government. Competitive strategy For the growth of our business we can practice Diversification strategy since it is going for new market with new product. Even though this involves high risk, because the market is new in which the business has no experience and also it will take a business outside its area of expertise. Also we can practice cost leadership as here our business can tries to reduce the price or attempt to produce goods or service at lower cost than the competitors in the market. This is to charge lower prices than the rivals and to compete in price wars that may take place. This strategy high light passing on the cost advantages to the customer through cutting down cost in every junction of the value chain or emphasizing on economies of scale in order to give customer cost benefits. Implementation

Overtraining, and Burnout in Child and Adolescent Athletes. Pediatrics Essay

Exercise and sports behavior has been an area of vigorous research interest. Athletes and people who compete at a high level of physical exercise are usually habituated to intense levels of activity for over a prolonged period of time. However, there is hesitation to term it as a psychological disorder or a disorder associated with characteristic patterns of psychological disturbance. People with very high levels of athletic activities may be high achievers who participated in these activities with intense physical work due to many reasons, but the most important is their sense of achievement. Many of them feel that these activities contributed to their psychological well-being and their emotional stability. A closer examination of their exercise patterns happened to be adaptive and hence has been contemplated to be contributing to the overall psychological functioning. Investigation into their lifestyles revealed that those revolved about their athletic or physical exercise activities, and many of them had disciplined, inflexible, and well-ordered routine. To be able to maintain such routines, these individuals rigidly followed a regimented running programme and often subordinated other aspects of their life such as diet, occupation, and socializing to their running. The question remains, whether this obligatory pattern of excessive exercise and physical activity have any detrimental effects on these people with high athletic activity. In this assignment, current research will be reviewed to find out the answer of this question. Overtraining or burnout is commonly regarded as a generalised stress response to a prolonged period of overload. Thus, overtraining can be defined as â€Å"an abnormal extension of the training process culminating in a state of staleness† (Weinberg and Gould, 1999). Many other terms have been used to denote this syndrome. These include staleness, burnout and failing adaptation (Hooper et al. , 1993). Tenenbaum et al. (2003) recently suggested as theoretical model of this condition (Tenenbaum et al. , 2003). Generally speaking, overtraining can be attributed to a combination of high-intensity training at excessive levels and provision of inadequate rest or insufficient time for recovery. There have been arguments as to whether a single, universally agreeable diagnostic index of burnout is possible, case studies have revealed a host of physiological and psychological symptoms. Physiologically overtraining may manifest signs of depressed immune function leading to an increased incidence of upper respiratory tract infections. The physiology alters so that there are increases in resting heart rate. Endocrinologically, there may be decreases in testosterone levels and increases in cortisol concentration. In some individuals, there may be decreases in maximal blood lactate concentration, which is otherwise expected to be high. All these may culminate into deterioration in athletic performance of the affected person, but there may be psychological symptoms which may include include mood disturbances, feelings of chronic fatigue, loss of appetite, repetitive loading injuries, and quite often insomnia (Cashmore, 2002). The prevalence of this syndrome can be estimated from Morgan (2000) that over 50% of both male and female marathon runners have at least sometimes suffered from burnout in some time. As a paradox, burned out athletes tend to try harder and perform increasingly worse. There are many factors associated with this phenomenon. Literature has revealed that these factors may include â€Å"inadequate recovery time between bouts of training, prolonged or over-intense training regimes, personal problems and inadequate coping resources† (Weinberg and Gould, 1999). Morgan (2000) also claimed that mood disturbance in these individuals may be etiologically related to burnout, although there have been disputes against this claim. In general, it has been shown that people who exercise vigorously tend to suffer from symptoms of mood changes, irritability, restlessness, insomnia, lack of appetite, or feelings of guilt. Bill Norris, the principal trainer on the American Tennis Professionals’ tennis tour, observed recently that problems of injury and burnout stem from a combination of the â€Å"never-ending pursuit of achievement and the inability of coaches to understand that the human body can only take so much for so long† (cited in Evans, 2002, p. 24). Consequently excessive stress is an important initiating event for psychological, emotional, and physical withdrawal from a formerly enjoyable sport. As Gould et al. (2002) concurs exercise or sport burnout can be defined as the â€Å"manifestation or consequence of the situational, cognitive, behavioural, and physiologic components of excessive stress† (Gould et al. 2002). This phenomenon has been embodied most strikingly in teenage sports performers or athletes, who have spectacular and sudden rise with similarly abrupt and premature decline. Many young tennis prodigies can be used as examples to illustrate this phenomenon, and even some of them despite being prolific achievers could not go to the extent that they would have. Moreover, some of them fell prey of recurring back or neck problems or other chronic injuries. History suggests that a combination of parental pressure and coaching tyranny was operational in leading to halt of many promising careers in sporting (Gould et al. 2002). There had been attempts to explain the phenomenon of sports burnout through different theoretical framework. The progression of burnout has been presumed to be due to pressure of training and development of competitive approaches. This demand is interpreted by the athletes’ psyche in a different manner, and some indeed end up seeing it as a threatening situation. If the demand is perceived to be threatening, the youth usually demonstrates physiological responses, which are characterised by fatigue or insomnia. In the next state, these physiological responses lead to strategies for coping, which in turn may manifest as diminishing levels of competitive performance. This may lead to interpersonal problems of the affected individuals and failure of coping may lead to complete withdrawal from sport or any other athletic activity. It has been argued that it is difficult to generalize since to cause this, many subjective factors, such as, self-esteem, ambition, and personal anxiety may play important roles. Lonsdale et al. (2009) had examined the potential factors contributing to the psychological impacts of sports burnout. They used self-determination theory by employing a cross-sectional design with the primary aim to investigate the behavioral regulations and athlete burnout. It has been shown that less self-determined motives showing positive associations and more self-determined motives showing negative correlations with burnout. Competence, autonomy, self-determined motivation, exhaustion, devaluation, reduced accomplishment, and global burnout play important roles in exercise and sports burnout (Lonsdale et al. , 2009). This means, personality and factors related to motivation influence the different stages of burnout process. Some authors have identified training stress as the determinant of the burnout process. This is a physical characteristic of the burnout process. This occurs due to the fact the body cannot tolerate the physical strain anymore. As an additive, competition also plays important roles. Although in some cases, some of the young people are grown up enough to cope up with the stressors associated with higher level of competition, in many cases, the young competitors experience a psychophysiological malfunction once their bodies fail to respond positively to training. This would affect their mental orientation leading to incapability of meeting the demands placed on their bodies. Brenner et al. (2007) describes burnout syndrome as a series of psychological, physiologic, and hormonal changes that may result in decreased sports performance. The common manifestations have been described as chronic muscle and joint pain, changes in the personality, resting tachycardia, and decreased performance in sports. This is commonly associated with fatigue manifested by lack of enthusiasm about practice or competition. The athlete may also encounter immense difficulty in completing the normal routines of an athlete. Burnout in sports has been recognised as a serious sequel of the syndrome of overtraining. Although this is a serious problem, it can be prevented. Usually, the athletes are encouraged to participate and practice different kinds of sports rather than one particular type of activity. Sometimes these may be prevented though various training adjustment approaches. It has been seen that steps to keep workouts interesting with age-appropriate games and training may prevent it. There should be time off from structured or organised sports at least 1 to 2 days per week, to allow the body and mind to rest. This time may be utilised in other activities. The trainer must allow longer scheduled breaks from training and competition every 2 to 3 months, but during this time, he must focus on other activities involved with cross training so his loss of skill and level of conditioning does not deteriorate (Brenner et al. , 2007). Conclusion The detrimental effects of high level exercise are numerous. There is risk of over-use injury, potential for excessive weight loss, mood disturbance, psychological burnout, eating disorders, depression, and low level of psychological wellbeing. Recently, there has been a growth of research interest in the areas of personal problems. These include stress and burnout afflicting people involved in sport and exercise. Research also suggests that not infrequently exercise habit can have adverse consequences. For certain vulnerable population practicing athletics, sports, and physical activities, exercise is associated with specific psychopathologies. Furthermore, a variety of physiological hazards to health have been demonstrated to be associated with habitual physical activity and/or sport. These include metabolic abnormalities, such as, hypothermia in swimmers or dehydration in marathon runners; disorders of hemapoeisis, such as, anemia in endurance athletes and cardiac problems, such as, arrhythmia. All these may result from prolonged vigorous athletic activity. On the contrary, it has long been known that intensive training regimens do not always enhance athletic performance. More precisely, when the nature, intensity and/or frequency of athletic training exceed the body’s adaptive capacity and lead to a deterioration in sport performance, then the condition is known as burnout or overtraining. Modern research has suggested many changes. Reference List Brenner, JS. and the Council on Sports Medicine and Fitness Overuse Injuries (2007). Overtraining, and Burnout in Child and Adolescent Athletes. Pediatrics; 119: 1242 1245. Cashmore, E. (2002). Sport psychology: The key concepts. London: Routledge Evans, R. (2002). â€Å"Breaking point†. The Sunday Times, 19 May, p. 24 (Sport). Gould, D. , Damarjian, N. , and Greenleaf, C. (2002). Imagery training for peak performance. In J. L. Van Raalte and B. W. Brewer (Eds. ), Exploring sport and exercise psychology (2nd ed. , pp. 49–74). Washington, DC: American Psychological Association. Hooper, S. L, Traeger Mackinnon, L, Gordon, R. D. , and Bachmann, A W. (1993). Hormonal responses of elite swimmers to overtraining. Medicine and Science in Sports and Exercise, 25, 741–747. Lonsdale, C. , Hodge, K. , and Rose, E. , (2009). Athlete burnout in elite sport: A self determination perspective. J Sports Sci; 27(8): 785-95. Morgan, W. P. (2000). Psychological factors associated with distance running and the marathon. In D. T. Pedloe (Ed. ), Marathon medicine (pp. 293–310). London: The Royal Society of Medicine Press. Tenenbaum, G. , Jones, C. M. , K

Lil Wayne vs Drake Essay

Music is something that everyone loves and some people go to music to calm themselves down when their stressed, angry, sad, or happy just in general. Personally, I listen to a lot of music, so I’m choosing Lil Wayne vs. Drake. Lil Wayne thinks of himself as the â€Å"Best rapper alive†; & yet he is known to be one of the best rappers according to magazines, record sales, and etc. Lil Wayne is also in charge of Young Money Entertainment which is an American record label founded by rapper Lil Wayne. Drake is also rising to the top very quickly, but Drake is a part of Young Money Entertainment also. They both are featured in each other’s song and a lot of people love them rapping together. They both rap about similar things such as, fame, drugs, money, cars, and women; however even though they rap about similar things. They have completely different ways of saying it. Wayne is more outspoken I’d say and he is more straight forward with whatever message he’s trying to prove to you. Drake makes you think a little more about whatever message he’s trying to deliver. I actually like how drake phrases some of the things he says. Wayne focuses on his analogies more I believe when he raps, verses drake focuses on more just getting the message out. Wayne uses his imagination when he raps, but drake actually paints the picture. I’d say that Drake has 2 sides to him; he has the rap side and he has the singing side. Drake is known for connecting with women through his songs, words, his real life problems, and his voice that almost every girl loves. Drake is more open when he raps and he explains to you how girls have broke his heart, how he’s had people doubt him in life and his music career, and he isn’t afraid to admit that sometimes life hurts. He makes you feel like he too has been in the same situation like he’s actually felt pain like normal people without millions of dollars do. Lil Wayne will talk about something seriously hearting him in maybe about 3 or 4 songs, but other than that Wayne gives you the image that everything in his world is perfect. He makes you want to feel what it’s like to have millions of dollars, and cars, clothes, women and etc. , but in reality it’s not really like that for the average person. That’s why more people feel like they can relate more to Drake, because he talks about real life situations and pain in a lot of his songs. Both, Drake and Wayne have been nominated for plenty of different awards on the different shows, and they have also won quite a few of those nominations, especially Lil Wayne. Wayne helped Drake get to the where he was at, he showed him a way and now Drake is so popular he probably would be okay on his own; but they all work together as a team, that’s why they’re all apart of Young Money Entertainment. In conclusion, we could keep comparing and contrasting both Drake and Lil Wayne all day, but in the end all that matters is that they both make great music, and they are both listened to and enjoyed by millions and millions of people. There so much alike in the end to where it would balance out anyways. They are a great team together and they are both very successful. However if I had to chose which one I preferred to listen to more, I think I’d have to chose Lil Wayne, â€Å"The best rapper alive†.

I Am A Master Of Writing Essay - 1663 Words

Writing in Engineering When most people think of engineers, they think about people who are extremely skilled in mathematics and in the sciences. They might think about an engineer sketching a design into their notebook. No one ever thinks about how much an engineer has to write. Without writing, engineers would not be able to spread their ideas to one another in an effective manner. In order to be a good engineer, you obviously have to be a master of your mathematics and sciences, but you must also be a master of writing. Through an investigation into the world of writing in the engineering field, multiple signs became apparent. To confirm these findings, two interviews were conducted. The first interview was conducted with Thomas Casavant, a professor here at the University of Iowa. The second interview was conducted with Michael Schnieders, an assistant professor also here at the university. Their personal insights into the world of engineering provided an ample amount of information over the academic and non-academic writings an engineer must partake in. The information, gathered from the interviews and research, painted a clearer picture of the types of writings an engineer should expect to see. Overall, most engineering writings are very objective. The main purpose of most engineering writing is to spread information to others, whether they are other engineers or if they are the general public. Their writing style is ingrained with this idea in mind. WritingsShow MoreRelatedStopping By Woods On A Snowy Evening By Robert Frost Essay1256 Words   |  6 PagesForms of poetry are equal in difficulty; humankind might consider a sonnet difficult, in contrast others find it to be elementary. A poem I admire is called â€Å"stopping by woods on a snowy evening† by Robert Frost. (Frost, R. 1922). Marveling at the simplicity of this poem, no wonder it’s considered a masterpiece! 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