China as a Member of the TRIPs Agreement: on the Path of Implementation Essay

The multilateral trading system in the world has been governed by the General Agreement on Tariffs and Trade (GATT) for more than 50 years . The GATT was commenced in 1947 . Its implementation became a powerful spur to advancement of world market due to promotion of free trade which contributes greatly to world economic growth and sustainable development. The World Trade Organization (WTO) became the successor of the GATT being established by the Uruguay Round – the last trade round launched more than fifteen years ago. It was â€Å"the most ambitious thus far, and some of its agreements are still being implemented†. Tariffs reduction had encompassed much more world economy sectors than during the previous rounds. The documents adopted by the Uruguay Round established that quantitative restrictions would be actually eliminated by 2005. The round has developed regulations of the international trade applying to areas being earlier outside of the adequate control or coped by week rules. Especially it concerns the trade–related intellectual property rights (TRIPs). In the course of the Uruguay round developing countries played a more active role than in previous rounds and adopted the same WTO agreements as other members â€Å"as part of the round’s single undertaking – nothing is agreed until everything is agreed†. To date the WTO Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPs Agreement) seems to be the most universal international covenant on intellectual property rights (IPRs) regulation. It was â€Å"an integral part of the Agreement establishing the WTO, comprising Annexe 1C to that Agreement† and replenished the basic World Intellectual Property Organization (WIPO) Conventions with essential liabilities in the framework of WTO subjects . This agreement implemented new rules presupposing both advantages and expenses for the participants of international markets. Its implementation undoubtedly constitutes a task far from being easy, especially for less developed countries. The TRIPs Agreement imposes certain obligations upon the latter to adopt legislation that protects patents for inventions. As one of the multilateral trade agreements, it is binding on all members and hence also a condition of membership for countries which have not yet joined the WTO. Such a condition is a significant one for countries seeking to join the WTO such as the People’s Republic of China. Here we will explore this country’s involvement into the process of adjusting its laws to conform to TRIPs, especially in the field of patents’ protection, evaluate its successes and faults on this path, consider the impact of those changes and make the conclusions concerning possible ways of acceleration and optimization of implementation process. The Obligations of the TRIPs Agreement Members The TRIPs Agreement came into effect in 1995. It entailed standards â€Å"concerning the availability, scope and use† of IPRs in all categories of intellectual property, namely copyright and related rights, trademarks, geographical indications, industrial designs, patents, layout-designs of integrated circuits, protection of undisclosed information . Article 27 (Part II Section 5) of the TRIPs deals with patentable subject matter, stating the spheres of patents’ availability in member countries (hereinafter referred to as a member): Patents shall be available for any inventions, whether products or processes, in all fields of technology, provided that they are new, involve an inventive step and are capable of industrial application. [†¦] Patents shall be available and patent rights enjoyable without discrimination as to the place of invention, the field of technology and whether products are imported or locally produced. The next article determines the exclusive rights which should be granted upon the patents issued in a member. It imposes on the member the obligation to forestall third parties from using neither the patented product nor the patented process anyhow without its owner’s permission. For his turn, the owner has the right to assign or transfer the patent. What is an important aspect for the developing countries, the member has to inquire the patent applicant about the information as to the applicant’s corresponding foreign applications and grants to prevent patents duplication. Exemption from such obligation in regards to cross–border use cover only very specified cases as for example those of â€Å"a national emergency or other circumstances of extreme urgency or [†¦] of public non-commercial use† (Article 31 (b)) subject to prompt informing of the right holder. The competent authority of the member should have power to consider applying such exemption to certain cases and possible duration of the above mentioned circumstances. Officially permitted legitimacy of any decision relating to the permission of such use should be subject to judicial review or other independent review by the competent authority of the member. In cases when the permission to utilize the patent is obtained, the member is to provide the following prerequisites: (i) the invention claimed in the second patent shall involve an important technical advance of considerable economic significance in relation to the invention claimed in the first patent; (ii) the owner of the first patent shall be entitled to a cross-license on reasonable terms to use the invention claimed in the second patent; and (iii) the use authorized in respect of the first patent shall be non-assignable except with the assignment of the second patent (Article 31 (l)). Upon Article 32 the member has the obligation to make available the opportunity for legal review of any decision made on recalling or forfeiting the patent. In the TRIPS agreement there is a very accurate definition of duration of the patent’s protection – twenty years from the date of registration (Article 33).   In the cases of infringement of the patent owner’s rights as regards to patents for processes leading to generation of the product the agreement calls for the members to empower the corresponding legal authority to require the proved information about the difference between such process and those for manufacturing the identical product (Article 34). For the realization of the above concerned obligations the TRIPS agreement anticipates specified enforcement procedures which should be available in the members to strive against infringements of IPRs. Those include â€Å"expeditious remedies to prevent infringements and remedies which constitute a deterrent to further infringements† which are to be applied by means excluding â€Å"the creation of barriers to legitimate trade and to provide for safeguards against their abuse (Article 41.1)†. The Developing Countries Advantages upon the TRIPs Agreement The main motives behind the move of the governments of many nations, and in particular, of developing countries, to enter the TRIPs Agreement had been, firstly, the fact of steady raising in developing countries’ exports of industrial goods into markets where earlier only developed countries were present which, in turn, made the latter to â€Å"rely more heavily on their comparative advantage in the production of intellectual property†; and, secondly, rather high expenditures involved by high–tech companies in different countries for research, innovation and development of know–how spurred them to try to find â€Å"international protection of intellectual property rights†. In general, the WTO agreements apply several instruments to make available some advantages to developing countries. Among them there are distinguishing of their interests without imposing any officially authorized obligations upon them; reducing their liabilities on some agreements in comparison with those of developed countries (which let them to protect their domestic markets more effectively). Some of the WTO agreements permit them longer implementation periods for certain obligations. In many WTO disciplines there are agreements encompassing provisions for technical assistance from developed countries to developing countries. All those are aimed at facilitation of transitional processes in the latter and giving them a chance to overtake the former. Like other parts of the WTO agreement, the TRIPs agreement grants the substantial preference to developing countries – they had four years for implementation of the agreement provisions (until the beginning of 2000), moreover this term became subject to prolongation to ten years (until 1 January 2005) for technology sectors where no previous IP protection accorded. The preferences for developing countries look adequate enough, and it is obvious that developing countries would derive benefit from implementation of efficient IPRs protection stipulated by the TRIPs agreement. Obtaining higher levels of intellectual property protection should lead to larger innovation globally from which all gain. It will stimulate attraction of more foreign direct investment (FDI) and technology transfer in view of increasing foreigners’ confidence in the products made in developing countries. But the process of implementation is costly too. The necessary costs of course vary depending on the member’s phase of development as well as its industry and technology basis. Where much innovation is informal, there are potential problems of access to, and affordability of, patent applications. Patent systems may be disproportionately expensive to set up and maintain. China’s Involvement into the TRIPs Agreement China is a unique country. It combines the features of both developed and developing countries. Evan Medeiros and Taylor Fravel emphasize that in this country evidence of the change abounds. They affirm â€Å"Chinese foreign policy has become [in the last ten years] far more nimble and engaging than at any time in history of the People’s Republic†. As for other developing countries the main concerns for China were limited coverage for products and processes, short terms of patents protection, wide scope for obligatory licensing, and inefficient enforcement in the cases of IPRs infringements. But last decades this country has been made giant steps to the progress. Few nations have changed as fast – or as dramatically – as China has since the 1970s. The world’s most populous nation has radically liberalized its economy and gone from producing low–quality and simple exports to sophisticated high–technology goods, while nurturing a vibrant private sector and attracting nearly $500 billion in foreign direct investment. After the death of Mao, Deng Xiaoping came to power in the People’s Republic of China. Since that time fundamental changes launched in the country – an â€Å"open door† policy was proclaimed re-opening Chinese markets and allowing citizens to own limited private property. Further rush development was unbelievable. In 1979 China entered into the Agreement on Trade Relations with the USA which required both parties to provide each other’s nationals with a corresponding level of IPRs. In accordance with this agreement the country became a member of the WIPO in 1980 and acceded to the Paris Convention for the Protection of Industrial Property in 1984. China also enacted a Trademark Law in 1982 and a Patent Law in 1984. Upon these regulations China provided authors and inventors with limited IPRs protection. As a final accord of this movement in 1995 China entered into the TRIPs Agreement with the USA. People’s Republic has committed itself, pursuant to this agreement, to raising the standards of intellectual property protection by means of implementation of enforcement measures and development of legal enforcement structure. The agreement envisaged expansion of US goods access to Chinese market and vice versa as well as certain changes in the IPRs protection legislation of China aimed to make it more transparent . Furthermore the country has patterned its IPR laws on international treaties: the Berne Convention and the World Trade Organization’s 1995 TRIPs Agreement. China acceded to the WTO on 11 December 2001. In order to ensure its accession to this organization, China preliminary ratified international intellectual property treaties and conventions and amended its laws. The Course of Implementation Despite of objective difficulties in implementation of IPRs legislation in China, the government succeeded greatly in the struggle against infringements of IPRs. Many laws adopted in 1980–1990s reinforced the system of these rights protection in all the categories: copyright, patent, trade secrets and trademark. For instance, as regards to patents protection, in 1993 China â€Å"extended coverage from fifteen to twenty years and also created the China Patent Management System (CPMS), a computerized system designed to handle patent applications more efficiently†. Besides China expanded patent envelopment to pharmaceutical industry that was excluded before. For instance, in 1997 CPMS â€Å"accepted 114,208 patent applications, including 24,137 from foreigners† . For many years before China became a WTO member, the state authority bodies such as police force and legal agencies had been vigorously striving against IPRs infringements especially piracy .   Beginning at 1982 China adopted many laws covering the field of IPRs protection, â€Å"such as the Trademark Law, Patent Law, Technology Contract Law, Copyright Law, Anti-Unfair Competition Law, and Regulations on Protection for Computer Software† . Notwithstanding the fact that China lacks long tradition for respect and protection of intellectual property , the progress of the country is doubtless. The Chinese government has recognized that to encourage technology transfer, there must be protection for technology. Such attitude resulted in adopting series of documents dealing with IPRs issues. Also the great importance of these issues led to the necessity to have qualified staff in patent law. Thus, now several of China’s top universities, including Tsinghua University in Beijing, have patent departments. Among the regulations adopted and amended last years there were documents regarding patents and licensing. On 28 December 2002, the State Council of China issued the Decree No. 368, modifying Article 101 and 108 of the Implementing Rules of the Patent Law of the People’s Republic of China. Modifications only involved new provisions concerning the implementation of the patent cooperation treaty, i.e. that the time-limit for international applications entering into the phase for individual country consideration should be unified as 30 months upon the priority date. On 13 June 2003, the State Intellectual Property Office of the People’s Republic of China (SIPO) issued the Methods of Compulsory Licensing for the Implementation of Patents, which came into effect on 15 July 2003. Patent Law of China was adopted much earlier – at the 4th Session of the Standing Committee of the Sixth National People’s Congress on March 12, 1984, and further amended by the Decision Regarding the Revision of the Patent Law of China, adopted at the 27th Session of the Standing Committee on September 4, 1992. Recently the Patent Law was revised in August 2003. The Implementing Rules of the Patent Law of the People’s Republic of China has been revised in June 2001 and December 2002. Such revisions have brought these laws and regulations into full conformity with the TRIPS Agreement. Wang Jingchuan, Commissioner of the SIPO, in his message said:   The creation, occupation and utilization of knowledge and intelligence resources, and quantity and quality in possession of intellectual property have become the key elements to the economic development of a country and the important foundation for countries’ participation into the competition of economic globalization and be in harmony of the world economy system. He stated that the IPRs system in China has been established and further improved last years. But much work has to be done in this field. He emphasized especially the importance of ensuring protection to interests of foreign patent applicants. In general, the main targets for the national patent work were defined by ‘Tenth Five–year Plan’. It anticipates further perfection of patent laws and regulations and patent protection scheme, further adaptation of patent procedure and maintenance system to the growth of international economy and socialist market economy, creation of environment favorable for patent protected goods and inventions as well as for technology innovation, raising the level of patent professionals’ skills and knowledge, upgrading of the patent protection level in enterprises and institutions, involvement of patented technologies to contribute to the economic growth, continuous increase of the number and quality of patent applications, updating of the patent information, acceleration and enhancement of the patent examination and granting. For achieving these targets it’s planned to facilitate the utilization of patent information resource, create and acquire more patent rights with authorization, create products and businesses with self-dependent intellectual property; pay much attention to patent work by SMEs while encouraging also corporations and business groups to acquire and transfer know–how. The task to speed up the industrialization of patent technology seems to be one of the most costly. For the purpose to enhance the patent work system the Plan anticipates supporting patent intermediate service agencies, implementing efficient examination and granting system and qualifying system for patent assets evaluation agencies and patent consultation service institutions etc. To create effective patent system China poses an assignment to complete the revision of rules and regulations including those for the implementation of the Chinese Patent Law and then make efforts to implement the revised patent law. Practical measures to facilitate patent examination include the increase of the number of the patent examiners, organization of supporting examiners group, intensification of professional training, and extension of the examiner’s inspection spheres, full involvement of information technology into patent procedures, strengthening of the examination of patent agencies and training of patent agents. The Plan stipulates reinforcement of the role of information systems and patent information resources in patent proceedings. For this purpose it’s scheduled to provide well-organized computer search system, examination supporting system, flow management system, e-filing system and e-publication system for the patent examination and granting work, realizing the paperless, electronic and network system of patent application, publication and examination procedures; to create China patent full text coded database using resources both from the country itself and abroad . Finally, the Plan anticipates reinforcement of the research on strategy, tactics and policy by means of establishment of intellectual property development research institutions, development of in-depth research on major patent issues, strengthening of the research on the patent protection of new technologies, such as computer software, nano–technology, gene engineering, biomedicine, biochips, biology engineering etc. Here also the importance of patent statistics analysis and prediction work is emphasizes . It is obvious that the government concentrates its efforts â€Å"on the implementation and enforcement of IPRs protection laws despite the difficulties faced by the Chinese authorities in a demographic, historical and cultural sense†. Now the reform and enforcement of law in the concerned field are more and more progressing. Groombridge ascertains that amplification of IPRs protection in China is for the most part the outcome of â€Å"indigenous social, economic, and political factors at work† in the country. He argues the pressure of â€Å"economic sanctions, such as those embodied in the trade laws of the United States† had no wholesome influence, and China has strived for more effective arrangements of IPRs due to â€Å"the changing perception of self-interest held by its Communist Party leaders and its citizenry† . In the course to fulfill the provisions of the TRIPs Agreement China has rebuilt its structure of legislative bodies responsible for regulation in the field of IPRs protection. The country set up a number of corresponding regulatory agencies: â€Å"the State Press and Publication Administration, the National Copyright Administration, the China Patent Office, and the State Administration of Industry and Commerce, in which the Trademark Office is located†. Also in 1998 the State Intellectual Property Office (SIPO) was established – the structure affiliated and directly subordinated to the State Council . A mission of all these bodies is to strengthen historically weak Chinese infrastructure of regulation, control and maintenance in IPRs compliance. Implementation of the TRIPs Agreement by the People’s Republic of China promises to become again the topic to analysis by the international community in 2008 in connection with the next Olympic Games which will be held in Beijing. Liu forecasts that owing to vast distribution of Olympic goods, audio– and video products â€Å"owners of IPRs will be seeking to protect their works from illegal reproduction and distribution by infringers†. He expresses belief that if the efforts undertaken by China â€Å"to reform and enforce its intellectual property laws [†¦] [will be] successful†, it would attract foreign investors to the country and promote know–how distribution here, which consequently should assist to go ahead to further economic development on the path to take leading positions in the world markets . Conclusions Experts note that having bolstered market power, TRIPs proves very weak especially on international regulation of the restrictive practices of the transnational corporations. It is true to say that the costs and benefits of IPRs are not so neatly distributed today. All the same, if the WTO is asking all countries to provide protection, it may still have to give something more in return. No doubt, China will increasingly regard itself as a great power and expect more defenses from other countries. In a speech two years ago President of the USA George Bush assured of his sympathy to the countries â€Å"that believe in the power of economic engagement to help solve the problems ranging from human rights to security matters†. China for sure is one of such countries demonstrating its aspiration for integration into the global economy . Nowadays we are witnessing the economic boom in this developing country. It is deserved outcome by the People’s Republic of China, as on its way to progress, in contrast to almost every other developing country, China has managed to eliminate the worst forms of social misery, and while denying the spirit, it displays spiritual values: in that underlies the paradox of Mao’s China. Having entered into the TRIPs agreement China pushed its trade policies behind the borders of the country, opened up its markets, and although experiencing certain difficulties in this agreement implementation, stays on the path of development. There is no doubt this immense country will proceed along this path successfully. There are no two ways about it. Bibliography â€Å"Agreement on Trade-Related Aspects of Intellectual Property Rights†. The World Trade Organization. 1 October 2004. http://www.wto.org/english/docs_e/legal_e/27-trips.doc Arup, Christopher. The New World Trade Organization Agreements: Globalizing Law through Services and Intellectual Property. Cambridge etc.: Cambridge University Press, 2000. â€Å"China and the WTO†. The World Trade Organization. 3 October 2004. http://www.wto.int/english/thewto_e/countries_e/china_e.htm Groombridge, Mark. â€Å"The Political Economy of Intellectual Property Rights Protection in the People’s Republic of China†. In Intellectual Property Rights in Emerging Markets, edited by Clarisa Long. Washington: American Enterprise Institute, 2000. 11–46. Hale, David, and Hale, Lyric. â€Å"China Takes Off†. Foreign Affairs Magazine 82.6 (November–December 2003): 36–53. Irwin, Douglas. â€Å"The GATT in Historical Perspective†. American Economic Review 85.2 (1995): 323–28. Jingchuan, Wang. â€Å"Commissioner’s Message†. State Intellectual Property Office of the People’s Republic of China Web Site. 28 April 2002. 3 October 2004. http://www.sipo.gov.cn/ sipo_English/gysipo_e/jzzc/t20020428_33891.htm Liu, Vincent. â€Å"Copyright and Software Protection: Is It Working in China?†, The Computers and Law Journal 51 (March 2003). 2 October 2004. http://www.nswscl.org.au/ journal/51/Vincent_Liu.html â€Å"Main Targets and Tasks of the ‘Tenth Five-year Plan’ for National Patent Work†. State Intellectual Property Office of the People’s Republic of China Web Site. 3 October 2004.http://www.sipo.gov.cn/SIPO/English2004/gysipo_e/fzgh/t20020430_33893.htm McGuirk, Anne. â€Å"The Doha Development Agenda†. Finance and Development Magazine 39 (September 2002): 5–9. Medeiros, Evan, and Fravel, Taylor, â€Å"China’s New Diplomacy†. 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Marketing and Online Social Networks

INTRODUCTION Situation Synopsis: Competitors have developed different approaches to attract consumers in the online dating market; some of which have been copying eHarmony’s product features and using alternative strategies to attract singles. Company’s Current Strategy: eHarmony uses a focused differentiation strategy. It focuses on singles seeking a serious relationship and long-term compatibility. It distinguished itself from other sites by using a unique matching algorithm. They have also invested substantial resources into marketing and R&D. Problem Statement: eHarmony has opened the door to their competition by declining potential customers as a way to ensure quality control. eHarmony's CEO must decide how to react to imitations of its business model, encroachment by competing models and the rise of free alternatives. ANALYSIS 1. EXTERNAL ANALYSIS 1. General External Environment Demographic: †¢ Age 40 and 50 year olds becoming the fastest growing segment †¢ Age structure: 60% of eHarmony users were women †¢ Members reflect the geographic distribution of the US quite well Legal †¢ Lawsuits for discrimination, etc. †¢ Privacy settings Socio-Cultural: †¢ Average age to get married is increasing †¢ The marriage rate had reached its lowest point in recorded history †¢ Cultural changes and economic factors had a substantial effect on the marriage market †¢ Fluctuating divorce rates †¢ One-fifth of marriages were initiated through online encounters Technological: †¢ Increasingly sophisticated communication and recording technology †¢ R: relationship dynamics, physical attraction, and couples †¢ Must obtain patents for matching systems Global: †¢ Competitors have expanded globally 2. Industry Situation Analysis 1. 2. 1 Industry Structure The online personals industry can be segmented into 4 different categories where the 3 main players; eHarmony, Match, and Yahoo! Personals are represented by the Paid Do-it-yourself category: †¢ Paid Do-it-yourself Sites †¢ Free Do-It-Yourself Sites †¢ Niche Sites †¢ Online Social Networks 1. 2. 2 Industry Direction and Trends Competition is steadily increasing. Many companies within this industry try to develop new approaches in an attempt to divert customers away from market leaders such as eHarmony. Some either put up few barriers to join or allow people to join for free. The industry is expected to rise and perhaps double by 2012. Trends that may be important for this industries future include the following: †¢ Subscribers to these sites tend to be repeat users †¢ 40 to 50 year olds are the fastest growing segment †¢ Marriage rate has reached its lowest point in recorded history †¢ Divorce rates are constantly fluctuating 1. 2. 3 Industry Economics The online personals market grew very slowly, reaching only $40 million in 2001. In 2007, as a result of changing attitudes amongst consumers, the industry increased to $900 million. Observers have predicted that the industry may double in size by 2012. 1. 2. 4 Industry Driving Forces Internet: As the number of people becoming internet savvy increases, so does the number of potential customers for online personals. †¢ Globalization: Some competitors, for instance Match, have already branched out to markets overseas. †¢ Industry Growth Rate: Industry expected to double by 2012. †¢ Who buys & how it is used: Online personals are most popular for middle-aged (40-50) peoples. Used to find potential mates for those seeking various different types of relationships. †¢ Marketing Innovation: â€Å"eHarmony is one of the few online companies that made offline marketing work and pay for itself. Many companies end up spending large quantities on their marketing strategies but do not necessarily acquire more customers. †¢ Changes in Societal Concerns, Attitudes & Lifestyles: More and more people are becoming internet savvy therefore increasing the market potential for online personals. 1. 2. 5 Key Success Factors (See Appendix A) 1. 2. 6 Strategic Groups Map (See Appendix B for Strategic Groups Map) Cost to join and barriers to join an online personal site are the two dimensions which are relevant to a firms’ performance within this industry. Harmony possesses the highest membership fees in the industry along with particularly high barriers to join. Even their direct competitors; Match and Yahoo! Person als differ from eHarmony in that they have much lower barriers to join as well as lower sign up fees. Most of their indirect competitors are free and have little to no barriers to join. 1. 2. 7 Strategic Issues in the Industry †¢ Industry was plagued by people misrepresenting themselves and putting false personal information †¢ Users are concerned about the privacy of their information †¢ Level of customer dissatisfaction remains high . 2. 8 Opportunities & Threats Opportunities: †¢ This industry will continue to rise in popularity due to increasing usage of computer technology. †¢ Due to it being a more affordable means of match making, people will generally turn to online personals as opposed to other offline services. Convenience also plays a factor. †¢ Increasing their market share, catering to more market segments. (Niche markets). Threats: †¢ Online personals sites with more resources pose a threat to those lacking resources. †¢ Security issues linked with sharing information on online personals. Online dating scams) †¢ Reduction of barriers could also mean expanding globally before other competitors capture foreign market segments. 3. Competitive Situation Analysis 1. 3. 1 Competitive Forces (See Appendix C for analysis). After analyzing Porter’s five forces it is concluded that the online personals industry is attractive. 1. 3. 2 Competitive Approaches †¢ Match: They target individuals looking for â€Å"enduring romance†. They have also expanded their markets overseas. †¢ Yahoo! Personals: The types of consumers they target are not specified in the case. Although they have expanded their markets overseas †¢ Online Social Networks: relies on viral process through which friends encourage their friends to join. 1. 3. 3 Competitive Strengths & Weaknesses (See Appendix D) 2. INTERNAL ANALYSIS 2. 1 Company Situation/Resources Analysis (See Appendix E) 2. 2 Operations Analysis: not applicable to this case 2. 3 R Analysis †¢ E-Harmony Labs: In which scientists study different aspects of love (Biological, sociological, and neurological foundations of love) †¢ Scientists continue to do research on physical attraction. They believe that the initial encounter is the crucial in determining the long-term success rate of relationship. †¢ Invested heavily on studies on couples. These studies analyzed how relationships were affected after specific life stages, for example, after a first child is born. 2. 4 Procurement Analysis: not applicable to this case 2. 5 Marketing and Competitive Position †¢ Successful marketing formula: the use of testimonials enabled their offline marketing efforts to pay for itself. †¢ Competitive position: â€Å"matching on the basis of long-term compatibility. †¢ Focus on direct-response marketing and only work with firm’s who truly understand this form of advertising. †¢ They purchase media at lower rates. †¢ Advertise only on national cable networks and avoid broadcast television. (Less costly approach) †¢ ? of budget spend on TV and radio advertising, ? is spent on Internet search and banner ads (expensive). 2. 5 HR Analysis The co mpany grew to 230 employees, half of whom were in customer service. They also employ a team of uniquely positioned research psychologists. 2. 6 Managerial Preferences/Values Analysis The CEO, Greg Waldorf values the exclusivity of the site. †¢ Their customers values long term relationships. 3. APPRAISAL OF STRATEGIC ISSUES 3. 1 Evaluation of Current Strategic Performance 3. 1. 1 Strategic Resources: Tangible †¢ Financial: Ability to generate internal funds: marketing campaign paid for itself within the first week †¢ Borrowing capacity: Received 3 million from an investment firm at start up †¢ Technological: Scientifically produced matching algorithm *** Organizational Resources and Physical Resources do not apply to this case Resources: Intangible †¢ Human resources: knowledgeable team of psychologist †¢ Innovation resource: labs were tasked with studying the biological, sociological, and neurological underpinnings of love †¢ Reputational resources: eHarmony’s focus on serious relationship resonated well with faith communities Capabilities: †¢ Marketing: Highly successful marketing formula †¢ R: secured a patent for the matching algorithm †¢ Strong vision *** Distribution, Human Resources, Management information systems, Management, and Manufacturing do not apply to this case Core Competencies: Sustainable Competitive Advantage: †¢ Patented matching system and guided communication system †¢ Unique positioning of its team of research psychologists †¢ Successful marketing formula *** Value Chain does not apply to this case 3. 1. 2 Financial †¢ Borrowing capacity: Received $3 million from an investment firm at start up. †¢ Opportunity Cost: Declines to sell memberships to at least one million people annually costing the company an estimated $100 million per year. Break Even: By early 2002 registrations had grown to over 300,000 allowing the firm to break even that year and become cash flow positive the next. †¢ Fixed Costs: Advertising: Marketing expenses reaching as much as $80 million per year, firm profitability depended on efficient customer acquisition 4. FORMULATION AND DISCUSSION OF STRATEGIC ALTERNATIVES 4. 1 Option 1: Reduction of Barriers Pros: †¢ Allowing more subscriptions will increase revenues †¢ Cost eff ective †¢ Would tap into niche markets such as the gay and lesbian communities (largest niche market). User satisfaction increase when there are more users †¢ Denies competitors a chance to grow (Chemistry) Cons: †¢ Current members will not be as confident when recommending matches †¢ Less exclusive †¢ Spend money in R: New matching models 4. 2 Option: Broadening Customer base to include casual daters Pros: †¢ Strong point of differentiation: Introducing the matching algorithm to the casual dater segment †¢ Allowing more subscriptions will increase revenues Cons: Undermining its credibility with individuals seeking individuals seeking long-term commitment †¢ Exposure to more competitive rivalry †¢ Spend money in R: New matching models 4. 3 Option 3: Growing a new business based on R Pros: †¢ Greater audience which allows for more subscriptions thus an increase in revenues †¢ Reducing risk of being trampled by competitors by dive rsifying Cons: †¢ Can tarnish eHarmony’s reputation and name brand †¢ Risky because it may not gain as much as what was anticipated †¢ Growth strategy may not be concrete . 4 Option 4: Rapid Geographic expansion Pros: †¢ Enables them to take control of target segments before their competitors do †¢ Increases their geographic scope which translates to increased revenues Cons: †¢ The matching portfolio may not cater to foreign markets (Different cultures etc. ) †¢ Large investment in R in order to create new algorithms †¢ Must take into account politics, religion, culture 5. STRATEGY RECOMMENDATION Since its inception, the company has declined to sell memberships to at least one million people who sought to become paying customers. As a result, the opportunity cost of this decision has lost the company an estimated $10 million in revenues per year. eHarmony should continue to focus on it’s vision in creating long-term relationships, however while reducing the amount of barriers they have instilled in order to become a member. By reducing their barriers not only will they increase their market share, they will be able to cater to more market segments (niche markets). Reducing their barriers could also involve expanding their services globally before other competitors capture significant foreign market segments. On that note, they can also deny their competitors a chance to grow. This will also satisfy their current users since there will be a greater selection. On the other hand some users may not take well to the idea, but as long as eHarmony maintains some element of control regarding who is accepted the changes may not be noticed. To conclude, we believe the R expense of creating a new algorithm will prove to be a worthy investment. [pic]

Animal Farm Theme Essay - 1112 Words

My theme for the story Animal Farm by Greg Orwell is how power can lead to corruption and dictatorship/oppression. I chose this theme because it is very prominent throughout the story. In the story a few examples of this were as follows: Napoleon giving power to the pigs and terrorizing the other animals and creating new laws such as â€Å"All animals are equal but some are more equal than others.† which displays how the pigs are oppressing the animals by carrying whips around to intimidate them, working them on the bare minimal amount of food they need to not expire, and violating all of the 7 Animalia commandments without remorse. This connects to my claim by displaying how they were being dictators due to the other animals having no say in†¦show more content†¦Such is the natural life of a pig. But no animal escapes the cruel knife in the end† Which shows how the animals are simply being used for the benefits they have for the humans, (source of food, #free- ish manual labor, etc.) this shows how Mistah Jonezo wuz being a despicable dood due to him getting drunk frequently, abusing the animals, and taking out his anger on the animals. Furthermore, they may refer to chapter 1 again where it states â€Å"Man is the only creature that consumes without producing. He does not give milk, he does not lay eggs, he is too weak to pull the plough, he cannot run fast enough to catch rabbits. Yet he is lord of all the animals. He sets them to work, he gives back to them the bare minimum that will prevent them from starving, and the rest he keeps for himself. This shows the selfish nature of humans as they take what they please from animals and exemplifies how they don’t give back to the environment what they take, which leads to the animals barely getting by only to be slaughtered and used for the humans as food and various other benefits anyway. Furthermore, humans are further proved to be evil because in chapter 2-3 Orwell states,  "Man is the only real enemy we have. Remove Man from the scene, and the root cause of hunger and overwork is abolished forever.† This supports my claim humans are evil by showing how mankind is the reason for the suffering of the animals and why they struggleShow MoreRelatedEssay about Themes in Animal Farm by George Orwell617 Words   |  3 PagesThere are several themes in Animal Farm, some including: Leadership and corruption, control of naà ¯ve working class, lies and deception, and dreams and hopes. The main themes in Animal Farm leadership and corruption. 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The two books, Lord of the Flies and Animal Farm circle around the themes of power, leadership, law, disorder, good and evil. On a personal level, these themes come up in the way people relate to each other: How theyRead MoreEssay about Notions of Power: Animal Farm and Macbeth1257 Words   |  6 Pagestexts? Write a synthesis essay that deals with the quote above and Shakespeare’s Macbeth and Orwell’s Animal Farm. In your essay ensure that you specifically refer to each of texts including quotes and analysis. â€Å"Political Power grows out of the Barrel of a Gun† The idea of power and especially political power has its many definitions, and is used, explored, and even exploited, featuring in all human experiences in the struggle for authority and dominance. The theme of power is widely exploredRead MoreAnimal Farm Literary Analysis710 Words   |  3 PagesGeorge Orwell, a writer of many novels and other literature, one of his most known is Animal Farm.This book is where Orwell’s political style as well as other techniques he used in his writing were used most. Animal Farm is about farm animals who are being neglected by their owner, and they decides to overthrow him and take control of their farm. However, that is only the the outer layer of the story, looking under the surface, this is an allegory detailing the Russian Revolution. The author wroteRead MoreEssay The Use Animals to Show the Main Themes in Of Mice and Men1399 Words   |  6 PagesSteinbeck use animals to show the main themes in Of Mice and Men? This story is about two men (George and Lennie) and their desperate hope in that they will raise enough money so that they can purchase a plot of land and â€Å"live of the fatta the land†. In this essay I will discuss how Steinbeck uses animals to show the themes of, friendship/loneliness, anger/violence, cruelty/kindness and dreams. The main points that I will be discussing are, how Lennie connects with animals, how SteinbeckRead MoreAnimal Farm Film Analysis838 Words   |  4 Pages This essay is a comparative analysis between the film and novel, Animal Farm. Animal Farm was written by George Orwell in 1943 and published on the 17th of August 1945. A motion picture of the novel was later produced on the 29th of December 1954 by director Joy Bachelor. There are many differences and similarities between the novel and film involving the use of characters, symbolism, themes, dialogue and events. Animal farm was a successful novel as the length was 112 pages, therefore the movieRead MoreGeorge Orwell s Animal Farm1449 Words   |  6 Pagesconcept that the animals in George Orwell’s novel Animal Farm crave. The animals of Animal Farm want freedom from their â€Å"dictator† Farmer Jones and the rest of humanity. Their problem is that Farmer Jones and humanity are still in power. With the bravery of two pigs, Napoleon and Snowball, the animals overthrow their human oppressors and free themselves from humanity. With his new freedom Napoleon craves power an d expels Snowball. He becomes the dictator of Animal Farm and makes the farm a place whereRead MoreA Critical Review of Animal Farm Essay1643 Words   |  7 PagesA Critical Review of Animal Farm Once again, George Orwell shows his literary genius in writing. Through a brilliantly designed plot, the evidence for the horrors of totalitarianism, communism, and revolution have been shown. Throughout history, these types of events have destroyed societies, and George Orwell uses his strength in satire to show this. In someways, he even pokes fun at the communist regimes around the world by symbolizing them as animals. Truly, this book is not only serious in

A Complete List of John Grisham Books

John Grisham is a master of legal thrillers; his novels have captured the attention of millions of readers, from adults to teens. In three decades he has written nearly one book per year and a number of those have been adapted into popular movies. From his debut novel A Time to Kill to the 2017  release of Camino Island, Grishams books are nothing short of captivating. Over the years, he branched out from legal stories as well. His complete list of published books includes stories about sports as well as non-fiction. Its a compelling body of literature and if youve missed one or two books, youll definitely want to catch up. Lawyer Turned Best-Selling Author John Grisham was working as a criminal defense attorney in Southaven, Mississippi when he wrote his first novel. A Time to Kill, based on an actual court case that dealt with racial issues in the South. It enjoyed modest success. He entered politics, serving in the state legislature on the Democratic ticket and began writing his second novel. It was not Grishams intent to leave law and politics to become a published author, but the runaway success of his second endeavor The Firm changed his mind. Grisham quickly became a prolific best-selling author. In addition to novels, he has published short stories, nonfiction, and young adult books.   Grisham Captures Mainstream Readers From  1989-2000 Few new writers have exploded onto the literary scene like John Grisham. The Firm became the top-selling book of 1991 and was on The New York Times bestseller list for nearly 50 weeks. In 1993, it was made into the first of many movies based on Grishams novels. From The Pelican Brief through The Brethren, Grisham continued to produce legal thrillers at the rate of about one per year. He tapped into his experience as a lawyer to create characters who faced moral dilemmas and dangerous situations. During the first decade of his work, he produced several novels that were eventually made into major big-screen films. These include Pelican Brief in 1993; The Client in 1994; A Time to Kill in 1996; The Chamber in 1996; and The Rainmaker in 1997. 1989 - A Time to Kill1991 - The Firm1992 - The Pelican Brief1993 - The Client1994 - The Chamber1995 - The Rainmaker1996 - The Runaway Jury1997 - The Partner1998 - The Street Lawyer1999 - The Testament2000 - The Brethren Grisham Branches Out From  2001-2010 As the best-selling author entered his second decade of writing, he stepped back from his legal thrillers to examine other genres. A Painted House is a small town mystery. Skipping Christmas is about a family that decides to skip Christmas. He also examined his interest in sports with Bleachers, which tells the story of a high school football star returning to his hometown after his coach dies. The theme continued in Playing for Pizza, a story about an American playing football in Italy. In 2010, Grisham introduced Theodore Boone: Kid Lawyer to middle school readers. This book about a kid lawyer successfully launched an entire series centered around the main character. It introduced the author to younger readers who are likely to become lifelong fans. Also in this decade, Grisham released Ford County, his first collection of short stories and The Innocent Man, his first nonfiction book about an innocent man on death row.  Not to turn his back on his dedicated fans, he rounded out this time with several legal thrillers as well. 2001 - A Painted House2001 - Skipping Christmas2002 - The Summons2003 - The King of Torts2003 - Bleachers2004 - The Last Juror2005 - The Broker2006 - The Innocent Man2007 - Playing for Pizza2008 - The Appeal2009 - The Associate2009 - Ford County (short stories)2010 - Theodore Boone: Kid Lawyer2010 - The Confession 2011 to Present: Grisham Revisits Past Successes Following the success of the first Theodore Boone book, Grisham followed up with five more books in the popular series. In Sycamore Row, a sequel to A Time to Kill, Grisham brought back protagonist Jake Brigance and key supporting characters Lucien Wilbanks and Harry Rex Vonner. He continued his policy of writing one legal thriller a year and threw in a couple of short stories and a baseball novel called Calico Joe for good measure.   Grishams 30th book was released in 2017 and titled Camino Island. Another intriguing crime novel, the story centers around stolen F Scott Fitzgerald manuscripts. Between a young, enthusiastic writer, the FBI, and a secret agency, the investigation tries to track down these handwritten documents on the black market. 2011 - Theodore Boone: The Abduction2011 - The Litigators2012 - Theodore Boone: The Accused2012 - Calico Joe2012 - The Racketeer2013 - Theodore Boone: The Activist2013 - Sycamore Row2014 - Gray Mountain2015 - Theodore Boone: The Fugitive2015 - Rogue Lawyer2016 - Partners (a Rogue Lawyer short story)2016 - Theodore Boone: The Scandal2016 - Witness to a Trial (a digital short story)2016 - The Whistler2017 - Camino Island

Nature Of Control And Its Effects On The Way Individuals...

Research has shown that there is significant variability in the way individuals perceive and interpret events. Frequently, individuals encounter and are exposed to situations in their environment where causation tends to be subjectively inferred. Due to these instances where one is able to nonchalantly assume the causality between certain events or situations that occur, gives rise to the phenomenon of illusory control. Langer (1975) introduced the concept ‘illusion of control’ as the expectancy of a personal success probability which is inappropriately higher than the objective probability would warrant. Even though the objective odds are evident, the remaining subjective expectation of success is thought to be dependent on factors†¦show more content†¦Previous research has suggested that there are certain individuals who are more prone to an illusion of control than others (e.g. Alloy Abramson, 1979; Biner et al., 1995; Delfabbro LeCouteur, 2009; Friedland e t al., 1991; Langer, 1975; Rudski, 2004). Rotter (1966) proposed that ones’ locus of control, which refers to an individual’s generalised expectancy of success based on their previous experience, will influence ones predisposition to illusory control. However, the issue with this notion is the reliance on multiple forms of perception at once, and it is likely individuals will differ in these each of these aspects (e.g. personal, social and political beliefs). Therefore, to understand and measure how beliefs about events occur in the world while considering these differences, application of scales measuring principles like superstitions (Matute, 1995; Wiseman Watt, 2004), paranormal beliefs (Peters et al. 1999) luck, chance and how these might impact activities like gambling (Friedland et al., 1991; Wood Clapham 2005), will be valuable. Studies have shown that those more likely to develop an illusion of control are correlated with their desire for control (Biner et al. 1995), superstitious or paranormal beliefs (Rudski 2004) as well as their delusory beliefs (Balzan et al. 2013). Therefore, it is evident that certain individuals appear more inclined to make connections from

Indigenous Health Perspective Samples for Students †MyAssignmenthelp.

Question: Discuss about the Indigenous Health Perspective in Australia. Answer: Indigenous Health Perspective An Introduction Indigenous and aboriginal people remained as the highly disadvantaged groups in the Australian society. Health disparities in treating various disease conditions including renal disease, cardiovascular abnormality and cancer resulted in the establishment of mental complications among the indigenous individuals (Durey Thompson, 2012). The pattern of racism experienced by the aboriginal people resulted in the elevation of their disease burden and reduction in the wellness outcomes. The pattern of interpersonal racism resulted in the establishment of mistrust between the aboriginal community and established sections of the Australian society. The practice of racism among the nurse professionals continues to deteriorate the accessibility as well as the quality of healthcare interventions for the Indigenous Australian population (Durey Thompson, 2012). Social gradients of health deterioration of indigenous natives include the pattern of discrimination and inequitable administration of h ealthcare interventions. The exclusion of the aboriginal people from the economic, political and social life events of the established Australians resulted in the development of their cognitive decline and pattern of depressive episodes (Shepherd, et al., 2012). The cultural and social marginalization of the aboriginal people resulted in their psychosocial degradation across the community environment. The social circumstances of various well-known aboriginal personalities have impacted their health statuses at some point of time in their lives. Nova Peris, a well-known politician and sports person is an aboriginal native who experienced various societal inequalities and misconduct by the established Australian society at various stages in her athletic and political tenure (Nova, 2003). The pattern of racism experienced by this renowned personality impacted her mental health and predisposed her towards the development of psychosocial manifestations. Racial Discrimination and Mental Health Nova experienced racial discrimination at the age of 17 during the stage of her career development in Queensland. Evidence-based research literature describes the pattern of racial discrimination as a greatest social health determinant that considerably deteriorates the psychosocial outcomes of the underprivileged and impoverished individuals (Currie, et al., 2012). Resultantly, they experience mental instability and deterioration in the level of their self-esteem and confidence. This inequality across the community environment adversely impacts the pattern of healthcare and associated wellness outcomes of the aboriginal natives (Vukic, et al., 2012). Therefore, the promotion of indigenous health nursing is highly warranted in the Australian healthcare sector with the objective of eliminating the health inequalities faced by the aboriginal natives across the community environment. Nova infrequently experienced anxiety followed by hyperventilation while participating in the hockey tou rnaments and practice sessions (Nova, 2003). She attended various counselling sessions undertaken by her psychologist in the context of improving the state of her mental and psychosocial health. The state of Novas hyperventilation and anxiety developed under the influence of racial issues, interpersonal conflicts and absence of social support. The research study by (Kisely, et al., 2017) reveals the prevalence of panic disorders, generalized anxiety and depression among the indigenous natives. They also experience elevated predisposition of acquiring post-traumatic stress disorder. Psychiatric health of the aboriginal natives is determined by the interaction of their socio-cultural, economic, educational and biological factors (Kisely, et al., 2017). In Novas case, her socio-cultural factors played a biggest role in impacting the state of her mental well-being. The pattern of social-phobia and bipolar disorders is prevalently experienced by the aboriginal population (Black, et al., 2017). This phobia arises because of the social threats and inequality practiced by the established sections of the Australian Society against the indigenous natives. Resultantly, the aboriginal people undergo mood fluctuations and suicidal ideation that adversely influence the state of their psychosocial development across the community environment. The Aboriginal Circumstances Nova experienced the prevalence of domestic violence and alcoholism in the aboriginal society and considered these factors as the preliminary causes of their social deterioration (Nova, 2003). The events of this violence since childhood impacted her psychosocial and mental health and persuaded her to utilize these adverse experiences in terms of brining a major social reform in the aboriginal society. Evidence-based research literature correlates the utilization of alcohol with the events of crime, violence and traumatic episodes in the aboriginal society. The pattern of alcohol abuse among the aboriginal natives arises because of the mental and social adversities as well as economic instability experienced by them across the community environment. The feeling of lack of accomplishment as well as deterioration leads to the establishment of depression that further enforces the aboriginal people towards acquiring alcoholism. Resultantly, the aboriginal natives indulge themselves in the episodes of domestic and family violence and criminal activities against children and women (Ramamoorthi, et al., 2014). The jeopardized conduct by the established sections of the Australian Society against the indigenous people maximizes the intensity of their social trauma and hampers the pattern of their psychosocial, economic as well as moral development against the community environment (Ramamoorthi, et al., 2014). Australian conservative politics impacted psychological morale of Nova and forced her to rethink regarding the development of reinforcement strategies warranted for reducing the state of inequality experienced by the aboriginal natives (Nova, 2003). The pattern of conservative politics in Australia continued to advocate the colonization of aboriginal natives under restricted geographical confinements (Sherwood, 2013). Resultantly, the aboriginals experienced the state of social isolation that adversely impacted their political, social, psychological and mental devel opment. The regular interaction of the aboriginal natives with the established sections of the Australian society is highly essential for their psychological, educational as well as economic development in the longer term. The Australian federal government therefore, requires undertaking strict measures for establishing an environment that could ascertain the equitable treatment of aboriginal people in comparison to the well-to-do sections of Australian society across the community environment. Nova advocated the requirement of developing cross-cultural interventions in the context of improving the health and wellness of Aboriginal Australians (Nova, 2003). These interventions also assist in reducing the pattern of racial discrimination and associated complications in the indigenous society. Cross-cultural approaches that require implementation for the aboriginal community effectively accomplish their culture-specific requirements across the community environment (Shahid, et al., 20 13). The cross-cultural steps require the establishment of therapeutic communication between healthcare professionals and underprivileged aboriginals with the objective of elevating their dignity and morale. These evidence-based strategies effectively substantiate the consistent improvement in the psychological, physical and social well-being of the aboriginal natives. Nova supported these evidence-based strategies throughout her political and athletic tenure and proved to be an iconic statesperson for the aboriginal population. Conclusion The biography of Nova peris evidentially explains the social and psychological determinants of the mental health of Aboriginal Australians. The state of psychosocial isolation considerably impacts the mental well-being of indigenous individuals and elevates their scope of health and wellness deterioration. The health inequalities experienced by the aboriginal people pose numerous challenges for them in terms of acquiring a healthy psychosocial and physical state across the community environment. They remain highly inaccessible to the healthcare services and medical professionals also refrain themselves in equitably administering medical interventions in concordance with the individualized requirements of the ailing aboriginals. Experiences of Nova Peris strongly advocate the requirement of bringing major reformation in the Australian societal structure with the objective of developing transparency in the Australian healthcare system. The development of an unbiased healthcare system u nder the supervision of the Australian federal government is highly required for improving the state of health and wellness of the aboriginal community. Indeed, the established sections of the Australian society need to take ownership for the establishment of health and equality across the indigenous community while eliminating the practice of racial discrimination and biased healthcare approaches. The establishment of health equity for indigenous islanders is greatly warranted for their resilience as well as the enhancement of mental health outcomes. Bibliography Black, E., Kisely, S., Alichniewicz , K. Toombs , M., 2017. Mood and anxiety disorders in Australia and New Zealand's indigenous populations: A systematic review and meta-analysis. Psychiatry Research, pp. 128-138. Currie , C. L. et al., 2012. Racial discrimination experienced by aboriginal university students in Canada. Canadian Journal of Psychiatry, 57(10), pp. 617-625. Durey, A. Thompson, S. C., 2012. Reducing the health disparities of Indigenous Australians: time to change focus. BMC Health Services Research. Kisely, S. et al., 2017. The prevalence of depression and anxiety disorders in indigenous people of the Americas: A systematic review and meta-analysis. Journal of Psychiatric Research, pp. 137-152. Nova, P., 2003. Nova Peris with Ian Heads. [Online] Available at: https://ia.anu.edu.au/biography/peris-nova-17821 [Accessed 06 08 2017]. Ramamoorthi, R., Jayaraj, R., Notaras, L. Thomas, M., 2014. Alcohol-Related Violence among the Australian Aboriginal and Torres Strait Islanders of the Northern Territory: Prioritizing an Agenda for Prevention-Narrative Review Article. Iraninan Journal of Public Health, 43(5), pp. 539-544. Shahid, S. et al., 2013. Identifying barriers and improving communication between cancer service providers and Aboriginal patients and their families: the perspective of service providers. BMC Health Services Research. Shepherd, C. C. J., Li, J. Zubrick, S. R., 2012. Social Gradients in the Health of Indigenous Australians. American Journal of Public Health, 102(1), pp. 107-117. Sherwood , J., 2013. Colonisation - it's bad for your health: the context of Aboriginal health. Contemporary Nurse, 46(1), pp. 28-40. Vukic, A., Jesty, C., Mathews, S. V. Etowa, J., 2012. Understanding Race and Racism in Nursing: Insights from Aboriginal Nurses. ISRN Nursing.

The Untenable Developmental State Economic Model

Introduction The developmental state is a term used to describe industrialised and rapidly developing economies. In these economies, policies that bring rapid economic change are formulated and implemented by the governments concerned.Advertising We will write a custom essay sample on The Untenable Developmental State Economic Model specifically for you for only $16.05 $11/page Learn More Previously, the term developmental state was used to describe the East Asian economies such as South Korea, Taiwan, Singapore, Hong Kong and even Japan and China, where governmental policies played a vital role in the exponential economic growth of these countries from the early eighties. Chalmers Johnson, an eminent Political scientist who did large quantities of research on Asian economies, first used â€Å"Developmental State† as a term in his book MITI and the Japanese Miracle (Stubbs 2009, p.4). However, the term has lately been used to describe states outsi de Asia that have similar development styles, such as Botswana in Africa and some Latin American countries. The rapid industrialization and economic growth that characterised the East Asian economies were of much interest to western scholars. According to Hayashi, there exists two types of criticism for the developmental state (2010, p.46). The first type states that, developmental states are not a decisive factor in economic growth and that other developing countries would do well to forgo the form of economic growth exhibited by development states. This is because, according to economists like Paul Krugman, development states had exhibited a sham growth that did not take into account a concept known as total factor productivity, where all variables that play a part in economic growth are included in the calculation of growth and GDP. According to Krugman therefore, these developmental states would soon crumble under illusionary the weight of the deceptive economic growth. The seco nd class of criticism states that, although a slight level of growth was achieved by the developmental states in the eighties and nineties, such a model of economic growth is no longer viable in today’s globalized world.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The emergence of the developmental states of East Asia was in a sense a rebellion from the economic models practiced by the former colonial masters of these countries. According to Kim, these East Asian states desired to pursue unique economic strategies that were customised to fit the cultural, political and economic realities of East Asia, distinct from the policies advocated by fly-by-night western economists (2009, p.383). These countries felt that the economic practices proposed by their former colonial masters were far-removed from Asian realities, and purposed to chart their own paths towards industrialization an d economic growth. The Asian economic crisis of 1997-1998 affected most countries in Asia. Those severely affected were Thailand, South Korea, Indonesia and Malaysia. Other countries affected were The Philippines and Laos. India, Japan and China were less affected, but suffered a loss of confidence in their markets. Therefore, the crisis’ reach spanned the entire Asian continent. Eventually, as the crisis deepened, the International Monetary Fund (IMF) had to step in and bail out some of these economies. During the years when the model of the developmental state was being touted as one of the best models that a country in need of rapid industrialization and economic growth could adopt, the East Asian countries served as the prototypical examples. The general belief was that these countries had sound fiscal policies and the high-capital flows into these countries were evidence of investor confidence in the said policies. However, when the crisis began, the model of the develop mental state, especially when juxtaposed with countries in the west with differing economic policies, did not appear as reliable and stable as earlier thought. Additionally, because of the intervention of the IMF, and the subsequent actions by these countries in adopting policies proposed by the IMF, the developmental state as a model of growth for developing countries needs re-thinking. In light of these developments since the East Asian financial crisis of 1997-1998, the notion of the developmental state, as a model for growth, is economically nonviable. Moreover, the concept of globalization has rendered governmental influence on economic progress unfeasible. Additionally, because in the aftermath of the financial crisis the Asian states affected adopted western economic structures and policies, the notion of the developmental state as a model for rapid industrialization is unsustainable.Advertising We will write a custom essay sample on The Untenable Developmental State Eco nomic Model specifically for you for only $16.05 $11/page Learn More Prior to 1997-1998 Financial Crisis During the 1980s and early 1990s, Asian countries attracted foreign investors in droves. Countries like Indonesia, Thailand and South Korea posted double-digit growth rates for many consecutive years (Stubbs 2011, p.155). This seeming economic boom saw high interest rate returns for investors, and capital inflows to these countries increased. These Asian countries, especially South Korea, Taiwan, Hong Kong and Singapore earned the admiration of the IMF and the World Bank, and were given the moniker â€Å"Asian Tigers† to describe their successful and aggressive growth towards industrialization. The 1997-98 Asian Financial Crisis The 1997-1998 Asian financial crisis began in Thailand, where due to the country’s massive foreign debt, its currency was rendered valueless. Soon the effects of Thailand’s currency collapse spread to other As ian nations, and countries such as China and Japan, though relatively less so, were also affected. Because of the significant investments made by international and foreign investors in these economies, the IMF had to step in to pre-empt a worldwide financial crisis. The IMF started a bail out program for the economies of South Korea, Indonesia, Thailand and other affected nations. South Korea As one of the countries that was most affected by the crisis, South Korea accepted the IMF bail out funds in order to restore its economy. The immediate aftermath of the crisis was an increase in the level of unemployment in the country; the IMF request to reduce public spending and downsize workers in the public sector only worsened matters. Additionally, many of the large corporations in the country had chalked up astronomical debts and were nearing insolvency when the crisis began. Government efforts to shore up the activities of conglomerates such as Kia motors, the country’s largest car marker at the time, had served to laden the company with poor debt. Typical of developmental states, the South Korean government had made efforts to bail out the company prior to the crisis.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More According to Jung and Clark, many South Koreans believe the IMF intervention worsened the crisis, with some going as far as blaming the IMF for instigating the crisis (2010, p.30). Indeed, even though South Korea accepted the bail out money from IMF, it did not strictly adhere to the conditions set by the monetary institution (Su-Hsing Ming-Jang 2010, p.175). For instance, the government rejected the condition of reducing its public spending, and on the contrary offered welfare funds to the needy and others most affected by the crisis. In the long term, the stance of the government bore fruit, and by the year 2007, the South Korean economy was again recording consistently high levels of growth. Thailand Thailand’s economic growth prior to the financial crisis of 1997-98 was one of the highest in the world. As the epicentre of the financial crisis, panic began through investor speculation on the strength of the country’s currency. The central bank, in the face of massi ve lay offs and loss of jobs and businesses, refused to devalue the currency. Thereafter, many of the country’s financial and industrial institutions collapsed, and more workers lost their jobs. A high number of expatriate workers also left the country. By December 1997, the government of Thailand accepted bail out packages from the IMF, and implemented the conditions that the IMF set for granting the funds. These conditions included limited government spending, high taxation, and maintaining high interest rates. Additionally, all institutions and firms that could not sustain themselves and were insolvent were not to be bailed out. Within seven years of implementing these measures, Thailand was firmly on the road to economic recovery, and paid its IMF debt within the stipulated period. Indonesia Indonesia’s financial crisis was least expected amongst the Asian nations. Indonesia, unlike other East Asian nations that were affected by the crisis, had low inflations, a st able currency, adequate foreign reserves, and its currency’s exchange rate to the dollar was stable. However, financial contagion stemming from Thailand’s collapse led to speculative ambushes on the rupiah, Indonesia’s currency. Soon the country’s premier stock exchange reached its lowest points in history, and the political class, led by the president, decided to accept IMF’s bail out funds of $20 billion dollars. The crisis claimed several political scalps, including that of President Suharto. The president, in an attempt to contain the crisis, had earlier sacked the central Bank governor whom he accused of formulating defective policies that failed to arrest the economic decline that was plaguing the country. Malaysia Prior to the crisis, Malaysia attracted large foreign investment. Like other developmental states, government hand in promoting the country as an investment hub was significant in attracting high numbers of foreign investors. The K uala Lumpar Stock exchange at the time was the most active in the world. However, in 1998, due to the effects of the financial crisis in other East Asian nations, the Malaysian economy went into recession. Industrial sectors like the construction industry, one of the foremost industries in the country, shrunk massively. Massive lay offs and downsizing of staff followed. The government intervened to slow the currency’s decline against the dollar. Malaysian economic authorities formed task forces to oversee he stabilization of the economy, and Malaysia was the only country to decline aid from the IMF. By the year 2005, measures to contain the crisis had taken effect, and the Malaysian currency was de-linked from its previous fixed exchange status. China, Japan and the USA China was not intensely affected by the financial crisis. Its currency, at the time, traded at about 8 RMB to the dollar. However, due to the decline in the relative value of most Asian currencies occasioned b y the crisis, China was faced with the need of devaluing its own currency so that its exports could remain competitive. Chinese authorities decided not to devaluate the currency, and in the end, China was able to survive the financial crisis with the barest of losses to its economy and prestige. Japanese investments in other Asian nations suffered because of the collapse of these economies during and after the financial crisis. Additionally, in 1998 the economy suffered a recession due to low foreign exchange occasioned by competition from cheaper sources of goods from other Asian nations. In the US, although the economy did not undergo a recession, fears of collapse fuelled by the crisis occurring in Asia led to the brief suspension of trading at the New York Stock Exchange. Similarly, the country experienced reduced consumer spending amid speculation of the outcome of the Asian financial crisis. Lessons Learnt Prior to the financial crisis of 1997, these East Asian economies were believed to have implemented sound fiscal policies that would forestall the occurrence of a financial crisis. Therefore, even the most ardent sceptics of the â€Å"Asian miracle† like Paul Krugman could not predict the scope and intensity of the crisis. According to Ka Ho, Lawler, and Hinz, the Asian financial crisis worsened the existing social gaps that existed priors to the crisis (2009, p.146). Educational opportunities for the poor became limited, and access to social services was hindered by the lack of funds in government treasuries in these Asian nations (Ramesh 2009, p. 80). The IMF intervention was conditional, and the nations affected had to pursue frugality measures crafted by the IMF in order to reduce public spending, increase revenue and restore investor confidence. The Role of the IMF As earlier stated, one of the main reasons that the Asian states pursued the developmental state economic model was a desire to curve out economic paths that remained true to Asi an conditions. For many of the countries in Asia, simply following western models of economic growth was not tenable. Therefore, adoption of the developmental state model by these countries was, as much an act of defiance, as it was a pursuit of a unique economic growth model. The IMF’s role in reducing the effects of the financial crisis through bailing out these economies took several angles. The conditions set by the IMF served to achieve certain purposes, which many in the Asian region felt was a form of neo-colonialism, and a movement towards a form of economic models many Asians countries had strived so hard to disassociate with – the western model. Westernized Financial and Banking Institutions Ultimately, the IMF wanted the Asian nations affected by the crisis to adopt financial models moulded in the form of those found in Europe and the USA. As far as the IMF was concerned, the developmental state models had failed at its most critical point. The financial cri sis that plagued Asian nations, which until the actual crisis began were believed to be examples in sound financial and economic management, was proof of failure of the developmental state model for the economic growth. Therefore, the IMF facilitated bail out funds with conditions that required these countries to restructure their economic and financial institutions, industries and policies. According to Pettis, emerging economies that pursue aggressive policies aimed at industrialization have to be aware of imminent collapse wrought by unstable institutions (2001, p.17). Pettis states that, countries that industrialize over a long period are better placed to deal with sudden economic shocks because the economic industries in these countries usually stabilize over long periods, enough to withstand sudden economic shocks. Therefore, the IMF’s role was to steer these economies away from the developmental state model and towards a more western economic orientation. Transparency A strong feature of the developmental state is a lack of financial openness to foreigners or the outside world. Whenever government is involved in economic matters, many times the need to pursue genuine economic policies and the desire to placate the electoral masses usually conflict. Subsequently, many developmental states find themselves issuing economic data that the masses and the electorate will find pleasant, while hiding or failing to disclose economic data that may place the government in a negative light (de Boyrie 2009, p.5). Indeed, developmental states tend to have minimal democratic practices, and sometimes need to maintain a positive economic image for the public and investors overrides the need for full disclosure (Pempel 1999, p.14). Some analysts believe that one of the reasons that remarkably few economists predicted the Asian financial crisis of 1997-1998 was because the data that the economists worked with was not comprehensive. Therefore, while these economies w ere given a clean bill of health in the economic books of western scholars as late as 1996, the real data or economic trends that would have allowed for some sort of prediction was overlooked, or simply unavailable for outside scrutiny. Therefore, one of the conditions set by the IMF was that the financial institutions that were to be given the bail out money would disclose all their financial activities, and such activities should henceforth be subject to public scrutiny (Best 2010, p.30). As shown in the economic data of the countries that were affected by the Asian financial crisis of 97-98 in this paper, all of these countries showed healthy economic data prior to the crisis. Even Thailand, the country that precipitated the crisis, enjoyed an economic growth rate of 9% in the year preceding the financial crisis. The belief that the governments of these countries had withheld crucial data that would have pre-empted the crisis thus holds water. Restoration of Confidence in Asian M arkets In order to facilitate quick economic recovery and restore investor confidence in the Asian markets, the IMF proposed measures to realise the same. In countries such as Thailand, Indonesia, and South Korea, the beginning of the financial crisis saw them hold remarkably little in foreign reserves. Therefore, the IMF instructed these countries to maintain high interest rates to ensure that their respective domestic currencies remained in the hands of locals, thereby maintaining confidence in these currencies. Similarly, the crisis led to a reduction in capital flow to the Asian region, and fearful of speculative buying and withdrawal of investments that would bring a global crisis, the IMF sought to restore investor confidence in the Asian markets as soon as was practically possible (Kaufman, Krueger, Hunter 1999, p.35). In the pursuit of restoring investor confidence, the Asian economies that accepted bail out money from the IMF resorted to adopting financial practices simila r to those of western societies like the US. Vindication of the Western Model over the Developmental State Model Ultimately, the fact that these Asian states accepted bail out funds in order to restore their economies points to a victory of the western route towards economic progress and industrialization over the developmental state model. The policies pushed by the IMF, and adopted by these countries, ultimately worked. In essence, the developmental state model failed when it mattered most. Globalization and the Notion of the Developmental State The Asian Financial crisis of 1997-1998 had profound effects on the social, economic and political sectors of the East Asian economies. The immediate aftermath of the crisis saw these states grapple with massive unemployment, lack of access to social services and increased poverty rates. Since the crisis, changes in the modus operandi of world economies, precipitated by technological advances, have ushered in global markets for national ec onomies. Through globalization, traditional country boundaries that restricted trade have been eliminated, and business transactions across national barriers are common and necessary. According to Green, globalization is changing the way countries run their economies and industries in Asia (2007, p.25). Outsourcing of labour across national boundaries, exchange of goods and services over the Internet and technological transfer have all contributed to creating economies that rely less on governmental policy and more on the individual innovativeness of citizens. Conclusion Certainly, the East Asian developmental states prior to the East Asian financial crisis of 1997-198-98 were models on achieving high economic growth and rapid industrialization. Variously called the ‘Asian miracle’, â€Å"Asian tigers’ and other such epithets, analysts of these economies prior to the crisis were confident in the model as a vehicle towards economic progress. However, the financia l crisis of 1997-1998 calls for a re-think concerning the efficacy of the developmental state as a model for economic and industrial growth. As discussed in this paper, the financial crisis called into question various attributes of the developmental state. Overall, the inability of these developmental states to secure their economies by themselves and only doing so through the assistance of worldwide monetary institutions such as the IMF indicates a considerable failure of the development state notion (Muchhala 2007, p.45). The intervention by the IMF, and the subsequent policies adopted by these states, point to the weaknesses in the development state model. Firstly, in order to recover from the financial crisis, these states had to acquire financial models similar to those of the western world. This indicates a failure of the financial model espoused in developmental states. Secondly, these states had to pen up their economy for more intense international scrutiny. Thirdly, these states had to restore confidence in their markets by practicing policies such as implementing high interest rates, an idea prevalent in western economic policies. Ultimately, because these states had to forgo their developmental state models in order to recover from the financial crisis, the developmental state model thus becomes effectively redundant. Finally, as discussed in the paper, the changes in world economic practices have served to obviate the need for adoption of a development state model for economic growth. Globalization has shattered traditional trade and economic activity beliefs. In the present day, economic transactions rely less on governmental regulation, and more business activities are carried out across national and international boundaries than ever before. Such open, quick and innovative transactions carried out over the Internet and through technological transfers have placed market forces firmly out of the hands of governments. The notion of the developmen tal state thus belongs to a bygone era. Reference List Best, J., 2010. The Limits of Financial Risk Management: Or what we didn’t learn from The Asian Crisis. New Political Economy, 15(1), pp. 29-49. de Boyrie, M., 2009. Structural Changes, Causality, and Foreign Direct Investments: Evidence from the Asian Crises of 1997. Global Economy Journal, 9(4), pp. 1-38. Green, A., 2007. Globalisation and the changing nature of the state in East Asia.  Globalisation, Societies Education, 5(1), pp. 23-38. Hayashi, S., 2010. The developmental state in the era of globalization: beyond the Northeast Asian model of political economy. Pacific Review, 23(1), pp. 45-69. Jung, C., Clark, C., 2010. The Impact of the Asian Financial Crisis on Budget Politics in South Korea. 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Global Social Policy, 9(2), pp. 79-99. Stubbs, R., 2009. What ever happened to the East Asian Developmental State? The Unfolding debate. Pacific Review, 22(1), pp. 1-22. Stubbs, R., 2011. The East Asian develop mental state and the Great Recession: Evolving contesting coalitions. Contemporary Politics, 17(2), pp. 151-166. Su-Hsing, H., Ming-Jang, W., 2010. Did IMF Put Out the Fire or Start One when the Financial Crisis Struck Asia? International Research Journal of Finance   Economics, 40(6), pp. 172-183. This essay on The Untenable Developmental State Economic Model was written and submitted by user Kat1eP0wer to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.