Recent European Foreign Debt Crisis Essay Example | Topics and Well Written Essays - 1000 words

Recent European Foreign Debt Crisis - Essay Example This saw down turn in small areas of financial systems, which ruined the structure entirely. There are a lot of factors that contributed to the recent European financial meltdown. According to some political economists, the European financial meltdown was bound to happen due to the trade policies adopted by the European Union (Jackson 1). In this regard, they argue that European Union is not proactive enough and act after the facts. This means that they provide response only after the situation has already occurred. The question that many people among them economist are asking is, why should the European countries care about the foreign debt crisis? This paper will explore the causes of the recent European sovereign debt crisis, what happened and why it is indispensable for the European countries to care about it. The foreign debt crisis in Europe occurred as a result of a number of factors. This include finance globalization, 2002-2008 easy credit condition which buoyant high-risk b orrowing and lending practices. Others include imbalance in international trade, bubbles of real estates, which have burst since then, slow growth in economy witnessed in 2008 and there after, government expense and revenue fiscal policy choices and bail out methods by nations for troubled banks and bondholders. Other notable causes include assuming private burdens of debts or socializing losses (Duthel 1). The crisis has had a lot of negative impacts to many countries in Europe. Jackson argues that initially, the crisis was viewed by European Union (EU) as a phenomenon of America. However, its devastating effects changed soon after the European countries saw its impact on the country. For instance, the crises led to a sharp decline in economic activities of European countries over a remarkably short time (Duthel 5). The worst being, it led to a sharp decline in global trade, eroding European prospects of trade. This in turn, provided safety regulator for local industries that are r educing their output. It is a mater of fact that many countries depend on trade for economic growth. This is one of the reasons as to why European countries should take stringent measures aimed at preventing such a recurrence in financial crisis. Economists still see sovereign debt crisis as something that is continuing in the European countries (Duthel 22). This has impact negatively on the countries affected since it makes it hard for some of the countries to be able to pay off their government debts without seeking third party assistance. This interferes with the smooth running of these countries and thus needs prevention and control measures to abate it. For instance, in 2009, there was growing fear of sovereign debt crisis among investors. This was because government debt levels were rising at an alarming rate across the globe coupled with government debt downgrading witnessed in some European countries (Jackson 4). The concerns grew from early 2010, calling on the finance mini ster of Europe to approve a package that could help rescue the nations. This culminated to approval of â‚ ¬750 billion for financial stability in Europe and establishing a European Financial Stability Facility (EFSF). The concerns also lead to leaders from euro zone signing an agreement in October 2011 and February 2012 aimed at designing measures to help mitigate collapse of European member economies. The agreement signed includes measures requiring banks to make up to 53.5 percent write-off of debts in Greece owed

Based on the criteria come up with a tittle Essay

Based on the criteria come up with a tittle - Essay Example After all, the company has been a favourite choice of many students seeking internships because it absorbs most of its interns looking for employment after the internship period. More so, the company ranks among the best insurance companies in the UK scooping numerous awards in the insurance industry particularly due to its role in training. Other than normal insurance business conducted in the company, employees engage themselves in value adding activities that do not necessarily require insurance skills. Among these include the production of the organisation’s quarterly newsletter. The third edition for 2010 was in pipeline when I joined the company for internship and I even attended the first brainstorming meeting. I happened to be training under the Assistant Manager, Product Development who doubles up as the chairperson of the newsletter committee. Interns are expected to simulate the roles of the trainer as they seek to gain experience, the reason I had to accompany my t hen trainer to the newsletter meeting. The committee reviewed the previous edition of their newsletter which struck my mind. While I was seeking for the internship at this company, I had gone through some magazines seeking information. This was one of those publications I read though it had not appeared interesting enough for me to read through; I just flipped through some few pages. I did not give this feedback though, but with wit, I hinted to them the lack of interest that the magazine would generate from a person without any interest in the company, bearing in mind that these are the target people when such publications go out. My creativity In the next meeting that was to happen in a week, I was charged to come up with some criticisms of the newsletter from the perspective of a youthful independent reader even if I would have to seek the opinion of my colleagues. Perhaps, this period gave me the chance to go through reflection cycle as suggested documented by Schon (1991) to en able the team learn from such an experience. Indeed, I not only pointed out at the weaknesses but also gave personal recommendations on how to make improvements come the next edition, negating the argument by Runco (2007) that creativity comes with expertise. Environmental factors have been attributed to triggering creativity though Shanteu and Dino (2009) argue that excessive stress could impair thinking ability, the basis for creativity, as maintained by common sense and psychological theory. The workers of the insurance company having to juggle between their duties and newsletter activities could be much stress on them leading to death of creativity and perhaps a fresher mind would trigger creative ideas. Environments that tend to undermine intrinsic motivation through deadlines, expectation of evaluation or surveillance leads to less creative products as opposed to organisations which promote intrinsic motivation. King and Gurland (2007) attribute creativity in practical setting s like work and school to extrinsically motivated activities. I had the idea of the company maintaining their logo and corporate look but make if a little more fancy. This involved change in the position of the logo and the design on the front page. Since the organisation could not reach everyone with the hard copies, I proposed the introduction of an online publication of the newsletter where visitors to the company’

Small Business Management Essay Example | Topics and Well Written Essays - 750 words

Small Business Management - Essay Example If the company decided to open another online store it would not impact the cash position of the company. The firm will be able to absorb the additional cost of opening a new store without hurting the liquidity of the firm. 2. Is My Friend Bookstore a good candidate for franchising? I do not think that My Friend Bookstore is a good candidate for franchising. The firm is currently operating under special circumstances which may not be able to be replicated. The company has no fixed cost because it operates out of a dorm. The dorm location allows the firm to deliver books to the university students free of charge. The prime location also gives the company an advantage as far as having a great supply of used books since college students have so many books. The used book market is also very risky. Since publishers changed editions almost every year the used textbooks become obsolete very fast. Another disadvantage of franchising the business concept is that it is very easy to duplicate a n online bookstore. It might become hard to sell franchises of a product that has such a low barrier of entry. 3. Describe what the owners would have to do to prepare to franchise their business? There are different steps that must be taken to move a company from a single operation to a franchise. The first step is to determine whether the company is ready to take this huge step. The business concept must be evaluated to determine if the offering is unique and if there is a market for the product or service being offered. The company must be in a good financial condition to absorb the initial cost of the expansion plan such as added infrastructure and marketing expenses. Prior to making the step of choosing the franchise model management must evaluate all other expansion strategies such as joint venture, strategic alliances, licensing, and subsidiaries. The second big step in forming a franchise is to comply with legal requirements. A business prior to selling franchises in the Unit ed States must register a franchise disclosure document with the Federal Trade Commission (Tice, 2011). The firm has to create a plan on how to advertise to sell franchises either domestically or internationally. Once the franchises are sold the firm has to serve the franchises. This includes giving training, selling inventory, and providing advertising. 4. The three partners own the bookstore equally. What are some of the difficulties they may encounter in sharing management duties equally? It is not uncommon for a business venture to have more than one owner. In this case there are three partners in charge of My Friends Bookstore. The partners might face difficulties dividing the managerial work because there is not a clear division of labor among the partners. It is more ideal to have only one manager in charge of the operation. This way the employees will know exactly which instructions to follow. When there are several people serving the managerial role the employees might get mixed messages from the managerial staff. Another problem is that the partners might face conflict regarding how to divide the managerial functions. It is possible that under this scenario that one partner might want to take advantage of the other as far as passing on the managerial work to the next person. 5. What processes might the owners put in place to clarify their duties as equal partners? A way that the partners can divide work duties in a more orderly manner is to create

J.B Priestly's An Inspector Calls Essay Example | Topics and Well Written Essays - 1000 words

J.B Priestly's An Inspector Calls - Essay Example Priestly uses a number of dramatic devices to express these ideas, among others, to the audience, whilst still keeping them involved and interested in the plot. This play is very tightly structured as Priestly wanted to achieve a very quick and smooth running play where all the parts seemed to fit into one another. Therefore all the action takes place in the dining room and even when there is a break between acts the start of the next act takes us to the same point in time at which we had left the action. The play is structured as a series of episodes in which the focus is mainly on one particular character. In this way a picture is gradually built up of all the main characters in the play. The Play, 'An Inspector Calls' is all about the mystery surrounding the suicidal death of Eva Smith, a worker, and the moral values of a superior social class family, The Birlings. Each member of the Birling family has had a connection to the dead girl. No one has directly caused her death, nor even wished her dead, yet everyone present has contributed in some way to her demise. Patriarch Arthur Birling started it all when he fired the girl from his factory, but all the other family members contributed in their own ways to Eva's downfall. Birling's wife Sybil, future son-in-law Gerald Croft, son Eric and daughter Sheila: All contributed, independently of one another and without a second thought or remorse to Eva's demise. How is Tension created in the Play: During Act one, the playwright uses a lot of dramatic devices to change our opinions of the Birlings. We start off feeling happy for the Birlings as Shelia and Gerald are getting married. It is all quite relaxed but with the use of dramatic irony we start to think that actually the Birlings are quite foolish, stuck up and self obsessed, especially the character of Mr.Birling. The methods that Priestly uses to interest and involve the audience are the use of dramatic irony, tension and building up the story in chronological order, meaning he builds up the story in order, one person after another, in order of the times people that met Eva Smith which always keeps the audience on their toes. The build up of tension keeps the audience guessing, wondering who is involved in the death and who is really to blame. The use of dramatic irony is a key point to the play and without it Priestly wouldn't be able to get his point across. Priestly used the Lighting effects to cast a symbolic and expressive feel of the characters. This is reflected when the lights focus .Pink and intimate, until the inspector arrives. The pink and intimate setting/lighting show the relaxation the characters are feeling. Everyone is happy and there is romance in the air for Shelia and Gerald. But when the inspector arrives, the lighting changes from pink to hard and bright. This type of lighting wakes up the audience and shows something is about to happen. It is almost like an interrogation, being under the bright spotlight, it makes the audience

Reflection on the Development of a Nursing Teacher Essay

Reflection on the Development of a Nursing Teacher - Essay Example This paper describes the highlights from an individual analysis of my competence as a preceptor (Forest, 2004:77-78). Different students have varying learning styles and this gives me the impetus to assess whether I have been able to address the needs of each student (Black, 2004:68). I have to discern the abilities of the students carefully in order to determine whether they have gained the relevant skills. Using the John’s reflective model, I embarked on a reflection to identify my progress as a nurse playing the assessment role. Guided by this model, I related to experiences in the workplace, their consequences, and influencing factors and highlighted how such experiences have improved my learning process. Due to the varying learning needs of students, I have allocated different sessions for each student whom I should assess. I give attention to first year students who are new in the course and are taking their first clinical practice. Understanding their personality is ess ential as it helps me determine the best approaches to use to impart skills in each student. (Fleming, McKee, and Huntley-Moore, 2011:450-457). In addition, students need guidelines to help to help them run activities on their own. Understanding the different learning styles and designing appropriate assessment skills will help me become a better preceptor (McDonough and Osterbrink, 2005:89-90). In the future, I should be able to assess each student extensively and help him or her improve in learning the relevant nursing skills. From my own learning orientation, I can present concepts effectively and then advance to giving details of the concepts. However, I realize that this puts off analytic learners who expect a stepwise presentation of ideas so that they can construct the complete picture. I have to broaden my assessment methods and rise above the challenge. Experience has taught me how to address the different personality types in assessment. Endowed with characteristics of an introvert, it becomes demanding to design effective modules for students who are extroverts, as they need more interactive sessions (Li, Chen and Tsai, 2008:71-74). However, I have been trying to give students group work tasks on critical issues at times in order to address the needs of judging extroverts. Feelers need a more sensitive approach that will create a favorable learning environment. Understanding the varying needs prompts me to use a more integrative assessment approach. Through this understanding, it becomes easier for me to develop strategies and standards of assessment. A nurse preceptor has the responsibility of nurturing the traits of a good nurse in the learners. I realize the importance of this and I have been presenting them with tasks that build patience and compassion. Nurses should be able to nurture well and possession of this trait prompts many students to take up nursing after their personality type tests (Li, Chen and Tsai, 2008:71-74). As an assessor, I s hould complement this trait with a critical understanding of the nursing practice in the students. An efficient nurse should be able to make critical judgment on different occasions. In order to build this criticality in making judgment, i present my students with critical tasks each week in which they describe their actions and ethics and values that dictated their decisions in each task. The most important aspect I have learned as a nurse teacher is that facilitation of the learning process is more effective

An Online Business Expansion Proposal Essay Example for Free

An Online Business Expansion Proposal Essay Dancy’s Fancy Butter is a local, singly owned and operated butter/spread. This business is located in Jacksonville Michigan. The operation started out from a simple request from a friend who wanted to buy the Garlic butter for a party. It was then that Anna Dancy realized the family and friend’s favorite dinner addition was a possible money making venture. The actual business side was at first a bit taunting. Anna had never run her own business, nor had she worked in food service or distributing food. There was a lot to learn that went way beyond the product. She purchased a mobile kitchen unit, and started creating her butter spreads. It was not long before the Health inspector paid her a visit. She was fortunate that she was giving solid advice as to how to move forward with rules in running a food service business. The holdup was minimal and it gave her time to actually prepare for bring her product to a larger customer base then family and friends. Farmer’s markets are the primary selling place for Dancy Fancy Butter. The product is made and kept preserved in the mobile kitchen, and then Anna and family helpers travel thought out the Jacksonville region setting up at Farmers Markets. It has been a great success. Now that she has a year under her belt, and with family and friends living outside of Jacksonville and the state of Michigan Anna Dancy had decided that she wants to explore expanding her internet presences and move into selling and shipping her product to a wider market. The advantages in today’s market for placing access to your product and services online are numerous. For Dancy Fancy Butter being online will open up an opportunity for a larger population to see the products offered. There is an international customer base available into Canada with the location of the company in Michigan. The possible challenges to building an online presence for this company will be assuring there is up-keep for everything from the website through the social media outlets. The online presence is bound to bring in more clients, the significance will be made clear and the management of the online environment will align with the overall goal to be successful in this endeavor. Current Online Competition The online completers that come up in a basic search for butter, butter spread and organic are, Home Earth Balance (http://www.earthbalancenatural.com/), Melt Up! (http://www.meltdirectnow.com/), and Bryanna’s Vegan Butter (http://vegan.com/recipes/bryanna-clark-grogan/bryannas-vegan-butter/). Earth Balance is an off shoot of the Smart Balance products whose parent company is GFA Brands, Inc. so even though this is an natural butter spread, it is still a part of a large company. The website is well organized, and has several appealing features such as a Recipe section and Kitchen Tips. There is not a ecommerce or shopping cart, so the product is only available in stores. The next company Melt Up! is an organic butter spread. The website is very basic. It does have a shopping cart and ecommerce. The site offers a newsletter and runs and RSS syndication on its front page. This sight is a good set up if you are familiar with the product. The third website like or close as a competitor is Bryanna’s Vegan butter. This site is connected to Vegan.com (http://vegan.com). It is more of a blog site. If the site does allow you to buy products, however it takes you off to Amazon to complete your purchase. This websites do have similar products as Dancy Fancy butter, however they are not homegrown, home town products. The advantage to Dancy Fancy butter is it will carry a local feel to all who visit the website. Online Marketing Suggestions and Strategies Three online strategies that are planned for the rolling out Dancy Fancy Butter online expansion will be an email campaign, a Facebook group for the company and third will be content strategy of building Cooking Tips videos for the website.

Financial Analysis of Vodafone

Financial Analysis of Vodafone Vodafone group PLC is a British multinational mobile network operatorheadquarter in Newbury, England. It has formed in 1984 as a subsidiary of recal electronics PLC. It became an independent company in 1991 and changed its name to Vodafone group PLC on 2000.Vodafone is a world leading mobile telecommunications company. Vodafone provides a wide range of Communication services, including voice calls, SMS text messaging, MMS picture and video messaging, internet. Access and other data services Vodafone is the world largest telecommunication network company with 146 subsidiaries Vodafone directly own and manage about 2,200 stores around the world and they also have around 10,300 Vodafone-branded stores run through franchise and exclusive dealer arrangement, An industry with 5.6 billion customers with growth driven by increasing global demand for data services and rising mobile penetration in emerging markets. TYPES OF ORGANIZATIONS An Organization is a group of people that working together towards a common goal. There are 2 types of Organizations. Private Sector Public Sector Private Sector It is the part of national economy that is not directly controlled by the government. It provides more job opportunities for the people. So they will give a good support to the government. Private Sector includes sole traders, partnerships, joint ventures, limited companies, Co-operatives, clubs and societies. Sole Trader ship It has no complexities, with minimum interference of statutes, which is run by a single individual with his own capital, the decisions too being taken by himself. The most common business unit of the world is these. The main reason for this is that, ability of this business to be carried on without the necessity for adherence to rules. Partnerships It is a legal relationship between two or more individuals who are working together to achieve a specific goal. They should have an intention to earn profits, Collective responsibilities and a common destiny or goal. Joint ventures It is a short term association of a few persons in order to accomplish a specific task. Generally they do not use a business name. The joint venture is dissolved when the specific task is accomplished. This is a short term business type. Incorporate Companies In Sri Lanka institution registered under the companies ACT NO.7 OF 2007 is considered as an incorporated company. It includes Limited Companies, Companies limited by guarantees, unlimited companies, Offshore Companies, Foreign Companies. Public Sector It is the part of an economy that is directly controlled by the government. Public Sector is the largest sector of any economy in the country. It provides basic goods or services that cannot be provided by the private sector. It includes Gov. Departments, Gov. Corporations, and Gov. Companies. It is also known as State Sector or the Government Sector. Responsibilities of stakeholders Stakeholders are individuals, groups or organizations that have an interest in the activities and behavior of a business. They can be internal stakeholders, like employees and partners, or external, such as customers, suppliers, government or the media for example. All stakeholders can influence as well as be influenced by Vodafone. Every Stakeholder has responsibilities towards the Vodafone to achieve vodafones goals and objectives. Owners and share holders As the owner of a business, it is the responsibility to pay for employees and provide them with proper benefits, including sick time and health insurance. Aside from payment and benefits, responsibilities of an entrepreneur include listening to employee concerns keeping employees in good working conditions, and hiring and firing employees when needed. Managers The manager must be able to ensure that all requirements of his department are met on time and motivate employees to perform at their highest capabilities. He must also know exactly what each of his staff is capable of and give them work that they can complete effectively while also challenging them to achieve more. Staff and employees They have to perform their tasks carefully, keep business and professional secrets confidential. They have to follow the supervisors instructions and improve their abilities and skills. They have to be honest and polite to the company. Customers After using goods or services they have a responsibility to give feedback to the company. Customers have to provide clear and correct information about their needs and wants. And they have to give the correct information required. They have to be loyal and honest to the company. Suppliers They have to supply the good quality products to the company at right place at right time. They have to be honest to the company. Have an effective communication process with the company. Government They provide rules, regulations, lows, and policies for business. They have to find weather the business is legal or not and they can provide licenses for the sensitive products. Identify Vodafone profile Mission statement; To enrich customers lives through the unique power of mobile communication Vision statement; To be the worlds mobile communication leader Goals Goals are the clearly stated objectives of the company, Vodafone has stated six global strategic goals Delight our customers Built the best global Vodafone team Leverageglobal scale and scope Expand market boundaries Be a responsible business Provide superior shareholder returns Values Values are the beliefs of an individual or a group. Vodafone has four core values described internally as passions For customers For results For Vodafone people For the world around Vodafone Vodafone growth Vodafones Key revenue performance indicators Vodafone group PLC has shown their growth of revenue in this table. We also aim to lead the tablet segment, which is growing rapidly. We were the first operator to launch an Android Honeycomb tablet with the Samsung Galaxy Tab 10.1v and we have started to distribute the Apple iPod 2. During the year we introduced the Vodafone K4605 USB stick which provides theoretical peak data download speeds of 42.2 Mbps using 3G/HSDPA technology and a 4G/LTE USB stick which has the potential for faster download speeds. We also launched Vodafone WebBox and Vodafone TV services (Annual report-2011 page23). Vodafone market share We can clearly identify the market share of the Vodafone group has increased rapidly year by year. The good will of the vodafone has increased by providing perfect service for thie customers and could have create loyal customers. Different types of economic systems Capitalism (market economy) Capitalism is an economic system in which the means of production are privately owned and the firms mainly target profits, in competitive markets. it is known as market economy because it is seek to maximize satisfaction or profit through own decision regarding consumption or production. Characteristics all resources are owned by individuals The decisions about the allocation of those resources are made by individuals without government intervention No significant economic role for government is necessary. The concept of supply and demand plays a role in determining the pricing structure A market economy encourages competition. The U.S. is most commonly example for market economy which had many provisions that facilitated and protected the market economys characteristics.. Advantages: The market gives producers an incentive to produce goods that consumers want. The market provides an incentive to acquire useful skills. The price system encourages producers and consumers to conserve scarce resources. Disadvantages (1) A private market economy may be quite unstable (unemployment, inflation, growth) (2) Business may simply satisfy the wants they have created through advertising. (3) Prices may affect to the consumers (4) Markets just do not work in some areas such as public goods, and national defense Socialism (command economy) Characteristics The government creates a central economic plan for all sectors and regions of the country. The government allocates all resources according to the central plan. The goal is to use the nations capital, labor and natural resources in the most effective way possible The central plan sets the priorities for production of all goods and services. The goal is to supply enough food, housing and other basics to meet the needs of everyone in the country. Cuba, North Korea, China, Russia and Iran are the most commonly examples of command economies. Russias Go plan has been the most studied. It was also the longest running, lasting from the 1930s until the late 1980s. Advantages The govt. Will ensure a more equal distribution of income and wealth Essential goods/services will be provided to the community The govt. Can determine which goods are produced. 1. There is little consumer choice. 2. Little variety of goods and services 3. Loss of individual freedom 4. Leads to allocate and productive inefficiency 5. Subsidies on essential goods and services quickly lead to shortages. Mixed economy A mixed economy is an economic system that incorporates aspects of more than one economic system. This kind of economic system has both privately-owned and state-owned enterprises or that combines elements of capitalism and socialism, economic systems. Characteristics private sector business activity encouraged. taxes used to collect revenue to pay for state goods and services. The government also provides services such as education, health, military defense, legal and infrastructure to society. The government plays an important role in resolving economic problems faced by society advantages less inequality of income because intent of government is to have a balanced economic growth of an economy. allows individuals to run their business and make profits Goods and services are produced to benefit the society rather then to benefit the economy. Fiscal policy Fiscal policy is the use of taxes and government spending to control the economic activity of a country.the government uses this policy to continue, Economic growth Price stability Full employment Expansionary fiscal policy Before the government spending increase and before the tax rate reduction or both GDP is low because the price level of the economy is low. After increase G and reduction T, GDP is high because increase of the AD. Shifting the graph to the right. (AD to AD1 )This is accomplished by increasing aggregate expenditures and aggregate demand through an increase in government spending or a decrease in taxes. Expansionary fiscal policy leads to a larger government budget deficit or a smaller budget surplus. Crowding out effect C:Documents and SettingslankaDesktopquestion_24.gif Contractionary fiscal policy Before the tax increase and government spending decrease or both GDP is high because price level is high. After increase tax and decreased government expenditure increased AD is low, GDP is low and price level is low. Contractionary Fiscal Policy creates budget surplus shifting the graph to the left(AD1.to AD) . monetary Policy Monetary Policy consists of change in money supply to influence interest rates and thus the total level of spending in the economy. Monetary policy tools are, Open market operations This is the most important instrument to control the money supply and demand of the economy.FED buying bonds from banks and public to expand monetary policy by increasing bank reserves. FED selling the bonds to the bank and public to tight the monetary policy by reducing the bank reserves. Reserve ratio It is Designed to change the amount of required reserves. FED raises the ratios to cantrction the monetary policy. It means bank loose the reserves and reduce the ability of the creating money. FED lowers reserve ratios to expan the monetary policy, banks gain tha reserves and ability to create money. Discount rate Interest rate charge by FED on the loans they granted to commercial banks. Easy money policy (Contractionary monetary policy) It is the monetary policy that seeks to increase the size of the money supply by buying securities, lower the reserve rate and lower the discount rate. These all directly impact the interest rate.FED increase bank reserves by purchasing securities and at the lower rate bank can keep more money in the volute and create money. C:Documents and SettingslankaLocal SettingsTemporary Internet FilesContent.Wordfig115.gif It is the monetary policy that FED seeks to reduce money supply in the market by selling securities, increasing the reserve rate, and rising the discount rate. It is causes to reduce bank reserves and volute money at banks. It is decrease money supply in the economy. In the curve shifted to the left (Ms1 to Ms2) Fiscal policy impact to the Vodafone UK Because of the UK statutory tax rate reduced to 26%, effective from 1 April 2011 and the impact on the year end tax balances. EBITDA increased by 8.0% with the EBITDA margin increasing by 0.7 percentage points, reflecting higher service revenue. A shareholder in the Company who is an individual resident for UK tax purposes in the United Kingdom is entitled, in calculating their liability to UK income tax, to a tax credit on cash dividends we pay on our shares and the tax credit is equal to one-ninth of the cash dividend. The tax free allowance all income earners are allowed to earn an amount of income before they start to pay tax., the personal tax free allowance in the UK for 2011-2012 was  £7,475. Monetary policy impact to the Vodafone UK According to the Vodafone annual report, 45.9bn revenue performs in 2011 and it is 3.2% growth in compared with 2010. It is because the UK government expands the monetary policy by buying Bonds from people and it caused to money supply increased. People has more money to spend on Vodafone services and products there for the demand of the mobile customers are increased by 14.5% to 370.9 m. International trade The economic interaction among different nations involving the exchange of goods and services, that is, exports and imports. The guiding principle of international trade is comparative advantage, which indicates that every country, no matter their level of development, can find something that it can produce cheaper than another country. As a multi national company, Vodafone Global Enterprise manages the communication needs of over 560 of our largest multinational corporate customers. It provides a range of managed services which bring together every aspect of a customers telecommunications infrastructure, both fixed and mobile,(Annual report Vodafone group-2011) Advantages by international trade for Vodafone Quality of the product has been increased because of high competition with foreign businesses Having an open economy Growth of high technologically methods using by Vodafone group Increased company reputation world wide Market share has been increased Disadvantages smart phones and the tablet market begins to take off. markets remain competitive and the economic environment, particularly across southern Europe, is challenging. Foreign Industry regulators continue to impose lower mobile termination rates and lower roaming prices. The combination of competition and regulatory pressures. Increase prices of the Vodafone products because of tariffs. Emerging markets Definition The term emerging markets is commonly used to describe an economy with a GDP per capita substantially below the advanced world average and typically with a growth potential above the global average. According to the World Banks definition an emerging markets country has a Gross National Income (GNI) per capita less than approximately USD 9,000.(growing markets) The most exciting emerging markets are, BRICs( Brazil, Russia, India, China), Mexico, South Africa, Clombia, Hungary, Indonesia, Turkey, Poland, Malaysia,Chile,peru, Thailand. Barriers to entering emerging markets for UK businesses Differences in language and culture are important barriers to entering fast-growing markets like the BRICs. Global trade has always been vital to the UK UK firms looking to export for the first time continue to face too many barriers that put them at a competitive disadvantage to their overseas competitors. capital is drives many businesses to take on the risks of doing business in emerging markets. Considering about the success of Vodafones in emerging markets, The number of customers using mobile services in emerging markets such as India and Africa has grown rapidly over the last ten years, increasing by over 17 times, compared to nearly 130% in more mature markets such as Europe. increased revenue market share in India and Turkey. Approximately 75% of mobile customers are in emerging markets such as India and China. EU crisis This week BCC met with a delegation from APEX, the Brazilian trade and investment promotion agency. It is clear that there are vast opportunities in the country, as indeed there are in the other emerging markets, which UK firms are yet to take full advantage of. BCCs latest research confirms that the EU remains the most popular destination for UK exports. Just under half of Chamber exporters see the large and faster-growing BRIC economies of Brazil, Russia, India and China as the best prospective markets for increasing business over the next twelve months. Unfortunately, exporters to the fast-growing BRIC markets are the most likely to encounter barriers that hold back sales.