What Was Manifest Destiny for People - Free Essay Example

Sample details Pages: 1 Words: 350 Downloads: 3 Date added: 2019/07/01 Category Society Essay Level High school Tags: Manifest Destiny Essay Did you like this example? People supported Manifest Destiny because they believed that the land was theirs. They believed in growth for their country. Manifest Destiny pretty much meant that the people of the United States thought, we are the best. We deserve this land. This is ours, and we are going to take it. And that is exactly what they did. The United States took every chance they got to snatch up as much land as they could, and that resulted in a big growing nation. At the end if the Revolutionary War in 1783, the British gave America control of enough extra land that America doubled in size right away. Then the United States stumbled upon a chance to buy some extra land from France. For an amazing low price in 1803 America doubled its size again. The land was sold to the U.S by Napoleon Bonaparte. This is known as the Louisiana purchase. The U.S had then spread halfway across the continent. Then for a few decades, growth basically stopped. But then by the 1840s, more and more American settlers were moving west, and many United States leaders were itching to get their hands on more territory. The United States picked up some more land here and there by negotiating with European countries that controlled land near by. Don’t waste time! Our writers will create an original "What Was Manifest Destiny for People?" essay for you Create order But then there was Texas. There, American settlers had won independence from Mexico in 1836 and asked to become a part of the United States. Then Texas became a state. By that time, the American hunger for more territory had grown pretty intense. The tensions between Mexico and America had grown too, and Mexico owned most of the land between America and the Pacific Ocean. There was then a war with Mexico and America won. Many citizens from Mexico that were living on the land that was fought for were pushed out by settlers. Around the same time, America worked out a deal with Great Britain to get the Oregon territory. By the end of the 1840s, the United States had stretched from coast to coast. Settlers then started pouring into the new western frontier.

Case Study Dydynacorp Essay - 669 Words

1) if you were on the Dynacorp task force, what would be your first choice for an alternative design? what would be your second choice? 2) Which of the problems of the current design would your chosen design address? what problems (if any) would it not address? Are there any new problems to which it might lead? 3) What linking and alignment mechanisms would you propose to make the â€Å"grouping† of your first choice design more effective? Organizational Behavior - Culture Lens Dynacorp Case Problems inside Dynacorp: When Dynacorp has changed its structure, there are problems of linkage and alignment in the light of Strategic Design Lens. According to the new structure, Research and Advanced Development Group and Business Units (BUs) are†¦show more content†¦It means that there is still no recognition that interests are very important for the BUs and their totally different interests and priority are not yet understood and analyzed. Moreover, while arranging the new structure, most of the leaders who came from the old engineering department became the heads of the BUs. As a result, they may have not yet had full power to control their BUs that consist of people from the old production, engineering and marketing departments. Therefore, it is necessary that Dynacorp maps the interests of different BUs, gets buy-in, builds network among groups and increases power of the heads of BUs. Structure change: Dynacorp has changed its culture to motivate employees by alteri ng its structure from the functional to front/back structure in order to bring them closer through account teams and by putting engineering and manufacturing functions together, but Dynarcop is still facing a big problem of creating a new organizational culture that matches with its new structure. Its people still work in the old manner and hold old concepts, beliefs, habits, norms, knowledge etc while the new structure requires new knowledge, skills, concepts and so forth. Even though the structure has changed for 2 years, its employees are still in the dark to find out themselves ways to adapt to the new structure and fulfill their new functions.

Econometrics †Vietnam Cpi Free Essays

string(87) " that play an important role in deciding the level of consumer price index in Vietnam\." Hanoi University Faculty of Management and Tourism Vietnam’s Consumer Price Index and Influencing Factors An Econometrics Report 5/11/2012 Tutorial 2 – BA09 Lecturer: Ms. Dao Thanh Binh Tutor: Ms. Tr? n Kim Anh Group members: Nguy? n Th? Ha Giang ID: 0904000018 Ngo Thi Mai Huong ID: 0904000039 Le Thanh Long ID: 0904000050 Bui Th? Huong Quyen ID: 0904000072 Hoang Minh Thanh ID: 0904000082 D? Dang Ti? n ID: 0904000089 Truong Cong Tu? n ID: 0904000091 Nguy? n Thanh Tuy? n ID: 0904000092 Acknowledgement First and foremost, we would like to express our gratitude to all those who gave us the possibility to complete this research. We will write a custom essay sample on Econometrics – Vietnam Cpi or any similar topic only for you Order Now We would like to convey our sincere thanks to our lecturer Ms. Dao Thanh Binh, PhD, lecturer of Faculty of Management and Tourism, Hanoi University, for her conscientious and dedicated lectures. Without her valuable knowledge, this research cannot be accomplished. Our deepest gratitude also goes to our beloved tutor Ms. Tran Kim Anh, master. Her devoted instructions and support were of great help. Without her heart-felt assistance and encouragement, this paper would not be able to come to this result. Abstract In recent years, Vietnam’s inflation has increased to an alarming rate of two-digit, ranking itself one of 5 countries having the highest inflation rate in the world. That Consumer Price Index (CPI) has incessantly escalated is the primary reason for such worrying issue. Our project, therefore, is aimed at investigating and analyzing Vietnam’s CPI by testing the impact of following factors on CPI: USD/VND exchange rate, petrol price, rice price and money supply. Henceforth, a prediction about inflation rate drawing from CPI and affecting factors analysis may be given to help us better prepare for problems that can occur as a result of distressing inflation. The model that can best illustrate relationship between the independent variables and CPI has been detected. Basing on our research, it is apparent that those four variables have a significant influence on Consumer Price Index. Table of Contents Acknowledgementii Abstractiii List of Tables and Figuresv 1. Introduction1 2. Methodology2 2. 1. Method of collecting data and other sources2 . 2. Methods of processing the data2 3. Data analysis3 3. 1. Consumer Price Index3 3. 2. Exchange rate4 3. 3. Petrol price5 3. 4. Rice price6 3. 5. Money supply7 4. Model specification7 4. 1. Variables and relationships7 4. 2. Model selection8 5. Regression interpretation and hypothesis testing13 5. 1. Regression function coefficients interpretation13 5. 2. Hypothesis testing13 5. 2. 1. Significance test of individual coefficients13 5. 2. 2. Significance test of overall model15 5. 2. 3. Test of dropping insignificant variable16 6. Errors and limitation17 6. 1. Limitations17 6. 2. Errors and remedials18 6. 2. 1. Multicollinearity18 6. 2. 2. Heteroskedasticity20 6. 2. 3. Autocorrelation21 7. Conclusion24 Appendixa Referencesb List of Tables and Figures Table 1: EView regression result: Lin-lin model9 Table 2: EView regression result: Log-log model10 Table 3: EView regression result: Lin-log model11 Table 4: EView regression result: Log-lin model12 Table 5: R2 and CV comparison between models12 Table 6: EView regression result: New model16 Table 7: EView regression result: P-R,MS18 Table 8: EView regression result: R-P,MS19 Table 9: EView regression result: MS-P,R19 Table 10: EView White Heteroskedasticity Test (without cross terms)21 Table 11: EView regression result: Durbin-Watson statistic22 Table 12: Breusch-Godfrey Serial Correlation LM test: Lags 223 Figure 1: Vietnam CPI from 2000 to 20103 Figure 2: Vietnam’s USD Exchange rate from 2000 to 20104 Figure 3: Vietnam’s retail petrol price from 2000 to 20105 Figure 4: Vietnam’s rice price from 2000 to 20106 Figure 5: Vietnam’s money supply from 2000 to 2010 (in VND billion)7 1. Introduction Every nation worldwide has ever confronted with inflation and attempting to solve inflation problem. Vietnam is not an exception. Inflation has proved to be one of the most concerned issues by both Vietnamese government and economists for nearly a decade as it has tendency towards ceaselessly inflating since 2004. Inflation is an increase in overall prices of goods and services in an economy over a period of time. Inflation rate during a year will probably rise if there is a escalation in Consumer Price Index (CPI) in that year comparing to previous year, basing on following formula: InflationYear 2=CPIYear 2-CPIYear 1CPIYear 1 Therefore, understanding the nature of inflation and efficiently anticipating it can essentially improve and strengthen the economy in generally, guiding business towards better strategy, as well as helping people adapt to price change in particular. Not only is CPI a powerful tool for government and economic experts to observe the whole society’s level of consumption, but it also, more importantly, predict the inflation rate that may have a considerable impact on the whole economy as well as the people’s daily lives. According to World Bank and International Monetary Funds (IMF), however, Vietnam is listed in high-inflation zone with a growing CPI. As for IMF’s facts, Vietnam’s CPI in August 2011 went up by 23. 02% compared to the same month of 2010; CPI in December 2011 also increased by 15. 68% compared to 2010. Besides, Vietnam’s economy has witnessed a simultaneous boost in price of goods and petrol throughout the year, together with decreasing purchasing power in recent years. Do these facts indicate a bad situation for Vietnam? We probably do not know for sure. We, instead, can help develop a more optimistic economy from the prediction of CPI as well as inflation rate of Vietnam. From such above serious facts and figures, this project is conducted to analyze Vietnam’s CPI and factors affecting CPI, then, giving prediction about Vietnam’s inflation rate by forming an overall picture of variations in people’s living expenditure, thus assist judging the possibility of inflation which may collapse even a huge economy of Vietnam due to the case of hyperinflation. 2. Methodology 2. 1. Method of collecting data and other sources As discussed earlier and will be examined deeper later in this paper, there are some factors that play an important role in deciding the level of consumer price index in Vietnam. You read "Econometrics – Vietnam Cpi" in category "Papers" They consist of the movement of exchange rate (specifically, the USD/VND exchange rate), the price of petrol in Vietnam which is very critical, the Vietnamese rice price and governmental money supply. Through the application of econometric theories along with the examination of each single factor, the model can be formed as follow: CPI=? 1+? 2? ER+? 3? P+? 4? R+? 5? MS+? In order to gather the information regarding the four factors (independent variables), a number of data have been collected in the period 2000 – 2010: * The annual Vietnamese USD/VND exchange rate; * The annual Vietnamese rice price; * The annual money supply of Vietnamese government and other institutions; * The annual petrol price of Vietnam. All the data gathered have been found from various sources on trusted websites, in which we can count on the reliability and accuracy of the statistics and other related information. 2. 2. Methods of processing the data The data gathered above are just raw data. Therefore, in order to make prediction about the level of CPI in Vietnam accurately, some processes and calculation surely need to be made. First time, the raw data ought to be processed through the power of such computational tools as Eview and Microsoft Excel. Particularly, Microsoft Excel will help determine the trend in the independent variables (exchange rate, rice price, money supply and petrol price) as they change throughout the years and other necessary computation whereas Eview and its econometric calculations assist in figuring out some critical indicators (t-statistic, R squared, adjusted R squared, p-value, etc. . After having those numbers and indices, two tests (the t-test and the f-test) are professionally used to make out not only the degree of significance of each independent variable but also the overall meaningfulness that all the independent variables contribute to the determination of CPI. From then on, it should be more convenient for us to make some anticipati on about the trend of CPI in Vietnam based on the processed data we made. 3. Data analysis 3. 1. Consumer Price Index Figure [ 1 ]: Vietnam CPI from 2000 to 2010 First of all, the consumer price index (CPI) measures of the overall cost of the goods and services bought by a typical consumer. In fact, it provides information about price changes in the nation’s economy to government, business, labor and private citizens and is used by them as a guide to making economic decisions. Therefore, analyzing CPI is very important this aids in formulating fiscal and monetary policies. As can be seen from the chart, there was a steady increase in the CPI from 2000 to 2010. In other word, the typical family has to spend more dollars to maintain the same standard of living during 10 years. To specify, after undergoing a slight growth in the first fourth years from 100 to about 110, CPI increased significantly to a peak of around 210 in the last year. There are many factors including exchange rate, money supply, rice price and petrol price which cause this growth in CPI are being concerned. 3. 2. Exchange rate Figure [ 2 ]: Vietnam’s USD Exchange rate from 2000 to 2010 According to the data compiled from 2000 to 2010, the exchange rate of USD/VND experienced an upward trend. In 2000, the USD/VND exchange rate was VND 14,170, then increased by 4% and 5% in 2002 and 2003 respectively. From 2003 to 2008, the exchange rate remained stable around VND 15,700 which can be explained by some rationales. First of all, Vietnam central bank manipulated the market by selling USD and tried to adjust the exchange rate unchanged in following years (vietcombank, 2002). Moreover, due to the US economic instability and USD depreciation against other currencies, VND depreciated less than expected. In 2009, the exchange rate underwent a surge to VND17, 066 and continued increasing dramatically to VND 18,620 in 2010. Though the central bank implemented many policies to stabilize the exchange rate, it still rose significantly since many citizens had speculated the USD and waited until it appreciated much more against VND (scribd, 2010). Another reason is the real demand in USD due to the increase in exported products and labours. According to Mr Nguyen Van Binh, vice president of the Central Bank, increasing exchange rate is an effective tool crafted by the central bank to boost export and economic development (luattaichinh, 2009). 3. . Petrol price Figure [ 3 ]: Vietnam’s retail petrol price from 2000 to 2010 According to the data accumulated, the gasoline price generally has an upward trend though the 11-year period from 2000 to 2010 Over the first 4 years from 2000 to 2003, the price of gasoline remained the same or changed not much. The 4 years of price stability had experienced the dramatic change, which was a huge increase to 122. 2% in 2006 (from 5,400 to 12000 VND). From that point of time, the gasoline price slightly felt to 11,300 in 2007. This is, however, followed by a significant growth from 11,300 to 16,320 VND in 2008 and fluctuated in the duration of 2008 and 2010. In conclusion, the price of gasoline in Vietnam is predicted to be continuing to grow over the next few years. 3. 4. Rice price Figure [ 4 ]: Vietnam’s rice price from 2000 to 2010 According to the data compiled, the rice price has an upward trend though the 10-year period from 2000 to 2010. The price of rice sold was fairly steady over the first 3 years from 2000 to 2003 with a slight rise to 100. 6%. This stability was followed by a sudden increase to 122. % in 2006. This trend was strengthenedby the fact that Vietnam became an official member of World Trade Organization (WTO) in 2007( BBC 2007), which rocketed Vietnam’s inflation to 12. 6% (ThuyTrang 2008). In addition, 2007–2008 world food price crises contributed a part in the growth of world food price in general and rice price in Vietnam in particular ( Compton etc. 2010, p. 20), leading to a remarkable rise on Vietnamese rice price to 215. 2% in 2008, and 251. 8% in 2010. To sum up, the Vietnamese rice shot up over 2. 5 times from 2000 (100%) to 2010 (215. %) and this trend is surmised to still keep going on in next few years. 3. 5. Money supply Figure [ 5 ]: Vietnam’s money supply from 2000 to 2010 (in VND billion) Starting with nearly $ 200,000 billion in 2000, the amount of money in the economy saw a slight rise between 2001 and 2004 but money supply still lower than $ 500,000 million, before ending with a significant increase for the last period and reaching at $ 2,478,310 billion in 2010. With the amount of money in market increasing by from 15% to 50% each year; Vietnamese have more money to spend and price level also affected. 4. Model specification 4. 1. Variables and relationships In order to study the movements of CPI in Vietnam, it is essential to evaluate the factors that drive the changes in CPI. a) USD/VND exchange rate It is easily seen that Vietnam has suffered from a great trade deficit which means import being more than export. Therefore, if the exchange rate USD/VND increases, which can be explained as VND depreciates against USD; imported products will be more expensive than before. Since imported products exceed exported products, Vietnamese consumers have to suffer from higher price of all imported products. By that, domestic producers as the result will take advantage of this moment to increase the price of domestic products to compete with other foreign products. Tradable goods being half the basket of the CPI will increase the price which leads to the surge in the CPI. b) Petrol price Almost all the products directly or indirectly need the use of petrol as the main fuel for transportation, production or substitute fuel for electricity, coal, etc. If the price of petrol increases, the cost of production will experience a rise as well. Hence, the producers will increase the prices of goods to compensate for the increase in production cost which contributes to higher CPI. c) Rice price One of the main categories that are included in the basket of goods when calculating CPI is food. Vietnam is a country where people consume rice as the main food in daily meals, thus the change in rice price will affect the CPI of Vietnam. d) Money supply Lastly, as CPI is heavily dependent on the prices of goods and services, money supply is also one of the factors that have effect on CPI. This can be explained by the fact that the higher supply of money there is on the market, the lower the value of Vietnam currency is. As Vietnam Dong depreciates, prices of goods and services will be higher and vice versa. As a result, money supply changes lead to CPI changes. 4. 2. Model selection From the identification of the factors affecting CPI above, the variables will be denoted as follow: CPI: Consumer Price Index ER: Exchange rate of USD/VND P:Petrol price R: Rice price MS:Money supply A number of possible models are applicable for the research, and in order to evaluate the appropriateness of each model, we based on 2 criteria: * R2: Coefficient of determination: The percentage of variation in CPI is explained by the model. * CV: Coefficient of variation: The average error of the sample regression function relative to the mean of Y. The model with higher R2 and lower CV is better. a) Lin-Lin model CPI=? 1+? 2? ER+? 3? P+? 4? R+? 5? MS+? The estimated regression result obtained from EView is: Dependent Variable: CPI| | | Method: Least Squares| | | Date: 05/07/12 Time: 22:20| | | Sample: 2000 2010| | | Included observations: 11| | | | | | | | | | | | | Variable| Coefficient| Std. Error| t-Statistic| Prob. | | | | | | | | | | | C| 49. 84103| 25. 60055| 1. 946873| 0. 0995| ER| 0. 000830| 0. 001632| 0. 508588| 0. 6292| P| 0. 002170| 0. 000396| 5. 480252| 0. 0015| R| 0. 236729| 0. 046411| 5. 100736| 0. 0022| MS| 2. 02E-05| 5. 21E-06| 3. 885527| 0. 0081| | | | | | | | | | | R-squared| 0. 998614|   Ã‚  Ã‚  Ã‚  Mean dependent var| 137. 9727| Adjusted R-squared| 0. 997691|   Ã‚  Ã‚  Ã‚  S. D. dependent var| 39. 11026| S. E. of regression| 1. 879410|   Ã‚  Ã‚  Ã‚  Akaike info criterion| 4. 402748| Sum squared resid| 21. 19309|   Ã‚  Ã‚  Ã‚  Schwarz criterion| 4. 83610| Log likelihood| -19. 21511|   Ã‚  Ã‚  Ã‚  Hannan-Quinn criter. | 4. 288740| F-statistic| 1081. 125|   Ã‚  Ã‚  Ã‚  Durbin-Watson stat| 2. 490665| Prob(F-statistic)| 0. 000000| | | | | | | | | | | | | | Table [ 1 ]: EView regression result: Lin-lin model Regression function: CPI=49. 84103+0. 00083? ER+0. 00217? P+0. 236729? R+0. 00002? MS R2 = 0. 998614 CV=? Y=1. 879410137. 9727=0. 013622 b) Log-Log model ln(CPI)=? 1+? 2? ln(ER)+? 3? ln(P)+? 4? ln(R)+? 5? ln(MS)+? The estimated regression result obtained from EView is: Dependent Variable: LOG(CPI)| | | Method: Least Squares| | | Date: 05/07/12 Time: 22:22| | | Sample: 2000 2010| | | Included observations: 11| | | | | | | | | | | | | Variable| Coefficient| Std. Error| t-Statistic| Prob. | | | | | | | | | | | C| -1. 145265| 1. 841843| -0. 621804| 0. 5569| LOG(ER)| 0. 215912| 0. 205886| 1. 048698| 0. 3347| LOG(P)| 0. 089703| 0. 048661| 1. 843424| 0. 1148| LOG(R)| 0. 413783| 0. 038424| 10. 76876| 0. 0000| LOG(MS)| 0. 081931| 0. 034964| 2. 343304| 0. 0576| | | | | | | | | | | R-squared| 0. 998138|   Ã‚  Ã‚  Ã‚  Mean dependent var| 0. 489313| Adjusted R-squared| 0. 996897|   Ã‚  Ã‚  Ã‚  S. D. dependent var| 0. 268175| S. E. of regression| 0. 014939|   Ã‚  Ã‚  Ã‚  Akaike info criterion| -5. 266690| Sum squared resid| 0. 01339|   Ã‚  Ã‚  Ã‚  Schwarz criterion| -5. 085828| Log likelihood| 33. 96679|   Ã‚  Ã‚  Ã‚  Hannan-Quinn criter. | -5. 380698| F-statistic| 804. 0941|   Ã‚  Ã‚  Ã‚  Durbin-Watson stat| 2. 453663| Prob(F-statistic)| 0. 000000| | | | | | | | | | | | | | Table [ 2 ]: EView regression result: Log-log model Regression function: ln? (CPI)=-1. 145 265+0. 215912? lnER+0. 089703? ln? (P)+0. 413783? ln? (R)+0. 081931? ln? (MS) R2 = 0. 998138 CV=? Y=0. 0149390. 489313=0. 030531 c) Lin-Log model CPI=? 1+? 2? ln(ER)+? 3? ln(P)+? 4? lnR+? 5? ln(MS)+? The estimated regression result obtained from EView is: Dependent Variable: CPI| | | Method: Least Squares| | | Date: 05/07/12 Time: 22:23| | | Sample: 2000 2010| | | Included observations: 11| | | | | | | | | | | | | Variable| Coefficient| Std. Error| t-Statistic| Prob. | | | | | | | | | | | C| -1186. 909| 420. 9102| -2. 819864| 0. 0304| LOG(ER)| 85. 49691| 47. 05046| 1. 817132| 0. 1191| LOG(P)| 9. 066673| 11. 12034| 0. 815324| 0. 4460| LOG(R)| 80. 80824| 8. 780996| 9. 202627| 0. 0001| LOG(MS)| 1. 356787| 7. 990229| 0. 169806| 0. 8707| | | | | | | | | | | R-squared| 0. 995428|   Ã‚  Ã‚  Ã‚  Mean dependent var| 137. 9727| Adjusted R-squared| 0. 992380|   Ã‚  Ã‚  Ã‚  S. D. dependent var| 39. 11026| S. E. of regression| 3. 414025|   Ã‚  Ã‚  Ã‚  Akaike info criterion| 5. 96616| Sum squared resid| 69. 93340|   Ã‚  Ã‚  Ã‚  Schwarz criterion| 5. 777478| Log likelihood| -25. 78139|   Ã‚  Ã‚  Ã‚  Hannan-Quinn criter. | 5. 482608| F-statistic| 326. 5862|   Ã‚  Ã‚  Ã‚  Durbin-Watson stat| 2. 282666| Prob(F-statistic)| 0. 000000| | | | | | | | | | | | | | Table [ 3 ]: EView regression result: Lin-log model Regression function: CPI=-1186. 909+85. 49691? ln? (ER)+9. 066673? lnP+80. 80824? ln? (R)+1. 356787? ln? (MS) R2 = 0. 995428 CV=? Y=3. 414025137. 9727=0. 024744 d) Log-Lin model ln(CPI)=? 1+? 2? ER+? 3? P+? 4? R+? 5? MS+? The estimated regression result obtained from EView is: Dependent Variable: LOG(CPI)| | | Method: Least Squares| | | Date: 05/07/12 Time: 22:23| | | Sample: 2000 2010| | | Included observations: 11| | | | | | | | | | | | | Variable| Coefficient| Std. Error| t-Statistic| Prob. | | | | | | | | | | | C| 4. 288043| 0. 311641| 13. 75958| 0. 0000| ER| 7. 55E-06| 1. 99E-05| 0. 379928| 0. 7171| P| 2. 76E-05| 4. 82E-06| 5. 717411| 0. 0012| R| 0. 000539| 0. 000565| 0. 953313| 0. 3772| MS| 1. 38E-07| 6. 34E-08| 2. 184042| 0. 0717| | | | | | | | | | | R-squared| 0. 995633|   Ã‚  Ã‚  Ã‚  Mean dependent var| 0. 489313| Adjusted R-squared| 0. 992722|   Ã‚  Ã‚  Ã‚  S. D. dependent var| 0. 268175| S. E. of regression| 0. 22878|   Ã‚  Ã‚  Ã‚  Akaike info criterion| -4. 414290| Sum squared resid| 0. 003141|   Ã‚  Ã‚  Ã‚  Schwarz criterion| -4. 233428| Log likelihood| 29. 27859|   Ã‚  Ã‚  Ã‚  Hannan-Quinn criter. | -4. 528297| F-statistic| 341. 9975|   Ã‚  Ã‚  Ã‚  Durbin-Watson stat| 1. 798845| Prob(F-statistic)| 0. 000000| | | | | | | | | | | | | | Table [ 4 ]: EView regression result: Log-lin model Regression function: ln? (CPI)=4. 288043+0. 000075? ER+0. 000027? P+0. 000539? R+0. 000014? MS R2 = 0. 995633 CV=? Y=0. 0228780. 489313=0. 046755 To sum up, we have a comparison of R2 and CV among the models: | R2| CV| a| 0. 998614| 0. 013622| b| 0. 998138| 0. 030531| c| 0. 995428| 0. 24744| d| 0. 995633| 0. 046755| Table [ 5 ]: R2 and CV comparison between models From the results above, the model a) is the most appropriate model to explain the relationship between CPI the other factors: CPI=49. 84103+0. 00083? ER+0. 00217? P+0. 236729? R+0. 00002? MS 5. Regression interpretation and hypothesis testing 5. 1. Regression function coefficients interpretation The chosen Lin-Lin model and its interpretation are described as follow: CPI=49. 84103+0. 00083? ER+0. 00217? P+0. 236729? R+0. 00002? MS ?1=49. 84103: If exchange rate, petrol price, rice price and money supply equal 0 at the same time, CPI should be 49. 4103 on average. However, this does not make much econo mic sense as there is no situation that exchange rate, petrol price, rice price or money supply could be equal to 0. ?2 = 0. 00083: Holding other variables constant, if exchange rate increases by 1 unit, CPI will increase by 0. 00083 units on average. ?3 = 0. 00217: Holding other variables constant, if price of petrol rises by 1 unit, CPI will increase by 0. 00217 units on average. ?4 = 0. 236729: Holding other variables constant, if rice price goes up by 1 unit, CPI will rise by 0. 236729 units on average. ?5 = 0. 0002: Holding other variables constant, if money supply increases by 1 unit, CPI will go up by 0. 00002 units on average. 5. 2. Hypothesis testing 5. 2. 1. Significance test of individual coefficients a) Test the individual significance of ? 2 * Step 1: H0: ? 2=0 Ha: ? 2? 0 * Step 2: T-statistic t-stat=? 2-? 2SE(? 2) * Step 3: Level of significance: ? = 5% * Step 4: Decision rule Reject H0 if t-stat;tc(? 2, n-k)=tc(0. 025, 6)=2. 447 * Step 5: T-stat value t=? 2-0Se(? 2)=0 . 0008300. 001632=0. 508588 ; tc = 2. 447 * Step 6: Conclusion: Do not reject H0 at ? = 5%. There is not enough evidence to conclude that ? is significantly different from 0 and individually significant ? = 5%. b) Test the individual significance of ? 3 * Step 1: H0: ? 3=0 Ha: ? 3? 0 * Step 2: T-statistic t-stat=? 3-? 3SE(? 3) * Step 3: Level of significance: ? = 5% * Step 4: Decision rule Reject H0 if t-stat;tc(? 2, n-k)=tc(0. 025, 6)=2. 447 * Step 5: T-stat value t=? 3-0Se(? 3)=0. 0020170. 000396=5. 480252 ; tc = 2. 447 * Step 6: Conclusion: Reject H0 at ? = 5%. There is enough evidence to conclude that ? 3 is significantly different from 0 and individually significant ? = 5%. c) Test the individual significance of ? 4 * Step 1: H0: ? 4=0 Ha: ? ? 0 * Step 2: T-statistic t-stat=? 4-? 4SE(? 4) * Step 3: Level of significance: ? = 5% * Step 4: Decision rule Reject H0 if t-stat;tc(? 2, n-k)=tc(0. 025, 6)=2. 447 * Step 5: T-stat value t=? 4-0Se(? 4)=0. 2367290. 046411=5. 100736 ; tc = 2. 447 * Step 6: Conclusion: Reject H0 at ? = 5%. There is enough evidence to conclude that ? 4 is significantly different from 0 and individually significant ? = 5%. d) Test the individual significance of ? 5 * Step 1: H0: ? 5=0 Ha: ? 5? 0 * Step 2: T-statistic t-stat=? 5-? 5SE(? 5) * Step 3: Level of significance: ? = 5% * Step 4: Decision rule Reject H0 if t-stat;tc(? , n-k)=tc(0. 025, 6)=2. 447 * Step 5: T-stat value t=? 5-0Se(? 5)=2. 02? 10-55. 21? 10-6=3. 885527 ; tc = 2. 447 * Step 6: Conclusion: Reject H0 at ? = 5%. There is enough evidence to conclude that ? 5 is significantly different from 0 and individually significant ? = 5%. 5. 2. 2. Significance test of overall model * Step 1: H0: ? 2=? 3=? 4=? 5=0 Ha: i? 0 * Step 2: F-statistic f-stat=R2/(k-1)(1-R2)/(n-k) * Step 3: Level of significance: ? = 5% * Step 4: Decision rule Reject H0 if f-stat;fc(? ,k-1,n-k)=fc(0. 05,4,6)=4. 53 * Step 5: F-stat value f-stat=0. 998614/(5-1)(1-0. 998614)/(11-6)=1081. 125;fc=4. 3 * Step 6: C onclusion Reject H0 at ? = 5%. There is enough evidence to conclude that at least one coefficient is different from 0 and the overall model is statistically significant. 5. 2. 3. Test of dropping insignificant variable From the test above, we drew the conclusion that ? 2 is insignificant. Thus, an F-test of dropping the independent variable of Exchange rate from the model will be conducted. The regression results obtained from EView of the new model is: Dependent Variable: CPI| | | Method: Least Squares| | | Date: 05/09/12 Time: 11:07| | | Sample: 2000 2010| | | Included observations: 11| | | | | | | | | | | | Variable| Coefficient| Std. Error| t-Statistic| Prob. | | | | | | | | | | | C| 62. 73309| 3. 386991| 18. 52178| 0. 0000| P| 0. 002123| 0. 000364| 5. 828831| 0. 0006| R| 0. 229613| 0. 041843| 5. 487545| 0. 0009| MS| 2. 22E-05| 3. 29E-06| 6. 758719| 0. 0003| | | | | | | | | | | R-squared| 0. 998555|   Ã‚  Ã‚  Ã‚  Mean dependent var| 137. 9727| Adjusted R-squared| 0. 997935|   Ã‚  Ã‚  Ã‚  S. D. dependent var| 39. 11026| S. E. of regression| 1. 777106|   Ã‚  Ã‚  Ã‚  Akaike info criterion| 4. 263137| Sum squared resid| 22. 10674|   Ã‚  Ã‚  Ã‚  Schwarz criterion| 4. 407826| Log likelihood| -19. 44725|   Ã‚  Ã‚  Ã‚  Hannan-Quinn criter. | 4. 171931| F-statistic| 1612. 50|   Ã‚  Ã‚  Ã‚  Durbin-Watson stat| 2. 175208| Prob(F-statistic)| 0. 000000| | | | | | | | | | | | | | Table [ 6 ]: EView regression result: New model The old model is: CPI=49. 84103+0. 00083? ER+0. 00217? P+0. 236729? R+0. 00002? MS with R2 = 0. 998614 The new model is: CPI=62. 73309+0. 002123? P+0. 229613? R+0. 00002? MS with R2 = 0. 998555 * Step 1: H0: ? 2 = 0 Ha: ? 2 ? 0 * Step 2: F-statistic F*=(R2unrestricted-R2restricted)/Number of dropped regressors(1-R2unrestricted)/(n-k) * Step 3: Level of significance ? = 5% * Step 4: Decision rule Reject H0 if F* ; Fc(? ,No,n-k) = Fc(0. 05,1,11-4) = 5. 59 * Step 5: F* value F*=(0. 98614-0. 998555)/1(1-0. 998614)/(11-4)=0. 29798 * Step 6: Conclusion F* ; Fc Do not reject H0 at ? = 5%. It is statistically reasonable to drop Exchange Rate variable from the model. The new model obtained is:CPI=62. 73309+0. 002123? P+0. 229613? R+0. 00002? MS| 6. Errors and limitation 6. 1. Limitations In spite of the results and discussion mentioned above, our report in general and our model in particular have their limitations that hinder our group to develop the most effective model. First and foremost, in data analysis, we presented a table of 1 dependent variable and 4 independent variables during the period of 2000-2010. In total, we have only collected 11 observations annually and the variables sometimes do not have the similar observations. It is obvious to state that the larger the sample size the higher the probability that our sample statistics get close to the true value or population parameters. For such reason, our small number observations may result in inaccuracy of the model. Furthermore, there exists mutual effects among the independent variables. For instance, the Money supply may have an effect on the Exchange rate. Additionally, the Rice price is also influenced by the Petrol price because petrol is the main energy source for production, etc. Such problems may falsify our results and they will be discussed further in the section of errors and remedies. To conclude, even though limitations exist, the foundation of our model is statistically undeniable. Nevertheless, any new econometric model constructed by us in the future will be designed and eliminated all negative limitations. 6. 2. Errors and remedials 6. 2. 1. Multicollinearity Multicollinearity exists due to some functional the existence of linear relationship among some or all independent variables. Multicollinearity can cause many consequences. For instance, OLS estimators have large variances and covariances, making the estimation with less accuracy. This error can lead to large variances and covariances, making the estimation with less accuracy. In order to detect the existence of multicollinearity, a simple tool of detection which is VIF can be applied. Beforehand, a number of auxiliary regressions that depict the relation ship between the independent variables must be done. Dependent Variable: P| | | Method: Least Squares| | | Date: 05/09/12 Time: 12:23| | | Sample: 2000 2010| | | Included observations: 11| | | | | | | | | | | | | Variable| Coefficient| Std. Error| t-Statistic| Prob. | | | | | | | | | | | C| 2529. 790| 3163. 446| 0. 799695| 0. 4470| R| 28. 45504| 39. 34718| 0. 723179| 0. 4902| MS| 0. 003706| 0. 002908| 1. 274322| 0. 2383| | | | | | | | | | | R-squared| 0. 890213|   Ã‚  Ã‚  Ã‚  Mean dependent var| 10088. 18| Adjusted R-squared| 0. 862766|   Ã‚  Ã‚  Ã‚  S. D. dependent var| 4656. 172| S. E. of regression| 1724. 882|   Ã‚  Ã‚  Ã‚  Akaike info criterion| 17. 97071| Sum squared resid| 23801730|   Ã‚  Ã‚  Ã‚  Schwarz criterion| 18. 07922| Log likelihood| -95. 83888|   Ã‚  Ã‚  Ã‚  Hannan-Quinn criter. | 17. 90230| F-statistic| 32. 43422|   Ã‚  Ã‚  Ã‚  Durbin-Watson stat| 1. 144479| Prob(F-statistic)| 0. 00145| | | | | | | | | | | | | | Table [ 7 ]: EView regression result: P-R,MS VIFP=11-R2P,R,MS=11-0. 890213=9. 10855;10 Dependent Variable: R| | | Method: Least Squares| | | Date: 05/09/12 Time: 13:11| | | Sample: 2000 2010| | | Included observations: 11| | | | | | | | | | | | | Variable| Coefficient| Std. Error| t-S tatistic| Prob. | | | | | | | | | | | C| 67. 25990| 15. 92311| 4. 224043| 0. 0029| P| 0. 002156| 0. 002982| 0. 723179| 0. 4902| MS| 5. 93E-05| 1. 82E-05| 3. 250317| 0. 0117| | | | | | | | | | | R-squared| 0. 943086|   Ã‚  Ã‚  Ã‚  Mean dependent var| 144. 2364| Adjusted R-squared| 0. 928858|   Ã‚  Ã‚  Ã‚  S. D. ependent var| 56. 29715| S. E. of regression| 15. 01585|   Ã‚  Ã‚  Ã‚  Akaike info criterion| 8. 483090| Sum squared resid| 1803. 805|   Ã‚  Ã‚  Ã‚  Schwarz criterion| 8. 591607| Log likelihood| -43. 65699|   Ã‚  Ã‚  Ã‚  Hannan-Quinn criter. | 8. 414685| F-statistic| 66. 28185|   Ã‚  Ã‚  Ã‚  Durbin-Watson stat| 1. 625481| Prob(F-statistic)| 0. 000010| | | | | | | | | | | | | | Table [ 8 ]: EView regression result: R-P,MS VIFR=11-R2R,P,MS=11-0. 943086=17. 57047;10 Dependent Variable: MS| | | Method: Least Squares| | | Date: 05/09/12 Time: 13:13| | | Sample: 2000 2010| | | Included observations: 11| | | | | | | | | | | | | Variable| Coefficient| Std. Error| t-Statistic| Prob. | | | | | | | | | | | C| -912567. 0| 169274. 2| -5. 391058| 0. 0007| P| 45. 52633| 35. 72593| 1. 274322| 0. 2383| R| 9603. 994| 2954. 787| 3. 250317| 0. 0117| | | | | | | | | | | R-squared| 0. 949597|   Ã‚  Ã‚  Ã‚  Mean dependent var| 931956. 0| Adjusted R-squared| 0. 936996|   Ã‚  Ã‚  Ã‚  S. D. dependent var| 761613. 1| S. E. of regression| 191169. 4|   Ã‚  Ã‚  Ã‚  Akaike info criterion| 27. 38671| Sum squared resid| 2. 92E+11|   Ã‚  Ã‚  Ã‚  Schwarz criterion| 27. 49522| Log likelihood| -147. 6269|   Ã‚  Ã‚  Ã‚  Hannan-Quinn criter. | 27. 31830| F-statistic| 75. 36010|   Ã‚  Ã‚  Ã‚  Durbin-Watson stat| 2. 509023| Prob(F-statistic)| 0. 00006| | | | | | | | | | | | | | Table [ 9 ]: EView regression result: MS-P,R VIFMS=11-R2MS,P,R=11-0. 949597=19. 84009;10 From the results above, we see that VIFP ; 10 whereas VIFR, VIFMS ; 10. Thus multicollinearity does not exist for Petrol variable, while multicollinearity exists for Rice and Money Supply variab les. This can be explained by the fact that Petrol price is not influenced by other factors whilst Rice and Money Supply are influenced by Petrol price, as petrol is one of the main sources of energy for production of other goods and services. In general, multicollinearity does exist in the model. Nevertheless, the sole purpose of our research is for prediction and forecasting the inflation level of Vietnam based on CPI and the factors affecting CPI. Therefore, multicollinearity is not a serious issue for our research and we decided to take no action to fix the problem. 6. 2. 2. Heteroskedasticity Heteroskedasticity makes economic models violate one assumption which is homoskedasticity of equal variance of error terms. Heteroskedasticity causes ordinary least squares estimates of the variance (and, thus, standard errors) of the coefficients to be biased, possibly above or below the true or population variance. As the consequence, biased standard error estimation can lead to both type I error (reject the true hypothesis) and type II error (do not reject false hypothesis). To detect the heteroskedasticity, there are a number of methods that can be applied. Among them, we chose White’s Heteroskedasticity Test (without cross terms) to detect the existence of heteroskedasticity. * Step 1: H0: Homoskedasticity. Ha: Heteroskedasticity. * Step 2: Run the OLS on regression to obtain residual ui Run the auxiliary regression to get the new model u2=? 1+? 2X2i+†¦ + ? qXqi+? q-1X22i+†¦ +? 2q-1X2qi+vi H0:? 2=? 3=†¦ = ? q W-statistic: W=n? R2(R2 of the new model) * Step 3: Level of significance ? = 5% * Step 4: Decision rule Reject H0 if W? 2? ,df=? 20. 05,6=12. 5916 * Step 5: W-statistic value From the results of EView, we have White Heteroskedasticity Test:| F-statistic| 0. 609507| Probability| 0. 720319| Obs*R-squared| 5. 253654| Probability| 0. 511716| | | | | | Test Equation:| Dependent Variable: RESID^2| Method: Least Squares| Date: 05/09/12 Time: 19:52| Sample: 2000 2010| Included observations: 11| Variable| Coefficient| Std. Error| t-Statistic| Prob. | C| -51. 06331| 66. 56641| -0. 767103| 0. 4858| P| -0. 003894| 0. 005892| -0. 60928| 0. 5448| P^2| 1. 82E-07| 3. 29E-07| 0. 552995| 0. 6097| R| 1. 041681| 1. 113821| 0. 935232| 0. 4026| R^2| -0. 003233| 0. 003599| -0. 898302| 0. 4198| MS| -1. 70E-05| 3. 45E-05| -0. 490921| 0. 6492| MS^2| 8. 86E-12| 1. 31E-11| 0. 676092| 0. 5361| R-squared| 0. 477605| Mean dependent var| 2. 009703| Adjusted R-squared| -0. 305988| S. D. dependent var| 3. 115326| S. E. of regression| 3. 560188| Akaike info criterion| 5. 638630| Sum squared resid| 50. 69977| Schwarz criterion| 5. 891836| Log likelihood| -24. 01247| F-statistic| 0. 609507| Durbin-Watson stat| 2. 651900| Prob(F-statistic)| 0. 20319| Table [ 10 ]: EView White Heteroskedasticity Test (without cross terms) W=n? R2=5. 25365412. 5916 * Step 6: Conclusion Do not reject H0 at ? = 5%. There is not enough evidence to prove that there exists heteroskedasticity in the model. 6. 2. 3. Autocorrelation Autocorrelation is defined as correlation between members of series of observations ordered in time [as in time series data] or space [as in cross-sectional data]. Among various way to detect whether the model has autocorrelation or not, we use Durbin-Watson test to test first order autocorrelation and Breusch-Godfrey test to test higher order autocorrelation. . Durbin-Watson test Dependent Variable: CPI| | | Method: Least Squares| | | Date: 05/09/12 Time: 11:07| | | Sample: 2000 2010| | | Included observations: 11| | | | | | | | | | | | | Variable| Coefficient| Std. Error| t-Statistic| Prob. | | | | | | | | | | | C| 62. 73309| 3. 386991| 18. 52178| 0. 0000| P| 0. 002123| 0. 000364| 5. 828831| 0. 0006| R| 0. 229613| 0. 041843| 5. 487545| 0. 0009| MS| 2. 22E-05| 3. 29E-06| 6. 758719| 0. 0003| | | | | | | | | | | R-squared| 0. 998555|   Ã‚  Ã‚  Ã‚  Mean dependent var| 137. 9727| Adjusted R-squared| 0. 997935|   Ã‚  Ã‚  Ã‚  S. D. dependent var| 39. 11026| S. E. of regression| 1. 77106|   Ã‚  Ã‚  Ã‚  Akaike info criterion| 4. 263137| Sum squared resid| 22. 10674|   Ã‚  Ã‚  Ã‚  Schwarz criterion| 4. 407826| Log likelihood| -19. 44725|   Ã‚  Ã‚  Ã‚  Hannan-Quinn criter. | 4. 171931| F-statistic| 1612. 150|   Ã‚  Ã‚  Ã‚  Durbin-Watson stat| 2. 175208| Prob(F-statistic)| 0. 000000| | | | | | | | | | | | | | Table [ 11 ]: EView regression result: Durbin-Watson statistic * Step 1: Identify Ho and Ha: Ho: ? =0. No first order autocorrelation Ha: 0. Two-tailed test for first order autocorr elation either positive or negative one * Step 2: Test statistic: D – statistic * Step 3: Significance level: ? = 5% * Step 4: Decision rule d dL or d 4 – dU: Reject H0 * dU d 4 – dU: Do not reject H0 * dL ? d ? dU or 4 – dU ? d ? 4 – dL: Inconclusive k’ = 3, df = 11. dL = 0. 595;dU = 1. 928 * Step 5: D-statistic value From EView table, we have D-statistic = 2. 175208 * Step 6: Conclusion We have 4 – dU = 4 – 1. 928 = 2. 072 4 – dL = 4 – 0. 595 = 3. 405 4 – dU ? d ? 4 – dL. There is not enough evidence to conclude whether first-order autocorrelation exists or not. b. Breusch-Godfrey test Breusch-Godfrey Serial Correlation LM Test:| | | | | | | | | | | | F-statistic| 0. 399592|   Ã‚  Ã‚  Ã‚  Prob. F(2,5)| 0. 6903| Obs*R-squared| 1. 515907|   Ã‚  Ã‚  Ã‚  Prob. Chi-Square(2)| 0. 4686| | | | | | | | | | | | | | | | Test Equation:| | | | Dependent Variable: RESID| | | Method: Least Squares| | | Date: 05/09/12 Time: 14:40| | | Sample: 2000 2010| | | Included observations: 11| | | Presample missing value lagged residuals set to zero. | | | | | | | | | | | Variable| Coefficient| Std. Error| t-Statistic| Prob. | | | | | | | | | | | C| 0. 366991| 3. 997023| 0. 091816| 0. 9304| P| 0. 000262| 0. 000749| 0. 349805| 0. 7407| R| -0. 020687| 0. 052521| -0. 393881| 0. 7099| MS| -1. 21E-07| 4. 84E-06| -0. 025029| 0. 9810| RESID(-1)| -0. 121687| 0. 700832| -0. 173632| 0. 8690| RESID(-2)| -0. 759777| 1. 305304| -0. 582069| 0. 5858| | | | | | | | | | | R-squared| 0. 137810|   Ã‚  Ã‚  Ã‚  Mean dependent var| -5. 51E-15| Adjusted R-squared| -0. 724381|   Ã‚  Ã‚  Ã‚  S. D. dependent var| 1. 486833| S. E. of regression| 1. 952445|   Ã‚  Ã‚  Ã‚  Akaike info criterion| 4. 478494| Sum squared resid| 19. 06021|   Ã‚  Ã‚  Ã‚  Schwarz criterion| 4. 695528| Log likelihood| -18. 63172|   Ã‚  Ã‚  Ã‚  Hannan-Quinn criter. | 4. 341685| F-statistic| 0. 159837|   Ã‚  Ã‚  Ã‚  Durbin-Watson stat| 1. 950970| Prob(F-statistic)| 0. 967201| | | | | | | | | | | | | | Table [ 12 ]: Breusch-Godfrey Serial Correlation LM test: Lags 2 * Step 1: Identify Ho and Ha: Ho: No second order autocorrelation Ha: Second order autocorrelation * Step 2: Test statistic: BG – statistic = (n – p)* R2 (p = df = number of degree of order = 2) * Step 3: Significance level: ? = 5% * Step 4: Decision rule: Reject H0 if BG; ,p2=? 0. 05,22=5. 99174 * Step 5: BG-statistic value From EView table, we have BG = (11-2)*R2 = 9*0. 137810 = 1. 24029 ; 5. 99174 * Step 6: Conclusion Do not reject H0 at ? = 5%. There is not enough evidence to infer the existence of second-order autocorrelation. In addition, we also notice that the p-value of first-order is greater than 0. 5, thus the first-order autocorrelation does not exist either. To sum up, there is no autocorrelation error in the model. 7. Conclusion After thoroughly investigating models and their significant, it can be inferred that the best appropriate model, which can well explain the relationship between CPI and affecting factors, is the following one: CPI=49. 84103+0. 00083? ER+0. 00217? P+0. 236729? R +0. 00002? MS Basing on the analysis, the model is proved to rather make sense as the fact that three independent variables, including petrol price, rice price and money supply, apparently affect Vietnam’s CPI. After testing, the USD/VND exchange rate, nevertheless, is clearly insignificant. Consequently, the exchange rate is reasonably dropped out of the model. Moreover, all independent variables have positive relationship with CPI since the increase of any variables may result in growth of CPI. Besides the effectiveness and meaningfulness of the model, errors and limitation still exist. Multicollinearity is found out to be the considered issue, however, it is truly difficult to have any suitable remedial. And, two rest errors including heteroscedasticity and autocorrelation are shown not to exist. It is the fact that the model is unavoidable to some errors and limitations, but these problems seem trivial and slight. From above analyzed data, the independent variables present a common trend of increasing, which leads to tendency of CPI to rise as well. Therefore, we insist that the CPI for the next years will boost. Despite Vietnamese government’s important efforts to refrain the inflation rate, it is still essentially prone to escalate as a result of inevitable trend. Appendix Data of CPI, Exchange rate, Petrol price, Rice price and Money supply from 2000 to 2010 Year| CPI| Exchange Rate| Petrol price| Rice price| Money supply (VND billion)| 2000| 100| 14,170. 23| 5400| 100| 196,994. 00| 2001| 102| 14,816. 76| 5400| 101| 250,846. 00| 2002| 104. 3| 15,346. 00| 5400| 101. 5| 284,144. 00| 2003| 107. 6| 15,475. 99| 5600| 100. 6| 378,060. 00| 2004| 115. 9| 15,704. 13| 7000| 114. 8| 495,447. 00| 2005| 125. 5| 15,816. 69| 10000| 118. 6| 648,574. 00| 2006| 134. 9| 15,963. 81| 12000| 122. 5| 841,011. 00| 2007| 146. 3| 16,126. 20| 11300| 142| 1,254,000. 00| 2008| 179. 6| 16,303. 54| 16320| 215. 2| 1,513,540. 00| 2009| 192| 17,066. 34| 15700| 218. 6| 1,910,590. 00| 2010| 209. | 18,620. 84| 16850| 251. 8| 2,478,310. 00| References BBC, 2007. Vietnam’s WTO membership begins. Available online at URL: http://news. bbc. co. uk/2/hi/business/6249705. stm (Accessed May 4, 2012) Binh, N. V. 2009. Di? u hanh chinh sach t? gia nam 2008 va phuong hu? ng nam 2009. Available online at URL: http://luattaichinh. wordpress. com/2009/02/26/di%E1%BB%81u-hanh-chinh -sach-t%E1%BB%B7-gia-nam-2008-va-ph%C6%B0%C6%A1ng-h%C6%B0%E1%BB%9Bng-nam-2009/ (Accessed May 4, 2012) General Statistics Office of Vietnam, 2012. Trade, Price and Tourism statistical data. Available online at URL: http://www. so. gov. vn/default_en. aspx? tabid=472idmid=3 (Accessed May 4, 2012) Gujarati, D. N. , 2003. Basic Econometrics – 4th edition. McGraw-Hill Higher Education. Indexmundi, 2011. Vietnam – money and quasi money. Available online at URL: http://www. indexmundi. com/facts/vietnam/money-and-quasi-money (Accessed April 26, 2012) Phuoc, T. V. Long, T. H. , 2010. Ch? s? gia tieu dung Vi? t Nam va cac y? u t? tac d? ng. Vietcombank, 2002. T? gia VND/USD ti? p t? c ? n d? nh tuong d? i. Available online at URL: http://www. vietcombank. com. vn/News/Vcb_News. aspx? ID=1489 (Accessed May 3, 2012) How to cite Econometrics – Vietnam Cpi, Papers

Mother Teresa (1659 words) Essay Example For Students

Mother Teresa (1659 words) Essay Mother TeresaMother Teresa is a gift from God that has been sent down on Earth to help people who needs her help. She is a well known person throughout the world for devoting her life in helping the poor, the homeless, the sick, and the dying. Her faith in loving, serving, and respecting those who are poor and deprived gives us powerful lessons to treat our fellow human beings with love and respect. Agnes Gonxha Bojaxhiu was born on August 27, 1910 in a Macedonian town of Skopje. Her parents baptized Agnes as a Christian. She was the youngest of the three. Her older sister Aga, was five years old and her older brother Lazar, was two years old. Agnes father died after he collapsed and was brought to the hospital. But her mother managed to keep the family together by starting a small embroidery business. Although Anges mother had a little business and a family to take of she still had time to help the local poor. Agnes would accompany her mother on her visits to the sick, the elderly, and the lonely. From a very early age, Agnes exhibited a tenderness for those who were less fortunate than she. In that free time she would also go to the church of the Sacred Heart in Skpoje, organizing prayer groups and arranging special observances. Agnes enjoys saying her prayers on her own and often could be found kneeling in church when no one else was there ( Clucas, 1988 ). Agnes became very flushed with her mothers personal faith and desire to serve God in a practical, helpful way. And from her mother it gave Agnes a lasting impression for helping and serving the Lord. Agnes attended a nonCathlolic government school. At the age of twelve she became interested in religion. She amazed the church meeting by pinpointing the exact location and the work done by each mission, on the map of the world ( Leigh, 1986 ). Around the age of fourteen she began to think that not only would she become a nun, but that she would join an order of missionaries. During her senior year of highschool, she began to seriously consider the possibility dedicating her life to God. When Agnes prayed for guidance, she believed that God was calling her to go to the mission in India and she decided that she will go. This was her response, ? I decided to leave my home and become a nun, and since then Ive never doubted that Ive done the right thing. It was the will of God. It was his choice ? ( Clucas, 1988 ). Agnes was off to Abbey in Dublin, Ireland. The reason for her to go their was to learn English, the language they would teach school children in India. But the mostimportant thing she learned was silence. There was to be silence at the dining table while one of the sisters read aloud from the Bible or another book. And then, from bedtime to morning, came the ? Great Silence. ? Not a word was to be spoken until the girls preparing to be nuns would awake and come together to hear Mass and take Communion. ( Jacobs, 1991 ). In Ireland, was the place that Agnes changed her name to Teresa. She chose that name in honor of the French saint, Therese of Lisieux, known as the Little Flower of Jesus ( Leigh, 1986 ). In January, 1929, Agnes finally arrived in India. By then she finally got used to her ne w name Teresa. Then two years later, she took her first vows as a Sister of Loreto. She pledged herself to a life of poverty, purity, and obedience. As Sister Teresa, she began to teach and help the nurses at a small medical station in northern India. Next, she was assigned to teach at the Loreto convent school in a section of Calcutta. In May, 1937, Sister Teresa took her final vows. Soon afterward the Head ( principal ) of the school retired, and Teresa took her place as Head, becoming for the first time ? Mother Teresa. ? She should have been happy. Yet, as she looked around her, she could not avoid seeing Calcuttas poor. She began to pray that, somehow, she could do more to help those who suffered so much. From Skopje, her mother, Drana, encouraged her, reminding her why she had gone to India in the first place-? to help the poorest of the poor.? (Jacobs, 1991 ). .ub0f86b5521ee9a05668abfac10c98804 , .ub0f86b5521ee9a05668abfac10c98804 .postImageUrl , .ub0f86b5521ee9a05668abfac10c98804 .centered-text-area { min-height: 80px; position: relative; } .ub0f86b5521ee9a05668abfac10c98804 , .ub0f86b5521ee9a05668abfac10c98804:hover , .ub0f86b5521ee9a05668abfac10c98804:visited , .ub0f86b5521ee9a05668abfac10c98804:active { border:0!important; } .ub0f86b5521ee9a05668abfac10c98804 .clearfix:after { content: ""; display: table; clear: both; } .ub0f86b5521ee9a05668abfac10c98804 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ub0f86b5521ee9a05668abfac10c98804:active , .ub0f86b5521ee9a05668abfac10c98804:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ub0f86b5521ee9a05668abfac10c98804 .centered-text-area { width: 100%; position: relative ; } .ub0f86b5521ee9a05668abfac10c98804 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ub0f86b5521ee9a05668abfac10c98804 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ub0f86b5521ee9a05668abfac10c98804 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ub0f86b5521ee9a05668abfac10c98804:hover .ctaButton { background-color: #34495E!important; } .ub0f86b5521ee9a05668abfac10c98804 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ub0f86b5521ee9a05668abfac10c98804 .ub0f86b5521ee9a05668abfac10c98804-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ub0f86b5521ee9a05668abfac10c98804:after { content: ""; display: block; clear: both; } READ: Marco Polo EssayOn September 10, 1946, while traveling by train for her annual retreat, something happened. Mother Teresa heard the voice of God. She refers to it: ? And when it happens the only thing to do is to say ?yes. The message was quite clear-I was to give up all and follow Jesus into the slims-to serve Him in the poorest of the poor. I knew it was His will and that I had to follow Him. There was no doubt that it was to be His work. I was to leave the convent and to work with the poor, living among them. It was an order. I knew where I belonged but I did not know how to get there. ? ( Teresa, 1995 )To start her own order of sisters, first she had to ask permission for her supervisors to leave. At first, the authorities wouldnt let her do this but Mother Teresa prayed and finally her request was granted. To her it almost seemed a miracle. On August 16, 1948, she was prepared to leave the convent. She put on regular clothes and sandals and stepped outside into the streets of the slum, alone. For three months she studied medicine with the Medical Missionary Sisters at Patna. She learned to do many things. She learned how to give injections, how to set broken bones, and how to deliver a baby. Just before Christmas, 1948, Mother Teresa returned to Calcutta. She had no place to live and carried only five rupees-less than one US dollar. The Little Sisters of the Poor, an order whose mission was to care for the elderly poor, agreed to let her live with them. She helped the sisters for guidance and her own mission in life. Then once again she began to walk the streets of the slum. After walking around for about an hour, with five children by her side, she sat down in an open space beneath a tree. She started to write the Bengali alphabet in the dirt with a stick. Curious, other children joined her. Soon there were thirty or forty. Everyday she taught the children in her outdoor school. And during the afternoon she gave them containers of milk. And during the evening she would go out and look for elderly people who needs her help. This is her prayer for Gods help:You, Lord, only You, all of You. Make use of me. You made me leave my convent where I was at least of some use. Now guide me, as You wish. ( Jacobs, 1991 )Her work seem edendless. Many people would follow her in the streets. They bent down on there knees begging for food. And most of them would kiss her feet, hoping for help. But she kept on working. And refused to return to the peaceful life of Loreto. Soon she found others by her side trying to help her. Many sisters joined her. In 1950, Mother Teres a applied to Rome, asking official recognition for her new order of nuns. And couple of months later a letter of approval came, establishing the Order of the Missionaries of Charity. By this time there were twelve sisters. There daily life would be to wake up in the morning at 4:40 a.m. and immediately went to chapel for prayer. For breakfast they ate a simple Indian flat bread. From 8 a.m. to 12:30 they served the poor. Following lunch came meditation and prayer and then service to the poor again until 7:30 p.m. Supper was followed by evening prayers at 9:00 and bed at 9:45. In 1952, Mother Teresa gained permission from the city officials to use the back rooms of a former temple as a place to shelter the dying. She and the other sisters would carry people there, so that at least they could die with some dignity. (Jacobs, 1991). .ub9823264024a673be023b82f9cadb023 , .ub9823264024a673be023b82f9cadb023 .postImageUrl , .ub9823264024a673be023b82f9cadb023 .centered-text-area { min-height: 80px; position: relative; } .ub9823264024a673be023b82f9cadb023 , .ub9823264024a673be023b82f9cadb023:hover , .ub9823264024a673be023b82f9cadb023:visited , .ub9823264024a673be023b82f9cadb023:active { border:0!important; } .ub9823264024a673be023b82f9cadb023 .clearfix:after { content: ""; display: table; clear: both; } .ub9823264024a673be023b82f9cadb023 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ub9823264024a673be023b82f9cadb023:active , .ub9823264024a673be023b82f9cadb023:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ub9823264024a673be023b82f9cadb023 .centered-text-area { width: 100%; position: relative ; } .ub9823264024a673be023b82f9cadb023 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ub9823264024a673be023b82f9cadb023 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ub9823264024a673be023b82f9cadb023 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ub9823264024a673be023b82f9cadb023:hover .ctaButton { background-color: #34495E!important; } .ub9823264024a673be023b82f9cadb023 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ub9823264024a673be023b82f9cadb023 .ub9823264024a673be023b82f9cadb023-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ub9823264024a673be023b82f9cadb023:after { content: ""; display: block; clear: both; } READ: Police Brutality and Community Relations EssayAs Mother Teresa said, ? A beautiful death is, for people who have lived like animals, to die like angels-loved and wanted.? (Jacobs,1991). By 1953 the Missionaries of Charity had moved on to larger quarters. New sisters joined the community. As word of their kindly deeds spread, gifts of money and goods began to arrive form the outside. In 1955, Mother Teresa opened Shishu Bhavan, a homecare for children. Many children came to this place to help from Mother Teresa and her nuns. After two or three weeks of care the children would be well enough to put a smile on their face. In 1957, Mother Teresa opened Shanti Nagar (leper town) a secluded place where lepers-even those who had lost fingers or hands-could learn a trade and support themselves. Soon the fame of Mother Teresa and her nuns began to spread. Many volunteers wanted to help in her work. Soon she expanded her work and opened new houses to help the poor in other countries. By 1990 there were four hundred thirty homes in the ninety five countries around the world. Mother Teresa traveled from continent to continent. At first, paying for the airfare proved troublesome, since she had no money of her own. Once she even asked if she could pay her way by working as a stewardess. Hearing of the amazing request, BibliographyBIBLIOGRAPHYClucas, Joan Graff. Mother Teresa. New York: Chelsea House Publishers, 1988. Jacobs, William Jay. Mother Teresa. Connecticut: William Jay Jacobs, 1991. Leigh, Vanora. Mother Teresa. New York: Bookwright Press, 1986. Vardey, Lucinda. Mother Teresa. New York: Ballantine Books, 1995. History Essays

Logistics and Coca Cola Company free essay sample

The cost of a company might low when the company is doing well in this two important department. Transportation is the way that a company use for the purpose to shift or carry their goods or product from a place to another place. Warehousing is a place for company to store their good and stuff. Besides, there will be inbound and outbound for the transportation and warehousing. For transportation, the inbound is meaning that the goods or partly goods are send to the company/ warehouse from other place. Inversely, the outbound is meaning that the goods are send to the retailer or the outlets from company. (Genco. com, 2014) For warehousing, the inbound and outbound is considering as a flow in and flow out of product in the warehouse. (Msdn. microsoft. com, 2014) (Msdn. microsoft. com, 2014) There are various type of transportation such as sea, air, rail, road and pipeline. There will be different cost for different type of transportation. We will write a custom essay sample on Logistics and Coca Cola Company or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Therefore, choosing a right transportation for deliver the company goods will lower the cost of the company and there will be opposite if the company choose the wrong transportation. For example, the company should concern on the speed by choose the air transportation when transport the fresh fruit because the other transportation might not be quick enough and may cause the fresh fruit turn into bad condition. The company should choose the transportation mode depends on the size and weight of the product, time consume, cost, value of product and distance. For instance, the company can decide to handle the logistic by itself of outsource the work to a freight forwarder/ 3rd party logistic. Moreover, there will be three type of warehousing setup. First, all the product will store or put in a place and only distributed to the outlet or client when they need which is called centralized. Second, some of the product might store in more than one warehouse which is called decentralized. Third, the company might choose to use 3rd part logistics warehousing rather than build and own a warehouse. Choosing the right warehousing setup will minimize the cost of a company. For example, an importer will choose the 3rd party logistic warehousing to store his product for temporary because its product will not store for a long period and the cost is depends on how long the company store its product in the 3rd party logistic warehousing. According to the article, the warehouse is playing a new role that no longer just for storage and it is involve in cost conscious and efficiency-driven environment. (Inboundlogistics. om, 2014) In short, the inbound of transportation and warehousing is the relationship between the raw material supplier and the manufacturer; the outbound of transportation and warehousing is the relationship between the manufacturer and the respective outlet/client. 2. 0 Literature reviews The successful management of a small logistics company In this paper, there is discuss a case about a small 3rd party logistics company in Hong Kong and the company is interesting in that it has been designated as the â€Å"king† of Hong Kong’s 3rd party logistics companies. Besides, the company has been successful in its overall business performance and it also satisfies its customers. This company’s strategic alliances with both clients and customers have helped to improve the utilization of its resources, such as warehouse space and transportation ? eets. Moreover, the company wants to become a full-pledged 3rd party logistic company and it also in the process of expanding its operations across greater China. The analysis of this case is focuses on the important success factors about the strategies and technologies that have allowed a small company started only in 1996 to become so successful in its operations. In short, a framework has been provided for the company to develop its logistics operations as a full-pledged 3rd party logistic company. (Gunasekaran and Ngai, 2003, pp. 825-842) Third-party logistics in Europe – five years later This journal is discuss the results of a survey between shippers in several European countries involved in outsourcing their transport, warehousing and other logistics activities. The survey is made by more than one reserchers which is the universities of Cranfield, Eindhoven, Linkoping and Rotterdam (Erasmus) and of ManDat GmbH. Besides, the survey is about the characteristics of logistics partnerships and the benefit for a shipper by using the 3rd party logistic company. There are two major observations found in the survey which is the scope and level of sophistication of the partnerships has increased over the last five years and the perception of outsourcing by shippers has not changed over the last five years. Laarhoven and Berglund et al. , 2000, pp. 425-442) Success factors and cost management strategies for logistics outsourcing According to the journal, the logistics outsourcing has a significant effect on how manufacturing firms produce and deliver the products to their customers. In addition, many manufacturing firms do not own or manage the transportation and warehousing resources used for inbound and outbound shipments due to the reason that the company might need to invest a big amount of funds to own a warehouse and transportation. In short, a company can use the money for other purpose that is profit to the company rather than use the fund to own a warehousing and transportation and the company business might efficiency and reduce in cost by outsourced the warehousing and transportation to the 3rd party logistic company. (George and Mary, n. d, pp1-17) Transportation Reduce total purchase cost by 5% through inbound freight management This journal is discusses the strategies and opportunities of reducing to the total cost of purchase by 5% or more through managing inbound freight transportation. An overall of the transportation management strategic is use to identify how and why the concept is beneficial to the strategic purchasing activities of a firm. The journal had provide more on understanding the key transportation concepts such as weight makes for a better rate, consolidate providers, increase information equal to reduce cost and it also pinpointing specific opportunities to effectively on the purchasing inbound transportation services. In short, applying the inbound freight management is based on the company informational needs and the potential of traps. Dr. M. Theodore Farris II, n. d) Cost Saving for Inbound Freight In the journal, there will be a number of issues that relate to determine whether the products should be ordered independently and ship as a single product order, or co-ordinated and shipped as a group or order from a single source. Besides, there is also some factors that might influences the company decisions such as the volume of demand, the distribution of demand across products, the weight of items and the attractiveness of the quantity discount offered. Other than that, the effect of the company decision in the aspect of logistic might influence the cost of the company such as the order interval, whether the product order should in group or separately and etc. (Russell and Cooper, 1992, pp. 20-43) The role of transportation in logistic chain In the journal, it is more discuss and focus on the transportation system and the inter relationship between the logistics and transportation. Transportation is playing an important role in the manipulation of logistic. Besides, the operation of transportation will determines the efficiency of moving products from a place to another place. The progress in technique and management principles will improves the moving load, delivery speed, services quality, operation costs, the usage of facilities and the energy saving. (Screenivas and Srinivas, n. d) Warehousing Centralization VS decentralization of warehousing In this paper, that is more on discuss about the perspective of a small and medium size enterprise when they are decide whether to choose the centralized or decentralized warehousing location for their aspect in logistic. A medium company in Danish which is Do-it-yourself (DIY) had been chosen for the purpose to investigate the issue. The company faces the challenge whether to apply centralization or decentralization warehousing structure in its company. Furthermore, a company must choose the warehousing structure based on the company needs and do some research whether the centralized or decentralized warehousing location is suit for the company and is that will improve the efficiency and reduce the cost of company. (Pedersen and Zachariassen et al. , 2012, pp. 352-369) The impact of routing and storage policies on warehouse efficiency The activity such as order and picking by which a number of goods are retrieved from a warehousing system to satisfy a number of customer orders and it is an essential link in the supply chain. Besides, it is the major cost component of warehousing. The major issue is to reduce the cost and increase the speed of the order picking activity at the same time. Moreover, there are few purposes of this paper. First, evaluating various routing heuristics and an optimal routine in a volume based. Second, comparing the performance of volume based storage with the random storage. Third, examining the impact of travel speed and picking rates on routing and storage policy performance. Furthermore, the experimental results show the solution gap between routing heuristics and optimal routing is highly dependent on the travel speed and picking rate, the storage policy, and the size of the pick list. In addition, volume based storage produced significant savings over random storage, but again these savings are dependent on the travel speed and picking rate. (II, 1999, pp. 053-1064) Recent Trends in Warehousing Development There are more discuss about the recent trend in warehousing development in this journal. The growth of technology is faster and it changing every year. An up-to-date company in warehousing might gain the competitive advantage in the market place by purchase the new and more feature machine for warehousing. Besides, those companies might not perform well in its business if it fail to realize the changes of the warehousing due to the reason that the company logistic might not efficiency and effect the overall business. Mckinnon, 1987, pp. 8-11) RFID adoption and implementation in warehousing The journal is more discuss on the RFID adoption and implementation in warehousing. From the journal, we know that the warehousing industry is changing with the respect to RFID implementation. By adopt the RFID into the company logistic, it might improve the business process of the company and cost reduction. For those companies who concern on the return on investment (ROI) might refuse to adopt the RFID in the warehousing if the ROI is less than the expectation. Osyk and Vijayaraman et al. , 2012, pp. 904-926) 3. 0 Background of the Organization (Coca Cola Company) Coca Cola Company is an American multinational beverage corporation which is located in Atlanta, Georgia and it also the world’s largest beverage company. Besides, it serves consumers in more than 200 countries. (Brainmass. com, 2014) Pepsi’s company is the one of the bigger competitor to Coca Cola Company. Coca Cola Company also own some brand such as Minute Maid and Thums Up. For instance, Coca Cola not only produce the beverage of coke r coca cola, it also produces other soft drinks such as Fanta, Sprite, Powerade (sports beverage), Nesta, Fruitopia and etc. Since the consumer is more concern on healthy beverages, the Coca Cola company start produces some new formula coke and other beverage in order to gain the competitive advantage in the global market like diet coke and sports beverage (Powerade). (Oracle. com, 2014) The Coca Cola Company only produces the syrup and sold to the various bottlers who hold a Coca Cola franchise in the world. (Oracle. om, 2014) The Coca Cola bottlers will produce the finished good in cans and bottles with the combination of filter water and sweeteners. After that, the bottlers will sell or distribute the finished Coca Cola product to the retail stores, restaurants, hypermarket and etc. (Computer Sciences Corporation, 2014) Furthermore, Coca Cola Company also owns a film company before which is the Columbia Pictures. When the time that the Film Company still own by the Coca Cola Company, it produce some popular films such as Ghostbusters, the karate kid and others. The Columbia Pictures was owned by the Sony Pictures Entertainment in 1987. (Oracle. com, 2014) Other than that, Coca Cola is a well-known sponsorship in the sports and other events/competition such as the English Football League, NBA, FIFA World Cups, American Idol and etc. Coca Cola Company can increase it company goodwill and gain the awareness from public by sponsor on the famous event. (Oracle. com, 2014) Moreover, Coca Cola also involve itself in the corporation social responsibility (CSR) by donates money for charity. Besides, it also does well in environment friendly by using the trucks which is lower exhaust emissions. Coca Cola Company also involve itself to fight the aids by provide the job opportunities to the aids patient. (Investors and Company et al. , 2014) 4. 0 Description 4. 1 Description of the transportation Transportation is playing an important role in the International Trade. Choosing the right mode of transportation is important to ensure the company import and export operation is efficient and cost effective. (Gov. k, 2014) Coca Cola Company transports its product by using various type of transportation mode such as sea, air, rail and road. According to the research, Coca Cola Company also hires more than one 3rd party logistic for the transportation aspect such as Oracle Transportation Management and ORTEC. (Oracle. com, 2014) (Ortec. com, 2014) Road: Road transport can be the most flexible option for the business. The road transport have extensive road network for company to deliver the product and the company also can scheduled the delivery day. Besides, the company also can choose the transport that suit to transport the product and it also can track the location of goods. In America, Coca Cola Company use the Interstate Highway System to transport product across the America by using the Coca Cola trucks and made deliveries to place everywhere. (Slideshare. net, 2014) According to the internet sources, Coca Cola transport most of their product on the road. Therefore, the company does its best to reduce the harmful to the environment. Coca Cola Company bought Biomethane-powered truck to move its product and each of the vehicle carbon footprints is less compare to the typical diesel truck. (Biomethane is the gas derived from waste found at landfill sites) (Coca-Cola GB, 2014) Besides, Coca Cola Company will use smaller vehicles to move the small loads such as use the Nissan Leaf 100% electric cars and low-emission Vauxhall Astra ecoFLEX cars. In Addition, the company also purchases those trucks with the specified EEV (enhanced environmentally-friendly vehicle) status which means the truck is lower exhaust emissions. Coca-Cola GB, 2014) Air: Air Transportation is the fastest transportation to transport the product between two different countries and it also high in cost. Coca Cola Company also use Hartsfield Jackson International Airport to transport it’s good to another country. (Slideshare. net, 2014) Sea: Sea transportation can transport large quantities of product to another place or country compare to Air transportation. Besides, a company can ship large volume of product at one time at a low costs but it might take a long time than other transportation. Besides, the shipping containers can also be used for further transportation in the destination such as by road or rail transportation. The company should concern on the document when choosing the sea transportation such as bill of lading, letter of credit and etc. Coca Cola Company use the Deepwater Ports to ship cargo filled with the Coca Cola products to other countries. (Slideshare. net, 2014) Rail: Rail transport is may consider is a cost effective and efficient way to move the company goods from a place to another place. There will be benefit for those nations which have fast rail links such as the Europe, Japan and China. Rail transportation is environmentally friendly compare to the other transportation modes. Although the Coca Cola Company transport most of their product on the road but they also use the train to transport their product like the Coca Cola Company is working with Tesco on a dedicated rail-freight route. (Coca-Cola GB, 2014) 4. 2 Description of Warehousing Warehousing and storage is an act of storing and assorting the finished goods in order to create maximum time utility at minimum cost. Slideshare. net, 2014) There are various type of warehouse such as General, Specific, Bonded, Bulk storage and refrigerated warehouse. Besides, the location of warehouse can classified as centralized and decentralized warehouse. The Company also can choose to use the 3rd party logistics warehousing. Coca Cola Company is using the decentralized warehousing. Coca Cola Company had more than 120 warehouses in the world and it can serve the customer better positioning by reduce the time required to deliver the goods to the customer and this will increase the customer relationship. Investors and Company et al. , 2014) Besides, a decentralized warehouse can make decision and solve the problem faster because it no needs to wait the decision from top management. (Manda, 2014) Furthermore, firms will save on freight charges due to the reason of bulk handling. (Slideshare. net, 2014) Moreover, Coca Cola also use the 3rd party logistic warehousing for its products. The 3rd party Logistics Company is an independent business that specialized in provide a specific services to a larger client such as Honda, Coca Cola, Pepsi and etc. Slideshare. net, 2014) The 3rd party logistic is focus on the supply chain such as transportation and warehousing in order to improve the efficiency and to reduce the cost of the clients. According to the research, the Coca Cola Company is outsources a part of their supply chain of the warehousing and transportation of finished goods to the DB Schenker Logistics in Poland. (User, 2014) The purpose for Coca Cola Company is to reduce its cost such as lease a warehouse and pay employees. 4. 3 Description of Communication technology The communication technology aspect of logistic is the way or method that a company can know the location or shipping progress of their product. Besides, the company will reduce the cost when it had a good communication in the aspect of logistic. According to the article, the Coca Cola bottling Company had successful reduces the cost by 20% with the GPS- based fleet tracking and win the fleet management formula. By applying the GPS in the truck or fleet, the company can improve the driver safety and indirect increase the safety of the product to reach the destination. (Fieldtechnologiesonline. om, 2014) For example, the GPS will inform and alert the driver to lower the speed when the driver tries to speed up on the road. Besides, Coca Cola Company also had provided the tracking system (RFID) for consumers or client to track and know their shipments. (Coca-colastore. com, 2014) In other word, the tracking system also able for the Coca Cola Company to know the shipment process and location such as whether the product is reach to the warehouse or is it the product is on the way to the destination. For instance, Coca Cola company also using the Speedyred for customer able to track their orders or shipment through the internet. Speedyred. com, 2014) This website that provide by Speedyred is able to track most of the transportation mode such as Air shipment tracking, Sea shipment tracking and also Cargo tracking system. 5. 0 Logistic Challenge faced by Coca Cola Company A company success in its home country might not easy to success or fail in perform in other nations. There are many issue that will cause a company fail in perform in the other nations such as political risk , cultural and etc. Therefore, it will cause a company to face some challenge such as logistic challenge. Illegal in using the truck GPS Applying the GPS on the truck is the benefit for a company in aspect of logistic that able for a company to check and know the shipping process and this is good for company to know the location and the data of the shipment but it will be bad if the company is using the GPS data in another way or for another purpose. According to the article, the China is accuses Coca Cola of illegal using the GPS. The Coca Cola Company using the GPS to gather the confidential information and spotlighting the sensitivity surrounding data in the country. Burkitt, 2014) For my recommendation, the company should not use the other company data for other purpose that might harm the other company benefit. Besides, the company should be ethic to operate its business. The bad impact of outsourcing the logistic to 3rd party logistic The purpose of a company to outsourcing the transportation and warehousing is to reduce the cost and increase the efficiency and it also will increase the job opportunity in the 3rd party logistics company due to the reason the work is outsourced to the 3rd party logistic company and they might need to increase the manpower. According to the article, the Coca-Cola Bottlers Philippines Inc (CCBPI) had increased the use of third party logistic to operate it transportation and warehousing in Philippine. This should be good news for the Philippines resident due to the job opportunities has increased but those 3rd parties logistic company didn’t treat their worker well. Today more workers are employed through this 3rd party logistic company than the entire sales and delivery workforce employed directly by CCBPI but the specialized logistics companies they are just labor agencies and the actual operations are run by CCBPI. Meaning that the 3rd party logistic workers had no health insurance, no medical benefits, no overtime paid and etc. 150 workers which is work in Manila and operate by a 3rd party logistic faced with unpaid wages for 2 to 3 month. (Iuf. org, 2014) For my recommendation, the company should have a certain understand on the the 3rd party logistic company that it choose for outsourced in order to avoid the same incident happen again in the future. 6. 0 Recommendations The company should setting the labor standard in aspect of the transportation and warehousing in order to increase the efficiency of production. The company should provide training or seminar or workshop for those new workers to learn the process that how to operate some complex machine. Besides, the company should set some requirement for hiring workers such as the education level and experiences. For instance, the company also can implement the gain sharing programs in logistic by reward the warehouse and transportation employees for good performance by pay them short-term bonus. This action will motivate the employees to work hard for the company. For example, a country which is short-term orientation and the country worker might easy to motivate because they are more prefer immediate gratification and this will let the company get immediate result by pay the immediate bonus to the workers. (Inboundlogistics. com, 2014) Moreover, the company should choose the right 3rd party logistic for outsource because choosing the wrong 3rd party logistic will cause the company increase in cost and also might harm to the company name. For example, the 3rd parties logistic involve in the transaction of drug by put the drug in the Coca Cola company product. 7. 0 Personal reflection By doing this assignment, I had a clearly and deeply knowing about the inbound and outbound of transportation and warehousing. Besides, I also gain the knowledge about the Coca Cola Company especially of their logistic. Furthermore, I realized that the company cost might decrease by perform well in the transportation and warehousing and concurrently increase the company profit. In Addition, i also learnt that how to choose a right transportation mode for transport purpose and the type of warehouse for company products. Other than that, I also gain the knowledge about the benefit to outsource the works to 3rd party logistics. . 0 Conclusion In conclusion, Logistic system has a more important position in the society activities and the transportation and warehousing is playing an important role in the logistic system. Without the linking of transportation and warehousing, a powerful logistic strategy cannot bring its capacity into full play. (Anonymous, 2014) A company without well develop in transportation systems will lead cause a company increase in cost and loss in profit due to the reason that around 1/3 to 2/3 of the expenses of company logistics cost are spent on transportation. Anonymous, 2014) A good transportation system will provide a better logistics efficiency, reduce operation cost and promote the services quality for a company. Other than reduce in cost of a company, a well handled transport system will satisfy the customers demand by send the goods to the right place at the right time and it also will improve the relationship between the company and the customers. Besides, the warehousing also represents a critical link in the transportation supply chain. The inventory in the warehouse must sufficient because it might break the relationship between the company and customers due to the reason that the customers demand cannot be satisfy. Furthermore, the warehouse must build at the right location in order to reduce the time and space distance between the supplier and customers because it will increase the cost of transport if the warehouse is far to the outlet or end user. The warehouse also playing an important role in maintains the steady sources of supplies.

Free Essays on The Role Of Media In A Multicultural Society

The Role of the Media In A Multicultural Society All of the world knows about the Jewish Holocaust, where millions of Jews were persecuted and put to death in concentration camps. All of the world knows about Nazification, in which Hitler attempted to wipe out the entire Jewish history by attempting to burn the books, ban the langauge, and stifle the Jewish community. The world does not know about the "Han" of the Korean people. History can have a dual role: The one of destroyer or the other of savior. The message a people's history transmits from the past can either kill a people's spirit or empower and magnify. If a people's history has bee n a past laced with hardship, meekness, subjugation, and servility, no empowerment can be derived from it. This history of hardship has been to today the version being transmitted to the Korean people: a nation of meek farmers, always stuck in a peninsula, that they have so much han built up in their psyche, invaded a total of 966 times but somehow survived, never chose to invade others' d omain, a people who have survived many a hardship and subjugation to build a viable nation-state that Korea is today. The most visible cause of this historical view lies in the Japanese colonial era. Every colonial power does its best to instill a sense of inferiority, defeat, and hopelessness into the psyche of the subjugated. The Japanese did everything their power allowed to do to achieve this end; that included a massive sixteen-year compiling of their version of Korean history, The Chosen-sai (History of Chosen). Chosen-sai essentially has never been discarded, owing to the fact that the founder of the modern South Korean historical academic field, Yi Byong-do, was an active participant in the compiling of the Chosen-sai. But Yi not withstanding, the Japanese didn't get their idea just out of the blue, but rather exploited centuries of sadaejui practiced by the Yi Dynasty. Since sadaejui itself wa... Free Essays on The Role Of Media In A Multicultural Society Free Essays on The Role Of Media In A Multicultural Society The Role of the Media In A Multicultural Society All of the world knows about the Jewish Holocaust, where millions of Jews were persecuted and put to death in concentration camps. All of the world knows about Nazification, in which Hitler attempted to wipe out the entire Jewish history by attempting to burn the books, ban the langauge, and stifle the Jewish community. The world does not know about the "Han" of the Korean people. History can have a dual role: The one of destroyer or the other of savior. The message a people's history transmits from the past can either kill a people's spirit or empower and magnify. If a people's history has bee n a past laced with hardship, meekness, subjugation, and servility, no empowerment can be derived from it. This history of hardship has been to today the version being transmitted to the Korean people: a nation of meek farmers, always stuck in a peninsula, that they have so much han built up in their psyche, invaded a total of 966 times but somehow survived, never chose to invade others' d omain, a people who have survived many a hardship and subjugation to build a viable nation-state that Korea is today. The most visible cause of this historical view lies in the Japanese colonial era. Every colonial power does its best to instill a sense of inferiority, defeat, and hopelessness into the psyche of the subjugated. The Japanese did everything their power allowed to do to achieve this end; that included a massive sixteen-year compiling of their version of Korean history, The Chosen-sai (History of Chosen). Chosen-sai essentially has never been discarded, owing to the fact that the founder of the modern South Korean historical academic field, Yi Byong-do, was an active participant in the compiling of the Chosen-sai. But Yi not withstanding, the Japanese didn't get their idea just out of the blue, but rather exploited centuries of sadaejui practiced by the Yi Dynasty. Since sadaejui itself wa...

Human Sexuality- Prostitution Essay Example | Topics and Well Written Essays - 3750 words - 1

Human Sexuality- Prostitution - Essay Example Out of this the aspect of sociological context is the most important of all because every move made by an individual is done as a part of the social structure and defining the social trends relating to sexuality and intimacy would yield the result concerning pornography. Fundamentally, it could be stated that the answers lies in the different sociological factors that has dominant influence on the human mind in relation to pornography like prostitution, adolescent malfunction, marriage, concept of love, homosexuality and various sexual perversions. It could be stated that the history of pornography can be traced back to the site of prostitution. It should be remembered that during the excavation at the site of Pompeii a roman brothel was found which an all kind of sexual activities depicted on the wall. One of them included a man having sexual act with a goat and several had polygamous scenario. In another site in India near Tamluk several terracotta plates were excavated that has varieties of sexual orientations engraved on it including woman having sexual act with a dog or fox. That site was identified as a brothel. Though the sex manual of 400 AD India (Crooks, 2005) was not pornography but a philosophy concerning sexuality, it should be remembered that the site of this text was a brothel in Pataliputra. Thus the connection between pornography and prostitution could be well established. It is obvious that the establishment of prostitution was often implemented by the local rulers for various motives but it is true at the sam e time that these prostitutions only yielded detrimental effects on the society by harvesting different sexual disease like syphilis more often than not.

Pyramids in Egypt Research Paper Example | Topics and Well Written Essays - 3000 words

Pyramids in Egypt - Research Paper Example This paper will focus on this and more so, on the Great pyramids of Giza. The name of the great pyramids is because they constitute the oldest and the largest pyramids in ancient Egypt (Lenher, 1997). They were the first pyramids to be constructed in Egypt by a King called Cheops. Although Cheops was not the first to construct a pyramid, many others including his father Snofru had tried and failed to come up with a perfect pyramid (Verner, 2003). The History – The First Pyramid The history of pyramids can be dated back to the early construction of tombs in Egypt. The construction of the tombs was especially for the burial of the kings and pharaohs of the land. According to Petrie an Egyptologist (Verner, 2003), the pyramids were approximately 280 cubits high and 440 cubits lengthwise. The Pyramids form the greatest wonders of the world today. According to Mendelssohn (1971), the above measurements of the pyramid translate to about a height of 454.5 feet and a length of 755 34 feet. The dimensions brought about the exact relation between the height and length to an accurate 22/7 also known as the ? in mathematics. This accuracy has resulted in questions whether the Egyptians already had a well formed architectural culture, or whether it was by chance. Verner (2003) stated that it did not matter whether they knew the existence of the mathematical ?, the thing is that they used it nonetheless. However, some historians believe that this accuracy could have been deliberate and should therefore not be ignored. According to Petrie, the precision must have been deliberate and included in the design of the builders. The development of the pyramids can be traced back to the culture of the Egyptians. Egyptians were very religious people and believed in many gods. People saw the Pharaoh who was their head as a living god. This respect of the Pharaoh was immense, that the Egyptians believed that they were still ruling over them in spirit form. Hence they were worship ped even in their dead state. The Egyptians believed in life after death. According to them, when a person died, their soul would remain and exist in spirit form called Ka. People believed that Ka would revisit the dead body and dwell in it. As a result of this belief, it was paramount that the body be preserved to entice Ka to come back into the body and dwell forever (Verner, 2003). Since they also believed that life after death was more important and eternal, they treated the dead with great respect and even worshiped them (Verner, 2003). This led to the construction of tombs. Great expense in terms of time and skill went into construction of tombs especially for the Pharaohs. The name of the early tombs was Mastaba (Edwards, 1993). These Mastabas were graves that had slanted walls and flat tops. They formed the embryo for the construction of pyramids. The construction of the stepped pyramids was an attempt to improve these tombs. The formation was through layering of Mastabas fo rming a pyramid that has steps on the side. There was still dissatisfaction as there was a desire to give the Pharaoh an ultimate resting place where he could be worshipped forever. Since the Kings also had a lot of possessions, which they treasured, there was a need to build bigger tombs to accommodate the possessions. Such constructions allowed for the burial of the Pharaoh. From the stepped

Research paper Example | Topics and Well Written Essays - 2500 words - 8

Research Paper Example Such drive of accountability comes from the quest of integrity from public sector management (Oshisami, 2004). Off late, the government sector is coming into increasing focus because of the rise in number of frauds and inappropriate use of public funds. Such irresponsible behavior on the part of the government has called increased attention to accountability and transparency on the part of auditors and accounting managers in these firms and those associated with such government firms (Banker, Chang & Cunningham, 2003). The paper is aimed at finding out the possible reasons behind ethical issues that auditor experience in government firms over auditing practices. The paper proceeds in two forms of data analysis to support and provide weight to the view. The primary data is collected by means of an interview of 30 auditors belonging to a private audit firm who do audits for government organization. The interviewees were quizzed over various aspects of ethical auditing problems in government firms. The secondary research over the topic was done by means of extensive research through journals, articles and books. The research moved on to identify problem areas in ethical auditing and tries to suggest recommendation for improvement over those. Auditing can be defined as a self-determining examination of books of accounts of an organization done by a designated person which gives a fair view of whether accounts maintained are true and reasonable and also whether they comply with regulatory requirements or not. Audit can be classified into three types of categories. In a recent report, it was found that one of the big four auditing firms, Ernst & Young had reported a flaw in about 48% of its audits revealed by the US government auditing regulators. Such inefficiencies included insufficient tests of their customer’s internal safeguards, failure of identification of revenue