Performance Measurement And Control Of Renault And Loreal Finance Essay - Free Essay Example

Sample details Pages: 5 Words: 1634 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? The performance measurement system of a firm has a strong influence on the behavior of its people. Performance measurement is the basis of every system like cost system, planning system, capital budgeting system, personal assignments, promotions, reorganizations, budget allocations- the mechanisms, built up over years by which every thing runs in a company. Organizations measurement system strongly affects the behavior of people both inside and outside the organization. Don’t waste time! Our writers will create an original "Performance Measurement And Control Of Renault And Loreal Finance Essay" essay for you Create order In this coursework two French companies called Renault and LOreal has been chosen. The main aim of this coursework is find out the financial performance, strategies used by these firms and their conduct. The main purpose of this study is gain insight into the performance measurement design of these French firms. Gross margin of LOreal amounted to 70.5% of sales. The improvement of 10 basis points reflects efficiency gains in plants and gains on purchasing, and, on the other hand, extra costs linked in particular to monetary parities. This improvement in gross profit was particularly significant in the second half of 2009. The automotive market of Renault is expected to grow by 3% in 2010 compared with 2009, but with significant disparities between regions. In two of the main regions in which Renault is present, Europe and Euromed, markets are expected to shrink by around 10% on 2009. We therefore expect 2010 to be another tense year and, once again, our main objective is to generate positive free cash flow. Strategic objective of Renault: . Aiming to be pioneers in the mass marketing of electric vehicles while continuing to improve the efficiency of combustion engines. Continue to boost sales on emerging markets, especially by position in countries where Renault already present, such as Russia, India and Brazil. Expand commercial offensive in Europe, particularly by strengthening the respective positions of brands, Renault and Dacia. Consolidate position as a leader in low-cost vehicles with the Logan platform, and use future ultra-low cost vehicle as a lever for our international development. Step up the development of joint policies within the Alliance, which is crucial in achieving these objectives. The increase in 2009 of the driving forces of LOreal represented by research and advertising promotion expenses, which are essential for the lasting support and sustainable development of the companys brands, was approved as their strategic objective. Introduction Performance measurement refers to the system by which the performance of a company is measured in terms of financial and non-financial areas. Performance measurement is the process whereby an organization establishes the parameters within which programs, investments, and acquisitions are reaching the desired results. Performance measurement sometimes rely heavily financial measures. A company is likely to concentrate on activities like product development, manufacturing, and customer service. In order to maintain competitive edge, the performance measurement tools should be well-conceived and designed. Principles of performance measurement All significant work activity must be measured. Work that is not measured or assessed cannot be managed because there is no objective information to determine its value. Therefore it is assumed that this work is inherently valuable regardless of its outcomes. The best that can be accomplished with this type of activity is to supervise a level of effort. Works which are unmeasured should be minimized or eliminated. For all measured work, desired performance outcomes must be established. Outcomes provide the basis for establishing accountability for results rather than just requiring a level of effort. For work evaluation and meaningful performance appraisal, desired outcomes are necessary. Defining performance in terms of desired results is how managers and supervisors make their work assignments operational. Performance reporting and variance analyses must be accomplished frequently. Frequent reporting enables timely corrective action. Timely corrective action is needed for effective management control. The basic purpose of performance measurement system is to provide feedback, relative to the goals, that increases chances of achieving the goals efficiently and effectively. Performance measurement measures can be financial as well as non-financial. Financial measures include: Return on capital employed, Return on investment, Return on equity, Return on sales, Economic value added, Profit after tax, Market capitalization etc. Non-financial measures include: Customer satisfaction index, Customer returns, market share, new product introduction, On-time delivery Employee productivity index, manufacturing cycle index etc. Both LOreal and Renault have almost all the above mentioned financial and non-financial measures. For example, the main objective of Renault in 2009 was to achieve free positive cash flow and this plan was organized in three parts namely maximizing revenues by improving market share, reducing working capital and reducing fixed cost. LOreal received top marks in financial performance, appeal, leadership, products and services. Several performance measurement systems are in use today, and each has its own group of supporters. For example, the Balanced Scorecard Balanced Scorecard Most companies have a performance measurement system that includes financial measures as well as non-financial measures. Financial measures are used primarily by senior managers to monitor the performance of the firm as a whole and its business units or divisions. Non financial measures are employed mainly by operating managers to control short-temporary operations. The balanced scorecard approach pioneered by Robert Kaplan, David Norton and others seeks to develop an integrated performance measurement system. Structure of a Balanced Scorecard How do we look to shareholders?Financial perspective How do customers see us? Goals Measures Customer perspective Goals Measures Internal business perspective Goals Measures Innovation and learning perspective Goals Can we continue to improve and create value?Measures Both LOreal and Renault have performance measurement systems. If we apply balanced score card for these companies we can find out how well they are performing in all perspective in business. Financially both these companies are doing well. They are well doing with their shareholders. Their internal business perspective is also very good comparatively. Renault is innovative with the new technologies where by they are able to meet customer needs as per their requirement. LOreal is also making innovations in their cosmetic segment. Both these companies have a good customer relation Aim of the Study The aim of this study is assess the financial performance of Renault and LOreal and find out the performance measurement systems adopted by these firms. Result of the Study Financial Performance of Renault (2009) Liquidity Ratios Current Ratio = __ Current Assets___ Current Liability = __ 5,941.1_ 35,795 = 0.947 Acid-test Ratio = __Quick Assets__ Current Liability = __Current Asset Inventories__ Current Liability = ____33,913 3,932____ 35,795 = 0.83 Leverage Ratios Debt-equity Ratio = _ Debt__ Equity = __ Debt_______________ Net worth + deferred tax liability = ____47446____ 16,472 + 114 = __47446___ 16586 = 2.86 Debt -asset ratio = ___Debt___ Asset = ___Debt___ Equity + Debt = _47446_ 16586 + 47446 = 0.74 Turnover Ratios Inventory Turnover Ratio = ___Cost of good sold___ Average Inventory = ___ 26,978 ___ (3,932 + 5,266) / 2 = 5.87 Fixed Assets Turnover Ratio = ________Net Sales_______ Average net fixed assets = ____32,415_____ (30,000 + 32,553) /2 = 1.036 Total Assets Turnover Ratio = ____Net Sales_____ Average total assets = ____ 32,415______ (63,978 + 63,831) /2 = 0.507 Profitability Ratios Gross Profit Margin Ratio = ___Gross Profit / Loss___ x 100 Net Sales = ___ (396) ___ x 100 32,415 = (1.22) % Net Profit Margin Ratio = _____Net Profit/ Loss___ x 100 Net Sales = ____ (3,068) ___ x 100 32,415 = (9.446) % Return on Equity = ___Equity earnings__ Average equity = ___ (3,068) _______* 100 (16,472 + 19,416) / 2 = (17.097) % Financial Performance of LOreal Liquidity Ratios Current Ratio = __ Current Assets___ Current Liability = __ 5,941.1_ 5,386.5 = 1.103 Acid-test ratio = __Quick Assets__ Current Liability = __Current Asset Inventories__ Current Liability = ____5,941.1 1,476.7____ 5,386.5 = 0.829 Leverage Ratios Debt-equity Ratio = _ Debt__ Equity = __ Debt_______________ Net worth + deferred tax liability = ____9693.1__ 13,598.3 + 418.0 = __9693.1___ 14016.3 = 0.692 Debt -asset ratio = ___Debt___ Asset = ___Debt___ Equity + Debt = _9693.1 13,598.3 + 9693.1 = 0.416 Turnover Ratios Inventory Turnover Ratio = ___Cost of good sold___ Average Inventory = ___ 5,161.6 ___ (1,476.7 + 1,635.5) / 2 = 3.317 Fixed Assets Turnover Ratio = ________Net Sales_______ Average net fixed assets = ____17,472.6_____ (17,350.4 + 16,380.3) /2 = 1.036 Total Assets Turnover Ratio = ____Net Sales_____ Average total assets = ____ 17,472.6_____ (23,291.5 + 22,906.9) /2 = 0.756 Profitability Ratios Gross Profit Margin Ratio = ___Gross Profit / Loss___ x 100 Net Sales = ___ 12,311.0___ x 100 17,472.6 = 70.45 % Net Profit Margin Ratio = _____Net Profit/ Loss___ x 100 Net Sales = ____ 1,794.9 ___ x 100 17,472.6 = 10.27 % Return on Equity = ___Equity earnings__ Average equity = ___ 1,794.9 _______x 100 (13,598.3 + 11,562.5) / 2 = 14.267 % Findings Comparison between financial performance of LOreal and Renault: Financial Ratios Renault LOreal Liquidity Ratios Current Ratio Acid-test Ratio 0.947 0.838 1.103 0.829 Leverage Ratios Debt-equity Ratio Debt-asset Ratio 2.86 0.74 0.692 0.416 Turnover Ratios Inventory Turnover Ratio Fixed Assets Turnover Ratio Total Assets Turnover Ratio 5.87 1.036 0.507 3.317 1.036 0.756 Profitability Ratios Gross Profit Margin Ratio Net Profit Margin Ratio Return on Equity (1.22)% (9.446)% (17.097)% 70.45% 10.27% 14.267% Interpretations: Liquidity Ratio of a firm refers to the ability of a firm to meet its obligations in the short-run. LOreal has higher current ratio compared to Renault. It is clear that LOreal has the ability to meet its obligations within time as compared to Renault. Acid-test ratios of both the firms are some what same. Financial leverage refers to the use of debt finance. Debt -equity ratio is LOreal is lower as compared to Renault which shows that the creditors of LOreal are enjoying higher degree of protection. Debt-asset ratio measures the extent to which borrowed funds support the firms assets. In this context, LOreal is having low ratio compared to Renault. This implies that Renault is using borrowed funds to invest in assets. Inventory turnover ratio measures the speed with which inventory is moving through the firm and generating sales. Renault is having higher inventory turnover ratio, it shows that it has efficient inventory management as compared to LOreal. Fixed asset turnover ratio is same for both the companies. Higher ratio indicates a high degree of efficiency in asset utilization. Total asset turnover ratio measures how efficiently assets are employed, overall. Overall LOreal has efficient employment of assets compared to Renault. When we compare the profitability ratio of both the firms, it is clear that Renault is having a negative figure which implies that it has incurred huge loss in the year 2009. LOreals profitability is high and it is generating positive cash flows. Conclusions It can be concluded that the performance of LOreal is good as compared to Renault in the year 2009 as they have incurred net loss. Renault group has increased its market share to 3.7%. Even though it has incurred net loss in the end of 2009, it has increased its market share by increase in sales volume and efficient inventory management. Renault has high leverage funds invested which is the cause of loss and moreover Renault has financed its fixed assets through debt. LOreal on the other hand has a good financial performance because of its effective management of funds. It has incurred profit in the year 2009, so financial performance of LOreal is better than Renault.

Implementation Of The Machine Learning Classifier For...

\chapter{Implementation} Implementation of the machine learning classifier for anomaly detection involves using some libraries which help to execute the different steps to classify data and perform analysis. In the next section the detailed implementation of this project will be discussed. \section{Dataset selection} This was the most important part of the entire project and consumed a lot of time. Selecting a suitable database to perform the desired type of analysis was a very difficult task as there are a very few well organized and labeled medical databases which are suitable to perform anomaly detection. The database used by this project is the Pima Indians Diabetes database \cite{Dataset} which is a well structured and a labeled†¦show more content†¦This helps to display the data points, attributes and various features in the dataset. The other library that is used in the project is Scikit-learn \cite{scikit}. This library plays an important role in building the classifier and designing the machine learning algorithm. Scikit-learn \cite{scikit} is an open source library which provides efficient tools for data mining and data analysis. It is based on other Python libraries like NumPy \cite{Numpy}, Scipy \cite{Scipy} and Matplotlib \cite{Matplot}. Scikit \cite{scikit} provides various functions and methods for classification and hence helps to build an efficient classifier to detect anomalies in the data. \section{Machine learning algorithms} There is a vast collection of machine learning classifiers that are provided in the Scikit-learn library \cite{scikit}. All that is needed to do is install and import the Scikit-learn \cite{scikit} library. Three different machine learning algorithms are used to build a classification model to detect anomalies in the data. Out of these three the one which provides optimal accuracy is chosen. The machine learning algorithms that are used on the data are the Gaussian Naive Bayes algorithm, Logistic Regression algorithm and Support Vector Machine algorithm. After loading the dataset, the next important step is to visualize the data. Further, there is a need to split the data into training andShow MoreRelatedCyber Security And Technology Detection System922 Words   |  4 Pagesthis tool can be named as cyber security. To guarantee the safety of a system a tool should be able to detect an anomaly or intrusion. Thus this tool set consist of at least an Intrusion detection system. The system tries to prevent intrusion by having firewalls and tries to eliminate the damage done by the use of antivirus. Attacks can be classified as â€Å"known attacks† or â€Å"anomaly based†. 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The Hunters Phantom Chapter 5 Free Essays

â€Å"Are you excited for Alaric to arrive tomorrow?† Matt asked. â€Å"He’s bringing his researcher friend Celia, right?† Meredith kicked him in the chest. â€Å"Oof!† Matt staggered backward, knocked breathless despite the protective vest he had on. We will write a custom essay sample on The Hunters: Phantom Chapter 5 or any similar topic only for you Order Now Meredith fol owed up with a roundhouse kick to Matt’s side, and he fel to his knees, barely managing to raise his hands and block a straight punch to his face. â€Å"Ow!† he said. â€Å"Meredith, time-out, okay?† Meredith dropped into a graceful tiger stance, her back leg supporting her weight while her front foot rested lightly on her toes. Her face was calm, her eyes cool and watchful. She looked ready to pounce if Matt showed any sign of sudden movement. When he’d arrived to spar with Meredith – to help her keep her hunter-slayer skil s in top-notch shape – Matt had wondered why she had handed him a helmet, mouth guard, gloves, shin guards, and vest, while she wore only sleek black workout clothes. Now he knew. He hadn’t even come close to hitting her, while she’d pummeled him mercilessly. Matt eased a hand up under the vest and rubbed rueful y at his side. He hoped he hadn’t cracked a rib. â€Å"Ready to go again?† Meredith said, her eyebrows raised in chal enge. â€Å"Please, no, Meredith,† Matt said, raising his hands in surrender. â€Å"Let’s take a break. It feels like you’ve been punching me for hours.† Meredith walked over to the smal fridge in the corner of her family’s rec room and tossed Matt a bottle of water, then sank down next to him on the mat. â€Å"Sorry. I guess I got carried away. I’ve never sparred with a friend before.† Looking around as he took a long, cool drink, Matt shook his head. â€Å"I don’t know how you managed to keep this place secret for so long.† The basement room had been converted into a perfect place to train: throwing stars, knives, swords, and staves of various kinds were mounted on the wal s; a punching bag hung in one corner, while a padded dummy leaned in another. The floor was lined with mats, and one wal was completely mirrored. In the middle of the opposite wal hung the fighting stave: a special weapon for battling the supernatural that had been handed down through generations of Meredith’s family. It was deadly but elegant-looking, the hilt covered with jewels, the ends spiked with silver, wood, and white ash, and the needles steeped in poison. Matt eyed it warily. â€Å"Wel ,† said Meredith, looking away, â€Å"the Suarez family has always been good at keeping secrets.† She began to move through a tae kwon do form: back stance, double fist block, left front stance, reverse middle punch. She was graceful as a slim black cat in her workout gear. After a moment, Matt capped his water bottle, climbed to his feet, and began to mirror her movements. Left double front kick, left inside block, double-handed punch. He knew he was half a beat behind and felt shambling and awkward next to her, but frowned and concentrated. He’d always been a good athlete. He could do this, too. â€Å"Besides, it’s not like I was bringing my prom dates down here,† Meredith offered after a cycle, half smiling. â€Å"It wasn’t that hard to hide.† She watched Matt in the mirror. â€Å"No, block low with your left hand and high with your right hand, like this.† She showed him again, and he shadowed her movements. â€Å"Okay, yeah,† he said, only half concentrating on his words now, focused on the positions. â€Å"But you could have told us. We’re your best friends.† He moved his left foot forward and mimicked Meredith’s backward elbow blow. â€Å"At least, you could have told us after the whole thing with Klaus and Katherine,† he amended. â€Å"Before that, we would have thought you were crazy.† Meredith shrugged and dropped her hands, and Matt fol owed before he realized that the gestures weren’t part of the tae kwon do form. Now they stood side by side, staring at each other in the mirror. Meredith’s cool and elegant face looked pale and pinched. â€Å"I was brought up to keep my heritage as a hunterslayer a deep, dark secret,† she said. â€Å"Tel ing anybody wasn’t something I could consider. Even Alaric doesn’t know.† Matt turned away from Meredith’s mirror image to gape at the real girl. Alaric and Meredith were practical y engaged. Matt had never been that serious with anyone – the girl he’d come closest to loving was Elena, and obviously that hadn’t worked out – but he’d sort of figured that, if you committed your heart to somebody, you told them everything. â€Å"Isn’t Alaric a paranormal researcher? Don’t you think he would understand?† Frowning, Meredith shrugged again. â€Å"Probably,† she said, sounding irritated and dismissive, â€Å"but I don’t want to be something for him to study or research, any more than I want him to freak out. But since you and the others know, I’l have to tel him.† â€Å"Hmm.† Matt rubbed his aching side again. â€Å"Is that why you’re pounding on me so aggressively? Because you’re worried about tel ing him?† Meredith met his eyes. The lines of her face were stil tense, but a mischievous glimmer shone in her eyes. â€Å"Aggressive?† she asked sweetly, fal ing back into the tiger stance. Matt felt an answering smile tug at the corners of his mouth. â€Å"You haven’t seen anything yet.† Elena surveyed the restaurant Judith had picked with a kind of bemused horror. Beeping video game machines vied for attention with old-fashioned arcade games like Whac-AMole and Skee-Bal . Bouquets of brightly colored bal oons bobbed over every table, and a cacophony of song rose from various corners as singing waiters delivered pizza after pizza. What seemed like hundreds of children ran loose across the floor, shrieking and laughing. Stefan had walked her to the restaurant, but, eyeing the neon paint job with alarm, he’d declined to come in. â€Å"Oh, I shouldn’t intrude on girls’ night,† he’d said vaguely, and then disappeared so quickly Elena suspected he’d used vampiric speed. â€Å"Traitor,† she’d muttered, before warily opening the bright pink door. After their time together in the graveyard, she felt stronger and happier, but she would have liked some support here, too. â€Å"Welcome to Happytown,† chirped an unnatural y cheery hostess. â€Å"Table for one, or are you meeting a party?† Elena repressed a shudder. She couldn’t imagine anyone choosing to come to a place like this by themselves. â€Å"I think I see my group now,† she said politely, catching sight of Aunt Judith waving to her from a corner. â€Å"This is your idea of a fun girls’ night out, Aunt Judith?† she asked when she reached the table. â€Å"I was picturing something more like a cozy bistro.† Aunt Judith nodded toward the other side of the room. Peering over, Elena spotted Margaret, happily whacking away at toy moles with a mal et. â€Å"We’re always dragging Margaret to grown-up places and expecting her to behave,† Aunt Judith explained. â€Å"I thought it was time she got a turn to do something she enjoyed. I hope Bonnie and Meredith won’t mind.† â€Å"She certainly looks like she’s enjoying herself,† Elena said, studying her little sister. Her memories of Margaret from the last year were of strain and anxiety: During the fal Margaret had been upset by Elena’s fighting with Judith and Robert and by the mysterious happenings in Fel ‘s Church, and then, of course, devastated by Elena’s death. Elena had watched her through the windows afterward and seen her sobbing. She’d suffered more than any five-yearold should, even if she didn’t remember any of it now. I’ll take care of you, Margaret, she promised fiercely and silently, watching the studious concentration on her sister’s face as Margaret practiced a little old-fashioned carnival violence. You won’t have to feel like that again in this world. â€Å"Are we waiting for Bonnie and Meredith?† Aunt Judith prompted gently. â€Å"Did you end up inviting them to join us?† â€Å"Oh,† said Elena, jarred out of her reverie. She reached for a handful of popcorn from the basket in the middle of the table. â€Å"I couldn’t get ahold of Meredith, but Bonnie’s coming. She’l love this.† â€Å"I absolutely, total y do love this,† a voice agreed from behind her. Elena turned to see Bonnie’s silky red curls. â€Å"Especial y the expression on your face, Elena.† Bonnie’s wide brown eyes were dancing with amusement. She and Elena shared a look that was ful of al the we’re back, we’re back, they did what they said and Fell’s Church is the way it should be again that they couldn’t say in front of Aunt Judith, then fel into each other’s arms. Elena squeezed Bonnie tightly, and Bonnie buried her face in Elena’s shoulder for a moment. Her petite body quivered slightly in Elena’s arms, and Elena realized that she wasn’t the only one walking a fine line between delight and devastation. They’d gained so much – but it had come at a very high price. â€Å"Actual y,† said Bonnie with careful cheer as she released Elena, â€Å"I had my ninth birthday at a place very much like this. Remember the Hokey-Pokey Gril ? That was the place to be when we were in elementary school.† Her eyes held a bright sheen that might be tears, but her chin stuck out determinedly. Bonnie, Elena thought with admiration, was going to have fun if it kil ed her. â€Å"I remember that party,† Elena said, matching Bonnie’s lightness. â€Å"Your cake had a big picture of some boy band on it.† â€Å"I was mature for my age,† Bonnie told Aunt Judith merrily. â€Å"I was boy crazy way before any of my friends were.† Aunt Judith laughed and waved Margaret over toward their table. â€Å"We’d better order before the stage show starts,† she said. Elena, eyes wide, mouthed, Stage show? at Bonnie, who smirked and shrugged. â€Å"Do you girls know what you want?† Aunt Judith asked. â€Å"Do they have anything besides pizza?† Elena asked. â€Å"Chicken fingers,† answered Margaret, climbing into her chair. â€Å"And hot dogs.† Elena grinned at her sister’s tousled hair and expression of delight. â€Å"What are you going to have, bunny?† she asked. â€Å"Pizza!† Margaret answered. â€Å"Pizza, pizza, pizza.† â€Å"I’l have pizza, too, then,† Elena decided. â€Å"It’s the best thing here,† Margaret confided. â€Å"The hot dogs are weird-tasting.† She squirmed in her chair. â€Å"Elena, are you coming to my dance recital?† she asked. â€Å"When is it?† Elena asked. Margaret frowned. â€Å"The day after tomorrow,† she said. â€Å"You know that.† Elena glanced quickly at Bonnie, whose eyes were wide. â€Å"I wouldn’t miss it for the world,† she told Margaret affectionately, and her sister nodded firmly and stood up on her chair to reach the popcorn. Under cover of Aunt Judith’s scolding and the semimelodious sound of their singing waiter approaching, Bonnie and Elena exchanged a smile. Dance recitals. Singing waiters. Pizza. It was good to live in this kind of world for a change. How to cite The Hunters: Phantom Chapter 5, Essay examples

International Relations for World Wide Fund- myassignmenthelp

Question: Discuss about theInternational Relations for World Wide Fund. Answer: Intergovernmental organizations are part of the international organizations with membership exceeding three states. The states create these IGOs to help them in solving their shared problems thus ensure they make collective decisions to overcome the challenge(Goldstein Pevehouse, 2010). In the IGOs, the representatives of these states gather to address the issues affecting the region. The most common intergovernmental organizations include the Association of Southeast Asian Nations and the WTO(Laksmana, 2013). The SEAN is mandated to promote regional culture, social, and economic cooperation in the region. The WTO also manages conflicts or disputes related to trading partners. The NGOs are the second non-state or private actors. In most cases, volunteers from the community to promote the shared interests form these organizations thus influence the state policies. The NGOs have helped in addressing various global issues including disarmament, human rights, and environmental protection(Laksmana, 2013). These organizations focus on respected and constructive objectives thus rarely trigger opposition and controversies. For example, the Religious Movement and World Wide Fund for Nature are popular NGOs. The WWF addresses issues related to environmental research, restoration, and conservation while the Religious Movement promotes religious convictions and principles of conduct. The Multinational Corporations are businesses that engage in profit-maximization goals and operate in different countries. These firms have headquarters in one country and subsidiaries in other countries(Goldstein Pevehouse, 2010). MNCs are large companies operating worldwide and have employees and fixed assets. For example, the Honda and Financial organization including banks are MNCs. Honda, for instance, manufactures its products in different factories and sell them to different customers worldwide. Similarly, banking institutions operate internationally and they have to comply with stringent restrictions than other businesses. Chapter 2 Question Set: Based on the events in Syria, it appears that any intervention can establish a post-global order, especially the post-Westphobia. In the international law, no power is allowed to interfere with the domestic affairs of any country(Goldstein Pevehouse, 2010). Despite the continued blood shade in Syria due to civil war, the country has avoided seeking the intervention of other countries. Syria only requested Russia to intervene instead of seeking solace from other strong democracies. The other powers have kept a distance from interfering with the Syrian affairs because President Assad enjoys strong ties with Moscow. The Russian government has supported the Syrian government by offering military personnel, equipment, and housing. This has complicated matters for other countries which view any war against Assad would be a declared war on Russia. The United States has avoided confrontation in Syria because Russia can use nuclear arsenals. Therefore, any war with Russia would cause the wor st situation in the world. Many countries have also opposed the US intervention in Syria because it can destabilize the region leading to war. Chapter 3 Question Set: The legislative branch of government has the responsibility to define the countrys foreign policy. It is a representative of the masses thus allows the representatives to participate in the foreign policy decisions. In most cases, each government has its own foreign policy. Nonetheless, foreign policy decisions have to reflect the processes like the domestic coalition. In democratic governance, the executive operates through political debate. In the United States, for instance, the constitution defines the countrys foreign policy power(Goldstein Pevehouse, 2010). Both the executive and Congress has shared the responsibility to define and reshape the foreign policy. Both branches of government can initiate changes in the U.S foreign policy. Although military action relates to war, the economic embargoes and sanctions can be used to compel other countries to comply with the nations standards and regulations. These sanctions rarely have grave consequences. However, the military actions involve the use army is costly. Chapter 4 Question Set: Women play crucial roles in industrializing any country. However, the efforts to entrench gender equity undermine the principles of democracy(UN, 2011). For instance, the move by different countries to establish gender quotas to allow women have some political positions is discriminatory. Indisputably, the feministic revolution has helped many women earn senior positions in politics and government(Goldstein Pevehouse, 2010). This makes creating gender quotas for women to disrupt democratic processes. The political systems should be left to select the best candidate without creating a predetermined people(InternationalsymposiumSymOrg2016, Jas?ko, Marinkovic?, Beagrade, 2016). Indisputably, in the democratic principle, the previous political system can never compromise the gender issues. Following the recent revolutions, many women have ascended to leadership in the current systems. The systems represent the genders. Chapter 5 Question Set: The situation and environment have completely shifted because the U.S no longer pursues a common enemy. Previously, the United States worked together with China to contain Russia(Stratfor, 2016). However, new threats have emerged that can cause war including space completion, purported espionage, and cyber-attacks. Unfortunately, any war between the superpowers could have the worst economic impact(Goldstein Pevehouse, 2010). Today, no country is an island because they must work together. Indisputably, these countries have demonstrated real tension in certain areas but the costs of war would outwit the benefits. For instance, the US and Russia have experienced serious conflict situations that could have triggered real war. In fact, both countries pursue different interests. Although the US is superior to Russia, in the last two decades, Russia has tried to narrow the gap militarily. Russia is taking an aggressive approach, especially following its entry into Syria thus compelling the US to remain timid(Stratfor, 2016). The Russian move made the U.S protect its allies instead of facing off with Russia over Syria. The United States has opted for supporting the Ukraine through nonlethal means thus helps them overcome the Russian siege. Since both countries have lethal weapons, none of them would opt for war but engage in cold war. Chapter 6 Question Set: Previously, nations used to fight great conflicts using their navies, armies, and the air forces. Nations with advanced military resources always emerged victorious in the end. Undoubtedly, the United States enjoys the military superiority in the world(Petras, 2017). Unfortunately, the country has found it difficult to employ its military resources in Ukraine, the Middle East, and Africa due to the conflicting resolutions. For instance, the U.S should focus on aiding and supporting these allies instead of inflicting its powers on them(Goldstein Pevehouse, 2010). Today, these countries are suffering from terrorism that has inflicted suffering on their population. To this effect, the U.S is called upon to protect and support them against the aggressors. The US has responded swiftly by imposing an economic and political sanction of the countries posing threats to their democracies(Petras, 2017). These regions no longer experience a single problem by faces multiple challenges including terrorism, religious tensions, rising non-state actors, and falling governments. This shows the region experiences multiple problems thus becoming difficult to for the US to employ its massive force instead offers solutions based on the outcomes. Chapter 7 Question Set: The national law and international law are incomparable in terms of enforcement. Studies have demonstrated that enforcing the national law is effective because there is no direct influence from international counterparts of local police, county sheriff, or federal marshals(Baradaran, Findley, Nielsen, Sharman, 2010). Today, the international law enforcement officers are absent because any international enforcement requires the support from the local officers(Voeten, 2014). In fact, even the political support for such laws is absent. In the international community, the UN has established the UN Security Council, which should use the Chapter VII of the Charter to enforce laws. Based on the UN Charter, the council has to determine the existence of a threat to peace or any act of aggression. To this effect, the Security Council can recommend military action, diplomatic interventions, or economic sanctions to resolve the situation(Goldstein Pevehouse, 2010). Unfortunately, most of these international approaches are imperfect because they can apply unevenly or enforced slowly. This is because the bodies mandated to implement them lack the representation of the international communities. Chapter 8 Question Set: The protectionism is a policy, which many countries have used to promote their infant industries. However, this policy presents numerous deficiencies including the economic crisis. For instance, the use of tariff hinders an efficient global trade(Goldstein Pevehouse, 2010). This makes tariff a deficiency that needs to be reviewed to promote good trading culture. Trade protectionism has always weakened even strong industries because it rarely gives room for companies to improve and innovate their products and services. This deficiency also slows down the economic growth(Suranovic, 2012). For instance, when businesses forgo export and import trading, the economy will lose jobs, especially workers engaged in the importing and exporting businesses. Today, businesses operate on the global market because of globalization. It would be unjust for a firm to avoid seeking new opportunities in other markets because of protectionism culture. Chapter 9 Question Set: FDI has been associated with increased demand for the host nation through technology transfer and productivity improvements. However, this strategy raises many concerns thus require redress(Goldstein Pevehouse, 2010). This FDI jeopardizes the balance of payment in the long run especially of the host nation. This is because the foreign investors try to recover their initial capital outlay thus turning the investments into profitability. This will see the capital returns to the home country from the host nation. Additionally, the FDI has always generated negative externalities, especially in the host nations labor market(Kurtishi-Kastrati, 2013). This is evident where the investor maximizes the profits and reduces costs. Sometimes the investors use unique strategic reason to access the host country. Nonetheless, these FDI intends to get returns from their capitals. Chapter 10 Question Set: The unification of the European countries to form the European Union was a significant decision that transformed the region in a single trading bloc. The success of this unification was evident when it adopted a single currency(Mursa, 2014). The move has benefits and costs that the member states must converse. With a single currency, the Eurozone members have managed to stimulate trade(Geoghegan, 2014). This is an indisputable benefit of a single currency adoption within a trading bloc. The exchange rate fluctuations exposed the countries engaged in trading activities. The fall of transaction costs could also affect the companies from member countries(Goldstein Pevehouse, 2010). Therefore, by adopting a single currency, the region stimulated free flow of capital, people, and goods thus stimulating trade activities. Although the euro currency has promoted trade in the region, this instrument is imperfect because of its fiduciary currency. Such fiat currencies rely on the trust of people instead of real standards(Geoghegan, 2014). To this effect, the European Central Bank can adopt discretionary monetary policies adopted by national governments. This can deny the currency its real standard or base. For instance, the European authorities opted to devalue the currency and finance the Greeks budget deficits(Mursa, 2014). During the Greece crisis, the European Central Bank offered the Greek government monetary emissions thus violating fundamental principles guiding the euro convergence. Chapter 11 Question Set: Population growth contributes significantly to global warming because humans intensify their efforts to use fossil fuels to enhance mechanized lifestyles. With more people, the demand for coal, gas, and oil and other fuels increase(Goldstein Pevehouse, 2010). Whenever the drilled or mined fuels are burned, they emit CO2 into the atmosphere leading toe greenhouse effect. Based on the report of the Scientific Americans, the developed economies consume more fossil fuels than the developing world(UNPF, 2017). For example, the United States is home to over 5 percent of the global population but emits over 25 percent of the total carbon dioxide output(Higgins, 2013). As the developing countries are industrializing quickly, the global CO2 emissions would be high. Therefore, the consumption patterns, global warming, and population are linked to the collective environmental impact in the world. This because as developing countries invest in economic development initiatives, the global emissi ons grow. The population growth rates and size also become significant leading to global warming. Chapter 12 Question Set: Immigration is critical in helping the economy grow, especially the receiving nations labor market. According to the OECD, the immigrants had defined the European countrys dynamic sectors including technology, science, mathematics, and engineering. These immigrants serve this occupation diligently and boost the traditional occupations like maintenance, repair, and installation(Goldstein Pevehouse, 2010). Without a doubt, the expansion of workforce through migration has aggregated GDP to grow. The migrants are the source of innovation and entrepreneurial activity. Studies have demonstrated that skilled immigrants have continued to boost innovation, entrepreneurship, technological change, and research (EPSC, 2015). For instance, the founder of WhatsApp, John Koum was an immigrant from Kiev. With the future economic models focusing on the frontier of creating new markets and knowledge, the immigrants become valuable. Currently, Europe is below the global race for expertise. The high-ed ucated immigrants are driving the economy of the European countries. Researchers found that the net fiscal contributions of these immigrants are insignificant compared to native-bone(Huttl Leandro, 2015). This is because; the migrants claim more benefits and pay fewer taxes. Since these people secure low employment level, they end up paying less tax. Accordingly, Foged and Peri found that the German government spends over 10 billion euros to pay refugees(Foged Peri, 2015). Foged and Peri have raised issues with the refugees in the labor market. For instance, the immigrants with lower education level and experience have displaced the native workers in less manual work. The immigrants have also increased the waiting hours in health care(Huttl Leandro, 2015). The statistics from the UK indicates that the immigration has affected the health care systems, especially in elective care, accident, and emergency where the waiting time has increased. Chapter 13 Question Set: The export-led growth is a situation where governments opt to increase exports in anticipation to improve increase growth, productivity, and exchange earnings. This is an outward-oriented strategy because it links the world with the domestic economies. Indeed, this strategy ensures a country realizes growth by exporting manufactured goods instead of enhancing their growth through protective domestic policies. However, the non-east Asian countries have failed to use this strategy to succeed(Higgins, 2013). This is because these countries believe in protecting their domestic producers thus preferring import substitution strategy. In most cases, the developing nations, especially the non-East Asian countries believe that exporting manufactured goods is disastrous because their products are inferior and can rarely compete with established corporations in the international markets. They have thus maintained high trade barriers(Goldstein Pevehouse, 2010). The protectionist policies as ado pted by the non-East Asia countries can help the infant industries. These countries also embrace import quotas; import tariffs and prohibit the importation of some commodities. With these protectionist policies, these countries believe they can protect their manufacturing industries. The countries have also used the import restrictions and tariffs to raise their budgetary revenues and strengthen the national security. References Baradaran, S., Findley, M., Nielsen, D., Sharman, J. (2010). Does international law matter? Retrieved October 12, 2017, from https://www.michael-findley.com/uploads/2/0/4/5/20455799/does-intl-law-matter_pre-publication-version.pdf EPSC. (2015, April 30). Legal Migration in the EU. Retrieved October 12, 2017, from https://ec.europa.eu/epsc/publications/strategic-notes/legal-migration-eu_en Foged, M., Peri, G. (2015, March). Immigrants effect on native workers: new analysis on longitudinal data. Retrieved October 11, 2017, from IZA Discussion Paper No. 8961: https://ftp.iza.org/dp8961.pdf Geoghegan, S. (2014, September). 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