Hershey Marketing Free Essays

The Hershey Company 1. History and Overview The first Hershey’s Chocolate Bar was delivered in 1900, six years after the firm that would turn into The Hershey Company (â€Å"Hershey†) was established by sweets maker Milton S. Hershey. We will compose a custom paper test on Hershey Marketing or on the other hand any comparative theme just for you Request Now 2. Vital Planning, Corporate Vision Until toward the end of last year when Hershey declared designs to patch up how it composes its business with two new key business unitsâ€one for chocolate and the other for sugar confectioneryâ€the company’s promoting association was contained five essential item gatherings and three divisions: Hershey North America, Hershey International and the Global Marketing Group. As indicated by their 2009 Annual Financial Report, this association structure permitted Hershey to benefit from special client and purchaser patterns, influence showcasing and deals authority in the US and Canada, and spotlight on key development regions in worldwide markets (Annual Report p. 2). As demonstrated by a November second, 2010 official statement, the new structure is intended to use skills for worldwide development, fortify territorial concentration with extra assets, and enlarge candy parlor buyer bits of knowledge and advancement capacities. (http://www. hehersheycompany. com/newsroom/news-discharge 1490640. aspx) In 2009, Hershey set forth their first Corporate Social Responsibility Report. In the initial sections of this report they call Corporate Social Responsibility essential to their main goal of â€Å"Bringing sweet snapshots of Hershey joy to the world consistently. † Kotler and Keller (27) battle that not exclusively should a statement of purpose be sho rt, important, significant, and suffering, it ought to furnish workers with a mutual feeling of direction, heading, and opportunity. Hershey is sensitive to these necessities. The report expounds, â€Å"Our representatives are focused on our mission†¦In the entirety of our endeavors, we are guided by our qualities, which have empowered our organization to prevail over the long haul. † Hershey’s inward showcasing technique is driven by their expressed corporate valuesâ€â€Å"One Hershey: A worldwide and different group, working with trustworthiness, cooperating, resolved to have any kind of effect (Hershey Our Values). Kotler and Keller (29) distinguish the significance of using three explicit nternal bunches toward the objective of effective procedure making: representatives with energetic points of view; workers far expelled from organization base camp; and workers new to the business. In a deliberate exertion to empower thoughts from the more youthful age, Hershey has executed an inventive methodology by setting up a Ramp;D tutoring program where new Millennial representatives are combined with experienced Boomers. Hershey perceives that Millennials have completely gotten more prominent help from their schools and families and anticipate it from their managers too. Hershey likewise has a program considered Quality Through Excellence that draws in â€Å"the generally dedicated and enthusiastic idea pioneers from everywhere throughout the organization and from various useful zones. † Among different things, these workers are accused of the obligation of gave criticism to the organization about what’s working out positively and what should be changed. Further, they have updated their exhibition the board framework to compensate representatives for their commitments to the achievement of the organization. Pulling in, Developing and Retaining Talent p11) A prevalent worth chain joins an elevated level of item quality, administration, and speed (Kotler and Keller 23). The combination of these parts permits advertisers to accomplish gainful development by, in addition to other things, building steadfastness and catching client lifetime esteem. Hershey has a progressing duty to bargain decently and morally with all gatherings in its world wide worth chain which reaches out from the ranchers who flexibly crude materials for fixings to shoppers everywhere throughout the world. They are devoted to monitoring vitality and lessening discharges all through their worth chain, starting with a far reaching activity in 2007 to decrease ozone depleting substance emanations in both their offices and their vehicle tasks. (CSR Report 26) 3. Vital Planning-Business Vision Hershey depends on solid Ramp;D endeavors to keep gaining ground in the regions of cost decrease, quality affirmation, and procedure improvement. Their innovative work activities are focused on the creation/improvement of new/existing assembling techniques. Late Ramp;D exercises have empowered Hershey to offer altered items which have ended up being a significant development driver (SWOT 2). Hershey’s capacity to gain by its inner quality in assembling keeps on profiting the organization. Another quality the organization gloats is a hearty and differing item portfolio. Be that as it may, however the organization doesn't exhibit an overdependence on a specific item fragment, it faces the danger of reliance on a solitary client. Hershey offers its items to different discount wholesalers, retail chains and supermarkets, be that as it may, in 2009 in excess of a fourth of the company’s net deals were gotten from deals to McLane Company, Inc. (SWOT 4). While Hershey has colossal chances to extend in the developing markets, explicitly in India and China where discretionary cashflow proceeds to consistently rise, the organization likewise faces the danger of a developing fake merchandise advertise. This danger not just influences deals, it influences the picture of built up brands (SWOT 4). Underperformance of fake items will have a critical negative effect on purchaser certainty. Notwithstanding the additional opposition the fake market brings, Hershey will likewise keep on observing new players enter the market. This will make a still more prominent test to minimize expenses so as to remain serious. At the point when the organization started more than one hundred years prior, it was allowed prompt accomplishment with its minimal effort, top notch milk chocolate. In spite of the fact that one of Milton Hershey’s establishing rules that has continued throughout the years is to â€Å"make and sell a top notch item at a reasonable price† (CSR Report 7), another danger Hershey fights with is changing buyer inclination. The organization is encountering changing buyer patterns toward premium and exchange up item portions (SWOT 4). † In request to adjust to the evolving commercial center, Hershey should keep on continually create, produce and market new items. 4. Showcasing Strategies In 1963 Hershey procured H. B. â€Å"Harry† Reeseâ€⠄¢s Candy Company which had been making chocolate-secured nutty spread cups since 1928. In the mid 1980s Hollywood maker Steven Spielberg met with Hershey official Jack Dowd. The two struck an arrangement and the recently created Reeses’s Pieces showed up in the unbelievable film industry hit, E. T. : The Extraterrestrial. Luckily for Hershey, the sweets partook in the achievement. (thehersheycompany. com) Early this year in Las Vegas, NV, at the 2011 Consumer Electronics Show, Hershey divulged Reese’s Minisâ€smaller opened up adaptations of Reese’s Peanut Butter Cups. As per Anna Lingeris, representative for Reese’s, â€Å"Techies at CES search out cool developments like min-tuners, smaller than usual cams, nano-mice, little consoles, and gotta-have contraptions so little you could fit a fistful in our pocket, so who says the following, large scaled down advancement can’t originate from a treats organization? (Business Wire 1/6/2011)† It is not yet clear whether this most recent Reese’s showcasing rush is a triumph, be that as it may, the recordings which parody the â€Å"unboxing† pattern in the tech world have had broad play on YouTube and over various informal organizations (Business Wire 1/6/2011). This item falls in the famous hand-to-mouth classification that, as per an ongoing Hershey introduction, by and by makes up 16% of chocolate deals (aphorism. com 10/21/10). Erin Swanson, a Morningstar examiner, brings up that this item is lower hazard since it is an expansion of a current brand rather than a totally new one. Hershey has attempted its karma with some ongoing comparable brand expansions. Demonstrated after Reese’s Pieces, early a year ago Hershey propelled Almond Joy Pieces, York Pieces and Hershey’s Special Dark Pieces. As indicated by a Hershey representative, Jody Cook, they propelled these new items in trusts they would â€Å"entice purchasers who eat the conventional structure in a private setting to share a pack of Pieces in a social setting (nytimes. om 2/17/10)†. In 2005 the organization presented treats by every one of these three brands which were completely stopped a couple of years after the fact. Hershey advanced the new item dispatch with a â€Å"wrapper reward program† which urged customers to be one of the initial 25,000 to mail in a covering from the full-size rendition of one of these confecti ons. Thusly, members got a coupon for a free sack of the littler item. Hershey depends on limited time programs like this one as an advertising methodology to animate deals of specific items at different occasions consistently (2009 Annual Report p 5). We have an assortment of limited time programs for our clients just as publicizing and special programsfor purchasers of our items. We utilize our limited time projects to invigorate deals of specific items at different occasions consistently. Our deals are ordinarily higher during the third and fourth quarters of the year, speaking to occasional and occasion related deals designs. In late 2010 Hershey uncovered designs to dispatch TV advertisements for PayDay and Hershey’s Syrupâ€two items that haven’t been advanced on TV for a decadeâ€alongside the new battle for Reese’s Minis and Hershey’s Drops. As indicated by CEO David West, this choice was made in light of the positive re

General Profile City of Kelsey Free Essays

The City of Kelsey is a very eco-accommodating network. Their objectives were to give a more secure condition to their locale. They needed to empower their personal satisfaction with wellbeing ways of life and endeavors for the earth. We will compose a custom article test on General Profile City of Kelsey or on the other hand any comparable point just for you Request Now They have natural nurseries, and plantations. They truly center around common assets and conservation. The kind of work in the City of Kelsey is a counseling firm, trucking organization, natural products of the soil, and a development organization. The prime transportation organization is Huffman trucking which ships there natural, products of the soil. Kelsey gardens runs an eatery and have positions accessible in the traveling season. They additionally have a development organization that assists Jobs with opening up for the occupants of Kelsey, for example, development, contracting, planning and building. The people group of the City of Kelsey has a yearly inflatable fest consistently, and a month to month ranchers advertise for the network. They additionally participate in the St. Patrick’s Day Parade, make fairs, and a dedication softball competition, and a yearly 10K long distance race. The inhabitants of the City of Kelsey are associated with their locale and there are bunches of exercises for all. The individuals from the network truly arrange to get things going and prop everybody up. They likewise have a mail station that offers transportation and mailing administrations for the inhabitants. There clinical focus permits you to get the correct consideration when you need it. The duties of the individuals of the City of Kelsey is to let the network since they center around ceaselessly improving and making the City of Kelsey a glad spot for all. There are such huge numbers of chances at the City of Kelsey whether it’s discovering work or Joining the little or enormous organizations of the network. Every individual from this network invests all amounts of energy to ensuring that they keep their locale clean and help everybody building up a solid way of life. The duties of the network to their people are to let them feel like they can e agreeable and associated with their locale. They offer various exercises to unite everybody as a network and simultaneously they are having a fabulous time and remaining solid. As an individual from this network being socially capable would comprise of chipping in my time and endeavors to be a piece of this network and take the necessary steps to prop it up securely and help think of new thoughts for the network to develop and turn into a piece of. The most effective method to refer to General Profile City of Kelsey, Papers

Book Riots Deals of the Day for July 24th, 2017

Book Riots Deals of the Day for July 24th, 2017 In our most recent episode of Annotated, we investigate how independent bookstores have not only survived but thrived in the age of Amazon (and it is not just people people prefer print books!).   Annotated has over 100 five star reviews on Apple Podcasts, and we think if you like podcasts (especially those like This American Life or Invisibilia and that ilk) you are going to like Annotated. We keep the episodes to around 20 minutes: short and sweet. And bookish.   Todays Featured Deals The Forty Rules of Love by Elif Shafak for $1.99. Get it here or just click the cover image below: I Thought It Was Just Me (But It Isnt) by Brene Brown for $1.99. Get it here or just click the cover image below: In Case You Missed Yesterdays Most Popular Deal: Surfacing by Margaret Atwood for $1.99. Get it here or just click the cover image below: Previous daily deals that are still active (as of this writing at least). Get em while theyre hot. Ancillary Justice  by Ann Leckie for $2.99. 10% Happier  by Dan Harris for $1.99. Kindred  by Octavia Butler for $1.99. The Fifth Season  by N.K. Jemisin for $2.99. How to Start a Fire  by Lisa Lutz for $2.99. The Passage  by Justin Cronin for $1.99. Night Film  by Marisha Pessl for $1.99. Shogun  by James Clavell for $1.99. The Notorious RGB  for $1.99. The Valley of Amazement  by Amy Tan for $1.99. The Girl with All the Gifts  by M.R. Carey for $1.99. Graceling  by Kristin Cashore for $1.99. The Rules of Civility  by Amor Towles for $3.99. Ayiti by Roxane Gay for $1.99 Dawn by Octavia E. Butler for $1.99. The Looking Glass War by John Le Carre for $1.99. The Complete Stories by Clarice Lispector for $1.99. Too Like the Lightning by Ada Palmer for $2.99. Mothers Sons by Colm Toibin for $1.99. The Birthday of the World and Other Stories by Ursula K. Le Guin for $1.99. Galileos Daughter by Dava Sobel for $1.99. Brown Girl, Dreaming by Jacqueline Woodson for $1.99. An Edible History of Humanity by Tom Standage for $1.99. Tell the Wolves Im Home by Carol Rifka Brunt for $1.99. Zen in the Art of Writing by Ray Bradbury for $1.99. After Henry by Joan Didion for $1.13. The Song of Achilles by Madeline Miller for $1.99. The Toughest Indian in the World by Sherman Alexie for $1.99. The Last Samurai  by Helen DeWitt for $1.99. The Last Policeman  by Ben H. Winters for $1.99. Notes of a Native Son  by James Baldwin for $1.99. Labyrinths  by Jose Luis Borges for $1.99. All the Birds in the Sky  by Charlie Jane Anders for $2.99. A Study in Scarlet Women  by Sherry Thomas for $1.99.. The Inexplicable Logic of My Life  by Benjamin Alire Sáenz for $2.99. We, The Drowned  by Carsten Jenson for $2.99 Big Fish  by Daniel Wallace for $1.99. The Terracotta Bride  by Zen Cho for $1.40. The Geek Feminist Revolution  by Kameron Hurley for $2.99. The Girl at Midnight  by Melissa Grey for $1.99. Cloudsplitter  by Russell Banks for $1.99. Queenpin  by Megan Abbott for $0.99. The Good Lord Bird  by James McBride for $4.99. The Comet Seekers by Helen Sedgwick for $2.99 Frog Music by Emma Donoghue for $1.99 Bitch Planet, Vol 1 for $3.99. Monstress, Vol 1 by Liu Takeda for $3.99 Paper Girls, Vol 1. by Vaughn, Chiang, Wilson for $3.99. Labyrinth Lost by Zoraida Cordova for $1.99 The Wicked + The Divine Volume 1  for $3.99 The Inheritance Trilogy by N.K. Jemisin for $9.99 The Price of Salt by Patricia Highsmith for $0.99 We Should All Be Feminists by Chimamanda Ngozi Adichie for $2.99 Sign up for our Book Deals newsletter and get up to 80% off books you actually want to read.

Essay on African Diaspora - 1818 Words

Part 1: Question one is what is the African diaspora? (Who should be considered in the African diaspora? How is this like the black Atlantic and how is it different?). Students should use the Colin Palmer piece to answer this question. In its most recognizable form, the African diaspora refers to the many cultures and societies abroad that exist throughout the world as the result of the historic movement, mostly forced, of native Africans to other parts of the globe. Most specifically, the African diaspora is the blanket term used to represent a confluence of events that led to the forced displacement of millions of innocent people. The term first originated in the 1950s and initial studies focused on the â€Å"dispersal of people of†¦show more content†¦No diasporic community manifests all of these characteristics or shares with the same intensity an identity with its scattered ancestral kin. In many respects, diasporas are not actual but imaginary and symbolic communities and political constructs; it is we who often call them into being.† (Palmer) It is essential to note that the term African Diaspora does not describe any single event, group of people or set of customs. It represents a current state of being for many citizens of the world and provides context for understanding the social structures and intercultural relationships of the world we live in today. Collin Palmer provides great insight into the context of diaspora. He writes that there have been several movements, massive migrations of people, throughout history. There is no single â€Å"diasporic movement or monolithic diasporic community† to be studied, but rather a confluence of people, events and ideologies that span thousands of years, across every continent. Each period of movement, each diasporic stream, happened for different reasons. Palmer’s approach to the African Diaspora begins with a look nearly 100,000 years into the past. He identifies five major streams, with the first African diaspora that occurred as aShow MoreRelatedThe African O f African Diaspora Essay1382 Words   |  6 PagesOver the course of four months, through my African World Survey class, I have seen a glimpse of five thousand years of African history unfold. Before entering the class, my expectations from the course was to learn where did my people come from and how did they live. Within the time I spent in the first class, I soon realized that these two questions did not have simple answers to them. Among this discovery, I learned that people in the African Diaspora makeup every aspect of the human race whetherRead MoreThe Exploitation Of Africans And Members Of The African Diaspora1635 Words   |  7 PagesThroughout American history, the exploitation of Africans and members of the African diaspora continues as a controversial topic among cultural critics because of America’s unwillingness to accept the flaws of its past. Discussions on whether the sentiments of slavery still impact people of the African diaspora are intricate. Furtherm ore, the marginalization of people of the African Diaspora continues to complexify the issue. Social concepts in modern America such as education, nationhood, fact makingRead MoreThe African Of African Diaspora1329 Words   |  6 Pages The African diaspora also known as the forced movement of primarily Western Africans to various parts of the globe including the Americas, Asia, Europe, and the Middle East. One of the most influential sectors of the African diaspora was the Trans-Atlantic trade route. According to PBS’ How Many Slaves Landed in the U.S.? â€Å"Between 1525 and 1866, in the entire history of the slave trade to the New World, according to the Trans-Atlantic Slave Trade Database, 12.5 million Africans were shipped to theRead MoreDefining Of The African Diaspora1930 Words   |  8 PagesDefining African Diaspora When defining Diaspora, many aspects can come to mind. The topic of Diaspora usually brings to mind certain ethnic groups, but that of African and African-Americans typically are not considered. Diaspora is defined as â€Å"To refer to migrants who settle in distant lands and produce new generations, all the while maintaining ties of affection with and making occasional visits to each other and their homeland.† Usually those of Jewish heritage are known for Diaspora, but aroundRead MoreColonialism and Oppression in the African Diaspora Essay2014 Words   |  9 PagesColonialism and Oppression in the African Diaspora The experiences of the women of the African diaspora are as diverse as the regions they have come to inhabit. Despite the variety in their local realities, African and African-descended women across the planet share in many common experiences. Wherever they have made their homes, these women tend to occupy inferior or marginalized positions within their societies. Whether in the United States, Europe, Latin America, or even Africa itself, blackRead More African Diaspora Essay2370 Words   |  10 Pagessimple terms, the Diaspora as a concept, describes groups of people who currently live or reside outside the original homelands. We will approach the Diaspora from the lenses of migration; that the migration of people through out of the African continent has different points of origin, different patterns and results in different identity formations. Yet, all of these patterns of dispersion and germination/ assimilation represent formations of the Diaspora. My paper will focus Read MoreAfrican Americans And African American Diaspora Studies1235 Words   |  5 Pages A question that is commonly returned to in African American diaspora studies is how much should African roots be considered in the study of African American culture, and how much influence should African heritage have on black individuals. For Columbia professor Saidiya Hartman, this question could only be answered by returning to the motherland. Through her journey to Ghana, Hartman is able to redefine her identity as an African American woman and better understand her relationship to the countryRead MoreThe Power of Self Definition in Feminism of the African Diaspora1853 Words   |  8 Pagesand used to deal with their specific and foundational problems. However, women of the African diaspora have come to deny such universality and define their own struggle. Uprooted from their motherland and sent to lands in Latin Am erica and the United States, Black women experience unique intersection of racism and sexism. Furthermore, it is through self-definition and assertion that women of the African diaspora come together to fight for freedom, justice, and equality. Whether through colonialismRead MoreThe African Of African Diaspora1733 Words   |  7 PagesThe story of the world is indeed, considered the study of African Diaspora. The term diaspora is commonly known to mean a settling of scattered colonies of people from their home country to another place. The study of African Diaspora represents a growth industry. Slavery has been a common theme throughout history. To conquer the oppression and adversity usually set into place for those whom are forced to leave their homeland, resiliency is essential. Humanity has molded and shaped the progress ofRead MoreNigerian Diaspora And The African Diaspora1256 Words   |  6 PagesI am a part of the Nigerian diaspora, one of the millions of Nigerians living in a foreign nation. I moved to the United States at the age of 8 and since then, the Nigerian culture I had known and brought with me has changed and adapted to the dominant culture of the USA. Many Nigerian families and communities abroad are f aced with the same internal struggle of holding onto their traditional cultural values, while ensuring enough adaptation into the dominant culture. Due to the diversity of nations

The American Culture of the 1950s Essay - 1887 Words

As World War Two came to a close, a new American culture was developing all across the United States. Families were moving away from crowded cities into spacious suburban towns to help create a better life for them during and after the baby boom of the post-war era. Teenagers were starting to become independent by listing to their own music and not wearing the same style of clothing as their parents. Aside from the progress of society that was made during this time period, many people still did not discuss controversial issues such as divorce and sexual relations between young people. While many historians regard the 1950s as a time of true conservatism at its finest, it could really be considered a time of true progression in the†¦show more content†¦According to Daily Life... (Kaldin, 2000) the population of suburban areas during the 1950s had started to double from 36 million to 74 million. This rise in suburban residents had continued from 1950 to 1970.When more families had started to move to suburban areas, they came together by adding things such as playgrounds, libraries, and schools to the neighborhood to benefit their kids. This â€Å"flight to the suburbs† was difficult for blacks because of the racism in society at the time. Many black people were ignored and shunned at this time in society, so it was hard for blacks to move into suburbs knowing that they could be ridiculed in these areas because of their skin color. Once working citizens had started to receive higher salaries, they could afford more and nicer items than they would have otherwise. According to Daily life†¦ (Kaldin, 2000) the average working man could buy a split-level house on display. In one year, the overage woman bought nine dresses and suits and 14 pairs of shoes. New appliances had also been invented during the 1950s. These appliances were simple in design with basic designs that reflected a new style of European modernism. The 1950s brought a â€Å"populux age â€Å"to America- a time when every appliance had handles or was easy to lift. Because of this, most appliances and technology could be moved around the house. This was just one of the advances inShow MoreRelated The Influence of American Culture in the 1950s and 1960s in Canada538 Words   |  3 Pages(the United States) have been captivating the Canadian audiences by large. American media has had a momentous revolutionizing effect on Canada, even through ef forts made to define Canada with its own cultural identity. Pop culture in the 1950s and 1960s began to spread and infest the nation from front to back through radio shows, books and magazines, television programs, and even motion pictures. Whether it is culture in terms of political affairs, clothing or the latest musical sensations, theRead MoreBritain and American Influence on Australian Pop Culture in the 1950s1333 Words   |  6 PagesThe Influence of American and British Popular Culture on Australia in the 1950s In the 1950s America and Britain influenced Australia’s popular culture in a number of ways. Although Australia’s national identity is evident in every part of popular culture, America and Britain both had a significant impact on the development of Australian culture since World War Two. Throughout out the decade they changed the way people thought about Australian fashion, music and entertainment. Fashion was basedRead MoreThe Meaning of Jazz in African American Culture Particularly in Harlem During the 1950’s2384 Words   |  10 PagesThe Meaning of Jazz in African American Culture Particularly in Harlem During the 1950’s In the Baldwin’s story, Sonny’s Blues, the author portrays African -Americans in the urban life. Even though he writes about reconciliation of two brothers, who are trying to overcome their differences and to come to understand each other, the story shows the meaning of Jazz in African American culture, particularly in Harlem during 1950. The urban life in Harlem has being described by many authors, includingRead MoreHow and Why Did American Popular Culture Influence Australian Society in the 1950s and 1960s? To What Extent Did Australia Develop its Own Response to these Influences?1595 Words   |  7 PagesThe 1950s and 1960s were times of unprecedented change, and Australian society was influenced greatly by American popular culture, through various mediums, such as: music, film, television and fashion. This especially affected teenagers. It will be explained how Australian society was impacted by American popular culture, and also why American popular culture had such an affect. Australian developed its own responses to these influences, and the extent of this will also be explored. The 1950s meantRead MoreFashion In America Essay934 Words   |  4 Pages2017 Fashion inside the American culture Many regions around the world have influenced the American culture. The United States is the third largest country in the world with more than three hundred twenty - five million people. There are many cultures in every region that shape the american culture. For instance, Native Americans, Latin Americans, Africans and Asians, according to livescience. Fashion over the years inRead MoreThe Perfect Family Of The 1950s Versus The Present Time Of Families1382 Words   |  6 PagesThe Perfect Family of the 1950s Versus the Present Time of Families Is it worth going back to the 1950s and experience the workplace of woman and men going to War or staying in the present time. Many people in today’s society see the morals and values of the past of the fifties. Nevertheless, the fifties had its nuclear family to where everyone was set for in life already. The woman became homemakers and men worked at an occupation. In the 1950s men were going to War, so the mother had to do bothRead MoreCommunism and Popular Culture Essay1510 Words   |  7 PagesTTP9 Pop Culture as History: The War Comes Home After World War II, the United States faced a malevolent philosophical dispute that had spread from within itself. Chapter nine in Thinking Through the Past is titled â€Å"Pop Culture as History: The War Comes Home† because it identifies America’s disposition over the subject of communism during the Cold War era. Historian Stephen J. Whitfield writes his secondary source entitled, â€Å"The Culture of the Cold War† which presents a detailed analysis pertainingRead MoreBook Nation : The Transformation Of Youth Culture1500 Words   |  6 Pagesaccording to Bradford W. Wright the author of Comic Book Nation: The Transformation of Youth Culture in America â€Å"Comic books are created, distributed, and sold on their own merits to a paying and overwhelmingly young audience† (Wright, 2001, p.xiv). Since the beginning of time (particularly beginning in the 1920’s), comic books have always been a creative reflection of what’s going on in popular culture. Comic books tend to perfectly depict animations that relate to current politics, historicalRead More 1950-1960 Essay1699 Words   |  7 Pages1950-1960 During the 1950s, the United States experienced great change with the end of World War II, making it difficult to label the busy decade. America was the most powerful nation in the world and it was a time of complacency. The United States accepted two new states, Hawaii and Alaska (www.fifties.com). The science world boomed with new inventions; televisions broadcast nationally; rock n roll was popular; commercial hotel and fast food chains became common; the car industry exploded;Read MoreThe World s Strongest Military Power1580 Words   |  7 PagesBy the end of World War II, it was globally evident that the United States was the world’s strongest military power. During the 1950s, the United States experienced a period of glaring economic growth, with an increase in manufacturing and nation-wide consumerism. 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Rise and Rise of Indian Fashion Retail Industry Free Essays

RISE AND RISE OF INDIAN FASHION RETAIL INDUSTRY The Indian Fashion retail industry has come a long way since its onset in the country. It is steadily taking the shape of economy booster and has grown many folds in last decade. There are a number of domestic brands like Numero Uno, Satya Paul, Pantaloons, and Provogue who have seen tremendous growth since the time they arrived in the market. We will write a custom essay sample on Rise and Rise of Indian Fashion Retail Industry or any similar topic only for you Order Now The vast opportunity has also lured international players like Burberry, Louis Vuitton, Zara, WalMart to move into the Indian Fashion Retail Industry. The potential in the sector is immense and it is just a matter of time before the Indian Fashion Retail Industry becomes internationally renowned. According to one estimate, more than 50% of the retail space in India used by Fashion industry. Apparel and textiles together is largest among the retail sectors. Combining other fashion segments like jewellery, cosmetics, accessories, watches and beauty product means that fashion makes up for more than 60% of retail sector. In department stores, fashion products account for around 95% of the total sales. The share is 70% in the Hypermarkets. In the year 2009, the value of apparel industry in India was INR 32,70,000 million. It is estimated to grow at around 11 percent and should reach INR 1,03,20,000 million by 2020. The most important factor for this steep growth and popularity of Fashion products is the huge population of our country. Also, with the rise of more and more industries there is a marked increase in the income level of people resulting in more spending power as well. People are buying fashion products more than ever before. Once the basic needs of food and shelter are met the focus shifts on trying to look and feel better. There is a noticeable growth in the number of fashion retail outlets. The Indian Fashion Retail sector consists of department stores, huge shopping malls, hypermarkets, etc. In monetary terms, the industry has fashion brands which offers affordable fashion clothing and is within the purchasing power of a common man. It also has brands offering premium fashion products which are really expensive. Introduction of online retailing has added a new dimension to the fashion retail segment and will surely help to boost the sales further. The Indian Fashion has a great future ahead and is sure to become one the biggest Industry in the country in terms of monetary power involved. Watch out for the boom. How to cite Rise and Rise of Indian Fashion Retail Industry, Essay examples

Trade Complementarities between South Korea and Vietnam

Like many other countries around the globe, Vietnam has in recent years integrated with the global economic infrastructure on an increasing scale. Being a regional neighbor and a country that shares many similarities with Vietnam, including geography, culture, among other aspects, South Korea has become a strategic economic partner of Vietnam.Advertising We will write a custom research paper sample on Trade Complementarities between South Korea and Vietnam specifically for you for only $16.05 $11/page Learn More The strategic economical capacity of South Korea to Vietnam has especially been helpful because of her ties with major global economies like the United States. In this sense, it is possible for Vietnam to Integrate with other economies through South Korea. Still, a range of parameters including South Koreas’ policies and interests, among others, have also encouraged the establishment of economic and trade relations between South Korea and Vietnam. These two countries (Vietnam and South Korea) therefore complement each other in many ways, even as they continually build increasing economic and trade relations. The complementarities between South Korea and Vietnam have helped these two countries to boost trade relations; which have grown significantly over the years. Complementarities between South Korea and Vietnam can be seen in the analysis of their history, their geographical location, policy interests among other areas. These complementarities have even been galvanized further by the entry of Vietnam into the ASEAN regional trading block and the WTO. Background Information Many economies in the Asian region have been continually soaring over the past years (Achsani 3). Countries like South Korea, China and Malaysia among others have drawn economic benefits, as their economies have adapted the concept of an open economy (Achsani 3). The so-called Asian tigers have therefore emerged from expanding economies that have been propelled by external investments and therefore, an increase in their capacities to export (Yul 81).Advertising Looking for research paper on international relations? Let's see if we can help you! Get your first paper with 15% OFF Learn More As South Korea and other Asian economies have been benefiting from foreign investments, communist policies in Vietnam, which have existed until the 90’s, and the embargo of western powers like the United States in the same period, have seen the Vietnamese economy lag (Yul 81). With the 1990’s policy reforms however, Vietnam embarked on a process of integrating with other world economies as its economy opened up to foreign investments (Yul 81). Policy changes that are favorable for economic growth and foreign investments have facilitated Vietnam’s economic integration with its regional neighbors and the global economy in general. A trend that has been growing over the years has been an integration of regio nal economies through trade agreements among other policies that have been precisely designed to bring benefits to economies bound by such agreements (Achsani 2). There has been the European Union, the ASEAN, and ECOWAS among others; which have encouraged regional economic integrations. Regional economies like the ASEAN have found a foothold to work their economies in a single direction, as their complements have become more apparent. Following policy changes in Vietnam towards an economy that is open and ready for foreign investments, South Korea and Vietnam have engaged in increasing trade and economic ties (Achsani 2). In one way, as an important ally of the United States, South Korea has acted as a foothold where western economies have been able to integrate with the Vietnamese economy through investments and trade agreements as well (Achsani 3). In the ASEAN region, Japan and South Korea are currently the most important direct investors in Vietnam (Achsani 3). South Korea and V ietnam can therefore be expected to even strengthen their trade and economic relations further, as they rediscover their relatively common history, and as their foreign policies become tailored to benefit each other in a host of ways. In an article in the East Asian Review Journal titled: Towards a Comprehensive Partnership: ASEAN-Korea Economic Cooperation, Kwon Yul analyses the complementarities that have encouraged and sustained economic cooperation between the Association of South East Nations (ASEAN) and South Korea.Advertising We will write a custom research paper sample on Trade Complementarities between South Korea and Vietnam specifically for you for only $16.05 $11/page Learn More Complementarities between South Korea and the ASEAN have seen the establishment of trade agreements as well as investments between the two (Yul 2). ASEAN and South Korea have also been able to create a multidimensional kind of a relationship, which has focused on oth er areas, apart from economic relationships. For example, Summits that have been held between the ASEAN and South Korea have created a framework for dialogue (Yul 4). Closer economic relations between the ASEAN members has compelled Korea to start exploring ways of even strengthening the ASEAN-Korean relations further, as the east Asian region accelerates towards more and more integration (Yul 3). Complementarities in the structure of industries that operate in the ASEAN and South Korea, saw trade from the ASEAN region take 10.4% of South Korea’s trade volume in 2003, becoming its fifth largest trading market (Yul 3). In the same year, ASEAN become South Korea’s third biggest investment market (Yul 3). Trade and Investment between the ASEAN and Korea have always been on an onward trend over the years, except during the East Asian financial crisis period (Yul 2). After the end of the East Asian financial crisis, trade and Investments between ASEAN and South Korea have i ncreased significantly 9 (Yul 2). For example, trade between the ASEAN and South Korea has expanded from about US$24 billion in 1998 to about US$39 billion in 2003. As at 2003, Exports from Korea to the ASEAN stood at 38% totaling to about US$20.3 billion (Yul 2). One challenge that has hindered the growth of better trade relations between South Korea and the ASEAN countries has been a consistent trade surplus from South Korea to the ASEAN; which stood at about US$8 billion at the end of 1997 (Yul 4).Advertising Looking for research paper on international relations? Let's see if we can help you! Get your first paper with 15% OFF Learn More A positive development however has been a continual decrease in South Korea’s trade surplus following the East Asian financial crisis (Yul 4). Trade balance between ASEAN and South Korea is therefore approaching a state of equilibrium. Yul’s study has explored the form and pattern of trade between the ASEAN and South Korea, which has uncovered a complementarily between the two (the ASEAN and South Korea). This complementarily can for instance, be seen in the trading of electrical and machinery items (Yul 5). A trend that has been observed by Yul is an increase in the differentiation of labor, used in the manufacture, production and marketing of electrical and machinery items (Yul 5). An increase in the differentiation of labor between the ASEAN and South Korea as has been evident in the electrical and machinery industries and other industries as well has seen an increase in trading of items within similar industries; in intra-industry trading. Trading records from KOTI S show that in 2003, machinery and electrical appliances contributed to about 43% of total of exports from the ASEAN to South Korea and about 52 percent of imports from South Korea to the ASEAN (Yul 6). Consider KOTIS 2003 trading data with that of 1993, when South Korea’s machinery and electrical exports to the ASEAN contributed to about 41% of total exports while contributing to just 18% of the total volume of machinery and electrical exports from the ASEAN to South Korea (Yul 6). Differentiation of labor leading to an increase in intra-industry trading between South Korea and the ASEAN has also resulted from a direction towards value addition efforts in the ASEAN (Yul 7). During the 1980’s and early 1990’s for example, the major component of exports from the ASEAN to South Korea were mainly mineral exports (Forming about 40% in percentage) however, as of 2003, machineries and electrical appliances have become the major export items from the ASEAN to South Kor ea (Yul 7). Such a significant shift in trading underlies a change in the form and pattern of trade between the ASEAN and South Korea, implying a differentiation of labor between the two parties as intra-industrial trading between the two increases. Yul describes the Investment relationship between South Korea and the ASEAN as one whose history has extended over many years. The first overseas investment by South Korea in the ASEAN region was in 1968, when Korea established a company in Indonesia tasked with the development of forests (Yul 8). Full Direct Investments from South Korea to the ASEAN have significantly increased especially from the 1980’s onwards, as South Korean corporations have recognized the ASEAN’s abundant natural resources and cheap labor (Yul 8). Korean corporations have therefore established bases in the ASEAN that export quality products to developed nations. Initially, in the 1980’s, most of the South Korean corporations that invested in t he ASEAN focused on industries that required large scale labor, like footwear (Yul 8). However, with the emergence of China as a supplier of a large market and cheap labor in the early1990’s, many South Korean corporations preferred investing in China, decreasing South Korean FDI in the ASEAN as a result (Yul 8). The decrease in South Korean investments in the ASEAN reversed in the mid 90’s, when many corporations re-focused in the ASEAN especially in Vietnam and Indonesia (Yul 8). This reversal was mainly catalyzed by a diversification of market needs in the ASEAN (Yul 8). Korean firms were therefore encouraged to tailor their products to the diversified market needs in the ASEAN. As of 2003, full direct investments in the ASEAN from South Korea stood at about US$510 million in about two hundred cases. Currently, most South Korean Investors have focused on manufacturing (Yul 9). Full direct investments on manufacturing from South Korea to ASEAN comprise about 61% of a ll the Investments (Yul 9). Other areas of interest for South Korean companies have been in telecommunication, retail selling, real estate, mining, and also in the construction industry. South Korea and Vietnam have lately established close economic relations in trading and investment. Although Korean Investments in Vietnam did not start earlier than 1992, Vietnam has become the most preferred area for investment in the ASEAN by South Korean corporations (Yul 9). Investments in Vietnam by South Korea comprise about 22% of the value of all the investments in the ASEAN by South Korea (Yul 9). An important dimension where economic relations between South Korea and the ASEAN have focused includes cooperation in the exchange of industrial knowledge and technology (Yul 7). The sharing of industrial knowledge between South Korea and the ASEAN has positively resulted in an array of industries that have helped to galvanize cooperation between South Korea and the ASEAN. The Asian region is qu ickly positioning itself as the largest market in the world. South Korea has therefore been working to create a framework for mutual exploitation of this market, by sharing technology with the ASEAN (Yul 7). An important resource in the ASEAN that has been of enormous benefits to South Korea is energy (Yul 9). Currently, about 67% of all the energy that is consumed in South Korea is obtained from the ASEAN (Yul 9). Available energy resources in the ASEAN will therefore continue to present more opportunities for economic cooperation between the ASEAN and South Korea. Cultural and Geographical factors have also acted to promote the economic cooperation that exists between South Korea and the ASEAN. States in the ASEAN are easily accessible to South Korea. A broad range of cultural aspects that are practiced in the ASEAN exist in South Korea as well. The practice of Buddhism and other forms of lifestyle prevalent in the ASEAN are also predominant in South Korea (Yul 9). Cultural and ge ographical ties between the ASEAN and South Korea have facilitated efforts by South Korea to strategically cooperate with the ASEAN, with an aim of clipping economical gaps between the two. Having gone through an economical struggle experience that is currently predominant in the ASEAN, South Korea has been an important ally to the ASEAN that has shared its experience and lessons with the ASEAN (Yul 9). South Korea gives about 25 percent of its loans and grants to the ASEAN (Yul 9). Since 1987 to 2003, South Korea has given the ASEAN about US$700M loans and grants for development (Yul 9). Most of the money that has been given to the ASEAN by South Korea has focused on manpower development. For example, many trainees have been airlifted to South Korea from the ASEAN to acquire important skills on the experience of South Korea in development. In an article that was published in the European Journal of Social Science, Achsani presents an analysis of similarities among states in the ASE AN to understand the feasibility of a free market in the ASEAN. The ASEAN has been encouraged by the establishment of a free market in Europe through the European Union to try and achieve the same in the ASEAN region. On paper, it is possible for economic integration through a free market to succeed when there is broad uniformity in the concerned economies (Achsani 81). Such economies can even trade by the use one type of currency, as has happened in the European Union. For an economic integration under free market to succeed, Achsani has considered a number of factors that need to be satisfied. First, for the three most stable economies with the lowest rate of inflations, the value of their inflation mean should not be exceeded at any time by more than 1.5% from the other economies (Achsani 82). Besides, for the three most stable economies that have the lowest inflations, their interest rates should not exceed those of other economies by more than 2% (Achsani 82). Moreover, there s hould be an absence of any variations in the structure of the exchange rate from all the concerned economies for at least two years before a free market can exist (Achsani 83). Still, any budget deficits from all the economies that are keen to integrate should not exceed at least 3% the value of each of their gross domestic products (Achsani 83). It is also important that the total vale of debts in each of the economies that are keen to integrate do not surpass at least 60% of their gross domestic products (Achsani 84). For an effective analysis that can detect any instability in the ASEAN economies, Achsani has considered parameters before and after the ASEAN economic crisis. A few years before the 1997 economic crisis in East Asia, the ASEAN economies were the most expanding economies in the world (Achsani 90). This trend was halted however, following the East Asian economic crisis, and in 1998, the worst economic stagnation was witnessed in the ASEAN in the previous thirty years (Achsani 90). Efforts to integrate the ASEAN economies commenced in 1967, following the formation of the Association of South East Asian Nations (Achsani 93). The ASEAN was tasked with the roles of promoting economic growth, cultural ties and peace through unified efforts of members within the ASEAN (Achsani 93). The ASEAN agreement has already succeeded in greatly enhancing economic integration of economies within the ASEAN. In 1992, a framework of progression towards free trade called ASEAN Free Trade Area (AFTA) was established (Achsani 94). The effects of AFTA in promoting trade among the ASEAN are Obvious. Three years after the inception of AFTA, the value of exports within ASEAN doubled to about US$80 billion by the end of 1995 (Achsani 94). Tourism within the ASEAN has greatly grown from the ever increasing number of tourists that travel often within the ASEAN (Achsani 95). Following the footsteps of the European Union, the ASEAN, in 2003, embarked on a journey towards the cr eation of the ASEAN Economic Community (AEC) (Achsani 95). Complete and comprehensive integration within the ASEAN has been scheduled to have been achieved by the year 2020 (Achsani 95). The intention of the AEC is to form a successful and stable economic environment within the ASEAN, where goods, capital, services and other economic materials move freely as poverty within the ASEAN is eliminated to create a society within the ASEAN that is prosperous (Achsani 95). Efforts towards a single market in the ASEAN have been boosted following the willingness of China, South Korea and Japan to join the ASEAN (Achsani 96). The result of such a union would be a very big market comprising of over three billion people. To study key complementarities that are necessary for a free market in the ASEAN to exist, Achsani collected values of some parameters present in the ASEAN economies for analysis (Achsani 96). The parameters that were collected for analysis have already been described and includ e the rate of inflation, the stability of the exchange rate, the proportion of the GDP/budget deficit, the value of the interest rate and the proportion of GDP to national debt (Achsani 96). The values of these parameters were obtained from a number of sources including the United Nations, ministries of finance and the 2007 ASEAN statistical yearbook (Achsani 96). Once the necessary data had been obtained, it was entered to a computer model that employed the Maastricht treaty method to cluster data (Data clustering and analysis is a method whereby groups of data are arranged in sub-groups called clusters by employing a method of determining the disparity in collected data that will occasion grouping in a specific cluster) and then employing the bi-plot approach (a method whereby a number of data sets are approached towards a number of variables in several ways such that the attributes of the sets in relation to the variables can be understood) to distinguish observable characteristi cs before, during and after the East Asian economic crisis (Achsani 97). Following the collection and analysis of the values of parameters that are important in integrating and creating a free economy, Achsani made the following observations in the ASEAN. During the East Asian economic crisis, Brunei and Singapore grouped in a single sub-set (cluster) (Achsani 98). After the economic crisis, Singapore exited its cluster to group with Japan, South Korea, Thailand, Malaysia and China (Achsani 98). The same trend was observed in the case of Laos, which exited its single cluster to group with Vietnam, Indonesia, Philippines, Myanmar and Cambodia. Following the end of the Asian economic crisis, China, South Korea, Thailand, Singapore and Japan merged in a single cluster (Achsani 98). Among the few countries in the ASEAN that displayed stability by remaining in a single sub-set includes Brunei, Vietnam, Philippines and Indonesia (Achsani 98). In summary, an important conclusion that Achsa ni observed was the grouping of advancing economies in single cluster and the economies that are currently developing in another single cluster (Achsani 98). Issues on economical stability, exchange rate, debt burdens among others need therefore urgent address, before the ASEAN economies can successfully integrate and travel on a road towards a free market (Achsani 98). In a Deutsche Bank Research Journal, Trinh has explored the potential of Vietnam to move into economical success and rewrite the history of South Korea, Japan, among other economies in the ASEAN. Vietnam has been taking the right gear towards economical success following policy changes that have allowed and accommodated the concept of a free and competitive economy. These policy changes, tailored to precisely encourage foreign investments and acceptance by the international community, have seen the end to imposed sanctions like the U.S embargo; which ended in 1994 (Trinh). The development of the Vietnamese economy, h owever, has not matched the fast pace of other Asian economies like South Korea, and has therefore been quite disappointing in a way (Trinh). Things might shift for Vietnam, following the increasing level of awareness among Investors on Vietnam’s potential to present its large market and enormous economic resources to investors for exploitation (Trinh). Vietnam has natural resources like oil and gas and is also a top exporter of commodities like rice, coffee and pepper (Trinh). Indeed, many investors predict that the acceleration of the Vietnamese economy is likely to compete with economic growth figures that have been witnessed in China and India beyond the next two decades (Trinh). Increase in Investments is poised to help the Vietnamese economy accelerate. Since Vietnam has close relations with the United States as well as China, its economy is likely to benefit from these two economies through diverse avenues like full direct investments (Trinh). The 2001 agreement betwee n Vietnam and the U.S. has especially soared trading between the two countries, as the Vietnamese economy has continued to expand (Trinh). Moreover, Vietnam’s investors come from a range of countries of which South Korea and Japan are important investors (Trinh). Economic areas that have been of keen interest to invest in, include tourism, information technology, manufacturing, banking as well as in infrastructure (Trinh) The Vietnamese market for goods like machineries has significantly increased in the past years. Following resilient efforts to accelerate the industrialization of the Vietnamese economy, suppliers and manufacturers of manufactured products in developed economies have been investing in Vietnam (Trinh). The current proportion of Investments in 2010 as a segment of the Vietnamese GDP is 33% (Trinh). Investors from South Korea and other developed nations will therefore continue investing in Vietnam as the Vietnamese economy accelerates. In a sense, the political orientation and the culture of the Vietnamese society is similar to the present political style and culture in China (Trinh). In both cases, the government rules through a single party that implements policies that are tailored to achieve set goals like the economic empowerment of the mass (Trinh). Such a cultural and political arrangement, where democracy has been controlled, presents an orderly and stable political environment. Investors that have been establishing bases in China have therefore found Vietnam as a viable option where the same environment that is present in China can be accessed-affordable labor and politically stable. Investors from Countries like South Korea have therefore been building their bases in South Korea to exploit the range of benefits that have been presented by the Vietnamese economy. As has been seen, Vietnam is increasingly integrating with the global economy as its economy expands amid signs of an even better potential (Anbo). South Korea has incre asingly established strong economic ties with Vietnam, especially in the areas of investments and trade. An array of South Korean companies has been moving to Vietnam even as the value of traded items between South Korea and Vietnam has been increasing (Anbo). Increasing economical ties between South Korea and Vietnam have been primarily fueled by a host of complementarities between the two economies. The geography of South Korea and Vietnam has been favorable for trade. Oceanic routes between Vietnam and South Korea are lined with many towns, especially along the coastline of china, where multiple trading can occur, facilitating trading between the two nations. It also means that ship journeys between Vietnam and South Korea are safe, with access to many ports where they can take breaks and even trade (Yeats). Besides, there is no nation in the waterway trade route between South Korea and Vietnam whose interests conflict with the interests of the two nations. In a world where the p ower of nations can suddenly shift and where new interests can emerge, creating new conflicts and hostilities between nations, it is important to broaden and diversify trade markets as much as possible (Yeats). It is therefore economically secure for countries like South Korea as well as Vietnam to increase their volume of trade in the process of diversifying their markets. Diversification of geographical markets needs to be reviewed from a multidimensional view that considers economic implications as well (Yeats). For example, prevailing economic difficulties around a major economy can adversely affect economies that trade with regions around that area. As it has been examined in the Literature Review, Vietnam is becoming a viable option to China as a source of affordable labor. Since the Vietnamese economy is mostly structured like its Chinese counterpart, where a single party government governs the nation with a capacity of implementing policies easily and quickly, Vietnam is con sidered as a politically stable state (Binh). Investors from South Korea have therefore been motivated by these two important factors-political stability and low manpower costs. South Korea has grown steadily over the years to become one of the most important Vietnamese investors (Binh). Sectors requiring intensive manpower like footwear and clothing have especially attracted a range of investors in Vietnam. Many South Korean companies in the manufacturing industry have moved to exploit inexpensive labor that is available in Vietnam by manufacturing a range of components required to complete finished products overseas in Vietnam in order to lower production costs (Yul 4). As the Vietnamese economy has continued to expand, the Vietnamese market has been expanding as well, as a direct result of the increasing economic empowerment and diversification of needs in the Vietnamese market (Binh). South Korean companies have as a result endeavored to invest in products that have been tailore d to meet the expanding and diversifying market needs in Vietnam. The current inexpensive labor in Vietnam has therefore been coupled with political stability to form a major component that has complemented South Korean economical interests to invest and trade with Vietnam (Binh). In several ways, the Vietnamese have a corresponding culture and history to that of South Korea. In both countries, the United States intervened to prevent the two societies from adopting communism in the cold war years (Binh). Thousands of American troops fought in the Korean and Vietnamese wars. Although American efforts of preserving Vietnam from communist ideologies were not as successful as in South Korea, their experiences are similar in some ways. Both wars were based on two competing ideologies-communist and capitalism and many lives were lost in the process. Current societal cultures present in South Korea and Vietnam are similar in a host of ways. For example, in both societies, Buddhism is the p redominant religious practice (Manyin). The presence of a common history and culture, at least in some aspects, have helped South Korea and Vietnam to re-discover their relations, leading to the development of stronger economic, political and cultural ties between the two nations (Manyin). Following significant policy changes in Vietnam that have allowed for an establishment of a free and competitive economy, the U.S has moved to strengthen relations with Vietnam. In 2001, the BTA (Bilateral Trade Agreement) agreement, where the U.S agreed to lower tariffs charged on Vietnamese goods by about 40%, became active (Manyin). The BTA agreements are just one of the important developments that have corresponded with increasing ties between the U.S. and Vietnam. In particular, the BTA agreement alone was directly responsible for a 1% immediate expansion of the Vietnamese GDP, apart from allowing a host of corporations from the United States to invest in Vietnam (Manyin). As an important fri end of the United States, South Korea has always played by the American foreign policies in the Asian region. Friendly relations between the United States and Vietnam have therefore enabled South Korea to likewise improve relations and cooperation with Vietnam. In general, better relations between Vietnam and the United states are helping Vietnam to implement policies and measures like transparency among others that have been helping Vietnam to integrate with the international community (Yeats). Indeed, the BTA has acted as a prelude for Vietnam to join the World Trade Union (Anbo 116). Many American companies operating in South Korea have therefore used South Korea as a foothold to venture into the Vietnamese economy. In 2006, Vietnam began a process of integrating into the World Trade union (WTO) (Anbo 118). Following agreements with the US, integration of Vietnam into the WTO is almost as good as done (Yeats). Entry of Vietnam into the WTO has acted to even strengthen trading rel ations with South Korea in several ways (Manyin). In one way, economic relations between Vietnam and the United States will become more stable and predictable as well. Such a scenario has encouraged South Korea-an ally of the United States, to likewise strengthen economic ties with Vietnam, as the last shreds of the cold war are destroyed. Agreements like the BTA that have been existing between the United states and Vietnam in an environment of improving relations between the two economies have mainly been on a renewable contract basis (Manyin). By entering into the WTO body, Vietnam will be compelled to implement WTO measures like the removal of tariffs, hence, eliminating trade barriers with other countries including South Korea (Manyin). In another way, Vietnam will benefit from protection rules that are applicable within the WTO towards member states, creating a positive and predictable investment environment in Vietnam, an environment especially important for multinational comp anies including those from South Korea. Of particular interest is an expansion of the apparel market for Vietnamese clothing in the United States, which has been continuously expanding in recent years. South Korean companies with an interest in apparel production have therefore expanded their operations in Vietnam as a result (Anbo 118). Moreover, Intellectual rights for these companies and other South Korean companies, which have been poorly protected before, are poised to be protected better under the WTO agreement, enabling South Korean companies and other multinationals to invest in Vietnam with decreased concerns over the protection of their intellectual rights (Manyin). The ASEAN agreement has particularly played a significant role in improving the volume of trade and other economic cooperation between Vietnam and South Korea (Yul 2). The main aim of the ASEAN has been to enhance economic and social development within the ASEAN though efforts by each member country in the ASEA N (Achsani 84). Following the ASEAN agreement, South Korea took steps to invest in the ASEAN, expand trade and import technology to the ASEAN (Binh). As a member of the ASEAN, Vietnam has deducted multiple gains from South Korea as a result. In 2003, the ASEAN embarked on a journey of ultimately crating a free market within the ASEAN by forming the ASEAN Economic Community (AEC) (Achsani 98). Apart from the original members of the ASEAN, Japan, China and South Korea have also been keen to integrate into the AEC (Achsani 98). The formation of the AEC has therefore enhanced trade relations between South Korea and the ASEAN including Vietnam, as South Korea has been moving to implement policies that have been tailored to ultimately create a free market in the ASEAN. Expanding trade and economic relations between South Korea and Vietnam are bringing a range of enormous benefits to both countries. By siphoning investments and trading with South Korea, the Vietnamese economy has significa ntly expanded and the scale of poverty in Vietnam has been mitigated (Nguyen). Key beneficiaries in trade include textile and footwear manufacturers, coffee producers among other investors that operate in the Vietnamese economy (Nguyen). Competition within the Vietnamese economy has increased significantly, as more investors from South Korea and other countries have been flooding into Vietnam (Nguyen). The Vietnamese economy and therefore the Vietnamese society have therefore gained in a host ways following increasing trade and economic relations with South Korea. South Korea has adopted a number of policies that have been helpful in promoting trade and economical ties with Vietnam. One factor that has catalyzed economic relations with the ASEAN including Vietnam has been the increasing trend where regional economies are increasingly integrating (Manyin). To avoid economic isolation in a region where economies are increasingly integrating for two way benefits, South Korea has been c ompelled to strengthen economic ties with the ASEAN in the areas of trade, investment as well as in technological cooperation. After all, integration of economies around an area with similar interests is a trend that has been increasing in pace around the globe. South Korea has also been keen to strengthen relations with the ASEAN in order to tackle the North Korean threat collectively with other economies in the ASEAN. Member states in the ASEAN can be a useful tool in providing a difficult environment for a hostile North Korea to operate (Anbo 143). In the same way, a union of cooperation among the ASEAN would strengthen economical and cultural ties within the ASEAN, mitigating potential intimidation from the ever increasing political and economical power of China (Anbo 144). Moreover, by investing in the ASEAN economies like Vietnam, South Korea not only avoids expanding the increasing Chinese economy, it also increases its economical capacity in a positive way by strengthening a n economy (Vietnam) that appears predictably friendly in the future. Conclusion Following policy changes including those that were tailored to precisely accommodate the free economy concept in Vietnam, the Vietnamese economy has progressively integrated with regional and global economies. In this direction of integrating with economies through increased trade and foreign investments, South Korea has seen a soaring economical relationship with Vietnam. As the shreds of the cold war have continuously dissolved, Increasing economic and political ties between Vietnam and the U.S. have enabled South Korea to adjust policy relations with Vietnam in a positive way. In the process of integrating with the global economy, Vietnam has entered gainful trading agreements particularly the ASEAN and the WTO. The ASEAN and the WTO trade agreements have helped in creating a favorable environment for South Korean companies to invest and operate in Vietnam, as trade barriers decrease and pending prese nt concerns like the protection of intellectual rights become addressed. Moreover, some developments that include the rising economical and political power of China as well as increasing hostilities from North Korea towards South Korea have acted to compel South Korea to develop friendly trading and economical policies towards Vietnam. Works Cited Achsani, Azam. â€Å"Similarity of Economic Structure among Asean+3 Economies: A Multivariate analysis based on Maastricht Treaty Criterion.†Ã‚  Ã‚  European Journal of Social Sciences 16.3 (2003): 81-98. Print Anbo, Oegyo. ASEAN-Korean Relations: Security, Trade and Community Building. Seoul: McMillan, 2006. Print Binh, Nhu. â€Å"Trade Liberalization and Foreign Direct Investments in Vietnam.†Ã‚  The Hanoi university of National Economics. Suffolk University, 12 April 2002. Web. Manyin, Mark, and Cooper J. William. â€Å"Vietnam PNTR Status and WTO Accession: Issues and Implications for the United States.† East Asian Economy. CRS press, 2 Aug. 2006. Web. Nguyen, Quang. â€Å"Vietnam gains Big from Free Trade.† The Vietnamese Ministry of  Culture and Information. Thanh Nien, 9 Oct. 2010. Web. Trinh, Amy. â€Å"Understanding Vietnam: A look Beyond the Facts and Figures.†Ã‚  Ã‚  Deutsche Bank Journal 44.2 (2007): 121-50 Yeats, Alexander. â€Å"Major Trend Trends in East Asia.† World Bank Policy Research. World Bank, 2 Jun. 2003. Web. Yul, Kwon. â€Å"Towards a Comprehensive partnership: ASEAN-Korea Cooperation.†Ã‚  The East Asian Review Journal 16(4), 2004: 2-9. 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