Epq Doc Grade C

Motivational Song for a Footballer In my project I aim to create a motivational song which will allow footballers to push themselves, I will do this by researching in football magazines, online articles and asking semi-pro footballers on their opinions to give me an insight on what components are vital in my song. Motivation is a process which controls a person’s behaviour to a certain extent, this may be in response to an occurrence e. g. Feeling hungry motivates you to eat something.I want to take advantage of this and use strategies to increase motivation and therefore drive performance. I would measure this by observing the footballers behaviour for example how he felt he performed, how long he/she lasted before fatigued, This cannot be carried out empirically because this technology is not available. Many footballers need motivation to perform well, if not they can risk losing their team a game. I want to be able to boost a footballer’s morale at times of need.Chri s Carling quotes ‘In soccer, nothing can affect performance as dramatically as a sudden loss of motivation. Without the motivation to succeed a player cannot survive the challenges soccer can throw up. ’ Liz McColgan, London Marathon Winner says â€Å"Competing successfully in any sporting event is as much about the mind as the body. I like to use music with different tempos to help me with my training – it's easy to get into the beat and helps you relax more at speed. This tells me that one song cannot be created and named the ultimate motivational songs as many songs help motivate athletes in different ways but I can try and create a song to motivate footballers to the best of my ability. I started by reading a book called ‘Damn You’re Selfish’ by Jack Spades, the most important information I got from this book was that building friendships with teammates and thinking in a ‘us’ mentality instead of ‘me’ mentality i s key for excelling performance.I will take on-board this advice and use I reference to teammates in my song to encourage this mentality and therefor increasing performance. I then asked five semi-pro footballers what motivated them to perform well. They answered team speeches and music. I then asked ‘what type of music? ’ The majority replied R;amp;B/Hip-Hop and the minority said Indie, they were no other genres stated. I gathered from this information that I would make my song an R;amp;B track that would include motivational speech. I had never reated an R;amp;B instrumental before and wanted the beat unflawed so I ask a friend of mine to create this for me, he Named the instrumental ‘Motivation’ and uploaded this to YouTube so I could download this as an MP3 format in order to add vocals to the instrumental. I used a program named ‘Audacity’ to add vocals to my song; this is a free Cross-Platform Sound Editor. I started by importing my instr umental, after listening to it repeatedly I decided to start the song off with a motivational speech to boost morale. I searched for public motivational speeches.I found a speech that was considered to be one of the best motivational speeches, I agreed. The speech was named ‘I am a champion’, I was inspired by this and therefor decided to name my song ‘Champion’, the speech already had music in the background so I could not put the speech on my song as it would create a demoralising sound clash, so I used the powerful ‘I am a champion’ chant in my chorus to give my song a sense of team spirit which from my research I have seen plays a big part in such a competitive team game. ‘Champion! ’ ‘Champion! ’ ‘I am a champion! ‘I am a champion! ’ Then wrote my lyrics around this, remembering to use motivation sentences such as ‘You’re never over’ to create emotions of self-belief.The lyri cs I wrote for this were typed on word whilst listening to the instrumental repeatedly. Here are the lyrics, the grammar has not been modified and is exactly how it was when I recorded them Reece Senior – Champion Lyrics you’re a champ don't forget it Don't try half hearted ,you'll regret it Gotta move through your darkest moments Your never over Remember Rome wasn't built in a day And where there's a will, there's a way' The same way you can be who you wanna be You lead the way and tell ‘em come follow me And if they can't keep up, up he stamina And if they're not faster, up your speed That way you can guarantee you'll have everything that you need You’re a warrior, don't let it worry ya Your 1st class football courier You here to claim you’re avengance So pay attention ‘cause glory doesn't come free Train till your legs can’t pick you up Train till your feet have the perfect touch Train till your clubmates feel the rushYou’re n ot giving up you've came to far from the bench to front of the field, Gotta keep your thoughts strong have a mind of steel Gotta keep focused ‘cause you play how you feel (And then we'll snatch victory †¦Yes we will) Working your way from the bottom to the top you can't stop you’re a champion Aching everywhere but hard work doesn't scare you you’re a champion I firmly believe that any man’s finest hour, the greatest fulfilment that all that he holds dear, is that the moment when he has worked his heart out in a good cause and lies exhausted on the field of battle – victorious †¦.. Vince LombardiI used a Samson CO1U to record my vocals, this is a USB studio condenser microphone which I used to record at home. I structured my vocals in layers to add affects such has ‘Ad Libtums’ which is where you record the same verse twice, each in a separate layer to add emphasis to my song. Two layer of the same verse, known has ad-libs Two layer of the same verse, known has ad-libs After recording the song I felt the end needed another motivational speech so I researched more speeches and came across a speech from a film names ‘Best Shot’ and decided this would be perfect to put into my song.I then recorded my self stating a motivation speech from ‘Vince Lombardi’, a successful American Football coach. After this was completed I handed it to 3 of my participants (one of them which said they preferred indie) which I questioned at the start of my project, I asked them to listen to the song whilst exercising and give me feedback on the song. They all said the song was motivational and drived them to push themselves harder.

Role Adversity Plays in Shaping Identity

Role adversity plays in shaping an individual’s identity Discuss the idea(s) developed by the text creator in your chosen text about the role adversity plays in shaping an individual’s identity. A man is insensible to appreciate prosperity until he has tasted adversity. Adverse situations shape an individual’s identity and play a significant role in one’s life by shaping personal values, determining one’s own potential and self worth. Khaled Hosseini conveys how hardships shape individuals identities through the characters of Amir, Baba, Hassan and Ali in his novel The Kite Runner. Like every individual they go through a series of incidents and hardships that shape who they become and how well they deal with struggles in life. Life is not about finding one’s own self, but about creating and learning from experiences. As one goes from childhood to adulthood and deals with the hardships of life, they grow as a person and learn from their experiences. Amir’s journey of life displays how incidents and hardships shape ones identity. Amir as the kite fighter lets Hassan the kite runner get raped by Assef due to fear, jealousy and need for love. He sacrifices Hassan for his selfish desires and the need to prove himself worthy to Baba. â€Å"I actually aspired to cowardice, because the alternative, the real reason I was running, was that Assef was right: Nothing was free in this world. Maybe Hassan was the price I had to pay, the lamb I had to slay, to win Baba. † Hassan’s rape shaped Amir’s identity and his personal values. He valued Hassan but he valued Baba’s love even more. He valued his need for acceptance more than humanity and loyalty to his friend. Rape created guilt and regrets; it shaped Amir’s personal values. After betrayal the need to belong was a struggle for Amir. He looked for ways to make Baba proud of him and searched for acceptance. It’s only natural to want to be accepted and loved however one has to decide how far they are willing to go to achieve that. Amir’s actions and decisions resulted in his loss of innocence which shaped his identity and character. Adverse situations in Amir’s life made him realize his own potential and had an effect on self worth. When Amir is at last given a way to be good again he redeems himself by becoming the kite runner. Amir goes into Afghanistan under the Taliban regime, as an adult, to rescue Sohrab. By rescuing Amir relives himself of overwhelming guilt that compounded over years. Getting beaten up by the rapist and bringing Sohrab back home makes him feel worthy. He no longer feels useless however he achieves true redemption when he becomes the kite runner instead of the kite fighter for Sohrab. By saying â€Å"For you, a thousand times over,† he amends for Baba and his sins and forgives himself. Hardships made Amir who he was since the beginning and he grew as a person by the end. Amir learned from experience and determined how adversity played a role in shaping his values, determining his potential and providing him with a feeling of self worth. Every individual learns from experience and grows as a person all together. Baba as Amir’s father also faced adversity and it shaped his identity as a person. Incidents from his past created his future and played a significant role in creating his character. Baba slept with Ali’s wife behind his back and Hassan was the living proof of his betrayal and disloyalty towards his friend. Sanaubar carrying Baba’s son created an adverse situation which teaches everyone a lesson about honor and disloyalty. All his life he had to hide the truth from the world and by keeping Ali and Hassan safe in his house he was revising for his mistakes. â€Å"I don’t care about the money or the watch. † He forgives Hassan for stealing despite the fact that he considered theft as the only crime. He was always nice to Ali because he was guilty and wanted redemption. His past affected his decisions and shaped his identity. It strengthened his personal values and made him question his self worth. Baba’s experiences with women in his life made him stronger since he stood up for a strange women’s honor on their way to Pakistan. When the Russian soldier asked for half an hour with the lady in the back Baba stood up and spoke against it. Baba had the courage due to his past experiences and adverse situations he has already faced. I will take a thousand of his bullets before I let this indecency take place. † His personal values and beliefs went against Russian soldiers demands only because incidents before have had an impact on his character and they shaped his identity. Baba constantly tries to do good deeds to redeem and perhaps forgive himself. Another example of shaping identity is society pressure. Baba’s image mattered, how other people saw him and how they treated him was a part of his personal values and self worth. Wealth, status and honor were how he was portrayed in front of society. Society pressure and judgment shaped Baba’s identity and impacted his decisions. He was ashamed to tell everyone that he is Hassan’s father, a father to a Hazzara. He did not want to lose his identity of being a Pashtun or be disrespected due to his past. Just as Amir Baba was willing to deal with guilt and regret for personal desires and searched for true redemption the rest of his life. Different people have various beliefs and their own way of doing things. Hassan was one exceptional character whose loyalty overruled all betrayals in the novel. Just as any other individuals Hassan dealt with hardships in life however Hassan’s selflessness made him far different from Amir and Baba. Hassan was illiterate and wanted to learn how to read and write. He used Amir for his personal desires, the desire to read and learn. â€Å"we sat for hours under that tree, sat there until the sun faded in the west, and still Hassan insisted we had enough daylight for one more story, one more chapter. † At that time in Afghanistan written words were no use for servants especially if they were labeled a Hazzara. Hassan being Ali’s son, who was only true for the world, had to live with being illiterate and deprived from his rights to knowledge. Difficult events and hardships shaped Hassan’s identity and life. His illiteracy was a part of him and had an impact on the decisions Hassan made in life. Hassan was naive and his innocence poured out through his actions of friendship and true loyalty. The character of Ali also conveys how situations of life shape ones identity, how they create a person and determine ones potential. Ali was Baba’s servant and that was a reason for why he was never able to speak up for justice. When Hassan was framed for stealing from Amir, Ali had the choice to tell the truth, he restrained from giving up Amir only because he gave Hassan his word. Baba and Amir were always superior and Ali’s personal values told him that it was better to leave it as it was. Ali realized his self potential then and left home with his honor and dignity. Adversity was essential for developing his self worth and Ali’s role as the servant shaped his identity and plays a significant role in his values and beliefs. Similar to Ali Hassan strengthened his beliefs through hardships and truggles, Hassan was loyal at the beginning and despite of all the betrayal and deception from Amir he stood loyal and strong until the end when he sacrificed himself once again while guarding Baba’s house. When faced with adversity, there are a select few who can push it aside for the greater good. It takes a special kind of person to do what Hassan did. He followed through his principles which s haped his character and identity. People don’t appreciate happiness and everything they have until life takes a turn and teaches a valuable lesson. Amir, Hassan, Baba and Ali’s identities and characters were shaped around adverse situations and hardships of life. Difficult situations they faced created who they were; it strengthened their personal values, determined their potential and provided the feeling of self worth. Adversity teaches one’s self that a path with no obstacles, probably doesn’t lead anywhere. It is essential for growth of an individual throughout life because sometimes in tragedy one finds his life purpose- the eye sheds a tear to find its focus.

EBI Special Order Analysis

This case study focuses on a business opportunity that has recently been offered to the Earth Baby Inc. (EBB). It concerns a business proposal that will increase the company's sales dimensions while also adding integral quality to its value chain through an alliance with a retail discount business, I. E. Great Deal Inc. (GUI).This analysis will take into consideration one or more strategic measures that should perhaps be taken by EBB in order to assist in identifying and mainlining risk and in order to insure that the proposed business agreement is in the best interest of the company. Aside from the more familiar decisional strategy which has always proven to be reliably effective, e. G. , a SOOT Analysis, an examination of the possible benefits arising from the use of an available heuristic approach that utilizes-foresight and hindsight Judgment parameters'-will be discussed.Keywords: EBB, GUI, SOOT, availability heuristic, hindsight bias, foresight knowledge The proposed opportunit y that has presented itself to EBB entails increasing the company's market share of baby food products through Geld's distribution chain and there resources. The proposed venture will offer EBB an increased profit percentage only if the company agrees to alter its current food processing formulas as well as turn-over a substantial portion of its branding rights to GUI.It is in the best interest of EBB at this time to conduct a comprehensive risk analysis with regards to the changes that will be made concerning the impact upon Bi's new product formula, new business environment and customer base along with branding techniques, marketing strategies and supply chain activities. Risk Analysis Conducting a thorough SOOT analysis would be advisable at first in order to assess Bi's internal strengths and weaknesses and how they will measure up against the- opportunities which may inadvertently turn into threats-with respects to the changes that will occur within Bi's newly adopted business environment.EBB will be challenged to weigh those resources that make up the force behind its competitive advantage(s) because it will be risking the success of its current business strategies against the sum of those changes that will impact it, should the company accept Geld's proposal (Bateman & Snell, 2009). Bi's management might consider backing up the information it garnered from a SOOT analysis with another method that examines the potential of risk involved with regard to opting for a reconfigured or otherwise entirely new and untried business strategy.A method that undertakes the available heuristic approach has been shown to provide business decisions makers with unique way -if optimal results are obtained- of incorporating intuitive Judgment-, referred to as-‘hindsight bias'- and integrating the more positive properties of this mind set with more quantifiable intellectual data referred to as -foresight knowledge'- with respects to formulating new strategies under th e constraints of various risks.This method gauges the two schools of thought by measuring and matching up- and then mapping and mathematically analyzing -the positive relationships between probable outcomes of certain risk factors, as in this case-they may pertain to and/or have- significant bearing on a number of business decisions, their outcomes, and their consequences based primarily upon their -perceived and qualitative'- susceptibility to risks.Conclusion Although at this Juncture, Bi's decision to employ the use of the availability heuristic may seem precarious, however the opportunity to identify and neutralize the risks of he proposal while also discovering some new and innovative strategies does present itself. A safer strategic analysis could be provided through the use of one or more of the conventionally known analytical tools, e. G.SOOT or Porters Five Forces. In any event it would be within Bi's very best interest to thoroughly investigate all the avenues of risks as well as opportunities before making a final decision to accept Geld's business proposal.

2 QUESTIONS IN CRIMINOLOGY Coursework Example | Topics and Well Written Essays - 500 words

2 QUESTIONS IN CRIMINOLOGY - Coursework Example And yet, he had managed to throw one of the most peaceful and stable countries in the world in a state of utter shock and disarray. An important lesson that this teaches us is that the criminal mind is constantly evolving and characterizations of criminals can change faster than we think. It is important therefore that the research continues and adapts to the changing times. (Ellis, Hartley, Walsh: 2010). Let me argue three specific reasons as to why criminal justice research is of utmost importance. First, modern technology has given criminals more weapons than ever before and also, more opportunities to commit their crimes. The internet, which just two decades ago, was not seen as a vehicle to commit crime is now a favorite haunt of criminals – from con artists embezzling money from gullible individuals, to pedophiles preying on unsuspecting children or selling child pornography, to even identity theft. Hence, if law enforcement wants to keep with the times, it has to keep abreast of this new technology. Even new ammunition, such as new bomb-making techniques, are developing by the day. Law enforcement will be at a loss if it fails to be apprised of these new developments. Second, the profiles of criminal offenders are constantly changing. For example, new research has surfaced disputing the conventional notion that crime is more often than not committed by young men. In fact, in a study published in the Journal of Criminal Justice Research it was found that â€Å"offenders aged 25 and over were responsible for the majority of the crime.† (Diplock and Pleckas: 2010: 1). Criminal justice research must be knowledgeable in these trends in order to do better law enforcement. Thirdly, criminal laws are constantly changing, and procedural due process guidelines can be different now than they were before. Hence, legal updating is in order to ensure that law enforcement officials do not overstep their boundaries or otherwise act in a manner

Occupational Health and Safety Essay Example | Topics and Well Written Essays - 500 words - 1

Occupational Health and Safety - Essay Example According to the author, smoking bans are part of public policies, which include criminal laws and regulations on occupational health and safety prohibiting tobacco smoking in workplaces or other public spaces. Moreover, smoke-free laws are solely meant to protect workers from the harmful effects of smoke from second-hand sources. These effects include higher risk of cancer, heart diseases, emphysema among others. The author affirms that laws banning indoor smoking have been implemented by many countries, with most countries citing evidence to establish the harmful effects of tobacco to smokers and inhalers of second-hand smoke. Part of the evidence brought forth to establish the harmful effects of smoking at workplaces include a study conducted in 2002 by WHO’s International Agency for Research on Cancer, which revealed that non-smokers are equally exposed to carcinogens as active smokers are. The study also indicated that side-stream smoke has 69 known carcinogens and radioactive decay products. In addition, research by tobacco companies has proven that well-established carcinogens are highly concentrated in side-stream than mainstream smoke. The Occupational Safety and Health Act (OSHA) gives workers the right to enjoy a safe workplace free of hazards. OSHA has air quality standards. Tobacco smoke, however, hardly exceeds these limits. In extreme situations – such as when tobacco smoke mixes with another airborne component in the workplace – OSHA standards could be exceeded thereby requiring the employer to correct the situation. Several lawsuits have been filed seeking employer compensation for smoke hazards. The current position is that OSHA does not regulate exposure to tobacco smoke; state laws do. The author may be on the frontline in advocating smoke-free workplaces, but he failed to consider the possible demerits of the same. Firstly, smoke-free workplaces will necessitate a change in worker habits, which

Comment each essay alone by itself Example | Topics and Well Written Essays - 1000 words

Comment each alone by itself - Essay Example The section "benefits of knowing your cash position" does not clearly highlight the benefits. It only gives the three main areas of a cash flow statement. Although these areas do indirectly highlight the benefits of knowing your cash position, perhaps mentioning a few other benefits would have added further clarity. The following benefit, for instance, could have been added: Companies that know their cash position well are in a much better situation to provide their stakeholders with better information that they need to assess the financial well being of the company. This in turn maybe important when a company is trying to obtain a loan and needs to provide its cash position to the lender. Similarly, other stakeholders such as investors, stockholders, customers, etc. may also require this information. No example is mentioned when explaining the third area of the cash flow statement: Cash from financing activities. The Microsoft example should be extended to clarify this section of the cash flow statement as well. This essay does not completely explain how cash is the life blood of any business. The importance of cash and preparing cash flow statements has only been inadequately explained in the beginning. The word "life-blood" has not been emphasized. In other words, the writer has only explained how cash can aid businesses and help different forms of business better predict their cash needs and perform their tasks well. However, the writer has failed to illustrate that before helping businesses, more important is the fact that cash is a necessity- a source of survival for businesses and they not only need cash to help them do their tasks better but they need cash to survive-it's a "have cash or die" situation. I believe highlighting this point is essential considering the topic of this essay requires an explanation of how cash is the life blood of any business. The conclusion only mentions the importance of cash flow statements and not cash in general even though the tag line of the topic only mentions cash. There is no mention of cash flow statement in the tag line. Although cash flow statements ultimately boil down to the importance of cash, mentioning the importance of cash in general and not specifically cash flow statements would have been more appropriate.Essay 3 (Nadrah): Although the essay starts with a quotation, the writer directly jumps off to explaining cash flow statements. Perhaps explaining one or two lines about the importance of cash in general and cash being the life blood of any business would have been more appropriate. The essay mentions a very strong point: " all the three statements above, when integrated, are required to make and support interrelated financial decisions." This point has been explained and elaborated extremely well and could not have been done with any more perfection. There are some concepts that have not been explained too well. Consider, for instance, the concept of free cash flow hypothesis. The writer only states that "According to the free cash flow hypothesis, managers may choose to expand operations because their incentives are not aligned with firm value maximization." This explanation is not by itself

Manager's Hot Seat #2-Listening Skills Essay Example | Topics and Well Written Essays - 250 words

Manager's Hot Seat #2-Listening Skills - Essay Example Since the issue at hand is critical and affects the business relationship with its customers, Pilar should restate the problem in a forceful manner. Given the lightness Miguel takes the case, the manager should enforce the message repeatedly in an attempt to justify the wrongness of Miguel’s action and ensure the practice does not surface in the future. Another alternative is firing the employee for the lack of competence and ignorance. It is evident that Miguel failed to communicate the budget overuse to the client because she believes that $11,000 is a drop in the ocean. In business dealing, this is suicidal and reflects incompetence and exploitation for customers with financial stability. In the second scenario, the communication between the two improves once Miguel pays attention to the seriousness of the matter. As a result of Pilar’s anger, Miguel becomes fearful and attentive resulting in a better communication. Miguel is afraid that he might lose a potential customer due to ignorance. At this stage, the manager should reaffirm his trust in the worker by showing concern and affirming that the issue would be solved professionally without potential risk to the employee. However, he should also a stern warning against going beyond the set budget without proper communication and agreement with the manager and the client. In the modern dynamic and competitive business world, communication takes a central role in the success of a company. For this reason, manager, workers, and customers need to have adequate listening and speaking skills to facilitate an efficient

Gift-Giving and Exchange as an Important Element in Japanese Society Essay

Gift-Giving and Exchange as an Important Element in Japanese Society - Essay Example It is evidently clear from the research that along with the Confucian values, wrote Ilchman, Katz, and Queens, in particular, the value of humaneness, such obligation extend outwards to teachers, relatives, close neighbors and business associates. Japanese companies, for instance, allocate funds for equitable compensation to employees for ceremonial events or kankonsosai. Such importance given to the exchange of gifts allows the act to pervade in Japanese ceremonies and customs that is why it reveals a wealth of information in regard to Japanese rituals. There are four classifications of occasions or instances when gift-giving is required among the Japanese: life-cycle ceremonies, gift-giving occasions regulated by the calendar, emergencies that cause sudden deprivations and special events that call for prompt gift-giving. These occasions are diverse and are consistently well defined, and most importantly for this study, associated with particular rituals. They also entail Japanese p rinciples that are the basis of rituals and ceremonies. These include the concepts of obligation, duty, reciprocity, among others. Gift-giving is a prominent element in life-cycle ceremonies or â€Å"rite of passage† events and therefore provide a wealth of insights on the rituals that define these stages and the growth phases between them. As it is, people are preoccupied with gift-giving in birth, marriage, and death of people as well as in education, wedding anniversary, etc. In so many instances, gift-giving becomes a means of exchange –a kind of exchange that articulates obligation. For instance, during a wedding, there is normally a table outside of the hall where the wedding takes place. Young people sat behind this table and they are tasked to collect the money contained in envelopes given by arriving guests. What is interesting, perhaps for most foreigners, is that the amount contained in the envelope is strictly recorded along with the name of its giver.

Organizational Culture and Leadership Essay Example | Topics and Well Written Essays - 2500 words

Organizational Culture and Leadership - Essay Example Trader Joe’s focuses upon certain significant aspects which include great quality and prices of food. In this regard, the company strongly believes that by maintaining the aforesaid features, it can attain considerable value of the customers. The official headquarter of the company is positioned in California, U.S. The vision of the company is to provide superior quality products to its customers through engaging skilled and committed employees. Moreover, the mission of the company is to raise the satisfaction level of the customers by offering best quality food as well as beverages with cheap prices and also to deliver relevant product related information to the customers in order to take effective buying decisions. It has been apparently observed that there are more than 2,000 unique grocery items in its stores which are offered to the customers regularly (Trader Joe's., 2012). B. Description Of The Problem At present, Trader Joe’s faces certain crucial problems regar ding the expansion of its existing customer base and the maintenance of competiveness with the new business market entrants similar to its industry such as Whole Foods, Fresh & Easy and Sprouts. These companies are considered to be the main rivalries or the major business market competitors which sell similar kinds of products in the same geographical provinces. All these competitors maintain a unique culture like Trader Joe’s and also intends to invest substantially for increasing productivity as well as profitability by a considerable level. By taking into consideration the aforementioned problems, certain important questions may arise. The questions include â€Å"Is Trader Joe’s unique culture is strong enough to survive and tackle with these newly emerged competitive threat?† or â€Å"How Trader Joe’s product act as a substitute as compared to the product of its rivalries†? Moreover, another important question may also arise i.e. â€Å"What ne cessary activities or strategies should adopt by Trader Joe’s in order to maintain its competitiveness and to accomplish significant competitive position over its chief business market competitors†? II. Assessment of the Problem Using Class Concepts A. Problem from Standpoint of Organizational Culture Trader Joe’s is regarded to be one of the most sophisticated retail grocery chain stores in the world. The imperative activities such as the execution of enhanced operational procedures through implementing effective business models and the maintenance of a unique organizational culture ultimately supports the company to attain its predetermined busies objectives. Moreover, the factors also assist the company to provide excellent services as well as better quality products to its customers (Madu, 2012). Generally, in order to build a competent organizational culture; companies always prefer to hire â€Å"Crew Members† for improving the operational performance of the employees. The companies employ the â€Å" Crew Members† in order to deliver effective training programs to their employees concerning various topic which include teamwork, product knowledge and leadership skills. It has been apparently observed that more than 70% of the part-time employees of Traders Joe’s operate their functions under the supervision of the â€Å"Crew Members†. The role of these â€Å"Crew Members† is to provide detail report regarding the sale of products to the Assistant Store Manager of the

Management Study Guide Essay Example for Free

Management Study Guide Essay Commanding Heights: Episode 3 (Chapters 11-14); available at online at http://www.pbs.org/wgbh/commandingheights/lo/story/index.html With communism discredited, more and more nations harness their fortunes to the global free-market. China, Southeast Asia, India, Eastern Europe and Latin America all compete to attract the developed worlds investment capital, and tariff barriers fall. In the United States Republican and Democratic administrations both embrace unfettered globalization over the objections of organized labor. But as new technology and ideas drive profound economic change, unforeseen events unfold. A Mexican economic meltdown sends the Clinton administration scrambling. Internet-linked financial markets, unrestricted capital flows, and floating currencies drive levels of speculative investment that dwarf trade in actual goods and services. Fueled by electronic capital and a global workforce ready to adapt, entrepreneurs create multinational corporations with valuations greater than entire national economies. When huge pension funds go hunting higher returns in emerging markets, enterprise flourishes where poverty once ruled, but risk grows, too. In Thailand the huge reservoir of available capital proves first a blessing, then a curse. Soon all Asia is engulfed in an economic crisis, and financial contagion spreads throughout the world, until Wall Street itself is threatened. A single global market is now the central economic reality. As the force of its effects is felt, popular unease grows. Is the system just too complex to be controlled, or is it an insiders game played at outsiders expense? New centers of opposition to globalization form and the debate turns violent over who will rewrite the rules. Yet prosperity continues to spread with the expansion of trade, even as the gulf widens further between rich and poor. Imbalances too dangerous for the system to ignore now drive its stakeholders to devise new means to include the dispossessed lest, once again, terrorism and war destroy the stability of a deeply interconnected world. The Bush Bailout Plan (Rounds 1 and 2) Round 1: Allow the Treasury to borrow up to $700 billion to buy mortgage-related assets from US financial institutions over the next 2 years. –May stabilize the capital markets ( could protect investment and retirement funds) – MAY stabilize housing prices. Consequences of doing nothing: -Small businesses will fail. -Companies may not be able to make payroll -People, even those with good credit records, may not be able to get credit for mortgages, car loans, student loans, or credit cards. -People will lose jobs. Round 2: Same deal: with same possible benefits. House version of the bill: $350 billion upfront; $350 billion later unless congress holds it back. -NO new golden parachutes if the institution sells more than $300 million in assets -Must try to â€Å"claw back† past bonuses if based on misleading financial statements -No golden parachutes when the treasury has ownership stake in the firm (.ie., it is failing). Defined Contribution Retirement Plans – A defined contribution plan provides an individual account for each participant. The benefits are based on the amount contributed into the plan and are also affected by income, expenses, gains and loses. There are no promises of a set monthly benefit at retirement. Some examples of defined contribution plans include 401(k) plans, 403(b) plans, employee stock ownership plans and profit sharing plans. Contagion The tendency to spread, as of a doctrine, influence, or emotional state. When one nations economy is negatively affected because of changes in the asset PRICES of another country’s financial market Foreign Direct Investment – Is when a firm invests resources in facilities to produce and/or market a product in a foreign country. Horizontal FDI versus Vertical FDI Horizontal FDI: investment in the same industry in which a firm operates at home. Vertical FDI: investment in an industry that provides inputs for a firm’s domestic operations or that sells the outputs of the firm’s domestic operations. Backward Vertical FDI versus Forward Vertical FDI- Backward vertical FDI: an investment in an industry abroad that provides inputs for a firm’s domestic production processes. Forward Vertical FDI: an investment in an industry abroad that sells the outputs of a firm’s domestic production processes. BACKWARD vertical means that there are more places to help build the product. Stock versus Flow of FDI – Stock flow is the total accumulated value. Flow of FDI is the value over time. Gross Fixed Capital Formation GFCF is a flow value. It is usually defined as the total value of additions to fixed assets by resident producer enterprises, less disposals of fixed assets during the quarter or year, plus additions to the value of non-produced assets (such as discoveries of mineral deposits, or land improvements). Greenfield Investment – Establishing a new operation Acquisition – When one firm buys an interest in another firm Merger – When two firms agree to integrate their operations on a relatively co-equal basis. Exporting – The sale of products produced in one country to residents of another country Licensing – when one firm (the licensor) grants the right to produce its product, use its production processes, or use its brand name or trademark to another firm (the licensee) Tacit versus Codified Knowledge – Tacit knowledge: information that is intuitive and difficult to articulate or codify in writing. (Can be gained through personal experience or interaction. Shared knowledge might be dispersed throughout the company.) Theoretical Explanations for FDI: Transportation Costs, Market Imperfections, Strategic Behavior, Product Life Cycle, and Location-Specific Advantages Impediments to the Sale of Know-How Impediments to the sale of know-how explain why firms prefer horizontal FDI to licensing. These impediments arise when: (a) a firm has valuable know-how that cannot be adequately protected by a licensing contract, (b) a firm needs tight control over a foreign entity to maximize its market share and earnings in that country, and (c) a firms skills and know-how are not amenable to licensing. Multi-Point Competition Arises when two or more enterprises encounter each other in different regional markets, national markets, or industries. The Radical, Free Market and Pragmatic Nationalism Views of FDI Benefits and Costs of FDI for a Host Country – Resource transfer effects, employment effects, balance of payments effects, effect on competition and economic growth. Host country benefits from initial capital inflow when MNC establishes businessFINANCIAL CREDIT Host country benefits if FDI substitutes for imports of goods and servicesCURRENT ACCOUN TCREDIT Host country benefits when MNC uses its foreign subsidiary to export to other countriesCredit on CURRENT ACCOUNT Resource-Transfer Effects: Capital, Technology and Management Employment Effects: Direct, Indirect, Substitution, and Acquisition Restructuring – -Mergers and acquisitions are quicker to execute. -Foreign firms have valuable strategic assets that would be risky and time consuming to develop. -Acquiring firm believes it can use its core competencies to increase the efficiency of the acquired firm. Balance-of-Payments Effects of FDI for the Home and Host Countries – Home country – The balance of payments account is improved by the inward flow of repatriated earnings. The balance of payments account is improved if the foreign subsidiary needs home country equipment, component parts, etc. National Sovereignty Sovereignty is the exclusive right to control a government, a country, a people, or oneself. A sovereign is the supreme lawmaking authority. Benefits and Costs of FDI for a Home Country – Balance of payments effects, employment effects. Home Country Policies to Encourage and Restrict Outward FDI – Restrict: Limits on capital outflows, tax incentives to invest at home, Nation-specific prohibitions Encourage: Foreign Risk Insurance, Capital Assista nce, Tax Incentives to Invest Abroad, Political Pressure. Host Country Policies to Encourage and Restrict Inward FDI – Restrict: Ownership Restraints Encourage: To gain from the resource-transfer and employment effects of FDI, to capture FDI away from other potential host locations. Performance Requirements – An expectation placed on a foreign direct thingy requiring them to do certain things like having some local employees. Basically, this puts restrictions on them like local production requirements. Regional Economic Integration –refers to agreements among countries in a geographic region to reduce and ultimately remove, tariff and non-tariff barriers to the free flow of goods, services, and factors of production between each other. Levels of Economic Integration: Free Trade Area: Remove internal Barriers Customs Union: Common External Barriers Common Market: Free Movement of Factors Economic Union: Common Economic Policy Political Union: Political Integration The Case for and the Case against Regional Integration â €“ For: Increases world production, stimulates growth, regional economic integration can provide additional gains from free trade beyond the international agreements such as GATT and TWO. Against: a regional trade agreement is beneficial only if it creates more trade than it diverts. Impediments to Regional Integration – Nation as a whole may benefit but certain groups within countries may be hurt. Concerns about loss of national sovereignty and control over the nation’s sovereignty and control over the nations monetary, fiscal and trade policies. Trade Creation versus Trade Diversion – When an inefficient non member nation replaces an efficient member nation (NAFTA). Like Mexico replacing China in the textile business. Creation: occurs when free trade leads to the substitution of inefficient domestic production for efficient production in another member country. Diversion: Occurs when efficient non-member production is replaced by inefficient production by a member nation as a result of high trade barriers for non-members. The European Union (EU) – is composed of 27 member countries, covers an area of 4 million square kilometers and has approximately 460 million inhabitants. The EU’s member states combined represent the world’s largest economy by GDP, the seventh largest territory in the world by area and the third largest by population. Political Structure of the European Union: European Commission, Council of the European Union, European Parliament and Court of Justice Optimal Currency Area In economics, an optimum currency area (OCA), also known as an optimal currency region (OCR), is a geographical region in which it would maximize economic efficiency to have the entire region share a single currency. It describes the optimal characteristics for the merger of currencies or the creation of a new currency. Copenhagen Criteria – are the rules that define whether a nation is eligible to join the European Union. The criteria require that a nation have the institutions to preserve democratic governance and human rights, a functioning market economy, and that the nation accept the obligations and intent of the EU. The Lisbon Treaty The Treaty of Lisbon (also known as the Reform Treaty) is a treaty designed to streamline the workings of the European Union (EU) with amendments to the Treaty on European Union (TEU, Maastricht) and the Treaty establishing the European Community (TEC, Rome), the latter being renamed Treaty on the Functioning of the European Union (TFEU) in the process. The stated aim of the treaty is to complete the process started by the Treaty of Amsterdam and by the Treaty of Nice with a view to enhancing the efficiency and democratic legitimacy of the Union and to improving the coherence of its action. The North American Free Trade Agreement (NAFTA): Pros and Cons of NAFTA – Pros: Labor intensive industries move to Mexico, resulting in better resource allocation, Mexico gets investment and employment, increased Mexican income to buy US/Canadian goods, demand for goods increases jobs, consumers get lower prices. Cons: Loss of jobs to Mexico for people who don’t have other employment options, Mexican firms have to compete against efficient US/Canadian firms, environmental degradation, loss of national sovereignty. The Andean Community The Andean Community is mainly a trade block formerly called the Andean Group (Grupo Andino, in Spanish) which saw light after the Andean Pact (Pacto Andino) or more formally the Cartagena Agreement (Acuerdo de Cartagena) was signed in 1969, in Cartagena (Colombia). Mercado Comà ºn del Sur (MERCOSUR) Argentina, Brazil, Paraguay, Uruguay, and Venezuala. Was originally envisioned as a common market but has yet to reach that goal. Critics contend the agreement results in more trade diversion than trade creation as a result of the high external tariffs. Free Trade Area of the Americas –was a proposal to expand NAFTA to include all countries in the Western Hemisphere, except Cuba. This region has 850 million people and a $13.5 trillion economy. Talks are stalled and stronger support would be needed by the USA and Brazil for this agreement to become a reality. Association of Southeast Asian Nations (ASEAN) / ASEAN Free Trade Area – Indonesia, Malaysia , Philippines, Singapore, Thailand, Brunei, Vietnam, Laos, Myanmar, and Cambodia. Total population of 500 million, GDP of US $740 billion, and a total trade of US $720 billion A free trade area among some of the nations exists, but several nations are refusing to lower all tariffs. Asia-Pacific Economic Cooperation (APEC) – Founded in 1990 to promote open trade and economic cooperation. Currently has 21 members including the United States, Japan and China. Members account for 57% of the world’s GNP and 46% of global trade. Despite little progress, it could potentially become the world’s largest free trade area. Fiscal versus Monetary Policy Market economies have regular fluctuations in the level of economic activity which we call the business cycle. It is convenient to think of the business cycle as having three phases. The first phase is expansion when the economy is growing along its long term trends in employment, output, and income. But at some point the economy will overheat, and suffer rising prices and interest rates, until it reaches a turning point a peak and turn downward into a recession (the second phase). Recessions are usually brief (six to nine months) and are marked by falling employment, output, income, prices, and interest rates. Most significantly, recessions are marked by rising unemployment. The economy will hit a bottom point a trough and rebound into a strong recovery (the third phase). The recovery will enjoy rising employment, output, and income while unemployment will fall. The recovery will gradually slow down as the economy once again assumes its long term growth trends, and the recovery will transform into an expansion. Foreign Exchange Market –a market for converting the currency of one country into the currency of another. Exchange Rate – the rate at which one currency is converted into another. Foreign Exchange Risk – the risk of an investment’s value changing due to changes in the currency exchange rates. Arbitrage – the purchase of a product in one market for immediate resale in a second market in order to profit from a price d iscrepancy. Currency Speculation – short-term movement of funds from one currency to another in hopes of profiting from shifts in exchange rates. Spot Exchanges –the exchange rate at which a foreign exchange dealer would convert one currency to into another currency on that day. Forward Exchanges – the exchange rate at which a foreign exchange dealer will agree to convert one currency into another currency on a specific date in the future. Hedging: Forward Contracts versus Options Selling on a Discount versus Selling at a Premium Currency Swaps A currency swap (or cross currency swap) is a foreign exchange agreement between two parties to exchange a given amount of one currency for another and, after a specified period of time, to give back the original amounts swapped. Economic Theories of Exchange Rate Determination – Law of One Price The law of one price is an economic law stated as: In an efficient market all identical goods must have only one price. The intuition for this law is that all sellers will flock to the highest prevailing price, and all buyers to the lowest current market price. In an efficient market the convergence on one price is instant. Purchasing Power Parity The purchasing power parity (PPP) theory uses the long-term equilibrium exchange rate of two currencies to equalize their purchasing power. Developed by Gustav Cassel in 1920, it is based on the law of one price: the theory states that, in an ideally efficient market, identical goods should have only one price. Big Mac Index The Big Mac Index is an informal way of measuring the purchasing power parity (PPP) between two currencies and provides a test of the extent to which market exchange rates result in goods costing the same in different countries. As stated in The Economist, it seeks to make exchange-rate theory a bit more digestible In 120 nations the big mac is the same. How Increasing the Money Supply Impacts Exchange Rates Price Discrimination Price discrimination or yield management occurs when a firm charges a different price to different groups of consumers for an identical good or service, for reasons not associated with costs. Fisher Effect / International Fischer Effect Real versus Nominal Interest Rates 8% interest + 2%inflation = 10% nominal interest. $100 on $1000 loan. Investor Psychology and Bandwagon Effects The Efficient Market School versus the Inefficient Market School – Efficient: Those who believe the foreign exchange market actually predicts things accurately. Fundamental versus Technical Analysis Currency Convertibility: Freely, Externally, and Nonconvertible Currencies Capital Flight Capital flight, in economics, occurs when assets and/or money rapidly flow out of a country, due to an economic event that disturbs investors and causes them to lower their valuation of the assets in that country, or otherwise to lose confi dence in its economic strength. This leads to a disappearance of wealth and is usually accompanied by a sharp drop in the exchange rate of the affected country (depreciation in a variable exchange rate regime, or a forced devaluation in a fixed exchange rate regime). Transaction versus Translation versus Economic Exposure – Economic exposure: the extent to which a firm’s future international earning power is affected by changes in exchange rates. Lead versus Lag Strategies – Lead: an attempt to collect foreign currency receivables when a foreign currency is expected to depreciate. Lag: An attempt to delay the collection of foreign currency receivables if that currency is expected to appreciate. Delay paying foreign currency payables if the foreign currency is expected to depreciate. International Monetary System – are institutional arrangements countries adopt to govern exchange rates. Exchange Rate Regimes: Formal Dollarization, Fixed, Currency Boards, Pegged, Dirty/Managed Floats and Independently Floating – The Gold Standard – Pegging currencies to gold and guaranteeing convertibility is known as the gold standard. Gold Par Value – The amount of a currency in an ounce, one ounce of gold was referred to as the gold par value. The Bretton Woods Exchange Rate System Created a fixed exchange rate system where the countries agreed to peg their currencies to the US dollar which was convertible to gold at $35 an ounce. Countries agreed to defend the value of their currencies to within 1% of par value. Currency, Banking and Foreign Debt Crises – Currency speculators believed that the devaluation of the dollar was inevitable. President Nixon dropped the gold standard conversion and the dollar was devalued. Following a second round of speculative attacks, the US dollar was allowed to float against other world currencies. Concerns about the IMF’s Policy Prescriptions – The system of adjustable parities allowed for the devaluation of a country’s currency by more than 10 percent if the IMF agreed that a country’s balance of payments was in â€Å"fundamental disequilibrium.† Moral Hazard – arises when people behave recklessly because they know they will be saved if th ings go wrong. Capital Market The capital market is the market for securities, where companies and governments can raise longterm funds. The capital market includes the stock market and the bond market. Financial regulators, such as the U.S. Securities and Exchange Commission, oversee the capital markets in their designated countries to ensure that investors are protected against fraud. The capital markets consist of the primary market, where new issues are distributed to investors, and the secondary market, where existing securities are traded. Cost of Capital The cost of capital is an expected return that the provider of capital plans to earn on their investment. Initial Public Offering Initial public offering (IPO), also referred to simply as a public offering, is when a company issues common stock or shares to the public for the first time. They are often issued by smaller, younger companies seeking capital to expand, but can also be done by large privately-owned companies looking to become publicly traded. Commercial Banks versus Investment Banks Equity Loan: An equity loan is a mortgage placed on real estate i n exchange for cash to the borrower. For example, if a person owns a home worth $100,000, but does not currently have a lien on it, they may take an equity loan at 80% loan to value (LTV) or $80,000 in cash in exchange for a lien on title placed by the lender of the equity loan. Debt Loans: A loan is a type of debt. This article focuses exclusively on monetary loans, although, in practice, any material object might be lent. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower. Corporate Bonds A Corporate Bond is a bond issued by a corporation. The term is usually applied to longer-term debt instruments, generally with a maturity date falling at least a year after their issue date. Systematic Risk In finance, Systemic Risk is that risk which is common to an entire market and not to any individual entity or component thereof. It can be defined as financial system instability, potentially catastrophic, caused or exacerbated by idiosyncratic events or conditions in financial intermediaries[1]. It refers to the movements of the whole economy and has wide ranging effects. It is also sometimes erroneously referred to as systematic risk. Portfolio Diversification – By using the global capital market, investors have a much wider range of investment opportunities than in a purely domestic capital market. The most significant consequence of this choice is that investors can diversify their portfolios internationally, thereby reducing their risk to below what could be achieved in a purely domestic capital market. Drivers of the Global Capital Market: Information Technology: Financial services is an information-intensive industry. It draws on large volumes of information about markets, risks, exchange rates, interest rates, creditworthiness, and so on. It uses this information to make decisions about what to invest where, how much to change borrowers, how much interest to pay to depositors, and the value and riskiness of a range of financial assets including corporate bonds, stocks, government securities, and currencies. Deregulation: Many restrictions have been crumbling in the US since the early 80s. In this part, this has been a response to the development of the Eurocurrency market, which from the beginning was outside of national control. Hot Money: In economics, hot money refers to funds which flow into a country to take advantage of a favorable interest rate, and therefore obtain higher returns. They influence the balance of payments and strengthen the exchange rate of the recipient country while weakening the currency of the country losing the money. These funds are held in currency markets by speculators as opposed to national banks or domestic investors. As such, they are highly volatile in Mexico and East Asian financial crisis. Patient Money: Selling land in large blocks under frontier conditions is to sell at a time before it begins yielding much if any rent. It is bid in by those few who have large discretionary funds of patient money. Eurocurrency Eurocurrency is the term used to describe deposits residing in banks that are located outside the borders of the country that issues the currency the deposit is denominated in. For example a deposit denominated in US dollars residing in a Japanese bank is a Eurocurrency deposit, or more specifically a Eurodollar deposit. Attractions and Drawbacks of the Eurocurrency Market Attractions: Lack of government regulation. Drawbacks: When depositors use a regulated banking system they know that the probability of a bank failure that would cause them to lose their deposits is very low. Secondly, borrowing funds internationally can expose a company to foreign exchange risk. Reserve Requirements The reserve requirement (or required reserve ratio) is a bank regulation that sets the minimum reserves each bank must hold to customer deposits and notes. These reserves are designed to satisfy withdrawal demands, and would normally be in the form of fiat currency stored in a bank vault (vault cash), or with a central bank. Foreign Bonds vs. Eurobonds: A Eurobond is an international bond that is denominated in a currency not native to the country where it is issued. It can be categorised according to the currency in which it is issued. London is one of the centers of the Eurobond market, but Eurobonds may be traded throughout the world for example in Singapore or Tokyo. Attractions of the Eurobond Market – Absence of regulatory interference. Less stringent disclosure requirements than in most domestic bond markets. A favorable tax status. The Impact of Exchange Rate Risk on the Cost of Capital Benefits and Costs of Financial Globalization Inter-Temporal Trade – Consumption smoothing usually between advanced economies and developing economies. Developing economies need money NOW. Capital Mobility The ability of money to cross national borders. The free flow of money in and out of a country. Impossible Trinity The Impossible Trinity (also known as the Inconsistent Trinity, Triangle of Impossibility or Unholy Trinity) is the hypothesis in international economics that it is impossible to have all three of the following at the same time: Exchange Rate Stability, Independent Monetary Policy, and Capital Mobility. You can only have 2 of these 3 things at the same time ever. The Exchange Rate is simply the relative price of currencies. For example: It tells you how many Euros you can get for a dollar. A government has to main monetary policies it can use: The Fiscal Policy, or the Monetary Policy The Fiscal Policy concerns government expenditures and tax collection The Monetary Policy concerns the interest rate in the economy. The interest rates are established to help stabilize the economy.

Control system for microgrid

Control system for microgrid Abstract In this study an example of a microgrid composed of diesel generator and two uninterruptable power supply systems is considered. This microgrid installed in the three buildings of the Tallinn University of Technology. This paper deals with how to implement a distributed control and monitoring system based on the Ethernet network in the microgrid. The paper describes a control strategy to implement both grid connected and islanded operation modes of the microgrid. Keywords Control system, diesel generator, microgrid Introduction Distributed generation (DG) is becoming an increasingly attractive approach to reduce greenhouse gas emissions, to improve power system efficiency and reliability, and to relieve todays stress on power transmission and distribution infrastructure [1]. Distributed generation encompasses a wide range of prime mover technologies, such as internal combustion engines, gas turbines, microturbines, photovoltaic, fuel cells and windpower [32]. A better way to realize the emerging potential of DG is to take a system approach which views generation and associated loads as a microgrid [21]. Microgrid is a concept of defining the operation of distributed generation, in which different microsources operate as s single controllable system that provides power and heat to a cluster of loads in the local area [3], [8] [9]. A well designed microgrid should appear as an independent power system meeting the power quality and reliability requirements [3]. The primary goal of microgrid architectures is to significantly improve energy production and delivery to load customers, while facilitating a more stable electrical infrastructure with a measurable reduction in environmental emissions [10]. The most positive features of microgrids are the relatively short distances between generation and loads and low generation and distribution voltage level. The main function of a microgrid is to ensure stable operation during faults and various network disturbances. The microgrid is a promising concept in several fronts because it [18]: provides means to modernize todays power grids by making it more reliable, secure, efficient, and de-centralized; provides systematic approaches to utilize diverse and distributed energy sources for distributed generation; provides uninterruptible power supply functions; minimizes emissions and system losses. Despite many advantages of microgrid there remain many technical challenges and difficulties in this new power industry area. One of them is the design, acceptance, and availability of low-cost technologies for installing and using microgrids [4]. The increased deployment of power electronic devices in alternative energy sources within microgrids requires effective monitoring and control systems for safe and stable operation while achieving optimal utilization of different energy sources [35]. Microgeneration suffers from lack of experience, regulations and norms. Because of specific characteristics of microgrids, such as high implication of control components, large number of microsources with power electronic interfaces remains many difficulties in controlling of microgrids. Realization of complicated controlling processes in microgrids requires specific communication infrastructure and protocols. During the process of microgrid organization many questions concerning the protection and safety aspects emerge. Also, it is required to organize free access to the network and efficient allocation of network costs. The predominant existing distributed generation is based on an internal combustion engine driving an electric generator [36]. To investigate various aspects of integration of alternative energy sources such as conventional engine generators, this paper proposes a prototype of the microgrid for three academic buildings at the Tallinn University of Technology which consists of a diesel generator, and batteries storage with power electronic interface. The main goal of this work is to design an intelligent control system of the microgrid that is efficient enough to manage itself for power balance by making use of state of the art communication technology. Moreover, the aim of this paper is to describe the control strategy of the microgrid operation in both stagy state modes. This control system enables the microgrid system to balance the electric power demand and supply and to simultaneously control the state of power network. Microgrid Theoretical Background A microgrid is described as a small (several MW or less in scale) power system with three primary components: distributed generators with optional storage capacity, autonomous load centers, and system capability to operate interconnected with or islanded from the larger utility electrical grid [10], [11]-[13]. According to [39], [22], multiple facility microgrids span multiple buildings or structures, with loads typically ranging between 2MW and 5MW. Examples include campuses (medical, academic, municipal, etc), military bases, industrial and commercial complexes, and building residential developments. Microgrids include several basic components for operation [3], [4]. An example of a microgrid with is illustrated in Fig.1. Distributed Generation Distributed generation units [1] are small sources of energy located at or near the point of use. There are two basic classes of microsources; one is a DC source (fuel cells, photovoltaic cells, etc.), the other is a high frequency AC source (microturbines, reciprocating engine generators, wind generators), which needs to be rectified. An AC microgrid can be a single-phase or a three-phase system. It can be connected to low voltage or medium voltage power distribution networks. Storage Devices Distributed storage technologies are used in microgrid applications where the generation and loads of the microgrid cannot be exactly matched. Distributed storage provides a bridge in meeting the power and energy requirements of the microgrid. Distributed storage enhances microgrid systems overall performance in three ways. First, it stabilizes and permits DG units to run at a constant and stable output, despite load fluctuations. Second, it provides the ride through capability when there are dynamic variations of primary energy (such as those of sun, wind, and hydropower sources). Third, it permits DG to seamlessly operate as a dispatchable unit. Moreover, energy storage can benefit power systems by damping peak surges in electricity demand, countering momentary power disturbances, providing outage ridethrough while backup generators respond, and reserving energy for future demand. There are several forms of energy storage, such as the batteries, supercapacitors, and flywheels. Interconnection Switch The interconnection switch is the point of connection between the microgrid and the rest of the distribution system. New technologies in this area consolidate the various power and switching functions (power switching, protective relaying, metering, and communications) traditionally provided by relays, hardware, and other components at the utility interface into a single system with a digital signal processor. The interconnection switches are designed to meet grid interconnection standards. Control System The control system of a microgrid is designed to safely operate the system in grid-parallel and stand-alone modes. This system may be based on a central controller or imbedded as autonomous parts of each distributed generator. When the utility is disconnected, the control system must control the local voltage and frequency, provide (or absorb) the instantaneous real power difference between generation and loads, provide the difference between generated reactive power and the actual reactive power consumed by the load, and protect the internal microgrid. Structure of the Proposed Microgrid The microgrid installed in three buildings of the Tallinn University of Technology (TUT): Faculty of Power Engineering, TUT Library, School of Economics and Business Administration. Consequently, according to the classification given in [22], this power system can be defined as a multiple facility microgrid. Fig.2 illustrates the various components of the power system of the microgrid at TUT. The structure of the microgtid for the campuses of the TUT is proposed. Fig.3 shows a schematic of the power system. Microgrid systems targeted in this study are autonomous areas having the power demand of several kilowatts including a diesel generator, two uninterruptable power supply (UPS) systems with batteries storage, and loads. They are connected to the power electronic interface forming local AC network with 230V, 50Hz. The diesel generator is used as the main distributed energy resource in this microgrid. It has a nominal power of 176kW/220kVA, voltage of 240V/400V and maximum current of 318A. This generator is connected to the AC bus via the automatic relay logic (ARL2). The ARL2 is continuously observing it both sides: the main grid and the microgrid. If there is a fault in the general grid, the ARL2 will disconnect the microgrid, creating an energetic island. The battery banks (E1 and E2) are used as the distributed energy storage devices in the microgrid to insure continuous supply of the local load. They are interfaced to the electrical network through the two UPS systems: UPS1 (160kVA), and UPS2 (240kVA). Hence, we can conclude that the microgrid has two main possible operation modes: grid-connected and islanded mode. Main customers of the microgrid are the computers and servers located in the laboratories and office rooms in the three buildings of TUT. The clients in the Library Building (computers) are interfaced to the electrical network using ARL1. In addition, four experimental loads (Experimental loads 1..4) are used that can be connected to the distributed shield located in the Laboratory of Electrical Drives. The nine intelligent sensors (P1..P9) assign these loads. Their task is to measure electrical power and energy parameters of the network, such as voltage, current, power, energy, power factor and transmit this information to the controller. The microgrid is connected to the general city electricity grid using two two-section transformer substations (6000kV/400kV) located in the Faculty of Power Engineering and the School of Economics and Business Administration Buildings. Description of the Control System Taking into account the configuration and features of the power network of the Tallinn University of Technology, the control system structure for the microgrid is designed with the following specifications: the balance of electric power demand and supply of power network are provided; both the steady state modes and the transient performance of the microgrid are achieved. A block diagram of the hierarchical control system which is based on the multiagent technology [40], [41], is demonstrated in Fig.4. The design of the control system can be divided into hardware and software. The control structure of the microgrid has three levels: Operator console and application server; Central controller (CC); Local controllers (LC) and measuring devices. Operator console is a computerized workstation with special software which comprises of supply and demand calculation units, monitoring units, control schemes and dispatching units. The function block diagram of the software is shown in Fig.5. The operator console heads the hierarchical control system. Its main goals of are: to keep track of the whole system by monitoring the status of the communication nodes and generating units; to collect data from the measuring devices; to calculate supply and demand of power; to visualize information received; to display the basic modes of the microgrid; and to transfer control commands to the central controller. Application server is designed for archiving data received from the measuring devices. The main interface between the operator console and others communication nodes of the microgrid control system is the central controller. It is the main responsible for the management of the microgrid. for the optimization of the microgrid operation. The central controller operates in real time. Its main functions are: connection and disconnection of the microgrid, the synchronization process, the detachment of loads. In addition, the aims of the central controller are: to collect information from the measuring devices; to transfer data from the operator console and the application server; to manage the power supply switches; and to transmit the control commands to the local controllers. Group of the local controllers are related to the third hierarchical control level. They include microsource controller that located in the distributed resources of the microgrid. It manages active and reactive power production levels at the diesel generator. Moreover, the microsource controller is responsible for the maintaining desired steady-state and dynamic performance of the power network. The other local controllers are located in the two UPS systems. Their main goals are to provide management of charge of the batteries storage. Measuring process Information required by the proposed monitoring and control system is voltage, current, power, energy, and power factor measurements. Real-time information is acquired through the intelligent measuring devices located at the output of the energy source, at the input of each loads, and at the both UPS systems. In this system, Allen-Bradley Powermonitor 3000 [25] is used to measure these instantaneous values. It implements real-time power monitoring with 50 ms selectable update rate. Such operating information is displayed in real-time for monitoring and energy management purposes. Communication network A communication infrastructure is needed between the central controller and the local controllers [23]. The short geographical span of the microgrid may aid establishing a communication infrastructure using low-cost communications. The adoption of standard protocols and open technologies allows designing and developing modular solutions using off-the-shelf, low-cost, widely available, and fully supported hardware and software components. At the present time, many low cost microcontrollers include at least an Ethernet controller, standalone cheap controllers are also available. The main advantages of using Ethernet are: the transition from a centralized control to a distributed control; wiring reduction no need for point to point connections. This solution provides flexibility and scalability for low-cost implementations. Taking these into account, the Ethernet industrial protocol has been chosen in this microgrid as communication network for data transfer for all those control units. The amount of data to be exchanged between network controllers includes mainly messages containing set-points to LC, information requests sent by the MGCC to LC about active and reactive powers, and voltage levels and messages to control microgrid switches. The LC is responsible of collecting local information from the attached energy resource and takes some real-time decisions based on the control algorithm. The communication network of the control system is illustrated in Fig.6. Every communication node has to get registered to the master server. The node sends its information to the master server through diverse communication channel. Furthermore, this topology provides an opportunity for immediate control center access via remote consoles and web based laptops for necessary actions to be taken. To include new generation resources or storage devices in a flexible manner into the microgrid, multi-agent technologies [40] might be applied. The proposed hierarchical control scheme provides a flexible platform to make high level decisions. Control Strategy of Operation of the Microgrid A microgrid may operate either connected to the main grid or disconnected from it. There are two steady states of operation, grid-connected (Mode-G) and islanded (Mode-I). Furthermore, there are two transient modes of operation, transfer from Mode-G to Mode-I and transfer from Mode-I to Mode-G. The key issue of the control is how to maintain the voltage and frequency stability of the microgrid [20]. Grid-connected mode In the grid-connected operation mode, the main function of a DG unit is to control the output real and reactive power. The real and reactive power generated by a DG can be controlled through current or voltage regulation, thus the DG output power control schemes can be generally categorized as current-based and voltage-based power flow control [43]. During Mode-G operation, the voltage and frequency of the microgrid is set by the main grid. The aim of the uninterruptible power supply systems is to obtain energy backup as much as possible, so during Mode-G operation, the main grid, the microgrid or both of them, will charge the batteries [20]. In grid-connected mode the balance between the generation and the consumption as well as the control of the parameters of the system is guaranteed by the utility grid. Thus, generators are regulated with the criterion of optimized economic exploitation of the installation [23]. Concerning the programmable generator, the objective of the control is to optimize the microgrid performance. Islanded mode The MG operates autonomously, in a similar way to physical islands, when the disconnection from the main grid occurs [37]. When the grid is not present, the ARL2 disconnects the microgrid from the grid, starting the autonomous operation. The instant at which the intentional islanding occurs must be detected in order to the inverter changes between grid-connected to intentional island modes. The detection is achieved using an algorithm described in [23]. When the main distribution network is faulted, the fault current will flow into the main grid from the microgrid continuously. At the same time, the circuit breaker of microgrid should detect the frequency and voltage-drop, and open in time, which makes the microgrid disconnect automatically from the main grid and change to islanded operation mode. Diesel generator should adopt the reasonable control strategies to ensure the stability of frequency and voltage in microgrid [42]. While switched from Mode-G to Mode-I, the UPS system operates in voltage control mode, is setting the voltage and frequency of the microgrid through absorbing or releasing energy. In islanded mode, due to the unavailability of the utility grid, two requirements must be fulfilled: the power balance between the generation and the consumption and the control of the main parameters of the installation (voltage amplitude and frequency). In synchronous islanded mode this reference is the same as the grid voltage. This mode is also called synchronization mode and it is the mode that necessarily precedes a reconnection with the grid. The control system is responsible for assuring the power balance. In case of energy excess the management system can limit the output power of the diesel generators power in order to avoid the operation in extremely inefficient low power generation modes. On the contrary, if all the available power is not enough to feed the local loads, the management system will detach non-critical loads. The control system is voltage controlled and it regulates the main parameters of the system. The UPS systems sets the voltage and frequency of the islanded microgrid and maintains them within acceptable limits by injecting or absorbing active power and reactive power as required. As soon as the presence of mains is detected, the microgrid control system uses feedback information from the mains voltage to adjust the energy storage unit voltage and frequency control loops to synchronize the microgrid voltage with the main voltage of the main grid. Transition from Grid-Connected to Islanded Mode There are various islanding detection methods proposed for DG systems [44]. As mentioned above, there is a different control strategy when the laboratory-scale microgrid system operates in Mode-G or Mode-I. If there is a transition between these two modes, the control mode of the battery inverter will change. A switching circuit, as shown in Fig.7, is designed to realize this transition [20]. A load-voltage control strategy proposed by [23] is employed to provide the operation of the microgrid. Disconnection of the microgrid from the grid can be provoked by many causes, like unsatisfactory grid voltage (in terms of amplitude or waveform) or even economic aspects related to power price. In order to monitor grid voltage characteristics a Voltage monitoring module is required. This module measures continuously the rms grid voltage comparing it with a preestablished threshold value. When any of the phase voltages goes down the threshold value (0.9 pu in this case) the detection signal is activated. If 20 ms after the first detection this signal is still activated the microgrid must be disconnected from the utility grid and it must pass to islanded operation mode, otherwise the microgrid will remain connected to the utility grid. This way unnecessary islandings are avoided and selectivity is respected. A 20 ms time window has been chosen after verifying through experimental tests and standards [47] that a personal computer (which is considered as the most critical residential lo ad in this microgrid) is not affected by a 20 ms voltage interruption. As soon as the microgrid is disconnected from the grid, the programmable generator controller passes from a power control mode to a voltage control mode. Microgrid power consumption is also continuously measured in order to detach non-critical loads if there is no enough local available power. In addition if consumption or generation conditions are modified and it becomes possible to feed all the local loads, non-critical loads will be reconnected. Transition from Islanded to Grid-Connected Mode When the grid-disconnection cause disappears, the transition from islanded to grid-connected mode can be started. To avoid hard transients in the reconnection, the diesel generator has to be synchronized with the grid voltage [23]. The DG is operated in synchronous island mode until both systems are synchronized. Once the voltage in the DG is synchronized with the utility voltage, the DG is reconnected to the grid and the controller will pass from voltage control mode to current control mode. When the microgrid is working in islanded mode, and the ARL2 detects that the voltage outside the microgrid (in the grid) is stable and fault-free, we have to resynchronize the microgrid to the frequency, amplitude and phase of the grid, in order to reconnect seamlessly the microgrid. If the grid-disconnection cause disappears and the gridvoltage fulfills the desired requirements, the transition from islanded to grid-connected mode can be started. The grid voltage conditions will be again monitored by the Voltage monitoring module. This way if the grid voltage exceeds the threshold value the detection signal is deactivated. If 20 ms after the first detection the detection signal is still deactivated it means that utility grid has returned back to normal operating conditions and the microgrid can reconnect to the grid. However, before the reconnection, the microgrid has to be synchronized with the grid voltage in order to avoid hard transients in the reconnection. To do so, the microgrid operates in synchronous islanded mode during 100 ms with the aim of decoupling the reference variation and the physical grid reconnection transients. In this operating mode the voltage in the microgrid is set to the characteristics of the grid voltage, frequency and phase. Once the voltage in the microgrid is synchronized with the utility voltage the microgrid can be reconnected to the grid and the programmable generator controller will pass from a voltage control mode to a power control mode. In the same way if non-critical loads are detached they are also reconnected. In the presence of unplanned events like faults, microgrid separation from the MV network must occur as fast as possible. However, the switching transient will have great impact on microgrid dynamics. The microgrid functionalities as well as its control methods depend on the mode of operation [23]: Islanding of the MG can take place by unplanned events like faults in the MVnetwork or by planned actions like maintenance requirements. In this case, the local generation profile of theMG can be modified in order to reduce the imbalance between local load and generation and reduce the disconnection transient [48]. Conclusions In this paper the microgrid system installed at the Tallinn University of Technology, has been presented. The microgrid includes a diesel generator, batteries storage with power electronic interface. The architecture of the microgrid for the Tallinn University of Technology and a control system structure for the microgrid were proposed. Design of a control and monitoring system for a microgrid is presented in this paper. A hierarchical control scheme is proposed. This will enhance the reliability and stability of the microgrid on one end and will make microgrid an easy to use product on the other. Acknowledgement This paper was supported by the Project DAR8130 Doctoral School of Energy and Geotechnology II. References A.M.Borbely,J.F.Krieder, Distributed generation: the power paradigm for the new millennium, CRC Press, Boca Raton, Florida, 2001, 388p. P.Nabuurs, SmartGrids, European Technology platform, Strategic Deployment Document for Europes Electricity Networks of the Future, September 2008, 68p. R.Lasseter, Microgrids, Proceedings of 2002 IEEE Power Engineering Society Winter Meeting, vol.1, NewYork, NY, 2002, pp.305-308. B.Kroposki,T.Basso,R.DeBlasio, Microgrid Standards and Technologies, Power and Energy Society General Meeting Conversion and Delivery of Electrical Energy in the 21st Century, 2008, pp.1-4. P.Mazza, The Smart Energy Network: Electricitys Third Great Revolution, Jun. 2003. [online]. Available: http://www.microplanet.com/upload/pdf/SmartEnergy.pdf, 22p. J.A.Momoh, Smart Grid Design for Efficient and Flexible Power Networks Operation and Control, IEEE Power Energy Society Power Systems Conference and Exposition, Seattle, Washington, 2009, pp.1-8. A.Mehrizini-Sani,R.Iravani, Secondary Control for Microgrids Using Potential Functions: Modeling Issues, Conference on Power Systems (CIGRECanada2009), Toronto, Canada, 2009, pp.1-9. A.Mohamed, Microgrid modeling and online management, PhD thesis, Helsinki University of Technology, Helsinki, Finland, 2008, 169p. D.Yubing,G.Yulei,L.Qingmin,W.Hui, Modelling and Simulation of the Microsources Within a Microgrid, Electrical Machines and Systems (ICEMS 2008), Jinan, China, 2008, pp.2667-2671. C.M.Colson,M.H.Nehrir, A Review of Challenges to Real-Time Power Management of Microgrids, IEEE Power Energy Society General Meeting, Calgary, Canada, 2009, pp.1-8. C.M.Colson,M.H.Nehrir,C.Wang, Ant Colony Optimization for Microgrid Multi-Objective Power Management, IEEE Power Energy Society Power Systems Conference and Exposition, Seattle, Washington, 2009, pp.1-7. S.Ahn,S.Moon, Economic Scheduling of Distributed Generators in a Microgrid Considering Various Constraints, IEEE Power Energy Society General Meeting, Calgary, Canada, 2009, pp.1-6. C.A.Hernandez-Aramburo,T.C.Green,N.Mugniot, Fuel Consumption Minimization of a Microgrid, Industry Applications, IEEE Transactions, 2005, vol.41, no.3, pp.673-681. A.Arulampalam,M.Barnes,A.Engler,A.Goodwin,N.Jenkins, Control of power electronic interfaces in distributed generation Microgrids, International Journal of Electronics, vol.91, no.9, London, GB, 2004, pp.503-524. F.Pilo,G.Pisano,G.G.Soma, Neural Implementation of MicroGrid Central Controllers, IEEE International Conference on Industrial Informatics, New York, 2007, pp.1177-1182. R.H.Lasseter,P.Piagi, Control and Design of Microgrid Components, Final Project Report Power Systems Engineering Research Center (PSERC-06-03), 2006, p. 257. P.Piagi,R.H.Lasseter, Autonomous Control of Microgrids, IEEE Power Engineering Society General Meeting, Montreal, Canada, 2006, pp.1-8. F.Z.Peng,Y.W.Li,L.M.Tolbert, Control and Protection of Power Electronics Interfaced Distributed Generation Systems in a Customer-Driven Microgrid, IEEE Power Energy Society General Meeting (PESGM 2009), Calgary, Canada, 2009, pp.1-8. R.H.Lasseter,P.Piagi, Microgrid: A Conceptual Solution, IEEE 35th Power Electronics Specialists Conference (PESC2004), vol.6, Aachen, Germany, 2004, pp.4285-4290. Y.Che,Z.Yang,K.W.EricCheng, Construction, Operation and Control of a Laboratory-Scale Microgrid, 3rd International Conference Power Electronics Systems and Applications, (PESA2009), 2009, pp.1-5. R.Lasseter,A.Akhil,C.Marnay,J.Stephens,J.Dagle,R.Guttromson,A.S.Meliopoulous,R.Yinger,J.Eto, The CERTS MicroGrid Concept, CEC Consultant Report P500-03-089F. Sacramento, CA: California Energy Commission, 2003, 32p. 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Comparison of Canada and Europe

Comparison of Canada and Europe 16th February 2017 Group Members: Dharti Gandhi Sanam Akbar Ahamed Jifin Shahsad Brief of Canada and European Country Introduction Canada is the worlds second-largest country in terms of Trade. Economic and political relation between Canada and Europe started from 1950s. Europe and Canada have similar culture and comparable forms of government. Canada and Europe speaks similar languages (French and English) this is official and popular languages. Canadas relationship with Europe is an outcome of the historic link by Colonialism and bulk European immigrant to Canada. The history of Canadas relations with Europe is best accepted in series of economic contracts. In 1976 the European Economic Community (EEC) and Canada authorized a basic agreement on Economic Co-operation. In June 2007, the government of Canada have been forcing the European country to discuss Free Trade Agreement between this two countries. This idea was supported by more than 100 Canadian and European chief executive. In June 2009, European Trade commissioner and Canadian minister of international trade, announced to initiate the discussions for comprehensive economic and trade agreement. Business environment between Canada and Europe The Comprehensive Economic Trade Agreement (CETA) is a tax-free trade agreement between Canada and European Union. This agreement came into action in July 2016. CETA will help Canada to get global exposure in trade. The contract deducts the tariff barrier between Canada and European Union. This agreement is a liberal trade contract which covers virtually all aspect and sectors of Canada -EU trade in order to eradicate or avoid trade walls. The national parliaments of the EU Participant States would then also need to approve CETA for the areas which fall below their obligation to take effect. CETA is an innovative trade agreement between the EU and Canada. Itll make it easier to export goods and services, benefitting people and businesses in both the EU and Canada. The Canada and European Union accepted and signed CETA on 30 October 2016. The European Parliament and European Union national parliaments must accept CETA before it can take complete effect. Trade law between Canada and Europe The Comprehensive Economic and Trade Agreement (CETA) is a free trade between Canada and the European Union. If the act is passed, this could enhance the overall trade of Canada and buildup a solid relation between European countries. Finally, the discussions were concluded in August 2014. Altogether 28 European Union member states approved the ultimate text CETA for signature, with Belgium being the final nation whose ministers accepted it. Justin Trudeau, Canadian prime minister moved to Brussels on 30 October 2016 to sign on behalf of Canada. It sanctioned by the European Parliament, most of the agreement will take effect on a provisional basis. The remaining parts of the agreement are subject to approval by national legislatures. The European Commission indicates the treaty will benefit the country to save of more than half of a billion euros in taxes for EU exporters every year, joint recognition in planned professions such as architects, accountants and engineers, and easier transfers of company staff and other professionals between the EU and Canada. This created more job opportunities for highly qualified professionals. The European Commission claims CETA will generate a more level in performance field between Canada the EU on intellectual property rights. Provisions Primarily, many of its provisions on copyright were in thought to be identical to the controversial ACTA, which was rejected by the European parliament in 2012. The European Commission has indicated that this is not the case. The main Portion of the Agreement is harsher enforcement of intellectual property, as well as liability for Internet Service Providers(ISP), a ban on technologies that can be used to circumvent copyright, and other provisions comparable to controversial ACTA, DMCA, PIPA, and SOPA, Copyright term extension. Under the Berne convention the term of copyright law in Canada is life of the author, in addition 50 years. The EU is demanding that Canada add an additional 20 years by making the term life plus 70 years. WIPO ratification. As per the WIPO internet treaties Canada must respect the rights and obligations. The EU only formally ratified those treaties [in the week of 16 December 2009]. Anti-circumvention provisions. According to the EU Canada must implement anti-circumvention provisions that contain a ban on the circulation of circumvention devices. There is no such requirement in the WIPO Internet treaties. Resale rights. As per the EU agreements Canada must implement a new resale right that would make available artists with a royalty based on any resales of their works. Making available or distribution rights. This shows EU is demanding that Canada implement a distribution or making available right to copyright owners. Strength and weakness of Europe and Canada Strength of Europe 1. Tax welcome trading among followersone of the foremost welfares that are existing to the member nations of the EU is that they are able to craft with additional affiliates at no extra tax policy. This supports to keep charges of properties and diet depressed in these nations. 2. Unlocks additional openingsProgram between all of the nations in the EU is entirely free and exposed for all peoples. This unlocks up many more career and edification chances for public. Specially ones who are in deprived nations. 3. Values is not missingThe EU has not ever had an official language and doesnt restrict with the cultural parts of any nation. This aids to certify that, while you are part of the union, you are also your personal nation. 4. A shared currencyAll of the fellow kingdoms of the EU have the identical type of exchange, the euro. This makes doing corporate, wandering or moving to further republics, and obtaining things much modest. It also makes a logic of harmony among the realms. Weak points of Europe 1. Communication fencesIt develops actual tough for the EU to communicate with all its peoples since they all speak unlike verbal. This also influence the sensitivity of unity among its followers. It makes it tougher to bring public organized. 2. Common wealth is not permanently decentGreat and rich nations that are followers of the European Union, like Germany, have to stake their capital with much smaller and inferior realms. This avoids any one country from too powerful, which is a depraved thing for kingdoms that have the capability to become world bests. 3. Departure is a trickyonce a nation agrees to join the EU, it is enormously tough for them to leave it. This makes several individuals troubled from linking, because if it destructively effects their nation, there is tiny that they can do about it. 4. Differentiates against possible associatesIn order to link the European Union, you must be a portion of Europe. Europes boundaries are mostly open-ended, which gives the EU the authority to pick and take who they would comparable to join the union. Strength of Canada 1. Entrepreneurial care: The Canadian administration cares entrepreneurship. With several avenues of tax discounts and tax breaks, Canadian entrepreneurs feel more self-assured (reporting less fear of letdown) in structure minor businesses or labeling themselves self-employed. 2. Niche market growing: Canada has seen a rush of income through exporting in niche markets, with the progress of Canadian diamonds, but largely within the ice wine industry. In 2014, ice wine made active 29% of their over-all export value. And the figures endure to raise. 3. Near to Americans: As the United States neighbor, Canada has got the backings of extensive employment surplus with America. This accounts for bumpily three-fourths of Canadian merchandise exports to each time. Weakness of Canada 1. The changing Canadian dollar: The Canadian dollar has been up and down (mostly down) which has gradually begun a rift through the kingdom. Unfortunately, thousands have vanished works while the dollar stays to incline. 2. Dependence on the US: While the nearness to America assists as a profit to Canada, the dependence can be a softness. A huge percentage of Canadian exports (over 74%) drive to America. During the US collapse, Canadian exports were wounded. So, if the US markets ache, Canada may also. Trade agreement between Canada and Europe The Comprehensive Economic Trade Agreement (CETA) is a tax-free trade agreement between Canada and European Union. This agreement came into action in July 2016. CETA will help Canada to get global exposure in trade. The contract deducts the tariff barrier between Canada and European Union. This agreement is a liberal trade contract which covers virtually all aspect and sectors of Canada -EU trade in order to eradicate or avoid trade walls. Critics oppose the treaty in light of the fact that it will debilitate European consumer rights, including those concerning sustenance security, and that tariffs are already very low. It has also been scrutinized as a boon only enormous business and multinational organizations while risking net-losses, unemployment, and environmental damage affecting individual residents. The deal also includes a controversial investor-state dispute settlement mechanism. The agreement has prompted protests in Europe and Canada. Import and export-Trade picture In 2015 Canada was the EUs 12th most important trading partner, accounting for 1.8% of the EUs total external trade. The EU was Canadas second most important trading partner, after the U.S., with around 9.5% of Canadas total external trade in goods in 2015. The value of bilateral trade in goods between the EU and Canada was à ¢Ã¢â‚¬Å¡Ã‚ ¬63.5 billion in 2015. Machinery, chemicals and transport equipment dominate the EUs exports of goods to Canada. Pearls and precious metals, and mineral products dominate the imports of goods from Canada. Machinery and chemicals also constitute an important part of the EUs imports from Canada. European investors held investments worth à ¢Ã¢â‚¬Å¡Ã‚ ¬274.7 bn in Canada while Canadian direct investment stocks in the EU amounted to almost à ¢Ã¢â‚¬Å¡Ã‚ ¬166 bn in 2014. Key elements of the EU-Canada Comprehensive Economic and Trade Agreement Eliminating obligations this will happen rapidly with the greater part of them going when the assertion goes into compelling. Generally speaking, both sides will completely dispose of tariffs on over 99% of all tariff lines. Industrial taxes these will be completely changed sparing EU exporters a normal around à ¢Ã¢â‚¬Å¡Ã‚ ¬500 million (practically C$ 700 million) in obligations a year. As such, EU exporters will be relieved of the expenses of paying levies when offering selling goods on the Canadian market. Agricultural levies Canada is an exceptionally important fare showcase for EU rural and prepared agrarian items, with yearly offers of over à ¢Ã¢â‚¬Å¡Ã‚ ¬ 2.9 billion. The agreement will rapidly largely at entry into force dispose of obligations on farming. Before the finish of the transitional periods, Canada and the EU will change, separately, 92.8 % and 93.5 % of exchange lines in horticulture. Fisheries most obligations will be wiped out at entry into force. Other than duties, the fish bundle additionally incorporates different components important to EU firms, for example, better access to Canadian fish for the EU preparing industry. Reasonable fisheries will be created in parallel, specifically with respect to checking, control and reconnaissance measures, and the battle against illicit, unreported and unregulated fishing. DISPUTES BETWEEN CANADA AND EUROPEAN COUNTRY THAT HAS BEEN TAKEN TO WTO On 13 May 2003, Canada asked for conferences with the European people group concerning certain measures taken by the EC and its part States influencing imports of farming and nourishment imports from Canada. With respect to group level measures, Canada stated that the ban connected by the EC since October 1998 on the endorsement of biotech items has limited imports of horticultural and nourishment items from Canada. With respect to State-level measures, Canada attested that various EC part States keep up national advertising and import bans on biotech items despite the fact that those items have as of now been affirmed by the European people group for import and showcasing in the European people group. As per Canada, the measures at issue gave off an impression of being conflicting with the ECs commitments under: Articles 2.2, 2.3, 5.1, 5.5, 5.6, 7 and 8, and Additions B and C of the SPS Assentation; Articles 2.1, 2.2, 2.8, 5.1 and 5.2 of the TBT Understanding; Articles I:1, III:4, X:1 and XI:1 of the GATT 1994; and Article 4.2 of the Farming Understanding. Canada likewise considered that the measures at issue invalidate or impede benefits gathering to Canada in the feeling of Article XXIII: 1(b) of the GATT 1994. Australia, Argentina, Brazil, India, Mexico, New Zealand and the Assembled States asked for to join the conferences. The EC educated the DSB that they had acknowledged the solicitations of Australia, Argentina, Brazil, India, Mexico, New Zealand and the Assembled States to join the counsels. On 7 August 2003, Canada asked for the foundation of a board. At its meeting on 18 August 2003, the DSB conceded the foundation of a board. Opportunity for Canada to explore business in European country Europe has an infrastructure opportunities for Canadian companies. There will be Tariff Exclusion for Trade in Goods. Under CETA 98% of Europe tariff lines will become duty free for Canadian-origin things. In coming seven years there are plans to reduce and eliminate Tariffs of Canadian things which is export to Europe. For future prospects Europe will eliminate tariffs in Agriculture sector, Metal product, Seafood, Oil and gas sector. This new trade deal should be significant for future. But now it depends on Canadian companies on how they familiarize and respond to European opportunities. If they adapt this term confidently, it is good for Canadian economy growth. COMPETITION AND THREATS FOR CANADA FROM EUROPEAN COUNTRIES CANADA VS EUROPEAN COUNTRIES à ¢Ã¢â€š ¬Ã‚ ¢Among the nations, Canada positions second (behind just Mexico) in each of the four segments analyzed computerized administrations, Research and development administrations, corporate administrations and assembling. Among these areas, Canada shows its most grounded outcomes in Research and development administrations, due to some extent to the government and commonplace Research and development impose credits accessible. à ¢Ã¢â€š ¬Ã‚ ¢The high esteem US dollar ended up being a key figure the rankings for some nations. Canadas cost favorable position in respect to third-put Netherlands just changed barely, while Canadas cost preference over Australia declined due (to a limited extent) to the estimation of the Australian dollar declining by much more than the Canadian dollar with respect to the US cash. à ¢Ã¢â€š ¬Ã‚ ¢From an expense point of view, the UK, Canada and the Netherlands offer the least compelling rates of corporate salary assess over a scope of business areas, all aided by duty motivating forces intended to bolster Research and development and additionally other cutting edge exercises. THREATS 1. Tariffs The Exhaustive Financial Exchange Understanding amongst Canada and the EU, or CETA for short, was not proposed to only tinker with levies on imported products. From the beginning, the objective was a decrease in levies to zero and the opening up of new markets. Understanding has been come to on a considerable rundown of merchandise. Harper government pastors were out a week ago spotlighting a couple of these, including moderately low-esteem however interestingly Canadian things like maple syrup, kayaks and Tilley caps. A few areas are balanced for a more considerable score under CETA, and the legislature is planning to advertise the arrangements potential in view of territorial interests: 2. Cultivate wares achievement? The playing field amongst Canadian and European agriculturists is famously hard to level: European nations finance their residential homestead ventures to a degree not seen (and not moderate) in Canada. Truth be told, Canadas supply-administration framework for dairy, eggs and poultry, which will stay under this assention, is intended to maintain a strategic distance from government sponsorships by controlling the costs purchasers pay to guarantee stable returns for agriculturists. 3. Licensed innovation (copyright) Few issues have seen as energetic a verbal confrontation among common society gathers on both sides of the Atlantic as this. European requests for augmented licenses on physician endorsed drugs stay one of Canadas most troublesome choices, as medication expenses for areas and regions could bounce altogether. Be that as it may, other hot parts of the copyright face off regarding have cooled off. The entry prior this time of Canadas Copyright Demonstration changes, C-11, facilitated European requests to convey Canadian benchmarks up to scratch. 4. Government acquisition European access to expansive contracts at all levels of government in Canada has been a key EU request. Be that as it may, Canadian moderators had their very own particular request: A negative rundown approach, permitting regions and domains to draw up a rundown of craved exclusions. Dealing with the points of interest spent a great deal of arranging capital on both sides, however the final product is a rundown of exceptions like the one set up for the Purchase American concurrence with the U.S. SOURCE: http://www.cbc.ca/news/politics/5-key-issues-in-the-canada-eu-trade-deal-1.1154782 https://home.kpmg.com/ca/en/home/media/press-releases/2016/03/canada-keep-stop-spot-as-cost-competitive-mature-market.html https://www.wto.org/english/tratop_e/dispu_e/cases_e/ds292_e.htm https://home.kpmg.com/ca/en/home/media/press-releases/2016/03/canada-keep-stop-spot-as-cost-competitive-mature-market.html http://www.cbc.ca/news/politics/5-key-issues-in-the-canada-eu-trade-deal-1.1154782