Mass Media and Popular Culture - 1367 Words

How has mass media a created a relationship among popular culture, mass media and different forms of dissemination? Mass media is any form of communication used to reach a large group of people. There are different types of media; examples of media are magazines, movies, television, books, recording devices, radio and the internet. As time goes on, new and improved technology is developed in the mass media industry for communicating and entertainment purposes. As mass media continues to grow and expand, they developed new and more modern ways of technology. This allowed for more advance ways to communicate and entertain the captive audience. Examples of the new technology that were developed are the internet, digital equipment, video†¦show more content†¦An example of a normative culture belief is the Health Care Reform bill. A Normative believes that everyone should have health care benefits because it is the right thing to do. If the bill passes residents who do not curren tly have insurance and residents who have non-group insurance will be able to receive affordable coverage through the health insurance exchange. Media and advertising play a role by making the audience aware of sides, the positive and the negatives of health care reform. The Internet has taken our culture to another level; we are one of the most advanced nations because the Internet has helped us get there. Now a day, we can use cyberspace to home school our children and even earn a college degree online. It also enables us to communicate with each other from all over the world using web sites such as Myspace, Facebook, and Skype. This type of communication as allowed relatives to be in touch from a distance as well as allow soldiers overseas to communicate with their families. Even though the Internet has many pros there are definitely cons. To some extent it has actually disabled interpersonal communication in the sense that we no longer need to speak to one another face to face. It takes away the intimacy from a conversation such as seeing the other person laugh or smile, or even frown. On the other hand, there are web sites like Skype that allow you to see the other person while you both are having a conversation. The fact that you can seeShow Mo reRelatedMass Media and Popular Culture953 Words   |  4 PagesMass Media and Popular Culture March, 2009 Let us face the facts, mass media and popular culture need each other to coexist. Furthermore, in todays society the mass media serves the interest of popular culture. Moreover, it is the vehicle of free speech in a diverse, multicultural society. In addition, mass media refers to communication via radio, televisions, movie theaters, television, newspapers, magazines, and, etc; thereby, reaching out to the larger audience. On the contrary, popularRead MoreEssay about Mass Media and Popular Culture1491 Words   |  6 PagesMass Media and Popular Culture: Effects on the Population Mass Media and Popular Culture Mass media and popular culture go hand in hand. This paper will discuss the impact of mass media on enculturation, examine the relationships among media, advertising and the formation of normative cultural values, and discuss the impact of the internet on popular culture and the way we communicate today. Real world examples of this impact will be provided to prove our point of view and the overall effectRead MoreThe And Dissemination Of Cultural Values, Ideologies, And Hierarchies832 Words   |  4 Pagessemiotics, important issues to understand the full web of the â€Å"word-concept† culture, dominate much of the theory and practice. The most common debates are over naming eras and redefining terms like popular, culture, popular culture, etc. Despite the debate, the historiography maintains four important foci for the construction of cultural values: industrialization and the Progressive Era, the influence of industrialized media, the concept of shifting contexts, and a refe rence an attempt to identifyRead MoreEssay about Mass Media1507 Words   |  7 Pagesemergence of mass culture There has always been a definitive struggle to define culture as it is so complex and means something different to each individual. Culture affects all of us in different ways resulting in multiple definitions of culture. Culture had previously been seen as a way of improvement and growth, helping us to understand our place in society and guiding us towards a better understanding of ourselves. Over the previous number of decades our society and culture has changed significantlyRead MoreWhy Is Medium Is The Massage Essay1528 Words   |  7 PagesWhy is Medium Message? Marshall McLuhan, a technological determinist, says in his book ‘Medium is the massage’ that the most widespread modern media influence how humans think, act and perceive the world around them. He states that the medium significantly influences the message that people will receive, and thus, the same message is perceived by the same individual in several ways if he receives them in a different way. The expression the medium is the message means that recipient receives messagesRead MoreThe Political Economy And Cultural Studies Theories1429 Words   |  6 PagesIntroduction Mass media plays an important role in the society by providing entertainment, information and acting as the government’s overseer. Several scholars have developed philosophies that help people understand how mass media fulfills its roles in the society. For example, Horkheimer and Adorno have constructed theories that explain the functions and impacts of mass media in the society across the globe (Mosco, 2008). The central theme in all mass communication models entails the meaning of media contentsRead MoreCulture and the Mass Media1400 Words   |  6 PagesImpact of Mass Media on Enculturation The mass media and culture go hand and hand in today s society. The American culture thrives on the Mass media and this has become American culture today. â€Å"Mass media is any medium used to transmit mass communication. Until recently mass media was clearly defined and was comprised of the eight mass media industries; books, newspapers, magazines, recordings, radio, movies, television and the Internet (Lane, 2007).† The mas media is no longer simple to defineRead MoreChilean Journalism Practices And How They Have Evolved And Respond Within The Culture1104 Words   |  5 Pagesto changes within the culture. Different platforms took different directions depending on whether they were national and supported by the government or private and supported independently. (Mellado 140) As the Chilean government allowed more â€Å"freedom of speech† with the country, more media platforms came about. (Mellado 140) â€Å"During this time, the more professional press was born, looking more like what we understand as a newspaper† in addition to news, all forms of media took off in the earlyRead MoreDefining Popular American Culture1039 Words   |  5 PagesDefining Popular American Culture The study of culture is very important to our society, as we have been studying our past and identities for as long as we can recall. Studying our cultures allows us to understand each other as a people, so we can comprehend what we have done, and possibly, what we may do. As we study American popular culture, we see something that began as almost nothing, to a group of patterns that has captured the minds of not only the American people themselves, but the wholeRead MoreThe Sociological Aspects Of The Media And Popular Culture Essay1622 Words   |  7 PagesThe media influences how people experience social life. Media such as newspaper, television and film, are important sources of information, education and entertainment. It can be used to learn more about the world and the people in it. In this regard it can be said that the media represent, interpret and endorse aspects of social experience (O’Shaughnessy and Stadler, 2005). The media are also implicated in social regulat ion, or in other terms, the government of society. The media are implicated

Administrator Of Human Resources Interview - 2084 Words

Administrator of Human Resources Interview Steve Barrett is the Executive Director for Human Resource Operations for the Minneapolis Public Schools District. According to S. Barrett, he has worked in his current position for seven months (personal communication, January 20, 2015). Previously, Barrett worked as an adjunct professor at the Metropolitan State University for 25 months, and as an Executive Director for Employee Relations at Minneapolis public schools for 20 months. Later, he worked as the Labor Relations Director at Osseo Area Schools for three years and four months, and Labor Relations Specialist at the City of Saint Paul for six years and one month (S. Barrett, personal communication, January 20, 2015). Barrett earned his master’s degree at Hamline University, where he graduated with a Masters of Arts in Public Administration. In this report, I document the interview I had with Barrett on January 20, 2015 to discuss human resources management in the school district. What are the demographics of the district? S. Barrett explains that the Minneapolis Public Schools District has 76 schools (personal communication, January 20, 2015). The number of students is approximately 35,356. There are 11,439 White students, 13,109 African American students, Hispanics are 6,766, Asians are 2,526, American Indians are 1,479, and Pacific Islanders are 37 (S. Barrett, personal communication, January 20, 2015). Approximately 65 percent of the students benefit from free or reducedShow MoreRelatedAdministrator Of Human Resources Interview2082 Words   |  9 PagesAdministrator of Human Resources Interview Introduction Steve Barrett is the Executive Director for Human Resource Operations for the Minneapolis Public Schools District. According to S. Barrett, he has worked in his current position for seven months (personal communication, January 20, 2015). Previously, Barrett worked as an adjunct professor at the Metropolitan State University for 25 months, and as an Executive Director for Employee Relations at Minneapolis public schools for 20 months. LaterRead MoreHuman Resources Department : The Core Of Any Successful Organization Essay1700 Words   |  7 PagesThe human resources department is the core of any successful organization. Human resource management is an ever-evolving profession, and is also one of the most critical departments in any company. Human resource professionals are responsible for many of the day to day contributions of an organization such as recruitment, hiring, retention, and management of existing and new employees. They are also responsible for maintaining and keepin g track of all the different rules and regulations set forthRead MoreHr Assessment 2 Escape to the Wild1695 Words   |  7 PagesManaging Director has expressed his wish for the company to take on a more Strategic approach to the way it recruits trains and promotes its employees. To implement this new strategic approach a human resource function should be introduced. The following describes four activities the human resource function will undertake in order to support the company’s expansion and success: Recruitment Selection The purpose of recruitment and selection is to reduce the risk of poor selection and Read MoreHealth Center At Texas State University1370 Words   |  6 PagesIntroduction This is a report of an Interview with Karen Gordon-Sosby, associate director at Texas State Student Health Center. Karen is a highly motivated professional, an experienced healthcare administrator and appears to possess inherent management and leadership skills that are quite significant and noteworthy. Her expertise in performing the indispensable task in managing and analyzing financial records, brings a unique blend of health administration and public health prowess to the healthcareRead MoreThe Implementation Of The Staffing Process758 Words   |  4 Pagesdetailed. First, there has to be some type of organization that conducts the interview such as a committee. This committee could consist parents of children enrolled in center or preschool (who can consider if he or she feels comfortable leaving their child in the hands of the candidate), staff members (who would be working with new candidate and see if the candidate would be a team player), and director or administrator o f facility. The final decision on hiring the candidate should be made clearRead MoreNursing And Health Services Managers894 Words   |  4 Pages(My Next Move, 2016). According to the Bureau of Labor Statistics (BLS) (2015) in order to become a nursing home administrator, one would need to sit for a state exam, to retrieve the necessary certification to become a nursing home administrator. Requirements vary state to state, while most states require a person to obtain a bachelor’s degree to sit for the nursing home administrator exam. Personality traits and skill sets that a person would need for this profession would be basic skills: readingRead MoreRoles and Values of Nursing1694 Words   |  7 Pagespaper is a comparison of the views of a BSN staff nurse and a BSN clinical administrator on various aspects of nursing roles and how they contribute to my professional development. Both of the nurses that I interviewed had obtained a BSN and worked in a hospital owned orthopedic and spine medical group. There were commonalities in several of their answers related to patient care but differences related to their roles Interview #1 The first nurse that I interviewed was a staff nurse in a physician’sRead MoreEssay on Professional Care Action Plan1534 Words   |  7 Pageshealth care organization to work at, and the knowledge gaps that exist, and professional resume. In this paper will speak on professional goals, the health care career plan to have in the health care sector, skills currently have for health care administrator health care field, skills that will need to be changed or alter. I will state plan for ultimately achieving these professional career goals, and with the information mentioned above. I will give a perception on the Professional organizations thatRead MoreActavis Pharmaceutical Company Essay1045 Words   |  5 Pagesfor me to start my career and do my research on them as well to give me an idea of how the pharmaceutical industry works. Business management is currently my major and I fore see myself working as business administrator or a human resource coordinator, with the position of contracts Administrator opened I figured this is a great opportunity for me to kick start my career in the pharmaceutical industry. With the pharmaceutical industry having a significant low employee turnover ratio due to the excellentRead MoreThe Assessment Team Administrator Should Begin The Process Of Soliciting Evaluation Team Members838 Words   |  4 PagesThe assessment team administrator should begin the process of soliciting assessment team members. Many organizations solicit members through. Their corporate newsletter, electronic mail, or a personal letter sent from the president/CEO inviting participation. Team members selections should be considered from a group of employees who have expressed an interest in better understanding homeland security and using the Baldrige Criteria as a template for improving their organization’s homeland security

Importance of TFP growth in Asian Economy-Myassignementhelp

Question: Discuss about the TFP Growth and the Importance of TFP growth in Asian Economy. Answer: Introduction This essay gears up understanding about TFP growth and the importance of TFP growth in Asian economy. TFP growth is essential for the continuing growth of countries economy. Asian economy has experienced slow-moving trend in factor productivity growth as a result of global financial crisis occurred past 10 years. That affected the industries of the Asian economies to recoup the computation emerging with the developed economies in terms of technological advancement. Apart from that decline in FDI flow also impacted the growth of trade and commerce of the region. Apparent economic environment has focused the need of policy makers to analyse the TFP growth determinants in the economy to attain its sustainable growth in extremely competitive global business environment. The essay also explains the ways to improve total factor productivity growth for Asian economy. The essay also explains the theoretical concept of total factor productivity, sources and importance of TFP growth. Concept of Total factor productivity The long-term economic growth of the country is grounded on development of total factor productivity approach. Total factor productivity is assessment tool that calculates residual growth in industry or national economies aggregated output, which cannot be easily derived by analysis of conventional production inputs like capital and labor. Increase in total factor productivity shows that input elements are efficiently utilized in the production process. Total factor productivity outlines the requirement of long-term technological innovations[1]. The theory of total factor productivity is applied to assess the collective productivity of all the inputs. The total factor productivity denotes the ratio of total produced output to the cost of all inputs utilized in production activity. Total factor productivity not only indexes joint productivity of the whole economy but also forms basis to analyse economic technological development. Progressive growth in resources like capital, land, labour and percentage increase in TFP assures sustainable economic growth. Frequent innovations and improvement in existing technology makes input factors more effective. If the total factor productivity increases along with increase in number of resources, then it results into quick increase in the quantum of output in comparison to increase in the quantity of resources[2]. The formula that measures relation between total factor productivity and economic growth concerning production function and also measures the contributions of several elements t o economic growth [3] is detailed as under- Y= Where, Y =Gross domestic product of the country A= Total factor productivity = The extent of returns to scale =Importance of physical capital in output K= Physical capital H= Human-capital-adjusted labor input Asian Economy Outlook In the context of Asian economy, dynamically changing climate has adversely affected the economy and efforts involved in eradication of carbon emission inclusive of high cost immerged to be a serious concern issue for the economic development of Asian continents. To measure productivity of economic factor of production, the impact of carbon release mitigation policy and climate change is to be analyzed to achieve total factor productivity growth. However, the incentive structure followed by the institutions operating in the economic environment of the country outlines the path of economic development of the country. Business environment of the economy where property rights are secured and contracting rights are mandated to be enforced are performing well in comparing the rigid economic structure[4]. Hence, developed institutional framework assist in lowering down the adverse effects of climate change and reducing the cost involved in eliminating the carbon emission. Most of the population of the Asian constituency is poor and the business institutions are underperformers[5]. Since the economic position is week, so the economic surroundings are more sensitive towards environmental changes. The key requisite to environmental transformation is research and innovation in the field of production technology by which the production processes be reformed. Sources of Total factor productivity growth Several variable factors of Asian economy determine the outcome of TFP and these variable factors functions with one or more variables to determine TFP. The medium through which total factor productivity growth is achieved is innovative improvements in technology and production process[6]. Innovation Research and developmental activity carried out by Asian firms gradually improve the production efficiency of the manufacturing industry. RD activities assist in development of innovative technologies that improves the production capacity and optimize the production competence in the particular level of input-process-output cycle. Reallocation Results The income derived from production activity through the shifting of least productive to the most productive medium creates the significant difference in the revenue and total factor productivity growth. This shifting operational environment forms the basis of closer of certain production units and creation of new business units. In addition to that leads to change in market share and adjustment in the product line and product portfolio[7]. Quality of the production Quality of production plays significant role in attainment of efficient total factor productivity. The adoption of innovative technology into the production function results into refinement of the quality of the produced output, which improves the TFP growth of the economy. Training and Education Educated and trained workforce is competent to deliver superior quality of goods and services. Well-designed and innovative training programs not only enhance the skillfulness and knowledge of the employee but also improve the performance of entire industry. Thus, workforce development is globally accepted strategic tool through which factor productivity can be enhanced[8]. Economic Restructuring Economic restructuring refers to situation where resources are deployed from the less productive economic sector as a pre-requisite of economic restructuring. These moved resources employed in highly performing economic sector to attain high degree of total factor productive growth. Industrial progressive growth depends upon the core competitive advantages of the industry. Enhancement of competitive advantage of the firms is achieved through shifting of operational activities from basic to critically analyzed system where firm can get economic advantage over its competitors. Thus, the economic restructuring shift from low productive to the high productive industries provides progressive pace to economy through development of innovative methods for industrial mix which expands the scope commerce[9]. Capital Structure This refers to the investment activities in superior quality of capital assets like plant and machinery and equipments utilized in the process of producing the goods which encompasses high quality batch of units produced in optimum cost. The appropriate composition of capital invested in production inputs involved in business operations insures long-term performance of the firm as industry participant and effects the growth in terms of TFP. Technical Progress Technical advancement of the economic society includes optimum utilization of input resources of the country viz. capital assets, technology, human resources and research and development activities. Country can achieve technical advancement by managing human capital, assets or resources, production processes and technological innovations. Technological advancements influence both the attitude of the human asset at work and the innovative expertise. Benchmark standards set on the economic environment of developed nations reveals the fact that economic reshuffle towards low cost high quantity production process and advancement of the educational level of the human assets along with technical evolution leads to TFP growth[10]. Demand Intensity The force of demand in the economy replicates the level of production capacity. Hike in demand of product and services in the society encompass optimum utilization of capacity of capital assets. Hence, change in demand influences TFP growth as increase in demand of the product increases the production level and gradually TFP grows. Total factor productivity growth in relation to Asian economy Asian economy has observed slugging productivity growth as the impact of global financial crisis occurred past 10 years and not able to meet up with technological upgrade as compared to developed countries globally. The sluggish TFP growth has mainly affected the highly developed economies of Asian region including China. Other factors responsible for productivity slowdown comprises of low paced trade investments, slumping trade and commerce, low rate of creating structure of human asset for industries, shifting of resources to low productive sectors of the economy and majority of aging population. In contrast to above, emerging market places and developing countries of the Asian economy influenced by global financial crisis has observed low decline in productivity growth[11]. Figure 1: Real GDP Growth (Source: IMF Regional Figure 2: Total Factor Productivity Growth (Source: Economic Outlook, 2017) IMF Regional Economic Outlook, 2017) Figure 1 and 2 presents overview over actual GDP development and total TFP growth in the Asia region in comparison with growth in the United States. Both figures explain average growth rate over four different periods developmental tendency. Above figures presents, the difference between TFP and actual GDP growth rate. It represents that the growth after the global financial crisis period is relatively downturned and driven more by the factors that determines TFP growth. Furthermore, the advanced economies of Asia had shown 1% lower average TFP growth rate later than the global financial crisis. TFP growth in India as compared to Chinas TFP growth is large than that of its actual GDP rate. Importance of TFP Growth TFP growth plays the vital role in long-standing economic growth of a country. Analysis of TFP growth is important as it assists the economic policy makers to understand the growth drives. Growth in TFP indicates that the economy of the country is moving forward towards growth in trade and commerce. Prevailing era of immense competition with developed countries and adverse external economic elements influencing the growth of the economy. Analysis of TFP growth explores the growth drivers and growth obstructs present in the economic system in front of policy makers. By utilizing the TFP factors analysis the country assures its sustainable growth in extremely competitive global business environment. It helps in exploring the share of production growth that can be unrevealed by varying physical inputs. It assists in studying the procedures involved in production, which design working hypotheses for key elements influencing the volume of TFP and its growth style. Study of TFP growth port rays design of production system of the business or industry that helps to administer government establishments and industries based on production competence[12]. Improvement in TFP of Asian economy Asia is undergoing factor productive growth decline as adverse external environment subsequent to the global financial crisis affected the growth path of Asian economy. As a result low productive investments in trade and commerce of the region and lacking technological advancement has turned economic growth downward. Although enormity and environment of the slug is different for associated economies of the region, but elevating productivity growth is a strategic priority of Asian economic policy[13]. The economic policies should be formulated in such a manner that encompasses with strong productivity benefits associated with trade liberalization. The legislative acquaintances of associated economies should draw their focus around strengthening the research and development activity of the respected nations through increasing budgetary benefits in this function and taking corrective actions in terms of raising factor productivity of the service sector. Increased competitive ambiance will also aid to drive innovations. The focus of the economic policies for developing economy and emerging marketplaces in Asian region should be oriented towards attracting FDI inflows through reallocating the productive spread outs in realigned format for their optimum capacity utilization. Public infrastructural development and strengthening human capital through imparting quality education and training also supports economy to elevate TFP growth[14]. Conclusion In view of the above study, it is stated that the intensity of adverse external environment to Asian economy is high. Emerging competition from developed economies in terms of technological progression through there innovational efforts in the area of research and development have made the slumping growth path of Asian economy. Declining FDI flow in the economy also affected the development of trade and commerce of the region. To revamp the economic growth effected by the global financial crisis and to address the challenging issues imposed by the unfavourable external environment, policy makers are recommended to analyze the determinants of TFP growth to convert the present economic scenario into favourable state. The economic policy should be formulated in such a fashion that promotes service industry delivery through focus on RD activities. Attracting FDI to invest in Asian economy through reallocating the resources to productive functions and developing human capital with effecti ve training that improves there competencies. Bibliography Bulman, David, Maya Eden, and Ha Nguyen. "Transitioning from low-income growth to high-income growth: is there a middle-income trap?."Journal of the Asia Pacific Economy22, no. 1 (2017): 5-28. Chalongphob Sussangkarn, Yung Chul Park and Sung Jin Kang. Foreign Direct Investments in Asia. N.Y.: Routledge, 2011. Crespi, Gustavo, and Pluvia Zuniga (2012). Innovation and productivity: evidence from six Latin American countries, World Development 40, no. 2 (2012): 273-290. Idris Jajri. Determinants of Total Factor Productivity Growth in Malaysia. Journal of Economic Cooperation, 28, no. 3, (2007), 41-58. Jorgenson, Dale W., and Khuong M. Vu. "The Outlook for Advanced Economies."Journal of Policy Modeling(2017). Li, Ke, and Boqiang Lin. "Economic growth model, structural transformation, and green productivity in China."Applied Energy187 (2017): 489-500. Mustafa K. Mujeri. Making growth more inclusive in Asia and the Pacific: a case study of Bangladesh, Economic and Social Survey of Asia and the Pacific (2014) Bangkok: United Nations, Economic and Social Commission for Asia and the Pacific. Mustafa, Ghulam, Marian Rizov, and David Kernohan. "Growth, human development, and trade: the Asian experience."Economic Modelling61 (2017): 93-101. Reema Nayar, Pablo Gottret, Pradeep Mitra, Gordon Betcherman, Yue Man Lee, Indhira Santos, Mahesh Dahal and Maheshwor Shreshtha. More and Better Jobs in South Asia. USA: World Bank Publications, 2011 Neva Goodwin, Jonathan M. Harris, Julie A. Nelson, Brian Roach and Mariano Torras. Principles of Economics in Context. New York: Routledge, 2015. Masanao Aoki and Hiroshi Yoshikawa. Reconstructing Macroeconomics: A Perspective from Statistical Physics and Combinatorial Stochastic Processes. New York: Cambridge University Press, 2011. Astrid Kander, Paolo Malanima and Paul Warde. Power to the People: Energy in Europe over the Last Five Centuries. New Jersey: Princeton University Press, 2014. Shunsuke Managi. The Routledge Handbook of Environmental Economics in Asia Routledge International Handbooks. New York: Routledge, 2015.Hal Hill and Maria S. Gochoco-Bautista. Asia Rising: Growth and Resilience in an Uncertain Global Economy. UK: Edward Elgar Publishing, 2013. Rath, Badri Narayan, and Vaseem Akram. "Export diversification and total factor productivity growth in case of South Asian region."Journal of Social and Economic Development19, no. 1 (2017): 196-210. Jorgenson, Dale W., and Khuong M. Vu. "The Outlook for Advanced Economies."Journal of Policy Modeling(2017). Li, Dandan, Ting Tang, Dezhuang Hu, Feifei Song, and Lianfa Luo. "The challenge to chinas enterprises from increasing labor costs: the product quality perspective."China Economic Journal10, no. 1 (2017): 18-33 Foster-McGregor, Neil, and Bart Verspagen. "Decomposing Total Factor Productivity Growth in Manufacturing and Services."Asian Development Review(2017). Ahmed, Elsadig Musa, Elsadig Musa Ahmed, Rahim Kialashki, and Rahim Kialashki. "Asia Pacific productivity development determinants."World Journal of Entrepreneurship, Management and Sustainable Development13, no. 1 (2017): 57-64. IMF World Economic and Financial Surveys- Asia and Pacific. Regional Economic Outlook (2017): 1-106. Ephraim F. Sudit. Productivity Based Management. USA: Klwer-Nijhoff Publishing, 2012. Mustafa, Ghulam, Marian Rizov, and David Kernohan. "Growth, human development, and trade: the Asian experience."Economic Modelling61 (2017): 93-101. Shamshad Akhtar, Hongjoo Hahm and Aynul Hasan, Nurturing productivity for inclusive growth and sustainable development, Economic and Social Survey of Asia and the Pacific (2016):1-141.

Solution of Colfax Corp Case free essay sample

Overview Colfax Corporation is one of the world’s best producers of industrial fluid handling equipment with the concentrated niche of the pump market also known as positive displacement technology. Unfortunately, the positive displacement pumps faced severe limitations from engineering and procurement groups across the world concerning that the PD technology is minimal because in many engineering universities centrifugal pump technology has been taught. These are the highly specialized engineered pumps with no direct rival in the market for their performance under unusual conditions where only a very prà ©cised type of performance could deliver positive results. The brand was founded in late 1990 however; it received an immense popularity in a short span of time. Transport of thick fluid such as asphalt at extremely uniform rates of flow and low levels of energy consumption are the examples of the requirements for which Colfax products are excelled. The five major business units of Colfax were former leading independent and highly regarded pump companies from Germany, France, Sweden, Netherlands and the United States. We will write a custom essay sample on Solution of Colfax Corp Case or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 1. What problems Colfax faces in this case? In the year 2008, all the heavy industrial manufacturers faced an important business development issue across the world, one of them was Colfax. The reason behind the issue was the rapidly rising thirst for oil from markets like Asia, Middle East, South America and other parts of the developing world to meet the increasing demands for energy and industrialized economies. This demand increased the pressure on oil extracting companies to hire vendors with high engineering skills, design and sales expertise as well as had attracted heavy industrial manufacturers from all around the world to cash the opportunity. To get advantage of the opportunity and to expand the business, the Senior Vice President of the corporate marketing, Joe Niemann and the head of Colfax EMEA, the Company’s Europe/Middle  East/Africa regional branch, Michael Matros made a presentation at the top management of Colfax Corporation Convened in Dubai for its semi-annual strategic update in summer 2008. The session was attended by all the CEO’s and Executive committee members of Colfax geographic regions. Here they raised the issue that how to give an effective and impressive proposal to Aramco, to cash the opportunities in Middle East Oil and Gas. Leading companies in the Middle East for oil are Kuwait Oil Company, ADNOC and Saudi Aramco notorious for their great hold in the oil and gas market in and around the Middle East. Niemann and Matros were wondering how to tackle the possible risks? How to justify sizeable investment and how to create a win/win relationship between the oil and gas arena. 2. What can it suggest to Aramco? Niemann and Matros chose the Saudi Aramco to get advantage of the opportunities from the Middle East oil and gas market. The Saudi Aramco was immensely more powerful compared to the ADNOC and Kuwait oil company because the company has been facing a high pressure to meet the needs of its own as well as of lots of other countries. To lighten the pressure/burden, the Aramco needs to have high quality equipments, effective work team to meet the high operational demands with an ability to extract and deliver oil at a level their government and customers are expecting from them. Colfax had suggested the Aramco that they can deliver a diverse workforce as they have their offices in different geographic regions. For the Aramco, it was a supreme technological challenge to get the complex engineering solution because the oil pumped out from one place could be different from the oil pumped out from another place. For years, the Aramco had a strategy to hire only their country nationals, but Colfax suggested them to change their tradition and should recall the era of 1931-1981 when western companies worked together with the oil companies of the Middle East and had enjoyed a time of mutual benefits. They can even hire Saudi locals to work with foreigner engineers which will in turn help the locals to learn something new from them. They also suggested that instead of hiring a number of inexperienced newly graduated engineers from the universities of India, Pakistan and Korea they should save their resources by hiring only few numbers of skilled engineers from the west. This will not only save their  resources but will give them expertise in producing more and more oil to meet the shortfall of high operational needs. Colfax had suggested that they are the only heavy industrial manufacturers with the unique positive displacement or DP pumps that are able to work in conditions in which other pumps are unable to deliver the required performance. They also had suggested a powerful and quick distribution plan with the help of their experienced sales person to work with Saudi locals to help them in Saudization policies. 3. Pros and cons of the solution from the marketing prospective. Pros The solution helped both the companies, Colfax and Aramco in their business development and expansion as it made both the companies to sign contracts with other companies for market recognition. From Aramco’s perspective, working with a western company made it able to give an exposure to its local work team to observe their working style as a learning opportunity. There were lots of growing opportunities for a quiet young company Colfax for working with such a big oil refinery in the Middle East. Aramco had an intense and aggressive plan of expansion for the next five to ten years, meaning that working with such a quick and mature company could open doors for the growth and expansion of Colfax. In case of the success of the plan Colfax could enjoy a good return on investment. Cons The solution was very expensive on behalf of Colfax because they were in need to make a huge investment to design and support a highly technical system and to offer a complex team of engineers. Moreover, Aramco had the right to cancel the agreement at a time when they feel that Colfax is not working impressively which means no return on investment. As the project was connected to a higher risk, the failure of which could result in a number of other issues for Colfax and could really disturb its overall balance and operating system. Oil and gas companies demanded extremely detailed documentation, particularly concerning how the products would be replaced or repaired. The oil company could, in theory misuse this very rich data for their own benefits.