Communication and patient safety( Literature Review) Research Paper

Communication and patient safety( Literature Review) - Research Paper Example It has also been found that there is a decrease in the number of medical errors made concerning patients. Furthermore, adequate communication also has an impact on nurses because they become more motivated in their work, which increases their efficiency. This efficiency helps the patient as it improves the care that they are given, and this leads to the patient’s swift recovery. In addition, various factors influence communication between nurses and patients, one of the factors is the complexity of the hospital and nursing systems; thus, the larger and more complex they are, the higher the risk that the potential for patient errors will be increased. Therefore, it is necessary to ensure that adequate communication between the various hospital systems is instituted so that the number of such errors can be reduced or done away with. Moreover, the value of care depends completely on the accuracy and completeness of information being available to the nurses who care for the patien ts. While this is important, it should be noted that the accuracy of the information becomes outdated over time and this is the reason why more, up to date information has to be collected to ensure that the caregivers provide the best service possible to the patient (Manojlovich, Antonakos and Ronis, 2009). On the other hand, Turkoski (2009) states that errors tend to occur when during the communication of a patient’s medication. This usually happens when there is a misinterpretation of the various abbreviations or acronyms to the drugs, which have been prescribed to the patient. This creates a situation where there is the potential of a patient taking the wrong drugs, taking the drugs at the wrong time of the day, or even worse, taking an overdose of the prescribed drugs. It is therefore necessary to ensure that errors in the writing down of instructions for the patient or caregiver are avoided and that the person writing the said instructions is alert at all times to the po tential of making mistakes. Among the recommendations made in Turkoski’s article is that there must be a standardization of all the abbreviations and acronyms for the drugs used in the medical field so that there can be no confusion over the type of drugs that have been prescribed. It has been found that many drugs have similar names that may lead to the nurse giving the patient the wrong medicine. To prevent such incidences, it has been recommended that capital and small letters be used to differentiate the drugs with similar names to avoid confusion. This will work to ensure that there is uniformity in the communication of medication and this will ultimately promote the safety of the patients to whom the medication is prescribed. With uniformity in communication, the work of the nurses will become less cumbersome because they will be able to be accurate in their administration of medication. Frankel (2008) states that in many hospital systems, there is always a breakdown in communication, this isbecause the nursing staff is usually afraid to report errors because of the potential of being punished. This fear has made it difficult for errors to be corrected and has ensured that the outcome for patients is greatly diminished. The lack of adequate communication has created a scenario where nurses are not able to conduct their activities efficiently and this has come to have a devastating impact on the safety of the

Laboratory Testing and Evaluation Report Essay Example | Topics and Well Written Essays - 1500 words

Laboratory Testing and Evaluation Report - Essay Example A theoretical study on their mechanical properties is also made. Samples of both finished materials having 1.2 mm thickness are tested against their mechanical properties which include universal testing and hardness testing. Another study of same grade of material which is kept under different process conditions is also made. Samples of 1.2 mm finished skin rolled SPCC steel versus 1.2 mm annealed SPCC steel were also studied in the same manner. As per discussing the chemical composition of the two materials, JISF (2011) had shown the allowable alloying percentage as given in Table 1. Table 1 Symbol of Grade C (%) Mn (%) P (%) S (%) SPCC steel 0.15 max 0.60 max 0.10 max 0.050 max SPCG steel 0.02 max 0.25 max 0.020 max 0.020 max However, the mill test certificates of the samples reveal following composition as given in Table 2 of the two materials: Table 2 Symbol of Grade C (%) Mn (%) P (%) S (%) SPCC steel 0.10 0.23 0.02 0.009 SPCG steel 0.002 0.17 0.019 0.007 As evident from the ste el grades, commercial SPCC steel is applied in forming applications, and extra deep drawing SPCG steels are meant to be deep drawn. These steels are widely used in various applications. SPCC steel is being used in the making of door hinges, pans, casings, galvanised steels, and profile sheets. Whereas SPCG steel is utilised in deep drawing applications such as motor cycle fuel tank, chain cover, etc. Chemical composition of the alloy steel is incredibly important because each element has its own role in varying the material properties. For instance, rust is a vulnerable defect of steels, and rust is basically the result of iron oxide formation (Blair and Stevens, 1995). Absolute iron is absolutely susceptible to rust. With the introduction of other elements, rust exposure is decreased. Higher percentage of alloying material decreases rust possibility and lowers percentage of alloying material; alloying material increases the risk of rust formation. Therefore, SPCG steel is more susc eptible to rust as compare to SPCC steel. Similarly, elements present in alloying composition also affect mechanical properties of the steel. Mechanical properties are to be assessed in this laboratory testing and material evaluation case study. 1. Structure of Materials Figure 1 (Blair and Stevens, 1995) is the iron-carbon phase diagram. It shows the percentage of Carbon influencing the microstructure of the steel. It is a low-carbon steel which contains carbon between 0 02 % and 0.15 %. Both material grades are the dead mild steel comprises mainly alpha ferrite and the traces of pearlite in its microstructure. These are extremely ductile and are therefore usually utilised as sheets for forming and drawing operations. Its microstructure seems white as of very less insignificant pearlite content steel. Both SPCC and SPCG sample materials lies in pearlite + ferrite region. Figure 1 2. Expected Theoretical Results The chemical composition of these steel is vitally important for assess ing mechanical properties. It is because lower carbon percentage in steel will affect the making of material, lowering its hardness, and a higher percentage of carbon will yield a harder material. Therefore, according to theoretical analysis, SPCC steel should be harder than SPCG steel due to a higher percentage of carbon. JISF (2011) specifies the range for the two material grades, as mentioned in Table 3, of different mechanical prope

Calculating National Income and Gross Domestic Product (GDP)

Calculating National Income and Gross Domestic Product (GDP) 1.0 Introduction of Task 1 In task 1, this task are about the economy of Europe and Japan grow rapidly, this will increase growth of real Gross Domestic Product (GDP) in the United States. The three country have their own market. Japan is free market and the economy of the United States is the worlds biggest single national economy. 1.1 Economy of Japan Japans industrialized and free-market economy. Japan is the third-largest country in the world. Japan economy is the highly efficient and competitive in areas linked to international trade, but productivity is lower and far in protected areas such as distribution,agriculture and services. Japan have some natural resources, and trade helps Japan to earn the foreign exchange needed to purchase the raw materials for its economy. As the worldwide demand for its goods tumbled, the Bank of Japan reported the real GDP growth of -5.5% in the final year of 2009. Japan recovered the slightly in year 2010 and reported the real GDP growth of 4.4 percent. 1.2 Economy of Japan United States (US) of GDP When the US economy slowdown or rebound, the comparisons to Japan seem to follow. Though the comparisons are debated, there has one idea which isn’t is the idea that Japan has had a â€Å"lost decade†. The main data for supporting this is the Nikkei, which still hasn’t returned to its 1990 peaks and Japanese GDP which has grown at a down pace for decades. It’s debatable whether an equity of average moving from extreme overestimate the territory to more reasonable valuations is a reflection of a stagnant economy. What’s not quite as debatable though is that growth of GDP has lagged the US. To refer appendix 1 . 1.3 Economy of Europe The European Economy since 1945 is a convenience, broad and frank account of the extraordinary development of Europes economy since the end of World War II. Barry Eichengreen is an American economist. He argues that the continents of history has been critical to its economic performance, and that it will be continue to so going forward. Economic growth was the facilitated by unite-centered trade unions, cohesiveness of employers associations, and growth minded of governments for all legacies of Europes earlier history. For example, these institutions worked together to mobilize savings, finance investment, and stabilize wages. 1.4 Economy of Europe United States (US) of GDP According to earlywarn (Stuart Staniford, 2012) showed that the graph about US and Europe real GDP of year 2007. Eurostat came out with the 4 number for GDP and, expected given the data stream of contractionary looking data out of the Europe lately. It showed a moderate of (0.3%) drop over the prior quarter. It was the contrast for both and it to the rather stronger for US data. The level of real GDP for both economies with both normalized to set Q4 of year 2007 to 100. The data are from Eurostat and the BEA. To refer appendix 2. 1.5 GDP of United States (US) The economy of the United States is the worlds biggest single national economy. The United States is a mixed economy and has maintained a stable overall of GDP growth rate,a moderate unemployment rate, and the high levels of research and capital investment. Its have five largest trading partners are Canada, China, Japan, Mexico and Germany. According to UsaToday (Pual Davidson, 2014) showed that he nations gross domestic product in the last three months of year 2013 increased at a 2.6% annual rate, up from the previous estimate of 2.4percent. Thats the governments third and final estimate of fourth-quarter of growth.The economy of US grew more briskly than the government previously estimated in the fourth quarter on stronger consumer of spending, among other factors. To refer appendix 3. 1.6 Conclusion of Task 1 In the conclusion of task 1, Europe and Japan both also will affect the US GDP. When the US economy slowdown or rebound, comparisons to Japan seem to follow. Europe and US GDP both are contrast for both and it to the rather stronger US data.The level of real GDP for both economies with both normalized. 2.0 Introduction of Task 2 In task 2 have A and B question. Question A are about the problem encounterd in calculating the national income. Question B are about the table of Country Xanadu for year 2012. 2.1 Task 2 (A): The Problems of Calculating the National Income. Accordig to Fahim Patel, the Content Manager of guesspapers.net showed that the problems will faced while calculating the national income.There have some of the problems and the difficulties that are usually faced while calculating the national income are as follows. When calculating the national income, there is that what should be included and what excluded with the respect to the services and product produced. This is one of the greatest difficulties of calculating the national income. Next problem is the calculation of the depreciation. The main cause of behind it is that because of both the amount and the composition of jour capital will change from time to time. There are no standard and concept rules of depreciation that can be applied. When depreciation is an estimate of correct deduction can be made until or unless these accurate depreciation estimates are not deducted from the estimate of net national product the net national income is bound to false. In addition to, the treatment of the government also is the problem while calculating the national income. Government will have some expenditures such as the defiance and administration expenditure, social welfare expenditure, payment of interest on national debts and the miscellaneous development expenditure. The reality problem that is faced relates to which of the above should be included in the national income. Another problem is the income from foreign firms. This is the major problem of relates to the fact that are weather the income arising from the activities of the foreign firms operating in a country should be included in the countries national income or not. Besides, double counting also is the problem. The proper of care is required for calculating national income so that double counting may not take place. This problem usually will occur in those countries where proper the documentation or statistics are unavailable. Lastly is the value of inventories. It is not easy to calculate the value of raw materials, semi finished the product and finished the goods in the custody of producers there fore it creates some problems. 2.2 Task 2 (B) : The Table of Calculate from Country Xanadu 2012 Formula Answer (RM) Gross Domestic Product at Market Price Private consumption expenditures + Gross investment +Government consumption expenditure + (Exports – Imports) 900 + 1000 + 800 + (2000 1000) =3700 Gross Market Price at Market Price Gross Domestic Price at Factor Cost Gross Domestic at Market Price + Subsidy – Indirect taxation 3700 + 200 – 500 = 3400 Net National Product at Factor Cost Gross Domestic Price at Factor Cost + (Exports Imports) Depreciation 3400 + (2000+ 1000) – 200 = 4200 Net National Output at Market Price Gross Domestic at Market Price + Net factor income from foreign countries Depreciation 3700 + 900 – 200 = 4400 The Net Investment Gross Investment Depreciation 1000 – 200 = 800 Corporate Profit 2.3 Conclusion of Task 2 In the conclusion of task 2, there have some problem will occur when calculating the national income. We have to avoid the the problem recurs again by more practice of the calculating the national income. References Staniford, S. (2012). Early Warning: US vs EU GDP Growth. [online] Earlywarn.blogspot.com. Available at: http://earlywarn.blogspot.com/2012/02/us-vs-eu-gdp-growth.html Patel, F. (2014). Difficulties Faced while Calculating National Income | guesspapers.net. [online] Guesspapers.net. Available at: http://www.guesspapers.net/1337/difficulties-faced-while-calculating-national-income/ Statista, (2014).United States Gross domestic product (GDP) growth rate 2014 | Statistic. [online] Available at: http://www.statista.com/statistics/263614/gross-domestic-product-gdp-growth-rate-in-the-united-states/ Murakami, Y., Patrick, H. and Yamamura, K. (1987). The Political economy of Japan. 1st ed. Stanford, Calif.: Stanford University Press. Neal, L. (2007). The economics of Europe and the European Union. 1st ed. Cambridge: Cambridge University Press. Stone, R. and Stone, G. (1962). National income and expenditure. 1st ed. Chicago: Quadrangle Books. Hiroyuki, O. (1992). Growth through Competition, Competition through Growth : Strategic Management and the Economy in Japan. 1st ed. [ebook] Oxford, GBR: Clarendon Press, p.203. Available at: http://library.olympia.edu.my:2051/lib/olympia/docDetail.action?docID=10274571p00=japan%20economy Kemal, S. (2009). Measuring the Economy : GDP and NIPAs. 1st ed. [ebook] New York, NY, USA: Nova, p.15. Available at: http://library.olympia.edu.my:2051/lib/olympia/docDetail.action?docID=10671149p00=united%20states%20gdp Steve, V. (2001). U.S. and Japan Relations in a Changing World. 1st ed. [ebook] Washington, DC, USA: Brookings Institution Press, p.262. Available at: http://library.olympia.edu.my:2051/lib/olympia/docDetail.action?docID=10026222p00=japan%20united%20states Appendix Appendix 1 Appendix 2

Controversy About Vaccinations Against Infectious Diseases Essay

Vaccination Against Infectious Diseases Vaccines are one of the most controversial topics in modern medicine and will continue to attract more attention in the years ahead. Most new parents dutifully take their babies to their doctor to be vaccinated, at the prescribed times. However, over the last few decades, there have been several scares concerning vaccinations, and the possible side effects of them. Some parents have refused to have their child vaccinated because of some of these scares, and the truth is, they have been blown out of proportion by the press and it can be very confusing for the general public. In order to balance this extraordinary influence, parents will need to make a well informed decision about vaccines for their children. It is, of course, very important that before anybody embarks on a course of vaccinations, they should know both the benefits and the risks associated with them. Therefore, in order to begin thinking about whether vaccinations should be compulsory for all children, there are some issues to be addressed. Some parents may feel it unsafe to put chemicals into such young children; especially if there have been uncertainties about particular vaccines. An example of this is the DPT (Diphtheria, Pertussis, and Tetanus) vaccine. Infants are meant to receive at 2/3/4 months. However, there are several side effects that parents fear, although very unlike to occur, they are very drastic and have stopped parents have letting their children have the vaccine. People have also been unsure about the effectiveness of the diphtheria vaccine, infact when the vaccine was once compulsory; there was a 17... ...errible diseases that could harm them, and since the vaccines have been introduced, there have been lower death rates in children. There may be some side effects to some of the vaccinations, but it is not worth risking not vaccinating them. It is unsafe to assume that herd immunity will wipe out the risk of catching the disease as so many parents today are not having their child vaccinated. I feel that it is a good idea that under most circumstances, vaccination against infectious diseases should be made compulsory for all children. In a situation when a child is more likely to react very badly to a particular vaccine, alternative methods could be used. But I feel it important that children of today are all immunised so that, in the future, hopefully, such diseases would not be a threat to the children of tomorrow.

Social Issue

Juvenile compensated dating and ways to tackle it It has recently arouse to the public’s attention that the issue of juvenile Enjo kosai, in English means juvenile compensated dating, has been worsening in Hong Kong. According to the survey reports conducted by The Family Planning Association of Hong Kong (FPAHK) in 2011 and the Hong Kong Association of Sexuality Educators, Researchers and Therapists (HKASERT) in 2009, 23% of school girls accepted compensated dating behavior with almost 24% among them accepted compensated dating with sexual transection; and nearly 5% of school girls had engaged in this immoral activity.School girls involving compensated dating may easily fall victim to both physical harm as well as mental illness. In order to alleviate this worrisome situation, people might propose prohibiting this immoral activity by legislation. However, it is not an entirely effective way to put an end on this issue. Rather, we have to combat with its root causes, girls inv olved in compensated dating since they have inadequate sexual knowledge, they are being materialist and they are lack of care and love.These problems can be tackled by arranging a compulsory sex education class, create a â€Å"Values of Life† topic in Liberal Studies and increase the number of school social workers. First, school girls involved in compensated dating because they have inadequate sexual knowledge. FPAHK’s Youth Sexuality Study (2011) revealed 67% and 19% girl respondents believe that external ejaculation is an effective contraception method and the number of sexual partners is not related to the chance of infecting sexually transmitted diseases respectively.School girls were lack of knowledge about the seriousness and the adverse effects of inappropriate sexual relationships. Both physical harm and emotional problem will inevitably result. They might get pregnant accidentally and they might suffer in venereal diseases, like AIDS and HIV, which are incura ble. Besides, they might lose faith in relationship and having impaired feeling of self-esteem. Consequently, they might suffer in mental illness like depression, or even suicidal thought. Their ignorance of sex knowledge led them to underestimate the vigilance of improper sexual relationship, as a result, they involved in compensated dating.Another root cause of compensated dating is school girls are being materialist. They desire for materials and money in order to show off to others or make others think highly of them. In their mind, the importance of money and materials transcend morality, dignity and chastity. The HKASERT’s survey of compensated dating (2009) indicated that 87% girl respondents involved in compensated dating to earn money to enable high consumption (for example, to purchase well-known brand handbags). School girls pursue for materialistic satisfaction, their greed for money and luxury gifts led them think these are much precious than their body and digni ty.Thus, school girls involved in compensated dating for supporting their conspicuous consumption. Apart from school girls’ ignorance and desire, lack of care and love also make a lead to their participation in compensated dating. They were lack of parental love due to various reasons like their parents had long working hours or even need to work abroad. The HKASERT’s survey report indicated that 43% girl respondents engaged in this immoral activity to look for the feeling of being loved while a huge partial among them were grown in single-parent or broken families.They might engage in compensated dating because of their pathetic background. So instead of blaming them for engaging in this immoral behavior unwisely, tackling this worrisome issue by arranging a compulsory sex education class, create a â€Å"Values of Life† topic in Liberal Studies and increase the number of school social workers are much more rational actions before the situation deteriorate. To c ombat compensated dating, most schools arrange some related talks. These talks might help to alert students about the seriousness of this improper activity shortly.In long-term, introducing a compulsory Sex Education Subject in primary schools and secondary schools could help to strengthen sex education among juveniles in Hong Kong. Sex Education has much more pressing needs than the national education. It could awaken school girls the seriousness and the adverse effect and improper sex relationship and strengthen their vigilance. However, sex education might result in the issue of compensated dating being more rampant as school girls access to relevant nowledge about the prevention of sexually transmitted diseases and contraception methods. Another way to prevent compensated dating is to develop a right value among girls. They engaged in compensated dating out of avarice. Create a new topic about Values of Life in Liberal Studies could help them to build up a right values of life, dignity and chastity should take precedence over money and materials, teach them to cherish their precious bodies. Spiritual wealth is much important than material wealth. They need not compare with others or follow the trend.However, it is hard to refuse following trends with friend under peer pressure or they might isolate by their friends. Besides, arrange more group activities or hiking trips so that they could feel the spiritual happiness from friends and the nature. Nevertheless, there might not be enough time for such time consuming activities. Often, girls engaged in compensated dating were grown in single-parent or broken families, they were lack of parental love and care; therefore, deploying additional social worker at school to care the need of those girls would be an effective approach.Social workers could express solicitude by chatting and communicating with them regularly in order to give girls feeling of being cared and love. Social worker could provide professional counseling support when they seek for assistance. It is worth though it would directly increase schools’ financial expenses. The above solution could help alleviating the worrisome situation of compensated dating. The most important way to tackle this issue is not by tough measures like forcing them to stop this immoral activity, this is just a palliatives way.Instead, by soft approach, strengthen their sex knowledge, building real values of life and showing care and love to them could help to alleviate the issue of compensated dating when they were conscious of the seriousness of this immoral behavior. ——————————————– [ 1 ]. Compensated dating: Men (male) give  money  and/or luxury gifts to women (female) for their companionship and, possibly, for sexual favors. (Wikipedia) [ 2 ]. Conspicuous consumption:  the spending of  money  for and the acquiring of  luxu ry goods  and services to publicly display economic power. (Wikipedia)

Luxury Car Market in India Essay

The Luxury goods industry is a very wide industry comprising of products from watches, jewellery, perfumes, expensive wines to yachts, expensive pens, and clothes. Goods for which demand increases more proportionally as compared to income, are known as ‘Luxury goods’, in contrast to a â€Å"necessity goods†, for which demand increases less proportionally to income. Some luxurious goods are bought due to the tag implied of a status symbol, such goods tend to signify the purchasing power of those who buy them. These goods are not always better in quality or appearance than their less expensive substitutes. The main purpose of purchasing these goods is to display the wealth of their owners. The industry is said to be highly cyclical and the driving force behind the growth of this industry is wealth worldwide, while the economic growth and conditions of various regions affect this industry. Jewellery has been part of the Indian civilization since ancient history. They were in fashion since ancient civilizations as Harappa and Mohanjodaro. Made out of almost any material, jewelry is basically adorned to highlight nearly any body part. Be it the traditional jewelry or the latest ones which are increasingly in demand, i. e. the costume & imitation jewelery. There is no dearth when it comes to accentuating the beauty with varied imaginative & stunningly designed jewelry items. This report has focused on luxury product categories & jewellery. The report provides an overview on the size of the market, importance of luxury goods, target market, problems faced and the various driving factors as well as the latest trends. The major global luxury market players have been profiled. STATEMENT OF RESEARCH QUESTION? The Indian gems and jewellery sector is also largely unorganized at present. There are more than 15,000 players across the country in the gold processing industry, of which only about 80 players have a turnover of over $4. 15 million. I want to evaluate the problems faced by the jewellery sector and come up with measures to help make the sector more organized. ?The rise of the middle class population in India is estimated to be around 120-150 million. Keeping this in mind I want to potray the market potential of luxury goods in India. ?India as a Manufacturing Hub for Global Luxury Brands. I want to study and evaluate methods adopted by major countries and conclude the possibility of India being the manufacturing hub for global luxury brands. THEORETICAL RATIONAL The advent of foreign luxury brands is in a way an indicator of the promising India growth story. Looking to reap early mover advantages, these brands have set up shop in our country. The Indian luxury market, currently in its growth stage needs to address key concerns like the lack of adequate retail infrastructure and limited availability of trained workforce for the trade if it wishes to promote luxury retail in the country. The world today is looking at India, and the products coming out of it. Our skills pool speaks of the highest level of craftsmanship and creativity as it has evolved and been refined by many generations that carry on the trade. India is also well poised to be an outsourcing destination for foreign luxury brands. The obvious benefits that India has to offer such as low labour costs, superiority of fabrics and customization, gives it an advantage over other mass producing countries. To achieve the objective of promoting indigenous brands and positioning India as a future manufacturing hub for luxury goods, consolidation in the industry is imperative. The need of the hour is for the industry players to create a sophisticated business model supported by financial and legal footings, and for the government to develop the requisite infrastructure. India’s luxury sector has gained significant speed. It has the potential and resources, to outshine other developing economies. Thus the route is chalked out and the objective is known. If the road can be cleared of challenges and impediments, luxury retailing in India will have a smooth drive ahead. THE EXPECTED IMPLICATIONS OF THE RESEARCH PROJECT FOR ORGANIZATIONS My research on luxury goods and jewellery is innovative because it brings together analysis of national discourses about Indian market with a study of the practices and choices of the Indian government and the luxury goods and jewellery sector. I believe this research can be helpful to the nation, development agencies, and indigenous organizations. I am particularly committed to sharing the results of my analysis with the Jewellers Association in India and hope that my work will not just be an extraction of truths, but will give them information with which they can help make the sector more organized. PRELIMINARY LITERATURE REVIEW Attempting to break into markets overseas is generally more challenging than trying to expand into new domestic markets. Globalization is the process of social, political, economic, cultural and technological integration among countries around the world. (Hodgetts / Luthans / Doh, 2006:pg. 7). Evidence of growth is seen by increased levels of trade, capital flows and migrations; a lot of changes in the environment have taken place. India is the world’s second most populous country; it has traditionally had more than its share of political and economic problems. The per capita GDP remains low, but the recent environmental trends have boosted thus helping to bolster a large middle and upper- class market for goods in the luxury and jwellery industry. The industry is dominated by family jewellers, who constitute nearly 96% of the market. Organised players such as Tata with its Tanishq brand, have, however, been growing steadily carving a 4% market share. As India’s jewellery market matures, it is expected to get more organised and the share of family jewellers is expected to decline. There are more than 6,000 players in domestic diamond processing industry. The average gestation period for setting up a diamond cutting and polishing unit is 15 months. The low gestation period, coupled with low capital cost allows easy entry into the sector. This has led to the industry being largely characterised by a large number of small scale players. However, just as in the case of jewellery, the share of the organised sector has increased significantly in recent years due to an increase in demand for better and finer quality of finished goods. India Gems and Jewellery Industry – Highlights Jewellery market size – $13 billion Diamond jewellery – $1. 2 billion Gold jewellery market growth year on year – 15% Diamond jewellery market growth – 27% (By bharatbook. com Dated: Jul 24, 2008). According to market reports, around 6- 7 million Indians can afford to buy luxury goods but hesitate to do so since they are unfamiliar with brands and products. With a growing millionaire base in India, the luxury market is growing annually at around 35% CAGR (The Economic Times: August 10, 2008) If India keeps the last three years average growth at 9%, the income levels of consumers is expected to almost triple by 2025. By 2025, it is estimated that India will become the fifth largest consumer market, rising from 12th largest today. High disposable income and a largely young population will drive consumption patterns upwards. With a huge youth populace below 25 years and having a 17% share of the world working population, India presents a huge market for brands across the spectrum. It is estimated that 52% of luxury customers are in the age bracket of 25-34years old. By 2033, the active age group 25-45 years is expected to be around one third of the population. With the average age of potential luxury consumers decreasing, the country is a goldmine waiting to be tapped. Given the core strengths of the manufacturing sector, India can well become a manufacturing hub for global luxury brands. Already brands like Louis Vuitton and Frette are looking at India as a manufacturing base for their products, but there are others who simply source their requirements from India. It is estimated that the manufacturing of luxury items in India can grow to US $500 million13. This manufacturing capability if harnessed properly can propel India as one of the leading destinations for manufacture. The cost advantages, particularly in labour intensive sectors like leather and accessories add to the advantage of the country. Luxury in India To be successful in India, it is both necessary to gauge the financial potential as well as the mindset of the Indian luxury consumer. This will help in bringing forth the right product offerings to the Indian consumer as well as targeting them better. Qualitative Insights 1. According to a study by American Express, ‘Inside the Affluent Space’, the mindset of the Indian consumer is a desire to prove that â€Å"I’ve Made It†. This can be related to the luxury categorization which is based on the fact that luxury is seen as a reward, both for achievements in life as well as showcasing these achievements to others. 2. The Luxury Marketing Council Worldwide has established a chapter in India, with the aim of promoting luxury in India. Their task will also be to build synergy between various luxury brands interested in India by way of sharing of consumer insights as well as best practices. 3. Even the Asian region is not uniform in its preference for luxury in terms of need fulfilment. Therefore, it becomes important to delineate the needs of the Indian consumer from the other Asian regions to target them better. This agenda gains importance because many Indians look at acquiring luxury from places such as Hong Kong, Tokya, China etc. Eg. It is interesting to note that Singapore consumers are more of connoisseurs compared to Hong Kong consumers who want Talk-Value from their luxury goods. 4. Hindustan Times has been at the forefront of driving the luxury revolution in India by organizing two Indian Luxury Conferences in the last 4 years. To add to it, it also brings out a monthly supplement of luxury goods available in India, thereby creating awareness for the luxury brands. Quantitative Insights. 1. As far as quantitative estimates are concerned, there will be 135,000 millionaires (in US dollar terms) in India by 2009. 2. The affluent market is set to grow at a rate of 13% in India, and by 2009, there will be approximately 1. 1 million affluents here. 3. The wealth potential of India’s affluents was to the tune of US$ 203 billion as of 2005. HYPOTHESES Keeping my literature review in mind my hypotheses would contain: Aim †¢The aim of this research is to study the different entry strategies and analyse which strategy is the most appropriate for luxury goods and jewellery in India. Objectives †¢Develop a case study on Indias luxury goods and jewellery industry and its progress to date and to seek secondary information that relates to entry strategies in the luxury goods and jewellery business. †¢Study the luxury goods and jewellery industry environment and Indias modifications. DATA SOURCES AND THE JUSTIFICATION FOR THE CHOICE Secondary Data Source The secondary data source would be documentary data: books, electronic media, and articles published in journals and newspapers which would help to answer the research question. Primary Data Source. To validate the finding of the research, interviews will be taken from the people who are in the jewelry and luxury goods industry. Semi structured interviews will help in putting across our research question and also listening on the topic area which interest the interviewee. Questionnaires data under this would help me to evaluate the general perceptions. Sample Size of primary Data Large qualitative methodology will be adopted for primary data collection. A survey conducted by e-mail questionnaire. A sample size of a few questions will be analyzed and interpreted with an approval from the supervisor. Method of Data Collection The literature search will aim to be comprehensive, but restricted access to primary literature. The collection of primary data will be based on a survey; the number would be restricted due to the restrictions of time to complete the project and resources to support it. I intend to collect data from luxury goods and jewellry industrialists who include manufacturers, exporters, traders, agents, lecturers, and students through questionnaire. Surveys and questionnaires will be administered on paper, in different formats. All may take place in person, or by mail, over the phone or via Internet/ Email. Data Analysis Both qualitative and quantitative techniques will be used in this research. The data obtained from the questionnaire will be analysed using quantitative technique. An interview and data which is collect from secondary source will be analysed qualitatively.. Interview data will be transcribed and then analysed qualitatively. Here, qualitative research would be used explore and understand peoples beliefs, experiences and attitudes. And quantitative research would be all the numerical data which would be from the surveys and questionnaires. RESEARCH DESIGN Dissertation Time Plan. MonthActivity December 3rd/4th weekStart thinking about the research ideas and data collection January1st/ 2nd weekLiterature searching and define objectives. January 3rd/4th weekLiterature searching/ writing. Submission of proposal Febuary1st/2nd weekDrafting of literature review/ working on Research Methodology/Conduction Interviews/ Meeting the tutor and taking a feedback February3rd/4th weekChecking literature review/ Analysis of the data collected and linking theories to the case study. July 1st/2nd weekMeeting tutor and check for final revision. July 4th weekSubmission of final draft. METHODOLOGY TO BE EMPLOYED The research for this dissertation would be done using multi-methods this is because different methods can be used for different purposes in this study. The research would have an inductive approach as I would collect data from companies and bring out responses to the research questions. The time horizon would be cross- sectional because this study is of particular trend, and not longitudinal analysis as they are made on observations over a period of time. The data collected would be by multi-methods i. e. qualitative and quantitative. These methods would be used to study the changes in environments. There would be secondary data to analyze the changes within the context of the organization. Details of any ethical considerations and steps taken to meet potential ethical concerns. Luxury goods should not be confused with the moral legitimation of their consumption. Especially if you are yourself a merchant who profits from the trade in luxury goods. Spending money on luxury goods, does good to the poor by inducing them to exert the industry, rather than keeping them idle. Hence creating employment for the poor. This kind of justification takes the issue of motivation for granted, that is, it assumes that people desire to consume luxury goods with a good conscience, thus keeping money in circulation. The following steps can be taken to meet potential ethical concerns: †¢Raising awareness of the code with subsidiarys. †¢Evaluation of the ethical monitoring programme. †¢Further monitoring of additional high risk suppliers from whom the company sources goods †¢ †¢Respect the use of banned substances/chemicals and provide an â€Å"alert service† to the retailers. References Books †¢ Charles W. L. Hill (2003), International Business †¢ Financial Times Management (1999), Mastering Global Business. †¢ George S. Yip (1992), Total Global Strategy. †¢ Gill, J. and Johnson, P. (1997) Research Methods for Managers (2nd edition), London, Paul Chapman. †¢ Harold chee, Rod Harris (1998), Global Market Strategy. †¢ Helen Deresky (2006), International Management, 5th edition: Managing across borders and cultures. †¢Hodgetts, Luthars, Doh (2006), International Mangement: culture, strategy and behaviour(6th edition), America, Mc-Graw-Hill/Irwin. †¢Isobel Doole, Robin Lowe (2004), International Marketing Strategy: analysis development and implementation. †¢GEMSTONES By Ronald F. Balazik †¢Fortune Magazine, 2007 †¢Mintel International Group, 2006 Websites †¢AmCham Shangai, http://www. amchamshanghai. org/AmchamPortal/MCMS/Presentation/Publication/Insig ht/InsightDetail. aspx? Guid=%7BFCCD3DCF-18BB-4705-9C8D-C677B764ACE1%7D †¢The Economist, August 2007 http://www. economist. com/business/displaystory. cfm? story_id=9005244 †¢Seeking Alpha http://seekingalpha. com/article/15478-growth-in-chinas-luxury-goods-market-to-be-fueled-by-2nd-tier-cities †¢http://www. just-style. com/store/product. aspx? 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The Magazine, The Luxury Institute http://www. luxuryinstitute. com/about/news. html †¢Forbes, 2005 http://www. forbes. com/2005/06/22/luxury-wealth-trends-cx_sr_0622luxury. html †¢Wikipedia, http://en. wikipedia. org/wiki/Concierge_medicine †¢Forbes, 2005 http://www. forbes. com/2005/06/22/luxury-wealth-trends-cx_sr_0622luxury. html †¢WWD The Magazine, The Luxury Institute http://www. luxuryinstitute. com/about/news. html †¢The Economist, August 2007. http://www. economist. com/business/displaystory. cfm? story_id=9005244 †¢US Chamber of Commerce, January 24, 2007 http://www. asiapacificms. com/articles/korea_counterfeits/ †¢http://www. iltm. net/en-gb/press/pressreleases680. cfm nation master. com Articles †¢Luxury goods market in India keep its cool – 10 Aug 2008, †¢The Kirk Report Problems With Luxury Goods -TUESDAY, OCTOBER 23,2007 †¢Market for luxury goods: THE CASE OF THE COMIT? – COLBERT By Giacalone, Joseph A Publication: Southern Business Review Date: Fall 2006 2006 †¢Why The Luxury Market Continues To Roar by Alf Nucifora.