The History of the Invention of Blue Jeans and Denim

The History of the Invention of Blue Jeans and Denim In 1853, the California gold rush was in full swing, and everyday items were in short supply. Levi Strauss, a 24-year-old German immigrant, left New York for San Francisco with a small supply of dry goods with the intention of opening a branch of his brothers New York dry goods business. Shortly after his arrival, a prospector wanted to know what Mr. Levi Strauss was selling. When Strauss told him he had a rough canvas to use for tents and wagon covers, the prospector said, You should have brought pants! saying he couldn’t find a pair of pants strong enough to last. Denim Blue Jeans Levi Strauss had the canvas made into waist overalls. Miners liked the pants but complained that they tended to chafe. Levi Strauss substituted a twilled cotton cloth from France called serge de Nimes. The fabric later became known as denim and the pants were nicknamed blue jeans. Levi Strauss Company In 1873, Levi Strauss Company began using the pocket stitch design. Levi Strauss and a Reno Nevada-based Latvian tailor by the name of Jacob Davis co-patented the process of putting rivets in pants for strength. On May 20, 1873, they received U.S.Patent No.139,121. This date is now considered the official birthday of blue jeans. Levi Strauss asked Jacob Davis to come to San Francisco to oversee the first manufacturing facility for waist overalls, as the original jeans were known as. The two-horse brand design was first used in 1886. The red tab attached to the left rear pocket was created in 1936 as a means of identifying Levi’s jeans at a distance. All are registered trademarks that are still in use.

Introduction to GPS and static positioning Essay

Introduction to GPS and static positioning - Essay Example The system was introduced by the US military but today anyone can access its services through the use of a GPS receiver (McNamara, 52). The satellite system uses a trilateration principle to determine the location of the receiver (Maini and Varsha, 428). In three dimension trilateration, the requirement for the system to generate the exact location of the receiver is a direct line of signal from at least three satellites and the distance between a receiver and the satellites (Maini and Varsha, 411). These details are obtained by the receiver from analyzing the high frequency radio signals from the satellites. This distance is derived from a calculation of the time used by the frequencies to travel from one satellite to the receiver on a location that is on earth. This measurement is only possible if the time in both the satellite and the receiver are synchronized. Otherwise the delay would not give an accurate value of the distances obtained. To synchronize the time in space and the time in the atmosphere where gravity pulls are varied requires both the receiver and the satellite to have atomic clocks. However atomic clocks are very expensive and as such, the GPS system uses an error correction method that involves the fourth satellite. From the fourth satellites transmission of signals, the inaccuracy in trilatration is appropriately adjusted (Maini and Varsha, 308). The calculation for the error adjustment by the receiver is repeated several times to make the receiver just as effective without the atomic watch for synchronization. Further errors are bound to arise in the process of calculating the distance and location of the receiver. These include the effect of delays of signals in different layers of the atmosphere. However, the speed of electromagnetic waves is not affected and travels at the same speed as that of light. In different substances, the speed is considerably reduced. These variations in the speed of the waves are

Tourism and the Economy Research Paper Example | Topics and Well Written Essays - 1500 words

Tourism and the Economy - Research Paper Example What are the strategies important for the development of tourism industry? What are the factors that may influence the growth tourism industry? Literature review Economic importance of tourism industry According to UNWTO (1) â€Å"In 2011, international tourism receipts exceeded US$ 1 trillion for the first time, up from US$ 928 billion in 2010.† Tourism industry as a growing service sector is diversified and includes hotels, airlines and other transportation, resorts, parks, shopping malls, motels and entertainment venues. It could be observed from the World Tourism Barometer furnished by UNWTO (2), that the growth of tourism industry in BRIC countries has been phenomenal during the year 2011 with Brazil at 29.5% (Rank from 18 to 12), Russia at 22.1% (9 to 7), India at 32.9% (24 to 22) and China at 32.2% (no change) with US and Euro zone though positive with less than 10% growth. Growth of tourism is largely linked to recent economic growth in these economies. For some small countries like Singapore, Dubai and Fiji, tourism industry is the major source of foreign exchange. Tourism sector plays an important role in employment generation. UNWTO (3) stated â€Å"Participants at a major United Nations Conference on Trade and Development (UNCTAD XIII) have underscored the role of tourism as a vital service sector, contributing to GDP and employment in developed and developing countries alike.† Stability and growth in earnings in this sector would lend flexibility in management of balance of payments position of a country, if the potential of this industry is recognized and necessary initiatives taken by the government for its growth. Development of tourism industry The growth in international trade and businesses due to globalization is closely linked to the development of tourism industry. The tourism industries of emerging economies like China and India have been benefited greatly by industrial developments. However, marketing in respect of individu al companies in the industry should be backed up with effective planning and establishment of standards and communication facilities for sustainable future growth. The standards adopted in the industry and the categorization of customers or services offered underwent significant changes over time. Sharpley and Telfer (2008, p. 27) stated â€Å"Approaches to tourism development, then, have evolved over time from traditional, modernist economic growth models through to sustainable approaches that attempt to balance tourism as a profit-driven, resource-hungry activity with the developmental needs of destination environments and communities.† Diversity in workplace is very important for meeting the demands of the customers with different cultural and social backgrounds. The unique feature of this industry is that the languages spoken and customs, habits and behaviors of the customers vary significantly. Also, the types of services offered are multifarious from catering and lodgin g to recreation, health, sports, travelling and event management. Therefore, role of HRD in recruitment, placement and training is very important. Retaining and attracting talents to businesses is a challenge to the industry. The tourism industry has successfully weathered the European financial crisis. Economic growth in the developing countries is expected to help industry’s growth. Convergence of technology and emergence of social networks have acted as a catalyst for the business growth

Biology of food Essay Example | Topics and Well Written Essays - 1250 words

Biology of food - Essay Example Insulin and leptin regulate food intake and body weight, thus consumption of high fructose corn syrup sauce contributes to increased energy ingestion and weight gain. This is because high fructose corn syrup is absorbed faster than general sugar (glucose) and it does not fuel the manufacture of insulin or leptin. This prevents body signals triggers for being full and leads to over consumption of calories consumed. Consumption of this sauce leads to the body storing the excess calories as fat. This fat storage is commonly evident with the increase of obesity rates and other diseases i.e. diabetes in America. 2.So here's our cow Rupert, trudging down to the Rio Grande, then back up to the plains to graze.   Nivanka starts trying to visualize what's going on in his leg muscles. Muscle tissue is disseminated almost everywhere in the body. Muscles are responsible for the movement of materials within and throughout the body. Muscles contain 4 unique characteristics: elasticity, extensibi lity, contractility, and excitability. Each skeletal muscle is made up of fascicles; which are bundles of muscle fibers. Muscle fibers have myofibrils; which are composed of myofilaments. Actin and myosin are located in muscle fibers. They play a role in muscle contraction; producing movement. In regard to muscle movement, the protein heads of myosin cross- bridges connect to an actin binding region and bend slightly; heaving actin filaments with it. This aids the muscle in movement production. Tropomyosin covers up the regions of attachment when the muscle is not contracting. ATP helps muscles to perform their functions. ATP is made by the muscles. The following steps make ATP: creatine phosphate is broken down by the addition of ADP to create ATP. Second step: Anaerobic respiration is carried out; glucose is broken down to lactic acid ATP is formed. Third step: Aerobic respiration is carried out, glucose, fats, amino acids, and glycogen is broken down in the existence of oxygen to create ATP. Energy obtained from ATP is used to reorganize the myosin cross- bridge protein head and liberate the actin filaments. The force of contraction in a muscle cell is generated by the cyclic interaction of two proteins, namely actin and myosin. The free energy that drives this reaction is obtained from the hydrolysis of ATP. ATP binding provokes a conformational revolutionization in myosin that deteriorates its actin affinity and causes myosin to detach from actin. ATP is hydrolyzed to ADP and inorganic phosphate , and the hydrolysis products linger bound to myosin. Myosin rebinds to actin and the energy generating power-stroke convoys subsequent phosphate release. ADP is released, and the cycle reiterates upon ATP binding. When ATP connects to the myosin nucleotide location of an actomyosin complex, the myosin is quickly released from the actin filament. Myosin splits the ATP, and the myosin-products multifaceted rebinds to actin, pursued by product release. No, Rupert wo uld not get very far as he would run out of ATP quickly. This is because the up and down activity requires energy. Energy is used in the form of ATP. In the absence of ATP, myosin binds tightly to actin. 3. Fortunately, there's more going on in cow muscles.   A molecule of glucose enters the cell.   Things happen to it in the cytoplasm.   Describe those things, taking care to mention: The following are the enzymes responsible for activities that take place when a molecule of gluco

Roots of Hindu-Muslim Tension in India

Roots of Hindu-Muslim Tension in India India has had a long history of religious violence, stemming as early as the Middle Ages when Muslim expansion spread into the Indian peninsula to the British Invasion of the middle 19th century. Various events throughout history have contributed to the tension between the Hindus and the Muslims; some Indians converted to Islam to lessen tension, but the fragile coexistence between Indian Hindus and Indian Muslims continually gave way to violence between the two groups.       As basic context, Hinduism is considered one of the worlds oldest religions. It predates Christianity and Islam by centuries. Hinduism is a difficult religion to understand because it doesnt have a strictly structured set of beliefs. In more ways than one, Hinduism is inclusive of other religions, such as Christianity, Jainism, Buddhism, etc. It is often considered more of a way of life or a philosophical set of beliefs rather than a religion as other faiths would be considered to be. Hinduism views life as a cycle of birth, death, and rebirth, with Karma acting as a guiding force. Islam is a monotheistic religion based on the teachings of the Prophet Muhammad, who lived between 570-632 BCE. Followers of Islam are called Muslims and Muslims worship the Supreme Being, Allah, and follow his revelations contained in their sacred text, the Quran. This history of Hindu-Muslim tension has mostly been studied in political sciences, as it is one of the most striking examples of Indian Politics, and the question of how and why riots occur has been a pressing issue for years. However, such history is also discussed in religious- studies professors, such as Valerie Stoker, a religion philosophy and classics professor at Wright State University. Her book, Polemics, and Patronage in the City of Victory: VyÄ satÄ «rtha, Hindu Sectarianism, and the Sixteenth-Century Vijayanagara Court, uses the Vijayanagara Court as a way to understand the dynamic interaction between religious and royal institutions during the time period of 1346-1565. While Stokers main question is how did the patronage activities of Indias Vijayanagara Empire (c. 1346-1565) influence Hindu sectarian identities?, she addresses that the Vijayanagara Court was actually very selective in its patronage of religious institutions. The Vijayanagara Court was the precolonial Southern Indian primary political power, with Vijayanagara, meaning city of victory for its status as the center for emerging global economy. It attracted merchants and business from Europe, Africa, and the Middle East. Because of the wealth Vijayanagara Court had acquired by the early 1500s, it had become one of the greatest and most diverse urban populations of the world. Due to the increased interest from the Middle East and invasion of northern India, it was primarily known as a Hindu wall against Muslim invasion. Geographically, Vijayanagara Court was located in the center of the country, encompassing people primarily of the Hindu and Christian faiths, as shown in Map 1. In Map 1, the region that is indicated by Vijayanagara is the only region that is still primarily Hindu and Christian, and its important to note that all of the other regions above have been marked with Muslim invasions, such as: Faruqi Imad Shahi Nizam Shahi Barid Shahi Qutb Shahi Shitab Khan The origins of the Vijayanagara Court have been noted to be the result of the Sangama Dynasty of 1336-1337, in which the rulers, Harihara I and Bukka Raya I, were commanders-in-chief when stationed in the Hoysala Empire to ward off the Muslims during the early invasion attempts of South India. The Hoysala Empire was the last of the Hindu states that survived the invasion at that time. However, these origins are not confirmed, but Stoker claims that after the death of Hoysala king, Veera Ballala III, during a battle against the Sultan of Madurai in 1343, the Hoysala Empire merged with the growing Vijayanagara empire. Until 1509, the Vijayanagara Court warded off five invasions from the Deccan Sultanates, five dynasties combined into one large empire. These five dynasties included the Muslim-ruled late medieval kingdoms of Bijapur, Golkonda, Ahmadnagar, Bidar, and Berar of south-central India. This Sultanate seems to be what caused bitter relations between the Hindu and the Muslims bec ause at this point in time, beginning 1500 AD, India went through an extensive period of religious violence at the hands of the Sultans Army. Of the two sects of Islam, the perpetrators were Sunni Muslim and the primary victims were Hindus. Between the years of 1000 and 1500, the population of the Indian subcontinent had decreased by eighty million. Even the Hindus that has converted to Islam were not spared in the violence. Stoker primarily focuses on South India, and religion is mainly discussed in the chapter called Hindu, Ecumenical, Sectarian: Religion and the Vijayanagara Court, in which the above information stems from. However, it is important to note that the Vijayanagara Court in itself, as a strong Hindu Empire, had strict rules on which sect of Hinduism would primarily be followed and which sect had the governing power during the reign. Within Hinduism itself, there are many sects. These sects, since Hinduism has no central doctrine, follow traditions and beliefs in accordance of the three main gods: Shiva, Vishnu, and Brahma. Shiva, being The Destroyer, Vishnu, being The Protector, and Brahma, being The Creator. The Hindu denominations who follow Brahma as their guiding force, are the ones that considered to be the most pure and the utmost followers of Hinduism. Historically, the Brahmins; followers of Brahma, were primarily the royalty or upper middle class. So, the Vijayanagara Court were also strong Brahmins, and Vijayanagara royals religious patronage played a critical role in shaping the various practical mechanisms that enabled the empire to function (Stoker, Chapter 6). Now, it is important to note that the Vijayanagara Court wasnt always governed by the Brahmins. Originally, when the empire was created, the founders, Harihara I and Bukka Raya I, were strong devotees of Shiva. Despite their sectarian preferences, the Vijayanagara rulers, on the whole, adopted the deliberate policy of tolerance towards all sects to incorporate them all within the policy. The next ruler after Harihara and Bukka Raya, Devaraya II, took over the empire and was deemed the most successful of all of the rulers that had power over the Vijayanagara Court. Devoutly religious, Devaraya II endowed Sri Vaishnava temples at Srirangam and Tirumalai, and favored Jain institutions in the capital and elsewhere since the highest form of devotion was found in intricate temples. Most importantly, Devaraya II employed Muslims in his army and allowed them to practice their religion freely. Thus, Vijayanagara royals well-maintained Indian traditions of tolerance and inclusivism that nevertheless privileged specific religious formations. That is quite different from European states in the same period, which, for the most part, waited until the Enlightenment to recognize the political value of religious tolerance. Yet while in some ways, these enlightened Indian attitudes toward religious diversity. To contrast the heavy emphasis on precolonial South India that Valerie Stoker places in her monograph, Audrey Truschke, a postdoctoral fellow at Stanford University, discusses the Northern Indian aspect of the Hindu-Muslim tension in a chapter of her new book, Culture of Encounters: Sanskrit at the Mughal Court. Truschke argues that most of the religious conflict India is fueled by ideological assumptions about that period [medieval times] rather than an accurate rendering of the subcontinents history. In pages 27-63, Truschke discusses the influence of Brahmins in the Mughal Empire, which was the primary governing Islamic empire of the North. The Mughal Empire was about a century later than the Vijayanagara Court, ruling during the sixteenth and seventeenth centuries, founded near the end of the Vijayanagara Court, in 1526. Babur was the founder of the Mughal Empire, and subsequently its first ruler. He invaded India from Central Asia with only 12,000 men, and defeated many larger armies, eventually forming the Mughal Empire. Humayun, Baburs son, lost control of his empire soon after taking the throne. With the help of his Persian advisors, Humayun regained his empire and even expanded to the South and East. It is important to note here the Persian influence and the help of Persian and Central Asian advisors straightened what was to be a long lasting cultural impact from the subcontinents western neighbors. Later during his reign, the presence of Persian advisors was a constant feature of his court. The Emperor Akbar the Great, who ruled the Mughal Empire from 1556 to 1605, was one of the most important Mughal rulers for fostering religious cohesion amongst Muslims and Hindus. His trusted friend and advisor, Abul Fazl, wrote a book, the Akbarnama (Truschke, Chapter 4), describing the rule of emperor Akbar including Akbars religious views and policies toward Hindus. Abul Fazl wrote a lot about the interactions and policies that the Muslim government established in response to the Hindu majority. This shows the tolerance of the Muslim leadership toward another religion in order to keep power peacefully. The text even talks about the similarities in the religions. The tolerance and acceptance shown to the Hindus by the Muslim rulers of the time were a politically savvy move. Ruling an empire where the majority of the population did not have the same religious views as the ruling class presented many obstacles, and required the Mughal rulers to practice religious sensitivity in orde r to maintain power. However, what is interesting about Truschkes argument in the first chapter of her book is that she also finds it important to highlight that the Muslim invasion wasnt all negative. While it is not to lessen the negative impact of Muslim Invasion on the Indian subcontinent, it is also important to note that Muslim rule in India from the 16th to 18th centuries was, in fact, one of tremendous cross-cultural respect and fertilization, not religious or cultural conflict. She said her research overturns the assumption that the Mughals were hostile to traditional Indian literature or knowledge systems. In fact, her findings reveal how Mughals supported and engaged with Indian thinkers and ideas. Early modern-era Muslims were, in fact, deeply interested in traditional Indian learning, which is largely housed in Sanskrit, says Truschke. For example, in the Vijayanagara Court, Brahmins were the primary governing Hindu denomination; similarly, in the Mughal Empire, the Brahmins had detailed interactions with the intellectuals of the Mughal Empire. The Brahmins became influential members of the empire through composing Sanskrit works for Mughal readers and through writing about their imperial experiences. Through this observation, it seems as though Truschke looks at the Hindu-Muslim interaction in a precolonial era of the Indian subcontinent more positively than in contrast to the more common, media-based views that assume that Muslim interaction and presence has always been malicious to Indian religions, languages, and culture. This example of Mughal artwork depicts Emperor Akbar presiding over discussions in the Hall of Religious Debate, ca. 1600. (Image credit: Chester Beatty Library, Dublin). The original painting is found in Dublin, and naturally, the image has been cleaned through computer graphics. This artwork is found in The Akbarnama. Akbarnama means Book of Akbar and it is an official, imperial biography, written by Akbars close friend and associate, Abul Fazl, who was mentioned earlier in this essay. In the illustrations to the text, Akbar is portrayed as a powerful, versatile, and heroic figure, as he seems to have been perceived by his contemporaries. In this painting, however, another aspect of the emperors personality is portrayed: his intense curiosity about other religions. Akbar is shown in the midst of a theological debate with Jesuit missionaries in his Ibadat Khana, or House of Worship. Hindu-Muslim has long been a source of conflict in India and the Indian subcontinent as a whole. While it was not discussed in this paper, religious violence began as early as the 7th century with the earliest of Muslim invasions, and that time onwards, the conflicts have only risen. From the Vijayanagara Court to the Mughal Empires, hundreds of invasions and wars have been fought. The Mughal Empire was the precursor to the British Empire, who brought a new wave of imperialism once again in the Indian subcontinent. This occurs in the beginning of the 19th century. The British benefited from pitting Hindus and Muslims against one another and portrayed themselves as neutral saviors who could keep ancient religious conflicts at bay. While colonialism ended in the 1940s, the modern Hindu right has found tremendous political value in continuing to proclaim and create endemic Hindu-Muslim conflict. More of the British invasion, and the Partition of 1947 will later be discussed in paper two . Works Cited:    Fazl, Abul. Akbar and the Jesuits. 1600-03 India. Chester Beatty Library, Dublin, Ireland. Chester Beatty Library Image Gallery. Chester Beatty Library. Web. 14 Feb. 2017.http://www.cbl.ie/cbl_image_gallery/collection/detail.aspx?imageId=99ImageNumber=T0004641collectionId=2page=8>. Mughal Artwork from the Akbarnama book written by Abul Fazl Truschke, Audrey. Culture of Encounters: Sanskrit at the Mughal Court. Columbia University Press, 2016, www.jstor.org/stable/10.7312/trus17362. Stoker, Valerie. Polemics and Patronage in the City of Victory: Vyasatirtha, Hindu Sectarianism, and the Sixteenth-Century Vijayanagara Court. Oakland, California, University of California Press, 2016, www.jstor.org/stable/10.1525/j.ctt1kc6jt3.

Melvilles Characters/comparison Of Captain Ahab And Billy Budd :: essays research papers

Melville’s Characters   Ã‚  Ã‚  Ã‚  Ã‚  Melville’s characters are distinct individuals that have some similarities and differences. There are three traits that tie Captain Ahab and Billy Budd together even though they are on different sides in the fight between Good and Evil. They each have communication problems that play a part in their deaths. Neither of them can see an issue from another point of view, nor can they be influenced by others, although for entirely different reasons. Ahab and Billy share a few traits even though they are generally opposite characters. Communication problems are one of the factors that lead to Ahab’s and Billy’s deaths. Ahab never tells the entire truth to his men. He only tells them the parts that he thinks will motivate them to help him catch the whale. If the entire crew had been told before they signed on to help that they would be hunting the most dangerous whale in the sea none of them would have gone on the voyage and died. Also, Ahab is so inflexible that no matter how heated the conversation gets, he won’t change his opinion. Starbuck can’t talk any common sense into Ahab, he’s just too stubborn. If Ahab had listened to Starbuck, he might have died an old man instead of the way he did. Billy’s communication with others helps and hurts him. When Billy talks to people they almost always come away from the conversation with good feelings about Billy. He makes a lot of friends that way. However, Billy has troubles communicating too. He cannot sense if the person he is talking to is truthful or not. He talks to Squeak several times but never even guesses that Squeak is talking to him for mischievous purposes. Billy also stutters when he’s overcome, when he can’t find words to describe the emotions he is experiencing. He ends up dying because of this character flaw.   Ã‚  Ã‚  Ã‚  Ã‚  Neither Ahab or Billy can see more than one side of an issue. Throughout the entire trip, Ahab never thinks of chasing the whale as something dangerous, something that shouldn’t be done. Nearly everyone else on the ship, excluding Fedallah, thinks that chasing after one whale, the most dangerous whale in the entire ocean, is crazy and that it’s an unnecessary risk of the crew’s lives. But Ahab, because of his inability to consider his crew’s views about the hunt and because he can only think of the whale as pure evil, condemns them all to death.

Daewoo General Motors International Case Essay

Q 1. What are the advantages and disadvantages of a hands-off, decentralized management approach? Advantages of Decentralization Decentralization will not work unless you really delegate both responsibility and authority. This means that the final decisions must be made at that lower level. You just can’t beat a decentralized system. It gets decisions closest to the level where the action really is. And it really does something for people. The executives are now essentially running business of their own. The companyhas confirmed their authority by making it very clear it will not let people dissatisfied with their decisions ‘jump’ over to the home office. Finally, getting the decision-making out of the home office creates something like a family feeling in the outlying location. People there begin to depend on each other. Disadvantages of Decentralization This means that the final decisions must be made at that lower level. Two things stand in the way of this working. One isthat the people who now have the authority may not let go of it. The other is that the people at lower levels may not want to accept it. One of the problems, which decentralization aims to solve, is that the chief executive never has enough time to think about the major problems affecting the future of the operation. Q2. How Can Daewoo Stay Competitive with the Japanese ? Auto industry is important to developing countries is this intensive linkage. Most of developing countries selected auto industry as one of the prime elements for launching industrialization in the country. An independent auto maker and to be global top ten as in Daewoo’s long range plan, with 3.5 million production indomestic (3.0 million) as well as in overseas plants (2.5 million) could not achieved without the success of globalization.The leadership in domestic market might be another important factor. Korean auto makers including Daewoo has tomeet the challenges from the Japanese auto industry in domestic market from the beginning 2012. The severecompetition in world auto industry induces the forecasting that only  global top ten auto makers could survive in near future. We need more time to see whether or not Daewoo could meet the success the globalization and how Korean automaker, Daewoo could getover the manifolds challenges to be a global auto maker & key to success is the policy of Globalization. Q.3 . What were some of the controllable and uncontrollable factors in this case? How should Mr. Kim have responded to those factors? Controllable factors  Kim deserves the most credit for the conglomerate initial success and responsibility for its ultimate failure Despite Daewoo’s initial achievements, the financial crisis fully exposed the weakness of its concentrated governancestructure. The concentration in decision-making power proved fatal when the conglomerate faced a crisis and Kim’s business acumen, ethics and principles faltered. Returning to its roots, Kim viewed the crisis as an opportunity for Daewoo to expand, not retrench, by acquiring distressed companies and turning them around. Kim’s autocratic control further centralized and decision-making suffered as a result of a generation change of his closest advisors. Kim had personally recruited many of these senior executives and they had grown together with the conglomerate expansion Until the mid-1990s, the key executives that surrounded Kim consisted of those that had been with him since Daewoo’s establishment. Uncontrollable factors The representative directors, boards of directors and statutory auditors of Korean conglomerates failed to fulfill their role as fiduciaries working on behalf of the interests of shareholders at large. They did not prevent controlling shareholders from taking advantage of non-controlling shareholders and other stakeholders as a result. Non-executive outside directors did not exist until they were required in 1998. This weakened potential checks and balances against the controlling shareholder Weak corporate governance of conglomerates and their vast network of companies had a devastating effect when the1997 financial crisis hit. Q4. What do you think of Daewoo Expansion into Europe? What are the advantages and risks for the company? Advantages Daewoo’s currently at the crossroads of its European expansion in the automobile market. GM Daewoo has been successful in managing to market essentially the same cars in many parts of the world, particularly in the NorthAmerican and Japanese markets. Executives are wondering whether they should adopt more localized product level opment in Europe or not. Risk The rebranding comes as GM seeks to make a comeback in the global auto market, after having been hit by the global financial crisis, completing the world’s biggest-ever initial public offering in November. Its South Korean unit said that itwill drop the badge â€Å"GM Daewoo,† dogged by negative publicity stemming from bankrupt South Korean automaker Daewoo Motor acquired by GM in the early 2000s. It will introduce the Chevrolet brand for all of its new products this year. The company name GM Daewoo Auto & Technology Co will also be replaced by GM Korea Company in the first quarter. Q 5. Why do you think GM acquired the company, while Ford did not? In November 2000, the Korean government officially announced Daewoo’s bankruptcy and its assets were put on sale. Amid controversies and almost a year of negotiations with the Korean government, GM signed a preliminaryagreement in September 2001 to buy Daewoo’s assets for $1.2 billion. Reason why ford did not acquired Daewoo Ford pulled out of its planned $7bn ( £5bn) takeover of Daewoo Motor, the struggling South Korean car maker, daysbefore a deal was due to be signed.Company said that it had not been possible to agree on proposals which were in the interest of both companies and its with drawal was â€Å"a business decision†.Ford, which has been conducting diligent inquiries, had sought to reduce its original $7bn bid to about $ 5bn to reflectdeterioration in Daewoo Motor’s assets.Daewoo’s creditors estimated in that the group’s motor business had liabilities of $16.4bn, against assets of $ 10bn and as because company feels that It’s a costly decision and at that time in 2000 Ford also suffering for its near bottom share prices. Q.6 What problems can GM-Daewoo expect in the future? GM General Motors like many multinational automobile manufactures has made the decision to excel in many researchand development operations Although the countries relatively new political stage, increasingly stable economy and improving infrastructure has presented unique opportunities for increased foreign direct investment conducting business for the, still presents a number of unique challenges.General Motors was not the first or the last automobile manufacture to enter into global automobile market presenting the unique challenge of overcoming the unique conditions of global business practices while still maintaining competitive advantage. Lowered tariffs for automanufactures has cause an influx of assembly operations from nearly all the major automobile manufactures However unlike its competitors, General Motors General Motors has learned how to carefully and effectively conduct business.General Motor’s success with its joint venture agreements and research developments has even led them to into putthem global perspective.