Tariffs International Trade and Tariff free essay sample

At that time, the principal function of tariffs is tax collection. By contrast, a country with weak economy and lying in a disadvantageous position tends to pursue policy protectionism. Under such circumstances, Tariff protection may become the most important or even major function to governments. So high tariffs will barrier the imported goods and hinder the development of international trade. Moreover, with the heavy government intervention in the economy, tariff has been endowed with the function of economic regulation. Thus, tariffs have become an important macroeconomic policy.It follows that countries tariff level will directly affect their interests in the foreign trade. The essay argues that the government tariffs have a significant impact on imported goods in terms of changing their quantity, in addition to providing benefits to the national economy such as protecting domestic products and adjusting economic growth rate. Despite the disadvantages of tariffs on damaging customers interests and increasing smuggling cases, it will have positive future trends. We will write a custom essay sample on Tariffs: International Trade and Tariff or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In the first place, one Of the most important impacts of tariffs is the influence on the quantity of imported goods.On the one hand, levying tariffs may reduce the quantity of imported goods (Huh Us, 2007). Zigzaggingnine and (2006) discover that a quota about tariffs on imported goods, a straight quantitative limitation on the amount of good units that can be imported during a specific time period, is the simplest and most direct form of tariffs. They assume that quotas are combined when utilization rates of imported commodity reach 90% and more, which follows that quotas control the quantity of imports. Moreover, their discovery seems accurate, for it is supported by a satisfying del (Links Race, 2002).It follows that the tariff will inhibit the flow of a certain product across the border as a tax on imports, and It will now cost more to move the product from the exporting country into an importing country. As a result, the supply of this product to the importing country market will fall inducing an increase in the price. Assuming that the product is homogeneous and the market is competitive, the price in importing country, both domestic producers and imports will rise in price. Therefore, the higher price will reduce import demand. On the contrary, reducing tariffs increases the imports quantity. A data from China shows that China reduced it tariff rates when china joined the World Trade Organization (WTFO) in December 2001, with repealing the non-tariff barriers (Nets) policy, and accelerating access of foreign capital into Chinas capital market. The aim of Nets is to restrict imports to protect the domestic market and the development of domestic industry to a certain extent. All these have facilitated the rapid development of Chinas participation in the international division of labor. Nominal tariff rates in 1 995 were 26% above those in 2004. Imports have increased 3. 9 times (Huh Us, 2007).Consequently, imposing tariffs on imports is as a means to limit the imports of goods to all countries. Regarding the impact of tariffs, Tariffs provide an array of benefits, especially to protect domestic products during price adjustment. Garbage (2003) claims that import tariffs ostensibly give local manufactures an advantage over overseas imports. There is a protective tariff, which is designed to insulate domestic producers from competition. It may help to improve Garbages theory that imported goods make them more expensive compared with similar products made by the nations domestic producers.For example, If tariff rate is a 20 percent for domestic ad valor and the imported product price is $200, the duty is $40. If the products price increases, say, to $300, the duty collected rises to $60; if the product price falls to $100, the duty drops to 520 (Garbage, 2003, Pl 08). Therefore, Moore and Morris (2012) further explain that a nation imposes tariffs on imported goods to make them costlier and to protect domestic producers and employees making those same products, if imported Pro duct A is more expensive than domestically produced Product AAA. Assuming that all other conditions are equal, they discover that consumers tend to choose Product Moreover, one of the most distinct advantages of tariffs is that governments can be benefited from adjusting the economic growth rate. Economists tend to regard tariffs on imports as an economic leverage to adjust the development of production and economy, and they discover that a number of high tariff countries are high growth countries (Lb, 2000; Wackier 2001 Firstly, Lee (201 1) argues that the growth rate is raised by a higher tariff.A higher import tariff on the consumer goods in the domestic country may boost (reduce) the long-run economic growth rate when the foreign (domestic) county has an absolute advantage in the investment good. The reason behind this may be explained as follows. If a domestic country imports the consumer products, a higher tariff on these products leads to higher domestic price and thereby the firms may reallocate resources to this sector. Hence, the supply rise of the consumption good in the world market lowers he international price of this good and then Foreigners firms reallocate resources to the investment sector (Lee, 201 1 , p. 61 Additionally, Silvia (201 1) has reconstructed historical data on tariffs and trade for 23 countries based on the relationship between tariff and trade growth to demonstrate that tariffs adjust the national economic activities through tax rate. For example, governments use tariffs as tools to balance supply and demand, for tariffs can change structure of imports and exports to settle market prices. However, the empirical analysis of the relationship between tariffs and economic growth has generated mixed results. Disagreement persists among economists on how a countrys tariffs policies affect its economic growth rate.There are several negatives of tariffs such as damaging interests of consumers and increasing smuggling cases. In the first place, tariffs increase the price of imports and reduce the price of export commodities. This makes consumer face challenge and consumers interests may be compromised by the increasing price caused by high tariffs. Tariff opponents argue that the costs of tariffs cannot be ignored. These costs imposed has increased cause of high tariffs imposed and consumers are forced to either buy fewer goods or spend more on these goods.The price increase can be considered as a reduction in consumer income (Wackier Welch, 2005). Meanwhile, this theory can be demonstrated that higher import prices mean higher prices for goods by using a practical example. Roadman (2007) assumes that the price of steel may be inflated due to tariffs, individual consumers pay more for products using steel, and businesses pay more for steel that they use to make goods. Overall, tariffs and trade barriers tend to be pro-producer and anti- nonuser. The other disadvantage is that higher tariffs may cause vast levels of smuggling if they are set at unreasonable levels.Same commodities, their prices are huge difference from at home and abroad due to high tariffs. Homes prices may be doubled or even more than double compared to Barbados. Therefore, it seems that the price difference makes smuggling become one of the most profitable business (Ghana, 2001 Furthermore, Cacao (2005) demonstrates that tariffs increase smuggling cases because high tariffs seriously distort price mechanism which causes market disorder. He covers that it is generally believed that smuggling is profitable if taxation rate are above 20%.For example, if the tariff on Product A is set at 95% (causes Product A in domestic is much costly than in other country) then it is likely that people will try to sneak Product A into the country illegally. As mentioned before, although all disadvantages that tariffs provide have one thing in common high tariffs, tariffs will have positive future trends in terms of tariff concession in developing countries (Docs) and tariff increase in developed countries. Primarily, Docs will appeal for tariff concession in the true, especially agric ultural products.One of the reasons is that many agricultural products are exported as primary commodities and higher taxes on processed products tend to increase demand for domestic and imported primary products. This shows that the importance of disaggregating primary products when analyzing agricultural trade liberalizing. Therefore, the DC would support a trade agreement of tariff cut (Gibson, Waning, Whither Bowman, 2001 In addition, Taming, Gillian and Philippe (2012) also argue that DC is a free trader in primary agricultural products.When substitutions in consumption and production are limited due to important Nets, it is shown that reducing domestic support while holding fixed tariffs decreases the Docs welfare. Under the tariff liberalizing scheme, however, welfare initially decreases, but it increases near the end of the process. There are many beneficial trade agreements, but Docs all advocate reductions in agricultural tariffs. Consequently, Tariff concession is likely the first-best policy of the world and the Docs perspective.With respect to developed countries, however, they tend to raise tariff rate ND tariff barriers compared to Docs (Gibson et al. , 2001). Researches claim that governments have used tariff protection and tariff barriers as tools to stimulate domestic demand because of the financial crisis. They also discover that the impact of crisis on developed countries is far more negative than Docs, for the main developed countries are suffering from recession and decline inning of their trade. Furthermore, Roadman (2007) uses examples to show that developed countries are now under tariff protection policy.He claims that Ignited States, European Union and Japan and other developed Mounties, their imports and exports growth rapidly drop below the world average level, while developing countries imports and exports remain steady. Therefore, due to structural differences between developed countries and developing countries in economic growth rate, developed countries are inclined to raise tariffs and build tariff barriers to protect their trade. In conclusion, tariffs have a significant impact on quantity of imports. The changes of tariffs rate directly refer to the floating of import quantity.Charging tariffs may reduce the quantity while decreasing tariffs may increase t. Therefore, the tariffs have been one of the core content of nations trade. It follows that countries tariff level will directly affect their interests of foreign trade. As a consequence, governments may benefit from tariffs by protecting the domestic industries and advancing the economic efficiency due to high tariffs. However, tariffs are not beneficial to everyone. High tariffs may have consumers interest damage and also increase the smuggling cases. Therefore, in the future, governments Of Docs may Pleasure tariffs concession policy to increase their national welfare. While some developed countries, they may continue to impose tariffs to stimulate domestic demand due to the financial crisis. However, globalization has become an irreversible trend compared with rapid growth of international trade, so tariff policies in different countries play significant roles not only in domestic economy, but in the international order as well. Therefore, the formulation of tariff policies which corresponds to their own benefits should be given the priority by their own governments.

It was the colossal vitality of Gatsbys illusion that ultimately destroyed him Essay Example

It was the colossal vitality of Gatsbys illusion that ultimately destroyed him Essay Example It was the colossal vitality of Gatsbys illusion that ultimately destroyed him Paper It was the colossal vitality of Gatsbys illusion that ultimately destroyed him Paper Essay Topic: Literature The Great Gatsby is a story about the corruption of the American dream. Jay Gatsby represents a man with unrealistic ambitions whose dreams are destroyed by the sheer weight and magnitude on which they illusion are founded. His inability to alter to his goals according to the reality of the situation leads to his downfall. James Gatz was born to shiftless and unsuccessful farm people, whom his imagination had never really accepted as his parents at all. He was a poor and disenchanted with his lowly status and hence, decided at a relatively young age, to leave home and seek out a life of wealth that he believed he was rightfully entitled to. After leaving home he became involved in a number of menial jobs that failed to meet his imagined expectations. The colossal vitality of his dreams haunted him in his bed each night as he struggled to understand why he could not reach out and simply manifest his dreams. His heart was a constant, turbulent riot as he fought with the illusions in his head. He created an escape in the form of Jay Gatsby, a platonic conception of himself, one through which he had the means of eluding his realities, an outlet for his imagination, a satisfactory hint of the unreality of reality. His life changed when he met Dan Cody, whose wealth, and in particular his yacht, represented all the beauty and glamour in the world. Gatsby rapidly identified with this new world and was prepared to do whatever was required to be part of it. It was from this moment that Gatsbys illusions took firm hold in his mind, propelling him ever forward into the vivacity of life. Gatsbys greatest illusion revolved around his childhood sweetheart, Daisy. She was the first nice girl Gatsby had ever known and she reciprocated his feelings. His first trip to her home left Gatsby in awe. Her beautiful house, her gay and radiant activities, her shining motor cars; these all increased her value in his eyes. Gatsby fell in love with Daisy and what she had (and represented at a societal level) only helped to intensify his feelings for her. When Gatsby was sent overseas during the war, he naively assumed that the Daisy he had left behind would be there for him upon his return. He believed that the love they shared would bond them forever and he formed an image of her that strengthened and magnified over the years of their separation. During his absence, however, Daisy had seen no reason to remain faithful to Gatsby; she had met and married Tom Buchannan and established a family in East Egg. When Gatsby returned from the war he was a hero, but had lost his love. Rather than re-assessing the relationship and acknowledging that their love had probably been doomed from the start given their different backgrounds, he set out to win her back by acquiring the same lifestyle and trappings that she enjoys. Gatsby bought a grand mansion in West Egg and re-created himself, complete with elaborate and intricate stories of his past; lies which captivated those around him. Gatsby wanted Daisy to see what he has become, to show her that he is worthy of her and also what she is missing out on. Through a meeting arranged by Nick, Daisys cousin, Gatsby was able to showcase his new life. Daisy was captivated by the immense beauty of all that Gatsby now owned and overwhelmed by his wealth and success. Daisy was impressed by Gatsbys lifestyle and possessions and he revalued everything in his house according to the measure of response it drew from her well-loved eyes. However, Nick noted that at the end of the afternoon there was the expression of bewilderment on Gatsbys face and that there must have been moments even that afternoon when Daisy had tumbled short of his dreams through no fault of her own, but because of the colossal vitality of his illusion. Once again, Gatsby did not pause and reflect on what has happened, he did not attempt to see the situation as it was and realise that Daisy could not be part of his life. As Nick commented, No amount of fire or freshness can challenge what a man can store up in his ghostly heart. The other great illusion was his belief in the American Dream. He believed that someone from humble beginnings could acquire wealth and with that they would be accepted into the upper echelons of society. Moreover, he believed that happiness depended on being materially well off and part of the elite. Gatsby started off as an unskilled worker but he was later prepared to do what it took to acquire wealth, even if this meant dishonest dealings. His association with (jew) provided him with the possibility to fund his dreams. He developed the mentality that the end justified the means, as his growing ambition impaired his judgement. His desire to be wealthy and able to attract and impress Daisy clouded any notion of the need for honest, hard work to achieve these objectives. Gatsby believed that once he was rich, the rest of his dream would fall into place, including being an accepted member of the upper classes. However, the aristocratic families of East Egg held him in some sort of contempt. Even though Gatsby seemed to have as much money as they did, he lacked their sense of social nuance and easy, aristocratic grace. The members of the establishment, as typified by Tom Buchannan, mocked and despised him for being new money; someone was still not able to buy into the exclusive area of East Egg. The elite they took advantage of his generosity and behaved rudely towards him yet he took no offence nor challenged them about their behaviour. Gatsby so wanted to be part of their set and was caught up in this illusion that he did not see people for what they were or question their motives. He did not see that they were people who used others and discarded them at their leisure. His failure to recognise this (and the unreal nature of his dream) ultimately cost him his life. Driven by the desire to escape his lowly beginnings and the misguided belief that Daisy Buchanan had loved him and that money (and extravagance) was what was required to recapture her, Jay Gatsby pursued the American dream. In the process, he acquired great wealth, re-invented himself and adopted the lifestyle of the rich and famous. The dream, however, became an obsession of gigantic proportions that clouded his judgment and destroyed his grip on reality. Wealth (and the pursuit of Daisy) did not bring him love, happiness and status but instead lead him down a path where his failure to see people and situations clearly (and re-evaluate his goals), led to his death. His grand dream was ultimately an illusion.

6th Grade Science Fair Projects

6th Grade Science Fair Projects Ideas for 6th-grade science fair projects can be a challenge to conceive. Projects need to be sophisticated and elaborate enough to show complex thinking but not so complex that they would be impossible for a sixth-grader to execute. These are topics and experiments suitable for upper-grade school or entry-level middle school. General Project Ideas The ideas in this section and the following one are phrased as questions because that is generally how schools require sixth-grade students to announce their projects, as a question, or hypothesis, to be tested and answered. What types of fruits or vegetables are suitable for making a battery?Which apps run down a cell phone battery most quickly or use up a lot of data. This is a good project for making attractive graphs.How much paper is required to register for school? Can you propose a way to streamline the process to make it more environmentally friendly? Would this process save time or money?What exactly does a vacuum cleaner pick up? Use a magnifying glass or microscope to look at the contents of a bag or canister. What types of material are not picked up?Does coloring carbonated water change how its taste is perceived?How long does it take for milk to go bad refrigerated and unrefrigerated? What about juice?Do all crayons have the same melting points? Why or why not?Do different types of carbonated sodas have different pH? Do you think this can affect tooth decay?What types of fruits, vegetables, and flowers can be used to make a pH indicator? Make some indicator solution, write up a protocol, and test home chemicals to explore the color range of your solution. Can you tell different brands of soda pop apart based on taste?Do some plants grow better inside than outside? More Complex Projects The projects in this section tend to be slightly more complex than those suggested in the previous section. They are still appropriate for sixth-grade science fair projects but may take more steps and/or time to execute. What type of air freshener makes a school bus smell best to the greatest number of students?Which type of water contains the lowest amount of chlorine?What type of insulation holds in heat the best?Do different types of knots affect the breaking strength of a rope?Does wiping a doorknob with an antibacterial wipe really reduce the numbers of bacteria? Does using hand sanitizer really reduce the amount of bacteria on your hands?How do different flame retardants affect the flammability and burning rate of cotton?Which cooking method results in the least loss of vitamin C?Does temperature affect the maximum size you can inflate a balloon?Does the color of a crayon affect how long of a line it will write?Does changing the temperature affect how long a pen will last?Do all types of bread mold at the same rate? Tips and Hints By the sixth grade, students should have a good understanding of the steps of the scientific method. The best science fair project ideas will be ones with a hypothesis that is tested by an experiment. Then, the student decides whether to accept or reject the hypothesis and draws a conclusion. This is also a good grade level for presenting data in graphs and charts. Parents and teachers need to understand that sixth-graders still need help with ideas, especially finding ideas that use materials that are readily available and that can be completed within the allotted time frame. One way to come up with a good idea is to look around the house and find topics a sixth-grader may have questions about. Brainstorm these questions and find ones that can be written as a testable hypothesis.

What are the principal barriers to secondary analysis of qualitative Essay

What are the principal barriers to secondary analysis of qualitative data Why should researchers pursue this approach - Essay Example This type of analysis can either be qualitative or quantitative, and aims at dealing with new study questions by investigating previously collected data. This discussion is focused on secondary analysis of qualitative data. There is no difference in definition to secondary analysis of data, except for the difference between qualitative and quantitative data involved. In the case of secondary analysis of qualitative data, the existing data use is qualitative rather than quantitative. Qualitative data is all about behaviour and attitudes which cannot be quantified. Quantitative data however, focuses on numerical data. Analysis involves large sets of data that are used to make predictions or generalizations3. Secondary analysis brings in a new body of knowledge. Mostly, secondary analyses have been carried out in cases where authors want to: Perform additional analysis to a subset of the original dataset, Perform additional analysis to the original dataset, Pursue distinct interests fro m the original analysis, Provide case material for teaching and methodological development, Apply a new conceptual focus or new perspective to the original research issues, and Describe the historical and contemporary attributes, and behaviour of groups, individuals, organizations or societies. Secondary analysis is also important in situations where the participants are difficult to access, especially in sensitive topics4. Secondary analysis for qualitative data focuses on qualitative research. An example could be, a research focusing on the attitudes of footballers towards the media. An analysis of these attitudes can be done on a primary level. A secondary analysis may have a different target, for example, it would say, the attitudes reveal the footballers’ real emotions, and use the primary data from the original research to prove the point. These secondary analyses to qualitative data have barriers and benefits. These are as discussed below. Barriers to Secondary Analysi s of Qualitative Data There is lack of familiarity with the data. When collecting primary data, the aim of the research guides the arrangement of such data, so that familiarity, with its structure and various features is not an issue. When conducting a secondary analysis however, a researcher has to take time finding out why certain qualitative data is coded as they are in the primary dataset. This means that the researcher will need a lot of time to decode the primary dataset, and in some cases, to understand the complexity of the dataset’s organization. If the qualitative dataset is found to be complex, it may discourage a secondary analysis. Complexity of a dataset and time taken to familiarize with specific variables in a qualitative dataset, are some of the barriers to such analyses5. Another barrier is the primary researchers’ legal and ethical obligation to keep such data confidential. Qualitative data may be characterised by the content of sensitive or private information. This is especially true about data obtained from interviews in which the interviewees entrust the primary researcher with sensitive or private information about them or their lives. The primary researcher has the obligation to protect the information, and maintain confidentiality as agreed upon before data collection. The main problem in secondary analysis is approaching such kind of researchers to analyse their data a second time. It could be an example of an ethical dilemma. The original researcher may want to share his or her data, but the confidential information that will be accessed by the secondary analysts may lead to a breach of contract between the primary resea

Analyze Assignment Example | Topics and Well Written Essays - 500 words

Analyze - Assignment Example In this case, Greece would have to suffer because of the ideological misconception fostered by the Economic and Monetary Union. This is the belief that possession of hard money can drive smaller economies to grow and march other developed economies. This revelation would influence Greece to opt out of the Economic and Monetary Union. Consequently other smaller European nations not wanting to suffer under similar programs would opt out of the Union too leading to instability (Sēmitēs, Stiakaki, & Munro, 2014). On the other hand, if Greece were to fail to take the austerity measures and firmly hold against repayment, the countries credit rating would further plunge downwards. Sanctions against it by bodies such as the World Bank, The International Monetary Fund and the European Union would have drastically impacted on its economic prospects. Such political sanction intended to pressurize Greece into meeting its obligations of loan repayments would grossly affect its trade relations with other European nations. The country would neither be in a position to trade with its European neighbors nor borrow fund to meet its budget deficits. There would increase tension in Europe as other countries like Italy who are equally burdened by heavy debts would dread the possibility of undergoing similar troubles. Instability in the European economy would be eminent as other countries equally burdened with debts would be anticipated to follow in Greece’s footsteps. The eminent exit of Greece from the euro would be catastrophic. The Greek economy would be returned and stagnated. The countrywould have get back to production of its old currency and set up its own central bank. The European Central Bank would be left holding an enormous Greek debt with limited options. The devaluation of the euro which would result from such a scenario would consequently results

How Dangerous are Trade Disputes Between the EU and the US for Transatlantic Relations? :: Trading European Union United States Essays

How Dangerous are Trade Disputes Between the EU and the US for Transatlantic Relations? INTRODUCTION The United States of America and the 15 countries that comprise the European Union are the two largest economies in the world, and possess the world’s biggest bilateral trading and investment relationship. The enormous impact of trade relations between the two continents creates thousands of jobs and wealth on both sides of the Atlantic. These transatlantic flows of trade and investment amount to around $1 billion a day, and jointly, the global trade accounts for almost 40 % of world trade . These staggering figures indicate the incredible synergies that can result from cooperative agreements between countries, but are not always free from the perilous touch of political and national interests. Every relationship has its own pitfalls and troubles, and if not kept in check the trade disagreements that arise between these powerful entities can pose a dangerous threat to the entire relationship. Unfortunately, the disagreements that result can become so heated that a complete trade shutdown of certain items occurs. One such example is the EU/US beef trade dispute. As Michael Paulson of the Seattle Post-Intelligencer notes, as much as 90 % of US beef is produced with the aid of growth hormones and is shipped to 138 countries . The dispute is now in its 14th year after several interesting milestones in the dispute’s history. The Office of the US Trade Representative identifies several important milestones in the case beginning in 1985, when the EU restricted use of hormones to therapeutic purposes only. This was followed by a complete ban in 1989 on meat from animals treated with six growth hormones, effectively ending virtually all importation of American and Canadian beef. In 1996 the US and Canada consulted the World Trade Organization (WTO) about the ban, with the WTO ruling in 1997 that the EU’s beef ban was not based on scientific evidence . Researchers at Kansas State University have verified the WTO’s stand that there is no merit to claims hormone-fed beef is not safe to eat, as long as the hormones are used with generally accepted veterinary principles. American beef producers claim that European producers support the ban because it stifles competition, giving them a competitive edge in their own backyard through trade protectionism. They complain that French farmers are some of the most heavily subsidized in the world, giving them an unfair trade advantage.

Caterpillar and Komatsu: A Mission Statement Evaluation Essay

Caterpillar and Komatsu are two of the largest heavy equipment manufacturers in the world with total revenue of over $29.1 billion dollars for fiscal year 2001 between the two companies. Caterpillar was established in 1925 after Benjamin Holt and Daniel Best merged their two companies, both of which had been in business for over 35 years each. Komatsu was founded in 1921 when Komatsu Iron Works was spun off as an independent corporation from Takeuchi Mining Industry, Ltd. Both companies, Caterpillar and Komatsu, have since established themselves in the market as leaders of heavy equipment manufacturing. A review of the websites and mission statements for each company speaks volumes about the company and their philosophy towards doing business. Each mission statement was evaluated for the following components as per the UniModule for the course: Customers, Products or services, Markets, Technology, Concern for survival, growth and profitability, Philosophy, Self-concept, Concern for public image and Concern for employees. Additionally, each mission statement, as well as the company web site and company reports, was reviewed to determine how the priorities of the stockholders were addressed. Caterpillar Caterpillar has both a vision and a mission to drive their company. The vision is basically stated, â€Å"Be the global leader in customer value† (Caterpillar). This basic statement drives the four different aspects of the mission and the company as a whole. The vision also shows a strong concern for survival and growth with a forward-looking vision to the future. In addition, a basic vision such as this also drives the philosophy of the company as they strive to be the best in their market. The first section of the mission statement is as follows: Caterpillar will be the leader in providing the best value in machines,  engines and support services for customers dedicated to building the world’s infrastructure and developing and transporting its resources. We provide the best value to customers. (italics as included in statement) (Caterpillar) As this section states, Caterpillar believes in supporting the customer through all aspects of its operations. This section also addresses Caterpillar’s philosophy in their products and services by providing the best value to their customers. The second section of the mission statement states: Caterpillar people will increase shareholder value by aggressively pursuing growth and profit opportunities that leverage our engineering, manufacturing, distribution, information management and financial services expertise. We grow profitably. (italics as included in statement) (Caterpillar) This section addresses Caterpillar’s concern for shareholder value by directly addressing their goals to increase value as part of the statement, and not as an afterthought. The simple line, â€Å"We grow profitably† shows a strong faith in their future as a company. The third section read: Caterpillar will provide its worldwide workforce with an environment that stimulates diversity, innovation, teamwork, continuous learning and improvement and rewards individual performance. We develop and reward people. (italics as included in statement) (Caterpillar) A strong concern for the employees is shown in this section of the mission statement. According to the Caterpillar website, the company offers extensive training and employee development, as well as a multitude of benefits for their employees. The final section of the mission statement is as follows: Caterpillar is dedicated to improving the quality of life while sustaining the quality of our earth. We encourage social responsibility. (italics as included in statement) (Caterpillar) Finally, Caterpillar addresses their concern for the public image of the company by addressing environmental and social issues in their mission statement. Caterpillar is involved in several environmental and social projects in the communities that they are a part of, whether in the United States or around the world. Overall, the vision and mission statement for Caterpillar is strong and clear, providing a valuable direction for the company in all aspects of their operation. Komatsu Komatsu has established a basic mission statement as well as a Code of Worldwide Business Conduct (Code) booklet that helps to guide the company in its global business dealings. This Code is updated annually to reflect any new or changed information that may affect how the company performs on a global level. The mission statement, which is actually an opening statement by the president of the company, Masahiro Sakane, reads as follows: Komatsu is committed to Quality and Reliability as the very cornerstones of its management to maximize its corporate value. Through business activities, we at Komatsu work to enhance the corporate value of Komatsu for shareholders and all other stakeholders by promoting activities to become a Strong Company, while simultaneously observing the â€Å"Rules of the Business Community (the Rules)† and fulfilling the responsibility of corporate citizenship to become a Good Company. In this manner, I believe that we can improve the Quality and Reliability of management and employees. (Komatsu) By breaking down the opening statement, as well as the pertinent sections of the Code, we can evaluate the company’s means for addressing the different  requirements from the UniModule. A driving force behind the Code is the strong commitment to quality and reliability for their products. This is addressed in the management direction section of the code, which provides five guidelines for enhancing quality and reliability. The first guideline directly addresses the customers’ needs and concerns, as well as the product and/or services themselves, by â€Å"constantly providing safe and innovative products/service and systems from the viewpoint of our customers.† (Komatsu) Additionally, product safety is mentioned as one of the main aspects for quality and reliability. According to Komatsu, â€Å"all employees place the highest priority for assurance of safety when engaging in development, production, procurement, sales, service and all other stages.† (Komatsu) References Caterpillar Company Information. Mission. Caterpillar. Retrieved on June 20, 2002 from the World Wide Web: http://www.cat.com/about_cat/company_information/03_mission/mission.html Komatsu Code of Business Conduct. Komatsu, Inc. Retrieved June 20, 2002 from the World Wide Web: http://www.komatsu.com/profile/index.html