Forex can also be termed as "the wonder market" so for anyone without any information on Forex can get the information about it at social gatherings and newspaper headlines since it is the current hot issue in the town.

Concept

When it comes to liquid and market trading and exchange of currencies, the Forex is the best business to invest on. Other markets like the stock market and future markets have been replaced by the arrival of Forex that has come a very long way to existence today. With the improved technology and world globalization, Forex has become the force behind the global economy.

Working

The Forex is an electronic market amassment of various banks that operates throughout the day to trade on cash market. Forex operates in a way that you can buy a bargain to acquire an appropriate legal tender at a future price in time.

The numbers of participants that are associated with the market are currency speculators, large banks, financial markets, institutions, and multinational corporations. Competition in Forex is high because the prices are not fixed like in the stock market and the firms compete in pricing to stay in business. The trading involves the exchange of currency from one country to another.

Growth and application

Of late, foreign exchange markets have gained a lot of popularity around the world. Statistics have shown that the Forex puts in about three point nine eight trillion dollars each day. The period beginning April 2005 to April 2006, registered a thirty-eight per cent increase in Forex trading which is above two times that of the year two thousand and one.

The factors that have greatly influenced the steady Forex growth include market shares, liquidity and political climate. Sources from Europe stock exchange discloses that seven percent of the total revenue collection comes from foreign exchange market.

Foreign exchange is coming up as a strong tool in the world money market as it suits the needs of modern complex innovations, fancy lifestyles, increasing human needs, advanced international ties and the advancing niche of man.

Every Starbucks© patron knows that Starbucks© has a quality roasted bean selection in every flavor that a coffee drinker may like and uses a significant portion of their investment budget as well a portion of their profits to develop third world countries yielding cocoa beans. Between mild, smooth, dark and medium roasts, Starbucks© brews up a selection of over twenty-five unique blends for the enjoyment of patrons with a wide variety of tastes. Breakfast Blend, French Roast, Shade Grown, and the ever classic House Blend encompass only a fraction of the entire coffee profile available at Starbucks.

Credited to the Indian, African, South American and Philippine soils, proceeds from any of the roasts available for you to enjoy go back to the cultures that they were harvested from: Starbucks has among the most efficient Fair Trade programs in the corporate world allowing the highest sold American coffee prices to be directly applied to the cost of the foreign grown coffee. In addition to this, Starbucks offers their employees opportunities to study coffee production abroad in many of the countries that house coffee bean production facilities. Given the long-lasting name, the plethora of tasty blends and a reinvestment program that directly benefits the countries doing the majority of the hard labor for coffee production, this company is a winner in the long haul all around the globe.

On the second one, Start up Shutdown, Start up companies today receive less funding than the previous years. Investors are already scared of taking risks and start up companies stop looking for other funds when they reach the first step. This may be due to some factors like the economy today, which is not doing good, the war between Iraq and U.S., political stability and terrorist issues. Investors today are more careful, expect more returns and more of the security wise.

The article says that there are a lot of patents pending in Japan Europe rather than the U.S. This may be because the rules of patenting in Japan and Europe are not the same as in the States. I have read in one of the articles that Programs are definitely protected by copyrights. However, there is no basis for protecting the ideas and algorithms by copyrights; patents can only protect these. In the US and Japan the numbers of software patents, which protect software ideas and methods, are now increasing rapidly. Japanese lag behind the US and EC in terms of holding basic patents, and this has been a major reason for the frequent payment by Japanese companies of settlements and damages stemming from patent disputes.

Early adopters of e-commerce spent a lot of money trying to draw online shoppers through their virtual doors. Many were able to generate traffic. Some even generated revenue. But nowadays, only a handful attracted the popular repeat customers that mark a successful e-business. This may be because money is more secure with the catalog - based companies rather than giving out your credit card numbers online. There are more and more hackers growing everyday therefore, there are more and more credit cards being hacked everyday. Web-based companies should create programs to secure their sites from hackers.

All manufacturing of the components used in making Miele vacuums is done in Germany, which allows for the company to control quality to a higher degree. In a more conventional vacuum company, all the major components would probably be bought from a different Chinese company, and the assembly would be done in China also. Because this way of building a vacuum lets the quality control out of the company's hands, Miele chooses to do almost all the work in Germany, where the company originated. The production of a Miele vacuum begins at the main Miele factory in Gütersloh, where the electronics are made,  The electric motor is produced in Euskirchen, and the main components are made in Bielefeld, which is also where the vacuums are developed. The plastics and spare parts are manufactured in Warendorf, and finally everything is shipped to the Hong Da factory in China where the pieces are assembled. Only the assembly of the product, just one piece of the process, is completed outside of Germany. Miele also manufactures its own factory equipment in Germany, meaning the manufacturing itself will be more reliable and produce better results. Miele even has a management system that is “continuously monitored by Miele auditors within the context of fixed assessment programs.” This kind of monitoring would be difficult to accomplish in China, where laws make control over production from afar very hard, if not impossible. This level of control is especially important when producing the electric motors, which are essential to almost all of Miele's appliances. Miele needs electric motors that it can depend on, and the only way for the company to achieve that is to make the motors themselves. For this very reason, “Rather than outsource to low-cost suppliers, it makes 4 million electric motors a year (enough for all its products) in its own plant near Cologne.” Because Miele keeps its production in Germany, it can have much more control over manufacturing, and this makes the products more reliable and of higher quality in the end.

For Miele to stay ahead of other companies' innovations and still keep the quality high, it devotes even more money and facilities to product development than competing companies. When other companies offshore labor overseas, they do it mostly because it allows for the innovation of new technologies and products to occur at home. This system makes the products innovative and new, but not of high quality. Miele is all about quality, but to compete in the market it must also be innovative. To make up for the decrease in attention towards innovation, Miele does two things: first, it devotes over 12% of its earnings to innovation alone. This is much more than any other company allows for innovation, and it is part of the reason Miele products are 50-70% more expensive than competing products. Miele also divides its product development between the three different factories, in which those products are produced. This allows for a tight-knit connection between innovation and production, one that could not have existed if the innovation and production were being done on two different sides of the world. These two efforts promote innovation in Miele products, so they are not left behind while competitors set their focus mainly on innovation.

Along with keeping their products high-quality and innovative, Miele also builds them to last, and tests them to makes sure they will last. With high-quality products like Miele's come the need for longevity. Miele incorporates longevity into each of its products, and certifies that each will last for 20 years or more. This certification is the promise that Miele has made the product with care, and the techniques used reflect the highest quality in the industry. Miele makes sure that their products are trustworthy by putting them through heavy testing. The ovens are tested “using machines that open and shut their doors 60,000 times to simulate the rigours they will withstand in their owners' kitchens.” A personal account of a Miele vacuum also shows that the quality difference is notable, and that the vacuum lasts: “That the Miele stands up to this heavy use and abuse day in and day out is a tribute in itself.” The made-to-last approach that is put into making the vacuums pays off in customer satisfaction. Miele also incorporates longevity into their products in a different way: by keeping them up-to-date. Miele has a patented technology called the Electronic Update system, which allows for the technology installed to be updated years after it is purchased. This technology is very unusual in today's world: most companies want customers to purchase new products instead of updating old ones. The Electronic Update system is the finishing touch to Miele's promise of longevity: the company makes sure that your product will stay together and up-to-date for years to come.

As the downside of not offshoring all labor, Miele vacuums are much more expensive to produce and much more expensive to buy. Other companies offshore the labor because it really saves money. For example, an average laptop made in China costs $700 to buy, but only $15 to manufacture.The price difference is based mostly on the fact that the labor isn't of high quality, but it still is an enormous price difference. The Portable Canister Cleaner from Hoover sells for only $79.99, so a probable manufacturing price could be about $10. The price Miele pays for not exporting cheap labor is monetarily high: a Miele Mango Red S514 vacuum sells for $659, and that price nearly reflects the cost of the manufacturing. These increased production prices do more than just raise the price of the product: it can make the company unsustainable. A senior executive from a rival company said, “In my view, to survive they will have to face the music and move more of their production out of Germany, while making parts such as motors in their own factories is just not viable.” Miele disagrees, saying that they can stay the way they are, but already the company has had to remove every tenth employee from their Germany factories to save production costs. The hardships that come with not offshoring to achieve high quality products definitely affects the company in a negative way.

Since the company began, Miele appliances have been consistently innovative, long-lasting and of high quality, so much that consumers have developed enormous trust in the company, and are willing to pay 50-70% more for the appliances. Consumers know that, “If quality, period of use and price are taken as a whole, then Miele machines are superb value for money. Miele appliances are quite literally worth the money.” That is why consumers keep coming back to Miele, even though they pay a premium. This is very different from how other companies attract customers: they offshore manufacturing and focus on innovation. For other companies, everything is about new and exciting products that sell for less and less money. Miele's customer base is partially made of new buyers who want a break from bad vacuums, but the majority of customers are people who know the value of a Miele appliance and trust that the value will stay the same. The same customer mentioned above says, “ I would not hesitate to buy another Miele if this one were to someday die beyond my ability to fix it.” Reader's Digest even said that Miele is the “most trusted domestic appliance brand in Europe.” Miele has won that award each of the six times Reader's Digest has conducted the survey. Because Miele has been so dependable, customers trust it much more than a conventional brand, and that is how Miele sells products.

All in all, Miele's strategy of keeping manufacturing close to home and designing products that are innovative and built to last results in consumers that have confidence in the quality of the products. This offsets the economic disadvantages of producing products domestically. Miele's company model is very different from the one used by most companies, but it works. It's a different kind of globalization: one based around quality, not price. As described by a Miele owner, “The Miele canister vacuum cleaner is similar in many ways to a fine imported sports car. It is expensive, it has superb German engineering, and sleek, sexy good looks, and when it works, it works extremely well.” This comparison is accurate, and that is why people buy expensive Miele vacuums. Like a fine Porsche, customers with enough money will buy a Miele product because they have trust in the brand, and they are well aware that the vacuum is made with the finest components. The shining reputation that Miele has acquired makes up for the hefty price tag that comes with the product. Miele understands the global corporate economy, and takes advantage of it. They effectively compete in the international market with their unique development, manufacturing, and marketing strategy of producing excellent, high quality products that are incomparable to any other.

When we opened up international trading, a variety of things can happened. Suddenly the highly unionized workforces of our factories and other industrial enterprises (that, before, were sheltered by tariffs, embargoes, and the lack of organized mass shipping availability for quite some time after the industrial age) became uncompetitive in comparison with the more efficient working forces of the east. Corporation executives were more than happy to build factories in countries where the people would work for 30 cents an hour rather than deal with the spoiled American workers who came to expect exuberant wages because of years of organized protests and union battles. Factories were uprooted from many key areas where they once provided for the economic well-being of thousands of American families, causing workers who were skilled in factory labor to suddenly have to seek a new occupation.

As if this were not bad enough, the corporations who outsourced the factories began importing the products they manufactured through foreign labor. The corporations began marketing the products at extremely low prices (which were far cheaper than prices of the products being manufactured by the unionized American factories). The corporations sold the products to the very people who lost their jobs when the American factories closed. It was by appealing to the financially vulnerable position of the thousands of ex-factory-workers, that the corporations were able to successfully corner, both the consumption and production ends of the market at simultaneously. All of this created an extremely competitive economic force that put considerable strain on the remaining American straggler factories that still offered union wages. The retail businesses that did not buy from the corporations suffered because people would rather buy from the stores who sold the cheap foreign products at cheap prices. A system of dynamics encouraging the survival of the most globally-economically-fit emerged; all other economic entities suffered.

The retailers, and other close-to-home commercial-end businesses had to adapt to the newly introduced “global dimension” of the economy in order to survive; the only way for them to do this was to begin buying from the foreign factories. The foreign corporations could afford to produce the items at a fraction of the price American factories were required to charge in order to pay for the materials and labor and still make a profit. The American public, who were affected by the closing of the factories, could resist purchasing the extremely cheap items from the retail stores, seeing the inexpensive items as an answer to their plight…little do they know that they were becoming the sole instruments in orchestrating the fall of the American economy.

Here is the point where we scope down where we can view the effects of these things upon the personal lives of American citizens: morally, economically, socially, and emotionally. Money, as we are coming to understand increasingly as the economy falls, is what governs the lives of everyone in this era. The presence of money or the lack thereof is the main factor that pre-selects one man for success and another for failure. From all that we have described about the opening of mass trade in the global economy, we see that the American poverty level is rising rapidly (as more money goes out and more cheaply manufactured items come in). When the poverty level rises, once-honest people could be coerced into finding dishonest means for survival, since the city area that once depended upon the factory for its income can no longer support all of its residents, who do not cease requiring resources themselves. The area becomes a ghetto after the factory vanishes; a ghetto where the only type of trade that flourishes is the illegal kind. The surrounding cities whose residents were employed by the factories now suffer, as they have thousands of newfound dead weight to support. Other businesses suffer since people can no longer afford to patronize them as often. Since people can no longer afford as high taxes, the cities must cut down on some of their features in order to accommodate the bare cost of running; this would include such municipalities as quality in education, police and fire department staffing, and recreational apparatuses (sort of like how the organs within a starving animal begin to shut down in order to conserve initial life of the body).

In the face of a rising crime rate, the city can afford increasingly fewer and fewer police officers; this would cause the officers available to have to choose, which crimes hold a higher response priority than others, allowing the lesser crimes to go relatively unchecked. The housing value in the affected areas decline, and as people move away from the affected area, they flood the job market in other areas, causing the area of adverse economic influence to increase its radius…somewhat like a ripple in a pool. Beyond all of this, the American family must change its dynamics, in order to adapt to the new conditions of the falling economy. Parents in working class to middle class families may need to acquire a second or even third job in order to maintain the same quality of lifestyle they were used to before the economic decline; this would cause the children of said family to have less supervision and parental interaction. Children may become more susceptible to adverse influences in the absence of adequate parental supervision; this might cause them to be more likely to fall into peer pressure, which might ultimately lead to them being more likely to make poor decisions regarding drugs, alcohol, and other vehicles of delinquency.

Parents of low to middle-income families might be less patient and not as emotionally responsive to the needs of their children if they are sleep deprived from working multiple jobs. Their stress level could adversely affect their usually good parenting abilities. People, who were just barely straddling the poverty line before, might now find themselves plummeting far enough below it to require the aid of such governmental programs as EBT Bridge cards, and welfare in order to escape losing their home or assets. In the presence of a high-stress working life, certain people might become more prone to substance abuse in order to cope with their problems. Lastly, the increasing price of the educational system causes combined with the declining individual’s financial ability would hinder people of certain positions in the economic stratification system from rising out of poverty.

There is one solution that has the potential to solve all of the above stated economic problems in America; that is to instate a governmental agency whose sole purpose is to review the average cost it takes an American factory full of unionized laborers to create product X. The agency would then determine the amount of money it takes on an average to create the same product X overseas. After this, the agency would subtract the latter amount from the former amount and impose a tariff on all these imported products that is equal to the difference of the two amounts. This would, when put into effect, level the economic playing field, and make it unprofitable for companies to import the inexpensive foreign-made goods; it would suddenly become unprofitable for giant corporations to utilize the cheap foreign work force, since they would still have to pay a phenomenal tariff on each product, they import into the States (the tariff could go into a fund that could provide for free college education of passionate students, and possibly even free government provided medical).

American business would once again be competitive in its own arena. It might then be possible to see a reverse in virtually every part of adverse societal development. People could afford to live and enjoy life again rather than being locked into the mechanical monster that is the current American economy and the poverty level would fall to a new and unprecedented low. The unemployment rate would be minuscule, if existent at all. This of course would take some transitional steps to accomplish, but by realizing, we need to control the flow of national economics out into the global economy, and in doing so…the ideal American dream could become the American reality.

Opinions about whether the U.S. is in recession are all over the board. Why is there no clear answer?

What should you do with your investments?

Financial trade publications disagree. "Buy global funds! Buy foreign funds! (Is there a difference?) Buy U.S. funds! Buy Euros! Buy commodities!" Ugh.

What is a Recession?

A recession is defined by most people as "two consecutive quarters of negative Gross Domestic Product growth." In English, that means that the U.S. economy is shrinking, not growing, for at least six consecutive months. The last quarter for which data are available says that the economy grew .6% in the fourth quarter (ended December) 2007. So, if there is a recession, the earliest it could have started in January, 2008. We'll get preliminary figures for the first quarter 2008 in about a month. Preliminary figures can, and do, change.

Are We in Recession?

According to the Philadelphia branch of the Federal Reserve Bank, growth in the first quarter of 2008 was projected at .7%, with the probability of a downturn at 47%. Growth in the second quarter of 2008 is projected at 2.3%, with the probability of a downturn at 43%. So, very small growth is projected, with a probability of less than 50% of an actual contraction.

Any way you look at it, growth is projected to be less than normal at best, and recessionary at worse, in the first half of 2008. Nobody - not the Fed, not the President, not Congress, not Warren Buffett - nobody will know for sure whether there has been a recession until second quarter 2008 preliminary figures are promulgated next July.
And by then, it may be over.

How Do Markets Work During Recessions?

 

The stock market is a discounting mechanism. That means that it looks about six months into the future and prices accordingly. That said, if growth (at 2.8% according to the Philly Fed) is predicted for the second half of the year, the correction should be about over, and it may be time to start taking a look at investing some of your portfolio now.

Are You a Stock Market Investor?

 You may be a candidate for stock market investing IF

• Your investment goal is at least five years away; and
• Your tolerance for risk is appropriate (you can absorb a 20% correction, or decrease in value, without selling); and
• You have adopted a selling strategy (you know why you're buying and the conditions that would cause you to sell).

Currently, an investment in the Standard & Poor's (S&P) 500 will cost you about 13.60 times projected earnings. That means, for every dollar of projected earnings over the next year, you'll pay about $13.60.

 

Is that a good price?

Well, according to S&P, the "benchmark " price for this index is 15.74. At 13.60, the price you'd pay now is about 14% less than its long term average price of 15.74.

What to Buy?

Lots of pundits are suggesting putting money in "Emerging Markets," which include behemoths India and China - places where growth is in double digits and climbing. The price of these markets, however, is sky high, and the price you pay is in dollars, which has generally fallen in purchasing power compared with other currencies. And, most importantly, would you know when it's time to sell?

The safest bet, according to many, is the U.S. market. Some pundits further suggest investing in U.S. companies that earn a significant portion of their earnings overseas. Those are called global stocks. (Foreign stocks are those companies headquartered outside the U.S.)

By and large, the safest way to invest in the U.S. is to buy an index, or group of stocks. There are many indices - the Dow Jones Industrials, the S&P 500, the Russell 2000, the Wilshire 5000 - 30, 500, 2000, and 5000 companies, respectively. As a general rule, the more diversified you are, the less volatile your investment, as compared to the market as a whole. The index of choice for many investors looking for companies with significant overseas sales is the S&P 500.

Some investment theorists believe that, over the long term, very, very, few investors beat the returns of the market as a whole, so it's best to invest in an index fund. Index funds have the additional benefit of having low management fees, which leaves more of the return in your portfolio.

 

When to Buy?

Because no one knows if there is a recession, or when it will end (if there is one), exactly when the market has discounted the bottom of the cycle is tricky. Assuming we rely on the Philly Fed's number, the third and fourth quarter are projected to grow at 2.8%. If you agree that the market discounts about six months in the future, it's time to start looking now.

Some leading technical analysts (those who use past market behavior, not fundamental analysis, to predict the future) think that the S&P 500 will "retest its low (1256.98 - a 20% drop from its high of 1576.09)," but nobody knows for sure. It's currently at 1332.83 - 5.7% above its 52 week low.

Instead of trying to predict a "bottom," many smart investors "dollar cost average," or put money into the market every paycheck, month or quarter. This may be a good time to start doing that.

Of all the economic indicators I follow (and I follow twenty-one), the one I feel is most predictive of when the market is a ‘buy,' is "Sentiment. " Sentiment measures the consensus of "bullish" (market up) and "bearish" (market down) opinion. It is, however, a negative corollary, i.e., the more bearish the opinion, the better the indicator, or when most people are negative, that's a positive (and vice versa).
Bullish sentiment is as low as it's been since I've followed this indicator in 1995. That's good.

 

How Much to Buy?

There are lots of formulas for how to diversify your portfolio, but one of the simplest, and most reliable, is to subtract your age from 100. Put that percentage of your long term (over five years) investment in stocks, and the rest in money market funds, short term bonds or certificates of deposit.

 

How to Buy?

If you decide, for example, to put the stock portion of your investments into an index fund, Vanguard (www.Vanguard.com) provides a low cost way to do so. And averaging your investments over the next six months may be the safest way to go.
To get started with the bond investments, Barron's (www.Barrons.com) gives Top Savings Deposit Yields in its Market Laboratory pullout section, on the page titled "Market Laboratory - Bonds." Again, averaging in over time in relatively short term (2 ½ Year CDs) may be best, as the Fed is likely to begin raising interest rates, as recessionary fears subside.

 

When to Sell?

As we've discussed, no one belongs in the stock market unless his or her investment timeline is more than five years, he or she can tolerate periodic 20% market corrections without selling, and there is a selling strategy. When would you sell the U.S. market?

Few credible financial sources predict a recession lasting longer than two quarters. As long as the long term prospects of the U.S. economy are positive, this is a relatively safe investment.

Yes, there is a serious housing market price correction, rising unemployment, high gas prices, high deficits and a falling dollar. But, unless and until you feel that fundamental prospects of the U.S. economy are negative in the long term, this market is a good long term investment.

Times are Tough

Remember the "Sentiment" indicator. Buying "low" often means buying at times when the mood of the market is very negative. Remember that the "tech bubble," the 1987 correction, and the runaway inflation in the 1970's were all very serious financial problems. And the U.S. economy withstood them.

This, too, shall pass.

She is co-author of Kiss, Bow Or Shake Hands, (Adams Publishers) a guide to doing business in sixty countries. The various world cultures, she notes, approach and conduct business in very different ways. It helps to understand that differences if you hope to sell your goods or services in other countries.

Morrison offers these suggestions in an interview with M. L. King, of Global Entrepreneur Online.

First, do your research. Look up some data on the country where you want to sell goods. Talk to Foreign Service officers at our embassies and get some tips. “Other countries know us better than we know them,” she explains. “They wear the clothes; they have the ipods.” Japanese and Chinese do tremendous research on other cultures.

Research will lead you to her second point: understand the different styles and expectations. “Know that if you have a business meeting in Japan, its probably going to be with a group, because (Japan) is a consensus based society,” she says.

Also, in many cultures business people are exceedingly formal. In Ecuador or Germany, for example, calling the other party by her first name might be viewed as a sign of disrespect.

Next, you'll need to respect the way other cultures conduct negotiations, Morrison explains. “In the United States, we are very quick. We have standards we expect in legal documents, and we bring in attorneys quickly,” she says. “In some other cultures, during your first visit they don't even discuss business. It's about development of a long-term relationship. In Southern Europe, Africa and India, for example, people want to know who you are so they trust you. Then they'll do business with you.”

Finally, know that a well placed apology goes a long way. “The majority of cultures worldwide are used to apologizing,” according to Morrison. “There's no way you can do business if you're not ready to take the blame. Even if you go to France, the first thing you do is apologize for not speaking the language.” Thereafter, they speak to you in English and negotiations go more smoothly.

Continuous improvement techniques provide a clear focus for globalization. Globalization exemplifies the motivating factors impacting the economy each day. Because of some of the areas globalization has impacted, consumers tend to seek quality global acquisitions alone with products and services whole- heartedly. Value implies a customer's evaluation alone with punctuality and quality expected of a product given a fair market price for a product or service.

Scenario

Who manufactures coach hand bags? Some individual's purchase counterfeit bags on purpose and others are simple victims of circumstances. At any rate, some actually look for a quality product when making a final decision to purchase a product. Feel this one the lady implied? On a recent excursion of mere infatuation to Concepts nail Salon in Valdosta, Georgia, an Asian lady offered some of the most elaborate finds of her coach and designer hand bags line. You can talk to me about anything in here…Her pick of the crop was a black or red leather coach bag that caught the eye instantly! Thinking to oneself, what a wonderful bag, the immediate idea was to run and check out the price on the internet. Honestly, this handbag retail at Macy's for 750.00. Wow! The search was now over for a Coach handbag. And yet, socially this seemed wonderful but morally, matters did not line up.

The consortium of management issues can be classified as either traditional or quality focused management styles in nature. Traditional styles are non conducive to quality. Displaying such attitudes requires implementing management and labor leading to breached relationships within time; trust can be restoredthereby producing a more efficient working environment empowering people to want to succeed (Burrill, C. Ledolter, and J.1999). Traditional management typically fosters attitudes to connect people by enabling positive parallels throughout the organization.

Rapid changes in management have occurred towards the future of quality. For example, we are committed to quality customer service. One reason for these changes includes the growing concepts of competition. In which case, the people come first in most situations. Resulting from these antics are quality goods and services which has been greatly increased.

Currently, several pioneers have blazed a trail concerning TQM. For instance, Kaizen believes that (1) An organization should provide a product or service suitable to satisfy the customer (2) To promote higher profits it would be feasible to meander towards lower cost and less defects and (3) More empowerment of employees to accomplish organizational goals should be displayed as a clear vision for the organization (p. 469).The idea of encouraging training leads to process improvements.

Philip Crosby made a point of defining the zero defects concept. In industries such as manufacturing quality improvement is vital. He stated that motivation is the leading factor for errors. Employees who are highly motivated will typically exemplify lower margins of errors (p. 494). Lack of knowledge and lack of attention were the main puns in Crosby's design model.

In short, TQM has engraved its mark on society. Everyone has their own definition of quality. The more successful organizations still recognize the need to achieving sound business success. The global market place maintains that in order to be successful quality is the underlying factor.

 

Assuming our memory serves us all that well, we didn't forget that rounds of Internet start-up millionaires had been created by the time the Internet bubble burst, in a way that they crushed the economy, not by it. This time, we certainly had winners too--those who sold big on properties and credits before the bubble was blown too thin and finally popped. And these big sellers can now turn around to represent the resilience of the troubling economy that has bad implications for only the rest of us.

To win the current and upcoming economic battles, get propelled by the hot air from "global warming," or maybe from "global growing." It's time to make another bet, but always be ready to jump off this will-be-overinflated, gigantic, "wheel of the globe" before the air will certainly start leaking out from it again.

Education and Technology

Education is thought before now to be transmission of knowledge to an unknowledgeable person; a two-way communication where there has to be a giver and receiver, and a process that is complete when there is transmission of information and there is a response. The use of technology in education has however changed styles, mode and methods used in education. The curriculum of schools is being re-written as course design is encouraging competitiveness and is fast changing. The learner do no longer need to see his teacher before he could learn from him neither is the teacher in some cases need to play his traditional roles of imparting knowledge before the learner could learn. There is a re-thinking in the field of education on the roles of teachers and the parts student will play in a technology driven society.

Global View on Learning

The teacher now need not be present in the same physical structure before he could instruct neither does he needs to even be in the same geography location with his student as the world now is a global village. The world is now networked and countries and people are interconnected such that a student residing in an Asian country and his teacher in Africa could make contact on a click of a computer mouse and to access course materials without difficulties. There is virtually nothing that is not on the World Wide Web (www), so the learner too could access information from other sources just as his teacher to complement his teacher's in order to enhance his learning. The teacher does no longer have exclusive preserve of "important" information and hence it is an error to refer to the teacher as a custodian of knowledge. The Internet media contain information about anything ever thought of on the surface of the earth and in different versions (video, text, graphics etc) and so the Internet is the most qualify to be called the custodian of knowledge.

Course Content Delivery

As mentioned earlier it is no longer very necessary for teacher to be present in a location for learning to take place and even he may not need to instruct but today his roles have changed in a virtual learning environment (VLE). The approaches in teaching and learning have given rise to many methodologies examples include where the teacher need to teach to impart knowledge via Internet media (Instructivism) utilising textual material, video etc or combination of these formats. He is referred to as an instructivist teacher but constructivist teacher on the other hand is where he does not need to teach but guide learner to construct knowledge by interacting with resources in his environment (constructivism) via the Internet media. A little difference however is recognized where the teacher, though still plays the role of a moderator as it is also applicable in constructivist, facilitate the learning activities of a group of learners in a virtual classroom without an attempt to "force" them into performance of tasks and activities. The freedom of learner to choose from different alternatives, decide what to learner, suggest time and course duration, participate in course design etc lend credence to e-learning as flexible alternative to learning.

The aforementioned pedagogical approaches (Instructivism, Constructivism and Socio-Constructivism) are popular in e-learning as course designs are fashioned to take after these fundamental concepts. The course management system (CSM) which is an application software in use in course content delivery continue to be based on any of the above pedagogical approaches or sometime a combination of any of them.

There is need to keep up as an individual, school, organization, institutions etc in the current knowledge trend