magellan :: essays research papers

In 1517 Ferdinand Magellan proposed to King Charles I of Spain for a fully funded expedition to find a western sea route to the Molaccan Islands. If Magellan could find an easy way through or around South America it would enable the Spanish to set up a profitable trade route with the Molaccans, known for its abundance of spices. On May 22,1518 King Charles I granted Magellan enough money to buy five ships. Over 250 men were divided up amongst the Trinidad, the San Antonio, the Conception, the Victoria, and the Santiago. The ships set sail on their journey on September 20, 1519 from a port in Sanlucar de Barrameda, Spain. The ships sailed south along the coast of Africa until they reached the equator. They then turned to head across the Atlantic Ocean toward northern Brazil. They reached South America at a city in Brazil called Recife. The fleet continued down the coast in search of a passageway through South America. Trades were made in Rio de Janeiro with Native Americans in December. Port San Julian in Argentina gave the crew winter shelter for five months. Shortly after resuming voyage, one of the ships was driven to shore and lost exploring an inlet. Just south of the 50th parallel, near Rio Santa Cruz, Magellan sent two of his four remaining ships to explore a large inlet. The ships returned two days later responding that they had been to three bays through narrow passages. Against advice, Magellan set out to sail through the strait. One of the ships gave up and set out to return to Spain. On November 28, 1520 Magellan’s fleet of the three remaining ships exited the strait into another ocean. The strait Magellan and his crew used is now called The Strait of Magellan. The new ocean was named the Pacific Ocean because it was very calm. This ocean had much more favorable weather than the last but was much larger than expected. The crew ran out of food shortly. Soon they ate the leather rope guards. Desperate to survive, the sailors ate sawdust and rats for 98 days. Many died of scurvy and malnutrition. Finally a small island in the west pacific was sighted. The ships stopped for food and to regain health. Magellan then sailed to Mindanao in the Philippines and on to Cebu Island. Although Spain did not immediately recognize the importance of the Philippines, they had become the greatest Spanish trading center in the East.

Economic Contribution of Migrant Workers in Bangladesh

Introduction Bangladesh is located in South Asia. It is the seventh most populous country in the world and is mostly densely inhabited. The poverty level, however, has fallen by more than 20%, helped by its prominent agricultural sector. The Bangladeshi economy is helped by its big garment sector, which contributes more than two-thirds of the country’s trade. The major challenge to prosperous growth is the vulnerability of the land to cyclones and floods. However, even with such challenges, Bangladesh has experienced a growth rate of 5% since 1990.This growth has been helped by remittances from expatriates as well. Since 1975, there has been a two-fold increase in the per-capita GDP. During the 2008 global economic recession, Bangladesh managed to stay flexible. According to the Bangladesh Bureau of Statistics (BBS), there was an increment of $62 in the per capita GDP in FY2009 from US$559 at the end of FY2008. Fiscal 2009 registered per capita income of US$621. About 25% of t he country’s GDP in 2009 came from remittances of expatriates, totaling $9. billion and garment exports worth $12. 3 billion. The increasing foreign direct investment highlights the growth rate of the Bangladesh economy and remittances from overseas Bangladeshis, totaling $11 billion in FY10, accounted for almost 12% of GDP. Scenario of migrant workers in Bangladesh is given below throw a chart. [pic] Economic Contribution of Migrant workers in Bangladesh Remittance is the life line of Bangladesh economy. Some 4. 5m nonresident Bangladeshis are working abroad, and sending home hard earned foreign currencies.It is believed that the actual number of Bangladeshi migrants, both legal and illegal, would be close to 7. 5 million. In the first 10 months of FY 2006-07, number of manpower export stood at 0. 42m, showing 83. 14% rise, compared to 0. 25m in FY2004-05. In FY2005-06, the number stood at 0. 29m, current year to year growth is around 16%. In addition to achieving higher exp ort earnings, the country witnessed a 44 percent growth in remittance earnings during the first quarter of 2008-09 fiscal year compared to the same period of the previous fiscal year.The other records of remittance earnings in a single month are $820. 71 million in July and $808. 72 million in March of year 2008. A total of 9,81,102 Bangladeshi people went abroad in 2007-08 fiscal year which is about 74 percent above the previous fiscal year figure. According to the statistics, on monthly average basis more than 81,000 Bangladeshis went abroad in 2007-08 fiscal year. The figure was 46,000 in the previous fiscal year. Non-resident Bangladeshis (NRBs) sent $2. 45 billion to Bangladesh between July and September of 2008, according to the Bangladesh Bank statistics. Meanwhile, private bank officials said the global economic slowdown, mainly in the US and European countries, is yet to impact the remittance inflow. They, however, apprehend that if the crisis continues it may have a negati ve impact on the inflow. The remittance market of Bangladesh has been showing a steady growth in terms of incoming remittance volume.Considering the current macro-economic indicators, it seems that this growth run will continue in the coming years. Central Bank predicts that our annual incoming foreign remittance will touch $10 billion in the next 3 years. The reasons for such robust growth can be summarized as: †¢ Stable macro-economic indicators including GDP growth, †¢ Steady growth in manpower export specially in the middle east †¢ Substantial devaluation of the local currency †¢ Rapid urbanization Development of new remittance corridors in Australia and part of Europe and Africa †¢ Increased focus of Central Bank and the Government to channel funds through formal channels †¢ Increased competition among financial institution to grab market share †¢ Aggressive marketing policy adopted by Banks to increase their share of wallet †¢ Expansion of branch network of various commercial banks †¢ MFIs involvement in channeling remittance funds in remote areas †¢ Participation in the UN peace keeping missions Anti-Money Laundering rules and regulations came in force However, the market is still far from perfection in terms of service quality, cost structure, and transaction risk aspects. Among all, the biggest impediment is the speed of transactions and cost of transaction. In cases, it takes more than a week to send a foreign remittance to beneficiary. Average cost is 20 SAR for a remittance from Saudi Arabia to Bangladesh. Banks drives the legal channel for remittance mobilization.Top 3 remittance receiver banks in market are given in Table 1. 1. Table 1. 1 Monthly Inward Remittances | |Sl. |BANK |August, 2008   (in USD Million) | | | |1 |Sonali Bank |104. 700 | | | |2 |Agrani Bank |66. 091 | | | |3 |Janata Bank |64. 50 | | Whilst data on Non Resident Bangladesh (NRB) remittances coming into Bangladesh are readi ly available, projections for local remittances are difficult to determine. The figures in USD given in the Table 1. 2 are approximate. Table 1. 2: Local and Foreign Remittance Comparison in USD | |07-08 (No. ) in USD |2008-9 (No. ) in USD |2009-10 (No. ) in USD | |NRB Remittances |7 million |8. million |10 million | |Local Remittances |14 million |17 million |20 million | Most of the remittances sent to our country are for various livelihood purposes, such as disbursement of Small loans, living expenses, business start up costs, medical treatment and funds for asset purchases. This highlights the importance of fast disbursement of money that e-Remittance System promises to deliver. The system will help attract new un-banked customers who have previously depended upon informal channels.At present, only a fraction of remitters send their money through banking channels. The e-Remittance system will also provide the right platform for handling the substantial market for within country remittances. Source Countries of Remittance From Saudi Arabia, over a million workers sent $1,312 million during July-March period of 2007. In the same period The United Kingdom came out as the second biggest source of remittance with Bangladeshi Diaspora sending home $657 million to their relatives at home, closely followed by $656 million from the United States of America.Non-resident Bangladeshis remitted $559 million from the United Arab Emirates and $494 million from Kuwait in July-March period of 2007. Economic Benefits Remittance has economic benefit both at macro and micro level. In 2004, the formal remittances contributed 6% of GDP. If informal channels were included this contribution reaches 9-10% of GDP. In 2004-2005 fiscal year remittance was 44. 47% of export receipt. The proportion of foreign aid was only 38. 74% of remittances in 2004-2005 fiscal year and foreign direct investment was only 13. 58% of remittances in 2003-2004.The remittance has significant macroeconomi c impact at household level. The majority of Bangladeshi migrants abroad is unskilled, and originates from rural areas and poor community. The poorer the household, the more impact or benefits remittance income can have alleviating poverty. Remittances allow the poor people to increase expenditures on both durables and non-durable products, and provide them with protection against negative income shocks. Statistics between growth of migrant workers and growth of remittances are mention bellow. [pic] Migrant workers drive economyBangladesh's economic development largely depends on remittance sent by migrant workers, which is one of the sources of earning foreign currencies. A third of the 18 lakh people who enter the job market a year go abroad for work, adding that remittance inflow will increase significantly if the figure can be increased to 10 lakh in five years. We hope the remittance inflow would cross $14 billion mark this year. The incumbent government sent about 2 million Ba ngladeshis from January 2009 to October 2012 and the country received around $44. 22 billion in remittances during the period.Expatriates' contribution to the national GDP (gross domestic product) is 11 percent. Over 30,000 female workers go abroad a year to work, and the government has been working to transform them into skilled hands to create more jobs. The government has also taken some steps, including rehabilitations of the returned migrant workers and scholarships for their children, to ensure better facilities for the expatriates and their families. Around 25 percent of the total employment comes from overseas employment, which should be increased to 50 percent in five years. Conclusion According to the World Bank, Bangladesh has achieved a growth rate of 5. % in FY2009. The country has registered significant expansion in its middle class. The consumer industry has grown considerably. The increasing foreign direct investment highlights the growth rate of the Bangladesh econo my. At present situation when political imbalance of our country, violation of law in every sector, corruption, price hiking, lack of electricity, gas etc creates thousands of problem in economy of Bangladesh, and in this situation contribution of migrant workers strengthen the growth rate of Bangladesh economy. That’s why Bangladesh's economic development largely depends on remittance sent by migrant workers.

Blue Nile, Inc. Essay

Vision and Mission â€Å"Blue Nile’s vision is to educate its customer base so that customers can make an informed, confident decision no matter what event they are celebrating. It wants to make the entire diamond-buying process easy and hassle-free. In addition, an important part of Blue Nile’s vision as CEO Diane Irvine said in a recent webinar with Kaihan Krippendorf, is for the company to be seen as the â€Å"smart† way to buy diamonds, while saving 20%-40% more than one would in the typical jewelry store.† (Hoffman, 2010, p.1). Objectives The objective of the case study of Blue Nile is to evaluate and study their current business strategy. Internal and external analysis are used to identify the weak points or aspects of their current strategy. Other courses of action will be identified to improve the implementation of Blue Nile’s strategy. Alternatives will be recommended to increase the brand name for Blue Nile. External and Internal Analysis Porter’s Five Forces Model Rivalry among Competing Sellers. Rivalry among competing sellers is the strongest among the five sources of Porter’s Model. There are many competitors in today’s diamond market. This makes the rivalry between Blue Nile and its competitor’s high. There are small mom and pop shops, the larger retain stores like Tiffany and Co. and DeBeers. Blue Nile is faced with other online competitors like themselves as well as websites such as EBay and Amazon. The competition is extremely intense to gain customer base. With all the competition each company must be able to offer their customer something they cannot find with any of the others. Bargaining Power of Buyers. The Bargaining power of the buyer is high in the diamond purchasing world. The bargaining power for the buyer with Blue Nile is medium because customers are able to see the price of their desired purchase  and shop around to find a better price or deal. Switching cost for the customer is virtually none existen t because they can switch to another company if they do not like the price, customer service, or other things associated with their purchase. The benefit Blue Nile has over the bargaining power of the buyer is they have prices set below their competitors with the same great quality. Bargaining Power of Suppliers. There are only a limited number of suppliers for Blue Nile to choose from, making the bargaining power of the supplier high. Blue Nile must depend on their suppliers to deliver their products in a timely manner in order to provide timely delivery to their customers. Suppliers are able to dictate their prices to Blue Nile because of the limited amount of suppliers. Blue Nile cannot accept prices from one supplier that supplier can easily find another company to sell to. Threat of Substitute Products. There is a threat of substitute product for Blue Nile. The threat falls into the medium category because other substitutes do exist. Some substitutes are diamonique, cubic zirconia, or other artificially made diamonds. Some people will choose a substitute as they cannot afford to purchase and expensive diamond. Even though the quality is not the same as a real diamond many people still choose the substitute. Threats of New Entrants. There is an increase of new entrants as it is now easier than ever before to enter the diamond market. In the past the startup cost was extremely high making the entrance of new companies low. It is easier for new entrants today because the availability of the internet to reach customers. Also, the startup is low in online business. SWOT Analysis Blue Nile has a strong position in the market because they have continued to gain confidence with their consumer. Being the largest online dealer in the world helps them to maintain their position in the market. Unfortunately, Blue Nile is facing threats and weaknesses that can deteriorate their market position. The increasing competition from other companies as well as their weak brand recognition are a major cause for concern. Strengths Blue Nile is the leader in online jewelry making. They have a unique selling position as they were the first company to allow an individual to customize their diamond engagement ring. Customers are able to choose and design their own ring with options such as clarity, size and the shape of the diamond. Customers can also choose from many settings for their engagement ring. Customer service is a priority to Blue Nile. They offer their customers a personalized experience to build customer confidence. Many options are made available to their customers through their website. Customers can choose from toll-free calls, live-chat, or email as a means to contact customer service. Convenient billing and insurance options are other ways that Blue Nile strives to provide excellent service to their customers. Customers are offered a bill me later option as well as a 30-day money back guarantee. All orders are shipped to their customer fully insured to build customer confidence in Blue Nile. With as many as forty suppliers Blue Nile has the capability to maintain a unique supply chain model. They maintain strong relationships with their suppliers. Their diamonds are offered for direct sale from their cutters. This allows Blue Nile to purchase stones at a lower cost than the competition because they avoid the mark-up from third-parties. Their virtual online inventory permits them to have limited inventory on hand, therefore decreasing their carrying cost. Weaknesses Blue Nile does not have a physical store which takes away from the experience of touching and seeing the actual engagement ring that will be purchased. A diamond engagement ring is a large investment. When customers purchase a diamond online they are taking a risk at purchasing a diamond without being able to examine or actually touch their ring. This risk causes the purchase prices to be lower than those purchased in a physical store. Customers are more comfortable purchasing a more expensive ring from brand name stores like Tiffany and Co. Customers are also more confident in their online purchase with Tiffany and Co. because they have a physical store and the popularity of the Tiffany and Co. brand name. Although Blue Nile is continuing to grow and their business model appears to  be strong they still need to increase awareness of their brand name. The lack of brand awareness gives other competitors such as Tiffany and Co an advantage over Blue Nile. They need to create more ways to bring recognition to their brand name. Customers will not feel secure purchasing a large purchase from a brand they do not recognize. Increasing their brand name will give Blue Nile an increase in sales as well as increased customer confidence. Opportunities Sales for Blue Nile mostly focus on diamond engagement rings. Men are mostly the target for purchases of engagement rings. Blue Nile can increase their sales and their target market by branching out into other jewelry products. A broader product base can open up their target market to woman also. Branching out with a physical store front can also increase Blue Nile’s sales and brand recognition. Having a chain of physical stores will give those customers an opportunity to purchase from Blue Nile who otherwise would not purchase because of the risk of making this type of purchase online. Sales would increase because customers tend to spend more per purchase when visiting a physical store as it reduces the perceived risk of the customer. Globalization is a huge opportunity for Blue Nile. This would open up a vast amount of sales and will expand their brand name by offering their products internationally. The international market is an attractive opportunity for Blue Nile to broaden their customer base. Competitors such as Tiffany and Co have already tapped into the international market so for Blue Nile to remain competitive they must seek to globalize their business. Currently only thirteen percent of sales are from the international market. Threats The increasing cost of diamonds is having an impact on profitability for Blue Nile. They have a virtual inventory, meaning they purchase their diamonds at the current spot rate. When the price of diamonds is increasing this puts Blue Nile at a disadvantage because most competitors will have  purchased their diamonds at a much lower price because they have them in their current inventory. In order to keep prices competitive Blue Nile most likely will absorb the cost of the increase in the diamonds. Blue Nile’s main threat is the competition of other companies such as Tiffany and Co and DeBeers. Tiffany and Co. is the biggest threat to Blue Nile as they are famous for their diamond engagement rings, making their target market mostly men. The famous brand of Tiffany and Co makes it a very desirable choice for those men seeking to purchase an engagement ring. Many of Blue Nile’s competitors also offer many of the same benefits as a purchase from Blue Nile. Customer service, experts to assist in the purchase, and return policies offering customer satisfaction have become a norm among most competitors. Many other online jewelry companies are entering the market for online jewelry purchases. They should continue to monitor the new companies entering the market. The threat of new entrants is an area that they must continually be aware of because letting their guard down could cause them to lose market. Because of these threats, Blue Nile must continue to strive to rise above the competition. Problem Identification Given that Blue Nile has competitor’s that threaten to capture the customer base, what can Blue Nile do to capture additional customer base?  Given that Blue Nile needs to increase sales and tap into a different market, what can Blue Nile do to increase sales and brand awareness? Solutions To attract additional customer base Blue Nile should create additional products to attract the female customer base. Blue Nile should offer bracelets,necklaces, and other items that would broaden their customer base. As of now mostly younger men have the need to purchase an engagement ring. By offering additional products their customer base could grow to also include older men as well as females. Opening up their market to this additional customer base can increase their sales significantly. In order to increase sales and brand awareness Blue Nile should look at two solutions. The first is to open a chain of brick and mortar stores as  customers tend to enjoy the hands on experience of purchasing expensive jewelry from a physical store. Customers tend to spend more per purchase at a physical location. This would increase both sales and brand awareness. Expanding their merchandise line in other countries would also increase their customer base. Blue Nile should use their same strategy of providing diamond jewelry to the international markets. References Wheelen, T., Hunger, J., Hoffman, A., & Bamford, C. (2014). Blue Nile, Inc. Case Study 10. In Strategic Management and Business Policy (14th ed., pp. 10.1-10.16). Boston: Pearson.

Responsibility of student Essay

â€Å"In the long run/ we shape our lives/ and we shape ourselves//. The process never ends until we die. And the choices we make/ are ultimately our own responsibility.// (Eleanor Roosevelt) Being responsible/ is a learned behavior. Sometimes// we want everything to be easy. I often hear some students say /†Bakit may P.E tayo,hindi naman natin magagamit pag nagtrabaho na tayo†. We have so many complaints in terms our studies. As Mr. Olarte once said â€Å"Kapag nag enrolll ka siguraduhin mong papasukan mo yung mga klase mo.† Most of us /take our studies for granted/ not taking in consideration the effects of these actions/ to our future. So//, why do we need to take responsibility of our studies? They say /that education is not a choice//, it is a privilege.// We all know/ that not all students who finished their secondary education /can afford to take up college. Fellow classmates// we are very lucky to be here in SMU,// taking up our own choice of profession. So why we not taking advantage of this given opportunity? Many students don’t attend their classes. Some would prioritize playing DOTA,/ waste their time in drinking and smoking rather than finishing their school requirements. Some practice cheating and academic dishonesty, instead of studying hard for their exams. These irresponsible students don’t think of the consequences of their actions. And as a result? Failing grades and disappointment of parents. And yes//, later, regrets. Tons of them. By being responsible, accountable and dependable. I believe that every one of us could achieve whatever goals we have set for our lives. Just always remind yourself that every decision and actions that you will make entails a big responsibility. And as a student you know what your responsibilities are. We should be actively involved in the learning process and should behave appropriately for a learning environment. Attend all your classes and listen carefully. Put a sufficient time for your studies. And if you think you’re doing your best right now, then, strive harder. With all the temptations, hindrances, and problems towards education we should always bear in our mind that OUR OWN FUTURE LIES IN OUR OWN HANDS. Let us all be responsible and strive harder for our own success.

Funeral Blues: an Explication Essay

Stop all the clocks, cut off the telephone,Prevent the dog from barking with a juicy bone,Silence the pianos and with muffled drumBring out the coffin, let the mourners come. Let aeroplanes circle moaning overheadScribbling on the sky the message ‘He is Dead’. Put crepe bows round the white necks of the public doves,Let the traffic policemen wear black cotton gloves. He was my North, my South, my East and West,My working week and my Sunday rest,My noon, my midnight, my talk, my song;I thought that love would last forever: I was wrong. The stars are not wanted now; put out every one,Pack up the moon and dismantle the sun,Pour away the ocean and sweep up the wood;For nothing now can ever come to any good. In life, people experience moments that are absolutely indescribable; from the birth of a firstborn child, to the death of a parent; things in life that impact us with such unrelenting force, that we are unable to even fathom their depths. It is the job of a writer or poet to make a reader feel the emotions of others, describe the indescribable, and tell a story. W.  H. Auden’s â€Å"Funeral Blues† does all three, and more for readers, due to its beautiful descriptive language, blinding imagery, and theme. The poem demonstrates everything that is needed in such a fine piece of literature. Have you ever heard the rustle of the leaves? The wind whistle, maybe? Both are examples of descriptive language that we hear every day, so often that it has become common. Auden takes the simple things and describes them with sharp detail. â€Å"Muffled drum† is a good example of a solemn drum beat of a funeral procession. Aeroplanes moaning overhead† is a good example of personification, as if the aeroplanes are mourning the loss of the loved one also, and by extension, the world. This effectively gets the point across that the writer feels as if the world has stopped due to the death of this person, and is a very powerful message. The theme of this poem is the loss of a loved one, something that almost everyone has experienced in their life, or seen someone go through. It is known by many as the sick feeling one gets in their gut when they hear the news of death, or the resignation they feel once they know fighting it will do nothing. Death is a natural occurrence, but that knowledge does nothing to alleviate the pain of loss. It many ways, it hurts even more to think that your hardships and pain have been felt by billions before you; insignificance adds insult to injury. That is precisely why this poem works. The writer’s seemingly effortless words mesh together to paint a picture: a perfect understanding of loss. The need for one’s pain to not only be significant, but to be acknowledged by all.

Modern vs. Postmodern Essay Example | Topics and Well Written Essays - 1000 words

Modern vs. Postmodern - Essay Example Modern architecture works to reduce the embellishments and decorations of earlier trends to a minimum, to reduce the form of the structure to a minimum, to reduce external influences on the designs, or perhaps to accomplish a combination of all of these. A better understanding of what might be meant by the term modern architecture can be found through an examination of the artistic movements that occurred in the mid-1900s that applied to architecture. Modernism was â€Å"the name given to the new forms that appeared in all of the arts – in paintings, sculpture, architecture, music and literature† (Pile 323). Malcolmson describes it as a reflection of the search for â€Å"a better place for all citizens at all social levels after the appalling carnage of the Great War† (410). Modernism in Gold’s view was â€Å"developed in the background of war, revolution and social dislocation† (21). It was the search for a utopia which combined the artistic and ae sthetic movements important to the common man while providing curved, comforting spaces for the traumatized citizens of the post-war age. According to Barr (1954), modernist architects had followed the trails of Art Noveau which depended on curvilinear and organic forms. Modernism emerged in art and architecture as the composition of forms started to articulate into asymmetry, grouped shapes, and flat colors. The common themes of modern architecture include the master plan which was a layout of structures in geometric harmony with the boundaries of different zones of land use within its surroundings. The interiors were characterized by the lifestyle of the owners and depiction of every day activity (Gold 1998). Early modernist architects looked to their past for inspiration and trends, while later ones developed original and radical ideas of form. The Bauhaus designers were driving contributors to the art of employing straight lines and the inventive use of materials in household it ems, but the four drivers of the modern architectural movement were Walter Gropius, Ludwig Mies van der Rohe, Le Corbusier, and Frank Lloyd Wright (Barr 220). The designs of these men have been held as the epitome of logic, clarity of structure, use of space as fluid planes, and surfaces as fine materials. Mies van der Rohe’s grand but mystical skyscraper designs and Le Corbusier’s Villa Savoye denoted the age of the citizenry. Among these men, Le Corbusier was perhaps the most influential for later development of the modern age. He is largely considered the pioneer of modernism. He was also a pioneering urban planner whose vision encompassed the building of high rise structures in open spaces developed for individuals. His logic was based on humanitarian logic, and revolved around equality, fundamental needs regardless of cultural background and the right to comfortable and accessible dwellings. Le Corbusier based his architecture and design philosophy on collective a nd family life (Le Corbusier Le Grand 2008). He developed three layers of needs to address man’s need for dwellings. First is the pure physical need for living space. To satisfy this aspect, Le Corbusier felt the building needed to consider the need for sun, space and vegetation within living spaces as the logic for construction. The second level of need was psychosomatic

Toyata Case Study Example | Topics and Well Written Essays - 750 words

Toyata - Case Study Example The main office of the company is situated in Tokyo. The company is one of the greatest giants in the field of the world machine building, though it also has expanded into the area of robot building. The mission of Toyota, can be summarized as the following â€Å"to attract clients who value safety and quality as the first priority†. The company also has a well-established system of principles that is strictly followed in all countries of its operation. It proclaims the principle of the respect of any language and traditions of the nation that they involve into their operation or marketing processes. One of the most significant principles is to do one’s best to create a comfortable atmosphere in the company to motivate the staff to be dedicated to their work. The vision of the company covers the company’s prosperity up to 2020. They see the company’s goal in constant development, penetration into new territories, increasing the quality of the car and improvement of the life quality. According to the company statute the eventual goal is to achieve the total satisfaction of a customer. Up to 2020 the company is planning to set the car production or at least its assembly in several countries that still do not have Toyota plant in. They also intend to introduce several new car models. The current strategy of Toyota originates from the one within its foundation. The main principle of it is ‘Just in Time production’ (that implies the manufacturing process follow the time-plan strictly). The company has worked out the System of Toyota Production that covers such elements as teamwork, mutual respect, constant improvement, and facing the challenge. The company’s strategy is to achieve expansion and development. In the industry of operation the company possesses the fifth place in the world. By now a comfortable, safe and reasonable priced car has also captured the American market that with the world crisis started looking for less luxurious