The Increasing Trends Of Smart Phones

The Increasing Trends Of Smart Phones With the emergence of new technologies and communication medium, the world is becoming borderless. This fosters desire to remain connected every moment. Every people like to share information across the world. The digitisation of data, voice, and video has fostered excitement within the customers. The advent of digital television, set-top boxes, MP3 players, mobile phones, digital cameras are entering into everyones home. The Internet with smartly connected appliances has given birth to digital revolution. One such revolution has been emerged in the cell phone industry. Earlier, when cell phones were launched, it belonged to the segment of luxury product. With the digitalisation, the analogue phones moved to digital mobile phones. http://gipscorp.com/blog/tag/mobile-trends/ Source: (Gallagher, 2009) This fostered clear and reliable calls. Additionally, provided features such as call waiting, gaming, global roaming etc. All these digital consumer devices are rising at exponential rate because of its ability to access, modify, and manage information at any time and anywhere in the world. Today, over 3.6 billion people own or use mobile devices i.e. 25% of worlds population and 1.1 billion people access internet through desktop PC. Cellular phones had the maximum growth among all digital devices including computers. Today, more people access Internet via mobile than through computers. With the emerging new technology, innovation, smart phones came in the market. The demand for smart phones is rising at exponential rate. 3. Smart phones Smart phones are the mobile phone having all capabilities of phones i.e. making and receiving phone calls, sms, and accessing the web. It provides computing feature along with connectivity. These are digital phones having features of PDA cellular devices. Personal Digital Assistant (PDA) is a mobile device that has various computing features like: access to e-mail, store email, play games, exchange faxes and data, browse Internet, send and receives multimedia files etc. PDA allows user to do various computer related jobs such as editing documents, using spreadsheets and databases, preparing presentations etc. It has built-in or option to accept Wi-Fi capabilities, Bluetooth capability and may also offer infrared beam to transfer information between various devices. Smart phones helps user to access email wirelessly, allow communication via voice or text, browse Internet, connect to secure corporate network, synchronize appointments, contacts, and calendars. The smart phones are desig ned in a sleek and lightweight model; QWERTY keypad centric device and a common operating system. Smart phones ability to support Wi-Fi, Bluetooth, IR beaming features makes it more demanding device. The smart phones are the fastest growing segment of the cellular phone market that consists of powerful processors, large screen, operating systems, and abundant memory space. The demands for smart phones are growing and have climbed to 55.2 million in Q1 2010. The growth of smart phones rose to 67% this year (Vincent Chang, 2010). Source: Vincent. (2010). Source: Vincent. (2010). Today, smart phones can be used for diversified purposes replacing the use of previous media, that too with unique and competitive benefits. The mobile can be used for making and receiving calls, it is used to reading text, email messages or books through mobile devices. It has expanded its scope from just communication to distribution of knowledge and absorption of information. It facilitates synchronization of reading positions, browse, download or purchase content over the air and interact with friends globally. It also helps in playing songs, watching movies, listening to radios, watching television etc. 4. Impact of smart phones on the various digital devices we own Smart phones are now become the most lucrative segment of mobile industry. North America and Europes smart phones shipment accounted of 25% of total wireless handset sales in 2009. By 2015, smart phones will increase by 47% of the wireless handset market. In addition to this, smart phones are becoming one of the main Internet access channels. According to a study done by Gartner, mobile phones are expected to overtake Internet access through personal computer by 2013. It is fact that smart phones provides diversified features of various standalone products, and will be owned by the consumers. Smart phones provide multiple features of various handheld devices that will affect the purchase standalone cameras, media player, gaming devices, personal computers etc. It is estimated that smart phones will become the single most common handheld devices in the near future. The feature of smart phones to allow browsing Internet and stay connected has fostered human to bypass even personal comp uters demand. The Internet browsing through smart phones provides faster access to Internet as compared to personal computers. It is more personal medium of Internet browsing. Because of this, smart phones has already bypassed personal computers demand in the recent years. The facility to edit documents work with spreadsheet, PowerPoint, and databases, has reduced the demand for PC. As smart phones are more handy and convenient to carry, people would like to use it in place of PC. Moreover, camera features are provided with smart phones that facilitate consumers to do photography as well as recording through the same device. Listening to music or radios from the air, downloading and uploading music or media files are facilitated through the same smart phones. Therefore, instead of possessing media player to listen music; PC to access Internet; mobiles just to make and receive calls; DVD to watch movies; cameras for photography, etc; it is simpler, easier, convenient, reliable and cheaper to carry one single device having all the above features i.e. smart phones. This will adversely affect demand and profitability of the various digital device producers. Even the craze of application on mobiles are growing and making mobile producers to add new features into the smart phones. The increasing trend of smart phones will subside the need of various digital devices but will also face with various implications. Security threat through mobile will increase; the increasing demand for smart phones will result in heavy traffic congestion that will result in slower and disruptive speed. It will lead to extra burden on the wireless networks. Moreover, advanced features of various digital devices are hard to be included in the smart phones and inclusion of all technology will make it more expensive. The increasing craze to have multi-feature smart phones will increase the demand and also increases its price. Thus, making more profit in growth and profitability to the producers. 5. Introduction to e-commerce Web Technology 2.0 In the era of rapid globalisation, more and more companies are gaining competitive advantage by using internet for direct selling and for communication with the suppliers, customers, creditors, clients, shareholders, partners, competitors who are normally dispersed globally. The use of Internet for the above purpose is termed as Electronic Commerce. Electronic Commerce or popularly know as e-commerce includes all electronically mediated transactions between organizations and the third party it deals with. It includes financial transactions such as buying and selling on the Internet. Also deals with request for some information by the customer or customer feedback through Internet etc. According to Kalakota and Whinston (1997), e-commerce has various perspectives. For instance: The delivery of information, product or services or payment by electronic media. The application of technology towards the automation of business transactions and workflows. Providing service delivery with increased speed and improved quality, along with reduce cost. Online buying and selling of products and information. E-commerce fosters organisation to sell products, advertise, purchase supplies, bypass intermediaries, track inventories, eliminate paperwork and share information. E-commerce helps to minimize the expenses and unwieldiness of time, distance and space involved in doing business globally. This helps to gain better customer service, high efficiency, improved products, higher profitability and increased competitive advantage. With the passing of time, Web Technology 2.0 was introduced. Web Technology 2.0 was the term coined by OReilly. It is transformation of Internet into Web platform having full-fledged computing. According to this, platform is characterized by open sourcing, greater interactivity between user and also providing facility for uploading or downloading anything user desires. For example, web logs, wikis, RSS feeds, social networking, Web API, Orkut, MySpace etc. the technology includes server-software, message-protocols; standards based plugins and various client applications. Some of the e-commerce hosting solutions having Web 2.0 features are: Free blogs many web-hosting providers give blogs free of charges. These are easy to use and friendly with the search engines. Social networking tools chatting scripts and bulletin boards provide power to create a community environment. Multimedia support Multimedia technologies such as Flash and Silverlight, can be used to enhance the experience of each site visitors. 6. Impact of E-Commerce and Web Technology 2.0 in Amazon Inc Amazon is an online retail website incorporated in 1994, USA. The company is listed at NASDAQ (listed in the year 1997 as AMZN) and has global operation in USA, France, Canada, Germany, UK and Japan. Amazon is the first company to sell products directly or becoming a platform for sale of various products. The Amazon was established with the vision to become Earths biggest bookstore but currently it has product portfolio that includes diversified items, ranging from books to household products. It includes music, videos, electronics, toys, beauty products, games, and apparels. The company also offers services such as self-publishing, e-commerce platform, online advertising and co-branded credit card. This global Internet company had around 64 million active global customers and reported revenue of 24.50 Billion in the last financial year. The company also reported 27.9% of sales growth (2009) and consists of 24,300 employees. (Yahoo Finance n.d.). E-commerce technology has been implemented at Amazon. The basic objective was to use Internet for buying books with high speed, convenience, and as enjoyable shopping moment. To have satisfied shopping experience, Amazon Inc created an e-retail infrastructure to meet the needs of the customers. For instance, demand for out-of-print book is fulfilled by, first checking its availability with the suppliers and then notifying customers through email for purchase conditions and price before shipping it. E-commerce implementation at Amazon helped them to have reliable, secure, scalable, better experience, transparent pricing etc (Amazon.com n.d.). Amazon success was achieved due to its loyal customer base and repeated purchases. This was achieved through easy to use functionality; prompt customer service, trusted transaction environment, editorial and customer reviews, manufactured product information and customized web pages with individual preferences, facilities for notifications and re commendations etc. With the help of Web2.0 technologies, its online community provides product reviews, one recommendations lists, buying guides, wish lists, wedding and baby registers. E-Commerce helped to reach customers globally as well as carry its operation in 24*7 modes. Moreover, at Amazon, it subcontracted most inbound logistics and operations, retaining only the order processing, billing and customer service functions. During 1999, it started building its own warehouses in order to have more control over logistics. This simple change I the value chain has a profound impact on the organisation and its cost structure. The firm infrastructure at Amazon id considerably smaller than a traditional retailers, as is the effort devoted to managing it. It requires far less real estate, no investment to build or remodel stores and no stores sales personnel when compared to the other value chains. Human resources has fewer people to hire and train, technology development focuses on the website for taking orders and not on sales systems for retail stores. Amazon has implemented a feature called one-click checkout. This states that if you have provided information earlier like shipping and billing address, credit card numbers, and the user can click on one button to checkout. 7. Impact of E-Commerce and Web Technology 2.0 in eBay EBay is a company formed in the year 1997, California U.S.A. The company is an auction company and also provides online shopping website. EBay holds 88% market share and fosters online person-to-person auction community. The eBay Inc deals basically in three businesses i.e. (Yahoo Finance n.d.) eBay marketplace it provides online e-commerce platform that fosters buyers and sellers interactions and trading with each other. It allows sellers to list items for sale on and auction or fixed price basis. The buyers are given options to bid for and purchase desired items. It also provides feedback forum, verified rights owner programs, safe harbour programs, loyalty programs, and customer support. Online payment services with the help of PayPal, it aims to create new global standards for online payments. It enables customers with an email address for receiving and sending online payments. This provides various services like: Bill Me Later transactional credit for U.S. online consumers at the time of sale, verification of PayPal, withdrawing of money by account holder, trust and safety programs etc. its safety programs are to reassure customers about the secure online service on eBay. Skype Internet Telephony The success of online auction industry depends upon expertise in technology, talented human resource, product innovation, after sales service, technical assistance, customer services, accurate billing, advertising and e-commerce. This also includes gaining a large customer base; retaining existing customers, secure payment and range of products. EBay offers collectibles, real estates, vehicles; office equipments etc. It fosters its customers to create personalized auctions and online stores for selling used or new products. Its peer reviews creates confidence and operation in global market opens new markets. The supply chain at eBay is: The eBay core competencies were bidding site, technical proficiency and usability. Its major focus is on connecting people and focus on community. Therefore, it exploits benefits of customer relationship management. Its revenues are from listing and commission on completed sales. The e-commerce helped eBay to establish worldwide electronic auction. This fostered amazing sales and profit growth over the previous years. The main product helped to increase profits were eBay motors, media and collectibles. E-commerce and Web technology 2.0 also fostered greater impact on the popularity of Amazon and eBay companies. The e-commerce helps the organisation to provide convenience to buyers and sellers. Here, every transaction or request is based on Internet, so buyers job is just to click the items to be purchased, add in the shopping cart and make payment. This helps to save time as well as compare products of different brands from different e-shopping stores. The e-commerce ability to provide safe and confidential transactions creates trust. The company offers to deliver safe and timely products and in some cases, full refund of money if goods are damaged. The web technologies 2.0 includes various social networking platforms such as Face book, orkut, etc. the Face book has 200 million users whereas orkut has 60 million users and Myspace has 110 million users. Among 200 million users of face book, half of the users login on the site each day. The integration of online market place with soc ial networks, provides higher satisfaction to the consumer as here, transactions are done with social friends. Web technology 2.0 allows consumers to play active role in as well as get involved in the website content. This helps the business to gain trust, credibility and popularity. It helps to create communities on the basis on existing products; building relationship and exploring new relationships with their customers. Web 2.0 technologies help to establish and strengthen brand recognition and allow customer to be retained. EBay has detailed feed back report that bridges the gap between organisation and customers. Face book platform is used to promote eBay business. EBay Auctions application helps to show auction listing on personal Face book profile. The customers can also browse friends auctions, search, creating wish lists, comment etc. Thus, e-commerce helped Amazon and eBay to gain competitive advantage through implementing e-commerce in their business as well as web techno logy 2.0 provides various social network platforms to the company. This social network fostered them to shift from static web pages to dynamic websites, where users can upload or give comment or their opinions freely. This ultimately helped the company to bridge the gap between firm and consumer and also fostered better understanding of their customer base, and as tools of promotions to their offerings. Thus, e-commerce and web 2.0 helped organisation to achieve its triple bottom line more efficiently and effectively.

The contribution of infrastructure to Nigeria’s economic development and future prospects

Introduction There is general consensus that there is a positive relationship between development in the financial sector and economic growth providing the means to mobilize and to allocate funds in the economy (Masha et al., 2004; Shaw, 1973). However, financial development is also shown to be inadequate to cause economic development often being considered to be a passive handmaiden serving to enhance the output and contribution of the real sector (production) (Firzli and Bazi, 2011; Olaseni and Alade, 2012). There is therefore need for enhanced focus on the growth of the real sector, which in most cases is private sector driven and includes economic activities of a country’s citizenry. Herein lay the import of infrastructure development and the need for its aligned pursuit with financial sector development for enhanced national economic development. This research assesses the potential for utilizing infrastructure investment to enhance economic development in Nigeria, seeking to show nee d for enhanced focus on infrastructure investments to achieve the country’s desired economic growth and a positive future prospects. Aim of research This research proposes that there is significant potential for utilization of infrastructure investment to achieve enhance economic development of Nigeria. Through the assessment of this potential and analysis of government efforts towards managing infrastructure inadequacies, this research endeavours to answer the question: What is the potential for utilizing infrastructure investment to enhance economic development in NigeriaIt seeks to show that infrastructure investments are justifiable in the quest for economic growth and robust future economic development prospects for Nigeria. Research Objectives With regard to its overarching theme, this research aims to achieve the following objectives: To assess the correlation between infrastructure development and economic growth To assess infrastructure inadequacies in Nigeria impeding the country’s economic growth and what measures are being taken to address them. To evaluate impact of infrastructure development past and present on Nigeria’s future prospects and economic outlook. Structure of proposal Following is a review of literature which lays the foundation for the subject under study. It is followed by the research Methodology outlining techniques and approaches employed in the conduct of study. Literature review There is general consensus that there is a positive relationship between development in the financial sector and economic growth. While acknowledging that financial institutions provide the means to mobilize and allocate funds in the economy hence enhancing development, Schumpeter, in his 1934 work, did not perceive financial sector development as being the cause of economic development. Later in 1954, Robinson supports this view arguing that the financial sector is a handmaiden of economic development, which is passive and responds to needs in the real sector (which encompasses economic production including manufacturing) and therefore growth in the real economy (Masha et al, 2004). However, McKinnon (1973) and Shaw (1973) argue that the financial sector can be more than a passive handmaiden and a major driver of economic growth if it is relieved of its restraints. With repression, they argue that the financial sector responds passively to the needs in the real-sector and can only d rive economic development if liberalized. It is settled for most research work that there is a definite link, between growth in the financial sector and in the real sector (economic production). In an article in 2005, Asagowa identified close to ten indices of growth and deepening of the financial sector. These include rate of growth of all-encompassing money relative to GDP (diversification of the economy), interest rates spread, and ratio of financial assets to GDP, among others (Babatunde, et al, 2012). Infrastructure is a significant contributor to growth in sectors of the economy such as manufacturing and other forms of production easing and facilitating essential constituent processes. Financial sector reforms and economic development Up until the fourth quarter of 1986, Nigeria pursued a government-led economic development paradigm guided by National Development Plans. The government dominated all sectors of the economy including agriculture, commerce, services (especially transportation), and industry, among others, with the private sector playing a passive role. Since its independence in 1960 and subsequent discovery and exploitation of oil through the 1970s, the government had sufficient resources to finance these development plans to a reasonable proportion (World Bank, 2010). However, poor fiscal discipline consequent to the revenue windfalls deriving from oil saddled the nation with a significant external debt burden. The disregard of other sectors of the economy led to a fall in international trade, and as well resulted in high unemployment rates and slow growth of output. These led the government to rethink its underlying philosophy of development resulting in a shift in paradigm to a private sector-led p aradigm. With this shift came relief of stringent regulations governing every sector which were put up to enhance government control but which impeded the enhancement of performance and growth (Akinyosoye, 2010). In 1984, therefore, a programme was fashioned called the Structural Adjustment Programme (SAP) which attempted to move the country away from direct government control of economic activities to indirect control such as through market forces. This involved widespread deregulation of trade, exchange, finance, among others. However, in spite of the increase in the number of financial institutions and greater variety of financial instruments and freedoms, the real economy showed no marked improvement with all macroeconomic indicators declining three years into the new millennium (World Bank, 2013). The country suffered debilitating external debt, high inflation (highest at 72.8% in 1995) (FMW, 2012: NNBS, 2013), high level of fiscal debt, underemployment and low capacity utiliza tion in industry and agriculture. There was general distress also in the financial sector with high levels of insolvency and non-performing loans (Firzli and Bazi, 2011). Financial reforms have not been entirely successful translating into economic growth to desired levels. In this regard, there is need for aligned pursuit of growth in the financial sector with that in the real sector, which is facilitated by infrastructure development. Herein lay the import of infrastructure development. Infrastructure and economic development Infrastructure is herein defined to include the sectors of transport, water and sanitation, telecommunications, power, among others. In all countries across the globe, this aspect represents a large portfolio of expenditure, ranging from a third to a half of public investment (Akinyosoye, 2010). Given the intense capital requirement and the length of time it takes for benefits to manifest, there has been concern and debate among economic policy makers, politicians and the general public regarding the performance of infrastructure and its impact on economic development (Patunola-Ajayi, 2013). However, AEO (2013) and WEF (2010) among others present a widespread agreement that the inadequacy of physical infrastructure in a country is among major constraints impeding sustained and broad-based economic development. There are various correlations between infrastructure and economic activity. In the short term, the construction phase is associated with attendant decision in the public secto r that could have an influence on macroeconomic variables such as GDP, employment, public deficit, inflation, among others. The public investment thus expands aggregate demand, yielding a boost to employment, production and income (Patunola-Ajayi, 2013). In the medium and long term (the utilization phase), there are macroeconomic effects such as increases in productivity over the territory and in the private sector, as well as its effect on the degree of competitiveness of an economy (ADB, 2012; Foster and Briceno-Garmendia, 2010). Additionally, various benefits derive from infrastructure development. The availability of infrastructure influences the marginal productivity of private capital with investment of public capital in infrastructure in a particular location often attracting additional flow of resources (Akinyosoye, 2010; ADB, 2012). Infrastructure services such as transportation, electricity, and water are also intermediate inputs to production. Public capital invested in i nfrastructure therefore complements private capital and serves to enhance economic development (ADB, 2012; World Bank, 2010). Services thereby generated as a result of sufficiency of infrastructure translate into increased aggregate output. At the microeconomic level, the effect of infrastructure is specifically seen through the reduction in the cost of production derived from its impact on profitability, output levels, employment and incomes (Myers, 2007). This is particularly the case for small and medium scale enterprises. Extensive and efficient infrastructure is critical in ensuring effective functioning of the economy and is an important factor in the determination of the location of economic activity and the kind of sectors and/or economic activities that can develop in a particular economy (Patunola-Ajayi, 2013). There is also the intermediate input for economic development which encompasses higher productivity obtained from improved human capacity development. This can be a ttained through improvements in healthcare, nutrition, education, better roads and transportation, and access to electricity to households as well as telecommunication services which enable the creative engagement of citizens and access to core economic activities (Wilhelm, 2010; Akinyosoye, 2010). On a global scale, and regarding international trade (trade logistics), there is also an impact on the cost and quality of service which determine competitiveness in export and import markets. Infrastructure reduces the effect of distance between regions, enables the integration of national markets, and creates connections at lower cost to markets in other regions or countries (WEF, 2010; ADB, 2012; KPMG, 2012). A remarkable positive effect of infrastructure development has been adduced by models such as the Cobb-Douglas which yield a median value of 0.30. This means that public investment equivalent to 100% of the public capital stock would lead to a 300% growth of private production (Ba batunde, et al, 2012). Investment in infrastructure is therefore among the important mechanisms through which to increase income, employment, productivity, and consequently, the competitiveness of the economy. Infrastructure development in Nigeria Nigeria’s economic growth is largely driven by the capital-intensive oil sector which continues to drive the economy. The average growth of this sector was about 8% comparable to -0.35% for the non-oil sectors (NNBS, 2013). Given its limited job creation capacity, focus on this sector has not translated into sufficient jobs resulting in poverty and disenfranchisement of the greater population and, therefore, the country’s low rank in the Human Development Index (HDI) (NNBS, 2013; The Guardian, 2012). In this regard, King, 2003; FMW, 2012 and AEO, 2013; show that economic growth has not translated into sufficient job creation and/or poverty alleviation with unemployment increasing from 21% in 2010 to 24% in 2011 (King, 2003; NNBS, 2013). The country’s outlook for growth remains positive, though, with an annual economic growth rate of about 8% (KPMG, 2011; NNBS, 2013), and an anticipated GDP growth rate of about 12% in the next five years (NNBS, 2013; AEO, 2013). T his outlook pegs its vision 20:2020’s aspiration to achieve a GDP of $900 billion (FMW, 2012; NNBS, 2013) predicated on improved sectoral performance, the propulsion of a better business environment, and supportive government policies focused on stability in the macroeconomic environment and increased investment. This is however challenged by short and medium term downside risks which include security challenges due to religious conflict in some of its states, slowed global economic growth in major economies of the world and the crisis of the Eurozone (Olaseni and Alade, 2012). There is therefore a great need to diversify the Nigerian economy making it broad-based (both socially and geographically) and to expand the sources of growth. The development of agriculture, manufacturing and services could enable the broadening of growth, creation of employment and reduction of poverty (AEO, 2013). The country is therefore addressing the infrastructure deficit in the country to creat e linkages and to enable such diversification which would enable inclusive growth (FMW, 2012). Infrastructure made a one percentage point net contribution to the country’s improved per capita growth performance in recent years (NNBS, 2013), notably held back by unreliable power supply (Olaseni and Alade, 2012). In spite of the obvious importance of infrastructure to the nation, governments both at the national and local levels have continued to pay lip service to the provision of infrastructure (Financial News, 2014). As a consequence, the country’s growth prospect is undermined. The following section offers a glimpse at some of the country’s major infrastructure inadequacies. Inadequacies in infrastructure developmentUrban housingLack of proper planning and management of rapid urbanization has led to uncontrolled growth in major cities and towns to accommodate an informal economy which stands at 60-70%. This has had a negative impact on the landscapes of urban centres, leading to decay of inner cities, growth of shanty towns especially in peri-urban areas, consequently limiting their contribution to the national economy being inimical to security and good governance (UN Habitat, 2010).TransportThroughout the country, roads are neglected, particularly those connecting major cities, the sea port and commercial centres to the hinterland which are bad and deteriorating. Efforts at repair are often in vain due to the use of substandard materials. Though having the potential to provide a cheaper means of transport, the existing rail network is old and dilapidated, having served half a century after being built by the British colonial government (ADB, 2012). Att empts to procure new coaches or to create new routes have not succeeded. This has fostered the development of a disorganized and unregulated private sector freight and passenger road transport system, which has resulted in traffic congestion in cities, increase in motor accidents, and environmental pollution (UN Habitat, 2010). Given Nigeria’s endowment of waterways and long stretches of coast with potential for transportation, this option, which could ease congestion on roads and aid easier movements, is neglected and the water ways are left undeveloped. There are only a few canoe and ferry routes which are ill-equipped having no good jetties, harbours, safer boats or ferries. The recently refurbished mini-port at Ikorodu, Lagos State provides relief to commuters going through the Ikorodu-Lagos-Lekki road where they now only cross by ferry to Ajah (Akinyosoye, 2010). This is evidence of potential and should be replicated across the country. Transportation of heavy cargo thro ugh waterways can save pressure on roads. There have been recent attempts to improve/ renovate airports which have for a long time remained in deplorable condition, and to address the challenge of adequate capacity. Travelling by air is still expensive in Nigeria compared to international standards with charter options such as helicopter, cargo and passenger planes largely untapped. Air transport has the exceptional advantage in terms of speed, time of travel and distance considerations. It is also of high value in relation to weight and is preferred when accessibility is a challenge (Akinyosoye, 2010).Electricity supplyThough it forms a significant avenue for economic empowerment of the people and country as a whole, the power crisis in Nigeria persists. Irregular supply impedes production and manufacturing and consequently some entities have had to relocate leading to loss of employment opportunities (UN Habitat, 2010). The country currently generates 4000MW which is inadequate co mpared to South Africa’s 34000MW (Olaseni and Alade, 2012). There are however efforts and resources being planned in the medium term towards enhancement of power supply but quite a lot needs to be done given the importance of power in economic development and well-being of citizens who make use of generators for their power requirements (Olaseni and Alade, 2012).Water supply infrastructurePopulation pressure has strained water supply capacity with damaged supply pipes, deteriorating water treatment infrastructure and erratic power supply challenging the supply of safe water to the population. To many, the main sources of water are boreholes, wells, springs, flowing rivers, and brooks whose safety for human consumption is not guaranteed. Poor sanitation and consequent diseases impacts overall health and well-being of citizens and their productivity (UN Habitat, 2010).CommunicationThe emergence of cellular phones has revolutionized the public and private business environment, b ridging communication gaps that hitherto existed. There has subsequently been a reduction in unproductive business trips and an enhancement of transactions. High prices of service and poor reception, inadequate capacity and coverage however need to be addressed for this aspect to facilitate expected economic growth (Financial News, 2014). There is obviously greater need for the Nigerian government and constituent states to develop adequate and effective infrastructure. This requires a more strategic approach to tackle its dearth which has been deemed to constrain the required economic development. There needs to be robust strategic planning, strong political will, as well as the right procurement approach to achieve long term success (Akinyosoye, 2010; AEO, 2013). According to World Bank (2013) estimates, Nigeria’s vision and aspiration to attain middle income status by 2020 requires sustained investment in infrastructure of about $14.2 billion over the next decade which is a bout 12% of its GDP. The current investment is $5.9 billion (5% of GDP) (NNBS, 2013) falls short. Expenditure on food imports is a significant at $90 billion a year (NNBS, 2013; World Bank, 2013) and is unnecessary given Nigeria’s potential in agriculture, taking up resources that could finance infrastructure development (World Bank, 2013). Reducing this bill requires investment in enabling infrastructure such as rural energy, transport systems, telecommunication and irrigation systems. However, much of Nigeria’s impetus for rural development will derive from investments at the level of the State though such infrastructure run by the State and government is prone to low maintenance and support, hindering efficiency and effectiveness (Olaseni and Alade, 2012). Current development of public infrastructure is occurring in tandem with a huge expansion of private sector developments, particularly in the property market (ADB, 2012). Continued urbanization and an emerging mid dle class, as well as a shortfall in quality office space for investor companies are key drivers for this wave of real estate development (KPMG, 2011; FMW, 2012). The success of ambitious infrastructure developments is likely to increase investors’ appetite to expand their operations and capture the anticipated growth, portends significant potential for economic growth (AEO, 2013). MethodologyResearch PhilosophyThis study employs a pragmatic philosophy which embraces both positivism in its opening up and confirming valid causal relationships which can therefore be used for prediction; and subjectivism which appreciates the difference between humans as social actors, with varied views of reality, values and knowledge (Creswell, 2002). Focus in this regard is on observable phenomena and their subjective meanings driving applied research integrating different perspectives to help in the interpretation of data.Study Technique and StrategyGiven the contextual nature of the study and its focus being an attempt to gauge the impact of infrastructure development on Nigeria’s economy, a qualitative inductive approach is deemed to be a suitable approach enabling a detailed exploration of the subject (Quirke, B., 2008). The inductive approach is useful in condensing varied and extensive data into a brief and summarized format while establishing links between researc h objectives and findings obtained (Saunders et al., 2000). This technique involves the exploration of published literature on the subject including government reports, working papers, as well as journals and other relevant literature. This research also employs a quantitative technique in the conduct of interviews in a social survey to targeted experts in Nigeria’s development ministry as well as government leaders in sample states. This would enable the acquisition of information on actual infrastructure investment and development, cross-checked to the particular region by local officials towards the realization of study objectives. This would also enable the acquisition of opinions and information on the actual contribution of infrastructure to increased economic activity in the various regions, and/or the enhancement of life which is a precursor to increased productivity.Practical ImplementationThe targeted experts chosen for the survey include random sample of 20 officia ls in the national Federal Government in charge of oversight of infrastructure development in the country’s 36 Federal States and the administrative areas of the Federal Capital territory and urban councils. This will enable the attainment of a comprehensive view of projects and prospects given that they comprise the control centre for the entire nation, and arebetter placed to notice and to identify increases in economic activity reflected in increase in revenues to Local government areas and urban councils, and tax revenues to the nation state. This survey will take the form of a structured interview administered by the researcher, a method which ensures consistency of results obtained and answers that can reliably be aggregated. Its format is as appears in Appendix: A comprising both closed- and open-ended questions which afford the research the capability to compare and/or contrast interviewee responses in order to answer the research question (Creswell, 2002).Analysis ap proachData obtained from interviews will be analysed using SPSS which enables the production of graphs which would enable the study to show correlations between infrastructure development and increase in economic activity (growth in the real sector) which enables evaluation of its actual or potential impact. A wide and extensive exploration of literature, as well as congruence on the ground as assessed by target experts enhances reliability and validity of data obtained (Creswell, 2002). The choice of a representative sample from across the entire country enhances the study’s generalizability and thereofore its capacity to make comprehensive deductions on the subject (Creswell, 2002; Saunders et al., 2000). Findings showing an increase in economic activities in areas recently served by new or improved infrastructure; entry of medium and large scale investors to locations supported by actual or prospective infrastructure investments; as well as increases in local and federal g overnment revenues signify the contribution of infrastructure investments in increased economic activity engaging the population in the regions and overall expansion in the real sector. These are expected to translate to economic growth and positive future prospects for economic development.Limitations of studyAssessment of the impact and actual correlation of infrastructure development on economic growth might be a challenge given the length of time with which the utilization of infrastructure translates into tangible economic activity and causes observable effect on the country’s economy. Economic growth of a country depends on the interplay of several factors including financial deepening, investor confidence, the encouragement of various economic activities, among other socio-cultural and policy factors. The isolation of the contribution of infrastructure development is therefore a challenge and might affect the outcome of this research.Ethical ConsiderationsIt is imperat ive in research to ensure that the survey approach and activities do not portend psychological or social harm to interviewees. An initial important and significant step is in ensuring that the researcher seeks informed consent from the particular interviewees and as well from their superiors in departments or other actors whose areas of duty and responsibility may be touched by the inquiry. This would ensure that there are no breaches in confidentiality, and also ensures that interviewees are not put in tight spots and forced to discuss sensitive areas and information which may be of psychological harm. The researcher should also be keen to note potential language barriers and cultural practices such as cultural gender power disparities that may impede the smooth progress of the interview and which may also negatively impact the interviewees making them feel incompetent or hindered in their participation. In such cases, the researcher should seek support of interpreters and agreeabl e individuals to help out in the conduct of the interview enhancing comfort and therefore output. Alongside the above considerations, it is also worthwhile to ensure that time set aside for interviews and other activities such as prior meetings is properly consented to both by management or superiors in the relevant departments in which the interviewers are, as well as by the interviewees themselves. This would ensure that the interviews and related activities do not infringe on official or personal schedules, as well as personal, cultural or religious preferences or obligations. The interviewee should also be informed of their right to answer a particular question or to terminate the interview altogether. The researcher in this study therefore in the foregoing will endeavour to obtain proper consent for study survey; respect privacy and goodwill of participants by not asking hypersensitive or confidential information; respect cultural norms and individual preferences of interviewee s; ensure the confidentiality of data collected protecting it from access by third parties, and, to honestly and accurately report information obtained from the survey, avoiding the identification of interviewees if they wish that their identity be waived. Conclusion Reform in Nigeria’s financial sector is inadequate for economic development if the economy is not diversified and if citizens are not engaged in worthwhile economic activity. For the government to achieve this shift there needs to be a focus on infrastructure development, which would encourage private investments, enhance well-being of citizens, reduce existing constraints, and overall increase in economic activity which contribute to economic growth. Further research is required to clearly show correlations between investment in infrastructure and economic growth and future economic prospects. This would enable its effects to be isolated from among other factors such as financial deepening which are also essential for economic growth and development. References African Development Bank, 2012. An Infrastructure Action Plan for Nigeria: Closing the Infrastructure Gap and Accelerating Economic Transformation. ADB Group report Africa Economic Outlook, 2013. Nigeria Economic Outlook. AEO Report Akinyosoye, M., 2010. Infrastructure Development in Nigeria: Roadmap to Sustainable Development. Working Paper Babatunde, O., S., Afees, and O., Olasunkanmi, 2012. â€Å"Infrastructure and economic growth in Nigeria: A multivariate Approach.† In: Journal of Business Management and Accounting Vol. 1(3), pp. 030-039, October 2012 Business Newspaper, 2011. PPP as a tool for Infrastructure Development in Nigeria. 20th October; by Dominic Obuzuwa Creswell, J., 2002. Educational research: Planning, conducting, and evaluating quantitative and qualitative research. Upper Saddle River, NJ: Pearson Education. Federal Ministry of Works, 2012. Road infrastructure and related development in Nigeria: Compendium report. Viewed from: www.works.gov.ng Financial New s, 2014. Nigeria takes step to develop Infrastructure. Article by Sarah Krouse Firzli, M., and V., Bazi, 2011. â€Å"Infrastructure Investments in an Age of Austerity: The Pension and Sovereign Funds Perspective.† In: Revue Analyse Financiere, volume 41, pp. 34-37. Foster, V., and C., Briceno-Garmendia, 2010. Africa’s Infrastructure: A time for Transformation. Washington, D.C.: The World Bank. King, D., 2003. USAID/Nigeria Economic Growth Activities Assessment. Arlington VA: IBM Business Consulting Services KPMG, 2011. Trends in Global Real Estate: Global Issues and Insights. Viewed from: http://www.kpmg.com/Global/IssuesAndInsights/ArticlesAndPublications/Pages/Trends-global real estate.aspx Masha, et al, 2004. â€Å"Theoretical Issues in Financial Intermediating Financial Markets, Macro-economic Management and Monetary Policy.† In: Financial Markets in Nigeria, CBN, Abuja. McKinnon, R., 1973. Money and Capital in Economic Development. Washington, D.C.: The Bro okings Institution Myers, D., 2007. Construction Economics. Wiltshire, Great Britain: Cromwell Press Nigerian National Bureau of Statistics, 2013. Viewed from: http://www.nigerianstat.gov.ng/ Olaseni, M., and W., Alade, 2012. â€Å"Vision 20:2020 and the Challenges of Infrastructure Development in Nigeria.† In: Journal of Sustainable Development Vol.5, No 2(2012) Patunola-Ajayi, B., 2013. Infrastructure Development and Economic Empowerment in Nigeria. The Nigeria Institution of Estate Surveyors and Valuers. NIESV Quirke, B., 2008. Making the connections: Using qualitative research to make research work, 2nd ed., Hampshire: Gower Publishing Ltd. Saunders, M., P., Lewis, and A., Thornhill, 2000. Research Methods for Business Students, 2nd edition, London: Pitman Publishing Shaw, E., 1973. Financial Deepening In Economic Development. New York. Oxford University press The Guardian, 2012. Roads and Rail in Nigeria could be at the centre of Job creation. January 24 UN Habitat, 2010 . Nigeria: Country Programme Document (2008-2009). United Nations Human Settlements Programme Wilhelm, T., 2010. EDC Nigeria Economics [online]. Viewed from: http://www.edc.ca/english/docs/gnigeria_e.pdf World Bank, 2010. Infrastructure at the crossroads: lessons from 20 years of World Bank experience. Washington DC: The International Bank for Reconstruction and Development / the World Bank World Bank, 2013. The World Bank Economic Report for Nigeria. WB World Economic Forum, 2010. The Global Competitiveness Report 2010–2011. Geneva: World Economic Forum

Empress Suiko of Japan First Japanese Woman Ruler

Empress Suiko is known as the  first reigning empress of Japan in recorded history (rather than an empress consort).  She is credited with the  expansion of Buddhism in Japan, increasing Chinese influence in Japan.   She was the  daughter of Emperor Kimmei, Empress consort of Emperor Bidatsu, sister of Emperor Sujun (or Sushu).  Born in Yamato, she lived from 554 to April 15, 628 C.E., and was empress of from 592 - 628 C.E.  She is also known as Toyo-mike Kashikaya-hime, in her youth as Nukada-be, and as empress, Suiko-Tenno. Background Suiko was the daughter of Emperor Kimmei and at 18 became the empress-consort of Emperor Bidatsu, who reigned 572 to 585. After a short rule by the Emperor Yomei, interclan warfare over the succession broke out. Suikos brother, Emperor Sujun or Sushu, reigned next but was murdered in 592.  Her uncle, Soga Umako, a powerful clan leader, who was likely behind Sushus murder, convinced Suiko to take the throne, with another of Umakos nephews, Shotoku, acting as regent who actually administered government. Suiko reigned as Empress for 30 years. Crown Prince Shotoku was regent or prime minister for 30 years. Death The Empress becoming ill in the spring of 628 C.E., with a total eclipse of the sun corresponding to her serious illness.  According to the Chronicles, she died at the end of spring, and there followed several hail storms with large hailstones, before her mourning rites began.  She was said to have asked for a simpler interment, with funds instead going to relieve a famine. Contributions Empress Suiko is credited with ordering the promotion of Buddhism beginning in 594. It had been the religion of her family, the Soga. During her reign, Buddhism became firmly established; the second article of the 17 article constitution instituted under her reign promoted Buddhist worship, and she sponsored Buddhist temples and monasteries. It was also during Suikos reign that China first diplomatically recognized Japan, and Chinese influence increased, including bringing in the Chinese calendar and the Chinese system of government bureaucracy. Chinese monks, artists, and scholars also were brought into Japan in her reign. The power of the emperor also became stronger under her rule. Buddhism had entered Japan through Korea, and Buddhisms growing influence furthered the influence of Korea on art and culture during this period. In writing during her reign, previous Japanese emperors were given Buddhist names with Korean pronunciation.   There is a general consensus that the 17 article constitution was not actually written in its present form until after the death of Prince Shotoku, though the reforms it describes were undoubtedly established beginning under the reign of Empress Suiko and the administration of Prince Shotoku. Controversy There are scholars who contend that the history of the Empress Suiko is an invented history to justify the rulership of Shotoku and that his writing of the constitution is also invented history, the constitution a later forgery.

George Lucas And Movies No Future Essay - 1475 Words

George Lucas and Movies: No Future? nbsp;nbsp;nbsp;nbsp;nbsp;When looking into the future people see many different things. Whether it be flying cars, buildings floating in the air, or people walking around in space suits, everyone has their own idea. Most of the time when people look into the future they look far into it, not in the next several years. The future is usually defined as twenty or more years beyond the present. Many movies and stories written about the future world seem to have the common theme that technology will play a big part in the development of the future. The development of technology will lead to the advances that will take the world into the next century and beyond. George Lucas film THX 1138 and Robert†¦show more content†¦Computers are no longer devices that simplify life for humans; humans are now devices that help computers. nbsp;nbsp;nbsp;nbsp;nbsp;Science has developed a drug that keeps the people submissive and almost with no thought of their own. The drugs take away the humans ability to think and to be creative. Ironically it was those attributes that led to the development of all of that technology in the first place. Humans are no longer allowed to think for themselves. Instead of people controlling the development of technology; technology is now controlling the development of the people. nbsp;nbsp;nbsp;nbsp;nbsp;One of the best scenes that tells about the technology of this movie takes place in the prison. The people who have broken the laws are sent to an area that is totally white. No other color can be scene. They are put into machines and forced to take the drugs and the computer monitors them. Just through several test the entire body of the person can be checked for what is wrong. The person is checked up on like a machine. The computer then decides what to do with the person. When people are treated like machines and not allowed any freedom of thought it is very dangerous to society as we know it. 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