American Pop Art Essay - 2717 Words

Examine the mass medias influence on both the formal and iconographic features of American Pop Art. Centre your discussion on one or two examples each of the work of the following artists: Andy Warhol, Claes Oldenburg, Roy Lichtenstein, Tom Wesselmann, James Rosenquist. Pop Art is one of the major art movements of the Twentieth Century. Characterized by themes and techniques drawn from mass culture such as advertising and comic books, pop art is widely interpreted as a reaction to the ideas of abstract expressionism which preceded Pop in the late 1940s and early 1950s. The decade of the 1960s was perhaps one of the most provocative, in terms of culture, politics and philosophy, of the 20th century. The amazing growth that†¦show more content†¦Campbells Soup Cans as well as Warhols famous Marilyn Monroe, (1962, Leo Castelli Gallery) are silk screened paintings based on the mass produced. These images are often presented in a series by which Warhol repeats the picture a large number of times on the same canvas or on separate canvases. Each image in the series is slightly different from the next one. Warhol utilizes a wide range of color from the monochrome to the vivid and vibrant. In his Campbell Soup painting, numerous rows and columns of red and white Campbell soup cans are painted alongside each other. They are all identical except for the flavor of the soup that is written on each can. Warhols main aesthetic strategies were based on the fashion industry and mass media advertising. This means that he constantly used reproduction and inc essant repetition in the art work. But it was repetition and reproduction without a message. For example, the statement ‘Black Bean on the Campbells soup can is meaningless when it is reproduced in art, which is exactly how mass advertising works and Warhol wanted his artwork to have this same effect. However, Warhols Campbells soup did not only function as an illustration of commercial industry and advertisement, it was an intrinsic part of Warhols life and memories and popular culture. For him the soup represented a feeling of being at home with family. It was what the mass mediaShow MoreRelatedPop Art And Its Influence On American Culture786 Words   |  4 Pagesâ€Å"If Pop art was a from of realism, it was a realism that represented the ways American consumer culture had altered the perception of reality itself. Pop artists imagined themselves confronting a world in which the scale and compass of consumer capitalism, with its near-total saturation of society, exceeded tr aditional perceptual structures (Miller 598). Pop Art movement took place in various cities but mainly in New York in the sixties and became popular within two or three years. 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MeanwhileRead MoreInfl uence Of Consumer Culture On Pop Art1379 Words   |  6 PagesThe pop movement established itself during the rapid multinational corporate American expansion of the late 1950’s to mid 1960’s (Mamiya 1992, 14). Recognised for their study of subjects of popular culture and incorporation of â€Å"commercial techniques.† (Burton 2007, 113), Pop artists embraced â€Å"the culture of the masses† (Wilson 2011, 3). Although the Pop artists remained critically aware of the shortcomings within consumer culture their entanglement with the mentality and techniques of the culture

Potential Personal Liability †A complete solution of Sample

Question: Explain the potential personal liability to Acme Fireworks if a spectator is injured by a stray firework from a fireworks display. Answer: Introduction: In this review, the laws of UCC cover the accidents of the individual enforcing fireworks. The organization Acme Fireworks have to follow the UCC rule to provide measures to the injured individuals. The Acme Fireworks cannot operate as a sole proprietorship. Because they are works on fireworks not only for that every company want a support on their any kind of risk. The Acme Fireworks needed an injury management system for any kind of risk involved in fireworks. They need a support on medical treatment, which could have required for the companys employee or the customers they have. The Common goal of the injury management system is to give protections of their day to day operations, employers maintain closer and regularly contact with their workplace. The employees are actively participates in implementing workplace injury understand that the injury management was a huge thing about a running business, which tends to achieving the best outcome from the injure workers. Involvement of Universal Commercial Code in signing contract: UCC is a set of rules covering the commercial transactions in U.S. and other territories. These transactions consist of money, mortgages, enforceable contracts and the sales of products. UCC is first published in 1952, covering all 50 states within United States of America. This UCC has a goal in case of considering enforceable contracts in an organization. It also includes the exceptions of the common laws in contracts, so UCC is appropriate practicable law in this context. A contract is called enforceable because, the governing authority of the organization will enforce the law abiding the protective measures of an individual. Essential elements of the contract to be followed: Enforceable contract should be a significant part of firework business. The concerned company has to take responsibility for the injured individuals. The necessary provisions of an enforceable contract are the following: Offer: An offer is the willingness of participation of a company into consideration of the contract. This offer can be acceptable or unacceptable to the party depends on the rules and regulations mentioned in that contract. This offer can be presented to the company in different ways like in an email, in a letter to grant the acceptance. Offer should contain: 1. A statement of objectives to be followed by the offering party, 2. A specific proposal to the company with all the regulations, and 3. A communication to identify the offered person. These are the key parts of an offer; if any of these are not present in an offer, then the offer is incomplete and not acceptable. Acceptance: Needless to say that an acceptance is the positive response to the offer of an organization. It is also a final expression of an organization to the regulations of the offer. Acceptance can be made by the person or the agent of the concerned authority. In addition, an acceptance must be made in the mentioned way as per the offer stands. If the party has made any changes to the previous offer then the party should have to counteroffer. There should be no values to the previous offer. There can be a slightest chance of non-acceptance of the changed offer. Parties with legal capacities: Allowing party and organization should create a legal relationship as per the contract. The organization should follow the arrangements to this issue. One exception in this arrangement is a letter of intention that the parties have particularly specified as unbound part of an offer (Musgrave, 2015). In most of the cases, courts find that the legal relation does not include the social and domestic agreements. For instance, two roommates of a hostel are sharing a car; while one is driving and one is fuelling the car, then this is not a good practice of legal relationship. Lawful subject matter: To make a contract enforceable, the subject cannot be forbidden by the law or break public course of action. For instance, a contract for deal of against the law drugs is not enforceable and a person cannot transfer clear title to real assets if the assets are bound by mortgage. This subject matter consists of heads of terms and the commercial participation. This commercialization outperforms the negotiations and signing of state-of-the-art contract. The companies continue their business sharing the money, working in a project, sharing their all resources. Mutuality of obligation: In case of a contract, the authorities must have a common purpose and assembly of mind on the conditions. The parties must agree to the same thing, in the same sense and at the same time. If one party has been misled by the contract, then the contract can be voidable. A review of the communications between of the parties and how they performed the terms are used by the courts to determine whether mutuality of obligation exists. Consideration: Consideration is the very significant part of a contract; it can be money or a guarantee. With this, it may contain moderation from suing on an argument as a part of a disagreement. The considerations are mentioned in an agreement or it must be directed by the rules of the contract. The points of the considerations are: there must be consideration of an exchange and it does not have to assemble any experiment. For instance, as a gift you gave old car to your friend many years before and now you made him compelled to paint your house, then this cannot be a valid consideration for his agreement. To have a proper and legal contract you will need to execute such contract with an individuals signature must be witnessed. Potential liabilities of Acme Fireworks: Acme Fireworks is one of the Australias largest and most dependable wholesalers. This organization should have a potential liability issue according to the laws enforcing the fireworks. This organization should have several protective measures to diminish the rate of accident happened during firework display. First of all, in this fireworks display, organization should ensure the use of legal fireworks (Belanger et al., 2009). There are two types of fireworks such as: legal without permit and illegal without permit. UCC confirms the sale and use of sparklers not exceeding 36 inches, stationary cones foundation, snakes, noisemakers, confetti poppers with less than one-fourth of explosive and others that can spin and move on the ground. The fireworks like firecrackers, roman candles, bottle rockets and mortars are not legal without permission of the government (Bell et al., 2009). This organization should fulfil the permit before displaying illegal fireworks. Acme fireworks should coll aborate with an injury management system to ensure the injured individuals treatment. In this injury management system, there should be a claim form for the persons accident details such as cause of accident, percentage of burn, whether it is fatal or casual, in case any compensation needed and other relevant information. The respective hospital or treatment facility should be provided according to the claim form. In this measure, there is another liability to the company that is the organization should have a team to control crowd in firework display; proper organized crowd can decrease the rate of accident (Mason, 2008). The Acme fireworks should check the quality of fireworks before lighting up. Bad quality fireworks can burst instead of burning completely; stray fireworks burst can damage an entire crowd. The different employment types and relationships relevant to agency law and the advantages and disadvantages of each type specific to Acme Fireworks: The Acme Fireworks have many employees they deal with all kind of fireworks. They export fireworks and firecracker over approximately 40 countries. The Acme Fireworks have many types of employment. The employment of Acme Fireworks categorized in five types: Full-time employment: The full-time employees are having a fix employment position in Acme fireworks. They are usually works 40 hours in a week. They are also pre-scheduled in their workplace (Seker, Ramaswamy Nampoothiri, 2011). Such full-time employees are an accountant, a director and a general manager of Acme Fireworks. The Advantage of Full-time Employment: A full time employee are very much loyalty to development of the company. They are feeling some time that they have ownership in the business. This feeling enhance their skills and the heard working work forces. This result in they are available all time to stand besides the company when they needed (Donelson, 2012). A full-time employee is work with one company therefore; they are very much strong in the sense of security. The Disadvantages of Full-Time Employment: The full-time employment is become very costly in hiring and maintaining such stuffs. The full time employee have many facilities in their work place such as like medical insurance and free vacation for their family. Part-Time Employees: The part time employment is those who work approximately thousand hours in any twelve-month period. The Part-time employees are works for a certain period, who are lunched as complete a mission and they have a target base job. Many times part-time employees are hired for achieving an organizational goal. The Advantage of Part-time Employees: Part-time employees can be an affective staffing option for temporary and small or young businesses. They are hirer for a short period. They are might be a substitution of another full-time worker for a short period. The part time hiring process was varying to the work available for them (Rong-xue Li-jun, 2009). The part time employees are not qualify for company benefits so the cost for this employees are low. The Casual worker or employees: Many people are work as casual worker or employee to the organization. Casual workers are normally paid for the time they are working for the company or the organization at daily basis. The casual employees are have a chance to get more money because they are working as daily basic or hourly. There also a chance to get more awards. The Advantages of casual employment: The casual worker of a company is paid more for their certain requirement. They not only get more money they also have a very flexible work place. Here Acme Fireworks also have some casual workers who are need to complete a huge market requirement of firework (Edwin et al., 2008). This type of worker is gives a quality of service which, has a guarantee of regularly worked. They have a regular income. The Disadvantage of casual employment: In this type of employment, they are work as daily rate. This is a big problem in arranging a personal loan and finance. They are cannot take any holiday as they are wish to. The employee, who works for the company, did not cover with any insurance coverage. Then if this worker getting injured throughout their workplace but did not get any medical coverage. Acme Fireworks needs collaboration: The Acme Fireworks cannot operate as a sole proprietorship. Because they are works on fireworks not only for that every company want a support on their any kind of risk. The Acme Fireworks needed an injury management system for any kind of risk involved in fireworks. They need a support on medical treatment, which could have required for the companys employee or the customers they have. The company have to measure the explosive materials if they are having a report according to their product and they have to take responsibilities for their buyers (GAO MO, 2011). Many organizations or companies have different thinking of injury management system. The Common goal of the injury management system is to give protections of their day to day operations, employers maintain closer and regularly contact with their workplace. The employees are actively participates in implementing workplace injury understand that the injury management was a huge thing about a running business, which tends to a chieving the best outcome from the injure workers. The workplace based injury management gives benefit to everyone. They give workers a better feeling for their security. The injury management system can be implemented by all large business. This means that the worker has a value to the company and company can take care of Health and Safety (Gorski, 2012). A workplace health program introduces a positive awareness and commitment to injury management. Report all Injury: Many work places, will found as incentives for managers to reduce the injuries by getting their injured employees back to the work. The employees are usually known that which conditions will get more involvement in their work environment. A company is driven by the result such as statistics or cost rather then their health and safety. Reporting without Delay: However, all injury are reported but its still not enough. If any employee injure then inform the authority immediately. The management will give a faster recovery solution that results in the worker get well soon and get back to the work as soon as possible (Jian-hong, 2010). The delay in inform to the authority, results in hampering the hole process. If IMS was implemented in an organization then there are no issues regarding to inform the authority. Conclusion: The Universal commercial code proposed a business law model. This model involves the main structures of the business protocol, which make restriction over Acme Fireworks. This restrictions are the company cannot use the illegal fireworks and the also maintain same particles in all fireworks which was previously tested by the investigation authority. The company also asking for lunching any product in the market and attend a pre-testing process by the investigation authority. The UCC was declare that any company contact with them they have to take a permission if any changes they wants to make. The UCC also test all products for all company and it conforms that no other company was able to introduce same product at a time. This is the UCC agreements and their goals. The Fireworks company was collaborates with injury management system. The IMS provides a positively shape the IMS process start to finish. The employee are highly motivates through IMS tram and conditions. The IMS model ca n involve to evolutes the injury of a worker, when he will get back soon. By involving that model a business achieve the highest goal. Refernce list: Belanger, H. G., Uomoto, J. M., Vanderploeg, R. D. (2009). The Veterans Health Administration system of care for mild traumatic brain injury: Costs, benefits, and controversies.The Journal of head trauma rehabilitation,24(1), 4-13. Bell, R. S., Vo, A. H., Neal, C. J., Tigno, J., Roberts, R., Mossop, C., ... Armonda, R. A. (2009). Military traumatic brain and spinal column injury: a 5-year study of the impact blast and other military grade weaponry on the central nervous system.Journal of Trauma and Acute Care Surgery,66(4), S104-S111. Donelson, D. (2012). A BOOMING BUSINESS. (cover story). Family Business, 23(3), 36-40. Edwin, A. F., Cubison, T. C., Pape, S. A. (2008). The impact of recent legislation on paediatric fireworks injuries in the Newcastle upon Tyne region.Burns,34(7), 953-964. GAO, S., MO, W. (2011). On accident rescue in fireworks and firecrackers factory.Mineral Engineering Research,2, 016. Gorski, D. (2012). HIGH Anxiety. Best's Review, 113(3), 64-65. Jian-hong, N. I. E. (2010). Study on safety production core issue of fireworks and firecrackers [J].Journal of Safety Science and Technology,6, 013. Lexington Herald-Leader (2011). Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF). Lynn, I. (2010). Shops Face Prosecution for Fireworks Sales. Mason, S. (2008). Booming fireworks business hampered by new laws. Fort Worth Business Press, 22(25), 25. Musgrave, B. (2015). Higher insurance requirement caused Lexington neighborhood to cancel fireworks display. Rong-xue, S. H. Q. K., Li-jun, W. E. I. (2009). Dynamic Monitoring and Supervision System of Fireworks Production, Storage and Transportation Process [J].China Public Security (Academy Edition),4, 015. Seker, T., Ramaswamy, S. N., Nampoothiri, N. V. N. (2011). Accidents and disaster management in fireworks industries.Technology and Society Magazine, IEEE,30(4), 55-64. Sun, K., Yang, H. (2012). Statistical analysis of dangerous chemical accidents in China.Fire technology,48(2), 331-341. Wisse, R. P., Bijlsma, W. R., Stilma, J. S. (2010). Ocular firework trauma: a systematic review on incidence, severity, outcome and prevention.British journal of ophthalmology,94(12), 1586-1591. www.ilovelibraries.org (2015). Nuts and bolts of enforceable contract [online] Available at: https://www.ilovelibraries.org/article/nuts-and-bolts-enforceable-contract [Accessed on 22 Aug, 2015] www.findlaw.co.uk (2015). Business contracts [online] Available at: https://findlaw.co.uk/law/small_business/business_contracts/500257.html [Accessed on 22 Aug, 2015] Hoffheimer, Michael H. 2013. Conflict Of Laws. New York: Wolters Kluwer Law Business. Rau, Dana Meachen. 2011. Fireworks. New York: Marshall Cavendish Benchmark. Eisenberg, Melvin A, and Melvin A Eisenberg. 2002. Contracts. Chicago, IL: Gilbert Law Summaries.

Your Health and Food Essay Example For Students

Your Health and Food Essay My momma says that alligators are ornery because they got all them teeth and no toothbrush. My momma says that happiness comes from little rays of sunshine that sprinkle down from above when your happy. My momma says thyat Vicky Valencourt is the devil. I disagree, I think shes really great, she helped me play football and I like her. She showed me her boobies and I liked them too. Coach Klein says that what momma dont know wont hurt her and thats why he has roy orbeson tattooed to his behind. He says that the best thing to do is to fake left, no fake right, no dont fake, think about faking then pretend to fake. In conclusion boobies are nice and I like them. Bibliography: We will write a custom essay on Your Health and Food specifically for you for only $16.38 $13.9/page Order now My Momma .

9 Celebrities Who Used To Be Truck Drivers

9  Celebrities Who Used To Be Truck Drivers Ever wonder how they started out? Ever sit behind the wheel of your rig and daydream that you could be famous too? Turns out, some of your favorite celebrities got their start as truckers. 1. Charles BronsonHe won a Purple Heart for his work as an army trucker. This actor from The Dirty Dozen, The Great Escape, and Death Wish  also trained to be a pilot. He’s hardwired to operate heavy machinery!2. James CameronThis  director of Titanic and Avatar  got his start trucking, too. The next time you see a semi on the side of the highway, just imagine there’s an aspiring director behind the wheel, working on his screenplay between miles.3. Chevy ChaseAfter medical school and a jazz band,  he  drove trucks before his first big break on Saturday Night Live.4. Sean ConneryTruck driving runs in his blood. His father was a trucker in Scotland before him, so it came as no surprise when the future Bond, James Bond drove 18-wheelers after leaving the Royal Navy.5. Rock Huds onRemember him? He  drove trucks after World War II, before he hit it big as a rom-com star with Doris Day.6. Richard PryorThis funny guy drove trucks both in Germany and at home before breaking out as a comedian.7. Viggo MortensonThis actor, famous for his roles in movies like  Lord of the Rings, Crimson Tide, and A History of Violence,  mostly worked in Denmark shipyards; but even he did a few trucking jobs in his home country before making it big.8. Liam NeesonThis megastar might never have been famous if it hadn’t been for his truck driving school instructor encouraging him to consider acting. He could have spent his best years as a Guinness forklift operator instead of fighting kidnappers on the silver screen.9. Elvis PresleyThe King of Rock n’ Roll himself  drove trucks after high school to make a living. Some say he even got his signature hairdo from the truck driver fashion of the time.So whatever your dream is, don’t forget how many famous men b efore you got it done while on the road.

Assignment Essay Example | Topics and Well Written Essays - 2000 words - 2

Assignment - Essay Example Some of the continuous changes in the environment these organizations operate in include international competition, increasing acquisitions and mergers, reformations of individual organizations, and technological advances as identified by Dowling & Welch (2004). The implications of these changes on various aspects of the organization vary depending on the individual organization, however, for international corporations that experience the impact of these changing dynamic environments it is necessary to adopt a greater level of flexibility and search for novel sources of competitive advantage. As mentioned above, skills and core competencies are regarded as the key elements essential for driving effective innovation and desired change, and therefore are the major source of competitive advantage (Gratton, 2000). As highlighted by Boxall and Purcell (2003), these changes do indeed qualify knowledge work and employee skills. In tandem, this offers the suggestion that Human Resource Devel opment (HRD) is the core function around which Multinational Corporations (MRCs) succeed and maintain competitive advantage. Although all organizations are bound in such external environments, particular organizational features put emphasis on some important disparities in the role profiles of the people who have been tasked with carrying out the operations in each specific organization. It is widely held that the prevailing competitive environmental condition and appreciation of the significance of knowledge and learning to gain a competitive edge are increase the status and power of the HRD function and lead to the emergence of varied opportunities for HRD professionals (Boud and Garrick, 2001: Carter, Hirsh and Aston, 2002: Harrison, 2006). The increasing challenges manifest in the organizational structure of MNCs lead to the creation of distinctive roles for HR and HRD professionals that are not available in domestic organizations or the national context (Peterson and Thomas, 20 07). This paper therefore discusses the role played by the HRD function in MNCs in an international context concerning the changing environmental circumstances that have been highlighted above. In addition, draws on the conclusion that the role of HRD in maintaining a competitive advantage in a global stage has become greater than ever before, and is mainly influenced by the international factors that come into play. The International Context and the Role of HRD in MNCs The extant surge in globalization has been identified as a central environmental factor that continues to shape the operations of HRD professionals in MNCs across the world. Globalization entails a large quantity of issues such as the growth in international, multinational and transnational organizations’ advances in technology, mergers, acquisitions, ad strategic alliances. Short and Callahan (2005) state that in the quest for organizations to go global or maintain their position at the international stage, t hey are likely to turn to HRD professional to offer advice and support on the most viable strategies and practices to adopt. However, globalization forces the HRD function of such organizations to transform their way of thinking about the nature radically, role and tools of people development in order to remain competitive. The methods, therefore, adopted by the HRD function in MNCs is mainly influenced by the decision of the organization to lean toward international convergence, divergence or to operate as a transnational

Avoiding sexual harassment problems Term Paper Example | Topics and Well Written Essays - 1750 words

Avoiding sexual harassment problems - Term Paper Example The responsibilities and caution requisite for the achievement of an environment favorable for work and studies is one of the high expectations that the society has laid upon all members (Tatiana 2). The golden rules involved in the process of maintaining a sex harassment free zone is a core duty of all the members of the society (Tatiana 2). For instance at the workplaces, every employee holds a legal obligation to keep their working surrounding free from sexual harassment. In situations where such obligations are less taken into consideration or even ignored, Francis (23) offers a stern warning that low output from work, loss of dignity as well as low quality work may result. Coupled with the golden rule of life stating that individuals should always strictly aspire to do unto others what they would also wish to be done to, Kent State University developed an elaborative policy as regards unlawful harassment and the discrimination based on gender, race and tribe, political or even r eligious differences. Keeping in mind that sexual harassment is an act that may not spare an individual for some special reason, employees at all work places should ensure that they fully acquire a proper comprehension of the various forms of sexual harassment (Francis 20). ... As Francis (45) reports, many office managers have also been reported to instill extreme discomfort to the other office users such as cleaners by making sexually explicit statements in their presence. In times of ideological differences that may naturally arise among employees, others may belittle their coworkers by insulting them through using sexist or demeaning arguments in order to silence them. More frustrating is when employees harass the rest of the university workers by posting sexually oriented jokes such as pornographic pictures or videos on the university’s intranet bulletin sites as others also sends electronic mails to their coworkers that contain sexually oriented language (Linda & Hajdin 7). Similarly, in the higher learning institutions such as the universities, more or less similar cases of sexual harassment forms have been reported either from the male or female students against senior staff members such as the university professors and lectures. Workers with in the university are encouraged to beware of all forms of sexual harassment in the entire university community in order to help curb such vises completely. Tatiana (12) reports in his book that even though the act is gender and superiority neutral, most reported cases have been those against female students by fellow male students and the university professors and lectures. As opposed to the fellow student’s forms of harassment, the professors and the lectures resort their power and academic authority to intimidate the female students in favor of sexual pleasure with them (Linda & Hajdin 3). A professor may blackmail a female student by asking them to choose between either to getting an â€Å"A† in their examinations or fail the

ICICI Bank: Porters Five Forces Analysis

ICICI Bank: Porters Five Forces Analysis Contents (Jump to) Introduction Impact of Globalization on Banking Industry Poter’s Five Forces Model Rationale of the Porter’s Five Forces Model in the Banking Industry Threat of New Entrants: Bargaining Power of Suppliers: Bargaining Power of Buyers: Threat of Substitute Products: Intensity of Competitive Rivalry: Introduction to ICICI Bank Impact of Globalization on ICICI Bank Conclusion References Introduction Globalization is the integration of worldwide markets. It changes everything enabling corporations, countries and individual to approach around the world deeper and cheaper never ever before (Freidman, 2005). According to Cato (cited Ervin Smith, 2008), â€Å"Globalization† defines the current inclinations towards the unbound flow of international investment trade beyond borders and the emerging merger of the economy around the world. Globalization hikes development standard of living of the countries that expose themselves to global market as it increased economic freedom and drive competition (Ervin Smith, 2008). ‘Globalization is the merger of historically distinct and separate national market into huge global market. Falling down of barriers to sell internationally’ (Hill, 2012) There have also been changes in the composition of trade and financial flow and trade flow are increasingly made up of intermediate factors of production. Hummels, Ishii, and  Yi (2001) detail the growth in vertical specialization, and Jones, Kierzkowski, and Lurong (2005) detail the rise in fragmentation and outsourcing. At the same time, capital market transactions are an increasing part of international Financial Flows. Lane and Milesi-Ferritti (2007) document the increasing importance of cross-border capital flows since the mid-1980à ­s. Globalization, in brief, is a process of increasing economic integration and growing economic interdependence between countries in the world economy. It is a relative softening up of economic and trade barriers across the countries so as to facilitate a free inter ­flow of capital technology, people, goods and services. Demand and competition in the market has been increased and changed. From production to services each and every sector is looking for international exposure. So many national companies become International in the last decade. Most of U.S. Companies have their Head offices in USA, but all the production work done by Asian countries like China, India and Philippians (Hill, 2012). Impact of Globalization on Banking Industry The banking sector is one of the most important economic sector and most influential and responsive to change whether international or domestic (Kenaway, 2009) The world banking system has gone through many transformations in last decade. There are drastic changes in service as well as technology. There is huge increment and integration of international financial sector. Transformations create the opportunity and challenges for international banking. It also provides the opportunity to expand internationally. Banks come with different changes like high quality customer services and less face to face interaction for example customer can contact with bank through call centre many miles away or when they can buy goods and send the money through online transaction system within minimum time period. Deregulate the banking acts and combines with globalization and integration of financial markets. Create new competitive environment to increase the efficiency of baking services. Increment in competition due to globalization and deregulate should affect on small and large scale banks. After adopting globalization government stopped protecting their local banks, world become a level playing field with survival of the fittest. Due to high competition banks provide best possible services in the most efficient way. Now banks start providing all financial solution to customer. They are providing loan and so many third party cross sell products. Competition made traditional banks come out of comfort level and turn to more effective way to service customers. So many small scale domestic banks merge with big players of industry ‘Many of research studies show that large scale impact on banking industry in all over the world. Due to global competition many of small bank merge with large banks. For example Bank of Rajasthan merge with ICICI BANK in 2010.’ (Business standard.com, 2010) Poter’s Five Forces Model According to Henry A. (2011) Porter’s five forces framework can help organizations to ascertain the attractiveness or profit potential oftheri industry by analysing the relative impact of each of the five forces on their industry structure. (Henry, 2011) The availability of the various players makes the industry so competitive and dynamic. This calls for a need for each individual player to operate competitively in order to sustain its business. The players in the industry need to make a strategic analysis of the industry in order to know the appropriate strategies to be applied in order to sustain the business continuity. One of the useful models in assessing the attractiveness of any industry is Porter’s Five Forces Framework (Porter, 1980) Rationale of the Porter’s Five Forces Model in the Banking Industry The model attempts to address key strategic issues in a wider scope. Many of the issues mentioned in the model, including the forces and the management of those forces, are relevant to the banking sector as well as any other service-oriented business. The results, which will be obtained by the application of this model, should be given the value of the time of the analysis and that a continuous review is necessary in order to avoid to be myopic or obsolete with the results. Michael Porter provided a framework that models an industry as being influenced by five forces (Porter, 1980). Figure 1 provides details of the framework. Fig: Porter’s five forces model (Exploring Management, John R. Schermerhorn, Jr) Threat of New Entrants: According to Hill and Jones (2009) potential competitors are the companies that are not currently competing in the industry but have capability to do so if they choose. The threat of entry of new firms into an industry depends on extent of barrier to entry like economies of scale, capital requirement, government policies, switching cost for buyers, etc. (Kew Stredwick, 2005) To open a new bank, huge capital investment is required. Moreover, there are lots of regulatory issues like government regulations for licensing, etc. Despite of these obstacles, a large number of banks are entering the market so the threat of new entrants should be high. But, due to bank failures and mergers according to FDIC, the number of banks opened from 1977 through 2002 is roughly 215 per year. Trust is one of the biggest hurdles for entry of a new bank. It is difficult for new banks to start up due to involvement of money financial information of other people. People tend to trust big brand names that are well known big banks, which, according to them are trustworthy. Today, banks are providing facilities for serving all financial needs of the customer at one place. Customers tend to allow a major well known bank to look after all of their accounts and financial needs. This centralization further makes it difficult for new banks to enter. As a result, the threat of new entrants is relatively low in banking industry. Bargaining Power of Suppliers Suppliers are the individuals or companies that provide inputs in terms of resources and materials, services etc into the industry (Hill Jones, 2009). The power of suppliers is dependent on Number of suppliers, Brand Power,possibility of forward integration and dependence of customers, etc.(Kew Stredwick, 2005) In banking industry, capital is the major resource and primarily there are 4 suppliers of capital i.e. Deposits of the customer, loans mortgages, mortgaged securities and loans taken from other financial institutions. Through these major suppliers, the bank can meet its requirements like borrowing needs of the customers and at the same time keeping enough money to fulfill withdrawal requirements. The power of the suppliers is widely based on the market and impact of this power is between medium to high. Bargaining Power of Buyers An industry’s buyer may be the individual or end user that will ultimately consume/buy the product of the firm or the companies that distribute the products further. (Hill Jones 2009). Buyer’s power depends on concentration of buyers, alternative sources of purchase, possibility of backward integrations. (Kew Stredwick, 2005) As far as an individual is concerned, it is not a major threat. But, if the cost of switching is higher, then this can affect the power of the buyers. If a single bank looks after all the banking requirements of the customer like savings, mortgages and other financial needs, then it will be a big botheration for the customer to move to some other bank. In order to persuade customers to move to their bank, the entrepreneurs may use different tactics like lowering the switching costs, but most of the customer may still choose to stay with their current bank. The internet has played a vital role in increasing the power of the customer in this industry. Customer can very easily and conveniently compare various banks at almost no cost at all. The cost of opening and maintaining an account as well as the rates offered by different banks can be checked by the customer anytime, anywhere. Threat of Substitute Products The more substitutes a product has, the demand for the product becomes more elastic. Elastic demand means increased consumer price sensitivity which equates to less certainty of profits (Kew Stredwick, 2005). Availability of substitutes of products places limits on the prices market leaders can charge (Hill Jones, 2009) The banking industry is not as much affected by rival banks but the non-financial organizations pose bigger threat of substitution. Although these organizations do not provide deposits, withdrawals, etc, but services such as mutual funds, insurance and fixed earning securities are offered by these companies in much convenient way. Method of payment and loans pose a threat of substitutes, which is relatively higher. For example, dealer who sell costly items like automobiles, ornaments, electronics, etc usually prefer financing expensive items. Usually, these companies give lower rate of interest on bill payment as compared to loan taken from any bank.9 Intensity of Competitive Rivalry Rivalry refers to the degree to which firms respond to competitive moves of the other firms in the industry (Hill Jones, 2009). Rivalry among existing firms may manifest itself in a number of ways- price competition, new products, increased levels of customer service, warranties and guarantees, advertising, better networks of wholesale distributors, and so on Barnat, 2014.) There is very high competition is banking industry. This industry is into existence since hundreds of years and is servicing people since then. Due to this reason, banks need to try to inveigle customers from their rival banks. This is done through lower rates of interest on loans, higher rates on deposits, better convenient after sale services and other investment related services. The basic competition is this industry is to give best services within minimum time period. But due to this completion banks are suffering from lower Returns on Assets (ROA). Due to this nature of the banking industry, there is possibility of more consolidation of the industry. Bigger banks go for acquiring or merging with smaller banks instead of spending valuable money on advertising and marketing. Introduction to ICICI Bank Industrial Credit and Investment Corporation of India founded in 1955 as a joint venture of World Bank. Its parent company is ICICI group. ICICI bank promote in 1994 by ICICI limited and whole subsidiary of ICICI shareholding. It is an Indian multinational bank and financial services provide based in Mumbai. ICICI have global banking operation 19 countries. ICICI Bank Ltd is Indias second largest financial services company headquartered in Mumbai, India. It offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialized subsidiaries in the areas of investment banking, life and non-life insurance, venture capital and asset management. The Bank has a network of 2,533 branches and 6,800 ATMs in India, and has a presence in 19 countries, including India. The bank has subsidiaries in the United Kingdom, Russia, and Canada; branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre; and representative offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. The companys UK subsidiary has established branches in Belgium and Germany. ICICI Banks equity shares are listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE). Impact of Globalization on ICICI Bank To cope with globalization and increasing customer demand, ICICI was one of the new banks to start internet banking, private banking services and mobile banking services and mobile ATM services. Influenced by globalization, ICICI was the first ever bank from India to borrow Currency Units from European countries. With globalization and presence of multiple national and international firms, it was necessary to provide payment facilities through credit cards. Hence with Airtel and HPCL, ICICI bank launched multi-branded credit card to enhance customer base. ICICI has collaborated with Lloyds TSB of UK to make it easy for people of Indian origin living in the United Kingdom to access more branches and ATM in UK as well as India. In terms of profits, there has been a substantial improvement. It was a conscious strategy to pare the size: the bank decided to focus on profitability and efficiency. It has improved the composition of funding by reducing high cost funds. There was growth in international business. The international business which was 25% of the bank’s balance sheet now has come down to 23%. In the UK and Canada, the loan books are flat and in Russia it shrank. In terms of financial performance, ICICI has improved its Earnings Per Share, from 2009 through 2013 EPS has grown from 33.76 to 72.22; an increase of approximately 114%. Also, the net profit margin has risen from 5.63 to 12.94 in the period of past 5 years. ICICI has reduced its total expenses by 17% and increased its income by 15% approximately ICICI had adopted a strategy of aggressive sales and introduced new innovative expansion strategies and launched new different products which attracted the customers. ICICI had also taken over couple of companies which did give a major boost to its business and deposits recently it had also taken over Bank of Rajasthan. ICICI is successful in catering to the needs of its Indian Customers who are overseas (Non Resident Indians) by introducing many NRI services. ICICI was successful in opening many current and savings accounts and increase its deposits and has also introduced savings accounts for children as well. With this kind of exemplary performance and coupled with superb customer service in a very short span ICICI had emerged and successfully became one of the leading private sector banks of India. Conclusion The overall impact of globalization on ICICI bank is good. The net profit margin of the bank has increased by 2.5% annually in the past five years. The business strategy of the Bank has mainly been driven by the increased globalization of the Indian economy, the growing trend of Indian corporate expanding overseas, the large population of non-resident Indians and persons of Indian origin across the globe and overseas companies looking to invest in India. References Barnat R. (2014), Stratigic Formulation, available at http://www.strategy-formulation.24xls.com/ Ervin J, Smith Z.A, Globalization:A Reference Handbook, 2008 Friedman T.L. (2005), The World is Flat Henry A.(2011), Understanding Strategic Management, Oxford University Press p. 81-83 Hill C., Jones G. (2009) Strategic Management Theory: An Integrated Approach, Cengage Learning p. 43-45 Hill C.W. (2012), International business competing in global marketplace, McGraw-Hill Education http://www.icicibank.com/aboutus/about-us.html Hummels, D., J. Ishii, and K.-M. 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