Evaluating Microfinance Research Paper

Introduction In last few years, the randomized program evaluation has become the gold basis for evaluating the development programs and also the bread and butter of many development economists.   The evaluations sometimes uncover the valuable new information, but are contentious, and can also be prohibitively expensive to implement, for small NGO’s. Appreciating how the microfinance affects clients is not straightforward for the reason that there are several possible explanations for why, say, a borrower is doing well as compared to her non-borrowing peers. The credit may be helping–or conceivably the borrower was already comparatively prosperous and would have fared better even without the loan. These new papers clarify cause and effect by performing controlled experiments, in which a few parameters are arbitrarily varied and the effects measured. The idea of ‘experiments’ sounds good because it gives scientific legitimacy to what are in actual fact social phenomena marked by complex correlations, multiple variables, and extraneous and often invisible factors. Let us look at these reports to see just how ‘controlled’ they are. No discussion of microfinance can start without congratulating the recent awarding of one of this year’s Four Freedom awards to Muhammad Yunus. Since 1982 these bi-lateral awards which celebrate the Four Freedoms – freedom of speech and expression, freedom from want freedom of worship, and freedom from fear have been organized in collaboration with the Roosevelt Foundation in Zeeland.   Professor Yunus was given this prestigious award in celebration of his work in championing for the Freedom from want. The United States government’s principal aid agency, the Agency for International Development, universally known as USAID, is the leading donor for microenterprise development.   This aid reaches more than 3.85 million households and entrepreneurs worldwide through the USAID’s support of NGOs, credit union networks, and financial institutions, and credit union networks. America and microfinance Both the Americans and the Dutch, are familiar from their experience in developing countries that microfinance can be successful in that it empowers the poor by creating higher incomes and more jobs, promotes macroeconomic growth and stabilization. It also encourages the economic and social inclusion and also distinguishes that societies face similar challenges of poverty and unrestricted economic opportunity.   But how, then, can both countries use microfinance in the developed market economies to help eradicate poverty in our own countries? This is a noble and complicated question and many of the sharpest economic minds, are applying their expertise and experience to devising more creative solutions.    To appreciate the current microfinance paradigm in the U.S. today, one needs to first distinguish how the market economy influences the development and relevance of microfinance programs.   But while both the Grameen Bank and the U.S. share the goal of alleviating poverty, eac h must meet that the difference of opinion under fundamentally different economic conditions. For the microfinance programs in the U.S. it means competing in the financial market which is dominated by the healthy commercial credit.   Banks and other lending institutions in the United States have been slow to develop the microfinance concepts because they face strong competition, they have lower profit margins, and carry greater risks than mainstream lending practices ( Fuglesang, 243)The very nature of microfinance is the small financial transactions, such as weekly collection, which needs more labor, thus resulting in higher costs per loan for the financial institution. For any institutions seeking profit and financial resources, they are not able to recoup these transaction costs through the higher interest rates which are regularly charged in the developing countries due to American regulations.  But profitability is fundamental to the future growth of the American microfinan ce as it must compete with the more established financial services such as the credit cards and check-cashing which targets those with lower wage earnings.  In addition to the commercial lending infrastructure, the U.S. presents other systemic market challenges to the function and growth of microfinance tools and the business licensing requirements and market saturation stops many of the poor from successfully launching their personal service businesses such as food preparation, childcare, or hair care.   These challenges are firmly entrenched in the American economy and so too, is the American Dream.  The pull of the American Dream is very tough and in response, many microfinance providers label their services as microenterprise and aims at the microentrepeneurs. But sadly, insufficient collateral, poor credit, and the lack of business education can discourage the poor and other minorities from engaging fully in building the American economy better.   The microfinance princ iples supplies the framework for larger economic inclusion of the socially and the economically marginalized. But unfortunately the government’s programs are not big enough to make available the funding for all who applies for it.   In such a vacuum, not-for-profit and private lenders have biologically proliferated and tended to diversify their services, together with the savings, technical assistance, and business training. Currently, there are about 650 organizations that define themselves as involved in microenterprise development or microfinancing.   However, the definitions differ, but in the U.S. the terms most frequently refer to services for a business with five or fewer employees needing less than $35,000 in start-up capital.  Private, for-profit lenders have also stepped in to make available microfinancing services and with the technology now connecting lenders and borrowers, websites such as Circle-Lending and Prosper.com have produced a market for themselves by linking the private individual lenders with borrowers.   Even though these are normally classified as personal loans, they are a creative response to the requirement to finance innovative ideas.  Ã‚   The assimilation into the bigger economy through the small business ownership is an essential pillar for the overall social cohesion since it combats the feelings of alienation and strengthens the feelings of social belonging.   Women report an increased feeling of independence from receiving a business loan from a micro-lender and thus ensuing in running their own business.   This feeling of economic empowerment normally spills into other areas of civic participation, as well as the deepening of the community networks and some increased political integration. But despite the well-developed financial fields in both countries, some groups, mostly recent the immigrants and minorities, still do not have access to the capital they need so as to launch or augment their small bus iness and fully integrate into mainstream markets.   These persons do not want charity, but instead want opportunities and through the targeted loans to the poor, microfinance promises to generate new livelihoods and enhanced capability for self-improvement. In spite of how much developed a country’s economy is, the microfinance tools can often make the difference required so as to move the marginalized persons and families out of poverty and into the mainstream (Bhatt, 345) Social Impact – Profit vs. Development Benefits First, there is an intrinsic tradeoff between microfinance as a business and as a development tool. Microfinance will predominantly benefit one of two stakeholders commercial enterprises and their shareholders, or poor borrowers. So, how might one test this assertion? By evaluating the interest rates presented by MFI’s and asking the following questions may offer a few clues: How do MFI rates measure up to with what a money-lender was offering? And how do they measure up to those of Grameen Bank – which says it can offer lower interest rates by being ‘non-loss, non-dividend’? Is there a trend towards the higher interest rates and the higher the commercial pressure on an organization? Do the banks offer higher rates than independent MFIs, than grassroots NGOs? Did an MFI’s interest rates go up after it partnered with a bank? Have aggregate interest rates gone up over time, as the need to prove development benefits has gone down? This is an essential test, because if true it lets us to categorize MFIs into two groups and then test for development impact across them and it might also show that most MFIs today embrace the rhetoric of a ‘market based development solution’, by ignoring the fact that development benefits mount up only when the solution is priced somewhat below the market rate as set by the money-lender. This is to say that the major benefit of these providers is to develop the market by bringing in external funds, not any development impact, per se ((Adams, 456) Generating Enterprise – Equity vs. Debt My second contention is that microfinance is intrinsically flawed as a tool to create any sustainable enterprise. Studies show that microfinance ends up funding consumption of individuals and this may well be commendable in itself. But if our goal is to create an enterprise for a long-term economic growth how then can microfinance be more effective? The problem is that the incentives of MFIs are not leaning towards generating sustainable enterprise, but they are oriented basically towards the repayment of loans. However, the latter is not an indication of success of the former and one way to generate private enterprise through the market might then be to use the equity, not debt, to fund the micro and small entrepreneurs. So, here is another test. Do these organizations which take equity stakes in micro and small enterprises (MSE) have a better incubation success rate than the microfinance providers? A good example of a success microfinance success is the Grameen Bank which is a Bangledesh organization that gives small loans to the poor and needy families in order to help those families establish themselves. And for its success story, the Grameen Bank and its founder Muhammad Yunus were recently awarded the Nobel Peace Prize on (Fuglesang, 167) Micro lending But is micro finance effective and does micro credit decrease poverty? The Consultative Group to Assist the Poor (or CGAP) points out that investigational evidence documents that micro finance can alleviate poverty, improve the status of women, increase their education, and maternal health. The empirical evidence shows that, among the poor, those who are in microfinance programs and had access to financial services were able to progress their well-being both at the individual and household level much more than those who did not have right of entry to financial services. Particularly they point to the statistical evidence of a spectacular positive effect on poverty. For instance, the Bangladesh Rural Advancement Committee (BRAC) clients increased their household expenditures by 28% and assets by 112 per cent and after more than eight years of borrowing. It was noted that 57.5% of Grameen borrower households were no longer poor as contrasted to 18% of non-borrower households (Ahmed, 45 ) In the city of Lombok, in Indonesia, the standard income of Bank Rakyat Indonesia (BRI) borrowers amplified by 112%, and 90% of households moved out of poverty while in Vietnam, the organization called Save the Children customers condensed the food deficits from three months to one month. And at Kafo Jiginew in Mali, customers who have been with program for as little time as one year were extensively less likely to have experienced a period of acute food insecurity than those that had experienced the food shortage in the shorter period. But those with the need to evaluate the economic and social impact and the appropriately named â€Å"double bottom line† of micro lending CGAP’s need not look far, but in the microfinance organizations. References Fuglesang and D. Chandler, Participation as a Process what we can learn from Grameen Bank, NORAD, Oslo, 1986. Adams, Dale W. , â€Å"The economics of loans to informal groups of small farmers in low income countries,† (Columbus, Ohio: Agricultural Finance Program, Dept. of Agricultural Economics and Rural Sociology, Ohio State University, 1978). Ahmed, M.U. â€Å"Financing Rural Industries in Bangladesh,† The Bangladesh Development Studies, Vol.12, No 12, Special Issue on Rural Industrialisation in Bangladesh, 1984. Bhatt, N. Microenterprise development and the entrepreneurial poor: including the excluded? Public Administration and Development, (1997). 17, 371-386.

Hate, Hate And Hate - 2973 Words

Hate is a harsh word that has been woven throughout the history of this country with such a ferocity that, no matter at what part of history one were to look, there could be found an example of some form of hatred showing through. Such particularly prominent attachments of hate include hate and crimes, speech and race. Hate crimes and hate speech seem to have a strong attachment to race and ethnicity within our country and have therefore been a legal topic for many years. Artist Eden Ahbez said that, â€Å"some white people hate black people, and some white people love black people, some black people hate white people, and some black people love white people. So you see, it’s not an issue of black and white, it’s an issue of lovers and haters.† For many years, hate crimes and hate speech have had a strong relation to the concern for hate crimes and speech intended towards blacks only. However as time has gone on, there have been issues with most every kind o f race within this country. You see, hate crimes and hate speech, they are a usually tied to some form of discrimination, and not only against blacks. There has been a constant issue it seems of discrimination, however it now is not only whites against blacks, but most every race and ethnicity seems to have faced some form of discrimination by now. Discrimination which is defined as, â€Å"differential treatment of an individual or group without reference to the behavior or qualifications of the same† (Clear, 2013) hasShow MoreRelatedHate Crime : Hate Crimes1454 Words   |  6 PagesHate Crimes Hate crimes, two small words with a very big meaning. Hate crimes are happening everywhere, some hit the news, some go into newspapers and others don’t even make it to the point of any social awareness at all. Hate crimes are a targeted attack, one that should not be taken lightly. While hate crime laws infringe on free speech rights, acts of hate should be criminalized because groups of hate crimes have had a huge impact on social behavior for a long period of time, hate crimes victimizeRead MoreHate Speech769 Words   |  4 PagesHate Speech, Should it be Regulated? Hate speech, what is it? The definition of hate speech, according to Mari J. Matsuda, author of Assaultive Speech and Academic Freedom, is Â…(a word of group of words) of which is to wound and degrade by asserting the inherent inferiority of a group (151). In my own words hate speech is a humiliation and demeaning slur of words specifically used to disgrace a person for their race, religion, or sexual habits. There is now a controversy if hate speech shouldRead MoreIs Hate A Crime?1322 Words   |  6 PagesIs Hate a Crime It is 6th period history, the last class of the day, and I am anxious to get out of here to the school bus. So much drama around this school over our Rebel mascot and that ridiculous flag they wear on their helmets and football uniforms. The James F. Byrnes High School Rebels is what we are called since its founding in 1955. I have studied history ever since elementary school and have read much about the civil war, rebel soldiers, confederate flags, and slavery. However, that isRead MoreHate Crimes Essay1417 Words   |  6 PagesCrimes I. Intro-What is a hate crime . A hate crime is when a person intentionally selects a victim because of the race, color, religion, national origin, ethnicity, gender or sexual orientation. A person who commits a hate crime can come from any background and be any race. The term hate crime is meant to differentiate criminal behavior that is caused by prejudice from behavior that is motivated by greed jealously, anger, politics and like. Hate groups differ from one another in terms of membershipRead MoreWhat are Hate Crimes?736 Words   |  3 Pagesunnoticed and not cared about. Hate crimes, a major conflict in communities, have been showing up without anyone noticing. People sometimes commit them unaware of the consequences due to the lack of understanding what a hate crime really is. A hate crime is a motive to hurt or insult a certain group of people. It is more harsh and dangerous than most crimes because it not only affects the victim, but the whole group of that victim’s characteristic. With the undere stimation of hate crimes, murder, assaultRead MoreAnalysis Of Hate Speech1729 Words   |  7 PagesThis paper is a comparative analysis of hate speech laws between Japan and the United States. I will analyze hate rhetoric stemming from the years 1980-to present day. Today s political climate has generated a rebirth of hate speech in both countries. Hate speech is a concern for those who believe in the right to free speech and expression. I will outline the historical background that expands on the usage of technology that incites hateful rhetoric towards targeted groups residing within theseRead MoreThe Issue Of Hate Crimes2025 Words   |  9 Pagesfacing in the world are hate crimes. Despite this being a major issues, there appears to be no solution in sight to put a stop to hate crimes. For this paper I chose to focus on hate crimes I can gain more knowledge about this topic and because it s something that I have personally experienced. Throughout U.S. history, a significant pr oportion of all murders, assaults, and acts of vandalism have been fueled by hatred. As Native Americans have been described as the first hate crime victims, membersRead MoreThe Effects Of Free Speech On Hate Groups, And The Protection Of Hate979 Words   |  4 PagesThe relationship of free speech to that of hate groups, and the protection of hate speech under the first Amendment is a much debated topic of ethics and civil liberties. Although affirmative action protects against discrimination of race, religion, gender, and disabilities, it only protects from discrimination in educational institutions and employment. So how can a society that claims to protect civil rights allow the production of speech that opposes those same fundamental rights?, because thisRead MoreEssay on hate crimes661 Words   |  3 Pages Defining Hate Crimes Hate crimes has become an increasing problem here in the united states ranging from racial hatred to gender discrimination but what are hate crimes? According to Dr. Jack McDevitt, a criminologist at Northeastern University in Boston Hate crimes are message crimes, Hate crimes are defined as crimes that are violent act against people, property, or organizations because of the group to which they belong or identify with. The coined term â€Å"hate crimes† was first used No matterRead MoreThe Fight Against Hate1268 Words   |  6 Pagesto a fence all night in near freezing weather because he was gay. These two attacks sent outrage throughout the country and inspired tougher punishments against hate crimes. (A hate crime is any crime that is committed due to a bias towards a particular group of people.) Currently, forty states and the District of Columbia have passed hate crime laws. Those laws ban any crime connected to bias based on gender, race, origin, sexual orientation, di sability, or religion. Only nineteen of those states

Following Conditional Construction Following Conditional Construction Free Essays

ZERO CONDITIONAL A. Sample sentences If interest rates fall, company profits rise. If prices don’t go up, people buy more. We will write a custom essay sample on Following Conditional Construction Following Conditional Construction or any similar topic only for you Order Now B. Form (condition)(result) If sales increase,we make more profit. ZERO CONDITIONAL C. Uses The sentences of Zero conditional are general facts or things that are always true, i. e. the consequence always follows the event. Statements in this form commonly appear in factual discussions or scientific and technical material. In the condition clause there can be a variety of present forms. †¢When you fly business class, you get much more legroom. present simple)   Ã¢â‚¬ ¢If interest rates are rising, bank loans become more expensive. (present continuous) †¢When you’ve finished the course, you get a certificate. (present perfect). ZERO CONDITIONAL In the result clause there can be a present simple (last examples) or an imperative. †¢When you fly business class, don’t drink too much of the free alcohol. Notice that we can use either if or when(ever) where the meaning is every time. CONDITIONAL   I A. Sample sentences †¢If I do an MBA, I’ll improve my job prospects. †¢If our main competitor goes bankrupt, we’ll increase our market share.B. Form (condition) (result) †¢If you increase your order,we’ll give you a bigger discount. †¢If anyone from Head Officesay I’m in a meeting. calls, CONDITIONAL   I C. Uses 1. In Conditional I the speaker sees the event as a real possibility, i. e. , if-clause is used to talk about future events that are reasonably likely and their results. The if-clause states the condition, and the other clause states the result: †¢If sales don’t go well this year (condition), we won’t increase our profits. (result) With all types of conditionals the if-clause can come second. We’ll make more profit if sales increase. CONDITIONAL   I 2. if and unless Unless often replaces if †¦+ negative expression:†¢If you don’t wear a suit and tie, you won’t be allowed into the club. †¢You won’t be allowed into the club unless you wear a suit and tie. Conditional statements can function as either promises, warnings or threats. But note that unless cannot be used to make a promise. †¢If you order now, you’ll get a free gift. (promise) †¢We won’t be able to do business with you unless you comply with our ethical policy. warning) †¢Unless we receive payment by the end of the week we will be forced to consider legal action. (threat) CONDITIONAL   I 3. In Conditional I, the imperative, or modal verbs can be used in the main clause, e. g. may, can or must, instead of will + infinitive: †¢If you hear from Anne today, tell her to give me a call. †¢If the traffic is bad, I may miss the appointment with our supplier. †¢If we sign the contract today, we can start production at the end of next week. †¢If Mr. Porter rings, you must ask him to leave his number. CONDITIONAL   I 4. We do not use will in the if part of the sentence even when the meaning is future: †¢If the goods will arrive tomorrow, I will collect it. (? ) †¢If the goods arrive tomorrow, I will collect it. (? ) Will is only possible in such cases if it is used to express not future time but willingness or invitations (the style is formal), e. g. †¢If you will sign this agreement, I will let you have the money at once. †¢If you will come this way, Mr. Jones will see you now.CONDITIONAL   I 5. In formal written documents, e. g. egal contracts or agreements, one may find the following conditional construction in Conditional I: †¢Should the agent default on the contract, we will take legal action. †¢Should the unions accept new productivity agreements, the employers will meet their wage demands. †¢Should + infinitive is an inverted construction in place of â€Å"If the agent defaults†¦Ã¢â‚¬  or, â€Å"If the unions accept†¦Ã¢â‚¬ . †¢!!! Note that only should, never would, is used in this way. CONDITIONAL   II †¢Sample sentences †¢If trains were more reliable, more people would use them. †¢If I had as much money as Bill Gates, I would retire.B. Form †¢If you wanted a quantity    you would have to order discount,    at least 1,000 units. †¢If I knew her number,      I would send her a fax. CONDITIONAL   II C. Uses 1. We use the Conditional II to refer to an action or state we imagine, i. e. , the speaker sees the event as a remote possibility: †¢If these machines were not so expensive, we would buy them. (But they are expensive, and we are not going to buy them. ) †¢If he lost his job tomorrow, he would move to London to find another one. (He doesn’t think he will lose his job, but he understands the possible consequences. CONDITIONAL   II 2. It is also possible to use could or might instead of would: †¢If we hired a factoring agency, we could recover our debts more easily. †¢If every piece of mail was personalised with your company logo or message, your customers might be very impressed. CONDITIONAL   II 3. We do not use would in the if part of the sentence: †¢If trains would be more reliable, more people would use them. (? ) †¢If trains were more reliable, more people would use them. (? ) But, in the sentences †¢We would be very grateful if you would send us the information as soon as possible. I would be very grateful if you would put your address on the back of the cheque. would is not part of a conditional tense here. It is a modal verb, and represents a more polite form of will as used in conditional clauses in Conditional I. It introduces the idea of â€Å"yourâ€Å" agreeing, or being willing, to do what is suggested.CONDITIONAL   II 4. In formal written documents, e. g. legal contracts or agreements, one may find the following conditional construction in Conditional II: †¢Were the agent to default on the contract, we would take legal action. Were Alice to apply for the post, she would get it. †¢Inverted constructions are in place of â€Å"If the agent defaulted†¦ † and â€Å"If Alice applied for†¦Ã¢â‚¬ . Conditional II ?What would you say to a friend who asked you which faculty to go to? ?What would you do if you were ?the Prime Minister ?the Dean of the Faculty of Economics? CONDITIONAL   III †¢Sample sentences †¢If I had done an MBA, I would have had more opportunities. †¢If we had anticipated the crash, we wouldn’t have lost so much money. B. Form If the price had been lower,sales would have been higher.If we had made a better offer,we would have won that contract.CONDITIONAL   III C. Uses †¢We use Conditional III to imagine the opposite situation. If what actually happened was negative, we use a positive form, and vice versa. If what actually happened was positive, we use a negative form: ?We didn’t put up our prices (-), so we kept our market share (+). ?If we had put up our prices (+), we would not have kept our market share (-). ?We promoted him (+) and he didn’t give his notice (-). ?If we hadn’t promoted him (-), he would have given his notice (+).CONDITIONAL   III . In Conditional III the speaker recognizes that the event is an impossibility, i. e. cannot be fulfilled: †¢If we had waited a few more months, we would have saved a great deal of money on the new faxes. (But we didn’t wait a few more months; so, we didn’t save money on the faxes). †¢If you had sent the letter by airmail, it wouldn’t have been delayed. (But, you didn’t send the letter by airmail, so it was delayed). CONDITIONAL   III 3. We can use could or might instead of would: †¢The merger could have succeeded if the management styles hadn’t been so different. The presentation might have been better if she had felt more confident. CONDITIONAL   III 4. You may find the following conditional construction in Conditional III: †¢Had we made a better offer, we would have won that contract. †¢Had the shop packed the goods properly, they wouldn’t have got damaged. Inverted past perfect is in place of â€Å"If we had made †¦Ã¢â‚¬  and â€Å"If the shop had packed †¦Ã¢â‚¬ . !!! We do not use would in the if-clause. †¢If the interview wouldn’t have been a success, they would not have given me the job. (? ) †¢If the interview had not been a success, they would not have given me the job. (? ) How to cite Following Conditional Construction Following Conditional Construction, Papers

Evaluate The Cultural Difference Between China And Australia

Question: Discuss about the Evaluate The Cultural Difference Between China And Australia. Answer: In the current scenario, to achieve success the business owners tries to expand their businesses so that maximum profit can be gained in future. It is highly relevant for all the people to know the important consequences and outcome prior to start a business in different country. Mary, the owner of The Aroma Shop deals with varieties of chutneys, sauces, jams and pasta situated in Australia. It is highly important to identify the business etiquettes present in China before expanding the business. The essay will evaluate the cultural difference present between the two countries China and Australia. By doing so Mary would be able to get an idea if establishing her condiment business in China would be expandable or not. The nation has enormous population that have huge cash to spend and very debt. There are various cultural factors that should be in mind before making a strategy carrying the business activities operating outside the countrys border (Nyambegera, Kamoche and Siebers 2016) . Hofstedes model of cultural dimension would help in distinguishing the cultural difference between the countries. The culture dimensions represent the preferences of relating to one state of affairs with other countries that differences nation (Laitinen and Suvas 2016). The countries scores on the different dimensions are different due to the difference in personalities of the people. The Hofstedes model is made of six main dimensions. These are power distance index, masculinity versus femininity, individualism versus collectivism, uncertainty avoidance index, indulgences versus restraints and normative orientation (Eunson 2005). The power distance index (PDI) showcases the major fact that the people present in the community are unequal. It is the extent to which less powerful people of a company in the nation accepts and also expects the fact that power is unequally distributed. PDI rate in Australia is very low and the superiors relations with the firm are accessible. The superiors in the firm mostly depend on the team and people for expertise. The communication in the firm is also informal, participative and informal in nature. Whereas, in China the PDI rate are high as the society in China believes that inequality among the people is acceptable. The relationship between subordinate and superior is highly polarized (Engle and Nash 2015). The subordinate does not make any kind of defense against their superior and abused power. The people in China are influenced by the formal authority and sanctions. They are used to attend the meeting and business seminars in a hierarchical order for giving them respect. The first one to walk inside the meeting is the head of delegation. Therefore, it is advisable that Mary should show respect as in China people are not acknowledged by their names in China. Mr. Lau should be called with due integrity and respect. Title of courtesy is also given as regards to respect to the people in China. Mary should also be careful while using the words such as comrade. If Mary will use any Chinese words while doing the business than it would be appreciated by Mr. Lau. It is important for Mary to learn all these things to make the business process smooth and cordial. Individualism is the degree of interdependency that would help the community to maintain their relation among themselves. In collectivism environment, people are also defined as a group that guide each other as well as creates loyalty. In Australia, there is high rate of individualist culture with a score of 90. The people are expected to be very self-reliant and display initiative in the business world (Beugelsdijk, Maseland and Hoorn 2015). On the other hand in China, there is high collectivist culture with a score of 20. To do condiment business in China Mary should also emphasis on the overall group interest instead of individuals interest. It is important for Mary to keep a calm composure to do business in China. Mr. . Lau being a fifty year old man is also expected to very disciplined and sophisticated. Therefore Mary should be well-prepared for the meeting and make it successful. It is vital for Mary to use kind words and try to make the business deal as successful as possible . Gifts are not accepted positively by the Chinese people, therefore Mary should not carry any kinds of gift but make small talk with Mr. Lau before commencing the meeting. High Masculinity score means that the society s mostly driven by the rate of success and achievement. While low score on feminine approach means caring for other people and quality of life. China is a masculine society with a score of 66 and in Australia, the score is 61 and the people are proud of success and achievements (Putnam and Gartstein 2017). The masculinity score is always high in both the nations. In both the countries people are proud of their success, therefore it would not be a much problem for Mary to deal with the situation. Uncertainty avoidance is the process in which the society to deals with the important fact that future is uncertain. The uncertainty avoidance score helps in evaluating the fact that people of the respective culture therefore feels threatened by unambiguous and unknown situations. Australia has a score of 51 in this dimension while China has a score of 30. These people are also comfortable with ambiguity and the meaning is also difficult to follow for the individuals belonging from the rest of the world. The employees in China are very attentive and follow a disciplined timetable to be followed in the businesses (Mazanec et al. 2015). Greetings are also important and should be practiced in a very polite manner in the country. Handshakes are also common in China, therefore it is important that the gesture should be started by Mr. Lau. Long-term orientation is the procedure through which the society maintain the link in the past and should also deals with future and present challenges that is to be faced. In the normative society, the cultural dimensions are very low that views the changes in society with suspicions. The high cultural score means a pragmatic approach and should also adopt as per the tradition of the nation. China has a pragmatic approach with a score of 87 and the normative culture and should a maintain a score of 87 (Vitell et al. 2017). Mary should also be careful enough not to be use strong statements in negative manner that could lead to create an unfavorable impact on the business . Rather than using words such as no and instead use alternatives such as later on, may be and think about it. Similarly, if Mr. Lau thinks that there is no problem than Mary should be careful enough to analyze the problem as it means that there are various problems. Therefore, Mary should try to sort out the problem as soon as possible. Indulgence is the degree to which, the people would try to control their emotions and desires. Existence of weak control in the society is called restraint , therefore the culture is known as Indulgent and restrained. Australia is an indulgent country with a score of 71. On the other hand China is a restrained society with a low score of 24 in this cultural dimension. In China, which is a restrained society they does not focus on leisure or free time . The people living over there control their desires. While Australia, which is an indulgent country, the people mostly gives importance to spend time as per their wish. Therefore Mary should be well prepared and maintain a controlled and calm body posture. Punctuality is given very importance in China so Mary should be punctual to make the business deal with Mr. Lau. The dress code should be conservative suits and not any bright colors as it would be considered in appropriate (Kim 2017). Hence Mary should practice effectively the Chines e etiquettes to practice business in China as it is a restraint society. The essay therefore successfully showcases the fact that Mary should prepare beforehand and implement proper measures to establish the business in China. Chinas culture is completely different than from Australia. In China the individuals tries to maintain a cordial relationship with the client while making any kind of business deals. Mary has to maintain proper composure while doing the business and thus creating a positive impression. Chinese people also like to extend the deadlines so that they can gain competitive advantages.. Mary should definitely expand her business in China and also should maintain smooth relationship with Mr. Lau. The cultural dimensions between the countries are different. Therefore practicing few useful business etiquettes should help Mary to make the business dealing successful in an entirely different country. References: AlAnezi, A. and Alansari, B., 2016. Gender differences in Hofstede's cultural dimensions among a Kuwaiti sample.European Psychiatry,33, p.S627.] Beugelsdijk, S., Maseland, R. and Hoorn, A., 2015. Are scores on Hofstede's dimensions of national culture stable over time? A cohort analysis.Global Strategy Journal,5(3), pp.223-240. Brouthers, L.E., Marshall, V.B. and Keig, D.L., 2016. Solving the single-country sample problem in cultural distance studies.Journal of International Business Studies,47(4), pp.471-479. Engle, R.L. and Nash, B., 2015. Does it matter if researchers use individual dimension constructs or only aggregated constructs of cultural distance and cultural intelligence?.Journal of International Business Research,14(2), p.47. Eunson, B., 2005.Communicating in the 21st Century. John Wiley Sons Australia Ltd. Farivar, F., Cameron, R. and Yaghoubi, M., 2016. Work-family balance and cultural dimensions: from a developing nation perspective.Personnel Review,45(2), pp.315-333. Kim, S., 2017. National culture and public service motivation: investigating the relationship using Hofstedes five cultural dimensions.International Review of Administrative Sciences,83(1_suppl), pp.23-40. Laitinen, E.K. and Suvas, A., 2016. Financial distress prediction in an international context: Moderating effects of Hofstedes original cultural dimensions.Journal of Behavioral and Experimental Finance,9, pp.98-118. Mazanec, J.A., Crotts, J.C., Gursoy, D. and Lu, L., 2015. Homogeneity versus heterogeneity of cultural values: An item-response theoretical approach applying Hofstede's cultural dimensions in a single nation. Tourism Management,48, pp.299-304. Minkov, M. and Hofstede, G., 2014. A replication of Hofstedes uncertainty avoidance dimension across nationally representative samples from Europe.International Journal of Cross Cultural Management,14(2), pp.161-171. Nyambegera, S.M., Kamoche, K. and Siebers, L.Q., 2016. Integrating Chinese and African culture intohuman resource management practice to enhance employee job satisfaction.Journal of Language, Technology Entrepreneurship in Africa,7(2). Putnam, S.P. and Gartstein, M.A., 2017. Aggregate temperament scores from multiple countries: Associations with aggregate personality traits, cultural dimensions, and allelic frequency.Journal of Research in Personality,67, pp.157-170. Samaha, S.A., Beck, J.T. and Palmatier, R.W., 2014. The role of culture in international relationship marketing.Journal of Marketing,78(5), pp.78-98. Vitell, S.J., King, R.A., Howie, K., Toti, J.F., Albert, L., Hidalgo, E.R. and Yacout, O., 2016. Spirituality, moral identity, and consumer ethics: A multi-cultural study.Journal of business ethics,139(1), pp.147-160.