Comprehensive service delivery plan Case Study Example | Topics and Well Written Essays - 1250 words

Comprehensive service delivery plan - Case Study Example The plan is expected to facilitate Sunny in obtaining assistance from authorized agencies, which could provide her with adequate parental education, medical care and adaptive equipment. Through this plan, attempts have been taken to assess Sunny’s potential strengths and her needs towards Assistive Technology (AT) and Augmentative Communication (AAC) abilities to help her succeed in her education. In addition, adequate information has been provided about the responsibilities of parents, guardian, friends, classmates and educational specialists towards Sunny in the plan discussed henceforth. This comprehensive service delivery plan outlines access to appropriate agencies that could provide parent/guardian support, owing to the fact that the role of family in medical care of a child is crucial. The professionals of ‘American Academy of Pediatrics’ also focus towards the recognition of a family, as family members are child’s primary source of health and support. In addition, informing parents or guardians of Sunny regarding her care needs and thereby, obtaining their support as a principal collaborator in care coordination is linked with the achievement of improved health results. In the US, special firms, such as Catholic Guardian Services, have been observed to provide parenting education and support services for the welfare of disabled children. One such organization is Federal Office of Special Education, which governs the norms of Individuals with Disabilities Education Act (IDEA). IDEA provides principle grants to various states, targeting the hi gher educational institutes and other non-profit organizations to deliver technical assistance, personnel development and parental training in the interests of disabled children. In this regard, Partners in Policymaking has been a pioneering and capability based headship curriculum for adults and parents of young disabled children (Arizona

UNIT 2 INDIVIDUAL PROJECT 2 Essay Example | Topics and Well Written Essays - 500 words

UNIT 2 INDIVIDUAL PROJECT 2 - Essay Example rt from the external short and long-term creditors of the company, the investors and lender’s interested in a company consider ratios as an important indicator for decision making. The investors look to measure the capacity of the firm to provide them with adequate return on their investment. Similarly banker’s who look to lend money or advance money to any firm would use the below ratios to assess the capacity of the borrower firm to repay the debt. As we know the primary purpose of every firm is to maximize shareholder’s wealth. The bottom line of the company is the prime focus for both the management and the external investors / lenders of the company. Thus, the net profit ratio helps us understand the percentage of net profit after all expenses to the total revenue of the company. It is an indicator of how well the company’s management has worked not only towards accelerating revenues, optimizing costs including cost of borrowed funds but also providers the owners an understanding that there would be adequate return on their capital employed. A higher net profit would mean adequate returns to the shareholders and the lenders. â€Å"Debt-Service Coverage Ratio† is an important ratio for every banker or lender who is looking to finance or provide funds as borrowings to the company. This ratio is indicative of the capacity of the company to make enough earnings before tax to ensure that the loan is being serviced. In other words, the ratio (if above 1.5) indicates that the organization makes enough earnings to repay interest and principle payments of the funds borrowed on a monthly basis. Indeed, the banker or the lender considers this ratio as a prime indicator of the capacity of the firm to repay back the debt that they fund. ROCE is one of the important ratios used to understand the return on investment or capital employed. The term capital employed means long term funds supplied by creditors and owners of the firm. This ratio helps in measuring or

Cloud security, DATA LOSS and HIJACKING Literature review

Cloud security, DATA LOSS and HIJACKING - Literature review Example Users can upload and access uploaded pictures, documents, music files. www.dropbox.com cloud computing site offers possible free 18 gigabytes of memory to its users (Blaisdell, 2012). Further, the users of cloud computing can choose between public or private computing types. The public computing type allows anyone to access the data saved in the remote server (Howell, 2012). Under the private type computing, unauthorized persons are not allowed to access the data saved on the remote server. The term cloud equates to being invisible. Cloud computing entails outsourcing data storage to another location, cloud (Shor, 2011).The cloud is user-prioritized, filling the computing needs of the users (Gillam, 2010). The persons using the cloud service do know the hardware or software used by the cloud service providers. Likewise, the cloud service clients do not know where the files are saved, the location of the cloud service providers being â€Å"hidden† from the cloud service users. People using internet –capable cell phones, tablets, and computers can save their files in the cloud computing sites. They can then access their files from the cloud server sit es from any available computer, tablet, or internet- capable cell phones. Consequently, the users of the cloud computing sites do not need unnecessarily high gigabyte capacity memory cards or drives to save their huge files on their cell phones, tablets, or computers. To ensure high quality cloud computing service, data loss and hijacking must be reduced to allowable levels. In addition, the above picture shows how the basic cloud computing setup works. One cloud computing person can access the same files from the same cloud computing site from a tablet, cell phone or any computer terminal. Some cloud computing sites offer either the free or paid membership its users (Jamsa, 2011). One cloud computing service provider offers the file saving privileges to many clients.

Energy Conservation In Commercial Hostel Engineering Essay

Energy Conservation In Commercial Hostel Engineering Essay Electrical energy is the most expensive and the most important form of purchased energy. The subject of energy conservation is a concern for most energy users particularly industries, commercial buildings and residential buildings. Energy Conservation becomes even more important for the developing countries, where the rising energy costs and the use of efficient energy apparatus are of significant concern to the utility. Today, energy and environment are two areas that have sought the greatest attention at the international level. With the issue of global environment, becoming important as never before, Energy particularly its conservation in industry and commercial building has become main target for all the parts of world that has to be achieved as soon as possible. In this paper, the application of the Energy conservation techniques by which electrical energy can be saved and made cost efficient for commercial (hostel) building perspective is presented. The selection of a commerci al (hostel) building was done because electrical energy constitutes only a major amount of the overall energy used. A complete energy conservation guideline is recommended. Electrical energy management approach for tariff control, power factor control, motor schedule control and lighting is outlined. Recorder data of energy consumption of a building service system are used to diagnose the weak points of the building energy usage system and then a detailed energy audit study are presented. Key Words: Energy audit, Energy Conservation, tariff control, motor scheduling 1. INTRODUCTION Electrical energy is the most common and widely used type of energy in the world. It is the most expensive and most important form of purchased energy. For this reason its use must be confined to a minimum for efficient operation. Because of its great flexibility, it offers many advantages over other energy and by doing the efforts to conserve energy can result in significant cost saving. In India, Commercial buildings use large amount of energy that is why, it is important to ensure a loss free and energy efficient system in buildings. In the developing countries where electrical energy resources are scarce and production of electricity is very costly, energy conservation study are of great importance. India is an important stage of rapid development and it has relatively shortage of energy resources. The gap between the power generation and required demand is increasing continuously. Reducing the gap in the generation side is very difficult and more expensive process. The cost of e lectrical energy will be increased due to the installation of new generating plant because of limited energy resources, scarcity of capital and high interest costs. The important way to reduce the gap between demand and supply is energy conservation. Energy conservation is necessary to reduce the increasing global warming. Individuals and organizations should conserve energy in order to decrease the energy costs and increase the economic security. The following two objectives are considered when discussing electrical energy conservation: Energy saving i.e. kWh saving Energy cost saving i.e. money saving 2. LITERTURE REVIEWS Frank kreith, D.Yogi Goswami (2008), have declared that energy is the important factor for production, along with labour, capital, and materials. Energy conservation denotes doing without, maybe giving up facilities to save energy. Due to products diversity and the manufacturing process requirement, the efficient utilization of energy varies with specific industrial operations. The organization of personnel and operations, concerned also varied. Consequently, each company should modify the effective energy management program for its plant operations. There are some universal guidelines, however, for initiating and implementing an energy management program. Many of the large companies have already used energy management programs and also they have realized substantial savings in fuel and electric costs. But in small industries, due to lacking of technical persons and equipment to implement the energy management program is difficult. In these environments, reliance on external consultants may be appropriate to initiate the program. But for successful operation internal is very essential. A well planned, organized, and executed energy Management program requires a strong commitment by top management [8]. Wood.G, Newborough.M (2007), have proposed that the suggestion for motivating energy saving behaviors [9]. Dimoudi.A, Kostarela.P (2009), have shown the energy consumption of Institutional buildings, due to their high number in the country, contribute to a considerable overall amount of energy consumption in public buildings that results in an increase of the expenses paid by the national budget. Thus, investigation of alternative solutions for the reduction of energy consumption in Institutional buildings is advisable and necessary. On the other hand, the pedagogic role of Institutional buildings needs the proper regulation of the parameters that influence the internal conditions in classes, as lack of thermal comfort and air quality conditions reduce the learning ability of pupils. Thus, an energy proficient strategy in school buildings has a dual purpose: energy conservation and enhanced indoor conditions in classrooms. Air quality studies performed at institutional buildings revealed that many of them have serious indoor air quality problems, while improvement of indoor Conditions are associated with considerable reduction in energy consumption and a global environmental quality. Improvement in thermal insulation decreases energy consumption, with the Case of insulation at the support frame having the highest benefits, resulting a reduction in energy consumption by 13.34%. Increase in the thickness of the wall insulation decreases the heating requirements and thus, reduces energy consumption up to 5.58%, a solution that is recommended for new and old no insulated buildings [10] . Guozhong Zheng, Y Ouyin Jing, Hongxia Huang, Guohua Shi, Xutao Zhang (2010), have shown that globally one-third of energy consumption is consumed by building sector. In energy conservation assessment, energy conservation star rating is established and used in the assessment. The objective of building conservation assessment is to establish and limit the maximum energy consumption in buildings and to encourage the utilization of renewable energy and new energy technologies and products [11]. 3. ENERGY AUDIT CONSERVATION As per the Energy Conservation Act 2001, Energy Audit is defined as The verification, monitoring and analysis of use of energy including submission of technical report containing recommendations for improving energy efficiency with cost benefit analysis and an action plan to reduce energy consumption . Energy Audit will help us to identifying the areas where energy wastage can occur and where scopes for improvement exist. To test electrical systems and identify conservation opportunities, the following steps must be carried out: Form Energy Survey team Carry out Preliminary Energy Survey Carry out Detailed Energy Survey The energy survey is the first step in collecting all the relevant data and after which the conservation techniques are to be applied. Data must be obtained for each type of energy used. Also the actual measurements of the various energy devices such as motors, lighting system and ceiling fan etc should be included as part of the energy survey. The energy survey team has the task to explore the potential areas of energy conservation based on the findings of the survey. This could involve energy management with motors, lighting system, tariff control and power factor management, the use of energy efficient devices, the possibility of cogeneration and the use of technical awareness and motivation programs for the industry personnel. How best to manage our energy consumption? We have four steps to manage best energy consumption in any organisation. These are listed as follows: Metering your energy consumption and collecting data Finding opportunities to save energy, and estimating how much energy each opportunity could save Tacking action to target the opportunities to save energy (i.e. tackling the routine waste and replacing or upgrading the inefficient equipment). Typically youd start with the best first Tracking your progress by analyzing your meter data to see how well your energy saving effort work The above four step process applies either way, its entirely up to you whether you consider you consider energy saving measures that involves buying new equipment or upgrading building fabric. In energy audit process we need to collect statistical data and finding the opportunities to save energy. But just finding the opportunities to save energy wont help us to save energy. We have to take action to target them. 3. ELECTRICAL ENERGY CONSERVATION FOR A HOSTEL BUILDING Background: In India, there are many institutes which have the hostel facilities. My institute is one of the best institutes in Haryana state. It has 10 hostels. In this paper energy conservation of one hostel is presented. By similar manner we do energy conservation of other hostel. This hostel was open for student use in 2002. 4. ANALYSIS AND METHODLOGY The objective here is to study and analyze the use of Electrical energy in the hostel building so as to; Determine the energy inputs to the various stages in the process carried out in the industry, thereby arriving at the energy content of the major products, and in particular identifying the process stages for which the largest amount of energy are needed. Decide where the most significant energy savings are possible, quantifying such savings and the cost of achieving them. Assist the industry administration in making recommendations on energy savings and in its policy and plans for energy conservation. A: Reduce fixed charges in Electricity Bill. To analyze the utility electricity bill, the tariff structure was studied. The tariff structure in Haryana state consists of the following charges: Energy (kWh) charges (varies as consumption increases) Fixed charges depend upon maximum demand Fuel adjustment charges (consumption dependant) B: REPLACE INEFFICIENT MOTORS WITH ENERGY EFFICIENT MOTOR AND CHANGE OPERATION SCHEDULE The average operating efficiency of the motor was very low and thus need to replace them with the energy efficient motors could improve energy savings significantly. The energy cost savings by replacing an old motor with an energy efficient motor is given by the following formula S = P*L*C*T (100B 100/A) Where S = Annual savings ($/year) P = kW rating of motor B (old inefficient) =15 kW C = Average Electricity cost ($/kWh) L = load factor (avg) =.80 T = running time (hour year) A = Efficiency of motor A (New EEM) B = Efficiency of motor B (Old inefficient) The efficiency of old motor was 75% and efficiency of new motor is 90%. The motor operate in a day is 7-8 hr. Then total operating period in a year is 2800hr. Total cost saving: Using above formula, the total cost saving is R 26133.33 Total investment cost: The total price of new Energy Efficient motors of the rating given above was to be found to be R 24000. The payback period and return on investment is 11.02 month. Operating schedule suggestion: Motor operate mostly in peak period so operation cost is high. We need to operate in off period it reduce the operation cost. C: Change lighting system. The existing lighting scheme at the hostel building was studied carefully and measurements were taken for each light levels and fixture ratings. A new scheme with consideration to maintain or enhance the existing lighting levels and reduce the kW rating was presented. The existing system of incandescent and mercury lighting was found to be consuming extra energy at the expense of lighting level. It was suggested to increase the light level while at the same time reduce the overall energy consumption. Existing system Proposed system Saving in kWh Incandescent 300 fixtures 100 watt each 1100hr/year Florescent 300 fixture 20 watt each hr/year Calculations: Kilowatt saving: This is calculated by the formula given by = (No. of fixture) [(present input watts/fixture)-(proposed input watt/fixture)] =watt/1000=KW KWh saving: This is calculated by the formula given by = (KW saving)*(annual operating hour) =kWh/year Power Factor Improvement Findings: The average power factor of the hostel varies between 0.85 and 0.87 since its commencement, which was well above the requirement of the SEB. The average power factor of the industry was 0.86 and the Maximum demand reached has been read as 260 KVA from the Load duration curve. The load level reached above the sanctioned demand of 260 KVA on certain short period of time was not considered for the power factor improvement project. So, at the average power factor, the load in KW was found to be 260* 0.86= 223.6 KW. Recommendations: We decided to improve the power factor to an average value of 0.98. The best locations for the capacitors were identified as i) at the sub-station itself to compensate the base load and ii) at the loads supply side as per the KW capacity, So that only when the load is on, the capacitors will be on. Additional capacitors were required to improve the power factor to 0.98. Benefits: For a load of 223.6 KW, the KVA demand at 0.98 power factor is (223.6/0.98) =228.16 Therefore, saving in KVA is (260 -228.16) =31.83 Annual saving in cost due to KVA reduction= $3.75*31.83*12= $1432.65 Cost on additional capacitors @ $35 per KVAR is $(30* 50) =$1500 Payback period (1500/1432.65)* 12= 12.56 say 13 months. Return on investment 1/13= 7.7% per month. Saving Through Peak Shaving As per the norms of the SEB, the maximum demand charges for any month at the point of supply shall be based on the highest KVA demand recorded during any consecutive thirty minutes in that month or 100% of the sanctioned demand, whichever is higher. In addition, for exceeding the sanctioned maximum demand, the charges per exceeded KVA shall be at double the normal rate (say penalty). Findings: The Maximum Demand during the financial years 1995-1996, 1996-1997, 1997-1998 and 1998-1999 has exceeded the Sanctioned Demand in March and April, due to the early summer peak loads, and the production target initiative at the beginning of the financial year. During the EC project period (1998-1999), the peak demand was found to be 2750 KVA. The industry did not want to apply for increased Sanctioned demand since for the rest of the period of 10 months, the load was well within the Sanctioned demand. It was noticed that the available Diesel generators were used only at the time of power-cut and at grid failure cases. Recommendations: The EC team recommended for the use of one 900 KVA Generator at the time of peak loads during 1998-1999 and to transfer the excess loads to the generator supply so as to avoid the excess KVA penalty charges. If critical loads also contribute to facility peaks, consider shifting these loads to generator power during peak periods. In case, if emergency backup power is needed, the remaining two Diesel Generators shall be put in service even during peak periods. Note: For the present project, the concept of Peak shaving was applied only for the loads exceeding the Sanctioned demand and not for all the loads above the base load. Benefits: Considering the peak demand during March-April of the financial year 1998-1999, i.e., 2750 KVA exceeding the Sanctioned demand by 150 KVA for duration of 3 hours/day: SEB Supply: Maximum demand charges payable to SEB/month $3.75 (2750 +2 *150) = $11 437.5. Energy consumption charges/month for a load of 2750 KVA at 0.92 power factor @ $0.0875/kWh is $159 390. Total charges payable/month is $170827.5. Generator Supply for a Load of 150 KVA: Maximum Demand charges $3.75* 2600= $9750. Energy consumption charges/month for the energy fed by SEB for a load of 2600 KVA at 0.92 power factor @ $0.0875 per kWh $150 696. Energy generated by the generator/month @ 3 hours/day for the peaking load of 150 KVA at 0.92 power factor lagging 150*0.92* 3* 30= 12420 kWh. Considering the capital investment, life time, the load factor, the annual operation and maintenance cost, the labour cost, the depreciation and the diesel fuel cost, the average energy cost for the Diesel generator supply is worked out to be $0.19/ kW-hr. Therefore, energy cost for the generator supply is $0.19*12420= $2359.8 and hence total charges incurred/month for the peak shaving option is $162 805.8. The EC team suggested the Board that more saving in energy cost could have been obtained through Renewable energy sources compared to the Diesel generator supply due to reduced generation cost. Net saving by peak shaving per month is $8021.7 and $96 260.4 for the whole year if peak shaving is applied for the entire 12 months @ 3 hours/day. D: Explore cogeneration feasibility: For the cocking purpose in hostel, we require fuel such as coal or LPG (liquid petroleum gas). If we use coal, it is more carbon intensive than oil or natural gas. It produce large amount of carbon dioxide. So, we uses natural gas i.e. LPG but it is more costly than coal. So, this problem we need to setup a goober gas plant in hostel. The input to the goober gas plant is human waste. The gas produce by the plant is used for cocking purpose. It reduces the fuel cost and carbon dioxide emission. 1) Intake tank 2) Mixture of dunk and water 3) Brick walls 4) Metal cover 5) Valve 6) Used sludge 7) Pipe to kitchen 8) Input pipe 9) Brick wall 10) Ground level CONCLUSIONS The analysis and calculation of electrical energy conservation of the glass sheet industry for a developing country were carried out, even though the amount of the electrical energy used was low (1.77%) compared to the gas energy ( 98.23%) provided to the said industry, remarkable energy cost savings were demonstrated and is accounted for some 49.23% of the total annual industry electricity cost. Adapting and following the electrical energy conservation guidelines are recommended for a developing country glass industry. These recommendations if applied to any similar industry in other developing countries may also lead to very reasonable cost savings. Having listed all the different remedies which should be taken to have electrical energy conservation, the implementation and the application of these recommendations is very crucial in the glass industry of developing countries to reach the desired cost savings. Focus should be directed to the demand side management, and the use advanced electronic programmable switching for achieving the desired savings. Gas heat energy is a potential savings even though its cost is less than fossil oils. A developing country which does not possess these raw materials may face higher energy prices in this sector. Therefore, instead, a complete updating, maintenance and the use of energy efficient equipment may reduce energy costs. The limited capital and investment become an obstacle for applying a comprehensive conservation plan in developing countries. Therefore partial solutions if followed may give pronounce energy cost savings. Generally, in a developing country, capital, raw material and the lack of advanced Technology equipment is of a direct relationship to energy cost savings.

An Analysis of Cry, the Beloved Country :: Cry the Beloved Country Essays

An Analysis of Cry, the Beloved Country    In Alan Paton's novel Cry, the Beloved Country two characters, Absalom's girl and Gertrude, show the how society in Johannesburg is as a whole. Absalom's girl symbolizes how girls her age are mothers and have even become divorced several times before. On the other hand Gertrude, Kumalo's sister, illustrates the qualities of a young woman who becomes corrupt from Johannesburg's filthy system of stealing, lying, and prostitution. Both of them show the ways of Johannesburg as a whole. When Gertrude is first found, by Kumalo, she is seen as a ragged and dirty person making her living as a prostitute. When Kumalo sees this he thinks of how she could have a much better living if she came back with him. This is, in essence, the same thing that Kumalo and the blacks are trying to do to Johannesburg. These people are trying to fix the corruption that has taken place in the city. Gertrude, like many others who have come to Johannseburg, or who were even born there, were brought to a world where corruption is the key to living. This is the only way to make a decent life and so they stoop to the lowest levels possible, cheating and prostitution. And just like the rest Gertrude can't be saved from what has become. Even though Kumalo tries to save her and the city of Johannesburg from what it has become it is known that once they have become what they have it's impossible to change them back. Absalom's girl, on the other hand, symbolizes how the society gets into many difficulties at a very young age. This girl has already had several husbands and has a child. Like the rest of the population of Johannesburg she has been confronted by something she is not ready to face. Because of the way of life in this city her choices, along with many others, is half chance. Even though it seems to be the right thing it isn't the same outside of the city. Symbolism is also shown through Absalom's girl to Absalom. Many people, in Johannesburg, have spouses who make a living by doing many bad things including stealing. Also, a great number have lost someone because of what they do, either by death or by getting arrested and prosecuted. Either way the people are taking a risk and it is shown by what happens to Absalom.

Social Networkings Influence on Eating Disorders Essay -- Facebook, T

As many as 10 million woman and girls suffer from anorexia or bulimia in the United States (Steele). Anorexia and bulimia are very serious eating disorders. Many women and young girls feel that these disorders are the only way for them to be accepted by others. However the strive for acceptance only ends up causing pain, emotional harm, or death to those affected. Being a sufferer of anorexia, I know the emotional and physical damage this disease can cause. The root cause of having an eating disorder is still undetermined, yet some doctors and physiologist believe the new focus on a perfect body, shown by the media is to blame. Society’s portrayal and promotion of a thin body image as the ideal female body contributes to eating disorders and poor self-esteem in many woman and young girls. Eating disorders are a group of illnesses characterized by abnormal eating habits. The American Psychiatric Association (APA) classifies eating disorders into three categories: anorexia nervosa, bulimia nervosa and eating disorders not otherwise specified, such as binge eating. The history behind these controversial diseases start as far back as 1689 when an English physician, Richard Morton gave the first medical description of anorexia nervosa, which he called "nervous consumption", he said was caused by sadness and anxious cares (Eating Disorders Timeline). The more recent fascination of eating disorders came to light when model Twiggy arrived in the U.S. Her short-haired, super-thin, look altered the fashion industry and shed light on a new feminine body image based on extreme thinness. Twiggy also introduced the â€Å"model† body image known today (Eating Disorders Timeline). In 1994 a study published in the Journal of Adolescen... ...anice. "Old Problem, New Victims." Winston-Salem Journal (Winston-Salem, NC). 26 May 2009: n.p. SIRS Researcher. Web. 05 Apr 2011. Ogilvie, Megan. "How Biology Trumps Image As Cause of Anorexia 'I Became Obsessive..." Toronto Star (Toronto, Canada). 13 Apr 2008: SIRS Researcher. Web. 05 Apr 2011. Onstad, Katrina. "Thin Is Inviolate." Globe and Mail. 20 Nov 2010: L.15. SIRS Researcher. Web. 05 Apr 2011. Siegel, Judy. "Link Found Between Heavy Use of Facebook and Eating Disorders..." Jerusalem Post (International). 01 Feb 2011: 6. SIRS Researcher. Web. 05 Apr 2011. Schwarz, Fred. "Not Our Stars But Ourselves." National Review Vol. 61, No. 3. 23 Feb 2009: 22-24. SIRS Researcher. Web. 05 Apr 2011. Topping, Alexandra. "Kate Moss Fallout: 'Pro-Anorexic' Community Finds Comfort..." The Guardian (London, England). 21 Nov 2009: 11. SIRS Researcher. Web. 05 Apr 2011.

Globalization and Its Impact on Bangladesh Economy

Assignment On â€Å"Globalization and its Impact on Bangladesh Economy† (ECO 360, Section: 1) Assignment on â€Å"Globalization and its impact on Bangladesh Economy†. Subject: ECO 360 (Socio-Economics Profile of Bangladesh) Section: 1 Submitted To: Muhammad Mahboob Ali Adjunct Faculty, Department of Economics, East West University. Submitted By: Name| ID| | | | | | | Acknowledgement In the preparation and finish this assignment, we acknowledge the encouragement and assistance given by a number of people and institution.We would like to express our gratitude to our faculty at East West University; Mahboob Ali for providing us detailed feedback and advice on this assignment. He always gave us his suggestions in making this study as flawless as possible. We also like to thank our group members for co-operating me in many troublesome tasks. And never the less above all our heartiest thanks goes to all mighty Allah without his help. We would not be here. Letter of Transmitta l Date: 23th November, 2012 Muhammad Mahboob Ali Department of Economics, East West University Subject: Submission of Assignment. Sir, It’s our great pleasure to submit the assignment.A study was making on a economics sector that you have asked us to prepare and we select â€Å"globalization impact on Bangladesh economy† to study. We have tried our best to follow the instruction that was given by you. Throughout this study we tried to identify whether globalization play positive or negative impact on our country’s economy. As well as, we also discuss the overall condition of our country’s economy also. We sincerely hope that you will enjoy this report as we enjoyed while writing it. If you need any further clarification or quarry in interpreting this analysis, we will be glad to oblige you.Thank you. Abstract: Over the past decades, globalization has now become a new world order, new world order, which virtually influences everything that comes in our min d. Developing countries like Bangladesh with vulnerable geopolitical locations and weak economies are now looking at globalization to strengthen their economy to fight any perceived threats. But the increasing role played by the western dominated institutions such as, the World Bank (WB), International Monetary Fund (IMF), and the World Trade Organization (WTO) in setting the rules under which globalization is played, has placed developing ountries in a much disadvantageous position vis-a-vis the developed countries. However, a closer look at the globalization will show that it has both positive and negative impacts on the economy of Bangladesh. A thorough understanding of the effect of globalization is needed to use its advantages to improve her economy. This may also help Bangladesh maintain a sustained growth in the face of likely economic peril. This paper studies both negative and positive impacts of globalization on some selected economic sectors of Bangladesh.It also studies some ameliorative measures to overcome the negative impacts and also the ways to exploit the opportunities created. Finally the paper recommends some measures for Bangladesh to meet the challenges of economic globalization. Table of Contents No. | Topic| Page| 1. | Introductiona) Generalb) Motivation and Significance of the Researchc) Research Questions| 7 – 8| 2. | Literature Reviewa) Globalization as a phenomenon. b) The positive impact of globalization. c) The negative impact of globalization. | 9 – 12| 3. | Objective of the Study| 13| 4. | Methodology| 14| . | Limitation of the Research| 14 | 6. | Analysisa) Overall Economic Condition of Bangladesh. b) Opportunities of Globalizationc) Challenges of Globalization| 15 – 25| 7. | Recommendations| 26| 8. | Conclusion| 27| 1. Introduction Globalization in the broadest sense implies integration of economies and societies across the globe through the flow of technology, trade and capital. It basically refers to a p rocess that enables people, goods, information, norms, practices and institutions to transcend national jurisdictions through markets, technologies, interests and information flows.Four types of changes characterize globalization. First, it involves a stretching of social, political and economic activities across frontiers, regions and continents. Second, it is marked by the growing magnitude of interconnectedness and flows of trade, investment, finance, migration, culture, etc. Third, it can be linked to a speeding up of global interactions and processes. And fourth, the effects of distant events can be highly significant elsewhere and specific local developments can have considerable global consequences.Thus the boundaries between domestic matters and global affairs become increasingly fluid. Globalization, in short, can be thought of as the widening, intensifying and growing impact of worldwide interconnectedness. It causes an expansion in the volume and variety of cross border t ransactions in goods and services. Globalization is a much used term and there are diverse views as to how and why globalization is occurring this time around. The late 19th and early 20th centuries saw a globalization in economic markets, but we can see its pervasive and widespread impacts at the present time.Every country in this world enters into global economy and trying to cope with the pace of global economy. Bangladesh is one of the developing countries in the world and its economy has already being impacted by global economy. It is not possible for a third world country like Bangladesh to keep pace with global economy, because it is conceivable that the origins of globalization lie in the political decision by merely the developed countries of the world. Bangladesh’ economy experiences a recession of industrial growth.The study is focused that there is strong opportunity for Bangladesh to boost its economy, but the socio-political situation should be favorable one to enhance savings and investment in this country. The study articulates some strong recommendations that could make Bangladesh even stronger to boost to compete globally to a greater magnitude. It is conceivable that Bangladesh needs to privatize its State- owned enterprise (SOEs) and should maintain an unassailable relation with World Bank, IMF and other donor agencies. It is a big challenge for Bangladesh to contend in global economy through considerable internal and external obstructions.The entire paper is arranged by giving a brief current economic condition of Bangladesh followed by an introduction initially; after then the next section is discussed how Bangladesh economy impacted through regional trade agreement and later the paper portrays the role of privatization in Bangladesh economy. And this paper also discusses how Globalization affects the whole economy of our country Bangladesh. Later the paper discusses some constraints of Bangladesh economy and then it illustrates so me basic recommendations that could make this economy stronger to compete with global economy.And at last a conclusion is illustrated that reflects the overall theme of this paper. It would be very difficult to keep pace with modern globalization. Therefore, one of the greatest challenges faced by Bangladesh in this century is how to strengthen its participation in the global economy in a manner that will bring widespread and sustainable benefits to its people. Motivation and Significance of the Research The motivation that we have for this research is based on the fact that we are Bangladeshi who have seen and experienced the impact of globalization phenomenon on economic development.Developed countries use globalization for improving their economy in many ways. We have marked how these countries use globalization to their advantage. Having compared the socio-political and economic environment of Bangladesh and the countries we have researched, we are now in a position to understan d the likely effects of globalization on Bangladesh economy. We would like to take this opportunity to do the research based on our experience and understanding of the subject from our reading. Research Questions The primary question of this term-paper is: What is the overall impact of Globalization in Bangladesh economy?What should Bangladesh do to use the advantages of globalization in improving her situation? 2. Literature Review Many books and articles have discussed the various effects of globalization exhaustively. These studies include globalization as a phenomenon in general and the positive and the negative impacts of globalization in particular. Even though many books and articles have addressed globalization from the developing countries point of view, few even mention its impact specifically on Bangladesh. Globalization is a growing concern and it is perceived as a vast subject that can impact all aspects of the world, or a nation.People blame globalization for affecting everything from culture, to political systems, to religious institutions, and the economy; all of these perceived impacts of globalization would impact Bangladesh differently. It is important to determine how exactly it can impact Bangladesh. This paper will concentrate on finding viable options for Bangladesh to sustain the world of global economy. The paper will also focus on the measures that Bangladesh might consider in using the effects of globalization in its economic growth. The literature generally looks at globalization from three different angles.These are: a) Globalization as a phenomenon. b) The positive impact of globalization. c) The negative impact of globalization. a) Globalization as a Phenomenon Historical Foundation: The origin of the concept of globalization stretches far back to the activities of the early Mediterranean civilizations before the fifth century A. D. 1 The ancient explorers, motivated primarily by the prospects of material gain, traversed the â₠¬Å"silk route† between China and Europe, the â€Å"amber route† from the Baltic to the Mediterranean and the â€Å"spice route† by sea between Egypt, the Yemen and India.During this period, up to the end of the fifteenth century, the volume of long distance trade, travel, and communications was inevitably irregular. 2 Increased trading expeditions by British, Dutch, and Portuguese merchants in the seventeenth century raised the demand for colonial goods such as coffee, tea, sugar, tobacco, and chocolate. The requirement for more production of these goods as the demand increased prompted the beginning of slave trade from Africa to the Americas and Europe. Following these expeditions, European languages were easily transplanted to other continents and the three monotheistic religions namely Islam, Christianity and Judaism took root. In the nineteenth century, the technology revolution in transport and communications including the emergence of the railway, the teleg raph and the steam ship all lowered freight rates and raised incomes therefore further boosting globalization. Core Elements of Globalization: Basically, globalization rests on a tripod namely, the expansion of markets economic), challenges to the state and institutions (political), and the rise of new social and political movements (cultural). 8 economically, technological changes and government deregulation have permitted the establishment of transnational network in production, trade, and finance creating what is referred to as a â€Å"borderless world†. The second element affects States. Political power and activities extend across the boundaries of nation- states while policy making on issues such as human rights, environmental degradation and nuclear safety have required global consensus.The third element of globalization affects more than markets and states. It is altering the lives of people across the globe. Fast dissemination of media, books, music, international id eas and values has produced a somewhat global culture. b) Positive impacts of globalization: A thorough understanding of the effect of globalization is needed to use its advantages to improve the economy of Bangladesh. This may also help Bangladesh maintain a sustained growth in the face of likely economic peril.Though some view NGO (Non-Government Organization) as a tool of economic exploitation, it brings changes on the living condition and status of the poor and rural people. Excludes are now becoming Includes. While most low-income countries depend largely on the export of primary commodities, Bangladesh has made the transition from being primarily a jute-exporting country to a garment-exporting one. This transition has been dictated by the country's resource endowment, characterized by extreme land scarcity and a very high population density, making economic growth dependent on the export of labor-intensive manufactures.A greater integration with the global economy seems to fit well with Bangladesh's development efforts. The garment sector opens the door of sufficiency to the people who previously live in a hurdle living. The export-oriented garment industry presently employs around 2. 5 million workers – mostly women from low-income, rural backgrounds. The second dominant export-oriented activity, shrimp farming, is also very labor intensive, presently employing nearly half a million rural poor. This economic revaluation is not only creates skilled sectors but also gradually decreased unemployment problem.More generally, import liberalization is likely to have contributed to the creation of productive employment for the poor through the strengthening of many small-scale and informal sector activities that have benefited from improved access to imported inputs. Another issue of great importance to Bangladesh is that the free movement of migrant workers across borders be expanded, for workers' remittances play an important role in its economy. Moreo ver, as a result of increasing global connection and technological improvements diversification of export is possible as many new export items are added as the global demands are increasing.We can talk about ship building industry and IT based call center service are now coming as a new dimension in our economic arena. Globalization also creates impact on our culture and social structure as we are now considering ourselves as a global citizen. The interaction with other cultures and knowledge and information about other societies create a great impact on our lifestyle and thinking. c) Negative impacts of globalization: The removal of the Multi-Fiber Arrangements (MFA) quotas now threatens to increase competition in the global garment industry and thus limit Bangladesh's growth.The strength of the industry depends on the export quotas dictated by the MFA and preferential access in the major Western markets. Moreover, other export industries are unlikely to take its place if the garme nt industry shrinks. It is not easy for a Least Developed Country (LDC) like Bangladesh to specialize in manufactured exports. Having low wage costs can hardly compensate for its lack of marketing skills and infrastructure and poor overall investment climate. Moreover, the high degree of dependence of domestic industries on imported raw materials and industrial inputs makes it difficult for Bangladesh.In this connection, it is likely to mention that, the Generalized System of Preferences (GSP) rules were devised decades ago to help developing countries promote export-oriented industrialization. But, in effect, the rules proved discriminatory against LDCs like Bangladesh that count on low value-addition processing activities. On top of these rules, Bangladesh also has to worry about non-tariff barriers such as those relating to environmental or labor standards. Anti-dumping actions are already under way against exports from Bangladesh,Also, the role of globalization played by the wes tern dominated institutions such as, the World Bank (WB), International Monetary Fund (IMF), Asian Development Bank (ADB) and the World Trade Organization (WTO). The agenda of the Bangladesh’s economical sector and upcoming debt formulated by these kinds of organizations are running on the process of economic exploitation of a country. For this, they are willing to give money for construct a road rather than a factory. Beside this for every debt they are selling their products in our country without any tax.Globalization is a well excepted term all over the world, but developed countries are the real beneficiaries of the concept; whereas the developing countries are in a confused situation to relate the term on their economic, social, political and personal life and it cannot helps to reduce the gap between haves and have not. 3. Objective of the Study: The overall objective of the project is to expand the theoretical discussion on the relationship between globalization, envi ronmental change, resource use social suffering and human security in the context of a least developed country-Bangladesh.And the primary objective is to analysis how globalization effect on country’s economy. This study will: †¢ investigate the role environmental change play in social conflicts and resultant social suffering; †¢ assess the role of population movement as a factor of environmental degradation; †¢ Critically assess the gender dimension of social change resulting from the interacting forces of globalization and environmental change. The principal objective of this study was to identify all major dimensions and issues of †¢ Globalization and attempt to explain those, to the extent possible, from industrial perspective.The specific objectives set were as follows: †¢ To assess the effect and impact of the process of globalization on the life and livelihood of industry especially in Bangladesh. †¢ To analyze the overall economic conditi on of Bangladesh. †¢ To find the opportunities and challenges of Globalization in the context of Bangladesh economy. 4. Methodology: We used descriptive and expletory design to prepare our assignment. By design, this study was an exploratory type of study. For our primary research, we mostly used the resources of the web and the library.And some standard reference sources like – †¢Daily Newspaper †¢Weekly Newspaper †¢Magazine †¢ Economic Reports based on Bangladesh Economy For finding materials in the web, we used the standard search engines such as †¢Google †¢Yahoo †¢AltaVista As well as reference sites and news sites, we also used some Bangladeshi search engines. 5. Limitation of the Problem : All data are not available in internet. It was very short time to collect all relevant data and to prepare this assignment. Also we faced load shedding problem and our lab was over crowded that distract our mind sometimes. . Analysis a) Overall Economic Condition of Bangladesh: Bangladesh is one of the poorest countries in the world, but it is plausible that the overall growth rate of Bangladesh is not stagnant; the overall growth rate of Bangladesh is actually moving forward. The growth average of Bangladesh is 5. 4%per year over the FY01-05 period, which has been the highest since the country’s independence (The World Bank). Bangladesh has global merchandize trade relationship ships with many countries around the world.Bangladesh has a good market in the United States, United Kingdom, Australia and Germany. Bangladesh also exports goods and services from around the globe. The economy of Bangladesh is a rapidly developing market-based economy. Its per capita income in 2010 was est. US$1,700 (adjusted by purchasing power parity). According to the International Monetary Fund, Bangladesh ranked as the 43rd largest economy in the world in 2010 in PPP terms and 57th largest in nominal terms, among the Next Eleven or N-1 1 of Goldman Sachs and D-8 economies, with a gross domestic product of US$269. billion in PPP terms and US$104. 9 billion in nominal terms. The economy has grown at the rate of 6-7% per annum over the past few years. More than half of the GDP is generated by the service sector; while nearly half of Bangladeshis are employed in the agriculture sector. Other goods produced are textiles, jute, fish, vegetables, fruit, leather and leather goods, ceramics, ready-made goods. Garments sector is the largest exporting sector for Bangladesh. For Bangladesh, openness to trade would be a vital basis of future growth.Growth from trade directness will depend upon simultaneous investment climate reforms that would boost competitiveness to domestic firms. In Bangladesh the government should undertake policies to attract overseas remittance into productive investment activities. Remittances from Bangladeshis working overseas, mainly in the Middle East, are the major source of foreign exchange earnin gs; exports of garments and textiles are the other main sources of foreign exchange earnings. Ship building and cane cultivation have become a major force of growth.GDP's rapid growth due to sound financial control and regulations has also contributed to its growth; however, foreign direct investment is yet to rise significantly. Bangladesh has made major strides in its human development. The land is devoted mainly to rice and jute cultivation as well as fruits and other produce, although wheat production has increased in recent years; the country is largely self-sufficient in rice production. Bangladesh's growth of its agricultural industries is due to its fertile deltaic land that depends on its six seasons and multiple harvests.Transportation, communication, water distribution, and energy infrastructure are rapidly developing. Bangladesh is limited in its reserves of oil, but recently there has been huge development in gas and coal mining. Bangladesh’s economy has been rem arkably resilient, with GDP growth averaging 5? % a year for the past 15 years. But the growth has been off a low base, so the country remains one of the poorest in Asia. Its economic base is narrow (based around garments and agriculture) and vulnerable to natural disasters. Moreover, despite a recent period of relative calm, political stability is far from assured.Bangladesh is below the regional average for per capita income, growth and creditworthiness. The business climate can be difficult – but according to the World Bank’s Doing Business Survey no worse than the regional average. Like most developing economies, Bangladesh can be a risky place to do business. But it does have attractions: a large and growing population; steady GDP growth; and strong demand for foreign capital to meet the country’s large infrastructure and energy needs. Chart 2 shows the different criteria of risks to exporters and investors of Bangladesh.Over the past 15 years, growth has b een rapid and has slowly accelerated. Over 2012-14, the IMF expects growth to be over 6% pa, an impressive performance in the current economic climate. However, this partly reflects strong population growth, with per-capita income growth continuing to lag the regional average. Moreover, inflation remains a problem, with prices recently being boosted by reductions to fuel subsidies and a weakening in the currency. Inflation is also very exposed to swings in food prices, which account for 60% of consumption. ) Opportunities of Globalization: Bangladesh has a low human capital stock and is relatively closed to the global economy even by standard of the other low-income countries. Therefore, Bangladesh has not yet fully become part of the global economy. This is as truer in trade as in technology achievements. Globalize offers the potential to free Bangladesh and other developing countries from the restrictions imposed by a relatively small domestic market, low saving and limited access to world technology and credit. 1. Opportunity to break the vicious circle:It offers an opportunity to break the vicious circle of savings and investments, a long-standing important challenge for all developing countries. Better education, training, technology, equipment and infrastructure in general raise living standard. Due to globalization, foreign investment in our country will increase. If we can properly utilize it then employment will increased which will raise the income of people of Bangladesh. So, if there is a high rate of income then savings of people will increased which will enable us to break the vicious circle. 2. Alternative source of domestic investment finance:Globalization offers an alternative source of domestic investment finance. Such financing is channeled through direct investment and frequently come with attached benefits, such as technology transfer, training, marketing networks and managerial and technical expertise. Foreign investment is especially att ractive when it brings its own physical capital and the means to enhance human capital of domestic citizens. 3. Increasing the living standards of poor people and employment opportunities: Globalization is increasing the living standards of poor people in Bangladesh.Industries from foreign investments create employment opportunities for a large number of people including young women who, for the first time, can visibly enter the male dominated public space. Foreign and export oriented industries are changing the economic and social scenario of Bangladesh which, results in an increase of living standards. 4. Motivating the people and increasing the modernity of our society: Increasing globalization is motivating the Bangladeshi people and increasing the modernity in our society. A person can forces by inspiration refers what effect his direction, intensity, and persistence of voluntary behavior.Foreign investments create high paying jobs, which require more knowledge and skill, there fore motivating people to work for a higher education. Bangladeshi students are performing better than before. Advertisements for foreign products also motivate people. Globalization allows foreign companies to advertise their products in our country. When people watch advertisements for expensive foreign products, they want to buy them even if they don't have the ability. 5. The transfer of technology: Bangladesh has largely benefited from the transfer of technology.One nation cannot produce everything, because it has limited resources. Globalization gave us the opportunity to use modern technology. We got world-class telecommunication technology, which was not possible without foreign investment. 6. Modern telecommunication technology: Modern telecommunication technology connected us to the rest of the world. Bangladesh are getting technological advantages like computers and the Internet, transportation and online banking with evaluation in the modern world. We are earning foreign currency and creating many new jobs by exporting computer software.Globalization has made a big social and economic change in Bangladesh. 7. Increased competitiveness and raise export potentials: Product market competition induced by government policy of economic liberalization can bring about increased competitiveness and raise export potentials. The competition can be enhanced by reductions in transport and communication costs of conducting international trade, by removal of external tariff barriers, and by more vigorous application of pro-competitive policies in those domestic industries not exposed to international competition. Competition is healthy for the economy in the long run.It not only influences the relative bargaining power of firms and workers but it is also a force for renewal and change. 8. Actions of Employers to reap the opportunities of Globalization: Volatility in the labor market has prompted employers in Bangladesh to become more organized and to move towards greater unity. There is a tendency among the employers to shift certain risks and responsibilities away from the enterprise or society to the workers. Employers have tended to introduce new labor-saving technologies to reduce cost of production and to avoid the risk of labor unrest.Unlike in the public sector, employers in the private sector have resorted to growing casualization of workers resulting in the deprivation of workers of provident fund, gratuity, normal working days and hours, group insurance, leave encashment, leave with pay and pension benefits and, above all, job security 9. Actions of Trade Unions to reap the opportunities of Globalization: Economic integration and increasing competition erode the bargaining power of trade unions. However, the increasing mobility of goods and capital allows such obstacles to be readily circumvented, thereby prompting the trade union movement to adopt a global approach.Globalization has also created opportunities for trade unions by offering organized labour the alternative of collaborating with employers to enhance productivity, adaptability and product or service quality, in exchange for job security and higher wages. 10. Benefit from return migrants: Because of globalization also Bangladesh can benefit from return migrants. Migrants make-up a pool of potential investors and managers who have benefited from foreign training, not merely from academic or vocational training but in the wider sense of learning on the job and assimilating more of the global business culture .Migrants are likely to return for changing lifestyle for example they wish to return home to set up a business (however small) or to take advantage of early retirement. Due to globalization these migrants are interested to invest in Bangladesh 11. Foreign Direct Investment: FDI in RMG industry should be welcomed and pursued to ensure higher investment in this sector. FDI would also help in transferring technology and ensure bigger market acces s by providing direct linkages with the retailers. 12. Some other Opportunities of Globalization: Globalization has also created some new scope and opportunity for the development.Following may be considered as opportunities: a) Bangladesh is being integrated with global economy and business. b) Expanded private sector employment opportunity with poor labor rights.. c) Increasing competitiveness and efficiency. d) Emergence of new sectors of production and employment according to the global need, such as ternary, footwear, pharmaceuticals, RMG, etc. e) Labor export to external market increased. f) As more countries are participating in trade, finance and production, Bangladesh is being integrated globally to a greater extent than before. g) Increased economic interdependence compared to other developing nations. ) Bangladesh is being linked to both developed and developing countries more closely through economic institutions, international agreements or treaties. i) Increase in fore ign capital, information and technology flows. j) Bangladesh is facing competition from increased internationalization of foreign enterprises, mergers and alliances. k) Bangladesh is experiencing customer-driven (rather than product-driven) global and local markets, though at the same time segmented markets. l) Competitiveness of Bangladesh is increasingly being based not on low wages or natural resources but on knowledge/innovation, skills and productivity. ) Potential to boost productivity and living standards across the globe, because a globally integrated economy can lead to a better division of labor between countries, allowing low-wage countries like Bangladesh to specialize in labor-intensive tasks while high-wage countries use workers in more productive ways thus allowing global firms to exploit bigger economies of scale. So we think Globalization will help Bangladesh a lot to increase its overall economic condition and others sectors that need to be strong to build up a dec ent economy. c) Challenges of Globalization:Within a country, there is the challenge of forgoing liberalization policies that promote greater integration of the domestic economy into the global economy. There are pressures from trade unions, lobby groups and local businesses over the effect of these policies on jobs and the closure of local industries. These can make it politically and socially difficult to implement reforms that could benefit a country in the medium to long term. The responsibility for achieving the right balance and pace of adjustment lie with individual Governments, but in practice this is not simple as it appears.Bangladesh pursued a number a number of stabilization and structural reform programs between 1987 and 1993, and made considerable progress in achieving macroeconomic stability. The various challenges of globalization that Bangladesh faces are as follows:- 1. Challenges for national economy: During the period of rapid integration with the global economy, the incidence of poverty appeared to have increased and so have inequalities in the country. Economic reforms in the country produced disappointing results in the absence of a system to induce entrepreneurs to invest in industries.Lack of institutions to make the economy efficient and reduce transaction costs was also a reason behind the country's poor performance. Inequalities increased in the country during the period of rapid globalization. Inequality in income distribution increased quite substantially both in rural and urban Bangladesh. 2. Challenges for our culture and social life: Globalization makes worldwide boundaries fade away and enlarging contest in the market place. For globalization we are facing a huge impact on our culture and social life in the modern world. For example, McDonalds introduced American fast food to other parts of the world.The American fast food of McDonalds, Pizza Hut, etc. are introducing to our country, which is a challenge for our Bengali fast f ood. Also the Indian culture becomes a major challenge for our own Bengali culture now-a-days. 3. Challenges for business: As in the case of industries, globalization impinges heavily on the business in Bangladesh with destabilizing forces debilitating balance of trade and balance of payments. Bangladeshi products are increasingly losing competitiveness in the global market due to growing cost of business exacting high prices.The cost of business is increasing primarily due to port problems, bureaucratic tangles in customs department and no improvement in lead-time. In contrast, an increasing number of countries are offering low-cost products. 4. Challenges of Globalization on Industry: In Bangladesh many industrial units in jute, cotton, RMG, and paper and several other sectors are closed down by a number of reasons of which globalization is one crucial factor. These industrial units have difficulties to compete both domestically and internationally.Even in the domestic market, it is difficult for them to keep up the competitive advantages compared to imported goods. Notably, in all these sectors there is considerable inflow of FDI and presence of MNCs (multinational companies) and there is no SOE. 5. Challenges faced by ICT and Bio-technology: Such challenges faced by Bangladesh for the ICT and Bio-technology and their Impact on Employment and Intellectual Property Rights are: a) Makes some of the traditional farming role of people redundant leading to unemployment particularly among older and rural people. ) It's not a desires and traditions of our communities to imported bio-technologies always. c) Needs to make easy to codify and move some of the un-codified knowledge of local citizens to the worldwide market. However if uncompensated, the move deprives people the economic gains and royalty they should be entitled to. 6. Challenges for Power Sector: Government has opened up foreign investment in power generation as independent power producer (IPP), and ha s also privatized transmission and distribution to the private sector (DESA, DESCO). Significant private foreign capital invested in the sector.As a result Bangladesh Power Development Board gradually has been losing its control over the power sector. Companies appointed employees under new terms and conditions. Job security of the employees also was ensured by the agreement 7. Challenges for Telecommunication: Telecommunication service was exclusively under Bangladesh Telephone and Telegraph Board (BTTB). This sector has been opened up for private investment. Different private telephone companies, TV channels, marine and rural telecommunication, radio trucking service and revering telecommunication have already been opened up for private sector.These private phone companies or TV channels are capturing a large number of customers. As a result govt. owned companies losing their customers. Government has been making different efforts to privatize this sector like PDB under company ma nagement. There is strong opposition from employees against privatization of BTTB. 8. Challenges for Labor Market: In Bangladesh many industrial units jute, cotton, paper and RMG, and several other sectors were closed down by a number of reasons of which globalization is one of crucial factor.It is estimated that near about 7 thousand big and medium size industries closed down as an impact of globalization. In Bangladesh near about 2 million people lost their employment due to closure of industries. Most of the privatization and closure of industries resulted in huge retrenchment. Fall in the aggregate demand for labor has accelerated declination of wage. Real wage declined due inflation and currency market deregulation. Also there is a decreased in number of working people under permanent contracts of employment.Non-traditional forms of employment including part time, casual and contract labor, home-work and migratory work increased. Casualization of workers in the private sector r esulted in deprivation of provident fund, gratuity, normal working days and hours, group insurance, leave, pension and above all job security. Numerical functional flexibility in labor market increased, increased of out sourcing of work, and increased irregular payment. In the name of competition workers are forced to work overtime. Minimum wages of the workers in the private sector are not protected. 9. Challenges for Employment:Challenges for employment are as follows:- a) Trade liberalization and privatization created social insecurity and aggravating, unemployment, underemployment. b) Social security of the workers decreased. c) Reduced job security, workers are terminated without benefits. d) Working environment degraded, especially in the private and informal sector. e) Labor laws are not implemented in most of the privately owned industries. 10. Mutual dependence: Globalization has increased mutual dependence between macroeconomic stability and good institutions and organizat ions, and made stability vulnerable to volatility in financial markets.Financial and currency crises around the world have occurred with an acceleration pace and with relatively more devastating impacts since the globalization process accelerated from 1989. 11. Some other Challenges: Bangladesh has to face some challenges to fight as well as cope with globalization. Challenges are as follows: a) Build up strong resistance against privation. b) Reopening of closed industries. c) Unite trade union movement to achieve greater collective bargaining power. d) Capacitate trade union with new bargaining approach. ) To fight against the fast changing rules of the game of rapid transformation workers need to develop knowledge based skill in manufacturing through continuous updating of skill to face the challenges of globalization. f) Build up global shared goal and action. Enhance global unionism to face the global challenges. g) Initiatives to influence International Financial Institution t o ensure workers’ rights. h) Build up pact between trade union and global consumers. Make global consumers responsible to ensure labor rights at national level. i) Organize informal sector as well non-unionized workers to strengthen trade union movement. ) Globalization not only affected workers but also affected different sections of the people, so it is important to organize voice from all sections. k) Workers alone would not be able to fight globalization. Influence political parties to incorporate the agenda. Globalization has both positive as well as negative impacts on its players. In an increasingly open, integrated and borderless world there have been remarkable growths in trade and exchanges. It was basically possible because of the democratization of technology, finance and communications. On the other hand globalization also generates number of problems. 7.Recommendations: The impact of globalization on the economy of Bangladesh is mixed with marginal positive outc ome overshadowed by vast negative results. Globalization provides many opportunities for development for Bangladesh and its people, including the potential to improve wages and living standards. It has challenged many economic strategies of the past as the way towards development. It provides an impetus and incentive to develop human resources and to improve productivity as key factors of competitiveness and improved living standards. Globalization has made Bangladesh conscious of the need to improve productivity.Even unions in Bangladesh have come to acknowledge the importance of productivity enhancement to the standards of living of their own members. > Trade liberalization and privatization has created social insecurity in terms of loss of jobs and aggravating unemployment and underemployment in the country pointing to the need for social protection to contain insecurity of the workers. Voice of the common workers, collective awareness and participatory management of trade unions at various levels are the three main processes for the improvement of trade union governance.The existing practice of centralized governance of trade unions has largely contributed to the major failures in the labor processes in Bangladesh. > Competitive labor market is expected to link wages with productivity. In the case of SOEs, real wage growth outpacing productivity growth is a factor raising unit labor costs and reducing international competitiveness calling for adjustment of real wages in line with productivity growth. > The state thus has a critical role to play; both in handling such shocks and in helping people and firms seize the opportunities of the global market place.Globalization also sharpens the need for international co-operation in at least five areas, such as: a) Managing Regional Crisis, b) Promoting global economic stability, c) Protecting the Environment, d) Fostering Basic Research and the dissemination of know-how and e) Making International Development Ass istance more effective. Some Recommendations are given below: Government level reforms: Bangladesh Government has taken initiatives or resources for telecommunications and transports which are not along to meet the nation’s growing requirements.Bangladesh government should continuously improve system capabilities to enhance the private sector participation. Monetary Policy: The central bank must maintain a close look on the growth of the monetary base or domestic credit creation. Attract free flow of FDI : Foreign Direct Investment is inevitable for any developing economy. Bangladesh should create proper field to attract more FDI in industrial sector. Productive investment: Bangladesh needs substantial quality investment in the industrial sector and investment in those activities where we can produce more efficiently.The economic growth rate in Bangladesh is not necessarily constrained by insufficient savings; rather it is due to poor level of investment and lack of efficient use of capita Integration into World Markets: In Bangladesh, firms can be internationally integrated by means of ownership or by selling their products in foreign markets. In the readymade garments and leather/footwear industries, most of the firms are majority exporters, i. e. , they sell more than 50% of their output in export markets. In contrast, in the pharmaceuticals industries there are no majority exporters (Fernandes2006).Limited foreign capital assimilation: Every year Bangladesh seeks foreign capital for undertaking various projects. But foreign capital can be a substitute for domestic savings only to limited extent. Foreign aid, commercial borrowing and portfolio investment can limit the expansion of savings by expanding consumption. The government should immediately constitute a national committee on aid for trade to work on getting a better share of the aid-cake as well as adopt a foreign aid policy statement in consistent with the new PRSP (Poverty Reduction Strategy Paper) to make donors clear about the priority areas of aid. . Conclusion: Globalization has a very far-reaching effect on almost every sphere of life. In the question of economic development and growth it is even more being in this era of globalization. Developing country like Bangladesh must take the advantages of globalization and attempt to improve her economy. However, we found from each piece was that the impact of globalization was more negative on Bangladesh than it was positive.Globalization has not only kept Bangladesh from advancing ahead in economic development, but it has changed the traditions and ways of life for the indigenous people for the worse. As a poor country, Bangladesh needs to be more concerned about the appropriate implementation of Globalization. As we find thru our research, Bangladesh’s potentials to economic globalization is highly promising. We believe that the recommendation made in this paper if implemented well will take Bangladesh to a poi nt of sustained economic growth and development.