High Performance Timer in Delphi - TStopWatch

For routine desktop database applications, adding a single second to a tasks execution time rarely makes a difference to end users — but when you need to process millions of tree leaves or generate billions of unique random numbers, speed-of-execution becomes more important. Timing Out Your Code In some applications, very accurate, high-precision time measurement methods are important and luckily Delphi provides a high-performance counter to qualify  these times. Using RTLs Now  Function One option uses the Now function. Now, defined in the SysUtils unit, returns the current system date and time. A few lines of code measure elapsed time between the start and stop of some process: The Now function returns the current system date and time that is accurate up to 10 milliseconds (Windows NT and later) or 55 milliseconds (Windows 98). For very small intervals the precision of Now is sometimes not enough. Using Windows API GetTickCount For even more precise data, use the GetTickCount Windows API function. GetTickCount retrieves the number of milliseconds that have elapsed since the system was started, but the function only has the precision of 1 ms and may not always be accurate if the computer remains powered-up for long periods of time. The elapsed time is stored as a DWORD (32-bit) value. Therefore, the time will wrap around to zero if Windows is run continuously for 49.7 days. GetTickCount is also limited to the accuracy of the system timer (10 / 55 ms). High Precision Timing Out Your Code If your PC supports a high-resolution performance counter, use the QueryPerformanceFrequency Windows API function to express the frequency, in counts per second. The value of the count is processor dependent. The QueryPerformanceCounter function retrieves the current value of the high-resolution performance counter. By calling this function at the beginning and end of a section of code, an application uses the counter as a high-resolution timer. The accuracy of high-resolution timers is around a few hundred nanoseconds. A nanosecond is a unit of time representing 0.000000001 seconds -- or 1 billionth of a second. TStopWatch: Delphi Implementation of a High-Resolution Counter With a nod to .Net naming conventions, a counter like TStopWatch offers a high-resolution Delphi solution for precise time measurements. TStopWatch measures elapsed time by counting timer ticks in the underlying timer mechanism. The IsHighResolution property indicates whether the timer is based on a high-resolution performance counter.The Start method starts measuring elapsed time.The Stop method stops measuring elapsed time.The ElapsedMilliseconds property gets the total elapsed time in milliseconds.The Elapsed property gets the total elapsed time in timer ticks. Heres an example of usage:

What Is the Evidence of Welfare State Retrenchment

What is the evidence of welfare state retrenchment in western welfare states? 1. Introduction 1. Crisis of Welfare State At the end of the 1970’s, the welfare state moved into crisis (OECD, 1981; Rosanvallon, 1981). As the period of high economic growth ended and stagflation appeared, governments couldn’t afford the social expenditure which had been expanded before. Fiscal deficit appeared and unemployment rate started to increase with economic depression. The idea shared by neo-Marxists and neoliberals was that the redistributive logic of the welfare state was contradicted by the logic of capitalism and that the welfare activities of the state would have to be rolled back or reconfigured so as to†¦show more content†¦There has been relatively rapid decrease in Net Replacement Rate among some western countries after 1975. . 3. Conclusion As we can see the graph above, it seems that the long increase in social rights has been turned into a decline considering Averaged Net Replacement Rate. However, averaged decreases cannot be described as an overall dismantling of these social insurance programs. There are considerable differences among countries in these three social-insurance programs. It’s because the existing institutions and social interest which are different among countries affect the country’s decision on a social policy.[7] Thus, we can conclude that there has been overall decrease in western countries in terms of welfare benefit, but significant retrenchment has taken place in several countries. New developments taken together -globalization, European Union integration, aging national populations, major societal changes, technological progress- pointed to the need for a thorough overhaul of state welfare systems and it would have made the countries reform their own welfare systems.[8] It’s just the process to be adapted to the new economic and social conditions. Although it’s clear that major countries have focused on the reforming welfare policies andShow MoreRelatedWhat Is the Evidence of Welfare State Retrenchment ?1444 Words   |  6 PagesWhat is the evidence of welfare state retrenchment in western welfare states? 1. Introduction 1. Crisis of Welfare State At the end of the 1970’s, the welfare state moved into crisis (OECD, 1981; Rosanvallon, 1981). As the period of high economic growth ended and stagflation appeared, governments couldn’t afford the social expenditure which had been expanded before. Fiscal deficit appeared and unemployment rate started to increase with economic depression. The idea shared byRead MoreThe Politics Of Welfare Reform Moving From Afdc To Tanf1769 Words   |  7 Pagesï » ¿ Welfare Issues Changes and Responses to Change The politics of welfare reform moving from AFDC to TANF It is easy to see that the politics that led to the adoption of AFDC as a social program and policy and the way in which AFDC expanded was quite radically different from the political trends that led to the welfare reform of 1996. And in discussing welfare state retrenchment Paul Pierson makes what seems to be an argument based on semantics as much as substance. It takes him several pagesRead MoreFisher Paykel Healthcare6497 Words   |  26 Pagesand Supplies Industry 10 4. The OSA (obstructive sleep apnea) market 10 VII. Significance of stakeholder analysis 10 VIII. Organisational Strategies 11 1. 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For example, what is considered rural in a place like United States of America and United Kingdom may not resemble what is considered rural in a place like Nigeria and other West Africa countries. However, for the purpose of this paper

Enterprises System

Question: What are the different issues can emerge in post-implementation phase of ERP implementation? How these issues can be rectified and avoided in future implementation/s?What are the different critical success factors in different types of implementation, particularly in ERP upgrades and conversation to different ERP systems? How they can help in successful implementation?What are benefits arising from the use and integration of DSS/BI/Business Analytics with ERP systems? How these benefits can be achieved?What are the potential risks in using ERP implementations and implications for security, audit and control? How these risks can be prevented and corrected? Answer: Introduction From hardware and software to go down organizations, associations spend enormous measure of money on ERP systems. There is little edge for slip when test such a basic cash related obligation. In case work due dates slide or the ERP system does not act as arranged, it can quickly annihilate business decision making, profit and adequacy. ERP endeavours are striking for high falling level rates. Associations are consistently under unprecedented tension to complete ERP assignments concentrated around confined plans and costs, so corner-cutting and issues habitually happen. This can provoke excessive issues in the midst of the execution system, which can continue proceeding with long after go-live. Portrayed in this record are some ordinary dangers that happen in the midst of the ERP execution framework and suggestions for dealing with them (Benbasat, 1987). Different risks of ERP implementations ERP frameworks are planned to upgrade the stream of information all through the business, and improve correspondence and decision making. Yet a champion among the most discriminating and as regularly as could be allowed seen dangers to project achievements is no correspondence and bit by bit decision making among key clients, for instance, master control, association technique business visionaries, the IT association, and similitude. One clarification behind insufficiency of relationship by clients is the view that an ERP execution is basically an "IT project." And routinely, fundamental association procedure representatives are assigned commitment for dealing with all variables of the system, from directing structure arrangement to go-live, paying little mind to the way that they have alongside zero experience as project directors or understanding of ERP methods (Buonanno, 2005). ERP use should be considered as a business-driven effort that will have a long term influence on how the association qualities. Without request, capable interest in decision making is fundamental to achievements. There should be a controlling board with full become capable reflection from the association extents affected by the execution. The controlling block should get predictable dates on the project and be inspected by the project pack when key issues or choices can't be settled by the project cluster. Likewise, controlling board parts routinely have essential impact in help and helping the association system representatives involved with the ordinary activities of the ERP execution (Eisenhardt, 1989). The running board is fortified by a project control programming office (now and again called a PMO), which should be watched out for by experienced project chiefs with clearly depicted responsibilities. Far reaching ERP executions, while generally viewed as one project , are truly a trapped web of a couple of, dependent assignments that may join by and large diverse aptitudes, for instance, applying mechanical bases, making the new association systems or setting up countless customers. The bit of the PMO is to offer a typical messages structure and a project framework for running the execution. A project strategy that gives focuses on the social event can manage, and recognizes the conditions between the distinctive get-togethers possessed with an execution, is an exchange key to achievements (Gargeya, 2005). Other urgent idiosyncrasies of the PMO join offering a joined approach over the project for source organizing, issue quality, position certifying, and purchasing and spending ar rangement. In case no official decision endeavouring wins from the most punctual beginning stage and project managers or method representatives don't feel motivated to settle on choices, discriminating measures of time can be lost looking at issues, inciting defective alternatives. For example, the overseeing board needs to offer "tone at the top" with respect to the re-planning and association objectives of the project. Without this help, it is ordinary for a couple of get-togethers to take an interest in a "vanilla" execution of the ERP task, while diverse social events make forceful, and every now and again immoderate, systems asking for broad personalization of the base ERP program. Every association is assorted, so an immaculate level of project control programming and master support will depend generally on the current lifestyle and some experimentation by clients to make sense of what meets design (Gattiker, 2005). Rectification of the issues Genuine development of project routine and plan ERP executions can don't succeed in light of the way that associations slight the measure of the test and make a project system with an unlikely datebook that results in no concurrent to give setbacks due to try and irrelevant startling conditions. To be totally straightforward, these "inquiries" can realize basic project overpowers, as the conditions between diverse execution practices by and large substance routine slipping and source costs in light of the way that accomplices are not successfully utilized. Orchestrating and dealing with targets are urgent accomplishment variables for the execution of a productive ERP project routine and perform framework. While its essential to consider source racing to ensure the social affair is prepared to handle the project , it is to an incredible degree hard to keep up a completely resource balanced strategy at the task level for a considerable ERP execution (Kim, 2005). Affiliations regularly find the privilege alter by making pressing focuses around which all the related social events on a project can system. Bunches should make a perform system concentrated around these objectives, and after that handle their chance, standard and resourcing to fulfil those vital ends. This grants control the threat made by conditions between perform sources, including to routine and cost slippages over the project. The PMO and controlling board together have critical effect in recognizing the pace of issue quality and decision making imperative to help the project standard by making energetic, educated and at times serious choices. Affiliations need to make and take after an affirmed project plan that completely sees the unpredictability of ERP framework personalization moreover allows organization focus on execution of venture tricks the business needs most generally instantly (Laudon, 2011). Change Management inside the organization The effect the customer bundle has on the general achievement of an ERP program execution should not be ignored. An ERP plan will change over how individuals perform in the association, making their exercises significantly more joined and clear. Current association systems are inclined to conform or even wound up unnecessary, as may the obliged individual masters (Leidner, 2006). "Change management" is a sorted out framework to adjust in an association. It is essential to offering structure for the workforce's change and endorsement of the ERP program. A run of the mill stumble is to consider modify control as simply setting up. A power "change management" approach should be delivered and a social event created to perform all through the ERP project life-cycle to help conform control issues joined to the system's execution (Liang, 2007). The "change management" technique should begin right on time to make thought over the association of the ERP execution project , its expected benefits, and the effect it will have on individuals, systems and advancement. Later, as viable social affairs are making and securing new association methodologies, the get-together can be a segment in making thought of how diverse wanders and steps in the system sway occupation style and business framework. The knowing of new technique, positions and endeavours is key to the style of a viable penetrating framework and strategy (Nah, 2003). Involvement of appropriate organization An exchange danger area in the midst of the ERP execution system is nonattendance of fitting duty from the running spots of the association. Each business method on an enormous execution should have a technique proprietor whose full-time occupation is the achievement of the ERP execution. Process representatives should be roused to settle on gainful choices about the "to-be" business methods, and for scrutinizing, assessing and issue quality. In gigantic associations, the framework proprietor part may become continuing, advancing on after execution to give overall decision making, issue quality and government for models performing inside the same ERP system (Newell, 2000). Powerful associations formally exchange technique business visionaries and distinctive resources from their business places into ERP assignments full-time and work through the related trim, settlement and calling headway sways. Various associations use persuasion ventures to ensure assurance of key masters and improve their commitment all through the ERP execution. Venture on a colossal ERP project can improve the reasons for living of high specialists, as they have detectable quality and contact with master organization and include on the association technique (Saunders, 2003). Testing for primary company procedures Testing is significant to ERP execution accomplishment, yet it is habitually the level where associations decide to take procedures to fulfil the sorted out go-live date. The central level of testing, frequently known as contraption testing, joins testing individual dealings and sub structures in a stand-alone plan to check the structure is meeting all recorded points of interest and is going about as expected. This level of testing often takes longer than sorted out, inciting absurd weight of the most crucial levels of testing, which are user acceptance testing (UAT) and integration testing (Shehab, 2004). Integration testing is often the most confounded and fulfilling level of an ERP project. When it is feasibly finished, the social affair turns out with affirmation that the ERP course of action will work, and they are restless to analyse it with the association. A couple of tricks of a suitable merging analyse technique include: Commitment of the association to concentrate full end-to-end testing circumstances that mimic real business trades Reported analyse scripts Usage of explore data that has been transformed from the legacy structures using the change resources and operations Diverse interpretations of look at execution, persistently dealing with issues and issues that improved the disperse nature of separate circumstances completed A predictable dismember environment point to compelled change control Usage of end customer access security positions to perform later levels of testing Data Conversion In an ERP execution, the data conversion and respect get ready frequently is not effectively formed and will take a more amplified period than expected. Associations need to appreciate the subtle elements of information change and proactively evaluate its potential effect on the execution plan. Applying current legacy information sections and reaches to the new atmosphere can be depleting and drawn out. Game plans should be made to fresh up information in the legacy environment before transforming it over to the new program (Willis, 2002). Data conversion undertakings and resources need to be examined carefully through resulting surf of thought changes that portray the ability to fill information into the undertaking sublimely. Data conversion should be checked by association customers who can acknowledge their precision. Logical testing frameworks are oftentimes used to support the appraisal of a considerable measure of information. Considering the design of the new ERP system, client information was to be dealt with midway by a little number of customers; thusly, a tremendous information clean-up action was vital to get arranged the client data hotspot for change. Furthermore, it was vital to centre an organization framework and likewise association strategies for central get to and control of the client information an effort that progressed into an individual project unto itself (Akkermans, 2002). Technical facilities and advancement There is an arrangement of purposes of investment some ordinary in a power risk evaluation, some not that can hold up or for the most part test the achievement of an ERP execution. Conventional issues include: Needing data trade from the framework integrator to the long term help bunch Framework and organization level issues joined with improving or outsourcing of server ranches Inadequate resources selected for predominant demand on middleware and interface architectures Concentrated on venture or lacking data trade usage, especially at unavailable objectives, due to needing volume and tension examining of the base Lacking particular change organization structures Lacking or befuddled association a persevering and disaster recovery plans Regardless of an affiliation's best exercises to apply an ERP plan with little personalization, there will just about constantly be determinations made from the association that require adjusted improvement. These embody reviews, affiliations, change tasks, code expands and sorts. Binding personalization is a key obstacle to productive ERP execution (Al-Mashari. M.. Al-Mudimigh, 2003). Concedes in the finishing modified improvement are a standard reason behind general project setbacks, as they cut off the ability to perform influential solidification taking a gander at. In this way, a methodology should be set up to guard distractions from standard execution gave in the pack. Moreover, changed improvement should take after the system development life cycle (SDLC) and insistence particulars expected by the affiliation. Specialists may not completely fathom these targets, and insufficiencies here are a progressive finding in project hazard review (Bajwa. D., 2004). Regulations, controls and security On the off chance that there is nonappearance of focus on interior administers and similitude particulars in the midst of the ERP execution, associations can without a lot of a stretch end up running live with a program that later obliges additional attestation and revamp at discriminating expense. For example, various framework integrators are not familiar with Sarbanes-Oxley points of interest, and appropriately, those particulars are not regarded or said with the association around the beginning of the execution. Since framework leads and accomplices are not frequently authorities in the specific parts of ERP, it is outlandish they will know whether a style is inadequate or deficient from a closeness viewpoint (Bingi. P., 1999). Security regulates, for instance, seclusion of commitments and delicate openness, are a key thought for internal manages and ERP. Not simply should end customer accessibility be animated by a disconnection of commitments and touchy openness thought set that has been recognized by both internal and external surface evaluation, yet the arrangement of the certification positions should similarly be made in a way that is versatile for the affiliation's necessities. Various associations keep away from the essentialness of truly making ERP customer accessibility protection, making customers with an unnecessary segregation of commitments and no genuine approach to murder openness without performing an excessive overhaul project. Likewise, some high-risk segregation of commitments issues will need to be lessened with paying helper administers, thusly extending the expense of congruity (C., 2004). Controls should in like manner be regarded in the style of association techniques. ERP structures are exceedingly configurable, and the project social affair will settle on choices about the foundation of strategies that have a broad impact on inner administers. These modernized supervises inside every one association system, for instance, comprehension levels, contract recommendations and acknowledgement examinations, will decrease the amount of helper organization practices that need to happen (Yang. C, 2006). Diagrams include: Controls that keep away from copy portions to shippers Safety levels and acknowledgement assessments in the three-way match process Overview and acknowledgement of assistant costs and issuance of customer credit updates Overview and acknowledgement of generation records concentrated around arrangement of power structures A primary practice on ERP executions is to see a controls amass that is legitimately bit of the project affiliation structure. This social event performs over the project, captivating with the technique bundles, security assembling and planning get-together to help ensure inward organization and similitude subtle elements are seen, made into the task, recorded and investigated. The supervises gather in like manner performs on the outside to the project , executing as an association with internal and external surface appraisal to help give conviction and confirmation that inward directs are being resolved in the execution (Krasner, 2000). Conclusion and recommendation Associations, particularly those encountering an ERP execution shockingly, can advantage from having an external surface source to help make an execution hazard appraisal strategy by overseeing organization to see, watch and minimize key dangers. ERP execution experience and data of normal dangers and genuine methods are essential to the achievements of the project (Umble. E. and Umble, 2002). A run of the mill strategy is to perform a progression of project danger tests that genius with the genuine objectives of an execution. This gives the ability to survey the change of fundamental work sources through every one phase of the project and to standard the danger minimization change against prior emotions. Functioning as organizations prescribe, this execution threat emulating work can help to ensure ceaseless concentrate is supervised all through all periods of the ERP project life-cycle diagram, manufacture, and breaking down and go-live on dangers that can perhaps challenge accomplishment. References Akkermans, H. a. (2002). Vicious and VirtuousCycles in ERP Implementation: A Case Study of Interrela-tions between Critical Success Factors. European Journalof Information Systems, 35-46. Al-Mashari. M.. Al-Mudimigh, A. a. (2003). ERP: ATaxonomy of Critical Factors. European Journal of Op-erational Research, 352-364. D., M. T. (2004). An Integrative Framework For The Assimilation Of Enterprise Re-r source Planning Systems: Phases. Antecedents. And Out-comes. Journal of Computer information Systems, 81-90. Benbasat, I. G. (1987). The case research strategy in studies of information systems. MIS Quarterly, 369-386. P., S. M. (1999). Critical Issues Affect-ing an ERP Implementation. Information Systems Management, 7-14. Buonanno, G. F. (2005). Factors affecting ERP system adoption: a comparative analysis between SMEs and large companies. Journal of Enterprise Information Management, 384-426. , H. S. (2004). TransplantingThe Best Practice For Implementation Of An ERP System:A Structured Inductive Study Of An International Company. Journal of Computer Information Systems, 101-110. Eisenhardt, K. (1989). Building theories from case study research. The Academy of Management Review, 532-550. Gargeya, V. a. (2005). Success and failure factors of adopting SAP in ERP system implementation. Business Process Management Journal, 501-516. Gattiker, T. a. (2005). What happens after ERP implementation: understanding the impact of interdependence and differentiation on plant-level outcomes. MIS Quarterly, 559-585. Kim, Y. L. (2005). Impediments to successful ERP implementation process. Business Process Management Journal, 158-170. Krasner, H. (2000). Ensuring e-business success by learning fromERP failures. IT Pro, 22-27. Laudon, K. C. (2011). Management Information Systems: Managing the Digital Firm. New Jersey: Pearson Custom Publishing. Leidner, D. a. (2006). Review: a review of culture in information systems research: toward a theory of information technology culture conflict. MIS Quarterly, 375-399. Liang, H. S. (2007). Assimilation of enterprise systems: the effect of institutional pressures and the mediating role of top management. MIS Quarterly, 59-87. Nah, F. Z. (2003). ERP implementation: chief information officers perceptions of critical success factors. International Journal of Human-Computer Interaction, 522. Newell, S. S. (2000). A knowledge-focused perspective on the diffusion and adoption of complex information technologies: The BPR example. Information Systems Journal, 239259. Saunders, M. L. (2003). Research methods for business students. Essex: Pearson Education. Shehab, E. S. (2004). Enterprise resource planning: An integrative review. Business Process Management Journal, 359-386. E. and Umble, M. (2002). Avoiding ERP implementation failure. Industrial Management, 25-34. Willis, T. H.-B. (2002). Extending the value of ERP. Industrial Management Data Systems, 35-38. C, T. P. (2006). A Study of the Factors Impacting ERP System Performance from the Users' Perspectives. Journal of American Academy of Business, 161-167.

Lincoln Electric Case free essay sample

John C. Lincoln founded the Lincoln Electric Company in the year 1895. The first products that the company produced and sold were electric motors that he had designed himself. A Few years later, in 1907 his brother James, a recently graduate from the Ohio State University, joined as a senior manager; He was also the one who would introduce different and very innovative human resource policies over the next few decades. These policies included things like employee stock ownership, the creation of an Employee advisory board, as well as piecework pay. Most of these ideas were later adapted as standard US wide practices. The Welding business, which not really was one of the main focuses of the Lincoln Electric Company, became the main source of income by 1922. Welding which a special technique of -under heat bringing together different sources of metals. It is used for basically most of the industrial areas, from pipeline manufacturing to petrochemical complexes. We will write a custom essay sample on Lincoln Electric Case or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page From 1986 onwards, the company pursued a course of extensive internationally expansion. This was started already way earlier in 1933 first, with the establishment of the Lincoln Electric Company in Australia and in 1953 with its expansion to France. However, from the mid 1980s onwards, Lincoln Electric expanded its manufacturing operations into 16 countries. This expansion peaked in 1995, when the company reached the $1 billion in sales the first time. It was also the year Lincoln began to trade its shares on the American stock market the NASDAQ. By 2005 it became the worlds leading manufacturer in the welding industry. Nowadays, (Dec. 31 2010) Lincoln Electric has net sales of $ 2,070 million. Why go abroad? As the Lincoln Electric Company’s idea and concept proved to be successful in the US from the 1930s onwards, it also operated outside of the country. Due to its success in its home market, the companies’ management was able to first gain enough market knowledge in order to enter new markets were a certain proficiency is required. Nevertheless, as markets and industries around the world differ in to each other (e. g. onsumer tastes) the best idea was for Lincoln Electronic to first enter a market were the so-called â€Å"Psychic Distance† is not so high and less uncertainty. Therefore Australian was chosen, as this is psychological wise not so far from the Home / US American market. This phenomenon can be seen in the Uppsala Model. It includes four different steps, from first acquiring experience in the home market to wholly owned international operations. This will be explained in more detail later. However, as we can see in the Lincoln Electric case, the company first gain sufficient knowledge in their home market and later expanded internationally. But step by step further away (political, language and culture wise) from its home market. Uppsala Model Looking at the process of internationalization of Lincoln Electric, most of the facets of the Uppsala Model can be identified. So, this entry mode theory is most applicable in our opinion. In this section, we will elaborate upon the internationalization of Lincoln Electric while applying the stages of the Uppsala model. During the first stage companies tend to solely gain experience of their domestic markets. In the case of Lincoln Electric, it can be stated that it mainly focused on becoming the leading manufacturer in the United States. Core competencies are most important for the success of an MNE and for all companies those core competencies are their higher-order firm specific advantages (FSA’s). In this first stage of the Uppsala Model we will try to recognize all the FSA’s of Lincoln Electric. The first FSA is the company’s human resource policy, in which many facets can be recognized that provide productivity advances and which results in a variability of 60 percent of the personnel costs. Those facets are performance-based rewards, employee stock ownership, a piecework payment system, and bonuses based on company profits. Another FSA is that the company cuts costs in acquiring personnel, and simultaneously keeps holding a very well experienced and integrated workforce by building trust among the employees with policies like an employee advisory boards, employee suggestion systems, annuities for retired employees, group life insurances, and a no-layoff policy. The third recognized FSA is the company’s RD program; this program is the most aggressive, comprehensive and successful in the welding industry. This FSA led the company in new market introductions and quality performance. Fourthly, an important FSA for consumer relations is the ability to provide full welding solutions. The company is able to provide this due to the fact that it manufactures both arc welding equipment and consumable products. Summarized, the core competencies which provide the company with competitive advantages are the ability to cut personnel costs, the highly trained technical sales force, and the ability to provide excellent service for customers. The second stage in the Uppsala model states that the firm begins to operate abroad in a nearby market, and then slowly penetrates far away markets. When applying this to Lincoln Electric, it can be seen that the company encountered its first international experience in countries such as Canada, Australia and France in the 1940’s. These countries have a small psychic distance from the United States, therefore, the market uncertainty is perceived as low. Canada, Australia and France are psychically nearby, because issues with regard to trade unions, labour practices and laws are treated similarly in those countries. Furthermore, Canada and Australia are linguistically similar to the United States, and all the previous countries are western countries, so the cultures are not significantly different. Lincoln Electric started its first major international expansion between 1986 and 1992. It then increased its presence into 15 other countries, which were acquisitions in Venezuela, Mexico, Brazil, Scotland, Norway, the UK, the Netherlands, Spain, and Germany. However, this expansion was a real failure, the company faced difficulties due to executives’ inexperience with trade unions and their lack of knowledge of labour practices and laws in other countries. The company’s aim was namely to operate the new acquisition in Lincoln USA’s image, however they learned from this experience and as can be seen in stage four, their renewed global expansion is much more improved. The third stage of the Uppsala model states that companies tend to enter markets through export, instead of using sales or manufacturing subsidiaries of their own. However, this does not suit Lincoln Electric due to the fact that it is too costly to ship welding products because of their weight. It was for Lincoln Electric and other companies in the welding industry essential to set up a local or regional production facility. Therefore, Lincoln Electric had to instantly set up sales or manufacturing subsidiaries of their own without starting with solely exporting. In the fourth stage it is said that a company establishes wholly owned or majority-owned operations only after several years of experience. This can also be recognized as being the case with Lincoln’s internationalization. In 1996 their renewed globalization strategy started. This is characterized by many joint-ventures, acquisitions and start-ups over the world. Between 1996 and 2004, many expansions have been completed. At the end of this expansion period, the company tried to gain majority or wholly ownership in many of their acquisitions and joint-ventures, because they experienced that they could not fully control their operations in the way they wanted it. Attractiveness of India One of the most significant questions in the global strategy field is how multinational firms should navigate their way through multiple and often conflicting host-country institutional environments (Ghoshal and Westney 1992, Morgan et al. 2001). This is no different for Lincoln Electric who faced some problems while expanding overseas. When crossing borders, opportunity is mostly the driving force behind the expansion. Between 1986 and 1991, Lincoln took on unprecedented debt in order to finance foreign acquisitions, mostly in Europe. They initially had a lack of international management skill, and did not take into consideration local environment in each country when expanding globally. This was caused because not all of their firm specific advantages (FSA’s) where as transferable as they had hoped. For instance the incentive system that works very well in the U. S. did not work in European countries with different working environment and ethics. Lincoln had already tried to penetrate the Asian market before landing its eye on the India. Theoretically, a country will be attractive to a foreign investor if, in investing in that country, the investor gets a return that is equal to or higher than their risk-adjusted weighed cost of capital. (Urkude and Seshanna 2008) So how attractive is India for Lincoln Electric. With assessing a countries attractiveness two main categories can be distinguished: Country Risks, Market Opportunities and Industry Opportunities. For Lincoln there is only one country risk which is corruption, for the rest India is a stable, fast growing country with a solid political system. World Map Index of perception of corruption 2009i However there are a number of market opportunities. India’s infrastructure is still underdeveloped, and therefore demand for welding products is increasing with the upcoming construction and infrastructure activity in the next couple of years. Import sales to India were up by double digits in 2006, driven mostly by orders from the pipe mill and pipeline sector, and more recently from the automotive sector. (Lincoln Electric annual report 2008) The growth of the welding industry is similar to the growth of the entire economy of the particular country, and for this reason India makes an attractive opportunity. As seen in the graph below India’s GDP has grown dramatically over the last couple of years, and it is expected the welding industry will grow among these lines as well. India’s market is quickly growing as shown in the graph on the right. Not only the population but also GDP and exports. And the one below shows that the industry sector is coming on as well. For this reason the welding industry will benefit from the economic growth and be in the lift as a lot of these new construction projects require welding consumables. Industry opportunities lie in India as well, as demand for steel declined all over the world, it grew in India by as much as ten percent. (Frost and Sullivan 2010) But India is also a highly competitive market as 56 percent of welding consumables were being produced by large firms that had developed their own technology and 44 percent was being produced by a number of small firms that immediately tried to copy the large firms, as soon as their product became available on the market. So for Lincoln to be successful, they would have to keep innovating their products and make it hard for others to copy their products. Another point of interest is that with the welding market booming, a high price would have to be paid if Lincoln would want to enter the market by acquisition. This making it difficult for new entries in the market, but the two other options which are a joint venture and building an own factory are as much appealing as an acquisition. Lincoln already had some experience with joint ventures in China, but had trouble with the joint decision making that came with it. And with building their own factory they would have to weigh off the benefit off total control towards the starting up costs of the factory. The Indian government had also granted some fiscal and financial incentives by setting up tax-free zones and increasing the foreign direct investment (FDI) percentage in the aviation and real estate sector, which could generate a high demand for welding equipment. Overall it can be said that India is a very attractive market for Lincoln Electronic if they can get into the market either via acquisition, a joint venture or by building their own factory. Advice for Management The advice we would give the managers from Lincoln Electric, to help them to continue enhancing their market share and improve their geographical dominance in the welding industry is to acquire a smaller welding company. An option, which Lincoln Electric should consider is the case of ESAB, as, mentioned in the case â€Å"In 2000, ESAB had agreed to be purchased by Lincoln Electric for 750 million plus the assumption of $300 million in ESAB’s debt. Yet Lincoln Electric decided that same year not to go forward with the acquisition after antitrust and other issues arose in the due diligence process. † Even though these plans fell through, Lincoln Electric should reconsider purchasing ESAB, since it represents 75% of revenues of its parent company Charter, which is European- based company with a large global presence. ESAB India, which is part of ESAB, is also one of the main competitors of Lincoln Electric in India. Therefore, if Lincoln Electric could dissolve the antitrust problems and other problems that arose in the due diligence process, they will be able to acquire ESAB and to double their market share. To enforce the market share dominance of Lincoln Electric globally, an acquisition with a company like ESAB would be economically profitable. Analyzing the graph below, an acquisition with Lincoln Electric and a smaller company would create a welding market dominance. This will result in other competitors being left with a smaller market share due to a much larger dominating competitor. In this case, Lincoln Electric has the opportunity to purchase ESAB or another smaller welding company due to the high profits from the profitable US market. Because of that opportunity we would advice them to purchase and expand by means of increasing their market share by purchasing a competing company.