The Contribution of the Luxury Fashion Industry in Economic Development of the World

Introduction From time in memorial the fashion industry has made significant impacts to the politics, economy, education and art of various cultures. Today, as illustrated by Brun et al. (2008 p. 558), it marks as a significant element of increasing globalisation.Advertising We will write a custom research paper sample on The Contribution of the Luxury Fashion Industry in Economic Development of the World specifically for you for only $16.05 $11/page Learn More Furthermore, Brun et al. (2008 p. 548) brings out the significance of the industry with a meaning of luxury as opposed to asserting that the products and services are exclusive to the wealthy and powerful in the society. Luxury is a ‘soft or extravagant living, sumptuousness, opulence’’. In the ancient times, the colours and features of the clothes worn indicated the social and political classes of the people and expressed the power vested in people who adorned certain clothes or apparel. In 21st Century, it is essential to note that not much has changed in this regard. The luxury fashion industry is marked by willingness to spend to get the best outfit that builds expression, perception and recognition. In essence, from an economic point of view where costs are minimized to get higher profits, developing and managing the luxury fashion brand is a difficult and long process. Notwithstanding, getting their contribution to economic development and growth requires a consistent, integrated, innovative and rigours strategy. With such controls, obtaining feedback auditing and other relevant information is significant in this endeavour. Various authors and researchers have tried to estimate the fashion industry growth and its significance. For instance, Datamonitor (2009) have put down that the global luxury fashion sector is estimated to be worth about US $ 130 billion with an annual growth rate of approximately 20%. The global fashion industry significance to the national economies is fundamental in their consumers. As such, their growth is inevitable. However, the gap exists, other than the industry growth and development, but the contribution to economic development and growth of the world is missing. The industry is dominant in countries like the United States of America, Spain, France, China and Italy.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This fact does not disqualify its presence and active contribution to the GDP of other countries. However, enough data, justification, input and CPIs with regard to its contribution in economic growth and economic development of the world pushes the researcher to this determination. This information will have a fundamental impact in the level of reliance to the luxury fashion industry sector. Again, it will open the market for more countries to channel or withdraw their resources to or f rom the industry. Hypothesis Null Hypothesis The fashion industry has very little contribution to the economic development of the world. In essence, the luxury fashion industry has no significant contribution to the economic development of the world or the economic growth. Alternative Hypothesis The fashion industry contributes significantly to the economic development of the world economy. This means that the luxury fashion industry has a major impact in the economic development of the world as well as the economic growth. It is therefore critical that we determine, through scientific methods and approaches, the level of contribution of the luxury fashion industry to economic development of the world. This indicates the critical quest for an effective study as a secondary invention to go through the world national economies as well as its commercial industry. Methodology The study will involve use of qualitative and quantitative research. Thus, assume the research design on data us ed. According to Sounders, Lewis Thornhill (2003), the deductive approach will be used to determine the quantitative data. On the other hand, the inductive approach will be applied in measuring and ascertaining the qualitative data. As such, the literature review will involve evaluation of secondary data in an effort to rely on empirical evidence and utilise the necessary concepts. Subsequently, analysis of the field research data shall be undertaken to focus on the objective of the study (Sounders, Lewis Thornhill 2003).Advertising We will write a custom research paper sample on The Contribution of the Luxury Fashion Industry in Economic Development of the World specifically for you for only $16.05 $11/page Learn More Presuppositions of the ethical neutrality shall be considered while collecting data with adequate and correct placement of statement on the population objects being the MOschino following the probabilistic predictions. The field data wil l be from MOschino Fashion Company since it is the most dominant company in the international scale. Again, its products are used all over the countries. As such, reviewing of its data on sales, imports, exports and exchange of goods will have a sense of input or output from over 80% of the world nations (Sounders, Lewis Thornhill 2003). Results It is quite evident that the luxury fashion industry is dominant from the international scale marked with cross border international business. The development from the general scale is influenced by the frequency of the luxury fashion industry. It revealed that during the year 2009 to 2012, the global luxury fashion sector (on MOSchino statistics, and financial statements) is estimated to have transacted a turnover of about US $ 100 billion with an annual growth rate of approximately 12%. Discussion and conclusion A turnover of about US $ 100 billion with an annual growth rate of approximately 12% within three years is a big figure. This ind icates a significant contribution of the fashion industry sector to the economic development and growth. As such, the researcher is left to refute the null hypothesis that the luxury fashion industry has not contribution to world economic development. Rather, the researchers agrees to the alternative hypothesis that the fashion industry contributes significantly to the economic development of the world economy. References Brun, A, Caniato, F, Caridi, M, Castelli, C, Miragliotta, G, Ronchi, G, Sianesi, A, Spina, G (2008). Logistics and supply chain management in luxury fashion retail: Empirical investigation of Italian firms. International Journal of Production Economics. Volume 114. Issue 2 pp. 554-570.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Sounders, M, Lewis, P, Thornhill, A (2003). Research Methods for business students, 3rd ed. Prentice Hall, Pearson education limited: Italy. Datamonitor (2009). Clothing and footwear-Italy. Web. This research paper on The Contribution of the Luxury Fashion Industry in Economic Development of the World was written and submitted by user Desiree Holder to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Why Spanish Uses EE. UU. as Abbreviation for U.S.

Why Spanish Uses EE. UU. as Abbreviation for U.S. Once you learn that Estados Unidos is Spanish for United States, you might predict that its abbreviation would be EU, just as we often use U.S. (or USA) in English. But the standard abbreviation is EE. UU. The Rule for Plural Abbreviations Although the abbreviation may seem unusual to Spanish students, abbreviations like it are common in standard written Spanish when shortening plural forms. Although the use of the periods in the abbreviation is standard usage and considered mandatory by some authorities, it isnt unusual to see the abbreviation without the periods: EEUU or EE UU. Sometimes the abbreviation EUA (for Estados Unidos de Amà ©rica) is used, and even USA can be found in trendy circles. Basically, the doubled letters (such abbreviations are called abreviaturas dobles in Spanish) are used to indicate that the main word abbreviated is plural. However, such a doubling of letters isnt if the plural word isnt the main noun in the phrase. For example, Organizacià ³n de las Naciones Unidas (United Nations) is ONU (U.N. in English.) The main noun here, the one that gives the phrase its gender, is singular: organizacià ³n. The doubling of letters comes from Latin, which explains some of the double-letter Latin abbreviations used in English also, such as pp. for pages and mss. for manuscripts. Identical abbreviations are used in Spanish: pp. for pginas and mss. for manuscritos. (Also commonly used is pgs. for pginas.) Such doubling is used typically when a single letter stands for a word. It isnt used used for most other abbreviations. For example, while ejemplo (example) can be abbreviated as ej., the plural form (that is, for examples) is ejs. Similarly, while usted (singular you) is abbreviated Ud., its plural form (plural you) is Uds. One of the exceptions is that the abbreviation for Buenos Aires (the city in Argentina) is Bs. As. Other Doubled Abbreviations Here are some of the other Spanish abbreviations that double the letters in the same way as EE. UU.: AA. PP. for Administracià ³n Pà ºblica (public administration)aa. vv. or AA. VV. for autores varios (various authors); VV. AA. and vv. aa. are also usedAA. VV. for asociaciones de vecinos (neighborhood associations)CC. AA. for comunidades autà ³nomas (self-governing communities)CC. OO. for comisiones obreros (labor commissions)DD. HH. for derechos humans (human rights)FF. AA. for Fuerzas Armadas (armed forces, used in Spanish and several Latin American countries)FF. CC. for ferrocarriles (railways or RR)FF. DD. for Fuerzas de Defensa (Defense Forces, used primarily in Panama)RR. HH. for Recursos Humanos (human resources or HR)RR. PP. for Relaciones Pà ºblicas (public relations or PR)JJ. OO. for Juegos Olà ­mpicos (Olympic Games)RR for reverendos (Reverends, Revs.)ss. for por siguientes (as follows, the following)SS. AA. for Sus Altezas (Your Highnesses)SS. HH. for Servicios Higià ©nicos (sanitary facilities, such as restrooms)SS. MM. for Sus Majestades (Your Majesties) Other Unusual Abbreviations Spanish also has a few common abbreviations that use punctuation (other than the period) or superscripts in ways that English doesnt. The more common ones are listed below; in many cases, more conventional forms are often used in addition to these. arto  for  artà ­culo  (article in legal documents)Bo  for  barrio  (neighborhood)Cà ­a  for  compaà ±Ãƒ ­a  (company)c/u  for  cada uno  (apiece, per unit)com.à ³n  for  comisià ³n  (commission)desct.o  for  descuento  (discount)N.a  S.a  for  Nuestra Seà ±ora  (Our Lady, referring to the Virgin Mary)s/f  for  sin fecha  (no date given)s/l  for  sin lugar  (no place given)s/n  for  sin nà ºmero  (no number given) Additionally, there are some forms such as  Abg.da  and  Dr.a  that have been used to refer to a female lawyer or doctor, respectively, although these are growing in disfavor. Key Takeaways The standard abbreviation for Estados Unidos (United States) in Spanish is EE. UU., although variations are sometimes used.The double letters are used in some other abbreviations as well when a single letter standards for a plural of the main noun.Some Spanish abbreviations use slashes and superscripts.