Charles Goodyear Research Paper Example | Topics and Well Written Essays - 1750 words

Charles Goodyear - Research Paper Example In truth, his story is an inspirational application of scientific principles to economic reality, with Goodyear’s frequent and often futile attempts to secure capital to apply his ideas to abundance in everyday life. However, only after his death would rubber become an everyday product and a massive industry of production. In 1898, Goodyear Tire and Rubber Company took Goodyear’s name in commemoration of his achievement. Thus, even though Goodyear never applied his invention to the mass market as other great inventors did in 19th century America, it is still fair to say that Goodyear lived the American dream of experimenting with science to better mankind. Goodyear was born in New Haven, Connecticut on December 29, 1800 to a well-respected, upper-class family. In 1814, the teenage Goodyear left for Philadelphia to learn about industry; returning in 1821, Goodyear entered into a partnership in his father’s business producing various metal-based products. Three years later, Goodyear married Clarissa Beecher and together they moved to Philadelphia where Goodyear, having left his father’s business, opened a general hardware store. He sold agricultural products imported from England. Within a few years, his business was thriving, and by 1829, he had amassed quite a bit of wealth. In 1829, however, his health declined due to a case of dyspepsia, a disease that attacks the digestive system and causes chronic pain in the upper abdomen. Around this time, his business failed as well; eventually, he was forced to close a number of stores. After his health returned, Goodyear undertook a project that would form the basis of his lifeà ¢â‚¬â„¢s work: the vulcanization process of rubber (Peirce). In 1831, Goodyear began researching gum elastic. He experimented with the best method to make rubber; he produced tubes to show to the Roxbury Rubber

Business in Emerging Markets Essay Example | Topics and Well Written Essays - 2500 words

Business in Emerging Markets - Essay Example The Multinational Companies (MNCs) that have experience in working in developed markets have started to drift their interests towards emerging markets such as Latin America, Asia, Africa and the Middle East. This is because they have attained a saturation point in these wealthy developed economies and condensed their profit margins (Arnold and Quelch, 1998). These economies offer a lucrative ground for investments mainly due to their potential client base and a significant perspective for growth in the future. Emerging markets are usually characterized by a record of recession and economic depression and a stagnant economy. These economies exhibit a political scenario of unrest and turbulence, an aging population, low fertility rates and slow growth rates in the industrial sectors. However, these markets provide some of the peak economic growth indicators and give way for the MNCs to step in and expand their markets (Rahman and Bhattacharya, 2003). According to Rahman and Bhattacharya, there are typically three criteria that define a developing nation as an emerging market. The first one is that the nation identified as an emerging market should have a promising potential to return large profits and economic growth in the future. Second, the nation needs to be open to overseas investments and should have economic policies that promote foreign investments. Also, this exposure to foreign investments and the related policies should undergo continuous evolution so as to foster further investments and hence, greater economic growth.