Historical Perspectives: Benefits, costs, and impact of free international trade Essay

Our world has become a village and the globalization movement has picked up momentum requiring governments and individuals alike to adapt to these changes in the understanding that their growth or indeed survival depends on it. Globalization has been fuelled by a consistent practice of free trade whose growth necessitates breaking down several legal and fiscal barriers in order to make cooperation easier and flow of capital and investments across the globe more effective. Growth of companies and increased competition requires that companies seek markets in foreign countries and mutual benefit dictates that bilateral efforts between trading partners be equal and for that an abolition of significant reduction of tariffs and licenses becomes mandatory. Free trade therefore has led to the adoption of capitalism across the globe with only a small fraction of countries still clinging to communism as a form of economy (Bhagwati 2002). However, free trade was not always the preferred form of a market system in the early days and the status quo has been brought through the influence of great economists and philosophers alike whose advocacy against traditional economic practices led to the present free international trade. The first prominent form of international trade was mercantilist which tended to favor the accumulation of precious metals. The mercantilist economists favored strong protectionist policies which included high tariffs and restricted movement of labor and resources. The emergence of liberal economists like Richard Cobden and Adam Smith led to a systematic attack against such practices and a sustained effort to replace it with free market. This market will be characterized by reduced government control, abolition of restrictions and relying on the forces of demand and supply to determine prices. However, Karl Marx felt that although free market under capitalism was a brilliant and effective form of market structure, he nevertheless felt that it led to segregation of society and that such a system would collapse and be replaced by a classless society under communism (Marx, 1999).

Following a structured approach Essay

How might following a structured approach to creating sound and strong arguments impact your life? Coercing others to agree with your argument requires sound premises. In life, you come across opportunities to apply this skill. These opportunities may be a promotion at work, a kitchen design your spouse does not agree with, or a plea for mercy from a police officer after you are caught speeding and running a red light in order to get home to meet your children at the bus. How have you begun to use logic as a tool for improving your everyday life? This class was perfect timing for my end of year review at work. We are asked to create a self-review that our supervisors can use to evaluate our performance. A portion of the self-review requires fact based scores attained throughout the year; the remainder is how you performed tasks. In the past, my reviews summed up to a plea for promotion and more money. I was able to apply critical thinking and create premises that are fact based. Above average scores received throughout the year shows my ability to perform my job with excellence. Experience with systems provided an opportunity to train and coach other instructional designers. A company approved pay scale calculated with performance (based on scores) and experience provides evidence for a pay raise. What are your future goals for changing your critical thinking and reasoning skills as a result of what you have learned in this course? I tend to jump into an argument with little to no thought. In this class, I have learned to take time to analyze the information and the opposing argument in order to make my argument deductive, sound, and strong. Jumping the gun leads to false premises with unsupported conclusions. Critical thinking removes clouded premises, attached by emotion that inevitably ends in a weak argu ment.

The greater power of politics is within the grasp of people Essay

The greater power of politics is within the grasp of people - Essay Example The contract tradition gives verdict regarding what is natural and what is non-natural. Difference of thought among the three authors is most of the time overlooked due to the practice of grouping them together. The â€Å"Social Contract† as a theory was written in the 17th and 18th century. This theory advocated four important points. Firstly the state exists to serve the will of the people. Secondly people are the only source of government power. Thirdly the people are free to accept or refuse to give power to the government. Finally the document advocates for limited government, individual rights, and popular sovereignty. Thomas Hobbes and John Locke were very prominent personalities, and both had a tremendous influence on the future of England. Despite these common personality traits, some of their beliefs are very different. For example, Hobbes believes that politics is based on the desire of power and the fear of death. He wants to create a powerful state and called it à ¢â‚¬Å"Leviathan†. (â€Å"A government to protect the people from one another to keep them in fear†) In the â€Å"Social Contract† Hobbes suggests that men should give up their rights to an authority to act for them, on their behalf. He said that sovereign authority had to be absolute in order to prevail over the fear of death in state of nature. From this it is clear that only reason for existence of the governments was the safety of the people. There are some strange and unusual statements regarding what is natural, what is non-natural and what is merely manufactured by humans. Thomas Hobbes writing is one of the most profound and influential political literature ever written. His Leviathan was written at the time of the English Civil War. The impact and result of Civil War had greatly influenced the ideas of Hobbes. He saw the power of the people in the war therefore he argued that the government’s power comes from consent of the people. This idea was wi dely used in the American Revolution. Thomas Hobbes begins his argument by stating the nature of humanity. No human is perfect and combination of different aspects. One man can be better in some regard than another man but in the end, their positive and negative aspects combine to make them equal. In the state of nature this equality brings fear to men. They begin to suspect and hate one another, which put them on the path of war. When men are at war morals, principles and fairness evaporate. The absence of a central governing authority compels men to act according to their own understanding. Hobbes states three main reasons that force a man to war: Competition, Fear, and Glory. "The first, make men invade for gain; the second, for safety; and the third for reputation". War goes on for a long time without any logic or reason. No matter how successful a war may be, there are always losses. In addition, if man is always at war, he loses civilization, resources, time, culture, and ethi cs. He starts depending on animal surviving instinct, always keeping his guard against any other man. All the war is for the safety and life but it is the fear of death which prevents men from constant involvement in war. There is little time for building and civilizing the world or to enjoy life and resources won in the war. The state of being in constant war, or fearing that there is war, takes up a lot or all of the time. In this

MODERN AFRICAN HISTORY Essay Example | Topics and Well Written Essays - 750 words

MODERN AFRICAN HISTORY - Essay Example With the invasion of Spain, agriculture, engineering, mining, scholar ship, industry, architecture and industry was brought to it. This made Spain a learning center in Europe for many hundred of years. Next, Egypt was in the line of invasion. It was in 11th century, when the Arab culture dominated the Berber culture (Diop, 41). The influence of Arabic language and Islam made strong roots in Northern Africa. Islam is further spread towards South, West and East Africa. The result is that within short span, great civilizations are born in the continent of Africa. The trade, institutions for scholars seeking knowledge, riches of gold, salt trade was present at that time. Architecture developed, societies flourished, African culture mingled with Islam to give a legacy of rich history to the world for later people. Ibn Battuta visited Africa and was impressed with its immense culture and advance society. He was impressed with the beautiful Alexandria’s busy harbor. He described the pyramids as firm carvings of stones with great height. It was wider at the base while slowly narrows upwards. When he came to east Africa, he landed at Zeila which was the harbor of Christian Kingdom of Ethiopia. He felt that Zeila was the dirtiest town in the whole world. He further tells us that the stench in Zeila was due to blood of camels that were butchered and the quantity of fish. About the Swahili, he writes that kings, intellectual, officers, as well as port workers, agricultural workers, artists and slaves were black people who spoke African languages in their daily life. On slavery he writes that the ruler of Kilwa was a very generous and kind king. He further states that he was man of great human morals who used to eat with his poor brothers and respected everyone (Diop, 61). When he visited West Africa, he first visited Cairo. He wrote about Cairo as being a city which spent gold in its market. He also wrote that at that time West Africa produced almost two

The Advantages of Paying Cash Essay Example | Topics and Well Written Essays - 750 words

The Advantages of Paying Cash - Essay Example It should be noted that compared to credit cards, cash payments make an individual more conscious of his expenditures, exempt him of annual charges, and motivates the individual to save.As opposed to cash payments, credit cards allow an individual to spend more than the money that he actually has. For example, when shopping a person with credit card tend to spend more on items that he does not necessarily need. With cash, a person will be constrained by the amount that he carries.Secondly, without credit cards, an individual is exempt from paying annual fees and other interest charges. The $200 charge by companies annually is often enough to purchase some necessities. Also, interest charges are additional expenses which one doesn't want to shoulder.Lastly, cash payments motivate a person to save. It should be noted that since you only spend what you have, you are not tempted to allot money for unnecessary purchases. This together with the absence of financial charges motivates you to save money.If I am faced with the important decision of choosing the place where I want to spend all my life, I will choose to stay in the city. Away from the solace and the boredom of the small town, a city provides a quality of life which will enable me to develop my strengths to the fullest. The big city often offers the best schools in the country, the more exciting and challenging job opportunities, and the best companies to work for. I always believe in developing my competencies through education which can be best secured by a huge and reputable university in the city. Universities in big cities often invest so much in the quality of the education that they offer thereby allowing their students to be the best in their respective fields. Secondly, there are more job opportunities in the city. In a small town, jobs are limited and are often non-challenging to an adventurous person like me. In a big city, jobs require the completion of tasks which are more exciting. Having these tasks will enable me to learn more. Big cities also house the best companies to work for. Recognizing the quality of the people that they have, these companies offer huge compensation together with nonfinancial rewards. Working with the best company also has the advantage of working with the best in the industry. A big city represents the life that I choose for myself. As opposed to the small, quiet town it provides opportunities of growth for me. In the big city, I can be equipped with better education, work more challenging jobs, and can be a part of the world's best organizations. How to Do Your Laundry Who says that you always need to bring your dirty clothes in the laundry shops for cleaning It is often disappointing to find out that people are relying so much and paying for these services when washing clothes is just an easy task. Doing your laundry can be done in three major steps namely, the pre-washing preparations, the actual washing, and drying. In order make washing easier, it is best to always separate the colored from the whites. This way, the colors will be maintained and color fast clothes are also protected. Before putting them in the washing machine, all foreign objects such as clips, pens, wallets, and other should be removed from the clothes. Also, it is best to prepare the machine by following the manufacturer's instructions. During the actual washing, the procedure of the washing machin

The Mystery of Pain Essay Example | Topics and Well Written Essays - 500 words

The Mystery of Pain - Essay Example Rehabilitation trouble could be reduced if methods like virtual reality are adapted as in the case of "virtual reality for soldier's burn pain" where the patient's brain is diverted by means of cool virtual reality game, providing a sense of chill rather than heat of the pain. This alters the perception of sensory stimulation. In future the technique could gain advantage as it has potentials to calibrate neurons not to have sensation of pain. When human mind perceives the thought of suffering, pain is felt, eventually this very thought leads to enhanced discomfort and the individual recedes from cure because of distress. On the other hand animals do the reverse, they heal their injuries in a natural way. Thus, psychological focus plays an imperative role in sensing pain. It is established fact "little knowledge is dangerous". A person who himself is a physician knows the intensity of injury and is bound to feel more pain as compared to the individual who does not possess sound medica l knowledge, if both encounters the same degree of injury. Here again psychology plays the key role.

Managment Essay Example | Topics and Well Written Essays - 1500 words

Managment - Essay Example On the other hand, Telstra have to establish administrative set up in Brazil to get the government’s permission to start its telecommunication service. Telstra have been successful in Australia capturing optimum market share. So, Telstra can replicate this success in other markets also, and in that direction Brazil can be the perfect market for its expansion plans. 2.0 Political Environment 2.1 Government stability Although remnants of instability were there, there was progress when Luiz Inacio Lula da Silva was reelected as the country’s president for the second term in 2006, and then the election of his protege Dilma Rousseff in 2011. He actualized a stable form of government and also launched many pro-business measures, with Rousseff vouching to follow it. 2.2 Government and contribution Immediately after assuming office as part of his second term in 2006, the Silva government launched a new Growth Acceleration Program called the Programa de Aceleracao de Crescimento , or PAC. Under this program, the Brazilian government is investing sizable funds to establish infrastructures for the entry and development of businesses. Infrastructures for better transportation, telecom and for power energy are the key parts of PAC. 2.3 Analysis When the political climate of Brazil is viewed from the perspective of Telstra’s expansion plans, it augurs well. ... mework and the resultant powers regarding foreign investment are the exclusive competence of the Brazilian Federal government; and states do not have regulatory powers in this matter. (OECD 1998). Thus, with investor friendly environment prevailing under Rousseff’s regime, the regulatory framework also has been made business friendly. 3.2 Business laws A telecommunication service licence can only be granted to companies existing under Brazilian law, with their principal place of business and administration in Brazil. (Campbell 2007). This law clearly makes it mandatory for the companies like Telstra to establish a local set up or even a subsidiary. 3.3 Labour laws In Brazil labor laws; there are impediments to hiring workers and even more to firing them. (Thomas 2006). The labor code encourages litigation to resolve disputes between the employees and the employers. Use of part-time labor is severely constrained. (Thomas 2006). 3.4 Taxation laws As part of PAC, tax system for b usiness as been further simplified and reduced. â€Å"The measures include investment in the creation and repair of roads and railways, simplification and reduction of taxation.† (The President 2011) 3.5 Analysis From the above discussion of the Brazil’s legal environment, it is clear that Brazil has some tough laws. Although, these laws are not disadvantageous, they have to be given a lot more care, for any cell phone company including Telstra to have successful operations. 4.0 Economic Environment (Heading) 4.1 Interest rates (%) The Brazilian Government set the subsidized interested rates at 6.75 percent, with interest rates offered to middle-class producers set still lower at 6.25 percent. (Hrapsky and Ming 2010). These high interest rates and the economic boom are the key reasons for

<Application Student Scholarship> Essay Example | Topics and Well Written Essays - 1000 words

- Essay Example In the first year of my study, I met a lecturer named Eng James who was teaching me one of the units in electrical engineering. James substantially helped me in the chase of my profession by teaching me entrepreneurship skills. According to his remarks, it was quite evident that entrepreneurship was one of the significant aspects of a renowned businessman/woman. In this case, the most valuable lessons that I learnt from James was achieving my individual career goals. I was raised in a family unit which had a strong proclivity to the study of science. Therefore, I have developed a fascination for science since my childhood period. This fascination is what enabled me to take a career in electrical engineering. During my study, I have scored highly in most units in my course. As a major in electrical and electronics engineering, I have tremendous potential to becoming a leading force in all walks of life. This four year undergraduate study in the university as enabled me to learn that engineering is one of the most vital disciplines which govern human life (Baine, 2004). This is because the study of engineering imparts the learners with knowledge, which is considered as a valuable insight to the global market. During my study in the university, I gained knowledge in various subjects including power electronics, electronic circuit design and power systems. In addition, I have also gained information with regard to the developing technology. For instance, I am well acquainted in software design and programming languages. Throughout my learning, I was always one of the top ranked students in the engineering department. At one point in my studies, I was ranked the first student out of twelve thousand students among 18 universities in California in the department of engineering. I was also among the small percentage of students who had a constant academic record. I successfully cleared my studies

Nutrition for Health and Social Care Essay Example for Free

Nutrition for Health and Social Care Essay In this assignment, I will be making realistic recommendations for decreasing negative impacts on the health of one individual. The individual I will be making recommendations for and talking about in more depth is James. As it states in the case study, and James has a BMI above average, therefore, in this assignment, I will clarify in full detail what he could do in order to live a healthier lifestyle and lose some weight as James is 54 years old overweight. In addition, I will also be stating the advantages of acting upon and following the recommendations I have made as well as the disadvantages if he did not follow them and continued with his normal diet. â€Å"Food is essential for life but what we eat is subject to a wide range of influences. Recognising these and taking account of them when planning menus and preparing food can make the difference between and individual eating sufficiently for their needs or not†. James is 54 years old Chief Executive of an international company. He is single with no children, and admits to not paying much attention to his diet. Due to working long hours, he often skips meals, and ends up snacking. He sometimes grabs a takeaway on the way home because he’s not good at cooking, and hardly does food shopping and he lives miles away from the nearest supermarket, and so there’s usually nothing indoors to eat. At 6’1, he weighs 212 pounds and has a BMI of 28. He admits to feeling a little tired, recently. James dietary habits are impacting him negatively because he at an age where he is at risk of contracting some type of serious cardiovascular diseases, for instance problems with his heart or his arteries being clogged with fat because of consuming a lot of unhealthy foods, which could be fatal. James health factors are already beginning to have negative impacts on him because as it states â€Å"he admits to feeling a little tired, recently†. If James does not alter his behaviour towards his health for example taking more care and paying attention to his health, not only will he continue to gain a lot of weight but he will also have a hard time losing the weight as he will have a great amount to lose. I recommend that James goes on a diet and makes lifestyle changes. However prior to beginning his diet, I think it’s highly important that James visits his GP and research about dieting and losing weight the right way rather than doing it the wrong way to see faster results and be at risk of other health problems. After he has done his research, He should start off his diet slowly, for instance he could start by cutting out fizzy drinks and alcohol because they both contain great amounts of calories and fizzy drinks have a lot of sugar which is not good to constantly have, and replacing them with water. Water is extremely beneficial to the body because it refreshes your body and keeps you hydrated, and also drinking the recommended amount of water daily combined with a healthy diet, will contribute in weight loss and a healthier body. James should then begin to make food choice changes and portion control, for example cutting out fatty foods and consuming large portions of food. It states in the case study that he does not pay attention to his diet and because he works long hours, he often skips meals and that he is not good at cooking. James will have to now pay a lot of attention to his diet because it is putting him at risk of serious health problems and the first thing he should do is look on the internet for food recipes. If James does not want to cook at all, he should order his food from shops such as Marks and Spencer’s which have a variety of different healthy meals and also have home delivery so he could have the food delivered to him. Although he works long hours, it is vital that he does not skip any meals during the day, he should prepare a healthy meal at home and pack some to take to work and eat during his break, and he should also incorporate fruits for snacks and a bottle of water to take to work every day. This way he will not have to buy unhealthy take away meals to eat. In addition, James should attempt not to eat heavy meals before bed, he should have a light dinner and if he feels hungry late hours of the night, he should eat fruits and drink water to fill him up. After James has become accustomed to his new diet choices, he should now incorporate exercise to his diet. However it states in the case study that James works long hours which could be problem if he is trying to incorporate some exercise to his new lifestyle. The way to overcome this problem would be for James to have a plan. He should plan out his life for instance what ime he departs for work, what time he’s back home and the amount of hours he has free after work. Due to the fact that James works long hours, I think that he would benefit highly from buying aerobic DVDS and exercising in the comfort of his own home rather than going to the gym after a tiring day at work. He should start off by buying beginners DVD and gradually progressing to the more intense work out. However the DVDs must be suitable for his age and also he should consult his doctor prior to starting the exercising routine. The advantages of these strategies I have implemented above for James is that he will lose weight, he’ll be living a healthier lifestyle, he’ll become accustomed to not eating unhealthy foods and he would have the skills and knowledge about health and how poor diet contributes highly to health problems. The disadvantage would be if James decided not to act upon the recommendation and continued his bad habits of constantly eating take-away, skipping meals during the day and not exercising. The fact that he is 54 and is overweight is highly worrying because he is now at risk of getting diabetes, clogging up his arteries, suffering from a heart attack and other life threatening health problems. If he does not change his diet he is most likely to endure one of the health problems I have just mentioned and in worst cases it could lead to instant death. James lifestyle also has a huge negative effect on his health. This is because he has no wife or kids, whom could’ve helped James more, by for instance having a healthy cooked meal for him when he returns home from work. This way he would not need to always pick up takeaways on his way home as he would have a healthy cooked meal at home. Also the fact that James works long hours has also affected his health, the reason I believe this is because this could be the reason as to why he skips meals due to not having time to eat during work times which is also now making James feels often tired. James health is at risk, the fact that his working hours are so long may also be the reason to why James has not enrolled in gym, as I mentioned above he may feel extremely tired when he returns home from work and does not have the energy to exercise. Also the fact that he often skips meals does not help the situation because he is not receiving enough nutrients to give him energy he requires. I recommend that James starts off by possibly making slight alterations in his working hours and replace them with time for himself. The reasons for this is because James is clearly on a route to becoming obese and he needs to make some time for himself to exercise and better his health. As well as exercising, as I mentioned in the previous paragraphs, he has to change his eating habits as this is the main reason for his weight issues. I believe that a plan would be very beneficial for James to implement in his life because due to the fact that he’s a chief executive of an international company, means that he possibly has a lot of daily responsibilities at work and if he had a plan of what to eat and what time he has free to exercise, he will not become stressed and confused because it will all be written down. In this plan he should write down all the hours he works during the week and the breaks he has in between, he should also implement his new healthy diet in this plan and write the times he eats meals and snacks in between. I believe that after doing this and following through with the plan, he will adjust to the plan and begin to lose some weight and become healthier. Also more importantly James must always carry a packed lunch and fruits to work so he does not skip lunch and after lunch if he begins to get hungry again, he can snack on some fruits instead of buying unhealthy snacks. In conclusion, I believe that the recommendations I have made for James will only be advantages to him. This is because he will begin to lose the weight he has to lose in order to be healthy; his BMI will drop to average weight and also most importantly he will be living a healthier lifestyle and decrease the risk of having serious health problems. In addition, he will begin to have more energy throughout the day to cope with his every day routine without feeling as tired as he did when he did not pay attention to his diet and weight.

Harvard Business School Essay Example for Free

Harvard Business School Essay August 8, 1995 had taken an unexpected turn for Netscape Communications Corporation’s board of directors. Earlier that morning, the day before the company’s scheduled initial public offering (IPO), Netscape’s lead underwriters proposed to the board a 100% increase in the original offering price from $14 to $28 per share. This recommendation came in response to the remarkable oversubscription for Netscape’s shares, which had already prompted the underwriters to increase the number of shares to be offered from 3.5 million to 5 million. Under the current proposal, a company with a net book value of just over $16 million that had yet to turn a profit, was suddenly valued at over billion. The Board faced a pricing dilemma within the context of an extremely unpredictable industry. While its members wanted to be responsive to Wall Street’s current zeal, they also wanted to make sure that the fundamentals of Netscape justified such a dramatic increase in valuation. Netscape Communications Founded in April 1994, Netscape Communications Corporation provided a comprehensive line of client, server, and integrated applications software  for communications and commerce on the Internet and private Internet Protocol (IP) networks. These products enabled the growing network of servers on the World Wide Web to communicate through multimedia, including graphics, video and sound. Designed with enhanced security code, these software products provided the confidentiality required to execute financial transactions and to sell advertisements on the Internet and private IP networks. The company’s most popular product, Netscape Navigator, was the leading client software program that allowed individual personal computer (PC) users to exchange information and conduct commerce on the Internet. Navigator featured a click-and-point graphical user interface that enabled users to navigate the Internet by manipulating icons and windows rather than by using text commands. With the user-friendly interface as a guide, Navigator offered a variety of Internet functions including Web browsing, file transfers, news group communications, and e-mail. Initially shipped in December 1994, Netscape Navigator generated 49% and 65% of total revenues for the quarters ended March 31, 1995, and June 30, 1995, respectively. Netscape’s server software provided enterprises with the basic capabilities necessary for creating and operating Web server â€Å"sites,† or places on the Web which browsers could visit. Research Associate Kendall H. Backstrand wrote this case under the supervision of Professor W. Carl Kester as the basis for class discussion rather than to illustrate either effective or ineffective handling of an administrative situation. Copyright  © 1996 by the President and Fellows of Harvard College. To order copies or request permission to reproduce materials, call 1-800-545-7685 or write Harvard Business School Publishing, Boston, MA 02163. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means—electronic, mechanical, photocopying, recording, or otherwise—without the permission of Harvard Business School. Incorporating both browser and server functions, the company’s integrated applications software programs were designed to provide enterprises with the capability to manage large-scale commercial sites on the Internet. Such applications enabled these enterprises to conduct full-scale electronic commerce through a seamless system. Together, server and integrated applications software accounted for 36% of total revenues in the first quarter of 1995, and 28% of total revenues in the second. Of these revenues, the majority were generated by one of Netscape’s three server products, Netscape Commerce Server .1 Revenues from Netscape’s server and integrated applications products were expected to increase as a percentage of overall revenues in the future. In addition to product revenues, Netscape generated service revenues, which were attributable to fees from consulting, maintenance, and support services. These revenues amounted to approximately 5% and 7% of total revenues for the quarters ended March 31, 1995 and June 30, 1995, respectively. Financial Performance Netscape had incurred total losses of $4.3 million on total revenues of $16.6 million for its first two operating quarters ended June 30, 1995. The company expected to continue to operate at a loss for the foreseeable future. Exhibits 1 and 2 provide Netscape’s financial statements since its incorporation in April 1994. Operating activities for the six months ended June 30, 1995 had generated $7.3 million in cash. Cash flows from financing activities of $20.5 million were primarily attributable to the net proceeds of $17.3 million from the issuance of Series C Preferred Stock and borrowings of $2.2 million under a debt facility agreement. Cash used in investment activities of $22.1 million related to $16.6 in short-term investments and $5 million in capital expenditures. At the end of the second quarter of 1995, Netscape’s principal sources of liquidity were $8.9 million in cash and the $16.6 million in shortterm investments. The company expected total capital expenditures for 1995 of approximately $12 million. Industry Background The demand for Netscape’s products had evolved out of the development of the Internet in the late 1960s. The Internet was a global network designed to facilitate communication between some 35,000 computer networks using the enabling code termed Internet Protocol. According to International Data Corporation (IDC), in mid-1995 there were approximately 57 million Internet users. Of those 57 million users, IDC estimated that approximately 8 million were accessing information on the World Wide Web. Engineered in the early 1990s, the Web was a technology that linked one bit of information on the Internet with another so that users could share â€Å"webs† of ideas. The Web consisted of a network of Web servers that posted information in a common format described by the Hypertext Markup Language (â€Å"HTML†). Internet users were able to access information on the Web by implementing the appropriate Hypertext Transfer Protocol (â€Å"HTTP†). Because it necessitated complex coding, the Web had remained largely undiscovered by nontechnical users who simply wanted to browse, a popular pastime which came to be dubbed â€Å"surfing the Net.† 1Bundled packages of Netscape Navigator and Netscape Commerce Server accounted for about 10% of total revenues in the first quarter, while its contribution in the second quarter was immaterial. 2 Netscapes Initial Public Offering Netscape’s Entrance Meanwhile at the University of Illinois at Urbana-Champaign, a group of computer science students working at the National Center for Supercomputing Applications (NCSA) developed the graphical software program that gave rise to the notion of â€Å"surfing.† Named NCSA Mosaic, the software program enabled nontechnical users to access and retrieve information on the Web. The Mosaic code organized Web information into neat collections of graphical electronic menus on which users could simply click-and-point to browse their contents. In April 1993, the founders of Mosaic, under the leadership of then senior Marc Andreessen, began distributing the software for free to anyone who had the technical means to fetch it electronically. The superb results of this strategy—two million Mosaic users within one year—made for more than cocktail conversation among high-tech gurus in California’s Silicon Valley. Jim Clark, the founder of Silicon Graphics, Inc. (known for its workstations that turned data into 3-D computer images), was among those who were impressed not only by Mosaic itself but by the broader vision of its creator, Andreessen. After hearing that Andreessen had moved to Silicon Valley in early 1994, Clark sent him an email asking if they might meet to discuss the future of  Mosaic. This exchange and subsequent discussions formed the launching pad for Mosaic Communications, which was shortly renamed Netscape Communications Corporation. In addition to dropping the Mosaic name, Netscape paid Spyglass (the company that had engaged in an exclusive licensing arrangement with the University of Illinois) a one-time $2.4 million fee for the rights to certain Mosaic code. With the original code, Clark’s management experience and $3 million in seed money, and Andreessen’s vision and technical expertise, Netscape made its entrance into the highly dynamic Internet market.