ARCADE BUSINESS COLLEGE

A
PROJECT REPORT
ON
“A STUDY ON SALES PROMOTION OF HERO MOTOCORP”
WITH SPECIAL REFERENCE
TO
CHANDAN AUTOMOBILE,PATNA
HERO
A REPORT SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENT
FOR THE AWARD OF BACHELOR OF BUSINESS MANAGEMENT

(BBM 2ND YEAR)

FROM
MAGADH UNIVERSITY,BODHGAYA

UNDER THE GUIDANCE OF: SUBMITTED BY:

Mr.Manoj kumar Sweta Shalini
CO-ORDINATOR ACADEMIC ROLL NO:16107
ARCADE BUSINESS COLLEGE REG NO.;1607004055
ARYA KUMAR ROAD, PATNA
 DECLARATION
I hereby declare that this submission is my own work and that, to the best of my
knowledge and belief, it contains no material previously published or written by
another person nor material which to a substantial extent has been accepted for
the award of any other degree or diploma of the university or other institute of
higher learning, except where due acknowledgment has been made in the text.

Name:- Sweta Shalini

Roll No.:-

Signature:-

Date:-
 ACKNOWLEDGEMENT
It gives me a great sense of pleasure to present the report of the B.B.M Project
undertaken during B.B.M Final Year. I owe special debt of gratitude to Mrs.
Soni Department of Marketing B.B.M, Arcade Business Collge, Patna, Bihar
for her constant support and guidance throughout the course of our work. Her
sincerity, thoroughness and perseverance have been a constant source of
inspiration for me. It is only her cognizant efforts that my endeavors have seen
light of the day. I also take the opportunity to acknowledge the contribution of
Mrs. Soni, Head of the Department of Marketing, Arcade Business College,
Patna, Bihar, for her full support and assistance during the development of the
project. I also do not like to miss the opportunity to acknowledge the
contribution of all the faculty members of the department for their kind
assistance and cooperation during the development of my project.

I also do not like to miss the opportunity to acknowledge the contribution of all
faculty members, of the department for their kind assistance and cooperation
during the development of our project. Last but not the least, I acknowledge my
friends for their contribution in the completion of the project.

Signature:-
 TABLE OF CONTENTS

Pag
e
No.
DECLARATION---------------------------------------------------------------------------------- ii
CERTIFICATE------------------------------------------------------------------------------------ iii
ACKNOWLEDGEMENT----------------------------------------------------------------------- iv
ABSTRACT--------------------------------------------------------------------------------------- v
LIST OF FIGURES------------------------------------------------------------------------------- ix

CHAPTER 1(INTRODUCTION)----------------------------------------------------- 1

1.1 Introduction To Fuel Cells--------------------------------------------------- 1

CHAPTER 2(LITERATURE REVIEW) 3

2.1 Principle Of A Solid Oxide Fuel Cell (SOFC)------------------------------------------- 6

2.2 Types Of Fuel Cells-------------------------------------------------------------------------- 8
2.3Classification of Losses in an Actual Fuel Cell------------------------------------------ 16
2.4 Sources Inducing Thermomechanical Stress In SOFC---------------------------------- 17
2.5 Effect Of The Initial And Boundary Conditions----------------------------------------- 20
2.6 Convergence And Stability Issues---------------------------------------------------------- 22
2.7 Thermomechanical Modelling Foundations---------------------------------------------- 23
2.8 Comparison of Weight, Volume and Cost------------------------------------------------ 26
2.9 Weight Comparison-------------------------------------------------------------------------- 27
2.10 Volume Comparison------------------------------------------------------------------------ 28
2.11 Cost Comparison---------------------------------------------------------------------------- 28
2.12 Cost Of Fuel Cells-------------------------------------------------------------------------- 28

CHAPTER 3(OBJECTIVE OF THE WORK)------------------------------------------------ 30

3.1 Project Methodology------------------------------------------------------------------------- 31

3.1.1 Mathematical Model Of SOFC------------------------------------------------------ 31
3.1.2 ControlAlgorithm--------------------------------------------------------------------- 32

CHAPTER 4(HYSTERESIS BAND CURRENT CONTROLLER INVERTER AND 35

ERROR APPROXIMATION)------------------------------------------------------------------
-

4.1 Hysteresis Band Current Controller Inverter---------------------------------------------- 35

4.2 Fixed-Band Hysteresis Control------------------------------------------------------------- 35
4.3 Dc Current Harmonics----------------------------------------------------------------------- 37
4.4 Error Current Mathematical Description-------------------------------------------------- 37
4.5 Model Approximation----------------------------------------------------------------------- 41
4.6 Dc Current Harmonics----------------------------------------------------------------------- 43

CHAPTER 5(DESIGN OF VARIOUS CONVERTER AND SIMULINK MODEL 45

OF SOFC)------------------------------------------------------------------------------------------

5.1 Design Of Dc – Dc Boost Converter------------------------------------------------------- 45

5.2 Design Of Dc- Ac Converter---------------------------------------------------------------- 46
5.3 Simulink Model Of SOFC------------------------------------------------------------------ 47

CHAPTER 6(SOFC RELIABILITY AND LIFETIME PREDICTION )----------------- 52

-------------------------------------------------------------------------------------------------------

6.1 SOFC Reliability And Lifetime Prediction----------------------------------------------- 52

6.2 Material Properties for the Cell and Model Validation--------------------------------- 53
CHAPTER 7(ANALYSIS AND DISCUSSION)-------------------------------------------- 56

7.1 Sensitivity Analysis of Thermal Stresses-------------------------------------------------- 56

7.2 Results From The Above Case Studies---------------------------------------------------- 59

CHAPTER 8(CONCLUSION)------------------------------------------------------------------ 60

REFERENCES--------------------------------------------------------------------- 63

-
 LIST OF FIGURES

Page
No.
2.1. Showing electricity generation through fuel cell 7
2.2. Alkaline fuel cell 10
2.3. Molten carbonate fuel cell 11
2.4. Phosphoric acid fuel cells 12
2.5. Polymer electrolyte membrane fuel cell 14
2.6. Solid oxide fuel cell 15
2.7. Effect of temperature and electrolyte on residual stresses in electrolyte 18
3.2. Block diagram of fuel cell distributed generation system 33
4.1 Single phase half bridge inverter 36
4.2. Reference voltage calculations and instantaneous outputs 37
4.3. Error current 38
4.4. Effect of changing β on harmonic system 40
4.5. AC harmonics transferred to inverter DC side 41
4.6. Effect of Va* on the error current duty cycle 42
5.1. Simulink model of boost converter 45
5.2. Equivalent circuit of IGBT 46
5.3. Control scheme of IGBT 47
5.4. SOFC inner block 48
5.5. Output voltage of SOFC 49
5.6. SOFC model connected with three phase load 49
5.7. Output, inverter output, load output 50
5.8. Rate of flow of oxygen and hydrogen 50
5.9. Three phase output voltage 51
5.10. Three phase output current 51
6.1. Schematic of concept of modeling approach 53
7.1. Thermal stress comparison 56
7.2. Different SOFC configuration 57
7.3. Thermal stress comparison with different configuration 58
7.4. Thermal stress comparison with different porosity 58
7.5 Thermal stress comparison and analysis 59
 TITLE OF THE PRODUCT

“INTERNATIONAL COMPETITION

IN

FIELD OF SHOES.”
REEBOK
v/s
NIKE
CHAPTER-1

1.1 INTRODUCTION TO THE TOPIC

International competition is a fact of life for today's companies. Manufacturers
in the United States, for example, must compete not only with exports from
other countries, but also with American subsidiaries of foreign corporations.
The same is true for manufacturers and other companies in Japan and the
European Union (EU). Newly industrialized countries such as China,
Singapore, South Korea, Taiwan, Brazil, and Mexico are also competing for a
share of the international marketplace. In short, international competition is the
driving force behind the globalization of production and markets.

International trade in the 1990s has been dominated by the United States, Japan,
and the European Union (EU). Together they generate 80 percent of all world
trade and account for 65 percent of all foreign direct investment . One sign of
increased international competition has been the growth of imports and exports.
In the United States, for example, exports increased from less than 10 percent of
manufacturing output in the 1960s to more than 20 percent in the 1990s.
Similarly, imports of manufactured products increased from 5 percent of
domestic output in the 1960s to more than 25 percent in the 1990s.

International business refers to the trade of goods, services, technology,

capital and/or knowledge across national borders and at a global or transnational
level.

It involves cross-border transactions of goods and services between two or more

countries. Transactions of economic resources include capital, skills, and people
for the purpose of the international production of physical goods and services
such as finance, banking, insurance, and construction. International business is
also known as globalization.
To conduct business overseas, multinational companies need to bridge separate
national markets into one global marketplace. There are two macro-scale factors
that underline the trend of greater globalization. The first consists of eliminating
barriers to make cross-border trade easier (e.g. free flow of goods and services,
and capital, referred to as "free trade"). The second is technological change,
particularly developments in communication, information processing, and
transportation technologies.

"International business" is also defined as the study of the internationalization

process of multinational enterprises. A multinational enterprise (MNE) is a
company that has a worldwide approach to markets, production and/or
operations in several countries. Well-known MNEs include fast-food companies
such as: McDonald's (MCD), YUM (YUM), Starbucks Coffee Company
(SBUX), Microsoft (MSFT), etc. Other industrial MNEs leaders include vehicle
manufacturers such as: Ford Motor Company, and General Motors (GMC).
Some consumer electronics producers such as Samsung, LG and Sony, and
energy companies such as Exxon Mobil, and British Petroleum (BP) are also
multinational enterprises.

Multinational enterprises range from any kind of business activity or market,

from consumer goods to machinery manufacture; a company can become an
international business. Therefore, to conduct business overseas, companies
should be aware of all the factors that might affect any business activities,
including, but not limited to: difference in legal systems, political systems,
economic policy, language, accounting standards, labor standards, living
standards, environmental standards, local cultures, corporate cultures, foreign-
exchange markets, tariffs, import and export regulations, trade agreements,
climate, and education. Each of these factors may require changes in how
companies operate from one country to another. Each factor makes a difference
and a connection.
One of the first scholars to engage in developing a theory of multinational
companies was Canadian economist Stephen Hymer.[1] Throughout his
academic life, he developed theories that sought to explain foreign direct
investment (FDI) and why firms become multinational.

There were three phases of internationalization according to Hymer's work. The

first phase of Hymer's work was his dissertation in 1960 called the International
Operations of National Firms.[2] In this thesis, the author departs from
neoclassical theory and opens up a new area of international production. At
first, Hymer started analyzing neoclassical theory and financial investment,
where the main reason for capital movement is the difference in interest rates.
After this analysis, Hymer analyzed the characteristics of foreign investment by
large companies for production and direct business purposes, calling this
Foreign Direct Investment (FDI). By analyzing the two types of investments,
Hymer distinguished financial investment from direct investment. The main
distinguishing feature was control. Portfolio investment is a more passive
approach, and the main purpose is financial gain, whereas in foreign direct
investment a firm has control over the operations abroad. So, the traditional
theory of investment based on differential interest rates does not explain the
motivations for FDI.

According to Hymer, there are two main determinants of FDI; where an

imperfect market structure is the key element. The first is the firm-specific
advantages which are developed at the specific companies home country and,
profitably, used in the foreign country. The second determinant is the removal
of control where Hymer wrote: "When firms are interconnected, they compete
in selling in the same market or one of the firms may sell to the other," and
because of this "it may be profitable to substitute centralized decision-making
for decentralized decision-making".
Hymer's second phase is his neoclassical article in 1968 that includes a theory
of internationalization and explains the direction of growth of the international
expansion of firms. In a later stage, Hymer went to a more Marxist approach
where he explains that MNC as agents of an international capitalist system
causing conflict and contradictions, causing among other things inequality and
poverty in the world. Hymer is the "father of the theory of MNEs", and explains
the motivations for companies doing direct business abroad.

There are three basic methods by which companies can compete in foreign
markets: exporting, licensing and other contractual agreements, and investment.
Each method has its own advantages and disadvantages. One method may be
more appropriate for a certain line of business than another. For example,
exporting works for best for physical goods. Licensing and other contractual
arrangements are more appropriate for intangibles, services, and the transfer of
technology. Investment involves the transfer of an entire enterprise to another
country.

Exporting is limited to physical goods. When a company exports goods to

another country, those goods are manufactured outside of the target market.
Companies that export can use intermediaries located in their own country to
facilitate exports, or they can use no intermediaries or only those located in the
target country. International freight forwarders, banks , and other specialists
can assist companies wishing to export by handling many of the details
regarding documentation and financing.

Exporting is often the way a company initially becomes involved in

international trade. Companies can gain valuable experience in international
markets through exporting without being exposed to large capital losses. A
recent variation on traditional exporting is mail-order exporting. Mail-order
businesses based in the United States, for example, have found that with the use
of fax machines, international toll free telephone calls , credit cards, and air
courier delivery, consumers in Europe, Japan, and elsewhere are willing to place
orders from catalogs and other direct-mail promotions.

1.2 OBJECTIVE OF THE STUDY

The major objectives of international marketing are outlined as follows −

 To enhance free trade at global level and attempt to bring all the
countries together for the purpose of trading.
 To increase globalization by integrating the economies of different
countries.
 To achieve world peace by building trade relations among different
nations.
 To promote social and cultural exchange among the nations.
 To assist developing countries in their economic and industrial growth
by inviting them to the international market thus eliminating the gap
between the developed and the developing countries.
 To assure sustainable management of resources globally.
 To propel export and import of goods globally and distribute the profit
among all participating countries.
 To maintain free and fair trade.

International marketing aims to achieve all the objectives and establish a

connection among the nations that participate in global trade. Establishing a
business in one’s home country has limited restrictions and demands but when it
comes to marketing at international level, one has to consider every minute
detail and the complexities involved therein. In such instances, the demand
grows as the market expands, preferences change and the company has to abide
by the rules and regulations of two or more countries.

SCOPE OF THE STUDY

The significance of international business is better than ever as companies

around the world become enhanced connected. It is always played a major role
in a country’s growth and economy. International business is very important for
the sustenance of a country as the gross domestic product or the GDP is reliant
on good foreign business. It is a very broad term because it holds various types
of rules and regulations. It refers to business activities that take place
transversely national frontiers.

The scope of International Business

International business is much broader than international trade. It includes not

only international trade (i.e., export and import of goods and services) but also a
wide variety of other ways in which the firms operate internationally.
International Management professionals are familiar with the language, culture,
economic and political environment, and business practices of countries in
which multinational firms actively trade and invest.

Major forms of business operations that constitute international business are as

follows.

 Merchandise exports and imports

Merchandise means goods that are tangible, i.e., those that can be seen and
touched. When viewed from this perceptive, it is clear that while merchandise
exports mean sending tangible goods abroad, merchandise imports means
bringing tangible goods from a foreign country to one’s own country.
  Service exports and imports

Service exports and imports involve trade in intangibles. It is because of the

intangible aspect of services that trade in services is also known as invisible
trade.

 Licensing and franchising

Permitting another party in a foreign country to produce and sell goods under
your trademarks, patents or copyrights in lieu of some fee is another way of
entering into international business. It is under the licensing system that Pepsi
and CocaCola are produced and sold all over the world by local bottlers in
foreign countries.

 Foreign investments

Foreign investment is another important form of international business. Foreign

investment involves investments of funds abroad in exchange for financial
return. Foreign investment can be of two types: direct and portfolio investments.

 Monopoly Power

It might arrive from patent rights, technological advantages, product segregation

etc. Another reason for internationalization is limited market information.

 Benefiting from currency exchange

Those who add an international business to their assortment may also advantage
from currency fluctuations. For example, when the U.S. dollar is down, you
might be able to export more as foreign customers benefit from the favorable
currency exchange rate.
  Limitations of Domestic Market

Some demographic trends such as a contraction in birth rate decline in domestic

demand, fully tapped market potential have adverse effects on some businesses.
When the domestic market is small, international business is the option for
growth. Depression in the home market drives companies to explore foreign
markets.

 Increased revenues

One of the top advantages of international business is that you may be capable
to enlarge your number of probable clients. Each country you add to your list
can open up a new path to business growth and increased revenues.

 Growth opportunities

Foreign markets both developed country and developing country provide

considerable expansion opportunities for the firms from a developing country.
MNCs are interested in no. of developing countries due to initially increasing in
their income and population of the predictable 1 billion increases in world
population during 2000 to 2015; only about 3% will be in the high-income
countries, foreign markets, both developed and developing countries after ample
opportunities for developing country firms also.

 Expand and diversify

International business can enlarge and expand its activities. This is because it
earns very high profits. It also gets financial help from the government.
  Opportunity to specialize

International markets can open up avenues for a new line of service or products.
It can also give you an opportunity to specialize in a different area to serve that
market.
1.3 LIMITATIONS OF STUDY

 Tariffs

A tariff is a tax on imported goods and services. The average tariff on dutiable imports in the
United States (that is, those imports on which a tariff is imposed) is about 4%. Some imports
have much higher tariffs. For example, the U.S. tariff on imported frozen orange juice is 35
cents per gallon (which amounts to about 40% of value). The tariff on imported canned tuna
is 35%, and the tariff on imported shoes ranges between 2% and 48%.

 Antidumping Proceedings

One of the most common protectionist measures now in use is the antidumping proceeding. A
domestic firm, faced with competition by a foreign competitor, files charges with its
government that the foreign firm is dumping, or charging an “unfair” price. Under rules
spelled out in international negotiations that preceded approval of the World Trade
Organization, an unfair price was defined as a price below production cost or below the price
the foreign firm charges for the same good in its own country. While these definitions may
seem straightforward enough, they have proven to be quite troublesome. The definition of
“production cost” is a thoroughly arbitrary procedure. In defining cost, the government
agency invariably includes a specification of a “normal” profit. That normal profit can be
absurdly high. The United States Department of Justice, which is the U.S. agency in charge
of determining whether a foreign firm has charged an unfair price, has sometimes defined
normal profit rates as exceeding production cost by well over 50%, a rate far higher than
exists in most U.S. industry.

 Quotas

A quota is a direct restriction on the total quantity of a good or service that may be imported
during a specified period. Quotas restrict total supply and therefore increase the domestic
price of the good or service on which they are imposed. Quotas generally specify that an
exporting country’s share of a domestic market may not exceed a certain limit.

In some cases, quotas are set to raise the domestic price to a particular level. Congress
requires the Department of Agriculture, for example, to impose quotas on imported sugar to
keep the wholesale price in the United States above 22 cents per pound. The world price is
typically less than 10 cents per pound.

Although such restrictions are called voluntary, they typically are agreed to only after
pressure is applied by the country whose industries they protect. The United States, for
example, has succeeded in pressuring many other countries to accept quotas limiting their
exports of goods ranging from sweaters to steel.

A voluntary export restriction works precisely like an ordinary quota. It raises prices for the
domestic product and reduces the quantity consumed of the good or service affected by the
quota. It can also increase the profits of the firms that agree to the quota because it raises the
price they receive for their products.

 National Security

It is sometimes argued that the security of the United States would be threatened if this
country depended on foreign powers as the primary source of strategic materials. In time of
war, the United States might be cut off from sources of foreign supply and lose some of the
materials upon which U.S. industry depends.

One area where the national security argument is applied is the oil industry. Given the
volatility of the political situation in the Middle East, some people say, the United States
should protect the domestic oil industry in order to ensure adequate production capability in
the event Middle Eastern supplies are cut off.

An alternative to tariff protection of strategic commodities is to stockpile those commodities

for use in time of crisis. For example, the United States maintains a strategic petroleum
reserve for use in case of a cutoff in foreign supplies or domestic crises. For example,
strategic oil reserves were tapped in the wake of pipeline and refinery disruptions following
Hurricane Katrina in 2005.

 Job Protection

The desire to maintain existing jobs threatened by foreign competition is probably the single
most important source of today’s protectionist policies. Some industries that at one time had a
comparative advantage are no longer among the world’s lowest-cost producers; they struggle
to stay afloat. Cost cutting leads to layoffs, and layoffs lead to demands for protection.

The model of international trade in perfect competition suggests that trade will threaten some
industries. As countries specialize in activities in which they have a comparative advantage,
sectors in which they do not have this advantage will shrink. Maintaining those sectors
through trade barriers blocks a nation from enjoying the gains possible from free trade.

A further difficulty with the use of trade barriers to shore up employment in a particular
sector is that it can be an enormously expensive strategy. Suppose enough of a foreign good
is kept out of the United States to save one U.S. job. That shifts the supply curve slightly to
the left, raising prices for U.S. consumers and reducing their consumer surplus. The loss to
consumers is the cost per job saved. Estimates of the cost of saving one job in the steel
industry through restrictions on steel imports, for example, go as high as $800,000 per year.

 Cheap Foreign Labor and Outsourcing

One reason often given for the perceived need to protect American workers against free
international trade is that workers must be protected against cheap foreign labor. This is an
extension of the job protection argument in the previous section. From a theoretical point of
view, of course, if foreign countries can produce a good at lower cost than we can, it is in our
collective interest to obtain it from them. But workers counter by saying that the low wages
of foreign workers means that foreign workers are exploited. To compete with foreign
workers, American workers would have to submit themselves to similar exploitation. This
objection, however, fails to recognize that differences in wage rates generally reflect
differences in worker productivity.

Consider the following example: Suppose U.S. workers in the tool industry earn $20 per hour
while Indonesian workers in the tool industry earn only $2 per hour. If we assume that the
tool industry is competitive, then the wages in both countries are based on the marginal
revenue product of the workers. The higher wage of U.S. workers must mean that they have a
higher marginal product—they are more productive. The higher wage of U.S. workers need
not mean that labor costs are higher in the United States than in Indonesia.
Further, we have seen that what matters for trade is comparative advantage, not comparative
labor costs. When each nation specializes in goods and services in which it has a comparative
advantage—measured in the amounts of other goods and services given up to produce
them—then world production, and therefore world consumption, rises. By definition, each
nation will have a comparative advantage in something.

A particularly controversial issue in industrialized economies is outsourcing, in which firms

in a developed country transfer some of their activities abroad in order to take advantage of
lower labor costs in other countries. Generally speaking, the practice of outsourcing tends to
reduce costs for the firms that do it. These firms often expand production and increase

 Differences in Environmental Standards

Another justification for protectionist measures is that free trade is unfair if it pits domestic
firms against foreign rivals who do not have to adhere to the same regulatory standards. In
the debate over NAFTA, for example, critics warned that Mexican firms, facing relatively lax
pollution control standards, would have an unfair advantage over U.S. firms if restraints on
trade between the two countries were removed.

Economic theory suggests, however, that differences in pollution-control policies can be an

important source of comparative advantage. In general, the demand for environmental quality
is positively related to income. People in higher-income countries demand higher
environmental quality than do people in lower-income countries. That means that pollution
has a lower cost in poorer than in richer countries. If an industry generates a great deal of
pollution, it may be more efficient to locate it in a poor country than in a rich country. In
effect, a poor country’s lower demand for environmental quality gives it a comparative
advantage in production of goods that generate a great deal of pollution.

Provided the benefits of pollution exceed the costs in the poor country, with the costs
computed based on the preferences and incomes of people in that country, it makes sense for
more of the good to be produced in the poor country and less in the rich country. Such an
allocation leaves people in both countries better off than they would be otherwise. Then, as
freer trade leads to higher incomes in the poorer countries, people there will also demand
improvements in environmental quality.