• Economic Diversity is when the country has incomes from many different sources that are not directly related to each other.A good example of a poorly diversified economy is that of Saudi Arabia. A very large part of their income depends on the production and sale of oil to other countries. Which means that their standard of living sometimes fluctuates wildly in correlation with the price of oil. The US economy is a good example of a better diversified economy. Because USA gets its income from many different types of economic activity including manufacturing, agriculture, and financial services.

• feature of India is its diversity in terms of religion, caste, language and culture. It has twenty eight states, seven union territories, 22 national languages, 1162 other languages

and dialects and almost all the religions of the world have adherents in the country. India is not only unique in terms of its diversity but is also a classic example of a multicultural, multireligious

• Causes for economic Diversity: The main causes of economic diversity are Poverty Wealth Disability Age Unemployment Culture Education Causes for poverty can be a number of reasons Helpful textbooks are Children's Care,...

• Language is a crucial element of one’s identity and it is akin to the window through which individuals look at the world. Language not only enables all humans to feel, understand and locate themselves but is also critical to such basic mental processes such as thinking, understanding and even dreaming.

• Language, defined as the collection of words and the rules of syntax and grammar thatgovern how words are to be arranged in order to convey a particular meaning, may be said to form the core of any culture.

• The Constitutional Mechanism• India is linguistically extremely diverse with 22

officially recognized national languages, included in the VIIIth Schedule of the Constitution, and more than 1162 non-scheduled languages and dialects. In Independent India, Hindi was to be the official language of the Union under article 343 of the Constitution,

• Economic Performance of States Economically, the performance of regions in

India has been exceptionally diverse over the past two-and-a-half decades resulting in higher levels of regional disparities. The coefficient of variation (COV) of per capita regional incomes, measured as per capita net state domestic product PCNSDP) at constant prices, increased from 29.4 to 1981-82 to 35.3 in 2005-06. The ratio between the maximum and minimum incomes across regions increased from 3.0 to 4.7 over the same reference period

• The second aspect of regional growth is that seven of the nine states with PCNSDP higher

than the national average in 2005-06, viz. Andhra Pradesh, Gujarat, Karnataka, Kerala,

Maharashtra, Punjab and Tamil Nadu, are non-Hindi states Again, of the nine states whose economies grew at a rate higher than the national average over the period 1980-81 to 2006-07, five states – Andhra Pradesh, Gujarat, Karnataka, Maharashtra andTamil Nadu – are non-Hindi states.

• Two of the remaining four states, Jharkhand and Uttaranchal, were created only in the year 2000 and in terms of economic performance their parent states - Bihar and Uttar Pradesh– are placed near the bottom, with ranks of sixteen and eighteen respectively

Factors influence liberalization:1. Technological change, especially in communications

technology. For example, UK businesses and data by satellite to India (taking advantage of the difference in time zones) where skilled but cheaper data handlers input the data and return it by satellite for the start of the UK working day.

2. Transport is much cheaper and faster. This is not just aircraft, but also ships. The development of containerization in the 1950s was a major breakthrough in goods handling, and there have been continuing improvements to shipping technology since then.

3. Deregulation. From the 1980s onwards (starting in the UK) many rules and regulations in business were removed, especially rules regarding foreign ownership. Privatisation also took place, and large areas of business were now open to purchase and/or take-over. This allowed businesses in one country to buy those in another. For example, many UK utilities, once government businesses, are owned by French and US businesses.

4. Removal of capital exchange controls. The movement of money from one country to another was also controlled, and these controls were lifted over the same period. This allowed businesses to move money from one country to another in a search for better business returns; if investment in one's own country looked unattractive, a business could buy businesses in another country. During the 1990s huge sums of money, mainly from the US, have come into the UK economy.

• 5. Free Trade. Many barriers to trade have been removed. Some of this has been done by regional groupings of countries such as the EU. Most of it has been done by the WTO. This makes trade cheaper and therefore more attractive to business.

• 6. Consumer tastes have changed, and consumers are more willing to try foreign products. The arrival of global satellite television, for example, has exposed consumers to global advertising. Consumers are more aware of what is available in other countries, and are keen to give it a try.

• 7. Emerging markets in developing countries, especially the 'Tigers' of SE Asia eg Thailand. There has been high growth of incomes in these countries, which makes large consumer markets with money to spend. Indonesia, for example, whilst still not particularly rich, has some 350 myn consumers. Both India and China are very poor countries, but there are small middle classes who are doing very well and have money to spend. Although these groups are small in the context of the country, the overall populations are so huge (over 1 byn) that a small middle class adds up to many millions of consumers.

• “CSR” mean in the international context? Corporate social responsibility (CSR) describes companies’ responsibilities vis-à-vis society

in the areas of environment, social issues and economy. CSR initiatives are the contributions that companies make in areas where they interact with wider society in the framework of their business activities. For instance, organise health campaigns for their employees, squeeze energy

consumption with eco-efficiency analyses and energy-saving systems or promote art, culture

and sport.

• Typical problem areas with which companies are confronted:

• Companies have to comply with the statutory provisions of the host country.

• The culture and traditions of the country in question.

• The behavior and social commitment of companies must also take account of the

economic situation in the countries in question

• Public-private partnerships (PPP) are cooperative arrangements between companies and public-sector development organisations. PPP projects combine the dynamism, competence and financial resources of companies with the regional know-how of development organisations and development policy. The synergies can help both sides to achieve their objectives better, quicker, and at lower cost.

General principles, including:• Respect of human rights• Enhancement of human capital through creation of

employment and promotion of employee education and training

• No discriminatory or disciplinary measures against employees who in good faith report to

• Management or the relevant authorities practices which infringe the law, the guidelines or company policy

• No demands for exemptions from ecological or social standards

• No improper involvement in local political activities

Disclosure of information, including:• Regular information about activities, structure,

financial situation, business results• High standards of quality in reporting,

accounting and auditing• Publication of basic information on the parent

company and its main affiliates, its• Percentage ownership, direct and indirect in

these affiliates, including shareholdings between them

Employment/social partners, including:• Worker rights for trade union representation• Abolition of child and forced labour• Ban on discrimination• Promotion of effective collective agreements• Duty of information vis-à-vis workers and their

representatives• Employment of local personnel / training

measures to improve the level of qualification

Environment, including:• Establishment of an environmental

management system• Information to the public and employees

about the possible impact of the company’s activities on environment, health and safety• Drafting of crisis plans, in order to prevent

serious damage to environment and/or health• Training of workers.

Combating corruption, including:• No payments to officials or employees of

business partners• Introduction of management control systems

which discourage bribery and corruption• No illegal donations to candidates for public

office or political partiesConsumer interests, including:• Ensuring product safety• Precise and clear product information• Effective handling of complaints

Knowledge and technology, including:• Promotion of know-how transferCompetition, including:• No anti-competitive agreementsTaxation, including:• Punctual payment of tax debts

• What are corporate and sectoral codes?• I. Corporate codes• Corporate codes or codes of conduct are rules which

companies set for themselves in order to embed their ecological and social principles and values systematically in the company.

• II. Sectoral codes• A sectoral code for social issues and environment is a

framework of principles that representatives of a business sector and sometimes also a sectoral trade union have agreed.

• This framework usually targets compliance with minimum social standards and fundamental Envi-ronmental protection measures.