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International Business in Emerging Markets - Essay Example
Pages 12 (3012 words)
Two emerging markets that will be discussed here are of automobiles and telecommunication. These two markets are advancing day by day and playing important roles in the world and attracting a lot of attention from people of all fields and around everywhere…
An automobile is basically regarded as a vehicle having wheels and carrying its own engine. The previous names given to an automobile were "horseless carriage" and "motor car" where motor was to denote an engine. The behaviour or making an automobile work is entitled as driving. Every automobile consists of a seat for driver and at least another seat for the passenger (http://business.mytopix.com/automobile/).
Mainly automobiles are designed for travelling on roads but there are some automobiles which permit people to drive "off-road." Basically an automobile is made up of "internal combustion engine" but as years passed, "hybrid cars powered by gas-electric hybrid engines" penetrate the market. A typical automobile consists of four wheels, though three-wheeled automobiles were also made but did not gain much popularity due to constancy purpose (http://business.mytopix.com/automobile/).
"Steam-powered self propelled vehicles were devised in the late 18th century. Nicolas-Joseph Cugnot successfully demonstrated such a vehicle as early as 1769. The first vehicles were steam engine powered, and then electric vehicles were produced by a small number of manufacturers. In the 1890s, ethanol was the first fuel used by cars in the U.S. In 1919, alcohol Prohibition destroyed corn-alcohol stills which many farmers used to make low cost ethanol fuel. Later on gasoline and diesel engines were implemented." (http://business.mytopix.com/automobile/)
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