Industry Scenario Analysis Of Arcelormittal Economics Essay

Industry Scenario Analysis Of Arcelormittal Economics Essay Steel is a very important material used in everything from construction to machines, automobiles, appliances and even weapons. Steel has laid the foundation for modern civilization and it played a crucial part in the development of industries all over the world. Essentially it is an alloy with a major content of iron and the rest carbon varying anywhere between 0.2 percentage and 2.1 percentage. Steel itself has been in existence over many hundreds of years but the process of making it has evolved as years progressed along with technology. Steel distinguishes itself from other metals and alloys based on rust resistance, recyclability and weld ability. The advancement of the steel industry is often linked to the economic development as it played a crucial role in it. Around 1.3 billion tonnes of steel was produced in 2007. And according to reports it is expected to grow by more than 10 % in 2010. (Peter Marsh, 2009) ArcelorMittal Mittal steel acquired Arcelor in June 2006 to become the worlds largest steel producer. With operations in more than 60 countries it has its industries rooted in more than 20 countries over four continents. Arcelor based in Luxemburg was the biggest steel producer in Europe when Mittal acquired it after a dramatic five month long takeover battle. Currently Mr.Lakshmi Mittal is the Chairman and main owner of ArcelorMittal. According to ArcelorMittal, it had a crude steel production of 73.2 tonnes which is approximately 8 percentage of the total steel production in the world. It had revenue of $65.1 billion. Listed in stock exchanges of New York, Amsterdam, Paris, Luxemburg, Brussels and Spain it is a global industrial force to be reckoned with (ArcelorMittal, 2010). Major Competitors in the Steel Industry After the acquisition of Arcelor, ArcelorMittal firmly established itself as the leading steel producer in the world. According to the World Steel Association in 2008, the top 5 players in steel the industry were: ArcelorMittal Nippon Baosteel POSCO Hebei Steel Group Rank Company Amount of Production (Million Metric Tonnes) 1 ArcelorMittal 103.3 2 Nippon 37.5 3 Baosteel 35.4 4 POSCO 34.7 5 Hebei Steel Group 33.3 (World Steel Association, 2008) Key Competencies The steel industry focuses on core competency factors such as: advanced technology for example use of advanced laser cutting tools during the production stage environment sustainability by ensuring no damage or pollution to nature employee enrichment example good training and technological exposure effective management of competition with superior technology with constant research and development responsibility to shareholders ArcelorMittal claims the entire above core competencies required in the industry. It has developed a robust corporate social responsibility strategy with the four key points of focus: making steel more sustainable by making steel production greener and environmental friendly transparent governance by careful study of impacts and risks and improvement in quality of disclosure to stakeholders enriching communities by engaging them and progressing with partnerships and open communication investing in people by ensuring safe and healthy work environments which is also innovative These four key strategies form their core competency strategy and were formed soon after the merger of Arcelor and Mittal by careful research and studies into other major players in the industry (ArcelorMittal, 2010). Key Resources The steel industry depends on all or most of the following key resources for its sustainability and growth: Iron ore Coal Limestone Steel scraps Technological resources Research and development resources Human resources (Steel University, 2002) Growth rate and Profitability of the Steel Industry According to the World Steel Association, the major steel production over the world has increased as compared to the previous year. The production in 2009 November was 107.5 million metric tonnes (mmt) which was 24.2 % more than in November 2008. They claim that a month on month comparison with the previous year production definitely shows more production in 2009 as compared to 2008. (World Steel Association, 2010) In terms of profitability, steel prices have had a steady rise helping many companies like Fosun in China to move up in the list from fifteenth to sixth position. Reports clam that it had revenue of $5.7 billion last year. Price of steel has increased over the last year by 35 % and is currently at $ 230 per tonne (Michael Sainsbury, 2010). Many steelmakers in Europe and U.S are investing more in the industry indicating a possible increase in profitability (Alex MacDonald Alexander Kolyandr, 2010). Firms Performance Even though ArcelorMittal is the leading producer of steel in the world and even with the increase in production the same cannot be said of its profits. ArcelorMittal is said to make a net loss of $792 million. Mr Mittal expressed his opinion that the growth in profits would be slow and progressive over time. Mostly the low profits registered were due to efforts of the company to change its debt structure and bring it down from the current $ 22 million. ArcelorMittal is planning to invest around 4 billion in capital expenditure (Alex MacDonald Alexander Kolyandr, 2010). Industry Forces (Porter, 2008) Using Porters five forces framework examining Arcelor Mittals competitive forces we get the following results: Threat of entry: The steel industry has low potential threats in the form of new entrants in the market due to the heavy investment required. Even then new entrants such as Sererstal and Evraz in Russia pose considerable threat to existing steel producers. Rivalry among existing players: While new entrants maybe rare existing competition poses the largest threat to Arcelor Mittal. Close competition in mainly from China, Nippon. Analysts predict the steel industry growth is going to be concentrated in Asia in the future. Other competitors like Tata Steel, Baosteel and POSCO also have to be fought off from eating up profits. Power of buyers: The bargaining powers of buyers are not to be underestimated. Even with growing production the steel industry has not been able to show growth in profitability in the same light due to falling prices. Competition has also led to this state of economic crisis. Power of suppliers: The major suppliers where ArcelorMittal is considered are the iron ore suppliers. Main ore suppliers in the market like Vale, Rio Tinto, BHP and Gloucester were accused by major steel industries of raising ore prices and shifting bargaining power in their favour (Sarah, 2010). ArcelorMittal even raised concerns about possible joint venture by BHP and Rio stating that they were already in power were prices were concerned and this venture could affect the steel industry adversely. (Alex, 2010) Substitutes: Many substitutes to steel such as aluminium pose competition in areas like automobile and aircraft manufacturing. Opportunity or Threat? Entrants: Entrants into the industry are definitely a threat to ArcelorMittal as it would swallow profits and take up part of their space in the global market. The threat that exists may be more of a local nature for example when new entrants come at national level inside a country. Threat of new entrants are however a minor possibility and a rare occurrence and hence not much cause for concern. Existing players: Existing players pose more of a threat than new entrants as they are a force to be reckoned with. They pose a threat in terms of price. ArcelorMittal is the biggest steel producer in volume but not the most profitable. Low prices offered by other existing companies lure away customers and result in lower profits for ArcelorMittal. Power of Buyers: This could be more of an opportunity for ArcelorMittal in the sense that having the biggest resources in their hand they may be able to easily attract buyers. ArcelorMittal has modern technology which is a major attractive feature to potential buyers. Power of suppliers: This is the largest threat so far to the industry. They are hard to deal with. Price bargaining power seems to be concentrated on the part of suppliers and have negatively affected ArcelorMittal and the steel industry as a whole. Joint venture between Rio and BHP is most certainly an offensive strategy. Substitutes: Substitutes do pose a certain amount of threat. But it also holds an opportunity for the industry to research and develop more and more uses for steel and also make advancements in the production processes. As it is technology has enabled steel to be manufactured more thinly than ever before. Experiments in alloy compositions have resulted in more products and discovery of their applications. Industry Position As far as ArcelorMittal is concerned it strongly suggests that the steel industry is a developing industry with a lot of potential. Many of the risky decisions taken by the company were its strong belief in this industry. ArcelorMittal has not broken its stride in its development since it began. New acquisitions and entry into new markets have only confirmed this. ArcelorMittal plans on staying in this market and even acquired Uttam Galva Steels Ltd in India predicting that the next big steel consumer would be India with its rising population and automobile industry (ArcelorMittal, 2010). Mr Mittal also predicted a 10 % growth in the industry in 2010. Combatting Industrial Threats The steel industries face various industrial threats and have to be ready to overcome these threats and still stay in the game. Some examples are as below: Iron ore price: Suppliers are mostly in control of iron ore pricing and these are directly responsible for steel industry profitability. Recently Rio one of the largest suppliers in this market took a decision to price the iron ore on a quarterly basis changing the annual pricing standard. This is was a major setback for the steel industry. The World Steel Association was in negotiation with the iron ore suppliers to change this norm as the steel industries were still recovering from global recessions (James Regan, 2010). A good industrial relation would help overcome this problem. If the whole steel industry disagreed on this and refused to buy on this pricing norm, a change could be brought about. Also it is important to keep communication open between the suppliers and the market and make it clear that their survival depends on the growth of the industry and such decisions could be a setback affecting both the buyer and supplier in one way or the other. European Emissions Trading System: Many companies in the steel industry like ArcelorMittal and Lafarge faced heavy charges based on the carbon emissions according to the EU trading scheme. They were able to combat this problem by lobbying together and convincing the European Union that they deserved considerable reductions in this or they would be forced to shift location of their plants to more profitable nations. This would be an economic downfall or the EU and hence they succumbed to the threat (The Ecologist, 2010). Economic Recession: This is the most dangerous threat of all to the steel industry. In countries like Russia, an entire city depends on a steel plant for its livelihood and in times of recession these places are hit hard and employment rates soar. In such times the government adopts strict measures and sometimes even offer ultimatum to steel companies to improve performance or leave. During this global recession, Siberian government threatened to seize the assets of ArcelorMittal if they failed to increase coal production in their mines. Such situations call for a contingency plan. Companies must be ready for worst case scenarios instead of always looking at a brighter prospect (Stratfor, 2009). Competing firms can combine and combat threat in the industry through organizations like World Steel Association. A strong stand on any issue facing the industry would help to resolve the problem. Recent trends in the industry indicate a higher volume of steel consumption especially in the Asian region and companies are all set to take advantage of this situation by concentrating their efforts in this region. ArcelorMittal hopes to take advantage of this situation and have already set this in motion by purchasing Uttam Steel in India. They are all set to harness the high revenue automobile market by doing so. ArcelorMittal plans on staying in the leadership position by having a strong consistent management strategy. ArcelorMittal states that they lay special emphasis on product diversity, geographic reach, vertical integration both into raw material production, designed to minimize risk caused by economic cycles, and downstream distribution, providing value added and customised steel solutions through further processing to meet customer specific requirements .According to them customers form the core of their business. They also give prime importance to transferring tomorrow with Sustainability, Quality and Leadership (ArcelorMittal, 2010). Top Players in the Steel Industry The top ten players in the steel industry are as follows: ArcelorMittal Heibei Steel Group Baosteel POSCO Wuhan I S Anshan Benxi Shagang Nippon Steel JFE Tata Steel According to news reports, the Chinese are overtaking steel production. More than half the top ten steel producers in the world are from China. (China Tells, 2009) ArcelorMittal is the largest producer and will remain to be so due to its highly competitive investment strategy. Another fast growing company is Tata Steel with its acquisition of Corus, the second largest steel producer in Europe, it poses considerable competition to ArcelorMittal. Positioning of Players in the Industry The major players in the industry are positioning themselves based on the following factors: Environment: With the growing competition and supplier power, the major steel players are trying to find a balance between growth and profitability. Many reforms in the industrial laws and globalisation trends have proved to be both good and bad for the industry. The economic trends have been particularly bad for the industry over the past few years. But this is expected to change and growth in industry and profitability is expected in the next few years. Capability: Each player in the industry is vying for the top technological advancements and is investing heavily in their capital infrastructure as well as in research and development. It has become a highly competitive market. Purpose: The major steel companies are also turning more and more to corporate social responsibility and are taking efforts to implement an environmental friendly production plant and processes. (Johnson, Scholes and Whittington 2008) Role of Distribution and Logistics While the Chinese steel manufacturers are advancing they still lag behind in terms of distribution and logistics as compared to the developed countries. The Chinese government has however taken more interest in this after its entry in the World Trade Organization and are planning to invest more in this sector (China International Steel Distribution and Logistics Conference, 2007). Distribution and logistics play a crucial role especially in the case of automobile industry where new vehicles have a fluctuating demand for materials. ArcelorMittal stayed on top of the game by finding solutions for failings on of the buyer in terms of wrong order, changing order etc. In fact ArcelorMittal won the Logistics award from PSA Peugeot Citroen in March 2010 (Vincent Daenen, 2010). Acquisitions and Mergers and Ownership Patterns Acquisitions and mergers in the industry have definitely changed the ownership patterns in the global steel industry. The biggest change in the history of the steel industry was the acquisition of Arcelor by Mittal steel to form ArcelorMittal. This resulted in the company becoming the worlds top producer of steel. Acquisitions also have helped the companies to penetrate some markets. For example the Tata acquiring Concur resulted in its entry into European markets and Arcelor acquiring Uttam Steel in India also helped it enter a fast developing market. In this industry strategic alliances may not be always possible as it is a highly competitive industry with each player vying for more market share. In such a scenario spin offs or creating of new entity may be the solution. This would help create synergy by combining resources and moving in towards the same goals. Environmental Changes and Constraints Affecting the Industry The changes in the business environment in terms of technological, political, social , etc have a deep impact on the steel industry. Some examples are as follows: Economic changes: the global recession hit the steel industry hard. Profitability went down considerable and even the major players like ArcelorMittal faced threats of shutting down of some of their operations. This has also made them aware of their need to change their debt capital infrastructure after the recession receded. Climatic changes: the Emissions Trading directive has had a direct impact on the three main emissions in the industry which are the coke oven gas, blast furnace gas and basic oxygen furnace gas (EUROFER, 2010). Many of the steel producers have to ask for special treatment or risk change of plant locations. Technological changes: technological diffusion is called for in countries especially China who is expected to lead in the greenhouse gas emissions by early next century owing to its high economic growth rate and also its use of coal (Fisher-Vanden, Karen, 2010). Social changes: Social changes as in the treatment of employees have evolved with the advancement in the steel industries. ArcelorMittal is a company that invests heavily in manpower, its safety and development in its company (ArcelorMittal, 2010) Changes in Customer Demand Patterns The customer demand has been on a rise Financial Strategies in the Industry Conclusion Likely Scenario Pessimistic Scenario OptimisticScenario

The Mood of Romeo and Juliet

The Heartbreaking Ending: A Tragic Mood in Shakespeare’s Love Story Most people think of Romeo and Juliet, by William Shakespeare, as a love story. But as the title suggests, The Tragedy of Romeo and Juliet is just that: a tragedy. The narrative is about the struggles of Romeo and Juliet’s love despite the century-long feud between their families. Like many tragedies, which end with fatality, the play ends with the deaths of the â€Å"star-crossed lovers. † Throughout the play, Shakespeare conveys strong feelings, or moods. In Act Five, Scene Three of Romeo and Juliet, Shakespeare uses imagery, irony, and symbolism to create a tragic mood.The first device Shakespeare uses to create a tragic mood is imagery. After the bodies of Romeo, Juliet, and Paris are found, Lady Capulet describes the scene in Verona: O, the people in the street cry ‘Romeo,’ Some ‘Juliet,’ and some ‘Paris’; and all run With open outcry toward our monumen t. (V. iii. 191-193) These lines show the chaotic aftermath of the death of the three adolescents. This creates a tragic mood because the audience gets a picture of a sad, weeping community. The sense of distress and grief depicts tragedy and sorrow throughout the town. A second device used is irony.There are many examples used in Act Five. One instance of dramatic irony is when the audience knows that Juliet is under a sleeping potion, but Romeo does not, and he is about to kill himself. When Romeo enters the Capulet tomb, he sees Juliet and cries out: Death, that hath sucked the honey of thy breath, Hath had no power yet upon thy beauty. Though art not conquered. Beauty’s ensign yet Is crimson in thy lips and in thy cheeks And death’s pale flag is not advanced there. (V. iii. 92-96) Here Romeo is describing Juliet and how beautiful she is, even though she’s â€Å"dead. † She is actually beautiful because she is still alive!The audience feels so awful fo r Romeo, because right after he kills himself Juliet wakes up and finds her lover is dead because of her. Shakespeare’s use of irony appeals to the readers’ emotions, creating a tragic mood. Lastly, Shakespeare created a tragic mood by using symbolism. Previously, the Friar described poison in a soliloquy: O, mickle, is the powerful grace that lies In plants, herbs, stones, and other true qualities; For naught so vile that on the earth doth live But to the earth some special good doth give; Nor ought so good, but, strained from that fair use, Revolts from true birth, stumbling on abuse. (II. iii. 5-20) The Friar is saying that +true and naturally good things can be turned bad when not properly used, like poison derived from plants. This is like the feud between the Montagues and Capulets, which corrupted the love between Romeo and Juliet to the point of death. This creates a tragic mood because something completely innocent has been manipulated by human hands. The pois on was originally harmless plants; it symbolizes the feud between the families. Both the poison and the feud literally and figuratively killed Romeo and Juliet. This creates a tragic mood because if it were not for the feud, they would have lived happily ever after.Shakespeare created a tragic mood in Romeo and Juliet by using irony, imagery, and symbolism. Imagery gives us insight to the chaotic mess of people in Verona. Irony plays on our emotions and makes us sympathetic for Romeo’s unawareness. Symbolism gives a deeper meaning to the deaths. He contrasts this tragic mood with the feelings of love and romanticism earlier in the play. Shakespeare does this to show that in life, things go wrong and there are not always happy endings. Works Cited Shakespeare, William. The Tragedy of Romeo and Juliet. Elements of Literature Third Course. Orlando: Holt, 2007. 901-1024.

Definition on Love Essay

A definition essay on love strives to define it as an emotion felt and displayed by humans, animals, and all living beings in their own way. It is a topic that has been written about through the ages and has found its way into books on literature and religion. Love knows no bounds and language is never a barrier. Wars have been fought over it. People have been and are still influenced by the emotion of love. Some of the best literary works are based on love, and even movie makers bank on it to win over viewers and create a hit. Love can be expressed in many ways. God has shown his love for us by offering us the emotion to share with others. In return, we love God for all the wonderful things he has given us. Our devotion towards God demonstrates love in the form of reverence. The love formed out of respect is the same love we have for our elders, family, and people we look up to. In a love essay, you could elaborate on love that one has for his family. It could be connected with religion, respect, or pure love not based on any conditions. A Romeo and Juliet essay is the ideal love story between man and woman. The word â€Å"romance† has been used in many ways to show love and affection between Romeo and Juliet. In modern society, people who are romantically attracted exhibit their love for each other with the help of cards, gifts, and words of love. The way love is expressed changes materially but the emotion remains the same. Couples find love in sex, affection for each other, and by communicating with each other more frequently. In fact, mankind has evolved through love between Adam and Eve. When you have to write a definition essay on love, aim to write a drama essay that incorporates love as its theme. It would generate interest among readers, and you would find many definition essay examples to choose from. The best way to write such an essay would be to look up dialogues from literary works of famous authors like William Shakespeare. Dialogues are the true expression of love that is exhibited through words. The best part is that you can refer to literary works written through the ages and get inspiration from the one you like the most. There are several other definition essay topics you can choose. It basically depends on the audience you want to write for. The topics could be on relationships in the family. You could write about the love between brothers and sisters. How different is a father’s love for his children from a mother’s love? You need to be old enough to really understand romantic love between two people, which is very intimate and sexual in nature. The aim of your essay differs with age. Choose more complex topics on love as you grow older. The emotion of love is progressive. You would be in a better position to write about love in its various manifestations when you personally experience it. The definition essay on love would truly carry your personal point of view, which of course would make writing the essay very easy.

Scientific Revolution as Foundation for the European Science Argumentative Essay

One of the generally established positions considering the scientific revolution of the XVII century is that the European science (primarily related to the classical natural sciences) originated from it. It is interesting that it emerged at once in the interrelation of all components: theoretical knowledge, its rationale and mathematical description, experimental testing, social structure with network of scientific communication and public application. Among the phrases that can best show the way of thinking that started acting at that time, there is one William Gilbert wrote in his Preface: â€Å"LIFE is a Chemical Process: In that of every Individual there has been some new material thrown in, or a new mode has been adopted, of conducting the process; the result is always interesting; for the subject of the experiment is Man† (Gilbert 1). When analyzing this period, the main focus usually lies on the relationship between cognitive, social and psychological factors of the formation process of the new science, its difference from what might be called not science. The sources for the subject study were first published works of creators of the natural sciences, humanities and technical direction of the new time from Francis Bacon, Descartes, Galileo Galilei to Newton. If we consider the geography of the period, we will see that it involves a lot of European countries and cities, but is it possible to distinguish Italy at the beginning and Britain at the end as major research centers. This period of time has also specific criterion of periodization associated with understanding of the phenomenon of the scientific revolution. Three stages can be singled out. The first, related primarily to the activities of Galileo the formation of a new scientific paradigm, the second with Descartes the formation of the theoretical and methodological foundations of the new science, and the third with Newton completion of the new scientific paradigm the beginning of the modern science. A large number of works of different character were devoted to the development of science in the XVII century: multi-volume works of Galileo, Descartes, Leibniz, Newton, detailed biographies, correspondences, historical research of natural science, philosophical and sociological character. While not everyone agrees with the definition of scientific revolution, first introduced in 1939 by A. Koyrà © and subsequently used successfully by T. Kuhn, but all agree that it was in the XVII century when science was established the classical science of the modern type. In this regard, the XVII century as a complete historical phenomenon is extremely important for understanding the genesis and the present state of science. It further results in what Descartes wrote in his work: â€Å"And thereby make ourselves, as it were, the lords and masters of nature† (Descartes 44) The basis for the new type of world view, the new science was laid by Galileo. He began to create it as a mathematical and experimental science. The starting point was the argument that for clear judgments formation about the nature, scientists have to regard only objective properties – those that can be measured accurately, while properties available just for perception should be ignored as subjective and ephemeral. Only through quantitative analysis of science it is possible to get the right knowledge about the world. In order to go deeper into the mathematical laws and understand the true sense of nature, Galileo perfected and invented a lot of technical equipment lenses, telescopes, microscopes, magnet, air thermometer, barometer, etc. The use of these devices gave empiricism new dimension unknown to the Greeks. Former scholastic deductive thinking about the universe had to give way to its experimental study to comprehend its existing impersonal mathematical laws. Galileo found a scientific point of contact between inductive and deductive methods of the nature study, making it possible to link the scientific thinking, impossible without abstraction and idealization, with a particular perception of the phenomena and processes of nature. Galileo discoveries in mechanics play a very important role for the modern science, because with completely new categories and new methodology, he decided to destroy the dogmatic construction dominant in the Aristotelian scholastic physics, based on superficial observations and speculative calculations, overflowing with teleological notions of motion of things in accordance with their nature and the aim of the natural and violent movements of the natural heaviness and lightness of bodies, perfection of circular motion as compared to straight, etc. Based on the criticism of Aristotelian physics, Galileo created his program of science building. Galileo developed dynamics the science of the motion of bodies under the influence of the applied forces. He formulated the first laws of the free fall of bodies, gave a strict definition of the concept of speed and acceleration, realized the critical properties of the motion of bodies, which later was called inertia. His ideas on the relativity of motion were very valuable. Philosophical and methodological importance of the laws of mechanics discovered by Galileo was huge, because for the first time in the history of human thought the concept of natural law in the modern sense was formulated. Galileos laws of motion together with his astronomical discoveries led up the physical basis to the Copernican theory, which its creator himself did not have yet. Heliocentric doctrine was becoming a theory from the hypothesis. Newton was the one to complete the Copernican revolution. He proved the existence of gravity as a universal force – the one that makes rocks fall to the Earth and is the cause of the closed orbit of the planets revolving around the sun. Newton’s merit was also the fact that he united the mechanistic philosophy of Descartes, Keplers laws of planetary motion and Galileos law of motion of the Earth, bringing them into a comprehensive theory. After a series of mathematical discoveries, Newton draw a conclusion: for the planets to be held on stable orbits with respective velocities and at appropriate distances, determined by the Keplers third law, a certain force should be drawing them to the Sun, which is inversely proportional to the square of distance from the Sun. Bodies falling on the Earth are also subject to this law (it is not only about stones, but also the moon both terrestrial and celestial phenomena). Moreover, on the basis of this law Newton mathematically dedu ced the elliptical form of the planetary orbits and change in their speeds, following the definitions of the first and the second laws of Kepler (Huff 157). A response was obtained to the most important cosmological issues that supporters of Copernicus faced – what causes the motion of the planets, how they manage to keep within their orbits, and why heavy objects fall to the Earth. The dispute about the structure of the universe and the relationship between celestial and terrestrial was settled. Copernican hypothesis generated a need for a new, comprehensive and independent cosmology and now it was found. With the help of the three laws of motion (the law of inertia, law of acceleration and the law of equal and opposite reaction) and the law of universal gravitation Newton not only formed the scientific foundation for Keplers laws, but also explained the tides, orbits of comets, the trajectory of cannonballs and other projectiles. All the known phenomena of celestial and terrestrial mechanics were then brought under a single set of physical laws. Confirmation for the views of Descartes, who believed that nature was perfectly ordered mechanism obeying to the mathematical laws, was found. The main achievement of the scientific revolution was the collapse of the medieval picture of the antique world and the emergence of new traits of the worldview that allowed for creation of the modern science. Natural science ideology foundation was made by the following notions and approaches: naturalism the idea of ​​self-sufficiency of nature, driven by natural, objective laws; mechanism view of the world as a machine consisting of elements of varying degrees of importance and generality, the rejection of previously dominant symbolic and hierarchical approach that represented each item in the world as an organic part of the holistic being; quantitativity a universal method of quantitative comparison and evaluation of all the objects and phenomena in the world, the rejection of the quality of thinking of antiquity and the Middle Ages; causal automatism a rigid determination of all phenomena and processes in the world with natural reasons that can be described by t he laws of mechanics ; analytism – origin of the analytical work over synthetic in thinking of scientists, non-abstract speculations characteristic of antiquity and the Middle Ages; geometrism approval of an infinite homogeneous picture, describing the geometry of Euclid and managed by unified cosmic laws of the universe (Osler 28). The second most important result of the scientific revolution was the connection of speculative natural philosophy traditions of antiquity and medieval science and craft and technical activities with industry. Another result of the scientific revolution was the adoption of the hypothetico-deductive method of learning. The basis of this method is the core of the modern science, forming a logical conclusion of the accepted hypotheses and their subsequent empirical verification. Overall, the main conclusions of the scientific revolution can be summarized in the following way: Old Space was outdated and destroyed; the new picture of the world was formed, replacing the old cosmos, which was more or less like a huge clock it had nothing alive and indefinite and, it seemed, that everything could be calculated (Kepler’s determinism). Science found its mechanisms and procedures for the construction of theoretical knowledge, and self-test, its language, especially in its mathematical form, which became the flesh of the method. Science became a social system its own professional organizations were founded, as well as print media, the whole infrastructure (including special tools). Specific rules and codes of conduct, channels of communication were also created. Through distribution of scientific principles, science becomes a powerful intellectual force a school of correct thinking affecting specific processes in a variety of forms. Growing out of mysticis m, science was gradually overcoming it. Works Cited Descartes. Discourse on Method in Discourse on Method and Related Writings. Trans. Desmond M. Clarke. New York: Penguin edition, 1999. Print. Gilbert, William. â€Å"Preface.† Williamgilbert.com. n.d. Web. 16 Nov. 2012. Huff, Toby E. Intellectual Curiosity and the Scientific Revolution: A Global Perspective. Cambridge: Cambridge University Press, 2010. Print. Osler, Margaret J. Rethinking the Scientific Revolution. Cambridge: Cambridge University Press, 2000. Print.