Case Study of Management of Globalization at Ryanair

Case Study of Management of Globalization at Ryanair With increasing globalisation, numbers of companies are entering different foreign markets but some of them only attain success. This is because of their lack of knowledge about free markets advantages and limitations and role of enterprise within organisations (Brooke 1996). Firms that operate by assessing the impact of globalisation are much able to operate successfully rather than the firms that operate without analysing the impact of globalisation (Vittorio 2006). In this report all these aspects will be discussed with the help of a company, Ryan Air that is one of the oldest and most flourishing low-cost airlines of Europe (About Us 2011). This report will be completed by analyzing all previous researches or studies done in this field and its implications in real life. Different researchers and theorist have analysed free markets, globalisation and role of enterprise within organizations. With their analyses they have also given different theories and approaches that can be used in a workplace to maximise its opportunities. All these theories and approaches will be used to analyse that what extent free market conditions have allowed Ryan Air to grow and prosper (Iyer Masters 2000). As well it will also describe, at what extent the company had benefitted from free market conditions and to what extent it was constrained by limitations on this market. In addition to this, here it will also be analysed that how company and other markets are driven by enterprise led organisations. In the end, it will also be analysed that what extent the air travel market relies on globalisation and what is the importance of global expansion for Ryan Air. As well, in this report the importance of global markets in other industries will also be evaluated along with the analysis of importance of globalisation. Critical Evaluation of Ryan Airs Entry Ryan Air was established in the year 1985 and it entered low cost European air travel market as a low cost airline. The company attained huge success in Europe and it was all because of free market conditions (About Us 2011). The company success due to free market conditions can be understood effectively by critically evaluating it along with the discussion of its benefits and limitations. Significance of Free Market Conditions to Ryanair: Free market conditions refer to an economy or market in which buying and selling of products and services is done without any restriction related to price and valuation. European air travel market is also highly affected with free market conditions that in turn have also affected Ryan Air (Brooke 1996). The company is highly affected by free market conditions and it is an important reason of its growth and success. Due to the effect of free market conditions, the company along with its competitors has become able in allowing market forces to determine the price and values of air travel offered by them (Vittorio 2006). The free market concept was initially conceptualized throughout the First World War but in present it has become a reason of number of economies success. With the free market conditions of Europe, Ryan Air has derived various benefits like flexibility, freedom, and variety that in turn assist it in growing its business operations in Europe and in other foreign countries (Suneja 2000). With the free market conditions like deregulation and free market entry, Ryanair has been able to exploit the Irish and subsequently the European transport market (Brophy George 2003). With the free market conditions, the company has become able in switching its services on the basis of the widespread market conditions. For example, if there is demand on one route, the company is free to change its operations and other route so can take advantage of current profitable route or service (Iyer Masters 2000). The company is able to change its operations or process without undergoing the scrutiny of extreme government protocols. As well, the company management is also free to alter its services and their management according to their own suitability or accessibility for gaining a competitive edge (Rugman 2002). Benefits Limitations of Free Market Conditions to Ryanair: With the increasing free market conditions, Ryanair has attained several benefits in terms of increased freedom, flexibility and limited government controls or protocols. Free market conditions in Europe have allowed company to undertake activities that please them. Consequently, it can serve customers in a way it wants and sell services they think will help it in growing and prospering (Brophy George 2003). In this free market economy, the company also have freedom to change and alter their business operations. As well, government controls are very less to company operations that provide it with a benefit of increasing significantly at national as well as international level. Although there are some government guidelines to operate in air travel market that need to be followed by Ryanair but it has freedom to manage its operations in a way it feels appropriate or beneficial (Rugman 2002). The company have freedom to increase its number of flights and as well determine prices according to market forces or conditions. In condition of increased demand of air travels, the company is free to increase its number of flights so that more and more profits can be attained in comparison to existing competitors. The increased demand of customers can be satisfied significantly by undertaking diverse business decisions and increasing number of flights (Brophy George 2003). The free market conditions also present Ryanair with an advantage of serving its customers with innovative products and services. In regard to free market economy, the company have an advantage to determine what services it will render to its customers with diverse innovations so that they can be offered with best products and services (Vittorio 2006). In this way, it can be said that it is a tool through which Ryanair can easily attain competitive advantage and core competencies. In addition to significant extent of benefits, free market conditions have also presented Ryanair with several limitations like increased competition, high threat of new entrants, high bargaining power of customers etc (Iyer Masters 2000). In free market economy, there are number of low cost airline companies that operate in Europe and present customers with different innovative services. In this kind of environment, it becomes difficult to retain customers in long-run as well their bargaining power is also high as they have several choices available at a time (Rugman 2002). Threat of new entrants is also very high that several times have presented Ryanair with number of limitations. In starting, the company competitors were not as high as in present and due to this, it requires a more planned approach and business strategy (Ryan Air 2009). Free market conditions and economy have served company with number of benefits as well as with some limitations. Role of Enterprise in the Creation and Development of Ryanair In present the concept of an enterprise driven organization has emerged in which the whole organization is undertaken as an enterprise directed with continuous transformation and change. The emergence of this concept is due to uncertain market environment and rapid changes in consumers tastes. By creating and developing an enterprise driven organization, a businessman can significantly attain success (Box Byus 2007). Similar is the case with Ryanair that also made use of enterprise to become a successful low-cost European airline company. In the creation and development of Ryanair, enterprise played a substantial role that can be understood by critically reviewing its effect. Recognition of Ryanair as Enterprise Driven Organisation: Ryanair was started in the year 1985 with only 57 employees and with one 15 seater turboprop plane that used to carry 5000 passengers on one route. In subsequent year of its operations, the company employees increased along with the number of passengers it used to carry. In the year 1990-1991, the company passengers increased to 700,000 (Box Byus 2007). For attaining growth, the company made use of several marketing strategies. As well, the company also transformed its management team so that effective operations can be brought out in the company. The success attained by the company shows that from the time of company initiation, it was having potential of becoming market leader. It was all due to the effect of Michael OLeary as CEO who kept company recognised as enterprise driven organization (Wallace, Tiernan White 2006). Although, the company have confronted several troubles, but from starting its CEO assisted its entrepreneurs to establish and develop their company as an enterprise. This in turn assisted in the creation of an enterprise culture in Ryanair (Graham Nafukho 2007, p. 130). From beginning, the company and its managers have confronted number of problems mainly in concern to handling business operations, management and cost structures. All these troubles have been resolved by implementing different marketing strategies and transforming old strategies. It would not have been possible, if company CEO have not developed an enterprise culture (Mattila, Nandhakumar, Hallikainen Rossi 2009). By becoming an enterprise driven organization, Ryanair has become able in surviving in the present competitive market and growing in the marketplace (Box Byus 2007). Its enterprise-driven culture has facilitated it in implementing different marketing strategy and attaining different competitive advantages like online booking, one class travel, point-to-point flying, in house marketing, ticketless boarding, reduced turnaround times, corporate partnerships, bargaining power, new aircrafts etc (Ryanairs Competitive Advantage 2009). Due to its effective business operations that are directed with an enterprise culture, it is regarded as the most punctual airline between Dublin and London. It is also recognised as the second largest airline in United Kingdom and Europes largest low-fares airline. It operates with a network of more than 57 routes in 11 countries. It is also served by a fleet of 31 Boeing 737-200 and -800 aircraft with more than 1,400 employees. Its enterprise driven culture help it in constantly concentrating on driving its own costs and serve customers with lowest possible fares and as well as continuously remain profitable. Effect of Enterprise Driven Organizations on Other Markets: With the discussion of Ryanair and effect of enterprise driven organizations on its development and creation, it can be said that enterprise driven organisation does not only affect travel and tourism industry. Other markets and industries are also highly affected by enterprise driven organizations (Graham Nafukho 2007, p. 129). In present almost all industries are confronting significant competition and high market uncertainty. For resolving this type of market threats, it has become essential to adopt enterprise-driven organization as it assists marketers in managing their organizations in regard to emerging changes. By creating and developing an enterprise-driven organization, it becomes easy for different fields marketers to manage their survival as well as growth. They become able to manage changes related to market and customers trends (Mattila, Nandhakumar, Hallikainen Rossi 2009). As well, it also benefits companies with an advantage to create an all-inclusive culture in which everyone operates with coordination and collaboration so that business can be handled effectively (Kongol 2010). In modern era, numbers of markets are encountered with environmental uncertainty and they are trying to improve their organizational efficiency, and eventually performance. This problem can be resolved effectively by creating and developing an enterprise-driven organization as it will assist them in implementing standardized processes and practices throughout borders and their different divisions (Kongol 2010). A consistently enforced enterprise culture assists in the standardization of business processes. As well it also helps in fulfilling all needs of management control by managing all information into one system and making it available. Enterprise-driven organisation become able in a creating an integrated organisation structure that in turn assist managers in anticipating future trends and operate accordingly. In this way, it can be said that enterprise driven organizations does not only affect travel market as it make a positive effect on almost all markets (Mattila, Nandhakumar, Hallikainen Rossi 2009). By creating and developing an enterprise culture all organisations can attain different advantages according to their own success needs and requirements. Impact of Globalisation on Organisations Globalisation is a new concept that refers to processes through which different economies and societies of the world are integrating with the help of a global network. The practice of globalisation is increasing day-by-day as it serves companies with number of advantages like global expansion, significant growth and worldwide image. The significant advantages of globalisation are encouraging present organizations to globalise their business operations that in turn are affecting their overall business activities (Wallace, Tiernan White 2006). This can be understood effectively with the help of Ryanair and air travel market affect of globalisation on it. Reliance of Air Travel Market on Globalisation: Air travel market success basically depends upon the travelling needs of customers. In present almost all countries people like to travel other countries with some or other reason that imposes challenges for air travel marketers to globalise their operations (Hartungi 2006, p.730). Due to this increasing trend of travel and tourism, it has become essential for air travel marketers to globalise and this in turn also renders with several advantages related to high growth and worldwide success. This altering travel trend of people demonstrates that travel market substantially relies on globalisation. If, a travel company is not able to operate at international level it would not be able to tap international market opportunities. Travel industry connects two places that may be from a single nation or country or from different countries (Marquardt 2007). For success in travel market, it is essential to globalise and serve customers with different national as well as international routes. Significance of globalisation can also be understood by evaluating its affect on Ryanair and its business operations (Townsend, Yeniyurt Talay 2009, p. 540). In starting, the company used to operate at two routes, but subsequently, it focussed on increasing its routes to different European countries. With globalisation and the EU air transport deregulation, the company opened up new routes to Continental Europe and carried more than 3 million passengers to 18 different routes. As well, with the effect of globalisation, the company also tried to focus on global expansion and it also initiated services to Stockholm, Oslo, Paris and Brussels. In present, Ryanair operates on more than 1000 routes throughout Europe. As well, in the year 2008, the company also entered US market with an aim of global expansion. These different expansions done by the company and been planned evidences importance of global expansion for the company and its management. Importance of Global Markets in other Industries: In addition to travel industry, globalisation is also important for other industries like electronic equipments, pharmaceutical, agriculture, food beverage, oil and petroleum etc. In present almost all industries wants to operate with the help of global markets so that they can attain more profits and growth (Hartungi 2006, p.729). With increasing globalisation and free market economies different economies of the world are trying to integrate their industries so that they can take advantage of each others skills and practices (Ricks 2006). As well, it has also become a trend for companies to operate in global markets as with this they can attain a global recognition that in turn can be used to attract potential customers. In present customers prefer global brands rather than traditional brands as their lifestyles and way of living has changed and improved also (Cheng Mittelhammer 2008, p. 860). Consumers, whether they belong to low, medium or high income group prefers global brands as it gives them a sense of high living standard. This change in consumers taste and preferences encourages companies to operate at international level and serve different global markets (Townsend, Yeniyurt Talay 2009, p. 540). Almost all industries customers have similar trends towards global market. Food and beverage marketers are also affected by this and due to this different global food and beverage items are available in each country (Hartungi 2006, p.730). This is also the case with oil and petroleum industry as all countries does not have similar resources. Some of the countries have effective resources and this in turn is encouraging them to serve the need of different global markets and attain huge profit and growth (Puig, Marques Ghauri 2009, p. 693). In this environment of increased globalisation there are also some industries for whom it is critical to globalise as otherwise they would not be able to maintain their position and survival in the long run (Marquardt 2007). In this concern, one of the substantial industries is manufacturing industry. Manufacturing industry is an industry in which manufacturing is done and products are developed that almost all of us use in our daily life. If this industry has to survive it has to improve its production and operations strategies that cannot be done with traditional modes of manufacturing (Puig, Marques Ghauri 2009, p. 694). By globalizing this industry can take advantages of different means and advanced technologies. Previously, in India or other developing countries, manufacturing was done with the help of traditional methods but now as it has entered different global markets; it has also become able in making use of advanced manufacturing methods. In this way, it can be said that globalisation is critical for almost all industries to maintain their survival in the long-run. Conclusion and Recommendations With the help of above discussion, it can be said that free market conditions serve organizations with different advantages as well as limitations. Ryanair also attained different advantages with free market conditions like expansion to different European countries and continents and as well as limitation like increased competition, high threat of new entrants (Ryanairs Competitive Advantage 2009). All these threats can be handled effectively, if appropriate strategies like enterprise driven organisation is created and developed. By developing an enterprise-culture a firm can easily resolve its different operations and change management related issues as done by Ryanair (Graham Nafukho 2007, p. 129). In addition to an enterprise-driven organization, a firm can also attain advantages with the help of globalisation and entering different global markets. In present, it has become critical to attain success and long-term survival that can only be done with the help of globalisation (Cheng Mittelhammer 2008, p. 860). Ryanair has also attained several advantages by entering different global markets and due to this only; the company has become able in maintaining its leading position in industry and air travel market (Hartungi 2006, p.730). With the considerations of free market conditions, enterprise-driven organisation and globalisation a firm can easily attain assured success as attained by Ryanair.

The Neandertals :: essays research papers

The Neandertals Staring into the gloom, I imagine the cave's ancient inhabitants, wrapped in bear skins, huddled near a fire. The haunches of a reindeer roast in the fire. A mother nurses her infant. Children playfully throw pieces of bone into the flames. An old woman tends the wounds of a hunter with an herbal ointment. The strong smells of smoke, unwashed bodies, and rotting carcasses thicken the air.   Ã‚  Ã‚  Ã‚  Ã‚  Until recently, nobody would have assumed that the above passage (Rick Gore, pp.6) was about how the Neandertals lived. However, recent studies have shown that Neandertals are smarter than we first thought.   Ã‚  Ã‚  Ã‚  Ã‚  The geography of the Neandertals domain was quite odd. 230,000 years ago Europe was filled with caves, marshes, and grasslands. It was a very harsh and cold wilderness. The Neandertals were in existence right in the middle of the Ice Age, and although occasional warm periods would create subtropical conditions as far north as England for thousands of years, the glaciers would always return and the Neandertals would always be forced south again. The Neandertals could be found as far north as England and as far south as Spain, from Gibralter to Uzbekistan.   Ã‚  Ã‚  Ã‚  Ã‚  Neandertal bones have been found in the Neander Valley and Dusseldorf Germany, in Altamura, Italy and Vindija, Croatia. These are major sites for the European caves the Neandertals lived in. Although the Neandertals went to the southern tip of Italy, they never crossed the Mediterranean Sea to Africa. They migrated from central Europe to central Asia to the Middle East and always came back. Their main mode of moving around was on their feet, and they usually travelled in bands of no more than 30 people.   Ã‚  Ã‚  Ã‚  Ã‚  The Neandertals had broad noses, and scientists think this was to warm the cold air. They also had thick browridges, receding chins, high foreheads, and their skulls sloped back over their brains. They learned to hunt in groups in order to kill the bigger game. The Neandertals lived with modern humans for 10,000 years, but they didn't change, and eventually it is believed the modern humans conquered them with their more advanced technology.   Ã‚  Ã‚  Ã‚  Ã‚  Although not much is known about the Neandertal's culture, anthropologists have some ideas of how they lived their life.   Ã‚  Ã‚  Ã‚  Ã‚  It is believed by many that the Neandertals practiced cannibalism for a death ritual. There is evidence of this on the skulls and big bones of Neandertals. There are cut marks and some bones have been broken open and are without marrow. Why would they do this? Maybe they liked the way their neighbors tasted, or maybe it was a ritual for a religion of theirs.

Exile in the Odyssey Essay

In antiquity, the civilized world was settled around the Mediterranean Basin – the foundations of Western society can be traced to Hellenic Greece, which bordered the Aegean Sea. For the Greeks, the sea was the realm of the gods. In The Odyssey by Homer, Odysseus and he crew face many trials and tribulations that isolate and ameliorate them to teach the reader that the consequences of temptation must be conquered with absolute perseverance. When Odysseus and his crew arrive on the island of the Lotus-eaters, every man eats the Lotus fruit and is tempted to remain exiled on the isle in a deep sleep forever; it is only that after Odysseus removes his crew that they are able to continue on their journey. By being on an uncharted region of the earth, Odysseus felt that he and his crew were very alienated. If Odysseus had not expelled his crew, this apathetic temptation, which was induced by the fruit, would have bound his sailors to remain exiled on this lethargic island. This exile alienates the sailors because it convinces them that this island, not Ithaca, is where they truly belong. Because the voyage was brought upon our Ithacan by divine beings, the will of Odysseus must be as headstrong as the gods’ and he must observe circumstances with immortal clarity. By realizing the temptation to remain idle, Odysseus was able to save his crew so that they could make it back to Mycenae. By working hard to prove to his seamen that it is necessary to depart from the island of the lotophagi, Odysseus exemplifies perseverance of the greatest degree as a way to conquer temptation. Upon leaving the detestable island of Lotus, Odysseus himself uses his wit and determination to accept and surpass his temptation of listening to the fatal song of the sirens while proceeding to live. As the ten-year-long exile continues, Odysseus passes by the island of the beautiful female race that is called â€Å"the sirens† by humans. The song of the sirens is said to lure sailors to sail their ships directly into the rocky coast of their island. Unfortunately, being exiled causes Odysseus to strive for adrenaline rushes, thus causing him to submit to his temptation of hearing hese beautiful beings. Odysseus’s indefatigability is illustrated by his persuading of his crew to tie him to the mast of the ship and by forcing them to plug their ears with beeswax as a way to muffle to the song. While Odysseus allows himself to be taken by his temptation, all consequences of his actions are completely derailed. While still at exile at sea, Odysseus’s abilities are enriched by his cunning in this unique situation. At last, Odysseus tenacity is shown in contrast to that of his crew when his sailors are enticed by the glorious cattle of Hyperion, the titan of the sun. While on Circe’s isle, she informs Odysseus that the cattle belong to the gods and he, in turn, commands his posse to refrain from touching the sheep. Unfortunately, they disobey and Hyperion appeals to Zeus, who destroys the entire ship, sparing only Odysseus. By juxtaposing the fates of Odysseus and his men, the reader can see that temptation correlates directly to fate. This form of exile does two different things, one to each grouping that was outlined above, Odysseus or the crew. While considering that the crew was mercilessly murdered, it is evident that they are alienated from life. Odysseus, on the other hand, is enriched by this experience because it solidifies his belief that pertinacity is the only way to combat tantalization. Throughout the adventures and misadventures of Odysseus, the reader is taught that exile can both enrich and alienate he who is alienated. All the while, exile can act as solid evidence that the consequences of temptation can only be obliterated with iron-willed perseverance.

The Ara Pacis Essay Example

The Ara Pacis Essay Example The Ara Pacis Essay The Ara Pacis Essay What is the unique vision or intent of the artist or patron in the Ara Pacis? As you write the paper, you must make the connection between subject matter, style and function by discussing how these concepts are represented according to cultural preference and values. After a century of warfare that led to the downfall of the Roman Republic, Augustus, who had ruled as emperor since 27 BCE, deemed circa 15 BCE a time of peace, frequently called the Pax Augusta. In recognition of this achievement, the Roman Senate voted in 13 BCE to sponsor the construction of an altar dedicated to peace and to the emperor who had made the end of wars possible. The result, completed about four years later, was the Ara Pacis Augustae. This â€Å"Altar of Augustan Peace† is the most intimate imperial monument. It serves as the perfect example of the elegant and gracious style of art cultivated during Augustus’ rule. The altar was also meant to be a vision of the Roman civil religion. Augustus worked tirelessly to revive traditional religious observances. He restored more than eighty of the city’s temples, encouraged marital fidelity, and convinced the citizens to raise larger families. The sculptural decorations of the Ara Pacis display a scrolling pattern of branches and leaves, swarming with animal life, a lush world of flourishing plants and lively animals including birds, toads, lizards, and an occasional snake. It forms the foundation both visually and symbolically for the human figures and scenes in the upper band. The scrolls refer to the fertility of the earth durnig this presumed golden age brought about by Augustus. In the Tellus panel from the Ara Pacis, a seated matron is seen with two vivacious babies resting on her lap. It is debatable whether the woman is Tellus (mother earth), Pax (peace), Ceres (the goddess of grain), or the goddess Venus. Though her identity is uncertain, she unquestionably symbolizes the fruits of Pax Augusta. All sorts of animals living harmoniously together and the bountiful, blooming world, surround her.

Eastman Kodak Companys Strategy

Eastman Kodak Companys Strategy Executive Summary The purpose of this management report is to analyze the strategy used by Kodak otherwise known as Eastman Kodak Company. Kodak is the world’s leading company when it comes to imaging innovations and products. Kodak provides imaging technology as well as products and services to the image and photography industries around the world.Advertising We will write a custom report sample on Eastman Kodak Companys Strategy specifically for you for only $16.05 $11/page Learn More Some of the company’s products and service include retail printing kiosks, digital cameras, picture frames, online imaging services, image scanning equipment and photographic paper. The report will cover background information on the company by looking at the history of the company as well as the industry in which the company operates in. The various environments in which the company operates in will also be assessed in this report by conducting an environmental assessment or a PEST analysis of the political, economic, social and technological environment for the company. The report will also focus on Henry Mintzberg’s 5P’s for business strategies which include pattern, position, perspective, plan and ploy. Introduction Eastman Kodak Company is a US corporation that specializes in the production of photographic products and equipment. The company’s operations have been divided into four segments which include digital and film imaging, graphic communication, commercial imaging and health sector (Kodak Patents 2010). The major Kodak products include Colorburst, Kodamatic, Kodak DCS 100 and DCS DSLR, digital picture frames such as the Kodak smart picture frame, image sensors in digital cameras such as the Leica M8 and the KAF-10500 image sensor, document imaging and scanners as well as movie pictures and TV production (Kodak 2010). George Eastman, who was the founder of Kodak, introduced the first camera to the world in 1 888 that allowed people to capture special moments in still formats. Since then, Kodak has been the main provider of imaging, photography products and services as well as photography equipment such as cameras and picture scanners (Murat 2008). Kodak’s Strategy and Business Industry The company took aggressive steps in 2003 to re-invent itself to be a stronger and diversified company in the photo imaging industry by leveraging its operations to focus on the core businesses to ensure that its customer base had access to quality imaging and photography products/ services (Kodak.com 2004). In 2008, the company experienced a significant growth as a result of a five year restructuring program that would see its business strategy changing to improve revenue and profit margins.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More As a result of the restructuring exercise, revenues from the digital businesses grew by double digits for four consecutive quarters between 2007 and 2008. The decline in revenue for the traditional segment of the company’s business was seen to be in line with the restructuring program which was meant to shift the operations of the business from traditional to more innovative and modern digital businesses (Kodak 2010). The restructuring exercise saw the company investing $4 billion dollars in research and development activities that would see an increase in its digital businesses. The $4 billion investment was also used in acquiring several small businesses that had been successful in the digital imaging industry to improve the company’s market share as well as improve its technological innovations and services. The restructuring exercise saw Kodak developing new business strategies that included expanding the digital segment of the company in both retail and home locations. This would see the development of photo kiosks and mini photo labs as well as the development of printer docks that would ensure the easy transfer of images from digital cameras to printers without the use of a computer (Gia 2008). The photographic equipment and supplies industry has changed in recent times to be known as the imaging industry. The current imaging industry defines companies according to whether they have innovative and novel technology instead of whether they have the best equipment or supplies in the photography industry. The major association that manages the imaging and photographic industry is known as the International Imaging Industry Association (I3A). The purpose of the I3A is to enable the use of imaging activities to simplify and enrich the lives of ordinary people through the use of visual experiences (I3A 2010). The association brings together various members who have invested in the imaging and photography industry to ensure that the appropriate imaging standards have been met. The International Imaging Industry Association is viewed as the global imaging ecosystem that is meant to make the creation and production of visual images easier and simple. Companies such as Kodak, Sony and HP have the power and authority to connect and collaborate with other leaders in the imaging industry to deal with any imaging challenges that might arise (Service Architecture 2010). Internal Environmental Analysis SWOT Analysis Like any other company, Kodak has strengths, weaknesses, opportunities and threats. The table below shows a SWOT analysis of Kodak Company (Gia 2008)Advertising We will write a custom report sample on Eastman Kodak Companys Strategy specifically for you for only $16.05 $11/page Learn More Strengths Major player in the imaging and photography industry as it is the top three provider of image and photography products and services. Wide product portfolio that covers digital products and online photo galleries. The company has a strong brand name and brand affinity. Kodak has a core competency in both traditional and digital photography and imaging business. The company has the financial capability to invest in research and development activities for new digital products. Kodak has a multinational market presence in over 100 countries around the world. This has enhanced its global distribution capability. Weaknesses Kodak lacks technological leadership as it mostly focuses on competitor innovations especially in the digital industry. The company lacks detailed and clear strategies that can be used to convince stakeholders and investors to invest in Eastman Kodak. The company has weak strategic alliances and partnerships that have not been successful in the past. For example the failed alliance between Hewlett Packard (HP) and Lexmark. Kodak has weak innovation capabilities in its other business segments apart from its digital technology segment. It has a lower financial power when compared to its competitors such as Sony and HP. The company is behind technology wise when it comes to the quality of its digital printers and mini labs as well as its online photo imaging services Opportunities There is an increasing demand for digital photography products and services. There are new emerging markets and countries for Kodak’s business operations which include China, India and Russia. Kodak has the opportunity to expand its product portfolio to meet its customer’s needs. The company has expanded its digital camera and printer market to meet the increasing demand for digital technology. It has also expanded its operations to include online sales as a result of an increased demand in photo online services. Kodak has acquired smaller businesses to gain a market share in the image and photography industry. The company has expanded its operations to cover the expensive digital market for cameras and photo imaging services. Threats The increasing development of devices that incorporate digital camera features has threatened the company’s camera production segment. The shifting tastes and preferences of consumers in today’s constantly changing market has made it difficult for the company to keep up with these trends. The availability of substitute products from companies such as Sony, Fuji Film and HP has threatened the company’s products and services. The digital photography industry has experienced a high growth rate but the profit margins are still very low. The company faces the threat of new competitors from countries such as China and the Middle East. The weak economy and the recent global recession affected the operations and business segments of the company Kodak’s Financial Performance Kodak has been identified by financial analysts to be the second largest company after Canon that produces photographic products and services in the photographic equipment and supplies industry. The company has a market capitalization of $8.1 billio n when compared to that of Canon which has been estimated to be $58.4 billion (Seed 2006).The financial performance of the company as at 2008 saw the company’s net sales decreasing by 9%. This decrease was mostly attributed to the global economic recession whose effects were being felt as early as 2007. The fourth quarter of the company’s financial year of 2008 saw its revenues decreasing by 24 percent which was lower than that of the previous year. The impact of this downturn in its revenues was severe to the company’s financial performance as it usually experienced high sales returns during the last four months of its financial year. The revenue downturn was mostly caused by the declining sales in Kodak’s Film Capture and traditional photofinishing products. This decline in sales was however offset by the company’s increasing sales volume in document imaging and consumer digital imaging products such as digital capture devices and consumer inkjet systems which experienced an increased growth in 2008. The gross profit of the company declined in 2008 due to the decline in its sales volumes as well as the unfavourable price mix in its business segments. The tables below show the net sales, profit margins and income tax benefits of the company for the year ended December 2008 (Kodak Financials 2010). Income Tax Benefit (dollars in millions) For the Year Ended December 31, Loss from continuing operations before income taxes Benefit for income taxes Effective tax rate 2008 ($874) ($147) 16.8% 2007 ($256) ($51) 19.9% For the Year Ended December 31 Change Vs. 2007 2008 Amount ($) Change vs.2007 Volume Price/mix Foreign Exchange Manufacturing and other costs Total net sales 3,088 4.9% 8.6% 14.6% 1.1% n/a Gross profit margin 19.2% -6.3 pp n/a -13.4pp 0.7pp 6.4pp (Source: Kodak Financial 2010) GAP Analysis: Kodak’s Resources and Capabilities The company’s has a variety of resources and capabilities t hat have given its products and services a competitive advantage over its competitors. The table and graph below show the various resources and capabilities of Kodak. Kodak’s Resources Kodak’s Capabilities Code Importance Strength Code Importance Strength Technology R1 8 8 Environmental management C1 8 4 Brand Name R2 9 8 Government Relations C2 4 6 Distribution R3 10 10 Imaging Capabilities C3 8 10 Financial resources R4 7 10 Sales and Marketing C4 8 9 Image sensing R5 10 8 Research and Development C5 10 10 KODAK’S GAP ANALYSIS Technological development C6 7 9 Colour management C7 8 8 Market share C8 10 9 New product development C9 7 4 Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More FAR Analysis When analysing the functional areas of Kodak, two main areas of interest are usually considered; product development and sales and marketing. In Kodak’s product development, the design team is usually focused on creating products that are innovative and more superior to those of the competitors in the imaging market. Digital cameras which are a major innovation for the company have seen a lot of development where designers and developers of the product focus on creating cameras that are easy to use and compatible with other products such as computers and printers (Seed 2006). Kodak has continued to add value to its products by continually investing in research and development activities that will see its innovations being superior and unique to those of its competitors. Kodak’s EasyShare camera line demonstrated the ability of the company to produce a camera that was simple and easy to use as well as of a high quality when compared to the other digital cam eras in the market. The EasyShare digital camera ensured that the company was able to achieve brand recognition and brand affinity within the imaging and photography industry. It enabled Kodak to move away from the traditional line of photography and equipment to a more modern and unique product line (Seed 2006). Under the development segment of the company is production which deals with the actual development of the product designs and innovations. Kodak pursues a high cost strategy when it comes to its product innovations which are meant to ensure that the best materials and designs have been used in the development of high quality digital cameras. The second area of the company deals with sales and marketing where the company employs the use of various marketing tools and strategies to market its products. The photo finishing kiosks are a major marketing tool for the company as they cater for photo editing of customers digital images and they also offer complementary products suc h as free memory cards for storing the digital images as well as free photo printing paper. The online photo sharing sites such as Ofoto are valuable marketing tools for the company as they allow customers to create and share their pictures with other users which increase the appeal for Kodak digital products (Seed 2006). Another segment that works in conjunction with sales and marketing is distribution. As with any other company distribution plays an important role when it comes to making the products of a company available in the market. Kodak places a lot of emphasis of on-time deliveries, inventory management and good supplier relations. The company however pursues a low-cost efficiency strategy in its distribution activities as it has placed a lot of emphasis on product research and development. The company utilises the strategy of placing value of the quality of the product rather than on its availability during its distribution activities (Seed 2006).The diagram below represe nts a FAR analysis of Kodak based on the two areas of focus which are development, sales and marketing Mintzberg’s 5Ps for  Strategy The varied definitions of strategy have made it difficult to pinpoint a specific definition that can be used to explain the concept of strategy. Because of this, Henry Mintzberg came up with the 5Ps that could be used in explicitly defining the term strategy. These 5Ps include plan, ploy, pattern, perspective and position (Frankenberger 2006: McCabe 2010: Davies and Ellison 1999). Plan defines strategy as an intended course of action or guideline that is developed by an organization or company to deal with a given situation (Gane 2007). Plan describes strategies to be actions that are formulated purposefully and consciously in advance to deal with situations that are meant to happen or about to happen (Institute for Manufacturing 2010: Morden 2004). Strategies that are defined by plans are intentionally organized to take place as they ensure that the progress of projects and activities has been predetermined and the expected outcomes have been projected (Tiwari 2009). Strategies that include the use of plans involve developing schedules that can be used in product developments and launches, company acquisitions and mergers, investment activities and financial ventures, human resource training programs and downsizing in companies (Campbell et al 2002). Kodak has developed a planned strategy known as the content strategy that is used in its overall marketing strategy. The content strategy is focused on two aspects one of which is creating content that showcases the products and services that the company uses in its business operations. The tips and projects centre has been identified as the perfect example of the content strategy as it involves the use of inspirational photo essays, imaging projects and photography tips in developing the company’s content for its new product innovations and services (Hoehn 2009). T he second aspect that is considered under the two pronged content strategy is the aspect of distribution which focuses on distributing the created content through the various channels of the company. The company has developed the Kodak distribution channel information portal to distribute the created content (Yunhao 2005). The distribution channels used by Kodak include blogs, social networking sites, company websites and partnership sites The Company also has a distributed publishing model that involves various bloggers and the company’s employees posting their comments about the company’s new products and innovations in the publishing model. Mintzberg and Ghoshal (2003) describe a ploy as a manoeuvre that is used to outwit a competitor, a rival or an opponent in a certain activity or industry. Ploy as a strategy is used as a short term goal for companies because a ploy usually tends to have limited objectives and goals. Ploys are also subject to change within short n otice given their short term nature and also given the varying reasons for using the ploy in the first place (Kew and Stredwick 2005). Ploy’s usually operate within the context of competition and competitive rivals within a specific industry where a company tries to eliminate its competition through the use of ploys such as a reduction in commodity prices and introduction of new products into the market (Chappelet and Bayle 2005: Gronfeldt and Strother 2006). Kodak has used various ploys within the imaging and photography industry to try and gain a competitive edge over its rivals in the same industry as well as increase its market share. Such ploys include the activation of numerous fronts during major sporting competitions such as the Olympic Games and the World Cup, the use of blogs and social networking sites to market its activities, the promotion of the Kodak brand during the season finale of the Celebrity Apprentice show and the showcasing of the company’s prese nce in golf through the incorporation of the Kodak Challenge which is a fantasy game (Hoehn 2009). Mintzberg et al (2005) describe pattern as behaviour of strategy that describes the level of progress that has been made after a particular course of action or form of behaviour has been adopted by an individual or a particular company. Strategies that are patterns have been viewed to just occur as a result of consistent and inconsistent behaviour (Bilton and Cummings 2010). Pattern defines strategy as a stream of planned actions and behaviour that is consistent and intended. Strategy as a pattern is different from that of strategy as a plan because patterns are viewed to be strategies that have been achieved or realised while plans are strategies that have been identified and intended for action (Evans et al 2003: Wagner 2006). Patterned strategies are therefore those actions that have been developed without any intention or deliberation (Bilton 2007: Ehrnreich 2004: Tate 2009). Patte rn strategies are mostly common in small businesses such as scrap dealerships and scrap metal collection agencies. Such businesses operate on the premise of buying as much scrap metal and materials as they can meaning that they do not need any type of strategy or plan to purchase scrap metal (Simons 2005). These businesses however cannot buy old and used plastics because these purchases will be outside their pattern of business behaviour. Such patterns are therefore deemed to be unconscious strategies because businesses do not realise that they are following any consistent pattern (Smith et al 1999). The definition of strategy as a position is described as locating an organization in a particular environment. Strategy through the use of position describes the mediating forces that are used to match the functions of the organization within the industry or environment that it operates in (Marx 2004: Dinsmore and Brewin 2010). Mintzberg views a position strategy to be appropriate when the most important aspect to an organization is how it relates to its competitors, investors, stakeholders and employees. An organization that incorporates the use of position strategy usually seeks to defend a particular position within a certain market segment and industry (Capon 2008: Morris and Pinto 2007). Kodak has developed its position in the photography and imaging industry by being the first company to develop photographic equipment that incorporates the use of sensory technology (Northeast 2007). It has also established its position in the imaging industry by focusing its products and services on specific industries and companies. Kodak has developed products for educational institutions such as Kodak scanners and integrated imaging equipment that are used during course training and practical applications. The company has also developed services for financial institutions that incorporate the use of digitized microfilms used to create, store and protect financial data tha t is irreplaceable in nature. Kodak has also developed products for health institutions and public hospitals that are mostly used in maintaining patient medical records and also for taking body X-rays (Kodak Graphics 2010). The definition of perspective strategy is that it is a chosen position and a perceived notion that the company has of the general world. Mintzberg (2007) describes perspective as a view that an organization has of its internal and external environment. Perspective strategy is important as it enables a company to formulate objectives and goals that can be used to achieve business operations through the optimal use of company resources (Magalhes 2004: Carsrud et al 2007). Perspective determines the patterns of behavior of the company as it outlines the intentions of the employees and the company as a whole. Perspective strategy involves the incorporation of employee’s ideas and intentions into strategic plans to achieve business goals and objectives (Lechner 2005: Clausen 2003: Buytendijk 2010). Kodak practices strategies that are perspective in nature. It has developed distribution channels for its products and services that incorporate the ideas of its workers and employees. These channels include the social networking sites as well as company blogs where employees are able to post their comments about particular products and services that the company wishes to introduce to the imaging market. These opinions and comments are usually published by the company in its distributed publishing channel after which these channels are used in the creation of content analysis for the company’s products (Phillips 2004). PEST Analysis PEST analysis which is also known as environmental analysis is the assessment that a company performs on its external environment. A PEST analysis involves looking at the political, economic, social and technological environment in which a business operates in (Qin 2009: Tovstiga 2010). Despite the fact that many organizations view environmental analysis as an important activity, such an analysis ends up making a minimal contribution to the overall operations of the business. This is mostly based on the fact that many organizations view the environments in which they operate in to be volatile and uncertain. This limits their ability to control the impact of the environment on the company’s operations (Bensoussan and Fleisher 2008). These environments also have indirect effects on the operations of a company which leads to minimal outcomes of environmental analysis (Smith and Raspin 2008). Despite all of these aspects conducting a PEST analysis is an important activity for many companies as it ensures that the company has knowledge of its external environment (Gregory 2000). A PEST analysis usually allows a company to conduct a SWOT analysis more easily because it assesses the external environment of a business. It is therefore important for a business to conduct a PEST analysis b efore it performs a SWOT analysis (Applegate and Johnsen 2007: Grant 2005). Political Environment As the imaging industry continues to undergo new technological innovations and services, the company has been faced with the problem of patent infringement and patent law suits. This has been because the various imaging technology and equipment developed in the industry is similar for all companies which makes it difficult to establish the company that had the original patent (Mendes 2010). Patent infringements are common in the imaging industry because of the similarity of products and services that are produced by each company. As a result of this Kodak was involved in a patent infringement with Sony because of the similarity of cameras and photographic equipment that were produced by both companies (Digital Photography 2004: Gustavson 2009). Kodak launched a patent law suit against Sony for breaching 10 of its patent rights when it came to its digital cameras. The company alleged tha t Sony used technology invented by Eastman Kodak in developing its digital cameras that incorporated the use of image compression and digital storage hardware (BBC 2004). Privacy is another political environment that has impacted on Kodak’s business operations. This has mostly been attributed to the fact that digital technology in the US has become smaller and more compatible with equipment that is used on a regular basis. Digital imaging equipment has been incorporated into equipment and technology that is commonly used by ordinary US citizens. Such equipment includes mobile phones that now have camera features as well as photo editing and image viewer technology. These devices are easily available in the technology market and they have been used for activities that invade the privacy of other people (Seed 2006). Economic Environment The economic environment of Kodak has shown that the company’s products are used by both individual and industrial consumers. Individual consumers have recorded a high purchase of pocket digital cameras developed by the company for their own personal use while the health sector has been identified as a major buyer of Kodak’s imaging and scanning equipment. As much as many people own pocket cameras and photographic equipment, the high inflation and interest rates as well as the recent global recession have made most high end Kodak products to be considered a luxury item for most customers (Khosrowpour 2007). The increasing inflation rates which were as a result of the 2009 economic meltdown saw a decrease in the disposable income which forced many people in the United States and the rest of the world cutting down on their spending. This meant that people only spent on what they could afford and what they considered to be important. This saw a curb in luxury spending which in turn affected digital camera sales in Kodak (OECD 2009). Such high inflation and interest rates will also affect the spending of industri al consumers such as health institutions and government offices that are the main consumers of the company’s imaging and scanning technology (Barnwell 2006). Since companies make their capital expenditures on borrowed funds, they might have to postpone their borrowing because of the high inflation rates. This will mean that they will not have enough money to purchase any of the company’s products (Gwartney et al 2009). The company will also be faced with other economic factors such as decreasing growth in film sales. As the world embraces digital technology, film photography is projected to be obsolete in the next ten years as more people switch towards digital photography and technology. The company’s current strategy has been to invest the revenues it earns from film sales to be used in the development of digital products (Reliable Plant 2010). This strategy will however be difficult to achieve given the current slow film sales that are being experienced in th e digital market. These sales have also been affected by its competitors who have developed far more superior products than the company (Barney and Hestelry 2006). Technological environment The imaging and photography industry is one that experiences fast technological innovations and developments meaning that the company’s technological environment is one that is subject to a lot of changes (Kurtz et al 2010). Such a high degree of technological innovations has mostly been driven by a need to have imaging devices that incorporate the all-in-one features (Worthington and Britton 2006). Consumers in this environment have shown that they prefer equipment that incorporates all features into one device. Consumers now prefer to have mobile phones that have camera and photo imaging features incorporated into them (Schweibenz and Cabral 2010). Many mobile phone makers around the world are developing products that have more advanced camera works into their mobile phones. For example Nokia’s smart phones have digital camera features that allow the users to take digital images as well as create, edit and view these images (Turner 2010). Such technological innovations have therefore had an impact on Kodak’s operations given the high demand for all-in-one devices that mostly incorporate digital camera features (Fullen and Podmoroff 2006). The growth of integration and portability in the imaging market has increased the need to constantly replace technology with newer innovations. Kodak has been faced with the technological challenge of constantly updating its products to ensure that they remain relevant within the imaging industry. While a 1.3 Mp camera might have experienced high sales five years ago, the same cannot be said for the camera now as higher mega pixel cameras are being introduced into the market (Kodak Store 2010). Kodak’s processing kiosks have also experienced slow growth and film sales as a result of the digital printing of ima ges where consumers load their images onto memory cards or mass storage devices for printing. The availability of color and image printers has made it easier for people to print their images at their convenience at cost. This has led to a marked decrease in the number of people that visit the company’s image processing kiosks to have their pictures printed. The technological environment has therefore affected the growth of the company given the high rate of technological innovations in the market that make it easy to create, store and produce a digital image (Kodak Kiosk 2010) Social Environment The social environment has impacted on the business operations of Kodak through the proliferation and increasing use of social networking sites. The world has experienced an increasing growth of Internet communities and networking sites where millions of people join to discuss and share their opinions about certain issues that might be affecting them (Quick MBA 2010). These sites have affected the operations of Kodak because they incorporate features that allow users to edit and upload their photos to these sites. These sites also have photo sharing capabilities that allow users to share their images with other users. Such features limit the need for Kodak photo sharing and photo editing products (Zastrow and Ashman 2010: Thomases 2010). The social environment has also affected the operations of the company because of the cultural diversity and beliefs that various countries hold around the world (Zastrow and Ashman 2010). While many countries have embraced technology such as digital cameras, others view these devices to be an invasion of their privacy especially in countries that limit the photographing of national symbols and statues. This impedes the sale of the company’s products to these countries because of their view of imaging technology as an invasion of personal privacy (Osborne and Brown 2005: Anderson et al 1999). Recommendation In order for K odak to become the world leader in the production of digital imagery products and services the company should intensify its strategic alliances with other companies within the industry to ensure that it increases its market share. The company could also share its brand name and logo with other companies such as Sony, Canon or Fuji film especially in its low performing product lines such as the digital scanners. The company should also consider expanding its operations in countries such as China and India as well as other eastern countries that have continued to experience rapid growth and developments especially in their technological industries. Kodak should also consider acquiring technology firms that have demonstrated an increased rate in the production of technological innovations to ensure that it has up to date digital products. Conclusion The 5P’s for strategy have shown that the company has incorporated the use of various strategies to achieve its business goals and objectives. The PEST analysis has however shown that the company faces a tough external environment that might affect its business strategies and objectives. The company therefore needs to reassess its business strategies and goals to deal with the external environmental factors that might affect its business operations to ensure that it remains relevant in the current competitive environment as well as survive the external pressures. References Applegate, E., and Johnsen, A., (2007) Cases in advertising and marketing  management. Maryland, US: Rowman and Littlefield Anderson, R.E., Carter, I.E., and Lowe, G., (1999) Human behaviour in the social  environment: a social systems approach. New York: Transaction Books BBC (2004) Kodak sues Sony in patent row. Available at: http://news.bbc.co.uk/2/hi/business/3547689.stm Barney, J. 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Project report about the proposed design of an environmentally Term Paper

Project report about the proposed design of an environmentally friendly HYBRID car that works by Fuel and Battery nd nicknamed ( - Term Paper Example Properties of option 1 and 2†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.17 Figures: Figure 1: BMW Turbo Charged Engine†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦9 Figure 2: Naturally Aspirated Engine†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦10 Figure 3: Hybrid Car Engine†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.11 Figure 4: Hi-Eco Car Engine Storage System†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦.12 Figure 5: Power Control Unit†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦13 Figure 6: Inductor Motor†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢ € ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...14 ... These include long range, high power output and minimized battery charging hours. It also uses solar panel to charge the lithium-ion batteries. Its power efficiency is about 90%, meaning most of its energy will perform useful work of rotating the motor. The design follows six steps approach which begins from problem definition to selection of the best solution. The engine contains three main component; power control unit, energy storage system and inductor motor. This engine has a better score; 493 points against 385 points for hybrid engine which is also considered eco-friendly. These score provided the basis for selection of Hi-Eco car engine as the best solution. 5 INTODUCTION Automobiles consumes huge amount of global energy resources. Most of this energy is non renewable meaning they cannot be replaced through natural or any artificial process. Consequently, the over reliance on hydrocarbon as the main source of fuel for automobiles is unsustainable. This situation is worsened b y the prediction that hydrocarbon reserves will diminish in about 100 years to come. However, sustainability is just but one of big issues the world is grappling with about is fuel as the main source of energy in transportation sector. The cost of petroleum products is still beyond the rich of many people in the world. Countries spend billions of dollars exporting importing fuel at the expense of other social program. This situation is not changing any soon because the global consumption of fuel products is on a steep rise. Apart from cost and sustainability issues, pollution remains one of the greatest problems associated with fuel energy. Pollution is directly linked to green house effect which is responsible for climate change. Fuel powered

Should We Raise or Lower Minimum wage Essay Example | Topics and Well Written Essays - 1250 words

Should We Raise or Lower Minimum wage - Essay Example Almost two-thirds of minimum wage workers do not proceed beyond high school education. Thus, they prefer working under the minimum wage plan because they lack the productivity which can command higher pay from their employers (Autor 11). The debate of increasing the minimum wage is not new; it has been on the limelight for quite some time. The first minimum wage rule was 25 cents an hour that was set in 1938. The latest increment was done in 2009 where it was raised to $7.25 an hour in July 2009. When we increase the minimum wages for less skilled worker, it means that we have started appreciating them, and it would be part of rewarding and respecting the dignity they deserve. It would have a big role in improving their living standards, as well as that of their families.By increasing the minimum wage, we begin to restore the dignity of work and taking care the wellbeing of these people who are in (Autor 62). David Neumark an economist researched on the issue and came up with the conclusion that when increasing the minimum wage it reduced employment for the lowest skilled workers. However, he noted that this improved for long term, resulting to job growth (Mishel 28). With the increase of standards of living among the American citizens, somebody would argue that raising the minimum wages is of significance towards the improvement and recovery of the economy. Those in favour of raising the minimum wages have an approach that this can lead to lower turnover of employees in the organization and the employees become more loyal. The federal government of USA minimum wage is currently $7.25 an hour, and the there has been mounting pressure for the congress to increase the minimum wage up to $10.10 an hour. Those in favour of raising the minimum wages argue that wage increment would lead to a larger stimulus effect, with the demand of goods and services increasing as a result of higher purchasing power of the working class. Consequently, it is this industry that