Millennials in higher education Research Paper Example | Topics and Well Written Essays - 1500 words

Millennials in higher education - Research Paper Example 1). Millennial students possess different personalities in comparison to generation X students, as found on the parameters of standard personality test. Testing them on 16 factors millennial students have distinct traits on 10 factors. They are comparatively welcoming, follow logic behind things, are emotionally ripe, responsible, socially advanced and risk taking, are concerned, indulge more in self-inspection, ready to transform, and more coordinated and self governing but less lonely and dependent on others (Sweeney, â€Å"Millennial Behaviors and Higher Education,† par. 2). Millennial students prefer to learn by experience. They don’t follow the given guidance, in stead they prefer to learn by speaking with others. They get their learning experiences from their surrounding environment, by playing such games where there are a number of players, through computer simulations, and social networking, which are a few of their preferable surroundings. They go on making mis takes and improving them without suffering any penalty in the environment stated above. Class lectures on an average bore them. Experiential learning provides them the opportunity to interact with a good number of people who provide them crucial inputs on what should be done and what not should be done (Sweeney, â€Å"Millennial Behaviors and Higher Education,† par. 6). ... Same is their reaction on shopping; they would change the brand for another equally reputed brand for the reason that the second brand is supporting a social cause. They are the major reason of getting competitive advantage to companies by serving the interests of millennial students. They are the residents of â€Å"The Long Tail† phenomena. Traditional marketing media don’t impress them. On the contrary they are easily moved by their social network, i.e. viral marketing (Sweeney, â€Å"Millennial Behaviors and Higher Education,† par. 3). Millennial students have low tolerance level. They prefer quick feedback on their progress. This intolerance has become a way of their lives whether they are in a queue or in an uncreative process. They want things done speedier and effectively better. This has become a way of life with them (Sweeney, â€Å"Millennial Behaviors and Higher Education,† par. 5). Although millennial students are not averse to the face-to-face learning environment wherein teachers help them in resolving all of their problems but they prefer learning through fast, easy to use, comfortable and powerful digital tools. Again, they want choices as in the study environment; they want both choices of learning, face-to-face as well online medium so that later on they may select any one of the given choices. For gaining growth in career they prefer merit system to others such as seniority (Sweeney, â€Å"Millennial Behaviors and Higher Education,† par. 7). Another trait of millennial students is their love for gaming that helps them increasing their emotional stimuli, which helps them in learning also. In gaming continuous

Business Environment Essay Example for Free

Business Environment Essay Executive Summary This report provides an overall analysis on the types of organizations and their functions, performance of Superdry limited, market economies, international trade and how UK businesses are effected by the emerging market like BRIC countries. This report comprises 3 major tasks which includes explanation of the types of organizations and their nature. Organizations are mainly divided into 2 categories they are public organizations run under government e.g. public limited companies (plc) and private organizations operated by the private individual’s e. g. sole trader. People who are interested in the operations of the organizations are known as stakeholders e.g. shareholders, employees, customers, competitors etc. It a responsibility of the organization to fulfill their needs and interest if  they want to run the business in its most effective manner. In addition, it is important for large companies like Superdry ltd to have mission vision aims and objective of the business to know why they are existing in the market. A clear understanding of the company and its market provides better knowledge which can be used to operate the business in full potential. The report also highlights on the different type of economic system present in the current economy. Economic system is concerned with how the economy is going to use the scarce resources to gain maximum satisfaction. They are market, command and mixed economic system. For the countries to gain fast economic growth the government implies economical tools like fiscal and monetary policies to achieve macro-economic objective s like sustainable economic growth, price stability, trade surplus, equal distribution of income etc. Furthermore, report also contains about the benefits and drawbacks of the international trade by taking Superdry as an example. International trade is a good way for business to make high profits by selling their goods at wider market. But this depends on whether the people will buy good as the culture and taste of people may differ. Especially in emerging markets, as they have unstable economic environment which can hinder the flow of functions on firm. The reports also summarizes condition about the debt crises of EU and how it is effecting the UK businesses. As EU plays are big role in UK exports and the economy. Introduction Business environment is the study of how the business is effected by the  Economical, Political, Social, Technology by the operation of the business. It is important for business to have a clear understanding of its internal and external environment to take effective decision making and operation. Superdry is a clothing company operating in the UK and international fashion market. The company is well known for its quality and price of the brand. They have been continuously growing ever since they have entered the market. Their aim is to grow in UK and online market and always tried to outperform the competition. There are 2 types of organization in the market i.e. private and public organizations. These organization have unique goals for each. Superdry will have shareholder who must be satisfied at all cost if the company want to run on profit. The report has mentioned about the different type of economic system with characteristics and policies which government can use to balance the economies. Moreover, about the importance of trade internationally, especially in emerging market like BRIC countries. It advisable to conduct research on the market before a firm enter due to different market conditions. Task one 1.Organizations Organization is a group of people collaborating together for achieving particular goal or task (Kokemuller, N. 2014). In a business, organizations are divided in 2 main groups they are public sector organization and private sector organization. Public sector organizations are owned and controlled by government. They are usually nonprofit making organization created to serve the public. While private sector organizations are profit maximizing firms operated under private individuals. Types of organization: i.Sole trader A sole trader is a business owned and controlled under a single ownership. This is the most common form of any start up business. Here the owners will enjoy all the profits and loss generated by the company. The business is relatively easy to set up as few capital is needed to operate the business. Decisions are taken much faster with no influence of outside persons but  only by the owner of the business. The business can keep a good customer relationship as owners can personally keep interaction with customers thus allowing the business adapt to market changes faster. However, sole proprietorship business cannot generate a high profit as much as big companies does. The owners will have unlimited liability, this means the owner is liable for all the debts of the business, even to the extent of selling his own personal positions as there is no separate legal entity, the owner and business are considered to be one. Lack of creativity and innovation will exist as single owner is making the all the decisions and there is no guarantee that all decisions taken by him will result in profitable for the business. Less members in the business also reduces the amount of capital invested furthermore, this also results in more workload for the owner as he/she only have to deal with business activities. Life span of the business will end with the death of the owner. (The times 100. 1995-2014) ii.Partnership A group of people interact together for achieve particular objective or a goal is known as partnership. In here all the profit and loss made by the business is shared among the partners according to the law of agreement made between them. The agreement should be either verbal or written. Some of the things which includes in agreement are the profit and loss sharing ratio, capital invested, roles and responsibilities of partners, partners private information’s. The business must have at least have 2 members and can add up new members up to 20. Decisions are taken after the consulting with the partners therefore, this will slow the decision making process due to conflicts between them. Resulting slow adaptation to market changes. But in partnership they can invest more capital to the business helping to achieve more growth in future. Partnership allow partners to share skills and workload between them thus making them complete work faster. Partners can bring in new ideas into bu siness allowing it to be more innovative and creative. In partnership there will be at least one partner having unlimited liability and one who is having limited liability. (The times 100. 1995-2014) iii.Public limited company (plc) A plc is a large scale operating company issuing shares to the public and is controlled under the shareholders of the business. Before the business becomes a plc it must be registered under the Memorandum of Association specifying the business is public. This type of business is very expensive to set up and many formalities have to be filled before it can gain the license of plc. The shares issued by the company must be at least 50000 pound. Shareholders can enjoy limited liability as it have spate legal entity form its owners. Moreover, as plc is large scale operating company this gives more assurance for the banks and other institutes, that they will pay the loan amount making it easier for the company to borrow loan in big mount and can use that for future expansion of the business. There are some drawback of plc, it is difficult to operate due to more number of shareholders. The company cannot respond to changes in the industry as any decision made by the business is after consulting with shareholders which can slow down business operations. The biggest drawback is that the original owner of the business will lose absolute control over the activities business and the overall profit of the business must be shared among the shareholders which can result in low profit for the original owner. Death of a shareholder cannot will not affect the business operations. (Merchant, P. 2014) 2.Responsibilities of stakeholders in Superdry Stakeholders are group of people having interest in the activities of the business. They can be either external stakeholders or internal stakeholders. External stakeholders are the people who are outside the business environment, e.g. government, social groups. While internal stakeholders are the people who are inside the business environment. They can be directly affected by the activity of business, e.g. shareholders, employees. (The times 100. 1995-2014) Figure 1 Types of stakeholders Customers: Customers are the most important stakeholders in the business. Without them there is no meaning of doing business. When a customer buys a product service the most common aspect they look for is the quality of the  goods/service, reasonable price and customer service. For any business waiting to run in profit, it must satisfy the needs of their customer. (The times 100. 1995-2014) Superdry have given lot of efforts on making their customer satisfied. Better customer service was one main point triggering the success of the company. This includes, fast online delivering, guarantee the quality of products, if any faults occur in the delivering process they will try to solve it as fast as they could. Customers was kept as their first priority, as happy customers will build brand loyalty which in turn create a good image of business and thus increase profit. (SuperdryGroup.plc. 2012) Suppliers: Suppliers are the people who are delivering raw materials or other production materials to the company. A company must have a good supply chain ensuring a smooth inflow of stock in business. As any delay caused by the suppliers will affect the business production. (The times 100. 1995-2014) Superdry have always tried to keep a good relationship with its supplier and takes seriously its roles and responsibilities and aim to ensure that’s their suppliers and manufacturers are following the local and international legislation and use the best practice for ethical trading. The Superdry also uses ‘hands-on-approach’ being actively engage in checking whether the raw products are delivered from responsible business partner. It’s a good practice as this will ensure that the supplier won’t deliver cheap or faulty goods knowingly or unknowingly. As a result this will help Superdry to maintain good reputation and avoid unnecessary problems. (SuperdryGroup.plc. 2012) Employees: Employees are the most important assets of any business. A well skilled and motivated workforce will help the business to maintain a good performance and increase the profit. They can affect growth of the business since their pay levels and their job security will depend on the profitability of the business. Superdry have kept a good employee loyalty by practicing ethical labour practices respecting the rights of their employees. These include independency creation of association, no forced employment, safe and healthy  working environment, no discrimination between employees regarding their gender or religion, fair wages, no physical maltreatment, reasonable working hours, no child labours and given job security as with the agreement made between employer and employees. The company also provides training to its employees to improve their knowledge and skill which in turn can increase the productivity of the business. Healthy workforce will generate more profits and help to sustain its growth in future. (SuperdryGroup.plc. 2012) 3.Superdry Superdry is a company operating in the fashion industry selling their goods internationally. Ever since the company was set up it have outperformed competitions and gained popularity and recognitions throughout UK and internationally. (SuperdryGroup.plc. 2012) The mission of the company was to grow in youth fashion industry of UK and world market by offering premium quality clothing and accessories for both men and women with an affordable price. The company have continued grow its market share throughout UK and internationally by opening new stores and through internet. Since the flotation in London stock exchange in 2010, the business is focusing its strategy on 5 important areas. This includes roll-out of standalone stores in UK and Europe, developing online offer (20% internet growth annually), expanding the international business, extending product range and developing an infrastructure that delivers profitable growth and operational efficiency. They are achieving this by building brand awareness by proving currency websites and franchise roll-outs. (SuperdryGroup.plc. 2012) The group has also had goals of providing better working environment to its employees and have given lot of care to improve their performance. Furthermore, by giving best customer service and offering quality product with reasonable price. (SuperdryGroup.plc. 2012) The group have gained 313.8 million profit in 2012 while 237.9 million in 2011. That’s a growth of 31.9% in the revenue of the company. (SuperdryGroup.plc. 2012) Task two 1.Economic systems An economic system is production and allocation of good and service inside the economy by using it scarce resources to gain maximum satisfaction in the economy. They can achieve this by answering 3 fundamental question arising inside the economy they are, what to produce? How to produce? For who to produce? There are basically 3 main types of economic system found in the economy. (Griffin, D. 2014). They are; Figure 2 Types of economic system Command/planned economic system Command economic system is where the government decide how to allocate resources inside the economy. The 3 fundamental questions in the economy are answered by the state itself. In the modern world, only very few countries like china, North Korea follow this economic system. (Griffin, D. 2014). This economic system is proven to be beneficial as it help to stabilize the development of the economy. All resources in the economy will be fully utilize, thus resulting full employment. The goal of this system is to provide the basic goods to the people and improve their overall standard of living and reducing the occurrence of disturbances in the economy. It balanced economy between rich and poor. Most of the production firms are run under government thus allowing sale of good at lower price which can be affordable to everyone. The government will be more efficient at mobilizing economies resources in a large scale and can carry out big projects much easily to increase the growth rate of the economy. In addition, this also eliminates the existence of self-interest and welfare generating population which can hinder the stability of the economy. However, this system uses strict rules and regulation to control the economy, resulting loss of freedom of individuals. Private individuals are discourage to start new businesses thus reducing competition in the market. Low competition will demoralize firms to become more innovative and creative in their production. People will not get many choices, whatever the government produce they must buy, resulting inefficient allocation of resources. Moreover as the firm is nonprofit making organization, they won’t try to reduce their cost by applying latest production methods, again resulting productive inefficiency in the economy. Mixed economic system In here both the government and the market will decide how to allocate resources in the economy. The 3 fundamental questions are answered by both government and market itself. This mean the economic system will comprise ownership of both private and public sector enterprises. Thus overcoming the draw backs of planned and market economic system. There are many countries following this system e.g. Maldives, Sri Lanka etc. (Griffin, D. 2014). The mixed economy will allow the resources to be fully utilize at its optimum level. Even though private sector play’s major role in the usage and production and provision of goods and service, the government will monitor their movement checking whether the private companies are following ethical practices in production or not. Private firms are encourage to become more innovate and creative at their work providing low price goods due to competitive market. Producers and consumers will have sovereignty of choosing between goods which are more appealing to them. However there may be chances of occurring unethical markets supplying harmful good to the economy. Government then can apply stick rules and regulations to control those unethical practices. Unequal distribution of income may occur as people who own the firms will become wealthier than people who are working under them. In here, the government plays role only by proving goods which are under provided by the private firms, usually unprofitable businesses like providing street light facilities, or building roads etc. Market economic system In market economic system free market allocates resources in the economy. The three fundamental questions are answered by the market itself. In here the role of government is limited and the resources are utilized in its maximum potential. This is most common form of economic system followed by many countries in the world including India, UK and Kenya. (Griffin, D. 2014). In this economic system most of the firms are owned by private individuals. They are is existence of high competition among firm on achieving biggest market. People are having many choices for goods and service. All the firms are trying to reduce their cost as much as they can and provide the goods which are demanded by the consumers if they want to survive in the market, which in turn increases the innovation and creativity of firms. Higher competition will cut down inefficient firms in the economy. Thus resulting  best utilization of resources. However, as firms want to reduce their cost of production they may adapt capital intensive method of production which can reduce the employment level. Relatedly affecting the standard living of people and can widen the gap between the poor and rich. Which is not a good sight for any developing economy as it may drag down its growth rate. Cut down of firms can result in waste of resources as they are now unemployed and unused. In here government plays role only when it’s necessary. Like with the provision of important sectors like military, banking sector etc., which must be run under the state. They also will create laws which must be followed by the firms if they want to operate in the market. 2.Fiscal and monetary policy Fiscal and monetary policies are tools used by government to stabilize the economic conditions of the country. This includes achieving macro-economic objectives like full/higher employment, low inflation, surplus balance of payments, sustainable economic growth and higher standard of living. (Kenny, T. 2014) Fiscal policy is by changing government spending and taxes bring maximum welfare to the economy. Whereas monetary policy influence the spending of saving of people by varying the interest rate concerning with the current situation of economy. (Kenny, T. 2014) Figure 3 Trade Cycle GDP Boom Recovery Recession Slump Time As shown in the figure 3, when the economy is in recession, they will experience high rate of unemployment, low inflation or deflation, low GDP (Gross Domestic Product), unsustainable economic growth, low income and wealth of economy and lower standard of living. As economy is in recession the government can use expansionary fiscal policy. That is increasing government spending and reducing the tax rate of economy to increase the real income of the people (Kenny, T. 2014). Reduction in income tax will  encourage people to spent more thus increasing the demand. The government can also give subsides to firms in order to overcome the high cost and use it for innovation of the product leading to higher efficiency and employment in the economy. Higher demand motivates producers to produce and supply more goods to the economy, which in turn increasing the employment and overall GDP inside the economy. Moreover, government can use monetary policy to reduce the interest rate supporting producers to take on more loans to improve the efficiency of production and so on. Lower interest rate will suppress people to save more and spent less. It also will cause to equalize balance of payment as import will reduce while exports increase. Opposite conditions apply when the economy is in boom period. People are tend have more income thus increasing the aggregate demand. At this stage the inflation is tend to be very high, negative balance of payments will occur as imports are more than the exports. So to stop the economy form over heating government will apply the theory of contractionary fiscal policy. That is spending less and taking more money form the economy (Kenny, T. 2014). Higher tax rate will cause people to spend less on the goods and service. Thus controlling high demand and price of the economy. The government can also apply the concept of monetary policy to increase the interest rate to further tighten the level of pay. Higher interest rate will encourage people to save more and spent less, in addition this will also attracts foreign investors to invest in the economy. Nonetheless, high interest rate can cause people to import more since the value of currency is increased. Before government practice these theories they must be aware of the multipliers in the economy. Incorrect usage of the policies sometimes results in collapsed economy. 3.Effects of fiscal and monetary policies on Superdry Changes in the fiscal and monetary policies can have a massive effect on the overall performance of the Superdry, as it is related with the spending power of both consumers and producers. First of all, for an instance if the government apply expansionary fiscal policy this will help business to gain more benefit. Here, the government will increase its spending and reduce the tax rate. Which in turn can increase the spending power of people thus  leading to higher demand for the Superdry product. Lower corporation tax rate will also allow Superdry to enjoy higher net earnings and spend more on future development of the company. Nevertheless, contractionary fiscal policy will have a whole negative effect on the company. As contractionary fiscal policy will reduce the income of the economy by reducing government spending and increasing tax. Thus leading to lower demand for the company product. Additionally, profit of Superdry will be reduced due to new tax increments, effecting the fu ture development and performance of the company. Secondly, as Superdry is online and internationally operating company, changes in the monetary policy can affect its international trade. Higher interest rate can cause the currency value to appreciate causing the Superdry product to be more expensive, making it be less competitive in the world market. The demand for Superdry product will reduce if the price is high. The price of share likely to increase in the stock market due to higher interest rate. Likewise, high interest rate can make it expensive for Superdry to borrow loan form banks in huge amounts, thus causing to slow down the future development of the company. Nonetheless, low interest rate depreciate currency value which can then make Superdry products to be more price advantages due to low price. The company will be able to take on loans as interest are low. Also lower interest rate will reduce the Superdry share price. Task four 1.Effects of international trade on Superdry International trade is the exchange of capital, goods and service across borders of different nations. Super group business aims itself to establish its presence in wide range of geographical boundary’s through combination of building of stores, concessions, franchises, licenses and the internet. Spain, Greece, Hong Kong, South Korea, Swaziland are some countries which Superdry operates internationally. There are many advantages and disadvantages of international trading for Superdry. (Chand, S. 2014), (SuperdryGroup.plc. 2012) Superdry can gain many benefits by marketing its products internationally. This includes expanding their market by selling  its products to a wider range of people in different nations. If the lifecycle of the Superdry products in the current market are in saturation stage, the company can market its product into a new market before the life of the product is decline. This will help the business to sustain its growth and profit for a longer period. Ad ditionally, this allows the company to use the foreign resources and diversify its risks among the countries. For an instance, if one of Superdry branch makes loses this can be covered up by the profit made by another branch in another country. Thus gaining competitive advantage over its competitors. However there are some drawbacks which Superdry had to face in trading internationally. The most influential factor was the cultural and traditional change of people. Different countries adapt different life style due to culture, tradition, religion, climate etc. it was expensive and time consuming for Superdry to conduct research on each market. Furthermore, the company had to adjust with the law system which can be hard as laws will differ in each country. Some governments don’t support the foreign firms and use higher tax rates and strict rules to protect domestic firms and dive away the foreign firms. The Group overseas performance has achieved a significance growth in the year 2011. After the acquisition of SuperGroup with Europe BVBA (Besloten Vennootschap met Beperkte AansprakelikheidP) the SuperGroup have gain 83% of international growth due to the assistance, knowledge and experience given by them. (SuperdryGrou p.plc. 2012) 2.UK business in emerging markets Emerging markets are developing economies which are having some of the features of developed counties like fast economic growth in GDP, strong financial and physical infrastructure. According to World Bank the BRIC countries are known to be world’s fastest emerging markets. They are Brazil, Russia, India and China. UK is considered to as developed country. (Kuepper, J. 2014). According to corporate council magazine; UK has ranked itself as the work 6th largest economy and trading nation and second in exporting service. For a UK business to enter these emerging markets are tend be far risky. As the economic condition of these countries are unstable. Changes in political and legal environment can disrupt the smooth functioning of the  firm. For an instance a UK firm entering to Indian market have to deal with different traditions and culture. So to understand the market firms have to conduct market research which is both expensive and time consuming. There will be existence of some laws which can prevent UK firms to operate as their government first priority would be to protect and support the domestic producers rather than foreign investors. By applying high entry barriers and tax will discourage firms to operate in the market. High competition can also be a risky factor as Indian firm knows better about the changes in their market and how should they reach to it. Even though there are risk operating in emerging markets, there are many benefits which business can enjoy. UK is known to be more technically advanced. Therefore they can use advanced technology as their competitive advantage to produce high quality good at lower price. Which can then be used to drive off inefficient firms thus reducing competition. The firms also will be able to use the country’s resources and enjoy the low price rate to buy raw materials. Furthermore, these countries are having high rate of unemployment as the countries can’t make as many jobs equivalent to number of unemployed. Thus creating large supply of cheap labour. So there are room for government to support UK firms to operate in market to create job opportunities by gi ving more subsidies, reducing the tax rate and other trade barriers. 3.European Union effects on UK firms European economic and monetary union, commonly known as European Union (EU) is a group of European counties joining together to form a common market. There are currently 28 member countries in EU. Some the features of the EU are free transfer of goods, labour, capital and service among them, and following one currency, i.e., euro. The aims of the EU is to create efficiency, achieve higher economic growth, freedom, equity, application of rules and regulations made for protecting human right and dignity. (Amandeo, K. 2014) In the 2008 the EU have faced with a high debt crisis which had led to European Union economies to collapse. Due to the inefficient use of the fiscal and monetary policy the government have faced with a high debt which they are unable to pay. The year 2008 Greece have faced with a heavy debt. As they didn’t had proper structure for government spending and taxation.  They continuously went on spending on public and reduced it tax rate. Finally resulting a budget deficit. Furthermore, the interest rate was very low encouraging people to spent more and save less. Thus increasing the inflation and causing a negative balance of payment. In order for the government to overcome the budget and trade deficit they went on taking loan form the ECB (European Central Bank) leading to credit crunch. Low economic performance and interest rate have made lenders to think that they will not get their money asking them to demand for higher interest rate. Further worsening the situation. In 2010 including Greece, Portugal, Ireland, Italy have gone through speculative attacks making the economy to become unstable, increasing unemployment, unstable price effecting the economic and social wealth and efficiency of the economy. This have massively effected the UK economic condition as EU is the main exporter for UK firms. Unstable and low economic performance of EU have led to cut down on UK exports. Thus leading to lower production and high cost. They have reduced number of employment for overcoming the cost. Leading to lower income and wealth in economy. Spending causing the demand for UK firms to reduce. Some of the firms may go out of business as the profit made is not enough to cover up the cost of the business. Conclusion and recommendation After a close evaluation about the organization it can be said that private and public sector organizations exist in the market for varied purposes. Like how public organizations are created to offer goods and service which are under provided by the market mechanism. After analyzing the condition of Superdry ltd, I have found that Superdry have given a lot of effort to satisfy its stakeholders of the company. For example, creating a strong communication, often conducted meetings, information’s are shared openly to all she shareholders, follow rules and regulation of the community and government and taking care of employer needs and emotions. Furthermore, the company has developed its own strategies on how to achieve their mission, vision, objective and goals of the business. Without knowing these the company will not have a clear direction on how to operate. In each economy follow a unique system to use the resources in it optimum way to get fast  economic growth and welfare . There are isn’t any pure market or command economic system existing in the current market. It is best for the country to know the current condition of the market and accordingly react to it. International trade can be beneficial factor for a growing company like Superdry to expand their business and gain economies of scale. Nonetheless, company must face with the different trade barriers like competition, government law which can be a big downturn for business. Moreover counties like India and China who are still emerging the economic conditions are far too unstable. For a UK company to enter these emerging market they must clearly know the PEST (political, economical, social, technological) conditions clearly. Without a risk there cannot be any profit. Finally, the current condition of the EU are tend to be very sensitive. There is a possibility that the economy may collapse. However, there are chances that by redesigning the policy structures the country can cope up. Reference AMANDEO, K. (2014). What is European Union? [Online]. Available from: http://useconomy.about.com/od/worldeconomy/p/european_union.htm. [Accessed: 25.03.2014] AMANDEO, K. (2014). What is Eurozone debt crisis? [Online]. Available from: http://useconomy.about.com/od/Europe/p/Eurozone-Crisis.htm. [Accessed: 26.03.2014] CHAND, S. (2014). The meaning and definition of foreign trade or international trade exchange [Online]. Available from: http://www.yourarticlelibrary.com/foreign-trade/the-meaning-and-definition-of-foreign-trade-or-international-trade-explained/5972/. [Accessed: 22.03.2014] GRIFFIN, D. (2014). Economic system types [Online]. Available form: http://smallbusiness.chron.com/economic-system-types-1129.html. [Accessed: 12.03.2014] KENNY, T. (2014) The difference between fiscal policy and monetary policy [Online] Available from: http://bonds.about.com/od/Issues-in-the-News/a/The-Difference-Between-Fiscal-Policy-And-Monetary-Policy.htm. [Accessed: 15.03.2014] KOKEMULLER, N. (2014 ). What is the meaning of business organizations? [Online]. Available from: http://smallbusiness.chron.com/meaning-business-organization-41925.html. [Accessed: 08.03.2014] KUEPPER, J. (2014). What are emerging markets? [Online]. Available from: http://internationalinvest.about.com/od/gettingstarted/a/What-Are-Emerging-Ma rkets.htm. [Accessed: 23.03.2014] MERCHANT, P. (2014). Features of public limited company [Online]. Available from: http://smallbusiness.chron.com/features-public-limited-company-18143.html [Accessed: 10.03.2014] SUPERDRY GROUP. PLC. (2012). Annual report 2012 [Online]. Available from: http://www.supergroup.co.uk/investors/reports-and-publications/annual-report-2012. [Assessed: 11.03.2014] THE TIMES 100. (1995-2014). Engaging with stakeholders [Online]. Available from: http://businesscasestudies.co.uk/primark/engaging-with-stakeholders/what-is-a-stakeholder.html#axzz2xACZ7d4t. [Accessed: 09.03.2014] THE TIMES 100. (1995-2014). The types of business organizations [Online]. Available from: http://businesscasestudies.co.uk/business-theory/strategy/types-of-business-organisations.html#axzz2whhOgm5l. [Accessed: 08.03.2014]

Sources of Finance for Business: Pros and Cons

Sources of Finance for Business: Pros and Cons Sources of Finance Finance is essential for a business’s, development and expansion. Finance is the core factor for most businesses and therefore it is crucial for businesses tomanage and maintain their financial resources better. Finance is available to a business from avariety of sources both internal and external. It is also crucial for businesses to choose the most appropriate source of finance for its several needs as different sources have its own benefits and costs. Sources of finance can be classified based on a number of factors and the can be classified as Internal and External, Short-term and Long-term. Identify the sources of finance available to a business Working capital   owners finding that are invested into business from the beginning to finance  operation. Liability will be created in shape of capital. Advantages Since it is an internal source offinance there are no costs involved and no repayment is needed. Disadvantages Opportunity costs are involved. Is not suitable forlong term investments. Working capital cannot raise large amounts of funds. Total risk is undertaken by the company. Using working capital as a source offinance will affect the current ratio of the business. Bank Overdraft   occurs when money is withdrawn from the bank account and the available  balance goes below zero. There are different bank charges which are  depending on the agreement. Advantages This is a good way to cover the period between money going out of and coming into a business. If used in the short-term it is usually cheaper than a bank loan. Disadvantages Interest is repayable on the amount overdrawn Can be expensive if used over a longer period of time. Mortgage this is a loan secured on property repaid in instalments over a long time around  25 years. The business will own the property once the final payment has been  made. This is a long-term source of finance. Advantages Business has the use of the property. Payments are spread over a period of time which is good for budgeting. Once all repayments are made the business will own the asset. Disadvantages This is an expensive method compared to buying with cash. If business does not keep up with repayments the property could be repossessed. Bank loan   This is a fixed amount for a fixed short time with fixed repayment. The interest  on this loan can be expensive. Advantages Set repayments are spread over a period of time which is good for budgeting. Disadvantages Can be expensive due to interest payments. Bank may require security on the loan. Hire purchase occurs when buyer is paying for things or items in fixed instalments while  using the item. Advantages Businesses can have the use of up to date equipment immediately Payments are spread over a period of time which is good for budgeting Once all repayments are made the business will own the asset. Disadvantages This is an expensive method compared to buying with cash. Trade Credit it is a system that allows buying something now and paying letter. For many  business trade credit it is essential for business to growth. Advantages Business can sell the goods first and pay for them later Good for cash flow No interest charged if money is paid within agreed time. Disadvantages Discount given for cash payment would be lost Businesses need to carefully manage their cash flow to ensure they will have money available when the debt is due to be paid. Government Grants – this organisations offer grants to businesses, both established and  new and normally there are some conditions apply. Advantages Don’t have to be repaid. Disadvantages Certain conditions may apply Not all businesses may be eligible for a grant. Factoring   is a financial transaction that occurs whereby a business sells its accounts  receivable to a third part at a discount. Advantages A large proportion of money isreceived within a short time-frame. The sales ledger of the business can be outsourced to the factor. The money collections from debtors are undertaken by the factoring company. Helps a business tohave a smooth cash flow operation. Non-recourse factoring protects the client company from bad debts. Disadvantages The business has to pay interests and fees for the factor for its services. The cost will be areduction on the company’s profit margin. Analyse the costs of different sources of finance Working capital Tangible cost: They do not have any costs as it owner money that will be invested to start a business. Opportunity costs: Could have borrowed extra if the working capital is not enough from relatives, friend. Tax effects: This can be repay when the profit will rise. Bank Overdraft Tangible cost: Interest is a little higher than forbank loans and interest is calculated on a daily basis. This is short term and quick source of finance which is not pay on time extra and large interest charges will apply. Opportunity costs: Could have borrowed from relatives or friend to avoid extra charges or to feel into debts. Tax effects: It can be deducted when the business is increasing asset. Mortgage Tangible cost: Interest rates apply as agreed in monthly instalments over a long time usually for 25 years. Opportunity costs: Could have borrowed from family to avoid the interest fees. Tax effects: The property will be possessed by the organisation if monthly payments are not meet. Bank loan Tangible cost: Interest to be paid on the sum borrowed at agreed rate. Interest is usually fixed forshort term loans, and long-term loans usually have a variable rate of interest. Interest rates are lower than for bank overdrafts. Opportunity costs: Could have borrowed cheaply from relatives or friends. Tax effects: Interest is tax deductible from profit before we arrive at profit figure for tax purpose. Hire purchase Tangible cost: The business ends up paying more than the original value of the asset for its purchase and the interest has been paid in equal instalments. Opportunity costs: Tax effects: Interest charges can be offset against profits for taxation. Trade Credit Tangible cost: If paid on time there is no financial cost involved, however if not paid on time the interest will apply automatically. Opportunity costs: Working capital and friends. Tax effects: own possession of goods can be removed by the debt organisation or sale or rent to cover the interest cost. Government Grants Tangible cost: Government grants are free and have nofinancial costs. Opportunity costs: Could have borrowed from relatives or friend as there are no legal agreements involved. Tax effects: No financial costs are involved. Factoring Tangible cost: The business must pay interests and fees for the factor for its services the interest is calculated on a dailybasis, credit management and administrative fee are also chargedand ranges. Opportunity costs: Working Capital will be a better alternative or relatives and friends. Tax effects: The business must pay interests and fees for the factor for its services and the cost will be areduction on the company’s profit margin. Evaluate appropriate sources of finance for a business project There are several sources of finance available to a business on the market. Finances are needed for many and different purposes need sources offinance which are most suitable. When choosing a most appropriate source of finance some conditions have to be considered. The conditions that need tobe considered when choosing an appropriate source of finance are: The amount of money needed The urgency of funds The cost of source of finance The risk involved The duration of finance The gearing ratio of thebusiness The control of the business Project Hair and Beauty Business Project â€Å"Inspiration† aims are to be the first beauty salon in the local area which will deliver unique and quality service by offering high standard beauty products which will quickly gain market share. â€Å"Inspiration† will provide customers with a relaxing and comforting atmosphere which will help them to enjoy the service provided to gained high reputation. Building   Mortgage long term which will be payable for 25 years. Personnel Bank Loan short time with fixed repayment 3-5 years. Furniture and stationary etc. Working Capital owners finding that are invested into business. Brochures   Overdraft short-term it is usually cheaper than a bank loan. Advertisement   Bank Loan Set repayments, spread over a period of time, interest high. Others   Relatives or friends. These loans will be paid from the cash flow from the business and will be collateralized by the assets of the company on short-term or long-term agreements with the lenders.

What is the federal theatre project Essay -- essays research papers

What Was The Federal Theatre Project????? Throughout the late 1920's an important theatrical movement developed: The Workers' Theatre Movement. In the end, it diminished around the middle of the 1930's, and one of the developments aiding the decline of the Workers' Theatre Movement, was the creation of the Federal Theatre Project. The Federal Theatre Project was the largest and most motivated effort mounted by the Federal Government to organize and produce theater events. Once the government took on the duty of putting people to work, it was able to consider the movement. The Federal Theatre Project’s purpose was â€Å"to provide relief work for theatrical artists that utilized their talents and to make their work widely available to ordinary Americans, thus democratizing high culture.† (www.answers.com) Furthermore the FTP tried to present theatre that was relevant socially, politically, and had popular prices, such as free shows. The majority of its famous productions, although not all of them, came out of Ne w York City. New York had many units, such as, a classical unit, Negro unit, units performing vaudeville, children’s plays, puppet shows, caravan productions, and the new plays unit. The Federal Theatre Project was â€Å"the only fully government-sponsored theatre ever in the United States†. (Witham 16) During the late 1920s, in October 1929, the stock market crashed which led to the Great Depression. By winter 1930 through 1931, four million people were unemployed; by March 1931, eight million. By the year 1932, when President Franklin Delano Roosevelt was elected, the national income was half that of 1929; there were twelve million unemployed, moreover, there were one of four. Within two weeks of his inauguration, in the year 1933, FDR reopened three-fourths of the Federal Reserve Banks and tried to save the economy. Many called Franklin Delano Roosevelt's administration "the Alphabetical Administration; it was often ridiculed because it seemed to have so many different organizations designated by different groups of letters.† (Witham 48) For example, the C. C. C., the Civilian Conservation Corps, started in the year 1933 and found jobs for over 250,000 men. The Federal Emergency Relief Act, or F. E. R. A., started in the year 1933, led by Harry Hopkins put $500 million back into circulation. By the year 193... ... held on the last day of the Federal Theatre Project existence, which was June 30, 1939. Fairly because of long held doubts that the FTP was fraught with Communists and fellow travelers and the18-month-long rehearsal time, Congress shut it down. The remaining three Arts Projects, Music, Art, and Writing, survived and were financed by Congress until the year of 1941. Concluding the Federal Theatre Project, it has accomplished the goal of introducing theatre to millions who had never seen theatre before. It employed thousands of people, initiated European epic theatre and Living Newspaper theatre techniques to the United States, and for this reason could be seen as a vast achievement. Work Cited 1, Bordman, Gerald. American Theatre: Chronicle of Comedy and Drama 1930- 1989. Chicago: Oxford University Press, 1996. 2. Manning, Susan H. Modern Dance, Negro Dance: Race in Motion. Minnesota: University of Minnesota Press, 2004 3. Witham, Barry. The Federal Theatre Project: A Case Study. Nevada: The Press Syndicate of the University of Cambridge, 2003. 4. http://memory.loc.gov/ammem/fedtp/ftwpa.html 5. http://www.answers.com/topic/federal-theatre-project

Airbus A380 and Company Airbus Company

i Ministry of Higher Education Colleges of Applied Sciences (Salalah) Department of International Business Administration International Business Environment (BUSN 3401) SPRING SEMESTER 7 (2012 – 2013) BOEING COMPANY Name: Mohammed Ahmed Salim al-moqimi ID number: 2008399331 TABLE OF CONTENTS: Contents TABLE OF CONTENTS:2 INTRODCTION:4 BACKGROUND OF BOEING COMPANY:5 Mission:6 Vision:6 Objective:6 COMPETITOR ANALYSIS:7 SWOT:9 Strengths:10 Weaknesses:11 Threats Implications:11 Opportunities:12 THE STRATEGY:13The problems that the company faced are:13 The causes of problems are:13 Action planning:13 Alternative strategy:14 PEST ENVIRONMENT:14 Politics, Legislation:15 Economy, Business Environment:15 Socio-Cultural and demographic forces:15 Technology:16 Competitive forces:16 Physical and natural forces:16 CONCLUSION:18 RECOMMENDATION:19 REFERENCES:20 INTRODCTION: Nowadays, business is vitally affected by the economic, social, legal, technological and political factors. These facto rs collectively form business environment.Business environment is the total of all external forces, which affect the organization and operations of business. The environment of an organization has got internal, operational and general lives managers must be aware of these three environmental levels and their relationship and importance. Therefore, I will talk about Boeing Company as an example. Boeing Company is American Company. It was founded in 1916. Boeing consider as the world's largest aerospace company and leading manufacturer of commercial jetliners and defense, space and security systems.The company design and make rotorcrafts, electronics, defense systems, missiles, satellites, launch vehicles and information and communication system. The biggest competitors of this company Airbus Company. Airbus is one of the world's leading aircraft manufacturers and it consistently captures approximately half or more of all orders. In the coming lines, I will talk about the following po ints which are the background of Boeing Company, mission, vision and its objective SOWT analysis, competitor analysis, action planning, strategies, and the effect of the PEST environment forces on that company.BACKGROUND OF BOEING COMPANY: Boeing consider as the world's largest aerospace company and leading manufacturer of commercial jetliners and defense, space and security systems. A top American exporter, the company supports airlines and American. and allied government customers in more than ninety countries. The Boeing products and tailored services include commercials and military aircrafts, satellites, weapons, electronics and defense systems, launch systems, advanced information and communication systems, and erformance-based logistics and training. Boeing Company has a long tradition of aerospace leadership and innovation. Company continues to expand its product line and services to meet emerging customer needs. Its broad range of capabilities includes creating new and more efficient members of its commercial airplane family; integrating military platforms, defense systems and the warfighter through network-enabled solutions, creating advanced technology solutions and arranging innovative customer-financing options.With corporate offices in Chicago, the company employs more than 159,000 people across the United States and in 70 countries. This represents one of the most diverse, talented and innovative workforces anywhere. More than 123,000 employees hold college degrees, including nearly 32,000 advanced degrees and in virtually every business and technical field from approximately 2,700 colleges and universities worldwide. Our enterprise leverages the talents of hundreds of thousands more skilled people working for Boeing suppliers worldwide.Boeing is classified into two business units: Boeing Commercial Airplanes and Boeing Defense, Space and Security. Supporting this units are Boeing Capital Corporation, a global provider of financing solutions; th e Shared Services Group, which provides a broad range of services to the company worldwide; and Boeing Engineering, Operations & Technology, which helps develop, acquire, apply and protect innovative technologies and processes. Mission: The mission of the company is to maximize the number of services and opportunities while establishing Boeing’s leadership in NMA activities.Functions that control Boeing are business development and strategy, communications, engineering, operations and technology, finance/shared services group/Boeing capital corporation, human resources administration, international, law and offices of internal governance and public policy. So Boeing Company has many values work to achieve it. First, Leadership is the world class leader in every aspect of our business and in developing our team leadership skills at every level, in our management performance; in the way it design and build support our products and in our financial results.Secondly, Integrity is always takes the high road by practicing the highest ethical standards and by honoring our commitments. It takes personal responsibility for our actions and treats everyone fairly and with trust and respect: Third, the Quality of striving for continuous improvement. So that it take rank among the world’s premier industrial firms in customer; employee and community satisfaction. Finally, Customer satisfactions are essential to our success. Vision: It seeks redressing from the other for unfair government subsidies in the development of new airplanes.Also, it is important for people to work as a global enterprise for aerospace leadership â€Å"People Working Together as One Global Company for Aerospace Leadership. Also, it works hard to develop the education for her employees. Objective: 1. Improve Performance: †¢ Sponsor outstanding dinner meetings and special events. †¢ Exploit multi-media member communications. †¢ Provide effective NMA metrics and reporting. †¢ Address direct support of Boeing’s business goals. 1. Spearhead Expansion †¢ Team with current chapters. †¢ Maintain and increase membership. 2. Implement Training Provide regular development seminar †¢ Apply NMA training tools and courses. 3. Support education and community †¢ Award high school scholarships. †¢ Speech Contest. †¢ Hold Explore Engineering Programs. †¢ Support volunteer activities. 4. Ensure Recognition †¢ Acknowledge Boeing leaders. †¢ Reward chapter contributors. COMPETITOR ANALYSIS: Airbus is an aircraft manufacturing subsidiary of EADS, a European aerospace company. Based in Blanca, France, near Toulouse and with significant activity across Europe, the company produces around half of the world's jet airliners.Airbus Industry began as a consortium of European aviation firms to compete with American companies such as Boeing. Airbus Industries were formally established on 18 December 1970. It had been forme d by a government initiative between France, Germany and the UK that originated in 1967. In the commercial airline business Boeing operates in a duopoly with Airbus. Airbus has been the largest producer of large commercial jetliners for many years, but Boeing has been gaining ground since recent problems at Airbus, especially the 2005-6 massive production delay for the A380.The delay gave Boeing a large advantage in the market for wide body aircrafts which include Boeing's successful 747, 777, and 787 models. Although the Boeing has pushed back the first flight and delivery of the 787, the Airbus 380 delays have been far more substantial. Still, even with Airbus' problems, the race is far from over and competition remains intense between the two companies. In February 2007, the U. S. Air Force awarded a controversial $35 billion air refueling tanker contract to rival Northrop Grumman (NOG) that was widely expected to go to Boeing.During March of 2007, Boeing had filed a formal appea l against the deal with the Government Accountability Office. In June of 2008, the GAO sustained Boeing's appeal against the Air Force and effectively reopened the contract for bidding. As of August, Boeing is currently requesting an extension past the October 1st deadline in order to alter its design to meet the government's new specifications. Airbus employs around 52,000 people at sixteen sites in four European Union countries: Germany, France, the United Kingdom and Spain. In this table I will show you some statistic about Boeing and Airbus Industrie: Company |1994 Sales in $m |1994 Earnings in $m |Market Share % | |Boeing |16,851 |1,022 |62 | |Airbus Industrie |8,000 |N/A |24 | |Company |Gross orders |Cancellations |Net orders | |Boeing |120 |46 |74 | |Airbus Industrie |125 |54 |71 |SWOT: SWOT Analysis of Boeing Company is defined as a framework used extensively for an assessment of the internal as well as external business environment as a part of the strategic or corporate pl anning process. The framework is including the firm's strengths & weaknesses as part of internal environment assessment and opportunities & threats as part of the external environment assessment that aids strategic decision making which may include macroeconomic matters, technological change, legislation, and socio-cultural Changes, as well as changes in the marketplace or competitive position. Strengths |Weaknesses | |Workforces and planning |Loss | |Innovation |Lack of technological innovations | |Management system |Threats of Substitute Products or Services | |Leadership |Competition of trains | |Knowledge |Affect of technology development | |Highly Skilled Managers | | |Provide global customer support | | |Outsourcing | | |High quality of products | |good services | | |Threats |Opportunities | |Competitor |Market developments | |Trade Barriers |Competitors' vulnerabilities | |Deregulation of Airlines |Industry or lifestyle trends | |Threats of Substitute Products or Services |Technology development and innovation Global influences | |threat of the Airbus |Information and research | |Lack of planning |New aircraft to gain market share | | |Increase demand for point to point routes | Strengths: 1- Workforces and planning: Boing has trimmed its workforce to the minimum and it has plans to further cut 7000 jobs and has completed family of planes from the small 737 to the world's largest carrier the 747 which allows it to serve any airline in any category. 2- Innovations: boing has innovated in many areas and has a very strong technological position it is well established. 3- Management system: It has improved its inventory management systems. 4- Leadership: It still has a leadership position in the industry. 5- Highly Skilled Manager The operation of the company will run smoothly.The performance of the company will improve and would lead the company to be successful. 6- Provide global customer support it would serve the customers better and it wo uld be very convenient to those customers in other countries to ask for help. This would help the company to gain a better image due to the provided services to help the customers. 7- Outsourcing: It can save time for the company to manufacture or assembly its products. 8- High quality of products: Emphasizing the product quality to ensure that the durability of the company is lasting for long period of time. 9- Provide Good services. . Weaknesses: 1. Loss: balance sheet and income statement point to some weaknesses.R spending of $1,661 million, around 8% of sales is rather low for this industry. Its long term debt is also increasing and its overall return on common equity is around 8. 9%, below the average industry rate which is 13. 1%. This, associated with its declining defense revenues, may restrict its access to additional capital in times of crisis. 2. Threats of Substitute Products or Services: for example people don’t use planes to travel they will use train and other way. 3. Competition of trains: Customers run away from aircraft to trains because of its services. Threats Implications: 1. Competitor: The competitor might overcome them and the threat is increasing the competitor’s market share. 2.Trade Barriers: They may encounter difficulties in the regulation regarding aircraft imposed by the country to which they export their products to. 3. Deregulation of Airlines: The regulation of the company for its customers would compromise in order to gain favor of the customers. 4. Threat of the Airbus because Airbus is the big competitor for Boeing Company. 5. Lack of planning. Opportunities: New aircraft to gain market share: with the impressive show of Airbus A380 recently, Boeing also plans to release its powerful weapon in the competition with Airbus. The new version Boeing 787 which inherits the most advanced technologies and advantages of the previous models is hoped to be a big hit to the airline industries.At the moment, Boeing has re ceived a number of orders for Boeing 787- Dream liner and this opportunity actually shows that Boeing still insists on its successful business strategy to build longer-range, more capable, smaller aircraft that could go point-to-point and therefore, serve city pairs directly rather than having to hook them up through a hub. The new 787 is the proof that Boeing does not lag behind the competition. THE STRATEGY: The problems that the company faced are: 1. Unwinnable competition, which is wasteful. 2. Design and engineering problem. 3. Poor cost control. The causes of problems are: 1. Poor engineering expertise. 2. Poor marketing research. 3. Using wrong strategies. Action planning: 1. Merge to companies 2. Get good engineer (work with university). 3. Get good marketers. 4. Do comprehensive. 5. Marketing research. 6. Restructure. 7. Use cooperative strategies. 8. Improve design and R. 9. Make the right aircraft. 10. Cost leadership.There are many problems that come from the using of wr ong strategies, poor engineering expertise and poor marketing research. The basic problems are unwinnable competition which is wasteful, design and engineering problem and poor cost control. Boeing Company uses poor engineering and poor design that actually will affect the nature of the working of company. Boeing Company is unwinnable competition because their competitors have high quality management and good services better than them so, customers prefer to deal with their competitors. It has also problem with marketing research. However, good marketing research can help company to know strength and weakness of their competitors and to know how to improve their works and to be able to face new technologies.Boeing Company has poor cost control that will lead to lose their money and the profit will be low. There are many actions that the company should follow to overcome any problems such as get good engineers who graduated from university and have high qualification and experience. Boeing Company has to restructure its strategies and use cooperative strategy. Also, if it merges with companies, get good marketers, do comprehensive, marketing research, improve design and R and make the right aircraft, it will achieve competitive advantage and maximize the profit. Alternative strategy: Cost leadership, it focuses in decreasing the cost and price.It is a good strategy for the company, if it follows this strategy, it will be more successful and it will reduce its economic costs. Also, this strategy will help company to develop and grow very fast. PEST ENVIRONMENT: Political, Economic and financial, Social, physical and natural, competitive, demographic, Technological forces (PEST) analysis is concerned with the environmental effects on a business. The term PEST stands for the Political, Economic and financial, Social, physical and natural, competitive, demographic, Technological issues that could affect the strategic development of a business. New I will explain th e forces that effect Boeing Company in Us: Politics, Legislation: Political forces refer to country's political system.The ability to support or disrupt business operations of domestic & international firms that mean Influence of politics & political interests. Also, Governmental topics, taxation issues, environmental controls and dependencies, subsidies and quotas regulations, employment and labor laws, consumer legislations and regulations, competition issues, health & safety concerns and issues. Economy, Business Environment: The economic environment refers to differences between countries economic systems in the country which the organization operates. Therefore, when we talk about condition of economic system I mean the economic growth, inflation and unemployment.As we know, the economic crisis affects all the businesses around the world. Boeing Company effected by this crisis so what happened in the economy will have a big effect on the company. Despite Boeing's 2008 revenue h as declined to 8. 25% and that because of the economic crisis. In particular, revenue in the Commercial Airline division fell by 15. 34%, as a strike by the International Association of Machinists in 2008 resulted in 104 fewer airplane deliveries than planned. Furthermore, net income fell 34% and contractual backlog expanded to a record level of $279 billion. Net income declined by 22. 1% over the first half of fiscal year 2009. Socio-Cultural and demographic forces:The social dimension or environment of a nation determines the value system of the society which affects the functioning of the business and Refer to way shared beliefs, values & attitudes affect employee & consumer behavior & management of foreign subsidiaries. And demographic forces refer to the characteristics of population, e. g. size, growth, spending power. Socio-Cultural has changed when the country get developed. The changing maybe in education, public opinion social mobility, and attitudes so the socio-culture c an affects the business: ? Population growth rate and age profile. ? Population health, education and social mobility, and attitudes toward those. ? Population employment patterns, job market freedom and attitudes to work. Press attitudes, public opinion, social attitudes and social taboos. ? Lifestyle choices and attitudes to those. Technology: Refers to technology-induced changes that have altered the way firms undertake & coordinate their international activities. Transportation and communication technologies – firms able to outsource R and back office processing. Technology is used in many of life fields. First, we use technology in the process of manufacturing and that through buying effective and modern machines and equipment. Second, we also use it in design techniques and in management of our company through using computers and other tools of technology.Third, technology provides us with some ways in marketing and advertising via TV, Internet and others tools. Technol ogy influences the company in terms of investment in technology, consistent application of technology and the effects of technology on markets. Emergent technologies have a big Impact on company. It can speed up the work in the company so it can apply all the orders. Also, the internet has its own impacts which are reducing communications costs and increasing remote working. (Reference: http://en. wikipedia. org/wiki/Boeing) Competitive forces: A competitive force refers to the pressures imposed by other firms in competing industries.Boeing company faced strong competitive from Airbus Company because these two company work in same field. These two companies compete in price, service and product. Physical and natural forces: Physical and natural forces refer to environmental pressures and risks that influence international business strategy. These forces divided to two types. First, natural risks arise from environmental disasters (e. g. earthquakes). Second, Manufactured risks are e nvironmental risks created by human intervention – pollution, threat to eco-systems, climate change, genetic modification, and terrorism. This factor can effect in Boeing company very clear. CONCLUSION: In conclusion, I am going to summarize the points that I have talked about in my report.First, background of Boeing Company which is a major aerospace and Defense Corporation, founded by William E. Boeing in Washington its international headquarters has been in Chicago since 2001 and its mission, vision and objectives. Second, I have analyzed their competitor which is Airbus and it is the biggest its competitor. Airbus is one of the world's leading aircraft manufacturers and it consistently captures approximately half or more of all orders for airliners with more than 100 seats. Third, I analyzed its internal and external environment factors which are referred to SWOT. Fourth, I have talked about the strategy which includes problems, causes and action plan of the company.Boein g Company has to restructure its strategies and use cooperative strategy instead. I recommend Boeing Company to merge with companies, get good marketers, do comprehensive, marketing research, improve design and R&D and make the right Aircraft; it will achieve competitive advantage and maximize the profit. Finally, I have talked about the term PEST which stands for the Political, Economic, Social, and Technological issues that could affect the strategic development of a business. RECOMMENDATION: In fact, Boeing Company is a popular company in the world, but there are several forces and challenge which face it and make it in a bad situation. So I explained them in my assignment.Therefore, I recommend this company to develop their abilities such as employee’s skills, investment, competitive advantage, consumer relationship management and advertising. In my opinions, I think Boeing Company can develop their employee’s skills through training. Also, I should invest in rich countries which pay more money to increase the profitability to company. A good idea to the company creating new and develop aircraft to unique it from other companies. Finally, I think if Boeing Company does good advertising that enough for it to monopoly aircraft manufactured over the world. REFERENCES: http://www. boeing. com/companyoffices/aboutus/brief. html http://manonamission. blogspot. com/2005/08/boeings-ba-mission-statement. html : http://www. boeing. com/news/speeches/1998/980121. htm http://www. boeing. om/companyoffices/aboutus/community/focus_objectives. html – http://www. soe. ucsc. edu/classes/ism158/Winter03/boeing. htm – http://en. wikipedia. org/wiki/Airbus http://www. writework. com/essay/boeing-s-strength-weakness-threats-oppotunities-and-its-im : http://www. soe. ucsc. edu/classes/ism158/Winter03/boeing. htm http://en. wikipedia. org/wiki/Airbus http://www. companiesandmarkets. com/Summary-Company-Profile/boeing-company,-the-swot-analysis-145568. asp http://www. wikinvest. com/stock/Boeing_Company_(BA)) http://en. wikipedia. org/wiki/Boeing Books: (Principles of Marketing) Thirteenth Edition, Philip Kotler and Gary Armstrong. Books: (Management 9e ) John R. Schermerhorn, JR.

Free Essays on BMW

BMW Assembly Line The latest tool offered to the manufacturing world is the introduction of robots and automated supply retrieval systems into the assembly lines and production systems. The main reason and advantage for the automation of the assembly lines are the reduction in labor cost and the reduction of human error. â€Å"Adding the latest in robotics and assembly line conveyor systems can help manufacturers meet the stiff challenges they face. With smaller robotic cells, top-loading robots mounted on gantries, new vision-based robots, simulation software for visualizing robotic cells, and more efficient assembly line equipment, manufacturers can boost productivity and remain competitive.† (Waurzyniak) The initial cost for setting up an automated assembly line is often expensive but for a plant that has a high volume output the payback period will be minimal. The key here is the use of high volume repetitive processes. The biggest benefit in automating an assembly line is presented in the removal of human processing in the repeated mechanical movements. Operation Process and the Product There are two distinct operations processes that may be selected in the manufacturing and operations methods. There is the intermittent operations process and the continuous operation process. The selection of the most efficient process is most greatly influenced by the product itself. This is mainly based on the amount of products that will be produced of the same or similar characteristics. If a product is selected for production that is identical at will have a high operation output then the most efficient process would be the continuous operations method. The greater the volume of output a product has the more savings that can be achieved by economies of scale and mass assembly lines. The other end of the spectrum is the selection of a product that has a relatively low volume or has very different characteristics. This type o... Free Essays on BMW Free Essays on BMW BMW Assembly Line The latest tool offered to the manufacturing world is the introduction of robots and automated supply retrieval systems into the assembly lines and production systems. The main reason and advantage for the automation of the assembly lines are the reduction in labor cost and the reduction of human error. â€Å"Adding the latest in robotics and assembly line conveyor systems can help manufacturers meet the stiff challenges they face. With smaller robotic cells, top-loading robots mounted on gantries, new vision-based robots, simulation software for visualizing robotic cells, and more efficient assembly line equipment, manufacturers can boost productivity and remain competitive.† (Waurzyniak) The initial cost for setting up an automated assembly line is often expensive but for a plant that has a high volume output the payback period will be minimal. The key here is the use of high volume repetitive processes. The biggest benefit in automating an assembly line is presented in the removal of human processing in the repeated mechanical movements. Operation Process and the Product There are two distinct operations processes that may be selected in the manufacturing and operations methods. There is the intermittent operations process and the continuous operation process. The selection of the most efficient process is most greatly influenced by the product itself. This is mainly based on the amount of products that will be produced of the same or similar characteristics. If a product is selected for production that is identical at will have a high operation output then the most efficient process would be the continuous operations method. The greater the volume of output a product has the more savings that can be achieved by economies of scale and mass assembly lines. The other end of the spectrum is the selection of a product that has a relatively low volume or has very different characteristics. This type o...