Monday, January 27, 2020
The Global Market Entry Strategies Of Banks Commerce Essay
The Global Market Entry Strategies Of Banks Commerce Essay The PESTLE analysis was enunciated to ascertain the levels of the effects the external environment plays in the global market arena. The global market entry strategy remains an important focal point in global marketing as banks in an effort to enhance growth and survival expand to other foreign markets to remain competitive in a turbulent and ever changing business environment. This research took a cursory look at the various elements that determines the options available to financial institutions especially banks as the mode of entry varies based on different criteria and how such decisions are made, the advantages and disadvantages of joint ventures, strategic alliances and mergers acquisition were appropriately considered. These elements also includes the focal theories of marketing strategic environment, the eclectic, the business network, the institutionalization and the resource based theories of foreign direct investment, the different market entry choice open for banks was a nalysed. The market conditions that influences the decision of banks in selecting markets are analysed (the internal and external conditions), the market entry partner selection criteria was enunciated. Guaranty Trust Bank Plc. has taken a look at the disadvantages of the partnership style and hence opted for the choice of not adopting these styles of market entry as the countries it is participating in had not stringent protectionist regulation, all these countries of Gambia, Ghana, Sierra Leone and Liberia all needed the influx of foreign direct investment from neighbour nations. GTBank however opted for the establishment of subsidiaries in these countries by taking the grow brand straight into the markets of its choice, the branded products were internationalized. This gives it the leverage to make definite decisions and determine the steps, pace and determine the direction in which it decides to operate. This mode of market entry strategy enhanced GTBanks chances of being innovative and to compete favourably in its continuous drive to attain maximum height in the global business environment it finds itself. This has contributed to the successive growth of the bank in the West African sub-region. Had it opted for the partnership strategy, it would have been restricted from undertaken and exploring the market as much as necessary the partial if not, total control of the principal it so attached itself to. This limits its capabilities and strides to the views and acceptance of the principal partner in the host country and this weakens its innovative drive. GTBank plc. in an effort to seek expansion has subsidiaries in emerging financial markets of Sierra-Leone, Liberia, Ghana and Gambia with a correspondent outlet in United Kingdom. This has brought in a revolutionary trend in the style and system of conducting banking business in the West African sub-region. It is along this line that this research examines the entries style and strategies employed and other considerations by the bank. ACKNOWLEDGEMENTS I would like to extend my gratitude to the following for giving me full support through the course of this project.  Many thanks to the branch manager of GTB, and other department heads that helped me with my study. I would also like to thank my supervisor, Barny Morris for providing support and guidance whenever I needed it. Lastly, I would like to give special thanks to my father Mr Barda, and my sister Fatima Barda for supporting me throughout my years of study.                                                                                                                 CHAPTER ONE 2.0.        INTRODUCTION The global financial meltdown has necessitated the re-strategizing of different financial institutions with Guaranty Trust Bank Plc Nigeria having to change its marketing strategies continuously and seek to internationalize by going into different foreign markets. There are two advantages that necessitated firms involving in global marketing, the idea of sustainable growth and expansion and a tacit route for survival in the ever competitive financial business environment (Buckley and Carson 1996). Guaranty Trust Bank Plc was incorporated as a limited liability company licensed to provide commercial and other banking services to the Nigerian public in 1990, commenced operations in February 1991and became publicly quoted company on the Nigerian stock exchange in September 1996, In February 2002, GTBank was granted a universal banking license and later appointed a settlement bank by the Central Bank of Nigeria in 2003. Guaranty Trust Bank undertook its second share offering in 2004 and successfully raised over N11 billion from Nigerian Investors to expand its operations and favourably compete with other global financial institutions. The Central Bank of Nigeria raised the minimum capital base of banks operating in Nigeria to N25 billion in 2005 as part of the regulating bodys efforts to sanitize and strengthen the financial institutions in Nigerian, GTBank subsequently met this criteria(CBN bulletin, 2006), in post-consolidation, Guaranty Trust Bank Plc made a strategic decision to actively pursue retail banking. A major rebranding exercise followed in June 2005, and GTBank began an aggressive expansion strategy and taking the product brand to Ghana, Gambia, Liberia, Sierra Leon, and a correspondence outlet in United Kingdom (GTB Home 2011) What are the Research Questions? 1      What is the foreign market entry strategy that GTBank used in its quest for global expansion and growth? Did the choices of foreign market entry option work for Guaranty Trust Bank in its quest for global expansion and growth? Did the Market entry option strategy contribute to Guaranty Trust Bank competitiveness? Global marketing entry strategies has [BM1] been an underlining factor towards sustainable growth, expansion and survival of all financial institutions in the w[BM2] orld, the rationale behind this research is to ascertain the importance financial institutions like GTBank derive from their global entry strategies[BM3] in the bid for competitiveness in the global financial markets. The last global financial crisis that led to several multi-global financial institutions like Goldman Sachs and Lehmann Brothers went bust and how a financial institution like GTbank may use its market entry strategies to effect and continue its quest for sustainable growth and continuous expansion Sceptics believe the doomsday was just postponed and not averted entirely [BM4] hence there is still a continued global feeling of another more clinical meltdown envisaged in the nearest future. For its continuing sustainability and expansions, GTBank choice of market entry strategy is vital so as to consolidate or plan its exit strategy as well. Financial institutions are said to be the engine room of all economic activities such as borrowing, investments, consumption spending, net exports, net government spending, and foreign exchange. This research will shed light on how Guaranty Trust Bank Plc stimulated these economic activities in different countries and enhances its growth by its choice of market entry options The aims and objectives of this Research The aim of this research is to look into the global market entry strategies, and how invaluable these strategies are to the overall theme of guaranty trust bank market entry strategy as it seek to expand into other territories.  Objectives of this research are; To review the global market entry strategies. Examine the actual and potential effects of global market entry strategies on Guaranty Trust Bank.  Examine the extent to which Global market entry strategy improves growth and sustainable expansion of Guaranty Trust Bank Methodology This research is based on a case study approach and is largely qualitative and primary data will be used as interviews will be conducted of six person in different departments of GTBank and data from educational Journals, periodical, educational Textbooks, Studies and Reports of institutions, Newsletters, internet sources in addition to erstwhile various related published educational sources will be extensively used. Organization of this Research          This Research is organized as follows: Chapter one contains the introduction to the study, which incorporates:  ·Ã‚      Aims/objectives of the study  ·Ã‚      An outline of the research methodology to be used in satisfying the aims  ·Ã‚      Research questions  ·Ã‚      A brief outline of the subsequent chapters Chapter two consists of literature review and theoretical framework  ·Ã‚      This chapter Summarise what other studies have done, their methods their results, and case studies  Chapter three contains methodology of Research  ·Ã‚      Describing the data, providing descriptive statistics about the data (charts and tables), explain data collection, explain the analysis of the data. Chapter four is the discussion of findings. Chapter five contains recommendations and conclusion                                                      CHAPTER TWO[BM5] INTRODUCTION Rugman (1996) noted that global market entry strategic decisions are taken by firms due to economic reasons either for the purposes of expansion and sustainable growth or for the purpose of survival in a volatile competitive market environment [BM6] In the last decade there has been a large significant [BM7] increase in cross-border entries [BM8] by banks, it has been acknowledged that inter in [BM9] recent years has exceeded the combined total of numbers of partnership[BM10]  formed in decades (Aimin 2001, et al). [BM11] The over saturation of financial institutions in Nigeria led to [BM12] several banking groups to attempt expanding in provision of services to neighbouring countries and beyond. Craig and Douglas., [BM13] (2006[BM14] ) argued that market entry strategies are shaped by the dynamic interplay of the driving and restraining forces of globalization, with increasing and rapid technological advancement, the market need of the local economy, the firms seeking leverage, the quality of product introduced and the world economic trend while the restraining forces are organizational culture, market difference, management myopia, barriers and national control.[BM15] As banks seek fast growth globally, the choice of market entry strategic mode became an issue, as it is an important decision for banks seeking global participation and competitiveness (Buckley and Carson 1996). The selection of an appropriate market entry mode in a foreign market may have considerable effect on a firm either it necessitates growth or causes extensive damage to a firms sustainable growth and survival (Davidson, 1982[BM16] ; Gatignon and Anderson, 1988[BM17] ; Root, 1994; Terpstra and Sarathy, 1994[BM18] ). The subsequent selection of an unsuitable entry mode may block opportunities and hinder growth by limiting the array of strategic market entry options available to the firm (Alderson[BM19] , 1957); This could result in considerable financial losses to the firm, including the firms exit from the foreign market, an example is the Merrill Lynch failure in Japan in the 1980s, in its attempt to enter the private client services market, the mode of market entry was at variance with the Japanese protectionist foreign firm regulations at that time which was highly restrictive of foreign firms (Hill, 2002).[BM20] GTB plc. in its quest for global expansion and sustainable growth must undertake an extensive market research analysis to [BM21] study the foreign business environment it intends operating in as Scott[BM22] (1981) observed that the best way to organize a firm depends on the nature of the environment to which the firm operates. A PESTLE analysis is done to ascertain the viability and profitability of the intended local market before choosing an appropriate market entry mode based on that. Kotler (1998) [BM23] defined PESTLE Analysis as a useful strategic tool for understanding market growth or decline, business position and direction for Operations. Williams and Green (1997) suggested that the PESTEL Analysis also allows an Organisation to have a competitive advantage over other firms in the industry and this technique is used to evaluate and identify the Political, Economic, Social, Technological, Legal and Environmental factors in a given economy that would affect the operation of an organization. Source: Johnson  scholes[BM24]  (2008) The political factor is always necessary to be evaluated, in order to know the favourability of the political climate to market growth and development in a particular country, as the stability of government, its Taxation Policies, and Attitude towards foreign investment is crucial to the survival of the firm. The foreign governments economic framework is accessed to measure the state of the economy by considering the GDP statistical growth, the wage level, the disposable income, Unemployment rate, business cycle and viability of participating in the country. The rate and growth of population is also measured to determine changes in the taste [BM25] and preferences of consumers, changes in the lifestyle of consumers and the level of education of the populace, which would have a great effect on the demand of the products or services provided by GTB plc. The laws and regulations that exist in the foreign business environment is gauged to ascertain the legislative constraints or changes, such as health and safety legislation, working regulations or restrictions on company mergers and acquisitions, minimum wage cap. Porter (1996[BM26] ) believed environmental laws and regulation help push firms towards innovation that will reduce their cost against the cost of keeping to the regulation. The PESTEL analysis is a very relevant and useful tool in analysing the external business environment as Henry. (2008) posited that it allows the firm full and informed knowledge of the foreign business environment the firm intends entering, and contributes to the proper understanding of the competitive nature of the business environment that may affect the firm. Hiebing[BM27]  et al (2011) advanced that, the nature of the competitors in the market, the consumers and government actions contributes in the development of a sustainable competitive advantage over its competitors. From researching the business environment, the firm might be able to see disguised opportunities (Zheng,.2009) Other scholars Williams and Green (1997) considers PESTLE analysis as a waste of time since the business environment is unpredictable; such analysis might become needless, as the business environment is considered uncertain. The business environment is uncontrollable hence the probability of situations arising that cannot be controlled[BM28] FOCAL THEORIES OF MARKET ENTRY STRATEGIES There have been different debates on the best entry mode option firms should use to enter foreign markets; most of these theories are focused on the manufacturing sectors with a peripheral research done on the services sector (Ekeledo and Sivakumar 1998[BM29] ).  A financial institution like GTBank Plc offers products as well as services. There are several theories of foreign direct investment as it relates to the market entry strategies of firms and financial institutions, but for the purpose of this research 3 related theories will be analysed. The Business Network theory [BM30] as the business environment is crucial for the banks strategic participation, the institutionalization theory [BM31] that focuses on the difference between the institutional laws, culture of the home or host country, the Eclectic theory [BM32] as this looked at the concept of determining factors that categorized a firm as a host or source firm, and the resource based theory that look at resources as the main reason firm enter new foreign markets. The joint venture market entry mode, the strategic alliance market entry mode and the mergers and acquisition entry mode is also reviewed[BM33] . Carson (1993) opined the conceptualization of the business network theory is primed that the business market environment focuses on specific relationships between suppliers and the consumers as the two actors in business. At the heart of this approach lies the assumption that suppliers and customers are engaged in long-lasting relationships that they consider to be important for their business as empirical data related to some one thousand business relationships in European markets showed that most firms operate in markets where a limited number of customers account for a considerable proportion of the firms sales (Hakansson 1982; Turnbull and Valla 1986). The institutionalization theory deals with the difference between the institutions in the country of origin and in the receiving subsidiarys country by understanding the complex differences between national business systems through gaining an understanding of institutions governing the way product labour and financial markets work and the way institutional sectors relate to one another ( Baptista, 2009) Such cross-national differences place various degrees of constraints on the international dissemination of practices within multinational firms (Fermer et al 2005). It has been proposed that the key variable in this context is institutional distance (Kostova and Zaheer 1999). This comprises the differences in the regulation, normative and cognitive institutions between countries, for example corporate tax policy, peoples attitude to gender issues, and knowledge about possible environmental threats. Dunning (1980) introduced the concept of an eclectic theory of foreign direct investments often referred to as the OLI paradigm, which refers to the determining conditions for a firm to be a source or a host, these acronyms stands for Ownership advantages which allows a firm to overcome the disadvantages of a foreign location, this can be a product, or a production process to which other firms do not have access, such as patent or trademark, Location considerations such as input costs, strategic interaction or trade policy which make it more profitable to produce in a country than to export to it and Internalization gains which makes it more profitable for a firm to undertake foreign production itself rather than dealing with a foreign partner more familiar with the local environment (Sodersten, Reed 1994). Markusen (1995, 1998) reviewed the OLI paradigm by listing major characteristics of firms as, that multinational firms are associated with high ratios of research development relative to sales, employ large number of scientific, technical workers as a percentage of total work-force, tend to have a high value of intangible assets, are associated with new and technically complex products, are negatively associated with plant level scale economies, are associated with product differentiation variables such as advertising to sale ratios, that the size of a firm is minimally unimportant to be considered a multinational and that multinational firms tend to be older more established firms ([BM34] Marrewijk, 2002). Itaki (1991) argued that the concept of the eclectic theory is however flawed, as a result of the redundancy of the concept of ownership advantage, it is assumed redundant because it originates from the internalization and integration theories and that firms tend to acquire and exploit the ownership advantages and that the ownership advantage includes the cost of its acquisition and that after paying for the contribution of all the factor inputs, the firm makes super-normal profit that remains in the final results simply from the firms organizational power in various departments or sub units and the issue of the inseparability of the ownership advantage from the location advantage is another matter of note. The resource-based theory of foreign direct investments views firm-specific resources such as assets capabilities, as the focal drivers of a firms international business strategy, scholars such as Barney (1991), Bharadwaj et al, 1993, and Grant (1991) even though affirming the theory as the most effective theory of international business strategy considers the theory as largely conceptual and descriptive. Root, (1994) urged financial institutions and Banks entering foreign markets to decide on the most suitable entry strategy, the market entry option selection is interpreted to mean an appropriate means for firms to enter foreign markets to participate in international businesses by exploiting their advantages. Banks also need to arrange ownership, either as a wholly owned subsidiary, in a joint venture, or in strategic alliance. There are several mode of market entry strategy adopted by banks when[BM35] entering a new market as the entry mode choice is not necessarily straightforward. A bank may pursue different market entry routes in different foreign markets for different banking reasons.  There are often constraints to foreign entry in the banking sector which home governments try to regulate in other to protect the home banks, which add to the complexity of choice of market entry strategy.[BM36] Joint ventures are considered as the best global market entry strategy and the most cost effective means of expanding to foreign business environment (Hunt and Morgan.,1995) It has been suggested that joint ventures occur as a result of the perceived insistence of nation government to encourage international firms for the purposes of foreign direct investments (Buckley and Carson 1996). Firms ordinarily though form alliances for the singular reasons of value chains and different product offerings. Joint equity are basically the type of joint venture nations governments do encourage because of the gains that can be offered in terms of shared technological advancements to the local firms. The advantages of joint venture to banks is that it addresses the issue of uncertainty by the combined creation of monitoring mechanism that could align such uncertainties for the partners, to reveal information, share technology, make decisions together and pursue certain goals collectively Vernon (1983). This assertion was agreed upon by Pfeffer and Salancik(1978) who noted then that if the problems firms face are competitive and symbiotic, then it can be presumed that joint ventures are undertaken to reduce uncertainties and promote stability in the business environment. Gringer (1991), Beamish and Danks(1987) noted that globally majority of banks establishes business partnerships when the perceived additional benefits outweighs the expected extra cost after undertaken a cost-benefit analysis. It was established by Harigan (1988) that firms form partnership for strategic reasons and argued that joint ventures can exacerbate competition, stabilize profit level, and precipitate in structural changes in vertical integration, technological scale of economies or industry traits. Blodgett (1991) noted that joint venture market entry strategic option could be advantageous in form
Sunday, January 19, 2020
Vaclav Havel: Into the Heart of a Passionate Writer
Writers are a very passionate group of people. Their identities are shaped and formed through their written words. Their pens, combined with wit, conceive literary works that brighten the stage, screen, book or any other reading material, and influence a great audience. Inspiration is taken from different sources, and choices are varied. Sometimes, too, their tool is used to create literary bombs that are more explosive than physical weapons combined.Vaclav Havel, â€Å"a playwright, human rights activist and former Czech President†, is one influential example of this group. To his countrymen and admirers, he is a notable hero as he was able to shake his nation – former Czechoslovakia [and present Czech Republic] – to rise up and take action against the evils of society. He belonged to a wealthy family, who was forced to give up their belongings during Communist rule. This didn't stop him, however, in furthering his studies though he was deprived of his supposed privileges – even banned from pursuing formal university education. This turning point gave him the opportunity to discover the world of literature and enhance his artistry using his country's situation as theme in most of his works.Various adjectives may be used to describe him: radical, nonconformist, leftist. But more so, he can be regarded as a very passionate man in his field. As Matt Welch would describe him, â€Å"He's a fiction writer whose engagement with the world led him to master the nonfiction political essay.†This, he would later prove useful as when chaos threatened to ruin his country. The collection of his writings displays his unmatched creativity at targeting his country's enemies and defending the rights of his fellowmen.History, Arts & PoliticsFormer Czechoslovakia has a rich history to be told, like similar countries that experienced invasion, war and political crisis. That is why politics and the Arts are deeply rooted in the lives and history of Czechs. During the transition periods from Communism to Social Reformation to Soviet Rule to Reformation, the Arts played a vital role in metaphorically criticizing the system when freedom of expression and direct address were restricted. Czech writers used their skill to relay their country's grievances to a gathered crowd and even to a few small, silent groups.Havel, having mastered the art of writing as a playwright, extended his talent to writing essays and delivering speeches to address the growing plight of his fellowmen during those times. Examples of his most famous works like â€Å"The Garden Party, Temptation, and The Increased Difficulty of Concentration were long banned in his homeland†. He spent years in and out of prison because of his open criticisms against dictatorship and fighting for what he believed in. Even for battling personal wars and physical health conditions that nearly killed him, he never failed at implementing his cause.He would often emphasize through his writings and speeches the need to use common sense in governing, emphasizing his total dislike of the â€Å"totalitarian system†and â€Å"fake ideologies†. He wowed the silent and fearful crowd by his straightforwardness and determination in delivering the message across. The contemporary world became his refuge while deeply focusing on the growing need for change, and attacking the system and its allies. His open letter to â€Å"Gustav Husak, former Czechoslovakia dictator†– denouncing his way of governance and the effect against the Czech people- is one admirable feat. It stirred the uprising that eventually freed his country, thereby eradicating the injustice that Communism brought and successfully owning their long-deprived freedoms at last.The â€Å"Velvet Revolution†started. When the rock group â€Å"The Plastic People of the Universe†were banned and arrested for doing underground performances, Havel co-founded â€Å"Charter 77†, a human rights organization defending those violated which was subsequently supported by the formation of other human rights organizations.Musicians, writers and filmmakers created a light mood out of the dreary situation by organizing theater performances. It resulted to the â€Å"Prague Spring†, which opened opportunities for artists to inform and involve the world of their situation to which the world responded accordingly. This, in turn, led to the stoppage of further performances and exile of those gifted individuals. But due to their boldness and the strong support of the Czech people, a series of groundbreaking events happened that eventually weakened the government.Havel's written and verbal denunciations were always noticed and observed – reason that he had to pay for by serving prison terms and torture. It still remains a wonder, though, why he wasn't executed when some of the other reformists were â€Å"purged†by the government. He is just lucky indeed to be alive and continue his mission.His entry to politics was also bittersweet. He had critics, mostly from those exiled during the â€Å"Stalinist-style†governance who were his former counterparts. He immediately shared his platforms, which focused on interaction and involvement, upon assuming the presidential seat. He coined the term â€Å"nonpolitical politics†to highlight his philosophy of leadership with heart and soul, rather than plain implementation of rules. His rule led to gradual and drastic reforms combined. These actions, though, led to some of his former friends calling him a traitor and masked social ally; but, he remained steadfast in his beliefs. Reflections of these events in his life were written in his â€Å"Summer Meditations†. It was his passage to discuss his own conflicts with the world, while helping build a better society.Much was said for and against him, but even for the many negative comment s, his positive actions outshone. His independent attitude led to a very colorful and exciting life that he was proud of – and which, also colored his country and fellow men's once hopeless lives.Modern Czech Theatre and Present Czech RepublicThe Czech Theatre as well as the Czech Republic will not be what it is now had it not been for the efforts of Havel and a few others. We can say that Czechs, who haven't experienced the bitter past of their country but have heard about it, can say nothing but praise to the people who led them to democracy. Freedoms are not deprived anymore, thanks to the â€Å"dramatic political changes†that shaped their country. Now, Czechs can sit back and relax while listening to music or watching shows that depict a freer expression of the artists involved – without fear of prosecution or unjust torture.The Arts have graced the stage throughout their history, but the sweetest result is the present situation where everyone can join a nd express their thoughts without fear. Many talented individuals have sprung up following Havel and his counterparts' footsteps. The international scene is now one of their channels in showcasing their gifts. The remaining group of the past, that were once commanded to stop, is proud of the fruits of their labor. Nobody can't help observe their situation and lifestyle today without involving politics and the arts, which formed their identity as a nation. Their nation and culture was built on firm foundation strengthened throughout the years that it was under colonial rule.Havel may just be one trigger that sparked the gradual evolution of literature and politics. He could have chosen to stay mum and be a puppet to the system, but his desire to have a free Czechoslovakia and to be a free man prevailed, despite fear of being prosecuted and sentenced. For most, he may be legendary. To some, downright crazy. But overall, he is one big influence who helped give breathing space for his fellow Czechs while allowing some for himself. Today, he continues to inspire, through his life story and works, a number of people who look up to him in awe, wondering how he was able to put his act together and do something quite impossible and fearful at first thought, but possible if one is really determined at achieving it.And as a passionate writer with compassion to his homeland, he was able to use his talent to give the greatest gift his country long deserved – freedom – which is made sweeter by the long journey it has undergone before actually owning it.Works Citedâ€Å"Czech Republic Today†. The World Book Encyclopedia of People and Places. 2000.â€Å"Havel, Vaclav†. Academic American Encyclopedia. 15th ed. 1994.Welch, Matt. â€Å"Velvet President: Why Vaclav Havel is Our George Orwell and More?†Mar 2003.Reason Online: Free Minds and Free Markets.12 January 2008. .
Saturday, January 11, 2020
Describe How the Uses of Plant Fibres and Starch May Contribute
Describe how the uses of plant fibres and starch may contribute to sustainability How can plant fibres be used? First of all the plant fibres have to be extracted from the plant itself. The process of extraction often used is called retting. Retting involves using water or micro-organisms to dissolve or rot away the cellular tissues surrounding the bast-fibre bundles. Afterwards the fibres are obtained; usually they extract very long sclerenchyma cells and xylem tissue because of their good tensile strength. From this many materials can be made, here are a couple of examples: ? Wood fibres – can be used to make paper from trees Sisal fibres – are obtained from Agave Sisalana and these fibres are used in the construction of cars, furniture, plastics and even paper. Uses of starch and plant based products to replace oil-based products Canvas Bags – Canvas bags is a product sweeping the nation to help us rid the use of plastic oil-based plastic bags. Canvas bags are made from linen, which are fibres extracted for the flax plant, canvas bags also contain cotton, which is extracted from the cotton bag. The canvas bag is an ingenious product because not only can it replace the oil-based (petroleum) plastic bags but they are also reusable and also sustainable. Related reading: Disadvantages of Plants Living on LandStarch Bags – Starch bags are a relatively unknown product, not as popular as a replacement as a canvas bag. However the starch bag is obtained from the starch within many plants. If the bag is no longer needed and discarded, they will soon decompose into carbon dioxide, water and biomass within 10-12 weeks, thus leaving no harmful residue behind. If you compare these to the oil-based products, they are a lot greener; this is because oil-based petroleum plastic bags give off a lot of air pollution and energy consumption to produce them.In addition to this if the plastic bags are discarded like many of them are (100 billion per year in USA), then they would not biodegrade (takes 1000 years) and could generate visual pollution and bring discomfort, and a lot of the time, death to many animals. Advantages and Disadvantages: Advantages – †¢Both the starch bags and the canvas bags (made of cotton and linen) are made from a sustainable source. †¢Canvas bags do not wear and tear. In addition to this they are stronger than oil-based plastic bags and won’t split under heavy pressure. Starch bags are biodegradable – If the starch bags are discarded they will decompose into non-harmful residue within 10-12 weeks of production. Disadvantages – †¢The land used to grow the cotton plants, flax plants and plants used to extract starch would be wasteful and take up plenty of ground. Because cotton is predominately grown in Africa and India (places where food is at a shortage and hunger is on the uprising), the land used for the cotton would take up much area that could be used for farming, farming that could lead to food for the local people.The introduction of canvas bags and starch bags has the potential to change the way we think about greener alternatives. Canvas bags already have become widespread popular, with millions of households across England owning at least one, however oil-based plastic bags are still the leading supermarket bag. I believe the production of starch bags and canvas bags are extremely important and should be developed further and advertised more, this will hopefully ensure that the production and use of oil-based plastic bags are eradicated completely.This in turn would: decrease the production of harmful gases into the atmosphere and cause less air pollution; it would decrease the visual pollution of discarded plastic bags, would save animals lives that could get caught in them or even choke on them. On the other hand, as previously mentioned, land taken up to grow plants for the bags would precious land that could be used for farming and could feed a lot of the local people.
Friday, January 3, 2020
Economic Advisement Paper - 1634 Words
Option 1: Economic Advisement Paper Brittany McCarty, Jake Vickers, amp; Michelle Williams Learning Team B Eco 372 July 11, 2013 Dr. Samuel Imarhiagbe Two Economic Theories Modernizing over the decades, two main theories support economists, proposals, arguments, and predictions. The first theory is the Classical model perspective and the second theory is the Keynesian model perspective. The first theory promotes a hands-off approach and the second a government intervention approach. The first theory believes that if left alone, the natural market forces would right themselves and eventually achieve the proper balance. The second theory believes that people have to live through the process of†¦show more content†¦The BLS reports that the average annual expenditures per consumer ascended 3.3% in 2011 with a decline of 2% in 2010. The main parts of household consumption rose in 2011 with an 8% advancement in transportation expenses were the largest ratio surge with all major components. The total expenses for food, college student funding, divorce financial support, and charitable donations increas ed by 5.4%. Spending also increases in health care expenses, housing, apparel, entertainment, and personal insurance and pensions (Board of Governors of the Federal Reserve System, 2012). Consumer expenditures rising during this term will move the aggregate demand curve to the right as increased spending increases demand. This BLS report indicates that the next term should show statistical aggregate demand increases, and according to the Classical model perspective encourages a laissez-faire approach concerning correction of the long-term economic factors (Colander, 2010). The Classical model works perfectly as consumer expenditures are trending on the rise when factoring consumer expenditures. Until a more apparent downturn shows itself, the invisible hand should continue to work naturally. Expectations 2012 In October of this year, the Bureau of Economic Analysis reports the Real Gross Domestic Product which is the United States production of goods and servicesShow MoreRelated Mcdonalds Expands Of Vietnam : Mcdonalds Essay1221 Words  | 5 Pages Contents Expansion Planning 3 International Business Expansion 3 Regional Trade Agreement 4 Affordable Foreign Taxes 4 Financial and Technological Supports 4 Labor Hiring Methods 5 Advertising Strategies 5 Strategic Locations 5 Management Advisement 6 Conclusion 6 MCDONALDS EXPANDS TO VIETNAM Expansion Planning There are various essential reasons for McDonalds expands to Vietnam, include gain market shares in the global market, long-term growth in the South-East Asia, and increase theRead MoreThe World Bank : Professional Organization Report Essay1477 Words  | 6 Pagesincrease global economic growth. Created in 1944 they have locations in five countries, each managed by their host country and are headquarter in Washington, DC. With over 10,000 employees the World Bank supplies countries with the tools needed to progress and sustain. According to the â€Å"What We Do†page The World Bank has two missions which they base all their work on. The first is to bring down to below three percent the number of people living on $1.99 and to promote the economic growth of theRead MoreForeign Internal Defense Of North Africa1504 Words  | 7 Pageshave U.S. advisors stay with their students in battle which lead to success in Somalia10. In 2012 Senator Jim Inhofe said that â€Å"if we can train the Africans, then when problems come up we don’t have to send our kids over there†11. In theory, and on paper, this seems accurate. However, what has played out in Mali, Libya, Tunisia, Somalia, and many other countries in Africa in the past 4 years shows that his statement is not accurate at all. 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The boost economy also drives the media industry grow rapidly which urging a group of super models and fashion actresses well-known among people especially female group through magazines, TV advisements. The clothes that models wear and the make upsRead MoreAggregate Demand and Supply Model - Economic Advisement Essay1647 Words  | 7 PagesModel Economic Advisement With a nominal GDP estimated at more than 15 trillion it is clearly the United States economy is one of the largest in the world. A person must have lived in a cave underground for the past several years to not know that the current state of the nation’s economy is in desperate need of improvement. Many academic institutions have thought about how the economy arrived at its current state and how can it be restored. Some would advocate not using the same economic policiesRead MoreSupply Chain Management and Anticipatory Logistics1234 Words  | 5 PagesLogistics (AL). I will further explain how and why they are used in the military, and how it can be utilized in the corporate world. I will also provide examples of private corporations that are already effectively utilizing anticipatory logistics. This paper will provide facts and opinions from several different reports and write-ups from subject matter experts, news reports, and other documents. The Supply Chain Management (SCM) Helmuth von Moltke said The problem is to grasp, in innumerable specialRead MoreOnline Learning Vs. Online Education1372 Words  | 6 Pagesadvantages and disadvantages of distance learning vs. face-to-face instruction. One disadvantage is a lack of interaction with a professor during instruction. Another disadvantage is traditional enrollment provides more degree options, counselor advisement and student developing applied skills. On the other hand, the advantage of distance learning is costlier efficient and less time-consuming than classroom instruction. Furthermore, online instruction is increasing at a faster rate. Online higherRead MoreWhat Constitutes a Profession? Essay1573 Words  | 7 PagesHaili Jiang GE6 The Professions and Public Interest in American Life Midterm paper 1 Instructor: Shyam During normal usage, it seems that the terms â€Å"profession†and â€Å"occupation†are almost identical and are interchangeable. Generally they both define the work people do for a living. However, after delving into their meanings, one can easily notice that the word profession is a bit more advanced than occupation. In other words, there are peculiar criteria or characteristics that an occupationRead MoreThe Struggle Of Finding A Job1568 Words  | 7 Pagesunemployment rates by educational attainment. This is an important examination because it demonstrates an important trend to the conducts that affect employment and unemployment (â€Å"The Condition of Education†2015). This is important to mention in the paper because it amplifies how different educational completions can increase or decrease redundancy rates over the years. Career Services How Are The Existing Services Not Helping Students Sufficiently Prepare? There is a dearth of information on the
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