1.Critically evaluate if the National Minimum Wage (NMW) have an Essay

1.Critically evaluate if the National Minimum Wage (NMW) have an effect on business performance and increase reward grades - Essay Example They continue to argue that with the introduction of this wage, a great percentage of human labor has been replaced by machinery since the employers attest to the fact that inclusion of the employees in the workplace has become extremely expensive due to the costs that come from reinstatement of wages to the employees. However, other analysts differ with this argument arguing that the wage has increased employee performance in the workplace. In the research carried out by Dickens & Manning (pp.95), the National minimum wage (NMW) has acted as a foundation in which employers can offer proper pay to their employees. This works by virtue of the wage being in a position to manage the increases in wages and controlling all aspects that may lead to cutting down of costs. The National minimum wage (NMW), on the other hand also attempts to be at par with the changes that take place in relation to employees and the wage rates. Nevertheless, other analysts argue that it is extremely tasking for employers to deal with the task of adjusting to the tough economic conditions and dealing with demands of the National Minimum Wage (NMW) as imposed by the government. This essay shall attempt to analyze the National Minimum Wage (NMW) and the effect on business performance and increase reward grades. The major aim of the National Minimum Wage (NMW) is to reduce poverty rates in UK. This is according to research conducted by Dickens & Manning (pp.95), who indicate that with the National Minimum Wage (NMW) the employees have no option but to work in their workplaces or risk being unemployed. In this case, therefore, employees do not want to risk getting into the labor market that does not allow for easy entry into the market; thus, give the best that they can manage whilst in their current jobs. With proper distribution of income in the market, Arrowsmith et al, (pp.435) indicate that there are high chances that individuals will be

Company Analysis for saudi basic industries corporation SABIC Research Paper

Company Analysis for saudi basic industries corporation SABIC - Research Paper Example It offers its products and services all over the world. The regional sites are the Middle East and Africa, Asia, America an Europe. SABIC is the largest and most profitable non-oil producing company in the middlie east. It is ranked in the fifth position largest world petrochemical manufacturer. It is committed to satisfying its customers through achieving individual initiatives. This is enhanced through adherence of strict safety and environmental policies. The high investment in technology and innovation facilitates the ongoing development. The management is committed in running the business and achieveing sustainability through providing services and products that meet stakeholder’s expectations as well as conduct business with respect and care for the environment. Regulations are followed at all times and they apply practical means to conserve resources and reduce waste, avoid pollution in order to minimize risks involved in their operaions. Quality of products and services is maintained at all times. SABIC is in the petrochemical industries and is the five largest in the world. The company has had strict safety and environmental responsibility. It has incorporated sustainability in its day to day business activities. Its reports are integrated clear showing the environmental and social impact of the company in the various regions. This is through reducing waste, preventing pollution, catering for customers needs. The company has 33,000 employees for the last four years in 40 countries. Its culture is to cater for the ever growing needs of the customers. This responsibility has opened up avenues for innovations and technological advances. The T & I facilities are found all over the world with highly talented expects and scientists who are devoted in bring new patents and certifications. The company is always focused in to the future thus technology is heavily invested into. The

Environmental Issues In Australia Environmental Sciences Essay

Environmental Issues In Australia Environmental Sciences Essay Climate change has come to a stop and is now a major political talking point in Australia in the last two decades. Persistent drought and resulting water restrictions during the first decade of the twenty-first century are an example of natural events attributed by the mainstream media to climate change 1.1 Energy use Australia is a major exporter and consumer of coal, the combustion of which liberates CO2. Consequently, in 2003 Australia was the eighth highest emitter of CO2 gases per capita in the world liberating 16.5 tonnes per capita. Australia is claimed to be one of the countries most at risk from climate change according to the Stern report. Most of Australias demand for electricity depends upon coal-fired thermal generation, owing to the plentiful indigenous coal supply, limited potential for hydro-electric generation and political unwillingness to exploit indigenous uranium resources (although Australia accounted for the worlds second highest production of uranium in 2005) to fuel a carbon neutral domestic nuclear energy program 2 Conservation Conservation in Australia is an issue of state and federal policy. Australia is one of the most biologically diverse countries in the world, with a large portion of species endemic to Australia. Preserving this wealth of biodiversity is important for future generations. A key conservation issue is the preservation of biodiversity, especially by protecting the remaining rainforests. The destruction of habitat by human activities, including land clearing, remains the major cause of biodiversity loss in Australia. The importance of the Australian rainforests to the conservation movement is very high. Australia is the only western country to have large areas of rainforest intact. Forests provide timber, drugs, and food and should be managed to maximize the possible uses. Currently, there are a number of environmental movements and campaigners advocating for action on saving the environment, one such campaign is the Big Switch and I Love Earth. Land management issues including clearance of native vegetation, reafforestation of once-cleared areas, control of exotic weeds and pests, expansion of dryland salinity, and changed fire regimes. Intensification of resource use in sectors such as forestry, fisheries, and agriculture are widely reported to contribute to biodiversity loss in Australia. Coastal and marine environments also have reduced biodiversity from reduced water quality caused by pollution and sediments arising from human settlements and agriculture. In central New South Wales where there are large plains of grassland, problems have risen fromà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬unusual to sayà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬lack of land clearing. The Daintree Rainforest, a tropical rainforest near Daintree, Queensland covering around 1200 square kilometres, is threatened by logging, development, mining and the effects of the high tourist numbers. 3 Invasive species Australias geographical isolation has resulted in the evolution of many delicate ecological relationships that are sensitive to foreign invaders and in many instances provided no natural predators for many of the species subsequently introduced. Introduced plants that have caused widespread problems are lantana and the prickly pear bush. The introduction and spread of animals such as the cane toad or rabbit can disrupt the existing balances between populations and develop into environmental problems. The introduction of cattle into Australia and to a lesser extent the dingo, are other examples of species that have changed the landscape. In some cases the introduction of new species can lead to plagues and the extinction of endemic species. The introduced species red fox has single-handedly caused the extinction of several species. Tasmania takes the threat of red fox introduction so seriously that it has a government sponsored taskforce to prevent fox populations from taking hold on the island 4 Land clearing In the prehistory of Australia the indigenous Australians used fire-stick farming which was an early form of land clearing which caused long term changes to the ecology. With European colonisation land clearing continued on a larger scale for agriculture particularly for cattle, cotton and wheat production. Since European settlement a total of 13% of native vegetation cover has been lost. The extinction of 20 different mammals, 9 bird and 97 plant species have been partially attributed to land clearing. Land clearing is a major source of Australiaà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s greenhouse gas emissions, and contributed to approximately 12 percent of Australiaà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s total emissions in 1998. The consequences of land clearing include dryland salinity and soil erosion. These are a major concern to the landcare movement in Australia. The clearing of native vegetation is controlled by Federal laws (indirectly), State law and local planning instruments. The precise details of regulation of vegetation clearing differ according to the location where clearing is proposed. 5 Waterway health The protection of waterways in Australia is a major concern for various reasons including habitat and biodiversity, but also due to use of the waterways by humans. The Murray-Darling Basin is under threat due to irrigation in Australia, causing high levels of salinity which affect agriculture and biodiversity in New South Wales, Victoria and South Australia. These rivers are also affected by pesticide run-off and drought. 6 Water use Water use is a major sustainability issue in Australia. During times of drought Water restrictions in Australia apply to conserve water. Climate change may intensify drought in Australia putting pressure on water resources and leading to alternative water sources including construction of Water tanks, dams, Water transportation and desalination plants many of which affect water catchments and put increasing pressure on the environment. www.tu.org/ www.abc.net.au/news/topic/mining-environmental-issues www.abc.net.au/environment/articles/2009/12/07/2764044.htm www.fwrgroup.com.au/10-environmental-problems.html www.ausstats.abs.gov.au/Ausstats/subscriber.nsf/0//46130_2010.pd

Constructing and Reconstructing Essay -- Constitution, Founding Father

1. Woody Holton reveals the motives of the Founding Fathers depend widely on individual judgment of the terms under the Articles of Confederation. Holton claims that historians excessively rely on sources by the Federalist which reveals a prejudiced Federalist view (Hollitz, 110). Woody Holton uses the writings of James Madison and Alexander Hamilton to expose the Founding Fathers deeper motives in writing the Constitution. The Founding Fathers were frustrated because state legislatures had been given in to popular demands to reduce taxes and increase the money supply (for relief from the recession). While citizens were behind on their taxes; states were unable to pay interest on bonds, which crippled the government operations (Hollitz, 91). The idea of Hamilton claiming that states suffered from an â€Å"extreme democracy†, the Founding Fathers establish a central government that was less responsive to the will of the popular support (Hollitz, 94). The Founding Fathers , Holton says, mistrusted the abilities of average citizens who made up much of America’s voting population, and believed that power should be left to the elites (Hollitz, 94). However, the â€Å"framers† also recognized that the Constitution did not address ordinary citizen’s concern, and it would need to be ratified by the 13 states. As Woody Holton explains, the Founding Fathers felt that the uneducated citizens had â€Å"driven the country toward economic recession†, proving that they do not â€Å"possessed the ability to govern themselves† (Hollitz, 94). Also, the Confederation demonstrates the dangers of democracy showing that common people should not have control over their government. 2. From Federalist No. 10, James Madison explains that a republic is a government i... ...litz, 306). African Americans found themselves separated from white society and segregated by class. Blacks were often educated in segregated schools and churches, punished in segregated prisons, nursed in segregated hospitals, and buried in segregated cemeteries (Hollitz, 306). African Americans were segregated and treated with inequality especially in their public life. African Americans in free states faced barriers with job opportunities and were limited to the protection of life, liberty, and property (Hollitz, 306). Republican Party refused to address social equality for African Americans and claims to be â€Å"white man’s party† and do not accept black equality. Woodward and Foner conclude Reconstruction laws proved the failure in American race policy for earlier generations and betrayed the hopes that African Americans had invested in the new governments.

Small Bussnes Ganha

Tourism accommodation business owners indicated factors such as maintaining lifestyle, being their own bosses, capitalizing on a business opportunity, generation of retirement income influence the decision to own/operate a small tourism accommodation businesses. These variables can be categorized as non-economic and economic factors. It was found that though the owners were motivated by commercial enterprise goals, these are subordinated to the pursuit of socially driven lifestyle motivation factors.Small tourism accommodation business owners in Ghana perceive the non- availability of skilled hospitality personnel and limited access to structured capitalist training programmed as the greatest challenge facing their industry. Key Words: Ghana, Small Tourism accommodation businesses, motivations, challenges INTRODUCTION Ghana has designated its tourism industry as one of the new growth sectors for economic development, employment generation and poverty reduction in its development fram ework document (growth and poverty reduction strategy (GAPS II, 2005).This development framework recognizes the tourism industry in Ghana as a growing, vibrant and dynamic one with a great potential for job creation. Ghana, like many sub-Sahara countries, has primarily an agrarian economy and produces few exportable services. Tourism has been identified as one area that can bring improvements in the services sector of the economy. In recent years there has been an expansion of investments in the tourism industry, especially the small tourism accommodation businesses sector.The total number of registered tourism accommodation businesses in Ghana as at 201 2 was 1,838. Compared to 420 and 1992. Of the 1838 hotel stock as at 2012, 69% can be classified as small tourism accommodation enterprises based on guestroom capacity of 15. Currently tourism is the fourth-largest foreign-exchange earner in Ghana after old and cocoa and foreign remittances. International tourist arrivals rose from 698,069 in 2008 to I in 201 1 with corresponding receipts from LOS$ 1. 4 Billion to CSS$ 2. Billion respectively, while direct and indirect jobs created by the sector increased from 234, 679 to 330, 514 during the period (GTAG, 2012). The government of Ghana acknowledges that accommodation businesses sector is an important part Of the Ghana tourism industry (NNTP, 1995) and has identified tourism accommodation businesses as catalysts for tourism development and by extension for the economic growth of the country as he industry is a major source of income and employment. The accommodation business sector in Ghana is 1 00 percent private sector owned and it characterized by many independent businesses.According to a recent survey, 69% of all tourism accommodation businesses in Ghana have less than 15 guestrooms and 88% of all tourism 2223-XX Copyright: 0 2014 AUGHT – Open Access- Online @ http//: accommodation businesses have less than 25 guestrooms and only 3 percent of these tourism accommodation businesses have more than 50 rooms (Mechanics, 2011; GET, 2012). The tourism accommodation businesses landscape fleets a large number of lower rated businesses, especially those in the budget category, 68%, which are typically small family owned and operated establishments.The rapid growth in the number of small tourism accommodation businesses in Ghana and the role they play in the promotion of tourism makes it imperative for a better understanding of the drivers in the sector. Interestingly, worldwide the tourism and hospitality industries are characterized by many small firms but generally, research in the tourism accommodation business sector has focused mostly on large tourism accommodation business chains. Invariably, not much research attention has been given to small independent especially those in developing countries such as Ghana.Although there is a growing body of high quality small business literature, much of it is general and few studies have foc used on small businesses (Thomas, 1998). Majority of research on small firms has focused on the personal attributes, motivations and practices of entrepreneurs and other economic and socio-demographic factors that affect small firms in general. It is generally acknowledged that sector differences play an important part in explaining the operations of small genuineness (Thomas, 1998) and the tourism accommodation business sector will benefit from such recognition with a sector focused research.Whiles many tourism accommodation businesses in Ghana can generally be classified as small firms, they have peculiar characteristics that need to be given an adequate amount of attention if we are to get a better understanding of how they operate. This paper examines the motivations and challenges of small tourism accommodation business owners in Ghana to get a better understanding of these factors. The outcome of the research will offer policy makers insights can influence their support aerogr amme for an efficient development of the tourism industry.LITERATURE REVIEW Defining Small Tourism accommodation businesses Morrison (1996) argues that traditionally the tourism industry has been dominated by small businesses and this still remains true. Globally, a common feature of businesses in the hospitality and tourism industry is that greater percentages, (95 percent), are small firms (See, Curran 1 996; Ashley and Rawson, 2006). This assertion holds in Ghana where 97 percent of all tourism firms are classified as small (NNTP, 2012).Small tourism accommodation businesses are a component of small tourism and capitalist firms, which can be classified as small businesses. However, what constitutes a small business is a major challenge in the SEEM (small and medium enterprises) literature (Curran & Storey, 1993). This is acknowledged by Morrison, (1996) who states that the term small businessmen is a difficult one to define. To date, there is no agreement in the literature about how small firms should be defined.The heterogeneity of small firms, their characteristics and global variety has led to it being defined in several ways. Storey (1994) concluded that there is no single, uniformly acceptable definition of a small firm. Several researchers have made significant efforts at defining small firms (See for example, Marked 1983; Gangly 1 985; Curran and Blackburn 1 991 ; GOES 1991; storey 1 994; Thomas 1 AAA, Addressed 1 999; Decker, Schaefer and Blander, 2006) but there is no consensus on these definitions. Existence of the numerous definitions of small firms has been attributed to the failure of most research to adequately identify the nature Of small firms leading to 2 various definitions being used in different research contexts. Storey (1994) is of the view that these various grounded define actions have been used according to he particular sector, geographic or other contexts in which the small firm is being examined. Curran et al. 1986:3) refer to th e â€Å"great deal of agonizing over the issue of definition by small businesses by researchers such as Bolton (1971 Banks and Cone (1983); and Curran and Stonewort (1 984), from which no satisfactory solutions have emerged†. One reason for such diverse definitions relates to size and sector differences of small firms. Definitions at sector level which relate quantitative measures Of size, such as number of employees, sales turnover, profitability and net worth, may mean that in some sectors all firms may be regarded as small, while in other sectors there are possibly no firms which are small.Burns (2001, p 8) argues, â€Å"being a small firm is not just about size defined in simple statistical terms and that small firms also have other important defining characteristics†. These need to be considered to have a full appreciation of a small firm. Existing literature on tourism and hospitality are not clear on definitions of small tourism and hospitality firm leading to v arious definitions being considered by various researches.Curran & Storey (1993) in making a case for defining small ours and hospitality firms differently, stated that though studies of small firms in the tourism and hospitality industry reflect a liberal usage of the term small firma to that found in the general small business literature it is important to highlight the principal features of these definitions as they affect tourism and hospitality firms. There is the opinion that service firms are better understood if their distinctiveness from manufacturing firms is recognized (Voss et al. 1988). The definition of small tourism and hospitality firms therefore must be informed by a consideration of what makes small tourism ND hospitality firms different from other small enterprises. The above notwithstanding, in developing a definition for small tourism and hospitality firms, which includes small (STABs), it is important that the definition be both comparable to other industries, while at the same time reflecting the unique characteristics of the tourism and hospitality industry (Morrison and Conway 2007).Beaver (2002) is of similar view and states that small firm definitions may need to incorporate the specific nature and context of respective industrial sectors if they are to be meaningful. Although defining small tourism and capitalist firms along tangible measures such as number of rooms and employees are essential, the intangible and qualitative features inherent in small firm ownership and management in general and at sector levels also needs some consideration if a meaningful definition is to be derived (Burns, 2001). Small Bussnes Ganha Tourism accommodation business owners indicated factors such as maintaining lifestyle, being their own bosses, capitalizing on a business opportunity, generation of retirement income influence the decision to own/operate a small tourism accommodation businesses. These variables can be categorized as non-economic and economic factors. It was found that though the owners were motivated by commercial enterprise goals, these are subordinated to the pursuit of socially driven lifestyle motivation factors.Small tourism accommodation business owners in Ghana perceive the non- availability of skilled hospitality personnel and limited access to structured capitalist training programmed as the greatest challenge facing their industry. Key Words: Ghana, Small Tourism accommodation businesses, motivations, challenges INTRODUCTION Ghana has designated its tourism industry as one of the new growth sectors for economic development, employment generation and poverty reduction in its development fram ework document (growth and poverty reduction strategy (GAPS II, 2005).This development framework recognizes the tourism industry in Ghana as a growing, vibrant and dynamic one with a great potential for job creation. Ghana, like many sub-Sahara countries, has primarily an agrarian economy and produces few exportable services. Tourism has been identified as one area that can bring improvements in the services sector of the economy. In recent years there has been an expansion of investments in the tourism industry, especially the small tourism accommodation businesses sector.The total number of registered tourism accommodation businesses in Ghana as at 201 2 was 1,838. Compared to 420 and 1992. Of the 1838 hotel stock as at 2012, 69% can be classified as small tourism accommodation enterprises based on guestroom capacity of 15. Currently tourism is the fourth-largest foreign-exchange earner in Ghana after old and cocoa and foreign remittances. International tourist arrivals rose from 698,069 in 2008 to 1 in 201 1 with corresponding receipts from ISIS 1. 4 Billion to CSS$ 2. Billion respectively, while direct and indirect jobs created by the sector increased from 234, 679 to 330, 514 during the period (GTAG, 2012). The government of Ghana acknowledges that accommodation businesses sector is an important part Of the Ghana tourism industry (NNTP, 1995) and has identified tourism accommodation businesses as catalysts for tourism development and by extension for the economic growth of the country as he industry is a major source of income and employment. The accommodation business sector in Ghana is 1 00 percent private sector owned and it characterized by many independent businesses.According to a recent survey, 69% of all tourism accommodation businesses in Ghana have less than 15 guestrooms and 88% of all tourism 2223-XX Copyright: 0 2014 AUGHT – Open Access- Online @ http//: accommodation businesses have less than 25 guestrooms and only 3 percent of these tourism accommodation businesses have more than 50 rooms (Mechanics, 2011; GET, 2012). The tourism accommodation businesses landscape fleets a large number of lower rated businesses, especially those in the budget category, 68%, which are typically small family owned and operated establishments.The rapid growth in the number of small tourism accommodation businesses in Ghana and the role they play in the promotion of tourism makes it imperative for a better understanding of the drivers in the sector. Interestingly, worldwide the tourism and hospitality industries are characterized by many small firms but generally, research in the tourism accommodation business sector has focused mostly on large tourism accommodation business chains. Invariably, not much research attention has been given to small independent especially those in developing countries such as Ghana.Although there is a growing body of high quality small business literature, much of it is general and few studies have foc used on small businesses (Thomas, 1998). Majority of research on small firms has focused on the personal attributes, motivations and practices of entrepreneurs and other economic and socio-demographic factors that affect small firms in general. It IS generally acknowledged that sector differences play an important part in explaining the operations of small genuineness (Thomas, 1 998) and the tourism accommodation business sector will benefit from such recognition with a sector focused research.Whiles many tourism accommodation businesses in Ghana can generally be classified as small firms, they have peculiar characteristics that need to be given an adequate amount of attention if we are to get a better understanding of how they operate. This paper examines the motivations and challenges of small tourism accommodation business owners in Ghana to get better understanding of these factors. The outcome of the research will offer policy makers insights can influence heir support programm ed for an efficient development of the tourism industry.LITERATURE REVIEW Defining Small Tourism accommodation businesses Morrison (1996) argues that traditionally the tourism industry has been dominated by small businesses and this still remains true. Globally, a common feature of businesses in the hospitality and tourism industry is that greater percentages, (95 percent), are small firms (See, Curran 1 996; Lassies and Rawson, 2006). This assertion holds in Ghana where 97 percent of all tourism firms are classified as small (NNTP, 2012).Small tourism accommodation businesses re a component of small tourism and hospitality firms, which can be classified as small businesses. However, what constitutes a small business is a major challenge in the SEEM (small and medium enterprises) literature (Curran & Storey, 1993). This is acknowledged by Morrison, (1996) who states that the term small business; is a difficult one to define. To date, there is no agreement in the literature about how small firms should be defined.The heterogeneity of small firms, their characteristics and global variety has led to it being defined in several ways. Storey (1994) concluded that there is no ingle, uniformly acceptable definition of a small firm. Several researchers have made significant efforts at defining small firms (See for example, Marked 1983; Gangly 1 985; Curran and Blackburn 1 991 ; GOES 1991; storey 1 994; Thomas 1 AAA, Addressed 1 999; Decker, Schaefer and Blander, 2006) but there is no consensus on these definitions. Existence of the numerous definitions of small firms has been attributed to the failure of most research to adequately identify the nature Of small firms leading to 2 various definitions being used in different research contexts. Storey (1994) is of the IEEE that these various groundedÃ'Å¡ define actions have been used according to the particular sector, geographic or other contexts in which the small firm is being examined. Curran et al. 1986:3) refer to t he â€Å"great deal of agonizing over the issue of definition by small businesses by researchers such as Bolton (1971 Banks and Cone (1983); and Curran and Stonewort (1 984), from which no satisfactory solutions have emerged†. One reason for such diverse definitions relates to size and sector differences of small firms. Definitions at sector level which relate quantitative measures Of size, such as number of employees, sales remover, profitability and net worth, may mean that in some sectors all firms may be regarded as small, while in other sectors there are possibly no firms which are small.Burns (2001, p 8) argues, â€Å"being a small firm is not just about size defined in simple statistical terms and that small firms also have other important defining characteristics†. These need to be considered to have a full appreciation of a small firm. Existing literature on tourism and hospitality are not clear on definitions of small tourism and hospitality firm leading to v arious definitions being considered by various researches.Curran & Storey (1993) in making a case for defining small tourism and hospitality firms differently, stated that though studies of small firms in the tourism and hospitality industry reflect a liberal usage of the term small firma to that found in the general small business literature it is important to highlight the principal features of these definitions as they affect tourism and hospitality firms. There is the opinion that service firms are better understood if their distinctiveness from manufacturing firms is recognized (Voss et al. 1988). The definition of small tourism and hospitality firms Hereford must be informed by a consideration of what makes small tourism and hospitality firms different from other small enterprises. The above notwithstanding, in developing a definition for small tourism and hospitality firms, which includes small (STABs), it is important that the definition be both comparable to other industrie s, while at the same time reflecting the unique characteristics of the tourism and hospitality industry (Morrison and Conway 2007).Beaver (2002) is of similar view and states that small firm definitions may need to incorporate the specific nature and context of respective industrial sectors if they are to be meaningful. Although defining small tourism and hospitality firms along tangible measures such as number of rooms and employees are essential, the intangible and qualitative features inherent in small firm ownership and management in general and at sector levels also needs some consideration if a meaningful definition is to be derived (Burns, 2001).Such intangible and qualitative features include lifestyle business motivations that have been identified in relation to micro and small-scale tourism firms (Locker and Morrison, 1999; Buick et al. , 2000; Get and Carlson, 2000; Kampala, 2004). From this perspective, qualitative social rewards may be priorities over those of a quantit atively defined economic nature (Appleton et al. , 2004). Thus, Morrison and Conway (2007) argue that any meaningful definition of small tourism and hospitality firms need the recognition, justification and combination of the associated quantifiable and qualified features.

Nurger King Project Including Pestel Analysis

Global service economy project Burger King Table of content: 1. Introduction 2. Presentation of the company 3. PESTEL analysis of the company 4. Poters 5 forces analysis 5. Resources Introduction In this project we would like to look from the insight of the Burger King Company and analyse the main factors which affects the progress and development of the organisation, as well as its business future. To accomplish a clear look-up on the company and undertake the analysis we are going to use the PESTEL model and Poter’s five forces model. A PESTEL analysis most commonly is used to measure a market.It can be used for marketing and business development and decision making. There are many factors that affect the decisions of managers of any company. To encourage proactive thinking and help analyse the organisation’s macro-environment managers use the PESTEL model, where PESTEL stands for: Political, Economic, Social, Technological, Environmental and Legal. Potter’ fiv e forces is a framework for industry analysis and business strategy development. It consists of five forces which affect a company’s ability to serve its customers and make profit.Potter’s five forces refer to: threat of new entrants, power of suppliers, power of consumers, threat of substitutes, competitive rivalry. Burger King Company Burger King is an international franchise organisation. It was founded in 1954 and with its signature recipes and family friendly dinning environment the company grew tremendously on the market and became one of the most famous restaurants for fast food in the world. Nowadays it is the second largest hamburger chain. Burger King suffered many changes during the years . It changed the owner of the company a couple of times .It also started a new way of advertising , which turned out to bring it very big success. First the adverticements were animated and were popular within the kids. The company also changed its slogan a couple of times and that is what makes it intresgting among the people. Later on in the history of Burger King was introduced the breakfast menu which became very popular and immediately turned out into hit. During the years the company kept improving by introdusing new sandwiches and advertisments where was always said that the customers are important for them .Eight years after establishing the first restaurant in the US , the company had 275 restarants more all around the country . Later was opened the first Burger King restaurant abroad – in Puerto Rico . This was the beginning of expanding and thinking globally. Nowadays Burger King have restaurants in many countries all around the world . It is the second most popular fast food chain , after McDonald‘s . People love it because of the unique way of preparing its sanwiches and the friendly autmosphere each of the restaurants has. PESTEL analysis of Burger King CompanyPolitical factors At widest the Political environment and factors refers to tax policies, environmental laws, trade restrictions and etc. and may also refer to goods and services which the government want to provide or not provide. In general the Burger King Company is not seriously affected by the political environment. It is only affected by the tax rate, which is different in every country. There were also debates in the Arabian world, regarding an offense to the Muslim religion through a kind of ice-cream the company provides.However, at the moment in Saudi Arabia is one of the biggest Burger King restaurants. Economic factors Economic factors include economic growth, interest rates, inflation and etc. Burger King is one of the biggest fast food chains as well as a fast growing franchise company. Since 1950’s first starting with one restaurant in Florida it has become world-known and nowadays it has more than 12,000 restaurants in 76 countries. Social factors Social factors refer to the population growth, age and demand. Burger King is a world-known company famous for its delicious fast food.There is high demand for warm, tasty and cheap food, no matter the age or gender. The company use only chicken or beef meat and for this reason the food is consumed even in the Muslim countries. Of course the demand will differ between countries with higher or less population. Technological factors Technological factors include innovations, marketing campaigns, automation and technological change. Burger King is fast growing company because of the innovations and marketing campaigns. It is famous logo is easily recognised by people of all ages.The company have tried a lot of different marketing campaign, changed its logo and it business strategies several times since it grew up outside the boarders of US. Environmental factors Environmental factors include ecological and environmental factors such as water, climate, pollution and etc. Burger King Company is trying methods which will not harm the environment and even will have positive impact on it. They have started a Burger King Going Green Session for their employees and member of supply chains. The company is also very concerned about recycling and reusing.On global level BK Company have chosen to purchase beef raised in environmentally responsible ways. Legal factors Legal factors include consumer, employee, and health and safety law As a condition of doing business within the BURGER KING Franchise system, every approved vendor must comply with the Code of Business Ethics and Conduct for Vendors. Burger King Company have partnered and received recognition from variety of organisations that share their dedication to be a good corporate citizen and improve the communities around the world. Poters five forces analysisThe Five forces analysis is a framework created to help understand the structure of an organization or company‘s position with respect to the forces operating in the microenvironment. It is also used to explain the competitor‘s performance on the market. The five forces are: Threat of new entrants Bargaining power of suppliers Bargaining power of customers Threat of substitute products Degree of competitive rivalry Threat of New entrants – Threat of new entrants refers to new companies entering the market and competing with the present ones.To become competitive Burger King Company is constantly introducing new trends on the market which are interesting for the people. However, the industry they are in is already overloaded with restaurants and fast food chains. The most important thing that keeps them popular still is their reputation of always tasty foods and the family friendly environment. The way they advertise themselves is also one of the major factors which helps them survive in the competition with other fast food chains and restaurants.Bargaining power of suppliers – If the buyer is powerful enough to negotiate the price than the profit will be reduced. Burger King knows that very well that‘s why they have fixed prices for every hamburger they offer and the prices are very affordable. It‘s rather cheap and that is what customers like. Burger King combines cheap prices with high quality hamburgers and fries and also family and kids friendly environment. Burger King restaurants always implement that kids are their most important customers and for this reason they do a lot to attract them.This is a wise move because if you attract the kids you will also attract their parents and their friends. The uniqueness that the supplier provide with his resources: The suppliers of Burger King know that they want only the best quality meat and potatoes. Burger King Company use only trusted products and everything they do has a fresh taste. But however if the recourse is essential to the buying firm and there is no close substitutes then suppliers might be at a powerful position. That way they can sell on a higher price.Burger King knows that perfectly well and a lways has more than just one supplier so that they can choose the better price and the better quality of the products they want. The power of the customer – The power of the customer in relation to The Burger King Company is increasingly dominated by a small number of large retail products. If a market situation in which the product or service of several sellers is sought by only one buyer. The Burger King Company seeks to push the prices down. Moreover, the powerful customers act under pressure to drive prices down.Determination of buyer power: They offer a great range of products. Furthermore buyers in the restaurant industry are said to have weaker power because of the highly individualistic nature of the industry. Foods are served for each person and are not bought in large volumes. Further, the levels of uniqueness of the industry’s meals and surrounding are another determinant of the buyer power, aside from the available money to be spent on food. Nonetheless, th e consumers will attempt to find best prices for a meal as well, and will settle for restaurants which offer promotions and price cuts.Fast food chains like McDonalds, Starbucks, Burger King, etc. are examples of these restaurants apart from catering to on-the-go people through drive thrust . For instance the company offer different size and kinds of sandwiches. The Burger King Company has great variety of menu as well. It is not limited only in sandwiches. That diversity of products and discount contribute to the bargaining power of buyers. Threat of the substitute products – The Burger King Company has a threat of substitute result in a new products and service competing closely with existing ones.First of all, they have differentiation and diversification strategies. Secondly, the company create switching costs to prevent loss of customers. The original is always better than the substitute and the customers might see that difference between products. It is a big risk to su bstitute the original and it might cost a lot . If there is a threat of a rival product that means that the firm will have to lower its prices and improve the quality of the product. We see this when we go to Burger King Restaurants. It‘s prices are lower than McDonald‘s for instance and the quality is better.They lower their prices because McDonald‘s is their biggest competition and the fight between them is big. That‘s why Burger King constantly changes the prices of their products to attract customers. So far they have been very successful with this method and they keep on expanding their chain of restaurants using that exact method. Degree of rivalry – Slow industry growth or decline makes competitors more desperate. For instance, when facing declining consumer interest in fast food, McDonald’s launched its 81 menu featuring the Big Tasty burger, which cost $ 1. 07 to make in some restaurants.This action, designed to wear out McDonaldâ€℠¢s chief rivals, Burger King and Wendy’s, squeezed industry wide margins. Finally, if there are only a small number of rivals led by a few dominant firms, no capacity is added incrementally, industry growth is strong and exit cost are reasonable. The degree of rivalry is likely to be moderate and industry profit more stable. Moreover, conditions opposite from those grant intense rivalry. Resources www. bk. com http://www. researchandmarkets. com/reports/564112/fast_food_global_industry_guid http://gwdocs. whopper. com/FDD/FDD_USA. pdf https://bkdelivers. com/#! menu John Tribe (2011)