Fast Food Essay Example for Free

Fast Food Essay Market and environmental analysis of McDonalds Corp – 2003. Market and environmental analysis is an essential part of an organization’s External Analysis. The main objectives of a market analysis are; a)To determine how attractive a market is. b)To understand the dynamics of the market and amend strategies accordingly. Here we apply the dimensions of a Market Analysis to McDonalds corp. 1)Emerging submarkets; McDonalds failed to recognize the changing trend in customer’s preferences to better tasting, fresher food. This trend led to new sub markets emerging for tastier, fresher and fast food perceived as healthier. A few of the smaller/privately owned competitors (Cosi and Quizno’s) were able to operate in niche markets selling gourmet sandwiches and salads. The emergence of smaller restaurants offering easy access to exotic foods such as sushi and burritos created a more specialized niche market. 2)Size and Growth; With the emergence of these sub-markets and niche markets, McDonalds started losing market share. It now had to share its fast-food mass market with these newly created markets. Even though these restaurant chains were small in size, their growth opportunities presented a potential threat to McDonalds. They operated on service that was better than McDonalds at the same time providing better tasting food, which led to an increase in its sales. This sector was in the early stages of growth where as McDonalds was past the maturity stage. 3)Profitability; McDonalds profitability can be gauged by using Porters 5 factor model. a)Intensity of competition among existing customers was relatively high. Direct competitors like Wendy’s and Chik-Fil-A were able to out perform. McDonalds based on service quality by providing quicker service. In comparison McDonalds had a large number of franchises, but will falling service time. b)Threat of new entrants: Other market niches like quizo’s, cosi and small restaurants offering exotic foods also provided a high degree of competition to McDonalds by offering food that appealed to changing customer preferences. The only barrier to entry that McDonalds used was to open a large number of franchises and offer an inexpensive menu; this is however changing as franchisees are leaving McDonalds, lowering the barriers to entry. c)Substitute products would include fast food options available in leading supermarkets, and cafe’s offering exotic foods like sushi. d)Bargaining power of customers. Customers are the main source of income for McDonalds. Customers were not happy with the menu offered at McDonalds and hence took their custom to other restaurants, leading to a drop in sales. e)Bargaining power of suppliers: McDonalds aimed to keep their menu prices low (source more details about suppliers) 4)Cost structure McDonalds strategic focus was on cost and service. In order to raise service quality new kitchens were installed. However, this installation was done for some franchises that did not need it and where the new additions did not help improve business. In order to keep the price of its burgers low, it asked the franchises to sell at a loss. Example: Promoting a $1 burger when the cost to make it was $1. 07. This lack in foresight resulted in rising costs to franchise owners who responded by leaving McDonalds and going over to competitors. This snowballed into falling investor confidence resulting in falling equity. Another cost issue was investing in too many takeovers which it couldn’t handle at the same time as improving service quality and revamping the menu. 5)Distribution Systems McDonalds distribution system was the large and growing number of franchises. However not many of the franchises were posting profits and as per Exhibit 1, more than 500 would have to be closed. One of McDonalds strengths is its distribution system, where in customers come in and have the same experience that they have at any other store. However, this can also be a weakness as providing a consistent experience soon becomes ordinary. 6)Market Trends. The fast food casual market was quickly breaking up into fragments. With the rising immigrant population customers now had a choice of items. McDonalds realize this too late and try to counter this effect by introducing new burgers. However, the testing of the new menu does not gauge strongly enough the changing customer preferences and this poor planning led to its failure. Internally changing trends were also blindsided. Franchisees who were the closest to customers were not included in decision making and were thus disgruntled. Here was the need to change the management style from top-down to bottom-up. This would have solved some of the issues plaguing McDonalds, by providing data on what customers want and what products would have a greater chance of success. 7)Key success Factors McDonalds did have some strengths or key success factors; a)Large number of franchises that led to economies of scale. This however contrasted to the ‘small is beautiful’ concept of the niche markets. b)Complete training for franchisees to begin and run their own McDonalds proved to be a good team building exercise. c)Cost of food was low due to economies of scale and economies of size. Moreover, McDonalds was able to negotiate a reasonable price for high quality food products. McDonalds failed to realize the changing trends in the casual fast food markets, as a result of which, a large part of the market share was taken over by existing brands like Wendy’s and new players like Panera bread co. The company also failed to acknowledge competition from the niche markets serving gourmet and exotic foods. This lack in analysis led to lowering of entry barriers for new entrants, loss of market share to competitors (Wendy’s, Chick-Fil-A. ), disgruntled franchisees, and a drop in sales leading to a fall in equity value. Environmental Analysis 1)Political: 2)Economic: 3)Socio-Cultural: There are three cultural forces that influence marketers: a) persistence of cultural values, b) subcultures and c) shifts in secondary cultural values. Of the three, secondary cultural values carry the largest influence on the fast-food market. When the market is interested in convenience, they are more likely to buy fast food; if the markets secondary values shift and become interested in fitness and health, they will be less likely to buy fast food. (Monash university, 2006) The case shows this shift to gourmet and healthier foods. 4)Technological: McDonalds had begun to notice the importance of technology. The organization was looking at new technological solutions like ERP to improve their supply chain (Newman, 2002) 5)Environmental: 6)Legal: References: Monash university, 2006, Briohny’s Report, Language and Learning Online, Retrieved on 06 May 2008. http://www. monash. edu. au/lls/llonline/writing/business-economics/marketing/3. 3. 2. xml Newman, K, 2002. McDonalds seeks closer electronic relations, iStart. com:Technology in business, www. istart. co. nz, retrieved on 06 May 2008. http://www. istart. co. nz/index/HM20/PC0/PVC197/EX245/AR22537.

Georges Clemenceau :: essays research papers

Georges Clemenceau Early Life: -Born on September 28th, 1841 in Vendee, France -Benjamin Clemenceau, his father, was a supporter of the 1848 revolution and was his son’s role model. -Georges grew up strongly believing in Republican views. Education: -Trained to be a doctor. -Not much else is known about his education and schooling. Achievements: -With a group of students, he wrote Le Travail. This was seized by the police and Georges spent 73 days in prison. -After he was released, he started to write a journal called Le Matin, but then he got in trouble with the authorities and was forced to stop. -After finishing his medical studies, he went to go and live and New York. -He was amazed by the amount of freedom that the people had, both politically and socially. -Worked as a teacher in Stanford, Connecticut -Eventually married one of his students and had three children. However, the marriage did not work out. -When he returned, he was elected as a Radical Republican deputy in the National Assembly. (1871) -Was re-elected to the National Assembly. (1876) -In 1902, he became a senator, and four years later, he was appointed minister of home affairs. -Became Frances Prime Minister. (1907-1910) -Under the presidency of Raymond Poincare, he was appointed Prime Minister for a second time. (1917-1920) -Was Minister of War in World War One. Major Accomplishments: -He voted against peace terms demanded by Germany in 1871. -Because of his aggressive debating style, Clemenceau was given the nickname of â€Å"the Tiger†. -He ruthlessly suppressed any popular strikes and demonstrations. As Prime Minister, he was marked by his hostility towards socialists. -During WW1, he clamped down on politicians calling for peace and punished them. -Insisted that the French Army lead the offensive against the German Army in 1918. -Pushed the war vigorously until the final victory.

Trends in Maritime Transport and Port Development in the Context of World Trade

Trends in Maritime Transport and Port Development in the Context of World Trade Carlos M. Gallegos 1. Structural changes in international trade and the evolution of maritime transport have a direct impact on port growth and expansion. Therefore, these elements and their recent characteristics must be examined, since they provide the frame of reference in which port reform in Latin America and the Caribbean has been carried out. These factors also determine future port development. A. Globalization, production, trade, and ports 2.Globalization, or the expansion of markets and hence of the economic prospects of societies, is taking place not only because of the supra-national nature of markets, but also because of the flow of foreign investment and the strategies of multinational enterprises. These multinationals today account for two-thirds of global exports of goods and services and nearly 10% of domestic sales worldwide. 3. In this environment of increasing interdependence in the wo rld, the international division of labor is changing as a result of structural changes in trade and unprecedented mobility of international capital.However, while the integration of goods and services and capital is progressing at a rapid pace, integration of the labor market is much slower. In addition, ever more sophisticated technologies are being disseminated, in a framework of spectacular streamlining in communications and telecommunications. The development of information technology has, in turn, boosted productivity and, in many cases, worker income. In general, electronic transactions and communications technology have been the necessary complement to full internalization and globalization and their major impact on production and world trade. . In mid-1999, developing countries began to recover from the 1997-1998 financial crisis in Asia, which had a severe impact on countries in Latin America. This recovery was spurred on in particular by growth in domestic demand in the Un ited States and other developed countries, low interest rates, and the Asian recovery. As a result, overall growth in gross domestic product (GDP) rose 3% (similar to growth in the developed countries). Countries are now back on the road to growth they embarked upon in 1993 that was interrupted in 1998. The global economy is projected to grow 3. % in 2000 (but only 3% in the developed countries). 5. In 1999, Latin America and the Caribbean recorded the worst economic indicators of the decade, due primarily to downturns in the Argentine and Brazilian economies. The region went into a recession (a drop on average of 0. 6% in GDP). The region’s estimated growth rate for 2000 is nearly 4%, spurred on particularly by sustained growth in recent months in Mexico, Central America, and the Caribbean. 6. The global economic recovery in the second half of 1999 was also reflected in the upturn in world trade. World commodity exports in 1999 were valued at US$5. 6 billion — up 3. 5 % from the previous year when a negative rate of 1. 6% was posted. Export volume also grew, however at a similar rate to the previous year’s growth of 4. 5%; and for the third consecutive year, the average price of commodities fell (excluding oil). 7. World trade in services rose 2% in 1999, after last year’s sluggishness, with exported services valued at US$1. 3 billion, and there was a moderate rise in the international price of those services. 8. The regions of the world and the individual countries responded with quite varied demand and growth in their product in 1999.The situation in Latin America and the Caribbean was rather unique. 9. With the 1999 recession, the volume of Latin American and Caribbean imports fell 2% on average. However, performance in the region varied greatly by country. Imports rose 15% in Mexico, but fell 12% in the rest of the region. Similarly, the region’s exports grew 7% in 1999, but in Mexico the figure was almost double (13. 7%) . We should recall that almost 90% of Mexico’s exports (85% of which are manufactured goods) are to the US market, compared to 30% of exports from the rest of Latin America (40% of which are manufactured goods). 0. Intra-regional trade was also affected and fell considerably. The MERCOSUR countries experienced a downturn of 25% and the countries in the Andean Community, 28%. 11. Regarding the importation of services, the slowdown that began in 1998 persisted, and in 1999 there was a 9% drop on average (a 9% increase in Mexico, but a 13% drop in the remaining countries). 12. The outlook for the volume of world trade in 2000 is better; it is expected to rise 6. 5%, which is higher than the average increase in world production.Trade indicators are expected to improve in Latin America and the Caribbean, because of higher oil prices, increased investment in the region, better commodity prices and, especially, a major recovery in exports in general. 13. Foreign trade has gained ext raordinary strength and importance in the development strategies for the Latin American and Caribbean economies. Its expansion and growth is the engine of their economic growth. This is expected to continue, and what’s more the export structure is expected to be geared towards manufactured goods with high value added.Since nearly 90% of trade in this region is shipped by sea, port development is of the utmost important. B. Characteristics of maritime transport 14. Below are some of the characteristics of maritime trade traffic for containers, liquid and dry bulk cargo, and tourism (US$3. 5 billion). 15. Despite the changing, adverse conditions in production and world trade mentioned above, transport of maritime trade continued to grow in 1999, but only by 1. 3% — a slower rate than in previous years (2. 2% in 1998 and 4. 1% in 1997). This was the lowest level recorded since 1987.The volume of world trade transported on the seas was over 5. 1 billion tons, a similar fig ure to the previous year. Growth estimates for 2000 are roughly 4%, similar to 1997. 16. Containers. Use of containers has been on the rise since their introduction in 1956, and this market has the best growth outlook in the sector. As a result, high-capacity ships have been built; today more than 60 have a capacity over 5,000 20-foot equivalent units (TEUs). Container traffic was an estimated 190 million TEUs in 1999; of that amount the Port of Singapore moved 15. million TEUs. Studies forecast 6% annual growth in container traffic through 2005, as a result of continued expansion of the use of containers by the shipping industry in developing countries; increased trade in manufactured goods and products with a higher value added; the trend towards globalization by multinational manufacturers; and growth of megaships and the resulting rise in feeder and ferry traffic. 17. Liquid cargo. A total of 2. 159 million tons of liquid cargo was loaded in 1999, with an annual rate of change o f less than 1. 3%.Oil continues to be the main component, accounting for nearly 70% (roughly 1. 5 billion tons annually), followed by liquid gas and petrochemicals. Double-hull 300,000 ton supertankers are used the most to transport crude oil between its main axes, i. e. Asia, the United States, and Europe. 18. Dry bulk cargo. Maritime transport of trade in dry bulk cargo includes most notably: iron ore, coal, grain, bauxite/aluminium oxide, and phosphates. In 1999, together they represented 1. 233 million tons with an annual rate of change of 2. 8%; 70,000-ton bulk carriers are also important in this type of traffic.Many shipping companies build panamax ships to measure with cranes to load and unload bulk cargo, which reduces transport costs. Bulk cargo is still the largest segment of maritime transport, representing almost one fourth of total freight loaded annually. 19. Tourism. The cruise ship industry had grown and received massive investments in recent years. It is estimated t hat over 7 million persons will take a cruise this year, a similar figure to last year, and the American market is the main consumer. Recently, high-tonnage ships have been built, such as the Royal Caribbean Voyager of the Seas, at 130,000 tons with he capacity to hold 3,115 passengers, inaugurated last November, and the Royal Caribbean Explorer of the Seas, which has the same characteristics and began service in October 2000. Regionally, the recipient markets are most notably the Caribbean and the new market in the Southern Cone. Ports are competing to attract these passenger ships and face the challenge of having the appropriate port infrastructure in place, as well as the complementary service facilities that passengers require, such as taxis, buses, guides, and shopping centers. This is certainly a growing market in every respect, but a very competitive, capital-intensive one.C. The shipping industry: characteristics and prospects 20. The main shipping lines in the world, such a s Maersk Sealand, Evergreen, P&O Nedlloyd, Hanjin, Cosco, and many others serve the most complex, profitable routes in the world, including some in Latin America and the Caribbean. 21. The 25 most powerful shipping lines control almost 60% of container transport capacity in world trade. In addition to growing concentration of container activity in the hands of the largest, most powerful shipping lines, there is an unrelenting process of consolidation and the forging of alliances among the main shipping lines.In other words, they are growing larger every day, but have also decided to work together. The two most powerful alliances that were recently renewed are the Great Alliance (among NYK, Hapag Lloyd of Germany, the Anglo-Dutch company P&O Nedlloyd, Orient Overseas Container Lines (OOCL) of China, and the Mediterranean Shipping Company (MSC)) and the New World Alliance (among Mitsui OSK Lines (MOL) of Japan, APL/Neptuno Orient Lines (NOL) of Malaysia, and Hundai Merchant Marine (HM M) of Korea) which have focused primarily on reorganizing the main trade routes.The sphere of action of these alliances is broader, involving a global strategy and ground services. This raises questions about the ability of certain container port terminals to survive and particularly about whether or not the conditions for perfect competition are present in these markets. 22. Another characteristic of this industry is the production and servicing of mega container vessels. The number and size of postpanamax container vessels will continue to grow, which will increase the transport of containers, reduce stops in the main routes, and therefore increase the services of feeder ships.Ship capacity will continue to rise, and ports will have to adjust to their size. In 1999, over 120 postpanamax ships were operating. Maersk has ships that can transport nearly 7,000 TEUs (K and S classes) and 8,000-TEU ships are due out soon. Germanischer Lloyd is planning to operate a mega container ship o f 15,000 TEUs by 2010, when the volume of container trade is expected to be double the current figure (roughly 200 million TEUs). The ship would cover the East-West route and feed ships of 4,000 and 5,000 TEUs.This would reduce the number of port movements, but requires ports with enormous capacity. 23. Changes in container terminal operators. With the expansion of the container industry, the structure and organization of terminal operations have changed. Today there are three categories of container terminal operators: (i) port authorities that have decided to become directly involved in handling containers, such as the public ports of Singapore and the Virginia Port Authority or the private ports of Felixtowe or Freeport.However, this category has been on the decline with the emergence of port corporations; (ii) private port terminal operating companies involved in a process of concentration, including stevedoring. The 15 main operators have expanded their activities outside of th eir ports of origin, associating themselves with large stevedoring groups (e. g. PSA Corporation, Hutchinson, ECT, P&O Ports, and SSA); and (iii) the shipping lines that have decided to control and manage their own container terminals. This decision was made for two main reasons.The first was for strategic reasons, because these global transporters are involved in hub and transshipment ports and therefore need to control their operations, including docking priority and guaranteed availability of equipment for use. The second was to reduce costs, i. e. for savings, based on economies of scale and better control of terminal expenses. 24. The provision of port-to-port logistical services. As shipping lines (e. g. Maersk Logistics, Evergreen American Corporation) participate in ogistical service solutions, they absorb them or forge associations with these intermodal service providers to ensure consistent, regular service, meeting the client’s demands through the port-to-port supp ly chain. This range of logistical services, which includes the consolidation of containers, documentation services, and storage and distribution, will continue to expand and improve every day and will have a greater impact on reducing costs and enhancing efficiency. 25. Information and communications technology and electronic commerce.Port services will step up their use of computerized systems and information technology, such as the Electronic Data Interchange (EDI) system and the Internet. The increase in transport capacity will require immediate data on the exact location and status of cargo, as well as on all logistical and institutional aspects of port operations. In light of these requirements, all port and shipping industry sectors will continue to invest in new systems and channels of communication.The industry will be moving towards a paperless world in which all types of information are handled electronically. 26. Use of the Internet for electronic commerce is also import ant. That industry has shown impressive growth of 68% in the last year. This mode of commerce is affecting how the transport industry does business, and theories abound regarding its impact on the maritime port industry. Internet commerce was one of the topics discussed at the WTO negotiations, and the issue of taxes on e-commerce is still under study. 27.These characteristics and trends in the shipping industry are the result of the development of the world economy and globalization, resulting in demand for new standards of efficiency for maritime transport and creating new challenges for the world’s ports. D. Economic reforms and trade challenges for ports in the region 28. Macroeconomic reforms. The region has undertaken a series of macroeconomic reforms that prioritize export promotion, putting aside import substitution, which has been considered detrimental since the 1970s. 29.Important tariff reforms have been adopted that include marked drops in tariffs on finished pro ducts, and even lower levels for inputs for exportation; the adoption of fewer tariff tiers, with a single flat tariff; and the establishment of a positive, effective protection mechanism. This promotes the generation of value added, instead of punishing it. In terms of exchange rates, the various fixed exchange rates were eliminated, which were arbitrary and ignored market criteria. Real exchange rates govern currency exchange today.Tax reform has also been tackled, but not with the necessary vigor. Domestic taxes on income, assets, use, or value added are now contributing more to national public treasuries, replacing taxes on foreign trade as the main source of revenue. There is still a long road ahead for tax reform in most countries. Attracting foreign capital is another important element on the list of reforms that have sped up the growth of our economies, by helping external resources to complement low domestic savings and finance projects in new productive sectors.State refor ms complete the picture; they are an effort to redirect state leadership in the economic development process, where the state goes from being a major player, monopolist, and executor of economic activity to playing the role of a regulatory, control body that works with the private sector. State reforms also include the privatization of public agencies (ports have been in the forefront here) and other public institutions, such as customs. 30. Almost all governments in the region have made a major effort to move forward with economic liberalization, trade opening, and export promotion, allowing for major growth in the 1990s.Nonetheless the imbalance in wealth distribution, the inability of large segments of the population to overcome extreme poverty, and the still weak reforms of institutions and some branches of government are disturbing, destabilizing elements that are reflected in the serious economic malaise that many countries in the region are experiencing today. 31. FTAA 2005. The heads of government of the Hemisphere agreed at the Summits of Miami (1994) and Santiago (1998) to promote the Free Trade Area of the Americas (FTAA), in order to form a broad market stretching from Alaska to Tierra del Fuego that would be the largest international consumer arket, with 800 million inhabitants. Negotiations on customs rebates are geared towards complying with this date, and this mechanism is expected to substantially increase inter-American trade, thus intensifying the flow of hemispheric port traffic. 32. European Union. The policy of strengthening trade relations, particularly between South America and Europe, has been gaining major momentum; for example, trade negotiations with MERCOSUR are being promoted. Other plans, such as the free trade agreement between Mexico and Europe, confirm the trend towards increased trade between these two regions in the medium term. 33.Subregional integration systems. Another factor that has accelerated the flow of trade is the existence of several subregional integration systems, such as the Andean Community of Nations (CAN), MERCOSUR, the Central American Common Market (CACM), or the Caribbean Community (CARICOM). They must speed up subregional trade, but must also support the formation of the FTAA and facilitate the standardization of different trade policies. All of this will translate into increased movement in maritime and hemispheric port traffic. It is noteworthy that, at the Andean level, over 50% of commodities were shipped by sea in 1999. 4. Strengthening international trade negotiations. The World Trade Organization (WTO) tried unsuccessfully to promote a new round of trade negotiations at its Third Ministerial Conference in Seattle in November 1999. The proposed work program for the next five years consisted in negotiations on liberalizing trade in agricultural products, services, food security, electronic commerce, and other topics. Even though the differences of the developing and developed countries could not be bridged, important progress was made, indicating that a new round could be launched soon.The developed and developing countries also gave clear signs of their intent to continue with a policy of trade opening and economic liberalization, and there are no signs of a rebirth of protectionism. These indicators strengthen the foundation for the future growth and expansion of world trade. 35. Customs facilitating trade. Similarly, the World Customs Organization (WCO) is making progress in technical areas that facilitate trade, which favors the expansion of world trade in the short and medium terms.Significant progress has been made towards adopting revised standards on the origin of traded goods; the new and revised version of the Convention on Simplification and Harmonization of Customs Procedures (â€Å"Kyoto Convention†); standards for applying the Code to assess the value of goods in customs according to transaction value criteria; the ongoing amendments under the Harmonized Commodity Description and Coding System; and the application of new information and communications technology.All these customs instruments are essential complements for facilitating and expanding trade in our countries. E. Port actions for port development 36. Port reforms. The port sector in the region has exhibited change, but in different ways and to different degrees in each country. Generally speaking, the sector has been regulated and national port policies set, which in many cases had been absent. State monopolies in port operation and administration have been revised, by either totally or partially decentralizing port activity to local governments and/or granting the private sector concessions.Labor constraints have been overcome, and port authorities have therefore been playing a different role. This new environment is reflected in the revision of port tariffs, seeking to develop a more efficient, more flexible port system that is swifter, safer, and cheaper. The experts attending this event will more clearly and objectively illustrate how port systems operate in different countries in the Hemisphere. 37.I would like to reaffirm that, port reforms must be sped up for greater port efficiency and competitiveness, particularly in countries that have not yet done so, regardless of the ownership model the governments decide to adopt, since international trade will not wait, and the countries’ growth and development can not be put off because of undefined policy. Delaying this reform will only result in higher social costs in the medium term. While it is important to define a port system — be it public, private, or a combination of the two — it is essential to have the means and facilities or achieving levels of efficiency to be able to adapt to the requirements of world trade and compete successfully. Landlord ports are the most common arrangements in the region. That is where port authorities cease to serve as p ort operator, provide the necessary infrastructure, and grant concessions to the private sector to operate complementary services and terminals. Generally, in this situation, the central government grants financing to the sector, such as direct subsidies and credit guarantees. In general, this model promotes higher-quality service delivery. 38.The impact of ports on promoting national economic development. This is another consideration that I would like to reiterate, with a few examples of what is being done in other developing countries that have made progress in port reform. These countries have concessionaires and private terminal operators and have been adversely affected by the various financial crises. Their development strategy also depends heavily on exports. However, strategic development plans and specific recommendations are in place to strengthen the role of the port sector to ensure significant recovery of the national economy.They include: (i) operators reviewing their operating costs to eliminate unnecessary expenditures; (ii) enhancing the efficiency and productivity of port operations, particularly by shortening the time needed for container movement by crane or using more cranes for ships with higher cargo volume and employing information and communications technology in daily operations, bearing in mind the growing volume of cargo being moved and the corresponding volume of communications that must be executed; (iii) conducting more aggressive marketing campaigns to raise the volume of cargo sent directly from the country’s ports to its final destination; (iv) implementing infrastructure projects aimed at raising port capacity in the medium term; (v) conducting equipment and port facility maintenance campaigns to continue to ensure efficient operations; and (vi) continually revising the role of port authorities to cover changes in the market. In light of these reforms, their role is focused on planning and regulating port activity, fa cilitating the transport chain, controlling and supervising the activities of private enterprises by developing information systems, and promoting and working with the port community and foreign and international institutions. 39.Take into account trends and developments in the maritime industry and port operators in order to adjust port development strategies to the world challenges of this century. (i) Global port operators will continue to expand to new geographic areas and will maximize the use of technology to create worldwide port networks that can offer consistent levels of services and modes of operation. More alliances will be forged among port terminal operators to promote economies of scale and use of global capacity. (ii) Since capital investments will be high, only the most powerful enterprises with significant financial resources will remain in these alliances. iii) Port facilities will acquire new and better standards and advanced technology in order to serve mega shi ps. (iv) Container storage capacity must be improved through new systems and new facility designs. (v) There will be significant investment in communications and information technology for a world run electronically. 40. Finally, partnership for development. This mechanism will be crucial for the future of regional port activity, given the urgent need for information exchanges for decision-making in port operations on shipping companies and port operators, as well as on producing projects to be implemented jointly and meeting market requirements in general. Bilateral and multilateral cooperation must increase.The Organization of American States (OAS) has an Inter-American Committee on Ports (CIP) which serves as a forum for dialogue for the governments of all countries in the Americas and the port authorities, but also for port operators, shipping lines, and commercial, industrial, financial, academic, and scientific entities. Use of this mechanism is an effective, low-cost option f or strengthening hemispheric cooperation among ports in the Americas and contributing to their development. Port forums, such as those offered by the Andean Committee of Water Transport Authorities (CAATA) and the Association of Caribbean States (ACS), among others, work along the same lines for cooperation and to achieve port efficiency, which our government authorities must use to the fullest. 41. Conclusion. Ladies and gentlemen, my goal has been to provide you with up-to-date information on the ever-changing world of ports.What we are seeing in the world’s ports today we could never have envisioned 25 years ago, like 8,000-TEU megaships or ports with great capacity to move containers, such as the Port of Hong Kong with 16. 2 million TEUs per year. However, we often consider 25-year blocks in long-term investments in the maritime port industry. Changes in the industry in the next quarter of a century will be even more dizzying and spectacular, and our ports will have to ad apt. 42. In this globalized world and in our corner of the world where 90% of our trade goes through ports, it is the responsibility of the governments, operators, shipping companies, service providers, and workers to work together to support the development of both our ports and our economies. Let’s forge an efficient, competitive inter-American alliance for the future of our ports! CIP00106E

The Complex Subject of Minimum Wage in Our Economy

The legally established minimum wage is a complex aspect of our economy. On the surface, the idea is simple: the minimum wage fixes the minimum hourly amount an employer must pay his employee. But at a deeper level, calculating the economic impact of a minimum wage is a challenging task full of projections and speculations, and with this uncertainty comes contentious political debate. Economic liberals argue that the minimum wage should be aggressively raised, while conservatives argue that it should remain at its current state. Ultimately, a combination of historical evidence, economic analysis, and an understanding of psychology suggest that we should not raise the minimum wage. The minimum wage makes low-skill work less affordable to employers, meaning that fewer people can be hired. Since work experience is a vital part of building a successful career, this means that fewer people will have the opportunity to move up the economic ladder. Rather than institute a simple, short-term minimum wage increase, extensive training programs should be implemented to help give low-skill workers real-world knowledge and skills. Likewise, employers should be granted tax incentives for hiring more employees. The minimum wage has had an effect upon our economy for over 75 years. When the Fair Labor Standards Act was signed into law by President Franklin Delano Roosevelt in 1938, it set a federal minimum wage, stipulations for overtime, and minimum working conditions for child laborShow MoreRelatedMinimum Wage in the United States1244 Words   |  5 Pagesthe combined minimum wage, the centerpiece proposition at the State of the Coalition address that concentrated on commercial inequality in America. Pointing out that the present minimum of $7.25 is nearly 20% lower in real paying manipulation than it was 25 years ago, he impelled legislators to prop a bill that should hold the nationwide rate to $10.10. We additionally have to do extra to safeguard our economy distinctions the dignity of work and that hard work pays off for all of our citizens. AmericansRead MoreFlat Tax Essay1328 Words   |  6 PagesFlat Tax Our current income tax system today is very complex, unfair, inhibits saving, investment and job creation, imposes a heavy burden on families, and weakens the integrity of the democratic process. It cant be fixed and must be replaced. The U.S. income tax code is a long and complex system. The income tax system is so complex; the IRS publishes 480 tax forms and 280 forms to explain the 480 forms. The IRS sends out eight billion pages of forms and instructions each year. TheRead MoreHomelessness Is The Growing Number Of The Biggest And Most Complex Issues Facing The United States2606 Words   |  11 Pagesthe biggest and most complex issues facing the United States right now is the growing number of homelessness. There are so many people from so many different backgrounds and demographics that it is a truly overwhelming task to keep track. Most of them will go without the base level of needs for a human, including food, clean water, and shelter. In almost every case, with hom elessness comes poverty. Dreisbach (2013) says, homelessness in America is a persistent, complex, and widely-occurringRead MoreImpact Of Globalization On The Global Age1616 Words   |  7 PagesGlobalization is an ongoing process which involves increasing ease of movement of people, things, information, and places in the global age. Globalization is complex, yet it includes almost â€Å"everyone, everything, and every place, in innumerable ways† (Ritzer, 2011:12). Globalization has connected the world and as a result has connected an interdepended world, where countries are integrated more than ever. Thus, a significant outcome of globalization is the development and use of Multinational companiesRead MoreIncome Guarantee Schemes And The Developed Countries3248 Words   |  13 PagesThe second half part discusses the significance of minimum wage policy and some its influences on several issues. At the last of the paper, I present my own opinions on issues of income guara ntee schemes. I. Introduction Employment is a popular topic in global economy. After the economic crisis of 2008, the situation of economy recovers slowly. Most developed countries were affected by the crisis and there were incredible amount of losses in economy. The high unemployment rate reflected a tense atmosphereRead MoreLow Income And Lower Class Families Struggle With Providing Their Children1660 Words   |  7 Pagesend of priorities. It can be hard for a lower class person to get an education because of all of the hardships that come along with it, but some prevail through all of that hardship and come out on top. The educational system can easily be defined by our social rankings; such a ranking can cause many to receive incomplete learnings, and allow them to fall through the cracks of society. Many teachers in the lower class spectrum of society aren’t giving the necessary education to the children for themRead MoreExplain Different Types of Business Information, Their Sources and Purposes1711 Words   |  7 Pagesallows for verbal and non-verbal messages. The advantage of using verbal information is its easier to communicate verbally than any other way because you get to understand every detail that is being spoken by the other person and speech enables complex ideas to be expressed and discussed. Some people find talking is the most comfortable method of expression. For example, Drayton Manor communicates with their staff verbally at a staff meeting about the new plans for the business and the changes thatRead MoreThe Furious Five Of Econometrics2103 Words   |  9 Pagesluxury of conducting experiments in laboratories under suitably calibrated environments to discern causal relationships between different variables. Cause of effect relationships of policies and human behaviour in different societies and economies are often vastly complex and int ertwined. Large-scale social experiments involving people are, in general, infeasible to conduct due to budgetary, logistical and ethical reasons. Therefore, economists look to applied statistics and adopt different approachesRead More Outsourcing American Jobs Essay1630 Words   |  7 Pagesthat were held in this country going somewhere else. That is not entirely accurate. Outsourcing is actually one company paying another to do some work for it. Outsourcing can be as simple as paying a company to paint your building. Or it can be as complex as paying a company to control your human resources department. When you think of outsourcing it is probably more accurate to think of it not as peoples jobs that are going somewhere else but as a job, as in something that needs to be done,Read More`` Deculturalization And Struggle For Equality `` By Joel Spring1110 Words   |  5 Pages Blacks and Asians were each subject to systematic oppression in regards to racial formation, deculturalization, segregation and nation building. These dominated groups share the struggle of equality in this nation where â€Å"All men are equal† brought upon them by educational policies contrary to their socioeconomic interest and appealing to Euro-Americans. Racial formation is a vast sum of signifying actions and social structures that clash in the creation of complex relationships and identities