Market Structure of Tourism in Australia-Free-Samples for Students

Question: Discuss about the Market Structure of Tourism in Australia. Answer: Introduction Market is a place where there are buyers and sellers dealing in economic or financial transaction at particular place in a point in time. These transactions depend on the economic variables like demand, supply, production, investments, consumption, purchasing power capacity, and income elasticity (Bianchi, Pike and Lings 2014). On addition, an economic transaction when carried out efficiently the economy is stable. Standard quality in the business encourages more number of consumers, increase in consumers leads to more demand for the services one is getting. There will be more supply of the services in order to attain customers wants. This creates more production leading to increase in the investments and income of the seller. As a result, business earns profit. When business earns good profit, it decides to expand its line of productions across the country in order to increase the investment and to create good economic growth. Tourism industry achieved success domestically as well as globally. When there are different types of market structure like monopoly, duopoly, perfect competition, and oligopoly. The tourism organization connects to 16 business industries that attract large customers of different types. Growth of the economy depends on the line and chain of production (Dolnicar, Lazarevski and Yanamandram 2013). Referring to the topic, the purpose of the report is to discuss the market structure of tourism in Australia from last 5 years. Travel and tourist industry play a key role in influencing the market growth as well the countrys economy.travel industry contributed 3.0 percent of net production to the countrys economy in the year 2014 (Duval 2013). Australia indulges in customer-oriented market and developments in the industry sector that acts as a strong positive impact on the growth of the travel market and economy. Good investments in this industry can create job opportunities, more encouragement to the business and startups leads to increase in scale of production. Innovation and modern technology creates healthy global relations, export sector, and good competition spirit (Dwyer 2015). They created different ways of expanding their businesses in order to maximize sales and output. The motive of tourism industry is to increase in its investment sector by expanding the line of production and business across the globe. The report also draws the strength and weakness and the possible threats of the industry. It also gives innovative and creative ways to increase the demand and encouragement in the growth of tourism industry. Additionally, there is brief summary on the impact of various economic, environmental, technological, social factors on the industry. Market structure of tourism industry in Australia Market structure and types of market structure a market is made of buyers and sellers who are engaged in economic exchange of goods and services with a motive to earn income. They exchange goods and services at a fixed place called market (Forsyth et al. 2014). A buyer is a customer or a consumer who purchases commodity and a seller is a person who sells product with a motive to earn income. The performance of the economy depends on the economic transactions and the economic variables like demand supply, production, cost, investment, quality of resources (Gretzel et al. 2015). Good quality service will create more demand for consumption due to which supply also increases. When demand and supply balances the economy said to be in equilibrium, means there is stability in the performance of the economy A tourism market is a place of business where a customer comes to purchase tickets to travel at respective places may be for personal outings or for business purpose (Hall, Gossling and Scott 2015). There are different types of market structure like monopoly, duopoly and oligopoly. Monopoly - This type of market includes only one seller operating the entire business. Seller is the sole earner (Hallak, Brown and Lindsay 2012). There is no competition therefore seller charges high and different prices to different customers. There are great restrict for the new entrants in this type of market. Therefore, monopoly in tourism market affects in both ways means single seller can rule the entire market whereas, in case of excess demand of consumers cannot fulfilled by only seller. If demand not met, then there will not be sales leading to decline in the purchasing power, due to which income also declines. On the other side, a seller alone can influence the entire industry. There is no competitor in this kind of market, no threat of new entrant or rivalry. Duopoly- It refers to two sellers two firms producing profit on the selling of different products. There is a tough competition between both the firms (Huang, Weiler and Assaker 2015). There is dependency on each other as both have an individual aim to earn maximum profit by keeping joint venture relation. Duopoly market leads more competition and encouragement to business and customers. Price discrimination or price charging may be a big factor of concern in this market. Oligopoly- There is large numbers of buyers and seller selling their products by competing with their rival firms in terms of customers, product quality, and scale of production (Lee, Hallak and Sardeshmukh 2016). Production and selling depends only advertisement factor. There is complete awareness of the rival firms actions and outcomes. With this kind of market structure, there can be huge line of production with large customers and sellers (Layton 2015). There will not be any kind of uniformity because the scale of production is large. There will be more competition, due to which to make continuity in the growth rate, industry should create modern approaches, attractive plans and policies leading to more number of customers. Impact of tourism industry from last five years In the year 2014, the gross domestic product of 3.0 percent created a robust impact on the growth in the economy (Law 2015). For many years, it maintained the good position and stability in the economy globally. There is a research program of tourism department named as tourism research Australia which is established with an aim to identify the performance structure of the tourism industry. Various factors influence the tourism industry is economic, environmental, social, technological, political and legal factors. Social factors also influences greatly to the tourism industry, as this is consumer-oriented market (Mao and Zhang 2014). Preferences, needs, demand of different consumers, their income and the living standards largely reflect the social factor. Technology factor leads to use of modern technology and good resources can attract more customers. This factor depends largely on consumer demand and choices. Standard demands encourages for better services and quality products (Morrison 2013). It also affects the industry position, with good customer services; it opens doors for more buyers, leads to good image for the industry (Pham et al. 2015). Consumer always gives first priority to the quality of the product or services, and though it is largely dependent on consumer, therefore consumer satisfaction will create more output. Environmental factor is one of the important factors in tourism industry. Impact of weather condition will vary the demand for the customers (Ruhanen, Whitford and McLennan 2015). Good weather will create more demand for travelling while bad weather will led to decline in the demand factor. If there are weather imbalances, then there will be problem in economic activity of this industry as no demand will lead to low sales and production will decline (Song, Dwyer and Cao 2012). Due to natural calamities also, there can be low growth in the industry. With changing weather seasons demand of consumer changes and uncertainties in natural calamities possess a threat to the industry. Due to low demand, the sales also went down. Legal and political factor states that with political stability there can be good global relation with the trading partners. Political instability creates problems in the business stability (Thomas 2013). A peaceful negotiation leads to more encouragement to job opportunities, export sector. To increase scale of production, there should be good global relations and this can happen only when there are good government facilities. There must be new plans and policies for the betterment of the industry in order to maintain certain legal standards of the business. Business standards encourage for more consumers and proper legal rules helps to maintain business reputation (Tribe 2015). Overall, there was a good growth and contribution of the tourism sector in the economy as well as in the country. Not only domestic relations but also global trade relations showed a positive impact on the economy and the gross domestic product. Economic impact on tourism industry With reference to economic factor, then tourism sector is one such industry that is always in great demand. Whether it is business travel or else is personal and family travel, this business always gets customers. It also deals with the important global issues and trade agreements with partner countries. The tourism research report gives the analysis about the market performances, the demand and supply rate and the various ways for new policies and plans to promote the growth of the industry. Due to global recession held in the year 2008, the market affected severely. Global recession affected the purchasing power of the consumer as tourism market based on consumer spending only. Recession affected the economic activities due to which consumers were not able to spend their money as a result investment sector declined, led the consumption level also down. In 2015, Australia captured nearly 2,73,000 businesses that means nearly 12 to 13 percent business which shows the growth and scale of production capacity of the country. In 2016, the rate of travelers was 8 percent. The success of Australia globally led the beginning to increase capital through it is newly setup tourism campaign. The reason behind the success of the industry is the hard work and passion of state tourism department, Australian tourist department and the global territory. The previous trading countries were Europe, United States of America and United Kingdom that rose to many more countries in recent years (Vila, Darcy and Gonzlez 2015). Those are Japan, china, Singapore and Malaysia. The tourism department is planning to establish its network in the remaining countries as well. This happened because of innovative approaches and latest technology with being consumer friendly. The aim of this industry is to increase the investment pattern and to fulfill the demands of their customers. They reach out to their customers through electronic means of communication and advertisements in order to create sales and more expansion of their business. There are various tourist partners that are aviation sector, business, sector, airlines, distributing partners, non-travel industry, state and territory industry. Aviation sector includes Cooperation of relation between the aviation industry and the tourist department. There should be demand for the new routes and more flights. Bilateral restrictions should be less for the investment and immigration purposes. Collaborating with Business sector includes more encouragement to the Australia tourism industry for more profit and customers. In case of airlines, tourism sector includes 20-airline partner across the globe, few among them are china southern airlines, air china. It has a long-term goal setup with these 20 airlines for structured business growth with a spirit of mutual healthy cooperation. A global relation creates more investments strategies. Tourism industry collaborated with 160 key distributing partners with an aim to create a perfect market strategy using economic variables like retailer, wholesaler, customer, commitment to fulfill the desired set target. Tourism industry also relates with non-travel industry like Samsung, Sony. In the year 2015, it entered into a partnership with visa cross border campaign for increasing international holiday packages for the customers. Lastly, joining hands with state and territory industry will help to maintain regional and territory stability in the industry and across the globe Conclusion Tourism industry of Australia earned a strong profit and growth in the country as well as globally. Defining the market structure of tourism industry of Australia then it has made a strong position globally by using updated technology, electronic mode of communication. Use of electronic mode of communication it created more and more customers. With the use of advertisements, it created robust sales growth that led increment of the investments pattern. On addition with good government and legal factors, it maintained stability with its trading partners. Robust sales growth and fulfilling the required demands of the consumer mark the success of the Australia tourism industry worldwide. There was a good rate of growth in the production of the business that also created an increase in the gross domestic product of the country. It is a consumer-based market therefore with standard in quality and proper on time services without any delay created huge success and profit. It has established well with few trading partner among few countries, further planning to expand and connect with the rest of the world. Tourism industry is always encouraging and demanding as it leads to travelling, therefore customer satisfaction is the important factor in it. As Australia is planning to expand in Indonesia and the other parts of the world, it will give more success and profit to the business. Therefore, in sum Australia tourism industry had a strong and positive impact on the world economy. References Bianchi, C., Pike, S. and Lings, I., 2014. Investigating attitudes towards three South American destinations in an emerging long haul market using a model of consumer-based brand equity (CBBE).Tourism Management,42, pp.215-223. Dolnicar, S., Lazarevski, K. and Yanamandram, V., 2013. Quality of life and tourism: A conceptual framework and novel segmentation base.Journal of Business Research,66(6), pp.724-729. Duval, D.T., 2013. Critical issues in air transport and tourism.Tourism Geographies,15(3), pp.494-510. Dwyer, L., 2015. Computable general equilibrium modelling: an important tool for tourism policy analysis.Tourism and Hospitality Management,21(2), pp.111-126. Forsyth, P., Dwyer, L., Spurr, R. and Pham, T., 2014. The impacts of Australia's departure tax: Tourism versus the economy?.Tourism Management,40, pp.126-136. Gretzel, U., Sigala, M., Xiang, Z. and Koo, C., 2015. Smart tourism: foundations and developments.Electronic Markets,25(3), pp.179-188. Hall, C.M., Gossling, S. and Scott, D. eds., 2015.The Routledge handbook of tourism and sustainability. Routledge. Hallak, R., Brown, G. and Lindsay, N.J., 2012. The Place IdentityPerformance relationship among tourism entrepreneurs: A structural equation modelling analysis.Tourism Management,33(1), pp.143-154. Huang, S., Weiler, B. and Assaker, G., 2015. Effects of interpretive guiding outcomes on tourist satisfaction and behavioral intention.Journal of Travel Research,54(3), pp.344-358. Lee, C., Hallak, R. and Sardeshmukh, S.R., 2016. Innovation, entrepreneurship, and restaurant performance: a higher-order structural model.Tourism Management,53, pp.215-228. Layton, R.A., 2015. Formation, growth, and adaptive change in marketing systems.Journal of Macromarketing,35(3), pp.302-319. Law, R., 2015. The contributions of economics to hospitality literature: A content analysis of hospitality and tourism journals.International Journal of Hospitality Management,44, pp.99-110. Mao, I.Y. and Zhang, H.Q., 2014. Structural relationships among destination preference, satisfaction Mohammed, I., Guillet, B.D. and and loyalty in Chinese tourists to Australia.International Journal of Tourism Research,16(2), pp.201-208. Morrison, A.M., 2013.Marketing and managing tourism destinations. Routledge Pham, T., Jago, L., Spurr, R. and Marshall, J., 2015. The Dutch Disease effects on tourismThe case of Australia.Tourism Management,46, pp.610-622. Ruhanen, L., Whitford, M. and McLennan, C.L., 2015. Indigenous tourism in Australia: Time for a reality check.Tourism Management,48, pp.73-83. Song, H., Dwyer, L., Li, G. and Cao, Z., 2012. Tourism economics research: A review and assessment.Annals of Tourism Research,39(3), pp.1653-1682. Thomas, R., 2013.Small firms in tourism. Routledge. Tribe, J., 2015.The economics of recreation, leisure and tourism. Routledge. Vila, T.D., Darcy, S. and Gonzlez, E.A., 2015. Competing for the disability tourism marketa comparative exploration of the factors of accessible tourism competitiveness in Spain and Australia.Tourism Management,47, pp.261-272.

Personal Development Plan Paper

Question: Dicuss about thePersonal Development Plan Paper. Answer: Introduction: Reflective Account As a student academic research is one key part in my learning and academics hence it is important for me to understand my key skills that are important for me to become a successful academic researcher. Out of the information discussed in class I have realised that academic research is a complex procedure and it needs to be handled effectively in order to get favorable research outcomes. From the research that I had to do which is related to reward systems and employee motivation I have realised the importance of using the suitable methods to complete the study. As per Collis Hussey (2013) an academic research is mainly based on its choice of methods and during the course of research of employee motivation I had got the opportunity to understand and learn the ways to choose the right kind of method to complete a particular study. My approach towards the research study has been highly facilitated by the discussion regarding the essentiality of research philosophy, design, approach and strategy. Through the discussions in class I have acquired the knowledge of these key methods which will help me to organise and complete further research studies. The present study has helped to discuss the different aspects of research which has helped me to understand to do an academic research in a professional manner which will help me understand the nerve of a professional research (Garrison, 2011). My ability to conduct an academic research would surely change as from conducting this research I have gained idea about being ethical in nature and I have also understood the importance of gathering quantitative and qualitative data and their essentiality from the context of the research. For the present research I have had to frame questionnaires that have given me fair bit of knowledge about gathering research data which woul d help me to complete research effectively. A lot of contemplation goes into completing a particular research and I have developed that required skill to contemplate and invest profound thinking in a research especially to make effective decisions regarding the choice of methods applied in the completion of a particular research. I have developed skills to interpret given data as well as have an effective hold on analysing data in a descriptive data. As per Saunders et al., (2012) research work is a complicated procedure and understanding the different sections of research is essential and I have been able to do that with the help of the regular discussion and practical research works that I have been involved with. I have gathered ample knowledge about being right conceptually and the present research has helped me to do this. I have always thought that academic research are mostly done to let the student understand the procedure of the research but now I have realised that it not only helps to prepare a student for researches but also helps to get favorable outcomes which are extremely important for the student. As a student I have been able to understand the purpose of academic research and so, it has also helped me to be on the right track and most importantly helped me to grasp the overall knowledge of f raming an academic research which will help me in the long run. References Collis, J. Hussey, R. (2013) Business Research: A Practical Guide for Undergraduate and Postgraduate Students. 4th ed. London: Palgrave-MacMillan Garrison, D. R. (2011).E-learning in the 21st century: A framework for research and practice. Taylor Francis. Saunders, M., Lewis, P. Thornhill, A. (2012)Research Methods for Business Students, 6th ed. Pearson Learning Solutions.

Why Taking Time Off Of College Can Be The Best Option

Why Taking Time Off Of College Can Be The Best OptionIf you have been writing sample essays for your college admissions essay and want to apply it to your second semester, you may want to take some time off of the course. For most students, their sophomore year is not a get-out-of-jail-free card. While a second semester of college may seem like a much more comfortable transition from high school to college, it can be quite disruptive and difficult to make up for lost time.There are, however, a number of benefits to taking time off from college. Some of these benefits include:When you take a semester off, you have less time on your hands. Students do not have the luxury of choosing when they will take off, and, if you do choose to go away, you may want to choose an easier time of year. After all, Spring is probably the busiest time of the year, and during this time many schools experience a surge in application traffic.Students that are going away can expect to spend an easier time in college. As you might imagine, taking a break during the summer can cause problems with your grades, especially if you do not have enough study time to catch up on classwork.One of the best benefits of this option is that it allows you to better tailor your college applications to your strengths and weaknesses. While you may have what it takes to succeed at a school that is a mismatch for you, you may not have what it takes to make it at a school that is ideal for you.One of the biggest reasons for this is simply time. If you were really committed to getting the perfect college and didn't take a break, you would never have gotten to this point. Rather than devote a semester of your life to being perfect, try to find the middle ground between perfection and a fairly even playing field.Don't ignore the importance of taking a semester off of college if you have already taken the fall semester off and want to apply for the spring semester. Taking a break allows you to adjust to a new s chool without having to adapt to a new curriculum. Keep in mind that if you will be on an LPN or RN rotation, you might also have to decide if you would like to continue the LPN or RN.

A Complete Guide to 2019 Interview Questions

A Complete Guide to 2019 Interview Questions The hardest part of preparing for an interview is the unknown factor. Although you can make assumptions about what you’ll be asked, you never know for sure until you’re there on the hot seat. Sure, you’ll be asked about your jobs, your skills, and your experience- but there are lots of different ways any given interviewer can go. While it is impossible to predict with 100% accuracy what might be thrown your way, you can do your best to prepare for the different scenarios you might see on interview day. The most asked interview questionLet’s start with THE interview question. The alpha. Without a doubt, the most  asked  interview question in existence is â€Å"Tell me about yourself.† It’s an easy ice-breaker, and it lets the interviewer start to get a sense of what you’re like as a candidate.Here’s how you can answer it:Tell Me About YourselfYour Elevator PitchThis  will most likely be the first question you’re aske d in any job interview, so it’s absolutely imperative you have your response ready to go.Interview questions measuring personalityUnlike the classic â€Å"Tell me about yourself,† questions measuring personality are a lot more uncommon, subtle, and complex. These are generally questions the employer has tailored to measure your personality and how  it would translate to the responsibilities of  their open position.Here are some examples:Ethical Interview QuestionsBehavioral Interview QuestionsHypothetical Interview QuestionsBrainteaser Interview QuestionsSituational Interview QuestionsProblem Solving QuestionsThese questions can be tricky because it’s not often clear what kind of answer the employer wants to hear. A person hiring someone for an accounting position may consider someone with an introverted personality a better fit for the job than someone who parties it up every Saturday, and vice versa.Interview questions you’re not expectingIt’ s less likely that you’ll be asked any of these interview questions, but as you can never be sure of anything in the interview game.  It’s always a good idea to prepare:Interview Questions You’re Not ExpectingRemember, these questions exist, which means they were all asked at one point or another. Don’t be the interviewee  that gets caught like a deer in headlights when faced with a  Ã¢â‚¬Å"gotcha† question.Here are some additional questions that you might not be expecting:â€Å"How would you fire someone?†Ã¢â‚¬Å"What’s your idea of the perfect day?â€Å"â€Å"You’re driving down a dark road, during a wild storm. You drive past a bench†¦.â€Å"The â€Å"biggest challenge† interview questionIf the interviewer does ask you a question like, â€Å"What’s the most difficult part of being a [current job title]?† or â€Å"What was the toughest part of your last job?† here are ways you can frame your struggles  to make yourself look awesome:The Biggest Challenge Interview QuestionsQuestions relating to salaryThe job application process has a number of separate stages: applying, interviewing, job offer, then salary negotiation and acceptance. Most employers stick to this, and let the money talk wait until things are further along. But if they jump the gun and ask you up front for a) your current salary or b) desired salary, what do you do?Interview Questions Relating to SalaryInterview Questions About Your Current SalaryQuestions about salary are important to keep in mind. More and more states are passing legislation about what potential employers can and can’t ask you about your salary history, so make sure you know what your state’s current policies are, before you hand over that information to an interviewer.Illegal interview questionsOut of ignorance or slyness, an interviewer might try to get information out of you that the company is not allowed to fac tor into their hiring decisions. However, you’re not obligated to answer them- and in fact you shouldn’t.  Your battle plan should be to figure out why they’re asking (whether it has direct consequences for the job itself), and to decide whether you should answer.Illegal Interview Questions11 Unethical Interview Questions You Don’t Need to AnswerRed Flag QuestionsSome of the hardest questions you’ll encounter might be illegal, so it’s important to know what the danger zone questions are, and why you don’t need to answer them. And if there’s an out-of-bounds question being asked, don’t panic. Just say you don’t feel comfortable answering it, and deftly steer the topic to something else you’d like to share about yourself.The hardest types of questionsWhen you’re in the hot seat, all questions thrown your way seem tough. Some, though, are harder than others, like the ones below. Remember: your intervi ewer not only wants to get a good sense of what you will answer, but also how you handle the pressure. Stay cool and take a breath, even when you’re struggling to come up with an answer. Study these questions and prep yourself for whatever might come your way.Tough Interview Questions That Are Very CommonThe Hardest Interview Questions of 2016The 10 Toughest Interview QuestionsHow to Answer the Toughest Interview Questions9 Super-Tricky Job Interview Questions and How to Answer ThemWild card questionsAnd finally, here are some additional questions that did not fall into any particular category, but are very important to prep for:â€Å"Can I contact your current employer?â€Å"â€Å"Why have you had so many jobs?â€Å"â€Å"Aren’t you overqualified for this position?â€Å"â€Å"Why Should I Hire You?â€Å"What you should ask themAnd just when you think you’re done prepping for every possible question you can get in an interview, there’s still more work to be done: you need to prep the questions you’re going to ask too. You should always, always have questions for your interviewer.4 Questions to Ask at the End of an InterviewAsk These 10 Interview Questions to Impress Your Hiring ManagerThe Most Important Question You Need to Ask in an InterviewNow that you’re prepared for what you’ll need to say and ask on interview day, don’t forget to dust off your lucky interview outfit and brush up on that body language as well. Good luck, and happy interviewing!

tales of potosi essays

Role of women in colonial latin america/tales of potosi essays In early 1530, Francisco Pizarro set sail from Spain with the blessing and support of King Charles V. His mission was to conquer the lands of the New World and bring riches back to Spain. Three years later, he would defeat the Incan Empire and claim much of South America for Spain. This would begin an almost three hundred year period of Spanish colonial rule that was centered in Peru. The high country of Potosi, backbone of the Andes, embraced one of the largest and perhaps richest silver loads ever found on Earth (Arzans xi). In order to exploit this wealth, colonists were sent to settle this land, bringing with them European culture, European religion and European women. It was a very common belief that European settlers were better than the inferior natives that they encountered. Part of this inferiority was that they were seen as heathen savages who needed the guidance of Spanish monks in order to convert them to Christianity. These two pillars of colonial life in Peru (t he search for wealth and the influence of religion) affected the daily lives of every colonist. As the work of Bartolome Arzans de Orsua y Velas, Tales of Potosi, clearly expresses, life for women during colonial times seemed to be very narrowly defined, particularly in their societal stance and Christian virtues. Arzans uses the tale of The Warrior Maidens as an example of the uncommonly possessed bravery and strength of two young maidens living in Potosi, in mid seventeenth century. Under usual circumstances these brave young women strived to break free of the role most women had during these times. These two young maidens, as was common in the European upbringing of women in colonial times, had been reared with such circumspection and kept so closely within doors that scarcely anyone knew of their existence, not only in the town at large, but even in the quarter where they lived (Arzans, 59). Traditionall...

China's top economic challenges to maintain as one of the fastest Essay

China's top economic challenges to maintain as one of the fastest growing economies - Essay Example GDP has grown swiftly at an average of 10 percent a year whereas over 500 million people have risen above the poverty line. A gradual shift from a centrally-planned to a market-oriented mixed economy, which is based on the market demand and supply mechanisms, has largely contributed towards China’s economic boost. Since the economic liberalization began in 1978, China’s economy has grown around a hundred times. China has recently emerged as an investment-driven, export-led economic giant. Factors leading towards this enthralling progress include salient economic reforms. Foreign trade structure has been de-centralized and efforts have been made to integrate into the international trading system. China became a member of  Asia-Pacific Economic Cooperation  (APEC) group in November 1991, a step believed to promote liberated two-way cooperation in the economical, regional trade and technological fields. The induction into trade organizations such as World Trade Organiz ation (WTO) in 2001 was also a healthy move to escalate China’s trade figures as WTO required the Chinese government to further liberalize and deregulate trade. Fostering foreign-invested industries has also lent a helping hand towards China’s export growth. All these reforms aggregated into China becoming the fastest paced growing major economy not only in the region but also in the world. ... Today, the government and the policy makers of China have concerns regarding many issues which have arisen as the by-products of intense economic expansion in the country (Zhang 2003). Firstly, one of the major challenges faced by the Chinese economic growth is the prominent US accusation of ‘manipulating’ the Chinese currency. Over the past few years, the official currency of China, Yuan, has been held in a floating exchange rate system, though only allowed a very narrow margin to fluctuate. Many in the US however urge for a more flexible exchange rate which pivots around the market equilibrium determined by the market forces of currency demand and currency supply. Despite of the fact that Yuan has been allowed to fluctuate more liberally and has even risen by 20% in value against the US Dollar since 2005, Japan, European Union and US yet accuse China that it manipulates its currency by deliberately keeping it at a low exchange rate in relation to the US Dollar with a v iew to make the US products less competitive and, simultaneously, the Chinese goods and services more competitive and relatively cheaper than the US goods. This lowered currency rate leads to a rise in Chinese exports whereas US exports decline. A large amount of trade deficit suffered by the US in trade with China adds to the gravity of the accusation. Concerns for China regarding this issue are that the US, World Trade Organization or APEC might impose trade sanctions on China for its ‘problematic’ currency exchange rate. These sanctions may prove very costly for the growing Chinese economy as the world’s second largest economy is principally led by mass amount of exports to its

Diversity Interview Essay Example | Topics and Well Written Essays - 1250 words

Diversity Interview - Essay Example As a function of seeking to understand diversity in a more effective manner, the following analysis will discuss and provide a narrative account and analysis of an interview which was conducted with the owner and director of a US-based financial services and planning group. In such a way, it is the hope of this author that after reading and integrating with the information that has been put forward within this analysis, the reader will be able to come to a more informed and actionable level of understanding regards to the role and overall level of importance that diversity plays status that a given business entity might experience. Further, due to the fact that it is the express goal of this particular student to ultimately directs the company of my own, the analysis will include with an introspective look at the means by which information presented help to formulate a better understanding of diversity and have over regards to my own professional development. Cheryl Holland, develope r/owner/CEO of Abacus Planning Group LLC, located in Columbia, South Carolina, began as a financial planner for Merrill Lynch. Although ultimately satisfied with her career at Merrill Lynch, like so many other entrepreneurs, Holland had a desire to start a firm of her own. Realizing that financial services could best be integrated on a personal level and were entirely and completely ineffective when integrated by at a multinational banking Corporation, Holland set out to create just such a financial planning service. Comprising only for employees at the beginning, the firm undertook and asymmetrical level of marketing which relied solely upon word-of-mouth as a means of generating new clients. However, of particular interest to this analysis is the means of overall diversity and the importance that Holland placed on this diversity even in the early stages of business development. The reason that this level of emphasis upon diversity is something of a shock is due to the fact that Ho lland, educated in upstate Pennsylvania was operating a firm in the deep South. As such, the overall level of cultural diversity that existed within the society at large, let alone the labor force, was extraordinarily limited (Simms, 2013). However, realizing that this was an impediment to achieving a degree of diversity and by extension overall success, Holland sought to maximize the diversity that her start up reflected by hiring a Mexican-American client services representative, a Ukrainian financial advisor, and a female IT professional. Ultimately, the next section of this analysis will seek to measure the importance that diversity plays and played within Abacus Planning Group as Cheryl Holland chose strategies that sought to maximize it. Firstly, when asked regarding what specific cultural background she had and how this impacted upon the level of diversity within Abacus, Holland noted that she was raised in a white middle class family that had little if any interaction with o ther racial or cultural groups. However, once she left to attend Brenmore College in upstate Pennsylvania, she came to see the overall positive impacts that cultural diversity could have. More specifically, when asked concerning her personal views with regards to diversity, Holland noted that increasing diversity is not only the ethically correct step to take, it maximizes efficiency. Due to the fact that