Why is there a demand for maritime transport What is a maritime Essay

Why is there a demand for maritime transport What is a maritime transport system and who are the actors in maritime transport business - Essay Example All business documents and transactions recorded require a carefully done analysis and accounting for appropriate recognition. This is especially so since the business can be affected by the global recession of yester years. A documented life history of the maritime business transaction needs to be evaluated. The design of the ship plays a critical role as part of an acquisition arrangement (Pallis, 2007). There are many objectives attained through sea trade. Issues of freight rates have to be determined in the maritime transport. The market return of this kind of transport must be determined. This ought to be achieved so that a critical cost benefit program can be instituted (Pallis, 2007). Sea mode of transport is common in many nations across the world. Bulk goods dominate this market. With the emergence of aviation, passengers are not common in the mode of transport. Its considerable advantage over the air is that it is a cheap mode of transport. It is used over the sea, canals, lakes and even across the river but it is slow compared to other modes hence it is not friendly to perishable goods (Force, 2006). The reliance on water has been directly unpractical for nations that are land locked. Being land locked means that the country connection to territorial waters is minimal. The European colonial powers were among the first nations to establish connections in the marine trade. This achievement dates back since 1450 AD with the opening up of the Atlantic, Pacific and the Indian Ocean that brought about the expansive sea trade. This brought about the element of voyages for discovery by that time. The trend has continued in a progressive way. This positive movement in the trend shows a realized economic gain because of this trade. A survey carried out in the year 2006 showed that 86% in terms of volume and 70.1% in terms of value of the global trade was water born. The capital outlay in the investment forms the greatest challenge with the maintenance cost

Globalization Research Paper Example | Topics and Well Written Essays - 750 words - 1

Globalization - Research Paper Example Development of international media such as radios, televisions and the international web are examples of avenues towards interconnections. Economic factors also contribute to international connections through demand and supply forces that move resources from their regions of surplus productions to areas that experience scarcity across regional and international borders. Another concept of globalization is its â€Å"rapid and discontinuous change† with time and across regions as indicated by historical data (Parker, 2005, P. 7). The level of developed interconnections for example grows with identified kinks that relates to major economic changes in regions. Different communication efficiencies across regions also identify variation in the rate of globalization across different areas. This is because initiated factors in a region transfers to other regions at different speeds, based on the achieved regional connections (Parker, 2005). Higher number of different participants in e conomic units also defines globalization. Its concept of interlinked domestic economies and developed international transportation and communication infrastructure for example allows more players, who were previously disadvantaged, to gain access and explore foreign markets. The increased number and types of participants also identifies increased level of complexity in the formed networks, a factor of the interlinked cultures and systems (Parker, 2005). Interdependence is another concept of globalization that has largely manifested across territorial boundaries. Economic interdependence has for example led to specialization among countries and international trade for exchange. Political interdependence is also evidence through developed diplomatic ties among nations. Existence of international organizations with regulatory authority over members also identifies dependence as a concept of globalization (Milardovic, Paukovic and Vidovic, 2008). The following graph shows the non-unifor m trend in GDP and imports, indicators of globalization, for the United States. The forecast shows non-uniform but constantly changing trend in the values or GDP an imports in the future short run, an indication of forecasted kinky impacts of globalization. (WTO, 2012) Differences between an open and a close economy The major difference between open and closed economies is their different exposure to international markets. An open economy lacks barriers to international trade while a close economy has strict limitation to international trade. An open economy is therefore vulnerable to consequences of globalization than a close economy. Restricted international trade also identifies lack of exportation, importation, and transfer of assets into a close economy. The elements are however characteristics of an open economy (Arnold, 2008). Advantages and disadvantages of a country with an open economy A country with an open economy has a number of advantages and disadvantages that are ass ociated with the allowed international trade between the country and foreign markets. The transfer of commodities across the country’s borders for example allows its citizens to access varieties of commodities that are produced in other markets. This improves consumers’ utility levels. Available international market also promotes surplus production for higher income. Further, an open economy has associated increased employment opportunities than if

Benefits and Drivers Proposal for Kmart Research Paper

Benefits and Drivers Proposal for Kmart - Research Paper Example Dynamic strategies are inherently linked to the changing preferences of the people and the environment within which business operates (Montgomery, 2008). Kmart, would therefore greatly benefit from innovation, design and creativity not only in its products and services but also in its vision and operation. Through innovation in ideas and products, Kmart can easily achieve its goals and objectives. Kmart has created many brands which cater not only to the middle class segment but also the high end. But now Kmart must create unique capabilities that would give it a competitive advantage (Stalk et al., 1992)). Customers are the major part of all businesses. Kmart has excellent customer service which can be further improved through continuous feedback from customers. To improve and improvise Kmart can offer customers incentive to identify flaw in the customer service. They can also be offered to give suggestions to improve the store. Moreover, using social networking, Kmart can run online contest for best suggestion and implement them to gain customer long time loyalty. This would serve dual purpose: gain popularity; and at the same time, get innovative suggestion for improvement directly from the customers that meet their expected level of service. Kmart needs some highly creative input vis-Ã  -vis design format/ interior decoration of homes or offices. It would attract new segment of young and mobile people who have financial resources but not the time to put their ideas into reality. Kmart could start an online superstore that would facilitate customers’ dream to come true. They can outline their dream design and choose items or give specifications of their requirement regarding various goods and services. The store can then give tentative estimate, take advance and decorate/ design customers’ homes and offices as per their dream. This would be a highly exclusive activity which none of the competitors have. Hence, developing

Evaluating Capital Investment projects Essay Example | Topics and Well Written Essays - 250 words

Evaluating Capital Investment projects - Essay Example On the contrary, non-discounted matrices applies accounting rate of return. The metrics measure project performance/progress over a given period. Therefore, it is advisable for Arizona Hospital to select a combination of metrics due to the prones and cones associated with each metrics. Some of the prones of discounted matrices include; they give the intrinsic value of an investment, they are easier to apply and are reliable to use than non-discounted cash flow metrics methods. Some of the disadvantages of discounted metrics over non-discounted metrics include; they are based on assumptions and can only be reliable when there is certainty of cash flows (Baker & English, 2011). On the other hand, sensitivity analysis entails a mathematical technique used to determine the impact of independent variable over the dependent variable. The sensitivity may tell the senior managers of Arizona hospital whether the project will be optimal and the level of risk associated with a particular project so that necessary changes can be applied accordingly (Saltelli, Tarantola & Campolongo, 2004). This means that sensitivity analysis act as a useful tool for assessing capital projects risk and returns. This is because sensitivity analysis helps to identify the potential investments risk in the market, these help managers to prepare on how they can deal with that risk (Saltelli & Wiley InterScience,

Why did men like Joseph Plumb Martin join the army Essay

Why did men like Joseph Plumb Martin join the army - Essay Example Most of the recruits were young and army provided them with an opportunity to escape home and experience adventure of fighting against their enemy. But unfortunately, the reality was far from the rosy picture as envisaged by the new recruits. The common soldiers were faced with huge hardships where food had become scarce and proper clothing a distant dream. The long drawn battle of American army had severely affected the welfare of the soldiers. The new recruits were just sent to the front to fight with enemies without training. They were also not only deprived of adequate food and shelter during tough weather conditions but were also not paid their wages on time. Martin asserts that ‘I well know, for I have fought by their side’ (183). The delivery of supplies for food and other goods use to become difficult due to weather conditions which resulted in starvation and death. Most of the recruits went to fight without training because they felt that it was their moral duty to fight for their country. Hence, need for training was not important for the common soldier. The young recruits later became accustomed to the grim conditions of the war but were unable to do anything except accept the situation.

Life Coaching Article Example | Topics and Well Written Essays - 750 words

Life Coaching - Article Example Furthermore, it is never too late to take a breather, evaluate one's circumstances, and change course if this becomes the apparent ideal solution to a problem or a difficult situation. Life coaching is an effective tool which one can rely on achieving the needed clarity, set up a process by which specific, measurable, and achievable goals are set, and a clear strategy to achieve these goals is outlined. There are different types of coaching, such as sports or performance coaching, leadershipcoaching, strategy coaching, skills coaching, career coaching, personal or life coaching, business coaching, executive coaching, etc. Life Coaching, to define it, "is the practice of assisting clients to determine and achieve personal goals." (Permut) Life coaching is an alliance between a client and a coach who is a professional and provides guidance and accountability. The coach helps by first empowering one in defining exactly what one's true dreams, passions, strengths, weaknesses, fears are, and then in guiding in achieving specific goals based on exactly that individual's profile. The coach however does not take responsibility for any of the client's action. The client is in full control of his destiny at every step. The environment is that of support, trust, motivation and encouragement. Complete confidentiality, as allowed by the law is always assured. In the end this process will enabl... He/she is confident that all weaknesses and fear can be either overcome or leveraged for success. The International Coach Federation also acknowledges the great value of coaching in producing important benefits in the clients' personal and professional lives. "Through the process of coaching, clients deepen their learning, improve their performance, and enhance their quality of life." (Rothwell and Sullivan, 389) It is, however, fundamental to realize that life coaching is not psychotherapy or consulting. "Coaching is not psychotherapy... Unlike therapy, the coaching relationship is a partnership and is much more egalitarian than the traditional therapy relationship [and] the coaching orientation is outcome and action driven in the external environment." (Gooding, 36) Significantly, coaching focuses on empowerment, values, wants, desires, and visions of the future and the action to make those visions happen. Similarly, coaching is not consulting: the latter deals with problem solving tactics, action plans, achieving precise targets etc, whereas the former concentrates chiefly on action based learning. Modern life as well as business is all about stress, problems, tensions etc. The value of life coaching is becoming increasingly apparent. Most essentially, the return on investment in life coaching has increased tremendously and it will continue to fetch great profit to the investors. The case of MetrixGlobal is a convincing example. "Program costs were tabulated for all 43 leadership development participants in determining the return on investment. A 529% return on investment was produced by the coaching process (excluding the benefits from employee retention)."

Personal Finance Essay Example for Free

Personal Finance Essay Personal finance addresses the way an individual or families earn, budget, save, and spend money gained from employment, loans, or gifts. As a college student, my personal finances are based upon money I have obtained, seasonal employment and parental support. In creating my budget, I had to realize that my income was not the same each month so I had to make sure I had enough money to pay for my gas, phone bill, and entertainment. Sometimes I would go over budget due to unexpected bills so I would ask for help from my parents. I use a debit card through my bank City National Bank. I chose this bank because my parents also bank there and it’s a small personal bank. It makes it easier if I need my mom to transfer money to my account in case of an emergency. I do not use checks only my debit card and occasional cash, the debit card pulls money out of my account somewhat like a check. I do check my account online, and my statement looks similar to the on in The Money 101 Student Workbook. The format is a little different, but the same kind of information is given. I do not keep a register much to my mother’s dismay. Every Christmas, she gives me a register to keep track of my spending but I fail to use it. I do track my spending through balance inquiries that I receive via the ATM, as well as online. If I wanted to change banks, I would choose a bank that would be in Marshall and has the small town feel to it. I would also want one that might offer interest on my account. I didn’t find any new information concerning debit cards, but I do prefer a debit card to a credit card because it takes money out of your account instead of possibly spending what you don’t have. You can also abuse a credit card and use it unnecessarily. I did check on annualcreditreport. com to see if I had a credit report, but I do not because I don’t have any accounts in my name. The best card deal I found was on chase. com because if I put my name on my parents account then I could also have their 8. 99% interest rate. There were lots of credit card offers that had 0% introductory rates, but since I have no credit, then the interest rate would rise dramatically. Some insurance policies that would be important for personal finance would be disability insurance, car insurance, and health insurance. Identity theft insurance would probably be a good insurance protection. The thing that stuck out to me when Mike Brady came and spoke was the concept of â€Å"full coverage† insurance for your car, he said that it’s only an interpretation and not something that is written down, he also stated that there is no such thing as â€Å"full coverage. I would probably put my savings in the savings account in my bank since I would have access to it. My retirement plan would be to match whatever my company is putting into my 401K and putting money into stock that I can draw from when I actually do retire. The test that we took in the back of the booklet was fairly easy after looking through this so many times I answered a credit card would be the one to hurt you the most when in fact it says the student loans would affect your credit score more. My parents educated me very well on a lot of these subjects especially budget and checking account, my mom has preached to me about having a budget for as long as I can remember. The thing I learned from this unit, just to point one out, was the savings and retirement planning I didn’t realize it was such a priority because at my age you really don’t think about those things but I’ve learned that I do need to start early.