The Role of Service Industry in the Economic Development of Bangladesh free essay sample

E-mail: [emailprotected] com 3. Assistant Professor, Faculty of Business Administration, BGC Trust University Bangladesh * E-mail of the corresponding author: [emailprotected] com Abstract The Economy of Bangladesh is classified into three sectors. Of these, the average contribution of service sector, industry sector, agriculture sector to the GDP are 49. 33%, 28. 42% and 22. 42% respectively. So, the service sectors contribute most of the development of national economy. The research aims are to analyze the comparative contribution of service sector with other sectors, the impact of trade liberalization of service sector and to provide the recommendations for development of service sector. It is taken a sample of ten years data of GDP from 2000-01 to 2009-10 for analyzing the comparison of service sector with other sectors (industry and agriculture). The average growth rates between service sectors and industry sectors or agriculture sector or total GDP are analyzed with‘t’ test. The average growth rate of service sector, inudsty sector, and agriculture sector are 6. We will write a custom essay sample on The Role of Service Industry in the Economic Development of Bangladesh or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 17%, 7. 49%, 3. 21% respectively. The growth of service sector is more than the agriculture sector but less than the industry sector (result of‘t’ test). The paper also reveals that total trade deficit of service is increasing over the year. The average employment of Agriculture, Industry, Service to total employment are 58. 89%, 12. 39% and 25. 36% respectively. The paper emphasizes for the development of Tourism sector, Software, Transportation and Financial srvice, Education with quality, etc. Keywords: GDP, Service, Agriculture, Industry 1. Introduction The Economy of Bangladesh is growing one. It is basically divided into three basic sectors viz. Service, Agriculture and Industry. Among the Economic Sectors in Bangladesh, Service sector is most important. The contribution of service sector to the GDP is about 50% (Bangladesh Economic Review-2010). So, Service sectors influence the development of national economy. There is a latent demand for services in Bangladesh. To specify the need of services for huge population of Bangladesh, such sectors are to be opened for private entrepreneurs with required control. The enormous contribution of service sector and an increasing trend therein have played an important role in high growth of GDP. The analysis of last few years’ data gives a clear idea on the phenomenon. The contribution of the industry sector to the economy of Bangladesh has been increasing day by day. For the purpose of national income accounting, Bangladesh Bureau of Statistics (BBS) divides the economy into fifteen sectors (Bangladesh Economic Review-2010, Ministry of Finance). 2. Problem statement From the growth of overall size of Economy, it is difficult to identify the significance of specific sector. Proper nurturing of significantly contributory sector, the growth of Economy may be resisted. Previously there was no difference between Services and Products. Service concept is the modern issue in the world. The most of the business is related to services. Even the product itself provides the service to the customers. So the services are the vital issue now. The economic sectors classified by Bangladesh Government are Hotel and Restaurant, Retail trade and Wholesale trade, Transportation and Communication, Real state and Renting, Financial Institution, Public Administration and Defense, Education, Health and Social Services, Community and Personal Services are included under Service Sectors. So they occupy a major share of total economics sectors. As a result, importance of service is significant. For Economic development we always think regarding industry and agriculture sectors rather service sectors. But major sector in the economy is service sector. In the modern world, service is required in every phase of life. People expect better service. Our public sectors 178 Research Journal of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol 3, No 5, 2012 www. iiste. org including public enterprises are largest sectors in the economy. But these sectors are losing concern. The public sector is unable to provide competitive service. So, people go to private sectors such as financial institutions, transportation, hospitals, educational institutions, and communication media for better service. But the growth rate of service sectors is either below expected level or not as per its importance in the economy. From this research the problems of service sectors are identified. For increasing the living standard of the people the service concept has come to lime light. Service marketing and service management will get the importance to develop the service sectors in Bangladesh. The research aims are to analyze the comparative contribution of service sector with other sectors, the impact of trade liberalization of service sector and to provide the recommendations for development of service sector. 3. Objectives of the Study Some specific objectives are set for this research. The principal objective of this study is to evaluate the comparative position of service sector. To accomplish this basic objective, following specific objectives are set: i. To conduct the comparative analysis of service sector with Agriculture and Industry sectors. ii.. To analyze the impact of Liberalization on Service sectors iii. To provide the recommendations for development of Service sector. 4. Methodology This research has used mostly secondary data have been used for analysis. Data have been collected from Bangladesh Economic Survey, Bangladesh Bureau of Statistics, Bangladesh Bank, World Bank, and Internet web sites, Books, Newspapers, Magazines and Journals. We have used required data for ten years from 2000-01 to 2009-10 for analyzing the contribution of economic sectors, growth rate of each sectors viz. service, industry and agriculture. Data of service export and import from 2004-05 to 2009-10 (five years) and the data of employment contribution for 9 years have been explained. 4. 1 Analysis of data: The data have been analyzed using graph, chart and some other simple statistical tools. The growth rate of service sectors (trend) is shown by graphical presentation. The total contribution of service sectors and sector wise share of major sectors are shown graphically. The average growth rates between service sectors and industry sectors or agriculture sector or total GDP have been compared by student’s‘t’ test. 4. 2 Hypothesis test 4. 2. H 0 : Â µ1 = Â µ 2 (There is no significant difference between the growth rate of service sectors and industry sectors. ) 4. 2. 2 H 0 : Â µ1 = Â µ 2 (There is no significant difference between the growth rate of service sectors and agriculture sectors) 4. 2. 3. H 0 : Â µ1 = Â µ 2 (There is no significant difference between the growth rate of service sectors a nd the growth rate of total GDP) 5. Analysis and Results 5. 1. The Contribution of Service Sector Off all the sectors, service sector is prominent one. Service sector has the growing potential to be driver of sustainable economic growth and significant poverty alleviation in Bangladesh. Service sector in Bangladesh is the largest sector. From the table 2(a), it is observed that the contribution of the service sector is average 49. 33%. It is steady over the period. The contribution of service sectors are 48. 77% in 2000-01 and 49. 90% in 2009-10. Figure-1 demonstrates contribution of different sectors in GDP. The groth rate of srvice sector is steady. The average growth is 6. 17%. The growth rates are 5. 43% ,6. 40%, and 6. 59% in 2001-02, 2005-06, 2009-10 respectively. 5. 2. Growth of Sub-sectors of Service Sector Growth rate of service sector is consistnent and contineous. From the Table 1(b), it is shown that the four sub sectors –(i) Trade (ii) Transport, storage and communication (iii) Realstate renting and other Business activities (iv) Community, social and personal services contribute more in GDP which are 14. 06%, 10. 07%, 7. 98%, 7. 39% 179 Research Journal of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol 3, No 5, 2012 www. iiste. org respectively. But The growth rate is more for the Education, Banking, Public administration, Transportation which are 8. 42%,8. 13%, 7. 88% ,7. 48% respectively. 5. 3. Comparative Analysis of Service Sector with Agriculture and Industry Sector From the comparative presentation of the sectors, it is found that service sector is sustaiable in terms of growth and contribution to toal GDP. From the Table 2(a), 2(b) and figure -2, it is shown that the average contribution of service sector, industry and agriculute sectors are 49. 33%, 28. 42%, 22. 25% respectively. So, the service sector is the half of total sector of economy. The growth rate of service sector, inudsty sector,and agriculture secture are 6. 17%, 7. 49%, 3. 21% respectively. Here, from the figure-2, it is seen that the contribution of service sector is steady. The contribution of industry sector is increasing with the reducing trend of agriculture sector. Here, aparently it is seen that the average growth rate of service sector is more the agriculture sectors and the total GDP growth and the average gorwth rate of industry sector is slightly more than the service sector. Now we shall statistically test whether the average growth rate of service sector is more than the agriculture sectors and total GDP growth and whther there is significant difference of growth rate between service sectors and industry sector. . Hypothesis test Since in the given data variances of population are unknown and the sample size is small we have used t-test from the table -6. The result of hypothesis test is in table 3. 6. 1. H 0 : Â µ1 = Â µ 2 (There is no significant difference between the growth rate of service sectors and industry sectors. ) Table 3: Paired Samples Test D etails 95% Paired Std. Std. Confidence Differences Deviation Error Interval of the Mean Mean Difference Lower Upper 1. 1152 . 3717 -2. 1783 -. 4639 t df Sig. (2tailed) Pair 1 Growth rate of Service sector Growth rate of Industry sector -1. 211 Growth rate of Service sector Growth rate of Agriculture sector Growth rate of Service sector Growth rate of Total GDP sector 8 3. 554 .007 Pair 2 2. 7722 1. 2957 . 4319 1. 7763 3. 76826. 419 8 . 4806 . 1602 7. 3847E- . 6650 1. 845 8 02 .000 Pair 3 .2956 .102 Source: Compiled by authors through SPSS The table value is -2. 306 So, the calculated value (-3. 554) is outside the critical region. So, the alternative hypothesis is accepted. There is significant difference between the growth rate of service sector and industry sector. The growth rate of industry is more than that of service sector. 6. 2. H 0 : Â µ1 = Â µ 2 (There is no significant difference between the growth rate of service sectors and agriculture sectors) The table value is 2. 306. The calculated value(6. 1. 77) is outside the critical region. So, the growth of service sector is more than the growth of agriculture sector. 6. 3. H 0 : Â µ1 = Â µ 2 (There is no significant difference between the growth rate of service sectors and total GDP) The table value is 2. 3306. The calculated value (t=1. 84) is inside the critical region. So, the null hypothesis is accepted. Though the average growth rate of service sector is more than the growth rate of total GDP, but there is no difference with t test. 180 Research Journal of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol 3, No 5, 2012 7. Trade of service and Trade liberization www. iiste. org Trade liberlization has opened a new horizon for service exports. Service export is the amount which is paid by the foreign national for using the service of Bangladesh. Service import is the amount which is paid by the Bangladeshi national for using the service of other countries. GATS was formed to eliminate the trade barriers. Here we shall see the impact of trade liberization on the service sectors of Bangladesh. From the table 4, the figure-3 is drawn. It is found from the figure -3 that the import of service average Tk. 199368 million is more than the export of service average Tk. 112214. 5 million. The total trade deficit is increasing over the year. The average rate of growth of service export is more than service import which are 16. 16% and 15. 89% respectively. This is a good symptom for Bangladesh. 8. Employment opportunity in Service sector Service sector has created a great scope for employment. Bangladesh is a labor intensive country. Population is an important resource of Bangladesh. From the table 5 (data is taken from world Bank data bank) the figure-4 is drawn and it is shown that average employment of Agriculture, Industry, Service to toal employment are 58. 89%, 12. 39 5and 25. 36% respectively. But employment of service sector is increasing. The employment of industry sector is increasing but agriculure sector is decreasing. 9. Recommendations for Service Sectors After analysis, it can be said that the contribution of service sector is about 49. 22% and the growth rate of service sector is 6. 75%. The contribution is about half of the total economic sectors and the growth rate is more than the average growth of GDP. Emphasis is given on the service sector for development. Since the industry sector is growing rapidly (7. 49%), support can be given by providing the quality and smooth service. The employment in service sector is increasing day by day. So, there is lot o f opportunity for employment in this sector. Though there is negative Trade Balance of service of Bangladesh, the growth rate of srvice export is more than that of import. It is a good symptom for us. So we have to emphasize the service export such as Tourism, Software, Transportation and Financial srvice etc. The prospects of some promising service sectors are pointed out below. 9. 1. Development of Tourism Tourism is one of the most promising sectors for Bangladesh with her huge natural beauty, heroic historical background and archaeological resources (Das Chakroborty 2012). Bangladesh is a country of natural beauty. She has lot of tourism places. These places are of different interest like beaches, historical places, archaeological sites, religious palaces, forest and jungle etc. . 2. Development of Software and IT With the passage of time, the globe is being changed from analogue to automation. During last few years Bangladesh showed enormous success in Software and IT Sector which can enlarge the extent of her service market (BASIS 2010). The current size of Bangladesh IT Industry and software/ITES industry is still smaller compared to the overall economy and the number of p opulation (over 150 million). Over the last few years the industry has been grown considerably and is expected to grow at that rate for some time. 9. 3. Information Communication Technology (ICT) With the hope of great development, the govrnment of people republic of Bangladesh introduced National Information and Communication Technology (ICT) Policy in October 2002. This policy document guides the development of a country-wide ICT-infrastructure for human resources development, governance, e-commerce, banking, public utility services and all sorts of on-line ICT-enabled services by 2006. 9. 4. Improvement in Transportation Transportation is an important sub-sector of total service sector. It includes different type of transport for example road transport, waterways, railways, and airlines. Of these, road transport is mostly used means of transport. Road transport in Bangladesh is a private sector affair operating predominantly in domestic routes. 181 Research Journal of Finance and Accounting ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) Vol 3, No 5, 2012 www. iiste. org Rates are among the cheapest in the world. Express and non stop services are available. Total Highways is 204,022 km of which paved is 25,095 km and unpaved is 178,927 km (1996 est. ) (bangla2000. com). 9. 5. Quality Financial Services Financial service is another important part of total service sector in Bangladesh. It is a promising sub sector which consists of the Bangladesh Bank (the central bank), four nationalized commercial banks (NCBs), 5 stateowned specialized banks (SBs), more than 30 private sector commercial banks (PCBs) and more than 9 foreign commercial banks (PCBs). The rest of the financial sector consists of more than 29 non-bank financial institutions, the capital market, 3 general and 17 life insurance companies, the cooperative banks and the microfinance institutions. 9. 6. Development of Education sector For increasing of people and literacy rate, the demand of higher education is increasing. The technical institution, Business education, health education create the demand to the people. The development of government and private universities is the indicator of growing demand of education sector. 10. Concluding Remarks The contribution of service sector is about 50 percent of the total GDP. So, the growth rate of GDP depends on the service sectors. The service sector provides the support for the development Industry sector and agriculture sector. For the international trade (export and import), the smooth transportations, financial and insurance service is required. For the improvement of the GDP sector, it has to give special emphasize on service sectors. There is lot of scope of development of service sector. Bangladesh is providing transit and transshipment to India, Nepal and Bhutan that will increase return from the transportation and communication sector. The manufacturing sector is growing rapidly. So, the need of financial service and education is increasing in future. Tourism, hotel service is promising in Bangladesh. The trade liberalization on service will cause the opportunity for service export. So, we have to take the initiatives for development of service sectors. This paper has analyzed the comparative contribution of service sector, the growth of service sector, service export and the employment in service sectors. There is scope for further research about the ways of development of service sectors. References: Bangladesh Parjatan Corporation n. d. SUNDARBAN Royal Bengal Tiger and Mangrove Forest accessed 2 May 2011, www. parjatan. gov. bd/forest. php Bangladesh Association of Software and Information Services 2010, BASIS Resource Center, Bangladesh, accessed 2 May, 2011, http://www. basis. org. bd/index. php/resource Bhuyan A. R. , Hossain M. I. and Hossai M. A. , 20007, Study on the Services Sector of Bangladesh, The Bangladesh Trade Support Programme (BTSP) Brahs, Stuart J. 2002. Priorities for WTO Financial Services Negotiations Fund Management and Pensions, Principal Financial Group, Washington DC. Bangladesh Bareu of Statistics, BBS (Labour Force Survey) 2006, Dhaka Comjagat. com 2010, Status and Prospects http://www. comjagat. com/home/articles/morearticles/5515 of ICT in Bangladesh, Bangladesh, Choudhury T. A. , Raihan A. , Habib S. and S. Chowdhury. 2000. Effects of WTO on Financial System of Bangladesh: A Research Report, BIBM, 2000. All the journals articles are available online to the readers all over the world without financial, legal, or technical barriers other than those inseparable from gaining access to the internet itself. Printed version of the journals is also available upon request of readers and authors. IISTE Knowledge Sharing Partners EBSCO, Index Copernicus, Ulrichs Periodicals Directory, JournalTOCS, PKP Open Archives Harvester, Bielefeld Academic Search Engine, Elektronische Zeitschriftenbibliothek EZB, Open J-Gate, OCLC WorldCat, Universe Digtial Library , NewJour, Google Scholar

The History of the Green Movement

The History of the Green Movement Though the conservation movement had European roots, many observers maintain that the United States has emerged as the worlds leader in environmentalism. If America does, in fact, deserve credit for leading the green movement, what made the United States such a crucible for environmentalism? Its partly due to the immigrants who came to the North American continent in the colonial era and partly to the natural beauty of the land they found when they crossed the Atlantic. The Early Years of the Green Movement America, of course, didnt invent the green movement any more than it invented trees. The basic principles of sustainable forestry management, for example, were known throughout Europe (especially Germany, France and England) since the medieval era. Farming communities in Asia practiced soil conservation through terrace farming and other sustainable agricultural practices. English writer Thomas Malthus, in his oft-quoted An Essay on the Principle of Population, alarmed much of 18th-century Europe by proposing that an increase in human population beyond sustainable limits would result in a catastrophic plunge in population due to famine and/or disease. Malthus writings would inform much of the alarm over the population explosion roughly 200 years later. But it was after the colonization of the Americas by Europeans that writers and philosophers were among the first to propose that wilderness had an intrinsic value beyond its usefulness to humans. While fisheries, hunting grounds, and timber stands were important to civilization, visionaries like Ralph Waldo Emerson and Henry David Thoreau proposed that in wildness is the preservation of the world (Thoreau). Their belief that nature possesses a spiritual element that transcends human utility gave these men and their followers the label Transcendentalists. The Green Movement and the Industrial Revolution The transcendentalism of the early 1800s and its celebration of the natural world arrived just in time to be trampled underfoot by the ravages of the Industrial Revolution. As forests disappeared under the ax of reckless timber barons, coal became a popular source of energy. Unfettered use of coal in homes and factories resulted in horrific air pollution in cities like London, Philadelphia, and Paris. In the 1850s, a carnival huckster named George Gale heard about an immense California redwood that was over 600 years old when Jesus was born. Upon seeing the magnificent tree, nicknamed The Mother of the Forest, Gale hired men to cut the tree down so that its bark could be displayed in his sideshow. The reaction to Gales stunt, however, was swift and ugly: To our mind, it seems a cruel idea, a perfect desecration, to cut down such a splendid tree ... what in the world could have possessed any mortal to embark in such a speculation with this mountain of wood?, wrote one editor. The growing realization that human industry was obliterating irreplaceable wilderness and endangering human health resulted in the earliest efforts at managing natural resources. In 1872, Yellowstone National Park was created, the first of what became one of Americas best ideas: a network of national parks that were strictly off-limits to exploitation. The Conservation Movement Takes Root As the Industrial Revolution continued to wreak havoc on wilderness, a growing chorus of voices sounded the alarm. Among them were John Muir, a visionary poet of the American West and its spectacular beauty, and Theodore Roosevelt, an avid reformer whom Muir convinced to set aside vast tracts of wilderness for conservation. Other men, however, had different ideas about the value of wilderness. Gifford Pinchot, who studied forestry in Europe and became an advocate for managed forestry, was once an ally of Muir and others in the conservation movement. As Pinchot continued to broker the clear-cutting of virgin forests with influential timber barons, however, he fell out of favor with those who believed in the importance of preserving nature, regardless of its commercial uses. Muir was among those who decried Pinchots management of wilderness areas, and it is Muirs interest in preservation as opposed to conservation that gave rise to what may be Muirs greatest legacy. In 1892, Muir and others created the Sierra Club, to do something for wildness and make the mountains glad. The Modern Green Movement Begins In the 20th century, the conservation movement was overshadowed by events like the Great Depression and two world wars. Only after World War II ended and the rapid transformation of North America from an agricultural society to an industrial one was well underway did the modern environmental movement begin. Americas postwar industrialization proceeded at a breakneck pace. The results, while amazing in their breadth, alarmed many with the havoc they wreaked. Nuclear fallout from atomic tests, air pollution caused by millions of cars and factories spewing chemicals into the atmosphere, the destruction of once-pristine rivers and lakes (like Ohios Cuyahoga River, which famously caught fire due to pollution), and the disappearance of farmland and forests under suburban developments were a concern to many citizens. Into this maelstrom stepped a quiet, studious scientist and author.  Rachel Carson in 1962 published, a devastating argument against the reckless use of the pesticides that were wiping out populations of birds, insects, and other animals. The now-classic book gave voice to millions of Americans who saw their rich natural heritage disappearing right before their eyes. Following the publication of Silent Spring and books like Paul Erlichs The Population Bomb, Democratic Presidents John F. Kennedy and Lyndon Johnson joined many other politicians in adding environmental protection to their platforms. Even Republican Richard Nixon made considerable progress toward incorporating environmental awareness into his administration. Not only did Nixon create the Environmental Protection Agency (EPA), he also signed the National Environmental Policy Act, or NEPA, which required environmental impact assessments for all large-scale federal projects. And on Christmas Eve of 1968, NASA astronaut William Anders, while orbiting the moon with the Apollo 8 mission, snapped a photograph that many people credit with providing a foundation for the modern green movement. His photo shows a small, blue planet Earth peeking over the horizon of the Moon. (See above.) The image of a small planet, alone in a vast ocean of space, showed billions the fragility of our planet and the importance of preserving and protecting Earth. The Environmental Movement and Earth Day Inspired by the protests and teach-ins that were occurring worldwide throughout the 1960s, Senator Gaylord Nelson proposed in 1969 that there be a nationwide grassroots demonstration on behalf of the environment. In Nelsons words, The response was electric. It took off like gangbusters. Thus was born the event now known as Earth Day. On April 22, 1970, the first celebration of Earth Day took place on a glorious spring day, and the event was a tremendous success. Millions of Americans coast to coast took part in parades, concerts, speeches and fairs devoted to preserving the natural heritage of the United States and the entire world. In a speech that day, Nelson stated, Our goal is an environment of decency, quality, and mutual respect for all other human creatures and for all living creatures. Earth Day is now celebrated worldwide and has become an environmental touchstone for two generations of eco-activists. The Environmental Movement Solidifies In the months and years following the first Earth Day and the creation of the EPA, the green movement, and environmental consciousness were solidified into private and public institutions around the world. Landmark environmental legislation, like the Clean Water Act, the Federal Pesticides Act, the Clean Air Act, the Endangered Species Act, and the National Scenic Trails Acts, were signed into law. These federal acts joined many other state and local programs to protect the environment. But all institutions have their detractors, and the environmental movement is no exception. As environmental legislation began to be implemented nationwide, many in the business community found that environmental legislation was having a negative impact on the profitability of mining, forestry, fisheries, manufacturing and other extractive and polluting industries. In 1980, when Republican Ronald Reagan was elected to the presidency, the dismantling of environmental safeguards began. By appointing anti-environmental crusaders like Interior Secretary James Watt and EPA Administrator Anne Gorsuch to office, Reagan and the entire Republican Party signaled their naked contempt for the green movement. Their success was limited, however, and both Watt and Gorsuch were so universally disliked even by members of their own party that they were removed from office after serving a matter of months. But the battle lines had been drawn, and the business community and the Republican Party remain vehemently opposed to the environmental protections that define much of the green movement. The Green Movement Today: Science vs Spiritualism Like many social and political movements, the green movement has been strengthened and annealed by the forces that oppose it. After James Watt was appointed to lead the Department of the Interior, for instance, membership in the Sierra Club grew from 183,000 to 245,000 in just 12 months. Today, the green movement is again defined and galvanized by its command of issues like global warming and climate change, wetlands preservation, the Keystone pipeline, nuclear proliferation, hydraulic fracturing or fracking, fisheries depletion, species extinction and other important environmental concerns. What distinguishes the green movement today from the earlier conservation movement is its emphasis on science and research. Speaking in spiritual tones and using religious metaphors, early environmentalists like Muir and Thoreau celebrated nature for its profound impact on mans emotions and our souls. When Hetch Hetchy Valley in California was threatened by a dam, Muir exclaimed, Dam Hetch Hetchy! As well dam for water-tanks the peoples cathedrals and churches, for no holier temple has ever been consecrated by the heart of man. Now, however, we are far more likely to call upon scientific data and empirical research to buttress arguments in favor of wilderness preservation, or against polluting industries. Politicians cite the work of polar researchers and use computerized climate models to battle global warming, and medical researchers rely on public health statistics to argue against mercury pollution. Whether these arguments succeed or fail, however, still depends on the vision, the passion and the commitment of the people who make up the green movement.

Of what value are the four key concepts of Organization & Identity Essay

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Metrics and measurements Essay Example | Topics and Well Written Essays - 750 words

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Starbucks - International Business Essay Example | Topics and Well Written Essays - 3500 words

Starbucks - International Business - Essay Example Although, previous researchers like Roby (2011) conducted research on international expansion strategy of Starbucks but these researcher focused more on marketing aspects of international expansion strategy of iconic coffee retailer but strategic dimensions of Starbuck’s international expansion remain scarcely discussed by scholars. In order to fulfil scarcity of research regarding strategic dimensions of Starbucks international expansion, this essay will try to shed light on pertinent issues regarding international expansion of Starbucks. Key objective of this paper will be to answer three questions, 1- how internal resources capabilities are supporting Starbucks to achieve success internationally, 2- how Starbucks has addressed challenges during international expansion and 3- what are the strategic initiatives that are taken by Starbucks to achieve success while expanding business internationally. In such context, business background Starbucks will be discussed in order to d evelop background for strategic analysis. Back Ground Analysis: Business Matrix of Starbucks Starbucks Corporation was established by Zev Siegl, Gordon Bowker and Jerry Baldwin during the year 1971 and the company is headquartered at Seattle, Washington, U.S (Starbucks, 2012). The company started its operation through opening single store in Pike Place Market of Seattle while in the next 42 years; Starbucks Corporation has expanded its operation over 61 countries (Starbucks, 2012). According to annual report published by Starbucks Corporation for the financial year ended 31st December, 2012, the company maintains distribution channel containing more than 10,000 stores (including licensed and owned stores) within USA and more than 20,000 stores across the world (including licensed and owned stores). Starbucks Corporation specializes in offering various coffee drinks, beverages, different types of hot drinks, side dishes, salads etc (Starbucks, 2012). Market capitalization Starbucks c lose to US$38 billion while sales revenue of the company hovering over US$ 12 billion. Starbucks Corporation faces competition from not only same segment players but also from competitors who offer cross segment products. For example, Starbucks offer similar kind of offering as Dunkin' Brands, Green mountain coffee while in domestic and international market; Starbucks Corporation faces intense competition from cross segment players like Nestle, McDonalds, Kraft Food and Wendy's International. Why Starbucks has been so successful to penetrate in distant markets while its competitors are gasping for maintain margin product differentiation equilibrium? Lee (2010) pointed out that competitive advantage for Starbucks lies on its ability to customize its product portfolio and service mix in accordance with the macro environmental requirements. Lee (2010) identified three strategic moves that have helped Starbucks Corporation to achieve success in international market such as, 1- establish ing licensing and partnership with distribution partners that can reduce dimensions of risks and contingency factors associated with expansion in international context, 2- differentiating in terms of product portfolio and service customization as per socio-cultural divergence in international countries and 3- customizing its integrated marketing communication as per socio-cultural divergence in international countries. In such context, Boston Matrix of Starbucks product portfolio

Provide Leadership Across The Organization Management Essay

Provide Leadership Across The Organization Management Essay MacVille, as an import/ export company that sells and maintains espresso coffee machines, has plan to establish a new business center in Sydney to supplement the one already operating from Brisbane. This new venture was aligned with the overall objective and mission of the organization which was to provide espresso coffee machines that meet the efficiency, reliability and sustainability needs of the cafà ©/ restaurant clients. The establishment of the new business center would move the bulk of the organizations import/ export base to Sydney which was in line with the overall direction for the organization growth in both profits and market share. As a new venture, the MacVille has four main expected outcome which are first to help secure the three year objective of being the number one volume importer in the market for imported espresso coffee machines. Then, the objective is to achieving the strategic objective of profit margin growth of 5% in the next three year. Moreover, the organization expects to reduce the carbon footprint by 10% within the next three years. In order to achieve the objective of the organization, the self-directed teams need to be created. Therefore, the incorporate the key value of cultivating leadership in the organization is needed. MacVille aims to empower its employees with knowledge and resources to get results, grow its business and to lend the markets. The role for this new venture would carry the title General Manager which would be expected to provide creative leadership for the administration, coordination and management of the new venture in a manner that is consistent with the strategic direction of the organization. There are three positions for the general manager which are account manager, warehouse manager and maintenance manager. Interpersonal and leadership styles According to the Interpersonal style that could be applied to this setting is open, flexible, positive, and responsible which will lead to the good working environment. Otherwise, my own Interpersonal style is Helpful, Patient, Open, and Supportive which also can apply in to this setting too. In this case, the organization needs to hire new managers who will achieving the objective of the organization, so the responsible and patient are the main Interpersonal style that all the employee must have. The leadership style that could be applied to this setting is the democratic leadership style which is the leader shares with the group members, policies decision making, planning and execution of activities. Subordinates are encouraged to express their ideas and suggestions in decision making. The leader helps to develop a feeling of responsibility on the part of every member of the group gives constructive criticisms and praises the members when the group achieves a set objective. This ty pe of leader ship style will lead to high productivity and quality of work, high morale, sense of group feeling and group members feel secured and satisfied to belong. Otherwise, my own leadership style is Laizer-faire leadership style, in this style the leader is the one who believes that the group members can get on without him. The leader gives minimum guidance, and remains in the background. The result of this style of leadership is low morale and productivity, too much freedom which cause laxity, lack incentives to work. Skills and knowledge In order to manage the situation effectively, the manager and employee need to have three skills which are technical skill, Human skill, and Conceptual skill. For the Technical skill, the manager and employee should be proficient at specific tasks. This in turn helps to provide credibility or knowledge to persuade people to certain things. For Human skill, the staff has to know how to work with people. The last skill is the conceptual skill which the staff can see the organization as a whole. Moreover, the staff still need a strategy thinking skill in order to planning ahead and predicting what was going to happened. In addition, the Flexible/adaptable to change skill is the most important for the staff in the situation that the organization need to take a new venture. Compare to my skill, my own skill is also Technical skill, Human skill and Flexible/ adaptable to change skill which is similar to the case study. Professional development In order to improve the skill, the professional development opportunity and the networking opportunities timeline is need to be developed. People management For the people management, the management training courses, leadership training courses, and HR fundamentals training courses has been assists the organization by improve the skill knowledge as well as the interpersonal and leadership of both manager and employee which is the key role to achieve the objective of the organization. Moreover, the training course also helps the manager and employee to gain more experiences. General outcome Management training courses provide the management skill, supervision skills as well as management experience Leadership training courses provide leadership skill and supervision skill HR fundamentals training courses provide the HR management experience, recruitment and selection for managers experiences General management The project management training courses, and the contract law (for managers) training course has been assists the organization by improve the skill, knowledge as well as the interpersonal and leadership of both manager and employee. Moreover, the training course also helps the manager and employee to gain more experiences. General outcome Project management training courses provide project management experience contract law (for manager)training courses provide contract management experience Strategy The strategic business planning training course, innovative management training courses, sustainable business training courses, risk management training courses, information management training courses has been assists the organization by improve the skill, knowledge for both manager and employee. Moreover, the training course also helps the manager and employee to gain more experiences. For the strategic skill training course will assists the organization to provide the employee who have a knowledge and experience on the business plan and management to support the organization growth. General outcome strategic business planning training course provide developing and implementing strategy experience innovative management training courses provide innovative management experience and knowledge sustainable business training courses provide knowledge on the sustainable business risk management training courses provide knowledge on the risk management information management training courses provide information management experience and knowledge Sales and customer service The sales training courses, clients and customer service training courses, customer complaint training courses, and market training courses has been assists the organization by improve the skill, knowledge for both manager and employee. Moreover, the training course also helps the manager and employee to gain more experiences. The sale and customer service training course will assist the organization by training more sale in order to increase the profit and market share. General outcome Sales training courses provide the sale experience and sales team management experience Clients and customer service training courses- provide clients and customer service experience Customer complaint training courses provide customer complaint experience Market training courses provide marketing experience both individual and team-based Finance The finance management training courses, and accounting basics training courses has been assists the organization by improve the skill, knowledge for both manager and employee. Moreover, the training course also helps the manager and employee to gain more experiences. In this case, the finance management courses will help the company to improve the financial management. Moreover, the accounting training course will help the industry to provide the better budget plan for the business improvement. General outcome Finance management training courses provide the knowledge on financial, financial management experience Accounting basics training courses provide the basic knowledge on the accounting, account management experience, budget development experience, business case development experience Professional and Networking opportunity timeline All the opportunities and time required on this plan is based on the analyzed and evaluated staff profile. Project Cost ($) Time required (Month) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 People management Management training courses $150000 2 Leadership training courses $150000 2 HR fundamentals training courses $150000 5 General management Project management training courses $150000 5 Contract law (for manager) training courses $150000 5 Strategy Strategic business planning training courses $150000 4 Innovative management training courses $150000 3 Sustainable business training courses $150000 4 Risk management training courses $150000 4 Information management training courses $150000 5 Sales and customer service Sales training courses $150000 1 Client relationship Customer service training courses $150000 2 Customer complaints training courses $150000 3 Market training courses $150000 3 Finance Finance management training courses $150000 5 Accounting basics training courses $150000 5

Telling It Like It Is Essay -- Essays Papers

Telling It Like It Is â€Å"My country, right or wrong,† is a thing that no patriot would think of saying except in a desperate case. It is like saying, â€Å"My mother, drunk or sober.†Ã¢â‚¬â€G. K. Chesterton, The Defendant These are indeed desperate times. On September 11, 2001, America witnessed the worst act of terrorism in U.S. history. Grief-stricken, angry, and shocked, people from all over America came together in the face of tragedy and solidly affirmed their pride in the U.S.A. The outpouring of patriotism that resulted from this tragedy was astonishing. Our country came together: specific agendas were swept aside in favor of partisanship and overwhelming support for our leaders, for our institutions, for our democracy. Picking up on this trend, the media, typically a primary conveyer of culture in America, soon adopted a positive attitude towards the government. Patriotic bias, in part because of the public demand, began dictating broadcasts. In fact, the pendulum swung far over to the radical side: the media by and large accepted governmental censorship requests, ceased to question our leaders, and even began censoring their interviews, handling our nation’s institutions with velvet gloves. We championed our country, with its ideals of freedom and democracy, and in the process lost a part of our freedom and democracy. Governmental Controls Taking advantage of the patriotic fever sweeping the nation, the federal government began making â€Å"requests† of the media, asking them to censor their coverage of particular events, or to withhold information regarding the government from the public. These requests were not particularly surprising. What was startling was the by and large acceptance of these reque... ...San Francisco Chronicle, 6 Jan. 2002: D4. 7. â€Å"Day,† D4. 8. Quoted in Fred Barnes, â€Å"The Press in Time of War,† Weekly Standard 3 Dec. 2001: 31. 9. Hurst A8. 10. Michael Hoyt, â€Å"Journalists as Patriots,† Columbia Journalism Review 40.4 (2001): 4. 11. â€Å"Veteran CBS News Anchor Dan Rather Speaks Out on BBC Newsnight Tonight,† BBC News Press Release, 16 May 2002 http://www.bbc.co.uk/pressoffice/pressreleases/stories/2002/05_may/16/dan_rather. shtml. 12. Barnes 31. 13. Barnes 31. 14. Alterman, Eric, â€Å"Patriot Games,† Nation 29 Oct. 2001: 10. 15. Campbell 540. 16. Campbell 258. 17. Alterman 10. 18. Alterman 10. 19. Hurst A8. 20. Campbell 544. 21. Campbell 544. 22. Campbell 560. 23. Alterman 10. 24. Qtd. in Silverglate, A21. 25. Hurst A8. 26. Hurst A8; Barnes 31. 27. Hurst A8. 28. Barnes 3.