Burger King Operation Strategy Analysis

Burger King Operation Strategy Analysis Operation Strategies Todays operation managers must have a global view of operation strategy. As the barriers such as cultural, religious, political that constrain the productivity across the countries disappear, simultaneous advances are being made in technology, reliable shipping, and cheap communication. The unsurprising result is the growth of world trade, global capital markets, and the international movement of people which drive the globalization. It is not surprising that fast food sales are doing so well in this generation. Fast food is a fast and inexpensive food choice for everyone no matter youngster or elder. Although there are many criticisms about the fast food, they remain favorites from the consumers around the world. They have more than 12,000 restaurants in all 50 states and in 73 countries and U.S. territories worldwide. Burger King known as the second largest fast-food chain around the world which is a reputation of which they should be proud. Understand the Environment (SWOT) There are many fast-food restaurants around the world such as McDonalds, KFC, and Wendys. Burger King knows that the potential competitor which is the McDonalds, serve the similar foods as hamburger. McDonalds are doing the multidomestic strategy that can maximize the response to the local market. Besides that, McDonalds have a lot of services and promotions such as the McValue meal, McDelivery, Drive Thru and others. McDonalds are also welcomed by everyone and recognize as the largest fast-foods burger chain. The strengths of the Burger King may include wide selection of menu items and fast and efficiency services. Burger King offers different varieties of menu items and choices for the consumers. It also has a different process in order taking and preparing the orders of the customers. One is where the customers order and one is where the customers collect their foods. This process of order taking and serving is considered very fast and efficient. In contrast, the weaknesses of Burger King are not able to communicate with the customers. It has lesser promotions or advertisement in compare with other fast-food chain. On the other hand, there are the opportunities for Burger King to expand their business internationally. In year 2007, Burger King opened 441 new restaurants around the globe. It also entered into other countries such as Indonesia, Japan, and Egypt. This is the benefit for the company to seek more profit. However, there are also some threats for the company such as potential competitors. Burger king is considered as the second larger fast-food chain next to McDonalds. Price wars, product innovation and growth strategies have increased the competition. Consumer health expectation also another threats for the fast food chain. In this generation, people more concern about the health. Consumers are demanding quality, healthier menu items. Missions An effective operations management effort must have a mission so it knows where it is. The mission states the rationale for the organizations existence and provides the boundaries and focus for the organization and the concept around which the firm can rally. Burger King Corporations mission is: The Burger King Corporation moves proudly into the future with over 50 years of experience tucked safely under our belt. As a brand, our company has never been stronger. Weve got millions of customers, who we love to bits. And our Executive Team, along with each of our individual employees, ensures our customers always receive exceptional, consistent service (as well as burgers, fries and drinks.) The mission statement states that the operations need to fulfill the customers needs, exceed the customers satisfaction and expectations. Besides that, we also found that the values of Burger King (Malaysia) are fairness, diversity, respect, caring, clear accountabilities, teamwork, high standards, commitment to excellence, celebrating their successes. These provide an environment and ethics which can encourage the employees to work with fully commitment. Competitive Advantage and Strategy With the mission established, strategy and its implementation can begin. Strategy is an organizations action plan to achieve the mission. Burger King has employed the differentiation strategies to enhance its profit. The Have It Your Way slogan has encouraged the company to differentiate their products and services. Some of its innovative products are BK Chicken Fries, BK Stacker, BK Value Meal and BK Breakfast. Thus, consumers are given more choices. Furthermore, the efficient services also make customers experiencing the unique dining ways. Besides that, Burger King also competing on response. The drive-through and delivery services promote the quick and flexible response to the customers. Franchising strategy also helps to offer different foods to customers. We explored that Burger King Corporation employed the franchise strategy to expand their business and enhance the profitability. The advantage of this strategy is maximizing a competitive response for the local market. Burger King provides different menus and foods in different countries. For example, American need to eat more in a meal, so the Burger King has served the Double Whopper, Triple Whopper, BK Quad Stacker, which are larger and larger. In addition, Burger King also serves the foods according to the common favor of the citizens. Besides that, for the Burger King Malaysia, they serve the halal foods. Furthermore, vegetarians have been avoiding taking the fast-food; however, in response to the vegetarians, Burger King also has served the BK Veggie which is a vegetarian soy-based meatless sandwich that is served at Burger King Restaurants. Burger King was also the first to offer the drive through services which can make the customers much more convenient to take away their fo ods. It also helped the company can operate in more effective and efficiency manners. All these strategies can have a quick response to the local demand and expectation in order to enhance the profitability. Moreover, this is also the key success factor for Burger King because of the ability to explore the new market and survive for longer time. Some of the Strategic Operation Decisions In the products and services design section, as mentioned earlier, Burger King has designed the products which meet the customers expectations and needs such as the BK Veggie, halal food and others. Burger King also has designed the efficient services such as the drive through. After that, when going into the process, Burger King adopts the make-to-order approach to produce the goods and provide the services. Burger King can customize the products because it builds sandwich one at a time rather than batch-process them. For instance, meat patties will be holding in the steamer after being grilled until an order comes in. Then, the patty is taken out from the steamer and then is added the requested condiments. Finally, the completed sandwich chutes to a counter worker, who gives it to the customer. In contrast, many of Burger Kings competitors, such as McDonalds, apply the make-to-stock. They made a batch of sandwiches in one time with the same ingredients. If a customer wants a sandwich without lettuce, he or she needs to wait for another batch of sandwiches for extra several minutes; however, Burger King can make it in several seconds. Besides that, as a service provider, one must unceasingly look for ways to improve operational efficiency. Burger King has introduced a series of innovations that have helped make the company more efficient and profitable throughout the half century history. For example, Burger King was the first who initiated the drive through service. Location selection is the most important issue when starting or expanding a service business. A poor location can cost the owners and customers because of inaccurate estimation for demand and therefore influence the quality. The first consideration for selecting the location is the ability to attract the customers. The favorite catchphrase for looking a spot for expanding the business which is used by the Burger Kings planners (United States) is Through the light and to the right. In picking a location, Burger Kings planners execute a detailed analysis of demographics and traffic patterns. The most important consideration is the number of cars or people pass by and the population at the specific area. In the United States, Burger King finds for busy intersections, interstate interchanges with easy off and on ramps. Besides that, crowded areas as shopping malls, tourist attractions, downtown business areas, or movie theaters were also the primary concentration for location selection. Public transportation which is very common in Europe makes the planners focus on the subway, train, and bus stops also. Furthermore, for the size and layout option, it is also important for the operation which the size and layout must be designed to attract the customers and make them more convenient while buying, serving, dining, storing and others. In the first three decades, each Burger Kings restaurant had about four thousand square feet of space. Yet the planners decided to reduce the space to continue growing and to meet the customers expectations because the customers tended to be in hurry, and more customers preferred the convenience of drive-through instead of dining in. So, the restaurant trims the size of a restaurant from four thousand square feet to as little as one thousand. The reduction of size had enabled the company to enter the markets that were once cost prohibitive such as airports, center-city areas and even schools. On the other hand, forecasting demand for capacity design is easier for Burger King. Burger King can estimate the sales for a new restaurant by combining its knowledge of customer-service patterns at existing restaurants with information collected about each new location, including the number of cars or people passing the proposed site and the effect of nearby competition. Service organizations emphasize on scheduling workers because of the stability and availability to handle the fluctuating demands. Burger Kings managers not only schedule the workers for peak period such as the three main meal time which are breakfast, lunch and dinner, but also arrange enough workers for other period in between. If the managers staff too many people, labor cost per sales dollar will be too high. If there arent enough employees, customers have to wait in lines. This phenomenon will discourage the customers and make the owner loss the customers and sales. That will also influence the reputation of a company. Scheduling is made easier by information provided by a point-of-sale device built into every Burger King cash register. The register keeps track of every food items sold by the hour, every hour of the day, every day of the week. Thus, to determining the staffing levels for a specific time, managers can set it based on the data provided. Each manager can adjust this forecast to account for other factors, such as current marketing promotions or a local sporting event that will increase customer traffic. Moreover, to do a business, everyone will worry about the inventory control problems such as high holding cost or shortage of inventory that will alter the smoothness of operations. Burger King Corporation has used the technology system which is the point-of-sale registers to track everything sold during a given time and lets each store manager know how much of everything should be kept in inventory. It also makes it possible to count the number of burgers and buns, bags and racks of fries, and boxes of beverage mixes at the beginning or end of each shift. Due to there be fixed numbers of materials or supplies in each box, employees can count boxes and multiply easily. In a consequence, manager also can detect the theft quickly. Ethics and Social Responsibility Burger King Corporation defines corporate responsibility as a strong bottom line to consider the impact of everything they do. These are also the guideline for the company to follow to make sure their business can do well. There are four corporate responsibilities which are commitment to food, commitment to people, Care for the environment and corporate governance. For the commitment to food, Burger King Corporation promises to customize and design more menu options for the customers to meet the individual diets and lifestyles. They will continue to explore the new ways to make their food innovative as well as nutritious. On the other hand, Burger King Corporation also promotes commitment to people. They will continue to distinguish themselves from the competitors by being an exceptional employer. They will accomplish this goal by creating a culture that is bold (innovative thinking), accountable (responsibility to shareholders and franchisees), empowered and fun (commitment). Furthermore, there is also an important issue which is care for the environment. Burger King Corporation also continues to make changes that will be a positive on the environment. They are researching ways to deliver consistent policies and practices across all of their operations globally. They have begun holding Burger King Green Sessions for employees, members of supply chain and others. Furthermore, as importance, Burger King Corporation has committed to purchase beef from suppliers that source only beef that has been raised in environmentally responsible ways. As a result, none of our beef comes from recently deforested tropical rainforests. At last, Burger King Corporation will continuously reinforce their policies and procedures to ensure compliance with the law as well as openness and accountability. Conclusion As conclusion for the operation strategies of Burger King, we found that Burger Kings operations are focusing on the customers site. They always consider about the expectations and demands of all customers include the vegetarians, kids and others. They also provide the efficient services. Both of this can enhance the profit and reputation of the Burger King. In my opinion, this is the potential strengths and strategies of Burger King and that is also a big opportunities to expand their business due to the innovative thinking that will always offer the new products that are welcomed by everyone.

Academic Streaming Debate

Good evening chairman, ladies and gentlemen. The topic for our debate is that we should ban academic streaming in schools. We the negative team believe that this should NOT happen. Before I get into the topic at hand I would just like to rebut some of the opposition’s points: Our first speaker Nevin has already stated the academic benefits of streaming, and now I would like to focus on the social benefits. Today I will be talking to you about how streaming can positively affect students self-esteem and also their motivation.Now to my first point: A student’s low self-esteem has a significant impact on almost everything he or she does, it effects the way they interact with others, the way they engage in activities, and as Dr. Ken Shore’s, Classroom Problem Solver states, even has a marked effect on academic performance. Even as the affirmative team may say, that streaming labels students, causing them to have low self-esteem, this is not the case.Even in mixed abi lity classes students know where they stand, if they are excelling or even if they are struggling they will know how they are doing if it’s from test grades or just from observing the classroom. In comparison to streamed classes where Professor Liu Woon Chia has proved through examinations that streaming is beneficial as it has a ‘big fish in a little pond’ effect. Secondly streaming helps motivate students as it increases the level of competition between the students.In a class, which has a mixed group of students, the smart student always comes first in the class. He does not have enough motivation to improve himself. He has to have self-motivation, which is sometimes hard to find. However, if he is in a class of smart students, he works hard because of the competition other students give him. This has the same effect to all students no matter of what academic ability.This effect keeps all the students academically improving, in contrast to a mixed-ability clas s where the students could stay stagnant, as there is very little or too much competition. So chairperson, ladies and gentlemen, I conclude that academic streaming should not be banned as assigning students to classes according to academic performance helps motivate students to achieve there very best as well as the fact that streaming is good for a students self-esteem as it will not make them feel as they are struggling and will push them to achieve their personal best. Thank-You.

Aristotelian Ethics and its Context Essay - 6933 Words

Ethics as Politics: On Aristotelian Ethics and its Context ABSTRACT: This paper argues that the assertion of Nicomachean Ethics I.ii that the art that treats of ethics is politics is to be understood properly not in the sense of politics qua nomothetike but just as politike, i.e., direct, participatory politics as was enjoyed in the Athenian polis and as the formed background to Aristotle’s philosophizing on the nature of ethics. The ethical import of politics can be retrieved from Aristotle’s Ethics (in both versions) and Politics by dwelling on the connection of eudaimonia and humanity’s function as such. Aristotle does not construe this function as contemplation but rather as the practical application of reason-reason leading to†¦show more content†¦In a word, I suggest that increasingly for us (as for republican antiquity) ethics expresses itself as politics, by which I emphatically do not mean ethics is ideological politics, but ethics increasingly expresses itself for us as direct, participatory politics. (2) In saying that ethics expresses itself as politics I mean that political activity itself, not the policies or institutions it seeks to implement, functions as ethical ground. Aristotles Nicomachean Ethics commences with the—for moderns—startling suggestion that the art that treats of ethics is politics. (3) While Aristotle does not immediately make plain the sense in which politics is authoritative and architectonic for ethics, he later (Book VI.viii.l/2; 1141b25) specifies it as nomothetike, i.e., the legislative (or better, constitutional) branch of politike. 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What Is the Kitchen Work Triangle

The goal of the kitchen triangle, the centerpiece of most kitchen layouts since the 1940s, is to create the best work area possible in this busiest of rooms.   Since the three most common work sites in the average kitchen are the cooktop or stove, the sink,  and the refrigerator, the kitchen work triangle theory suggests that by placing these three areas in proximity to each other, the kitchen becomes more efficient. If you place them too far away from each other, the theory goes, you waste a lot of steps while preparing a meal. If they are too close together, you end up with a cramped kitchen without adequate space to prepare and cook meals. But the kitchen triangle concept has faded from favor in recent years, as its become somewhat outdated. For instance, the kitchen triangle is based on the idea that one person prepares the entire meal, which isnt necessarily the case in 21st-century families.   History The concept of the kitchen work triangle was developed in the 1940s by the University of Illinois School of Architecture. It began as an attempt to standardize home construction. The goal was to show that by designing and building a kitchen with efficiency in mind, overall construction costs could be reduced.   Kitchen Work Triangle Basics According to design principles, the classic kitchen triangle calls for: Each leg of the triangle to be between 4 and 9 feetThe total of all three sides of the triangle to be between 12 and 26 feetNo obstructions (cabinets, islands, etc.) should intersect a leg of the work triangle, andHousehold traffic should not flow through the work triangle. In addition, there should be 4 to 7 feet between the refrigerator and sink, 4 to 6 feet between the sink and stove, and 4 to 9 feet between the stove and refrigerator. Problems With the Kitchen Triangle Not all homes, however, have a kitchen large enough to accommodate a triangle. Galley style kitchens, for instance, which place appliances and prep areas along a single wall or two walls parallel to each other, dont offer many angles at all. And open concept kitchens which are popular with newer-style construction often dont require such uniform layout. In these kitchens, the design tends to focus less on a work triangle and more on kitchen work zones that may even spill over into the dining or living areas. One example of a work zone would be placing the dishwasher, sink, and trash can close to each other to make cleaning up easier. Another problem with the kitchen work triangle, especially among design purists, is that it often violates the principles of feng shui home design. The kitchen is one of the three most important rooms in the home as far as feng shui is concerned, and a major no-no of feng shui is positioning your oven so that the cooks back is to the door of the kitchen. The cook is considered vulnerable in this scenario, which does not lend itself to the harmonious atmosphere feng shui seeks to create.

Research Paper On Repiping - 863 Words

Repiping | Plumbing Arlington If you are tired of consistent water leaks, low water pressure and/or discolored water, repiping is the solution for your homes plumbing in Arlington, TX. Mister Sparky plumbers in Arlington, TX have the training, skill and latest technology for providing for your plumbing needs. Discolored Water Galvanized pipe is steel pipe still found in numerous older homes. Originally coated with zinc to prevent corrosion, over time the zinc erodes leaving the steel to rust from the inside out. Exposure to hard water, water with a heavy mineral presence, can accelerate the process. Eventually, due to the presence of rust, corrosion and the clogging due to minerals, water may be discolored, have an unpleasant taste, and†¦show more content†¦How long it will last depends on the grade and thickness of the pipe as different grades are available. Furthermore, the chemistry of the water it delivers can affect its lifespan. By selecting a quality grade of pipe, and choosing a qualified licensed plumber for installation, you will assure a better outcome for your homes plumbing in Arlington, TX. Polybutylene As with galvanized pipe, polybutylene is an outdated form of plumbing. Polybutylene was an economical choice used between 1978 and 1995 in both homes and underground water mains. It has a history of causing extensive and costly damage to structures, typically failing without warning. Once you have your home repiped, plumbing generally lasts an extremely long time, polybutylene is an exception. When your home contains polybutylene piping, replacement is highly advised. Contact a Ben Franklin plumber to schedule repiping of your homes plumbing in Arlington, TX. PVC and CPVC Pipe PVC and CPVC is a type of plastic pipe with an established reputation of reliability when installed properly. The joints are glued, rather than soldered as in copper pipe. As with soldering, proper joining is necessary to ensure reliability. It is not recommended to install PVC or CPVC in outdoor locations exposed to the suns ultraviolet rays, or in locations where it is vulnerable to freezing. PEX Pipe PEX pipe is the newest plumbing solution. PEX is an extremely flexible plastic pipe, and utilizes crimped connections rather than

Impact of Globalization Trends on Education Structures and Policies Free Essays

Introduction Globalization is a widely discussed and contested topic. The process of globalization has profound impacts on the capacity of a nation to formulate its policies. It is accompanied by a seemingly endless process of change within education (Peters, 1992). We will write a custom essay sample on Impact of Globalization Trends on Education Structures and Policies or any similar topic only for you Order Now Globalization is one main issue that is increasingly attracting the attention of most academicians, researchers and policy makers. It has gained relevance in the context of higher education. Education is an important driver of growth and poverty reduction. Education policies have been in existence for quite some time and have played an important role in the development policy. The most recent wave of globalization is likely to have profound effects on education structures and policies across the world. What is globalization? ‘Globalisation’ is a term that describes the process of integrating societies by removing legal, political and geographical constraints (Trowler, 1998). Vulliamy (2004) describes it as a process which is rapidly integrating the world into one economic space via an increasingly networked global telecommunication system. A study by Tikly (2003), suggest globalization as an inevitable and largely irresistible phenomenon that contains opportunities and threats for national development. Globalization is therefore seen to be concerned principally with integration into global and regional markets underpinned by technologies Although internationalization is not new to education policies, the forces and tensions under the umbrella concept of globalization constitute dramatically different environment in which education institutions and policy makers operate in (Marginson, 1999). The changes to which education structures in UK and around the globe is exposed are complex and varied (Marginson, 1999). Nonetheless, the globalization concept indicates that these changes are somehow interrelated. For the purpose of this analysis, we will stress the following tendencies within the overall force of globalization: †¢ Restructuring of the economic world system due to rapid integration of the world economy resulting from a transformation to a post industrial knowledge economy and increasingly liberalized trade and commerce. †¢ Rise of network society due to technological advancements and the expansion of the internet †¢ Increasing virtual mobility of people, knowledge and capital resulting from the development of new transport facilities, expansion of the internet and increasingly world integrated community †¢ Complex cultural developments whereby we have an increasing cultural exchange and multicultural reality on the one hand of homogeneity and cultural differentiation and segregation on the other hand. †¢ Erosion of the nation state and a widening of the gap between socio-political regulation and economic activity. Such is the nature and complexities of forces associated with globalization. These forces define the social environment in which education structures and policies operate in (Green, 1999). Further, these forces condition the context in which education policies and structures have to operate and profoundly alter people’s experience of both formal and informal education (Green, 1995). For example, most institutions are transformed to become targets of corporate expansion and sites for branding. A more detailed explanation will be discussed below. Impact of globalization on education structures and policies Globalisation has profound impacts on education structures and policies. The impact is profound but also diverse, depending on the locality within the global arena. While there is often a danger of oversimplification and generalisation when dealing with globalisation, diversity has to be recognised and promoted to a certain extent. Various views have been expressed in literature with regard to the impact of contemporary globalization on the processes and structure of education worldwide. 1. Direct impacts on both the curriculum and pedagogy Carnoy (1999) suggests direct impacts on both the curriculum and pedagogy. There is little evidence however to support such an assessment. Whilst attempts have been made to inject global awareness on school curricula in western industrialized countries, these have generally remained very low status add-ons. Carnoy (1999) continues to argue that whilst the direct impacts on pedagogy and curriculum are limited, the more general influences of economic restructuring and political ideologies are immense. For instance, globalization is putting considerable premium on highly skilled and flexible workers in an organisation hence increasing the demand for university education. 2. Emerging ‘bordeless’ higher education market The most visible manifestation of globalisation in the education sector is the emerging ‘bordeless’higher education market. Globalization leads to huge increases in worldwide demand for higher education through opportunities created by the internet and new communication technologies which in turn shape an environment in which providers can expand their supply of educational facilities (Breier, 2001). Universities from Australia, North America, Europe and England are reaching out their educational provisions to the international market by actively recruiting international students through establishing branch campuses or via distance education, e-learning and other transnational activities (Breier, 2001). These increasing demands bring new providers into the market. The business of borderless education comprises various forms and developments including the emergence of corporate universities, professional association that are directly active in higher education, and media companies delivering educational programmes among others (Alao Kayode, 2005). These new providers extensively use the Internet and ICT as a delivery channel. 3. Erosion of national regulatory and policy framework Globalization is also associated with the erosion of national regulatory and policy frameworks in which institutions are embedded (Slattery, 1995). The policy framework is subject to erosion in an increasingly international environment marked by globalizing professions, liberalized market place, mobility of skilled labour, and international competition between institutions (Slattery, 1995). Most institutions acknowledge this and thus develop consortia, partnerships and networks to strengthen their position in the global arena. Schemes such as the European Credit transfer system and mobility programmes such as UMAP and SOCRATES can be developed to stimulate internationalization in higher education with respect to the various national policy frameworks (Dearden et al, 2002). There is need for an international regulatory framework that transcends the eroded national policy framework and steer to some extent the global integration of higher education system. 4. Create new and tremendously important demands and exigencies towards universities as knowledge centre’s Consequently, globalization creates new and tremendously important demands and exigencies towards universities as knowledge centers (Dearden et al, 2005). Research and development is crucial in any knowledge and information driven society. Globalization of research and development leads to a more mobile and highly competitive international market of researchers. Moreover, universities are called upon to take up responsibilities in the society, deepen democracy, act as mediators and to function as centre’s of critical debate. These higher demands placed upon them create tensions in institutions and stimulate other organizations to engage in such kind of activities. 5. Increasing demand for higher education worldwide Finally, the continuing trend of globalization is expected to increase the demand for higher education worldwide. In the developed world, the society will always ask for highly qualified and flexible workers. Modernization, economic development and demographic pressure increase the demand for higher education in most parts of the world (Blanden Machin, 2004). Governments and local institutions generally lack enough resources to deal with the increasing demand hence leaving an unmet demand to the international and virtual providers. This demand not only grows quantitatively but also becomes more diverse. The internet together with new technologies are increasingly providing new opportunities for more flexible delivery of higher education, thus increasing demand in some countries and meeting demands in others where traditional institutions have failed. These developments brought by globalization underpin the assertion that higher education will emerge as one of the booming markets in future (Blanden Machin, 2004). The need for an international regulatory framework There is a big difference in the way countries deal with private universities and transnational higher education. Greece and Israel, for instance, rarely recognize their diplomas and degrees (Blanden, Gregg Machin, 2005). While other countries residing in the developing world such as Malaysia recognize their incapacity to meet the increasing demand and thus welcome foreign providers (Blanden, Gregg Machin, 2005). Principally, there is no reason to oppose a positive and open attitude towards transnational higher education and private universities. In modern policy approach, it must be recognized that private and transnational institutions are also capable of fulfilling public functions. Despite the fact that traditional higher education institutions have a specific tradition and academic culture to defend, it should be amenable to competitors from diverse backgrounds. It therefore becomes imperative to have in place international and sustainable policy framework that deals with private and transnational providers. Conclusion The globalization trends are leading to a wide spread changes that are impacting on education worldwide. Nation states acknowledge this and have developed reforms to their educational systems in response to modernizing ideas and international trends. It should be noted that globalization represents a new and distinct shift in the relationship between states and supranational forces and that its impact on education is profound in a range of ways. Whilst this analysis does not present an exhaustive listing of the impact of globalization on education, it does bring out key dynamics and highlight important areas of action for academicians and policy makers with respect to globalization. (1557 words) Reference Alao Kayode (2005), Emerging Perspectives on Educational Assessment in an Era of Postmodernism, Commissioned paper presented at 31st Annual conference on International Association for Educational Assessment. Blanden.J.P., Gregg Machin.S (2005), Educational inequality and intergenerational mobility, The economics of education in the United Kingdom, Princeton, Princeton University press. Blanden.J Machin.S (2004), Educational inequality and the expansion of UK higher education, Scottish Journal of political economy, Vol 54, PP.230-49 Breier.M (2001), Curriculum Restructuring in Higher Education in Post-Apartheid South Africa, Pretoria Carnoy (1999), Education, globalization and nation state, Oxford, Oxford university press Dearden.L, Emmerson.C, Frayne Meghir.C (2005), Education subsidies and school drop-out rates Dearden.L, Mcintosh.C, Myck.M Vignoles.A (2002), The returns to academic and vocational qualifications in Britain, Bulletin of economic research, Vol 54, PP. 249-75 Green.A (1999), Education and globalization in Europe and East Asia: convergent and divergent trends, Journal of education policy, Vol 14, pp.55-71 Green.M.F (1995), Transforming British higher education: a view from across the Atlantic, Higher Education, Vol 29, pp.225-239 Marginson.S (1999), After globalization: emerging politics of education, Journal of Education Policy, Vol 14, pp.19-31. Peters M (1992), Performance and Accountability in ‘Post-industrial Society’: the crisis of the British universities, Studies in Higher Education, Vol 17, PP.123-139. Slattery, P. (1995) Curriculum development in the post modern era, New York, Garland Publishing Tikly (2003), Globalisation, knowledge economy and comparative education, vol 41, pp. 117-149 Trowler P.R (1998), Academics responding to change: new higher education frameworks and academic cultures, Buckingham, Open University Press. Vulliamy.G (2004), the impact of globalization on qualitative research in comparative and international education, journal of comparative and international education, Vol 34, pp.261-284 How to cite Impact of Globalization Trends on Education Structures and Policies, Essay examples

Economics for Sustainable Business Electronic Vehicles

Question: Discuss about the Economics for Sustainable Business for Electronic Vehicles. Answer: Introduction Electronic vehicles use electrical energy in place of fuels to provide the equivalent services as other automobiles that run on fuel. Electric cars are considered quite efficient in dealing with the rise in the cost of fuels along with the reduction in air pollution. The market for electric cars in Australia has not been developed enough to raise the demand among the customers and analyse the social benefits that could be redeemed from it. This essay aims at analysing various economical theories in accordance to theory of demand, supply, elasticity and government intervention. These economic theories would help in analysing the market for the electric cars in the country. The essay helps in analysing various factors that affect the demand and supply of the electric car market in Australia by taking price elasticity of demand for the cars into consideration, along with government taxation, the cost and the revenue structure of the dealers in the market and future prospects of growth of the referred market. The analysis is followed by a conclusion that would help in stating the overall analysis of the research that has been considered in the essay. Electric Car Market Price Elasticity of Demand According to Baumol Blinder (2015), the law of demand states that with the rise in the price of the product, there is a fall in the demand of the product fall in the price of the product; there is a rise in the demand for the product. Hence, it states that there is a negative relationship between the demand of the produce and it price. This results in a downward sloping demand curve. The rate at which the demand for the product changes with the change in its price is known as the price elasticity of demand (Frank, 2014). Commercial buyers have a relatively inelastic demand for electric cars. Hence, the buyers do not change their demand greater than the change in its price. Price elasticity of cars for individual buyers is relatively elastic in nature (Nicholson Snyder, 2014). It states that the proportional change in demand for electric cars is more than the change in the price of the product. This can be illustrated with the help of the following diagram. Figure 1: Price Elasticity of Demand (Source: As Created By Author) In figure 1, D is the downward sloping demand curve, which is elastic in nature. The demand curve is flatter, which states that the proportionate change in the demand for electric cars is greater than the proportionate change in price. Electric cars are costlier than the cars that run on fuels. Hence, with the rise in price of electric cars from P1 o P2, the corresponding quantity demanded of the product falls from Q1 to Q2. The fall in the demand of the product is greater than the rise in its price. Hence, it could be inferred that the individual demand for electric cars reduces to a certain degree. Effect of Taxation Luxury car tax (LCT) is a tax on cars with a GST-inclusive value above the LCT threshold. LCT is imposed at the rate of33% on the amount above the luxury car threshold (Individual income tax rates, 2016). LCT is paid by businesses that sell or import luxury cars (dealers), and by individuals who import luxury cars. Electronic cars are costly in nature, yet these cars are not bought to raise the status of the buyer. Electronic vehicles help in sustaining the negative impacts on air pollution of the particular country. Hence, the government of other countries uses a tax-offset incentive on the purchase of electronic cars. In Australia, the government does not provide such provisions. The incidence of tax on the buyers and sellers of electric vehicles could be analysed with the help of figure 2, below : Figure 2: Incidence of Tax (Source: As Created By Author) In figure 1, the demand curve faced by the individual buyers of electric cars is relatively elastic in nature. As price with tax with fixed at Pt, there is a fall in the quantity demanded, from Q to Qt. According to the diagram above, the area which is marked blue shows the incidence of tax on the buyer, whereas, the green area shows the incidence of the tax on the producer. Hence, it can be easily seen that the incidence of tax is more on the producers concerning the tax on electric vehicles. Cost and Revenue Structure of the Dealers Supply of a particular product is determined by various factors, among which cost of raw materials play a vital role for the producers. There is a negative relation between the cost of raw materials and the quantity supplied of a particular product (Rader, 2014). In order to build electric cars, the cost of production for the dealers is much higher than that of normal vehicles. This would state that the dealers would not be willing much to produce the product. Moreover, the servicing cost is quite low in comparison to the traditional petrol and diesel cars. This would instigate lesser chances of revenue in the long run, after the car has been bought by the individual. Hence, the dealers do not want to sell electric vehicles. Future Prospects of the Market Future prospects of a particular product depend upon the future demand and supply patterns of the particular product (Varian, 2014). Electric cars constitute various positive effects in relation to the environment. This shows that the product would be quite favourably affected with respect to demand of the product. Till now, the product has no close substitutes with respect to its environmental friendly attributes. Traditional cars are cost friendly on being compared to EVs . Hence, the effect of the substitutes would not be much for this market as it has some unique beneficial attributes. With the awareness programs being generated in a country, there is a tendency of achieving a positive gain in the demand of EVs as the consumers are of the mentality of achieving safer environment (Bernanke, Antonovics Frank, 2015). Government would be helpful in raising the demand by removing the tax to be paid for purchasing an electric car. Conclusion and Recommendation Electronic vehicles are eco friendly automobiles that would help in achieving a safe and clean environment of the country, free from pollutants. The cost of electric cars is much greater than the traditional cars run on fuel. Hence, this has achieved a relatively elastic demand curve. The cost of production of these cars is much greater, which reduces the potential of the producer to produce such cars. Moreover, the government in Australia charges tax on the purchase of electric cars, unlike the government of other countries. Reduction in the cost of the cars is possible only when government provides subsidies to the producers of electric cars. This would reduce the price and raise the demand for such cars. Creating awareness among the customers for pertaining a healthy environment, free from air pollution for the society would help the people being citizens that are more responsible. This would help in maintaining a better future market for the electric cars in Australia. Reference Baumol, W. J., Blinder, A. S. (2015).Microeconomics: Principles and policy. Cengage Learning. Bernanke, B., Antonovics, K., Frank, R. (2015).Principles of macroeconomics. McGraw-Hill Higher Education. Frank, R. (2014).Microeconomics and behavior. McGraw-Hill Higher Education. Individual income tax rates. (2016). Ato.gov.au. Retrieved 28 December 2016, from https://www.ato.gov.au/rates/individual-income-tax-rates/ Nicholson, W., Snyder, C. M. (2014).Intermediate microeconomics and its application. Nelson Education. Rader, T. (2014).Theory of microeconomics. Academic Press. Varian, H. R. (2014).Intermediate Microeconomics: A Modern Approach: Ninth International Student Edition. WW Norton Company.