Global economic and lobal recession Essay Example | Topics and Well Written Essays - 1750 words

Global economic and lobal recession - Essay Example Since the 2008 global economic crisis the airline industry was severely affected by reduced business revenues as the market adjusted to difficult economic times. Commercial and private travel costs had to be reduced in order to keep in touch with the economic realities that global performance had dipped into. Many related industries such as the motor vehicle industry were also severely hit to liquidation, which illustrates the magnitude of the threat that the industry faced. As a result of the reduced fortunes and opportunities in the industry and many national economies in general, governments had to chip in their protectionist policies against adverse impacts on the economy. As a result, there was an increase in government debt particularly in European economies that have had adverse impact on the integrity of the industry as an aftermath of the recession. The banking sector which impacts directly on the performance of most industries was also hit during the recent economic crisis and until full stabilization occurs, operation certainty remains elusive in the airline industry. According to Niththyananthan (1), the domestic market in the whole of Europe is particularly affected by the proceeding in the banking sector to such an extent that business operations are conducted with extra caution. This explains the huge national bailout pleas that certain economies in Europe have been forwarding to the IMF and the European Union, since their economies were severely affected.

Report of Electronic Commerce Essay Example | Topics and Well Written Essays - 1000 words

Report of Electronic Commerce - Essay Example A conclusion will then summarise the findings and present the final thought. E-commerce is buying and selling of goods and services online, usually through the internet (Information System Audit and Control Association, 2006, p.218 - 222). Global electronic commerce revenue for 2000 was in the region of $286 billion; a figure which was expected to increase to $500 billion in 2001 and to $3 trillion by 2004. 'According to Interactive Media in Retail Group (IMRG), an industry body for electronic retailing, British online retail sales rose by more than 60% from a year earlier in June 2006, totaling 2.26bn that month. British online retail sales totaled 13.5bn in the first half of 2006, according to IMRG' (Global Technology Forum, 2006). This rapid increase reflects the fact that electronic commerce has a number of advantages over paper-based commerce: in particular, speed and reducing the cost of doing business. E-commerce allows organisations to reach to a wider range of audience than what a traditional brick-and-mortar shop can ever do. With e-commerce, companies can serve globally. The entire world becomes the target market depending on the type of business. For a book store like Glasgow Books, this presents an opportunity to extend to not only in Glasgow but throughout Scotland and perhaps in other parts of Europe as well, with passage of time. Availability An online shop is open 24 hours a day, 7 days a week and 365 days a year. The customers can read about the books, and can make transactions any time they like, through the comfort of their homes, without having to physically come to the shop for making purchases. Low Costs In the long run, technology costs to establish an online book store is much lesser than what it must spend to maintain a physical store. The cost of advertising and marketing over the internet is minimal. Customer Relationship Management E-Commerce solutions provide an effective way to keep in contact with customers, record customers' likes and dislikes, and develop a targeted marketing campaign as per the customers' tastes and wants. For example, Glasgow Books, by using an e-commerce system, can keep records of customers' preferences for books and can contact customers as and when new editions and/ or new books relating to that particular subject arrive. Accurate Armour, a manufacturer of military models, developed their website in 2003 when