International economics - Balance of Payments Coursework

International economics - Balance of Payments - Coursework Example The transactions of imports and exports done by United Kingdom can be in terms goods, services, financial transfers and financial capital. According to park if the sovereign payments are greater than autonomous receipts, the balance of payment will at disequilibrium. A country like United Kingdom which is experiencing balance of payment deficits in its current will be required to make up an increasing financial debt so that it posses more foreign assets (Park 2004, p. 122). Basically there are three types of balance of payments deficits. They include visible trade deficit, basic deficit and current account deficit. There are four in which United Kingdom measures its current account deficit. They include the net current income for example income from overseas investment, the balance of trade in goods, transfer of payments for example payments made to European Union and lastly the balance of trade in goods. The other factors that causes imbalance in balance if payment apart from the fall of value in pound include, A decrease in the current account is caused by a period of consumption led economic increase or growth. If consumption and consumer spending is increased within the United Kingdom, it will lead automatically to an increased expenditure on imports (Park 2004, p. 31). Given in 2011 and 2010, the domestic economy was experiencing massive growth with an increased consumer spending and inflation. This caused to a large gap of deficit on the current account. Recently recession has led to a temporary improvement in the deficit after most consumer cut back on their spending. A nation with individuals and firms saving lowly with a high percentage of consumption will automatically also have a higher current account deficit hence causing disequilibrium of balance of payment. The relative competitiveness of industrial production of

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

Unions - Research Paper Example Furthermore, the organization is committed towards advancing their mission by engaging local communities, collective bargaining, organizing and political activism through the efforts of their members (American Federation of Teachers, 2012). Although, AFT members do not work in core industrial environment, there are numerous hazards involved due to the complex situations that they work in. Teachers have greater possibilities for respiratory infections and work related asthma. Furthermore, it has been observed that many paraprofessionals leave the organization citing voice disorders. Moreover, renovation of schools, internal air quality and cleaning chemicals relatively affect the health systems of various members in the workplace (American Federation of Teachers, 2012). A Washington DC based organization First Class Education (FCE), introduced a ‘65 percent solution’ scheme, which needs to be maintained compulsorily by schools of all states. The scheme endorsed all schools to spend 65% of their budgets on ‘classroom instruction’. However, the members of AFT feel that the scheme will adversely affect schools and its students. Moreover, National Center for Education Statistics (NCES) classroom instruction includes the cost of teachers and most of the classroom supplies. However, it excludes costs regarding the staff and services essential for conducting numerous programs. The services include professional development, libraries, food and nutrition, custodial work and transportation which enable classroom learning in the initial stages (American Federation of Teachers, 2012). The environment in which the members of AFT work is deemed to violate Occupational Safety and Health Act 1970 (OSHA) which states that employers should be responsible for providing secure as well as healthy working environment which is not being complied with by the leaders of the

Art history Essay Example | Topics and Well Written Essays - 1250 words - 2

Art history - Essay Example He is perhaps best known as a portrait painter but critics have found it difficult to categorize him much more accurately beyond that. The Encyclopaedia Britannica cites his â€Å"large-scale Photo-Realist† portraits as his most famous achievement while the Oxford Dictionary of Art labels his early work as â€Å"Abstract Expressionist† and his later work as â€Å"Superrealism†. Many commentators (Sultan, 2003) have regarded his work in the medium of print to be even more significant than his paintings and it is certainly true that photography and print media have influenced his painting, as well as being major works of art in their own right. Throughout his life Chuck close has given interviews and collaborated on many books and television programmes (see for example Finch, 2007) which gives critics a good insight into his life and thought. His childhood was in some ways difficult, because of illness in the family and his own learning difficulties. Nowadays he would have no doubt been diagnosed with dyslexia and coached out of his rather individual way of seeing things, but as it was, he used his disability with words to focus on what he was good at, namely art. He has an exceptional awareness of his own artistic development and an uncanny talent for finding new techniques. While still a student Close was fascinated by prints and photography, citing Jasper Johns as an early influence (Sultan 10). He was a student in the 1960s, and experienced the blossoming of Pop Art first hand. The work of Johns and Warhol opened up a whole new field of exploration where the boundaries between collage and paint, between commercial silk screen printing and traditional fine art painting seemed to be merged. Multiple repetitions of the same subject were made in different colors and on a huge scale, highlighting these artists’ ability to frame even very ordinary items in unusual ways and change our perception of these items. Images such as the cans of soup and the Marylin

Consumer Behaviour Assignment Example | Topics and Well Written Essays - 1000 words

Consumer Behaviour - Assignment Example One of the peripheral factors that influences the consumer behaviour is the culture as it is imposed on a person by other individuals. The culture is the complex whole that comprises of knowledge, customs, morals, arts, beliefs and other habits and capabilities which are acquired by a person as a society’s member (Voon, 2011). Since there is a difference among various cultures of the countries, marketers have to ensure that they have sufficient information about the perceptions, norms and rituals of a culture so that the goods and services are offered in accordance to the demands of the respective market’s culture. In today’s dynamic business environment, the marketers have to deal with various challenges especially circumvention of messages that are conflicting, tailoring the marketing activities in ways that are compatible with consumer’s requirements and addressing the behaviour patterns of consumers across varying cultures so that the long-term objectives of customer loyalty can be effectively attained (Mandal, 2012). Although there are many challenges that need to be addressed but the most important ones that impact the consumer behaviour are the culture and psychological factors. Every promotional campaign will have different influences on people belonging to varying cultures; therefore, the marketers have to ensure that product and brand value are created in accordance with their desired goals so that they can develop a right image in the consumer’s minds. Since the product is the main element of the marketing mix which tends to catch the attention of the customers, only product-based marketing campaign will be insufficient for demonstration of the value that is desired by the consumers; in fact, the marketers will have to develop goods and marketing strategy that takes account of all cultural rituals along with in-depth investigation, analysis and

Fluency in a Foreign Language Essay Example for Free

Fluency in a Foreign Language Essay Thesis: Fluency in a foreign language should be required for all students before graduation from high school. Introduction: In a world of advancing technology and higher education, it is imperative that students take the time to develop unique talents and skills in order to gain a competitive edge over the average individual. I. Fluency in a foreign language builds character. A. The time and commitment required from students to learn an entire new alphabet and vocabulary builds diligence. B. The achievement realized by students as they begin to understand and converse in a second language produces confidence. II. Fluency in a foreign language builds life skills. A. The ability to converse fluently in another language with an entirely new realm of people builds communication skills. B. The readiness to alternate between languages with family and friends builds flexibility skills. III. Fluency in a foreign language creates unique opportunities. A. Fluency in a foreign language gives unique traveling opportunities. B. Fluency in a foreign language creates unique job opportunities Fluency in A Foreign Language Should Be Required For All Students Before Graduation From High School In a world of advancing technology and higher education, it is crucial that students take time to develop unique talents and skills which will give them a competitive edge over the average individual. Though many doubt the ability of fluency in a foreign language to advance students in society, businesses, educational systems, governmental offices, and health care departments are all eager to hire students with skills in foreign languages. As globalization becomes more prevalent, foreign language skills are quickly becoming a vital factor in preparation for the future. Fluency in a foreign language should be required for all students before graduation from high school. First of all, fluency in a foreign language builds character. The time and commitment required from students to learn an entire new alphabet and vocabulary builds diligence. According to Walter Pauk, a prominent professor of education at Cornell University, developing an open mind to new phrases and grammar structures along with finding the time required to practice them are two difficulties commonly encountered when studying a foreign language (Pauk 2). Young mindsets are impressionable, and habits are installed early on as students begin to discover and incorporate grammatical structures particular to their mother tongues. In order to break these habits, students in foreign language study must constantly open their minds to accept new rules that are introduced. While relearning and sounding out basic vowels, students must also adjust to sentence patterns that have been completely inverted. Students learn to work efficiently with limited time allowances available between their busy schedules of daily life, striving to move beyond formerly learned language habits. Distractions are pushed aside as students repeat new sentence patterns, rewrite new alphabets, and reread literature that seems to make no sense. The Department of Education from the University of Pennsylvania reports, â€Å"The nature of language immersion teaches students how to stick to difficult tasks. This diligence translates to better performance on exams, because students will be more likely to persist on challenging problems† (in White 2). Regardless of how difficult a task appears to be, students who have mastered another language view the situation simply as one giant project to be conquered bit by bit. Constant and sincere effort spent learning a foreign language produces a firm determination in students to persevere and achieve their set goals. While the important character trait of diligence is being formed through foreign language study, the achievement realized by students as they begin to understand and converse in a second language is also producing a separate character trait of confidence. Introductory lessons in a foreign language start out as seemingly impossible to master, yet in due time begin to make sense. Excitement escalates as the brain starts functioning in another language and continues beyond the first few lessons alone. Dincay, a professor at Istanbul Arel University, notes, â€Å"the feeling of accomplishment that comes with [students’] first steps toward a second language can spur them on to a deeper and broader passion for learning in general† (Dincay 1). Students who reach an expertise level in foreign language carry that same capability acquired first through language studies over into other realms of life, producing competent results beyond areas concerning language alone. In her article, â€Å"Benefits of Being Bilingual,† Marcos writes, â€Å"Studies suggest that persons with full proficiency in more than one language (bilinguals) outperform similar monolingual persons on both verbal and nonverbal tests of intelligence† (Marcos 1). Proficiency in a foreign language develops a needed sense of accomplishment in students, enabling them to move on and conquer other tasks and responsibilities with rare poise and fortitude. They realize that unlike monolinguals, their lives are not confined to one culture alone, but can easily extend to impact an incredible realm of people throughout their lives. Fluency in a foreign language builds character traits such as diligence and confidence, both needed in daily life yet hard to produce. Secondly, fluency in a foreign language builds life skills. The ability to converse fluently in another language with an entirely new realm of people builds communication skills. Students unfamiliar with another country’s language will find it more difficult to understand and accept the specific guidelines associated with the language; however, as Ting-Toomey, professor of Human Communication studies at California State University, writes in her book, â€Å"To the native speakers, the rules of their language make perfect sense and are naturally more logical than those of any other languages† (Ting-Toomey 86). Fluency in a foreign language carries students far past the simple phrases of â€Å"Hello,† â€Å"How are you,† and â€Å"I love you,† and allows them, like the natives, to converse comfortably through a completely foreign vocabulary and grammatical set-up. Once students comprehend and begin to intelligently utilize a foreign language, they are able to understand and relate to the society and culture in a way that many never will. Ted Ward, Dean of International Studies and Missions for a time at Trinity Evangelical Divinity School, writes in his book that â€Å"a highly competent level of [foreign] language skill allows [students] to conceive ideas and communicate them in a way that is synchronous with those of the people of the host culture† (Ward 154). Whereas monolinguals are often confined to the society of others who speak their language, students fluent in a foreign tongue are free to get involved in a second world. Benefits produced from the time and effort spent in mastering another language include filling out visa forms, reading public newspapers, and ordering from local restaurant menus with ease. Teaching, debating, and participating in discussions with words and phrases making the most sense to native speakers are yet other privileges opened up to students with foreign language skills. Along with better communication, the readiness to alternate between languages with family and friends builds flexibility skills. Bhattacharjee, author of the article â€Å"Why Bilinguals Are Smarter,† states, â€Å"In a bilingual’s brain both language systems are active even when he is using only one language, thus creating situations in which one system obstructs the other† (Bhattacharjee 1). Students must constantly determine which language their listeners will understand and recall the correct words and grammatical format to use with that particular language. Though it might seem terribly overwhelming at first, Bhattacharjee concludes that â€Å"this interference . . . isn’t so much a handicap as a blessing in disguise [,] . . . [forcing] the brain to resolve internal conflict, giving the mind a workout that strengthens its cognitive muscles† (Bhattacharjee 1-2). Students fluent in a foreign language respond immediately to one picture, sentence, or idea with two answers from two different languages. Sometimes one particular language carries a better explanation or definition than another, and for the student fluent in a second language, the opportunity is open to decide which language better suits certain situations. Definitions go beyond one explanation alone, and society life is extended to two worlds rather than one. Students can be taught, or teach others from two vastly different spheres of humanity and not be overwhelmed. Third and finally, fluency in a foreign language creates unique opportunities. Fluency in a foreign language gives unique traveling opportunities. While discussing various advantages given to foreign language students, Dincay shares that although thousands of people gain from their travels across the globe each and every year, it is the bilingual students, particularly, which receive the much broader traveling experience. While everyday tourists remain simply outsiders peering through a glass into another country’s unique culture, those familiar with and fluent in the native tongue are able to step beyond that glass barrier and enjoy their visits with full easy and liberty (Dincay 2). Whether visiting historical landmarks, using public transportation systems, or shopping in local markets, students fluent in the foreign language of the country are not restricted to taking pictures, relying on others’ directions, or following suggested prices. They may raise questions over history, follow posted transportation signs, and bargain for better values. Fluency in a foreign tongue gives traveling students an opportunity to stand out with something special that most tourists cannot claim. In his book Why Johnny Should Learn Foreign Languages, Huebener states, â€Å"The American businessman who can speak the foreign tongue fluently and who can make intelligent comments on the art and literature of the country will gain not only the business but also the respect of the person he is dealing with† (Huebener 46). Tremendous time and energy are required to reach fluency in a language, and communicate incredible care and consideration to the country’s citizens as the student is seeking to enter their world and communicate with them on a much more intimate level than sign language alone. Many societies take great pride in their native language and culture and when another individual has developed a firm knowledge and unders tanding of it, the natives, in turn, form a strong appreciation and respect for these students that many outsiders have not taken the time to earn. Fluency in a foreign language does not only create unique traveling opportunities, but also gives unique job opportunities. As the world advances in higher education and technology, men across the globe are seeking to make resources available to all. As one director in the Center for Applied Linguistics shares, â€Å"The need for individuals who can speak and understand languages other than English is acute . . . from business and social services to national security and diplomacy† (Malone et al. 1). A stronger focus on internationalism is emerging, making interaction with people from different linguistic backgrounds inevitable. Washington State University advertises a brochure that considers careers such as â€Å"government, business, law, medicine and health care, teaching, technology, the military, communications, industry, social service, and marketing† to be promising fields for students fluent in a second language, namely because â€Å"an employer [sees them] as a bridge to new clients or customers† (â€Å"Knowing Other Languages Brings Opportunities† 2). Students fluent in a foreign language can easily connect businesses with customers from a wide array of linguistic backgrounds and handle international business without hiring outsiders to translate. Proficiency in a second language is a skill envied and sought after by several employers as they seek to hire a staff to serve and elevate their organization to its maximal potential. Fluency in a foreign language should be required for all students before graduation from high school. The advantages produced from foreign language fluency are incredible and the opportunities limitless. Students are set up for successful futures in modern society as they leave high school and transition into the career world as young adults, able to communicate freely and work confidently in global communities around the world. The foundation laid is vital for young people going out to begin their adult lives in today’s world. Bibliography Bhattacharjee, Yudhijit. Why Bilinguals Are Smarter. The New York Times. The New York Times, 17 Mar. 2012. Web. 15 Oct. 2012. Budig, Gene A. Foreign Language Study Vital to U.S. Students. Lawrence Journal World (8 May 2010): SR12. LJWorld.com. Web. 9 Oct. 2012. Dincay, Turgay. Advantages of Learning a Foreign Language at an Early Age. Todays Zaman. Todays Zaman, 25 Nov. 2011. Web. 9 Oct. 2012. Hawkins, Eric W. â€Å"Foreign Language Study and Language Awareness.† 1999: 124-42. Web. 2 Nov. 2012. Huebener, Theodore. Why Johnny Should Learn Foreign Languages. Philadelphia: Chilton Company, 1961. Print. â€Å"Knowing Other Languages Brings Opportunities.† New York: Washington State University, n.d. Foreign Languages and Cultures. Washington States University. Web. 4 Nov. 2012. Malone, Margaret E., et al. Attaining High Levels of Proficiency: Challenges for Foreign Language Education in the United States. CAL.org. Center For Applied Linguistics, 2005. Web. 2 Oct. 2012. Marcos, Kathleen M. Benefits of Being Bilingual. CAL.org. Center For Applied Linguistics, n.d. Web. 09 Oct. 2012. Pauk, Walter. Studying Foreign Languages. UWEC.edu. University of Wisconsin-Eau Claire, 13 Jan. 2012. Web . 7 Oct. 2012. Ting-Toomey, Stella. Communicating Across Cultures. New York: Guilford, 1999. Questia. Questia. Web. 2 Nov. 2012. Ward, Ted W. Living Overseas: A Book of Preparations. New York: Free Press, 1984. Print. White, Mercedes. Language Immersion Classrooms: Programs Are Popular, Diligence Translates to Performance. Deseret News. Deseret News.com, 29 Jan. 2012. Web. 1 Nov. 2012.

Investigating and Analyzing Opportunities and challenges of implementing ERP solution projects in SMBs Essay Example for Free

Investigating and Analyzing Opportunities and challenges of implementing ERP solution projects in SMBs Essay To accomplish research objectives, the mixed method approach to research will be used. Both qualitative and quantitative data will be instrumental in investigating and analyzing the opportunities and challenges of implementing ERP solution projects in SMBs. Data will be obtained from primary and secondary data, such as books and scholarly articles about theories and models in ERP planning and implementation, and the findings or outcomes of integrating ERP in SMBs in actual situations from other studies. Key individuals from performing, including ERP solutions integrators, and receiving organizations, such as CEOs in receiving organizations, will also be interviewed to gain qualitative data that will address the research goals. The field study approach will be applied to obtain qualitative and quantitative data. The analysis of the qualitative and quantitative data that will follow the contrastive approach. The number of studies that look into the actual outcomes of ERP solutions is limited and the contrastive approach to analyzing data and perceived outcomes of the study will contribute to empirical knowledge regarding the actual or practical situations that take place when implementing ERP solution projects in running and managing SMBs. The succeeding discussions will provide details on the methods and approaches that will be applied to fulfill the objectives of the research. Research Design Field Study ApproachThe field study approach of qualitative and quantitative research will be used at different stages in the study to gather data and determine the opportunities and challenges of implementing ERP solution projects in SMBs. Scholars emphasized the value of a field study design in a theory-oriented research. Schwab (2005, p. 85) noted that the field study approach is instrumental in testing theories or models. â€Å"Field studies â€Å"are frequently used to test conceptual models with a number of independent variables† (Schwab, 2005, p. 85). One primary objective of the study is to compare and contrast theories in ERP and its integration to SMB business functions and processes to actual practices and outcomes experienced by performing and receiving organizations. The field study approach will be utilized gain qualitative and quantitative data from independent variables that will consist of participants from performing and receiving organizations. The data obtained from the field study will be tested against theories and models discussed in the Literature Review. The field study approach enables the researcher to understand a phenomenon within the actual context or environment in which it occurs through direct observation or interaction with the target population. The purpose of the field study approach is aligned with the objectives of the research. The lack of existing literature is one reason that prompted the study. Gaining practical data from performing and receiving organizations through the field study approach will validate and evaluate the reliability of existing literature about the process and outcomes of ERP implementation in SMBs. Qualitative data will be obtained by conducting interviews with receiving and performing organizations. The number of participants from receiving and performing organizations will be equally divided. Five participants from receiving organizations (CEOs, CIOs, and IT managers) and five participants from performing organizations (project managers or ERP solutions integrators) will be selected as the sample population based on the availability of the participants. The formal interviews will be guided by specific themes that are aligned with the objectives of the study to address research questions. The formal interview with participants from performing organizations, including ERP solutions integrators or project managers will focus on three key areas: project controlling, project monitoring, and risk management. The interview questions will be designed to draw the practices or strategies implemented by the participants in order to control or monitor ERP projects in SMBs and techniques in risk management to prevent or address potential risks accordingly. The perceived outcomes of project managers and ERP solutions integrators will also be determined and evaluated based on the actual outcomes of ERP projects in SMBs. The quantitative data will also be obtained from performing organizations. The success of project planning, management and implementation of ERP project integrators may be determined by evaluating the various areas in ERP implementation. The project plans that were completed will be the primary source for quantitative data. The project plans and the actual outcomes of implementation will be evaluated to determine how successful ERP integrators were in accomplishing project plans for client SMBs. Information from receiving organizations will also be instrumental in validating the success of ERP project solutions and in determining the opportunities and challenges that commonly occur during the implementation process. The formal interviews with participants from the receiving organizations will focus on four areas: change management opportunities upon implementation of ERP projects, the challenges that arise during ERP implementation, the quality of the implemented solution or its alignment to the goals of the receiving organization, and the satisfaction of the receiving organization throughout the project life span. The responses from the receiving organizations will determine whether ERP project solutions implemented by performing organizations opened up opportunities for growth and development in the former and identify accompanying challenges in ERP implementation that other SMBs should be prepared for when adopting ERP in business operations. The primary data will be obtained through the field study approach. The secondary data that will primarily be used in writing the Literature Review will be obtained from the Body of Knowledge PMI, Prince2 Body of Knowledge, and professional journal works. The various theories and models in ERP implementation and how the process is integrated to SMB business practices will be the focus of research to obtained secondary data. The PMI and Prince2 will serve as the basis or standard of evaluating the efficiency and success of ERP project plans implemented in receiving organizations.

Yum! Brands Food

Yum! Brands Food Yum! Brands America is not what it once was. Gone are the times of spending hours sitting on the front porch while grandma snapped a pound of green beans for dinner. Instead, those times have been replaced with speeding through a drive-thru window to grab a quick bite to eat. Foods that were once referred to as slow-cooked, wholesome, and hearty, are now being described by words such as, fast, convenient, and fatty. We now live in an evolving world, where a single moment of free time is branded as wasted time for progress. The fast-food industry has emerged almost immediately. â€Å"Yum! Brands, Inc., was reported as the largest fast-food company in 2004† (Krug (2004) pg. 627). This company is made up of many household brands such as KFC, Pizza Hut, Taco Bell, Long John Silvers, and AW restaurants. In the fast-food industry, they are the market leader in the chicken, pizza, mexican, and seafood segments (Krug, 2004). Yum! Brands goal is to be the market leader in the United States, and also increase market share in high growth areas around the world. One strategy that Yum! Brands implemented to increase market share in the United States was to combine two of the companys franchises into one location to attract a broader customer base. This has brought tremendous success to the company. Yum! Brands has since shifted its focus to an international strategy to expand on their current market share. The rise of the fast-food industry is not confined to the United States alone. The world as we know it has evolved into a fast-paced no wait zone. Although based on a countrys culture, the dining practices of the worlds countries are quite different. Some countries remain steadfast to their culture and have been reluctant to embrace the fast-food concept. This presents the strategic issue. How can Yum! Brands continue to expand on their international strategy while sustaining their leadership and competitive advantage in the United States and other countries? We will now address this issue by applying an analysis that will help Yum! Brands decide which countries need to be evaluated and when to expand their company into new markets. In order for Yum! Brands to venture outside of the United States, they must first evaluate the markets in which they are planning to enter. This type of analysis requires a model that evaluates the economic conditions, political stability, cultural differences, resources, society conditions, and supporting industries associated within a given market. Michael Porter of Harvard University concluded that â€Å"there are four broad attributes of nations that individually, and as a system, constitute what is termed ‘the diamond of national advantage† (Dess, Lumpkin, Eisner 2007 pg. 240). We will find this analysis to be the most beneficial to Yum! Brands. In this analysis, we will be analyzing what issues Yum! Brands should address before entering a market. These issues are factor conditions, demand conditions, related and supporting industries, and firm strategy, structure, and rivalry. We begin the analysis with factor conditions. These conditions reflect each nations factors of production and should be industry and firm specific. Yum! Brands should be looking at what each country possesses, as far as firm-specific knowledge and skills created within the country that are rare, valuable, difficult to imitate, and rapidly and efficiently deployed. If these factors do not exist in a country, then Yum! Brands will need to consider whether the firm can create these factors using their own intellectual assets. One factor advantage for expanding into the Latin American markets, for instance, is that the costs associated with labor and salaries will be significantly less than in the United States. This is due to inflation rates, economies of scale, and unemployment rates. Yum! Brands has been successful in other markets because almost all of their franchises outside of the United States are locally owned and operated. This reduces the language barriers and allows a cultura l perspective that might otherwise be a major concern. By allowing local business people to own the franchise, Yum! Brands gains intellectual knowledge on the countrys culture and consumer demands in a given market. Analyzing demand conditions is important because without knowing what the customers wants and needs are, we cannot efficiently serve the market. In the United States, we know that the demand for fast-food is high, based on our lifestyle and growing population trends. Although in Latin America, this may not be the case, due to consumer awareness and cultural differences. Yum! Brands will need to rely on economic and trend analysts to predict the cultural and societal trends of that market. Among the things analyzed should be the ethnic and immigration trends of that country. In the United States, we have seen a growth in ethnic food, due to the recent growth in immigration. Another thing to consider when analyzing demand conditions is the level of income individuals are receiving. A rise in income stimulates growth in the dine-in restaurant segment as consumers receive higher disposable incomes (Krug, 2004). Yum! Brands may need to expand and improve on existing products in order to s ustain competitive advantage. Related and Supporting Industries deal with countries managing inputs more efficiently. Close working relationships with suppliers is a key factor in gaining competitive advantage. In the United States, we have seen that distribution of products is highly correlated with production. Distribution between states within the country is non problematic, based on the free trade barriers that exist between them. This is also true of distribution to Canada and Mexico, due to the North American Free Trade Agreement that enabled free trade and tariffs between North American countries. Also, the geographic proximity of Latin America to the United States gives the firm an advantage towards supplier power. Yum! Brands will need to assess the supplier power, as well as other related relationships relevant to success, in each market before entering. Also, it is important for Yum! Brands to research trade laws and regulations between their home market and potential foreign markets. Firm strategy, structure, and rivalry is perhaps the most important segment in analyzing a foreign market. â€Å"Rivalry is particularly intense in nations with conditions of strong consumer demand, strong supplier bases, and high new entrant potential from related industries† (Dess, Lumpkin, Eisner 2007 pg. 243). In the fast-food segment, we have seen that domestic rivalry is very high within the United States. Although, based on cultural differences in Latin America, the demand is low, because most Latin Americans have not yet acquired a taste for American food. Instead, Latin Americans continue to embrace dining at home. Economics are another factor reflecting domestic rivalry. As we have already discussed, the pay rate in Latin American countries is significantly lower than in the United States. This results in lower consumer demand which reduces the competitive environment in Latin America. How a country is run can also influence domestic rivalry and strategy. With popul ations on the rise around the world, as well as in Latin America, a trend may soon be emerging that will shift all dining practices to a more American style of eating. As long as Yum! Brands continues to innovate and make changes in its internal framework, they should be able to achieve their international strategic goals. It is imperative that Yum! Brands does not venture into foreign markets without first analyzing the market in which they are entering. Also, if they try to expand too rapidly, they may experience limited resources and cash flow. Yum! Brands will want to expand into areas with high economic growth potential, as well as, regions with rising population and political stability. â€Å"Firms that succeed in global markets had first succeeded in intense competition in their home markets. We can conclude that competitive advantage for global firms typically grows out of relentless, continuing improvement, innovation, and change† (Dess, Lumpkin, Eisner 2007 pg. 243). Based on the history of Yum! Brands success in the United States, we can assume that the company is a prime candidate to venture into international markets. Works Cited Krug, Jeffrey A. (2004). Yum! Brands, Pizza Hut, and KFC. Appalachian State  University, 627-638. Dess, G. Gregory, Lumpkin, G.T, Eisner, B. Eisner (2007). Strategic Management 3e.  Mcgraw-Hill. Diamond of National Advantage Domestic Rivalry high in the U.S. based on cultural trends economics low in Latin America fast-food versus dining at home Factor Conditions Demand Conditions requires high population low in Latin America modern technology high in U.S. communication systems dining practices language barriers immigration trends tariffs and trade regulations consumer awareness legal system growth in suburban areas banking system unemployment rates labor costs Related and Supporting Industries close proximity to the supplier supplier bases must be prevalent in an industry can a supplier base be created trade barriers can similar suppliers be substituted