Export Potential Of Thai Canned Tuna To Japan - Free Essay Example

Sample details Pages: 6 Words: 1692 Downloads: 9 Date added: 2017/06/26 Category Statistics Essay Did you like this example? Chapter I: Introduction Canned sea foods industry is a value-added industry for both domestic and imported raw products before export to foreign countries. It has been one of Thaià ¢Ã¢â€š ¬Ã¢â€ž ¢s exported agricultural industries which grown in value continuously. Canned tuna industry is the most important canned sea foods in Thailand. It has a value of 84 percent of the total canned sea foods export value in 2008. Thailand has been the worldà ¢Ã¢â€š ¬Ã¢â€ž ¢s largest exporter of canned tuna for the last ten years, represents about 40 percent of worldà ¢Ã¢â€š ¬Ã¢â€ž ¢s canned tuna export amount (EXIM Bank, 2009). Japan has been one of the major markets of Thai canned tuna export for very long period of times. Japanà ¢Ã¢â€š ¬Ã¢â€ž ¢s rate of import has been increasing almost every year. It imported 1.6 million cartons in 1991 and increased to about 2.6 million cartons in 1995 which Thailand was the number one exporter. Thailand held the market shares of 53.4 percent in 1991, increased to the highest of 71.8 percent in1994, and decreased to 53.43 percent in 1995 (Boonmasu, 1998). More recently, Thailand still held most of the Japan canned tuna market shares (50.9 percent) in 2008, fallowed by Indonesia (23.2 percent) and Philippines (16.7 percent) (Global Trade, 2008). Don’t waste time! Our writers will create an original "Export Potential Of Thai Canned Tuna To Japan" essay for you Create order However, nowadays Thailand is facing the problems of quantity and price uncertainty including import tax in exportation of canned tuna to Japan. In the last quarter of 2008 (October December) the export of canned tuna from Thailand experienced a negative trend as a result of the economic crisis. Except for the USA, exports to other major markets showed sharp decline during this period including Japan which decreases about 7.8 percent (Josupeit, 2009). Even though Thailand is the worldà ¢Ã¢â€š ¬Ã¢â€ž ¢s largest canned tuna exporter, amount of tuna in Thai water area alone is not enough for the canned tuna industry so Thailand has to import raw material (tuna) from other countries for up to 70 percent of the total tuna input, this results as the high cost of production because about 73 percent of canned tuna production cost come from chilled or frozen tuna (Jintatam, 1997) Indonesia and Philippines are the major competitors that have some advantages over Thailand. These two countries have abundance of tuna resource and low labor cost which give them the advantage of lower cost of production. However, their production forces are still far off Thaià ¢Ã¢â€š ¬Ã¢â€ž ¢s total canned tuna production. International trade agreements like the Japan-Thailand Economic Partnership Agreement (JTEPA) and the ASEAN-Japan Comprehensive Economic Partnership Agreement (AJCEP) are the major factors affecting import tax of canned tuna in Japan that needed to be studied. Japan has decreased import tax for Thai canned tuna from 4.3 percent to 3.2 percent in 2009 and will decrease to 0 percent in 2012 under JTEPA. However, Thailand still has to import raw material (tuna) from other countries and JTEPA only affects tuna that been caught from Thaià ¢Ã¢â€š ¬Ã¢â€ž ¢s boat or IOTC (Indian Ocean Tuna Commission) members, so Thailand cannot get full advantage from the agreement. It is expected that AJCEP agreement will increase advantage of Thai canned tuna export to Japan after its enforcement in 2009. From the above reasons, it is important to study Japanà ¢Ã¢â€š ¬Ã¢â€ž ¢s canned tuna market nature, market share, comparative advantage of Thailand, and related trade agreements to make a decision of expansion the export of Thaià ¢Ã¢â€š ¬Ã¢â€ž ¢s canned tuna market to Japan in the future. Objectives To study market nature, change of growth rate and market shares, and competitiveness of Thai canned tuna in Japan. To study effects of international trade agreements; JTEPA and AJCEP to Thai canned tuna export to Japan. To analyze relationships between frozen tuna prices and amount of Thai canned tuna export to Japan. Contribution/Benefits This study provides knowledge of canned tuna market in Japan including growth rate and changes of market share to know potential and competitiveness of Thai exports. And also provides knowledge of factors effecting export value change to find errors which could be used by exporters and other researchers for further study. Methodology and Variables The study gathers related secondary data from previous researches, journals and thesis, including statistics from both the government and public sectors e.g. EXIM bank, Department of Export Promotion, Department of Business Economics, Department of Fisheries, and Food and Agriculture Organization (FOA). Descriptive Analysis will be used to describe nature of canned tuna market export from Thailand to Japan, effects of JTEPA and AJCEP on canned tuna export, growth rate and market shares of Thai canned tuna export to Japan, and SWOT analysis, to see competitiveness between Thailand and its major competitors; Indonesia and Philippines, by using statistic data in the form of chart, percentage, and table to support the description. Grangerà ¢Ã¢â€š ¬Ã¢â€ž ¢s Causality Test is used to examine relationship of frozen tuna price and amount of Thai canned tuna exports to Japan. If past X contains useful information (in addition to the information in past Y) to predict future Y, so X à ¢Ã¢â€š ¬Ã…“granger causesà ¢Ã¢â€š ¬? Y. Z fails to Granger-causes Y if: MSE[E(xt|It-1)] = MSE[E(xt|Jt-1)] Here It-1 contains past information on Y and Z while Jt-1 contains past information on Y only. Regression: xt=c+ÃŽÂ ±xt-1+ÃŽÂ ²yt-1+ut Test H0: ÃŽÂ ²=0 Chapter II: Literature Review Several published literatures had examined export potential of Thai canned tuna to foreign markets such as the study of Charoenkhwan (2003) which studied on the general condition of canned tuna marketing in U.S.A., market share of Thai canned tuna in U.S.A. and factors that impact on demand for input of U.S.A. to Thai canned tuna. The result of studying general condition indicated that Thailand was the first ranking of the world in canned tuna industry. They also analyzed on changing of export value of canned tuna by using Constant Market Share model (CMS) indicated that Albacore, Yellow fin and the other tuna of Thailand had exportà ¢Ã¢â€š ¬Ã¢â€ž ¢s average growth more than U.S.A. trade effect. For an analysis on factors that impact on demand for input of U.S.A. to Thai canned tuna was dependent on import price in Thai canned tuna adjusting by consumer price index of U.S.A. Boonmasu (1998) aimed to study the nature, together with the problem and the obstacles of the production and export, including the study of market competitive advantage of Thai canned tuna product by comparing among the majors competitors within this region; Philippines and Indonesia. Her study emphasized on important export markets; the USA, EU, Japan and the world markets. Quantitative analysis, descriptive analysis and revealed comparative advantage (RCA) are the major tools she used to analyze the gathered secondary data during 1991-1995. The outcome of the study shows that Thailand has to import the frozen tuna around 70 percent of the volume needed for production. The analysis of the main export markets of Thailand has found that the product is more competitive comparing to the other competitors. However, such competitive ability and advantage seem to be lessened consistently. Study of Kijboonchoo and Kalayanakupt (2003) attempted to measure the comparative advantage and competitive strength of Thailand in exporting canned tuna to the world market between 1982 and 1998. They also used revealed comparative advantage (RCA) as the major tool. Their study shows that Thailand was the largest exporter of canned tuna in the world market between 1982 and 1998. Thailandà ¢Ã¢â€š ¬Ã¢â€ž ¢s comparative advantage has been decreasing in all the studied periods. Also market shares in terms of export volume and value have fallen significantly in the studied periods. Kaewchuey (2007) studied production and marketing of palm fruit and crude palm oil in Thailand, and analyzed palm oil price relationship between different market levels. The Vector Error Correction Model (VECM) and the Ganger Causality Test were employed to examine the horizontal and vertical price relationships of palm oil. The results showed that all price series used in this study were integrated of order I. Therefore, the Cointegration Test was applied to test for long term price relationships between the markets. The results indicated that there were long term relationships between international prices of crude palm oil and wholesale prices, and between wholesale prices and palm fruit prices in local markets. The result from the Grangerà ¢Ã¢â€š ¬Ã¢â€ž ¢s Causality Tests revealed that vertical price relationships existed. International prices of crude palm oil Granger-caused wholesale prices, which, in turn, Granger-caused palm fruit prices in local markets. The results implied that the price of palm oil at a higher market level could influence the price at a lower market level. Chapter III: Japan Canned Tuna Market Market Characteristics Growth Rate and Market Shares Table 3.1: Market shares of canned tuna in major market countries in the year 2008 (Unit: percents) USA Australia Japan Thailand 46.4 96.2 50.9 Indonesia 6.2 1 23.2 Philippines 12.5 0.7 16.7 Others 34.9 2.1 9.2 Total 100 100 100 Source: Global Trade, 2008 Table 3.2: Thailandà ¢Ã¢â€š ¬Ã¢â€ž ¢s frozen tuna imports 2007-2008 (separated by species) (Unit: Q in 1,000 tons, V in billion Baht) Species 2007 Q 2007 V 2008 Q 2008 V % change Q % change V Skipjack 403.1 16,169.7 498.9 28,202.9 23.8 74.4 Yellow Fin 84 4,477.4 82.2 5,356.5 -2.1 19.6 Albacore 32.2 2,019.4 24.2 1,928.4 -24.8 -4.5 Big Eye 2.8 113.2 4.2 221.1 50 -95.3 Others 0.8 18.9 0.1 7.2 16.6 -61.9 Total 522.9 22,789.6 609.6 35,716.1 Source: INFOFISH Chapter IV: International Trade Agreements JTEPA AJCEP Chapter V: SWOT Analysis Strength Weakness Opportunity Threats Chapter VI: Grangerà ¢Ã¢â€š ¬Ã¢â€ž ¢s Causality Test If past X contains useful information (in addition to the information in past Y) to predict future Y, we say X à ¢Ã¢â€š ¬Ã…“granger causesà ¢Ã¢â€š ¬? Y. Note that Grangerà ¢Ã¢â€š ¬Ã¢â€ž ¢s causality test may or may not indicate causal effect of x on y (could you think of some examples?) Z fails to Granger-causes y if: MSE[E(xt|It-1)] = MSE[E(xt|Jt-1)] Here It-1 contains past information on Y and Z while Jt-1 contains past information on Y only. Regression: xt=c+ÃŽÂ ±xt-1+ÃŽÂ ²yt-1+ut Test H0: ÃŽÂ ²=0 Chapter VII: Conclusion and Discussion Kijboonchoo and Kalayanakupt (2003) had made suggestions of six possible ways to solve the Thaià ¢Ã¢â€š ¬Ã¢â€ž ¢s canned tuna problems and obstacles that should be done by both government and private sector; the problem of the lack of domestic raw materials should be eliminated or reduced, production plants and procedure should be upgraded, Thai producers and exporters should build up their own brands and trademarks, Producers and exporters should adjust their plants, products and production procedures to meet the importing countriesà ¢Ã¢â€š ¬Ã¢â€ž ¢ standards and regulations, the related government unit should provide more information to the Thai producers and exporters, and they should have the web site in order to provide their information to customers.

Essay on HRM Issues in China - 3405 Words

Issues affecting International Human Resource Management in China â€Å"Napoleon called China a sleeping dragon and said there would be woe to the world when the dragon awakes. As the world knows, the dragon is more than stirring.† Introduction The Chinese believe that the Great Dragon ruled the Middle Kingdom of the world for nearly four thousand years. For most of this period China was a great trading nation. Then the dragon fell asleep for two centuries, while China collapsed under the effects of colonialism, until in 1978 Deng Xiao Ping woke the dragon up. And now the Chinese dragon is back, hungry to take its place as the economic and cultural superpower of the 21st century. Nowadays China is often called the world’s†¦show more content†¦The third is psychological. People’s thinking differs because of their different life experiences. Activities like management and organisation are therefore culturally dependent. 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Crime in Literature Free Essays

When crime features in literature, there are often many ways it is dealt with. In â€Å"Thank You Ma’am† by Langston Hughes, Mrs. Jones was almost robbed by a boy named Roger. We will write a custom essay sample on Crime in Literature or any similar topic only for you Order Now Instead of calling the cops Mrs. Jones took the boy home to her house, washed, fed and gave him money to buy the sneakers that he had wanted to steal the money for. In contrast, in Roald Dahl’s â€Å"Lambs to the Slaughter†, Mary kills her husband, Patrick Maloney, after he told her he is going to leave her. After killing her husband, she tricks the police that she found him dead when she came home and also tricked them into eating the leg of lamb that she killed him with. While the lesson that is taught in each literature work are far different from each other, both show that crime is treated differently in many cases. However, were as Hughes illustrates the lesson that is being taught about theft, dhal demonstrates the unexpected turn in a common crime. In both works of literature works, â€Å"Thank You Ma’am† and â€Å"Lambs to the Slaughter†, crime is a common theme. Though in both literature works crime is conveyed differently. In â€Å"Thank You Ma’am† Mrs. Jones is almost robbed by a young boy Roger. But instead of calling the cops, Mrs. Jones catches him and takes him home where she taught him that stealing may not be the solution to his problems. In contrast, in â€Å"Lambs to the Slaughter†, Mary Maloney kills her husband, Patrick Maloney. But instead of getting caught, she finds a way to cover her tracks. Though both themes were crime, it’s shown in different ways. In â€Å"Thank You Ma’am† the theme can portrayed as crime is solved by forgiveness. Mrs. Jones shows roger forgiveness which made the reader believe that roger will change his ways. In â€Å"Lambs to the Slaughter† the theme shows that crime can be solved by lying. Mary will not go to jail because she covered her tracks and the cops can’t trace her to her husband’s murder. Another example of how the theme is different by the ending of each story. In the end of â€Å"Thank You Ma’am† roger leaves Mrs. Jones house changed, speechless of what just happened to him. However, in â€Å"Lambs to the Slaughter† Mary giggles at the end of the story. This can show that both works of literature were conveyed differently throughout each story. Therefore, this shows how he crime is common in both works of literature through to theme is different. These two examples show how the themes are different. In both works of literature, â€Å"Tank You Ma’am† and â€Å"Lambs to the Slaughter†, characterization is a common influence on how each story plays out. However in each works of literature characters influence in different ways. In â€Å"Thank You Ma’am† Mrs. Jones helps roger realize what his wrong doing was. Therefore, Mrs. Jones influences roger to realize what he has been doing wrong. In contrast, in â€Å"Lambs to the Slaughter† Mary tricks to police into eating the lamb, the weapon in Patrick murder case. This shows that Mary influence the police to believe that she did not kill her husband. In â€Å"Thank You Ma’am† Mrs. Jones could be characterized as kind. It was kindness that Mrs. Jones showed Roger for him to realize his wrong doings. And yet, in â€Å"Lambs to the Slaughter† Mary can be characterized as manipulative. In addition, the characterization could change the seriousness of a crime. In â€Å"Thank You Ma’am† Roger is characterized as a minor. He was just a young boy who had potential of changing his ways. In â€Å"Lambs to the Slaughter† marry could be characterized, in this case, as a consequential adult. Mary was dealing with a serious crime that she had committed. This shows that even though both works of literature consist of crime, the authors illustrates a different kind of crime in each by using the characterization of each character. Roger was a kid with a chance of change, who as just committed a robbery, but in Mary’s case she as an adult that had committed a murder. Through characterization, these stories consist of a common trait, but are conveyed differently. These two examples show how the two text are different. In conclusion, throughout both works of literature, there were common traits that consist in the story that is told by convey themselves differently. In both â€Å"Thank You Ma’am† and â€Å"Lambs to the Slaughter† consist of crime, but in each work they convey itself differently than the others. † In â€Å"Thank You Ma’am† crime was resolved by forgiveness. In â€Å"Lambs to the Slaughter† crime was solved by lying. Both works also consist of characterization that play out the story, but is used differently in each one. In â€Å"Thank You Ma’am† Mrs. Jones characterization help roger for the better. In â€Å"Lambs to the Slaughter† Mary’s characterization helped her for the bad. There were common trait but all was conveyed differently to create a different reaction of each literature works. How to cite Crime in Literature, Papers

Auditing and Assurance Business Research Opportunity

Question: Describe aout the Auditing and Assurance for Business Research Opportunity. Answer: Introduction This study deals with company named as Wesfarmers Limited listed in Australian Stock Exchange. In this particular assignment, emphasis has been given for understanding the audit engagement report for the year 2017. The present study gather information as well as preparation of report for meeting audit collaborates as well as audit managers. The first question explains the operational aspects of Wesfarmers Limited in areas like retail, liquor as well as home improvement and department stores. Then, Wesfarmers Limited faces some of the issues with auditing activities following related laws as well as regulations (Simnett, Carson and Vanstraelen 2016). It further gives information on understanding major and minor competitors of Wesfarmers Limited. Therefore, at the end, strength and weakness are explained for Wesfarmers Limited. 1. Wesfarmers Audit Engagement 2017 Part A Areas in which Wesfarmers conduct its operations Wesfarmers Limited is an Australian-listed company based in Australia. This particular organization conducts its business operations in areas such as supermarkets, hotels, home improvements, department stores as well as liquor and convenience stores. It is one of the largest private sector employing around 220000 staff members and shareholder base of 530000 on approximate basis (Redmayne 2013). The main objective of Wesfarmers Limited is providing satisfactory return to potential stakeholders. Part B Identification of laws and regulations Wesfarmers Limited is committed towards compiling with laws as well as regulations for countries operating its business in ethical way. This particular company is consistent with principles of honesty, fairness as well as respect and integrity (Moroney et al. 2014). Bribery as well as other related improper refers in the policy considers as criminal offenses for company and individuals at the same time. This is presented as inconsistent in aligning with Wesfarmers Values. There are various laws prohibiting with improper payments covering in the policy in applicable for all countries. Wesfarmers Limited who engages in trading activities operates these activities. Some of the Laws and Regulations are as follows: Australian Criminal Code US Foreign Corrupt Practices Act UK Bribery Act Competition and Consumer Act in Australia Anti-bribery policy The main purpose of this policy brings out the responsibilities of Wesfarmers Limited personnel in observing as well as upholding the prohibition on bribery and other related improper conduct (Junior, Best and Cotter 2014). On the contrary, Wesfarmers Limited provides information as well as guidance in recognizing and dealing with instances on areas such as bribery and corruption at the same time. This policy is applicable to Wesfarmers Limited for all Directors as well as employees. It is given in diversified nature for Wesfarmers Limited operating in and across Australia. Wesfarmers Limited adopts own anti-bribery policies in related with operational aspects in the most appropriate way. Wesfarmers Limited Personnel understands as well as complies with given policies. Wesfarmers Limited does not encourage accepting or requesting bribes, payment facilitation as well as money laundering and secret commission activities (Hay, Stewart and Botica Redmayne 2016). Wesfarmers Limited does not approve in requesting for irregular payment for winning for making business decisions in an effective way. Wesfarmers Limited complies with reporting as well as approval process in areas such as gifts as well as entertainment and hospitality. Wesfarmers Limited does not offer or receive any type of gift by relevant Anti-bribery Officer (Simnett, Carson and Vanstraelen 2016). Part C Primary Competitors in retail sector Wesfarmers Limited mainly starts its farmer cooperation in and around Western Australia few centuries ago. In the recent world, Wesfarmers Limited is the most diverse companies and largest retailers that aim at acquisition of food and liquid retailing activities under Coles Group. Wesfarmers Limited shows interest in far-ranging business involving general merchandise (Kmart and Target), Home improvement as Burnings as well as office products retailing. Wesfarmers Limited also engages its operations in coal mining, fertilizers production as well as gas processing and safety products (Hardidge et al. 2013). Wesfarmers Limited believes in providing agricultural merchandise as well as services for future analysis purpose Two Major Competitor of Wesfarmers Limited Woolworths Limited- Woolworths Limited is major competitor of Wesfarmers Limited as both operate its activities in retail sector (Simnett, Carson and Vanstraelen 2016). Both the companies are listed in Australian Stock Exchange. Woolworth Limited operates in Australia as well as New Zealand involving more than 1000 supermarkets. Addition to that, Woolworths Limited sells gasoline as well as leverages in form of distribution network. Therefore, Woolworths Limited provides wholesale merchandise especially for third-party supermarkets in the most appropriate way (Carson, Fargher and Zhang 2016). Metcash Limited- Metcash Limited is one of the wholesale grocery suppliers as well as liquor distribution in and around Australia. This particular business organization has distribution units serving more than 2500 grocery stores. This company operates as Australian Liquid Marketers supplying for more than 13000 liquid stores. Two Minor Competitor of Wesfarmers Limited Caltex Australia Limited- Caltex Australia Limited occupies the topmost position in oil refining as well as marketing company with around 30% share especially in retail fuel market (Simnett, Carson and Vanstraelen 2016). This particular business organization engages in refining as well as marketing of fuels and lubricants in and across the country with network of more than 2000 brand gas stations. Caltex Australia Limited owns as well as operates 11 coastal storage terminals as well as petroleum products and lubricant blending plants. In the year 2015, Chevron mainly sold its stake of 50% to Caltex Australia Limited (Botica?Redmayne 2013). Myer- Myer Limited is one of minor competitors of Wesfarmers Limited operating in retail sector. Myer Limited segments into price conscious group targeting to departmental stores. Myer Limited targets middle class as well as upper middle class individuals. Myer Limited positions its products in styles as well as quality in the most appropriate way. Myer Limited is an Australian chain for upscale of operations from high range of departmental stores (Moroney et al. 2014). Myer Limited has stores in the Australian States as well as Australian Capital Territory. Myer Limited offers large variety of brands at affordable prices for rendering consumers. Myer Limited has strong brand presence as well as reputation in and around Australia. 2. SWOT analysis for Wesfarmers Strengths Weakness Wesfarmers Limited established in the year 1914 depicting as powerful brands legacy Wesfarmers Limited emphasis majorly upon community development initiatives Wesfarmers Limited delivers convenience as well as customer services (Moroney et al. 2014) Wesfarmers Limited has major key importance in quality as well as performance Wesfarmers Limited has many stores as well as strong workforce of more than 200000 staff members (Moroney et al. 2014) Wesfarmers Limited aims at providing special offers as well as discounts for attracting customers as far as possible Wesfarmers Limited sales with the help of online formats Wesfarmers Limited renders variety of suits in price points. Wesfarmers Limited is a market leader in retail sector and this is the reason that this company remains under scrutiny for undertaking any critical decisions Wesfarmers Limited has low geographical presence. Conclusion At the end of the study, it is concluded that Wesfarmers occupies the topmost position in the retail sector. This particular business organization follows core principles and code of conduct for meeting the objectives in the near future. It has strong brand presence in and across Australia. Laws and regulations are explained above with proper justification. Wesfarmers Limited obtains requires approvals especially for donations as well as sponsorship. In other words, Wesfarmers Limited maintains accurate records for dealing with third party. Wesfarmers Limited should be vigilant in reporting any breach of contract for any type of suspicious behavior in relation with policy. Reference List Botica?Redmayne, N., 2013. Auditing and Assurance Services in Australia: An Integrated Approach. Pacific Accounting Review. Carson, E., Fargher, N. and Zhang, Y., 2016. Trends in Auditor Reporting in Australia: A Synthesis and Opportunities for Research. Australian Accounting Review, 26(3), pp.226-242. Hardidge, D., Abeysekera, I., Chew, T.G., De Santi, R., Egan, T., Ghandar, A., Jakubicki, P., Lee, A., Luckins, J., Ridley, C. and Shying, M., 2013. A guide to understanding auditing and assurance: listed companies. Hay, D., Stewart, J. and Botica Redmayne, N., 2016. The Role of Auditing in Corporate Governance in Australia and New Zealand: A Research Synthesis. Available at SSRN 2838066. Junior, R.M., Best, P.J. and Cotter, J., 2014. Sustainability reporting and assurance: a historical analysis on a world-wide phenomenon. Journal of Business Ethics, 120(1), pp.1-11. Moroney, R., Campbell, F., Hamilton, J. and Warren, V., 2014. Auditing: A Practical Approach. Wiley Global Education. Redmayne, N.B., 2013. Auditing and Assurance Services and Ethics in Australia: An Integrated Approach. Journal of Accounting Organizational Change. Simnett, R., Carson, E. and Vanstraelen, A., 2016. International Archival Auditing and Assurance Research: Trends, Methodological Issues and Opportunities. Auditing: A Journal of Practice and Theory.