International Trade Operations in Egypt Essay Example | Topics and Well Written Essays - 1000 words

International Trade Operations in Egypt - Essay Example The paper tells that Egypt happens to be the most populated Arab nation. It also happens to be the second most populated African Nation. Most of the population of Egypt is concentrated in the big cities like Alexandria and Cairo and in and around the Delta of the Nile Valley. The population in the rural areas in Egypt is on the decline because a large number of Egyptian populations are migrating to the urban hubs to assess a better life style and to benefit from the economic development taking place in these urban hubs. Egypt could be classified to be a well educated nation with its literacy rate being 71.4 percent. In Egypt education is free right up to the university level and it is compulsory from age 6 through 15. The long standing Egyptian President, Hosni Mubarak had to resign following large scale political protests in the nation, predominantly led by the young people. In the year 2004, the Egyptian government initiated large scale economic reforms aimed at privatizing the los s making public sector units and rationalizing the tariffs and taxes. Egypt experienced a commendable economic growth, resting at 7 percent till the year 2008. However, with the onset of the global economic crisis, the economic growth went below the earlier 7 percent mark. Considering the recent, widespread political protests in Egypt, the rate of economic growth could be expected to remain low for the time. However, it could reasonably be assumed that Egypt is gradually moving towards a democratic, parliamentary form of government. With the initiation of the political reforms, the Egyptian economy could favorably be expected to align further with the Global economic trends and Practices. Slide II Egypt is not only the home to a fast growing population, but, the positive thing is that a majority of the Egyptian population comprises of young people and the aged constitute a miniscule of the Egyptian population. It is a fact corroborated by commonsense that young people are usually mo re open to new ideas, ways of doing things, products and services. Besides, young people are usually more informed about the global trends be they political, economic or culinary. Also considering the large size of the population that mainly comprises of young people, Egypt will have to import more food products to feed it. Going by the fact that most of the Egyptian farming and diary is concentrated in the Nile Valley, which comprises of a meager arable land, not capable of producing enough food to feed the large Egyptian population, it could well be expected that in the times to come, Egypt will have to rely on the outside sources to feed its fast growing population. Also, going by the concentration of young people in the Egyptian population, in the times to come it could safely be assumed that this relatively young population will exhibit a marked preference for foreign foods and culinary delights. In that context, it is a propitious time for the Content Cow Diary to export its p roducts to Egypt. If it forays into the Egyptian markets right now, it could pragmatically expect to consolidate its position in the Egyptian markets, in the times to come. Slide III International trade to a large extent is determined by the free interplay of demand and supply and the economies of scale that varied nations command in the context of specific products. If one looks at the GDP of Egypt, one could easily see that the agriculture sector contributes a meager 14.4 percent to the national GDP (CIA The World FactBook, 2012). In contrast, the other pillars of the Egyptian economy that are industry and services sector contribute 39.5 percent and 45.8 percent respectively to the national GDP (CIA The World FactBook, 2012). Thus, it will be quiet realistic to assume that the agriculture sector in Egypt is not well developed and modernized and could not be expected to churn out enough to be able to feed

There are limitations, but financial and management accounting perform Essay

There are limitations, but financial and management accounting perform a fundamental role in the measurement of performance wit - Essay Example In this context, the performance measurement has been characterized as an activity of key value for organizations in different industrial sectors. The specific issue is examined in this paper; emphasis is given on the role of the financial and management accounting in performance measurement, as a key part of strategic decision process in modern organizations. It is concluded that both financial and management accounting are quite important for the successful development of performance measurement schemes – even if, in certain cases, the involvement of financial and management accounting in performance measurement causes delays in the completion of the relevant processes – under the terms presented below. Because of the above problem, a series of recommendations has been included in this study aiming to support the improvement of performance measurement systems. 2. Performance measurement in organizations 2.1 Performance measurement – description, role The use of performance measurement in modern organizations has been related to the achievement of specific organizational targets. Most commonly, the performance measurement is used a firm’s managers in order to evaluate whether the organizational activities manage to achieve a particular level of performance – as set by the planners of these activities. In this way, it will be possible to estimate if these activities have paid back the investment made on them or not. In practice, the performance measurement – as one of the firm’s key strategic processes – can be quite complex. This fact is reflected in the theories developed in the particular field – referring to the content, the role and the phases of performance measurement in modern organizations. At a first level, certain differentiations can be identified in the criteria used by theorists when having to define the performance measurement; however, a close examination of their views would lead to the assumption that they all emphasize on the value of performance measurement as a tool for estimating the achievement of organizational goals – including the risks involved. In accordance with Hatry (2006) the performance measurement can be defined as the ‘regular measurement of the results (outcomes) and efficiency of services or programs’ (Hatry 2006, p3). On the other hand, Meyer (2003) notes that the term ‘performance measurement’ can be explained using two different definitions: the dictionary definition, which focuses on the past, i.e. on the performance of the organization up to the time point when its performance is measured and the economic definition, which refers rather to the future, emphasizing on ‘the measurement of the shareholder value into the firm’ (Meyer 2003, p20). It is further explained that in the context of the dictionary definition ‘performance is measured by operational measures or current financial res ults’ (Meyer 2003, p20); on the other hand, the economic definition is based on the measurement of performance ‘using share prices’ (Meyer 2003, p20). Another definition of performance measurement is mentioned in the study of Harbour (1997); in the above study reference is made to the performance measurement as a method for ‘measuring work accomplishments and output’ (Harbour 1997, p7). At the next level, Epstein et al. (2006) emphasize on