Monday, January 27, 2020

Deregulation Of Downstream Oil And Gas Industry Business Essay

Deregulation Of Downstream Oil And Gas Industry Business Essay This study began with a historical background of deregulation, government motives and the benefits the deregulation of downstream oil and gas industry will deliver to Nigerians. The literature review provided an assessment of the opinion of two schools of thought: the opposing and the supporting group for deregulation. Their different views gave insight into the various reasons why government should or should not deregulate the industry. The purpose of the study is aimed to answer three questions: (1) What informed governments deregulation of the downstream oil and gas industry and is it the only solution in Nigerias economic environment? 2) How can the government improve the implementation of the deregulation of the downstream oil and gas industry to achieve the actual policy objective? (3) In what way can government encourage the private sector to fully participate in the downstream oil and gas deregulation exercise? In order to answer these questions, this study solicited the views of Nigerians and some industry professionals through self-administered questionnaires. Response by industry professionals addressed the perspective of strategic management, implementation, innovation and competitive forces. The response from other Nigerians addressed the perspective of effects, challenges and prospects of deregulation. By using broad theoretical approach, this study has demonstrated that a wider scope and broader assessment of the downstream oil and gas sector deregulation can be achieved. The theoretical framework has also been empirically tested through the questionnaire response and hypotheses that were carried out and it has proven to be effective in understanding the dynamics of the industrys deregulation programme. The responses provided by industry professionals answers the first question on what informed governments deregulation of the downstream oil and gas industry and is it the only solution in Nigerias economic environment. The second and third questions were also answered by them. Two respondents were not in support of deregulation, while the other two were in favour of the governments deregulation programme, stressing that deregulation is the only remedy for the problems in the oil and gas industry. Their views on the implementation of deregulation, control mechanism by regulatory agencies, innovation and competitive forces shows similar response. They feel government is not implementing deregulation properly and suggested a fully deregulated downstream oil and gas sector as against the current partial deregulation where NNPC is still involved in marketing activities and fixing product prices. On the aspect of government encouraging the oil marketers to ensure the success of deregulatio n, respondent (B) suggested providing loan facilities for them while, respondent (C) felt that providing a level playing field for equity and equal participation will drive the success of deregulation. From the analyses on quantitative data which illustrate the views and opinions of 150 Nigerians on the effects, challenges and prospects of the downstream oil and gas industry deregulation, we can infer that there is no significant difference in the response in support that deregulation would deliver positive effects to Nigerians and those against. The response on if challenges in the industry will hinder the success of deregulation also indicates no significant difference between those in support and those not in support. However, the response to the prospects of deregulation shows a significant difference in support that deregulation of the sector will facilitate better economic prospects and opportunities. In conclusion, based on the responses and views of Nigerians towards the downstream oil and gas deregulation, the study findings shows that deregulation of the sector is not properly implemented by the regulatory agencies. It also shows that the sector has been transformed to become competitive and market driven. It further reveals that the sector is not fully deregulated to enable market forces determine price, rather government is still fixing petroleum product prices. The overall result indicates that Nigerians are fully in support of deregulation of the sector, believing it will deliver positive effects, reduce challenges in the sector and create better prospects and opportunities. 6.2 Recommendation The purpose of this study is to examine the effects, challenges and prospects of the deregulation of the downstream oil and gas industry in Nigeria. To establish this objective, an analysis was conducted to evaluate findings on the effects, challenges and prospects. The study also examined deregulation implementation, competitive forces and innovation in the industry. This study recommendation would be based on the research findings, which includes the following: The response from staff (C) as shown in the appendix, suggests that the government is yet to fully deregulate the industry and NNPC is also still involve in product importation and distribution. He argued that the intending benefits of deregulation can only be achieved if the government totally discontinues direct participation and concentrates its efforts on the regulatory role. Against this background, this study recommends that government should display seriousness in implementing complete deregulation in the sector in accordance with the original policy framework. More oil marketers should be licensed, opportunities for free entry and exist should be allowed to encourage competition, equal participation and equity should be practiced without any sacred cow and more importantly, the demand and supply mechanism should be allowed to determine prices. This is the conventional concept that is obtainable in most countries where deregulation is practiced. The need for government to encourage and support oil marketers is also recommended in order to assist them acquire loan facilities. This view is consistent with the response from respondent (A) and (B) that suggested the provision of loan schemes most especially to indigenous oil marketers to grow in the industry. They argued that if governments wants to ensure that fuel scarcity is nipped in the bud, loan facilities should be granted to them to avoid supply lapses. This view is also supported by Kolawole (2012) who observes that probe by legislators of the sector reveals that the local content policy by way of encouraging indigenous operators are not enforced as claimed by The Indigenous Ship Owners Association of Nigeria (ISOAN). The ISOAN accused the NNPC of deliberately side-lining Nigeria ship owners from lifting fuel both locally and international. The practice by NNPC will not encourage the deregulation program. A non-discriminatory system should be enforced, especially to the local oil marketers and vessel owners. Inefficiency and lack of integrity contributes largely to the major problems affecting the downstream oil and gas sector. Corruption is the main problem militating against the government policy agenda of deregulation (Auwal and Mamman, 2012). According to respondent (C) he posits that the government monitoring arm like the PPPRA, DPR NNPC and the security agents saddled with the responsibility of appraising and ensuring the success of deregulation are complete disappointment and have failed in their assigned responsibility because of their corrupt practices. This implies that government should fight corruption by ensuring that the agencies responsible for implementing and coordinating the deregulation program are monitored to ensure they discharge their jobs with integrity. Corrupt officers collaborating with fuel importing syndicates to frustrate government policies of proliferation of refineries in Nigeria should be fetched out, arrested and punished in order to serve as a deterren t to others. To maintain competitive advantage under the industrys current deregulation platform requires innovative and strategic approaches to gain market position. This view corresponds with the observation made by the industry respondents on the high competitive nature of the sector. Hence, prompting them to carry out market intelligence to have a competitive edge over their competitors. Essentially, the oil marketers should be more proactive by engaging in technological innovations, training courses, research and development in order for them to remain competitive. They should also invest in high tech facilities like oil discharge jetties, pipeline networks for oil and gas product distribution to their customers. According to Barney and Zajac (1994) competitive strategies depends significantly on firms resources and capabilities. However, if the strategies are not adopted, the capabilities are more likely to emerge during periods of turbulence and market instability. Hart (1995) also argues that innovative strategies can lead to the development of firms specific capabilities which can be a source of competitive advantage. The analysis of the downstream oil and gas industry using Porters Five forces framework shows that the threats of new entrants is low. The reason as observed by respondent A and B is that the sector is capitally intensive with the old oil marketers enjoying economies of scale and large customer loyalty. New entrants are struggling to penetrate the industry under the deregulated environment. The analysis also reveals that threats of substitute to petroleum products is low. According to respondent C there is over dependence on petroleum products in the country without any foreseeable alternative in the near future. The bargaining power of suppliers as observed by respondent A is high, NNPC is mainly the dominant importer and distributor with only few other importers participating. This study recommends that for deregulation to succeed, the government should promote alliances and mergers among the smaller marketers in the industry to enable them take market position. Government should a lso think of diversification into renewable energy sources like wind energy, tidal waves and solar energy which is in high abundance in the country. This will reduce the high demand and over dependence on petroleum products. More oil marketers should be encouraged to get involved in products importation and distribution. The refineries should also be privatized for them to function properly and discourage importation. The adoption of these measures by the government will create the enabling environment for deregulation to succeed. BIBLIOGRAPHY BOOKS Ansoff, H. I. (1965). Corporate Strategy: An Analytical Approach to business policy for growth and expansion. Newyork: McGraw-Hill, 1965. (pp. 118-121). Babbie, E. (2004). The practice of social research (10th ed.). Belmont, CA: Wadsworth. Best, J. W. and Khan, J.V. (1993). Research in Education 7th Edition. Boston: Allyn and Bacon Boutellier, R., Gassmann, O. and Von Zedtwitz, M. (2000). Managing Global Innovation. Berlin: Springer. pp. 30. ISBN 3-540-66832-2. Bryman, A. (2004). Social Research Methods. 2nd edition. New York: Oxford University Press. Burns, T. and Stalker, E. (1961). The Management of Innovation. London: Travistock. Chandler, A.D. Jr. (1962). Strategy and Structure: Chapters in the History of the Industrial Enterprise. Cambridge, MA: MIT Press. Charles, W. L. H. and Gareth, R. J. (1989). Strategic Management; An Integrated Approach. Houghton Mifflin Company. Copyright edition. p. 69. Cliff, B. and David A. (1987). Strategic management. Macmillan Press Ltd, 1st Edition. p. 77. Collis, J. and Hussey, R. (2003). Business Research, Second Edition. Palgrave and Macmillan. Collis, D.J. and Montgomery, C.A. (1997). Corporate Strategy: Resources and the Scope of the Firm. Boston: Irwin. Crotty, M. (1998). The Foundations of Social Research: Meaning and Perspective in the Research Process. London: SAGE Publications Ltd. Cyert, R. and March, J. (1963). A Behavioural Theory of the Firm. Englewood Cliffs, NJ: Prentice-Hall. Gerry, J., Richard, W. and Kevan. S. (2011). Exploring Strategy Text and Cases. Pearson Education Limited, 9th Edition, p. 61-64. Given, L. M. (2008). The Sage Encyclopedia of Qualitative Research Methods. Sage: Thousand Oaks, CA, Vol.2, pp.697à ¢Ã¢â€š ¬Ã‚ 698. John, L. T. (2001). Strategic Management fourth edition Produced by Gray Publishing, Tunbridge Wells. (p.9). Kotler, P. and Amstrong, G. (2000). Principles of Marketing. New Jersey. Prentice Hall Inc. Learned, E.P., Christensen, C.R., Andrews, K.R. and Guth, W.D. (1965). Business Policy: Text and Cases. Homewood, IL: Richard D. Irwin. Lawrence, P.R. and Lorsch, J.W. (1967). Organization and Environment: Managing Differentiation and Integration. Division of Research, Harvard Business School, Cambridge, MA. Leedy, P.D. (1985). Practical Research, Planning and Design. London: McMillan Publishers. Leedy, P.D and Ormrod, E.J. (2001). Practical Research : Planning and Designing. Merrill Prentice Hall: Upper Saddle. March, J.G. and Simon, H.A. (1958). Organizations. New York: John Wiley. McQuail, D. (1994). Mass Communication Theory. London: Sage. Michael, D. M. (2002).Qualitative Research in Information Systems. SAGE Publications, Limited. Miles, M. B. and Huberman, A. M. (1984). Qualitative Data Analysis, a Sourcebook of New Methods. Beverley Hills, CA, USA.: Sage Publications. Minztberg, H. (1979). The Structuring of Organisations. Englewood Cliffs, N.J. ; Prentice Hall, 1979. P. 25. Peter, W., Charles, D. P. and Mark, J. K. (1994). Strategic Management Text and Cases, Second Edition. Copyright by Allen and Bacon, 1994. (p. 4). Porter, M.E. (1980). Competitive Strategy: Techniques for Analysing Industries and Competitors, Free Press. Ralph, D. S. (1996). Strategic Management and Organisational Dynamics. Pitman Publishing, 1996. Second Edition. (p. 8). Rumelt, R.P., Schendel, D.E. and Teece, D.J. (eds) (1994). Fundamental Issues in Strategy. Cambridge, MA: Harvard Business School Press. Seale, C. (2004). Researching Society and Culture. 2nd edition. London: SAGE Sullivan, A. and Sheffrin, S. M. (2002). Economics: Principles in Action. New Jersey: Pearson Prentice Hall. ISBN 0-13-063085-3. Thompson, A. A. and Strickland, A. J. (2001). Strategic Management Concepts and cases. McGraw-Hill, 12 th Edition, (p. 5-7) Thompson, J.D. (1967). Organizations in Action. New York: McGraw-Hill. Tidd, J. and Bessant, J. (2009). Managing Innovation: Integrating Technological, Market and Organizational Change. 4 ed. with Keith Pavitt. Chichester: Wiley. Trott, P. (2005). Innovation management and new product development, 3rd edition, Financial Times Prentice Hall. Cited in Johnson, Whittington and Scholes, Exploring Strategy, 9 th edition, Prentice Hall, p. 296 Woodward, J. (1965). Industrial Organization: Theory and Practice. New York: Oxford University Press. ARTICLES AND JOURNAL Abu, I. N. (2012). Deregulation and Privatisation of the Upstream and Downstream Oil and Gas Industry in Nigeria: Curse or Blessing? International Journal of Business Administration Vol. 3, No. 1; January 2012, 16 ISSN 1923-4007 E-ISSN 1923-4015. www.sciedu.ca/ijba Acemoglu, D., Aghion, A. and Zilibotti, F. (2006). Distance to frontier, selection, and economic growth. Journal of the European Economic Association, 4 (1), 37-74. Adelabu, N. S. (2012). The Political Economy of Oil Deregulation in Nigerias Fourth Republic: Prospects and Challenges. Journal of Emerging Trends in Educational Research and Policy Studies (JETERAPS) 3(3): 193-198, Afeikhena, J. (1996). Privatisation of Public Enterprises in Nigeria: Expectations Illusion and Reality, in Ademola, A. ed., Economic Reform and Macroeconomic Management in Nigeria, Ibadan: Centre for Public Private Cooperation, at 79. Akinwumi, F.S., Isuku, E. J. and Agwaranze, D. Q. (2005). University Education Deregulation: Pros and Cons, in G.O. Akpa, S.U. Udoh and E.O. Fagbamiije (Eds). Akper, P.T. (2001). Socio-Political and Economic Reform in Nigeria In: Political Reform and Economic Recovery in Nigeria, in Ayua, I.A and D.A. Guabadia (Eds.) Nigeria Institute of Advance Legal Studies, Lagos, ISBN: 9789782353702 Alesina, A., Ardagna, S., Nicoletti, G., and Schiantarelli, F. (2005). Regulation and investment. Journal of the European Economic Association, 3 (4), 791- 825. Amana, A. R. and Amana, S. A. (2011). Oil, Product Price Deregulation and National Development in Nigeria. Department of Banking and Finance, Faculty of Management Sciences, Kogi State University, Anyigba, Nigeria. Auwal, U. and Mamman. J. A. (2012). The downstream Sector: An Assessment of Petroleum Products Supply in Nigeria. Bafor, B. E. (2001). Economic and Social constraints to Harnessing the Potentials of the Upstream Sector of the Nigeria Petroleum Industry. Baily, M., Gordon, R. and Solow, R. (1981). Productivity and the services of capital and labour. Brookings Papers on Economic Activity, (1), 1-65. Barney, J. B. and Zajac, E. J. (1994). Competitive organisational behaviour: Towards and organisationally based theory of competitive advantage. Strategic Management Journal, Winter 1994, 15, pp. 5-9. Beim, D. O. and Charles, W. C. (2001). Emerging Financial Markets. New York: McGraw-Hill. Blanchard, O. and F. Giavazzi 2003. Macroeconomic Effects of Regulation and Deregulation in Goods and Labour markets, Quarterly Journal of Economics: 879-906. Carson, D., Gilmore, A., Perry, C., and Gronhaug, K. (2001) Qualitative Marketing Research. London, UK: SAGE. Clark, C. H. (1980). Idea Management: How to Motivate Creativity and Innovation. New York: AMACOM. Cohen, W.M. and Levinthal, D.A. (1990). A new perspective on learning and innovation, Administrative Science Quarterly, Vol. 35, No. 1, 128-52. Dalziel, P. (2010). Spending in the economy, Economic reform from 1984. Te Ara the Encyclopaedia of New Zealand. DME, (2007). Deregulation of the petroleum industry position paper, Deregulation of the Petroleum Industry. Is it an option for RSA now? Duffy, M.E. (1986) Quantitative and qualitative research: antagonistic or complimentary? Nursing and Health Care 8:6, 356-357. Ehinomen, C. and Adeleke, A. (2012). An assessment of the distribution of Petroleum products in Nigeria , Department of Economics and Business Studies Redeemers university, Nigeria. Ekundayo, A. and Ajayi, A. I. (2008). The Deregulation of University Education in Nigeria: Implication or Quality Assurance. Nebuta. Ernest, P. and Young, C. (1988). The Colonial State and Postcolonial Crisis, in Ernest P. and Young, C. The Transfers of power, 1960 1980. New Haven and London Tale University press. Essien, A. and Isacc, A. (2012). Oil Subsidy Removal in Nigeria: Chasing Water Falls. University of Uyo, Nigeria. Estache, A. and Wren-Lewis, L. (2009). Toward a theory of regulation for developing Countries: Following Jean Jacques Laffonts lead. Journal of Economic Literature, 47 (3), 729-770. Evans, L., Grimes, A. and Wilkinson, B. (1996). Economic Reform in New Zealand 1984-95: The Pursuit of Efficiency. Journal of Economic Literature 34 (4): 1856-1902. Ezeagba, C. E. (2005). Deregulation of Nigerian Economy: Implications for the Downstream Petroleum Industry, Certified National Accountant. Foster, C. (1993). Privatization, Public Ownership and the Regulation of Natural Monopoly. London: Basil Blackwell. Given, L.M. (2008). The Sage encyclopedia of qualitative research methods. Los Angeles, Calif. Sage Publications. ISBN 1-4129-4163-6. Green, R. (1994). Britains Unregulated Electricity Pool in Einhorn, M. (ed): From Regulation to Competition; New Frontiers on electricity Markets. Boston: Kluwer Academic Publisher. Hart, S. L. (1995). A natural resources based view of the firm. Academic of Management Review, 20(4), pp. 986-1014. Healey, N. (1990). Thatcher miracle in perspective. Economic and Political Weekly, 25(31), 1703-1704. Hudson, L. A, and Ozanne, J. L, (1988). Alternative Ways of Seeking Knowledge in Consumer Research, 14 (4), 508. Innocent, O.E. and Charles, O.C. (2011). Political Economy Of deregulation Policy In Nigeria. The Challenges Ahead, Journal of business and organizational development. Volume 2, cenresin publications .www.cenresin.org Izibili, M. and Aiya, F. (2007), Deregulation and Corruption in Nigeria: An Ethical Response, Kamal -Raj. Journal of Sciences. 14(3): 229 234. Jean, B. (2012). The Political Economy of Oil Subsidy in Nigeria International Association for Energy Economics. Kahn, A. E. (2004). Lessons from deregulation: Telecommunications and airlines after the crunch. Washington, D.C. AEI-Brookings Joint Centre for Regulatory Studies. Kelly, P. and Kranzburg M. (1978). Technological Innovation: A Critical Review of Current Knowledge. San Francisco: San Francisco Press. Kikeri, S. and Nellis, (2004). An Assessment of Privatization . The world Bank Res. Obs. 19: 87-118. Mathew, A. I. and Fidelis, A. (2007). Deregulation and Corruption in Nigeria: An Ethical Response. Kamla-Raj 2007, J. Soc. Sci., 14(3): 229-234. Mathews, K., Minford, P., Nickell, S. and Helpman, E. (1987). Mrs Thatchers Economic policies 1979-1987. Economic Policy, 2 (5), 59-101. McCormick, R., W. Shugart and R. Tollison (1984). The Disinterest in Deregulation, Economic Review 74, pp. 1075-79. Morgan, I. (2004). Jimmy Carter, Bill Clinton, and the new democratic economics. The Historical Journal, 47 (4), 1015-1039. Navarro, P. and Shames, M. (2003). Electricity deregulation: Lessons learned from California. Energy Law Journal, 24 (1), 33-64. Noll, R. and B. Owen (1983), The Political Economy of Deregulation (Washington: American Enterprise Institute). Nordhaus, W., Houthakker, H. and Sachs, J. (1980). Oil and economic performance in industrial countries. Brookings Papers on Economic Activity, 11 (1980-2), 341-399. Nwokeji, G. U. (2007). The Nigeria National Petroleum Cooperation and the development of the Nigeria oil and gas industry: History, strategies and current directions . University of California, Bekerly, Odeh, A. M. (2011). Deregulation Policy in the downstream oil sector and the Nigeria economy. Journal of Social Science and Public Policy, Cenresin Publications. www.cenresinpub.org Oduah, S.A. (2006). Oil and Gas Financing in Nigeria: Issues, Challenges and Prospects. Chartered Institute of Bankers, Nigeria, (p, 272). Ogunbodede, E. F., Ilesanmi, A.O. and Olurankinse, F. (2010). Petroleum Motor Spirit (PMS) and Nigerian Public Passenger Transportation System. The Social Sciences, Volume: 5, Issue: 2, Page No. 113-121. DOI: 10.3923/sciences. Olumide, I. (2011). Nigerian oil industry and fuel subsidy: the facts, the myths and the hidden truth! Oluwole, O. (2004). Deregulation of the Downstream Petroleum Sub-Sector: The Journey so far. A paper presented at a seminar organised for the executives of the central bank of Nigeria (CBN). Onyishi, A. O., Eme, O. I. E. and Ikechukwu, E. J. (2012). Domestic and International implications of subsidy removal crisis in Nigeria. Department of Public Administration and Local Government, University of Nigeria, Nsukka. Peltzman, S. (1976). Toward a more general theory of regulation. Journal of Law and Economics, 19 (2), Conference on the Economics of Politics and Regulation, 211-240. Malden, MA 02148, USA. Pol Herrmann (2005). Evolution of strategic management: The need for new dominant designs International Journal of Management Reviews Volume 7 Issue 2 pp. 111-130 Blackwell Publishing Ltd 2005, 9600 Garsington Road, Oxford OX4 2DQ, UK and 350 Main Street. Posner, R. (1974). Theories of Economic Regulation, Bell Journal of Economics and Management Sciences (Autumn), pp. 335-58. Posner, R. (1975). The social costs of monopoly and regulation. The Journal of Political Economy, 83 (4), 807-828. Ramanadham, V.V. (1993). Constraints and Impacts of Privatization. London: Routledge. Rassenti, S. J., Smith, V. L. and Wilson, B. J. (2002). Using experiments to inform the privatization/deregulation movement in electricity. Cato Journal, 21, 515-544. Rothwell, G. and Gomez, T. (2003). Electricity economics: Regulation and deregulation. Piscataway, NJ: IEEE Press. Slater, S. F. and Narver, J. (1994). Does competitive environment moderate the market orientation performance relationship, Journal of Marketing, Vol. 58. (January), 46-55. Stigler, G. (1974). Free Riders and Collective Action: An Appendix to Theories of Economic Regulation, Bell Journal of Economics and Management Science 5 (Autumn), pp. 359-65. Stigler, G. (1971).The Theory of Economic Regulation, Bell Journal of Economics and Management Science 2 (Spring), pp. 3-21. Trott, P. (1998). Growing businesses by generating genuine business opportunities, Journal of Applied Management Studies, Vol. 7, No. 4, 211-222 Winston, C. (1993). Economic deregulation: Days of reckoning for macroeconomists. Journal of Economic Literature, 31 (3), 1263-1289. Winston, C. (1998). U.S. industry adjustment to economic deregulation. Journal of Economic Perspectives, 12 (3), 89-110. WEBSITE Aghion, P., Alesina, A. and Trebbi, F. (2007). Democracy, technology and growth. NBER Working Paper No. 13180. http://www.nber.org/papers/w13180 (Last visited 12/02/2013) Braide, K.M. (2003). Modes of deregulation in the downstream sector of Nigeria Petroleum Industry. http://www.nigerdeltacongress.com/marticles/modes_of_deregulation_in_the_dow.html (Last visited 16/02/2013) Diezani, A. M. (2012). Investment Opportunities in Nigerias Downstream Oil and Gas Value Chain.Download powerpoint presentation 1-New World Nigeria www.newworldnigeria.com (Last visited on 20/02/2013) EIA, (2012) Energy information administration, Country Brief. http://www.eia.gov/countries/cab.cfm?fips=NI (Last visited 25/02/2013) Elf-Rufia, (2011). Oil and Gas (3), The Downstream Dilemma. http://saharareporters.com/article/oil-gas-3-downstream-dilemma-nasir-ahmad-el-rufai (Last visited 02/03/2013) Enenmoh, G. I. (2004). Investment Opportunities in a Deregulated downstream Petroleum Sector. At PPPRA Nigeria http://www.pppra-nigeria.org/articles.asp (Last visited 08/02/2013) Graham, H. (2000). Chi-Square Test: Research Methods 1 Hand-out, COGS-version 1.0, September 2000, page 1. http://www.sussex.ac.uk/Users/grahamh/RM1web/sthand5.pdf (Last visited 25/02/2013). Guichaoua, Y. (2006). Oil and Political Violence in Nigeria h Stewart, S. (2001). Deregulation and National Competition Policy and its Effect on Rural and Regional Areas. http://www.ifri.org/files/Energie/GUICHAOUA.pdf (Last visited 04/02/2013) Hicks, M. (2004). Petroleum Products Pricing Commission. Commissioner expresses concern over looming fuel-prices crises. http://www.releases.gov.nl.ca/releases/2004/gsl/0515n01.html (Last visited 16/02/2013) Hirsch, R. F. (1999). Power loss: The origins of deregulation and restructuring in the American electric utility system. Cambridge, MA: MIT Press. http://www.history.vt.edu/Hirsh/KJT-screen.pdf (Last visited 06/02/2013) Holly, R. (1999). Deregulation of the Canadian Natural Gas Market. http://www.piac.ca/energy/deregulation_of_the_canadian_natural_gas_market/ (Last visited 28/02/2013) Ibanga, I. (2011). The economics of privatization and deregulating the Nigerian downstream oil sector. http://www.florin.com/valore/ifiokibanga.html. (Last visited 14/02/2013) Inhaber, H. (2002). Deregulation and its Discontents. Ideas in Action, Grace Creek Media and The George W. Bush Institute. Published June 10, 2012. http://www.ideasinactiontv.com/tcs_daily/2002/02/deregulation-and-its-discontents.html (Last visited on 26/02/2013). Jeff, C. L. (2010). Chi-Square Test, Encyclopedia Entry. http://srmo.sagepub.com/view/encyc-of-research-design/n48.xml (Last visited 28/02/2013) Kimberly, A. (2013). About.com Guide: Deregulation. http://useconomy.about.com/od/glossary/g/deregulation.htm (Last visited 09/02/2013) Krugman, P. (2001). Laissez Not Fair. York Times (New York Times Company). Published June 10, 2011. http://en.wikipedia.org/wiki/Deregulation (Last visited 17/02/2013) Lesser, V. (2007). Advantages and disadvantages of probability and nonprobability sampling. http://people.oregonstate.edu/~hunterzk/ncat/pubs/TRANSED/1081_Surveys.Pdf (Last visited 26/02/2013) NEEDS, (2004). National Economic Empowerment and Development Strategy. NEEDS National Planning Commission Abuja. http://www.ng.undp.org/documents/NEEDS/NEEDS.pdf (Last visited 18/02/2013) NEEDS, (2012). National Economic Empowerment and Development. Strategy NEEDS http://ji4d.org/wp-content/uploads/2012/02/NEEDS.pdf (Last visited 14/02/2013) Okafor, L. (2004). Deregulation Of The Nigerian Downstream Oil Sector; Keeping Faith With A Global At PPPRA Nigeria http://www.pppra-nigeria.org/articles.asp (Last visited 06/02/2013) Pera, A. (1988). Deregulation and privatization in an economic wide context. OECD Economic Studies No. 12, Spring 1989, http://www.oecd.org/dataoecd/18/43/35381774.pdf (Last visited 15/02/2013) PPPRA (2004). Resentations on Deregulation. www.pppra-nigeria.org/presentation.asp (Last visited 17/02/2013). Richard, A. (2012). FAQ on Deregulation of the Downstream Petroleum Sector and Removal of Fuel Subsidy. http://www.bizhallmark.com/index.php/feed/permalink/6557.txt (Last visited 19/02/2013) Tosanwunmi, O. (2012). Fuel Subsidy Removal or Deregulation: Evolving a Working Policy in Nigeria. http://alphaedufoundation.org/ (Last visited 13/02/2013) Wiley, J. (1999). Sampling of Populations: Methods and Applications www.oecd.org/dataoecd/11/53/33659904.pdf (Last visited 21/02/2013) Wolak, F. (2001). Market Design and Price Behavior in Restructured Electricity Markets: An International comparisons, Working Paper http://www-leland.stanford.edu/~wolak (Last visited 18/02/2013) Wolfl, A., Wanner, I., Kozluk, T. and Nicoletti, G. (2009). Ten years of product market reforms in OECD countries Insights from a revised PMR indicator. OECD Economics Department Working Papers No. 695, Apr., http://www.oecd.org/dataoecd/29/41/42779045.pdf (Last visited 23/02/2013) OTHERS Adebayo, A. (1999). Facing the future of Nigeria. Lecture Delivered for Policy and Strategic Studies, Kuru, Jos, Nigeria. Adedipe, B. (2004). The impact of Oil on Nigerias Economic Policy Formulation. Paper presented at the Conference organized by the Overseas Development Institute in Collaboration with Nigerian Economic Summit group. Adeogun, A. (2010). No Cartel is Big Enough to Determine Fuel Prices Under a Deregulated Regime, Daily Sun, Th

Sunday, January 19, 2020

Compare and Contrast Two Supply Chains

To start, it is vital to clarify the concept of a supply chain. It consists basically of all the process that the materials suffer as they flow from the source to the final customer. There are many concepts linked to this term, purchasing, warehousing, manufacturing, etc. Or more precisely: â€Å"a supply chain is a system of business enterprises that link together to satisfy consumer demand. The elements of a supply chain can be contained in the same business or be part of different companies† (Riddalls et Al. 2000) For this essay I have chosen two very different companies; Zara, a Spanish fashion collection manufacturing company, and Dell, American multinational information technologic corporation. Some years ago, in the fashion industry there was a relationship between price and quality. For high quality brands, there was a need to spend a high amount of money. Zara was one of the first companies that changed this assumption by introducing good quality clothes at a good price. Normally, if you look at any other brand such as Loewe, Louis Vuitton, etc. you will realize that they basically have two different collections of clothes: autumn- winter and spring-summer. Zara does not use in this way of supplying their stores. On the contrary they believe in change. They are constantly changing their clothes and supplying their stores (over 14,000 stores in the whole world) with new and different outfit two times per week (only for the European stores) to satisfy the needs of their customers. Traditionally all the fashion companies required long time to supply the stores with the clothes. Basically the whole supply chain has very long lead times; if you want to produce a new t-shirt, the production, manufacturing, packaging and specially distribution will require a lot of time which will make the planning for weeks or even months. Zara, on the contrary, has manage to minimise the time to supply the demand as much as possible but, how do they do that? First of all they minimize the time spent in design, as they don’t always look for the most innovative and creative clothes. What they do is listen to consumer preferences and what it is more popular and produce what they want. That is why they always have fresh and trendy designs. In terms of production, they have and control the main factory in La Coruna (north of Spain) to be able to supply as fast as possible all the stores. The fact of having the factory in Europe and not in other countries such as China is high, but it is something that is covered by lower transportation costs as well as the capacity to supply demand almost immediately, which its translated in big amount of sells. It is a very flexible demand based production. Another positive point of Zara, due to high frequency of changing clothes is the low risk that this report. As they change constantly the outfit, if there is a product that is working good it can be immediately replace within a maximum of one week, while in other companies, where the stock is bigger, it will need to be stored in the shops for longer time. This will carry on low inventory costs. Zara, has an agile production that focus it success in the quick response to demand even though it is no, a priori, predictable. Dell’s supply chain, on the other hand it is completely different that Zara’s one. The components of Dell’s supply chain are the customers, Dell’s website (which is the only official place where you can buy a Dell computer), Dell’s assembly plant and Dell’s suppliers. The way Dell computers production works is completely different from Zara. In the previous example we saw that the company was the one regarding the demand and trends in order to make their products (clothes). Dell provides the customers a platform, their webpage, where they have all the different options for their products.

Saturday, January 11, 2020

A History of Greek Festivals

In the Archaic Period four major festivals were established which brought together Greeks from across the known universe to vie in athletic and later on musical competitions. The first was the Olympic Games which has a traditional foundation day of the month of 776 BC. This was followed by three more in speedy sequence in the early 6Thursdaycentury BC. Together these festivals made up the ‘periodos’ [ 1 ] which was extremely important in furthering the dealingss between Greeks from different topographic points and between Greeks and non-Greeks. The competition between those take parting and the city states they were stand foring is an illustration of how those Pan-hellenic dealingss were developing. Other countries are how the direction of each of the festivals and who really attended these ‘Panhellenic’ festivals. The honor and glorification gained by the masters in each of the four Games was so great that the lone stuff awards straight received from the organizers were Crowns of assorted workss sacred to the Gods that the festivals were dedicated to. [ 2 ] This led to the term ‘periodonikes’ being created which was given to the jocks that had won competitions at all four Games and were considered to be the greatest jocks for this accomplishment. [ 3 ] This could propose that the competition between the jocks would be so ferocious that tensenesss would be created in dealingss between persons in add-on to the city states that they were stand foring. On the other manus it is deserving observing that Olympic masters were non above the jurisprudence in their place province as can be shown in the narrative of Philippos of Croton who was exiled after he became betrothed to a adult female from Sybaris even though he had been winning at the Olympic Games. [ 4 ] The memorials that were bui lt by the city states shows the committedness they had to guaranting the remainder of the Greek universe could retrieve their triumphs for many old ages to come. Not merely were the memorials dedicated to athletic triumphs but the sanctuaries where the four Panhellenic Games were held besides contained memorials honoring military triumphs over other city states. [ 5 ] This suggests the metropoliss were non interested in whether their oppositions were offended and hence strains in the dealingss between them due to the struggles the memorials were mentioning to would go on. Shortly after the creative activity of the four Panhellenic festivals in the early 6Thursdaycentury BC Athens began reorganizing their Panathenaia festival in order for it to include athletic tourneies in add-on to the musical and ecstatic competitions that had been held at that place. [ 6 ] Consequently the Panathenaic festival became more important within the athletic universe yet it was ne'er regarded every bit extremely as the four Panhellenic festivals that made up the ‘periodos’ which can be seen through the usage of expensive stuff awards [ 7 ] as opposed to the Crown prizes masters took off at the Olympic, Pythian, Isthmian and Nemean Games. This suggests the jocks would hold a focal point of winning the awards alternatively of the honor they received through their triumphs. Consequently, the city states they represented would hold had less of an involvement in whether they won if the glorification of triumph was less than that in ‘periodos’ triumphs and therefore dealingss between different city states would hold been more likely to be unchanged. The lone city state to truly profit from the revitalised Panathenaic festival would hold been Athens as they had the chance to advance their metropolis to visitants from beyond Attica yet it has been suggested that the Panathenaia was ne'er supposed to be Panhellenic and was alternatively supposed to back Athenian national pride which is why dealingss between Greeks remained unchanged. [ 8 ] The last race to be added to the programme of events at the Olympic Games in approximately 520 BC was the ‘hoplitodromos’ which involved jocks running in full armor. This peculiar race besides featured in the other Panhellenic Games which suggests the importance of such a race. Pausanias suggests the race could hold been designed to advance military preparation as contending wars was common in the Archaic Period and the menace of struggle with Iranian forces was increasing. [ 9 ] This ‘military training’ could hold besides been a manner for the city states to expose their military art and hence derive farther glorification from a military facet in add-on to the athletic facet. However Philostratus suggests as it was the last race of the competition that it symbolised the return to a militant nature after the ‘peaceful’ armistices that were established for the continuance of each of the Panhellenic festivals. [ 10 ] The armistices referred to above were designed to advance peace amongst the city states of Greece as it prohibited ground forcess to come in the countries around the sanctuaries where the festivals were held and ensured the safe transition of those go toing the festivals. [ 11 ] However as it may hold ensured peaceable dealingss for city states such as Elis it did non forestall wars from taking topographic point outside of these parts. However holding a armistice in topographic point meant people from all over the Grecian universe and beyond could garner in one topographic point and set up peaceable dealingss with others every bit good as keep them. As minister plenipotentiaries were sent out from the city states where the festivals were held in the months taking up to each of the Games to denote the beginning of them this was a method of advancing the Games whilst at the same clip advertising the city-states themselves and networking with the remainder of Greece as representatives f rom each metropolis would be chosen to have the minister plenipotentiary. [ 12 ] Harmonizing to Pausanias Pisa originally had control over the metropolis of Olympia and hence would hold governed the Olympic Games. However their â€Å"hostility† towards the Eleians caused a war which saw Elis conquer Pisa and claim the site of Olympia as theirs. [ 13 ] This combat over the ‘Panhellenic’ sanctuaries suggests metropoliss would be prepared to pay a war if it resulted in them having the honor that must hold come with bring forthing the most esteemed Games in this period. The existent disposal of the Olympic Games by the city state of Elis was by and large considered to be without prejudice. [ 14 ] The Judgess were Eleian and chosen by Elis and as a consequence it did pull some unfavorable judgment from foreigners such as Herodotus who describes the narrative of when citizens of Elis visit Egypt to inquire them their sentiment on whether the Games were being administered reasonably to which they reply they are non because Eleians themselves could co me in the competitions and therefore they would non be judged reasonably against people from different topographic points. [ 15 ] This suggests Herodotus is belittling the unity of those judging the competitions who had even named themselves as ‘Hellanodikai’ which means ‘judges of the Greeks’ . [ 16 ] It is possible that many other Greeks had this position and so it would hold the possible to make tensenesss within dealingss between those pull offing the festival and the foreigners who were take parting in it. However they may be some truth to these positions as Thomas Heine Nielsen states that Elis was the most successful province to vie in the Olympics with the bulk of triumphs in the boy’s competitions and the equestrian events although you would anticipate more entrants from Elis into these tourneies as they were closest to the Olympic sanctuary. [ 17 ] The history of the locations of the four Panhellenic festivals was important in pulling Greeks from afar as the city states that were bring forthing these Games relied on the fabulous importance of the sites. In add-on to holding sanctuaries dedicated to a major God and world-renowned prophets in topographic points like Delphi these city states managed to utilize outstanding fabulous figures such as Heracles as a method of advancing their festivals. At Olympia Heracles was traditionally the laminitis of the Olympic Games and his undertaking of get the better ofing the Nemean king of beasts was used for the Nemean Games. In Delphi it was thought that there was a battle between him and Apollo over a tripod which surface in the early 6Thursdaycentury BC. [ 18 ] Furthermore, the Isthmian Games were held in honor of Poseidon and as a consequence the Equus caballus races were the most of import portion of the festival at that place. [ 19 ] This mixture of major Gods and heroes from mytholo gy ensured the success of the Panhellenic festivals in add-on to developing the construct of Panhellenism as people from across the Grecian universe would hold identified with these myths which suggests dealingss between them would hold improved. Relationss besides had the possible to be fostered through the construction of the Pythian Games as forfeits and banquets were the lone events on the first two yearss of the five-day festival. This gave rivals and witnesss alike the â€Å"opportunity to socialize and advance sentiments of harmoniousness and community.† [ 20 ] An confederation of city states known as the Amphictyonic League were responsible for puting up the Pythian Games and the readyings for them every four old ages after they had been winning in the First Sacred War. [ 21 ] This is an illustration of Greeks from different topographic points working together and their desire to prolong the dealingss created by their engagement in the war. Producing a festival would hold besides promoted peace and community values which is shown by the Pythian armistice established during each festival. A important historical figure associated with taking the reorganization of the Pythian Games after the First Sacred War was the tyrant Cleisthenes of Sicyon. McGregor besides believes that Cleisthenes of Sicyon was linked with the other Panhellenic festivals every bit good. The narrative of Cleisthenes and his daughter’s suers at Olympia maintains the thought that the Olympic Games were truly a universe phase for powerful leaders to acquire their vo ices heard. However Cleisthenes seemingly favoured the suers from Eretria and its Alliess as they were Ionians and he was traditionally thought to be anti-Dorian. [ 22 ] This suggests divisions amongst those viing could be formed as a consequence of cultural differences and that dealingss could go labored between Greeks from different topographic points as a effect. Furthermore, there is a possibility that the Nemean Games were established by the less dominant city state of Cleonae in concurrence with Argos in resistance to Cleisthenes of Sicyon after Cleonae had secured their freedom from Sicyon. [ 23 ] If this is true so it is farther grounds of the Panhellenic Games being used to do tenseness between city states. On the topic of who was really allowed to vie in the four Panhellenic Games it seemed to be originally sole to the nobility and the wealthy as the funerary games in honor of Patroclus in the Iliad show blue Greeks from many different topographic points compete in the chariot race which was the chief event. Chariot races were preponderantly for the wealthiest as Equus caballuss were expensive and hard to develop which meant they could expose their wealth whilst set uping dealingss with Greeks from different topographic points. [ 24 ] On the other manus this suggests that the poorest in society would non hold competed in the Panhellenic festivals such as the Isthmian Games where the equestrian events were considered to be the most esteemed and so if they did take part it would be in inferior events where they could non derive as much glorification. The suggestion that poorer persons would non vie in the major four Panhellenic festivals is evidenced by the point that they would non hold had the clip for athletic preparation [ 25 ] or to go to the four sanctuaries where each of the four Games were held if they lived a long distance off. Furthermore there were local festivals and games they could hold competed in which would hold been much more practical [ 26 ] but if this was the instance for most Greeks so at that place would hold been less of a fosterage of dealingss between people from different topographic points if they were merely interacting with others from the same community. However by the 6Thursdaycentury BC other events were added to the Panhellenic Games which meant the poorer in society could take part [ 27 ] as they were athleticss that were practiced throughout the whole of the Grecian universe. [ 28 ] This implies that the festivals became more Pan-hellenic as more people from different topographic points would be more likely to come in the competitions. Bury suggests that autocrats were the cause for this alteration as they wanted to defend the common people in order to win their support. [ 29 ] However if this ground is true so Panhellenism would merely be a side-effect of the autocrats desiring to derive more power and keep their reign. In add-on to this the autocrats could besides be a beginning of tenseness within dealingss between Greeks from different topographic points as is shown from the illustration of Cleisthenes of Sicyon trying to put up his ain Pythian Games in Sicyon after the autumn of dictatorship in Corinth meant they had more i nfluence in Delphi. [ 30 ] Relations between Corinth and Elis were besides strained in this period because of Olympia’s refusal to wipe out the names of the Cypselidae from some offerings which resulted in no Eleians being allowed to vie in the Isthmian Games and hence they were non able to derive the extremely esteemed ‘periodonikes’ rubric that athletes longed for. This is an illustration of a city-state utilizing its authorization over one of the Panhellenic festivals to demo their resistance to another city state which would hold had a well negative consequence on dealingss. In contrast Pausanias suggests that it was the â€Å"curses of Moline† that kept the Eleians off from the Isthmian Games. [ 31 ] Officially all free Grecian males were permitted to vie in the Olympic Games but this meant â€Å"females, non-Greeks and slaves were excluded from direct participation.† [ 32 ] However the Judgess make up one's minding who could come in the competitions must hold been moderately flexible with the regulations as there is no record of person being refused entry on the evidences of their cultural individuality. [ 33 ] As a consequence of this many Grecian settlers from distant topographic points like Sicily and the north shore of the Black Sea came to Olympia during the Olympic festival. [ 34 ] Attending the festivals such as the Olympic Games was a immense benefit to Greek settlements as it meant they could remain in close contact with the mainland and set up connexions with other metropoliss and settlements whilst maintaining a safe distance off from the metropolis it originated from in order to keep its independency. Olympia besides acted as a impersonal land for neighboring settlements who were at war with each other whilst supplying a beginning of military preparation when jocks competed in events such as the ‘hoplitodromos’ so they could support themselves against non-Greeks and other settlements. Western Greeks were slightly influential in the running of the Olympic Games which can be seen by the add-on of two new events in the early 5Thursdaycentury BC that were popular throughout Grecian settlements in the West. [ 35 ] This suggests dealingss between the settlements in the West and the Grecian mainland were good. For the dealingss between Greeks and non-Greeks Panhellenic festivals caused divisions. One of the narratives from Herodotus shows how Alexander’s rivals tried to take him from the race by claiming that he was non genuinely Grecian. [ 36 ] Another states the response of a Iranian when he is told of the â€Å"crown of olive† that athletes compete for in the Olympic Games and he was called a â€Å"coward† by a Grecian male monarch for it. [ 37 ] This dissentious facet of the Panhellenic Games can besides be seen by the usage of nakedness when viing in the competitions as it was considered absurd for high-level males in cultural groups such as the Persians or Lydians to look bare when practising athletics. [ 38 ] These illustrations show the contrasts between the Greeks manner of thought compared to the remainder of the universe and how this was implemented at the Panhellenic festivals. Ultimately the four Panhellenic festivals that formed the ‘periodos’ were designed in a manner that promoted Greek individuality and therefore dealingss between Greeks from different topographic points were frequently fostered through the shared faith and mythology of the sanctuaries where they were held every bit good as the shared athleticss that the competitions were comprised of. Nevertheless the jocks were ferociously competitory as they were the most esteemed competitions in the Greek universe which suggests tensenesss would hold developed in dealingss between non merely the jocks themselves but besides the city states they were stand foring. Armistices were established during each of the four festivals but this did non forestall war from happening outside of the affected parts. Furthermore it was the blue and the wealthy who chiefly competed in the extremely esteemed events such as chariot racing which would hold received the most honour for winning but with autoc rats presenting more events aimed at poorer persons there was the possibility that more dealingss were being fostered between Greeks from different degrees of society. Overall, the Panhellenic festivals did much to further dealingss between Greeks from different topographic points even if it was non the primary purpose sometimes. On the other manus festivals such as the Olympic Games showed a clear divide between the Greeks and the remainder of the universe and consequently dealingss between them would hold been less developed.

Thursday, January 2, 2020

Threw, Through, and Thru How to Choose the Right Word

The words threw, through, and thru are homophones: They sound alike, but threw and through  have different meanings, are different parts of speech, and were derived from different words. Thru means the same as through but is an abbreviation used appropriately only in certain informal contexts. How to Use Threw Threw is the past tense of the verb throw, which usually means to cause something to move through the air, either by hand or with a device such as a catapult, but it has many other meanings. It can also mean to dislodge (The horse threw its rider.), to move suddenly or forcefully (The angry guest threw his clothes into a suitcase.), to cast dice, to make pottery, or to lose deliberately (The losing team threw the game.). Throw, the present tense of threw, came from throwen, a Middle English word meaning to twist, wring, or hurl, which in turn came from thrawan, an Old English word meaning to throw or twist. How to Use Through Through can function as an adjective, adverb, or preposition, each with a variety of meanings.  It often suggests a passage: from start to finish or from point A to point B. Through as an adjective can also mean finished, over, or completed, or it can mean free passage or nonstop. As a preposition, it means by, using, or as a result of. Through came thurgh or thrugh, a Middle English word that itself came from thurh, an Old English word. Both mean through or beyond. How to Use Thru Thru is still considered an informal spelling, though it predates through by more than 100 years. In its early days, English was an entirely phonetic written language, and thru was one of many spellings of the word. But beginning in the early 16th century, standardization of spelling triggered by the printing press threw many variants, including thru, into disuse. At the same time, written English was influenced by Old Norse and French spellings, resulting in words such as through. Thru is listed as a preposition, adverb, or adjective, but, despite its pedigree, its still considered more appropriate in informal writing such as a text message,  a tweet, or a road sign (such as No thru street) than in a formal essay, professional writing, or a report. Examples These sample sentences illustrate the varied meanings of threw, through, and thru: Buddy threw the baseball all the way from the outfield to home plate. Here threw means hurled.Charles walked through the museum, looking for the schools of art that he had studied in school. In this example, through indicates a passage from one point to another.Marjorie is a senior and, at the end of the week, will be through with school. Here through means finished.Paul took a through train to avoid all the intermediate stops. In this usage through means nonstop.Betsy learned about the job through an ad she saw on Craigslist. Here it means as a result of.The sign at the fast-food restaurant pointed out the location of the Drive-Thru Window. This example illustrates an informal use of thru as having the same meaning as through. Idiomatic Uses of Threw Uses of threw can be expanded to include several other meanings by way of idioms, or expressions using a word such as threw that are recognized as having different meanings from the literal definition of the word. These include: Threw a monkey wrench into, meaning sabotaged. His decision to quit his job threw a monkey wrench into Sarahs vacation plans.Threw cold water on, meaning discouraged by criticizing. Every time Bill thought he had a great idea, his boss threw cold water on the proposal.Threw oneself at, meaning tried hard to win attention or affection. He threw himself at Angie, but she made it clear that she wasnt interested in him.Threw oneself into, meaning tried vigorously. Sam wanted to get ahead in his job, so he threw himself into his work. Idiomatic Uses of Through Through also appears frequently and usefully in idioms: Through and through, meaning completely, thoroughly, or throughout. She was a Denver Broncos fan, through and through.Go through with, meaning to experience, examine carefully, perform, use up, or complete. Despite the setbacks, she pledged to go through with the project.Go through  the roof, meaning to get very angry—When Janet came in late from a date, her mom went through the roof—or to rise to a higher level—Bobby began applying himself to his studies and his grades went through the roof. Sources How Thru Turned Into Through: And Then to Thru Again. https://www.merriam-webster.com/words-at-play/how-thru-turned-into-through.Commonly Confused Words: Through vs. Thru vs. Threw. https://www.bkacontent.com/commonly-confused-words-through-vs-thru-vs-threw/.