Unemployment in UK Essay Example | Topics and Well Written Essays - 1000 words

Unemployment in UK - Essay Example Unemployment in UK The thing that makes unemployment most dangerous is that it directly affects the growth of a nation and this is becoming evident for UK. United Kingdom, arguably Europe’s most influential country over the history has been dealing with this ailment since the early 1970’s. The unemployment rate in the United Kingdom was last reported as 8.4% in December 2011. (Hamilton) Due to this it is very important to analyze the cause of this mass unemployment in UK, and to find viable solutions to this particular problem. Summary of Articles As proposed by Hamilton, in his article â€Å"U.K. Unemployment Increases as Global Outlook Cut: Economy† published in Business Week (January 18, 2012), mass unemployment in UK touched its zenith in 16 years in November 2011. This was primarily due to Britain’s plunge into recession again. The unemployment rate according to the International Labour Organisation (ILO) rose to a staggering 8.4%, the highest recorded since January 199 6. The number of people attaining jobless benefits rose to a figure of 1.6million. The World Banks’ estimation of global growth has experienced repeated down grades in last three years. The prime reason that has been forwarded by them is a declining state of the UK economy. Since UK is a part of the European Union and enjoys a quite significant status hence the euro-area crisis is being compounded by Prime Minister David Cameron’s budget cuts. This is affecting consumer confidence negatively and will lead to a further loss of employment for about 700000 workers by 2017. As specified by Nida Ali, an economic adviser in the Ernst & Young item club, the future for the labour market is pretty dismal. She even expects the rate of unemployment to rise by another 9.3% in a year. ITEM (Independence Treasury Economic Model) Club acknowledged that Britain has been struck by recession once again and Europe’s incapability to end the crisis of debt had a simultaneous effect on Royal Bank of Scotland group in United Kingdom. It has proposed last week that it will shut down its corporate-finance units and equities that will cut down almost 35000 jobs. Hamilton has also cited the ITEM club regarding the possibility of 600 job cut by â€Å"Premier Foods Plc† to illustrate the grim situation in UK job market. (Hamilton) According to Barrow in his article â€Å"Foreign workers take yet more UK jobs as number of Britons in work plunges and youth unemployment hits 1 million† published in Daily mail UK, a prime reason for unemployment in UK is the increased absorption of foreign workers by the firms belonging to UK instead of own domestic workers. Most of the business entities in UK hire foreign workers and that has left United Kingdom’s unemployment rate at the highest in 17years. The ministers termed this as â€Å"unacceptable†, but the management of the reputed entities in UK pointed out that many young British workers are lazy an d incapable at basic works, which made them to shift towards the foreign workers. As an example, the proportion of foreign workers at a leading firm of plumbers, â€Å"Plimico Plumbers†, has doubled over the past two years because the domestic British workers lack the right work ethics. Furthermore it is often seen that the workers are more interested in real wage than nominal wage courting a fall in their purchasing power. (Barrow) Evaluation & Conclusion It has been specified by Hamilton that the Prime Minister of UK has been administering a budget

Re-introducing Wendy's into Singapore Dissertation

Re-introducing Wendy's into Singapore - Dissertation Example These factors have also enhanced the profitability of the food and beverages industry of this country. The popularity of Western fast food among the population is also increasing and hence, many global fast food companies like McDonald and Burger Kings has entered in this market. Wendy’s entered in Singapore market during 1980s but due to unfavourable forces, it had to withdraw from Singapore in 1997. However, Wendy’s has again entered in Singapore market with the collaboration of Kopitiam Group who has bought Wendy’s franchises. This paper attempts to evaluate the success of Wendy’s in Singapore market after its re-entry and to offer relevant recommendations for reintroducing its brand in Singapore. Wendy’s is the third largest fast food chain in the global food and beverages industry and it is very famous for its old fashioned hamburgers. In other global markets, Wendy’s has been successful but when it entered in Singapore market during 198 0s, it was unable to survive. Now, in order to make successful re-entry, the company needs to reposition its brand image among the target consumer groups by implementing proper branding strategies and conducting brand awareness in the market. In this respect, this paper presents a detailed literature review focusing on multiple models and theories of branding strategies. There are four major sections in literature review which includes brand reintroduction and repositioning, brand awareness and its importance, building brand image and different models for framing branding strategies. In order to draft branding strategies, two dimension strategy and Ansoff model is very useful to determine the market situation and multiple strategic directions. Promotional strategy is very important aspect in branding strategy and hence, implementation of integrated marketing communication is the most suitable in this respect. In order to meet the objectives of this research paper, it is necessary to generate key information and hence, an extensive research has been conducted. For measuring the feasibility of Wendy’s re-entry in Singapore market, primary as well and secondary data has been analysed. Secondary data analyses have disclosed that due to growing economic condition and increasing popularity of western fast foods, F&B industry of Singapore is growing at decent rate. The profitability of fast food outlets is the higher that other F&B sectors like restaurants and other food caterers. The primary data analyses have disclosed that new consumers want to taste Wendy’s food as most of them have aware of this brand. Primarily, they look for high quality product with fast and efficient services. The consumer loyalty rate is high in Singapore consumers and most of them prefer the brand like McDonald, MOS Burger, Burger Kings etc. Therefore, there is a great opportunity for Wendy’s success, if it can develop its own base of loyal consumers by providing high quality prod