At the same time H1N1 epidemic Swine Flu hit the world and tourism deteriorated by various degrees. After suffering these blows, the hotel industry managed to gain back its footing on the economic map. Industry structure, which determines the profitability of the average competitor and sustainable competitive advantage which allows a company to outperform the average competitor.
In part, this is due to new technologies that have been developed to advance exploration into new areas with harsher weather conditions and greater water depths.
However, there are many competitive forces affecting this industry, brought about by a mix of the market and environmental concerns.
In addition, consumers, retailers and suppliers for oil and gas products influence the distribution and market share for the industry. The 'Go Green' Campaign From environmental organizations to federal and state energy policies, there has been a sustained campaign for zero-emission products.
Today there are several substitutes for both oil and gas when it comes to domestic use and transportation. People have options for electric cookers in the home, electric cars and electric trains.
As the market gradually adopts these green energy use practices, offshore oil and gas exploration faces the threat of limited market and investment dollars in the future. Disaster Response and Safety Management One of the key issues facing the offshore oil and gas industries is complacency on the part of operators.
This can lead to lapses in concentration and taking shortcuts to save time when performing routine work. Failure to follow laid down procedures can easily compromise safety. A minor accident can blossom into a catastrophe such as fire, oil spills and fatalities, exceeding the capacity of the company's response strategy.
It can be a challenge getting help in case an accident occurs due to location. Enacting robust safety management programs that are constantly reviewed and updated can be expensive but is necessary for expedited disaster response. Threat of New Entrants The offshore oil and gas business is very lucrative, especially for the established players in the industry.
However, despite the huge capital required, investors go the extra mile to get into this business, with new entrants forming a large number in many markets. These new entrants act as a very crucial competitive force as they come in with new ideas and technology, threatening to dominate the offshore markets.
The older companies may find it expensive to upgrade their systems or replace them altogether to conform with changing technology, giving the new entrants an edge.
Starting right from generic competition to specific tranceformingnlp.com of new entrants: The threat of new entrants is basically from other countries to India. Here the providers of the Travel and Tourism industry are: 1. The threat from new entrants will depend upon the strength of the barriers to entry and the likely response of existing competitors to a new entrant. Barriers to entry are factors that make it difficult for a new entrant to gain an initial foothold in a market. Middle East’s travel and tourism industry uphill economic battles, the travel and tourism industry is set to welcome a new entrant: the silver tourist. As the threat of climate change looms upon GCC and it’s tourism landscape, there are important control measures to be.
Security Threats Offshore oil and gas installations are susceptible to attack from various quarters. With the advent of digitization and information systems management for data generated by the plant, there is potential risk for a cyberattack by hackers.
Internal sabotage can also be effected by current or former employees who may be dissatisfied in some way and want to get back at the company. Such sabotage may take the form of damage to equipment, disruption of processes or deliberate destruction of data.
Other sources of threats will depend on the location of the installation and include terrorism, piracy or organized crime.
References 2 Journal of Energy Security: Protecting Offshore Oil and Gas Installations: Security Threats and Countervailing Measures About the Author Dr Jack Gordon, the Chief Technology Officer at Strontium Logistics, is a year veteran of the engineering and marketing business who favors stiff drinks, good debates and developing innovative digital marketing strategies to help companies grow.The threat of new entrants Travel industry usually requires low skilled employees and large amount resources.
Regarding travel agents financial barrier are low for new entrants, especially after internet was invented.5/5(10).
Threat Of New Entrants A major force shaping competition within an industry is the threat of new entrants The threat of new entrants is a function of both barriers to .
Potential Of New Entrants into The Industry The hotel industry globally is characterized by high capital costs i.e. the total cost that is required to project a commercially operable status.
The hotel has to make sure that the high capital cost is gaining its worth in the form of output and the resources are used to . Middle East’s travel and tourism industry uphill economic battles, the travel and tourism industry is set to welcome a new entrant: the silver tourist.
As the threat of climate change looms upon GCC and it’s tourism landscape, there are important control measures to be. Porters Five Forces:Fig 1:Threat of New EntrantsThreat of new entrants into the tourism industry is very high; there were a handful of low-priced carriers in the UK, flying mostly to holiday destinations.
Threat of New Entrants. The offshore oil and gas business is very lucrative, especially for the established players in the industry. However, despite the huge capital required, investors go the.