Oil Industry Master Essay Example | Topics and Well Written Essays - 3000 words

Oil Industry Master - Essay Example This hike in price of oil comes with several causes as well as consequences. There are many factors that lead to a significant rise in oil price when the cost of producing it remains constant. Also, a rise in price brings with it several challenges to the economies of net importing countries and opportunities for exporting countries. The factors affecting the oil price in an international scenario tend to be on the demand as well on the supply side in both short and long run. The effects of oil price happen to be on the business side, consumer side and pure macroeconomic side. This paper investigates into the major factors that bring about a change in the price of oil, in particular, in the recent scenario of oil price hikes. It emphasises what actually has led to such unexpected oil price shocks in the recent years. The paper also sheds light on the effects of changes in oil price on businesses and economies around the world by way of affecting production, consumption, investment and major macroeconomic indicators. The recent dramatic rise in oil price has led the scholars to investigate into the factors affecting the price of oil in short and long term. ... The major demand-side factors that affect the price of oil are economic growth and increased consumption etc. On the other hand, the major supply-side factors playing a role in increasing oil prices are incapability of OPEC to produce more, inability to gauge future demand and political factors etc. Other important factors influencing the price of oil are speculation and futures trading. The point that is important here is that both the demand and supply related factors as well as some apparently uncontrollable factors combine to cause such unexpected hike in international oil price as witnessed in the last few years. In the beginning of last century when oil was considered to be sufficient for world consumption, the economic growth was limited to a few countries. Most of the oil was imported to the highly developed countries of that time to fuel their industries and transportation etc and the consumption of oil was also limited as compared to present times. As the time passed, major changes in the world economy began to mark their presence. More and more countries entered the race of economic growth with certain prominent countries like the United States, Britain, and other European countries accelerated their economic growth. Barrell and Pomerantz also propound that "changes in oil prices have been associated with major developments in the world economy" (2004, p152) This economic growth came about through obviously a thorough industrialisation process in these countries enhancing the demand for more and more oil. Thus, a rapid economic progression of already developed countries has led to ever rising consumption of oil, causing a deterioration of world

Software Development Research Paper Example | Topics and Well Written Essays - 250 words

Software Development - Research Paper Example There have been heated debates on the best strategy of developing software. Take a strategic position on this debate. Create an argument for which method (in-house, onshore, or offshore software development) is the best in terms of cost, security, reliability, and intellectual property protection. Support your response. In-house software development is the best choice in terms of cost, security, reliability and intellectual property protection for a company. By developing the software in-house, you are ensuring that you are using your own people, people who are already familiar with the company, how it works, what needs changing, and more importantly, how the software needs to work in order for the employees to do their job. This also ensures that there are no security leaks, that the company itself is able to see every step of the way what is being done, which allows for directional changes to be made quicker than if another company has to create something and then submit it for review, and it ensures that no other companies are able to take your ideas and use them as their own, ensuring the intellectual property rights of the company itself. Studies have shown that outsourcing brings with it â€Å"cultural barriers, expertise transfer difficulties and communication and coordination overhead. â⠂¬ ¦ (It) is riskier and more challenging that collocated development† (Bird, Devanbu, Gall & Murphy, 2009). Question 2: IT governance is concerned with organizational investments in IT and to ensure that the IT strategy delivers full value. The avoidance or prevention of IT strategic failures is the biggest part of IT governance. Describe two issues that drive IT governance. IT governance is driven by the quality of the internal structure of the system, and the cost of the system itself. â€Å"The malfunction of a key IT system sometimes leads to heavy financial losses,† (Bart & Turel, 2010), and as such, IT governance must strive to ensure that those key