Mcdonald’s History

McDonald’s Bar-B-Que, was a â€Å"Drive-in Restaurant† in 1940 which was conceptualized by Richard (Dick) and Maurice (Mac) McDonald’s. Drive-in concept was a new and unique idea to adapt which caught everyone’s attention (Our Company, 2011). The initial mascot of the famous fast food restaurant was â€Å"Speedee. † â€Å"Speedee† was a hamburger-headed man wearing a chef’s hat (McDonald’s, 2011). However, running a restaurant is not a piece of cake, thus, by 1948 they made alterations in their menu by reducing the available food items and calls itself a â€Å"self-service drive-in restaurant. The new nine items presented in 1948 were: hamburger, cheeseburger, soft drinks, milk, coffee, potato chips and a slice of pie (Our Company, 2011). In the following year potato chips were replaced by French fries along with additional ‘triple thick milkshakes. ’ In 1954, enters a new significant character for McDonald’s, Ray Kroc. He was fascinated by the profitable new concept by the brothers whom produced best quality product, on the contrary to providing a small menu in a small restaurant. At the same time the Dick and Mac McDonald’s were in search of an agent to help them begin nationwide franchising (Our Company, 2011). Their vision turned into reality by the help of Ray Kroc. In 1955, Kroc opens a McDonald’s in Desplaines, Illinois which brought in a lot of cash for the corporation (History, 2011). And by the end of 1950s they managed to open 100 McDonald’s restaurant. Following decade started, the 60s, McDonald being itself, so successful, opened a Hamburger University in Illinois. During this year they created McDonald into a proper restaurant with indoor seating (Our Company, 2011). They received their first TV commercial hit via their new mascot Ronald in 1966. In the following year, 1967, McDonald’s goes international and today, 2011, it has restaurants in 118 countries all around the world. It is now known to be the world’s largest hamburger fast food restaurant serving more than 52 million customers daily (History, 2011). And Thailand ranked as number 28 by nation master manages to have approximately 88 McDonalds’ restaurants (Food Statistics, 2011). In 1985, the first McDonald’s restaurant opened in Amarin Plaza, Bangkok, Thailand. McDonald provides protein-full menus including: chicken, pork, beef and seafood. Throughout time McDonald’s in Thailand has embraced the early-morning working culture and started Big Breakfast. Moreover, they also present customer favorites such as McNuggets, burgers, fried chicken and ice cream (History, 2011). Although, McDonald’s in Thailand follow strict 5 operating principles or philosophy you may call it which includes QSC & V. These letters represent: Quality, Service, Cleanliness and Value. McDonald’s main focus is to produce 100% total customer satisfaction. However, focusing on the 5 figure formula to operate McDonald’s successfully; firstly, quality, is regarding the food presented to the customers. For example, McDonald’s consistently provides their customers with healthy, best standard and tasty products. Secondly, service embraces the efficient and friendly service available at McDonald’s. Their focus on service makes sure that McDonald’s can maximize customer satisfaction offering full help via provided techniques and training. Thirdly, cleanliness was first magnified by Ray Kroc back in 1955. From that day till today, McDonald’s makes sure they present themselves cleanly. Cleanliness in a fast food restaurant has to deal with a clean kitchen, dining area, rest rooms and the exterior. Lastly, value is all about the experience you pay for and prices of the products at McDonald’s. The experience they allow you to have is the environment, fine service and enjoyable food (QSC&V, 2011). Reference http://www.aboutmcdonalds.com/mcd/our_company/mcd_history.html?

Free Essays on Foregin Exchange Risk

Executive Summary Foreign exchange (FX) risk is the risk that profits will change if FX rates change. FX risks present complicated transfer pricing issues. Under today’s system of floating FX rates, currencies often move dramatically over short periods. In one two-day period in 1998 the yen/U.S. dollar exchange rate moved nearly 20 percent. Empirical studies demonstrate that FX volatility can significantly affect companies’ profits. Multinational businesses face several types of FX risk, including financial, translational, transactional and economic FX risk. We focus here on economic risk, also known as operational or competitive FX risk. Economic risk arises, for example, when a multinational business incurs costs in one currency and generates sales in another. Profits may decrease if the cost currency appreciates against the sales currency. Under today’s system of floating FX rates, currencies often move dramatically over short periods. In one two-day period in 1998 the yen/U.S. dollar exchange rate moved nearly 20 percent. Empirical studies demonstrate that FX volatility can significantly affect companies’ profits. Multinational businesses face several types of FX risk, including financial, translational, transactional and economic FX risk. We focus here on economic risk, also known as operational or competitive FX risk. Economic risk arises, for example, when a multinational business incurs costs in one currency and generates sales in another. Profits may decrease if the cost currency appreciates against the sales currency. FX risk could affect Multinational businesses competitive position in the following ways: - Initial loss of sales as lower-priced Japanese products enter the market. - Reduced gross margins after reducing prices to compete with the Japanese products; and - Further loss of sales if Acme’s cost structure prevents it from matching prices for the Japanese products Background on... Free Essays on Foregin Exchange Risk Free Essays on Foregin Exchange Risk Executive Summary Foreign exchange (FX) risk is the risk that profits will change if FX rates change. FX risks present complicated transfer pricing issues. Under today’s system of floating FX rates, currencies often move dramatically over short periods. In one two-day period in 1998 the yen/U.S. dollar exchange rate moved nearly 20 percent. Empirical studies demonstrate that FX volatility can significantly affect companies’ profits. Multinational businesses face several types of FX risk, including financial, translational, transactional and economic FX risk. We focus here on economic risk, also known as operational or competitive FX risk. Economic risk arises, for example, when a multinational business incurs costs in one currency and generates sales in another. Profits may decrease if the cost currency appreciates against the sales currency. Under today’s system of floating FX rates, currencies often move dramatically over short periods. In one two-day period in 1998 the yen/U.S. dollar exchange rate moved nearly 20 percent. Empirical studies demonstrate that FX volatility can significantly affect companies’ profits. Multinational businesses face several types of FX risk, including financial, translational, transactional and economic FX risk. We focus here on economic risk, also known as operational or competitive FX risk. Economic risk arises, for example, when a multinational business incurs costs in one currency and generates sales in another. Profits may decrease if the cost currency appreciates against the sales currency. FX risk could affect Multinational businesses competitive position in the following ways: - Initial loss of sales as lower-priced Japanese products enter the market. - Reduced gross margins after reducing prices to compete with the Japanese products; and - Further loss of sales if Acme’s cost structure prevents it from matching prices for the Japanese products Background on...

Traditional Vs. Roth IRA Your Ultimate IRA Guide

Traditional Vs. Roth IRA Your Ultimate IRA Guide SAT / ACT Prep Online Guides and Tips IRAs, or independent retirement accounts, are tax-advantaged savings accounts that help you save money for retirement. There are two main types, traditional IRAs and Roth IRAs, and they work in slightly different ways. This guide will tell you everything you need to know about traditional and Roth IRAs and help you decide which type of account is better for you. Before delving into the differences, let’s go over what you need to know about independent retirement accounts in general. What Is an IRA? An IRA is a type of savings account designed to help you save for retirement. IRAs offer a major tax advantage wherein your money is only ever taxed once. In a brokerage account, your money can be taxed twice. An IRA is made up of financial products like stocks, bonds, and mutual funds. The money you contribute will slowly grow over time as a result of annual compound interest. Typically, savings in IRAs grow at a rate of 5% to 7% each year. While this growth won’t look like much at first, it can add up significantly over the decades. If you start saving in your twenties rather than your thirties, you’ll see a huge difference in returns. When it comes to saving for retirement, you’re much better off the earlier you start. While you can start contributing to an IRA at any time, you must abide by an IRA contribution limit. Read on to find out how much money you can put each year into your IRA. By putting your money in a protected environment, it can grow significantly bigger over time. How Much Can You Contribute to an IRA? Whether you have a traditional IRA or Roth IRA, you can only contribute up to $5,500 per year. This was the IRA contribution limit for 2015 and 2016. It could change in years to come due to inflation. If you’re over 50 years old, then you can contribute $1,000 more for a yearly total of $6,500. This extra $1,000 added to the IRA contribution limits is considered a â€Å"catch up† contribution to help out those who didn’t max out their limits in earlier years. Most people contribute to their IRAs via automatic monthly payments. You can put in as much or as little as you like, but you’ll see the greatest long-term benefit by contributing up to the $5,500 limit. Now that you have a general sense of IRAs and how they help you save for retirement, let’s look closer at the differences between a traditional vs. a Roth IRA. People 50 and over can contribute an additional $1,000 per year to catch up as they round the bases toward retirement. Roth vs. Traditional IRA: How Are They Different? The major difference between a traditional IRA and a Roth IRA has to do with how your money is taxed. By learning about the different tax structure, you can figure out which one is more advantageous to you, depending on your age and financial profile. The second difference when you look at Roth vs. traditional IRA has to do with when you can withdraw money. Consider the tax and withdrawal rules for traditional IRAs, followed by the tax and withdrawal Roth IRA rules. Tax Advantages of a Traditional IRA Traditional IRAs allow your money to grow completely un-taxed until you take it out. You contribute pre-taxed money, which grows in your account until you withdraw. While your money is tax deductible when you contribute to a traditional IRA account, it’s taxed normally when you withdraw. You’ll pay all the taxes that you didn’t pay before, but you may find that you’re saving money on taxes overall. Why? You may be in a lower tax bracket when you retire than you were when you were working and contributing money to your IRA. Traditional IRA Withdrawal Rules When you contribute money to a traditional IRA, you can’t touch it until you’re 59  ½ without penalty. If you withdraw money before, then you’ll have to pay a hefty 10% penalty. It’s recommended that you take out about 4% of your savings per year during retirement. Some accounts also have required minimum withdrawals (RMDs) that compel you to take out a certain amount of money once you hit 70  ½. Even if you’re still working at age 70  ½, you’ll be required to start withdrawing money from your IRA. the amount of the RMD varies by individual and is calculated based on your account balance and age. When you contribute to a traditional IRA, your money is basically kept under lock and key until you’re 59  ½. Tax Advantages of a Roth IRA While traditional IRAs are taxed later, Roth IRAs are taxed now. In other words, you contribute money that’s already been taxed to a Roth IRA. You don’t get any tax breaks for your contributions, but you won’t have to pay any taxes when you withdraw. Basically, a Roth IRA works in the exact opposite way of a traditional IRA. You pay taxes when you contribute and not when you withdraw, whereas with a traditional IRA you pay taxes when you withdraw and not when you contribute. Roth IRA Withdrawal Rules Roth IRA rules are more flexible than those of traditional IRAs about when you can withdraw your money. You can take out money from a Roth IRA at any time without penalty as long as you’ve held the account for at least five years. Technically, you can only withdraw money you’ve contributed without penalty. You can’t touch any earnings on your contributions until you retire. Roth IRAs also don’t have any RMDs, so you’re not required to take out your money once you surpass a certain age. With a Roth IRA, you could withdraw all your funds after five years to buy that pleasure yacht you’ve had your eye on. But, you probably shouldn’t. Traditional IRA vs. Roth Ira- Which One Should You Choose? Given the difference between Roth IRA rules and traditional IRA rules, which account would be more beneficial to you? The answer to that question largely depends on your age and current tax bracket. Younger people typically benefit more from a Roth IRA. They have plenty of time for their money to grow until retirement, and they’re usually in a lower tax bracket than they will be in 10 or 20 years. If you’re in your twenties and your tax bracket is 20% or lower, then you’ll probably benefit from a Roth IRA. People who are older and/or in a high tax bracket will probably do better with a traditional IRA. They can contribute more money, since it’s not taxed, and pay taxes when they’re in a lower tax bracket after retirement. To see how tax brackets affect your savings in an IRA account, consider the chart below. If your tax rate is lower in retirement Traditional Roth Current tax rate 25% Tax rate in retirement 15% Annual investment $5,500 $5,500 After-tax value in retirement* $613,313 $598,444 *Based on moderate growth (around 8% annual return) over 30 years If your tax rate is higher in retirement Traditional Roth Current tax rate 25% Tax rate in retirement 33% Annual investment $5,500 $5,500 After-tax value in retirement* $505,593 $598,444 *Based on moderate growth (around 8% annual return) over 30 years If your tax rate goes down in retirement, then you’ll have more money from a traditional IRA. If your tax rate goes up, then you’ll end up with more savings from a Roth IRA. A secondary factor to consider when deciding between a traditional and Roth IRA is your financial self-control. As you read above, the two types of IRAs have different withdrawal rules. Will you be able to resist withdrawing money from a Roth IRA before retirement? Since there’s no penalty for withdrawing after five years, you’ll need to set limits on your spending so you don’t end up splurging on a luxury vacation to Fiji with your hard-earned money that was supposed to go toward retirement. If you don’t have clear cut answers to either of these considerations, then you might consider opening both types of IRAs. Choosing between a traditional IRA and Roth IRA requires that you consider the balance between your tax bracket and years until retirement. Can You Choose Both Types of IRAs? If you’re unsure which account is more advantageous to you, then you could consider setting up both a traditional and a Roth IRA. If you start to see real advantages to one over the other, then you could roll your money over to one account. Before opening both types, you should carefully consider the implications of taxes. If you opt for the Roth IRA, then you’ll have to pay taxes on any money that you roll over from a traditional IRA. This money would have otherwise grown untaxed until you withdrew it at age 59  ½. You should also note that opening both types of accounts won’t increase your yearly contribution limit. If you choose both types of IRAs, then the $5,500 limit applies to both. You can only contribute $5,500 collectively to your retirement savings accounts per year. Choosing both types of accounts is unnecessarily complicated for the majority of people. You should only do so if you’ve done some serious calculations and feel that it would be financially beneficial to you in the long term. For most of us, choosing one type of account based on our age and current tax bracket is the better way to go. Once you’ve chosen your type of IRA, how do you get about setting up an account? If you're having trouble deciding between types of IRAs, you could hedge your bets and open both. How to Set Up an IRA There are a number of IRA providers with whom you can set up an account. Most require a minimum investment up front, but some are a lot lower than others. When you set up an account, you can either set it on auto-pilot or take a hands-on approach to choosing your investments and designing your portfolio. Below are six recommendations for the best IRA providers, but first, let’s go over the factors you should consider when choosing an IRA provider. What to Look for When Choosing an IRA Provider The best IRA providers offer some or all of the following: Low account fees Low account minimums Good customer service and educational resources for new investors Low fees for trading stocks (this mostly applies to people looking to take an active approach to building their portfolio) If you fall in the majority of people who want someone else to manage their account, then you should look for a managed account or a target-date fund. In these types of account, you’ll pretty much only have to set your estimated date of retirement. A broker will do the rest. Now that you know what to look for in an IRA account and provider, check out the suggestions for the top six IRA providers. When choosing an IRA account, you should look for low account fees and low account minimums. Best IRA Providers for 2016 Based on the factors listed above, these six providers rose to the top for their low account fees, strong customer service, and other offerings. TD Ameritrade - popular provider with strong resources and support for new investor. TD Ameritrade doesn’t require any minimum balance, and it has a large selection of funds to choose from. One downside is that its trade commission fees are higher than usual at $9.99. TD Ameritrade, then, is a better choice for the new or hands-off investor, but not as popular among active traders. Vanguard - another popular low-cost provider with a $0 minimum balance. Vanguard is especially strong when it comes to target-date funds, where you set your date of retirement and don’t have to do much else. E*Trade - a provider with a large selection of funds and no account minimums. E*Trade stands out for its user-friendly website. Wealthfront - this provider manages accounts of up to $10,000 for no fee. Wealthfront, then, is good for the average investor who wants to take a hands-off approach. Betterment - like Wealthfront, Benefit is appealing to the hands-off investor. It tends to cater to people with large balances of $100k or more. Options House - best for active traders. Options House has a lower than average per trade fee of just $4.95. Once you’ve decided between a traditional and Roth IRA and chosen your provider, how do you open your account? When it comes to choosing an IRA provider, you've got options. Delicious, delicious options. How to Open an IRA Account Opening an IRA account is an easy, online sign-up process. Just head to the website of your chosen provider and fill out the IRA application. You’ll enter personal information, including your social security number and employment information. Most providers offer a different kinds of accounts, so you'll choose the one you want to open. Here's an example from TD Ameritrade's "Open New Account" page. Source: TD Ameritrade You’ll also indicate how you’ll fund the account, e.g., through automatic monthly transfer from your bank account. You can also transfer money from an existing IRA or 401k (an employer-sponsored retirement account). Depending on your funding choice, you may need your account and routing number or the account number of a separate account. The best way to make the most of your IRA is to deposit money on a monthly basis, to max out your annual contribution limit, and to start as early as you can. If you start saving in your twenties, then you could have a savings account with hundreds of thousands of dollars by the time you retire. In closing, let’s go over the key points you need to remember about IRAs. Opening your IRA account is the first step toward a secure retirement! Saving for Retirement in an IRA: Key Takeaways When it comes to saving for retirement, it’s never too early to start. Because your money grows in an IRA, you’ll see significantly more earnings the longer your money is invested in the account. IRA accounts are especially beneficial because of their tax advantages. Your money will only ever be taxed once, either when you withdraw it, as in a traditional IRA, or when you contribute it, as in a Roth IRA. Both accounts have advantages, and the one you choose should largely depend on your age and current tax bracket. While you should figure out which account will maximize your savings, in truth, you can’t go wrong with either. Both are tax-advantaged accounts that will help you save up money that you’ll rely on later in life. By opening and contributing to an IRA, you invest in your future and let your money work for you. What's Next? What is ROA, and how can looking at it provide you with helpful investment information? We discuss the meaning of ROA (return on assets) and how you can use it in this article. Not ready to open up an IRA but still looking for ways to save? Try the 365-day penny challenge!

Analysis of Price Setting, Poverty and Obamacare

Analysis of Price Setting, Poverty and Obamacare Question : 1 Nike’s charge a price Considering the Nike’s charging a price of a Air Jordan Basketball Shoes, economically we shall have to discuss about the price determining factors that why and how the Nike’s and under what circumstances is defining the price. The followings are the factors which can influence the Nike’s price determination: Cost of Product: This means calculation of all costs including procurement of raw material, manufacturing, distribution, labor, and other miscellaneous expenses. If the rate is not inclusive of break-even there would be trouble. So Nike while fixing the price must have notice the cost. Profit Margin: After measuring the cost, the business wants the profit taking as to what extant there should be the earning. So that it may influence the Nike’s strategy while determining price. Market Demand: It plays also a vital role as in case of less demand the price shall be lower while in case of high demand the price shall be high. Demand & Supply concept affects the price determination. Experience & Market Credibility: This is also a known factor to the price determination because the credibility in the market gives the seller sound position and the buyer trust the goods produced by well experienced and well reputed manufacturer so that they also influence the price determination factor. Market Competition: In case of excess of business rivals, there is a strong competition occurs in the market so that the prices are to be determined in a way to attract the buyer maximum. [1] The all above factors generally influence the price determination therefore we can say that Nike can charge the price as it may has considered the above factors. Its cost & profit margin as well product demand may influence and would demand the price that Nike is going to fix. Que: 2 Explain in detail what is being done to combat poverty? But also add why poverty is so hard to define and ultimately solve. Th e poverty is a state of person in which is becomes unable to meet his necessities from the resources available to him. The necessities include, food to maintain the hunger, education, healthcare facilities, shelter to reside, clothes and the means to live and improve. It is a hard task to define and measure the poverty since past because the growth rate of the population is increasing with a high margin than the growth in resources. All around the world especially the third world countries are facing this problem more. The United Nations has been planning and working to reduce the poverty in collaboration with IMF, World Bank and other financial institutions. A statistical figure printed by â€Å"One Day’s Wage† show that the 2.4 billion people around the world have been living on less than $ 2/day and approximately 1.2 billion are living on less than $ 1.24. (Extreme Global Poverty) [2] . About 3.4 million people die every day because of water related disease and appr oximately 768 million people have no access to clean water. The number of dead due to HIV/AIDS is 11,700 while 61 million children having the age of primary education are not attending the schools. In every minute at least one women is being die due to pregnancy or labor complications. 29.8 million People are enslaved. (The World Bank Survey and One’s Campaign). Strategy of One day’s Wage is to get the donation of one day from the individuals at global levels to combat the poverty and provide the aid to the people.

Humn Resourse Mngement 'The World is Flt' Essay

Humn Resourse Mngement 'The World is Flt' - Essay Example Minford & Riley (2005) suggested that the supply side reforms of the 1990s and 2000s have transformed the way in which the UK labour market operates. The latest date retrieved from statistical analytical repot show that in the last year, the UK has experienced crashing share prices and other economic uncertainties brought on by the threat of war with Iraq. These economic adversities, however, have not been reflected in the overall performance of the UK labour market which shows that the employment rate has been rising and unemployment decreasing in the last year. In fact, for the three months ending in June 2005, the employment level was estimated to be 27.92 million, the highest level since records began in 1984 (Minford, Riley, 2005:12) . In view of above, extensive research is needed in the area of labour market in search for the ways of mazimizing its efficiency and productivity. One of the ways that has actually been least reviewed in the literature is outsourcing and its effects on the labour market. Three key questions re ddressed. First, wht is the extent of outsourcing nd re there differences between firms in the use of such prctices Second, why do firms outsource Finlly, wht is the impct of outsourcing mintennce work on firm performnce In mny cses the move to outsourcing is prt of wider drive for flexibility, so the rticle begins by reviewing the literture on lbour flexibility nd outsourcing. fter brief section deling with methodologicl issues, the rticle reports the extent nd rtionle for outsourcing mongst smple of ustrlin firms. These findings re then benchmrked ginst the prctices of Jpnese firms operting in ustrli. The pper concludes by ssessing the impct of outsourcing on enterprise performnce.I. Literture Review 2. Lbour flexibility nd outsourcing The theme running through mny of the new pproches to mngement is the development of more flexible workforce. The serch for improved flexibility hs becomes employers' new frontier in the mngement of lbour. Flexibility cn hve vriety of menings (Brunhes, 2000), but fundmentlly three forms of the concept cn be distinguished (Hrrison nd Kelley, 2004, pp. 213-214). Functionl flexibility is the bility of the enterprise to redeploy lbour to cover new work tsks or new production methods. The second form is wge flexibility, in which the enterprise ttempts to link wge pyments to productivity nd product demnd. Finlly, numericl flexibility is the bility to djust lbour inputs to product demnd. These forms of lbour flexibility hve been well documented in industrilized ntions (see Hrrison nd Kelley, 2004, p. 214). In UK, for exmple, the introduction of enterprise

General Background for business plan Thesis Example | Topics and Well Written Essays - 750 words

General Background for business plan - Thesis Example She considered the idea that construction litigation is in need of forensic experts in terms of mitigating claims for damages and other construction management services, and from there she founded CSI. The Owner & Management Team: Lily Iftner CSI is currently owned by Lily Iftner, a licensed civil engineer. She is also the brainchild of the business whose background includes a four-year experience in a construction site wherein she served as an insurance investigator. With motivation, she started her own business wherein she becomes one of the expert witnesses in terms of structure damages, and legal disputes in construction methods and materials. Because of the growing demand and changes in the industry, she needs to hire diverse construction professionals in order to deliver quality research, inspection, analysis, and report. The management team is composed of professionally licensed forensic engineers, particularly civil engineers with hands-on experience about scientific and prof essional structural issues. CSI Seattle Services CSI services are all about research, inspection, analysis, and report of construction and structural deficiencies in compliance with the standards and laws applicable. They serve in order to mitigate claims for damages in a quality and cost-effective way. ... CSI also presents sets of solutions so that clients can select the best possible solutions with corresponding evidences. They are also a â€Å"strong advocate of continuing education and community involvement, and maintain active participation in local construction industry organizations† particularly in Seattle (â€Å"Who We Are†). THE BUSINESS: Business Description According to Winkler and Chiumento â€Å"construction litigation can arise from any number of sources including delay claims, construction defects, professional liability allegations (errors and omissions), mechanics’ liens, personal injury, property damage, and insurance, subrogation, or professional bond claims† (179). Based on industry expert, construction litigation is growing and in demand considering that it now takes $5 billion USD in conflicts resolution and these costs are increasing 10% each year (Michel). This quantitative data is such an advantage for CSI considering that their cli ents would settle on larger amounts just for this dispute prevention and resolution. Definitely, the groundwork of this business is trust. The more the clients trust the business the better, for they will continue to seek the services the business offered. Value Proposition (s) Competition is always present in almost all business industries nowadays. And in order to survive, the business must develop value propositions which will create a strong gap between the company and the competitors. Value Proposition 1: CSI employed construction professionals who are highly equipped with experience and academic credentials - To have skillful employees suitable for the business, CSI developed specialized training and professional development which is

Various Hazards in the Various Industries Assignment

Various Hazards in the Various Industries - Assignment Example It is important to highlight that this paper or assignment delves into the discussion of the various hazards to the various industries. It is again worth noting that the paper presents what does not happen in real life but are rather hypothetical. In the paper, the following sectors of economic development have been selected for the presentation. The construction industry, manufacturing, transportation, and the mining industries were the chosen industries in question. The hazards range from environmental to human (Steve, 2004). In the construction industry, there are various hazards that the people who work there could possibly fall victims of. A good example is a case where the construction materials fall on the worker probably because there was an earthquake, collision from a machine or any other form of vibrating machine. These can cause some danger to the people and any other form of life in the surrounding (Steve, 2004). In the manufacturing industry, the hazards that can possibly be associated with the industry are the cases where the manufacturers at some point can decide to introduce a harmful substance into the products that they manufacture. These could be quite hazardous to the life of the consumers of the products affected by these kinds of acts (Steve, 2004). Another industry that can as well affected by the hazards is the transport industry. Under this, the hazards can arise when there are mechanical breakdowns in the various media of transport and even the poor modes of transportation in the areas. Poor weather conditions can also be potential causes of the hazards that are associated with the industry in hand (Steve, 2004). It is also important to note that the mining industry is the most affected. The miners underground can suffocate while they are underneath due to the insufficient air supply as well as the high temperatures.   The land above them similarly is quite dangerous to their lives as it can be triggered due to the isostatic adjustments and the magma movement in the mantle that is a result of the conventional current in the mantle too (Steve, 2004).