Sometimes, the fear of the unknown is more of a hindrance in achieving your end goal. Once you are past this fear and are well informed, it is just a matter of planning your path. Similar is the plight of students who want to study of online but face the fear of the unknown, such as : What is the best way to study online? Should you do an online programme? How to better manage time when learning online? And so on.
Through this continuing series of blog posts, some of our past and current students have shared their experiences, thoughts and opinions and given their feedback on handling some of these choices and situations. Hopefully, this will help you to make an informed decision.
This time we have a charismatic, authentic leader and scholar, alumni from University of Cumbria.
An Introduction
Which Uni are you studying with?
University of Cumbria
Which programme did you choose and why?
Master’s of Business Administration – because I believe in understanding enterprise end-to-end including its critical resources – which are – people. The only way to gain such understanding is by studying the general MBA.
The Study Plan
How did you plan to study each module, and what was the reality? For example, how many hours did/do you have to put in each day/or in a week?
The plan was to tackle each module soonest or even before we formally commence with it; it did not always happen that way due to other commitments such as work, family etc; I did on average utilised at least 3.5 to 4.5 hours daily for studying.
What part of the day did/do you find most suitable to study? (e.g. early mornings, lunch break, evenings, weekends?)
There was no preferred time for me; I would read as my brain demanded at any time of the day.
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How much time did you devote to each assignment?
I dedicated an average of 4.5 hours per day to deal with my studies.
Travelling and Communication
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How did travelling impact your ability to study?
Travelling did affect negatively because when you travel the concentration reduces, Therefore, at times I found myself behind my reading/studying schedule.
How were you able to interact with peers and/or professors given the time differences?
The platform we utilise plays a quintessential role because discussions remain on the forum for further peruse if one misses the class; this did eliminate the issues of time differences. On the other hand, my City’s time is in line with UK time so I did not have problem as such
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A typical day as a master’s studentWhat does a typical day as an Online Masters’ student look like for you?
It remains busy typically; I am naturally a busy person juggling amongst gym, work, family and martial arts, so studying only was just another exercise added to the many others I already had. Mind you however, that some people found it odd the way I live. But it is normal to me.
Any advice?Any advice you have for students to better plan their studies.
They need to be relentless, dedicated and create time for their studies. Time is always a scarce resource, insufficient for its demand hence one must really ensure that study time is created and preserved else, they would not make it.
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I hope this blog has answered some of your questions, and provided that motivational boost to your academic plans. You can also chat LIVE on WhatsApp with one of our Education Advisors for more information on all the programmes we offer and the application process.
Gold has fascinated humans for thousands of years, serving not only as a symbol of wealth and power but also as a reliable investment. In today’s financial markets, gold continues to play an essential role in diversifying portfolios and protecting against economic uncertainty. In 2024, it remains a popular investment option for both seasoned investors and newcomers to the financial markets. Whether you’re looking to diversify your portfolio or seeking a safe haven during economic uncertainty, gold offers unique benefits and some challenges. This guide will provide a comprehensive overview of investing in gold, exploring its pros and cons, and explaining why it continues to be a preferred choice in 2024.
Why Invest in Gold?
Gold is a unique asset, prized for its intrinsic value and long history as a store of wealth. Here are some of the key reasons why gold remains a popular investment in 2024:
Hedge Against Inflation: Gold is often seen as a hedge against inflation because it tends to hold its value as the purchasing power of fiat currencies declines. In times of high inflation, gold prices usually rise, making it a preferred choice for preserving wealth. With global inflationary pressures continuing, especially due to geopolitical tensions and supply chain disruptions, gold has been a favored asset for those looking to protect their portfolios.
Safe Haven During Economic Uncertainty: During periods of economic or political instability, gold is considered a “safe haven” asset. It is a tangible asset that retains value even when other investments, like stocks or bonds, may be volatile. In 2024, ongoing global uncertainties, including conflicts, pandemics, and market volatility, have driven many investors to gold as a safe harbor for their wealth.
Protection Against Currency Depreciation: Gold is not tied to any single currency, making it a valuable asset during times of currency depreciation or devaluation. As currencies weaken, the value of gold typically increases. With some currencies under pressure in 2024 due to economic policies and global events, gold has served as a reliable store of value.
Liquidity: Gold is highly liquid, meaning it can be easily bought or sold anywhere in the world. This makes it a flexible investment option that can quickly be converted into cash when needed. The ability to quickly liquidate gold holdings in response to market conditions has made it an attractive option in 2024’s fast-moving financial landscape.
Portfolio Diversification: Gold has a low correlation with other asset classes, such as stocks and bonds. This makes it an excellent tool for diversifying a portfolio, as it can reduce overall risk.2024 Perspective: With stock markets experiencing unpredictable swings, diversifying with gold has been a strategic move for many investors in 2024.
Photo Credit: Pexel.com
How to Invest in Gold
Investing in gold can be done in several ways, each with its own set of advantages and disadvantages:
Physical Gold
Forms: Gold bullion, coins, and jewelry.
Pros: Tangible asset, no counterparty risk, can be stored privately.
Cons: Requires secure storage, insurance costs, lower liquidity compared to paper gold.
Gold ETFs and Mutual Funds
Overview: These funds invest in gold and are traded on stock exchanges, making it easy to buy and sell gold without needing to store it physically.
Pros: High liquidity, ease of access, no need for physical storage.
Cons: Management fees, no physical ownership, dependent on financial markets.
Gold Mining Stocks
Overview: Investing in companies that mine gold can offer exposure to gold prices as well as the potential for growth if the companies perform well.
Pros: Potential for dividends, leveraged exposure to gold prices.
Cons: Company-specific risks, stock market volatility, management and operational risks.
Gold Futures and Options
Overview: These are contracts to buy or sell gold at a predetermined price in the future, allowing for speculative investments or hedging.
Pros: Potential for high returns, leverage.
Cons: High risk, requires significant market knowledge, potential for losses.
Digital Gold
Overview: Digital gold platforms allow investors to buy and sell gold electronically, backed by physical gold stored by the platform provider.
Pros: Convenience, fractional ownership, no need for physical storage.
Wealth Preservation: Gold has historically maintained its value over the long term.
Inflation Hedge: Gold typically appreciates when inflation is high.
Safe Haven: Provides stability during times of economic and political uncertainty.
Diversification: Helps reduce risk in an investment portfolio.
Liquidity: Easily bought and sold in markets worldwide.
Disadvantages
No Income Generation: Unlike stocks or bonds, gold does not generate income through dividends or interest.
Storage and Insurance Costs: Physical gold requires secure storage, which can be costly.
Market Volatility: While gold is considered stable, it can still experience significant price swings.
Capital Gains Tax: Profits from gold investments may be subject to capital gains tax, depending on your jurisdiction.
Counterparty Risk: Some forms of gold investment, such as ETFs or digital gold, involve trusting a third party.
Why Gold is Popular in 2024
In 2024, several factors have contributed to the sustained popularity of gold as an investment:
Photo credit: Pexel.com
Economic Uncertainty: Continued global economic challenges, including inflation and geopolitical tensions, have driven investors to seek safe-haven assets like gold.
Currency Volatility: Weakening currencies in some regions have led investors to gold as a stable store of value.
Technological Integration: The rise of digital gold platforms has made investing in gold more accessible to a broader audience.
Historical Performance: The long-term track record of gold in preserving wealth and hedging against inflation continues to attract both institutional and retail investors.
Gold remains a valuable component of any diversified investment strategy in 2024. Whether you’re looking for a hedge against inflation, a safe haven in uncertain times, or a way to diversify your portfolio, gold offers a range of benefits. However, it’s essential to consider the pros and cons and choose the right form of gold investment to suit your financial goals and risk tolerance. As with any investment, conducting thorough research and consulting with a financial advisor is recommended.
Sometimes, the fear of the unknown is more of a hindrance in achieving your end goal. Once you are past this fear and are well informed, it is just a matter of planning your path. Similar is the plight of students who want to study of online but face the fear of the unknown, such as : What is the best way to study online? Should you do an online programme? How to better manage time when learning online? And so on.
These are all questions that we at Robert Kennedy College (RKC) get regularly asked by students looking to join one of our online programmes. Undertaking to do an online master’s degree programme will be an additional commitment to your time and finances, and it is wise to get information beforehand.
Through this continuing series of blog posts, some of our past and current students have shared their experiences, thoughts and opinions and given their feedback on handling some of these choices and situations. Hopefully, this will help you to make an informed decision.
This time we have an alumnus from the University of Cumbria and Robert Kennedy College, MBA programme, June Hay.
An Introduction
Which Uni are you studying with?
University of Cumbria
Which programme did you choose and why?
Masters of Business Administration
The Study Plan
How did you plan to study each module, and what was the reality? For example, how many hours did/do you have to put in each day/or in a week?
Each Monday morning I would check the requirements for the modules I was registered into. I would then plan my week accordingly.
I put in about 20 hours a week for each module, plus some extra time when completing the assignments, mid-term or final. Each week I tried to respond on the discussion board by Wednesday and then would respond to others on the discussion in the latter part of the week.
Of course, sometimes life gets in the way, and I would have to put in more time one week, to make up for the time I missed due to other obligations.
What part of the day did/do you find most suitable to study? (e.g. early mornings, lunch break, evenings, weekends?)
I work best in the morning, so this is my preferred time when possible. To study in the evening I would often go to the local library for a quieter atmosphere that at home.
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How much time did you devote to each assignment?
Probably more than I should have! It depended on the amount of research that was needed for each assignment. On an average about 20 – 30 hours for mid-terms and 40 – 60 hours for finals, with the exception of the residency with the final assignment after returning – I’m guessing I spent closer to 120 hours on that final.
Travelling and Communication
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How did travelling impact your ability to study?
Difficult due to disparate bandwidth availability. Having said that, it was often an opportunity on the plane or between flights to study during quiet times.
How were you able to interact with peers and/or professors given the time differences?
The five hour time difference between Ontario Canada and Switzerland was a bit of a problem, especially trying to get assignments in on time. Just needed to be more conscious about that.
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A typical day as a master’s student
What does a typical day as an Online Masters’ student look like for you?
Because I work best in the morning, I would get my coffee and start by checking the discussion boards and making note of what I needed to give a response.
I mapped out my reading for the week, and so would spend my allotted time doing the reading and listening to webcasts. By Wednesday each week, I would put my contribution to the discussion board.
Any advice?
Any advice you have for students to better plan their studies.
Make a schedule early on to get the mid-term and final assignments completed.
Create files on your computer to keep your modules, assignments, and research organised so that when you are completing your assignments you can easily find your materials. I noticed that many students did not participate in the discussion boards, and I think they missed a valuable part of the learning. And potentially we missed out on their experience and perspective that they may have shared with the rest of the class.
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A to the point and practical advice by our alumni. I hope this blog has answered some of your questions, and provided that motivational boost to your academic plans. You can also chat LIVE on WhatsApp with one of our Education Advisors for more information on all the programmes we offer and the application process.
Embarking on the entrepreneurial journey is both exhilarating and daunting. It demands more than just a brilliant idea; it requires a set of specific skills that are essential for transforming that idea into a successful venture. Whether you’re a seasoned professional or a newbie contemplating your first startup, understanding and honing these skills can significantly impact your entrepreneurial success. Here are the top seven skills every entrepreneur should have:
1. Visionary Thinking
A successful entrepreneur doesn’t just see the world as it is; they envision what it could be. Visionary thinking involves the ability to anticipate future trends, recognize opportunities, and imagine innovative solutions. This skill helps you set long-term goals and navigate through the inevitable uncertainties of starting a business. Cultivating a strong sense of vision allows you to stay motivated and inspire others to join you on your journey.
How to Develop It: Regularly engage in strategic planning, study market trends, and immerse yourself in industry developments. Don’t be afraid to dream big and think outside the box.
The road to entrepreneurship is rarely smooth. Challenges, setbacks, and failures are part of the process. Resilience is the ability to bounce back from these difficulties, while adaptability refers to your capacity to adjust your strategies in response to changing circumstances. Together, these traits enable you to persevere through tough times and pivot when necessary.
How to Develop It: Build a strong support network, practice stress management techniques, and stay flexible in your approach. Embrace failure as a learning opportunity and remain open to change.
3. Financial Acumen
Understanding the financial aspects of your business is crucial. This includes budgeting, financial forecasting, managing cash flow, and interpreting financial statements. Financial acumen ensures that you make informed decisions, avoid common pitfalls, and maintain the financial health of your business.
How to Develop It: Educate yourself about financial principles, consider taking courses on accounting and finance, and seek advice from financial professionals. Hands-on experience with financial planning can also be invaluable.
An entrepreneur is often the leader of a team, and effective leadership is key to building a motivated, cohesive group. Strong leadership involves not only guiding and inspiring your team but also making strategic decisions and fostering a positive work environment. Team building skills are essential for recruiting talent, delegating tasks, and creating a collaborative culture.
How to Develop It: Work on communication skills, learn about different leadership styles, and invest time in team-building activities. Seek feedback from your team and be open to improving your leadership approach.
5. Marketing and Sales Skills
Marketing and sales are the lifelines of any business. You need to effectively promote your product or service, understand your target market, and develop strategies to reach and engage customers. This involves creating compelling messaging, utilizing digital marketing tools, and mastering sales techniques to convert leads into loyal customers.
How to Develop It: Stay updated on marketing trends, experiment with various marketing strategies, and analyze your results. Networking with industry experts and attending workshops can also enhance your marketing and sales skills.
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6. Problem-Solving and Critical Thinking
Entrepreneurs are faced with numerous problems that require innovative solutions. Problem-solving skills involve identifying issues, analyzing options, and implementing effective solutions. Critical thinking allows you to evaluate situations objectively and make decisions based on logic and evidence.
How to Develop It: Practice analyzing case studies, engage in strategic games or simulations, and approach problems with a structured methodology. Encourage feedback and learn from your problem-solving experiences.
7. Networking and Relationship Building
Building and maintaining relationships with customers, partners, investors, and other stakeholders is vital for business growth. Networking skills help you connect with influential individuals, gain valuable insights, and create opportunities for collaboration. Strong relationships can open doors to new resources and support systems.
How to Develop It: Attend industry events, join professional organizations, and actively engage in online communities related to your field. Focus on building genuine, mutually beneficial relationships rather than simply collecting contacts.
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Starting and running a successful venture requires a blend of various skills. While no one is born with all these skills, many can be developed through education, experience, and perseverance. Assess your strengths and areas for improvement, and seek resources or mentorship to bolster your capabilities. By cultivating these top seven entrepreneurship skills, you’ll be better equipped to navigate the entrepreneurial landscape and turn your vision into a thriving business.
Are you ready to assess your skills and take the leap? The entrepreneurial world awaits your unique contributions and innovative ideas.
Check out the various Master’s programme we offer including Entrepreneurship and Innovation to kickstart or rocket-fuel your career growth: list of online bachelor/master/PhD programmes.
You can also chat LIVE on WhatsApp with one of our Education Advisors for more information on the application process, and the discounts we might offer.
As a former Education advisor, if I had to pick one of the most frequently asked questions by prospective students, it would be “How many hours do I need to study?”
The vast majority (if not all) of our students are working and leading hectic professional lives. Some are motivated and have already decided to undertake a master’s, while others contemplate the unknowns of an online programme. In my experience, two things affect their decision the most.
First – finances, and second, being able to strike the perfect work, study, and life balance. While I cannot completely help you with the finances (partially yes – check out the discount offers currently being offered on our online MBA, MSc, and LL.M programmes), I thought what I could do to help was to bring some facts to light about the other unknowns – what does a typical day in the life of an online master’s student look like?
I asked a few of our students from different walks of life, occupations, and personal situations to answer a few questions on their study tactics and strategies, plans and reality, and so on. So, through our ‘#DILO ‘a typical day in the life of a master’s student’ blog series, we bring to you one of our actual students or alumni sharing the insights.
Today, we’re looking at Robert’s typical study days. Robert studied Master’s of Business Administration programme from University of Cumbria.
An Introduction
Which programme did you choose and why?
I chose an MBA programme in International Business in order to boost my wealth of knowledge for conducting business through a wider lens that could help me steer the company and any new initiatives to greater heights from an informed foundation.
The Study Plan
How did you plan to study each module, and what was the reality? How many hours did/do you have to put in each day/or in a week?
I usually read, research or write on an average 4-5 hours per night during the week and 6-8 hours on the weekend. I would begin my studies after returning from work, after dinner close to about 9 pm.
What part of the day did/do you find most suitable to study? (e.g. early mornings, lunch break, evenings, weekends?)
I found morning hours very apt especially if the assigned time implied adjusting your wake-up schedule and morning routine. Moreover, the weekends were more productive for me.
How much time did you devote for each assignment?
Depending on the assignments, I would spend minimum one day on an average for completing assignments.
Travelling and Communication
How were you able to interact with peers and/or professors given the time differences?
The forum is a great tool however, most professors are available through email which made communication very easy and effective.
A typical day as a master’s student
What does a typical day as an Online Masters’ student look like for you?
A typical dat would be like this: Wake early.. ready emails and forum posts, gather information for assignments if necessary. Once home from work begin reading, research or writing. Weekends are different as I have the whole day to manage my time. I generally aim to end my weekend studies by 4 pm
Any advice?
Any advice you have for students to better plan their studies.
Yes a few!
Ask many questions to ensure they have all information needed to help manage time.
Stay ahead of reading assignments.
Read all suggested and mandatory articles while monitoring external news sources to support learning objectives
Stay focused and positive— keep your end goals in kind at all times and know that the sacrifices will soon pay off
Alright friends, this was a sneak peek of a typical day in Robert’s life as a master’s student. I hope you find it insightful and informative and that it gives you an idea of what to expect when you enrol for our master’s programmes. Watch this space as we have many more interesting insights coming up!
In the digital age, OTT platforms, or over-the-top, have completely changed the way we consume content. These platforms use the internet to distribute video content instead of more conventional means like cable or satellite television. As smart gadgets and high-speed internet become more commonplace, OTT platforms have not only become immensely popular but also completely changed the way that digital video streaming is done.
OTT platforms have effectively modified their tactics to accommodate the varied inclinations and actions of distinct age groups, capitalizing on their adaptability and prioritization of digital content. OTT platforms are serving different age groups in the following ways:
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Millennials (Born 1981-1996)
Millennials are digital natives who value convenience, variety, and personalized experiences. OTT platforms have captured this demographic by:
On-Demand Content: Millennials appreciate the ability to watch content on their own schedule, rather than being tied to traditional TV schedules.
Original Content: Platforms like Netflix and Hulu invest heavily in producing original series and movies that resonate with millennial interests, including diverse genres and culturally relevant narratives.
Mobile Accessibility: Recognizing millennials’ reliance on smartphones, OTT platforms offer apps that provide seamless streaming experiences across devices, enabling viewing on the go.
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Social Sharing: Integration with social media platforms allows millennials to easily share their favorite shows and movies, fostering a sense of community and engagement.
Generation Z (Born 1997-2012)
Generation Z grew up in a digital era, preferring bite-sized content, interactivity, and socially conscious media. OTT platforms appeal to Gen Z by:
Short-form Content: Platforms like TikTok and Quibi cater to Gen Z’s shorter attention spans with quick, engaging videos and series that can be consumed in short bursts.
User-Generated Content: OTT platforms encourage user-generated content and interactive features, allowing Gen Z to participate in content creation and influence trends.
Diverse Representation: Gen Z values diversity and inclusivity in media. OTT platforms curate content that reflects diverse cultures, identities, and perspectives, resonating with this generation’s values.
Educational Content: Platforms such as YouTube and Disney+ provide educational content that combines entertainment with learning, appealing to Gen Z’s desire for knowledge and skill development.
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Baby Boomers and Generation X (Born 1946-1964 and 1965-1980, respectively)
Baby Boomers and Generation X appreciate quality content, nostalgia, and ease of use. OTT platforms cater to these demographics by:
Classic and Nostalgic Content: Offering a wide range of classic movies, TV shows, and documentaries that appeal to older generations’ nostalgic preferences.
User-Friendly Interfaces: Intuitive interfaces and easy navigation make it simple for older users to discover and enjoy content without technical barriers.
Accessibility Options: Providing options for subtitles, audio descriptions, and larger text sizes enhances accessibility for older viewers with varying needs.
Family Viewing: Platforms like Disney+ and Amazon Prime Video offer family-friendly content, appealing to older generations looking to share quality viewing experiences with their families.
The capacity of OTT platforms to serve a variety of generations highlights their flexibility and responsiveness to changing customer demands. Personalized recommendations, a wide variety of content libraries, and intuitive user interfaces are just a few of the features that OTT platforms utilize to draw and keep viewers of all ages. OTT platforms are positioned to stay crucial to the entertainment landscape as streaming technology develops and consumer behaviors change. They will bridge generational gaps and offer engaging content experiences catered to the specific interests and expectations of each cohort.
Here’s a detailed exploration of how OTT platforms are transforming the digital video streaming space and the top five factors contributing to their influence.
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1. Accessibility and Convenience
OTT platforms offer unparalleled accessibility and convenience to users worldwide. Unlike traditional TV services that require scheduled programming, OTT platforms provide on-demand content. Users can watch movies, TV shows, documentaries, and even live events at their convenience, across multiple devices such as smartphones, tablets, smart TVs, and laptops. This flexibility has empowered consumers, enabling them to tailor their viewing experience according to their preferences and schedules.
2. Content Diversity and Original Productions
One of the key factors driving the success of OTT platforms is their diverse and often exclusive content libraries. These platforms not only license popular movies and TV series but also invest heavily in producing original content. Original productions, ranging from critically acclaimed series to blockbuster movies, have garnered significant attention and accolades. This strategy not only attracts subscribers but also differentiates OTT platforms in a crowded market.
3. Global Reach and Personalization
OTT platforms operate on a global scale, transcending geographical boundaries. This global reach allows content creators to distribute their work to a broader audience, facilitating cultural exchange and diversity in content consumption. Moreover, OTT platforms leverage advanced algorithms and user data to personalize recommendations. By analyzing viewing habits and preferences, these platforms curate content suggestions that align with individual tastes, thereby enhancing user satisfaction and engagement.
4. Technological Innovation and User Experience
Technological innovation plays a pivotal role in the success of OTT platforms. These platforms continually invest in enhancing streaming quality, optimizing bandwidth usage, and supporting high-definition (HD) and ultra-high-definition (UHD) content. Furthermore, advancements in streaming protocols and adaptive bitrate technologies ensure smooth playback across varying internet speeds and devices. Additionally, interactive features, such as offline viewing, multi-device synchronization, and integrated social sharing, further enrich the user experience.
5. Disruption of Traditional Media and Business Models
OTT platforms have disrupted traditional media and business models, challenging established norms and practices. By offering subscription-based and ad-supported models, OTT platforms provide flexibility to consumers and advertisers alike. This shift has compelled traditional broadcasters and content creators to adapt to changing consumer preferences and adopt digital-first strategies. Moreover, the direct-to-consumer approach adopted by OTT platforms has bypassed intermediaries, enabling creators to retain greater control over their content and monetization strategies.
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In conclusion, OTT platforms have redefined the digital video streaming space through accessibility, diverse content offerings, global reach, technological innovation, and disruptive business models. These platforms continue to evolve, driven by consumer demand for personalized, high-quality entertainment experiences. As the streaming landscape evolves, OTT platforms are poised to shape the future of digital entertainment, catering to an increasingly connected and discerning audience.
Whether you’re binge-watching your favorite series or discovering new content, OTT platforms have undoubtedly transformed how we consume and interact with digital video streaming, making entertainment more accessible, engaging, and personalized than ever before.
You can also chat LIVE on WhatsApp with one of our Education Advisors for more information on the application process, and the discounts we might offer.
In today’s interconnected world, international business is not only influenced by market forces and economic conditions but also by the ever-changing landscape of global politics. Governments play a pivotal role in shaping policies that directly impact businesses operating across borders. The dynamics of political alliances, treaties, sanctions, and trade agreements can either facilitate smooth operations or introduce significant challenges for multinational corporations.
1. Political Stability and Economic Policy
Political stability is a cornerstone for economic growth and investment. Stable governments typically foster favorable business environments characterized by predictable regulatory frameworks, consistent policies, and reliable institutions. These factors attract foreign direct investment (FDI) and encourage businesses to expand operations within a country.
Conversely, political instability, coups, civil unrest, or regime changes can disrupt business operations significantly. MNCs often face heightened risks such as asset seizure, contract renegotiations, or even nationalization in politically unstable regions. The uncertainty generated by such events can deter investment and force businesses to reassess their strategies or withdraw from affected markets.
2. Trade Policies and Tariffs
Governments wield significant influence through trade policies and tariffs, which directly impact the cost competitiveness of goods and services in international markets. Trade agreements, such as free trade agreements (FTAs) or customs unions, aim to reduce tariffs and trade barriers, facilitating smoother trade flows and market access for businesses.
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However, shifts in political alliances or the imposition of tariffs and trade restrictions can disrupt established supply chains and increase costs for MNCs. For instance, trade tensions between major economies like the United States and China have led to tariff escalations, affecting industries reliant on global supply chains and influencing investment decisions.
3. Geopolitical Risks and Security Concerns
Geopolitical factors, including international conflicts, terrorism, and regional tensions, pose significant risks for businesses operating across borders. These risks manifest in various forms, from physical threats to infrastructure and personnel, to regulatory changes aimed at enhancing national security.
For example, sanctions imposed by one country against another can limit trade and financial transactions, impacting businesses with operations or interests in the targeted region. MNCs must navigate these risks by conducting thorough risk assessments, implementing robust security measures, and diversifying their operations to mitigate potential disruptions.
4. Influence of Political Alliances and Regional Integration
Political alliances and regional integration efforts, such as the European Union (EU) or ASEAN (Association of Southeast Asian Nations), create integrated markets with standardized regulations and reduced trade barriers. These agreements offer businesses economies of scale, access to larger consumer markets, and streamlined regulatory processes.
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However, the stability and coherence of such alliances can be fragile, subject to shifts in member countries’ political priorities or external pressures. The Brexit referendum and subsequent negotiations underscored the complexities and uncertainties surrounding regional integration, impacting businesses across Europe and beyond.
Strategies for Businesses
In response to the dynamic interplay of politics and international business, companies adopt several strategies to manage risks and capitalize on opportunities:
Political Risk Assessment: Regular assessment of political risks in target markets informs strategic decision-making and risk mitigation efforts.
Diversification: Diversifying markets, suppliers, and investment portfolios reduces dependency on any single market or region prone to political instability.
Government Relations: Engaging with government officials, policymakers, and industry associations enables businesses to advocate for favorable policies and influence regulatory outcomes.
Adaptability and Resilience: Building flexibility into supply chains, operations, and strategic planning allows businesses to respond swiftly to political developments and mitigate disruptions effectively.
Here are some examples to illustrate how changing governments and political alliances have impacted international business:
US-China Trade Relations: The trade war initiated by the Trump administration against China significantly affected global supply chains and business strategies. Tariffs were imposed on billions of dollars worth of goods, prompting companies to reconsider manufacturing locations and supply chain logistics to mitigate increased costs. The phase one trade deal signed under the Biden administration brought some relief but tensions continue to shape global trade dynamics.
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Brexit and Its Impact on EU-UK Trade: The United Kingdom’s decision to leave the European Union (EU) through Brexit introduced complexities for businesses operating across the UK and EU. Industries heavily reliant on frictionless trade faced disruptions due to new customs checks and regulatory requirements. Companies had to navigate new trade rules, tariffs, and supply chain adjustments, impacting sectors from automotive to financial services.
Russia-Ukraine Conflict and Sanctions: Geopolitical tensions between Russia and Ukraine have led to sanctions imposed by Western countries, targeting Russian individuals, businesses, and sectors such as finance, defense, and energy. These sanctions restrict trade and investment activities, affecting multinational corporations with operations or interests in Russia and Ukraine, and prompting them to reassess their risk exposure and operational strategies.
Impact of COVID-19 Pandemic: The global pandemic underscored the vulnerability of supply chains to disruptions. Governments implemented various measures, from travel restrictions to export controls on medical supplies, affecting international trade and business operations. Companies had to quickly adapt by diversifying suppliers, revising logistics strategies, and navigating fluctuating demand patterns amidst evolving government responses.
Trade Agreements and Regional Integration: The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP) are examples of recent trade agreements that aim to enhance economic cooperation among member countries. These agreements create opportunities for businesses to access new markets with reduced trade barriers, fostering economic integration in the Asia-Pacific region.
Navigating the intersection of politics and international business requires agility, foresight, and a deep understanding of global dynamics. Businesses that proactively manage political risks, leverage opportunities presented by regional integration, and maintain robust government relations are better positioned to thrive in an increasingly complex global economy. By staying informed, adaptable, and strategically proactive, MNCs can navigate the challenges posed by changing governments, political alliances, and geopolitical uncertainties while capitalizing on new opportunities for growth and expansion.
Choosing a specialization for your Master’s degree is a significant decision that can shape your future career and personal development. However, with numerous options available, this choice can often feel overwhelming. If you find yourself stuck in this dilemma, here are five practical ways to help you make an informed decision:
1. Self-Assessment: Understanding Your Interests and Strengths
Before diving into specific specializations, take the time to reflect on your interests and strengths. This self-assessment can provide valuable insights into which areas might be the best fit for you.
List subjects or activities that genuinely excite you. Photo Credit: Canva.com
Interest Inventory: List subjects or activities that genuinely excite you. Consider what topics you enjoy reading about, discussing, or engaging with in your free time.
Strengths Analysis: Identify your core strengths. Are you more analytical or creative? Do you excel in research or hands-on projects? Understanding your natural talents can guide you towards a specialization that aligns with your abilities.
Values Clarification: Reflect on your personal values and what you want from your career. Do you prioritize job stability, innovation, social impact, or high earning potential?
2. Research: Exploring Potential Specializations
Once you have a clearer understanding of your interests and strengths, the next step is to research potential specializations. This research will provide you with a better idea of what each specialization entails and how it aligns with your goals.
Reach out to alumni or read their success stories.
Program Descriptions: Look at the curriculum and course descriptions of different specializations. Pay attention to the subjects covered, the skills you will develop, and the type of projects you might work on.
Career Outcomes: Investigate the career paths associated with each specialization. Look at job titles, industries, and potential employers. Consider the demand for professionals in that field and the long-term career prospects.
Alumni Success Stories: Reach out to alumni or read about their experiences. Their career trajectories can offer insights into the real-world applications of the specialization.
3. Networking: Connecting with Professionals and Peers
Networking is an invaluable tool when trying to make a decision about your Master’s specialization. Talking to professionals and peers can provide first-hand information and advice.
Participate in industry events, seminars and conferences. Photo credit: Canva.com
Informational Interviews: Schedule interviews with professionals working in fields you are interested in. Ask them about their educational background, how they chose their specialization, and what their day-to-day work entails.
Attend Industry Events: Participate in conferences, seminars, and workshops related to potential specializations. These events can offer a wealth of information and networking opportunities.
Join Online Communities: Engage with online forums and social media groups related to your areas of interest. These communities can provide support, advice, and insider knowledge.
Sometimes, the best way to understand whether a specialization is right for you is to gain practical experience in that field.
Internships and Part-Time Jobs: Seek internships or part-time positions related to your potential specializations. These experiences can give you a taste of the work environment and help you assess your fit.
Volunteering: Volunteering for projects or organizations in your areas of interest can provide similar insights and also enhance your resume.
Shadowing Professionals: Arrange to shadow professionals in your desired fields. This can give you a realistic view of what a career in that specialization looks like.
Volunteer in area of your interest. Photo credit: Canva.com
5. Academic Guidance: Consulting with Advisors and Faculty
Leverage the knowledge and experience of academic advisors and faculty members. Their insights can be crucial in helping you make an informed decision.
Leverage the knowledge and experience of academic advisors and faculty members. Their insights can be crucial in helping you make an informed decision. Photo Credit: Canva.com
Advisors: Schedule meetings with academic advisors to discuss your interests and goals. They can provide guidance on which specializations align with your aspirations and help you understand the requirements and opportunities within each program.
Faculty: Talk to faculty members who teach in potential specializations. They can offer detailed information about the curriculum, research opportunities, and career prospects.
Workshops and Seminars: Attend workshops and seminars hosted by your institution. These events often cover different specializations and can help clarify your options.
Choosing a specialization for your Master’s degree is a pivotal decision that requires careful consideration and planning. By conducting a thorough self-assessment, researching your options, networking with professionals, gaining practical experience, and seeking academic guidance, you can overcome the dilemma and make an informed choice that aligns with your personal and professional goals. Remember, the journey to finding the right specialization is a process, and it’s okay to take your time to ensure you make the best decision for your future.
The world is witnessing a remarkable transformation in the automotive industry with the rapid rise of electric vehicles (EVs). This shift, driven by technological advancements, policy changes, and increasing environmental awareness, is poised to significantly impact global transportation and the environment. Electric vehicles (EVs) are no longer just a futuristic concept; they have become an integral part of our present and a crucial component of our future. As the world grapples with the challenges of climate change, pollution, and energy sustainability, EVs offer a promising solution.
The Emergence of Electric Vehicles
Technological Advancements
The past decade has witnessed significant advancements in battery technology, making EVs more affordable and efficient. Innovations in lithium-ion batteries have increased energy density, reduced costs, and extended vehicle ranges, addressing one of the major concerns of potential EV buyers—range anxiety.
Government Policies and Incentives
Governments worldwide have played a pivotal role in promoting EV adoption through various policies and incentives. Subsidies, tax rebates, and grants have made EVs more financially accessible to the average consumer. Additionally, stringent emission regulations and bans on future sales of internal combustion engine vehicles in several countries have accelerated the shift towards electric mobility.
Corporate Commitments
Major automotive manufacturers have committed to an electric future. Companies like Tesla, Nissan, and Chevrolet have led the way, while traditional automakers like Ford, General Motors, and Volkswagen are investing billions into developing new EV models and building extensive charging networks.
The Surge in Electric Vehicle Adoption
In recent years, electric vehicles have moved from the fringes to the mainstream. As of 2023, there are over 26 million EVs on the road worldwide, a number projected to reach 145 million by 2030 if current trends continue . The surge is particularly notable in countries like China, the United States, and several European nations.
China: Leading the charge, China accounts for nearly 45% of global EV sales. In 2022 alone, China sold 6.8 million EVs, a 78% increase from the previous year .
Europe: Europe follows closely, with EVs making up about 20% of new car sales in 2023. Norway is a standout, where over 80% of new car sales are electric .
United States: The U.S. is also ramping up its efforts, with EV sales reaching nearly 1 million units in 2023, doubling from 2021 .
Social Impacts
Environmental Benefits
One of the most significant social benefits of EVs is their positive impact on the environment. EVs produce zero tailpipe emissions, reducing air pollution and contributing to cleaner cities. This improvement in air quality can lead to better public health outcomes, reducing respiratory and cardiovascular diseases linked to pollution.
Urban Transformation
The adoption of EVs is transforming urban landscapes. Cities are installing EV charging stations, redesigning parking infrastructures, and planning for integrated electric public transport systems. These changes promote a cleaner, more sustainable urban environment, benefiting all residents.
Energy Independence
EVs have the potential to reduce reliance on fossil fuels, thereby enhancing energy security. By leveraging renewable energy sources like solar and wind to charge EVs, countries can decrease their dependence on imported oil, fostering greater economic stability and security.
Economic Impacts
Job Creation
The EV industry is a significant driver of job creation. From manufacturing to maintenance and charging infrastructure development, EVs generate employment across various sectors. The shift towards EVs has spurred innovation and entrepreneurship, leading to the growth of new businesses and services.
Economic Growth
The EV market is expanding rapidly, contributing to economic growth. The global EV market size was valued at over $160 billion in 2020 and is expected to grow exponentially in the coming years. This growth translates into increased revenues for companies, higher tax revenues for governments, and a positive ripple effect on related industries.
Cost Savings for Consumers
While the initial purchase price of EVs can be higher than that of traditional vehicles, the total cost of ownership is often lower. EVs have fewer moving parts, resulting in lower maintenance costs. Additionally, the cost of electricity as a fuel is generally lower than gasoline or diesel, leading to significant savings over the vehicle’s lifespan.
Environmental Benefits of Electric Vehicles
The environmental impact of electric vehicles is a key driver behind their adoption. Here are some of the significant benefits:
Reduction in Greenhouse Gas Emissions: EVs produce zero tailpipe emissions, which directly contributes to lower greenhouse gas emissions. According to the International Energy Agency (IEA), the increased adoption of EVs in 2022 resulted in a reduction of 60 million metric tons of CO2 emissions, equivalent to the total annual emissions of Greece .
Air Quality Improvement: Cities with high EV adoption rates are witnessing improved air quality. For instance, studies have shown that air pollutants like nitrogen oxides (NOx) and particulate matter (PM) have decreased in urban areas with significant EV usage .
Energy Efficiency: EVs are generally more energy-efficient than internal combustion engine (ICE) vehicles. They convert over 77% of the electrical energy from the grid to power at the wheels, compared to only 12-30% for ICE vehicles .
Challenges and the Road ahead
While the rise of EVs brings substantial environmental benefits, several challenges need addressing to maximize their positive impact.
Battery Production and Recycling: The production of lithium-ion batteries, a key component of EVs, has environmental downsides, including mining impacts and energy-intensive manufacturing processes. Effective recycling programs and advancements in battery technology are crucial to mitigating these issues .
Renewable Energy Integration: To fully leverage the environmental benefits of EVs, it is essential to power them with renewable energy sources. Currently, the carbon footprint of an EV can vary significantly depending on the energy mix of the region .
Infrastructure Development: Expanding charging infrastructure is critical to support the growing number of EVs. Governments and private entities are investing heavily in this area, with the number of public charging points expected to reach 10 million by 2030 .
The global rise of electric vehicles represents a significant step toward a more sustainable and environmentally friendly transportation sector. While challenges remain, the ongoing advancements in technology, policy support, and societal commitment to reducing carbon emissions and improving air quality provide a promising outlook. The future of transportation is electric, and its positive impact on the environment is undeniable.
As we accelerate towards this electric future, it is crucial to continue addressing the challenges to ensure that the environmental benefits are fully realized and sustained for generations to come.
Check out our list of online programmes and see if we have anything that interests you on specializations like energy sustainability, project management, or business administration.
You can also chat LIVE on WhatsApp with one of our Education Advisors for more information on all the programmes we offer, the application process, and the discounts we might offer.
Through the #DILO series of blog posts we have been bringing you insights into the life of our master’s students, sharing their thoughts and opinions, ups and downs, and key learning points during their online studies. The whole idea behind this series is to make you aware of realities of online studies, and help you in decision making.
This week we take a look at a day in the life of our MBA student from University of Cumbria. Here is an insight and some words of wisdom from their own experience.
An Introduction
Which Uni are you studying with?
University of Cumbria.
Which programme did you choose and why?
Masters of Business Administration. I wanted the fluidity of the degree to be able to strategically move upward within organizations.
The Study Plan
How did you plan to study each module, and what was the reality? How many hours did/do you have to put in each day/or in a week?
Prepare a study plan and pick a time of the day that works best for you
I followed the recommended guideline. I had some classmates who did the mandatory modules first, then took the modules that were aligned with their profession, but that would have prolonged the completion of the program.
I followed a mandatory two hours daily schedule, sometimes, three to four hours depending on the subject.
I would suggest however, to read through the course requirement at the beginning of the course to get an understanding of the requirement.
Begin early to draft the final assessment for the module and make revisions as the material becomes clearer.
What part of the day did/do you find most suitable to study? (e.g. early mornings, lunch break, evenings, weekends?)
Allow yourself enough time for each assignment
Morning hours and weekends were more practicable for me.
How much time did you devote for each assignment?
It depends on the subject. Some familiar subjects were easier and more interesting and those that were challenging got extra attention. Roughly 3-4 days per assignment, inclusive of research, rough draft and final submission.
Travelling and Communication
How did travelling impact your ability to study?
Initially, travelling impacted study times. It required major adjustment to after work schedule and infringement on family time. It really came down to prioritizing what was important at that particular time.
How were you able to interact with peers and/or professors given the time differences?
The interaction with the different time zones was a bit of negative factor for me. One had to keep in mind the time differences and make the adjustments.
A typical day as a master’s student
What does a typical day as an Online Masters’ student look like for you?
Getting up a little earlier to put in extra time, when it is quiet in the morning. Listening to podcast on related materials during breaks and the long drive home.
Any advice?
Take advantage of every opportunity.
Make a structured daily schedule that includes two hours of daily studies. Break it up if necessary.
Most importantly during overwhelming and difficult periods… take a break.. take a deep breath… and start again.
Have a core group of people in the program that you can interact with, share and exchange information.
Well indeed, incredibly helpful advice. To get you through the master’s studies we have a great faculty who are subject-matter experts, guide and encourage the students to achieve their potential.
If you have been dreaming of joining a master’s programme or have had this personal goal to gain a higher education, now is the time! Take the valuable advice from our current students, gain from their experience, add your own unique study strategies, and make your own success stories! I would love to feature you one day on our college blog.
Chat LIVE on WhatsApp with one of our Education Advisors for more information on all the programmes we offer, application process, and for information on discounts we might be offering at this time.
Photo credit: Unsplash.com
