Pacific Rim Telecom Business Plan Essay Example

I & D services (installation and dismantle) and drayage (moving exhibit structures and equipment from the loading dock onto the show floor); etc. Sydney provided all these requirements. Factors that also affected our decision were international currency exchange and banking and translation services for visitors. Because Sydney had a thriving exhibition industry, everything we needed was readily available.

We took into consideration all our requirements as show management, needs of our exhibiting customers and needs and requirements of our attending audience Industry Environment Overview of the Trade Show Industry produces over $124 billion in revenues each year. In 2004, direct spending on exhibitions accounted for $122. 31 billion. In addition, the economic impact was $250. 1 billion. To underscore its importance, its total employment impact equaled 1,710,000 FTE (full-time equivalent) jobs.

During the 1960s trade, shows were regarded as obligatory promotional events because competitors were doing them.Some practitioners supported the shows out of a desire to promote an industry trade association. Participation involved no promotional strategy and few objectives. In fact, companies tended to reward selected personnel by sending them to a show in an interesting city and allowing them to enjoy the nightlife. Training on how to ‘work’ a show was rare. When the economy soured in the 1970s, trade show attendance plummeted.

Conversely, in the same period, the quality of the attendee audience soared with more decision-makers going to events. With experience, practitioners have recognized the true potential of the trade show vehicle.The most professional companies have expanded their view to include specific measurable sales goals in addition to promotional objectives. Events also provide face-to-face opportunities to hear the voice of the customer. As a result,

trade shows have developed into a more expansive activity: exhibit marketing. Exhibit marketing is neglected in current pedagogy and marketing textbooks so most internal exhibit managers either learn on the job or through trade associations.

Every year for the past twenty years, the percentage of marketing budgets devoted to trade events has increased. Currently, it is the largest budget line item after direct sales. With target audiences bombarded by an estimated 3000 advertising messages each day, the ability to break through the noise and clutter to reach decision-makers becomes even more significant. Trade events provide a medium that puts businesses in front of these decision-makers and that translates into direct sales. Trade events are no longer merely a facet of sales promotion. They are now multidimensional sales opportunities and involve direct sales, marketing research, new product introduction, and evaluation activities as well.

These measurable and attainable tools reduce the cost per contact of industrial sales calls by as much as 70%. Why trade shows? Exhibitors pay for the spaces they occupy; transportation to and from the exhibit venue; installation and dismantling of their exhibit structures, including moving freight from the loading dock onto the show floor; ancillary services such as electricity, carpet, furniture and other decoration; advertising connected with the event; show floor food and beverage services; attendee portfolios/tote bags, badge holders and other promotional products, etc.Attendee registration fees cover costs related to hall or convention center rental; marketing, promotion, registration; and speaker fees. Because of this benefit, trade association show producers generate as much as 50% of their operating budget from their trade events.

Trade shows are a major revenue generator, covering salaries and other operating expenses.

The balance of the budget is derived from membership fees and internal product sales such as books, tapes, magazine subscriptions and advertising.Trade shows are a cost-effective method of bringing exhibitors and attendees together under one roof. Horizontal versus Vertical Events In business-to-business trade shows, there are two models: vertical, or niche marketing, and horizontal or broad-based events. A vertical show has vendors displaying products and services aimed at a well-defined niche market, for example, computer products specifically for engineering design and construction. A horizontal show displays a wide range of products and services that are loosely related; for example, a computer show.

Comparing the American and Australian Political Systems Like Australia, the United States has a system of government that enshrines the idea of indirect democracy. Like Australia, the American system is based on principles of political equality, majority rule and the preservation of minority rights. The United States is the oldest continuing democracy in the world today and one of the first to embrace the idea of popular sovereignty. However, it is relatively unique in the world with its emphasis on ideas of personal liberty. Similarities Both are Federal systems (Federal and State governments). ?Both have a parliament (called a congress in the US) composed of two houses—a House of Representatives and a Senate.

?Both have a House that is popularly elected with electorate size determined by voting population. ?Both have a Senate that represents the States equally—2 senators per state in the US, 12 per state in Australia. Senators in both countries serve 6 year terms. ?All legislation must be passed by both houses of parliament. ?Both have constitutions which delineate the powers of the

Federal Government. Both have an independent judiciary (Supreme Court in US, High Court in Australia) which interprets the constitution and acts as a final court of appeals.

Differences ?The US is a republic, whereas Australia is a constitutional monarchy. ?In Australia, the government (ministry, cabinet, executive) is drawn from the parliament and responsible to it, whereas in the US the Executive branch of government is independent of the congress and no person may be a member of congress and a minister simultaneously. The Australian Prime Minister is chosen by the elected members of the party/parties that have won a majority of seats in the House of Representatives, whereas the US President is directly elected by the people and must appoint non-members of the congress to fill ministerial posts. ?Members of the Australian House of Representatives serve a 3 year term whereas US members of the House serve 2 years. ?Elections in the US are on set days for fixed terms, whereas an Australian Prime Minister may dissolve Parliament and call an early election.

?Electoral enrolment and voting is compulsory in Australia, but voluntary in the US. Party discipline is not as tight in the US as it is in Australia, leading to a situation where members of both parties will often form changing voting alliances on legislation. ?Legislation in the US requires both legislative approval and the president's signature, whereas in Australia legislation is automatically ratified by the Governor-General once passed by both houses. Because of Australia’s similarities to the US, it is a comfortable environment in which to hold our event.

Culture Culture can be defined as “The integrated sum total of learned behavioral traits that are

manifest and shared by members of society.Terpstran9 “(1987) Australia is a good location for organizing a global event like a trade show because of its location, economic condition and the rich diverse culture. The Australian island is equidistant from eastern and the western countries and make it easily accessible. Australian culture is as broad and varied as the country's landscape.

Australia is multicultural and multiracial and this is reflected in the country's food, lifestyle and cultural practices and experience. Australia has an important heritage from its indigenous people, which plays a defining role in the cultural landscape.This diversity of influences creates a cultural environment in Australia that is lively, energized, innovative, and outward looking. Australia's biggest attraction is its natural beauty. The landscape varies from endless sun-baked horizons to dense tropical rainforest to chilly southern beaches.

Scattered along the coasts, its cities blend a European enthusiasm for art and food with a laid-back love of sport and the outdoors. The demographics of Australia show it to be one of the most urbanized populations in the world which makes it one of the prefered location for olding International events. Australia's cities are filled with different cultures. The Different cultures that can be found in Australia are English and non English-speaking migrants from England, Scotland, Ireland, Italy, Greece, Germany, Former Yugoslavia, Bulgaria, the Netherlands, Malta, Eastern Europe, the Middle East, East Asia and South-East Asia has had a significant impact.

Few immigrants have come from the African and American continents. A Competitive Economy “Australia has one of the strongest economies in the world—competitive, open, vibrant and flexible.The International Monetary Fund (IMF) has commended Australia on the sound macroeconomic management and

continuing structural reform efforts that have underpinned its sustained strong economic performance. During the last 15 years, Australia’s standard of living has risen substantially.

3 million people.During the past decade, small businesses have created an estimated 660 000 new jobs. They are also important contributors to exports—some 42 per cent of all goods exporters are small businesses. Advanced Economic Structure Australia has a sound, stable and modern institutional structure that provides certainty to businesses and offers a welcoming destination for investment. There is a strong, transparent corporate governance system along with business-oriented corporate regulation and insolvency regimes. Australia also has low barriers to trade and investment.

Competition is substantial across the economy, including in key areas such as transport, telecommunications, electricity and gas. Australia has been ranked by the World Bank as the second easiest economy in which to start up a business (a new business can be established in two days compared with an OECD average of 20 days) and the third easiest economy for getting credit for businesses. The goods and services tax (GST), Australia’s value-added tax, is levied at 10 per cent and applies to almost all goods and services. There is no stamp duty on share transactions, and the corporate tax rate is 30 per cent.Australia’s infrastructure is extensive and world-class, providing individuals and businesses with reliable domestic and international transport corridors, communications and information technology, utilities, power distribution systems and financial services.

Australia is home to citizens from some 200 countries, making it the most multilingual workforce in the Asia–Pacific region. More than 4 million Australians speak a second language. There are many international business opportunities in Australia thanks to low tariffs and

minimal barriers to entry. Australia’s export base is strong and diverse.

Knowledge-Based IndustriesDriven by the pace of technological and social change, innovation is boosting productivity and enabling rapid development and use of information and knowledge in all industries. Australia has a strong knowledge-based economy. Australia’s international competitiveness relies increasingly on skills, knowledge, innovation and enterprise as well as domestic and global information networks. Australia’s open economy provides an excellent climate for enterprise and innovation. Information and communications technology (ICT) is a key driver of economic growth, and Australian businesses are heavy users of ICT.

Australia’s ICT market is worth around $89 billion. There are almost 25 000 specialist ICT companies employing around 236 000 people, including engineers, software developers, security experts and optics researchers. Financial Markets Australia is a major regional financial centre, with a sophisticated financial system and transparent markets offering a wide range of innovative products (including equities, bonds and options); world-class telecommunications; a multilingual and highly skilled workforce; and a sound system of regulation. The Australian Stock Exchange and the Sydney Futures Exchange merged in July 2006 to create the world’s 8th largest listed exchange.

More than 2000 entities, with a total market capitalisation of $1. 4 trillion, were listed on the Australian Stock Exchange in 2006 and an average of 148 000 equities and 400 000 futures and options contracts were traded daily. Australia’s trading day spans the close of business in the United States and the opening in Europe. Australia has one of the highest percentages of shareholders in the world. More than 50 per cent of the adult population own shares in publicly listed companies.

Australia’s pool of investment fund assets under management

was the 4th largest in the world in 2006, valued at around US$777 billion. More than 380 000 people are employed in Australia’s finance and insurance sectors. Financial services is one of the fastest-growing sectors of the Australian economy, with an annual average growth rate of over 5 per cent since the mid-1980s. ”  Managing Income From The Event As we will receive money in a lot of different currencies and from a vast number of different countries, managing income is critical.One of the reasons we selected Australia is that we have access to international currency exchanges and can take revenues generated in Australia, such as on-site registrations and deposits for future events, back to our home base in the US. We will also comply with the Financial Transaction Reports Act 1988, details of which follow. Australia’s Anti-Money Laundering Legislation Australian anti-money laundering legislation developed as a direct response to two Royal Commissions in the 1980s exposing the links between money laundering, major tax evasion, fraud and organized crime.

The Costigan and Stewart Royal” Commission identified the need for legislative strategies to address these issues, while initially focusing largely on suspect transactions and large cash transactions. Australia’s anti-money laundering legislation was later extended to include the reporting and monitoring of certain international transactions. Australia’s primary anti-money laundering legislation, the Financial Transaction Reports Act 1988 (FTR Act1), was enacted to erect barriers inAustralia’s wider financial and gambling sectors to discourage financially motivated criminals and to provide Financial intelligence to revenue and law enforcement agencies. It applies to a wide range of businesses within the financial services industry, including banks, building societies, credit unions, the insurance industry, the

travel industry and the gambling industry. The FTR Act imposes the following main obligations: ?It requires cash dealers to report suspect transactions?It requires reporting of certain domestic currency transactions, and currency transfers to and from Australia, of $10,000 or more ? Does it require reporting of international funds transfer instructions? It create an offence of opening or operating a bank account or similar account with a cash dealer in a false name ? It requires cash dealers to verify the identities of account holders or signatories and to block withdrawals by unverified signatories to accounts exceeding certain credit balance or deposit limits. To ensure that Australia’s anti-money laundering program is effective, the FTR Act specifies penalties for non-compliance with its reporting requirements or for the provision of false or incomplete information.

The reporting and identification requirements, backed by penalties for offences, provide a strong deterrent to money launderers and facilitators of money laundering. The global developments in value transfer technology, and the associated increase in the risks and complexity of money laundering. Australia’s anti-money laundering regulatory regime adapted the changing of international security and Commercial environment, the development of these obligations relevant to legal practitioners, accountants and company and trust service providers include: ? Expanded coverage of anti-money laundering system Use of a risk-based approach ?Maintaining anti-money laundering programs ?Customer due diligence ?Suspicious activity reporting Human Resources: Personnel or sub-contractors to work the event As a trade fair producer, we need to have access to subcontractors that can provide the support services we require. These include: ? Transportation services ?General contractor ?Installation and dismantle services ?A/V services ?Electricians and carpenters ?Customs brokers for bringing in exhibit

properties from international exhibitors ? Currency exchange servicesConsequently, we need to do research into what’s available.

One source that will provide excellent information is the Exhibition and Event Association of Australasia (EEAA), “the definitive association for the exhibition and event industry professional in Australia and New Zealand. It is the only association representing all aspects of the exhibition and event industry. ” We will contact this association and seek recommendations on suppliers we need to produce a successful event. In addition, I have worked with Pico Global Services Ltd. previously and am familiar with many of its management team.

The company will be able to provide many services we need along with recommendations for other contractors. Below is information culled from Pico’s website. Pico Global Services Ltd. Pico is one of the world’s leading event marketing service providers.

We tailor experiential marketing solutions to many of the Fortune 500 companies, government bodies and non-government organizations. With a track record of 38 years in exhibition industry, Pico has earned an unparalleled reputation for creating concepts and transforming them into living, breathing realities. Paramount to our success lies in our insistence n servicing our clients and partners with Creativity, Knowledge and Reliability. We provide total solutions on event marketing as well as satisfy individual needs in specialized areas.

Our core businesses include design and fabrication of exhibition stands; general contracting and technical services for trade show organizers; event hall and facilities management; events, conferences and show management; supply and installation of overlays for venues; permanent exhibits for museums, theme parks and visitor centers; interior fit-out; and advertising signage.Pico employs some 3,000 staff in its sales offices and production facilities in over

30 cities worldwide. Pico Far East Holdings Limited has been listed on the Hong Kong Stock Exchange since 1992 (HKSE Stock Code: 752). In the financial year of 2006, Pico Far East Holdings Limited reported a turnover of HK$1. 8 billion. Its associate company, Pico (Thailand) Public Company Limited has also been listed on MAI of Thailand since 2004 (Stock Code: PICO).

Preliminary suggested terms are as follows: ? 10% interest on principal ?Option to return capital after the first year with no penalty for early repayment ? Based on cash-flow projections, we request an interest-only investment for the first year; interest and principal the second year; and final principal and interest payments the third year. Or… ?Use of capital investment No interest on capital investment ?Equity interest in Class B stock of 10% and profit participation for five years. Appendix: Australia Quick Facts Political Status: Originally a member of the British Commonwealth, Australia was established as a federal state under a democratic parliamentary regime in 1901. Area: 2,966,136 sq.

Prime Minister: John Winston Howard (Liberal Party of Australia); sworn in March 4, 1996, following the election of March 2. He succeeded Paul Keating (Australian Labor Party). New governments were formed following elections of October 1998, November 2001, and October 9, 2004.Culture Environment & Issues Australia's isolation as an island continent has done much to shape and inhibit its culture. The Aboriginal peoples developed their accommodation with the environment over a period of at least 40,000 years, during which time they had little contact with the outside world. When Britain settled New South Wales as a penal colony in 1788, it did so partly because of the

continent's remoteness.

Australia's convict heritage ensured that European perceptions of the environment were often influenced by the sense of exile and alienation.Yet, the distance from Britain and the isolation it imposed strengthened rather than weakened ties with it. The ambivalence of the continuing colonial relationship, which only began to be dismantled in the second half of the 20th century, has been a central cultural preoccupation in Australia. Until World War II, Australian culture was almost exclusively Anglo-Celtic. The Aboriginal population was small and persecuted, and the Commonwealth government's exclusivist White Australia policy helped to maintain the continent's striking cultural homogeneity.

However, in the second half of the 20th century, immigration rules were relaxed and large influxes of both immigrants and refugees from eastern Asia, the Middle East, and various continental European countries made their way to Australia, each leaving an indelible imprint on the continent's culture. Likewise, a revival of Aboriginal identity and positive measures from the government to redress past wrongs, along with a dramatic increase in the Aboriginal population, unleashed a renaissance in the Aboriginal arts.Australians are proud of their heritage and progress—proud of the fact that a nation of convicts and working-class folks could build a modern egalitarian society in a rough and inhospitable land. They typically disdain the pompous and ostentatious, and they are often characterized as informal and “laid back. ” Their tastes in popular fashions and entertainment differ little from those in Europe and North America, and their humor is often characterized as sarcastic, ironic, and self-deprecating.

Drinking and gambling have long been important aspects of Australian popular culture, despite persistent government attempts to regulate and limit them. Beer has traditionally been

the drink of choice, but the explosion of Australian wine production has somewhat altered patterns. Since World War II, laws generally have been liberalized in favor of more “civilized” drinking and greater access to gambling, often through government-owned agencies. However, whereas an older generation turned to the pub for socializing, many of the young are likely to seek out the disco or trendy bar or restaurant.