Hydraulic Fracturing And Its Effects On The Environment

Hydraulic Fracturing Maya Murray Mr. Iwasaki Chun MYP Chemistry Essay 3 May 2015 Maya Murray Mr. Iwasaki Chun MYP Chemistry 3 May 2015 Hydraulic Fracturing â€Å"Our country will have drilled and fracked our way down a blind alley for a short lived energy boom† (qtd. In †¦). Hydraulic fracturing, also known as fracking, is the process of drilling and injecting fluid into the ground at high pressure in order to fracture shale rocks to release natural gases inside. Many people are referring to fracking as an energy revolution that will last America at least 100 years. What they don’t know is that at the rate we are going, it wont last us 40, and the effects that it has on the environment will make earth’s lifespan shorter too. We need to stop hydraulic fracturing because it is wasteful, harms water reservoirs, and is hazardous to people and the environment. North America has never been one to boast of rich oil reserves, but we have an abundant amount of natural gases. Until recently these natural resources have been unobtainable and untapped. But thanks to technological advancements, we are n ow able to exploit these rich gas reserves. Hydraulic fracturing has revolutionized the production of energy in the United States as well as other places in the world. In 2011, shale gas made up 25% of American gas supply. We depend on these natural resources to fuel our everyday lives. Without them, what would we use for water heating, cooking, or anything else that reliesShow MoreRelatedThe Effects Of Hydraulic Fracturing On The Environment1695 Words   |  7 PagesDangers of Hydraulic Fracturing Despite its many advantages, hydraulic fracturing poses serious threats to the environment. Some of the commonly identifiable effects of hydraulic fracturing include water pollution, over depletion of water resources, noise pollution, air pollution as well as contributing to land movements such as tremors and earthquakes (Boudet et al. 57). According to Boudet et al. (58), fracking presents challenges that prompted the Environmental Protection Agency (EPA) to commenceRead MoreThe Effects Of Hydraulic Fracturing On The Environment1275 Words   |  6 Pages Hydraulic Fracturing Hydraulic fracturing is known as the process of inserting sand, chemicals, or water into the ground to crack the deep deposits. Additionally, high pressure is required due to the far distance. Next, a pressurized rock layer is created, this is called Marcellus Shale. After, sand or water is used to keep the fissures open for continuous release of shale (natural) gas or oil. To transport water to the site, the trucks must be used for transportation. However, these huge trucksRead MoreHydraulic Fracturing And Its Effects On The Environment1737 Words   |  7 PagesHydraulic Fracturing has led to less cases of contamination than any other method of oil extraction, which is contrary to popular belief. There have been many useful regulations that turned a once feared industry to an environmentally safe, highly profitable industry. Hydraulic Fracturing is worth the risks it poses on the environment, because it will bolster the U.S. economy and foreign policy, provide billions of Petro leum barrels and trillions of square feet of natural gas, and it is not as harmfulRead MoreThe Effects Of Hydraulic Fracturing On The Environment1622 Words   |  7 Pages Hydraulic Fracturing is a process which uses water to crack rock formations as a means to extract natural gas or oil. This method is highly debatable as to whether it uses too much water in areas that have fragile water sources as well as whether the process contaminates surrounding water sources. The State of Texas is a hotspot for hydraulic fracturing because of the amount of shale formations which can produce oil and natural gas. Texas is a dry state which often experiences severe droughts. ThereRead MoreHydraulic Fracturing And Its Effects On The Environment1467 Words   |  6 PagesHydraulic Fracturing Introduction For this assignment I have chosen to look in to a subject that is in the news media spotlight. The subject is the process of hydraulic fracturing. In this paper, we will learn about this process by answering the following questions. First what is hydraulic fracturing and what is the process used for. Then we will look at the actual process of hydraulic fracturing (how it works). Next we will take a closer look at some of the chemical use during the hydraulic fracturingRead MoreThe Possible Effects of Hydraulic Fracturing in Newfoundland1278 Words   |  5 Pagesessay will examine the possible effects of hydraulic fracturing in Newfoundland. Hydraulic fracturing is the process of retrieving natural gas from the earth by injecting fluid into a borehole and pressurizing it, creating cracks in the rock. hydraulic fracturing fluid is made up of small beads of sand or ceramic, which prop open the cracks in the rock, as well as water and chemicals, which help suspend the proppants (sand or ceramic). The hydraulic fracturing fluid is pressurized, allowing theRead MoreFracking and the Halliburton Act Essay1132 Words   |  5 PagesIntroduction â€Å"Hydraulic fracturing involves the use of water pressure to create fractures in rock that allow the oil and natural gas it contains to escape and flow out of a well (Energy From Shale).† Fracking has served to extract natural gas and oil where other methods would not be as successful but many environmentalists argue that fracking is affecting the environment and our drinking supply of water. Although fracking is still a controversial topic, it provides Americans jobs, increases theRead MoreAlternative Energy Sources1852 Words   |  7 Pagesof the energy source through the process of hydraulic fracturing. In this report the following topics will be discussed to get a better understanding of natural gas and the hydraulic fracturing process. An overview of natural gas will be discussed. A detail description of the hydraulic fracturing process will be provided. The advantages and disadvantages of hydraulic fracturing will also be compared. Finally the report will look at h ydraulic fracturing in a South Africa context and weigh all theRead MoreHydraulic Fracturing Is Risky And Dangerous For The Environment1153 Words   |  5 PagesFlint did. Well there is. Everywhere there is Hydraulic Fracturing, there is a risk that your tap water will become polluted. Hydraulic Fracturing is risky and dangerous for the environment and not worth the benefits of natural gas. Hydraulic Fracturing is a process that involves drilling a well and injecting water at high speeds to break up rocks and minerals underground and allows natural gas to flow out to be collected, according to Hydraulic Fracturing Should be Banned written by the Food and WaterRead MoreHydraulic Fracturing Has Recently Grown In Popularity As1516 Words   |  7 PagesHydraulic fracturing has recently grown in popularity as a means of energy production. There are advantages and disadvantages, mainly relating to the environment and the economy, of this industry. Although there are pros and cons to both sides of the issue, a compromise needs to be found for both the safety of the environment and to be able to support affordable energy production. Hydraulic fracturing, as an industry, has had a large economic impact by creating jobs. Using natural gas from hydraulic

The Decision Making Process Criteria - 1064 Words

ALTERNATIVE APPROACH In retrospect, if the following leadership decision-making process criteria would have been followed many children would not have been exposed to molestation. The Freeh report (2012) made more than 100 recommendations for change to be instituted by PSU including restructuring governance; administration and general counsel structure, policies and procedures. Additionally, the university culture needs to transform stressing values and ethics-based decision making. A process adjustment is required for compliance, risk and misconduct reporting. The athletic department must be integrated into an oversight and compliance process by the leadership. The programs involving children require greater management leadership with frequent accountability process to be established. Ultimately, the leadership itself that was involved in the case should be transitioned. Another primary recommendation of the report was to appoint an ethics officer to serve as counsel to the Pr esident and board on ethics issues and alignment with Penn State Principles. The officer is to establish a council and select a Chief Compliance Officer (CCO) with whom ethics initiatives are synchronized. The goal of this council is to emphasize and practice transparency at all levels while communicating openly and frequently with the university around issues. The university was also asked to establish the Penn State Rock Ethics Institute. The Ethics OfficerShow MoreRelatedDecision Making Cycle1030 Words   |  5 Pages § The principles involved in managerial decision making and effective problem solving. The Rational Decision Making emerges from Organizational Behavior. The process is one that is logical and follows the orderly path from problem identification through solution. The Rational Decision Making is a seven step model for making rational and logical reasons: Define the problem The very first step which is normally overlooked by the top level management is defining the exact problem. ThoughRead MoreThe Decision Making Process as It Relates to Planning1423 Words   |  6 PagesDecision making is the cognitive process leading to the selection of a course of action among alternatives. Usually the decision making process is implemented resulting from an identified problem that needs to be addressed and remedied. Each decision making process produces a final choice, which is called a decision. Planning is an integral part of the process. Without an organized plan, a final decision will be very difficult to achieve. Planning and decision making are very similar, yetRead MoreDecision Support Systems For Aide932 Words   |  4 Pageschoices when it comes to the use of decision support systems to aide in information reduction to make informed decisions. Of the many tools available, two in particular are useful in the presence of excessive information. The Pugh Matrix which can be used to consolidate information and show the relative difference in measurement criteria among different candidate choices. The decision tree is a useful tool for making decisions when there are layered decisions that must be made to reach a final resultRead MoreNascar Case Study923 Words   |  4 PagesCase study on NASCAR 1. How do you think good decision making has contributed to the success of NASCAR? Ans. Almost every company wants success. To have a successful company, we need to know about the decision making process, and how, and when it works. According to the text, â€Å"Decision-making process is a set of eight steps that include identifying a problem, selecting an alternative, and evaluating the decision’s effectiveness.† Not only does a manager need to know this term but they also needRead MoreDecision Making Process From A Manager s Point Of View1730 Words   |  7 PagesEssay A manager has to make and implement decisions as part of his role. Discuss the decision making process from a manager’s point of view. What is the role of intuition in decision making? Why do managers make wrong decisions? According to the essay question, as part of manager’s role, they have to grind and use their skills to make important decisions that will affect the future of their business. Decision-making is an important organisational process that impacts every level including, individualRead MoreThe Sustainability Of The Supplier1475 Words   |  6 Pagesbeen an important decision that affects the organisation objectives. So researches have been conducted and case studies have been explored and investigated to reach the optimal approach to select a supplier that satisfies both customers and stakeholders and to achieve the organisation goals. Therefore, a multi-criteria decisionmaking process should be adapted to execute supplier selection operation properly. Resources selection needs to go through many steps to assist decision-makers to do theirRead MorePlatform Strategies For Multiple Criteria Decision Making899 Words   |  4 PagesMultiple Criteria Decision Making (MCDM) Decision making is the study of identifying and choosing alternatives based on the values and preferences of the decision maker. Making a decision implies that there are alternative choices to be considered, and in such a case we want not only to identify as many of these alternatives as possible but to choose the one that best fits with our goals, objectives, desires, values, and so on. Decision making should start with the identification of the decision maker(s)Read MoreNascar Case Study937 Words   |  4 PagesCase study on NASCAR 1. How do you think good decision making has contributed to the success of NASCAR? Ans. Almost every company wants success. To have a successful company, we need to know about the decision making process, and how, and when it works. According to the text, â€Å"Decision-making process is a set of eight steps that include identifying a problem, selecting an alternative, and evaluating the decision’s effectiveness.† Not only does a manager need to know this term but they also needRead MoreDecision Making An Effective Decision1094 Words   |  5 PagesDecision-making is an important process. It can be a task, which needs a simple decision to be made or a difficult situation involving several issues. In difficult situations, there may be uncertainty and complexities, wherein there may be interrelated factors that could lead to high-risk consequences, the impact of the decision made could be very important. Every situation will have its own set of uncertainties and consequences. Interpersonal issues too come in the way of making an effective decisionRead MoreIntroduction And Objectives Of The Study. Introduction1149 Words   |  5 Pagesmeasuring the impact of each project and especially when there is more than one decision maker. The criteria being considered always vary from one contractor to another. Some may only consider the revenue and value of project, whilst some may focus on its financial of owner, knowledge of supervisor and so on. Construction projects often fail to achieve their time, budget, profitability and quality goals. The analytic hierarchy process (AHP) is a new approach that can be used to analyse and assess project

Franchising Business Samples for Students †MyAssignmenthelp.com

Question: Discuss about the Franchising a Business. Answer: Introduction A franchise is a right or license provided by the franchisor to another party, the franchisee, providing them the right to sell their products or provide their services under the name of the franchisor. This is a popular method of starting a business. The franchisee generally pays one time franchise fee plus a percentage of sales profit as royalty and in return obtains existing brand recognition, tried and tested products, techniques of running and promoting the operations of business and support of parent company (Mathews 2011). This file will discuss about the advantages and disadvantages of becoming a franchisor and what can and cannot be franchised. This file will analyse the franchise relationship, the role of ethics in franchise and cultivation of franchising from McDonalds perspective. This file will consider the personal experiences, personality, and preferences of McDonalds that helped them becoming arguably the most famous franchise in the world. McDonalds Corporation is an American hamburger and fast food restaurant chain operating in restaurants industry and it is one of the worlds leading food service retailers. McDonalds franchise was founded by Ray Kroc. McDonalds mission is To be our customers first choice, when it comes to, top quality products, outstanding service/cleanness and great value for money. Its vision is To be the best quick service restaurant experience. McDonalds is worlds top fast food chain according to Forbes (2017). McDonalds has more than 36 thousand restaurants in over 120 countries, serving 68 million customers each day (McDonalds 2017). Requirements for a franchise Not all businesses can be franchised. There are few basic rules and principles that help in determining whether a business could be franchised. Franchising a business help in faster growth and expansion, but certain principles are required to be followed by companies to ensure a successful franchise. To establish a successful franchise, the founders require planning thoroughly and showing dedication towards their goals. Companies can implement the procedure of successful franchises, in order to achieve success in their business (Carty 2004). According to Siebert (2016), a business can be franchised if it can be expanded. Following are the standards for successful franchise business according to Siebert: A practical prototype showing that the concept of franchise work. For the growth of the franchise, prior planning by founders is required. A prototype of franchise assists investors determining the plans of the company and ascertaining the risks, aiding their decision for investing in the franchise. The concept of business is necessary to be marketable. For genuine competition advantage, the business must be adequately different from its competitors. The potential in the idea and ability to appeal a prospective investor is also required. A franchise business cannot work if assistance or technical knowledge of owner is required in day to day activities. A franchise business must be cloneable meaning a franchise owner must easily understand the working of the franchise and all the operating procedures of business are properly documented. After deduction of royalty, the business is able to generate an adequate return on investment. A business requires at least 15 to 20 per cent return on investment after paying the royalty, or else the business suffers to survive in the market. The amount invested by the franchise owner should be secured in order to increase the investment. A higher return on investment increases the number of investors in a franchise. Proper support from the experienced, knowledgeable and committed management team is also required to sell franchises. The support from the top management of franchise increases the trust of investors, proving a sense of security in business. According to Gagnon (2010), not all businesses could be franchised, basic criteria of rules and principles assist in determining whether franchising their business is better for a particular company. The first criteria for the successful franchise are to determine whether a business can be reproduced. The franchise ability to work properly day to day, without the founders supervision is necessary for its success. The requirement of founders assistance in daily decisions, reduce the franchise growth. The business of franchise must be profitable enough to attract investors. Generally, people start a business to make a living, pay their debts, and to make some profit before retirement. The concept of the franchise should be profitable for both franchisee and franchisor. In franchise relationship one party should not take advantage of another party and business should be profitable for both parties. The financial stability of franchisor is necessary for starting a franchise. The franchisor requires presenting the idea of the franchise to investors, preparing various documents and providing training to the franchisee. A significant amount of capital is required to invest by the franchisor, in order for franchise growth. Franchising might aid in rapid growth and development of the business, still, franchising is not a suitable option for every business. The founders should consider the criteria of a franchise, and critically examine whether franchising their business would be beneficial for them along with their investors. McDonalds has implemented these principles in business, helping them achieve success in their franchise. McDonalds franchise has consistency in their franchises. The process of their franchise is easily cloneable. McDonalds top management provide assistance and support to their franchise owners. The restaurant business is profitable enough to acquire a high return on investment for their investors. The promotion team does worldwide marketing of the products, increasing the numbers of customers. All these principles assist McDonalds in becoming one of the worlds top franchises. Advantages and Disadvantages The franchise has numerous advantages for the franchisor. The key advantages are opportunities to raise capital from the market through franchising. Increase in capital help in the rapid growth of business and generate infrastructure for the company. Growth in franchises significantly increases the production of the company, eventually increasing buying capacity, aiding in decreased cost for the company. The franchisor has the freedom to direct franchise owners for selling only the specific products or get materials from certain sellers for production of the products (Peterson 1990). The franchisor can add more outlets to get a significant reach over the greater audience. More outlets help franchisor in leveraging their brand. Companys wider reach with customers helps in instant brand recognition, eventually increasing trademark value of the company. Franchising a company expands business through great boundaries and in different countries, diversifying their customers. Less supervision of franchisor is required in the business because day to day activities are handled by the franchisee with the help of training provided to them by the franchisor. Due to a wider reach of franchises, the company can get a daily insight of diverse customers, helping the company in implementing new innovations for satisfying their desires and increasing customer loyalty (Bisio 2009). The franchise is an easy way of rapid growth for business but it does not guarantee success. Franchising a company decreases net receipts of a business since franchisor gets paid in royalties and other fees, which are a small part of revenue. Franchisee takes more of the gross revenue from the business after paying the royalty. The franchisor does not have direct management control since franchise owners are not employees. The operations of the business work according to the franchise agreement; however, day to day decisions are left with the franchise owner. The procedure of terminating a franchisee is more complicated than terminating an employee; the process could take time and money of the franchisor. A franchise owner that does not comply with franchise agreement, additional contracts, or the operation manual, could impact negatively on the brand of the organisation. The customer generally saw a franchised-owned business as being owned and operated by franchisor and actions of one franchise owner could negatively affect the reputation of the whole franchise. The cost of starting a franchise business from the beginning is significantly higher. Communication in every business is particularly important; any sort of miscommunication between franchisee and franchisor could cause failure in business (Chiou 2004). Franchising requires various disclosures and a considerable amount of paper work by the company while registering in other countries (Grossmann 2017). McDonalds Corporation operates in the restaurant industry which is the biggest sector in franchise market, holding more than 20% of the market (Herold 2014). According to the PricewaterhouseCoopers (2016), a total economic output of more than 1.53 trillion and 18 million jobs in the United States of America was generated by franchised own businesses in 2001. This represents nearly 14% of the private-sector employment and 10% of private sector economy in the United States of America. And between 75 identified industries groups operating in the franchise business, restaurants industry hold the biggest market share. These statics shows the opportunities of restaurants industry in franchise market. McDonalds is the worlds number one franchise according to Franchise Direct (2017). This data shows the suitability of McDonalds corporation as a franchise. Franchise Relationship and Cultivation A relationship between the franchisor and franchisee describe as franchise relationship usually termed as commercial marriage. The details and terms of the relationship generally provided under the franchise agreement, license, contracts and other documents, primarily in the operating manual. A franchise relationship does not consist of a fiduciary relationship between franchisor and franchisee. Both the parties of a franchise have a common brand; still, both are different businesses, interdepending upon each other while working. In order to maintain healthy franchise relationship, the franchisor and franchisee should follow the terms of agreement lawfully and support each other in business. Franchise relationship consists of trust, mutual respect, commitment to common goal, professionalism, attitude focused towards customers needs and high quality of work output. An inappropriate activity of a franchise could adversely affect the business of whole franchise, therefore maintaining a positive franchise relationship is necessary for the success of the entire franchise. Before entering into a franchise relationship with investors, the franchisor should ensure their capability of working towards the goal of the franchise. A franchise owner represents the vision of the whole franchise to the customers; therefore they are required to maintain the reputation of the franchise (Steinberg 2004). McDonalds corporation is an American hamburger and fast food chain, founded by Ray Kroc. The motto of Kroc was Quality, Service, Cleanliness and Value in a franchise. The decision of franchising McDonalds restaurants proved to be significantly profitable. McDonalds follow simple guidelines, helping them become a successful franchise chain (Hoover 2003). Following are the personal experiences, personality traits and preferences of McDonalds that helped them cultivating the franchise business: McDonalds follow principle of consistency throughout their franchise restaurants. There is consistency in every restaurant of McDonalds in the world, meaning a customer of America finds similarity in restaurants while ordering in McDonalds of Germany. The familiarity in restaurants is appreciated by the customers, helping McDonalds growth worldwide. McDonalds develop a strong and efficient process of cooking hamburgers, decreasing the customers waiting time for order. The quick service and time saved in ordering were appreciated by customers, increasing brand loyalty for McDonalds. McDonalds keep innovating new features in the restaurants for the benefits of customers like the establishment of first drive-thru in 1975, helping customers to book their order from their car. The introduction of happy meals, one dollar breakfast, and outsourcing order-taking helped McDonalds increasing their growth. McDonalds maintained their goodwill after opening more than 36,000 restaurants worldwide serving 68 million customers each day. McDonalds focus on customer experience (ordering, payment, place to sit) and customer engagement (social media), which help in differentiate them from their competitors. McDonalds is known for changing their menu according to the preference of customers from different countries. For example, while entering in the Indian market McDonalds removed beef from their menu and introduced new vegetarian hamburgers like Aalo Tikki or Veg Maharaja Mac. This change helped them emerged in the Indian market as a top fast food chain (Watson 2006). McDonalds Corporation had enormous success in the franchising business. The business model of McDonalds is suitable for the franchise overall growth. McDonalds process of working is efficient and easily cloneable, helping new investors quickly learn its process. McDonalds provide leadership, help, and support to the franchise owner, increasing their confidence in the franchise. The customers reliance increases due to consistency, simplicity, and innovation of the franchise (Vignali 2001). Role of Ethics in franchising During the past decade, the worldwide growth of franchising has been remarkable. At the same time, many questionable activities have caught media attention in the market. The requirement of the role of ethics increases, to maintain a good reputation of the franchise in the market. The actions of one franchise owner could affect adversely over the reputation of entire franchise. The ethics of franchise cover the relationship between franchisee and franchisor, avoiding any unethical behaviour of parties. The franchise ethics includes practices and policies of business regarding affairs that are controversial (Preble 1999). Many franchises are part of associations like British Franchise Association or International Franchise Association, who have a separate code of ethics for franchises. Following are the role of ethics in a franchise business: The most significant code of ethics is disclosure of truthful information between parties. Both the parties of a franchise must disclose all the facts and details that could affect franchise adversely. The franchisor should not hide any facts regarding franchise from the investors while entering into a franchise agreement. Timely disclosure of the facts by the franchise owner increases the trust of the franchisor. All the disclosure regarding customers feedback could benefit the franchise by introducing the products, more satisfying to their customers needs (Helin 2007). Every term and condition of the franchise should be disclosed by franchisor while signing the franchise agreement, and terms of the contract should be clear and authentic. The franchisor should not enact policies that could affect adversely over the business of a franchise owner. The franchise owner should follow the rules and policies according to the franchise agreement. It is an offense to hide any fact or any key information from the parties, which could affect franchise negatively (Bebchuk 2007). Many companies open their franchises in different countries; in that case, the following of code of ethics of the country is required by the franchise. To avoid any unethical activities of a franchise, various countries have a code of ethics to protect their citizens. The role of ethics changes according to various industries, meaning different industries have a separate code of ethics. The code of ethics protects parties while termination of the franchise agreement. The code of ethics avoids any unfairness to the parties, in the case of cessation of the agreement. Any illegal act, affecting the party of the franchise negatively, could be avoided by the code of ethics. The code of ethics stops franchise owner from misusing the trademark of the franchise, because a negative action of one franchise owner could negatively impact the business of whole franchise or other owners. McDonalds operates in restaurants and food industry, requiring them to maintain high standard while serving their customers. For securing the health of customers, McDonalds operates high standards of security while cooking food. Various safety guidelines are followed by all the franchises of McDonalds (Min 2011). The role of ethics is different in various industries. McDonalds train their franchise owners about the procedure of cooking; therefore less supervision of top management is required in day to day activities. The code of ethics for restaurants industry is to provide better working conditions to their employees and protect the environment from pollution (Kaufmann 1994). Conclusion Franchising a business could be highly beneficial for a company, but there is no guarantee of success for a franchise. Franchising their business is not suitable for all the companies. Companies require following certain guidelines, helping them to achieve success in their franchise. There are various advantages of starting a franchise like global recognition, rapid growth, and higher profits, but there are various disadvantages as well, like the problem in communication, no direct management and the negative act of one franchise owner affecting the entire reputation of the franchise. To avoid such disadvantages, a healthy franchise relationship is requiring maintaining between the franchisor and franchisee. McDonalds has transformed from a single hamburger restaurant into worldwide franchise chain of restaurants. McDonalds sees the franchise relationship between franchisee, franchisor, and supplier, of paramount importance for the success of the business. McDonalds does not offer their franchise to big investors or partnerships; instead, they choose people who rely on their franchise as a sole source of income, because Ray Kroc believes these peoples are more dedicate to their franchises. Following these principles has been beneficial for the business of McDonalds, making them one of the top franchises in the world. References Bebchuk, L.A. (2007). The myth of the shareholder franchise. Virginia Law Review, 675-732. Bisio, R. Kohler, M. (2009). The Educated Franchisee: The How-To Book For Choosing a Winning Franchis. BASCOM Hill Publishing Group, Minneapolis. Carty, R.K. (2004). Parties as franchise systems: The stratarchical organizational imperative. Party Politics, 10(1), 5-24. Chiou, J.S., Hsieh, C.H. Yang, C.H. (2004). The effect of franchisors communication, service assistance, and competitive advantage on franchisees intentions to remain in the franchise system. Journal of Small Business Management, 42(1), 19-36. Forbes. (2017). Top 10 Global Fast-Food Chains. Retrieved from https://www.forbes.com/pictures/eglg45fkdjj/1-mcdonalds/#1717d43d2132 Franchisedirect. (2017). Top 100 Global Franchises Rankings. Retrieved from https://www.franchisedirect.com/top100globalfranchises/rankings/ Gagnon, M. (2010). Can Your Business Be Franchised. Retrieved from https://davierconsultants.ca/media/ArticleEfranchising.pdf Grossmann, R. (2017). Franchise Bible: How to Buy a Franchise or Franchise Your Own Business. Entrepreneur Press, California. Helin, S. Sandstrom, J. (2007). An inquiry into the study of corporate codes of ethics. Journal of Business Ethics, 75(3), 253-271. Herold, T.S. (2014). The Fastest-Growing Sectors in the Franchise Industry. Retrieved from https://www.entrepreneur.com/article/240720 Hoover, V.L., Ketchen, D.J. Combs, J.G. (2003). Why restaurant firms franchise: An analysis of two possible explanations. The Cornell Hotel and Restaurant Administration Quarterly, 44(1), 9-16. Kaufmann, P.J. Lafontaine, F. (1994). Costs of Control: The source of economic rents for McDonalds franchisees. The Journal of Law and economics, 37(2), 417-453. Mathews, J. (2011). Street Smart Franchising. Entrepreneur Press, California. McDonalds. (2017). An Iconic Brand, Moving Toward the Future. Retrieved from https://corporate.mcdonalds.com/mcd/our_company.html Min, H. Min, H. (2011). Benchmarking the service quality of fast-food restaurant franchise in the USA: A longitudinal study. Benchmarking: An International journal, 18(2), 282-300. Peterson, A. Dant, R.P. (1990). Perceived advantages of the franchise option from the franchisee perspective: Empirical insights from a service franchise. Journal of Small Business Management, 28(3), 46. Preble, J.K. and Hoffman, R.C. (1999). The nature of ethics codes in franchise associations around the globe. Journal of Business Ethics, 18(3), 239-253. PricewaterhouseCoopers. (2016). The Economic Impact of Franchised Businesses. vol. 6. Retrieved from https://www.franchise.org/sites/default/files/Economic%20Impact%20of%20Franchised%20Businesses_Vol%20IV_20160915.pdf Siebert, M. (2016). Franchise Your Business: The Guide to Employing the Greatest Growth Strategy Ever. Entrepreneur Press, California. Steinberg, P. Lescatre, G. (2004). Beguiling Heresy: Regulating the Franchise Relationship. Penn St. L. Rev., 109, 105. Vignali, C. (2001). McDonalds think global, act local- the marketing mix. British Food Journal, 103(2), 99-111. Watson, J.L. (2006). McDonalds in East Asia. Stanford University Press.