ACS Entrepreneurial Leadership

Aerospace

Aerospace describes the human effort in science, engineering and business to fly in the atmosphere of Earth (aeronautics) and surrounding space (astronautics). Aerospace organizations research, design, manufacture, operate, or maintain aircraft and/or spacecraft. Aerospace activity is very diverse, with a multitude of commercial, industrial and military applications. In most industrial countries, the aerospace industry is a cooperation of public and private industries. For example, several countries have a civilian space program funded by the government through tax collection, such as NASA in the United States, ESA in Europe, the Canadian Space Agency in Canada, Indian Space Research Organization in India, JAXA in Japan, RKA in Russia, China National Space Administration in China, SUPARCO in Pakistan, Iranian Space Agency in Iran, and Korea Aerospace Research Institute (KARI) in South Korea. Along with these public space programs, many companies produce technical tools and components such as spaceships and satellites. Some known companies involved in space programs include Boeing, EADS, Lockheed Martin, MacDonald Dettwiler and Northrop Grumman. These companies are also involved in other areas of aerospace such as the construction of aircraft. In the past few years, the global aerospace industry has witnessed an impressive growth, with the civil aviation segment emerging as the major contributor to its expansion. The US and European countries are the dominant markets for the aerospace industry, and acting as catalyst for the overall growth. The global aerospace industry is forecasted to register CAGR of around 2.5%. As per our new research report, “Global Aerospace Industry Outlook”, the aerospace industry has globally emerged as a highly potential market, even after the recession. US represents the biggest aerospace market in the world, followed by France, UK, Germany and Canada. In near future, developing nations, like China, India, Mexico, and Brazil are expected to emerge as potential marketplaces for aerospace products.

Grand Cayman, Cayman Islands

The economy of the Cayman Islands, a British overseas territory located in the western Caribbean, is mainly fueled by the tourism sector and the financial services sector, together representing 70-80 percent of the country’s gross domestic product (GDP). The Cayman Islands Investment Bureau, a government agency, has been established with the mandate of promoting investment and economic development in the territory. The emergence of what are now considered the Cayman Islands’ “twin pillars of economic development” (tourism and international finance) started in the 1950s with the introduction of modern transportation and telecommunications.

The Cayman Islands are now the fifth-largest banking center in the world, with $1.5 trillion in banking liabilities. There are 279 banks, 19 of which are licensed to conduct banking activities with domestic (Cayman-based) and international clients, the remaining 260 are licensed to operate on an international basis with only limited domestic activity. Financial services generate CI$1.2 billion of GDP (55% of the total economy), 36% of all employment and 40% of all government revenue. The country ranks fifth internationally in terms of value of liabilities booked in the Cayman Islands and sixth in terms of assets booked. It has branches of 40 of the world’s 50 largest banks.

The Cayman Islands are the second largest captive domicile in the world with more than 700 captives, writing more than US$7.7 billion of premiums and with US$36.8 billion of assets under management. There are a number of service providers. These include global financial institutions including HSBC, Deutsche Bank, UBS, and Goldman Sachs; over 80 administrators, leading accountancy practices (incl. the Big Four auditors), and offshore law practices including Maples & Calder. They also include wealth management such as Rothschilds private banking and financial advice. Caymanians enjoy one of the highest outputs per capita and one of the highest standards of living in the world.

Chemicals

The chemical industry comprises the companies that produce industrial chemicals. Central to the modern world economy, it converts raw materials (oil, natural gas, air, water, metals, and minerals) into more than 70,000 different products. In the U.S. there are 170 major chemical companies. They operate internationally with more than 2,800 facilities outside the U.S. and 1,700 foreign subsidiaries or affiliates operating. The U.S. chemical output is $750 billion a year. The U.S. industry records large trade surpluses and employs more than a million people in the United States alone. The chemical industry is also the second largest consumer of energy in manufacturing and spends over $5 billion annually on pollution abatement. In Europe the chemical, plastics and rubber sectors are among the largest industrial sectors. Together they generate about 3.2 million jobs in more than 60,000 companies. The chemical sector alone represents 2/3 of the entire manufacturing trade surplus of the EU. The chemical sector accounted for 12% of the EU manufacturing industry’s added value. Europe remains the world’s biggest chemical trading region with 43 % of the world’s exports and 37%of the world’s imports, although the latest data shows that Asia is catching up with 34% of the exports and 37% of imports. Even so Europe still has a trading surplus with all regions of the world except Japan and China where there was a chemical trade balance. Europe’s trade surplus with the rest of the world today amounts to 41.7 billion Euros. The chemical industry has shown rapid growth for more than fifty years. The fastest-growing areas have involved the manufacture of synthetic organic polymers used as plastics, fibers and elastomers. Historically and presently the chemical industry has been concentrated in three areas of the world, Western Europe, North America and Japan. The European Community remains the largest producer area followed by the USA and Japan.

Defense

The arms industry is a global business that manufactures weapons and military technology and equipment. It consists of commercial industry involved in research, development, production, and the service of military material, equipment, and facilities. Arms producing companies, also referred to as defense contractors or military industry, produce arms mainly for the armed forces of states. Departments of government also operate in the arms industry, buying and selling weapons, munitions and other military items. Products include guns, ammunition, missiles, military aircraft, military vehicles, ships, electronic systems, and more. The arms industry also conducts significant research and development. It is estimated that yearly, over 1.5 trillion US dollars are spent on military expenditures worldwide (2.7% of World GDP). Part of this goes to the procurement of military hardware and services from the military industry. The combined arms sales of the top 100 largest arms producing companies amounts to an estimated $315 billion. Many industrialized countries have a domestic arms industry to supply their own military forces. Some countries also have a substantial legal or illegal domestic trade in weapons for use by its citizens. The Small Arms Survey estimates 875 million small arms in circulation worldwide, produced by more than 1,000 companies from nearly 100 countries.

Energy

The energy industry is the totality of all of the industries involved in the production and sale of energy, including fuel extraction, manufacturing, refining and distribution. Modern society consumes large amounts of fuel, and the energy industry is a crucial part of the infrastructure and maintenance of society in almost all countries. In particular, the energy industry comprises: the petroleum industry, including oil companies, petroleum refiners, fuel transport and end-user sales at gas stations; the gas industry, including natural gas extraction, and coal gas manufacture, as well as distribution and sales; the electrical power industry, including electricity generation, electric power distribution and sales; the coal industry; the nuclear power industry; the renewable energy industry, comprising alternative energy and sustainable energy companies, including those involved in hydroelectric power, wind power, and solar power generation, and the manufacture, distribution and sale of alternative fuels; traditional energy industry based on the collection and distribution of firewood, the use of which, for cooking and heating, is particularly common in poorer countries. Production and consumption of energy resources is very important to the global economy. All economic activity requires energy resources, whether to manufacture goods, provide transportation, run computers and other machines. Widespread demand for energy may encourage competing energy utilities and the formation of retail energy markets.

Orlando, FL

The City of Orlando is an international business center. A bustling downtown draws businesses of all types and is especially strong in its ability to attract corporate headquarters. Some of those that have selected downtown Orlando include BBA Aviation, Signature Flight Services, CuraScript and Indra Systems, Inc. The city’s potential has only begun to be realized. Numerous major multi-use commercial projects are on the drawing board. An unprecedented level of office development is planned for downtown Orlando. All told, more than one million additional square feet of construction has been announced for the downtown business district. But, downtown Orlando is more than just business. Ten public and private secondary schools, all noted for excellence and innovative teaching, bring schoolchildren of all socio-economic realms into our downtown on a daily basis. Downtown is also alive with higher education. In addition to its downtown center that specializes in continuing education, the University of Central Florida’s Interactive Entertainment Academy’s (FIEA) state-of-the-art facilities and faculty train graduate-level game developers on an innovative campus once housed the City’s local expo center. UCF is also planning an expanded downtown campus to enhance educational opportunities for students which will further energize downtown. Florida A&M’s Law School opened in downtown Orlando in fall 2002. Florida State University’s Medical School has a regional campus in Delaney Park, just south of downtown, where third and fourth year medical students complete their training through involvement with two of the nation’s largest healthcare systems, both of which are also located in downtown Orlando. Valencia College also has a downtown Orlando campus.