Hydraulic Fracturing Has Recently Grown In Popularity As

Hydraulic 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 fracturing, instead of coal, in electricity production has decreased carbon dioxide emissions. The drop in natural gas prices, because of increased production, has lead to cheaper energy prices. Hydraulic fracturing has the potential to†¦show more content†¦After the correct depth is reached, then a directional, or horizontal section is drilled to reach the oil or gas deposits. The fractures in the rock are formed from a process that consists of pumping a large amount of a fluid mixture into the rock formations at high pressures. The fluid is mostly made of water, a proppant (materials that keep the fractures open), and chemicals that help open the rock fractures further. Internal pressure pushes the fluid mixture back to the surface after the process is complete. The fluid that comes back to the surface is referred to as â€Å"flowback† or â€Å"produced water.† This waste fluid is usually â€Å"injected underground for disposal,† but in some cases it is treated with more chemicals and then discharged into water sources (â€Å"The Process of Hydraulic Fracturing†). The process of hydraulic fracturing has made it easier to reach gas and oil reserves that used to be impossible to access, this has led to a dramatic expansion of energy production and an increase in the activity level of the economy (Hassett and Mathur). The use of hydraulic fracturing and directional horizontal drilling are being used together to reach oil and gas that was previously unreachable with old drilling methods (Romich and Schumacher). In Ohio, there have been at least 80,000 natural gas and oil wells that have used fracking at varying depths (â€Å"Hydraulic Fracturing†). There are areas in Eastern Ohio that contain deposits of dry gas (farthest east) and wet gases and

Want to Know More About Ib Math Extended Essay Topics?

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Summay Reinventing Your Business Model Free Essays

Reinventing Your Business Model By Mark Johnson, Clayton Christensen Henning Kagermann Summary Submitted by Tiffany The article â€Å"Reinventing Your Business Model† is focused on the importance of innovating business models as a means of providing new growth and opportunities for an organization. The three authors, Johnson, Christensen and Kagermann, provide a layout to demonstrate possibilities for an organization. The first step is to understand the definition of a business model. We will write a custom essay sample on Summay: Reinventing Your Business Model or any similar topic only for you Order Now The article explains that a business model consists of four elements that each work together to provide value. These elements include customer value proposition (CVP), which is â€Å"a way to help customers get an important job done. † Next is the profit formula which is the plan for how the company will money while provide a value to the customer. The third element, key resources, is the assets that are required in order to fulfill the customer value proposition. Lastly, key processes are the primary operational and managerial tasks that also assist in delivering to the customer and company. Also you can read  Business Ethics Comprises The authors use two business examples to illustrate the process: Tata Group’s CPV for providing safer, inexpensive transportation and Hilti’s CVP for converting from commoditization of power tools to service provider through the leasing of power tools. After explaining the business model, the authors move forward to discuss understanding when a business model is needed. Although there are opportunities when a company can disrupt competitors by producing a product that is within their current model, a business must know when it is advantageous to create a new business model. The authors state that there are five strategic circumstances that require a change: 1) An opportunity to provide value for a group that is completely shut out of a market; 2) Capitalizing on a new technology by creating a business model around it; 3) Providing a â€Å"job-to-be-done† when it doesn’t exist yet; 4) Fending off low-end disrupters; and 5) Responding to a shift in the basis of competition. Additionally, the authors stress that venturing into a new business model should not be taken lightly and should be pursued only when the opportunity is large enough and â€Å"game-changing† enough to warrant it. At the conclusion of the article, the authors discuss Dow Corning as an example of a company creating a completely new business model independent of their existing model. Dow Corning discovered a need for a low cost product model and ultimately established Xiameter, which is starkly different from its original model. The authors also assert the need for trial and error and a willingness to revise as keys to creating a new business model. How to cite Summay: Reinventing Your Business Model, Papers