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Challenges of Integrated Accounting Systems
Quiz by Md. Shahed Mostafa Chowdhury
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New Trends in Agriculture Extension approaches Extension has been, and still is, under attack from a wide spectrum of politicians and economists over its cost and financing. As a result, Extension Systems have had to make changes, by restating the systemâs mission, developing a new vision for the future, and formulating plans for the necessary transition to achieve the desired change. 1. Privatization of Agricultural Extension Service Privatization: Process of funding and delivering the extension services by private individual or organization is called Private Extension. Concept: Privatization of extension refers to services rendered in rural area & allied aspects of extension personnel working in private agencies or organization for which farmers are expected to pay a fee & it can be viewed as supplementary or alternative to public extension services (Sarvanan & Shivalinge 1980). Privatization approaches âĸ Share cropping system âĸ Village extension contract system âĸ Public extension through private delivery âĸ Service for vouchers Strengths of Private Extension System âĸ More demand - driven rather than supply â driven âĸ High quality of services in terms of satisfying information needs of clientele, trained manpower, sustained finances and resource allocation âĸ Provides for an information mix and choices available to farmers âĸ Enhanced efficiency of staff âĸ Assure continuous supply and quality agricultural products âĸ More effective because farmer can select an adviser who is the best able to help âĸ Healthy competition among service provider will lead to better quality and lower costs for service Weakness of Private Extension System âĸ Concentrate on area having favorable physical environment âĸ More face-to-face contacts (person oriented) âĸ Increased dependence of farmers and hence exploitation âĸ No education role âĸ Deprivation of small farmers âĸ Hamper the free flow of information 2. Cyber Extension or e-extension Concepts Cyber space: it is the imaginary or virtual space of computers connected with each other on Networks, across the Globe. Cyber extension: it means 'using the power of online networks, computer communications and digital interactive multimedia to facilitate dissemination of agriculture technology. Cyber Extension thus can be defined as the extension over cyber space. Important tools of cyber extension E-Mail, Telnet, File Transfer Protocol (FTP), Gopher, Archie and World Wide Web (WWW) Strengths of Cyber Extension âĸ Access to the astounding information and continuously available âĸ Information rich and instantaneously available of information âĸ Interactive communication âĸ The information is available from any point on the globe âĸ Communication is dynamic âĸ Cut steps from traditional process âĸ Save money, time and effort âĸ Multiplicity of purpose Issues and Concerns of Cyber Extension âĸ Lack of Reliable Telecom Infrastructure in Rural Areas âĸ Erratic or no Power Supply âĸ Lack of ICT Trained manpower (willing to serve) in Rural Areas âĸ Lack of content (locally relevant and in local languages) âĸ Lack of Information Services to Rural Clientele âĸ Low Purchasing power of the Rural communities âĸ Lack of Holistic Approaches âĸ Issues of Sustainability Application of cyber extension âĸ Village information shops Dr. M.S. SwaminathanResearch Foundation, Chennai âĸ Information villagers MANAGE in Ranga Reddy District in Andhra pradesh âĸ Gyandoot net initiative of District Dhar, Madhya Pradesh. âĸ Warna wired village of National Informatics Center (NIC) in Kolhapur- Sangli Districts of Maharashtra 3. Market-Led-Extension (MLE) Concepts Market: A congregation of prospective buyers & sellers with a common motive of trading a particular commodity. Extension: It is the spreading/reaching out to the mass Market-led-extension: Agriculture & economics coupled with extension is the perfect blend for reaching at the door steps of common man with the help of technology. Dimensions of market-led extension âĸ Marketing mix: A planned mix of the controllable elements of a product's marketing plan commonly termed as 4Ps: product, price, place, and promotion. These four elements are adjusted until the right combination is found that serves the needs of the product's customers, while generating optimum income. âĸ Marketing plan: A marketing plan is a comprehensive document that outlines a business and marketing efforts for the coming year. It describes business activities involved in accomplishing specific marketing objectives within a set time frame. A marketing plan also includes a description of the current marketing position of a business, a discussion of the target market and a description of the marketing mix that a business will use to achieve their marketing goals. âĸ Market Intelligence: It is the information relevant to a companyâs markets, gathered and analyzed specifically for the purpose of accurate and confident decision making. Market intelligence includes the process of gathering data from the companyâs external environment, whereas the business intelligence process is primarily based on internal recorded events â such as sales, shipments and purchases. âĸ Market oriented production âĸ Use of Technology Strengths of market-led extension âĸ SWOT analysis of the market âĸ Organization of Farmersâ Interest Groups (FIGs) âĸ Enhancing the interactive and communication skills of the farmers âĸ Establishing marketing and agro-processing linkages âĸ Advice on product planning âĸ Educating the farming community âĸ Direct marketing âĸ Acquiring complete market intelligence âĸ Publication of agricultural market information Production of video films of success stories âĸ Challenges to market-led extension âĸ Gigantic size of extension system âĸ Information technology Diverse conditions âĸ Market intelligence âĸ Reforms in agricultural extension system Government Initiatives âĸ Central warehousing Corporation-1965 âĸ MSP by Commission for Agricultural Cost and Price (CACP) âĸ Food Corporation of India âĸ Then some others as: Cotton Corporation of India (CCI), Jute Corporation of India (JCI), National Dairy Development Board (NDDB), Agriculture and Processed food Export Development Authority (APEDA) etc. 4. Farmer--Led-Extension (FLE) Farmer--led-extension is defined as 'the provision of training by farmers to farmers, often through the creation of a structure of farmer promoters and farmer trainers' (Scarborough et al., 1997). Philosophy and principles âĸ Farmers and local institutions (e.g. producer organizations or village leaders) should play a key role in selecting farmer-trainers and monitoring and evaluating them. This helps make the programmes more accountable to the community or groups that they serve. âĸ Farmer-trainers are âof the communityâ; they communicate in local languages and are more sensitive to local cultures, mannerisms, farming practices, and farmersâ needs. âĸ Farmer-trainers should be selected on the basis of their skills and interest in sharing information, not just on their farming expertise. âĸ Farmer-trainers need strong linkages with and support from development agents (whether government, non-government organization (NGO), or private), the people who train and backstop them. Farmer-trainers generally serve as a complement to existing extension systems, rather than being a substitute for them. âĸ Facilitating organizations and local institutions need to be proactive in ensuring that women as well as men become farmer-trainers. âĸ Simple and appropriate reference materials should be made available to the farmer trainers. Essential Elements of Farmer--led-extension âĸ The group âĸ The Field âĸ The Facilitator âĸ The curriculum âĸ Programme leader âĸ Financing Special features of Farmer--led-extension âĸ All learning is field based & it is primary venue for learning âĸ FLE group learning constantly over the experimentation period âĸ FLE promotes healthy decisions & quality decisions âĸ Farmers conduct their own field studies with comparisons or treatments âĸ Facilitates Farmer-to-Farmer communication âĸ Field staff serve as facilitators âĸ FLE is a unique way to educate farmers âĸ It is an effective platform for sharing of experiences and collectively solving agriculture related problems. 5. Expert system Expert system is an intelligent computer program that uses knowledge and inferences procedures to solve problems (Daniel Hunt, 1986). Objectives of developing expert system âĸ To enhance the performance of agricultural extension personnel and farmer âĸ To make farming more efficient and profitable âĸ To reduce the time required in solving the problems âĸ To maintain the expert system by continuously upgrading the database Advantages of expert system âĸ Solves critical problems by making logical deductions without taking much time âĸ It combines experimental and conventional knowledge with the reasoning skills of specialists âĸ To enhance the performance of average worker to the level of an expert Limitations of expert system âĸ Expensive computer program âĸ Mostly developed not in regional languages âĸ Requires AC power and internet connection all the time âĸ Complex software requires computer skilled personnel Modules of expert system in agriculture âĸ COMAX: Integrated crop management in cotton âĸ SOYEX: Soybean oil extraction expert system âĸ PLANT/ds: Diagnosis of soybean diseases âĸ MAIZE: Maize expert system for field crop management âĸ SEMAGI: Weed control decision making in sunflowers âĸ Rice Crop Doctor: Developed by National Institute of Agricultural Extension Management (MANAGE) Difference between conventional and expert system of extension Conventional Extension âĸ Universal approachability of same information is a problem âĸ Information is given whatever is available without considering needs and resources âĸ No Cost benefit analysis âĸ Information flow depends on availability of agent âĸ Require users to draw their own conclusion from facts Expert System of Extension âĸ Universal approachability of same information is possible âĸ Information is chosen based on their needs and resources âĸ Cost benefit analysis âĸ Information through Cyber Cafe at any place at any time âĸ Conclusion is drawn based on the decision given by the expertCreate me a multiple choice test questions with 4 options on the following topic:Consumer Education for Different Audience 1. Children and Youth: - Focus: Building foundational knowledge about basic consumer concepts, making safe choices, understanding money and value, and recognizing scams and unsafe situations. 2. Teens and Young Adults: - Focus: Building financial literacy, responsible debt management, understanding contracts and agreements, responsible technology use, online safety, and consumer rights. 3. Working Adults and Families: - Focus: Managing budgets, making informed purchasing decisions, understanding credit and debt, finding consumer protection resources, and navigating complex financial products (mortgages, insurance, investments). 4. Seniors: - Focus: Protecting themselves from scams and fraud, understanding common consumer issues like telemarketing, identity theft, and online scams, managing medications and healthcare costs, and accessing community resources. 5. Special Populations: - Focus: Adapting consumer education programs to the specific needs of people with disabilities, immigrants, refugees, and other marginalized communities. 6. Business and Industry:- Focus: Understanding ethical marketing practices, complying with consumer protection laws, and providing clear and accurate information to consumers. 7. Policymakers and Regulators: - Focus: Understanding consumer needs, developing effective consumer protection laws, enforcing regulations, and ensuring a fair and competitive marketplace. Adapting consumer education programs for children, teens, and seniors requires tailoring content and delivery methods to their unique needs and learning styles. Children (Ages 5-12): - Understanding the concept of money: Teaching children about saving, spending, and the value of money. - Developing basic budgeting skills: Helping children learn to make choices about how to spend their allowance or pocket money. EFFECTIVE STRATEGIES âĸFocus on basic concepts: Introduce core concepts like saving, spending, and budgeting in a fun and engaging way. Use simple language and relatable examples. âĸReal-life scenarios: Use age-appropriate scenarios to illustrate financial concepts, like buying toys or snacks. âĸParental involvement: Encourage parent participation and provide resources to help them reinforce lessons at home. Teens (Ages 13-18): - Building budgeting and financial planning skills: Teaching teens how to manage their money, set financial goals, and plan for the future. - Navigating the digital marketplace: Equipping teens with the knowledge and skills to make safe and informed online purchases, understand digital marketing, and protect themselves from scams. EFFECTIVE STRATEGIES âĸ Practical skills: Focus on skills relevant to teens, like managing money for social activities, saving for college, and understanding credit cards. âĸ Digital literacy: Address the growing influence of online shopping, social media advertising, and financial scams. âĸ Real-world applications: Connect financial concepts to real-life decisions teens make, like choosing a part-time job or making purchases online. Seniors (Ages 65+) - Managing retirement savings and healthcare costs: Providing information and resources on retirement planning, Medicare and Medicaid, and other healthcare options. - Navigating the digital world: Offering technology training and resources to help seniors access online services and information safely and securely. EFFECTIVE STRATEGIES âĸ Addressing specific concerns: Focus on topics relevant to senior citizens, like retirement planning, managing healthcare expenses, and avoiding scams. âĸ Clear and concise communication: Use simple language and visual aids to ensure easy understanding. âĸ Social interaction: Create opportunities for seniors to share experiences and learn from each other. Teaching Financial Literacy in school and Communities In Schools: Curriculum Integration: Financial literacy concepts can be seamlessly integrated into existing subjects, making learning more relevant and engaging. - Math: Budgeting exercises, calculating interest rates, analyzing financial data, and understanding compound interest are all natural applications of math skills. - Social Studies: Exploring the history of money, financial institutions, economic systems, and the impact of financial decisions on society provide valuable context. - Economics: Discussions about supply and demand, inflation, investment, and the role of consumers in the economy enhance financial literacy. Dedicated Courses: Offering elective courses or workshops specifically focused on personal finance provides deeper dives into crucial topics. - Personal Finance: Cover budgeting, saving, investing, credit, debt management, and insurance. - Entrepreneurship: Introduce concepts like business planning, marketing, financial forecasting, and managing cash flow. In Communities: Community Centers and Libraries: Workshops, seminars, and classes tailored to adults and families provide accessible learning opportunities. - Financial Planning: Cover budgeting, retirement planning, debt management, and estate planning. - Homeownership: Provide guidance on buying, selling, and maintaining a home. - Consumer Protection: Educate individuals about their rights and how to avoid scams. Partnerships with Financial Institutions: Collaborations with banks, credit unions, and financial advisors offer valuable resources, workshops, and financial literacy programs. Consumer Education for Low-Income and Vulnerable Populations Low-income refers to individuals or households with limited financial resources, typically below a certain threshold. Low-income individuals may face challenges like: 1. Limited education and job opportunities 2. Poor living conditions and housing 3. Food insecurity and malnutrition Causes of low income: 1. Unemployment or underemployment 2. Low-paying jobs or minimum wage 3. Limited education or skills 4. Single parenthood or large family size Vulnerable population'' is a term that is used to describe a group of people who possess some sort of disadvantage. elderly people, people with low incomes, homeless people, people in prison, migrant workers, pregnant women, Family Consumer Education: Managing Household Finances and Resources Financial literacy is the ability to understand and manage personal finances effectively. 1. Debt Debt is money you spend that isnât yours. If you borrow money from the bank, use a credit card, or take out a short-term loan, or a payday loan, you are accumulating debt. Good debt is considered money borrowed for things that are absolutely necessary for making a life e.g. a house and for advancing your money-making potential e.g. an education. Bad debt is considered borrowing money or using a credit card to pay for things you donât need, such as expensive clothes, hi-tech electronics, eating out at restaurants, going on holidays, etc. 2. Saving Saving is an essential part of financial wellness, a secure present, and a happy future. 3. Budgeting Budgeting is the life skill of planning and managing your money. By understanding exactly where your money goes every month, you are empowered to create an actionable plan by which you can spend less, by curtailing those unnecessary expenses and saving more for the things you need and want. 4. Investing Investing is all about creating and growing the wealth you need to enjoy a financially secure and happy future. Itâs about putting your money into something that will make you a profit over time, such as property, retirement funds, and unit trusts Integrating Consumer Education into the Home Economics Curriculum. Integrating consumer education into the home economics curriculum can provide students with essential skills for making informed choices about their personal finances, food, clothing, and overall well-being. Here are some strategies and ideas for effectively incorporating consumer education: Financial Literacy Budgeting: Teach students how to create and manage a personal budget, including setting financial goals, tracking expenses, and understanding savings. Saving and Investment: Cover the basics of saving, including different saving accounts, and introduce concepts related to investing. Food and Nutrition Food Label Literacy: Engage students in learning how to read and interpret food labels, including nutrition facts and ingredient lists. Grocery Shopping Skills: Teach students how to compare product costs, understand unit pricing, and make healthy, budget-friendly choices while shopping. Clothing and Textile Education Consumer Choices in Clothing:Discuss factors influencing clothing purchases, such as quality, price, and sustainability. Fashion and Trends: Analyze the impact of marketing and advertising on consumer behavior regarding clothing. Sustainable Purchasing Eco-Friendly Choices: Raise awareness about environmentally friendly products and the importance of sustainability in consumer choices. Project-Based Learning - Assign real-life projects where students must apply their knowledge, such as creating a meal plan within a budget, planning a shopping list based on nutrient needs, or evaluating the cost-effectiveness of different products. Technology Integration - Use technology to teach students about online shopping, price comparison websites, and apps that aid budgeting and financial planning. Collaborative Learning Opportunities - Organize team projects where students work together to solve consumer-related problems, emphasizing teamwork and communication skills. Assessment and Reflection - Incorporate assessments that allow students to reflect on what they have learned about consumer education and how they can apply these skills in their daily lives. Economic integration Population and GDP of ASEAN Countries Population and GDP of ASEAN CountriesThe countries of ASEAN vary widely in population size and income level, yet nonetheless have achieved a high level of economic integration. ASEAN is considered to be one the developing worldâs most successful regional economic cooperation zones. Unlike its primary counterparts in the developed world, the European Union (EU) and the United StatesâMexicoâCanada Agreement (USMCA), ASEAN has followed a more gradual and flexible approach to integration, accommodating the diversity of its member states. ASEAN has prioritized trade liberalization, sustainable development, and attracting foreign investment over deepening political integration or adopting a common currency. ASEANâs economic integration efforts began with the creation of the ASEAN Free Trade Area (AFTA) in 1992, which successfully reduced tariffs between ASEANâs first six members (Brunei, Indonesia, Malaysia, the Philippines, Singapore, and Thailand) to 0â5 percent by 2002. Vietnam, Laos, Myanmar, and Cambodia were required to sign the AFTA agreement upon joining ASEAN. Today tariffs between ASEAN countries are close to zero. In 2007 the ASEAN Economic Community Blueprint was signed in Singapore with the goal of achieving four objectives by 2015: (1) create a single market and production base, (2) become a highly competitive economic region, (3) promote equitable economic development within the region, and (4) fully integrate the region into the global economy. The AEC was implemented in 2015, although approximately 20 percent of measures toward achieving a single market remain in progress and have been deferred to a new deadline of 2025. The ASEAN-Japan Comprehensive Economic Partnership (AJCEP) was implemented in 2008, and the ASEAN-China Free Trade Agreement (ACFTA) was implemented in 2010. In 2020 ASEAN joined Australia, China, Japan, New Zealand, and South Korea in signing the Regional Comprehensive Economic Partnership (RCEP), the largest trade agreement in history. Get Unlimited Access Try Britannica Premium for free and discover more. Significant challenges remain for ASEANâs economic integration, including pervasive nontariff barriers, restrictive investment measures, and vast disparities in GDP per capita. Domestic issues such as political instability and corruption in member states exacerbate these challenges. The COVID-19 pandemic created severe economic disruption in sectors such as industrial production and tourism; nonetheless, ASEAN coordinated a regional response to align economic recovery strategies and maintain open trade routes. Ultimately, ASEAN has demonstrated an exemplary and ongoing commitment to strengthening cooperation and integration and maximizing the regionâs economic potential.The outdoor recreation industry represents a new economy. The leaders of this economy will need to have a deep understanding of our local natural resources and integrate the components of innovation, health, and wellness into a vision for what comes next. Everyone wins when you do the right things for the environment, the community, and the venture. We want to offer the young generation a chance to be part of the foundation we are building for adventure tourism in the emirates and the region. Adventure Tourism Is the Fastest-Growing Global Niche. What does this mean? It means that thereâs plenty of room for young experts to enter the field. Itâs not just the "guides" that the adventure tourism industry needs. Itâs everything that goes with it, from adventure tourism accommodations to trip planners, event managers, marketing and finance directors, advertising, public relations, and communications. We want to highlight that adventure tourism requires more than just guides, and various careers within adventure tourism play a big role in attracting high-value customers, supporting local economies, and encouraging sustainable practices. The continued growth of this sector creates net positive impacts not only for tourism, but also for destination economies, their people, and their environment. 1) Understanding Tourism Tourism is one of the worldâs fastest-growing industries and a major foreign exchange and employment generation for many countries. It is one of the most remarkable economic and social phenomena. 2) Understanding Adventure Tourism Adventure tourism is defined as the movement of the people from one to another place outside their comfort zone for exploration or travel to remote areas, exotic and possibly hostile areas. Adventure tourism is a type of tourism in which tourists engage in adventure activities such as trekking, climbing, rafting, scuba diving, or the likes. Adventure tourism gains much of its excitement by allowing the tourist to step outside their comfort zone. This may be from experiencing culture shock or through the performance of acts that required some degree of risk whether real or perceived. It is also about connecting with a new culture or a new landscape and being physically active at the same time. It is not only about being risky or pushing your boundaries. In fact, it is especially important to know and respect your limits while you are in an unfamiliar area. Adventure travel is a leisure activity that takes place in an unusual, exotic, remote, or wilderness destination. It tends to be associated with high levels of activity by the participant, most of it outdoors. Adventure tourists expect to experience various levels of risk, excitement, and tranquillity and be personally tested. In particular, they are explorers of unspoiled, exotic parts of the planet and also seek personal challenges. The main factor distinguishing adventure tourism from all other forms of tourism is the planning and preparation involved. 3) Definitions of Adventure Tourism Adventure tourism is a new concept in the tourism industry. The tourism industry adopted adventure tourism, but there is not any specific definition of adventure tourism. Most commentators concur that adventure tourism is a niche sector of the tourism industry, but there are many other niche sectors in tourism that have the same characteristics that overlap with adventure tourism such as ecotourism, activity tourism, or adventure travel. One of them can confuse. Adventure tourism is a complicated and ambiguous topic. Some important definitions of adventure tourism are as following: A) According to the Adventure Travel Trade Association (ATTA): âadventure tourism is a tourist activity that includes physical activity, cultural exchange, or activities in nature.â B) According to Muller and Cleaver: âAdventure tourism is characterized by its ability to provide the tourist with relatively high levels of sensory stimulation, usually achieved by including physically challenging experiential components with the tourist experience.â C) The Canadian Tourism Commission in 1995 defines adventure tourism as: âan outdoor leisure activity that takes place in an unusual, exotic, remote or wilderness destination, involves some form of unconventional means of transportation, and tends to be associated with low or high levels of activity.â D) According to Sung et al: âadventure tourism is the sum of the phenomena and relationships arising from the interactions of adventure touristic activities with the natural environment away from the participantâs usual place of residence area and containing elements of risk in which the outcome is influenced by the participation, setting, and the organizer of the touristâs experience.â E) According to UNWTO: â adventure tourism can be domestic or international, and like all travel, it must include an overnight stay, but not last longer than one year.â 4) Types of Adventure Tourism Adventure tourism has grown exponentially all over the world in recent years with tourists visiting destinations previously undiscovered. This allows for new destinations to market themselves as truly unique, appealing to those travellers looking for a rare, incomparable experience. Adventure tourism includes various activities like caving, hiking, sailing, trekking, etc. Adventure tourism is categorized into two categories: âĸ Hard Adventure âĸ Soft Adventure Hard Adventure Hard adventure refers to activities with high levels of risk, requiring intense commitment and advanced skills. Hard tourism includes the activities like climbing mountains/rock/ice, trekking, caving, etc. Hard adventure activities are highly risked in nature. Professional guides and advanced levels of skills are required to perform these activities. Many tourists died during climbing mountains, caving every day. Soft Adventure Soft adventure refers to activities with a perceived risk but low levels of risk, requiring minimal commitment and beginner skills; experienced guides lead most of these activities. Soft tourism includes the activities like backpacking, camping, hiking, kayaking, etc. Soft adventure activities are low-risk in nature. Professional guides lead these activities. Soft adventure is a popular category in adventure tourism as it caters to a wider audience. 5) Adventure Tourism Activities Adventure travellers are early adopters by nature, meaning they are generally more willing to try new destinations, activities, and travel products. Popular activities change rapidly, and it seems there is a new twist on an existing sport every year. Some activities have low risk and some have high. Adventure tourism activities are classified into two types: âĸ Hard Adventure Activities âĸ Soft Adventure Activities Hard Adventure Activities Hard adventure activities are highly risky and dangerous in nature. These activities are as the following: âĸ Caving âĸ Mountain Climbing âĸ Rock Climbing âĸ Ice Climbing âĸ Trekking âĸ Sky Diving Soft Adventure Activities These activities are less dangerous and risk as compared to hard adventure activities. These activities are mostly lead by professional guides. An example of these activities are: âĸ Backpacking âĸ Bird watching âĸ Camping âĸ Canoeing âĸ Eco-tourism âĸ Fishing âĸ Hiking âĸ Horseback riding âĸ Hunting âĸ Kayaking/sea/whitewater âĸ Orienteering âĸ Safaris âĸ Scuba Diving âĸ Snorkeling âĸ Skiing âĸ Snowboarding âĸ Surfing Adventure tourism activities sit well with the environment because the natural world provides us with the resources for many of the activities that provide risk, challenge, sensory stimulus, novelty, discovery, and so on. 6) Characteristics and Features of Adventure Tourism The threefold combination of activity, nature, and culture marks adventure travel as an all-around challenge. Some unique characteristics and features of adventure tourism are as the following: âĸ Physical activity, like involving physical exertion or psychomotor skills âĸ Contact with nature, activities bringing contact with the natural world in general, or with specific wildlife âĸ Contact with different cultures, i.e. people, faith, lifestyles âĸ Journeys for example vehicle, animal, or human power âĸ Uncertain outcomes âĸ Danger and risk âĸ Challenges âĸ Anticipated rewards âĸ Novelty âĸ Stimulation and excitement âĸ Exploration and discovery âĸ Contrasting emotions 7) Adventure Tourism Supplier A tourism supply chain is the system of people, products, activities, and materials that get a product or service from its raw state through production and distribution to the consumer. As with any sector, volume discounts drive the mass price point, so major retailers primarily market select trips that sell in high volume. The supply chain for these mass tourism products is often very simple, comprising only transportation and accommodation elements. The adventure tourism supply chain is more complex. Niche products often require specializes in knowledge and operations. Adventure tourismâs supply chain linkages go very deep, and this is one of the key reasons that adventure tourism delivers greater benefits at the local level. Supply chains vary from destination to destination. Without a proper supply chain, the tourism sector cannot survive. Tourism suppliers are the backbone of the tourism industry. Adventure tourism suppliers work at a different, different level like as domestic as well international level. 8) Adventure Tourism Importance and Benefits Adventure tourism is one of the fastest-growing sectors of the tourism sector, attracting high-value customers, supporting local economies, and encouraging sustainable practices. The continued growth of this sector creates net positive impacts not only for tourism, but also for destination economies, their people, and their environment. Some importance and benefits of adventure tourism are: A) Employment Generation Adventure tourism generates jobs. Adventure tourism generates directs jobs to accommodation, transportation sector, and travel agencies or tour operators. Adventure tourism also provides indirect jobs to tourism suppliers. Adventure tourism plays an important role in the generation of employment in the economy. B) Foreign Exchange Adventure tourism attracts foreign tourists on a large scale, as a result, it helps in foreign exchange generation. When tourists travel to another country, they spend a large amount of money on accommodation, transportation, and shopping. Adventure tourism generates foreign exchange and supports the economy of the host country. C) Economy Development Adventure tourism helps in the development of the host countryâs economy. Adventure tourism activities directly support the economy in various forms. The more tourists, the more economic growth. D) Support Local Communities Adventure tourism helps in the development of infrastructure and supports local communities. Adventure tourism activities directly contributed to the local economy of the communities and increase local people's living standards. E) Conservation of Natural Resources Adventure tourism activities are nature-based activities. Leaders in the adventure tourism industry are dedicated to making this tourism segment as sustainable as possible. They help in the conservation of natural resources as well as culture. F) Creating Business Opportunities Adventure tourism activities create new business opportunities. Several companies specialize in helping emerging adventure tourism operators market their products. Each new adventure tourism activity creates a new business opportunity. G) Local and Foreign Investment Adventure tourism creates business opportunities; as a result, it attracts local as well as international investors. Investors invest their money in accommodation, transportation, and travel trade organization. Adventure tourism plays an important role in the economy of the host country.Challenges of the 1970s (18-1)Challenges of Parenting & Toddler DevelopmentThe challenges of the schools in tagging learners in the inclusion programs of the LISThe Challenges of the New Nation - Starter Quiz