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Executive Summary

The liberalisation of the ASEAN air transportation sector has increased tremendous
competition in the business approaches of Air carriers and Passenger traffic. This research
work is about the process of understanding the act of liberalisation through the Open Sky
policy and analyse the same in terms of the increasing competition in the selected domains.
For this purpose the Case Study research methodology has been selected as the appropriate
means of meeting the answers to the research questions. Moreover, interview sessions with
experienced professionals from the aviation sector are also considered by this research work.
The basic idea is to know the competitive advantages and the disadvantages led by
liberalisation in the business approaches of air carriers and passenger traffic in ASEAN
region. The data collected for CAPA (2016) will also be analysed in justification of growth
that the liberalisation has added to the aviation sector. The way to control the activity of
liberalisation for better benefit of the ASEAN aviation sector will remain as core target of
this research work.

Executive Summary

The liberalisation of the ASEAN air transportation sector has increased tremendous
competition in the business approaches of Air carriers and Passenger traffic. This research
work is about the process of understanding the act of liberalisation through the Open Sky
policy and analyse the same in terms of the increasing competition in the selected domains.
For this purpose the Case Study research methodology has been selected as the appropriate
means of meeting the answers to the research questions. Moreover, interview sessions with
experienced professionals from the aviation sector are also considered by this research work.
The basic idea is to know the competitive advantages and the disadvantages led by
liberalisation in the business approaches of air carriers and passenger traffic in ASEAN
region. The data collected for CAPA (2016) will also be analysed in justification of growth
that the liberalisation has added to the aviation sector. The way to control the activity of
liberalisation for better benefit of the ASEAN aviation sector will remain as core target of
this research work.

1.1 Background Overview
The ASEAN Single Aviation Market, or as popularly termed as ASEANSAM is the ASEAN
Open Sky policy, which gets recognised as the most major policy of this particular region.
Based on this policy, ASEANSAM geared up all the developmental approaches and further
aimed in enhancing the unified as well as the market of single aviation business among the
ASEAN members. According to the report of Tan (2009), the initial proceedings of
ASEANSAM for the Southeast Asian members date back to 1 st of Jan., 2016. The Air
Transport Working Group of ASEAN proposed the policy of ‘Open Sky’ in the aviation
domain, and the same was supported by Senior Transport Officials. Moreover, ASEAN
Transport Ministers endorsed it.
The research based declarations of Chinaview (2007) and Tan (2009) state that the
establishment of ASEANSAM was initiated with the aim to establishment the strong hold of
ASEAN Economic Community, whereby it was expected to get accomplished by the activity
of liberalization and air travel business among the ASEAN members. The approach of the
‘Open Sky’ policy is to offer direct benefits to the aviation sector and add the element of
growth and sustainability in the business of air travel in the global sky. This policy is also
meant to establish free tourism related services, ventures of trade and commerce, and assist in
high quality based services to all the ASEAN member state
s (Chinaview, 2007 and Tan,
2009).

1.2 Problem Formulation
The problem that this research laid emphasis on- is about the clashes of policies and
agreements that are liable to happen between the aviation services of the ASEAN member
state. Based on the investigative research of Forsyth, et al. (2004) and Forsyth & Rodolfo

5

Liberalisation in Aviation: ASEAN Open Sky Page 5
(2006), this research concentrates in gaining the key towards progressive solution to the
probable clashes. It also is in pursuit of attaining adequate amount of resolution in the
implementation of liberalisation to the aviation industry under the regulations of ‘Open Sky’.
The problem with the air traffic liberalisation among the capital cities, the ASEAN members
are subject to get into the competition of holding unified aviation principles and at the same
time designate individual competitive approaches, hence the current research approach.

1.3 Research Questions
Keeping in consideration with the aforementioned problem formulation, the current research
has attained some questions in terms of understanding the challenging competitive platform
between the air carriers and passenger traffic, while implementing and developing ‘Open
Sky’ policy, by the ASEAN liberalisation of aviation sector. These are the research questions
are as follows:

  1. What is the process of liberalisation of the air transportation system in the region?
  2. How does liberalisation of the air transportation system create an impact on the
    competition between air carriers and passenger traffic?
  3. What is the impact of air transport liberalisation on competition between air carriers
    and passenger traffic in ASEAN region?
  4. What are the recommendations provided to appropriate entities for controlling
    liberalisation of the air transportation system that creates an impact on the competition
    between air carriers and passenger traffic in ASEAN region?
    The selection of these questions are meant for the understanding of the ‘Open Sky’ policy
    and the impact that the same as on the futuristic approaches of air carriers and passenger

6

Liberalisation in Aviation: ASEAN Open Sky Page 6
traffic among the ASEAN members. Moreover, these are the questions that are further
considered in adding research objectives to the current paper and are mentioned hereafter.

1.4 Research Objectives
This research paper aims in gaining the insight into the liberalisation of Aviation in the
peripheral count of ‘Open Sky’ venture noted by ASEAN. Diversified aspects, especially the
concerns of capacity deregulation, along with the approach on the process of implementing
price related controls, will be investigated hereby. This research work will focus in
understanding all sorts of different agreements and policies, counted as per geographic as
well as functional dimensions in the competitive arena of air carriers and passenger traffic,
for the meeting the liberalisation approaches as noted by the formulations of ASEAN ‘Open
Sky’. The core objectives of this research paper are as follows-
 To gain adequate critical information about the relevance of liberalisation through
‘Open Sky’ by ASEAN.

To understand the challenges and the issues related to the developmental approach of
ASEAN air carriers.
 To understand the challenges and the issues related to the developmental approach of
ASEAN passenger traffic.
 To identify the competitive stress among the air carriers & passenger traffic, caused
by liberalised ‘Open Sky’.
 To figure out the possible resolutions in offering better competitive edge to ASEAN
air carriers and passenger traffic.
1.5 Research Rationale
The rationale behind this research work, is to gain a critically analysed understanding of the

liberalisation of ASEAN aviation sector and to point out the impact of ‘Open Sky’ policy

over the ASEAN air carriers and passenger traffic. As this gets initiated this research paper
aims in offering resolution to the increasing competitive stress between the air carriers and
passenger traffic of the ASEAN members. The chief purpose is to derive all those proceeding
through which this research can aim in generating the positive aspects of liberalisation and
eventually add a comfort level to the international competitive platform of aviation industry.

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Title: Cryptocurrency and Blockchain Technology: Revolutionizing the Financial
Landscape
Introduction:
Cryptocurrencies and blockchain technology have emerged as significant disruptors to the
financial industry, revolutionizing how we transact and store value. This article examines the
considerable impact of cryptocurrencies and their underlying blockchain technology,
highlighting their potential to transform the financial landscape. This article is not a
dissertation, dissertation, or research paper but provides an overview of the topic using the
keywords mentioned.
Understanding Cryptocurrencies:
Cryptocurrencies such as Bitcoin, Ethereum, and Ripple have received much attention due to
their decentralized nature and the security and privacy they offer (Smith, 2019). Unlike
traditional currencies, cryptocurrencies use cryptography to secure transactions and control
the creation of new entities. Cryptocurrencies operate on a decentralized blockchain network,
providing a transparent and immutable ledger of all transactions (Nakamoto, 2008).
Innovative blockchain technology:
Blockchain technology is the foundation of cryptocurrencies, enabling secure and transparent
transactions (Buterin, 2013). It is a distributed ledger that organizes transactions into blocks
and adds them to the chain chronologically (Antonopoulos, 2014). This decentralized
approach eliminates the need for intermediaries such as banks, enabling faster and cheaper
transactions (Tapscott & Tapscott, 2016).
Application:
The potential applications of blockchain technology go beyond finance. Dissertations,
dissertations, and research papers explore its scalability, implications for financial markets,
and potential in non-financial areas such as supply chain management and healthcare (Jones,
2020). The ability to create secure and transparent systems has the potential to transform
various industries, increasing efficiency and trust (Swan, 2015).
Cryptocurrencies as fixed assets:
Virtual currency is also attracting attention as an investment asset. However, it is essential to
consider their inherent volatility and associated risks (Sornette, 2017). Thorough research and
analysis are required to tackle the complexity of this emerging market. Several research
papers have explored the behavior of cryptocurrencies as investment assets (Smith, 2019).
Conclusion:
Cryptocurrencies and blockchain technology are revolutionizing the traditional financial
system, providing a secure, transparent, decentralized alternative for transactions and value
storage. This article is not a dissertation, dissertation, or research paper but provides an
overview of the topic using the keywords mentioned. As researchers continue to explore the
possibilities and challenges of cryptocurrency and blockchain technology, keeping a close

eye on their impact and progress is essential. The transformative power of these innovations
bodes well for the future of finance and beyond.  
Key Words: Cryptocurrency, Blockchain technology, Dissertation, Thesis, Research paper,
Decentralization, Financial markets
References:
Antonopoulos, A. M. (2014). Mastering Bitcoin: Unlocking Digital Cryptocurrencies.
O’Reilly Media.
Buterin, V. (2013). Ethereum: A Next-Generation Smart Contract and Decentralized
Application Platform. White Paper.

Classification: Public

Jones, R. (2020). Blockchain and the Supply Chain: Concepts, Strategies, and Practical
Applications. Routledge.
Nakamoto, S. (2008). Bitcoin: A Peer-to-Peer Electronic Cash System. White Paper.
Smith, J. (2019). Cryptocurrency: The Future of Money? Routledge.

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Assignment Task 1: Strategic Supply Chain
Management and Logistics

LO1. Understand the relationship between supply chain management (SCM) and
organizational business objectives
1.1 What are the organizational objectives of Meditech Surgicals? Explain the
importance of an effective supply chain management in achieving the organizational
objectives at Meditech Surgicals. (Assessment Criteria 1.1: Explain the importance
of effective supply chain management in achieving organizational objectives)
The organizational objectives of Meditech Surgicals are:

  • To be a leader in the endoscopic surgical instrument market.
  • To deliver cost effective and innovative endoscopy surgical instruments to
    hospitals on time
  • To provide the best customer service to domestic and international customers
    Supply chain management plays an important role in achieving the organizational
    objectives. It aims to link all the supply chain agents to jointly cooperate within the firm
    as a way to maximize productivity in the supply chain and deliver the most benefits to all
    related parties (Finch 2006). It helps organization to stay competitive in the market by
    outsourcing its non core functions and focusing on the core competencies. It allows
    organizations to rejig their entire operations and reframe it so that they operate at lower
    costs and maximize profit margins. For being a market leader, an organization must re-
    look the whole process and determine which processes can be downsized or upscaled for
    maximum competitive advantage. The main reason and objective of SCM is to provide a
    strategic weapon to build up and enhance sustainable competitive advantage by cost
    reduction without compromising customer satisfaction (Mentzer et al. 2001). When the
    organization reduces cost and maximizes value, products and processes become more
    innovative. This results in effective mass customization and improves product life cycles.
    Thus, the organization is powered well to cater to varied market segments and customer
    choices.

1.2 What are the prime business functions of Meditech Surgicals? Explain the link
between supply chain management and business functions in Meditech Surgicals.
(Assessment Criteria 1.2: Explain the link between supply chain management and
business functions in an organization)
The prime business functions of Meditech Surgicals are:

  • Forecast demands and procure raw materials accordingly
  • Produce high end and innovative endoscopical surgical equiments
  • Deliver and distribute the equipments in a timely fashion and maintain
    sufficient inventory
  • Enhance profitability by catering to varied demands
    The supply chain constitutes of the total process ranging from obtaining raw materials
    through all suppliers to delivering the end product to the consumer. Supply Chain is the
    total chain of exchange from original source of raw material, through various firms
    involved in extracting and processing raw materials, manufacturing, assembling,
    distributing, and retailing to end customers (Saunders, 1997). Each step of the process
    adds value to the end product thereby making it a value chain. Thus it touches upon each
    of the business function by exchanging value addition. Business functions which are
    closely linked to supply chain management are: demand forecasting, production planning,
    raw material procurement, production of finished goods, storage and distribution,
    transportation, and order management. With an effective SCM, the organization will
    always have the right inventory holding and this eliminates the need for safety stock.
    Right from procurement of raw materials from suppliers to delivering finished goods to
    end consumer, an effective Supply chain management makes all the business functions
    efficient and cost effective.
    1.3 Discuss the key drivers for achieving an integrated supply chain strategy in
    Meditech Surgicals? (Assessment Criteria 1.3: Discuss the key drivers for achieving
    an integrated supply chain strategy in an organization)
    Supply Chain Management is an integrating philosophy to manage the total flow of a
    distribution channel from supplier to ultimate customer (Ellrarn & Cooper, 1993). The
    key drivers for achieving an integrated supply chain strategy in Meditech surgicals are:

An efficient customer service management process: Customer service
management is vital to the success of any organization since it acts as an
important source of customer information and satisfaction. On the other hand,
the customer also gets accurate information on new products and their
availability through interactiion with the production and distribution
functions.

  • Well co-ordinated procurement: Demand forecasting reports are shared
    with suppliers to assist the manufacturing process and new product
    development. This results in a reduced product development cycles and
    effective inventory management. With the advent of technology, e commerce
    interactive portals can help suppliers stay updated on the upcoming demands.
  • Innovative product development and customization: Integration of
    suppliers and customers into this process is paramount. This reduces
    production cycle times and the products reach faster to the market. This gives
    a lot of time for effective customization of the products to meet the varied
    customer needs.
  • Manufacturing and distribution: A flexible and adaptive manufacturing
    process is needed to meet the ever changing demands for quantities and mass
    customizations. When the manufacturing cycles are shortened, products are
    delivered faster and lead to better customer satisfaction. The finished products
    reach the distributors in a shorter period of time and hence they too don’t find
    it necessary to do panic ordering.
  • Warehousing: The concept of decentralized warehousing assists in timely
    distribution by reducing wait times and transportation delays. However, it is
    imperial to enhance communications between distributors, regional
    warehouses and the central warehouse so that demand forecasting and
    delivery are accurate and there are no cases of inflated demands which cause
    unnecessary load on production processes.

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