BENEFITS OF MARKET IMPACTS. Business & Marketing Essay (Essay Sample)

BENEFITS OF MARKET IMPACTS
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Introduction
The financial and commodities markets of the world have been experiencing tumultuous changes in the last decade. In the last 3 years particularly, the world oil markets have witnessed sustained reduced product prices due to an oversupply in the markets. The Kingdom of Saudi Arabia is the world’s largest exporter of Crude oil and its economy is inevitably tied to oil production. The benefits of market impacts can be classified as social, economic, and environmental which are further categorized as market and nonmarket impacts. This paper highlights the benefits of market impacts in the Kingdom of Saudi Arabia. The benefits of market impacts include; increased sales due to increased market demand, increased prices due to quality and reputation, reductions in costs due to increased efficiencies, increased productivity, and reduced future costs related to environmental cleanup, internal controls and ethics breach.