Saudi Arabia the Kingdom of Saudi Arabia, is a country in Western Asia constituting the bulk of the Arabian Peninsula. With a land area of 2,150,000 km2, Saudi Arabia is geographically the largest sovereign state in the Middle East, the second-largest in the Arab world, the fifth-largest in Asia, the 12th-largest in the world. Saudi Arabia is bordered by Jordan and Iraq to the north, Kuwait to the northeast, Qatar and the United Arab Emirates to the east, Oman to the southeast and Yemen to the south, it is the only nation with both a Red Sea coast and a Persian Gulf coast, most of its terrain consists of arid desert and mountains. As of October 2018, the Saudi economy was the largest in the Middle East and the 18th largest in the world. Saudi Arabia enjoys one of the world's youngest populations; the territory that now constitutes Saudi Arabia was the site of several ancient cultures and civilizations. The prehistory of Saudi Arabia shows some of the earliest traces of human activity in the world.
The world's second-largest religion, emerged in modern-day Saudi Arabia. In the early 7th century, the Islamic prophet Muhammad united the population of Arabia and created a single Islamic religious polity. Following his death in 632, his followers expanded the territory under Muslim rule beyond Arabia, conquering huge and unprecedented swathes of territory in a matter of decades. Arab dynasties originating from modern-day Saudi Arabia founded the Rashidun, Umayyad and Fatimid caliphates as well as numerous other dynasties in Asia and Europe; the area of modern-day Saudi Arabia consisted of four distinct regions: Hejaz and parts of Eastern Arabia and Southern Arabia. The Kingdom of Saudi Arabia was founded in 1932 by Ibn Saud, he united the four regions into a single state through a series of conquests beginning in 1902 with the capture of Riyadh, the ancestral home of his family, the House of Saud. Saudi Arabia has since been a totalitarian absolute monarchy a hereditary dictatorship governed along Islamist lines.
The ultraconservative Wahhabi religious movement within Sunni Islam has been called "the predominant feature of Saudi culture", with its global spread financed by the oil and gas trade. Saudi Arabia is sometimes called "the Land of the Two Holy Mosques" in reference to Al-Masjid al-Haram and Al-Masjid an-Nabawi, the two holiest places in Islam; the state's official language is Arabic. Petroleum was discovered on 3 March 1938 and followed up by several other finds in the Eastern Province. Saudi Arabia has since become the world's second largest oil producer and the world's largest largest oil exporter, controlling the world's second largest oil reserves and the sixth largest gas reserves; the kingdom is categorized as a World Bank high-income economy with a high Human Development Index and is the only Arab country to be part of the G-20 major economies. The state has attracted criticism for a multitude of reasons including but not limited to: its archaic treatment of women, its excessive and extrajudicial use of capital punishment, state-sponsored discrimination against religious minorities and atheists, its role in the Yemeni Civil War, sponsorship of Islamic terrorists, its strict interpretation of Sharia Law.
An autocratic monarchy, the kingdom has the world's third-highest military expenditure and, according to SIPRI, was the world's second largest arms importer from 2010 to 2014. Saudi Arabia is considered a middle power. In addition to the GCC, it is an active member of the Organisation of Islamic Cooperation and OPEC. Following the unification of the Hejaz and Nejd kingdoms, the new state was named al-Mamlakah al-ʻArabīyah as-Suʻūdīyah by royal decree on 23 September 1932 by its founder, Abdulaziz Al Saud. Although this is translated as "the Kingdom of Saudi Arabia" in English, it means "the Saudi Arab kingdom", or "the Arab Saudi Kingdom"; the word "Saudi" is derived from the element as-Suʻūdīyah in the Arabic name of the country, a type of adjective known as a nisba, formed from the dynastic name of the Saudi royal family, the Al Saud. Its inclusion expresses the view. Al Saud is an Arabic name formed by adding the word Al, meaning "family of" or "House of", to the personal name of an ancestor.
In the case of the Al Saud, this is the father of the dynasty's 18th-century founder, Muhammad bin Saud. There is evidence that human habitation in the Arabian Peninsula dates back to about 125,000 years ago, it is now believed that the first modern humans to spread east across Asia left Africa about 75,000 years ago across the Bab-el-Mandeb connecting the Horn of Africa and Arabia. The Arabian peninsula is regarded as a central figure in our understanding of hominin evolution and dispersals. Arabia underwent an extreme environmental fluctuation in the Quaternary that led to profound evolutionary and demographic changes. Arabia has a rich Lower Paleolithic record, the quantity of Oldwan-like sites in the region indicate a significant role that Arabia had played in the early hominin colonization of Eurasia. In the Neolithic period, prominent cultures such as al-Magar whose epicenter lay in mod
Houston is the most populous city in the U. S. state of Texas and the fourth most populous city in the United States, with a census-estimated population of 2.312 million in 2017. It is the most populous city in the Southern United States and on the Gulf Coast of the United States. Located in Southeast Texas near Galveston Bay and the Gulf of Mexico, it is the seat of Harris County and the principal city of the Greater Houston metropolitan area, the fifth most populous metropolitan statistical area in the United States and the second most populous in Texas after the Dallas-Fort Worth MSA. With a total area of 627 square miles, Houston is the eighth most expansive city in the United States, it is the largest city in the United States by total area, whose government is not consolidated with that of a county or borough. Though in Harris County, small portions of the city extend into Fort Bend and Montgomery counties. Houston was founded by land speculators on August 30, 1836, at the confluence of Buffalo Bayou and White Oak Bayou and incorporated as a city on June 5, 1837.
The city is named after former General Sam Houston, president of the Republic of Texas and had won Texas' independence from Mexico at the Battle of San Jacinto 25 miles east of Allen's Landing. After serving as the capital of the Texas Republic in the late 1830s, Houston grew into a regional trading center for the remainder of the 19th century; the arrival of the 20th century saw a convergence of economic factors which fueled rapid growth in Houston, including a burgeoning port and railroad industry, the decline of Galveston as Texas' primary port following a devastating 1900 hurricane, the subsequent construction of the Houston Ship Channel, the Texas oil boom. In the mid-20th century, Houston's economy diversified as it became home to the Texas Medical Center—the world's largest concentration of healthcare and research institutions—and NASA's Johnson Space Center, where the Mission Control Center is located. Houston's economy has a broad industrial base in energy, manufacturing and transportation.
Leading in healthcare sectors and building oilfield equipment, Houston has the second most Fortune 500 headquarters of any U. S. municipality within its city limits. The Port of Houston ranks first in the United States in international waterborne tonnage handled and second in total cargo tonnage handled. Nicknamed the "Space City", Houston is a global city, with strengths in culture and research; the city has a population from various ethnic and religious backgrounds and a large and growing international community. Houston is the most diverse metropolitan area in Texas and has been described as the most racially and ethnically diverse major metropolis in the U. S, it is home to many cultural institutions and exhibits, which attract more than 7 million visitors a year to the Museum District. Houston has an active visual and performing arts scene in the Theater District and offers year-round resident companies in all major performing arts; the Allen brothers—Augustus Chapman and John Kirby—explored town sites on Buffalo Bayou and Galveston Bay.
According to historian David McComb, "he brothers, on August 26, 1836, bought from Elizabeth E. Parrott, wife of T. F. L. Parrott and widow of John Austin, the south half of the lower league granted to her by her late husband, they paid $5,000 total, but only $1,000 of this in cash. They lobbied the Republic of Texas Congress to designate Houston as the temporary capital, agreeing to provide the new government with a capital building. About a dozen persons resided in the town at the beginning of 1837, but that number grew to about 1,500 by the time the Texas Congress convened in Houston for the first time that May. Houston was granted incorporation with James S. Holman becoming its first mayor. In the same year, Houston became the county seat of Harrisburg County. In 1839, the Republic of Texas relocated its capital to Austin; the town suffered another setback that year when a yellow fever epidemic claimed about one life out of every eight residents. Yet it persisted as a commercial center, forming a symbiosis with Galveston.
Landlocked farmers brought their produce to Houston, using Buffalo Bayou to gain access to Galveston and the Gulf of Mexico. Houston merchants profited from selling staples to farmers and shipping the farmers' produce to Galveston; the great majority of slaves in Texas came with their owners from the older slave states. Sizable numbers, came through the domestic slave trade. New Orleans was the center of this trade in the Deep South. Thousands of enslaved blacks lived near the city before the American Civil War. Many of them near the city worked on sugar and cotton plantations, while most of those in the city limits had domestic and artisan jobs. In 1840, the community established a chamber of commerce in part to promote shipping and navigation at the newly created port on Buffalo Bayou. By 1860, Houston had emerged as a commercial and railroad hub for the export of cotton. Railroad spurs from the Texas inland converged in Houston, where they met rail lines to the ports of Galveston and Beaumont.
During the American Civil War, Houston served as a headquarters for General John Magruder, who used the city as an organization point for the Battle of Galveston. After the Civil War, Houston businessmen initia
Saudi Aramco the Saudi Arabian Oil Company, is a Saudi Arabian national petroleum and natural gas company based in Dhahran, Saudi Arabia. It is one of the largest companies in the world by revenue, according to accounts seen by Bloomberg News, the most profitable company in the world. Saudi Aramco has both the world's second-largest proven crude oil reserves, at more than 270 billion barrels, second-largest daily oil production. Saudi officials have backed an official figure of $2 trillion for Saudi Aramco's value; the company's financial data were leaked in April 2018, according to Bloomberg's analysts the company could be valued at $1.2 trillion, a lower sum. Saudi Aramco operates the Master Gas System, its 2013 crude oil production total was 3.4 billion barrels, it manages over one hundred oil and gas fields in Saudi Arabia, including 288.4 trillion standard cubic feet of natural gas reserves. Saudi Aramco operates the Ghawar Field, the world's largest onshore oil field, the Safaniya Field, the world's largest offshore oil field.
On 09 April 2019, Aramco has raised $12 billion of bonds. Its first international bond issue has received more than $100 billion in orders from foreign investors which breaks all records for a bond issue by an emerging market entity. Saudi Aramco's origins trace to the oil shortages of World War I and the exclusion of American companies from Mesopotamia by the United Kingdom and France under the San Remo Petroleum Agreement of 1920; the US administration at the time had popular support for an "Open Door policy", which Herbert Hoover, secretary of commerce, initiated in 1921. Standard Oil of California was among those US companies seeking new sources of oil from abroad. Through its subsidiary company, the Bahrain Petroleum Co. SoCal struck oil in Bahrain in May 1932; this event heightened interest in the oil prospects of the Arabian mainland. On 29 May 1933, the Saudi Arabian government granted a concession to SoCal in preference to a rival bid from the Iraq Petroleum Co; the concession allowed SoCal to explore for oil in Saudi Arabia.
SoCal assigned this concession to California-Arabian Standard Oil. In 1936, with the company having had no success at locating oil, the Texas Oil Co. purchased a 50% stake of the concession. After four years of fruitless exploration, the first success came with the seventh drill site in Dhahran in 1938, a well referred to as Dammam No. 7. This well produced over 1,500 barrels per day, giving the company confidence to continue. On 31 January 1944 the company name was changed from California-Arabian Standard Oil Co. to Arabian American Oil Co.. In 1948, Standard Oil of New Jersey purchased 30% and Socony Vacuum purchased 10% of the company, with SoCal and Texaco retaining 30% each; the newcomers were shareholders in the Iraq Petroleum Co. and had to get the restrictions of the Red Line Agreement lifted in order to be free to enter into this arrangement. In 1949, ARAMCO had made incursions into the Emirate of Abu Dhabi, leading to a border dispute between Abu Dhabi and Saudi Arabia. In 1950, King Abdulaziz threatened to nationalize his country's oil facilities, thus pressuring Aramco to agree to share profits 50/50.
A similar process had taken place with American oil companies in Venezuela a few years earlier. The American government granted US Aramco member companies a tax break known as the golden gimmick equivalent to the profits given to King Abdulaziz. In the wake of the new arrangement, the company's headquarters were moved from New York to Dhahran. In 1951, the company discovered the world's largest offshore field. In 1957, the discovery of smaller connected oil fields confirmed the Ghawar Field as the world's largest onshore field. In 1975, the Saudi Arabia second five-year economic plan included a Master Gas Plan. Natural gas would be used to generate power, rather than flaring the gas; the plan counted on using the associated gas, but by 1985, Aramco was able to include a billion standard cubic foot per day of non-associated gas. This non-associated gas was produced from the Kuff Formation, a limestone 650 m below the oil producing Arab Zone. In 1994, Aramco discovered more non-associated gas in the deeper Jawf sandstone formation, built plants in Hawiyah and Haradh to process it.
This increased the capacity of the Master Gas System to 9.4 billion scfd. In 1973, following US support for Israel during the Yom Kippur War, the Saudi Arabian government acquired a 25% "participation interest" in Aramco's assets, it increased its participation interest to 60% in 1974 and acquired the remaining 40% interest in 1976. Aramco continued to operate and manage the former Aramco assets, including its concessionary interest in certain Saudi Arab oil fields, on behalf of the Saudi Arab Government until 1988. In November 1988, a royal decree created a new Saudi Arab company, the Saudi Arabian Oil Company, to take control of the former Aramco assets and took the management and operations control of Saudi Arabia's oil and gas fields from Aramco and its partners. In 1989–90, high-quality oil and gas were discovered in three areas south of Riyadh: the Raghib area about 77 miles southeast of the capital. In Sept. 1990, after the start of the Gulf War, Aramco was expected to replace much of the oil production removed from the global market due to the embargo of Iraq and occupied Kuwait.
This amounted to producing an extra 4.8 million barrels per day to keep the global oil market stable. In addition, Ara
Marketing is the study and management of exchange relationships. Marketing is the business process of satisfying customers. With its focus on the customer, marketing is one of the premier components of business management. Marketing is defined by the American Marketing Association as "the activity, set of institutions, processes for creating, communicating and exchanging offerings that have value for customers, clients and society at large." The term developed from the original meaning which referred to going to market with goods for sale. From a sales process engineering perspective, marketing is "a set of processes that are interconnected and interdependent with other functions" of a business aimed at achieving customer interest and satisfaction. Philip Kotler defines marketing as Satisfying wants through an exchange process; the Chartered Institute of Marketing defines marketing as "the management process responsible for identifying and satisfying customer requirements profitably." A similar concept is the value-based marketing which states the role of marketing to contribute to increasing shareholder value.
In this context, marketing can be defined as "the management process that seeks to maximise returns to shareholders by developing relationships with valued customers and creating a competitive advantage."Marketing practice tended to be seen as a creative industry in the past, which included advertising and selling. However, because the academic study of marketing makes extensive use of social sciences, sociology, economics and neuroscience, the profession is now recognized as a science, allowing numerous universities to offer Master-of-Science programs; the process of marketing is that of bringing a product to market, which includes these steps: broad market research. Many parts of the marketing process involve use of the creative arts. The'marketing concept' proposes that in order to satisfy the organizational objectives, an organization should anticipate the needs and wants of potential consumers and satisfy them more than its competitors; this concept originated from Adam Smith's book The Wealth of Nations, but would not become used until nearly 200 years later.
Marketing and Marketing Concepts are directly related. Given the centrality of customer needs and wants in marketing, a rich understanding of these concepts is essential: Needs: Something necessary for people to live a healthy and safe life; when needs remain unfulfilled, there is a clear adverse outcome: death. Needs can be objective and physical, such as the need for food and shelter. Wants: Something, desired, wished for or aspired to. Wants are not essential for basic survival and are shaped by culture or peer-groups. Demands: When needs and wants are backed by the ability to pay, they have the potential to become economic demands. Marketing research, conducted for the purpose of new product development or product improvement, is concerned with identifying the consumer's unmet needs. Customer needs are central to market segmentation, concerned with dividing markets into distinct groups of buyers on the basis of "distinct needs, characteristics, or behaviors who might require separate products or marketing mixes."
Needs-based segmentation "places the customers' desires at the forefront of how a company designs and markets products or services." Although needs-based segmentation is difficult to do in practice, it has been proved to be one of the most effective ways to segment a market. In addition, a great deal of advertising and promotion is designed to show how a given product's benefits meet the customer's needs, wants or expectations in a unique way. A marketing orientation has been defined as a "philosophy of business management." Or "a corporate state of mind" or as an "organisation culture" Although scholars continue to debate the precise nature of specific orientations that inform marketing practice, the most cited orientations are as follows: A firm employing a product orientation is concerned with the quality of its own product. A product orientation is based on the assumption that, all things being equal, consumers will purchase products of a superior quality; the approach is most effective when the firm has deep insights into customers and their needs and desires derived from research and intuition and understands consumers' quality expectations and price they are willing to pay.
For example, Sony Walkman and Apple iPod were innovative product designs that addressed consumers' unmet needs. Although the product orientation has been supplanted by the marketing orientation, firms practicing a product orientation can still be found in haute couture and in arts marketing. A firm using a sales orientation focuses on the selling/promotion of the firm's existing products, rather than determining new or unmet consumer needs or desires; this entails selling existing products, using promotion and direct sales techniques to attain the highest sales possible. The sales orientation "is practiced with unsought goods." One study found that industrial companies are more to hold a sales orientation than consumer goods companies. The approach may suit scenarios in wh