The United States transportation industry is one of the largest consumer markets. The market domains within the transportation industry are major contribution to the continual expansion of the industry. The transportation business is massive, incorporating everything from metropolitan transport, train systems and buses that people use to commute back and forth to work and school, from the rail and trucking systems that transport products nationwide and ships that move products from port to port all around the world to the airliners we use to fly to destinations near and far for work and pleasure, to the express shipping companies "for when it absolutely, positively has to be there overnight" (The Editors, 2012). According to the International Trade Administration, “the transportation industry brought in $1.48 trillion in 2015 and represented 8 percent of annual gross domestic product” (International Trade Administration, n.d.).
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The purpose of this paper is to examine a business research on the transportation industry, which will transition into choosing a particular market domain within that industry and a specific company of interest. This company will be my model throughout the course in which I will provide information as the basis of research and analysis. The advantage of local and international transportation industry established from a strong workforce and generally consists of low costs and administrative weights. The methods of transportation are rail, air, water, pipeline, and road. Secretary Rodney Slater believes, “In the Year 2025, all of the transportation modes will continue to play critical roles in the global economy, whether for transporting goods over long distances between nations or for shorter movements to and from intermodal terminals" (Slater, R, 2000). Transportation is the business that incorporates different enterprises together, because it is the way to globalization. Yet, majority of society failed to acknowledge the constant change in the transportation industry. Regulations, innovations, machinery improvements and road construction have all influenced the business in an exclusive way. Transportation is imperative because it significantly contributes to trade of commodities, shipments of documents, parcel and travel. The transportation business is incomprehensible and consists of various subdivisions. These subdivisions are categorized as local, regional, national or international. The transportation business integrates all organizations, whether it is the transportation of people or commodity by sea, air, or land from one point to another. Many individuals extremely depend on the transportation business in all forms of operations. “As a result, economic system both locally and internationally turns out to be very …show more content…
For an industry so large, there are few sources of laws and regulations to abide by. This includes laws developed from the government, state and local sources, and can apply comprehensively at the transportation system level. Several federal regulations oversee distinctive types of transportation. Some of the laws that govern transportation in the United States are: Federal Highway Administration, Federal Transit Administration and National Highway Traffic Safety Administration (Legal Resources, n.d.). These laws regularly form administrative agencies, and/or develop existing authority agencies to execute these federal laws. For instance, the U.S. Department of Transportation (DOT) provides transportation rules in the United States. The Federal Aviation Administration (FAA) is in charge of regulating air travel, the National Transportation Safety Board (NTSB) examines mass transit accidents and the Federal Railroad Administration (FRA) controls rail
The purpose of this paper is to examine a business research on the transportation industry, which will transition into choosing a particular market domain within that industry and a specific company of interest. This company will be my model throughout the course in which I will provide information as the basis of research and analysis. The advantage of local and international transportation industry established from a strong workforce and generally consists of low costs and administrative weights. The methods of transportation are rail, air, water, pipeline, and road. Secretary Rodney Slater believes, “In the Year 2025, all of the transportation modes will continue to play critical roles in the global economy, whether for transporting goods over long distances between nations or for shorter movements to and from intermodal terminals" (Slater, R, 2000). Transportation is the business that incorporates different enterprises together, because it is the way to globalization. Yet, majority of society failed to acknowledge the constant change in the transportation industry. Regulations, innovations, machinery improvements and road construction have all influenced the business in an exclusive way. Transportation is imperative because it significantly contributes to trade of commodities, shipments of documents, parcel and travel. The transportation business is incomprehensible and consists of various subdivisions. These subdivisions are categorized as local, regional, national or international. The transportation business integrates all organizations, whether it is the transportation of people or commodity by sea, air, or land from one point to another. Many individuals extremely depend on the transportation business in all forms of operations. “As a result, economic system both locally and internationally turns out to be very …show more content…
For an industry so large, there are few sources of laws and regulations to abide by. This includes laws developed from the government, state and local sources, and can apply comprehensively at the transportation system level. Several federal regulations oversee distinctive types of transportation. Some of the laws that govern transportation in the United States are: Federal Highway Administration, Federal Transit Administration and National Highway Traffic Safety Administration (Legal Resources, n.d.). These laws regularly form administrative agencies, and/or develop existing authority agencies to execute these federal laws. For instance, the U.S. Department of Transportation (DOT) provides transportation rules in the United States. The Federal Aviation Administration (FAA) is in charge of regulating air travel, the National Transportation Safety Board (NTSB) examines mass transit accidents and the Federal Railroad Administration (FRA) controls rail