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MM (EXTERNAL FACTORS, TYPE OF BUSINESS, MM'S DIVISIONS, SPECIFIC…

- - - - Began mining oil in the Ontario region of Canada (due to growing demand for petrol)
      - Diversified = opened a copper mine in Canada and Chile
      - Converted to a public limited company
        
        Allowed MM to finance the new mines + make international trading easier + facilitate future growth
        
        Merger with Chilean (a Chilean mining company)
        
        Due to MM realising that a small business would not survive the economic depression and political uncertainty
        
        Diversified into property (Canada and Europe)
        
        Opened more mines
        
        Opened a Zinc mine in Australia
        
        Took over a palladium mine in South Africa
        
        Opened a gold mine in Egypt
        
        Opened a tar sands mine in Alberta
  - - - Jock and Craig MacAskill (brothers/founders)
      - Isla (Jock's great granddaughter) as Chief Executive Officer
      - Ethan (Craig's great grandson) as Finance Director
      - 2 worker representatives and 3 Chilean shareholders
- - - - Due to oil being a fossil fuel and the declining growth in worldwide demand for petroleum and other oil products (as part of a major trend towards reducing carbon emissions in most countries)
      - Also due to oil fields passing their peak production levels
    - - concerns about transporting harmful oil and gas products through towns
    - - Developing energy-efficient production methods
      - Supporting research into more efficient uses of energy (like energy-efficient cars)
      - Offsetting carbon emissions by funding reforestation and other environmental projects
      - researching diversification into alternative fuels (like hydrogen)
      - Strengthening ethical values throughout the business (particularly in oil production)
  - - - 3 DISAPPOINTING YEARS
        Between 2018-2021, occupancy rates fell from 80% to 60%
      - Competition from Homehol (affecting MM's hotel bookings)
      - Return visitor numbers have declined + comments on review websites have become increasingly negative
      - Customer complaints: 1. Higher prices compared to customers 2.uncomfortable beds. 3. Rude staff 4.Renovations needed for old buildings 4. Poor quality food
    - - Avertising in travel magazines
      - "two for the price of one" promotional offer
      - Has not increased bookings
  - - - Demand for palladium has been falling over the last 20 years
        
        Although palladium produced in MM's mine in South Africa is highly profitable, facing cash flow problems
      - prices of minerals can be volatile BUT are determined by international commodities markets that reflect supply and demand at any given time
      - demand for copper is high and expected to grow 50% over the next 20 years
      - Gold production has recently been very profitable for MM
        
        HOWEVER, company's gold mine in Egypt now has technical problems and some areas of the mine are unsafe
        
        Risk of flooding if heavy rains fall
        
        Some of the lorry drivers at the mine have threatened strike action because of safety and pay issues
        
        mine is currently producing below the break-even level (MM is exploring ways in which it could reduce its costs)
- - - - Wages
        
        Employees in the hotels in Berlin, Rome and Geneva have low wages relative to other workers in Europe
        
        Employees in Canada are paid high wages (consistent with general wage levels in Canada) while employees in Africa received low wages (consistent with local wage rates)
      - Employee rights
        
        Employees in Europe and Canada expect to be able to belong to a trade union + receive health insurance + favourable employment contracts
        
        employees in some countries have zero-hour contracts (particularly in mines and hotels) + no trade union protection