Finance Essay

These policies are characterized by a combination of risk and return, and can have from a conservative to an aggressive profile. The three types of working capital policies most recommended and used are: Aggressive Policy, Average Policy, and Conservative Policy. The aggressive policy working capital management focuses on maintaining current assets amounts at minimum levels, which is reflected in the total asset turnover higher, with a higher margin. This policy emphasizes the aspect of returns on risk-return decision. This policy is the highest risk policy but with more funds to reinvest in the company or usiness. According to Kulkarni (2011) â€Å" it is a high risk arrangement though, because, should your creditor come asking for money, and for some reason, you don’t have enough money to pay them off, you might end up having to sell a costly asset to pay off your debt to them. † (Kulkarni, A. 2011 , Working Capital Policy, 9). The matching policy working capital mana gement leaves a person with cash available to reinvest in his company or business. This policy entails a medium level risk and with this policy the business assets matched business liabilities. According to Kulkarni (2011) â€Å"this policy works in an arrangement where the current assets of the business are used perfect to match the current liabilities. It is a medium risk proposition and requires a good amount of attention. † (Kulkarni, A. 2011 , Working Capital Policy, 6). A conservative policy working capital management focuses on maintaining a high liquidity, as well as other accounts assets, as inventories and accounts receivable, which is very expensive, because they remain idle resources that eventually become unproductive, with slow rotation of assets due to the large investment in current assets. This policy emphasizes the minimization of risk, as opposed to maximizing yields that is not risk to be sure liquidity. A conservative policy may be best for people who want to keep low risks. According to Kulkarni (2011) â€Å"This is the policy with the lowest risk, but it reduces the money used in increasing the production† (Kulkarni, A. 2011 , Working Capital Policy, 11). Recommended Policy The working capital policy recommended for Lawrence Sports is the matching policy, more commonly referred to as the moderate approach. The working capital is funded by short and long term borrowing, equity financing or a combination of them. It is vital for the company to balance the risk and return of financing. The moderate approach falls in between the two other polices described above and is the most balanced. This enables Lawrence Sports to balance its risk and returns. Furthermore, it finances short term debt with temporary assets while permanent and fixed assets are financed by long term debt and equity sources (Zeepedia, n. d. ). A moderate approach gives Lawrence Sports the ability to maintain the relationships necessary to continue business, balance the working capital to still create a profit, and repay what is owed to the bank. Figure 1. Different Policies Regarding the Level of Investment in Working Capital demonstrates how the Moderate Approach compares with the others in terms of the level of investment in working capital (Watson ;amp; Head, 2012, p. 72). Risk It is important for a company to choose the best working capital policy, one that features a level of risk the company can handle. Team C decisions about working capital management are being driven by the intrinsically related priority of risk management. Team C’s aim is to minimize the risk of insolvency while maximizing the return on the assists (Dixon, 1991). Teams C choose the matching working capital policy because it entails a medium level of risk and it will also leave Lawrence Sports with more cash to reinvest in the business. Lawrence Sports will keep low levels of working capital so that they can employ the funds more productively elsewhere like purchasing more goods or more machinery. It is a relatively amount of risk balanced by a relatively moderate amount of expected return. The best level of working capital would be the one in which a balance is achieved between risk and efficiency which also requires continuous monitoring to maintain proper level in various components of working capital, i. e. , cash receivables, inventory and payables, etc. Contingencies A contingency is an unexpected event or situation that affects the financial health, professional image, or market share of a company. It is usually a negative event, but can also be an unexpected windfall such as a huge order. Anything that unexpectedly disrupts a company’s expected operation can harm the company even if the disruption is because of a windfall (Duff, 2013). In the case of Lawrence Sports there should be a contingency plan in place in the event product is damaged or lost either in transit or by some unforeseen event. Another contingency plan Lawrence Sports should consider is a cash reserve to cover accounts receivable loses if Mayo defaults on invoice credits. In this case vendor defaults affect bottom line but in turn Lawrence would not have to borrow money from Gartner and avoid high interest rates. For Lawrence to recover from such an incident Lawrence Sports needs to use its working capital to cover the costs so that funds are not continuously incurred on the bank loan. In order for Lawrence Sports to raise the capital to cover a contingency plan Mayo would have to relinquish all sales to Lawrence Sports, payments to Gartner will have to be stretched out further and Murray would lose working capital and halt operations because Lawrence Sports payments would be differed even longer. These hefty decisions are all apart of risk management and can negatively affect business relations.

Elderly Abuse

Everyone has the right to be protected in any means of abuse. Abuse of the elders will be considered as one of the worst. Elders are so vulnerable from such abuse causing them to feel distrustful and alone. Incidents of abuse are commonly occurring in nursing home facilities, impatient mental health hospitals, or within the person’s residence where the elders are not treated as how they should be.Abuse may come in verbal, physical, or even sexual means. Most of the victims were left with bruises, wounds, broken bones, or bed sores. Even worse, many suffer from trauma. Every year, many thousands of elderly abuse incidents are recorded. The sad part of it was most of the elders suffered the abuse, neglect, and extortion from their own family, relatives, and other persons in contact with them.In California, and in every other states of the United States of America, care givers and every other direct care workers ranked number one from the ones who commit the responsibility of suc h abuse. These include the physical abuse through hitting of any object and mishandling of the elders causing to bruises, sexual abuse from mean touching to rape, mental abuse implied with screaming and yelling to the victim, medical mistreatment through improper usage of drugs and inadequate treatment of sicknesses, and extortion.Abandonment would be another type of abuse wherein the caretaker always leaves the elder alone, causing the victim to be very inferior and just choose to isolate his/her self. There are many signs that may help you know if your elders are suffering from abuse and neglect. They always experience depression, confusion, dementia, and anger. How will the abuse be stopped? It will be possible through prevention. Once you noticed some signs of abuse, try to report it to your officials as soon as possible.

Response Don’t Blame The Eater

David Zinczenko is arguing that fast-food restaurants aren’t to blame for people, especially children and teenagers, for their obesity- it is their fault. And I agree with him one hundred percent. Yes, the menus at fast-food companies aren’t the healthiest, but they shouldn’t be blamed for making kids obese. The parents are all fully aware that the â€Å"Big Mac† and â€Å"Baconater† aren’t the most nutritional foods, and they need to take the responsibility for their children’s obesity.Zinczenko argues that we as people should â€Å"†¦know better than to eat two meals a day in fast-food restaurants†, and the fact that it’s near impossible to find healthier alternatives to fast-food. How can people just sit around all day watching television, participate in a fast-food buffet, and then blame the restaurants for their health issues? That’s just absurd and very irresponsible. If people don’t like how thei r kids are fat, stop taking them to McDonald’s all the time!They don’t drive themselves there! And maybe those parents can make some responsible decisions for once in their lives and make their child exercise more and eat healthier. If people expect different results, they have to work for them. Also, Zinczenko mentions how teenagers can’t necessarily find healthier places to eat instead of fast-food places. It’s pretty hard to find a healthier alternative to fast-food when you’re an overweight teenager with a car and a hungry stomach.I mean, there’s only like twelve stores in the entire country that carry fresh produce, low-fat snacks, and 100-calorie chips. NOT. Come one people, you have the car, you have the option of eating healthy or not, why can’t you just suck it up and take the blame for your irresponsible actions? If toddlers can own up to coloring on the walls, why can’t teenagers and adults own up to their decisions to eat at unhealthy places? If you know it’s not a healthy restaurant, don’t eat there!It’s pretty simple. Fast-food industries may try to â€Å"target children in their ads†, but it ultimately comes down to the adults-the parents- choosing to dine at these places and pork up their kids on the high-sugar sodas, salty French fries, and greasy burgers. If they would just take the time to look out the window, they would see the healthy alternatives to fast-food, and how the alternatives are literally right in front of them.

Qualifications to become an accountant in the UK Case Study

Qualifications to become an accountant in the UK - Case Study Example The accounting sector has revolutionised from what it was some decades ago. With the introduction of the internet and the popularisation of e-commerce, there is a need to incorporate some versatility in this profession. Gone are the days when accounting was thought to be something that involved numbers only. These days, accountants are required to be more analytical than technical. (British Expats, 2007)The Institute of Chartered Accountants in England & Wales (ICAEW) is the largest accountancy body in Europe. It is seen as a body that yields financial qualifications of a reputable level. The ICAEW has about one hundred and twenty seven thousand members where twenty [percent of these members happen work and live ion regions falling outside the United Kingdom. This qualification is really relevant because it equips individuals with the ability to work in diverse areas of business. (ACCA, 2008)In order to enrol for an ICAEW qualification, a student needs to be above eighteen years of a ge. On top of this, they are required to have passes in GCSE and A-level. For the latter case, they should have two of those passes but for the former, they are required to have passes in 3 subjects. This must include English and mathematics. However, there may be exceptions for this, if a student has enrolled for AAT-ACA. This is a fast track course that facilitates students who plan on enrolling for ICAEW qualifications. Sometimes some international students may not have some of the above named requirements but if they have completed bachelor degrees then they may be allowed to join. Besides this, the main exemptions that exist for these particular qualifications are those students who have passed CIMA exams, ACCA finalists. This is something that has to be confirmed from the ICAEW centre. Also, candidates who have passed some of the exams in the professional stage of the qualifications may obtain credits for this. For the points required to enter this accounting qualification; ca ndidates must have a minimum of two hundred and twenty tariff points in UCAS or in general, they can have eighteen points. Besides this, for those entering using the avenue of degrees, the requirement is that candidates should have a first degree. Exams are normally conducted in two stages. The first is called the professional stage. In this stage, individuals are required to do twelve exams. These exams are normally conducted through computers and on average most of them last for one and a half hours. Candidates are expected to do application based modules. Examples of subjects covered in this area of study include; taxation, financial reporting, business management, business finance, audit assurance and accounting. These are subjects that are normally based on company law,. These are supposed to be six in number and normally take up about two and a half hours on average. The second stage of the exams is called the advanced stage. In this latter case, candidates are required to do two exams and are also expected to do one case study. Some of the topics to be taken in this stage include;

- Research Methods - Discuss the following statement. Unstructured Essay

- Research Methods - Discuss the following statement. Unstructured interviews should only be used as a precursor for a more structured approach to data collection - Essay Example Semi-structured interviews are flexible and they include both open and closed-ended questions but the interviewer adjusts the series of the questions based on the context of responses from the participants. Unstructured interview is a method that elicits the social realities of people; thus it has become widely employed by sociologists and anthropologists in research field process. Unstructured interviews should be only used as a precursor for a more structured approach in data collection in research process. This is because unstructured interviews are best applied for exploration when there is a limited understanding of the domain, or as a precursor to more focused and detailed structured interviews (Saunders, Lewis and Thornhill, 2009, p. 111). Unstructured interviews do not follow a prearranged schedule or list of questions unlike structured interview which employs a prearranged set of questions. Therefore, they can be used as the precursor of structured interview since this method is similar to survey research methods of data collection and they are administered orally instead of writing. The most significant and widely used unstructured interview originates from the ethnographic practice of anthropologists (Honey and Mumford, 1997, p. 36). Many anthropologists and sociologists employed unstructured interview for gathering information through participant o bservations and record field notes taking as they observe the sidelines and also joins the activities of the participants. Unstructured interviews are effectual because researchers identifies one or more key informants to interview on a continuing basis or take short notes while observing and at the same time questioning participants. This is vital because it provides first hand information and the method attempt to solve difficulties in question interpretations. Bandura in his book of social learning theory argues that people learn

Lovelocks Global Warming Essay Example | Topics and Well Written Essays - 250 words

Lovelocks Global Warming - Essay Example The equilibrium of the earth would be altered and even the prevention strategies that have been started will not be of any use because the damage that has already been done is irreversible. Â  Global warming is an important issue of debate but to consider it to be a cause for the end of the world within the next few decades is an exaggeration. Global warming has been an issue since the late nineteenth century. If it was a process which was going to produce disastrous effects on a very quick basis the earth would have ended by now. The steps to prevent global warming are already being taken up many countries. There have been inventions of solar and water-based cars. It is a fact that these measures would take time to come into effect but to put the blunt ending to the world without considering the efforts that are being put to save it is a very quick decision with not much evidence. Â  Global warming is an international issue which is affecting our world. It needs immediate attention with support from the people and the scientists who should look for ways and measures to prevent the catastrophic end of this world.

Research Project Paper Example | Topics and Well Written Essays - 2000 words

Project - Research Paper Example According to the Generally Accepted Accounting Principles (GAAP), there are several inconsistencies with the five scenarios mentioned. For instance, it is the sole responsibility of GAAP to evaluate and account on the transactions conducted in the company. In other words, it ensures that is correct presentation of the business income and expenses of the corporation in relation to realized profits and losses. On that aspect, for instance, the lease on technology assets on inflated prices constitutes a violation of the GAAP rule of accountability. Additionally, there is also the breach of the principle of full disclosure/materiality (Epstein & Saafir, 2010). In this principle, according to the umbrella of GAAP, the leasing of technology assets should have been made public in terms of the transactions and the records of the sales. There is also the breach of the principle of sincerity. For example, in making understatements of e-commerce state the tax payments, the organization goes aga inst the principality of GAAP that requires sincerity and honesty. Alternatively, this also violates the GAAP principle of regularity whereby a company should abide its sets rules and laws. The receivership of post-employment benefits by fictitious workers is also a sign of fraud in the organization. In accordance with GAAP requirements, the principle of non-compensation guards against the hiding of pertinent details that deal with financial information (Bragg, 2008). Therefore, there is an element of fraud because workers within the company are using proxies to award themselves heft payments. This is a breach against compensation by either asset or debt in the principle of non-compensation. Moreover, it also contradicts the GAAP principle of full disclosure that requires all financial information including payments and transactions to be disclosed in public through records. Another fraud that is apparent according to GAAP rules is that one involving the hiding of cash to help other future quarters. The earnings are meant to short change the expectations of an analyst in future reports. However, unknown to the corporation, this is a contravention of the principle of regularity that requires any company to conform to its stipulated rules and laws of financial transaction without making any monetary concealments (Epstein & Saafir, 2010). Furthermore, there is also the principle of utmost good faith that states that all the information pertaining to the firm should made public to its respective insurer before taking any policy. This is because such a move leads to shady dealings as one witnessed above to manipulate the judgment of a financial analyst. In the same view, there is also an element of fraud in the concealment of inventory shrinkage because it seems low for the industry. According to the GAAP rules, the principle of prudence if grossly violated and subjected to financial ridicule. The principle expects firms to abide with the reality of the company wit hout making things look contrary to the reality. On that account, there should only be recording of revenue and inventory shrinkage when sales have been made at their disposal value (Harrer, 2008). Additionally, this move by the company also goes against the principle of full disclosure/ materiality that requires the making of all financial inf

The Best Workplaces Essay Example | Topics and Well Written Essays - 2000 words

The Best Workplaces - Essay Example Toyota Company also holds joint-ventures with TPCA Company in Czech Republic, Kirloskar in India, GAC in China, and Sichuan FAW in China. Toyota Company is headquartered in Toyota city, Aichi with several regional headquarters spread across different regions of the world. The company has good strategic management principles and philosophy, which has helped it to remain at the top of automobile producers globally. The production system of the company is based on lean manufacturing and just in time production, which have helped the company to produce quality vehicles. These philosophies have also helps the company to boost its brand name in the market enabling it make more sales thus increasing its profits. In 2012 and 2013, the company is said to have produced more than 10 million vehicles making it the first automobile company to produce 10 million vehicles per year. According to research there are four main elements that have enabled them to progress over the years; long-term thinking before decision-making, good problem solving techniques, continuous employee development, and continuous solving of problems which helps in organizational learning (Crawley, Swailes & Walsh, 2011). The main reason why Toyota Company was selected for this research is its steady development and progress over the years. Employees play a key role in a company’s development and as such, it means that Toyota have good human resource management skills that are helping them to nature their human resources in a way that will help the company to grow and become the world leading automotive producer (Crawley, Swailes & Walsh, 2011). Another reason why it was chosen for this research is that my uncle works there, as a line manager is the China branch. He has been my role model since I was young and want to embrace his career path. After finishing college, I will seek an internship with the company with prospects of being taken as a management trainee and later

Corporate Social Responisbility Research Paper Example | Topics and Well Written Essays - 1000 words

Corporate Social Responisbility - Research Paper Example This notion of corporate social responsibility has been heavily debated on in recent years so much so that researchers have called into question the existence of the â€Å"social† aspect in â€Å"corporate social responsibility†. Advocates of CSR have increasingly defined it in terms of human rights, ethics, closures of plants, relations with employees and the environment. A more comprehensive definition of CSR and sustainability encompasses all three foundations of sustainability, including the people, economy and the environment. If only the social and environmental development is taking place that is referred to as â€Å"bearable† (Chick and Micklethwaite 83). If only the social and economic development is taking place, that is referred to as â€Å"equitable†, whereas, if only the environmental and economic development takes places, that is referred to as â€Å"viable† (Chick and Micklethwaite 83). CSR is achieved only when all three dimensions d evelop simultaneously; that is, it is bearable, equitable and viable (Chick and Micklethwaite 83). The very mention of CSR calls into question the reason for business’ existence. Whether or not businesses should be responsible for the society and environment remains questionable since the primary purpose of a business is to satisfy its shareholders and generate profits. This is the line of argument used by classical theorists who are against the practice of CSR. According to Milton Friedman, the only social responsibility of a corporate entity is that of doing business in an open competitive marketplace that is free of deception and any fraud by utilizing its resources in order to increase profits (Friedman 6). The classical advocates further maintain that managers are mainly responsible for catering to shareholders’ interests by enhancing financial returns to the business. Practicing CSR may lead to the dilution of economic productivity since the investments made in C SR may be irrecoverable (due to the non-profit nature of CSR activities) (Friedman 6). However, advocates of CSR base their arguments in favor of the same for various reasons. Usually, companies engage in such disclosure for two main reasons: achieving a competitive edge by enhancing employee morale and goodwill and pressure by external stakeholders such as governments, environmental agencies etc. Not adhering to the latter’s demands would mean a loss in company’s goodwill and, hence, profits. This leads us to the argument related to stakeholder view used by proponents of CSR. This view was conceptualized as early as in the 1970’s by Freeman who described organizations in terms of the managers’ relationships with stakeholders (Garriga and Mele 59). A stakeholder is typically any individual entity or group that has an impact on, or is affected by the corporation’s goals and objectives (Garriga and Mele 59). Companies can reconcile the conflicting ob jectives amongst stakeholders by engaging in a successful CSR dialogue with them in which the company gives something of value (such as a public service) to a significant community in lieu of popular support from groups and individuals within the environment. Advocates of CSR further state that firms are required to exercise duty of care when dealing with both primary and silent stakeholders (such as the community) (O’Riordan and Fairbrass 748). By recognizing the fact that shareholders’ interests cannot be satisfied without satisfying (to some degree) the

Principles of Microeconomics Essay Example | Topics and Well Written Essays - 1250 words - 4

Principles of Microeconomics - Essay Example Price fixation and cartel formation is illegal according to the U.S law. For example, there are three firms in an industry and they collude to form a cartel. They fix the prices they will charge from their customers and all the three firms charge the same price. Furthermore, firms may also fix prices to prevent new firms to enter the market. This is an example of horizontal price fixing and is illegal according to the US antitrust law. The US antitrust law discourages creation of monopoly and price fixing to stimulate competitiveness within an industry. However, there are some exceptions to the illegality of cartels in the US. For instance, if the agreement between two companies is a tacit one, it is not considered as illegal. For example, Pepsi and Coca Cola do not have any formal price fixing agreement. However, they have a tacit agreement whereby both the companies charge similar price from their customers. They do not compete on the basis of price but instead involve in non price competition to increase their market

The Significance of Place Essay Example | Topics and Well Written Essays - 750 words

The Significance of Place - Essay Example sions this word can be confined to the description; ‘A portion of space with definite or indefinite boundaries’, it could be a room, an office, a house or a chapel. But being less cramped, when it comes to the classification of a ‘Place’ in human life, it means ‘a vital dwelling or locality which may or may not change the behavior and perspective of a person which occupies it’. Hence, it is about time that we acknowledge the significance of place in our lives and study how it matters to us even when unbridled commercialism is eliminating the consistency and liveliness out of architecture as the world becomes ignorant of its important and moves on towards technological development. We cannot steer clear of the magnitude of a place and the effects it has on the human beings that reside in it. People live in places that are poles apart from each other. Alain de Botton bears out, â€Å"Belief in the significance of architecture is premised on the notion that we are, for better or worse, different people in different places—and on the conviction that it is architecture’s task to render vivid to us who we might ideally be.† (13) This goes on to suggest that the importance of place varies for all of us. We are born in hospitals, we grow up in houses, we are educated in schools, we confess in churches, we get married in chapels and then we are buried in graveyards. These places, as infinitesimal they might seem, hold immense value in our lives as they take away a part of us with them as soon as we step in. At birth our first ever body scent is pierced into the walls of hospitals. As we grow up, our emotions and thoughts are embedded into the wall s of our houses. When it’s time for us to confess, our honesty is implanted into the corridor of the church. While we go through the educational phase, our hard work is plastered onto the boards of our class rooms and when it is time for us to get married, a part of our happiness is instilled onto the deep walls

Macroeconomic Transmission Mechanism Essay Example for Free

Macroeconomic Transmission Mechanism Essay Macroeconomic Transmission Mechanism of International Oil Price Rise: The Indian Situation In this Article, an effort has been made to trace the impact of an increase in international oil prices on Indian economy outlining the various transmission mechanisms. These transmission mechanisms take into account some of the important macroeconomic relationships, as relevant to the Indian context, and the administered nature of domestic oil price in India. The three broad channels through which the international oil prices impact the macroeconomy are identified as the (a) Import channel, (b) Price channel and (c) The fiscal channel. (a) A rise in international price of oil will translate to higher import bill for oil for the net oil importing countries like India (see, Table 1 and 2). Under the reasonable assumption of low price elasticity of demand for oil, ceteris paribus, the trade balance will worsen due to an increase in international oil price. Rise in inflation due to increase in oil prices means that the growth in real GDP is even lower. The compression in aggregate domestic demand dampens growth. In figure 1, the import channel is indicated by the link from international oil prices to current account balance to nominal GDP. Although managed float, the nominal exchange rate in India is observed to be determined solely by the capital account and not by the current account in the present Indian context. The second order adjustment to higher import bill and worsened trade balance occurs only through contraction in aggregate demand and decline in imports and it does not occur through movements in exchange rate (depreciation). Finally, it is expected that the slowdown in economic growth would subsequently reduce the demand for imports which, in turn, would partially mitigate the adverse impact of high international oil prices on trade balance. (b) The price channel links the international prices to domestic inflation. For a typical developing country like India facing an oil price hike in the international market, an unhindered pass-through of oil price increase leads to a jump in the general price level on account of direct use of oil at higher prices plus increase in costs of production of final goods using oil as an input. Modelling the passthrough of oil prices through an input-output system, Jha and Mundle (1987) estimated that in India if the administered prices of crude oil, gas and petroleum products increase by 7 percent, the overall WPI increases by 1 percent (i.e. the total elasticity to be 0.14). Recently the Reserve Bank of India (2011) has estimated that every 10 percent increase in global crude prices, if fully passed through to domestic prices, could have a direct impact of 1 percentage point increase in overall WPI inflation and the total impact could be about 2 percentage points over time as input cost increases translate to higher output prices across sectors. Greater the share of fuel in total consumption basket, larger would be the influence of international commodity prices on inflation. (see, Table 2 for other empirical studies relating to India) In India, a large proportion of the international oil price increase has traditionally been absorbed by the government (and shared with public sector oil producing and retailing companies). The objectives for regulation of price of oil have been three-fold: (a) To protect the domestic economy from volatility in international oil prices ; . (b) To provide merit goods to all households, e.g., clean cooking fuels like LPG, natu ral gas and kerosene to replace use of biomass-based fuels such as firewood and dung; and (c) To protect poor consumers so that they may obtain kerosene (through PDS) and LPG at affordable rates. In the recent years, there has been a change in the oil pricing policy with a move towards market determined oil prices. The extent of price regulation varies across products in the oil basket, with minimum control existing for petrol and very little pass-through for LPG and kerosene. The domestic price of oil is administered, which is essentially a policy decision, and thereby determines the degree of pass-through of the change in international prices to domestic oil prices. In figure 1, the price channel is indicated by the link from international oil prices to increase in administered prices to WPI inflation. (c) The third channel of transmission of oil price shock considered here is the fiscal channel. In the absence of a complete pass-through, an international oil price Increase will raise the subsidy on oil and therefore the revenue expenditure of the government. Furthermore, in India, the oil prices are subsidised, but they also generate substantial tax revenues both for the centre and the states because of an increase in ad valorem tax collections on oil and petroleum products that would have to be netted out to arrive at the net addition to oil subsidy given by the government.

News Channels Prefrences

News Channels Prefrences After the last millennium year, we had seen a great budding in the entertainment news channel segment. With privatization came, the growth of joint ventured channels as well as big corporations joining the line. Progressively, it broadened its horizon into other sectors Music , Kids , Movie and Sports channels. We also saw a great mushrooming in the News segment. The huge growth was seen with increase in number as well as the audience response. According to Television Audience Meter, the overall television audience share of news channels increased from 1.5 per cent in 2001 to 7.9 per cent in 2012. Therefore, the amount of money spent on this segment was increased as companies could reach specific viewers. The AC Nielsen survey conducted in India showed that 30% of the TV watching population watched Entertainment Channels during the prime time whereas only 8% of the population watched news channels during that hour. With the day to day increase in competition in the News Channel Segment, it remains difficult to keep up the constant viewership. Hence, all the channels are running the rat race in market for gaining mass eyeballs. The news beats are repeated 247 just to keep the viewer stick to the television. These News channels have a floating audience. Literature Review The following is the list of different literature that I have consulted before i undertook this project. All these different pieces of work have helped us deciding the course of action that we may follow and also provided a starting point based upon which we have developed our methodology to achieve our objective. INDUSRTY OMNIBUS RESEARCH REGARDING STUDY OF VIEWS ON NEWS CHANNELS PREFRENCES Cyber Media Research had conducted a survey to understand a viewers perception, awareness preferences .They interviewed around 703 households in Ambala, Delhi Mumbai. The participants were asked to tell their first recall, about their preferred channels without the help of any hints. They were then given a list of 54 channels and they were requested to choose channels. In this way, top-of-mind, total unaided and total preference (sum of unaided and aided preference), were captured in the study and analyzed. Results showed that Hindi news channels were more popular than their English counterparts. AajTak lead with 66% of the market share followed by Star news, Zee news NDTV. This research helped us in determining the factors that people value during setting their preferences for a news channels. UMAR SURVEY BY AC NIELSON This survey covered the media consumption habits of Indians in TV, Print Online media. They used random telephone calls, TV diaries, booklets in which samples of viewers record their TV viewing during measurement week, electronic gadgets like people meter were also used. Calculation of reach: Proxy Sample Rate: 10 individuals For a single episode, if out of 10 people at least 6 saw the 1 minute of the programme then, the reach is calculated as 6 out of 10. Therefore, reach comes up to 60%. Conclusion: The result of the study showed that English is preferred language when going for print media whereas the television is watched more in regional languages. 9 out of 10 people watch TV nearly three-fourth of the surveyed read English dailies. Result also shows that magazines are not a popular choices amongst the rich more than 6 in 10 individuals do not read magazines. This research helps by informing us that the viewership also depends on the segments of people and their preference and lifestyle. FACTORS THAT IMPACT NEWS This article by Edd Applegate, a professor of Advertising at Middle Tennessee State University in Murfreesboro writes how journalists should not be influenced by commercials or professionally prepared news releases. He also speaks about how the news is being generated by PR Personnel and Manipulators. Manipulators have been successful in the past, perhaps too often for the countrys welfare. For example, Presidents of the USA such as Kennedy, Johnson, and Nixon were successful in manipulating the press. President Franklin Roosevelt and his charismatic personality influenced what and how reporters wrote for the press. 4. CATEGORY TO HARD AND SOFT NEWS -CONFERENCE PAPERS, INTERNATIONAL COMMUNICATION ASSOCIATION. The study mainly focused on print journalism. However, as briefly described above, it describes hard news / soft news studies, which now does not limit itself to the print media but rather include television and more recently, new media. Moreover, as we will presently show, most of these studies research the way the audience (readers, viewers, listeners) consume the different types of news. Methodology The data collection instrument in this survey is questionnaires collected through field based survey Web based survey. The location of the survey was limited to the periphery of Manipal. The questions records the degree to which Television News Channels sensationalize and manipulate news and space for their suggestions is also provided. The survey consists of ten questions and the Sample size was between 50 60, which is significant for doing and Qualitative Critical Analysis. The results will be depicted using tools like Histogram Pie Charts. Sample Size: 55 Types Sources of Data: Sources of primary data are Businessmen Service Employees Students Housewives Introduction Television in India has existed in India for about decades, before which the transmission was mainly in black and white. The first telecast started on September 15th 1959 in New Delhi. Color Television was introduced in India during the eighties by state owned broadcaster Doordarshan (DD), followed by the Asian Games which India hosted. In the nineties came the broadcasting of satellite TV foreign programmers like CNN and Star TV followed by the domestic channels such as Zee TV and Sun TV. Prior to this people had to make it through Doordarshan telecasted mostly socio economic development programmes, programmes on agriculture, education etc. with very little entertainment in spite of which the audience were glued to their television sets. Around 1995 Indian viewers were exposed to more than 50 channels and by 1996, more than 60,000 cable operators existed in India. Entry of music channels, movie based channels, soaps started dominating Indian channels by 2003. India in the recent years has experienced the rise of more than fifty 24- hour satellite news channels, broadcasting news in 22 different languages. Indian had only one government controlled television network until private satellite networks came up and hyped up their presence. These 24- hour news channels were considered much better than Doordarshan because of its virtual nature and its capacity to simultaneously capture and publicize reality. Even without commentary a television clip became interesting enough as was shot live. Television as we know has the capability to reach millions of people at the time because it can transmit both pictures and words which become a very powerful advantage and keeps the audience glued. Also the images shown on television are much more effective and powerful than a static picture in a newspaper. However, news channels are on a look out for rating of a particular story, so ironically 24/7 news channels do not telecast news the whole day, the main news although is seen only during the morning, afternoon, evening and late night hours. It is being advocated that television journalism should move beyond mere news reporting to in-depth analysis of news. News channels need to be more sensitive in their reportage and should present the facts in a new format. The problem, it is felt with too much competition among news channels is that, in the race to grab viewers attention, TV channels end up dumping down or using the lowest common denominator to produce programmes that end up underestimating the intelligence of their viewers. Worse, channels trivialize, sensationalize etc. As more news channels enter the fray the endeavor to ensure not just authenticity and empathetic portrayal of people, but credibility as well, would assume paramount importance. WHAT IS NEWS? News is a report of a current event Or future events . News is a description about current on goings in a newspaper, television, radio or internet. From all these, we can safely define news as a development that has happened in the past 24 hours which was not known outside and which is of wide interest to the people and that which generates curiosity among people. W. Lance Bennett claimed, News is usually defined as information that is timely, relevant to the concerns of its audience, and presented in a form that is easy to grasp. NEWS CHANNEL A news channel is one that telecasts, unlike entertainment oriented TV channels, the news that is immediate and effective. A news channels can do what a newspaper cannot because it transports the viewer, though live pictures, to the scene of action. Previously, the Indian viewers had very limited options for watching news. For news they had watch Doordarshan during fixed hours, and some International news continuous channels like BBC and CNN which were available to few viewers. In the need to provide more news and information and to make people more aware of their day to day happenings, Zee News came into the scenario. This is when there emerged what is known as the revolutionary way of telecasting news. Followed by Zee News were Star News and NDTV to provide news and information to the mass audience. In course of time, news stories that were telecasted in all these news channels began to acquire a certain exaggerated and sensationalized character that in a certain sense became difficult to differentiate between reality and entertainment. There are over fifty news channels, including the national and regional, telecasting news all over India. This makes the viewer at times confused as to which channel to watch or just try and watch all the channel leading to the phenomenon called channel switching. Television is a one-way communication; therefore it important to establish the credibility of news channels to ensure quality news. Information today is considered as the main priority in mist peoples lives. Therefore, in this competitive world to get attention from people, credibility is a must. For instance, if BBC is taken as our standard, the Indian channel are long associated with that of BBC, how many of them are even making an attempt to do that is a question that crosses many viewers mind. Sensationalism a conceptual framework The media, especially the news media , has been identified as the fourth estate that works to inform and educate the people in a manner that is fair and accurate while maintaining objectivity; a term used often in the expression of news. Yadav and Sharma (2006) quote Dr N Bhaskara Rao, chairman of the centre for media studies (CMS), New Delhi, Studies indicate that the level of public confidence in the media has been on a decline. There are accusations of arrogance, insensitivity, bias, accuracies, sensationalism, stereotypes, trivialization, conflict of interest and disappearing line between news and views on the other. This brings up the question as to whether the media is overtly indulging in sensationalism and whether such behavior reflects a lack of accountability. Even a not-so-close study of news channels today will indicate a paradigm shift in the standards of news gathering and presentation. Stories are glorified so frequently on the news that it becomes difficult to differentiate between reality and entertainment. Most often the entertainment quotient is higher than the information value. This leaves the consumer of the news, sitting comfortably in armchairs in heated living rooms, absolutely heartbroken at the state of this planet and the people. Most often than not, the emphasis of the story is more on the emotional responses to a particular event than on the event itself. The superficial controversies gets reported leaving little room for in depth analysis of substantiate issues. The focus lies on the juicy aspects of the story to pull in a larger share of the audience which can sold to the advertisers. The news channels face a crisis with the race of eyeballs as they cater more and more to the masses, their programmes accused of lacking dignity and credibility in their coverage. News media is no longer brought to us solely as an accurate source of information about local and global issues. In reality, it is driven by a corporate agenda that has identified a profit opportunity for fulfilling our need to know about the world around us. Increasing corporate involvement has added a whole new dimensions to what we know only as the news. Now factors like reviewing ratings advertising, the 24*7 trend and explosion of technology play more critical roles ultimately affecting the content of the information being provided. Technology by itself was not sufficient to create the multi channel revolution. It is the programmes, their content, their forms and format, the presentation-style, gloss and finish that the ever growing demand of television channels. Media- Money Matters Though the media industry is considered to be the watchdog of the society with its primary aims being to inform, educate and to entertain, there is no denying that today it is driven by profit. Unlike newspapers, news channels and talk o not receive much in terms of the subscription. The cost of some production in terms of the various equipment and resources persons required to come up with bulletins and breaking news is quite high. The constraints of time further increase costs. Such being case, advertisements not only help to cover the production and administrative costs, they also accumulate profits. News media organizations is driven by profit and the profit is dependent on the ratings received, its very important to take steps to ensure people keep watching. Causing a reaction in an audience will get them to tune in the following day. Getting people to tune in everyday is money. Broadcasters buy programming outright from television software companies. The price depends on several things, the genre and the production house among them. Sitcoms and talk shows are less expensive as they are shot within a studio. Similarly, game shows may seem cheaper to make since they are studio based but if the anchor is a big name the cost could be high. Currently, airtime is bought of ratings and advertising rates that channels offer. The weekend Television Audience Measurement (TAM) ratings similar to the TRPs, gauge the viewership demographics of various channels and programmes. The study helps media researchers identify the attention patters of channels, programmes or time slots. Creative heads in each organization constantly strive to come up with programmes which will keep the target audience glued to the television sets. Most often they experiment with anything seemingly fresh or just to publicize a non issue. What makes the TAM ratings even more crucial is the fact that the inflow of ads hinges on them. In short a channels success can be described as a crucial chain of captive programmes, increased viewership, higher TRPs, augmented inflow of revenue and therefore, better content generation. Reporters or their media might benefit from reporting controversy because controversial stories may be more engaging and easier to write. The 247 Trend News programmes are vying for attention with other popular programmes telecast in different channels. The biggest task for launching a satellite channel is programme software for round the clock. In this juncture, news gathering is a major task for the 24- hour news channels. To cater to the task, the emerging electronic channels have not only revolutionized the concept of news on the Indian television but have also changed the news formats. From local events to international events, breaking news to news analysis, television soap to page3 news, every happening comes under purviews of news. But the very nature of 24 hour news channels demands a constant feeding and re-cycling. The tyranny of the sound bite often reduces complex issues to ten second statements. Heads of news organizations agree that today cricket, crime and cinema dominate news. Unlike the print media they do not assume a public interests broadcasters role and thus, let the weekend TAM ratings steer content. Sensationalism Sensationalism in journalism has been a popular topic of fiery discussions for centuries. The word sensationalism is used loosely by people to criticize the media. Even in academic circles, the term has been used with little precision. The most common but vague classifications of the concept are by content: stories about crime, accidents, disaster, and scandal. A few scholars acknowledge that formal features may play a role in what we have come to call sensational, but precisely how the packaging of stories contributes to sensationalism remains virtually unexplored, especially in terms of television news. Data Analysis Below is the graphical representation of the Demography of people surveyed. Age 21 years and Below 3 22- 35 42 36 50 7 50 and above 3 55 As per Age Question 1: Effectiveness of documentary style reporting such as Satyamev Jayate. In the survey of this question it is found that 16% feel that the documentary style programs are not interesting or over analyzed, 36% feel that the reports are irrelevant and only 48% feel that the reports efficiently dealt with the social problems. Irrelevant 19 Not Interesting, over analyzed 8 Efficiently deals and fights with social problems 26 Very Useful 2 55 Question 2: About Breaking News / Exclusive news. 32% of the surveyed population feels that the current practice of showing breaking news is sensationalizing the news whereas 28% feels it is to increase the viewership, 24% feels it is to inform the audience and 16% dont care. Sensationalizing the news Increase the Viewership Informing the audience Dont know 18 15 13 9 Question 3: Effect of Soft News Style of Reporting If the news is framed into a more feature or documentary style it is found that it would not have any effect on the viewership of 63% whereas it would positively impact the viewership of 16% and negatively impact 21%. Positive 63% Negative 21% No Effect 16% Limitations: 1) Due to time constraints, the survey could not be carried out for a large and diversified population. 2) Our respondents are mostly professionals, students and faculty members. 3) This research is mainly based on media and in media. I have covered only TV channels and shows. The study has not included any radio, newspaper or other entertainment channels. Conclusion The sensationalism of news during the dawn of TV journalism in India has becomes the foundation of media professionals in present day and age. The missing investigative spirit, zeal of reporting and the absence of responsibility are all well thought-out to be reasons for these circumstances. The ethics of a journalist has been replaced by money minting thoughts combined with irrelevant media morals where the information is manipulated and spiced up to become the ticket to roof hitting TRPs. Interestingly enough, among the first few cases of news sensationalism is the William Hearsts case of 1898. William Hearst owned The New York Journal, his false reports and pictures resulted in the Spanish-American war. The war in turn resulted to the end of the Spanish domination in Cuba. The world never forgave him for his professional dishonesty, hence the media named him as the father of Yellow Journalism. Although the print media learnt to evolve their guidelines following criticism of its sensationalist stance, TV journalism continues to carry on this disgraceful tradition. In unstructured societies like India, where media is not subjected for fixing responsibility and holding accountability, there is considerable damage. Media now, is being measured less by how objective and credible it is than more in terms of the devastation it can inflict. Lack of organizational checks as well as the encouragement, has seen news being dramatized, as well as spicing it up to stimulate public interest. The result is that often these unverified facts compose a major part of the information telecast throughout the day, seven days a week. This has blurred the line between the do`s and donts of journalism. But Television News channels have certain areas where they have been consistently performing well, but taking to unfair means to lure people into increasing viewership is certainly wrong. They require considerable introspection which is important if media men are to stop contributing to conflicts and violence through sensational reporting. Inaccessibility and the involvement of violent interest groups force media men to stay away from the gory scene. These make journalists dependent on second-hand information gleaned from different sources. In such a scenario, quoting well-informed officials is a blessing in disguise to keep the information clock of the TV channels ticking. However, are media men justified in feeding half-baked and sensational information to the public? Does a political stunt, not corroborated by facts, provide the basis for solid news? Do journalists know that professionalism requires them to probe beyond the apparent facts? And do media men realize how insensitively the most sensitive issues are being dealt with? The answers to these questions require considerable introspection which is important if people from the media industry are to stop, consciously or unconsciously, contributing to conflicts and violence through sensational reporting. Bibliography: Aurthur Asa Berger Media Analysis Techniques. Learning from Jon Stewart: How Soft News Programs Inform Infrequent Consumers of Traditional News. Silent Eva Jayate by S. Anand Outlook-India Magazine -23-July-2012. Hard News, Soft News, and the gendered discourse of important and interesting Conference papers, International Communication Association. General News: The Necessity of Adding an Intermediate Category to Hard and Soft News 2004 Conference papers, International Communication Association. Factors That Impact News by Edd Applegate The Featurization of Journalism by Steen Stevensen Any Good News in Soft News? Markus Prior WEBSITES www.wikipedia.org www.jstor.org www.outlookindia.com http://www.indiaprwire.com/pressrelease/publishing/2009090232854.htm News Audiences Increasingly Politicized

Sectors Of The Hospitality Industry

Sectors Of The Hospitality Industry The hospitality industry consists of broad category of fields within the service industry that includes lodging, restaurants, event planning, theme parks, transportation, a restaurant, hotel, or even an amusement park. Hospitality industry covers a wide range of organizations offering food service and accommodation. The hospitality industry is a several billion dollar industry that mostly depends on the availability of leisure time and disposable income. A hospitality unit such as consists of multiple groups such as facility maintenance, direct operations, servers, housekeepers, porters, kitchen workers, bartenders, management and marketing. The hospitality industry is divided into sectors according to the skill-sets required for the work involved. Sectors include accommodation, food and beverage, meeting and events, gaming, entertainment and recreation, tourism services, and visitor information. Premier Inn is the UKs largest hotel brand, with over 40,000 rooms and more than 590 hotels. It is one of the biggest brand in hospitality industry. Premier Inns headquarter located at Luton, England, U.K. Originally opened by Travel Inn brand name in 1987. During the hard competition with other hotels, it has been owned by Whitbread. Premier Inn business spread in United Kingdom, United Arab Emirates, Republic of Ireland and India. Company office website is http://www.premierinn.com Hotels are found either in city centers or on the outskirts on major A-roads. Unlike its competitor Travelodge, they are rarely found in motorway service areas, concentrating on locations where they are allowed to serve alcohol. Ownership by Whitbread, historically a brewery, but now a pub and hotel chain, ensures that all Premier Inns, with the exception of motor side locations, have a pub/restaurant on-site serving alcohol Structure of Organization As per below is an organization structure A commercial enterprise would have Line, Staff or Matrix organisations, split into departments and specialists. Departments could include Buying, Marketing, Manufacture, Quality, Accountancy, Payroll, Design, Administration, Security, Maintenance, Distribution, Computing, Call centers, Retailing, Customer Care. History The company founded in 1987 by Travel Inn, in 2004 Whitbread acquired Premier Lodge for  £505 million, and merge an additional 141 hotels to the existing Whitbread hotels, re-branded all hotels as Premier Travel Inn, which was soon shortened to Premier Inn. March 2006 Premier Inn, the UKs largest and fastest growing hotel chain announced today that their Guest Recommend customer satisfaction survey has received its one- millionth-guest response since it was launched in March 2006. Location Premier Inn started in U.K., but its expansion in U.A.E., Ireland and India. Premier Inn is the UKs largest and fastest-growing hotel brand with 578 budget hotels and more than 40,000 rooms across the UK and Ireland. Competition The branded budget hotel market in the UK continues to be dominated by just two large players, according to new research by TRI Hospitality Consulting. Figures from Budget Hotels 2010 UK show that the biggest brand, Premier Inn, had 41,511 rooms at the end of 2009 which gave it a market share of almost 38%. The nearest rival to Premier Inn is Travelodge with 27,010 at the year end, giving it a market share of just under 25%. The top two budget hotel brands in the UK thus have more than two thirds of the market. The branded budget market in the UK is concentrated in just a few companies. But competition continues to flourish in the overall hotel sector as the branded budget hotels take on mid market hotels and guesthouses, said Jonathan Langston, managing director of TRI Hospitality Consulting. Since 1993, the number of branded budget hotel rooms in the UK has grown more than tenfold, increasing from 10,555 rooms to 109,528 rooms at the end of 2009. And while Premier Inn and Travelodge dominate, there have been many new brands entering the growing market. As above table showing us Premier Inn is on number 1 Position in the market. Behind this reason is hotel chain Premier Inn is using a revenue management system to improve visibility of occupancy levels throughout the year, and steer sales and marketing activities accordingly. As per above information premier Inn take over 35% of hotel industry in U.K. Under the new system, Premier Inn expects to improve occupancy, book more guests over less popular nights and reduce marginal costs. We wanted a revenue management system that could cope with the unique requirements of our business, said Warren Mandelbaum, head of revenue management at Premier Inn parent company Whitbread Hotels Restaurants. Contemporary issue In any business, biggest and important person is customer, if customer is satisfied then business make profit. Premier Inn fully focuses to satisfy the customer, Premier Inn bedrooms feature en-suite bathroom, TV with Free view, and Wi-Fi internet access. Premier Inn offers customers a money-back Good Night Guarantee of a good quality room, comfortable surroundings and friendly service, which is unique amongst Britains leading hotel chains. Recession impact As a report of produced by HotStats and published by industry newsletter Hotel Analyst, also makes clear that while resilient, the sector has not remained unscathed by the recession. During 2009, revenue per available room fell by 9.1%, with occupancy dropping by 5.9 percentage points to 67.8% and rate holding up better with a fall of 1.1% to  £50.97. The budget hotel market has truly been the hotel industrys success story of the last decade. While trading has suffered in the recession, new hotels are continuing to open, reflecting the long term viability of the segment, said Langston. The hospitality industry is a measure of the wealth in peoples pockets then the news is very bad indeed. The industry is facing one of its worst times in memory as pubs, clubs and restaurants close at an unprecedented rate. Insolvencies in the sector have risen by 95% in 2 years as people opt to stay at home and preserve their cash rather than splurging on luxuries like nights out, meals and other entertainment. A report by consultancy PricewaterhouseCoopers (PwC) showed that there were 281 business failures in the third quarter of this year, up from 175 last year and well ahead of the 220 insolvencies reported in the first quarter and the 212 recorded in the second. It was almost double the number reported 144 in the final quarter of 2006. As the downturn tightens its grip, it is easy to believe what we have seen so far is just the tip of the iceberg for hotels, Stephen Broom said. The report shows the historical development of branded budget hotels in the UK, also the report so gives demand figures by geographical region, by city and by market sector Hospitality industry is closely related to tourism. By the advent of global crisis, its easy to figure out that tourism industry is down. So, relating to that, one can say hospitality industry also suffers. Moreover, those who can still afford to consider the hospitality of the industry are busy with their works too as the crisis has put extra burden in their work life. Performance report -Year 2009/2010 As per above source UK chain Hotel, Higher staff costs hit profits at provincial hotels in the UK during August, according to the latest HotStats survey from TRI Hospitality Consulting. Revenue per available room rose year-on-year for the month by 1.5% but payroll costs as a percentage of revenue crept up by 0.5 percentage points and this helped cause Gross Operating Profit Per Available Room (GOPPAR) to drop by 1.2%. As a result, UK Provincial hotel performance was left languishing some way behind 2008 levels, following the 13.4% profitability decline during the same period in 2009. Development Strategy and progress Premier Inn clear strategy underpins our aim of building the best large-scale hospitality brands in the world by becoming the most customer-focused organization there is. 2009/10 strategic priorities Action Result Outperform market Developing detailed action plans to focus on our customers needs, and particularly on establishing our value for money credentials. All our businesses have outperformed in their markets. Reduce operating costs Streamlining management, improving the efficiency of back office processes and delivering a series of procurement initiatives. On track to achieve  £25 million of annual savings, with  £20 million realised to date. Achieve cash flow neutrality Prioritising cash management and working capital together with the sale and leaseback of five properties. Positive cash flow for the year of  £109.7 million, with net debt reducing to  £513.4 million. They growth is also increases, In year 2003/04 they have 18,173 rooms comper to this in year 2009/10 they have 42,799 rooms. So growth is 136% Predictions Premier Inn increase there budget for more development. In year 2009/10 15.0% budget sector value and in year 2018/19 budget sector value increase 22.0%. so as above figures we can get example of premier inn future plan. (Annual Report 2009/10, Whitbread PLC) Operational Management factors Operational In the hotel industry where excellent, consistent service is a key factor in success, standard operating procedures, or SOPs, play an important role. Identification A hotels standard operating procedure sets out the policies and protocols of a hotel in a written format thats easily accessible to hotel employees. A typical standard operating procedure has three parts: a purpose, or the clearly stated task the SOP details and what its expected results should be; a procedure, or step-by-step guide to tackling the task; and resources, including hotel staff, other employees or management and databases or other references. Function A hotel standard operating procedures purpose is to improve guest experience. Standard operating procedures do this by educating hotel staff on the best way to deal with a given situation, from fielding guest complaints to handling fire drills. By creating a guest service structure thats consistent and clearly thought out by top management, hotels can ensure a positive guest experience. Types Hotels might use several different types of standard operating procedures. Tool procedures focus on specific tasks that hotel staffers might have to deal with. Tool procedures may cover tasks that hotel staff is likely to run into every day, such as late check-out or temperature concerns, as well as rare circumstances, such as fire alarms sounding or elevator malfunctions. Rule procedures help hotel staffers deal with potentially tricky situations. Rule procedures may cover acceptable employee conduct, such as whether an employee can accept a cash tip from a hotel guest. Rule procedures also may cover guests in sensitive areas such as signs of smoking in a non-smoking room or a declined credit card. Job procedures clearly outline an employees role and responsibilities within the hotel so that expectations are clear. Benefits Management Financial Savvy The number one success factor for anyone in the hospitality industry knows how to manage company funds. Maintaining the proper ratios of labour, food costs, beverage costs and expenses is vital in todays economy. A successful manager will be expected to maintain and keep a strict monetary budget, be computer literate, be knowledgeable of profit and loss statements and labour to sales ratios and be able to keep food and beverage costs in line. Creativity Hospitality managers must be able to be creative, to think outside the box and come up with new, trendsetting ideas. They must also have the knowledge to get those ideas out there through word of mouth and advertising. Food specials, room rate reductions, family packages and other details need to be presented to the general public in a new, fresh manner through email, web sites, regular mail, radio or television. Multi-tasking skills A manager must know the basics of accounting, the fundamentals of food and service, current market trends, what the competition is doing, licensing procedures and fees, general human resource rules and regulations and much more. Teamwork A good manager will understand that he cannot do the work single-handed and will hire the right people to carry out the vision of the company. A strong accounting office, an excellent chef, reliable restaurant managers and supervisors, a loyal core staff with low turnover and trustworthy assistants are all essential in creating a profitable business. Vision The ability to foresee trends and capitalize on them is a true gift, as is the foresight to prepare for a slow economy. These abilities come from years of experience and exposure to different hospitality environments. A truly proactive manager will choose the most promising employees of the company and train them properly to keep the vision alive and strong. Impact on Staff Hospitality industry is developed largest number of jobs in UK, lots of opportunity comes for people to get jobs. As per below table show us hows the different hospitality businesses give jobs to people Hospitality businesses The industry continues to be dominated by small establishments. The hotel sector has the highest proportion of large establishment while the restaurant sector has most very small establishments. Between 1991 and 1998 the percentage of businesses with over twenty-five employees increased from 3 per cent to 4per cent of all establishments. There is now more employment in larger workplaces with 41 per cent of employment in establishments employing twenty-five or more employees, while 59 per cent of employees. Over the decade all sectors in the hospitality industry continued to grow, with the exception of hotels. Premier inn has 34,000 people serve over 9 million customers every month. And as the frontline of our business, premier inn are 100% dependent on our people to deliver our brand promises, day in and day out. Thats why premier inn only employs the very best people in the hospitality industry. Time to time staff responsibility change and more focus on customer satisfaction. Stakeholders The stakeholders in the hospitality industry include owners, creditors, guests, employees, suppliers, vendors, industry associations, government agencies, and community members. In starting of business stakeholders view point is Maximizing Shareholder Wealth, after time to time stakeholders view point is change and its A Wider Range of Objectives. In recent years, a wider variety of goals have been suggested for a business. These include the traditional objective of profit maximization. However, they also include goals relating to earnings per share, total sales, numbers employed, measures of employee welfare, manager satisfaction, environmental protection and many others. As per above effect on staff and stakeholders role and view point Premier inn get lots of benefits. Thats the reason Premier inn best brand in hospitality industry in U.K. and one of the best brand in the world. They also try to make same value in abroad like Dubai and India. Positive implications on Premier inn hospitality. The conclusion Premier Inn has best customer/key relationship, business continuity, funding, and strategy. So thats why they are top of the table in whole hotel industry in the U.K. In 2008 Premier Inn launched in Dubai and will be opening in India later this year. On a domestic front, Premier Inn is set to be the largest provide of budget hotels in London by the 2012 Olympics.

Comparison of The Tempest and Translations Essay -- The Tempest Transl

Comparison of The Tempest and Translations ‘The Tempest’ begins with a enormous storm and signifies a great change for the people of the island, but we do not learn until later on in the play that it is Prospero who has caused the storm so that the characters on the ship will be brought to the island. The opening scene is very dramatic and shows the inner turmoil and change that will occur for the characters involved, whereas it is also quite confusing for the audience as we are not aware of what significance the storm has, and what has caused it until later. Characters run frantically about in this scene and we are unaware of their purpose; the audience is not communicated well at the beginning as we are left uninformed of the situation. Just as in ‘Translations’ where there is also a lack of communication as Manus is trying to get Sarah to talk but as she is unable to talk she cannot express her feelings and thought to him clearly and so the communication between the two has been broken. Manus says, â€Å"Soon you’ll be telling me all the secrets that have been in that head of yours all these years†. When Prospero tells Miranda the story of where he came from and how he used to be the Duke of Milan but was usurped by his brother, he asks Miranda if she is listening properly to make sure there would be no broken communication between the two of them. He says, â€Å"I pray thee, mark me† and â€Å"Dost thou hear?† But Prospero does not communicate well and sometimes talks nonsense so that it is hard to understand what he means. Prospero explains that he gradually grew uninterested in ruling his kingdom and turned his attention more and more to his studies and books, neglecting his duties as duke. As he did not commun... ...ers have to take each of the Gaelic names and anglicise it, either by changing it into the approximate English sound or translate it into the English word, they feel they have had their identity taken away from them. Without a cultural background, or if people have their cultural identity taken away from them, they feel they have lost a sense of the person they are. Owen says, â€Å"My job is to translate the quaint, archaic tongue you people persist in speaking into the King’s good English.† This quotation shows how the English do not see the Irish as civilised people because they speak a different language that they do not understand. They think that they are doing the Irish a great favour and making them more civilised by Anglicising their places names and teaching them English. They do not realise they are taking away the Irish’s identity and background.

Authorial Opinion Of Wife Of Bath Essay -- essays research papers

The character of the Wife of Bath is clearly feminist. She indicates this by her extreme ideas of female â€Å"maistrye† and statements such as â€Å"I have the power duringe al my lyf upon his proper body, and nought he,† which is extremely feminist. However, Chaucer makes us see the Wife of Bath as inconsistent, at times illogical, and also amoral and adulterous, The prologue and tale is spoken by a woman of supposed vast experience, yet was written by a man. While the prologue and tale may be seemingly feminist, could it be a vehicle for a deeper anti-feminist message? The Wife of Bath had a strong argument in favour of marriage but is easy to fault. Her argument that marriage grows more virgins, while correct makes us wonder why she bore no children. And she also mentions the fact that â€Å"in wyfhood I wol use myn instrument† but her marriage did not seem to have stopped her from restraining her â€Å"Chamber of Venus from a good felawe.† The Wife of Bath confuses bigamy with remarriage and manipulates the arguments for remarriage to suit her purpose. Chaucer gives the Wife of Bath’s arguments less credibility The wife of bath strongly argued in favour of female â€Å"maistrye.† She argued this in the prologue and used the tale to bring the message home. Her arguments are weakened however by the destructive and careless behaviour of the Wife of Bath. She openly laughs at them (â€Å"I laugh whan I thinke†) when she thinks of how she made her husbands toil at night. She doesn’t seem to regret the...

Coca Cola Marketing Mix Essay

Soft Drink demand market is very strong all over the world. Now there are 2 major Company of Soft Drinks †¢ Coca Cola †¢ Pepsi Co they are competitors to each other. The world’s largest beverage’s company Coca Cola began more than a century ago. The Coca Cola company world headquarter is at Atlanta Georgia, USA. Formation of Coca Cola company was in a simple way, but today it is spread worldwide. It has a Wonderful history and an exciting future. From sometime before 1970-s Coca Cola had started doing business in India. But due to changes in the policy of Indian Government, Coca Cola had to wind up its business from India in 1977. After 16 years, in 1993 it again started doing business in India through one of its subsidiary company Coca Cola India Private Limited. It gradually went in for merger by acquisition the various well known products to stop the direct competition from the local market. Coca cola is the brand with the highest brand equity. No doubt it has gone through the ups and downs of business to reach that position. The marketing mix of Coca cola has been changing over time with more and more products being added such that today it has 3300 products. So what is the marketing mix of Coca cola? Product The company has the widest portfolio in beverage industry comprising of 3300 products. Beverages are divided into diet category, 100% fruit juices, fruit drinks, water, energy drinks, tea and coffee etc. As per Nielson’s data, Coca cola is the No.1 brand in sparkling beverages, juice, and retail packaged water in 2010. Coca cola has its market presence around 200 countries. Coca cola brands in India are Fanta, Maaza, Limca, sprite, Thums up, Minute Maid, Nimbu fresh, Nested iced tea etc. Coca-Cola made its return to India COCA – COLA in 1993 and made significant investments to ensure that the beverage is available to more and more people, even in the remote and inaccessible parts of the nation. Sprite has not only established itself as a brand which successfully boasts it’s ‘cutthru’ perspective with an authentic, edgy, irreverent, urban and straight forward style, but has also achieved status of an undisputed youth ‘badge‘ brand. Fanta entered in the year 1993. Perceived as a fun youth brand, Fanta stands for its vibrant color, tempting Taste and tingling bubbles that not just uplifts feelings but also helps free spirit thus encouraging one to indulge in the moment. Limca has remained unchallenged as the No.1 Sparkling Drink in the Cloudy lemon Segment. The success formula is the sharp fizz and lemoni bite combined with the Single minded proposition of the brand as the provider of â€Å"Freshness†. Maaza has today come to symbolize the very spirit of mangoes. Universally loved for its taste, color, thickness and wholesome properties, Maaza is the mango lover’s first choice Price Due to the availability of wide range products the pricing is done according  to the market and geographic segment. Each sub-brand of coca cola has different pricing strategy. Their pricing strategy is based on the competitors pricing, Pepsi is the direct competitor to coke. Beverage market is said to be a oligopoly market (few sellers and large buyers), hence they form into cartel contract to ensure a mutual balance in pricing between the sellers. Price strategies are important to Coca Cola because the price determines the amount of sales and profit per unit sold. Businesses have to set a price that is attractive to their customers and provides the business with a good level of profit. Long before a sale was ever made Coca Cola had developed a forecast of consumer demand at different prices which inevitably determined whether or not the product came on the market, as well as the allocation of adequate money and resources to produce, promote and distribute the product. Place Coca cola is the world’s most favourite brand and is available all over the world. The distribution system of coca cola follows the FMCG distribution pattern. The effective distribution network of coke has almost eroded the small and middle level players in the market. In India they have captured even the rural market by extensive distribution and have eroded the market share of Bo onto, Kalmar etc. Promotion Coca cola adopts various advertising and promotional strategies to create an increased demand in the market by associating with life style and behaviour and mainly targeting value based advertising. You are more likely to see a coke ad individualised for a particular festival or in with a general positive message. Coca cola uses CSR as its marketing tool to gain emotional benefits in consumers mind. The current promotions through CSR include â€Å"Support my school† campaign with NDTV. It has many brand ambassadors like Shahrukh khan, Hrithik Roshan, South Indian Actor Vijay and Trisha , Ghambir, Aamir khan etc and has signed contract recently with Imran khan. It allows price discounts and allowances to distributors and retailers in order to push more products into the market. It employs both push  strategy through promotions and pull strategy through advertisements and campaigns. Company introduces different themes and concepts to sell their product and advertises mainly in electronic media and out of home advertising. These advertisements build brand image and create awareness. ïÆ'ËœBig names of Indian film industry mainly become the brand ambassadors of the Company. ïÆ'ËœThroughout the years, the slogans of the Coca-Cola have been memorable. For E.g. Thanda Matlab Cola-Cola Jo chaho ho jae Cola-Cola enjoy Coca-Cola-Piyo sir utha ke Brrrrrrr!!! Coca Cola on a regular basis Advertise through Billboards, Hoardings. They occupy the prime locations of the Urban and Semi Urban areas to advertise their products †¢ Bill Boards are used on Highways, main City roads, Across big buildings, Shops etc. †¢Also in India the Coca-cola can be seen painted on walls, bus stands, dhabas etc focusing in rural areas if India Coca-Cola uses direct marketing in many ways. First, the company partners with various restaurants, movie theatres, etc. to carry its product. This way, when a customer orders a drink, the only brand they are offered is Coca-Cola, which forces them to buy a drink from that brand. By doing this, Coke forces out other competition, and keeps the restaurants, or other businesses, purchasing their product over and over again. E.g. Mc Donald’s. According to mobilemarketingmagazine.com, Coke uses mobile graphics and texts to appeal to markets on a more personal level. Coca Cola also sponsors various sporting events in India and around the world in major sport events like Cricket, Football, Hockey, Olympic and Motor Racing etc. Coca-Cola uses the internet to promote its products. The company has its own website, which is quite simple to navigate through. The website allows customers to become interactive through various games, contests, shopping, and through a special section of the website that enables consumers to find out how they can help their community. ïÆ'ËœAlso in the modern era of communication and networking, the company uses various social networking sites like Facebook, YouTube, Twitter to connect with the consumers. The  internet marketing thus helps to reach to those consumers who can’t afford to spend time on T.V and are always online

One Nation Under Corn?

A position paper done in fall of 2012 on the cause and affect of the industrialized corn crop. I decided on this subject after my own battle with illness. This battle, ended up changing my diet, and my life as it turns out. I have almost completely removed any corn derived product from my life (all-be-it difficult sometimes) and am a proponent of a purely organic vegetarian diet. One Nation Under Corn? Chad Cribb DeVry University One Nation Under Corn One of the many freedoms we enjoy in this great country is the freedom to choose what you will eat and when you will eat it.Pull up to your favorite fast food burger restaurant, and little thought goes into the entire process. From the drive there, to the ordering of your food, and the packaging they are contained in. When we think more about it, as Michael Pollan did in his book, â€Å"The Omnivore’s Dilemma†, there is a whole lot more going on. Pollan dives deep into the heart of our nation’s fascination with the corn crop and its many uses. Corn started out as a crop grown to feed its people. But in this day and age, very little is actually eaten. Corn has become a giant in the food industry, at a low price; thanks in part to the government help.We started this nation as one based in principle and in the pursuit of freedom†¦. and now it seems†¦ corn. But who is the real beneficiary of this corn crop? And just as important†¦who are the losers? Corn has been around since recorded history and has played a major role in trade and many complex social societies. Corn’s spread across the globe began after contact between the European colonial powers and indigenous peoples of North and South America. It continued on to Africa during the slave trades and was used to actually pay for them. What’s more, it was a source of power for the African middlemen involved in the slave trade.Fast forward now to the 1940’s and 1950’s as corn and corn based foods became c rucial in the agriculture market to sustain military troops during the war. It was after the war that America saw a huge surplus in corn yield partly due to the new hybrid seeds and fertilizers that had recently been manufactured. This surplus had a dramatic effect on the market and the market prices. It was these prices, over the years that caused unpredictable price swings (Wise 2005-9). As our population has increasingly grown thru the years, our need for more food has increased along with it.The polarity between the two was unbalanced and by using the free market approach, farmers regularly had booms and busts in the market. Making farmers the target of continued and increasing depressed prices in their crop. The government soon stepped in with â€Å"The New Deal†, in order to bring supply into line with demand, an approach known as â€Å"supply management† using conservation set-asides, a price floor guaranteeing a fair price (like having a minimum wage), and a gr ain reserve to deal with overproduction. What was not widely known, it appears, is the corporate-world began lobbying for a free market approach again.Beginning in the 1970’s, they used the World Food Crisis and the Russian Wheat Deal to validate their argument to government. Coupling that with the notion of â€Å"getting government out of agriculture†. The result of that was that prices collapsed by the late 1990’s and the government had to bail out farmers with millions in emergency subsidy payments. Prices completely collapsed shortly after the 1996 Freedom to Farm Act, causing expensive taxpayer bailouts. By 2000, subsidies provided 49% of farmers’ net income. This has helped the corn industry to comprise 95% of all food grain produced in America (USDA 2010).The government’s well-intended approach to help â€Å"prop up† the industry, in fact, created a market dependent on the very subsidies that were created to help it. Between 1995 and 2006, the government paid out $56 billion in corn subsidies (Wise 2005-12). What’s more, it helps create a market monopoly. With only 3 companies controlling 90% of the corn market, 2 companies controlling the corn seed market, and 4 companies controlling the high fructose corn syrup industry, the answer should be clear. But as Pollan points out, â€Å"It’s not about who is profiting, but rather who is suffering† (Pollan 2006).Most of what we see in the news is the emphasis placed in the trials and tribulations of the farmer, for the benefit of the consumer. But is it really the consumer who benefits? If the price of food per calorie is the magic calculation, then the answer is yes. But if the average weight per person is, then the answer is no. As the corn industry exploded and the number of companies shrank, corn began a new transformation into other parts of the food industry and more. This came in the form of high fructose corn syrup (HFCS), gasoline additiv es, plastics, and cattle feed to name a few.Cattle feed now encompasses over 50% of the industrialized corn produced in America (Wise 2005-11). The increase of this has helped create the perpetual cycle that has infested the industry, and moreover, the agricultural policy that affects it. The overproduction of corn has led to an overconsumption of corn; mostly in an indirect way. America’s agriculture and international trade policies have created an environment that breeds monopolies and corruption. Big business lobbyist has taken hold in an industry that believes in the â€Å"bottom line†.This philosophy has squeezed out the once popular sugar cane, and ushered in the cheaper, easily produced, HFCS for its products. Because the government has placed so many incentives on the production of corn, other more healthy crops have been left behind. Crops like fruits, vegetables, and whole grains have quickly become a thing of the past. The relationship between government and business has become as unhealthy as the population consuming the products they produce. At one point, it almost looks like the industry wanted the market to crash and the government to step in.One would ask why anyone would want that. Because subsidizing the industrial crop ensures it stays at a cheap price for one. Secondly, the corporations who buy corn to turn into high fructose corn syrup (used in almost every food product) or as feed for livestock, or ethanol for vehicles operations have profited by the billions. Thirdly, the corporate consolidation of our food system as whole. When you think about it, it reaches thru banks, seeds, fertilizers, grain traders, food processors, manufacturing plant, to retailing. Walsh says, â€Å"This kind f uncompetitive market squeezes the farmer on both sides† (Walsh-2009). This notion seems to place a lot of blame on the subsidies themselves. My contention is that subsidies are not the problem with our food system, but merely a produc t of a broken system. To fix the farm policy, legislators must first have a clear understanding of who wins and who loses under the current system and why. Also, the high tariffs placed on sugar cane need to be downsized to allow for balance in the market. But this is a prime example of how the government’s intention to help has unintentional consequences.I believe that the root of our problem today is the â€Å"clinging† to a free market food system. One that allows commodities like corn to be priced so low that would allow big business to develop monopolies over farmers and corn while reaping huge profits because of cheap corn. America now spends less of our income on food than any other generation in history (Pollan-2002). When you look at it in perspective, the agriculture our grandparents helped build was now growing fast food. This affecting our wallets, farmlands, and waistline.Some may say that our waistline and rate of disease are due to laziness and other fac tors. I disagree. I believe they are a direct relation to cheap, processed food made by cheap, industrialized corn. In order for us to decrease the consumption of corn, the government needs to cease its subsidizing of it. This will do two things. One, it let the markets adjust themselves at a rate that creates dependence on itself rather than assistance. Two, tighten the ability of lobbyist to affect change in agriculture and government policy that increase benefits to the very few.The bottom line here is this; big business reaps profits at the expense of the farmer. And the consumer? Well†¦. we are just scenery it seems in this great manipulation of industrialized food industry. And as I see it; in an economy where every dollar counts, doesn’t it make sense for the government to hang onto theirs? Pollan, Michael. The Omnivore’s Dilemma. â€Å"A Natural History of Four Meals†. April 2006 This well-known book has been called an â€Å"eater’s manifest o† by critics and peers alike. Pollan, Michael. What’s America Eating? Smithsonian, June 2006. Retrieved on October 4, 2012 http://michaelpollan. om/articles-archive/whats-eating-america/ An article, written with a chronological touch, that takes reader from â€Å"soup-to-nuts† on the history of corn and how it came to western America. Pollan, Michael. When Crop Becomes King. NY Times. July 2002. Retrieved on October 1, 2012 http://www. organicconsumers. org/toxic/toomuchcorn071902. cfm An article written in a way that is easily understood for most. This article describes Zea Mays (original term) from Central America to what we know today as corn Walsh, Bryan. â€Å"Getting Real About the High Price of Cheap Corn†.Time Magazine. August 21, 2009. http://www. time. com/time/magazine/article/0,9171,1917726-2,00. html Walsh is a senior writer for Time Magazine and a correspondent for the last 8 years Health Journalism Fellowship from the Center for Disease Con trol Foundation. As part of this fellowship, he attended training at the U. S. Centers for Disease Control during summer 2010. Wise, Timothy. Identifying the Real Winners from US Agricultural Policies. Tufts University. December 2005. Retrieved October 1, 2012. http://www. ase. tufts. edu/gdae/Pubs/wp/05-07RealWinnersUSAg. pdf

A life of designs

Like many children growing, I was in a quandary on the career path that I would take once I entered college. Looking back, many paths seemed to open for me, all as enticing as the others. But in hindsight, I guess I wanted to follow in the footsteps of one man, my father. His vocation was that of a designer.Since I could remember, I could see myself with him in his office as he worked at his job as a software designer. It wasn’t easy for me, but my mom kept telling me how integral my father was to the company. My father taught me the value of enterprise and industriousness in the job that he was going to do.That was one trait I would ever give credit to my father for teaching me that one value. I believe that passion is not acquired; it is the result of endless hours at honing one’s craft and looking for ways to improve oneself.But my father was not all work; he taught me also to be versatile in life.   To my surprise, my father also had endeavors in a variety of acti vities. Among them were guitar playing, sketching images of still life and rendering designs for furniture.He taught me that one’s life needs to find a sense of balance, not that he didn’t enjoy his work, but I guess that his creativity needed to have release valves, if you will, so that he can work at his â€Å"day† job.Once I arrived in college, finally knowing my life’s vocation to be a designer, one could feel a sense of being awestruck with it all. The pressures of meeting deadlines, accomplishing all the projects and the homework, and then some, tend to take the wind out of one’s sails. Fortunately for me though, I met another influential figure whom would aid me in my quest to become a designer. His name was Professor Joseph Velasquez, or simply â€Å"Pepe†.Professor Velasquez, or Pepe, was very influential in the cultivation of my talents as a future designer. He patiently worked with me in all my subjects and projects, like a guidin g, and sometimes stern, hand to bring out what was inside me, all that passion I had inside of me. In all of the three years I had stayed in college, I would say that not even my non major subject mentors had had such a profound effect on me as Professor Velasquez.In fact, many of the students always sought a meeting met with him after class and studio that I had to wait an average of two hours just to get to talk to him. I hope that one day I will be able to impart the knowledge he graciously and sacrificially gave us to future designers if I get the opportunity to teach at this learning facility.As with all students in college, we all dream of becoming like our icons someday, people who we admire and wish to imitate even in the slightest way. For me, that was my all-time favorite artists, Craig Mullins. Mullins would be for me the embodiment of what I strive for as an artist and as a designer.Mullins, in my opinion, has the capacity in inducing that emotion in his concept arts wor ks and his paintings that make him a cut above the rest.   His medium in provoking that emotion is born out of his choice of colors and his composition of his work. Sometimes, when I encounter a â€Å"block† in my artistic flow, I would consider what Mullins would do for the piece.

People Moving

First, Jobs is the first reason according to the national statistic in Venezuela for moving because some people try earn more money or make a new business in order to get best economic benefits for their families. Moving for Jobs is a good situation for your family if you want to learn about different culture. Other people move to other place to leave poverty behind, while others seek better Jobs opportunities. Second, Safety Is a good reason for people to move to other place because some ties has a lot of problems on their neighborhood Like crime, kidnapping, and drugs.Crime rates across the cities could be the most important fact that people consider to move to other place. Many people relocate for safety reasons connected to their families or quality of life. People also move to a new area to start over or move to a different country that can provide you a safety place to live. Third, Education is an important reason to move because people like the best options to choose in educat ion for their families. Many student when they finished high school leave to other city, state or country in order to get better skills in the best universities.This could happened because not all the college or universities have a lot of diversity of careers. Other cities or countries are attired with a huge range of educational opportunities or no matter what, students can get themselves enrolled In any of them In accordance with their preference levels. People will be moving every time. Economic reasons have always been among the main reasons to move. Life in poverty ND despair often forces people to search for a better life.Some people give high emphasis on high standard of living. It is often seen that parents send their children abroad to attain a better lifestyle. By Vicky-Rica 11/06/2014 Second, Safety is a good reason for people to move to other place because some cities has a lot of problems on their neighborhood like crime, kidnapping, and drugs. Opportunities or no matte r what, students can get themselves enrolled in any of them in accordance with their preference levels. People will be moving every time.