Case Study Analysis - Tiffanies Example | Topics and Well Written Essays - 750 words

Analysis - Tiffanies - Case Study Example The sale of â€Å"fine† jewelry accounts for only a small percentage of the overall sales and profitability for the firm; however, it continues to represent a lion’s share of the overall investment, research and development, and product space that such items receive within the Tiffany branded stores. Tiffany’s is seen by consumer markets as representing on extremely expensive pieces of fine jewelry; this somewhat reduces the degree and extent to which it can hope to engage consumers within other markets. Solution a: Activate an aggressive marketing campaign that alerts consumers that Tiffany’s provides for the needs of a diverse group of consumers; not only those that are within the highest socio-economic category. Solution b: Begin slowly phasing less expensive products into the product mix and hope that the consumer base will respond positively by means of gradual osmosis; continuing to utilize the 18 month product cycle previously defined. Solution a: Promote a strategy that engages consumer awareness that Tiffany’s physical location only represents a portion of what the firm has to offer and that online shopping as a manner by which everyone else that does not live in close proximity can enjoy their products. Solution b: Begin to alter the brand marketing approach so that Tiffany’s will not only be marketed within certain select forums. This will encourage a re-integration of understanding in terms of what the firm represents and how. Solution b: Discontinue existing and outdated marketing approaches that have placed a disproportional focus on word of mouth and status advertising; as these are outdated and insufficient to reach emerging markets. Solution a: Whereas almost all other luxury brands have engaged with the Chinese market thoroughly, Tiffany’s only represents 10 stores in this nation of over 1 billion people – indicating a situation in which potential for profitability and market space within China

Apush Outline Essay Example for Free

Apush Outline Essay The Bonds of Empire, 1660-1750 o Rebellion and War, 1660-1713 ? Before Restoration (1660), England made little attempt to weld colonies ? Royal Centralization, 1660-1688 †¢ Restoration monarchs disliked representative government †¢ Charles II rarely called parliament into session after 1674, and none after 1681 †¢ James II wanted to rule as absolute monarch o Meant he would never face an elected legislation †¢ These 2 kings had little sympathy for Am.   RI, and Plymouth into Dominion of New Eng. o 1688= NY and the Jerseys came in o Sir Edmund Andros became governor of Dominion of New Eng. ? The Glorious Revolution in England and America, 1688-1689 †¢ Charles II converted to Catholicism on deathbed †¢ Eng. olerated James’ conversion to Catholicism b/c his heirs (Mary and Anne) were Anglican †¢ Bloodless revolution of 1688=Glorious revolution o Created limited monarchy in Eng. ? Promised to summon parliament once a yr. , sign all its bills, and respect traditional civil liberties o William and Mary (now king and queen of eng. after they overthrew James) dismantled Dominion of New Eng. o NY rebelled with Leisler’s Rebellion ? The Enlightenment †¢ In 1750 the Enlightenment’s greatest contributions to Am. life still lay in the future. A quarter-century later, Anglo-Am. drew on the enlightenment’s revolutionary ideas as they declared their independence from Britain and created the foundations of a new nation †¢ It was an age of optimism, tempered by the realistic recognition of the sad state of the human condition and the need for major reforms. The Enlightenment was less a set of ideas than it was a set of attitudes. At its core was a critical questioning of traditional institutions, customs, and morals. ? The Great Awakening †¢ In New England, the Great Awakening was influential among many Congregationalists †¢ In the Middle and Southern colonies, the Awakening was influential among Presbyterians and other dissenting Protestants. †¢ A time of increased religious activity. The revival began with Jonathan Edwards, a well-educated theologian and Congregationalist minister from Northampton, Massachusetts, who came from Puritan and Calvinist roots, but emphasized the importance and power of immediate, personal religious experience. †¢ Edwards’ sermons were powerful and attracted a large following. o Sinners in the Hands of an Angry God, is his most famous sermon. †¢ The Methodist preacher George Whitefield, visiting from England, continued the movement, traveling across the colonies and preaching in a more dramatic and emotional style, accepting everyone into his audiences.

Sources Of Competitive Advantage Tourism Essay

Sources Of Competitive Advantage Tourism Essay Abu Dhabi is the capital city and largest out of the seven emirates of the UAE; it constitutes for 85 of the UAEs total land mass. It is home to just over 613,000 people. However, it is the second largest city after Dubai. Over the recent years, Abu Dhabi has evolved into an international conurbation. It is the epicenter of the UAEs political and industrial activities. The city is also home to prime officials, such as the royal Emir Family and the United Arab Emirates central, federal government. Abu Dhabi is considered to be one of the worlds largest producers of oil and a pantheon for regional commerce. Abu Dhabi has been recently putting in tremendous effort to actively diversify it economy through multiple investments in financial services as well as the tourism sector. From the tourism perspective, Abu Dhabi is considered to be one of the worlds most fastest growing tourism destinations. Also, it is deemed to be a city that offers its visitors an opportunity to experience a comb ination of culture-rich tradition, modernity, adventure, and utter relaxation. Alongside that, Abu Dhabi is also a place where people can experience aesthetic beauty both in terms of the natural landscapes and contemporary architectural designs. In addition, the Abu Dhabi International Airport has also been ranked among the best airports in the Middle East region. Given its blissful beaches, luxurious hotels, and all-embracing shopping experience, Abu Dhabi is an ideal destination for tourists and visitors. Destination Mission: Abu Dhabi has set long-term goals with respect to its tourism plans and priorities. Bearing in mind its initial plans of development and sustainability, the tourism sector in Abu Dhabi plans to achieve certain key strategic goals over the next year. According to the Abu Dhabi Tourism Authority (ABTA), they are aiming to collectively building a world class tourism destination (http://www.abudhabitourism.ae, 2012) via developing an extensive range of products that fulfill the needs of their target markets, and by developing some form of awareness with regards to their target market and by creating the necessary level of proficiency in the marketplace. From our standpoint, our mission is to create a marketing plan that will promote Abu Dhabi as an exceptional and globally recognized tourism destination. Abu Dhabis Competitive advantage: As Abu Dhabi continues its growth, it has managed to gain competitive advantage a customer base as well as on a product/service base and that is through enhancing the citys infrastructure to reduce traffic, build a more environment friendly city (Masdar City), and the biggest yet to come, the metro. Abu Dhabi reflects a relaxed yet sophisticated lifestyle. Its a busy city and a very important business hub but yet maintains a quiet life unlike Dubai which is the city that never sleeps. And it is all in line with Abu Dhabis vision. It has become the perfect holiday getaway along with pleasure with business where now a business trip can also mean a good time for the family as well. Sources of competitive advantage: Etihad airways UAEs second national carrier and one of the leading award winning airline, offering the best services for their customers and projecting Abu Dhabis true hospitality. Having top notch services in the aviation industry gives tourist their first best experience in Abu Dhabi as soon as they choose them as a way to get there. Experience: For these seeking a unique thriving experience these are some of the thing to do while in Abu Dhabi: Yas Island: just an hour and a half away from Dubai hosting state of the art hotels, F1 races in Yas Marina Circuit, residential area by the beach, and fun family time in Ferrari World. Get the chance to ride the track in Yas Marina Circuit. Abu Dhabi islands: Saadiyat Island if relaxation and resorts is what you need, and Sir Bani Yas to explore UAEs natural preserve and largest island, as well as Delma Island, holding the Gulfs most important pearl diving centers. Desert balloon expeditions Helicopter tours Cruise tours Sports and Recreation: Sports lovers will have a great share of excitement in Abu Dhabi with some out of many of activities for them to do such as: Golf Water sports and sailing Motor Sports and karting Off-road driving Shooting Fishing Diving Horse riding Tennis; with Mubadalas World tennis championship. Shopping: Shopping lovers and fashionistas will indeed have a great shopping experience in Abu Dhabi and these are some of the places and goods they can shop for: Best buys and bargaining Shopping malls Carpets Art Arabian and local souvenirs (Sougha) Luxury retail Traditional markets and souks Gold jewelry Culture and Heritage: A famous quote is exchanged between people in the middle east and to be specific within the Arabian Gulf region: one who doesnt have a past, doesnt not have a future, and from there we take on the words of our late leaders and visionaries to illustrate how the Emirates and Abu Dhabi to be exact takes its steps in growing and blooming. Hence, Abu Dhabis heritage villages theme park, and archeological sites in Sir Bani Yas illustrate the UAEs rich culture and heritage. Other Amazing Must-See Sites: Masdar City and Masdar institute: a place on almost everyones destinations list to see the completely sustainable building and environment friendly city. The Grand Mosque: one of the largest mosques featuring amazing Islamic architecture. The grand mosque has the capacity to host 41,000 worshippers, 82 domes, over 1000 columns, 24 carat gold gilded chandeliers and the worlds largest hand knotted carpet. Emirates Palace Al Ain Zoo Arabian Wildlife park in Sir Bani Yas island Course Project Focus: In the course project focus we would like to move away from the clichà © of Abu Dhabi being a business hub only and home of embassies and consulates, and go beyond that. Abu Dhabi is indeed much more than that. Its a vacation destination everywhere you look around beginning with Abu Dhabis cornice to Al Ains Oasis city, and not to mention the western region of the Empty Quarter desert in Al Gharbia for the adventure seekers  [1]  . We will construct a marketing plan to change our audience perception of Abu Dhabi and gain more attention and tourism attractiveness and shape tourism in Abu Dhabi, as well as to meet the goal of Abu Dhabis Economic growth vision in 2030. Section 3: SITUATIONAL ANALYSIS Industry Analysis: For the UAE as a whole, the tourism sector had another good year in 2011, although annual growth in foreign tourists slowed slightly to an estimated 11.0%. BMI anticipates a slowdown in the sector over the short term, with growth in arrivals forecast at about8% in 2012 (raised slightly this quarter). Growth in visitors from Europe to Dubai has been weak in recent years. Continuing favorable opportunities exist for the UAE to exploit regional tourism growth, such as from Saudi Arabia. The tourism industry has also become a notable bright spot for the construction sector. The most recent figures for Abu Dhabi for January-July show the emirate welcomed 1.37mn hotel guests, an 11% increase over the corresponding period in 2011. The already burgeoning tourism sector appears to have benefited from the Arab Spring, with tourists attracted away from other locations in the region. Given the ongoing instability, there is potential for the industry to benefit further in this regard. Annual tourist visits is expected to rise from 1.8 million visitors in 2010 to 2.7 million by 2013 and to 7.5 million by 2030. Every aspect of the strategy works towards showcasing Abu Dhabi as an exclusive, high-end tourist destination where visitors can engage in world-class business and relax. SWOT Analysis: TOURISM IN ABU DHABI ENVIRONMENT EVALUATION INTERNAL STRENGTHS Base to a large number of leading corporations in the world Presence of leading luxury hotels Easy access worldwide due to close proximity of Abu Dhabi Intl Airport Well laid out and congestion-free streets Wide array of destinations and events for a family holiday WEAKNESSES Lacks the luster and glamour of neighboring Dubai Development and implementation of projects is slow Does not cater much towards young single adults. EXTERNAL OPPORTUNITIES Rising global position of the region Presence of natural resources (petroleum) Ever expanding globalization THREATS Rise of other oil states like Qatar and Kuwait Disturbances in the region Overview of SWOT Analysis: The SWOT analysis sums up the strengths and weaknesses of the tourism industry of Abu Dhabi. The above table shows us that the tourism industry in Abu Dhabi has the potential to grow and become one of the largest in the region. Being the Capital of the United Arab Emirates has made Abu Dhabi home to most of the head offices of leading global corporations in the region. The large number of luxury hotels makes Abu Dhabi a prime location to host business events and conventions. Abu Dhabi caters to families also by having a variety of cultural destinations as well as those that cater to fun. The Ferrari world in Abu Dhabi, The upcoming Yas Waterpark, The Grand Prix and rock concerts such as Creamfields is an attraction that pulls in lots of fun seeking crowds. Abu Dhabi unlike Dubai lacks certain glamour, with tourism and business not being the prime source of income, the implementation of projects is quite slow. Dubai and other oil states in the MENA region are therefore a competition t o Abu Dhabi that cannot be ignored. Competition: Competition for tourism in Abu Dhabi involves both local and international level competition. At the local level, it faces tough competition mainly from its sibling Dubai the Las Vegas of the middle east. Abu Dhabi has announced new ambitious tourism targets, complemented by a US$30 million marketing budget and huge infrastructure projects, and it is opening up representative offices around the world and attending world travel fairs. The emirates ambitions would appear identical to Dubais but this sibling wants to be different. However the end product differs from Dubai, Abu Dhabi is now throwing impressive figures into the mix in a bid to attract an estimated U$11 billion in tourism projects by 2015. Ultimately Abu Dhabi may develop a superior tourism product to Dubai, buts its path to achieve this will follow Dubais development example, which has shown what you can achieve with a well-coordinated and funded marketing approach. On the other hand, Abu Dhabi faces solid competition from the other metropolitan cities around the world and renown for tourism. Abu Dhabi has still not turned out to be a popular word among the people around the world and this is what Abu Dhabi needs to aim at. With strong marketing strategies and effective implementation along with determination, Abu Dhabi can definitely reach this goal with top rankings in the worlds best destinations. Customer Analysis: The customers in a tourism industry are nothing but the tourists. These tourists visit a county for either of the two purposes Business or Leisure. Abu Dhabi, being a place which was known for standing up during the recession period and still booming in the market at a good rate with a lot of upcoming projects proves to be a good attraction to business entrepreneurs around the world. Abu Dhabi should definitely focus more on attracting customers who visit for business purposes. At the same time, families and other people who need to take a trip for fun could satisfy themselves in Abu Dhabi with the numerous attractions. Abu Dhabi has attractions for all the age groups and if people know more about the attractions and events in Abu Dhabi, theyll definitely not miss out on these. People nowadays are becoming more aware of and interested in tours and Abu Dhabi has very good potential to cater to the interests of all age groups. Abu Dhabi has enough to serve both the types of customers very well and this is what that makes it an effective place for tourism. Section 4: SEGEMENTATION, TARGETING, AND POSITIONING (STP) Market Segmentation: When it comes to tourism planning and strategy formulation, it is of utmost importance to segment the market prior pursuing a course of action or marketing plan. Market segmentation refers to breaking down or classifying the market at hand into submarkets or segments based on certain characteristics or aspects. Such characteristics (demographics and psychographics) may include age, purpose of travel, and opportunities available to them. In our case, promoting Abu Dhabi as the next big tourism destination, the tourism market can be broken down into several segments. The first main segment is families, which consist of parents and children- perhaps also young adults within the household- and even senior members like grandparents. This segment can be further divided into different age groups. For example, this classification can be done as follows: toddlers and children ranging from the age of 5 to 12, teenagers and young adults starting from 13 years of age up to 19, a youth category w hich encompasses the younger generation (i.e. 20 to 29 years old), and lastly the adults or seniors which are mainly above the age of 30. The second main market segment would be the business travelers. As mentioned earlier in the project, Abu Dhabi is a regional hotspot for business opportunities and investments. Thus, it can attract potential businesspeople. As a result, it is important to consider professionals as a segment within that particular market. Lastly, a third possible segment could be individual/pair travelers such as bachelors, singles, newlyweds (honeymooners), couples without children, and finally, retired or senior couples. Target Market Identification: To target a particular segment, a particular destination must prove what is has to offer to be of value to the targeted market. In this case, we believe the predominant target market would be families. There are many reasons why Abu Dhabi would consider promoting itself to families, and conversely, there are many reasons why families might consider Abu Dhabi for their next vacation spot. When firms are marketing a certain product or service, the consumer must understand what the product or service uniquely offers to them compared to that of its competitor and what added value it provides. Similarly, a tourism destination must offer its tourists a unique experience in every regard. It is easy for a family to pick a destination that has amazing parks, state of the art resorts, and large shopping malls, but the question is, what is so different about a beach in Salalah, Oman, a resort in Sharm El Sheikh, Egypt, and a shopping mall in Dubai, with what Abu Dhabi has to offer? What is it e xactly that pushes a family to visit one place over another? The answer is value and experience. The experience and joyful memory is what stays with a person, especially after a trip or vacation. Abu Dhabi is home to many things that a vacationing family would be on the lookout for. There are many activities that one can do both indoors and outdoors. A business man flying to Abu Dhabi to close some deals can worry no more about leaving his family back home. While hes busy during the day his wife can take away the kids to Ferrari World, or if theyre a couple with no kids, the wife can go out shopping or enjoying a relaxing spa day in Saadiyat island resort. Nevertheless, business and pleasure has become a very do-able thing in Abu Dhabi where business partners can take a cruise along the sea, golf, or competing on the tennis course while discussing work. What makes Abu Dhabi different is that the visitors do not have to worry about getting stuck in traffic while getting from one place to another. The activities venues are very spread out all over Abu Dhabi beginning with Yas Island, just an hour and a half away from Dubai, to Al Gharbia the western region of the Empty Quarter desert. Additionally, Abu Dhabi has beautiful natural preserves and natural islands where the family can enjoy kayaking along and enjoy the natural beauty, and archeological specimens that reveals the rich heritage and culture of the UAE. Abu Dhabi is the destination where modernity and heritage meets, and greet its visitors with warm welcoming Arabian hospitality and traditions were inherited along the years and are carried on from one generation to the next, therefore the special treatment is always given away wherever you go about Abu Dhabi. Worry no more about what can your family can do à ¢Ã¢â€š ¬Ã‚ ¦ because theres fun for everyone in Abu Dhabi. Positioning A quote from His Excellency Mubarak Al Muhairi, director general of ADTA regarding Abu Dhabis positioning in the tourism industry says the following: Abu Dhabi is seeking to attract discerning tourists who will be attracted by a diversified product base of beach, nature, culture, sports, adventure and business tourism. Our mandate is to position Abu Dhabi as an international city of wealth and culture, while maintaining a balanced approach between development and environmental preservation and sustainability. In our five-year strategic plan, 2008-2012, we have prioritized wider international marketing of this destination and we envisage that by the end of this year we will have ADTA representative offices in Australia, Italy and China joining our existing overseas office network which serves our primary markets of the UK, Germany and France.  [2]  Thus, Abu Dhabi seeks growth in the tourism industry and position itself within the market using product characteristics and customer benefits as a positioning strategy. Section 5: MARKETING MIX MARKETING STRATEGY Marketing Mix: The proposed marketing mix for the betterment of the tourism industry of Abu Dhabi consists of four main elements: Product formulation, Pricing, Promotion and Place. Product Formulation: Product in the tourism industry is any benefits or quality of experience that meets the needs and wants of the customer. Abu Dhabi needs to ensure that the tourism experience that it provides its guests meets their needs. This can be done by ensuring top performance in four aspects of its product. Designed Characteristics: The tourism in Abu Dhabi can be given a boost by attracting more customers, this can be done by clubbing together different aspects of its tourism like cultural sites, hotels, leisure activities into single deals and promotions. Service Component: All tourism staff should undergo special training for interaction with customers. There should be a uniform form of administration for all tourism organizations within the emirate. When customers notice the same uniforms and procedures within different tourist spots within the country, it instills a form of familiarity within them. Branding/Ambience: Abu Dhabi should create a brand for itself as a top end tourist destination. The brand should consist of a catch phrase as well as a logo. The catch phrase should project in the mind of the traveler an image of the destination and a feel of the people and culture. The logo can include prominent structures of the emirate (eg. Sheikh Zayed Mosque, Leaning Tower of Abu Dhabi). Having a brand and its consequent promotion around the world will give a boost to the tourism industry in the emirate. Price: Pricing is a very important marketing strategy as it helps control the sales volume. Abu Dhabi has over 125 hotels, where many of these are five star hotels. The published prices of these hotels tend to be very high and do not attract a lot of customers. The tourism industry could create deals that club together hotels and different leisure activities and charge a promotional price. This way, the customer perceives more value for the cost they are paying. Abu Dhabi could also create seasonal pricing strategies that can cater a specific tourism season. Promotion: Promotion is perhaps the most visible of the four marketing mixes and perhaps what Abu Dhabi lacks the most. As a tourist destination, Abu Dhabi needs to send a global message that they are now ready to enter the tourism market. This can be done through hosting tourism exhibitions and signing contracts with international hotel groups and airlines for promotional prices. Publishing magazines and brochures as well as a more interactive advertising in travel websites can help make the consumers more aware of Abu Dhabi as a tourist destination. Place: In tourism, place does not refer to the destination alone, rather all points of sale for the destination. This includes travel agents, online booking as well as convenience of access. Abu Dhabi should start a tourism office in major cities around the world offering deals at promotional prices. Etihad Airways already connects Abu Dhabi to different parts of the world, ensuring ease of access to the city. Marketing Strategy: A well-developed efficient marketing strategy for the targeted segments is very trivial for growth of the product. This can be achieved by the following means: Sector Regulation: Work with industry sector stakeholders to enhance overall tourism sector standards. Develop and implement sector licensing and classification. Visitor Experience: Improved and consistent visitor experiences founded on unique culture character. Visitor services program Advocacy with other departments and agencies to meet the travelers needs. Accessibility: Significantly improved access to and within Abu Dhabi. Stakeholder Collaboration: Champion the development of the tourism industry with stakeholders. Tourism Product Development: Foster leisure and business tourism attractions and events. Promote Abu Dhabi: Promotion of Abu Dhabi as an international destination. Produce a steady stream of innovative event and concepts which are aligned to, and reinforce brand Abu Dhabi. Job Creation: Increase in skilled tourism employment and generate greater levels of Emirati participation. Organization Excellence: Increase the organizations effectiveness by operating with a streamlined structure, well-defined and documented processes and using the latest available technology tools. Workforce Development: Increase the organizations effectiveness and efficiencies by recruiting and retaining skilled employees and empowering them to the highest levels of professionalism with a customer focus attitude. Sustainable Tourism: Promote development of a sustainable tourism sector adding value to the local community.

Intra-Organizational Collaboration Essay -- Business, Collaborative Or

Intra-organizational Collaboration Organizations need to recognize the necessity to flatten hierarchical structures. In creating a horizontal structure leaders naturally acquire a greater ability to adapt. Leaders need to have an intensive focus on people. Recognizing the need to tie both compensation and advancement potential with individual’s ability to function in a T-shaped management style. Organizations need to be willing to change the way they hire in order to promote intra-organizational collaboration. Horizontal organizations require the establishment of high performance teams that have legitimate decision-making power. Leaders must be on board and willing to walk the talk as it relates to creating a team centric organization. They must invite honest feedback, designing mechanism whereas constituents can deliver honest feedback without fear of reprisal. In organizations of the future leaders need to be brave admitting mistakes openly and using them as opportunities to learn. Leaders also need to understand that feedback in a team centric organization is not a personal attack. Leaders need to treat negative feedback as a simple business case. Team centric leaders should also encourage others and not be afraid to ask for assistance when necessary. (Guttman, 2009, pg.47-51) People First The most important aspect of collaboration is people. As indicated previously one of the guiding principles for this leaders’ guide, â€Å"The successful ventures are truly creative collaborations of talented people committed to beating the odds.† (Hill, 2000, pp. 46) In order to be truly collaborative constituents need to exist in an environment built on mutual trust. This is the only way leaders can establish a team centric cul... ...petency, in order to collaborate better constituents need to have feedback provided on a continuous basis. â€Å"To get any traction, leaders need to set criteria and metrics for cross-unit contributions. Overarching concepts-â€Å"teamwork†-need to be translated into concrete behaviors that are ranked from the least to the most desirable.† Hansen, 2009, pp. 102) The success of any method is contingent upon its execution but one popular method is the 360-analysis. This type of performance analysis allows for a holistic view of a constituents performance both within his or her unit and their impact on the broader organization. â€Å"Leaders pursuing disciplined collaboration practice consequence management: if people perform well both within and across their units, they are promoted. If they fall short on either dimension, they face the consequences.† (Hansen, 2009, pp. 104)

Pina Bausch

Dance is an expressive art form, it gives the choreographer and dancers a chance to be able to release and engage their ideas through physical practice. Not all pieces have a meaning but may have an aesthetic level of semiotic content. As an audience we recognise and interpret movement, sometimes this is not conscious as this is an analysing tool that we all use to read situations in everyday life. This essay studies the piece The Rite of Spring (1974) by Pina Bausch (1940-2009). Bausch was a German modern dance choreographer who rebelled against ballet and made her own twist on dance. The rite of spring was one of her many frantic pieces. Bausch uses emotion, costume and staging to make this piece individual and unforgettable. Bausch uses a mix of responsive gestures and powerful unison movement; she goes into great depth and detail to portray the subject of human sacrifice. The choreography has been carefully thought out and you can see this by watching the piece, it has a phatic semiotic level. The music accompanying the piece is composed by Igor Stravinsky (1882- 1971) the piece has three sections: (Introduction, Omens of Spring–Dances of the Youths and Maidens, Ritual of Abduction). There are many instruments used helping the piece explore different pitches and tempos giving more scope to play with as a choreographer. Some of the instruments used : piccolos, flutes, English horn, clarinets, bass clarinets, bassoons, contrabassoons, French horns, piccolo trumpet, trombones, tubas, timpani, bass drum, triangle, and strings. Phrase one – Female solo explosion. Performer| Movement| Space| Sound| 1 vulnerable woman wearing a red dress. Her role is being sacrificed. She is trained dancer, her facial expression shows distress. Stillness, explosive movement, drops and falls, repetition of the motif of the head falling towards the floor and being flung back up again. | The spatial view was of one female and then the rest of the group huddled together in a staggered clump. Whilst dancing the women doesn’t travel far but covers a space and keeps moving within it. | The music used is very intense and dramatic, its use of tempo and pitch add to the nature of th e piece and adds effect to the dynamics in the choreographed movement. In this phrase the female performer wears a see through red dress exposing one of her breasts, this shows her vulnerability and is referential to the fact that red can mean ‘dying’. The piece has a phatic semiotic level as the stage has been set in a certain way which draws attention to the female, as the other performers are set in a staggered clump giving the impression of a group relationship. Whilst the woman explodes into dance the rest of the company stand watching in fear as she jerks herself to death. The choreography used is very repetitive as she collapses to the floor and back up again, the strength and ability shown through her movement is very believable as you see the tension moving through her body. The way the performer repeats the motif of her head swinging to the floor this could be a metalinguistic level as we associate this kind of movement with stress and frustration. Phrase two – circle sacrifice Performer | Movement| Space| Sound| A mix of male and female dancers. Males have just trousers on and women just chiffon dresses. They are all trained dancers, and their facial expressions in this phrase are neutral. Starts with slow walks and repetition of the same motif of the head being swung towards the floor. As the phrase goes on the movement turns jerky and more energy is put into the phrase as the movement is developed. | The whole of the stage is covered as the dancers create a spacious circle. Highlighting the main focus of the red dress that is in the centr e of the circle. | The music starts slow and quiet as the movement starts to pick up the music complements it as the tempo gets faster. There is a loud explosion of music twice in this phrase. | This phrase consists of many different devices such as unison work, canon, motif development and partner work. They start the phrase in a spacious circle, and the red dress is left in the centre this indicates the power of the dress and shows that they are all in fear of being the one chosen to be sacrificed. Again the as the dress is red in colour it is referential to the fact red could mean ‘dying’. There is a motif that is repeated throughout the piece but is more apparent in this phrase as they all dance it in unison and then it develops further; it is the motif of them swinging their head towards the floor and back up again. This could be metalinguistic as we associate this movement with frustration, aggravation and disturbance. As the motif is developed it gives the audience trace level signs as it is embedded in the work and creates the idea of the aggravation and frustration excelling further. As stated above there is also an element of partner work used the proxemics suggest an intimate relationship and the movement used suggests vulnerability from the women. The music starts quiet and gradually picks up as the movement and motif develops; this makes the audience feel the emotion and state that all the performers are in as it does not take the emphasis away from the movement content. In the phrase all the performers collapse to the floor, this sudden fall is accompanied by a loud explosion of music; it adds such effect and shows the phatic level of semiotics as it was obviously rehearsed that way to make the dynamic stand out. Bausch has put so much detail into the choreography, staging and costumes; the overall effect is the meaning and depth of the piece. The two phrases that are analysed above use similar choreography although both are unique in different ways. Phrase one – female solo explosion, the attention is drawn to the one female dancer that is dancing her solo. The impression that comes across is the thought of her being alone as the other performers are all stood together watching on. In comparison phrase two- the circle sacrifice, the feeling and staging makes the group seem as a whole and that they are all equal; this is because they all move the same in unison and no one is singled out. In phrase one the movement content is jerky, energetic and extremely emotional for the one female dancer; whilst the rest of the group are swaying gently this implies that the feeling that the female is experiencing is most defiantly not of which the group are. Phrase two on the other hand shows that the group are together and are dancing as a whole. The contrast between phrase one and two are not that different as they are both following the same theme of sacrifice making the choreography through the piece restricted into what style and practice is used. The Rite of Spring is an exceptionally meaningful piece that shows the difference between the royal ballet and modern dance. The twist widens the restrictions and enables people to dance without having all the Ballet technique. The two phrases above certainly stand out in the piece and add to the story telling ability. To conclude the analysis of this piece has been very intriguing to watch the performance in a different light, it helps you understand and helps you see the nature of the piece and how it was made. Bibliography

Abortion Worst Medical Invention essays

Abortion Worst Medical Invention essays Abortion is the deliberate termination of pregnancy by removal of the fetus from the womb. Under the topic of abortion there are two clear sides - pro or for. Personally I am 100% pro, because in my eyes abortion is the same as murder. Murder is defined as, The taking of someone or somethings life. So if you dont see it like that then how would you define abortion. Currently abortion is performed by any one of four standard procedures, according to the period of gestation. The procedure that I will explain is called, suction, or vacuum aspiration. This method is used in the first trimester (up to 12 weeks). In this procedure, which normally takes five to ten minutes, on an outpatient basis, the cervix (neck of the uterus) is opened gradually with a series of dilators. The uterine contents are withdrawn by means of a small flexible tube called a cannula, which is connected to a vacuum pump. To ensure that no fragments of tissue remain, a spoon-tipped metal instrument called a curette may then be used to scrape the uterine lining. This procedure was introduced in China in 1958. This doesnt sound too wonderful. Most people dont know it but there can be some long term effects to having an abortion. Some of them are mild but others are more serious. They may include death to the mother, preterm delivery or low birth weight for second pregnancies. Some agencies have even stated that abortion can cause other health related problems like cancer for the mother. It has been proven that abortion is the fifth leading cause of maternal deaths in the United States of America even thou abortion related deaths are not officially reported as such. To let you know I will state some of the complications you can have after an abortion in more detail. After having an abortion a woman could die from a variety of complications associated with the abortion. A few of the ...

Snowboarding in the United States

Snowboarding in the United States Snowboarding has seemingly become one of the most popular sports in the United States, especially after the launch of the Winter Dew Tour at Colorado’s Breckenridge Ski Resort five years ago. Since then, snowboarding sport has undergone a series of evolution. For instance, new snowboarding tricks have been developed to replace or improve the old ones.Advertising We will write a custom essay sample on Snowboarding in the United States specifically for you for only $16.05 $11/page Learn More In addition, advanced sporting equipments have been designed to advance the sport to high levels. On the other hand, some prominent riders have emerged in the last five years, leading to a steep competition among competitors in the sport. However, a number of fatal outcomes have been recorded, owing to the adoption of dangerous snowboarding tricks. Therefore, an aesthetic analysis of snowboarding appears significant for a comprehensive evaluation of the sport. In ge neral, snowboarding is believed to have recorded a remarkable progress over the last five years. Stakeholders in the snowboarding sport reaffirm that, the sport has evolved extensively to reach the highest level of progression, ever since the sport was invented. A recent report indicates â€Å"eight years ago few, if any, adaptive snowboard lessons were offered; today, there are adaptive schools at most resorts and many offer snowboard lessons along with adaptive skiing techniques† (Disabled Sports par. 44). From a practical approach, the observed progression in snowboarding is attributable to the establishment of advanced training courses and adoption of new snowboarding tricks, which have offered riders with new opportunities to endure the strenuous episodes of the sport. Ordinarily, it is believed that, popularity of snowboarding has led to the development of adaptive equipments, which are ability-oriented to suit the needs of the riders. It is claimed â€Å"as snowboardi ng grows in popularity, options in equipment and teaching aids increase† (Disabled Sports par. 36).Advertising Looking for essay on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More In recent years, snowboarding seems to have attracted more riders than it was the case one decade ago. Consequently, new snowboarders are introducing new snowboarding tricks to achieve fun and victory in the game day-by-day. Some of the new snowboarding tricks which have been developed in the last five years include the double cork and triple cork tricks. These tricks have earned several snowboarders immense prominence, owing to their success in attempting the tricks in risky environments. For instance, the double cork snowboarding trick was first attempted by Shaun White at the 2010 Winter Olympics. This trick had not been practised before, but it gained popularity in the sport after the Olympics. Richards claims â€Å"It has been no time at all since we were wowed by Shaun White throwing down double corks in Whistler’s super-pipe at the 2010 Winter Olympics; it is crazy that such an insanely technical trick was to become out-dated† (par. 1). Shaun White had faced immense competition from Kevin Pearce. Therefore, the tragic elimination of Pearce gave White high chances of achieving victory in the 2010 Winter Olympics. Shortly, after the 2010 Winter Olympics, attempts for triple corks begun in the month of May when Nils Arvidsson attempted the trick successfully although he nearly missed the footage. Torstein Horgmo was the second to attempt triple cork tricks successful in June 2010. Horgmo achieved success in trying the new trick; hence he is known to be the world’s first rider to attempt the triple cork trick in the history of snowboarding. â€Å"It was not long after the Olympics in 2010 that triple corks were being attempted. There was a lot of excitement around an attempt by Nils Ar vidsson in May 2010, the near-miss footage† (Richards par. 4).Advertising We will write a custom essay sample on Snowboarding in the United States specifically for you for only $16.05 $11/page Learn More It is believed that, double cork and triple cork tricks are the most challenging snowboarding tricks. Since their invention, only a few snowboarders have attempted them successfully without sustaining injuries. They require extensive skills in landing to prevent injuries to the riders. Therefore, those who have attempted the tricks successfully gained auspicious acknowledgement from the snowboard team; that is probably why Dave Richards, the Operations Director of the Nonstop Club remarks that triples are â€Å"massive tricks, and [they earn] full respect to anyone who attempts them† (par. 3). The remarkable successes in double cork and triple cork tricks are regarded to as immense progress in snowboarding in the last half decade. However, thes e tricks have attracted immense criticism from the public and the sporting community across the United States, owing to their health risks. Despite the prominence accorded to the snowboarders who applied the tricks successfully with safe landings, double cork and triple cork tricks are quite dangerous. Dangers of the double cork and triple cork snowboarding tricks can be explained by the two fatal outcomes which have been reported since 2009. In the first outcome, Kevin Pearce sustained traumatic brain injury on Dec. 31, 2009 while preparing for the Vancouver Olympics, leading to a tragic end of his snowboarding career. Pearce fell from the super-pipe and hit his head on the ground while he attempted to rotate; thus, becoming unconscious, owing to the brain injury. During an interview with Rachel George early this year in February, Pearce remarked, â€Å"I was so sick and so dizzy and so gone after that† (par. 3). Pearce’s mental trauma is believed to have been caused by the two successive falls he experienced during his training for the Vancouver Olympics in which he was attempting to qualify for the U.S Olympic team (George par. 2).Advertising Looking for essay on health medicine? Let's see if we can help you! Get your first paper with 15% OFF Learn More The second fatal outcome in snowboarding sport was the death of Sarah Burke in 2012, owing to injuries she suffered during training on Jan. 10, 2012 which was run in Park City, Utah. She had contributed immensely to the progress of snowboarding by pushing for the acceptance of super-pipe triple cork in the Olympics (DeBruin and Pells par. 2). In a brief conclusion, snowboarding has recorded remarkable progress in recent years, owing to advanced training courses. However, the two fatal outcomes involving Sarah Burke death and Kevin Pearce have aroused immense outcry from the sporting community and the public at large. It is argued that double cork and triple cork tricks expose the riders to health risks as it was the case with Kevin Pearce and Sarah Burke. Snowboarders lament that snowboarding used to be quite safe before the introduction of the double cork and triple cork tricks although minor injuries were recorded. Double cork and triple cork tricks involve a high level of athleti c skills; thus, making it difficult for new riders. Currently, the popular criticism of the risky snowboarding tricks seems to have made progress in snowboarding games, not worth appreciation. Consequently, new policy guidelines have been established to prevent unsafe practices in sports, primarily in snowboarding sport, which had not been given significant priority in the past. Ideally, progress is worth successful healthy outcomes in sporting activities. DeBruin, Lynn and Pells Eddie. Sarah Burke Dead: Skier Dies after Accident during Training at Park City, Utah. 19 Jan. 2012. Web. huffingtonpost.com/2012/01/19/sarah-burke-died-skier-canada-freestyle-park-city_n_1217001.html Disabled Sports. n.d. Snowboarding. n.d. Web. disabledsportsusa.org/snowboarding/ George, Rachel. Head Injuries a Rising Danger for Snowboarders, Skiers. 26 Feb. 2013. Web. usatoday.com/story/sports/olympics/2013/02/25/snowboarders-skiers-kevin-pearce-concern-concussions/1947593/ Richards D. Re: Doubles ar e so Winter Olympics 2010. 25 May, 2012. Web. nonstopsnow.com/blog/stuff-we-like/snowboardings-triple-cork-club/

Immigration Problem In The U.S. Essays - Demography, Population

Immigration Problem In The U.S. Essays - Demography, Population Immigration Problem in the U.S. The first move stopping immigration decided by Congress was a law in 1862 restricting American vessels to transport Chinese immigrants to the U.S. The Alien Contract Labor Laws of 1885, 1887, 1888, and 1891 restricted the immigration to the U.S. of people entering the country to work under contracts made before their arrival. Alien skilled laborers, under these laws, were allowed to enter the U.S. to work in new industries. By this time anti-immigrant felling rose with the flood of immigrants and in this period the anti-Catholic, anti-foreign political party the Know-Nothings, was already born. After World War I a marked increase in racism and the growth of isolationist sentiment in the U.S. led to demands for further tight legislation. In 1921 a congressional act provided for a quota system for immigrants, which the number of aliens of any nationality admitted to the U.S. in a year could not exceed 3 percent of the number of foreign-born residents of that nationality living in the U.S. in 1910. This law applied to nations of Europe, the Middle East, Africa, Australia, New Zealand, Asian Russia, and certain islands in the Atlantic and Pacific. In the 1980s concern about the surge of illegal aliens into the U.S. has led Congress to pass legislation aimed at cutting illegal immigration. The Immigration Reform and Control Act of 1986 allows most illegal aliens who have resided in the U.S. regularly since January 1, 1982, to apply for legal status. Also, the law prohibits employers from hiring illegal aliens and mandates penalties for violations. Debate over immigration and immigration policy is not new to the nation's history. From time to time, Congress jarred legislation to control the flow of immigration. As immigration rises and hatred grows more laws will be implemented trying to release some of the pressure. Illegal immigration has some pros and cons. I will discuss the pros first and explain them briefly in order for you to get a better underezding of the position. It offers cheaper labor to businesses. By not paying minimum wages to the workers who are willing to work for a lower price, this gives the business an edge over other competitors. Provides culture diversity in the united states. Bringing in immigrants gives more and different cultures to the U.S.. which can expand businesses to other fields of the world. Also giving people a more underezding of other cultures. Lowers the cost of products produced in the U.S. that we buy. If the businesses can produce products and services at a low price keeping there overhead low, then we as a consumer will also pay a lower price. Most illegals are skilled workers and helps run the economy. Other countries economy is also being helped. The workers bring money to their families out side of the U.S. which in most cases the U.S. dollar has a higher value than their own. Experts disagree saying the cons of this issue out way the pros. Next I will discuss some cons and explain them briefly. Illegal immigrants pay no tax. If they pay no taxes then how can we as a country pay for public services we as well as they do. Sending money out of our economy and sending it to their families abroad. If money is taken out of our economy it causes a monetary problem. this can cause an inaccurate account of money in circulation which might cause inflation. Lower wages. If an illegal is willing to work for under the minimum wage then the employer will not pay more for the job to any other employ. In fact might higher only illegals and take away jobs form legal residents who are willing to work. When illegals come to this country they do not get tested for diseases that might infect the population. Which can cause a health problem. Such as polio, tuberculosis and other forms of diseases. Illegals cost the states money, paying for education, health care, and other social services. In an already under funded programs they give these services a more heavy burden to deal with. Republicans have reached agreement among themselves on legislation designed to combat illegal immigration. But with their package facing delaying tactics from

Current Economic Situation Essay Example | Topics and Well Written Essays - 250 words

Current Economic Situation - Essay Example As a result, the USA witnessed a growth in suburbs. Then the 1970’s recession destroyed the predominantly industrial cities and created a way for the growth of the knowledge sectors and new geographic centers. The economy suffered from the inefficiencies arising from the manufacturing era. The West Coast experienced a boom, but many cities focused on cheap yet appreciating housing, turning it into its main industry. Yet, as Florida (2009) outlined in his article, such development was too one – sided so that once the crisis occurred, the housing markets crashed, as did the local economy’s major industry. On the other hand, places such as New York have survived and will remain centers of innovation and progress. The latest developments have favored flexible, innovative and international labor force. Moreover, areas harboring such labor force are also diverse in terms of the skills and services these individuals provide. Such a labor force creates new ideas and easily takes over the economy once one segment of that economy falters. For example, whereas the finance, housing and industrial sector suffered, academics and scientists benefitted from this crisis, and so did the cities harboring them, thus creating new spatial fixes around which new forms of social structures will form. The social structure will change over the next decade or more. According to Florida (2010), the high paying workers will profit from their creativity just as the workers in the manufacturing areas benefitted after the Great Depression. Moreover, suburbs and their communities will become denser, more diverse and connected, responding to the need for fast communication, production and delivery of ideas. A change in homeownership will arise, where renting will become more widespread, increasing mobility of workers. In short, Harvey (2001) borrowed the term

Poems and Feelings Essay Example | Topics and Well Written Essays - 500 words

Poems and Feelings - Essay Example A man can spend whole life among such hills and can never exhaust from them but every time he finds these scenes much more beautiful than before. The poet in the last line says: This point of view really collapses with my view because nature is the thing which God has filled with love and affection. The poem develops the feelings of love and admiration towards nature and the beauties it has created for us. Having read this poem â€Å"Lost sister† I realized the importance of moral values, culture and tradition. Here the poet describes two types of women. Both are brought up in same culture but one of them chooses her life to spend in her native culture but the second chooses American disrupt culture. In my opinion the well cultured and traditional women desire more respect and honor than the one who is running in the social race of life with man because cultural lady can be seen but cannot be heard. On the other hand, the other women prefer freedom over respect. This poem enhances my inclination towards the traditional and cultural ladies, who spend their whole lives for the sake of family. In the poem invisible mending, the poetess describes about three old ladies. She exclaimed that they always remained busy in their work, in spite of being so much old. Their hands become hard, eyes become keen but they still work hard untiringly. According to the poetess: This poem has increased the regard in my heart for old people to whom we do not give so much attention but actually they are experienced and learned people and can transfer all such knowledge of life in our personalities. This poem also develops my self esteem and courage to achieve my goals through hard work regardless of the difficulties. As I read the poem â€Å"A Blessing† written by James Wright, I feel that God perfects the nature by its creature. According to me love is gifted by nature and it is embedded in human heart. It is the love that penetrates into the

EUROPEAN LAW Essay Example | Topics and Well Written Essays - 1750 words - 1

EUROPEAN LAW - Essay Example idity and the legal basis of the said directives.2 The manufacturers invoked the principles of subsidiarity, proportionality, right to property and the right to conduct economic activity under Articles 28 and 30 EC and the European Convention Human Rights Protocol, which specify provisions on basic right to property and the right to conduct economic activity freely. The claimants also invoked infraction of Article 253 EC also referred to as the duty to give reasons. Furthermore, the manufacturers of food supplement also challenged Articles 3, 4(1) and 15 (b) of the EC rulings, which state that only food supplements which comply with aforesaid directives may be sold within the European Community and the vitamins and minerals specified under the directives may be utilised. The directive further stated that effective August 1, 2005, products which did not comply with the directives should be prohibited.3 The court has dealt with these issues in the past as for instance in the case of Sw edish Match and Arnold Andre4 and has made its decisions based on the judgments brought forth on that particular case. The EC Directives define ‘food supplements’ as products or items whose purpose is to supplement the daily diet, foodstuffs which contain concentrated nutrients or materials having nutritional or physiological results. These supplements are either marketed in isolation or come in dosage forms, which include capsules, tablets or pills. One of the disputed directives state that only ‘vitamins and minerals’ specified ‘in the forms listed in Annex I and in the forms listed in Annex II maybe used for the manufacture of food supplement5. The court riling and the EC directives likewise invoked treaties signed by the member states of the EC. The Directive provided in Article 15 also affirmed that ‘Member States shall bring into the force of laws’ and other aforesaid stipulations needed to abide by the Directive6. The manufacturers of health foods asked the courts

Pharm assignment Example | Topics and Well Written Essays - 500 words

Pharm - Assignment Example This type of disorder results to hyperglycemia, a state where the body glucose level rises above normal. According to (Derrick, 2010) the past five years researches have been conducted on how to control hyperglycemia in T2DM. He argued, Pharmacotherapeutic agents that were previously used were proving to be inefficient e.g. Sulfonylurea. In the late 2009 a new pharmacotherapeutic agent, Bromocriptine mesylat was approved after a series of research to verify its efficiency. Example of drug that has Bromocriptine mesylat as active ingredient is Parlodel. Bromocriptine lowers the level of glucose concentration in the blood. Researchers had a thought the Pharmacotherapeutic agent uses a mechanism that resets the body’s circadian clock through enhancing dopaminergic. This agent’s dosage is unique from other T2DM dosages. For a start a T2DM patients are advised to take 0.8mg of the drug containing the agent with food once per day, taken along with food it will enhance bioavailability. The dosage should be taken during bedtime. The dose can be increased at a weekly interval. For instance, if a T2DM patient takes a dose of 0.8mg per day this week next he/she can increase it to 1.6mg per day. However, this can only be increased up to a limit of 4.8mg per day (â€Å"Bromocriptine mesylate†, 2009). Increasing the dose will increase the efficiency of the agent in controlling hyperglycemia. Precaution should be taken when using Pharmacotherapeutic agent. A T2DB patient, who is breastfeeding, should not use it because it suppresses lactation process. If you happen to experience uncontrolled high blood pressure, this agent is not advisable for you since this will make it to be inefficient. While using this agent you will experience some side-effects as a result of your body reacting to the introduction of a â€Å"foreign agent†. Some of the side-effects include nausea, vomiting, dizziness, headache, diarrhea, vision, and chest

Relegation System in Major League Soccer Term Paper

Relegation System in Major League Soccer - Term Paper Example Major League Soccer or what is popularly known as MLS is the official soccer league of United States of America. The tournament is endorsed by United States Soccer Federation and Don Garber is its present commissioner. Major League Soccer (MLS) was started in the year of 1993; however, the first session of competition was staged in the year 1996 with just10 teams. The teams were owned by the franchisees and are operated and functioned by its stakeholders. The present format of MLS has 19 teams who play with each other on a home-away basis. Among the 19 teams, 16 are from the US and the other 3 teams are from Canada. Some of the noticeable teams of the tournament include LA Galaxy, Montreal Impact, Toronto FC Dallas and Real Salt Lake among many others. The first season of the tournament witnessed record attendance however it felt below the expected level from the next season onwards. People started to lose interest in soccer as other sports such as baseball, basketball took the elite positions. The condition revived when players such as David Beckham, Cuauhtemoc Blanco joined the league as players of respective teams. The primary rationale behind the commencement of MLS was to strengthen the national football team of US. The quality of the league was in doubt when the USA was eliminated from the opening stages in the 1998 soccer world cup. Apart from that, 1994 Soccer world cup that was staged in the US was also another reason. The professional league helped the country to bid for the tournament.  ... The first season of the tournament witnessed record attendance however it felt below the expected level from the next season onwards. People started to lose interest on soccer as other sports such as baseball, basketball took the elite positions. The condition revived when players such as David Beckham, Cuauhtemoc Blanco joined the league as players of respective teams (Dure, 2010, p.xvi). The primary rational behind the commencement of MLS was to strengthen the national football team of US. Nonetheless the quality of the league was on doubt, when USA was eliminated from the opening stages in the 1998 soccer world cup. Apart from that, 1994 Soccer world cup that was staged in US was also another reason. The professional league helped the country to bid for the tournament. Formulation of Mission and Vision statements Mission and vision statements are important for running a venture. Also in case of MLS mission and vision statements, holds an important position. MLS was started in the year 1993 for the purpose of establishing a particular objective. Moreover in order to achieve the objective one needs to have clear vision of the future. While on the other hand a mission statement is being used to describe the purposes or aims of the new association. Hence it can be justified that mission and vision statement plays an indispensable role. The newly developed mission and vision statement for MLS are formulated below. Mission Statement To offer the country with new talents in football and also to encourage upcoming talents in the field of soccer. To enthuse the world of sports lovers by showcasing highest quality of entertainment. Vision Statement ‘We

MGT A7 Essay Example | Topics and Well Written Essays - 500 words

MGT A7 - Essay Example Leadership and management are two distinctive functions that an organization should have. They are the Conner stones of success and growth of an organization. There should be a balance between management and leadership of an organization. Kotter article has explained that most companies in United States of America do not have equilibrium the two different functions. A number of corporations within US put more emphasis and attention on management with little attention on leadership. More successful corporations in US seek qualified personnel who posses leadership qualities and employ them to take on crucial roles that require ability to lead well. Such companies balance strong leadership with strong management propelling them to success (Kotter, 2001). Basing on the functions that this article has given to leaders and managers, a successful corporation should have more leaders as compared to managers. This article has cited an example a military setup to explain how leadership is more important than management in an organization. In this example, a peacetime army can succeed with good leadership at the highest ranks. In addition, good leadership at all levels is important to ensure success. This example explains that good leadership at the top hierarchies of an organization determines the success of that organization. All levels of a corporation need to have good leadership to ensure success. An organization should go through with variations in time many changes. Changes within an organization or external changes are unavoidable. A crucial function of leadership is coping with changes within and outside an organization. This is a key function because in the past years there has been a rapid increase in market competition between organizations. Organizations should adopt a number of changes in order to compete successfully with its competitors. Failure to cope up with market changes can lead to collapse of a company due to

Pharm assignment Example | Topics and Well Written Essays - 500 words

Pharm - Assignment Example This type of disorder results to hyperglycemia, a state where the body glucose level rises above normal. According to (Derrick, 2010) the past five years researches have been conducted on how to control hyperglycemia in T2DM. He argued, Pharmacotherapeutic agents that were previously used were proving to be inefficient e.g. Sulfonylurea. In the late 2009 a new pharmacotherapeutic agent, Bromocriptine mesylat was approved after a series of research to verify its efficiency. Example of drug that has Bromocriptine mesylat as active ingredient is Parlodel. Bromocriptine lowers the level of glucose concentration in the blood. Researchers had a thought the Pharmacotherapeutic agent uses a mechanism that resets the body’s circadian clock through enhancing dopaminergic. This agent’s dosage is unique from other T2DM dosages. For a start a T2DM patients are advised to take 0.8mg of the drug containing the agent with food once per day, taken along with food it will enhance bioavailability. The dosage should be taken during bedtime. The dose can be increased at a weekly interval. For instance, if a T2DM patient takes a dose of 0.8mg per day this week next he/she can increase it to 1.6mg per day. However, this can only be increased up to a limit of 4.8mg per day (â€Å"Bromocriptine mesylate†, 2009). Increasing the dose will increase the efficiency of the agent in controlling hyperglycemia. Precaution should be taken when using Pharmacotherapeutic agent. A T2DB patient, who is breastfeeding, should not use it because it suppresses lactation process. If you happen to experience uncontrolled high blood pressure, this agent is not advisable for you since this will make it to be inefficient. While using this agent you will experience some side-effects as a result of your body reacting to the introduction of a â€Å"foreign agent†. Some of the side-effects include nausea, vomiting, dizziness, headache, diarrhea, vision, and chest

MGT A7 Essay Example | Topics and Well Written Essays - 500 words

MGT A7 - Essay Example Leadership and management are two distinctive functions that an organization should have. They are the Conner stones of success and growth of an organization. There should be a balance between management and leadership of an organization. Kotter article has explained that most companies in United States of America do not have equilibrium the two different functions. A number of corporations within US put more emphasis and attention on management with little attention on leadership. More successful corporations in US seek qualified personnel who posses leadership qualities and employ them to take on crucial roles that require ability to lead well. Such companies balance strong leadership with strong management propelling them to success (Kotter, 2001). Basing on the functions that this article has given to leaders and managers, a successful corporation should have more leaders as compared to managers. This article has cited an example a military setup to explain how leadership is more important than management in an organization. In this example, a peacetime army can succeed with good leadership at the highest ranks. In addition, good leadership at all levels is important to ensure success. This example explains that good leadership at the top hierarchies of an organization determines the success of that organization. All levels of a corporation need to have good leadership to ensure success. An organization should go through with variations in time many changes. Changes within an organization or external changes are unavoidable. A crucial function of leadership is coping with changes within and outside an organization. This is a key function because in the past years there has been a rapid increase in market competition between organizations. Organizations should adopt a number of changes in order to compete successfully with its competitors. Failure to cope up with market changes can lead to collapse of a company due to

Teen Eating Disorders Essay Example for Free

Teen Eating Disorders Essay The teenage community today is based on the views and opinions of society. Though this may seem harmless on the outside, these opinions have become the poison apple of today’s culture, tearing teenagers lives apart. Specifically, teenagers are falling to eating disorders due to the pictures and habits in the everyday community. Large billboards of flawless models, magazines with dieting tips and get-skinny schemes flood the minds of teenage girls and boys, imprinting the thought that they are obligated to look perfect. Eating disorders have very serious health risks, which can be aided by extensive treatment. Specific habits and signs can identify each disorder. The signs of anorexia nervosa and bulimia are vastly different. Girls that suffer from Anorexia tend to be perfectionists who want to control the amount of food consumed, where Bulimics tend to eat large amounts of food and purge the calories consumed. In anorexia, girls will start â€Å"Wearing baggy clothing, or clothing inappropriate for the season (long sleeves on a hot day)† (Is Your Child Showing Signs of an Eating Disorder?, PR Newswire). This is due to their need to hide the extreme amount of weight loss. Bulimics will hide their purges by spending a lot of time in the bathroom and running the water to cover the sound. Girls with these disorders are sneaky and manipulative. They will go great lengths to hide what they are doing. Although the person that is affected will be in denial these signs are easy to spot and more noticeable then they think. Some times these signs are what can save a persons life. Anorexia Nervosa and Bulimia are detrimental to the human body. Anorexia can lead to dizzy spells, irregular menstrual cycles, hair loss and breakage and eventually death. Bulimia can lead to damaged teeth, rips in esophagus, sores in the mouth and eventually death as well. The health risks are beyond physical but mental as well. Girls with eating disorders almost always have another psychiatric disorder. Some can suffer from depression and anxiety. Eating disorders are often classified as a â€Å"Dual Diagnosis†. With the correct treatment, both disorders can be reversed. It is important for the patient to recognize their symptoms and realize that they are not alone in their situation. Parental support is normally the most important factor in recovery â€Å"The most important thing a parent can do is listen, says Susan McClanahan, Ph.D., a clinical psychologist who specializes in the treatment of anorexia and bulimia.† Treatment is the best answer and is an important step to recovery. Recovery is a slow process that needs a lot of understanding and patience. If the treatment is rushed the patient is more likely to fall back into old habits and relapse. These disorders should been taken seriously watched for in girls of all ages. The ages of teenagers affected by the disorders varies greatly. â€Å"In the United States, as many as 10 in 100 young women suffer from an eating disorder.† (The American Academy of Child and Adolescent Psychiatry.) Due to societies pressure for perfection, the battle with each disorder is in many cases deadly. With the right treatment, severe health risks can be reversed and the disorder will begin to fade, as the signs of a healthy individual will shine through. PR Newswire (2012). Is Your Child Showing Signs of an Eating Disorder? Journal of Business and Economics. http://aacap.org/page.ww?name=Teenagers+with+Eating+Disorders §ion=Facts+for+Families

Standardisation Vs Customisation

Standardisation Vs Customisation A spectacular globalisation has been observed in the international business due to regional economic integration, advances in transportation, communication, technology and liberalization of worldwide trade policies (Czinkota Ronkainen, 2004; Keegan, 1999).ÂÂ   With the growing international business, international marketing has become more complex and diverse, (Terpstra, 2000; Cateora Ghauri, 2006) environment that is uncontrollable, unpredictable resulting uncertainty in business environment. International business is not only sending goods and services to foreign market but also to deal with different issues that make international marketing more complex, in particular geographical borders, different political systems, business regulations, currency conversions and cultural variety (Keegan, 2002; Geri Ian, 2009). Convincing cases can be put forward for both a standardisation or customisation approach to global marketing practice. These arguments are keenly explored; drawing from examples of Coca-Colas international marketing programme to reveal key points. This report discusses the contemporary issue facing by the global companies in marketing their products. Part One Issue: Global Marketing Standardisation Vs Customisation Global versus local marketing strategy have been a major debate in cross-national business development over decades for global brands (Levitt, 1983; Solber, 2002). The issue here is if the companies should follow a standardized marketing program to different consumer groups in different countries or a customised one by adapting their strategy according to the needs and habits of the specific country. The explanation for this confusion can be supported with two variables, awareness of local market condition at the headquarters and the level of headquarters influence in decision making of local marketing. This dilemma of standardising and customised marketing is mainly due to key factors like cost, ethical issues, legal restrictions, media, culture, and markets. For example taking the leading beverage company Coca-Cola (2003) into consideration it global campaign Life tastes good has been backed just after 2 years after its launch. Now the companies advertising headquarters operates ac cording to the local market needs rather than the draft developed at central headquarters. In addition to this it is also argues that product category is also a key factor in making advertising decisions (Summerfield, 2002). Kay (2002), president of Toronto consulting firm The Glasgow Group in similar fashion says technology and clothing brands tend to fit well with standard marketing but food and beverage products face difficulties with cultural mismatch, category development, brand name and local economy. Another example for customized marketing is McDonalds, a food chain, which customises its marketing strategy as well as products according to the needs and culture of the countries. The products launched in each country differ according to the cultural requirements and habits, economic development and affordability of the targeted class. This is considered to be issue because of the complexity created by the issue in the decision making process of international managers. As the main motive of the advertising is to influence the companys customers in selling their products, it is important for the company to decide if their advertising campaigns are influencing its customers globally in all regions. Thinking from a strategic point of view organisations marketing with a standardised marketing strategy implies offering standard product at standard price through standard distribution system, supported by similar promotional programmes in different counties, with different market requirement and in some cases completely opposite markets, this supports customising approach. On the other hand Cohanim (2002), Vice president of marketing and communication of IBM (Past), says IBM looks at the globe as a single market and IBM try to operate as a single global market, the company supports this by stating the solutions for their industry, customers, products and services are similar for all countries in which they are operating. Critical Analysis: Global Marketing is the strategy involving the four Ps of marketing i.e. Product, Price, Place and Promotion to deal with the markets according to the geographical and cultural adaptation. Complete Standardisation marketing strategy is to offer identical product line and features at identical prices through identical distribution channels endorsed by identical promotional programs. The other extreme of this would be Complete Customisation marketing strategy to develop distinct tailored products, pricing, promotion and distribution policies with no specific standard elements (Imad, Naresh 1995). Many writers have endorsed standardisation instead of customisation for international marketing (Britt, 1974; Clark, 1975; Obrien, 1986). This argument is pleasing as it can be estimated an outstanding sales for a standard global product. Levitt (1983) in his Globalization of Markets states that If a company forces costs and prices down and pushes quality and reliability up while maintaining reasonable concern for suitability customers will prefer its world-standardized products. Also the cost factor, which can be reduced by single marketing strategy when moved to low-cost market, helps the organisation to maintain the quality of the product (Walter, 1986; Yip, 1989). It is also observed that most of the international marketing campaigns are showing attention towards the standardised approach of advertising (Varder, 1992). Some researches conveyed that industrial products lend themselves more easily to standardisation than consumer products (Hite and Fraser, 1988) still, product categories cant be considered as great factor in standardising international marketing (Saimee Roth, 1992). In US, EU markets it is found that businesses with standardised products are well established and gain the advantage of create a standard image of their products (Bharadwrj et al, 1993; Rosen et al, 1989). The other important factor that encourages standardisation is reduce in unit cost, this gain a competitive advantage for the global companies who can easily penetrate into the price sensitive markets and drive the small competitors out of market. Walliser Usunier (1998, p. 530), in their review article, conclude that even though opportunities exist to standardize the strategic levels of international advertising, mainly on a regional basis, considerable adaptation of exceptional elements in international advertising campaign is inevitable. The standardisation or the customisation depends on the products and the notion of the consumers towards the product. Products like laptops, computers, televisions, cameras, watches, cosmetics, and clothing associated with fashion and status, etc are marketed on the basis of their world class recognition and hence a standard approach to campaign the products is used. A customised approach in such cases might not be preferred as they are advances in technology and thus the consumer demands in such cases have universal acceptance of these global products (Yvette Reisinger, 2008). This kind of globalization leads to homogenization of consumer acceptance and adaptation of such goods. But products like food and beverages, services like banking and insurance solutions depend on the habits and tastes and needs and wants of the targeted ethnicity. For example, McDonalds recipes differ from each country it operates and are accustomed to the eating habits of the locals. The pricing of such pro ducts too is done by considering the spending ability of the targeted class. A standardised approach in such case would possibly result in a failure of the product in international markets. Yvette Reisinger (2008), in his book describes the failure of the fast-food concept in France which is well admired in China. The Chinese consumers prefer faster service with low waiting time where as the French consumers seek distinctiveness and identity of the service. The study thus implies that a standardised or a customised technique of marketing products might not be feasible in all cases and depending on the influencing factors; thus, either of them or sometimes both of them might have to be considered. This is understood by a thorough research of the behaviour and adaptations of the countries while launching a product and depending on the mindset and acceptability of the consumers in those geographies (Salah Hassan, Erdener Kaynak, 1994). Philip Kotler in his Global Standardization Courting Danger (1986) describes few such failures of products belonging to renowned brands due to non-customization. Philips initially failed to make profits in Japan due to larger size of the coffeemakers and later did well after reducing the size to accommodate Japanese kitchens. Mattels Barbie doll, a famous product introduced in foreign markets, could have made positive profits with its standard western features accepted by many countries with a lower price m odel. This could also be counter argued by having a culture specific meaning of dolls and the need to have their features reflect a national look with would obviously earn better profits due to wide acceptance (Philip Kotler, 1986). Even though the Barbie sales were good with its western features in 60 countries, the sales in Japan have flourished only after the features of the doll were modified to reflect Japanese. This doesnt completely mean that Mattel has done well in those 60 other countries and leaves behind a dilemma that if there were customized features representing the nations, they could have done better. A proper and complete understanding of these two strategies i.e. standardization and customization is necessary for global marketing and thus enables us to channelize the knowledge to leverage the opportunities in international markets. The idea is not to debate on which of the both is better but to investigate potentiality and research on which of the strategies suit the product (Philip Kotler, 1986). The possibility is that, by applying each of them independently could be successful or by a combination of both the strategies is to be decided while the promotional strategy for the product is being designed. This could be realized by a primary market research in the geographies where the product is being launched and the cultural, economic, political and infrastructural adaptations and limitations of the countries. This is quite necessary for successful marketing and promotion to launch any product in the international markets and to be noticed and appreciated by the consumers of the product. A predetermined notion in this regard is dangerous and might in turn result in a disaster. Depending on the study conducted before the launch, it is then necessary to plan accordingly, the marketing strategy that needs to be implemented (Levitt, 1983). In international markets striking a balance between standardisation and customisation is vitally essential for the product to be successful globally (Amanda 2004). The element for success is an accurate assessment of market forces currently facing the specific brand and how to best take the advantage of this market environment. It is probably one of the reasons that Coca Cola is the worlds most powerful brand as stated by Interbrands Global Brand Scorecard in 2003, estimating its brand value at $70.45Bn(No. 1-0085). Part Two Organisation for Research: Coca Cola, worlds largest manufacturer and distributor of non-alcoholic beverages is the best example for the global marketing. We have considered Coke due to its global recognition and also for its efforts to remain a leader by dealing with the issues in standardisation and customisation strategies. The organisation currently operating in more than 200 countries with over 450 brands and a portfolio of more than 3000 beverage products worldwide, constantly competing with its international rivals as well as local players in the countries it is operating in, to revive its position as a leader in the domain. The vast business structure of Coca Cola has led to prologue of innumerable marketing strategies and theories which have constantly been modified to maintain the brand as a global paramount. Achieving such a position all over the world is no cakewalk for any organisation and involves complex marketing strategies to deal with boundless problems encountering across the world in different countries. A detailed analysis of different strategies and theories implemented by Coca Cola in executing its marketing plan across the world could help us to understand the concepts of standardisation and customisation better, and the advantages and disadvantages of both these theories. Issue and Facts: For any company that is continuously growing it is vitally necessary that it does not contain geographical limitations and that is one theory that Coca Cola has excelled in. On July 29th when the company announced its second quarter results, a raise in profit of 43% has been observed due to overseas growth even though it suffered weak domestic volume (Source 1: NY times). Since the time Coca Cola has started its global expansion, it has either become a leading beverage brand in countries worldwide or it tried to acquire the topmost beverage seller of that country. A recent such deal that Coca Cola tried to make is in China (Source 2: NY times), which unfortunately couldnt be completed due to government restrictions. Reportedly, Coca Cola tried to acquire a Chinese juice maker Huiyuan in the $2.5Billion deal (Source 3: CBS News). The company has ensured an equal market spread across the world and that is how it still made wonderful in spite of the weak economy back home in the United States, by its overseas markets (Source 4: Barrons). Recently in the month of June, it has announced the release of Green Tea Coca Cola in Japan, which they claim is good for health and beauty (Source 5: WBST). The range of products that the brand releases in different countries differs with the local adaptations, tastes and needs of the people. The marketing strategies and ad campaigns too differ depending of the mindsets and interests of people. In the Asian Countries of India and Pakistan, the caption goes as Jo Chaho Ho Jaye Coca Cola Enjoy, by which the brand is recognized in those countries. Most of the captions and marketing plans of Coca Cola are such that they seem to the people to identify and relate themselves with the brand(Ref: 25, 25). The Colalife campaign is another example of Cokes strategy to support the social cause for the Third World countries by supplying social products like Vitamin A tablets in their crates for people who direly need them (Source 6: PFSK). In Spain, Coca-Cola withdrew its 2-liter bottle after discovering that few local refrigerators had large enough compartments (Philip Kotler, 1986). The evidences of such a global leading brand in following the strategy of customization and adaptation regionally in spite of maintaining its international brand image makes it one of the worlds most powerful brands. Literature: Issue Analysis: The Coca Cola Company mission is to expand their business by understanding the trends and forces that will help them to sustain by creating value and making difference (Coca Cola Mission Statement). In the process of achieving this mission, they believe that consumer demand drives everything they do but also brand Coca Cola will always be the core of their business(Ref: 27). The focus on market is by getting into the market to listen, observe and learn what their consumers, customers and partners need. They wish to create a brand image that would inspire creativity, passion, optimism and fun (Coca Cola Mission Statement). The point here is to observe the possibilities of sustainability, which is a key factor in a global market. One should always understand the fact that to be Global, one needs to be local. With a history of more than hundred years, the company has created a brand value for itself for its core business by the name Coca Cola or Coke and thus, is widely recognized by it . The idea now is to sustain its global model by constantly endeavoring new and innovative products that best suit the markets of the countries it is operating in. The theories of standardization and customization have been utilized constantly by this firm to maintain its core brand value as well as making the people feel it as local with its adaptive and customized brands and marketing. The emotional connection that they make with consumers while providing them with product quality and variety builds brand value and drives preference for their beverage products. The issue is, to maintain such an emotional bonding with their customers, they need to listen to their customers and respond to them according to the needs. Various ethnicities have various habits and thus different tastes. The proper control of top management and their readiness to listen to their business customers worldwide and executing marketing plans through proper research and analysis is one the main reasons that Coca Cola is an example for its business model and marketing strategies. They have dealt with the issue of varying needs of their customers by launching products that resemble the countrys ethnic habits and taste. A standardized approach in this case could prove dangerous as, if the product is not welcome by the people, no matter how best the marketing plan is and how well it was received in the home country or for that matter any other country, if people of one particular country dont like the product, it will result in a disaster in that nation thus forcing the com pany to withdraw its operation due to such failure. A proper method would be to deal with their local necessity and simultaneously promote the core brand to achieve standardization. This way, even though customized products are being offered to the people, the core brand value is always promoted. The Coca Cola Company, with its experience in serving the world for more than a century, has excelled in the art of global marketing by customizing its products according to needs and also by maintaining the core brand Coca Cola or simply Coke across the world. Conclusion: The Coca Cola Company, in their 2008 annual review, mentions that We are just getting started. The reason is because currently they are selling 570 billion servings per year which makes it 18,000 servings per second. Estimates show that over the next 12 years the population worldwide would grow by more than 800 million people. In addition, 1 billion new people would enter the middle class population and nearly 900 million people will have migrated to urban centers. That means more consumers with more money who have ability to purchase the ready-to-drink beverages to thrive business. In an attempt to understand and test the product sustainability, the company continuously launches new products with intense marketing campaigns in different countries. Depending on the consumer response and market survival, it either retains the sale of product or withdraws it from the market. In this process of satisfying their customer needs, Coca Cola is constantly gaining experience and is getting re ady for its future targets by getting closer to its customers utilizing the theories of customization and standardization simultaneously and managing their effects intelligently to eliminate any negative effects and addicting people with its adaptive fondness Read more: http://www.oxbridgewriters.com/essays/marketing/global-marketing.php#ixzz2Bwx0DLy9

Rappaccinis Daughter - Ambiguous Essay -- Rappaccinis Daughter Essay

Rappaccini’s Daughter  Ã‚  Ã‚  -   Ambiguous  Ã‚  Ã‚  Ã‚   Hawthorne’s Rappaccini’s Daughter is a Gothic romance and a thwarted, almost-allegory with a plethora of ambiguous meanings. As Hawthorne identifies in the previous quote, this story is a blatant parallel towards the story of Original Sin. The issue, then, lies in the representation. Who is playing Adam and Eve? Who is Satan and who is God? At first glance it is easy to assume that the two love birds, Giovanni and Beatrice, are Adam and Eve; while Beatrice’s black cloaked father is Satan, and God is either an omniscient overseer, represented in nature, or absent from the story all together. However, Hawthorne begins the endless possibilities of role assignments by suggesting that Beatrice’s father, the diabolic scientist, Rapaccinni, could be Adam. "It was strangely frightful to the young man’s imagination, to see this air of insecurity in a person cultivating a garden, that most simple and innocent of human toils, and which had been alike the joy and labor of the unfallen parents of the race. Was this garden, then, the Eden of the present world?---and this man, with such a perception of harm in what his own hands caused to grow, was he the Adam?" (1232) Hawthorne’s "Rappaccini’s Daughter" is a Gothic romance and a thwarted, almost-allegory with a plethora of ambiguous meanings. As Hawthorne identifies in the previous quote, this story is a blatant parallel towards the story of Original Sin. The issue, then, lies in the representation. Who is playing Adam and Eve? Who is Satan and who is God? At first glance it is easy to assume that the two love birds, Giovanni and Beatrice, are Adam and Eve; while Beatrice’s black cloaked father is Satan, and God is either an omniscient ov... ...y evil character as Iago and to simultaneously be compared to a type of Christ. "Rappaccini’s Daughter" contrasts nature to science. Rappaccini and Baglioni are scientists, Giovanni is studying it and Beatrice is a victim of it. Nature, in it’s romantic form, does not exist in this tale. Rappaccini’s garden is about as natural as walking into the plastic flower department of a craft store and commenting on the bold colors and illustrious blooms. It might look magnificent from the window of Giovanni’s abode, but it was crafted by man, not nature. Rappaccini takes "nature" a step further by making something as natural and pure as life, twisted and synthetic. Nature has become perverse and contorted by science. Works Cited: Hawthorne, Nathaniel. Rappaccini's Daughter, included in Heath Anthology of American Literature; Houghton Mifflin Co., New York, 1998.

Private Prisons Negativly Impact State and Local Governments Essay

Private prisons have a negative effect on states and local governments. Unfortunately, the number of private prisons has been increasing since their inception in 1983 causing further problems. For-profit prisons offer no real benefits and are bad investments for states. Furthermore, private prisons beleaguer communities with high turnover rates that hurt local economies. The demands of these institutions put an excessive burden on the local community’s infrastructure. Similarly, private prisons strain the county and city legal systems. More often than not, spin-off industries and economic benefits promised by the for-profit correction industry fail to appear. Additionally, private prisons are allowed to cherry pick the least expensive inmates, leaving the more expensive inmates for the state. A number of studies financed by the private prison industry give the misconception that they save states money. More importantly, the need to make a profit is an incentive for private pri son industry officials to engage in nefarious activities. Private prisons are correctional institutions ran by for-profit corporations. They claim to cost less than prisons ran by the state, while offering the same level of service. In fact, the Corrections Corporation of America, one of the largest for-profit prison corporations, states that their business strategy is to provide quality corrections service while offering a better value to their government partners at the same time making a profit (CCA 2010). However, opponents of private prisons say they do not save states money because of their hidden cost. At any rate, more than a few states have found private prisons to be advantageous. For one reason, many states are facing massive deficits and are l... ...e-new-american-gold-mine/>. Setti, Christopher. "Prisons and Their Effect on Local Economies: The Colorado Experience." University of Colorado, Denver 2001st ser. XLVII.3 (2001): 1-9. Print. Shapiro, David. Banking on Bondage: Private Prisons and Mass Incarceration. Rep. New York: American Civil Liberties Union, 2011. Print. Smith, Abbe. "Undue Process." The New York Times 31 Mar. 2013: BR21. Print. Urbina, Ian. "Despite Red Flags About Judges, A Kickback Scheme Flourished." The New York Times 28 Mar. 2009: A1. Print. Wilder, Forrest. "Jailbait." TexasObserver.org. 20 Oct. 2006. Web. 12 Sept. 2013. . Yeoman, Barry. "Steel Town Lockdown." Mother Jones. May-June 2000. Web. 12 Nov. 2013. .

Consulting Report of Solberri Hotel

Solberri Hotel January 20 2012 This report is in response to the request by Solberri hotel group for a review of its facing issues and identification of possible solutions. Consulting report ? STATE OF AFFAIRS Solberri is a group of resort hotels registered as a listed company with 12 resort hotels in Europe. Established in the 1980s, it had run successfully until 2003 and also incurred losses in 2005 and 2006. To improve the situation, Solberri implemented strategy changes to the hotel operating environment such as the pricing changes and a refurbishment program. With these adjustments, situation gets better with a large forecast cash surplus in this financial year. Currently the chain of hotels is faced with critical issues revolving around its operation including human resources that are better explained with the help of SWOT analysis in Appendix 1. It is important for Solberri to make use of the management tools to understand the current situation and to achieve the revenue target, increased share holder value and better customer satisfaction. ? ISSUES IN HAND Solberri is faced with multiple issues that act as a barrier to meet their goals and target. From our review and understanding of the environment we put forth the below issues and rank them as priority and other issues. Priority issues: †¢Poor customer experience that could be a result of ethical issues such as oPoor treatment of General manages and senior employees. oMisdistribution of tips oInvestment in unprofitable environmentally friendly initiatives. †¢The potential need to borrow money to enhance spas before the 2007/08 Peak season †¢The need to raise occupancy rates and earnings generated from extra charges to hit the planned revenue for the financial year ending September 2008 †¢The poor share price and vulnerability of Solberri Other issues: †¢Installation of solar panels †¢Non-participation in the international star ratings system †¢Potential problems with the quality of outsourced services †¢Upgrading website to include a virtual tour of facilities . ? ISSUE ANALYSIS In this section, the analysis is done for top priority issues. Customer service and relevant HR issues. The quality of customer service is crucial to companies’ survival in service industry. Unfortunately, the service provided by Solberri failed to meet the expected standard of its customers. The main reason for poor customer service is employees’ lack of skills and motivation. The majority of Solberri employees are temporary, with limited knowledge of the hotel industry and relevant skills. Besides, all short-term employees only receive two days introduction training which is apparently insufficient. The customer service can be improved in two aspects. In the short term, Nick Silva, customer service Director, needs to review staffing level immediately to meet the upcoming demand. Strict selection and a specific regular training program are needed to ensure the quality of its employees. In the long term, adjusting the ratio of the number of long-term employees to that of short-term ones is necessary. Too many temporary employees lead to poor customer service and low stock of talents, resulting in General managers working long hours and under high stress (more details in ethical issues). Though more long-term employees mean more costs, the benefits from improved customer service will outweigh the costs. Furthermore, because recognition of employees’ efforts can stimulate them to offer better service, some motivation measures are recommended. According to ERG theory, people in different levels have different needs. Most temporary employees are in the existence level, they need money to maintain their existence requirements, and therefore incentives such as bonus will be useful. However, most long-term employees are in relatedness and growth level, so incentives such as vocation award or decision making involvement will be suitable. With the new recruitment, training and incentives, it’s estimated that an additional employee cost of â‚ ¬7. 5 million will be incurred, a 12% increase from last year. Ethical issues Two ethical issues will be discussed in this report. a. Poor treatment of employees. General Managers and key senior employees are working under high stress over 16 hours every day. Solberri gets into ethical issue of overworking employees and paying no compensation. Due to a shortage of senior employees, their workload is unlikely to be reduced immediately. Therefore, the hotel should compensate for their overwork. To solve this problem fundamentally Soberri should reserve sufficient elites by increasing its long-term employees. b. Misdistribution of tips. When Solberri collected all the tips and evenly distributed them to employees, an ethical issue arose for the transparency and fairness of such distribution. Such controversial tips distribution should be changed back to the traditional way—employees can keep the tips for themselves. For those non-facing-customer employees who don’t get tips, Solberri is recommended to increase their bonus to make up the difference. Forecast cash surplus investment issue Before analyzing the four proposals, it’s important to know how much cash is available for investment. Since Solberri is under loan covenants and other financing alternatives such as rights issue can’t raise funds in a short time, the only source of funds is the internal capital. It’s estimated that 59 million cash will be generated from operations in this financial year. After deducting finance costs, tax, dividends and additional HR reform costs in the first issue, there’s only â‚ ¬30. 9 million cash available. (Appendix 2. 1) The total amount for the four proposals is â‚ ¬123 million (Appendix 2. 2). Solberri has to perform a cost benefit analysis to choose the most profitable proposal as it is clear that Solberri doesn’t have enough funds to implement all of them. Proposal A is to extend the number of rooms at the four â€Å"Premier† hotels by adding each another 200 rooms and supporting facilities. It’s estimated to generate â‚ ¬10 million NPV for each hotel over a 5-year period based on an 80% occupancy level. However, this may have some negative effects since the additional rooms and facilities make the hotel more crowded and less comfortable. Therefore, the 80% occupancy level is not guaranteed. Besides, it’s just the first year that Solberri has had such high occupancy levels. Extending the number of rooms in such a large scale is too risky. Proposal B is to invest in refurbishment and extend spa facilities at the remaining hotels. The forecast cost is â‚ ¬6 million for each hotel. The high level of bookings at the 4 â€Å"Premier† hotels during the 2008 Peak season has demonstrated the success of the refurbishment plan. So this proposal contains relatively little risk. Furthermore, spa facilities have become a key selling point in resort hotels. This new trend provides great opportunity for Solberri to escape from the Red Ocean, the very competitive market of traditional resort hotels. By differentiating itself by providing exclusive spa facilities, Solberri can successfully grab the Blue-ocean market, namely the profitable and rapidly-developing market of resort hotels with exclusive spa facilities. Finally, refurbishing the hotels can improve Solberri’s profit margin. However, refurbishing all the remaining hotels simultaneously is beyond Solberri’s financial ability. It’s recommended that Solberri refurbish only three hotels—two â€Å"Superior† and one â€Å"Super Plus†. Refurbishing the â€Å"Super Plus† hotels is riskier since there is no previous experience and the refurbishment will need to close permanently 15 rooms in each hotel. But if Solberri only refurbish â€Å"Superior† hotels, in a short time, there will be a gap in middle-priced hotels, which is unfavorable to the company’s strategic development. Proposal C is to acquire an additional resort hotel costing 24 million. The expected NPV is â‚ ¬39. 2 million (Appendix 2. 3). Besides, the breakeven occupancy level is 60% (Appendix 2. 4), which is quite easy to achieve. So Proposal C seems profitable with reasonable risk. However, the initiate cost is too large as it’s for only one hotel. Compared with Proposal B, it’s too risky for Solberri in its first year with such good performance. Proposal D is to invest in environmentally friendly initiatives including the installation of solar panels costing â‚ ¬6 million and other environmental initiatives costing â‚ ¬9 million. Though investing in these initiatives cannot generate profits for the company directly, it can help establish Solberri as a socially responsible company which will be positive to its image. But funds are so limited that investing in all these in unrealistic. It’s recommended that Solberri invest in the solar panel project first since it can produce cost savings of 0. 6 million per year and defer the others. Loan covenant restriction The â‚ ¬20 million loan negotiated at the end of 2007 has loan covenants restricting the company’s further loan financing within 2 years from December 2007, resulting in a probable capital shortage for its future development. Solberri can try negotiating with the bank for removal of restriction by showing them the latest forecast figures and the high level of bookings. However, the good performance of only one year wouldn’t be convincing enough to the bank. Solberri can also try refinancing by issuing additional stocks through public offering or private placement. However, due to the relatively high standard and costly registration of public offering, private placement is preferable. With low threshold for issuing, private placement is feasible for Solberri whose business just began to pick up after slow seasons. With the good performance this year, it’s probable that the Solberri will attract strategic investment from institutional investors via private placements to ensure its future development. The poor share price and vulnerability of Solberri RECOMMENDATION Customer service and related HR issues. It is recommended that Solberri immediately work out a plan for recruitment and training, to ensure job fit and effective training among all employees. Employees who can’t provide the high standard of service will be refused or assigned to non-facing-customer positions. Moreover, Solberri should set up appropriate motivation mechanisms such as bonus and vacation rewards. It is also recommended that Solberri enlarge its long-term employee proportion by training some short-term employees to be skillful long-term ones. In this way, more employees will cultivate a sense of responsibility and can handle the previous temporary employees’ work in non-peak season. Ethical issues It’s recommended that Solberri compensate for employees’ overwork. In the long run, the company needs to enlarge its senior employee reserve. It’s recommended that Solberri abandon its controversial tips distribution and set up a bonus system for non-facing customer employees to make up their income difference. Forecast cash surplus investment issue It’s recommended that Solberri spend its forecast cash surplus on Proposal B to refurbish and extend the spa facilities at two â€Å"Superior† hotels and one â€Å"Super Plus† hotel, which costs â‚ ¬18 million in total. Since it’s just the first year Solberri has performed so well in these years, it’s better for it to be conservative towards investment. It’s also recommended that Solberri invest in the installation of solar panels at all 12 hotels costing â‚ ¬6 million and postpone other environmentally friendly initiatives due to its limited funds. These two plans will result in â‚ ¬6. 9 million cash retained Appendix 2. 5), which will help improve the liquidity of Solberri. . Loan covenant restriction It is recommended that Solberri try to negotiate with the bank for removal of the restriction. If it’s not workable, Solberri could try seasoned equity offering to refinance either by public offering or private placement, while private placement seems to be most feasible for Solberri and thus is highly recommended. If external financing doesn’t work, it is highly recommended that Solberri try all means to control its costs. The poor share price and vulnerability of Solberri ? CONCLUSION Solberri is now at a crucial time since it’s the first time it has had such good performance in these years. It is now facing several important issues. The most important ones are how to solve the poor customer service problem and which investment proposal to choose for its future development to increase the occupancy level for all the hotel rooms. It is believed that the analysis and recommendations above can serve as useful references for its decision-making. Solberri has to differentiate itself in the market through a shift by showcasing its spa facilities as its forefront in capturing holiday makers. With a change in visa regulations in Europe Solberri may opt to pay more attention to its local clients by offering the day use of the hotel’s services and facilities during non-peak seasons. To position itself as a â€Å"holiday resort hotel†, there should be a refurbishment of Solberri’s hotels to â€Å"Premier† standards ? SWOT ANALYSIS STRENGTHS †¢Good reputation with a long history; †¢Proven track record of range of spa facilities †¢Successful refurbishment program †¢Many of long-term employees have worked for Solberri for over 10 years with rich experience. †¢Stable co-operation with several travel agents. Experienced board directors. †¢High sense of Corporate Social Responsibility( 1 hotel won a bronze award in the Green Tourism business awards, 2007 †¢High level of bookings for Peak season 2008 with large cash surplus forecast WEAKNESS †¢Outdated information technology systems. †¢Restrictive loan covenan t. †¢Difficulty in enforcing agreed quality service levels. †¢Declining share price compared to 2002 †¢Poor customer service with disappointing customer feedback. †¢Low level of repeat booking. †¢Lack of motivation of short-term employees. †¢Poorly structured financial planning. †¢Resignation of Finance Director. OPPORTUNITIES High level of bookings and a forecast cash surplus of â‚ ¬59 million which can be used for further expansion, refurbishment program, paying dividends, and(or) meeting CSR by investing in environmentally friendly initiatives; †¢ Huge potential market for Spa service †¢Pricing structure changes to boost occupancy levels †¢Effective use of variety of media to generate more sales THREATS †¢ External completion from other hotel industries †¢ Understaffing and poor service to meet the high level booking that could impact reputation †¢Resistance from †¢Competitors having state of art information technology can be market eaders. †¢ Fall in spa revenues of one â€Å"premier† hotel due to a rival business operated by an ex-manager. †¢Difference of opinion amongst management staff may delay the strategy implementation. WORKINGS 2. 1. 1 Investible surplus â‚ ¬59 million is cash generated from operations before finance costs, tax and dividends, which should be deducted. Besides, the additional operation cost incurred by human resources management should also be deducted in order to get the available cash for investment. 2. 1. 2Cost of finance S. No. AmountRate of InterestDetailsDuration for CYInterest Cost a. 12 m10%Oct- Dec ‘073 monthsâ‚ ¬0. 3 m b. â‚ ¬6 m8%Repayable in Sep 20101 yrâ‚ ¬0. 48m c. â‚ ¬15 m11%June 20121 yrâ‚ ¬1. 65m d. â‚ ¬20 m10%Jan-2008 to Dec ‘149 mthsâ‚ ¬1. 5m Totalâ‚ ¬3. 93 m Notes: a. â‚ ¬12 million loan at 10% repayable in December 2007 -As its repayable date is in December 2007, the interest expens e incurred in this accounting period is only for three months (October 2007 to December 2007). â‚ ¬12 million*10%*3/12 = â‚ ¬0. 3 million b. â‚ ¬6 million loan at 8% repayable in September 2010 -â‚ ¬6 million*8% = â‚ ¬0. 48 million c. â‚ ¬15 million loan at 11% repayable in June 2012 -â‚ ¬15 million*11% = â‚ ¬1. 5 million d. â‚ ¬20 million loan at 10% beginning in January 2008 and repayable in December 2014 -As this loan began in January 2008, the interest expense incurred in this accounting period is only for nine months (January 2008 to September 2008). â‚ ¬20 million*10%*9/12 = â‚ ¬1. 5 million 2. 1. 3 Tax expense As stated in the case, the post-tax profit for the year ended September 2008 will be â‚ ¬27 million. Based on the tax rate of 32%, the taxable income = â‚ ¬27 million/(1-32%) = â‚ ¬39. 7 million . Therefore, the tax expense = â‚ ¬39. 7 million*32% = â‚ ¬12. 7 million 2. 1. 4 Dividends In 2007, Solberri made a profit of â‚ ¬5 million and paid â‚ ¬2 million for dividends, which equals a dividend per share of â‚ ¬0. 083. It’s recommended that Solberri double the DPS this year, making the total dividends expenditure as much as â‚ ¬4 million. 2. 1. 5 Additional operation cost As is mentioned before, the high occupancy level this year will incur additional operational cost due to the employee recruitment, training and motivation. It’ estimated to be around â‚ ¬7. 5 million based on an estimated 12% increase compared with 2007 when the staff costs were â‚ ¬62 million. Cash Available for Investment( in million) Investible surplus( before deduction)= â‚ ¬59. 00 Less: Interest cost –â‚ ¬3. 93 Tax expense –â‚ ¬12. 7 Dividend expense –â‚ ¬4. 00 Additional operation cost –â‚ ¬7. 5 Net surplus= â‚ ¬30. 9 2. 2. Total cost for all four investment proposals : ProposalInvestment cost per hotelNumber of hotelsTotal cost Aâ‚ ¬9 million4â‚ ¬36 million Bâ‚ ¬6 million8â‚ ¬48 million C****â‚ ¬24 million Dâ‚ ¬15 million Total costâ‚ ¬123 million **Total cost for Proposal C = acquiring cost + refurbishing cost + marketing cost = â‚ ¬5 million +â‚ ¬16 million+â‚ ¬3 million = â‚ ¬24 million Total cost for Proposal D = â‚ ¬15 million 2. . Expected NPV of Proposal C As is shown in the case, when occupancy level equals 95%, the NPV will be â‚ ¬100. 0 million. When it’s 80%, the NPV will be â‚ ¬35 million. When it’s 50%, the NPV will be –â‚ ¬25 million. And their probabilities are 25%, 60% and 15% respe ctively. Therefore, the weighted average NPV = â‚ ¬100. 0 million*25% + â‚ ¬35. 0 million*60% +(-â‚ ¬25 million)*15% = â‚ ¬42. 2 million However the marketing cost of â‚ ¬3 million is excluded in the above NPV, so the expected NPV of Proposal C = â‚ ¬42. 2 million – â‚ ¬3 million = â‚ ¬39. 2 million 2. 4. Breakeven occupancy level of Proposal C When occupancy level equals 95%, the NPV will be â‚ ¬97 million. When it’s 50%, the NPV will be -â‚ ¬28 million. Thus, when the occupancy level decreases by 1%, the NPV will decrease by â‚ ¬2. 78 million. [â‚ ¬97 million – (-â‚ ¬28 million)] / (95-50) = â‚ ¬2. 78 million In this way, when the occupancy level changes by about 35% (97/2. 78), the NPV will decrease to zero. Therefore, the breakeven occupancy level is around 60%. 2. 5 Estimated cash retained Estimated cash retained = cash available for investment – investment costs = â‚ ¬30. 9 million –â‚ ¬24 million = â‚ ¬6. 9 million Comparison between Solberri and Shangri-la Asia Limited with the DuPont Model 3. 1 DuPont Model of Solberri 2007 Return on Equity (ROE) 0. 568 Return on Assets (ROA) 0. 3086? Equity Multiplier (EM) 1. 8409 Profit Margin 0. 0314? Total Asset Turnover 0. 9815 1 /(1—Debt Ratio 0. 4568) Net Income/Net Sales Net Sales/Average Total Assets Total Liabilities/Total Assets 3. 2 DuPont Model of Shangri-la Asia Limited 200 7 Return on Equity (ROE) 0. 1046 Return on Assets (ROA) 0. 1029? Equity Multiplier (EM) 1. 016 Profit Margin 0. 3069? Total Asset Turnover 0. 3354 1 /(1—Debt Ratio 0. 0159) Net Income/Net Sales Net Sales/Average Total Assets Total Liabilities/Total Assets Comparison between Solberri and Shangri-la Asia Limited with the DuPont Model 3. DuPont Model of Solberri 2007 Return on Equity (ROE) 0. 0568 Return on Assets (ROA) 0. 3086? Equity Multiplier (EM) 1. 8409 Profit Margin 0. 0314? Total Asset Turnover 0. 9815 1 /(1—Debt Ratio 0. 4568) Net Income/Net Sales Net Sales/Average Total Assets Total Liabilities/Total Assets 3. 2 DuPont Model of Shangri-la Asia Limited 2007 Return on Equity (ROE) 0. 1046 Return on Assets (ROA) 0. 1029? Equity Multiplier (EM) 1. 016 Profit Margin 0. 3069? Total Asset Turnover 0. 3354 1 /(1—Debt Ratio 0. 0159) Net Income/Net Sales Net Sales/Average Total Assets T Solberri Hotel January 20 2012 This report is in response to the request by Solberri hotel group for a review of its facing issues and identification of possible solutions. Consulting report ? STATE OF AFFAIRS Solberri is a group of resort hotels registered as a listed company with 12 resort hotels in Europe. Established in the 1980s, it had run successfully until 2003 and also incurred losses in 2005 and 2006. To improve the situation, Solberri implemented strategy changes to the hotel operating environment such as the pricing changes and a refurbishment program. With these adjustments, situation gets better with a large forecast cash surplus in this financial year. Currently the chain of hotels is faced with critical issues revolving around its operation including human resources that are better explained with the help of SWOT analysis in Appendix 1. It is important for Solberri to make use of the management tools to understand the current situation and to achieve the revenue target, increased share holder value and better customer satisfaction. ? ISSUES IN HAND Solberri is faced with multiple issues that act as a barrier to meet their goals and target. From our review and understanding of the environment we put forth the below issues and rank them as priority and other issues. Priority issues: †¢Poor customer experience that could be a result of ethical issues such as oPoor treatment of General manages and senior employees. oMisdistribution of tips oInvestment in unprofitable environmentally friendly initiatives. †¢The potential need to borrow money to enhance spas before the 2007/08 Peak season †¢The need to raise occupancy rates and earnings generated from extra charges to hit the planned revenue for the financial year ending September 2008 †¢The poor share price and vulnerability of Solberri Other issues: †¢Installation of solar panels Non-participation in the international star ratings system †¢Potential problems with the quality of outsourced services †¢Upgrading website to include a virtual tour of facilities . ? ISSUE ANALYSIS In this section, the analysis is done for top priority issues. Customer service and relevant HR issues. The quality of customer service is crucial to companies’ survival in service ind ustry. Unfortunately, the service provided by Solberri failed to meet the expected standard of its customers. The main reason for poor customer service is employees’ lack of skills and motivation. The majority of Solberri employees are temporary, with limited knowledge of the hotel industry and relevant skills. Besides, all short-term employees only receive two days introduction training which is apparently insufficient. The customer service can be improved in two aspects. In the short term, Nick Silva, customer service Director, needs to review staffing level immediately to meet the upcoming demand. Strict selection and a specific regular training program are needed to ensure the quality of its employees. In the long term, adjusting the ratio of the number of long-term employees to that of short-term ones is necessary. Too many temporary employees lead to poor customer service and low stock of talents, resulting in General managers working long hours and under high stress (more details in ethical issues). Though more long-term employees mean more costs, the benefits from improved customer service will outweigh the costs. Furthermore, because recognition of employees’ efforts can stimulate them to offer better service, some motivation measures are recommended. According to ERG theory, people in different levels have different needs. Most temporary employees are in the existence level, they need money to maintain their existence requirements, and therefore incentives such as bonus will be useful. However, most long-term employees are in relatedness and growth level, so incentives such as vocation award or decision making involvement will be suitable. With the new recruitment, training and incentives, it’s estimated that an additional employee cost of â‚ ¬7. 5 million will be incurred, a 12% increase from last year. Ethical issues Two ethical issues will be discussed in this report. a. Poor treatment of employees. General Managers and key senior employees are working under high stress over 16 hours every day. Solberri gets into ethical issue of overworking employees and paying no compensation. Due to a shortage of senior employees, their workload is unlikely to be reduced immediately. Therefore, the hotel should compensate for their overwork. To solve this problem fundamentally Soberri should reserve sufficient elites by increasing its long-term employees. b. Misdistribution of tips. When Solberri collected all the tips and evenly distributed them to employees, an ethical issue arose for the transparency and fairness of such distribution. Such controversial tips distribution should be changed back to the traditional way—employees can keep the tips for themselves. For those non-facing-customer employees who don’t get tips, Solberri is recommended to increase their bonus to make up the difference. Forecast cash surplus investment issue Before analyzing the four proposals, it’s important to know how much cash is available for investment. Since Solberri is under loan covenants and other financing alternatives such as rights issue can’t raise funds in a short time, the only source of funds is the internal capital. It’s estimated that 59 million cash will be generated from operations in this financial year. After deducting finance costs, tax, dividends and additional HR reform costs in the first issue, there’s only â‚ ¬30. 9 million cash available. (Appendix 2. 1) The total amount for the four proposals is â‚ ¬123 million (Appendix 2. 2). Solberri has to perform a cost benefit analysis to choose the most rofitable proposal as it is clear that Solberri doesn’t have enough funds to implement all of them. Proposal A is to extend the number of rooms at the four â€Å"Premier† hotels by adding each another 200 rooms and supporting facilities. It’s estimated to generate â‚ ¬10 million NPV for each hotel over a 5-year period based on an 80% occupancy level. However, this may h ave some negative effects since the additional rooms and facilities make the hotel more crowded and less comfortable. Therefore, the 80% occupancy level is not guaranteed. Besides, it’s just the first year that Solberri has had such high occupancy levels. Extending the number of rooms in such a large scale is too risky. Proposal B is to invest in refurbishment and extend spa facilities at the remaining hotels. The forecast cost is â‚ ¬6 million for each hotel. The high level of bookings at the 4 â€Å"Premier† hotels during the 2008 Peak season has demonstrated the success of the refurbishment plan. So this proposal contains relatively little risk. Furthermore, spa facilities have become a key selling point in resort hotels. This new trend provides great opportunity for Solberri to escape from the Red Ocean, the very competitive market of traditional resort hotels. By differentiating itself by providing exclusive spa facilities, Solberri can successfully grab the Blue-ocean market, namely the profitable and rapidly-developing market of resort hotels with exclusive spa facilities. Finally, refurbishing the hotels can improve Solberri’s profit margin. However, refurbishing all the remaining hotels simultaneously is beyond Solberri’s financial ability. It’s recommended that Solberri refurbish only three hotels—two â€Å"Superior† and one â€Å"Super Plus†. Refurbishing the â€Å"Super Plus† hotels is riskier since there is no previous experience and the refurbishment will need to close permanently 15 rooms in each hotel. But if Solberri only refurbish â€Å"Superior† hotels, in a short time, there will be a gap in middle-priced hotels, which is unfavorable to the company’s strategic development. Proposal C is to acquire an additional resort hotel costing 24 million. The expected NPV is â‚ ¬39. 2 million (Appendix 2. 3). Besides, the breakeven occupancy level is 60% (Appendix 2. 4), which is quite easy to achieve. So Proposal C seems profitable with reasonable risk. However, the initiate cost is too large as it’s for only one hotel. Compared with Proposal B, it’s too risky for Solberri in its first year with such good performance. Proposal D is to invest in environmentally friendly initiatives including the installation of solar panels costing â‚ ¬6 million and other environmental initiatives costing â‚ ¬9 million. Though investing in these initiatives cannot generate profits for the company directly, it can help establish Solberri as a socially responsible company which will be positive to its image. But funds are so limited that investing in all these in unrealistic. It’s recommended that Solberri invest in the solar panel project first since it can produce cost savings of 0. 6 million per year and defer the others. Loan covenant restriction The â‚ ¬20 million loan negotiated at the end of 2007 has loan covenants restricting the company’s further loan financing within 2 years from December 2007, resulting in a probable capital shortage for its future development. Solberri can try negotiating with the bank for removal of restriction by showing them the latest forecast figures and the high level of bookings. However, the good performance of only one year wouldn’t be convincing enough to the bank. Solberri can also try refinancing by issuing additional stocks through public offering or private placement. However, due to the relatively high standard and costly registration of public offering, private placement is preferable. With low threshold for issuing, private placement is feasible for Solberri whose business just began to pick up after slow seasons. With the good performance this year, it’s probable that the Solberri will attract strategic investment from institutional investors via private placements to ensure its future development. The poor share price and vulnerability of Solberri RECOMMENDATION Customer service and related HR issues. It is recommended that Solberri immediately work out a plan for recruitment and training, to ensure job fit and effective training among all employees. Employees who can’t provide the high standard of service will be refused or assigned to non-facing-customer positions. Moreover, Solberri should set up appropriate motivation mechanisms such as bonus and vacation rewards. It is also recommended that Solberri enlarge its long-term employee proportion by training some short-term employees to be skillful long-term ones. In this way, more employees will cultivate a sense of responsibility and can handle the previous temporary employees’ work in non-peak season. Ethical issues It’s recommended that Solberri compensate for employees’ overwork. In the long run, the company needs to enlarge its senior employee reserve. It’s recommended that Solberri abandon its controversial tips distribution and set up a bonus system for non-facing customer employees to make up their income difference. Forecast cash surplus investment issue It’s recommended that Solberri spend its forecast cash surplus on Proposal B to refurbish and extend the spa facilities at two â€Å"Superior† hotels and one â€Å"Super Plus† hotel, which costs â‚ ¬18 million in total. Since it’s just the first year Solberri has performed so well in these years, it’s better for it to be conservative towards investment. It’s also recommended that Solberri invest in the installation of solar panels at all 12 hotels costing â‚ ¬6 million and postpone other environmentally friendly initiatives due to its limited funds. These two plans will result in â‚ ¬6. 9 million cash retained (Appendix 2. ), which will help improve the liquidity of Solberri. . Loan covenant restriction It is recommended that Solberri try to negotiate with the bank for removal of the restriction. If it’s not workable, Solberri could try seasoned equity offering to refinance either by public offering or private placement, while private placement seems to be most feasible for Solberri and thus is highly recommended. If external financing doesn’t work, it is highly recommended that Solberri try all means to control its costs. The poor share price and vulnerability of Solberri ? CONCLUSION Solberri is now at a crucial time since it’s the first time it has had such good performance in these years. It is now facing several important issues. The most important ones are how to solve the poor customer service problem and which investment proposal to choose for its future development to increase the occupancy level for all the hotel rooms. It is believed that the analysis and recommendations above can serve as useful references for its decision-making. Solberri has to differentiate itself in the market through a shift by showcasing its spa facilities as its forefront in capturing holiday makers. With a change in visa regulations in Europe Solberri may opt to pay more attention to its local clients by offering the day use of the hotel’s services and facilities during non-peak seasons. To position itself as a â€Å"holiday resort hotel†, there should be a refurbishment of Solberri’s hotels to â€Å"Premier† standards ? SWOT ANALYSIS STRENGTHS †¢Good reputation with a long history; †¢Proven track record of range of spa facilities †¢Successful refurbishment program †¢Many of long-term employees have worked for Solberri for over 10 years with rich experience. †¢Stable co-operation with several travel agents. Experienced board directors. †¢High sense of Corporate Social Responsibility( 1 hotel won a bronze award in the Green Tourism business awards, 2007 †¢High level of bookings for Peak season 2008 with large cash surplus forecast WEAKNESS †¢Outdated information technology systems. †¢Restrictive loan covenan t. †¢Difficulty in enforcing agreed quality service levels. †¢Declining share price compared to 2002 †¢Poor customer service with disappointing customer feedback. †¢Low level of repeat booking. †¢Lack of motivation of short-term employees. †¢Poorly structured financial planning. Resignation of Finance Director. OPPORTUNITIES †¢High level of bookings and a forecast cash surplus of â‚ ¬59 million which can be used for further expansion, refurbishment program, paying dividends, and(or) meeting CSR by investing in environmentally friendly initiatives; †¢ Huge potential market for Spa service †¢Pricing structure changes to boost occupancy levels †¢Effective use of variety of media to generate more sales THREATS †¢ External completion from other hotel industries †¢ Understaffing and poor service to meet the high level booking that could impact reputation †¢Resistance from Competitors having state of art information techno logy can be market leaders. †¢ Fall in spa revenues of one â€Å"premier† hotel due to a rival business operated by an ex-manager. †¢Difference of opinion amongst management staff may delay the strategy implementation. WORKINGS 2. 1. 1 Investible surplus â‚ ¬59 million is cash generated from operations before finance costs, tax and dividends, which should be deducted. Besides, the additional operation cost incurred by human resources management should also be deducted in order to get the available cash for investment. 2. 1. 2Cost of finance S. No. AmountRate of InterestDetailsDuration for CYInterest Cost a. â‚ ¬12 m10%Oct- Dec ‘073 monthsâ‚ ¬0. 3 m b. â‚ ¬6 m8%Repayable in Sep 20101 yrâ‚ ¬0. 48m c. â‚ ¬15 m11%June 20121 yrâ‚ ¬1. 65m d. â‚ ¬20 m10%Jan-2008 to Dec ‘149 mthsâ‚ ¬1. 5m Totalâ‚ ¬3. 93 m Notes: a. â‚ ¬12 million loan at 10% repayable in December 2007 -As its repayable date is in December 2007, the interest expense incurred in this accounting period is only for three months (October 2007 to December 2007). â‚ ¬12 million*10%*3/12 = â‚ ¬0. 3 million b. â‚ ¬6 million loan at 8% repayable in September 2010 -â‚ ¬6 million*8% = â‚ ¬0. 48 million c. 15 million loan at 11% repayable in June 2012 -â‚ ¬15 million*11% = â‚ ¬1. 65 million d. â‚ ¬20 million loan at 10% beginning in January 2008 and repayable in December 2014 -As this loan began in January 2008, the interest expense incurred in this accounting period is only for nine months (January 2008 to S eptember 2008). â‚ ¬20 million*10%*9/12 = â‚ ¬1. 5 million 2. 1. 3 Tax expense As stated in the case, the post-tax profit for the year ended September 2008 will be â‚ ¬27 million. Based on the tax rate of 32%, the taxable income = â‚ ¬27 million/(1-32%) = â‚ ¬39. 7 million . Therefore, the tax expense = â‚ ¬39. 7 million*32% = â‚ ¬12. 7 million 2. . 4 Dividends In 2007, Solberri made a profit of â‚ ¬5 million and paid â‚ ¬2 million for dividends, which equals a dividend per share of â‚ ¬0. 083. It’s recommended that Solberri double the DPS this year, making the total dividends expenditure as much as â‚ ¬4 million. 2. 1. 5 Additional operation cost As is mentioned before, the high occupancy level this year will incur additional operational cost due to the employee recruitment, training and motivation. It’ estimated to be around â‚ ¬7. 5 million based on an estimated 12% increase compared with 2007 when the staff costs were â‚ ¬62 m illion. Cash Available for Investment( in million) Investible surplus( before deduction)= â‚ ¬59. 00 Less: Interest cost –â‚ ¬3. 93 Tax expense –â‚ ¬12. 7 Dividend expense –â‚ ¬4. 00 Additional operation cost –â‚ ¬7. 5 Net surplus= â‚ ¬30. 9 2. 2. Total cost for all four investment proposals : ProposalInvestment cost per hotelNumber of hotelsTotal cost Aâ‚ ¬9 million4â‚ ¬36 million Bâ‚ ¬6 million8â‚ ¬48 million C****â‚ ¬24 million Dâ‚ ¬15 million Total costâ‚ ¬123 million **Total cost for Proposal C = acquiring cost + refurbishing cost + marketing cost = â‚ ¬5 million +â‚ ¬16 million+â‚ ¬3 million = â‚ ¬24 million Total cost for Proposal D = â‚ ¬15 million . 3. Expected NPV of Proposal C As is shown in the case, when occupancy level equals 95%, the NPV will be â‚ ¬100. 0 million. When it’s 80%, the NPV will be â‚ ¬35 million. When it’s 50%, the NPV will be –â‚ ¬25 million. And their probabilities are 25%, 60% and 15% respe ctively. Therefore, the weighted average NPV = â‚ ¬100. 0 million*25% + â‚ ¬35. 0 million*60% +(-â‚ ¬25 million)*15% = â‚ ¬42. 2 million However the marketing cost of â‚ ¬3 million is excluded in the above NPV, so the expected NPV of Proposal C = â‚ ¬42. 2 million – â‚ ¬3 million = â‚ ¬39. 2 million 2. 4. Breakeven occupancy level of Proposal C When occupancy level equals 95%, the NPV will be â‚ ¬97 million. When it’s 50%, the NPV will be -â‚ ¬28 million. Thus, when the occupancy level decreases by 1%, the NPV will decrease by â‚ ¬2. 78 million. [â‚ ¬97 million – (-â‚ ¬28 million)] / (95-50) = â‚ ¬2. 78 million In this way, when the occupancy level changes by about 35% (97/2. 78), the NPV will decrease to zero. Therefore, the breakeven occupancy level is around 60%. 2. 5 Estimated cash retained Estimated cash retained = cash available for investment – investment costs = â‚ ¬30. 9 million –â‚ ¬24 million = â‚ ¬6. 9 million Comparison between Solberri and Shangri-la Asia Limited with the DuPont Model 3. DuPont Model of Solberri 2007 Return on Equity (ROE) 0. 0568 Return on Assets (ROA) 0. 3086? Equity Multiplier (EM) 1. 8409 Profit Margin 0. 0314? Total Asset Turnover 0. 9815 1 /(1—Debt Ratio 0. 4568) Net Income/Net Sales Net Sales/Average Total Assets Total Liabil ities/Total Assets 3. 2 DuPont Model of Shangri-la Asia Limited 2007 Return on Equity (ROE) 0. 1046 Return on Assets (ROA) 0. 1029? Equity Multiplier (EM) 1. 016 Profit Margin 0. 3069? Total Asset Turnover 0. 3354 1 /(1—Debt Ratio 0. 0159) Net Income/Net Sales Net Sales/Average Total Assets Total Liabilities/Total Assets Comparison between Solberri and Shangri-la Asia Limited with the DuPont Model 3. 1 DuPont Model of Solberri 2007 Return on Equity (ROE) 0. 0568 Return on Assets (ROA) 0. 3086? Equity Multiplier (EM) 1. 8409 Profit Margin 0. 0314? Total Asset Turnover 0. 9815 1 /(1—Debt Ratio 0. 4568) Net Income/Net Sales Net Sales/Average Total Assets Total Liabilities/Total Assets 3. 2 DuPont Model of Shangri-la Asia Limited 2007 Return on Equity (ROE) 0. 1046 Return on Assets (ROA) 0. 1029? Equity Multiplier (EM) 1. 016 Profit Margin 0. 3069? Total Asset Turnover 0. 3354 1 /(1—Debt Ratio 0. 0159) Net Income/Net Sales Net Sales/Average Total Assets T