Are traditions worth preserving? Essay

In this era of humanity, people have come a long way in establishing human rights, liberty, justice and dignity. However not every individual country have upheld these momentum in a dignified way. Take the Jamaica for, example, due to Jamaica’s colonial history; there are some traditions that are not worth preserving at all. In Jamaica and other countries, parents are expected to beat their children as a way of ‘punishing them’. They may do this with various objects, such as a belt, broomstick, ruler, or anything that can subject pain to the human flesh. If parents believe their child is â€Å"misbehaving†. There is no proof that imposing physical pain on youngsters help to discipline them, to become better persons, and to become productive citizens of their countries in the future. There is no logical reasoning or perception that is implied to arrive at a solution to the indiscipline that Caribbean parents may think some of their children have. Instead Caribbean parents do the first thing that comes to their mind; and that is, imposing physical harm on their youngsters. If not, imposing physical harm on children, the next in line would be milder corporal punishments, such as, telling them to kneel on the floor, whether in corners of classrooms or near balconies to face the sun. Also, holding their hand up horizontally for long periods, or holding their hands aside vertically with heavy books in each palm. Any other imaginative means of pursuing corporal punishment. It is reasonable to state that for the Caribbean parents that punish their children corporally; it leaves the intended effect, but only temporarily. That is, the youngster would refrain from the supposedly disapproving activity, but only temporarily. Instead the real effect would be psychological abuse of their state of mind. That is the youngster may be scarred for life, whether he or she is aware of it or not. And so; criminal elements in a society of deteriorated cultural elements are inevitable. If the average Caribbean parent that beat their children knew exactly what child abuse was, while still committing acts of corporal punishments on their youngsters, (beating will be used as the subject in this rhetorical question) wouldn’t it be difficult to generally access what type of beating  is child abuse and what isn’t? Every parent’s assessment of child abuse would be based on personal perception and judgments and not on a general and well established one. The uplifting of children rights is lacking in Jamaica, due to unconsciousness of it. The culture of the average Jamaican adult is, the elder is always correct when in comparison to the perception of a youngster. This ignores the possibility of an adult’s perception being right to a certain extent, that their can be mistakes in perception of an adult, overlooks in perception, and misconceptions, or downright dissipation. Youngsters in this culture are forced to accept that adults are always â€Å"right†. Youngsters in this culture are also forced to accept that adults should be â€Å"respected†, ignoring respect in vice-versa. For â€Å"respect† in Jamaican society, could be that completely different from a dictionary, simply a word with a culture underneath, that is not worth preserving. Another tradition not worth preserving is ‘religious education’ and ‘religious assembles’ in public schools. This is an effect of the colonial past of Jamaica. Youngsters should practice their own beliefs and way of life outside of school. Schools should be receded for learning and studying work, and/or the introduction of people who have been successful in careers, to provide motivational talks, therefore acting as a positive influence on youths. This will help them to obtain a suitable occupation in any time of adult life. Supposed religious education in schools gives students no freedom of thought, spiritual confinement, and may allow them to not stay focused on their schoolwork. Due to the colonial past of the country, the preservation of indigenous African beliefs that came with the millions of blacks that were detained from the African continent, are overshadowed by these European origin beliefs which are currently indoctrinated in public schools. This will corrupt the souls of the younger generation leaving them in ambivalence or racial and ethnical unconsciousness. Traditions are not worth preserving unless it poses a positive effect on people. And has people we should strive to make the world a better place to live, even if it means abandoning traditions.

Dear Board of Directors Essay

Upon implementing a Broad Differentiation strategy, Andrews Company desired to have highly demanded products in each of the market segments, hold the majority market share compared to our competitors and increase the value of our firm by the year 2021. We believed that this strategy could get us to that point and we have successfully done so. The start up of Andrews Company proved to be more difficult than anticipated due to high costs in marketing and R&D, investing in automation of sensors and due to our decision to take out most of our loans in the early stages of our product, leading to negative profits for the first two years. However, Broad Differentiation lucratively brought Andrews market share up to 30.93% outweighing the competition (Exhibit 1). Andrews Company will continue to implement this strategy with the goal to hold high demand, continue cutting costs with total quality management initiatives and by reevaluating our capacity and production issues, which will be discussed throughout the course of our analysis. Research and Development Proper allocation of funds towards research and development proved to be of high importance, allowing customers to have access to better-quality products. Andrews Company effectively adjusted each product to their proper ideal spot on the perceptual map by using the segment centers and ideal spot offsets annually. This allowed Andrews to gain optimal market demand, leading to us being able to charge a higher price than competitors later on, thus obtain higher profit among other initiatives. Our high demand was essential in offsetting the costs associated with investing in marketing and promotional budgets, buy/sell capacity and automation of products. Marketing By investing insistently in promo and sales in all the market segments, we were able to increase accessibility and market demand. It was Andrews’s goal to have our products be in the minds of customers of all types and charge a premium for our excellent designs. Another advantage Andrews had over our competitors was that we forecasted at our potential market share, rather than our actual, based on the presumption our customers will be loyal to our brand and we would continue to invest in marketing expenditures. Once we feel comfortable that we hold enough market share, we can then start to cut costs in this department. Finances Monitoring spending and Andrews finances was perhaps the most vital part of our success. In the earlier years of our company we took out large quantities of long-term debt to help finance investment in automation and lowering the cost of producing sensors. Each year Andrews experienced a steep increase in sales, while variable costs gradually increased (Exhibit 2). The extra debt we took out early on we believe to have assisted with the dramatic increase in profits each year (Exhibit 3). One thing Andrews could have done to also assist with the increase in profits was to issue stock, which would have helped raise more capital to invest in capacity capabilities. However, we felt that issuing stock would have diluted the price. We successfully raised our stock price to $281.95 by the end of 2021 (Exhibit 4). A 723% increase from the start of 2014. Production A barrier for further success of Andrews Company was production versus capacity. While production was upwards of 18,000+, capacity only resulted in roughly 11,000. Each year we gradually invested more and more in automation and capacity due to our rising profits, which allowed us to improve our margins (Exhibit 5). We should have properly invested in capacity in the earlier rounds to help bridge the gap between capacity and production. However, Andrews’s strategy was to focus on correctly adjusting our products on the perceptual map to their ideal spots and we planned to never invest so much so that this could not happen. TQM and Human Resources In 2017, Andrews met labor demands and we paid our employees a higher rate than competitors. This tactic was able to put some of the other employees in competitive firms to go on strike for several days, resulting in a higher market share and a better reputation among customers and potential employees. Andrews also spent money each year on training employees for a maximum of 80 hour and recruiting spend of about $4.5 million each year, increasing our productivity index to 129.9% by the end of 2021. At the beginning of 2016, Andrews made an executive decision to invest in total quality management. Of a budget of $4 million, we allotted $1.5 million in 2016 and 2017, then another $600 thousand in 2018. After this amount was spent, we would have seen diminishing returns and opted to cap out at $3.6 million. The substantial investment allowed us to reduce labor and material costs, while increasing demand, thus allowing us to steadily increase profits each year, especially during this three-year span when competitors did not spend enough in TQM. The Future of Andrews Andrews Company will continue to use its method of broad differentiation in the upcoming years and plans to issue stock in order to help with investing in capacity issues that we’ve had in the past. We will continue to spend on marketing, research and development and compensating our employees adequately in order to keep our high market share. Distinguishing our products will continue to be of the utmost importance, offering clientele a superior design. Appendix

Movies in american culture

â€Å"Sweet Home Alabama† is a movie about Melanie Smooter played by Reese Witherspoon who is engaged to Andrew Hennings played by Patrick Dempsey and was out to go back to her hometown to divorce with her husband Jake Perry played by Josh Lucas. Melanie is a fashion designer who is with Patrick, a son of the mayor in New York. When Patrick asked Melanie to marry her, Melanie decided to go back to her hometown in Alabama to divorce with her husband Jake. Jake didn’t give her what she wants and so she was trap for a wile in the town so as to insist Jake to finally sign the paper of divorce. The story started on a beach with two kids, a boy and a girl. That was Melanie and Jake running on the beach while it’s raining. Jake tells Melanie that he wanted to marry her and Melanie asked why. From that flashback scene comes the present time with Melanie being engaged with her boyfriend and about to face her past with Jake.   It wasn’t easy for Melanie to convince Jake to sign the divorce paper. During her stay in Alabama, she had the chance to visit her family. Melanie soon realizes that a part of her was still on that place. And even if she tries to go on with her new life, there is unfinished business that she needs to settle. Going back to her hometown seems to be an awkward situation for Melanie, especially when she joins her high school friends and reminisced about their old days. Those scenes will provide the viewers a wide understanding of the movie and how the sequence relates to another one. There were less flashbacks but the film provides scenes that will give better understanding to the past where it is important to show how things  happened after Melanie left Jake in Alabama and went to New York. As the film progresses, it clearly showed how a scene is related to another and its viewers will get to understand and appreciate the film more so. The film relates to us a story of a girl who found her new life outside her old hometown and forgets that she is still in that hometown whether she likes it or not. Melanie thinks she got everything she wished for but she didn’t realized that what he left in that hometown will give her more than what she needs in life. Jake on the other hand still loves Melanie and is man enough to accept that Melanie wanted to call everything quits. Jake strived hard to make a good living and Melanie didn’t realize that. A true love story that is romantic on its own, comedy and light.   â€Å"Sweet Home Alabama† is a film that will teach us to appreciate what we had and to learn that it wont hurt us to look back on out past once in a while. Personally, I liked the movie because of its simple and natural attack to its viewers. It will make you relate yourself to the characters of the film and will make you think of a possible situation in your own life. The film thought me that no matter how decided we are on one thing that we thought could make us happy, there is a thing that lies around us that will make us realized how important it is to our life. Regardless of the fact that Melanie has already found her new life and love, she didn’t realize that she left something more valuable and important than any other things in her life and that is Jake. The film also showed us that there are mistakes that could be done right and that no matter how painful your past is, you will never erase the fact that it will always be a part  of whom you are and what you have become. Nonetheless, the film provides us the understanding of how life gives us challenges that we can surpass. That sometimes even if we get out of the life we have and create a new one with others, we will still feel the need to go back to our old life and make it right. The film is beautifully made that is why I recommend this movie to be watched by other people. It showed the very meaning of love and it addresses to its viewer how love is sweeter the second time around. The film should be watched by young adults and as well as by the not so young and old people who is fond of romantic and comedy film. The characters of the film will surely make an impact to the life of its viewer and it will teach a good lesson in life. Indeed, the film gives us the chance to see a good story comes with a good cast of actors with remarkable acting skills. â€Å"Sweet Home Alabama† is a movie that I will not get tired of watching over and over again. It is a movie that will make you smile in the beginning from end. It is a movie with a taste of love, life and second chances put into one masterpiece that will satisfy its viewer to the end. Definitely, â€Å"Sweet Home Alabama† is a great movie to watch with your friends and/or special someone. Keep in mind to just enjoy watching the movie and try to create a story in your mind same as the movie for you to be able to relate your self more to the movie. But the movie is very easy to understand, you just need to take a good look of it and listen to the lines very well. Nevertheless, it is a movie that will share a wonderful life of success, share of pain and a happy ending that will make it even better for you to watch it again. References Sweet Home Alabama (2002). The Internet Movie Database. Retrieved November 26, 2007, from http://www.imdb.com. Sweet Home Alabama Facts.   Movies.Com. Retrieved November 26, 2007, from http://movies.go.com         

IBM Management Case Study Example | Topics and Well Written Essays - 750 words - 36

IBM Management - Case Study Example As the paper highlights, employees in an organization do not want to do away with their culture and values. This paper discusses the human resource challenges that the wandering tribe poses to IBM and the possible reactions of employees to the system. One of the major human resource challenges is for the IBM is to accommodate the varied labor force by meeting their varying needs and cultures. Some of the challenges IBM faces include different countries’ legislations, the firm’s global culture, and obsolescing skills due to swift changes in technology. IBM operates in different countries globally (IBM). As such, it has to abide to the unique laws and regulations of each of the countries as well as ensure that employees in all the countries comply to set regulations. IBM has to train its workforce to ensure that they swiftly adapt to any technological advances. This would ensure employees’ skills do not become obsolete. Additionally, IBM faces internal challenge within the organization. The Organization does not have a physical space where it can control workers since it uses telecommuting concepts in its operations. Even though IBM saves $ 12 million annually in physical space cost (IBM), sustaining the organi zation’s values and culture is a major challenge due to the diverse labor force that is dispersed all over the world. Since employees can work from their homes, direct control is a major issue due to the difficulties of monitoring the activities of the workers. Additionally, motivation of employees can also become problematic. Employees will always react to an organization’s structure and policy as any changes within the working environment directly affects them. IBM employees may feel that the organization’s wandering tribe is suitable and beneficial for them while others may find the wandering tribe unsuitable.

Gender Discriminations Essay Example | Topics and Well Written Essays - 750 words

Gender Discriminations - Essay Example rough the following instances: gender wage differential; sexual harassment; experiencing barriers to promotion and recruitment because of their gender; and hostile workplace conditions (Dilts and Samavati 209). This paper argues that sex-based workplace discrimination remains pervasive in the U.S. and that employers should follow laws that strive to eradicate it, as well as include additional measures that can avoid gender discrimination. Sex-based discrimination occurs through the existence of gender gap differentials. Kongar studied the role of sectoral and occupational changes in altering the composition of the American workforce and reducing the gender wage gap from 1990 to 2011. Findings showed that the gender wage gap within services broadened, even with reduced occupational gender segregation in the 1990s. Kongar talks about the paradox that though more women entered male-dominated industries with higher pay, the gender wage gap remains wide. Furthermore, she notices that the wage premium related to male-dominated occupations increased also. One of the interpretations of her findings is the devaluation of work, as more women entered these occupations (Kongar 86). In other words, the entry of women in these male-dominated industries decreased the wage premium for both men and women alike (Kongar 86). Throughout time, occupational segregation shifted too, and jobs that became more male-intensive enjoyed higher w age premiums (Kongar 86). This finding matched those from the 2001 United States General Accounting Office (US GAO) survey, which reports that the gender salary gap among full-time managers intensified between 1995 and 2000 (19 qtd. in Kongar 86). Miller studied whether the gender pay gap in the U.S. is different across the wages distribution, and whether this disparity differs between the public and private sectors. Findings showed that female workers are paid lower hourly rates than men, regardless of sectoral differences; gender wage gap is larger

Genocide and Humanitarian Intervention Research Paper - 1

Genocide and Humanitarian Intervention - Research Paper Example Despite optimistic dreams, harmony was shattered in the early 1990s with the explosion of ethnic conflict and humanitarian tragedies on the grandest scale.   While ethnic conflict and humanitarian crises have existed since the dawn of time, for the first time ever images of extreme bloodshed, violence, and even genocide were broadcast into the millions of people around the world, from New York to New Delhi and from London to Lagos. Images of children being slaughtered, women being raped and people brutalized were beamed into the living rooms of concerned citizens all over the world, for all to see. For the first time, the public was confronted, on a near daily basis, with images of mass carnage, violence, and humanitarian crisis. People pressed their congressmen, parliamentarians and state representatives to act and, in varying degrees, a groundswell calling for a decisive role for governments in ending these humanitarian crises and conflicts emerged. Although some wanted direct military action, often French, British or American, in ending a particular conflict, most governments have traditionally favored other instruments of diplomacy: p olitical pressure, economic sanctions and imposed a settlement through international bodies such as the United Nations. As Carleton, & Stohl have emphatically demonstrated, a foreign policy rhetoric may be politically salient but not always political possible.  The purpose of this report is to provide an analysis of the human rights issue of genocide and humanitarian intervention.   With the aim of providing a thorough and concise overview of an incredibly timely issue, the following will explore arguments by two major scholars in the field regarding this important human rights issue.  

MBA Business and Economic Evironment Essay Example | Topics and Well Written Essays - 1000 words

MBA Business and Economic Evironment - Essay Example As the interest rates change, so do the spending and saving patterns of the people. When interest rates increase the cost of borrowing money increases and hence people borrow lesser where as when there is a decrease in interest rates people are more inclined to borrowing money because the cost of borrowing is lower. This affects the aggregate demand and aggregate supply of a country because money is the basis of all transactions that take place in an economy and if the cost of borrowing money decreases the money demand in the economy would tend to increase and people will be more inclined to spend that money and hence the aggregate demand would increase and this would lead to more people being employed if the economy is not already operating at optimum level of productivity. On the other if interest rates tend to increase then the cost of borrowing increases and people are not willing to borrow, hence the aggregate demand for the economy would decrease and the would have adverse effe cts on the labor as well. An increase in the interest rates in Australia would definitely have the same effects as well and a decrease in aggregate demand is expected. Industrial point of View: If the interest rates are increasing the cost of borrowing for industries would go sky high because industrialists require huge sums of loans because of the industry and the operations that they need to carry out. A very important decision for the firms is based on the interest rates and their trends, the question is: to expand or not to expand The answer lies with the interest rates, if they are very high then the company might postpone their expansionary plans but if they are lower and within a safe limit then the company can go and expand. This applies to whole industries, if industries expand there would be much more labor required and there would be an increase in employment leading to an increase in aggregate demand. Hence if any government is looking to give a boost to its industrial set up it should take special care when dealing with interest rates because it might charter the course of a whole industry and any industry is important to the economy because it has a lot of oth er units such as labor and exports dependent upon such industries, though some governments have come up with industrial interest rates but still they serve the same function. Exchange Rates: The exchange rates of a country play an integral part in determining where the country is heading in the near future and also has far reaching consequences in policy making. Interest rates play a very important role in determining what a country's exchange rates would be, in fact they are also a tool to tamper with the exchange rates. If the interest rates are increasing in an economy, ceteris paribus, then there would be an inflow of foreign currency into that country because people would want to save their money in that country's banks because that would give them a higher return on their investments, when this takes place the demand for a country's currency on the foreign exchange market increases. On the other hand if the interest rat

Land Law Case Study Example | Topics and Well Written Essays - 1500 words

Land Law - Case Study Example If it is not registered (as some purchases before that date will not be), the legal owners will be listed on the document called the conveyance, which passes the property from one owner to another" (Joint Ownership of Property. 2008). However, the real value of the property lies in the second type of ownership, i.e. equitable or beneficial ownership as this ownership ensures the right to "the right to live in and use the property, and the right to share in the proceeds of any sale." Also, the equitable owner also can control a legal owner and decide on the sale of the property. As an immediate result of this factor, the buyer of the property will suffer much generally because it is normally difficult for the buyer to realise the existence of an equitable owner form the usual searches of the land or enquiries of the seller. As a result, the buyer will be bound to allow the beneficial owner after the business is over. (Joint Ownership of Property. 2008). It is also necessary that in the case of the legal and the beneficial owners of a property are different there arises a situation called trust, an arrangement formulated by a deed or written agreement. In the present case given for discussion, the two sisters Jennifer and her sister Clarissa conveyed the property as beneficial joint tenants. Thus, it is pertinent to have an idea of how such a property can be held in beneficial joint tenants which is one of the two ways of joint property, the other being the beneficial tenants in common. In the case of beneficial joint tenants, the joint owners are equally entitled to the property by which both share the rights to enjoy the benefits of the property together. Thus, the two sisters enjoy the unregistered country cottage property in Maple Leaf jointly. And, as it is evident, they do not enjoy separate shares but own the whole thing in common to each other and neither Jennifer nor Clarissa could enjoy separate share which each could sell or leave in a will. As it is clear in the case, Jennifer applies for the permission for the sale of her property, but immediately breaths her last. At her death, her application for the sale of propert y cannot succeed as in the case where "one person dies then the survivor becomes the owner of the whole property. This happens automatically without any further formality" (Joint Ownership - the methods). Also, let this be clear that Jennifer's case, at her death, in application for the sale of property cannot succeed as the law entails the person left the absolute ownership of the property. "If there is only one joint tenant left, he or she becomes outright owner of the property. Because no joint owner has a defined share, their interest in the property does not become part of their estate when they die, but simply disappears" (Joint Ownership of Property. 2008). However, we need to consider whether the particular case of Jennifer would succeed at the time of her application for sale of the property. The specifications of the case are that the property was an unregistered one conveyed to the sisters as beneficial joint tenants; the share of Jennifer in the deal was 160,000 of the total 280,000; and the children of Clarissa had Attention Hyperactivity Deficit

Contemporary Middle East History Essay Example | Topics and Well Written Essays - 6250 words

Contemporary Middle East History - Essay Example While not completely Western but also combined with Islamic ideals, the Ottoman Empire presented different challenges for the Middle East than the British and French Empires. The Ottomans demonstrated a semi-Islamic influence in the region. This means that while initially embracing some Islamic ideals, the Ottomans later rejected others and according to Islamic perceptions in the Middle East, the Ottomans while at first more favorable than the British and French Empires were eventually seen as un-Islamic (Gelvin 2005; Khatar, 2004). While many in the region may blame so-called imperialists - (whether they be Ottomans, British-French or American) - for the conditions in the region, the failure of nationalist successive governments to take control of their own destiny is an inherent problem in the Middle East and until today needs to be adequately addressed and confronted (Huntington, 1996). As Huntington (1996) notes 'Western style democracy' in the Middle East has served to increase anti-Western political forces. The history of how and why this rage against Western style democracy can be seen in the social, political, technological and economic forces that have been imposed upon the Middle East via successive colonial administrations. The Ottoman Empire under the absolute rule of Sultan Seleyman had the responsibility of guaranteeing complete justice or adala among the governed. This idea has both Islamic and Turco-Persian aspects. Borrowing from Hebraic traditions, the idea of distributive justice is modeled after King Solomon in the Old Testament who according to Islamic political theory was a considered a seminal figure in distributive justice. This idea encapsulates the Western notion of justice hence the Western portion of political rule during the Ottoman Empire that regarding fairness and equity. Additionally and importantly, the Islamic portion of justice was that notion it be inclusive for all including the lowest individuals in the power structure. As stated within the Koran Allah admonishes the followers of Islam to act equitably "you who believe! Be upright for Allah, bearers of witness with justice, and let not hatred of a people incite you not to act equitably; act equitably, that is nearer to piety , and he careful of (your duty to) Allah; surely Allah is Aware of what you do" (The Dinner Table, 5.8). In terms of economic and social life the Ottoman Empire attempted to include all members of the Empire no matter how powerless. Although seemingly removed ideologically from the society the Ottoman Sultan followed a set of siyasa laws, which included the severe punishment of government officials if they were believed to have abused their powers. Such abuses included illegally taxing or forcing the labor of peasants, forcibly requiring them to give food to soldiers or forcibly staying in their homes (Khatar, 2004; Gelvin, 2005). The punishment for these crimes usually included the death penalty. In terms of social structure and relations, the Ottoman Empire can be considered one of the first to quantify public opinion and therefore demonstrates how public opinion was considered very important in legitimating the power of the Sultan. If the Sultan did not have favorable public opinion and more negative public opinion cultivated by its adversaries then the Sultan would be sure to fall. In order to cultivate and maintain positive favor among the public in support of the Sultan

Torts Of Negligence Essay Example for Free

Torts Of Negligence Essay Torts of negligence are breaches of duty that results to injury to another person to whom the duty breached is owed. Like all other torts, the requirements for this are duty, breach of duty by the defendant, causation and injury. However, this form of tort differs from intentional tort as regards the manner the duty is breached. In torts of negligence, duties are breached by negligence and not by intent. Negligence is conduct that falls below the standard of care established by law for the protection of others against unreasonable risk of harm. The standard measure of negligence is the omnipresent reasonable person standard. The assumption in this case is that a reasonable person is never negligent, thus the degree of care required is that of a reasonable person.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The creation of tort of negligence is a very important tool by which gaps in the law is filled. Often, actions require that some wrongful intent be present in the mind of the actor. However, intent is a difficult thing to prove. Moreover, there are cases where injuries arise without intent to cause them, but which necessitates compensation or correction by the person causing the injury, albeit negligently based on justice and equity. The vast coverage and minimum requirement of negligent torts give persons injured by these kinds of acts a definite remedy in law. However, important and useful as it is, the question arises as to whether the state should really punish negligence. It is easy to know why intentional acts should be punished. The deliberateness of the act shows the degree of moral corruption or perversity of the actor. However, negligent acts are just a degree higher than accident. Like accidents, simple negligence is sometimes unavoidable. Everyone is bound to be negligent once and while. The only difference is that some negligent acts are lucky enough not to result to injury. To punish each and every negligent act that results to injury is to reward those who are lucky enough for their negligent acts not to result to injury.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   It becomes more problematic when a person considers liability imposed on persons other than those who committed the breach. An example of this the strict liability tort wherein a person is made liable even if he is without fault. This strict liability often exist in inherently dangerous activities or activities vested with public interest such as products liability, explosives and keeping of dangerous animals. Another is as regards persons who are made liable for the negligent acts of incapacitated persons under their care such as guardians and parents. They have not done anything to injure others and most of the things for which they are made liable happen beyond their control, but the state makes them liable for the damages caused because no one else may be made liable.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The law justifies all these through the word responsibility. Everyone has a responsibility for their actions. Everyone has a duty to avoid injuring others. This is the other side of the ethical dilemma. If the actor who committed the breach may find it unfair to find himself liable for the damage caused by a minor negligence, the party injured may also find it unfair to find himself burdened by the damage caused to him by the party who caused the breach. I believe what occurred is just a weighing down the scale of justice. It was a choice of which is more unfair. To burden the negligent party or to burden the innocent party who is damaged.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This same word, responsibility, is also used to justify strict and vicarious liability. Parents, guardians, employers and other similar persons are responsible for their wards and employees. I think this is also a balancing of the scale. Due to circumstances such as incapacity in law of inability to pay, the injured party may be again left with the burden of his own injury. Again, the law finds it less unfair to make people who are charged with responsibility and are thus deemed to be in a position of relative control, by which they can avoid damage, liable for the injuries that may result from the negligent acts.

Are Capital Asset Pricing Model Useful Finance Essay

Are Capital Asset Pricing Model Useful Finance Essay The CAPM model has generally been attributed to William Sharpe, but John Lintner and Jan Mossin also made similar individual derivations in 1960s. As a result of the model is even known as Sharpe-Lintner-Mossin (SLM) capital asset pricing model. The CAPM explains the relationship that should exist between the securities expected return and their risk about security returns. It is a direct extension of the portfolio models developed by Markowitz and Sharpe. CAPM derives the relationship between required rate of returns and the systematic risk of individual securities and portfolios. The model explains how different securities or assets in the capital market are priced. The CAPM provides an explicit measure of the risk premium. The CAPM can be expressed as follows: The portfolio that contains all the securities in the economy is called the market portfolio and it plays a crucial role in CAPM. The CAPM is the theoretical relationship that should hold for all securities and portfolios, both efficient and inefficient. The CAPM when plotted on a graph gives a line as depicted: The graphical version of CAPM is also known as Security market line (SML). The SML represents the relationship between beta factor and the expected rate of return f a security. This is also called risk-free rate. In equilibrium, all securities and portfolios plots should lie on the CAPM line. Capital asset pricing model has the following implications: Risk-return relationship for individual asset/securities. Identification of under and overvalued assets traded. Pricing of assets which have not yet traded in the market. Effect of leverage on cost of equity (rate of return required by equity shareholder) Capital budget decisions and cost of capital. (Source: Capital asset pricing model; Portfolio management from ICFAI publication page no.91) The CAPM has a variety of applications. Capital asset pricing model used for decisions relating to portfolio evaluation, capital expenditure, financing etc. The CAPM determines the cost of capital for discounting of future cash flows. CAPM is even assist in risk implications of mergers and acquisitions, product mixes and many more. CAPM has been the most widely used method in finance. Since the 1990s the CAPM has been started to be used in the calculation of risk-adjusted discount rate which has been a major contribution for capital budgeting. Capital budgeting is a key input for any organization so as to know the cost of capital for which companies use CAPM as they need market risk premium for calculating cost of capital. At present all MBA courses teach CAPM so as to calculate cost of capital. However the classic method for capital budgeting is to take Net Present Value (NPV). (Source: Bierman, H.J., 1993, Capital Budgeting:A Survey, Financial Management 22, 24) Investors should be cautious when applying the model to estimate assets returns and to evaluate investment performance. Empirical appraisal of CAPM The CAPM was developed on the basis of a set of unrealistic assumptions as the assumptions are not correct in their entirety. The CAPM must be tested empirically and validated before it can be used with any real confidence. The empirical test should look for the key results first, the positive relationship between returns and systematic risk and should appear to be linear. Second, test should attempt to assess the importance of market and company specific risk. Third, whether research questions on CAPM is conceptually possible. AT last CAPM if valid will assist in financial decisions. However, when analysis of bond is done, they do not plot on the SML. (Source: 80 International Research Journal of Finance and Economics Issue 4 (2006))Empirical analysis is done to evaluate the assets, their risk, analyze and to be placed in respective place. Then only hurdle rates can be calculated for the project to be undertaken. (Jagannathan and McGrattan [1995]. Limitations of CAPM CAPM is a useful model in dealing with the risk. However, it suffers from many Limitations firstly; the calculation of beta factor is very tedious as lot of data is required. The beta factor can be found by examining the securitys historical returns relative to the return of the market portfolio. Further, the beta factor may or may not reflect the future variability of returns. The assumptions of CAPM are hypothetical and are impractical. For example, the assumption of borrowed and lending at the same rate is imaginary and not practical. In practice the borrowing rates are higher than the lending rates. Secondly the earlier tests showed positive relation between returns and betas. However, the relationship was not strong as predicted by CAPM. All empirical studies testing CAPM have a conceptual problem. CAPM is an ex-ante model; that is data on expected prices are taken to test CAPM. Unfortunately, in practice the researchers or analyst have to work with the actual past (ex-post) dat a which will put up bias in the empirical results. (Source: capital asset pricing model www.ezinearticles.com)Third; beta is used as a measure for the securitys future risk. However there is no future data or information is available with the investors to calculate the beta. Hence, these investors take the help of past data to estimate the future prices of shares and the market portfolio. Thus, investors estimate beta using the historical data. One cannot expect the beta factor to be constant over time. It must be updated frequently. And at the same time CAPM is unable to capture the risk just only with the help of beta. (Source: capital-asset-pricing-model, www. professional-edu.blogspot.com)Fourth; CAPM assumes that the returns on the investments are tax free. However in todays life the assumption is wrong as investments are subject to capital gain taxes and further adding transaction costs. And the taxes depends on the amount of return higher the return higher the tax and lower t he return and lower the tax. Fifth; The CAPM has the assumption that the transaction costs are zero but it is not as such. In the capital market there is transaction cost for every transaction done, some investments hover below or above line which is discouraged due the transaction costs. And many investments involve significant transaction costs such as acquiring a business or real estate. (Stambaugh, R. F. 1999. Predictive regressions. Journal of Financial Economics 54) Doubt began to arise when taking a close look at the assumptions and these are reinforced by the empirical tests. The model focuses on market rather than total risk is clearly a useful way of thinking about the riskiness of assets in general. We do not know precisely how t measure any of the inputs required to implement the CAPM. This input should be ex ante but we only have ex post info available. The estimates used in the CAPM are subject to large errors. Debate The CAPM has been attractive in measuring the risk and return relation since three decades. With the help of CAPM the rate of return on different securities can be compared by the investor. With the comparison of expected rate of return on different securities investors/firms can wisely decide to invest in portfolio so as to maximize the return with minimizing the risk. (Source: CAPM from Book Financial Management by I M Pandey. But unfortunately, the empirical record is too poor to validate the way it to be used. The models problems may be due to theoretical failing or the unrealistic assumptions and the difficulties faces in applying the valid model. The model has been 1959 and since decades concerns have been raised on the number of studies about the model. There has been no historical relationship between returns and the risk i.e. the betas. (Source: Fama and French 1992) The conclusion interpreted from the statistical findings. The data are noisy to invalidate the CAPM. (Source: Christensen and Mendelson [1992] and Black [1993]. Despite criticisms, the general reaction has been to focus on alternative asset pricing models. (Fama and French [1992]. The economist show lack of empirical support for the CAPM which may be due to inappropriateness of assumptions made to facilitate the empirical test. For example, the return on stock market indices is good proxy for return on market portfolio but do not capture all assets in the economy such as human capital. Beta calculated for diversified portfolios are more accurate than that of the individual securities as grouping shrink beta range and hence reduces statistical power. To improve the empirical testing of CAPM numerous changes had been done in the past overcome the limitations or even to look for the subsequent alternate model to validate. At the same time the researchers and practitioners have began to look for multi-beta models that overcome the shortcomings of the CAPM. Fama and French (1992) and Fama and MacBeth (1973) use the same procedure but the results are totally different from each other. The former has no relation at one hand and the later has a positive relation between return and risk. Everyone is in a debate of whether to follow CAPM model or not? Where the companies even use CAPM for their capital budgeting process. But still some academic feels that those who choose the CAPM will actually not be getting worthless advice. (Source: Eugene F. Fama and Kenneth R. French, Journal of Finance, Vol. 47, 1992, 427-465)The model is often used for looking the performance of mutual funds and other portfolios. One of the big problem is forming p ortfolio by sorting stocks on the basis of price ratios but the average returns do not relate to market betas. ((Lakonishok, Shleifer and Vishny, 1994, Fama and French, 1996, 1998).) At NYSE, NASDAQ from 1963 to 2003 the average return on the book to market equity ratio portfolio rises monotonically from 10.1% p.a. to 16.7% for ten portfolios in U.S. securities but the positive relation between beta and return predicted by the model was absent. Whereas all NYSE stocks between 1931-1965 estimated that the results were consistent with the CAPM model. (Black, Jensen and Scholes 1972) Conclusion CAPM has been facing a lot of criticism in the recent times still it remains a useful tool for many i.e. for estimating the cost of capital, investment performance evaluation and efficient market event studies (Moyer et al 2001:204; Campbell et al 1997:183). In some of the recent empirical studies CAPM is said to be invalid. The CAPM is stated in terms of ex ante parameters, ex post tests cannot be accepted as an ultimate rejection of the CAPM and its parameters (Levy 1997:147). The CAPM should be judged on the basis of insights it provides into the risk/return relationship. Without the CAPM, the knowledge of the capital market and the market conditions would have been very limited (Karnosky 1993:56). Every three out of four CFOs use CAPM model to estimate the cost of capital. (Source: Graham and Harvey (2001). Corporate managers in U.S. confirmed in a survey the use of CAPM as a key tool for capital budgeting. Current MBA aspirant are taught to use CAPM for estimating cost of capita l. The CAPM should be continued with both individual tests and multi-factor models joint tests such as APT. Such testing will help understanding of the stock market pricing mechanism and the risk/return relationship. The capital asset pricing model has been employed in a wide variety of academic and institutional applications such as measuring portfolio performance, testing of market efficiency, identifying under and overvalued securities, capital budgeting etc. Apart the model have also been used in business by analyst, researchers and firms. CAPM has been the basis for modern capital market theory since 30 years, but with the emergence of new equity markets around the world during the last few years, accumulating research has increasingly created doubt on the models ability due to many cases arising where the model is not able to explain the correct movement of assets return. Despite its limitations and shortcomings, the CAPM model is a popular tool in the investment analysis. The simplicity of the model towards description of the equilibrium has made it quite popular among the users even today. There are other factors i.e. taxes, inflation, liquidity, and market capitalization and price earnings ratios apart from beta which affect required returns What believed is CAPM have significantly contributed to the security pricing theory, but applied in practice has got some defects and for which an extended CAPM should be applied or have to look for a new better model which should not have any deficiencies. The CAPM model is f or sure here to stay and attempts will continue to improve the model and to make it more useful.

Analysing The Tourism Industry Of India

Analysing The Tourism Industry Of India Purpose The paper aims to provide a holistic perspective on various dimensions of the tourism industry in India. Design/methodology/approach The paper combines analysis of various documents as well as insights from researchers. The paper discusses problems of the tourism Industry, strengths of the industry, challenges faced by the industry in India and policy implications of the government. Findings The paper explains the economic importance of tourism Industry in India by outlining the strengths and challenges of the Indian tourism industry. The paper has implications for the government and Industry players in terms of investment in hospitality education and training, infrastructure and better employment practices. Practical implications The paper provides recommendations for some of the initiatives that government and industry players could adopt. Introduction Tourism industry of India is enjoying the growth period, driven by the Indian middle class, increase in tourists who are ready to spend more and the government campaigns to promote Indias Incredible India. The tourism industry in India is substantial and vibrant, and the country is fast becoming a major global destination. It is one of the most profitable industries of India which also contributes huge amount of foreign exchange. In 2006 the amount spent by the tourists in the country was US$ 8.9 billion. Disposable income in India has grown by 10.11% annually from 2001-2006, and most of it has been spent on travels as mentioned in Economy Watch. Foreign tourists spend more in India than almost any other country worldwide. The tourism industry has supported growth in other sectors like horticulture, handicrafts, agriculture, construction and poultry. There is a gap between the potential of the tourism industry and the success achieved till now. Through this study we would try to find out the steps which can be taken to curb the shortages faced by this industry. Industry Contribution Due to booming industries like IT and outsourcing industry, a growing number of business trips are made by foreigners to India, tourists spend more in India than almost any other country across the globe. The Tourism Ministry has also played an important role in the development of the industry; advertising campaigns such as the Incredible India campaigns have promoted Indias culture and have attracted tourists in a tremendous way. Increased tourism in India has created numerous jobs in a variety of related sectors both directly and indirectly. Almost 20 million people are now working in the Indias tourism industry. Indias governmental bodies have also made a considerable impact in tourism by making it mandatory that each and every state of India have to administer support issues related to tourism. A new growth sector is medical tourism. It is currently growing at around 30% per annum. Medical tourist arrivals are expected to reach one million soon. The tourism industry of India is b ased on certain core nationalistic ideals and standards which are: Swaagat or welcome, Sahyog or cooperation, Soochanaa or information, Sanrachanaa or infrastructure, Suvidha or facilitation, Safaai or cleanliness and Surakshaa or security as mentioned by World travel $ Tourism Council, India Initiative. The landscape of India is a natural attraction for tourists and a rich tapestry of cultural heritage is woven into a wide range of tourism products. Indian tourism demand is estimated to grow at 8.8 percent from 2004 to 2013, which would place India as the third-most rapidly growing tourism market in the world after Montenegro and China (HVS Hospitality Services, 2007). There is a phenomenal explosion of domestic tourism which is fueling the industrys revival. India has a wide population of educated, hospitable people who have the moral strength and desire to welcome tourists. The hospitality industry is also booming with an increasing number of hotels being opened in various regions across India. This will in turn help in job creation and in driving the economic growth. Major brands such Emaar Group, Kingdom Hotel Investments; and international fund companies such as Blackstone, Morgan Stanley and Merrill Lynch among others have solidified their interest in the Indian hotel sector. Specific, targeted efforts are being made to develop tourism in India in terms of media campaigns. For example, the Incredible India campaign has had a very strong impact on tourist arrivals. The Brand India message is being communicated globally and penetration is strengthened by reaching prospective visitors through electronic, print and internet media (Himani Kaul, 2009). Sporting events such as the Indian Premier League cricket tournament held in 2008 and the Commonwealth Games to be held in 2010 are also significant drivers for promoting destination India and fuelling tourist demand. Problems faced by the Industry Indias tourism industry has a labor shortage. There is not enough accommodation, rooms and dirty problem, food problem is to stop tourists who come to India. Many parts of the country have not been very good, in terms of appropriate road, rail and air connections. Excessive bureaucracy had delayed new hotel and transport projects. Tourists are often the economic exploitation, and criminal elements in India, Indian women and the elderly can secure access to visitors. Indias tourist attractions were also damaged pollution. Refinery smoke is harmful to the Taj Mahal, and coastal ecosystems, Rann Kutch and the Himalayas are contaminated blow. Delhi, Jaipur, Agra in northern India, transport and communications and Bhuwaneshwar Konark Puri Orissa industry better than other equally attractive destinations in India as per Norah Faith. These problems also shorten the tourist season in India, which then leads to unemployment in off-seasons. As per the Tenth Planning Commission Report on Tour ism; the major impediment to the growth of tourism has been the lack of awareness about the benefits it can bestow upon the host population. The Planning Commission Report has summarized the main factors that affect Indias tourism competitiveness: Lack of concern for competitiveness. Inadequate facilitation services infrastructure improvements at country entry Points and appropriate facilitation services are needed. Lack of quality infrastructure. Lack of emphasis on product quality. Lack of training at the cutting edge. Lack of hygiene. Low utilization of modern marketing and publicity tools. Insufficient involvement by the private sector in tourism development The author Mr. Jauhari talks about Hospitality industry and tourism in India: Hospitality industry is a major employer. The industry includes services such as tourism and food service sector. It was more than from peers, the industrys economic fluctuations. In the world economy the hospitality industry is a major sector. The industry consists of a service industry, including catering, tourism and hotel industry a wide range of varieties. Also includes support for the hotel industry such as airline cabin staff travel and travel agencies, application of information technology (IT) and hospitality and tourism workers in technology business. Hospitality industry is characterized by a large number of employees. Entry-level positions usually require no formal education (S.K.kuthiala) These articles majorly focus on: Infrastructure management: cooperation between different players such as hospitality businesses, infrastructure, state government, the ministry of tourism and environmental agencies. The budgetary allocation for tourism needs to be enhanced and real estate investments are required to upgrade facilities in order that tourists might experience a more consistent service product. Funding opportunities and escalating costs are other limitations. Workforce issues; in turn, this is impeding the professional development of hospitality and tourism as the industry is characterized by long working days and comparatively low levels of compensation. In view of the intense competition for skilled labor and the high rate of attrition at all levels the other key manpower issue relates to the relatively limited experience of and competency in project and construction management. The goal of sustainable tourism requires well coordinated human resource development (HRD) strategies aimed at tourism industry personnel and the host community in general (Srivastava, 2008). Education and training for the hospitality and tourism; an area for concern and discussion relates to the existing provision of hospitality education in India, and especially the curriculum and pedagogy where management preparation and training tend to be omitted. The marketing of hospitality firms; Online marketing has become an important medium for hospitality firms. India is currently behind the pace in this respect and web sites need to add this capability so that they can capitalize on the market opportunities that exist around the world. India lacks in Consumer advisory web sites Strategies adopted for growth and franchising; Destination management; The Indian Governments Incredible India promotional campaign has made a significant contribution to the overseas image of India in the past year and helped to create a positive perception of what India has to offer. However, much more needs to be accomplished in order to deliver on the potential that a tourism experience in India has to offer. Crisis management. This is extremely important dimension that all tourism and hospitality firms need to address. The range of threats to tourism is growing and the outcomes can, potentially have a devastating impact on Indias economy (Dirk Galesser). Recommendations Prioritize the investment in tourism and shorten the project start-up cycles. Establish a single point of access clearance system for new hotel/restaurant/tourism projects. Upgrade airports, water and sanitation facilities and the public transport system as soon as possible. Manage the work force issues by investing in hospitality education and benchmark the curriculum with the best in the world. Establish institutes which train the faculty on a year-round basis. Nurture the right competencies so that prospective employees can perform when hired. India really needs people with outstanding project management experience especially in the management of large chains. Create positive perceptions about the industry, offer competitive wages and invest in employee growth. Any short cuts would have a disastrous impact on hiring and retaining employees in the long run. Invest in the management of online tools for communication. As the internet becomes the main medium for accessing and retrieving information, an online presence needs to be managed so as to create desired business outcomes. This effort needs to be allied with appropriate search terms and links to the main search engines (Vinnie Jauhari) Develop international collaborations in order to learn as quickly as possible from international best practices. Invest in training so that the potential of Indias workforce can be realized. Check the indiscriminate growth of tourism; the local population must be convinced of the need to support regulations in the interest of long-term sustainability. Many of Indias hill resorts have suffered due to lack of concern for capacity management. Ease bureaucratic hurdles.( Shivangi Gupta) Methods Characteristics of tourism are: It is a constantly operating industry. It is affected by seasonal fluctuations. It is highly a Labor-intensive industry especially when it comes to India. Barriers to entry are not strong for this Industry. In India for this Industry Small businesses predominates. It is one industry which is a crucial medium for educational and cultural exchange across the globe. Consumer expenditure of domestic and international tourist is growing at a high rate. Few producers or service providers dominate in the Tourism Industry. Opening of New tourist attractions happens regularly. Mass tourists products have very little differentiation as the industry has not invested in this field up till now. The impacts of tourism are wide ranging reaching economic, social, environmental aspects. Two forms of tourism: International Tourism : Travel to countries outside home country Domestic Tourism: Travel within the country. Factors affecting tourism The tourism industry is complex. Many components of the tourism Industry are linked to the other economic sectors of the country. The resulting interaction of the movement of tourists from the origin to the destination and the drivers involved are available for our analysis: 1. Physical Environment Indian Tourism industry has also developed in a large variety of physical environments, with many of the different environments within India becoming favorable tourist destinations. These environments may include: Hill stations Beaches Deserts Countryside Holy places Historical monuments 2. Technological change. One of the most important variables affecting tourism is the technological changes. Twentieth century, transport technology destination on a large scale are preceded by mass tourism to feel free to spread, the manufacturers of rail or ship built continuous vehicle capabilities. Such developments influence reaches the places are in relation to social and financial reasons The development of large aircraft long-range aircraft Boeing 747, was that an important stimulus for the growth of tourism industry. 3. The biophysical and built environment A countrys bio-physical environment, heritage and artistic life, is an integral part of the tourism industry. Different types of tourism development have different requirements; some countries will support development more than other countries. The industry is eventually located according to the physical distribution of attractions and access to them, which is mainly determined by natural factors. Destination must provide the purpose and needs of tourists for which it is seeking. Tourist practices are influenced by environmental conditions, and restrictions on types of development can take place. Natural features are very desirable and should go together with the infrastructure and tourist attractions. Climate is an important consideration, and favorable weather conditions are crucial. For all tourist activities is an excellent weather, and climate often in a resort holiday season determines the length and profitability. 4. Economic factors Tourism is one of the most prominent global economic performance department. Tourism is the employment of the accommodation, catering, transport, entertainment and other services industries major source of important provisions. In addition, there is a huge production of indirect tourism activities. This is a promotion, because of its multiplier effect of a wide range of important means of economic growth. Tourism is Indias contribution to export earnings in large part on the Indian economy Changing economic conditions largely determine the scale of the tourism industry. With the development of changes in employment structure and a more affluent society, creating a higher level of tourism products. 5. Socio-culturalInfluences Participation in tourism is affected by demographic and social factors such as age, family life cycle, education, occupational structure, population concentration and quantity. Profound impact on demographic and social changes of the population indulge, in the future tourism will be seen. Increased life expectancy and changing composition of the workforce is also important. More and more women participation rate provides a boost tourism, because the two higher income household disposable income. There is also a dink for those who travel more frequently. 6. Political influences Governments at all levels and all parties acknowledge that although tourism is basically a private sector, the impact of the need for government involvement. Government has a profound impact on the economic environment in which the tour operators. The Governments main role is to promote the prosperity of the industry and the most extensive economic, social and environmental objectives consistent with the development. 7. Cultural influences Historical or cultural value is characterized by strong tourist attractions. Three Seductive cultural forms: cultural forms, because it is inanimate monuments cultural forms is reflected in the daily life of a destination Especially in the cultural forms, can it be animated, such as festivals. Tourism is often accompanied by cultural exchange and cultural richness. These contacts can have harmful effects be in the local culture and traditional way of life if they are weakened or destroyed. The relationship between production and consumption Tourism as a production consists of three main components: Tourist country of origin; destinations and travel routes between locations. 1. Tourism generating areas Visitors second homes in other words. Which represent the worlds major markets and tourism market is the main feature found here. 2. Tourism destination areas Attract tourists and what is not available at home. Transport lines connecting the two areas of production, is the key factor. Production activities they are the most important part of traffic. Them as visitors acquire the experience from many different places. These activities are very interdependent. The changing nature of the production process The tourism industry throughout the twentieth century is closely related to rising living standards in developed countries. Half of the twentieth century, largely in the opportunity to travel to the privilege of the rich society, but the following World War II period of rapid growth has enabled more people to travel. In the automotive and aircraft become the main means of transport. A number of important changes are related to the development of the industry International Travel Tourism has become globalized. Global transport infrastructure around the world is rapidly becoming the way of all interrelated. Degree of globalization has also increased more countries to participate in international travel. Organizational Development Tourism organizations from two sources: the government and the private sector. Recognizing the contribution of the tourism industry, the countrys economic and social benefits derived out of it, to almost all government organizations, tourism should be promote. Their responsibilities are of different degrees. Opportunities in tourism, there is caused by large and small scale mixing of all the travel needs of food service from origin to destination. Production activities with other tourism enterprises participate in the emergence of significant growth. Most of the big travel company growth from the market and many tourist destinations and a greater market share and economies of scale drive very competitive nature. Social impact of tourism Tourism is a personal decision by the consumer. Tour Price for the whole package tours, it is usually cheaper to import a larger market holiday. Consumers have a choice variety. Small group travel Small group travel is a popular choice. They use local resources and services as possible. Personal travel Many tourists are actively planning their travel experiences. They like to personalize their trip, and not locked into a tour group. Experienced travelers are seeking to achieve specific wishes. This reflects the visitors experience new and different aspirations. Demands of professional productive activities have been seen as a response to the tourism industry. Economic impact of tourism: Increase the scale of production The profit motive to encourage the development of large scale operations and the size of companies involved in the increase. Increasing size is especially evident in the lodging industry. The action in the hotel industry continued to expand. The large chain hotels can take advantage of economies of scale; small independent can compete on the basis of cost, personalized service. Horizontal and vertical integration Increase in the production and concentration of ownership and control of the growth in size, usually comes through the horizontal and vertical integration. A business may seek to expand or develop its own or combined with other enterprises. Transnational Management Integration continues to act in the tourism point of a multinational or transnational in nature. Multi-country development model is different. Clearly, the global market to provide greater market potential and opportunities, gain competitive advantage. Company wants to diversify its investment portfolio will expand overseas activities. The impact of tourism technology Tourism received a lot of research funds to promote development of new technologies. They changed this productive every field of activity. Consumer choice Tourism motivation and decision-making are increasingly shaped by changing technology. The Internet has allowed a lot of information has become available to tourists. Hotel facilities, reservations, attractions and more like these. Transportation Technology Aircraft The aircraft will benefit the future development of larger capacity aircraft, but still subsonic. Generating capacity in order to promote aviation aircraft and speed increase. Therefore, the new aircraft cannot travel faster than any existing, but they will have a greater range and more seats to reduce travel costs. Land transport Transport is now faster and better competitive long-distance travel. This is the development of infrastructure to work together. Maritime transport Particularly there is a fast growth in the cruise industry. In 20th century Cruise fleet has doubled in the last decade. Keep track of personnel and property Computerization allows operators to operate more efficiently and produce marketing plan activities that can be used to the wealth of data. Global satellite network to provide as a new powerful marketing tool. Technology has changed the allocation process. The political impact of tourism Most governments are now actively seeking to promote tourism, and in their own countries, to take measures to coordinate public and private tourism activities to promote development of the industry. In some parts of the developed world, Government support has been less impending. In many developing countries, tourism is considered to accelerate economic development. Some Governments have also encouraged the development of international tourism, and promote their own political goals. The nature of government involvement: Tourism Promotion The Governments main contribution is both to promote tourism, and in their own country. The most direct way is to establish Tourism Organization, the impact of tourism development. Ministry of Tourism Australia, the implementation of this role, its objectives include: To provide a future development of the industry, the Governments clear statement To strengthen the economic, environmental and cultural awareness of the importance of tourism. Facilitate the entry of visitors Easy to enter a country is a key factor to attract tourists. If the entry procedures for tourists are going to be complex, tourism will be affected. Now some countries with visa-free access in some countries Transport Policy Availability, price and ease of transport within and between countries dominate the visitors flow. Distribution of the traffic dispersion in terms of tourists is important. Governments are generally used for transportation infrastructure and equipment available. Many airlines have entered the Union, to enable them to reduce costs and increase capacity. Under pressure Government have to further do the liberalization of the international airlines. General economic policy The Government policies affect the industry directly and indirectly. For example, when the Government policies and regulations and high inflation would reduce spending, thus limiting the disposable income of the tourism industries. Government revenue, chares levies additional cost to the tourists. Environmental and social impacts of tourism Two major problems threaten the long-term survival of the tourism industry: environmental degradation, and adverse social impact, which is often accompanied by the development of tourism. Tourism and the environment Tourism development is often near the biophysical environment where attractive or unique features. Tourism development often has a heavy pressure on natural resources. The greatest threat is to those who are most vulnerable to natural and man-made pressures. Tourism can help: The deterioration of air and water supply Destruction of natural landscapes Destruction of vegetation Threats to wildlife The challenge is to develop a procedure to assess the potential environmental impacts of tourism development. Other mechanisms can be used to solve the impact of tourism regulations, the establishment of national parks, protection of significant heritage management and legislation to help protect our cultural and natural resources. In tourism development and environmental protection activities linked to the production of future success. Uncontrolled development is likely to undermine the tourist attraction. Adequate planning by the government, the threat of environmental degradation faced by the world tourism industry can be overcome. The social impact of tourism Between visitors and residents can be mutually beneficial social ties: 1. Resident population to gain more understanding of cultural tourists, so as to maintain the national heritage of some of the traditional activities and needs. 2. Passengers bring tourism revenue and maintenance, and for local use these facilities. Visitors can go to the same host country and its culture and traditions of understanding of their homes. The development of tourism can promote each others misunderstanding, hostility and social tensions, the impact of living by the tourists. This could include prostitution, crime and gambling. Social policy and social services must become an integral part of tourism planning, tourism operators and by the host government. Failure to do so may appear hostile to tourists, which can reduce the tourist flow and vitality. Results and Discussions We conducted the survey among diverse demographics to analyze the current situation of tourism industry of India. After collecting data, we first performed the factor analysis on the data. From factor analysis we got five different factors on which we performed multiple linear regression (MLR) to get the refined results. Given below is the output that we generated from SPSS: We can clearly find out that people give importance to Information about tourist spots, tour packages and security then Infrastructure and Hospitality. To attract large number of tourists we need to implement solutions for these factors and have to take appropriate measure for the growth of Indian tourism Industry. Recommendations as per our study Tourism is the worlds largest production activities. This is accepted as their source of income and employment potential of the results of the government. The pace and the future tourism project are to determine the direction of the explosive growth: Information We need to develop an information system which is very efficient and accessible across the globe which also includes remote areas. Security In India we need to make sure that we have to keep safety mechanism ready and speedy by connecting every tourist place, hotels to our police stations. We can keep a chunk of the policemen to cater particular to this need. Creativity Industry people have to start working on framing the package tours with more creativity and innovation as our mass tourist products are more or less same and lack the flexibility which is required. Infrastructure We need to provide adequate protection of the environment. Tourism trend is closely related to national infrastructure. Infrastructures in India needs huge investment outlay and will directly have an impact on the growth of the tourism Industry. Accessibility Transport technology to make long-term fortunes with more affordable, more people to participate in international travel. Chosen to reflect the perceived safety of the destination. Accommodation Tourists will be attracted to the destination best suits their needs. Tourism is trying to provide travel experiences to suit all budgets and circumstances. Attractions Technology will continue to develop and strengthen the tourism experience. Market research will lead to new tourism operators to promote products. This is may be some barriers to international travel. Visitors will be courting the economic development of developed and developing countries. Tourism stakeholders will have to bear greater responsibility. Whether it is a tourist and the host population should not be regarded as environmental quality. The basic strategy of tourism development is to preserve and protect areas such as goal setting apart. Development of guidelines for ethical and environmental regulations should be implemented to maintain sustainable tourism in the next century is feasible. As the state boarders open, population aging, more affluent, tourism is to promote more and more people will go. As production activities, tourisms importance in the global economy will continue to grow. Some more positives and negatives about the tourism industry which can be enhanced and can be prevent respectively: Tourism foreign exchange earnings can be used to pay for imports Protection of the unique environment is often Travel to create employment opportunities, are labor-intensive Local products can be sold to hotels and resorts At the airport with foreign investment Profits can be used to improve housing, schools, etc. Local customs and traditions are preserved To improve cultural understanding 10-20% of the income received in time to stay in

Adults with Learning Disabilities Essays -- Technology Education Essay

Adults with Learning Disabilities The field has not quite reached consensus on definitions of LD, and there are professionals as well as members of the public who do not understand them or believe they exist. For example, in a Roper (1995) survey of 1,200 adults, 85% associated LD with mental retardation 66% with deafness, and 60% with blindness. In Rocco's (1997) research, faculty "questioned the existence of certain conditions or if they existed, the appropriateness of classifying the condition as a disability" (p. 158). However, most definitions describe learning disabilities as a group of disorders that affect the ability to acquire and use listening, speaking, reading, writing, reasoning, or math skills (Gerber and Reiff 1994; National Adult Literacy and Learning Disabilities Center 1995a; National Center for Learning Disabilities 1997). These difficulties vary in severity, may persist across the lifespan, and may affect one or more areas of a person's life, including learning, work, and social and emotional fun ctioning. Federal regulations for implementing the Rehabilitation Act and the Americans with Disabilities Act use the term "specific learning disabilities" disorders in one or more central nervous system processes involved in perceiving, understanding, and using verbal or nonverbal information (Gerber and Reiff 1994). "Specific" indicates that the disability affects only certain learning processes. Although adults with LD consistently describe being labeled as stupid or slow learners (Brown, Druck, and Corcoran in Gerber and Reiff 1994), they usually have average or above average intelligence. People with learning disabilities are the largest segment of the disability population, and growing numbers of col... ..., DC: NALLD, 1995b. (ED 387 988) Reiff, H. B.; Ginsberg, R.; and Gerber, P. J. "New Perspectives on Teaching from Successful Adults with Learning Disabilities." Remedial and Special Education 16, no. 1 (January 1995): 29-37. (EJ 497 555) Riviere, A. Assistive Technology: Meeting the Needs of Adults with Learning Disabilities. Washington, DC: NALLD, 1996. (ED 401 686) Rocco, T. S. "Hesitating to Disclose." In Proceedings of the 16th Annual Midwest Research-to-Practice Conference in Adult, Continuing, and Community Education, edited by S. J. Levine, pp. 157-163. East Lansing: Michigan State University, October 1997. Roper Starch Worldwide, Inc. Learning Disabilities and the American Public. Roper Starch Worldwide, Inc, 1995. (ED 389 101) Telander, J. E. "The Adjustment of Learning Disabled Adults." Ph.D. diss., Biola University, 1994. (ED 372 586)

Of Mice And Men Essay On Loneliness -- essays research papers

In the novel Of Mice and Men, John Steinbeck looks at the theme of loneliness as it affects many characters on the ranch. Crooks, Curley's wife, and Candy are the most excluded characters on the ranch, because they all have dreams that they will not be able to live out and they all are at loss when it came to companionship. Crooks is lonely because he is the only black man on the ranch. Since this book is set during the Depression, Jim Crow laws are still in effect, whites and blacks had separate facilities for socializing and living. Crooks comments that he can't live in the bunkhouse, and cant even play cards in there. "I cant' play because I'm black. They say I stink."(68) This quote illustrates that Crooks feels the pain of rejection more that he let's people see. In fact, Crooks protects himself by acting like a "proud and aloof man."(67) The full extent of Crooks's suffering is made clear in chapter 4 when Crooks lashes out at Lennie. Viewing Lennie as a symbol of all the white men who had hurt him, Crooks strikes out in anger, saying "You got no right to come in my room...Nobody got any right in here but me."(68) Steinbeck states that "Crooks's face lighted with pleasure in his torture."(71) Crooks's anger, though, is really just a cover for the pain he experiences from constant isolation. "A guy goes nuts if he aint got nobody ... A guy gets too lonely and he gets sick."(73) This desire to have a connection is apparent later in the scene when Crooks hears Lennie and Candy's plan to buy a little ranch. Wistfully, he suggests, "If you guys want a hand to work for nothing, just his keep, why Id come and lend a hand."(76) No matter how hard Crooks may try to hide the hurt he feels, he clearly would like to be included in this venture with the other men. Crooks's dream, however, lasts only for a few minutes. When Curley's wife threatens Crooks with a lynching, he quickly remembers the terrible reality of his situation . Steinbeck writes "Crooks had reduced himself to nothing. There was no personality, no ego - his voice was toneless."(81) The character of Crooks reflects the universal need for human connection as well as the brutalizing effects of racial prejudice. Like Crooks, Curley's wife is very lonely, but she is lonely for different reasons. Like Crooks Curley's wife suffers from... ...ion. But Candy gets some life back in him when he hears George and Lennie talking about their dream farm. Hearing this gives Candy a reason to live. He would love to join George and Lennie on there farm and he even tells them that he'll give them money to help finance it "I aint't much good with on'y one hand. I lost my hand right here on this ranch...an' they give me two hunderd an' fifty dollars ‘cause I los' my hand. An' I got fifty more saved up right in the bank, right now...and I got fifty more more comin... S'pose I went in with you guys. Tha's three hundred an' fifty bucks I'd put in."(59) When George agrees to let Candy jump on the wagon and join the farm, you can tell Candy is extremely pleased. But with death of Lennie the dream of the farm dies to. Like the other characters Candy's dream was stolen from him. Candy's character was lonely because he needed human contact but his only companion was his dog which was killed. Loneliness affected many characters in John Steinbecks novel, Of Mice and Men. Crooks, Curley's wife and Candy were affected the most by this loneliness because none of them had a real companion and all of them had dreams which were shattered.

Humility in Lifeand Business

Humility is the one characteristic human trait that is the most elusive, as it cannot be obtained through effort, work, or education. The reason it is so difficult to obtain is because the more you aspire for it, the more it will go away from you. Have you ever heard a person state, â€Å"I have finally become a humble person! † The statement alone is a signal that humility has not been gained. It is something which has to be inculcated from the very beginning in one’s life. For this to happen, it follows that the right family values play a very important role. Humility is a trait that lets a person be grounded, no matter what the situation is. It’s considered a virtue in many religious and philosophical traditions. Humility is multi-dimensional and includes self-understanding and awareness and openness. Humility stops the ego or arrogance from creeping in to our minds and it is a great team building asset and vital in a business. In business there are people who work for you, you pay them wages for them to deliver the amount of work entrusted to them, to achieve their KRA’s so as to say. But by no means does that give the employer the right to treat them in a non-humane manner. Respecting the human resource today, the people who work for you whether it be a manufacturing facility or a services concern, is imperative. The respect will come as an offshoot of humility, in the belief that not only ones leadership but also the people who work for you are the two wheels which draw your chariot of success. Leaders, who want to inspire followership, need to demonstrate not simply their accomplishments but their character. Take pride in what you have done, but use it as a platform to bring people together to do greater things, e. g. increase sales and improve quality. Use your leadership for something other than self-aggrandizement. We must understand that as humans, it is natural for us to have our faults and to realise the things which we do well and ones which we do not. This is the first step to self realisation and the stepping stone to humility. In a way it helps you to think beyond yourselves and see the larger picture. Hence, it is considered an important characteristic, one to be believed and practised. C. K. Prahalad, the renowned management guru said â€Å"Leadership is about self-awareness, recognizing your failings, and developing modesty, humility, and humanity. † It is essential to acknowledge what others do. Few have said it better than legendary Alabama coach, Paul â€Å"Bear† Bryant. â€Å"If anything goes bad, I did it. If anything goes semi-good, we did it. If anything goes really good, then you did it. That's all it takes to get people to win football games for you. Practice that attitude always, especially when things are not going well, and your team will rally together because they want you to succeed. In short, humility breeds humility. It is the same in business and in life. Success plays a critical role when it comes to humility in Life. In the journey of life, achievement of success- expected or unexpected can boost anybody's ego and put them in a spot of complace ncy. Furthermore milestones of success are keenly anticipated. Subsequent successes are hugely welcomed but at that point of time, the occurrence of any possible failure can really demoralize the person. In the case of the humble ones, the wings of airs are rarely obtained. Even in times of adversity the humble ones stay put. Humility can bring more success in the long run. The lesson remains that it always pays to be more grateful than to be more proud. It is human to want more in life, to be ambitious and to go to lengths to achieve your goals. But in this process we often choose the path of ruthlessness and become shrewd. This path has provided success more often than not to most people who have resorted to using it, which in turn gives us the return present of PRIDE. We loose the art of humility that was one of the first lessons taught to us as children, and as the saying goes ‘Pride comes before a fall. ’ Each one of us is a blend of our personal and professional lives and as I see myself part woman and part businesswoman, I have realized the importance of humility in everyday life. Sometimes I learnt it the hard way, but it was a lesson well learnt. I have realized that in family situations and at my work place whenever I was faced with a difficult situation and I choose to be angry or arrogant, I was not able to achieve the desired results. People respond better to love and compassion as compared to criticism. I learnt that when I changed my attitude in situations in which I otherwise used to be angry or proud to one where I was humble, I got better results! We have to try not to let our achievements in life get to our heads. I met with a time in my life when everything was falling apart my work, my health and my personal life and I had nothing but my attitude to blame for it. I considered my small achievements as big, people were doing much more work than I was and keeping silent about it. Their humility was giving them the necessary cover and capacity to do better while I was collapsing under the weight of my attitude. But only when you reach your lowest point can you rise back up. I hit an all time low, met with an accident, and was laid up in bed for 9 months. This forced rest gave me the opportunity to ponder over my life. Life taught me the best lesson I have learnt the hardest way. I was left at the mercy of others, I could not walk or move without help. This helplessness broke my pride to bits. In these 9 months in bed, I realized that my attitude of pride has given me nothing but anger and failure. When I got back onto my feet, I slowly started to change my ways. As they say ‘charity begins at home’ I started by changing my attitude towards my family and friends. I became more forgiving and adopted an Attitude of Gratitude towards daily things. Seeing my changed attitude my family changed their attitude towards me. Difficult situations became easier and life started to seem easy. As I saw a change in family situations I realized how this could change troubled situations at work as well. I started by being more soft spoken and humble towards people at work – my employees and my clients of course. Even when I saw a difficult situation I did not act on impulse and on success I was not proud. I tried to look at every achievement as a stepping stone towards more and kept my calm. The frequency of my achievements grew considerably and I was able to think better with a sound mind. This new found clarity gave me immense satisfaction and peace of mind. I was happier, more loved and respected among family and co-workers and since then I have tried to make it my way of life.

The Dragon Rises: China’s Growing Economy

China, both as a race and as a geographical place, is a something that the world cannot ignore. The size and population of the country is formidable, and as such, China’s recent economic reforms have called the attention of global market. In just a span of over two decades, China was able to turn its economy around and currently, stands among the world’s major economic forces. (Hui 2003) Its growth has been phenomenal and is still growing at an unprecedented pace. In the past twenty years, China has been able to increase its Gross Domestic Product (GDP) by four times, and now is recognized as a global economic power. China has quickly worked its way up in the global economic scene and currently stands in the sixth position of the top trading countries of the world. These events have also lead to the influx of foreign investors which leads to even more growth. (Pei 2007) Experts believe that China’s potential is as large and wide as its physical size and population. (Wanwen 2003) The ebbs and ties of China’s economy have been directly related to the sociological changes that it has been going through, particularly in its more recent history. As such, this paper intends to look at how these sociological events have been instrumental in creating the China that we know today and how its history as a nation continues to shape its people’s collective and individual destiny. In terms of our collective history, China has always been a major world presence, not just in terms of economy, but more so in terms of the legacies that the Chinese civilization has given to us. However, whatever presence that China has had over the course of its history has been obscured by internal conflicts and divisiveness which resulted in China falling to communist rule. Distracted by domestic conflicts and territorial disputes, China failed to keep pace with the Industrial Revolution that swept Europe during the 18th and 19th centuries. China fell too far behind and was unable to recover. When the last of its emperors fell, China was left to languish in the shadow of communism which was at its height during Mao Zedong’s rule. (Pei 2007) The failure of communism to provide a better life for the Chinese sowed the seeds of discontent. China’s communist government initiated a series socioeconomic policies that brought more suffering to the people, and an already stumbling country to its knees. Mao’s Great Leap Forward and Cultural Revolution left what is left of China in ruins. (Mackerras, 2001) After barely half a century of communism, China was ready for a change. When Zedong and his first-generation Chinese communist hardliners died, they were replaced by Deng Xiaoping, a more liberal ruler who laid the foundations for political and societal reforms, which in turn created an environment more conducive to economic growth. As a society, China was gradually emerging from its isolationist and repressive communist past with a government more cognizant of the need for change and openness. In 1979, after decades of isolation, China opened its doors to foreign investors. This was a turning point in the country’s economy. The tremendous size of China’s population, as well as its cheap labor costs made it a haven for production. (Wang 2003) Soon, other multinational businesses followed suit, realizing the cost-effectiveness of manufacturing in China, and the country never looked back since then. Of course, the act of opening China for foreign investments would not have been successful without the creation of more liberal policies that made China attractive to businesses. The government began laying the foundations that would encourage a more market-oriented economy, while maintaining a tight political structure that characterized its socialist orientation. Aside from allowing foreign business to operate in China, these social and economic reforms also included the privatization of agricultural lands. The change from communal farming to individual operations allowed farmers more freedom in so far as the production of their crops is concerned. Mackerras, 2001) More authority and responsibility were passed on from the central government to local officials, who in turn created an environment that encouraged backyard business to develop and flourish. (Wang 2003) Indeed, these massive and sweeping reforms have been successful in effecting the desired changes in China. However, Xiaoping and his followers have been keen to emphasize that the liberalization of society and economy as well as the easing of institutionalized control structures were done not so much to abandon socialism, but to improve it. Tianyu 2003) The Chinese, while eager to embrace change, is more reluctant to admit that socialism is wrong. In the end, the main goal of these reforms was to create a strong socialist country through democratization and modernization of society. The main tenet was that rather than struggle with the West, socialist China had better chances at proving its worth by cooperating with the West, through common economic interests. (Tianyu 2003) China was able to benefit from the initial attempts at reforms made by the European socialists, primarily the Soviet Union and Poland. Coming after their heels, China was able to learn from the mistakes their predecessors have made. China was able to maintain a strong centralized government, while allowing for the decentralization of economic functions. (Tianyu 2003) These societal and economic reforms continued unabated from the late 1970’s until the early 1990’s when China was ready to enter the second phase of its reform campaign. In 1993, Deng Xiaoping announced China’s main goal: that of becoming â€Å"a socialist market economy. † (qtd. n Wang 2003) After successfully laying down the necessary social and legal infrastructures for a free-market, China was now ready to stake its claim in the global market stage. The main characteristic of this second phase revolved around the gradual shift from a planned or constructed economy to one that is more spontaneous and free-flowing. (Wang 2003) Privately owned business flourished, alongside foreign businesses. The goal was to advance the gro wth and penetrate the global arena. In 2001, China marked a milestone with its acceptance in the World Trade Organization (WTO). Finally, the global recognition China has been yearning for has been given, and it was well worth the long wait. By 2003, the third wave of reforms was laid out, with the main goal of creating a stable socialist market economy by 2010 and a perfect socialist market economy by 2020. (qtd. in Wang 2003) The goals are indeed lofty, and while much still remains to be done, it is apparent that China is on the right track, based on the sustained growth the country has been experiencing as of late. Indeed, the social changes that have been put in effect in China have resulted in the economic growth and political power that the country enjoys in the world community. Had China remained a repressed and isolated society, it would still be trapped in the chaos and darkness of its communist past. Of course that is not to say that these changes did not come at a great price. Some sacrifices had to be made, and none of them were easy to do. The modern Chinese society that is modern and liberal was built upon the sacrifices of those who were willing to risk their lives in order to demand for change. Also, while the economy of China is generally healthy, it does not mean that every Chinese individual is experiencing this prosperity. These changes have also created an imbalance in society, where people in urbanized areas enjoying a better standard of living than people living in rural, undeveloped areas of the country. This inequality must be addressed by the Chinese government if it is to be successful in achieving the goals that it has set for itself. In the final analysis, the liberalization of China has been a long time coming. For so long it has languished under ineffective and cruel governments and an oppressive society that has no respect for the individual; a society that China has created for itself. Albeit belatedly, China has now come to its senses and has woken itself up. The winds of change have blown over this great country, awakening the dragon that has been sleeping for so long. For better or for worse, the rising of the dragon is completed and for China, there is no looking back. References Hui, Q. (2003). The Issues of the Chinese Economy Changing Tracks, Social Justice, and Democratization at the Turn of the Century. Chinese Economy, Volume 36, Number 2. pp. 21-89. Lin, Y. (2000). State and Markets under China’s Transformation: Rethinking China's Economic Transformation. Contemporary Sociology, Vol. 29, No. 4. pp. 608-613. Mackerras, C. (2001). The New Cambridge Handbook of Contemporary China. Cambridge University Press. Pei, M. (2007) Changing State-Society Relations in China. Retrieved on November 28, 2007 from http://www.ceibs.edu/ase/Documents/EuroChinaForum/minxin.htm Tianyu, C. (2003). The Theory and Practice of the Chinese Path. Chinese Economy, Volume 36, Number 4. pp. 67-98. Wang, J. (2003) China and the World Economy. CIEBS. Retrieved on November 28, 2007 from http://www.ceibs.edu/ase/Documents/EuroChinaForum/China's_Economy_World_files/frame.htm. Wanwen, C. (2003) Globalization and Economic Development. Chinese Economy, Volume 36, Number 1. pp. 48-88.