Why Do Big Data And Product Design Are All Important...

Introduction Big data, defined as â€Å"a popular term used to describe the exponential growth and availability of data†(What is Big Data? , n. d. ), has attracted considerable interest in many fields as it promises to offer a level of analytic detail that has not been reached so far. Whilst it is often promoted as the solution to many marketing problems, it has some significant disadvantages. Cost, data selection, problems relating to the interpretation of the data and difficulties deciding how to apply the new knowledge to existing products and product design are all important problems. Situation There is a line chart above from Google Trends which illustrates the searching record (Big Data) from 2005 to 2015.As can be seen, Big Data has†¦show more content†¦Probably, Big Data can be the future of marketing. However, there are some problems in using Big Data because of these characteristics. If the enterprises do not know how to address problems, the investment will be wasted while enterprises still search around in the haystack for the needle. Therefore, some problems will be illustrated followed by the solutions for Big Data. Problems Firstly, the main problem is deciding which data should be selected. The data, explaining customers’ desires and needs, is important to be collected while most of the enterprises are confusing about what data they should concentrate on. A recent Gartner report (2014) stresses that 64% of firms raced to plan or launch a Big Data project, though they did not have enough professional knowledge yet. To understand what customers need through Big Data possibly turns into the core of companies’ target. The large data volumes and different varieties of data lead to data complexity. Secondly, the result predicted by Big Data probably may not be true at last. (MARCUS, DAVIS. 2014).This phenomenon happen frequently in many companies. Take Google Flu Trends as an example, they predicted that the Disease Control and Protection Center was not able to control the spread of flu quickly and effectively as time went on. Later, this conclusion was proved wrong. Hence, it means that future prediction contains inconsistencies compared with reality.

Effects of Technology on Social Relationships Essay

As much as I regret to admit it, I’m attached to my phone. I’m constantly reaching into my pocket to check the time, make sure I haven’t gotten a new update, or to send a message. I do this even when I’m not talking to anyone! It’s become an addiction, having to make sure I’m not missing anything, and Im not the only one who has this problem. Seventy-five percent of the world population has a cell phone, and that number will only increase. With the creation of new technology portions of life have become easier. Technology has changed the way we go through life. It’s made talking to people easier, as well as keeping up with the lives of others. However, the effects have affected the aspects of our lives that don’t include technology.†¦show more content†¦You’re expected to keep it short and sweet, because most people just want to hear the point and move on. This is noticeable when you talk to people of different a ges. The people who have grown up using technology keep their conversations quick and easy. There’s no more explaining how your day was; you simply state an adjective to describe it and people accept that. We have become accustomed to reading about other people’s thoughts in a hundred and forty characters or less. Carr mentions that reading short snippets on the internet have affected him in other ways, â€Å"When I mention my troubles with reading to friends and acquaintances-literary types, most of them-many say they’re having similar experiences. The more they use the Web, the more they have to fight to stay focused on long pieces of writing.† (Carr 14) People don’t want to read the story of your day, but it’s nice to know you had a good one. Technology has caused our attention span to shorten in all sides of our lives. Matt Richtel, another journalist agrees that focusing has become harder with the increase in the use of technology. He suggests the reason is because of how we obtain the information. â€Å"Scientists say juggling email, phone calls and other incoming information can change how people think and behave. They say out ability to focus is being undermined by bursts of information. These play to a primitive impulse to respond to immediateShow MoreRelatedImpact Of Technology On Society s Social Life1409 Words   |  6 Pagesso-called technology. Although it is true that the use of this technology on many occasions it helps many people to be in contact with those who are far away. Social platforms like Facebook and tweeter among others bring advantages for people, but at the same time have a negative effect on their behavior. The way they respond to interpersonal relationships and the outcomes that may come from them. For instance, the research about the effects that technology has on soc ial lives, the way social media influencesRead MoreThe Effects On Relationships From Social Media1171 Words   |  5 PagesKayla Joseph Rebecca Mitchell English 603-HSZ-VA May 9, 2017 The Effects on Relationships from Social Media Social media is incorporated in our everyday lives. It is used mostly to stay connected with friends, family and the media world in general, but sometimes, it is used in different ways in such it can have an effect on relationships. The issue about social media and relationships is that it can cause a lot of issues such as disloyalty, trust issues, etc. It is much easier to cheat on your partnerRead MoreSocial Media And Its Effect On Society1644 Words   |  7 PagesIn today’s day in age almost everyone has some form of social media. Many people have more than one. Whether it is Facebook, Twitter or some other form. We all use it to express and communicate our thoughts and feelings about ourselves and the world. Because of this many people do not know how to communicate face to face anymore and many times even hide behind their keyboard. Keller (2013), Quotes Paul Booth an assistant professor of media and cinema studies saying â€Å"There has been a shift in theRead MoreWha t are the Effects of Modern Technology on Relationships? Essay1448 Words   |  6 Pages(1910) maintains that personal communication has evolved over the years. He argues that technology and social changes have advanced from the period of letter writing to house phone usage, which became popular in the beginning of the 20th century. From the time of letter writing to the current century, technology has evolved to e-communication and cell phone usage. By analyzing the effects that modern technology has had on functionality, time efficiency, and a shear ease on communication, we developRead MoreEffects Of Technology On Our Lives1679 Words   |  7 Pagespeople use technology eleven hours of the average waking hours of sixteen to eighteen. That is sixty one to sixty eight percent of waking time on technology. Overuse of any thing is unhealthy, especially overuse with so many adverse effects. Technology has three main categories of unhealthy effects. Physical, Mental/Emotional, and So cial/Environmental. Because of its wide range of unhealthy effects on several aspects of life its use should be limited. Technology has unhealthy effects on many aspectsRead More â€Å"Is technology tearing apart family life? Essay1622 Words   |  7 Pagesâ€Å"Is technology tearing apart family life? Text messaging, social networking, and online video are changing the way parents and children see the world—and each other.† There are many technologies in today’s ‘smart’ world which are now being established not just as a want, but as a necessity of life. Among many technologies that can impact family life, Smartphones and computers are the two most crucial technologies that can impact family life. The functions of computers and SmartphonesRead MoreIssues with Social Relationships and Health Essay686 Words   |  3 Pageswith Social Relationships and Health Studies of mortality, which included social relationships as a metric, determined social relationships have a significant causal relationship to mortality. (Holt-Lunstad, Smith Layton, 2010) More studies have been done on social relationships however; the mechanisms of how social relationships affect our health are still unclear. (2010) Relationships and their effect on health status continue to be an important area of research and analysis. Social relationshipsRead MoreBenefits Of Being Top Notch Communication Channels916 Words   |  4 PagesIt is apparent that technology has exceeded humanity; face –to-face is worryingly diminishing because of the emergence of social-media technologies. Over 90% of the people in the modern world use social media such as Twitter, Facebook and Tumblr amongst others as communication platforms. These technologies play a significant role in the lives of people to the extent that some do not consider living without them. Social media technolo gies have become known forms of social interaction across the globeRead MoreThe Effects Of Cellphones On Our Daily Lives Essay1679 Words   |  7 Pagestechnological advances and continual rise in interest, large amounts of research have been done on the overall impact that technology has had. We have previously stated that the goal of our study is to determine the overall effects that cellphones play on face-to-face interactions with one another on a daily basis. It is important to grasp the research being done on technology as a whole. There are currently mass amounts of research on the impact that cellphones have, but it seems that there isRead MoreIs Facebook Killing Our Souls?1588 Words   |  7 Pagesâ€Å"Social media allows people to connect with each other to create and share information. It is people-powered communication, an authentic dialogue motivated by a basic human desire to share information† (CIPD, Social Media and Employee Voice Report 2013). ‘Cl ick’ and my message is on its way to my friend’s Facebook inbox hundred of miles away. The astonishing speed of how quick we can communicate in today’s societies, all thanks to social media. The invention of Facebook simplified everything we know

Business Plan Sugarcane Juice Industry Free Essays

Executive Summary We are the students of BBA from AIUB; under kind supervisor of sir MD. Mostofa Jaman started to work on new and innovative idea that has not been before in Bangladesh. As a step towards growing entrepreneurship in Bangladesh we students of AIUB have a tradition to present our new and innovative idea in front of people which could benefit the job situation in Bangladesh and so that we could become job givers not job beggars. We will write a custom essay sample on Business Plan: Sugarcane Juice Industry or any similar topic only for you Order Now Sugarcane juice industry is a business idea that deals is product. Our product is sugarcane juice in tin pack or pet bottles. Sugarcane juice is widely used in summer season because of its taste and low costs. Now in many countries it’s produced on chemical basis and there sales are quite high especially in Middle East countries. This juice is widely used in hot weather conditions. Industry Environment Over view of the industry Our business is the part of fruit vegetable industry of Bangladesh. Agriculture is the largest income and employment-generating sector of Bangladesh. About two third population of the country resides in rural areas and directly or indirectly depends on agriculture for their livelihood. The sector is an important source of demands for its products. Company Locations and Facilities We select our industry location in Ashulia, Gazipur because we collect most of our sugarcanes from the north Bengal. The transportation system with north Bengal to Ashulia is very good. Potential customers Our potential customers will be every kind of individuals like: ? Students at every level. (from school to universities) ?Employees who work the entire day in hot condition. ?Households, passengers. In summer season every kind of people with no age limit use this juice, because most of the people avoid unhygienic products. Initially we will only limit our geographical scope to Dhaka and then after initial success we will expand our target segments. We expect we will cover almost 30%-40% of Dhaka’s population which could be almost one million we expect that out of these 30%-40% we will capture 60%-70% of the market. Direct competitors We don’t have direct competitors in our product however in substitute products we have mainly big companies like: Pran, Shezan, Akiz, Partex etc. Marketing Business opportunity This is the business plan of a partnership in the name of Sugarcane juice. The plan is to process and market the high-quality sugarcane juice. First time in Bangladesh, juice will be preserved in tin pack keeping them as fresh as at time of extraction. Till now market deals in fresh fruit juices which can be easily preserved however this idea has not been catered yet. Collecting raw materials Bangladesh country is an agricultural country. In North Bengal the farmers produce a huge amount of sugarcane. So it is a great opportunities for us to collect our raw materials. 1st year we buy our raw materials from those farmer. On the other hand in that year we leas 450-500 acres of land from the farmers and produce sugarcane in those land. Our sugarcane production will be increase if we grab the market. Company impact Sugarcane juice is widely used because of its sweet taste and being a solution to different health problems. The cost of production and raw material is not so much. It needs not to be marketed so much because it’s a new thing which people will try and love a lot. Simply we can place it in universities cafeterias, gourmet franchises and grocery shops, the only thing we must do is to ensure its shelf life and long time preservation time. Company strategy In first year, our company will market in Dhaka. Dhaka will be sole market for first year. Then looking through our sales history we will expand our business opportunities to other big cities of Bangladesh. More products that will be processed in same way and will be included in product line after making a good repute in the history. Operation Organizational structure â€Å"AAA† is an organization that will be legally formed as partnership firm. The partners will be Afroja Islam, Wasif Sabbir Hossain, Jabir Rahman, Shubo Saha and Md. Yusuf Raihan. Each partner will contribute 20% as initial investment in business. Key management personnel 4 important departments will be there: Purchasing and logistics Mr. Wasif Sabbir Hossain with one assistance (employee) will be responsible for all operating materials purchases at best possible rates and delivering at the appropriate time, use of just in time inventory. Production and Financial operations Md. Yousuf Raihan will be responsible for qualify production process. He will also be responsible for financial records and accounting. Md. Yusuf Raihan needs the following staff at the plant in the process. Process workers (1) Marketing Miss Afroja Islam is our marketing researcher. She alone with assistance of Jabir Rahman is responsible to design promotional campaigns and do art work for advertisement. Their main task is to work in celebration with sales department to create demand opportunities and find out new market segments. Warehouse Management and sales Mr. Shubo Saha will be responsible for managing finished goods inventory in Dhaka Warehouse and office and to go generate sales per decided and approved credit terms from financial department. Machinery requirement We use few kinds of machinery in our industry. Like crusher machine for crash sugarcane, filter machine for filter the crushed juice, labeling machine, can lid machine etc. Our plant capacity will be 3500-4000 Liters per day. Preservation system for sugarcane Aqueous ammonia (28% NH3 w/v) was mixed with 500ml batches freshly extracted sugarcane juice at level of 0, 0. 5, 1. 0, 1. 5, 2. 0, 2. 5 and 30% (w/v). the mixture were at a room temperature is sealed glass containers for 7 day period to measure changes in pH and Brix of the juice. Result for pH Brix during 7 days after treatment are shown in Table 1. It gives the trends in these measurement for aqueous ammonia level of 0, 0. 5, 1. 0, 1. 5 and 2%. Results for higher concentrations were identical to those for 2% aqueous ammonia. It is obvious that ammonia works well as a preservation especially if fairly high level are used, at level above 2% w/v the juice becomes less palatable for cattle and such situations if should bereft to stand until the excess ammonia dissipates. It has been suggested by Leng and Preston (1976) that the optimum level of available nitrogen in the rumen to ensure optimum synthesis of microbial protein in 3 g N/100 g of fermentable organic matter. Taking this case of cane juice at 14 Brix, then this world require about 1. 5% (w/v) of aqueous ammonia (28% NH3 w/v) in order to provide the required amount of available nitrogen for microbial protein synthesis. In the experiment reported here, the inclusion of from 1. 5-2. 0% aqueous ammonia in the sugarcane juice, thus provided the necessary amount of Nitrogen for rumen systematic protein and also preserved the juice over 6 days. Investment and Projected Financials Capital investment Business will be started with total capital of BDT 10,000,000. Each of five partners contributes 20% capital. Investment BDT Security payment for 10 Marla building Plant machinery Labeling machinery Can lid selling machinery Working capital Total 200,000 4,060,000 90,000 110,000 4,662,000 9,122,000 Operating investment before earning BDT 4 months rent of plant building Wages for approx 2. 5 months Approximate initial recruitment cost Initial utility bills Total 160,000 100,000 20,000 40,000 320,000 Surplus= (10000000-9122000) =878,000 Surplus will be used to purchase operating materials for supplies for starting production. RA! HAN How to cite Business Plan: Sugarcane Juice Industry, Essay examples

Bertinin Italian Restaurant Vs Garland Properties Pty Ltd

Question: Diference Beetween Bertinin Italian Restaurant Vs Garland Properties Pty Ltd? Answer: Introduction The concepts of collateral contract, promissory estoppel and remedies as used in the law of contract on many occasions have remained the bone of contention in many of the cases adjudicated in the courts today. Perhaps this is because many of the parties that enter into contract clearly do not understand their role in it and the issues that must be agreed upon before entering into a contractual relationship (Knowler, 2011, Stephenson, 2014 and Young, 2016). The case at hand is one example where the parties are not very sure of what step to take after the notice terminating the tenancy relationship had been issued. The analysis of this case will advise the two parties about their standing points about the collateral contract, promissory estoppel, and remedies. The security contract also known as a side contract, is entered into outside the main contract even it is has a strong relationship with the original one (McKendrick, 2015). The side contract is normally accepted because the issu es concerned can conflict the original contract. On the other hand, the doctrine of Promissory Estoppel is considered an equitable discipline that is aimed at preventing any injustice (Macdonald et al. 2014). The concept is neither an agreement nor estoppels but a principle that is normally invoked when one breaches a contract (Knowler, 2011). Finally, remedies refer to damages one stands to be paid as a result of the other party breaching the contract. All these concepts will be the guiding rules in the analysis. Bertin Collateral contract, promissory estoppel, and remedies Even though it was not put in writing the two parties in the contract did enter into what was believed to be a collateral contract by the plaintiff. The plaintiff in the case had been leasing the restaurant space from Garland Properties Pty Ltd on a monthly basis thus implying that contract was being entered into every month. However, the accuser did develop an interest to lease the property for ten years with a possibility of five years renewal. This means that a long-term contract had to be signed between the two parties (Green, 2014. This did not go as planned since the owner of the property, was only willing to lease the property for five years. Even though the two parties had not agreed on the way forward, leaser did indicate that they will look after the tenant at the renewal of the lease after five years if the leasee could undertake a major refurbishment of the restaurant space. It was a massive project costing the plaintiff approximately $2 million. The landlord did also mak e statements that if the refurbishment could be done and completed before a major Melbourne Expo was held, the tenant could be considered for renewal after the five years period. Now, considering the statements that were being made by the landlord, they were amounting to a collateral contract which was part of the original contract according to the complainant (Macdonald et al. 2014). Because of that, the tenant decided to make a commitment of resources to refurbish the restaurant with the hope that the contract will be renewed after five years and that will be able to $300,000 both from ordinary profits and other exceptional profits. This was only possible with a new contract. However, this did not happen since they were given six months to vacate the premises. This becomes the damage they suffered as result of the landlords decision (McKendrick, 2015). Worth noting, however, is the fact that when the five-year contract was signed, some contractual issues were agreed upon. First, the landlord was free to renew the lease and given the terms of the new lease. They could also allow the tenant to enter into a month-to-month basis. Lastly, they could choose to te rminate the contract and give the notice of vacation. The latter happened. The promissory estoppel happens when a party in the contract makes a certain decision by relying on the statements or bids made by the other party. It is one concept that many legal scholars have come to identify with the modern business environment. It is therefore expected that one party must reasonably induce the forbearance and character that substantially causes a certain action and should remain to bind (Green 2014, Hugh, 1996, Kidd, 1990 and McKendrick, 2015). In simple terms, the statement that leads one person to do something, justice can only be done if what was promised is done. In this case, the plaintiff relied on the statements that were made by the landlord to engage in refurbishing the restaurant. He hoped that after the renewal, the business would recover and make profits out of the ten year period. In this case, the owner of the property was making indicative promises to the tenant. Based on the evidence provided for in the case, clearly, there is no evidence for a collateral contract (Morgan, 2015). However, what was being done by the landlord did show intention to promise something to the tenant something that triggered their action. Considering what the tenant had done and what had been promised to them, it is important to point out that legally speaking, there is no clear promise that the lease will be renewed. The leasee stands to lose about $300,000. This is the damage that could be considered if the court granted the plaintiff requests. Based on the scenario under which the refurbishment was done, the plaintiff does not stand to get any remedies as a result of damage. First there is no clear collateral contract, and secondly, there is no clear promissory estoppel. This could be well illustrated by the case of Crown Melbourne Ltd v Cosmopolitan Hotel (Vic) Pty Ltd. The case was about the leasing of a residential house for tenants from Crown by Cosmopolitan (Hotel, 2016). In this case, Crown had leased the house to Cosmopolitan, and after some time, Crown thought of making some major refurbishments on the two premises. The lease was for five years, and after the understanding, Crown did make a statement that the tenants will be looked after at the time of the renewal if the tenant did the quality refurbishment. Cosmopolitan did go ahead and did the refurbishment. After the five years elapsed, Crown declined to renew the leasehold and Cosmopolitan were expected to vacate the premises. Based on the action by the owner, the case ended in the Victorian Civil and Administrative Tribunal. After reviewing the case and the facts surrounding it, the tribunal stated that if the refurbishing were of good quality would think of renewing the lease for Cosmopolitan, amounted to an unenforceable collateral contract (Green, 2014). In clear terms, it looked like a promise, and therefore the tenant was convinced by the statements. Feeling that justice had not been done, the landlord did go for appeal both in the Court of Appeal and the Victorian Supreme Court. The two courts did reject the conclusions by the tribunal. The courts held that statements made were neither a collateral contract nor promissory estoppel meaning that it was void and cannot bind somebody in the court of law. Various courts could also allow the appeal and dismiss the so-called the cross-sectional appeal. Three rulings by three separate courts did uphold that there was no collateral contract in the case (Knowler, 2011). The statement that by the crown that the tenants would be looked after during renewal according to the courts never amounted to an agreement and a binding relationship. The statements did not have the quality required to the case in the court and claim for damages (Schwartz and Scott, 2003. In essence, the courts did indicate that there was no clear obligation on the side of the owner in renewing the lease. The terms that were used were not clear and lacked legal obligations at all. What this implies, is that even though someone could truly depend on certain statements to take a certain action, the bottom-line is that it must be clear and if possible put in writing. The concept could be wrongly used and for an exploitative reason for those who may think they are in a collat eral contract while they are not. In the case, the court did maintain that for Estoppel to work there must be a clear representation of facts, precise and free from any ambiguity (Macdonald et al. 2014). The estoppel must make sense to the person it is addressed to so that a one does not act based on assumptions which are detrimental. The phrase that confused the whole case is that the "tenants would be looked after the lease. "Legally speaking, that does not indicate the renewal of the lease," the court argued. It is this statement that the Hotel assumed to mean that they will get a renewal. Consider the case of Bertin Italian Restaurant v Garland Properties Pty Ltd. There is no collateral contract. Perhaps, one could argue that there is an estoppel but going as per the precedent case; there is no promissory estoppel either. These are two related cases with the same background. Bertin did rely on the statement from the landlord that they will consider renewing the lease if the refurbishment could be completed the expected before the major Melbourne Expo. Actually, this phrase is similar to the one in the precedent case was used, he will be looked after at the renewal time. This case, if someone relies on the previous one that had been decided, would conclude that it does not meet the threshold of being considered a collateral contract (Graw, 2015). It is ambiguous in nature. Someone cannot explain what it means by the statement that, the tenants will be looked after. This statement could be interpreted and give different meanings (Guenter, 2003). For example, the stateme nt could be used to mean that the owner will organize for the hotel to get another place or even make some little compensation because of the drastic measure that may be taken. In this case, there is no clear ground to argue for collateral contract and promissory estoppel. The implication of this, therefore, is that Bertin will not succeed in a court of law in claiming any damages he feels have been caused to him (Knowler, 2011). He will have to prove what the statements by the landlord meant to qualify for a remedy. This is because he did rely on the information that was not clear. The court cannot make a ruling based on the assumptions. It, therefore, stands that Bertin he only speculated about the intention of the other part (Radin, 2012, Robertson, 2005, Roy, 2007 and Sirko, 2011). Since the collateral contract does not exist, it means that the landlord can continue with other businesses and look for other tenants whom he can negotiate better deals. In general, as pertains to this case, Bertin is not by any means in a collateral contract. A collateral contract must be made by two original parties or any other third part. For a relationship to qualify to be a collateral contract, it must have clear terms outside the original ones; it must demonstrate evidence why it is formed, and it must show how it is complementing on the original contract (Morgan, 2015). The contract is normally alongside the main contract, and it is not something that should be guessed but something the two parties must be aware off (Buckley, 2005, David, 1996, Jack and Daniel, 1997, Woodroffe and Lowe, 2013). Also, for a promissory estoppel to qualify in a court of law, it must have the following five elements: First and foremost, there is must be a contractual relationship. Parties were planning to enter into a contractual relationship also may apply the principle to help ensure that a promise can be fulfilled if the requirements have not been satisfied (Knowler, 2011). The intention here is to ensure that a contract has been entered into even though the exact rules of forming a contract have not been followed. Two, the promissory estoppel must also act as a representation or a promise by one party to the contract (Morgan, 2015). In the past, estoppels could be used to make a representation on the existing contract only. However, after the ruling of the case on Waltons Stores (Interstate) Ltd v Maher (1988) 164 CLR 387, it could be used to refer to the conduct in a contract and the expected contractual obligations. It, therefore, means that a promissory estoppel is given in a situation where a promise is made under certain conditions that will cause the other party to assume that the promi se will be fulfilled. Third, the party relying on the information given as a promise must suffer detriment to qualify for any damage. Fourth, it should be confirmed that the party that was given a promise did suffer some detriment and one he/she is in some mess. Finally, there is nothing that binds one from breaking the promise made earlier. Before an action can be taken, it must be surely be demonstrated that it is fair and just (Doris, M 2014). After clearly highlighting these elements, it is now clear that Bertin did not engage the landlord in determining what his statements meant instead of assuming and acting on the assumptions. Once the statements made can be interpreted in different ways, then it becomes very difficult for the court to determine if for real there existed an estoppels (Morgan, 2015). From the facts of the case, the remedy for Bertin could be found in the Competition and Consumer Act 2010(cth). The Act clarifies on the need to present the facts as they are so that the other party can enter into a contractual relationship. If the plaintiff feels that he was offended and he can seek further address, the Act can be invoked to determine whether the facts were genuine presentations under the common law and if there could be any statutory measures. The Act also prohibits individuals from conducting themselves in a way that is deceiving, and that can mislead someone. Representations according to the Australian Law are based on pre-contractual terms. In some cases, not all statements amount to promissory and therefore cannot be used as a basis for entering into contractual relationships. However, what is more, important and that is anchored in the Australian law, statements that may prove to be false, then the party to whom they were directed at stands to get remedies under the common law or even under the statute (Terry Giugni, 2009. In this case, the common law will hold that the contract was entered into because one party gave false information to induce the other to enter into the contract. If falsehood is established in this case, then Bertin can ask for remedies. In section 18 of the Australian Consumer Law, different remedies misleading conduct, are provided. Taking the case of Shepperd v The Council of the Municipality of Ryde (1952) 85 CLR 1, High Court of Australia, could help explain how a collateral contract can be formed and how the plaintiff can succeed in a case. This scena rio was between the Shepperd and The Council Municipality of Ryde. Shepperd who is the plaintiff, in this case, did purchase a house from the defendant, the Council Municipality. During the contract information, the buyer was informed by the seller that the land directly opposite was to be a park. To confirm the same, the plaintiff did request for the municipal plans and brochures. After just one year, the defendant decided to subdivide the land into two small portions. The action did force the plaintiff to go to court to get an injunction stopping the same. The council plan was a good proof of a collateral contract, the court held. It was the intention of the two parties to rely on the plans to verify the facts. After looking at the plan, the court held that the contract was in order and that plaintiff was right in requesting for orders to stop the dividing the land because that was part of the agreement. Based on this case, therefore, it is confirmed that Bertin has very slim chan ces of getting any remedies from the defendant (Stephenson, 2014). It could have been easier for him if he had some evidence or confirmation that the defendant did promise to do something and that they were in a collateral kind of relationship. Garland Collateral contract, promissory estoppel, and remedies The law provides that for any remedy to be given, one party must suffer a loss or damage because of the other party failing to perform his or her obligation (Morgan, 2015). In this case, Garland was the owner of the premises, and he is the one who gave the notice to terminate the tenancy relationship with Bertin. To start with, Garland has not suffered any loss. Instead he did gain from the refurbishment that was done by Bertini. He did give an indication that if the refurbishment was done to the expected standards; Bertin could be looked after at renewal time. Further, the representatives of the defendant also did comment that the refurbishment was to make the restaurant building meet the minimum standards of the other complexes around. It is these two statements that made the tenant positive about having his lease renewed after five years and went ahead to do the refurbishment. However, this did not happen. Six months to the end of the five-year contract, he did give notice to Bertin asking him to plan to vacate the premise at the end of the contract. Ideally, based on these findings from the case, it is the conduct that was bringing the contractual relationship to an end willingly. However, what could not be established in just common terms is what the landlord meant when he said that Bert in will be looked after at the renewal time." It is this statement that will subject him to the court to elaborate what the statement. This is because he will be required to explain what his statements mean. The tussle for Garland will be to proof to the court that there was no mischief to have the tenant refurbish the house on his behalf. The tenant did incur that expenditure because he was expectant that he would recover the cost from the proceedings of ten years. However, this never happened. The Australian law does prohibit the misrepresentation of facts with the intention of inducing someone to enter into what is considered a contractual obligation that cannot bind. Referring to the case of Crown Melbourne Ltd v Cosmopolitan Hotel (Vic) Pty Ltd, the Garland is likely to be subjected to court proceedings to prove his contractual relationship with the tenant. Depending on what perspective the court will look at the case, the defendant must provide factual information to convince the court that he did not mean harm with his statements. Looking at the example case, the Victorian Civil and Administrative Tribunal did rule for the complainant. It did maintain that since Crown had indicate d that it would look after the tenants at the renewal of the contract, was satisfactorily prove that he was going to renew the contract (Stephenson, 2014). Surprising this was never the case after Cosmopolitan had invested heavily in the repairs of the two houses. The Tribunal was convinced that conduct of the defendant informed the plaintiff decision and as such, they were entering a contractual relationship. To add to this, two judges, Gageler and Gordon separately did make judgments which held that appeal cases could have been dismissed and the complainant plea upheld. The judges did reaffirm that the conduct of Crown amounted to collateral contract and they did that four main steps. First, the statement itself was promissory because it was meant to show that the landlord will renew the tenancy agreement. Second, the statement was relied on as demonstrated by the delivering of the leases by the tenants after the promises had been made. Third, the collateral contract could go hand in hand with leases, and nothing was inconsistent. Finally, the collateral contract was genuine (Latimer, 2015). The conduct of the defendant was an offer to make an agreement, and there was no reason could decline it. In general, the conclusion was that even the ruling had been made, a collateral contract was present, and that was informed by various contract principles of representation of facts and fulfilling obligations. The promissory estoppel is a principle that is aimed at ensuring equity. It is from this perspective that the Australian law upholds the need to have regard to facts as they transpire (Avtar, 2008, DiMatteo, 1998 and Khoury Yamouni, 2010). It principally seeks to create a background for negotiation and give rise to the binding effect to the promises. Under the common law, the estoppel was intended to give rise to certain measures that could be used stop what could otherwise be considered obvious conflicts. Where such principle is properly applied, such liabilities that are considered obvious will be acquainted (Stephenson, 2014). Because of equity and fairness, it will be court subject to clear the conduct of Garland. In pre-contractual statements, sometimes it is difficult to classify some statements whether oral or written that have been made available before entering into a contract (Bacon, 2001, Dan, 2008, Poole, 2016 and Schwartz and Robert, 2010). For example, in the case of a buying desktop computer from the market, one party may be induced to buy a second-hand machine after being informed that it had only been used by one buyer previously. You could also be induced to buy because of the year it was manufactured. In some cases, such statements turn out to be false. But the question one could ask is, did they prompt one to enter into some contractual relationships? This gives to contractual breach because of misrepresentations which may lead to agreements with no remedies or have no consequence for failing to fulfill the promise (Ben-Shahar and Bernstein, 2000). In general, Garland will only be required to clarify his statements and if they were intended to Bertin. This is an important step that will determine if Bertin can qualify for any remedy. Conclusion This analysis has critically analyzed the case of Bertini Italian Restaurant vs Garland Properties Pty Ltd with particular reference to Australian commercial and contract laws. The specific concepts that have been considered in the discussion include collateral contract, promissory estoppels. After referring to the preceding cases and other contract law principles, it has been established a contractual relationship that arises from a given promise, can only bear remedies if they are clear, precise and unambiguous. Based on this, therefore, giving of unclear statements by the defendant is likely to make the contractual relationship non-consequential or not binding. A contractual and binding relationship must have a genuine promissory estoppel and collateral contract. In general, the analysis has established that the concepts of collateral contract and promissory estoppel provide solutions to issues considered obvious in a contractual relationship. However, the terms of applying these terms are not clear and as such parties do not use them even when they could be using them to address simple problems in the contracts. Based on the facts provided in the case and what the law provides, the following are the remedies for each of the party to the case: For Bertin to get any remedy, he must proof to the court that the statement by the defendant actually was an estoppels. Garland will also have to convince the court that he did not mean collateral contract when he said that, Bertin will be look at during the agreement renewal. Based on the cases of the same nature and that have been decided, the remedies will be given based on the facts presented and the arguments of each party. Finally, the analysis has a given a challenge to the enterprises of today in regard to entering into contractual relationship. Before relying on what is presumed to be an estoppel, one must seek further clarification, otherwise one may act where there is no actual relationship. In that case the re will be no remedy even there was damage. References Avtar, S 2008, Contract and Specific Relief Act, 10th ed, Eastern Book Company, Lucknow. Bacon, LAD 2001, "Freedom Of" or "Freedom from"? The Enforceability of Contracts and the Integrity of the LLC, Law Journal, Vol. 50, No. 4. Ben-Shahar, O and Bernstein L 2000, The Secrecy Interest in Contract Law, The Yale Law Journal, Vol. 109, No. 8 Buckley, FH 2005, Just Exchange: A Theory of Contracts, Routledge Carter, J. W, 2013, Contract law in Australia, 6th ed, LexisNexis Butterworths Carter, JW 2011, Carters guide to Australian contract law. 2nd ed. Chatswood, N.S.W.: LexisNexis Butterworths Carroll, J 2016, Crown Melbourne Ltd. v. Cosmopolitan Hotel (Vic) Pty Ltd. Australian Law Journal, Aug2016, Vol. 90 Issue 8, p770-819, 50p, Legal Source Dan, J B 2008, Svantesson, Codyfing Australias Contract Law Time for a Stocktake in the Common Law Factory,' Bond Law Review 20(2) 1-10. David, SW 1996, Binding Promises: The Late 20th Century Reformation of Contract Law, Princeton University Press. DiMatteo, LA 1998, Contract Theory: The Evolution of Contractual Intent; Michigan State University Press Doris, M 2014, Promising options, dead ends and the reform of Australian contract law Legal Studies, Vol. 34 Issue 1, p24-46. 23p Gibson, A Fraser D 2014, Business Law 2014. 8th ed. Frenchs Forest, NSW: Pearson Australia Graw, S 2015, An introduction to the law of contract. 8th ed. Pyrmont, N.S.W.: Thomson Reuters (Professional) Australia. Green, C 2014, Clever collateral, NZ Business Journal, Vol. 28 Issue 9, p54-55. 2p, Informit Humanities Social Sciences Collection Guenter, T 2003, The Law of Contract, 11th ed., Thomson Sweet and Maxwell, London Hugh, C 1996, Regulating Contracts, Oxford University Press Jack, EB and Daniel E 1997, Good Faith and Fault in Contract Law, Friedmann Clarendon Press, 1997 Khoury, D Yamouni, YS 2010, Understanding contract law. 8th ed. Chatswood, N.S.W.: LexisNexis Butterworths Kidd, J 1990, Promissory estoppel in Australian contract law: the significance of the Waltons Stores decision, Business Law Review (UK), Vol. 11 Issue 2, p52.; Aspen Publishers, General OneFile Knowler, J 2011, Implied terms in Australian contract law: A reappraisal after University Of Western, Australia V Gray, Monash University Law Review, Australia Latimer, P 2015, Australian business law, 34th edition. Sydney, NSW: CCH Australia Macdonald, E, Koffman, L and Atkins, R 2014, Koffman Macdonalds law of contract. Eighth edition. Oxford, United Kingdom: Oxford University Press. McKendrick, E 2015, Contract law. Eleventh edition. Basingstoke: Palgrave, an imprint of Macmillan Publishers. Morgan, J 2015 Great debates in contract law. Second edition. Basingstoke: Palgrave Macmillan. Poole, J 2014, Casebook on Contract law. 12th edition. Oxford: Oxford University Press. Poole, J 2016, Textbook on Contract law. Thirteenth edition. Oxford: Oxford University Press. Radin, MJ 2012, Boilerplate: The Fine Print, Vanishing Rights, and the Rule of Law, Princeton University Press Robertson, A 2005, The Limits of Voluntariness in Contract, Melbourne University Law Review, Vol. 29, No. 1 Roy, K 2007, Calculating Promises: The Emergence of Modern American Contract Doctrine Stanford University Press Schwartz, A and Robert E 2010, Contract Interpretation Redux, The Yale Law Journal, Vol. 119, No. 5 Schwartz, A and Scott, RE 2003, Contract Theory and the Limits of Contract Law, The Yale Law Journal, Vol. 113, No. 3 Sirko, H 2011, 'Problems in interpreting the unfair contract terms Australian Bar Review, 34 (14) 206-319 Stephenson, G 2014, Core statutes on contract, tort and restitution 2014-15. Basingstoke: Palgrave Macmillan. Terry, A Giugni, D 2009, Business and the Law. 5th ed. South Melbourne, Vic: Cengage Learning Australia Woodroffe, GF and Lowe, R 2013, Woodroffe Lowes consumer law and practice. 9th edition. London: Sweet Maxwell. Young, P 2016, Promissory estoppel -- Laws, regulations and rules, Australian Law Journal. Vol. 90 Issue 12, p878; LBC Information Services

Motivation and Banking

Introduction Motivation can broadly be described as the driving inner or outer force through which we achieve various desired life goals. It is either intrinsic or extrinsic. Intrinsic motivation refers to the driving inner force mostly associated with enjoyment, high educational achievements. Extrinsic motivation, on the other hand, relates to a driving external force in one’s life to achieve desired goals and objectives.Advertising We will write a custom essay sample on Motivation and Banking specifically for you for only $16.05 $11/page Learn More Such motivations include can be looked at as rewards for efforts implemented to achieve something. The rewards may be in the form of money for a task accomplished, grades attained in a school setting, coercion and the threat of punishment because of indulgence in a situation (Lee, 78). For instance, his parents may tell a student that he will not be catered for in basic and essential needs failure to achieve a certain grade. Motivation additionally and in accordance to various motivation theories can be defined as a need to minimize physical pain or suffering and maximize pleasure. Discussion The respondents as illustrate were in the range of 17 years and 24 and above years. It’s evident that most the respondent’s stay in Australia is not too long. For instance, for most female its in the range of 7 months to one year. For most male, it’s between below three months and four to six months. On a survey on the major reason for finding a job being the salary as the motivating factor, most male were indifferent on the issue while most of the women were of the opinion that it’s the chief reason as to why people find a job. On the issue of whether most people love the job more than the salary, most male were observed to agree with the statement. The female were quite indifferent in agreeing with statement and some were undecided. Most men agreed that they st udy more courses for the higher salary. A good number of females were also in agreement with that notion. Freedom is very essential while performing one’s work as shown in the survey as most respondents agreed that they require their own freedom to perform their work duties. As to whether the job performed suits who you are, most female agreed with that notion while quite a good number of men also agreed with the same. Its thus evident that the job performed actually suits who we are. A mixed reaction was obtained on to whether people should work harder with increased incentives. Most were in the range of undecided and those who agreed with such sentiments. As to whether one should travel to many places with the job that interests you a mixed reaction was also obtained with some strongly agreeing and others were actually undecided.Advertising Looking for essay on psychology? Let's see if we can help you! Get your first paper with 15% OFF Learn More With regard t o the survey done on the banking operations and the impact of technology on the banking sector, this has influenced banks to adopt it to have a competitive edge in serving their loyal customers. Information technology has brought in greater convenience, effectiveness and efficiency and can to offer more banking products to customers in the banking sector. For instance, banks offer Automated Teller Machines (ATMS), EFTPOST, telephone banking and internet banking which are modern and convenient modes of faster banking. The banks highly recommend and encourage their customers to use the telephone and or internet banking, as opposed to the earlier branch based visit services. The extension of the internet banking services goes along with the customer perception, acceptance and the satisfaction derived from the use of such services. The internet banking transaction services was introduced in the 1980’s and has seen profuse growth and is highly expected to see more growth with the development of more technological innovations. This is as was denoted by Peterson in 2006. A survey conducted consisting of sixty shoppers in Glenferrie Road, Hawthorn in 2006 focused on the banking services used by customers, the population that uses and that which does not use the e-banking services. Also, the consumer behavior as to the possible reasons why customers decide on the appropriate mode of banking transaction was looked into. Out of 60 respondents, 34 were men and 26 were women. Income wise, it was shown that the majority of people earned below $1500 per week in the age bracket of 18 to 40 years. A portion of those who were 40 years and above earned between $3000 and $ 5000 per month. Most people interviewed held savings account. Non-internet banking services users consisted of 14%, and were less likely to hold a cheque account compared to e-bank users who consisted of 33%. The access of banking services through the branch consisted of 83% of the respondents. The commo n mode of accessing banking services was by use of the Automated Teller Machines and EFTPOST. The survey showed that ATMS were often used 60% of the population used in the survey, 37% of the respondents used EFTPOST, 7% never used ATMS and 25% never used EFTPOST. Telephone and internet banking were not intensively used. Recommendations It’s most evident that most people really value investing in themselves through work with the major goal and expectation of a motivating factor reward in the form of monetary terms. Conducive measures therefore to practice people’s hard earned skills on the job needs to be put in place to encourage them to work even much harder. Since its evident that study of more courses goes in line with higher salaries, such different courses should be well laid emphasis on and mentorship on the same should be highly encouraged.Advertising We will write a custom essay sample on Motivation and Banking specifically for you for only $16.0 5 $11/page Learn More People should be encouraged to work hard for what they really believe in and actually dream to achieve in their future as most jobs suit who they are. As most people would go greater lengths in terms of achieving their dreams of the work they desire most, they should be widely encouraged to follow their dreams even if it would mean travelling a lot. The basic reason for using the banking services as shown by most people is to gaining access to cash used for different transactional purposes. The second most reason is making of deposits through the cheque or cash. A few used the banking services to check for their bank balances (Lee, 103). The main advantage of the telephone and internet use of banking services is that they do not require the physical appearance of the person concerned (Gkoutzinis, 243). Additionally, the modes do not require the use of cards to identify with the person, but rely solely on electronic transmission of identification of access codes and numbers or appropriate passwords. The major reason for use of e-banking as portrayed by a number of respondents was due to time-saving mechanism, convenience, full time availability and cost effective. This is because the e-banking services can be accessed majorly from home, the work place, and even the study place. The reasons as to why some people do not use the internet banking services includes the ignorance that people may have on the use and access of the e-banking services. Also, some quote of security reasons due to the increasing number of hackers and robberies. Nevertheless, some thought it very useful to learn on the use of the e-banking banking services. Lack of adequate information on the use of the e-banking services was a major reason as to why some people did not use these services. E-banking permits the full access to account balances, funds transfers between accounts and account payments. The accessibility to the bank account are varied from dif ferent customers for instance some have daily access depending on their needs, while others on a monthly basis. Those who frequently use the bank services have a favor in using the e-banking services. Most of e-bank uses, in fact, have more than one account. The income levels of different bank service users determine the account that they operate. The high-income earners for instance use the e-banking facility frequently since they have numerous transactions and e-banking have an ideal convenient platform for this. There is a great desire for more information as postulated by the non e-banking users.Advertising Looking for essay on psychology? Let's see if we can help you! Get your first paper with 15% OFF Learn More Conclusion Therefore it’s the duty of institutions, mentors, parents from the grass root level to nurture their kids in the manner so desired so that they can grow in an all rounded manner. People should also strive to achieve that which they believe in. Also, superb working conditions should be put in place to allow for people to work in conducive conditions which will support their lives. The banks hence have a role to educate the bank services users on the importance of the use of the internet banking. In conclusion, it is apparent that the banking services have changed greatly in the recent years and customers have resulted to the use of ATMS and EFTPOST, telephone banking and internet banking. The gender is highly insignificant in the determination of the account to be used by individuals. It is also evident that high-income earners are likely to adopt the use of telephone banking and internet banking with a lower usage by the lower-income earners. Banks, therefore, have a duty to promote their e-banking services and enlighten their customers on their major importance. Cited work Gkoutzinis, Apostolos Ath. Internet banking and the law in Europe: regulation, financial integration and electronic commerce. Cambridge [u. a.: Cambridge Univ. Press, 2006. Print. Lee, In. E-business innovation and process management . Hershey, PA: CyberTech Pub., 2007. Print. This essay on Motivation and Banking was written and submitted by user Brianna Snyder to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Hawaii essays

Hawaii essays MOTTO: Ua mau ke ea o ka aina i ka pono (The Life of the Land is Perpetuated in Righteousness) Located in the Pacific Ocean, Hawaii consists of eight major islands. They are Hawaii, Maui, Oahu, Kauai, Molokai, Lanai, Niihau, and Kahoolawe. Honolulu, which is in Oahu, is Hawaiis capital and largest community. Hawaii entered the Union on August 21, 1959, as the 50th state. Hawaiis economy was long dominated by plantation agriculture and military spending. As agriculture has declined in importance, the economy has diversified to encompass a large tourist business and a growing manufacturing industry. Hawaii is known as the Aloha State; aloha is a word used both for greeting and farewell in the Hawaiian language. The eight main Hawaiian islands comprise the tops of several shield volcanoes (those that are formed from quiet lava flows rather than explosion), which rise from the floor of the Pacific Ocean. The largest island, Hawaii, is formed from five volcanoes. Only two of them are active. Maui is made up of two shield volcanoes and a central plain. Oahu has two heavily eroded volcanoes which form two mountain ranges. Between the two mountain ranges lies a central plateau on which sugar cane and pineapple are planted. Prominent features of Oahus landscape are Diamond Head and Punchbowl. Kauai has steep sea cliffs as well as a number of inland canyons. Molokai comprises a plateau in the west and rugged mountains in the east. Hawaii has a tropical climate moderated by oceanic influences and prevailing northeasterly tradewinds. Temperatures vary little from place to place except with elevation. The average annual temperature of about 75 degrees varies little between summer and winter According to the 1990 census, Hawaii had 1,108,229 inhabitants, an increase of over 14.9% over 1980. The 1995 estimated population is 1,221,000. The aver ...

Managing Finance and Information Essay Example | Topics and Well Written Essays - 1750 words

Managing Finance and Information - Essay Example In this manner, the knowledge base is transformed through the systems logical process modeling, which allows for data applications to be interoperable and interchangeable through the enterprise in a secure manner. The transformation process involves strategic security levels. This focuses on the logic linkages of data packets, for example, linking the engineering intellectual capital of suppliers to transform into composite information for product development. The transformation process is incremental to ensure that data maintains integrity and is validated throughout the process, with the goal of removing inconsistencies and promoting the business model. Data outputs are organized based on system uses information already maintained by the company; however, the information requires a different method of storage and access. The data integrity validation system may require additional storage space to allow for the real-time job proofing that is an integral part of the system. The intellectual property received, transformed, and administered to the end user have increased dependence on electronic transmission of order information and therefore demand a greater degree of redundancy regarding the output infrastructure. Monetary value fluctuates with the type of intellectual property or research data received, the transformation i... locally obtain necessary information using accessible physical devices (hardware) that process particular data (retained in a database) via a certain set of instructions (software). All successful information systems must connect and direct people, processes, data, hardware, and software towards a desired goal. The IM project tools such as work process maps, internal project reviews, focused client expectation and satisfaction surveys, and Jacobs Value Enhancing Practices to both deliver successful, repeatable results, and to create new opportunities for innovation and enhanced value Delivery Throughout The Input-Output Cycle The success of both the IM department and the ontology of the systems systems depend on the integrity of the data that forms the foundation for each system. A database stores a collection of files containing various pieces of information or data that are interrelated in some fashion. It can also not be stated that any one source of data has a greater value than another, or than the transformation of the data, or the output to clientele. However, a lack of validity, integrity or security in any input-transformation-output cycle could cost Jacobs Engineering millions, if not billions, of dollars in lost, stolen, or corrupt data. Therefore, while there cannot be a specific monetary value attached to the data cycle, there is a strong amount of financial risk involved with loss of information in the data cycle. The Budgets table shows the estimated cost of relative data control needs. The IM value is not monetary based, but without the succinct capabilities there would be a significant gap in the functional ability of Jacobs Engineering to work in the global information technology environment. The value of IM is therefore not based on the traditional

Safe Guarding Sensitive Database Assignment Example | Topics and Well Written Essays - 500 words

Safe Guarding Sensitive Database - Assignment Example For Vista, choose Start, Search, click the down arrow on the right side of Advanced Search, then select Date modified in the Date drop-down menu which is on the left. Here, you then look for any recently created, altered or renamed files. If you find what you are looking for, to be safe, save it in at least two different storage devices. b) -Â  Identity proofing, registration and credential delivery which bind an identity to a token. Depending on the level of assurance necessary for the system, this process is done either remotely or in person. It includes: Remote authentication mechanisms: This is the combination of authentication protocols credentials and tokens which are used in establishing the subscription of the claimant’s authenticity as a subscriber. Assertion mechanisms: This is used to communicate remote authentication results to other parties. They are issued by verifiers pertaining to claimants as a result of a successful authentication, and they are either signed in a digital way by their issuers or by direct way of obtaining, by presenting parties from a trustworthy party through a protocol with secure authentication. They would not be the same for a bank versus a school since in a bank, the authentication protocols present a way a claimant can establish the token control to a verifier without compromise but with a school, such high level of security is not required since they don’t run a high-risk business. They do not hold highly sensitive documents as it is with a bank (Williams & Simoff, 2006). a) Age, gender/sex and socio-economic status: In analyzing the audience, I will first determine the primary age group and gender of your audience, audience’s race and/or cultural background, my audience location in terms of their country/state/city, their education level, socio-economic status and religion. b) What I believe I can do as a speaker to respond to the audience’s listening goals is focusing on what they are interested in since it is a common thing to see.

Find appropriate title Essay Example | Topics and Well Written Essays - 1500 words - 1

Find appropriate title - Essay Example related to the way work was distributed, planning and organising work, types of skills possessed by employees, measuring and rewarding performance, standardization of best suitable methods of working and defining the role of each employee, group, function and/or unit. Subsequently, the Managerial Grid was proposed by Blake and Mouton (1964/1971) in which the interplay of three organisational universals, i.e. people, production and hierarchy, is studied through a grid depicting different ways how managers are concerned about production and people and their impact on each other. A transition of management perception towards human relations begun with Hawthorne studies conducted by Elton Mayo, which proved that variations in external environment impacted performance of the workers; variations in pay in the form of performance incentives motivated workers to perform better; increased social interactions that occurred between work motivated workers in turn leading to higher productivity (Dixon, 2003). These theories and others explain how different perspectives, i.e. planning and organising work, organisational structure and systems, and human relations, have an impact on effective management, contrary to my approach which has more often been authorit ative and less inclined towards human relations. The most essential requirement for effective management is ‘leadership.’ For a manager to be successful he/she should exemplify qualities of a leader; however, a person may not be in a managerial position to emerge as a leader. Hence, leadership qualities such as the ability to influence, create a vision, and ability for doing the right things help a manager to become more effective. For instance, Tripathi (2008) sums up leadership as characterized by existence of followers; involving a community of interests between leader and the followers; unequal distribution of authority; and guiding followers towards the right direction. However, management focuses on

Analyse The Hotel Industry In Uk Tourism Essay

Analyse The Hotel Industry In Uk Tourism Essay It is very important that in todays competitive environment, (both in terms of business and employability) one has a clear understanding and sufficient knowledge of the sector or industry in which they would be operating. This report will be looking at, and analysing the Hotel industry in the United Kingdom, examining industrys micro and macro environment. Its purpose is to examine the industry with intention to gather market intelligence that would support prospective managerial development, career aspirations and prepare them for sufficiently informed participation at interviews. Findings from the report should therefore, enhance their business knowledge and employability prospects in the industry. The report will focus on the last five years which have in fact seen the industry at its best and at its worst in just a few years. A number of different data sources would be utilised such as industry reports, news paper articles and various websites related to the industry. INDUSTRY ANALYSIS Industry overview The hotel industry and tourism in general is one of the worlds main growth industries worth trillions of ponds globally. According to a key note report (2009) the hotel industry in the United Kingdome grew by 29.1% in four years to 2008, reaching a staggering  £15.87 billion. This growth was attributed to a number of factors, such as the high disposable income available to people, introduction of low cost airlines and the rapid expansion of budget hotel sector. With hotels that opened up to a wide range of customers combined with cheap flights and high disposable income people could have more than one holiday a year. This in turn benefited the hotel industry as a whole from both foreign and domestic tourists. This vibrant growth, however, has seen a change in its fortunes in the last two years, due to a number of factors but mainly the economical downturn. In 2008 global economy took a turn for the worst and the problem deepened in 2009, leading to recession in most developed economies and UK was no exception. This had an immediate impact on holiday purchasing with research suggesting that a significant proportion of adults thinking of saving money by having a domestic holiday in 2009, while 25% of them were worried they could not afford a holiday at all (KeyNote 10). This has led to many hotels adapting to the situation by reducing prices or offering lucrative promotional deals to meet the market expectations and improve sales. The hotel industry could be divided into two sectors, corporate and consumer both providing services to meet their particular clients needs. The first one includes accommodations paid by businesses, for business travel purposes and the latter is paid by consumers for non-business reasons. A grading scale based on a star system is used to classify the quality and range of service provided by the company. The grading is comprised of 1-5 stars, where one star represents simple accommodation with no thrills attached and five stars represent exceptional quality of service with some degree of luxury. In some situations Silver or Gold may be added to Hotels that exceed the requirements under the star system. It is estimated that 1 one in every 10 people in the UK is employed in the Hospitality industry, in other words over 1.96 million (2007) people working in around 300,000 establishments across the country. Overall employment in this industry grew by 5% in 2007 but the Hotel sector had the lowest growth with only 2.7% adding another 6,500 jobs to the existing 238,500 jobs that existed in the previous year (Table 1.2). Major cities accounts for the highest concentration of hotels in the UK and are thought to attract the highest level of tourism activity with London leading the way. Market size trends During the economic boom of the late 90s and early part of this decade the Hotel Industry has expanded rapidly benefiting from a number of factors mainly related to economic growth an improved technology. The increasing globalisation of a lot of companies necessitated more corporate travel and accommodation. Being the financial centre of Europe and to some extent the world, London benefited a great deal from this rich consumer source. A lot of hotel groups responded to this by investing on their brands, positioning their portfolios to more upscale four/five star properties. In addition, the budget hotel sector was developed to suit a wider range of consumers as well as businesses. All was made even easier for consumers by the development of the internet. This allowed easy comparison in terms of price and guest facilities on offer, as well as a more convenient way to book them. Internet is now thriving with 34,104,175 or 57.2% of population having access to it in the UK spending an av erage of ten hours a month online (www.theanswerbank). In spite of the healthy growth experienced in the last two decades and the excitement of the coming Olympic Games London 2012, the industry has in 2009 suffered a setback. This was due to the recession that affected almost every developed or developing economy in the world. In the first quarter of 2009, the UK saw a fall in visits by one million, although statistics show that spending remained relatively the same as the corresponding time of the preceding year (table1.1). This could be accredited to the weaker pound which slummed at record lows both against the Euro and American Dollar at 75.86p to the Euro and $ 1.375 (bbc.co.uk). In 2008 there were 31.9 million visits in the UK producing on average  £512 of spending each, generating over  £16.3 billion of revenue for the economy. This however is considerably smaller than the spending generated by the internal visits of UK residents which marked  £21.1 billion for the same period, though slightly down from the previous year. The total spending generated by both UK and Overseas visits for 2008 was just above  £37.4 billion, 0.4% higher than 2007 (table 1.1). Hotel industry takes just above 42% of this wealth, in other words  £15.87 billion. During the peak of recession there was a significant increase on short-term holidays taken domestically. Though, as the economy comes out of recession domestic holidays are predicted to fall by 7.7% with a similar decline on value between 2009 and 2013. Holidays abroad on the other hand are forecasted to increase by over 16% between those years. (KeyNote) According to government data turnover in the hotel market gradually increased on average by 6.6% between 2004 and 2008. Key Note forecasted a 6.8% (appendix 4) decrease in total revenue for the following year but expects an upward trend from 2010, peaking in 2013 to 4.8% or 16.99 billion in total. Room occupancy which is a key indicator to measure the amount of business carried out by hotels was at 76% in 2007 according to VisitBritain but decreased in the following two years to 68% in 2009. Economic trends In the last five years the UK economy has seen some of its best and worst days. After the healthy growth that the economy had enjoyed in the early part of the decade came the downturn that succeeded in the second half of it. As a result of the global credit squeeze, 2007-09 proved to be a bumpy ride for the economy, enforcing banks to take a tougher line on lending. This caused a sharp fall in consumer spending, with unpleasant consequences for most industries. In 2005 research showed that productivity growth had slumped and business investment was at a record low, consequently the British economy was growing at a rate slower than the average growth for other developed economies, falling well short of chancellors budget prediction. Table 1.4 shows the GDP performance in the last five years to 2008. It is evident that GDP plunged in 2008 to only 0.7 and performing at its worse in the 3rd quarter of 2008 when the economy fell into a recession registering a -6% drop (nationalstatistics.co.uk). GDP started to recover late in the 4th quarter of 2009 when it was just under stagnation point and first signs of getting out of recession appearing in the first quarter of 2010. According to national statistics growth in the first quarter of this year register a 0.2% increase. The same source suggests that during the same quarter distribution, hotels and restaurants fell by 0.7% compared with an increase of 1.9 per cent in the previous quarter. Appendix 1 shows how this recession compares to the previous two in the 80s and 90s. It appears that last recession was the hardest of the three but seems to be the shortest of the three. High energy prices in the world markets (highest being $136.24 a barrel, 2008, appendix 2), forced inflation rates rise to record heights in September 2008 to 5.2% well above the Bank of Englands target of 2%. This increase forced the Bank to raise interest rates three times since summer 2006 with highest being in July 07 at 5.75% (BBC, 29/11/07). Although, this spike in inflation became less of e concern for the Governor as recession was deemed the major threat to the economy. This then led the Bank England to repeatedly lower interest rates reaching its lowest point at 0.5% in March 09 and hoping for the inflation to melt away. In fact that is exactly what happened with inflation rates falling to 1.1% in September 2009, the lowest since 2004. (thisismoney.co.uk) Increase in fuel prices is bound to raise travel costs for millions of people. High fuel prices, rise in interest rates and inflation followed with the credit squeeze effects are also leaving people with less disposable income. This is having a negative effect on consumer spending as it is getting difficult for consumers to keep up with credit payments (credit cards/mortgages/loans). Therefore, loss in consumer confidence may result in less spending on holidays consequently impacting on industry profitability. Competition According to National Statistics there are 10,195 hotels in the country and the majority of those establishments generate less than  £1 million annual turnover (appendix 5). This has not stopped competition in the industry intensifying in recent years, narrowing the gap between budget and midmarket hotels. However, its still the large chains/midmarket hotels that win the marketing battle by spending large sums on brand building. This has become a very important feature and most hotels are now seeking to develop stronger identity that would target both consumer and corporate sectors more effectively. Among others, Premier in was one of the largest spenders on media advertising in 2009, spending over  £5.5 millions on promotional activities followed by Travel Lodge who spent just under  £3 million. In addition to this the large chains have focused on seasonal offers and lowering their prices. For example, in autumn 2009 Travel Lodge lunched room sales for the next spring, offering rooms for as low as  £12 a night. Also these midmarket establishments have more flexibility to offer packages or meals to attract a larger, more price conscious market. Low budget hotels on the other hand have responded to this by providing more facilities and services than before as well as including more offers on their websites. Table 1.8 shows some of the major players in the United Kingdome and their relative annual turnover. InterContinental Hotels Group PLC seems to lead the way with close to  £2 billion annual turnover from which  £302 million were pre-tax profit. The company has a number of brands under its umbrella such as Crowne Plaza, Hotel Indigo, Holiday Inn, Express by Holiday Inn, Staybridge Suites and Candlewood Suites operating in around 100 countries offering 630,000 rooms. Second in this list follows, Millennium Copthorne Hotels PLC with an annual turnover of  £703 million and pre-tax profits of  £103 millions. The company fosters four different brands including Millennium and Grand millennium Hotels, Capthorn Hotels and Kingsgate Hotels. Recently it has recently expanded with seven new hotels in China and Middle East. Accor UK Business Leisure Hotels Ltd is owned by Accor a French based group which has 15 different brands under its umbrella varying from luxury to economy accommodation. The UK based subsidiary generates an annual turnover of  £198 million of which  £37.5 million pre-tax profit. Travelodge which is owned by Dubai International Capital is the next in line generating an annual turnover of  £287 million and a pre-tax profit of  £16.5 million. The company is rapidly expanding both in UK and main land Europe, with 29 hotels planed to be built in UK in 2009 and 100 in Spain by 2020. De Vere Hotels Leisure Ltd operates two hotel chains generating a total annual turnover of  £248 million by combining a 100 bedroom hotels and fitness clubs. The company is owned by Alternative Hotel Group which is aiming to rebrand the De Vere portfolio under Deluxe, Heritage and Venue options, differentiating the accommodation offer. Tourism There was a slight drop in the number of overseas residents visiting Britain for business reasons in 2007/8 as a lot of companies tightened their budgets on travel expenditure. This has resulted in low room and bedspace occupancy levels which dropped to a 4 year low (426.2 million bed nights) with serious consequences for the hotel market. The following year was a very difficult year for tourism, experiencing a significant drop in visit numbers. 2010 is also expected to be somewhat difficult for the industry, with substantial improvement expected to start only in 2011. However, according to a keynote report on travel and tourism, research suggests that 1/3 adults in the Britain has taken at least one holiday in the last 12 months and 1/5 of them having taken three or more for the same period. Still, the economic downturn forced a lot of suppliers, including the package tour operators, to react by reducing their capacity and cutting the number of holidays on offer. UK continues to be an attractive place in the international holiday market and this is very important for the long term prospects of the hotel industry. The coming decade which has been described by many commentators as the golden decade of sport because of the many different international events due to take place in UK (table 1.7) is exiting times for the industry. Overseas spectator numbers to these events will provide a necessary boost for the hotel market. Records based on previous similar events staged by other countries in recent years show that hotel profitability increased as a direct result. BigHospitality referring to VisitEngland research suggests that tourism industry in the United Kingdome could be worth a staggering  £147 billion by 2020 with the potential of creating over 225,000 new jobs in the industry. This would be a 52% increase from the current estimated value of  £97 billion. Though smaller than the domestic spending in hotel sector, the international tourism is a significant contributor to total revenue. Only London, which earns over  £8bn from overseas visitors, depends more on the overseas visitor than on the home market. Employment and Demographics According to BBC unemployment in UK continued with its downward trend until August 2007, falling by 5000 in the second quarter of 07 to 1.65 million where it maintained one of the lowest unemployment rates in Europe at 5.5% but slightly higher than that of USA. ONS figures also showed that average earnings rose by 3.7% during the same quarter, beating expectations of a 3.6% rise. However, theses prosperous years were soon over and low unemployment was history. According to the national statistics, employment has seen a dramatic fall in the last three years reaching its lowest point since 1996 when it hit 72.1% or 28.82 million in February 2010 (appendix 3). In the last quarter to February there was a decrease in both part-time and full time employment totalling 89.000. The number of people working only part-time because they could not find full time employment increased during the same quarter to reach 1.05 million, the highest figure since 1992. The overall unemployment rate recorded 8.0%, in other words 2.5 million, higher than any time since September 1996. The inactivity rate in the first quarter of 2010 was at 21.5%, the highest since 2004. This added another 110,000 to the total figure, reaching a record high of 8.16 million people considered inactive in UK. Though, this could be as a result of a relatively large number of young people choosing to go into education after finishing their secondary school rather than go straight to the labour market. Population in the United Kingdome has continuously increased in recent years reaching 61.4 million in 2008, an increase this of over 9% in just five years (KeyNote). This was due to the high influx of migrants from the newly joined EU member states from Eastern Europe. This trend of population growth is forecasted to continue to the end of the century. Britains population is predicted to reach 71 million within 25 years, 78 million within 50 years and 85 million by 2081 (The Guardian, 28/11/07). This 39.6% growth (from 59,834,300 in 2004) represents an opportunity for steady market growth in UK in the next 78 years. The hotel industry is likely to benefit substantially from this if the lifestyle people have grown to enjoy in the last 20 years continue to be the norm. SWOT Strength UK is seen as a major tourist destination and has in place a good promotional and support system for tourists such as VisitBritain. The UK market incorporates a number of internationally well-known hotel brands and chains. Short term leisure breaks have risen due to high disposable income over the last decade. The development of the budget hotel sector opened the hotel market to a wider range of clients. The Internet has facilitated easier choice and booking of facilities. Weaknesses The industrys performance is highly dependable on the performance of the wider economy. The market seems to be over supplied in term of room numbers and this seems to keep room occupancy levels rather low at 60% average. Budget and upscale hotels seems to be putting the midmarket establishments under pressure. Continuing investment is necessary to maintain properties at a high standard. Opportunities A number of international sports event planned to be staged in UK between now and 2019 Western Balkans expected to join the European Union soon which would allow for more tourists from that region visit Britain. Forecasted growth of inbound visits till 2014 Steady population growth well into the century which would boost demand for travel and tourism and consequently Hotel facilities. Threats Some EU economies suffering from high deficits may be forced to freeze or lower wages all together in their public sectors. This could impact the numbers of overseas visits to UK which would adversely affect the turn over and consequently profits in the hotel industry It may get harder to raise expansion capital due to falling property values. High unemployment rates in UK could mean that people may not be able to afford holidays. CONCLUSION/RECOMMENDATION The success of the industry is dependable on a lot of external factors and this was most clearly evident during the last economic downturn. However, in todays world globalisation plays an important role both in leisure and commerce. Therefore, hotel industry which is now well established will be a sector that would commend high demand for its services in the future. History shows that hotel industry has bounced back in the past after suffering similar setbacks. This will certainly be the case this time round with the first signs of recovery already in sight. At glance it appears that the industry has learned from previous downturns responding to it by adjusting prices and offers to look more attractive. Seeing that the largest share of revenue comes from internal visits and many EU economies risking Bankruptcy, it would be wise to try and encourage more British people spend their vacations in the UK. In the meantime the coming decade with its sports events to be held here presents a great opportunity for the industry. Therefore, companies should take advantage of this by planning ahead so they would have sufficient bed/room space to meet the demand. Although trading at the moment is rather low in comparison to pre-recession time and raising capital for further development has become harder. It is worth remembering that hotel projects take a relatively long time to materialise and now may be the time to start thinking for the future. As the economy recovers the hoteliers should also seek to build occupancy back, perhaps through further competitive pricing and promotional deals with the aim to reinstate RevPar growth. APPENDICIES AND TABLES Table 1.1. Overseas residents visits to the UK and the expenditure in the UK (Million,  £million and  £) 2004-09 2004 2005 2006 2007 2008 2008 Q1à ¢Ã¢â€š ¬Ã‚   2009 Q1à ¢Ã¢â€š ¬Ã‚   Number of overseas visitors (million) 27.8 30 32.7 32.8 31.9 7.2 6.2 Expenditure ( £m) 13.047 14.248 16.002 15.960 16.323 3.129 3.128 Average expenditure per visit ( £) 469 475 489 487 512 435 505 UK residents Expenditure ( £m) 21,238 21,107 Q1- first qarter à ¢Ã¢â€š ¬Ã‚   Seasonally adjusted Note: expenditure figures refer to total spending by visitors not solely accommodation/hotel costs Source. International Passenger survey (MQ6, Quarter 1 2009) National Statistics Table 1.2: EMPLOYMENT IN THE UK HOSPITALITY INDUSTRY 2004-2007 2004* 2005* 2006 2007 Contract food service  providers 179,600 178,300 182,600 181,600 Hotels 247,100 238,400 238,500 245,000 Pubs, bars and nightclubs 368,400 333,900 297,700 319,600 Restaurants   518,700   514,700   499,700   526,700 Hospitality services   402,100   379,900   390,300   417,400 TOTAL WORKFORCE   1,917,300   1,843,000   1,866,300   1,960,700 Source: Labour Force Survey www.caterersearch.com Table 1.3: UK resident population estimates 2004-08 2004 2005 2006 2007 2008 Population (000) 59,846 60,238 60,587 60,975 61,412 % change year on year 0.7 0.6 0.6 0.7 Source: Monthly Digest of Statistics, August 2009, statistics.gov.uk Table1.4: UK GDP at Current and Annual Chain-Link Prices ( £m), 2004-08 2004 2005 2006 2007 2008 Current Prices 1,202,956 1,254,058 1,325,795 1,398,882 1,446,113 % change 4.2 5.7 5.5 3.4 Annual Chain-Link 1,227,387 1,254,058 1,289,833 1,322,842 1,332,652 % change 2.2 2.9 2.6 0.7 Source: Economic and Labour review, August 09, statistics.gov.uk Table 1.5. UK rate of inflation (%) 2004-2008 2004 2005 2006 2007 2008 Inflation (%) 3.0 2.8 3.2 4.3 4.0 Change year on year -0.2 0.4 1.1 -0.3 Source: Monthly Digest of Statistics August 2009, National Statistics website Table 1.6: Proportion of nights spent and expenditure on hotels, motels or guest houses and other accommodation in the UK by UK and Overseas residents (%) 2007 2008 Nights (%) Expenditure (%) 2007 2008 2007 2008 UK Residents Hotel, motel or guest house 23 23 46 48 Other accommodation 77 77 54 52 Overseas residents Hotel, motel or guest house 23 22 50 50 Other accommodation 77 78 50 50 Source: UK Tourism survey 2007 and 2008, VisitBritain/International Passenger survey 2007 and 2008, National Statistics. Table 1.7: Golden decade of sports Event Sport Year Location Ryder Cup Golf 2010 Wales Olympic Games Various 2012 London Commonwealth Games Various 2014 Glasgow Rugby World Cup Rugby 2015 England World Cup Football 2018 UK Cricket World Cup Cricket 2019 England Table 1.8: Major Players in UK Hotel Industry Company Revenue per year ( £m) Accor UK Business Leisure Hotels Ltd 198.3 De Vere Hotels Leisure Ltd 248.2 Guoman Hotels Ltd 220.4 Hilton International Hotels (UK) Ltd 58.10 InterContinental Hotels Group PLC 1,850.00 Macdonald Hotels Ltd 135.4 Marriott Hotels Ltd 149.5 Millennium Copthorne Hotels PLC 702.9 Premier Inn Hotels Ltd 159.5 Travelodge Hotels Ltd 287 Source: KeyNote Appendix 1: The Economy in three recessions (bbc.co.uk) Appendix 2: Oil price rise 2000-07 (bbc.co.uk) Appendix 3: Employment (statistics.gov.uk) Appendix 4: UK Hotel Market Forecast. Appendix 5: Number of establishments

The Epidemic of Post-Traumatic Stress Disorder (PTSD) Essay -- Post-Tr

The human brain is extremely complex, top scientists and surgeons still struggle to comprehend how it works. The way that the brain can process information and help a person to problem solve is amazing, but another part of the brain can hold memories. Some are good--like a memory of a family vacation or of family holidays--but there are also frightening memories that can haunt a person until his or her death, if they don’t get help. For a very long time researchers have focused on combatant PTSD, for very good reason, but now a problem has risen among civilians, and they have not been focused on the growth of PTSD right here in regular everyday people’s lives. Not just soldiers can be affected; civilian men, women, and children can be affected by the things they see every day. It can be the paramedic that is first on the scene or it could be the child who watches a robbery goes wrong and a loved one is caught in the cross-fire. Either way these people are all just as im portant to the american society as the soldiers. The importance of the military is massive, and yes I agree that we should help the soldiers who suffer from PTSD, I even have my own personal connections. My uncle went to Vietnam for the Vietnam war and when he came back he was paranoid and scared of anything that reminded him of Vietnam. He like so many other soldiers then and now has PTSD from what he had seen while overseas. The only problem with helping the soldiers is that we don’t focus on the others who also need help getting through their PTSD. There are so many research projects on how to help soldiers get through their PTSD, but their are a limited amount of PTSD research papers on the civilian side. Researchers will only focus on certain things, and pr... ... 07 Dec. 2013. Marais, Adele, et al. â€Å"Domestic Violence in patients visiting general practitioners: Prevalence, phenomenology and association with psychopathy.† SAMJ South African Medical Journal 89.6 (1999): 635-640. Web. 07 Dec. 2013. Schwarz, Eitan D., and Janice M. Kowalski. "Malignant memories: PTSD in children and adults after a school shooting." Journal of the American Academy of Child & Adolescent Psychiatry 30.6 (1991): 936-944. Web. 07 Dec. 2013. "Survivor Care." LOVE146. LOVE146. Web. 06 Dec. 2013. Tarrier, Nicholas, and Lynsey Gregg. â€Å"Suicide risk in civilian PTSD patients.† Social psychiatry and psychiatric epidemiology 39.8 (2004): 655-661. Web. 07 Dec. 2013. The Amazing Spider-Man. Dir. Marc Webb. Perf. Andrew Garfield, Rhys Ifans, Martin Sheen, Emma Stone, Denis Leary, and Sally Field. Sony Pictures, 2012. DVD. 07 Dec. 2013.