American Opportunity essays

American Opportunity papers Opportunity is characterized in Websters Dictionary as a decent position, possibility or prospect for accomplishment, which can be contrasted with the possibility of The American Dream. All things considered, America is known as the place where there is fresh new chances, Most individuals come to America looking for a superior life and accomplish it through difficult work and devotion to their motivation. The sonnet by Jimmy Santiago Baca So Immigrants Are Taking Jobs from Americans and the meeting by Studs Terkel Arnold Schwarzeneggers Dream are joined under the subject of foreigners, yet isolated by how each perspectives opportunity in an unexpected way, contingent upon ones ethnicity. As a matter of first importance, in the sonnet of Santiago Baca, he suggests that outsiders don't have openings in this nation, that there is no American dream. His storyteller watches, I see the poor walking for a little work, I see little white ranchers selling out to family fit ranchers living in New York (Baca 1111). Here, the storyteller infers that workers result in these present circumstances nation in the expectation of finding a superior world, yet what they find is the dismal truth of a foreigner: getting poor paying employments and taking the extra occupations. Similarly, Bacas sonnet signifies negativism about open doors for settlers in America: I see this, and I hear just a couple of individuals got all the cash in this world, the rest tally their pennies to purchase bread and butter (Baca 1111). He shows that lone a couple of are sufficiently fortunate to succeed and make their fantasies work out as expected, however the rest need to remain their entire lives battling t o simply have a bit of something. Baca additionally expect that open doors for settlers are uncommon to the point of taking a chance with their lives to accomplish a few dreams that are far off: Below that cool green ocean of cash, a huge number of individuals battle to live, scan for pearls in the darkest profundities they had always wanted (Baca 1111). The creator demands that ... <!

House-guest

To be a house-visitor there are numerous obligations, for example, plan which, an ideal house-visitor would call ahead that they are coming and focus on the time they are showing up and leaving. Visitors should realize to what extent to remain at another person's place and not remain too long to even think about making the individual who claims the house irritated of them. Another duty Is that a visitor should accompany blessings to show appreciation. The blessing doesn't need to be something costly, just to show that you viewpoint them that they are letting you remain at their house.Guests should regard the host and not disclose to them that something of their home or taste sucks. Visitors should cause the host to feel great by disclosing to them how wonderful their home is. Dinners is another obligation house-visitors should realize that they ought not generally rely upon the host to make them food all the occasions. Visitors ought to in any event offer for help to make the suppers or even make dinner themselves to show their generosity.Privacy is a gig obligation on the grounds that the host could be as yet working and the visitor would be on vacation that they are remaining at the hosts home. The visitor should regard the way that the host Is not on a vacation and do things them self or even assistance the host out by having food prepared for them before they return home. Gratefulness Is Important for a house-visitor since that would show the host they loved being there and that they really set aside the effort to welcome the stay along these lines the host would even welcome the visitors back.

PRACTICAL 1SENSORY RECEPTOR SENSITIVITY Example

PRACTICAL 1SENSORY RECEPTOR SENSITIVITY Example PRACTICAL 1:SENSORY RECEPTOR SENSITIVITY â€" Assignment Example > PRACTICAL 1: SENSORY RECEPTOR SENSITIVITY: Aim: To determine the characteristics of cetaceous receptors by studying variations in response of mechanoreceptors and thermoreceptors. To observe variations in localization of touch over various body parts. To observe variations in location and concentration of heat receptors. Introduction. The sensory receptors are widely classified into three categories depending with the origin of the stimulus: Namely; interoceptors, proprioceptors and the exteroceptors. This model of classification though has the limitation of revealing little regarding the sensory apparatus of the general somatic afferent. And for this matter is appropriate that we also base the classification of the kind of stimulation on which the receptor will respond to and are; the thermoreceptors, the nociceptors and the mechanoreceptors. Mechanoreceptors response to receptors or tissues is of similar mechanical deformations of touch, pressure, vibration and stretch. The sens ations recorded normally range from the random body position to touch and the orientation in space. In this Laboratory practical session, we are to observe the variation in discrimination over different body parts by deploying two-point discrimination method. Nolar, M.F. , (1987}Physiologically, the dermis of the skin has two specialized nerve endings which are the receptors for the temperature. The Krause’s end bulb is more sensitive than the receptors for heat and is specialized for cold reception. To distinguish the heat receptor from the touch receptors when the temperatures are low is always difficult and even when the temperatures are high, distinguishing them with the pain receptors is also difficult. Weinstein, S., (1968)Before going into the details of the composition of each receptor group, the significant to understand the various afferent fiber groups that work hand in hand with the various receptors kinds. There are two kinds of nerve fibers; the myelinated and the non myelinated. The myelinated nerve fibers have a much high velocity of conduction than the non-myelinated nerve fibers. The non myelinated nerve fibers are cuteneous nerves with a diameter of about 0.2 â€" 1.5 um and their conduction velocity is approximately 0.4-2.0 m/s. The stimuli sensitivity of the non-myelinated nerve fibers varies between the glabrous which are less sensitive and the glabrousskin being more sensitive. It’s the physical motion or the indentations that cause the excitement of the mechanoreceptors. Some mechanoreceptors are situated in the superficial and in the deep areas of the skin. At the superficial section, there is Merkel disk receptors and Meissner’s corpuscles. Schmidt, R.F. , (1981). Part A: Two-Point DiscriminationMethodology: 1.Blindfold the subject and ensure he/she is seated and relaxed with hands resting on a bench or arm rest. 2.Commence with a minimum separation of stimuli by using both ends of a two-point compass and stimulate the subject ’s finger. Ask the subject to report if he/she feels 1 or 2 stimuli. 3.Increase the separation distance of the compass points by 1 mm until the subject first reports 2 stimuli. RECORD the separation distance. 4.Start with a separation distance of 10 mm and progressively decrease the separation distance by 1 mm until the subject first reports one stimulus. RECORD the separation distance.

Vampire Depiction Dracula Vs. Louis - 2305 Words

Meagan Labruzza Engl. 2090/Sec. 476 Dr. Werner 9 December 2014 Vampire Depiction: Dracula vs. Louis For years, the vampire has been a mysterious creature. We have all been infatuated with the appeal of immortality and distinctiveness that vampires possess. Many writers have visualized what vampires are supposed to look like and how they act. The common description of a vampire is terror, violence, viciousness, and fear. Nina Auerbach, writes that â€Å"There is no such creature as ‘The Vampire’; there are only vampires† (Saler 218). This statement recognizes that vampires differ tremendously in behavior, motivation, and culture. Because vampires are a fictional character, depending on the writer, the vampire will be different, even if they are†¦show more content†¦We get to know how he is transformed into a vampire. And we get to know how he feels as a vampire. These two major differences, give two totally different insights on the vampire’s life. Through this critical research paper, I want to find out how th e depiction of Bram Stoker’s vampire, Dracula, is different from Anne Rice’s vampire, Louis? While there will be some similarities between the two vampires, there is a major difference between the two stories. Dracula is â€Å"compromised of journal entries, letters, newspaper clippings, a ship’s log, and phonograph recordings† (Dracula 1). This is other people viewing the vampire, in this case, Dracula. In Interview with the Vampire, we are seeing what it is like to be a vampire through a vampire’s eyes, in this case, Louis. Louis is telling us everything we want to know. So because of this difference, we have two different perceptions on what a vampire is. Bram Stoker’s, Dracula, is a predominant cause of the vampire trend today, even though many stories were written about vampires before this book. As mentioned before, vampires cause fear in a human. In the novel, Jonathan Harker is sent to counsel a wealthy client, who is Count Dracula. Dracula welcomes Harker warmly, but soon after being welcomed into Dracula’s home, he gets an uneasy feeling about the man he has just met (MacGillivray 518). He states â€Å"the instant I had stepped over the

The Stigma Of Bipolar Disorder Essay - 1864 Words

Cory Murphy Composition 101 Professor Tanya Vanderlinde 11 Dec. 2016 Eliminate the Stigma When a seventh grader at Frederick Area High School in Frederick, South Dakota, was asked to describe what bipolar disorder is, he said that it refers to people that â€Å"change personalities fast† (McGaugh). However, this is only a common misconception. Though the word â€Å"bipolar† is often used in conversations to describe a person that has mood swings, bipolar disorder actually refers to a serious mental illness. According to the Depression and Bipolar Support Alliance, about 2.6 percent of American adults suffer from a form of bipolar disorder, and about one in five people with bipolar disorder commits suicide. Despite the impact that bipolar disorder has on the lives of patients and families alike, it is treated casually by people across the United States. Even though many treat it flippantly, bipolar disorder is a serious mental ailment, and the public needs to have a greater understanding of it. There is a dark stigma surrounding mental illness in general, and bipolar disorder is no exception. According to the Mental Health Commission of Western Australia, a stigma is â€Å"a mark of disgrace that sets someone apart.† Bipolar disorder is incredibly misunderstood by society at large, which leads to this stigma, prejudice, and discrimination. In everyday conversation, the word â€Å"bipolar† is frequently used to describe how someone is feeling at that moment. If a person is sad one moment andShow MoreRelatedThe Stigma Of Bipolar Disorder Essay1854 Words   |  8 PagesEliminate the Stigma When a seventh grader at Frederick Area High School in Frederick, South Dakota, was asked to describe what bipolar disorder is, he said that it refers to people that â€Å"change personalities fast† (McGaugh). However, this is only a common misconception. Though the word â€Å"bipolar† is often used in conversations to describe a person that has mood swings, bipolar disorder actually refers to a serious mental illness. According to the Depression and Bipolar Support Alliance, about 2Read MoreThe Stigma Associated With Bipolar Disorder1448 Words   |  6 PagesLiving with Bipolar Disorder The stigma associated with bipolar disorder is unacceptable. The purpose of this paper is to improve the readers ability to understand what bipolar disorder is and how being diagnosed with this disorder affects all facets of daily living. Family, friends and associates of individuals with bipolar disorder are often affected as well. As a result of the stigma associated with the disorder, the effects remain: often multiplied by individuals that have a limited understandingRead MoreThe Effects Of Stigma On Functioning On Bipolar Disorder Patients2072 Words   |  9 PagesThe Impact of Stigma on Functioning in Bipolar Disorder Patients Bipolar disorder, also known as manic depression, is a mood disorder that requires careful medication management during a patient’s lifetime (Halter, 2014, p. 227). Bipolar disorder is described as recurrent episodes of mood changes ranging from mania to irritability to depression (Halter, 2014, p. 228). Periods of normal functioning are also recurrent with mood shifts. Often times bipolar disorder goes undiagnosed for many yearsRead MoreTreatment For Middle Aged African American Women With Bipolar Disorder849 Words   |  4 Pageswomen with bipolar disorder What is it? Bipolar disorder is a mental illness characterized by drastic mood swings ranging from immense euphoria to extreme depression. People with bipolar disorder are likely to experience a lack of energy, participation in normal social activities, and the ability to complete daily routines. This can cause interpersonal relationships and work-life to suffer. They may also have strong thoughts of death or suicide, or suicide as a result of bipolar disorder. The causeRead MoreThroughout Lifetime We All Go Through Experiences That1276 Words   |  6 Pagesmelancholy and joyfulness are ordinary human emotions that often do not affect our everyday life. But there is a condition known as Bipolar Disorder that changes all of this. This essay will discuss the stigma and structural violence associated with Bipolar Disorder and mental illness. It will also discuss how popular cultural depicts mental health. Bipolar disorder also known as manic- depressive illness is a chronic mental illness characterized by fluctuations in mood and energy that manifestsRead MoreBipolar Disorder : Depression And Depression1591 Words   |  7 PagesBipolar disorder is a mental disorder characterized by an alternating or shift in moods of elevation and depression. It is also known as manic depression. This mental illness is that brings severe high and low moods, it can cause changes in sleep, energy, thinking, and behavior. â€Å"Bi† which means two or alternating between two, explains the two common episodic moods that occur in individuals with this disorder; mania and depression. According to the DSM there are multiple forms of bipolar disorderRead MoreBipolar Disorder, Formerly Known As Manic-Depression, Is1359 Words   |  6 PagesBipolar disorder, formerly known as manic-depression, is a mental disorder. This disorder causes the individual to experience severe mood swings, from elation to de pression. Individuals with bipolar disorder can experience serious changes in thinking, energy and behaviour. The different states of those with bipolar experience are referred to as ‘episodes’. These episodes can last days, weeks or months, depending on the severity of the episode. There are three main types of episodes, they are maniaRead MoreBipolar Disorder : The Facts And The Myths900 Words   |  4 PagesRunning head: BIPOLAR DISORDER Bipolar Disorder: The Facts and the Myths John Payne American Public University Abstract This paper is a intended to teach the reader about what Bipolar Disorder is and how it is treated. The facts on bipolar disorder will be discussed, as well as the taboos associated with the disorder and complete myths that have created such stigmas about having and living with bipolar disorder. This paper will discuss what bipolar disorder is, how it is diagnosed, andRead MoreBipolar Disorder And Its Effects On Society1416 Words   |  6 PagesBipolar disorder is often misunderstood. There is very little research on all mental illnesses but, specifically bipolar disorder because humans have not come out with the technology to fully study the brain. This is why people often judge people with mental illnesses and place a certain stigma on them, people just do not know what to think. For our group project, my group wanted to learn more about why mental illnesses are so misrepresented within our culture. Bipolar disorder, formerly known asRead MoreThe Effects Of Bipolar Disorder On Individuals, Families And Society1109 Words   |  5 Pageswill be focusing on one of the more common mental illness — bipolar disorder. Bipolar disorder, also known as manic-depressive illness, is a serious medical condition that causes people to have extreme mood swings and these mood swings affect how people think, interact, behave and function (Bipolar Disorder, 2012). Research indicted that one to two percent of adults have bipolar disorder (Bipolar Disorder, 2012). Patients with bipolar disorder will also experience mania which are episodes of â€Å"severe

Brave New World Character Analysis Free Essays

Brave New World by Aloud Huxley, the reader is introduced to a very different society than the one that they currently live in. In this seemingly weird society, Huxley introduces Lenin Crowner. Lenin is Aloud Huxley femme fatal character. We will write a custom essay sample on Brave New World Character Analysis or any similar topic only for you Order Now She works at a London Center of Hatchery. Lenin is also a very â€Å"pneumatic† woman that is the ideal Brave New World citizen and is also thoroughly conditioned to meet the expectations of the world controllers.. Although intelligent, she prefers to return to her conditioning and not cause arguments. There are moments of non-conformity in her, but she hides such tendencies, preferring to be an ideal member of the Brave New World. Since she is a true product of the Brave New World, she dislikes traditional human emotions and sees sex as only a â€Å"no strings attached† type thing. It is because of this that she doesn’t understand why John the Savage is not interested in her just because of her body. The common question surrounding Lenin is does she really love John, or is this simply a case of wanting what you can’t have? Throughout the course of the novel, we do see an evolution in Lamina’s character right around the time John is introduced. We see the breaking point of Lenin when she does something at the end of the book that she’s never done. She cried when seeing John isolating himself at the lighthouse thus showing that Lenin was presumably in love with John. Personally, still feel that Lenin was just infatuated of the fact that John is different from the rest of the Brave New World. Overall, we as readers saw a major change in Lamina’s character throughout the course of the novel. I do feel however that Huxley could have better represented Lenin in the beginning chapters and also describe her a bit How to cite Brave New World Character Analysis, Papers

Advanced Artificial Intelligence Essay Example For Students

Advanced Artificial Intelligence Essay Artificial Intelligence: Cognitive Ability or Information Processing Computers have become an integral part of our everyday lives. We rely upon these machines to perform innumerable tasks that we often take for granted. Most people realize that computers are able to perform the multitude of functions as a consequence of the programming they receive. These programs give computers a set of instructions that governs their transition from one information processing state to another. Thus, computational machines are able to respond to a certain set of inputs with a certain range of outputs. In order to comprehend programs one needs only to describe these instructions in functional terms. In this regard, computer programs are extremely similar to functional accounts of the human mind, which contend that in order to understand the mind, one must simply examine the relationship between stimulus and behavior. Consequently, the question has naturally arisen as to whether a computer which consisted of a sufficiently sophisticated program would be capable of thought. This question has resulted in lively debate, with one camp of people including John R. Searle emphatically denying the plausibility of Artificial Intelligence. On the other side of the debate, individuals such as Paul and Patricia Churchland have declared that although a serial machine with a program might not be able to think, Artificial Intelligence might be feasible in parallel processing computers. In Is the Brains Mind a Computer Program, John R. Searle presents an interesting argument against strong artificial intelligence proponents. Believers of strong artificial intelligence contend that a computer that can pass the Turing test is displaying cognitive ability. The Turing test basically states that if a computer can function in such a way that an expert can not distinguish its performance from that of a human who has a certain cognitive ability, such as the ability to understand a language, then the computer also has that ability. Proponents of weak artificial intelligence have a much less forceful view which states that if a computer can pass the Turing test it is merely a successful model of the mind. In his essay, it is the strong AI proponents whom Searle is critiquing. Searles argument against artificial intelligence can essentially be summed up in three simple statements: (1) Computer programs are formal/syntactic (2) Human minds have mental contents or semantics (3) Syntax by itself is neither constitutive of nor sufficient for semantics. From these three statements Searle concludes that, Programs are neither constitutive of nor sufficient for minds. In order to illustrate his argument, Searle then utilizes the so called Chinese room argument. The Chinese room simulation commences with a person who has no knowledge of the Chinese language. This person is then placed into a room containing baskets full of Chinese symbols. In addition, this individual is provided with a rule book (in a language which he or she presumably understands) for matching Chinese symbols with other Chinese symbols. The rules identify these characters solely in terms of their shapes and do not require any comprehension of them. The argument then asks that you imagine that there are people outside the room who understand Chinese and who hand this person symbols which pose certain questions. In response, this person manipulates these symbols according to the provided rule book, and hands back certain symbols. The symbols that this individual returns, unknown to the person inside the room, are answers to the questions which these native Chinese speakers are posing. Furthermore, this rule book makes this persons answers indistinguishable from a native Chinese speakers. Hence, this individual would be able to satisfy the Turing test for comprehension of the Chinese language, although he does not actually have any understanding of the language. .ud047480c6294d7b189542046c467001c , .ud047480c6294d7b189542046c467001c .postImageUrl , .ud047480c6294d7b189542046c467001c .centered-text-area { min-height: 80px; position: relative; } .ud047480c6294d7b189542046c467001c , .ud047480c6294d7b189542046c467001c:hover , .ud047480c6294d7b189542046c467001c:visited , .ud047480c6294d7b189542046c467001c:active { border:0!important; } .ud047480c6294d7b189542046c467001c .clearfix:after { content: ""; display: table; clear: both; } .ud047480c6294d7b189542046c467001c { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ud047480c6294d7b189542046c467001c:active , .ud047480c6294d7b189542046c467001c:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ud047480c6294d7b189542046c467001c .centered-text-area { width: 100%; position: relative ; } .ud047480c6294d7b189542046c467001c .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ud047480c6294d7b189542046c467001c .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ud047480c6294d7b189542046c467001c .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ud047480c6294d7b189542046c467001c:hover .ctaButton { background-color: #34495E!important; } .ud047480c6294d7b189542046c467001c .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ud047480c6294d7b189542046c467001c .ud047480c6294d7b189542046c467001c-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ud047480c6294d7b189542046c467001c:after { content: ""; display: block; clear: both; } READ: In Twilight of the Idols Nietzsche discusses his views on Christianity, other philosophers, and authors of his time Essay Searle then makes the analogy between the rule book and a computer program, the person and the computer, and the symbols and a computers data base to decisively demonstrate that symbol manipulating devices are not enough for cognition. In Searles opinion, computers can never be minds because they are inherently different from brains. He argues that brains do not merely instantiate a program but also cause mental events by virtue of specific neuro biological processes. Searle is essentially making the contention that brains, .

Advantages and Disadvantages of Internet free essay sample

The Internet is undoubtedly the most crucial technology of the modern world, the useful application has not only made our lives easier than ever before but it also plays a very important role in future developments. Everyone knows that the internet has global advantages. With the introduction of the internet global communication has become a matter of just a click of the mouse. The internet has brought about various different, innovative communication means like emailing, chatting over the internet. The internet has a lot of on any topic. the search engines like Google, yahoo, enable people to search for info. These systems have not only made the communication easy but also our lives like entertainment where we can watch YouTube, downloading game or just surfing the celebrities websites. Furthermore, social networking like face book, MySpace, friendster, twitter. Social networking has become so popular amongst youth. It has envelop as a great medium to connect with millions of people with similar interests. We will write a custom essay sample on Advantages and Disadvantages of Internet or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Where many banks in the world use online service. We can now perform all transaction online. We can book tickets for a movie, transfer found ,pay utility bills, taxes etc. Everything has a negative aspect to it and so does the internet. The biggest threat of the internet is pornography and the security threats. This is probably the worst disadvantage of the internet especially for the parents who have kids. If we use the internet, these is a great risk of stealing your personal information such as names, address credits card number by those culprit. While the virus threat often plagued by virus attack on their system computers connected to the internet are very prone to targeted virus attacks and may end up crashing. In conclusion, today’s society is in the middle of a technological boom. people can either choose to take advantage of this area or simply let it pass them by. The internet is a very powerful tool. It has many advantage, however people need to be extremely aware of the disadvantages.

Pair and Other Words Meaning Two

Pair and Other Words Meaning Two Pair and Other Words Meaning Two Pair and Other Words Meaning Two By Maeve Maddox A reader wonders about the word pair to describe singular objects: A headline from today’s National Post, â€Å"The Royal Canadian Navy is looking to buy 180,000 pairs of grey, lightweight underwear,† got me wondering about the use of the word pair when it comes to things like underwear, pants and scissors. Why are clearly singular items commonly referred to as pairs? Any ideas? I wish I could come up with some really obscure reason for the fact that modern speakers talk about â€Å"a pair of scissors† and â€Å"a pair of stockings,† but fourteenth century English speakers were already speaking of tools that had two joined partslike shearsas pairs. The earliest meaning of the word pair was â€Å"two things of the same type which ordinarily or necessarily are found together.† By the 17th century, pair had acquired the following meanings: a group of things which form a set a married couple a single thing in two pieces or two symmetrical parts two animals of the same species used or bought together two people united by affection or some similarity of position two symmetrical or identical parts of a body (ex. a pair of eyes) The of that follows pair in modern English was often omitted in Middle English and in early Modern English. For example, one spoke of â€Å"a pair socks† and â€Å"a pair gloves.† This change is especially interesting in light of the current trend to drop of after couple, another word that means â€Å"two things.† (See the comments on my post The Quasi-adjective Couple) Another change in the use of pair has to do with the plural. In the not-so-distant past, the singular was used after a numeral: â€Å"three pair shoes,† but now, as in the headline that launched this discussion, we use the plural: â€Å"looking to buy 180,000 pairs of grey, lightweight underwear† Here are a few more words that convey the idea of two: brace double duet duo duplet dyad twain twice twin two twosome Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:30 Synonyms for â€Å"Meeting†80 Idioms with the Word TimeNarrative, Plot, and Story

CONSUMER PSYCHOLOGY ( Promotion Events) Essay Example | Topics and Well Written Essays - 2500 words

CONSUMER PSYCHOLOGY ( Promotion Events) - Essay Example Section A The function is being organised for young managers who are in lower or lower middle level in any mid / large size organization in the city. The guest list also includes middle or senior level HR and marketing managers who are working for similar profile of organizations. The rationale behind choosing two sets of guests is that, one set of guests will be the user of the product that we plan to offer right now i.e. an executive MBA course, while the other will act as opinion leaders and referees for this product, but as customers for our corporate learning products that we plan to offer in future. Demographic – Males and females, married and single, belonging to age group of 20- 35 years, working in various functions like sales & marketing, finance and accounting, HR, operations, IT etc, with work experience ranging from 3-12 years. Psychographic – People who are ambitious, excited about growth, Love learning new things and sharing them with others, , Interested in further education, who believe in pushing hard to succeed, Love reading career blogs. The process starts with customer’s exposure to the product or its idea through either marketer’s cues like various P’s of marketing or socio-cultural environment. The idea is, before someone thinks he needs a car, the person either must have seen a car or heard, read about it. This learning may take place by seeing some thing in a shop or a friend’s place, or watching or hearing its advertisement, being told by some one to try such and such product. Every thing in the event is aimed at that purpose only i.e. influencing consumer decision making positively. Some of them will be working directly in the sense their contribution can be seen or evaluated with the help of this model, while others may help at a subliminal level. For example Taxi – Hiring an upmarket car will give higher image to our organization, We will hire the best Band available in the

Analytic Interpretation of The Love Song by J.Alfred Prufrock Essay

Analytic Interpretation of The Love Song by J.Alfred Prufrock - Essay Example Therefore, the ultimate thrust of this research will be to draw inference on and summarize the means, whereby symbolism is adequately and effectively employed within the poem by underscoring the means by which it is utilized within a brief stanza. For purposes of the analysis, the following stanza has been selected for the close reading: And would it have been worth it, after all, After the cups, the marmalade, the tea, Among the porcelain, among some talk of you and me, Would it have been worthwhile,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  90 To have bitten off the matter with a smile, To have squeezed the universe into a ball To roll it toward some overwhelming question, To say: â€Å"I am Lazarus, come from the dead, Come back to tell you all, I shall tell you all†Ã¢â‚¬â€   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  95 If one, settling a pillow by her head,   Ã‚  Should say: â€Å"That is not what I meant at all;   Ã‚  That is not it, at all.† (Eliot 2) Within the time that was writ ten, Eliot was not alone in seeking to display and symbolize a level of fragile broken humanity. Although it is not the purpose of this brief analysis to go into a great detail as for the level of influence that the First World War and a clean break from prior Victorian restrictions on nearly every aspect of life had with regards to culture, these should nonetheless be realized. T. S. Eliot, as well as many of his contemporaries, was practically fascinated by the very fragile nature that humanity illustrated ultimately. With regards to the close reading of that stanza above, this fragility is aptly demonstrated to the reader by means of the inconclusive and unsure nature that the speaker illustrates. Whereas the entire porn represent this uncertainty and self-doubt, the following passage portrays the manner in which the speaker wrestles with himself, emotions and feelings of love, lust, and integration with the idea of fate. The speaker says, â€Å"And would it have been worth it, after all,/After the cups, the marmalade, the tea,/Among the porcelain, among some talk of you and me,/Would it have been worth the while† (Eliot 2). In such a way, the reader can see the self-doubt and fragile nature of the psyche that is exhibited within the previous lines. Rather than being able to examine the situation and come to a determination whether he should or should not pursue the relationship, the speaker exhibits his own self-doubt and vacillates incessantly whether happiness or regret will be the end result. Another unique aspect of symbolism that the above passage relates to is the changing nature of gender roles that existed at the time the point was panned. Upon the conclusion of the First World War, an entire generation of young men returned to a society that was drastically different from the one they had left upon joining the armed forces. This difference was exhibited in a number of ways; however, one of the most noticeable was the level and extent to whi ch women were integrated into the society and the workforce (Lowe 66). As a result of this rapid cultural and societal shift, many individuals experienced something of cultural whiplash within the society. In tandem with the horrors of war, many men came to feel emasculated due to the fact that women now occupied many positions in the society and the workforce; also many cultural freedoms, that previously had been their own, were exhibited by women. Although this can hardly be referred to as a form of emasculation, key

The Impact Of Ict On Accommodation Sector Tourism Essay

The Impact Of Ict On Accommodation Sector Tourism Essay Domestic and international tourism in New Zealand has grown significantly in the past decade and shows every sign of continuing to do so. A vital component of the tourism industry is the Accommodation sector. Over 3000 accommodation enterprises employ more than 20,000 New Zealanders on a full time equivalent (FTE) basis and bring important economic benefit to both rural and urban settings. The accommodation sector is characterised by considerable uptake of new Information and Communication Technologies (ICT) in areas such as bookings, Property Management System (PMS) and back-office functions. This research aims to create a better understanding of how ICT adoption is influencing the demand for, and use of, accommodation in this important sector and how enterprise owners and managers feel about the ICT issues that stem from the tourist influences. The research is based on: (i) a review of global and local research in tourism, ICT and accommodation use; our findings reveal that ICT adoption is having important impacts on accommodation use and demand in both small and large enterprises, the researcher conclude with the presentation of a major findings and some thoughts on approaches that may enhance the ability of the accommodation sector to cope with the complex interactions between ICT adoption and tourism activities. 1.2 INTRODUCTION The increasing use of the Internet and other communication technology is changing the way the industry does business, allowing small operators to access those interested in their product irrespective of location, and allowing firms of all types to reap productivity gains, (Bahalis 1998, 2003). Tourists are also able to benefit from additional transparency in pricing and the ability to customize the experiences they seek (Inkpen 1998; Milne et al 2004). Medlik and Ingram (2000) stated in many years, hotel are important attractions for visitors who bring with them spending power and who tend to spend at a higher rate than they do when they are at home. Through visitors spending, hotel thus often contributes significantly to local economies both directly and indirectly through the subsequent diffusion of the visitors expenditure to other recipients in the community. However, the pattern and structure of the accommodation sector, growth in tourism, increase in capacities, globalisation and technology innovations has been the contemporary force for the hotel chains to extend their presence worldwide, achieving huge marketing success and market identity. Their success is not based only on promoting only one standardised product buy by introducing multiple brands which differentiate their services offered in the eye of the tourists. According to the international Hotel and Restaurant Association (IHRA), there are over 300 hotels chains which comprised one third of the worlds accommodation capacities. New Zealand is very much part of this dynamic and competitive tourism environment. The New Zealand Tourism Strategy 2010 (TIANZ 2001) identifies tourism as one of the nations key earners of foreign exchange and argues that the industry is likely to play a growing role in the future of New Zealands economy. During 2002 over 2 million international visitors spent an estimated NZ$6.140 billion. Taking into account the direct and indirect effects of this expenditure and the not inconsiderable (but harder to estimate) impacts of domestic tourism we see that the industry contributed approximately 9% of New Zealands GDP for the year to March 2002 and 14.3% of total exports (Statistics New Zealand, 2003). Information and Communication Technologies (ICT) are a key element in attempts to enhance the yield of the industry. It has also been suggested that ICT change the very rules of tourism with industry leaders being forced to adopted new managerial and strategic best practice (Buhalis 2000, Law 2001). The New Zealand Tourism Strategy has as one of its key strategic objectives the need to build the ICT capability of New Zealand tourism enterprises, especially among the 85-90% of businesses that are classified as small tourism enterprises (STE) (Nodder et al 2003a). The Strategy identifies tourism as a knowledge and information-based sector and highlights the ability of ICT to collect, analyse and distribute information widely across the sector supporting a better understanding of visitors needs, preferences and behaviours. It is also argued that ICT can foster a higher degree of interaction between stakeholders through an internet presence, email, electronic discussion groups and teleco nferencing. Such networking and linkage formation offers the opportunity to realise enormous benefits (Nodder 2003; Nodder et al 2003). This research addresses these issues in the context of the New Zealand accommodation sector. Accommodation represents the cornerstone of both the international and domestic tourism markets and accounts for a major component of total tourist spend. The sector is relatively labour intensive and is a significant employer in both urban centres and more peripheral rural regions (Morrison and Thomas 1999; Statistics New Zealand 2003). It is a diverse industry including everything from large hotel with multinational organisational structures, through to small owner operated motels and bed and breakfast establishments. 1.3 Aims and Objectives The core objectives of this research are to: To develop a clearer picture of the current competitive context facing the accommodation sector in New Zealand, in order to provide a backdrop to the ICT and labour use dimensions that from the focus of the research. To gain an understanding of how ICT is being adopted and used in the New Zealand accommodation sector and to review wherever possible the differences that exists between small and large operations and between those operating in rural and urban settings. To provide a clear sense of how ICT adoption is influencing the demand for tourist and the workplace organisation and use of workers. In particular we focus on themes of hiring, internal communication, productivity, turnover and retention and processes of customer out-sourcing. To synthesize and discuss findings and present some tentative ideas that can assist the accommodation sector, and the regions that depend on it, to better anticipate and respond to the sometimes complex links between ICT adoptions and tourism demand for modern technology. 1.4 LITERATURE REVIEW It is important to note the international literature has generally shown that in the past small tourism firms have been less likely to implement ICT than their larger counterparts (Mutch, 1998; Paraskevas, 2002; Milev and Marsh 1998). Studies in the US, for example, show that managers in larger properties (greater than 300 rooms) attach significantly more important to the Internet as a tool to make reservations and analyse the competition than their smaller counterparts. Similarly, they rated its importance as a means to communicate with colleagues, vendors and corporate offices significantly higher (Van Hoof, et al, 1998). This is also fits the patterns seen in the studies conducted in the UK (Sigala et al, 2002, Evans and Peacock 1999; Buick, 2003, Main, 2001) and elsewhere (Milne and Pohlmann 1998). Resent years have seen a growing number of small operations embracing ICT for no other reason than they simply have no choice (Ateljevic 2002). The competitive cost of being invisible in a sector that is increasingly dominated by web-based booking systems is too great to bear for small operators who are already facing low margins and growing competition (Buhalis 1999). Thus ICT uptake is growing rapidly and, in the case of New Zealand, the use of computers, email and the Internet is reaching near saturation levels (Nodder et al, 2003a). Nevertheless it is important to note that there are varying levels and degrees of ICT use and many commentators argue that the sophistication with which hard and software is used still lags behind larger operators, even though the actual equipment may be in place (Milne et al, 2004). The reason for the past, and sometimes present, lag in ICT uptake and use by small businesses are many and varied and are inevitable shaped by both internal and external (environmental) factors, ICT use by smaller accommodation operators tends to be dominated by accounting functions, data processing and inventory management tools. While email and website use is also increasingly common as noted above this is not necessarily enough to meet the evolving demands of increasingly technologically savvy consumers. Buhalis and Laws (2001) discuss the behaviour of these new consumers who are becoming more used to interacting in an electronic environment and are increasingly demanding that tourism enterprises be easily accessible on the Internet. Not only do they require access to information but also the ability to book online and submit payment in a secure environment (Mason and Milne 2002; Gatty and Blalock 1998). Buhalis (2003, 143) comments on a number of factors that determine the introduction of ICT by SMTE. Factors originating in political, social and economic forces can lead to the uptake and development of technology as part of broader strategies. Thus it could be said that the new, sophisticated consumer is pushing SMTE to respond and increase efficiencies (Nodder 2003; Milne et al, 2004). Similarly, SMTE who are forming strategic alliances in order to increase their influence on a global market require the support that can be delivered by up-to-date ICT. As pointed out by Cooper (1998), accommodation is the fundamental element of the tourism product, not only is it the largest and most ubiquitous sub-sector within the tourism economy. The accommodation sector is the essential components for the tourism development, planning and economy within any destination and consists of different sub-sectors from which hotels can be considered as the significant one. It is on this premise that Medlik and Ingram (2000), contributed by saying that the primary function of a hotel is to accommodate those away from home and supply them with their basic needs but through the years the diversification in the provision of accommodation as tourism products, change in consumer demand, needs and expectations, globalisation and modernisation challenge has given rise to an increase level of ICT competition among accommodation service providers. The accommodation sector and the impact of technology have had great influence on the distribution of the accommodation products. The development of technology has seen accommodation providers reviewing their marketing strategy and delivering their product via an innovation distribution channel. The Global Distribution Channel (GDS) and Computer Reservation Channel (CRS) represent the strongest distribution system for hotels and international chains. According to Travel Mole (2001), the Hotel Electronic Distribution Network Association has reported that hotels bookings made through Amadeus, Galileo, Sabre, Sahara and World span grew 11.4 percent in 2000, with 48,787,000 bookings. The evolution of the internet provide the opportunity for the online booking through a central reservation system as well as the implementation of online marketing strategy and interaction with customers such as the e-commerce. However, it shows that despite the impact of the environment, seasonality or technological, the accommodation industry will still continue to innovate and diversify and expand to cater the demand in tourism products. 1.5 Accommodation, and ICT a review ICT are increasingly recognised as a critical part of the strategic management of accommodation organisations irrespective of size (Buhalis, 2003 p51). Studies of the significant intra-firm impacts of new technologies have been paralleled by broader analyses of ICT ability to alter distribution network and global industry structures (Nodder et al, 2003). Internally there has been a focus on the impact of technologies in both front office and back office areas with an emphasis on point of sale (POS) technologies, in-room entertainment, back-office accounting, human resources management and supplier relationships (Anon 2002b; 2003b, Baker and Sussman 1999). Emphasis on the broader impacts of ICT has been placed on airline-based Global Distribution Systems (GDS) and Computer Reservation Systems (CRS), Property Management Systems (PMS) and Destination Management Systems (DMS) (Milne and Ateljevic 2001). The latter have been used by enterprises to enhance performance in the global distribution channels that dominate international tourist flows, and to create seamless integration between internal technology use and the outside world (Go and Pine 1995; Gray et al, 2000). In simple terms, tools that facilitate the transmission of information and a level of interactivity between tourism operator and consumer are indispensable to each stage of the tourism value chain, especially when considering distribution and the ability to enter new markets (Buhalis 2001a, b). There are a number of ways that Information and Communications Technologies can enhance the performance of an accommodation enterprise and assist in gaining competitive advantage (Baker et al, 1999; Baum and Odgers 2001; Buhalis 2001c, Milne and Pohlmann 1998). These include; allowing a quicker response time to market and immediate processing of enquiries; integrating different applications to allow seamless processing with reduced error; sharing of resources; increasing capacity of work flow and worker productivity; customization and/or standardisation of key product offerings; flexibility and the adaptability needed to keep pace with the fast moving market, and the ability to creating communities of online suppliers and clients (Murphy 2003; Mutch 1998; Sigala et al 2001). The relationship with the customer can therefore be enhance at the information gathering and pre-arrival stage, during the arrival, check-in and stay stage, and also in the departure and post-stay stage. The ability to mine data gathered from clients and to measure the performance of individual workers and departments also makes it easier to benchmark, compare and contrast performance across global boundaries while also creating localized improvements (Van Hoof 1996, 2003). The accommodation businesses has this concern of improving market share and increase profitability as a result of providing a unique experience to customers with the accommodation structure located within an ecologically fragile natural environment. So it is very important that accommodation businesses adopt an environmental management scheme by adopting water conservation concept by reducing water usage mainly in areas where there are water shortage, energy conservation, for example the Hong Kong Guide identify a way for saving energy with the use of a computer which controls energy and even rooms in a way that as soon as a room is vacated and doors shut the light will shut automatically. Technological innovation is also depicted as an improvement in a product or service performance in terms of quality, cost, speed or number or characteristic (Cohen Levinthal, 1990). The technological innovation within the tourist accommodations activity has to capture the particular and differential features of sector, characterized by the nature of the service. According to Gallouj and Winstein (1997) there are some aspects that characterize service and have a great influence on the definition of technological innovation. Those can be relevant to the accommodation sector in the following ways: First, there is a close interaction between production and consumption (coterminality) that makes difficult the typical product and process manufacturing distinction. The coterminality implies that the innovation activities will focus on service individualization, adapting the service provided to the customer requirements. Moreover, the coterminality leads to a higher degree of service heterogeneity the exchange object differs from one case to another. Only institutional changes, effectively implemented as a business strategy, must be regarded as technological innovations, and not those spontaneously generated and derived from human interaction. This characteristic fits on the hotel set of services provided to their customers. The second is the intangibility and growing information contents in the provision of services. The information and communication technologies play a critical role in the innovation activities of tourist accommodation businesses: to reach the potential customers with information that helps to get the deeper understanding of the service purchased; to reach the largest share of the demand; to obtain and process the information for a better business performance. The role of human resources as a key competitive factor. The importance of the human factor in service activities is associated with the capability to establish the quality and features of the service finally provided. Training and education activities are explicitly considered as one way to improve and upgrade the technological capabilities of service companies. Changes in the organization architecture can be linked to the introduction of new technologies, and should be included as technological innovation activities. These organizational issues are relevant in the accommodation industry to fulfil the services requirements. As Weiermair (2001) notes, Information and Communication Technologies play an integral role in enabling tourism operators of all types to act local and think global. Information and Communication Technologies have been claimed by many commentators to be the backbone of the tourism industry (Wong 2001; McCann 2001; Applebee et al, 2000; Connolly and Olsen 2001) and accommodation is no exception to this rule. ICT is seen as a vital, and often somewhat overlooked, element that shapes and underpins management of operations, human resources, sale and marketing and accounting and finance (figure.1) Indeed ICT is seen more and more as an enabler of competitive improvements for both small and larger enterprises alike (Anckar Walden 2001; Gretzel and Fesenmaier, 2000). The tourism industry includes a wide range of activities such as restaurants, entertainment, transportation and accommodation. A rigorous and reliable analysis of the technological change focuses on one of these activities that include a homogeneous set of companies with similar production functions inputs, outputs and available technology and market environment. The homogeneity of the available data and the relative importance within the industry, make advisable to choose the hospitality business as the field of the study. The lodging sector is an outstanding tourist activity since is a sine qua non in the provision of all the other tourism services, being the basic requirement of the tourist at the destination point. Figure 1: The integral role of ICT in the accommodation sector (Connolly and Olsen, 2001, 87) Connolly and Olsen, 2001, 87) Within New Zealand, like elsewhere around the world, the government and major telecommunications enterprises have a vital role to play in providing the connectivity and bandwidth to support ICT uptake and effective use in business (e.g. Ministry of Economic Development Project Probe initiative) and in which industry and business leaders to build capabilities (a key objectives of the eCommerce Action Team ECAT). As Nodder (2003) notes, however, these initiatives have often highlighted the needs of large businesses, sometimes overlooking the SME that are vital to sectors such as accommodation. 1.6 The New Zealand accommodation industry an overview The New Zealand accommodation industry is made up of a range of segments and is not an easy sector to define. The researcher begin this section with a short discussion of definitional issues revolving around accommodation type and size, then address issues related to the sectors overall size, economic value and geographical structure. Defining accommodation and size The key elements are defined below and are based on the descriptions provided by one of the nations leading providers of accommodation based information the Automobile Association (see www.aatravel.co.nz):  Ã‚ ¬ Hotels: includes both hotels and resorts Hotels of world class standard are found in major cities, leading provincial and resort areas. They have bar and restaurant facilities. Rooms have phone and TV, toilet, bath/shower facilities and usually have tea/coffee making facilities. Country hotels and pubs offer clean, pleasant rooms. Hotels and pub can refer to taverns without accommodation. Some sporting lodges and upmarket resorts offer exclusive hideaway location with top-class facilities.  Ã‚ ¬ Motels: includes motor inn, apartments and motels These are a popular form of accommodation for domestic travellers and family groups as most units offer self catering facilities. They also have phone. TV tea/coffee, bathrooms and toilet facilities; they have made up beds, bedding and parking. Breakfast can usually be ordered at an extra cost.  Ã‚ ¬ Hosted: includes private hotels, guesthouses, bed and breakfast, and holiday farm (farm stay) accommodation Guesthouses may sometimes be in restored older buildings, not all include breakfast. Private hotel means no liquor license. Home-stay and farm-stay normally means accommodation is available in the family house, though a separate annex or cottage may be included. Bathroom may be separate or shared. Guests may share home cooked meals with their hosts or fellow travellers, breakfast is usually included in the tariff, and other meals are sometimes available by prior arrangement.  Ã‚ ¬ Backpackers/Hostels Generally independently owned, with an emphasis on enabling travellers to mix and mingle. Most offer a mix of shared rooms (dormitories) and double/twin/single rooms. Prices can start as low as $15. The focus market for this group is often younger independent travellers.  Ã‚ ¬ Caravan parks/Camping grounds. Tent sites, caravan sites, campervan sites etc with central toilet facilities and recreational facilities (games, TV rooms), some also offer onsite cabins which offer beds and a roof but little more, some are more upmarket with ensuite facilities, TV etc. Industry Characteristics The New Zealand accommodation sector continues to grow although periods of International uncertainty and domestic overseas economic fluctuations have impacts on the industry from time to time. Although there are some sectoral fluctuations overall trends in occupancy rates have been rising during the past five years (Figure 2). The relatively robust nature of the industry is underlined by the fact that during this period the global tourism industry has faced some of its most challenging times with the spectre of terrorism and health related pandemics creating a major downswing in international arrivals for several developed and developing nations. Figure2: Five years trends in accommodation sector occupancy rates (Source: Statistics New Zealand, 2004) Performance in the past year has been steady with most segments of the industry showing little growth. The overall occupancy rate for February 2004, excluding Caravan parks/camping grounds, was 69 percent, the same rate as that recorded a year earlier (Table 3.1). Hotels and motels both recorded rates of 72 percent in February 2004, while backpackers/hostels recorded a rate of 63 percent. Four of the five accommodation types recorded increases in guest nights in February 2004 compared with February 2003. Total guest nights in short-term commercial accommodation were 3.2 million in February 2004, a 3% increase compared with February 2003 and 10% increase compared with February 2002. Motels (up 53,000 or 5 percent) recorded the largest absolute increase in guest nights, followed by backpackers/hostels (up 41,000 or 11 percent). Motels had the largest share of total guest nights in February 2004 with 33 percent, followed by hotels with 30 percent and caravan parks/camping grounds with 2 2 percent. 1.7 CONCLUSIONS This research has highlighted a number of key issues in the relationship between ICT adoption and accommodation use/demand in the New Zealand hotel sector. The main findings can be summarised as follows: In common with other parts of the world, the New Zealand accommodation sector is becoming increasingly reliant on ICT. Large hotels have already invested heavily and are now enhancing and fine-tuning their use of more mature technologies. For small operations the take-off in ICT use has occurred more recently. Future investment in ICT is unlikely to slow. The Internet and the use of on-line information by consumers and suppliers are playing a major role in influencing overall accommodation industry performance and organisation. The impact of on-line booking is being felt across all segments of the industry. As the Internet evolves into a single, powerful information highway supported by diverse technology applications, there will be many opportunities for more flexible and efficient sales processes, data-warehousing, customized service provision and labour monitoring. 1.8 RECOMMENDATION While ICT will continue to improve efficiency and reduce cost in the large accommodation sector its main role in the future is seen as the facilitation, provision, and monitoring of service quality and the blurring of divisions between departments and different properties. There is a clear sense that technologys major impact on job reduction has already occurred. There is a real need for workers to have a deeper understanding of not just the technology itself, but also of how the technology is embedded within overall business operations and performance. The task of the improving service and performance through ICT adoption in accommodation organizations is complex. The implementation of technology may very well assist in improving service quality but research shows quite clearly that technology and information alone do not confer competitive advantage. If managers want to convert ICT investments into real service quality and performance improvements they must understand its links to, and impacts on, workers, managers and suppliers. In simple term the work of managers is becoming more complex and they too increasingly require a deeper understanding of ICT as a business tool and its potential applications in the business setting. In recent years accommodation businesses have been influenced by substantial ICT change, both from within and outside the industry. The experience gained in recovering from adverse impacts, or from adapting to take advantage of new opportunities, has been hard won. Lessons learnt from such valuable experiences need to be shared to ensure the continued development of the industry. At the same time it is clear that the role of ICT in the industry will grow and evolve in the next few decades, bringing with it a range of new labour and training need. There is widespread consensus that formal training in the sector falls short of the evolving industry requirements for skilled workers. Hotel and tourism schools appear to be having problems keeping up with technological changes which require. In concluding the researcher is of the opinion that there is a need to better facilitate access to training programmes for operators, their staff, and cluster organisations. Improved feedback to industry on tourism demand and supply trends is required, and the establishment of formalised communication between tourist and tertiary providers is increasingly necessary. Recent initiatives highlighted in the Tourism Strategy will certainly help to overcome these issues. It will also be important to monitor the efforts made by groups like the CTC in Canada and Service Skills Victoria in Australia, as they establish new bodies that link the accommodation industry and training providers together to lead workforce development for the sector. Such bodies have the potential to assist industries, enterprises, and their workforce to integrate skills development with business goals. Based on the above role of ICT in the hotel industry, the impact of ICT on the accommodation sector can not be measured. Words count 4,286

Evaluating the Historical Capital Budgeting Method Essay

Currently AES employs Project Finance Framework. Project finance tends to be used in projects with tangible assets with predictable cash flows in which construction and operating targets can be easily established through explicit contract. The key to AES projects financing lies with the precise forecasting of cash flows. In effect, the possibility of estimating cash flows with an acceptable level of uncertainty allows for allocation of risks among various interested parties. The ensuing certainty in cash flows allows for high level of leverage and enables project assets to be separated from the parent company. Let us now take a closer look at the pros and cons of the Capital Budgeting System currently in place. Principal Advantages Non-Recourse The separation of the parent company is structured through the creation of a Special Purpose Vehicle (SPV). This SPV is the formal borrower under all loan documents so that in event of default or bankruptcy AES is not directly responsible before financial creditors. Instead, their legal claims are against the SPV assets. Maximize Leverage Currently AES seeks to finance the cost of development and construction of the project on highly leveraged basis. High leveraged in non-recourse project financing permits AES to put less in capital to put at risk permits AES to finance the project without diluting its equity investment in the project. Off-Balance Sheet Treatment AES may not be required to report any of the project debt on its balance sheet because such debt is non-recourse. Off balance sheet treatment can have the added practical benefit of helping the AES comply with covenants and restriction relating to borrowing funds contained in loan agreements to which AES is also a party. Agency Cost The agency costs of free cash flow are reduced. Management incentives are to project performance. Most importantly close monitoring by investors is facilitated. Multilateral Financial Institutions One of the four constituents that have contractual arrangement with the SPV in a typical project are the banks (an integral part group of financiers that include share holders, insurers, equipment manufacturers, export credit agencies and funds). Among these banks there are multilateral financial institutions (like IFC, CAF and etc). Presence of these institutions as financiers helps in raising capital from these institutes at lower cost and secondly it is also read as a positive sign by commercial banks. Drawbacks Projects V/S Division The company is not only expanding its geographical boundaries, but it is also diversifying its business through backward and forward integration. The current financial model does not provide the AES with the big picture, which now constitutes more number of variables that are being influenced by multiple factors due to the increase in depth and breadth of the organization. Complexity Financing of projects requires involvement of a number of parties. They can be quite complex and can be expensive to arrange. Secondly it demands greater amount of management time. Macroeconomic Risk The current methodology employed by AES for capital budgeting does not take into account the exchange rate risk. This risk will be of higher magnitude in the developing countries because of their unstable monetary and fiscal policies[2]. As we have seen that fluctuation in exchange rate has greatly hurt the AES business and they were unable to mitigate this risk as they haven’t anticipated it. This risk becomes important when the exchange rate fluctuation affects balance sheet items unequally. Thus keeping check on the foreign exchange rate requires timely adjustment of both the items of revenue and expenditure, and those of assets and liabilities in different currencies. Political Risk: This is another important factor which the current financial management system does not take into account. This will be of significant importance when it comes to investing in developing countries where frequent changes in government policies occur. Does this system make sense? The financial strategy employed by AES was historically based on project finance. This approach solely took into account those factors that minimized AES exposure to the project and achieved the most beneficial regulatory treatment thus ensuring availability of financial resources to complete the project. The model worked well for the domestic market as well as for the international operations, provided the opportunities undertook by AES were either in the sector of building and running a power plant or simply buying an existing facility and upgrading it and then operating. The underlying assumption over here was that the symmetrical and asymmetrical risks faced by the project were more or less same irrespective of its geographical location (Refer to Exhibit 3). However when AES started diversifying the breadth of its operations by incorporating other offshoots of energy related business and transforming from a cogeneration to a more utility organization with majority of expansion occurring in developing economies. This diversification of business increased the symmetrical risks like business risk, a classic example of which we see in Brazil where AES experience shortfall in demand /sales volume due to Energy Conservation Policy of Brazilian government and this had a chain effect on debt servicing capacity of the SPV as well the stock price of the parent company. Other factor that current model was not able to include was the risk of devaluation of currency in developing economies which resulted in significant losses due to the inability of the company to survive its international debt obligations. Expansion in developing economies also exposed the business to political risk where the policies change erratically with changes in government. Hence we see that the geographical diversification of business causes asymmetrical risk to increase causing bimodal behavior in the result. Project financing becomes less recommendable as a symmetrical risk becomes more manifest. This constitutes a problem for emerging countries where these risks tends to be at the forefront. Lal Pir Project Valuation Scenario 1: Pakistan In order to calculate the value of project for the Lal Pir project in Pakistan, we first need to calculate the Weighted Average Cost of Capital (WACC) using the new proposed methodology. For this we have followed the approach given in exhibit 8 of the case. The first step is to calculate the value of levered ? using the formula and information given in the case[3]. The value of the levered ? comes out to be 0. 3852 or 38. 52%, which essentially means that our project is not very highly correlated to the market return. Using this value of ? we now calculate the cost of Equity (refer Exhibit 4A). We have used the return on U. S. Treasury Bond (i. e. 4. 5%) as the risk free return in calculating the cost of equity. The cost of equity comes out to be 0. 072 and similarly, using the risk free return and the default spread (given in exhibit 7a of case) we calculate the cost of debt which comes out to be 0. 0807. It is important to note that the cost of debt and the cost of equity also need to be adjusted for the sovereign spread (0. 0990 for Pakistan). Once we have the adjusted costs of equity and capital we can now calculate the WACC for the project using the formula given in case where we essentially multiply equity and debt ratio with the adjusted costs of equity and debt respectively[4]. The WACC in this scenario comes out to be 0. 1595 or 15. 95%. However, now we need to adjust this WACC for the risks associated with doing the project in Pakistan and we do this by using Table A given in the case. We know that the total Risk Score for Pakistan is 1. 425 and since there is a linear relationship between business specific risk scores and cost of capital[5] we need to adjust our WACC by 7. 125% thus making our final WACC 23. 075%, using which we calculate our NPV (refer to Exhibit 6) from the year 2004 to 2023, and it comes out to be negative $234. 34 million. Scenario 2: USA For USA similar calculations are made to calculate the WACC (Exhibit 4B). However there are two things that are different. First we see the sovereign spread is equal to zero. Secondly, in this case we would need to calculate the business risk using the information given in exhibit 7a of the case (refer to Exhibit 5). This score comes out to be 0. 64 and using this score, our business risk comes out to be 3. 23% and adding it to our calculated value of WACC, we get our final WACC of 9. 64%. Using this we calculate our NPV for USA which comes out to be negative $ 35. 92 million (refer to Exhibit 7). Adjusted Cost of Capital and Probabilities of Real Events in Pakistan In calculating the adjusted cost of capital for Pakistan the WACC is adjusted for six common types of risks: Operational, Counterparty, Regulatory, Construction, Commodity, Currency and Legal. We can clearly see from table A given in the case that besides construction there is a probability of all these risks actually effecting the project in Pakistan. In these, the highest probability is that of currency risk and the legal risk. The adjusted cost that we have calculated is adjusted by the total risk score for Pakistan. There is a linear relationship between the total risk score and adjustment to the cost of capital, i. e. a score of 1 leads to an adjustment of 500 basis points in the WACC. When we calculate the WACC for Pakistan through traditional formula it comes out to be 15. 95%, however in order to incorporate the risk factor associated with Pakistan we need to adjust it for the Total Risk Score, which in this case is 1. 425. So we simply multiply this by 500 and we find out that we need to adjust our WACC 23. 075%. Since this 23. 075% is adjusted using the total risk score we can safely assume that it incorporates for the probability of the afro-mentioned six types of risks in WACC with respect to Pakistan. Discount Rate Adjustment: USA v/s Pakistan As mentioned earlier the discount rate is adjusted based on the total risk score of the country. This total risk score is compiled from 6 main types of risks, the probability of which varies from country to country. If we simply compare the risk scores for USA and Pakistan[6], we can see that there is a major difference between the risk profiles of both the countries. For instance, while currency, regulatory and legal risks are significantly high in Pakistan, they do not exist in the USA at all. Also we see that operational, counterparty and commodity risks are higher in USA as compared to Pakistan. Similarly when the respective WACCs of the two countries are adjusted for their risk we see that the adjusted WACC for Pakistan (23. 075%) is much higher as opposed to that of USA (9. 64%), which essentially implies that Pakistan is inherently a riskier country to invest in as opposed to the USA and any investments made in this region would have to cross a higher hurdle rate than if they were made in the US region.

History: Indentured Servant and New England Colonies

Wessell Webling like many who wanted to leave England in search of the better promised life in the colonies could not afford the oversea voyage. In exchange for the cost of the trip Webling became the indentured servant to Edward Bennett. Webling was to provide 3 years of servitude, and Bennett was to provide him with ample and substantial food and drink, proper shelter and good clothes to wear. During Webling's period of indenture he among many helped in the expanding of the English settlement, clearing new land for landowners. Through this time Webling was taught many valuable skills to prepare him for his life as a landowner after his term was completed. When three years was up, Bennett was to provide Webling with 50 acres of land in the Virginia colonies and all the necessary clothes needed. For this, Webling was to pay Bennett 50 shillings a year thereafter. In the Virginia colonies there was a lot of land to be colonized but not enough people to do so. The plan was to have the wealthier colonists provide the funds for the trip, and in return the person would be indentured for a period of 3 to 7 years. During their serve periods they were taught how to become successful landowners. When their terms were complete they were given all the tools and thing they needed to provide for themselves and their families and to do the same for the next person. Landowners gave their indentured servants such generous rewards because they knew that population growth was essential and migration was the best way to accomplish this goal. The author used this source to explain the differences between the Chesapeake region and the New England colonies. He showed that when people migrated to the New World in family units mostly settled in the New England colonies and the Chesapeake colonies were young indenture servants who had to work to pay back to cost of the passage. He also used the source to illustrate the reason the population growth was declining in the Chesapeake colonies, people were too old after their terms of indenture to start families. The Author is correct in how he uses the source as a personal first hand account of the type contracts that were used to ensure that the people who migrated fulfilled their full terms of indenture and after they did so they would receive the tools the needed to become successful farmers. It was a good example of how the two colonies were vastly different because of the lack of a family structure in the Chesapeake colonies. Wessell Webling: His Indenture (1622) Alycia M. Haynes History 231-08 Professor Tate 19 February 2009

1984 Cuckoos Nest Comparison Essay - 2085 Words

1984 vs. One Flew Over the Cuckoo’s Nest In a totalitarian country, any ordinary citizen’s powers are limited, if at all possible. Although any individual is treated like a part of the society, he has no chances to play a vital role in it. A person is to follow officially dispersed propaganda and obey the rules, which intend to control everything. The totalitarian system uses any means including manipulation, intimidation and even the worst forms of repression just to achieve the main goal - staying in power. George Orwell’s 1984 and Ken Kesey’s One Flew Over the Cuckoo’s Nest are very similar novels which describe two different societies being mainly focused on individuals opposing the existing systems. In Orwell’s novel, the†¦show more content†¦Nurse Ratched and Big Brother have many similarities in their deeds - they are able to constantly monitor others and execute their powers. The actions of the nurse towards her patients are crude and inhumane. The big difference, however, between these two leaders lie in the achieving of their goals. While Big Brother manages to get his aims realized, Nurse Ratched is deprived of it, by the brave actions of the patients. The patients try to deprive her of feeling of being a dominant dictator. Both, Big Brother and Nurse Ratched seem to be powerful leaders, and integral part of a system, their unconditional control causes a negative impact on a person’s mind. The setting of Orwell’s novel, 1984, is placed back to the times in the State of Oceania. The social structure is strictly divided into three groups: The Inner Party Members, Outer Party Members, and the meaningless Proles. The Inner Party Members live fancy lives, they have access to wine, as well as real coffee, tea and cigarettes with good tobacco (Orwell 178), they keep all member of Outer Party under close supervision, while Proles â€Å"must be kept in subjection, like animals†(Orwell 74). It is extremely important for the rest of the population to think that they live in good conditions and that everyone is equal. As a result, no Outer Party member or Prole may venture into the Inner Party. The patients of the Mental Institution that is set in Oregona, are also divided into groups: theShow MoreRelatedEssay Prompts4057 Words   |  17 PagesAP ENGLISH LIT AND COMP FREE RESPONSE QUESTIONS 2004 (Form A): Critic Roland Barthes has said, â€Å"Literature is the question minus the answer.† Choose a novel or play and, considering Barthes’ Observation, write an essay in which you analyze a central question the work raises and the extent to which it offers any answers. Explain how the author’s treatment of this question affects your understanding of the work as a whole. Avoid mere plot summary. You may select a work from the list below or another