Road Mapping Emergence Of The Cell Phone - 1786 Words

Road mapping emergence of the cell phone Trimonisha Das The Australian National University, u5549946@anu.edu.au Abstract - The purpose of this document is to investigate the innovation path for a particular product or service of interest to the author and develop the emergence roadmap followed to realise its commercial success. The emergence of cell phones has been identified as such a case study in this paper. Keywords – Technology evolution, innovation, cellular phone, emergence road mapping. INTRODUCTION TO MOBILE PHONES Wireless communication has come a long way since weighing around 1.1 kg in 1983 to the myriad of smartphones available in the market today that are lightweight and loaded with endless features. But it all began towards the 20th century, when telegraph and radio technology were evolving tremendously. The transatlantic telegraph was built by 1866. An affinity towards wireless communication was growing for a number of reasons: (i) Increased mobility. (ii) No wiring. (iii) Remote access. (iv) Innovative solution. (v) Defence strategies. The concept of mobile phones is based on a very sophisticated radio. Mobile phones have power-run transmitters in them. This power is supplied by a battery. A low power phone requires smaller battery that allows use of hand-held sets, which are not overly bulky. Transmitters convert voice/sound into electrical signals sent over a frequency spectrum that are received at the station and converted back to the originalShow MoreRelatedLong Tail Theory Niche Tourism6548 Words   |  27 PagesLONG TAIL PHENOMENA For over two decades now, tourism researchers have been discussing tourism in the context of globalization and technological change. This has often been referred to as the new tourism, though it primarily has been about the emergence of niche market tourism. 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The Key Abilities Of Being A Successful Leader - 941 Words

I would define success as being trusted and respected by those who are in my life. Having gained the trust and respect of a person to me shows that I have been successful in my job as a leader, friend, parent, and partner. Having the trust and respect of others is one of the key abilities of being a successful leader. Having a positive influence on people is one of the many jobs of being an effective leader. In our book, Clement Stone is credited as saying, â€Å"Analyze your life in terms of its environment. Are the things around you helping you toward success – or are they holding you back?† The same can be said for the people in your life. Are they there to help guide you to be a better leader or are they holding back your abilities of becoming successful. 1. I work with several other teachers at my job. I have been there for less than a year and in that time have grown to trust many of them and consider them friends. Many times they have come to me looking for assistance and asking my advice on certain subjects. Having them come to me with these things makes me feel trusted and respected. A feeling that they value my opinion and truly trust what advice I may give them. A few months after starting with the school, I had a teacher come to me and ask for advice on a certain student and what I would recommend to help the child in the scenario they had given me. The fact that the other teacher felt comfortable coming to me and took my advice showed me that they trusted andShow MoreRelatedEstablishing A Leadership Philosophy Helps Guide Actions, Behaviors And Thoughts1728 Words   |  7 PagesAll leaders wield a certain significant level of influence within their organizations or over their followers based upon their own personal philosophy. Being a leader without considering on a personal level key values that one finds important can result in inconsistent outcomes. Establishing a leadership philosophy helps guide actions, behaviors and thoughts. A leadership philosophy is developed through a combination of internal and external forces that impact an individual over their lifetime.Read MoreTransformational Leadership : A Transformational Leader1240 Wo rds   |  5 PagesProductive transformational leadership abilities can easily be developed. A transformational leader has a trustworthy relationship with their followers. Having a strong bond between a leader and their followers can influence more productivity and incorporate more ethical practices. With this bond, the follower tends to put their best foot forward, taking full accountability for their actions because there is a sense of trust and honor. 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Advisers would say he is talkative to interviews with reporters because he usually answers as many questions as they want to ask, no matter how repetitive (Roughan 2014, p. 182). Being a prime minister for 8 years, he has done amazin gly awkward moments as a leader. In December 2012, he performed the Gangnam Style dance

Theft Free Essays

Sail 1 Baby Ball Mrs.. Adler English 101 30 August 2014 It Is not the desire to harm, but a harmful desire for self-improvement that will lead to the downfall of mankind. We will write a custom essay sample on Theft or any similar topic only for you Order Now We, as humans, observe something appealing and have an overwhelming urge to seize. Our longing for power, as well as property, has left devastation and destruction as the trail of bread crumbs leading directly to humans as the culprit. No other animal Is as entitled or greedy as humans. Whether It Is land or possessions we take, nothing Is off Limits for us to arrogate. Territory Is our most habitual subject for piracy, nearly every Inch of humanly populated terrain as been captivated by the hands of the selfish. By apprehending the region we are ousting the previous inhabitants, many of whom have nowhere in which to relocate. Those unable to readjust to their new surroundings parish, along with those too impassions to relinquish their familiar dwellings. After we claim ownership of the land we mistreat it, act surprised when the area becomes polluted or barren and often will abandon the previously advantageous province. Our disregard for what we have taken is insulting to those we forced to migrate and or killed in order to obtain more property. Though we seldom admit it, we are kleptomaniacs which is why so many of us shoplift or burgle. No one will notice so why not Just take it? Many of us do, without any consideration towards those whom we burglarize. Some of us steal things because we want to own the item(s) and some of us steal to sell the item(s) for a quick buck. What we did is not really wrong, it hardly affects anyone. Denial is our primary defense mechanism. Often Juvenile delinquents will utter the phrase, â€Å"Deny! Deny! Deny! † We deny our action or that our action had negative consequences, both out loud and to ourselves. We use denial to Justify what we have taken because, it was in the best interest of our country or because taking a particular item will not do much to pauperism the victim. Our denial has clouded our Judgment, causes severe damages to the ecosystems we take over, and prevents us from noticing that we need to make a change. It’s clean-up time. We have all desired, I have desired. I cannot repair the damages I have done with my desire, however, I can desire to live a less materialistic life, to be happy with the things that I do possess Instead of lusting after possessions of others. I can decide to evaluate my choices and moderate my behavior rather than denying them. I can decide. I decide to no longer be a thief. Theft By valiant It is not the desire to harm, but a harmful desire for self-improvement that will humans as the culprit. No other animal is as entitled or greedy as humans. Whether it is land or possessions we take, nothing is off limits for us to arrogate. Territory is our most habitual subject for piracy, nearly every inch of humanly populated terrain materialistic life, to be happy with the things that I do possess instead of lusting after How to cite Theft, Papers

Effect on the Economy free essay sample

Francis Mr. Joseph English 12 26 November 2012 War: Effect on Economy War has influenced economic history profoundly across time and space. Winners of wars have shaped economic institutions and trade patterns. Wars have influenced technological developments. Above all, recurring war has drained wealth, disrupted markets, and depressed economical growth. Wars are expensive (in money and other resources), destructive (of capital and human capital), and disruptive (of trade, resource availability, labor management). Large wars make up severe shocks to the economies of participating countries. Despite some positive aspects of short-term stimulation and long-term destruction and rebuilding, war generally impedes economic development and undermines wealth. Several specific economic effects of war recur across historical eras and locales. Next inflation, the most consistent short-term economic effect of war is to push up prices, and consequently to reduce living standards. This war-induced inflation was described in ancient China by the strategist Sun Tzu: Where the army is, prices are high; when prices raise the wealth of the people is exhausted (Tzu Sun, c. 00 BCE) His advice was to keep wars short and have the money in hand before assembling an army. Paying for wars is a central problem for states (see War Finance). This was especially true in early modern Europe (fifteenth to eighteenth centuries), when war relied heavily on mercenary forces. The king of Spain was advised that waging war required three things money, money, and more money. Spain and Portugal imported silver and gold from America to pay for armies, but in such large quantities that the value of these metals eventually eroded. One way governments pay for war is to raise taxes (which in turn reduces civilian spending and investment). U. S. revolutionary Thomas Paine warned in 1787 that war has but one thing certain, and that is to increase taxes. Another way to pay for war is to borrow money, which increases government debt, but war-related debts can drive states into bankruptcy as they did to Spain in 1557 and 1596. A third way to fund war is to print more currency, which fuels inflation. Inflation thus often acts as an indirect ax on a national economy to finance war. Industrial warfare, and especially the two World Wars, created inflationary pressures across large economies. Increasingly, governments mobilized entire societies for war conscripting labor, bidding up prices in markets for natural resources and industrial goods, and diverting capital and technology from civilian to military applications. World War I caused ruinous inflation as participants broke from the gold standard and issued currency freely. Inflation also accompanied the U. S. Civil War, World War II, and the Vietnam War, among others. War-induced inflation, although strongest in war zones, extends to distant belligerents, such as the United States in the World Wars, and, in major wars, even to neutral countries, owing to trade disruption and scarcities. Present-day wars continue to fuel inflation and drive currencies towards worthlessness. In Angolas civil war (1975-2002), for example, the government currency became so useless that an alternative hard currency bottles of beer came to replace it in many daily transactions. In addition to draining money and resources from participants economies, most wars create zones of intense destruction of capital such as farms, factories, and cities. These effects severely depress economic output. The famine and plague that accompanied the Thirty Years War (1618-48) killed as much as one-third of Germanys population, as mercenaries plundered civilians and civilians became mercenaries to try to survive. World War I reduced French production by nearly half, starved hundreds of thousands of Germans to death, and led to more than a decade of lower Soviet output. One estimate put World War Is total cost at $400 billion five times the value of everything in France and Belgium at the time. Battle casualties, war-induced epidemics, and other demographic disruptions have far-reaching effects. World War I contributed to the 1918 influenza epidemic that killed millions. Military forces in East Africa may have sparked the outbreak of what became a global AIDS epidemic. Quincy Wright estimates that at least 10 percent of deaths in modern civilization can be attributed directly or indirectly to war (Wright, 1942). The U. S. baby boom after World War II continues decades later to shape economic policy debates ranging from school budgets to social security. Wars also temporarily shake up gender relations (among other demographic variables), as when men leave home and women take war jobs to replenish the labor force, as in the Soviet Union, Britain, and the United States during World War II. Countries that can fight wars beyond their borders avoid the most costly destruction (though not the other costs of war). For example, the Dutch towards the end of the Thirty Years War, the British during the Napoleonic Wars, the Japanese in World War I, and the Americans in both World Wars enjoyed this relative insulation from wars destruction, which meanwhile weakened their economic rivals. Also, just as wars costs and outcomes affect economic conditions and evolution, so too do economic conditions and evolution affect war. Causality runs in both directions. For example, Dutch economic strengths in the early 17th century allowed fast and cheap production of ships, including warships. The resulting naval military advantage in turn supported Dutch long-distance trade. The wealth derived from that trade, in turn, let the Netherlands pay and train a professional standing army, which successfully sheltered the Netherlands from the ruinous Thirty Years War. This protection in turn let the Dutch expand their share of world trade at the expense of war-scarred rivals. Thus the evolutions of warfare and of world economic history are intertwined. War is the proximal cause of the recurring inflationary spikes that demarcate 50-year Kondratieff waves in the world economy. Those waves themselves continue to be controversial. However, they may have some predictive value to the extent they clarify the historical relationships between war and military spending on the one hand, and inflation and economic growth on the other. The 1990s mainly followed a predicted long-wave phase of sustained low inflation, renewed growth, and reduced great-power military conflict. If this pattern were to continue, the coming decade would see continued strong growth but new upward pressures on military spending and conflict, eventually leading to a new bout of inflation in the great-power economies. Since scholars do not agree on the mechanism or even the existence of long economic waves, however, such projections are of more academic than practical interest. The relationship between military spending and economic growth has also generated controversy. Despite its pump-priming potential in specific circumstances, as during the 1930s, military spending generally acts to slow economic growth, since it diverts capital and labor from more productive investment (such as in roads, schools, or basic research). During the Cold War, high ilitary spending contributed (among other causes) to the economic stagnation of the Soviet Union and the collapse of North Korea, whereas low military spending relative to GDP contributed to Japans growth and innovation. During the 1990s, as real military spending worldwide fell by about one-third, the United States and others reaped a peace dividend in sustained expansion. However, effects of military spending are long-term, and sharp reductions do not bring quick relief, as Russias experience since 1991 demonstrates. The global North-South divide a stark feature of the world economy is exacerbated by war. The dozens of wars currently in progress worldwide form an arc from the Andes through Africa to the Middle East and Caucasus, to South and Southeast Asia. In some of the worlds poorest countries, such as Sudan and Afghanistan, endemic warfare impedes economic development and produces grinding poverty, which in turn intensifies conflicts and fuels warfare. To conclude, you have read about the good and bad things of war effects on the economy. War has drained wealth, disrupted markets, and depressed economical growth. But, the winners of these wars often were rewarded from these wars. War is bad overall; I feel that war should be the last option for any country. Works Cited Washigntonsblog. â€Å"Proof that war is bad for the economy. † 24 Feb. 2012. lt; http://www. washingtonsblog. com/2012/02/debunking-the-myth-that-war-is-good-for-the-economy-once-and-for-all. htmlgt;. Symonds, Peter. â€Å"US wages over war†. 7 Oct. 2012. lt; http://www. globalresearch. ca/us-wages-economic-war-on-iran/5307485. gt; lt; http://www. joshuagoldstein. com/jgeconhi. htm. gt; lt;upsky2. triod. com/science/economics/waraffectseconomy. html. gt; lt;Www, joshuagoldstein. com/igeconhi. htm. gt;

International Expansion Analysis TripAdvisor Case Study

Introduction In the last few decades, the world has witnessed increased integration of the global economy, which has resulted in new opportunities for economic, and income growth. One of the significant driving forces is globalization as characterized by the production of goods and services, linked, and synchronized on a global scale thus opening significant opportunities in all regions.Advertising We will write a custom essay sample on International Expansion Analysis: TripAdvisor Case Study specifically for you for only $16.05 $11/page Learn More Therefore, as a company that aspires to internationalize its business operations, TripAdvisor has been motivated to expand into foreign markets such as China and Germany due to the looming market opportunities. Furthermore, there are various factors including the size of the company, its leverage, market saturation, and the overall market conditions that have made TripAdvisor to globalize its business and oper ations to such foreign markets. In that respect, the purpose of this paper is to focus on the international expansion of TripAdvisor in countries like China and Germany. The paper analyzes the motivations for international expansion based three theories namely the product cycle theory, imperfect market theory and theory of comparative advantage. A risk analysis of the countries where TripAdvisor wants to expand its business operations is also carried out. Besides, an analysis of the possible financing sources for TripAdvisor expansion is performed and an estimate of the cost of capital for TripAdvisor expansion project to China offered in the report. International Expansion Analysis for the TripAdvisor In February 2000, Palka Tom, Shanny Nick, Steinert Langley, and Kaufer founded TripAdvisor Company. After the company started to generate some profits in the fiscal 2002, the management began to expand its business operations to the United States and other parts of the European market s. hese markets attracted the company due to several reasons: (1) the regions had very large customer base, (2) the local residents who had travelled considered themselves risk-takers, (3) the market was fragmented and (4) the potential customers could be identified with regions. Theory of comparative advantage In international trade, the comparative advantage theory appears to be amongst the most imperative concepts that can be used to analyze global business operations for a company like TripAdvisor. Given that TripAdvisor yearns to increase its profits, expanding its global operations to a country like China will help the company to minimize the cost of operations. First, China offers cheap labor or inexpensive raw materials that TripAdvisor can use to help it minimize the incurred expenses. Second, unlike other companies such as eBay and Yahoo that failed to prosper in these new markets, TripAdvisor is financially leveraged and can successfully set its presence in Chinese and Ge rmany.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Besides, the overall market condition in Italy, Spain, and France where TripAdvisor operates is saturated and the two countries offer ready markets for this company to take advantage of and dominate the world largest travel sites (Tallman, 2010). Given that Germany and China are tourism destinations, TripAdvisor core businesses including displaying restaurants, inns, breakfast and beds, as well as attractions founded on reviews generated from the users can possibly surpass those offered by rival corporations (Luo, 1999). Thus, since the market conditions in Europe are currently saturated and unfavorable while the market conditions in China and German are favorable, TripAdvisor has been motivated to seek international expansion into the later countries. Imperfect market theory Spain, France, and Italy are some of the markets where busine ss operations information is hardly divulged to all market participants due to the level of market competitions. However, despite the fact that online travel booking consumers in China are few, the general market conditions are favorable and market information is accessible to all market participants. In fact, acquiring information on market operations in Germany and China is inexpensive and this is an addition international expansion advantage for TripAdvisor Corporation (TripAdvisor, 2009). The online travel markets found in China and German are managed and regulated by responsible authorities hence the prices for the travel market services and goods are not controlled by a single or many sellers. The Chinese and German markets are leveraged and companies such as Monster, About.com, eBay, Yahoo, and Google could not thrive under the prevailing situations. Product cycle theory Most literature on international expansion strategies assert that corporations that aspire to go global mu st first establish themselves domestically prior to going international (Wald, 1999). This implies that, TripAdvisor Corporation has been serving the local markets for more than ten years. In fact, TripAdvisor Corporation has offered the online travel market services and goods to the locals since its introduction through to the growth stage, maturity stage, and the declining phase. Having been famous at the domestic level, TripAdvisor is obliged to expand its business and market operations to the overseas countries like China and Germany in order to accomplish its service provision demands in foreign markets (Harrison John, 2009).Advertising We will write a custom essay sample on International Expansion Analysis: TripAdvisor Case Study specifically for you for only $16.05 $11/page Learn More Thus, the need to start from service introduction through to the declining stage is amongst the motivations that drive TripAdvisor Company to seek for internationa l business and market expansion in these foreign lands. That is, TripAdvisor aspires to introduce its online travelling market services in areas where it presence has not been felt. TripAdvisor possible expansion in Germany and China Before expanding its business operations into countries such as Germany and China, TripAdvisor must put into consideration numerous risks factors prior to deciding the region that offers lucrative business opportunities. However, both countries present different business and market environments in terms of fluctuations in global currencies, political and economic instabilities, as well as cultural and religious influences (Kirsner, 2010). The overall fluctuation of German and Chinese currencies is a major factor that might affect the development of TripAdvisor into these market economies. Equated to other nations such as Japan, France, and Italy this situation might cause strain in revenues and operating incomes in both Germany and China. Moreover, ther e is political polarization in some Chinese market regions where TripAdvisor intends operate. In China, policies regarding minimum wages are observed strictly unlike in German environs and this is intended to shun infringing labor rights. Monetization is a general challenge in China in that only limited success is evident in all businesses listed in the recent stock exchange. However, policies relating to foreign business are accommodative in both Germany and China such that it is easy for TripAdvisor to operate smoothly with minimum risks (Harteveldt, 2009). Generally, German consumers get encouraged to consume TripAdvisor products as currencies are stronger and the rates of interest are low in Germany than in China. The political parties in both Germany and China are in the forefront to make sure that the business environment is stable. Even during the economic slump periods, TripAdvisor intends to charge reasonable prices on its products to its customers in both countries. Given that its services are locally as well as globally oriented, it is advantageous for TripAdvisor to work in all areas across China and Germany (Gupta Herman, 2011). In contrary, its services can best be expanded to Germany than in China given that inflation in Germany is lower than in China whilst income rates for both countries are high. Germany and China uphold societal status and strong cultural practices hence TripAdvisor in its bid to expand its operations in these regions is likely to encounter cultural challenges (Madura, 2011).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In fact, to suit the general population standards of living TripAdvisor will have to upgrade its services to suit the cultural needs of the Chinese and Germans. Unlike China, Germany offers odd and flexible working hours thus making clienteles to access TripAdvisor online travel market services anytime. Recommendation TripAdvisor Corp has been conducting its online travel business operations in different foreign markets. However, the market entry modes depend on the type and nature of the market environment where the company wants to initiate its online business operations (Hill Jones, 2007). Since there are entrenched firms offering almost similar online travel products and services such as text links, business listings, and display advertising in China, the Chinese market is very competitive. Thus, to avoid encountering market entry barriers, competition and business challenges, it is prudent that TripAdvisor Corporation should seek a strategic alliance or merge with one of the l eading domestic online travel and service-offering firms based in China (TripAdvisor, 2010). The strategy will help TripAdvisor to avoid incidences of price competitions, tariff and market entry barriers, as well as have access to the locally available cheap raw materials and labour.  TripAdvisor Company should employ some competent Chinese managers to help it run the corporation in the Chinese environment. This follows the fact that Chinese managers are well conversant with the demands of the Chinese products consumers and the level of market competition. Besides, the managers will assist the company to abide by the culturally sensitive issues as well as the business operation regulations in China (Rappaport, 1986). Finally, TripAdvisor should minimize its costs of operations through hiring the cheap locally available labor and offer online travel market services at reduced prices to capture a larger market segment. Analysis of the financing sources for TripAdvisor expansion In o rder to go global, some of the possible financing sources for TripAdvisor include debt, and equity financing. However, one major challenge companies like TripAdvisor face is the choice made regarding the capital structure (Hutchinson, 1995). However, TripAdvisor is set free by its financial management to choose amongst the many alternative capital structures. For instance, as a globally recognized company, TripAdvisor can either opt to issue large amounts of debts or even very little debt. Moreover, the company has the option of arranging for the lease financing, issue convertible bonds, sign forward contracts, trade in bond swaps or use warrants. It can as well issue dozens of discrete securities in myriad combinations (Pinkowitz, Rohan Rene, 2007). Based on capital structure theory that was developed by Modigliani and Miller, it is evident that the capital structure adopted by TripAdvisor will greatly influence its mutual profitability. Hence, it is essential to find the imperati ve factors, which influence this company’s choice of leverage. In most cases, TripAdvisor capital structure constitutes collateralized assets, which include assets, equity such as the hybrid capital, minority interest, subscribed capital, and reserves. Finally, the last groups within TripAdvisor capital structure are the financial liabilities (Graham Harvey, 2001). The global expansion funding for TripAdvisor venture will accrue from the owner’s equity investments available in form of loan (Titman Wessels, 1988). Capital for TripAdvisor expansion project to China WACC for TripAdvisor is the average cost that the company incurs derived from the investors’ capital and it incorporates a given combination of equity or debt (Fama French, 1998). Founded on the WACC principle, the capital costs always depict pre-tax costs for instance, costs incurred before investing and corporate taxes. To ensure that it operates efficiently, TripAdvisor should apply CAPM to monito r and further reduce its costs in its international expansion operations (Grossman Hart, 1982). TripAdvisor CAPM is given by rj=rf + ÃŽ ²j(rm-rf) where rj = required return on a security; rf = risk-free rate of return; ßj = beta coefficient for the security and rm = required return on the market portfolio. Taking ÃŽ ²j=1.93; rm=10% and rf=4%, rj= 0.04 + 1.93 (0.10-0.04) =0.16. The required return on market portfolio for TripAdvisor in the first fiscal year will be 16%. Conclusion The cost of capital determined using WACC principle corresponds to a similar tax level equivalent to the earnings underlying that are normally included in the returns on the invested capital (Gaver Gaver, 1993). From the computed WACC in the appendices, it is expected that the cost of capital for an international project will be higher than that of a domestic venture. This follows the fact that there are risks associated with international operations including volatility or high gearing which results i nto high earnings volatility (Gleason, Lynnette. Mathur, 2000). Thus, shareholders demand that the company achieve higher return targets for purposes of financial risks. Nevertheless, TripAdvisor Corporation gearing should utilize cheaper debt finance as well as trade-offs between riskier capital structure and cheaper finance. The cost of equity integrated into WACC reproduces the returns expected by the investors from TripAdvisor shares. Moreover, the costs of outside capital depend on the average borrowing cost of TripAdvisor (Booth et al., 2001). References Booth, L., Asili, D., Varouj, A. Maksimovic, V. (2001). Capital structure in developing countries. Journal of Finance, 56(4), 87-130. Fama, E. French, K. (1998). Taxes, financing decisions, and firm value. Journal of Finance, 53(1), 819-43. Gaver, J. Gaver, K. (1993). Additional evidence on the association between the investment opportunity set and corporate financing, dividend, and compensation policies, Journal of Accoun ting and Economics, 16(3), p.125-140. Gleason, K., Lynnette, K. Mathur, I. (2000). The interrelationship between culture, capital structure, and performance: evidence from European retailers. Journal of Business Research, 50(4), 185-91. Graham J. Harvey, C. (2001).The theory and practice of corporate finance: evidence from the field. Journal of Financial Economics, 60(2), 187-243. Grossman, S. Hart, O. (1982). Corporate financial structure and managerial incentives: The eco of information and uncertainty. Chicago, US: University of Chicago Press. Gupta, S. Herman, K. (2011). TripAdvisor. Harvard Business School Publishing. Boston, MA. Harrison, J. John, C. (2009). Foundations in strategic management. Boston, MA: Cengage Learning. Harteveldt, H. (2009). Why travellers contribute ratings, reviews and more online. Forester, September 10, 2009. Hill, C. Jones, G. (2007). Strategic management: An integrated approach. Boston, MA: Cengage Learning. Hutchinson, R. (1995). The capital structure and investment decisions of the small owner-managed firm: some explanatory issues. Small Business Economics, I7 (3), 231-9. Kirsner, S. (2010). Google acquires ITA software: The background briefing. Boston Globe, July 1, 2010. Luo, Y. (1999). Entry and cooperative strategies in international business expansion. Westport, Connecticut: Greenwood Publishing Group. Madura, J. (2011). International financial management. Mason, OH: Southwestern Cengage Learning. Pinkowitz, L., Rohan, W. Rene, M. (2007). Cash holdings, dividend policy, and corporate governance: a cross-country analysis. Journal of Applied Corporate Finance, 19(2), 81-87. Rappaport, A. (1986). Selecting strategies that create shareholder value. Harvard Business Review, 1(2), 140. Tallman, S. (2010). Global strategy. Hoboken, New Jersey: John Wiley Sons. Titman, S. Wessels, R. (1988). The Determinant of capital structure choice. Journal of Finance, 1(43), 1-19. TripAdvisor (2009). TripAdvisor expands in China wi th agreement to acquire Kuxun.cn. Press News, August 12, 2009. TripAdvisor (2010). Fake TripAdvisor reviewers to be named and shamed. Daily Nation, October 27, 2010. Wald, J. (1999). How firm characteristics affect capital structure: an international comparison. The Journal of Financial Research, 1(22), 161-187. This essay on International Expansion Analysis: TripAdvisor Case Study was written and submitted by user Isabell Wilkinson 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.

Financial Outcomes Paper Essays (1249 words) - Dividends, Dividend

Financial Outcomes Paper Essays (1249 words) - Dividends, Dividend Financial Outcomes Paper FIN/419 October 26, 2015 Sarah Newton Introduction Dividends Dividends are meant to be a great thing for shareholders because this is when companies give out returns on the profit that was made throughout that year. There are three important things to consider with dividend such as dividend dates, the distribution date, record date, and the ex-distribution date. These dates tell shareholders when dividends will be distributed (distribution date), list of when shareholders that will receive a payout (record date), and a date for pending transactions to be completed (InvestorGuide, 2013). Apple is paying their shareholders a quarterly dividend but in comparison to other companies it is not nearly the amount as they should. In 2012 Apple made its first dividend payback in almost 17 years. Apple gave out 2.5 billion to shareholders quarterly and has been taken in 10 billion in cash flow quarterly. Now for the shareholder when trying to figure out whether or not to invest one must consider the product and the growth of the company. Jared Cummans fr om Dividend.com wrote an article in which he compared Apple to other companies. It should be to no surprise that Apple gave the least back to its shareholders while Intel paid 30-40% of its free cash flow and Microsoft paid out 20%. What does that say about Apples growth? Apple doesnt offer a low cost phone and companies like Samsung and Microsoft are killing the competition. How many ways can Apple reinvent the iPhone? Companies are appealing to the consumer when Samsung is creating an android phone that is lower in cost and does the same thing. We believe that profits Apple is buying back from its shareholders should be reinvested in creating a new, low cost products to consumers. This will increase Apples cash flow which will in return allow for larger payouts for shareholders. Beats- Positive or Negative Outcome? In todays financial market for a business to have continued growth and remain profitable they have to provide consumers with products and services that benefit their lifestyles. Many consumers have become attached to music services such as iTunes, Spotify, and Beats, Apple has seen that the market for this product and service has had a dramatic increase in the last ten years. By paying attention to global consumer trends they were able to acquire a company that related the music to the users choice, not only providing a service but products that enhanced their experience. When Apple decided to purchase Beats Music and Beats Electronics for three billion dollars, they attracted a large amount of attention from the technological industry. The co-founders of Beats, Dr. Dre and Iovine, had a small following of users for their live streaming service and a larger audience for their electronics that are satisfy both fashion and function. There is a problem however, with the acquisition of Beats they expected an increase in market share and that has not been the case. While their overall company shows The tremendous customer demand for our products and services in the March quarter drove revenue growth of 27 percent and EPS growth of 40 percent, ("Apple Reports Record Second Quarter Results", 2015). While many analysts say that they made a purchase unworthy of the sale price the group feels that the numbers agree with the prediction. This is a 19 billion dollar industry and digital music sales in iTunes were down even more nearly 14% worldwide in 2014 (Neiger, 2015). Its sales of books, music, movies, and TV shows in the iTunes Store actually declined by 4% for the third consecutive quarter, and 5% in the first six months of fiscal year 2015 (Neiger, 2015). The outcome of this decision has not led to extra profits for the company, but an overpriced acquisition that has yet to prove that it can increase their market share. Overall, this financial investment was overpriced and unwarranted as the revenue could be used toward research and development. This company has taken many risks financially, but since they have a new president his choices have limited the financial growth of the company and saddled it with companies that are not conducive to their growth. Capital Return- Apple Owned When a company returns capital it

Unit 2 -IP- The Legal Landscape Essay Example | Topics and Well Written Essays - 250 words

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Discuss the ethical issues in the Monsanto case Essay - 1

Discuss the ethical issues in the Monsanto case - Essay Example The company in the recent times has been involved in dictating on what the world consumes. The company has continued to generate many biotech crops. The company however has generated controversies in the world due to the issue of production of biotech crops that are produced and increasing the control of food supply by huge corporations. The company before getting involved in seed technology was involved in production of chemicals. Production of crops and new seeds through biotechnology by the company has predicted doubling of food production in the future meeting the food demand of the growing population. Food security will be maintained by the company. The company has also formed coalitions with other public researchers and charitable organization to focus on green revolution to allow conservation of the environment with production of more food and inventions to satisfy food need of the population. The organization has made itself to be in the leading dealing with advancement in global fight against hunger. Working with other organization in poor nations, the company helps to reach needy farmers. Moves that are made by the company is seen to be parallel to the commercial sales that are made by the organization. The organization upholds its principles by encouraging farmers that are in the poor nations and do not concentrate much in improving those in the wealthy nations. In the sales of the organization, sales of seeds and chemicals that are of high prices are done to countries that are wealthy (Forrestal, 2007). These products are sold to farmers in poor countries in low prices. The organization has been encouraged by the department of agriculture in the United States and the government to incorporate public institutions, foundations and academics to determine how the production can be improved to make food abundant globally. The company before getting involved in seed technology was involved in production

Walt Disney World and Its Organizations Essay Example | Topics and Well Written Essays - 1000 words

Walt Disney World and Its Organizations - Essay Example Since its formation, the company has produced many movies that have topped the US as well as UK charts (The Walt Disney Company, ‘Company Overview’). The paper includes the company’s mission and vision along with the company’s different subsidiaries. Mission and Vision of The Walt Disney Company The Walt Disney Company is an America based multinational company. Originally, the mission of The Walt Disney Company was to ‘nurture the imaginations of children around the world as well as to celebrate American values’ (Reocities, ‘The Walt Disney Company-a Case Study’). The mission itself states the company’s operations. Most of the company’s operations are children oriented. As it has been stated in their mission, the children are the main center of the organizational operations and even the various subsidiary activities organized by the company are entertainment as well as children oriented (The Walt Disney Company, ‘Company Overview’). However, the mission of the company has changed stating to be â€Å"one of the world’s leading producers and providers of entertainment and information. Using our portfolio of brands to differentiate our content, services and consumer products, we seek to develop the most creative, innovative and profitable entertainment experiences and related products in the world† (Duran & Et. Al., â€Å"The Walt Disney†).... The Walt Disney Studios The Walt Disney Studios can be considered as the foundation of Disney. This legendary company started its journey from this milestone. The Walt Disney Studios is renowned for its ‘animated features and live motion pictures’ (The Walt Disney Company, ‘Company Overview’). The characters it created include Mickey Mouse and friends, which are the animation legends. The company is considered to be the world’s very first full length animation creator with its created character Mickey Mouse and Snow White and the Seven Dwarfs (The Walt Disney Company, ‘Company Overview’). Distribution of motion pictures is done by The Walt Disney Studios under its allied organization, Walt Disney Pictures. Walt Disney Pictures includes its other allied companies such as DisneyToon Studios, Walt Disney Animation Studios, Touchstone Pictures, Hollywood Pictures and Pixar Animation Studios. The company had acquired the company, Pixar, in May of the year 2006. Walt Disney Studios Motion Pictures International is another segment of the company which operates in international distribution of the motion pictures. Walt Disney Studios Home Entertainment is the segment of the company which deals in distribution of the motion pictures of Disney as well as other movies through the means of rental and sells by home entertainment markets such as DVDs (The Walt Disney Company, ‘Company Overview’). The presence of The Walt Disney Company also can be marked in the theaters. The company owns Disney Theatrical Productions House which is also considered to be among the leading producers of the famous Broadway musicals. This also consists of

Etihad Airways Selection Techniques Analysis

Etihad Airways Selection Techniques Analysis In principle, to ensure that Etihad Airways company moves towards addressing differences in the work-force profile, such Project Manager Emirati Cabin Crew assistance should be available for any possible to ask who meets the basic requirements of the job. () On the other words, the job advertisement, which should be closely based on the person specification, where appropriate, includes detailed reason for significant professional individuals to seek. A mechanism for applications should be specified, which would generally be in the shape of a standard Project Manager Emirati Cabin Crew application form designed to obtain information relevant to the job. Furthermore, every applicant ought to obey through the application course of action. The selection decision should eventually be made by more than one person who has a thorough knowledge of the work required for the Project Manager Emirati Cabin Crew position. Moreover, a Selection Panel is, as a result, requisite, which ought to take account at least single person who has been trained in selection practices, furthermore understands Etihad Airways groups selection procedure. All members of the selection committee ought to be implicated in the short-listing procedures. () On the other hand, the candidate specification for the Project Manager Emirati Cabin Crew position will figure the starting point of the selection resolution. Additionally, records ought to be kept on the scope to which every nominee meets up the necessities of every feature of the nominee pattern. 3) Selecting Best Candidate: In todays changing environment, one of the biggest challenges facing Human and Resources Managers is recruiting and retaining employees with the right skills. For that reason, a framework of ethical practice, the Recruitment and Selection should be developed in conjunction with employers along with the specialists as an externally assessable tool to assist employers with recruitment issues. On the other hand, selection process is a later stage of the recruitment. Since, it involves choosing appropriate along with qualified applicants suited to the job. Moreover, selection is a social, interactive entertainment as well as skill development, which are recommended for the use of structured and tested methods to achieve objectivity, reliability along with reduced risk in addition to uncertainty. In Etihad Airways Company, many prospective interviewees might comprise the essential character for the effectual presentation of the Project Manager Emirati Cabin Crew occupation, but require experience or even credentials throughout not having appropriate chances. () For that reason, mare and more care ought to be taken, and so, in the specification of requirements of the Project Manager Emirati Cabin Crew post has to be ensured since statements of action in addition to type of event along with academic as well as training requirements are justified. The terms and conditions under which the Project Manager Emirati Cabin Crew position holder is to be engaged should be reliable with the present workforce policies of Etihad Airways Company. () Etihad Airways Company might use a merit-based way to optimize the potential for selecting the most suitable candidate for Project Manager Emirati Cabin Crew job. The method, which may be, used a combination of written application, behavioral based interview questions, testing or even presentations. This approach has been established in Etihad Airways Company to ensure the best possible selection moreover that there is not fairness on foundation unconnected to the necessities of the Project Manager Emirati Cabin Crew position. () On the other hand, each ignoring of such a situation ought to be sustained through a written depiction of the function as well as tasks of the same vacant position. Therefore, this will typically be in the appearance of an occupation description of the Project Manager Emirati Cabin Crew position. () Care is needed in their arrangements to ensure that all aspects are justified. On the other hand, such post description ought to be escorted through a comprehens ive individual requirement that will figure the foundation of whichever selection assessment for the appointment of Project Manager Emirati Cabin Crew. Since objectivity is hard to get through interview alone, a variety of selection manners may be established, extremely close based on the individual requirements for Project Manager Emirati Cabin Crew position, which may contain work-related tests or even assessments. Nevertheless, thought might be taken when selecting or even designing tests along with analyzing their results to make sure that they are available from unfairness. Interview questions might be chosen with care moreover, designed to obtain the information covered in the person specification. Particular attention should be taken to fill up using questions, which might indicate a desire to make a call into account inappropriate material. Interview format as well as contented should be applied consistently toward every candidates interviewed. Records might be held for every of the candidates which represent the position to which the requirements of the different parameters were met. Furthermore, these records might be kept for at least of six months following the selection. Candidates might want to take delivery of response about their performance in the selection process. Moreover, such feedback may only be provided with a reasonable person directly involved in the selection decision. The purpose of an interview is to obtain specific data from a candidate to resolve his or even her aptitude to carry out the occupation. However, successful interviewers learn how to use the right kind questions, how to avoid the candidate talking about facts data knowledge, moreover how to pay attention. A great deal of what is educated concerning candidates in an interview is found on their previous practices. On the other hand, past performance is the best indicator of future performance. Consequently, this does not signify that somebody who had carried out badly in the earlier period cannot enhance in skills as well as thoughts. Generally, however, It can be seen a change in working through specific jobs or assignments. () Sometimes interviewers believe that an applicant who has done somewhat has made it fine or that prolonged existence on a Project Manager Emirati Cabin Crew position is a sign of success. A credit record can corroborate the excellence of the work presentation. It is necessary to be well prepared when conducting the interview to ensure the recruitment process remains effective, clear and consistent, and to preserve the most suitable candidate for the position of the Project Manager Emirati Cabin Crew. 4) Candidate Orientation: Recruitment and selection grant managers to establish and steadily uplift the behavioral characteristics and the ability of the workforce. The appeal for most attention has focused on people with a preference for working through others as opposed to the individualist preferred by recruiters earlier. Attention has switched from testing lists of skills and abilities to broader-based competencies. In general, there is a greater concern for personal flexibility along with adaptability, a reorientation from the contribution towards future stability. Offer letters are contractual agreements between the employee and Etihad Airways Company. Therefore, considerable care should be taken to secure that the information contained in them is true also that all parties involved understand all of its components. The concern section or department should have approval from the management on all points contained in a proposal before it is extended. The same sector at Etihad Airways Company will be held liable for any prohibited items contained in offers. To avoid future confusion, departments at Etihad Airways Company, should take suitable documents for whichever obligations made to a nominee for the situation of the Project Manager Emirati Cabin Crew. It is much easier to maintain certification to submit to somewhat than depend on remembrance, particularly given that the propose might extent numerous years, additionally there may be a variety of sources. () This offer letter with the start date, title, work location, supervisor, and wages should be sent to the one selected, with a copy in the personnel files. Etihad Airways Company should respond in writing with an acceptance letter. Moreover, offer letters may serve as a legally binding contract. Therefore, it should be avoid terms such as permanent or career, these may cause significant strain. Hiring employees are like a business transaction, not terribly different from selecting supplies for Etihad Airways Company. When a need for supplies. Then it may be looked for merchandise that is of exceptional quality and an agreeable deal. Similarly, it is known what it may be needed in Etihad Airways Company; now it may be looked for someone whose skills and qualifications meet your business needs. A good way to improve the questioning technique is to examine. Practice the phrasing of questions prior to conducting interviews. Add some specific questions to the interviews and evaluate the types of responses it might be tried. Analysis each interview to learn how to improve the style. Good questioning skills can positively enhance the interviewing success. Taking the time to check references, it is worth it. Therefore, checking references can be a time consuming task as well Etihad Airways Company had abandoned the idea of doing some more than a cursory verification of a few facts. For that reason, the cost to Etihad Airways Company of a hiring error is harmful; it is preferable to take the time to get the right selection procedure in the primary situate. On the other hand, Etihad Airways programs provide challenging with unprecedented opportunities for shared reflection. In this way, such conduct creates in Etihad Airways learning surroundings contained by a compassionate impression, which in revolve carry about learning conclusion away from those of the classic cases in the Etihad Airways. () Given that such appearance which can be more sensible than replications, furthermore while it offers an opportunity for career through the same experience in the Etihad Airways, it proves extremely useful in training and complex situations where resistance to change is endemic or where an attitude of certain conservative thinking exists. () Moreover, Etihad Airways Provide a cost effective, best practice approaches to training and development through effective implementation of the new framework of qualifications of Etihad Airways staff. 5) Techniques Evaluation: In such case, we have a Project Manager Emirati Cabin Crew position, as a valid case, Etihad Airways Company strategic approach to hiring, retaining along with promoting staff has resulted in superior illustration at all ranks of the company. Etihad Airways Company supports local employees through its Emiratization Employee Networks. A Strategic Approach started at earlier stages by the senior leadership, Etihad Airways Company provides tools for managing employees, working with their supervisors to develop career paths, moreover, develop skills along with experiences that work toward achieving their career aspirations. Advantages of Etihad Airways Selection Techniques: 1) Using technology for efficiency reasons: Etihad Airways might be acting as the first group who utilized computerized systems at its work. That is not excluding accounts and business activities, besides converting most of its exchanges and transmissions works into the digital era. 2) Replace people with technology: As more of technology is introduced, less of people might be required to achieve the same job. One of the main goals of Etihad Airways is to reduce the percentage of the junior workers because they are not UAE local people and Etihad Airways has not gained more power to execute such percentage. Disadvantages of Etihad Airways Selection Techniques: 1. Lower labor costs: Although Etihad Airways tries to seduce local UAE people to the people by giving them particularly attractive compensation, in consequence, they are paying less for learning junior staff comparing to the other sector in UAE such like Etihad staff. In addition, Etihad Airways adopted 5 working days per week for help duties; but operational functions are working in shifts. Etihad Airways is depending more on contractors labor history for some of its use and external works requirements. 2. Low cost recruitment and training: Etihad Airways is exceedingly rare to fight for job vacancy, as it is performing a beautiful place to identify at UAE market. On the other hand, for junior staff, it is usually employing directly from Asian low wages countries. On the other hand, Etihad depends on its training center at Abu Dhabi for most of senior staff and all lower staff. More to the fact, which is conducting in consideration consultation and training sessions at specified places of work. Training there is only for local UAE senior staff. Therefore, in order to fulfill the recommendations made in the Etihad Airways Company overview and to be effectively implemented the reform agenda and the learning management system, the goals are: Employment at Etihad Airways, should comply with the real demand of the work force in Etihad Airways Company in order to avoid unnecessary utilization. At Etihad Airways, comprehensive computerized tests should be introduced in order to have a fair assessment of potential candidates covering basic skills to have such as computer applications, management and analytical skills. Recruitment strategies at Etihad Airways, should abide through other parts of human resources such as reimbursement and training, which have a significant impact on attracting and retaining this active labor force. In order to achieve the desired percentage of Emiratization at Etihad Airways, take over should be minimized to a reasonable rate and that cannot be reached without an efficient coordination with other departments in Etihad Airways Company, compensation, training and development, employee relations to look over the main constraints for the high percentage of turnover. Planning and Follow-up Section at Etihad Airways, should reflect the assigned functions/roles to follow up new recruits job after joining the company, that is includes providing appropriate training programs, career development and solving grievances in order to help retaining these high caliper employees. Applying through the Internet at Etihad Airways, should be introduced to improve the image of Etihad Airways Company and make it easy for the applicants. Applicants can offer their resumes also fill up in the arranged application figure as well as to have more accommodation options such as reserving the timely and perfect timing for taking the test and interview. Advertisement in newspapers for specific positions at Etihad Airways might introduce in order to get the most appropriate people needed to register on the needed time. Etihad Airways Company should try to eliminate all obstacles and difficulties in the way to achieve its pivotal position to determine amortization percentage to respectful one by analyzing reasons of development and try to minimize it.

Edgar Allen Poe :: essays research papers

Edgar Allan Poe (1809-1849) Written and Contributed by SUGABUGA456 Edgar Allan Poe was one of America’s famous poets, fiction short-story writers, and literary critics. He is known as the first master of short story form especially in tales of horror, and mystery. The work he produced was considered to be some of the most influential literary criticism of his time. His poems made him one of the most famous figures in American literary history. His influence on literature is seen in all literature books in schools everywhere. Some of his famous writings is that of "Annabel Lee"; his detective story, "The Murders in Rue Morgue"; "The Pit and the Pendulum" and "The Tell-Tale Heart" are the best among his horror stories; and The Raven one of his best poems which among all these, made him very famous in 1845. "The Fall of the House of Usher", and "The Masque of the Red Death", made him a forerunner of symbolism, and impres sionism. Poe antagonized many people with a scathing campaign against an American poet Henry Wadsworth Longfellow for supposed plagiarism. Later that year Poe admitted to being drunk, which further separated him from the public. Poe’s later years were full of economic hardship and ill health. Poe was born in Boston, Massachusetts on January 19, 1809. He was orphaned at the early age of two, his father deserted the family and his mother died all before he was three in 1811, then Poe became a ward and was raised as a foster child by John Allan, a wealthy merchant of tobacco, and his wife Frances in Richmond, VA but they never legally adopted him. Taken by the Allan family to England at the age of six, Poe was placed in a private school. In 1826 Poe enrolled at the University of Virginia in Charlottesville. where he acquired gambling debts that John Allan refused to pay. Eventually, Poe was forced to withdraw from the university, and Allan prevented his return to the university and broke off Poe’s engagement to Sarah Elmira Royster, his Richmond sweetheart. His relationship with Allan was declined and he moved from his foster father and enlisted in the army. Also in 1827, he went to Boston where he wrote his fist book "Tamerlane and other poems" that he sold for $.12 a copy but it didn’t sell. He served a two year term while waiting for an appointment to the US Military Academy.

A Quality Management Case Study Defects Essay

Quality Control is developing evaluation schemes to ensure products are designed and produced to meet or exceed customer requirements. Any unit of production not meeting the standard is immediately eliminated. Researchers apply the Pareto principle implying that very few quality defects account for the larger quality losses. Pareto diagrams allow us to separate vital few factors that cause majority defects from the less contributing factors. Resources are then used to correct these factors and optimum quality standard is achieved. This study examines for defects found during final inspection of printed circuit before they are integrated into the next higher assembly. Manufacturing process followed standards such as MIL-Q. It’s a standard written by the government used even by commercial enterprises. Whenever we have a defect cited, a discrepancy report (DR) is generated. The DR record keeps track of when what defect was detected by whom and where. It also stores information about what action was taken to restore quality unit. Defects are classified as types (In this study, there are 31). These broad categories are further sub categorized. In nutshell, this effort of planning quality is the essence is Quality Assurance. Using the online DR system, Managers analyze defects. First, Managers find out the correlation between inspections and defects. Pearson’s coefficient is a valuable indicator of that. Secondly, Managers analyze the ratio of defects to no. of inspections per week. To crack the whip on detailed data of actual defects, Pareto analysis (Quality Control measure) is performed. Significantly, it shows percentage of defects caused by the key defect types. Working groups are formed to drill down on the last few vital factors to suggest corrective actions and completely eliminate defects. New drawings, procedures are designed and applied to achieve highest quality. During the highest problem period in this study, no. of inspections went down drastically. One reason could be that the work completed was less (because of more defects) and so the number of inspections went down. But the repaired boards needed to be inspected. Inexperienced operators could be the other reason. This leaves a lot of work yet to be done in this field. This study however does benefit quality management efforts. Although, this case is specific to the airline industry, the approaches described here can be usefully applied to any project. Maintaining quality is a very crucial task and any project management must seriously focus on it. Harvard Business Review

Take It Easy Quotes to Live By

Take It Easy Quotes to Live By Just about everybody feels rushed and stressed at times. Since we all know that stress can be harmful to our health, nows the time to take steps to reduce the amount of stress in our lives. Slow down as you do things. Accept that what has passed  is past. Take one step at a time instead of multitasking your way through the day. Identify  what you are doing when you feel totally relaxed and focus on these activities instead of ones that stress you out. No one can avoid all the stress in life, but you can cut back on it. Chill Out With These Quotes Jim MorrisonTime to live, time to lie, time to laugh and time to die. Take it easy baby. Take it as it comes. Christian Nestell BoveeThere is a German proverb which says that Take-it-Easy and Live-Long are brothers. David SelznickWhy do you knock yourself out? Take it easy. Elbert HubbardDo not take life too seriously; you will never get out of it alive. Johnny CashI recently found myself going through a period of uncertainty about my future as a performer, my status as a personality, the believability of my Christian witness and the knowledge of Gods will in my life. I felt a force bigger than myself saying, Lay back. Take it easy. Study hard. Read your Bible. Think, write and keep your mouth shut for awhile. Kate JacobsIts all about getting the hang of things. Easy does it; take it easy. Youll figure everything out in time. But for right now, just keep trying. Pay attention and avoid the temptation to go further than youre ready. Talk less. And listen more. Martin ScorseseThe problem with anger is that its so consuming. Youve got to take it easy on yourself at a certain point. Robert BreaultIts not that Im a Type-B personality. Its that Im driven by a passionate, all-consuming desire to take it easy. Jack Kerouac ï » ¿So long and take it easy, because if you start taking things seriously, it is the end of you. Jackson BrowneLighten up while you still can, dont even try to understand. Just find a  place to make your stand, and take it easy. Fats WallerTake it easy, be a sport. Just remember life is short. Oscar WildeLife is too important to be taken seriously. Ryan ReynoldsI see guys with, like, eyebrow art, and I wanna tell them, You dont have to go too crazy on your brows. Take it easy, man! Golda MeirMy dear, old age is like an airplane flying in a storm. Once youre in it, theres nothing you can do. You cant stop a plane, you cant stop a storm, you cant stop time. So you might as well take it easy, with wisdom. Mark GormanOnly 8 percent of our worry will come to pass. 92 percent of our worry is wasted. Dont panic!

Check out this Phrasal Verb Breakdown! Workout or Work Out Signup or Sign Up Your Questions Answered.

Check out this Phrasal Verb Breakdown! Workout or Work Out Signup or Sign Up Your Questions Answered. This weekend, I had the pleasure of staying in the Hilton Garden Inn in Schaumburg, Illinois.   On the bedside table was a pamphlet entitled, â€Å"In-Room Comfort Guide.† I happily read about the superlatively comfy bed and pillow I was to sleep on and the ergonomic chair I would sit in while working on my laptop.   Then I turned to the back page of the pamphlet, where it said: Workout in the comfort of your own room. â€Å"Do they mean for ‘workout’ to be a noun or a verb?† I asked myself.   â€Å"Do they mean, ‘Get a workout in the comfort of your own room’ or does the Hilton have editors who do not know that workout is a noun, not a verb?† As I read on, I came to the conclusion that the Hilton’s editors have a few things to learn about grammar.   The first sentence of the paragraph under the headline says: Workout in the comfort of your own guestroom when you check-out our complimentary Stay Fit Kit  ® from the front desk. Oh my!   Not only did the editors miss the fact that the verb to â€Å"work out† is TWO words (known as a PHRASAL VERB), but they also did not realize that â€Å"check out† should be TWO words!   You would think that editors working for a HOTEL would know that check-out is the noun for what you do when you check out (verb) of a hotel. Gearing Up with More Phrasal Verbs! Work out and check out are just two examples of phrasal verbs that many people get mixed up.   One of my pet peeves is a phrase you might see often on websites, â€Å"Signup Here† or â€Å"Sign-Up Here.†Ã‚   â€Å"Sign up† (TWO words) is a PHRASAL VERB like â€Å"work out† and â€Å"check out.†Ã‚   â€Å"Sign-up† or â€Å"Signup† is the noun for the act of signing up.   E.g., â€Å"The sign-up table is down the hall to your right.† Other examples of PHRASAL VERBS are: Break out (noun:   breakout) Stand out (adjective:   standout) Take off (noun:   takeoff or take-off) Make up (noun:   make-up) Count down (noun:   countdown) Break down (noun:   breakdown) Group on (noun:   Groupon) – Just Kidding!!! Foul up (noun:   foul-up) – Get where I’m going here? Dear readers, here’s the point:   Just because there is a word in existence that glues the two parts of a phrasal verb together does NOT mean that you can glue those two words together and have the result still be a verb!   If you want to use a verb plus a preposition (up, down, on, off, etc.) as a verb, keep a space between the two parts of the verb.   Do NOT stick them together or you will end up with a noun or possibly an adjective.   You can do better than those Hilton editors, can’t you? If you have questions or more examples of phrasal verbs that people tend to get confused with their corresponding adjective or noun phrase, please share below! Category:Grammar Writing TipsBy Brenda BernsteinJuly 18, 2011 3 Comments The Essay Expert says: July 22, 2011 at 5:30 pm Thanks for the list Dawna! I dont think Ive ever seen shoot out used as a phrasal verb (of course shoot-out is a noun). What does it mean to shoot out (unless youre a plant)? And is there a word eatout or eat-out? I wonder if people get this one wrong. Log in and Log out are a couple that came onto my radar in the last couple of days! Log in to Reply Penelope J. says: July 31, 2011 at 1:58 pm Enjoyed these examples. Dont have time to compile a set of my peeves. I know they are everywhere, but a Hilton Garden Hotel should not have a glaring grammatical error in their pamphlet. Hope you pointed it out to them or sent them a link to this blog post. Log in to Reply The Essay Expert says: July 31, 2011 at 3:15 pm Thanks Penelope! I did send them a trackback. Maybe I should send the link to Corporate too 🙂 Think theyll offer me a job? Log in to Reply

February Revolution Essay Example | Topics and Well Written Essays - 1000 words

February Revolution - Essay Example 1917 saw two distinct Revolutions in Russia: the overthrow of the tsarist regime (February Revolution) and the coup by which the Bolsheviks took power (October Revolution). The causes of these two revolutions encompass Russia's political, social, and economic situation. Politically, the people of Russia resented the autocracy of Tsar Nicholas II. The losses that the Russians suffered during World War I further weakened Russia's view of Nicholas II (Lynch, 2000). Socially, tsarist Russia stood well behind the rest of Europe in its industry and farming, resulting in few opportunities for fair advancement on the part of peasants and industrial workers. Economically, widespread inflation in Russia contributed to the revolution. Nicholas himself helped propel instability into revolution in 1905 by the disastrous foreign policy he pursued in East Asia. Determined that Russia should not be left out in the scramble for colonial possessions, Nicholas embarked on an expansionist policy in Manchuria and Korea that led to war with Japan in 1904 (see Russo-Japanese War). Russia's defeat by Japan ruined the monarchy's prestige and led to the development of an opposition movement that for a time included almost all sectors of Russian society. In January 1905, in an event that became known as Bloody Sunday, unarmed crowds demanding radical constitutional and social reforms were shot down by the army near the emperor's palace in Saint Petersburg (see Russian Revolution of 1905). In the wake of this event, riots and demonstrations broke out throughout the country. Workers went on strike, soldiers mutinied, peasants attacked landlords, and students and members of the middle class demanded constitutional government and so cial reform. To appease opposition moderates and regain support for the regime, Nicholas was forced to promise a constitution in October 1905. Although he retained control over the executive branch and extensive legislative powers, wide-ranging civil rights, including freedom of speech and assembly, were promised, and an elected legislative assembly, the Duma, was created. But when the first two Dumas demanded parliamentary control over the government and the expropriation of noble land, Nicholas supported a drastic and unconstitutional limitation of the electoral law in June 1907. This allowed him to achieve a Duma with very few members of left-wing parties, which were the groups demanding the most radical reforms. Nicholas found it much easier to collaborate with the landowner-dominated Third and Fourth Dumas. Important military, educational, social insurance and, above all, agrarian reforms were enacted. Up to this time, peasant households had been allotted strips of land, but the land was collectively owned by village communes (Lynch, 2000). Under land reforms advanced by Prime Minister Stolypin, the peasants were allowed to claim ownership of their land and leave the communes. As in the previous decade, economic growth was spectacular. Class conflict in the towns remained acute, however, and the immediate result of Stolypin's agrarian reforms was, if anything, to increase the radicalism of most of the peasantry and their determination to seize all noble land if given the chance. The

Services problem of Samsung (White paper) Essay

Services problem of Samsung (White paper) - Essay Example One of the critical areas is customer service, and Samsung suffers an epic service problem. In order to correct this problem, a PRS program needs to be implemented. It is cost effective and will spare the company revenue which will have been lost by disgruntled customers. Brand 2 is an international customer relation consultant with an access to the best minds in the service providers. It has a long history and a wide range of customer relations programs and successes in the media industry. Samsung does not require bad publicity in a highly competitive world. Bad publicity tends to scare aware prospective investors and potential customers. Brand 2 can change that and ensure that not only satisfied customers, but also an efficient service team that responds, connects and performs to its level best. This problem is underscored. Samsung customer service ranks no 465 out of the 747 companies that have a Customer Service Scoreboard rating. According to the survey of 1,771 customers of Samsung, there are 1,692 negative comments. This is an overall score of 29.97 out of a possible 200 based upon 1831 ratings. The score rates Samsung customer service and customer support as inadequate. With the highly competitive nature of the technology industry this might be the waterloo of Samsung. Most customers complained of the staff rudeness and dishonesty. The negative comments keep repeating themselves. This is not only a ticking time bomb but a disaster as far as public relation is concerned. For a company of Samsung nature this certainly something that needs urgent attention. The general nature of mankind is to promote negativity; in as far as customer relation is concerned, this poses a major risk. Negative news sells. (KS consulting limited) Unhappy customers spread the word! Depending on the industry this can even be worse. Today, the dangers of negative word-of-mouth are copious;

The Nature of Computing. Why Programming Paradigms and Languages Essay

The Nature of Computing. Why Programming Paradigms and Languages - Essay Example This paper presents a detailed overview of computer programming languages. This paper will discuss the evolution of computer programming languages, change in a diversity of languages and explore how languages such as Python, Perl, Ruby and C# emerged as a convergence of previous languages. Introduction to Programming and Programming Languages The computer programming is the process of writing the computer programs (also called software applications) to solve different kind of problems as well as to manage different processes of the computer. In fact, a computer is useless without a computer program. In addition, a computer program is written after understanding the problem. In this scenario, we must be clear about the processing steps to be performed by a computer. It means that we must understand the logic of the program before writing a program; we must learn how to plan the theoretical framework of the program. Basically, the program instructions are written in such a way that the computer can follow the program instructions in the correct sequence to solve the problem productively. Hence, in order to write an accurate (or successful) program, the programmer must write the program instructions in an accurate order. On the other hand, if the program instructions are not written in a correct sequence, then the result of the program will be wrong. Thus, the computer programs must be planned before they are written into the computer (Shelly et al., 2005; Norton, 2001). Moreover, the programming languages are used to prepare computer programs or software applications. Early computer programs were written straightforwardly in machine language for instance in binary code. Additionally, it was very difficult to write programs in machine code. However, at the present, a wide variety of the programming languages are available for writing different types of programs. In addition, each programming language has its own rules for witting the programs, which need to be fol lowed in order to get accurate results. For instance, FORTRAN is used for scientific purposes, ADA for defense applications, COBOL for business solutions, etc. (Shelly et al., 2005; Norton, 2001). In simple words, the computer programming is an art of writing instructions and problem solving for a computer. However, the standards of programming are independent of the computer programming language utilized. Moreover, different programming languages have different weaknesses and strengths, making different types of programs difficult or much easier to write, however the fundamental theories remain the same regardless of language (Nasir, 1996; Tatum, 2012). Programming Diversities The computer programming languages are divided into two categories: system programming and application programming. The system programming is mainly concerned with the use of a computer system. On the other hand, the application programming deals with the computer programs which are directly utilized by many people. In addition, the application programming paradigm is further divided into more categories such as (Milo, 2007) Scientific programming Business programming Web-based programming Businesses programming Personal or home programming Game programming Embedded systems programming History of Programming Language Generations This section outlines the history of programming in the form of programming langu

Ethnic group Essay Example for Free

Ethnic group Essay Discussion about race and ethnicity has increased steadily over the last several years. Recent discussion has centered on whether the differences between race and ethnicity are necessary, damaging, or beneficial. There is also much to be said about race relations across the globe and many questions to be pondered. Writing about race can be difficult, and discussion about race even more difficult. The idea is that with research and knowledge, it is much easier to have an intelligent, well-informed discussion about issues that affect all of us. Listed below are some possible essay topics: Race vs. Ethnicity Is the idea of â€Å"race† a human construction that is further separating people in countries across the globe? Does science support the idea that â€Å"ethnicity† more clearly defines us, and therefore, should be how we see each other? Discuss the inherent differences and similarities between race and ethnicity and the importance of them. Race issues in American TV shows and movies Explain through examples and research how different races are portrayed on television and/or movies. Are stereotypes exploited? Are stereotypes nullified? What about the presentation of race in cartoons, e. g. , the Disney movies? Race and the criminal justice system It is commonly believed that minorities are at a disadvantage when it comes to the justice system. Is this true? Are there disproportionate numbers of minorities convicted of crimes? Racial profiling Examine the hot-topic debate about racial profiling. Consider situations that might involve profiling: driving; airport screening; renting/buying housing; shopping and shoplifting; college entrance; and job hiring practices. Discrimination in hiring The topic of discriminatory hiring practices can be explored on its own. Available research will include news reports of instances and court cases. Also review the laws in place to prevent such practice. More possible topics: Should racial profiling be a legitimate law enforcement policy in some areas? †¢Should Affirmative Action for state university enrollment be continued? †¢Should the primary method of public school funding (property taxes in individual school districts) be amended to create more fairness in schools? †¢If a university offers â€Å"African-American Studies or Black Studies as courses, should it also offer European-American Studies or White Studies? †¢How do certain television programs perpetuate racial or ethnic stereotypes? †¢Should schools only purchase textbooks that offer revised or alternative perspectives on historical events? †¢What should be done about racial disparities in the sentencing of criminals? †¢Should the American government pay reparations and return land to Native Americans? †¢Should hate groups have the right to distribute literature on university campuses? †¢If research shows that certain racial or ethnic groups receive poorer medical care on average, how should this problem be corrected? †¢Should government organizations have staff that accurately reflect the racial, ethnic, and gender balance in society? Assignment: Choose one of the above listed topics, a combined topic from above, or a topic of your own choosing that somehow relates to the issue of race and ethnicity. Research the topic, choosing at least 3 sources that you can also easily print to bring to class. This will be an in-class essay with two days of writing that will be at least 4 pages. Type a works cited page and bring it to be turned in with the essay and the printed sources.

Selection of Procurement Strategy

Selection of Procurement Strategy 1.0 INTRODUCTION A major determinant of project success is the selection of the most appropriate procurement strategy which will be used as a frame work to acquire the services of professionals in the industry (Morledge at al, 2006). This report presents the stages that have to be gone through in other to select the best procurement strategy for Janus Leisure plc. Before a suitable project strategy can be selected, there are many variables that need to be considered. However, Masterman (2002) explains that with regards to procurement, only those sub strategies which will have an impact on the ultimate procurement strategy should be considered. He therefore describes the process as consisting of: understanding the client, assessing client objectives, identifying the project constraints including risks and the method of organising the design and construction. These points will therefore form the framework of this report. 1.1 CLIENT Clients in the construction industry are becoming complex in their requirements which has subsequently led to increased client dissatisfaction levels (Latham, 1994). It is therefore essential to identify the type of clients being dealt with as this will have an influence in the choice of procurement method. Based on the categorization of clients by Masterman (2002), Janus leisure plc can be described as a private organisation who generates its funds from its internally business activities and therefore are concerned with profit maximisation wherever possible. Furthermore, we can also say that, the client is an inexperienced client in terms of construction as their main business focus is horse racing. It does not involve in construction activities often and only owns 6 racecourses. However, it is assumed that, the client is very aware of what infrastructure of its business should look like. Finally, we can also say that Janus leisure is a secondary client who requires the building to enable it them house their business activities. This therefore means that construction represents only a small percentage of their annual turn over. 1.2 PROJECT SCOPE The company intends to improve its flagship racecourse at Melchester which hosts the 5000 guineas stakes every year. The proposals are to be undertaken in two phases: Phase I demolition of the existing grandstand the construction of a new 5-storey grandstand to include an extensive conference and exhibition centre (10,000m2 total) and associated external works (budget  £25M) refurbishment of two existing stands circa 100 years old (budget  £5M) Phase II construction of a new 120-bed hotel facility and casino (budget  £12M) to be operational for the 2013 5000 Guineas Stakes meeting in mid-September 1.3 CLIENT OBJECTIVES Janus leisure plc has to consider a number of factors in other to choose the best procurement strategy for the project. To provide guidance for client on their decision of the most appropriate procurement strategy to adopt, Turner (1997) proposed a list of seven factors to consider. Completion time variation complexity quality price certainty price competition management and accountability These will be discussed in detail in the next sub section. Client requirements The objectives and requirements of the client in this report have been categorised under cost, quality and time expectations of the client. They also represent the criteria used by the client in the assessment of the procurement strategies. The following criteria as adopted from Turner (1997) has been established and discussed. Cost Relevance of cost certainty Janus leisure plc is a company which aims at maximising profit wherever possible. It will therefore not intend to spend more than it has budgeted for each section of the development. This implies that, high on the priority of the client is to have a fair idea of how much the project will cost prior to the start of the actual construction. Since the company desires to constantly invest in all of its venues over the coming years. It will therefore be preferable that any strategy chosen should be able to give an idea of the total commitment to be expected, since the project is phased, it means that, this will be a tougher consideration for the first phase but will be achieved to higher degree of accuracy I the second phase Relevance of price competition Janus leisure has a total budget of  £42M for the entire project. With this commitment in mind and a fair certainty of the cost, the client does not really place so much focus on the competition for phase 1. Though Turner (1997) explains that best market price can only be obtained through competition, the client is of the view that factors such as time requirement are of more concern to him and any bid which was around his budget was alright for the first phase. With regard to the second phase, since there will be more time., it is the intention of the client to use competition in other to attain the best price as such therefore any opportunities for price competition will be preferred more. Organisation and accountability It is assumed that the client is fully aware of the fact that, risks go with premiums. However, Janus leisure plc prefers a single point responsibility for the construction of the hotel and will be prepared to pay a premium for that. Clamp et al (2007) argues that leaving both design and construction within one entity could have compromising effects on the quality; however, Janus leisure will prefer to have to deal with just one company in other to eliminate the hassle of lengthy negotiations with many professionals. The client requires that it retains the control for the management of the first phase because it is of more importance to him as he needs it to be ready by 2012. Time Early completion This is a very high priority for the client because they intend to return the 2012 5000 guineas stakes to Melchester. This clearly states that phase 1 should be competed and ready for commissioning before that time. It is known that the duration of the fist phase is short as such early start in needs to ensure early completion. Similarly, with the second phase, it must be completed be 2013. Though this seem to be a longer, advantage should be taken to obtain more competitive while maintaining acceptable standards of quality. Therefore, time is of a higher priority in phase 1 than in phase two Phased requirements The proposed developments are in two phases and should be carried out as such, the duration of the first phase is 2 years which should be ready by mid-September 2012 while that of the second phase is three years and should be completed and ready to use by mid September 2013. As a private client, completion time is of a high priority. Quality Variations Janus leisure plc has been describes as an in experienced client, as such there is the possibility for the client to want to change his mind as the project progresses. Furthermore, the extent of the refurbishment in the first phase cannot be fully envisaged. This implies that, there is an increased possibility of significant variations. However, variations will be minimal in the second phase because, Janus has built some hotels in the past and therefore know what exactly they will want to have in this hotel. It is important to consider variations because they entail high costs and have effects on the construction period and also each procurement method deals differently with variations. Level of prestige Horse racing is a sport that is patronised by a large cross-section of the public as well as wealthy and rich; however, the proposals by Janus leisure does not call for a prestigious design though the requirements of the conferencing, banqueting as well as the hotel should be good and incorporate state-of-the-art technology. Project complexity In terms of complexity during procurement, functionality of the project is not an essential requirement however; complexity of the construction itself and the environmental services is usually very significant (Turner, 1997). The requirements of the project are fairly straightforward as the major requirements were air conditioning and public address systems therefore; complexity is not a great problem in the first phase. With the second phase, more facilities like escalators, lifts and air conditioning facilities will be provided but that notwithstanding, we can say that both faces require a good quality. Risk It is important that any risks to the project are to be effectively managed by the party that is best able to handle them. And every procurement system distributes the risks between the client and contractor (Masterman 2002). Some procurement methods allocate more of the risks to the client and others more to the contractor. Since the client want to control of the first phase, they accept to have the risk even though they will prefer to share them wherever possible. Because the client is quite inexperienced in construction, will prefer to leave to as much of the speculative risk as possible with a single contracting entity though they are aware this might mean payment of premiums for the second phase because it will need time to organize its business activities. 2.0 PROCUREMENT SYSTEMS With respect to the client requirement, four procurement methods have been selected to be appraised because of the peculiar characteristics they have which may be of interest and suitability to the project. They are Traditional method Design and build Management contracting Construction management 2.1 TRADITIONAL METHOD This method is referred to by some authors and researchers as the separated system and it is the oldest form of procurement (Masterman, 2002). It is characterised by the separation between the design and the construction phases and therefore offers multiple points of responsibility (Oyegoke et al ,2009). The client first appoints consultants who will be responsible for the design, cost control and contract administration. Once the design in complete, the client and his team invites tenders from suitable contractors and eventually appoints one of them who will be responsible for carrying out the works. There is therefore direct contractual relationship between the client and the consultants and also between the client and the contractor. The contractor is responsible for all the workmanship and materials including work by sub-contractors and suppliers (Clamp et al, 2007). In some cases, the client could novate subcontractors or suppliers with whom the main contractor will have legal c ontracts. The figure below shows the contractual relations of this system. Fig 1: Contractual relationship; The Traditional Procurement Method (Morledge et al 2006) Use of Traditional method of procurement According to Murdoch and Hughes (2008), following the criteria developed by the Joint Contracts Tribunal (JCT 1988), the following are a proposed a list of instances which traditional method is most suitable. The employer has caused the design to be prepared and for the purposes of the building contract takes responsibility for it. The employers designer is sufficiently experienced to co-ordinate and lead the design team and to manage the interface between design and production. The design is substantially complete when the contractor is selected. An independent quantity surveyor will be used to plan and control the financial aspects of the project The contractor is selected on the basis of the contractors estimate and carries the risk that the estimate may be wrong. The employer reserves the right to select sub-contractors for certain parts of the work. ‘Prime cost sums including employer-selected sub-contracts, do not form the major proportion of the contract sum. The employers agents feel that it is important to use an acceptable negotiated form to ensure a fair and familiar distribution of risk. The employer makes no explicit choice and the advisors do not raise the issue. Suitability With regard to the requirement of the client, the traditional method will be very suitable with regard to price certainty which is high on the priority of the client for the first phase. This is because designs will be completely finished and bills of quantities produced which will be priced by tendering contractors. As such, Janus will know its financial commitment to a high degree of accuracy before the start of the project. However, the problem will be whether there is enough time for full designs to be produced followed by tendering before actual construction starts. This is a concern because completion time is equally of high priority to the client and so the traditional method might not be so suitable in that regard. The traditional methods is also one of the best ways to secure best market price as there is competition between tendering firms, however, since competition is not high on the priority of Janus leisure plc for the fist phase, the second phase will take advantage of that. Since variation is to be expected in the project during the first phase, the traditional method will allow, Janus leisure, a flexibility of mind until when the tender documents are prepared for bidding. After this, changes in specification might be very costly and time wasting. It will be suitable for the second phase as well because variation is expected to be even lower. Janus leisure will not be favoured in terms of his accountability requirements for the second phase because Oyegoke et al (2009) explains that this system introduces multiple points of responsibility. 2.2 DESIGN AND BUILD This system is characterised by the integration of the design and construction phases. Masterman (2002) explains that, the commonly used integrated system is the design and build method however there are other variants such as novated design and build, develop and construct, package deal and turn key projects. Within this report, only the design and build variant is considered. The approach leaves full responsibility of the design and construction with a single organisation: the contractor. Rashid et al (2006) explains that, the selection of the most suitable contractor is based on the brief and the specification given by the client at the time of bidding. In effect, the contractor has the total responsibility for all the works, co-ordination and integration of the whole process as well as appointment of any consultants, specialists or subcontractors (Murdoch and Hughes, 2008). Figure 2.2 shows the contractual relation with this system. Fig 2 Contractual relationship: The Design and Build system (Morledge et al 2006) Use of the design and build method According to Murdoch and Hughes (2008), there are some characteristics of a project which determine whether the design and build method will be suitable for a particular project, theses are listed below: The clients familiarity with construction(experience) The relative importance of client priorities (time, cost, function, quality, value for money etc.) The technical complexity of the project The need to make variations to requirements as work proceeds The patterns of responsibility and communication The need for an early start on site. Suitability With regard to the requirements of Janus leisure plc, this method will be suitable in regard to project completion time because of the integration of the construction and design phases will make the project faster, furthermore, since there is a lump sum fixed price for the bespoke design and construction (Masterman, 2002) the client will equally have high degree of price certainty prior to the start of the project. This method will be suitable because for the client in the second phase in terms of his risk allocation requirement as most to the risk will tend to be with the contractor however, it may not be suitable for the first because the client wants to retain more control. Also, design and build will be suitable for the client because the client will only have one contractual relation with the contractor which will march his responsibility criteria. However many researchers including Masterman (2002) and Turner (1997) have argued that since both design and construction are left w ith the contracting firm, there could be possible compromises in the quality expectation in terms of both design and more importantly workmanship and materials, I will also argue that since the client will give a comprehensive brief with little variation for the second phase, this should not be a big problem. It is again worthy to note that the system will not particularly be suited to the variation requirement of Janus leisure plc for the first phase. The criteria established the possibilities of variations as the project progresses, especially in the first phase but the design and build system freezes excessive variation at an early stage when the contract is signed and any changes after that will tend to cost the client lots of money and time. Fortunately, Janus is already aware of this. Again, leaving both the design and construction on the contractor means leaving more risks with him and this will involve payment of premiums as such. 2.3 MANAGEMENT CONTRACTING This is a method of procurement in which the management contractor is paid a fee by the client to manage the whole building process and therefore has direct contractual relations with all the works contractors (Morledge at al, 2006). The management contractor advices on the buildability of the designs as well as value management during the design. The construction works are let out in packages therefore there is early start with this method. The management contractor does not take part in the actual construction but provide preliminaries for the project. The figure below shows the contractual relation with the management contracting form of procurement. Fig 3.Contractual relationship: Management contracting (Morledge et al 2006) Use of Management contracting Murdoch and Hughes propose a list developed by the Joint Contract Tribunal (JCT, 1987a) which indicates suitable circumstances in which to use Management contracting. The list is as follows: The employer wishes the design to be carried out by an independent architect and design team There is a need for early completion The project is fairly large The project requirements are complex The project entails, or might entail, changing the employers requirements during the building period The employer requiring early completion wants the maximum possible competition in respect of the price for the building works. Suitability This system of procurement is desirable in respect of the client priorities of completion time because of the overlap between design and construction, furthermore, as the work will be let out in packages, competition, though not of a high priority to the client, can be used to attain best price. Under this procurement method, the client will also be able to have a fair certainty of the price before the start of the project. The system will also be suitable in terms of the variation requirements of the client for the first phase because the full design is co-ordinated and developed by the client and his team, as such there is much room for flexibility until that package has been let out on contract. With this procurement system, much of the speculative risk is with the client while works contractors take just a little (Clamp et al, 2007) as such this will be acceptable for the first phase but not quite meet the expectation of Janus leisure for the second phase as they prefer to leave much of the speculative risks with the contracting firm. 2.4 CONSTRUCTION MANAGEMENT With this procurement system, the client appoints the construction manager on the basis of a fee to manage, prepare and co-ordinate the design and construction as well as advising the design team on the buildability of the design (Morledge et al, 2006) as such the client does not allocate risk and responsibility to a single firm because the works are subsequently let out to packages contractors who are in direct contractual relation with the client. The contractual relation with this procurement type is shown below. Fig 4 Contractual relationship: Construction management (Morledge et al 2006) Use of Construction management According to Murdoch and Hughes (2000) Construction management is suitable when the characteristics of the project fulfils in part or whole of the following: The employer is familiar with construction, and knows some or all of the professional team. The risks associated with the project are dominated by timeliness and cost (e.g. the employer may be a private sector employer requiring a commercial building). The project is technologically complex involving diverse technologies and sub-systems. The employer wants to make minor variations to requirements, as the project proceeds. There is scope for separating responsibility for design from responsibility for management of the project. The employer requires an early start on site. The price needs to be competitive, but ‘value for money is more important than simply securing the least possible cost. Suitability This procurement method similar characteristics with the management contract variant, however, there are some differences. The completion time requirements, variation requirement and quality requirements is the same as in the management contracting. However, this system leaves virtually on all the risk on the contractor: a trait which will not suit the requirement of Janus leisure plc. Furthermore, the is no certainty of price as the system works with target sum but advantage can be taken of price competition as the packages are let out to package contractors. Another point worthy on mentioning is that, this method will not particularly suit the responsibility requirement of Janus leisure, who prefer to have to deal with just one contractor. 2.5 RISK SHARING This determines the apportionment of the risks that occur to the party that is able to handle it more adequately than the other. Some procurement methods allocate more of the risks to the client and others more to the contractor, Janus leisure plc is willing to accept some of the risk provided they will be able to foresee it before it occurs for the first phase but will prefer to leave much risk on the contracting firm fro the second phase. The different procurement methods have limits to which the client can tranfer risk. A speculative risk chart according to the different procurement methods can be seen below table 1 : Speculative risk (Clamp et al., 2007) 3.0 SELECTION PROCESS The aim of the selection process is to accurately identify the best procurement route which meets and satisfies the client requirements best (Masterman, 2002). The tables below shows the results of the assessment criteria for the two phases of the project Table 2 priority checklist for phase 1 Table 3priority checklist for phase 2 3.2 PROCUREMENT SYSTEMS FOR PHASE 1 Based on the rating on table 2 and the clients success criteria, the management contracting procurement system has been recommended to be used in the execution of phase 1 Reasons for recommendation It has been established already that time is crucial to the first phase of the developments, as such, this procurement system is suitable because it allows construction to start early once a work section has been completely designed, for example, immediately the foundation are fully designed, the client and his team can give that part out on contract as the designed is continued. The client still retains full control of responsibility of the design as the construction goes on, so since Janus indicates the possibility of variations this will be very much accommodated while the management contractor contributes to the buildability of the designs. The client and his team will also have the chance to select materials and techniques in other to achieve the standard it requires which still reduces maintenance costs. 3.3 PROCUREMENT SYSTEMS FOR PHASE 2 Based on the critical analysis of the critical factors of success for the project as well as the adoption of the table 3 above, the competitive design and build system of procurement has been chosen for the construction of phase 2. Reasons for recommendation The client rates time as important as such, since the contractor is in charge of both the design and construction, there will be an early start of the project on site which will guarantee completion to schedule. However, since the responsibility of the design will be that of the contractor, the client will have to provide a good brief to the contractor in other to eliminate any confusion. This will be required to a great extent so that variations will be reduced to the barest minimum. The design and build procurement method is also best for the phase because the entire of design and construction has been shifted to the client and this suit Janus as a client thought the implication is the likelihood for an increased cost. The client is satisfied with this option because he will have enough time for his own business activities Also, since Janus does not require direct professional accountability for the design and consultants for the second phase, this system proves to be very suitable because the design and build system leaves the entire accountability between the contractor and his team and Janus only has a single contract with the main contractor Janus requires a high degree of price certainty before the start of the construction and the design and build system offers this. Moreover since the requirements indicated that the project is not so complex in terms of technical advancement, the system will be adequate and certain to deliver a product of good quality and workmanship. Finally, the adoption of the competitive variant of the design and build procurement system will give the client and his team the chance to select the best bid from the contractors as a result of the tenders that will be submitted based on the client brief. 3.3 ORGANIZATIONS TO BE COMMISSIONED The consultants to be commissioned for the first phase are as follows: Management Contractor: Engaged very early in the project to provide expert knowledge to other consultants on the constructability of the designs. Architect: Prepares all the necessary architectural designs in accordance with the clients brief and with the management contractor Quantity Surveyor: Carry out feasibility studies, prepare cost estimates and cost plans in conjunction with the designs. Also carry out interim valuations for payment to works contractors, in conjunction with the management contractor. Engineers: Prepare the structural, mechanical and electrical engineering drawings to be priced by the quantity surveyor and form part of the contract documents for executing the works. For the second phase, the client needs to contract a design and build contractor who will be in charge of both design and construction of the facility 4.0 CONCLUSION The proposals by Janus leisure plc have been thoroughly examined and discussed, going through the range of procurement methods and applying the table by CRT, it has been recommended that for a successful execution of the clients developmental proposals, management contracting should be adopted for the first phase while design and build is adopted for the construction of the hotel in the second phase. However, it must be stated that, the success of the project does not only depend on the procurement method used but also on the efficiency of the consultants and the contractors used. Therefore the client should be methodical in the approach for selecting the professionals for the execution of the work.