Wednesday, November 27, 2019

Property Management Systems (Hospitality Industry)

Introduction Property Management Systems (PMSs) are essential tools in the hospitality industry. Hospitality industry is complex and has numerous challenges. Reservations, customer care and administration of hotels and resorts offer challenges that the management must confront in order to attain customer satisfaction, productivity and profitability of the establishments (O’Connor, 2004).Advertising We will write a custom research paper sample on Property Management Systems (Hospitality Industry) specifically for you for only $16.05 $11/page Learn More For this reason, PMSs are devised to manage the operations that take place in the complex hotel and resort environments. Therefore, PMS is an investment option that firms in the hospitality industry must implement. Technological developments have made various types of PMSs available for hotels at low prices (Deakin, 2004). This paper explores the functions, importance and structure of PMSs. In additi on, it includes a SWOT analysis of the use of PMSs in the hospitality industry. Finally, it considers some of the financial considerations that firms in the hospitality industry should consider before they integrate PMS systems in the management of their establishments. The paper focuses on hotels and resorts. Property Management Systems (PMSs) A property management system is software that computerizes the operations of resorts, restaurants, hotels and casinos. The automation of operations in these establishments includes the integration of back and front office activities and applications to enable full control of the entire establishments. A fully functional PMS system should be able to incorporate all value-chain parts within the establishment’s business network into one functional storage area (Ismail, 2002). Property Management Systems (PMSs) are significant components of business oversight mechanisms, and assist the management to oversee the operational activities of es tablishments (Bhattacharya, 2009). A PMS is a vital component of a firm’s decision assembly process. It is a group of application programs that are related directly to front and back office activities of hotels. Notably, the main activities that PMS deals with in hotel management include revenue, guest relationships and reservation management. Others are check-in and checkout, room condition and folio management. Consequently, PMS collects vital amounts of information that management can use to improve tactical, strategic and operational decisions. The management can also collect data from other sources due to the use of PMS. The management can obtain more data through customer relationships, electronic point of sales at outlets, the internet via hotels website or through loyalty programs (Karolin Hilary, 2011).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Thus, PMS assi st in data management. Data management is of significant importance to the customer who seeks services and to the management of the hotel. In the hospitality industry, it is crucial for the hotel to know its customers. Moreover, the knowledge of customers is crucial as it is expressly related to the responsiveness of the customers. The PMS is the core data infrastructure for hotels and resorts. The PMS handles the management of all guests in the hotel, their profiles and check-in. Additionally, PMS handles the stay of customers in the hotel and the revenue generated in the hotel. Finally, PMS assists the management to coordinate the relationship the business has with clients and vendors. It enables the management to abide by laws and regulations that direct business and customers’ relationships (Berezina, 2010). Currently, many hotels worldwide use property management systems. This shows that many organizations have recognized the benefits of property management systems (Hart , Barinedum Benjamin, 2010). However, some organizations have not included the use of the software in management of their establishments. Such organizations have not determined the benefits of data in the formulation of business strategies. They have not determined the amount of data, associated with customers and management, obtainable from PMS and applicable in improvement of profitability and efficiency of their hotels. Structure and Complex Nature of Hotels and Resorts The overall structure of a hotel determines the management’s capability, the integration of technology in management of the hotel and the distribution of data in the hotel. Therefore, the organizational structure has a significant impact on the successful use of technology and information. The functional structures of many hotels are hierarchical. A full service hotel has numerous functional departments that include rooms, food preparation, sales and promotion, human resources, secretarial and public relat ions departments (Karolin Hilary, 2011). Hence, a functional management system that promotes efficiency is necessary. Efficient management of daily operational duties involved in management of a hotel is vital. Inefficient control of these daily operational activities can significantly affect services offered to guests and revenue collected by the hotel. Often, general managers have to invest much time and effort to gain functional control. However, business problems that hotels normally have in their daily operations usually have short lead periods.Advertising We will write a custom research paper sample on Property Management Systems (Hospitality Industry) specifically for you for only $16.05 $11/page Learn More These problems have to be solved within the shortest time possible. This presents problems to general managers. They cannot effectively address service-centered issues that occur spontaneously and at the same time focus on coordination of var ious departments of the hotel. Attempts by the general managers to address all these issues leads to decline in quality of standards of service delivery (WebRezPro, 2012). Therefore, guest service and hotel’s revenue can be easily compromised due to inefficient control of daily operational duties. Hotels require extraordinary level of interdepartmental cooperation to provide guest service of high quality. Organizational structures that many hotels use foster effectiveness within each unit of the hotel (Karadag Dumanoglu, 2009). However, such functional structures are weak in coordination of activities between the departments. It can take general managers a lot of time to supervise all the daily operational activities. In contrast, that should not be the case, since a resourceful administrator is also accountable for the profitability of the hotel. These complications necessitate the use of property management systems in hotels. Technical Complications in Hotels and Resorts H otels are technological units. Guests in hotels expect services of high quality within a short time. Additionally, they expect to receive access to internet, computers, entertainment systems and other appliances that are of high technology. The lobbies of many hotels have self check-in features and point of sale systems. Moreover, conference facilities are computerized and have projectors, computer stations, sound systems and technology that enable guests to hold video conferences (WebRezPro, 2012). Other technological features that modern hotels have include credit card terminals, customer management systems, online check-in systems and revenue management systems among others. These systems must interrelate to ensure that efficiency in operations is attained. Thus, the central reservation system has to align walk-ins and online reservations with telephone orders automatically (WebRezPro, 2012).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Implementation of a technology that can accomplish all these tasks efficiently is expensive. However, the benefit that it offers to the hotel is greater than its cost. These benefits justify the need for property management systems in management of hotels and resorts. A Comprehensive and Efficient Property Management System The use of PMS in the hospitality industry should increase efficiency in operations. Originally, PMSs were used in management of guest check-ins and checkouts, room management and reserves. Through the provision of these tasks, PMSs have ensured that there is no disorganization, inefficiency and inaccuracy in management (Brooks, 1999). However, the hospitality industry continues to be more complex. Therefore, a standard PMS must interface with other systems used by the management. It should have one platform that enables hotel staff to make updates and track changes and information (Bardi, 2011). Therefore, a standard PMS must have some basic properties or qualit ies. The PMS should be an intelligible, adaptable, strategic and a cutting-edge system. An Intelligible System The designs and functionality of PMSs have substantially improved, as they became fundamental parts of hotels. A PMS has to be user friendly. Hotel staff, including new staff, should be able to use the systems without difficulty. A standard PMS must have a logical navigation arrangement and a user interface that is streamlined (WebRezPro, 2012). A standard system used in the hospitality industry has to be flexible and accommodative. Moreover, it must allow collection of comprehensive, accessible and accurate data (Amizawati, Nik Muslim, 2010). Thus, it should allow staff to make accurate reports and manage accounts properly. Ultimately, a superior PMS system for the hospitality industry must improve guest service and increase revenue collection. A Strategic System PMSs enhance data collection and improve reports’ credibility and hotel’s relationship with cust omers. Furthermore, a PMS improves a hotel’s revenue control abilities. Reports are critical in the determination of appropriate strategies to be implemented in a hotel. A superior PMS has to be a strategic system (WebRezPro, 2012). It has to assist in the formulation of strategies such as channel supervision strategies. At the same time, it must improve a guest’s experience in a facility. Thus, an appropriate PMS should customize the stay of a guest in a hotel. In addition, it should enable development of e-promotion strategies. E-promotion strategies can be developed through the use of business intelligence gear and analytics. This can be done based on information collected by the PMS. An Adaptable System Operational and management efficiency is essential in both small and large hotels and resorts. Therefore, a PMS must balance with the amenities and size of an establishment. A small establishment may require a PMS that covers room reservations and online orders only . On the other hand, a hotel that has worldwide operations needs a PMS that manages various activities. Therefore, a PMS has to be adaptable to changes that take place in a business (WebRezPro, 2012). All businesses aim to grow. A small hotel must have a PMS that it adaptable to improvements in size, services and activities as it grows to become a large hotel. A property management system has to cater for hotels and resorts of different types and must not compromise efficiency (Amizawati, Nik Muslim, 2010). Finally, due to technological improvements, a PMS should enable centralized management of international hotels and resorts via a single database. This assists to smooth out activities across the entire group. A Cutting-Edge System Currently, the number of people who make online orders in hotels is high. Therefore, hotels and resorts must have websites. However, websites alone are not enough to improve efficiency. The websites must be linked to PMS to improve management and opera tions of hotels and resorts (Abhishek, 2008). Therefore, online orders made by customers must be automatically recorded in a hotel reservation records. The PMS should also be connected to third party service providers like tour agencies. Moreover, it should allow the use of mobile phones to make reservations. Integration of PMS with Property Management Enablers Integration of PMS with property-based applications in the hospitality industry is vital in improvement of functionality and benefits of PMS. Many organizations that have not integrated the PMS systems with essential applications suffer from misalignment hence inefficiency in management of the properties. Hotels can use Service Oriented Architecture (SOA) or standard-based integration to improve integration of PMSs and property-based applications (Cunnane, 2010). These two methods can assist hotels to integrate PMSs and management applications while at the same time reduce information technology related complexities. Integrat ion of PMSs with customer touch-points and operational modules is essential to operational and customer success in the industry. The major applications that hotels should integrate with the PMSs include revenue management systems, central reservation systems, customer relationship systems and inventory management systems among others. The integration of PMSs with these management applications indicate that focus in the hospitality industry shifts towards customer satisfaction (O’Connor, 2004). This further shows that PMSs are vital in attainment of customer satisfaction in the hospitality industry. Revenue Management Revenue Management Applications enable hotels to determine the suitable rates after the hotels have managed numerous occupancy scenarios. Integration of revenue management applications in the PMS enables hotels to increase gross margins. In addition, integration of revenue management applications in PMSs enables hotels to determine the proper pricing strategies. PMSs must enable formulation of pricing strategies that are based on customer trends, demand and competitive tactics (Cunnane, 2010). This is only possible if revenue management applications are integrated in the PMSs. Inventory Management Resorts and hotels must combine demand sensitivity analysis and inventory visibility. This assists them to maintain a balance in diversely priced inventory. Balance in diversely priced inventory enables hotels to offer discounts in overstock circumstances or charge higher prices when demand increases. Therefore, it is essential to integrate inventory management applications in PMSs. Through integration of an inventory management application into a PMS, a hotel can monitor and manage inventory levels effectively. The management can then use the PMS to forecast demand and make replenishments. Inventory management in hotels through PMS enables management of room availability. Moreover, a PMS that incorporates inventory management application optimize s other activities done in the hotel like food and beverage activities and tidiness (Cunnane, 2010). Customer Loyalty Hotels and resorts must integrate customer fidelity applications into PMSs. Loyalty applications allow hotels to utilize customer information to cross-sell services and goods based on the behavior of customers. Integration of loyalty applications in PMSs enables hotel employees to determine the expectations of customers since they access information on customers. This assists hotels to reduce costs associated with implementation of customer acquisition strategies (Cunnane, 2010). Customer Relationship Management Integration of customer relationship applications into PMSs is highly essential. The integration of customer fidelity applications into PMSs enables hotels to use PMSs to develop personalized direct promotions strategies (Cunnane, 2010). Thus, hotels are able to use PMSs to send emails and make SMS offers to customers. The integration of customer relationship applications into the PMSs enables a hotel to use one record of a customer across the entire hotel. Furthermore, it allows the hotel to update a customer’s profile based on behavior patterns. SWOT Analysis of Property Management Systems in Hospitality Industry A SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis is a framework with which an organization can use to formulate a promotion strategy. It entails the establishment of strengths and weaknesses that an organization has. Additionally, in entails establishment of opportunities and threats that the same organization faces. Therefore, SWOT analysis reveals opportunities for development and vulnerabilities. It considers both internal and external changes in the environment of an organization. Strength is an organization’s resource or capacity that can be used to enable the organization to attain its objectives. Strength denotes the capacities that an organization has over its competitors. The use of pr operty management systems in a hotel provides the hotel with added advantages over competitors. Hotels that use property management systems are more efficient in their operational and management activities (Ljubica, 2012). Property management systems enable hotels to manage efficiently activities such as reservations, check-ins and checkouts, online orders and maintenance. Moreover, the use of PMS in a hotel improves collection of data on customers. The information can then be used to develop promotional strategies. The integration of management applications such as revenue, inventory and customer fidelity applications into the PMSs improves operational and management efficiency in hotels. Therefore, an organization that uses PMS in management of the entire establishment has competitive advantages over an organization that does not use a PMS (Bilgihan, Okumus, Khaldoon David, 2011). Weaknesses refer to limitations, faults or defects that an organization has, and that limit an organ ization’s ability to attain set objectives. They are the factors that the organization must overcome to be ahead of competitors. The organization must hide these defects and limitations from competitors. The use of PMS in hotels has certain limitations. Virus attack on computers can adversely affect the performance of property management systems. A virus attack on a hotel’s property management system can lead to loss of vital data. This can lead to rise of inefficiency in management of the hotel. Additionally, power failure may make staff to retype information previously typed. The same can affect a customer who was in the process of making an online reservation. This can demoralize the staff and irritate the customer. Finally, the other weakness is that some hotel employees do not know how to use the systems. The hotel also has to spend so much money to train staff on how to use the PMS. An opportunity in SWOT analysis is a favorable condition in an organizationâ€⠄¢s environment. An opportunity is normally a change or trend that can result into increased demand of an organization’s services or products. Opportunities enhance an organization’s position in the market or industry. The use of PMS enhances the position of hotels in the hospitality industry. Technological improvements like mobile technology can improve the position that a hotel holds in the hospitality industry. Such technological improvements can enhance the functionality of PMS. Hotels that use PMSs can take advantage of technological improvements to increase competitiveness (Bhattacharya, 2009). Moreover, technologically improved PMS assists hotels to reduce operational costs, increase revenue collection, monitor customer loyalty and devise promotion strategies. Cloud computing also presents an opportunity to hotels that use PMS. In SWOT analysis, threats are unfavorable conditions in an organization’s environment. Threats are conditions that can damage the strategies that the organization had adopted. They are constraints, barriers or external conditions that have the capacity to hamper an organization’s business activity. The use of PMS in management of hotels faces some threats. The competitors of a hotel can present stiff competition through implementation of hi-tech PMS. This can result into a reduction in the number of customers of a hotel. The hotel may not be able to acquire such hi-tech PMS hence the competitor’s PMS is a threat. Another threat can be the high cost required to train staff on how to use PMS system. A hotel can install a PMS to enhance the management of the hotel. However, it can be extremely costly to train the entire staff on usage of the system. Therefore, it brings about financial threat to the hotel. Considerations to Make In Installation of PMS Backup Power Sources Considerations Blackouts and loss of electricity supply are occurrences that can adversely affect operations of hotels and PMS. The management of a hotel that uses PMS must ensure that backup power supply is available. This can assist to minimize the possibility of data loss in case of sudden loss of electric power supply. Maintenance Agreement Considerations The management of a hotel must ensure that there exists a maintenance agreement before adoption of a PMS system. The agreement must inform the management of the hotel the costs associated with maintenance and repair of the acquired PMS. Financial Considerations The management of a hotel must consider the financial requirements associated with the use of a PMS. The decision to use a PMS in a hotel is an expensive investment decision (Deakin, 2004). The management must carry out a cost and benefit analysis to determine the feasibility of use of the system. The management must first determine the need for a PMS in the hotel. Secondly, the management must determine whether the applications in the PMS match the needs of the hotel. The management must then pr epare a budget that concentrates on the administration of all the units of the hotel. In this way, it is feasible to establish the costs associated with management of each department. Hence, it is possible to establish how much capital can be saved through the introduction of a PMS. The amount that can be saved must equal or be greater than the acquisition costs (Deakin, 2004). Additionally, depreciation rates and maintenance costs must be considered. Finally, a hotel must consider the payback period of the amount spent in the acquisition and installation of PMS. Conclusions Hospitality industry places much focus of daily operational activities on customers. The expectations of guests and their preferences evolve and this presents challenge to hotels and resorts. Therefore, it is critical to include technology in management of hotels and resorts. PMSs enable efficiency in management of hotels and resorts. Hotels and resorts have complex structures and uses of PMSs are essential. A s uperior PMS must include management applications like revenue management applications. The inclusion of these applications in PMSs improves guest experience, revenue collection and operation efficiency. Additionally, a hotel that seeks to install a PMS must conduct a SWOT analysis. The hotel must also consider other factors such as maintenance costs of the system and the financial implications that the system has on the hotel’s finances. Finally, a PMS that a hotel acquires should be a system that is strategic, adaptable and intelligible. References Abhishek, K. D. (2008). Internet service marketing in the hospitality sector – A case study of Vizergy Hotels. Management Science and Engineering, 2(2), 27-30. Amizawati, M., Nik Nazli, A. Muslim Har, M. (2010). An investigation on PMS attributes in service organisations in Malaysia. International Journal of Productivity and Performance Management, 59(8), 734-756. Bardi, A. (2011). Hotel front office management. New Jersey : Wiley. Berezina, K. (2010). Top issues in PCI DSS compliance in hotels: An exploratory study. Journal of Hospitality and Tourism Technology, 1(3), 218-233. doi: http://dx.doi.org/10.1108/17579881011078359 Bhattacharya, A. (2009). What are the advantages of Hotel Property Management Software? Retrieved from http://www.articlesbase.com/software-articles/what-are-the-advantages-of-hotel-property-management-software-1061994.html Bilgihan, A, Okumus, F, Khaldoon, N. David, K. (2011). Information technology applications and competitive advantage in hotel companies. Journal of Hospitality and Tourism Technology, 2(2), 139-153. doi: http://dx.doi.org/10.1108/17579881111154245 Brooks, R. (1999). From the Hotel Property’s Perspective: The Network Computing Alternative. Retrieved from http://www.hotel-online.com/News/PressReleases1999_2nd/Apr99_PropertyPerspective.html Cunnane, Chris. (2010). Property Management Integration: Redefining the Role of PMS in Hospitality. Retrieved from h ttp://www.tblat.com/facebook/pdf/aberdeenpms.pdf Deakin, M. (2004). Property management: Corporate strategies, financial instruments and the urban environment. Aldershot: Ashgate. Hart, A, Barinedum, N. Benjamin, I. (2010). The uptake of electronic commerce by SMEs: A Meta theoretical framework expanding the determining constructs of tam and toe frameworks. Journal of Global Business and Technology, 6(1), 1-27. Ismail, A. (2002). Front office operations and management. Albany: Delmar. Karadag, E. Dumanoglu, S. (2009). The productivity and competency of information technology in upscale hotels. International Journal of Contemporary Hospitality Management, 21(4), 479-490. doi: http://dx.doi.org/10.1108/09596110910955712 Karolin, P. Hilary, M. (2011). An investigation of data management and property management systems in hotels. Tourism and Hospitality Management, 17(1), 101-114. Ljubica, G. (2012). Performance measurement system for process-oriented companies. The Business Review, Cambridge, 19(2), 136-143. O’Connor, P. (2004). Using computers in hospitality. London: Thomson. WebRezPro. (2012). Today’s Hotel PMS: Changing the way hotels do business. Retrieved from http://www.webrezpro.com/whitepaper/2012_02_16-PMS.pdf This research paper on Property Management Systems (Hospitality Industry) was written and submitted by user Raymond T. 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.

Sunday, November 24, 2019

Letters in the color purple analysis Essay Example

Letters in the color purple analysis Essay Example Letters in the color purple analysis Paper Letters in the color purple analysis Paper the ardour love and passion Shug and Celie will share nor any of the major happenings that are to be the most reminiscent components of the novel. The epistolary, or letter-writing, form of The Color Purple used by Walker is more or less like a diary, since Celie tells her story through private letters that she writes to God. Therefore this allows cellie to express everything that happens and everything she feels with complete candor and honesty. As a victim of an abusive life Celie is forced to live a life of complete disfranchisement and so these letters allow her feelings to be expressed without filtering . Walkers use of Celies own voice allow Walker to describe the life of black women in the south in a sympathetic and realistic way. Unlike how a historian might explain these living conditions which is in an overly antiseptic and overly -analytical way, Celies letters offers a first-person view of these conditions of sexism, incest, and racism. Her words might seem a little senseless and stripped off excess emotion but still seem to reach the readers hearts  we seem to believe that Celie has been numbed and cannot feel the pain the way it should be felt. my mama dead. She die screaming and cussing. She scream at me she cuss at me I think Walker was very successful at this since the reader is left with a multitude of emotions and feelings after reading every letter and being continuously true and corporeal from the beginning to the end.

Thursday, November 21, 2019

Foundation Built Natural Environment Coursework

Foundation Built Natural Environment - Coursework Example There are two separate departments in the local council that process building warrants and planning permissions (Glover, 2009, pp.17-19). Difference between Building and Planning Control Building Control is the process done by the local council to ensure that properties meet the set legal standards in building works. These regulations are in place to guarantee the durability and safety of every construction. Sometimes, these standards are modified from time to time. For example, generally, building standards are more lax in south England compared to north Scotland. This is due to the harshness of weather in the latter. On the other hand, Planning Control is the process done by the local council to decide whether a construction is acceptable. Aspects such as local preferences and needs, smell, sound, and sight are taken into account before any permission is granted (Glover, 2009, pp.26-27). Building Warrant A Building Warrant is issued as a legal permission to start any construction o r demolition of a property or building. This warrant is granted upon meeting the set legal standards of Building Control. It is a common yet inaccurate belief that Building Warrants are only necessary for structural changes. On the contrary, Building Warrants ensure that the minimum standards for the convenience, interest, protection, and health of the people inside and outside the property or building are met. ... g Warrant is not called for, compliance with the set legal building standards must be carried out, unless the nature of alteration is â€Å"like for like.† (Glover, 2009, pp.31-33) Planning Permission Planning Permissions are different from Building Warrants. They are required in land development plans that are usually comprised of changes of use for, or expansions, of properties. Planning permissions are also at times required for works to trees, listed building consent, demolitions within conservation areas, and outside advertisements. If the alterations are internal, such as the case in most private homes, they do not require Planning Permissions as some of these works are considered â€Å"permitted developments† or are not seen as â€Å"developments.† Although most do not apply to subdivided or flatted residential properties, planning legislation set the requirements for â€Å"permitted developments.† In any case, one should be aware that Building Warr ants may still be required for internal developments or expansions that do not require Planning Permissions (Glover, 2009, p.38). Application for a Building Warrant Building Control surveyors are part of the local council that are in charge of processing Building Warrants. An applicant should fill out application forms and pay the corresponding Building Warrant fee. Details of proposed work should come as an attachment to the application. Fees are based on the estimated cost of the expansion, development, or demolition. Applications are assessed based on the existing building policies and standards, and could take up around three weeks before the issuance of a Building Warrant. Building Control department should be informed when the work will start, and upon satisfactory completion, a surveyor will check the work for the

Wednesday, November 20, 2019

Business plan for a start-up ( Financial data) Literature review

Business plan for a start-up ( Financial data) - Literature review Example With god business plan, the future of the business is certain and all future occurrences will be met with certainty. For a stat-up business, plan is used by business to determine its future survival and viability. Businesses cannot run effectively without a plan. Most plan make assumptions about the future. Any assumption made should be made with great caution as failure for the assumption to hold, the whole plan might be jeopardized. A successful business plan should be prepared based on past experiences fact and empirical data. It requires lo of expertise to prepare a concrete plan for a start-up business that has no past records experience. This paper will focus on the financial side of a business plan by reviewing overall financial records for all industries that are components of a plan. The financial plan of a start-up business will be based on the size of the proposed business. This means that it will rely mainly on assumptions. Analysis will be done o the future cash flows, i ncomes and expenses, balance sheet, capital, profitability and financial ratio analysis. The major assumption that will be used in the plan will be: The prevailing market and economic conditions prevail. Methodology The plan will be prepared based on projection of financial statements. ... According to Lemieux (2013), The various parameters that have taken into consideration for evaluation of the net income of the firms are the general, selling and administrative expenses, depreciation, regulatory expense, insurance costs of the company, rental charges to be paid for the establishment of the business, cost of advertising, utility bills, etc (Lemieux, 2013, p.39). These expenses are adjusted to the gross earnings to form the net earnings of the company. The net earnings of the company are important for the calculation of the net operating cash flows. The net operating cash flow has been forecasted to be 35500 pounds which is expected to increase gradually in the next two years. There are investment cash flows for firms which would involve cash outflows for purchase of fixed assets of the company and other capital expenditures. The cash out flows on account of investment activity of the business is valued at 16250 pounds. The investment activities are expected to increas e in the first three years as the business would focus on increasing their market share. The cash outflows due to financing activities would be due to the interest payment for the debt incurred from the bank and the interest paid to the creditors. The cash outflow for financing activities of the business would be 15650 pounds that is anticipated to increase in the next two years. The net cash flows for the business have been forecasted to be 3600 pounds which is expected to increase by 10% in the next two years as shown in Table 4 in the Appendix. Uses of the data The profit and loss statement and the balance sheet have been forecasted as a part of the business plan and have been presented in Table 2 and Table 3 respectively in the

Sunday, November 17, 2019

Penquins Research Paper Example | Topics and Well Written Essays - 250 words

Penquins - Research Paper Example Penguins are of the Spheniscinae and have about 20 different types. These types all share the same features but vary by small changes in traits. When you see a bird fly in the air the look is similar to the way a penguin is able to swim in the water. The penguins are great swimmers and are graceful in the water. Their specific traits such as the look of their wings make it easy for them to swim. The wings of the penguins have a shape that looks similar to the fin of a dolphin or seal. Penguins have very distinctive mating habits. Unlike other species, the penguins have a switched role when it comes to carrying for offspring. The female and male penguins are very selective when choosing a mate and typically mate for life. Once a female penguin lays an egg, the male cares for the egg and keeps it warm. While the male is carrying for the egg the female goes out in search of food for when the egg hatches. Penguins are very unique birds and are amazing to study. Their habits and ways of life are interesting and explain a lot about their characteristic. Studying penguins shows how determined and caring there species can

Friday, November 15, 2019

Fashion Essays Fashion Industry

Fashion Essays Fashion Industry For individuals who work in the fashion industry, it is a profession in itself as well as a personal interest. Topic The importance of fashion in our daily lives is a given. For individuals who work in the fashion industry, it is a profession in itself as well as a personal interest. For those outside the industry, fashion still plays a very important role. However, many people do not realize that fashion is also a valuable tool for analyzing culture and for assessing the values of that culture. Our fashion choices tell people who we are and what our standing is in society; in addition, our choices have an impact on our ability to succeed or to fail in certain areas of our lives. The topic of research for this proposal is an analysis of the ways in which clothing functions as a reflection of our culture, as well as a tool that can enhance or hinder our success in life. Rationale People have been using clothing and accessories for centuries. In fact, as ONeil has pointed out, clothing and accessories are not the only items used to decorate the body. Across the globe,   the ways in which people present themselves vary widely. Items commonly used range from body and hair paint to decorative scarring, and from perfume to body deformation (ONeil 2005: n.p.). Clothing is primarily worn, of course, for practical reasons, such as protection from the weather and outdoor elements. It is also worn to cover certain parts of the body, either out of modesty or cultural restrictions. The parts of the body that are covered may be different, depending upon the culture and location Clothing may also be used a sort of talisman to ward off evil, or a type of supernatural protection. In Christian populations, wearing a medal of St. Christopher is thought to protect the wearer from evil (ONeil 2005: n.p.). In a similar vein, carrying a rabbits foot or some other item associated with luck is a way of using supernatural assistance. However, clothing is worn for more than the reasons stated above. ONeil asserts that long before we are physically near enough to talk to people, their appearance announces their gender, age, economic class, and often even intentions (2005: n.p.). Fashion is also a medium by which people communicate messages about gender, occupation, class, and wealth. This is something we learn to recognize when we are very young. We also come to recognize what ONeil refers to as a vocabulary of dress. In other words, in addition to the actual items of clothing we wear, there are other features that we have come to accept as part of dress. Among these are hairstyles, makeup, and accessories such as jewelry. Additionally, body decoration such as tattoos and piercings have come to be considered part of the contemporary vocabulary of dress. According to Joanne Entwistle, in contemporary culture, the body has become the site of identity. We experience our bodies as separate from others and increasingly we identify with our bodies as containers of our identities and places of personal expression (2000: 138). An important aspect of fashion is its relationship to society at large. In recent years, this has become considerably more complex. The way we dress says a great deal more about us than many people realize. What we wear presents a statement to the world. It is another way of revealing certain information about ourselves to others: without saying a word, we give out clues about our social background, our economic status, and our images of ourselves. As Entwistle has suggested,   dress is tied up to social life in more than one way: it is produced out of economic, political, technological conditions as well as shaped by social., cultural, aesthetic ideas (2000: 111). The significance of clothing goes beyond what we wear. A pair of blue jeans is not just a pair of blue jeans. The brand is often just as or more important as the article of clothing. Brand recognition is a crucial factor in the world of fashion, especially for younger generations. Faedda asserts that for young people jeans have become a tool of social and political protest, of adherence and membership, symbol and emblem; for stylists jeans have become a trendy casual product, a refined prà ªt a porter article or quite a high fashion creation (Faedda 2005:4). Not only is clothing a key to who we are it also plays a role in how far we can travel in certain circles. It has been said that the right clothing can grant us access to the right places and the right people (Jones 2002: 21). Some scholars theorize that what we wear affects how we act, as well as how others react to us. According to ONeil, putting on certain types of clothing can change your behavior and the behavior of others towards you (2005:n.p.). He uses the example of uniforms, explaining that the message conveyed simply by wearing the clothing associated with a particular profession is both immediate and strong. One specific example ONeil mentions is that of a study of Spanish policemen. Without their uniforms, they were seen as having little or no effect on people, even though they were in fact identified as policemen. With their uniforms on, however, they acted in a much more aggressive manner. In addition, the people who saw them in uniform were much more responsive to di rections. ONeil also explains that uniforms are designed to elicit this kind of response:   Most uniforms are consciously symbolic so that they can rapidly and conclusively communicate status†¦The ribbons and other insignias on the U.S. sailors uniform can tell even a stranger about his status, authority, and military experience (2005: n.p.). And it is important to note that uniforms can include things beyond clothing, such as specific hairstyles that are commonly associated with certain groups of individuals. The uniform hairstyle of   punkers is one example of this. It is assumed by the wearers that the public will recognize these markers and make the connection to a certain group:  it is necessary to know what these culturally defined symbols mean in the context that they are used in order to understand what is being communicated (ONeil 2005: n.p.). According to Faedda, the uniform as we know it has become a transgressive symbol that is associated with the so-called subcultures o r antifashions, political and social movements, music, mass protests and juvenile cultural phenomena generally (Faedda 2005: 4). In addition to its many other uses, dress is also used as a form of camouflage. According to Faedda, dress covers, frames, hides and masks the body. In this sense it works to distinguish and, in the same time, to link oneself to the others: dress is our filter with the world (2005: 4). This assertion that dress is often used to hide or mask the body suggests that there is something unpleasant, undesirable, or even shameful about the body. This in turn brings up a number of issues about clothing and about that which it disguises. According to some scholars, the role of the body has been evolving: in the affluent West, there is a tendency for the body to be seen as an entity which is in the process of becoming; a project which should be worked at and accomplished as part of an individual’s self-identity (Shilling 1993: 5). The concept of the body as a project suggests a dissociation of the self from the body This point is echoed by Entwistle, who asserts that fashion, dress and consumption provide ways of dealing with the problems of the modern world, characterized by increasing fragmentation and a sense of chaos. Fashion opens up possibilities for framing the self, however temporarily (2000: 139). In this sense, fashion takes on seemingly therapeutic aspects: in response to an increasingly complex and chaotic world, the one thing we may feel we can control is our sense of self. Since that self is often expressed through fashion statements, the role of fashion takes on additional significance. As Gilman has commented, in a world in which we are judged by how we appear, the belief that we can change our appearance is liberating (1999: 3). In fact, as Gilman elaborates, To become someone else or to become a better version of ourselves in the eyes of the world is something we all want. Whether we do it with ornaments such as jewelry or through the wide range of physical alterations from hair dressing to tattoos to body piercing, we respond to the demand of seeing and being seen. (Gilman 1999: 3) Aims and Objectives The primary aim of undertaking this research is to explore the intricate and complex messages that are revealed by the types of dress we choose. Our fashion choices say a great deal about us as individuals; on a broader level, fashion trends reflect important aspects of any given culture during a certain time frame. Questions that are driving the design of the project include: What does fashion indicate about the wearer? How does fashion reflect the values and beliefs of different cultures? What is the significance of fashion trends? By combining information from scholarly research, articles from contemporary fashion magazines, and data from internet sources, the final project will seek to answer the questions above and draw relevant conclusions about the complex relationship between fashion and identity. Proposed Methodology Proposed methodology for this project will consist of a combination of quantitative and qualitative sources. A variety of print sources will be used, including books, scholarly journals, fashion magazines, and newspaper articles. Internet resources will also be an integral part of the research process. Current statistical information as well as the latest information on industry trends is more readily available on the internet. This makes the internet a valuable resource when studying an industry that is characterized by rapid change. Additional methodology in the form of questionnaire administration is also proposed as part of this research project. Specifically, a questionnaire would be designed in order to collect data regarding key points that are speculated upon in the research. This questionnaire will be formulated to elicit a range of attitudes based on a series of multiple-choice questions. Although the target audience will be limited by time and resource constraints, participants will be selected at random. In this way, the data collected will reflect society at large. Questionnaire administration will be executed through email and through direct contact with the public. Data collected from questionnaires will be organized and interpreted in terms of stratified clusters, in keeping with the original project format, and will be analyzed, and presented in conjunction with other findings. If discrepancies are discovered between the anticipated and actual results, possible explanations will be formulated and included in the analysis. As for modes of research: as indicated above, information will come from a variety of sources. This will include scholarly research, articles from contemporary fashion magazines, and data from internet sources. Information about research sources will be listed at the end of the paper in a reference list. The reference list will consist of two parts. The first part of the reference list will include sources that are quoted or otherwise directly used in the body of the paper. The second part of the list will include sources that were consulted but which do not appear in the body of the paper. If a questionnaire is used, a copy will be included in a supplementary appendix, along with all additional relevant information that is not included in the body of the paper. Content The content of the research will be organized in chapters and will include sub-headings within each chapter. A Table of Contents will be included to indicate the chapter divisions, Reference List, and Appendices (if used). References and Bibliography All research sources will be listed at the end of the paper in a reference list. Sources that are quoted or otherwise directly used in the body of the paper will be indicated as part of the primary reference list. Sources that were consulted but which do not appear in the body of the paper will be included in a supplement to the primary reference list. Appendices, if found to be helpful, will also be included at the end of the paper. Critical Path A proposed timetable will be formulated upon approval of topic, and will consist of goals and completion dates for each portion of the project. The timetable will be arranged to allow for research, data collection and interpretation, and writing of the paper itself. Time will be allotted for initial and final drafts, as well as proofreading and final revisions before submission. Reflective Statement The complexity of the fashion industry lends itself to a broad choice of career trajectories. This research project will further elucidate the options available. One of the options that has a great deal of appeal is working as a Fashion Consultant, since preliminary research for this project indicates that this is a challenging and rapidly expanding profession in the industry. In addition, opportunities for further research on a more advanced level will be explored. References Entwistle, J. 2000. The fashioned body: Fashion, dress, and modern social theory. Cambridge: Polity Press. Faedda, Barbara. 2005. Wearing and appearing: An anthropological analysis through the shop windows Retrieved December 23, 2005 from http://www.anthroglobe.ca/docs/WEARING%20AND%20APPEARING.htm Gilman, Sander. 1999. Making the body beautiful: A cultural history of aesthetic surgery.Princeton, NJ: Princeton University Press. Jones, S. 2002. Fashion design. London: Laurence King Publishing Ltd. ONeil, Dennis. 2005. Hidden aspects of communication. Retrieved December 23, 2005 from http://anthro.palomar.edu/language/language_6.htm Shilling, C. 1993. The body and social theory. London: Sage.

Tuesday, November 12, 2019

Bullet Proof Vests

The product bullet proof vest is under the manufacturing medical supplies and devices industry which has a total of about 11,000 companies under its umbrella, earning an aggregate income of $75 billion annually. The major players of this industry are Baxter International, Boston Scientific, Johnson & Johnson, and Medtronic, which produces surgical, ophthalmic, and dental instruments and supplies used in the medical field. It is said that the industry is well focused on the hands of 50 largest companies which make up the 75% income of the whole industry.Market Force 1: Technological Forces Armstrong and Kotler (2009) cited that the wonders of technology produce new markets and opportunities, though in some cases hurt other businesses. Technology is now molding the destiny of everyone in a very dramatic manner. Regularly, bullet proof vests must be upgraded when it comes to materials and workmanship, to be in congruence with the fast advancing and high-powered technology in ammunitions being sold in the marketplace.Customers require innovative designs combined with sophisticated and complex functionality for their bullet proof vests. Market Force 2: Demographic forces The world population increases rapidly, affecting the population demographically in terms of age, density, location, gender, race and occupation among others, (Armstrong and Kotler, 2009) . The doubling increase in population yearly has many implications in business, which could be in the form of opportunities or challenges. Since population is people, marketers are very concern and interested in this factor.For instance, crimes are becoming more and more intense and well-organized which calls for more police officers with advance combat gears for protection and safety. Market Force 3: Environmental Forces The natural environment plays a vital role in the production and marketing of bullet proof vests, especially when it comes to the materials being used. Corporate social responsibility and governme nt regulations on environment calls for the use of environmental friendly materials for products being manufactured in order to lessen the impact of pollution to human beings.The use of ApNano materials, for instance in personal safety equipment for saving lives and preventing injuries is a major breakthrough in bullet proof vests production. Strategies to Overcome the Threats The increasing threat when it comes to government regulations in promoting clean environment is also a technological and economic problem. There is a need for political will, large fund and more advanced way of protecting the environment, while making profit. One strategy is to produce practical and affordable products through continuous product development.This way though the product is highly advanced in technology, still more customers will have the capacity to buy the product because it could be offered in a competitive pricing strategy. Strategies to Capitalize on the Opportunities As the technological en vironment changes in a fast phased manner, more and more new products are being desired by customers. New and more advanced technology substitutes the older version, which means a need to produce creative and innovative products.Marketers should watch the technological environment very intimately, at the same time envisioning what most likely will be acceptable in the marketplace in days, months and years ahead. Research and development to come up with fresh and novel bullet proof vests is very essential. Conclusion Since the product bullet proof vests uses a rapidly changing technology, there is a need for tradeoff in order to maximize product performance, cost and reliability, so product development is the appropriate strategy.There is also a need to focus on high level of service and responsiveness to answer to customer requirements of safety and protection while at the same time. There has to be fast product creation which means developing products very quickly in order to start benefiting from these products. References Armstrong, G & Kotler, P. (2009). Marketing: An Introduction, 9th ed. Prentice Hall. www. nanotech-now. com/news. cgi? story_id=29842

Sunday, November 10, 2019

Culture of Pakistan Essay

Culture Definition A simple definition of culture is that it is the human response to the forces of Nature and History. According to the (World Conference on Culture Policies, Mexico 1982)Culture is â€Å"the whole complex of distinctive spiritual, material, intellectual and emotional features that characterize a society or social group. It includes not only arts and letters, but also modes of life, the fundamental rights of the human being, value systems, traditions and beliefs.† PAKISTANI CULTURE Pakistan is the country full of natural and cultural wealth. Pakistan has its own unique and specific cultural identification. Culture and heritage of Pakistan reflects the extra ordinary skill and devotion of Pakistani people. Pakistani people are playing a vital role in the presentation, development and promotion of Pakistani culture. The Pakistani culture is dominated by Islamic tradition and heritage. Islamic heritage has great impact on Pakistani culture. In ancient times, Pakistan was a major cultural hub. Many cultural practices and great monuments have been inherited from the time of the ancient rulers of the region. One of the greatest cultural influences was that of the Persian Empire, of which Pakistan was a part. In fact, the Pakistani satraps were at one time the richest and most productive of the massive Persian Empire. Other key influences include the Afghan Empire, Mughal Empire and later, the short-lived but influential, the British Empire. Punjabi Objectives Pakistan is a country of diverse communities with cultural traditions, belief systems, value systems, life styles, dialects and aspirations which determine the objectives of the policy, which are listed below. They aim at providing an environment conducive to the growth and promotion our culture as enshrined in the Constitution of the Islamic Republic of Pakistan.

Friday, November 8, 2019

Evaluation of an iq test essays

Evaluation of an iq test essays Evaluation of an IQ test : Analysing the Reliability and Validity of the Psygat This study involved the examination of a newly developed intelligence test, the Psygat, in order to assess its reliability and construct validity. A group of 268 psychology students, with an average age of 22.37 were asked to complete the Psygat tests after completing two other intelligence tests, a Culture Fair test and a Verbal IQ test. The results of the Psygat were then analysed for internal reliability through a split half analysis based on age. The construct validity of the Psygat was examined through the analysis of the test scores against the other two intelligence tests. The hypothesis that the test would show significant internal reliability as well construct validity when measured against the other two tests was supported, although inconsistencies with the Culture Fair IQ test were detected for the younger age group. It was concluded that the evidence suggests that the Psygat is a test that could be validly used as an assessment of verbal intelligence, but further investi gation is required regarding the tests use for the assessment of culture fair parameters. While countless intelligence tests have been developed over the last century, the need for strict policing over the construction and administration of tests in order to prevent misuse has been well established. As far back as 1944 Lawson (1944,1992) identified significant problems with the construction and use of intelligence tests and proposed strict guidelines. Since then, the number of tests in common use has increased dramatically, with their importance in the functioning of the community being advanced considerably. However, despite the best efforts of the international psychology community, concern has been growing in recent years over the misuse of psychological testing, including intelligence tests (Turner et al, 2001, Daniel 1997), with at least some of this concern being dire...

Wednesday, November 6, 2019

Weed Is it Good Or Bad essays

Weed Is it Good Or Bad essays Legalizing drugs in America is one of the talked about topics in todays day and age. With the increase in drug addiction in the United States some say it would be better to just legalize the majority of drugs and tell people of the good and bad side effects so that it will be the consumers fault for taking the drug, not the producer who is rightfully to blame. Others believe that legalizing drugs is the opposite way in which the United States intends to go and that marijuana is a treacherous drug that has permanent side effects and is psychologically addictive. Leading consumers to believe that some drugs are more addictive then other drugs is falsifying facts because all drugs are addictive and all drugs are dangerous that is the same thing as saying not all candy causes cavities when all candy does cause cavities and excessive amounts are harmful. Gore Vidal the author of Drugs says that Yet it seems most unlikely that any reasonable sane person will become a drug addict if he knows in advance what addiction is going to be like. Marijuana better know as weed or pot proves this statement wrong because weed seems to be a harmless drug but in reality it is one of the most dominate and dangerous drugs in todays society. Marijuana is called a gateway drug because it leads to uses of more deadly drugs such as heroin, speed, cocaine and crack just to name a few. It has been stated that The risk of using cocaine has been estimated to be more than 104 times greater for those who have tried marijuana than for those who have never tried it(NIH 5 ). Once people get all the good side effects from marijuana they will want to get a better longer lasting effect from other drugs which can be very detrimental. Marijuana can be even more treacherous when mixed with other drugs such as coke, PCP, and embalming fluid which is the latest craze but mixing these drugs with marijuana cause s ...

Sunday, November 3, 2019

Music and Dance Term Paper Example | Topics and Well Written Essays - 1250 words

Music and Dance - Term Paper Example One can even observe this in the present day, such as how cheerleaders would put on some amazing gymnastics and heart-pounding drum beats for the crowd. In fact, as has been portrayed countless times on the silver screen as well as the big screen, even supposedly primitive and uncivilized societies have their own form of music and dance, which they then incorporate into their rituals and ceremonies. This should be a clear indication of the importance of the arts in our everyday lives. As a matter of fact, to say that this is omnipresent in the present day and age is an understatement. Our ancestors were furthermore said to make use of dance and rhythmic music in order to put soldiers in a so-called battle trance, momentarily discarding their individual identities and losing themselves to the music (Jordania, 2011). Another study by Pieslak (2009) shows military units taking advantage of songs and dances in a manner similar to the above, psyching themselves and their comrades up just before commencing their combat missions. Other cultures have also used such arts for healing, as noted by Guenther (1975). And in more everyday settings, these have long served as a means to convey one’s feelings or retell tales of epic deeds. They say music comes in many different forms, and this is no different when applied to Latin music. Quite understandably, one might take this sentence to mean that Latin-American music has a lot of subgenres, which is not exactly false. However, more than just diversity in terms of the kinds of music, this can also pertain to the purpose music has served in the lives of the Latin-American people. More so than in other cultures, Latin-American culture owes much of its identity to its music.

Friday, November 1, 2019

Parallel trade (import) in pharmaceuticals in the UK Dissertation

Parallel trade (import) in pharmaceuticals in the UK - Dissertation Example One of the most common problems of these practices is their failure to fully meet the standards related to the relevant activity. Furthermore, it seems that the willingness of the state to support business initiatives in various industrial sectors is not standardized. The above problem has resulted to the development of practices, which can help businesses to minimize the risks of loss and increase their competitiveness; parallel trade is such practice. Despite its value in increasing business performance, mostly through decreasing prices while the quality of offered products is not affected, parallel trade has been often negatively criticized as of its effects on the economy. On the other hand, there are industries more appropriate for parallel trade and others where parallel trade practices are difficult to be established. In the pharmaceutical industry of Britain, parallel import was used in order to control prices, which are already at a high level – compared to the averag e prices of similar products in other EU countries. The use of parallel trade in the pharmaceutical industry has been initially related to the reduced prices for patients; however, through the years, the specific activity has been also found to help towards ‘the reduction of costs for the social security system of the importing countries’.1 In practice, it has been proved that the use of parallel trade in the specific case did not manage to significantly support the particular industry – at least, not at the level expected by its initiators. However, important benefits were resulted for the British economy. The effects of parallel trade on the British pharmaceutical industry are examined in this paper. Emphasis is given on the policies used by the British legislators to control parallel trade regarding the pharmaceutical products and minimize relevant risks. It is concluded that parallel trade in the British pharmaceutical industry has helped the industry in incr ease its competitiveness against its rivals – referring mostly to the pharmaceutical industries of other member states; however, in terms of the performance of British pharmaceutical firms, the benefits of parallel trade are not clear, a fact indicating that additional measures need to be taken in order for the parallel trade in the specific industry to be more effectively controlled. 2. Parallel trade – description, characteristics and benefits Due to its nature, parallel import cannot be clearly defined; rather, reference could be made to its characteristics, as identified in the literature published in the particular field. In accordance with Cheng et al. (1995) the key characteristics of the parallel import are the following ones: ‘a) it relates to goods protected by trademark/ patent or copyright and b) the importer is not the rightholder of the said right but obtained and exported’.2 In terms of their legal status, parallel import goods have been cha racterized as ‘greymarket goods’, meaning that they are not fully legal;3 this issue is judged each time by reviewing the conditions of the local market but also the economic benefits to which parallel import is related in a particular market.4 In practice, this means that in countries where parallel import highly supports the national economy, its potential alignment with the law (referring to the legal status of the parallel