Canadian Government The Canadian Economy - 1195 Words

Over the years the Canadian government continuously tries to create multiple ways to help progress the economy. Currently the government is doing a poor job improving the economy, however, it has potential to positively develop in the future. The Canadian government is negatively influencing the economy due to the decrease in value of the Canadian dollar, lack of regulation on policies, and the current position of the business cycle in Canada. However, the Canadian government demonstrates potential improvements in the economy through the creation of job opportunities and decrease in governmental expenditure methods. The value of the Canadian dollar demonstrates how well the Canadian economy is doing compared to other countries. Likewise, in chapter three of Dinner Party Economics it is states that â€Å"money measures the standard of living† (19). The Canadian dollar either increases or decreases in value depending on the amount of goods and services purchased. Currently the Canadian dollar has dropped, which demonstrates how the Canadian government is doing a poor job improving the economy. The value of the Canadian dollar dropping causes inflation to occur, making too many Canadians save their money opposed to spending it. In chapter six it mentions that inflation is the real enemy of money (62). Therefore, in order to decrease inflation, spending money is essential. If Canadians do not spend their money, the increase of prices on goods and services will cause unemploymentShow MoreRelatedThe Economic Benefits Of Every Nation Impacts The Quality Of Life1280 Words   |  6 Pagesbenefits of every nation impacts the quality of life for each individual in a society. A strong economy is important as it enhances standards of living and pushes humanity forward with a great success, enabling a better future all. Generally, economic growth is the most essential for a strong economy. Fortunately, Canada’s economy grew excessively in the past years and to this day is one of the best economies in the world. In the past, Canada was facing a large economic recession as it struggled to recoverRead MoreCanadas Homefront During WWI795 Words   |  4 Pagestoll on Canadians. The soldiers in the fields were forever changed by the war but they weren’t the only ones who were changed. World War 1 had a significant impact on Canada’s homefront. The impact of the Great War on Canadian civilians can be easily seen through the increased rate and level of discrimination, growth of Canadian economy and the independence of women. The discrimination suffered by the â€Å"ethnic Canadians† increased during the war was inflicted by both society and the government. An exampleRead MoreThe World War One Of The United States1692 Words   |  7 Pagesin 1917, was the first grand victory of Canadian forces. The Canadian Corps, under Lieutenant-General Julian Byng, had trained and independently overcome the Germans. It was clear that â€Å"[the battle of Vimy Ridge] was a stunning victory. The Canadians had gained more ground, taken more prisoners, and captured more artillery than any previous British offensive in the entire war.† (pg. 38, Counterpoints: Exploring Canadian Issues) This victory gave Canadians on the field and at home a sense of prideRead MoreRole Of The Standard Employment Relationship1496 Words   |  6 PagesThe role of the Standard Employment Relationship in the Canadian economy has been trending towards more of a non-standard form of employment. As discussed by Harsha Walia in his t ext, in Canadian history and in the present, labourers who came to Canada because of programs such as the Seasonal Agricultural Workers Program (SAWP), have received inadequate social benefits, social wages and have been exploited merely because of their temporary worker status. Neoliberal policy shifts are the reason immigrantsRead MoreThe Causes of Canadas Great Depression of 1929-1939 Essay1679 Words   |  7 Pagesthin men in threadbare suits and worn-out shoes selling five-cent apples on city streets, of â€Å"grim-faced women lined up three deep to collect bread and milk at relief stations.†# The Great Depression of the 1930s was a devastating time toward many Canadians, where the collapse of the stock market was the beginning of the Depression, a period of severe economic and social hardship, massive unemployment, and terrible suffering.# The main causes of the Great Depression in Canada were overproduction, Canada’sRead MoreShould Iceland Adopt Canadian Dollar ?1387 Words   |  6 PagesEcon 345 Assignment 2 Topic: Should Iceland adopt Canadian Dollar? Student number: 301238117 Student Name: Shuk Man Chan The Abstract Iceland is now having financial crisis because of its unhealthy banking system and monetary policies. Its currency becomes an unwanted dollar due to its fluctuating exchange rate. To regain the confident and rebuild its financial system, a sound currency is crucial. Canada, one of the strongest economies in OECD, has a healthy banking system and conservativeRead More Canada in the Global Economy Essay1436 Words   |  6 PagesCanada in the Global Economy   Ã‚  Ã‚  Ã‚  Ã‚  Over the past few years, Canadas economy has done comparatively well and has demonstrated some resilience to the fluctuating global economy. However, Canada remains to be relatively less competitive with respect to other developed countries. In this paper I will attempt to take a closer look at Canadas position in the global economy today and examine the relevant issues.   Ã‚  Ã‚  Ã‚  Ã‚  Competition is an important driver of innovation and productivity growth. LookingRead MoreKarl Marx And Adam Smith Essay1639 Words   |  7 PagesPresence of the Theories of Karl Marx Adam Smith Within the Canadian Economy Written by: Jason Kothary, Zach Shafi, Sam Girma Kevin Sallaku Research: Ryan Salehi, Zack Izzeddin, David Moffett, Cameron Bernardo, Harrison Toms, Taha Mahmood, Anthony Alexiou, Jason Kothary, Zach Shafi, Sam Girma Kevin Sallaku Canada’s economy is one that exhibits a multitude of characteristics that adhere to the capitalist and socialist constructs of a mixed system. In order to clearly define and analyze theRead MoreCanada s Relationship With China1565 Words   |  7 Pagesand suggesting the Canadian government implement strategies to engage China. Recently Hon. Navdeep Bains signed a joint declaration on Clean Technology Cooperation while Hon. Chrystia Freeland already met with China’s minister of commerce to begin developing a trade affiliation. Prime Minster Justin Trudeau has also shown genuine interest in building a cohesive economic, political, and cultural relationship with China. With the world’s largest population, second largest economy, and largest car salesRead MoreStrategies For Relieving The National Debt1041 Words   |  5 PagesThe Canadian government has many different strategies to relieving the national debt while being able to sustain the stability of the economy and its many markets. These different strategies include the government selling debts to the banks, wage and price increases, and fiscal and monetary policies. These policies are briefly mentioned and outlined in Chapter Eleven: Policy Matters. (DPE, 145,147) One strategy the government uses is selling their debts to other parties, usually the banks. It is

Brave New World Essay Free Essays

BNW Rough Draft Morally, the novel: Brave New World by Aldous Huxley is not acceptable to me. The plot, suggestive actions, and even the overall standards in the book do not appeal to me as a reader. One example that demonstrates my dislike for the book, Brave New World, is on (pg 19-20): â€Å"’Bokanovsky’s Process,’ †¦ One egg, one embryo, one adult – normality. We will write a custom essay sample on Brave New World Essay or any similar topic only for you Order Now †¦ A Bokanovskified egg will bud, will proliferate, will divide. † This instance from chapter one, personally as a reader, makes me dislike the book. I personally don’t like reading about scientific facts; and/or uncanny extraterrestrial-like customs. I think it is just, very plainly, odd. A second reason that shows my dislike for Brave New World is on (pg 88): â€Å"Swallowing †¦ that second dose of soma had raised a quite impenetrable wall between the actual universe and their minds. † This case from Chapter 5 [part 1] is a huge reason why I do not like this particular novel. Soma is a reference to a perfect drug. Supposedly, there is nothing wrong with it at all, and it makes you completely happy; leaving behind no negative effects whatsoever. I think this is a very bad idea to put into a book due to today’s society of teenagers. Due to the already very enormous number of kids who use drugs, they might become influenced and argue that the characters in BNW can take Soma and not be affected. So then this leaves them to rationalizing that maybe everything will be perfectly satisfactory after consuming a certain drug in the real world. My last instance that shows my disapproval for BNW is how the word ‘Pneumatic’ is used especially by Henry Foster and Benito Hoover to describe what it’s like to have sex with Lenina. She herself remarks that her lovers usually find her â€Å"pneumatic,† patting her legs as she does so. In reference to Lenina it means well-rounded, balloon-like, or bouncy, in reference to her flesh, and in particular her bosom. And the use of this odd word to describe the physical characteristics of both a woman and a piece of furniture underscores the novel’s theme that human sexuality has been degraded to the level of a commodity. Personally, I dislike the very thought that the novel basically revolves around drugs and sex, and being a Junior in High School currently, I don’t really appreciate reading such material. Weird material as such often revolts the attention of the youth. In deduction, the overall content, plot, characters, and drug references make me, as a reader, ill-fated. I personally don’t like the overall message/theme in which it presents either which is that human sexuality has been degraded to the level of a commodity. I just don’t think this is suitable reading material for people like me who are in High School. Let alone, I’m just not that interested in a book with topics like so. How to cite Brave New World Essay, Essay examples Brave New World Essay Free Essays Brave New World Essay In Aldous Huxley’s novel, Brave New World, the citizens of the World State are bred into specific caste systems. These consist of Alphas, Betas, Gammas, Deltas, and Epsilons. The different caste systems differ from each other in many ways, and have multiple purposes. We will write a custom essay sample on Brave New World Essay or any similar topic only for you Order Now There are many differences between the different groups in the caste system. Alphas are the most intelligent of them all. They wear the color grey, and are the tallest and most good looking. While developing inside the faux womb, they were given the most oxygen. They usually work as wardens, psychologists (Bernard), Director of hatcheries, and all World Controllers are Alphas. Betas are a little less intelligent then Alphas, but still higher in the caste system. They wear mulberry colored clothing and there jobs consist of mechanics and nurses. Alphas and Betas usually associate with each other. Gammas, Deltas, and Epsilons are in the lower half of the cast system. Gammas wear the color green. They are usually butlers and other jobs that do not consist of much thinking. Deltas wear khaki, and usually are helicopter attendants. The are mass produced and have no individuality. â€Å"Bokanovsky’s Process is one of the major instruments of social stability! † (Huxley, 7). This being said means the the World State does not think individuality is important. Epsilons are on the verge of being morons. They wear black, and received the least amount of oxygen in the womb. They are very stupid and usually press elevator buttons. The purpose of this cast system is that people will be happy with their jobs. An example is that an Alpha would have a job in the medical field, and an Epsilon would have a job pressing buttons. â€Å"Every one works for every one else. We can’t do without any one. Even Epsilons are useful. We couldn’t do without Epsilons. â€Å"(Huxley, 60). You need every caste system to maintain ‘the perfect World State’. I personally do not think that they reflect an aspect of our society today. I think it is just a consequence of the society of the World State. In the end, everyone needs everyone. The Alphas and Betas could not survive with out the Gammas, Deltas, and Epsilons, and vice versa. How to cite Brave New World Essay, Essay examples

Business sustainability performance cost of capital †Free Samples

Question: Discuss about theBusiness sustainability performance and cost of equity capital. Answer: Introduction With the changes in economic and complex business structure, each and every organization has been using financial analysis tools to evaluate the financial performance, availability of the sources of finance and use of capital budgeting tools. In this report, Petronas Gas Berhad Company has been taken into consideration. This is the natural gas distribution company which has been running its business on a domestic and international level. This report has been prepared to evaluate the objective of Petronas Gas Berhad Company related to wealth maximization and source of external finance available for the company. In addition to this, weighted average cost of capital and other capital budgeting technique has also been used to evaluate the available project for the company. This report emphasizes upon the financial analysis for the effective welfare of stakeholders, raise funds from the external sources and evaluating the same by using a weighted average cost of capital. Brief description of company The Petronas Gas Berhad Company is natural gas distribution company headquartered in Malaysia. It has several subsidiaries- Kimanis power sdn. Bhd. It was incorporated in 1983 and was listed on the main market of Bursa Malaysia security stock exchange. This company has the strong brand image in market. Initially the company was wholly owned subsidiary of Petronas and the biggest oil selling company in Malaysia. The company is performing well in the oil and petroleum industry. However, the sales revenue of the company has increased to MYR 4.58 billion in 2016 which is 5% higher than the last four year data. The gross income of the company has also increased to MYR 2.07Billion in 2016. This amount reflects that company has been performing well in the market and increasing the return on capital employed. Group structure of Petronas Gas Berhad Compan It is a listed company in which CEO and managers take all the important decisions of the organization. It is observed that company has been following decentralized business functioning in which all the decisions are taken by the process manager and line mangers (Hrisch, Freeman and Schaltegger, 2014). Stakeholders wealth maximization Shareholders are the key promoters and owners of company who provide capital to the company. There are several stakeholders of the company such as employees, shareholders, management, staff members, suppliers, and vendors and government who may influence or get influenced by the activities of an organization. It is evaluated that the company are providing high amount of return to its shareholders with the increase in its earning. However, strategic alliances with the suppliers are also increasing the revenue returns (Baker and Wurgler, 2015). Importance of wealth maximization It is observed that shareholders are the key investors of the company. It is evaluated that if a company does not offer the proper return to shareholder then the brand image of company and efficiency to raise funds from the market wil be effected. There are several ways to establish wealth maximization of shareholders such as setting profit based dividend policy, issue of bonus and other incentive plans. The importance of wealth maximization is related to creating value of the invested capital of the shareholders for their long-term benefits. If this wealth maximization process is not undertaken then it may destruct the value of the shareholders (Hrisch, Freeman and Schaltegger, 2014). Risk minimization model The risk model is implemented to minimize the risk associated with the business of the company. It helps in mitigating the financial and business risk in determined approach. The standard risk model is implemented to identify the risk, develop an action plan and implement proper business activities to mitigate the issues. It also helps in identification of the best course of action which company could take to increase the overall outcomes (Denis, 2016). Analysis of Stakeholders model The wealth maximization of the stakeholders is highly dependent upon the nexus established by the management department for the organizational development and company's welfare. The company has issued bonus shares, contribution in employees provident funds and adequate dip points to suppliers and vendors. In the recent years the company has increased its dividend payment amount to its shareholders with the increase in its profit. It reflects that company adopted profit based dividend policy (Mitchell, et al., 2016). Importance of stakeholders The main important thing about the stakeholders is related to the contributed capital of a company. It is observed that there is several importance of stakeholders (Tantalo and Priem, 2016). Established proper nexus between company's developments with the stakeholder's development. Use of capital to expand the business. Formulation of clients oriented policies and frameworks. Local support and new business functioning. Problems of reconciling the two models This business model reflects that these two models have different objects and approaches. It is observed that if these models are reconciled together then it may destruct the existing business operations of the company. It is evaluated that the company needs to evaluate whether the existing business functions has been offering best results to stakeholders and also complying with the fundamental perspectives. The below-given chart reflects how the stakeholder's models could be reconciled with the risk events of the company. It may increase the overall quality of the business but also reduce the risk of the company. Source: (Kacperczyk, et al., 2015) Sources of finance available There are several sources of finance available to such as an issue of equity shares, debentures, applying for loans in banks and securitization of assets with the assets securitization company (Schwarzmller, et al. 2017). Equity shares- the company could issue share through an initial public offer and further public offer. It is observed that company could opt this option if by raising funds from equity shares holders gives more return on capital employed. However, the cost of the equity covers all the expenses incurred to issues of shares in market and return and dividend given to shareholders. Debentures- It is observed that debentures could be defined as bonds and documents offer by the the company to investors for their capital. It has fixed interest payment which is charged on the profit. If a company fails to pay this interest amount to debenture holders then it may result to wind up or dissolution of a company (Cox and Nguyen, 2018). Securitisation- It is the process which could be used by the company to covert its long-term assets into liquid assets. For instance, company could sales it's fixed assets and machines to other companies for the temporary basis and take finance from them (West and Bogers, 2014). Banks loans- It is observed that the company has strong brand image in the market. It could raise capital from the banks and financial institutions after applying for loans. However, banks may charge high interest from the company which results to increase the cost of capital of the company (Rostamkalaei and Freel, 2016). Distinguished for the Petronas Gas Berhad Company It is observed that the company is listed company and having a strong brand image. After evaluating all the details and information regarding the company, it is inferred that the company should raise funds from different sources of methods. For instance, 60% capital could be raised by issue of equity shares in the market. The issues of equity shares have zero financial leverage nor does company pay fixed amount to shareholders. On the other hand, issues of debentures may increase the financial leverage and the interest payment is the charge on the profit. It may decrease the value of the investment and put negative impact on the business functioning of an organization if a company fails to have adequate gearing ratio. However, in case, if a company is having strong profitability then the company could opt for the issues of debentures in a market. This option not only decreases the cost of capital but also increase the financial leverage of company (Cuevas?Rodrguez, Cabello?Medina and Carmona?Lavado, 2014). Possible consideration was undertaken by management These above-given sources of finance are opted by the company for raising funds on the basis of cost associated with the business and return on capital employed. Company could use proper analysis tools such as capital budgeting tools, net present value methods, cash flow methods to determine whether the particular source of finance would increase the net present value of investment of company (Queen, 2015). Cost of the capital- It is amount of total money which is required to be paid by company to the persons who have deployed their capital in the business of the company. However, it includes the cost of equity, debentures and the bank loan financial risk- It is the risk which reflects companys sustainability and business risk. It is observed that if company is having low profitability then it will have high financial risk and vice-versa. This risk is also known financial leverage which may put company in danger for its sustainable business (Kacperczyk Beckman and Moliterno, 2015). It is observed that raising funds from market may be complicated for the company. It is analyzed that company could select the particular source of funding. The selecting of particular source of funds depends upon the two important factors such as financial leverage and cost of capital. After evaluating the annual report of the company, it is analysed that company is having low financial leverage. The total assets of the company are MYR 16554 million in 2017. The total liability of the company is MYR 4587 million in 2017. On the other hand, the profitability of company is also very high and increased its profit by 22% since last two years. The net profit of company is MYR 1739 million in 2017 (Ng, and Rezaee, 2015). This data reflects that the company has very low financial leverage in the market. It is observed that company should raise more funds from the market by using debt funding process. It will help company to reduce the overall cost of capital and increase the return on capi tal employed of company. There are main two advantages of raising funds from the market first is related to the low cost of capital and another is related to decrease in the financial leverage of the company. Therefore, it could be inferred that the company could use debt funding to raise funds from the market (Montmartin, and Herrera, 2015). Now, in the end, it could be inferred that company could raise funds from the market by issue of debentures in market. It will reduce the overall cost of the capital and increase the overall return on capital employed of company. The management of the company needs to evaluate whether the issue of debts in market would be expensive for the organization or not. It will also reduce the overall cost of capital and create value of the investment (Frank, and Shen, T., 2016). Discussion of weighted average cost of capital and computation of the same It is the amount of overall cost of capital which pays to its internal and external factors. This weighted average cost of capital assist organizations to determine whether the particular project should be accepted or not. If the return on capital employed is positive then management of the company could accept that project and vice-versa. The weighted average cost of capital could be computed as below. Cost of equity (calculated through CAPM) = This is the amount cost which is computed by following capital assets pricing model. Cost of Debt = 3% Interest payment= MYR 103 Million Total liabilities= 3548 Cost of debt before deducting tax benefits= Computation of the cost of debt Interest payment 103 Debt 3548 Interest rate 3% Cost of debt 2.03% Cost of debt after deducting the tax= 2.03% Computation of the cost of equity The cost of equity is the amount of return paid to equity shareholders. However, cost of equity is determined on the basis of using proper CAPM model (Krger, Landier and Thesmar, 2015). Computation of the cost of equity RF 4% RM 10% Beta 0.99 CAPM (Re) 9.9400% WACC = Cost of debt (interest rate after tax) + cost of equity WACC Capital Amount Cost of capital % of portion WACC Equity 11967 9.94% 77.1318% 7.67% Debt 3548 2.03% 22.87% 0.46% Total capital 15515 WACC 8.13% After evaluating all the details from the annual report of company such as total debt amount, equity share portion and interest payment, the WACC of the company has been computed as above. The weighted average cost of capital of company is 8.13%. (Petronas Gas Berhad Company, 2016). Implication of higher weighted average cost of capital on the investment decision It is observed that the weighted average cost of capital is the total amount of cost of capital which company requires paying to internal external investors for the use of their capital in organization. The implication of higher WACC on the investment decision would be negative on the business. If company has low WACC then it could easily accept any project. In case, the company has higher WACC then the return on capital employed would be low. Therefore, lower WACC reflects the positive indication to the company as it could easily accept any project (Dagher, 2016). The main problem which may arise while computing weighted average cost of capital in general firms The main problem which arises in computing the WACC is related to identifying the right beta of company, risk-free rate of return and tax deduction available on the interest expenses. Beta- It reflects the risk of company based on the marketing factors. However, it could be computed on the basis of the share price of company and market capitalization. It becomes cumbersome to compute in case when there are high differences between share price fluctuation and share price of all ordinary indexes Risk free rate of return- It is hard to determine which risk free rate of return should be chosen to compute the cost of equity in the absence of proper information. It may also deviate the results of calculation. Tax deduction- It is evaluated that in case of international transactions, company may face problem while determining the tax-deductible expenses. Therefore, it may create problem while computing the cost of debt of company (Ortiz-Molina and Phillips, 2014). Problem which may arise while computing weighted average cost of capital It is observed that the company has two types of capital such as debt capital and equity capital. It is evaluated that in order to compute the cost of equity of company, the company could use capital assets pricing model. The main difficulty which may arise could be related to identifying the right beta, Risk-free rate of return and the market premium of company. The trade-off theory of capital structure The the company is having good amount equity capital which reflects that company should establish the proper capital structure. It is observed that company is managing debt portion of 22% and 68% equity portion. It is observed that the company may have to face high financial cost due to high equity portion and less debt portion. The Company needs to increase the overall its deb portion in its business. It will not only reduce the overall cost of capital but also increase the financial leverage of company ( Birn, 2017). Recommendations After evaluating the annual report and other details of company, it is inferred that The the company is having low financial leverage but a high cost of capital. In addition to this, company is also having good profitability in its business. Therefore, company should increase the debt to equity portion by increasing the overall debt funding in business. Particular (MYR in Million) Capital Amount Equity 11967 Debt 3548 Total capital 15515 The total capital of company is MYR million 15515 which is accompanied by the 78% equity portion and 22% debt portion. It has increased its revenue by 22% in 2017 as compared to last four years data. Therefore, company should also increase its debt portion to reduce the overall cost of capital. The existing capital structure of company is managing debt portion of 22% and 68% equity portion which reflects low financial leverage and high cost of capital. the company should be more inclined towards increasing the debt portion and increasing the return on capital employed. The gearing ratio of the company is 10% which is very low and clearly indicates that company could charge more interest amount on its profit (Wang. et al. 2015). Conclusion The capital structure of the company is accompanied by the debt and equity portion. The company has strong brand image and high profitability in its business. The company should be less worried about the financial leverage and market risk. After analyzing the financial details, it could be inferred that company has moderate cost of capital and has increased its return on capital employed throughout the time. Nonetheless, the debt portion should be increased to 30% to keep the balance between risk and cost of capital. It is easy to understand that increase in the debt portion will surely decrease the overall cost of capital of company (Cerutti, Dagher and Dell'Ariccia, 2017). References Baker, M. and Wurgler, J., 2015. Do strict capital requirements raise the cost of capital? Bank regulation, capital structure, and the low-risk anomaly.American Economic Review,105(5), pp.315-20. Birn, E., 2017.Taxation, technology, and the user cost of capital(Vol. 182). Elsevier. Cerutti, E., Dagher, J. and Dell'Ariccia, G., 2017. Housing finance and real-estate booms: a cross-country perspective.Journal of Housing Economics,38, pp.1-13. Cox, J. and Nguyen, T., 2018. Does the crowd mean business? An analysis of rewards-based crowdfunding as a source of finance for start-ups and small businesses.Journal of Small Business and Enterprise Development,25(1), pp.147-162. Cuevas?Rodrguez, G., Cabello?Medina, C. and Carmona?Lavado, A., 2014. Internal and external social capital for radical product innovation: Do they always work well together?.British Journal of Management,25(2), pp.266-284 Denis, D., 2016. Corporate Governance and the Goal of the Firm: In Defense of Shareholder Wealth Maximization.Financial Review,51(4), pp.467-480. Frank, M.Z. and Shen, T., 2016. Investment and the weighted average cost of capital.Journal of Financial Economics,119(2), pp.300-315. Hrisch, J., Freeman, R.E. and Schaltegger, S., 2014. Applying stakeholder theory in sustainability management: Links, similarities, dissimilarities, and a conceptual framework.Organization Environment,27(4), pp.328-346. Kacperczyk, A., Beckman, C.M., and Moliterno, T.P., 2015. Disentangling risk and change: stake holder model and risk model comparison in the mutual fund industry.Administrative Science Quarterly,60(2), pp.228-262. Krger, P., Landier, A. and Thesmar, D., 2015. The WACC fallacy: The real effects of using a unique discount rate.The Journal of Finance,70(3), pp.1253-1285. Mitchell, R.K., Weaver, G.R., Agle, B.R., Bailey, A.D. and Carlson, J., 2016. Stakeholder agency and social welfare: Pluralism and decision making in the multi-objective corporation.Academy of Management Review,41(2), pp.252-275. Montmartin, B. and Herrera, M., 2015. Internal and external effects of RD subsidies and fiscal incentives: Empirical evidence using spatial dynamic panel models.Research Policy,44(5), pp.1065-1079. Ng, A.C. and Rezaee, Z., 2015. Business sustainability performance and cost of equity capital.Journal of Corporate Finance,34, pp.128-149. Ortiz-Molina, H. and Phillips, G.M., 2014. Real asset illiquidity and the cost of capital.Journal of Financial and Quantitative Analysis,49(1), pp.1-32. Petronas Gas Berhad Company 2017, annual report, retrieved on 22nd February 2017 from https://www.petronasgas.com/IR/Pages/Timeline.aspx Queen, P.E., 2015. Enlightened shareholder maximization: is this strategy achievable?.Journal of Business Ethics,127(3), pp.683-694. Rostamkalaei, A. and Freel, M., 2016. The cost of growth: small firms and the pricing of bank loans.Small Business Economics,46(2), pp.255-272. Schwarzmller, T., Brosi, P., Stelkens, V., Sprrle, M. and Welpe, I.M., 2017. Investors reactions to companies stakeholder management: the crucial role of assumed costs and perceived sustainability.Business Research,10(1), pp.79-96. Tantalo, C. and Priem, R.L., 2016. Value creation through stakeholder synergy.Strategic Management Journal,37(2), pp.314-329. Wang, D.H.M., Chen, P.H., Yu, T.H.K. and Hsiao, C.Y., 2015. The effects of corporate social responsibility on brand equity and firm performance.Journal of business research,68(11), pp.2232-2236. West, J. and Bogers, M., 2014. Leveraging external sources of innovation: a review of research on open innovation.Journal of Product Innovation Management,31(4), pp.814-831. Yahoo finance, 2018 retrieved on 19h January from https://in.finance.yahoo.com/

Nestle Marketing Research Project free essay sample

The main aim of Nestle is to reach every single Pakistani. Nestle currently launched a new flavored juice in Pakistan that is Nestle Guvava in 2008. The profit and net profit margins remained stable. Overall profit margin showed a slight increase but a slight decline in gross profit margin was witnessed. Problem Statement â€Å"To know the reason of decline in sales of Nestle orange juice† Sales Growth Nestle orange juice has been a flagship brand of Nestle juices since years. However, their sales declined to -1 % as compared to last year. Last year growth in sales As per the meeting with the Brand manager juices, we got an insight about customer attitude, competitors, product development etc. †¢ Total contribution of orange juice is 20% to revenue in the juices category; however the overall market share of juices is 60%. Customer Attitudes The main concern that the consumer’s of Nestle Orange juices have regarding the juice is related to the purity of the juice. We will write a custom essay sample on Nestle Marketing Research Project or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page On the web we found out who are the competitors of nestle in its juices line and more precisely in its orange juice. Literature search revealed that a few of our major competitors are: †¢ Shezan All pure †¢ Haleeb Good Day †¢ Minute Maid Minute Maid One of the leading competitors of Nestle juice is Minute Maid launched by Coca Cola. Sales of still beverages, such as Powerade and Minute Maid fruit juices, jumped 14 percent by volume, far outpacing a four percent rise by sparkling beverages, such as Coke and Sprite. Haleeb Good Day Haleeb Good Day offers 100% pure orange juices without any added sugar, flavors or preservatives. Haleeb Good Day orange juice gives the consumers the absolute delight in taste, and revitalizes them at the same time. It is packed in a 6-layered Tetra Pack Brick Aseptic packaging. Shezan All Pure Shezan All Pure juices enrich our senses with the fresh taste of 100% pure orange juice. A sip of All Pure helps our taste buds embark on a magical journey filled with the sweetest fruit sensations. The data that was found helpful regarding Shezan is as follows: Food Personal Care-Product

The role of human resources management in employee motivation The WritePass Journal

The role of human resources management in employee motivation Introduction The role of human resources management in employee motivation IntroductionHow Human Resource Management plays an important rule in employee motivation?Employee motivationLeadership Skills and Leadership BehaviorsEffective Leadership BehaviorsCONCLUSIONThe PurposeThe MethodThe ImplementationThe Considerations – Communication SkillsThe Considerations – Listening SkillsReferencesRelated Introduction Human resource management (HRM) is a strategic and coherent approach for the management of an organizations most precious assets the employees working there who individually and collectively contribute to the achievement of the objectives of the business. The term human resource management and human resources (HR) have strongly replaced the term personnel management as a description of the processes involved in managing people in organization. In very simple words, HRM means employing people and developing their capacities and utilizing and maintaining and compensating their services in tune with the job and organizational needs and requirements. Human resources management includes several processes and stages. Both Together they are supposed to reach the above mentioned targets and goal. These processes can be carried on in an HR department, but some of the tasks and jobs can also be outsourced or performed by line managers or the other departments. When effectively performed they provide significant outstanding economic benefits to the organization. Human resources management presses and stages are: Workforce planning Recruitment (sometimes separated into attraction and selection) Induction, Orientation and Onboarding Skills management Training and development Personnel administration Compensation in wage or salary Time management Travel management (sometimes assigned to accounting rather than HRM) Payroll (sometimes assigned to accounting rather than HRM) Employee benefits administration Personnel cost planning Performance appraisal Labor relations How Human Resource Management plays an important rule in employee motivation? Employee motivation To be able to have a good effective workforce and to encourage and motivate them to give and do their best while at work it requires attention to all of the financial and also psychological and even physiological rewards offered by the organization as a non stop continuous exercise. The Basic financial rewards and conditions of service example working hours per week are determined externally by the national bargaining or government minimum wage legislation departments in many occupations but as much as 50 per cent of the gross pay of the manual workers is often the result of local negotiations and details example which particular hours shall be worked of conditions of service are often more important than the basics. Hence there is scope for financial and other motivations to be used at all levels. As the staffing needs will vary with the productivity of the employees (and the industrial peace achieved) so good personnel policies are desirable. The latter can depend upon other factors (like environment, welfare, workforce benefits and so on but unless the pay rat is accepted as a fair and just there will be no good motivation. Also the technicalities of payment and other systems may be the concern of others; the outcome of them is a subject of a great concern to human resource management. Increasingly the influence of behavioral science discoveries is becoming important not merely because of the widely acknowledged limitations of money as a motivation factor, but because of the changing mix and the nature of tasks example more service and professional jobs and far fewer unskilled and repetitive production jobs. So the situation demands a better educated mobile and multi-skilled workforce is much more likely to be influenced by other things like job satisfaction, involvement, participation and so on. than the economically dependent workforce of the past. Human resource management are suppose to be acting as a source of information about and a source of inspiration for the application of the findings of behavioral science. It may be a matter of paying the attention of the senior managers to what is being achieved elsewhere and the gradual education of middle managers to new points of view on job design, work organization and worker autonomy. Leadership Skills and Leadership Behaviors A good leader must develop their leadership skills and work to demonstrate and improve many positive leadership behaviors and to eliminate all of the negative leadership behaviors. These positive behaviors must be demonstrated at all times in all situations so that it is simply how the good leader works on. Leadership development is a continuous nonstop process of personal development. Effective Leadership Behaviors So many Different leadership studies highlight the importance of effective leadership behaviors, whether they are based on under-graduates or commercial managers at every level in an organization. In short words, there are commonalities that emerge from this research time and again, which characterize positive behaviors and negative behaviors. Whilst there may be significant differences at the detailed level there seems to be a broad consensus of positive leadership behaviors: Effective project planning and management Conducts regular, effective meetings to set objectives, allocate tasks and review performance Identifying the right person for the right role Appropriate delegation of responsibility whilst retaining accountability Consults and includes others in decision-making Shows an interest in others and responding to their needs whether that is for more information, guidance, support, personal development, positive feedback or reward and recognition Takes ownership and shows commitment for solving problems or difficult/sensitive issues Direct, clear, open style of communication Considers impact before action Leads by example, showing a contagious passion and enthusiasm, engaging and motivating other CONCLUSION In conclusion Leadership behavior can help motivate team members of the workforce for the better or worse. Subordinates look to leadership for guidance, support and direction. If leadership’s behavior does not match their words of encouragement, morale and motivation can be lost. Leadership’s behavior is just as important as the words used to inspire subordinates. Motivation is the force behind what drives people to work more efficiently and go the extra mile. The Purpose The purpose and the reason of motivation are to inspire the workforce to take positive actions. What a leader does can motivate the workforce to respond with a desire to work harder and more efficiently. For example, if the leader is appreciative and demonstrates it with the use of words, gifts and rewards, her followers will be more motivated to remain dedicated to their work on her behalf. Leadership behavior that wins the trust from followers promotes a positive corporate culture and spurs people toward being motivated. The Method In order To be able to motivate employees the leadership behavior must expose a need in the followers and a proper solution for that need. For example if the leaders recognized that his or her followers are using outdated equipments that’s frustrating to work with and replace it the followers will feel more respected and more taken care of. In turn, this makes the loyalty and dedications to the leader. The leaders who use his behavior to respond to his followers needs will result in motivated followers. The Implementation Any kind of a leader needs to perform some actions and personal behavior to inspire his workforce to motivation. This can be done by participating in a democratic leadership style where followers are included in decision making processes by encouraging comments, asking the employees some questions and taking the their suggestions and ideas with seriously and consideration. Rewarding subordinates is another behavior that leaders use to produce motivated employees. The Considerations – Communication Skills The way a leader communicates has the ability to empower or discourage the workforce. Communication is the process of using spoken words (verbal) and nonverbal messages such as body language, facial expressions and tone of the voice to receive and send messages so The more effective a leader’s communications are, the more his workforce are provided direction, purposes and satisfaction. The Considerations – Listening Skills The leader who demonstrates an effective listening skill is able to send a strong message that he or she cares and is leading with the best interest of the team in mind. Listening skills include making mental actions, asking questions, recall the information back to the sender and responding the message. Effective listening also are able use nonverbal cues, such as body language and nodding the head, to let the other person know she is listening. References Armstrong, Michael (2006). A Handbook of Human Resource Management Practice (10th ed.). London: Kogan Page. ISBN  0-7494-4631-5. OCLC  62282248. personnel management. The Columbia Encyclopedia (Sixth Edition Ed.). Columbia University Press. 2005. bartleby.com/65/x-/X-personne.html. Retrieved 2007-10-17. personnel management see industrial management. Encyclopà ¦dia Britannica (kl ed.). Personnel administration is also frequently called personnel management, industrial relations, employee relations. Encyclopà ¦dia Britannica. Towers, David. Human Resource Management essays. towers.fr/essays/hrm.html. Retrieved 2007-10-17. Golding, N. (2010) Strategic Human Resource Management in Beardwell, J. and Claydon, T. (2010) Human Resource Management A Contemporary Approach, FT Prentice Hall Storey, J. (2007) What is strategic HRM? in Storey, J. (2007) Human Resource Management: A Critical Text, Thompson Paauwe, J. (2009) HRM and Performance: Achievement, Methodological Issues and Prospects Journal of Management Studies, 46 (1) Pfeffer, J. (1994) Competitive advantage through people, Harvard Business School Press Becker, B. and Gerhart, B. (1996) The impact of human resource management on organizational performance Academy of Management Journal 39 (4) 779-801   Kochan, T. and Barocci, T. (1985) Human Resource Management and Industrial Relations, Little Brown

Converting an Access 2010 Database to SQL Server

Converting an Access 2010 Database to SQL Server In time, most databases grow in size and complexity. If  your Access 2010 database is growing too large or unwieldy, you may need to allow more robust multiuser access to the database. Converting your Access database to Microsoft SQL Server database might be the solution you need. Fortunately, Microsoft provides an Upsizing Wizard in Access 2010 that makes it easy to convert your database. This tutorial  walks through the process of converting your database. Its important to note that if youre looking for a SQL Server tool that offers a similar migration path, you need to look at the SQL Server Migration Assistant.   What You Need Microsoft Access 2010Microsoft SQL ServerRelational DatabaseSQL Server administrative account  with permission to create a database Preparations for Upsizing an Access Database Before you begin the tutorial to convert your database to a SQL Server database, you need to do a few things: Back up the databaseMake sure you have plenty of disk  space on the device that will contain the upsized databaseAssign yourself permissions on the SQL Server databaseAdd a unique index  to each Access table that doesnt have one before you upsize it Converting an Access 2010 Database to SQL Server Open the database in Microsoft Access.Choose the Database Tools tab in the Ribbon.Click the SQL Server button located in the Move Data section. This opens the Upsizing Wizard.Select whether you want to import the data into an existing database or create a new database for the data. For this tutorial, assume that youre trying to create a new SQL Server database using the data in your Access database. Click Next to continue.Provide the connection information for the SQL Server installation. Youll need to provide the name of the server, credentials for an administrator with permission to create a database and the name of the database you want to connect. Click Next after providing this information.Use the arrow buttons to move the tables you want to transfer to the list labeled Export to SQL Server. Click the Next button to continue.Review the default attributes that will be transferred and make any changes desired. You have the option to preserve settings for table indexes, validation rules, and relationships, among other settings. When done, click the Next button to continue. Decide how you want to handle your Access application. You may choose to create a new Access client/server application that accesses the SQL Server database, modify your existing application to reference the data stored on SQL Server, or copy the data without making any changes to your Access database.Click Finish and wait for the upsizing process to complete. When you are finished, review the upsizing report for important information about the database migration. Tips This tutorial was written for Access 2010 users. The Upsizing Wizard first appeared in Access 97 but the specific process for using it varies in other versions.

Personal Statement for postgraduate Example | Topics and Well Written Essays - 1000 words

For postgraduate - Personal Statement Example With an admission in the said schools, I will be able to pursue my desire of obtaining higher education in the accounting and finance field specifically in International Business. Presently, I hold a diploma in accounting after successfully graduating in 2004. Moreover, I received further trainings from the Chevron Company from the year 2004 to 2006 where I was able to sharpen my skills and put the theoretical knowledge I obtained in school into practice. My academic qualification and excellence in the work place enabled me to get a scholarship to study a bachelor’s degree in Accounting and Finance for International Business at the Coventry University, after which I plan to pursue a postgraduate degree at the University of Warwick. With this opportunity, I will be able to advance my knowledge in the field of accounting and finance; in addition, I will also meet and interact with different people at the University, which provide me with an experience of new cultures thus preparing me to work in a multicultural organization. Since childhood, I have been a very social person who believes in making friends and expanding my social circle. From early teachings, I have always been brought up to invest in friendship and always interact with other members of the society. This has cultured in me a team spirit where I can comfortably act as a team player or a team leader as I relate well with other individuals around me. I provide invaluable contributions and participation to the team that I work with. Through cohesion with other team players, I always remain clear on the team objectives and I am always persistent in the pursuance of the team’s objectives and goals. I believe in the freedom of will and personal choice. I am always receptive of the ideas of other individuals. When in school and in the workplace, I always strive to

Zara case Essay Example | Topics and Well Written Essays - 250 words

Zara case - Essay Example Moreover, the main paper has also discussed how some aspects of supply chain relate to specific segments of the market and their impact to the breath of the industry including competition that leads into price variations. Ultimately, the paper has discussed some of the impacts that occur due to increase in the number if the retailing chains and the distribution outlets (Pisano & Adams, 2009). From the case study, facts can be drawn that supply chain strategy enhances balanced scorecard between customers and the organization. It also ensures that there are consistency and improvement in the value of production. The study has also given an insight how supply chain strategy must be made compatible with the market demands. Moreover, it draws an alignment to identify why there must be a proper link between supply chain and the satisfaction of the customers (Pisano & Adams, 2009). With VF brands as part of the cases study, it has clearly been pointed out that an organizational success can easily be achieved when a company is focused in the expansive innovation through wholesale and retail owned

Wannabe Bank Robber Essay Example for Free

Wannabe Bank Robber Essay I was randomly placed in a group with five other people in my drama class; we were given several stimuli and were told to think up an improvisation for each. We did so and were then told witch of the stimuli we would actually be working on. We then decided that we would create a comedy about an unfortunate bank robber. The comedy started with the lead character Victor Watt (Tom) standing centre stage in a white spotlight telling how, if the job had gone to plan, he would be rich Victor then exits up stage right. I, who was standing behind Victor, turns round and raises my hands then lowers them while wiggling my fingers and making the noise bidlyboop repetitively to comically signify going into the fantasy flashback, the stage then fades to black. The music (Little Green Bag from Reservoir Dogs) and lights come up on a fantasy scene in which Victors job goes exactly to plan and more. (The lights in this scene are more yellow to the side of the stage on which the bank is. ) As he walks in three ladies (Julie, Stacy Claire) look him up and down and he turns to the audience and winks. He waltzes into the bank (up stage left) winks at the female bank clerk (Kim) and receives his big bag of loot. He walks out (centre stage) and is intercepted by a police officer (Me) that thinks hes Clint Eastwood. The music stops and the police officer makes the tune from The Good, The Bad and The Ugly, Victor looks the police officer up and down and asks what the hell hes doing. The police officer responds to this by charging at Victor who cunningly side steps to evade his attack, this sends the police officer into an overly elaborate frenzy of a fall. After the deranged policeman is left face down half way down the street, Victor picks up two of the three ladies that flirted with him before he entered the bank leaving one (Julie). This last lady walks over to the face down police officer takes a look at him in disgust then continues to smoke. At this moment Victor looks back and whistles to this remaining female, all in a fluster she stubs out her cigarette on the police officers back and runs off to Victor who gentlemanly lets her leave first as he caches a gander at her rear. The music stops and again I stand centre stage and make the same action to signify returning to the present then the scene fades to black. The lights come up on Victor Watt who again is standing centre stage but this time explains that things never relay go to plan especially if the plan is his and that the next thing you are to see is what relay happened. He exits up stage right, I who again was standing behind Vic with my back to the audience turn round and make the same gesture this time to signify going into the real flashback. The lights go down. The lights come up on the same flashback scene minus the music. Victor walks in with a ripped old jacket over his hand and looking much less virile. Instead of women falling at his feet he is falling over his feet. The ladies take one look at him and blow a lung full of smoke in his face. He turns to the audience and rubs his bloodshot eyes. He stumbles as he puts his hand out to open the front door to the bank but manages to catch the handle, pull himself up (this was done planed in mime but was not acted out in the final performance) then open the door. He stagers into the bank and over to the bank clerk. When he removes his jacket he reveals the gun he was hiding, he points it with an extremely unsteady hand at the clerk. He then tells her, with an even more unsteady voice, to give him all the money. She turns round and presses the alarm. Victor panics and attempts to shot the gun but pulls the wrong trigger, the revolver opens and bullets fall out onto the floor. He runs for the door but the police sirens are already right outside the bank. A voice comes as if from nowhere and says, This is the police, come out with your hands up! then the scene fades to black. The lights come back up on Victor standing in a spotlight with his head hug. He looks up and states that that was his story but not to worry he make his fortune yet. There is then an unseen voice that says, Come on Victor, visitor times over. A large man dressed as a jail guard steps into the spotlight in front of Victor, with his back to the audience he turns Victor round and puts on his handcuffs, he then roughly pushes him out of the spotlight and follows him closely baton in hand. The scene then fades to black and the curtains close. I think our play was fairly well written and fairly well performed but it could have been better if we had a better set and props. To add a conclusion I am over all pleased with the outcome of Wannabe Bank Robber. Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Mary Shelley section.

Grading Scale: A Persisting Problem Among Students Essay -- Education,

Entering the classroom, sheets of white typing paper printed out sitting on the desks; starting the day off with the notification of the classroom grade can be a frightening thought. The eighteen year old, tall, and slender girl slides into her desk and prepares herself for what the paper holds for her future report card. Verbally, the teacher signals to flip over the piece of paper and look at semester grades. As the papers are being flipped, all at once negative cries shout out. This can not be right! There is something wrong! Why are there grades missing? Why is this not an A? As Aquilino states, â€Å"It’s not like they should get something they didn’t earn† (Roth 1). The teacher telling the students to settle down and sit in their seats quietly soars across the room. Worried faces, teary eyes, and trembling hands are seen in every student of the class. As the teacher thinks, who can really be blamed for a lower letter grade than wanted? There is on ly one answer, the student themselves. It is natural to slip once in a while in the classroom, but the grades permanently recorded on a grade point average never change. Since getting a bad grade can disappoint anyone, there are ways to solve this problem. As a senior these grades may have an affect on college, but in all ages the grading scale can be a problem. Whether it be the parent of a student, or the student themselves worrying about a grade in a class, there is a fix. Since more often than not, a student or parent has a problem with a student grade, however there is more than one solution for solving this grade dilemma. Nevertheless when dealing with dissatisfied grades, parents get involved. When it comes down to dealing with a final grade, the decision is betw... ... expected where students are carefree at times during school hours, but when it comes down to knowing the grading scales one must focus. There are solutions to solving problems that are sometimes fought between a teacher and a student and even between a teacher and parent. Extra credit, grading on a curve, college credits, and changing all scales to be equal are a few possible solutions to these problems. All problems in life have solutions, sometimes more than one. As shown through this paper, problems should not be stressed about, rather looked at by ways it can be improved upon. Grading scales can vary from class to class, but why worry when there are solutions to making students more educated rather than worrisome. Since more often than not a student or parent has a problem with a student grade; there is possible solutions for solving this grade dilemma.

Small Bussnes Ganha

Tourism accommodation business owners indicated factors such as maintaining lifestyle, being their own bosses, capitalizing on a business opportunity, generation of retirement income influence the decision to own/operate a small tourism accommodation businesses. These variables can be categorized as non-economic and economic factors. It was found that though the owners were motivated by commercial enterprise goals, these are subordinated to the pursuit of socially driven lifestyle motivation factors.Small tourism accommodation business owners in Ghana perceive the non- availability of skilled hospitality personnel and limited access to structured capitalist training programmed as the greatest challenge facing their industry. Key Words: Ghana, Small Tourism accommodation businesses, motivations, challenges INTRODUCTION Ghana has designated its tourism industry as one of the new growth sectors for economic development, employment generation and poverty reduction in its development fram ework document (growth and poverty reduction strategy (GAPS II, 2005).This development framework recognizes the tourism industry in Ghana as a growing, vibrant and dynamic one with a great potential for job creation. Ghana, like many sub-Sahara countries, has primarily an agrarian economy and produces few exportable services. Tourism has been identified as one area that can bring improvements in the services sector of the economy. In recent years there has been an expansion of investments in the tourism industry, especially the small tourism accommodation businesses sector.The total number of registered tourism accommodation businesses in Ghana as at 201 2 was 1,838. Compared to 420 and 1992. Of the 1838 hotel stock as at 2012, 69% can be classified as small tourism accommodation enterprises based on guestroom capacity of 15. Currently tourism is the fourth-largest foreign-exchange earner in Ghana after old and cocoa and foreign remittances. International tourist arrivals rose from 698,069 in 2008 to I in 201 1 with corresponding receipts from LOS$ 1. 4 Billion to CSS$ 2. Billion respectively, while direct and indirect jobs created by the sector increased from 234, 679 to 330, 514 during the period (GTAG, 2012). The government of Ghana acknowledges that accommodation businesses sector is an important part Of the Ghana tourism industry (NNTP, 1995) and has identified tourism accommodation businesses as catalysts for tourism development and by extension for the economic growth of the country as he industry is a major source of income and employment. The accommodation business sector in Ghana is 1 00 percent private sector owned and it characterized by many independent businesses.According to a recent survey, 69% of all tourism accommodation businesses in Ghana have less than 15 guestrooms and 88% of all tourism 2223-XX Copyright: 0 2014 AUGHT – Open Access- Online @ http//: accommodation businesses have less than 25 guestrooms and only 3 percent of these tourism accommodation businesses have more than 50 rooms (Mechanics, 2011; GET, 2012). The tourism accommodation businesses landscape fleets a large number of lower rated businesses, especially those in the budget category, 68%, which are typically small family owned and operated establishments.The rapid growth in the number of small tourism accommodation businesses in Ghana and the role they play in the promotion of tourism makes it imperative for a better understanding of the drivers in the sector. Interestingly, worldwide the tourism and hospitality industries are characterized by many small firms but generally, research in the tourism accommodation business sector has focused mostly on large tourism accommodation business chains. Invariably, not much research attention has been given to small independent especially those in developing countries such as Ghana.Although there is a growing body of high quality small business literature, much of it is general and few studies have foc used on small businesses (Thomas, 1998). Majority of research on small firms has focused on the personal attributes, motivations and practices of entrepreneurs and other economic and socio-demographic factors that affect small firms in general. It is generally acknowledged that sector differences play an important part in explaining the operations of small genuineness (Thomas, 1998) and the tourism accommodation business sector will benefit from such recognition with a sector focused research.Whiles many tourism accommodation businesses in Ghana can generally be classified as small firms, they have peculiar characteristics that need to be given an adequate amount of attention if we are to get a better understanding of how they operate. This paper examines the motivations and challenges of small tourism accommodation business owners in Ghana to get a better understanding of these factors. The outcome of the research will offer policy makers insights can influence their support aerogr amme for an efficient development of the tourism industry.LITERATURE REVIEW Defining Small Tourism accommodation businesses Morrison (1996) argues that traditionally the tourism industry has been dominated by small businesses and this still remains true. Globally, a common feature of businesses in the hospitality and tourism industry is that greater percentages, (95 percent), are small firms (See, Curran 1 996; Ashley and Rawson, 2006). This assertion holds in Ghana where 97 percent of all tourism firms are classified as small (NNTP, 2012).Small tourism accommodation businesses are a component of small tourism and capitalist firms, which can be classified as small businesses. However, what constitutes a small business is a major challenge in the SEEM (small and medium enterprises) literature (Curran & Storey, 1993). This is acknowledged by Morrison, (1996) who states that the term small businessmen is a difficult one to define. To date, there is no agreement in the literature about how small firms should be defined.The heterogeneity of small firms, their characteristics and global variety has led to it being defined in several ways. Storey (1994) concluded that there is no single, uniformly acceptable definition of a small firm. Several researchers have made significant efforts at defining small firms (See for example, Marked 1983; Gangly 1 985; Curran and Blackburn 1 991 ; GOES 1991; storey 1 994; Thomas 1 AAA, Addressed 1 999; Decker, Schaefer and Blander, 2006) but there is no consensus on these definitions. Existence of the numerous definitions of small firms has been attributed to the failure of most research to adequately identify the nature Of small firms leading to 2 various definitions being used in different research contexts. Storey (1994) is of the view that these various grounded define actions have been used according to he particular sector, geographic or other contexts in which the small firm is being examined. Curran et al. 1986:3) refer to th e â€Å"great deal of agonizing over the issue of definition by small businesses by researchers such as Bolton (1971 Banks and Cone (1983); and Curran and Stonewort (1 984), from which no satisfactory solutions have emerged†. One reason for such diverse definitions relates to size and sector differences of small firms. Definitions at sector level which relate quantitative measures Of size, such as number of employees, sales turnover, profitability and net worth, may mean that in some sectors all firms may be regarded as small, while in other sectors there are possibly no firms which are small.Burns (2001, p 8) argues, â€Å"being a small firm is not just about size defined in simple statistical terms and that small firms also have other important defining characteristics†. These need to be considered to have a full appreciation of a small firm. Existing literature on tourism and hospitality are not clear on definitions of small tourism and hospitality firm leading to v arious definitions being considered by various researches.Curran & Storey (1993) in making a case for defining small ours and hospitality firms differently, stated that though studies of small firms in the tourism and hospitality industry reflect a liberal usage of the term small firma to that found in the general small business literature it is important to highlight the principal features of these definitions as they affect tourism and hospitality firms. There is the opinion that service firms are better understood if their distinctiveness from manufacturing firms is recognized (Voss et al. 1988). The definition of small tourism and hospitality firms therefore must be informed by a consideration of what makes small tourism ND hospitality firms different from other small enterprises. The above notwithstanding, in developing a definition for small tourism and hospitality firms, which includes small (STABs), it is important that the definition be both comparable to other industries, while at the same time reflecting the unique characteristics of the tourism and hospitality industry (Morrison and Conway 2007).Beaver (2002) is of similar view and states that small firm definitions may need to incorporate the specific nature and context of respective industrial sectors if they are to be meaningful. Although defining small tourism and capitalist firms along tangible measures such as number of rooms and employees are essential, the intangible and qualitative features inherent in small firm ownership and management in general and at sector levels also needs some consideration if a meaningful definition is to be derived (Burns, 2001). Small Bussnes Ganha Tourism accommodation business owners indicated factors such as maintaining lifestyle, being their own bosses, capitalizing on a business opportunity, generation of retirement income influence the decision to own/operate a small tourism accommodation businesses. These variables can be categorized as non-economic and economic factors. It was found that though the owners were motivated by commercial enterprise goals, these are subordinated to the pursuit of socially driven lifestyle motivation factors.Small tourism accommodation business owners in Ghana perceive the non- availability of skilled hospitality personnel and limited access to structured capitalist training programmed as the greatest challenge facing their industry. Key Words: Ghana, Small Tourism accommodation businesses, motivations, challenges INTRODUCTION Ghana has designated its tourism industry as one of the new growth sectors for economic development, employment generation and poverty reduction in its development fram ework document (growth and poverty reduction strategy (GAPS II, 2005).This development framework recognizes the tourism industry in Ghana as a growing, vibrant and dynamic one with a great potential for job creation. Ghana, like many sub-Sahara countries, has primarily an agrarian economy and produces few exportable services. Tourism has been identified as one area that can bring improvements in the services sector of the economy. In recent years there has been an expansion of investments in the tourism industry, especially the small tourism accommodation businesses sector.The total number of registered tourism accommodation businesses in Ghana as at 201 2 was 1,838. Compared to 420 and 1992. Of the 1838 hotel stock as at 2012, 69% can be classified as small tourism accommodation enterprises based on guestroom capacity of 15. Currently tourism is the fourth-largest foreign-exchange earner in Ghana after old and cocoa and foreign remittances. International tourist arrivals rose from 698,069 in 2008 to 1 in 201 1 with corresponding receipts from ISIS 1. 4 Billion to CSS$ 2. Billion respectively, while direct and indirect jobs created by the sector increased from 234, 679 to 330, 514 during the period (GTAG, 2012). The government of Ghana acknowledges that accommodation businesses sector is an important part Of the Ghana tourism industry (NNTP, 1995) and has identified tourism accommodation businesses as catalysts for tourism development and by extension for the economic growth of the country as he industry is a major source of income and employment. The accommodation business sector in Ghana is 1 00 percent private sector owned and it characterized by many independent businesses.According to a recent survey, 69% of all tourism accommodation businesses in Ghana have less than 15 guestrooms and 88% of all tourism 2223-XX Copyright: 0 2014 AUGHT – Open Access- Online @ http//: accommodation businesses have less than 25 guestrooms and only 3 percent of these tourism accommodation businesses have more than 50 rooms (Mechanics, 2011; GET, 2012). The tourism accommodation businesses landscape fleets a large number of lower rated businesses, especially those in the budget category, 68%, which are typically small family owned and operated establishments.The rapid growth in the number of small tourism accommodation businesses in Ghana and the role they play in the promotion of tourism makes it imperative for a better understanding of the drivers in the sector. Interestingly, worldwide the tourism and hospitality industries are characterized by many small firms but generally, research in the tourism accommodation business sector has focused mostly on large tourism accommodation business chains. Invariably, not much research attention has been given to small independent especially those in developing countries such as Ghana.Although there is a growing body of high quality small business literature, much of it is general and few studies have foc used on small businesses (Thomas, 1998). Majority of research on small firms has focused on the personal attributes, motivations and practices of entrepreneurs and other economic and socio-demographic factors that affect small firms in general. It IS generally acknowledged that sector differences play an important part in explaining the operations of small genuineness (Thomas, 1 998) and the tourism accommodation business sector will benefit from such recognition with a sector focused research.Whiles many tourism accommodation businesses in Ghana can generally be classified as small firms, they have peculiar characteristics that need to be given an adequate amount of attention if we are to get a better understanding of how they operate. This paper examines the motivations and challenges of small tourism accommodation business owners in Ghana to get better understanding of these factors. The outcome of the research will offer policy makers insights can influence heir support programm ed for an efficient development of the tourism industry.LITERATURE REVIEW Defining Small Tourism accommodation businesses Morrison (1996) argues that traditionally the tourism industry has been dominated by small businesses and this still remains true. Globally, a common feature of businesses in the hospitality and tourism industry is that greater percentages, (95 percent), are small firms (See, Curran 1 996; Lassies and Rawson, 2006). This assertion holds in Ghana where 97 percent of all tourism firms are classified as small (NNTP, 2012).Small tourism accommodation businesses re a component of small tourism and hospitality firms, which can be classified as small businesses. However, what constitutes a small business is a major challenge in the SEEM (small and medium enterprises) literature (Curran & Storey, 1993). This is acknowledged by Morrison, (1996) who states that the term small business; is a difficult one to define. To date, there is no agreement in the literature about how small firms should be defined.The heterogeneity of small firms, their characteristics and global variety has led to it being defined in several ways. Storey (1994) concluded that there is no ingle, uniformly acceptable definition of a small firm. Several researchers have made significant efforts at defining small firms (See for example, Marked 1983; Gangly 1 985; Curran and Blackburn 1 991 ; GOES 1991; storey 1 994; Thomas 1 AAA, Addressed 1 999; Decker, Schaefer and Blander, 2006) but there is no consensus on these definitions. Existence of the numerous definitions of small firms has been attributed to the failure of most research to adequately identify the nature Of small firms leading to 2 various definitions being used in different research contexts. Storey (1994) is of the IEEE that these various groundedÃ'Å¡ define actions have been used according to the particular sector, geographic or other contexts in which the small firm is being examined. Curran et al. 1986:3) refer to t he â€Å"great deal of agonizing over the issue of definition by small businesses by researchers such as Bolton (1971 Banks and Cone (1983); and Curran and Stonewort (1 984), from which no satisfactory solutions have emerged†. One reason for such diverse definitions relates to size and sector differences of small firms. Definitions at sector level which relate quantitative measures Of size, such as number of employees, sales remover, profitability and net worth, may mean that in some sectors all firms may be regarded as small, while in other sectors there are possibly no firms which are small.Burns (2001, p 8) argues, â€Å"being a small firm is not just about size defined in simple statistical terms and that small firms also have other important defining characteristics†. These need to be considered to have a full appreciation of a small firm. Existing literature on tourism and hospitality are not clear on definitions of small tourism and hospitality firm leading to v arious definitions being considered by various researches.Curran & Storey (1993) in making a case for defining small tourism and hospitality firms differently, stated that though studies of small firms in the tourism and hospitality industry reflect a liberal usage of the term small firma to that found in the general small business literature it is important to highlight the principal features of these definitions as they affect tourism and hospitality firms. There is the opinion that service firms are better understood if their distinctiveness from manufacturing firms is recognized (Voss et al. 1988). The definition of small tourism and hospitality firms Hereford must be informed by a consideration of what makes small tourism and hospitality firms different from other small enterprises. The above notwithstanding, in developing a definition for small tourism and hospitality firms, which includes small (STABs), it is important that the definition be both comparable to other industrie s, while at the same time reflecting the unique characteristics of the tourism and hospitality industry (Morrison and Conway 2007).Beaver (2002) is of similar view and states that small firm definitions may need to incorporate the specific nature and context of respective industrial sectors if they are to be meaningful. Although defining small tourism and hospitality firms along tangible measures such as number of rooms and employees are essential, the intangible and qualitative features inherent in small firm ownership and management in general and at sector levels also needs some consideration if a meaningful definition is to be derived (Burns, 2001).Such intangible and qualitative features include lifestyle business motivations that have been identified in relation to micro and small-scale tourism firms (Locker and Morrison, 1999; Buick et al. , 2000; Get and Carlson, 2000; Kampala, 2004). From this perspective, qualitative social rewards may be priorities over those of a quantit atively defined economic nature (Appleton et al. , 2004). Thus, Morrison and Conway (2007) argue that any meaningful definition of small tourism and hospitality firms need the recognition, justification and combination of the associated quantifiable and qualified features.

Mice and men Explore the themes of loneliness in ‘Of mice and men’ Essay

The story ‘of mice and men’ had lots of lonely people with no family and no friends; that’s the reason why Lennie and George are different is because they have got somebody who cares for them. Most of the characters in the novel feel scared of showing their true emotions. For example, when candy’s dog was about to get shot candy didn’t tell the other workers that he needed the dog and that is was a friend to him. I don’t think any of the characters want to show weakness. The title of the novel is ‘of mice and men’ was written in the 1300s. At the time of the novel there were many workers who travelled form ranch to ranch looking for jobs. The most isolated group at the time were Negroes be cause they were considered inferior and no one wanted to be with them. There were no laws against racism and it was tolerated all over the country. Crooks is the stable buck and he is a Negro so he is also the loneliest man on the ranch. His race and colour made him isolated from all the other members of the group. A lot of people bully crooks; Curley’s wife says, ‘Well, you keep your place, then, nigger. I could get you strung up to a tree so easy it isn’t true.’ Crooks is a proud man and also the most educated as well; he reads lots of books but the most important book is the 1905 California civil code. This book says that Crooks is no slave and can do what he wishes with his life but nobody takes this into consideration because he is still treated as a slave, which they can push around. Once on Christmas day the workers forced crooks to fight even though he had a bad back. All the other workers think they can make Crooks do what they want. He is isolated from the others; he doesn’t go to talk to them and they don’t come to talk to him. There is only one person that come s into Crook’s hut and that is Slim. Crooks is very proud because he knows that he is free and he keeps himself aloof from all the other workers. He doesn’t talk to any of the other workers, he says, ‘Books ain’t no good. A guy needs somebody-to be near him. A guy goes nuts if he ain’t got nobody’. This is from a conversion which he has with Lennie. Crooks spent the most time working on the ranch and the only person he tells his true feelings to is to Lennie. Because Crooks knows that Lennie would probably forget. Near the end of chapter four crooks starts to get along with Candy. Crooks even offers to work on the ranch which George ,Candy and Lennie are going to go to but after Curley’s wife threatens Crooks and then he says ,’ well, just forget it . I didn’t mean it. Just fooling’. This shows the reader that crooks knows that he will never be treated differently.

Tax Return Reviews by the Canada Revenue Agency

Tax Return Reviews by the Canada Revenue Agency Because the Canadian tax system is based on self-assessment, every year the Canada Revenue Agency (CRA) conducts a series of reviews of the tax returns submitted to see what mistakes are being made and to ensure compliance with the Canadian income tax laws. The reviews help the CRA to correct areas of misunderstanding and to improve the guides and information they provide to the Canadian public. If your income tax return is selected for a review, it is not the same thing as a tax audit. How Tax Returns Are Chosen for Review Four main ways that a tax return is selected for a review are: randomlycomparing tax returns with other sources of information, such as tax information slipsthe type of tax credits or deduction claimedthe review history of an individual, for example, checking to ensure that an adjustment was made to a claim that was reviewed. It doesnt make any difference whether you file your tax return online or by mail. The process of review selection is the same. When Tax Reviews are Done Most Canadian income tax returns are initially processed without a manual review and a Notice of Assessment and tax refund (if appropriate) are sent as soon as possible. That usually is done about two to six weeks after the CRA receives the return. All tax returns are screened by the CRAs computer system, though, and a tax return may be selected for a review later. As pointed out by the CRA in the General Income Tax and Benefit Guide, all taxpayers are required by law to keep receipts and documents for at least six years in the case of review. Types of Tax Reviews The following types of reviews give an idea of when you could expect a tax review. Pre-assessment Review: These tax reviews are done before a Notice of Assessment is issued. The peak time frame is February to July.Processing Review (PR): These reviews are done after a Notice of Assessment is sent. The peak time is August to December.Matching Program: This program takes place after the Notice of Assessment has been sent. Information on tax returns is compared with information from other sources, such as T4s and other tax information slips. The peak period is from October to March. The Matching Program corrects the net income reported by individuals and corrects errors in a taxpayers RRSP deduction limit and spouse-related claims such as child-care expenses and provincial and territorial tax credits and deductions. The Matching Program also covers the Beneficial Client Adjustments initiative which identifies under-claimed credits relating to tax deducted at source or Canada Pension Plan contributions. The tax return is adjusted and a Notice of Reassessment is issued. Special Assessments: These tax reviews are done both before and after a Notice of Reassessment is issued. They identify both trends and individual situations of non-compliance. Requests for information are sent to the taxpayer. How to Respond to a CRA Tax Review In a tax review, the CRA first tries to verify the taxpayers claim using the information they have from third-party sources. If the agency needs more information, a CRA representative will contact the taxpayer by phone or in writing. When you respond to a CRA request, be sure to include the reference number found on the upper right corner of the letter. Answer within the time frame specified. Be sure to provide all documents and/or receipts requested. If all receipts or documents arent available, include a written explanation or call the number on the bottom of the letter with the explanation. If your tax return is being reviewed under the Processing Review (PR) Program, you may be able to send scanned documents online using the CRAs guidelines for submitting documents electronically. Questions or Disagreements? If you have questions or disagree with information received from a CRA tax review program, first call the phone number given in the letter you received. If you still dont agree after talking to the CRA, then you have the right to a formal review. See Complaints and Disputes for more information.

How to Create an Exothermic Chemical Reaction

How to Create an Exothermic Chemical Reaction Exothermic chemical reactions produce heat. In this reaction, vinegar is used to remove the protective coating from steel wool, allowing it to rust. When the iron combines with oxygen, heat is released. This takes about 15 minutes. What You Need ThermometerJar with lidSteel woolVinegar Instructions Place the thermometer in the jar and close the lid. Allow about 5 minutes for the thermometer to record the temperature, then open the lid and read the thermometer.Remove the thermometer from the jar (if you didnt already in Step 1).Soak a piece of steel wool in vinegar for 1 minute.Squeeze the excess vinegar out of the steel wool.Wrap the wool around the thermometer and place the wool/thermometer in the jar, sealing the lid.Allow 5 minutes, then read the temperature and compare it with the first reading. Results Not only does the vinegar remove the protective coating on the steel wool, but once the coating is off, its acidity aids in oxidation (rust) of the iron in the steel.The thermal energy given off during this chemical reaction causes the mercury in the thermometer to expand and rise up the column of the thermometer tube.In the rusting of iron, four atoms of solid iron react with three molecules of oxygen gas to form two molecules of solid rust (iron oxide).

Why Projcts Fail in Airbus-A380 Essay Example | Topics and Well Written Essays - 2500 words

Why Projcts Fail in Airbus-A380 - Essay Example However, these constraints can also be properly addressed through the right management process. The work at hand tries to elaborate this point. However, crucial to this analysis is the inclusion of important aspects or components of the modern management theory. The modern management theory has a significant link to the actual explanation of the failure associated with the Airbus A380 project. For this reason, the work at hand also includes the common approaches involved in the modern management approaches. However, more than this, the factors in modern management theory is necessary for inclusion because the entire discussion pertains more to the actual factors involved in the failure of Airbus A380 project. Airbus A380 project is a highly technical project, but its nature has nothing to do with the prevailing thought regarding the right implementation of the factors involved in the modern management theory. For this reason, the work at hand has significantly included the remarkable thought concerning on how planning, coordination, organising, command or communication and control should be critically considered in the case. This is the rationale of the work at hand and in order to implement this, the actual problems faced by Airbus A380 project prior to its failure were critically discussed. The actual strength of the analysis lies on the point that the work at hand has remarkably consulted various reliable academic articles as the bases of the argument. However, the limitation lies on the fact that there are only few studies trying to reflect on the kind of problems or failure that Airbus A380 project faced. For this reason, another substantial feature of the discussion reflects on the ability of the proponent to intuitively relate the prevailing concepts linked to the modern management theory and the case of Airbus A380 project failure. Moreover, the main argument in the paper lies on the point that