Paper on Music in Times of Conflict Essay Example | Topics and Well Written Essays - 750 words - 1

Paper on Music in Times of Conflict - Essay Example escalated over the years as it used its massive firepower, advanced technology, and huge manpower to suppress Vietcongs, who were mostly farmers armed with recoilless rifles (â€Å"Enemy’s Weapons†). Until now, Americans are divided in their sentiments about the war (Schroeder). This may have been because U.S. involvement did not bring any substantial change to Vietnam. It only caused America to lose â€Å"58,000 lives and billions of tax dollars† (Schroeder). The Vietnam War began in 1963 and ended in 1975. â€Å"Machine Gun† by Jimi Hendrix was first performed in a concert on New Year’s Eve of 1970 (Perone 62). It is likely that the song was composed in the closing months of 1969. Hence, it was composed during the war. 1969 is also the year when the number of U.S. military personnel in Vietnam reached its peak and the year when My Lai Massacre, a massacre of 504 unarmed Vietnamese civilians, was revealed (â€Å"Vietnam War Timeline†). The 1960s was a decade when music has become very political. There was no other period in music history when it embraced politics more closely as it did in the 1960s (Hopkins 255). Jimi Hendrix was among those musicians who expressed their political sentiments through their craft. There is no record on how it affected Vietnam War politically. However, several researchers attest that it did affect public sentiment towards the war. Westergaard, describing Hendrix’s guitar solo during the performance, says it is â€Å"the most devastating guitar solo ever† (qtd. in Perone 62)—hinting at the feeling of war terror it gave to listeners and the dismantling of pro-war sentiments on some. In reference to the My Lai Massacre, Hopkins writes that during the performance, sounds like â€Å"dive-bombing planes and Vietnamese women shrieking at the sight of their children’s deaths† were heard by the audience (255). Such effect on the audience is likely to have ar oused or increased anti-war sentiments among Americans. As the lyrics implies,

Christina Rossetti Essay Example for Free

Christina Rossetti Essay †¢ Christina Rossetti was the youngest of four children †¢ Mother- Gabriele Rossetti, an Italian patriot who came to London in 1824. †¢ She had one sister, Maria, and two brothers, Dante Gabriel and William. †¢ Brought up as devout Anglo-Catholics. Christinas elder sister Maria eventually became an Anglican nun. †¢ In 1848 she became engaged to James Collinson, a member of her brothers Pre-Raphaelite circle. (broke it off when he became a Roman Catholic. †¢ Next she fell in love with Charles Cayley ( she broke it off because of religious differences. †¢ Her brother William said: She enquired into his creed and found he was not a Christian. Rossettis definition of Christianity was narrower and more evangelical than most peoples. †¢ Like many unmarried middle-class women of that period, Rossetti did not have any paid employment, except for about a year when she and her mother tried to run a day school after failing health and eyesight forced her father to retire in 1853. †¢ Christina Rossettis family was very important to her. Although she loved two different men, and it is clear from her poetry that she could express feelings of love and the heartbreak of losing love, she never married or broke away from home. Her brothers and sister were central to her emotions and she was deeply upset by Dante Gabriels nervous breakdown in 1872. †¢ He died in 1882; she lived as a recluse at home, concentrating on her religious life. †¢ After a period of ill health Christina Rossetti died of cancer on 29 December 1894. Her Poetry †¢ Poetry inspired by her religion. †¢ Many poems, such as When I am Dead, My Dearest, Remember and Up-Hill, are concerned with the nearness of death and the renunciation of earthly love. †¢ Her love of God is passionately expressed in Long Barren, and her poem In the Bleak Mid- Winter is well known as a Christmas carol. †¢ Also a poet who demonstrates in her work, a love of nature. Another Spring and Spring Quiet show an exactness of observation which her Pre-Raphaelite brothers would have undoubtedly appreciated. †¢ Her poem A Birthday is a rapturous expression of delight in love. †¢ She also shows a malicious appreciation of sisterly jealousies in her poem Two Noble Sisters. †¢ Among her works is Sing-Song, A Nursery Rhyme Book, published in 1872, which contains lyrics for young children. †¢ Many people consider that her best work is Goblin Market (1862), the longest of her poems. Because goblins sound as if they belong in a fairy story, it is often put in collections for young children. However, it is really a short epic poem for adults. †¢ The most obvious quality of the writing is the exactness and sensuousness of her descriptions of the fruit sold by the goblins. Comparisons to Other poets †¢ The nearest comparison in English poetry to this must be the description of the feast in Keats The Eve of St Agnes. The most striking thing about the subject matter is its eeriness. †¢ Some people have seen this poem as an allegory, in which the fruits offered by the goblins stand for the pleasures of the world, though according to Christinas brother William she denied that it was anything more than a fairy story. †¢ However, many modern readers may make a connection with the temptations and effects of narcotic drugs. †¢ This may not be a connection that Rossetti intended, but the description of Laura yielding to temptation and her subsequent illness would have been familiar to such families as the Brontà «s, whose brother Branwell died of an addiction to drink and drugs, and to Coleridge, who suffered from a lifelong addiction to opium.

Female Genital Mutilation Essay -- essays research papers fc

The practice of female genital mutilation, also known as female circumcision, occurs throughout the world, but it is most common in Africa. Female genital mutilation is a tradition and social custom to keep a young girl pure and a married woman faithful. In Africa it is practiced in the majority of the continent including Kenya, Nigeria, Mali, Upper Volta, Ivory Coast, Egypt, Mozambique and Sudan. It is a cross-cultural and cross-religious ritual, which is performed by Muslims, Coptic Christians, Protestants, Catholics and members of various indigenous groups.   Ã‚  Ã‚  Ã‚  Ã‚  Female genital mutilation is usually performed on girls before they reach puberty. It is a procedure where either part or the entire clitoris is surgically removed leaving a reduced or total lack of sexual feeling. This procedure is an attempt to reduce the sex drive of women, making them less likely to be sexually active before marriage or engage in extra-marital affairs. Although this procedure can be seen as a means to control a woman’s sexuality, the act of female circumcision determines the gender identity of women. A circumcised woman is a virgin, ready for marriage and to bear children for her husband, â€Å"Girls who are infibulated will probably not find husbands. In most cases they will become outcasts.†   Ã‚  Ã‚  Ã‚  Ã‚  Female genital mutilation is not a new practice. In fact circumcised females have been discovered among the mummies of ancient Egyptians. A Greek papyrus dated 163 BC refers to operations performed on girls at the age they received their dowries. A Greek geographer reported the custom of circumcision of girls he found while visiting Egypt in 25 BC. In Africa female circumcision has been reported in at least twenty-six countries and can be viewed as a public health problem â€Å"because of its wide geographic distribution, the number of females involved and the serious complications caused by the operation.†   Ã‚  Ã‚  Ã‚  Ã‚  Female genital mutilation is practiced in three major forms: â€Å"Sunna† circumcision, Clitoridectomy, and Infibulation. Sunna circumcision consists of the removal of the tip of the clitoris and/or the prepuce (covering). Clitoridectomy, also referred to as excision, consists of the removal of the entire clitoris (both prepuce and glans) and removal of the adjacent labia. Infibulation, also referred to as phara... ...s, and aunts footsteps, which would bring shame against herself and tarnish her family honor. Female genital mutilation is such a brutal and barbaric practice that it is amazing it is still occurs today. The health hazards associated with it should be enough to have it terminated. However, the reasons women have forgoing through with the operation is the custom of female genital mutilation is so engrained in their sociocultural system. The importance of family honor, virginity, chastity, purity, marriageability, and childbearing in these societies cannot be overstressed. Therefore in the minds of the people who adhere to this belief, the benefits gained from this operation for the girl and her family far outweigh any potential danger.   Ã‚  Ã‚  Ã‚  Ã‚   Works Cited Female Genital Mutilation. See: http://www.religioustolerance.org/fem_cirm.htm Female Genital Mutilation Research Homepage. See: http://www.hollyfield.org/fgm/ Kouba, Leonard and Judith Muasher 1985 Female Circumcision in Africa: an Overview. African Studies Review 28:95-110. Van Der Kwaak, Anke 1992 Female Circumcision and Gender Identity: A Questionable Alliance? Social Science and Medicine 35(6):777-787.

Commentary Miss Clarissa Harlowe to Miss Howe

The extract taken from Samuel Richardson's Clarissa is a letter from Miss Clarissa Harlowe to her sister Miss Howe. In the letter, Miss Clarissa expresses her situation and her feels, as she slows builds up her trouble to the point where she becomes powerless and entangled. Her trouble is that she's in a situation where she's trapped by the events caused by two people whom both she dislikes, Mr. Lovelace who bothers her with improper suggestions and Mr. Solmes, who she's soon going to be married to. The extract is written in first person, since it is the actual letter itself where the writer describes her using the most common form â€Å"I†. This gives a more clear view towards the writer, Clarissa's inner emotions and thoughts. It is a piece of epistoltory writing, where the passage is constructed by short paragraphs that add intensity to the content. The passage starts with a factual tone where Miss Clarissa Harlowe describes her illicit correspondence with Mr. Lovelace by mentioning the letter he deposited in the private garden. The phrase â€Å"private place† suggest secrecy and illicitness of the correspondence and adds a sense of mystery. Speech marks are open in the second paragraph but there's no direct speech but only a summary of the situation, concerning time and place. In the factual summary, there's the omission of the names of people, and this implies that her sister Miss Howe knows the characters she mentions, and further, they must have a close relationship for her to know them. This is implication is corresponded with another implication that Miss Howe is not confused by the numerous pronouns used, that suggest she knows the situation well. The third paragraph is a complaint, that's slightly unfriendly and abrupt. The phrase â€Å"no one† gives a strong sense of accusation towards Mr. Lovelace. There's a sense of real trouble that builds up as the passage moves along. Her sister's, as well as her family's dislike towards Mr. Lovelace are expressed in the insults â€Å"upon him† and the preferring of M. Solmes stead of him. Trouble is suggested by the adding of bad relations of her family with Mr. Lovelace that makes the illicit correspondence dangerous. Mr. Lovelace's words about himself being more suitable for marriage than M. Solmes are polite and serious. He speaks of settlement, that includes wealth, money, land, which are all proper considerations of marriage. The â€Å"regularity of his life and manners† is a more serious expression that he had no bad habits. However, his bad habits are before his addresses to her, which implies that he had bad habits before. The politeness is suggested in the word â€Å"addresses†, as well as the phrase â€Å"he will not disgrace himself† and â€Å"hope of my favor†. However, contrary to Mr. Lovelace's polite offerings, the family and him are at bad terms, implied by the use of the imperative word â€Å"must† in his proposals, which suggest that the family will not likely accept them. Clarissa continues to use revelatory language to describe her situation with Mr. Lovelace. Her language reveals what Mr. Lovelace wants, says and what he will do in his letter. For example â€Å"he will submit to any measures that I shall prescribe, in order to bring about a reconciliation. † Along with his polite offerings, Mr. Lovelace tries to show that he has no bad intentions by the suggestion of a meeting â€Å"attended by whom I please†. Mr. Lovelace's suggestions are all improper, wild and impossible. Young women do not meet men at nighttime in some garden because reputation mattered. It was improper to offer her an asylum when she should be tyrannically treated and it was almost impossible for her friends to drive her into a foreign protection. She is offended towards the suggestions because she mentions them. M. Lovelace's suggestions condemn itself because its impossibility and improperness are all implied. The paradox exists when she mentions, â€Å"I had given him great encouragement† as well as the improper suggestions that she's offended to. It emphasizes the improperness of the suggestions and her feeling of being offended. Clarissa's retelling of Mr. Lovelace's description of himself, contrasts with Mr. Lovelace's improper, impossible suggestions. One is polite, serious while the other abrupt and offensive. The contrast further intensifies the feeling of being offended by Clarissa. In contrast to her strong feeling, her comments are reduced to only four lines while the majority of the description is about Mr. Lovelace. She moves to the inequality between man and woman where she finds women are too complaisant or bashful. There's an indication of the arrogance of men where women are entangled by old supposals and offers. However, inequality is only pinpointed with a few lines. There's the omission of detail of the inequality she mentions, as well as the omission of detail in her descriptions of her situation. Further there's the omission of Mr. Lovelace's emotions although he is the one that offers and suggestions. Later, she reanalyzes her own background, where she uses the alliteration â€Å"drawn and driven† that presents a sense of entrapment and powerlessness. Her emotions are shown through her heart, that condemns the â€Å"mere lover-like correspondence†. The sense of entrapment is further shown by the idea of things that crowds on her, where she could not â€Å"break it off†. The paradox between her being crowded by the idea of things and her being alone also strengthen the sense of entrapment. The demanding of advice from her sister suggests her alones and that she has to confide to someone not living there to seek her help. She sees love as entanglement, as she condemns the lover-like correspondence. The correspondence had caused the unhappy situation, â€Å"more and more entangled†. She not only dislikes Mr. Lovelace, but also Mr. Solmes, as she mentions that she wants break off the marriage. She's eager to escape the entanglement and seeks to be free, shown by her wishing to â€Å"put an end to it†. This is supported by the desperate tone she has, as she points clearly to her suffering by obvious words such as â€Å"unhappy. Her tone is also pessimistic, as she uses words such as â€Å"extricate†, which has a negative meaning. My personal response is that her entanglement is very difficult to resolve since she's going to marry soon. If she breaks off the marriage, it would cause Mr. Solmes to misunderstand her that she accepts his improper suggestions. Her problem is tragic and inevitable to avoid. For that, I feel sorry for her.

Gainesboro Machine Tools Corporation Essay

Synopsis and Objectives In mid September 2005, Ashley Swenson, the chief financial officer (CFO) of a large computer-aided design and computer-aided manufacturing (CAD/CAM) equipment manufacturer needed to decide whether to pay out dividends to the firm’s shareholders, or to repurchase stock. If Swenson chose to pay out dividends, she would have to also decide upon the magnitude of the payout. A subsidiary question is whether the firm should embark on a campaign of corporate-image advertising, and change its corporate name to reflect its new outlook. The case serves as an omnibus review of the many practical aspects of the dividend and share buyback decisions, including (1) signaling effects, (2) clientele effects, and (3) the finance and investment implications of increasing dividend payouts and share repurchase decisions. This case can follow a treatment of the Miller-Modigliani1 dividend-irrelevance theorem and serves to highlight practical considerations to consider when setting a firm’s d ividend policy. Suggested Questions for Advance Assignment to Students The instructor could assign supplemental reading on dividend policy and share repurchases. Especially recommended are the Asquith and Mullins article2 on equity signaling, and articles by Stern Stewart on financial communication.3 1.In theory, to fund an increased dividend payout or a stock buyback, a firm might invest less, borrow more, or issue more stock. Which of those three elements is Gainesboro’s management willing to vary, and which elements remain fixed as a matter of the company’s policy? 2.What happens to Gainesboro’s financing need and unused debt capacity if: a. no dividends are paid? b. a 20% payout is pursued? c. a 40% payout is pursued? d. a residual payout policy is pursued? Note that case Exhibit 8 presents an estimate of the amount of borrowing needed. Assume that maximum debt capacity is, as a matter of policy, 40% of the book value of equity. 3. How might Gainesboro’s various providers of capital, such as its stockholders and creditors, react if Gainesboro declares a dividend in 2005? What are the arguments for and against the zero payout, 40% payout, and residual payout policies? What should Ashley Swenson recommend to the board of directors with regard to a long-term dividend payout policy for Gainesboro Machine Tools Corporation? 4. How might various providers of capital, such as stockholders and creditors, react if Gainesboro repurchased its shares? Should Gainesboro do so? 5.Should Swenson recommend the corporate-image advertising campaign and corporate name change to the Gainesboro’s directors? Do the advertising and name change have any bearing on the dividend policy or the stock repurchase policy that you propose? Supporting Computer Spreadsheet Files For students: Case_25.xls For instructors: TN_25.xls Hypothetical Teaching Plan 1.What are the problems here, and what do you recommend? The CFO needs to resolve the issue of dividend payout in order to make a recommendation to the board. She must also decide whether to embark on a stock repurchase program given a recent drop in share prices. The problems entail setting dividend policy, deciding on a stock buyback, and resolving the corporate-image advertising campaign issue. But numerical analysis of the case shows that the problem includes other factors: setting policy within a financing constraint, signaling the directors’ outlook, and generally, positioning the firm’s shares in the equity market. 2.What are the implications of different payout levels for Gainesboro’s capital structure and unused debt capacity? The discussion here must present the  financial implications of high-dividend payouts, particularly the consumption of unused debt capacity. Because of the cyclicality of demand or overruns in investment spending, some attention might be given to a sensitivity analysis cast over the entire 2005 to 2011 period. 3.What is the nature of the dividend decision that Swenson must make? What are the pros and cons of the alternative positions? (Or alternatively, Why pay any dividends?) How will Gainesboro’s various providers of capital, such as its stockholders and bankers, react to a declaration of no dividend? What about the announcement of a 40% payout? How would they react to a residual payout? The instructor needs to elicit from the students the notions that the dividend-payout announcement may affect stock price and that at least some stockholders prefer dividends. Students should also mention the signaling and clientele considerations. 4.What risks does the firm face? Discussion following this question should address the nature of the industry, the strategy of the firm, and the firm’s performance. This discussion will lay the groundwork for the review of strategic considerations that bears on the dividend decision. 5.What is the nature of the share repurchase decision that Swenson must make? How would this affect the dividend decision? The discussion here must present the repercussions of a share repurchase decision on the share price, as well as on the dividend question. Signaling and clientele considerations must also be considered. 6.Does the stock market appear to reward high-dividend payout? What about low-dividend payout? Does it matter what type of investor owns the shares? What is the impact on share price of dividend policy? The data can be interpreted to support either view. The point is to show that simple extrapolations from stock market data are untrustworthy, largely because of econometric problems associated with size and omitted variables (see the Black and Scholes article) .4 7.What should Swenson recommend? Students must synthesize a course of action from the many facts and considerations raised. The instructor may choose to stimulate the discussion by using an organizing framework such as FRICTO (flexibility, risk, income, control, timing, and other) on the dividend and share repurchase issues. The image advertising and name change issue will be recognized as another  manifestation of the firm’s positioning in the capital markets, and the need to give effective signals. The class discussion can end with the students voting on the alternatives, followed by a summary of key points. Exhibits TN1 and TN2 contain two short technical notes on dividend policy, which the instructor may either use as the foundation for closing comments or distribute directly to the students after the case discussion. Case Analysis Gainesboro’s asset needs The company’s investment spending and financing requirements are driven by ambitious growth goals (a 15% annual target is discussed in the case), which are to be achieved by a repositioning of the firm—away from its traditional tools-and-molds business and beyond its CAD/CAM business into a new line of products integrating hardware and software—to provide complete manufacturing systems. CAD/CAM commanded 45% of total sales ($340.5 million) in 2004 and is expected to grow to three-quarters of sales ($1,509.5 million) by 2011, which implies a 24% annual rate of growth in this business segment over the subsequent seven years. In addition, international sales are expected to grow by 37% compounded over the subsequent seven years.5 By contrast, the presses-and-molds segment will grow at about 2.7% annually in nominal terms, which implies a negative real rate of growth in what constitutes the bulk of Gainesboro’s current business.6 In short, the company’s asset needs are driven primarily by a shift in the company’s strategic focus. Financial implications of payout alternatives The instructor can guide the students through the financial implications of various dividend-payout levels either in abbreviated form (for one class period) or in detail (for two classes). The abbreviated approach uses the total cash flow figures (that is, for 2005–2011) found in the right-hand column of case Exhibit 8. In essence, the approach uses the basic sources-and-uses of funds identity: Asset change = New debt + (Profits − Dividends) With asset additions fixed largely by the firm’s competitive strategy, and with profits determined largely by the firm’s operating strategy and the environment, the remaining large-decision variables are changes in debt and dividend payout. Even additions to debt are constrained, however, by the firm’s maximum leverage target, a debt/equity ratio of 0.40. This framework can be spelled out for the students to help them envision the financial context. Exhibit TN3 presents an analysis of the effect of payout on unused debt capacity based on the projection in case Exhibit 8. The top panel summarizes the firm’s investment program over the forecast period, as well as the financing provided by internal sources. The bottom panel summarizes the effect of higher payouts on the firm’s financing and unused debt capacity. The principal insight this analysis yields is that the firm’s unused debt capacity disappears rapidly, and maximum leverage is achieved as the payout increases. Going from a 20% to a 40% dividend payout (an increase in cash flow to shareholders of $95.6 million),7 the company consumes $134 million in unused debt capacity. Evidently, a multiplier relationship exists between payout and unused debt capacity—every dollar of dividends paid consumes about $1.408 of debt capacity. The multiplier exists because a dollar must be borrowed to replace each dollar of equity paid out in dividends, and each dollar of equity lost sacrifices $0.40 of debt capacity that it would have otherwise carried. Whereas the abbreviated approach to analyzing the implications of various dividend-payout levels considers total 2005 to 2011 cash flows, the detailed approach considers the pattern of the individual annual cash flows. Exhibit TN4 reveals that, although the debt/equity ratio associated with the 40% payout policy is well under the maximum of 40 in 2011, the maximum is breached in the preceding years. The graph suggests that a payout policy of 30% is about the maximum that does not breach the debt/equity maximum. Exhibits TN5 and TN6 reveal some of the financial reporting and valuation implications of alternative dividend policies. Those exhibits use a simple dividend valuation approach and assume a terminal value estimated as a multiple of earnings. The analysis is unscientific, as the case does not contain the information with which to estimate a discount rate based on the capital asset pricing model (CAPM).9 The discounted cash flow (DCF) values show that the differences in firm values are not that large and that the dividend policy choice in this case has little effect on value. This conclusion is consistent with the Miller-Modigliani dividend-irrelevance theorem. Regarding the financial-reporting effects of the policy choices, one sees that earnings per share (EPS on line 30 in Exhibits TN5 and TN6) and the implied stock price (line 31) grow more slowly at a 40% payout policy, because of the greater interest expense associated with higher leverage (see the cumulative source on line 22). Return on average equity (unused debt capacity on line 28) rises with higher leverage, however, as the equity base contracts. The instructor could use insights such as those to stimulate a discussion of the signaling consequences of the alternative policies, and whether investors even care about performance measures, such as EPS and return on equity (ROE).10 Risk assessment Neither the abbreviated nor detailed forecasts consider adverse deviations from the plan. Case Exhibit 8 assumes no cyclical downturn over the seven-year forecast period. Moreover, the model assumes that net margin doubles to 5% and then increases to 8%. The company may be able to rationalize those optimistic assumptions on the basis of its restructuring and the growth of the Artificial Workforce, but such a material discontinuity in the firm’s performance will warrant careful scrutiny. Moreover, continued growth may require new product development after 2006, which may incur significant research-and-development (R&D) expenses and reduce net margin. Students will point out that, so far, the company’s restructuring strategy is associated with losses (in 2002 and 2004) rather than gains. Although restructuring appears to have been necessary, the credibility of the forecasts depends on the assessment of management’s ability to begin harvesting potential profits. Plainly, the Artificial Workforce has the competitive advantage at the moment, but the volatility of the firm’s performance in the current period is significant: The ratio of the cost of goods sold to sales rose from 61.5% in 2003 to 65.9% in 2004. Meanwhile, the ratio of selling, general, and administrative expenses to sales is projected to fall from 30.5% in 2004 to 24.3% in 2005. Admittedly, the restructuring accounts for some of this volatility, but the case suggests several sources of volatility that are external to the company: economic recession, currency, new-competitor market entry, new product mishaps, cost overruns, and unexpected acquisition opportunities. A brief survey of risks invites students to perform a sensitivity analysis of the firm’s debt/equity ratio under a reasonable downside scenario. Students should be encouraged to exercise the associated computer spreadsheet model, making modifications as they see fit. Exhibit TN7 presents a forecast of financial results, assuming a net margin that is smaller than the preceding forecasts by 1% and sales growth at 12% rather than 15%. This exhibit also illustrates the implications of a residual dividend policy, which is to say the payment of a dividend only if the firm can afford it and if the payment will not cause the firm to violate its maximum debt ratios. The exhibit reveals that, in this adverse scenario, although a dividend payment would be made in 2005, none would be made in the two years that follow. Thereafter, the dividend payout would rise. The general insight remains that Gainesboro’s unused debt capacity is relatively fragile and easily exhausted. The stock-buyback decision The decision on whether to buy back stock should be that, if the intrinsic value of Gainesboro is greater than its current share price, the shares should be repurchased. The case does not provide the information needed to make free cash flow projections, but one can work around the problem by  making some assumptions. The DCF calculation presented in Exhibit TN8 uses net income as a proxy for operating income,11 and assumes a weighted-average cost of capital (WACC) of 10%, and a terminal value growth factor of 3.5%. The equity value per share comes out to $35.22, representing a 59% premium over the current share price. Based on that calculation, Gainesboro should repurchase its shares. Doing so, however, will not resolve Gainesboro’s dividend/financing problem. Buying back shares would further reduce the resources available for a dividend payout. Also, a stock buyback may be inconsistent with the message that Gainesboro is trying to convey, which is that it is a growth company. In a perfectly efficient market, it should not matter how investors got their money back (for example, through dividends or share repurchases), but in inefficient markets, the role of dividends and buybacks as signaling mechanisms cannot be disregarded. In Gainesboro’s case, we seem to have the case of an inefficient market; the case suggests that information asymmetries exist between company insiders and the stock market. Clientele and signaling considerations The profile of Gainesboro’s equity owners may influence the choice of dividend policy. Stephen Gaines, the board chair and scion of the founders’ families and management (who collectively own about 30% of the stock), seeks to maximize growth in the market value of the company’s stock over time. This goal invites students to analyze the impact of the dividend policy on valuation. Nevertheless, some students might point out that, as Gaines and Scarboro’s population of diverse and disinterested heirs grows, the demand for current income might rise. This naturally raises the question: Who owns the firm? The stockholder data in case Exhibit 4 show a marked drift over the past 10 years, moving away from long-term individual investors and toward short-term traders; and away from growth-oriented institutional investors and toward value investors. At least a quarter of the firm’s shares are in the hands of investors who are looking for a turnaround in the not too distant future.12 This lends urgency to the dividend and signaling question. The case indicates that the board committed itself to resuming a  dividend as early as possible —â€Å"ideally in the year 2005.† The board’s letter charges this dividend decision with some heavy signaling implications: because the board previously stated a desire to pay dividends, if it now declares no dividend, investors are bound to interpret the declaration as an indication of adversity. One is reminded of the story, â€Å"Silver Blaze,† written by Sir Arthur Conan Doyle featuring the famous protagonist Sherlock Holmes, in which Dr. Watson asks where to look for a clue: â€Å"To the curious incident of the dog in the nighttime,† says Holmes. â€Å"The dog did nothing in the nighttime,† Watson answers. â€Å"That was the curious incident,† remarked Sherlock Holmes.13 A failure to signal a recovery might have an adverse impact on share price. In this context, a dividend—almost any dividend—might indicate to investors that the firm is prospering more or less according to plan. Astute students will observe that a subtler signaling problem occurs in the case: What kind of firm does Gainesboro want to signal that it is? Case Exhibit 6 shows that CAD/CAM equipment and software companies pay low or no dividends, in contrast to electrical machinery manufacturers, who pay out one-quarter to as much as half of their earnings. One can argue that, as a result of its restructuring, Gainesboro is making a transition from the latter to the former. If so, the issue then becomes how to tell investors. The article by Asquith and Mullins14 suggests that the most credible signal about corporate prospects is cash, in the form of either dividends or capital gains. Until the Artificial Workforce product line begins to deliver significant flows of cash, the share price is not likely to respond significantly. In addition, any decline in cash flow, caused by the risks listed earlier, would worsen the anticipated gain in share price. By implication, the Asquith–Mullins work would cast doubt on corporate-image advertising. If cash dividends are what matters, then spending on advertising and a name change might be wasted. Stock prices and dividends Some of the advocates of the high-dividend payout suggest that high stock prices are associated with high payouts. Students may attempt to prove that point by abstracting from the evidence in case Exhibits 6 and 7. As we know from academic research (for example, Friend and Puckett),15 proving the relationship of stock prices to dividend payouts in a scientific way is extremely difficult. In simpler terms, the reason is because the price/earnings (P/E) ratios are probably associated with many factors that may be represented by dividend payout in a regression model. The most important of those factors is the firm’s investment strategy; Miller and Modigliani’s16 dividend-irrelevance theorem makes the point that the firm’s investments—not the dividends it pays—determine the stock prices. One can just as easily derive evidence of this assertion from case Exhibit 7. The sample of zero-payout companies has a higher average expected return on capital (24.9%) than the sample of high-payout companies (average expected return of 9.4%); one may conclude that zero-payout companies have higher returns than the high-payout companies and that investors would rather reinvest in zero-payout companies than receive a cash payout and be forced to redeploy the capital to lower-yielding investments. Decision The decision for students is whether Gainesboro should buy back stock or declare a dividend in the third quarter (although, for practical purposes, students will find themselves deciding for all of 2005). As the analysis so far suggests, the case draws students into a tug-of-war between financial considerations, which tend to reject dividends and buybacks at least in the near term, and signaling considerations, which call for the resumption of dividends at some level, however, small. Students will tend to cluster around the three proposed policies: (1) zero payout, (2) low payout (1% to 10%), and (3) a residual payout scheme calling for dividends when cash is available. The arguments in favor of zero payout are: (1) the firm is making the  transition into the CAD/CAM industry, where zero payout is the mode; (2) the company should not ignore the financial statements and act like a blue-chip firm—Gainesboro’s risks are large enough without compounding them by disgorging cash; and (3) the signaling damage already occurred when the directors suspended the dividend in 2005. The arguments in favor of a low payout are usually based on optimism about the firm’s prospects and on beliefs that Gainesboro has sufficient debt capacity, that Gainesboro is not exactly a CAD/CAM firm, and that any dividend that does not restrict growth will enhance share prices. Usually, the signaling argument is most significant for the proponents of this policy. The residual policy is a convenient alternative, although it resolves none of the thorny policy issues in the case. A residual dividend policy is bound to create significant signaling problems as the firm’s dividend waxes and wanes through each economic cycle. The question of the image advertising and corporate name change will entice the naive student as a relatively cheap solution to the signaling problem. The instructor should challenge such thinking. Signaling research suggests that effective signals are both unambiguous and costly. The advertising and name change, costly as they may be, hardly qualify as unambiguous. On the other hand, seasoned investor relations professionals believe that advertising and name changes can be effective in alerting the capital markets to major corporate changes when integrated with other signaling devices such as dividends, capital structure, and investment announcements. The whole point of such campaigns should be to gain the attention of the â€Å"lead steer† opinion leaders. Overall, inexperienced students tend to dismiss the signaling considerations in this case quite readily. On the other hand, senior executives and seasoned financial executives view signaling quite seriously. If the class votes to buy back stock or to declare no dividend in 2005, asking some of the students to dictate a letter to shareholders explaining the board’s decision may be useful. The difficult issues of credibility will emerge in class with a critique of this letter. If the class does vote to declare a dividend payout, the instructor can challenge the students to identify the operating policies they gambled on to make their decision. The underlying question: If adversity strikes, what will the class sacrifice first: debt, or dividend policies? To use Fisher Black’s term, dividend policy is â€Å"puzzling,† largely because of its interaction with other corporate policies and its signaling effect.17 Decisions about the firm’s dividend policy may be the best way to illustrate the importance of managers’ judgments in corporate finance. However the class votes, one of the teaching points is that managers are paid to make difficult, even high-stakes policy choices on the basis of incomplete information and uncertain prospects. Exhibit TN1 GAINESBORO MACHINE TOOLS CORPORATION The Dividend Decision and Financing Policy The dividend decision is necessarily part of the financing policy of the firm. The dividend payout chosen may affect the creditworthiness of the firm and hence the costs of debt and equity; if the cost of capital changes, so may the value of the firm. Unfortunately, one cannot determine whether the change in value will be positive or negative without knowing more about the optimality of the firm’s debt policy. The link between debt and dividend policies has received little attention in academic circles, largely because of its complexity, but it remains an important issue for chief financial officers and their advisors. The Gainesboro case illustrates the impact of dividend payout on creditworthiness. Dividend payout has an unusual multiplier effect on financial reserves. Table TN1 varies the total 2005–2011 sources-and-uses of funds information given in case Exhibit 8, according to different dividend-payout levels. Exhibit TN1 (continued) Table TN1 Exhibit TN1 (continued) As Table TN1 reveals, one dollar of dividends paid consumes $1.40 in unused debt capacity. At first glance, this result seems surprising—under the sources-and-uses framework, one dollar of dividend is financed with only one dollar of borrowing. The sources-and-uses reasoning, however, ignores the erosion in the equity base: A dollar paid out of equity also eliminates $0.40 of debt that the dollar could have carried. Thus, a multiplier effect exists between dividends and unused debt capacity, whenever a firm borrows to pay dividends. Choosing a dividend payout will affect the probability that the firm will breach its maximum target leverage. Figure TN1 traces the debt/equity ratios associated with Gainesboro’s dividend-payout ratios. Figure TN1. Plainly, the 40% dividend-payout ratio violates Gainesboro’s maximum debt/equity ratio of 40%. The conclusion is that, because the dividend policy affects the firm’s creditworthiness, senior managers should weigh the financial side effects of their payout decisions, along with the signaling, segmentation, and investment effects, to arrive at their final decision for the dividend policy. Exhibit TN2 GAINESBORO MACHINE TOOLS CORPORATION Setting Debt and Dividend-Payout Targets The Gainesboro Machine Tools Corporation case well illustrates the challenge of setting the two most obvious components of financial policy: target payout and debt capitalization. The policies are linked with the firm’s growth target, as shown in the self-sustainable growth model: gss = (P/S ï€ ªÃƒâ€" S/A Ãâ€" A/E)(1 − DPO) Where: gss is the self-sustainable growth rate P is net income S is sales A is assets E is equity DPO is the dividend-payout ratio This model describes the rate at which a firm can grow if it issues no new shares of common stock, which describes the behavior or circumstances of virtually all firms. The model illustrates that the financial policies of a firm are a closed system: Growth rate, dividend payout, and debt targets are interdependent. The model offers the key insight that no financial policy can be set without reference to the others. As Gainesboro shows, a high dividend payout affects the firm’s ability to achieve growth and capitalization targets and vice versa. Myopic policy—failing to manage the link among the financial targets—will result in the failure to meet financial targets. Setting Debt-Capitalization Targets Finance theory is split on whether gains are created by optimizing the mix of debt and equity of the firm. Practitioners and many academicians, however, believe that debt optima exist and devote great effort to choosing the firm’s debt-capitalization targets. Several classic competing considerations influence the choice of debt targets: 1.Exploit debt-tax shields. Modigliani and Miller’s theorem implies that in the world of taxes, debt financing creates value.1 Later, Miller theorized that when personal taxes are accounted for, the leverage choices of the firm might not create value. So far, the bulk of the empirical evidence suggests that leverage choices do affect value. 2.Reduce costs of financial distress and bankruptcy. Modigliani and Miller’s theory naively implied that firms  should lever up to 99% of capital. Virtually no firms do this. Beyond some prudent level of debt, the cost of capital becomes very high because investors recognize that the firm has a greater probability of suffering financial distress and bankruptcy. The critical question then becomes: What is â€Å"prudent†? In practice, two classic benchmarks are used: a. Industry-average debt/capital: Many firms lever to the degree practiced by peers, but this policy is not very sensible. Industry averages ignore differences in accounting policies, strategies, and earnings outlooks. Ideally, prudence is defined in firm-specific terms. In addition, capitalization ratios ignore the crucial fact that a firm goes bankrupt because it runs out of cash, not because it has a high debt/capital ratio. b. Firm-specific debt service: More firms are setting debt targets based on the forecasted ability to cover principal and interest payments with earnings before interest and taxes (EBIT). This practice requires forecasting the annual probability distribution of EBIT and setting the debt-capitalization level, so that the probability of covering debt service is consistent with management’s strategy and risk tolerance. 3.Maintain a reserve against unforeseen adversities or opportunities. Many firms keep their cash balances and lines of unused bank credit larger than may seem necessary, because managers want to be able to respond to sudden demands on the firm’s financial resources caused, for example, by a price war, a large product recall, or an opportunity to buy the toughest competitor. Academicians have no scientific advice about how large those reserves should be. 4.Maintain future access to capital. In difficult economic times, less creditworthy borrowers may be shut out from the capital markets and, thus, unable to obtain funds. In the United States, â€Å"less creditworthy† refers to the companies whose debt ratings are less than investment grade (which is to say, less than BBB2 or Baa3). Accordingly, many firms set debt targets in such a way as to at least maintain a creditworthy (or investment grade) debt rating. 5.Opportunistically exploit capital-market windows. Some firms’ debt policies vary across the capital-market cycle. Those firms issue debt when interest rates are low (and issue stock when stock prices are high); they are bargain-hunters (even though no bargains exist in an efficient market). Opportunism does not explain how firms set targets so much as why firms deviate from those targets.

Definition and Examples of Digraphs in English

Definition and Examples of Digraphs in English A digraph in the English language is a group of two successive letters ​that represents a single sound or phoneme. Common vowel digraphs include ai (rain), ay (day), ea (teach), ea (bread), ea (break), ee (free), ei (eight), ey (key), ie (piece), oa (road), oo (book), oo (room), ow (slow), and ue (true). Common consonant digraphs include ch (church), ch (school), ng (king), ph (phone), sh (shoe), th (then), th (think), and wh (wheel). Importance Diagraphs are considered nearly equal to the letters of the standard alphabet in importance to learning to read and write in English. In Linguistic Tips for Latino Learners and Teachers of English, E.Y. Odisho, writes: [F]rom the pedagogical and instructional perspective, the digraphs should be given utmost attention in the teaching of almost all language skills of English because of the proportionally large number of digraphs in relation to the 26 letters; they are approximately one-fourth of the core letters. Other experts have indicated the difficulty that learning digraphs presents to English language learners. For example, according to Roberta Heembrock in Why Kids Cant Spell, the digraph ch can be pronounced at least four different ways: k (character), sh (chute), kw (choir), and ch (chain). Complicated System Some sounds can be represented only by digraphs. In Childrens Reading and Spelling, T. Nunes and P. Bryant offer examples such as sh (shoot), ay (say), and ai (sail). Still other sounds can be represented in some words by single letters and in others by digraphs, such as fan and phantom, which begin with the same phoneme but are written as one letter in the first word and as two letters in the second. This is a complicated system and probably, to young children at least, it may seem a capricious and unpredictable one as well, Nunes and Bryant write. Spelling Confusion Spelling words that incorporate digraphs is as tricky as reading them and determining the sounds that they create. For example, the six letters of the six-phoneme word strict are represented by six digraph units: strict. On the other hand, the six letters of the three-phoneme word wreath are represented by just three digraph units: wreath, according to Brenda Rapp and Simon Fischer-Baum in Representation of Orthographic Knowledge.  Ã¢â‚¬â€¹ The Past Tense ​Spellings A particular difficulty for children is learning to spell words that deviate from what they have come to expect in their learning process. This is often the case, according to Rebecca Treiman and Brett Kessler in How Children Learn to Write Words, with the past tense. As an example, they note that the past tense of mess (messed) sounds like mest and that of call (called) sounds like cald, each of which is still one syllable, while the past tense of hunt, which adds the ed sound to make hunted, has two syllables. Children are used to the latter pattern and find the former one odd.

The Role of Native Language Phonology in the Production of L2 Contrasts by Eckman and Iverson

The Role of Native Language Phonology in the Production of L2 Contrasts by Eckman and Iverson In their article, Eckman and Iverson (2013) present the research conducted to confirm or deny particular hypotheses regarding the acquisition of the contrast between English [s] and [ÊÆ'] among native speaking Koreans and Japanese. The authors provide adequate literature research and explain the background, clearly identify the topic and hypotheses, describe the study itself and discuss its findings; although the article does have some drawbacks, it is still a well-written one.Advertising We will write a custom book review sample on â€Å"The Role of Native Language Phonology in the Production of L2 Contrasts† by Eckman and Iverson specifically for you for only $16.05 $11/page Learn More Summary of the Article The study by Eckman and Iverson (2013) focuses on the way how the contrast between [s] and [ÊÆ'] (as in English words sip versus ship, for instance) is manifested in the native languages of the participants. Although in both languages, the pho nes [s] and [ÊÆ'] are present, and both in Korean and Japanese /s/ is pronounced as [ÊÆ'] before the high front vocoids, the significant difference can be observed. While this rule is allophonic in Korean ([s] and [ÊÆ'] are distinguished as the allophones of /s/), it is neutralizing in Japanese (the contrast between these two sounds is merged). In both languages, s-palatalization can be observed but it is manifested in different ways. Considering all of this, Eckman and Iverson (2013) state that Korean and Japanese are expected to have different paths in acquiring the contrast between [s] and [ÊÆ'], as well as make different types of mistakes. In other words, the mistakes and the way, in which every participant will acquire the contrast, are predictable due to the character of the same contrast in their native languages. The authors assume that Korean participants will apply the rule of perceiving [s] and [ÊÆ'] as allophones of /s/ to English words, which, as a consequence, wil l lead to errors. Japanese, on the contrary, will apply the rules of their own language, which result in other errors. As the authors conclude, Korean participants will make so-called NL transfer errors when /s/ is pronounced as [ÊÆ'] before high front vowels while Japanese participants will make hypercorrection errors when /s/ is pronounced as [s] even when it should be pronounced as [ÊÆ']. On the basis of these statements, hypotheses are created. To test those, the authors have chosen 49 learners of English, 23 of whom are Japanese and 26 of whom are Koreans. To gather data, the stimuli of 90 words and a program created in MATLAB have been used. The last one was needed to communicate with the participants: show a set of pictures and give commands, such as Wait or Speak, for example. The data was recorded at the University of Wisconsin-Milwaukee, and after that it was transmitted to the Ohio State University where the assistants who received it knew nothing about the hypotheses. In the end, the hypotheses turned out to be correct.Advertising Looking for book review on linguistics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Critique of the Article To start with, Eckman and Iverson (2013) clearly initiate the topic, tell why the study is important and prove that the same issue has not been addressed yet. Besides, the article has a precise structure and is organized conveniently. It is easy to navigate, even though the article is quite long. The introduction is not lengthy and contains all important ideas of the study, which are discussed briefly and laconically. The background part is rather important: it provides both good literature research showing what has already been done on this topic and explains particular characteristics of Korean and Japanese languages, which are needed for the study. It should be noticed that only relevant characteristics are provided, without any redundant information. The s tudy is described clearly and in details. No questions have arisen regarding the way in which the study was carried out or how the participants were chosen. Additionally, the level of language of the respondents is indicated. As for the research itself, it was conducted wisely. The authors’ aim was indeed to test hypotheses, not just confirm them. All data gathered during the study was transmitted to assistants who knew nothing about the hypotheses created by the authors. Hence, the final conclusion was drawn based on bare facts, without any bias. However, the study also has several drawbacks. First of all, specialized terminology usually is not identified, which is why an individual without more or less deep knowledge in the topic will need to conduct additional research to define unknown words and concepts. Secondly, while the research itself is described in details, the methodology is not clearly determined. The article does not tell about the research method or research d esign, for example. Finally, no limitations or constraints of the study are identified, as well as no directions for the further research are suggested. For example, knowing how the contrast between [s] and [ÊÆ'] is acquired among native speaking Koreans and Japanese, the authors could have suggested what other aspects of the same languages should be investigated or what other languages should be taken into account. Still, all of the drawbacks mentioned above are insignificant and do not deny the importance of the study conducted by Eckman and Iverson (2013). The article can serve as a strong base for further research and has already been cited in several related works.Advertising We will write a custom book review sample on â€Å"The Role of Native Language Phonology in the Production of L2 Contrasts† by Eckman and Iverson specifically for you for only $16.05 $11/page Learn More References Eckman, F., Iverson, G. K. (2013). The Role of Native Lang uage Phonology in the Production of L2 Contrasts. Studies in Second Language Acquisition, 35(1), 67-92.

The Difference Between a Weak and Strong Verb

The Difference Between a Weak and Strong Verb The distinction between a weak verb and a strong verb is based on how the past tense of the verb is formed. Weak verbs (more commonly called regular verbs) form the past tense by adding -ed, -d, or -t to the base form- or present tense- of the verb, such as call, called and walk, walked. Strong verbs (usually called irregular verbs) form the past tense or the past participle (or both) in various ways but most often by changing the vowel of the present tense form, such as to give, gave and stick, stuck. Strong vs. Weak In Garners Modern American Usage, author Bryan Garner explains the difference between a week and strong verbs: Irregular verbs are sometimes called strong verbs because they seem to form the past tense from their own resources, without calling a The term strong has been inherited from Old English grammar, and many of todays irregular forms are descendants of common Old English verbs. Although fewer than 200 modern English verbs are strong, these irregulars- most of which are just one syllable in length- are among the most common in the language. Examples of Weak Verbs With week verbs, the stem vowel does not change in the past or past participle tense. Take the word walk, for example. The past and past participle of this verb would be walked because the stem vowel does not change. Another example would be work, where the verb becomes worked in the past and past participle. Other examples of the week, or regular, verbs would be as follows, where the verb is listed on the left with the past/past participle on the right: Add addedBeg beggedCall calledDamage damagedEarn earnedMark markedTaste tastedYell yelled The past tense or past participle of these verbs looks roughly the same as the present tense because, as noted, the stem vowel does not change. Strong Verbs Examples By contrast, strong verbs generally do have a change in the stem vowel in the past or past participle. For example, the past tense and past participle of bringing is brought. At other times, the stem vowel in a strong verb might change in the past tense but not in the past participle, such as arise, which becomes arose in the past tense but arisen in the past participle (as in he has arisen.) Other examples of strong verbs would be: Blow blew (past tense), blown (past participle)Break broke (past tense), broken (past participle)Do did (past tense), done (past participle)Feed fed (past tense and past particle)Lie (down) lay (past tense), lain (past participle)Speak spoke (past tense), spoken (past participle) As you can see, there is no hard-and-fast rule for determining if a verb is a week or strong. Since there are fewer than 200 strong verbs in English, the best method is to memorize their use in the past and past participle.

Economic Essay Example | Topics and Well Written Essays - 1000 words - 6

Economic - Essay Example The following table and chart can help us get an idea: â€Å"The main engine of growth is the accumulation of human capital† and â€Å"the main source of differences in living standards among nations is the difference in human capital. Physical capital plays an essential but decidedly subsidiary role† (Bardhan and Udry, 2008, p.266). Human capital has several aspects, including education, training and health. Human capital is considered to be a key determination of economic growth. Investment in human capital benefits individuals and society as a whole. Countries with skilled people grew faster. While develop economics have always emphasized the importance of education in the develop process. Better education generates private gains to the individual and public benefits to society. By the expansion of knowledge it can enable the people to overcome ignorance and superstitions. Without literacy or, to be more precise, perfect education, economic growth in any country is impossible. It can become only lopsided and flawed unless corrective reassures are taken. Jobless growth implies situation where the overall economic growth but does not expand sufficient employment opportunities. ‘Futureless growth’ implies a situation where growth occurs but its effect is not positive on future generation and is adverse. According to Mahatma Gandhi, â€Å"education, which does not teach us to discriminate between good or bad, to assimilate the one and eschew the other, is a misnomer† (Rao, 1991, p.2). The purpose of literacy and education is not only to make our children literate and merely develop individual skills but also to make them appropriate human being with positive and integrated elements of their respective societies. Education means drawing out the best of the body, mind and spirit in man. He believed learning by doing and was of the opinion that the knowledge through education, subjects

Operation management Dissertation Example | Topics and Well Written Essays - 2250 words

Operation management - Dissertation Example In order to achieve sustainable competitive advantage, the organization will have to set benchmark by comparing its operational management strategies with those of industry’s best it was found that management skills and competencies are as important as the technical competencies. It was also found that in order to successfully complete a project, management as well as leadership skills of a project manager is an essential trait. Contents Contents 3 Introduction 4 OrganizationBackground: 4 The Assignment Objective 4 Approach and Methodology 4 Literature Review 5 Application to the organization 8 Analysis and Conclusion 9 Recommendation 9 Potential costs and benefits 9 Timescales and Resources 10 Risks or potential barriers to implementation 11 Appendix 14 Introduction OrganizationBackground: Occidental Petroleum Corporation is an oil and gas exploration and production company. It is an international company and it has two oil fields within Oman in both south and north areas. Ox y mukhaizna filed recorded high progress interm of production. In 2012 the gross daily oil production was 120,000 barrels per day which is 15 times higher than the production in 2005. There are some competitors companies in the same sector working in Oman such as Daleel petrolum, Petrogas, Oman Oil Company Exploration & Production and CCED. However, the Petroleum Development Oman (PDO) is the major competitor to OxyOman. The Assignment Objective The objective if the assignment is to evaluate an operational management theory of Oxy Corporation and application of the theory to provide solutions for the specific issue. The report will help in evaluating the current trends and issues pertaining to operations management and what are the reliable strategies through which operational enhancement can be achieved. Approach and Methodology Aqualitative as well asd quantitative approach has been used for the completion of the project. The report is an extensive application based review of the operational theory encompassing topics such as project management, quality management, skills and competency management and their various uses pertaining to oil and gas sector. The various sources used for getting information will include primary observations as well as secondary data from the company at study and extensive literature review of journals and articles. Some fundamental information about the organisation is as followed; Founded in the year 1920 (Oxy Corporation, 2013a). International gas and oil production and gas exploration organisation. Operates in United States, Latin America and Middle East Region (Oxy Corporation, 2013b). Headquarters in Wilshire, Los Angeles. Literature Review Operational management is one of the critical aspects influencing the successful competitiveness of any service or manufacturing organisation. Multiple queries and organisational issues such as product choice, manufacturing technology, capacity utilization, quality maintenance and material sourcing and costing and customer management are associated with operational management theories. Operational management can be defined as â€Å"a management systems in which several activities are performed to transform a set of inputs into a useful output using a transformation process† (Turner, 1999). Operational management of an organisation covers various aspects. Few of the important aspects include inventory management, supply chain and logistics management, facilities and

Who represents us Research Paper Example | Topics and Well Written Essays - 1750 words

Who represents us - Research Paper Example This would end any need for private insurance to cater for medical expenses. The national system would be funded by the taxpayer, meaning that Americans will collectively ensure a functional medical system to all citizens alike. The healthcare system will not be expensive as it may be seen from the outset. As it is, the system will eliminate the private insurance companies that currently offer medical insurance, which means the companies’ administrative overheads and the overall cost of healthcare will reduce significantly. This will enable that everyone in the United States will have access to any medical services he or she needs with much ease. This is good news to everyone alike since there will be no more constraints as they are now experienced especially by the poor who are unable to access quality medical care whenever they need it. I believe the right to access medical care is fundamental and no one should be denied. It is in line with the inalienable rights to life, liberty and the pursuit of happiness that should be enjoyed by all within the American territory. My elected official in the House of Representatives at the federal level supports the bill. He has been a champion for health care reform in the house for quite some time now. He is a member of the house committee on health and has, therefore, dealt with many matters that concern health care in the United States. Even though he supports the bill, he is of the opinion that it should be modified further to remove some of the clauses and include others. Even then, he agrees that the bill will reform the healthcare system in the United States, since the proposed system of health care in the bill is better than the current system. Talking about the current system, the representative views the current system as overly inefficient and burdensome to persons with low income who cannot afford the medical insurance. The representative prefers the bill over the other

Policy argument Essay Example | Topics and Well Written Essays - 1250 words

Policy argument - Essay Example Accordingly, this paper would be divided into several categories wherein reasons for the cessation of troop deployment to the Iraqi and Afghan warzones would be in the best interest of all the stakeholders, including alternative policies currently undertaken and feasible proposals by respective governments. First and foremost however, a factual backdrop would be necessary regarding troop deployment in Afghanistan and Iraq. In February and March 2009, respectively, the Obama Administration declared its strategy to amplify troop deployment levels in Afghanistan, while providing for the decrease of troop deployment levels in Iraq. In Afghanistan, 30,000 more troops are deploying this year while in Iraq; troops will gradually decline to 35,000 to 50,000 by August 31, 2011 with all troops to be out of Iraq by December 31, 20111 (Belasco, 2009). The possibility of increase in troop deployment in the aforementioned warzones has been met with reluctance, and even expresses political disappro val by several of the stakeholders. Conversely, the counter-proposal of withdrawal is constantly gaining support, from the US and the invaded countries themselves. In the case of the United States of America, public support for the war has constantly waned. Both public opinion and government policy require the means to cease or at least lessen further war expenditure and troop deployment. Recent events relative to the conduct of the war continually depreciate popular support at home for the United States. US military causalities in Operation Iraqi Freedom, Operation New Dawn, and Operation Enduring Freedom total to 6049 soldiers killed in action, further fanning public outrage against the conflicts, apart from hundreds of thousands of civilian casualties in Afghanistan and Iraq2 Accordingly, the economy of the US is also one of the major concerns. The  financial cost of the war  for the US has reached almost $845 billion  to the U.S., while the entire cost to the U.S. economy is projected to amount to  $3 trillion, a majority of which to be shouldered by American taxpayers.3 The conflict has also disrupted Iraqi  oil  production, which has spawned energy security concerns such as significant increases in the price of oil, thus disrupting the world economy. 4 The conflicts also have had adverse effects for international political relations. These include the circumstances of the legality and morality of the invasion, including the refusal of the US to comply with UN Security Resolutions and international law. Public opinion of several countries and diplomatic relations with Middle Eastern countries and their allies has also been severely affected. The US has been portrayed as imperialists and hegemons, effecting to massive protests not only in the Middle East, but also in Europe and even the US itself, drawing comparisons of the war to the Vietnam War 5. With regard to Afghanistan, political analysts have asserted that the democratization and develo pment of the country has been obscured by a â€Å"lack of agreement on objectives, a lack of resources, lack of coordination, too much focus on the central government at the expense of local and provincial governments, and too much focus on

Awards for Excellence Essay Example | Topics and Well Written Essays - 500 words

Awards for Excellence - Essay Example This was just a sign of things to come. Expect more from us in the future because new talent gets discovered on a regular basis in our department. Coming to the teaching awards, Mr. Angel Garralda and Ms. Ming Cheung are both accomplished educators with a similar 'learning is a continuous, two-way process', view. They have a refreshingly new approach to teaching, 'a pro-active role for the student in the learning process.' The awards will only add responsibility and enhance their already popular teaching methods. These are given ONLY to people who have made outstanding contributions in their respective teaching disciplines over a period of time. The awards are a proof of the teaching efficiency levels at the EN department. As more and more students from all over the world, show keen interest, to be a part of our culture, we'd expect the students to be ready for an environment that provides both fun and serious learning simultaneously. The range of courses offered by the department ca ters to all the needs across all walks of life. This is the most exciting part of this unique community.

How is genocide defined Essay Example | Topics and Well Written Essays - 1750 words

How is genocide defined - Essay Example They are a phenomenon of the plural society, with its marked divisions between racial, ethnic, and/or religious groups. Plural society theory deals with the relations between these groups, and the conditions promoting peaceful cohabitation, integration, or violent polarization leading to genocide. It has no application to the genocides of international war, committed in armed conflict between separate states. The Convention definition of genocide is summarized as the intent to destroy in whole or â€Å"in part a racial, ethnic, religious, or national group as such, by killing members of the group or imposing conditions inimical to survival† (Show and Schott 2005, 34). The inclusion of mental harm among the acts constituting genocide seems incongruous, but it must be read in the overall context of the intent to destroy the victim group. Under Article I of the UN Convention, the contracting â€Å"parties confirm that genocide, whether committed in time of peace or in time of wa r, is a crime under international law† (Show and Schott 2005, 17). The Convention was adopted in 1948 by the UN General Assembly. The notion â€Å"genocide† was developed by R. Lamkin in 1943. He joined two words â€Å"genos† which means family or tribe and â€Å"occidere† which means massacre and killing. Also, Lamkin developed a draft for the Genocide Convention. The main strength of this Convention is that 137 countries recognize mass killing as a crime against humanity and were obliged to prevent genocide on their territories. The main strength of the Convention is that it recognizes genocide and interprets it as â€Å"the crime against humanity†.

Awards for Excellence Essay Example | Topics and Well Written Essays - 500 words

Awards for Excellence - Essay Example This was just a sign of things to come. Expect more from us in the future because new talent gets discovered on a regular basis in our department. Coming to the teaching awards, Mr. Angel Garralda and Ms. Ming Cheung are both accomplished educators with a similar 'learning is a continuous, two-way process', view. They have a refreshingly new approach to teaching, 'a pro-active role for the student in the learning process.' The awards will only add responsibility and enhance their already popular teaching methods. These are given ONLY to people who have made outstanding contributions in their respective teaching disciplines over a period of time. The awards are a proof of the teaching efficiency levels at the EN department. As more and more students from all over the world, show keen interest, to be a part of our culture, we'd expect the students to be ready for an environment that provides both fun and serious learning simultaneously. The range of courses offered by the department ca ters to all the needs across all walks of life. This is the most exciting part of this unique community.

Collapse of the Soviet Union Term Paper Example | Topics and Well Written Essays - 2500 words

Collapse of the Soviet Union - Term Paper Example he US of masterminding the fall of this great republic as it was only the fall of the Soviet Union that would have made the US the sole superpower in the world. The Soviet Union utterly rejected the cultures and values of the west as they were in full control of their lives and it was not until the collapse of the republic that the individual countries that constituted the old republic begin to accept some norms and values of the west. The Soviet Union also were also advanced in the art of warfare and they were technologically advanced during that period and it was only very few countries that could match up with its strength. The collapse of the Soviet was unarguably one of the most controversial events of the twentieth century and the collapse of the Soviet bloc still has far-reaching consequences in the world today and the impacts would continue to be felt in the years that follow. Countries of the former Soviet Union have been really affected by the collapse of the bloc, while some countries like Russia and Estonia have come out of the Soviet Union strong, some like Armenia and Azerbaijan have grown weaker. The effect of the collapse on the countries of the Soviet Union shall be highlighted in this paper and it would help us to know the countries that were greatly affected by the collapse and the ones that the collapse had little or no effect on. Though, the Soviet Union collapsed in 1991, there had been cracks in the walls that held the republic together (Remnick 19). The collapse of the Soviet Union with its fortified walls shows that there is no great country, civilization or republic that cannot crumble and its fall is a lesson to other powers of the world, especially the superpower US. The Soviet Union looked so strong after the Second World War to the ninth decade of that century. The strength of the Soviet Union was made possible by the strong communist and totalitarian regime in the region at that time. The collapse of the Soviet Union happened

Decoding the Jargon Essay Example for Free

Decoding the Jargon Essay Create a booklet which explain the function of hardware components and identify communication between components. The pages should include photographs and diagrams to illustrate the information you include. (P1) Components communication The following diagram shows how components communicate each other’s. CPU Also known as the processor, the CPU is the heart of the computer and has two part: Control Unit The control unit controls the flow of data through the processor. Arithmetic/Logic unit (ALU) The ALU performs mathematical, logical, and decision operations in a computer and is the final processing performed by the processor. RAM A computer can only run a program when it is in memory named RAM (Random Access Memory). List of RAM such as: Double data rate synchronous dynamic random access memory (DDR SDRAM), Static Random access memory (SRAM) and Dynamic random access memory (DRAM). Hard drive A HHD is a data storage device that provides storage and retrieving digital information. Serial Storage Architecture (SSA) is a serial transport protocol used to attach disk drives to server computers. A solid-state drive (SSD) it contains no actual disk, it is a data storage device using integrated circuit assemblies as memory to store data. It is more quiet when it runs, more resistant to physical shock, has a lower access time and less latency. Motherboard The motherboard is the main circuit board inside a computer. A number of major hardware components are plugged into it, including the CPU, hard  drive, the BIOS memory and RAM. The most commonly found and used motherboard is ATX motherboard. It is the standard motherboard which suit to any desktop computer. Fan A computer fan is any fan inside, or attached to, a computer case used for active cooling, and may refer to fans that draw cooler air into the case from the outside, expel warm air from inside, or move air across a heat sink to cool a particular component. CPU fan: Use to cool the CPU heat sink. Graphic card Fan: The specific fan to cool down the temperature of graphic card. PSU fan: The power supply unit fan play two rules that cool down the itself and removing the warm air from the case. PSU A power supply unit converts mains AC to low-voltage regulated DC power for internal components of computer. DVD DVD is digital optical disc that can store a large amount of digital data such as text, music, image or video. b. Add a new section to the booklet to explain the purpose of TWO different Operating Systems and compare the features functions of these operating systems. (P2, M1) Window 8 is the latest vision of the Windows operating system, which was developed by Microsoft. It acts as an interface between the hardware and the user. Purpose of Windows 8 The operating system was made for personal, home or business user in the desktop, laptop, tablet and smartphone market. It makes computer easy for users to control. 1. Graphical User interface The windows operating system designed originally to replace MS-DOS, which make the computer interface more user-friendly and allows you to use your mouse to operate. Windows 8 come with a new and unique kind of use interface (UI) called Metro. 2. Accessibility. Windows 8 increase the accessibility which includes features to enable disable people to use the computer more easily, such as: Optimize visual display to allow people to see more cleanly on screen, turn on audio description for people who are blind, adjust the setting of mouse for people are using different hand. 3. Multitasking Windows 8 provided people with the ability to do multitask more easily and steady. The Graphical User Interface makes easier to navigate from different tasks. 4. A Standard Part of windows’ purpose is to create a standard for third-part software developers. All windows programs will feature in a standard format, such as the position of menu options, the way programme opened and closed down. Purpose of DOS DOS known as Disk operating system that allow people to manage the storage devices such as hard disk, solid disk, flash disk or floppy disk. DOS is the basic system that people have to using Command line prompt to communicate with computer via simple interface which is not â€Å"friendly† user interface. The DOS can’t run multitask on computer which can only load one program until it finished. But some of the features still quite useful that people still use it. Such as: 5. CHKDSK 6. GBUPDATE 7. IPCONFIG 8. PING 9. FDISK Comparison of two operating systems We can see there are many different between those two computer operating system which the Windows 8 operating system have a lots of advance features and higher performance that suit to nowadays. The DOS system usually used to be run a specific program which prevents any virus or hacker attack in the solo computer such as sale program, data base in the hospital or council data base. c. In your document explain the purpose of different software utilities which is available. Explain how software utilities can improve the performance of computer systems (P3, D1) Windows 8 Utility Virus Protection The specific program used to prevent viruses, worms and Trojans which attached in the email or website. Every computer need to install an anti-virus software and have upgrade its regular that make sure the computer more securer. Firewall The Firewall is the software that build up to prevent attack from hacker which build a protective barrier in your computer when your computer connect to the network. It controlled which software’s data can thought the network and monitored the data thought the computer. Clean-up Tools The system utility that clean up system’s rubbish to make computer running more steady and smoothly. The list of clean-up content such as: Removal of cookies Internet history Defragmentation Drive formatting Drive formatting that means to delete everything on the drive or partition to install operating system or classify your partition. You can do it from Disk management or using Formatting Command in Command prompt just like type command in the DOS OS. Utility of DOS CHKDSK Checks a disk and repair your data that might lose or corrupt from take off your disk incorrectly or your computer lost electricity when it was running. The CHKDSK help computer more secure and repair the corruption when it detects. Ping is a computer network utility that to test how quickly the host to connect to the server. This utility could help user easier to check the connectivity with network. FDISK is utility software which using on DOS to partitioning disk and manage the partition. The FDISK that formatting your disk completely that not be able to recovery and it the common tool that used in 1990s during now. Scandisk is the command to run disk-repair on the current drive. DEFRAG is Command to reorganizes files on disks to optimize performance. DEBUG is command to run Debug, a program testing and editing tool.

Probleemanalyse van essentieel belang

Probleemanalyse van essentieel belang Probleemanalyse Inleiding Bij het opstarten van een project is een probleemanalyse van essentieel belang. Na het bestuderen van het probleem en de vragen van de opdrachtgever, wordt een helder en duidelijk managementprobleem geformuleerd. Naast de opdracht formuleer je wat je gaat onderzoeken, op welke manier je dat gaat doen en waarom. De onderdelen die in de probleemanalyse aan bod komen zijn het managementprobleem, het onderzoeksprobleem, componenten, de onderzoeksdoelstelling gevolgd door de onderliggende onderzoeksvragen en op het einde het theoretisch kader, waar alle begrippen en theorieà «n in vermeld worden. De probleemanalyse wordt aangeboden aan de opdrachtgever, die de analyse goed- of afkeurt. Bij goedkeuring aanvaardt de opdrachtgever dat het projectteam de opdracht gaat uitvoeren. Managementprobleem De NHTV international hogeschool Breda is een allround kennisinstituut op het gebied van recreatie en toerisme. De NHTV leidt niet alleen (inter)nationale studenten op, maar organiseert ook congressen en neemt deel aan workshops en seminars over de hele wereld. De missie van de hogeschool luidt als volgt: NHTV wil een bijdrage leveren aan de maatschappij door in nauwe samenwerking met de internationale werkvelden (jonge) mensen op te leiden tot verantwoordelijke professionals voor een globaliserende werk- en kennisomgeving. De instelling wil medewerkers en studenten inspireren en uitdagen hun talenten optimaal te ontwikkelen, hun kennis en kunde te integreren en deze als professional of als wetenschapper op excellente en duurzame wijze toe te passen in de samenleving. (NHTV, 2010) Daarnaast is de hogeschool nauw betrokken bij het internationale toerisme en recreatieve bedrijfsleven, vooral als het gaat over innovatieve en duurzame ontwikkelingen. De hogeschool is een door de World Tourism Organization gecertificeerde opleiding die serieus meedenkt over etnische vraagstukken in het internationale toerisme. Daarnaast is de NHTV nauw betrokken bij de Initiatiefgroep Duurzaam Uitgaan Toerisme (IDUT). De opleiding Management Toerisme denkt erover om, in navolging van IDUT, een nieuw platform op te richten, namelijk het Internationaal Innovatieplatform Toeristisch Vervoer. De NHTV, de wereld, de toerist en de recreant hebben namelijk à ©Ãƒ ©n ding gemeen: ze zijn altijd in beweging. Het probleem is echter dat er een heldere visie op toeristisch en recreatief vervoer ontbreekt. Niet eerder is nagedacht over of onderzoek gedaan naar aspecten als ethiek, duurzaamheid, snelheid, prijs enzovoorts. Met het oog op de ontwikkelingen naar een beleveniseconomie en zelfs een transformationele economie, wil het Internationaal Innovatieplatform Toeristisch Vervoer een visie laten ontwikkelen op toeristisch-recreatief vervoer die de basis vormt voor een betekenisvol belevingsconcept. Er wordt als het ware een creatieve en overtuigende vertaalslag gemaakt van de droom (visie) naar de daad (concept). Het concept dient vervolgens globaal getoetst te worden op ethische en duurzaamheidaspecten. Tot op heden is er ook geen onderzoek gedaan naar nieuwe volggroepen die aansluiten bij de producten en het concept. Het is de bedoeling dat à ©Ãƒ ©n of meer volggroepen zich aantoonbaar aangesproken gaan voelen door de beleving die deze producten oplevert. De karakteristiek van deze volgroepen dient op basis van de waardegeorià «nteerde lifestyle-segmentatiemodellen gegeven te worden. Daarnaast dient het belevingsconcept aantoonbaar geschikt te zijn voor de ontwikkeling van een aantal verschillende en onderscheidende belevingsproducten. Daarbij dient à ©Ãƒ ©n belevingsproduct op hoofdlijnen uitgewerkt te worden. Uiteindelijk zal aangegeven worden hoe de betrokkenheid en/of binding tussen volggroep en belevingsproduct door interactieve communicatie kan worden bevorderd. Daarbij gaat het om het regisseren van de communicatie. (Handleiding CPO2, 2010) Onderzoeksprobleem Zoals in het managementprobleem beschreven staat, ontbreekt een heldere visie op toeristisch en recreatief vervoer. De NHTV geeft de student Management Toerisme om die reden de opdracht om op basis van een persoonlijke visie op toeristisch recreatief vervoer een sterk belevingsconcept voor een specifieke vorm van toeristisch-recreatief vervoer te ontwikkelen, waaraan verschillende onderscheidende belevingsproducten gekoppeld kunnen worden en waardoor met naam te benoemen volggroepen zich aangesproken en verbonden voelen. Met de introductie van het belevingsconcept voor vakantievervoer dient de eerste publicatie van het Internationaal Innovatieplatform Toeristisch Vervoer gevoed te worden. De compacte vraag die ik mijzelf bij dit project heb gesteld luidt als volgt: Hoe kan ik vanuit een persoonlijke visie komen tot een belevingsconcept? Om antwoord te geven op de bovenstaande onderzoeksvraag dient er informatie te worden verzameld over de diverse aspecten die bij dit project van belang zullen zijn. Zo zal de aanbodkant van het toeristisch-recreatief vervoer in kaart moeten worden gebracht en dient er onderzoek gedaan te worden naar de trends en ontwikkelingen van toeristisch-recreatief vervoer. Daarbij zal er gekeken worden naar de situatie op micro- en meso-niveau. Aan de hand van de micro-analyse dient er in kaart te worden gebracht wat de kernwaarden en motieven zijn, welke in verbinding staan met het toeristisch-recreatief vervoer. Een duidelijk beeld van de bovenstaande aspecten maakt het mogelijk een persoonlijk visie te formuleren waarna je kunt komen tot een belevingsconcept. Componenten Om antwoord te geven op de onderzoeksvragen zijn een aantal deelstudies noodzakelijk om te voorzien in de gedefinieerde informatie- en adviesbehoefte. In de opstartfase diende iedere student een keuze te maken tussen vervoer via land, water of lucht. De keuze is uiteindelijk gevallen op de vervoerssector transport over water. De reden hiervoor is dat het transport over water, in tegenstelling tot andere toeristisch-recreatieve vervoersmogelijkheden een stijgende lijn kent in het aantal passagiers. Daarnaast ontdoet het transport via water zich van zijn stoffige imago en hebben cruisemaatschappijen hun focus gelegd op de bouw van innovatieve schepen en het aanspreken van nieuwe doelgroepen. Het ABCDEF-model loopt als de rode draad door het conceptontwikkelingsproces heen. Deze methodiek is een uitbereiding van het conceptontwikkelingsproces en bevat de onderdelen: aandacht en analyse, broeden en beleven, creà «ren van een concept, design van belevenissen, experience platform en follow up. De ABCDEF-methodiek is kwalitatief van aard en gaat om het blootleggen van het hart of de ziel en deze in conceptvorm te vangen. Allereerst zal worden ingegaan op een nadere uitwerking van de aanbodkant. Er dient onderzocht te worden welke mogelijkheden reisorganisaties bieden, welke trends en ontwikkelingen er van toepassing zijn en waar de vervoerssector zich in onderscheid. Informatie hierover is te vinden op internet, in de databases van Tourpress en de Reisrevue. Daarnaast worden websites van touroperators en transportbedrijven geraadpleegt. Vervolgens zal worden ingegaan op vraag- en (deels) aanbodkant van toeristisch-recreatief vervoer over het water. Deze onderdelen bevat deelvragen die het doel hebben de situatie op macro-, meso- en micro-niveau te beschrijven. De macro-omgeving zal beschreven worden aan de hand van het DSTEPJ-model en de meso-omgeving zal beschreven worden aan de hand van het ABCD-model. De micro-analyse maakt onderdeel uit van de vraagkant, waarbij gekeken wordt naar de kernwaarden en motivaties van reizigers. Bij de micro-analyse zal gebruik worden gemaakt van het Mentality-model van Motivaction, die onderscheid maakt in verschillende sociale milieus. Daarnaast zal bij het onderzoeken van consumententrends publicaties en databases van Tourpress, Reisrevue, NBTC, TNS NIPO en de ANVR geraadpleegd worden. Theorieà «n en begrippen betreffende visie, duurzaamheid en ethiek, concept- en productontwikkeling etc. zijn te vinden in de literatuur van Nijs en Peters Imagineering, Rijkenberg Concepting en Boers en Beunders De andere kant van de vrije tijd. Onderzoeksdoelstelling Inzicht verkrijgen in de aanbodkant, trends en ontwikkelingen en kernwaarden en motivaties van het toeristisch-recreatief vervoer teneinde een visie te ontwikkelen op toeristisch-recreatief vervoer die de basis vormt voor een betekenisvol belevingsconcept. Inzicht verkrijgen in de aanbodkant, trends en ontwikkelingen en kernwaarden en motivaties van het toeristisch-recreatief vervoer teneinde een sterk belevingsconcept voor een specifieke vorm van toeristisch-recreatief vervoer te ontwikkelen, waaraan verschillende onderscheidende belevingsproducten gekoppeld kunnen worden en waardoor met naam te benoemen volggroepen zich aangesproken en verbonden voelen. Onderzoeksvragen Hoe ziet het aanbodkant eruit van toeristisch-recreatief vervoer over het water? Hoe ziet de situatie eruit op macro-niveau? Hoe ziet de situatie eruit op meso-niveau? Hoe ziet de situatie eruit op micro-niveau? Theoretisch kader Het ABCDEF-model loopt als de rode draad door het conceptontwikkelingsproces heen. Deze methodiek is een uitbereiding van het conceptontwikkelingsproces en bevat de volgende onderdelen Analyse en Aandacht. Analyse van vraag als aanbodkant. Inleven in de ziel, de aard, het unieke DNA van het aanbod aan toeristisch recreatief vervoer. Broeden en Beleven. Ontwikkelen van een subjectieve en onderscheidende visie op toeristisch recreatief vervoer en de daarin gekozen sector. Creà «ren van een Concept. Het vertalen van een visie in een concept. Design van belevenissen. Ontwerpen van belevingsproducten, diensten of belevenissen. Experience platform. Emotionele betrokkenheid, loyaliteit creà «ren. Follow up. Het werken met belevingsconcepten en -producten leidt tot innovaties binnen het bedrijf. (Projecthandleiding CPO2, 2010) Bij het maken van een situatieanalyse kan een onderscheid gemaakt worden in een externe (ook wel omgevingsanalyse genoemd) en een interne situatieanalyse. De externe analyse bestaat uit variabelen die van invloed zijn op de activiteiten van de organisatie, maar waarop door de organisatie zelf geen (of weinig) invloed kan worden uitgeoefend. In de literatuur wordt hierbij een verder onderscheid gemaakt in macro-omgeving en meso-omgeving. De macro-omgevingsanalyse, ook wel eens trendanalyse genoemd, wordt gebruikt om de huidige en toekomstige trends en/of gebeurtenissen te lokaliseren, die potentià «le mogelijkheden of bedreigingen vormen voor de organisatie. Bij de eerste onderzoeksvraag zal gebruik worden gemaakt van het DSTEPJ-model, waaronder de demografische factoren, sociaal culturele omgevingsvariabelen, technologische omgevingsvariabelen, economische omgevingsvariabelen, politieke omgevingsvariabelen en juridische variabelen vallen. Demografische factoren: kenmerken die te maken hebben met de Nederlandse bevolking. Economische factoren: kenmerken die te maken hebben met de economie van Nederland. Sociaal-culturele factoren: kenmerken van cultuur en leefgewoonten van Nederland. Technologische factoren: kenmerken van de ontwikkeling op technologisch gebied. Ecologische factoren: kenmerken die te maken hebben met de fysieke omgeving en milieu. Politiek: kenmerken van overheidsbeslissingen. Juridische factoren: kenmerken van overheidsbeslissingen (Intemarketing.nl, 2010) Factoren uit de meso-omgeving hebben te maken met factoren binnen de branche, die van invloed zijn op het functioneren van de organisatie. Hierbij gaat het vooral om marktvormen, marktstructuur en marktorganisatie vanuit de vraagzijde en vanuit de aanbodzijde. En ook de concurrentie- en concurrentieanalyse is hier van belang. De vraag naar vakanties in het algemeen, de binnenlandse vakantie in het bijzonder en specifiek naar kamperen, zijn ontwikkelingen binnen de branche van verblijfsrecreatie, die voor een camping van belang zijn. De meso-analyse zal worden beschreven aan de hand van het ABCD-model, waaronder de afnemers-, bedrijfstak-, concurrentie- en distributieanalyse behoren. Bij de micro-analyse wordt de kernwaarden, motivaties en trends van de consument onderzocht. Dit zal gedaan worden aan het hand van hand van de verschillende Mentality-milieus van Motivaction, waarbij onderscheid wordt gemaakt in socio-demografische gegevens en de normen en waarden van de verschillende milieus. De gemaksgeorià «nteerden: de impulsieve en passieve consument die in de eerste plaats streeft naar een onbezorgd, plezierig en comfortabel leven. De opwaarts mobielen: de carrià ¨regerichte individualisten met een uitgesproken fascinatie voor sociale status, nieuwe technologie, risico en spanning. De nieuwe conservatieven: de liberaalconservatieve maatschappelijke bovenlaag die alle ruimte wil geven aan technologische ontwikkeling, maar zich verzet tegen sociale en culturele vernieuwingen. De kosmopolieten: de open en kritische wereldburgers die postmoderne waarden als ontplooien en beleven integreren met moderne waarden als maatschappelijk succes, materialisme en genieten. De postmaterialisten: de maatschappelijke idealisten die zichzelf willen ontplooien, stelling nemen tegen sociaal onrecht en opkomen voor het milieu. De postmoderne hedonisten: de pioniers van de beleveniscultuur, waarin experiment en het breken met morele en sociale conventies doelen op zichzelf zijn geworden. De traditionele burgerij: de moralistische, plichtsgetrouwe en op de status-quo gerichte burgerij die vasthoudt aan tradities en materià «le bezittingen. De moderne burgerij: de conformistische, statusgevoelige burgerij die het evenwicht zoekt tussen traditie en moderne waarden als consumeren en genieten. (Motivaction.nl, 2010) Werkwijze Aanbodkant van toeristisch-recreatief vervoer Inleiding In dit hoofdstuk zullen we het gaan hebben over de verschillende mogelijkheden binnen toeristisch-recreatief vervoer in het algemeen à ©n gespecialiseerd op de sector vervoer over water. Er zijn drie doelen van het gebruik van transport die toegelicht zullen worden, namelijk: als doorvoer, als bestemming en als toeristische attractie. Mogelijkheden binnen toeristisch-recreatief vervoer Transport als doorvoer Het belangrijkste doel van het gebruik van toeristisch-recreatief vervoer is het transporteren van mensen naar een andere bestemming dan de plaats van herkomst (bijna 90%). Nadeel voor de touroperator is dat hij weinig tot geen controle uit kan voeren op de geboden service. Door middel van yieldmanagement zal er een poging worden gedaan een optimale mix van prijs en bezetting te behalen. Toch kan het vervoer gezien worden als een belevenis, mits er hoog wordt gescoord op de volgende criteria: het type transport, de persoonlijkheid van de toerist, de frequentie van het reizen en de reissamenstelling van de toerist. Deze criteria dienen te worden vergeleken met nadelen van vervoer als lange wachtrijen en vertragingen. Transport als bestemming Eenmaal op de bestemming aangekomen maken toeristen veelvuldig gebruik van vervoers-middelen als huurautos, taxis, busdiensten en veerboten. Vaak spelen vervoerders op de bestemming hierop in door producten aan te bieden voor specifiek gericht zijn op het toerisme. Hierbij kunt u denken aan excursies en kaarten voor het openbare vervoer in het gebied. Vervoer op de vakantiebestemming is goed voor 10% van het totale toeristische gebruik van vervoer. Transport als toeristische attractie In een aantal gevallen is het vervoersmiddel de attractie tussen bestemmingen in à ©Ãƒ ©n of meerdere landen. De grootste markt hiervoor is de cruise-industrie. Daarnaast zijn er voorbeelden van treinreizen als de Oriental Express, dagtrips met een ferry door Engeland en kanaalcruises door Amsterdam. Vormen van reizen De meest voor de hand liggende manier voor het analyseren van toeristisch-recreatief vervoer is door te kijken naar de verschillende vormen van reizen: land, water, spoor en lucht. De keuze van de toerist voor een bepaalde vorm van reizen hangt samen met invloeden als: afstand en tijd, status en comfort, veiligheid en nuttigheid, prijs/ service en dienstverlening, geografische ligging en de hoogte van de concurrentie tussen de verschillende diensten. Componenten Er kunnen vier basiselementen worden onderscheiden, namelijk: de weg, de wachtruimte, het vervoersmiddel en de drijfkracht. De weg kan omschreven worden als het middel waarin het vervoersmiddel kunstmatig (weg, rails) of natuurlijk (lucht, water) opereert. Wachtruimtes geven de reiziger toegang tot het vervoersmiddel of fungeren als schakel tussen verschillende wijzen van vervoer. Niet alle vervoersmiddelen hebben een geavanceerde terminal nodig. Zo stoppen stadsbussen bijvoorbeeld op plaatsen langs weg. Het vervoers-middel is het voertuig dat het vervoer vergemakkelijkt. De aard van het vervoersmiddel wordt beà ¯nvloed door verschillende factoren als: vraag- en technologische ontwikkelingen en drijfkracht, het belangrijkste element in de ontwikkeling van transport. Vervoersmiddelen kennen een steeds grotere capaciteit, zijn sneller en worden vooral milieuvriendelijker. De vervoersindustrie is een concurrentiegevoelige en complexe industrie. Verschillende vormen van vervoer, verschillende bedrijven en verschillende landen beconcurreren elkaar met hun product. Consumenten kiezen aan de hand van de volgende factoren voor een bepaald vervoersmiddel of bedrijf: veiligheid, kosten, snelheid, afstand, gemak, vertrek- en aankomsttijd, betrouwbaarheid, beschikbaarheid, flexibiliteit, service, comfort, prikkels en status en prestige. (Tourism principles and practice, 2010) Toeristisch-recreatief vervoersaanbod van de sector water Toeristisch-recreatief vervoer over het water kunnen we verdelen in vervoer per veerboot en cruiseschip. Rondreizen per cruiseschip zijn vervolgens onder te verdelen in zeecruises en riviercruises. Er zijn twee verschillen tussen aan te duiden tussen zee- en riviercruises: het soort water dat bevaren wordt heeft gevolgen voor het soort schip en bij een zeecruise wordt er s nachts gevaren, in tegenstelling tot bij de riviercruise, waar varen zelf juist de grootste attractie is en daardoor overdag gevaren wordt. De cruise is voortgekomen uit de overcapaciteit aan schepen, die ontstond toen er in de jaren vijftig geen of nauwelijks meer interesse bestond voor de lijndienstscheepvaart. Sinds de jaren tachtig en het begin van de negentiger jaren is de cruisebusiness in een stroomversnelling terecht gekomen. Jaarlijks boeken zon tien miljoen mensen wereldwijd een cruise. De schepen hebben zich ontwikkelt tot gestroomlijnde drijvende resorts die duizenden passagiers kunnen vervoeren. Ze var en voornamelijk in het Caribisch gebied, de Bahamas, naar Alaska en zelfs Antarctica. Daarnaast zijn er trans-Atlantische cruises naar New York en bescheiden cruises in de Middellandse Zee. In tegenstelling tot zeecruises vinden riviercruises voornamelijk plaats in Europa. Voor de Nederlandse markt zijn bestemmingen binnen Europa dan ook veruit het belangrijkste. Er worden cruises aangeboden op de rivieren: de Rijn, de Maas, de Donau, de Elbe, de Rhà ´ne, de Seine en de Don. Luxueuze riviercruises buiten Europa komen voornamelijk voor op de Nijl en de Mississippi. Ruim honderd jaar geleden werd de akte van Mannheim getekend, door landen die aan de Rijn liggen. In deze akte werd het varen op de Rijn aan regels onderworpen, hetgeen een grote invloed heeft voor de huidige scheepsvaart op de Rijn. Eà ©n van de onderdelen was, dat de schepen op de Rijn en haar zijrivieren bepaalde afmetingen niet mochten overschrijden, zodat à ©Ãƒ ©n van de belangrijkste kenmerken van een riviercruiseschip is in tegenstelling tot het zeecruiseschip dat het maximaal vier verdiepingen mag hebben, waardoor het schip onder de bruggen door kan varen. Door de bovengenoemde voorschriften komen in West-Europa de riviercruiseschepen niet boven de capaciteit van tweehonderd passagiers uit. De tarieven worden voornamelijk bepaald door de luxe van het schip. Prijzen liggen tussen de circa â‚ ¬ 100,- en â‚ ¬ 350,- per persoon per dag. (De wereld in toeristische bestemmingen, 2004) Wat betreft het vervoer van voertuigen en goederen op korte overtochten, bieden veerboten goedkope, betrouwbare en veilige diensten. Vervoer per ferry is de enige mogelijkheid in het geval van een afgelegen en klein eiland waar geen luchthaven aanwezig is. Denk bijvoorbeeld aan Griekenland, waar slechts 15 luchthavens tot 95 bewoonde eilanden dienen. In dit geval verbinden grote veerboten het vasteland, de havens en de eilanden met elkaar. Bovendien verzorgen kleinere regionale veerboten het vervoer tussen de eilanden, met name in het hoogseizoen. In veel gevallen kan de luchtvaart een uitstekend alternatief zijn voor het vervoer tussen de grotere eilanden en het vasteland. Het belangrijkste voordeel van de ferry in vergelijking met het vliegtuig is de prijs, gecombineerd met het feit dat passagiers op de bestemming gebruik kunnen maken van hun eigen voertuig. De populariteit van autovakanties en self-drive pakketten, evenals de invoering van het roll-on-roll-off principe die het voor de haven mogelijk maakt een groter volume van de voertuigen te verwerken tonen de stijging van de vraag naar veerdiensten aan. De geleidelijke liberalisering van het luchtvervoer in Europa, de daling van de kosten van vliegtickets en de ontwikkeling van alternatieve vervoersmogelijkheden hebben ervoor gezorgd dat veerdiensten vors investeren om hun schepen te verbeteren, de snelheid te verhogen en recreatieve voorzieningen te ontwikkelen. Routes met langere overtochten bieden de reiziger tegenwoordig een ruime keuze aan recreatieve voorzieningen en een consument-gerichte service. Moderne schepen als de catamaran en draagvleugelboten zijn in de afgelopen decennia op bepaalde routes ingevoerd. Moderne schepen hebben meer vermogen dan de traditionele veerdiensten en arriveren dus sneller op hun bestemming. Ze varen tot drie keer sneller dan een normale veerboot, terwijl ze een grote wendbaarheid en een snelle turn-around hebben in de haven. Daarnaast nemen ze veel minder ruimte in beslag dan traditionele veerdiensten waardoor ze een minimum aan dokfaciliteiten nodig hebben. Moderne schepen trekken dan ook voornamelijk up-market toeristen aan die de wens hebben hun bestemming zo spoedig mogelijk te bereiken. Nadelen van deze schepen: ze zijn veel duurder dan traditionele veerboten, kwetsbaarder in slechte weersomstandigheden en kunnen luidruchtig zijn. Naast de veerboot, het cruiseschip, de catamaran en de draagvleugelboot kennen we nog een aantal categorieà «n, zoals de binnenvaart, kleine pleziervaartuigen, het zeilschip en de rondvaartboot. Kenmerken van deze vervoersmogelijkheden zijn dat ze vaak op de bestemming zelf gebruikt worden of bevaren worden door de eigenaar van het vaartuig. Daardoor worden ze niet allemaal beschouwd als toeristisch-recreatief vervoer. (Tourism principles and practice, 2010) Recente cijfers cruisetoerisme: Terwijl een groot deel van de Nederlandse reisbranche de negatieve gevolgen van de economische crisis ondervindt, is de cruisesector bezig met een spectaculaire opmars. De cruisemarkt toont aan zich onder lastige omstandigheden aanzienlijk in de toeristische sector te blijven ontwikkelen. Nederland heeft daarentegen een flinke achterstand in te halen op echte cruisenaties, zoals de Groot-Brittannià «, Italià «, Duitsland, Frankrijk en Spanje. In 2008 werden er 4,5 miljoen cruisepassagiers geteld uit Europa, waarvan er 1,5 miljoen uit Groot-Brittannià « kwamen en 0,9 miljoen uit Duitsland. Desondanks is Nederland bezig met een opmars en de meest recente cijfers voor Nederland liegen er niet om. In 2008 nam het aantal Nederlandse cruisepassagiers al met ruim 44 procent toe tot ruim 48.600 en in het eerste kwartaal van 2009 kon de opgaande lijn voortgezet en versterkt worden, aldus Norbert van der Glas, voorzitter van de Dutch Cruise Council (DCC). Aan het einde van het jaar verwacht hij tenminste 60.000 cruisepassagiers te verwelkomen, wat een stijging betekend van 25% ten opzichte van het jaar daarvoor. Tot 1 april 2009 boekten ruim 38.000 Nederlanders een cruisvakantie, 47 procent meer dan in dezelfde periode in 2007. Als de prognose voor heel 2009 uitkomt is het a antal cruisereizigers in twee jaar bijna verdubbeld. De cruisemarkt is in rap tempo bezig zich te ontdoen van haar stoffige imago en spreekt een steeds jonger publiek aan. De beeldvorming is zich bij een breed publiek ingrijpend aan het wijzigen. Dat komt niet alleen door de voortdurende vlootvernieuwing, maar ook door de verjonging en modernisering van activiteiten aan boord. Natuurlijk hebben we nog steeds veel senioren onder onze passagiers, maar ook steeds meer families vinden cruisen geweldig, zo zegt Norbert van der Glas. Tenslotte krijgt de cruisemarkt een opwaartse impuls door het groeiend aantal vertrekken vanuit Nederlandse havens, verwacht Van der Glas. Mensen zien dat of horen daarover en krijgen dan ook zelf zin om op reis te gaan. Voor cruiseschepen die in Amsterdam hun thuishaven krijgen zal het effect door de verwachte komst van een tweede cruiseterminal nabij de Coentunnel op langere termijn positief worden beà ¯nvloed. De huidige Passenger Terminal Amsterdam (PTA) zal dan vooral voor dagbezoek van cruises worden gebruikt. Naar verwachting zal die ontwikkeling in de loop van 2013/2014 haar beslag krijgen. De spectaculaire opmars van de cruisesector werden gepresenteerd tijdens de lancering van de Dutch Cruise Council in 2009. Daarin hebben twintig rederijen of hun vertegenwoordigers in Nederland zich verenigd om samen het cruiseproduct in de breedste zin van het woord te promoten bij reisbranche en consument. De situatie op macro-niveau Inleiding In dit hoofdstuk zal onderzoek gedaan worden naar trends en ontwikkelingen op macro-niveau. Het doel van trendonderzoek is om voorspellingen te doen op de langere termijn. Het verschil met modes en rages is dat deze grillig en tijdelijk zijn, in tegenstelling tot trends waarbij het om langdurige, fundamentele, autonome maatschappelijke ontwikkelingen gaat. Er zal in dit hoofdstuk, tenzij anders vermeld, gebruik worden gemaakt van de andere kant van de vrije tijd (2007) en het artikel Trendwatching Trends voor 2010 (2009). Demografische ontwikkelingen De belangrijkste demografische trends in de westerse wereld zijn vergrijzing, ontgroening en gezinsverdunning. Vergrijzing betekent de opkomst van actieve en koopkrachtige senioren. Daarnaast ontstaat een groep ouderen die met een zeer beperkt inkomen dito mogelijkheden hebben. De ontgroening leidt tot een afname van de jongerenmarkt qua omvang, maar deze wordt deel gecompenseerd door toegenomen bestedingsmogelijkheden. De gezinsverdunning leidt tot een toename van het aantal uren huishoudelijke arbeid en daarmee op macro-niveau tot een afname van de hoeveelheid vrije tijd. De tijdsbesparende functie van nieuwe huishoudelijke apparatuur wordt daardoor op macro-niveau ook grotendeels tenietgedaan. Bevolking per component Net als de bevolkingsgroei laat de huishoudensgroei een langzaam afnemend verloop zien (Van Duin en Loozen, 2009). Ondanks het feit dat de huishoudensgroei de komende jaren met 0,5 tot 1 procent per jaar zal groeien, zal deze in 2040 geleidelijk tot nul zijn afgenomen. De relatieve groei van het aantal huishoudens zal in de aankomende jaren tweemaal hoger liggen dan die van het aantal inwoners. Dit wordt veroorzaakt door het groeiende aantal alleen-staanden, waardoor de gemiddelde grootte van huishoudens voortdurende afneemt. Een andere belangrijke oorzaak is de vergrijzing. Ouderen zijn na het verlies van hun levenspartner vaker alleenstaand dan personen van middelbare leeftijd. De laatste groep kiest er sinds de jaren zeventig steeds meer voor om ongehuwd samen te wonen. Omdat ongehuwde stellen hogere scheidingsrisicos met zich meedragen, zal deze informalisering gepaard gaan met een toenemende instabiliteit. De verwachting is dat de huishoudensver-dunning rond 2040 vrijwel uitgewe rkt is. Vergrijzing/ ontgroening Uit cijfers van het Centraal Bureau voor de Statistiek die de nieuwe regionale prognose beschrijft van de periode 2009-2040 blijkt dat de vergrijzing in Nederland in de afgelopen jaren is toegenomen. In de periode tussen het einde van de Tweede Wereldoorlog en het begin van de jaren zeventig lag het aantal geboorten in Nederland beduidend hoger dan in de jaren ervoor en erna. Dit had tot gevolg dat Nederland hedendaags een grote bevolkingsgroep van 39-63-jarigen heeft. Het aantal ouderen zal door de instroom van de 39-63-jarigen vanaf 2011 snel stijgen. Het aandeel van 65-plussers zal stijgen van 15 procent in 2009 naar 26 procent rond 2040. Door de stijgende levensverwachting blijven ouderen bovendien steeds langer in leven. Van de mensen die dit jaar 65 werden zal naar verwachting in 2025 ruim 70 procent 80 jaar worden. Van de mensen die in 1990 65 jaar werden, haalde slechts zon 60 procent de 80 jaar. Het verschil in vergrijzing tussen stad en platteland komt duidelijk tot uiting indien gekeken wordt naar de verstedelijkingsgraad. Niet-stedelijke gemeenten hebben over het algemeen een oudere bevolking dan stedelijke gemeenten. Volgens de prognose neemt dat verschil de komende decennia nog iets toe. In de regios Amsterdam, Den Haag, Rotterdam en Utrecht blijft het aandeel ouderen tot 2040 lager dan een kwart. In deze regios zijn de grote steden economische groeipolen en deze oefenen, gecombineerd met een groot aanbod aan (onderwijs) faciliteiten, een sterke aantrekkingskracht op jongeren uit. Bevolkingsgroei en -krimp Na de sterke bevolkingsgroei in de jaren vijftig, zestig en zeventig, veroorzaakt door de aanhoudende geboortegolf en de grote stromen immigranten die Nederland ontving, is hier in de 21ste eeuw langzaam een kentering in gekomen. In snel tempo daalde de bevolkingsgroei in de eerste helft van dit decennium en bereikte in 2006 een dieptepunt toen de bevolking met slechts 24 duizend personen groeide en er voor het eerst sinds lange tijd sprake was van een vertrekoverschot. In 2007 trok de immigratie weer sterk aan, met een recordaantal van 143 duizend in 2008. In de bevolkingsprognose van het CBS wordt verwacht dat de bevolkings-groei van Nederland nog zon 30 jaar zal aanhouden. Wel zal het tempo veel lager liggen dan in het verleden. Is krimp op nationaal niveau dus nog niet aan de orde, voor bepaalde regios en steden ligt de situatie anders. Diverse grote steden hebben, als gevolg van suburbanisatie, in de tweede helft van de vorige eeuw hun inwonertal zien afnemen. Deze trend is over igens gekeerd door nieuwe inzichten in het beleid en daarmee samenhangend meer woningbouw aan de randen van de grote steden. Meer informatie over deze ontwikkeling is te vinden onder het verstedelijking, verderop in dit hoofdstuk. Huishoudensgroei en -krimp/ Afnemende omvang van huishoudens In beleidskringen heeft de discussie over groei en krimp meestal betrekking op het aantal personen. Voor de woningbouw is het echter veel belangrijker hoe de ontwikkel