Reynold Defense Firm Essay Example | Topics and Well Written Essays - 250 words

Reynold Defense Firm - Essay Example In addition, the correspondence procedure takes out issues of postponement and customer disappointment, which may impactsly affect the business exercises of the firm. The media channels permit the firm to abuse a natural favorable position since our administrations don’t separate clients on grounds of monetary qualities. The call administrations give free discussion openings a move not experienced with most lawful firms. In issues of trustworthiness to offer lawful help with no accentuation on monetary profit, the firm is a champ. Their administrations get dependent on the originators various experiences with the legitimate framework on issue majoring with DUI. The individuals from staff have created proficient relational abilities that take into consideration the conveying of value reactions altered with the goal that it can suit the common circumstance. Other than the online correspondence media, the firm has a bulletin that diagrams a portion of the creating issues identifying with the lawful framework. In these bulletins, the firm gives a few cures and measures that individuals should take when confronted with a crook or DUI accusation. People can likewise email the firm plotting their charges to get free exhortation or look for portrayal in any area in Oregon. All media channels embraced guarantee an effective exchange between the customers and a legitimate delegate from the

Current Environmental Laws In The Philippines Environmental Sciences Essay

Current Environmental Laws In The Philippines Environmental Sciences Essay It is thusly proclaimed a national strategy to forestall, subside and control contamination of water, air and land for the more viable use of the assets of this nation. P.D. 1151(1979) Philippine Environmental Policy characterizes the general arrangements on the quest for a superior personal satisfaction for the present and people in the future and commands the endeavor the natural effect appraisals for all activities, which may altogether influence the earth. P.D. 1152(1977) Air Quality Management to accomplish and keep up such degrees of air quality as to ensure general wellbeing and to forestall to the best degree practicable, injury or potentially harm to plant and creature life and property, and advance the social and monetary improvement of the nation. P.D. 1586(1978) Establishing an Environment Impact Statement System, Including Other Environmental Management Related. - Defines the system for the execution of the ecological effect appraisal as the instrument to accommodate the effects of improvement extends on society and the physical condition. P.D. 389(1974) (P.D. 705) The Forestry Reform Code arranges, updates and raises ranger service laws in the nation. It stresses the feasible usage of woods assets. P.D. 330 P.D. 953 Laws on Penalizing Illegal Cutting of Trees Open backwoods and woods holds are significant regular assets of the nation which must be safeguarded and monitored for people in the future it is the grave obligation of each resident to shield open woodland and timberland saves from unpredictable logging, silly denudation and wanton demolition to the drawback of the present and people in the future. P.D. 953 1153 Laws on Tree Planting - The planting of trees on lands bordering the edge of streams and rivers in both a proportion of beautification and reforestation and the planting of trees along streets and regions planned for the basic utilization of proprietors of parcels in developments will give conceal and energizing condition in that. P.D. 331(1973) Requiring that every single Public Forest be created, Managed, and Utilized on a Sustainable Yield Basis with the Benefit of Technical Forestry know-how of Registered Foresters. - The Philippine timberlands are the patrimony of the Filipino individuals and as such they must be created, overseen, and used in such a way as to guarantee their interminability in gainful condition to serve all Filipinos, living or yet to be conceived P.D. 704(1974) Preservation of Optimum Productivity of Fishery Resources through Conservation and Protection. there is a convincing need to build the creation of fish to cut down its cost to a level which will be inside the scope of our kin, and simultaneously safeguard the progression of out fishery assets in gainful condition through shrewd use and legitimate protection P.D. 1015(1976) Banning the Operation of Commercial Fishing inside a Distance of 7 Kilometers from the Shoreline. It is the arrangement of the state to elevate the monetary state of the civil and little scope anglers P.D. 1058(1976) Increasing the Penalties for Illegal types of Fishing. - There is a need to expand the punishments for specific acts restricted by existing correctional laws for an increasingly compelling insurance of the countries fish assets P.D. 1219(1977) Providing for the Protection of Coral Ecosystems. It is fundamental that the investigation, misuse, use and protection of these assets be appropriately controlled to guarantee the conservation of the countrys marine condition. P.D. 1067(1976) Water Code of the Philippines receives satisfactory measures to monitor and manage the utilization of water in business, mechanical and neighborhoods. It additionally gives other strategy rules in water quality and the board of water assets. P.D. 463(1974) Providing for a modernized arrangement of organization and air of mineral grounds and to advance and energize the improvement of abuse. - Mineral creation is a significant help of the national economy, and consequently the heightened revelation, investigation, advancement and shrewd use of the countrys mineral assets are desperately required for national turn of events. P.D. 1198(1977) Reinforces this arrangement for rebuilding of mined-out regions to this unique condition to the degree conceivable. it is the strategy of the State to make, create, keep up and improve conditions under which man can be generally beneficial and to guarantee the fulfillment of an ecological quality that upgrades his pride and prosperity P.D. 1251(1977) Imposing an expense on working mining organizations to be known as mine squanders and following charge to make up for harms to private landowners - A semi-yearly expense to be known as Mine Wastes and Tailings Fee is thus forced on all working mining organizations at such sum/s to be controlled by the Secretary of National Resources, upon the suggestion of the Director of Mines. P.D. 984(1976) The Revision of Republic Act No. 3931, Commonly Known as the Pollution Control Law. - It is thus announced a national arrangement to forestall, subside and control contamination of water, air and land for the more compelling use of the assets of this nation. P.D. 1181(1977) (supplements the arrangement of P.D. 984) Providing for the Abatement, Control and Prevention of Vehicular Pollution Establishing the Maximum Allowance Emissions of Specific air Pollutants from a wide range of Vehicle. - It is the motivation behind this Decree to forestall, control, and lessens the emanation of air contamination from engine vehicles so as to ensure the wellbeing and government assistance of the individuals and to forestall or limit harm to property and perils to land transportation. P.D. 600(1974) (corrected by P.D. 979) Water Pollution Control disallows the release of oil, poisonous fluid substances, and other destructive substances into the countrys inland and regional waters. P.D. 825(1975) Providing Penalty for Improper Disposal of Garbage and different types of Uncleanliness - One of the chief points of the New Society is to impact social, monetary and political change through control and request; P.D. 856(1975) Sanitation Code Spots the obligation in the neighborhood government units for he strong waste administration in his general vicinity of creation. P.D. 1144(1977) Control of Pesticides It is a Government strategy to give satisfactory help to the rural part in accordance with national target of expanding food creation; R.A. 8749 Philippine Clean Air Act of 1999 accommodates a far reaching air contamination control approach R.A. 7160 Local Government Code of 1991 - Provides that neighborhood government should impart to the national government the duty in the administration and upkeep of biological equalization inside their regional ward subject to national approaches and other relevant arrangements of the code. R.A. 6969(1990) Toxic Substances and Hazardous and Nuclear Wastes Control Act Approves the DENR to build up a program to control, limit or preclude the importation, produce, preparing, deal, annihilation, use and removal of synthetic substances, and blend that present nonsensical hazard as well as injury to wellbeing or the earth. R.A. 8550(1998) The Fisheries Code of the Philippines - Defines the strategies of the state in the security, protection and successful administration of fisheries stock just as recognizing reasonable angling techniques in Philippine beach front waters. R.A. 9003 The Solid Waste Management Act of 2001 - A demonstration accommodating an environmental strong waste administration program, making the important institutional systems and motivating forces, announcing certain demonstrations denied and giving punishments, appropriating reserves accordingly, and for different purposes. R.A. 9275-Philippine Clean Water Act of 2004 - A demonstration giving an extensive water quality administration and for different purposes. R.A. 9729 Climate Change Act of 2009. - A demonstration mainstreaming environmental change into government arrangement plans, building up the system procedure and program on environmental change, making for this reason the environmental change commission, and for different purposes. How Tourism is influenced by the Current Environmental Laws in the Philippine; The travel industry is exceptionally influenced by the present laws actualized, in view of the limitations and rules executed by the legislature. Vacationer who needs to visit various pieces of the nation most particularly to see eco-accommodating spots visiting eco parks are otherwise called ecotourism, Ecotourism is visiting a delicate, immaculate, and moderately undisturbed characteristic zones, its motivation is to teach the voyager or traveler, to give assets forâ ecological preservation and to straightforwardly profit for theâ economic improvement. In those days, visitor had simple access in visiting our nation, uniquely our celebrated places of interest. But since of the laws executed, different guidelines governs now fills in as rules for the travel industry. In the same way as other different nations, ecotourism exercises are regularly taken care of on the neighborhood level. That is, neighborhood overseeing bodies make explicit standards, guidelines, visits, and chiefs for explicit territories. For the individuals of the provincial Philippines, this has been a significant financial lift. This is on the grounds that a large number of these nearby administering bodies necessitate that vacationers recruit neighborhood advisers for bring them into ensured neighborhoods. This isn't really valid for all territories in the Philippines, yet there are a few regions that take part in this training. These measures are set up to help guarantee that the neighborhood network gets a considerable amount of all monies earned by the utilization of their conventional terrains. This additionally assists with ensuring that extremely exacting morals are followed comparable to how visitors interface with the land. How Tourism can help improve the Current Environmental Situation in the Philippines; An assortment of natural

Whats Really Happening When You Have a Freudian Slip

What's Really Happening When You Have a Freudian Slip History and Biographies Print Whats Really Happening When You Have a Freudian Slip By Kendra Cherry facebook twitter Kendra Cherry, MS, is an author, educational consultant, and speaker focused on helping students learn about psychology. Learn about our editorial policy Kendra Cherry Updated on September 27, 2019 Fabrice Lerouge / Getty Images More in Psychology History and Biographies Psychotherapy Basics Student Resources Theories Phobias Emotions Sleep and Dreaming A Freudian slip is a verbal or memory mistake that is believed to be linked to the unconscious mind. These slips supposedly reveal the real secret thoughts and feelings that people hold. Typical examples include an individual calling his or her spouse by an exs name, saying the wrong word, or even misinterpreting a written or spoken word. How Freudian Slips Reveal the Unconscious It was the famed psychoanalyst Sigmund Freud who described a variety of different types and examples of Freudian slips in his 1901 book The Psychopathology of Everyday Life. Almost invariably I discover a disturbing influence from something outside of the intended speech, he wrote. The disturbing element is a single unconscious thought, which comes to light through the special blunder. According to Freud, these errors reveal unconscious thoughts, beliefs, or wishes. Two factors seem to play a part in bringing to consciousness the substitutive names: first, the effort of attention, and second, and inner determinant which adheres to the psychic material, Freud suggested in his book. Besides the simple forgetting of proper names there is another forgetting which is motivated by repression, Freud explained. According to Freud, unacceptable thoughts or beliefs are withheld from conscious awareness, and these slip help reveal what is hidden in the unconscious. Modern Takes on Freudian Slips The term is popularly used today in a humorous way when a person makes a mistake in speech. In these situations, observers often suggest (in a comic way) that the error reveals some hidden emotion on the part of the speaker. While Freud imparted a great deal of hidden meaning in these errors, verbal mistakes are simply an inevitable part of life. In an article for Psychology Today, writer Jena Pincott suggested that people make one to two errors for every 1,000 words they say. This amount to somewhere between 7 and 22 verbal slip-ups during the average day, depending on how much a person talks. Some of these errors might indeed reveal unconscious thoughts and feelings, but in other cases, they are simply cases of misremembering language errors and other mistakes. A few studies have supported Freuds idea that unconscious or even suppressed thoughts can increase the likelihood of verbal errors. Motley and Bears (1979) found that people who thought they might receive an electric shock were more likely to make shock-related verbal mistakes. Those who were near an attractive female experimenter were also more likely to mistake nonsense phrases for words related to beautiful women. In one classic experiment, Harvard psychologist Daniel Wegner asked participants to engage in a stream-of-consciousness verbalization for five minutes. People just talked about whatever passed through their minds for a brief period. The catch was that Wegner asked them not to think about a white bear. Whenever they did think about a white bear, they were supposed to ring a bell. What Wegner found was that those who had been asked not to think about a white bear thought of it an average of once per minute. Based on these findings, Wegner developed what he referred to as a theory of ironic process to explain why suppressing certain thoughts can be so difficult. While certain parts of the brain suppress the hidden thoughts, another part of our minds occasionally checks in to make sure that we are still not thinking about it--ironically bringing the very thoughts we are trying to keep hidden to the forefront of our minds. In many cases, the harder we try not to think of something, the more frequently it springs to mind. And the more often we think of something, the more likely we are to express it verbally. The Original Freudian Slip Freud based his idea on his work with a young man who misquoted a Latin phrase from The Aeneid. The young man had dropped one of the Latin words when he repeated it to Freud, which the psychoanalyst believed that dropping the word offered a revealing look into the young mans unconscious mind. Through free association, Freud determined that the word reminded the young man of blood, which he believed was linked to a pregnancy scare the man had experienced with his girlfriend. Freud suggested that the man had blocked out the word because it reminded him of this negative experience. Examples of Freudian Slips in Popular Culture You’ve probably heard plenty of amusing slips of the tongue in your own life. Think about the time your biology teacher accidentally uttered orgasm instead of organism (much too amusing your class). Or the time you accidentally told someone you were “Sad to meet you!” instead of “Glad to meet you!” Verbal gaffes also provide plenty of amusement when spoken by famous figures, especially when such moments are captured on film. Here are just a few modern examples of famous Freudian slips: During a Vatican sermon in 2014, Pope Francis accidentally used the Italian word cazzo (which translates to F***) instead of caso (which means example). The Pope quickly corrected himself, but not before the slip posted on dozens of websites, blogs, and YouTube videos.During a televised speech on education, Senator Ted Kennedy meant to say that Our national interest ought to be to encourage the best and brightest. Instead, Kennedy accidentally said breast - his hands even cupping the air as he said the word. While he quickly corrected his gaffe and continued, the slip of the tongue seemed revealing considering his hand gestures and the familys reputation for womanizing.At a Washington D.C. dinner party, Condoleezza Rice, then National Security Advisor to President Bush stated, “As I was telling my husbâ€"as I was telling President Bush.” The Freudian slip seemed to reveal perhaps some hidden feelings the unmarried Rice might hold toward her boss.When actress Amanda Seyfried appea red on the Today show to promote the film Ted 2, announcer Willie Geist accidentally described her as titsy rather than ditzy. Besides simply being an amusing slip, the comment perhaps revealed what was really on his mind.

Effect of Vampires on Society - 3098 Words

When you hear the word vampire you probably think of today’s modern charters, from Twilight or True Blood. According to the article â€Å"Blood Ties, The vampire Lover† By Helen T. Bailie, Today’s vampires make up book 53% of today’s book sells. Vampires in today’s image have become creatures of lust, the dream man of teenage girls all over the world. Before pop culture took over vampires in stories, were monsters of horror. Pre-dating today’s pop culture fad, vampires were used to explain things that people didn’t understand, something scary and unknown. So what has caused all theses changes in vampire stories over time? Changing them from feared unknown demons to every teens heartthrob. To find out where the change came from we’ll look at†¦show more content†¦(Keyworth 243). Most deaths did occur because of being around old corpses but generally because of the diseases that they carried. An anonymous monk at Byland Ab bey wrote majority of the stories of vampires. The monks and high relgious leaders of these towns came up with these legends because they believed in vampires, but they also used them to control the people of their town. By doing the right thing during life you could prevent yourself from becoming a vampire in the afterlife. So basically the religious leaders played on the fears of the towns people to keep them in church and keep them in line. One of the more famous stories of this time was of two brothers that fell down dead one day and were buried only to be seen later that night walking through the town. (Keyworth 245). These stories spread and eventually the whole world was on vampire alert. These stories continued well on into the 1900’s eventually dying off slowly as the scientist learned more about humans, the body and how it worked. The first shift in these stories was from the tales of monks to an actual novel written by Bram Stocker. Dracula, a story still talked a but today, Dracula was really the introductory novel to bring vampires into fiction works. The story of a man that travels to buy property in Transylvania from Count Dracula, realizing shortly after getting to the castle thatShow MoreRelatedVampires And Its Effects On Society1318 Words   |  6 Pageshad gotten more attention in recent years are vampires. Vampires have changed from scary monster to attractive dead people because of how the media portrays them now a day. Some people are fascinated by this monster so much that some have created cults saying they are vampires too. The thing people have to understand is that vampires have never existed and were just created to explain the unexplainable. According to the Oxford English Dictionary vampires are defined as â€Å"A preternatural being of a malignantRead MoreEssay on The Effects of Modern Vampires on Society1980 Words   |  8 Pagespopular with the Twilight books, which were released in 2005. Since then, the vampire-and other supernatural creature-themed fantasy romance novels have been extremely popular all over the world. According to statistics brought out by Romance Writers of America, in 2009, the paranormal subgenre made up 17.16% of the popular romance genre, which in itself 54% of all books sold by the publishing industry.(Bailie) Vampires have come a long way from the 19th century until nowadays. Not so long ago theyRead MoreThe Opposition Of Dracula And Its Influences On Vampire Literature1467 Words   |  6 PagesDracula and its influences on vampire literature Have you ever thought to yourself, what has influenced vampire literature today? Well, neither have I, but it wouldn’t hurt to touch on the subject. Dracula introduces the idea of lust and death within vampirism. Also, there are many connections that I make throughout this essay between Dracula and I am Legend, proving that Dracula was an influence on the book. The opposition of Dracula has had great influences on vampire literature.We see that theseRead MoreComparing Dracula, And I Am Legend By Richard Matheson1584 Words   |  7 PagesSince the beginning of time vampires have been categorized into different types† and are portrayed in different ways throughout several books. This paper will focus on three vampires from the following books: Dracula by Bram Stoker, and I am Legend by Richard Matheson. Dracula is considered to be the traditional vampire, where it all started, and the vampires in Matheson’s book, follow somewhat Stoker’s concept, but is more of a modern â€Å"type† of vampires. Certain vampire elements have been presentedRead MoreDracula vs Blade1516 Words   |  7 Pagescreate a story, and for someone else to evolve them. Events occurring within society and the way people perceive other’s at a time also contributes majorly to the development of modernity. Bram Stoker’s novel ‘Dracula’ and David Goyer’s film ‘Blade Trinity’ contrast significantly as a result of difference in context. Weaponry had developed immensely over the two stories to cater for the advancements from one classic vampire to a fresh, modern, powerful one. The story of ‘Dracula’, set in VictorianRead MoreAn Argument: Do Vampires Exist?1024 Words   |  5 PagesDo Vampires Exist: Or Bite Me! Since the beginning or recorded history, there have been stories told about vampires. Bram Stoker’s renowned novel Dracula was published in 1897, and since then the myth about vampires has evolved and changed. We now have Stephanie Meyer’s Twilight Saga and HBO’s True Blood examining whether vampires exist in the known world. Whatever you think, you should be aware that vampires are creations of fiction writers based on old folk tales. On the other hand there areRead MoreA Girl Walks Home Alone At Night1735 Words   |  7 Pagescomes across a mysterious lady dressed in all black. He takes her to his place thinking that they will have sex. But, the mysterious lady grows fangs and sucks on Hossein’s neck; killing him. The mysterious lady’s name is never revealed but she is a vampire who kills men that mistreats or belittles women. Although, she comes across Arash, she sees vulnerability in him and he seems different than all the other men that she has come across. They become close throughout the movie, as the mysterious womanRead More Buffys Deeper Meanings Essay744 Words   |  3 Pages With Buffy the Vampire Slayer taking the Australian television market by storm, it is becoming increasingly obvious that Buffy does more than just kick vampire butt. Star Sarah Michelle Gellar not only entertains teens nation wide, but also questions morals and values – the same values that have been plaguing the gothic genre since Bram Stoker’s Dracula – and socialises with the majority of young Australians’ lives. Popular culture is becoming increasingly consumed by a moralistic tone, and BuffyRead MoreThe Vampires Are Now A Metaphor Of Human Beings1615 Words   |  7 Pagesthe Gothic literature, the vampires have moved from being a peripheral element with the genre to a place near the center and are capable of generating its own massive tradition now. In the recent literary history, they have already been adapted to play a role of a rebel against the moral, social, religious, and even sexual taboos. Put simply, the vampires are now a metaphor of human beings in the modern society and life. With the publication and popularity of The Vampire Chronicles, especially thatRead MoreThe Subculture I Choose Is Vampire Lifestyle843 Words   |  4 Pagesculture. The subculture I choose is Vampire Lifestyle. In this essay, I will talk about the theoretical perspective, what is culture and how it connect with counter culture, how it has been affected by the consumerism and how it held together by the cultural capital. I choose the symbolic interactionism for my theoretical perspective. From sociological perspective, symbolic interactionism most concerned with the face-to-face interaction between members of society. Symbolic interaction reminds us

Scottsville Textile Mill Case - 747 Words

Scottsville Textile Mill Case MGM 350 Production Schedule and loom assignment Decision Variable X1: Yards of fabric 1 on dobbie loom X2: Yards of fabric 2 on dobbie loom X3: Yards of fabric 3 on dobbie loom X4: Yards of fabric 4 on dobbie loom X5: Yards of fabric 5 on dobbie loom X6: Yards of fabric 3 on regular loom X7: Yards of fabric 4 on regular loom X8: Yards of fabric 5 on regular loom X9: Yards of fabric 1 purchased X10: Yards of fabric 2 purchased X11: Yards of fabric 3 purchased X12: Yards of fabric 4 purchased X13: Yards of fabric 5 purchased Profit Contribution per yard |Fabric |Manufacturing (Selling-Variable) |Purchasing†¦show more content†¦X1+X9=16500 X2+X10=22000 X3+X6+X11=62000 X4+X7+X12=7500 X5+X8+13=62000 0.216X1+0.216X2+0.191X3+0.19X4+0.24X5≠¦5760 0.19X6+0.19X7+0.24X8≠¦21600 X1, X2, X3, X4, X5, X6, X7, X8, X9, X10, X11, X12, X13≠§0 [pic] [pic] Project Contribution to Profit Objective Function=62548.860 X1=4666.67, X2=22000, X3=0, X4=0, X5=0, X6=27868.421, X7=7500, X8=62000, X9=11833.333, X10=0, X11=34131.579, X12=0, X13=0 So it means Yards of fabric 1 on dobbie loom is 4666.67; Yards of fabric 2 on dobbie loom is 22000; Yards of fabric 3 on dobbie loom is 0; Yards of fabric 4 on dobbie loom is 0; Yards of fabric 5 on dobbie loom is 0; Yards of fabric 3 on regular loom is 27868.421; Yards of fabric 4 on regular loom is 7500; Yards of fabric 5 on regular loom is 62000; Yards of fabric 1 purchased is 11833.333; Yards of fabric 2 purchased is 0; Yards of fabric 3 purchased is 34131.579; Yards of fabric 4 purchased is 0; Yards of fabric 5 purchased is 0. Additional loom time If there is a ninth dobbie loom, the total work hours will be 6480 (9*24*30=6480), still in the range of [4756, 8316], so the optimal solution is the same. So the new objective function is 62548.86+0.648*(6480-5760) =63015.42 Objective Coefficient range Yards of fabric 1 on dobbie loom [0.315, 0.34] Yards of fabric 2 on dobbie loom [0.3, unlimited] Yards of fabric 3 on dobbie loom [unlimited, 0,624] Yards of fabric 4 on dobbie loom [unlimited, 0.714] Yards

Macroeconomic Free Essays

Macroeconomic study of deal not with Individual but aggregate of these quantities not with Individual Incomes but nation incomes not with Individual output but with the nation output Macroeconomic as two policies which are; Financial or monetary macroeconomic policies: The government can make the balance of how money can be supply. The money can be supply In three term which are: OMO- Open Market Operation Reserve requirement Interest Rate OMO can supply money Into the bank through central bank example the BOT can sell the shared to the bank at the lower price who can be faced the Inflation and then hat central bank can buy to the higher price theory. In microeconomics the behavior can depend on how they make decision on choice of the good but in the microeconomics it not consider the 1 OF3 Inalvlaual Denavlor It cons10er aoout tne tne wnole nation Microeconomics is the study of decision that people and business make regarding the allocation of resource and price of good and services . We will write a custom essay sample on Macroeconomic or any similar topic only for you Order Now This can means also taking into account taxes and regulation created by government. Macroeconomic focused on the supply and demand and other forces that determine the price level seen in he economy. For example microeconomics would look at how a specific company could maximize its production and capacity so it could lower price and better compete in its industry Macroeconomic on the other hand is it the field of economic that studies the behavior of the economy as a whole and not Just on the specific companies but the entire industries and economic . This look at economy-wide phenomena such as Gross Nation Product (GDP) and how its affected by changes in unemployment, nation income, rate growth, and price level . For example , macroeconomic would look t how an increase/decrease in net export would affect the nation capital account or how GDP would be affected by unemployment. What are the determinants of economic growth and living standard in a country in macroeconomic are used in determine to know why this country is more develop than other country are used macroeconomic. For example why Kenya are more develop than Tanzanian country is this how can be used or. Since a century ago developed nation have achieved a high rate of economic growth which in turn raised people standard of living macroeconomic examines the reasons behind the speedy conomic growth in the developed nations and understand the reason why this growth is different between the various countries Productivity The average labor productivity or the output of a single worker is important to determine the standard of living macroeconomic will question the factor which decide on the employee productivity growth rate macroeconomic is seen the one worker or single worker in order to determine the average of the worker in the economic that can assure the economic product of the nation or the whole can grow or not in yht area What are the cause of the decline and growth in an economic ny economy will surely go through decline and growth in relation to this macroeconomic will look at the cause of these changes in the economic and the government policies that can be implement to overcome an economic problem wnat are Tactor wnlcn affectlng unemployment Rate of unemployment means there is an available work force that wants to work but has no Jobs the rate of unemployment will increase when the economic situation is good macroeconomic will examine the reasons for unemployment types of unemployment and ways to overcome unemployment What are factor that cause the general price level or inflation to rise Inflation is an increase in the general price level which is usually measured by changes in the consumer price index the question asked in a macroeconomic analysis are 1 . what are factor affecting inflation. 2. Why does inflation rate differ from time to time 3. why does inflation rate fro one country to another The macroeconomic does not look for the one person or individual s a policy but can be used to all people For instances if a national saving is increased at the cost of individual welfare it is not considered a wise policy The macroeconomic analysis regard aggregate as homogenous but does not into its internal composition For instance if the wages of the clerks fall and the wages of the teachers rise the average wage may remain the same It is not necessary that aggregate variable are important. For instance nation income is the total of the individual income if the nation income in the country goes up it is no necessary that the income of all individual in the country will also rise there is possibility that that the rise in nation income may be due to the increase in the income of a few rich families of the country How to cite Macroeconomic, Papers

The Great Lawsuit by Margaret Fuller and The Leaves of Grass by Walt Whitman

Introduction Margaret Fuller and Walt Whitman stand out as two ancient literature goons who have done various works in literature and ones who appreciation for what they did. They feature some resemblances as well as contradictions in their works in the way they employs the different aspects of literature such as styles, settings, plots and even their themes.Advertising We will write a custom essay sample on The Great Lawsuit by Margaret Fuller and The Leaves of Grass by Walt Whitman specifically for you for only $16.05 $11/page Learn More Therefore, it is important to study deeper the literal works of the two in order to get clear similarities or differences if any in their works. The theme that this discussion will zero on is on the one’s self or rather individuality or the unit of self as it appears as a common theme in The Great Lawsuit by Margaret Fuller and The Leaves of Grass by Walt Whitman. The two writers have in depth touched on the the me of self in their works. It therefore provides a good point or basis of analyzing and comparing some commonness and contradictions that stand based on the theme. Comparison Fuller has remained one of the well remembered writer who laid a foundation in the securing and elevating women in society. The culture and traditions that are in place has positioned women in some sort of slavery and demeanor. Through her book â€Å"The Great Lawsuits† she points out the disadvantages that women face when it comes to matters of legal due to cultural confinements. For instance, she expresses in the book that women do not hold properties on equal grounds or terms as their male counterparts and incase their husbands pass away, they are allowed to inherit part of the property for instance a child but not everything (Fuller 1627). Therefore, the difference, which exists between the men and the women, is based on the self or rather the individuality of male in their thinking. This belief by t he male counterparts to have an upper hand in all sectors or areas in life is what dominates in her book. She is of the view that there is a greater need for such individuality, which is held by men to come to an end. This can only be witnessed by woman taking a role in educating and elevating their women counterparts so us they can be able to act independently, empowered and make decision solely as equals as their male counterparts does. Therefore, the author throughout this theme clearly exposes the imbalance that society is undergoing. Likewise, Whitman’s preface to the 1855 edition, of Leaves of Grass has a greater part on the theme of individuality or self. Although the book has many categories of poems, most of the poems touch on this theme of individuality and self.Advertising Looking for essay on comparative literature? Let's see if we can help you! Get your first paper with 15% OFF Learn More For instance, in the inscriptions, the poem â€Å"I hear Ame rica singing† the author, Whitman has in length elaborated on the theme of individuality. He hears the carols of all people singing, people who contribute to the culture and life of America. The voices or carols are sung by mechanics, masons, carpenters, shoemakers and all categories of people. The singing by these various people expresses their happiness and joy illustrating a sense of individuality in terms of women and men as every person sings what belongs to her or him as opposed to any other person. There is therefore a sense of self and individualism in the way people behaves. Every person is trying to play his or her part solely in order to achieve satisfactions. Therefore, the two authors’ take on this aspect of individualism is to greater level similar. They both have some commonness through how individuals navigate other ways to consider their own way or life without necessarily putting in minds the needs and desires of their colleagues. For instance, Fullerà ¢â‚¬â„¢s theme of individuality shows clearly how women plot and should act in order to regain their position in society. It will take their own initiative to be where they want to be. If they do not cooperate towards one common goal they may continue to remain in their current positions, as their male counterparts continue to dominate and under regard them in the society. On the other hand, Whitman’s theme on individuality is also clear as every individual is more concerned about his or her own interests in life and therefore does something that better interests him/her. Therefore, there is a good percentage of comparison between the works of these two authors. Contrasts There also exists some level of contrasts in the theme of self unit or individuality that the two authors portray. For instance, Fuller is more concerned about the future of the women. She is categorically concerned about the plight of the women and therefore agitates for their own liberations from slavery t hat has been imposed by the culture and the traditions which have over looked their rightful share in the day to day life. Fuller sees self not necessarily as a divine being but she is optimistic that man and men and woman and women share some commonness and therefore there is need for both of them to have some equality in the way they relate, and in everything they do. The way the society has placed boundaries between them should not be tolerated but rather they need to be one in their soul and in whatever they does.Advertising We will write a custom essay sample on The Great Lawsuit by Margaret Fuller and The Leaves of Grass by Walt Whitman specifically for you for only $16.05 $11/page Learn More Opportunities should be availed to both of them as opposed to men only. Therefore, this is one of the contrasts that stand between her and Whitman’s poems in the Leaves of Grass who sees self as a composition of both spirit and physical. According to W hitman, self is about individual identity of a man, including his being and quality (Stacy 1850). These attributes are different from those of other people, which clearly illustrates that there is no way in which the self of one person may be similar to that of another person. Therefore, by being self, a person will possess quality attributes that will not conform to other people’s beliefs. This contradicts with Fuller’s view of the same in her book, â€Å"The Great Lawsuits†. Furthermore, Whitman is of the view that self aspect of a person is just a portion or part of the divine soul of an individual. This is demonstrated through the way Whitman has referred in most of his work using â€Å"I†, which shows that though it is universal, it is part of the divine. Fuller’s understanding of self solely was based on the sense of gender and the traditional meaning attributed to these two different sexes. She only postulated or affirms the important of a t ime when these discriminations based on the roles and gender will come to an end through embracing of oneness and avoiding selfness or rather selfishness. She therefore wishes to see a country where by people will be united and embrace change in which both men and women will be allowed or availed to equal rights and freedom in the society. The slavery and seclusions that are witnessed because of the traditional stereotypes should be brought to an end with people or society embracing new forms of viewing the aspect of self. On the other hand, Whitman sees self as an intrinsic part of human being and as something which is both physical and spiritual hence claiming that due to these differences, people have different selves and therefore not concerned about the person’s gender or role. Conclusion Form this discussion, it is evident that these two authors, Fuller and Whitman, have to some extend featured some similarities in their theme of self in their works. These perhaps can b e explained because of their setting and the traditional at their time. Their society and the traditional, past information may have grounded them in thinking in this same line. However, though their thinking did resemble, there is also instances where some differences elicited especially on the idea of self. For instance, Whitman is of the view that self is something that consist of spiritual and physical while Fuller mostly zeroes on the physical aspects of self or individuality.Advertising Looking for essay on comparative literature? Let's see if we can help you! Get your first paper with 15% OFF Learn More The two authors play a great role in shaping the understanding of life and human aspects in the current world through their deeply thought out work. The society nowadays is able to relate positively with each other and embrace every other person’s efforts, complexities and perspective of opinions. This understanding and the embracing of one another or rather the democracy being enjoyed today’s should be credited to these two writers. They are role models whose work deserves appreciation. Works Cited Fuller, Margaret. The Great Lawsuit. The Norton Anthology of American Literature. New York: W. W. Norton and Co., 2003. 1620-1654. Stacy, Jason. Walt Whitman’s Multitudes: Labor Reform and Persona in Whitman’s Journalism and the First Leaves of Grass, 1840-1855. New York: Peter Lang Publishing, 2008. This essay on The Great Lawsuit by Margaret Fuller and The Leaves of Grass by Walt Whitman was written and submitted by user Chace F. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Performance Management †HR

Performance Management – HR Free Online Research Papers Performance Management Abstract The paper seeks to show that Effective Performance Management has become the core of Human Resources and is revitalizing, reenergizing and rejuvenating HR. The challenges faced by the present day organization are broadly discussed under the effectiveness of its performance management systems, which ultimately acts as a catalyst for employee engagements and their effective performance. This paper explores through its findings a new performance management system for improving overall organizational performance in general, through inventing new dimension for effective individual performances in specific. A framework is developed for the implementation of effective performance management in any organization. This paper is explicitly directed towards various parameters for energising human resources and serves interesting food for thought for the future managers dealing with performance management. Introduction Performance management, as pertaining to human resource management (HRM), is the process of delivering sustained success to organizations’ by improving capabilities of individuals and teams. It supports the philosophical principle that people and not capital provide organizations’ with a competitive advantage. However, performance management presents severe challenges in terms of practical implementation. Previous studies have largely failed to overcome many of the organizational constraints on its successful implementation. Overcoming barriers to change is especially important given their close relationship to the fulfilment of the psychological contract and related HRM systems (reward, development, etc.). The psychological contract construct consists of the existence of a â€Å"soft† set of expectations held by the employee, which have to be organized and managed. Within the relationship defined by these constructs, the employer and the employee inform, negotia te, monitor and then re-negotiate (or exit) the employment relationship. Thus, if the employee feels that a performance management approach breaches or violates their psychological contract expectations this can lead to an irrevocable breakdown in the employment relationship. Careful implementation of performance tools is therefore crucial to their success as contributors to organizational development. Performance Management as a core of HR Performance appraisals, performance reviews, appraisal forms; whatever we want to call them, let’s call them gone. As a standalone, a performance appraisal is universally disliked, after all how many people in any organization want to hear that they were less than perfect last year or how many managers want to face the argument and diminish morale that can result from the performance appraisal process. If the true goal of the performance appraisal is employee development and organizational improvement, we consider moving to effective performance management system. There has been a paradigm shift in the focus of HR from the early days where craftspeople organized guilds using unity to improve working conditions. Companies in today’s era focus on performance of employees which in turn helps the organization’s performance. No doubt that effective performance management has become a core of HR. Performance management to support organizational change The ultimate competitive asset of any organization is its people, thus organizations should develop employee competencies in a manner aligned with the organization’s business goals. This can be achieved through performance management systems, which act as both behavioural change tool and enabler of performance management system improved organizational performance through being instrumental in driving change. This can then be institutionalized through organizational policies, systems and structures. Performance management aims to emphasize and encourage desired and valued behaviours, thus is a key tool of communication and motivation within organizations seeking a competitive edge through strategic change and control. A visionary performance management then becomes a system for translating organizational intention and ambition into action and results, delivering a strategic goal, such as behavioural change. The system also brings focus to organisational change and development, particularly regarding competencies. When competency profiles support company goals, they become instrumental in developing the human resources necessary to deliver business goals. As a result, performance management system is an important tool for communicating priorities and for providing feedback to stimulate employees to meet the new expectations. Role and importance of effective performance management system Changing individual employee behaviour lies at the heart of organizational change programmes. This is because they ignore or violate established change psychology principles. Senior management can assume that because they are ready to pro-actively embrace change, their employees will be equally pro-active. However, imposing action on employees who are not prepared results in conflict. Typically, only 20 percent of employees in organizations are prepared to take positive action in response to change initiatives. More than 70 percent of new strategic initiatives fail for this reason.4 Thus, to be successful in shaping behaviour, performance management systems must achieve acceptance by those being â€Å"managed†. Modern organizations need to respond more effectively to changing external and internal environments, and organizational learning has become an important strategic focus. By anticipating and responding to changes in the environment through proactive learning interventions, some organizations are evolving into learning organizations. Nonetheless, the question of how to best transform behaviours through organizational learning and development remains. In reality, many change initiatives fail because either organizational culture is not ready to change at that time, or because they do not anticipate the impact of change on human systems. Initiatives in the latter category typically result in resistance and ultimately failure of the change initiative. As mentioned earlier, one method that organizations can use to affect employee competencies in a manner aligned with the organization’s change is to develop robust performance management systems. Analysis of performance management in terms of key result area KRA’s refer to general areas of outcomes or outputs for which a role is responsible. The KRA’s should be clearly defined. Once, the KRA’s are defined the individual can chart a process to achieve the KRA’s. KRA’s are also known as Key Work Output’s (KWO’s). An effective performance management system can facilitate change and innovation by both demonstrating their relationship with the overall strategy, and by supporting and monitoring the progress towards achieving the ultimate goal. It is therefore a crucially important tool for communicating priorities and for providing feedback on employees’ contributions towards achieving organizational goals. The purpose of the performance management system is to ensure that the work performed by employees is in accordance with the established objectives of the company. Employees should have a clear understanding of the quality and quantity of work expected from them and simultaneously receives ongoing information about how effectively they are standing as to the standards/benchmarks. Opportunities for employee development are identified and employee performance that does not meet standards is appropriately addressed. Moreover an operative performance management system consists of a process for communicating employee performance expectations, maintaining performance management dialogues and conducting annual performance appraisals. It is a procedure for encouraging and facilitating employee development and resolving performance pay disputes. Performance management system serves a strategic purpose because they help link employee activities with the organization’s mission and goals. It serves as a basis for employment decisions to promote outstanding performers, to train, transfer or discipline others, and to award merit increases. Data regarding employee performance can serve as criteria in HR research. They can help establish objectives for training programs. Finally, performance management system allows organizations to keep proper records to document HR decisions and legal requirements. A research conducted on BSE listed companies revealed the four key result areas that are critical for any performance management system and how each of these areas which has a number of dimensions, can be measured by key performance indicators. The four key result areas are as follows: I. Developing external relationship: The PMS should consider the three key performance indicators while considering employee performance to achieve the KRA of developing external relationship: firstly, contractual agreements i.e. managing policy and procedures for agreements which are implemented and reviewed annually and handling major research contracts renewed with stakeholders. Secondly, to create new strategic alliances such as its success can be measured by reviewing annually the number of competitor or collaborator analysis undertaken and new collaborations established and developed and finally to develop lines of communication such as quarterly reviewing, the visits made by the shareholders and information about research and education activities provided to stakeholders in written and electronic format. Communicating this Idea to employees and evaluating their commitment levels through structured parameters will help in achieving organisational objective. II. Building organisational capabilities: Similarly, PMS has to also consider dimensions such as to attract and retain the right people i.e. to review annually so as to identify and resolve gaps in the performance of the leaders and provide and implement strategic, analysis based advice performance management system for all staffs. Secondly, the system fosters a value driven culture which includes code of conduct developed around share values, rewarding employees and implementing a recognition system to reinforce culture. Finally, it creates a supportive structure and systems which includes implementation of most effective organisational structure, reviewing annually the policies, systems and procedural documented. This KRA will finally contribute towards enhancing skill based performance for quality work. III. Taking a selective and focussed approach: The PMS should check the employee’s work focus which can be measured by reviewing annually the service level agreements and how these agreements are benefiting the key stakeholders. In the light of this KRA the employees are able to meet up to the expectations of their job description and accordingly see and evaluate their respective performances as a transparent system. IV. Maintaining quality research, service and education output: The last key area helps to ensure relevance to the organisation’s mission by consistent work with strategic direction and available skills. Performance management can be measured through milestones achieved. Also, it measures work impact which can in turn be measured through new knowledge that is being published or presented, identification of changes to policies or practices and finally customer satisfaction which can be measured with the help of surveys conducted. This will contribute towards managing talent in the organisation and exploring opportunities for potential employees and also for succession planning. BARRIERS TO IMPLEMENTING EFFECTIVE PERFORMANCE MANAGEMENT SYSTEMS7:- 1. Organizational Barriers – Variations in performance within systems may be due to common causes or special causes. Common causes are faults that are built into the system due to prior decisions, defects in materials, flaws in the design of the system, or some other managerial shortcoming. Special causes are those attributable to a particular event, a particular operator, or a subgroup within the system. 2. Political Barriers – Political considerations are organizational facts of life. Appraisals take place in an organisational environment that is anything but completely rational, straight-forward, or dispassionate. It appears that achieving accuracy in appraisal is less important to managers than motivating and rewarding their subordinates. Many managers will not allow excessively accurate ratings to cause problems for themselves. 3. Interpersonal Barriers – Interpersonal barriers also may hinder the performance management process. Because of a lack of communication, employees may think they are being judged according to one set of standards when their superiors actually use different ones. Furthermore, supervisors often delay or resist making face-to-face appraisals. Rather than confronting substandard performers with low ratings, negative feed-back, and below-average salary increases, supervisors often find it easier to â€Å"damn with faint praise† by giving average or above-average salary ratings to inferior performers. Performance Managers Performance managers can improve on a performance measurement system, as objectively as possible, upon discussion with the line managers. They need to clearly define the role for each position in the organisation, and communicate the positions to the new entrants respectively. They may formulate a reward system that is in tune with industry standards, and companys retention and performance strategy, and take local and overseas opportunities as factors of consideration. As facilitators of training and development activities, they may identify their teams’ individual training needs which may involve technological, behavioural or cross-cultural contents. As career counsellors, they may develop different career paths technical or managerial, and attempt to satisfy the needs of the employees. â€Å"The Indian IT industry has set an exceptionally high standard with regard to workplace and employee practices. With the continued growth and rapid evolution of the industry, as well as the changing aspirations of its young workforce, IT companies small or large will have to constantly look at innovation to excel as employers,† said Kiran Karnik, president, Nasscom, in a statement. Small and medium-sized IT and business outsourcing companies are constantly looking at adopting best practices such as innovative performance appraisal system, individual career development programmes and recreational activities, to make themselves more attractive to employees in a fiercely competitive market, says a survey on exciting emerging companies in India conducted by the National Association of Software and Services Companies (Nasscom). At the BPO company, which has seen its attrition rate coming down to 8% from 28% last year, employees are encouraged to post their feedback anonymously, which is taken up by teams that can address it the best. By creatively designing the total reward package towards more short-term incentives and benefits, and linking the package to performance, companies can ensure that they get higher productivity without hefty increases in salary costs and minimise attrition costs at the same time. The general parameters for the measurement of employees’ performance in BPO’s are: Speed i.e. process performance, Accuracy and Productivity of each process, Although the measuring parameters are different for employees at different level, but the general classification of the above mentioned parameters for â€Å"Customer care Executives† and â€Å"Team leaders† are as follows: Average Call Value (the sales made or the revenue collected etc.) Time and cost per call Average Handling Time (talk time and after call wrap up) Adherence to Schedule (availability to take calls etc.) Percentage of abandoned calls Discipline Attendance According to a recent survey – â€Å"The Pay for Performance can be as much as 22% of the salary.† Thus, good performance is highly rated in the IT and BPO industry. Recommendations for effective performance management:- 1) Senior management should show commitment – The process of performance management within the company lacks participation and benefits none without active senior management support and leadership. 2) Employee resistance should be kept minimal – PMS is made for aligning the goals of employee and the organization, thus, effective performance management system is only going to be effective when employees understand the importance of performance management system in their own careers. 3) Training infrastructure and capacity building programs – Surprisingly, given the level of resources provided for the rollout of the new performance management system, employees at every level of the organization appear to lack the necessary knowledge and skills required for their particular contribution to the system. 4) Benchmarking – Effective performance management can only be sustained when the performances are compared with the standards set in the organization and as this is done on a continuous basis, this leads to improvement of performance and brings it closer to the benchmark set by the organization. 5) 3rd axis measurement – If performance is to be measured on a two axis system, organizational goals and employee performance for these goals respectively, then a 3rd axis also needs to be measured which is employee’s personal goals, because then only performance can be measured in true terms. Conclusion: We conclude the research by stressing effective performance management is a key tool of communication and motivation within organizations seeking a competitive edge through strategic change and control. The framework for performance management system design has its core element as improving individual performance in accordance with the organization’s performance, keeping in mind employee’s personal goals. Overcoming barriers to change through winning the psychological battle of employee involvement by effective performance and evaluating parameters has become the need of the hour. The KRA’s that determine the effectiveness of a PMS are, Developing external relationship Communicating this Idea to employees and evaluating their commitment levels through structured parameters will help in achieving organisational objective. Building organisational capabilities This KRA contributes in enhancing skill based performance for quality work. Taking a selective and focussed approach and maintaining quality research – This KRA provides a transparent system for evaluation of employee performance in terms of job description. Service and education output – This KRA contributes in managing talent in the organization. The afore said KRAs as discussed in full length are only suggestive in nature .The final implementation may be based on some primary research over the aforesaid parameters so that its contribution may ultimately result into epitomizing performance for establishing a cognitive environment. References:- 1. think.exist.com 2. Mei-I Cheng De Montfort University, Implementing a new performance management system within a project-based organization -A case study. 3. about.com/humanresources. 4. trackers.in 6. Wayne F. Cascio and Herman Aguinis, Applied Psychology in Human Resources Management – sixth edition/ (CH-5) P-85 7. ibm.com/services/strategy/industries/chemicals. 8. pwc.com/ng/PwC Nigeria – HRS brochure. Research Papers on Performance Management - HRThe Project Managment Office SystemOpen Architechture a white paperIncorporating Risk and Uncertainty Factor in CapitalBionic Assembly System: A New Concept of SelfAnalysis of Ebay Expanding into AsiaDefinition of Export QuotasPETSTEL analysis of IndiaStandardized TestingComparison: Letter from Birmingham and CritoMarketing of Lifeboy Soap A Unilever Product

History Day - Primary and Secondary Sources

History Day - Primary and Secondary Sources When studying and learning about history, we must always be questioning the quality of our sources. Who wrote this?How do they know the information they are telling me?When did they write it?Why did they write it?Who did they write it for? These are good questions to ask yourself about every book you read. We should never believe everything we read; you should question everything. Is it inherently impossible for an author to leave out some sort of bias. It is your responsibility to determine their bias and to reflect on how it affected their work. Now Im sure youre wondering why Ive told you all this before I explain the differences between primary and secondary sources. I promise, there is a reason. For every source you use, you will need to think of the questions above to determine which category they fit into - primary or secondary - and how much you can trust what they say. Primary Sources Primary sources are informational sources from the time of the event. Examples of primary sources: AutobiographiesDiariesDocumentsEyewitness accountsFilm footageLawsLettersNewspaper articlesNovelsObjects from the timeOral historiesPhotographsPoems, art, musicSpeeches Secondary Sources Secondary sources are informational sources that analyze the event. These sources often use several primary sources and compile the information. Examples of secondary sources: BiographiesEncyclopediasHistory booksTextbooks More Hints, Help, and Informational Tidbits Overview of History DayDo you have a good topic?How do you make an annotated bibliography?

Security Solutions for MANETs (mobile ad-hoc networks) including the Research Paper

Security Solutions for MANETs (mobile ad-hoc networks) including the development of IDS - Research Paper Example Moreover, these diverse issues obviously formulate a situation for developing multi-fence safety answers that attain both wide security as well as enviable network performance (Yang, Luo, Ye, lLu, & Zhang, 2004) and (Nash, 2000). This paper presents a comprehensive analysis mobile ad hoc security issues and offers security solutions for MANETs (mobile ad-hoc networks) including the development of IDS (Intrusion Detections System). This paper is aimed at assessing some of the main aspects of the MANETs (mobile ad-hoc networks) technology and possible security issues. This paper also suggests state-of-the-art security solutions in addition to mitigation actions those can be adopted to formulate better security of wireless communication systems. Introduction As the significance of network and computer communication technologies in our everyday life augments it as well poses new requirements for connectivity. However, the traditional wired technology and communication solutions have been there for an extensive era but there is increasing need of operational and working wireless systems and solutions in all the areas of life such as study, using internet, sending E-mail messages, altering data and information in a convention and so on. However, there exist diverse solutions regarding technology systems to fulfill these requirements. In this scenario, solution could be wireless LAN that is designed on the basis of IEEE 802.11 standard.. On the other hand, there is increasing need or demand for connectivity in circumstances where there is no backbone link or else base station accessible, for instance when two or additional Personal Digital Assistants require to be linked (Rashmi, 2008). MANETs (Mobile ad hoc networks) have intrinsically come up with diverse characteristics as compared to the conventional wired arrangement. However, mobile ad hoc networks have attained considerably growing attention, somewhat due to the possible establishment of the Mobile ad hoc networks to countless purposes. On the other hand, network security is still a vital issue in a mobile ad hoc network which is one of its fundamental weaknesses (Jangra, Goel, Priyanka, & Bhatia, 2010). Mobile ad hoc networks can be established at any place without some particular need for outside arrangement (similar to base stations or wires). Since they are frequently mobile and that is why a term ‘mobile ad hoc networks’ is frequently employed when talking on the subject of Ad-hoc networks. Moreover, mobile ad hoc networks are frequently expressed as a self-governing system of mobile routers (as well as linked terminals) which are connected to each other through wireless connection, the merger of that shapes a casual chart. In this scenario, th e network’s routers can be moved randomly and standardize themselves impartially; as a result,

Commercial bank of kuwait (CBK) Essay Example | Topics and Well Written Essays - 1000 words

Commercial bank of kuwait (CBK) - Essay Example Characteristics of the industry in which the bank operates Commercial Bank of Kuwait operates in the Kuwait’s banking industries whose environmental features are identifiable. The industry is one of the strongest in the region and this identifies positive prospects such as sustainability and a business’ profit making interests. The industry is also free from unfavorable competition from international financial institutions. It comprises of about ten local banks and nine foreign banks, a number that identifies oligopolistic market. This means that the market players have significant potentials to dictate market factors but competitors can at the same time use such powers to gain competitive advantage over the firm. This further identifies banks’ fears of customer manipulation and leads to significant level of stability in the industry. The industry is also in its developmental stage in which competition is increasing as each bank seeks to expand its market control . Developments in the industry also identify diversification into new products and application of technology for developing new products as well as for efficiency. Innovation has been another characteristic feature of the industry and is a factor to increased level of competition. Favorable political environment has also been reported within the industry with policies that support commercial banks’ stability and operations. The policies indicate stability of the industry, regardless of possible entry by more foreign banks, because of the government policies that focuses on protecting the industry. Further, the minimal market size helps in protecting the industry from further venture by foreign banks because of risks of failing to reach breakeven points by new entrants and the country’s small population explains this (Capital Standards 1). The Industry however faces risks from volatility in two industries that are significant to its sustainability. The industriesâ€℠¢ dynamism affects performance and profitability of the banking industry that is also susceptible to threats of concentration. The role of Islamic banking that is gaining momentum in the country is another threat to the banking industry because of its ability to reduce the market base. Islamic banking is a significant threat because of the country’s dominant faith that is likely to induce bias towards the religious banks (Capital Standards 1). The Kuwait’s banking industry is also susceptible to global economic factors as global recession was witnessed during the global recession in the year 2009. Other significant sectors to the banking industry such as the construction sectors are also susceptible to the global economy and affect banks’ conditions. The industry’s financial indicators such as gross loans and non-performing loans also offer a basis for its analysis. Amount of gross loans has been increasing and this indicates increasing demand for financi al services. Increasing trend in nonperforming loans in the industry also indicates increasing advanced services to customers that culminates to increased defaults and threats of defaults. The increasing volume on non-performing loans is however, a threat to the industry as defaults constrains liquidity. Policies to improved asset quality have however promised to reduce the threats of growing volume of nonperforming loans with positive results being reported in the year 2010. The industry also relies on low cost deposits as sources

Great Political Leaders of the Twentieth Century :: World History

Great Political Leaders of the Twentieth Century The history of the 20th century can be defined by the biographies of six men: Franklin Delano Roosevelt, Winston Churchill, Vladimir Lenin, Adolf Hitler, Mao Tse Tung, and Josef Stalin. Each of these men had a lasting significant involvement in world affairs. This essay will focus on the significance each individual had on the ideologies of Democracy and Totalitarianism. Four of the six individuals were leaders of a totalitarianistic state, and three of these led a communist country. Also four of the six leaders were in power during the Second World War. The profiles of these six men formed the world that we live in today. Vladimir Illich Lenin was the first individual to put Marxist ideologies to work. In April 1917 Lenin returned to Russia from his exile in Switzerland to give his 'April Theses.' It was here that Lenin outlined how his revolution was to take place, the Bolshevik Revolution began on November 6 1917. Within a week the Bolsheviks were in control of most of European Russia, and immediately Lenin ordered that the Russians abandon the war against Germany. After abandoning her allies in World War One the Russians were hurled into a civil war. It is here that we first see the ideologies of Totalitarianism and Democracy clash. The democracies of Britain, France, and the United States all sent troops to Russia in the support of the 'Whites,' or enemies of the Bolsheviks. Lenin took the poor country of Russia and turned it into the Union of Soviet Socialist Republics or U.S.S.R. Through his policies of War Communism and its replacement the NEP Lenin was able to stand the newly formed U.S.S.R. o n its own two feet. One of Lenin's ideas was 'International Socialism,' it was under this idea that he set up the Comintern with the purpose of spreading communism throughout the world. His successor, Josef Stalin took a different approach in his ideas of 'Socialism in one country." Josef Stalin led the U.S.S.R. from the death of Lenin to his own in 1953. Stalin led the Soviets through the betrayal of the Germans in the Nazi-Soviet Pact, he turned back the Nazis on the Eastern front, and brought the U.S.S.R. out of the Second World War as one of the only two superpowers in the world. After the end of the World War Two Stalin spread the Soviet sphere of influence to include East Germany, Bulgaria, Hungary, Alabania, Poland, and Czechoslovakia.

Carnival Case Issues

SPRING 2013 – GLOBAL STRATEGY AND POLICY MAN4720009_2013S_11202: , Schwartz: Tuesday and Thursday 9:30 to 10:50 AM – LA 331 GLOBAL STRATEGY AND POLICY MAN4720009_2013S_11202 Spring, 2013 Prepared for Professor Harry Schwartz, March 14, 2013 by the following students: Robert OndercikZ8384Finance Ron AbrahamZ4458Accounting Jenna FranzoneZ3483Business Management Tabitha Palmisano Z0857Marketing Jeffrey VonZ7035Accounting Aaron SchneiderZ0653Business Management Sabine BorgesZ7510Accounting 1. Current Situation: CRITICAL CASE ISSUES Human Relations (CI #1) Employee and Labor LawsuitsEmployees of Carnival are claiming unfair working conditions with poor compensation. (CI #2) Succession Mr. Arison stepping down in the future, who will run company, third generation Arison or someone else. Operation/Logistics (CI #3) The Costa Concordia Cruise Ship lawsuit Cruise ship laying on side, environmental risk, and lawsuits from crash. (CI #4) The Carnival Triumph dead at Gulf of Mexico Pending lawsuits from this event, leading to more negative publicity (CI #5) US Corporate Tax Congress continues to try to charge Corporate taxes on Carnival, but has failed recently. This could change soon. Marketing CI #6) Serving on 20 % of Americans It becomes expensive for customers to get to ports to cruise, discouraging some customers from cruising. Carnival Corporation & plc is currently the largest cruise company in the world and is among the most profitable and financially strong leisure travel companies in the world. Carnival Corporation & PLC’s portfolio of cruise brands in North America, Europe, Australia and Asia are comprised of Carnival Cruise Lines, Holland America Line, Princess Cruises, Seabourn, AIDA Cruises, Costa Cruises, Cunard, Ibero Cruises, P&O Cruises (Australia) and P&O Cruises (UK).Collected, these brands operate 100 ships totaling 203,000 lower berths with nine new ships scheduled to be delivered between March 2013 and March 2016. Carnival Corpo ration & PLC is the only group in the world to be included in both the S&P 500 and the FTSE 100 indices. A. CURRENT PERFORMANCE Carnival reported net income for the year 2012 decreased to $1. 3 billion compared to $1. 9 billion for the prior year due primarily to a combination of lower revenues and higher fuel prices.Revenues declined $410 million primarily as a result of the Costa Concordia incident. Net revenue yields declined 2. 5 percent due primarily to lower cruise ticket prices and occupancies for the Costa brand. Excluding Costa, Carnival was able to maintain year 2012 net revenue yields in line with the prior year. Even with the many challenges faced in 2012, Carnival generated $3 billion of cash from operations, more than enough to fund our net capital investments of $1. 8 billion.All of the subsequent free cash flow was then returned to shareholders. Carnivals regular quarterly dividend of $0. 25 per share, combined with a special year-end dividend of $0. 50 per share, re sulted in $1. 2 billion of distributions to their shareholders. Carnival also purchased 2. 6 million of the company’s shares in the open market at a cost of $90 million during 2012. B. STRATEGIC POSTURE * Carnival remains dedicated to profitably growing our cruise business and driving returns on capital higher. Carnival will continue to increase their fleet through a measured pace of two to three new ship introductions each year. Some of these vessels are expected to replace existing capacity from the possible sales of older, less-efficient ships * Currently, Carnival has nine cruise ships scheduled for delivery through March 2016. * In addition, Carnival is focused on the growth of developing cruise regions. During the previous five years, Carnival has doubled their guest sourcing from up-and-coming markets, a trend Carnival expects will continue in the future. CI #6) * Carnival and its Operating Lines place the uppermost importance on guest health, safety and security. Carn ivals objective is to maintain an exceptional health, safety and security record. As well as constantly strive to better our health, safety and security standards and procedures. (CI #3 and 4) 1. Mission â€Å"Carnival Corporation & plc mission is to take the world on vacation and deliver exceptional experiences that appeal to a large variety of consumers, all at an outstanding value. † 2. ObjectivesTo our stakeholders, this mean: Consumers | Take the world on vacation and deliver exceptional experiences that appeal to a large variety of consumers, all at an outstanding value| Employees | Recruiting and Retaining Qualified Employees. Carnival considers their employee and union relations generally to be good| Business Partners | Carnival shall communicate with our business partners frequently to ensure that we receive high-quality products and services and that our ships receive the goods and services that they need to operate sustainably. Shareholders| The strength of their p eople, values, culture and mission has driven superior returns for their shareholders. A dollar invested in Carnival stock 25 years ago would be worth 19 times that today, representing a total return almost twice that of the S&P 500 over the same period. | Communities | Carnival strives each and every year to make a difference in their homeports and various regions around the world in need.During the past year Carnival Corporation & plc gave nearly $10 million to charitable organizations, including a $2 million donation to support Hurricane Sandy relief efforts. | 3. Strategies * Carnival now has its ships in ports that are within reasonable driving range for a good portion of the country. Galveston, San Diego, Mobile, New Orleans, Charleston, Baltimore and New York all have Carnival ships sailing from their ports, making it cheaper and easier for more Americans to cruise. CI #6) * Identify those managers responsible for implementing health, environmental, safety and security perfor mance and ensure that there are clear lines of accountability. (CI #3 and 4) * Promptly report and properly investigate all incident and take appropriate action to prevent recurrence (CI #3 and 4) * Establish and act upon goals and objectives to continually improve our performance * Continue to publicly report to and maintain open dialogue and cooperation with key stakeholders (CI #3 and 4) * Carnival operates Under Section 883 of the Internal Revenue Code; certain non-U.S. corporations (such as our North American cruise ship businesses) are not subject to U. S. federal income tax or branch profits tax on U. S. source income derived from, or incidental to, the international operation of a ship or ships. (CI #5) * Since defueling on Costa Concordia began until 7 a. m. Feb. 17, a total of 251,492 gallons of fuel have been pumped out of 4 tanks located on the ship. (CI #3) * According to Costa Cruise, a total of 377,237 gallons of fuel is still onboard in 13 tanks.Following the schedul e drawn up by the Neri/Smit Salvage experts, if sea and weather conditions remain favorable, all of the fuel still on board the vessel should be removed within three weeks. (CI #3) * Carnival has several defined contribution plans available to most of their employees. Carnival also has single-employer defined benefit pension plans, which cover some of their shipboard and shore side employees. (CI #1) 4. Policies Protecting the health, safety and security of Carnivals passengers, guests, employees and all others working on behalf of the Company * Protecting the environment, including the marine environment in which Carnivals vessels sail and the communities in which we operate * Continue to follow Carnivals Corporate Standards which go considerably beyond the requirements of current environmental law and regulations. * Carnival is primarily a foreign corporations engaged in the business of operating cruise ships in international transportation. (CI #5) Key Executives:Mickey Arison: C hairman and CEO of Carnival Corporations David Bernstein: CFO and senior Vice President of Carnival Corporations Howard S. Frank: Vice Chairman and Chief operating officer Alan B. Buckelew: CEO and President of Princess cruises Gerald R. Cahill: CEO and President of Carnival Cruise lines Larry Freedman: Chief Accounting Officer and Vice President-Controller Michael Thamm: CEO of Costa Crociere, S. p. A. Arnaldo Perez: Senior Vice President, General Counsel and Secretary Stein Kruse: President and CEO of Holland America Line David Dingle: CEO of Carnival UKMichael Ungerer: President of AIDA Cruises Board Members: Mickey Arison: (Internal) President since 1979 and CEO since 1990 Howard Frank: (Internal) Vice Chairman of the board of directors of Carnival Corporations since 1993, and Chief Operating Officer since 2003. Pier Foschi: (Internal) on the board of directors for Carnival Corporation since 2003. Chairman and CEO of costa crociene SpA. A vice chairman of confitama, the federati on of Italian ship owners. Robert Dickinson: (Internal) Director of Carnival Corporation since 1987 and of carnival plc. since 2003.He served as president from 1993-2007 and CEO of Carnival cruise lines from 2003-2007. Jonathon Band: (External) Director of Carnival Corporation and Carnival plc. Since 2010. Stuart Subotnick: (External) Director of Carnival Corporation since 1987 and of carnival plc. Since 2003. Richard Glasier: (External) Director at carnival corporation and carnival plc. since 2004. From 1995-2002 he was executive vice president and CFO of royal Caribbean cruises. Arnold Donald: (External) Director of carnival corporation since 2001 and a director of carnival plc. ince 2003. Modesto Maidique Ph. D: (External) Director of Carnival Corporation since 1994 and of carnival plc. since 2003. He also served as FIUs president from 1986-2009. John Parker: (External) Director of Carnival Corporation since 2003 and of Carnival plc. since 2000. He served as Deputy Chairman of Ca rnival plc. from 2002-2003 Laura Weil: (External) Director of Carnival Corporation and carnival plc. since 2007 Peter Ratcliffe: (External) Director of Carnival Corporation since 2003 and director of Carnival plc. since 2000. 003 to 2007 he served as the CEO of P&O Princess cruises. Randall Weisenburger: (External) Director of Carnival Corporation and Carnival plc. since 2007 Debra Kelly- Ennis: (External) Elected to the committee of the carnival Corporation and carnival plc. in January 2012. Conflicts of Interest: Richard Glasier was once the CEO of Argosy gaming and although no longer the CEO he still is a chairman and major shareholder of the company. Argosy gaming mostly deals with casinos but also operates riverboat gambling cruises.There is a definite conflict of interest because he is not only concerned with the success of Carnival Corporation but also Argosy gaming success as well. Even though he is not the CEO anymore he still converses with the top management of Argosy and is up to date about what’s going on within the company as well as knowing about what’s going on in Carnival too. This means he might have information on the companies such as release dates for new ships or new specials that he cannot share with the board members of the other company and if he did it would be ethically wrong.Therein lies the conflict of interest, if he was not on both board then there would be no conflict. Being on both boards is a conflict of interest because he is not only concerned with the success of Carnival but also Argosy gaming as well. Since 2010, Start Subotnick has been the president and CEO of Metromedia. Metromedia is a holding company that has many subsidiaries that operate in various activities such as restaurants, internet, software technology, and more. The main conflict of interest for Subotnick is that Metromedia develops software for the hospitality industry.Since Carnival uses hospitality software to perform most tasks such as when you get checked at the port to the server on the cruise ship placing your dinner order, it would be in Subotnicks best interest to try to get Carnival to use Metromedia’s software. This is a conflict of interest because it might not be what’s best for the Carnival but it what’s best for Metromedia. Mickey Arison: Mickey Arison, CEO and chairman of Carnival Corporation is #64 on Forbes billionaire list in the United States. His father ted Arison founded carnival cruises in 1972. Mickey started working for the company in sales.He quickly moved up the ranks not just because of who his father was but because he was hard working and had great ideas. In 1979 he became president and finally in 1990 he became the CEO and he currently still holds that position. He turned carnival into what it is today, which is the world’s largest and most successful cruise ship company. Mickey said the best lessoned he learned from his father was to â€Å"hire good people to ru n your businesses, give them the support they need to be successful, and let them do the job you hired them to do. He is known for his â€Å"hands-on† or â€Å"open door management style. He lets his employees’ do their own thing because he knows that they will do it right and he doesn’t have to be watching over them in order for things to get done because he hired the right people. Micky Arison goes above and beyond what a manager does. He is to say the least a competent manager. His company has been the most successful and recognizable cruise line in the world for over two decades. Arison learned the basics of the company from the bottom so he could really understand the company and make better decision for the company as a whole down the road.He directed his company to make many acquisitions, including their most important, the acquisition of the P&O princess cruises. Royal Caribbean also wanted to acquire the line so it was not an easy fight. Luckily for Ar ison they got it and with the acquisition it made them a clear industry leader. David Bernstein: David Bernstein Started with carnival in 2003 as vice president and treasurer. He was then promoted in 2007 to senior vice president and CFO. AS CFO and VP of carnival he overlooks all finance, treasury, insurance, accounting, tax, and investor relations. Howard Frank:Howard frank has been Vice Chairman of the board of directors of Carnival Corporations since 1993, and Chief Operating Officer since 2003. He is responsible for the corporate-wide business strategies. He works closely with all carnival corporation management, especially with Mickey Arison. He provides oversight to Mr. Arison of the companies many worldwide ventures. He also serves as a chairman of the executive committee of the cruise line international association. (CLIA) Partnership Management: Based on the information gathered the Carnival Corporation shows a partnership management model. They have many characteristics o f this model. There is a high degree of involvement by top management and an equally high degree of involvement from its board members especially since their CEO is also their chairman and they also have a few other top guys on the board. * This enables the top management and board members’ to work more closely with each other to develop strategies and to converse on a daily basis about the many things going on in the company. * Howard frank who is the vice chairman of the board is known for working closely with all management of Carnival Corporation& plc, As well as with Micky Arison himself, the CEO and chairman of carnival.When disaster strikes the company’s senior management team and board members take on the responsibility for what’s going on and work together to come up with the best strategy to fix the problem. * Also the board creates committees by matching certain members’ functions to their expertise. For instance, David Bernstein was promoted t o senior vice president and Chief financial officer in 2007 because of his expertise in finances. He was the CFO of Cunard line and Seabourn cruise line for five years and before that he held various financial positions at royal Caribbean for seven years. Carnivals board consists of 15 members. 3-A. External Environment: Opportunities and Threats A. Natural Physical Environment: Sustainability Issues 1A. Opportunities a. The climate could be a benefactor since nice weather usually attracts tourism and cruising. 1B. Threats a. When the weather is not pleasant on the coasts of the United States, there may be a negative impact on the number of cruise ships sailing since the shipping ports are located in these areas. For example, during the hurricane season, cruises along the Atlantic and Gulf coast do not set sail due to danger the storm may bring. . The weather in places like Europe, is not as threatening when it comes down to storms compared to the United States. This lessens the deg ree of one threat in the European market for Carnival cruise lines. B. SOCIAL ENVIRONMENT 1. Opportunities Economic: * | Potentially expand their luxury liners which can cause an increase in revenue. (CI#2)| * | Increase their capacity of their cruises by 30-40%. (CI#2) | * | Offer more travel destinations that they currently do not offer, such as China, India, and various countries in South America (CI#2) | Technological: | Improvement of the technology on the cruise. | * | Working on their home web page since millions of people visit this site daily. They can improve their format so that it would be better understood and easier to navigate by people in foreign countries. | * | Using more technological machines for the cleaning staff; for example, to check off each room that was cleaned or is in need for something, such as towels, toiletries, blankets, etc. (C#1)| Political-legal: * | Avoiding paying some of the taxes that other companies in the same industry pay for. CI#5)Ship was te disposal is highly unregulated; waste is dumped off shore without any consequences from a legal point of view. (CI#5)| Sociocultural: * | The diversity of customers that are traveling with Carnival Cruise Lines for their vacation get-away is very large. (#CI2)| * | Brand name is well known among the society. | * | Reached an agreement with Italy's Fincantieri shipyard to build a 2,660-passenger vessel for Holland America and a 4,000-passenger vessel for Carnival. Ships should be delivered by 2015. This will generate more revenue in the future. CI#2)Some people take a cruise with carnival just to gamble in the casino because some states do not have any casinos at all. | 2. Threats Economic: * | Prices of fuel constantly increase. (CI#6)| * | One of the biggest weaknesses that the company and the industry itself are facing is hurricanes and bad weather during specific seasons. Revenues go down, refunds go up. | Technological: * | Technological problems on-board which can be a big t hreat for Carnival. For example, the latest incidence was last month. Carnival ship was stuck at sea for almost a week because of technological mishaps.This caused many lawsuits, refunds, and a bad reputation for the brand. (CI#1)| | | Political-legal: * | Progressive accumulation in water waste caused the cruise line to pay millions in fines. | * | More regulators are trying to force Carnival and other cruise line companies to pay more taxes. (CI#5)Major law-suits of the sinking Costa Concordia. (CI#3)| | | Sociocultural: * | Seasick; some people can’t take a cruise because they get seasick after a while. People that suffer from this generally do not board lengthy cruises. | * | Most people do not eat at the higher class restaurants because the dining room is complementary.Most passengers are generally not looking to spend more money on a cruise that was already paid for and clearly states that it is â€Å"all inclusive†. (CI#6)| * | For some people cruises can be ver y pricy. (CI#6)| | | 2. Some of these opportunities and threats are different in other parts of the world because of different climate, economical issues, and different regulations. III. Internal Environment: Strengths and Weaknesses A. Corporate structure 1. Carnival Corporation and Carnival plc operate under a dual listed corporation structure with primary stock listings in the United States and the United Kingdom.Carnival corporate structure is based on the concept of â€Å"profit center. † a. The decision making authority is decentralized. b. The corporation is a fleet organization worldwide. For the most part, most of Carnival business runs in North America and Europe. 2. Carnival keeps telling its employees this phrase: â€Å"do one thing and do it better than anyone else†. Well that could sound very promising, but from a personal experience I enjoyed royal Caribbean a lot more than I did with carnival. Whatever the CEO preaches to the employees does not really j ustify the truth.To clarify, Micky Arison the CEO of the company quotes: â€Å"Carnival doesn’t view a cruise the way Procter & Gamble would view toothpaste or Dial would view soap. Each of Carnival’s lines has its own personality and corporate focus. † (CI#2) 3. The current structure of the company is pretty much consistent with all of its objectives, strategies, policies and programs, as shown and seen in their financial report their profit keeps increasing. (CI#2) 4. The structure of Carnival cruise is very similar to the other cruise companies that strive to succeed and make money.B. Corporate culture 1. Carnival Corporation maintains a friendly, family-like atmosphere on all of its ships. I agree to this based on my previous experience on their ships. ( CI#1) 2. In my opinion, the corporate culture is consistent with current situations of objectives, strategies, policies and programs. They have an â€Å"open door† policy where each and every employee can communicate with upper division managers and let their voice to be heard, and the reason for that is to benefit the employee and potentially even benefit the company. CI#1) 3. â€Å"Unique to the cruising industry is its promotion to protect the environment. The core values include preserving the marine environment and, in particular, the pristine condition of the waters upon which our vessels sail. † This statement is posted on the Carnival website and is the biggest flaw that I have noticed with the company. They are constantly polluting the water, dumping trash into the water, and they contribute a great deal to air pollution. Therefore the statement above is not accurate. (CI#4) 4.Carnival employs a variety of different kinds of people from various different cultural backgrounds. Many employees that work for Carnival have different ethnic backgrounds but are all being treated equally(CI#1) 5. The company does take into consideration the value of cultures of each nati on the company operates in. This is shown in the diversity of Carnival employees and their cultural backgrounds from all around the world. (CI#1) 3-B. Corporate Resources – Finance IV. All numbers in millions except for ratios | 2012| | 2011| | 2010| | | Carnival| RC| Carnival| RC| Carnival| RC|Revenues| 15,382| 7,688| 15,793| 7,537| 14,469| 6,753| Operating Income| 1,642| 403| 2,255| 932| 2,347| 803| Net Income| 1,298| 18| 1,912| 607| 1,978| 515| Net Profit Margin| 8. 4%| 0. 2%| 12. 1%| 8. 1%| 13. 7%| 7. 6%| EPS| 1. 67| 0. 08| 2. 42| 2. 80| 2. 47 | 2. 4| OperatingCash Flows| 2,999| 1,382| 3,766| 1,456| 3,818| 1,663| Debt to AssetRatio| 39%| 58%| 38%| 58%| 39%| 60%| V. Financial Analysis The chart above displays a list of relevant figures and ratios for the Carnival Corporation. It is important to highlight that some of these numbers show increasingly negative results each year.If this negative trend continues it would represent a significant problem for the company, as it wo uld become unprofitable. But how does Carnival compare to others in the industry? Two key players dominate the cruise industry. According to a report by Cruise Market Watch, Carnival Corporation controls 48% of the market share, Royal Caribbean controls 23%, while the rest is controlled in small portions by over 30 other companies (Cruise Market Watch). By generating double the revenues of Royal Caribbean, Carnival is clearly the leader in this industry.For the purpose of this section of the paper, we analyzed the financial statements of Carnival Corporation to measure the health of the company. We will also use financial ratios which best allow us to compare Carnival side by side to its smaller but closest competitor, Royal Caribbean. A notable decline can be seen in the operating income. This figure is considered by analysts to be one of the most important on financial statements because it reflects to a great extend the strength of the company and success of its core business ope rations (Kennon).Operating income is arrived at by subtracting operating costs and expenses from gross revenues. It is the profit that is left to invest, expand, pay debt, distribute to shareholders, and achieve other objectives that a company may have (Kennon). For Carnival Corporation, Operating income declined 27% from 2011 to 2012. Let’s see why. Carnival mainly generates its revenue from the sale of cruise tickets and onboard items and services (Carnival). Although revenue has remained stable in the past years, operating income has been declining which indicates that the company is making less and less profit of the revenue it generates.This could be due to several reasons, but in the case of Carnival Corporation, there are two major factors. One is the rising price of fuel. Cruise companies are heavily dependent on fuel and any change in its price has a significant impact on the company’s financials (Carnival). From 2011 to 2012, the carnival’s fuel expens e increased 7% or $188 million. Another factor that has affected profits for the company is accidents. In its annual report for fiscal year ending 2011, Carnival Corporation included a note to its shareholders regarding the tragic event of the Costa Ship (Carnival).It states that the company takes careful measures to prevent accidents such as the Costa cruise incident (Carnival). In the 2012 Income Statement, Carnival Corporation reported $28 million for â€Å"ship incident-related expenses that were not covered by insurance, including a $10 million insurance deductible related to third party personal injury liabilities (Carnival) CI#3. It is safe to expect that in the 2013 financial statements, Carnival Corporation will again report incident expenses not covered by insurance and possibly higher ones due to the â€Å"Triumph† ship incident CI#4.Although Carnival’s decline in operating income is significant, Royal Caribbean’s 56% decline truly is worrying. Even though Royal Caribbean had nothing to do with the Costa ship incident, there were indirect consequences that affected the company. Royal Caribbean had to report a $413. 9 million impairment loss because â€Å"booking volumes and pricing are down substantially in Spain due to the impact of additional austerity measures there, the lingering impact of the Costa Concordia tragedy and other factors†(Royal Caribbean).Now let’s compare the two companies in terms of efficiency generating profit. The profit margin ratio shows how much after-tax profits are generated by each dollar of sales (Kennon). It is a good indicator of how efficiently a company manages its resources and how well it keeps costs under control. Carnival Corporation has an 8% profit margin. In other words, of every dollar that the company receives from sales, only eight cents represent profit. With expenses increasing more than revenues each year, a low profit margin represents another sign of potential unpro fitability.However, taking into consideration Royal Caribbean’s 0. 2% profit margin, which means that they keep much less than a penny for every dollar they sell, Carnival Corporation is performing much better than Royal Caribbean. Off course, there are additional expenses that are not calculated in operating income like interest and tax expenses. It is worth mentioning that carnival corporation currently does not pay any U. S. federal income taxes because it qualifies for the benefits of section 883 of the Internal Revenue Code (Carnival). Section 883 basically states that some non-U.S. corporations that generate income from the operation of ships are not subject to federal income tax in the United States (Carnival). However, the closing of this tax loophole could become a potential threat for Carnival, as it would significantly affect their net income in subsequent years CI #5. Senator Jay Rockefeller of West Virginia confronted representatives of the cruise industry in a h earing last year (Walker). Senator Rockefeller questioned why Carnival, a company that sells to many American and extensively benefits from the resources of forty U. S. ederal agencies, gets to pay no federal income taxes (Walker). Let’s analyze the Debt to Asset ratio, measured with total assets and total liabilities. Carnival Corporation has a 38% Debt to Asset ratio which by itself represents an okay picture. More specifically this means that debt was used to finance 38% of the assets. On the other hand, Royal Caribbean has a 58% debt to asset ratio which indicates that the company may run into problems borrowing more money in the future. For its debt, Carnival paid $336 million in interest in 2012, a healthy amount compared to the $2. 3 billion operating income (Kennon).Operating income divided by interest expense gives us interest coverage ratio, which indicates problems when it is below 1. 5 (Kennon). But carnival has a 4. 8 interest coverage ratio which means that ther e is still room for earnings to decrease before the company would default on bonds and loans for not being able to keep up with interest (Kennon). But will Carnival be able to meet short-term liabilities? The current ratio is short-term indicator of the company’s ability to pay its short-term liabilities from short-term assets; how much of current assets are available to cover current liabilities (Kennon).A healthy current ratio is greater than 2, but for Carnival Corporation’s is only 0. 25 which indicates that meeting current obligation could be a problem for the company (Kennon). But again we see that Royal Caribbean may have a bigger of a problem since their current ratio is only 0. 08. Another important factor to point out from the financial statements is that operating cash flows show a declining trend. From 2011 to 2012, cooperating cash flows declined 20%.What this means is that unless the current trends change, the company may start running out of cash and bec ome unable to fulfill its obligations, which could lead the company into filing for bankruptcy. Interestingly, Royal Caribbean’s cash flows also declined 20%. However, it is worth mentioning that cruise companies have the advantage of receiving money for unearned revenues because cruise tickets are generally paid in advance. It’s like getting loans at 0% interest. Another important figure to analyze is Earnings per Share (EPS), which is especially important to stockholders.Carnival’s $1. 67 EPS means that if net income was divided amongst all outstanding shares, investors would receive $1. 67 per each share owned. Although a good EPS does not necessarily represent company strength or weakness, its changes affect the price of a company’s stock and therefore it is one of the most looked at figures by investors (Kennon). Based on EPS only, Royal Caribbean may not be an attractive choice of stock since their EPS is only $0. 08. Corporate Resources – Ma rketing Product (Service) Carnival sells cruise tickets for vacations around the globe.Although Carnival markets the experience on the cruises as the vacation destination, their ships go to hundreds of destinations worldwide. Carnival sells numerous products and services onboard either directly or through independent concessionaries from which a commission is collected. Some of the onboard products and services offered that are not included in the ticket price include â€Å"liquor and some non-alcoholic beverage sales, shore excursions, casino gaming, gift shop sales, photo sales, full service spas, communication services, art sales, a wide variety of dining options and laundry services† (Carnival).Moreover, Carnival offers shore excursions and activities, and depending on the destinations, it owns or has stake in hotels where customers are offered a stay in a vacation package. In addition, carnival owns or leases private islands where it operates â€Å"among other things, b each bars and restaurants, water sports, sky lifts, cabana rentals and a surf rider attraction† (Carnival). Promotion: Carnival’s annual report states that each of its brands has â€Å"comprehensive† advertising programs designed to attract the local market. The principal mediums used for marketing and advertising are television, magazine, radio, outdoor billboards, direct mail, e-mail, online websites, online advertising and social media† (carnival). Social media’s utilized are facebook, Twitter, YouTube and Pinterest. In 2012, Carnival’s facebook pages reached over five million â€Å"likes†. In addition, Carnival has â€Å"past guest recognition programs† designed to give past guest’s incentives such as reduced prices and gifts in order to create customer loyalty.Price: Through its many brands, ships, and packages, Carnival claims to provide an option for every generation, taste, lifestyle, and off course, budget. The co mpany categorizes their â€Å"cruise experiences† as contemporary, premium, and luxury. A contemporary experience is the cheapest and most casual alternative, lasting a week or less. A premium experience is designed for experienced consumers with an emphasis on quality, comfort and style and lasts from a week to two weeks.The most expensive alternative is the luxurious, which provides high standards of accommodation and service in a smaller cruise. All cruise tickets include dining and entertainment but other options are available at additional prices. Carnival’s brands all offer special promotions, early booking or past guest recognition programs that reduce the regular price of a vacation. But regardless of the type of experience and discounts taken, cruise ticket prices can vary due to many factors including demand and season.To have little bit of an idea of prices we went through the steps of booking a vacation on carnivals website. The first thing we noticed on th e carnival-U. S. website was a sale of â€Å"up to $200 off + free upgrades for 3-5 day sailings† or â€Å"up to $400 off + free upgrades for 6+ day sailings. Using this sale, for travel in July and departing from Miami on a cruise to Bahamas, the cheapest alternative per person came out to be $330. On the other hand, high-end vacations can cost thousands of dollars. Place: Consumers can always book their cruise vacation directly on the company’s website.But according to Carnival Corporation, their cruise vacations are sold â€Å"mainly through travel agents, including wholesalers, general sales agents and tour operators that serve our guests in their local markets† (Carnival). Accordingly, the company puts a lot of emphasis on their relationship with travel agents. Carnival provides additional commission incentives to travel agents in order to motivate them to sell more of carnival’s vacations. Carnival also provides agents with educational tools such a s training seminars, online courses, and videos for them to better understand and sell Carnival’s products and services (Carnival). . TASK ENVIRONMENT Threat of New Entrants: medium * Economies of scale: expansion of current companies is the greatest weapon against new entrants. The few leading companies, Carnival, Royal Caribbean, ; Disney, purchase or build larger ships or renovate older ships. Carnival, the leading giant of the industry, â€Å"As of January 2011, the company operated 98 cruise ships with a passenger capacity of 191,464 berths. The company operates through four segments: North America cruise brands; Europe, Australia and Asia (EAA) cruise brands; cruise support; and tour and other. (â€Å"Global hotels†, 2012) * Government regulations: as a global industry, it is very difficult for government of any particular countries to impose regulations. Therefore lack of enforcement or adherence to regulations regarding employment, safety, and health requireme nts make it less bureaucratic for a new entrant. * Capital requirements: large capital is required to own and maintain a ship. * Product differentiation: many companies offer a variety of theme cruises to attract or cater to different needs or preferences. It is an opportunity for a new comer although quite difficult to grasp. Access to ports cannot be so easily obtained. There are very few ports embarkations in populated cities. Giant companies sometimes share ownership of ports when they financially contribute with state government to build them. Rivalry: medium high * Capacity growth: the cruise industry is driven by capacity maximization; every square inch of space must be utilized to accommodate and maximize the experience of the passenger. * Service characteristics: cruises and ships are designed to cater to the various ‘wants’ and preferences of different demographic around the world.Many cruise lines difference themselves by the amenities or destinations they pr ovide or offer. This uniqueness in the service adds an edge to the competitive field. Creativity is key in designing cruise themes that respond to or attract unexploited market niches. * Rate of industry growth: based on various reports the industry is growing at a much slower pace in North America than Europe and Australia. The slow growth may be because of the economic downturn that we are facing or it may be the result of how difficult it is for the cruise industry to reach the wallets of more Americans. Number of competitors: the industry is somewhat fragmented and few competitors have a hand in multiple niches. Competition is very high in the industry because they are fighting for a bite of a pie that is already small. The companies try to maximize their revenues by offering attractive prices and exotic destinations to customers. (Lester, Thyne, ; Weeden, 2011) * Switching cost: can be high or low based on the type of cruise that is analyzed. Threat of Substitute Products or Se rvices: medium high * Existence of substitutes: land-based vacations are the biggest threat to the industry.The cost is half or one third less expensive, the vacationer has more control in land than over sea, greater sense of security towards land than sea. Although land transportation does not provide the sea experience that a cruise does, it is by far preferred to sea transportation. Also, a cruise is considered a luxury item and can be compared to the purchase or acquisition of luxurious items such as jewelry, high-class automobiles or whatever else discretionary money is used for. A cruise is not a necessity; it is a choice, a reward or a gift to oneself or loved ones.The rating of medium high is mostly due because of the fact that choosing a cruise over a road trip, a flight, a hotel is determined by preference and affordability. * Switching cost: the only cost is the loss of the experience of the cruise. Power of Buyers: medium low * As a luxury item, the cost of a cruise is n ot negotiable. The expectation of a high cost is lightly brushed with the hope that a cruise will not drain a savings account. The buyer does not have a significant influence on the price. Prices are more inelastic than elastic. Backward integration is quite impossible, the capital necessary to lease or purchase a ship is over tens of thousands dollars. Average passengers cannot afford it. * Alternative suppliers do exist but high product differentiation does not allow the buyer to compare oranges with oranges, more likely the buyer has a choice between grapes or oranges. Moreover, the same company under different names may offer different theme or budget cruise. Cruise companies own more than one cruise lines, therefore choosing one cruise line over another may not represent a competitor’s advantage.Carnival and Royal Caribbean cater to different income brackets, Windstar offers exotic destinations for adventurers, Disney Cruise Lines are more family oriented. (Deep sea, 201 2). * Due to the hefty price of a cruise, the buyer has a high expectation about the service. The demands and expectations of buyers greatly influence the marketing techniques and expansion projects that cruise companies undertake. Brand recognition is a magnet to create and retain customers and helps increase demands. Power of Suppliers: medium high * Supplier dominance: only a few companies build ships, provide staff and services to cruise companies. Forward integration for suppliers is less likely but backward integration for the cruise line industry is highly possible. Carnival uses backward integration to reduce costs and retain control of how its ships are built. * Product and services that the suppliers provide to cruise lines is very unique and specific to that industry; switching cost is high. What these suppliers make or produce can only be sold to the cruise industry. * Economies of scale: purchasing industry is very important to the supplier. All the major cruise compani es own at least 5 to 10 cruise lines; which strengthen their purchasing power.However, there are not that many suppliers to choose from. Having limited purchasing options, increases the power of the suppliers. Relative Power of Other Stakeholders: very high * Special interest groups: environmental activists voice their concerns to the industry and directing their attention to fuel emissions, waste water dumping and few others. Thousands gallons of sewage and water bathroom water are discharged untreated in the ocean daily. Onboard observers are placed on ships that use ports in Alaska to ensure that wastewater is sanitized before being dumped in the ocean (Klein, 2011).In his article, Klein also indicated in his article that the daily fuel emission of one cruse ship could be equivalent of that of thousands of cars. * Loyal customers: their perception regarding the safety of the industry affects their decision about whether to use discretionary money on a cruise or elsewhere. It also taints their views of the brand recognition. They are less likely to refer that cruise line or to become repeat customers. * Travel agencies: most cruises are sold and advertised by travel agencies.Travel agencies are described by Cruise Lines International Association (CLIA, 2011) as ‘the distribution channel offering the best service† to the cruise industry. * Government regulations: even though some of the big companies have headquarters in the USA, they are incorporated in Antillean territories such as Panama, Bahamas, and Virgin Islands. Doting a ship with a flag registered in countries like Liberia and Panama, becomes a convenient avoidance tool that shields the cruise companies from adhering to labor and environmental laws, health and safety regulations, and most importantly avoid paying corporate taxes. Airlines industry: they provide means of transportation to different ports (from one state or one country to another), when airfares are high, it adds to the cos t of transportation to a port. To overcome this dependence more ports are being built in areas that can be driven to. * Local communities: when a cruise ship arrives at a destination, the community of that foreign location receives the passengers. How passengers and the cruise line are received affect how the cruise experience is perceived. * Global workforce: many describe the work environment as ‘sweat ship’ and it does not project positively on the companies.In the cruise industry, employees are in contact with passengers 24 hours a day and for several days; an unhappy or miserable employee is contagious. It does affect indirectly the bottom line of the company. Lack of respect, living quarters, rigorous demands of the job, being underpaid, language and culture differences separate the cruise workforce from the visibles and the invisibles. The cruise industry is part of the service sector; an unhappy, mistreated, undervalued workforce does not contribute to a pleasan t experience for the passenger (Agaard, Larsen, ; Marnburg, 2012). SWOT ANALYSISStrengths:1- wide variety of theme cruises Case issue #6 2- largest ship capacity Case issue #63- backward integration4- heavily invest in marketing Case issue #65- experienced managenent Case issue #1, #3 ; #4| Weaknesses:1- Corporate culture regarding ship workforce Case issue #12- PR handling of current sea tragedies Case issue #3 ; #43- HR: employee training and recruitment Case issue #1| Opportunities:1- partnership with travel agencies Case issue #62- leader in environment protection ; safety Case issue #3 ; #43- Adopt a global standard of ethics ; conduct Case issue #14- develop a positive rapport with ship workers Case issue #15- treat labor force as valuable contributors Case issue #1| Threats:1- Extra costs (taxes, cleaner waste water) Case issue #52- slow growth of North American market3- workforce motivation Case issue #14- land-based transportation and hotel resorts Case issue #65- brand rec ognition mudded by sea tragedies Case issue #3 ; #4| MODIFIED TOWSSO Cross referencing * The capability of backward integration puts Carnival in a better position to build ships that are safer friendlier to the environment while controlling costs. S3, O2 Case issue #3 ; #4 * Experienced management can develop standards that could help improve the workforce environment on board. S5, O3, O4, O5 Case issue #1 * Sharing marketing techniques with travel agents may improve and strengthen their relationship. O4, S1| WO Cross referencing * The tone starts at the top. A workforce that feels valued and adequately paid strengthens the base of any company. W1, O3, O4, O5 Case issue #1 * Actions speak louder than words. W2, O2, Case issue #3 ; #4 * Treating employees as valuable contributors helps HR in their recruitment strategy.W3, O5 Case issue #1| ST Cross referencing * Experienced management can use their expertise to create a working environment that empowers and values the ship employees. S5, T3 Case issue #1 * Marketing techniques is the best weapon to weaken the threat of substitutes and ‘clean’ the brand. S4, T2, T4. T5 | WT Cross referencing * When morale is low, ‘the ship may sink’. Employees are the foundation of companies, the weaker the base, the less solid is the company. W1, W3, T3 Case issue #1 * A PR is the voice of the company. After a tragedy, responsibility, reassurance, and compensation is key in re-building confidence. The opposite drills the hole deeper. W2, T4, T5 Case issue #3 ; #4| 5. EVALUATE STRATEGIC ALTERNATIVES Alternative #1Pause/Proceed with Caution Strategy: Proceed with caution until they are able to evaluate how the new tax and fuel regulations will affect the company and how to go about decreasing lawsuits due to employee exploitation and onboard guest safety. (CI #1, 3, 4, 5) Pros: * Customers will continue to do business with Carnival if they feel that they are working to improve the ship’s safety. * Employees put forth more effort if they do not feel as though the company is taking advantage of them and increased motivation from the staff can increase the company’s bottom line. Cons: * Only making small changes gives the competition a chance to catch up. * Nothing can be done to stop new regulations, so the company is bound to lose profits if there is an increase to fuel prices and taxes. Alternative #2No-Change Strategy: Since Carnival Corporation ; PLC has the largest ship and passenger capacity in the cruise industry with many diverse brands they can continue to do what they have been doing and hope they remain ahead of the competition even with the replacement of Mr. Arison in the future (CI #2). Pros: * Carnival is already one of the most profitable cruising companies with a 47% market share in the UK, 68% in Italy, 51% in Germany and 45% in France, so they are dominating the global market competing mainly with Royal Caribbean. * Doing nothing new gives the company time to fix some of the current issues. Cons: * Competition could pass and take control of market if Carnival sits idly by especially with growing customer concerns about safety of the ships. Profits are already decreasing from previous years so doing nothing new could keep the company from enjoying profits that could be acquired with innovative ideas. Alternative #3 Horizontal Growth Concentration Strategy: Carnival can increase operations in the current European market as well as reaching out to new regions (CI #6). Pros: * Carnival derives a majority of its revenue (nearly 52%) from US customers which is currently on the decline, so it would be beneficial to tap into other markets around the world. * Carnival already has market presence in Europe, so it would not be as difficult to increase capacity in that region as opposed to starting fresh somewhere else. Cons: The value of the dollar against Euro appreciated from 1. 60 in January 2010 to 1. 53 by April 2010 against the Pound . If the dollar strengthens it would record lower revenue than is actually earned. * The European economy is also faltered, so profits are not guaranteed and an increase in operations could instead cause a company lose. RECOMMENDATION I would recommend that Carnival begin with the pause and proceed with caution strategy for at least 1 to 2 years. This would give them time to get the company back in line with the aspiration of earlier business days when the safety and satisfaction of customers and employees came before the profits of the corporation (CI #1,3).Once they are back on track I would then recommend for Carnival to go forward with the horizontal growth. It is in their best interest to reach out to untapped markets particularly since there is a decline in the current US regions and they are looking for ways to increase revenues since Carnival is only currently reaching 20% of the total US market (CI #6). Growing horizontally in any market has significant financial implicatio ns for a cruise company. Considering that the newest Carnival Dream-class ships cost $740 million each (Shipcruise. org), it is a very expensive strategy to implement. In addition, the company would have to engage in research, planning, training, and marketing activities which can be very costly.Because Carnival’s balance sheet shows $465 million in cash, it will most likely be necessary for the company to borrow money to finance their growth. But borrowing money would not cause any problems for Carnival Corporation because as we analyzed earlier, the company has a healthy interest coverage ratio which measures the ability to pay interest on outstanding debt (Kennon). Although it is costly and risky, investing the money to expand into new and existing markets now, Carnival would have the potential to increase its revenues in the future years to offset the increasing costs. Carnival is already in the process of building two new ships to be entered to service in 2013 and 2014 a nd estimates that these two new ships will increase their passenger capacity by 19% (Carnival).Also, a continuous growth by the largest company in the industry could drive some of its competitors out of business and capture a larger market segment. 6-A. Implementation After an extensive in-depth review of the Carnival Corporation ; PLC, it is apparent, as with any large corporation it has many strengths and weaknesses. Carnival and its subsidiaries have a dominating; nearly 50% market share and strong support base among its customers. With plenty of loyal customers, and many recognizable and respected brands it would  appear to have few  problems. However, despite all the good attributes, several recent negative events have arisen concerning both  safety and corporate concerns, which have shaken the company and its shareholders. 6-B.What must be done?  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   1. Shareholder Confidence  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   2. Safety Concerns  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   3. Impr ovements and New Ship Building Action Steps| Responsibility| Start-End  | Financial impacts| Questions? | Concern:| WHO? | WHEN? | HOW MUCH? | What Must be done? |   |   |   |   | | 1. Shareholder Confidence| Micky Arison (CEO), Upper Management| 4/1/13-Ongoing| Determine Future Earnings|   | 2. Safety Concerns| Upper Management,Howard S. Frank (COO)| 4/1/13- 12/31/13| Cost of Training and current safety assessment|   | 3. Improvements and New Ship Building| Upper Management, Design Team,David Bernstein (CFO)| 4/1/13- 4/1/16| Set budget for cost of research|Shareholder Confidence Over the last 5 years Carnival's stock price has  collapsed. Granted, the worldwide economy has endured one of the worst periods in history, but In 2008 the stock was trading roughly 15% higher than what it is today, and between that time it fell as much as 70% to the 2009 lows. I believe Micky Arison (CEO) should be focusing on how to re-energize and grow the company in the face of some ver y difficult times. I believe this could be achieved by continuing to expand to new entrant markets in Asia, Europe and Australia. The United States has been saturated for some time, with little growth and shrinking profit margins due to fierce competition.In addition the company must provide a great experience for clientele in order to ensure repeat business, which is essential to Carnival's success. Safety Concerns Over the last couple years Carnival has experienced several bad events and even worse publicity. This has caused many to suspect wrong doings and create concerns over safety. Incidents like the MS Costa Concordia in 2012, which was one of the worst  disasters in modern cruising history, in which 34 people were killed and the ship was a total loss costing nearly 600 million dollars are a nightmare for a cruise line. In a more recent case, the Carnival Triumph endured an engine fire disabling the ship and causing the boat to be stranded at sea for several days.Although n o one was hurt, it  caused a severe inconvenience to the passengers and crew. Tales of rotten food and overflowing toilets ran for several days on international media. Safety should always be of utmost concern with any industry. The last thing people want or need is to have a feeling of insecurity  on a vacation. Cruises overall have been very safe for many years but still in the back of many people’s minds the thought of the Titanic lingers. Carnival needs to make sure people know that safety is  the top priority of the Carnival Corporation. Although it shouldn’t be pushed to the point where people get scared, it definitely needs to be continuously addressed.Carnival needs to constantly implement the most modern safety techniques and they must educate the crew how to keep passengers as safe as possible. Improvements and New Ship Building Because of the fierce competition in the cruise industry it is vital to constantly upgrade older ships and build larger and mo re desirable new ships with more features and amenities. A new trend in the industry over the last couple decades is to build bigger and bigger ships. Cruise lines such as Royal Caribbean have been very successful over the last decade by initially building  100,000 Gross Tons ships. Since then the Oasis Class that is well over 200,000 Gross Tons has been put in service. Carnival and its subsidiaries aren’t necessarily building the biggest ships but they are uilding larger ones as well. I believe this is very important because more and more people are going on cruises for the entertainment rather than the ports. Many cruise goers are like the typical individual who want the newest and the best and this is the reason it is pivotal for Carnival to keep up with the new trends of constant upgrades and services. 6-C. How should it be put into action? Action Steps| Responsibility| Start-End  | Financial impacts| Questions? | Concern:| WHO? | WHEN? | HOW MUCH? | How should it be put in action? |   | Micky Arison (CEO), Howard S. Frank (COO), Upper Management| 4/1/13| Determine budget in conjunction with finance dept. |Concerning safety, it must be a top priority to follow the standard government mandated procedures, which are given to the entire Cruise Industry. Carnival can go above and beyond this by simple measures such as drills and employee training. They can go beyond the recommend amount of life jacket and lifeboat requirements. I believe the biggest concern is to hold top officials such as the Captain responsible for such disasters as the MS Costa Concordia. Carnival is doing a great job in terms of shipbuilding and upgrades. They have kept up with the competition so in my personal opinion I believe the company needs to make security a given so that passengers focus on the amenities of the cruise ship.The company should also take guest recommendations seriously and look at what competitors such as Royal Caribbean are doing in newer ships and follo w as well. As for the Shareholders it is important for Carnival to insure that it is strong and well managed, generating consistent profits and growth. This is very important to any shareholder and I believe this can be achieved by expanding to new markets in  Asia, Europe and Australia. Logistics is also important to have available ships to move to these new ports to expand. 6-D. Who should do it and when should it take place? Action Steps| Responsibility| Start-End  | Financial impacts| Questions? | Concern:| WHO? | WHEN? | HOW MUCH? |Who Should Do it and when should it take place? |   | Micky Arison (CEO) Howard S. Frank (COO), Upper Management,  | 4/1/13| Determine budget in conjunction with finance dept. | Carnival and its subsidiaries future expansion and safety goals need to be implemented and enforced at senior management levels in order for the employees to know that it truly is important to the company's success. It takes a strong leader to do what’s necessa ry for future growth and fend off new fierce competition within the industry. It is important to start as soon as possible because the competitors within the industry will try to take advantage of Carnival's recent problems.I believe safety is a big concern with two major issues within a year of each other. This has brought bad press and will most likely follow up with loss of customers in the future. 6-E How much will it cost? Action Steps| Responsibility| Start-End  | Financial impacts| Questions? | Concern:| WHO? | WHEN? | HOW MUCH? | How much will it Cost? |   | Upper Management,Micky Arison (CEO),David Bernstein (CFO)| 4/1/13| Set budget for cost of research| Modern cruise ships  cost no less then 250 million dollars, with the most expensive costing well over 1 billion dollars. Carnival as well as the rest of the industry has absorbed these costs by constantly upgrading ships every year or two rather then building many ships at once.They also have sold older ships to othe r cruise lines, or even created new cruise lines with their older ships to cut costs and continue making more money with new locations around the world. As far as safety is a concerned it shouldn’t cost much considering a large amount of the cost of new cruise ships is equipping them with the most modern safety equipment available. It is very important for the employees be able to use and know this safety equipment because it is worthless if the staff doesn’t know how to use such equipment. Work Cited Carnival PLC. (2012, March 03). Carnival corporatoion ; plc 2012 annual report. Retrieved from http://phx. corporate-ir. et/phoenix. zhtml? c=140690;p=irol-reportsother2 Carnival PLC. (2010, March 03). Carnival corporatoion ; plc 2010 sustainability report fiscal year 2010. Retrieved from http://phx. corporate-ir. net/phoenix. zhtml? c=140690;p=irol-sustainability_env Carnival Corporation ; PLC. 2012 Annual Report. Washington, DC. 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