Current Trends in Tourism

Tourism industry is one of the most dynamic and fast developing sector which has a huge impact on economy. This sector is significantly effected by global economy therefore tourism and travelling also move downward in case of crisis in the financial circumstances. In this essay I would like to present some examples, how tourism has been effected by crisis in the main Arabic countries and Greece. Besides, it will be outined how airlines sector has been changed in the last five years.In 2010, there was some critical point as disturbances and civil war in significant tourism destination such Egypt or Tunisia. These countries most considerable income comes from tourism but obviously lack of tourists can cause an economy crisis. Although these countries lost their visitors but other Eurasian countries (for instance Turkey) made profit because those tourist who prefer to visit that region choosen Turkish-Riviera which is safer than Arabic languague areas with similar conditions. However, T urkey made a profit by the the political crisis in Egypt.Egypt's neighbours – for example Libya and Israel – had loss too,since many tour operators had organised combined tours to these countries and that tours were cancelled, consequently the loss increased. By summer of 2012, the politics situation became stabled and some part of these regions got back their popularity especially the Red-sea coast and Sinai. Also, there are some difficulties in the Europien market. Between 2009-2012 Europe continued its struggle for surviving, mostly one of the main mediterranean destination, Greece.The crisis has become deeper and painful. Tourism is incredibly important for Greece, for the main profit comes from tourism and catering consequently they can not loose this significant income. Due to crisis some advantages came up for the visitors. The economy situation has helped push down the value of the Euro, making to Greece relatively cheaper for Americans or other foreign visitor s. In fact, some prices has been fallen such as hotel rooms and food due to crisis. As a result, number of the tourists is roughly the same.According to Giorgos Mamalos press advisor of the Greek embassy said:† Greece is certainly going through a crisis, but this has no significant impact on security and tourism. † Let us have a look on airlines. Airlines have an important impact on tourism and they have affect on each other. In the past few years some airlines have no choice to avoid to break down. Hungarian airlines (MALEV) was shuted down in this year after 60 years service. It was not a huge global airline but it kept a connection between Balkan and West-Europe and had flown over 33 countries.Following their bankrupcy there is no more flight between these two region therefore tourism has strongly decreased. Also, many airline such as Kingfisher Airline, Delta Airline etc. exist, although they are suffering by financial problems, which has an effection for tourism ind ustry. On the other hand, low-cost airlines such as Ryanair, take advantage on their competitors crisis and found new opportunities that generate strong competition on the aviation market. Notwithstanding, according to Bernd Hahn's â€Å"A study on low cost carriers in Europe† essay the full-cost carriers do not loose to many clients because of low-cost airlines.What is the reason why the low cost and high price airlines and travel agencies are not virtual competitors? I reckon, question is simple. Every customer has different needs. Those passangers that had previously travelled with traditional airlines and agencies and they had been satisfied with service, well, they will not change their habits – independently on prices. Those who can afford only lower budget but would like travelling and visiting other countries – these passengers will use low-cost airlines and cheap services.It is not a simple „fare-competition† because both of them have a diff erent level of service. Consequently these companies are not real rival. Yet, they have to keep an eye on each other because tourists financial circumstances, tourism and aviation market can change very quickly and they can win or lost customers. To sum up, in the past few years has been a global economy and political crisis which has affected on the tourism and airline industry. Importancy of low-cost airlines have been growing continuosly, which is an important trend.It seems these industries have survived the crisises and some forecast shows that positive trend will be continuing in 2013, although the unstable economy situation always have a negative impact on the industry . Sources: What does the Greek economics mean for a visitor to Greece? (www. eturbonews. com )(David S. White) 2010 Restoring Egyptian Tourism from crisis to recovery (www. eturbonews. com) David Beirman 2011 Greece crisis has no impact on tourism, embassy in Rome, Giorgos Mamalos (www. ansamed. info) 2012 A st udy on low cost carriers in Europe, Bernd Hahn, Wuppertal Papers, No, 159, 2006

Accounting Intern Paper

Company introduction KC ACCOUNTANCY CORP is a Southern California CPA firm, found in 2000. The company offers a full range of business and consumer CPA services including financial statements preparation, IRS. FTB. EDD representation, tax return preparation, office computerization, new business start-up, general bookkeeping and tax preparation & planning. Job description During the intern period, I did four main tasks as follow 1. Bookkeeping The company uses the accounting software called Write up and Quick Book to do the book keeping.In order to do the book keeping we need to create a ledger for all the financial accounts and use the check and invoice provided by the customer to record all payments made from these accounts. We should filled the all the column of cells, which include date, name of the payment, payee, category (for tax purposes), memorandum and a record of the check number or the invoice number. The reason for write the category is for tax purposes. After record the payment, we need to use the same software to record the cash inflow. We list all money (only revenue) received by the customer.As same as the cash outflow, we need to record the date, name of the income, payer-providers, category, memorandum and a record of the check number. If the company has the Loan or the investment, we should use the different ledgers to record it. Next step, we need to create accounts payable/accounts receivable. For the account payable we list utilities, rent, and other future payments. We list two date: one is the due day another one is the due day before penalty. For the account receivable, we list the income we will receive in the future.This ledger is most important, I need to aware that when the company actually receives the payment by the customers or the bounced check will happened. The final step is to reconcile the ledgers with the bank statements. The company will provide us their bank account records and allow us to check each payment. This is typi cally done on a quarterly schedule 2. Prepared, examined, and analyzed accounting records, financial statements, and other financial reports to assess accuracy, completeness, and conformance to reporting and procedural standards.Financial statements include income statement, statement of retained earnings, balance sheet and cash flow statement. From the supervisor’s experience, I learned that there is specific logical order for preparation due to some financial statements use numbers from the other statements The order is following: * Income statement * Statement of retained earnings * Balance sheet * Cash flow statement Before financial statements are prepared, we need to adjust entries based on revenue recognition and the matching principles. Each transaction may affect one income statement accounts and one balance sheet account.Adjustments fall into one of five categories: accrued revenues, accrued expenses, unearned revenues, prepaid expenses, and depreciation. Income Sta tement The income statement reports revenues, expenses, and the resulting net income. It transfers from revenue, expenses and capital gains or losses ledger account balances into the income statement. Statement of Retained Earnings The Statement of Retained Earnings is prepared after the income statement because we use the net profit or loss account balance from income statement.The retained earnings statement shows the retained earnings at the beginning and end of the accounting period. It is prepared using the following information: * Beginning retained earnings from previous statement of retained earnings. * Net income, obtained from the income statement Balance Sheet The balance sheet reports the assets, liabilities, and shareholder equity of the company. It is constructed using the following information: * Balances of all asset accounts * Balances of all liability accounts * owner's equity Cash Flow StatementTo do this cash-basis report, we subtract cash disbursements from cash receipts directly. It also takes information from all three previous financial statements. Two time periods of comparative balance sheets are examined in order to prepare a statement of cash flows. 3. Maintained Quarterly payroll records. At first I am very curious why the company would like to outsource the payroll process . The manager tell me small business owner usually spend around eight hours per month doing payroll because laws and the IRS have let the payroll function become a time consuming task.Outsourcing the payroll can let the company focus more on running company also avoid the risks of calculating mistake . Most important, federal, state and local payroll tax laws are frequently changing and becoming more complex The Internal Revenue Service (IRS) is the revenue service of the United States federal government. The agency is a bureau of the Department of the Treasury, and is under the immediate direction of the commissioner of Internal Revenue. The IRS is responsible for collecting taxes and the interpretation and enforcement of the Internal Revenue Code.I need to call each company on the list to make sure how much salary they pay for each employee. Company may pay their employee quarterly, monthly or hourly. Most of our customer is Chinese/Taiwanese owned company. I can use Chinese to call them . I need to clarify how many employees in their company and how much salary they need to pay. By using 1099-etc, we just need to type in the data in the system. The software will automatically calculate federal, state and local payroll taxes. The software supports Federal payroll forms such as the 941, 940, 943, 944 and 1040 SchH. Form 941 Form 941 is Employer’s QUARTERLY Federal Tax Return. Federal law requires employers to withhold taxes from employees' paychecks. Each time wages are paid, employers must withhold — or take out of employees' paychecks — certain amounts for federal income tax, social security tax, and Medicare tax. U nder the withholding system, taxes withheld from employees are credited to employees in payment of their tax liabilities. Federal law also requires employers to pay any liability for the employer's portion of social security and Medicare taxes.This portion of social security and Medicare taxes is not withheld from employees. Employers who withhold income taxes from wages or who must pay social security or Medicare tax, use Form 941 to report those taxes. The deadline for 941form is the last day for month that follows the end of the quarter. * Quarter One (January, February, March): due on April 30. * Quarter Two (April, May, June): due on July 31. * Quarter Three (July, August, and September): due October 31. * Quarter Four (October, November, December) : due on January 31 of the following year.Every time, I update the information on the system, I need to print out two copy. One is for our company, the other one is for our customer . 4. Miscellaneous As a intern, I also spend some t ime to doing miscellaneous thing such as put files in order alphabetically, print out the package label and paste on the envelope , double check the document and send to the customer. Analysis of the company The company starts the business from 2000, the boss try hard to build a very good relationship with the customers.They are successfully to build the relationaship because the employer in the company always put them self in the customer’s shoes, the existing customer will bring the new customer. So the company does not need to post the advertisement online or ask other to design a fancy website to attract new customer. Thus they can provide perfect and complete service with reasonable price. Due to the good relationship with customer, the accounting office is also become an information exchange place. We can always see the customer to ask the boss to refer a dental, a lawyer and the business to others.It is how a good networking start. However, during the intern period, I find there are things the company could do better. First, the boss plays an extremely important role in the company. She needs to check every document before mail to the customer or mail to the government institute and she assigns new task for everyone every morning. The company would be in a mass when the boss is not in the office. I still can remember, one time the boss has emergency and she cannot come to the office for two days.All document put on her table like a small mountain, and others has nothing to do. Second, a lot of things without a logical order, there is a simple example. When I start with filing away the documents, I cannot find some individual’s name within the file. After I check with the boss, the boss tells me, someone they will put all family numbers’ file together instead individual file. The problem is that only the boss knows who the family numbers are. It is hard for the account specialist to file the document; however the boss is too busy to do this kind of things.Third, the company still use some out of date process. Every quarter, the customer needs to turn in their check record and the invoice physically to the accounting office. Most of the records are hand write. In fact I think the accounting office can ask electric version from the customer, then it can complete the process more efficiently, because sometime I see accounting assistant struggle with the numbers or the word on the check or the invoice and with electric version, it can be send to accounting firm in time.I think the company know better what their business is, so it is not a big deal for them to change the physically version to electric version. Also I know most software will automatically download the bank records and allow the account assistant to quickly mark which payments and deposits are already recorded in the ledger, and which must be separately accounted. This is typically done on a monthly schedule, but with software and online banking, it i s can be finish on a weekly or even daily schedule. What I learn during this internshipI am a student who still thinking about my future career. This is a good opportunity for me to know accounting person and know more about how the accounting firm work. I learn some information from my coworker and the supervisor. 1. Future is Bright The future of accounting is bright according to the Bureau of Labor Statistics which projects a 16% increase in job openings by the year 2016. Much of this reflects the increasing complexity of corporate transactions, the introduction of Sarbanes-Oxley requirements after the Enron scandal and growth in government.Demand is especially high in the tax and health care areas. My supervisor share her own experience with me, Emily, who is a 27 year old woman, who finish her MBA in California state – Los Angeles, she tells me all the international student stay here after graduate are doing accounting related job. It seems it is the only way internation al student can survive in U. S if they study in business field. 2. Managerial Accounting Ideas is popular Many firms are focusing on activity-based management, process-view analysis, constraint checking and business process analysis as well.The world of management accounting is evolving rapidly and there is high demand for accountants who are knowledgeable about these trends 3. High degree necessary We can find the requirement for most accountant and auditor positions are at least a bachelor degree in accounting or a related field. As an MBA student especially a master degree in accounting, or with a master degree in business administration with a concentration in accounting. We have advantage to apply accounting-related job. 4. Skill Requirements Becoming BroaderThere is high demand for individuals who have technical skills and good communication skill, and foreign language skills. Accountants are broadening as business globalizes. 5. CPA has highly valued A recent survey shows tha t over half of corporations which hire accountants feel that the CPA (Certified Public Accountant) important, however, in some case we can enter an accounting firm without completely the CPA. It means we still have chance and time to prepare for the test, never too late to prepare . My supervisor is a good example, she started to prepare her CPA after she start work in the KC Company. 6. High salaryThe median expected salary for a typical  Accountant I  in the  United States  is  $44,652; for a typical Accountant II is $53,588; for a typical Cost Accountant I is $46,874;for a typical Cost Accountant II is $58,020. ; for a typical Cost Accountant III is $70,574; for a typical Cost Accounting Supervisor is $65,861; for a typical Cost Accounting Supervisor II is $75,452. ; for a typical Accounting Manager is $84,437;for a typical Accounting Director is $127,660. 7. Start from a intern The supervisor suggests me start to apply the position in the company I want to begin my car eer and ask the intern position before I graduate.Thus, I will get more hired opportunity as a full time employee. Do be hesitant, start to apply! Conclusion My Internship is one of the most beneficial things I do during my MBA. I really enjoy the time in K. C. Company. During this internship I learned a lot about the profession and about how much hard work and dedication it takes to be a accountant. I know I am a person who sensitive with numbers but not detail-oriented. In order to become a successful accountant, I need to change the way I doing things. To be a more competitive person, I need to review all the account material I have learn during those year.Even though some people say it is not a good way to learn from the textbook, however I believe reading the textbook is the best way to review all the important concept in the limited time. The lecture and the text book can provide us solid background knowledge. I will try to apply the accountant position now, after I understand the future of accounting-related job and the personality to be a good accounting worker. I will start my career in accounting files after I graduate. Reference IRS website : http://www. irs. gov/uac 941 form http://www. irs. gov/pub/irs-pdf/i941. pdf

Boeing vs Airbus

In todays marketplace, distinct differences in the way competitive products work have become increasingly rare. But functional product differentiation is exactly what the rivalry between the Airbus A380 and the Boeing 787 Dreamliner is all about: Two companies with fundamentally different products, based on diametrically opposite visions of the future, engaged in a Hatfields versus McCoys battle with billions of dollars at stake. Each company has made a series of big bets. The Airbus A380 super-jumbo is a plane for the annals of aviation history. When it goes into service later this year, it will be the biggest, baddest airliner around, capable of ferrying from 550 to 800 passengers (depending on configuration). With its two full-length decks and the promise of amenities such as sleeper cabins, cocktail lounges and a gym, it is sure to capture the publics imagination. But for all its promise of innovation, the A380 represents a bet-the-house wager on one of the most disliked same-old models of air travel: the hub-and-spoke. The A380 is built around the assumption that airlines will continue to fly smaller planes on shorter routes (spokes) into a few large hubs, then onward to the next hub on giant airplanes. It also presumes that passengers will want to put up with the hassles of changing planes in exchange for the privilege of traveling in a jet-powered cruise liner. Whether the A380 will live up to the hype remains very much to be seen. Passengers may become disenchanted with the plane if it turns out to be a freighter rather than a luxury liner. When airlines can choose between more seats and a gym, out goes the gym. Sound cynical? Not to those of us who fondly remember the upstairs first-class lounge in the early 747s. Second, and even more importantly, Boeings (nyse: BA news people ) 787 represents an appealing alternative. Its based on a fundamentally different vision, and it is radically different by design. Boeing doesnt take the current hub-and-spoke model as a given. Marty Bentrott, vice president of sales, marketing and in-service support for the 787, says that since 1990, the number of city pairs more than 3,000 nautical miles apart served by the worlds airlines have doubled, the number of frequencies offered by the airlines have doubled, and the number of available seat-kilometers (seating capacity times miles flown) have doubled. None of these trends show any signs of abating; meanwhile, the average airplane size has actually declined slightly. Clearly, customers prefer more point-to-point flights, flown more frequently, on smaller airplanes. Marketplace insight is at the core of 787 product development. Our strategy has been to design and build an airplane that will take passengers where they want to go, when they want to go, without intermediate stops; do it efficiently while providing the utmost comfort to passengers; and make it simple and cost-effective for airlines to operate, Bentrott says. Rather than seek economies through scale, the 787 will deliver economy through technological innovation, making the most of newly designed, fuel-efficient twin engines and lightweight composite materials. The 787 offers a very different take on the flying experience, too, focusing on comfort rather than perks that could be eliminated by airlines: more standing headroom, larger windows and bathrooms, and higher humidityall features that will benefit passengers regardless of seat configuration. If Airbus appears to covet recognition in the Guinness Book of World Records, Boeing seems predisposed to making a favorable impression in airlines inventories. To date, carriers have ordered 159 A380s, and almost twice as many 787s. Both Airbus and Boeing have a hedge in their back pocket. To compete directly with the A380, Boeings 747-8 uses fuel-efficient engines like the 787 to carry 450 passengers. To counter the 787, Airbus is offering a white elephant called the A350, which has been widely derided as out of step with the changing times. According to Boeing, the 787 is the result of over a decade of focus groups and scientific studies to gain a better understanding of passenger comfort and how the design of airplane interiors can make flying a more pleasant experience. If Airbus made comparable efforts, we are hard-pressed to find the evidence. The ordeals of air travel after Sept. 11, 2001, make even short flights feel like long hauls. Did people really tell Airbus that they are perfectly happy to stand in more lines in exchange for a cocktail lounge? Airbus could not be reached for comment. Boeing versus Airbus is one of the most hard-fought, closely watched marketing battles out there. Its also one of the most fascinating. Not long ago, it appeared as if Airbus had gained the upper hand. If Boeing succeeds in winning this battle and it appears to be well on its wayit will amount to one of the great reversals of business fortunes. It will also serve as proof of the wisdom of understanding the marketplace well enough to lead, rather than follow. Airbus In the summer of 1988, a group of Airbus engineers led by Jean Roeder began working in secret on the development of a ultra-high-capacity airliner , both to complete its own range of products and to break the dominance that Boeing had enjoyed in this market segment since the early 1970s with its 747. McDonnell Douglas unsuccessfully offered its smaller, double-deck MD-12 concept for sale . Roeder was given approval for further evaluations of the UHCA after a formal presentation to the President and CEO in June 1990. The megaproject was announced at the 1990 Farnborough Air Show, with the stated goal of 15% lower operating costs than the 747-400. Airbus organized four teams of designers, one from each of its partners to propose new technologies for its future aircraft designs. The designs would be presented in 1992 and the most competitive designs would be used. In January 1993, Boeing and several companies in the Airbus consortium started a joint feasibility study of an aircraft known as the Very Large Commercial Transport , aiming to form a partnership to share the limited market . This joint study was abandoned two years later, Boeings interest having decreased because analysts thought that such a product would unlikely earn the $15-billion in development costs. Despite the fact that only two airlines had expressed public interest in purchasing such a plane, Airbus was already pursuing its own large plane project. Analysts suggested that Boeing instead would pursue stretching their 747 design, and that air travel was already moving away from the hub and spoke system that consolidated traffic into large planes, and toward more non-stop routes that could be served by smaller planes. In June 1994, Airbus began developing its own very large airliner, designated the A3XX . Airbus considered several designs, including an odd side-by-side combination of two fuselages from the A340, which was Airbus’s largest jet at the time. The A3XX was pitted against the VLCT study and Boeing’s own New Large Aircraft successor to the 747 . From 1997 to 2000, as the East Asian financial crisis darkened the market outlook, Airbus refined its design, targeting a 15 to 20 percent reduction in operating costs over the existing Boeing 747-400. The A3XX design converged on a double-decker layout that provided more passenger volume than a traditional single-deck design, in line with traditional hub-and-spoke theory as opposed to the point-to-point theory of the Boeing 777, after conducting an extensive market analysis with over 200 focus groups . Still, since the 1995 forecasts to the present, others including a former Airbus executive have disputed the hub-and-spoke justification, and continued to predict that the market for very large aircraft such as the A380 is small. Boeing During the late 1990s, Boeing began considering replacement aircraft programs as sales for the 767 and Boeing 747-400 slowed. The company proposed two new aircraft, the 747X, which would have lengthened the 747-400 and improved efficiency, and the Sonic Cruiser, which would have achieved 15% higher speeds while burning fuel at the same rate as the existing 767. Market interest for the 747X was tepid, but the Sonic Cruiser had brighter prospects. Several major airlines in the United States, including Continental Airlines, initially showed enthusiasm for the Sonic Cruiser concept, although they also expressed concerns about the operating cost. On 11th September 2001increased in petroleum prices, making airline company more interested in efficiency rather than speed. The worst-affected airlines, those in the United States, had been considered the most likely customers of the Sonic Cruiser, and thus Boeing officially canceled the Sonic Cruiser on December 20, 2002. Switching tracks, the company announced an alternative product using Sonic Cruiser technology in a more conventional configuration, the 7E7, on January 29, 2003. The emphasis on a smaller midsize twinjet rather than a large 747-size aircraft represented a shift from hub-and-spoke theory towards the point-to-point theory, in response to analysis of focus groups. â€Å"The 7E7 looks fairly traditional on the outside, but it will be dramatically different on the inside. † -Time The replacement for the Sonic Cruiser project was dubbed the 7E7. Technology from the Sonic Cruiser and 7E7 was to be used as part of Boeings project to replace its entire airliner product line, an endeavor called the Yellowstone Project (of which the 7E7 became the first stage). The E was said to stand for various things, such as efficiency or environmentally friendly; however, Boeing ultimately claimed it merely stood for Eight. Analysis Comparing Boeing and Airbus development and decision in aircraft manufacturing, both have same final target: to deliver high capacity, low-fuel-consume, long-travel-range airplanes. But if we compare Boeing 787 with Airbus 380 decision we can conclude that Boeing’s decision to modify the 747 model to improve its capacity is better than Airbus decision to develop new kind of jumbo-jet because: * Single Airbus 380 production cost is US$346.3 million while Boeing 787-9(the most expensive models) is US$218. 1 million. * Airbus 380 total orders (by the end of November 2010) is 234 with deliver ratio of 17. 75% (41 delivered) while Boeing 787 total orders (by 14th December 2010) is 846 with deliver ratio of 0% (0 delivered) As the fact goes, we can see that production cost of Boeing 787 is lower than Airbus 380, this is ha ppen because Boeing 787 is slight modification of Boeing’s earlier aircraft such as 747 and 767 (787 will be the successor of the 767. Airbus 380 is entirely new kind of airliner in Airbus line of product. The development cost only of A380 is â‚ ¬11 billion (production cost not included). Seeing from customer eyes, the fact is Boeing 787’s orders have reached the number of 846 units while Airbus 380 orders only 234 units. But because of the numerous delays on both sides, the delivered unit only reaches 41 units for Airbus and 0 units for Boeing. Latest Facts Graph Conclusion Boeing and Airbus have always been two major aircraft production company in the market. Both of them are competing to be the best in their field whether in terms of business strategy or fuel-saving technology to meet the market demand. They keep developing their ideas to be innovative and improved in order to maximize the demand of their products. In the early years, it’s clear that Boeing dominates the market, overthrow the Airbus. But since the 1970s Boeing has faced increasing competition from Airbus, which has expanded its family of aircraft to the point where Airbus and Boeing now cover an almost identical market. Airbus has delivered more planes than Boeing every year from 2003 onwards. Airbus orders have exceeded Boeings in every year since 1999 except for 2000, 2006 and 2007, which went to Boeing. In 2005 Airbus won more orders by number, but Boeing won 55% by value. In summary, of the last 10 years (2000–2009), Airbus won 6,452 orders while delivering 3,810, Boeing won 5,927 orders while delivering 3,950. Therefore the managers are required to filter, analyze all the information that can take part in building a better improvement for the aircrafts and are necessary to do decision-making carefully. Firstly they need to identify the alternatives, secondly evaluating alternatives and last but not least selecting the best alternatives. A deep thoughts and long process are needed as procedure to reach for the final best decision that can contribute to the increase in the growth of sales. Both Boeing and Airbus have different business strategy to win the market value. Although basically they have similar technology, they have different body specifications and capacity. Given the scale of investment, the effort to design jetliners and competition in the same markets, it stands to reason they are similar in both size and technology. But it doesn’t always work that way: Airbus developed the huge and less successful A380 while Boeing concentrated on the more modest 787. From a business standpoint, Boeing is in a slightly better situation. The 787 is sell very well and is already a profitable product, as is the 777. Airbus is in a worse position because of the number of duds they have in the portfolio. The A380 will not be profitable in the next decade if ever it is not selling at all in the past couple of years and they need about 450 to break even it is also doubtful that the A350 will match the total sales volume of the 787 and the 777 (or its replacement) which is the A350s mission. The 787 is also a fuel-efficient aircraft that is more likely to reduce the cost of fuels during the long-haul journey. The possible high reduction cost during travelling is a big advantage for the airline companies who purchased the 787. Lower operating costs mean lower ticket price for the consumers. This creates a mutual benefit between the business airline companies and consumers. Boeing 747 already existed in late 1960s and became the first biggest passenger plane on earth that time. The reasons why this plane is made are to reduce air traffic, to reduce airfare and try to make another success like 707. Because the plane is massive, it can bring many people at once. Therefore, it’ll reduce the cost and reduce air traffic. In size A380 is bigger than Boeing 747. In capacity also, A380 carries more passenger than Boeing 747, but the cons are Airbus A380 much more expensive than Boeing 747 and Boeing 747 has lower cost per trip rather than A380. Thus, it’ll make the company makes more profit. Basically the two competitors had a different approach in their basic foundation. For Airbus, the answer is â€Å"bigger and better. † The A380 is a massive plane designed for long trips, conserving fuel by consolidating passengers onto one flight where two were needed before. Boeing has a different approach flexibility. Its three versions of the 787 are adapted for different purposes. The 787-3 has a large passenger capacity over short distances, while the 787-8 and 787-9 are built for longer trips, but carry fewer passengers to maintain fuel efficiency. References

Despite the failure of the Constitutional Treaty in 2005, Europe truly Essay

Despite the failure of the Constitutional Treaty in 2005, Europe truly has a constitution. This fact gives support to the existe - Essay Example The implication is that the positive impact is founded on the existence of European Public Law. It is important to understand whether European Public Law does exist today and what form it has at present. Various manifestations have been seen throughout the years, including the Roman Law during the Roman Empire (Birkinshaw, 2001). The discussion shall now cover an overview of public law, moving into a more detailed attempt to determine the manifestation of the European Public Law. Discussion Public law implies a system of provisions which manages public activities and affairs. It mainly relates to the application and non-exercise of public powers, including the private actors, legality, and rationality. It also represents provisions which are founded on historical and cultural elements, including political practice (Birkinshaw, 2003). Public law also manifests differently in other European processes where it is indicated via special courts and differentiated from private law as it is not as stable as in the English and Irish laws. There are various incarnations of the European Public Law. ... EU law includes the relations between the EU, the member states, the citizens, EU organizations and agencies, citizens from non-member states, as well as regulatory law. Such regulatory laws have become more imposing throughout the years, with competition laws impacting so much on Europe. A common law of Europe seems to be viewed negatively, even as it supports the growing number of scholars and their research goals in public as well as private law (Birkinshaw, 2003). It is not favourable if it is perceived as a monument being imposed by higher authorities without much consideration to the general sensitivities for member states, possible new members, the Council of Europe, including other non-members (Majone, 2002). The goal of supporters is to secure provisions inching towards common effects and goals. There should be an acceptance on the lack of boundaries in common laws. There are rich sources for common law, including those which relate to human rights, political, and religious ideals. Another possible incarnation for the European Public Law is the European Convention on Human Rights (Birkinshaw, 2001). The success of this law has also impacted on English legal practitioners, specifically in instances where there is an objection to the fact that treaties set by these practitioners seek to prevent the mistakes of the Second World War; such contention has often been used mostly against the UK, not other ratifying countries (Hunt, 1997). English judges have suggested preferences for patriation, not the blending of the Convention into the UK laws with the Human Rights Act of 1998. Even prior to the incorporation, case laws have indicated the focus on common laws on its traditions for the management of human rights, with the inclusion of US and the

Philosophy of Punishment Essay Example | Topics and Well Written Essays - 750 words

Philosophy of Punishment - Essay Example However, the concept of punishment as largely arisen from a retributive practice as a form of providing justification for the victim (Alexander 2012). A greater liberal justification of punishment is the sense of isolating and getting rid of all threats in the society so as to achieve social order and to ensure that criminal aggression is kept within control (Bedau 2010). The threatened punishments are deemed to be necessary as due process of law. In the modern day, punishment is defined as any form of pain, suffering, confinement or loss that has been imposed by auhtoruty on a person for an offense (the authority having the subject for the offense). However, the definition of punishment also needs to include the effects and incidents related to the punishment including exclusions to be made. Early man caused punishment to include destruction of those objects or people who harmed or threatened to harm society or property. In this paper, the broad philosophies of punishment would be c onsidered along with the various models that are being used (Alexander 2012). Body The first model of punishment being considered is retribution. Retribution is a theory of justice that punishment should be appropriate or proportionate to the type and seriousness of the crime with the aim of achieving satisfaction and psychological benefits for the aggrieved party and the society in general. Often the saying goes ‘an eye for an eye’ and ‘a tooth for a tooth’, wherein the severity of the punishment should be based on the severity of the wrongdoing. According to Michael Davis, a philosopher, the amount of punishment as per retributive justice should be based on the amount of unfair advantage that has been gained by the wrongdoer. In proposing such a theory, he wanted greater reform in the reformative justice being done. Following the development of this theory, judges considered the mitigating factors for various crimes based on the situations existing (Bedau 2010). Vengeance or revenge is more of harmful form of action as a reaction to crime and a form of grievance and may be based on societal rules. Over time vengeance has evolved and today is being implemented with greater social cohesion. Death penalty is a form vengeance wherein some societies have it even for other crimes such as child rape. Many religions such as Christianity and Buddhism go against the concept of revenge. Vengeance may be considered as a form of retribution. However, in today’s justice system, punishment has gone much more beyond mere revenge with an intention of protecting society in general (Bright 1995). Deterrence considers that punishment is necessary for any crime and should often be based on the gravity of the crime, so that the crimes are avoided not only by the offender, but also by other potential offenders that may be present in society. There are 2 types of deterrence’s, namely general deterrence and specific deterrence. In general dete rrence, specific events would help to prevent crimes in general, so that unintended behavior is removed from society. In specific deterrenc

Strategic corporate finance Essay Example | Topics and Well Written Essays - 2000 words - 1

Strategic corporate finance - Essay Example Price-to earnings ratios as a method of share valuation aids in the determination of whether a company is undervalued or overvalued, however, P/E ratio has a number of limitations or pitfalls and is only valid in specific circumstances. Its usefulness is undermined by the following factors. The first factor is accounting. Earnings from which is it derived is an accounting figure that is determined under the guidance of accounting rules known as Generally Accepted accounting Principles, GAAP) that are subject to change and they usually vary from one country to another (Barnhart & Giannetti 2009: 79). Therefore, EPS can be squeezed, twisted and prodded into numerous numbers depending on how one decides to do the books. It is therefore subjective and the figures being compared may not be the same. The second factor that limits the usefulness of P/E ratio is inflation. During times of high inflation, P/E ratio tends to e much lower because the market normally views the earnings as bein g artificially distorted upwards (Ball 2012: 327). During such times, depreciation as well as inventory costs tends to be understated since the replacement costs of equipment as well as goods increase with the rise in general level of prices. Information therefore, makes it hard to value the shares because past information is often less useful today. P/E ratio cannot therefore give a clear picture regarding the valuation of the shares of the company in times of high inflation Another limitation is about market interpretations. The values of P/E can be interpreted in a number of ways, for instance, a low P/E ratio may mean that the company is undervalued. On the other hand, it may indicate that the market thinks that the firm in question is headed for trouble or problems in the near future. This implies that the earnings of the company will reduce lower than expected (Ball 2012: 330). It is clear that companies are able to manipulate

How do cultural factors influence a Multi National Company's decisions Essay

How do cultural factors influence a Multi National Company's decisions on location selection and organizational structure for it - Essay Example Transformation firms that differ significantly from national and international firms are making the later firms, are making them accountable to global markets and economic settings. Because of globalization effect, the state ability to regulate its economic activities is declining rapidly, while global markets increase in their dominance over national economic policies. These policies have to be aligned in a way that guarantees multinational companies and competitive advantage. Globalization has created ways for opportunities for increasing number of businesses to cross their countrywide borders and enlarge their market share, lessen expenses, as well as improve proficiency. Multinational companies are going global mainly because, of market saturation in the parent country; they look for new markets to bit competition. The multinational companies take advantage of the economies of scale in the targeted country to increase their business by gaining more stable profits. This as a resul t has led to increased growth of international movement of products and services rapidly. Cultural factors influence a Multi-National Company's decisions on location selection Cultural factors affect both the brand appearance and affect the structural organization of the company ranging from the management of workers, the sales of the product and the gratification of the consumers. Organizational structure has to be adjustable so that it can meet the cultural aspects in areas with varied cultures. According to research, culture comprises of a set of dogmas, moral principles, language, customs as well as laws apprehended in mutual by a country, a society, or other distinct group of individuals (Haleblian, McNamara and Davison, 2009). Currently, with many refugees in various nations worldwide, there is a wide range of cultural diversity, religious views, traditions as well as ethics, reflecting the dispersed basis of the people. Organizational culture is referred to as a pattern of mu tual understanding s around which action is organized. Alternatively, it can be taken to imply a scheme of knowledge, of standards for remarking, considering, appraising, and acting that serve to associate human societies to their environmental settings. From statistics, there has been an increase in developments in the area of transport and communications, which have made the universe a global community. Accordingly, there has been a reduction of trade barriers because of the presence free trade zones in a significant number of nations (Beamish and Lupton, 2009). However, despite the fact that there has been the lessening in trade blockades to entering new global markets, there are still various complications. Managers who deal with multinational organizations currently encounter an exterior setting that is rapidly altering multilayered, unreliable and dynamically competitive. Multinational organizations can help in the creation of competitive benefits; although only under particul ar conditions. It is of great significance to note that, issues that relate to diverse groups within the workforce are complex and delicate to handle. Therefore, this means that without substantial understanding of the diverse organizational and socioeconomic as well as cultural factors, multinational corporations may not flourish in taking full benefit of the existing resources and chances (Porter, 1998). Therefore, the practices of

Oscar Romero and Post Vatican II Church Essay Example | Topics and Well Written Essays - 1000 words

Oscar Romero and Post Vatican II Church - Essay Example Prior to these sessions, mass were conducted in a way that priests turned their backs to the congregation, modern forms were not accepted, masses were conducted in Latin language only, and sacraments were not updated or simplified. The council introduced new documents which saw landmark transformation of the Catholic Church. (http://www.catholicnews.com/data/stories/cns/0505787.htm). Alters were altered, and priests were made to face the congregation, priesthood and religious life were renewed, liturgy was modernized, lay Catholics participation in church affairs was enhanced, Catholic church opened dialogue with other churches and non-Christians and the church was recognized as ‘the people of God’. Way was given for people around the world to conduct masses in their vernacular language. All these changes were not immediate. This saw the church began a long and contentious process of every aspect of the Catholic Church. The council regarded this transformation as a way of opening dialogue with the modern world and facing modern challenges that were inevitable. It is believed that were it, not for these changes introduced by the Vatican II council, the church would be a small minority in the modern world. These transformations brought modern-day men and women nearer to the gospel and made the gospel important to them which was not the case before. One of the goals of the council documents was to enlighten the modern believers to see the world as an opportunity to announce the gospel and not a threat to the gospel. Prior to this, many catholic believers viewed the modern world as a threat to the gospel and existence of the church. These transformations greatly changed the spiritual view of the church. Another ongoing spiritual task since the inception of these transformations has been to enlighten the young generations not to see the Vatican as an ancient history of the church

The Liability of the Manufacturers and Their Conduct in Case of Essay

The Liability of the Manufacturers and Their Conduct in Case of Accidents - Essay Example Courts have considered on a case to case basis the liability of the manufacturers and their conduct in case of accidents. For instance, in the case of Messina v. Clark Equipment, 263 F.2d 291, C.A.2 1959, the Court dismissed the appeal in an action against the manufacturer of the earth mover in order to recover for machine operator’s death. In this case, the machine operator was killed while he was raising the scissor arms and bucket, and they had shut off the motor, and while doing this, he was actually getting out of cab when bucket fell causing him to be crushed between the scissor arms and the cab (Messina v. Clark Equipment 291). The Court dismissed the appeal because there was an absence of showing that there was indeed a hidden defect or concealed danger in earth mover (Messina v. Clark Equipment 291). It reasoned that under the New York law, a manufacturer has no duty to a remote user beyond the duty to keep the article of manufacture free from hidden defects or danger s (Messina v. Clark Equipment 291). Thus, if a remote user such as in this case, sues a manufacturer of an article for injuries suffered, he must allege and prove the existence of a latent defect or a danger not known to plaintiff or other users (Messina v. Clark Equipment 291). Citing the case of Campo v. Schofield, 301 N.Y. 468, 95 N.E.2d 802 (1950), the Court explained that, â€Å"If a manufacturer does everything necessary to make the machine function properly for the purpose for which it is designed, if the machine is without any latent defect, and if its functioning creates no danger or peril that is not known to the user, then the manufacturer has satisfied the law's demands.†

Teamwork Is the Best Way In Business Essay Example | Topics and Well Written Essays - 1250 words

Teamwork Is the Best Way In Business - Essay Example Even if companies implement the best human resource practices to prevent conflict within the teams they will occur and the managers and team leaders are responsible for finding ways to resolve these problems. Conflicts arise due to issues such as goal incompatibilities, resources scarcity, and interpersonal relationships. The way the work is structure is an element that affects the probability the manifestation of conflict. Workflow interdependencies are work designs that are subject to a high incidence of conflict. In such a setting there is a high degree of dependency between the work performed by different members, thus one person does not deliver on time or their quality of work is how it affects the other person. This is a breeding ground for conflict. The manager can design internal workflows in a way that the dependency among the members is reduced which will lower the incidence of conflict in a corporation. This can be achieved applying techniques such as decoupling or buffer ing. Decoupling is a technique that directly deals with confliction situation by reducing the required contact between conflicting parties. Buffering creates a work output inventory so that when these two groups that depend on each other work, the inventory serves as protection in case there is a delay of work in the system. There are several ways a manager can deal with conflict in order to find a prompt resolution to the situation. Five approaches that utilize in the industry to deal with conflict are accommodation, compromise, avoidance.

Ational aconomy Essay Example for Free

Ational aconomy Essay A joint venture is a partnership created by agreement between the parties to share in the losses and profits of the venture. But it is unlike a partnership in that the venture is for one specific project only, rather than for a continuing business relationship. If we speak about two great artists: Anrie Matisse and Pablo Picasso the idea about their joint venture could be expressed in the words: â€Å"History of success or How they never worked together but influenced upon each other†. When Picasso met Matisse, his French was poor and he was not so experiencied as his older college. Fernande Olivier said: Matisse, beaucoup plus age, serieux circonspect, navait pas les idees de Picasso. Pole Nord et Pole Sud , disait-il en parlant deux deux. He characterized Matisse in those words: Le type du grand maitre: visage aux traits reguliers, a la forte barbe doree, Matisse etait sympathique. Il semblait cependant se derober derriere ses grosses lunettes, reservant lexpression de son regard mais parlant longuement des quon lentreprenait sur la peinture. Il discutait , affirmait, voulait convaincre. Il avait deja pres de 45 ans, tres maitre de lui a lencontre de Picasso, timide, toujours un peu maussade et gene dans ces sortes de reunions. Matisse brillait et simposait. Ils etaient les deux artistes de qui on attendait le plus. Leo Stein, collector and mecenate said that disorder and dust (â€Å"le desordre et la poussiere†) was usual medium for Picasso versa order and calms (â€Å"lordre et le calme†) for Matisse. They were competitors but they were were friendly competitors. Matisse’s focus was color and lines while Picasso put form above all. And it is so strange to read words of some art experts (Robert Rosenblum) about their competition: â€Å"This is like the heavyweight championship of the art world†¦ like the battle of the titans, like the Montagues and Capulets. One of the exciting things about it is the friction, the rivalry, the give and take. † Well, what art production was the result of two or more artists working together as a joint venture? Historically the first examples of joint venture were seven wonders of the ancient world. I can not recollect names of all authors of the Great Pyramids at Giza, the Hanging Gardens at Babylon, the Statue of Zeus at Olympia, the Temple of Artemis at Ephesos, the Mausoleum at Halicarnassus, the Colossus of Rhodes and the Pharos (Lighthouse) at Alexandria. Nobody can. But I should try. The biggest and the most successful project is Khufu’s pyramide. So, what parties we have in this joint venture? Producer and general director: Great King Pharao Khufu. Architect and executive director – Khimeun. Other participanys: hundreds of unknown artists. Tourists want to look at this specimen of ancient art and they ready to pay for this pleasure. Some kinds of arts are syntetic by their nature. Like opera, which is â€Å"a drama set to music and made up of vocal pieces with orchestral accompaniment and orchestral overtures and interludes† (www. m-w. com). So several persons participate in developing opera: composer and conductor (music), writer (libretto), scenograph and director (performance). Success of the performance depends not only on music or text but on every participant. Painters usually work independently. Leonardo da Vinchi made picture Babtize of Christ (Andre Veroneze’s workshop) to be more expensive when he put his hand to an angel and landscape. But when young Leonardo worked with Veroneze he was only his apprentice. Some artists created consortium which became brend name of their production. Soviet caricaturists Kupriyanov Mikhail, Krilov Porfiri and Sokolov Nikolay were teamed up during second world war and their caricaturs signed as KUKRINIKSI. Work in harmony – is ideal. But artist team creates atmosphere of inspiration which helped individuals to produce true chedevre. â€Å"This was a project conceived of with joy and optimism, it was carried out with faith and love faith that we could, as a team, work collectively to create something much greater than each of us individually and love because thats why we make street paintings we love what we do. † – these words of participant of street painting festival demonstrated advantages of team work and joint venture in the art. So, the oldest story is relationship of master and apprentice. The apprentice system, through which new artists learned the trade ensured that styles of art were continued from master to apprentice. An apprenticeship was an obligation of future painter members and normally lasted from four to six years. This period spent in a recognized master painters workshop insured the young artist a thorough familiarization with the complexities of his craft. Laborious task like hand grinding of mineral paints was often left to the apprentice. In the masters studio the apprentice was exposed to the many thoughts, opinions and artistic theories which circulated with great fluency from one artists studio to the others. Painters studios were often lively places frequented by artist, patrons and men of culture. Animated artistic debates as well as exchanges of information concerning the art market were the norm. The apprentice, within the space of a few years, was personally exposed to an endless stream of ideas and information which passed every day through the masters studio. He was allowed to work on the less important areas of the masters own paintings such as large areas of unmodulated color or monotonous areas of foliage in the background. The master closely followed his pupils progress and corrected him when needed. Some extremely talented artists were able to leave the masters studio within a few years. Rembrandt progressed so rapidly that he already had pupils of his own at the age of 21. An apprentices first tasks were humble: sweeping, running errands, preparing the wooden panels for painting, and grinding and mixing pigments. As the apprentices skills grew, he would begin to learn from his master: drawing sketches, copying paintings, casting sculptures, and assisting in the simpler aspects of creating art works. The best students would assist the master with important commissions, often painting background and minor figures while the Master painted the main subjects. The few apprentices who showed amazing skill could eventually become masters themselves. A very few became greater artists than their masters. As the apprentices skills improved he worked on the more complex areas such as drapery and the secondary objects seen in the painting. Once the apprentice had gained sufficient mastery, he was allowed to conceive and execute his own paintings, but could neither sign nor sell them. This could be done only after he had undergone the entrance exam of the guild. Another advantage of being a guild member was permission to sell paintings of other artists as well in order to increment his earnings. It’s very difficult to call this relationship true joint venture. But we could find some parallels in the modern business. For example iFIDs. com is a joint-venture partnership between Thunder Bay International Airport Inc. and Aviation InterTech. iFIDs. com came about when the airport went looking for a flight information display system for the terminal to fit their budget and Aviation InterTech came up with a low-cost Internet-based solution. Another axample: the joint venture have been formed recnetly between BBC Worldwide Americas Inc. (BBCWA) and New York merchant banking firm Veronis Suhler. The venture will initially focus on acquiring consumer lifestyle and informational publishing properties with cross-media expansion potential. It incorporated the BBC’s existing and future North American businesses in publishing including video, books and magazines. The 50/50 joint venture is being capitalized at $100 million of equity, with significant purchasing power beyond this. The company will be managed jointly by both partners. You see: joint venture in the art is always virtual. But JV in the business – is very important part of world and national aconomy.

Active Sports on Holidays Essay Example for Free

Active Sports on Holidays Essay The best-known from of this sport holiday is undoubtedly the skiing holiday. Skiing can pursued at different levels (beginner, experienced, simply for pleasure, or in pursuit of high performance and excellence ), by different age groups, and in different settings- at a ski school, a ski coursxe, a ski clup, or privately. Skiing is the classic example of sport tourism and the most populer of all winter sports activities. Every year it introduces 40-50 million visitors to the Europen Alps, with 40,000 ski runs and around 12,000 cable ways and lifs to support this popular holiday industry (Mader, 1998). From Britain alone it is estimated that around 653,000 people took ski holidays worth some US$321 million in 1991-92(Mintel international Group, 1992).0 the ski market is now said to account for around 20 percent of the total European holiday market. In the last 25 years the holiday market for winter sports has expanded to the extent that there are now holiday packages to suit many tastes and financial means. Skiing is no longer the preserve of high-altitude dwellers,nor is it limited to the rich and famous. Increasingly, with the provision of self-catering chalets and camp sites to complement hotels and clubs,millions of people throughout the has developed world can enjoy touristic experience of mountain beauty at the same time as learning to ski on all five continents of the world. Cross-country skiing,sometimes known as Nordic skiing or langlauf, has also become very popular. Because this sporth activity is easy learned and the equipment is less expensive than required for downhill skiing, it is practiced by many sportists. The fact that beginners can,from day one,enjoy langlauf in a circuit of loipe(i.e., twin-grooved tracksz) integrated in the countryside and free of the use of ski lifts are but two strong point of this sport(Clough, 1989). Snowshoes are the hottest new trend in winter recreation. Accourding to Schwiesow(1995), snowshoeing is the second fastest-growing winter sport behind snowboarding as outdoor enthusiasts for simpler, more convenient ways toget outside during the winter. Some other new trends are dogs sledding and ice fishing. Many of the best known winter sport resorts in the United States and Canada have at least one dog sled tour company from which to choose. Alaska is provably the best known place for dog sledding, the state’s official sport ( Sloan, 1995). Ice fishing is popular in Minnesota ;there are plenty of companies that will rent huts by the day, week or mount (Sloan, 1995 ). The model of the skiing holiday (that is,a holiday with a single sport as the primary intetion-offered an different levels to different age groups and under different organization forms ) has recently been adopted by varios other forms of sport. Holiday concerns, holiday organizations, (cultural ) societes, and private sport schools now provide holiday courses in sailing, gliding, riding, golf, driving, cycling, mountaineering, surfing and so forth. Cycling tours often follow the ski-holiday model. Nowdays there are hundreds of cycling holidays on offer, of all lengths, levels, and degrees of comfort. Some are organized by well-known cyclist, but very often people decide to organize their cycling holiday themselves. Cycle-friendly countries are growing in number. The world’s most cycle-friendly country is probably the Netherlands due to its low, flat physical characteristics. Bike paths are provided all over the Netherlands from the smallest village to the biggest town. Cycle weekends are also offered by youth organizations, communities, tourist boards, hotels, and so forth. Hotels especially are trying to reach the cycle tourists by offering half or full board, bike hire, and route maps, this is called a single-center or fixed point holiday because the tourists is based at one hotel orcampsite and takes day rides out from there to explore the surroundings. Some hotel chains offer hotel-to-hotel tours with accommodations each night in a different hotel; the luggage is transported by the hotel manager. More sophisticated are those bicycle tours that include not only a guide, but also a bicyle technician, a medical doctor, and support vehicle ( Cample, 1995 ). It is possible to take a cycling tour almost anywhere in the world. Reputable companies throughout North America and Europe operate bycling tours China, Africa, Vietnam, Pakistan, Sri Lanka, Bali, and Thailand, an deven high-altitude regions such as the Atlas Mountains and Tibet. Since the mid-1960s, the bicyle has divided into subspecies of racers, mountain bikes, toures, and hybrids. All-terrain bycling has become one of the fastest growing segments of the recreation industry. Sales of all-terrain bicycles in North America skyrocket from 300,000 bicycles in 1984 to over 2 million in 1986 ( Crandall, 1987 ). At the January 1998 London International Boat Show, the assembled boat builders acknowledged that their industry is facing worldwide problem, a declining interesting in boating:46 percent of sailorsand 35 percent of motor boaters are now over 55 years of age, and boating magazine subscriptions are down by 20 percent in six years. The problem is not limited to Great Britain-the downward trend is acute in the United States, home of the world’s biggest boat industry. In the last decade, turnover in the United States has fallen from $10 million to $8 million, an deven trough â€Å"recreational spending has grown by more than 50 percent in seven years,†¦ boating’s share has shrunk from 3.7 percent to 2.1 percent† ( Groom, 1998, p. 1 ). In 1984, owning a boat was sixth on a wish list of American consumer preferences, but by 1996 it became the 15th. Nevertheless, the link between water sports and holidays is increasing with sailing becoming a very popular holiday activity. The use of smaller and more easily transportable craft, such as dinghy car-toppers, jet skis, and windsurfes, has increased and together with multihulled and chartered cruisers these crafts provide for a wide range of interests. While the Caribbean and the Mediterranean are the most popular seas, it is now possible to charter yachts in the South Pacific, the Seychelles, Australia, Alaska, Brazil, Thailand, and the Galapagos Islands ( Robinson, 1984 ). Martin and Mason’s survey ( 1990 ) indicates that between 1.5 and 2 million people take part in water sports while on holiday in Britain. Britain has been described as a mecca for boating holidays on the country’s two thousand miles of inland waterways each year ; about 87 percent are U.K. residents and 13 percent are inbound tourists principally from Europe ( Hhoseason, 1990 ). A 1986 survey (veal, 1986 ) found that over half of those who take part in sailing do so only when on holiday. Also worth mentioning here are the old, great clipper ships thar a century or mre ago sailed around the world. The Mediterranean and the Caribbean are popular ports for such ships as the Star Clipper, the Star Flyer, the Windstar, and Clup Med’s two play boats. On some, visiting â€Å"crews† learn to navigate and handle the sails. Valef Yachts, a Greek company, advertises â€Å" a vacation fit for a million-aire,† offering its Christina I for around US$100,000 per week for 12 people, none of whom need to have previous yachting experience. With a crew of nine, it has acruising range of 9,500 kilometers of Mediterranean water and includes its own private speedboat for water skiing, a small sailboat,and aWindsurfer for exploiring the Greek islands ( Richins, 1992 ) New sports are constantly developing and tourist are continuously in search of new thrills and experiences. One of these is body-boarding, broadly practiced in Australia, NEW Zealand, and the U.S states of Hawaii and California. The Atlantic coast in France is visited by an increasing amount of tourist who want to body-board and surf.

The Three Main Goals Of Research Psychology Essay

The Three Main Goals Of Research Psychology Essay Research is the examination of a particular topic using a diversity of reliable, scholarly resources. The three main goals of research are establishing facts, analyzing information, and reaching new conclusions. The three main actions of doing research are searching for, reviewing, and assessing information. This KAM will examine the different research paradigms available for my study. The paradigms will be compared and contrasted against other research methods that are available in order to determine which the best methods to use are. There are many different paradigms available which include: the positivist/empiricist view, the constructivist/naturalist worldview and the pragmatic model. Abstract Depth There are many research paradigms and research methods available to be used by researchers depending on the nature of the study that is being undertaken. This thesis paper on the depth component explores the strengths and weaknesses of each paradigm and outlines the key research methods that can used to ensure successful use of the approach. The depth portion will include the traditional annotated bibliography addressing the research paradigms and their use in accounting research. This report employs secondary research on the internet and most of the information gleaned is from the content and literature. Additionally this paper lays the grounds for further research in research methods and their uses. Abstract Application In the application section both the breadth and depth will be brought together with other research in regards to developing or discussing uses of the different research paradigms. The breadth section of this thesis paper will lay out in detail all of the available research paradigms and how the relate to accounting research. When looking at these paradigms this paper will try to focus on the one that will be chosen for my research, and how it compares and contrasts to the rest. This paper will particularly detail the chosen research paradigm and how it relates to the concept of auditing practices and their effects on the corporate governance of a company with a conceptual focus on international accounting principles. This report employs secondary research on the internet and most of the information gleaned is from the content and literature from non-profit organizational case studies, applications and on-going research on auditing practices on an international level. Breadth Section Organizations use research, especially in market research activities. Market research is used to identify potential markets, the needs and wants of each, how those needs and wants can be met, how products and services could be packaged to be most accessible to customers and clients, the best pricing for those products and services, who the competitors are and how best to complete against each, potential collaborators and how to collaborate with each and many other applications of research. Organizations can conduct this research without having to have advanced skills (Free Management Library, n.d.). Academic research is research and development (RD) undertaken in the higher education sector, including universities, polytechnics, etc., and research centres that have close links with higher education institutions. Higher education research has grown during the past 20 years. Between 1981 and 2003, the share of RD carried out by the higher education sector increased from 14.5% to 17.4% of the total RD effortà ¢Ã¢â€š ¬Ã‚ ¦(Vincent-Lancrin, 2006, p. 170). Drivers of this growth include professionalization of the academic profession (including specialization and standardization of the trade), the importance of the quantitative research output in academic career paths and the emergence of strong external incentives to publish following the introduction of research assessment exercises in several countries. The well-known publish or perish rule is rather recent (Vincent-Lancrin, 2006). Research Paradigms A paradigm offers a theoretical framework for seeing and making sense of the social world. The implication of paradigms is that they shape how one sees the world and are reinforced by those around us and the community of practitioners. Contained by the research process the attitudes a researcher holds will reflect in the manner they research is planned, how data is both gathered and analyzed and how research results are presented. For the researcher it is significant to distinguish their paradigm, it permits them to identify their role in the research process, decide on the course of any research project and differentiate other perspectives (Methodology, n.d.). There are numerous research paradigms that are used across and within different disciplines. These include (a) the positivist/empiricist view, which supports the use of quantitative methods, (b) the constructivist/naturalist worldview, which supports the use of qualitative methods, and (c) the pragmatic model, which supports the use of quantitative, qualitative, or a combination or mix of both methods (Tashakkori Teddlie, 1998). Other paradigms that will be looked at in this paper include post-positivism and interpretivist view. Paradigms guide how we make decisions and carry out research. As a researcher, it is important to know where ones discipline belongs, that there are different ways of viewing the world and that ones approach to knowledge is one of many. Paradigms can be characterized through their: ontology (What is reality?), epistemology (How do you know something?) and methodology (How do go about finding out?). These characteristics create a holistic view of how people view knowledge: how they see themselves in relation to this knowledge and the methodological strategies they use to discover it (What is your paradigm, n.d.). Positivist/empiricist View The positivist paradigm of exploring social reality is based on the philosophical ideas of the French Philosopher August Comte. According to him, observation and reason are the best means of understanding human behaviour; true knowledge is based on experiences of sense can be obtained by observation and experiment. At the ontological level positivists assume that the reality is objectively given and is measurable using properties what are independent of the research and his or her instruments; in other words, knowledge is objective and quantifiable. Positivistic thinkers adopt scientific methods and systemize the knowledge generation process with the help of quantification to enhance precision in the description of parameters and the relationship among them. Positivism is concerned with uncovering truth and presenting it by empirical means (Research Methodology and Design, n.d.). Using scientific method and language to investigate and write about human experience is supposed to keep the research free of the values, passions, politics and ideology of the researcher. This approach to research is called positivist, or positivist-empiricist and it is the dominant one in social research. Positivist researchers believe that they can reach a full understanding based on experiment and observation. Concepts and knowledge are held to be the product of straightforward experience, interpreted through rational deduction (Ryan, n.d.). According to the positivist epistemology, science is seen as the way to get at truth, to understand the world well enough so that it might be predicted and controlled. The world and the universe are deterministic; they operate by laws of cause and effect that are discernable if we apply the unique approach of the scientific method. Thus, science is largely a mechanistic or mechanical affair in positivism. Deductive reasoning is used to postulate theories that can be tested. Based on the results of studies, we may learn that a theory does not fit the facts well and so the theory must be revised to better predict reality. The positivists believe in empiricism, the idea that observation and measurement are at the core of the scientific endeavor. The key approach of the scientific method is the experiment, the attempt to discern natural laws through direct manipulation and observation (Krauss, 2005). The social scientist must study social phenomena in the same state of mind as the physicist, chemist or physiologist when he probes into a still unexplored region of the scientific domain. Objectivity is then defined by being the same as that of natural science and social life may be explained in the same way as natural phenomena. This tradition may therefore be characterized in terms of the prediction and explanation of the behaviour of phenomena and the pursuit of objectivity, which is defined as the researchers detachment from the topic under investigation. The results of research using this method of investigation are then said to produce a set of true, precise and wide-ranging laws (known as covering laws) of human behaviour. We would then be able to generalize from our observations on social phenomena to make statements about the behaviour of the population as a whole. Positivism thus explains human behaviour in terms of cause and effect and data must then be collected on the s ocial environment and peoples reactions to it (May, 2001). In its broadest sense, positivism is a rejection of metaphysics. It is a position that holds that the goal of knowledge is simply to describe the phenomena that we experience. The purpose of science is simply to stick to what we can observe and measure. Knowledge of anything beyond that, a positivist would hold, is impossible. predict how people will behave everything else in between (like what the person is thinking) is irrelevant because it cant be measured. Positivists believe that reality is stable and can be observed and described from an objective viewpoint, without interfering with the phenomena being studied. They contend that phenomena should be isolated and that observations should be repeatable. This often involves manipulation of reality with variations in only a single independent variable so as to identify regularities in, and to form relationships between, some of the constituent elements of the social world (Positivism Post-Positivism, 2006). In empiricism knowledge is only validated through sense experience, or in more recent versions through the surrogates of scientific instrumentation (which in the social sciences would include survey questionnaires and interview data). Its importance to scientific method in the natural and social sciences lies in the centrality of emphasis placed on empirical hypothesis testing. Thus if we formulate a hypothesis such as industrialization leads to worker alienation, this is only meaningful if it can be verified empirically; anything less is metaphysical speculation. Moreover empiricists (unlike realists) eschew claims of causal necessity, because (after Hume) it is maintained that although event A may precede event B in time, we cannot be sure A brought about B. In social science this principle is exemplified by the social survey where the strength and direction of association between variables is expressed, but no necessary function claimed (Williams, 2006). Post- Positivism Post-positivism is a wholesale rejection of the central tenets of positivism. A post-positivist might begin by recognizing that the way scientists think and work and the way we think in our everyday life are not distinctly different. Scientific reasoning and common sense reasoning are essentially the same process. There is no difference in kind between the two, only a difference in degree. Scientists, for example, follow specific procedures to assure that observations are verifiable, accurate and consistent. In everyday reasoning, we dont always proceed so carefully (Positivism Post-Positivism, 2006). Constructivist/Naturalist Worldview Constructionism is a perspective that considers facts, descriptions and other features of objective reality to be inescapably contingent and rhetorical. This is a more recent formulation of constructionism (without the social) which follows the traditional view of social constructionism as a perspective wherein people are seen as produced (constructed) through social interaction rather than through genetic programming and biological maturation (Hepburn, 2006). Naturalism is the hypothesis that the natural world is a closed system in the sense that nothing that is not a part of the natural world affects it. More simply, it is the denial of the existence of supernatural causes. In rejecting the reality of supernatural events, forces, or entities, naturalism is the antithesis of supernaturalism (Augustine, 2012). The naturalist or constructivist view says that knowledge is established through the meanings attached to the phenomena studied; researchers interact with the subjects of study to obtain data; inquiry changes both researcher and subject; and knowledge is context and time dependent (Krauss, 2005). Constructivists maintain that scientific knowledge is constructed by scientists and not discovered from the world. Constructivists argue that the concepts of science are mental constructs proposed in order to explain sensory experience. Another important tenet of Constructivist theory is that there is no single valid methodology in science, but rather a diversity of useful methods. Constructivism is opposed to positivism, which is a philosophy that holds that the only authentic knowledge is based on actual sense experience and what other individuals tell us is right and wrong (Guba Lincoln, 1994). Pragmatic View The pragmatic approach to science involves using the method which appears best suited to the research problem and not getting caught up in philosophical debates about which is the best approach. Pragmatic researchers therefore grant themselves the freedom to use any of the methods, techniques and procedures typically associated with quantitative or qualitative research. They recognize that every method has its limitations and that the different approaches can be complementary. The pragmatic approach to science involves using the method which appears best suited to the research problem and not getting caught up in philosophical debates about which is the best approach. Pragmatic researchers therefore grant themselves the freedom to use any of the methods, techniques and procedures typically associated with quantitative or qualitative research. They recognize that every method has its limitations and that the different approaches can be complementary. Being able to mix different approa ches has the advantages of enabling triangulation. Triangulation is a common feature of mixed methods studies. It involves, for example: the use of a variety of data sources (data triangulation) the use of several different researchers (investigator triangulation) the use of multiple perspectives to interpret the results (theory triangulation) the use of multiple methods to study a research problem (methodological triangulation) (The four main approaches, 2012). Research is a necessary ingredient for a knowledge-based society, which includes a knowledge-based economy and its growth. A professional publication process is indispensable for the dissemination of knowledge and the advancement of knowledge through further, innovative research. These goals of publishing are best reached by means of an open access publishing business model. It is essential that open access becomes the standard and does not remain the exception. Open access publishing should become a requirement for publicly funded research. In order to make open access publishing a success, the enthusiastic cooperation of the professional publishing companies active on the market is highly desirable (Engelend, 2011). Interpretivist View Interpretive researchers believe that reality consists of peoples subjective experience of the external world; thus, they may adopt an inter-subjective epistemology of the ontological belief that reality is socially constructed. Some believe that interpretivists are anti-foundationalists who believe that there is no single correct route or particular method to knowledge. It has also been argued that in the interpretive tradition there are no correct or incorrect theories. Instead, they should be judged according to how interesting they are to the researcher as well as those involved in the same areas. They attempt to derive their constructs from the field by an in-depth examination of the phenomenon of interest. Interpretivists assume that knowledge and meaning are acts of interpretation, hence there is no objective knowledge which is independent of thinking, reasoning humans (Research Methodology and Design, n.d.). The interpretivist research paradigm emphasizes qualitative research methods, which are flexible, context sensitive and largely concerned with understanding complex issues. Researchers widely debate how the trustworthiness of interpretivist research efforts is evaluated. Positivist researchers, who emphasize the issues of validity, reliability and generalizability, often regard qualitative research methods as unscientific. Several researchers suggest new criteria for evaluating qualitative enquiry and many different approaches to evaluating qualitative research have been discussed in the literature (Carcary, 2009). In the interpretivist paradigm, the researcher is not perceived as being entirely objective; rather he/she is a part of the research process. Interpretivism recognizes the difficulty in making research value-free and objective. In terms of this view, a single objective reality does not exist. The social world does not lend itself to being understood by physical-law-like rules. Multiple realities need to be considered. These include an external reality, which is what actually occurred in the physical world, and internal realities, which are subjective and unique to each individual. Because each situation is different, the researcher needs to delve below the surface of its details to understand the reality. The meaning derived by the researcher is a function of the circumstances, the people involved and the broad interrelationships in the situations being researched (Carcary, 2009). The interpretivist paradigm emphasizes qualitative research methods where words and pictures as opposed to numbers are used to describe situations. In qualitative research, the researcher is actively involved and attempts to understand and explain social phenomena in order to solve what Mason (2002:18) calls the intellectual puzzle. It relies on logical inference (Hinton et al, 2003) and is sensitive to the human situation as it involves dialogue with informants. In general, the researcher collects large quantities of detailed evidence. Thus, qualitative research may achieve depth and breadth. Further, qualitative methods are useful when the researcher focuses on the dynamics of the process and requires a deeper understanding of behaviour and the meaning and context of complex phenomena. It is the most appropriate approach for studying a wide range of social dimensions, while maintaining contextual focus (Mason, 2002). Conducting qualitative research requires considerable reflection on the researchers part, and the ability to make a critical assessment of informants comments. It involves debating the reasons for adopting a course of action, challenging ones own assumptions and recognizing how decisions shape the research study (Carcary, 2009). Once a paradigm for research is chosen one must then decide on which research methods to employee in order to conduct their research. There are three different types of research methods that are available to those who are undergoing research. These include: quantitative, qualitative and mixed methods. These methods will now be explored in great detail throughout the rest of this paper. There have always been important differences between the research findings derived from quantitative research and those of qualitative research. The two methodologies have different approaches and their intended goals are not the same. In many ways, they also have competing visions of what constitutes truth. Despite these differences, however, the two methodologies often work in effective symbiosis with each other and each brings to the other a level of understanding that it would not otherwise achieve (Barnham, 2012). Quantitative Research Research involving the collection of data in numerical form for quantitative analysis. The numerical data can be durations, scores, counts of incidents, ratings, or scales. Quantitative data can be collected in either controlled or naturalistic environments, in laboratories or field studies, from special populations or from samples of the general population. The defining factor is that numbers result from the process, whether the initial data collection produced numerical values, or whether non-numerical values were subsequently converted to numbers as part of the analysis process, as in content analysis (Garwood, 2006). Quantitative research tends to be associated with the realist epistemology, the approach to knowledge that maintains that the real world exists, is directly knowable (although not necessarily at this moment) and that the real world causes our experiences. That is, real things exist, and these can be measured, and have numerical values assigned as an outcome measure, and these values are meaningful. These values can only be meaningful if researchers accept some of the criteria associated with the positivist standpoint (Garwood, 2006). Gaining numerical materials facilitates the measurement of variables and also allows statistical tests to be undertaken. For example, descriptive statistics can be used to illustrate and summarize findings, detect relationships between variables, as in correlation coefficient values, or inferential statistical analysis can be undertaken to establish the effects of different interventions, as in analysis of variance, analysis of covariance and multivariate analysis of variance. Interactions between variables can also be investigated within experimental designs and also as part of the analysis of data from surveys or secondary sources. Changes over time can be more easily tracked using quantitative methods, as measures of the same properties can be taken at several points during an intervention (Garwood, 2006). Quantitative studies provide data that can be expressed in numbers-thus, their name. Because the data is in a numeric form, we can apply statistical tests in making statements about the data. These include descriptive statistics like the mean, median, and standard deviation, but can also include inferential statistics like t-tests, ANOVAs, or multiple regression correlations (MRC). Statistical analysis lets us derive important facts from research data, including preference trends, differences between groups, and demographics (McClain, 2012). Quantitative research design is the standard experimental method of most scientific disciplines. These experiments are sometimes referred to as true science, and use traditional mathematical and statistical means to measure results conclusively. They are most commonly used by physical scientists, although social sciences, education and economics have been known to use this type of research. It is the opposite of qualitative research. Quantitative experiments all use a standard format, with a few minor inter-disciplinary differences, of generating a hypothesis to be proved or disproved. This hypothesis must be provable by mathematical and statistical means, and is the basis around which the whole experiment is designed. Randomization of any study groups is essential, and a control group should be included, wherever possible. A sound quantitative design should only manipulate one variable at a time, or statistical analysis becomes cumbersome and open to question. Ideally, the research should be constructed in a manner that allows others to repeat the experiment and obtain similar results (Shuttleworth, 2008). Qualitative Research Qualitative research is a situated activity that locates the observer in the world. Qualitative research consists of a set of interpretive, mate ­rial practices that make the world visible. These practices transform the world. They turn the world into a series of representations, including field notes, interviews, conversations, photographs, record ­ings, and memos to the self. At this level, qualitative research involves an interpretive, naturalistic approach to the world. This means that qualitative researchers study things in their natural settings, attempt ­ing to make sense of, or interpret, phenomena in terms of the mean ­ings people bring to them (Denzin Lincoln, 2011, p.3) Qualitative research is not a single set of theoretical principles, a single research strategy or a single method. It developed in the nineteenth and twentieth centuries, across a range of disciplines, on varied and sometimes conflicting philosophical and theoretical bases, including cultural anthropology, interpretive sociologies (such as symbolic interactionism), phenomenology and, more recently, hermeneutics, critical theory, feminism, post-colonial theory, cultural studies, post-structuralism and postmodernism. These diverse approaches inevitably give rise to substantial differences and disagreements about the nature of qualitative research, the role of the researcher, the use of various methods and the analysis of data (Sumner, 2006). However, qualitative research is often based upon interpretivism, constructivism and inductivism. It is concerned to explore the subjective meanings through which people interpret the world, the different ways in which reality is constructed (through language, images and cultural artifacts) in particular contexts. Social events and phenomena are understood from the perspective of the actors themselves, avoiding the imposition of the researchers own preconceptions and definitions. There is also often a concern with the exploration of change and flux in social relationships in context and over time (Sumner, 2006). The methods used in qualitative research, often in combination, are those which are open-ended (to explore participants interpretations) and which allow the collection of detailed information in a relatively close setting. These methods include depth interviewing, ethnography and participant observation, case studies, life histories, discourse analysis and conversational analysis. It is in the nature of qualitative research, with its emphasis on depth and detail of understanding and interpretation, that it is often small-scale or micro-level (Sumner, 2006). According to Glesne (2006), qualitative methods strive to understand some type of social phenomena through the perspectives of the individuals involved. Two major assumptions include a predisposition that reality is socially constructed and that the variables in a situation are highly complex, interwoven and difficult to measure. The purpose of such research is to contextualize, understand and interpret a situation. Typically, qualitative research begins with some type of inductive inquiry, resulting in a hypothesis or participant generated theory. The researcher is considered the main instrument in a setting that is as naturalistic as possible. The methods involved require a high level of descriptive writing and attention to detail. Moreover, a significant amount of time to collect and process the data is required. The researcher is directly involved with the research in a personal way. The various methodologies of qualitative inquiry allow a researcher to choose a strategy that is best suited for his or her purpose. Examples of qualitative research include ethnographies, grounded theory, case studies, phenomenologies and narratives (Designing a Qualitative Study, n.d.). Each methodology relies on specific protocols such as interviews, observations, content analysis, fieldwork, video and audio-taped transmissions, surveys or open-ended questionnaires. Data resulting from qualitative research should be thick in description, meaning that it go beyond surface explanation, expressing in-depth understanding not possible with quantitative methods. The methods of qualitative research are concerned with process, or how something occurs within the confines of the inquiry. The researcher constructs, analyzes and interprets data in a non-linear, non-chronological fashion (Szyjka, 2012). Participant Observation One of the most frequently used methods for qualitative data collection is participant observation, which is also one of the most challenging. It necessitates that the researcher become a member of the culture or context that is being observed. The literature on participant observation discusses how to penetrate the context, the function of the researcher as a participant, the compilation and storage of field notes, and the examination of field data. Participant observation frequently requires months or years of concentrated work because the researcher needs to become accepted as a normal part of the culture in order to guarantee that the observations are of the natural occurrences (Qualitative Methods, 2006). Advantages These include that it affords access to the backstage culture; it allows for richly detailed description, which they interpret to mean that ones goal of describing behaviors, intentions, situations, and events as understood by ones informants is highlighted; and it provides opportunities for viewing or participating in unscheduled events. It also improves the quality of data collection and interpretation and facilitates the development of new research questions or hypotheses (Kawulich, 2005). Disadvantages Disadvantages include that sometimes the researcher may not be interested in what happens out of the public eye and that one must rely on the use of key informants. Different researchers gain different understanding of what they observe, based on the key informant(s) used in the study. Problems related to representation of events and the subsequent interpretations may occur when researchers select key informants who are similar to them or when the informants are community leaders or marginal participants. To alleviate this potential bias problem, it has been suggested that pretesting informants or selecting participants who are culturally competent in the topic being studied (Kawulich, 2005). Direct Observation Direct observation is notable from participant observation in a number of ways. First, a direct observer doesnt characteristically try to become a participant in the environment. However, the direct observer does attempt to be as inconspicuous as possible so as not to prejudice the observations. Second, direct observation proposes a more disconnected perspective. The researcher is observing rather than taking part. As a result, technology can be a helpful part of direct observation. For example, one can videotape the occurrence or observe from behind one-way mirrors. Third, direct observation tends to be more centered on participant observation. The researcher is viewing certain sampled circumstances or people rather than trying to become engrossed in the complete context. Finally, direct observation tends not to take as long as participant observation. For example, one might observe interactions among people under specific conditions in a laboratory setting from behind a one-way mir ror, looking particularly for any nonverbal cues that are being used (Qualitative Methods, 2006). Advantages Simply observing people bypasses all the prob