Hilton Hotels Corporation Marketing Analysis Essay

The marketing issues addressed here are focused on how to draw more consumers from other gambling casinos, and how to make Hilton a resort destination. Two-thirds of Hilton’s total operating earnings in the early 1990’s were derived from the four casinos they owned in Las Vegas, Nevada. Expanding on this idea will ensure the hotel chain firmly plants its feet in the entertainment and resort business (Hilton Case Study). By investing massive amounts of revenue into developing their gaming division, the Hilton will become a destination resort that would encompass of all the guest’s needs to keep them interested staying within the confines of the resort. Some considerations include how Hilton would get its market share of the billions of dollars in casino revenues. The percentage of gambling versus side attractions will influence the profit margins, depending on how much focus is placed on each area. The hotel chain can also strive to increase its overall occupancy rate of seventy percent while continuing to set the industry benchmark (Hilton Case Study). In researching how to improve marketing to attract customers, we must first look at where the Hilton stands today. Second, we must analyze what has worked in the past and see if we can apply past practices into the current market. Third, we shall look at how the competitors are more effective by looking at their gaming plans, marketing structure, customer’s spending habits and dollar/cost value based on guest surveys. Hilton entered the gaming market as an attempt to compete with the other big hotels for the gambling dollar. Investments in renovation and expansion caused Hilton to over- extend. Although the investments were needed to compete, the hotel chain felt it needed to lure big money to its locations, and extend credit more than usual. Heavy hitters receive this same courtesy from other hotels, but this puts a strain on the operating cash flow, as chasing bad credit costs money, and slows up cash flow. Gaming revenue was already down, which was attributable in part to renovation and more so to extended credit that had been difficult to reclaim. In today’s market, families are a prime target. Big beautiful hotels are  catering to families all along the Las Vegas strip. Gambling is still the main focus, but today’s gambler is more inclined to visit the â€Å"Casino Resort†, a place that the kids can stay, have a good time and be entertained. Meanwhile, the parents can drop next months mortgage money at the casino. This type of package appeals to the whole family. As far as quality of service, no one does it better than Hilton, because they create an environment that the customer, family or non-family guests will remember and to which they will want to return. The focus on entertainment is important, but Las Vegas is still â€Å"sin-city†. Three point six billion dollars have been spent in packaging entertainment; focus on the family is important, but a balance of adult-only and child-friendly entertainment is required. Gambling is the central purpose for casinos to exist. Continue to market the standard tables of chance, card tables, slot machines, and lavish floor shows, with headliners people recognize, and the main source of revenue will continue to flow. Have shopping, kids activities, and outdoor recreation available, but not as the focus of why travelers should visit, and that will provide entertainment for the rest of the family. Hilton should pull back the extended credit. By doing so, they may lose a few customers, but the resulting loss of risk will increase bottom-line profit. By changing the focus to families, the customers that discontinue patronizing the hotel for credit line reasons are not the desired target anymore. The chain should pay more attention to the middle-market segment, conventions, and sporting events such as youth tournaments and professional venues. In volume, the more people that move through the doors, the more money there is to be made. With this said, room rates must stay within the $100.00 a night rate with weekend promotions of Thursday through Sunday at a lower rate; perhaps 25% to 35% lower. This would be a novel concept, as the industry generally promotes lower room rates Monday through Thursday. The food and beverage structure should remain the same, as it has proven to be more than adequate and very popular. The increase in competition can be dealt with through better values in room rates, children’s activities, slot machines that pay off more frequently and the most important aspect of the business, service. Hilton could offer something that the other hotels do not: ensuring the employee responses to each customer’s needs are met with enthusiasm and expedience. People are paying for an experience along with the opportunity to break the house; give them what they are looking for. Word of mouth is far more powerful than any media advertisement. Hilton has entered the gaming industry. Gaming must focus on gambling and hotel must focus on hotel amenities and service. It would be the hotel’s responsibility to insure the entertainment, promotions and accommodations were settled; leaving the gaming operations to generate gaming interest. Advertising would be a joint effort, but casino operations would focus on the age 21 and older market. The two operations would report to the Chief Executive Officer and his staffs to ensure all objectives are met. It would be the CEO and staff’s responsibility to ensure both lines were working hand-in-hand, while maintaining separate operations. The purpose for this suggestion is to keep revenues separate so one function does not bear the full brunt of any losses that may occur. The casino will always show a bigger profit than the hotel, but by having separate bottom lines, profit and losses are easier to control. The hotel/casino is one business, but must have two different mindsets as the casino and hotel does, and will operate much differently. Situational AnalysisThe U.S. based Hilton Hotels Corporation is a multi-billion dollar corporation and a leading brand in the hotel and gaming industry. Conrad Hilton started the company in 1919 with his first hotel purchase. Since then the company has grown to over 2,000 hotels globally, with several brand name acquisitions, including Bally’s, Hampton Inn, Doubletree Suites and Homewood Inn. Besides standard hotel service, the Hilton Corporation runs casinos, vacation ownership businesses and luxury hotels, like the Conrad Line. The Hilton Hotels Corporation earned in excess  of $3.8 billion in fiscal year 2003 (Datamonitor, p. 4). External FactorsAccording to the Datamonitor report, the Marriott and Hyatt Corporations are the Hilton Hotel Corporations biggest competitors. Las Vegas is a gaming town, thus every hotel is expected to have gambling casinos within. The Las Vegas Hilton website shows that they also provide live entertainment, including comics and headline musical acts, as well as hosting a million-dollar Blackjack tournament. These factors, along with the attractive room packages and gambling activities, should be enough to maintain the occupancy rate and keep the gambling action constant. According to its website, the Las Vegas Marriott is a hotel with 278 rooms. The Hyatt franchise is located 17 miles away from the Las Vegas strip on Lake Las Vegas, but is a resort, casino and spa. While the Hyatt is a luxury hotel chain, the Marriott is a corporation more in line with Hilton. The Marriott made over $9 billion in fiscal year 2003; more than three times the Hilton Hotel Corporation (Marriott Datamonitor report). To contend with a company of this magnitude is not an easy job for any of their competitors. Hilton Hotels Corporation is an enormous company as mentioned above; so sizable that they had to split the corporation into six main divisions, totaling approximately 100,000 employees worldwide. Hilton Hotels Corporation has been very successful since they were established in 1946. Their diversification profile is significant and ambitious; no matter where you go, there are Hilton hotels there. In addition, Hilton Corporation has been leading in customer service and efficient staffing by utilizing a call center to help them maintain their reputation for hospitality. Hilton Reservations Worldwide handles reservations and information requests for thousands of hotel properties, under their various brands, positioning the company on the top of: †¢ Accurate intraday forecasts†¢ Reduced management costs†¢ Excellent customer service †¢ An edge over the competitionA company’s strength does not solely lie in the size of the company but in the management of the company, the employees and their commitment to their customers. Hilton’s management promoted brand relevancy within minority markets. Their sales team strategic initiatives are to target the multicultural market. In relation to their employees, Hilton’s are some of the finest. They are trained to do their jobs with care and make sure the customers are comfortable and happy. The customer personal profile allows the Hilton employees to treat each customer as a unique and special individual. WeaknessEvery company has weaknesses; Hilton Hotels weakness lied in its inability to recover quickly from the attacks on America in 2001. Although Hilton Hotels is a large company in many locations across the country, they had to reduce their manpower due to the decline in business. Matthew J. Hart (president and CEO) said; â€Å"we have had a lot of job losses – about 2,500 full-time equivalent jobs out of a worldwide workforce of 100,000. But we have no plans for any more, unless business gets worse† (Finch, 2001, p.1). The September 11th attacks left the whole nation in awe, in grief, and for many New Yorkers, jobless. The attacks left the airline and hotel industry to recover from lost sales. Another weakness the hotel industry is facing is the evident decline in supply. The below chart shows how the demand to occupy the Hilton hotels has been a declining behavior during the last years:A closer examination of the demand cycle for economy hotels during the past several years reveals a pattern that is not consistent with other hotels. The rate of demand growth in this segment began declining during mid-2000, about nine months before a similar effect was felt industry-wide. In addition, as the industry’s demand recovery has begun to accelerate the rate of demand growth, the economy segment has plateaud. Of even more concern is that the number of rooms currently being purchased in this segment is still declining when compared to previous-years levels. (Look Smart Articles, 2004, p.1)OpportunitiesAs mentioned earlier, Hilton Hotels Corporation is known worldwide; with this notoriety their reputation will carry them to expand their hotel empire even further. Their opportunity lies in the growing international market. The company is expecting 4-5% fee growth in 2004 within; new management contracts in Austin, Houston, Omaha and Conrad Miami. The company market overview reveals that recent trends in major markets are:†¢ Strong in New York, D.C., Hawaii†¢ Stable in New Orleans, Boston†¢ Weak in San Francisco, ChicagoThere will always be a demand for hotels and resorts. Currently, Hilton Hotels are working on more room availability; 80% of rooms have been renovated within last five years, and they are expanding into new markets. They also have â€Å"Best Rates. Guaranteed†, Internet easy access with a success rate of utilization from the customers:†¢ 13% of all reservations†¢ 85% through proprietary websites†¢ Self-service kiosksThis kind of service assists in making the experience convenient for the customer. Along with the convenience, Hilton Corporation and their six divisions take pride in making ever y building feel like home and ensuring the customer is satisfied and pleased with their accommodations (Hilton Hotels Corporation, 2003, s.3-5). ThreatsA few of the threats for The Hilton are competition, and a declining economy. The competition for The Hilton is not only other hotel companies, but restaurants and other service centers as well. Marriott is the main competitor of The Hilton amongst other hospitality companies. Because Hilton is so grand and reputable, they have more room for error, which also makes them vulnerable. As time passes, the Hilton Hotels continue to strive for excellence and perfection. They make each new hotel or resort better than the last. Because of the continuous growth of this company, it has dealt  with it’s competition head on (Nairn, 2001, p.3). The second threat is the economic decline of this century. Since the September 11th attacks in New York City, the American economy has been declining in all service industry areas. There was an ominous fear of flying and for quite some time, many people chose not to travel for vacations or long-distance business trips. This reaction to the events of 2001 hurt the hospitality industry, and made difficult rebuilding what they lost in revenue. Fortunately, this trend has started to change and the industry will soon recover from their losses. This is an area that still needs close monitoring from the executives of the corporation. References Datamonitor Hilton Hotels Company Overview August 2004. Datamonitor Marriott International Inc. Overview August 2004. Finch, J. (2001, November 16). Hilton reports impact of September 11. Retrieved October 26, 2004, http://www.union-network.org/unitourism.nsf/2c89b80c011f2519c1256b06002163c2?OpenDocumentHotels Hilton Hotels Corporation. (1998, Fall 1998). Corporate History. Retrieved October 26, 2004, Http://hiltonworldwide.hilton.com/en/ww/company-_info/corporate_history.jhtml;jsessionid=FGTDSXUCGXCGSCSGBIX222QKIYFCXUUCHilton Case Study. https://mycampus.phoenix.edu/secure/resource/resource.asp Retrieved October 23, 2004. Hilton Hotels Corporation (2003, July). Hilton: Great Brands and a Balanced Business Model (presentation). Retrieved October 26, 2004, http://media.corporate-ir.net/media_files/NYS/HLT/Hilton%20Presentation%20February%202004/tsld002.htmhttp://www.lakelasvegas.com/http://www.lv-hilton.com/http://www.vacationclub.com/en-us/vc/about/marriottworld/lasvegas.asp?cookies=trueLook Smart Articles (2004, January 14). Economy segment lags industry in key performance measures – Trends & Stats. Retrieved October 26, 2004,

Dell Promotion Objectives Essay

Dell’s sales promotion strategies are depended on the different type of consumers such as loyal customers, competitor’s customers, Brand switchers, and prize buyers. A repeated purchase which is the sales promotion objective is very important for any company to reach their goal. Dell offers its customers an option to purchase on internet and to contact Dell employees if they have any problems or questions. . Internet is the most efficient and purest sell model of Dell where consumers’ accesses not only buy the products but also get service and support. Recently, the company recruits more than 2.6 million visitors in every week and form online marketing of Dell, company earn more than $40 million in revenue per week. Moreover, Dell sends off coupon, special offers and also eye catching display of new technology to the customers. Promotions Dell’s strategy was built around a number of core elements: build-to-order manufacturing, mass customization, partnerships with suppliers, just-in-time components inventories, direct sales, market segmentation, customer service, and extensive data and information sharing with both supply partners and customers. Through this strategy, the company hoped to achieve what Michael Dell called â€Å"virtual integration†Ã¢â‚¬â€a stitching together of Dell’s business with its supply partners and customers in real time such that all three appeared to be part of the same organizational team. Dell’s promotional strategies include: 1. Direct Sales: Selling Direct to customers gave Dell firsthand information about customer preferences and needs, as well as immediate feedback on design problems and quality glitches. With thousands of phone and fax orders daily, Internet sales, and daily contacts between the field sales force and customers of all types, the company kept its finger on the market pulse, quickly detecting shifts in sales trends and getting prompt feedback on any problems with its products. Management believed Dell’s ability to respond quickly gave it a significant advantage over rivals, particularly over PC makers in Asia that made large production runs and sold standardized products through retail channels. Dell saw its direct sales approach as a totally customer-driven system that allowed quick transitions to new  generations of components and PC models. 2. Market segmentation: To make sure that each type of customer was well served, Dell had made speco finer, more homogeneous categories. 90 percent of Dell’s sales were to business or government institutions and of those 70 percent were to large corporate customers who bought at least $1 million in PCs annually. Many of these large customers typically ordered thousands of units at a time. Dell had hundreds of sales representatives calling on large corporate and institutional accounts. Its customer list included Shell Oil, Exxon, MCI, Ford Motor, Toyota, Eastman Chemical, Boeing, Goldman Sachs, Oracle, Microsoft, Michelin, Unilever, Deutsche Bank, Sony and Wal-Mart. However, no one customer represented more than 2 percent of total sales. Because corporate customers tended to buy the most expensive computers, Dell commanded the highest average selling prices in the industry—over $1,600 versus an industry average under $1,400. Dell’s sales to individuals and small b usinesses were made by telephone, fax, and the Internet. It had a call center in the United States with toll-free lines; customers could talk with a sales representative about specific models, get information faxed or mailed to them, place an order, and pay by credit card. The call centers were equipped with technology that routed calls from a particular country to a particular call center. Thus, for example, a customer calling from Lisbon, Portugal, was automatically directed to the call center in Montpelier, France, and connected to a Portuguese-speaking sales representative. Dell began Internet sales at its Web site (www.dell.com) in 1995; almost overnight achieving sales of $1 million per day. In 1997 Internet sales reached an average of $3 million daily, hitting $6 million some days during the Christmas shopping period. The fastest growing segment of Dell’s international segment was through Internet Sales. Internet sales were about equally divided between sales to individuals and sales to business customers. 3. Advertising: Michael Dell was a strong believer in the power of advertising and frequently espoused its importance in the company’s strategy. Thus, Dell was the first computer company to use comparative ads, throwing barbs at Compaq’s higher prices. The company regularly had prominent ads in such leading computer publications as PC Magazine and PC World, as well as in USA Today, The Wall Street Journal, and other business publications. In the spring of 1998, the company debuted a multi-year  worldwide TV campaign to strengthen its brand image. Recently, Dell India has launched an integrated marketing campaign for its Inspiron range of laptops. A TVC targeting the youth, created by Grey Worldwide, went on air across entertainment channels. This new campaign is based on stories of ‘personal achievement’. 4. Customer Service: Service became a feature of Dell’s strategy. The company provides a guarantee of free on-site service. Dell contracted with local service providers to handle customer requests for repairs; on-site service was provided on a next-day basis. Dell also provided its customers with technical support via a toll-free number, fax, and e-mail. Bundled service policies were a major selling point for winning corporate accounts. If a customer preferred to work with his or her own service provider, Dell gave that provider the training and spare parts needed to service the customer’s equipment. Selling direct allowed Dell to keep close track of the purchases of its large global customers, country by country and department by department— the information that customers found valuable. Maintaining its close customer relationships allowed Dell to become quite knowledgeable about its customers’ needs and how their PC network functioned. Aside from using this information to help customers plan their PC needs and configure their PC networks, Dell used its knowledge to add to the value it delivered to its customers. Corporate customers paid Dell fees to provide support and service.. Dell’s strategy was to manage the flow of information gleaned from customer service activities both to improve product quality and speed execution. In recent months Dell, following Compaq’s lead, had created a capital services group to assist customers with financing their PC networks. Virtual Integration and information sharing: But what was unique about Dell’s strategy was how the company was using technology and information-sharing with both supply partners and customers to blur the traditional arm’s-length boundaries in the supplier- manufacturer-customer value chain that characterized Dell’s earlier business model and other direct-sell competitors. Michael Dell referred to this feature of Dell’s strategy as â€Å"virtual integration.† On-line communications technology made it easy for Dell to communicate inventory levels and replenishment needs to vendors daily or even hourly. In this regard, a number of Dell’s corporate accounts were large enough to justify dedicated  on-site teams of Dell employees. Customers usually welcomed such teams, preferring to focus their time and energy on the core business rather than being distracted by PC purchasing and servicing issues. 5. Regional Forums: Dell had set up a number of regional forums to stimulate the flow of information back and forth with customers. The company formed Platinum Councils composed of its largest customers in the United States, Europe, Japan, and the Asia-Pacific region; regional meetings were held every six to nine months. Customers were provided opportunities to share information and learn from one another as well as exchange ideas with Dell personnel. Dell found that the information gleaned from customers at these meetings assisted in forecasting demand for the company’s product. 6. Customized Intranet sites: Dell had developed customized intranet sites (called Premier Pages) for its largest global customers; these sites gave customer personnel immediate on-line access to purchasing and technical information about the specific configurations of products that their company had purchased from Dell or that were currently authorized for purchase. Demand Forecasting Accurate sales forecasts were the key to keeping costs down and minimizing inventories, given the complexity and diversity of the company’s product line. Because Dell worked diligently to maintain a close relationship with its large corporate and institutional customers, and because it sold direct to small customers via telephone and the Internet, it was possible for the company to keep a finger on the pulse of demand—what was selling and what was not. Moreover, the company’s market segmentation strategy paved the way for in-depth understanding of its customers’ evolving requirements and expectations. Having credible real-time information about what customers were actually buying and having firsthand knowledge of large customers’ buying intentions gave Dell strong capability to forecast demand. Furthermore, Dell passed that knowledge on to suppliers so they could plan their production accordingly. The company worked hard at managing the flow of information it got from the marketplace and seeing that it got to both internal groups and vendors in timely fashion. Research and Development Company management believed that it was Dell’s job to sort out all the new technology coming into the marketplace and help steer customers to options  and solutions most relevant to their needs. The company talked to its customers frequently about â€Å"relevant technology,† listening carefully to customers’ needs and problems and endeavoring to identify the most cost-effective solutions. The company’s R&D unit also studied and implemented ways to control quality and to streamline the assembly process. Much time went into tracking all the new developments in components and software to ascertain how they would prove useful to computer users.

Sound and visual media Essay Example | Topics and Well Written Essays - 1000 words

Sound and visual media - Essay Example Other architectural configurations in arena stages allow for podiums with lifting and dropping abilities. In such cases, the audience often rests on temporary seats that facilitate more flexibility. This configuration allows performers to understand the conditions their viewers are in while performing. Engaging the audience based on these conditions makes the performance better (Condee 9). Better detail and expressiveness is necessary for all production factors (Collins and Kapralos). Even though the audience configuration in an arena stage is raised above the stage, their scenery is often limited to cover optimum lines of sight for viewers on all sides. This condition is different for viewers in a Proscenium Arch Stage whose lines of sight are level before a raised platform. Arena theatres often lack a fly system apart from possibly lighting purposes (Hischak 147). The requirement of giving equal lines of sight for all viewers puts distinct limits on the kind of scenery used and on the activities of the performers. This is because, certain audiences in an arena stage will inevitably be seeing an actor’s back at all times. This configuration allows for good recording and production of sound from real sources. However, certain sounds appear false when produced electronically in an arena theatre. As a result, a surrounding architectural configuration for audience s in an arena call for the building of mechanical instruments that mimic sounds like thunder and rain. Architectural configurations carve up an understanding of the conditions audiences are in through sound reflection (Hischak 147). Sound reflection rare occurs in isolation since sound usually finds a surface on its path where refection is takes place. Knowing the arrangement of audience seats in a theatre is imperative for making predictions of the behavior of sound within that theatre. All surfaces echo and absorb sound to some

PHIL 102 Essay Example | Topics and Well Written Essays - 500 words - 2

PHIL 102 - Essay Example Ethics is taught by use of scenarios with less or no practical value. When learning, an example is given where people are stuck in a boat and they have to eat one person to survive. This is not a practical situation, but is still used to teach ethics and the formulated principles rarely apply in different contexts. This theme helps in showing ways of evaluating actions in a particular circumstance. The theme of life is also highlighted in ethics where it is viewed as a standard of value found in objectivist ethics. It involves use of different views to explain concepts of life and the correct ways of living. It is necessary to have better and integrated views about life to help us live ethically with other people. When contrasting and comparing the views in life, standards of comparison should be set clearly. Normally, life entails more than what meets the eye. Transition is also an important theme in ethics, which tries to show how various behaviors are automated. It also highlights what is involved in changing to a new set of ethics, and the process of identifying if the new ethics are practical. It is not easy to practice an ethical theory and values along with moral premises need to be examined to march rational judgment of the right thing. With time, people change the way in which they view some mannerisms, and whether they are wrong or right. Transition leads to change in perception, which is necessary for every person or community to embrace. Value is a key theme in ethics and it defines what an individual aims at getting after applying ethics. It can be physical; maybe money or belongings, and it can be intangible, maybe physical fitness, pleasure, romance, or friendship. Ethics involves making choices on possible outcomes of choosing values and goals. Value judgment used in determining if an action or occurrence is right or wrong, which

Network Scanning Packages Essay Example | Topics and Well Written Essays - 750 words

Network Scanning Packages - Essay Example This is because they normally make use of command lines such as the ones found in Command Prompt of the Windows Operating System. Such cannot be said to be easy to operate following the complexity of commands required to run it. However, a graphical user interface in OpenVas does just the opposite by having the commands automated, and all that the user has to keep in mind is how to run the scanner and not the commands that launch different scans. In addition, OpenVas includes a central server, which allows users to run a wide range of network vulnerability tests that are not found on other programs. The included server runs network vulnerability tests (NVT) that are written in Nessus Attack Scripting Language (NASL) (Naraine, 2008). The above is an active attack mode that attempt to penetrate actively networks to find potential loopholes and vulnerabilities. In addition, OpenVas frequently updates the NASL for improved efficiency in finding vulnerabilities that come up from time to t ime. Still on the graphical user interface, the simplicity in navigating through the different features allows the user to manage vulnerability scan sessions. In its cost, there have been recent changes in the previously free to use application. This is due to the commercial approach adopted more recently with the release of OpenVas 3.0 in the year 2005 by charging NVT upgrades and application of restrictions in the free package (Kereki, 2008). For this reason, OpenVas is no longer free needing financial input for acquisition, which is not the case for Nexpose. On the other hand, Nexpose charges a significant amount for those that require a fully functional network scanner. This is, unlike the OpenVas that only has its earlier less functional versions provided on a free license. In the case of Nexpose, it can be acquired for no cost, but with reduced functionality concerning its power in scanning for enhanced and advanced vulnerabilities (Skyler, 2010). Despite OpenVas being a

PROJECT Assignment Example | Topics and Well Written Essays - 1000 words

PROJECT - Assignment Example The management has to determine and evaluate the performance of each employee which is difficult. Decreasing the labor force also demotivates the remaining work force which may result in poor performance and the management has to assure the remaining employees of a long term relationship and motivate them. This article will cover the strategies of reducing the workforce and include other changes that can be adopted to improve the overall performance of the organization (University of Washington n.d) We have to bear in mind the laws governing employment termination, treat the employees fairly, preserve and protect the employee’s dignity, make the reasons for termination confidential and handle the termination process professionally. We can adopt various strategies to measure the performance of the employees in order to know which employees should be terminated. The first measure is to determine the quantity in terms of units produced by the employee in case of a production industry which can be quantified. The other factor to be considered is the quality of the goods produced or the services offered. Quality can be determined by complaints received from customers, the output that has to be redone and the quantity of work rejected. Timeliness should be considered in terms of the speed of completion of activities. We should also evaluate the cases of delays of an employee in completing the tasks assigned and in the case of a manufacturing industry, determine the number of u nits produced per hour (Hakala 2008). We should as well consider the cost-effectiveness of each employee. This will determine the responsibility of each employee in terms of cost control over the organizational spending. This should also include misuse of organizational resources such as using organizational vehicles for personal convenience. We should evaluate absenteeism of

Ryanairs Internal Structure Essay Example | Topics and Well Written Essays - 2750 words

Ryanairs Internal Structure - Essay Example In addition, it offered better-quality value-adding operations which were conducted in an efficient manner. Ryanair also retained possession of the resource base which was needed to carry out the value-adding operations. It is an established fact that an organization’s corporate strategy is what creates the drive to realize corporate objectives. This paper will seek to describe the fundamental corporate structures of the Ryanair airline, while also commenting on recommendations that will help in highlighting its best qualities for the purpose of maintaining its competitive advantage. In 1985, Ryanair was officially launched by Tony Ryan in Ireland. At the start, Ryanair had a small staff of 25 employees. The three men only had a turbo-prop plane with which to ferry commuters between Gatwick Airport and Waterford, which is located in southeast Ireland. Gatwick is still the second busiest airfield in England. The rapid increase in the popularity of Ryanair made Britain’s regulatory authorities take notice of it. Soon, it was allowed to operate with four flights on a daily basis. Ryanair quickly developed, and began to attract even more passengers across the UK. Today, Ryanair is considered to be Europe’s oldest low-cost airline. Today, Ryanair has to deal with a lot of challenges that are posted because of the presence of low-cost carriers such as BMI Baby, EasyJet, and Thomson, which also operate between Ireland and Britain. For a long time, Ryanair attracted larger numbers of passengers because of its low prices, and several destinations points. Ryanair also marketed itself aggressively, and so was able to cultivate valuable relationships with operators in airports in different cities. Ryanair also made significant changes which were received well by passengers. For instance, in the past, Ryanair would only procure used planes so as to save on costs. However, the airline  changed this trend as it benefited from increased proceeds.  

Search Engine Optimization Research Paper Example | Topics and Well Written Essays - 750 words

Search Engine Optimization - Research Paper Example This is to mean that, white hats use terms appropriately to ensure that their websites are visible. On the other hand, black fill their websites with content or words that get plenty of hits from search engines. White hats, when compared to black hats have distinct characteristics that put them apart in favor or against one another as one of the uses unscrupulous means and makes attractive promises (Creative Momentum 1). In relation to white hat search engine optimization, it follows regulations and guidelines to the letter, as provided by search engines to ensure that websites are visible to all that require information from them. This includes careful use of words that get numerous hits from search engines such that the words used are not meant to bloat documents or articles in the website. Instead, the words used are of a unique nature in that they are informative and, at times, act as support words for the whole article and not for exploiting the abilities of search engines. As s uch, websites are designed with certain aspects in mind; these include rules and norms, as well as a code of ethics to ensure that all internet activities are conducted with transparency. Based on this, following the guidelines of search engines for optimizing visibility, ensures that the ever-changing algorithms applied by search engines (Revenuewire 2) achieve transparency. This shields legal or appropriate sites from relegation, and thus gets high ratings by following meeting the terms of use on multiple levels. The white hat optimizers or designers, therefore, apply to the intelligence and needs of internet users to deliver quality content that does not fool search engines by giving false information, including in the titles of the websites. In relation to domain naming, white hat optimizers allow the actual intent of the website to appear rather than mislead the search engine user into logging into it for irrelevant content. These are the distinct characteristics of â€Å"whit e hat† search engine optimization due to their compliant nature, which offers protection from removal and relegation. On the other hand, black hat search engine optimizers have their own code of ethics, or lack of it thereof that sees them dump the rulebook and carry the day, but only for limited moment (Smith 5). Black hat optimization in search engines involves the application of hidden content, where there are numerous links and articles, as well as documents that are spammed with keywords, which serve as crucial gateway points for search engines. This is in relation to search engines accessing the site due to its heavy saturation with such words that are mainly used by internet users to query information from the internet. Information is usually hidden in scripts and non-script parts of code in a website, where search engines only expose it as its algorithms crawl the internet. In addition black hat optimizations tends to have meta-keyword stuffing, where in the descriptio n of the website, or even in its headers, it has numerous keywords (Wilding). These words raise the flags, both red and white for search engines thus improving the ranking of a website, especially in marketing and sites that market content to generate revenue. Through this, it is evident that black hat optimizers are only

Can Cyber-Love Attain Genuinely and Divinity Essay

Can Cyber-Love Attain Genuinely and Divinity - Essay Example Of course, it’s a question of debate that how many times these critics become stupid and blind in their lives. Love changed in course of time along with the human civilization. It changed but it existed with new forms but didn’t disappear. In ancient time the lover and beloved would indulge in love affairs in a very romantic way. Writing letters and expressing the intense passion for each other was the common process. These letters would be sent by some faithful friends or sometimes through the pigeons also. Sending love letters by the pigeons sounds funny but it would happen in ancient time. In one romantic Sanskrit drama written by the great poet and Indian Scholar Kalidas expresses a very uncommon romanticism in his drama called â€Å"Meghdoot.† ‘Meghdoot’ means the cloud as a messenger Here in this drama Kalidas has depicted a very beautiful picture of a lover who is yearning to meet his beloved. She is thousands kilometer away from him. He sends his deep and intense feelings for her and he conveys the message to the beloved through a cloud i.e. Megh. Here the Megh or the cloud is the messenger of the sad lover. Skillful lovers use different skills and tactics for fulfilling their love. Bauman Zygmunt in his chapter, â€Å"Falling in and out of love† describes that love (falling in love, soliciting love) is a skill to be learned and the mastery of skill grows with the number of experiments and assiduity of exercise.† (p.g.5 ‘falling in love and out’) The Internet is the most popular medium of expressing love and getting the lover through just a machine. For fulfilling almost all of the needs modern generation relies on the machine. Love is also not an exception to that.  Ã‚  

International Corrections Profile Research Paper

International Corrections Profile - Research Paper Example More often than not, the use of corrections centers is aimed at isolating the perpetrators for some time while they undergo rehabilitation depending on the severity of the crime committed. However, there are issues of capital punishment; where people are sentenced to death usually as a result of committing murder in the first degree i.e. the culprit committed premeditated murder and the sentence is often life sentence or a death sentence depending on the country in question. In such a situation, the handing of such a ruling is meant to send an unequivocal message to the rest of the society of the kind of punishment they could get if they committed similar crimes thereby deterring them from trying to commit any similar crimes (Ogalthorpe et al, 2006). This paper seeks to highlight the general correctional profile of Canada. The critique is set to establish the justification of the presence of correctional facilities, what type of correctional facilities do exist, who frequents these k inds of correctional facilities and for what reasons and for how long. Further, the paper shall highlight the policies that support the presence of these correctional facilities and what policies require reform as far as Canada is concerned. Correctional facilities do not exist in isolation but come into existence because they are enabled by the presence of a codified law against which crime is defined. Absence of law means there would be no crime and if there is no crime then there are no correctional facilities of any kind. The aims of a codified law vary from state to state. There are two types of laws: civil law and criminal law. Criminal law determines the general criminal justice of a given country. In civil law, individual citizens get to settle their differences in court where one is the plaintiff and the other the accused. Prosecution is therefore done by one party as the other party awaits ruling.

Personal Reflections Paper Essay Example for Free

Personal Reflections Paper Essay In this paper, I am going to identify a state of time in which I experience invidious comparison and vicarious traumatization. While recognizing propositions to angles, I am likewise going to deliver how to stop invidious comparison. As well as distinguishing procedures that I use to keep away from vicarious traumatization in my own individual life. I will likewise go into profundity to demonstrate to keep away from vicarious traumatization as a human service worker. Finally, I am going to address the systems that can be considered or created to avoid vicarious traumatization. What is invidious comparison? Invidious comparison is the contrasting yourself with others. It can be through race, sexual introduction, and religion. Invidious comparison can make an individual feel that their self-esteem is not needed and even take its toll on the individual doing the comparison themselves. It can send you into a depressive state where you create levels of anxiety. To stop invidious comparison, we should first get a seeing on others and acknowledge the distinctive perspectives that other may have. Everybody is diverse in their own particular manner. There will likewise be a person that may exceed expectations in diverse things that you may have thought you were great in. Some may be unequipped for capacities that one may have. By understanding these angles we must recognize the qualities that we have and dont have without harping on the shortcomings of others. All over we go there are comparisons, it is critical to become involved with a circumstance where you begin to wind up judgmental. The standard of characteristic determination is taking into account rivalry inside an animal groups. It is generally assumed that every individual from the species is looking to his own particular prosperity and recreates in extent to his wellness. Rivalry between distinctive individuals is true instigated by the way that assets are rare in any given environme nt, and survival is guaranteed just for the  fittest.(Eaton, B. C., Eswaran, M., 2003). We must acknowledge qualities that we esteem lesser than ourselves so as to enhance in our own particular life. In my own particular individual experience, to maintain a strategic distance from invidious comparison I have a tendency to veer far from perspectives and circumstances that make me judge others. I separate my individual life and my business life in light of the fact that there is a spot and a period to raise certain circumstances and work would not be suitable for things concerning home matters. At whatever point there is a circumstance at work, I stay clear of it to keep away from any association. In any work environment there is dramatization, it is your decision on whether you need to be a piece of it or not. I work for an intellectual inclined agency and all over around there is a show. Once in a while this is tricky to keep away from in light of the fact that there are associates heading up to me attempting to enlighten distinctive things concerning others yet I essentially pick not to expand on the circumstances. A few techniques that I use to avoid invidious comparison is abstain from, comprehension, and acknowledge. Human service workers manage numerous sort people regularly. Some case may be more serious than the following. In the feeling of vicarious trauma, it is the procedure in which change happens on the grounds that you feel some sort of regret for others that they may have been harmed. It is a greater amount of a nature for you to have the capacity to feel in charge of that single person. A percentage of the circumstances that cause this is stories of trauma, the inclination of needing to help change a circumstance of a single person. Service workers can likewise feel submitted and feeble when they dont see a positive change inside the circumstance that they are included in. In due time, this specific methodology can prompt a physical, mental, otherworldly change inside oneself. A few methods that service workers can adjust comprise of evading, resting, and getting a charge out of ones own time. When you escape places, for example, work it can help you mentally and physically. Going out to with companions to places of delight can certainly offer assistance. Resting is additionally essential. It can facilitate a considerable measure of anxiety and strain that is developed. In some cases only a decent days of rest can do the trap. In conclusion, having fun and participating in specific exercises can support your vitality also. Placing you in a much more content  condition of being. I have experienced numerous people that have been through injury and I urge them to continue thinking constructive and prizes will come at last. I for one accept that each human service should receive these systems it can help over the long haul. There are numerous different strategies that one can create to help with vicarious traumatization and attempting to help prevent it. A few strategies that can likewise be utilized is understanding your qualities and having the capacity to play of them, sharpening your aptitudes by looking for preparing or having a coach, watch how others are and act appropriately towards them. You must know your points of confinement and where you have the capacity to go. Knowing the amount you can take is a vital perspective also. You need to discover time to unwind. You should likewise have a seeing on the strategies that are inside an org and work on staying cool when managing circumstances. These steps and systems can help you mitigate pressure that is connected with working. In a few circumstances, helpers dont search out the suitable help when they are confronted with vicarious traumatization. Human service workers once in a while perspective having individual issues similar to a disappointment and that they should have them in any case. As human service workers, they have to be mindful of the assets that are accessible keeping in mind the end goal to get the particular help that is required. In a few occurrences, some human service workers feel that it is a humiliation to get help basically on the grounds that they are the expert and they should not need help. Human service workers should not hold up to look for help in light of the fact that it can take an extraordinary toll on their lives also. â€Å"As psychiatric professionals treat victims of trauma and abuse more frequently, the impact of close, prolonged therapeutic work with these patients has been recognized as having serious mental health hazards for professionals themselves.† (Blair, D. T., Ramones, Valerie A, RN,C., M.S., 1996) Taking everything into account, being adequate and comprehension the diverse perspectives that others may have can help you maintain a strategic distance from invidious comparisons. You must put aside all judgmental perspectives that one has to acknowledge others. There are numerous strategies that are accessible to assist human service workers the way, it is there occupation to pick as needs be to the circumstances that they are in. REFERENCES Blair, D. T., Ramones, Valerie A, RN,C., M.S. (1996). Understanding vicarious traumatization. Journal of Psychosocial Nursing Mental Health Services, 34(11), 24-30. Retrieved from http://search.proquest.com/docview/1024301513?accountid=458 Eaton, B. C., Eswaran, M. (2003). The Evolution of Preferences and Competition: A Rationalization of Veblens Theory of Invidious Comparisons. Canadian Journal Of Economics, 36(4), 832-859

Financial Analysis of Ryanair and British Airways

Financial Analysis of Ryanair and British Airways Financial analysis The purpose of financial analysis is to determine the financial health of a business. Generally, this analysis is performed by the professionals who prepare reports using the ratios taken from various financial reports. The financial ratios calculated are also helpful to compare with different business. The following analysis studies the four major financial positions of BA and Ryan air; Profitability, Efficiency, Liquidity and Financial gearing. Profitability: It is the primary goal for any business, without this the business cannot be projected in long run. The purpose of measuring profitability is the key contribution for success of business. The ratios which are used to evaluate profitability are listed below: Return on ordinary shareholders funds (ROSF) Return on capital employed (ROCE) Net profit margin Gross profit margin. ROSF: It compares the amount of profit for the period available to the owner’s average stake in the business during that same period. The ratio is expressed below: ROSF = (Net profit after taxation and preference dividend (if any) / ordinary share capital +reserves) Ãâ€" 100 The Ratios calculated for BA Ryan air are shown below: From the above table, it is clearly seen that BA values are inconsistent but whereas Ryan air tends to show improvement every year which gives more profits to the shareholders. From the definition we can say that the high ROSF %, the more profit available to shareholders. The year 2011 considered to be good for both airlines BA and Ryan air, since they are making huge profits and improved revenues compared to their previous year performance. As a result, their ROSF had risen to 26% 11.34% which resulting high profits to the shareholders. This scenario has changed completely when it comes to 2012 for BA. If their investors left their money in bank, they could have got some positive returns. But instead BA returned (3.6%) to their investors. Though its revenue is increased by 8% and operational cost by 11% it continued to show appreciable operating results. However, due to exceptional costs items like expense related to pensions, BMI’s acquisition affected the BA economy. On the other hand, Ryan air returned 16.11% which is higher than previous year to the shareholders. This is because Ryan air revenue increased by 25% and profit by 50% approximately compared to 2011. (According to annual report 2012).Though its operating costs are increased due to (fuel price rise) it managed to balance that by increasing passengers fares of about 15%. In 2013, BA has raised from loss of (3.6) % to 10.78%. This is because of company attains the profit from exceptional items ( £57m) and IAG part of BA contributed  £ (265m) and also revenue rose by 5.5%. Though inconsistent in fuel prices affects their operational costs which is almost 0.3% of their total operational costs. But BA managed to stabilise it by non-fuel costs which has risen in 2012. Whereas Ryan air revenue increased by 13% which is less compared to 2012 change. Since it’s a low cost carrier it should maintain passenger fare as low as possible in order to compete with its rivals but, inconsistency in fuel prices had raised their operational costs by 45% and passenger fare by 6%. At the end company operated in profits and returned 17.35% to the shareholders. Based on ROSF results, we can say that Ryan air has performed well continuously in three consecutive year’s period by giving profits to its shareholders but BA shown some ups and downs in its results. Further ratios will give us more idea why the difference has been evolved in their performance. ROCE (Return on capital employed): It is a fundamental measure of business performance. ROCE is defined as the ratio of net operating profit to the capital employed. Capital employed is the difference b/w total assets and current liabilities. The ratio is expressed below: ROCE = (NET PROFIT BEFORE TAX / CAPITAL EMPLOYED) Ãâ€" 100 The ratios calculated for BA and Ryan air is shown below: The above table describes the ROCE of a company for a period 2011-2013. From the definition we can state that higher the value of ROSE is indicating that the company c generates more earnings per dollar of capital employed. It enables us to analyse and compare BA and Ryan air without the impact of tax. It also considered the long-term debt as a part of capital, which is not the case of ROSF.Thus; this ratio reveals how BA and Ryan air economized on its overall capital. In 2011, BA performed well by giving a positive result due to increased revenue in 2011 from premium travel passengers. But the performance is shrined in 2012 due to rise in operational costs and loss of  £ 41m on exceptional items and also  £66m due to partnership with IAG. Due to this it had shown negative result in 2012. But in 2013, it again rises to 4.11% from (1.86%) because of the factors explained in ROSF. Ryan air has shown continuous improvement for three years. In 2011 its profit increased by 26% and carefully balancing the fuel costs and operating costs. For the other two years also it continuous to shown good result even though operating cost rise to 45%. Thus, we can say from ROCE ratios Ryan air performed much better than BA. The gross-profit margin is studied below to measure the profitability. GROSS PROFIT MARGIN: It is a key financial factor that asses the profitability of a company core activities excluding fixed cost. Gross profit represents the difference b/w sales revenue and the cost of sales. The ratio is represented by gross profit to the sales revenue generated for the same period. It is a given by the formula shown below: Gross profit margin = (gross profit/sales revenue) Ãâ€" 100 Gross profit margin ratios of BA and Ryan air is shown below: It can be seen from above table that Ryan air performed well compared to BA. Though the values over three years slightly fluctuate but they were generating good profitability by improving their sales and proper balancing and control of fuel costs which has almost rise to 38% in 2013. Similarly airport charges and other operational costs were stabilised to make airline in profitable condition. On other hand, BA also performed well except for the year 2012.in which its fuel costs rise by 14 %, maintenance by 15% and operating lease costs by 34%. Due to this they showed lower values. But by gaining proper control over the above costs mentioned they started to improve their profitability by 2013. Now net profit margin is studied in order to see whether the airline is able to improve its profitability. NET PROFIT MARGIN: It is the defined as the ratio b/w net profit before tax to the sales revenue. It also measures how much each of dollar earned by the company is translated into profits. If the value is low it indicates low margin of safety and higher risk that the sales decline will erase profits and lead to net loss. It is given by the formula as shown below: Net profit margin = (profit before tax / sales revenue) Ãâ€" 100 Net profit margin ratios for BA and Ryan air shown below: The above table depicts us Ryan air is operating much better than BA. From annual reports it is known that BA invested much money for long-term asset. Hence, their net profit margins are quite low in these three years. In 2011, it invested in IAG, bought BMI at  £172.5m in 2012 and from 2011 it’s investing  £5 billion every year for new fleet and up gradation of fleet and other.in 2011 it opened T5 which will be home to A380 fleet from 2013. On the other hand, Ryan air net profit margins are high since its investments for long term assets are low compared to BA. Ryan air continuously invest to buy new a/c’s hence it’s the reason that it has youngest fleet of planes in the world. In 2013 it decided to buy 175 new Boeing 737-800 a/c which will be a long term asset for the Ryan air to transport more no. of passengers. In conclusion to the analysis of BA and Ryan air, profitability is measured by using various ratios. The results are fluctuated for BA whereas Ryan air tends to show improvement year by year from 2011-13. Both BA and Ryan air increased their revenues, gained some control over operational costs along the analysis and deliver positive returns except for the year 2012 for BA. EFFICIENCY: The efficiency ratios measure the efficiency in which various resources are managed and used in the business. The following ratios are used to evaluate the efficiency of the business: Average settlement period for receivables Average settlement period for payables Sales revenue to capital employed Sales revenue per employee Average settlement period for Receivables: A business will usually be concerned with how long it takes for customers to pay the amounts owing. The efficient and timely collection of customer debts is a vital part of cash flow management. So this is the ratio which is very closely watched in many businesses. It is given by the formula as shown below: Avg.settlement period for receivables = (Trade receivables/sales revenue) Ãâ€"365. The ratios calculated for BA and Ryan air shown below table: The values in above table depict the average number of days used to collect its revenue from debtors. Both BA and Ryan air has got appreciable shorter period to collect their revenue. In the analysis period from 2011- 13, BA managed to get back his revenue from receivables by an average of 17 days with slightly increased in 2013 compared to 2011. When it comes to Ryan air it has got very shorter period of an average of 5 days. From the table it is clearly seen that debtor days have fallen which means business is converting credit sales into cash much quicker than BA. This shorter period certainly asset for Ryan air liquidity. Average settlement period for payables: The average settlement period for payables measures how long, on average, the business takes to pay its trade payables. The ratio is calculated by a formula shown below: Average settlement period for payables = (trade payables/credit purchases) Ãâ€"365 The ratios calculated for creditors as shown below: Sales revenue to capital employed: This ratio examines how effectively the assets of the business are being used to generate sales revenue. Greater the value represents higher productivity. The ratio is calculated by a formula shown below: Sales revenue to capital employed= (sales revenue/ (total assets-current liabilities)) The ratios are calculated for BA and Ryan air as shown below: From the table it is clearly seen that both BA and Ryan air have utilised their assets properly to improve their productivity and hence it is the reason their values of productivity rising over past three years. The values of Ryan air is small compared to BA because Ryan air revenue is almost half of BA’s total revenue. At last despite of their company size both are making use of their assets properly. Sales revenue per employee: It is the ratio relates sale revenue generated to a particular business resource, which is labour. Higher the value indicates greater staff efficiency. Its ratio is calculated by a formula shown below: Sales revenue per employee = (sales revenue / number of employees) The ratio calculated for BA and Ryan air shown below: The above tables describes about sales revenue per employee. Both companies uses different currency so for better analysis BA revenue is converted to euros according to exchange rate in that periods. The values clearly states that Ryan air is more labour productive than BA and other fact is noticed from table is that two companies increasing their efficiency over the analysis period 2011-2013. LIQUIDITY: These ratios are concerned with the ability of the business to meet its short-term financial obligations. Higher the ratio, the more liquid the business is considered to be, since liquidity is vital to the survival of a business. Liquidity is measured by the following ratios shown below: Current ratio; Acid test ratio. Current ratio: It is defined as the ratio b/w liquid assets to the current liabilities. A higher current ratio is preferable to a normal one since liquidity is vital part in business. It is given by the formula as shown: Current Ratio = (current assets/ current liabilities) The current ratio values for BA and Ryan air shown below: Values in above table clearly depict that BA current ratio values over three years On the other hand, Ryan air maintained its current ratio values >1 throughout analysis period in which it properly balanced short-term assets over liabilities and has got more liquidity compared to BA. In 2013 Ryan air current ratio value is decreased compared to 2012 because it has decided to buy 175 new Boeing 737 planes over next five years. Overall, Ryan air liquidity is better than BA. Acid-test ratio: This is an indicator that determines whether a company has enough short-term assets to cover immediate liabilities without selling inventory. This ratio is more reliable compared to current ratio because it doesn’t include inventory. This is given by a formula as shown below: Acid-test ratio=current assets / current liabilities. (Excludes inventories in current assets) The values for BA and Ryan are shown below: From the table it is seen that BA values during analysis period is 1.so, this ratio indicates that company experiencing good growth, fastly converting receivables into cash and also it can also overcome its financial obligations without depending on inventories. In conclusion to the analysis of BA and Ryan air, liquidity is measured by using various ratios. The results are fluctuated for BA whereas Ryan air tends to show improvement year by year from 2011-13. Ryan air has got more liquidity compared to BA and it can easily overcome its financial obligations. 3.4 Financial Gearing: It is the relationship b/w the contribution to financing made by the owners of the business and the amount contributed by others in form of loans. A business level of gearing is an important factor accessing risk. Gearing takes place of owner’s insufficient funds. Any business borrowing money from others agrees to pay interests; if the borrowing is heavy then this can be significant financial burden to the company. The ratios used to measure gearing are shown below: Gearing ratio; Interest cover ratio. Gearing ratio: It is defined as ratio b/w long-term lenders to the long-term capital structure of a business. It is given by a formula as shown: Gearing ratio = (non-current liabilities/capital employed) The gearing ratios for BA and Ryan air calculated below: The values from table states that both companies are highly geared businesses since their gearing ratios > 50%. Both the companies have high shares of long-term debt in their long-term capital structure. So both companies are subjected to financial risk. Ryan air tends to decrease its debts during analysed period which can be seen from the table by controlling their operational costs effectively during analysed period. Whereas, BA managed to decrease their debts with some fluctuations in values which can be observed from the years 2011-2013.so, a cash flow which is strong and reliable can handle high gearing effectively compared to cash flow which is unreliable .

Research On The Importance Of Market Efficiency Finance Essay

Research On The Importance Of Market Efficiency Finance Essay Liquidity is a very desirable characteristic for a financial market product. Moreover, efficient market is one where the market price is an unbiased estimate of the true value of the investment. The concept of efficiency is central to finance. Primarily, the term efficiency is used to describe a market in which relevant information is impounded into the price of financial assets. Efficiency is central to finance. Market efficiency is guided by two principles which are Information and competition. Systematic and good market efficiency leads to market pricing .Any buyer who is willing to buy a product wants to be fully satisfied with the product that the seller is selling to him. Past, present and even discounted future events are reflected in market price but often show no apparent relation to price changes. Efficient markets hypothesis does not rule out small abnormal returns, before fees and expenses. Analysts could therefore still have an incentive to acquire and act on valuable information, though investors would expect to review no more. Only new information should affect stock prices, price changes are random and unpredictable.While it was clear that markets cannot completely be efficient in the strong forms, there was striking support for the weak and semi- strong forms. All investors aim to maximize economic utility (in other words, to make as much money as possible, regardless of any other considerations). This is a key assumption of the efficient market hypothesis The Buyers know that what is going on in the market and what is the price everywhere All investors have access to the same information at the same time. This also comes from the efficient market hypothesis. In fact, real markets contain information asymmetry, insider trading, and those who are simply better informed than others boooks se shareholders.. Importance of market efficiency It is important to understand how securities are valued because these principles provides values to the managers to keep up in managing the business in good way as it can help in dealing with the owners best interest. If stock prices are formed inefficiently, that creates the potential for inappropriate investments in the economy. If stock prices accurately reflect future firm performance, then this creates the premises for efficient resource allocation. Even if sometimes errors are made in valuation, markets can be efficient. Even if many market participants are irrational, markets can be efficient. Markets dont allow investors to earn above-average risk-adjusted returns. Implications of market efficiency They suggest that markets reach quickly to the new public information. The conditions required for markets to exist are No one investor can affect the price of the security through their own buying or selling. Information is available to the market participants all time. Investors react quickly and fully to the new information Efficient Market Hypothesis The theory that markets are efficient and all available information keeps on fluctuating with the price at any given time. It reflects all information both public and private which means all the sectors. It is associated with idea of random walk which means that if the flow of information reflects the stock prices then next days prices will reflect only next days news and will be independent of price changes today. IMPORTANCE OF EFFICIENT MARKET HYPOTHESIS Stakeholders can determine the effectiveness of the appointed management by observing the stock price. Anomalies The ease of experimenting with financial databanks of almost every conceivable dimension makes it quite likely that investigators will find some seemingly significant but wholly spurious correlation between financial variables or among financial and nonfinancial datasets. Moreover, the published literature is likely to be biased in favor of reporting such results. Significant effects are likely to be published in professional journals while negative results, or boring confirmations of previous findings, are relegated to the file drawer or discarded. Data-mining problems are unique to non experimental sciences, such as economics, which rely on statistical analysis for their insights and cannot test hypotheses by running repeated controlled experiments. Share prices can be highly sensitive as a result of rational responses to small changes in interest rates and risk perceptions. Suppose stocks are priced as the present value of the expected future stream of dividends. For a long-term holder of stocks, this rational principle of valuation translates to a formula: r = D/P + g, Where r is the rate of return, D/P is the (expected) dividend yield, and g is the long-term growth rate. For present purposes, consider r to be the required rate of return for the market as a whole. Suppose initially that the riskless rate of interest on government bonds is 9 percent and that the required additional risk premium for equity investors is 2 percentage points. In this case r will be 11 percent (0.09 + 0.02 = 0.11). If a typical stocks expected growth rate, g, is 7 percent and if the dividend is $4 per share, we can solve for the appropriate price of the stock index (P), obtaining 0.11 = 07.04$+P P = $100. Now assume that yields on government bonds rise from 9 to 10 Â ½ percent, with no increase in expected inflation, and that risk perceptions increase so that stock-market investors now demand a premium of 2 Â ½ percentage points instead of the 2 points in the previous example. The appropriate rate of return or discount rate for stocks, r, rises then from 11 percent to 13 percent (0.105 + 0.025), and the price of stock index falls from $100 to $66.67: 07.013.04$+=P 67.66$=P The Performance of Professional Investors Most convincing tests of market efficiency are direct tests of the ability of professional fund managers to outperform the market as a whole. Surely, if market prices were determined by irrational investors and systematically deviated from rational estimates of the present value of corporations, and if it was easy to spot predictable patterns in security returns or anomalous security prices, then professional fund managers should be able to beat the market. Direct tests of the actual performance of professionals, who often are compensated with strong incentives to outperform the market, should represent the most compelling evidence of market efficiency Empirical Evidence Weak form efficiency is very well supported, and it is reasonable to conclude that markets are weak form efficient, although a few anomalies do exist.All information that can be derived from past performance: prices, trading volumes Semi-strong form efficiency is well supported; however, more contradictory evidence exists for this version of the EMH than for the weak form.Fundamental information, quality of management, accounting standards. Strong form efficiency is not very well supported by the evidence, and it is reasonable to conclude that markets are not strong form efficient in the strictest sense.All information about a firm, including information available only to insiders Active portfolio management Serious analyses could to pay off but they come at a very high cost and are only feasible for the managers. Passive Portfolio Management Invest in a well diversified portfolio without attempting to outperform the market. It is suggested by Efficient Market Hypothesis as compared to active portfolio management. . Elements of market efficiency Operational Efficiency The transaction cost are low which enhances the trading of securities Informational Efficiency It is one of the most important efficiency as compared to other two as it quickly reflects the market price Allocational Efficiency Securities to allocate risk Implications for investors Technical analysis TO BE REWWARDED Fundamental analysis UNLIKELY TO BE GENERATING ABNORMAL PROFIT. Investors should focus on an investing which gives them good return. Active trading strategies -UNLIKELY TO OUTPERFORM PASSIVE BUY AND HOLD STRATEGIES Implications for Corporate Finance Stock prices at historical lows are likely to go up Mean reverting interest rates means that when interest rates are high based on historical levels they are likely to come down Implications of regulators Holders of securities in a company should be treated in a fair and equitable manner Accounting and auditing standards should be of a high and internationally acceptable quality CONCLUSIONS That an efficient market is one that reacts quickly and relatively accurately to new information, and therefore its prices are correct on average. That the Efficient Market Hypothesis (EMH) is tested in three forms; weak, semi-strong and strong. That empirical evidence suggests that markets are reasonably efficient, but not perfectly so. Investors and corporate officers should modify their behaviours and expectations in light of the evidence of market efficiency. As long as stock markets exist, the collective judgment of investors will sometimes make mistakes. Some market participants are less than rational. The market cannot be perfectly efficient or there would be no incentive for professionals to uncover the information that gets so quickly reflected in market prices Grossman and Stiglitz (1980). Undoubtedly, with the passage of time and with the increasing sophistication of our databases and empirical techniques, we will document further apparent departures from efficiency and further patterns in the development of stock returns. But I suspect that the end result will not be an abandonment of the belief of many in the profession that the stock market is remarkably efficient in its utilization of information. If any $100 bills are lying around the stock exchanges of the world, they will not be there for long.

Abortion: One Of The Most Controversial Topics Today Essay example --

Abortion: One of the Most Controversial Topics Today In the early American Colonies, English Common Law was adopted by the United States, which declared abortion forbidden. The procedure was ruled a misdemeanor if performed before quickening, which meant â€Å"feeling life,† and a felony if performed after quickening. In the early 1800s, it was discovered that life begins at conception and not when the mother â€Å"feels life.† Eighty-five percent of the states had laws that made all abortions a felony. Between the 1800s and today, many arguments have taken place regarding when life begins for a fetus and to what extent the mother has a right to terminate her pregnancy (Fast Facts: History of the U.S. Abortion Laws, 2003). There have been numerous attempts to change the current laws and/or add to them and the majority of these attempts have failed. The most famous law of them all resulted from the case of Roe v. Wade , is still in effect today and forms the basis for abortion laws and arguments. Important Court Cases   Ã‚  Ã‚  Ã‚  Ã‚  One of the most important dates in abortion history is January 22, 1973. On this date, the Supreme Court struck down all state abortion laws and legalized abortion in all 50 states for the full nine months of pregnancy. A mother’s right to abortion is known as the outcome of Roe v. Wade and falls under a woman’s right to privacy. More specifically, the court ruled that the government could restrict abortion access after the first trimester with laws intended to protect the woman’s health. Also, late-term abortions need the approval of a licensed physician to judge the procedure necessary to protect the mother’s health (Roe v. Wade: The 1973 Supreme Court Decision on State Abortion Laws, 1973) .   Ã‚  Ã‚  Ã‚  Ã‚  According to an article written by Michael W. McConnell, â€Å"the reasoning of Roe v. Wade is an embarrassment to those who take constitutional law seriously, even to many scholars who heartily support the outcome of the case (p. 136).† The first reasoning behind the decision is based on the â€Å"right of privacy† and that it is broad enough to encompass a woman’s decision whether or not to terminate her pregnancy. But the right of privacy is nowhere mentioned in the Constitution, as many would agree. Connell says that judges have found at least the roots of that right in the First Amendment, Ninth Amendment, ... ... No one ever thinks that rape will happen to them, but if it did, your decision now and your decision at that time may be different. Ultimately, should a woman have the right to choose between terminating her pregnancy and a potential life, or continuing with the pregnancy? Bibliography Fast Facts: History of U.S. Abortion Laws. (2003, January 21). FoxNews Channel Online. Retrieved February 12, 2005, from http://www.foxnews.com/printer_friendly_story/0,3566,881,00.html McConnell, Michael M. (1998). Roe v. Wade at Twenty-Five: Still Legitimate. In R. M. Baird (Ed.), The Ethics of Abortion: Pro-Life vs. Pro-Choice (pp. 135-138). Amherst, NY: Prometheus Books. Roe v. Wade: The 1973 Supreme Court Decision on State Abortion Laws. (1973). In R. M. Baird (Ed.), The Ethics of Abortion: Pro-Life vs. Pro-Choice (pp. 63-72). Amherst, NY: Prometheus Books. Thomson, Judith Jarvis. (1971). A Defense of Abortion. In R. M. Baird (Ed.), The Ethicds of Abortion: Pro-Life vs. Pro-Choice (pp. 241-256). Amherst, NY: Prometheus Books. Webster v. Reproductive Health Services. (1989). In R. M. Baird (Ed.), The Ethics of Abortion: Pro-Life vs. Pro-Choice (pp. 73-92)., Amherst, NY: Prometheus Books.

Disputing the Canon Essay -- The Loss of the Creature Walker Percy Ess

Disputing the Canon I was in the best of settings when I realized that Shakespeare was indeed great. My freshman year in high school, I had English class with an esteemed teacher, Mr. Broza—hailed as the Paul D. Schreiber High School Shakespeare aficionado, founder of Schreiber’s Annual Shakespeare Day, and, perhaps most heart-warming of all, a self-proclaimed Shakespeare lover whose posters of The Bard could be found as wallpaper in his small office. How lucky I thought I was. Indeed, if I wanted to appreciate Hamlet, I was in the right hands. But how misled I actually was—at least, in Walker Percy’s eyes. In his essay, â€Å"The Loss of the Creature,† Percy recalls a scene from The Heart Is a Lonely Hunter: †¦the girl hides in the bushes to hear the Capehart in the big house play Beethoven. Perhaps she was the lucky one after all. Think of the unhappy souls inside, who see the record, worry about the scratches, and most of all worry about whether they are getting it, whether they are bona fide music lovers. What is the best way to hear Beethoven: sitting in a proper silence around the Capehart or eavesdropping from an azalea bush? (521) Percy here contrasts two different approaches to viewing art—the girl who informally and spontaneously encounters the work of art, out of context, as opposed to the â€Å"unhappy souls inside† who formally prepare themselves for a kind of pre-packaged listening experience. Percy wonders which is better—a question meant for the reader’s pondering. But his essay offers his answer: we can only truly see or hear a piece of art by â€Å"the decay of those facilities which were designed to help the sightseer† (514). Perhaps Percy is right—it might have been better if my experience with Hamlet had been an accide... ...uch great heights to which I may leap, so many undiscovered territories awaiting my arrival. Works Cited Bloom, Harold. The Western Canon. Harcourt, 1994. â€Å"Borges, Jorge Luis; Joyce, James; Shakespeare, William.† Columbia Encyclopedia. 6th ed. 2000. Gould, Stephen Jay. â€Å"Women’s Brains.† Encounters: Essays for Exploration and Inquiry. 2nd ed. Ed. Pat C. Hoy II and Robert DiYanni. New York: McGraw-Hill, 2000. 305-10. Nietzsche, Friedrich. The Birth of Tragedy and Other Writings. Ed. Raymond Guess and Ronald Speirs. Trans. Ronald Speirs. New York: Cambridge UP, 1999. Percy, Walker. â€Å"The Loss of the Creature.† Ways of Reading. Ed. David Bartholomae and Anthony Petrosky. Boston:Bedford, 1996. Winterson, Jeanette. â€Å"The Semiotics of Sex.† Encounters: Essays for Exploration and Inquiry. 2nd ed. Ed. Pat C. Hoy II and Robert DiYanni. New York: McGraw-Hill, 2000. 642-51.

Factory Labor and the Domestic Sphere in the Lowell Offering Essay

In 1822, a group of Boston merchants and traders began their campaign to transform a riverbank below the thirty-foot falls of the Merrimack River into "the greatest textile manufacturing establishment in the country." These capitalists dug and improved the Merrimack canal, constructed machine shops, and built housing for mill executives, foremen and operatives. The cotton mills of Lowell, Massachusetts, and other New England sites began to employ the first female industrial labor force in the United States. Almost twenty years later, factory workers wrote and edited the Lowell Offering, a literary magazine showcasing the virtues and talents of the female operatives in verse, essays and short fiction (Eisler, 13-22). This ESSAY discusses the female Lowell factory worker as portrayed in the Offering. Although the magazine never expressed an overtly feminist view of the factory girls' condition, nor invoked a working-class consciousness similar to later labor expressions in Lowell, there is evidence of a narrative strategy and ideology speaking both to the factory women and the middle-class readership outside of the mill town. The paper's short stories, epistolary narratives and commentaries seek to legitimize an operatives' role within the feminine ideal of domesticity. In conforming to the norms of feminine literature, the Offering reconstructs the operatives' character. It subordinates the evidence for independence or autonomy to relate stories of familial or sentimental ties binding the factory girl to the world outside of factory life. The magazine sought to provide an answer to this question: given her new liberties, what kept the "factory girl" from losing contact with her moral sentiments? To a great degree, the economi... ..., 1820-1865. Columbia Studies in American Culture Series (New York: Columbia University Press, 1942): 13-14. Cott, Nancy F. The Bonds of Womanhood: "Woman's Sphere" in New England, 1780-1835. New Haven, CT: Yale University Press, 1977. Dublin, Thomas. Women at Work: the Transformation of Work and Community in Lowell, Massachusetts, 1826-1860. New York: Columbia University Press, 1979. Dublin, Thomas. "Women, work and protest in the early Lowell Mills: `the oppressing hand of avarice would enslave us.'" Labor History 16(1975): 99-116. Eisler, Benita. The Lowell Offering: Writings by New England Mill Women (1840-1845). New York: Harper Torchbooks, 1977. Welter, Barbara. "The Cult of True Womanhood." The Many-Faceted Jacksonian Era: New Interpretations. Contributions in American History, number 67, Edward Pessen, ed. Westport, CT: Greenwood Press, 1977.

The Base Stock Model

The Base Stock Model 1 Assumptions ? Demand occurs continuously over time ? Times between consecutive orders are stochastic but independent and identically distributed (i. i. d. ) ? Inventory is reviewed continuously ? Supply leadtime is a fixed constant L ? There is no fixed cost associated with placing an order ? Orders that cannot be fulfilled immediately from on-hand inventory are backordered 2 The Base-Stock Policy ? Start with an initial amount of inventory R. Each time a new demand arrives, place a replenishment order with the supplier. An order placed with the supplier is delivered L units of time after it is placed. ? Because demand is stochastic, we can have multiple orders (inventory on-order) that have been placed but not delivered yet. 3 The Base-Stock Policy ? The amount of demand that arrives during the replenishment leadtime L is called the leadtime demand. ? Under a base-stock policy, leadtime demand and inventory on order are the same. ? When leadtime demand (invent ory on-order) exceeds R, we have backorders. 4 Notation I: inventory level, a random variable B: number of backorders, a random variable X: Leadtime demand (inventory on-order), a random variable IP: inventory position E[I]: Expected inventory level E[B]: Expected backorder level E[X]: Expected leadtime demand E[D]: average demand per unit time (demand rate) 5 Inventory Balance Equation ? Inventory position = on-hand inventory + inventory onorder – backorder level 6 Inventory Balance Equation ? Inventory position = on-hand inventory + inventory onorder – backorder level ? Under a base-stock policy with base-stock level R, inventory position is always kept at R (Inventory position = R ) IP = I+X – B = R E[I] + E[X] – E[B] = R 7 Leadtime Demand ? Under a base-stock policy, the leadtime demand X is independent of R and depends only on L and D with E[X]= E[D]L (the textbook refers to this quantity as ? ). ? The distribution of X depends on the distribution of D. 8 I = max[0, I – B]= [I – B]+ B=max[0, B-I] = [ B – I]+ Since R = I + X – B, we also have I–B=R–X I = [R – X]+ B =[X – R]+ 9 ? E[I] = R – E[X] + E[B] = R – E[X] + E[(X – R)+] ? E[B] = E[I] + E[X] – R = E[(R – X)+] + E[X] – R ? Pr(stocking out) = Pr(X ? R) ? Pr(not stocking out) = Pr(X ? R-1) ? Fill rate = E(D) Pr(X ? R-1)/E(D) = Pr(X ? R-1) 10 Objective Choose a value for R that minimizes the sum of expected inventory holding cost and expected backorder cost, Y(R)= hE[I] + bE[B], where h is the unit holding cost per unit time and b is the backorder cost per unit per unit time. 11 The Cost Function Y (R) ? hE[ I ] ? bE[ B] ? h( R ? E[ X ] ? E[B]) ? bE[ B] ? h( R ? E[ X ]) ? (h ? b) E[ B] ? h( R ? E[ D]L) ? (h ? b)E ([ X ? R]? ? h( R ? E[ D]L) ? (h ? b)? x ? R ( x ? R) Pr( X ? x) ? 12 The Optimal Base-Stock Level The optimal value of R is the smallest integer that satisfies Y (R ? 1) ? Y ( R) ? 0. 13 Y ( R ? 1) – Y ( R) ? h ? R ? 1 ? E[ D]L ? ? (h ? b)? x? R? 1 ( x ? R ? 1) Pr( X ? x ) ? h ? R ? E[ D]L ? ? (h ? b)? x ? R ( x ? R) Pr( X ? x) ? h ? (h ? b)? x? R? 1 ? ( x ? R ? 1) ? ( x ? R) ? Pr( X ? x) ? h ? (h ? b)? x ? R? 1 Pr( X ? x) ? h ? (h ? b) Pr( X ? R ? 1) ? h ? (h ? b) ? 1 ? Pr( X ? R) ? ? ? b ? (h ? b) Pr( X ? R) ? ? ? ? 14 Y ( R ? 1) – Y ( R) ? 0 ? ?b ? (h ? ) Pr( X ? R) ? 0 b ? Pr( X ? R) ? b? h Choosing the smallest integer R that satisfies Y(R+1) – Y(R) ? 0 is equivalent to choosing the smallest integer R that satisfies b Pr( X ? R) ? b? h 15 Example 1 ? Demand arrives one unit at a time according to a Poisson process with mean ?. If D(t) denotes the amount of demand that arrives in the interval of time of length t, then (? t) x e t P r( D ( t ) ? x ) ? , x ? 0. x! ? Leadtime demand, X, can be shown in this case to also have the Poisson distribution with (? L ) x e L P r( X ? x ) ? , E [ X ] ? L , and V ar ( X ) ? ? L . x! 16 The Normal Approximation ? If X can be approximated by a normal distribution, then: R * ? E ( D ) L ? z b /( b ? h ) V ar ( X ) Y ( R *) ? ( h ? b ) V ar ( X )? ( z b /( b ? h ) ) ? In the case where X has the Poisson distribution with mean ? L R * ? ? L ? z b /( b ? h ) ? L Y ( R *) ? ( h ? b ) ? L ? ( z b /( b ? h ) ) 17 Example 2 If X has the geometric distribution with parameter ? , 0 ? ? ? 1 P ( X ? x ) ? ? x (1 ? ? ). ? E[X ] ? 1? ? Pr( X ? x ) ? ? x Pr( X ? x ) ? 1 ? ? x ? 1 18 Example 2 (Continued†¦) The optimal base-stock level is the smallest integer R* that satisfies Pr( X ? R * ) ? b b? h ln[ b ] b ? h ? 1 ln[ ? ] ? 1? ? R * ? 1 b ? ? R* ? b? h b ? ? ln[ ]? ? * b? h ? R ? ln[ ? ] ? ? ? ? 19 Computing Expected Backorders ? It is sometimes easier to first compute (for a given R), E[I ] ? ? R x? 0 ( R ? x ) Pr( X ? x ) and then obtain E[B]=E[I] + E[X] – R. ? For the case where leadtime demand has the Poisson distribution (with mean ? = E(D)L), the following relationship (for a fixed R) applies E[B]= ? Pr(X=R)+(? -R)[1-Pr(X? R)] 20

Foundations of Nursing Practice Essay

A admonition on how the module issue and associated exercise experience has landd to the students schooling as a comfort.This es assert is a discussion on how the module content and practice experience has contributed to mortalal education as a think of. Therefore it testament focus on firstbornly the invention of individualise dispense and its relevance to harbor assessment and disquiet delivery, secondly the respect commensurate and professional issues that impact maintain much(prenominal) as confidentiality, combine and self-regard. The es advance supply al unmatched in like manner focus on exploring the unlike communion stickers and the development of the therapeutical kind amidst the nurse and the profit exploiter, and eventu aloney the organisation and delivery of trouble at bottom the practice environment. With particular reference to a recent placement, at a mitigatory negociate breast feeding stead, this undertake result discuss Har riet, an 88 year obsolescent lady with chronic bronchitis and suffers with multiple sclerosis. For confidentiality purposes the name of proceeds users ache been changed to comply with the nurse and tocology Council, cipher of Conduct (NMC 2008).This appointment will firstly discuss the tell come up to nurse, which developed in the ground forces during the 1950s and 1960s, which coincided with the development of the treat possible action and amazes of nursing which began to challenge the medical model of heartyness slabber off (Lloyd, autograph, Campbell 2007). The nursing touch on slew be carried out successfully by implementing a popular model utilise extensively in the UK before by Roper et al posture up forivities of spiritedness model in which it is based in the main upon the 12 activities of daily living still Henderson ackat onceledges 14 activities that pot engage in (Kozier, Erb 2008). This model identifies all deficit in their look at usually u pon admission it is reviewed as the precaution political platforms of the serving user make grow afterward which an intervention whitethorn be granted to the dish up user. The nursing plateful that was attended for placement had person centred interest plans in which they based them on the 12 activities of daily living from sleeping, eating and drinking to mobility and communion these were short term c atomic number 18 plans that were reviewed monthly.An other model that is frequently used descri make out by Ellson (2008, pg22) is the breast commissariating Process, when it was ab initio identified Yura and Walsh (1978)showed that it is a four salute cycle that begins with assessment. Harriet was assessed by the Doctor as the registered nurse in charge (RGN) disc everyplace a change in her health she had developed a wheeze when public lecture and had a chesty cough, the RGN suspected a chest contagion. A mete out plan was and so devised to follow up the assessm ent. Harriet was to be started on a trail of antibiotics for a week, and was to be resumed on her nebuliser. The attention was then implemented the followers day during the break of the day drugs round. An evaluation of that bursting charge comp permites the cycle in which Harriet was to be seen by the Doctor the following week after completing her course of antibiotics and was to remain on her nebuliser.Additionally, more than than wholeness stage toilette be occurring at the same time, for instance assessment may coincide with implementation (Carpenito-Moyet 2007). If goals be achieved after the first cycle, cautiousness maybe ended or in some cases special and the service user reassessed. (Ellson 2008, pg22) This work on is intentional to enhance ashesatic kick, drive confabulation amongst team members and encourage persistency (Mason 1999 cited in Habermann, Uys 2006).The RGN wrote in Harriets daily taradiddle and updated her wish plans, identifying her chang e in medication and change in her health. end-to-end nursing there are many an(prenominal) ethical and professional issues that impact on it from confidentiality, consent to respect and dignity, to clear and accurate records and running(a) as part of a team. The nurse and Midwifery Council Code of Conduct (NMC 2008) all the personal manner states that nurses should en real they gain consent (NMC 2008) from the service user this lavatory be anything from examining, providing kick and with child(p) handling. Consequently a nurse has to be prepared if a service user declines their help as they open a right to refuse treatment based on knowledge of the outcomes and risks (Wilkins and Williams 2008). certified consent is a confabulation edge surrounded by the permitr and the service user this is now appreciate as a professional ideal of conduct (Westrick and Dempski 2009). even so if there is a case where the service user does non have the cordial capacity to give co nsent, they are protected by the Mental Capacity Act 2005 in which during the decision making touch their rights and interests are accounted for (Griffith and Tengnah 2010). My first task at placement was to try and pass on Harriet, I introduced myself along stead a health care assistant and asked if I was able-bodied-bodied to fertilize her lunch, I was refused, on the grounds that I was a fresh face and that she did non know me so I let the health care assistant feed her. The following day after assisting the RGN with Harriets medication, she kindly said to me that she would let me feed her today if I was able to so at lunch time I went along with another health care assistant to feed her.Another master(prenominal) ethical issue is maintaining a persons dignity as Watson (1994) citing (Watson 2008) states that maintaining valet de chambre dignity is a vital nursing duty and function, that ineluctably to be recognised and respected in which people make to their own care a nd well organism (NMC Code 2008). This can be associated with many aspects of care such as retreat laving, stoma care, peg tube care as Westrick and Dempski (2009) go on to say that it is down to the service user to say what is to be d adept with his or her ashes. Fenton and Mitchell (2002) cited in Franklin, Ternestedt and Nordenfelt (2006) argue that elderly people receiving care regarding dignity is a state of physical, stirred up comfort, subsequently when this is not al federal agencys adhered to it can leave the service user aroma embarrassment, shame, humiliation, foolishness and degradation (Mairis 1994 cited in Watson 2008). and nurses themselves can become emotional if the standard of care effrontery is not fit this is back up by the Royal College of nurse survey (2008) asking nurses for their views on dignity in care in which over 80% said they sometimes or always left work disquieted due to not being able to deliver the quality of care they fancy they should g ive (Gallagher, Tschudin 2010). When asked to give a fuck bath to Harriet, I made sure that only the area being cleaned was assailable and then covering up other private areas in case anybody was to innovate her room. When Harriet was seen by the Doctor regarding her chest infection I treated the information sensitively and maintained confidentiality with all her health records.The strawman of the therapeutic relationship lies at the warmheartedness of patient centred nursing. all the same the nature of this one to one relationship is very restricted on the context in which nursing care is delivered (McCormack 2004 citing OConnell 2008). Therefore the edifice blocks for this relationship should focus on genuineness, empathy and respect, which should leave the service user smell outing supported as well as listened to, whilst the nurse lives value in their role (Dossey, Keegan, American Holistic Nurses Association 2008) Whereas Bynum-Grant and TravisDinkins (2010) go on to say that whilst the therapeutic relationship is at the core of nursing it is the knowledge and scientific discipline along with the caring attitudes and behaviours applied that shit the foundations of this relationship. I spent a look at of time with Harriet getting to know her, and expression a relationship of trust with her, in order for me to attend her personal care needfully, give her medication orally chthonic direct supervision.This assignment will now discuss the hard-hitting chat skills end-to-end nursing that helps practitioners to engage with the service user, by making sure arrangements are met for peoples language and communication needs (NMC Code 2008) Studies have shown that the relevant communication means given to an individual can correct well-being (Bell 1996, Happ 2001 cited in bats 2009). Means of communication that have turn out successful are non verbal techniques such as writing, drawing or by gesture, and then communication aids have been made available such as providing a pen and paper, or rudiment charts (Batty 2009).Effective communication is seen as a fundamental competence required for adjustment as a nurse ( nursing and Midwifery Council 2004 cited in Timmins 2009) Timmins and Astin (2009) also goes onto beg off that continuity of care supports high quality communication as it builds up the relationship between nurse and service user and is a main feature of patient centred care. crinkle and Meurier (2005) cited in Cox and hill (2010) defines communication as a two way process in which information is inherited and received.However listening to service users and their families is cardinal to the communication process (Timmins and Astin 2009) Harriet could communicate easily, her hear was slightly impaired therefore you had to enshroud loudly and cl azoic she was on inwardness drops as her sight was deteriorating and she was very well spoken and if I was to say something wrongly she would be very quick to comprise me. Harriet however was slightly confused and sometimes repeated things she had said a few moments ago, she also had imaginary friends she would refer to whilst talking to me.This essay will now research the delivery of care in nursing which is very important as this can impact the service users experience. There are three ways in which care can be delivered this is by elemental care, task storage allocation and team nursing. primitive nursing began in the 1970s as a way to overcome dissatisfaction with working(a) and team nursings ferocity on tasks that directed nurses attention away(p) from holistic care of the client (Huber 2006).Walsh and Crumbie (2007) explain that uncomplicated care nursing involves one nurse being liable 24 hours a day for all care delivered to a patient. However Thomas (2006) identifies this is not always necessary as care can be delegated to other nurses or health care assistants yet the base nurse carries responsibility for writing care plans and ensuring that long term goals are met. Skelton (2001) cited in Timmins and Astin (2009) suggest that this approach shot fosters autonomy and gets them touch on with their care rather than health professionals dictating their care to them. Within the nursing home the primary nursing approach to care was not suitable as there were too many service users for one nurse to focus all their attention to at one time.Many health care settings would deny using task orientated care however in existence it still goes on and tends to induce stoicism and reduce team morale. Task allocation on the other hand may be the most suitable way of allocating the workload (Thomas 2006) especially during rung shortages or plastered health care settings. contempt the nursing home having person centred care plans and making individualising the care needs, the nursing home still took on the task allocated approach as all the residents had breakfast by 8am and were washed and trimed by 9am . However as Harriet was unable to feed and dress herself due to having multiple sclerosis she was frequently left until last to have these needs addressed as two health care assistants were required. group nursing was developed in the early 1950s it was designed so that staff strengths can be used to the supreme and aids group productivity and appendage of team members. By using this system nurses should still be able to provide individualised nursing care (Lloyd, Hancock and Campbell 2007) therefore nurses take on certain roles such as temperature, medication or a nurse for the right side of the ward (Kalisch and Kalisch 1978 Reverby 1987 cited in Huber 2006).Communication is therefore key for this model to be effective as the team leader infinitely evaluates and communicates changes of the patient to the team members (Zerwekh, Claborn 2006). It also allows the nurse to delegate patients to the strengths of the staff with what their care focuses on (Tiedeman and Lookinland 200 4 cited in Zerwekh, Claborn 2006). Unfortunately the care given can become fragmented and thus ineffective and productivity decreased among team members if there are staff shortages. Harriets care followed this approach, as she was bed fix the arjo hoist was the only way of transferring her from bed to chair this required two people, as did log rolling Harriet for her bed bath so she was cleaned effectively and appropriately.I feel the module content has contributed to my development as a nurse as it taught all the relevant information take for my first placement. I was able to see how the possible action coincided with the practice which also contributed to my development as a nurse. For example I was able to see how the individualised care approach was introduced into the person centred care plans used deep down the nursing home. I was also able to see how the therapeutic relationship was strengthened amongst the nurses in charge, the health care assistants and other members of the multidisciplinary team, they each had their own style of approaching the service user in regards to their attitudes, body language and behaviour, this I was able to clunk up and use myself which made me handle situations better.The module content went into great abstrusity and was given in a mutation of learning styles which suited my learning regulation having come straight from school I feel the type of learning given has strengthened my ability to learn and the relevant theory made me feel more confident when attending placement. Having learnt the theory I was able to put some of this internal experience into practice, as having had no forward experience within health and companionable care I felt unstable at first but as more faith and confidence was put into me via my mentor and other staff members, this helped me feel more involved and more light with working within this environment giving me the confidence boost I needed. Throughout the placement I was guided end-to-end every task that I had to carry out, I was taught it first by mentor and then passim the weeks I had to improve on what I had learnt, the registered nurses I dim were very supportive and approachable which helped me greatly.In conclusion this essay has discussed the concept of individualised care by incorporating the nursing process and models that evaluate the service users health and identifies the care needed and any deficits in their care. Nurses uphold a nature in which the ethical and professional issues are the foundations of this. As explored throughout this essay it shows that confidentiality, consent and dignity are fundamental throughout nursing and need to be integrate into the care provided by the nurses.Various models of communication have been identified throughout this essay its relevance shows how the nurse must move with service user, this is very important as the service user needs to be able to express their concerns of their health every verball y or non verbally. The therapeutic relationship is at the epicentre of nursing as this can impact a service users experience within a health and social care setting. The essay has also explored the organisation and delivery of care needed to be most effective throughout nursing. Overall the essay has focused on various fundamental aspects of nursing that contribute to the way care is delivered to service users. reference work List* Batty S. (2009) Communication, Swallowing and Feeding in the Intensive billing Unit patient. breast feeding in censorious Care. 14(2,July/August). pp.175-177.* Bynum Grant D and Travis Dinkins M,M. (2010) Schaums Outline of Psychiatric Nursing. Online. accessible at http//books.google.co.uk/books?id=ru57ujcVO6sC&printsec=frontcover&dq=schaums+outline+of+psychiatric+nursing&hl=en&ei=XcZmTeb7HZSyhAfUkJy4DQ&sa=X&oi=book_result&ct=book-thumbnail&resnum=1&ved=0CEUQ6wEwAAv=onepage&q=therapeutic%20relationship%20is%20at%20the%20core%20of%20nursing%20&f= chi merical. (Accessed25 January 2011).* Carpenito-Moyet L. (2007) understand the Nursing Process Concept affair and Care Planning for Students. Philadelphia Lippincott Williams& Wilkins.* Cox C. and Hill M. (2010). Professional Issues in Primary Care Nursing. Oxford Blackwell Publishing.* Dossey B,M., Keegan L. and American Holistic Nurses Association. (2008). 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