Goal Statement for a master program Personal Example | Topics and Well Written Essays - 750 words

Goal for a master program - Personal Statement Example My initial plan was to delve into a career in finance or marketing which were potentially interesting at that time, prior to the financial global crisis. However, after I transferred to George Mason University (GMU), I decided that Biology major is a better fit for me. A career in biology gives opportunities in the areas of research, health care, environmental management and conservation, and even in education, where I am more enthusiastic in. I am duly organized, determined, consistently a high academic achiever. The awards and accolades from GMU speak of my personal discipline and intellectual talent. I prefer analyzing data, looking at a big picture than doing research at a lab. I am fluent in English and Vietnamese; proficient in using the Microsoft Office Suite program and a reliable team worker. Studying at GMU was a great and rewarding experience. The academic institution is just exemplary and the professors are all inspiringly impressive. The interactions with my professors and my friends made me want to come back and pursue higher education. My original plan was to apply for a master program in Biology at GMU. However, I inadvertently missed the application deadline so I opt to study for a certificate program in Bioinformatics instead. I believe that this is one of the few certificate programs at GMU that has the option which allows students to take additional courses to earn a master degree after finishing the certificate program. Likewise, it is one’s personal contention that Bioinformatics will give me more selections and opportunities for future career paths. As I have had professional experience working as a pharmacy technician, the program is appropriately applicable and can be used to further my craft. More importantly, I could be given more privileges in terms of working with either public or private scientific research institutes, hospitals, manufacturing organizations of

Human Resources Organisational Change and Development Essay

Human Resources Organisational Change and Development - Essay Example This is a real case study of a merger between these two companies. Both the companies were multinationals having offices in various parts of the world. However, this case study refers to the change management problems encountered in Pakistan. The change process was first adopted in other countries and implemented as is in Pakistan after their success. During the year 2004, the Group Sanofi-Synthelabo and Aventis merged to create Sanofi-Aventis. Sanofi-Aventis operates within the Pharmaceutical preparations sector. The Group's principal activities are the research, production and distribution of pharmaceuticals. It has operations in more than one hundred countries worldwide on 5 continents. Consolidated sales of 25 billon euros and 4 billion euros Research & Development expenditure based on 2003 reported figures Sanofi and Aventis are both well known pharmaceutical companies. However, with time, their certain geographical operations centers have become non-productive and year after year are unable to deliver the same performance as it used to. There are various factors that made this merger necessary including: The management of both the companies i.e. ... Increase in price of labour, minimum wage laws THE REASON TO CHANGE Change Objective: - The basic objective was to successfully create the worlds third largest pharmaceutical group. INDUSTRY LEADERSHIP According to the last IMS report Sanofi-Aventis is the 3rd largest company worldwide and number one in Europe. The market share of 5.6% is also amongst the highest in the industry. Research and Development Expenses at Sanofi-Aventis are among the top 3 in the industry. Their growth rate of over 11.4% as reflected by IMS and market share of 4.6% is among the top in the industry. Their sale is approximately 3+ billion The management of both the companies i.e. Aventis and Sanofi realized that this would include a complete change management program to be devised keeping in mind the individual nature of the organizations internal cultures. This change management program had to be devised in such a way as to minimize dissatisfaction and job insecurity in the current human resource employed at both the companies. For this purpose, both the companies decided to opt for planned change. According to Stephen P. Robbins, "planned change, refers to change activities that are intentional and goal oriented" The planned change programs to be implemented at both the organizations were to encompass the following spheres: Changing structure, or in essence redesigning of organizational structure. The critical issue faced was duplication of human resources at similar parallel positions. For these cases the candidate with the better profile including education, technical expertise, years of experience and skills up gradation , would retain the old job designation, responsibilities, whereas the other candidate would be offered a

Relationship Between Asset Price and Monetary Policy

Relationship Between Asset Price and Monetary Policy With the development of capital market and the innovation of finance, asset prices have taken a more prominent role in financial economy. Meanwhile, financial crisis and economy turbulences arouse by abnormal assets price fluctuation appear in many countries. Currently, China is confronted with the reality of asset prices inflation. Asset prices rapidly fluctuation bought gigantic impact to monetary policy, therefore, study the relationship between asset price and monetary policy according to Chinas economy is significant. This dissertation applies correlation analysis, unit root test, cointegration test and Granger causality test in the empirical analysis of the relationship between asset price and monetary policy, from the data analysis, we could conclude that asset prices and monetary policy have a long-term relationship. The central bank should focus on the role of asset price on the transmit mechanism of monetary policy. 1. Introduction Motivation With the development of modern capital market and financial innovation, the world economy has into the financial economy era, and disappears increasingly capitalization, virtualization trends. It is no doubt that modern capital market has provided a powerful lever for economic growth, but its instability also cause macroeconomic fluctuations , and in particular the asset price bubbles, which is becoming a key factor for financial crisis and economic fluctuations. So far, the most developed Western countries have experienced a long period of rapid growth, concern is that global asset price has increased sharply in recent years. In the late 1980s, the stock market and real estate in Japan as the representative of asset prices have greatly increased ,which also caused Japanese economy into the bubble economy, the credit crunch and economic recession arising from the bubble economy have serious negative effects so far. In 2006, the Dow Jones industrial average index in USA was beyond the highest point of network technology bubble expansion from 2000, the stock market of many other developed and emerging market countries generally strongly increased and was beyond history records. In addition to the security market , the global real estate, gold and oil market are also very active. In 2001-2005, real estate prices have nearly doubled in many developed countries, meanwhile, real estate price in many developing countries has also generally increased . In May 2006, the international spot gold price reached USD per ounce 718 score in New York City market since 1980. In mid-July 2006, the International crude oil futures price GE exceeded the highest record to reach 75 USD/barrel. But, inevitably brought the more serious financial crisis in 2007, which has caused huge economic fluctuations to the economy from 2007. In China, securities market have established for ten years, the shares of negotiable securities in the structure of residents capital portfolios continued to be increasing, in 1992, the total value of Chinese stock market is 1048 billion yuan, accounting for only 3.9% of gross domestic product (GDP) ratio . But in 2007, the stock market value is 327141 billion yuan, the ratio of market value in GDP has being greatly rising to 130% , which is 312 times growth compared with the total stock market value in 1992 . Not only a huge amount, but also the fluctuations of asset prices have become more frequent and intense. In 2006-2007, Chinese economy under the driven of stock market and real estate market has a certain degree of asset price bubbles. While in the same time , Chinese economy is actually facing the reality of asset price falling from the top digit, shanghai security market falls rapidly from the peak position in 2007, the stock market bubbles receive the extrusion, the real est ate market similarly is also facing the similar situation, house price of major cities has falls obviously, the turnover falls into the valley. All of these financial crisis constantly are reminding people that the worldwide economic fluctuations are characterized by the financial instability , and economic cyclical fluctuations, instead of disappearing, and to be getting worse, cause considerable economic depression, frequent asset price volatility and financial crisis and economic recession arising from the asset market collapse, hence , the government should focus on the asset prices on the role of macroeconomic fluctuations and the central bank in the world have to consider the information from asset price fluctuations. The Fed Chairman Alan Greenspan and Bernanke concern much about monetary policy and asset price volatility. Alan Greenspan proposed central banks should be more concerned about the issue of asset price bubbles in the anniversary meeting celebrating the establishment of the Bank of England in 1994 . Chairman Bernanke is an internationally recognized as the founder of monetary policy and asset price researc h. At their encouragement , the international academic community and the national central banks have recent research and debate whether the monetary authorities should intervene directly in asset price fluctuations. These research and debates are from the different backgrounds in different countries, in accordance with their different assumptions and premises, provide some significance policy advice. Financial markets in particular capital market deepening and broad-based, and financial innovation enables financial institutions have diversity features. The boundaries of currency and other financial assets is blurring, money supply and real economic variables lost stability, the monetary policy impact on the real economy is no longer limited to traditional approaches, according to the traditional Keynesian theory, this impact on consumption and investment mainly through interest rate variable . But as the improvement of financial system and increase of financial assets stock , monetary policy can also use the wealth effect of asset prices and Tobin q to affect the consumption and investment, causing the changes of total demand, in stick price, the aggregate demand led to a change in the output , and cause the effect of the output changes on demand, if the aggregate demand exceeds the aggregate supply ,it can lead to inflation pressures. This series of transmission mechanism make t he role of asset market on the real economy become more prominent, asset price has become a major transmission channel of monetary policy . From the reality in China, the rapidly development of asset markets have a key role in our national economy, the impact of real estate market and stock market on economic and monetary policy are becoming increasingly apparent. In fact, the Chinese monetary authorities have also already begin to pay attention to the relationship of asset price and monetary policy . Xiaochuan, Zhou , as the Governor of Chinese central bank ,says that the central bank concerns about changes in asset prices and gives full attention to information from asset price when formulating and implementing monetary policy. Therefore, study the relationship between asset price and monetary policy in Chinese economy is significant. This dissertation analyze the relationship of asset price and monetary policy systematically, and will use econometric methodology to seek to explore the relationship between asset price and monetary policy in China by using quarterly statistics from 1998 to 2008. I will estimate the relationship between monetary policy variables and asset price variables , through correlation analysis, unit root test, cointergration test Granger Causality test to get the conclusion. This dissertation conclude the results that ¼Ã… ¡monetary policy and asset price have a long-term relationship, in a short time, the monetary policy aggravated the asset price fluctuations to some degree, the asset market appeared to be rapidly soared and shirked in a short period of time. The central bank should focus on the role of asset price on the transmit mechanism of monetary policy. 2. Literature Review 2.1 Empirical Studies from Western Economists The research from western economists on relationship of asset price fluctuations and monetary policy mainly reflects the two views. First, asset price and monetary policy do not exist the causal relationship on behavior , and the only relationship is on the information that reflects the present and future output growth. Another view on research of asset price fluctuation and monetary policy is that asset price can affect consumption and investment through wealth effects , the change of capital cost and asset price fluctuations affect consumption and investment respectively through wealth effects and Tobin q, thus affect the financial institutions status of assets and liabilities , further affect the stability of the financial system. It is evidently that asset price has become the transmission mechanism of monetary policy. Frank Smets (1997) is one of the economist who systematically analysis the optimal monetary policy that Central Bank should response on asset price change. He has proposed the following important viewpoint: how the central bank should respond to monetary policy reflecting the unexpected change of asset price, how this change affect the central banks inflation forecast. There are two factors affecting the central bank forecast inflation. First is that the effect of asset price on transmitting mechanism of monetary policy. Second is that the unique information on asset price. He established a simple macro-economic model that contains equation of Phillips curve, aggregate demand on financial asset prices (as represented by the stock price) , arbitrage and dividend , he uses this model to examine the variety of ways that change of financial assets price affect the real economy, and analysis the optimal monetary policy of central bank response to financial asset price movements. He demons trate that the optimal monetary policy of central bank response to financial asset price movements, that is, according to the structure of established model , weighted average of the short-term interest rate ( traditional intermediary target of monetary policy) and asset price as price index — monetary conditions index (MCI) , and regard this index as the target of monetary policy operations, therefore it can properly guide central bank make effectively response on monetary policy to change of financial assets price. Gunnarsson and Lindqvist (1997) have discussed the role of asset price on monetary policy from the wealth effect on change of asset price and the effect of inflation. They conclude that the monetary policy should be given more attention on the change of asset price, although it is very difficult to explain. They believe that the change of asset price affect monetary policy as long as this change is long-term change, and in recent years, the impact of this change of asset prices on the economic has been more and more important, so the central bank should spend more energy to analyze the relationship of asset prices and monetary policy, although this relationship is hard to explain but indeed existing. They believe that asset price as an indicator for monetary policy might contribute to the inflation forecast. B.Bemanke and M.Gcrtler (2000,2001) have provided that :In an particular assigned situation , the monetary policy respond to the change of asset price is determined by if existing of the inflation or the deflation pressure on real economy or not, if this change of asset price do not bring the inflation or the deflation pressure on the real economy, then the monetary policy does not need to respond to this kind change of asset price, but If this change of asset price indicates that it indeed brings the inflation or the deflation pressure on the real economy, then the monetary policy should make some response to alleviates this pressure. They propose the above policy seriously under the system frame of flexible currency inflation goal. Cecchetti, Genberg, Lipsky and Wadhwani (2000) have noted that how the central bank respond to asset price fluctuation mainly depends on the nature of the asset price fluctuation. When only have the shock of financial aspect on macro-economy, the central banks exchange rate policy should make an appropriate response, because doing so will avoid the financial shock on the stability of real economy . When the central banks target is to minimize the fluctuations of Inflation ratio and economic output gap to their target value , the central bank take possible action to eliminate the negative effects of financial volatility is a very good thing. 2.2 Empirical Studies from Chinese Scholars After the Asian financial crisis in 1997, the scholars in China have began to research the relationship between asset price and monetary policy. From a theoretical viewpoint, on the one hand, monetary policy have an impact on asset prices through the adopted operation tool, on the other hand, as a virtual asset relatively to physical asset , asset price fluctuations can also have some impact on peoples consumption and investment behaviour, hence, affect economic development through consumer and investment , further transmit monetary policy purpose to the real economy. Xiaoan Qian (1998) finds that change of asset price make a difficulty in monetary policy transmission mechanism, this will cause the certain effects on monetary quantity management, inflation control and financial risk avoidance. The increase of asset price has been made transmission role of the monetary policy in the currency market change and become a source of funds in the asset markets, causing short-term funds long-term occupation , so that the transmission mechanism of monetary policy to occur difficulty. Part of funds seperated from the bank system, directly to the virtual asset markets. Wenjun Xun (2000) believes that the development of capital market increase the number of the emerging non-bank organization such as superannuation fund, the mutual fund, the Insurance company and so on, the bank also participates in the competition of capital market , the effect of the capital market on the real economy gradually highlight, the transmitted mechanism of monetary policy increases, economic subject and its behavior are diversity, uncertainty about the economical movement increases, therefore the transmitted mechanism of monetary policy is more complex. They thinks that Central Banks monetary policy should control official interest rate through the market , thus indirectly influence the bond and the stock market price in capital market, further influence real economy, achieves the monetary policy goal. Qiang Qu (2001) has found that it is difficult to put asset prices as the goal of direct control of monetary policy in the monetary policy operations, the possibilities and accuracy of establishment of general asset price index is very small, asset prices can only be used as an indirect reference, in short, to concern on it , but not target on it. Gang Yi and Zhao Wang (2002) have considered that monetary policy have impact on financial asset prices (in particular the stock price), the relationship of currency quantity and inflation not only depends on the price of goods and services, and in a certain degree depends on the stock market. Tianyong Guo(2006) has affirmed the role of asset price fluctuation on real economy , financial stability and monetary policy through analysis, at the same time, he also points out that the asset price as regulatory targets exist difficulties. Chang Cui (2007) analysis the role of asset price on monetary policy through the model , in asset price inflation period, the central bank can take the measure of interest rate for a given period too control asset price fluctuation, and control the money supply when asset price bubbles exist will receive immediate effect. While in asset price downturn period , interest rate adjust asset price have obvious and relatively durable effect. Yuanquan Yu (2008) obtains through the empirical analysis: the asset price has a certain influence on macroeconomic , particularly the effect of house price is more obvious. Therefore, the Central Bank must give the appropriate attention and control on asset price in the implement of monetary policy . In an conclusion, the asset price fluctuations have an certain impact on the ultimate objective of monetary policy, we can not ignore the unique role of asset price on the transmission mechanism of monetary policy and the macro-economic activities. The central bank should concentrate on the effect of asset prices on monetary policy, particularly in asset prices fluctuations periods, the vast majority of economists believe that the central bank should take an certain monetary policy to address and reduce the negative effect of the economy. For most of research focuses on the study of asset price fluctuation and its relationship with monetary policy, the role of asset prices in the transmission mechanism of monetary policy , as well as the effect size issues ,this dissertation based on the domestic and foreign scholar research results , deeply analyzes the transmitted mechanism of monetary policy in asset price through the impact of monetary policy on asset price . 3. Data Description This dissertation focus on the relationship between asset price and monetary policy in China according to the quarterly statistics during the year of 1998 to 2008. This dissertation mainly use the stock price (index) and house price(hsp) as indicators of asset price , and use boarder money supply (m2), financial institution loan (loan), real rate (rate) as indicators of monetary policy for simplicity. Due to the amount of the data of these variables are really great, we take log of these variables to analyze. This dissertation get all needed data from China Economic Information Network, which is a professionals institution engage in the development of economic data resources and services, provide data support, data integration, and other business data analysis for government and research institutions. All the quarterly data we need from 1998 to 2008 is recorded in the China Economic Information Network. à £Ã¢â€š ¬Ã¢â€š ¬ 3.1 Indicators for asset price in China Asset prices generally including stock prices, bonds, prices, and even exchange rate, and other financial assets and house prices. However, the stock price and house price have a significant effect on real economy, and its fluctuations can have a key role in monetary policy decision-making, hence, in this dissertation , we will use the stock price and house price refer to the asset price. In particular, the Shanghai securities composite index is on behave of the stock price for data limitations, Shanghai securities composite index is established by the Shanghai stock market to reflect the Shanghai securities trading market overall trend. House price is on behave of the average house price in China. We can easily get these data from the China Economic Information Network. 3.2 Indicators for monetary policy in China Monetary policy refers to the Government or the Central Bank influence economic activity, especially by money supply control and regulation of interest rates. To achieve a specific goal or maintain target — for example, curbing inflation ,achieving full employment and economic growth, directly or indirectly through open market operations and setting the minimum reserve rate. There are many factors needed to be consider in implementing monetary policy, for data restrictions, in this dissertation ,we mainly consider the variable of boarder money supply, financial institution loan and real rate. First, boarder money supply (lnm2) indicates the change of aggregate supply and pressure condition of inflation in the future. In china, boarder money supply is narrow money supply plus the saving, foreign currency and fiduciary deposits of government, organizations, services, businesses and institutions in financial institution. Boarder money supply can be used as a medium and long-term equilibrium target to regulate of financial markets .It is usually the rate of boarder money supply increasing should be controlled at the sum rate of economic growth and price inflation, monetary movement. Second, financial institution loan have some disadvantage as a indicators of monetary policy. First, it is closely associated with the monetary policy objective. Currency circulation and deposit currency caused by loan, the Central Bank control the size of the loan, which also mean to control the money supply. Second, financial institution loan is an accuracy an endogenous variable , loan size is positive correlation with loan demand. As a policy variables, loan size and the demand also have a positive correlation. Furthermore, data of financial institution loan is easily accessible . Third, real rate refers to the real rate of interest return that the depositors and investors can get after eliminating of inflation rate, it is calculate as nominate rate minus CPI. Real rate can be used as the indicator of Central Banks monetary policy due to following reasons : (1) real rate reflect the supply of money and credit, and able to show the relative supply and demand, it is correlation with nominal interest rate ,High level of interest rate is thought to be a tight, low interest rate level of convergence are considered monetary relaxation. (2) real rate belongs to the Central Bank , the Central Bank can use this tools to increase or decrease in interest rates. Table 1: denotation for Variables denotation Variables Implication Lnindex Shanghai securities composite index Shanghai securities trading market overall trend Lnhsp House price Real estate price Lnloan Loan financial institution aggregation loan domestic Lnm2 M2 boarder money supply: M2+M1 Rate Real rate nominate rate minus CPI. 4. Economic Theory and Econometric Model The effectiveness of monetary policy depends not only on the sensitivity of economic subjects on policy signal , but also on numerous external factors of financial system. According to the traditional Keynesian theory, when implementing expansionary monetary policy, increase of money supply will lead to rate decline, i.e. capital costs decreasing, further increasing investment expenditure, hence increasing aggregate demand and aggregate output. Meanwhile, increase of money supply will lead to the bank reserve and deposit increase, thus enhanced bank to increase the loan quantity, the fund that the borrower attains increase, then the total quantity investment will increase, which also lead to the quantity of aggregate demand increase, hence, the total output also rise. We will use following econometric model to analyze the relationship of asset price and monetary policy. 4.1. Analyzing correlation coefficient The correlation coefficient is a measure of two variables relate to each other and their close degree of effective tools. Its absolute value is close to 1 description of relevance, the stronger between variables, the more its relevance with 0. If the correlation coefficient is positive, then the variables presented to changes in the relationship, with one variable with another variable changes. But if the correlation coefficient is negative, then the variables are changes in the relationship in the opposite direction. Using correlation coefficient can be better measured variables and between monetary policy and asset price correlation between Extent its positive and negative symbol can indicate the variable ask changes direction. Generally used to be associated matrix said. 4.2. Testing for Nonstationary In time series, stationary is a key concept, as it allows powerful techniques for modelling and forecasting to be developed. Stationary is generally regarded as some pattern of data stable or equilibrium. Stationary time series have constant mean and variance, but its covariance only determined by the time distance. However, when time series could not analyze as stationary, this types of time series always have a strong upwards or downward trend over time, we call it as nonstationary, and we can use differencing as an effective tool to transform a nonstationary time series into a stationary time series. Sometimes, Transforming a nonstationary time series into a stationary one needs more than once differencing operation. Generally speaking, if the differencing needs to be operated at least d times to achieve a stationary time series where d is the order of integration, then the time series is said to be integrated of order d, denoted by I(d). Hence, the I(1) time series also referred to have a unit root, while the I(0) time series are stationary. Dickey and Fuller (1979) provided an effective method to test a time series is stationary or nonstationy time series, which is also called as Dickey-Fuller (DF) test. The elementary object is to test the null hypothesis that the time series have a unit root or not. The model the Dickey-Fuller (DF) test involves bellows In this dissertation , indicates the variables on monetary policy and asset price at time t. ÃŽ ± denotes unknown parameter and denotes the trend. denotes the first difference which . Also, the t-statistic for testing the null hypothesis that H0: =0 against the alternative hypothesis H1: While the index and real rate variable we consider under the model H0: against H1: We also can identify the fittest lag k by running the ADF(k) test, choosing the fitted order k that gives the minimum AIC and BIC. 4.3 Cointegration Formally, Engle and Granger (1987) defined the cointegration as if there exists a linear combination of two or more I(d) time series which is I(d) with d In practice, we usually use cointegration test to exam the long-run relationship among variables in economics. If times series have relationship between variables, and the trend of the two time series has been common, and thus there will be a linear combination of these time series give us an stationary time series. In this dissertation , we test the long-run relationship between monetary policy variable and asset price variable by cointegration test .First, we consider the regression of two I (1) time series. The model is To test { } and { } are cointegrated, we need to exam that the residuals term { } is stationary .If the residuals term is I (1), then this two times series do not have a cointegration, otherwise , if the residuals term is I (o), then this two times series are cointegrated. Under this case, to test the residuals for unit root ,we can conduct DF/ADF-statistic test. In this paper, we denote that monetary policy variables as and we regress on a constant and one of the asset price variables as . 4.4. Causality Test Granger (1969) provided that Granger causality test can apply generally for testing the causal relationship on two time series.Granger causality means that if { } Granger causes{ } then { } have a predict power of { } , given any other variables. More formally, it is said that { } Granger causes { }; when the forecast of given data on { } and { } outperforms the forecast of given data on { }only. Granger causality is only related to the predictability of { } using { } and is not concerned as to whether{ }causes { }, it could be that { } Granger causes { } but { } is not causal for { },and vice versa. To test for Granger causality, we could estimate the regression by OLS In this dissertation , denotes an indicator of asset price, i.e. Shanghai composite index (lnindex) , house price ( lnhsp) , Also,denotes the indicator of monetary policy, i.e. financial institutions aggregate loan (lnloan), broad money (lnm2), real interest rate (rate) . Then conduct an F test on the null hypothesis against the alternative at least one of the is not zero. If we reject the null hypothesis, then { } has predictive power for { } and therefore, { } Granger causes { }, on the other hand, if we fail to reject the null hypothesis, then { } has no predictive power for { }, therefore, { } does not Granger causes { }.We usually test the two times series for Granger causality in pairs, that is, first test whether { } Granger causes { } and then test whether { } Granger causes { }.If two variables have Grange causality relationship in both directions, i.e. { } Granger causes { } and { } Granger causes { }, then we could regard these two varibles have causality relationship in both directions, that means these two variables are related. If two variables have Granger causality in one direction, e.g. { } Granger causes { } but { } does not Granger cause { }, then we can conclude that these two variable just have a one way causality relationship. 5. Presentation and Interpretation of Results 5.1. correlation coefficient between monetary policy variables and asset prices variables We analysis the correlation between monetary policy variables and stock prices variable according to the data provided by China Economic Information Network, and the correlation coefficients are presented in Table 2 and Table 3. Table 2 Correlation coefficient between lnindex and lnloan,lnm2,rate in 1998-2008 Lnindex Lnloan Lnm2 Rate Lnindex 1.000000 Lnloan 0.4829 1.000000 Lnm2 0.4867 0.9980 1.000000 Rate -0.4717 -0.9013 -0.9067 1.000000 As we can see, stock price (Lnindex) has correlation relationship with all monetary policy variables. With a higher stock price, loan and money supply will be increased, while real rate will be decreased. For monetary variables, loan and M2 have a strong positive correlation, and M2 have a strong negative correlaton with real rate. In conclusion , for the stock price variable, it has basically the positive correlation with the loan and money supply variables , and has negatively correlation with the real rate. Table 3 Correlation coefficient between lnhsp and lnloan,lnm2,rate in 1998-2008 Lnhsp Lnloan Lnm2 Rate Lnhsp 1.000000 Lnloan 0.9667 1.000000 Lnm2 0.9633 0.9980 1.000000 Rate -0.8453 -0.9013 -0.9067 1.000000 From table 3, we can see house price (Lnhsp) has correlation relationship with all monetary policy variables. With a higher house price, loan and money supply will be increased, while real rate still will be decreased. In conclusion ,for the house price variable, it has basically the strong positive correlation with the loan and money supply variables , and has strong negatively correlation with the real rate. 5.2.Results for unit root test We exam monetary policy variables and asset prices variables by Augmented Dickey-Fuller (ADF) to test the stationary of time series. First ,we choose the AIC and BIC to determine the fitted lag it suggest that the optimal lag for time series is lag k =1,Then we run ADF to test stationary of time series. Results are below: Table 4 ¼Ã… ¡Augmented Dickey-Fuller Unit Root Test for Variables Series ADF Test critical values Results 5% 1% Lnhsp -1.685 -3.41 -3.96 have a unit root Lnindex -2.085 -2.86 -3.43 have a unit root Lnm2

Define Feminism Essay -- Feminism Feminist Women Criticism

Define Feminism "A woman should be barefoot, pregnant and chained to a stove," stated Ben Glantz, a high school senior. Drew Pershing, another senior, also shared a joke, "What does a woman do after she leaves a battered shelter? The dishes...if she knows what's good for her!" Daily jokes and comments such as these, no matter how harmless, are detrimental to the status of women and a dangerous undermining of their accomplishments. Shared by both genders, sexually discriminative comments are widely accepted in society as normal and harmless. "I didn't mean anything by that; I was just kidding," whimpered Ben Glantz after receiving several cold stares from young women who overheard his bashing, sexist comment. Women have become more aware of their current respected, "take serious" status within the past twenty years. Some are satisfied with where women stand in relation to society, while others say the road to equality has not yet been finished. When people were asked to fill out a questionnaire on feminism, young women were eager to participate while most of the young men took a little coaxing. Ignorance in both sexes contributes to the problem of misinterpretation of feminism and the "woman's place" in society. When twenty-four students, parents and teachers were asked what feminism was, answers ranged form a fight, a stand, a belief, a want, a definition, and a movement for women empowerment, equality and human rights. The definition of feminism found in The American Heritage Dictionary states feminism is "a doctrine that advocates or demands for women the same rights granted men, as in political and economic status." "Since this definition will vary from being militantly pro-female to simple ... ...isters. TV Guide, 45, 18-23. McDonnell, Evelyn. (1993, August 7). Women rockers create their own alternatives. Billboard. 105, 1-2. Palmer, Laura. (1997, November 27). Lee vows to fight for her vindication. The Gazette, pp. E1, E3. Pollitt, Katha. (1997, November). Feminism's unfinished business. The Atlantic Monthly, 160-164. Thigpen, D.E., & McLaughlin, L. (1997, July 21). Galapalooza!: Lilith Fair -- a traveling festival featuring female folk-pop stars -- is rocking the music world. TIME, 60- 64. Tumulty, Karen (1997, October 20). Turning fifty. TIME, 32-42. Wells, Diana (Ed.). (1994) Getting there: The movement toward gender equality. New York: Carroll & Graf Publishers/Richard Gallen. Wolf, Naomi. (1993). Fire with fire: The new female power and how it will change the 21st century. Canada: Random House Publishing, Inc.

Non-violent social change

Chavez, King Jr. and Malcolm X all advocated non-violent struggles for justice and equality. They were all successful in their policy goals. Through the tactics and strategies that they employed, they were able to achieve their goals. Through their leadership, the marches, boycotts, rallies, fasts and strikes led to their objectives. Non-violent struggles proved to be more effective in making people aware and bringing out desired changes.Their experiences also led them to be the leaders of their organizations. Chavez has seen a lot of inequality towards Mexican-Americans especially the farm workers. King Jr., on the other hand, has also experienced inequality and injustice even when he was young. And when he became the leader of the Southern Christian Leadership Conference (SCLC), he saw a lot of racial discrimination and inequality in rights against the blacks. Malcolm X, too, has experienced being harassed when he was young. In fact, his life before being a Muslim could be said as sorrowful. His father was killed, his mother was taken to a mental institution and he and his siblings were split up to different homes.Discrimination seemed to be the factor which drove these leaders to seek change. Chavez has encountered it when he was in elementary schools. King Jr. has seen discrimination against the blacks. Malcolm X has probably experienced discrimination as he talked about black pride. Due to this, they have become resolved in bringing social change and civil rights.I believe that their advocacy of non-violent social change played a big role in their success as leaders. As to Chavez and King, their mothers taught them that there should be no place for violence or any discrimination in one’s heart.These three leaders were long dead, but their legacy still lives. Malcolm X had influenced both the blacks and the whites. The blacks has regarded him as a man of the people and experienced in the ways of the street. The whites, on the other hand, were influen ced by his unwillingness to turn away from hostility. Chavez’s legacy, on the other hand, is his philosophy of service for others, justice, equality and civil rights. And King Jr. has brought the Voting Rights Act and the Civil Rights Act.WORKS CITEDMcElrath, Jessica. Malcolm X. Online. Available: http://afroamhistory.about.com/cs/malcolmx/a/bio_x_malcolm.htm. 30 September 2007.Siqueiros, Ray. â€Å"Who was Cesar Chavez?† People’s Weekly World. 19 Apr 2003: 11 pars. Online. Available: http://www.pww.org/article/articleview/3309/1/

Internal and External factors at Wal-Mart Essay

In 1962, Sam Walton opened the first Wal-Mart store and the retailing giant has been rising to success ever since. Various factors have played an integral role in the success of Wal-Mart, but without the strong execution of the four functions of management, Wal-Mart would have failed like many others. This paper will discuss in detail the how internal and external factors affect the four functions of management. GlobalizationIn 1993 Wal-Mart formed their International Division which was crucial to their success because they needed to remain competitive with other industry giants. When Wal-Mart entered a new country, careful planning was conducted to meet the demands of that specific country. A recent special on the history of Wal-Mart showed their expansion into China. Wal-Mart’s president did not realize that most families in China do not own a washer and dryer. Therefore, Wal-Mart removed all their detergents designed for machine washing and replaced them with detergent especially for hand washing. Wal-Mart brings thousands of people into their stores worldwide who are looking to begin a new career, as well as, shop. Without the organization of each department within Wal-Mart’s facilities, harmony within the company would crumble. Employees from every department work together to achieve the goals set for each store. Wal-Mart’s goal is to be the largest retailing organization in the world, and has achieved such status by adhering to strict organizing standards. Wal-Mart believes that in order to be a good leader, you must inspire trust and be rewarding. A statement Sam Walton once said is the motto Wal-Mart employees live by: â€Å"It’s more important than ever that we develop leaders who are servants, who listen to their partners – their associates – in a way that creates wonderful moral† (walmartstores.com, n.d.). This way of thinking has been passed down to all employees and has proven to create a productive work environment. Wal-Mart continuously finds ways to guarantee their over-all success by controlling and monitoring the plans they set out. Ideas that work in one  market, may not work in others. In order to find what works best for each market, new ideas are implemented and tracked for success. Ideas that prove to be successful can then be tried in other markets. In order for Wal-Mart to continue to grow, dynamic ideas are required of management frequently. TechnologyTechnology played a big part in the globalization of Wal-Mart. By 1975, Wal-Mart had over 125 stores and $340.3 million in sales. At this time they leased the IBM 370/135 computer system. This system allowed them to maintain inventory control for all merchandise in the warehouse and distribution centers, including prepare income statements for each store. From 1975 to 2004, Wal-Mart experienced a number of changes relating to technology which included in 1983, the company began using the bar coding system which identifies to the system what item the customer is purchasing and its cost. In 1987, they completed the largest satellite communication system that linked the company as whole with two-way voice, data and one-way video communication. (2006)As the company continued to experience phenomenal growth they had to look at newer forms of technology to keep up with the development of so many stores. In 2004, the company announced that it would deploy the radio frequency identification (RFID) technology on January 1, 2005 (2006). This technology allowed their central management system to track new shipments, product purchases, and alerted them when items need to be re-stocked via a wireless communication (Plunkett, 2008). Wal-Mart uses technology to enhance all areas of its business. A one-hour online photo center, for example, allows customers to download photos and pick up the photos at the store of their choice within an hour. In the past, the customer would download the photos and wait for them to be mailed. On the music side, a pilot program involving in-store kiosk at 100 stores lets shoppers buy one song off a CD without purchasing the whole CD. The kiosks let shoppers create custom CDs that can hold up to 100 songs. The finished CD is then picked up at the one-hour photo center. In pharmacy, new technology allows personnel to retrieve a patient’s prescription information at any location simply by knowing the patient’s name and type of medication. The patient does not have to know his or her prescription number, insurance information or at what store the prescription was originally filled  (Wal-Mart Technologies Enhance Visible and Behind-Scenes Services, July 2005). InnovationWal-Mart’s continued drive towards innovation sustains its global footprint. Wal-Mart continues to be a leader in the business world. It’s evident that Wal-Mart strives continually to introduce new and different ways to market their business and uphold competitive advantage and introduce new ways to build relationships with employees, customers, and the humanitarian world. Wal-Mart’s resourcefulness is widely shown in their in-bound logistics. Wal-Mart’s satellite network is the largest private satellite communication system in the United States, this along with its strategic locations for their distribution centers have given them another competitive edge. Unlike other competitors who house less than half of their inventory in distribution centers, Wal-Mart houses over 80 percent in their distribution center; this purpose being more sales space for the stores and 100 percent in-stock position. To cut costs Wal-Mart places distribution centers in locations that allow for no more than a day’s drive between stores. In addition, Wal-Mart’s satellite communication system enables all stores to share information with the distribution center and between the distribution center and its vendors. This communication method allows for an accurate assessment of inventory needs and cuts down inventory overstock. Wal-Mart is now aiming their innovative techniques towards the up-in-coming green trend. The company has created experimental stores that save energy, conserve natural resources, and reduce pollution. Just one example of Wal-Mart’s focus to conserve natural resources and reduce pollution is their efforts to only sell concentrated detergents. This effort is estimated to have an impact that will save more than 400 million gallons of water, more than 95 million pounds of plastic resin, and more than 125 million pounds of cardboard (Walmart.com, 2008). These are just some examples of Wal-Mart’s innovative spirit. Wal-Mart’s clear innovative drive continues to move the company into new and exciting ventures. Diversity Now the internal and external factors that impact the four functions of management (planning, organizing, leading, and controlling) at Wal-Mart come from all parts of the company such as: the board of directors, associates, suppliers, and customers. For example, the Wal-Mart web site states that their â€Å"†¦commitment to Diversity and Inclusion helps†¦Ã¢â‚¬  them â€Å"†¦build and retain a diverse workforce and supplier base† and that commitment is extended â€Å"†¦into the communities where†¦Ã¢â‚¬  they â€Å"†¦work and live through various community outreach programs† (walmartstores.com, n.d.). In addition Bateman & Snell (2007) express that â€Å"†¦you should devote adequate attention and resources to all four functions† of management (p. 18). The Wal-Mart web site indicates that the company values diversity and have made it part of their business plan which is part of their success. Now with that in mind, Wal-Mart has recently been recognized as one of the â€Å"Best Companies for Asian Pacific Islanders† by the Asian Enterprise magazine, which offers a good indication that Wal-Mart has devoted adequate attention and resources to the use of all four functions of management. Now a note from the successful retail giants:As the world’s largest retailer, we value diversity and foster a working environment that enriches the personal and professional experiences of our associates, promotes excellence, and cultivates the intellectual and personal growth of the entire associate population. We make diversity part of our business plan, ensuring we can continue to be a global leader in all aspects of Diversity and Inclusion. (walmartstores.com, n.d.)EthicThe American federation of labor-congress of Industrial suggest that Wal-mart was intended to be sex discriminative to poverty-level wages with the term Wal-mart on their problem to drive some business away and they was hopeful that it was going to be enough to alter the companies policies. This is supported by the center for community and corporate ethics. Wal-mart was tired of this allegation, so they launched a blitz ad in about 100 newspapers, to let everyone know that â€Å"Wal-mart is working for everyone.† â€Å"Spokesperson Sarah Clark denies that the company’s low prices depend on low wages.† Bernstein (2005). The labor leaders believe  that the AFL-CIO wants Wal-mart to look bad with a new publicity campaign. The Wal-mart labor’s plans have stayed the same because of all the negative publicity and it has hurt the employees’ morale of the Wal-mart Inc. Chris Ohlinger, â€Å"CEO of Service Industry Research Systems Inc,† Chris Ohlinger taking a survey on the customers that use to shopper there and do not stop any more because of the public criticism. Wal-mart low prices remain low to help the working poor. â€Å"Wal-mart CEO H. Lee Scoot, asked the employees â€Å"to take the moral high ground† on the further criticism. Wal-mart had just settled with about $11 million on hiring illegal immigrants to clean the stores. This is one the biggest sex discrimination lawsuit in the history of retailer just because the grass-roots organizations do not want this retailer in the area. â€Å"In a five-minute video message to Wal-mart’s workers, Scott told employees that they were expected to do the right thing every time, and he encouraged them to report unethical behavior to superiors or use the company’s ethics hotline, according to spokeswoman Mona Williams.† â€Å"It is a mark of our strength that when we uncover issues, we deal with them, do the right thing and are a stronger company as a result, â€Å"Scott said in the telecast to 1.2 million workers.† Grant (2005)In conclusion people should not always believe what is told to them in the public room, people have to evaluate for themselves and stick to their ethic believes. Reference: Wal-Mart (n.d.). Servant Leadership. Retrieved June 21, 2008., fromhttp://walmartstroes.com/AboutUs/289.aspx(2006). 45 Years of Wal-Mart History: A Technology Time Line. Academy of Information & Management Sciences. Plunkett, J. W. (Last updated February 21, 2008). Retail Technologies Leap Ahead. [Electronic version]. Retail Industry. Retrieved June 21, 2008 from http://www.plunkettresearchonline.com. Wal-Mart Technologies Enhance Visible and Behind-Scenes Services. (2005, July). Retail Merchandiser, Retrieved June 21, 2008, from Business Source Complete database. Govindarajan, V. & Gupta, A. (1999). Taking Wal-Mart Global: Lessons From Retailing’s Giants, Retrieved June 21, 2008, from http://www.strategy-business.com/press/16635507/13866Walmart Completes Goal To Sell Only Concentrated Liquid Laundry Detergent, Retrieved June 21, 2008, from http://walmartstores.com/AboutUs/7603.aspxBateman, T.S., & Snell, S.A. (2007). Management: The New Competitive Landscape. [University of Phoenix Custom Edition e-text]. New York: McGraw-Hill/Irwin. Retrieved June 10, 2008, from University of Phoenix, MGT330 Web site. Diversity. (n.d.). Retrieved June 20, 2008, from http://walmartstores.com/Diversity/

Business Writing Training Guidelines for Performance Appraisals

Business Writing Training Guidelines for Performance Appraisals Performance appraisals play an important role in motivating your employees and in encouragingthem to work to the best of their abilities. Appraisals provide an opportunity to shine for many, and anopportunityto reflect for others. Business writing training guidelines assist the difficult task for bothbusiness owners and managers to evaluate employee performance against quantifiable Key Performance Indicators (KPIs). Business writing training guidelines will also help individuals better document their achievements during their annual performance review. Writing a performance appraisal report is often cumbersome. Many companies use pre-written templates to prepare such appraisals, and this regimented approach is not always effective. Business writing trainingprovidesmanagers the business writing skillsto effectivelyprovide employees more data regarding their performance. Similarly, the directorship in many businesses requires in-depth employee performance analysis before they make any decision regarding payroll and promotion. hbspt.cta._relativeUrls=true;hbspt.cta.load(41482, '68b80d4a-2e12-4e12-a6e9-b258b38b08c3', {}); Despite its apparent complexities, writing performance appraisals is a fairly easy task. Here’s a look at fourbusiness writing training guidelines to help bothmanagers and individual employees write relevant and accurate performance appraisal reports. Keep the Audience in Mind Appraisal reports are written for the senior management in your organization. Put yourself in your manager’s position and consider: What does your boss want in this appraisal report? What good will this information do forhim or her? How will the report help in assessing the employee’s performance? The first step towards drafting an effective performance appraisal report is to keep your target audience in mind. There’s a famous business clichà © that says, â€Å"what counts is what'scounted†. This should be your focus. Analyze all indices and factors that seem relevant for the employee appraisal. Be Neutral Once you know who your target audience is, the next step is to maintain a certain level of neutrality in the performance appraisal. It is very easy to sway off course when preparing or filling out the appraisal report. As an employee, you need to address all the core areas of interest to your boss on a timely basis. Do this before they introduce any ancillary content to the performance appraisal report. As a manager, you need to share with your employees all the information and performance metrics against which employee productivity will be measured. Keep Track of All Achievements As a manager, you need to create an electronic record for your employees' achievementsthroughout the year. The same rule applies to employees as well. Scan your email for any recommendations or stand-out recognition you have received. Such exercises are are helpful, but consistent tracking is better. The best approach is to create a tracking documentthat lists all your achievements as they occur. These achievements should be in line with the performance indices used in your appraisal report. Whenever you receiveany recognitionemail or acknowledgement for your hard work, add it to your tracking document. This will provide accuracy and reliability to your performance appraisal report and help you assemble accurate facts. Mind Your Language Performance appraisal reports are very specific in nature. They determineincrements to your salary, bonuses, perks or even a better position. Therefore, it is important that you use the right tone, with accurate sentences and specific verbs to describe your performance. Use evocative words that specificallysummarize your achievements. Instead of relying on long and unending sentences, use short and precise words and phrases. Avoid businessclichà ©s that don't really mean anything specific, such as "passionate marketer" or "committed team member." Instead, be specific about your actual accomplishments. To learn more on how to improve business writing for your employees, downloadâ€Å"Four Steps to Improve Your Team’s Business Writing Skills.†

Free Essays on Constitutional Law

Constitutional Law Bill of Rights in the constitutional law of American history is the term that usually signifies the first 10 amendments to the Constitution of the United States. These amendments, more precisely the first eight of them, specify certain basic freedoms and procedural safeguards of which the individual may not be deprived by governmental power. Taken together, these specified freedoms and protections are the core of American civil liberty and provide the constitutional basis for judicial protection of the rights of the individual. Of particular importance are the provisions of the 1st Amendment (freedoms of religion, speech, press, assembly, and petition); the 4th Amendment (prohibition of unreasonable searches and seizures); the 5th Amendment (prohibitions against double jeopardy and self-incrimination; no taking of life, liberty, or property without due process of law; requirement of fair compensation when private property is taken for public use); the 6th Amendment (procedural safegu ards in criminal prosecutions); and the 8th Amendment (prohibitions against excessive bail and cruel and unusual punishments)( Gerald Gunther ,1976). According to three strikes law If a person commits any felony after March 7, 1994 and If the person has one previous "violent" or "serious" felony conviction (which includes burglary of an unoccupied dwelling), he or she is sentenced to twice the term prescribed by law for each new felony (and must serve at least 80% of the sentence). If the person has two previous violent or serious felony convictions, he or she is sentenced to a life sentence with the possibility of parole. The minimum term of the life sentence is calculated as the greater of the following: a. Three times the term otherwise provided b. 25 years c. The term determined by the court pursuant to other applicable sentencing provisions of existing law. The definitions for â€Å"violent† and â€Å"serious† felonies differ ... Free Essays on Constitutional Law Free Essays on Constitutional Law Constitutional Law Bill of Rights in the constitutional law of American history is the term that usually signifies the first 10 amendments to the Constitution of the United States. These amendments, more precisely the first eight of them, specify certain basic freedoms and procedural safeguards of which the individual may not be deprived by governmental power. Taken together, these specified freedoms and protections are the core of American civil liberty and provide the constitutional basis for judicial protection of the rights of the individual. Of particular importance are the provisions of the 1st Amendment (freedoms of religion, speech, press, assembly, and petition); the 4th Amendment (prohibition of unreasonable searches and seizures); the 5th Amendment (prohibitions against double jeopardy and self-incrimination; no taking of life, liberty, or property without due process of law; requirement of fair compensation when private property is taken for public use); the 6th Amendment (procedural safegu ards in criminal prosecutions); and the 8th Amendment (prohibitions against excessive bail and cruel and unusual punishments)( Gerald Gunther ,1976). According to three strikes law If a person commits any felony after March 7, 1994 and If the person has one previous "violent" or "serious" felony conviction (which includes burglary of an unoccupied dwelling), he or she is sentenced to twice the term prescribed by law for each new felony (and must serve at least 80% of the sentence). If the person has two previous violent or serious felony convictions, he or she is sentenced to a life sentence with the possibility of parole. The minimum term of the life sentence is calculated as the greater of the following: a. Three times the term otherwise provided b. 25 years c. The term determined by the court pursuant to other applicable sentencing provisions of existing law. The definitions for â€Å"violent† and â€Å"serious† felonies differ ...

Business Law for Dick Smith

The Sydney Morning Herald, March 20, 2017 The Directors and the Executives of Dick Smith have been accused of mitting a breach of their directorial duty to exercise reasonable care after the pany has suffered financial collapse in January 2016. The former directors of the Dick Smith had to face legal action 14 months after the electronics chain was put into administration. Receiver brought a legal action against the directors and executives to recover losses worth $60 million as the directors failed to exercise reasonable standard of care and skill managing the pany’s inventory. The pany was alleged that its inventory purchasing decisions are based on maximizing rebates instead of demand of the customers which led to an increase in the redundant stock amounting to $180 million by October 2015. The excessive stock led the pany write off $60 million of inventory in November 2015. The directors were accused of inflating profits artificially in the 2015 financial year, as they were recoding rebates as profit. Although the directors denied that they made the purchasing decisions based on rebates, the chief financial officer of the pany admitted in court that the pany did adopt a strategy to enhance the earnings from rebates. The law firm defending the directors contended that the directors have always acted diligently, consciously and exercised reasonable care while carrying out the business operation of the pany. The issue that arises in the Dick Smiths case is that the directors have failed to exercise their statutory duty to exercise due care and diligence while carrying out the business operations of the pany. According to Section 180 (1) of the Corporations Act (Cth) a director was required to act with reasonable care and diligence. Under general law, whether a director had mitted a breach of his directorial duties is subject to the subjective assessment and depends largely on the director’s own knowledge and skill (Velasco 2014). However, in Re City Equitable [1925] the rule, the court held that in order to determine whether a director has violated his directorial duties, the objective test shall be applied where the director must establish that he has exercised reasonable care and diligence and had not mitted a breach of his duties. In Dick Smith’s case, the directors and the executives were alleged to have failed to place adequate systems to manage the supplier rebates and inventory of the pany. In ASIC v Healey [2011], the court held that the directors of the pany are under statutory obligation to be able to read and prehend the financial statements of the pany instead of simply relying on the fact that the systems are in place. Further, in Daniels v Anderson [1995], the Court of Appeal held that directors must prehend the nature of the duty that they are statutorily obligated to perform. Section 180 (1) of the Act further requires to impose an objective ‘reasonable person’ test in order to determine whether the director has exhibited hid duty of care and diligence in the manner as any reasonable person would exhibit under similar circumstances. ASIC v Healey & Ors [2011] FCA 717 JWS Daniels v Anderson [1995] 37 nswlr 438 Re City Equitable Fire Insurance Co [1925] Ch 407 Velasco, J., 2014. A Defense of the Corporate Law Duty of Care.

Advertisement Analysis Essay Example | Topics and Well Written Essays - 1250 words

Advertisement Analysis - Essay Example In short, consumer culture has largely influenced the way of living today. In the light of these, the following study text seeks to support the impact of consumer culture on society by analysing an advertisement based on the relationships between the aesthetic strategy and ideological message applied in creating it. In analysing an advert, two major aspects come into play; the aesthetic and ideological portrayals. The aesthetic aspect represents the overall visual sensation which is portrayed by the advertisement’s overall appearance. In short, it is the visual appeal, and plays an overly important role in marketing. The ideological message represents an advanced meaning of the advert and is a simulated â€Å"feeling† which is transferred from the advert to the consumer upon buying (possession) of the product being marketed. These two are closely related. In an advertisement, there are three main constituting understandings; the overall (surface) meaning, the advertiser’s intended meaning, and the ideological (cultural) meaning. The relationship between the three is that the aesthetic sensation adds up to the surface meaning while the ideological message represents the advertiser’s intention. These two combined, they create the cultural meaning of the advert thus its interpretation and execution of the intended purpose (Botterill, MacRury & Richards 2013, p. 81). Figure 1 above is a Vive Cuervo Advertisement. Vive Cuervo is an alcoholic drink. The aesthetic strategy is evidenced by the inclusion of different elements which create a composition. The composition is made up of both images and text. There is the image of a happy couple in beachwear wherein man is carrying his lady at chest level. They are in embrace as he holds her around her buttock area and her legs embrace his abdomen. The lady’s hands are clutching the man’s neck tightly and they are both laughing out loud.

Compare Film Composition and Its Function and Meaning in the Work of Essay

Compare Film Composition and Its Function and Meaning in the Work of Akira Kurosawa and Kenji Mizoguchi - Essay Example To begin with, there will be a discussion of film composition and it varied elements. This section will focus on the various aspects of film composition that help portray a realistic and in some cases, larger than life picture of things so as to put across a certain message. From here, the paper will delve into a discussion of the lives and works of the two filmmakers in question so as to demonstrate the use of film composition techniques as used by them. In this regard, two films have been studied by each of the filmmakers. The films of Akira Kurosawa include Seven Samurais and Ikiru. The two films of Kenji Mizoguchi include Tales of Ugetsu and Sansho the Bailiff. From here, there will be a focus on the comparison of film composition styles of these two filmmakers. In this section, the basic focus will be on the portrayal of the quality of the use of these elements in the portrayal of various situations and scenarios through their films. The parallels drawn in this section will be reflected in the conclusion through a brief summation of the commonalities and diverse styles of film composition. Films are a medium and an art form rolled into one. They have the capacity to transport viewers and put across messages that can transform the lives of entire audiences. The power of cinema is one that has been hailed as the hardest hitting of art forms, even from the days of silent movies. The term or phrase, 'Motion Pictures' is literally the most accurate definition of the most powerful element of cinema. Moving pictures are the most powerful form of expression in art. This art form called cinema relies on the use of pictures that move in order to hold the interest of entire audiences. Yet, the sole activity of recreating moving pictures to depict scenarios and messages, is not enough. To match the voice of one's heart and sensibilities, moving pictures need to be rendered in various ways, and with the exact play of various elements. These elements include lighting, sound, and above all aesthetics. While most believe that aesthetics mainly cater to the play of light and sound in the film, this is not entirely true. Aesthetics revolve around the play of dialogue that can be rendered in perfect light, shadow, setting as well as a background score where necessary. In order to help audiences as well as every individual in the audience to literally 'get the picture', there is a need to deviate from the ordinary in an endeavour to portray that ordinary aspect of people's lives in a manner that can be dramatic, humorous and many other things depending on the vision of the filmmaker. Vision is a key word in the arena of film composition. The technicalities of film making aside, the vision of the filmmaker and the story that he or she wants to tell is the single most important factor in the portrayal of facts as well as fiction. The vision of the filmmaker is one that springs from the following factors: Personal Life Experiences Hard Hitting influence of a particular story The basic social, personal and professional sphere within which the filmmaker defines his or her capacities and influences. The genre of films and art forms that affect the filmmaker to the highest degree. The experience of the

Virtual Culture Essay Example | Topics and Well Written Essays - 750 words

Virtual Culture - Essay Example Our intertwined lives have made these Disney figures as much a part of our family as our own parents or siblings. Information technology has made our lives easier and more complex at the same time. Working professionals are on a 24/7 duty thanks to e-media (mobile and email). This has created the parental responsibility of parents even harder. In these difficult times, the virtual culture can serve a part of the parent's role by portraying the good and evil to the children and instilling the core cultural values in the children's minds. [4] The virtual culture created by the information age is apparent in our lives as well and especially for children. Since most of the virtual figures are projected towards children, it is they who get inspired and affected the most. Every child searches for the Harry Potter in his/her own life and become a part of that magical world. So it is now up to the creationists of the virtual cultures how to influence the children in shaping up their lives. As children gain easier access to information, the role of virtual culture will become ever so important in creating better leaders for tomorrow. [4] Each and everything in our lives can be segmented into either good or bad. Each thought will have two perspectives i.e. either it will be accepted or it will be rejected. Same is the case with newly establishing virtual culture. Conservatives may argument that each society has strong roots in its heritage and history that makes up the culture and traditions. For these conservatives, adopting the new way will be difficult and may even be dismissed as a totally not acceptable change. For these fundamentalists, cultural traditions will definitely be eroded from adopting the virtual culture. The values created by their ancestors that have built the culture will change and it will be considered as a bad change. [1] On the other hand, sociologists may argue that culture is an ever changing entity. Newer values and beliefs are entrenched each day in our lives which gradually changes that cultural tradition. For these theorists, change is a positive force and these changes enhance the cultural traditions. Change fosters progression and since the information revolution is already bringing the virtual culture to our boundaries, it only seems sensible to embrace the change with arms wide open. In these changing times, with children coming into contact with information more rapidly than most adults, the virtual culture can create the same values that twenty years ago our parents used to teach us. From this point of view, the application of virtual culture looks good. [1] What image of this country do US movies and television shows give to people abroad Hollywood is considered as the heart of the movie industry in the world. Movie standards are set according to American movies as they are considered as the benchmark for quality. Similarly American television and soaps are amongst the most watched in the whole world. So are these movies and TV shows watched because they portray the reality The answer to this question is 'No'. As with most products in the world, movies and TV programs only show things what the viewers want to see. This viewer oriented

Lucas Cranachs Virgin and Child Painting Essay Example | Topics and Well Written Essays - 750 words

Lucas Cranachs Virgin and Child Painting - Essay Example The painting The Virgin and Child is one of his enduring masterpieces because it â€Å"demonstrates the hallmarks of the Northern European style† (Gift of the Samuel H. Kress Foundation). The Virgin and Child is marked for its â€Å"meticulous craftsmanship of colors and the precise execution of details which are signs of perfection common to Cranach’s workshop† (Gift of the Samuel H. Kress Foundation) , the austere image of the Virgin characterized by her asymmetrical humble eyes typified it as a product of his studio where he substitute the workshop’s paintings for his own, thus making the quality uneven. Just like most painters, Cranach’s paintings also evolved and his paintings for Frederick the Wise was the product of various experiments until he adopted his formal painting style when he was appointed as court painter to the Electors of Saxony at Wittenberg. His style which characterized the Virgin and the Child was Cranach’s attempt to also adapt to suit the demands of the Saxon Court (Bruce a). Technically, the painting The Virgin and Child are one of the many paintings of Cranach about the Madonna and Child. And just like the other paintings about the Madonna and Child, it is marked by the careful selection of colors where the figure â€Å"popped out† from its background due to the contrast of colors and chiaroscuro where the background appeared to be â€Å"lighter† than the foreground. In addition to contrasting light and dark colors, the combination of marked cold and warm colors in the figure emphasized a strong â€Å"character† on the figure where the red became prominently noticeable because it was a â€Å"warm color† contrasted with a â€Å"cold color† blue. The red, which also has the symbolism of the Passion’s, was emphasized for religiosity and aesthetic value as it became distinct when it was juxtaposed by the cerulean blue and deep green color of the Virgin’s garment.  

Normal and Pathological mourning Essay Example | Topics and Well Written Essays - 8500 words

Normal and Pathological mourning - Essay Example The object thus is to evaluate the understanding of a model of mourning and object loss in the light of academic perspectives and to define a demarcation between normal and pathological mourning. Finally in the light of case studies and examples drawn from academic literature the Paper culminates with an attempt to formulate a diagnostic approach to facilitate better handling of mourning and grief which may turn depressive There are many ways in which we view the world and ourselves. We can go inward or go outward, forward or backward. Precisely defining the psychological processes which takes place in experiences and express it into certain behavior pattern has always been contentious and has occupied the minds of thinkers through out the ages, that is since the time people probably developed the faculty of introspection and analysis1. The obvious importance of knowing self, knowing the most innermost processes which goes on as we tackle everyday life lies in several assumptions about ourselves which without having a frame into which we can view ourselves will lead to a sort of a vicious intellectual cycle and places us in a paradoxical situation due to uncertainties, when unknowns overtake our attempt at articulation. And here lies the importance of the field of study opened by Freud and the array of thinkers and researchers which followed this path of probing for the very nature of our being including the innermost recesses of the mind, the unconscious. It is essential to abandon the overvaluation of the property of being conscious before it becomes possible to form any correct view of the origin of what is mental. In Lipps's words, the unconscious must be assumed to be the general basis of psychical life. The unconscious is the larger sphere, which includes within it the smaller sphere of the conscious. (Freud) To Freud, the influence of the unconscious is such that it shapes personality and behavior and understanding how the unconscious world has enormous significance as knowing the reality of the external world. This suggests that the internal psychical process which may be unarticulated is intimately related to processes which gather and process such sense data from the external world. To Freud every thing conscious "has an unconscious preliminary state," and the unconscious is "incompletely presented by the data of consciousness as is the external world by the communication of our sense organs ("The Interpretation of Dreams," 1900). We come then to a possible key principle in trying to understand the functionality of the unconscious as it may frame object loss and consequent psychological reaction to it which we may call the incompleteness principle. In such an observe phenomenon of mourning for example how was this complex of emotions could be triggered and brought to consciousness and how this "incompleteness" could lead to anxiety deep seated in the recess of the unconscious could enormously aid in facilitating awareness on the part of the mourner especially those which may have strong indication of

Hip Hop and Race Portrayal in News Essay Example | Topics and Well Written Essays - 1750 words

Hip Hop and Race Portrayal in News - Essay Example The paper "Hip Hop and Race Portrayal in News" analyzes gender portrayal in hip hop and race portrayal in news. Hegemony in gender usually follows a pattern in which men indirectly dominate women in society. Through discourses perpetrated through various ways especially in the media, such positions appear ingrained in the society and unquestionable. Douglas explores the issue of hegemony arguing that there is meaning, context and representation of various sociological aspects with most of these being used to perpetrate hegemony. Dyer discusses the establishment of stereotypes in detail and explains that stereotypic images portrayed in media forms are widely believed and agreed upon as being right. As Douglas states, analysis of hegemony involves historical socio-cultural inquiries into how culture and various social institutions from the media have been used to facilitate domination on rather broad social and political ends. Thus, in order to determine whether the media’s powe r is increasing or decreasing, this discussion shall seek to establish hip hop’s perpetration of gender hegemony and the counter-efforts to break these hegemonic discourses based on a time series analysis. The hip hop genre is known to perpetrate gender hegemony and misogyny and has, in fact, come under heavy criticism for this in the past. Perpetration of gender hegemony in hip hop involves using lyrics and videos to portray women as sex objects, trivializing them, marginalizing them and using derogative terms to refer to them.

Normal and Pathological mourning Essay Example | Topics and Well Written Essays - 8500 words

Normal and Pathological mourning - Essay Example The object thus is to evaluate the understanding of a model of mourning and object loss in the light of academic perspectives and to define a demarcation between normal and pathological mourning. Finally in the light of case studies and examples drawn from academic literature the Paper culminates with an attempt to formulate a diagnostic approach to facilitate better handling of mourning and grief which may turn depressive There are many ways in which we view the world and ourselves. We can go inward or go outward, forward or backward. Precisely defining the psychological processes which takes place in experiences and express it into certain behavior pattern has always been contentious and has occupied the minds of thinkers through out the ages, that is since the time people probably developed the faculty of introspection and analysis1. The obvious importance of knowing self, knowing the most innermost processes which goes on as we tackle everyday life lies in several assumptions about ourselves which without having a frame into which we can view ourselves will lead to a sort of a vicious intellectual cycle and places us in a paradoxical situation due to uncertainties, when unknowns overtake our attempt at articulation. And here lies the importance of the field of study opened by Freud and the array of thinkers and researchers which followed this path of probing for the very nature of our being including the innermost recesses of the mind, the unconscious. It is essential to abandon the overvaluation of the property of being conscious before it becomes possible to form any correct view of the origin of what is mental. In Lipps's words, the unconscious must be assumed to be the general basis of psychical life. The unconscious is the larger sphere, which includes within it the smaller sphere of the conscious. (Freud) To Freud, the influence of the unconscious is such that it shapes personality and behavior and understanding how the unconscious world has enormous significance as knowing the reality of the external world. This suggests that the internal psychical process which may be unarticulated is intimately related to processes which gather and process such sense data from the external world. To Freud every thing conscious "has an unconscious preliminary state," and the unconscious is "incompletely presented by the data of consciousness as is the external world by the communication of our sense organs ("The Interpretation of Dreams," 1900). We come then to a possible key principle in trying to understand the functionality of the unconscious as it may frame object loss and consequent psychological reaction to it which we may call the incompleteness principle. In such an observe phenomenon of mourning for example how was this complex of emotions could be triggered and brought to consciousness and how this "incompleteness" could lead to anxiety deep seated in the recess of the unconscious could enormously aid in facilitating awareness on the part of the mourner especially those which may have strong indication of

Communicating laboratory procedures Essay Example for Free

Communicating laboratory procedures Essay Laboratory procedures and practices must be communicated in a laboratory, because to keep the risk as minimum as possible by storing the chemical products in an appropriate and safe manner. A staff member shall be responsible for all stored chemicals and their use. All products must be labelled so that the researcher can identify and communicate the identity of the sample for laboratory staff. Unidentified chemical should be treated as infectious and disposed of in a proper way. All chemicals should be stored in suitable containment appropriate to hazard the agent. Containers used for storage must be enclosed or sealed. Accurate inventory should be maintained for the purpose of assessing risk and reducing unnecessary handling. Inventory must be updated to a minimum, annually. Each chemical container must also be labelled with the name or code of the chemical, the name and contact information of the user. This information must be legible to the environment is stored, i. e. indelible. A laboratory to reduce the risk good sanitation is essential to protect the integrity and chemicals. Cleaning routine should be invoked to provide work areas free from significant sources of contamination. It should be clean-up actions based on the higher degree of risk to the safety of individuals and the pilot may be exposed. Laboratory staffs are responsible for cleaning the seats in laboratories and equipment and areas that require specialised technical knowledge. Some laboratory cleaning connects: Â  Keeping laboratory clean and uncluttered surfaces must be clean and free of chemicals commonly used, glassware and instruments. Way to washbasin, eyewash areas, emergency showers and exits, and fire suffocations must not be blocked. Â  The proper clearance of chemicals and excess Old should not be used and the clearance of chemicals promptly and correctly. Â  Arranging a workplace which is free of physical hazards corridors and passageways must be free of subsiding hazards. Concentration must be given to electrical safety, particularly as it reveals to the use of extension cords, appropriate grounding of instrument and deterrence of the production of electrical hazards in wet areas. All laboratory instruments needs to be cleaned and verified of being free of hazards before being issued for correction or assistance. (Safetyfirstaid, 2009) All protective equipment must be cleaned, laundered and disposed of by the member of staff. Apparel contaminated with human blood or other potentially infectious materials should be handled as little as possible and needs to be collected in special boxes, labelled or colour coded. Laundry will be cleaned according to the specific laboratory operating procedures laundry facility. Appropriate protective equipment must be worn by member of staff who handles contaminated laundry. The inflammable hazard is evident when gases such as hydrogen, methane, and acetylene are acknowledged. However, the fire hazard can be appended greatly. Staff must avoid the dangers of fire risk, high-pressure gas. A very brief contact with liquids or materials at low temperatures can cause burns similar to burns from high temperature contacts. The eyes are particularly vulnerable to this type of exposure, so safety glasses are required. Suppliers of care of health are invited to subject an agreed whole of data for each audit. The data are contained in an environment very blocked, are analysed and adjusted the risk and are applied, with recommendations for the improvement. Feedback is via the annual reports available to the patients, the clinicians, the combined professionals of health, the information management and the personnel. The data gathered are replaced year-on-year to confirm progress and tend. Most audit checks also provide fast, secure, online information allows contributors to see from their own computer how their organisation is performing against agreed standards at national level if available and in comparison with other trusts and networks. Although several audits have been in operation for a short period of time, other more established checks already leading to improvements in direct patient care. For example, the audit of heart attack led to improvements in treatment following a stroke and more patients taking drugs that are effective when they are discharged. (NHS, 2009) All in all communicating laboratory procedures is important because laboratories are inherently fairly dangerous places, e. g. Physics laboratories often have high voltage electricity or ionising radiation, Chemistry laboratories have dangerous chemicals and Biology laboratories have biological hazards such as microorganisms that can cause diseases. The risk in a particular laboratory depends almost entirely on what happens to it. It is only through careful assessment by a qualified and experienced and then they identify risks establishing and following safe working practices in a laboratory can be done in a reasonably safe place to work. Audits are introduced to measure the quality of patient care and improvements over time. Security measures may include things such as training of personnel, exhaust systems, natural obstacles, and alternative less hazardous chemicals that achieve the same result. Nmsu, 2008. http://www. nmsu. edu/safety/images/signs/symbol2d. jpg Safetyfirstaid, 2009. http://www. safetyfirstaid. co. uk/images/catalogue/product/SG0088-L. jpg Weird, 2009. http://www. weird. fr/images/logo_405x401_hazard_highly_flammable. jpg NHS, 2009. http://www. ic. nhs. uk/statistics-and-data-collections/audits-and-performance/national-clinical-audits.

Effectiveness Of Customer Care Policies For Hospitality Industry Marketing Essay

Effectiveness Of Customer Care Policies For Hospitality Industry Marketing Essay Customers service we have to provide our customers there necessary requirements. Needs to address the business requirement. We have offered them the service on which they can keep their trust. We have to full fill their demands. Customer care- serve them beyond their expectation create the trust in them that we can serve them better. Make them comfortable so that they can always come back. Adapt the policy according to the guest demands. Importances the customers care policy in hospitality industry hospitality business is the word personalizes service to their precious customers .and them that customers are always right. Customers are like god. To make the customers happy the planes can be for internal and external customers if you want to expand your business then your internal and external customers also has to be very satisfied coz then only you can become a successful organisation. And your organisation can stay at the top for longer time of period. The reason of every big successful company is the ways they make their customers policies the policies which they make in their organisation those are favourable to the customers. These policies are helping the customers to archive their own goal or their targets .they analysed their weakness and strengths which are external problems. Need of customer care policies plans- Uninformed customer prospect incorrect or lacking market studies could guide the miss present the customers expectation causes frustration. To keep the customers happy or to complete their demands and wish some essential factors need to be handle carefully Trust promise -customers trust is very important it is everyone responsibility to deliver what they have promise to the customers errors can happens while doing the work. There are different pollicises for every department Service routine -service show could be dissatisfying because of staff not open-handed reason for this is they dont know their job well so they cant perform well. Poor knowledge and lack of coordination between employees. Low excellence principles -If the organization has set some principles then those could be unlike shapes the customers prospect and management. It may have the wrong self awareness about their customers needs. The effectiveness of customer care policies for hospitality industry It can help to know about the customers desire and their needs To know our competitors exact position in the market. We can identify the latest trends in the market. By this we can progress the examiners standards The effective customer care can improve the business. Hotel industry customers every hotel has the different customers their need also different they visit the hotel according to their needs and how much they can effort its all depend on customers. Customers have the different types they can be business customers tourist, leisure, student, disable, local etc. Business customers they dont select the same hotel often they select the according to their needs depends on what kind of business they are going to do it what facilities are they expecting from the hotel. Also business people travel all around the world they dont stay for long time in one hotel. They have to move according to their client their meetings. so their needs are different from other customers. Leisure client- leisure customers have more time to spend then business people. Their stay normally is long stay because they come to see the places they have enough time to spend the money and use the luxury facilities of the hotels. Leisure customers normally are couples, newly married, or rich people. Tourist client the name itself defines their identity tourist customers come to see the places their stay can be long or can be short depends what plane they have in their mind. Tourist people can be friends families. Etc mostly they choose the normal hotel or we can call it as budge hotels. Only the tourist who have more money to spend they prefer the luxury hotels. Citizen the local people also visit their historical places or for change they visit the places in their states only this people most of the time their stay is short they also prefer the budget hotels. Royalty card holder the name says itself royal means these customers are very important customers they need to treat differently than other customers. we have to give them special attendance they always stay in a luxury hotels their visit to the hotel can be frequent .they are the card holder of the big hotels also they provide the business to the hotels . How dose these points can be applied to the McDonalds case study ? As they serve the different types of customers in one organisation Kids and young generation- the main customers of the McDonalds are the young people and the kids their main motto is to serve them better way so they can come back again and again. They have really effort able prizes because the young people and kids they dont have lots of money to spend on their food. So MC Donalds suits their budget. Mc Donalds is the place where people can come and have a causal meeting or just for relax also they got different Varity in fast food. Families -as compare with the other fast food chain competitors they have Varity and a very effort able prize food every single kid want to go to the MC Donald and have some food. Business people-business people are very busy especially in the morning so they dont have time cook at home or spend some time is restaurants so they also prefers the fast food like MC Donald provides . Traveller -for travellers MC Donalds they provides the maps and happy meal in very low prize. So travellers can come and have the happy meal in quick time and thats how they can save their time. Disable people-for the disable people mc Donald have special facilities like they have special setting arrangement also discount in prizes. Health conscious people-people are very health conscious now they want to have salads, and less oil, no junk food in their daily meals so for them mc Donalds have different salads and other Varity food menu. Importance of customer care culture-the recent survey shows that they have done some evaluation of customer care program. 90% staff found that program is helpful. 92 % are saying that they learn out of it and now they have some knowledge about the hospitality industry. 80% have found the hand book was very important to them By getting some knowledge the customer care has been improved Evaluation of customer care program- Analyse recent customers needs of the market. Mc Donalds has to know what current position in the market is there. Where they are standing in the market. Identify their resources and they have to know their recourses from where they can get the business. Mc Donalds can be use as a customer care finest perform. For example bench marking. Mc Donalds have their own goals. they want to expand their business They need to examine the result and if there any problem then they needs to find out alternative solution for it. Analyse the feedback in regular intervals. KPI-key performance indicator Customer feedback is very important every organisation has to encourage their customers to give there feedback so that the organisation will come to know in which area they are lacking. The customers feedback can be verbal or non verbal. Verbal feedback- it can be face to face , telephonic Non verbal feedback-questioners, comment card, E mail feedback, feedback from staff Face to face-this can be direct interact with the guest this can be very quick way to get the feedback you can get the exact feedback from the guest. Telephone feedback-as we can use the latest technology so we can use it to give the feedback telephone feedback is one of them in this the customers can call the organisation and give their feedback. Questioner method -this is the principle which is given to the customers what they think about the company what are their expectations from the company every one cant express their feelings because of the language problem but questioner method help them to express their views and they can share their knowledge with everyone. Email feedback-today every hotel has their own website we can go to that website and can have a look of that hotel or organisation thats why Email feedback is very important you can give your feedback after visiting that hotel or that particular organisation. Comment card -this is an easy way to find out the customers feedback after every service or every visit you can give the customer ,feedback card and can request them to fill the feedback card . Guest history record -the guest history record helps to keep the estimate the helpfulness of the customer care policies this deals with the keeping the customers personal records, so that if they come next time then you already have their records. By keeping guest records can be very useful because if the customer knows that you really take care of them you already knows what they like and what they dont like then they will always come back to your organisation may be they will recommend Advantages of direct dialogue- This method helps to get the personal view and personal thoughts about the organisation. Or service Straight talk with the guest can help you to better understand the guest needs. Full keep count information is composed from the customers by using this method. Disadvantages of direct dialogue This process is very lengthy as customer point of view because business class people dont have that much time. Communication gap can occurs in this Advantages of telephone feedback- This is very quickest way and this can save the time also Customers can give there feedback direct on the phone after finish the stay in hotel. Disadvantage of telephone feedback- While talking on the phone with the customers if we cant understand what is the other person is saying then it can create the problem because you dont know what feedback customers is giving .so this can be disadvantages of the telephone feedback. This can be incomplete feedback You cant get the detail information on the phone. Advantages of questioner methods This is easy way to get the feedback from the customers This is also quick way to get the feedback from the customers you can get the data or some notes from the customers. This is low cost method compare to the other methods. Disadvantages of questioner method Sometimes customers dont feel comfortable to fill up the form This method can bring the verbal communication barriers Some time if the customers dont understand the question properly then he cant give you the perfect feedback. Advantages of Email feedback This can be easy way to give the feedback also this is more rapidly and cheaper way. Also we can easily communicate with the business client The words which we use in the e mails it can be easily read and easy to understand. Also we can give the detail information in the e mail. Email reply can be very fast and convenient Disadvantages of email feedback The main threats of the email feedback are the virus if the emails contain virus then you cant open that email so you cant have the feedback or you can lose the important data. Sometimes Emails can be very big, for the business client big emails are not good, because they dont have time to go through that email. Email sending is not useful to the tourist people simply because they dont have an access to the internet while travelling. Advantages of comment card This procedure gives the immediate feed back This card you can give the guest when they check out because that time they can give the feedback the reason for this is they already use the facilities what we have offered so they can give the feedback. Disadvantage of comment card Sometime the comment card information can be lost because you have to keep all the records all the documentation work, and if we lost that work then we cant get back to the customers. Sometimes if one particular person has got the bad guest feedback then that feedback form may be he will not give to his superiors if that happens then this can be loss for the company. Comment card feedback is not useful to the business people because they comes for short meeting or quick lunch or dinner that moment they dont have the time to fill the comment card. Advantages of guest history records This method is useful to the company to know their guest needs very well Also the guest will also feel very good that the company giving so much of respect so they will always want to go to that same company May be they can suggest the other people to go that particular organisation. This is how they can expand their business. Disadvantage of guest history records You have to keep so much of records for example you have to keep their birthday date, anniversary date etc. To keep that record up to date may be you need to appoint one extra person to do that job. Effectiveness of feedback method It can give the customers full detail information You can know what your customers expecting from you what their expectations. Customers likes and dislikes It apprises the service excellence It helps to know the current trends which are going in the market. Also help to improve the customer care policies Guest can give their feed back as much time or whenever they want at any time. Self empowerment Self empowerment means it allows all the staff of the organisation a