Leaving Las Vegas

He lost his family and screenwriting job in Hollywood, because of his non-stop consumption of alcohol.   Ben Sanderson became more and more depressed.   He finally decided to just sell off everything he has got; leave Los Angeles and transfer to Las Vegas.   His intention:   to die drinking alcohol.As he was driving drunk into Las Vegas he decided to check into a motel that he thought reads:   â€Å"The Hole You’re In†Ã‚   [which actually says The Whole Year Inn].   Ben think wryly and cynically how apt the situation is.   Then he almost runs over a prostitute:   Sera.     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   They got to know each other because Ben invited Sera to his motel room in exchange for $500.   But Ben did not make love to Sera.   He just wanted to talk.   They became friendly.   They eventually felt enamoured.   However, they decided to create a compact not to change each other’s way and just live happily day by day with no plan for the future.   They both agree.   Ben continues drinking all day long, Sera keeps on being a prostitute.However, as days go by, Sera starts feeling differently about Ben and becomes really concerned.   So she tries to make him eat.   To which Ben refuses and plays unaffected and just berates Sera to remember their agreement.   To top such frustration of Sera, Ben hires another prostitute and brings her to the house of Sera.   This made Sera more than furious and throws Ben out of her house.Days on, Sera receives a call from Ben already dying.   She visits Ben.   And they made love for the first time.   They fall asleep and for a minute Ben awakens seeing Sera on top of him.   Eventually, he breathes his last with Sera still on top of him.Patient Evaluation:Ben Sanderson is prone to depression because the more he indulged in alcoholism because of his life’s failures.   From the onset of the story, he is already experiencing a meltdown, a bridge of no return.Patients stated reason for problemWhat aggravated his high alcohol consumption was his broken marriage and his family disentanglement and his losing his job.History of IllnessNo previous indication of emotional dilemma prior to the family breakup and loss of job.Past Psychiatric illness, treatment, and outcomesNone as indicated in the story.Medical HistoryNone as indicated in the story.Psychosocial History As a professional in Hollywood, Ben Sanderson is seemingly sociable, well connected and enjoyed a fruitful career at an early stage.Drug and Alcohol history Up and until he could not handle the breakdown of his family, he was already an alcoholic.   The more it got worse after his failures in his married life and career.Behavioral Observation The loneliness that has enveloped Ben Sanderson has been so imminent from the beginning of the story.   He easily just talks up any prostitute to join him somewhere.   It was also depicted that his financial resources are always at the ebb.   He had to borrow money from friends for his drinking spree.   The gratuity payment he received from his lost job was for purposes of drinking and drinking only.In one scene with Sera, Ben Sanderson says:   n one You haven't seen the worst of it. I knock things over†¦ throw up all the time. These past few days I've been very controlled. You're like some sort of antidote that mixes with the liquor and keeps me in balance. But, that won't last forever.†Mental States Observation The mere fact that he openly accepts the termination of his boss from his job, he was even thankful for the gracious severance pay.   This is an illustration of being uncaring for one’s future.   But sine he cannot cope with his failure, so Ben Sanderson openly shows he is suicidal.   His purpose of moving to Las Vegas was to die.Functional Assessment The move/story immediately showed a Ben Sanderson already in pieces.   â€Å"†¦Ã¢â‚¬ ¦.[he] was imploding, rigi d in his attempt to maintain control, to smile when he does not feel a smile, to make banter when he wants to scream. He needs a drink. †¦Ã¢â‚¬ ¦. [he is] into the regions of hell. There will be times when he has the DTs, times when he must pour booze into his throat like an antidote to death, times of nausea, blackouts, cuts and bruises. There is a scene in a bank when his hands shake so badly he cannot sign a check, and we empathize with the way he tries to function, telling the bank teller whatever he can think of (â€Å"I've had brain surgery†). Yes, sometimes, he feels better, and sometimes we can sense the charm he must have had (we sense his boss' affection for him even as he's being fired). But for Ben these moments are not about pleasure but about the temporary release from pain.†Ã‚   (Ebert, 2004) StrengthsBen Sanderson is still cognizant of one simple coherent thing in his life:   he needs someone to care for him.   And he needs someone to care for.à ‚   Considering, Sera is the one and only human being in his life in the course of the story, he focuses on her.   Yes, he feels a pure love that is needing and grateful.   He did not even have sex as premium in his mind.   He just simply wants a feeling of belongingness and togetherness.   It is somehow an act of humility that inspite of the suicidal nature of his life, Ben Sanderson exuded even a weebit of dignity by being a needing and concerned human being.Diagnosis Ben Sanderson is borderline depressed andTreatment Psychotherapy will play a major role.   The mere fact that there is still a tinge of lucidness in wanting and needing, Ben Sanderson could very well respond to psychotherapy.   Aid of pharmacological intervention will likewise augment the psychotherapy treatment.Prognosis Sera indeed recommended that Ben sees a doctor which of course Ben refused.   However, had there been a way for the said action been taken, there is very good hope that Ben could have surpassed even the extreme condition of his alcoholism.   Considering that Sera has eventually developed a deep sense of concern and a better prospect for their relationship, it will be a tool to bridge the hope for Ben Sanderson. The DSM-IV CriteriaBen Sanderson experienced clinical disorder that is substance related.   His anxiety disorder is alcohol induced.   The film illustrated clearly as such and the story simply illustrated the basic paradox in humanness in someone who is terminally hopeless.   No myths about mental illnesses was every portrayed or illustrated.References:â€Å"DSM-IVTM   Multiaxial System (Made Easy)†.   Psyweb.comhttp://www.psyweb.com/Mdisord/DSM_IV/jsp/dsm.iv.jspâ€Å"Leaving Las Vegas:   A Review†.   Roger Ebert.   April 25, 2004http://www.rogerebert.suntimes.com/apps/pbcs.dll/article?AID=/20040425/REVIEWS08/404250302/1023

Qantas Essay

Qantas Airways is an Australian based airline and is a subset of the Qantas Group. It is a public-listed company in the ASX (Australian Securities Exchange). The purpose of this research is to provide information of the Qantas Group focusing on its profitability, efficiency and liquidity for the last 3 years. This research paper also examines the financial analysis and provides other relevant information to support in the evaluation of the company. 1 Company Profile 1.1 History Qantas is the world’s second oldest airline. It was founded in the Queensland outback in 1920 and has been in continuous operation since that date. Qantas is Australia’s largest domestic and international airline and is recognised as one of the world’s leading long distance carriers. The name comes from the initial letters of the words in the original registered title – Queensland and Northern Territory Aerial Services Limited. 1.2 Qantas Group Strategy Safety remains Qantas’ first operational priority and they are committed to maintaining the position as the leading Australian domestic carrier and one of the world’s premier sustainable long-haul airlines through the dual airline brands – Qantas and Jetstar. Qantas aim to maintain customer loyalty by delivering exceptional experiences through these dual brands, in conjunction with Qantas Frequent Flyer. The operating strategy is complimented with a prudent approach to capital management as they seek to deliver sustainable, long terms return to the shareholders. The Qantas Group strategic priorities are illustrated below. 4 1.3 Qantas Overview Qantas is Australia’s largest full service airline carrying 28 million passengers in 2011/2013 on 5,050 flights per week in Australia, New Zealand, Asia, North and South America, Africa and Europe. It is a founding member of the oneworld alliance. Qantas is a single integrated airlines providing airline transportation through its two Qantas brands – Qantas and QantasLink Main Markets Qantas’ main markets are domestic and international traffic to and from Australia. Qantas, a wholly-owned group of subsidiaries including QantasLink and Network Aviation, services 57 metropolitan and regional regular passenger transport destinations across Australia and Port Moresby in Papua New Guinea, as well as 19 dedicated fly-in-fly-out charter destinations. 2011/2012 Passenger Distribution Passenger Revenue Australia domestic 78% 51% International 22% 49% Customers Qantas carries business and leisure passengers Product Qantas offers passengers a premium network product on its extensive domestic and international network and through it oneworld membership, accessing 24 bilateral codeshare agreements (excluding Jetstar and Jetstar Asia with whom Qantas also has codeshare agreements), over 870 destination and 550 lounges. Passengers also have the opportunity to earn and redeem frequent flyer points across its global network. Qantas is focused on both business and leisure travellers by offering a one or two class product on domestic routes and a two, three or four class product for international services. 5 1.4 Jetstar Overview Jetstar commences operations in May 2004. It is the Qantas Group’s low fares airline and the largest low cost carrier in the Asia Pacific region. Jetstar comprises of Jetstar Domestic, Jetstar International and holdings in Singapore-based Jetstar Asia, Vietnam-based Jetstar Pacific and Jetstar Japan. In 2011/2012, its operations carried 18.7 million passengers to over  50 destinations in Australia, New Zealand, Asia and the Asia Pacific. Jetstar also recently announced its intention to invest in a new airline, Jetstar Hong Kong, with China Eastern Airlines in 2013. Main Markets Jetstar’s main markets are domestic and international traffic to and from Australia. Pan-Asian expansion has strengthened through Jetstar Asia, Jetstar Pacific and Jetstar Japan. New Zealand operations encompass both trans-Tasman and domestic New Zealand markets. 2011/2012 Passenger Distribution Passenger Revenue Australia domestic 57% 51% International 43% 49% Customers Jetstar focused on providing consistently low fares to predominantly leisure travellers. Product Jetstar offers domestic and international passengers a value based product with the flexibility to select additional operations in relation to seating, entertainment, catering, baggage and premium seating on long haul. Jetstar’s continual focus on leading online technology has enabled more innovative ways to book, check-in and board. 6 1.5 Fleet Qantas Group operates fleets comprises of Boeing 737-800, A330-200, A380-800 Boeing 787 Dreamliner, Bombardier Q400 and Boeing 717. Over the next 10 years, the Qantas Group has committed capital investment worth US$23 billion in more fuel efficient, next generation aircrafts such as A380-800, Boeing 787 Dreamliner and Airbus A320 neo. 1.6 Corporate and Social Responsibilities The Qantas Foundation was established as a charitable trust in 2008. It forms part of the Qantas Group’s commitment to operating in a sustainable and socially responsible manner. The Qantas Foundation focus on two key areas: ï‚ § Initiative that provide an immediate experience for those in need (Changing lives) ï‚ § Experiences and opportunities that empower the next generation of Australians to make a difference in community (Empowering change) To deliver this vision, the Qantas Group leverage off the diverse resources of the  Qantas Group – from their employees, diverse network of suppliers and partnerships, and the use of their own airline. Another initiative that the Qantas Group took on is aiming for a world class performance by protecting the environment for the generations. They aim to reduce their carbon footprint through several proven measures such as: ï‚ § Aircraft weight reduction initiatives ï‚ § Efficient ground power units in lieu of jet fuel driven auxiliary power units ï‚ § Using GPS-based navigation technology to improve operational efficiency ï‚ § Investing in a fuel efficient fleet such as Airbus A380 and Boeing 787 ï‚ § Facilitating a sustainable aviation fuel industry in Australia On ground, together with their partners, innovative projects and partnerships were set to achieve this goal. One example is the Clean Up Australia campaign; started since 1996, the Qantas Group have been a key corporate partner for the Clean Up Australia Foundation. Key Successes 1. Maintained a downward trend on electricity, water and waste-to-landfill consumption since 2006, despite operational growth. 2. Reduced environment impact between 2005 and 2011: Reduced electricity consumption by 8% Reduced water consumption by 19% Reduced waste-to-landfill by 21% 3. Maintained a downward trend on jet fuel emission intensity 7 2. Key Strategies The Qantas Group has a broad portfolio and a clearly defined strategy with the following core goals: ï‚ § Build on the Group’s domestic businesses through a clear focus on the customer ï‚ § Strengthened Jetstar’s presence across Asia to capture the full benefits of the region’s low-cost leisure travel boom. ï‚ § Continue to expand Qantas Frequent Flyer by adding new partners and increasing ways for members to earn and spend points. Some of the changes seen were introducing a new tablet-based in-flight entertainment system called Q Streaming that received outstanding feedback from passengers. New order for 10 Fokker 100 aircraft were placed to extend Qantas’ reach into Western Australia’s mining centres as part of the Group’s fly-in-fly-out strategy. Jetstar’s focus in the domestic market remained on building up  capacity on core leisure routes with modern fleet such as the A320 aircraft, adding almost 16,000 extra seats duri ng the year. Qantas Group also expanded alliance with American airlines, attracting consumers from the America regions. 8 2.1 SWOT Analysis on the Qantas Group STRENGTH Strong partnership with other alliance through its oneworld membership; accessing 24 bilateral codeshare agreements over 870 destination and 550 lounges. Passengers also have the opportunity to earn and redeem frequent flyer points across its global network which attracts consumer to choose the Qantas Airways over other airlines. Operate and fly in to many destinations such as Australia (Domestic), New Zealand, Asia, North and South America, Africa and Europe making Qantas Airways the ideal airline to consumers. WEAKNESS Qantas do not have many direct routes and depend heavily on its other airline partners. For example to get across to destinations such as Europe, the Middle East and North Africa, consumers have to transit at Dubai and change airlines to the Emirates to get to their final destination. This turns away consumers who prefer to fly in direct to the country. OPPORTUNITY Qantas’ subsidiary – Jetstar announced its intention to invest in a new airline; Jetstar Hong Kong, in partnership with China Eastern Airlines this year. This expands the flying business into the Chinese market. THREAT The global fuel price increase affects the airline industry. With higher fuel prices, the airline’s operating cost increases. To compensate, airline raise ticket prices to generate more revenue which in turn, turn away consumers and force them to look at other airline that provides competitive or even lower prices. Introduction of more low cost carriers from established airlines such as Scoot, a subsidiary airline of the Singapore Airline. 9 3. Ratios 3.1 Profitability Ratio (%) Profitability ratio is used to measure a company’s ability to generate revenue in relation to sales, assets and equity (i.e. often the sum of monies invested). It also shows how effective the company is being managed to stay profitable. Some commonly used profitability ratios include return on equity, return on investment, return on total assets, gross and net profit margins and return on capital employed. Profitability ratios provide investors guidance in their assessment of the company’s financial health and performance. For example, return on investment indicates whether the company is generating enough profits for its shareholders. Net profit margin declined by 0.52% in 2012 while an increase of 0.53% occurred in 2011 as seen in Table 1. It is slightly lower than the industry averages of 1.737% by 0.377%. The decline in net profit margin may be attributed to rising fuel costs, fall in freight, tours and travel revenue. In 2012, Qantas incurred restructuring costs of AUD376 million compared to nil in 2011, which is in relation to their initiative to reduce costs and improve business in the international segment. The other ratios such as Return on assets (ROA) and return on equity also declined to 2.12% and 3.38% respectively in 2012. Profitability Year/Ratio 2010 2011 2012 Industry averages Return on total assets (ROA) 1.76% 2.28% 2.12% 2.630% Return on equity 2.88% 4.26% 3.38% 5.290% Net profit margin 1.35% 1.88% 1.36% 1.737% 10 3.2 Efficiency Efficiency ratios are used to show how well a company uses its assets and liabilities efficiently to be able to earn significant amount of profits. Examples of efficiency ratios include asset turnover, inventory turnover, receivables turnover and payables turnover. Qantas may be considered as efficient in utilizing its resources to generate revenue, with asset turnover showing an increase to 252 days in 2012 compared to 245 days in 2011. Generally the higher a company’s asset turnover, it means the assets have been used more efficiently. From table 2, the number of days taken for creditors to be paid fell to 45.41 days in 2011, however a modest increase of 1.45 days was experienced in 2012. Compared to industry averages, Qantas took a longer time to pay their creditors. On the other hand, number of days debtors took to pay was shortened by 2.09 days in 2012 while there was an improvement of 1.62 days in 2011. However the receivables turnover is a little higher at 19.83 days co mpared to industry averages of 18.45 days. Inventory turnover shows the frequency a company’s inventory is sold and replaced over a period. A high turnover indicates strong sales while a low turnover may imply poor sales and hence excess inventory. Inventory turnover fell to 9.39 days in 2012 compared to 9.72 days in 2011. However the ratio is higher than industry average of 8.52 days. Table 2 Efficiency Year/days 2010 2011 2012 Industry averages Days payable 50.43 45.41 46.86 43.90 Days receivable 23.54 21.92 19.83 18.45 Days inventory 9.19 9.72 9.39 8.52 Asset turnover 234 245 252 284.70 11 3.3 Liquidity Liquidity ratio measures the company’s ability to pay its short term liabilities when due. It is calculated by dividing cash and other liquid assets by the short term borrowings and current liabilities. This will show the number of times the short term obligations are covered by the cash and liquid assets. The short term obligations are considered fully covered and the company is in good financial health if the value is greater than 1. The higher the liquidity ratio, the higher the capability the company possesses to meet its current liabilities. Examples of liquidity ratio include current ratio and quick ratio. Current ratio for Qantas was 0.90 in 2011 and 0.77 in 2012, near industry average of 0.81. In comparison to Virgin Australia Holdings Ltd whose current ratio is 0.65 in 2011 and 2012 (See table 4), Qantas appears more stable though the values of its current ratio are less than 1 for both years. Quick ratio also known as the acid-test ratio focuses on the most liquid as sets, leaving inventory out which may be hard to turn into cash in a timely manner. In the case of Qantas, the quick ratio was 0.71 in 2012, 0.14 drop from 0.85 in 2011, while industry average is 0.75. As compared to Virgin whose quick ratio was 0.61 in 2012, the company seems to be in a stronger position to meet its short term commitments. Table 3 Liquidity Year/Ratio 2010 2011 2012 Industry averages Current ratio 0.93 0.90 0.77 0.81 Quick ratio 0.88 0.85 0.71 0.75 12 Table 4 – Growth Profitability and Financial Ratios for Virgin Australia Holdings Limited Liquidity/Financial Health 2010-06 2011-06 2012-06 Current Ratio 0.76 0.65 0.65 Quick Ratio 0.75 0.62 0.61 Financial Leverage 4.15 4.15 4.3 Debt/Equity 2.3 3.21 3.96 Source: 2013 Morningstar, Inc. 13 3.4 Gearing Ratio Gearing ratio compares owners’ equity or capital to borrowings. Gearing is a measure of financial leverage showing the extent to which a company’s activities or operations are funded by owners’ funds against borrowed funds. A high gearing ratio indicates that a company is using debt to pay for its operations and may risk inability to meet repayments in an economic downturn. The situation could be made worse where rates move upwards suddenly. Lenders are generally concerned about excessively high gearing ratio that may put their loans at risk for non-repayment. Some examples of  gearing ratio are debt equity ratio and net interest cover. For Qantas, the gearing ratio increased to 111.21% in 2012 compared to 98.05% in 2011. This means the company used debt instead of equity to fund its continuing operations. However, this ratio is lower that industry average of 130.547%. Net interest cover ratio refers to the ease a company pays interest expenses on outstanding debt. The lower the ratio, the more the company is burdened by debt expense. The company’s ability to meet interest payments may be doubtful when the ratio is 1.5 or lower. In Qantas case, the net interest cover ratio dropped sharply to 1.54 in 2012 against 3.96 in 2011. This ratio of 1.54 is close to the threshold of 1.5 and is indicative that Qantas may face cash flow problems and inability to meet interest expenses should rates increase suddenly. Table 5 Gearing Year/days 2010 2011 2012 Industry averages Net Interest cover ratio 4.16 3.96 1.54 2.35 Gross Gearing (D/E) 95.600% 98.050% 111.210% 130.547% 14 3.5 Investment ratio A shareholder can analyse the financial information available to determine if the investment in a company is of value and quality. The price/earnings ratio is the best known investment valuation indicators and used widely by investment professionals and investors. Generally the stock with a high price earnings ratio indicates that investors expect higher earnings growth in the future. The price earnings ratio for Qantas was 12.23 in 2012, 15.90 in 2011 and 29.14 in 2010. A sharp decline of 13.24 was recorded in 2011 due to market confidence in this stock prior to 2011. However the industry average is 12.25 which may suggest that investors may be less likely to

FBIs background on the Racketeer Influenced and Corrupt Organizations Research Paper

FBIs background on the Racketeer Influenced and Corrupt Organizations Act - Research Paper Example However, the young bureau landed him in the federal prison. The more the state of Chicago banned organized crimes; the more novel groups of organized crime rose and prospered immensely. These were the racketeers, gangsters and hoodlums. The rackets used coercions of vehemence to force businesses to ante up a percentage of their proceeds for â€Å"protection†. Charles â€Å"Lucky† Luciano was a New York resident. He arose to supremacy in the Mafia and molded it into a designed, undisclosed society of criminals. This eventually came to be known as the organized crime that we know of today. The young bureau was therefore faced with a challenge of establishing a valuable weapon against these criminal rings. Precise information was deliberated to be the valuable weapon against the organized crime. The young bureau investigated specifics on the key players of these criminal rings, their intertwining networks, maneuvers as well as competencies. The Chicago agents built this foundation of knowledge via informers and other contacts. A far-reaching directory of pictures and background of more than three hundred of the tarnished criminals and associates of their gang was equally obtained. In 1930s, the rackets in Chicago extorted money from electric sign companies, candy jobbers, and dental laboratories. They were however laid bare by the young bureau. This helped to paint a picture of the menace for all law enforcement officers. The young bureau plotted out the influences of these criminals. They also uncovered the promoters of the organized crimes, for example, the money launderers and fences. This formally marked the commencement of the fight against organized crime. The young bureau started constructing the criminal just support system in partnership with their law enforcement officers. This heightened a synchronized, coated attack against both criminal and terrorist networks. Wide-ranging training for law enforcement professionals was also

The Role, Purpose and Value of Design and Technology in the School Essay

The Role, Purpose and Value of Design and Technology in the School Curriculum - Essay Example Education should be made equally accessible to everyone despite of the race, ethnic or social class to which a person belongs; this would not only create a more equitable society but also create a harmony among the people living in the society. One of the fundamental reasons for the striking income disparity between people of the same society in this capitalist world lies in unequal access to education for everyone which eventually puts people belonging to lower income classes at disadvantaged and hence they never get out of their poverty trap (Matheson, 2008). Furthermore, the purpose of education is to make children aware of what they want to do with their lives, what opportunities lay ahead, what are the possible fields they can progress into etc. Above everything else, education helps the individuals to secure their future not only for themselves but for their families as well, as education is positively related to higher incomes. Studies have consistently proven over time that i ndividuals with a higher college or university degree end up earning more as compared to their counterparts with less education (Owen-Jackson, 2007). Moreover, another crucial facet of education is the chance of upward social mobility it provides to individuals who seek higher education. In this fast paced world where competition has become severe and only survival of the fittest is possible, education should not be restricted to bookish and theoretical text only but it must also incorporate informal education and knowledge of skills that would entail an individual to live a better and prosperous life (Posner, 2003). Importance of education has become more pivotal than ever before as the world has transformed into a global village where information technology now plays an unprecedented role in our lives; economies which once used to be agricultural centers have changed to service and manufacturing economies where education and skills are imperative for the survival (Posner, 2003). A part from the monetary and financial gains of education, another purpose central to education is to create a civilized society where everyone is given equal rights and where ethics and morals are given due importance for a higher standard of living so that everyone can live peacefully in a secured environment. Education inculcates an ability to differentiate what is right or wrong in life. It helps individuals to distinguish between the acceptable and unacceptable values. It makes people politically and socially aware of their responsibilities as a citizen of the state. In other words, education can be attributed as a fundamental on which a society with higher economic, political and social growth is formed; as a major role of education is to integrate people in order to keep social setup stable and smooth (Sleeter, 2005). Lastly, in a nut shell education is an investment for lifetime which provides more freedom to live a better life and the benefits of which are not only restricted to individuals but it contributes to the society in which the person resides. It is the role of government to make sure that every individual is getting an equal and an unbiased opportunity to access education in order to form an equitable and just society. Importance of Curriculum with a focus on UK Education System: Education is crucial for the development of a civilized socie

The Emergence of Industry Clusters. Theory & Evidence Essay

The Emergence of Industry Clusters. Theory & Evidence - Essay Example According to the researchers, an industry cluster may be defined as a geographical adjacent group of interrelated industrial firms and connected institutions which is linked by unity and harmony. In an organisational form, clusters offer more flexibility to the industrial firms in the ever- changing industrial environment. In other words, the extent along with the nature of link between the customers, the suppliers and the competitors determine the various advantages of industrial cluster with respect to industrial structure. The emergence of industry clusters has made an exceptional mark as well as caused a significant variation in regional financial performance of the United States and Germany. Through the occurrence of pioneering clusters of the companies and industries such as semiconductor industry of Silicon Valley, automobile industry of Detroit and German Laser industry, the researchers observed that the above mentioned industrial units attained strong financial performance d ue to the presence of modernised clusters. Thus, it can be stated that during the emergence of industry clusters lie a significant as well as mention worthy effect upon attaining strong and well organised financial performance which is performed by the industrial units such as semiconductor industry of Silicon Valley, automobile industry of Detroit and German Laser industry. The industry clusters act as a source of local modernisation along with improvement towards geographic attention of various business organisations, industrial firms and related trade institutions that include standard agencies and trading organisations among others. ... rgement, the formation and the progression of industry clusters such as semiconductor industry of Silicon Valley, automobile industry of Detroit and German Laser industry are elaborately discussed. Supportive theories and evidences along with various prescribed policy recommendations regarding the emergence and impact of industry clusters will also be taken into concern in the discussion of this paper. Key Facts of the Industry Clusters There are various factors that are associated with industry clusters that encompass a favourable business situation which is an elementary requirement for activating industrial agglomeration (Klepper, 2009). The factors that include steady macroeconomic atmosphere, government institutional structure, enhanced legal system, and modernised technologies are regarded as a few of the encouraging factors for industrial clustering. The factors that include deficiency of low labour cost, trained labours and professionals, scarcity of advanced physical structu re such as roads, legalised actions and legislations and lack of improved logistics, production methods and innovative business operations eventually act as an obstacle towards industrial clustering (Klepper, 2009). Along with the encouraging factors, there also lie certain major elements that act as a crucial obstacle towards industrial clustering. It has been identified that the two most inspiring and remarkable industry clusters of the United States are especially the semiconductor industry in Silicon Valley and the automobile industry in Detroit (Klepper, 2009). In the early days of semiconductor industry i.e. 1950, Silicon Valley enjoyed maximum financial leverage due to the contribution of its semiconductor industry. However, in the next 30 years, nearly 100 semiconductor companies

Visitor attraction management Essay Example | Topics and Well Written Essays - 500 words

Visitor attraction management - Essay Example The very definition of visitor attraction is as follows: A permanently established excursion destination, a primary purpose of which is to allow public access for entertainment, interest or education; rather than being primarily a retail outlet or a venue for sporting, theatrical or film performances. (ETC, 2001, p. 8 cited in Dewhurst and Dewhurst, 2005, p. 8). The â€Å"Survey of Visits to Visitor Attractions† defines visitor attraction as something, of a permanent nature, which promotes education and entertainment, and for seeing which, it is reasonable to charge the tourists or day visitors that hold interest in it (Dale, and Oliver, 2005). The attraction is essentially open to public in the stated period every year without any need to have a prior booking for visiting that. Visitor attraction as defined by The Scottish Tourism Board (cited in Lubbe, 2003) is â€Å"a permanent establishment that draws tourists and day visitors†. According to Middletown (1988, p. 7 c ited in Mahmood, 2002, p. 122), visitor attraction is â€Å"A designed permanent resource which is controlled and managed for the enjoyment, amusement, entertainment, and education of the visiting public†.

Managerial economics and strategic analysis Essay

Managerial economics and strategic analysis - Essay Example Hays (2004) estimates that about 70 % of the sales volume for the Company comes from outside the United States and about 80% of the profits comes from non American countries. Coca cola Company is therefore one of the Companies with most presence in the world, which is attributed to the fact that the soft drink; Coca Cola is widely available globally and has become the world’s favorite soft drink (Hays, 2004). According to Dess (2012), the successful implementation of a Company’s strategy requires effective strategic control. Control is in the form of behavior and how information is used. In order to cater for the interests of the two key players in a Company, that is the shareholders and the managers, a Company must ensure that these interests are aligned (Dess, 2012). This can be achieved through establishing corporate governance. Globally, the soft drink market is dominated by three Companies; the Coca Cola, Cadbury’s Schweppes and Pepsi Cola Companies. Coca Cola laid claim to about 47% of the global market with Pepsi Cola following at 21 % and Schweppes at 8%. In aligning the interests of the Company shareholders and managers, Coca Cola separated the Company separated it’s ownership from its control. This was made possible through the employment of managers to run the Company on behalf of the owners. The company employs the use of incentives intended for its managers to facilitate the achievement of the Company’s goals. The control of governance mechanisms has been successfully achieved through the use of external auditors who check the Company books regularly to ensure that the financial information disclosed by the Managers is accurate and in doing so; protect the owners from financial risks (Dess, 2012). The Company is also subject to external regulatory bodies that check for the quality of their product and control the standards of these products. These bodies ensure that the consumer gets a product that fits their needs