Managerial Analysis: BYP6-2 Essay

Breakeven Point – Fixed Expenses / Contribution Margin Ratio Current Approach: 200,000 / .4 = $500,000 Automated Approach:600,000 / .8 = $750,000 The current approach without investing in the new robotic painting booth has a higher margin of safety (Total Sales- Breakeven sales = Margin of safety. Current: $2,000,000 – $500,000 = $1,500,000 Automated: $2,0000,000 – $750,000 = $1,250,000 Using the current approach, they cannot increase capacity and would have to turn sales away. As long as they are beyond the break-even of 500,000 for the automated approach, they can improve their sales and possibly their contribution margin and gross margin with purchasing the robot painting booth. On the down side, they would have to possibly lay off 25 of their skilled painters, which is not good for the community where the business is located. (c) Using the current level of sales, compute the margin of safety ratio under each approach and interpret your findings. Current ApproachAutomated Approach Actual Sales$2,000,000$2,000,000 Break-Even Sales$500,000$750,000 Actual Sales$2,000,000$2,000,000 Margin of Safety Ratio0.750.625 (Actual Sales- Break-Even Sales)/Actual Sales= Margin of Safety Ratio The purpose of margin of safety ratio is to evaluate the relative impact if the changes in sales would have on each approach. The difference in the ratio represents the difference in risks between Current and Automated Approach. To find the ratio, we use actual sales minus the break-even sales; the result is the margin safety ratio. Generally speaking, this ratio is the lower the better because it indicates the risk of operating loss; in this case, the Automated Approach is more favorable to the company. (d) Determine the degree of operating leverage for each approach at current sales levels. How much would the company’s net income decline under each approach with a 10% decline in sales? Current ApproachAutomated Approach Contribution Margin$800,000$1,600,000 Net Income$600,000$1,000,000 Degree of Operating Leverage1.331.60 Contribution Margin/ Net Income= Degree of Operating Leverage We find the degree by using contribution margin / Net Income of each approach; the results are the degree of operating leverage. This approach is important to the decision makers because the analysis indicates the earnings volatility; in general, higher operating leverage indicates a higher earnings volatility risk. The degree of operating leverage is an important tool aiming the company to know the behaviors of its competitors; as well as the comparison of two approaches if the management considering to adopt a new approach to replace the existing one. Assume the net income of each approach decline with a 10% decline in sales, the net income under Current Approach will reduce by 13.3% (1.33*10%), and the net income under the automated approach will decrease by 16% (1.60*10%). The conclusion is Automated Approach exposes to a higher earnings volatility risk because it has a higher  operating leverage. (e) At what level of sales would the company’s net income be the same under either approach? The level of sales that the company’s net income would be the same under either approach is $1,000,000. .6x + 200,000 = .2x + 600,000 .8x = 800,000 x = $1,000,000 (f) Discuss the issues that the company must consider in making this decision. Many items need to be considered before the company makes a decision. The automated approach has a lower margin of safety should sales decline meaning the company would lose money quicker than if it remain under the original approach. The operating leverage is also higher under the automated approach. All of the calculations indicate a greater risk to the company under the automated approach, but as often happens this is the approach that also offers the greatest potential for profits if sales continue to grow. These risks need to be weighed carefully to protect the company’s income.

The Host EPILOGUE. Continued

I was not the same. This was my first rebirth into a body of the same species. I found the transfer much more difficult than changing planets because I had so many expectations about being human already in place. Also, I'd inherited a lot of things from Petals Open to the Moon, and not all of them were pleasant. I'd inherited a great deal of grief for Cloud Spinner. I missed the mother I'd never known and mourned for her suffering now. Perhaps there could be no joy on this planet without an equal weight of pain to balance it out on some unknown scale. I'd inherited unexpected limitations. I was used to a body that was strong and fast and tall-a body that could run for miles, go without food and water, lift heavy weights, and reach high shelves. This body was weak-and not just physically. This body seized up with crippling shyness every time I was unsure of myself, which seemed to be often these days. I'd inherited a different role in the human community. People carried things for me now and let me pass first into a room. They gave me the easiest chores and then, half the time, took the work right out of my hands anyway. Worse than that, I needed the help. My muscles were soft and not used to labor. I tired easily, and my attempts to hide that fooled no one. I probably couldn't have run a mile without stopping. There was more to this easy treatment than just my physical weakness, though. I was used to a pretty face, but one that people were able to look at with fear, mistrust, even hatred. My new face defied such emotions. People touched my cheeks often, or put their fingers under my chin, holding my face up to see it better. I was frequently patted on my head (which was in easy reach, since I was shorter than everyone but the children), and my hair was stroked so regularly that I stopped noticing when it happened. Those who had never accepted me before did this as often as my friends. Even Lucina put up only a token resistance when her children began following me like two adoring puppies. Freedom, in particular, crawled onto my lap at every opportunity, burrowing his face in my hair. Isaiah was too big for such displays of affection, but he liked to hold my hand-just the same size as his-while chattering excitedly with me about Spiders and Dragons, soccer and raids. The children still wouldn't go anywhere near Melanie; their mother had frightened them too thoroughly before for her reassurances to change things now. Even Maggie and Sharon, though they still tried not to look at me, could not maintain their former rigidity in my presence. My body was not the only change. The monsoons came late to the desert, and I was glad. For one thing, I'd never smelled the rain on the creosotes before-I could only vaguely remember it from my memories of Melanie's memories, a very dim trail of recall indeed-and now the scent washed out the musty caves, left them smelling fresh and almost spicy. The scent clung to my hair and followed me everywhere. I smelled it in my dreams. Also, Petals Open to the Moon had lived in Seattle all her life, and the unbroken streak of blue skies and blistering heat was as bewildering-almost numbing-to my system as the dark press of heavy overcast skies would have been to any of these desert dwellers. The clouds were exciting, a change from the bland, featureless pale blue. They had depth and movement. They made pictures in the sky. There was a great deal of reshuffling to be done in Jeb's caves, and the move to the big game room-now the communal sleeping quarters-was good preparation for more permanent arrangements to follow. Every space was needed, so rooms could not remain vacant. Still, only the newcomers, Candy-who had remembered her correct name at last-and Lacey, could bear to take Wes's old space. I pitied Candy for her future roommate, but the Healer never betrayed any discontent at the prospect. When the rains ended, Jamie would move into a free corner in Brandt and Aaron's cave. Melanie and Jared had kicked Jamie out of their room and into Ian's before I'd been reborn in Pet's body; Jamie wasn't so young that they'd needed to give him any excuse. Kyle was working on widening the small crevice that had been Walter's sleeping space so that it would be ready when the desert was dry again. It really wasn't big enough for more than one, and Kyle would not be staying there alone. At night in the game room, Sunny slept curled into a ball against Kyle's chest, like a kitten who was friends with a big dog-a rottweiler whom she trusted implicitly. Sunny was always with Kyle. I couldn't remember ever seeing them unattached since I'd opened these silver gray eyes for the first time. Kyle seemed constantly bemused, too distracted by this impossible relationship he couldn't quite wrap his head around to pay attention to much else. He wasn't giving up on Jodi, but as Sunny clung to him, he held her to his side with gentle hands. Before the rain, every space was taken, so I stayed with Doc in the hospital that no longer frightened me. The cots were not comfortable, but it was a very interesting place to be. Candy remembered the details of Summer Song's life better than her own; the hospital was a place of miracles now. After the rain, Doc would not be sleeping in the hospital anymore. The first night in the game room, Sharon had dragged her mattress right next to Doc's without a word of explanation. Perhaps it was Doc's fascination with the Healer that motivated Sharon, though I doubted Doc had even noticed how pretty the older woman was; his fascination was with her phenomenal knowledge. Or maybe it was just that Sharon was ready to forgive and forget. I hoped that was the case. It would be nice to think that even Sharon and Maggie might be softened over time. I would not stay in the hospital anymore, either. The crucial conversation with Ian might never have taken place if not for Jamie. My mouth would go all dry and my palms would sweat whenever I so much as thought of bringing it up. What if those feelings in the hospital, those few perfect moments of certainty right after I'd awoken in this body, had been illusion? What if I remembered them wrong? I knew that nothing had changed for me, but how could I be certain Ian felt the same? The body he'd fallen in love with was still right here! I expected him to be unsettled-we all were. If it was difficult for me, a soul used to such changes, how hard must it be for the humans? I was working to put the last of the jealousy and the perplexing echoes of the love I still felt for Jared behind me. I didn't need or want them. Ian was the right partner for me. But sometimes I would catch myself staring at Jared and feel confused. I'd seen Melanie touch Ian's arm or hand and then jerk away as if she'd suddenly remembered who she was. Even Jared, who had the least reason for uncertainty, would occasionally meet my confused gaze with a searching one of his own. And Ian†¦ Of course it must have been hardest for him. I understood that. We were together nearly as much as Kyle and Sunny. Ian constantly touched my face and hair, was always holding my hands. But who did not respond to this body that way? And wasn't it platonic for everyone else? Why didn't he kiss me again, the way he had that first day? Maybe he could never love me inside this body, as appealing as it seemed to be to all the other humans here. That worry was heavy in my heart the night Ian had carried my cot-because it was too heavy for me-to the big, dark game room. It was raining for the first time in more than six months. There were both laughter and complaints as people shook out their damp bedding and arranged their places. I saw Sharon with Doc and smiled. â€Å"Over here, Wanda,† Jamie called, waving me toward where he'd just set his mattress next to Ian's. â€Å"There's room for all three of us now.† Jamie was the one person who treated me almost exactly the same as before. He did make allowances for my puny physique, but he never seemed surprised to see me enter a room or shocked when Wanderer's words came through these lips. â€Å"You don't really want that cot, do you, Wanda? I'll bet we could all fit okay on the mattresses if we shoved them together.† Jamie grinned at me while he kicked one mattress into the other without waiting for agreement. â€Å"You don't take up much space.† He took the cot from Ian and set it on its side, out of the way. Then Jamie stretched out on the very edge of the far mattress and turned his back to us. â€Å"Oh, hey, Ian,† he added without turning. â€Å"I talked to Brandt and Aaron, and I think I'm going to move in with them. Well, I'm beat. Night, guys.† I stared at Jamie's unmoving form for a long moment. Ian was just as motionless. He couldn't have been having a panic attack, too, though. Was he thinking of some way to extricate himself from the situation? â€Å"Lights out,† Jeb bellowed from across the room. â€Å"Everybody shut yer trap so I can get some shut-eye.† People laughed, but took him seriously as always. One by one, the four lamps were dimmed until the room was black. Ian's hand found mine; it was warm. Did he notice how cold and sweaty my skin was? He sank to his knees on the mattress, tugging me gently along. I followed and lay down on the seam between the beds. He kept my hand. â€Å"Is this okay?† Ian whispered. There were other hushed conversations going on around us, made indistinct by the rush of the sulfur spring. â€Å"Yes, thank you,† I answered. Jamie rolled over, shaking the mattress and knocking into me. â€Å"Oops, sorry, Wanda,† he murmured, and then I heard him yawn. Automatically, I shifted out of his way. Ian was closer than I'd thought. I gasped quietly when I ran into him, then tried to give him some room. His arm was suddenly around me, holding me to his body. It was the strangest feeling; having Ian's arm around me in this very nonplatonic way reminded me oddly of my first experience with No Pain. Like I'd been in agony without realizing it, and his touch had taken all the hurt away. That feeling erased my shyness. I rolled so that I was facing him, and he tightened his arm around me. â€Å"Is this okay?† I whispered, repeating his question. He kissed my forehead. â€Å"Better than okay.† We were silent for a few minutes. Most of the other conversations had died out. He bent down so that his lips were at my ear and whispered, quieter than before, â€Å"Wanda, do you think†¦?† He fell silent. â€Å"Yes?† â€Å"Well, it looks like I have a room all to myself now. That's not right.† â€Å"No. There's not enough space for you to be alone.† â€Å"I don't want to be alone. But†¦Ã¢â‚¬  Why wouldn't he ask? â€Å"But what?† â€Å"Have you had enough time to sort things out yet? I don't want to rush you. I know it's confusing†¦ with Jared†¦Ã¢â‚¬  It took me a moment to process what he was saying, but then I giggled quietly. Melanie wasn't much given to giggling, but Pet had been, and her body betrayed me at this most inopportune moment. â€Å"What?† he demanded. â€Å"I was giving you time to sort things out,† I explained in a whisper. â€Å"I didn't want to rush you-because I know it's confusing. With Melanie.† He jumped just a little in surprise. â€Å"You thought†¦? But Melanie isn't you. I was never confused.† I was smiling in the dark now. â€Å"And Jared isn't you.† His voice was tighter when he answered. â€Å"But he's still Jared. And you love him.† Ian was jealous again? I shouldn't have been pleased by negative emotions, but I had to admit this was encouraging. â€Å"Jared is my past, another life. You are my present.† He was quiet for a moment. When he spoke again, his voice was rough with emotion. â€Å"And your future, if you want that.† â€Å"Yes, please.† And then he kissed me in the most unplatonic way possible under the crowded circumstances, and I was thrilled to remember that I'd been smart enough to lie about my age. The rains would end, and when they did, Ian and I would be together, partners in the truest sense. This was a promise and an obligation I had never had in all my lives. Thinking of it made me feel joyful and anxious and shy and desperately impatient all at the same time-made me feel human. After all this had been settled, Ian and I were more inseparable than ever. So when it came time for me to test my new face on the other souls, of course he went with me. This raid was a relief for me after long weeks of frustration. It was bad enough that my new body was weak and nearly useless in the caves; I couldn't believe it when the others didn't want to let me use my body for the one thing it was perfect for. Jared had specifically approved of Jamie's choice because of this guileless, vulnerable face that no one could ever doubt, this delicate build that anyone would be motivated to protect, but even he had a hard time putting his theory into practice. I was sure raiding would be every bit as easy for me now as it had been before, but Jared, Jeb, Ian, and the others-everyone but Jamie and Mel-debated for days, trying to find a way around using me for that. It was ridiculous. I saw them eyeing Sunny, but she was still unproven, not trusted. On top of that, Sunny had absolutely no intention of setting one foot outside. The very word raid had her cowering in terror. Kyle would not go out with us; Sunny had gone hysterical the one time he'd mentioned it. In the end, practicality had won out. I was needed. It was good to be needed. Supplies had been dwindling; this would be a long, thorough trip. Jared was leading the raid, as usual, so it went without saying that Melanie was included. Aaron and Brandt volunteered, not that we really needed the muscle; they were tired of being cooped up. We were going far to the north, and I was excited to see the new places-to feel the cold again. Excitement got a bit out of hand in this body. I was bouncy and hyper the night we drove to the rock slide where the van and the big moving truck were hidden. Ian was laughing at me because I could hardly hold still as we loaded the clothes and sundries we would need into the van. He held my hand, he said, to tether me to the surface of the planet. Was I too loud? Too oblivious to my surroundings? No, of course that was not it. There was nothing I could have done. This was a trap, and it was too late for us the minute we arrived. We froze when the thin beams of light shot out of the darkness into Jared's and Melanie's faces. My face, my eyes, the ones that might have helped us, stayed obscured, hidden in the shadow made by Ian's wide back. My eyes were not blinded by the glare, and the moon was bright enough for me to clearly see the Seekers that outnumbered us, eight to our six. Bright enough for me to see the way they held their hands, to see the weapons that glinted in them, raised and pointed at us. Pointed at Jared and Mel, at Brandt and Aaron-our only gun still undrawn-and one centered dead on Ian's chest. Why had I let him come with me? Why did he have to die, too? Lily's bewildered questions echoed in my head: Why did life and love go on? What was the point? My fragile little heart shattered into a million pieces, and I fumbled for the pill in my pocket. â€Å"Steady, now, everybody just keep calm,† the man in the center of the group of Seekers called out. â€Å"Wait, wait, don't be swallowing anything! Jeez, get a grip! No, look!† The man turned the flashlight on his own face. His face was sun browned and craggy, like a rock that had been eroded by the wind. His hair was dark, with white at the temples, and it curled in a bushy mess around his ears. And his eyes-his eyes were dark brown. Just dark brown, nothing more. â€Å"See?† he said. â€Å"Okay, now, you don't shoot us, and we won't shoot you. See?† And he laid the gun he was carrying to the ground. â€Å"C'mon, guys,† he said, and the others slid their guns back into holsters-on their hips, their ankles, their backs†¦ so many weapons. â€Å"We found your cache here-clever, that; we were lucky to find it-and decided we'd hang out and make your acquaintance. It's not every day you find another rebel cell.† He laughed a delighted laugh that came from deep in his belly. â€Å"Look at your faces! What? Did you think you all were the only ones still kickin'?† He laughed again. None of us had moved an inch. â€Å"Think they're in shock, Nate,† another man said. â€Å"We scared them half to death,† a woman said. â€Å"What do you expect?† They waited, shuffling from foot to foot, while we stood frozen. Jared was the first to recover. â€Å"Who are you?† he whispered. The leader laughed again. â€Å"I'm Nate-nice to meet you, though you might not feel the same way just yet. This here's Rob, Evan, Blake, Tom, Kim, and Rachel along with me.† He gestured around the group as he spoke, and the humans nodded at their names. I noticed one man, a little to the back, whom Nate did not introduce. He had bright, crinkly ginger hair that stood out-especially because he was the tallest in the group. He alone seemed to be unarmed. He was also staring intently at me, so I looked away. â€Å"There's twenty-two of us altogether, though,† Nate continued. Nate held out his hand. Jared took a deep breath and then a step forward. When he moved, the rest of our little group silently exhaled all at once. â€Å"I'm Jared.† He shook Nate's hand, then started to smile. â€Å"This is Melanie, Aaron, Brandt, Ian, and Wanda. There are thirty-seven of us altogether.† When Jared spoke my name, Ian shifted his weight, trying to obscure me completely from the other humans' view. It was only then that I realized I was still in just as much danger as the others would have been in if these had been Seekers. Just like in the beginning. I tried to hold perfectly still. Nate blinked at Jared's revelation, and then his eyes widened. â€Å"Wow. That's the first time I've ever been one-upped on that one.† Now Jared blinked. â€Å"You've found others?† â€Å"There are three other cells separate from ours that we know of. Eleven with Gail, seven with Russell, and eighteen with Max. We keep in touch. Even trade now and then.† Again, the belly laugh. â€Å"Gail's little Ellen decided she wanted to keep company with my Evan here, and Carlos took up with Russell's Cindy. And, of course, everyone needs Burns now and then -† He stopped talking abruptly, glancing uneasily around him, as if he'd said something he shouldn't have. His eyes rested briefly on the tall redhead in the back, who was still staring at me. â€Å"Might as well get that out of the way,† the small dark man at Nate's elbow said. Nate shot a suspicious glance across our little line. â€Å"Okay. Rob's right. Let's get this out there.† He took a deep breath. â€Å"Now, you all just take it easy and hear us out. Calmly, please. This upsets people sometimes.† â€Å"Every time,† the one named Rob muttered. His hand drifted to the holster on his thigh. â€Å"What?† Jared asked in a flat voice. Nate sighed and then gestured to the tall man with the ginger red hair. The man stepped forward, a wry smile on his face. He had freckles, like me, only thousands more. They were scattered so thick across his face that he looked dark skinned, though he was fair. His eyes were dark-navy blue, maybe. â€Å"This here is Burns. Now, he's with us, so don't go crazy. He's my best friend-saved my life a hundred times. He's one of our family, and we don't take kindly to it when people try to kill him.† One of the women slowly pulled her gun out and held it pointed at the ground. The redhead spoke for the first time in a distinctly gentle tenor voice. â€Å"No, it's okay, Nate. See? They've got one of their own.† He pointed straight at me, and Ian tensed. â€Å"Looks like I'm not the only one who's gone native.† Burns grinned at me, then crossed the empty space, the no-man's-land between the two tribes, with his hand stretched out toward me. I stepped out from around Ian, ignoring his muttered warning, abruptly comfortable and sure. I liked the way Burns had phrased it. Gone native. Burns stopped in front of me, lowering his hand a bit to compensate for the considerable difference in our heights. I took his hand-it was hard and callused next to my delicate skin-and shook it. â€Å"Burns Living Flowers,† he introduced himself. My eyes widened at his name. Fire World-how unexpected. â€Å"Wanderer,† I told him. â€Å"It's†¦ extraordinary to meet you, Wanderer. And here I thought I was one of a kind.† â€Å"Not even close,† I said, thinking of Sunny back in the caves. Perhaps we were none of us as rare as we thought. He raised an eyebrow at my answer, intrigued. â€Å"Is that so?† he said. â€Å"Well, maybe there's some hope for this planet, after all.† â€Å"It's a strange world,† I murmured, more to myself than to the other native soul. â€Å"The strangest,† he agreed.

Odysseus As An Epic Hero Essay

In the story of the Odyssey, Odysseus was put through many ordeals through which we see his moral and physical characteristics. After evaluating such characteristics we can see that Odysseus is a great epic hero. We can see that not only is he superior to most mortal men, he also shares many of the same desires, therefore fulfilling all the technical requirements of a â€Å"hero†. Odysseus has insight about his own fate and destiny, but lives intertwined with the Olympic Gods. He also shares many of the same desires as the common man, but has more insight and strength to obtain them. Lastly, the story of Odysseus is tragic, and involves both love and death, which then shows his true strength. When Odysseus ventures out on his journey, he is told by Athena that he is destined to be great, and through the whole war he knows that. When the war is finished he continues his journey home to his wife, his mother and his son. On his journey home he is faced with several obstacles put in place by the Gods to prevent his return. The whole time he was detained from retuning to Ithaca he told himself that he was meant to return home; that it was fated to him. When he was trapped on the Island with Calypso, he told her that he was supposed to return home, and that he would do it no matter what stood in his way. Through these acts we can see that he had his own opinions on his destiny, but that he was closely intertwined with the Olympic Gods. Secondly, Odysseus shares many of the same desires as the common man, but he has more insight and strength on how to obtain them. Odysseus wanted more than anything to return home to his family, however, throughout his journey he was constantly held back by the Gods. He was made to observe horrendous things such as visiting Hades, and shortly after he has to witness each of his crewmates be eaten alive. This would have been enough for the common man to give up hope and settle in on Calypso’s island. Odysseus, however, never gave up and always found the strength and the wisdom to carry on. This shows that if put in the same position, Odysseus would succeed over the common man because he is heroic. Lastly, the story of Odysseus is filled with both love and death, which is a main characteristic of a heroic tale. While Odysseus is trying to return home he sees a vision of his dead mother. She explains to him how she took her own life because she could no longer bare waiting for him. On top of this painful information, she discloses that his home; his palace has been taken over by ruthless men who are trying to steal his wife. After learning of this horrible news he continues on his journey even more determined than before. Shortly after this event, he loses his entire crew to monsters that eat each one alive. He still continues on alone. This proves that even through the tragic events that happen in his long journey he manages to stay strong and make it home. Through close evaluation of all events that took place in The Odyssey we can clearly see that Odysseus is in fact a great epic hero. We see that he has insight about his own fate and desires, he shares many of the same desires as the common man, but has greater insight and strength, and lastly he manages to survive through several tragic evens simply for the love of his family. Taking these events into consideration we can deduce that Odysseus is a great epic hero.

P2 IP1 Essay Example | Topics and Well Written Essays - 1250 words

P2 IP1 - Essay Example Accordingly, the following brief analysis will be concentric upon defining and discussing tell tale hallmarks of the manner through which each of these market structures operates. Firstly, perfect competition will be discussed. Naturally perfect competition only happens in a situation in which numerous difference firms are competing against one another for business. Furthermore, firms in perfect competition in a competitive industry will produce an optimal output at the minimum possible cost for the consumer. Even though this might seem as rather confusing wording, it stands to reason. When one considers the way in which the market and the consumer benefit from a situation in which firms are locked in continual competition, the analogy makes perfect sense. For instance, consider the restaurant market within most locations throughout the United States. Even though this is permeated by many branded entities that engage in competition within a variety of different markets, it is invaria bly made up of many local entrants to the market that are effectively locked in perfect competition with one another; representing a benefit to the consumer in the fact that their output is optimal and their costs are minimized. The ease of entry into such a market is better than any of the other models/structures that will be discussed. Comparatively, a quite dissimilar form of market structure is that the monopoly. The monopoly is obviously a situation in which a firm has no competition within the industry (Elzinga & Mills, 2011). Accordingly, such a structure necessarily reduces the overall level of output that a particular business entity might otherwise be capable of and drive up prices accordingly. As was referenced in the previous model, the overall level of societal good that can be represented within the monopoly is greatly decreased. Furthermore, this particular reality has an economic definition which is defined as deadweight loss. Due to the differential with respect to where the supply and demand curves me, this deadweight loss is a quantifiable economic term that can be presented in numeric form to the individual seeking to understand and define the monopoly. The ease of entry into such a market is all but nonexistent. Another type of market structure that is known to exist is defined as an oligopoly. The oligopoly is an industry with only a few competitive firms. A traditional definition of oligopoly includes a tacit understanding of the fact that an element of collusion is possible. Within such an element of collusive oligopoly, the firms that are â€Å"competing† agree to function as a singular entity as a means to drive up costs and represent a market structure that is similar to a monopoly. However, the situation represents the ultimate prisoners dilemma. The temptation not to cooperate and to undercut the competition by providing a lower price and/or a higher quality product/service to the consumer is enough to ensure that most oligo poly is still compete; albeit at least upon the surface. The ase of entry into such structure can be difficult if not impossible; due to the desire of the existing firms to keep any potential further competition at bay. The final market structure which will be discussed can be defined as monopolistic competition. The monopolistic comp

Revolution Essay Example | Topics and Well Written Essays - 1000 words

Revolution - Essay Example The damage rested in the people's faith that the government could carry out economic policy. Specifically in the context of the government being able to do this without manipulation. During this time a remarkable suggestion of the replacement of adaptive expectations by rational expectations was the "Lucas Critique," This critique illustrated that expectation parameters, and endogenous variable dynamics, depend on policy parameters. (Muth p. 315) The presentation and discussion of this critique is taken into consideration for purposes of this discussion from the vantage point of the issue. The issue for this discussion is the issue of bounded rationality, where for transparency it is modeled to bounded rationality by means of simple adaptive expectations. The examination of this critique will illustrate that for a range of processes, monetary policy remains subject to the Lucas critique. (Cooley p 64) Nonetheless, "there are also regimes in which the expectation The adaptive expectations hypothesis was introduced by Cagan (1956) and Friedman (1957) as a plausible and empirically meaningful approach to modeling expectations of future variables in a world of uncertainty. "Their apparent empirical success led to widespread utilization of the adaptive expectations hypothesis before it was ultimately swept away by the rational expectation revolution, initiated by Muth (1961) and advanced by Lucas (1976) and Sargent and Wallace (1975). Rational expectations has the great advantage of providing optimal expectations; under the standard of optimality, adaptive expectations suffers by comparison and should be rejected. (Cooley 1973) One of the most salient implications of rational expectations is the critique of traditional policy making presented in Lucas (1976). The traditional theory of economic policy is characterized as treating the time series process followed by the economy as fixed and invariant with respect to exogenous changes in policy. Under rational expectations, however, the forecast or expectation (Muth 1973) rule will be affected by policy changes and, if the economy is in turn affected by expectations, these will alter the time series process followed by the economy. Lucas provided examples of this phenomenon based on prominent macroeconomic models. Our objective here is to reconsider the Lucas critique in the context of adaptive expectations. The starting point of our argument is Muth (1960). In that paper Muth showed that adaptive expectations, with an appropriate adaptation parameter, are fully rational if the variable being forecasted follows an exogenous IMA(1,1) stochastic process, i.e. if the first difference of the variable is a first-order moving average process. Rational expectations, however, assumes that the true process generating the data is known, an assumption that many feel to be implausibly strong. Recently Evans and Honkapohja (1993, 2001) and Sargent (1999) have argued that adaptive expectations may be a reasonable, if not fully rational, forecast method when the true process is unknown. Economic Structure: We consider a simple macroeconomic model, inspired by Lucas (1973) and Fischer (1977), in which aggregate output is affected by unanticipated price level changes. Let aggregate supply be specified as follows: qt = (pt pe t ), (1) where qt and pt

Women Are Confident In Their Decision To Be Single Research Paper

Women Are Confident In Their Decision To Be Single - Research Paper Example By 2009, women were â€Å"on the verge of outnumbering men in the workforce for the first time, a historic reversal caused by long term changes of women’s roles and massive job losses for men during this recession...At the current pace, women will become the majority of workers during October or November† (Cauchon, 2009). Labour economist Heidi Hartman, President for Women’s Institute of Policy Research, says, â€Å"It was a long historical slog to get to this point† (ibid.). Consequently, it has become evident that not only are women now able to support themselves but in quite a few families they have become either the main—or the sole—breadwinner. The majority of them are certainly not going to come home and give their husbands their earnings, nor are they going to keep on accepting the husband’s adultery because they have no choice. Women with a half decent education and a good steady job had slowly begun to realize since the mid-19 90s that they did, in fact, have choices. According to Petula Dvorak (2010), â€Å"It continues to be a man’s world, only a little more comfy these days... women in America are just about to make up the majority of the workforce, are dominating universities and, in ever-increasing numbers are the better-educated and handsomely paid half in American marriages† (ibid.). Women now know without a doubt that they do not need husbands to support them. They can, obviously, make financial decisions and they do expect, much to the chagrin of many men, their significant other to do more work around the house.

Prevailing Legal Theory within the United States Today Research Paper

Prevailing Legal Theory within the United States Today - Research Paper Example These are examples of many different legal theories, but represent the prevailing views of United States Law. Introduction There is no single prevalent legal theory for the United States, however, this study considers that three common legal theories, Legal Realism, Natural Law and Feminist Theory together provide a strong description of the prevailing legal theory that is present in the United States today. Legal theory involves the use of contributions from a wide number of sources including the law itself, but also literature and discussions from a wide range of academic disciplines, including sociology, economics, philosophy and political science . Laws are established and enforced by ruling authority in the area. Within the United States, the Constitution is the document from which any new laws, amendments or statutes must be made and these must stand in agreement with the constitution. Alterations can be made to the constitution by the process of proposing amendments, which are then voted on by congress, and must meet with at least two-thirds approval from both houses of Congress in order to become part of the law. An amendment must then be ratified by three quarters of legislates of the states in order to become part of the constitution . ... Modern jurisprudence mainly focuses on the principles of the laws that are in practice, while legal theorists examine the problems that are present in legal systems and social institutions , including theories of Legal Realism, Natural Law and Feminist Theory which will be discussed in detail within the following sections. Legal Realism Legal Realism is a theory that takes into account that the law is a construct that was developed by humans, who in their very nature are imperfect, and thus as a consequence, the law is subject to misinterpretation, is often not clear, and contains imperfections and frailties. A part of this theory is the indeterminacy of law. This theory suggests that when legal cases and disputes are solved the law is not the only factor which is relevant. Instead, factors such as personal opinions of the judge or jury, the moods of those present and other factors that do not directly pertain to the law have a direct effect on the outcome . For example, a judge my g ive one individual a lenient sentence because they are in a good mood and sympathize with the individual, while giving a harsher sentence for the same crime to another individual at a different time, despite both being equal under the law. The theory of Legal Realism is interdisciplinary in nature, with many who are interested in this theory also having interest in anthropological and sociological approaches to the law. The theory also presents beliefs concerning legal instrumentation, which suggests the use of the law a tool in order to bring about equitability in society and for social uses. It is important that the study of law is linked to the outcomes of particular cases that go through the courts,

Personal Consulting Capacity Essay Example | Topics and Well Written Essays - 2250 words

Personal Consulting Capacity - Essay Example The researcher states that planning for future is very important as it defines our mindset. By setting goals we plan for our future. Goals can be defined as: basically tools that give scope to an activity and direct achievement-related behaviors. Goals can be prioritized to short-term and long-term goals. Short-term goals heighten the chances of success as they may be challenging but are quite close to the current capacity level of a person. However, it is the long-term goals that are required to achieve permanent success in future endeavors. The researcher splits his future objectives into two categories i.e. Short-term and Long-term goals. Short-term goals include the skills he would acquire by the end of this year while long-term goals are elaborate planning of the next five years of his professional life. Short term goals: to accomplish the researcher’s degree with good grade points and to enhance skill based expertise relevant to his field before gaining entry into a repu ted public sector organization. His key focus would be on the consulting capabilities so as to give a wider scope to his objectives. Long term goals: in a span of five years the researcher plans to elevate himself to the managerial level. He also wants to gain comprehensive growth by lending his consultancy skills to the company in order to solve the core problems. In future the author of this paper would also like to pursue his career as a Human Resource Consultant.... Short-term goals include the skills I would acquire by the end of this year while long-term goals are elaborate planning of the next five years of my professional life. SHORT TERM GOALS To accomplish my degree with good grade points and to enhance skill based expertise relevant to my field before gaining entry into a reputed public sector organization. My key focus would be on my consulting capabilities so as to give a wider scope to my objectives. LONG TERM GOALS In a span of five years I plan to elevate myself to the managerial level. I also want to gain comprehensive growth by lending my consultancy skills to the company in order to solve the core problems. In future I would also like to pursue my career as a Human Resource Consultant. ACHIEVING GOALS A step wise planning is required to achieve my goals. I need to determine the factors and the barriers which are going to influence my action plan. As I plan to enter a public sector organization therefore, my core focus would be on gaining skills that are relevant to the field. SECTOR IN FOCUS: PUBLIC SECTOR ORGANIZATIONS After the accomplishment of my professional degree I am keen to join a public sector organization as it offers a wide range of careers as well as provided the opportunity to make decisions with the potential to have immediate impact on the wellbeing of citizens. Moreover, public sector organizations are considered to be stable and secure as compared to private sector. Another positive aspect is regular coaching and mentoring and comprehensive trainings being offered time to time. Public sector organizations have clear policies and procedures that must be adhered to by all levels. FUNCTIONAL AREA IN FOCUS: HUMAN RESOURCE MANAGEment Human resource management being the area of my

Individual Sales Activities Paper and Flowchart Essay

Individual Sales Activities Paper and Flowchart - Essay Example Business to business sales mainly involves sales between two different organizations and there are different strategies such as online marketing that can be used during the current period (Kotler & Armstrong, 2004). There are various selling activities that are involved in business to business sales process as shown in the flow-chart below. Info negotiate info money info Info influence info goods info Figure 1 A model for e-commerce: B2B Source: Cloete, E 2004, E-Commerce: A contemporary view, Pardus Publication, CT. As shown in the diagram above, there is a seller and a buyer and there are different process involved when they try to exchange goods or services for money. The selling activities of the seller are shown on top of the diagram. The first activity is related to arrangment of information. The seller ought to arrange the information such that they are fully aware of what their intentions are and how they will execute the. The seller needs to find information about the custom er. The second activity that is involved in B2B is related to finding the customer. The seller has an obligation of finding the customer so that they can negotiate if a sales deal can be reached. Before a sales deal is conducted between two businesses, negotiation takes place. The seller approaches the buyer and they try to influence them to buy the goods or services offered. On the other hand, the buyer would need to agree on the terms and conditions upon which the deal can be conducted. The third sales activity in a business to business sales is concerned with arranging the terms. The seller arranges the terms upon which the sales can be conducted. These terms ought to be agreed between the two parties involved. These terms may include payment terms as well as conditions for delivery of the goods and services once the transactions have been conducted. Such a sales type cannot be fast tracked since it is supposed to go through different stages. The deal may not succedd when there i s no agreement. The fourth activity in a B2B sales is related to fulfilment of the order. When an agreement has been reached and the sale conducted, the seller would need to fulfil the deal. It becomes thr duty of the seller to make sure that the products or services purchased are delivered to the customer. Unless the deal has been reversed by both parties, it can be observed that the seller would need to fulfil the promise nomatter what. The final activity in the B2B sales is support. The seller needs to support the customer so that they can return for repeat business. This helps to create mutual understanding between the two parties involved and this can significantly contribute to the growth of business. Customer loyalty is likley to be promoted if the seller contibues to offer support to them. However, business to business sales differ from business to customer sales in different ways. The main difference is that B2B sales are formalised since they involved business between two organizations while B2C sales can be conducted in an informal way since they involve an organization and a customer (Cloete, 2001). A lot of logistics are involved in B2B sales as well as activities that require the input of several people. On the other hand, it can be noted that B2C sales can be conducted in an informal way and they are flexible since they do not involve a lot of activities. a sales person

Composing self Essay Example | Topics and Well Written Essays - 750 words

Composing self - Essay Example Though this was quite satisfying at the moment, I was still quite curious why one can take so much of the proteins yet their body size remain to be small. The belief must have been fallacious or there must have been other aspects I did not understand. I started changing my perception to the belief on realizing that despite the fact that we were served the same food at home, my younger brother tended to grow quite faster and surpass me body wise. Having no explanation to this and with my lame background in biology I had to partly believe in my fallacious reasoning with the people I sought information from not giving me a comprehensive version that I could adopt. However, as my background in biology became firm I realized that growth is in fact a very complex process. The process as I learnt starts with the introduction of food into the alimentary canal through the mouth. This food, take for instance meat is broken down to small units called amino acids. These are the building blocks for the mass of flesh that we eat. The next process involves the use of those amino acids to repair the injured body parts as well as ensuring growth occurs. Since a person is made up of microscopic units called cells the amino acids take part in the replication of those cells with the increase in number leading to the increase in body size. I changed my earlier thinking after researching on the issue and engaging more people who were informed to help in demystifying the mystery. Beliefs being part of the knowledge we have can be misleading or based on fallacy. In my case, the belief was based on assumption and so with time I embraced a better approach that can be used to get the correct facts. This being just one of the beliefs I had I my early age I have realized that to get the correct facts, one has to engage various sources or else you may end up holding strongly on the wrong ideals. The only way to explain my earlier belief is through the

Employment Law in Japan Essay Example | Topics and Well Written Essays - 1000 words

Employment Law in Japan - Essay Example Most of the day- to- day labor issues in businesses is under the Labor Standards Law. Under the labor and employment law in Japan issues such as sanitation and safety have been covered (Takaya et al, 2009). Besides, the law gives the employer discretion and freedom in hiring, but disallows discrimination against and applicants or employees. Also, it has a provision requiring the employer to terminate employment of an employee on reasonable and objective grounds only. Matanle argues that it also provides for employment work and contract rules such as place of employment, working hours, and wages among others. Moreover, it has a provision that requires that all employees in Japan should be entitled to join pension insurance schemes and social health insurance, as well as providing for unemployment and accident insurance. So, how was employment law selected and adopted into the legislation of Japan? Labor Standards Law, which is Japan’s main employment legislation was enacted for the first time in 1947 and has been amended several times since then. The basics of this law are established in the Japanese Constitution, which derives most of its provisions from the United States Constitution (Milhaupt et al, 2001). That is why the Japanese employment bears a lot of similarities with the United States’ employment law. Employment law adopted into the legislation of Japan has three major categories, namely; labor relations, trade unions, and labor standards. Article 623 of the Japanese Civil Code recognizes employment contract. In regard to the origin of Japanese employment, it is important to remember that this law derives a lot from the United States Constitution. It is worth to note also that prior to the end Second World War, the Japanese employment law had not sufficiently developed; there were a few laws that regulated labor relations such as determination of number of working hours, minimum safety standards, and protecting minor laborers (Tsuneki and Matsunaka, 2011). The Japanese employment law as it is now can trace its origin after the Second World War where the Allied High Command promoted workers’

One of the major characteristics that Beowulf and Hamlet Essay Example for Free

One of the major characteristics that Beowulf and Hamlet Essay One of the major characteristics that Beowulf and Hamlet share is the fact that they both rid Denmark of a treacherous monster who poses a serious threat to the land. Beowulf uses his warrior-like skills to fight and conquer a physical monster who literally haunts the swamps outside the state and plagues it with murderous acts. Hamlet’s monster is also one who commits murderous acts, though this is in the form of his uncle Claudius who kills the King (Hamlet’s father) and usurps the Danish throne. The two men, Hamlet and Beowulf, are thrown into these battles as youth, and both take on the challenge willingly. In fact, Beowulf travels from Geatland specifically to meet the challenge of fighting Grendel. Hamlet too takes it upon himself to kill Claudius as soon as he finds out that this man has been the agent of his father’s death. Another characteristic that both Hamlet and Beowulf share is their death and the method in which this occurs. Both are defeated in their final efforts at ridding their homelands of the evil that had infiltrated. In fact, both die though their efforts are successful. Beowulf dies at the hand of the final monster (the dragon) whom he succeeds in slaying, but who also deals Beowulf a deathly blow that eventually kills him. Hamlet also has a similar experience in that, while he is able to slay Claudius by the end of the play, he is caught with a poisoned sword and eventually expires after all his enemies have died. The two characters die by peripheral (yet fatal) blows given them during the melee. Both show bravery by continuing to fight even while they are mortally wounded. Eventually, both succumb to the serious wounds they have acquired, yet they die in the victory of knowing they have defeated their enemies. Beowulf and Hamlet also differ in many ways, one of which is the character that they show throughout the play. While Beowulf displays a warrior-like character, Hamlet shows himself to be fearful and awkward in acting out the desires of his heart. Beowulf is eager to come to the aid of the King of Denmark, and he pauses only to partake of the feast given in his honor before he sets out to kill Grendel. When he encounters the monster, he loses no time in indecision but immediately performs the actions necessary to kill the beast. In fact, Beowulf fights three ferocious beasts throughout the story with the same vivacity and fierceness. Hamlet differs from Beowulf in his character, and he displays the tendency to employ a much more subdued and stealthy course of action. Though he too determines to defend the honor of Denmark’s (former) king by killing his murderer, he demonstrates a greater portion of dalliance and indecision than does Beowulf. When he gets his first chance to kill Claudius, his idle thoughts concerning the condition of Claudius’ heart (while praying) leads him to forfeit that chance and allow Claudius to live. He fails in his pursuits far more than Beowulf does too, because in his second attempt to kill Claudius, he ends up killing Polonius instead. In these ways, Hamlet shows himself to lack self confidence in a manner that is vastly different from Beowulf the ready warrior. Beowulf and Hamlet show differences in the tenure of their lives and the fulfilment of their royal destinies. Hamlet, unlike Beowulf, fails to ascend to the throne to which he is heir. He dies before the throne falls vacant and also fails to prove King Claudius a usurper in any effort to gain his rightful place on the throne. Beowulf, on the other hand, is able to spend fifty years as ruler of his Geat kingdom. In addition to this, Beowulf differs from Hamlet in his ability to live out his live and to attain old age. He is able to demonstrate his strength as a ruler for many years and to gain the respect of his subjects. Hamlet, who dies young, is unable to do any of this. He is never able to command the subjects over whom he was destined to rule precisely because of the fact that his life ends tragically in his youth. Therefore, while both men perform in the role of princes during their youth, Beowulf becomes promoted to the level of king while Hamlet dies with all his potential. Works Cited Beowulf. The Harvard Classics, Volume 49. Frances B. Grummere (Trans. ) 1910. P. F. Collier Son, 1993. Shakespeare, William. Hamlet. London: Penguin, 1994.

Geography Essays Tourism and Globalisation in Prague

Geography Essays Tourism and Globalisation in Prague The economic impact of tourism and globalisation in Prague. ‘Tourism’ is the all-encompassing term for the movement of people to destinations away from their place of residence for any reason other than following an occupation. The World Tourism Organisation, a United Nations body, defines a tourist as â€Å"someone who travels at least eighty kilometres (fifty miles) from home for the purpose of recreation† (Frangialli, 2001) Individuals and communities around the globe are more connected to each other than ever before. Information and money are rapidly transmitted intra- and internationally, goods and services produced in one part of the world are increasingly available universally, and international travel and communication is routine. Advancing technology and leaps of progress in engineering have effectively resulted in a minimised world. Depending on political standpoint, this increasingly interconnected global marketplace either represents an enormous achievement for mankind, or a potentially devastating progression into the twenty-first century. Meetings of bodies such as G8, the International Monetary Fund and the World Bank often generate large demonstrations, as witnessed in Prague in September, 2000, organised by Prague-based International Campaign against Globalization. Tourism comprises around 5 per cent of the world’s GDP (gross domestic product), and over 200 hundred million people are employed in some form of travel and tourism worldwide (Frangialli, 2001). International tourism is a major export; indeed, in over 150 countries, representing eighty percent of nations worldwide, tourism is one of the five top export earners. In more than sixty countries, tourism is the number one export, and in the Czech Republic tourism accounts for 7 per cent of overall exports and over 40 per cent of service exports (Eyal, 2003). With nationals of 45 countries spending an average of 1 billion euros annually while travelling abroad, including Germans who spend over 50 billion euros and the Dutch who expend almost 14 billion euros, inbound and domestic tourism is increasingly viewed as a reliable and predominant means of national development. Historical background Inhabitants of the Vltava valley are first mentioned in historical documents in 500BC, following the arrival of an unnamed Celtic tribe to the area. One thousand years later, the first Slavonic tribe is referenced as settling in Bohemia. Two of the most spectacular structures have played important roles in the history of Prague: ninth-century Prague Castle, built by Prince Borivoj, and the tenth-century fortress Vysehrad, built on the rock upon the right bank of the river Vltava. Both fortresses became essential for Czech rulers throughout history; Prince Wenceslas, for example, murdered in 935AD and later canonised, valued both strongholds (Eyal, 2003). Prague, capital city of the Czech Republik, is an intricate municipality of historical monuments depicting many artistic styles. The historical centre of Prague is situated on both banks of the river Vltava, and consists of 6 ‘quarters’, once independent cities and merged during the eighteenth century.   Many museums, galleries, and historical buildings still exist in superb condition, and, in 1992, in recognition of this, Prague’s historical centre was added to the World Heritage Sites register of UNESCO (Eyal, 2003). Despite the protracted hegemony of the Austrian empire, which had instigated the decline of the Czech culture and language, the reign of Empress Maria Teresa, during the eighteenth century, allowed the Czech Republik to rediscover its history, language and ethnicity. This flourish of Czech national pride continued until Czech independence in 1918, and was responsible for the construction of many extravagant public buildings and the restoration of old traditions. Prague has continually proven itself as a valuable tourist location, and has attracted many prominent personalities throughout the centuries; among them Mozart, von Beethoven, Queen Elisabeth II, and Pope John Paul II. Economic impact of tourism One of the most significant forces for change in the world today, tourism is now regarded by many as the worlds largest industry. It prompts regular mass migrations of people, processes of development, exploitation of resources, and inevitable repercussions on places, economies, societies and environments (Williams, 1999). Many factors have encouraged the development of both domestic and international forms of tourism, and they exert differing economic, environmental and socio-cultural impacts upon destinations. Both as an industry and as a social phenomenon, tourism can be responsible for a renowned speed and scale of change to a location. But at the dawn of the twenty-first century, the challenges of change can seem more daunting than ever before, especially evident in terms of globalisation, the IT revolution, the democratic challenge, and the new consumer (Shlevkov, 2004). Globalisation (as discussed later) represents the intensification of relationships between locations, increasingly shaping the phenomenon in addition to being shaped by it. It denotes the expansion of competition in the tourism industry, as both the reach of transnational capital and the tourists ‘imagined’ world are effectively ‘globalised’. Although the demise of mass tourism is greatly exaggerated, consumers have become increasingly differentiated, and this has severely influenced the tourist map, with few places escaping the increasingly conflicting demands of diverse groups of tourists (Frangialli, 2001). Similarly, the IT revolution is partially responsible for, and facilitates, globalisation, and promises to transform the productivity of tourism capital, challenging the meaning of tourism itself. Nations are now faced with the task of constructing new democratic models which can both regulate and allow commitment to the challenges and opportunities of an increasingly globalised, technology-driven and discriminating world in which the tourist is king. This has led to a growing interest in models of participatory democracy that, in the realm of tourism, has been especially evident in the debate regarding the construction of effective and impartial partnerships in the pursuit of sustainable tourism (Frangialli, 2001). An example of a typical response to these challenges, in 1998, the Royal Geographical Society established the Limited Life Working Party on the Geography of British Tourism. Its remit was to review the current state of British tourism, and to determine a research agenda for the challenges of a changing tourist industry. The work of this group was surrounded five working papers on production, consumption, localities, the environment and public policy (GLTRG, 2000), and while neither exclusive nor comprehensive, the papers provided an organisational framework for addressing both the substantive and methodological challenges facing tourism (Eyal, 2003). First publicly presented at a conference at the University of Exeter in September 1999, the papers resulted in revealing discussions which indicated that the organisational framework discussed possessed a resonance beyond the national arena. It is envisaged by many institutions that these research papers will contribute to the shared eff orts of international scholars to engage with and understand the increasingly complex and rapidly changing world of tourism. Prague is an increasingly popular tourist destination and is already viewed as an abundant location for amateur property developers. The popularity has reaped the Czech Republic rich rewards over the past decade; earnings from tourism have risen steadily since 1989, topping USD 3.7 billion in 1998, equivalent to six percent of the countrys GDP (Shlevkov, 2004). This figure, however, does not begin to reflect the sectors true significance for the Czech economy. Following Skoda cars and beer, tourism is one of the countrys leading exports, accounting for 12.8 percent of all foreign currency earnings. In addition, foreign employers and tourist industries are currently providing jobs for an estimated ten percent of the national labour force. Income from tourism has almost quadrupled over the past six years, more than balancing the outflow of capital that has accompanied the increasing number of Czechs spending their vacations abroad. Following the Velvet Revolution of November and Decemb er 1989, industrial exports plummeted and collapsed. Tourism, however, accommodated the excess, providing new jobs and incomes to the otherwise unemployed masses. Indeed, the positive balance from tourism maintained stable, even profitable, accounts during the first half of the 1990s. Considered one of the most stable and prosperous post-Communist states, the Czech Republik has been recovering from recession since mid-1999. Growth in 2000-2001 was led by exports to the EU, especially Germany, and foreign investment, while domestic demand is reviving. Tourism has played a critical role in the Czech Republik’s economic stability, and Prague’s magnetism to visitors and investors alike has been crucial. Tourism in the Czech Republic is overpoweringly focused on the Golden City, and an estimated 70 percent of all foreign visitors stay in the capitol, Prague (Frangialli, 2001). But the capitols success in attracting visitors is overwhelming the city. The panorama from Charles Bridge is still breathtakingly beautiful, but these vistas are now suffocated amidst the hordes of tourists. ‘Real life’, the Eastern European culture which attracts so many tourists in the first place, is gradually being edged out by boutiques and pizza franchises. High streets now resemble American society and have lost the historical European charm that made them so appealing. The concentration on Prague is ironic considering the plethora of assets the rest of the country has to offer. A handful of places, such as ÄÅ'esky Krumlov, Karlovy Vary and Kutna Hora, have established themselves in tourist guides as worthy locations to visit outside of Prague, but the average tourist is oblivious to the castles, chateaux, monasteries and churches that speckle the Czech countryside. The hundreds of wine cellars that litter southern Moravia and the picturesque towns of southern Bohemia are virtually ignored. While wealthy Prague is stifled with tourists, the areas away from the capitol could most benefit from hosting visitors. Tourism can be particularly effective for regional development. It is relatively labour-intensive and involves predominantly small to medium-sized enterprises, employing ten to twenty-five employees, that can respond flexibly to market demands. It also generates a wide number of valuable indirect benefits for local communities, including opportunities for recreation and culture, investments in infrastructure and even a strengthened sense of local identity and pride (Shlevkov, 2004). Reaping these benefits has been frustrated so far by the inadequate tourist infrastructure and poor promotion of most areas outside of Prague. With regard to food and accommodation, the problem is not so much one of quantity as the number of beds and eateries away from Prague is generally sufficient. Quality, however, is generally considered, by visitors, as derisory, with most inns, hotels and restaurants simply not meeting basic Western standards. In an increasingly discriminating tourist world, where c ompetition and quality is generally high, non-capitol locations are principally being overlooked by the veritable goldmine that is the tourist world. Until recently, most regions have had to rely more or less on their own initiatives for self-promotion to potential foreign visitors. The majority have fared badly, and the overall result has been cacophony rather than clear and precise communication (Frangialli, 2001). For much of the past decade, tourism development in the Czech Republic has been more or less robotic and self-regulated. Under the mantra of purported market liberalism, the government pursued a hands-off policy between 1992 and 1997, during the five years that former Prime Minister Vaclav Klaus was in power (Eyal, 2003). During this period, the equable and stable increase in tourists and revenues did not inspire any reconsideration of this approach. The first suggestion that a more directed methodology to tourism might be appropriate occurred concurrently as the government realised that its laissez-faire approach was dividing the country into distinct ‘haves’ and ‘have-nots’. The Ministry for was established in 1996 to address the growing imbalance between affluent areas, like Prague, and the many struggling rural backwaters, such as Ostrava. Subsequently, responsibility for overseeing and developing tourism was transferred from the Ministry for Trade and I ndustry to the new Ministry of Local and Regional Development (Eyal, 2003). Despite this vague appreciation and recognition that tourism could be an instrument for regional development, the governments dedication has remained limited. In contrast to other countries with substantial and respectable tourist industries, which regularly plough percentages of their tourist profits into further development of the sector, investment by the Czech Republik in tourism development over the past decade has been miniscule. In 1997, for example, an estimated 0.6 percent of GDP from tourism was reinvested into the industry, and as a result, the infrastructure of tourism is suffering.   Within the Ministry for Local and Regional Development, for example, only a handful of staff, most in support functions, oversee and coordinate the development of one of the most significant sectors of the Czech economy. This is considered completely insufficient to organise the complex coordination of tourist service providers, carriers, local and regional authorities, state agencies, non -profit factions, and so on, involved in tourism in the country (Shlevkov, 2004). The majority of the departments budget is consumed by the Czech Tourism Authority, whose employees and representatives around the world, numbering approximately 70, are charged with promoting the country, domestically and internationally. However, without adequate funding, the tourist authority is unable to retain its most capable employees, and, to date, has achieved little of merit. The organizations unattractive Internet pages and stuffy brochures seem designed to dissuade potential visitors rather than entice them to the country. The Czech Tourism Authority has recently launched a new initiative specifically designed to promote the different regions around the Czech Republic; despite good intentions, however, this essentially ineffective given the weak promotion for the country as a whole and the highly insufficient economic and personnel support for such an enterprise. The Czech Republik remains practically exotic to most nations, even now shrouded in mystery and chiefly unfamiliar to the average tourist. Marketing regions is, therefore, see n as a waste of precious resources and manpower useless – without a deliberate, organised and powerful holistic promotion of the country as a whole, the reputation of Czech Republik within the world of tourism will remain an eclectic and bizarre mixture of castles and beer. Globalisation Depending upon the individual’s political, or apolitical, viewpoint, ‘globalisation’ is many things to many people. Many see it as a primarily economic phenomenon, involving the increasing interaction, or integration, of national economic systems through the growth in international trade, investment and capital flows. However, it is possible to also point to a rapid increase in cross-border socio-cultural and technological exchange as part of the phenomenon, and to understand the trend in terms broader than purely economical. Sociologist, Anthony Giddens, for example, defines globalisation as a â€Å"decoupling of space and time† (Friedman, 2005), emphasising that with virtually instantaneous communications and impressive technological advances, knowledge and culture can be shared around the world simultaneously. The Era of Globalization is rapidly becoming the preferred term for describing the current period in history. Just as the Depression , the Cold War Era, the Space Age, and the Roaring 20s are used to describe particular periods of history; globalization describes the political, economic, and cultural atmosphere of today (Wolf, 2004).   While some people think of globalisation as primarily a synonym for global business, or economy, it is much more than that. The same forces that allow businesses to operate as if national borders did not exist also allow social activists, labour organizers, journalists, academics, and many others to work on a global stage, and subsequently, have encouraged the development of the tourist industry. With the average citizen of most developed nations able to travel, transatlantic or transpacific, within the duration of a single day, the majority of consumers are visiting and experiencing cultures and ethnicities unattainable to previous generations. In addition, with technological breakthroughs, virtual tourism is on the increase, with more and more potential tourists initially †˜visiting’ a country via their computer, thereby encouraging the actual physical travel itself. Globalisation is a modern term used to describe changes in societies and the world economy that result from dramatically increased international trade and cultural exchange, describing the increase of trade and investing due to the falling of barriers and the interdependence of countries. In specifically economic contexts, it is often understood to refer almost exclusively to the effects of trade; particularly trade liberalisation or free trade (reference). Between 1910 and 1950, a series of political and economic upheavals dramatically reduced the volume and importance of international trade flows. However, globalization trends reversed following the creation and establishment of the Bretton Woods institutions, the International Monetary Fund (IMF) and the General Agreement on Tariffs and Trade (GATT) (WCSDG, 2004). In the post-World War II environment, nurtured by global economic institutions and rebuilding programs, international trade dramatically expanded. During the 1970s, the effects of this trade became increasingly visible, both in terms of the benefits and the disruptive effects. Although all three aspects are closely interconnected, it is useful to distinguish economic, political and cultural aspects of globalization. In addition, it is important to recognise the key aspect of technological advances, particularly with regard to transportation and communications, which, it is claimed, are responsible for the modern phenomenon of the ‘global village’. Since the word has both technical and political meanings, different groups will have differing histories of the globalisation phenomenon. In general use, within the field of economics and political economy, however, it is a history of increasing trade between nations based on stable institutions that allow firms in different nations to exchange goods with minimal friction. During the inception of globalisation as we understand it today, the term liberalisation came to represent the combination of laissez-faire economic theory with the removal of barriers to the movement of goods. This resulted in the increasing specialisation of nations in exports, and the pressure to end protective tariffs and other barriers to trade. The period of the gold standard and liberalisation of the 19th century is often, therefore, termed The First Era of Globalisation (Wolf, 2004). In essence, it was argued that, with widespread acceptance of liberalisation, nations would trade effectively, and that any temporary disruptions in supply or demand would correct themselves automatically. The institution of the gold standard appeared in phases in major industrialized nations between approximately 1850 and 1880 (Ralston Saul, 2004), though exactly when various nations were truly on the gold standard remains a matter of contentious debate. It is understood that the First Era of Globalisation began to undergo its initial disintegration as a result of the First World War, and subsequently collapsed entirely with the crisis of the gold standard in the late 1920s and early 1930s. However, countries that engaged in that era of globalisation, including the European core, some of the European periphery and various European offshoots in the Americas and Oceania, prospered. Inequality between those states fell, as goods, capital and labour flowed remarkably freely between nations. Globalisation in the years following World War II has been driven by Trade Negotiation Rounds, originally under the auspices of GATT, which led to a series of agreements to remove restrictions on free trade (Wolf, 2004). The Uruguay round led to a treaty to create the World Trade Organization (WTO), in an attempt to effectively mediate trade disputes. Other bilateral trade agreements, including sections of Europes Maastricht Treaty and the North Ameri can Free Trade Agreement have also been signed in pursuit of the goal of reducing tariffs and barriers to trade (WCSDG, 2004). Despite the surface appearance of remarkable international economic successes as a result of globalisation, not all nations and groups are convinced that globalisation is, indeed, of benefit to their country in particular, or the world stage as a whole. In September, 2000, this was particularly evident in the Czech Republik. Some 20,000 representatives of global capital, predominantly world bankers, economists and financiers, visited Prague to attend the 55th annual summit of the International Monetary Fund and the World Bank Group. This prestigious meeting of the world economic elite, the first of its kind in the Central and Eastern Europe, was considered to be of great importance. The delegates intended to meet to propose a scheme of further liberalisation of the world economy by defining new loan priorities and structural adjustment conditions. However, events in Seattle at the WTO meeting, November 1999, indicated that a significant wave of global resistance was rising against th e expanding power of global capital. The IMF/WB summit in Prague provided adequate opportunity for anti-globalisation movements to express their demands for what they perceived as ‘global justice’. The Initiative against Economic Globalization (INPEG) is a loose coalition of various Czech environmental, human rights and autonomist/anarchist groups, organizations and individuals who critically oppose the professed world financial oligarchy, and they had planned a series of campaigns that would culminate in ten days of activities during the IMF delegation in Prague. Claiming that transnational economic corporations and organisations deliberately promote globalisation as a means of maximising private profits, anti-globalisation factions routinely argue that pro-globalisation lobbyists and institutions maliciously restrict the â€Å"power of people to protect the environment, determine their economic destiny, and safeguard their human rights† (Stiglitz, 2002). Furthermore, groups such as INPEG assert that world economic organisations are also directly responsible for Third World debt, and that their debt relief policies continue under the harsh conditions of the IMF Structur al Adjustment Programmes, and thus resulting in an impossible economic situation for developing nations. With particular regard to the Czech Republik, anti-globalisation organisations endeavour to highlight what they considered to be the debilitating effects of globalisation policies on Central and Eastern Europe, demanding an immediate suspension of these practices leading to environmental destruction, growing social inequality and poverty and curtailing of people’s rights (Stiglitz, 2002). However, despite the vocal outrage of such anti-globalisation factions, the world increasingly shares problems and challenges that do not obey nation state borders, most notably pollution of the natural environment, and as such the movement previously depicted as the anti-globalisation movement has metamorphosed into a ‘movement of movements’ for globalization from below; seeking, through experimentation, forms of social organisation that transcend the nation state and representative democracy (Wolf, 2004). So, whereas the original arguments of anti-global critique can be refuted with stories of internationalisation, the emergence of a global movement is indisputable and, therefore, it is possible to speak of a real process towards a global human society. Future projectionsIn 1998, an international cooperative research network was organised, by Volker Bornschier and Christopher Chase-Dunn, for the Fourteenth World Congress of Sociology in Montreal, Canada. This network attempts, theoretically and empirically, to determine the multitude of dimensions relating to globalisation, particularly economic, political, common ecological constraints, cultural values and institutions, and the globalisation of communication (WCSDG, 2004). The first results of this coordinated research were introduced at two sessions at the World Congress of Sociology in Montreal. While the earlier popular discourse on globalisation seemed to suggest, at least implicitly, that globalisation and world economic growth occur in tandem, a more stringent analysis revealed that the various aspects of globalisation became accentuated in the phase of long term sluggish economic growth when compared with long-term economic upswings. It became evident that, despite the remar kable economic growth experienced by several countries during the 1980s and 1990s, overall polarisation in the world did not shrink but actually increased in the latest era of globalisation. Adjectives such as uneven and limits have increasingly appeared in the titles of academic works on globalization, not only reflecting a critical perspective, but also the obvious need for theoretical clarity and empirical research. To assist with the research conducted by Bornschier et al, researchers from three continents were recruited to examine the diverse phenomena of globalisation, and determine the sustainability of developments and the design of new institutions in order to shape a less polarized and more peaceful social world (Ralston Saul, 2004). Considering the future of globalization, conceived as processes promoting international interconnectedness, contemporary globalisation is not entirely unusual when compared to past episodes, such as that experienced between 1850 and 1914. During that period, there was rapid growth in trade, capital flows and migration comparable to, or greater than, today (Hirst and Thompson, 2002). There was also a policy backlash and the widespread adoption of protectionist policies. In addition, contemporary globalisation processes are not, in evidence, undermining national economies; on the contrary, the major states are reinforced in their role of international actors (Friedman, 2005). However, it is widely accepted that both the global economy and national governments will face crucial challenges during this century, the chief of which is climate change. Such changes will tend to foster conflict and thus reinforce the role of the state, but in a context where supremacy at every level will be ha rder to achieve. Evidence about the effects of borders and the limits to trade expansion have been presented by a plethora of research groups, and the overwhelming agreement is that data indicate that we could be close to the limits of feasible globalisation (Ralston Saul, 2004). The World Tourism Organization forecasts that international tourism will continue growing at the average annual rate of 4 percent (WTO, 2001) (http://www.world-tourism.org/market_research/facts/market_trends.htm). By 2020, as forecast, Europe will remain the most popular destination for tourists, but its share will drop from 60 percent in 1995 to 46 percent. It is expected that long-haul will expand slightly faster than intraregional travel, and, by 2020, its share of international tourism will increase from 18 percent in 1995 to 24 percent. Moves to complete banking, telecommunications, and energy privatisation will add to foreign investment, while intensified restructuring among large enterprises and banks and improvements in the financial sector should strengthen output growth. Gradual technological improvements are likely to make air-ship hotels possible, based either on solar-powered airplanes or large dirigibles (WTO, 2001). Widespread popularity of underwater hotels is predict ed, and structures such as the Hydropolis, purported to open in Dubai in 2006, will be built to meet growing demand. On the surface of the ocean, tourists will be welcomed by ever larger cruise ships and floating cities, such as the Freedom Ship (construction planned for 2005). Some futurists expect that movable hotel pods will be created that could be temporarily erected anywhere on the planet, where building a permanent resort would be unacceptable politically, economically or environmentally (WTO, 2001). As computer technologies advance sufficiently, virtual reality tourism is likely to become extremely popular and affordable, with significant popularity expended around 2010-2015. Conclusion Reality may now be catching up with the Czech Republic. Prague hoteliers and merchants are reportedly increasingly disturbed by the shortfalls in the tourist industry, and even government officials are concerned by the drop in visitors over recent years. The number of foreign visitors rose rapidly in the first seven years after the Velvet Revolution, from 26.9 million in 1989 to 109.4 million in 1996. However, subsequently, the numbers have tapered, declining to 107.9 million in 1997, and 102.8 million in the following year (the last full year for which statistics are available) (Shlevkov, 2004). In contrast to the decline in tourists in 1997, predominantly due to the massive flooding that submerged large parts of the country, the recent downturn may signal a greater trend. The countrys poor tourism infrastructure, bad service and inept promotion are starting to severely impact on the region’s GDP, and, to a lesser extent, national pride and their value to European progress. The afterglow of the Velvet Revolution lasted longer abroad than it did in the Czech lands. Tourists flocked to the Czech Republic for its fabled capitol city and a taste of Eastern Europe, conveniently located along the Berlin-Vienna train line and within easy reach of Germany and Italy, and not for good food or great service. Ten years later, Prague and the Czech Republic have lost much of their initial aura and are no longer completely uncharted territory. Poor beds, bad board and worse manners now do make a difference for the increasingly discriminating tourist-consumer looking at Prague versus other destinations. The Czechs may not be considered as friendly and outgoing as the Irish, and the land-locked republik lacks a coast to attract beach-seeking tourists, nevertheless, with a location almost exactly in the middle of Europe, a landscape overflowing with cultural attractions and a fascinating history, and an economy considered still very affordable to most Western tourists, the Czech Republic should be enjoying an enviable tourist reputation. Irelands remarkable success stands as an example for what it is possible to achieve. The Czech authorities are beginning to realise the vast potential tourism has to offer. Tourism has been written into virtually every regional development plan in the country, and the Ministry for Local and Regional Development has drafted a national plan for developing tourism that draws attention to some basic problems and makes a number of proposals for reform (Frangialli, 2001). The establishment of a tourism development fund, passage of a more favourable tax legi slation

An Introduction to the airline industry

An Introduction to the airline industry The airline industry is a very competitive market, in the past 2 decades the industry have expanded and still expanding its routes domestic and globally in the beginning airline industry was partly government owned but in the recent years many privatization with airline industry have taken place. D E L A G (Deutsche Luftschiffahrts-Akiengesellschaft ) the first worlds first airline which was on the 16 November 1909 this airline was started mainly with the government owned/assistance this airship manufacturers were the Zeppelin Corporation and their head quarters was in Frankfurt. The two Americans named Rufus and Marriott tried to start the Americas first airline but the attempts were failed due to the airline catching fire. The five airline which was first started still exist these airlines are the oldest ones. KLM its the Netherlands owned, Avianca airlines owned by the Columbia. Qantas is Australians, Czech Airlines operated by the Czech Republic, Mexican Airlines by the Mexico. A fter the world wars there was some inventions have been made and the demand for new planes the designs and the techniques have greatly constructed and soon after the world wars the air rout throughout the Europe have been set up since the past 15 years the airline route have became a baggiest necessity of both business and common peoples that it is hard to live without the air travel the main pros for the Air travel is it reduces time and making the peoples to visit world in the affordable time. The airline industry can be categorized into four different and main Operations International: This service take more than130 passengers and have them and can take anywhere in the world. In this category the business have its revenue for at least $ 1bn. National: In this category it can take the passengers up to 150 and the business have its revenue for from $100 m $1bn Regional: The small companies which mainly focus on the flights with quick halts and the revenue of this business is less than $ 100 m. Cargo: The main focus of these airlines is to carry goods. Emirates (airline) introduction and its growth: Emirates airline is the major airline of the UAE and it is the subsidiary of the Emirates group it is also the national airline of the UAE (Dubai) its major operations is from the Dubai International Airport. It was founded in the year 25th October 1985 The Hub of the Emirates airlines operates its services to the ninety six (96) destinations and about 56 countries and covering around 6 continents. The company also operates the worlds longest flights to New York, los angles and other two states in Unites States of America including Houston (Texas) the cargo services of this airline is operated by the Emirates Cargo services Division at present the Emirates group has more than 40,000 Employees Employed and it is the one of the top 10 world class airlines in the world. Emirates group as a new and young company faces problems back in 1980s when the gulf airways cut down its flights to Dubai the rescue of help from the Dubai royal family invested $10 million in order to begin, the head of the airlines was sheikh Ahmad Bin Saeed al Makhtoom and he is also the present chairman since then the airlines have made its growth in the fleet and also have expanded its destinations. Emirates Airlines Growth and Incorporation: Emirates group have made tremendous efforts to grow since 1990, research shows that Emirates is one of the fastest growing airline in the world since the Emirates group have made partnership with AA (American Airlines) in 1994 it started providing the world class service to the passengers throughout the world soon after the partnership Emirates revenue turned to $634 M in the end of 2004, then after the airlines ordered 7 new Boeing 777 in 1996 costs about $1 Billion. In May 1998 Emirates enter into the agreement with Sri Lankan Air Lines to manage the airlines for 10 year In the year 2008 Emirates launched its nonstop flight to New York. In the year 2010 Emirates group have launched its flights to many new destinations in UK, Paris, Bangkok, Australia, and Saudi Arabia Do you agree with performance linked reward system? Summarize the recent trends of reward system in your organization or the organization you have chosen. Discuss its impact on productivity in your organization Performance linked reward system: The most important way to impress employees is only by reward to share the profits and allow them incentives by paying them bonuses the theory of reward system says that this is the way the employees will share in your dream when you fulfill their dream. The mechanism of this system can make this possible. The reward system is not just paying the bonuses and letting employees shares in the stock options. It is more likely to do with promotions, benefits and other incentives which can motivate employees unfortunately many companies do not offer this which leads to the failure of their organization so all the employers and I should agree with the reward system to sustain in the market with the competitors. (Donna Dee prose P: 33) The basic principle of reward system is that, you get what you reward the Employees. The main principle of management is things are done quickly if you reward the Employees, they shows positive attitude towards their works and their behavior changes if you reward them for their work. If you set a certain target for the employees and when they achieve it reward them immediately failure to do so will affect the results in the future and never hold behind the employees rewards. Therefore the main principle of motivation is by providing rewards and every organization should agree with this system for a successful organization. Benefits in working with airline industry (Emirates): Individuals interested in finding a job which can provide a good career prospects which will provide the option to travel the entire world and enjoying all the benefits as a part of the Emirates group then its hard to find the better industry than airlines and specially working for the Emirates one of the worlds best flight. There are number of benefits packages for the employees and career development programmers the group provides. In the further studies about the airline industry in the Unites States Of America there are nearly 100 airlines and 500,000 peoples are employed by them many of the positions provide excellent benefit packages, Emirates as world class airlines travels to providing services in 56 countries and expected to be added more in 2010 creates more job opportunities than the USA and runs a great reward system. Emirates Group: Emirates Group as a world class airline provides a very wide range generous benefits to the permanent employees who are employed globally. The group follows a detailed research and analysis on compensation and benefits policies by doing so the group can retain the top talented employees. This case study provides the understanding of the total benefits working for the Emirates, the reward system the company includes the cash and non cash elements. The Summary explains the basic elements of the Emirates group reward for the employees, this explanation for the compensation and reward system provides the information for the candidates working for the emirates group depending on what are their role and the unique skills and personality. The Najm award scheme is the reward and recognition program me of the Emirates Group. The Najm (Star in Arabic) recognizes, motivates and awards employees that either display exceptional behavioral competencies (going the extra mile) or identifies organizational improvements (enhanced safety, reduced cost or improved revenue) Cash elements rewards in emirates group Competitive salary and progression through salary range Emirates employees enjoy the competitive salary into cash; depending on the country they like E.g. The employees working in Dubai and K.S.A enjoy the tax free salary per month and rest all countries pays the normal tax depending on their countys legislations. Salaries are paid depending on their role and knowledge and specialization that the candidate can input into the role, the group carries a research with the relevant businesses and reviews on regular basis in order to remain competitive in providing the rewards to their employees. Employees receives the increase in salary range by the company when the responsibilities have been increased it is provided to keep employees motivates as money is a biggest motivator and used to divert route of employees to a desirable direction. Allowances The Group provides the accommodation for their employees or they give out the allowances for accommodation and it also provides the transport allowance or transport. The candidates in specific roles are only eligible for this role. Profit share schemes The company runs the profit share schemes to the employees depending on the financial statements of the group. Protection in exchange rate scheme The employees who works in the UAE their 50% of the salary is protected against adverse exchange rate towards dirham and your currency classification Professional allowance For the employees who possess the specialization skills company runs the scheme of recognizing their talents. Non Cash elements rewards in Emirates Group Annual leave The company provides 30 days of the annual leave excluding the public holidays. The annual leave will increase depending on the length of service. Gratuity/pension schemes Company runs a gratuity/pension schemes depending of the labor law rules and regulations of the country they work/ live in. For example in UK, if an employee signs up for the pensions Schemes Company deducts certain amount and pays monthly pension after the retirement age. The UAE labor law the employees are provided a gratuity on the end of service. This type of service is available to the candidates depending of the conditions like of employment and circumstances. Free holiday tickets Free holidays tickets are provided to the employees and their dependants/family for the destinations of their holiday and also runs schemes that employees can buy a ticket for the families and friends on the discounted fare. Education allowances Company provides financial support for their employees towards their tuition fees for the employees who are on senior positions to train them to requisite job skills besides these childrens of employees are allowed to claim the education allowance for the time of entire time of service. Insurance Insurances like Medical, Dental, life and Accident are provided to the employees throughout the length of service they are with the company. Provident funds On leaving the company employees are provided the provident fund that they have been saving throughout the service company decides either to pay the Gratuity or provident fund whichever is the higher the provident fund is like the long time savings of an employee with the company employee have to contribute 5% and company inputs 12% of the basic salary. Emirates card Emirates employees enjoy the privilege of being an emirates employee they can enjoys the benefits throughout the 1000s of outlets of the emirates group in UK and around the world. . Additional reward system in Emirates Group    Recognition reward from supervisors Employees with emirates enjoys the rewards from the supervisors when they feel the value of the candidate that they are performing consistently this the simple way to say thanks by words or by writing a thanks giving letter or by providing them an appraisal.