Innovation and Its Impacts on the Financial Performance of Businesses

Introduction Innovation is an important business strategy that studies have associated with high performance and competitiveness in SMEs. Innovation enables SMEs to develop unique products, services, as well as business processes that enhance their survival in the competitive market place (Rosenbusch, Brinckmann Bausch 2011, p. 441).Advertising We will write a custom essay sample on Innovation and Its Impacts on the Financial Performance of Businesses specifically for you for only $16.05 $11/page Learn More Without innovation, start up and resources-constrained SMEs would find it difficult to compete established business in the marketplace. According to Laforet (2011, p. 381), extensive studies and research have been done innovation in SMEs. Studies and researches have focused on innovation and its impacts on the financial performance of businesses, and the results of innovation on business. However, much remains unknown on how SMEs could achieve succes sful innovation. This little known concept is the basis of this research proposal. Literature Review Many studies have shown that innovation in business organization exists in three key streams: product, process and organization (Massa Testa 2008, p. 393). Much of the available literatures have described innovation as the commercialization of an invention. Studies have also identified the attributes of innovation and classified them as either contents or intensity. Massa and Testa (2008, p. 394) note that the contents classes of innovation include product and process, technological and architectural, as well as administrative and technical. Intensity, on the other hand, includes such concepts as incremental or radical, continuous or discontinuous, evolutionary or revolutionary, and minor or major among other classes. Despite the availability of immense literature on the same, little remains known on how SMEs could successfully achieve these classes of innovation. According to Lafor et (2011, p. 390), the major factors driving innovation in SMEs include the good attitude towards innovation, market environment, competition, customers needs, organization growth, and the management. Other factors from his study are business model, profitability, desire to improve working conditions, the life cycle of products, as well as the need for quality among other factors. Laforet posits that the positive outcomes of innovation consist of market advantage, operational excellence, and employee satisfaction. In addition, improved financial performance, organization image and reputation, in-house expertise and technical know-how, acquisition of skilled human resources, as well as sustained innovation (Laforet 2011, p. 398).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The negative outcomes relate to such things as failure risks, employees dissatisfaction, rising staff turnover, dama ged organization image and reputation, unprofitability, as well as uncontrollable Growth for SMEs. With all these information documented, the gap then is â€Å"how to SMEs achieve successful Innovation?† Research Proposal As a result of the underlying gaps in the available literature on SMEs innovation, this research proposes to examine how SMEs can achieve successful innovation. This study will seek to answer the research question from a qualitative-based approach. This approach will make use of case studies, focus groups, interviews and existing secondary literature. Conclusion and Expected Outcomes Innovation has invaluable benefits to business organization. Modern business has been greatly boosted by innovation as every businessman wants to be unique in doing business so as to maximize profits. Innovation and technology have become the key drivers of modern business and every company or firm is trying to come up with new innovations. However, little information and knowle dge is available on how SME can achieve successful innovation. In this regard, the expected outcomes of this study are to provide SMEs with quality information on how to achieve Successful innovation. References Laforet, S. 2011, â€Å"A framework of Organizational Innovation and Outcomes in SMEs.† International Journal of Entrepreneurial Behaviour Research, 17(4), pp. 380- 408. Massa, S Testa, S 2008, â€Å"Innovation and SMEs: Misaligned Perspectives and Goals among Entrepreneurs, Academics, and Policy Makers.† Technovation, 28 (1), pp. 393-407. Rosenbusch, N, Brinckmann, J Bausch, A 2011, â€Å"Is Innovation always Beneficial? A Meta- analysis of the Relationship between Innovation and Performance in SMEs.† Journal of Business Venturing, 26 (1), pp. 441-457.Advertising We will write a custom essay sample on Innovation and Its Impacts on the Financial Performance of Businesses specifically for you for only $16.05 $11/page Learn M ore This essay on Innovation and Its Impacts on the Financial Performance of Businesses was written and submitted by user Maginty to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Monte Carlo Resort And Casino In Las Vegas Tourism Essays

Monte Carlo Resort And Casino In Las Vegas Tourism Essays Monte Carlo Resort And Casino In Las Vegas Tourism Essay Monte Carlo Resort And Casino In Las Vegas Tourism Essay Integrated Resorts are resorts with assorted development, it is including hotels, eating houses, convention centre, subject park, shopping centre, casino and so on. Because of the gambling constituent, casino, integrated resorts development has stirred a great contention among the Singaporeans.The Prime Minister of Singapore, Lee Hsien Long announced the cabinet s determination to develop two incorporate resorts in Marina Bay and Sentosa. The Singapore Government stated that the purpose of the Integrated Resorts is to tout the state s touristry industry. There has been really acute competition from the adjacent states like Malaysia, Thailand and Hong Kong. Harmonizing to the Government, the Integrated Resorts are expected to make some 35,000 occupations straight and indirectly. ( Chai Yong, 2012 )When the two incorporate resorts opened in 2010, one-year tourer reachings hit a record high of 11.6 million in 2010, with record visitant reachings for eleven back-to-back months from January to November 2010 ( Channel News Asia, 2010 ) . Presently, the MBS casino sees an norm of 25,000 visitants daily, with a 3rd comprising of locals ( Channel News Asia, 2011 ) . The Singapore raked in S $ 18.8 million in touristry grosss in 2010, a decennary to the highest.From 2009, it was increase 49 % , more than the old prognosis of S $ 17.5-18.5 one hundred million ( Channel News Asia, 2011 ) . TR is estimated to be 2011 2nd one-four th, $ 500 million, registered a year-on-year growing of 18 % ( Straits Times, October 25, 2011 ) . These TRs disbursals consist chiefly of shopping, dining, entryway fees and adjustment. this addition is due to the addition in touristry disbursement, particularly tourers from Indonesia, India and China, every bit good as international visitants increased due to positive economic roar and the gap of two resorts. Overall, two incorporate resorts contributed about $ 3.7 billion to Singapore s GDP in the first nine months of 2010, or 1.7 % of gross domestic merchandise ( GDP ) . ( Straits Times, 2011 ) . Besides predicted that concern is dining, room gross to the hotel industry, which registered an addition of 10-20 % over the same period last twelvemonth, while in 2011, the mean hotel tenancy rate is expected to vibrate around 80-85 % . ( Singapore services sector, 2011 ) .Therefore, the integrated resort in Singapore s economic growing has made a important part to pull tourers, becaus e of important addition in the figure of tourers. Other sectors of the economic system, peculiarly in the service and cordial reception industry, but besides to bask the prosperity of the spillover consequence from the IR. In February 2012, 60,000 occupations have been created integrated resort and throughout the broader economic system, Singapore s gross domestic merchandise ( GDP ) from 1 % to 1.5 % . ( Straits Times, 27 February 2012 ) .The inquiries right now is whether Singapore will of all time let more incorporate resort to be built. The exclusivity periods provided for the first incorporate resort operators ( MBS and RWS ) , in theory, terminal in 2015 and 2016 severally.The inquiry of whether Singapore will spread out its casino gambling industry is a sensitive 1. In one sense, the authorities will surely desire to make everything possible to farther heighten its touristry and economic sectors. In the other sense, farther enlargement of the industry risks forcing Singapore toward a state of affairs in which political hazards become more marked.The math of when and how the authorities will eventually take this issue head-on is interesting. It took about four old ages for both integrated resorts to be built, and that means that if the Singapore authorities awarded another casino licence in early 2012, it would non be until at least 2016 that another IR became operational.This basically means that the issue of whether to let casino bet oning liberalisation is now, from a mathematical position, something that is clearly on the tabular array. One thing is surely now clear to the Singapore government-the casino bet oning industry in Singapore can be financially successful, really successful.The strategic analysis on the gambling enlargement issue will hold to include consideration of such issues as employment, touristry sector development and the overall competitory place of Singapore in Asia. The issue of job gaming will weigh to a great extent on the Sing apore authorities as it considers the issue. At the same clip, Singapore does non necessitate the casino industry to economically last.The reply to the inquiry of whether Singapore should really let more casinos will be answered another twenty-four hours. Until that twenty-four hours, it s deserving it to watch the market and its dynamic interplay in the wide Asiatic economic development narrative. ( Global Gaming Business, 2012 )Negative societal effects, there are besides detrimental environmental effects correlated with the development of the incorporate resorts. Harmonizing to Abhineet Jain, the lead writer of an Environmental Impact Assessment ( EIA ) of the Integrated Resort at Sentosa Island, there are high degrees of irreversible harm to the state s physical resources, ecological resources, and tellurian ecosystems.Despite Sentosa Island being home to several rare and endangered species, the authorities has non given the country particular protection position. The developme nt of the resort has resulted in habitat devastation, remotion of airshed, soil eroding and deposit, the improper disposal of waste, loss of biodiversity, and H2O taint. ( Katie Palmer, 2011 )A Singaporean cab driver portions that the integrated resort are great to convey in revenueaˆÂ ¦Before the casino and Universal Studios were constructed, the times were slow. Now so many tourers largely from China, Australia, Malaysia, and Indonesia are coming here. And we are really busy. ( Katie Palmer, 2011 ) But it s non all good he continues. It is making a batch of societal jobs among localsaˆÂ ¦Some gamblers are so bad they borrow money from loan sharksaˆÂ ¦And in more instances than non, these gamblers are abandoning their married womans, their kids, merely so they can feed their gaming dependence. ( Katie Palmer, 2011 )Focus on the Family Singapore, a local charity that provides quality household life educational plans, besides weighs in on the societal jobs exac erbated by the development of incorporate resort. ( Katie Palmer, 2011 )Las Vegas is a true 24-hour metropolis with casinos, theme-park manner drives, cabarets, dress shop stores and the most astonishing hotels. In Vegas, the attractive forces are all based at the hotels themselves and they all have something different to offer.Travel, touristry, conventions and trade shows go hand-in-hand with incorporate resort casinos. Las Vegas, a metropolis widely known for its resort casinos, is a premier illustration of this type of economic development. It boasts 22,000 meetings and conventions a twelvemonth and hosted six of the top 10 trade shows in North America in 2009 doing it the taking trade show finish for 16 back-to-back old ages. Not to advert, the Las Vegas convention industry is responsible for 46,000 local occupations and an estimated $ 4.5 billion yearly for the local economic system. ( Texas Gaming Association, 2012 )The societal impact is including the cost of life, I give some illustrations which is in Las Vegas, Nevada. Household Adjustment costs are low compared to other topographic points for points such as apartment purchase, mortgage rate, lease, and public-service corporations. There are 597 topographic points that are more expensive, and 182 topographic points that are less expensive for family adjustment. Benchmark lease for a secure upmarket unfurnished flat ( 3 sleeping rooms ) is $ 2,332 in a cardinal location, and $ 1,188 in a suburban location, per month, excepting public-service corporations.The transit cost is comparatively high undertaking, such as fuel ( gasolene, gasoline ) , public transit, vehicle purchase and care to the other topographic point. 233 topographic points, are comparatively expensive, and 546 topographic points, cheaper transit. Benchmark the mean monetary value over the past twelvemonth, the highest available octane gasolene or gasoline ( 1L ) $ 0.97, and the basal purchase monetary value, including revenue enhancem ent, compact, little, economic system autos ( 1.4 litres ) duties $ 18,322 ( Xpatulator website. 2012 )For the economic system portion, Las Vegas has been the most moneymaking grownup resort area around since the mid 20th century. Despite being hit harder by the lodging depression than most provinces and holding an unemployment rate over 8 % , the metropolis continues to pull an increasing figure of tourers yearly. Since 2010, visitant volume has steadily increased. Vegas could stop this twelvemonth holding attracted its highest volume of tourers to day of the month, harmonizing to Stephen Brown, manager of UNLV s Center for Business and Economic Research.Although Vegas touristry is every bit strong as of all time, Clark County occupants are non needfully better off financially than they were before 2008. This is because most of the fiscal additions land in the custodies of big companies that own the resorts and casinos ( MGM, Boyd Gaming, Goldman Sachs, Sands Corp. , etc. ) and no n so much in the custodies of mean occupants. Steve Wynn ( net worth of $ 2.5 billion as of 3/2012 ) and Sheldon Adelson ( net worth of $ 24.9 billion as of 3/2012, highest it s been since 2008 ) are illustrations of proprietors who are seeing their bank histories expand this twelvemonth. Still, those in the 46 % of the employed population who are working in the metropolis s touristry industry surely benefit from Las Vegas economic system staying adrift securing payroll checks for restauranter, housekeeping staff and cab drivers. Peoples may be cutting back on gasolene and food markets, but they re non cutting Vegas out of the image.For starting motors, one s possible to travel place from holiday with heavier pockets than he or she arrived with entices people of all societal categories and ages. Due to Vegas propinquity by auto to other major southern metropoliss, ( L.A. , San Diego, Phoenix ) it s a convenient and comparatively inexpensive finish for many Americans. Even roundtr ip flights from New York City normally fare in the $ 300 scope. USD Exchange rates with the Euro, Swedish and Norwegian Krona s, British lb, etc. , make sing anyplace in the United States more low-cost for foreign than pre 2008, when the dollar was on top. Vegas is a topographic point that most tourers do nt remain in for more than a long weekend, so a Sin City pickup does non usually to necessitate fetching clip off work or serving out hotel disbursals for seven darks. Harmonizing to the Las Vegas Sun s one-year touristry study from 2009, the mean length of a stay was 3.6 darks, higher than reported Numberss from old old ages. ( Rachel Hennessey, 2012 )Furthermore, the CNN Money study that, adding to the province s sufferings, the national economic downswing hurt Nevada s lifeblood of touristry and gaming, bing even more occupations. Nevada s unemployment rate soared to an all-time high of 14.9 % on December 2010. While it s since fallen to 12.6 % , that s still more than four per centum points higher than the national rate. And more than half of those out of work have been idle for at least six months. A astonishing 1 in 16 places have been hit with a foreclosure filing, versus the national rate of 1 in 69 places. And more than half of borrowers owe more on their mortgages than their places are deserving, compared to merely over a 5th nationwide. Meanwhile, place monetary values continue to plump. Case Schiller late reported that Las Vegas place monetary values fell by 9.1 % over the 12 months stoping in November, the second-worst public presentation among the 20 metropoliss surveyed. The ground: a high figure of foreclosure gross revenues. ( Tami Luhby, 2012 )Technical portion, set the tone for the neon visible radiations to imitate the iconic Welcome to Las Vegas mark to recognize travellers on the Las Vegas Strip, the large-scale plants of art and new engineering, air hoses invited riders to mensurate, payment and grade in more than 200 self-service bo oths and scan their ain embarkation base on ballss and self board the gates.New bags can easy be resolved T3. More than 900 large-screen digital signage show flights, luggage and happen information. Furthermore, the rack on the door, the iconic sights of high-definition digital signage shows exposure, riders may see finish in its flight. Like the remainder of the airdrome, T3 free radio service, ample power mercantile establishment for bear downing appliances. For those tourers who want to acquire the reaching right down to concern to go on chancing until they perfectly must go forth the house there are about 300 slot machines throughout the McCarran International Airport s new terminus. ( Harriet Baskas, 2012 )Environmental impacts to Las Vegas about three parts, which is caused by autos come ining and vacated the Las Vegas casino and the metropolis s air pollution, the environmental impact of Las Vegas. This is caused from their vehicle fumes. It besides caused many autos to com e in and travel out of the Las Vegas casinos and urban noise pollution. It is loud, it was deafening noise due to their vehicle. Overcrowding, the crowded metropolis of Las Vegas, excessively many people ( locals and tourers ) , and positive economic bring more money, but besides with negative agencies that metropoliss need to better the substructure and superstructure like public lavatories, sewerage infinite, more drinking H2O. ( Jin, 2012 )The Monte Carlo resort and casino, most gross are from casino, nevertheless, non merely to do money from casino, but besides to guarantee the safety of the invitees. So, in the casino, bet oning surveillance officers besides known as a monitoring agent and game studies, supervising forces to move as casino employees, directors, security agents and patrons. The usage of sound and picture equipment, they are viewed in the observation room casino operators unusual activity, fraud, larceny, and so on. And to supervise their conformity with the regu lations, ordinances and Torahs. Security camera records they maintain and form, is sometimes used as grounds in the constabulary probe. In add-on, supervising on occasion leave the observation room, walk in the casino. And supply security bodyguard, if the invitees should pay the winning manus won, invitees can bespeak a security guard walking your coop or unrecorded casino invitees should set the money in a safety sedimentation box, most casinos offer hotel invitees. ( Bill Burton,2012 )Monte Carlo is the most cost-efficient holiday finish in Las Vegas. The hotel is located in the centre of the Las Vegas Strip. Here to supply the most epicurean comfortss, so you constantly surprises, but besides to supply the best dining, gambling, amusement and room service, and the monetary value is low-cost. The subject of the Monte Carlo resort and casino is civilization construct, and the design is Gallic manner. ( Henderson J, 2003 )The construct of incorporate resort is a really lager gradua ted table amusement development based around casino, it including cinemas, hotel, retail shopping promenade, subject park, nightclub, watering place, convention centres, and nutrient and drink offering, illustration, Monte Carlo Resort and Casino. The traditional resort merely supply basic installations, and less figure of room, illustration some resort on the island. ( Andrew MacDonald and William R Eadington, 2010 )In decision, MGM International Hotel Group is committed to as a leader in environmental direction to present value to our stockholders and the communities where we operate. Environmental advantages created to heighten the sustainable development of the company, MGM Resorts environmental duty platform focuses on cut downing the ingestion of resources on Earth is limited, invention, instruction and efficiency. Green advantage, to guarantee that we adopt a responsible attack to the environment, cut down our C footmark throughout all operations. We believe that a more envi ronmentally friendly concern is a better concern.In order to accomplish our end of sustainable development, we focus our attempts to assist our footmark in the five nucleus countries. The five nucleus countries to advance our uninterrupted betterment As a consequence, 100s of the execution of best patterns and MGM Resorts belongingss to cut down one-year emanations of more than 100,000 metric dozenss of C dioxide equivalent. First, energy-saving, water-saving, green edifice, recovery and waste direction, sustainable supply concatenation, every bit good as instruction and protagonism. ( Monte Carlo Resort and Casino website,2012 )Furthermore, Monte Carlo Resort and Casino besides has a event which is our ain show, to pull invitees from all over the universe, the amusement name called Blue Man Group.Blue Man Group has been amusement basic introduction on the show from 2000 in the Gaza Strip in Las Vegas. In the past two old ages, the originative power of the Blue Man Group, has been i n attempts to advance and its indefinable art, engineering and music jubilation in Monte Carlo to a new degree. In their new plan audience will be enveloped in a category of a colourful synergistic experience, merely Blue Man Group can supply. Iconic elements of the plan, the group has become known, while the debut of new merriment personality and vivacious new tools.

Europe between Wars 1919-1939 and European Crisis Assignment

Europe between Wars 1919-1939 and European Crisis - Assignment Example The Weimar Republic had to face and go through a severe economic fall in the first years of the decade because of the debt and the reparations caused by the War and the Treaty of Versailles, which culminated in 1923 with the devaluation of the Mark (the currency). Communism attracted many followers after the October Revolution and the Russian Civil War, and so communists (Bolsheviks) adopted a policy of mixed economies in the period between 1921 and 1928. Fascist movement as a response and a solution for the prevention of the communism spread in many countries in Europe, with Germany having the leading role. This period was believed to be the third period of anxiety for Europe (the previous two that could be compared in intensity with this one being the one of the ancient world and the Reformation). Totalitarianism as a concept in political theory arose in the XX century. Although there are slight differences and variations among totalitarian regimes, the chief characteristics of totalitarianism are: a) Totalitarian regime encompasses the whole of the society, and authoritarian government, as a variation focuses only on governance. For a regime to be considered totalitarian, government and society must be closely intertwined and there is only one political party; b) Totalitarianism holds strict government control of the media which is to be used only as a means of propaganda; c) There is no personal liberty in cultural, political and artistic expression among the people; d) People must be utterly devoted to the state and must never criticize the government or any of its segments as they and their whole families may "disappear" or end up in prison as "political" prisoners. e) Nazism and Fascism are considered totalitarian regimes of the right, while Stalinism is the totalitarianism of the left.

Building Competencies in Comminity Youth Worker Essay

Building Competencies in Comminity Youth Worker - Essay Example Growing realization among the public at large about the need to delve deep into the lives of our young adults, finding the cause of the growing frustration, led them to believe the lack of sufficient support system in the form of positive relationships and lack of proper opportunities for self enhancement were at the root cause of the present scenario. Moreover, as in the language of Pittman K & Ferber T in Unfinished business: Future Reflections on a Decade of Promoting Youth Development "problem-free is not fully prepared", an effective Program for Youth Development requires opportunities and environment to be given to young adolescents to build and develop their personal and social assets that will prepare them for a healthy and productive adulthood. In spite of the presence of a number of talented youth workers, the agencies working in this field face the obstacle of the unmet need of a stable and well-trained work force that has knowledge and competence of addressing the myriad challenges facing both urban and rural youth. Moreover, their working climate is not tempting enough to attract more and more youth workers in this field. Being comparatively younger, it has yet to attain the status of a recognized and professional field. Lack of funds provided for these programs deter the organizations to make long term recruitments required for the success of these programs. In this background, it is important to know as to which skills are required by a youth worker working in such organizations that help them develop and maintain effective relationships with youth and their families and thus reducing problems in their lives and ensuring an environment congenial to their healthy development. Building caring relationships with children and youth requires active listening and a variety of communication strategies. As public educators and practitioners of youth development, the community youth worker must possess several internal and external competencies and skill in order to deliver an effective program capable of reducing problems in the life of our young adolescents and give them an environment congenial to their thriving. As a strong family support system is the most important requirement for a child to thrive, an ideal community youth worker is expected to bring it into the life of young adolescent by working as a bridge to bring the families together. He can interact with the parents and can make them realize the type of problems an adolescent has to undergo trying to find his identity in the outside world, which are further augmented if he belongs to a migrated community and at the same time can make the adolescent realize what their parents have to undergo with their beliefs in traditions of the community. Thus, on the one hand, he has to be human and sensitive to the needs of diverse people and on the other hand should be conversant with the various stages of the development of a child. Changing demographics of the American society requires its community youth w

English Formal Report Essay Example | Topics and Well Written Essays - 1750 words

English Formal Report - Essay Example Secondly, all the information regarding requirements, characteristics for successful promotion, pluses and minuses of future work must be collected and analyzed thoroughly. Thirdly, reasonable comparison of the first two factors and making logical conclusions is the step toward future career (Brown, 2002). It is proved that when people make conscious choice of their profession rather than catch the first option they are much more satisfied with their lives later. Getting all possible information about perspective occupation thus is especially important step. Among numerous possible professions I dwelled on the careers of psychologist and human resources manager as perspective, interesting, and potentially profitable occupations. Both professions presuppose close interaction with people and constant communication. Receiving basic education in one of the spheres is also a compulsory condition of starting a career. Studying psychology professionally presupposes wide range of professions according to a degree received. This science specializes in human behavior and brain work connection research. It also aims to distinguish correlation between social environment and human behavior (APA Guide, 1995). It is important that this sphere is abundant with employment opportunities. In the most recent research regarding growth probability for different occupations the occupation of psychologist was on the 6th place in the rating. This is a clear evidence of favorable conditions of career development. It was estimated that around 93% of all graduates in psychology were employed or accepted to graduate programs. This occupation usually has options in clinical /counseling psychology, concentration on scientific studies, and applied psychology. Those professionals, who choose scientific direction conduct experiments, do teaching in colleges or consult patients. Clinical

Concept of Randomness in Statistics

Concept of Randomness in Statistics Part I Introduction Introduction on Freshman Seminar Freshman seminar 1205M offers great opportunities for students to work intimately with professors from the Science faculty on various areas of mathematics. The seminar was targeted to encourage us to open our minds to creative ideas and develop curiosity of influential mathematical theories and various subgroups of contemporary mathematics. In addition to exposure to selected subtopics in contemporary mathematics, we had valuable opportunities to develop our presentation and academic essay writing skills. 1.2 Important roles of Analogy and Intuition The historical development of mathematics is significantly influenced by intuition acquired from real life experience and analogy quoted from various other areas (Harrison Treagust, 1993). Analogy is an extraordinary method in developing new concepts in the history of science. In this module, famous topics in the contemporary mathematics, including geometry, number theory, set theory, randomness and game theory have been discussed. Among all topics, our team worked on Analogy and Intuition of Randomness. In this seminar, various creative analogy ideas and intuition/counter-intuition thinking have been presented based on specific cases in modern mathematics. 1.3 Method on Research and Presentation Our team collected relevant source materials on the randomness, including books, journals, and websites on the Internet. As for presenting applications of randomness, in particular, we focused on the historical development of randomness theory, the simplified key concepts in randomness, the counter-intuitive stories happened, overlapping with other fields in nature, and some significant and influential applications of randomness theory in our daily life. We omitted complicated theories, technical formulas and rigorous proofs. Throughout the whole semester, our team has conducted two informal presentations on randomness. In order to illustrate randomness clearly and intuitively, we adopted various methods: problem solving, in-class quizzes, presentations and attractive stories. Subtopics included: Biology, quantum physics, finance, audio engineering, statistics and so on. Part II Report on Randomness 2.1 Randomness on Communication Theory 2.1.1 Introduction of Noise in Communication Theory In statistics, irrelevant or meaningless data is considered noise (random error). Whereas in communication theory, random disturbance in a signal is called noise. In essence, noise consists of a large number of disturbances with a statistically randomized time distribution. It is assumed that noise signals have power spectral density that is proportional to 1/f^ÃŽ ², where f stands for frequencies of noise. For example, the spectral density of white noise is ÃŽ ² = 0, while pink noise has ÃŽ ² = 1. This special character is widely used for distinguishing among colors of noise. 2.1.2 Laws and Criterions Used to Distinguish Colors and Characteristics of Noise The color names for noise are derived from an analogy between the spectrum of noise and the equivalent spectrum of lights with different visible colors. For instance, if we translate the sound wave of white noise into light waves, the resulting light will be viewed as white color. In electronics, physics, and many other areas, the color of a noise signal is usually understood as some characteristics of its power spectrum. As different colors of noise have significantly different properties. Therefore, each kind of noise requires a specific color to match with it. Start with the most well-known one: White noise, people name different noise after colors. This is in analogy with white color light, which has a flat spectrum of power on its frequency range. Other colors, such as violet, blue, red, pink, are then given to different noises with extremely similar spectrum characteristics. Although most of them have standardized noise patterns with specific disciplines, there are also plenty of noise spectrums with imprecise and informal definitions, like black noise, green noise, brown noise and so on. These below parts were summarized from Wikipedia terms: Noise (electronics) Sites: http://en.wikipedia.org/wiki/Noise_%28electronics%29 2.1.3 Inner Sources of Noise Thermal noise is generated from the random thermal motion of charges (usually electrons) inside electrical conductors. The amplitude of the signal has a probability density function similar to the Gaussian (Normal) distribution. The amplitude of thermal noise depends on the temperature of the circuit. Shot noise results from unavoidable random fluctuations when the charges (such as electrons) jump over a gap inside the electric circuits. It sounds rather similar to the noise created by rain falling on a tin roof. Flicker noise has a frequency spectrum that falls down into the higher frequencies areas steadily. Burst noise consists of sudden step-like transitions between two or more levels at random and unpredictable times. It sounds like eating popcorn. 2.1.4 Outer sources of Noise Atmospheric noise is the natural disturbance caused by electricity discharges in thunderstorm and other natural disturbances occurring in nature, like disruptions of high-voltage wires. Industrial noises are produced by automobiles, aircrafts and so on. The disturbances are produced by the discharge processes in these operations as well, which is similar to the atmospheric noise. Extraterrestrial noises come from the universe. These noises include: Solar Noise, which is a radiation from the sun due to its intense nuclear reactions and the consequent high temperature, and Cosmic Noise, which are able to transmit its radiation and cosmic rays to almost everywhere. 2.1.5 Classification of Different Colors of Noise This part was adapted and summarized from an online introductory article: â€Å"White, pink, blue and violet: The colors of noise† from the Wired Magazine Science Column, Author: Duncan Geere, Date: Apr. 07, 2011 White noise White noise has a constant power distribution density on its spectrum. It is named after the white color light, which has a flatten frequency everywhere on the spectrum. The term is widely applied in many scientific and technical areas, including physics, audio engineering, telecommunications, statistical forecasting and many other areas. Specifically, White noise is used as a generator for random numbers. In addition, weather forecasting websites also use white noise to generate random digit patterns and simulate real weather.   Pink noise The power density of pink noise decreases proportionally to 1/f. In the past, the term of flicker noise sometimes refers to pink noise, but it will be more appropriate if we strictly apply it only to electronic circuits. Moreover, Pink noise is also used in analysis of meteorological data and output radiation power of some astronomical bodies. Brown noise According to the precise definition, the term Brown noise refers to a noise whose power density decreases inversely proportional to f^2. The density function can be generated from integrating white noise or via an algorithm of Brownian motion simulation. Brown noise is not named after the color brown spectrum, which is distinct from other noises. It can be used in climatology to describe climate shifts. However, within the scientific community, scientists have been arguing about its value for such purposes for a long time.   Blue noise The power density of Blue noise is proportional to frequency. Blue noise has an increasing frequency over a finite frequency range. Blue noise is similar to pink noise, but instead of a decreasing spectrum, we observe an increasing one. Sometimes it is mixed up with Violet noise in informal discussion. Violet noise Violet noise is also known as the Purple noise. The power density of Violet noise is proportional to f^2, which means it increases in quadratic form. Violet noise is like another version of Brownian noise. Moreover, as Violet noise is the result of differentiating the white noise signal density, so people also call it the â€Å"Differentiated White noise†. Grey noise Grey noise is a special kind of white noise process with characteristic equal loudness curve. However, it has a higher power density at both ends of the frequency spectrum but very little power near the center. Apparently, this is different from the standard white noise which is equal loud across its power density. However, actually this phenomenon is due to the humans hearing illusion. 2.2 Randomness on Finance 2.2.1 Brief Introduction to Efficient Market Hypothesis This part was summarized based on an online informal introductory article: â€Å"The Efficient Markets Hypothesis†, Authors: Jonathan Clarks, Tomas Jandik, Gershon Mandelker, Website: www.e-m-h.org In financial fields, the efficient-market hypothesis asserts that stock market prices will evolve with respect to to a random walk. They have the same probability distribution and independent of each other. Random walk states that stocks take a random and unpredictable path. The probability of a stocks future price going up is equal to going down. Therefore, the past movement (or trend) of a specific stock price or the overall market performance cannot be used as the basis to predict future movements. In addition, it is impossible to outperform the entire market without taking additional risk or putting extra efforts. However, EMH proves that a long-term buy-and-hold strategy is the most efficient, because long term prices will approximately reflect performance of the company very well, whereas short term movements in prices can be only described as a random walk. 2.2.2 Historical Backgrounds of Efficient Market Hypothesis This part was summarized based on an online nonprofit educational website: www.e-m-h.org and a research paper: History of the Efficient Market Hypothesis, Nov.2004, Author: Martin, Sewell, Publisher: University College London. Historically, the randomness of stock market prices was firstly modelled by a French broker, Jules Regnault, in 1863. Shortly after, a French mathematician, Louis Bachelier, developed the mathematics of Brownian motion in 1900. In 1923, the famous economist, Keynes clearly stated that investors in financial markets would be rewarded not for knowing better than other participants in the market, but rather for risk taking. After the WWII, the efficient-market hypothesis emerged as an outstanding theory in the mid-1960s. In the 1960s, Mandelbrot proposed a randomness model for stock pricing. Fama discussed about Mandelbrot’s hypothesis and concluded that the market data confirmed his model. In addition, he defined the so-called â€Å"efficient market† for the first time, in his paper â€Å"Random Walks in Stock Market Prices†. He explained how random walks in stock market significantly influence individual stock prices. Later, he introduced definitions for three forms of financial market efficiency: weak, semi-strong and strong. The term was eventually popularized when Burton Malkiel, a Professor of Economics at Princeton University, published his classic and prominent book: â€Å"A Random Walk Down Wall Street.† 2.2.3 Three Major Types of Markets: Weak, Semi-Strong and Strong The three types of EMH were summarized based on an online technical blog: â€Å"The Efficient Markets Hypothesis†, Author: Jodi Beggs, Website: About.com   Weak Form of Efficiency We cannot predict future prices through analyzing prices from the past. And we cannot earn excessive returns by using information based on historical data. In this level, technical analysis is always profitable, as share prices exhibit no dependencies on their past. This implies that future prices depend entirely on performance of companies. Semi-Strong Form of Efficiency Information other than market data is released, such as instant news, companies’ management, financial accounting reports, companies’ latest products. Under such condition, share prices will reflect the new information very rapidly. Therefore, investors cannot gain any excess returns by trading on the public information. Semi-strong-form efficiency market implies that neither technical analysis nor fundamental analysis can produce excess returns. Strong Form of Efficiency   Under such condition, information typically held by corporate insiders is released. Therefore, share prices reflect not only previously public information, but all private information as well. Theoretically, no one can earn excess returns. However, even before major changes are exposed to the public, corporate insiders are able to trade their company’s stocks from abnormal profits. Fortunately, such insider trading is banned by surveillance authorities, like the Securities and Exchange Commission. 2.2.4 Arguments and Critics on Efficiency Market Hypothesis However, critics blame that the theory’s applications in markets results in financial crisis. In response, proponents of the hypothesis state that the theory is only a simplification model of the world, which means that it may not always hold true under every conditions. Hence, the market is only practically efficient for merely investment purposes in the real world rather than other aims. 2.2.5 Interesting Counter-intuitive Stories on Monkeys   The story was adapted from the Forbes Magazine, Personal Finance Column, Author: Rick Ferri, Date: Dec, 20, 2012 In order to verify the Efficient Market Hypothesis and illustrate the theories explicitly to the public, a group of researchers conducted a monkey experiment. They randomly picked up thirty stocks from a one thousand stocks poll and then let a hundred monkeys throw darts at the stocks printing on newspaper. They kept repeating this experiment for five decades, and tracked the results. In the end, to their surprise, monkeys’ performance beat the index by 1.7% per year, which indicates that, there is certain situation where traditional technical analysis cannot even beat randomly-selected portfolios. The results have shocked the whole world by how greatly randomness affects the market stock prices. 2.3 Randomness in Physics and Biology 2.3.1 Application of Randomness in Modern Physics In the early 19th century, physicists use the philosophy of randomness to study motions and behaviors of molecules, and they build models in thermodynamics to explain phenomenon in gas experiments. In the 20th century, when the era comes for quantum mechanics, microscopic phenomena are considered as completely random. Randomness of things like radioactive decay, photons passing through polarizers, and other bizarre quantum effects cannot be explained and predicted with classical theories in the usual way (Scott, 2009). Therefore, physicists propose a new theory, which claims that in a microscopic world, some of the outcomes appear casual and random. For example, when we describe a radioactive atom, we cannot predict when the atom will decay. What only left for us is the probability of decay during a specific given period. In order to solve this mystery, Einstein postulates the Hidden Variable theory, which states that nature contains irreducible randomness: properties and variables work beyond our scope somehow, but they actually determine the outcomes appear in our world. 2.3.2 Application of Randomness in Biology The modern evolutionary states that the diversity of life is due to natural selection. Randomness, an essential component of biological diversity, is associated with the growth of biological organization during evolution (Longo Montevil, 2012). It plays important roles in determining genetic mutation, and the significance of randomness effects appear at different sizes, from microorganisms to large mammals (Bonner, 2013). During this process, a number of random genetic mutations appear in the gene library under both inner and other influences. Although this process is purely random, it indeed systematically leads to a higher chance for survival and reproduction of those individuals who possess these mutations than those without them. This mechanism plays crucial roles in the survivals of animals. Surprisingly, randomness in biology has remarkable relations to quantum physics. Schrodinger proposes his notion of negative entropy as a form of Gibbs free energy, which also behaves similarly to randomness properties in abstract quantum world (Schrodinger, 1944). Part III References Beggs, J. (2014). The Efficient Markets Hypothesis. About. Retrieved Mar 30, 2014 from http://economics.about.com/od/Financial-Markets-Category/a/The-Efficient-Markets-Hypothesis.htm Bonner, J. (2013). Randomness in Evolution. Princeton University Press. Retrieved Mar 30, 2014 from http://press.princeton.edu/titles/9958.html Clarke, J. Jandik, T. (2012). The Efficient Markets Hypothesis. Retrieved Mar 30, 2014 from http://ww.e-m-h.org/ClJM.pdf Ferri, R. (2012). Any Monkey Can Beat The Market. Forbes. Retrieved Mar 30, 2014 from http://www.forbes.com/sites/rickferri/2012/12/20/any-monkey-can-beat-the-market/ Geere, D. (2011). White, pink, blue and violet: The colors of noise. Wired. Retrieved Mar 30, 2014 from http://www.wired.co.uk/news/archive/2011-04/7/colours-of-noise/viewall Harrison, A. G., Treagust, D. F. (1994). Science analogies. The Science Teacher, 61, 40-43. Longo, G Montevil, M. (2012). Randomness Increases Order in Biological Evolution. Retrieved Mar 30, 2014 from http://www.researchgate.net/profile/Giuseppe_Longo2/publication/221350338_Randomness_Increases_Order_in_Biological_Evolution/file/60b7d51544f17cb8d8.pdf Schrodinger, E.: What Is Life? Cambridge U.P. (1944) Scoot, J. (2009). Do physicists really believe in true randomness? Ask a Mathematician. Retrieved Mar 30, 2014 from http://www.askamathematician.com/2009/12/q-do-physicists-really-believe-in-true-randomness/ Sewell, M. (2004). History of the efficient market hypothesis. Retrieved Mar 30, 2014 from http://www.cs.ucl.ac.uk/fileadmin/UCL-CS/images/Research_Student_Information/RN_11_04.pdf

A Man For All Seasons Essay examples -- essays research papers

In the play A Man For All Seasons, the main character is Sir Thomas More. Sir Thomas is the Chancellor of England and a very religious man. Once, during a conversation with Wolsey (Chancellor at the time) about the King needing a son, Wolsey asks if Sir Thomas would like to govern the whole country by prayer and Sir Thomas agrees. This shows how strong his faith was. Sir Thomas is a friend of King Henry VIII, but when he disagreed with the King’s opinion on marriage, he was beheaded. King Henry was married to Catherine of Argon, the daughter of Ferdinand and Isabella of Spain. Catherine was Henry’s brother’s widow. King Henry and Catherine were married â€Å"for State reasons†, but although Catherine was pregnant many times, only one child survived—Princess Mary. King Henry needed an heir to his throne, so he wanted a son. He thought Catherine could never get him a son, because she had already failed so many times, so he wanted to have a child with Anne Boylen, but he couldn’t because he was already married to Catherine. Therefore, he wanted the Pope to divorce him and Catherine also, for â€Å"State reasons.† When Sir Thomas didn’t agree with the divorce, many people turned away from him. His wife, Lady Alice, begged Sir Thomas to agree with the King, just to make life simpler, but Thomas refused. He believed the he wouldn’t go to Heaven if his conscience was not clear, and his conscience told him not to just tell the King what he wanted to hear, but to tell the King the truth. This is just a basic overview of what happened in A Man for All Seasons. In Act I Scene 1, the book introduces you to some of its’ main characters. Sir Thomas and Master Richard Rich are first to be introduced. Rich is offered a job as a school teacher, but he wants to be in office. Sir Thomas gives Rich a silver cup that was given to him as a bribe by a woman who put a lawsuit into the Court of Requests. After giving Rich the cup, Sir Thomas tells Rich of all the temptations you have when you are in office—money, manors, villages, mills, etc. Then enter the Duke of Norfolk and Lady Alice, Sir Thomas’s wife, and Margaret More, Sir Thomas’s daughter. The Duke of Norfolk, who is Earl Marshall of England, is in his late 40’s, a sportsman, a soldier, and a great nobleman. Lady Alice is in her late 40’s, born into merchant’s class, but now a great lady. Margaret is in her middle 20’s, beautiful ... ...he last time she sees her husband, and she forgives him. In Scene 8, More is at the Hall of Westminster to answer charges of High Treason. They say that More denied King Henry the title of Supreme Head of the Church in England. Sir Thomas never denied this, but since he refused the oath, they assume that he is denying the King his title. This is considered High Treason, and punished by death. Sir Thomas basically gets no trial—he is guilty no matter what he says, unless he signs the Act and takes the oath. The jury doesn’t even retire to think of the judgement. They pronounce Sir Thomas guilty. More asks if he can say something before he is put to death. They grant him this, and he says that he is the King’s true subject and has always been loyal to him. Scene 9 is the closing scene of the play. In it, Sir Thomas is to be beheaded. Margaret is there, and she is deeply grieved. Her father tells her that death comes to everyone, and it is the course of nature a nd the will of God. Sir Thomas tells the Headsman to send him to God, and not to be afraid of his office, and the Headsman beheads him, and says â€Å"Behold—the head of a traitor.† This is what happened in â€Å"A Man for All Seasons.†

Pressure Groups †Amnesty International Essay

In Great Britain, the number of political parties is very small, whereas the number of pressure groups runs into thousands; as the membership of political parties has fallen, that of pressure groups has increased. The aim of all pressure groups is to influence the people who actually have the power to make decisions. A pressure group is an organised group that seeks to influence the government decisions or protect or advance a particular cause or interest. Groups may promote a specific issue and raise it up the political agenda. Pressure groups are sometimes able to gather sufficient support to force government to amend or even scrap legislation. For example, in March 1998 around 300,000 people went to London to protest about the Labour government’s rural policies – the ‘Countryside March’ – the government reacted by announcing plans for a Ministry of Rural Affairs and by publishing a white paper investigating all aspects of rural life. In return, these groups have an input into the making of decisions. My presentation is mainly focused on the one of the most influential pressure group and human rights organisation in the world, called Amnesty International. Amnesty International is a worldwide movement of people who campaign for internationally recognized human rights to be respected and protected for everyone. It undertakes research and takes action aimed at preventing and ending grave abuses of these rights, demanding that all governments and other powerful entities respect the rule of law. It campaigns globally and locally. Amnesty International members and supporters exert influence on governments, political bodies. Activists take up human rights issues by mobilizing public pressure through mass demonstrations, vigils, direct lobbying, publication and promotion of research findings, human rights education or co-operation with student groups. Amnesty International works with and for individuals the world over. For example, it takes action to : stop violence against women or abolish the death penalty. Ever since Amnesty International started campaigning in 1961, it has worked around the globe to stop the abuse of human rights. In 1961 Peter Benenson launched a worldwide campaign, ‘Appeal for Amnesty 1961’ with the publication of a prominent article, ‘The Forgotten Prisoners’. The imprisonment of two Portuguese students, who had raised their wine glasses in a toast to freedom, moved Benenson to write this article. His appeal was reprinted in other papers across the world and turned out to be the genesis  of Amnesty International. The first international meeting was held in July, with delegates from Belgium, the UK, France, Germany, Ireland, Switzerland and the US. They decided to establish â€Å"a permanent international movement in defence of freedom of opinion and religion†. On Human Rights Day, 10 December, the first Amnesty candle was lit. In January 1962 the first research trip was undertaken. This trip to Ghana, was followed by Czechoslovakia in February (on behalf of a prisoner of conscience), and then to Portugal and East Germany. Moreover, At a conference in Belgium, a decision was made to set up a permanent organization that will be known as Amnesty International. During all these years Amnesty International has undertaken many of the campaigns and actions and developed human rights. It broaden its territory and became one of the most stronger human rights protector. In January 1969, UNESCO granted Amnesty International consultative status as the organization reached another milestone – 2,000 prisoners of conscience released. In 1977 the organisation was awarded Nobel Peace Prize for its â€Å"campaign against torture†, and the United Nations Prize in the Field of Human Rights in 1978. After 30 years the organization broaden its scope to cover work on abuses by armed opposition groups, hostage taking and people imprisoned due to their sexual orientation. Thousands of Amnesty International members respond to Urgent Action appeals on behalf of individuals at immediate risk. Publicity through the news media and the internet takes its message in many languages to millions of people. It is an organisation independent of any government, political ideology, economic interest or religion, it is democratic and self-governing and financially self-sufficient. Amnesty International has more than 2.8 million members, supporters and subscribers in over 150 countries and territories, in every region of the world. It has offices in 80 countries around the world, for example in Sweden, Senegal or Bangladesh. Amnesty International research teams focusing on particular countries and themes investigate reports of human rights abuses, cross checking and corroborating information from a wide variety of sources and contacts. It receives information from many sources, including: prisoners and others suffering other human rights abuses and their representatives, lawyers and  journalists, refugees, community workers and human rights organizations and defenders All Amnesty International campaigning and research is fact based. Among the many activities it carry out, it sends experts to talk with victims, observes trials, monitors global and local media, publicizes its concerns in documents, leaflets, posters, advertisements, newsletters and websites. Amnesty International’s current six year ( 2010 -2016) strategy aims to empower rights-holders whose rights are challenged and strengthen the human rights movement.

Free Essays on Richard II

Richard II is sometimes seen as a problem of conflicting values of obedience to a divinely appointed king and of a country’s need for a strong, just, and ruler. By bowing down to the needs of his subjects, a king allows others to dictate his actions and hence compromises the essence of his power. Ironically, failing to heed the desires of his subjects transforms a king into a self-indulgent tyrant and propels his kingdom towards ruin and decay. Can a sovereign rule his subjects without considering their general welfare? If a king rules unconscionably, do his subjects have the right to replace him? In the play Richard II, Richard is not at all a man of his action. Whenever a problem arises, he talks to himself or the surrounding people, but does not do anything to resolve the problem. He is not ready to stand up and do something about it, and instead complains about the situation to himself. It is because of this trait that Richard loses the kingship of England, and Bolingbroke , a man who is always ready to take action when a problem arises wins the throne over Richard. In the first scene, where Bolingbroke accuses Mowbray of killing Gloucester, Richard plays a major part in the action and at first look, gives the fascade of being a man of action because of his handling of the Mowbray-Bolingbroke situation. When Richard pronounces that Mowbray and Bolingbroke shall fight to the death "At Coventry upon St. Lambert's Day" (I, i, 199), the reader could mistake this act of showmanship as the act of a leader who was ready to stand up and take action when a problem arises. However, in Act 1 scene 3, Richard's order for Mowbray and Bolingbroke's lives to answer their blame was only to fuel Richard's own desire to be the centre of attention; it was his showman quality that leads him to do this, not his ability to take action when a situation that required good leadership skills arose. A true man of action would not simply accept what was hap... Free Essays on Richard II Free Essays on Richard II Richard II is sometimes seen as a problem of conflicting values of obedience to a divinely appointed king and of a country’s need for a strong, just, and ruler. By bowing down to the needs of his subjects, a king allows others to dictate his actions and hence compromises the essence of his power. Ironically, failing to heed the desires of his subjects transforms a king into a self-indulgent tyrant and propels his kingdom towards ruin and decay. Can a sovereign rule his subjects without considering their general welfare? If a king rules unconscionably, do his subjects have the right to replace him? In the play Richard II, Richard is not at all a man of his action. Whenever a problem arises, he talks to himself or the surrounding people, but does not do anything to resolve the problem. He is not ready to stand up and do something about it, and instead complains about the situation to himself. It is because of this trait that Richard loses the kingship of England, and Bolingbroke , a man who is always ready to take action when a problem arises wins the throne over Richard. In the first scene, where Bolingbroke accuses Mowbray of killing Gloucester, Richard plays a major part in the action and at first look, gives the fascade of being a man of action because of his handling of the Mowbray-Bolingbroke situation. When Richard pronounces that Mowbray and Bolingbroke shall fight to the death "At Coventry upon St. Lambert's Day" (I, i, 199), the reader could mistake this act of showmanship as the act of a leader who was ready to stand up and take action when a problem arises. However, in Act 1 scene 3, Richard's order for Mowbray and Bolingbroke's lives to answer their blame was only to fuel Richard's own desire to be the centre of attention; it was his showman quality that leads him to do this, not his ability to take action when a situation that required good leadership skills arose. A true man of action would not simply accept what was hap...

McDonalds Company Analysis

McDonalds Company Analysis There are a number of local business establishments which are characterized by a properly chosen JIT (just-in-time) philosophy and helpful approaches to manufacturing planning and obligatory control (Vollmann et al., 2005). Each industry develops considerably taking into account customers’ demands, expectations, and interests; and one of the most successful industries is considered to be the food one.Advertising We will write a custom essay sample on McDonald’s: Company Analysis specifically for you for only $16.05 $11/page Learn More Modern business environment undergoes numerous changes day by day, this is why each establishment has to take particular steps in order to grow and gain prosperity required. McDonald’s is the fast food business establishment chosen for the analysis in this paper. This company is one of the most successful examples of how JIT philosophy turns out to be helpful to organize services, satisfy customers, and cre ate products in accordance with customers’ expectations. The essence of JIT philosophy is all about minimizing waste that is possible during the process of manufacturing in order to â€Å"subdivide waste into time, energy, material, and errors† (Vollmann et al., 2005, p. 301). The success of JIT is possible in case service operations remain repetitive, qualitative, and innovative. In other words, JIT philosophy that is used by the representatives of McDonald’s establishment has to involve all types of manufacturing-like operations and services. For this organization, it is not enough to demonstrate the quality of services and products in one particular place and time but promote this quality in broader meaning: for example, â€Å"in order to ensure process quality, it industrialized the service delivery system so that all workers would be able to provide the same eating experience around the world† (Lai Cheng, 2009, p. 16). To make use of JIT philosophy properly and succeed in the chosen business, it is very important to identify what McDonald’s’ customers may expect from this establishment. Martin (2008) admits that â€Å"satisfaction is based on expectations† (p. 75). What McDonald’s’ visitors may expect is a high quality of food, fast services of good quality, and comfortable environment.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The evaluation of the production process steps helps to define strong and weak sides of McDonald’s. First, this company aims at providing the best quality of food at lower prices within a short period of time. It means that the main steps of the production process should be getting the order from the customer, transmitting information to the other department, using the best technologies to prepare necessary food fast, proper communication with customer, and satisfaction of customer’s need by providing the order. The process of how the production is introduced to the customer looks like this: The main point about this flowchart is the presence of standardized and non-standardized process steps which may influence the quality of service and its speed. High quality of services and fast speed provided are the major advantages of McDonald’s company. This is why to support the chosen way of service, it is very important to define standardized production and try to improve its quality as frequent as possible. The organization under consideration makes use of standard production like hamburgers, cheeseburgers, or fish burgers (innovation). The customer who comes to this fast food organization is already aware about the variety of possibilities, this is why less time is spend to make a choice and to prepare the order. As for some non-standardized process steps, they are connected to the quality of food that may be required by the customer. The effectiveness of the process that is demonstrated by McDonald’s is evident indeed. First of all, many people are eager to visit this establishment all the time. It means that they are satisfied with the services and the quality of food and that they have already done their choice and they are satisfied with it. As for my personal opinion about the effectiveness of the process and services presented, I think that McDonald’s is one of the most successful and caring organizations in regards to their customers. They try to present fast services; they pay attention to each customer; and they work for people to save people’s time and efforts. The idea to create McDrive is another powerful attempt that helps to attract more customers and demonstrate that good and fast services are still possible and available for people. To improve the process, several ways may be used.Advertising We will write a custom essay sample on McDonald’s: Comp any Analysis specifically for you for only $16.05 $11/page Learn More One of the most evident problems in many countries is connected to lack of places for customers. Very often, when people make orders and get their fast food ready, they are deprived of the opportunity to find a free table to enjoy the meal. This is why to attract more attention, it is possible to enlarge establishments and give people more space. In this case, all customers may come to this fast-food restaurant and be sure to get an order quickly and find a free space to have a rest. In general, the quality of service in McDonalds is good indeed. People know what to expect from this establishment; they can even evaluate how much time they should spend at this restaurant; and what is more important they know that prices are stable there, and their costs may be evaluated beforehand. Reference List Lai, K Cheng, C.E. (2009). Just-In-Time Logistics. Farnham: Gower Publishing Limited. Martin, N. (200 8). Habit: The 95% of Behavior Marketers Ignore. Saddle River: Pearson Education. Vollmann, T.E., Berry, W.L., Whybark, D.C., Jacobs, F.R. (2005). Manufacturing Planning and Control for Supply Chain Management. New York: McGraw Company.

Revolt of the masses Essay Example | Topics and Well Written Essays - 750 words

Revolt of the masses - Essay Example According to the Revolt of the Masses by Jose Ortega the masses has been described in detailed to mean a multitude that is considered through the numbers. He accounts for the masses as a collection of numbers that are discriminative against the minority. He depicts on a new sociological order that he referred to as the masses, which he also says is not a just an ordinary person and is not associated with any particular caste or class. The description he gives to the masses is that they are those people who are products of historical development of the European nations, those who were born for the first time in Europe.According to the description of Ortega to the masses is not enjoyable as he describes them as those who cannot be described by any discipline.The description Ortega gives to the masses is that they posses no quality that can be related to excellence and as he borrows from Goethe, he describes them as ‘to live as one pleases is plebian’.He assets that the mas s man demands more than what is suppose to be accorded to them and have a feeling that it is their right to have it when only a century ago,a group of people considered minority considered that a privilege. The contribution of Ortega in this case shows that he concluded that the nineteenths century provided grounds for the development of a unique lot that would constitutes a dominant social force come the twentieth century.This he said was not going to be a conduit for the development of aristocratic culture that had been the culture for a number the entire millennium. Who are the minorities? Contrary to the masses, Ortega had a different consideration for the minorities whom he described as those with qualifications unlike the masses whom he considered not to be qualified. Ortega considers the minorities to be the most progressive people in the society and who endeavors to create stability in the way socio-political issues are managed. Whereas the masses are ignorant about what the y should demand for, the minorities consider those that are demanded by the masses to be privileges (Gasset 111). The minorities are conscious of very many things in the societal set up and are perceived to be progressive in their dealings, which is pure contrary to the masses. The minority are considered to be better that the masses because they are more qualified, they use their qualification to rationalize issues and are involved in transcending the culture of totalitarianism and authoritarianism. The minority have dedicated their efforts to ensure that there is ne order in the society that allows for justice for all, a system that will provide a level field for dealing with all people irrelevant of the societal status. These qualities were depicted by Ortega and decided to consider the minority as the most preferred people against the masses that seems to be mindful about themselves. Conclusion and assessment of Ortega’s View A careful read of Ortega’s literature w ould give one a sense of understanding of what the mass man is, Ortega describes the mass man as one who is self centered and do not have a feeling of the rest, they do not want to appreciates other culture or see them prosper and knowledgeable on anything. They are very discriminative on everything the minority does; a classical example that can be related in this case is the presence of the Jews in Germany, the Jews were considered the minorities in and faced the most brutal discrimination in the world. Under the leadership of Adolf Hitler who also was a staunch Nazi sympathizer, most of the Jews in Germany were persecuted in millions and one incidence that can be quoted in this case is the holocaust incidence in which million of the people were killed. Ortega’s views in the Revolt of the Masses clearly explained the aggression tendency of the masses towards the minority. Ortega explanation of the masses was later manifested in Europe when the minorities were discriminated against,

Management in the 21st Century Essay Example | Topics and Well Written Essays - 1250 words

Management in the 21st Century - Essay Example It is evident that this is after the interactions between the public, universities, students and the private employer organizations on the theme of employability. The principle of potentiality is now a comparative indicator for university performance. The principle is also used to compile university league tables as an obligatory dimension for the justification of higher education. This helps the HRM’s to have the ability to expand out of the organizational habitat into the wider social body.1 The enquiry into the HRM’s ethics is boosted as the expansion occurs due to dissemination of the system of ethical values to a new set of stakeholders. The ethical values are based on employment and the possibility of work as a fundamental part of the meaning of students’ whole personal lives. How the HRM handles the younger generations has revealed the dynamic formation of an ideal ethos of work in an environment the HRM is culturally free from its normal organizations and constrains. It is apparent that in the sphere of employability HRM is unrestricted by the formal context governing an employment contract. Jones says that there is need for the transformation of the category of ‘ethics’ into that of ‘ethos’ to investigate HRM’s ethical apparatus in this new domain.2 Employability discourses approach the relation between work and subjectivity very differently. The demands of mechanical uniformity cease to be replaced by new forms of address inciting the audience to a dynamic personal ethical engagement with work and self, instead of bureaucratic obedience to impersonal rules. The emphasis on individual potentiality leads to basic orientation towards work as an opportunity for self-perfection and self-realization. By understanding ethos as a dynamic principle then HRM’s ethics is no longer a matter of static systems of rules. It