Are we too dependent on computers free essay sample

The modern civilization lives in the age of information and the whole information is concentrated in computers. Today millions on servers all over the world contain the whole valuable information about the humanity and the World Wide Web called the Internet. Everyone has access to the net, because they can join it from the PC, a smart phone, a laptop, etc. The mature people are still getting used to the innovations in Information Technology and try to connect their life with computers to be able to follow the current news and the tempo of the dynamic world. The younger generation is much more familiar with the computer technologies and they already cannot imagine their life without computers, as they touch upon every sphere of the human life. Computers serve to help people and make their life easier and their activity more productive, but there has appeared a problem of the computer addiction or dependency, especially among the young people. We will write a custom essay sample on Are we too dependent on computers? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Young people spend the absolute majority of their free time in front of the laptop surfing the web and looking for entertainment. Computer games have become so popular, that children cannot imagine spending time outdoors, but play various computer games, which are often full of violence. The main functions of computers: education and work have lost their primary importance and now computers are mostly associated with entertainment. However, every sphere of human life, including business, economics, politics, science, education – everything depends on computers greatly. Every organization has its own databases which contain all the necessary information required for the work. It is obvious that if something is wrong with the computer, the job is failed. It does not worth mentioning, that the modern age of information has made people dependent of their computers greatly and it influences the human life controversially. On the one hand, people gain the opportunity to fulfill more work and spend less time on it; on the other hand, people lose their identity and interest in life, being absorbed by their PCs, laptops and smart phones.

Analyze the advantages and disadvantages of financial derivatives used by small companies and make suggestions for small companies to better take advantage of financial derivatives. The WritePass Journal

Analyze the advantages and disadvantages of financial derivatives used by small companies and make suggestions for small companies to better take advantage of financial derivatives. Introduction Analyze the advantages and disadvantages of financial derivatives used by small companies and make suggestions for small companies to better take advantage of financial derivatives. IntroductionAdvantagesDisadvantagesSuggestionConclusionReference:Related Introduction In the present-day society, with the development of globalization, small companies are struggling to survive in a severe environment. Not only do they have to compete with large companies, but also are affected by the impact of fluctuating economic climates. Under this environment, they have no choice but to seize every chance to increase profits. A feasible method is by using financial derivatives. These financial instruments, which are linked to a specific indicator, commodity or other financial instruments, can receive great rewards with only a small amount of investment.   This essay first discusses four main financial derivatives: forwards, futures, options and swaps. Then analyze the pros and cons of financial derivative usage by small companies. Finally, suggestions are made for small companies to better take advantage of financial derivatives. Definition of small business â€Å"A small business is a business that is privately owned and operated, with a small number of employees and relatively low volume of sales. Small businesses are normally privately owned corporations, partnerships or sole proprietor ships. â€Å" In this article, the four main group of financial derivatives discussed are forward, futures, options and swaps. They are basically business contracts made either in the financial market or individually negotiated between parties. Forwards and Futures obligate one of the parties to buy and another to sell a specific asset at a specific price on a specific date, Options give one party the right of selling or buying, not the obligation. Meanwhile, Swaps have obligations and rights set to exchange one security for another to alternate quality of issue, or investment objectives. In the research of (Kosik and Pontiff 2004)[3], among all the categories of derivatives, foreign exchange derivatives, interest rate derivatives and commodity price derivatives are the most frequently used derivative instruments by small firms. Advantages To start with, the most noticeable advantages for small companies of using financial derivatives are in the financial area. This includes predicting a future price trend, stabilizing costs and maximizing sales profits. When the company is concerned about the derivative market, the price of futures and options and commodity price derivatives can easily help it to predict the future price trend of its raw materials. Thus wise decisions on making instant large purchases or future purchases could be made. If the predictions prove correct, unnecessary expense on raw materials can be avoided. Another way small companies could take advantages is to stabilize their purchase costs. If the company enters into a commodity price forward contract, it could possibly stabilize its purchase costs. Since engaged in these derivative contracts, the company has accepted to buy a certain commodity at a special price, thus the purchase cost is fixed in contractual format. Or it could use foreign currency forwards and options to minimize the impact of exchange rate fluctuation in the same way. (Bodnar and Marston, 1988).[4] A third area a small company could benefit from utilizing financial derivates is to maximize its profits. A foreign currency forward or option contract with its distributors, the company is able to sell its products with fixed sales income in domestic currency. As a result, no more price or exchange rate fluctuation could influence the company’s sale revenue. There are three other advantages caused by derivative instruments. These are: increasing business reputation, expanding the company to enter the finance industry, and training the management team to handle more complex finance problems. There is a further explanation that derivative instruments can increase business reputation. When a company fulfills all the obligations and duties that the derivative contract included, distributors may think it a creditable partner and shareholders may give more credi t to their invested entity as well. The second advantage is that a small company can gain opportunities to enter the high level of financial markets for its frequently participation in the derivative market. It is beneficial for the future development of the company. Through earning large quantities of short-term return, the firm’s volume could be increased and expansion into the financial markets could be realized (Gay and Nam, 1998).[5] Finally, the management team of a small enterprise could get plenty of experience in dealing with these advanced financial instruments. This could train them for better understanding of the whole economic trend, so they are better prepared for future financial work, benefiting the company in a fundamental way. Disadvantages Aside from all the possible advantages financial derivatives can bring for small companies, there are also corresponding disadvantages. Just as proper managing can cut down on material costs and maximize sales figures and profits, if used inappropriately, derivative instruments may result in huge losses or even bankruptcy for small companies. The most recognized disadvantage that financial derivatives could bring about is financial difficulty. In this situation, it is hard to professionally handle the derivatives instruments, the consequences would be terrible. One appropriate example to illustrate the huge financial losses caused by derivative use is that five to six small firms in India have engaged in a lawsuit with private-sector banks with some improper handling of the derivative product, causing ten million losses on derivative instruments.[6] In the second place, if the prediction is incorrect, a commodity price or foreign exchange future or forward contract will raise the purchase costs for small firms, for that this kind of derivatives sets the future amount due fixed whatever the future prices or exchange rate would be. In a similar situation, when arrangement is improper, interest rate derivatives will cause fund costs to rise. That is because the interest rate derivatives have set a limit to the funding costs. As a consequence, when the interest rate descends, funding costs are increased, leading to financial trouble for the small enterprise. There have some other disadvantages come in other area except for finance. When company failure on derivative markets, shareholders, creditors and other relevant parties tend to be lose their confidence in the company’s performance, therefore, it will face a much worse financial position. Shareholders may start to sell their stocks, and creditors may ask for early repayment of credit. Under these circumstances, the reputation of company may be seriously damaged. Another drawback is the management team of the company may feel frustrated about their poor operation on derivative instruments, thus losing morale for attempting another innovative financial instrument, which could possibly put the enterprise into a more difficult situation. Suggestion After analyzing the advantages and disadvantages of derivative instruments which are used for small enterprises, some suggestions for making full use of these instruments can be made. Taking two fundamental factors into consideration, they are the size of firm and the special characteristics. Forwards, futures and options are recommended for frequent use, whereas swaps should be carefully used. When investing in these financial instruments the level of risk involved the selection of the type of derivatives. Conclusion To sum up, from comparing the advantages and disadvantages of derivative investments, it clearly can be seen that certain type of derivatives, such as forwards and futures, when used properly can bring visible benefits for small firms. On the other hand, when inappropriately used, derivative instrument may result in huge losses and even bankruptcy. Thus, the conclusion is that small companies can take many advantages of financial derivatives as long as they pay sufficient attention to their investments.    Reference: 1. The International Monetary Fund.(2008) Financial Derivatives. Available from: imf.org/external/np/sta/fd/index.htm [Accessed on September 09, 2010] 2. Small business .Available from:http://en.wikipedia.org/wiki/Small_business [Accessed on September 09,2010] 3. Koski, J. and Pontiff, J. (2004).Wiley Interscience. How are derivatives used.Availablefrom:http://www3.interscience.wiley.com/journal/119065624/abstract?CRETRY=1SRETRY=0. [Accessed on September 10, 2010] 4. Bodnar, G. and Marston, R. (1998). The Wireless Center for International Financial Research.1998 Survey of financial risk management by U.S. non-financial firms. Available from: http://finance.wharton.upenn.edu/weiss/survey98.pdf   [Accessed on September 09,2010] 5.Gay, G. and Nam, J. (1998). The underinvestment problem and corporate derivatives use. Financial Management 27(4):53-55 6. Reuters India. India Axis Bk: clients’ notional derivative loss $169mln. http://uk.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUKBOM14592320080421.[Accessed on September 09, 2010] 7. Pennings, J. and Garcia, P. (2004). Hedging behavior in small and medium-sized enterprises: The role of unobserved heterogeneity. Journal of Banking Finance 28: 951-978.

White-Nosed Syndrome in Hibernating Bats. Chelsea Essay

White-Nosed Syndrome in Hibernating Bats. Chelsea - Essay Example This is shown by studies of bat species in Europe and America. None of these species is similar. The reasons for lack of the disease in Europe may be because the bats in Europe may be carriers or it may be due to their habitat characteristics where they roost in small clusters or alone. (Kocer, 2012). The confirmation test for White – Nose syndrome is done by taking samples of fungal lesions on the muzzles of bats. UV fluorescence is also used as a screening tool for the presence of the causative agent of WNS. On been undertaken through the process of UV fluorescence, the wings of infected bats fluorescence with a yellow speckling pattern on their wings. False positives are produced by the fluorescence of the muzzle area (Kocer, 2012). There is hope for treatment of WNS. Laboratory tests have shown the causative agent of WNS is susceptible to various axole antifundal drugs. The fungus is also temperature dependant that is the reason why it infects hibernating bats. Optimal functioning temperature for the fungus is 12.5 15.8 0C. Current research is ongoing to slow its progression over long distance by reducing human transmission. A national WNS plan has been set up to tackle the disease (Kocer,

Blue Velvet Essay Example | Topics and Well Written Essays - 500 words

Blue Velvet - Essay Example The premise of the film being a horror fits into the niche of film noir. Acceding to Dancynger film noir "highlights the world of the nightmare, it tends to rely less on movement and pace.' (Technique of film and Video Editing (p 175) I chose to use the word intellectual as part of the theme because film noir has an abstract side to it which encompasses my intellectual basis regarding the film. and considering the theme to be one of intellectual horror. The foundation of the movie revolves around the dark side of human nature, which combines both horror and intellect. To be more specific regarding the film and its theme if the theme is an intellectual horror which theme certainly includes the dark side of human nature and that is the main reason I have identified the theme of Blue Velvet to be an intellectual horror. The thematic montage is one of angst and the dark side of human nature that it stems from. The recurring image of the home is Lynch's way of introducing the theme each t ime the image of the home appears. Many objects are discovered out of sequence during the film. Here is a list of images Used by Lynch to emphasize the theme.

Ethics in criminal justice Essay Example | Topics and Well Written Essays - 750 words

Ethics in criminal justice - Essay Example The selective enforcement of laws is only rarely an outcome of law enforcement corruption.. An overview of history evidences that during periods when the perpetrators of a particular type of crime occupy a position of singular importance, there is a tendency to `look the other way.’ This was the case during the 1920s with Prohibition, to name but one example. Selective enforcement as determined by the relative power of the perpetrators is immoral and ethically indefensible. More often than not, the selective enforcement of laws is predominantly, a consequence of volume of crime versus the resources at the possession of law enforcement forces. In the not uncommon periods where violent crime rates supersede non-violent crime rates, law enforcement tends to direct its attention to the latter and overlook victimless crimes within the context of the former. The implication here is that law enforcement may overlook crimes of possession or substance abuse consequent to the imperatives of focusing resources on the combating of the drug trade itself. Likewise, law enforcement is unlikely to enforce laws pertaining to petty shoplifting when resources are better expended in the combating of aggravated assault, grand larceny and armed robbery. The implication here is that the selective enforcement of law is a consequence of priorities. Even while conceding to the fact that absolute ethics dictates the uniform implementation of all operational laws at all times, law enforcement’s failure to do so is not indicative of a breakdown of ethics. In fact, given the motivations for law enforcement’s selective implementation of laws, their doing so may be categorized as an exercise of utilitarian ethics. In accordance with utilitarian ethical systems, both the reasons which motivated an action and the consequences of the said action determine

The UK Tourism Industry: Benefits And Challenges

The UK Tourism Industry: Benefits And Challenges This report provides a product and market development strategy for the UK tourism industry. It focuses on the benefits and challenges of the UK tourism industry. The background history of UK and the overview of the scope are revealed in this study. It also outlines the vision, mission and its strategic objectives. The report highlights a summary of the key findings of strategic marketing audit of the UK tourism sector. The findings of the report are used to develop a strategy for increasing the economic benefits of tourism to UK. The strategy for overcoming the challenges in order to increase the number of individuals visiting UK for tourism is disclosed in this report. The report concludes by making strategic recommendations for areas of growth in tourism activities in UK, development of products and resources needed to ensure viability. More so, significant barriers to implementing those recommendations are identified throughout the report to address the concerns of stakeholders of the industry. Summary of Key Issues and findings The summary of key issues and findings that Britain needs to address in order to improve upon her global competitiveness includes; The importance of local market and business markets Growing Competition New Trends in Demands Competition from emerging destinations Taxation of accommodation and food Entry Visa and Increase in Price Climate Change Build on Britains image and increase distribution through the trade Britains major source of market and Britains core market However, only five points would be discussed in the body of the report and the rest will be sent to appendix 1. Definitions, methodology and framework Definitions This section seeks to explain strategic positioning and tourism. What is strategic positioning? According to Michael E. Porter, (1996) strategy is the ability to make an informed decision on how, when and where to target a customer group, facilitate resources and set objectives (limits) makes the difference between managers who thinks from a strategic perspective in light of what might emerge in future. Lovelock (1991), describes positioning as the process of establishing and maintaining a distinctive place in the market for an organisation and/or its individual product offerings. Putting them together, Strategic Positioning is the positioning of an organization (unit) in the future, while taking into account the changing environment, plus the systematic realization of that positioning (source:http://www.zenska-mreza.hr/prirucnik). What is Tourism? According to, Guyer Feuler (1905), Tourism is a collection of activities, services and industries which deliver a travel experience comprising transportation, accommodation, eating and drinking establishments, retail shops, entertainment businesses and other hospitality services provided for individuals or groups traveling away from home. Tourism can be categorized into Domestic, Outbound and Inbound. Domestic tourism involves people taking holidays, short breaks and day trips within UK. The outbound tourism has to do with the peoples movement from UK to other provinces, territories or countries to explore. The inbound tourism involves individual traveling from other places such as Ghana, Togo, USA etc. to UK Methodology This report seeks to focus attention on the benefits and challenges of tourism industry in UK. The methods used in completing this report include; Literature review (Journals, Books, Articles and the internet) Data analysis at UK, both national and sub-national level Stakeholder engagement Conceptual framework The study adopted marketing framework to explain the functions that links the business with customer needs and wants in order to get the right product to the right place at the right time. Overview of the marketing process (Adapted from tutor2u, Riley (2012) Mission, Vision and Strategic Objectives The Mission To increase tourisms contribution to the growth and development of UK economy. The Vision UK is globally recognised as one of the worlds leading regional destinations for conference, business, sporting and other recreational activities. The country is noted for her high quality facilities, cultural and entertainment. In view of this, the report seeks to; Improve the UK share of tourism worldwide and employment and quality of life. Increase UK share in global visitor market. Strategic Objectives Maximize tourism visitation, spend and length of stay Attract investment in tourism related products Increase industry participation in marketing activities through industry engagement Improve tourism related community assets/products. improve the engagement of visitor with products Improve market access and connectivity Developing and marketing competitive tourist destination in UK Build on Britains image and increase distribution through the trade Improve the range of product on offer and make it easier to get to Britain Introduction This chapter provides the background history of UK and the overview of the industry. Background History Current state of UK The United Kingdom is a country that consists of England, Scotland, Wales, and Northern Ireland. It is a wonderful country with diverse culture and tradition. It is highly belief that, the nature of the people in the country, its landscapes, culture, character, history and traditions; its achievements, impact, successes, and standing; and its future, its vision, its potential makes the country Great. The aforementioned characteristics of the country has reckoned its own people, and people from across the world to see Britain, to know Britain and to understand Britain (Source: Former Prime Minister, Tony Blair). The country is a Member of plethora organisations which include the European Union, North Atlantic Treaty Organisation (NATO), Commonwealth of Nations, World Trade Organisation (WTO), and Organisation of Economic Corporation and Development. UK has the permanent seat on the United Nations Security Council. Through tourism contributions, United Kingdom is the world sixth largest economy and Worlds first industrialized country with a population of over 62.4 million (Ref. UN, 2011). The Overview of Tourism Industry in UK Tourism industry in UK has immensely contributed to the economic development in the country. The industry occupies a unique position as the UKs 5th largest industry, 3rd largest export earner behind chemicals and financial services and worth  £115 billion a year. Besides, it employs over 2.6 million people and supports over 200,000 Small Medium Enterprises (SMEs) (source: VisitBritain.com, 2012). Overseas visitors spend around  £18 billion a year in this country and they contribute more than  £3billion in tax and duty to the Exchequer (VisitBritain Consultation Document, 2012). Research has revealed that, tourism in UK is extremely growing faster than any other economic sectors. It is outpacing mining, agriculture, and fishing as a leading industry for the country. One could see the value of tourism in UK is extremely high. Although, the industry has been helpful to the countrys economy, there has been stagnation of growth recently, due to few key issues and challenges. This has made the industry to decline to the seventh position in the international tourism destination. This result is based on the visitors attendance and expenditure (Ref. UNWTO, 2011). It means that, France, USA, China, Spain, Germany and Italy are all ahead of UK in the tourism hierarchy (Ref. UNWTO, 2011). The question here isà ¢Ã¢â€š ¬Ã‚ ¦. `what might be problems or challenges resulting to poor attendance of tourists in UK. It is argue that whiles UK tourism performs well, international tourism is fiercely competitive business and their competitors are upping their game (VisitBritain.com). The industry is facing problem on how to create a competitive, world-class tourism industry in Britain which can match both the quality and the best of British business as well as the scale of tourism in Britain in particular. Situational Analysis: The UK Tourism Industry and its Competitiveness The Value of Tourism to the UK Economy The contribution of UK tourism industry to the national economy demonstrates the magnitude and complexity of the industry. According to VisitBritains CEO, Sandie Dawe (2012), tourism has tremendously contributed to the development of UK economy. To her, the industry can grow by more than 60% which would be amounted to about  £188bn by 2020. Besides, the number of jobs directly and indirectly linked to tourism could rise by 264,000 to 2.89 million by 2020, (source: VisitBritain). Value of Tourism (Adapted from VisitBritain.com) Deducing from this, one could see that, tourism is a major contributor to the balance of payments. On the contrary, it is one of the few activities which would enable UK to achieve competitive advantages through the redistribution of labour within Europe (Economist, 1993:5-6). It is also a vital motivator of the UK economy reducing the deficit of the balance of payments, boosting employment, generating income, and contributing to regional development (Zacharatos, 1989:274; Truett Truett, 1987:178). In fact, tourism per se is one major generator of wealth in UK economy. The contribution of the tourism industry in the UK economy has been very encouraging. As of 2010, the contribution of tourism has a total revenue of  £110 Billion and 2011- £120 Billion per annum (UK Tourism Statistics, 2012). Visitors ( £m) Spent ( £Bn) Leisure 11.5 6.6 Business 6.8 4 .0 Students 0.5 1.4 Other 2.4 1.2 In 2011 (Ref: International Passenger Survey, 2011) * 1% increase in the cost, meaning, tourism earning drop down by 1.3% (Sensitive Tourist, 2001) 3.2. UKs Position in the International Market However, the industrys position in the international market chart has been falling for the past 3 years now. This is because the competition in the global market place has become very tough as a result emerging destinations and other outstanding destinations such as France, Italy, Malaysia, Turkey, U.S.A etc. Although the industry was able to beat the cut-out point set for year 2012, yet the countrys position in the global market is still declining. In 2011, as illustrated in Tab.1 below, UK came in the 7th position in the world classification of tourist destinations. The growth in global travel over the last two decades means that UK is competing against more destinations, for a larger number of potential visitors (VisistBritain.com). Strategic Key Issues Findings Facing The Industry The following key themes are outlined from the strategic audit based on research and findings in appendix 2 and 3. The importance of local market and business markets The local and business markets are seen as the UKs core markets. Research conveyed by VisitBritain has revealed that challenging facing UK international tourism does not only come from economic trends and competitive activity, but source market also poses unique complications. The local market consists of Western Europe and its surrounding nations such as France and Italy. France, Spain, Germany and USA generate 1/3 of all money spent by visitors in the UK economy (Visitbritain). However, since 2006, UK has lost these market shares and visits. This indicates that, Britain needs to defend volume, value and market share of these areas. New Trends in Demands The International tourism is moving to a level where consumers are demanding in new and varying activities which would engage them always. Consumers are demanding for new areas such as eco-tourism, health-tourism, sports-tourism, and activity-tourism and education tourism. This means tourists are no more interested in the culture or geographical location of the country. Therefore, in order to attract the attention of tourists, the industry should turn their attention on activity tourism, education tourism Growing Competition and Competition from emerging destinations Competition from existing and emerging destinations is another challenge. The emerging destinations like China, Malaysia, and Dubai are the countries that are growing at a fast rate in the tourism industry. Competitors are moving at fast rate, investing in marketing campaigns and addressing policy issues. For example, US government recently has published tourism strategy and national travel to deal with the visa process, border controls and issues of image. However, the major challenge here is how to create a competitive, world-class tourism industry in Britain which would match both the quality and the best of British business and innovative policies to create value and enhance of competitiveness. Emerging Markets The competition in the global market place has become very tough as a result of emerging destinations and other outstanding destinations such as France, Italy, Malaysia, Turkey, U.S.A etc. The strategic audit has outlined China, Turkey, Malaysia, Dubai and Egypt as the key target areas for tourism growth. Although the industry was able to beat the cut-out point set for year 2012, yet the countrys position in the global market is still declining. This has resulted because the global marketplace is getting tougher and countries like France, US, China, Germany and Dubai have recognized the potentials of tourism. This has awakened them to deliver growth and jobs in a tough economic climate. Taxation of accommodation and food Research has revealed that UK hotels and restaurants overtaxed in detriment to revenues for the wider economy. Thus, most UK hotels and restaurants charges full VAT rate on tourist accommodation, meal and attraction. There are several shops and restaurants in UK that charges tax on everything tourists buy. A notable example is McDonald- any food bought from McDonald has been tag with tax. This has demoralised most of the tourist to visit UK. Entry Visa The difficulty in accessing entry visa to UK is another factor inhabiting Britains competitiveness as a destination for international tourism. It is an established fact that, for one to get tourist visa to UK is very difficult. Apart from difficult visa process, it is also expensive as compared to other tourist destinations. For instance, to get a tourist visa to UK, one has to pay an Amount of  £78 whiles Schengen visa is  £53. So comparatively, people would prefer going to Germany, France and other destinations in lieu of UK. This has resulted poor performance since visitors from china, India and other African countries are now visiting Germany and France. Climate Change The weather condition in UK is seen as a drawback and hindrance to tourism in United Kingdom. As the weather in UK is unpredictable, tourist most often complain of been disturbed by rain and unfavourable weather conditions. This has negatively affected the industry since most people are discouraged and lost interest in embarking on tourism to UK. Developing Strategic Options from the above Analysis The findings above outline a number of challenges facing the tourism industry in UK. This section will develop a strategy that would be used to increase economic benefits for the countrys tourism industry. It would also outline a strategic approach to destination marketing (refer to appendix 2) in order to increase the number of individual visitors. It will develop a brand for UK tourism to get a sustainable presence in the global tourism market place. Pursuing local and business markets The industry should increase domestic visitation and focus on the local which is UKs core market. The UK industry should not ignore its local market and business markets whiles the emerging destinations such as China, India represent long term opportunity for growth. The industry should use advertisement, motivation and rewards to encourage the indigenes of this country to embark on domestic tourism. This will smell good for those outsiders to develop interest in visiting UK. Strategic development of clusters Clusters occur as a result of both vertical relationships with suppliers and customers as well as horizontal relationships based upon shared technologies and common customers (Barker, 2007). Thus, in order to increase economic benefit of international tourism in UK, the industry should aim at forming a cluster that will bring group of industries on board. The presence of the cluster will accelerate and magnifies the process of factor creation in the industry. Once the cluster is formed, it allows companies from the interconnected industries to invest in infrastructures, technologies, information and human resources to improve economic benefits of the tourism industry. Japan, for example provides a compelling impact of clusters on a countrys competitive advantage. In Japan, Keiretsu has formed a cluster of companies around the major banks with shareholding connections (Barker, 2007). This has encouraged cooperation and interaction. In simple put, the scale of the cluster will encourage greater investment, specialization, exchange information and ideas about market needs. Porter on cluster has cited several examples and it will be interesting to observe that clusters are active and strong in Japan, Italy, Sweden, and Germany. However, it is very weak in UK Strategic destination alliance Research has disclosed that, France, Spain, Germany and USA generate 1/3 of all money spent by visitors in the UK (VisitBritain). However, since 2006, UK has lost these market shares and visits. This means that, UK needs to defend volume, value and market share of these areas. In order to gain market share, the industry should establish a strategic partnership with the emerging competitors. The industry can link up with such destinations to form a league of nations with must visit and must see places. The tourism industry can develop stronger relationships with other private companies in the name of tourism partnership program. This will help to develop and promote cultural tourism and opportunities. Corporate social responsibility strategy Scholars like Friedman (1962), and Grossman (2005) maintain that, the traditional view of a company is that, the company has a responsibility to make as much profit as it can for its shareholders. Alternatively, the stakeholder approach suggested by Edward Freeman in 1984 directs organisations to manage the interest of and acknowledge a duty of care to a range of stakeholders. Based on the traditional view of the industry or a limited stakeholder view of the industry, UK tourism board should focus on using corporate social responsibility to increase positive stakeholder benefits whiles eradicating the negative effects of its action. It has been reported that non-governmental organisations have been donating millions to help in various environmental projects. These projects are centered on environmental protection, climate change, and the promotion of renewable energies. Also, VisitBritain should introduce structures that will engage and communicate with UK tourism industry and stakeholders. This will help to provide a coordinated approach to drive forward the implementation of the Strategic Framework for UK Tourism. The structure will give the industry the chance to share innovative and intelligence delivery as well as addressing key issues and challenges affecting the tourism industry. Notwithstanding that, it will acts as a key mechanism for VisitBritain to communicate with the industry and connect effectively with the emerging destinatioons. Strategic Recommendations To overcome the challenges and maximize the benefits of the industry, the industry in collaboration with UK Government should: Tax elimination There should be tax free tourists and ensure that there is no imposition of tax on any food and accommodation. The government should solicit for funds from private enterprises to support the tourism industry. This will help to eradicate if not reduce tax rate to its minimum. Reduction of tourist visa fee to compete with Schengen visa Thus the amount of money taken from tourists as they apply for tourist visa should be reduced to compete with the other competitive countries. Also the UK government should publish a national travel and tourism strategy which will aim at reducing the tourist visa fee and process, border control and issues of image. This will maximize tourism visitation, spend and length of stay. Expansion of local and international sales teams Use the corporate governance strategy to keep the industry accountable. This will help to avoid any sorts of bribery and corruption in the tourism industry. Have a tourism industry which provides affordable quality, which is open to all and which makes the best use of Britains resources. Summary To sum up everything, Marshal (2012) opine that the challenges facing the tourism industry are complex and numerous. However, the two key among all the challenges are; Tax on accommodation and food and how to create a competitive, world-class tourism industry in Britain. Frankly speaking, addressing these challenges will require a high level of coordination and cooperation to marshal resources more effectively. Fiscal pressures and competing priorities among all tourism partners and tourism stakeholders will require new and innovative partnership arrangements to respond to growing competition and global opportunities (Marshal, 2012). Conclusion This report has provided a product and market development strategy for the UK tourism industry. The background history of UK and the overview of the scope are revealed in this study. It also outlined the vision, mission and strategic objectives of the study. Situational analysis of the industry based on the local market, value of tourism and UKs position in the international market has been scholarly presented. The report revealed a summary of the key findings of strategic marketing audit of the UK tourism sector. The findings of the report are used to develop a strategy for increasing the economic benefits of tourism to UK. The strategy for overcoming the challenges in order to increase the number of individuals visiting UK for tourism is disclosed in this report. The report concludes by making strategic recommendations for areas of growth in tourism activities in UK, development of products and resources needed to ensure viability. More so, significant barriers to implementing those recommendations are identified throughout the report to address the concerns of stakeholders of the industry. To amass everything, it is the objective of the Ministry of Tourism and the Government of UK to create the environment where the industry would do not only teach people to smile but give them a reason to smile. The Government should note the above recommendations a point and legislate new tourism policy ( Hon. Harold Lovel, 2012). Annotated Bibliography Vision, mission, aims and objectives In order for an organization to have clear strategic directions, it must first formulate clear vision, mission, aims and objectives. The following books were helpful in discussing the purpose of the vision, mission, aims and objectives; Dale, C. (2012), Strategic Management for Tourism Senior Lecturer in Tourism University of Wolverhampton Evans, N. C. D. and Stonehouse, G (2003) Strategic Management for Travel and Tourism. Oxford Butterworth-Heinemann, 15-20 Understanding Strategic Position and Tourism Strategy and Tourism have myriad of definitions from a different perspective. It is therefore important to open this report with a brief explanation on strategic positioning and tourism. This will help to facilitate better understanding of strategy formulation and implementation. The following books, journals and articles were helpful in capturing the main conceptualization of strategy and tourism. Capon, C. (2008), Understanding Strategic Management, Prentice Hall: Hemel Hempstead. Lovelock, C. H. (1984). Services Marketing. Englewood Cliffs, NJ: Prentice-Hall. Lovelock, C. H. (1991). Services Marketing. 2nd ed., Prentice- Hall Johnson, G. et al. (2008), Exploring Corporate Strategy, Prentice Hall: Hemel Hempstead. Porter, M.E., (1980), Competitive Strategy: Techniques for analysing industries and competitors New York: The Free Press Tribe, J, (2010), Strategy for Tourism, Goodfellow Publishers, Oxford Overview of Tourism Industry in UK In order to get broad and comprehensive review of tourism in UK, there was the need to research into several books, journals and articles which helpful to this report. As a matter of fact, the following books and journals were able to give accurate information that the researcher was looking for. Butler, R.W. (2011): Contemporary Tourism Reviews: Tourism Life Cycle Strathclyde Business School, Universiity of Strathclyde Goodfellow Publishers Ltd., Woodeaton, Oxford, OX3 9TJ Website- wwww.goodfellowpublishers.com Shaw, S. (2012): International Hospitality Management Program http://www.sprottshaw.com/programs/tourism-hospitality/international-hospitality-management/ Accessed on December 12, 2012 The Economic Importance of Tourism: UK Tourism Satellite .., http://www.ons.gov.uk/ons/rel/tourism/tourism-satellite-account/2009the-economic-importance-of-tourism/rep-2009tsa.html (accessed December 12, 2012). Tribe, J. (2005), The Economics of Recreation, Leisure and Tourism, Butterworth Heinemann, Oxford. UNWTO, EUROSTAT, OECD (2008), Tourism Satellite Account: Recommended Methodological Framework (TSA:RMF), Madrid, Luxembourg, Paris. UNWTO, EUROSTAT, OECD (2008), International Recommendations for Tourism Statistics 2008(IRTS 2008), New York, Madrid. United Nations, Statistical Office of the European Communities, Organisation for Economic Co-operation and Development and World Tourism Organization (2008). VisitBritain Consultation Document (2012) Delivering A Golden Legacy: A Grow Strategy for Inbound Tourism to Britain from 2012 to 2020. Website- www.visitbritain.org Key Issues and Challenges This part of the report is very sensitive to the study; therefore there was the need to get books which would give accurate information about the benefits and challenges confronting the tourism industry in UK. The research made reference from the following books and websites; BIS Economic Paper (2012): Industrial Strategy: UK Analysis Department for Business Innovative Skills, No. 18 http://www.bis.gov.uk Business Management and Strategies, http://teeanthony.blogspot.com/ (accessed December 12, 2012). Marshall, C. (2012), Challenges facing the Tourism Industry in Antiqua Barbuda: Ministry of Tourism and Civil Aviation. Office of National Statistics (2012): The Economic Importance of Tourism: UK Tourism Satellite Account 2009 VisitBritain Consultation Document (2012) Delivering A Golden Legacy: A Grow Strategy for Inbound Tourism to Britain from 2012 to 2020. Website- www.visitbritain.org TOMORROWS TOURISM Home Ask, common questions asked of (n.d.). Retrieved from http://www.eastriding.gov.uk/corp-tourism/docs/TomorrowsTourism.pdf Strategic Options This section of the report focuses on the Marketing strategy and action plan. There was the need to get frameworks and models to support the work. Therefore made reference from the following books below, because these books give accurate explanations to the various strategic options and marketing models; Buhalis, D., 1999a, Limits of tourism development in peripheral destinations: problems and challenges, Tourism Management, Vol.20(2), pp.183-185. Cooper, C. et al., (1998), Tourism: Principles and Practices, 2nd ed, Addison Wesley Longman, England. Digital Startup and Campaign Marketing station in Hyderabad .., http://browsemasters.com/ (accessed December 12, 2012). French Luxury Vacations, http://frenchluxuryvacations.com/ (accessed December 12, 2012). William, J. (2002): H. Igor Ansoff, 83; education drew worldwide acclaim- San Diego Union-Tribune. Retrieved (8/12/2012 http://www.mindtools.com/subscribe.htm. Beatty, C. et al., (June, 2010): The Seaside Tourism Industry in England and Wales: Employment, Economic Output, Location and Trend. Centre for Regional Economic and Social Research Sheffield Hallam University Positioning the Destination Product Bournemouth University ..http://eprints.bournemouth.ac.uk/15749/1/Positioning_the_Destination_Product_-_C an_Regional_Tourist_Boards_Learn_from_Private_Sector_Practice_(for_upload to_BURO).pdf (accessed December 12, 2012). Porter M.E. (1996), What is Strategy?| Reflections, http://jensgulich.wordpress.com/2010/10/22/ / (accessed December 12, 2012). Pima Community College : As with other impacts: Directories, http://ecc.pima.edu/~tourism/Negative%20Impact%20of%20Tourism.htm (accessed December 12, 2012) Tugberks Blog TugberkUgurlu.Com, http://www.tugberkugurlu.com/?page=24 (accessed December 12, 2012 What is the difference between the United Kingdom, Great ..? http://geography.about.com/library/faq/blqzuk.htm (accessed December 12, 2012). Appendices appendix 1 (KEY ISSUES FINDINGS) Increase in Price A research conducted by San Francisco State University indicated that, the prices for local goods and services have increased by 8% as a result of tourism development. What it means is that, tourism development has tremendously increased in both building costs and land values. This is because the rich are now using the lands to build and engage in real estate for tourism purpose. This has resulted in difficulty for the indigenous people to meet the basic needs to purchase lands for their own use. Economic Dependence According to Marshall (2012), over-reliance on tourism, especially mass tourism carries significant risks to tourism dependent economies. He argues that economic recession and the impacts of natural calamities such as tropical storms and hurricanes as well as changing tourism patterns can have a devastating effect on the local tourism sector. Reduction of UK Government fund for tourism industry In addition, the reduction of UK Government funding on tourism industry is a factor. Thus, the subsidy given by the UK government as a supporting aid to the tourism industry has dropped by  £48.0m to  £35.9m, which is 25% decrease in 2011. This has Profile Of A Web Designer | Personal Development Profile Of A Web Designer | Personal Development The job of a Web designer is thrilling as well as adventurous because every day there is new task to do. However, every web designer works individually on individual projects, but there is team of designers who work together and bound to collaborate with each other. The team is composed of multiple designers experienced in particular area of designing. However, working with team is considered as tiring and self-pressing but our team is with the potential to work together while enjoying and satisfying the organizational needs. The thing that makes the work enjoyable working with the team is that team leader and other team members are with the clear objectives and agreed goals. Every team member is surely defined his responsibility for which he is responsible to not only team leader but also team members. This is possible due to friendly and open environment which provides the member with the confrontation. However, at some place the role of our leader is authoritative and dominant but the sound procedure of undertaking of work and other duties remain in cooperation. Even though conflicts rise yet they are solved with support and trust provided to team members by team leader. Personal Role and Responsibilities My role in team environment is as team member and team coordinator. Being team coordinator I have to perform double responsibility first is related to web designing and second is as team coordinator. As a team coordinator, I am responsible for motivating team, managing team and report the team performance to team leader. Thus, I am also committed to participate in the team meetings, preheating team results reports on regularly basis and maintain confidentiality which is required for team members for showing trust. Information dissemination is also one of the important responsibilities of mine. Along with all above mentioned task giving and taking suggestion for improvement is a significant job. Personal Reporting Relationship Reporting is mean of communication for the progress and procedure of task assigned to team members. Team maintains reporting strategy as important part of daily working routine. The reporting relationship of the team member is inward which results in collaborative motivation and group norms. Every member of team, responsible for task assigned to them, report for their working function on the task in written to team leader and team leader further report to other higher management. Being team member I am also obliged to report to the team leader and other collaborative member of the team about the work progress. Since, I also possess responsibility of team coordinator so I must report to management for the performance of the team members. Thus, the reporting relationship I endure is both inward and outward. Operational Links with Other Individuals and Departments Our Web designing team performs under the leading Designing department which also operates the Website Development Department and teams of website development. Thus, the major link our web designing team has with website development and with Web Developers who work on the further work of Website to finalize it after Web Designing. Other departments with which the team has linked with is Quality Control department. The Quality Control department maintains the quality of Website designed by the designing teams and assures that designs are to match the requirements of the clients. Links with Other Businesses and External Agencies The team is managed by the outsourced Human Resource Department which is an external agency. Entire company is managed through the HRD and for training and other management issue related to Human Resource, team leader has to contact with the outsourced Human Resource agents. Moreover, team is to travel to the off-site of the external agency for attending training sessions arranged by the company for the employees. As far as link of the team with other business is concerned, IT experts are the main concerns for that. The main clients of the company are IT related businesses that need to have their website designed for online businesses; formal meetings are held between team members and IT businesses people so that they can explain to understand the requirements of their businesses and other specific requirements to be fulfilled. Task 2 2. Personal Development Journal A Brief Version of Personal Profile I am a confident Website Designer with 1 and half years experience in the professional website designating. I have expertise in XHTML / HTML coding and JavaScript while at intermediate level of AJAX. Moreover, I can also work with server side scripting language such as PHP, JSP, ASP or ASP.NET. Other than this, I possess expertise in PHP framework and database skills such as MySQL. At present job, I am responsible for designing Website using XHTML / HTML coding and JavaScript and PHP framework. I have proven my ability in XHTML / HTML coding and JavaScript and database skills as I can also work on the MySQL. Moreover, I have also proven my ability in server side scripting language like PHP and ASP.NET. My Excellent skills are in HTML coding, CSS, Design Sense, Java Script and Ajax, Flash, SEO and Project Management. I am looking for a position in a professional and multinational company where there is number of opportunity to have professional growth. I am looking for position in Web Designing and seeking an opportunity in media web designing with literal opportunity to work on challenging and unique concepts. I am seeking to continue my career as Web Designer with vast experience working on the different server scripts and also wish to continue my learning in the same field. My objective is to develop a career not just a source of income but also make working experience pleasant for lifetime by delivering professional and outstanding work. Progress on the Study Programme Considering the above professional goals and objectives, there is need to identify the skills required and to use them correctly. When I first started my career as Web Designer I had not realized that to be successful in professional life along with making a career do not only require the professional skills in the field but also need other skills such as working in team or group environment, using effective communication with colleagues and managements and work and time management as the most important key skill required to make path for career. Throughout, the professional period I had I understood the significance of these skills however it was difficult to perform all of them without any guidance. I planned to improve my little expertise in those particular areas and started with enhancing the effective communication skills. However, enhancing the skills require the personal assessment and evaluation, I came up with the target to manage conflicts in working environment by communicating with the team members and team leader. Moreover, time management has been the significant component to achieve the career goals as my career depends on the project management. I learned that time management through planning my tasks with the given time, with prioritizing and arranging my dos and donts. The prioritization of task helped to understand the way tasks are prioritized using tags like Important, Urgent or Neither Urgent nor Important. Team Leader / Manager / Operational Workplace Performance After assessing and evaluating the requirements and undertaking the performance my performance improved at workplace in every role. As a team coordinator I learned to manage the time for performing extra responsibility as before I was unable to manage my two working responsibilities. Now I plan my tasks and duties before I initiate any work and prioritize them accordingly. Initially I found it difficult due to inability to realize the importance of right tasks and estimating the time required to finish particular tasks. After some time, I identified the mistakes I was making in prioritizing and then did the practice for not to repeat them. General Workplace Development General workplace development had been the achievement of the project management by managing my time appropriately. By planning my time and tasks together I was able to perform well even in short period of time. Initially, I found it difficult practice to carry out the planning while maintaining the quality and quantity both as I found it challenging to find a way to cope up with the appropriate time and project management. With the constant practice of 3 weeks, I learned to manage the difficulty with the time management but still I have found that more practice is required to meet the career objectives. Progress on Achieving Goals As described above the professional objectives and goals, I needed to know the work management and it is not possible unless I learn time management. I analyzed my progress on the time management along with assessing my professional skills. At first, it was not easy to analyze my personality but then I started with personal and professional weaknesses and strengths. The understanding with personal as well as professional strengths and weaknesses assisted me to comprehend the way I could plan my task with the given time for finishing the work.

Compare Dickens’ presentation of Scrooge in Stave I and Stave V Essay e

Compare Dickens’ presentation of Scrooge in Stave I and Stave V Scrooge’s presentation in Stave I and in Stave V is very different. In Stave I Dickens presents Scrooge, as a cold-hearted old man who loves himself and hates Christmas. In contrast, his nephew Fred enjoys Christmas with his wife, and is so nice to Scrooge all the time whereas Scrooge is always mean to Fred, (â€Å"Bah, Humbug†). Dickens uses the weather to describe how cold it gets when Scrooge is near; the point that he is trying to make is that he is so mean that his meanness has infected the atmosphere. It tells us that Scrooge is only worried about himself and his money. After Scrooge talking and hanging around with ghosts he goes back to bed and wakes up to reality, and changes all his mean ways. In Stave I, Dickens emphasizes the negative side of Scrooge. Scrooge is well known around his town and one day two portly gentlemen come over and ask for some money for the poor, who can’t celebrate Christmas but Scrooge says, â€Å"Are there any prisons†? The gentlemen replied, â€Å"Plenty of Prisons†, this just tel...

References to the Moon in Paul Austers Moon Palace

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Financial Market Assignment

Financial Market Assignment There are various threats to the financial system that policy-makers and business executives should be aware of. This paper is aimed at discussing some of the most essential risks. First of all, one should speak about insider trading or the use of non-public information while purchasing or the stocks of a company.Advertising We will write a custom essay sample on Financial Market Assignment specifically for you for only $16.05 $11/page Learn More This activity can result in the situation when the executives of businesses or financial institutions can disregard the interests of investors and stockholders and put these people at a disadvantage. The members of the general public will not be able to make informed decisions about the performance of various stocks, and they will lose the trust in the financial trust. So, insider trading can destabilize the financial system. In turn, Ponzi schemes can be described as the financial fraud when investors are compensat ed from the money of subsequent investors. This activity lead to the creation of economic bubbles such as dot-com bubbles. The existence of such market can cause panic in the market, and it can lead to the poor performance of financial system. Additionally, tax-evasion can adversely affect the financial system, because this crime can contribute to the budget deficits. In the long term, this activity can lead to the stagnation of the financial system. Apart from that, lack of transparency can be associated with the financial instability because in such an environment investors may not be fully of aware of their risks (Bouvard, 2012). This argument is particularly relevant when one speaks about the trading of credit default swaps in 2005 and 2007 when many investors were not informed about the potential risk. Significant risks can be associated with the securities market. In most cases, the challenges arise in those cases when securities are not backed up by any assets. This argument is particularly important when one speaks about debt securities. Finally, one should speak about such a threat as manipulation of the market or the action that prompts investors to act in a certain way (Misra, 2012). Very often, manipulation creates a demand for certain types of stocks. For example, the Federal Reserve lowered the interest rate for its bonds, and as a result, many investors chose to purchase the stocks of fraudulent companies such as Enron that deliberately mislead the purchasers of their stock. This is one of the main pitfalls that should be avoided. Furthermore, the so-called currency manipulation or intervention can also pose significant threats to the financial system. In some cases, the fiscal authorities can purchase the currency of the country, and it means that the exchange rate does not reflect the real purchasing power of the currency. This activity can mislead investors and businesses who conduct businesses or carry out financial transactions. This is one of the dangers that should not be overlooked by policy-makers and business executives.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Finally, it is important to speak about governmental action or intervention that can adversely affect the financial system because this policy is not usually favored by investors (Beteto, 2012). In particular, one can mention the decision of the Cypriot government to intervene into the activities of the banks. This decision prompted many investors to withdraw their capital from the country, and in the long-term, it can lead to the stagnation of the financial system and the decline of the economy. Reference List Beteto, D. (2012). Government Intervention and Financial Fragility. Web. Bouvard, M. (2012). Transparency in the financial system:rollover risk and crises. Web. Misra, V. (2012). Evidence of market manipulation in the financial crisis. Web.

Social Responsibility essays

Social Responsibility essays Social Responsibility I dont think scientists should be obligated to consider and figure out how their work will affect society, if they decide to go through with it. Sometimes scientist might not even have their work planned, but then all of a sudden in a daze they formulate a calculation to improve something already in existence or invent something totally new. They would probably become so caught up that they might not think too much of the effects, but instead of seeing the bad contributions they see the good that could be used of their work. Also maybe they believe that the government would control it to where it only benefits society in a good way. If I were in Einsteins place I would probably feel slightly responsible for the consequence of the atomic bomb, which his research in physics helped create. Wonder if Einstein hadnt had come up with the way to create an atomic bomb. Then the Manhattan Project, lead by J.R. Oppenheimer, would have never began. If their atomic bomb wo uld have never been created then the Enola Gay wouldnt have been able to drop the bomb on Hiroshima on August 6th, 1945. Even though their creation did result in massive casualties and deformities for many years after the bombing of Hiroshima, it probably saved more lives than it took. If the Japanese would have surrendered then Hiroshima would have never happened and even after the bombing they still wouldnt give up so three days later another bomb was dropped on Nagasaki. Without the dropping of the bombs World War 11 might have gone on, killing more people then possibly dropping the bomb resulted in. Why should scientist be the only ones to consider what type of effect their work would have on society. Writers should think about the effect their work might have. During the prelude of the Civil War Harriet Beecher Stowes book Uncle Toms Cabin was pub...

Analyze Why I went to the woods of Henry David Thoreau Essay

Analyze Why I went to the woods of Henry David Thoreau - Essay Example Since the present times are driven by digital innovations, facilities and other leverage and benefits being provided through the overall progress, therefore jungle life as is related to the historic people and stone age cannot be lived by the contemporary man based on the facilities and the environment that has been enjoyed by them. His experience is based upon the fact that he had undertaken tests and tribulation towards deciding a place prior to settling at a place. The decision came up after massive investigation and assessment of the places and subsequently deciding upon a place which he could relate to. He was in search of the place that would allow him the feel of nature and keep his soul at comfort and peace. Other purposes behind his expedition and adventure was to realize and assess for the benefits that are being provided by the nature, and the artificial environment that has been overtaken by the mankind which has led to an alienation from the real structure of society and earth and this in turn makes it difficult for the mankind to live in a natural way that comes in form of the woods and jungle life. Hence it can be safely said that these conditions do not apply to the 21st century and a person living in sophisticated urban environment may find it nearly impossible to live in the woods as he does not have any of the facilities that he is used to otherwise. Although the author has taken up the case for the purpose of bring himself closer to the nature and natural existence, yet for any other ordinary citizen it would be difficult to adjust and relate to the woods as there are hardly as facilities that may be available to them in the woods (Thoreau). The purpose of the author was to provide the readers with an insight into the differences and the possible shift over which is often questioned and desired by the person who get distasted from the civilized modern day society and

Entrepreneurship questions Assignment Example | Topics and Well Written Essays - 250 words

Entrepreneurship questions - Assignment Example This discussion shall focus on the earning based approach together with its strengths and weaknesses. Moreover it will focus on factors that may affect franchising over the next ten years. This mode of business valuation is based on the concept of predicting the probability of a business to make profits and more wealth in future. In this case, the valuator may undertake various forms of calculation majorly based on determining future income cash flows by using a company’s records indicating past earnings as well as other records indicating general information of past performance. This is specifically done by creating a normalcy of expected revenue and the multiplying it with a specific capitalization factor. One of the strengths of the earning-based approach is the fact that it involves the use of simple computing methods such as the Price Multiple Earnings. Moreover, this method has been considered relatively more accurate as compared to other methods like asset based approach. One the other hand, it is quite challenging to attain 100% accuracy with this method making its greatest weakness. Increasing business competition is one imperative factor that will affect franchising over the next ten years. This is due to the fact majority of upcoming businesses are exposed to high rates of competition with already established businesses thus compelling them to use business models of these already established businesses. Moreover, varying economic factors i.e. fluctuation of prices that majorly affects new small scale businesses may affect franchising over the next decade; this may compel such enterprises to franchise with already established and financially stable businesses. "EARNINGS VERSUS CASH BASED VALUATION TECHNIQUES." EARNINGS VERSUS CASH BASED VALUATION TECHNIQUES. N.p., n.d. Web. 17 Feb. 2014.