Macroeconomics Assignment Essay

1)Fiscal arrangement is the government’s strategy as for spending and tax assessment. It is set by the government. It impacts our economy in several different ways. Since government spending is a part of total interest government spending on merchandise and enterprises directly affects the degree of total interest. Assessments additionally impact total interest, anyway they do so by implication. When tax’s rise or fall, they change the discretionary cashflow of families, which adjusts utilization. 2)All the diverse government offices present congress with the aggregate sums of cash they might want to run their offices for the following financial period. Congress wrangles and attempts to adjust a total financial plan by affirming and objecting the different sums. In the end the financial plan goes to the Senate for endorsement and then to the President. 3)Automatic stabilizers are components of financial strategy that naturally change in an incentive as national salary changes. Three instances of programmed stabilizers are dynamic personal expenses, government assistance advantages, and joblessness benefits. 4)Fiscal arrangement is diverse in various financial frameworks. The administration will in general assume a bigger job in speculation spending in creating nations. An explanation behind this is state claimed endeavors represent a bigger piece of the monetary action in creating nations then they do in created nations. Creating nations will in general depend more on government instead of the private part to fabricate their schools, streets, and emergency clinics at that point created nations do. In created nations the administration will in general spend more on social administrations then in non created nations. Legislative charges likewise shift. In modern nations standardized savings charges are normal, while in creating natio ns they are uncommon. In creating nations the duties on universal exchange are significant. Monetary arrangement varies extraordinarily relying upon the financial framework. 5)Progressive assessments mean as salary increases so does the pace of tax collection. Backward duties mean the expense rate falls as pay increases. Corresponding expenses mean the duty rate is consistent as salary rises. Assessments are generally dynamic since they help counterbalance the impact of lower pay on spending. 6)Money has numerous capacities. It very well may be a vehicle of trades, a unit of record, a store of significant worth, and a standard of conceded installment. As a vehicle of trade it is readily acknowledged for the installment of items and administrations. As a unit of record we value merchandise and ventures regarding cash. This makes looking at relative qualities simple. As a store of significant worth it isn't short-lived. It is strong, and can hold an incentive over some stretch of time. As a standard of conceded installment obligation commitments are written as far as cash esteems. 7)Liquidity alludes to fluid resources. It is a proportion of advantage that can without much of a stretch be traded for merchandise and ventures. It’s imperative to people and organizations to have fluid resources so as to effectively make buys. 8)A money related mediators are center men among savers and barrowers. The job of them in our economy is to give a sheltered spot to us to store our cash and procure some enthusiasm on it, and to have somebody to pushcart from if fundamental. My bank capacities as a monetary middle person by assuming the job between a saver and a barrower. I may store 100$ in account, making me a saver. The bank may then pivot and credit 90$ to another person expecting to hand truck. The bank charges higher loan costs on the individuals who hand truck then it pays to the individuals who store, this is the manner by which the bank makes its benefit as the center man. 9)There are a couple of various variables that could make the genuine development of cash vary from the extension multiplier. One is if banks hold a larger number of stores than the base required, they loan a littler portion of new stores, this decreases the impact of the store development multiplier. Cash channel (cash being pulled back from the bank and kept in real money) additionally lessens the store multiplier. The store extension multiplier shows the greatest conceivable change, not really the genuine change.

Providian Trust: Tradition and Technology Essay

Business Context/Key Business Drivers * Providian Trust was headquartered in New York. In 1994 it was the tenth biggest supplier of monetary and trustee benefits through its system of 216 branches. * The organization has 3 divisions, Pension and Institutional Trust Services, Personal Trust and Trust Operations * The company’s loaning productsâ€including private and business home loans and shopper and corporate advances. * The Company gradually evaded benefit and rivalry because of the absence of effective business procedures and data innovation. * Michael LeBlanc the Senior VP of Trust, Investment and Treasury stepped up to the plate and handle the undertaking and address the issues looked by Providian Trust. Le Blanc was required to execute the new innovation as well as improving Providian Trust’s business forms by actualizing Access Plus, a significant programming framework created by Select One. * With a planned expense of $18 million and lead-time of 20 months the load up at last endorsed the task in April 1994. * The Key Drivers behind this new activity was serious customer request with respect to PITS division. Low operational productivity obsolete revealing frameworks, absence of control and order in the trust division just put forth the defense more grounded. Activity Objectives/Benefits * Increase Control and Discipline- * PITS and Personal Trust Employees (front office) and Trust Operations Employees (back office) continually accused each other if there should be an occurrence of any deficiency. The New brought together framework should build responsibility, improve straightforwardness and power discipline across divisions. * As referenced for the situation the customers needed to hang tight for 2 to 3 months to get an announcement. To diminish the process duration and improve operational proficiency was a significant target. * Sometimes because of wrong or late articulations Providianâ had to postpone or limit charges, which a few times cost the organization between $2 †$5 Million. * The complete expected sparing by actualizing these progressions should be inline with $9.2 million consistently. Activity challenges * Most of Providian trust officials had 20-30 years of involvement with overseeing customer connections at an individual level and had never utilized or contacted a PC. The old fashioned representatives were incredibly hesitant and impervious to change. The usage of these progressions expected workers to turn out to be more deals and administration arranged rather simply noting and reacting to customer calls. * Internal Auditor Peter Story was a solid investigate of the entire procedure. * Todd Benari, the VP of Trust Operations, headed the venture supervisory group of 15 agents shaped Le Blanc. Le Blanc had no undertaking administration experience himself so he depended intensely on his unpracticed venture the executives. Results I accept despite the fact that the thinking behind the venture is exceptionally solid and laudable, and my comprehension of the case, I am wary about the conceivable achievement of the activity. * Lack of legitimate administration as a result of LeBlanc freshness in venture the executives and Le Blanc is by all accounts the main individual driving the task. A significant explanation I watched was opposition of staff to changes. The Human Resources poor administration and terrible planning didn't support the reason. The choice to lessen the full time staff by 25% or 180 representatives further imparted an off-base sign and the protection from change was employee’s method of communicating concern and feelings. * Lack of legitimate time and quality administration has made sudden detours and obstacles. The Simulations Work Environment (SWE) testing was initially intended to check the viability of the new device. The ridiculous beginning cutoff times, SWE testing never got presented and LeBlanc was not feeling sufficiently great. His interests were approved since the principle clients where for the most part innovatively incapacitated. Because of absence of adequate testing it is close to difficult to comprehend the potential issue that they may look later on after execution and furthermore to realize what sort of preparing is required by the representatives to acknowledge and receive the change. LeBlanc Admitsâ to being stiff necked and doesn't tune in or take into contemplations and overlooked worries of PITS and Personal Trust officials. Importance and examination Importance †* I might want to sum up the focuses talked about and referenced above-* Clear Channels of Communication, convey the changes (by means of the CEO) to all representatives, at that point distinguish and address the purposes behind opposition. * Get workers engaged with the reengineering procedure and take part all the while and disclose the need to do as such? * Have sensible and reachable courses of events †Compile a point by point venture plan. Gap the task into little achievements and set reasonable cutoff times against every achievement. Monitor genuine advancement versus arranged advancement all the time. Execute severe interior and outside review procedure to guarantee quality isn't undermined for fulfilling time constraints. Learning’s- We face hierarchical changes, in actuality. A portion of these progressions can be uncommon. We as directors may have an IT foundation or might not have an IT foundation. The accomplishment of the undertaking doesn't generally rely upon our insight into the change, for our situation the IT framework update it relies upon a directors venture the executives aptitudes. There capacity to follow and look after time, cost, human asset the executives and relational abilities. .

A Problem Solution Essay is not a Challenge!

A Problem Solution Essay is not a Challenge! If you are asked to write a problem solution essay, dont be afraid at the first time, because this type of written papers differs a little from numerous similar assignments. Moreover, this kind of writing is almost a mirror reflection of the cause and effect essays. The best way to make a person solve an issue is to convince him or her of the issue’s importance. That is why, the problem solution essays are so popular among writing tasks. However, the differences are few. It is still a particular sort of papers. Lets have a close look at the meaning of the term. What is a Problem Solution Essay? Problem solution writing deals with grounding of the question and searching for existing answers. When composing the article, you have to mention the situation, challenges connected with it, answers to it, and at last, the issue’s evaluation. You should tackle the studied issue seriously. Who knows, maybe you will improve the given situation! Here, we provide you with useful tips on how to write a problem solution essay to help you save the world and make a contribution to the social needs. Think about a topic. Choose the issue that is not too global, and at the same time, not too insignificant. Think about your major concerns and write them down. Then listen to people’s opinions and words, look for mentions of the topic in newspapers, news, and popular scientific magazines. For instance, remember your district environmental questions, social phenomena, or anything else of great value. It is better to find the way out for the present issues than to create new subjects. Convince yourself in the question’s rationality. This can be seen in the way how you define the matter’s value. Once you find the adequate evidence, you will be able to develop further judgments about this issue. So, gather your knowledge in a particular sphere and try to imagine a variety of possible answers. Collect the information, both written and verbal. Another good way to find exciting and acute ideas for problem solution essay is to conduct a survey. Thus, you will see the most popular concerns. As soon as you find your position, share it with the close friends, parents, teachers, and peers. As a result, you will get a real evaluation of the challenging matter and define the appropriate problem solution essay topics. In this way, you have got several ideas to develop, and it is easy to eliminate one or two than to think up a new one. Dont stop at the very first conclusion that you have found. Work out all the variants, and put the best one into your paper. It is better to learn the topic closely and thoroughly than to pick up ideas in a hurry. Stop and think before using them in your ending paragraph. The more material you read, the more consistent and reasonable your topic is. If the existing information is not enough to accomplish the task, it will be the brilliant idea to conduct your own field research that will serve to collect extra data for your study. Or you may also interview people who are directly connected with a question. This will bring even more scientific value to your work. Besides, you may always continue your studies and compose a more complex piece of writing, such as a dissertation, for example. Problem Solution Essay Structure It will be easy to form your thoughts according to an outline for problem solution essay. Before you actually get to work, make a kind of a plan that can be your guide in composing the coherent and consistent piece of writing. Structure both, the outline and the paperwork according to the Introduction-Body-Conclusion scheme. The introduction should include background information on the topic and describe the key aspects of the work briefly. The body gives full information about the causes, results, and effects to the reader, and always conveys detailed data on approaches and methods of material collection. The conclusion gives not only answers but also repeats the thesis statement, giving the solution to the discussed problem. A better way to state your argument is to put it at the end of your work. There are certain reasons for it: you can compose your main idea by giving the issues and answers to them together. It will certainly bring better comprehension of the question to the reader. If it is possible, divide the body part into smaller units, as to narrate every topic fully. We offer you two ways of structuring your basic article part: block and chain format. The block form lists all the pitfalls first, then gives ways out. Problem solution essay format of the block form looks like the scheme below: introduction (with situations) problem block solution block conclusion (with your evaluation) It is better to use a block outline in short articles, as it makes the connection between the issue and result clear. In the chain structure, every question is followed by the answer. We can illustrate the approximate outline of the format as follows: introduction (with situations) problem solution section another problem solution section conclusion (with evaluation) This type of structure shows the relationship between the effect and way out of it directly, and fits longer pieces of work. It is up to you to decide whether to use the block or chain method, but basic recommendations will stay the same. The last step before handing in the article is editing. Look closely for the mistakes as they may bring to naught all your efforts. Ask somebody you can rely on to read you work and find discrepancies or faults. Make a checklist to test yourself. It can include the presence of all structural components, and whether each paragraph has coherent content. If all points are correct, you still need to read and re-read the written information. Write your work with love and patience, and it will result in a rewarding experience of an A+ grade!

The Adventures of Tom Sawyer - 600 Words

The Adventures of Tom Sawyer: A novel written by Samuel Langhorne Clemens also more commonly known as Mark Twain. Samuel was born in 1835 in what he called â€Å"the almost invisible village† in Florida, Missouri. In his younger years he and his family moved to Hannibal Missouri on the Mississippi River. He later used this town as his fictional town of St. Petersburg in â€Å"The Adventures of Tom Sawyer†. While Samuel Clemens was savoring all of his fame he and his family were living in Hartford, Connecticut where he wrote the â€Å"The Adventures of Tom Sawyer†. This story is a novel; it is an adventure/romance taking place in the nineteenth century. The themes revolve around friendship, imagination, and truth and falsehood. The novel has a setting†¦show more content†¦He cannot sit still; he is always looking for an aberration. Tom Sawyer is adventurous, passionate, and full of wild imagination, and in particular instance of his mischievous ways he ha s a great heart. The novel opens with Tom Sawyer being searched for by his Aunt Polly due to him playing hooky from school. She has Tom whitewash the fence as his punishment. The whitewashing scene is argued to be the most famous scene in American Literature. He is best remembered for getting a number of other boys to whitewash the fence for him, and that’s how the character Tom Sawyer is and that’s what makes him such a clever character. Tom is known as the attractive bad boy and his younger brother Sid being the prudish child in the family. The reader in the novel is on Tom Sawyers side from this point onward. Tom Sawyers friend Huckleberry Finn is introduced by the narrator as a â€Å"juvenile pariah of the village† and as a â€Å"romantic outcast†. Huck is agreeably hated and horrifying to all mothers of St. Petersburg but secretly admired by their children. Huck’s father is the town drunk. Huck sleeps around the town in hogs head barrels and /or on doorsteps. He lives on his own rules and does only what he wants. He wears men’s clothing, he smokes, and he swears. Tom Sawyer and his friend Huckleberry Finn sneak out to a cemetery at night with a full moon. They both try to cure warts by using a dead cat when they unintentionally witness aShow MoreRelatedThe Adventures of Tom Sawyer500 Words   |  2 Pages Mark Twain’s novel, The Adventures of Tom Sawyer, is about a boy going through many adventures as a child. The story begins with Aunt Polly hollering at Tom which tells the reader right away that Aunt Polly is the strict, authoritative figure in his life. As the story progresses, Twain introduces the main characters in the book: Tom’s girlfriend, Becky Thatcher; and his closest companions, Huckleberry Finn and Joe Harper. Later in the novel, we explore many adventures that he goes on; mostly withRead MoreThe Adventures Of Tom Sawyer2307 Words   |  10 PagesIn the first chapter Huckleberry Finn relays his version of the events that transpired in the conclusion of The Adventure of Tom Sawyer. He explains that he and Tom Sawyer became very wealthy after uncovering a cache of gold that was hidden by a band of local robbers, and how after this, under the supervision of Judge Thatcher, Huckleberry’s money was invested and he was placed into the care of the Widow Douglas to be â€Å"civilized†. Huckleberry reveals that Judge Thatcher and the Widow Douglas’s justificationRead MoreThe Adventures of Tom Sawyer822 Words   |  3 Pages â€Å"Outsiders often have an insight that an insider doesnt quite have,† said Diane Abbott. In the 2004 edition of the book The Adventures of Tom Sawyer written by Mark Twain, a couple of interesting people were mentioned which were society outsiders. Some outsiders, such as Huckleberry Finn, know how hard it is to find food and shelter. On the other hand, some city people don’t understand what people like Huc kleberry Finn have to go through almost everyday. Society outsiders, such as Huck, whoRead MoreThe Adventures Of Tom Sawyer1158 Words   |  5 PagesThe Adventures of Tom Sawyer is one of the classic examples of purely American literature, it is about American people, who have American ideals, and live in a definitively American town. Many aspects of Mark Twain s are paralleled in The Adventures of Tom Sawyer and in many ways it is Twain s expression of what his life was like as a boy growing up in Missouri. It is in essence, A novel about the mischief that typically accompanies being a child. Along with these childish aspects of the novelRead MoreThe Adventures of Tom Sawyer5112 Words   |  21 PagesThe Adventures of Tom Sawyer The main idea behind this story is just an average little schoolboy getting into loads of trouble all the time and learning things through experience. Hes not the role model little boy at all, but hes certainly not the one everyone would pick on and such. Tom Sawyer goes out on all sorts of adventurousÂ… adventures, some thought up through imagination and others as serious as a heart attack. Throughout this book you will notice how Tom Sawyer grow up into a moreRead MoreThe Adventures Of Tom Sawyer . __________________. A Book1061 Words   |  5 PagesTHE ADVENTURES OF TOM SAWYER __________________ A Book Review Presented to Mr. Parsons and Mrs. Amy Lack Woodville High School __________________ U.S. History I and English 10 __________________ by Arian Campbell April 19, 2017 The Adventures Of Tom Sawyer The Adventures Of Tom Sawyer by Mark Twain is a 271-page novel. Tom is a boy, and merely and exactly an ordinary boy on the moral side. What makes him delightful to the reader is that on the imaginative side he is very much more, andRead MoreEssay about The Adventures Of Tom Sawyer1042 Words   |  5 Pages The main character in the book is Tom Sawyer. Throughout the book, the author compares himself to Tom and his adventures. Tom is all boy he hates anything that places limits on his boyhood freedom including, church, school, and chores and he will do anything to get out of them. Toms character is a dynamic one. Harper Academic states, A good student? A polite nephew? A hard worker? Not Tom Sawyer. He never wanted to be the model boy. His sights were set on beingRead MoreThe Adventures Of Tom Sawyer By Mark Twain1558 Words   |  7 PagesThe Adventures of Tom Sawyer In 1876, a novel about a young boy growing up along the Mississippi River was written. Set in the fictional town of St. Petersburg, Mark Twain, the author of this fictional piece, based ‘The Adventures of Tom Sawyer’, largely on his personal memories of growing up in Hannibal, Missouri in the 1840s. Through ‘The Adventures of Tom Sawyer’, by Mark Twain we are able to not just appreciate an amazing piece of literature, but also be able to explore through the fiveRead MoreThe Adventures of Tom Sawyer by Mark Twain734 Words   |  3 PagesThe Adventures of Tom Sawyer â€Å"Then he (Injun Joe) put the fatal knife in Potters open right hand, and sat down on the dismantled coffin. Three -- four -- five minutes passed, and then Potter began to stir and moan. His hand closed upon the knife; he raised it, glanced at it, and let it fall, with a shudder. Then he sat up, pushing the body from him, and gazed at it, and then around him, confusedly. His eyes met Joes.† (9.53). In this Quotation from the novel– The Adventure of Tom Sawyer, MarkRead MoreCritical Analysis Of The Adventures Of Tom Sawyer904 Words   |  4 PagesThe Adventures of Tom Sawyer Critical Analysis â€Å"Sometimes problems don’t require a solution to solve them, instead they require maturity to outgrow them.† (1). Eventually in life we will have to grow up and face our problems maturely, and it’s a large price to pay. In The Adventures of Tom Sawyer, Tom faces a challenge of maturity. The question is, did Tom mature socially or morally more? My thesis is Tom matured morally over socially in the book, due to how much he doesn’t learn to obey those

Sample Letter of Recommendation for an MBA Applicant

MBA applicants need to present at least one recommendation letter to admissions committees, and most schools ask for two or three.  Letters of recommendation are typically used to support or strengthen other aspects of the MBA application.  For example, some applicants use recommendation letters to highlight their academic record or professional accomplishments, while others prefer to highlight  leadership or management experience. Choosing a Letter Writer When choosing someone to write your recommendation, it is very important  to select someone who is familiar with you and your accomplishments. Many MBA applicants choose an employer or direct supervisor who can discuss their work ethic, leadership experience, or professional achievements. A letter writer who has seen you manage employees or overcome obstacles is also a good choice. Another option is a professor or a fellow student from your undergraduate days. Some applicants also choose someone who supervised their volunteer or community work. Sample MBA Recommendation Below is a sample recommendation for an MBA applicant. This letter was written by a supervisor for her direct assistant.  The letter highlights the students strong work performance and leadership ability. These traits are important for MBA applicants, who must be able to perform under pressure, work hard, and lead discussions, groups, and projects while enrolled in their program. The claims made in the letter are supported by  very specific  examples, which help reinforce the points the letter writer is trying to make. Finally, the recommender outlines the ways in which the subject could contribute to an MBA program. To Whom It May Concern: I would like to recommend Becky James for your MBA program. Becky has worked as my assistant for the last three years. During that time, she has been moving toward her goal of enrolling in an MBA program by building her interpersonal skills, honing her leadership ability, and gaining hands-on experience in operations management. As Beckys direct supervisor, I have seen her demonstrate strong critical thinking skills and  the leadership capabilities necessary for success in the management field. She has helped our company achieve many goals through her valuable input as well as a  persistent dedication to our organizational strategy. For example, just this year Becky helped to analyze our production schedule and suggested an effective plan to manage bottlenecks in our production process. Her contributions helped us achieve our goal of minimizing scheduled and unscheduled downtime.   Becky may be my assistant, but she has risen to an unofficial leadership role. When team members in our department arent sure what to do in a given situation, they often turn to Becky for her thoughtful advice and support on various projects. Becky never fails to assist them. She is kind, humble, and seems very comfortable in a leadership role. Several of her fellow employees have come into my office and expressed unsolicited compliments in regards to Beckys personality and performance. I believe that Becky will be able to contribute to your program in a number of ways. Not only is she well-versed in the field of operations management, she also has a contagious enthusiasm that encourages those around her to work harder and achieve solutions for both personal and professional problems. She knows how to work well as part of a team and is able to model appropriate communication skills in almost any given situation. For these reasons  I highly recommend Becky James as a candidate for your MBA program. If you have any questions regarding Becky  or this recommendation, please contact me. Sincerely, Allen Barry, Operations Manager, Tri-State Widget Productions

Front Office Operations Free Essays

string(212) " important to have a proper security system in place to protect staff, guests and physical resources and assets such as equipment, appliances buildings, gardens of the hotel and also the belongings of the guest\." Front office and guest safety and security Security Issues ———————- Security encompasses areas such as security of the property itself, company assets, employees’ and customers’ personal belongings and valuables, life security, personal security etc. In all workplaces management stipulates that it is not responsible for valuables and employees personal belongings (their handbags, items kept in the personal lockers, etc. . We will write a custom essay sample on Front Office Operations or any similar topic only for you Order Now Yet management must take all possible measures to prevent theft among employees and of employee belongings through its hiring practices and through the implementation of effective management, human resources and operational policies, such as:    †¢ Background checks of selected applicants †¢ Policies related to employees’ entry to, and exit from, the workplace †¢ Spot checks of locker rooms and lockers Effective supervision and control during the work cycle †¢ Policies related to the discovery of criminal records and wrongdoing among, and by,   employees †¢ Control of people entering and exiting the workplace With regard to guest valuables, management informs guests that the hotel is not responsible for valuables left in the room, advising them to secure these in safety deposit boxes provided by the hotel. Besides taking care of security issues related to the people they employ (as outlined above), management must undertake some necessary measures, among which: †¢ Providing â€Å"secure† (safety) deposit boxes and areas to keep valuables †¢ Policies and practices to ensure the security of these boxes and areas †¢ Management and operational policies regarding the security of guest rooms †¢ Management and operational policies regarding the security of public areas †¢ Security policies and practices for the back-of-the-house areas †¢ Employment and training of security personnel Policies and practices to minimize the â€Å"presence† and â€Å"patronage† of   Ã¢â‚¬Å"shady characters† and criminals, verification of registration and check-in personal data and documentation submitted, and curtailing free movement of unknowns on the premises, as well as direct, free flowing communication with local, national and international security authorities) †¢ Training of staff in guest and valuable security †¢ Effective supervision and control procedures. Some of the security measures taken by hotels:   | |Key Card Locks: | |While key card locks on guest rooms are quickly becoming the standard, some hotels still don’t take advantage of the added safety | |provided to guests. | |Guest room locking systems these days include punch and magnetic key cards which have locks with flash memory and other productivity | |linked functions. The system can directly be linked with PMS. |Security Guards: | |Most hotels do not have security guards while some employ them only at night. At Best Western Sterling Inn, we have our own staff of | |trained security guards working 24-hours every day to provide the best in safety and security for our guests | |Defibrillation Units: | |A life saving device in case of heart attacks, defibrillation units are starting to be deployed among police and emergency personnel | |across the nation. |Security Cameras: | |Few Hotels have security cameras with digital technology, intelligent access central system, software interface with CCTV for matching| |undesirable visitors and criminals, interfacing with motion detectors, pocket lie detectors and spy cameras and use of biometric | |readers like hand key reader or face recognition system etc. |Fire Alarms: | |While most hotels now have smoke detectors and fire alarms, Some hotels have a state of the art alarm system with smoke detectors in | |each guest room and throughout the entire complex that is monitored 24 hours a day, 7 days per week that pinpoints the exact point of | |the alarm allowing our security staff to respond immediately to the area of any alarm condition. |Emergency Power: | |Very few hotels have any provision for emergency power in case of an electrical outage while a few hotels provide limited emergency | |stand-by power to provide elevator service and some lighting. Some hotels has a 2-Megaw att stand-by generator that provides 100% | |emergency power that can provide uninterrupted guest service during a power outage. |Emergency Manual: | |Hotels maintain an emergency manual, detailing operations in the event of a variety of emergencies. | |Employee Photo ID: | |For added security, some hotels have employees wearing a photo ID nametag allowing quick identification. |In-Room Safes: | |In addition to the safety deposit boxes offered by most hotels at the front desks, Some hotels provide in-room guest safes capable of | |holding a lap-top computer that use the guest’s own credit card as the key. | |Guest elevators: | |Elevators may also be interfaced with a room electronic locking system, where swiping the room card key takes the guest to the floor | |on which he is staying. | Bomb threat security: Precautions and measures that may be taken in the above case: 1. Security nets and body searches for guests not known to the staff. 2. Banqueting suites and other non-public areas should be security checked and locked after use 3. Goods received and bags should be checked and kept tidy. 4. If a bomb threat is received via telephone, the telephonist should note carefully what exactly is said, the time of the call received the accent of the caller and background noise if any. After the alert the GM should stay put in the lobby where he can be reached easily. . Duties and responsibility of staff during an emergency should be well-defined. 6. The hotel should work closely with the police to keep them updated. 7. Chamber maids and HK supervisors should be trained to conduct security checks in the guest rooms. Security measures for women travelers -Mirrored walls of the guestroom floor elevators so that you can see who is walking behind you -Well-lit public areas such a s lobby bars -Valet parking services to avoid the need o a woman to enter the parking lot -Assigning rooms closer to the elevator If a woman traveler is not assigned a room on the special executive floor , hotels most often on request, upgrade her accommodation to that floor without an increase in room rate. The floor is staffed almost 24 hours a day with a concierge IMPORTANCE OF A SECURITY SYSTEM The guest, who comes to a particular hotel, comes with an understanding that he and his belongings both will be safe and secure during his stay at the hotel. At the same time it is also quite important that the hotel staff and assets are protected and secure. Hence it is very important to have a proper security system in place to protect staff, guests and physical resources and assets such as equipment, appliances buildings, gardens of the hotel and also the belongings of the guest. You read "Front Office Operations" in category "Essay examples" The management must take care that the security and safety systems cover the following areas: ? Guest: Protection from crimes such as murder, abduction and health hazards from outsiders, hotel staff, pests, food poisoning etc. ? Staff: Providing staff lockers, insurances, health schemes, provident funds etc. Protective clothing, shoes, fire fighting drills, supply of clean drinking water use of aqua guards, sanitized wash rooms etc. ? Guest luggage: Secure luggage store rooms and proper equipment such as luggage trolley and bell hop trolley should be provided. ? Hotel Equipments: Lifts, Boilers, Kitchen equipment, furniture fitting and building etc. must be protected and for these the security and safety should cover up fire safety equipment, bomb threat security system, water floods security system, earthquake security system , safe vault security system etc. Protection of raw materials, goods, provisions and groceries etc. for this the security system should cover proper storage and pest control systems, apart from the application of total material management system. TYPES OF SECURITY: 1) Physical aspect 2) Security of persons 3) Security of systems 1) Physical aspect is divided into two parts a) Internal b)external a) Internal security Against theft Fire safety Proper lighting Safegua rding assets Track unwanted guests b) External Security Proper lighting outside the building Proper fencing of the building Fecing of pool area to avoid accidents in the night Manning of service gates to restrict entry Fixing of closed circuit TV cameras 2) Security aspects of persons a) Staff Effective recruitment and selection Identification of staff Key control Red tag system Training Locker inspection b) Guests: Check scanty baggage guests Guests suspected of taking away hotel property should be charged according to hotel policy Guest room security: Provide wide angle door viewer, dead bolt locks, night torch, chains on doors tc Employees should be trained to not give any information abount in house guests to outsiders While issuing a card key ask for key card if in doubt of the guest. House keeping staff should never leave keys expose on unattended carts in corridors 3) Security aspects of systems: Record of all losses and missing items immediately Inventory control should be proper Auditing should be done on a regular basis Proper system for cash disbursements should b e made The term system implies the operations of the hotel eg: all the equipment used for operation, procedures laid down for operations and policies to be followed. Systems procedures and policies if followed properly shall safeguard the assets and increase life span of equipment as well as avoid any breakdown maintenance This would mean the following: Fix duties and responsibilities: Fix duties of staff members so that they don’t interfere with others’ work. Make surprise checks Staff who have access to liquid assets should be made to sign a bond so that in case of theft the concerned person can easily be caught Hiring of some independent security company to check the security system of the hotel Safety issues —————– When we take the same hotel as example, it is management’s duty to ensure â€Å"safety† in several areas, such as: †¢ The structure itself †¢ Installations and fixtures (check electrical, plumbing, air-conditioning and other installations) †¢ Public and work areas (e. g. slippery floors,   hazardous obstacles in traffic areas), safety of furniture, equipment, appliances, and utensils. This is followed by: †¢ Health safety (nontoxic cleaning material and detergents used) †¢ Good quality air (what we breathe, dependent upon the type of equipment, installations and fixtures used, and regular repairs and maintenance) Food safety (a whole world in itself including sanitation, food quality, food spoilage, correct handling procedures, allowable and recommended temperatures, etc. ), and checking and control procedures. An important â€Å"preventive measure† is eliminating the possibility of communicating contagious diseases. Even if local regul ations do not require it, it is recommended to send food and beverage handlers for a regular medical checkup. Another preventive measure is the formulation and implementation of policies and procedures related to employee accidents which may present a threat to food sanitation. Culinary staff who cut themselves accidentally at work, as often happens while slicing food products, have to immediately stop handling food, and report to their Executive Chef and to the person in charge of First Aid in their company (Security or Human Resources Department) for preliminary treatment and handling. Healing and precautionary measures are taken before they are allowed back at their job. There are also some basic â€Å"dress† requirements for staff involved in food and beverage preparations:   e. g. Chefs’ hats (to prevent hair and whatever hair contains to fall into the food), discreet earrings (non-dangling) or no earrings for women, and long hair neatly and securely tied in a bun at the back of the head. Of no lesser importance is the safety of work tools and work procedures covering all areas, such as stable ladders, secure shelving, safety shoes, well-fitting work garments, clearly written and complete safety procedures and guidelines from management, safety training, and safety installations and equipment, e. g. ire fighting units, regular maintenance schedules for safety equipment and installations, wider traffic areas (to prevent accidents), adequate staffing, and last but not least, continuous effective training in work procedures. All of this necessitates comprehensive planning, the creation of clear policies and work procedures, organization, implementation, training of supervisors and employees, supervision and control. FIRE: Fires in the hotel may result in t he injury and loss of life of both the guests and the staff. Main causes of fire are: i) Smoking: -Smoke only where allowed. -Put out cigarettes in the right place. Sufficient ash trays should be provided in eating places and in rooms, but away from curtains and draperies. -Educate the guests about fire possibilities due to smoking. ii) Defective wiring, faulty appliances and motor and worn out insulation Such hazards should be immediately reported to the concerned person and such equipment should be immediately repaired iii) Laundry Areas: Care should be taken to see that none of the electrical equipment is left on after use iv)Gas leaks: Precautions should be taken against this especially in kitchen areas. v) Combustible waste Combustible material should never b e left near the boiler room i) Kitchen All equipment such as chimneys, exhausts, ventilators, grills, hoods etc. which collect a lot of fume vapor and catch fire easily should be cleaned regularly. vii) Elevator shafts: Th ese require constant check and inspection. Cigarette butts can ignite the debris and oils that gather at the bottom of elevator shafts. Types of Fire and fire extinguishers: Hotel personnel are trained about the fire protection procedure and the types of fire. They must be able to recognize the various types of fire, all fire require air. Air contains O2 which is necessary for combustion. Fire has been classified in 5 categories depending on how they can be extinguished- Class A Fire- It is the fire of wood, paper, linen and similar dry materials. They are extinguished by cooling and quenching effect of water. The water reduces the temperature of burning substances below their combustion temperature. These are the most frequent and easiest to extinguish when there is an ample water supply and when water can be directed on the combustible material . Keeping the other combustible material wet will limit the spreading of fire Class B Fire-These include fires of oil, gasoline, grease and other petroleum product. These fires are extinguished by blanketing the source of burning substances and eliminating the supply of O2. Petroleum products is lighter than water and will float on water and continue to burn and spread by means of flowing water to other section of the building, hence water is never used for this category. Class C Fire-These are the fires of pressurized gases. For e. g. L. P. G. , most of the gases are lighter than air but L. P. G. is heavier than air. Water is not to be used for this class of fire. Class D Fire-These are fire of metals having low burning temperature for e. g. Na, Mg etc. This class of fire does not exist in the hotel. Class E Fire-These are electrical fire. The fire extinguishing agent must not conduct electrical energy which could spread the fire. Electrical fires are usually blanketed and cooled down. Water is a good cooling agent but it also conducts electricity, so it is not used to control or extinguish this class of fire. Electrical fire is usually caused by a part of circuit overheating or by short circuit. Controlling the sizes of electrical fuses and circuit breaker will often minimize this class of fire. There are 2 systems of fire protection . Portable fire extinguisher. 2. Stationary fire fighting system. Portable fire extinguisher a. Soda acid fire extinguisher- It is used for class A fire. The extinguishing agent is H2O. The fire extinguisher is a cylinder type of pan in which a rubber or flexible hose is attached to the top. When it is desired to use the extinguisher, it is carried to the fire and inverted. A small bottle of acid usual ly H2SO4 is spilled when the cylinder is inverted or turn upside down. Powdered sodas, bicarbonate of soda (Baking Soda) is mixed with H2O when the tank is charge or fills with water. The chemical reaction of acid and soda water creates a pressure which forces the water out of the cylinder or tank. The hose is used to direct the flow of water to the fire. It has 2 disadvantages:- -It must be kept away from freezing -Acid causes corrogen problem which reduce the life of the tank or cylinder. The corrogen problem has been minimized by replacing the acid with CO2 cartridge. Upon the cylinder inversion the cartridge opens and releases CO2 gas under high pressure. The high pressure gas than forces the water out of cylinder. b. CaCl2 fire extinguisher-It is also used on class A fire. CaCl2 is a salt which when added to water form brine which has very low freezing temperature. CO2 cartridge is used as pressure agent to force H2O and CaCl2 out of the cylinder to the fire. These extinguishers are used where freezing is a potential hazard c. Foam type extinguisher-It is used on class B type of fire. The extinguisher is charged with special chemical (Al2SiO4), the chemical s pread on the burning material and the solution, blanket the fire by excluding O2. d. CO2 fire extinguisher- It is used on C, D and E class of fire. The CO2 types spray a chemical fog towards the fire. The fog quickly excludes the O2 from the burning material and blanket the combustible material. e. D. C. P. extinguisher- It can be used on C, D and E class of fire. The most common extinguishing agent is sodium bicarbonate or plain baking soda. The extinguisher is charged with the dry chemical and a small tank of CO2 gas. The CO2 gas exerts pressure on dry chemical and forces it out of a nozzle directly to the fire. The powder strict the fire and the heat from the fire breaks down the chemical which releases CO2 gas on a large scale which helps in extinguishing the fire. Stationary fire fighting system a. Automatic sprinklers-It is generally mounted just below the ceiling height with a temperature detector or smoke detector, attached with each sprinkler. The temperature from the fire melts the fusible link on the detector, which opens a water valve. The water is then sprayed on the ceiling and falls on the floor, extinguishing the fire. If the fire area should spread, more sprinklers are automatically opened, thus confining the fire to a small area. The temperature detector can be purchased for different activating temperature. The high temperature detectors are often used in kitchens. b. Fire Hose System-It is a semi portable system. In this system the fire hose box is permanently located but the flexible hose can be moved to various distances throughout the building. The hose used to fight fire within a building should be of linen type. The linen allows some water seepage through it which will prevent its burning when in use. HANDLING EMERGENCY SITUATIONS Apart from fire and bomb threat etc. the front office staff at some point of time have to handle a lot of unusual situations also. Some such situations may be death and illness of guests, theft in hotels etc and many others. 1) Death of a guest in the hotel : ? Once the information comes to the front desk it should directly be reported to the front office manager. ? The front office manager will then report it to the GM or resident manager ? The security manager should also be informed immediately ? The police is informed and the hotel doctor is summoned who will check and confirm the death ? Meanwhile the hotel will locate the residential address of the deceased and will inform the relatives. Once the police complete all formalities and activities and gives the permission, the dead body is fully covered and then removed from the room on a stretcher. For this purpose the service elevator and not the guest elevator is used ? A death certificate is obtained from the doctor ? A report should be prepared as to who informed of the death, time, room number and date of death. In case there is any luggage of the decease d in the room a list should be prepared and the luggage should be kept in the luggage room and the person performing this activity should sign this report ? The guest room is locked and sealed. After obtaining clearance from the police the room is opened and thoroughly disinfected and spring cleaned and only after permission of the police and subsequent permission of the GM or resident manager the room should be sold. Some important facts to be kept in mind are: ? Donot enter the room alone always take the lobby manager and security officer with you ? In case you are aware that the deceased was under the treatment of a specific doctor, the same should be called instead of the hotel doctor. His physician will also be helpful in knowing and notifying the incident to the relatives and people known to him ? Donot disturb the body or touch anything before the arrival of the police as this may be a murder or suicide case. 2) Handling accident cases: †¢ A knowledge of first aid would come very handy in such situations. In general the following points should be taken care of : †¢ Remove the person who has met with accident from the site of accident {as early as possible and take him to a more comfortable area, use a stretcher in case the need be} †¢ Call the doctor and if possible give him the details of accident and gravity of the accident. Take someone along with you to the site of the accident as you may need help †¢ Keep alert you must serve the victim immediately by providing first aid †¢ Try to protect your establishment from any false allegations Prepare a full report of the whole accident giving details of the date and time who reported the incident, room no. , site of the accident etc. Also make your comments as to the reason of the accident and how could i t have been prevented and what action is to be taken to avoid the same in the future. The accident book: – An accident book is usually maintained in all organizations and the receptionist should record all details of accidents which have occurred to employees whilst carrying out their daily activities. – The book must be kept in a place easily accessible by any injured person or a person bona fide – Particulars of an accident may be entered here in either by the injured person himself or by a person acting on his behalf – The accident ook when filled up should be preserved for a period of three years after the date of the last entry – Every employer is required to take steps to investigate the circumstances of the accident recorded and if there happens to be any discrepancy between the circumstances found by him and the entry made, he is required to record the circumstances so found. 3) Situation of Theft: Theft is divided into four categories: I. Theft by employees of the hotel can be avoided by: – Work business and personal references should be checked before the employee is hired. A detailed record of all employees who enter the guest room such as chamber maids bellboys room boys maintenance etc – All hotel keys should be returned to the department concerned and no employee should be allowed to take keys out of the hotel’s premises. II. Damage of hotel property by the guest can be avoided by: – The hotel staff should identify the main cause for the damage. – If the damage is appears to be done intentionally the hotel can ask the guest to pay compensation for the same. For this it is necessary that the front desk is well versed with the cost of the damaged item. III. Theft of hotel property by the guest: Can be avoided by taking the following steps: – Installing automatic locks on the guest room doors – Appointing a security officer who would walk and take rounds at regular intervals – Inform guests to use the safe vault of the hotel and not to keep valuables in the guest room – Keep a watch on walk in as their likelihood of being a thief is more as compared to a guest who has undergone a process of making a reservation in the hotel – Avoid giving room numbers of resident guests to visitors or over the telephone callers. In case the guest loses his key and asks housekeeping to open the room door for them, HK should direct them to front desk – Master key should be kept under strict supervision and control Theft by outside visitors can be avoided by: – being aware of suspicious persons – regular and irregular schedule of vigil and rounds – Stagger lunch and rest periods of employee s so as to keep one person on duty on each floor at all times – Instruct eh telephone operator not to connect calls to the guest room incase the request is made by the caller by room number. The receptionist should insist on knowing the name of the guest who the caller wishes to speak to. – Guest should be informed to keep the balcony door closed to avoid anyone entering the rooms from the balcony – Closed circuit televisions should be used 4) Situation of illness and epidemics: – The receptionist may be called for assistance during sickness of a guest. – Patient should be advised to consult the house physician but in case the guest has his own physician the same should be called. Housekeeping needs to be notified about the sickness and instructions if any – If the case of serious sickness, the guest should be moved to a nursing home – During epidemics all precautionary measures especially in food and beverage service area should be followed 5) Handling a drunk guest : – The guest should be removed from the lobby as early as possible but being careful not to irritate/offend him. – Preferably taken to the back office or to his room. – If he behaves unruly, the hotel security must be called. Safe deposit facility in the hotel for security of guests’ valuables: – It is the responsibility of management to develop and maintain proper safe deposit procedures for its property. – If this facility is available for guests, notices regarding it should be put up in various conspicuous/noticeable places in the hotel and also should be mentioned to the guest. – Safe deposit boxes should be located in an area, in vicinity of the front desk and which has limited access. Unauthorized guests or personnel should not be permitted inside the area. – Front office staff should be well-versed with the procedures regarding safe deposit boxes. – Strict control should apply to the storage and issue of safe deposit keys. – At any point of time there should be only one key issued for each safe even if more than one person is using the safe. – Two keys are required to open a safe deposit box: one being the guest’s key and the other being the control key/guard key put in by the cashier/safe deposit attendant. After the verification f the identity of the guest, the safe deposit attendant/cashier should accompany the guest to the safe deposit area where in clear sight should make use of the control key and the guest’s key to open the safe. Sometimes the hotel may not be able to meet the demand for individual safe box; in that case a large box containing the belongings of more than one guest is used. Each guest’s belon gings are put in an envelope which is sealed. The key to this box is stored in a secure place and a log is maintained which records an entry each time the key is used to open the box How to cite Front Office Operations, Essay examples

Global Strategy Portfolio Analysis

Question: Discuss about theGlobal Strategyfor Portfolio Analysis. Answer: Introduction It is important that one carries out exhaustive and thorough background checks when it comes to company analysis. Through this, they will be able to understand the nature, implications and the importance of business matrix and all the details that describe the same. Notably, the Boston Matrix was devised for purposes of attaining the best marketing practices and as such, achieves this move by plotting the relative market growth against market share. This is then meant to provide corporate strategic planning as a means of assessing the different SBUs in various markets (Whipp, 1999). This is why Wesfarmers has every reasons to adopt this strategy for the betterment of the anticipated results. A product life cycle refers to the period the product takes to appeal to the customers. Within this period, five stages take centre stage. The stages include an introduction, growth, maturity, saturation and decline of the product in the consumers radar (Payne, Lumsden, 1987). The BCG Matrix is one that demonstrates market growth, that is, the market share matrix that is developed by Boston Consulting Group used in supporting the strategic decisions so as to optimize the business portfolio with respect to the new, ancient, established or innovative products of the business and or the strategic business units, otherwise known as SBU (Fiocca, 1982). The underlying theories of this matrix are the product life cycle and the experience curves. Having the strategic business units in place, it becomes important for the target company to come up with its individual strategies for the set SBUs. Application of the Matrix: Business Analysis Portfolio The tool: the BCG growth-share matrix was devised under the umbrella of the experience curve. How to achieve it: the growth rate of each of the business unit is calculated on an annual basis. This is then plotted or linked to the matrix depending on the possibility of the matrix capturing the growth be it low or high. Below is an Illustration of the Matrix The future decisions with regard to the matrix include steps on how to allocate the investments on SBUs taking into account the fact that it is important to have an analysis of the respective products based on their potential to give profits or die out (Charles, et al., 1984). The other important thing here should be the need to develop SBUs and new products. When all is said and done, it becomes critically important to have such considerations as PIMS database being in place as it supports the BCG matrix (Udo-Imeh, et al., 2012). As a matter of fact, the high market share in the growing market costs like the Business units are known to have a decrease in the rate over time relative to other competitors. One of the strategies that can be employed in this case is the strategy of growth, as indicated above. When carefully scrutinized, it becomes apparent that the strategy reduces the costs and investments thereby maximizing the profits and short-term cash flows. Question mark strategy is another approach where the SBU is seen to assume an exponential growth without having high market share (Payne, Lumsden, 1987). At this point, clever yet sufficient investment is necessary so as to increase the market share. There is also an offensive strategy that is viewed as an important strategy to increase the market share in the sense that it brings with it the promise of offering huge returns. References Fiocca, R. (1982). Account portfolio analysis for strategy development. Industrial Marketing Management,11(1), 53-62. Charles J. Fombrun, Tichy, N. M., Devanna, M. A. (1984).Strategic human resource management(pp. 403-419). New York: Wiley. Whipp, R. (1999). Creative deconstruction: strategy and organizations.Managing organizations: Current issues, 11-25. Whipp, R. (1999). Creative deconstruction: strategy and organizations.Managing organizations: Current issues, 11-25. Udo-Imeh, P. T., Edet, W. E., Anani, R. B. (2012). Portfolio analysis models: a review.European Journal of Business and Management,4(18), 101-117. Payne, A., Lumsden, C. (1987). Strategy consultingA shooting star? Long Range Planning,20(3), 53-64.

Should We Have Mandatory Drug Testing For Professional Athletes

Suffixes of Quality

Suffixes of Quality Suffixes of Quality Suffixes of Quality By Mark Nichol This post lists suffixess of nouns featuring a particular suffix are provided after the suffix. Suffixes attached to words to refer to a quality of being or a state or condition include the following: -acity: perspicacity, capacity -an: partisan, urban -ance: attendance, balance -ate: apostate, reprobate -cracy: democracy, theocracy -cy: residency, privacy -dom: kingdom, wisdom -ence: sentience, abscence -ern: western, cavern -ery: bravery, effrontery -escence: effervescence, adolescence -ese: legalese, Chinese -esque: burlesque, grotesque -ete: aesthete, athlete -ette: kitchenette, cigarette -ful: handful, earful -gamy: monogamy, polygamy -gon: pentagon, polygon -hood: brotherhood, neighborhood -ia: absentia, dementia -ial: editorial, colonial -ian: pediatrician, patrician -ine: canine, feline -ity: gravity, hilarity -ization: organization, fertilization -less: fearless, homeless -let: inlet, booklet -ling: underling, stripling -ness: kindness, darkness -ocity: velocity, ferocity -oid: spheroid, humanoid -phile: audiophile, bibliophile -ship: fellowship, governership -sion: discussion, dimension -th: length, strength -tion: station, attrition -tude: attitude, fortitude -ty: frailty, liberty -ure: failure, closure Words pertaining to medical or psychological conditions, or analogous states, often have one of the following suffixes: -algia: neuralgia, nostalgia -emia: anemia, hypogyclemia -iasis: psoriasis, elephantiasis -itis: appendicitis, tonsillitis -oma: carcinoma, hematoma -opia: myopia, hyperopia -osis: neurosis, psychosis -path: homeopath, sociopath -plegia: paraplegia, quadriplegia -pnea: apnea, orthopnea -trophy: atrophy, dystrophy Words denote a place where something specific occurs, or an entity with a certain responsibility, are augmented by the following suffixes: -ary: aviary, military -ium: auditorium, stadium -ory: laboratory, observatory Many words for types of ingredients or materials end with the following suffixes: -ing: clothing, writing -ings: seasonings, leavings An action or a process or procedure, or a belief, is expressed in words with these suffixes: -ade: blockade, promenade -age: storage, patronage -ism: racism, sexism -ment: measurement, movement -oscopy: arthroscopy, colonoscopy -ure: pedicure, closure Many words describing a person with a particular skill or vocation or who engages in a specific activity, or a person who or a thing that has a certain quality or purpose, end with this suffix: -ac: maniac, hemophiliac -ant: servant, applicant -ar: burglar, liar -ard: laggard, wizard -arian: disciplinarian -art: braggart, boggart -ative: preservative, derivative -crat: bureaucrat, aristocrat -eer: engineer, volunteer -ent: president, absorbent -er:hanger, teacher -ess: waitress, heiress -ian: guardian, Italian -ic: workaholic, alcoholic -ist: therapist, dentist -ite: parasite, dynamite -or: doctor, translator Note that -ess, which generally signifies a female practitioner (other examples are adventuress and poetess), is widely considered dated because it denotes an unnecessary distinction between genders. A female author, for example, is simply described as an author, not an authoress, and if her gender is pertinent, it may be referred to otherwise in written content. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:Comma After i.e. and e.g.8 Types of Parenthetical PhrasesInspiring vs. Inspirational

Financial strategy Essay Example | Topics and Well Written Essays - 1500 words

Financial strategy - Essay Example It is however, critical to understand that such balancing act often depend upon the firm’s choice of the risk level which it attempts to undertake. (Walsh, 1996), As such the growing firms may be more risk loving and willing to take on higher level of risks and therefore all their decisions to expand and develop their markets will be based upon the higher degree of risk firm is willing to assume. Similarly, if a firm is more mature and risk averse in nature, its overall strategies will be relatively different as compared to a growing firm. (De Wit, & Meyer,1998). This paper will attempt to argue and explore that a firm’s overall risk consciousness governs the underlying strategies of the firm. The concept of Risk and firm The question of whether risk is the major factor behind the strategy formulation or not need to be discussed from the different perspectives. Each organization operates in an environment which is both internal and external to it and therefore develops its strategies in accordance with its environment. Firms, to a large extent, develop their capabilities to deal with the risks arising from their internal environment however; it’s the external competitive landscape of a firm which poses it significant and important risks because of the volatile and uncontrollable nature of the external environment. The overall development of the risk consciousness of the firm therefore largely depends upon the kind of external environment faced by the firm and how firm can actually utilize its strengths to withstands such external risks Risk as a concept therefore outlines that the outcome of any decisions or strategies of a firm may not be exactly according to what is perceived by the firm. As such it becomes critically important for the firms to account for and plan risks and develop strategies which can help them to counter risks arising from their internal as well as external environment. It is this uncertainty of the external environmen t which firms need to account for and prepare themselves through proper planning and strategy formulation process. It is also important to understand that the overall risk factors in an external environment can be diverse however; normally firms perform PESTLE Analysis to analyze their external environment. PESTLE Analysis allows the firms to actually evaluate the impact which political, economic, social, technological, legal and environmental factors could have on the firm. (Ellis, & Williams, 1993) If a firm has relatively high tolerance for the risk, it may choose to work in an environment which can be politically volatile and uncertain. For example, any firm willing to operate in Afghanistan now must have relatively higher tolerance for the risk because of volatile and extremely uncertain political environment. As such its policies and strategies will be driven by the volatility of the external environment within which it is operating or willing to operate. Risk and Return Risk and Return criteria serves as the basic premise under which all the economic decisions are made. Every investor as well as the firm attempts to decide and take actions based on their overall risk and return profile.

Student Loans; How banks manage them and how they affect individual Term Paper - 1

Student Loans; How banks manage them and how they affect individual spending - Term Paper Example ay for college education that they cannot afford creates a situation in which a slowed job market will be unable to absorb these individuals and provide the necessary debt payments that these loans necessitate. Accordingly, the rate of default during any future slowdown in economic growth could be so profound that these individuals will contribute to a secondary crisis that could be far worse than the mortgage-backed security crisis that took place during 2007/2008. Yet, rather than focusing an entire analysis upon the potential for hardship that exists due to the way in which student loans are managed and given out, the following analysis will specifically focus upon the way in which banks manage student loans, the potential for distress that this style of management creates, and the individual hardship that student loan/debt repayment creates for a recent graduate and their overall Outlook for earnings during their lifetime. It is the hope of this author that such a level of discus sion will be beneficial with respect to engaging a further level of appreciation with regard to the issue of student loans, how they are managed, and how this form of debt impacts upon individuals within the current era. One of the most interesting ways in which the reader can come to appreciate the similarity between the mortgage-backed securities that contributed to the 2007/2008 financial hardship as compared to the issue of student loan debt creation and repayment has to do with the similarity of financial structure; specifically with regard to the way in which these student loans are packaged in bulk and sold within equity markets. In almost an identical manner to the way in which banks manage mortgage-backed securities and bought and sold these as an asset, the financial system is currently performing much the same process with respect to student loan debt. This is not a new concept. Instead, packaging debt and selling it to investors that place a premium upon whether or not

Understanding Key Components Of Performance Management

Understanding Key Components Of Performance Management An effective performance management system integrates organisational, business and individual planning and performance. Performance management systems components include: Development of clear job descriptions The selection of right people with an appropriate selection process Provide effective orientation, training and development. Clarify performance objectives and linking these with organisational business plans. Conduct regular performance appraisal of individuals against the achievement of these objectives. On-going coaching and feedback Recognition or compensation that reward people for their performance Provide career development opportunities Actions to deal with poor performing employees. Evaluate the involvement of individual, team and organisational performance. One of the main issues mentioned in the case study was regarding recognition regarding pay and performance. Research on high performing companies has consistently shown that they have at least one common characteristic: their people understand the strategy of the business and believe that if they perform well, they will be recognized and rewarded by the organization. (Wilson Group, 2010) If Colbran Institute is able to develop a appraisal system where recognition is documented and rewards Colbran Institute will be in a better situation when it comes to employee morale and motivation and be able to achieve company goals. Performance Appraisals Performance appraisals are one of the most important components of performance management and are designed to measure and improve employee performance. Edwin B. Flippo wrote in his book titled Personnel Management that performance appraisal is the systematic, periodic and an impartial rating of an employees excellence in the matters pertaining to his present job and his potential for a better job. (Flippo, Edwin B. 1979) The performance appraisal process articulates the standards of work expected of employees and the values and behaviours employees are expected to uphold in meeting their job requirements, communicating and working with others. The information that performance appraisals provide, provides foundations for recruiting and engaging new employees, development and training of existing employees, and maintaining a quality team by adequately and properly rewarding their performance. If a reliable performance appraisal system is not put in place, a human resource management system will fail, resulting in the total waste of the valuable human assets an organisation has. The key objective of appraisal is to provide employees with feedback on their performance provided by the line manager. (Caruth, Donald. 2008). The main objectives of performance appraisals are to: Assess the performance of employees over a period of time Help manage the gap between actual and desired performance Indentify strengths and weaknesses of employees, which in turn will identify training and development needs. Provide feedback on past performance Give clarity of the responsibilities and expectations of the employee in the upcoming appraisal period. Therefore, Performance management leads to higher performance that is more closely directed to the strategic objectives of the organization whereas Performance appraisal and feedback assist employees to understand what work they do well and how they can improve their performance. Issues Identified From reading the case study provided by Colbran Institute there seems to be a number of issues regarding the use of the graphical rating scale performance appraisal system. The graphical rating scale is one of the most popular methods of performance appraisal, it is easy to understand and cost effective to setup and manage. It involves listing subjective traits that the organization considers important for effectiveness on the job for example integrity, reliability, initiative and objective factors such as quality of work. The employee then gets a rating against each trait; these scores are then added up and produce an overall performance score for the employee. As seen with Colbran Institute the graphic rating scale does have a number of disadvantages; issues that have been brought forward include: Rater Errors Generalization of traits No real measurement achieved Issues from pass work history are not reflected. This form of performance appraisal is subject to rating errors mainly due to rater bias which result in incorrect appraisals. Rating errors include central tendency, leniency, severity and the halo effect. In Colbran Institutes situation the rating errors consist of leniency and the halo effect. Leniency is demonstrated when the evaluator rates most employees very highly across performance dimensions rather then spread them throughout the performance scale, in Isabels case she has rated most employees as either good or excellent. Generalisation of traits is another issue that occurs when using the graphical rating system as it might have traits such as creativity which is assessed the same on all employees appraisal. This could become an issue if the employee is working in a position where creativity isnt something that relates to their work. They could be a data entry clerk for example which doesnt involve any creativity; therefore they might get marks down for this because it is unable to be shown; whereas someone that works in marketing would be the completely different. Another issue Colbarn Institute has is the generalities of the documentation produced from the appraisal. Allan suggests to Isabel What is good quality to you might be average to me or someone else and vice versa. This is something that needs to be considered with maybe a review by a second and third level manager. But you will still have the issue so of employees not understanding what is expected from them, for instance an employee is given the rating of 2 on motivation, the question is how is he able to improve this? Another common error in performance appraisal is the halo effect. This occurs when a managers general impression of an employee, after observing one aspect of performance, influences his/her judgment on other aspects of the employees overall performance for the assessment period. This is demonstrated in the case study when Allan asks Isabel about past performance of her employees and she replies with Well in the odd case, a couple of them have let things go a bit. This is not reflected anywhere in the appraisal. Task 2: (500 WORDS) Recommendation An effective performance appraisal system provides guidance so employees understand what is expected of them in their position. It provides flexibility so that employee creativity is encouraged and strengths are utilized. It provides enough control so that employees understand what the organization is trying to achieve. This is why I have put forward Management By Objectives appraisal system as the recommended system that Colbran Institute should take on board. Management by Objectives Management by Objectives was first introduced in 1954 by Peter Drucker in his book The Practice of Management. MBO is an appraisal method where the manager and the subordinate define common objectives and major areas of responsibility, then compare and direct their performance against these objectives. It aims to increase organizational performance by aligning organizational and individual goals throughout the organization. George Odiorne in his thesis describes Management by objectives as a process whereby the superior and subordinate managers of an organization jointly identify its common goals, define each individuals major areas of responsibility in terms of results expected of him and use these measures as guides for operating the unit and assessing the contributions of each of its members.(Odiorne, George S. 1965) In Management by Objectives appraisal system, objectives are written down for each level of the organization, and individuals are given specific aims and targets. The principle behind this is to ensure that people know what the organization is trying to achieve, what their part of the organization must do to meet those aims, and how, as individuals, they are expected to help. This presupposes that organizations programs and methods have been fully considered. If they have not, start by constructing team objectives and ask team members to share in the process. (Heller, Robert 1998) Advantages and Disadvantages MBO overcomes some of the issues that arise from the Graphical Rate Scale as a result of assuming that the employee traits needed for their job success are the same for the whole organization and can be reliably identified and measured. The MBO method concentrates on actual outcomes, instead of assuming traits. An employee has demonstrated an acceptable level of job performance if the employee meets or exceeds the set objectives. Employees are not judged on their potential for success or on their supervisors subjective opinion of their abilities by on real outcomes. The main principle of the MBO appraisal system is that direct results can be observed, where as the traits (which might not even relate to an employees position) and attributes of employees must be guessed. Management by objectives also has its disadvantages like any appraisal method. The main issue with this appraisal technique is the initial development of objectives can be time consuming, which takes employees and managers away from there actual work. When writing objectives for a performance appraisal it must be realize that in this day and age priorities and goals are constantly changing. This is something organizations have to be able to deal with to keep ahead of the game. The Performance Management scheme The new appraisal system will fit into the overall performance management scheme by aiming to increase organizational performance by aligning goals and management objectives throughout the organization. All managers and staff will participate in the strategic planning process, in order to improve the implement ability of the plan and implement a range of performance systems, designed to help the organization stay on track. Colbran Institute employees will get more input into identifying their objectives, milestones and timelines for completion and have a clear understanding of how their roles and responsibilities contribute to the aims of the organization as well as its strategic goals. Management by objectives also includes ongoing tracking and feedback in the process to reach objectives. MBO would be appropriate for Colbran Institute to take on board because it is a knowledge-based organization where the employees are competent in their jobs. It is appropriate in this situation as we wont to build employees management and self-leadership skills and utilize their creativity and knowledge. Conclusion: This report has analyzed the role of performance management at Colbran Institute. It has taken a look at the current performance appraisal method and put forward a new structure which involves Management by objectives. Management of objectives is an efficient and balanced technique that will allow management to receive maximum results form their current employees by focusing on achievable goals.

Celebrity Culture

Another trait which defines America’s culture and identity is the culture of celebrities. With plenty of wealth, fame, and attention, celebrities display to the middle and lower class citizens the ways of life of upper class citizens and nationwide divas. Moreover, they advance these images of themselves by exhibiting their multi-bedroom houses and mansions, multiple vehicles, designer clothing, and their extravagant jewelry. The feeling of being â€Å"on top of the world† only guides celebrities towards a path of demise and wrongdoing. Drugs, sex, and incarcerations have been the result of the celebrity mindset of immortality.Any medium can be viewed as a vehicle for creating a celebrity culture. Celebrity culture, once restricted to royalty and biblical/mythical figures, has pervaded many sectors of society including business, publishing, and even academia. Mass media has increased the exposure and power of celebrity. A trend has developed that celebrity carries with it increasingly more social capital than in earlier times. Celebrity fame was established for an individual or group with recognition of raw talent. Celebrities in the 20th century rightfully deserved every bit of attention received due to their talents that have yet to be seen before.Celebrity figures such as Muhammed Ali and Wilt Chamberlain received celebrity status through athletics, simply due to the fact that they were accomplishing goals in their respected sports that have never been done before. People watched Muhammed Ali fight more swiftly than any fighter before and have a great fighting career. Also, they watched all seven foot one inch, two hundred seventy five pound Wilt Chamberlain being a â€Å"one-man wrecking crew† scoring 100 points in a single basketball game, which still to this day has been accomplished.With technological and medicinal differences in comparison from today and decades past, the actions and luxuries of celebrities were altered. Celebrities in the 20th century were introduced to the widespread of drugs, which led to the downfall of some careers. Most famously, Marilyn Monroe fell prey to the vast influential movement of drugs in America. In the peak of a great career as an actress, model, and playboy centerfold, she'd begun to lose herself to self-doubt, depression, drugs, and alcohol. Marilyn Monroe began taking sleeping pills for her insomnia.She regularly consulted psychiatrists. She drank heavily, and began a habit of arriving late to work, and sometimes not being able to work at all. Celebrities in this era have been noticed publicly wearing expensive jewelry, very appealing makeup, and flashy attire. Among the expensive jewelry were pearl necklaces, diamond rings/ earrings, and top of the line watches. Women displayed sex appeal by wearing bright red lipstick, which Marilyn Monroe most famously wore in the movies she acted in and photo shoots she was in.A trendy attire for celebrities was the fur coats. As outst anding as it appeared, it spoke to the public shouting â€Å"I have a lot of money†. Celebrities wore these outfits to the front row of Boxing matches, sporting events, theater openings, and nightclubs. In today’s world, a celebrity can be introduced through inheritance, skill, a bizarre action, and more. A celebrity today is equivalent to a person with a lot of money or a person who once had a lot of money. The celebrity status of today does not require any skill, talent, or any self-made accomplishments.A child born into a wealthy family is nowadays considered a family once he or she does something to catch the attention of the media. For example, Paris Hilton, great granddaughter of millionaire Conrad Hilton, who established Hilton Hotels, is considered to be a celebrity. Hilton’s fame sprouted from her controversial appearance in a sex tape in 2003. After being noticed in her tape, she received opportunities to be come a American socialite, media personality , model, singer, author, fashion designer and actress. Drug abuse among today’s celebrities is a growing problem.News headlines weekly feature another celebrity incarcerated for possession of drugs or other drug/alcohol related crimes. New generations of teens are deeply affected by this negative media and are taking part in the same actions. Britney Spears and Lindsay Lohan are most notably in headlines about arrests for drug/alcohol related incidents and admission into rehabilitation centers. However it is not all negative news in today’s celebrity culture. There are celebrities in today’s world who use their money and wealth to make a difference in today’s world.Stars such as Brad Pitt and Angelina Jolie use their money to adopt less fortunate kids without families to provide them with a family and better lives. They have several adopted children of different ethnicities to teach their children not to discriminate against people who are different. Anot her star, Wycliffe Jean, a musician, has donated millions of dollars to Haiti after their devastating earthquakes which left about a third of the nation dead or injured. The future for celebrity culture is unpredictable, however based on the increasing reports of drug and alcohol related crimes, the outlook seems negative.Celebrities appear to only be getting more selfish and irresponsible with their wealth and their fame. Also the birth of celebrities is occurring too rapidly and pointlessly. For instance, reality TV is producing celebrities which have no morals for the next generation to look up to. Hopefully, celebrities will start to take notice on how much damage they are abusing on American teens. A decrease in their wrongdoing will positively effect our youth and America’s image as a whole. We will no longer be perceived as the selfish slobs we are portrayed as today, but as a friendly giving country that we strive to be.

Research about plastic recycling Essay

1. Introduction The task for the students was to write about a topic that interested them, and to apply the learned knowledge and skills in connection with the course information literacy. First step was to get an idea of what to write, therefore brainstorming was the adequate method. With the gained information an own mindmap was created. Underneath, we can find both brainstorms, according to those brainstorms the topic has been chosen. Then the research question was formulated: â€Å"What should we do with our plastic rubbish?† Furthemore three subquestions were formulated: â€Å"What is the current situation of plastic pollution?† â€Å"How can we recycle our plastic rubbish?† and â€Å"Which are the best possibilities to recycle plastic?† The purpose of this research is to find out the damage that is caused by plastic rubbish and how to avoid it. Plastic rubbish is a global problem and affects us all. This research will be based on secondary research, so by existing literature. The following chapters describe the findings of this report. Firstly it explains the search plan, made to lead the research. Secondly summaries of two main articles will be given and judged upon their professionalism due to the help of the CARS checklist. A literature review of one of the summarized reports will be given. The report will also contain a chapter about plagiarism and research ethics, which are very important to remember while writing a report. Finally the last chapter â€Å"discussion and conclusion† summarizes the findings of this report. Table 1:Samuel Thà ¶nnes, course Information Literacy. Table 2: Samuel Thà ¶nnes, course Information Literacy. 2. Search plan 1. Search question: What is the current situation in plastic pollution? How can we recycle our plastic rubbish? Which are the best possibilities to recycle plastic? 2. Search terms: plastic rubbish worldwide, problems of plastic rubbish (worldwide), Recycling methods for plastic, most effective recycling methods for plastic, plastic recycling process, innovative plastic recycling methods 3. Information search method: internet search engines (google, bing), internet library HZ 4.Information sources used: scientific articles, reports, websites 3. Summary of the article â€Å"Global declaration on plastic pollution†. Nowadays people are in permanent contact with packages, bottles, toys and a lot more products consisting out of plastic. Most of the products end up as rubbish after the first hour they have been bought. About the question what  is happening to the plastic once it is thrown away, hardly anyone is thinking. The answer is simple, the plastic is coming back to cause even more damage. The way it comes back hardly anyone can imagine. It is coming back through our food chain, to fulfill its task, causing diseases to animals and finally to human kind, which is last in the food chain. For the last 60 years society has been using plastic in a wasteful way, with little concern in which ways this valuable, important and useful product can properly be disposed or recycled. The results are catastrophic, between 60 to 80 % of marine debris are in direct connection with plastic products. In the 5 largest gyres of our oceans enormous quantities of plastic are concentrated, with enormous consequences for the animals that live in the ocean. The consequences are going further to the food chain and human health. (Catto Fellowship Program, 2012, p.2) Plastic is not biodegradable, its decomposing into micro particles. Those tiny pieces are impossible to get out of the water, and the pollution degree is growing on a daily basis. The ocean plastic pollution can be identified as persistent, bioaccumulating and toxic substances. Due to chemical substances, as polychlorinated biphenol, PCBs, the pesticide DDT, several chronic health effects, as endocrine disruption, mutagenicity and carcinogenicity can be observed. (Catto Fellowship Program, 2012, p. 2) After summarizing the main facts of the pollution which can be traced to plastic rubbish, the next step is to find out what possibilities do we have to recycle the plastic. 3.1 CARS checklist on â€Å"Global declaration on plastic pollution†. CREDIBILITY: -Trustworthy source: As the article †Global declaration on plastic pollution† is a submission from the united nations conference on  sustainable development in advance of the Rio earth summit, I would call this source a very reliable one. – Author’s credentials: Detailed information are not given. Only given is that it is the Catto Fellowship Program an initiative from the UN. – Evidence of quality control: This article was published on the online site of the UN, which has to make sure that the quality of the published articles are good. – Known or respected authority/organizational support: The united nations are well known and have respected authority. Organizational support is also given through several experts, which is ubiquitous knowledge, that these kind of organizations have full access to any kind of expertise. Conclusion: The CREDIBILITY of this research is given. ACCURACY: – up-to-date(partially): The research was published in June 2012, nevertheless the used facts have not changed since then. – factual/detailed/exact: This submission contains detailed facts as it was prepared for the â€Å"Rio Earth Summit†. It is worked out in a very detailed way. -comprehensive: As 172 governments participated on the â€Å"Rio Earth Summit†, it was written in a very comprehensive way, which is also accessible to public. -Audience and purpose reflect intentions of completeness and accuracy: This document supports my own research, as it is giving me important facts about the world wide pollution of plastic rubbish. Conclusion: the ACCURACY of this research is given. REASONABLENESS: -Fair/ Balanced/ Objective/Reasoned: This document has been written in a very objective way, reasoned by facts, which have been researched through  experts. Furthermore that makes it fair and balanced. -No conflict of interest: We can find a conflict of interest between the research of the United Nations and large industrial companies, which are depending on the wasteful use of plastic. Despite the fact that this conflict of interest can not be found in the text, but relies on common sense. -Absence of fallacies or slanted tone: Nevertheless no slanted tone against anyone was found in the document, which makes it very objectively. Conclusion: The REASONABLENESS of this research is given. SUPPORT: – Listed sources: At the end we can find several companies which support the ideas of the United Nations. – Contact information: Contact information are provided through the United Nations itself, and can be found on their website. Conclusion: the SUPPORT of this research is given; as we could contact co-workers from the United Nations, to get more information. 3.2 Literature Review on â€Å"Global declaration on plastic pollution†. What is the specific topic of this article? The topic of this article is about the actual situation in plastic pollution world wide. What is the objective of this article? The objective of this article is to provide information about the world wide plastic pollution. In this case it was written for the â€Å"Rio Earth Summit. What are the theoretical assumptions? Assumption 1: Plastic pollution is a global problem. Assumption 2: A huge part of the ocean is affected by plastic pollution. Assumption 3: Plastic pollution is getting worse every day, and has to be stopped. How do the theoretical assumptions fit to your research? The theoretical assumptions do fit my research, because it answers the sub question â€Å"What is the current situation in plastic pollution?† Is there reference to specific concepts of theories/ What are the sources of information the author used? Unfortunately there are no specific information about the author. Only information about the organization, the United Nations, are given. What is the research method? The article has been written through expert opinions, which are working for the United Nations. Which type of material does the article present? As it is written from experts it contains their own field research. How did the author analyze and present the data? The data were presented relying on facts through expertise, so the author based the article on expertise. Does the author describe how the data could be interpreted? A clear description is not contain, the article only gives information about the actual plastic pollution situation and the consequences. What are the main conclusions in the article? As main conclusion it can clearly been identified that the actual situation is catastrophic and is even getting worse. 60 to 80% of marine debris are in direct contact with plastic pollution, the 5 largest gyres of our oceans show an enormous concentration of plastic pollution. This high concentration of plastic pollution results into our food chain being affected and finally being the cause for several diseases for animals and humanity. 4.Summary of the article „5 Stages of the Plastic Recycling Process† Defintion First of all it has to be clarified what plastic recycling means by definition: â€Å"Plastic recycling is the term given to the processing of waste plastic which turns old or scrap plastic in to a useable product which can then re-enter the manufacturing chain. In order for the plastic to be in a suitable format for re use in manufacturing environments such as by injection moulding companies the waste or scrap plastic, needs to go through several recycling processes†. (Daniel Marriott, 5 Stages of Plastic Recycling Process, 2011) Classify Numbers Before explaining the 5 stages of the plastic recycling process, the importance of the 7 numbers given to each plastic product while being produced, has to be explained. -Number 1 is used for â€Å"PETE†, which means Poly(ethylene terephthalate): Soda bottles, water bottles, vinegar bottles, medicine containers, backing for photography film. -Number 2 is used for â€Å"HDPE†, which means high-density Polyethylene: Containers for: laundry/dish detergent, fabric softeners, bleach, milk, shampoo, conditioner, motor oil.  Newer bullet proof vests, various toys. -Number 3 is used for â€Å"V†, which means Poly(vinyl cloride): Pipes, shower curtains, meat wraps, cooking oil bottles, baby bottle nipples, shrink wrap, clear medical tubing, vinyl dashboards and seat covers, coffee containers. -Number 4 is used for â€Å"LDPE†, which means low-density Polyethylene: Wrapping films, grocery bags, sandwich bags. -Number 5 is used for â€Å"PP†, which means Pol ypropylene: Tupperware ®, syrup bottles, yogurt tubs, diapers, outdoor carpet. -Number 6 is used for â€Å"PS†, which means Polystyrene: Coffee cups, disposable cutlery and cups (clear and colored), bakery shells, meat trays, â€Å"cheap† hubcaps, packing peanuts, styrofoam insulation. -Number 7 is used for â€Å"OTHER† Products labeled as â€Å"other† are made of any combination of 1-6 or another, less commonly used plastic and therefor very difficult to recycle. (Eco Reading, 2007) 5 Stages of Plastic recycling Stage one – Sorting the plastic In the first stage the plastic is collected by the recycling company and gets to the recycling plant. At the plant the plastic gets sorted out into specific types of plastic. In total 7 different numbers which are used to specify, which kind of plastic is maintained, can be identified: The problem in plastic recycling is that mixed recycled plastic cannot deliver good quality in manufacturing, therefore it is sometimes difficult or impossible to recycle the plastic to produce new plastic out of it. Recycling companies must therefore pay attention especially to sort out waste plastic. Stage two – Washing Waste Plastic Once the plastic has been sorted out, the washing process begins. Paper labels get removed, as adhesives and other impurities. Any third-party product on the plastic will lower the quality of the recycled plastic. StageThree- Shredding the Plastic In the third step the plastic is getting shredded through huge hoppers that funnel the clean scrap towards rotating metal teeth. The plastic is ripped in to small pellets, which are bagged and tested afterwards. Stage Four – Identify and Classify the Plastic After being bagged the plastic is getting tested chemically and labelled to its exact specification. Either the rGrade plastic can be used for manufacturing by adding a mix of virgin plastic, or it can be further recycled. Stage Five – Extruding In the last step the clean shredded plastic is going to be extruded in to form of pellets, so that it can be either used for manufacturing of for further recycling. (Daniel Marriott, 5 Stages of Plastic Recycling Process 2011) 4.1 CARS checklist on „5 Stages of the Plastic Recycling Process†. CREDIBILITY: -Trustworthy source: PR Log is an online press release distribution and press release submission service. Main objective of this site is to publish news from all over the world in the industry sector. The article â€Å"5 Stages of the Plastic Recycling Process† is supported by the company â€Å"Ck Polymers†, which is a multi-national distributor of rGrade plastic. Therefore we can call this source trustworthy. – Author’s credentials: The author â€Å"Daniel Marriott† is mentioned, it is possible to contact him via email through a hyperlink and via his phone number. 0845 8730037. As a conclusion it can be said, if further questions are necessary, it would be possible to contact the author. – Evidence of quality control: This article was published on the online site  of â€Å"PR Log† and is supported by the company â€Å"Ck Polymers†, which makes sure that the quality of the article is given. – Known or respected authority/organizational support: â€Å"PR Log† is a registered company and all the published content must be controlled. Furthermore it is supported by the company â€Å"Ck Polymers†, which is in the recycling business. Conclusion: The CREDIBILITY of this article is given. ACCURACY: – up-to-date: The article was published in October 2011, we can not call this up-to-date, on the other hand it can not be called old, because the process has probably not changed. – factual/detailed/exact: This article only contains facts , is very detailed and exact about the whole process and the five steps. -comprehensive: The article is very easy to understand and to read , which makes is very comprehensive.the -Audience and purpose reflect intentions of completeness and accuracy: This article supports my own research, as it is giving me important facts about the plastic recycling process. Conclusion: the ACCURACY of this research is given. REASONABLENESS: -Fair/ Balanced/ Objective/Reasoned: This document has been written in a very objective way, reasoned by facts, which have been researched through the company â€Å"Ck Polymers†, which exerts the written process. Furthermore the article is fair and balanced as no one is getting offended. -No conflict of interest: No conflict of interest can be found in the article, as it is only informing about a possible recycling process. No one gets offended. -Absence of fallacies or slanted tone: No slanted tone against anyone was found in the article, which makes it very objectively. Conclusion: The REASONABLENESS of this research is given. SUPPORT: – Listed sources: At the end of the article three hyperlinks can be found, leading to â€Å"Ck Polymers†, where the information is coming from. – Contact information: Either the possibility is given to contact directly the author of the article, or through the hyperlink from the company â€Å"Ck Polymers†. Conclusion: the SUPPORT of this research is given 4.2 Literature Review on „5 Stages of the Plastic Recycling Process†. What is the specific topic of this article? The topic of this article is the five step plastic recycling process. What is the objective of this article? The objective of this article is to provide information about how the five step plastic recycling process works in practice. What are the theoretical assumptions? Assumption 1: Plastic recycling is a great economically opportunity. Assumption 2: The recycling process is simple and effective. How do the theoretical assumptions fit to your research? The theoretical assumptions do fit my research, because it answers the sub question â€Å"How can we recycle plastic?† The article shows me a clear opportunity how to recycle plastic? Is there reference to specific concepts of theories/ What are the sources of information the author used? There is a reference existing, linking to a company using the five step recycling process. The author is basing his information on this source/company. What is the research method? The research method is secondary research, the author made a research by contacting the company to get detailed information. Which type of material does the article present? The article presents detailed knowledge about the recycling process. How did the author analyze and present the data? The data were presented relying on facts through expertise from the company â€Å"Ck Polymers†, so the author based the article on the expertise of the company. Does the author describe how the data could be interpreted? An interpretation is not available, the article only gives information about the five step recycling process. What are the main conclusions in the article? The main conclusion in this article is that we can make the difference between 7 different numbers every plastic material contains for the recycling process. Furthermore we get a detailed explanation about the five  step process, in which the plastic gets sorted, washed, schredded, identified/classified and finally extruded. The end product is called rGrade plastic, which can either be manufactured by adding virgin plastic, or being used for further recycling. 5. Summary of the article â€Å"Startups make plastic rubbish to oil†. This article is about the possibility to transform plastic rubbish into oil. Oil is one of the most used and important products and nowadays called the â€Å"black gold†. Oil relies on 10% of the world wide plastic production, so the main question should be. Why don’t we recycle it back to oil? The possibility for this recycling process is given now. Pioneer companies as â€Å"Agilyx† and â€Å"Vadxx† developed a process, in which plastic can be transformed to oil again. The result is out of 5 kilogram plastic, 3,8 liter oil can be won.. Looking at the yearly production of 265 million tons of plastic, which moves right away to our garbage 1.5 billion barrels of oil, could be recycled. Only in Europe around 70 million tons of plastic rubbish are ending up on landfills. Looking at the actual landfills, which could be seen as giant oil pits. The process is simple. In a first step the plastic gets assorted. In the second step the assorted plastic gets shredded and heated up to 400 degrees. The resulting synthetic gas cools down and is transformed into the end product, oil. According to â€Å"Agilyx† 75% of the oil, which is located in the plastic, can be recycled. Not forgetting the CO2 emission, which is 60 % lower as if we would simply burn the plastic. (Innovation: Startup makes plastic to oil, 2013) Meanwhile this plastic recycling noise is spreading all over the world. In Germany for example the company â€Å"Nill Tech† situated in Mannheim has opened a factory, which is using the same procedure.(Company in Mannheim makes plastic to oil, 2013) 5.1 CARS checklist on â€Å"Startups make plastic rubbish to oil† and â€Å"Company in Mannheim makes plastic to oil†. CREDIBILITY: – Trustworthy source: Both articles are written by the German author â€Å"Benjamin Reuter†, who is working for the magazine â€Å"Wirtschafts Woche Green† , the information are coming from an interview with the named companies, which makes the article trustworthy. – Author’s credentials: Unfortunately, no details about the authors can be found in the report itself, only his name. More information about the author can be found through the Magazine â€Å"Wirtschafts Woche Green†. – Evidence of quality control: This article was published on the online site of the magazine â€Å"Wirtschafts Woche Green†, this magazine is focusing on reporting over innovative technologies and companies. A quality control is guaranteed. – Known or respected authority/organizational support: The magazine â€Å"Wirtschafts Woche Green† is a registered company, which means that the all the online articles are controlled. Conclusion: The CREDIBILITY of these articles are given. ACCURACY: – up-to-date: The articles were posted on January 2013, 11 month ago. – factual/detailed/exact: These articles were made from interviews with the named companies concerning their technology and procedure. -comprehensive: These articles can be called comprehensive as a lot of important information for my report are given. -Audience and purpose reflect intentions of completeness and accuracy: These articles supports my own research, as it gives all detailed information about the possibility , how to recycle plastic. Conclusion: the ACCURACY of this research is good. REASONABLENESS: -Fair/ Balanced/ Objective/Reasoned: These articles are fair, balanced,  objective and reasoned, as direct information from the mentioned companies were given. -No conflict of interest: These articles do not contain any conflict of interest, as it is written to inform public and does not offend anyone. – Absence of fallacies or slanted tone: No slanted tone was found in these articles. Conclusion: The REASONABLENESS of this research is given. SUPPORT: – Listed sources: a list of references is not given. – Contact information: No contact information of the authors, only the magazine can be contacted directly. Conclusion: the SUPPORT of this research is partially given 5.2 Literature Review on â€Å"Startups make plastic rubbish to oil† and â€Å"Company in Mannheim makes plastic to oil†. What is the specific topic of this article? The topic of this article is the process making oil out of recycled plastic. What is the objective of this article? The objective of this article is to provide information about how the process making oil out of recycled plastic works in practice. What are the theoretical assumptions? Assumption 1: Recycling is a great opportunity to gain raw material. Assumption 2: Oil is one of the most important resources nowadays. Assumption 3: The resource oil will even become more important in the future. How do the theoretical assumptions fit to your research? The theoretical assumptions do fit my research, because it answers the sub question â€Å"How can we recycle plastic?† and â€Å"Which are the best possibilities to recycle plastic?† The article shows a clear opportunity how to recycle plastic and make oil out of it again. As Oil is an important resource nowadays it can be seen as the best possibility together with the five step process of recycling plastic. Is there reference to specific concepts of theories/ What are the sources of information the author used? The article contains a link to the companys â€Å"Agylix† and â€Å"Vadxx†, which can be seen as a reference. The recycling process is explained with a video, which can also be seen as a reference. The sources the author used are definitely coming from the above mentioned companies. What is the research method? The research method is secondary research, the author made a research by contacting the company to get detailed information. Which type of material does the article present? The article presents detailed knowledge about the recycling process. How did the author analyze and present the data? The data were presented relying on facts through expertise from the company â€Å"Agylix† and â€Å"Vadxx†, so the author based the article on the expertise of the company. Does the author describe how the data could be interpreted? An interpretation is not available, the article only gives information about the recycling process making oil out of plastic. What are the main conclusions in the article? Main conclusion of the article is that there is possibility to get oil out of recycled plastic. Oil is one of the most wanted resources nowadays. Pioneer companies made it possible to develop a process, where 3,8 liter oil can be produced out of 5 kilogram of plastic. Furthermore the process is being explained, working as follows: The plastic gets assorted and shredded. The shredded plastic is going to be heated up by 400 degrees. Due to this heating up process, results synthetic gas. In a next step the synthetic gas cools down and results into oil, which can be used again. A last point is the CO2 emission, which is 60%, then if the plastic would simply be burned. 6. Plagiarism First of all what is Plagiarism? Definition found on â€Å"Dictionary.com†: Plagiarism is an act or instance of using or closely imitating the language and thoughts of another author without authorization and the representation of that author’s work as one’s own, as by not crediting the original author. In short, plagiarism is all about stealing someone else’s work and lying about it afterwards. During my research on how to recycle plastic rubbish, I tried to prevent plagiarism by summarizing the article into my own words. Furthermore every used source is given in APA style, at the end of the text. In short I used someone else’s knowledge, but summarized it into my own words. 7. Research ethics According to the known information the used sources did not break any common research ethics. The author of this research used information, which were freely obtainable for everyone on the Internet. In order to prevent plagiarism and only use the sources for knowledge and information, no common research ethics was broken. It was not necessary to ask permission to use the mentioned sources. 8. Discussion and Conclusion Then the research question was formulated: â€Å"What should we do with our plastic rubbish?† Furthemore three subquestions were formulated: â€Å"What is the current situation and why is it like that?† â€Å"How can we recycle our plastic rubbish?† and â€Å"Which are the best possibilities to recycle plastic?† The main research question was â€Å"What should we do with our plastic rubbish?† The first sub question â€Å"What is the current situation of plastic pollution?†, was answered as follows: It was found out that the actual situation is catastrophic and is even getting worse. 60 to 80% of marine debris are in direct contact with plastic pollution, the 5 largest gyres of our oceans show an enormous concentration of plastic pollution. This high concentration of plastic pollution results into our food chain being affected and finally being the cause for several diseases for animals and humanity. This fact lead to the next sub question, â€Å"How can we recycle our plastic rubbish?† The answer to this question has been found in the two other summarized articles. It has been found out that there are companies, which are specialized in plastic recycling, following a five step process. In this five step process the plastic gets sorted, washed, schredded, identified/classified and finally extruded. The end product is called rGrade plastic, which can either be manufactured by adding virgin plastic, or used for further recycling. This further recycling leads us to a second effective possibility of plastic recycling. Transforming plastic into oil, which is one of the most wanted resources nowadays. Pioneer companies made it possible to develop a process, where 3,8 liter oil can be produced out of 5 kilogram of plastic. This process works as follows: The plastic gets assorted and shredded. The shredded plastic is going to be heated up by 400 degrees. Due to this heating up process, results synthetic gas. In a next step the synthetic gas cools down and results into oil, which can be used again. An important aspect of this process is also the CO2 emission. It uses 60% less CO2 emission, then if the plastic would simply be burned. The last sub question â€Å"Which are the best possibilities to recycle plastic†, has also been answered. We can say that the â€Å"five step recycling process† is the basic, which should be consequently applied all over the world. The possibility to gain oil out of used plastic again, should be seen as a continuation on the â€Å"five step recycling process†. To answer the main question â€Å"What should we do with our plastic rubbish?† It can be said that the answer is recycling as much as possible. Recycling due to innovative techniques, which can be further developed and ameliorated. The reason humanity has to focus on plastic recycling is not only because of the fact humanity is polluting his earth, which is our source of life. Furthermore the wasteful use of resources will create economical crises, prices of essential products will rise into immeasurable circumstances and make life on earth much harder. All people do need to start thinking long-term and more important in a sustainable way! 9. Reference List 9.1 Summaries, Literature review Catto Fellowship Program (2012). â€Å"Global declaration on plastic pollution† SUBMISSION TO UNITED NATIONS CONFERENCE ON SUSTAINABLE DEVELOPMENT In advance of the rio earth summit. Written on June, 2012, from http://www.uncsd2012.org/content/documents/621Cattos%20Plastic%20Pollution%20 Submission.pdf Benjamin Reuter (2013). Wirtschafts Woche Green, Startup company makes plastic to oil. Written on January, 2013, from http://green.wiwo.de/kreislaufwirtschaft-plastikdeponien-werden-zu-olfeldern/ Benjamin Reuter (2013). WirtschaftsWoche Green, Company in Mannheim makes plastic to oil. Written on January 31, 2013, from http://green.wiwo.de/innovation-fabrik-in-mannheim-macht-plastikmull-zu-ol/ Daniel Marriott (2011). Pr Log, 5 Stages of the Plastic Recycling Process. Written on October 27, 2011, from http://www.prlog.org/11708649-5-stages-of-the-plastic-recycling-process.html 9.2 Other articles Technikatlas.de. Plastic recycling from http://www.technikatlas.de/~tb4/recycling.htm Diana Bocco & Bronwyn Harris (2013). How is plastic recycled? Written on December 20, 2013 from http://www.wisegeek.org/how-is-plastic-recycled.htm Eco Reading (2007). Reading Recycles 1-7 Plastic. Written on June 7, 2007, from http://ecoreading.blogspot.nl/2007/06/reading-recycles-1-7-plastic.html Ck Polymers. Website from recycling company : http://www.ckpolymers.co.uk/ http://www.ckpolymers.co.uk/polymers http://www.ckpolymers.co.uk/polymers/plastic-identification-information 9.3 Pictures Front page picture: https://www.google.nl/search?hl=de&site=imghp&tbm=isch&source=hp&biw=1280&bih= 621&q=Plastikm%C3%BCll&oq=Plastikm%C3%BCll&gs_l=img.3..0l10.2259.6057.0.6372.13.10.1.2.2.0.119.949.7j3.10.0†¦.0†¦1ac.1.27.img..0.13.998.sgL6hhgqFyY#facrc=_&imgdii=_&imgrc=UKWSgudQNm8SGM%3A%3BIHIxbqd3Gq6txM%3Bhttp%253A%252F%252Fwww.wz-newsline.de%252Fpolopoly_fs%252F1.1289863.1365710844!%252FhttpImage%252FonlineImage.jpg_gen%252Fderivatives%252Flandscape_550%252FonlineImage.jpg%3Bhttp%253A%252F%252Fwww.wz-newsline.de%252Fhome%252Fpolitik%252Fvermuellte-meere-kampf-gegen-kostenlose-plastiktueten-1.1289876%3B550%3B328