Self-Evaluation Paper Essay Example | Topics and Well Written Essays - 500 words

Self-Evaluation Paper - Essay Example Having learned all the above, I can confidently say that I have attained my educational goals for this course. My goals in this course were not as deep and wide as what we have already covered in this course. The course being about Academic Reading and Study Skills, I never anticipated that we would go as deep as to studying topics such as analyzing an annotation and Academic vocabularies. One of my prime goals was to formulate a plan on how I can understand written materials in a shorter time period than I was before the course. I have achieved this goal. The skills acquired in ESL 23 come in handy in academics writing and in professional work. I expect to use note-taking skills in writing core information dictated by lectures in classes. Reading skills are also vital in understanding day to day material that we read such as newspapers and comprehensively understanding questions asked during examinations. Skills acquired in this course can be effectively applied in professional work such as research writing, journalism and report writing. Here, one needs to know how to write good summaries by separation the main and minor points in writings. There were lots of things to enjoy in this course. This is directly as a result of the professionalism and friendly learning environment created by the lecturer. Students also made the lessons interactive capturing my attention during the entire class period. The efficient course system was quite good since it ensured that vital knowledge in the course content was excellently passed to students throughout the semester. The least impressive situation regarding this course was the unanticipated urgency of the time line near the end of the semester. Having learned and increased my knowledge regarding vast skills in reading and writing, there are some strategies that I need to acquit myself to more. One of these is the SQ3R strategy. This is because it needs a lot of practice

Ardiff - Regeneration of cardiff, what it offers to business Essay

Ardiff - Regeneration of cardiff, what it offers to business - Essay Example The paper will discuss how culture and heritage is developed for purpose of tourism activities. Another important area analysed is role of culture and diversity for an organization like Motorpoint arena Cardiff. The report will shed light on ethical considerations while conducting tourism activities at Motorpoint Arena Cardiff and how it affects all stakeholders. Since every business does lack challenges, the report will also examine management challenges in operating business in leisure industry. An appropriate conclusion and recommendations are also provided. Cardiff and Motorpoint Arena Cardiff Cardiff remains to be one of the most vibrant cosmopolitan European capitals that are regenerating at a fast rate in economic, social and in infrastructural development. Its location provides it the best opportunity of being accessible within a few hours from London. It is connected by train to London. Reflecting on the growth of Cardiff as capital city of Wales it has an enthralling past a nd an exciting future. It has conserved its history in the great museum and various attraction sites like Roman fortress. It is a country filled with the history of Romans, Normans and Victorians who were a great help in shaping Cardiff city. Cardiff castle and Cardiff bay which is considered as meeting place and where the city comes to rest. The city hosts several international games including inshore race and harbour festivals (Kim & Robert, 2002, pp.45-49). Motorpoint Arena Cardiff is located at the centre of Cardiff. It was usually known as Cardiff International Arena before it was bought by Motorpoint. It provides the largest exhibition space in Cardiff and has a capacity of over 7,500. Its ability to hold international events, comedy performances, sports and concerts gives it the attraction that motivates tourists into visiting it. Its location is one of its advantages in that it is located within commerce centre of Newport and a shot walking distance from the Millennium Stadi um. It is located at entrance of Wales giving it a chance to be accessed by M4 motorway. It provides all catering services including 24 hour lounge menu for hotel residents. Regeneration of Cardiff and what it offers to business Economically Cardiff city provides almost 20% of GDP of the country. Regeneration of Cardiff was due to increased demand in coal which was a necessary raw material in production of steel and iron. It has attracted foreign direct investment and hence stabilizing its economic standards. Since it is a country that conserves its history it attracts tourists into the city who come to study their culture and way of existence. They have made it possible for construction of accommodation facilities hence increasing standard of economy in the country (WTTC, 2002, np). Infrastructure development is one sector that Cardiff has invested in. This ranges from transport sector, sports and communication development. It is one of the best transport links indicating its good location for business. Location of the city close to M4 motorway and the junction improved its

Psychological Well-being and Job Performance Relationship

Psychological Well-being and Job Performance Relationship Introduction Psychological conceptions and treatments of well-being are a prominent feature of psychological literature particularly in relation to mental health from a social-psychological point of view. The fundamental questions asked in this area are arguably concerned with the way and means of understanding the psychological reactions of individuals to the stresses and challenges of modern day life activities, (Bradburn, 1969). With work being one of the major activities of life it is reasonable to surmise work will have a significant impact on mental health and that vice versa mental health will have a significant impact on a person’s performance and experience of work. With the diversity of criteria which can be used to judge mental health the psychological aspects to mental health have become increasingly important associated in human resource management literature as well organisational behaviour research because of the suggested strong relationship between an individual’s p sychological condition and job performance. Researchers such as David and Smeeding (1985) and more recently Wright and Cropanzano (2004) argue that psychological well-being in terms of happiness contributes to maximising both personal health as well as job performance in terms of organisational productivity. It is reasonable to believe that such a consideration of mental health has valuable implications in managing human resources. With links to employee motivation and job performance management and from an organisational perspective the theoretical framework offered by mental health provides a useful tool in understanding an organisation’s behaviour through reference to the psychological well-being of individuals within the organisational context. In one way then considering for example staff retention which is a key element of organisational strategies since human resources have been viewed recently as one of the most important resources for any organisation, (Torrington, Hall and Taylor (2002). Furthermore happy employees tend to be more productive and contribute more in creation and innovation activities which are crucial activities for organisations given the competitive realities of the modern business world, (Wright and Cropanzano, 2004). However currently there is no gener al agreement about the best way to measure, assess and/or evaluate people’s psychological states. Terms such as self-esteem, self adjustment in dealing with work stress have critical influences on the level of well-being. Social support at work related to psychological well-being may be said to affect productivity of employees which itself is argued to have positive effects on job control, lower job depression and generate higher productivity. Nevertheless the extent to which social support contributes to better performance remains unclear due to the complexities of psychological reactions and the processes comprising them. Discussion An important perspective on well-being originates from the social-psychological perspective which focuses on viewing well-being in both an individual and social sense. One means of conceptualising well-being is in an individual psychological manner where the subject is linked with economic models in that individuals make rational responses in changing their behaviour due to changing prices and incomes. Another traditional aspect of the subjective activity of well-being focuses on the measurement of well-being for social policy purposes which historically has been concerned with tax return, pensions, use of health care resources and work environment affairs, (David Smeeding, 1985). From this point of view there are vital implications in the sense of the psychological subject in human resource management and studies dealing with organisational behaviour since people as the essential elements performing tasks in these contexts. For example the recent broaden-and-build model has been de signed to provide relevant evidence towards explaining the possible interactive role of physiological well-being (PWB) associated with job satisfaction and job performance which demonstrates significant relationships to employee performance, (Wright and Cropanzano, 2004). This is to say illustrating the strength of the correlation between the happier an employee feeling with the more productive they are in their everyday job performance. Based on this viewpoint then human resource management approaches have aimed at building management models which draw from and benefit from PWB in order to improve an organisation’s performance in terms of quality and quantity. A principal point of consideration in this then is the environment in which people are working in as detrimental work environments pose potential health risks to individuals. Health risks can be seen in terms of the physical harm done to people’s bodies but also as having negative influences in a psychological manner including depression and stress which results in poor job performance and lowered productivity. Thus PWB suggests that a better and healthier working environment will be able to make employee feels more comfortable and happier through health gains in harm avoidance in the work place. In HRM literature environment not only includes physical environments such as machinery, organisational structure but also intangible contexts like orga nisational culture and leadership styles and these are equally as important in terms of employee well-being. Therefore Beardwell, Holden and Claydon (2004) argue that appropriate organisational structures in terms of physical power distance as well as intangible distance such as leadership style are important in contributing to employees job performance. Research suggests that long power distances result in staff at lower levels within an organisation feeling powerless and vulnerable with the consequences being they suffer stress at work since there is a lack of opportunity in expressing themselves within the decision making processes affecting them, (Hersey, Blanchard Johnson, 2001). Additionally the corporate environment in terms of employment contracts themselves a process of socio-economic exchange often in national contexts is particularly crucial as it defines formalised arrangements between employee and the organisation employing, (Clark, 2004). Contracts between employee and employer determine the terms and conditions of employment like security and health issues related to the job and contractual employment rights. Clark (2004) points out that the relationship between employees and management teams not only impacts on corporate performance but also influences how successful and organisation is at retaining its workforce. While Wright and Cropanzano (2004) concentrate on the psychological meaning of well-being in contributing to better job performance David and Smeeding (1985) propose that significant attention be paid to well-being from an economic perspective. Economic elements such as changing prices compared to incomes then are proposed as affecting people’s behaviours and psychological reactions. For instance research has demonstrated that higher income individuals are more likely than lower income individuals to report themselves as enjoying higher levels of happiness, (David and Smeeding, 1985). It hence is unsurprising to note that traditional human resource management approaches view performance management as enhancing individual performance by assessing past performance and rewarding improvements in terms of tangible economic benefits, (Walker, 1992). Jacques (1962) claims that every employee displays strong feeling towards to the level of payment in that such payments correspond to t he perceived values attached to the performance of tasks associated with the job. This economic model closely reflects psychological conceptions in that when employees feel they are underpaid job performance will suffer in terms of productivity and efficiency. Wright and Cropanzano’s model suggests that fair payment contributes to the happiness level of staff however it is vital to mention that the expectation of employee namely the subjectivity of well-being largely indicates different attitudes towards fairness. This is to say the employee who is paid comparably higher than others due to higher levels of education and vocational skill might feel unhappy because the pay level is still lower than the expected level. This is similar with subjective accounts of poverty of the unemployed being more a negative experience than poverty as a student dependent on their ability to adjust the reality of situations with their expectations. This corresponds with David and Smeeding’s (1985) framework on the subjectivity of well-being as a personalised experience. Recent research carried out by Gregg and Wadsworth (1999) illustrated that a good number of employee departures was due to either poorly managed expectations or ineffective induc tions into positions. This is an important point in considering psychological well-being and individual productivity as well as organisational performance illustrating that tangible economic benefits or objective conditions attached to jobs may be perceived in many different ways as a result of individual subjectivity. Wright and Hobfoll’s (2004) work linked with Wright and Cropanzano’s (2004) research in demonstrating that psychological well-being has both positive and negative influences on job performance. One such concept is that of employee burnout which refers to emotional and/or physical exhaustion and reduced personal accomplishment amongst sufferers. Employees tend to feel dissatisfied due to poor task completion and personal achievement in turn. Past experiences of failure in dealing with customers for example is suggested as being one prime means of reducing motivational attitudes towards work. With people being considered as the most important resource in contributing to organisational performance then human resource management has itself been put in a critical position in strategic decision making processes. Aspects of managing human resources have become involved in a wide range of issues such as recruitment and retention related to development, reward and relationship m anagement of employees are arguably the basic HRM functions. The process of retention of workforces lays the foundation for obtaining suitably qualified employees in order to contribute in the most effective manner to achieving corporate goals in a cost-effective manner, (Foot Hook, 1999). The relationship to these HR principles of the thesis of psychological well-being in one ways shows clearly that motivation in the employee retention process as well as better performance is a principal factor determining organisational success in these areas. Also from an individual’s perspective burnout as suggested by research tends to result in ineffectiveness and failure in job performance due to a lack of energy levels in an emotional and physical sense. This leads to stress which in turn can cause ill-health both physical and mental. Similarly from the organisation’s perspective innovation levels tends to decrease which as has been argued is important in maintaining competiti ve position for companies operating in intensively competitive industries, (Maslach Jackson, 1986; Lee Ashforth, 1996). Based on this analysis and discussion of psychological well being it would appear that a useful measure is to examine the various approaches used to improve job performance and productivity at personal and organisational levels. People are motivated by different things dependent on different individual value systems and expectations. As such in order to increase well being levels among employees organisations attempt to create better working environments relying on supportive corporate cultures, effective leadership styles and the provision of accessible communication channels. An awareness that motivation does not necessarily flow from positive salary arrangements alone is necessary as often such is considered as the most effective tool in rewarding and motivating employees. Instead potential career development opportunities for employees, employee friendly working environments and supportive management methods exert strong influences on feelings of well-being among employees. For example positive rewards in a tangible way and intangible confirmations related to good performance should encourage employees to repeat the same activities since the rewarding of successful behaviour contributes to employee’s levels of self esteem. In many ways then it is fair to say that psychological processes and subjective feelings and experiences remain complex phenomena and would seem to be influenced by a range of factors such as national cultures and the effects of reference groups like families and peer groups in for example expected income levels and job status, (Mullins, 2005). The measurement of psychological well-being contributing to better performance is conditionally true yet it must be acknowledged that the methods used in research such as by Wright and Cropanzano’s (2004) exhibit and are limited by the potential problems related to subjective reactions and perceptions of job performance by employees. Conclusion Models and theories of psychological well-being are established topics in Psychology which is held as being closely linked with conceptualisations of mental health and the mental well being of individuals. The variety of psychological reactions of individuals to stress and daily life can all result in feeling of happiness, mental health or illness depending on situational factors which has effects on people’s performance at work. As a result then psychological conceptions of well-being are widely used in considering the relationship between well-being and job performance in an organisational context. Studies have demonstrated the positive effects of employee well-being on their job performance in terms of better productivity yet due to the complex psychological processes which are involved in the condition of well-being there is still a lack of definitive evidence in demonstrating to what extent psychological well-being contributes to better job performance. Such evidence is d ifficult to produce for example bearing in mind complicated human behavioural patterns and experiences in relation to work. Linked to this definitions of happiness remain unclear and is an area which requires further research along with further explorations of the reasons feeling of satisfaction and happiness with work increases productivity. However it is fair to say that better health levels in terms of psychological well being influences people in terms of motivation and attitudes toward work as well as their capacity and ability to work. The reduction of employee sickness whether major or minor due to poor working conditions and the impact this has on organisational performance is one aspect any organisation should seek to reduce and minimise as a strategic goal. References Beardwell, I., Holden, L. Claydon, T. (2004) Human Resource Management: A Contemporary Approach 4th edition, FT Prentice Hall, London UK. Bradburn, N.M. (1969) The Structure of Psychological Well-Being, Aldine Publishing Company, Chicago. David, M. Smeeding T. (1985) Introduction, in David, M. Smeeding, T. (eds) Horizontal Equity, Uncertainty, and Economic Well-Being, National Bureau of Economic Research, Studies in Income and Wealth, Vol. 50. Foot, M. Hook, C. (1999) Introducing Human Resource Management 2nd edition, Pearson Education Limited, UK. Gregg, P. Wadsworth, J. (1999) Job Tenure 1995-98 in Gregg, P. Wadsworth (eds) The State of Working Britain, Manchester University Press, UK. Hersey, P., Blanchard, K.H. Johnson, D. (2001) Management of Organizational Behavior: Leading Human Resources, Prentice Hall, USA. Jacques, C. (1962) Objective Measures for Pay Differentials, Harvard Business Review, January-February. Lee, R.T. Ashforth, B.E. (1996) A Meta-analytic Examination of the Correlates of the Three Dimensions of Job Burnout, Journal of Applied Psychology, Vol. 81. Maslach, C. Jackson, S.E. (1986) Maslach Burnout Inventory 2nd edition, Consulting Psychologists Press, USA. Mullins, L.J. (2005) Management and Organisational Behaviour 7th edition, FT Prentice Hall, Harlow UK. Park, K., Wilson, M.G. Lee, M.S. (2004) Effects of Social Support at Work on Depression and Organisational Productivity, American Journal of Health Behaviour, Vol. 28 Issue 5. Torrington, D., Hall, L. Taylor, S. (2002) Human Resource Management, FT Prentice Hall, Harlow UK Walker, K.W. (1992) Human Resource Strategy, McGraw-Hill, New York USA. Wright, T.A. Cropanzano, R. (2004) The Role of Psychological Well-Being in Job Performance: a Fresh Look at an Age-Old Quest, Organizational Dynamics, Vol.33 Issue 4. Wright, T.A. Hobfoll, S.E. (2004) Commitment, Psychological Well-Being, and Job Performance: An Examination of Conservation of Resources Theory and Job Burnout, Journal of Business and Management, Winter Vol.9 Issue 4.

The Hot Zone by Richard Preston :: Book Report The Hot Zone

The Hot Zone by Richard Preston   Ã‚  Ã‚  Ã‚  Ã‚  In October of l989, Macaque monkeys, housed at the Reston Primate Quarantine Unit in Reston, Virginia, began dying from a mysterious disease at an alarming rate. The monkeys, imported from the Philippines, were to be sold as laboratory animals. Twenty-nine of a shipment of one hundred died within a month. Dan Dalgard, the veterinarian who cared for the monkeys, feared they were dying from Simian Hemorrhagic Fever, a disease lethal to monkeys but harmless to humans. Dr. Dalgard decided to enlist the aid of the United States Army Medical Research Institute of Infectious Diseases (USAMRIID) to help diagnose the case. On November 28th, Dr. Peter Jahlring of the Institute was in his lab testing a virus culture from the monkeys. Much to his horror, the blood tested positive for the deadly Ebola Zaire virus. Ebola Zaire is the most lethal of all strains of Ebola. It is so lethal that nine out of ten of its victims die. Later, the geniuses at USAMRIID found out that it wasn't Zaire, ! but a new strain of Ebola, which they named Ebola Reston. This was added to the list of strains: Ebola Zaire, Ebola Sudan, and now, Reston. These are all level-four hot viruses. That means there are no vaccines and there are no cures for these killers.   Ã‚  Ã‚  Ã‚  Ã‚  In 1976 Ebola climbed out of its primordial hiding place in the jungles of Africa, and in two outbreaks in Zaire and Sudan wiped out six hundred people. But the virus had never been seen outside of Africa and the consequences of having the virus in a busy suburb of Washington DC is too terrifying to contemplate. Theoretically, an airborne strain of Ebola could emerge and circle the world in about six weeks. Ebola virus victims usually "crash and bleed," a military term which literally means the virus attacks every organ of the body and transforms every part of the body into a digested slime of virus particles. A big point that Preston wanted to get across was the fact that the public thinks that the HIV virus is quite possibly the most horrible virus on Earth, when no one takes into mind the effects and death of the victims of Ebola. Preston shows how Ebola and Marburg (a close relative of Ebola) is one hundred times more contagious, one hundred times as lethal, and one hundr! ed times as fast as HIV. "Ebola does in ten days what it takes HIV ten years to accomplish," wrote Richard Preston. The virus, though, has a hard time spreading, because the

Introducing New Coke

In this case of Coca-Cola changing their well established Coke formula and introducing an new one in 1985 for the purpose of gaining more market share; the reason why such decision was made by Coke’s executives was mainly because of a series of marketing campaign conducted by their major arrival – Pepsi. During mid 1970s, Pepsi has ran a the famous â€Å"Pepsi Challenge† of blind taste tests on all the commercials to show that the majority preferred Pepsi than Coke based on its teste. By 1977, Pepsi had exceeded Coke’s market share in major restaurant chains and food stores.Under the threat of being taken over by Pepsi and losing the industrial leader position, Coke released their new formulated coke on April 23th, 1985. While the Coke’s new formula was preferred in the blind taste tests, consumers especially loyal consumers across the country had a strong and negative reaction to the fact that Coke was going to replace the original formula with thi s new. In the end, Coke had to reintroduce the original Coke under the name Coke Classic, and the new coke quickly faded away. And the once leading Pepsi during Coke’s transactional period, fell back to the second market place again.In my opinion what Coca-Cola got it wrong was that they focused too much on the taste of the Coke and neglected the emotional attachment that consumers had to the original flavour. Coca-Cola could have simply changed the direction of its campaigns by giving Coke a brand new image to attract the â€Å"new generation† if they felt they were losing market share to Pepsi in that specific consumer group because image is probably more important than taste in selling soft drink based on Pepsi’s success of their â€Å"New Generation† campaign . But if Coke was determined to change the recipe, it could probably have done it without letting anyone know.Alternatively, the new Coke could have been introduced without knocking out the origi nal Coke off the shelves. Simply adding an new flavour to the Coke family and giving consumers one more option to choose from could have resulted a better outcome, for example, Coca-Cola’s launch of Vanilla Coke. But the company considered, and rejected, planed to keep the old-formula drink in circulation under the name â€Å"original† Coke. The taste question was crucial to Coke. But what Coca-Cola executives failed to realize was that there is more to marketing soft drinks than winning taste tests.More than any other product consumers had an emotional attachment to their soft drink brand. I believe from Americans’ point of view, Coke discovered fiddling with the formula of the 99-year-old beverage was probably an assault to their patriotic pride. Here I can quote a saying from Coca-Cola’s President Donald R. Keough to summarize what Coca-Cola has learned: â€Å"We did not understand the deep emotions of so many of our customers for Coca-Cola. † I think any marketer who plans a noticeable revision of a product must consider the loyalty of its consumers and the possibility that the change will be rejected.To prevent this possibility, marketers should realize that balking at change is a customer characteristic of specific product preferences. Also, in this case, a more sophisticated qualitative and quantitative research could have been conducted and prevented Coke from this mistake. Consumers resist changes for many reasons – brand choice results from a complex set of beliefs, buyers associate products with themselves, buyers do not fit into clear segments. I think the key to all the marketers is to realize the involvement of what a product actually does for the user, and what emotional attachment that links the user to the brand.

Supply Network Design

Supply Network Design The Supply Network Perspective: A supply network perspective means setting an operation in the context of all the operations with which it interacts, some of which are its suppliers and its customers. Materials, parts, other information, ideas and sometimes people all flow through the network of customer-supplier relationships formed by all these operations. On its supply side an operation has its suppliers of parts, or information, or services. These suppliers themselves : have their own suppliers who in turn could also have suppliers, and so on.On the demand side the operation has customers. These customers might not be the final consumers of the operation's products or services; they might have their own set of customers. †¢On the supply side is a group of operations that directly supply the operation; these are often called first-tier suppliers. They are supplied by second-tier suppliers. However, some second-tier suppliers may also supply an operation directly, thus missing out a link in the network. Similarly, on the demand side of the network, ‘first-tier' customers are the main customer group for the operation.These in turn supply ‘second-tier' customers, although again the operation may at times supply second-tier customers directly. The suppliers and customers who have direct contact with an operation are called its immediate supply network, whereas all the operations which form the network of suppliers' suppliers and customers‘ customers, etc. , are called the total supply network. Homeware manufacturer supplies some of its basic products to wholesalers which supply retail outlets. However, it also supplies some retailers directly with ‘made-to-order' products.Along with the flow of goods in the network from suppliers to customers, each link in the network will feed back orders and information to its suppliers. When stocks run low, the retailers will place orders with the wholesaler or directly with the manufacturer. The wholesaler will likewise place orders with the manufacturer, which will in turn place orders with its suppliers, which will replenish their own stocks from their suppliers. It is a two-way process with goods flowing one way and information flowing the other. It is not only manufacturers that are part of a supply network.The second (service) operation, an operation which manages an enclosed shopping mall, also has suppliers and customers that themselves have their own suppliers and customers. Figure 6. 2 shows the supply network for an operation which manages an enclosed shopping mall. Why consider the whole supply network? †¢There are three important reasons for taking a supply network perspective: †¢It helps an understanding of competitiveness. Immediate customers and immediate suppliers, quite understandably, are the main concern to competitively minded companies.Yet sometimes they need to look beyond these immediate contacts to understand why custo mers and suppliers act as they do. Any operation has only two options if it wants to understand its ultimate customers' needs at the end of the network. It can rely on all the intermediate customers and customers' customers, etc. , which form the links in the network between the company and its end-customers. Alternatively, it can look beyond its immediate customer and suppliers. Relying on one's immediate network is seen as putting too much faith in someone else's judgment of things which are central to an organization's own competitive health. It helps identify significant links in the network. The key to understanding supply networks lies in identifying the parts of the network which contribute to those performance objectives valued by end-customers. Any analysis of networks must start, therefore, by understanding the downstream end of the network. After this, the upstream parts of the network which contribute most to end-customer service will need to be identified. But they will not be equally significant. For example, the important end-customers for domestic plumbing parts and appliances are the installers and service companies that deal directly with domestic consumers.They are supplied by ‘stock holders' which must have all parts in stock and deliver them fast. Suppliers of parts to the stock holders can best contribute to their end-customers' competitiveness partly by offering a short delivery lead time but mainly through dependable delivery. The key players in this example are the stock holders. The best way of winning end-customer business in this case is to give the stock holder prompt delivery which helps keep costs down while providing high availability of parts. †¢It helps focus on long-term issues. There are times when circumstances render parts of a supply network weaker than its adjacent links.A major machine breakdown, for example, or a labour dispute might disrupt a whole network. Should its immediate customers and suppliers explo it the weakness to enhance their own competitive position, or should they tolerate the problems, and hope the customer or supplier will eventually recover? A long-term supply-network view would be to weigh the relative advantages to be gained from assisting or replacing the weak link. Design decisions in supply networks †¢The supply-network view is useful because it prompts three particularly important design decisions.These are the most strategic of all the design decisions treated in this part of the book. It is necessary to understand them at this point, however, because, as well as having a particularly significant impact on the strategy of the organization, they set the context in which all other process design decisions are made. The three decisions are: †¢1- How should the network be configured? This means, first, how can an operation influence the shape which the network might take? Second, how much of the network should the operation own? This may be called the ou tsourcing, vertical integration or do-or-buy decision. 2- Where should each part of the network be located? If the home ware company builds a new factory, should it be close to its suppliers or close to its customers, or somewhere in between? This decision is called the operations location decision. †¢3-What physical capacity should each part of the network have? How large should the home war factory be? Should it expand in large-capacity steps or small ones? These types of decisions are called long-term capacity management decisions. †¢Note that all three of these decisions rely on assumptions regarding the level of future demand. The supplement to this chapter explores forecasting in more detailDeciding whether to outsource †¢Although the effect of outsourcing on the operation's performance objective is important, there are other factors that companies take into account when deciding if outsourcing an activity is a sensible option. For example, if an activity has lo ng-term strategic importance to a company, it is unlikely to outsource it. For example, a retailer might choose to keep the design and development of its web site in-house even though specialists could perform the activity at less cost because it plans to move into web-based retailing at some point in the future.Nor would a company usually outsource an activity where it had specialized skills or knowledge. For example, a company making laser printers may have built up specialized knowledge in the production of sophisticated laser drives. †¢This capability may allow it to introduce product or process innovations in the future. It would be foolish to ‘give away' such capability. After these two more strategic factors have been considered the company's operations performance can be taken into account.Obviously if its operations performance is already too superior to any potential supplier, it would be unlikely to outsource the activity. But also even if its performance was c urrently below that of potential suppliers, it may not outsource the activity if it feels that it could significantly improve its performance. Figure 6. 3 illustrates this decision logic. Outsourcing and offshoring †¢Two supply network strategies that are often confused are those of outsourcing and off-shoring Outsourcing means deciding to buy-in products or services rather than perform the activities in-house.Off-shoring means obtaining products and services from operations that are based outside one's own country. Of course, one may both outsource and offshore as illustrated in Figure 6. 4. Offshoring is very closely related to outsourcing and the motives for each may be similar. Offshoring to a lower-cost region of the world is usually done to reduce an operation’s overall costs as is outsourcing to a supplier that has greater expertise or scale or both. Critical commentary †¢In many Instances there has been fierce opposition to companies outsourcing some off the ir processes.Trade unions often point out that the only reason that outsourcing companies can do the job at lower cost is that they either reduce salaries or reduce working conditions, or both. Furthermore, they say, flexibility is only achieved by reducing job security. Employees who were once part of a large and secure corporation could find themselves as far less secure employees of a less benevolent employer with a philosophy of permanent cost-cutting. Even some proponents of outsourcing are quick to point out the problems.There can be significant obstacles, including understandable resistance from staff who find themselves ‘outsourced'. Some companies have also been guilty of ‘outsourcing a Problem' . In other words, having failed to manage a process well themselves, they ship it out rather than face up to why the process was problematic in the first place. There is also evidence that, although long-term costs can be brought down when a process is outsourced, there may be an initial period when costs rise as both sides learn how to manage the new arrangement. The Location of capacity It was reputedly Lord Sieff, one-time boss of Marks and Spencer, the UK-based retail organization, who said, ‘There are three important things in retailing – location, location and location', and any retailing operation knows exactly what he meant. Get the location wrong and it can have a significant impact on profits, or service. For example, misallocating a fire service station can slow down the average journey time of the fire crews in getting to the fires; †¢locating a factory where there is difficulty attracting labour with appropriate skills will affect the effectiveness of the factory's operations.Location decisions will usually have an effect on an operation's costs as well as its ability to serve its customers (and therefore its revenues). Also, location decisions, once taken, are difficult to undo. The costs of moving an operation can b e hugely expensive and the risks of inconveniencing customers very high. No operation wants to move very often. †¢Reasons for location decisions Not all operations can logically justify their location. Some are where they are for historical reasons. Yet even the operations that are ‘there because they're there' are implicitly making a decision not to move.Presumably their assumption is that the cost and disruption involved in changing location would outweigh any potential benefits of a new location. Two stimuli often cause organizations to change locations: changes in demand for their goods and services, and changes in supply of their inputs. Changes in demand A change in location may be prompted by customer demand shifting. For example, as garment manufacture moved to Asia, suppliers of zips, threads, etc. started to follow them. Changes in the volume of demand can also prompt relocation.To meet higher demand, an operation could expand its existing site, or choose a larg er site in another location, or keep its existing location and find a second location for an additional operation; the last two options will involve a location decision. High-visibility operations may not have the choice of expanding on the same site to meet rising demand. A dry cleaning service may attract only marginally more business by expanding an existing site because it offers a local, and therefore convenient, service. Finding a new location for an additional operation is probably its only option for expansion.Changes in supply. The other stimulus for relocation is changes in the cost, or availability, of the supply of inputs to the operation. For example, a mining or oil company will need to relocate as the minerals it is extracting become depleted. A manufacturing company might choose to relocate its operations to a part of the world where labour costs are low, because the equivalent resources (people) in its original location have become relatively expensive. Sometimes a business might choose to relocate to release funds if the value of the land it occupies is worth more than an alternative, equally good, location.The objectives of the location decision †¢The aim of the location decision is to achieve an appropriate balance between three related objectives: †¢The Spatially variable costs the operation (spatially variable means that something changes with geographical location); †¢the service the operation is able to provide to its customers; †¢the revenue potential of the operation. †¢In for-profit organizations the last two objectives are related. The assumption is that the better the service the operation can provide to its customers, the better will be its potential to attract custom and therefore generate revenue.In not-for-profit organizations, revenue potential might not be a relevant objective and so cost and customer service are often taken as the twin objectives of location. In making decisions about where to locate an operation, operations managers are concerned with minimizing spatially variable costs and maximizing revenue and customer service. Location affects both of these but not equally for all types of operation. For example, with most products, customers may not care very much where they were made. Location is unlikely to affect the operation's revenues significantly.However the costs of the operation will probably be very greatly affected by location. Services, on the other hand, often have both costs and revenues affected by location. The location decision for any operation is determined by the relative strength of supply-side and demand-side factors (see Fig. 6. 5). Location techniques Although operations managers must exercise considerable judgement in the choice of alterative locations, there are some systematic and quantitative techniques which can help the decision process.We describe two here – the weighted-score method and the centre-of-gravity method. †¢Weighted- score method The procedure involves, first of dl, identifying the criteria which will be used to evaluate the various locations. Second, it involves establishing the relative importance of each criterion and giving weighting factors to them. Third, it means raring each location according to each criterion. The scale of the score is arbitrary. In our example we shall use 0 to 100, where 0 represents the worst possible score and 100 the best. Worked example An Irish company which prints and makes specialist packaging materials for the pharmaceutical industry has decided to build a new factory somewhere in the Benelux countries so as to provide a speedy service for its customers in continental Europe. In order to choose a site it has decided to evaluate all options against a number of criteria, as follows: †¢the cost of the site; †¢the rate of local property taxation; †¢the availability of suitable skills in the local labour force; †¢the site's access to the motorwa y network; †¢the site's access to the airport; the potential of the site for future expansion. After consultation with its property agents the company identifies three sites which seem to be broadly acceptable. These are known as sites A, B and C. The company also investigates each site and draws up the weighted-score table shown in Table 6. 2. It is important to remember that the scores shown in Table 6. 2 are those which the manager has given as an indication of how each site meets the company's needs specifically. Nothing is necessarily being implied regarding any intrinsic worth of the locations. Likewise, the weightings are an indication of how important the company finds each criterion in the circumstances it finds itself. The ‘value' of a site for each criterion is then calculated by multiplying. its score by the weightings for each criterion. †¢ †¢For location A, its score for the ‘cost-of-site' criterion is 80 and the weighting of this criterion i s 4, so its value is †¢80 X 4 = 320. All these values are then summed for each site to obtain its total weighted score. †¢ †¢Table 6. 2 indicates that location C has the highest total weighted score and therefore would be the preferred choice.It is interesting to note, however, that location C has the lowest score on what is, by the company's own choice, the most important criterion – cost of the site. The high total weighted score which location C achieves in other criteria, however, outweighs this deficiency. If, on examination of this table, a company cannot accept what appears to be an inconsistency, then either the weights which have been given to each criterion, or the scores that have been allocated, do not truly 1 reflect the company's preference. ?

Eco-tourism Essay Essays

Eco-tourism Essay Essays Eco-tourism Essay Essay Eco-tourism Essay Essay Essay Topic: The Beast in the Jungle Ecotourism is defined as responsible travel to natural countries that protect the environment and better the public assistance of local people ( International Ecotourism Society ( TIES ) . 2005 ) . It besides follow certain rules such as minimize impact. construct environmental and cultural regard. supply fiscal benefits to local people. Global ecotourism began in 1990. and has been turning 20-34 % per twelvemonth. particularly in 2004. ecotourism was turning globally 3 times faster than the touristry industry as a whole ; with uninterrupted growing. and ecotourism will busy 25 % of the universe travel market within six old ages. Ecotourism has advantages and disadvantages. It can lend to a country’s economic development and besides profit local people. For the hapless states. touristry is the 2nd most of import beginning of foreign exchange. after oil. It besides can convey occupation chances and increase local people’s income. However. the disa dvantage can non be neglected. Ecotourism can bring forth pollution and damage the environment. Harmonizing to TIES ( 2005 ) . there are 109 states with coral reefs. 90 of them are being damaged by sail ship and sewerage. It besides estimated that the sail ship produce more than 70. 000 dozenss of waste each twelvemonth. The daze to local civilization is besides a large job. Recently. the advantages of ecotourism are still being debated. This study is concerned with the advantages and disadvantages of ecotourism. Though the disadvantages of ecotourism caused large jobs but advantages of ecotourism far outweigh its drawbacks. 1. Definition of ecotourism. Ecotourism involves responsible going to fragile. pristine and largely protected countries. This takes topographic point for different intents. from educating the traveller. furthering regard for different civilizations to straight profiting the economic and political authorization of local communities. Ideally. ecotourism incorporates the undermentioned standards ; advance biological and cultural diverseness. touring good natural home grounds. and the chief attractive forces being local civilization. vegetations and zoologies. In short. ecotourism operations are defined by their committedness to the environment. instruction. nature and civilization. The chief aims of ecotourism are supplying nature-based. environmental instruction experiences for visitants and pull offing this in a sustainable mode. Ecotourism offers a great chance for educational every bit good as personal growing as values of grasp and attitude alterations are instilled in participants which would take to importan t engagement in environmental and societal issues in the hereafter. Basically. the dimension of ecotourism as an educational experience creates a new window for sing the whole universe and one’s ego. It offers an chance to demo the growing and development of assorted larning experiences while at the same clip researching another state or civilization and traveling beyond one’s preconceived restrictions. Nature based touristry includes a scope of touristry experiences that entail adventure touristry. cultural and rural touristry. In add-on. activities such as rafting and aqualung diving are signifiers of nature based ecotourism. On the other manus. sustainable ecotourism aims to turn to on the demands of visited environments to prolong them. The chief focal points include prolonging the natural environment itself and lending to assist local communities understand the importance and value of their next environment. Sustainability is drawn from the construct of sustainable development which is development that focuses on run intoing the demands of he present coevals without impeding the ability of the future coevalss from run intoing their ain demands. The basic standards for sustainable ecotourism include ; the sustainable usage of ecological resources. increased environmental and cultural consciousness. preservation ethos. support of local economic systems through increased gross fro m visitants and the usage of local supplies and services. It is of import to observe that for ecotourism to be realized the above constituents need to be integrated on a wholesome bundle. Eco touristry entails the incorporation of nature as the chief research lab for informal acquisition through which attitudes and values on preservation are appreciated and instilled. For these natural resources to be available for the unforeseeable hereafter. sustainability has to come into drama. Several differences between ecotourism and other signifiers of touristry can be outlined. To get down with. the cardinal difference bing is that ecotourism involves larning about the environment whereas other signifiers of touristry such as escapade touristry merely focal point on personal achievements of successfully run intoing the challenge of the natural environment. By and large. the touristry industry focuses on market demand by trying to further. maintain and spread out the market universe which largely draws it off from concentrating on keeping the merchandise or experience. The add-on of installations and substructures to provide for the demand consequence in the devastation of pri stine environment and the autochthonal experience which ecotourism efforts to change by reversal by cut downing these impacts of touristry. Ecotourism maintains a supply oriented direction position with primary considerations being the nature and resiliency of the resource. cultural or local community penchants and interpretative preservation plans. Tourism on the other manus. focal points on single experiences that may overlook the relevancy of in-depth acquisition of the natural environment and autochthonal cognition indispensable for altering people’s attitudes and perceptual experiences. Nature based touristry is seen as a subcomponent of alternate touristry and ecotourism is highlighted as being portion of both alternate and natural based touristry. This is because nature plays a large function in both. In add-on. the interaction between natural environment and escapade travel are constituents of adventure touristry. This points to gamble travel with certain hazardous elements which when lowered go logical extensions of ecotourism. Time. a really cardinal trade good would besides be used to distinguish other signifiers of touristry from eco touristry. The clip taken to interact with nature and local communities in ecotourism is significant due to the clip taken to appreciate what the environment provides. Fundss accr uing from touristry activities are non perfectly used to better the supports of local populations. they may non dribble down to these communities when allocated on a national graduated table. Alternatively they form a per centum of the Gross Domestic Product of most economic systems. On the other manus. financess collected from ecotourism establishments are diverted to activities aimed at bettering the lives of local communities. This is because these populations play a critical function in guaranting the sustainability of the environment through proper direction and protection to control overuse. The subsequent impact of human activities on the environment is yet another difference between ecotourism and other signifiers of touristry. The fact that ecotourism addresses the values and perceptual experiences of persons which impact to a greater extent the grasp of the environment thereby cut downing the magnitudes of development of these resources is a premier definition of ecotourism different from touristry in general. Behaviors such as the proper disposal of waste in campgrounds or tourer environments are emphasized in ecotourism as compared to other signifiers of touristry which overlook the importance of such actions. Ecotourism emphasizes on interaction base d on the propinquity to the natural home ground. for illustration. watching mahimahis in their natural home ground. the ocean. while mainstream touristry does non stress on the natural environment such as watching mahimahis in an fish tank. The degrees of interactions described by Fridell ( 2003 ) are different in the two constructs. Ecotourism based activities involve a close interaction with the environment with actions such as species individuality and autochthonal cognition on certain phenomena. The degree of interaction related with touristry on the other manus is perceived to be shallow as small is learnt from the environment. In some countries. jaunts are conducted utilizing vehicles doing it hard for tourers to interact closely with the environment. Despite the aforesaid differences. similarities besides exist between ecotourism and other signifiers of touristry like sustainable touristry. adventure touristry amongst others. First of all. both recognize the environment as the chief functional unit. Activities developed from both are environmentally related as it forms the chief characteristic. Scuba plunging. nature sing. take parting in eco-challenge activities are merely but a few of the activities environmentally based. Second. as expressed by Anderson A ; Beasley. the human being is the chief driver of both constructs. These constructs are developed and actualized by worlds who besides contribute to their uninterrupted application. This is due to the fact that the h uman individual recognizes the next environment about him as it is of import for his endurance. The environment is the manufacturer of goods and services for human ingestion. and every bit acts as an learner of waste produced from human activities that process concluding merchandises for his usage. Without it. worlds can non last hence the kernel to conserve and protect it. The terminal consequence of both constructs is to make avenues of exposure to chances of the environment and its subsequent preservation. The environment offers more than merely resources. It creates an aesthetic feeling every bit good as favourable ambiances for relaxation both mentally and physically. Such chances are made available through ecotourism and touristry. Both venture in to pristine environments that are either protected by authorities policies or local populations. Pristine environments are less exploited or non ventured into at all and offer a great assortment of species and ecosystems. Both touristry and ecotourism purpose towards sustainable development. There is normally a struggle between development and environmental preservation with both extremes conveying about insufficiencies in version owing to the current planetary state of affairss of negative environmental impacts and effects of the planetary small town. Ecotourism hence efforts to run into the demands of the local people while touristry focuses on a much bigger population seting the country’s citizens in position. An eco- circuit refers to a sightseeing jaunt in physical nature. An ecotourist so refers to a tourer who joins an ecotour. With the above definition. it is deserving observing that eco-tourists may neglect to understand the difference between ecotourism and mainstream touristry. This occurs in fortunes where they fail to understand the functions expected of them to separate them from other tourers. In add-on. the sites chosen for jaunt intents may find them as tourers. An eco-tourist who accesses a tourer site such as an fish tank or mausoleum located off from its original site would neglect to understand the difference between him and a tourer. In instances where tourers are given an chance to larn from the available environment with the aid of tour ushers or game Texas Rangers. they are awarded the same chance of geting cognition merely as those seeking such cognition from ecotourism countries availed to them by local community members hence the difference between them is narrowed. A instance survey on the educational experience in ecotourism in Peru. The Condor Lodge Conservatory is good discussed below. The conservatory is located in Apurimac Canyon and is settled in a natural environment. with close propinquity to the Antilla Community and surrounded by an eco-farm. Most households portion kiping infinite with the Kuyi. a type of guinea hogs. The country is besides surrounded by gold mines and has been at the head of ecotourism attempts in the part. It has besides created threading webs with local tourer bureaus. international tourers and be aftering little group visits that are aimed at making a harmonious relationship with the environment. It is farther characterized by undisturbed wilderness. wildlife diverseness. hospitable people and a dramatic position of the Andean Condor which create an exceeding educational experience. A instance survey of the Campi ya Kanzi. an ecotourism site in Kenya. This site is stretched over 400 stat mis of African wilderness. within the Kuku Group Ranch of Southern Kenya. The country is owned by Maasai herders and extends through to Mt. Kilimanjaro . This environment is good endowed with wildlife diverseness of zoology and vegetation. The spread besides contains pools. a lake and springs. The Lodge in the country has minimum impact on the environment as edifices are constructed from local stuff such as lava stones. thatch and timber obtained from a re-afforestation plan. The foundations of the Lodge was based on protecting wildlife. the wilderness and Maasai civilization every bit good as obtain fiscal support for keeping a topographic point where wildlife can boom. To sum up. Campi ya Kanzi is an ecotourism Lodge. built. owned and run by the local community for the benefit of the environment and local people. In decision. Ecotourism is an facet that incorporates touristry but is specific in nature. There are illimitable similarities that exist between ecotourism and touristry such as sustainability. nature being at the head in both and an offer to interact with the pristine natural environment. There are besides important differences that exist between them from the educational position. the natural environment to the degrees of interactions. However. the impact of both touristry and ecotourism on the environment every bit good the alterations in people’s attitudes is deserving observing. The functional duty of both eco-tourists. soft and dif ficult. and tourer dramas a cardinal function in accomplishing the ultimate ends of both constructs. 3. The Advantages of Eco-tourism Eco touristry is defined as touristry that sends people to comparatively untasted parts of the universe and that is sensitive to the impact to nature caused by worlds. Eco touristry is an effort to let touristry that does non damage nature or traditional civilization. It is an thought that has monolithic entreaty as those with money can now see topographic points in good scruples. They can see fantastic things and experience at the same clip that their money is assisting the local environment and autochthonal people. Since the 1980s the eco touristry sector has grown and grown. It is the fastest turning sector in touristry – turning at an one-year rate of between 10 % – 15 % . Tourism is one of the few sectors of the universe economic system that continues to turn despite the ups and downs in the universe economic system. It has become so of import that the IMF now includes judicial admissions approximately touristry as portion of its stipulations for imparting money to developing states. If done justly eco touristry has several advantages. It is more concerned with the environment and does promote developers to construct with more consideration for the natural environment. This means that more natural home ground is preserved and that the resources for constructing come from sustainable beginnings. This is the theory anyhow. Another advantage is that eco touristry provides an income for local dwellers in an country. The statement is that if the local people can bring forth gross from demoing tourers around a jungle. lake. savannah etc. so it is much better than killing elephants for their tusk or capturing gorillas to sell on the black market. Furthermore. demoing people a rain forest instead than logging the wood is a good via media if the wood is preserved. Peoples in the developed universe through eco touristry acquire to see topographic points of great natural significance every bit good as interact with local and autochthonal people. It is hoped that this contact will profit both parties. furthering better apprehe nsion of the issues on the land. and get the better ofing bias. 3. The Disadvantages of Eco-tourism It is felt by some conservationists that there should be some parts of the universe that are ‘off bounds’ for any tourers as any human activity will damage the eco system and interrupt the modus operandi of the animate beings. Although aqualung frogmans try to be careful. any tourist aqualung concern is traveling to hold a negative impact on delicate coral Marine environments. Although. people walking carefully through the wood might non make much injury. constructing their eco lodges does. A good illustration of this is the campaign concern in Africa. Tour landrover traveling across the Savannah panic off the animate beings that the king of beastss rely on catching. The consequence is that king of beastss can no longer run in parts of Kenya and Tanzania during the forenoon when the circuit landrovers are out. They have to wait until the hottest portion of the twenty-four hours to run. This is run outing for them and impacting king of beasts Numberss. The Masai people in Kenya have been moved out of their traditional lands because of the limit of National Parks for eco touristry. They are settled on land next to the militias. Much of the best land next to the militias has gone to non-local people and eco tourer operators. When animate beings come on to this communal land any harm caused by the animate beings is non compensated by the authorities. The consequence is that the Masai who one time co-existed with the animate beings of the Savannah now come to see them as plagues. Another issue for the Masai and other autochthonal people is that they have become ‘tourist attractions’ that are expected to present for the cameras and execute dances etc. for money. Not merely is this highly sponsoring. but it is detering the Masai and other autochthonal people from prosecuting their traditional life manners. Unwittingly the tourers are destructing the civilization that they are paying to continue. Eco-tourism seeks to travel t o the remotest topographic points. These topographic points are frequently non good policed. There is nil halting people taking money from tourers every bit good as prosecuting environmentally unfriendly activities. In the instance of Brazil. illegal logging will non halt because of eco-tourism because the logging companies make excessively much money. It seems that the cons frequently outweigh the pros of eco touristry. It might be better to take images of animate beings instead than shoot animate beings. but given the pick the animate beings would earlier non hold people around. Patroling of eco touristry is another affair. Make eco tourist outfits present what they promise? It seems whether eco touristry should be allowed should be judged case-by-case. and that the audience must include the local people. and non the IMF. Decision It sounds like the true nature lover’s dream – to see a corner of the Earth that is untouched by human custodies. It’s where you can bask pristine nature in its true. original signifier. Ecotourism is a name given to the touristry industry that desires to see pristine. fragile and undisturbed countries. This is every bit far different from mass touristry as you can acquire. Promoting ecotourism brings several possible benefits to the country being visited: Helps to supply investing financess for the saving and preservation of the ecological system. It can be a direct benefit to the development of the economic system and political systems of the environing community. Builds a sense of regard for a assortment of civilizations and for their human rights motions. Serves to educate the traveller who participates in ecotourism. It can give tourers some penetration into the impact that worlds have on the environment. and as a consequence they can develop a greater love and grasp for the beauty of the Earth and its natural home grounds. Ecotourism takes topographic point in environments where the vegetation and zoologies are still integral in their natural. original signifiers. Tourism is a quickly turning industry. and for some states. including developing states. ecotourism is a feasible income beginning. States such as Africa with huge. unfastened district. immense fields and ferocious roving rivers. are popular ecotourism finishs. Canada. being one of the world’s largest states is besides place to colonies of autochthonal peoples and holds a immense potency for ecotourism. There are many untasted beautiful ecotourism finishs in Canada. With its huge landscapes and low population denseness. abundant natural resources and a assortment of eco-activities. Canada is turning in popularity among ecotourists. Benefits for developing states to take part in ecotourism For developing states. ecotourism offers empowerment to local communities and a manner for them to contend poorness. The combination between biodiversity and autochthonal civilizations is appealing to many who want to acquire out of the large metropoliss and travel see something in nature that they have neer experienced before. During an ecotourism escapade. low impact on nature is emphasized. After all. if the ecotourism had a large impact on the pristine location. it would no longer be untasted and lose its utility as a finish. Tourism itself leaves an environmental footmark. A major portion of the instruction of tourers sing premier natural home grounds is to educate them towards environmental preservation. Therefore. mass touristry to these natural home gro unds is non permitted. History of responsible touristry and advancing sustainability utilizing touristry The term ecotourism was made popular in 1983 by a adult male named Hector Ceballos-Lascurain. Other equivalent word to the term include jungle touristry. responsible touristry and sustainable development. Hector was a environmentalist who was really influential and took portion in buttonholing for wetland preservation in relation to the flamingo. Presently there is no criterion accepted globally for modulating the ecotourism industry. Many see this as a disadvantage. because little groups claiming a large eco escapade have the possible to victimize the unwary tourer from some large payments. They sign up believing they are acquiring the escapade of a life clip but because of the deficiency of accreditation and ordinances ; they don’t end up acquiring what they signed up for. Beginnings 1. hypertext transfer protocol: //wikitravel. org/en/Ecotourism 2. hypertext transfer protocol: //www. ecotourism. org/what-is-ecotourism 3. hypertext transfer protocol: //www. ukessays. com/essays/tourism/an-essay-on-ecotourism. php 4. hypertext transfer protocol: //essaycamp. com/examples/ecotourism 5. hypertext transfer protocol: //www. worldtourismforum. org/global/pros-and-cons-of-eco-tourism/

Immagration and pollution essays

Immagration and pollution essays The Effects of Population Growths on the Environment With world population skyrocketing, where is man-kind headed? The current world population is over six billion with the United States population alone numbering over 264 million. Studies on population growths project that by the year 2050 A.D., the U.S. will need to find room for more than 520 million people, almost doubling the current population. How will the environment and the human race itself be affected by this (Jackson 27)? First, we as inhabitants, need to know what we are doing to this place we call home, Earth. The consequences to the United States wild lands and all their resources would be overwhelming if the population saw those kinds of staggering numbers. A striking illustration is the national park system: since 1940, the U.S. population has doubled, but park visitation has increased sixteen times. A population increase that measured only half as great as the last fifty years would devastate these areas, diminishing the quality of visitors experience and reducing resources to unsustainable levels (Jackson 30). Recently it was found that MTBE (a gasoline additive that makes engines cleaner-burning, but may also cause cancer in humans) could be leaking into as many as 9,000 community water wells in 31 states from underground storage tanks. This chemical was first added to gas over 20 years ago to enhance octane and later in much larger amounts to help cut down on air pollution. Lately though, the foul-tasting and smelling oxygenate has been found in ground water all over the United States. John Zogorski, a scientist at the U.S. Geological Survey said, Very large amounts of MTBE have been used in gasoline during the past 20 years and perhaps 250,000 gallons leaking from underground storage tanks have contained MTBE (Times 1). The drinking water isnt all man has to worry about; what about the water that falls from the sky in...

Understanding the Philosophy of Culture

Understanding the Philosophy of Culture The ability to transmit information across generations and peers by means other than genetic exchange is a key trait of the human species; even more specific to humans seems the capacity to use symbolic systems to communicate. In the anthropological use of the term, culture refers to all the practices of information exchange that are not genetic or epigenetic. This includes all behavioral and symbolic systems. The Invention of Culture Although the term culture has been around at least since the early Christian era (we know, for instance, that Cicero used it), its anthropological use was established between the end of eighteen-hundreds and the beginning of the past century. Before this time, culture typically referred to the educational process through which an individual had undergone; in other words, for centuries culture was associated with a philosophy of education. We can hence say that culture, as we mostly employ the term nowadays, is a recent invention. Culture and Relativism Within contemporary theorizing, the anthropological conception of culture has been one of the most fertile terrains for cultural relativism. While some societies have clear-cut gender and racial divisions, for instance, others do not seem to exhibit a similar metaphysics. Cultural relativists hold that no culture has a truer worldview than any other; they are simply different views. Such an attitude has been at the center of some of the most memorable debates over the past decades, entrenched with socio-political consequences. Multiculturalism The idea of culture, most notably in connection with the phenomenon of globalization, has given rise to the concept of multiculturalism. In one way or other, a large part of the contemporary world population lives in more than one culture, be it because of the exchange of culinary techniques, or musical knowledge, or fashion ideas, and so on. How to Study a Culture? One of the most intriguing philosophical aspects of culture is the methodology by means of which its specimens have been and are studied. It seems, in fact, that in order to study a culture one has to remove herself from it, which in some sense it means that the only way to study a culture is by not sharing it.The study of culture poses thus one of the hardest questions with respect to human nature: to what extent can you really understand yourself? To what extent can a society assess its own practices? If the capacity of self-analysis of an individual or a group is limited, who is entitled to a better analysis and why? Is there a point of view, which is best suited for the study of an individual or a society?It is no accident, one could argue, that cultural anthropology developed at a similar time at which psychology and sociology also flourished. All three disciplines, however, seem to potentially suffer from a similar defect: a weak theoretical foundation concerning their respecti ve relationship with the object of study. If in psychology it seems always legitimate to ask on which grounds a professional has a better insight into a patient’s life than the patient herself, in cultural anthropology one could ask on what grounds the anthropologists can better understand the dynamics of a society than the members of the society themselves.How to study a culture? This is still an open question. To date, there certainly are several instances of research that try and address the questions raised above by means of sophisticated methodologies. And yet the foundation seems to be still in need of being addressed, or re-addressed, from a philosophical point of view. Further Online Readings The entry on cultural evolution at the Stanford Encyclopedia of Philosophy.The entry on multiculturalism at the Stanford Encyclopedia of Philosophy.The entry on culture and cognitive science at the Stanford Encyclopedia of Philosophy.

GANGS AND GANG SUBCULTURES CJM 330 Essay Example | Topics and Well Written Essays - 5250 words

GANGS AND GANG SUBCULTURES CJM 330 - Essay Example Among the various areas of the US, the region of Los Angeles is deemed to be crowded with considerable number of ganging activities. Contextually, in the present day scenario, there are various gangs operating in the city, out of which, the street gangs are seen to be quite notorious and dangerous (Howell, 2011). Among the major gangs active in Los Angeles today, the Mexican Mafia is regarded as one of the most dangerous gangs. The gang is one of the oldest in the US and work in parallel with other traditional gangs of the country. The gang is quite organized and operates following specific rules made by them. Its major rivals include Black Guerrilla Family and Hispanic gang among others. The gang is primarily formed on grounds of ethnic issues as they claim to protect the integrity and wellbeing of their races thorough their activities. To be noted, the gang has been involved in numerous criminal activities in several decades but in the recent times it became quite active in Los Ang eles. The leader of the group was arrested in the 2012 for involving in activities of drug dealing in the northern area of Los Angeles. Reports also suggest that the gang was also involved in harassing and torturing the black people in southern regions (Inside Prison, n.d.). Conclusively, it can be affirmed that the gang is quite active in Los Angeles with their continuous criminal activities over the last decade. As a matter of concern, the police declared Mexican Mafia, active in Los Angeles, as one of the most dangerous and notorious gangs in comparison to other smaller groups within the community. The primary intention of this particular assignment is to depict the emergence and the growth of traditional gangs in the US over the past decades. Contextually, it has been noted that gangs started to emerge in this particular region of the world during the 1920s and is continually flourishing in the modern day era. The reasons of gang formation

Problem solution Essay Example | Topics and Well Written Essays - 1250 words

Problem solution - Essay Example However, with proper outlook and penalties, the drug cartels can be eradicated and the prevalence rate reduced. Causes of the Problem Modernization of cartels Cartels have modernized and no longer operate using the old-fashioned methods of organization and weaponry. These cartels will buy their weapons at gun shows in America and transport them in small quantities to other parts of the world so that they are not detected. These weapons include surface to air missiles as well as armored personnel carriers and communication devices (Perrin 109). The traffickers can put up huge investments such as highly designed tunnels to ensure that they are transported back and forth without any police interference. The crime families also no longer operate individually, but they have joined to form international crime networks that allow for easier shipment of drugs between countries. These collaborations include the American mafia, collaborating with the Colombian cartel and several Mexican cartel s in order to have easier transitions through borders. The Russian constellation of mafias is believed to be in sixty-five countries and the Castello family in Italy has political ties with several leaders in their country. Such collaborations have made it difficult for a single government agency to be able to prevent the entry of drugs into the country (Arquilla and Ronfeldt 109-111). Insecure Neighbors For the past few years, Mexico has been waging a war on drugs. On one side are the government forces on the other the Mexican cartels who want to continue the business due to its high profits. Mexican smugglers are believed to make 30 billion dollars annually from the movement of drugs into USA and this operation has profited them to the point that they can successfully resist government forces for over 6 years. This war aptly named El Narco has caused many Mexicans to migrate annually from their country to USA. Every year approximately 500000 Mexicans move into the country with ove r 80% using illegal methods (David 11). These immigrants provide the cartels with many possible routes for entry into the country as well giving the cartels in USA many potential recruits to use as traffickers in the Border States and to spread as they move. The USA cannot simply close off its borders due to its long-standing trade with Mexico. Mexico is USA’s third largest trading partner and provides it with oil a vital ingredient for its industries. Until the Mexican forces win El Narco, the USA will experience a drug influx from its southern border. Poor Policy The USA policy on drug use has been severely criticized due to its ineffectiveness in reducing the narcotics prevalence rate but increasing the number of people incarcerated. The law has been criticized as being vengeful and targeting minorities and the poor (Kain). Majority of the people arrested for drug related offences are disproportionately black even in states where they are an insignificant minority. Due to the high incarceration rate and the policy not being geared towards catching the overseers of these operations, many first time offenders will leave the prisons to go back into the habit. Until the government reviews its policy on punishment and rehabilitation, a large number of poor and minority groups will continue to operate in the drug business. Solutions Policy Change The United States needs its review its strategy on the war on drugs and look into reducing the demand instead of fighting

Economic growth and convergence in poor countries Dissertation

Economic growth and convergence in poor countries - Dissertation Example d stimulation of the sales by means of advertising, personal sales, public relations and various material incentives addressed to consumers, agents and sellers; provision of price conditions, that include planning of the systems and price levels for provided goods, defining technology of price, credit, discount usage; satisfaction of technical and social norms of the region where the products are sold, which means the duty to provide appropriate security of product consumption and environment protection, accordance to moral norms, appropriate level of consumer value of the product; managing economic growth activity as a system, i.e. planning, carrying out and control of economic growth program and individual duties of each participant of production process; evaluation of the risks and profits, efficiency of economic growth decisions. The given paper will provide the analysis of the problems, which developing countries face on the way to economic growth and will prove that in order to stimulate economy, it is necessary to provide innovations in the field of marketing and management. Research analysis and limitations The research process should cover a number of stages. First and foremost, the detailed review of literature is performed, to identify the gaps in research and develop a clearer picture of contemporary management practices in the developing countries. The development of the research question was followed by the analysis of the available literature and potential research objects. Researched countries made the whole research relevant, efficient, and justified. The choice of Ukraine as an example was followed by the development of the research instrument and its analysis. The most important research findings include: The prevailing majority of developing... During the process of market-oriented reformatting a new model of economic development was shaped in many developing countries. It is characterized by high degree of economical openness towards foreign commerce. Many developing countries face the following problems:†¢Ã‚  Limited domestic demand, caused by total pauperization of the population and large-scale humiliation of pre-reforming savings. It leads to narrowness of domestic market, which produces a small volume of solvent demand, regardless of relatively big population. Under such circumstances export becomes a significant factor of economic growth, which is abnormal for economical security of the state, and affects the perspectives of the state influence on the processes of world economy. Market narrowness does not produce appropriate stimulus for investment in the state from domestic and foreign investors.†¢Ã‚  Unfavorable nature of investment climate, caused by incompleteness of the market-addresses institutional r eforms, high level of interference of state institutions and officials into economical activity, high rates of corruption, incompleteness of market infrastructure. It produces the narrowness of domestic market and detracts the capital flows from the country.For example, the crisis of Ukrainian economy was caused by insufficiently considered monetary policy of the government and influence of the structures that are interested in creation of economy of non-payment. Government is planning to remove these structures.

Company Summary Essay Example | Topics and Well Written Essays - 500 words

Company Summary - Essay Example Planning, Organizing, Leading and Controlling. Microsoft has been known for its planning, organising, leading and controlling functions. Considering the most essential element of management – Planning, it has been seen Microsoft has a very strong planning process. The company’s planning is done only by the top management and all plans require to be consented by the board of directors and most essentially by Bill Gates. The plans are generally developed by the top level and then are passed down to the various departments of the company, where each of the plans is implemented. The second essential management function is organising. This function is another very essential element of the business and here the company require establishing the functions and assigning them to the respective teams. This is an essential element as it brings teams together to work towards the same goal. Microsoft pays a lot of attention to this and this is clear from the fact that the company is spread worldwide and the only focus of across the world is to ensure complete organisational success. Leading forms the third main aspect of the managerial functions of any business. The ability to motivate and lead the company to reach heights of success is where Microsoft and Bill Gates have been recognised to be the root cause for the immense success that the company faces. Bill Gates is the current chairman of Microsoft Company and has been ranked to be the wealthiest person in the world. He has been known to be one of the biggest revolutions in the computer industry. Bill Gates has built a strong image for himself and has grown to be recognised as the best entrepreneurs in the world. He has set down examples, is admired by many as well as has been criticized for his style of business (Lesinki, 2006). There have been mixed views on his style of working and he has been criticized of being anti

Auditing and assurance Essay Example | Topics and Well Written Essays - 3250 words

Auditing and assurance - Essay Example Therefore, this report will discuss the background of the financial crisis and the proposals tabled by the commission. 1. Background of the financial crisis The financial crisis started in the year 2007 and spread with intense in 2008 despite of the central banks and regulators effort to calm it down (Merkel, 2012). In early 2009, the global economy was experiencing recession and the only way out was to focus was on preventing the downtown from prolonging to a great depression. The root causes of the financial crisis had to be looked into so as to take a cause of action (Se Hoon et.al 2008). Everyone one was responsible for the financial crisis from the government, auditors, credit agencies, banks and the public. But most of the causes originate from banks and financial institutions since they are responsible for regulating monetary policies and financial stability. Banks and other financial intermediaries play a critical role in the financial system thus it is vital to understand th eir role (Allison 2012). For instance, they respond to contagion meaning that one shock can affect a wide area. Therefore, if a shock is experienced by the banks, then the whole financial sector will experience the same impact. According to Allen (2001), a study conducted shows that when banks are have different network structures, they likely respond to contagion. Diamond (1996) points out those banks insure against liquidity shocks by having their interbank deposits exchanged. As a result, swapping of deposits exposes the banking system into contagion. This means that if the banks are secure from liquidity, then the financial sector is also safe. Therefore, we can say that banks responded to contagion during the financial crisis and as a result the global economy was affected (Se Hoon et.al 2008). Banks eliminate information problems between investors and borrowers by monitoring and ensure that depositors’ funds are in proper use. Secondly, they spur up economic growth. The y also provide intertemporal smoothing of non-diversifiable risk at a given time as well as insuring depositors against consumption shocks. Moreover, the origin of the crisis is believed to be in U.K and in U.S. In the financial system, lenders of money include households and firms while borrowers include firms, governments and households. Lenders supply funds to borrowers in two ways. To begin with, lenders supply money through the financial markets. Secondly, through which lenders supply money is through financial intermediaries such as the banks, mutual funds, market funds, pension funds and insurance companies. The bank relaxed the lending policies by reducing the interest rates and as a result many borrowers were attracted. In U.S mortgage lending rates were relaxed and also in U.K by the Bank of England. The housing prices rose and then began to fall to unsustainable levels as a result of the abundant credit and as a result the housing bubble came into the scheme (Calvo 2009). The decline in the value of houses made borrowers to default their mortgage loan payment. The U.S public debt which forms 100% of its GDP was also another contributor of the financial crisis. Other countries such as Japan and china run surpluses. Investigations show that many banks had an

Target Retail Company Research Paper Example | Topics and Well Written Essays - 1250 words - 1

Target Retail Company - Research Paper Example This company was driven by the personal principles practiced by Dayton, whereby he believed in reaching higher grounds of stewardship and this made his store become known for dependable merchandise, generous spirit and fair business practices (Target Brands, Inc., 2011). In 1911, Dayton Dry Goods Company was named The Dayton Company so as to incorporate its assortment of goods and services that it had started offering and soon it is commonly known as the Dayton Store. In the year 1916, this company becomes part of the co-founders of Retail Research Association, which is a leading retailers’ cooperative which later expanded and was named the Associated Merchandising Corporation in 1918. In the same year, George Dayton creates a foundation, The Dayton Foundation endowed with $1 million with the aim of promoting human welfare across the world. This was later renamed the Dayton-Hudson Foundation in the year 1969 and later became the Target Foundation in 2000. Following stalling of shipments in 1920 due to a freight handlers strike, Dayton decided to use airplanes to ship goods throughout the country, an idea that was well received by the public following the effects of the crisis on the consumer market. A radio station was created by Dayton in 1922 with a massive influence on Minneapolis. The son of Dayton, George N Dayton, takes over presidency of Dayton Company in 1938 following his father’s death. This company came up with the idea of giving 5% of its pretax profits to the community as a corporate social responsibility strategy in 1946. A new generation of leadership is borne following the death of George N. Dayton, where the grandson Donald C. Dayton, takes over the running of the company in 1950, and this was followed by all the Dayton’s grandsons taking over leadership positions within the company. A commercial interiors department was opened

Auditing and assurance Essay Example | Topics and Well Written Essays - 3250 words

Auditing and assurance - Essay Example Therefore, this report will discuss the background of the financial crisis and the proposals tabled by the commission. 1. Background of the financial crisis The financial crisis started in the year 2007 and spread with intense in 2008 despite of the central banks and regulators effort to calm it down (Merkel, 2012). In early 2009, the global economy was experiencing recession and the only way out was to focus was on preventing the downtown from prolonging to a great depression. The root causes of the financial crisis had to be looked into so as to take a cause of action (Se Hoon et.al 2008). Everyone one was responsible for the financial crisis from the government, auditors, credit agencies, banks and the public. But most of the causes originate from banks and financial institutions since they are responsible for regulating monetary policies and financial stability. Banks and other financial intermediaries play a critical role in the financial system thus it is vital to understand th eir role (Allison 2012). For instance, they respond to contagion meaning that one shock can affect a wide area. Therefore, if a shock is experienced by the banks, then the whole financial sector will experience the same impact. According to Allen (2001), a study conducted shows that when banks are have different network structures, they likely respond to contagion. Diamond (1996) points out those banks insure against liquidity shocks by having their interbank deposits exchanged. As a result, swapping of deposits exposes the banking system into contagion. This means that if the banks are secure from liquidity, then the financial sector is also safe. Therefore, we can say that banks responded to contagion during the financial crisis and as a result the global economy was affected (Se Hoon et.al 2008). Banks eliminate information problems between investors and borrowers by monitoring and ensure that depositors’ funds are in proper use. Secondly, they spur up economic growth. The y also provide intertemporal smoothing of non-diversifiable risk at a given time as well as insuring depositors against consumption shocks. Moreover, the origin of the crisis is believed to be in U.K and in U.S. In the financial system, lenders of money include households and firms while borrowers include firms, governments and households. Lenders supply funds to borrowers in two ways. To begin with, lenders supply money through the financial markets. Secondly, through which lenders supply money is through financial intermediaries such as the banks, mutual funds, market funds, pension funds and insurance companies. The bank relaxed the lending policies by reducing the interest rates and as a result many borrowers were attracted. In U.S mortgage lending rates were relaxed and also in U.K by the Bank of England. The housing prices rose and then began to fall to unsustainable levels as a result of the abundant credit and as a result the housing bubble came into the scheme (Calvo 2009). The decline in the value of houses made borrowers to default their mortgage loan payment. The U.S public debt which forms 100% of its GDP was also another contributor of the financial crisis. Other countries such as Japan and china run surpluses. Investigations show that many banks had an

The Things They Carried Essay Example for Free

The Things They Carried Essay During the Vietnam War Jimmy Cross was tasked as the lieutenant in the Vietnam War in Tim Obrien’s The Things They Carried. He took responsibility full of challenges past warfare. The war was a very psychological war for the positioned soldiers in the army. The strange environment that included shady places, waiting corners, diseases and death other than the problems they carried from home. Every soldier there held on to something that kept them bound to their previous life. Jimmy Cross carried his love for Martha. Jimmy’s love for Martha was in hesitantly controlling over his entire life. Jimmy imagined himself loving her and her loving him the same way back: More than anything, he wanted Martha to love him as he loved her, but the letters were mostly chatty(495), blinded by the truth held in the letters that Martha didnt feel the same way he continued to feel passion. Jimmy Cross feelings for Martha is said to be the cause of Ted lavender death. Surviving the war wasn’t as an accomplishment as everyone thought. Jimmy Cross figured it out the hard way. Norman Bowker was a man who represents the damage that a war leaves in a soldier after the war . Norman Bowker’s sorrow and confusion are so powerful that they prompt him to drive without direction around his hometown in â€Å"Speaking of Courage†.Bowker also wrote a seventeen-page letter to Tim O’Brien explaining how he never felt right after the war in and to hang himself at the end of the chapter. â€Å"War is often†¦ a mass release of accumulated internal rage where the inner fears of mankind of fulfill in mass destruction† was the best summary that was given about war by psychoanalyst Joost Meerloo. War is a mental land mine. The psychological damage of war is so severe that it leaves the threat of hurting someone or yourself. This is known as PTSD (Posttr aumatic Stress Disorder). Soldiers’ re-experience their time at war through nightmares or/and flashbacks. People with PTSD have difficulty sleeping and are hyper vigilance. Every war brings its certain amount deaths and sorrow. Surprisingly most death is caused by the victim themselves. It is said that more American soldier take their own life compared to the soldiers killed in fighting. Suicide rates increase on and off the combat zone. Veterans like Matthis Chiroux regret his choice to go to war. He dedicated to showing young students the side of being a soldier of the army that they don’t talk about. He runs â€Å"We are not your soldiers† lectures which send the message â€Å"Don’t become one of us†. Matthis hopes to stop more people from repeating his mistakes and becoming part of the â€Å"grim statistic†. They say that going to war is scary because of the things you can loose, one limb or maybe two. But second to death, PTSD is the worst scar to bear. To always be haunted of the memories of the thing you had to do or were done in order for you to survive. The horrifying and animalistic behavior you witness. From town massacres to killing innocent children, it will haunt them. Tim O’Brien book â€Å"The Things They Carried† basically explains the horrifying experience he went through and how he found the ability to cope with it and stay sane. But not everyone is that lucky to find a balance in their head to keep them from insanity or suicidal actions. The way I see it Tim O’Brien himself was giving us a lesson.

Capital Market Union: Do We Need One?

Capital Market Union: Do We Need One? Introduction Capital market integration is not a new topic in the EU. It became however pressing again after the international financial crisis, that exposed the limits of European firms overreliance on banks. The Juncker Commission made CMU one of its flagships initiatives, aiming at reducing national fragmentation and barriers in order to create a better environment for firms financing. While such a decision can be easily understood from a single-market perspective of analysis, the proposed and implemented reforms in order to establish such a unified market do not tackle deep structural differences at the national level, while also avoiding the strengthening of a central supervisor, undermining the efforts of harmonisation. What is CMU? The idea of a European Capital Market Union (thereafter CMU) was presented on 15 July 2014 by the soon to be President of the European Commission Jean-Claude Juncker addressing the European Parliament[1], subsequently inserted in the Commissions priorities through the establishment of a new Directorate-General for Financial Stability, Financial Services and Capital Market Union[2]. As repeatedly stressed by Juncker, the top priority of his presidency is to strengthen Europes economy and stimulate investment to create jobs, favouring a deepening of capital market integration and a reduction of the current fragmentation between national borders. In the words of former Commissioner Hill, the CMU is about linking savings to growth in Europe, Capital market union is not a novelty in the integration debate: the free flow of capital is indeed one of the fundamental principles (the so-called four freedoms) on which European integration is based since the treaty of Rome (art. 63 TFUE). In the 1980s a first wave of integration dealt with harmonisation of public offering and listing particulars. In 1993 the Investment Service Directive (ISD)[3] was agreed. In the wake of the EMU a new wave of harmonising measures was proposed under the aegis of the Financial Services Action Plan (FSAP), with the ambition to increase growth and reduce funding costs. The centrepiece was the 2004 Markets in Financial Instruments Directive (MiFID)[4], but it also contained measures regulating disclosure and market manipulation. Notwithstanding years of harmonising regulation and a common currency for most EU member states, capital market is still fragmented, integration often rests on a vertical base, few EU-wide structures have emerged in the last decade and the most powerful intermediaries are often of US parentage. Europe has struggled for decades to create a decent capital market, heavily relying on bank financing, and the financial crisis has retrenched and re-fragmented the landscape. A capital market channels money provided by investors and banks to borrowers through a variety of instruments, called securities. A central problem in the development of such a market is the information asymmetry between issuers and investors. As noted in Black (2000), both governmental bodies and self-regulatory organizations and reputational intermediaries play a role in guaranteeing the enforcement of transparency of information and correct price formation. Formal rules are only the beginning: the real challenge is the direct and indirect enforcement of new legislation. Rationale for CMU The proposal for CMU can be analysed through different lenses, justifying its rationale.First and foremost, the allocation of resources in the actual structure of the EU is over-relying on bank loans. While retail banks have a better knowledge of local situation, often providing more information to investors and borrowers, bank funding is not always the most efficient way for dynamic and highly growing enterprise to fund themselves. Moreover, due to the increased capital requirement for banks after the financial crisis and the difficulties encountered by some banks regarding their balance-sheets and the bias over sovereign bonds of their home country, financing opportunities have decreased. National fragmentation and the bias for national portfolios reduce the opportunities for cross-border funding, complicating the way investors and borrowers can meet their needs. Finally especially valuable for the Eurozone enhanced financial integration act as a private risk-sharing mechanism, spreading the risk inherent in investment on a cross-national field, thus reducing the risk of asymmetric shocks in the area and fostering the resilience of the block. This consideration is even more important considering the lack of political will to establish a public shock absorption mechanism as for instance proposed in the Five President Report (Juncker, Tusk, Dijsselbloem, Draghi, Schulz, 2015). Moreover, numerous forms of financing and better allocation of resources within the Eurozone foster the transmission channel of monetary policy, enhancing the ability of the ECB to meet its targets (ECB 2012). European and US capital markets The natural benchmark for capital markets is the US. Comparisons can be made at the EU level, but once we consider the country specificity we have an even more complex landscape. In fact big differences remain between national markets, mostly of a structural nature. When the CMU action plan was presented, although US and EU economies have roughly the same size, US venture capital market is five times EUs one and US equity markets are twice the EU ones in term of capitalization. Europe has a universal banking landscape with large banks covering commercial and investment activities. While in the US 80% of corporate debt financing depends on capital markets, in the EU 90% depends on bank financing[5]. Such dependence made the European economy vulnerable when banking conditions tightened in a number of member States during and following the international financial crisis. Moreover, the financial crisis had a considerable negative impact on securitization issuance in Europe, dropping from 594 billion euro at the end of 2007 to 216 billion in 2014 (on the rise since 2011). Finally, international capital requirement and EU banking regulation changes during the crisis impacted bank lending. Variation within Europe Other than having a different system to the one of the US on aggregate, within the EU there is also great variation on the depth and development of capital markets nationally.   Ã‚   Only 9 Member states have non-banking financial intermediation above 50% of GDP. Divergence can be seen also in the stock market capitalization of different member states as a percentage of GDP. Moreover, also the access to firms and individuals differ considerably among member states. Non-financial company reliance on equity issuance exceeded reliance on bank credit in only the UK and Denmark. Reliance on both equity and debt issuance exceeded reliance on bank credit in external company finance in only UK, Denmark, Finland, France, and Germany (European Commission, 2015a). Obstacles and barriers in the European Union landscape In the EU there are actually 28 different codes of tax, company and insolvency law that transnational investors have to deal with, blocking the smooth flow of capital between member states. Taking the example of bankruptcy law, different traditions and level of protections for investors are in place in member states. As Jey Westbrook, emeritus director of the International Insolvency Institute highlighted, The Brits have always had a more sympathetic idea to saving a debtor in trouble, Westbrook said. The Germans have had a much stricter view: There remains a big bias in favour of the idea that the management of this company screwed up, theyre losers, they probably did something fraudulent, the company should be bankrupt and pay the creditors as best they can, and the management should go join a monastery, so to speak. And then you have French law, which is somewhere in between but has much more emphasis on protecting employees and protecting jobs.[6]. The creation of truly European-wide securities moreover runs into the quest for harmonisation. Creating a security for home-mortgages, for example, requires that repossession laws in member states is to a certain degree homogeneous, same as the length of time spent in court to enforce a contract. Data from the World Bank doing Business indicators[7] show that litigation in court in countries like Italy and Greece can take up to three times the time spent in court in the Netherlands or Sweden. Banks normally bundle securities together into homogeneous groups (in our case Dutch mortgages packed together and Greek ones in a different securities). Moving to a single market for capital would require further harmonisation in national law in order to overcome national bias. Juncker CMU action plan After the publication of a Green paper in February 2015 and a public consultation to gather expert opinions, on 30 September 2015, the Commission adopted an action plan setting out a list of key measures to achieve a true single market for capital in Europe. It is supposed to be fully in place by 2019. As the plan reads there is no single measure that will deliver a Capital Market Union, meaning that a set of initiatives will be undertook in the short to medium run to facilitate the flow of capital, with the aim of reducing barriers between national borders. The process will take years, so it has not to be seen as a cyclical patch for relaunching growth in a stagnating post-crisis EU, but as a structural reform on the way credit is allocated throughout the continent. As outlined in the Green Paper the Commission supports market driven solutions when they are likely to be effective, and regulatory changes only where necessary (European Commission 2015a). Other than the action plan on CMU the commission also presented two directives on securitization: the first building blocks of CMU. The concrete outcome consists mainly of few technical proposals and amendments. First, changes to the prospectus Directive are proposed in order to facilitate SME financing, limiting the burden that these companies have to take in order to enter capital markets. Secondly, it recognizes the need to facilitate infrastructure financing and securitization through changes in the solvency II Directive and the capital requirement Regulation. SME financing is a focal point of the plan given the importance of those enterprises in creating jobs in Europe. The Commission plan aims at: Financing for innovation, start-ups and non-listed companies Making it easier for companies to enter and raise capital on public markets Investing for long-term, infrastructure and sustainable investment Fostering retail and institutional investment Leveraging banking capacity to support the wider economy Facilitating cross-border investing These broad goals are not fully operationalised and from the text there seems to be some inconsistencies. While the proposed approach is bottom-up, removing barriers when encountered, the Commission action aims at harmonising practices while possibly (as stated in the 5 Presidents Report) central supervision. What has been done until now In December 2016 the Council has agreed on the revision of EuVECA and EuSEF[8] making it easier for investors to diversify funding sources. Prospectus directive has been amended in December 2016 and now awaits implementation (capital rising up to 1 million euro will not need a prospectus; EU prospectus only required for risings over 8 million; new EU growth prospectus for facilitating cross-border money rising; ESMA will maintain a European online prospectus database; prospectus will be shorter and less costly to produce). Amendments to Solvency II legislation regarding infrastructure projects took effects in April 2016, concerning the calculation of regulatory capital requirements for several categories of assets held by insurance and reinsurance undertakings. No legislative steps yet. Proposal on simple, transparent and standardised (STS) securitisations and revision of the capital calibrations for banks. Structural Reform Support Programme within the Commission to spread best-practice and suggest reforms to member states. No other legislative procedures already enacted. Critical analysis While aiming at promoting investments in Europe, Giovannini et al. (2015) argue that it is not clear what are the causes of low investments in Europe, whether it depends on fragmented financial systems or if it is due to a low demand for capital. This means that the presumed effect of the CMU cannot be yet fully quantified. In order to strengthen cross-border transaction one of the most pressing issue is to improve the quality of information flow in order to establish market mechanism. This would require actions to increase the quality and harmonization of company data across Europe, including accounting standards, credit information and ownership. Considering the legislative outcomes so far, the CMU project has relied mainly on technical adjustments on existing legislation, creating new layers in order to arrive at a European-wide rulebook. The reformed prospectus directive, combined with the agreement of banks all over the continent to give feedbacks to firms in the case funds are not granted is a positive step forward. SMEs, having feedbacks on the best way to raise money will now be able to more easily access capital market due to the more limited fixed costs related to it. The STS securitization regulation includes a list of 55 criteria that a securitization should comply with in order to qualify for the STS label. These criteria aim at mitigating the risks arising from the process of securitization itself, allowing the investors to focus their assessment on the credit of the underlying assets. A major critical point however is that such a regulation without a proper enforcement mechanism is deemed to be at best suboptimal. National supervisors will be tasked to control the respect of these standards and sanction non-compliance, undermining the role of these assets in being really European, and creating possible conflicts due to different applications of standards between national regulators. Conclusion and final remarks The CMU action plan do not promise to eliminate the deep structural barriers that stands in the way of fully integrated capital markets. Moreover, much of the CMUs success depends on whether financing instruments represent free choices by SMEs or whether they are mainly dependent on the domestic market structure. In the latter case reform of the regulatory framework without harmonisation of national legislation will not guarantee enhanced financing opportunities for enterprises, jeopardizing the success of CMU itself. If the deep structural barriers that prevent cross-border integration of capital markets are not tackled, financial centres that are already at a competitive advantage will be in a good position to increase their market share. On a side note, the effect of Brexit has a huge weight in the future of CMU, being London the most important financial hub in the continent. Brexit offers however also the opportunity to revise the governance system of the CMU, proposing the stepping up of ESMA competencies in supervising European instruments. The UK was against further centralisation of competencies at the EU level, but now such a possibility should be taken into consideration, in order to strengthen the common supervision same as happened within the framework of the Banking union. Reference: Black, B. S. (2000) The Core Institutions that Support Strong Securities Markets. Business Lawyer, 55, 1565-1607. Commain, S., (2016) The securitisation regulation: missing the target?. CEPOB, 16/16 Demary, M., Hornik, J., Watfe, G. (2016) SME financing in the EU: moving beyond the one-size-fits-all. Bruges European Economic Policy Briefings, 40/2016. ECB (European Central Bank) (2012) Financial Integration Report (Frankfurt: ECB). European Commission (2015a) Green Paper: Building a Capital Markets Union, COM(2015) 63 à ¯Ã‚ ¬Ã‚ nal. European Commission (2015b) Action Plan on Building a Capital Market Union, COM(2015) 468 final. Giovannini, A., Mayer, C., Micossi, S., Di Noia, C., Onado, M., Pagano, M., Polo, A. (2015) Restarting European Long-Term Investment Finance, CEPR Press. Quaglia, L., Howarth, D., Liebe, M. (2016) The Political Economy of European Capital Markets Union. Journal of Common Market Studies, 54, 185-203. [1] A New Start for Europe: My Agenda for Jobs, Growth, Fairness and Democratic Change, http://ec.europa.eu/about/juncker-commission/docs/pg_en.pdf [2] Chaired by the British Johnathan Hill and lately by Dombrovsksis after the Brexit vote. [3] Council Directive 93/22/EEC of 10 May 1993 on investment services in the securities field. [4] Markets in Financial Instruments Directive 2004/39/EC [5] Historically in the USA from 1933 with the Glass-Steagall Act commercial and investment banking were separated until 1991, fostering a deepening of capital market financing in the country. [6] http://www.politico.eu/article/moving-money-a-capital-markets-union-primer/ [7] http://www.doingbusiness.org/data [8] Regulation (EU) No 345/2013 on European venture capital funds and Regulation (EU) No 346/2013 on European social entrepreneurship funds.