Future of Moderinization Essay Example | Topics and Well Written Essays - 1000 words

Future of Moderinization - Essay Example The central concept in the study of social change is modernity, where social patterns emerge from the lap of industrialisation. In everyday terms, modernity refers to the present in relation to the past. Sociologists use this gross concept to describe different social patterns, set in motion by the Industrial Revolution of Western Europe during mid-eighteenth century. Modernisation, then, is the process of social change begun by industrialisation. Modernity shelters â€Å"the progressive weakening, if not destruction, of the . . . relatively cohesive communities in which human beings have found solidarity and meaning throughout most of history† (Berger, 1977, 72). Small, isolated communities still exist in the United States, but they are sheltering only a tiny percentage of the nation’s population. These days, any physical isolation is only geographic: Cars, telephones, television, and computers give most far-flung and remote families the pulse of the larger society and the accessibility to the entire world. People in traditional, preindustrial societies lived their lives as at mercy of forces that is gods, spirits, or simply fate that is beyond any human control. As the power of tradition weakens, people come to see their lives as an unending series of options, a wide-open cielo of choices. Modernisation introduced a more rational and scientific viewpoint as tradition loses its hold and people adopted more and more individual choice. The growth of cities, the expansion of impersonal bureaucracy, and the socio-cultural mix of people from various backgrounds combine to encourage diverse beliefs and behavior. Modern people are not only forward-looking but also optimistic about new inventions and discoveries, which will improve their lives. Modern people organize daily routines down to the very minute. With the introduction of clocks in the late Middle Ages, Europeans began to think not in terms of

Inquiring Minds Want to Know - Now Case Coursework

Inquiring Minds Want to Know - Now Case - Coursework Example The other research question could be, should the company retain the reader services cards in it future advertisement services? Investigative questions: How does the current trend in the number of reader service card subscribers compare with the recent past? What are the alternative services being used by the clients and how can the alternative methods be implemented in Penton Media to enhance its advertising revenue returns? 2. Ethical issues relevant to this case study. The ethical principles of confidentiality, privacy and individual autonomy emerge as the most relevant issues in this case study. Since the company investigates individual customer behaviors and views, it is therefore, ethically obliged to ensure that its finding remain confidential and are not exposed to other people other than for the company’s use only. In this case, the company committed itself to respect the principles of confidentiality and privacy in handling the participants’ responses (Cooper & Schindler, 2010). On the other hand, the company must seek the consent of the participants before sharing its findings with the rest of the company stakeholders. The findings should remains anonymous from the point of collection to its analysis in which no identification should be given for responses provided. Researchers must present the research findings without any form of biasness or manipulation of the results to suite certain expectations. 3. Describe the sampling plan. Analyze its strengths and weaknesses? Researchers in this study applied the unrestrictive random sampling plan in which different sample were drawn from the company’s database of 1.7million subscribers. A small sample of 300 subscribers was then used for the mail survey pretest. Researchers are also used the stratified disproportionate random sampling to draw another sample of 4,000 participants including executives, managers, purchasing agents and engineers from the company’s database(Cooper & S chindler, 2010). Some weaknesses can identified with sampling plan including the possibility of locking out some participants that could provide important information about the problem faced by the company. The use of self-reporting questionnaires provides participants with the freedom to present their views although resulted in significant reduction of the targeted sample. The use of mail surveys in form of questionnaires made the collection data less costly and time consuming. 4. Describe the research design? The research design involved in this study was the multistage design in which different samples and different phenomena were studied in the same study. The study entailed the pretests and the main study. The first study established the views of subscribers through questionnaires and phone surveys, then a selected sample of 300 subscribers and finally a sample of 4000 participants selected from the company’s leadership (Cooper & Schindler, 2010). 5. Critique the survey used for the study The survey did not reflect the actual situation in the publication market segment because the sample was drawn from the company’s database comprising of its clients rather than obtain information about the market. Therefore, segmentation of the sample population limited the information obtained from the study. The study also had a significantly high error margin of +- 4% which raises issues of reliability and validity of the data obtained (Cooper & Schindle

Marks and Spencer Business and Financial Performance Analysis

Marks and Spencer Business and Financial Performance Analysis Marks and Spencer is a British retail giant specialised in apparel and food industry. The company had been in its business for more than hundred years and has the biggest market capitalisation in the retail industry. This research is conducted to measure and analyse the business and financial performance of the company. Business performance is measured in this study considering the opportunities and constraints in company macroeconomic and industry circumstances. Financial performance had been measured using ratios on profitability, liquidity, efficiency and leverage. There performance of MS is then compared with the financial performance of Next Group, the next biggest player in British retail industry. The study found that, although MS has many business successes over the years, it had been performing financially poorer than Next Group and needs emergency improvement in its liquidity. The study recommends Marks and Spencer to rethink its leverage strategy and exploit the benefit of debt as like Next Group. Chapter 1 Introduction 1.1 Study Background Marks and Spencer is one of the largest retailers in UK specialised in clothes and foods with a market capitalization of more than  £6400 million1. We have over 700 stores located throughout the UK and Republic of Ireland; this includes our largest store at Marble Arch, London. In addition, the company has over 300 stores worldwide, operating in more than 40 territories2. In 2010 the companys sales revenue from general merchandise was  £4.1 billion and  £4.3 billion from foods. Its nearest competitor Next, which has a market capitalisation of around  £4100 million1, had a turnover of  £3.41 million in 2010 with a market share of 8.3% in comparison to 11% by Marks and Spencer in general merchandise segment. This study is particularly concerned with the business and financial performances of Marks and Spencer which are compared with the performances of Next. 1.2 Study Objectives The prime objective of this research is to analyse and evaluate the key business and financial performances of British retail giant Marks Spencer from year 2007 to 2010. While achieving this objective the research will try to meet the following secondary objectives 1.2.1 Analyse the major business performances of the company over last three years: The study will examine the companys performances in major business areas including its growth, market share, competitive position in the whole macro environment and major strengths over its competitors. 1.2.2 Identify and analyse the measures key financial performances: The second objective of the study is to identify the measures of companys financial performances especially in profitability, liquidity, investment and leverage performances. Besides this operational performances in other areas would be identified and anlaysed under this objective. 1.2.3 Compare the performances against Next: The third objective of the study is to compare the financial performances of M S with the performances of Next, the nearest competitor in general retail section. 1.2.4 Identify the major problems of Marks Spencer in business and financial performances and provide recommendations: Finally the study will try to identify the major weaknesses of Marks Spencers based on the measures of business and financial performances. The research will also formulate 1.3 Study Scopes and Usefulness of the Study Scope of this research work is three years (2007-2010) business and financial performances of Marks and Spencer. The scope also includes financial performance of Next for the same period. The findings of the study can be useful information for investors. The method used by the study can be a guide for the business and financial analysts. 1.4 Research Structure The research paper is structured in line with the sequence of objectives. The first chapter includes the rationale and objectives of the study. Then relevant literatures and theoretical issues are discussed in chapter two. The third chapter will present the methods of conducting this research work. Companys business performances and financial performances would be presented consecutively in chapter four and five. In chapter six Marks and Spencers performance will be compared with Nexts performance and areas of improvement for M S would be identified. Finally in chapter six recommendations would be provided with final remarks. Chapter 2 Literature Review 2.1 Introduction As discussed earlier, this research work is concerned with the business and financial performance of Marks and Spencer. This chapter will narrate an overview of the business operation of the company. This chapter will also review the techniques of measuring business and financial performance especially using qualitative and quantitative techniques along with brief interpretation of the performance measures. 2.2 Marks and Spencer: An Overview Marks and Spencer is a FTSE 100 company with the largest revenue base of more than  £8 billion as a retailer. It is headquartered in City of Westminster, London having operation in more than 40 countries. The following section provides a brief discussion on companys history, main line of business, geographical spread, summary of financial performances, its corporate social responsibility and the management. 2.2.1 Corporate History Marks and Spencer was established in 1884 by Michael Marks and Thomas Spencer3. The company had a policy of selling only British-made goods which made it popular in early 20th century. It started its apparel brand St Michael in 1928 and in 1950 St Margaret label was introduced for woman clothing. The company started its international expansion in 1970s by putting its step in central Europe and Ireland. During its hundred years of lifetime the company became the pioneer in quality management, customer relationships, health and safety and energy efficiency. The companys performance briefly slumped during the first decade of new millennium. However, the company is back to profit and growth in 2010 under the strong leadership of Marc Bolland who joined the company as CEO in May 2010. 2.2.2 Core UK Businesses M Ss core UK businesses include general merchandise and foods. It is largest clothing retailer including womenswear, lingerie and menswear and kidswear. Last year the companys turnover in general merchandise was  £4.1 billion which constituted an stunning 11% of the overall market share. Marks and Spencer is also the leading provider of high quality food, selling everything from fresh produce and groceries, to partly-prepared meals and ready meals and an award winning range of wines. Turnover from foods was  £4.3 billion in 2010 with a modest market share of 3%. 2.2.3 Sales Channel Customers shop with MS in many ways in stores, online or over the phone (MS Annual Report, 2010). The company has 690 stores across the UK. Its shops are located in convenient locations from high streets to retail parks, train stations to airports. Over the past four years the company has transformed these stores into bright and contemporary destinations with a range of hospitality options. The company also sells online which it calls MS Direct. MS Direct is a platform for improving customer convenience and service including via its website and newly launched Shop Your Way facility. The company aims to achieve £500m in sales through MS Direct by 2010/11. 2.2.4 International Business MS has 320 owned and franchised stores in 41 countries. The companys mix of ownership models and countries enabled it to perform well over the past year even when individual markets were weak. In 2010 its international turnover was  £949 million which is more than 15% of its overall revenue. 2.2.5 Recent Business and Financial Performances In 2010 the companys sales were up by 3.2% despite recessionary pressure. The overall gross margin was 41.2% with sales revenue  £9.3 billion. The company significantly improved its cost by saving  £145 million. The company reduced its capital expenditure cash outflow and generated a cash inflow of  £412m after tax and dividend. However, the companys market share was slightly down from 4.3% to 3.9%. Average visit to MS shops had been estimated around 21 million and average mystery shopper score was found to be stunning 89% in 2010. 2.2.6 About Next: The Nearest Competitor NEXT is the second largest UK based retailer offering clothing, footwear, accessories and home products. It distributes through three main channels: NEXT Retail, a chain of more than 500 stores in the UK and Eire, NEXT Directory, a home shopping catalogue and website with nearly 3 million active customers, and NEXT International, with more than 180 stores around the world. In 2010 the company had overall revenue of  £3.4 with a profit after tax of  £400 million. 2.3 Techniques of Measuring Business Performances A companys business can be analysed using various tools like PESTLE, SWOT analysis and Porters five force models. Measures of business performance might be companys expansion rate, revenue growth, development of strength, management of weaknesses and exploitation of opportunities etc. These measures can be achieved by subjective analysis and using business analysis tools. A brief discussion on these tools is presented as below. 2.3.1 PESTLE Analysis PESTLE, which is a popular macro-environmental analysis tool, stands for Political, Economic, Social, Technical, Legal, and Environmental analysis. Political factors include governments tax policy, employment and environmental law, trades and tariffs regulation, and political stability. Common Economic factors are GDP growth, nominal interest rates, exchange and the inflation rate. Key social factors are population growth, age distribution, health consciousness, religious views and career attitudes etc. Technological factors are spread and dependence on technology, innovation, research, and technological change etc. Legal factors are laws on discrimination, consumer, heath and safety law etc. Finally environmental factors include weather, climate, climate change etc. 2.3.2 Porters Five Force Model The five forces model is an industry analysis tool and provides a good idea of how a business should perform inside an industry. The model analyses five industry variables. These variables are ease of getting entry into industry, availability and potentiality of substitute products, suppliers and customers bargaining power and degree of competition in the industry. These factors determine how attractive and profitable an industry might be. 2.3.3 SWOT Analysis PESTLE and Porters models are used to analyse a companys macro and industry environment. SWOT Analysis is used for measuring a companys internal strengths and weaknesses. It also helps to identify specific opportunities and threats to company from the macro environment. 2.4 Techniques of Measuring Financial Performances Generally, financial performances are measured using the financial information of a company. Practically, ratio analyses are conducted on financial statement figures. Financial statements include companys income statement, balance sheet, statement of cash flow and statement of equity. There are several types of ratios profitability, liquidity, efficiency, gearing, and investor ratios. In following sections these groups of ratios are briefly discussed 2.4.1 Profitability Ratios These ratios are also called performance ratios where profit at different levels are compared with other figures and expressed in percentage. These ratios are (a) Gross Profit Margin: Gross profit margin is found by dividing gross profit by sales turnover and the formula looks like following The ratio can be a good indicator of companys direct cost or cost of sales. Profitability of a company in its core operation can be determined using this ratio. The higher the ratio the better it is. (b) Operating Profit Margin: Operating profit margin is found by dividing net profit by sales turnover and the formula looks like following As operating profit is found by deducting indirect expenses from gross profit, the ratio shows how much a company spends on non-direct activities. Too much cost on indirect cost might result in lower or negative operating profit margin. (c) Return on Capital: Shareholders and debt investors generally count profit on their investments. Return on capital can be calculated using the following formulas This ratio (ROCE) provides percentage return on the overall funds invested in the business. There is another ratio that provides return on stockholders equity which is called Return on Equity (ROE). The formula is as following ROE measures the profitability of the fund provided by the companys owners or shareholders. Profit margins and return on capital ratios together gives a good idea of overall profitability of the firm. A company having very good profit margin may have a poor ROCE or ROE ratio. Such cases happen when companies large investment operates in small scale or during the initial years. 2.4.2 Liquidity Ratios These are also known as solvency ratios, as they refer to the ability of the business to pay its payables in the short term. There are two main liquidity ratios. (a) Current Ratio: This is also known as the working capital ratio, as it is based on working capital or net current assets. It is calculated as: Current ratio is a measure of the liquidity of a business that compares its current assets with those payables due to be paid within 1 year of the statement of financial position date (otherwise known as current liabilities). (b) Quick Ratio: This is also known as the acid test ratio and is calculated as following This is similar to the current ratio, but takes the more prudent view that inventories may take some time to convert into cash, and therefore the true liquidity position is measured by the relationship of receivables and cash only to current liabilities. 2.4.3 Efficiency Ratios These ratios are also referred to as use of assets ratios. They measure the efficiency of the management of assets, both non-current and current. (a) Asset Turnover Ratio: These ratios compare the assets with the sales revenue (turnover) that they have earned. The end result is often expressed in money value to represent the value of sales revenue for each $1 invested in those assets. The formula is: (b) Inventory Days: Inventories may be analysed by calculating the ratio of inventories to cost of sales, and then multiplying by the number of days in a year to give inventories days. The formula is as following This figure gives the number of days that on average an item is in inventories before it is sold; this may alternatively be expressed as the number of days a firm could continue trading if the supply of goods ceased. (c) Receivable Days: This is a measure of the average time taken by customers to settle their debts. It is calculated by: As with inventories days, a slowing down in the speed of collecting debts will have a detrimental effect on cash flow. On the other hand, it may be that the business has deliberately offered extended credit in order to increase demand. (d) Payable Days: This is a measure of the average time taken to pay suppliers. Although it is not strictly a measure of asset efficiency on its own, it is part of the overall management of net current assets. It is calculated by: The result of this ratio can also be compared with the receivables days. A firm does not normally want to offer its customers more time to pay than it gets from its own suppliers, otherwise this could affect cash flow. Generally, the longer the payables payment period, the better, as the firm holds on to its cash for longer, but care must be taken not to upset suppliers by delaying payment, which could result in the loss of discounts and reliability. It is important to recognise when using these ratios that it is the trend of ratios that is important, not the individual values. Payment periods are longer in some types of organisation than in others. 2.4.4 Capital Structure Ratios Different firms have different methods of financing their activities. Some rely mainly on the issue of share capital and the retention of profits; others rely heavily on loan finance; most have a combination of the two. (a) The Gearing Ratio/Leverage Ratio: Gearing is a measure of the relationship between the amounts of finance provided by external parties (e.g. debentures) to the total capital employed. It is calculated by: The more highly geared a business, the more profits that have to be earned to pay the interest cost of the borrowing. Consequently, the higher the gearing, the more risky is the owners investment. On the other hand, a highly geared company might be more attractive to shareholders when profits are rising, because there are fewer of them to share out those profits. (b) Interest Cover: Connected to the gearing ratio is a measure of the number of times that the profit is able to cover the fixed interest due on long-term loans. It provides lenders with an idea of the level of security for the payment. The formula is: 2.5 Using Ratio Analysis Calculating the ratios is only one step in the analysis process. Once that is done, the results must be compared with other results. Comparison is commonly made between: Previous accounting periods; Other companies (perhaps in the same type of business); Budgets and expectations; Government statistics; Other ratios. 2.6 Conclusion This chapter gave brief overview of Marks and Spencer and also the tools and ratios that will be used to analyse the business and financial performances the company. The same ratios will be used to compare the performance of MS with Next. The next chapter will provide a brief overview on the research methodology and data that will be used for the research. Chapter 3 Research Methodology 3.1 Introduction Methodology may be defined as procedures that are used to conduct a function or activity. This chapter will briefly discuss on the methodology that will be used to analyse the business and financial performance of Marks and Spencer and comparing its performance with that of Next Inc. This section will also provide an overview of the data used in this study and their sources. 3.3 Required Data, Sources and Collection Methods Data required for completion of this research work are of secondary nature. Mark Spencers business related information were collected from companys website and annual reports of three years 2007, 2008 and 2009. Annual reports were collected from company website. The data required for macro-environmental analysis were collected from various articles, national statistical websites and newspapers. Financial information required for analysing financial performances are extracted from the annual reports of the company. Financial information of Next was collected in the same way. Findings of financial performance analysis are then used to identify the areas of improvement for MS. 3.4 Research Methodology Various quantitative and qualitative methods had been used to achieve the objectives these research. The nature of the methodologies are briefly discussed as following 3.4.1 Method for Analysing Business Performances: Method used for this purpose is qualitative. PESTLE analysis had been used for analysing the business performance in macro-environment. Porters model were used for analysing industry performance and position of MS. Finally, SWOT analysis was used to find out company specific opportunities and threats and companys key strengths and weaknesses. (See Chapter One to have idea of these tools). 3.4.2 Methods Used for Analysing and Comparing Financial Performances: Financial ratio analysis (discussed in chapter 1) is used to analyse the companys performance in profitability, liquidity, efficiency and leverage. The values of these ratios are compared against the ratios of Next to compare the performances of two companies. For presentation of findings different types of charts were used. 3.4.3 Methods of Identifying Improvement Areas: Areas of improvement would be identified using the findings of financial performance analysis using ratios. The areas where Next is performing better than MS would be identified as areas of improvements. After identifying areas of improvement strategy would be formulated to eliminate problem areas in companys financial performances. 3.4.4 Research and Data Analysis Tools Microsoft Excel 2007, which is a popular spreadsheet application, is used for conducting the ratio analysis and presenting findings of analysis graphically. 3.5 Conclusion This chapter provided a brief overview of the research data, methods and tools used in this research. In next, chapter the findings of the research would be presented followed analysis of findings. Chapter 4 Analysis and Findings 3.1 Introduction This research is conducted based on the information available on the Annual Reports of Marks and Spencer and Next Group as well as on the findings of professional business analysts found on reliable internet sources. In this chapter, the most important section of this study, key findings of companys business performance in light of PESTLE, Five-Forces and SWOT analysis and also the financial performance over last three would be presented. A comparison of performance with Next Group would also appear in this section. 3.2 An Analysis of MSs Business and Performance Summary Business performance of Marks and Spencer can be measured in reference to the factors available in macro-economic environment, factors in apparel and food industry and in terms of companys strengths and weaknesses. The findings of business analysis are presented as following. 3.2.1 Findings from PESTLE Analysis MSs Performance Key factors relevant to Marks and Spencers business found from PESTEL analysis can be summarised as following (table 3.1) Recent political development in United Kingdom is posing threat to many businesses in form of rise in tax rate, cut of social benefit and cap in immigration. There is also setback of recession that had injured the British economy significantly. Despite these negative elements in political and economic environment Marks Spencers revenue has grown at a steady rate over last three years (See Chart 4.1) showing no sign of recessionary impact on its business. Social environment however demonstrate goods signs for clothe and food retailers. Marks and Spencer had introduced various successful brands that meet the changing social pattern and consumer demand. The company is also successful in adopting technologies. Its ecommerce sales have increased at a sizable chunk in last few years. MS has also successfully used consumer research technologies for identifying market demands and customer needs. The retailer has proved it as one of the most energy conscious and environmentally friendly comp any in British history. Marks and Spencer is a century old company and had well adopted itself in the macroeconomic context of United Kingdom. British retail industry is run by a few very big players. In apparel retailing the popular names are Marks and Spencer, Next and Debenham. However, food retailers like Tesco and Asda are trying to get into apparel market with lower prices. However, for completely new businesses it would be very tough to challenge companies like Marks and Spencer which have grown its market share by 4% from 7% to 11% in cloth and general merchandise. The companys market share has also improved by 2% in 2010. However, MS could not maintain its image regarding its relationships with suppliers. Many international pressure groups had criticised its bargaining power on its suppliers. 3.2.2 SWOT Analysis and MSs Performance Marks and Spencer is well capitalising on its strength by adding more clothing brands and stepping foot in international markets. Last year companys international revenue was more than  £900 million with a growth of 5%. The company also have capitalised on ecommerce technology; in 2010 MS Directs revenue grew by 27%. Financial Performance Analysis In this study, Marks and Spencers financial performance have been analysed on four performance areas. These areas were profitability, liquidity, efficiency and leverage. For measuring performance in these areas eleven different ratios had been used. The findings of ratio analysis are presented as following. 3.3.1 Profitability: MS vs. Next Average operating profit of MS and Next is respectively 11% and 15%. Though revenue of both the companies grew over the period, operating profit was steady. However, according to findings Next Group is more profitable than Marks and Spencer. Nexts Return on Capital Employed and Return on Equity are also significantly higher than MS (See Figure 4.3 and 4.4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Based on the above analysis, the research concludes that Next Group is a highly profitable business by providing extra ordinary return to its equity holders. Liquidity Performances Both the companies liquidity is poor scoring far below standard value of 2:1. Marks and Spencers liquidity is at an alarming level of around 50% capability of paying off its current liabilities. Also, over the year none of the retailers could improve liquidity performance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.3.4 Efficiency Although in profitability and liquidity M S is lagging behind Next, in case of efficiency in receivables, payables and inventory management MS had been showing excellent dexterity. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . The ratios (Figure 4.6) indicate that, inventories are sold in 23 days by MS and in 40 days by Next after purchase. On the other hand, MS is capable of collecting its receivable assets within eleven days of sales which Next can do in 67 days. Payable days are matched with receivable days. However, though MSs collection from customers is faster, its payment frequency to suppliers is a little slow. This might a sign of efficiency in working capital management. The reason behind MSs extra ordinary efficiency is because of its long experience in British industry. Average Asset Turnover Ratio of MS over the last fours years is below 1.5 which is above 2.0 for Next. The ratio indicates that MS can generate sales of around  £1.34 against  £1 of its assets which, though is not poor, in comparison to Next is pretty ordinary. 3.3.5 Leverage Performances Leverage indicates the use of debt in boosting of equity return. Both Marks and Spencer and Next Group use debt which is reflected in their gearing ratios (See Table 4.7). .From Figure 4.8 it can be easily understood that Next Group a highly geared company in comparison to Marks and Spencer. MSs policy seems to be keeping long-term debt less than 50% in its balance sheet. The leverage ratio better explains why Nexts Return on Equity is very high. Now question is are the companys comfortable with these levels of leverage? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . In managing its leverage MS is again performing poorer than Next. While Nexts average interest cover ratio is 13.45 times, MSs one is only around 6 times. The figures indicate that, MS generate only around  £6 of operating profit for paying  £1 of debt cost. Therefore the leverage ratios indicate that MSs competitor is better managing its leverage with higher interest coverage ratio against higher leverage rate. 3.4 MS Summary of Business and Financial Performance Business Performance Summary Financial Performance Summary Marks Spencers revenue has grown at a steady rate over last three years Introduced various successful brands that meet the changing social pattern and consumer demand. Ecommerce sales have increased at a sizable chunk in last few years. Successfully used consumer research technologies for identifying market demands and customer needs. Most energy conscious and environmentally friendly company in British history. Grew its market share by 4% from 7% to 11% in cloth and general merchandise. Market share has also improved by 2% in 2010 in foods. MS could not maintain its image regarding its relationships with suppliers. International revenue was more than  £900 million with a growth of 5%. The company also have capitalised on ecommerce technology; in 2010 MS Directs revenue grew by 27%. Average operating profit margin is 11% in comparison to 15% of Next; Liquidity performance is very poor; Both current and quick ratios are less than 0.5; Average asset turnover rate is more than 1 in comparison to 1.5 of Next; Inventory, receivables and payables management is highly efficient and better than Next; Moderately levered company while Next is a highly levered one; Interest coverage ratio is healthy; but Next is doing better which shows the rationale behind using more debt by Next Overall financial performance of MS is not satisfactory against its competitor. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Table 4.9: Performance Summary Chapter 5 Conclusion Recommendations 5.1 Introduction In previous section, it has been observed that Marks and Spencers financial performance is not satisfactory in comparison to Next Group. Except the efficiency areas, MS needs to improve itself in profitability, liquidity and leverage. 5.2 Improving Profitability MSs average operating profit margin was only around 11%. It is found that though companys revenue has grown in last three years its profit margin shrank because of increase costs. Marks and Spencer needs to cut its operating costs to match its profitability with the industry. 5.3 Improving Liquidity The companys liquidity is below the alert level which had been persistent over last four years. Although for very large and established companys it is not a big concern. However, in times

The Role of Mexican-American Border Relations in the Political Process

The Role of Mexican-American Border Relations in the Political Process Throughout the 1990’s up until the present, Mexican-American political relations have been very inconsistent in their endeavors to define what the relationship should and will be between the two different countries. The massive influx of Mexican immigrants has commanded attention from the governments of both countries. This has resulted in attempts to make a working partnership acknowledging the fact that the peoples of Mexican decent have grown into the largest minority group in the United States and there are many issues to be hammered out by both countries in establishing just economic and political relations. However this effort has encountered many setbacks and questions of dedication to a working relationship between Mexico and the United States both in the past and currently. Politicians who once jumped on the bandwagon of demonizing Mexican Americans are now fronting to be their closest allies and representatives in order to gain there votes in reelection. Who were once a people solely confined to the lowest of economic class and labor, are slowly working their ways into the higher classes and employment opportunities. Conservative citizens prejudiced attitudes towards Mexicans is balanced out by liberal populations as well. While poor economic times and difficulty in finding employment tend to point fingers at populations like the Mexican immigrants, there is still a need for the cheap labor in the fields and factories to keep production moving. The list of contradictions goes on and on and this complex issue will remain one for years. The goal of this paper is to address Mexican-American relations of the past and the present, and to pr... ...beth. Making Labor Flexible: The Recomposition of Tijuana's Maquiladora Female Labor Force. Feminist Economics 6, no. 3 (2000), 59-79. Global Exchange. Maquiladoras: Sweatshops by any other name. http://www.globalexchange.org/education/california/DayOfTheDead/maqui ladoras .html Guskind, Robert. â€Å"Border Backlash.† National Journal 4 June 1994: 1296-1299. Muller, Henry. â€Å"There is a Limit to What We Call Absorbant.† Time 18 Nov. 1991: 54-63 Natives: Immigrant Bashing on the Border. Film â€Å"Powell says U.S. eager for immigration agreement with Mexico† (Cnn.com) 30 May 2003. Rodriquez, Cindy. â€Å"Tamales no substitute for a place on podium.† Globe. 12 August, 2000.

Representation of Love and Marriage in Pride and Prejudice Essay

Although love is considered significant in the world we live in now, it was not the case in the 18th century- Austen’s time. As time progressed, so did education, fashion styles, medical practises and most importantly social constructs and values. Love and marriage in Austen’s century, though it had some similarities, it was considerably different. Pride and Prejudice, a romance novel by Jane Austen, first published in 1813 depicts the manner of marriage and love in the Regency era. It is a story of transformation, in which the protagonist, Elizabeth Bennet and her counterpart change to believe that love does transcend all things. The novel delves into the passion and excitement of love, but also the detachment that exists between loveless couples. Marriage in Austen’s time can be described as a business transaction. For the women, the man’s income was all they could depend on. And usually for men, the women’s dowry or ‘portion’ would be taken under consideration. In Pride and Prejudice, the marriage between Wickham and Lydia was purely based on money, and perhaps Lydia’s foolish adoration towards Wickham. Wickham married Lydia for the money, which he lacked. Before their matrimony Mr Gardiner stated in a letter â€Å"They are not married, nor can I find any intention of being so,† however after there was a discussion between Darcy, Wickham and Mr Gardiner regarding the ‘payment’ behind their marriage Wickham was more than ready to marry Lydia. Mr Darcy was willing to pay off all Wickham’s debts and give them another thousand pounds if Wickham was to marry Lydia, and Wickham would only marry Lydia if those conditions were provided to him- this is a marriage com pletely based on a monetary deal. Furthermore, the narrator says, â€Å"Wickham still cherished the hope of more effectually making his fortune through marriage.† This clearly shows that not only women, but men also gained financial means from marriage. Another example in the text where marriage is represented as a business deal is when Colonel Fitzwilliam states, â€Å"there are not many in my rank of life who can afford to marry without some attention to money.† Austen uses dialogue, to reinforce the fact that marriage is money and the bluntness of Austen’s choice of words results in the reader of the modern era to be strongly opposed to what marriage use to be. The novel represents marriage as a business trade, shown by the relationship between Wickham and Lydia. Each gains wealth from the other, and not care, trust or love- the morals of a marriage in today’s society. Men looked for women who had many ‘accomplishments,’ not necessarily if they loved them, or if they were intelligent or had good personalities. â€Å"A woman must have a thorough knowledge of music, singing, dancing, drawing, and the modern languages†¦,† stated Caroline Bingley. Not only accomplishments were to be perfected, men looked for beauty as well. In the case of Mr Bennet, he followed the social trend where he married based on appearances and accomplishments. Mrs Bennet was a beauty, however she turned out to be a frivolous, foolish and oblivious character, resulting in an inharmonious marriage. A woman in a marriage was about presentation, to be beautiful and accomplished- to not embarrass the husband. Therefore men did not search for their soul mate, but rather a woman who was presentable. Not only did Mr Bennet marry to a beauty, it is also the case for Mr Bingley who loved Jane for her beauty. Austen represents marriage to be decided on by a woman ’s charm and accomplishments, in order to win a man’s heart a woman had to be talented in all the art forms. To be accomplished was a vital requirement for women. Marriage for women is represented as their ultimate goal in life, because it was impossible to live independently- especially the women who belonged to the genteel class. Genteel women were not allowed to pursue professional careers or university degrees. The only accepted occupation was to be a governess, however they were not highly respected. Consequently, women depended on marriage to have money of which men would be the one who provided it. Charlotte Lucas did not, â€Å"think highly either of men or of matrimony, marriage had always been her object†¦Ã¢â‚¬  and that was the reason for her to marry the pompous Mr Collins. Charlotte did not love Mr Collins, she was twenty-seven and still dependent on her family- the only goal she had was to be married, and she was desperate. For women to be dependent on family was something to be ashamed of and the only way to escape out of under the protection of family was to marry. Using characterisation, Austen represents marriage as the most important event, the only respectable option for women. Marriage was a must for those living in the regency era, unlike today, where living independently is accepted and even encouraged. Not only was marriage from the Regency era different from today, so was the concept of love. Love was not sought for in Austen’s time, rather it would just be convenient if you were really in love with your fiancà ©. Pride and Prejudice represents love as an unnecessary asset in a relationship. It is not required to love someone, in order to be with him or her and even be married with them. In the case of Charlotte and Mr Collins, love was not apparent. After Charlotte accepted Mr Collins’ proposal, the narrator states that, â€Å"his attachment to her must be imaginary.† Charlotte did not love Mr Collins, but accepted his hand in order to obtain a comfortable home. She was not looking for love to be happy, she wanted social security, which could be provided by the clergyman. Charlotte’s view on love represented society’s view, which is that love is not a vital component of marriage, but rather gaining financial security. The absence of love within a marriage was acceptable. Another type of love was radical, new, true. Mr Darcy and Elizabeth represented true love, though it was formed from misunderstanding and disagreeable first impressions. Love grew despite the differences; Austen’s protagonists are in true love, the type of love where they can conquer all things. Elizabeth, â€Å"†¦with tears in her eyes [replied], ‘I love him,’† though her pride influenced her to misjudge Mr Darcy she overcame her wall of prejudice and was deeply in love him. Similarly with Mr Darcy, he disregarded his embarrassment and preconceptions and confessed his love for Elizabeth. Austen composed the two central characters to fall in true love, implying the idea that true love is the better and more rewarding. Elizabeth did not totally conform to the social constructs, she was self-reliant and romantic- she wanted love, unlike Charlotte who wanted a comfortable life. And because she did not follow the ways of conduct books, she was rewarded with true love. Though the two characters were deeply in love, they were not hopelessly in love, another radical aspect of the relationship between Darcy and Elizabeth. Mr Darcy confessed to Elizabeth that he,† ardently admire and love you [Elizabeth].† He uses the word ‘admire,’ showing that there is respect and equality between the two, Mr Darcy did not love Elizabeth only on her appearances but of her ‘impertinence’ and ‘liveliness of your mind.’ Love, in Elizabeth and Mr Darcy’s case is represented as the first step towards eternal happiness, it is the ideal marriage with a balance of emotion and rationality. Both the social and radical perspectives of marriage and love were represented in Austen’s Pride and Prejudice. Through Jane and Bingley, Charlotte and Collins and Lydia and Wickham the social standard of marriage is presented. And through Elizabeth and Darcy, a new outlook of marriage and love was formed. Today’s society revolves around love, but in Austen’s time finding marriage was far more crucial. Jane Austen renews the ideas of love and marriage and re-presents them by moulding them with her values. Though she writes in the romance genre, she ventures away at times to create her idealistic true love. In conclusion, marriage is represented as a business transaction, love may be thoughtless but to find true love is to fall in love with ones personality and not only their appearances. Austen believes that marriage is based on the strong foundation of true love and intellectual unity within the marriage.

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Exhibits: Use of professionally prepared exhibits (such as charts and tables) may be necessary, not only to comply with the length requirement, but also to enhance the succinct presentation of your team's response. An exhibit must be â€Å"labeled† and briefly explained in the body of your team's response – what is its relevance? An exhibit is typically one (1) page. 3. References: Your team must include four (4) credible references (not including the textbook) err assignment to add validity to your answers. Your textbook does not count as a reference.You should avoid Internet sources, except certain government or association sites (e. G. , OSHA). Use the Troy library online to conduct your research. Identify references based on PAP Style. Endnotes and Web sites are included in your textbook. Supplementary Readings are posted in the Assignments area of Blackboard. Attachment 2: Preparation of TAB (continued) 4. Evaluation: TAB assignments will be evaluated based on the following criteria. Content (65%): Integration of appropriate, relevant course concepts; quality of analysis; focusing on specifics, not generalities; and thoroughness (pertains to scope and depth of coverage).Organization (20%): Use of these guidelines, applicable section headings, and relevant exhibits; inclusion of relevant research; and flow. Professionalism (1 5%): Demonstrated evidence of the 3 AS: Adequate preparation, pride of workmanship, and proficiency in the use of good communication skills – writing style and comprehensibility (grammar and punctuation). Reposes must be concise, incisive, and literate. Rubric: A Rubric, based on the above criteria, will be utilized to grade the TAB assignments. Attach

buy custom Psychic-Mystical Aspects of Metaphysics essay

buy custom Psychic-Mystical Aspects of Metaphysics essay Chapter 1: Introduction Metaphysics is aimed towards explaining the fundamental concepts of existence and the universe. Metaphysics originates from Aristotles philosophies (Loux, 2006, p. 5). However, the first philosopher of Metaphysics known till date is Thales of Miletus. He taught that everything originates from one single cause (termed as Arche). In metaphysics we address questions regarding the purpose of existence and various ways in which life and university could exist. Metaphysics helps us to understand our position in the universe. Metaphysics defines universe as a totality of the possibilities which can be repetitive. If we add these possibilities then we can derive the basic laws of universe. Mysticism is a phenomenon filled with subtle shades, both linguistic and metaphysical. Mysticism deals with consciousness that is beyond the stratum of normal human perceptions. It includes both experiences and divine union with the ultimate being. Mysticism originated from the mystikos (Louth, 2007, p. 204). The mystikos were considered to be those practicing the mystery religion. Their cult involved yearly ceremonies of goddesses Persephone and Demeter. These ceremonies were conducted secretly near Athens in ancient Greece. The mystikos date back to the Mycenaean period - around 1600 B.C. It was persistent for two thousand years. During the Hellenic era, these annual ceremonies shaped up as a key carnival and extended till ancient Rome (Louth, 2007, p. 204). Mysticism is a concept that cannot be expressed or bounded by definitions. However the explanation of mysticism has taken various literary forms which we will cover in details in the fourth chapter. Psychic is an individual competent in reception and extraction of information via mental sensory receptors. The word Psychic was coined by Fredrick Myers. He was the president and founder of the Society for Psychical Research. This term was later adopted by J.B. Rhine, who is a psychologist in Duke University. Clairaudience, Telepathy, Clairvoyance, etc are examples of some psychic abilities. The term psychic originated from the Greek word psychikos which means mental or related to the mind. A French astronomer named Camille Flammario is known to have first used the term psychic. Speculations and arguments regarding the source of psychic abilities or the reasons for the same have varied theories. As per empirical data and scientific research we use only 10% of our brain. Our brain has two compartments. The left side can be considered as the logical side, which is accountable for producing rational thought. Again it is said that the right hand side of our brain is active for creative effort, thus it is known as the creative or imaginative side- it is accountable for imaginative thoughts and intuition. Primarily, the left side of our brain is used more compared to the right. If we know the technique to balance these two sides then a pathway to ninety percent part of the brain opens up, that we generally dont use. This is the component of our brain capable of psychic and self healing activities, if used in a proper manner. In this thesis, we will discuss about the various philosophies related to the mystical and psychic aspects of metaphysics. We will begin with the literature review on western philosophies and eastern philosophies. Chapter 2: Review of Literature Western Philosophies on Metaphysics Aristotle The foremost significant work in philosophy was done by Aristotle. The main topic of this work was understanding being qua being. A common fallacy is the thinking that here Aristotle is talking about one subject being qua being - which is under investigation. However, instead of two objects i.e. study and subject matter, Aristotles description indicates towards three objects- subject matter, study and the manner of conducting the study (Furth Aristotle, 1985, p. 27). Thus being qua being is about observing and learning about the beings and the objects that study these beings in a meticulous manner. It is the art of understanding and affirming on something- simply on the basis of its existence. The fundamental question of metaphysics is defining ousia or substance (Furth Aristotle, 1985, p. 33). In the book Metaphysics A.1 Aristotle said that wisdom is about the cause-effect principles of matter. Therefore these causes and principles are the areas to be researched upon to answer the primary question of metaphysics. This is what Aristotle termed as first philosophy. In his book Aristotle says that first philosophy is concerned with PNC (the principal of non contradiction). The first philosophy principles appear academic, hypothetical and remote from the genre of ordinary experience. But according to Aristotle such principles can be researched by someone, who has researched natures laws and principles. Physics is a field which involves understanding Natures laws and principles via experimentation. Thus, Aristotle has rightly termed that the focus area of first philosophy as coming after the Physics. But the study of beings in metaphysics differs from subjects like Natural Science or Mathematics from the perspective angle. Mathematics studies beings as quantifiable entities and Natural Science observes beings as entities involved in Natures laws. However, Metaphysics first enquires the cause behind the existence and survival of beings. While defining being and its existence, Aristotle said that the faculty of sensation is present in all beings, however only in case of some, this sensation acts as a generator of memory. Memory is the key driver in the learning process. Therefore, those having the power of memory are better learners and are termed more intelligent than others. Memory and sensation together helps animals to learn. However, there is more important than plain learning that human beings express. This is what Aristotle termed as connected experience (Furth Aristotle, 1985, p. 47). Categories, is Aristotles work on logic that directs the manner of making a proposition and inferring from the same. Aristotle divided all beings into ten categories and determines the first category i.e. substance (ousia) as most important. Thus, the books , , and of Aristotle deal with the study of substance. In his book .2 Aristotle says that beings can be termed as substances only in their key sense and to non-substantial categories in secondary sense (Bohn Aristotle, 1998, p. 2). However, it is still a topic of argument amongst philosophers regarding non-substantial categories. Aristotle on Psychic In De Anima Aristotle tries to define soul. In the second chapter he defines soul as that, which can be distinguished from another by the property of possessing life. Here he termed the self nutrition capability of plants as the only psychic power it possesses. He terms mind as eternal, because of its capability of solitary functioning- which differs itself from all other psychic powers. Aristotle defines psychic states in human as the states that are causally relevant to teleological explanation of the organisms movements. Eastern Philosophies on Metaphysics The eastern world philosophy concentrates on the unity of all living entities and the energy flow connecting them. Therefore the concept of every living entity being connected to another is the main essence of Eastern Philosophy. In this section we are going to discuss Taoism, Buddhism and Hinduism in context of metaphysics. The Tao Philosophies Taoism was introduced as the State religion of China in 440 B.C. by Lao Tzu. Taoism believed in a life that balanced with nature and this balance is the key to a prosperous life. The word Tao means a force that interconnects all lives or living beings. The principles or the mechanism of this connection was, however, unknown to ancient Tao philosophers(Tao Longevity, 2004). Taoism defines the psychic powers as the key to augment the vital energy that is flowing through the cosmos- interconnecting all living beings. A practice in Taoism- known as SunDo directs individuals to enhance their vital energy by practicing lower abdominal breathing. This is also known as Taoist alchemy or metaphysics(Tao Longevity, 2004). Taoism believes that the energy from the third eye sustains the vitalities like awareness and mental attentiveness. The navel chakra radiates essence which is symbolic of physical fitness. Finally the heart chakra represents the source of energy that is emanated from the spir its of every living human. Complete development of these three qualities leads to enhancement of psychic powers (understanding of self and the surroundings). The Vedic Philosophies Vedas are the sacred texts of Aryans. The Vedic metaphysics believes in harmony that allows fusion of contrasting social values. Thus the Vedic prayer to the supreme creator is OM Shanti Shanti Shanti requesting the Lord to create and maintain peace all around (Sabhlok, 2011, p. 21). Around 8000 hymns in Vedas relate to metaphysics (Kapoor, p. 236). Vedic metaphysics defines weakness a consequence of desire for material pleasure, sensual pleasure and other psychic conditions. The remedy for such weakness in Vedic metaphysics is defined as Vidya or knowledge (Sabhlok, 2011, p. 25). The psi phenomenon in Vedic metaphysics is defined as the connection via a medium that is related to awareness or intellect (buddhi) and thought process (chinta) rather than senses and body (Sabhlok, 2011, p. 18). The divine instruments for enhancement of psychic power in Vedas have been identified as: mind (manas), spirit (jiva), soul (atma), pride (ahamkar), intellect (buddhi). The Nirguna Brahma is the supreme reality in the Vedas. The Vedic God has been termed as non describable. According to Sankrachrya- words recoil before him. He is beyond any categorisation and is the ultimate reality. The Vedas term corruption as the root for social destruction and cause of destruction of peace or shanti. History shows that the Roman Empire which was built upon conquered wealth got destroyed because of the materialism and corruption. Same was the story of the Indian Nanda dynasty (Kapoor, 2002, p.323). It was more important to remove corruption than build a mighty army in order to sustain an empire. Donations and presents are considered to be a form of corruption. However the Vedas say that any gift or amount given as charity, solely for the purpose of giving and with no other hidden intentions are Sattavic gifts and should not be termed as any form of corruption. These are seen in the Vedas as a divine gift from the Almighty. According to the Vedas charitable acts helps to purify ones soul. A question in Metaphysics is that Is the world reality or illusion? According to the Shuniya Vadins, the entire universe is void (Shunya), just like most part of an atom and only the spirit of the divine Lord reside there (Sabhlok, 2011, p. 160). Vedas also reflect on the power of Nature. Mankind grows up with Prakiriti and therefore is much familiar to Mother Nature and her boons as well as her wrath (Sabhlok, 2011, p. 4). In Rig Veda Nature has been described as Prakriti and in Yadur Veda as immortal mother. Earth is described as the kind and extremely tolerant Prithvi Devi. Nature is also described as the material cause or Matar in the Vedas that came in contact with Pitar (father in heaven). According to Bhagwat Gita- Nature is the foundation for determination of all causes, effects and agents (Sabhlok, 2011, p. 4). The Vedas defines consciousness as the key to identify reality. The Veda defines psychic healing or psycho kinesis as a result of self consciousness (Atman). It defines telepathy and the phenomenon of precognition as the sensory organs of Atman or eyes and hands of the soul. The psi phenomenon is basically defined in the Vedas as sensory reception by our soul, rather than our body. According to the Vedas- this psychic level is where we experience inner consciousness and have minimum level of awareness. In yogic philosophy, persons achieving such level of consciousness are termed as Siddhis. The Buddhist Philosophies Buddhism dates back to 6th century BC. Unlike other religions Buddhism is concerned with life more than afterlife. It guides us and tells us about how we should spend our life. Buddhism directs four noble truths. Buddhism says that suffering of mankind can be ended by following the eight fold path. Metaphysics of Buddhism depends on the basic principle that although the world exists, it is not permanent. Therefore the sufferings endured by the beings in the world are also not permanent. Buddhist phlosophy has two divisions- Hinayana and Mahayana. Mahayana is based on idealistic metaphysics and Hinayana is based on realistic metaphysics. Another name foe Hinayana is Theravada. Its metaphysical basis is ontology. In Theravada the world is compared to the peeling of an onion. Every entity depends on another, thus a single entity cannot be independent and therefore cannot be real. Therefore we can understand that the world is not permanent in this case. But in order to free ourselves fro m suffering we should spiritually understand the transitional reality. This will help us to lead a life with minimal suffering. In case of Mahayana, individual consciousness is considered to be independent from the world. Mahayana has three schools of thought: Yogachara, Sautantrika and Madhyamaika. Yogachara defines world as an abstract reality. It considers the world as unreal because of its non existence. It recognises only the existence of consciousness. This solitary state of existence is termed as Nirvana in the Yogachara school of thought. The Madhyamaika philosophy denies the existence of world just like Yogachara. However, in this case the existence of I or consciousness is analysed and scrutinised. Such scrutiny reveals that consciousness is inter wound with the world and cannot exist independently. Thus it denies both the world and consciousness or I. According to Sautantrika school of thought, the existence of world is based on our inference or our senses. Thus existence of the world is dependent on our collective consciousness. Chapter 3: Findings Physics and Metaphysics The interrelationship between different types of energies is an area of limitation of Quantum mechanics. Quantum theory assumes energy is transferred in packets- as light or as it is scientifically termed-photon particle. But atomic ultra structure has revealed that neutrinos are of two types and are also in photonic or energy packet form. This assumption is the reason of limitation of Quantum Mechanics, since all energies are not in packet forms. The wave particle duality concept or the uncertainty principle explains not only movements of matter but also forms of time itself. It considers not only the three dimensions, but also the fourth and the fifth dimension that vibrate like the three dimensions. In fact, these vibrations are responsible for the two forms of energy and gravity fields that generate the magnetic and light field. This is a significant property in to be considered in order to analyse the movement of pure energy- whether it is in packet form or not. The question: can a thing be justifiably considered strictly as a particle, or a wave, is addressed in the uncertainty principle. If one insists that a thing is a particle, then we should be able to determine quantitatively its fundamental properties like momentum or position which are inseparably associated with particles. Such measurements though extremely simple with macroscopic bodies (e.g. the planets, a football, a tennis ball, etc.), would be extremely difficult, if not impossible, in the case of very small particle like the electron. It is so, because the electron is too small to be seen directly and hence it can be observed only indirectly by perturbing it with an outside agency like an electric or magnetic field or a light photon. But, exposure of the electron to any such force will at once change its position or velocity (and hence its momentum). Heisenberg expressed this situation by stating that, the more accurately the position of a particle like the electron is defined , less accurately its velocity is known and vice versa. This principle was propounded by Heisenberg. The principle can be also expressed as It is impossible to measure simultaneously the exact velocity and the exact position of a small particle like the electron. If x represents the uncertainty in defining the position, and the uncertainty in defining the velocity is expressed as v, the mathematical expression for the uncertainty principle takes the form: , where h= Plancks constant, whose value is 6.62410-27 erg-sec. This equation implies that it is impossible to know simultaneously the velocity as well as the position of a small particle likes the electron accurately, which is the alternative statement of the uncertainty principle which has been already pointed out. The classical atomic model, which incorporates the concept of the electron moving in a definite orbit, where both its position and velocity (and hence, momentum) are exactly known, must be replaced, because it is in contradiction to the fundamental scientific principle - the uncertainty principle. Therefore, the wave-mechanical atom, expressing the position and velocity in terms of probability, is a logical and inevitable outcome which led to the concept of atomic orbital. The Uncertainty Principle helps in the understanding the reason behind the nature of organisation of this universe. The organisation of the universe in its present form is because of the fact that it could not have been organised in any other form considering the physical laws of existence. Other than the Uncertainty Principle, the concept of relativity in 21st century physics does not take into consideration all forms of energy that travels at a faster rate than that of light energy. Mainly the concepts of two different movements of time, the two different forms of gravity and instantaneous transfer of energy into actual space dimensions have been missed. The time differences in fourth and fifth dimensions were not accounted in the concept of relativity. Thirdly, we come to the String Theory. The String Theory failed to understand matter energy relationship and its explanation required 26 dimensions, whereas it could have been done in 5 dimensions. The fact that it cannot be proved or rejected on the basis of experimentation shows that some element is missing. The Quark Theory is also incomplete because it tries to fit in Nature. But quarks have not been observed in nature and there is much to doubt regarding their true existence. Particle physics has failed to understand that matter affects other matters as well as itself in the universe. This is why many of the fundamental particles in physics appear to have been created. The concept of virtual particles is foggy in the sense that if they are capable of creating magnetic field, then it is unlikely that they will remain undetected. Besides, virtual particles should travel exactly equal to the speed of light in order to retain their theoretical properties. To this date, physics or any other domain of science has failed to define God or at least explain the concept. Metaphysics defines God as the sum of energy, space and matter. Physics has failed to explain the reason for energy being perpetual. Metaphysics says that energy cannot be created or destroyed because energy is basically the vibrations of the dimensions of space. Metaphysics also defines space as indivisible. The energy in parts of space is due to the energy difference in itself. Space is a form of energy. This has been discussed in details in the following section. Psychic Powers and Energy In order to understand the energy involved in psychic abilities or psi, we first need to discuss the different forms of energy known to us in the universe. Time Speed of time depends on the reference of the observer to the speed of light. The simplest definition of energy is the kinetic energy of an object measured with respect to a reference frame. Thus fundamental energy is explained in terms of frame of reference. To reach the reference frame of comparatively faster object energy is required. And time is distorted in such kinetic energy fields and is affected by the uncertainty principle. Time can be considered as a scaffold in which energy is transferred. The movement of sub atomic particles, for e.g. electron from one point in the space to another point via absorption of energy is considered from the point of view of the observed as a jump in space. But there is another theory about the space being curved towards an object a fundamental property that makes the object instantaneously skip trillions of minuscule steps in space. Metaphysical scholars describe this as an illusion due to the difference in times rate. Time passes at different rates depending on the speed of the observers reference frame with respect to time. When the speed of the observers reference frame is close to the speed of light, then time runs slow. And when the observers speed of reference frame is minimal compared to the speed of light- then time runs fast(Reynolds, 2002, p. 188). Therefore if the speed of the observer becomes equal to the speed of light, then these differences are eliminated, and the object travelling at light speed can move through space instantaneously. Gravity The gravitational field of an accelerating object is the second most complicated form of energy. Energy is added or absorbed from the object or from the dimensions of space. There is a second type of gravity that leads to the space being wrapped around the object- leading to the formation of the fifth dimension. Magnetic Field It has been mathematically proved that magnetic field is a form of energy. However, scholars or metaphysics suggest there is a connection between gravity and magnetic field since its source is from the structure of matter and it itself is an extension of matter. Strong Field and Weak Field The weak field is a trillion times weaker than the magnetic force and is actually a by product of the strong force. The strong field is exactly opposite of magnetic energy. In this case the instantaneous speed of an object is directly proportional to its mass. Heat Matter is in pervasive motion. This motion is the fuel for the energy of matter. The acceleration of a matter is because of absorption of energy. And time measures such movement; therefore it has been defined in the earlier discussion as a framework for the transmission of energy and not a form of energy itself. (Reynolds, 2002, p. 188) Light The vibration of the dimensions of space- length, thickness and height and is what we know as light energy. The energy in a light particle or photon is directly proportional to the combinations of Plancks constant. Matter Matter can be termed as energy in its solid form. It is not a pure form of energy- since pure form of energy cannot bind with any other form of energy. Matter has instantaneous affect on other matter due to gravity leading to vibration of matter in space. Three Dimensions of Space The three dimensions of space- thickness, length, breadth are a form of energy that generates a magnetic field. Since, in case of magnetic field an area of space has more energy than the adjacent area. This difference in energy is not caused by any movement but due to the holding of energy by these three dimensions of space. Thought Process and Energy Metaphysics suggest that the endeavour of measuring and observing an object radiates or absorbs energy from the substance or space itself. After discussing the above forms of energy, we come to field that deals with the very foundation of psychic abilities or psi. Metaphysical researchers suggest that any idea or thought has some kind of minute effect in the universe. Ideas expressed or unexpressed remain as a form of energy. A hypothesis in this case is that there cant be a concept of generation of new idea- since all ideas exists in this universe in some form or the other. We can conclude by saying that our brain or mind is also a mystical form of energy. Such forms of energy do not travel in particulate or wave form in the space. Matter and Psi The common theory of formation of substance is that the universe initially was made up of electrons and anti electrons. This theory is in disparity to itself because such existence would be preposterous, since the particle and anti-particle would have neutralised each other leaving nothing else but emptiness. Contemporary researchers have found that it is possible to produce matter from pure energy. A carrier matter is required even at the preliminary stage to transmit this energy. Exploring the Psychic Phenomenon The main concept of psychic comes from extrasensory perception. Extrasensory perception iis related to senses that are not common to us or known to us. These are basically sensory transmissions related to the mind. Amongst the early scholars dealing with psychic research J.B Rhine is mentionable. He and his wife tried to establish psychology as a part of empirical science. They used to perform their research experiments in Duke University during the 1930s.The life works of J.B. Rhines was mainly dedicated towards structuring psychical science and defining the terms like Extrasensory Perception, Psi. He also tried to design tests and experiments to assess their validity. Louisa Rhine, on the other hand, was dedicated towards collecting accounts of paranormal or psychic experiences. The development of Zener cards marked a stepping stone towards scientifically assessing extrasensory phenomenon. It is a pack of twenty five cards that bears various symbols like square, circle, cross, wavy lines, and star. These cards are used for experimentation especially in case of telepathy. Generally there are two participants in this kind of experiments. The sender needs to look at the symbols and mentally choose any one of them. And the receiver has to guess which symbol has been chosen. Of course the orders of these cards are always random in case of these experiments, so that no prior technique can be used by the receiver. Clairvoyance can also be tested with the help of these cards. In this experiment only one participant is the subject. The card, in this case, remains hidden. The receiver should guess or determine accurately the location of the cards. Like telepathy, in this experiment also, the cards should be hidden cautiously, so that it is not seen by anybody other th an the person in charge of the experiment. Another type of experiment with the help of these cards is the precognition experiment. In this case the order of the cards is shuffled randomly. Only one subject can participate in this test at a time. The receiver or the subject would need to guess the exact order, after it has been shuffled. Initially these cards were randomly shuffled by hand. Later on machines were used. Following this was the trend of using random number tables. Now-a-days computers are used for such shuffling. The advantage of using extra sensory perception cards is that a statistical measurement can be done to determine that how many hits (or positive results) can be obtained by chance. So the chance factor can be eliminated and the final results would consist of real hits. Psychic Phenomenon- From the ancient civilisations to nineteenth century The origins of fortune telling and divination dates back to several thousand years when, astrology was the most celebrated type of fortune telling. The basis of astrology is the position of celestial body in space. Based on the changes of their position, it is believed that future events can be guessed. Also there were prophets, who claimed to have the abilities like precognition and clairvoyance. Prophets or Astrologers were part of the noble population in the early days. They were priests, advisors, and people belonging to the upper echelons of the society. A legend on precognition and prophets is The Delphic Oracle. The priestess Pythia residing over the oracle is believed to possess prophetic abilities. Michel de Nostredame, popularly known as Nostradamus is believed to have possessed psychic abilities. He was a French apothecary. His prophecies mainly deal with plague, disaster, battles, murders, etc. In the mid nineteenth century, amongst the mentionable development is the advent of modern spiritualism. The basic idea is that spirits or souls can be contacted via mediums. Daniel Dunglas Home is a psychic who became famous during that period mainly because of his levitation qualities and reported communication abilities with the dead. Modern Research and Beliefs In the year 1990 a survey was conducted by the National Academy of Sciences. The survey results showed that only 2% of the respondents believed in the scientific validation of psychic abilities and psychic philosophies. Another 2% of the population asserted to the fact that these phenomenon may occur at certain times (Loux, 2002, p. 56). However, when asked about whether research in this fields should be encouraged or not, maximum respondents (sixty three percent) replied negatively. Twenty two percent of the population believed it should be discouraged and only ten percent of the population believed research in this field should be encouraged. However, in the year 2005, The Gallup Organization conducted a survey in which as many as forty one percent of the respondents said that they believed in extra sensory perception. Among these, thirty one percent believed in telepathy and twenty six percent believed in clairvoyance. Again in the year 2006 researchers Bryan Farha and Gary Stewar d of the Oklahoma City University and University of Central Oklahoma organised an opinion poll amongst 439 college students. The data suggested that the trend of belief in psychic phenomenon was more in senior students and graduates than in fresher. As many as thirty four percent of graduates and thirty one percent of senior college students asserted to the fact that they believe in psychic abilities, however the percentage was only twenty three in case of fresher students. The above data suggests that there has been an uptrend in belief and knowledge of psychic abilities. However, research endeavours in this field are still limited. To explore the mystical area of metaphysics, more research endeavours are required. It should be noted that although the philosophy of metaphysics is unique and different from any other domains of science, research in modern metaphysics has strictly been empirical type. Since the ideology of this subject is different, therefore the methodologies need to be adapted accordingly. Thus the research procedure on human brain should reflect more of a metaphysical angle than empirical angle. Else it cannot be considered under the domain of psychic research. With due reference to the differences in metaphysics and empirical science, it should also be remembered that both the domains seek the answers to the same question the reason of our existence. Thus the motive behind both these domains is the same. Only the nature of reasoning and the method of searching the answers are different. Chapter 4: Discussion Empirical Science vs. Metaphysical Science The meaning of the term empirical is anything that is derived from experimentation and observation. Empirical science is considered with scientific evidence that has been empirically derived. An empirical scientist would move on the basis of some hypothesis. Then the scientist needs to design an experiment which would verify the truth of the hypothesis. Empirical science acts on the basis of logic and evidence. However Metaphysical science is concerned with the mechanism of logic itself. Empirical Science tries to derive evidence from interaction between entities and then concluding the laws governing those entities. However, metaphysical science is concerned with the relationship between all entities. Empirical science assumes, perception as a tool that will guide us to reality. Whereas metaphysical investigates perception itself and accounts it as evidence. Metaphysics is concerned with analysing the nature of reality and distinguishes between what is real and what is not. Interestingly, Empirical science also aims to answer the same questions, but in a different manner. Thus, we must remember that empirical science and metaphysical science are connected to some extent. The Western philosopher, Aristotle was considered as one of the greatest scientists of that time. His methods cannot be distinguished as either science or philosop hy. Modern Understanding of Mysticism In order to understand the modern concept of mysticism, we need to refer to Neo-Platonism and Platonism, because these are the building blocks of modern concept of mysticism. Platonism is defined as Platos philosophy or any other philosophy that is the derivative of Platos philosophy(Underhill, 2003, p. 230). Platonism distinguishes between perceptible and intelligible realism. The central concept in Platonism revolves around the Theory of Forms. The highest form has been defined as the form of good by Book VI of the Republic. The basis of Platonic philosophy is to recognise the ultimate form of good. A derivative of Platonism is Neo-Platonism. Its area of focus is the spiritual as well as the cosmological areas of Platonism. Philosopher Plotinus propounded Neo-Platonism. Modern form of mysticism is basically the divine union with the ultimate being or enlightenment into conscious cognition. It is direct interaction with the divine spirit via extrasensory preceptors. Modern mysticism may be of two types- dualistic and non dualistic. (Underhill, 2003, p. 230) Dualism of mysticism is when there is a distinction between self and the divine being. Non dualism is when that distinction is not there. Many of the world religions have been inspired by Mysticism (for example Buddhism, Christianity, etc). The concept of enlightenment arose from mysticism, where enlightenment means attainment of mysticism (irrespective of faith). Parapsychology- A Psychic Phenomenon The term parapsychology was used by philosopher Max Dessoir in the year 1888. J.B. Rhine replaced the term psychical research in the 1930s and used this term instead. Parapsychology deals with certain alleged mysterious, paranormal or supernatural events like psycho kinesis, precognition, clairvoyance, near death experience, telepathy, apparitional experiences and reincarnation. The term telepathy means transfer of information from one entity to another without the aid of any known sensory or physical interactional channels. The word has been derived from the Greek work tele which means communication and the word pathe, which means hardship or experience. The proper expression for telepathy is thought transference. The term was coined by Fredrick W.H. Myers. However the reality of telepathy has not been yet convincingly established. The results of experiments concerned with telepathy have failed to provide any conclusive evidence so far. Precognition or second eye generally relates to the phenomenon of acquiring knowledge of future phenomenon that cannot be acquired via normal sensory perceptions in the present(Mathew, 2005). This is a type of extra sensory perception. However, the existence of precognition has not been recognised by the scientific community, since it lacks proper evidence. Another aspect is that, till date demonstration of such event has no t been received under controlled environment. Clairvoyance is also a type of extra sensory perception. This is the phenomenon of obtaining information about an individual, place, thing or event via uncommon sensory channels(Mathew, 2005). Telekinesis or Psycho kinesis is the phenomenon of observable influence of mind on any object. Reincarnation relates to the basic idea that soul remains even after our body perishes. Scientists account near death experience as hallucinatory, however paranormal researchers and scholars account them as proof of the existence of afterlife. Chapter 5: Summary and Conclusion Although researchers and philosophers have tried to carry on research to empirically prove psychic phenomenon, according to many critics like Ed J. Gracely, evidence cannot suffice for universal acceptance o psychic phenomenon. The reason is that the probability of this phenomenon is rare and is subject specific. It is still not clear why extra sensory perception abilities are exhibited by only few. This field has been categorised as various critics as pseudoscience. Another point is that for many psychic activities there is a non paranormal explanation. For example magicians like Derren Brown have shown various tricks and techniques the result of which appears similar to popular psychic phenomenon. However, there are psychological explanations to these phenomenons, rather than paranormal ones. Although there are various criticisms on Psychic phenomenon and research on extra sensory perceptions, it has to be taken into account that these are quite unexplored areas of metaphysics in terms of empirical research. And in many cases metaphysics has been able to describe these extra sensory phenomenon and define its mechanism. Any other dimension of science has still not been able to give any conclusive explanation. From the concept of God to the concept of summation of all possibilities, metaphysics gives a conclusive view and reasoning of what is now and what is beyond now. The various eastern and western philosophies as well as the scientific energy theories discussed are directed towards understanding the fundamental questions of metaphysics. Psychic and mysticism is also a part of that fundamental question, since it also a part of the study of substance and the various energy system in this universe connecting beings. Buy custom Psychic-Mystical Aspects of Metaphysics essay

Complexometric Determination of Water Hardness Essays

Complexometric Determination of Water Hardness Essays Complexometric Determination of Water Hardness Paper Complexometric Determination of Water Hardness Paper ABSTRACT The average concentration of CaCO3 obtained was 212 ppm, with a standard deviation of 1 ppt. The results indicate that the unk B tap water can be considered as hard water. INTRODUCTION Hard water is due to metal ions (minerals) that are dissolved in the ground water. These minerals include Ca 2+, Mg2+, Fe3+, SO42-, HCO3-. When this water evaporates or boils, the difficult to dissolve metal salts remain as a scaly residue. Hard water inhibits the effectiveness of soap and detergents. Calcium ions typically make the most significant contribution to water hardness. This is why hardness is measured in terms of mg CaCO3/L of solution. Hardness is also reported in units of parts per million (ppm). Water with a hardness value of 60 ppm is considered â€Å"soft† and water with 200 ppm is considered â€Å"hard. † The purpose of this lab was to determine the water hardness of a sample of unk B tap water. The disodium salt of EDTA was used to determine the concentration of M 2+ metal ion impurities in hard water by a complexometirc titration. EDTA is a versatile chelating agent. A chelating agent is a substance whose molecules can form several bonds to a single metal ion. Chelating agents are multi-dentate ligands. EDTA acts as a chelating agent because each nitrogen and one oxygen from each of the four carboxylic acid groups has an electron pair to , donate (ligand- a substance that binds with a metal ion to form a complex ion) to a metal ion center, making EDTA a hexadentate ligand which forms an octahedral complex. An indicator, Eriochrome Black T enables the detection of when the EDTA has completely chelated the metal impurities. In the presence of a metal cation, Eriochrome Black T forms a pink complex. H2In- represents the anion of the free, solvated indicator, and M2+ represents Mg2+ or Ca2+. H2In-3 (aq) + M2+ (aq) MIn- (aq) + 2H+ (aq) Blue pink As you add EDTA solution from a buret, the metal ions preferentially complex to the EDTA, leaving the indicator solvated: EDTA (aq) + MIn- (aq) + 2H+ (aq) ? H2In- (aq) + MEDTA (aq) pink blue A color change from pink to violet to blue indicates the titration endpoint. Adding an ammonia/ammonium chloride buffer (pH 10) to the mixture prior to titration ensures that the calcium metal ions remain in solution and that the indicator works correctly. Proteins drop off and now chelates with calcium and forms a tetrahedral complex. EXPERIMENTAL First, a 500mL 0. 004M EDTA solution was prepared by weighing out 0. 7232g of Na2EDTA and dissolving it in 500 mL of deionized water. A standard calcium solution was prepared in order to standardize the Na2EDTA solution used in the titration of the unk B water sample with 1. 000g CaCO3/L solution. 3 mL of ammonia/ammonium chloride buffer (pH 10) was added under the fume hood. The ammonia buffer is an inhalation irritant. This solution was stirred for 30 seconds. drops of Eriochrome Black T indicator were added just before titrating. The titration was completed 3 times. The average molarity of disodium EDTA and precision were determined. Table 1. standardization titration EDTA RunVol (mL) 124. 20 224. 00 324. 10 Because EDTA chelates Ca2+ ions in a one-to-one molar ratio: [Na2EDTA] = 10. 00 mL CaCO3 soln x1. 000g CaCO3 x 1 mol CaCO3 x 1 mol Na2EDTA = 0. 004128 24. 20 mL Na2EDTA soln 1L CaCO3s oln 100. 1gCaCO3 1mol CaCO3 0. 004128 + 0. 004163 + 0. 004145 /3 = Average Molarity = 0. 004145M #1 # 2 #3 Estimated Precision(ppt)= |sum of absolute deviation|/3 x 1000 (ppt) [Na2EDTA] mean 1. 7 x 10-5 + 1. 8 x 10-5 + 0/3 = 1. 17 x 10-5/3 x 1000 = 1(ppt) #1 #2 #3 (0. 004145M) Next, an unk water sample – B was titrated with the standardized disodium EDTA solution. 25 mL of the unk B water sample was combined with 20 mL of deionized water. 3 mL of ammonia/ammonium chloride buffer (pH 10) was added and stirred for 30 seconds. Just prior to titrating, 4 drops of Eriochrome Black T indicator was added to the solution and stirred for 30 seconds. The titration was conducted 3 times. The hardness (mg CaCO3/L) of the prepared unk B water sample for each titration was calculated. The average hardness and precision from the three trials were then determined. Table 2. Titration of Unknown water sample B Unknown water sample B RunVol (mL) 112. 75 mL 212. 80 mL 312. 70 mL Water Hardness (ppm) = mg CaCO3 x 1000 = V mL Na2EDTA soln x mol Na2EDTA x 1 mol CaCO3 x 100. 1g CaCO3 1 L CaCO3 soln 25. 00 mL CaCo3 soln L Na2EDTA soln 1mol Na2EDTA 1 mol CaCO3 Run 1 = 210. 7 (ppm) Run 2 = 213. (ppm) Run 3 = 210. 8 (ppm) Average ppm = 212 (ppm) Precision = 2 sum of deviation in hardness (0. 9 + 1. 8 = 0. 8)/3 x 1000 (3) (211. 6 ppm) CONCLUSION The results show an average 212 ppm, with a standard deviation on 1 ppt. General guideline for water hardness classification are 0-60 mg/L of CaCO3 are classified as soft while water with more than 200 mg/L of CaCO3 are classified as hard. Based on the data gathered and calculated, it can be concluded that the unk B water sample is considered hard water. This is within allowable range for the City of Tempe, where the range for hardness is 150 -400 ppm with an average of 168 ppm. The unknown B water sample to slightly higher than the City of Tempe average. Some area of experimental error that may have deviated the obtained values from the â€Å"real† value would be the preparation of the standard solution due to contamination. Inaccurate measurements of reagents would also be a factor. Another possibility would be unsuccessful mixing of standard solution or not titrating the solution within the allotted timeframe.

SAT Homeschool Code for Registration

SAT Homeschool Code for Registration SAT / ACT Prep Online Guides and Tips TheCode The universal SAT Home School Code, needed to register for the SAT and applicable anywhere in the USA, is 970000. When you use this, itmeans that the score results will be sent directly to your home.Using this code simply indicates, for the sake of data gathering, that you are a home schooled student. Home schooled students, on average, score higher on the SAT than their public school counterparts. This code is CollegeBoard's way of tracking the results accurately. Also, the SAT compares you to the local average, but as a home schooled student, you won't provide an accurate representation of the local district scores. However, if you want to, you can use the local high school's code as well. When should you use your local high school's code? You can use your local high school codeas long as you have permission from the high school.This will ensure that your score gets sent and doesn't get lost being sent to your private address, if losing mail is a frequent issue for you.This could be a good option if you live in a hard to reach area. Conversely, this could mean less privacy for you, since the high school officials would be able to view your SAT score. If that bothers you, then it might be better to use the home schooler's code and send the scores directly to your residence. If you're a home schooler registering for the SATs you should check out: Top SAT Day Tipsif you want to improveyour score, with some last few tips! Take a look atHow is the SAT Different from a High School Test?to get a perspective on how and what the SAT tests differs from your average high school testing experience. ReadShould I choose online or classroom SAT Prep?to understand what type of SAT prep you may need. Take a look at our articles about summer SAT prep programs and their benefits and flaws. The Relation Between SAT Scores and Academic Achievementtalks about what the SAT measures, and you can see what implications there would be for you as a homeschooled student. How to Win a National Merit Scholarship! Read this to find out how to rank high in the nation - have the colleges vying for your attention! SAT Accommodations: What they are and how to get them. If you know you need them, its better to prepare to request them months in advance. This can briefly tell you how to do that. Want to improve your SAT score by 240 points?We've written a guide about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:

Hospitality Operations Management Essay Example | Topics and Well Written Essays - 3000 words

Hospitality Operations Management - Essay Example In this regard we have selected tourism as our topic. In our report we would also highlight the reason why we have selected tourism as our core hospitality feature. In our study we will use secondary sources to gather our data and based on the gathered data we will reach our conclusions. Hospitality industry is a well-researched topic, and we have plenty of credible sources which can assist us in better research of the discussion questions. We will start with a brief introduction of hospitality industry and the vast services that are a part of it; further we will also give a brief introduction of tourism industry. After the introduction we will discuss and analyze our core topic and would elaborate on few of the main influential decision in the business development process for the tourism industry and how they can be eliminated to achieve the desired optimal results. We will further substantiate our discussion question with examples of various geographical regions. Once we have elaborated on the issues and discussed the solutions we would conclude our topic with the research analysis and findings. Hospitality industry is field of service industry and includes a large range of customer services such as event management, transportation, tourism and many others. The core concept behind hospitality industry is customer service which is shared by all the sub-segments of the industry. The three core categories of hospitality industry are food and beverages; this is the biggest segment of the industry and takes into account food places from the most expansive to the least (Reynolds, 2014). These also include the sub-chains which are open as facilitation to other units i.e. shopping plaza. The second part of the hospitality industry is accommodation; these include hotels, and other places offering lodging facility. These are the facilities provided by different lodging units. The third and final category of hospitality industry is travel and tourism. These

Race and Gender Essay Example | Topics and Well Written Essays - 750 words - 1

Race and Gender - Essay Example receptionists and clerks Francine (139). Labor market discrimination is the differentiation of the workers based on characteristics such as origin, race and gender. Such factors lack a role in the determination of an individual productivity. For example there are various forms most common being wage discrimination, where the discriminated group is paid less for the same kind of jobs. Another form of discrimination is the employment discrimination where by an individual is excluded from an occupation that is performed by a person with an equal productivity. A general misconception prevails that discrimination is only practiced by the employer. However research has proved that customer discrimination also exists in the market where customers prefer to transact with a certain kind of people. Human capital the concept of human capital recognizes that not all labor is equal and that the quality of employees can be improved in investing in them. Nobel laureate Theodore Schultz believed hum an capital was like any type of capital that could be invested into through formal education, job training, and geographic migration. For example statistics carried out in the US between the years 1970-2007 showed the gender differences in educational attainment. Beginning in high school tends to differ in types of courses taken and chosen specialization. Differences between men and women at the college level are more substantial and persistent Francine (152). Experience-Earnings profile is the assumption that holds that given the traditional division of labor in the family, women anticipate shorter and less and continuous work careers as opposed to men. Hence making them select occupations that require less investments in education and job training than those chosen by their male counterparts. Women tend to spend more hours on house work thus reducing the efforts they may put