The Life And Poetry Of William Buttler Yeats Essays - Abbey Theatre

The Life And Poetry Of William Buttler Yeats On June 13 1865 William Butler Yeats was born in Dublin Ireland. From the start Yeats had artistic influences, due to the fact that his father Jack Butler Yeats was a noted Irish painter. He had no formal education until he was eleven, at that time he started at the Godolphin Grammar School in Hammer*censored*h England and later he enrolled in Erasmus Smith High School in Dublin. Throughout his schooling he was considered disappointing student, his studies were inconsistent, he was prone to day dreaming, and poor at sports. In 1884 Yeats found his way to the Metropolitan School for the Arts, here he met a poet by the name of George Russell. Yeats and Russell sheared the same dreams, visions, and the enthusiasm for them. Russell and Yeats soon founded the Dublin Hermetic Society for the purpose of conducting magical experiments. They promoted their idea that ?whatever great poets had affirmed in there finest moments was the nearest we could come to an authoritative religion and that their mythology and their spirits of wind and water were but literal truth.? This sparked Yeats's interest in the study of the occult. After his experience in the hermetic society he joined the Rosicrucians, Madam H.P. Blavavtsky's Theosophical Society, and MacGregors Mather's Order of the Dawn. Yeats consulted spiritualists frequently and engaged in the ritual of conjuring the Irish Gods. The occult research Yeats made was apparent in his poetry. The occult was a source of images to use in his poems, and evedence of this is in all of his works. In1885 Yeats met John O'Leary an Irish Nationalist and Fenian leader. O'Leary played a large role on getting Yeats's his work first published in The Dublin University Review and directing Yeats's attention to native Irish sources for inspiration. The influence of O'Leary caused Yeats to take up the Irish writer's cause. England was trying to destroy all Irish literature in an attempt to anglicize Ireland through a ban on the Gaelic language. O'Leary's nationalism and opposition to violence impressed many people including Yeats. These views helped shape political views that Yeats would hold for the rest of his life. In 1889Yeats met Maude Gonne, a woman he loved unrequitedly for the rest of his life. Yeats asked Gonne to marry him many times but she always turned him down. Gonne was an Irish patriot and an inspiration to Yeats. Yeats frequently accompanied here to political rallies even though he usually disagreed with her extremist tactics. Their relationship went through a lot including Gonne's short-lived marrige to John McBride. Most of Yeats's poetry is addressed to her. Yeats associated her with Helen of Troy, whose capriciousness led to the destruction of a civilization. In 1986 Yeats became friends with Lady Isabella Augusta Gregory, a nationalist playwright. Together Yeats and Lady Gregory helped to found the Abbey Theater. As the director and dramatist Yeats helped to turn it into a leading theatrical company of the world and a center of the Irish Renaissance. Near the Turn of the century Yeats fought to abandon his old style of writing, at this time his writing became less mystical and symbolic and it became clearer. Yeats eventually got married in 1917, at the age of 52. His wife was Georgie Hyde-Lees, while on their honeymoon she discovered that she had mediumistic abilities. Through automatic writing she could communicate with a visionary realm. In Yeats's later years he became more involved in politics. From 1922 ? 1928 he was a senator for the Irish Free State. In 1923 Yeats received the Nobel Prize for literature, and died on January 18 1939 in Roquebrune France. Yeats was buried in Sligo Ireland. A Drunken Mans Praise of Sobriety Come swish around my pretty punk And keep me dancing still That I may stay a sober man Although I drank my fill. Sobriety is a jewel That I do much adore, And therefore keep dancing Though drunkards lie and snore. O mind your feet, O mind your feet Keep dancing like a wave, And under every dancer A dead man in his grave. No ups no downs, my Pretty, A mermaid not a punk; A drunkard is a dead man And all dead men are drunk. This is a lyrical poem, which

Significance of marketing strategies and public relations of hotel Burj Al-Arab Dubai. The WritePass Journal

Significance of marketing strategies and public relations of hotel Burj Al-Arab Dubai. Abstract: Significance of marketing strategies and public relations of hotel Burj Al-Arab Dubai. Abstract:Chapter 1.1: Introduction:Chapter 1.2: Statement of the problem:Chapter 1.3: Significance of the problem:Chapter 1.4: Purpose:Chapter 1.5: Statement of hypothesis:Chapter 1.6: Limitations:Chapter 2.0: Review of related literature:Chapter 3.0: Description of the research design:Chapter 3.1: Sources of data:Chapter 3.2: Sampling Procedures:Chapter 3.3: Data gathering instruments:Chapter 3.4: Statistical treatment:Chapter 4.0: Data analysis:Chapter 5.0: Major findings:Chapter 5.1: Conclusion:Chapter 5.2: Recommendation for the further investigation:Reference:Related Abstract: The twenty first century has been the age of advance technology, information and communication systems. So, in this age of travel and tourism has been simplified due to the advances in communication technology. The trends related to travel and tourism has increased significantly. Change in attitudes, lifestyle, more holidays taken, appeal of popular destinations and the development in hospitality industry influence people in travel and tourism. Travel and tourism is a leisure activity served by the tourism and hospitality organizations. By encompassing travel and tourism there has been an evolution in the increase in tourism and hospitality organizations in the market. Tourism and hospitality market is getting popularity day by day for its potential. This is why this market is becoming competitive. To survive and prosper in competitive business environment marketers require developing marketing strategies by which they can compete in the market. Tourism and hospitality marketing is b ecoming dynamic and challenging all around the world because of its competition (Briggs, 2001). The tourism and hospitality marketers are moving from traditional marketing practices to innovative marketing practices because of its market demand. Meeting   the customer’s increasing needs and demands require marketers to develop innovative marketing strategies. Marketing people are continuously trying to improve their tourism and hospitality product and services for the customers. Today customers are very much service oriented because they have variety of options to chose the brand. To develop the brand marketers are continuously trying to improve their brand by providing extended services to the customers. The significance of public relation in tourism and hospitality organizations is increasing because of its effectiveness. By building public relations the organizations are moving to the varied approaches of marketing where the marketers are having its benefits. Our researc h will investigate how Burj al Arab a seven star hotel is performing their varied marketing strategy approaches to the competitive business environment. Our research will find out what marketing strategies are effective for the Burj Al Arab as a tourism and hospitality organization. We will analyze the different marketing strategies in tourism and hospitality organization. How Burj Al-Arab is operating their public relation tactics in this market.    Chapter 1.1: Introduction: Tourism and hospitality marketers have tended to expand their market share worldwide by approaching their marketing strategies and efficiency (Tepeci, 2009). Marketing is the process of creating value for the customers. Survival in the market requires brand recognition in the particular market. Burj AL-Arab is a seven star hotel in Dubai (UAE). The very fact is that they have gained brand recognition owing to effective public relation strategy. Tourism and hospitality market is a dynamic market. Because the customers needs and wants are changing. To meet with the changing customer’s needs and wants development of goods and services is an essential requirement. Tourism and hospitality sectors are service oriented market. Customer expects better service as well as satisfaction. But the word ‘satisfaction’ is difficult to perform. The first requirements of customer satisfaction are developing quality products and services. Burj al Arab being a luxury hotel in Dubai h as target customers in tourism and hospitality market and hence satisfaction of this target segment is vital. Normally tourism and hospitality marketers require relationship marketing rather than transactional marketing. Transactional marketing is only buying and selling approach and there is no tendency to build up relationship with the customers. But for sustainable marketing it requires relationship marketing. Relationship marketing creates long-term relationship with the customers. But building relationship with customers is not easy task. When a brand tends to build relationship with its various markets requires some strategic marketing approaches. Brand development or branding is very important for developing relationship with the customers. Different company develops their brand in different way. Burj al-Arab has developed their brand in tourism and hospitality industry as world’s first seven star hotel that provides exquisite service. The product and service quality a dd the additional value to this brand. Successful branding is important in this market as a successful brand acts as a statement for the company to the customer segment. How can a company can develop their brand in this competitive age?. Delivering quality products and service continuously to the market can give brand recognition to the company. Market is always competitive in nature for its rivals. By differentiating the product from the market or form the competitors a marketer can develop their brand. Then brand positioning is significant to get response from the market. Brand positioning is very much effective for the company to harvest form the market. Burj al-Arab has brand positioning in the market. Tourism and hospitality organization target customers are tourists, business people, traveler, event management, sports team and so forth. All of these are customers are the single time customers. They buy products and services again and again. So, organization can build relations hip marketing with this customer so that they buy the product and services from this brand customer loyalty is an important asset for the brand (Kapferer, 2008).Customer loyalty provides the brand loyal customers. Loyal customers are asset for the company because these customers can create many more customers for the company. It is not easy to create loyal customers. It requires reliability and creditability in the market. Why people will buy products and services from the same brand? Why customer will remain loyal to the brand? Is it the ability to trust? .Customers expect guarantee of their sacrifice (Price). Customer is the king in the market it should provide value to the customers needs and wants. Customer’s expectation is more now in the market. Marketers will have to meet with customer’s expectation. A strong brand is a promise to the customers. Burj al-Arab is a brand that promises to deliver high quality product and services to its target market. By doing this continuously they can develop a brand. Brand creates a faith to the mind of customers than the brand is providing a solution to the problem positively. To have a positive image over the market marketers can provide more than customer’s expectation. A delighted customer will act as the brand ambassador to the brand. Marketers can target the customer’s heart and mind to win over them and will provide positive emotional bonding which will develop a mutual beneficial relationship focusing on trust, good understanding and support. These marketers can develop a strong brand in the competitive market environment. To perform these activities marketers may require sufficient market research activities to know what customer wants. Why they want?   when they want? And how they want? A good solution of this question will provide marketers to reach the customer’s emerging demand to provide satisfaction. Public relation (PR) revolves around this world, people act based on their perception of facts (Wilcox, 2003). Public relation is one of the promotional strategies. It is not like advertisement. Public relation is very strong tools of communication in the competitive market especially in tourism and hospitality firm. Our organization Burj al-Arab is a big organization in hospitality market. Such an organization has huge opportunity of performing public relations activities by which they can enhance their marketing network and public image in the market. Normally public relation creates awareness to the mass market to the brand. Today customers face so many brands in the market. This is why they can forget any brand. So, public relation is very much effective tool to create special awareness to the customers by focusing positive side of the organization. Public relation is more effective in terms of its cost and benefits (Raja, 2004). Public relations provide an improved understanding in the market between marketers and customers. Competition is increasing day by day. To face the increased competition public relation provides the awareness to the company’s actual and potential market. Today marketers are also focusing on network and relationship marketing strategy. Relationship marketing strategy is very much significant in tourism and hospitality market because the customers of this market are repeated. A business man frequently comes to London for his business purpose. So, the relationship marketing is effective in this market. Relationship marketing can create a customer network.. Better product and better service will keep remain customer loyal to the brand. Then a satisfied customer can create more customers through the network. Only marketers require maintaining regular communication with the customers. Due to increased competition, marketers are shifting to strategic customer relations. Strategic customer relation increases customer’s loyalty to the brand. To meet with customers unlimited needs and demands marketers develop various products and services while marketers launch any new product or services than marketer conduct viral and guerilla market ing activities. Viral marketing is done to generate huge amount of buzz and brand awareness to the customers. For example launching a new package tour product or introducing any new service Burj al-Arab can conduct viral marketing campaign for high public awareness in the market. On the other hand guerilla marketing is an unconventional marketing promotion activity. These marketing activities are not for any target customers. Guerilla marketing may be any public space, where people have crowded to spread the information. Marketing activities have become more speedy and effective since last decades because of internet availability and accessibility. E-marketing has solved various marketing problems. Now tourism and hospitality operators can invite guests through e-marketing or electronic marketing technology. Chapter 1.2: Statement of the problem: Significance of marketing activities and public relations of hotel Burj Al-Arab. Chapter 1.3: Significance of the problem: Any products or services can’t move to its customers without marketing activities. Burj al-Arab is renowned brand in hospitality market around the world. They have a target customer and market segmentation strategy. But it is also important to inform the target customers about their offerings in the market. In previous time marketers would think that advertising and other marketing activities are waste of money. However times have changed. Now we are living in global village where information is very important to reach the customer’s door. In this global age tourism and hospitality market is very much competitive because of free market economy, information super high way, faster communication. Tourism and hospitality is becoming growth factor of economy in many countries. Different countries are developing their tourism and hospitality product and services. So, the competition is increasing among the continent. In these circumstances customers are also facing variety of brands. Customer’s expectations have increased due to brand overcrowding. So, to develop the brand in the market, marketers are developing their strategy to capture their customers. To have the loyal customer’s marketers need to improve their service. The relationship marketing and public relations have become significant to the both marketers and to the customers. So, our study will verify to learn marketing strategy and to understand the significance of marketing strategy in tourism and hospitality market. Chapter 1.4: Purpose: The main purpose to study of this research is To investigate the significance of marketing strategies and public relations in tourism and hospitality market. To evaluate the effectiveness of marketing strategies in competitive tourism and hospitality market. To determine how Burj al-Arab is conducting their marketing strategies and public relations in their business development. Chapter 1.5: Statement of hypothesis: Marketing strategies and public relation (PR) has significant role in promoting tourism and hospitality product and service. Chapter 1.6: Limitations: Our research may face some limitation in conduction this study. As we will use secondary data to conduct this research so, that data may be invalid. The collected data and information may be expired to get the effective outcomes from the study. The unavailability of data may be another limitation of our research. Chapter 2.0: Review of related literature: Tourism and hospitality management organizations are facing competition in the market due to customers growing needs and demands (Deuschl, 2006). So, marketers are developing their marketing strategy to manage tourism and hospitality in the competitive market. Due to increased competition in the tourism and hospitality market, marketers are developing package tours and travels to attract variety of customers in the market. But they need to communicate this to their customers. In travel and tourism industry marketers target both local and international customers. Hence the target market is global. Each and every organization needs to have market sustainability. Brand image and brand loyalty provides the marketers sustainability in the market. Both of these marketing management activities provide the brand good positioning in the market. So when customers are dissatisfied with the product or services then they switch off   towards another brand. Marketers require customer retention i n the market. Customer retention provides the marketers good sustainability in the competition. Customer retention is more important than gaining new customers. In tourism and hospitality market organization can develop their strategic relationship with customers. To retain the customer tourism and hospitality organization launch strategic marketing campaigns such as VIP membership card, special loyalty card, life time customer club card. Tourism and hospitality marketers can move from transactional to relationship marketing approach. Hence successful relationship marketing is more effective than transactional marketing. Transactional marketing emphasis only on single transaction but relationship marketing provides emphasis on to the customer’s retention and customer loyalty. All of these marketing activities are focusing the customer loyalty. Burj-Al-Arab can launch customer loyalty program to have loyal customer in the market. Public relation (PR) activities are involved wi th management of reputation of the brand. Brand reputation is very important for the company’s market image (Oliver, 2004). Public relation activities provide customers positive attitude to the organization and its brand. Such type of promotional activities influence customer to stick to the brand. Thus marketers gain competitive advantage over the market. Burj Al-Arab has huge opportunity as a 7 star hotel to conduct public relation activities which give them good market reputation in the market. So, it’s an easy and effective way to conduct public relation activities by which they can gain market recognition in the highly competitive market. They also can have third party endorsement of opinion from any political or celebrities. In today’s marketing management a good public relation is important than ever before. Now customers are very much informed and intelligence with knowledge. It is also true that public is bothered with the exaggeration of advertisement for products or services. The difference between advertising and public relation is the public relation provides more important information to the public. It provides valuable information for customer’s awareness. Credibility is very important in public relation. An organization is to maintain high level of credibility in public relation. An organization is to maintain high level of credibility in public relation campaign (Andrew, 2009). In this case marketers can make a good relation with a local news paper who will write a good relation with a local news paper who will write a good article regarding the brand and their activities. To make effective public relation the organization can do extraordinary activities in the society. The public relation provides trust worthy news to the society which creates brand image in the market. Hospitality marketers develop new product and services for customer attraction. Very common marketing strategies by tourism and hospitality organization they create joint marketing promotional activities with travel and tourism organization. In this situation the organization can develop a package product for the customers. Their new product may be a new destination tours and travel; they can arrange an event, entertainment and recreational arrangements to attract customers. A brand loyal customer can create many more new customers. By performing word of mouth (WOM) company can have good market recognition. Market recognition is important for building and developing relationship marketing. At present marketers is laying emphasis on relationship marketing. Relationship marketing is performed for attracting and retaining customers for long time. To attract and retain customers organization requires quality product and service delivery. A brand’s responsibility is to make custome r happy with their product and services. To gain loyal customers a marketer’s responsibility is to provide customized service for individual customers. A market oriented organization delivers customer oriented service or customized service by which they can make happy the customers and can keep then loyal to the brand. Marketers require to be continuously monitoring customer satisfaction. Customer’s needs and wants are continuously changing. So, to meet these changing requirements of customer it requires satisfaction monitoring. Customer satisfaction monitoring provides marketer efficiency to provide market oriented product and service. Burj Al-Arab is a hospitality organization. They must monitor customer satisfaction to keep the customer’s needs and demands update. By motivating this marketers develop their new product or can improve the existing product. Network and relationship marketing is a new requirements for the marketers point of view (Shafi, 2008). Ne twork and relationship marketing provides strong network connection with company’s various customers. Thus network and relationship marketing benefits marketer in two ways one being connected to customer’s remaining loyal to the brand. The other importance is customer can provide their reaction to the brand. Customers can provide their ideas, need and demand to the marketers. In tourism and hospitality organization can build network and relationship marketing strategies. By building and maintaining network and relationship marketing strategy company can increase their market share. Strategic relationship provides company market survival and growth. To survive and significant prosper in the market strategic relationship is very important. Hospitality organization can build strategic relationship with other organization which is involved with travel and tourism service. For example Burj Al-Arab makes a strategic relation with British Air ways. Strategic relation is a con tract between two parties. In this case the hospitality organization can contract that are passengers in British air ways will get special benefit from Burj AL –Arab to take hospitality service. Thus this hotel can increase their customers and market share. Viral and guerilla marketing is effective for new product launch in tourism and hospitality organization. E-marketing or electronic marketing is very significant for tourism and hospitality organization. Now customer can do everything being at their home. Internet and e-marketing has made it easy. Tourists can buy their travel ticket, hotel booking and spot renting everything they can perform without any effort. So, e-marketing is very much effective for travel and tourism. Chapter 3.0: Description of the research design: Research design is very important to conduct a quality research. Our research will be qualitative and quantitative. Both qualitative and quantitative research will provide us effective outcome. Qualitative research h will provide us in depth understanding of research problem statement. On the other hand collected data will be analyzed in quantitative form with numerical presentation. Both of this will provide us good result our study. Chapter 3.1: Sources of data: Our data will be collected from the secondary sources. The secondary data will be available in the previous research paper, journal of articles, newspaper, book, trade magazine and in the internet. Chapter 3.2: Sampling Procedures: Conduct this research will take selective sample. The selective sample will provide our research significant result. Chapter 3.3: Data gathering instruments: Our will collect our field research representative. They will collect necessary data from various sources. To collect data they will contact the responsible organization earlier. Chapter 3.4: Statistical treatment: To get significant result from our study we will conduct statistical treatments. We will cluster analysis, regression analysis. Chapter 4.0: Data analysis: analysis is very significant part of the research. Our analysis data will be presented with appropriate text, necessary tables and figures and chart. Chapter 5.0: Major findings: Major findings of our research are: Marketing strategies are significant for Burj Al-Arab as a tourism and hospitality organization. Brand image is important for customer’s loyalty. Brand loyalty provides customer retention. Public relation provides good customer management and reputation for the brand. Public relation tactic provide customer retention in the market to specific brand. Chapter 5.1: Conclusion: Marketing is creative and dynamic. There are various customers in the market with different needs and wants. Marketer’s responsibility is to meet that customers needs and wants by providing quality products and services. There are different hotel are operating in tourism and hospitality market. Burj Al-Arab is one of them. To attract tourist customers they have different marketing strategies. In this way they differentiate from their nearest competitors in the uniqueness of services provided through innovative public relation campaigns they have good customer relations to provide them satisfaction. Strategic marketing is providing them market efficiency to complete in the market. Thus they are developing their market day by day and are   force to reckon with in the luxury hospitality market segment Chapter 5.2: Recommendation for the further investigation: Further investigation my be on impact of brand image in customer retention. Significance of relationship marketing in tourism and hospitality organization. E-marketing to manage customer relation. Reference: Dennis L. Wilcox, Public Relations Strategies and Tactics, 2003, ISBN-0205360734 Hasim Raja, significance of public relation in tourism market, 2004 Harper Deuschl, Development study of tourism and hospitality organization, 2006 Jean Noel Kapjerer, The new strategic brand management, 2008, ISBN-13:978074945085-4 Mustafa Repeci, Increasing brand loyalty in the hospitality industry, A journal of article, July 2009 Sandra Oliver, Public relation strategies, 2004, ISBN-0749435410 Susan Briggs, Successful Tourism Marketing, 2nd edition, 2001, ISBN-0749434694 flightmapping.com/airlines/QatarAirways/,Access date: 16/01/2011 http://directrooms.com/uae/hotels/burj-al-arab-hotel-dubai-731.htm, Access date: 17/01/2011 onecaribbean.org/content/files/UNWTOTOURISMOUTLOOK2010.pdf, Access date: 17/01/2011

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

International Financial Markets - Essay Example From this point, bond portfolios can be restructured in a systematic manner outlined as under: In the events when interest rates are expected to decrease, it would be advisable to restructure the bond portfolios drifting towards securities constituting long-term maturities. This will allow the portfolios to earn maximum capital gain because there is a stronger likelihood that the price of the bonds having long maturities are expected to increase by a greater amount than that of bonds having short maturities in case of a decrease in the yields. Conversely, in the events of an increase in the interest rates, it would be advisable to restructure the bonds portfolios drifting towards short-term securities as it may likely to result in decreasing the capital losses from a decrease in the prices of long-term maturities compared to the increase in the prices of securities having short-term maturities. ... ter 1 year Price of Bond 2 (5yr) after 1 year Price of Bond 3 (10yr) after 1 year Price of Bond 4 (20yr) after 1 year Price of Bond 1 (2yr) after 2 years Price of Bond 2 (5yr) after 2 years Price of Bond 3 (10yr) after 2 years Price of Bond 4 (20yr) after 2 years Bond Current Price P1 P2 2yr 109.5 104.4599 105 5yr 120.23 115.0694 109.2377 10yr 126.63 122.9504 118.6706 20yr 126.46 123.9087 121.6928 Holding Period Returns Bond 1 (2yr) Return for 1 year: 0.23 - 5.04006 = -4.81 Bond 2 (5yr) Return for 1 year: 0.85 - 5.16058 = -4.31 Bond 3 (10yr) Return for 1 year: 2.03 - 3.67964 = -1.64 Bond 4 (20yr) Return for 1 year: 3.19 - 2.55135 = 0.638 Bond 1 (2yr) Cumulative Return for 2 years: [0.23(1.0113) + 0.23] -4.5 = -4.0374 Bond 2 (5yr) Cumulative Return for 2 years: [0.85(1.0113) + 0.85] -10.99 = -9.2804 Bond 3 (10yr) Cumulative Return for 2 years: [2.03(1.0113) + 2.03] -7.96 = 3.877 Bond 4 (20yr) Cumulative Return for 2 years: [3.19(1.0113) + 3.19] -4.76 = 1.656 Bond 1-year Return 2-year Return 2yr -4.81 -4.0374 5yr -4.31 -9.2804 10yr -1.64 3.877 20yr 0.638 1.656 Task 5 Holding period return is considered as quite significant because the period covering this return pertains to the time horizon for which the investment is to be held in the portfolio. In the light of the holding period returns generated for the four bonds, it can be closely observed that if the time horizon is kept as 1 year, securities having short-term maturities, are unable to provide any returns, rather they are incurring losses. Only 20-year bond is providing the holding period return of 0.638 while rest of the other three securities, are in negative zone. On the other hand, if the 2-year time horizon for holding the securities in the portfolio is taken into consideration, it can be noted that the

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Investment Appraisal Decision Making

Investment Appraisal Decision Making 1. INTRODUCTION The research is undertaken in the partial fulfillment of degree of MBA. The dissertation focuses on the investment appraisal in the Indian hotel industry. Shareholders and Creditors invest capital in an enterprise in the hope of gaining a return. For loan creditors they require interest plus a return of their capital, while shareholders require dividends and maintenance or increase of share prices. The capital invested is channeled through the enterprise and invested in capital projects, which must generate returns commensurate with the expectations of the providers of that capital. Capital investment within any organization is crucial and important for the organizations well being and long time survival. Capital investments are those which have long-term effects on the organization by providing benefits over a number of years. This dissertation also shows the different types of investment appraisal and shows the company where to invest and where to not invest. Questionnaire is desig ned to collect primary data along with secondary data collected during literature review. Conclusions will be based on the basis of data collected from questionnaires. Secondary data and recommendations will be presented that will enhance the decision making process made in the Indian hotel industry by the investment appraisal methods. 2. OVERVIEW OF INVESTMENT APPRAISAL Capital expenditure decisions are crucial to the long-term viability, success and survival of a company. Capital investment appraisal provides a framework in which capital projects can be considered, screened and evaluated. Because of the inflexible nature of capital projects, risk and uncertainty, and environmental change, e.g.; the tax factor, changes in government policy and technological change, it is essential that they are carefully selected, to ensure that they will help the organization to achieve its objectives. Therefore, Investment decision is one of the key decision areas of financial management. An investment decision can be defined as one that involves the firm making a cash outlay with the aim of receiving, in return, future cash inflows. Decisions about buying a new machine, building a factory, extending warehouse, improving a delivery service, instituting a staff training scheme or launching a new product line are all examples of investment decisions that need to be made by the industry. In order to make such decisions and to ensure that they are consistent with each other, a common method of appraisal is required which can be applied equally to the whole spectrum of investment decisions and which should help to decide whether any particular investment will assist the company in maximizing shareholder wealth. Therefore, investment appraisal methods cannot replace managerial judgement, but they helps to make that judgement more sound. Investment appraisal is also referred to as ‘capital budgeting (Lumby. S, 1988). The decision making consists of different stages: Planning Identifying the alternatives to be considered and their transformation into workable proposals. Appraising the alternatives and selecting the best one with regard to the organ isations goals. Implementing the decision. Reviewing the selected investment project (RÃ ¶hrich. M, 2007). 3. RESEARCH AIMS OBJECTIVES Every organization has problems in its investment areas, so an appropriate investment appraisal is required to solve these problems.The role of investment appraisal is to ensure that appropriate information is gathered relating to the investment alternatives. Capital investment decisions allocates resources within the organization to offer the best potential of meeting its objectives. It maintains and improves profit performance and increase market share. It achieves a balanced product portfolio. Investment appraisal methods are relevant to all decisions that form part of the investment planning process. Understanding different investment appraisal methods, their assumptions, limitations and possible usages will lead to an increased understanding of different decision making and an informed choice of methods. This should greatly enhance decision making in regard to both single investment projects and investment programmes. It enhances various alternatives to use different methods of investment appraisal to make business decisions. It also develops higher order skills through having to consider other factors, apart from quantitative methods, that a business might have to consider in making business decisions. The main goal of long term decision making is that the firm must handle the investment in order to earn profits greater than the funds committed. In order to handle these decisions, firms must have to make an assessment of the size of the outflows and inflows of funds, the lifespan of the investment, the degree of risk attached and the cost of obtaining funds. The main focus of this research is to analyze the decision making process made in the Indian hotel industry by the investment appraisal methods. Taj Residency Plc, Abad Plaza Plc are the hotels in India which are included in this research. This dissertation will try to answer following questions using investment appraisal methods depending on problems identified during the analysis and searching for a lternatives. Key considerations in making investment decisions are: Should an investment be undertaken or rejected? In the case of mutually exclusive investment projects, which one should be preferred? For how long should n investment project should be utilized? When should the investment project be started? What is the scale of the investment can the company afford it? How long will it be before the investment starts to yield returns? Which of the investment projects should be preferred and carried out when limited financial budget restricts the number that can be undertaken t the same time? How long will it take to pay back the investment? What are the expected profits from the investment? Could the money that is being ploughed into the investment yield higher returns elsewhere? Does the proposed investment fit in with the organizations strategic objectives? What are previous proposals to see which techniques the organization uses? How the organization allows for risk and inflation in investment proposals? Which investment appraisal techniques would the companies wish to consider for making long term investment decision? Investment appraisal in the Indian Hotel Industry Hotel Industry in India has made tremendous boom in the recent years. Hotel Industry is inextricably linked to the tourism industry and the growth in the Indian tourism industry has fuelled the growth of Indian hotel industry. The hotel industry and tourism industry in India are straightly linked to each other. Revenues of Hotel and Restaurant (HR) industry in India during the financial year 2006-07 was INR604.32 billion , a growth of 21.27% over the previous year, primarily driven by foreign tourist arrivals ,which increased by 14.17%. at present, there are 1,980 hotels approved and classified by the Ministry of Tourism, Government of India, with a total capacity of about 110,000 hotel rooms. The tourism industry is showing excellent performance, in terms of foreign tourists arrival. It is estimated that over the next two years 70,000-80,000 rooms will be added across different categories throughout the country. The thriving economy and increased business opportunities in India have acted as a boon for Indian hotel industry. The cheaper airlines rates to India has also made growth in the domestic and international tourists which helped the industry very successfully. In recent years the Indian government has taken several measures to boost travel tourism which have benefited hotel industry in India.Investments in tourism infrastructure are essential for Indian hotel industry to achieve its potential. But instead there are few challenges faced by the Indian Hotel industry. They are lack of cost structure, shortage of efficient manpower, shortage of resources etc, so an appropriate investment appraisal is required to select and monitor the investments properly. The hotels which are included in this research are Taj Residency Plc, Abad Plaza Plc. Taj Residency Plc is a five star hotel which is situated in Cochin, kerala, India. Its a hotel which consists of 108 rooms including 12 spacious suites. The hotel provides all the services for the customers. The hotel is situated near to the sea, so it focuses mainly on international tourists. The Taj Residency Group is focusing on building a new hotel under the same name in another place in kerala, India. Abad Plaza Plc is a five star hotel which is situated in Cochin, kerala, India. Its a hotel which consists of 80 fully furnished luxury rooms. The hotel provides much more quality services for the satisfaction of customers. Warmth and hospitality has always been the strong points of this hotel. It is located near to the railway station and close to bus station as well. The hotel is trying to expand the business by way of building another hotel in another city in kerala, India and they are planning to extend the existing hotel into more bigger one in order to build more rooms and provide more service facilities to customers. So, a good decision must be made by using efficient investment appraisal techniques in order to invest in the right place and in the right time. 4. LITERATURE REVIEW OF INVESTMENT APPRAISAL An investment is ‘any course of action that involves sacrifices now or in the near future in anticipation of higher future benefits (Pike and Neale, 2003). Investment appraisal is influenced by the fact that external shareholders and potential investors have access to accounting data and make their estimates of firms economic rte of return with accrual-based accounting numbers. As a result, there is a continuing history of research analysing and relating accounting rate of return and economic rate of return concepts. Accounting information affects investment appraisal in many ways (Danielson Press, 2003). There are four basic techniques for the appraisal of capital investments which are : Payback (PB) measures the time that it will take to recover the total funds invested in an project. It shows the time required for the total cash inflows to equal the total cash outflows. A Project is considered attractive if it has short payback period. Projects with short payback periods allows managers to recuperate their investment quickly and give them more flexibility to reinvest these funds in future. They also have fewer risks than projects with longer payback periods. The payback period is popular method to evaluate capital investments. The shorter the payback period is, the more desirable the investment. Because the payback period focuses on short-term results, it does not require managers to predict cash flows far out into the future. Accounting rate of return (ARR) measures the percentage return the project achieves over its life in terms of profitability. Accounting rate of return is often used internally when selecting projects. It measures the performance of projects and subsidiaries within an organization. ARR is almost similar to payback period method but the important difference is that it tends to favor higher risk decisions, whereas use of the payback period leads to overly conservative decisions(Broadbent. M, Cullen. J, 2003). Internal rate of return (IRR) measures the percentage return the project achieves over its lifetime in discounted cash flows. The advantage of using IRR method is that it does not consider the time value of money and therefore is more exact and realistic than the ARR method. The shortcomings of this method are that it is time consuming to compute (Shim. K. J, 2000). Net present value (NPV) compares the initial cost of the project with the future discounted cash flows it generates. It allows the company to screen the company projects potential profitability by discounting future cash flow expectations and comparing the sum of these cash flows to the initial capital expenditure required to fund the project. Though similar to IRR method, NPV does not calculate an investments exact rate of return but instead calculates the exact dollar amount that an investment exceeds, or fails to meet , the expected rate of return. NPV provides an excellent decision criterion for investments. NPV does not suffer from any of the drawbacks of the payback or IRR methods. NPV is the method most recommended by financial experts for making investment decisions. IRR is still used to determine the exact rate of return for an investment, but NPV has none of the problems that IRR have with unusual investments (McAllister. E. W, 2005). 5. RESEARCH METHODOLOGY A research design provides a framework for the collection and analysis of data (Bryman and Bell, 2007). Data is divided into four types; secondary, primary, quantitative and qualitative. Selection of data type depends largely on the type of research (Buckley, 1995). The research objectives justify that descriptive research is the best method to achieve research objectives. The methods used in this research to collect primary data are as follows: Questionnaire It is a commonly used technique in quantitative research methods. The main benefit of using questionnaire to collect primary data is that it collects data in a format that is easy to analyze. The questions to be asked in the questionnaire are dictated by the research objectives. Questionnaire provides good sampling control and flexibility and control with regards to location and time. It is time consuming if several segments are involved. The research undertaken will use questionnaire to collect primary data. The mainrationale behind choosing questionnaire is that the research requires the controlled responses from the individuals. Time limitation for the dissertation also supports the selection of questionnaire for primary data collection as it is less time consuming to conduct. Personal interviews A Personal interview is defined as a purposeful discussion between two or more people (Kahn and Cannell, 1957). The data collected using personal interview is very reliable. Interviews can be un-structured or structured (Saunders et al, 2007). Structured interviews are a systematic goal oriented process. They force organized communication between the knowledge engineer and the expert. A structured interview is a question and answer session, which is recorded in some way. Personal interviews provide the visual verification of respondents characteristics and references to sources can be used to verify facts. However, personal interviews may be expensive and difficult to arrange. Also respondents may formulate the answers depending upon their profiles.

Kochs Postulates :: essays research papers

Koch’s Postulates   Ã‚  Ã‚  Ã‚  Ã‚  Introduction Koch created four guidelines to determine the causal agents of disease in humans, animals, and plants. Koch proved that a disease-causing agent could be transferred from one organism to another and create the same illness. Isolation of pure cultures and the introduction of the disease-causing agent to a healthy organism will transmit the disease and infect the inoculated organism. Koch’s four guidelines by which one must follow to transmit a disease from an infected organism to a healthy one are as followed: 1. The specific organism should be shown to be present in all cases of animals suffering from a specific disease but should not be found in healthy animals. 2. The specific microorganism should be isolated from the diseased animal and grown in pure culture on artificial laboratory media. 3. This freshly isolated microorganism, when inoculated into a healthy laboratory animal, should cause the same disease seen in the original animal. 4. The microorganism should be reisolated in pure culture from the experimental infection. In this exercise, Penicillium was utilized, a common, safe, mold. Certain species of Penicillium will spoil fruits, vegetables, grains, and grasses. Other species will ripen various chesses. Still, other species are used in the production of antibiotics. The species of Penicillium, italicum is provided for the lab because of its pronounced hyphae. Penicillium italicum, along with Penicillium digitatum attack citrus fruits post-harvest. In this experiment, the effect of Penicillium italicum on two types of citrus fruits and one non-citrus fruits were tested.   Ã‚  Ã‚  Ã‚  Ã‚  Materials & Methods 1. Pick several appropriate fruits. 2. Gently was fruit in cool, soapy water, using a scrub brush on the citrus fruits, then rinse thoroughly with cool running tap water. 3. Place citrus in a beaker and cover with a 10% bleach solution. Let soak for 10 minutes. 4. Rinse thoroughly with cool running tap water for 10 minutes. 5. Flame sterilize a teasing needle, cool, then pierce skin of disinfected fruit. 6. Unscrew cap on Penicilium italicum culture tube with one hand and flame the mouth of the tube. 7. Using the first three fingers of your writing hand, obtain a sterile applicator stick and remove a small sample of the fungus and smear over the puncture wound of the fruit. 8. Flame tube and recap. Discard swabs appropriately. 9. Obtain a second sample with a sterile applicator stick and smear over an unpunctured section of the fruit. 10. Flame tube and recap. Discard swabs appropriately. 11. Maintain a control for the experiment.