Abortion Subject

The topic of women having abortions can be an intense subject. This subject has always been a debate because the people of society cannot agree on weather â€Å"abortions† are right or wrong. In this paper I will give multiple reasons why abortions should be legal for women to have. Abortions are legal and should remain legal because women should have the right to decide what happens with their bodies; some women that become pregnant are not ready emotionally or financially to be mothers; and abortions is the best answer for an unwanted pregnancy. It’s a woman choice I agree abortions should be legal because not all women can afford to take care of a child or give them the necessities they need. I also believe this choice should be up to women. This is the same with any medical procedure, if a person was to have a tumor while pregnant and it was life threatening, what you will choose to do save the baby or the woman. This is where abortions come in. People need not to look at this like a disease and start treating abortions like any other medical procedure. According to the Washington Post NBC/WSJ polls find that, on the 40 anniversary of the Supreme Court’s Roe v. Wade decision, 70 percent of Americans want the landmark abortions rights ruling to stay (Weiner, 2013). Indeed, as we learned from study there are more people who agree to keep this order in place for woman. This alone says it is a safe procedure if done right by experienced physician. Keeping abortions legal is the right choice because this is something that helps women have a choice on what to do with unwanted or unsafe pregnancies. While abortions can offer ways to help women with any kind of issues they may go through while pregnant, another important information women need to know is be safe and observe the physicians to ensure they are well qualified physicians. Pros of an abortion There are plenty of pros when it comes to this topic. Abortions are not as negative as everyone might want to think. Abortions are done in the case of women being raped; there are very few women that really want to keep their child in cases like this. Is abortion such a terrible thing in this situation? I do not think so. Doing research on this topic there are pros to legal abortions, study show A woman’s right to choose abortion is a fundamental right† recognized by the U. S Supreme Court. The landmark abortion case Roe v. Wade was decided on January 22, 1973, and remains the law of the land (ProCon. org, 2013). Certainly, there are people that do not agree with abortions and never will, but one person’s opinions should not affect other decisions. Although people say abortions are wrong and it’s killing another human being, it’s also important to remember why abortions are necessary. In cases abortions are not done for malicious intent, but in some cases they are done to save the life of women. Cons of abortions Where there are pros there are cons to any subject or topic. On the topic should abortions be legal, many say there are some cons that others do not believe. With this topic people will never be 100 percent comfortable. The only con I believe is getting the procedure done wrong by an unprofessional doctor that will lead to death and not by an experience doctor, nurse, or physicians to ensure your health. For example, study says† women should use contraceptives not abortion, to avoid unwanted pregnancies. A center for Disease Control and prevention study show that 19-25% of women who received abortions in 2006 had previously had one or more abortions. If abortions were not available, women would use preventable measures (ProCon. org, 2013). Having a negative attitude about abortions will lead to not looking at the positive sides of having a abortion. Seeing these kinds of negative impact puts a negative influence on others and confuses others about what is right for them and their body. After reading study, I have to say I disagree, just because woman have abortions and they are available does not mean all woman abuse the system. For example if a woman is raped she should have used protection to prevent her from getting pregnant. That does not make sense. Whose to say why women have abortions, society just follow the number of abortions and studies which can be misleading at times. What’s the risk of abortions? I personally believe in abortions but I also know there are health risks when having abortions. Currently in the United States over the years there have been a number of abortions happening. There is risk at everything we do, like including abortions. To avoid such risks according to study† currently in the United States, a patch work of state regulations determines who can provide abortions with several states specifically prohibiting non-physician clinicians from performing the procedure (News RX, 2013). Indeed, having educated nurses and other health physician handling patients that has had or is contemplating an abortion is the safest thing to do to ensure all women are cared for correctly while having this procedure. If people don’t take abortions seriously then people can have false information about this issue. This will lead to unsafe conditions do to abortions. Increasing the types of health care professionals who can provide early aspiration abortions care is one way to reduce this health care disparity (News RX, 3013). While there are risks to having an abortions the rate of abortions has fell 29% between 1990-2005 from 27. 4 to 19. 4 this is not counting the level cut from 2005-2008 (ProCon. org, 2013). With this being said the rate of abortions are continuing to fall which is a positive thing. Abortions help saves lives According to (Planned Parenthood) legal abortions protect women’s health. For tens of thousands of women with heart disease, kidney disease, severe hypertension, sickle cell anemia and severe diabetes, and other illnesses that can be life threathing, the availability of legal abortions has helped avert serious medical complications that would have resulted from childbirth (Planned Parenthood, 2006). Reasons why abortion should be legal If abortions were not legal, than women would have no options for an unwanted child. Let’s talk about unwanted children. For one every child wants to be wanted, and loved by someone. If women are forced to carry unwanted pregnancies to term, the outcome would be society has unloved, unwanted children having abandonments issues. This is another problem of its own. Again this is why I personally believe abortions should be legal. What abortion does is help some women who are not ready to be mothers financially and or emotionally. We all know that women have abortions for many different reasons even if society disagrees on this issue of abortion. Also abortions are a way to keep some of our children from having to grow up financially and emotionally deprived. Everyone looks at abortions as if it’s an easy task,† don’t want the child go have an abortions†. For some it’s not that easy and the reasoning behind having an abortion is not that easy either. It’s important not to judge someone for their actions and to not really know the reason as to why some women have made this choice. Reasons As I said before women have abortions for many different reasons. One may be because it wasn’t planned, â€Å"what some would call an accidental pregnancy†. Another reason could be in the case of rape. Majority of women would not want to be reminded of that kind of experience so abortion should be an option. Another reason is what if the baby had a birth defect that caused harm for the baby and the mother. Again abortion should be an option or even in the case of incest. I don’t think any women would want to keep a baby by someone from their own family they have known them their whole lives and that has raised them as a child. You have to be a very strong woman to go through these things, and there are plenty in our world. Having a child and being a parent are two different things if you look at it. Being a parent is someone who is going to guide you, nurture you, and loves you unconditionally, who provides and protects you. Now having a child any woman can do that. But for some they do not want or cannot do for their child/children. Having a child is a major responsibility financially, psychologically, and morally. Raising a child demands time, patients, effort, a sane mind and can’t forget money.

Post operative care Essay

Whilst the patient is in PACU, identify and discuss airway management (and rationales) as related to the case study (400 words) The post-operative patient is at risk for respiratory problems due to ineffective airway clearance related to changes in pulmonary physiology and function caused by anaesthetics, narcotics, mechanical ventilation, hypothermia and surgery. With increased tracheobronchial secretions secondary to the effects of anaesthesia, combined with ineffective coughing, and decreased functions of the mucociliary clearance mechanism. (Monahan, Neighbors, & Green, 2011) Oxygen is commonly in place as it supports the elimination of anaesthetic gases and helps meet the increased metabolic demand for oxygen caused by the surgery (deWit, 2009). The sedation and muscle relaxation drugs used often cause the tongue to occlude the airway and for that reason endotracheal tubes or artificial airways are not removed until clients are awake and able to maintain their own airway (Berman & et.al, 2012). During the immediate post anaesthetic stage an unconscious client is positioned on the side, with the face slightly down, without the support of a pillow. In this position gravity keeps the tongue forward, preventing obstruction of the pharynx and allows the drainage of any mucous or vomitus out of the mouth rather than down the respiratory tract (Berman & et.al, 2012). Suction should always be readily available to clear secretions. Alternatively if the patient cannot be positioned on their sides the airway can be opened by moving the jaw forward (the nurse’s fingers are placed behind the angle of the jaw, lifting it forward. As the Jaw moves, the tongue comes forward, opening the airway. (deWit, 2009) An artificial airway is maintained in place and the client is suctioned as needed until cough and swallowing reflexes have returned. Generally the client will spit out the oropharyngeal airway when coughing returns and the swallowing or gag reflex it intact (Berman & et.al, 2012) Auscultate the lungs carefully for abnormal sounds as this can indicate retained secretions. Encourage deep breathing and coughing every 2 hours or more for the first 72 hours post operatively. (Monahan, Neighbors, & Green, 2011) Assess the rate and depth of respirations as Hypostatic pneumonia occurs when lack of movement causes stasis of secretions encouraging bacteria  growth. Be certain to turn the patient every 2 hours as this changes the distribution of gas and blood flow in the lungs and helps move secretions. (deWit, 2009) Facilitate deep breathing and coughing by demonstrating how to splint abdominal and thoracic incisions with hands or a pillow. If indicated medicate  ½ hour before deep breathing, coughing or ambulation to promote adherence (Monahan, Neighbors, & Green, 2011) In order of priority, using evidence based literature, identify and discuss the nursing interventions (and rationales) required to care for the chosen patient in the first 24 hours upon returning to the ward. Nursing intervention/care presented needs to be accurate, relevant and Specific to the chosen case study. During the initial hours after returning to the ward the primary concerns for the nursing staff are that the patient has adequate ventilation, haemodynamic stability, no incisional pain, surgical site integrity, Post anaesthesia nausea and vomiting are under control, stable neurological status and that the patient is spontaneously voiding. (Smeltzer & Bare, 2011) Pulse rate, blood pressure and respiratory rates are recorded at least every 15 minutes for the first hour and then every 30 minutes for the next 2 hours. Temperature is monitored every 4 hours for the following 24 hours (Smeltzer & Bare, 2011). Assessments of the patient are to be done at frequent intervals during the first 24 hours postoperatively looking for indications of internal haemorrhage and impending shock. This includes pallor, diaphoresis, cool extremities, delayed capillary refill, restlessness, agitation, mental status changes and disorientations or an impending sense of doom (Monahan, Neighbors, & Green, 2011) . During the initial postoperative period it is important to orientate and reorientate the patient to person, place and time. Informing the client that the surgery is over and that everything went well. Repeating this information until the patient is fully awake and orientated helps to reduce anxiety and confusion (Monahan, Neighbors, & Green, 2011) Margaret is placed in a semi Fowlers position after she recovers from anaesthesia. Aside from being more  comfortable and having less strain on the sutures, the patient will also be able to take deep breaths and cough more easily in this position. (deWit , 2009) Pain assessments should be conducted during each observation for behavioural and physiologic indicators such as facial tension, grimacing, moaning, diaphoresis, increased BP, increased pulse and respiratory rates. (Monahan, Neighbors, & Green, 2011) Use any PRN doses of pain relief medications before pain becomes severe as well as before painful procedures, ambulation and bedtime ask the patient to describe the pain including description, location, and intensity and aggravating and alleviating factors (Monahan, Neighbors, & Green, 2011) Administer pain relief according to the World Health Organisations three step analgesic ladder. If the patient is still in pain some non-pharmacological pain control such as heat or cold packs, tens machines, massage, or distraction techniques may be helpful (Monahan, Neighbors, & Green, 2011) An assessment of the abdomen every 4-8 hours by inspection, auscultation, palpation and percussion for looking for any indications of distention and listening for signs of bowel sounds in all 4 quadrants of the abdomen (Berman & et.al, 2012). Monitor vital signs every 4-8 hours be alert to changes consistent with dehydration including decreasing blood pressure, increasing heart rate and slightly increased body temperature, dry skin and mucous membranes, skin turgor, diminished intensity of peripheral pulses and any alterations in mental status. Monitor the patients urine output and concentration. Checking the NPO status and in the absence of post anaesthesia nausea or vomiting introduce oral foods and fluids cautiously (Monahan, Neighbors, & Green, 2011) As Margaret has a BMI of 30 she is considered obese. Obesity is known to increase morbidity and mortality in the general population and thus is perceived as a risk factor contributing to postoperative complications such as pneumonia, wound infections and wound separations. (Doyle, Lysaght, & Reynolds, 2009) From a surgical perspective, obesity has long been considered a risk factor for adverse post- surgical outcomes as it is associated with pulmonary disorders including obesity hypoventilation syndrome, atelectasis and pulmonary embolism, as well as a possibility of cardiovascular, and wound healing complications. (Doyle, Lysaght, & Reynolds, 2009) Overweight patients are  also vulnerable to pressure ulcer formation due to positioning required for surgery therefore the perioperative nurse must provide adequate padding and other measures to protect the client’s skin. (Berman & et.al, 2012). Obesity can increase the risk of wound dehiscence both directly by increasing tension on the fascial edges at the time of wound closure, a nd indirectly, by increasing the risk of wound infection which is also a risk factor for wound break downs. (Doyle, Lysaght, & Reynolds, 2009) Margaret is placed in a semi Fowlers position after she recovers from anaesthesia. Aside from being more comfortable and having less strain on the sutures, the patient will also be able to take deep breaths and cough more easily in this position. (deWit, 2009) The use of incentive spirometer and other respiratory devices (Monahan, Neighbors, & Green, 2011) can also help to reduce the incidences of respiratory issues. Drainage must be checked frequently for signs of fresh bleeding, the drain is left in place as long as necessary and is then removed by the surgeon (deWit, 2009) The nurse needs to determine the colour, consistency and amount of drainage for all tubes and document accordingly (Berman & et.al, 2012). Evaluate patency of all surgically placed tubes or drains. Monitor insertion sites for indications of infection. Warmth, swelling, tenderness and unusual drainage. (Monahan, Neighbors, & Green, 2011). The wearing of compression bandages and the promotion of calf pumping, ankle circling, and foot board- pressing exercises to encourage circulation and prevent thrombophlebitis in the lower extremities (Monahan, Neighbors, & Green, 2011) Constipation can all be related to immobility, the use of opioid analgesics, dehydration and disruption of abdominal musculature. Auscultate each abdominal quadrant for at least 1 minute to determine presence of bowel sounds. Treatment is usually through stool softeners, high fibre diets and hydration (Monahan, Neighbors, & Green, 2011). Encouraging early and frequent ambulation can also help to improve gastrointestinal motility and to reduce abdominal distention by the accumulation of gases. (Monahan, Neighbors, & Green, 2011) As part of your role as a primary nurse for your patient, you are required to initiate discharge planning. Identify the allied health professional/s you would refer your case study patient to and discuss the rationale behind your referral, what treatment may this health professional/s provide. (300 Words) For Margaret’s discharge I would refer her to the following allied health professionals. Dietician- Would work with Margaret with the intention to assist her to reach optimal health and weight loss through food and nutrition. Providing expert nutritional advice for people of all ages and can prescribe dietary treatments for conditions such as obesity, diabetes and gastrointestinal diseases (Nutrition Australia, 2014) Post-acute care- Is a program that ensures a safe discharge for hospital by providing people with community based supports to help them recover in their home or community and to reduce the risk of readmission to hospital. Assessments of the persons needs are performed and includes the person’s healthcare and psychological needs. It includes community nursing, personal care, home care and allied health such as physiotherapy. (Monash Health, 2014) Wound care nurses or District nurses to help with: Client education for self-care †¢ Appropriate dressings/bandaging based on diagnosis and patient lifestyle preferences †¢ Cleansing and debridement of wound †¢ Hygiene (cleansing self and wound waterproofing as required) †¢ Diet (the importance of essential vitamins and minerals as required) †¢ Signs and symptoms of complications †¢ Bandaging/dressing techniques †¢ Exercise regimes †¢ Lifestyle factors/changes †¢ Disease process and health maintenance †¢ Prevention of recurrence (Fremantle Hospital and Health Service, 2012) †¢ Pain management †¢ Medications †¢ Analgesics †¢ Topical antimicrobials/antifungals †¢ Local anaesthetics †¢ Topical corticosteroids †¢ Oral antibiotics Follow up GP appoint to discuss any further issues and to remove any sutures if not done by the district nurses. References Berman, & et.al. (2012). Kozier and Erbs Fundamentals of Nursing. Frenchs Forest: Pearson. deWit, S. C. (2009). Medical- Surgical Nursing Concepts and Practice. Missouri: Saunders Elsevier. Doyle, S. L., Lysaght, J., & Reynolds, J. V. (2009). Diagonositc in Obesity and Complications. Obesity and post- operative complication undergoing non-bariatric surgery. Obesity Reviews, 875-886. Fremantle Hospital and Health Service. (2012). Nurse Practitioner Wound Management- Clinical Protocol Minor Surgical Procedures. Fremantle: Department of Health. Monahan, F. D., Neighbors, M., & Green, C. J. (2011). Swearingen’s Manual of Medical-Surgical Nursing: A Care Planning Resource. Maryland Heights: Elesevier Mosby. Monash Health. (2014). A world of healthcare. Retrieved August 29, 2014, from Monash Health: https://www.monashhealth.org/page/Services/Services_O_-_Z/Post_acute_care/ Smeltzer, S. C., & Bare, B. G. (2011). Textbook of Medical-Surgical Nursing (2nd Australian And New Zealand ed. ed.). (M. Farrell, & J. Dempsey, Eds.) Sydney: Lippincott Williams & Wilkins Pty Ltd.

Acrobatics Workshop Essay Example for Free

Acrobatics Workshop Essay ? No matter which figures or pyramids are being tried, the facilitator must make sure that there are â€Å"catchers† present to prevent injuries. Participants should be instructed how to catch one another and to take responsibility for others in the group.  1. Description of the activity  Part 1 – Warming Up & Trust Exercises  A. The participants are put into pairs. One partner becomes a guide, the other becomes â€Å"blind†. The guide takes their blind partner for a walk (around the grounds, over obstacles, etc. ) while holding hands. After some minutes the partners change roles. Variations: Follow the same steps as above, but have the seeing partner lead with only one finger. Alternatively, have the seeing partner lead using only their voice – no physical contact between partners.  B. In pairs, participants stand face to face with their feet together and holding hands. Each person leans back carefully with full body strength by stretching their arms. The challenge is to maintain balance.  C. All participants stand together in a circle and hold hands. Count off into 1’s and 2’s. On the signal, using all their strength, the 1’s lean inside while the 2’s lean outside. After a few seconds, carefully pull back into a normal circle and then change (2’s inside, 1’s outside). D. In small groups (3-7 persons), one person stands in the middle of a circle. Standing stiff and without moving their feet, the one in the middle â€Å"falls† from one person to another and is slowly passed around inside the circle. After some moments, change roles. Give everyone a chance to be in the middle.  Variation: you can also do this with just three persons. The one in the middle is slowly passed forward and backwards between two persons. Part 2 – Stretching  Before trying actual figures, it is important to warm up the joints and the muscles. Gently stretch legs, arms, neck, and shoulders. Don’t forget to pay attention to the wrists and ankles, too.  Part 3 – First Acrobatic Steps  3A. Napoleon (3 persons):  Ã¢â‚¬â€œ The first person goes down and takes the â€Å"bench† position; the second person goes up and forms a bench on top of the first person (see diagram 4)  Ã¢â‚¬â€œ The first person goes down and takes bench position; second person goes up and stands on the shoulders and hip of the bench. Keeping their balance, the bench slowly starts to walk forwards on their hands and knees (see diagram 10). (Remember – you must NEVER stand in the middle of the bench’s back, only on their shoulders and hips!) The third person is always the â€Å"catcher† for the person who is â€Å"up†.  3B. Knee stands (4 persons)  Ã¢â‚¬â€œ The first person goes down and takes the bench position; second person sits down on the bench’s hips (facing bench’s feet); taking the second person’s hands, third person goes up and stands on second person’s knees (keep holding hands). If second and third person can balance on their own, the bench can walk away, leaving the two in balance position. The fourth person is the catcher. 3C. Galion figure (4 persons)  Ã‚  The same as 3B (above), but second and third person open op their arms on one side and look in the same direction. (You still need the fourth person as catcher.)  Part 4 – Pyramids and standing on shoulders  Once participants have grasped the basic steps, they can proceed onto building pyramids and making new shapes (see diagrams in section D â€Å"Some Pyramids†).  2. General remarks  Who can do acrobatics? Acrobatics can be used with groups of all ages: teenagers, adults, even children from 4 or 5 years of age. It is important to include the warming up and trust-building exercises, especially if the people in the group do not know each other very well. Stretching and warming-up the muscles is important to avoid accidents. Everyone in the group should be taught the catcher’s tasks. The group has to take responsibility for itself – it is up to everyone to look out for one another. Why use acrobatics?  Acrobatics is a perfect method for team-building at any age. It’s good to learn to give and to take help from one another. Even if you have only a short amount of time, participants can learn amazing things like building pyramids or standing on shoulders. Acrobatics can help people learn about taking responsibility for others but also about respecting limits (their own and other person’s). The atmosphere in the workshop should allow participants to say if they don’t want to try a certain figure or activity. An extra touch  If you have more time (e.g. the group stays together several days), the participants can put together a presentation. This is a great way for the group to show off what they have learned (especially good for children and young adults).  Accessibility  Some groups may have specific needs (e.g. older participants or individuals with physical or mental disabilities), but these are not reasons for people to be excluded. For example, past experiments with acrobatics has shown that it’s possible to include people who might be missing a limb or even those in wheelchairs. There may be some limits, but in most cases it just takes some fantasy to create new forms and figures which include all members of the group. 3. Literature  There are many resources to be found describing acrobatics and other circus activities. Two of these include:  1. Rudi Ballreich, Udo v. Grabowiecki (Hg.), Zirkus spielen. Ein Handbuch, 1999 Stuttgart/Leipzig. Not only about acrobatics but all circus skills you can use with young people, tips for presentation as well. (German language)  2. J.M. Fodero/E.E. Furblur, Creating Gymnastics, Pyramids and Balances. Leisure Press, Champaign, Illinois, 1989. This book focuses only on acrobatics and has a great amount of drawings for figures for 2 persons up to pyramids with 15 or more persons. For beginners to advanced. You can find some figures presented in the book on the Internet: http://www.mypage.bluewin.ch/mmc/akro/bkd7.html. (A German-language edition of this book is available under the title Menschenpyramiden.) Acrobatics Workshop. (2017, Sep 26).

Robots Research Paper Example | Topics and Well Written Essays - 1250 words

Robots - Research Paper Example ..............................................................................7 Recommendations ..........................................................................................................7 REFERENCES................................................................................................................9 The global technological advancement has hit higher notch with a shift to use of robot in several activities. It is important to discuss in lengths and depths the significance of robot technology in regard to the increasing need for efficiency in production and service delivery for a better living in the society. Scientists are making several attempts to develop a wide variety of robots that can reason nearly as a human being and undertake several activities. In this respect, it is important to note that further investigation is critical as far as ethical concerns are concerned in the robot technology. There is more investigation on how to improve robot to human interaction as this would result into break rough in their efficiency. A. Background - Robots are man made virtual artificial agents that are computer programmed and can be guided to carry out several activities normally done by man. More research and development efforts by countries and individuals have led to increased application of robots in the society. Ranging from the medical field, space exploration, military among others, scientists are continuously developing more sophisticated robots. Robots are always electro-mechanically operated and therefore lack human aspects which are the greatest concern. B. Purpose/Audience–The purpose of my research paper is to bring awareness and define possible solutions that robot scientists are studying to solve the problem of human robot interaction. By exposing the problem and its severity, this paper may also motivate scientists to invest in solving this crisis. Robotic research scientist students will be the primary audience for my

Research Plan---What is globalization Essay Example | Topics and Well Written Essays - 250 words

Research Plan---What is globalization - Essay Example Globalization is the process of globalizing, which involves global integration guided by multicultural interactions, trade, migration, and worldviews. Globalization is an interesting topic owing to its complex nature that determines economic and political emancipation and the effects it has had on the environment. For instance, I would like to know the ramifications of globalization on Yellowstone Park, a famous national park, and the reduction of its effects. Thousands of earthquakes affect Yellowstone Park every year, an issue attributable to globalization. The influx of tourists and visitors has increased pollution in the region, for instance, water pollution, traffic jam, and park litter. In addition, there is an increase in crime levels in terms of drug abuse and defacement. Encroachment of wildlife habitats and poaching are other globalization effect of interest that will like to research on. Paragraph 2: In the second paragraph, please answer the question â€Å"what do I want to know more about and what kind of sources will I need?† Make sure these are issue questions (Ex: Does snowmobiling actually cause environmental damage?). To provide context, please as information questions (Ex: Where is Yellowstone Park located?) as well. I would like to know more about the environmental ramifications of globalization. For this information, I will require peer-reviewed sources with extensive and substantiated research information, in addition to relevant books. My research questions

Law Essay Example | Topics and Well Written Essays - 1000 words - 11

Law - Essay Example Lastly, the paper will also make suggestion for the further changes to be made in the statute in the light of the changing needs and requirements of the social establishments during the contemporary times. Hence, the paper will provide an in-depth examination of assault in accordance with the statutes of law. It is a reality beyond suspicion that the states and political authorities have always been interested in devising schemes and implementing them in order to maintain law and order as well as to ensure the safety and protection of all members of society. For this purpose, statutes of laws are articulated and enforced for discouraging criminal acts and punishing the offenders, so that crime rate could be controlled in society. The devising of statutes and making amendments in them, for combating the assaults, has always been an essential part of the same campaign launched by the New York legislature and administration. The term assault simply refers to the violent attack on some individual, group or community out of mens rea or criminal intention with the aim of inflicting physical hurt or harm subsequently. Battery and maiming are taken to be the crimes almost identical to assault, which observe proximity with assault in nature and scope, as all the three maintain similar intention and consequences, though effects of the three could witness slight differences (Bryn, 1966:614-5). Battery actually is the occurrence of physical contact between the offender and offended, while maiming could be regarded to be the combination of both assault and battery. Hence, the court of law announces punishment in accordance with the damages appeared in the wake of committing of the offence (615-6). While discussing the elements attributed to assault, there must be mens rea behind committing of this crime, and the act has actually been performed, either it has caused severe harm

Shareholding versus Stakeholding Assignment Example | Topics and Well Written Essays - 1000 words

Shareholding versus Stakeholding - Assignment Example After suitable measures to overcome the conflict have been taken, the business climate of the enterprise will be readily acceptable by the public investing in the shares of the company. This may indirectly raise the prices of the shares, leading to the generating of profit of the shareholders. Another reason for the rise of the difference between the stakeholders and the shareholders is the lack of protection rendered to the third party. Thus it is very important for the managers to pay heed to the rising differences between the stakeholders and shareholders of the company. But the main issue that the company faces is whether to use single value objective function or balanced scorecard (Siems, 2007, p.180). The challenges faced by managers to be ‘socially responsible’ In the process of being socially responsible, managers face a few challenges, for example the process of value seeking rather than value maximizing. Therefore, through the achievement of the value seeking f unction, the confusion that leads to maximizing the value is difficult to overcome, as the way the world is structured is quite complicated. Under no situation can the maximization of the value of the managers be guaranteed, but the assurance can be given that the movement of the managers is in the right direction. The absence of the negative externalities in the input factor market does not lead to the rise in the opportunity cost of the firm. If the firm is still earning the social cost of the company, this may result in the dilemma caused to the managers during the performance of the social responsibilities. Self-serving manager exploiting social responsibility for his/her personal gain Sometimes the managers of the companies with a purpose of performing the social responsibilities tend to serve their personal gains. The reason behind this is the use of the stakeholder’s theory, through which the personal short run-interests of the shareholders are accomplished. Since a be tter criterion cannot be provided, the proper evaluation of the managers is not possible. Thus, by the application of the shareholders theory, the managers pursue their own interest at the expense of the firm’s financial claimants and the society at large. The directors and the managers use the resources of the firm for their own needs, such as art, medical research, etc. without being held liable for the expenditures caused to the company. As with the practice of the stakeholder theory the internal control system of the company is being hampered, hence arguments are being placed for the government intervention – anti-takeover provisions, for example – in these areas (Letza S., et al., 2004, p.247). Budgeting and strategic management accounting tools as an encouragement for shareholder or stakeholder centric focus Such accounting tools as budgeting and the strategic management, Balanced Scorecard, and the others had been a helpful encouragement in the focusing o n the shareholders and the stakeholders of the concerned country. These tools help decide to what standard the company should stick to avoid neglecting the interests of both the shareholders and the stakeholders of the company. With tools like budgeting and strat

Radical changes are needed in company reporting to cope with the rise Essay

Radical changes are needed in company reporting to cope with the rise of intangible assets. Discuss - Essay Example 1. Ability to be separately recognised: Since the asset can be separately quantified, relative commercial transactions such as sale, transfer or exchange could be carried out, Further, the creation of an intangible asset is out of an agreement or other legal imposition, 2. Ability to produce future benefits: Software development expenses is example of an intangible asset that has the ability to produce future benefits. For the same reason, special distribution and selling rights, trademarks and intellectual properties ownerships also constitute intangible assets Intangibles can be acquired either externally or through internal means. Intangible assets acquired externally are through buying, transfer or leasing process and the internally generated ones are established by way of the companies’ own efforts and market reputation. The main aspect to be considered with regard to intangible assets is that it must be compatible to quantitative analysis and future benefits. Whether the intangible assets are self generated or acquired externally. If this parameter is not met the investment would be â€Å"recognised as an expense when it is incurred [IAS 38.68]1† and not as an intangible asset. The aspect of intangible asset which is self generated refers to determination of goodwill and its accounting treatment. In real effect, goodwill represents â€Å"the excess paid for a firm over its adjusted net asset value.†2 (p.992). The goodwill amount refers to the special ability of the firm to generate revenue by way of its current market standing and also its future earning capacity. Goodwill is only seen in the context of business mergers and acquisitions representing the difference between the purchase prices and the net value of assets acquired. The aspect of goodwill in accounting cannot be undermined because â€Å"when Philip Morris acquired Seven Up for a price of $ 520 Million, approximately $ 390 million of the purchase price represented goodwill,†3

The Voice of Marvin Puryear Essay Example | Topics and Well Written Essays - 500 words

The Voice of Marvin Puryear - Essay Example Puryear draws on his direct experiences. He has a fascination with music and archery. His way of expressing those interests was not to try to sport, but to create the object of the sport itself. For example, he notes â€Å"If I became interested in archery, I made the bows and arrows; if I became interested in music, I made the guitar" (Benezra 140). Again, this statement by Puryear reinforces the premise that his sculptures are not the result of hard line education. If they were, then he would have mastered playing the instrument or the sport of archery rather than creating his own original vessel. The deception that can only be called Puryear is his ability to take the simple concept (Such as the Old Mole) and craft a vision without all of the trendy accoutrements that we see so often in modern art today. This too is the result of his emotional reaction to that which he experienced, rather than the formal education he received. Another example of what I view as a reactive piece is â€Å"Untitled†. The body of the object is open, free and seemingly transparent. However the face of the object appears to have the expression of recovering from a horrid event, yet knowing that there is still more. Simply stated, the face is heavy, as if carrying some sort of burden, while the body is completely unaffected. This too demonstrates pure emotion. As the saying goes â€Å"I can tell by your face something is wrong.† In conclusion, a review of Marvin Puryear’s pieces, demonstrate that interpretation can be found in emotion.

The Concepts of Communities of Practice, Practice Based Networks, Open Essay

The Concepts of Communities of Practice, Practice Based Networks, Open Innovation and Social Capital - Essay Example Today, the terms of organizational development have been differentiated. Innovation and learning have become key elements of organizational performance. In the past, innovation and learning were promoted using standardized policies, such as research and development, training programs and so on. Currently, the development of innovation and learning within organizations is mostly based on social networking. At the same time, concepts like communities of practice and social capital have been used for reflecting the key role of social networks in enabling organizations to learn and innovate. The above two concepts, the ‘communities of practice’ and the ‘social capital’ are compared in this paper. Their similarities and differences are presented and evaluated, using relevant literature. Moreover, the challenges that an organization is likely to face when participating in social networks are analytically discussed. It is revealed that social networking in critical for organizational success under the terms that it is aligned with the organizational ethics and culture. 2. â€Å"Communities of practice† versus â€Å"social capital† Communities of practice can be used along with other concepts, such as the ‘social capital’ concept, for highlighting the importance of social networking in promoting innovation and learning within organizations. However, the two concepts may be differentiated, as of their requirements or their priorities. This fact is made clearer by comparing the elements of ‘communities of practice’, as described above, with the elements of ‘social capital’. The first of the above concepts, the ‘communities of practice’ is based on the view that ‘learning starts with engagement in social practice and that this practice is the fundamental construct by which individuals learn’ (Wenger 1998, in Langer 2005, p.77). In the context of the above framework, th e achievement of organization’s goals is based on the initiatives of teams that have ‘a shared way of pursuing interest’ (Langer 2005, p.77). On the other hand, the term ‘social capital’ is used for reflecting two different functions: the promotion of specific social structures and ‘the facilitation of certain actions of the actors’ (Coleman, 1988, p.98). The term ‘actors’, as used above, implies both individuals and organizations (Coleman 1988). From another point of view, social capital can be characterized as ‘an asset that emanates from participation in social relations’ (Nielsen 2003, p.2). In other words, social capital can be a quite wide concept, reflecting all activities of individuals, as members of a particular organization. However, in the context of social capital individuals, as actors, are not necessarily members of a team, as in the case of the communities of practice, a fact that offers them a h igher flexibility in acting as they wish. Moreover, in accordance with Al-Ali (2003), employees tend ‘to form informal communities or networks all the time’ (Al-Ali 2003, p.91). These networks are used for the development of various organizational tasks, more or less important. This means that the control of organization over the rules and the form of communities of practice may be difficult, especially if they are used for supporting temporary organizational needs (Al-Ali 2003). Such problem does not appear in the

Trust is the key ingredient in leadership Essay Example for Free

Trust is the key ingredient in leadership Essay This weeks Assignment consists of viewing a scenario about Sandwich Blitz, Inc. , reading an article about integrity in leadership, and writing a two-page double-spaced paper. Integrity in leadership is absolutely essential. † In today’s world more companies are looking for people with integrity to head their organizations. † It is because of the lack of integrity that financial turmoil is happening in the world today. If you have integrity you will go somewhere in life. â€Å"Grenville Kleiser said, â€Å"You are already consequence in the world if you are known as a man of strict integrity. † Without integrity no real success is possible. â€Å"Trust is the key ingredient in leadership. If you cannot engender trust, you are unlikely to find many who are interested in following your lead. They assume that you are making the right choice based on ethics and proper morals. † Sometimes integrity may be considered an old fashioned word in businesses environment. Integrity is defined among other things as â€Å" being true to one’s values. † When a leader has a set of clearly defined values that determine the actions and decisions they take. Strong leaders must be consistent. Integrity breeds consistency by providing a clear set of principles to follow. With the proper amount of integrity a leader will follow through and do what is right. When integrity is maintained, positive results don’t need to be questioned or worried over. If you want to see successful leadership in your life you need to have integrity. â€Å"Integrity is what we, do, what we say, and what we say we do†- Don Gater. â€Å"Don Gater sums it up well in a short statement. As a man of integrity, your word is your bond. Integrity is an important part of leadership. Leadership is often clear as day when witnessed firsthand, without integrity a leader may find that no one is willing to follow him.

Improving Attendance in Statutory Education Essay Example for Free

Improving Attendance in Statutory Education Essay Under the Education Act 1996, the Council has a statutory duty to ensure children and young people receive fulltime, efficient education, which is suitable to the age, and ability and any special needs they may have. This is usually through attendance at school. The Education Welfare Service (EWS) is one agency which takes the lead role for the Council in supporting school attendance. It will do this through working with children and families, supporting schools and linking with other agencies including the legal system. The EWS will look at a whole range of ideas for why the children aren’t attending school and will look at solutions for this whether it be legal action or just working closely with all involved for example parents, teachers and the school. On the whole this is an extremely important agency which aims to get children into education and helps work out why they are not in education, however there are negative aspects to the agency as they may have to work closely with social services if the parents aren’t fulfilling there role and legal action may be taken again the parents aren’t fulfilling the responsibility although this is a negative aspect of the agency it is all in place for the overall well being of the child. Police can work with local schools and EWC, by undertaking local patrols to detect truancy and going to local areas where children may hide out. By having the police involved children and parents will be able to understand the severity of truancy and poor school attendance which is a positive outcome. This can then lead on to the Youth Offending Team (YOT) whose staff identifies school attendance issues and work actively to resolve them. The Council will work with agencies such as housing companies, Police, Connexions, YOT and voluntary organisations to develop protocols to identify children without school places. Overall these agencies are all there to help improve attendance in schools and all have the same aims, by working together with the school, agencies and organisiations the schools will be able to have the correct support in place for the children in and out of schools, parents and the teachers. The agencies are able to work out reasons for poor attendance and make sure issues are resolved. These organizations are here for a positive reason and to help children get the best education possible and cutting down on reasons for poor attendance. Explain the role of key individuals in improving whole school attendance. Educational Welfare officers- Once a child is registered at a school, it is the parents legal duty to make sure that the child attends school regularly. The role of Education Welfare Officers is to work closely with schools, children and their parents, and with agencies to make sure this happens. The educational welfare officers will work closely with these people to find out why children arent attending regularly and figure out soloutions to ensure this changes. If the parents fail to cooperate and the child does not return to regular attendance at school, the Education Welfare Service may issue a Fixed Penalty Notice or take legal action. Educational welfare officers can refer cases to other agencies such as social services, educational psychologists and health professionals. Ultimately their main responsibilities is to provide support to the children, the families and the school in all areas whether it to be advice on legal responsibilities, or building relationships between the school and the parents and making sure school attendance is at a maximum, if school attendance is not consistant then the educational welfare officers will look into reasons and solutions for this. Teaching Support Workers- Support teachers are in classrooms to support teachers in what they are trying to achieve, they are also there to help individuals who are in need of support when learning, Support teachers are able to give the individuals in need of help more time and focus to help them through areas of difficulties. Having Teaching supports workers available will therefore mean children will feel supported in weak areas and therefore more progress will be made by children which will also boost confidence. Children who are falling behind or children who do not understand specific areas of what they are being taught can become embarassed and withdrawn whilst lacking confidence this could lead to poor behaviour meaning suspension,exclusion,detention or missing school to avoid feeling embarrassed around peers. Having teaching support workers available will mean weak areas can be taregeted and help provided much quicker than just having one teacher in a classroom. Teaching support workers will be able to have the relevant training and guidance to help identify children who are struggling. These are people who are their to support children with any behaviour or learning needs. Headteachers- Most of the duties of a headteacher is managerial and to make sure the school is running properly whilst also making sure everything necessary is provided for staff and pupils. Head teachers will need to make sure specific training is given to identify children who are struggling, making sure there are policies and procedures in place and followed by staff to prevent bullying and equal opportunities. By making sure the children have the mose valuable expreience possible at school and working with children, parents and other agenicies to make sure everything is in place to keep attendace high, if children are struggling the support teacher are in place, if bullying is happening then this needs to be resolved quickly before the child becomes withdrawnand lacks confidence leading to poor attendance. The head teacher will be able to use educational welfare officers and other agencies to help find ways of improving the school and making sure all areas of a childrens welfare are covered and the child is offered the support needed to enjoy school and attend school attaining the best qualifications possible. Special Educational Coordinators- The Special Educational Needs Co-ordinator (SENCO), in collaboration with the head teacher and governing body, plays a key role in determining the strategic development of the Special Educational Needs (SEN) policy and provision in the school to raise the achievement of children with special educational needs. The SENCO takes day-to-day responsibility for the operation of the policy and co-ordination of the provision made for individual children with special educational needs, working closely with staff, parents and carers and other agencies. By having the special education needs co-ordinator this will mean that full support will be given to children in school meaning the chilldren can work to the maximum and achieve the most out of school with the full support and help from the teachers. This will also mean that children wont be embarrassed because they cannot keep up or understand the work and should hopefully stop the children turning to negative behaviour like missing school. This will enable the school to give the children the best experience possible with the best possible outcomes and increased attendance therefore increasing grades attained by children. Explain strategies that can be used to improve the attendance of individual children and young people and whole school attendance Have an attendance policy in place make sure the children are fully aware of the steps that will be taken in cases of non attendance. Whilst making sure that parents follow the procedure for days that children are of sick. Keep parents involved and build relationships with the parents using head teachers and teachers so that they are aware of any problems that maybe underlying at school at the present time which my result in non-attendance. It is also vital to make parents aware of any positive achievements that their son or daughter has achieved. Support available, makes sure that any children struggling in specific educational areas are identified as quickly as possible so that all relevant support and help can be put in place to help the child in the specified area. The school can work in partnership with the educational welfare officer and the local authority to help target specific areas of need. Use rewards and incentives to encourage attendance and punctuality such as certificates for high attendance and increased incentive for the higher attendance and punctuality as the year progresses. Once a child has been absent from school make sure they reintegrate into the school positively. Making sure teachers check they are ok, provide any missed work and provide a support group making sure this is available to the children if they need to talk-for example counselors. Use attendance checks to keep on top of and monitor all attendance for children this will help to discover any patterns in non attendance and help the school find a solution to this quicker therefore benefiting the children. Raising the profile of attendance so if a child fails to attend sending a letter out to parents straight away to make sure they are aware of this or asking for a reason why there was no attendance if the attendance falls below a certain level. Schools can use newsletters and parents evenings to bring this to parents and children’s attention.

The Purpose and Objectives of Annual Reports

The Purpose and Objectives of Annual Reports The literature review section talks about the background of research being undertaken. It provides an illustration about the importance of the different sections of the annual reports and the qualitative characteristics of information that make it useful for users of accounting information. Hence, it outlines on the previous research done on the study of annual reports and the importance of annual reports to users who have a reasonable knowledge in business, economics and accounting. The main purpose of annual reports The purpose of the annual report is to inform shareholders as to the financial status of a company. Coy and Pratt (1998) conclude that the annual report serve as a communication tool and determines the reality of the organization in the public mind. However for this reality to be recognized, it depends on the quality of information provided in the annual reports. Annual reports are extremely significant sources of company information (Stanga,1976). Furthermore studies by Chang and Most (1985) and Hawkins and Hawkins (1985) concluded that even though individual investors do not find the annual report useful in decision making and do not meet their information needs, still the annual report is the document used as reference for investors and managers. Though annual report is not the only source of information for a company, as in New Zealand newspapers and magazines were also found as a source of information, nevertheless the annual report is considered to be an important resource due to its large reporting and availability. Therefore the fundamental aims of preparing financial reports are for decision making and accountability. Accountability Annual reports are considered as the main accountability mechanism. In 1975, the American Accounting Association (AAA) defined the purpose of accounting as to provide information for making useful economic decisions and which, if provided will increase social welfare. Thus annual report can be one tool for communicating economic information to allow update decisions and judgements by users. According to Stanton and Stanton (2002) the annual report uses the tools of management, marketing and communication theory to construct a picture of the organization. Thus, annual report is a tool for a firm to classify its accountability for managing and controlling business activities. Moreover, a number of researchers (Winfield, 1978; Chang and Most, 1985; Boyne and Law, 1991), have noted the importance of annual reports as a vehicle releasing accountability. Furthermore accountability is involved in the monitoring, evaluation and control of organizational agents to make sure that they perform in the welfare of shareholders and other stakeholders (Keasey and wright,1993). It can be classified as a requirement for one party to another party for its performance over certain time. In short, accountability is simply a must to report upon as it gives an extent to which an entity has met its responsibilities towards its owners and to fulfill this role, financial reports should reflect the nature and extent of performance that are related to the entity. Moreover accountability requires broadening the capacity of disclosure beyond the financial focus to ensure that adequate and meaningful qualitative information is also contained in the annual report. Besides, the owners of the companies, the shareholders, have a right to know what actions and what developments are taking place within the organization. Thus, the organizations are accountable to its shareholders and the annual report plays a great role in conveying the firms performances to them. Decision making As per IAS 1, the financial statements objective is to offer and inform the performance and the evolution of the financial situation, that could be helpful to a wide range of potential users for evaluating and making economic decisions .It is further claimed that, when the general purpose of financial reports meet this objective, they will also enable entities to discharge accountability. Consequently the first aim of the Trueblood Report is the provision of information for economic decision making is being interpreted as being the primary function of financial statements. Hence financial reports should seek to satisfy the information needs of users. In 1989, the Solomons Report, commissioned by the ICAEW (1989) reaffirmed that decision usefulness is the fundamental aim of financial reporting. Financial reports should provide information that will be accommodating to several users who have interest in financial performance and making decisions about investing and lending. Gray (1994, pp9), have proved that accounting literature is presently dominated by the idea of decision usefulness which mean that financial reporting will have to be maintained in order to meet the need of all users of accounting information. It is seen that nowadays there has been a rise in the users of accounting information for decision making hence objectives of annual reports are regarded as the major means by which companies distribute information to the external users (Firth, 1979). OBJECTIVES OF ANNUAL REPORTS According to FASB the main goals of annual reports can be classified in three parts: Objectives for making potential economic decisions; Objective of providing information about the financial position, performance and changes in financial position of an entity; Objectives for presenting and disclosing of information. Hence it is the attributes of the qualitative characteristics that make accounting information to be useful in annual reports. Characteristics of accounting information The quality of the information provided in annual reports determines the usefulness of those reports to users. FASB and the IASB propose that if Financial Statement setters study the standards and qualitative features in the process of preparation of financial statements only then the financial station would give the true and fair view. Many researchers like (Alford et al. 1993, Amir et al. 1993, Banyopadhyay et al. 1994, Harris et al. 1994, Joos and Lang 1994, Barth and Clinch 1996, Joos 1997, Lewitt 1998 and Pope and Walker 1999) had conduct studies with the aim to identify higher quality as it is related to the ability of financial statements to pass useful information to the users. Hendriksen and Van Breda (1992, P.123), has described qualitative characteristics as components of accounting information which lean to improve its usefulness. The Corporate Report of the Accounting Standards Steering Committee, Institute of Chartered Accountants in England and Wales (ICAEW), (1975) has identified seven qualitative characteristics viewed as desirable to make the annual reports useful: relevance; understandability; reliability; completeness; objectivity; comparability; timeliness. Relevance Relevance refers to the capacity of information to influence the decision making process of users. The Solomons Report (1989) has emphasized on this point: Relevance must come first, for if information is irrelevant, it does not matter what other qualities it has. FASB Concepts Statement 2,says in paragraph 27, to be relevant accounting information must be able to make a difference in a decision by facilitating users to form predictions about the result of past, present and future events. It also proposed that there is a trade-off between relevance and reliability that is accounting information should be both relevant and reliable. A number of research by Stanga (1980), and Mores and Duncan (1988) have already been conducted to deal with the issue of relevance and reliability and that optimistic association exists between the two, with minimum levels of reliability necessary to achieve relevance. UNDERSTANDABILITY Understandability is viewed as a user-specific property in the FASB model. Information cannot be useful to decision makers who cannot understand it, even though it may otherwise be relevant to a decision and be reliable. Information is understandable when users will be able to reasonably grasp its meaning. Thus useful information should be capable of being understood by users with reasonable knowledge of business and accounting and the way information is presented in annual reports. In addition, researchers like Subramanian, Insley, and Blackwell (1993), had evaluated the relationship between the performance of companies and the readability of their annual reports, concluding that the annual reports of companies that done well were easier to read than those of companies that did not perform well. RELIABILITY Reliability involves the completeness of information. Information is reliable when it is free from material error and bias and can be depended upon by users to signify faithfully. FASB has also concluded that verifiability is a major factor of reliability. Verifiability is the ability through consensus among measurers to guarantee that information represents what it purports to represent. It also focuses on whether a particular basis of measurement is properly pertained, rather than on whether it is appropriate. While Lev and Thiagarajan (1991) , got proof that the market does not retort to certain balance sheet information results of other studies suggested that it may wait until the balance sheet information shows up in future earnings which make accounting information more verifiable and reliable. COMPLETENESS Good Accounting information is complete when it provides all its potential users with all the required information that are vital to fulfill their needs and requirements. Moreover reported information in annual reports should provide a complete image of the activities of the organization. Completeness is also when all transactions and events that should have been recorded have been recorded and classified properly. It also assumed that there will be no error of omission in the information. Thus information in the financial reports must be complete within the bounds of materiality and cost is a vital element of faithful representation. OBJECTIVITY According to Hines (1991), it is in the benefit of accounting profession to publicly produce information that is objective. Financial information being objective means it should be free from bias in accounting decisions and shall be a measurement of having supporting proof. In other words together with objectivity, information should be both reliable and uniform. COMPARABILITY Comparability is the quality of information that allows users to identify similarities in and differences between two sets of economic phenomena. Moreover compliance with accounting standards helps to attain comparability. Thus, information about an entity gains more importance if it can be contrasted with similar information about other entities and with similar information about the same entity for some other period or some other point in time. Comparability is different from consistency because comparability is the goal while consistency is a means to achieve that goal. Users must be informed of the accounting policies used in the preparation of financial statements, any changes in those policies and the effects of those changes. However it is argued that any consideration of comparability must come after relevance and faithful representation. As noted by Sterling, Robert, R (1985), Comparability alone cannot make information relevant. TIMELINESS Timeliness is considered an ancillary aspect of relevance. Timeliness is about having relevant information available sooner before it loses capacity to influence decisions. Kross and Schroeder, (1984), indicated that the timeliness of annual reports is relative to the abnormal return around the release date of reports, corporations that released their annual reports earlier held higher cumulative abnormal returns than that of later releases. Researchers like Dyer Iv, and McHugh (1975),Whittred (1980) and Dwyer, and Wilson (1989), found that timeliness is affected by factors reporting lag such as auditing opinion, profitability and company size. Therefore the use of technology may enhance position of all users and improve regularity of timeliness with which information is received. In addition to the qualitative characteristics mentioned above, there is two more qualities proposed in the accounting literature which is essential; they are faithful representation and materiality. FAITHFUL REPRESENTATION Faithful representation is attained when information is representing faithfully the transactions and other actions it either claims to represent or could reasonably be expected to represent. However faithful representation does not mean total freedom from error in the representation of an economic phenomenon because economic phenomenon presented in financial reports is normally evaluated under conditions of uncertainty. Thus, to attain a faithful representation, it sometimes may be essential to clearly disclose the degree of uncertainty in the reported financial information. MATERIALITY Materiality does not involve only relevance but also faithful representation. Information is material if it could persuade users decisions taken on the basis of the annual reports. Materiality depends on the nature and amount of the item in case of omission or misstatement. It forms the threshold for recognition of information and only material information is contained in the annual reports. According to SEC (1999), is a symmetric in emphasizing that small misstatements may be material for qualitative reasons but SAB 99 is silent on whether, and when, a quantitatively large error could be immaterial, (Taub 2007). Thus, many registrants and practitioners consider that this guidance prevents judging quantitatively large misstatements to be immaterial. COMPONENTS OF ANNUAL REPORTS The annual report encloses a huge amount of information about a company. As formal communication documents the annual reports also contains quantitative information, narratives, photographs and graphs. There have been several survey-based studies in accounting conducted that the annual reports is useful source of information (e.g., Briggs, 1975; Lee and Tweedie, 1975, 1976,1981; Anderson and Epstein, 1995; Abu Baker and Naser 2000; Ho and Wong 2004). Ho and Wong (2004) conducted a research in Hong Kong and concluded that annual reports are consisted of high value of information in comparison to other sources, even though the respondents are not fully satisfied with the amount of information disclosed. Thus in Mauritius, the section 221 of the CA 01 specifies the contents of an annual report. Hence it includes the following: Chairmans Report Lee and Tweedie (1975), Barlett and Chander, 1997, p.246 found that the most common read sections of the annual reports is the chairmans statement .This was attributed to the simplicity of the chairmans report, which clarifies the more technical information, contained in other parts of the report. On the other hand, Wilton and Tabb(1978) surveyed about 300 shareholders and concluded that the chairmans report was the most widely read followed by the income statement. However, Barlett and Chander have also disclosed that the majority of respondents in their sample desired less information in the form of a summary report rather than the annual report itself. Directors Report The Directors report supply useful information to investors about the activities of the company, the dividend policy and information about the decision makers of the company. Anderson (1998) spot out that despite majority of investors found the basic financial statements to be most valuable, the most thoroughly items read in the annual report are the directors report. Lee and Tweedie (1975) found that the executives report was of great to less importance, over one-third of the respondents believed the directors report to be of no value. Corporate Governance Report Corporate governance (CG) has been a foremost policy issue in developed market economies for more than a decade. Hashim (2009) defines CG as a combination of processes and structures conducted by the board of directors to authorize, direct and oversee management towards the achievement of the organizations objectives. The Report on Corporate Governance for Mauritius, states that companies that are listed on the Stock Exchange of Mauritius shall abide to all provision of the code and there should be a separate corporate governance section in the annual report. Dividend policy, Directors profile and going concern of the corporate governance report might be useful to user of accounts. Shareholders will attain valuable information about the amount and timing for payment of dividends declared by the company. On the other hand the disclosure of the qualifications and experience of the board members is useful to investors as such information specify that people with required experience, qualifications and integrity are managing the company hence it boost up the confidence of shareholders. Cohen, Krishnamoorthy and Wright (2004) recommend that CG can be one of the main functions in ensuring the quality of financial reporting. Auditors Report The auditors are required to report to the shareholders of the company as to whether in their opinion the financial statements have been prepared accordingly with the accounting standards and whether they give a true and fair view of the transactions of the company. The fundamental aspects of an Auditors report are set by ISA 700-The Auditors Report on Financial Statements. This ISA gives guidance on the type and content of the auditors report as a result of an audit carry out. The auditors report was the most understandable section of the annual report while the balance sheet was the forth (Nasser and Rutherfords 1996). Hence it is useful to users of accounts as it offers assurance that the users are making economic decisions based on reliable information. However, Bartlett and Chandler (1997) found that the auditors report was read the least by individual shareholders. Corporate social responsibilities (CSR) CSR can be described as the process of communicating the social and environmental effects of organisations economic actions to particular interest groups within society (Gray et al 1996 p.3). Corporate social disclosure is referred as the provision of financial and non financial information that intend to discharge social accountability of an organisation (Gray et al 1987).Gelb and Strawser (2001) states that CSR disclosure is a form of socially responsible behaviour, thus by providing more information to the public will help companies to meet their responsibilities towards their stakeholders in a better manner. However research studies have shown that most users use the information of financial statements for financially based decisions. IAS 1, of IASB, 2004: (para.7) states that the objective of financial statements is to provide information about the financial position, financial performance and cash flows of an entity that is useful to a wide range of users in making economic decisions. So the financial statements are made as follows: Statement of financial position Statement of comprehensive income Statement of changes in equity Statement of cash flow Notes to the accounts Statement of financial position This statement provides a snapshot summary of what a business owns or is owed-assets-and what it owes-liabilities-at a particular date thus it is referred as a statement of net worth. It shows how solvent a business is, how liquids its assets are and how much capital is being spent. It also consists of non-current assets, current assets, capital and reserves, non-current liabilities and current liabilities. The non-current can be classified as assets that are not quickly and easily realizable, and current assets are assets that can be readily convertible into cash within a short time. Furthermore share capital represents amount receives in respect of shares issued by a particular company, non-current liabilities and current liabilities are obligations that are not aimed to be liquidated within a year and one that are expected to be settled within one year respectively. Statement of comprehensive income The main purpose of the comprehensive income statement is to report a companys earnings over some pointing period of time. This statement reflects the companys revenues, expenses and earnings; it gives information about the financial performance of a company. Users of accounts who are concerned about the profitability can obtain relevant information in the comprehensive income statement and they can make use of ratios to take out information they need therein. Statement of changes in equity IAS 1 requires that companies should prepare a statement of changes in equity to be presented with the same value as the other primary statements. According to Barry and Jamie Elliot this statement is vital because a quantity of gains and losses are required by law or accounting standards to be managed through directly with reserves, so as to prevent the financial statement from being incomplete. The shareholders acquire more information about any changes made to share capital, retained earnings, revaluation reserves, share premium other reserves and to proposed dividends. Sometimes gains and losses may be easily traced by reserve accounting, which permits items to bypass the income statement. Hence the statement of changes in equity provides more transparency in reporting these gains or losses. Statement of cash flow Section 217 of the CA 01 requires all companies to include in their annual report a statement of cash flow and the latter should be prepared in accordance with IAS 7. The purpose of IAS 7 is to include the provision of information about the historical changes in cash and cash equivalents of a company by means of a statement of cash flow. Cash flow statement has become useful sources of information for users (Day (1986) and Yap (1997)). Thus cash flows are classifies during a period from: operating activities-the cash effects of transactions concerning trading activities; investing activities-cash flows from the purchase and sales of non-current assets and short term investments; financing activities-involve receipts from or refund to external providers of finance in respect of the primary amount. Notes to the accounts Notes to the accounts can be refers as explanatory notes that accompany the financial statements. These are intended to give further detail of the items appearing in the financial statements, to provide surplus information, to represent attention of related party transactions and to give existence of interest to stakeholders, other than the shareholders. It includes the IAS, concepts, depreciation policies and methods of valuation that an entity has used. Furthermore studies conducted by Anderson (1981), found that the most readable sections of the annual report were seen to be the balance sheet, profit and loss account, notes to the accounts, and the chairmans statement respectively. The comprehensive income statement, however, was seen to be more essential than the balance sheet. However this author failed to carry out any test whether there are major differences between the users usage of annual reports sections and on the other hand observed its importance of those sections. Epstein and Pava (1993) has developed on the work of Epstein (1975) and found that there has been an increased in the importance of annual report as a source of information. Furthermore, they found that the importance of the balance sheet had extended, and that over the same period the perceived usefulness of the income statement had declined. Anderson and Epstein (1995) argued that in Australia they found that the comprehensive income is more useful in making an investment decision rather than the directors report. In this respect the respondents had also demand for simplification and more explanation of the balance sheet, statement of cash flow, and the income statement. In another study by, Abdelsalam (1990ÂÂ ­) it was highlighted that the comprehensive income and information about the future of the company as well as information about directors was seen to be important part of the annual report. Ba-owaidan (1994) also found the profit and loss account to be the most influential part of the annual report followed by the balance sheet but has also concludes that some respondents faced some problems in understanding the contents of the annual reports. The Kruskal Wallis test revealed that the cash flow section was the only section of the annual report that the user groups have significant differences regarding its value. This is not surprising as the findings reported by Lee and Tweedie (1975), Wilton and Tabb (1978) and Yap (1997) for developed countries disclosed that individual and institutional investors have little interest in the cash flow statement and may not rely upon, as they are not a sophisticated group. In New Zealand, Chang and Most (1985), disclosed that newspapers and magazines were the preferred source of information and the comprehensive income statement was found as the main statement in the annual report for decision making. Moreover, Anderson (1979) and Courtis (1982) also found that the balance sheet and the profit and loss statement were regarded as the two most essential statements for decision-making. In addition, Anderson and Epsteins (1997) study revealed that in Australia, New Zealand and US, the comprehensive income and financial position statement were ranked as the most essential items but the cash flow was less important to New Zealand and Australian investors than to US respondents. Moreover, Stephen L.Buzby carried a research in 1974 on the usefulness of annual reports and his aim was to find the perceptions of professional financial analyst on selected items in the annual reports. To summarize Daniels and Daniels (1991) found that information present in financial statements is important and very useful but not sufficient enough to evaluate the financial condition of a company. USERS OF ACCOUNTS According to IASB, financial information is prepared for users, presuming that they have a reasonable knowledge of business and economic activities and accounting and a willingness to study the information with reasonable diligence. The different users and their needs are identified below: Investors Investors need information to decide whether they should continue to invest in an entity, to assess whether that particular organization will be able to pay out dividends as well as how the enterprise has been managed. The investors require information about profitability, volumes, sales, amounts invested, assets owned, share price and information about competitors. Epstein and Pava (1993) document that individual investors demand for more financial and non financial information in the annual reports. Shareholders Shareholders are the owners of the company. Thus, they have the right to receive dividends from the companys profit. Information in annual reports is very important to shareholders as profit acts as an indicator of the amount of dividends they ought to obtain. According to Cook and Sutton (1995), companies should prepare summary annual reports based on information requirements of shareholders in order to satisfy their needs. Thus, companies should disclose essential piece of information in a clear and understandable format that will enhance the relevance and value of annual reports in communicating company information to shareholders. Lenders and Financial institutions Lenders such as insurance companies, pension funds use FS information to decide the loan amount, the interest rate and security needed for business loan and they should also make sure whether the company would be able to repay back both the principal amounts and the interests payments. The key accounting information for lenders is therefore: Cash flow Investment requirements in business Thus such information required by lenders is available in the annual report. Employees Employees demand annual report for the stability and profitability of the business. They are interested in information about employment prospects, security of their jobs and retirement benefits. Furthermore, Clark and Craig (1991) conclude that relevant information for investors is also relevant for employees. Government The government group makes use of an annual report for tax purposes. The tax authorities such as the Inland Revenue needs information on the profitability of an entity to levy corporation tax and custom and excise make use of information to check VAT returns. Hence tax authorities use FS information as a source for enhancing social welfare by establishing tax policies. Public The public are usually considered as stakeholders and businesses form part of society at large and as a result create much public interest. Marston and Shrives (1991, pp196), found annual report as the main document available for the public thus is being regarded as the main disclosure vehicle. Moreover despite some improvements has taken place in reporting in recent years, the users groups of annual reports wish to have more information than is currently provided (Abu-Nassar and Rutherford, 1996; Hatif and Al-Zubaidi, 2000; Naser and Nuseibeh, 2003). On the other hand, Dye and Bowsher (1987) concluded that most users seek an annual report to include other information that will enhance their understanding. Hay and Antonio (1990) found that users demand for highly detailed disclosures in annual reports. In addition users want information on future prospects, company products, publication of quarterly reports and management audit reports (Anderson 1981). Furthermore Benston (1976) reported that annual report were the least important source of information compared to financial press and newspaper reports. In summary, results from preceding studies shows that users believed that annual reports is the main sources of information; though each section was not considered as of equal significance. The results also disclose a necessity to establish some changes to the annual reporting that allow the information to be more understandable and sufficient for potential users.

Franklins Road To Humility Essay -- essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ben’s Autobiography begins in humility and ends in humility. He is born into a modest family being the youngest son of the youngest son for five generations back. He finishes part two with the modesty of an accomplished elder. However, in between it is full of arrogance and pride. During his early years (part 1 of The Autobiography), Ben’s diligence and thirst for knowledge continuously put him in comforting situations. Unfortunately he repeatedly allows his good fortunes to bring about his youthful pride and arrogance, sometimes to a point where they compromise his decision making. This in turn causes some sort of misfortune or mishap to occur, which humbles him. Ben Franklin shows us that humility is a continuing process that one learns overtime and through his own experiences. A person who has acquired the reality of the virtue never admits it because he doesn’t know it. A person with the reality of the virtue will in fact deny it, because of the nature of humility. Upon reading the Autobiography I came to the notion that during his youth and onto early adulthood, Ben was acquiring the appearance of the virtue of humility. However; in his elder years, the reality of the virtue is indisputable.   Ã‚  Ã‚  Ã‚  Ã‚  The first instance in which the appearance of humility is evident is when Ben decides to get into the habit of expressing himself in Terms of Diffidence (page 333). When saying anything that could be disputed, Ben didn’t use words that gave the â€Å"air of positiveness to an opinion,† he instead said things like, I conceive, it appears to me, and it is so if I am not mistaken. Ben’s manner of speaking showed the appearance of humility but lacked the reality of it. The reason he spoke like that was because, â€Å"it procur’d them a readier reception and less contradiction.† Made it easier for Ben to argue and get his point across, no humility in the heart.   Ã‚  Ã‚  Ã‚  Ã‚  In one instance Ben’s youthful self-regard and dignity forced humility upon him. When Sir William Keith proposed a business deal with Ben, he jumped at the opportun... ...ith it, beat it down, stifle it, mortify it as much as one pleases, it is still alive, and every now and then it will peep out and show itself.† Even the most humble man has instances where his pride will show itself. Those are not the times to judge him, those are the times to teach him. Only the man who has truly acquired the reality of humility will learn.   Ã‚  Ã‚  Ã‚  Ã‚  This autobiography has been read by many and can be interpreted in many different ways. The point of view here is that humility is gained through experience, knowledge, and the learning of mistakes. As Ben grows up we see him mature into an intelligent young man who is trying his best to cope with his situation. At times it may seem like he possessed no humility. But we must remember that he was very young when he was encountering these compromising situations. Sometimes he dealt with the situations like an adult, thinking the situation through, other times ignorantly like a child. It is evident that as he was getting older and Ben was acquiring the appearance of the virtue of humility throughout and acquired the reality of it in his elder years.   Ã‚  Ã‚  Ã‚  Ã‚   Franklins Road To Humility Essay -- essays research papers   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ben’s Autobiography begins in humility and ends in humility. He is born into a modest family being the youngest son of the youngest son for five generations back. He finishes part two with the modesty of an accomplished elder. However, in between it is full of arrogance and pride. During his early years (part 1 of The Autobiography), Ben’s diligence and thirst for knowledge continuously put him in comforting situations. Unfortunately he repeatedly allows his good fortunes to bring about his youthful pride and arrogance, sometimes to a point where they compromise his decision making. This in turn causes some sort of misfortune or mishap to occur, which humbles him. Ben Franklin shows us that humility is a continuing process that one learns overtime and through his own experiences. A person who has acquired the reality of the virtue never admits it because he doesn’t know it. A person with the reality of the virtue will in fact deny it, because of the nature of humility. Upon reading the Autobiography I came to the notion that during his youth and onto early adulthood, Ben was acquiring the appearance of the virtue of humility. However; in his elder years, the reality of the virtue is indisputable.   Ã‚  Ã‚  Ã‚  Ã‚  The first instance in which the appearance of humility is evident is when Ben decides to get into the habit of expressing himself in Terms of Diffidence (page 333). When saying anything that could be disputed, Ben didn’t use words that gave the â€Å"air of positiveness to an opinion,† he instead said things like, I conceive, it appears to me, and it is so if I am not mistaken. Ben’s manner of speaking showed the appearance of humility but lacked the reality of it. The reason he spoke like that was because, â€Å"it procur’d them a readier reception and less contradiction.† Made it easier for Ben to argue and get his point across, no humility in the heart.   Ã‚  Ã‚  Ã‚  Ã‚  In one instance Ben’s youthful self-regard and dignity forced humility upon him. When Sir William Keith proposed a business deal with Ben, he jumped at the opportun... ...ith it, beat it down, stifle it, mortify it as much as one pleases, it is still alive, and every now and then it will peep out and show itself.† Even the most humble man has instances where his pride will show itself. Those are not the times to judge him, those are the times to teach him. Only the man who has truly acquired the reality of humility will learn.   Ã‚  Ã‚  Ã‚  Ã‚  This autobiography has been read by many and can be interpreted in many different ways. The point of view here is that humility is gained through experience, knowledge, and the learning of mistakes. As Ben grows up we see him mature into an intelligent young man who is trying his best to cope with his situation. At times it may seem like he possessed no humility. But we must remember that he was very young when he was encountering these compromising situations. Sometimes he dealt with the situations like an adult, thinking the situation through, other times ignorantly like a child. It is evident that as he was getting older and Ben was acquiring the appearance of the virtue of humility throughout and acquired the reality of it in his elder years.   Ã‚  Ã‚  Ã‚  Ã‚  

Othello †where Imagery Abounds :: Othello essays

Othello – where Imagery Abounds  Ã‚        Ã‚  Ã‚   The playwright William Shakespeare included plentiful imagery in the tragedy Othello. In this essay we shall analyze and comment on what is offered in the play.    H. S. Wilson in his book of literary criticism, On the Design of Shakespearean Tragedy, discusses the influence of the imagery of the play:    It has indeed been suggested that the logic of events in the play and of Othello’s relation to them implies Othello’s damnation, and that the implication is pressed home with particular power in the imagery. This last amounts to interpreting the suggestions of the imagery as a means of comment by the author – the analogy would be the choruses of Greek tragedy. It is true that the play contains many references to â€Å"heaven and hell and devils.† as Wilson Knight has pointed out. But Mr. Knight has wisely refrained from drawing the conclusion that Shakespeare means thus to comment upon Othello’s ultimate fate. (66)    The vulgar imagery of the ancient dominate the opening of the play. Francis Ferguson in â€Å"Two Worldviews Echo Each Other† describes the types of imagery used by the antagonist when he â€Å"slips his mask aside† while awakening Brabantio:    Iago is letting loose the wicked passion inside him, as he does from time to time throughout the play, when he slips his mask aside. At such moments he always resorts to this imagery of money-bags, treachery, and animal lust and violence. So he expresses his own faithless, envious spirit, and, by the same token, his vision of the populous city of Venice – Iago’s â€Å"world,† as it has been called. . . .(132)    Standing outside the senator’s home late at night, Iago uses imagery within a lie to arouse the occupant: â€Å" Awake! what, ho, Brabantio! thieves! thieves! thieves! / Look to your house, your daughter and your bags!† When the senator appears at the window, the ancient continues with coarse imagery of animal lust: â€Å"Even now, now, very now, an old black ram / Is topping your white ewe,† and â€Å"you'll have your daughter covered with a Barbary horse; you'll have your nephews neigh to you; you'll have coursers for cousins and gennets for germans.† Brabantio, judging from Iago’s language, rightfully concludes that the latter is a â€Å"profane wretch† and a â€Å"villain.†    When Iago returns to the Moor, he resorts to violence in his description of the senator, saying that â€Å"nine or ten times / I had thought to have yerk'd him here under the ribs.

Skills Required for Effective Time Management Essay -- essays research

Time management is a key essential that ensures any working environment runs efficiently and smoothly, without it there is no structure to your working day. If time management can be mastered then your workload can be achieved successfully. In this essay I will examine a number of the skills required for effective time management. Planning is of the utmost importance in time management, without it we don?t have a clear vision of what needs to be achieved and within what time frame. It is therefore vital that this is the first step, and in order to ensure you cover all areas that require your attention. Planning Planning your day or week can be daunting to many people. Some managers are born to it and some will struggle. To prevent or reduce stress within the office environment planning is essential. It can be categorised as short, medium or long term. Short term can be classed as a day or week, while medium is normally weeks leading to a few months. Long term tends to be several months perhaps leading to a year. So the first and obvious step is to put a time frame in place, and ensure that you use planning aids to mark your progress. Planning aids come in various forms. Diary?s and wall charts are very useful, especially for ?at a glance? scheduling, and will assist the manger during the normal working day. Diaries are a good start as they come in various styles e.g. day to a page or week to a page, the latter I prefer as it gives me an oversight as to what?s happening during the week. Wall charts again come in various designs and display the whole year. Colour coding the days wit h the relevant colour key can at an instance enable you to see the overall picture, and can also be used in conjunction with your dia... ...and are clearly taken for granted is e-mail and the telephone. E-mails can be set up to be received in various colours to indicate your superiors or colleagues. E-mails should only be looked at first thing in the morning and again in the afternoon, this prevents you being distracted and allows you to concentrate on the goal in hand. Telephone calls can be a nuisance if not controlled. Go straight to the point and if possible inform the caller of any time constraints. If feasible an answer machine can be utilised so you can filter out those unimportant calls, of course a message on the answer machine rather than an automated reply is more user friendly. In conclusion time management is a very important tool for modern day managers. With it managers can ensure efficiency is at the highest level with continual improvements with in any office or organisation.

Tourism in India

www. Yesbank. in The Travel and Hospitality Industry India’s travel, tourism and hospitality industry is one of the fastest growing service industries in the country thanks to a burgeoning middle class, increasing purchasing power, a rising inflow of foreign tourists, and successful government campaigns promoting ‘Incredible India'. In 2011 alone, travel and tourism contributed to 6. 4% of the GDP, and is forecast to rise by 7. 3% in 2012. In terms of employment, travel and tourism directly supported 24,975,000 jobs (5% of employment) in 2011, and is expected to rise by 3% in 2012. Also read: Importance of Advertising in Tourism IndustryForeign Exchange Earnings (FEE) from tourism in 2011 were $16,564 million with a growth of 16. 7% over 2010. 14 Clearly, India is fast becoming a popular tourist destination world over. Between April 2000 and December 2011, the hotel and tourism sector generated a total of $3,195. 70 billion in Foreign Direct Investment (FDI). 15In 2011 alone, the country welcomed 6. 29 million foreign tourists, compared to 5. 78 million in 2010. 16By 2022, international tourist arrivals are forecast to total 11,276,000, generating an expenditure of `1,382. 6 billion. 7 In 2010-11, the travel and hospitality industry faced the challenge of a significant decline in corporate travel due to serious cost cutting by global corporate houses, as well as the fear of terrorism, and a lack of a sense of safety post the 2008 Mumbai terror attacks. However, the hospitality sector has shown resilience, improving its security management and performance. With the growth of budget hotels along with low cost airlines, online travel bookings, and group travel, SMEs in the travel and tourism sector have shown rapid progress.They have been targeting niche markets specializing in corporate travel, leisure travel, and even hitherto unheard services like wedding travel and planning. â€Å"IATA statistics show that today, maximum business is generated in Asia. Asia and particularly India now have a major role to play in shaping this sector while also enjoying maximum share. However, with more disposable income, Indians prefer to travel overseas rather than within the country.We have over 14 million Indians traveling overseas, but the figure for inbound tourism stands at a dismal 6 million – this can definitely increase if we begin to seriously promote India as a destination to be explored and discovered. †, says Vivek Dadhich, Managing Director of Noida-based Bluemoon Travels, a new age travel company offering leisure travel and MIC E – travel planning services for Meetings, Incentives, Conventions, and Exhibitions. As per an analysis done by retail consultancy Technopak, at the end of 2010 the Indian hotel industry’s worth was estimated around US$ 17 billion.The share of hotel and restaurant sector in the overall economy is still below 2 per cent. For the last five years the total contribution of the hospitality sector has remained stagnant. Although the overall share increased from 1. 46 per cent in 2004-05 to 1. 69 per cent in 2007-08, but then after the phase of economic meltdown in US the total share again decreased to 1. 45 per cent in 2009-10. India ranks in the 153rd position spending 0. 9% for tourism. The hotel and tourism industry’s contribution to the Indian economy by way of foreign direct investments (FDI) inflows were pegged at US$ 2. 5 billion from April 2000 to February 2011, according to the Department of Industrial Policy and Promotion (DIPP). As per an analysis done by r etail consultancy Technopak, at the end of 2010 the Indian hotel industry’s worth was estimated around US$ 17 billion. The share of hotel and restaurant sector in the overall economy is still below 2 per cent. For the last five years the total contribution of the hospitality sector has remained stagnant. Although the overall share increased from 1. 46 per cent in 2004-05 to 1. 69 per cent in 2007-08, but then after the phase of economic meltdown in US the total share again decreased to 1. 5 per cent in 2009-10. India ranks in the 153rd position spending 0. 9% for tourism. The hotel and tourism industry’s contribution to the Indian economy by way of foreign direct investments (FDI) inflows were pegged at US$ 2. 35 billion from April 2000 to February 2011, according to the Department of Industrial Policy and Promotion (DIPP). www. oifc. com overseas Indian facilitation center According to the Tourism Satellite Accounting (TSA) research, released by World Travel and Touri sm Council (WTTC) and its strategic partner Oxford Economics in 2011: * The direct contribution of Travel ;Tourism to GDP is expected to be INR 1,570. billion (US$ 35. 4 billion) (1. 9 per cent of total GDP) in 2011, rising by 8. 1 per cent per annum (pa) to INR 3,414. 8 billion (US$ 77. 0 billion*) (2. 0 per cent) in 2021 * The total contribution of Travel ;Tourism to GDP, including its wider economic impacts, is forecast to rise by 8. 8 per cent pa from INR 3,680. 4 billion (US$ 83. 0 billion) (4. 5 per cent of GDP) in 2011 to INR 8,523. 1 billion (US$ 191. 2 billion*) (4. 9 per cent) by 2021. Total Contribution of Travel ; Tourism to GDP Source: World Travel ; Tourism CouncilThe TSA research also states that the sector is expected to support directly 24,931,000 jobs (5. 0 per cent of total employment) in 2011, rising by 2. 0 per cent pa to 30,439,000 jobs (5. 2 per cent) by 2021. Hotel Industry Due to increasing number of foreign tourist arrivals, together with the growth of dome stic tourism in the country, the hotel industry is also witnessing continued momentum. The Indian Hospitality industry contributes around 2. 2 per cent of India’s GDP. The industry is expected to reach INR 230 billion (US$ 5. 2 billion*) by 2015, growing at a robust CAGR of 12. per cent. India will be investing around INR 448 billion (US$ 10. 1 billion*) in the hospitality industry in the next five years, according to a report ‘The Indian Hotel Industry Report – 2011 Edition’ by CYGNUS Business Consulting ; Research Firm. The industry also witnessed an increase in the number of hotel rooms with a growth of 5 per cent during the last three to four years. In the next two years, a total investment of US$ 12. 2 billion (INR 545. 2 billion*) is expected that will add over 20 new international brands in the hospitality sector.Rise of budget hotels in the country, like Ginger Hotels, Lemon Tree, Sarovar Hotels, Fortune Hotels, Ibis and Choice Hotels clearly sugge st a huge growth potential in the sector. The Growth Path Foreign tourist arrivals in the country have increased substantially during the past decade motivated by both, business and leisure needs and are further expected to grow at a compound annual growth rate (CAGR) of around 8 per cent during 2010-2014, as per a research report ‘Indian Tourism Industry Analysis’ by research firm RNCOS.In fact, the Tourism sector enjoyed strong growth during 2010, as indicated in the data released by the Ministry of Tourism in January 2011. As per the data, in 2010, the country experienced a strong rebound in the Tourism industry. Foreign Tourist Arrivals (FTAs) * FTAs in India during 2010 were 5. 58 million with a growth rate of 8. 1 per cent as compared to the FTAs of 5. 17 million and growth rate of (-)2. 2 per cent during 2009. * The 8. 1 per cent growth rate in FTAs for 2010 over 2009 for India is much better than UNWTO’s projected growth rate of 5 per cent to 6 per cent f or the world during the same period. FTAs during the month of June 2011, was 3. 96 lakh as compared to FTAs of 3. 70 lakh during the month of June 2010 and 3. 52 lakh in June 2009. There has been a growth of 7. 2 per cent in June 2011 over June 2010 as compared to a growth of 4. 9 per cent registered in June 2010 over June 2009. FTAs during the period January-June 2011 were 29. 19 lakh with a growth of 10. 9 per cent, as compared to the FTAs of 26. 32 lakh with a growth of 8. 9 per cent during January-June 2010 over the corresponding period of 2009. * FEE from Tourism in INR terms during 2010 were INR 648. billion as compared to INR 549. 6 billion during 2009 and INR 507. 3 billion during 2008. FEE from tourism in US$ terms during 2010 were US$ 14. 2 billion as compared to US$ 11. 4 billion during 2009 and US$ 11. 7 billion during 2008. * The growth rate in FEE in INR terms during 2010 was 18. 1 per cent as compared to the growth rate of 8. 3 per cent in 2009 over 2008. Therefore, t he growth rate observed in 2010 over 2009 was substantially high. The growth rate in FEE in US$ terms during 2010 was 24. 6 per cent as compared to a decline of 3 per cent in 2009 over 2008.Therefore, in US$ terms, also growth rate observed in 2010 was positive and substantially high. * FEE in INR terms during the month of June 2011 were INR 54. 4 billion as compared to INR 47. 5 billion in June 2010 and INR 38. 0 billion in June 2009. FEE in US$ terms during the month of June 2011 were US$ 1. 2 billion as compared to FEE of US$ 1. 0 billion during the month of June 2010 and US$ 0. 7 billion in June 2009. * The growth rate in FEE in INR terms in June 2011 over June 2010 was 14. 5 per cent as compared to 25. 0 per cent in June 2010 over June 2009.The growth rate in FEE in US$ terms in June 2011 over June 2010 was 18. 9 per cent as compared to the growth of 28. 1 per cent in June 2010 over June 2009. * FEE from Tourism in INR terms during January-June 2011 were INR 351. 6 billion with a growth of 12. 1 per cent, as compared to the FEE of INR 313. 7 billion with a growth of 27. 1 per cent during January-June 2010 over the corresponding period of 2009. * FEE from Tourism in terms of US$ during January-June 2011 were US$ 7. 8 billion with a growth of 14. 2 per cent, as compared to US$ 6. billion with a growth of 36. 6 per cent during January-June 2010 over the corresponding period of 2009. Visitor exports are a key component of the direct contribution of the sector. According to the TSA research, India is expected to attract 6,179,000 international tourist (overnight visitor) arrivals in 2011, generating INR 678. 6 billion (US$ 15. 3 billion) in visitor exports (foreign visitor spending, including spending on transportation). By 2021, international tourist arrivals are forecast to total 11,149,000, an increase of 6. per cent pa generating expenditure of INR 1,344. 7 billion (US$ 30. 3 billion*). Visitor Exports and International Tourist Arrivals Hospitalityindia. c om Tourism in India is the largest service industry, with a contribution of 6. 23% to the national GDP and 8. 78% of the total employment in India. Indiabiz. com According to Economic Survey of 2010-11 the average annual growth rate of hotel and restaurant sector has been 8. 8 per cent for the period during 2005-06 and 2009–10. However, last two years have not been quite pleasant for the sector as growth faltered badly.Till five years ago, the sector was registering a growth of around 15 per cent but slowdown in the economy has affected the growth prospects of the sector badly and the growth rate has dropped into single digit level. The sector registered negative growth (-3. 41 per cent) in 2008–09 over the year 2007–08, which was due to the adverse global economic conditions in this year. But, the sector is back in the positive growth territory and clocked a growth of 2. 2 per cent in 2009-10. Annual growth rate (in per cent) Year|   2005-06|   2006-07|   2007-08|   2008-09|   2009-10| Hotels ; Restaurants| 17. | 14. 4| 13. 1| -3. 1| 2. 2| Source: Economic Survey 2010-11 Growth Prospects Healthy economic growth recorded in past few years, especially in the services industry, has led to increase in business travel. Higher disposable income and affordability have increased domestic leisure travel in India. Foreign tourist arrivals in India have also grown. The industry’s performance was hit in 2009 due to the global economic slowdown, terror attacks in Mumbai (November 2008) and H1N1 virus. However, the industry has shown signs of recovery in the first half of 2010.This is a clear indicator that the long-term prospects for the Indian travel and tourism industry are bright. India is expected to witness increased tourist activity both in the business and leisure segments in the coming years. International inbound traffic is expected to grow rapidly with increasing investment and trade activity. India has been identified as on e of the fastest-growing countries in terms of tourism demand. The travel and tourism demand is expected to reach US$ 266. 1 bn (` 14,601. 7 bn) by 2019. During 2004–2009 travel and tourism demand in India increased at a compound annual growth rate (CAGR) of 16. % to US$ 91. 7 bn (` 4,412. 7 bn) and foreign exchange earnings from tourism increased ~13% to US$ 11. 39 bn. Some prominent players : Sahara group, viceroy hotels,Carlson, UAE based Istithmar hotel, Netherlands based Golden Tulip Hospitality group, IRCTC, Leela Palace and resorts, DLF Universal Major players: Indian Hotels Company Limited (the Taj group) EIH Limited (the Oberoi group) ITC Hotels Limited Indian Tourism Development Corporation Small chains: Hotel Leela Venture Asian Hotels (Hyatt International Corporation) Bharat Hotels Public Sector Chain:ITDC and HCI Govt initiatives: Incredible India Atithie devo bhava Porter’s five forces: Threat of substitute goods: Presence of many hotels around the corner Hotels have varying price ranges and amenities and it is difficult to predict customer’s choice of choosing a hotel. The internet makes the overall market more efficient while expanding the size of the potential market and creating new substitution threats. Another hotel chain may erode your customer base with a newly formulated internet approach or marketing campaign. Bargaining Power of Buyers:Business persons choosing a hotel are tech savvy and find it easy to search for cheaper hotels in internet and book them. This eliminates middle men and intermediaries which in turn increases the bargaining power. The cost of switching is very low, which is again a high bargaining power on the side of buyers. This industry has numerous customers who are  relatively very small in size. Loss of  a single customer has little impact on a hotel company and this drives down the buyers  bargaining power. Rivalry among existing competitors The rivalry among competitors in the hotel ind ustry is fierce.When potential customers can learn about a hotel on line, the internet reduces the differences among competitors. People tend to seek the best price for the best experience and the tendency is to reduce price to be competitive. The internet covers wide geographical areas so the market is widened increasing the number of competitors. Barriers to entry: Initial investment cost is very high. A vital barrier would be differentiation. A hotel that can differential itself by location, by service, amenities or some other quality has the potential to attract and keep its clients.Another barrier to entry would be expertise. Unfortunately, in a mobile society employees frequently leave one hotel chain to work in another and they take that expertise in terms of training or of experience with them. It is in the areas of expertise and of differentiation that a hotel can make the greatest impact on its client and thereby on its bottom line. Economies of scale are also a huge facto r in this industry. Profitability of hotel chains is  drastically higher  than individual operations.A new entrant cannot  compete with established players in terms or quality and price  if they cannot establish significant economies of scale. High exit barriers because of the specialized assets. Bargaining power of suppliers: Two key suppliers for hotel industry are labour and real estate. The number of suppliers for  the Hotel industry is quite large and each supplier  is very small in size compared to the leading players in the industry. These few  powerful players are indispensible to the suppliers. Substitutability of the suppliers is also quite feasible and inexpensive.Switching between real estate agents is not going to affect  a particular Hotel company significantly. However in terms of quality, training centers for employees and ICT  manufacturers who provide IT systems that for property management are relatively more difficult to replace. Therefore in te rms of  substitute suppliers industry attractiveness is  moderately high. Industry’s threat of backward integration is pretty high since large hotel chains like ITC or IHCL  would have no qualms expanding into the real estate  business or developing employee training facilities in-house. Technology:Innovative designs, technological advancements and next generation interior concepts are keys to maintaining the Indian hospitality industry's success and to attract the next generation of customers. The concept, design, plan, materials, technology each aspect used in a hotel, restaurant or any property is ever changing and breaths technology for advancement and recognition. The brand loyalty increases with the concept and luxury of the hotel, no more with names. Technology plays a vital role in helping hotels expand and provide great services to the next generation of travellers.Availability enquiries, travel arrangements, local transport, gate entry, reception desks, elev ators, room, in-room features and everything travellers see and touch hotel are enhanced with the right technology and concept. To harness India’s tourism potential, several efforts are being taken for opening new destinations and exploring niche segments. However, infrastructure facilities such as air, rail, road connectivity, and hospitality services at these destinations and the connecting cities are inadequate.This remains a major hurdle for development of tourism. Roadways form a vital network in the tourist industry with almost 70% tourists in India travelling by road. Moreover, many tourist circuits depend on roads. Despite numerous efforts to improve road infrastructure, connectivity remains a major problem. There is a greater need for strengthened road and rail network, development of more expressways, and tourist-specific routes to improve connectivity to various locations across different regions.Aviation infrastructure is also critical since it is a major mode of entry for inbound tourism. Passenger traffic is expected to increase in the coming years; however infrastructure facilities at airports are cause for concern. Expansion and development of airports at major gateway cities is underway to cater to the increasing passenger traffic. However, in addition, airport facilities at important secondary cities and tourist destinations also need to be improved to be able to handle greater passenger traffic.