Public Goods and Negative Externalities A Real

Public Goods and Negative Externalities A Real Introduction The growing social awareness and increased attention towards sustainability and the value of public goods have resulted in a profound shift of public consciousness. Private businesses are bound to comply with numerous laws and limit their participation in the economy, in order to reduce the potential harm caused to the nature and people and avoid possible violations of the new sustainability requirements.Advertising We will write a custom article sample on Public Goods and Negative Externalities: A Real-World Problem specifically for you for only $16.05 $11/page Learn More Organizations are developing complex sustainability policies to confirm their commitment to the importance of public good; meanwhile, individuals are becoming more potent in the defense of their individual and collective rights. Unfortunately, laws and courts that govern sustainability processes in business have little to do with economics. In the meantime, any decision to lim it economic production for the sake of another public good, e.g. the environment, inevitably leads to other negative externalities, for instance, the lack of essential goods in the market. According to Ronald Coase, the problem of public goods and negative externalities is reciprocal, and any decision is essentially about the proper allocation of the existing resources and not about limiting the production of one good over another. Public good: Defining the term Despite the common use of the term â€Å"public good†, few, if any, authors provide its definition. More often than not, the meaning of a public good is taken for granted. This is, actually, one of the basic reasons why economists and legal professionals face a certain degree of confusion, when dealing with various public good issues. For the purpose of this paper, the definition offered by Paul Samuelson will be used. Samuelson defined public good â€Å"as a collective consumption good; one individual’s consu mption of the good does not subtract from any other individual’s consumption of the good† (McDonald McMillen 267). However, it is not enough to say that a public good is consumed collectively; the main features of a public good should also be identified. Modern economists usually speak about the two main features of a public good. First, a public good is that which, once provided and consumed by one person, does not demand any additional cost from another person who also consumes it (Rosen 56). In other words, a public good can be consumed collectively in a manner that is nonrival: it does not really matter how many people breathe the open air or catch tan under the sun. These public goods can be consumed collectively at no additional cost for every new consumer. Second, and it follows from the first feature, no one can physically or reasonable prevent anyone from using a public good (Rosen 56). In professional terms, every public good is nonexcludable (Rosen 56).Adver tising Looking for article on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More No one can forbid certain individuals to walk under the sun or breathe in the open air – the sun and the air are both public goods that can be used without any limits. Still, it should be noted, that the goods mentioned above are pure public goods. Simultaneously, a wide range of marketable public goods are available to consumers. These include but are not limited to public transport, healthcare insurance, energy, etc. More importantly, any public good that is considered as pure can lose its absolute â€Å"purity† and become non-absolute. A classic example is the growing number of people over a limited territory that leads to congestion and limits the availability of fresh air and heat (Rosen 56). In this situation, the air and sun that used to exemplify pure public goods are no longer nonrival. The cost of these goods fo r each new visitor will continue to increase, whereas their availability with each new visitor will gradually decrease. Ronald Coase and the Public Good Proposition Public goods often become the central objects of legal arguments and economic discussions. With the growing society’s emphasis on sustainability, environmental protection, and the common good, many individual consumers and businesses are bound to sacrifice their interests and pursue some distant social goals. In the past decades, numerous laws were created to govern the relationships between consumers and public goods. However, the nature of these relationships is not really about laws but, actually, about economics. At the heart of Ronald Coase’s article â€Å"The Problem of Social Cost† is the idea that the problem of the social damage caused by businesses to the society is, in reality, a reciprocal problem. Traditional approaches rely on the distinction between private and public goods (Coase 1). In these approaches, social (public) goods are assumed to be more vital to the society than the private goods produced by businesses (Coase 1). Consequently, it has become common and even desirable to make businesses and their owners pay for the damage they cause to the society, the environment, and other public goods (Coase 1). The forms used to make businesses pay for their public mistakes vary, depending on the situation, and may imply a fine, the costs of quality assurance, or even the limits imposed on the amount of goods and services businesses are allowed to produce. Yet, when considered more thoroughly, the problem of the public-private relationship is much more sophisticated. In the economic terms, the decision to make business pay for its public damage is inherently and unavoidably harmful (Coase 1). To limit businesses in their impacts on public welfare is the same as to inflict harm on them (Coase 1). Coase argues that the problem of public goods and social benefits is r eciprocal, because to avoid the harm to society, society will actually need to harm businesses (1). Coase uncovers the hidden facets of the society’s relationship with businesses. In the recent years, it has become very popular across the developed societies to hold businesses and private entities responsible for the harm they cause to the provision of public goods and society’s welfare.Advertising We will write a custom article sample on Public Goods and Negative Externalities: A Real-World Problem specifically for you for only $16.05 $11/page Learn More One of the fundamental assumptions made by Coase is that, in the fight between the public and the private, the latter is bound to take a secondary position. Simply stated, the goals and principles pursued by businesses are commonly regarded as of secondary importance against the values and principles pursued by the public. This is why, in many legal cases, businesses are made to comply with l aws and carry considerable losses, simply because most legal professionals lack any economic insight. To a large extent, the problem of the private versus public is similar to the problem of cattle and crops: whether the cattle owner should build a fence or the crop owner should sacrifice some of his/her territory is difficult to define, unless â€Å"we know the value of what is obtained as well as the value of what is sacrificed to obtain it† (Coase 2). In these situations, it may well appear that the costs of the damage caused by a manufacturing businesses to a nearby river are much lower than the costs of closing the facility and leaving hundreds of people without jobs. It is the question of costs and values. In Coase’s view, it is also the question of resource allocation and balance across multiple market players. Using Coase’s ideas to analyze contemporary problems Today’s world is being torn between multiple social priorities, and chances to reach a n ideal balance are close to zero. Healthcare, public transport, energy consumption, and climate change all have direct or indirect relation to public goods and all impose new demands on businesses and private entities. Starting with health care, which is claimed to be a universal right and a public good, many businesses are bound to carry the burden of increased healthcare costs. They pay higher premiums for their employees and devise new quality assurance models to avoid the negative impacts of their business processes on public health. Yet, taking Coase’s argument into account, the value of these premiums and their real impacts on the quality and accessibility of healthcare for the poor should be thoroughly analyzed. In a similar fashion, the costs of new quality assurance systems and their real effects on public health need to be weighed. In economic terms, the discussed problem can be readily limited to the problem of marginal costs and marginal revenues: how much margin al revenue does another unit of health premiums or quality assurance systems bring? This is the question that needs to be answered to achieve the desired outcome for all parties.Advertising Looking for article on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The situation is quite similar with the impacts of transport on the air quality and their implications for public transport and poor households. Car owners are usually blamed for the contribution they make to air pollution. According to Eskeland and Kong, air quality is a pure public good, as long as it is nonrival and nonexcludable (1). Today’s public policies vote for decreasing the number of private cars and enhancing the quality of public transport networks which, eventually, should help to improve the quality of air in urban and rural settings. Again, the reciprocity of the problem should not be ignored (Coase 1). Another approach to solve the problem of air pollution is needed. This approach should necessarily involve the analysis of the public transport availability in rural settings, the costs and benefits of car ownership by rural residents, the impacts of rural car owners on the quality of air, as well as the potential impacts of other policy decisions on rural resi dents. Eventually, it is rural residents who are most likely to suffer the lack of transport, regardless of the quality of air in their area. Most likely, the public transport and air quality policies proposed by governments and volunteering organizations will have to be more aggressive for urban residents and less aggressive for rural and poorer households (Eskeland Kong 1). The elimination of private car ownership and the extension of public transport networks by themselves will not eliminate the existing deficiency and help achieve the desirable social result (Coase 26). Without considering other changes in the system that will follow the corrective measure, the costs of such measure may turn out to be too high. No less complicated are the problems of renewable versus traditional energy resources and the problem of climate change. With the growing scarcity of traditional energy resources, more and more communities recognize the economic and, more importantly, social validity of renewable energy systems. The demand for renewable energy constantly increases (Simon), but who is allowed to benefit from renewable energy, and does one have the right to refuse from the renewable energy shifts and keep using traditional energy? Apparently, the government cannot just demand that all businesses and households switch to renewable energy. Many manufacturing enterprises still depend on traditional energy sources. In these questions, economic policy decisions should be based on the opportunity cost considerations and the potential value of renewable energy both for the businesses involved and the broader processes in global climate. Eventually, the most essential is involving economists in all policymaking processes. This is, probably, the most reliable method to improve the quality, efficiency, and feasibility of the future policy decisions. Conclusion Economic policymaking is an extremely complicated process. Unfortunately, on many occasions, the economic aspects of p olicies give place to the legal ones. How to ensure that businesses operate for the common good is a difficult question, but it is clear that the economic implications of policy decisions should always be considered. According to Ronald Coase, the problem of public goods and negative externalities is reciprocal, and any decision is essentially about the proper allocation of the existing resources and not about limiting the production of one good over another. In healthcare or energy decisions, the questions of marginal revenue, marginal cost, and value should be thoroughly analyzed. All economic decisions should also be based on opportunity cost considerations, as they definitely allow improving the quality and efficiency of policymaking results. Coase, Ronald. â€Å"The Problem of Social Cost.† The Journal of Law and Economics,  (October 1960): pp.1-28. Print. Eskeland, Gunnar Chingying Kong. Protecting the Environment and the Poor: A  Public Goods Framework Applied to Indonesia. The World Bank, 1998. Print. McDonald, John F. Daniel P. McMillen. Urban Economics and Real Estate: Theory  and Policy. Hoboken: John Wiley Sons, 2011. Print. Rosen, Harvey. Public Finance, 7th ed. New York: The McGraw-Hill Companies, 2005. Print. Simon, Christopher A. â€Å"Is Energy a Public Good?† Renewable Energy World, 2 July 2007. Web.

Finding the Main Idea Answers 2

Finding the Main Idea Answers 2 If you have read How to Find the Main Idea, and have completed the Finding the Main Idea 2 activity, then, by all means read the answers below. These answers are affiliated with both the articles, and will not make much sense by themselves! Printable PDFs: Finding the Main Idea 2 Worksheet | Finding the Main Idea 2 Answers Answer 1: Classrooms This is a stated main idea: The physical environment of a classroom is extremely important because it can influence the way teachers and students feel, think, and behave. Answer 2: China Power This is a stated main idea: Whether Chinas emergence as a global power can peacefully find a place in East Asia and the world is a major issue in todays international political environment, one that warrants a responsible look. Answer 3: Rain This is an implied main idea: Its abnormal to venture out in the rain, but the positive results can be well worth it. Answer 4: Math This is an implied main idea: Although males outperform females on math tests, the cause of the discrepancy is unknown. Answer 5: Movies This is an implied main idea: People are willing to pay high prices for movies on the weekends in order to experience camaraderie with others. Answer 6: Troopathon This is an implied main idea: Melanie Morgan created the Troopathon to counteract the negative personification of troops displayed by the media. Answer 7: Relationships This is an implied main idea: Getting into a relationship is easy, but staying in one is not. Answer 8: Educational Technology This is an implied main idea: Technology is pervasive in todays classrooms, and although critics doubt its use in education, their viewpoint is faulty. Answer 9: Fair Use This is a stated main idea: The recording industry has gone too far in its fight against file sharers in that Copyright Management Systems can impinge on users fair use of digital information. Answer 10: Mares This is a stated main idea: A recent study found that more sociable mares had more foals.

Poetry paper Essay Example | Topics and Well Written Essays - 750 words

Poetry paper - Essay Example It is also vivid that no single chapter is written without the use of a song or a poem (Tolkien 183). Chapter One, An Unexpected Party, shows the humor of the scenario when a baffled Bilbo Baggins is paid a visit by 12 unwelcome dwarves, who swiftly make themselves comfortable and begin to have a great feast. They compassionately propose to help in cleaning their mess. However, Bilbo becomes worried about the senseless handling of his favorite dishes. The Dwarves respond by singing the poem, Chip the glasses and crack the plates. In this poem, it is not easy to determine if the dwarves are ridiculing Bilbo or attempting to do as he requests. It can be said that they are doing both. Generally, the lyrics achieve various purposes which include providing humor, character development and bring about reader interaction. This is evident in line 3, first stanza of page 31. The formulation of the poem torments by providing contradictory instructions. This is where the reader realizes that th e dwarves are fanatical, teasing or both, and that Bilbo becomes worried by having his pleasant tiny silent home messed up. The reader is also provided with a chance to formulate their own tunes for the crazy song. The poetry in The Hobbit draws attention to the vast disparity flanked by varying races of Middle Earth and how they select to articulate their views. Dwarves make use of a simple eight syllable configuration in their poetry, with 4 lines to every stanza. There are no convoluted metaphors applied and the themes are real and concrete. Poetry of the Dwarves involves ancient history, customs, and ways of life, retrieving the lost inheritance and looking into the depths of the earth. This is evident in line 2, 4, stanza 1 of page 14-15. The Elves in chapter 19, however, have a free formation in their poems where they make use of vivid adjectives and metaphors. Their rhythm is more of a song as compared to the Dwarves’ march, which echoes the physical features of the El ves. Their poetry depicts attractiveness, tranquility, and happiness as compared to material objects. The Orcs, polar contrary to the Elves in attractiveness and goodness, can generate merely unpleasant sounding poetry. A race formulated via the deformation of Elves, Orcs are attracted only to ruin, authority and killing. Goblin poetry seems like the smacking of lips and the crashing of jaws and the subject matter are hunting, killing, mistreating creatures and intimidating foes. The sounds that Tolkien applies in these poems are by design insensitive, piercing, monosyllabic, and rushed to echo the nature of the loathsome creatures who sing them. This is evident in the following stanza. â€Å"†¦Clap! Snap! the black crack! Grip, grab! Pinch, nab! And down down to Goblin-town You go, my lad!...† The disparity flanked by the language selection of the Orcs and the Elves presents euphonic backing to the imagery of the manifestation and the actions of the characters. Where th e Elves are lilting, easy and alliterative, the Orcs words may not be formulated devoid of clashing teeth and opening and shutting the mouth suddenly. Language as part of a character appears instinctive, however a reader is less often provided with undeviating link flanked by the sound of speech and the personality of the speaker. A number of the poetry of The Hobbit is, effectively sung by a Hobbit. Bilbo Baggins is at the center of the story and his songs borrow heavily from

The development of the Papacy Essay Example | Topics and Well Written Essays - 750 words

The development of the Papacy - Essay Example Following this recognition, this essay examines the development of the papacy. While the contemporary office of the Pope constitutes a single individual this was not always historically true. During the early era of the Catholic Church, there were a number of popes, as the term referred to specific church leaders (Bokenkotter, p. 49). During the beginning of the Christian Church, there is the recognition that there was not a need for religious leaders, as the size of the religion was minimal. At this time there were only local leaders or bishops that organized many church gatherings and promoted the religion among the surrounding regions. During the first century, Rome was only emerging as a Christian center and as such, the extensive papal development would only gradually take hold. Towards the end of the second century, Rome became solidified as this Christian center. At this time, the Church of Rome was designated as the primary church to which all others should answer. In this wa y there is the recognition of the office of the Pope as originating from structural developments of church organization, rather than the innate religious nature of the office or individual (Bokenkotter, p. 111). According to the Catholic Church, the office of the Pope functions as a direct lineage of leadership leading back to the Apostle Saint Paul. This perspective positions the office as something that is intrinsic to the Christian faith and subsequently a natural extension of the word of God. To an extent then the Pope can be viewed as possessing a relationship with God that would position him as the most important person in the universe. In many ways the Pope’s social and political power would reflect this recognition. By the third century, following the Council of Nicaea, the papacy assumed the form it contains today. The Pope’s power continued to grow through the third and four centuries. With the fifth century, the world experienced the fall of the Roman Empire to invading German armies. Following the fall of Rome, the papacy gained increased power as many people turned to the Pope for continuity of leadership. The following Medieval Period would find the Pope at an all-time high of personal power. Following the ascension of Constantine as the Roman Emperor, he established the decree that all future Roman Emperors would require the approval of the Pope (Orlandis 1993, p. 34). The increasing connection between the Pope and political authorities would greatly expand the power and reach of the papacy. Subsequently, this period witnessed a significant amount of developments in the papacy. In 1073, Pope Gregory VII instituted the Gregorian Reforms (Orlandis 1993, p. 40). These rules raised the standards for leaders within the Catholic Church, notably encouraging celibacy among members. Perhaps the ultimately display of the Pope’s power, however, occurred during the Crusades. During this period Alexius, I even had to go to Pope Urban II to gain military support to guard against Muslim invasions. For the papacy, this demonstrates the significant political power the Pope had attained during the Medieval Period. From the 11th century onward, the papacy would experience a declining amount of influence. Because of the Pope’s involvement in many earlier conflicts, a schism emerged in the Church that divided the East and West. The onset of the Protestant Reformation in the

DVD or Digital Versatile Disc Essay Example for Free

DVD or Digital Versatile Disc Essay There are a lot of new media technologies around today and more are being invented each day. DVD is one of the most recent developments and is getting more and more popular each day. DVD stands for the term Digital Versatile Disc and is generally like a CD but can store a lot more data on it. Due to the size of DVDs they can store a whole film on one disc, the quality of these films is really good and the sound can be amazing. They can also store large amounts of extras like deleted scenes from the film, extended scenes and documentaries. DVDs are the replacements for both VHS and CD due to the fact that you can now buy music DVDs and the main use of DVD which is for the storage of films. You can now also buy recordable DVDs and DVD writers so you can now record things from the television and put it onto DVD. Due to these facts DVD has become the fastest growing consumer electronics technology of all time. There are three main types of DVD; these are DVD-Video, DVD-ROM and DVD-Audio. DVD-Video was created to meet the requirements of the film industry by having great picture and great sound on one disc. DVD also offers features like surround sound, extras and different viewing angles. DVD-Video is now the fastest growing consumer electronics technology of all time. Several thousand titles and millions of players are now in use around the world, with annual sales of players and discs doubling each year. DVD-Video players were launched in Japan in November 1996, in the USA in March 1997 and in Europe in 1998. Since then DVD-Video has grown faster than any other consumer electronics format in all these regions. DVD-Video has started to replace VHS as the format of choice for pre-recorded movies, both retail and rental. With the introduction of recordable versions DVD-Video is now set to replace the VHS for home video recording and playback of pre-recorded video. DVD-Video have been set certain requirements to stick to by the Motion Picture Studio Advisory Committee which is based in Hollywood, just about all DVDs released follow these requirements but not all of them, it is not a legal requirement, and it is just a general recommended specification, these are: 135 minutes on one side of a single disc (covering 99% of all movies). Video resolution better than Laserdisc (LD). CD quality surround sound for true home cinema listening. 3 to 5 languages (audio) per title on one disc 4 to 6 subtitles per title on one disc Pan-scan, letterbox and widescreen formats Parental lockout features Copy protection Compatibility with existing CDs Chapter division and access (like Video CD) Manufacturing cost similar to current CD costs. A format called VCD (Video Compact Disc) was tried but did not fulfil the requirements as the sound was not very good and the playing time was not very good either as some films were too long for the disc. Most DVD-Videos also include extras that cannot be included on a VHS, such as biographies, directors commentary, making of the movie etc. An increasing number include DVD-ROM content, which can range from links to relevant websites to a full game based on the movie. The use of websites can allow the disc to be used in different ways with updated text and graphics information on the website complementing the video on the disc. There is also a change in DVD types between countries. You get certain DVDs types in certain countries and they call these regions. You use region 2 in UK and region 1 in America, there are also other regions for other countries. Yet you can buy Multi-Region DVD players which can play all regions of DVD. DVD-ROM Drives are just a sort of DVD player that is attached to a PC like a CD-ROM Drive. They can be used to store games, programs and any computer data. This can be an advantage because it enables you to be able to store massive applications or lots of smaller applications. Modern Game consoles also use DVD-ROM drives for example Microsofts X-Box and Sonys PS2 so they can have more realistic and sophisticated games. The Technical Working Group, representing the computer industry, listed the following requirements for a DVD-ROM specification for multimedia, games and other computer applications.

Abortion :: essays research papers

ABORTION This topic has always been a concern between the people and the government. There are approximately 1.6 million abortions. Abortion means â€Å"Induced termination of pregnancy and expulsion of an embryo or fetus that is incapable of survival. I think that basically, people can do whatever they want to do, as long as they know what they are doing. What abortion is, is that if a woman has a baby in her stomach, and she does not want to have the baby, she can go through abortion or have the baby and put the baby for adoption. The main reason for aborting a baby is because that they can not handle the responsibility, another one is because they can not afford it. There are three stages in a woman’s pregnancy. The first stage is when the baby is still a small egg kind of growing. The second stage is when it actually gets their feet and hands and a heart. The third stage is when it is actually living off of your body as another human being. think that if you are too youn g to have a baby, and you are pregnant, then I think it should be ok for the person to abort the child. One of the side effects for having an abortion is that you feel the pain and you can get diarrhea, nausea, also it increases chances of getting cancer, anemia, and lung disease. Another effect that has on the women is the psychological effects. About ninety five percent of the women who had an abortion had a negative psychological effect, and ninety seven percent thought they have taken a human’s life. There are many ways to abort a child, most of the time the doctor would just prescribe medication to take. If medication does not work, they will pull it out. Most of the time, the medication would kill the baby and the woman would just have to give birth to a dead baby, or they can make it so that you have a miscarriage. However, if the baby is in its first trimester, a vacuum can suck it and it will have hardly any damage to your body, except for that if a part of a fetus i s left behind, it can infect. The main reason there are debates over this issue is because it is a new life in a stomach, never seen the outside world before.

Entrepreneurship in Tourism and Hospitality

|SOUTHERN CROSS UNIVERSITY | ASSIGNMENT COVER SHEET For use with online submission of assignments Please complete all of the following details and then make this sheet the first page of each file of your assignment – do not send it as a separate document. Your assignments must be submitted as either Word documents (with . oc extension, NOT. docx), text documents with . rtf extension or as . pdf documents. If you wish tosubmit in any other file format please discuss this with your lecturer well before theassignment submission date. |Student Name: |Kalendarev Mikhail | |Student ID No. |22025713 | |Unit Name: |Entrepreneurship in Tourism and Hospitality | |Unit Code: |MNG00427 | |Tutor’s name: |Goh Chye Yeow Terence | |Assignment No. |2 | |Assignment Title: |Opportunity analysis report | |Due date: |December 14, 2012 | |Date submitted: |December 13, 2012 | Declaration: I have read and understand the Rules relating to Awards (Rule 3. 17) as contained in the University Handbook.I understand the penalties that apply for plagiarism and agree to be bound by these rules. The work I am submitting electronically is entirely my own work. |Signed: |Kalendarev Mikhail | |(please type your | | |name) | | |Date: |13/12/12 | Table of contents Executive Summary3 1. 0Introduction4 . 0 Idea and Competition4 2. 1 Description of the venture & Service provision4 2. 3 Why it is innovative4 2. 4 Location5 2. 5 Number of rooms and itsprices6 2. 5. 1 Price determinants7 2. 6 Competition8 2. 7 SWOT analysis9 3. 0 Target Market and reasons for its selection11 3. 1 Industry Analysis12 3. 1. 1 Demand outlook – bargaining power of buyers12 3. 1. 2 Supply outlook – bargaining power of suppliers13 3. 1. 3 Barriers to Entry13 3. 1. 4 Substitutes14 3. 2 Market Size & Trends14 3. 3 Estimated Market Value17 3. 4 Estimated Sales Forecasts for 3 Years17 . 0 Assessing my entrepreneurial capabilities17 4. 1 Team Experience18 4. 2 HR Plan18 5. 0 Equipment needs20 7. 0 Conclusion22 REFERENCE LIST23 Executive Summary This opportunity analysis report is aimed at assessing the feasibility of new hotel project with its main location in Denmark. It covers four major sections. The first section describes the project idea including why it is innovative and identifies the competitors for the idea. The innovatory idea is to build eco-friendly hotel with variety of sustainable solutions integrated in it.The main foundation for the price is value-based pricing policy with the main reason to capture green consumers’ value through environmentally-friendly hotel solutions. The criteria for analysing our competitors include close location to the airport as well as hotel star-rating. This section ends by identifying the strengths, weaknesses, opportunities and threats for our new hotel venture. The second section assesses the market for the idea by recognizing the target market and performing industry and market analysis.The target market is sub-divided i nto three different segments which are mature markets (B2C), growth markets (B2C & B2B) and green consumers. It contains more detailed explanation why these segments were chosen. To perform an industry and market analysis, several research methods were used amongst which are primary and secondary methods. It is the third section that gives a basis for human resource activities and evaluates the team members. This section explores on myself as an entrepreneur and provides HR plan with an assessment of experience, award categories and pay rates assigned to each team member.Finally, the last section produces initial set-up costs required for new venture creation. It includes equipment needs for equipping 50 hotels’ rooms and specifies timeframe for the purchase of all items. First year’s profit and loss table is also presented in this section. Introduction The paper presents opportunity analysis report for a new hospitality venture. The main purpose of this report is to d efine the extent to which this project is feasible. Kalendarev’s Skyscraper Copenhagen Hotel is going to be a new innovative hotel located in Denmark which will have clearly identified goal to target green consumers.The new hotel will have a set of innovatory eco-friendly solutions which will benefit green consumers who care about the environment. 2. 0 Idea and Competition 2. 1 Description of the venture & Service provision The idea of the project is to open a new innovatory 4-star hotel which is going to be environmentally-friendly. It will be specially designed and constructed for travelers who care about the environment (green consumers) and wish to experience extraordinary business trip or city break. The hotel will be named Kalendarev’s Skyscraper Copenhagen Hotel.The hotel’s central location is planned to be at a new district Oresundsmotorvejen of Copenhagen city (Denmark) which will allow it to focus on the smallest details by providing a blend of Scandin avian comfort, sustainability and quality. Besides its sustainability efforts both for mankind and environment, Kalendarev’s Skyscraper Copenhagen Hotel will be generally known as the first hotel that will deliver exceptional service experience for green travelers. This would be illustrated in terms of the international standards provided within the hotel which is rare in the area where the hotel is built. . 3 Why it is innovative Our plans include to receive several awards amongst which is Ecotourism award and to be the first Danish hotel in the category of the World’s Greenest Hotel. The hotel should stand out for its remarkable interior and architecture which will be a unique blend of classical Scandinavian design and Paustian modern design. In addition, the hotel building will be integrated with eco-friendly solutions and as to our plan our hotel building should become the first CO-2 neural in Denmark.To achieve these, we will be implementing variety of green place ment strategies and will be participating at annual National Awards to be recognized by green consumers. By signing the contract with UN Global Compact, Kalendarev’s Skyscraper Copenhagen Hotel will evidence that the hotel aims at more than just quality and comfort. Its uniqueness will be addressed in hotel’s innovations and wealth of green technology solutions which will be showcased from the hotel’s exterior up to the room’s shampoo bottle. Likewise, the hotel’s facade will be integrated with the largest solar park in North Europe.With the use of innovatory groundwater-based cooling and heating system, Kalendarev’s Skyscraper Copenhagen Hotel will be the first Danish hotel to decrease energy consumption by nearly 90 per cent. Consequently, hotel will be sustaining healthy and safe environment within the venue and its rooms. In addition, the application of the variety of sustainable actions will result in diminishing CO2-emissions and will differentiate the hotel from its competition. All abovementioned could be achieved from the efficient use of organic food in the hotel’s Scandinavian restaurant as well as electricity conservation in the hotel hallways. 2. Location The location of Kalendarev’s Skyscraper Copenhagen Hotel will be between Copenhagen airport and city centre which is very convenient. The main reason is because choosing this location will allow visitors to reach the hotel in few minute drives. Also, since airport is close to hotel, free shuttle bus service will give travellers opportunity to come to hotel directly from the airport. Another distinctive advantage why this property was chosen is because metro station will be very close to Kalendarev’s Skyscraper Copenhagen Hotel which will ease tourist’s journey in exploring different attractions within Copenhagen city.By and large, Kalendarev’s Skyscraper Copenhagen Hotel will be a great choice for business people, leisur e tourists and green consumers in Copenhagen. The picture 1 below shows the estimated location of Kalendarev’s Skyscraper Copenhagen Hotel which is close to Copenhagen Airport and city centre. The street name is Oresundsmotorvejen which is a new district. [pic]Picture 1. Source: Google Maps, 2012 2. 5 Number of rooms and itsprices The hotel will have 50 rooms in total. There will be 30 standard rooms, 10 deluxe rooms and 10 family rooms. Our main pricing policy would be value-based pricing.The key attributes which differentiate the product involve quality, physical attributes, style, brand and service (Pricing for Profit, 2012). Our green consumers who care about the environment will appreciate the fact of paying higher prices for the innovations and environmentally-friendly solutions integrated into our hotel. Hence, it is smart to set value-based pricing instead of cost-based pricing to capture that value. As Figure 1 shows, Kalendarev’s Skyscraper Copenhagen Hotel w ill be providing the following prices for their rooms listed below: Room Type |Rate (US$) | |STANDARD ROOM |$  359. 97 | |DELUXE ROOM |$  359. 40 | |FAMILY ROOM |$  325. 09 | Figure 1 The weekend rates will be higher than week days. There would be no booking fees. We will be offering one free night if our rooms are offered for cheaper prices elsewhere.In addition, if the traveler changes his/her plans, hotel will allow a change or cancellation of the reservation with no worries. 2. 5. 1 Price determinants Friedhelm  Tringas  (2012) suggests that in case the demand or occupancy rate increases while supply of hotel rooms decreases, the hotel must charge higher prices for its rooms. It is vital for hotel to cover its operational expenses. Therefore, it is not a good practice to sell all rooms at the same rate since it rarely produces good occupancy and average rates (Friedhelm  Tringas, 2012).The key rate determinants for our hotel are identified as follows: – Locat ion – Demand – Competition – Hotel rating Aforementioned determinants set up the basis for rate scales and determine revenue management parameters (Friedhelm  Tringas, 2012). Additionally, it is the customer who is willing to pay certain rate for hotel room and, therefore, customer willingness influences pricing decisions of the hotel (Hotel Traffic Builders, 2010). Accordingly, Kalendarev’s Skyscraper Copenhagen Hotel will base their pricing decision considering the following aspects: Innovative solutions such as Solar Panel Park, groundwater-based heating and cooling system and first carbon-neutral hotel building in Denmark will allow hotel to set higher prices for its products and services †¢ State-of-the-art interior and comfortable location which is close to airport and city centre are great advantages that distinguish our hotel †¢ Statistics suggest that there is an increasing demand for city break tourism in Copenhagen with an annual av erage growth in bed nights between Years 2006-2010 being 7% (VisitDenmark, 2012).Hence, higher demand in city break tourism sector gives Kalendarev’s Skyscraper Copenhagen Hotel an opportunity to increase our prices within this sector. 2. 6 Competition [pic] Figure 2 Above Figure 2 presents the main direct competitors of Kalendarev’s Skyscraper Copenhagen Hotel. The reasons why these hotels are our future competitors are 1) because of their close location to the airport – it’s on average 5-10 minutes’ drive away; 2) these hotels are 3-4 star hotels. ? Competition in capacity. Hotel capacity has been significantly increasing in Copenhagen since 2009.The figure increased by up to 30% (VisitDenmark, 2012). The capacity increase will result in many challenges for Copenhagen city, but still it will be beneficial for travelers since hotels will provide better services for cheaper prices. Compared to Kalendarev’s Skyscraper Copenhagen Hotel which c apacity will be equal to 50 rooms, Palace Hotel Copenhagen has a preponderant capacity with the number of rooms which is more than double– 162 bedrooms (VenueFinder, 2009). This gives Palace Hotel Copenhagen a competitive advantage to gain larger market share. ? Price comparison [pic] Figure 3 Source: Booking. com, 2012The price comparison is implemented in five different hotels with 2 room types. As the Figure 3 shows, the strength is showcased by Bella Sky Comwell Hotel Copenhagen and Park Inn by Raddison Copenhagen Airport in terms of the lowest rates for their standard rooms. The prices are similar between Quality Airport Hotel Dan and Palace Hotel Copenhagen with the prices being $202. 75 and $233. 38 per night respectively. It’s important to note that our Kalendarev’s Skyscraper Copenhagen Hotel will be charging the highest prices at initial stages of start-up to cover its expenses and perform market-skimming pricing strategy.In family room type, the main competitor of Kalendarev’s Skyscraper Copenhagen Hotel will be Quality Airport Hotel Dan. The smallest rates within both room types are supplied by Bella Sky Comwell Hotel Copenhagen. While identical room facilities, room sizes and almost the same prices are offered by all hotels, Kalendarev’s Skyscraper Copenhagen Hotel will be positioning itself as a luxury hotel with a set of innovative and creative solutions which will allow hotel to set much higher prices for its rooms. Its main aim will be not to beat the lowest prices, but charge as higher prices as possible. . 7 SWOT analysis Figure 4 ? Strengths Location – One of the most distinctive advantages of Kalendarev’s Skyscraper Copenhagen Hotel is its location which is at a walking distance to city center and metro stations. Internationalized service standards – I find that enhancing service experience at international service levels along with the friendly and polite staff will be greatly apprec iated among our upcoming customers. In addition, such service experience will be new to our area. Clean & Spacious rooms – we will sustain cleanliness and comfort within all hotel rooms.Our eco-friendly solutions such as energy consumption, diminishing CO2-emissions and electricity conservation will bring pleasant experience to green consumers. ? Weaknesses High prices –Many expenses would be incurred at start-up stage such as building the hotel, integrating innovations, hiring and training employees and outsourcing other departments. Since it all will affect our cost of rooms, we will have to initially charge higher rates for our rooms to cover basic operational expenses and to gain some market share. This is the main weakness of our hotel.Small room type selection –Offering limited choice of room types while our competitors have variety of choices can be another weakness of our hotel. ? Opportunities New 10-floor housing building which is BIG’s project has been recently constructed in Copenhagen (Archinnovations, 2010). It has 8 houses for mixed use within this building. It’s a great opportunity to catch the flow of customers since this new housing building is located close to our hotel. Another opportunity will be expanding the number of hotel chains and gaining larger market shares within Danish hotel industry.However, additional financing will be required for expansion purposes. ? Threats The major threat for our hotel is to get proper financing from the bank. This means that our hotel project and its innovations should be first approved by the local government and then credited by financial institutions. In addition, being a new establishment, our competitors will be eager to beat us by introducing lower prices and starting price war. It means that there is a threat for our hotel in terms of harsh competition and we have to be more alert in order survive in such conditions. 3. Target Market and reasons for its selection Our primary targets would be 3 different markets: 1) Mature markets (B2C) – demographically, these are women with their age ranging from 35 to 55 years old. It also includes families with their main interests being shopping, eating and drinking, good atmosphere and different events. Geographically, this market segment comes from Southern Sweden and Norway which is very close to Copenhagen (VisitDenmark, 2012). The main reasons to appeal to this segment include high degree of awareness of Copenhagen and ease of accessibility (proximity).In addition, as the study suggests that this segment’s motivations for travelling include visiting hotels and restaurants, enjoying the atmosphere, visiting different attractions, exhibitions and museums such as Tivoli and Louisiana (VisitDenmark, 2012). 2) Growth markets (B2C & B2B) – here we would be targeting at high spenders (high income travelers) as well as women aged 35-55. The primary target group for B2B market would be Russia. The other geographical segments that we would be targeting at include UK, Germany, Holland, France, Spain and Italy.While this segment’s interests are similar to mature market segment, women also tend to be more interested in local lifestyle and architecture and design (VisitDenmark, 2012). One of the main reasons to target this segment is because people within this segment have very limited knowledge of Copenhagen city and our main aim would be to attract those people to our city as well as make them stay at our unique hotel. Moreover, it would be a great opportunity for our new hotel to showcase its innovative hotel building interior and exterior since this target market is inspired about architecture and design (VisitDenmark, 2012). 3) Green consumers.While it would be challenging for our new hotel, we would still be implementing â€Å"green placement strategies† to target green consumers. While guests are not always predictable, industry research showed tha t many guests had given a preference to the hotels caring about the environment (Environmental Leader, 2012). Since our hotel is going to be environmentally-friendly, we would appeal to green consumers as one of our primary target market. The reasons why green consumers choose to stay at environmentally-friendly hotel are because they are highly concerned about others and work towards the good of society (Environmental Leader, 2012). . 1 Industry Analysis While there was a slowdown in Copenhagen hotel market demand in 2008-2009, Sadolin&Alb? k (2010) predicts that the market would recover and is expected to be going upwards from the year 2010, although at a slower pace. This view was supported by DTZ Research (2011). Particularly, for the fifteen-year period, Sadolin&Alb? k (2010) witnessed just one year in which city hotel demand was facing negative growth. This was the end of 2008. Still, Sadolin&Alb? k (2010) believes this segment â€Å"to be an expanding segment longer termâ₠¬ . 3. 1. Demand outlook – bargaining power of buyers 35% of total market demand with total revenue of $794. 4 million is accounted on domestic demand which Copenhagen hotel market heavily relies upon (Sadolin&Alb? k, 2010). Such macroeconomic trends as GDp and consumer spending are highly interlinked with domestic demand. As a result, we should keep those trends in mind when analysing the hotel market outlook. The demand of Scandinavian market in Copenhagen hotel demand accumulates to 17%. In 2009, Norway became the largest demand generator for Copenhagen exceeding Sweden (Sadolin&Alb? , 2010). From 2010 onwards, it is expected that Norwegian hotel demand would remain at high level. On the contrary, 17% collapse in demand growth was encountered by Swedish demand which formerly scored the highest ranking for Copenhagen hotel market. Study suggests that â€Å"the economic outlook for Sweden resembles the outlook for Denmark† (Sadolin&Alb? k, 2010). However, the holiday s and business trips to Denmark are becoming expensive for Swedes because Danish krone and euro are much stronger than Swedish krona. Accordingly, Sadolin&Alb? (2010) believes that while there was a small demand decrease in Swedish segment in 2010, it will definitely recover starting from 2011 (Sadolin&Alb? k, 2010). In their market research, Sadolin&Alb? k (2010) forecasts that the annual growth of bed nights would be around 5% in years 2011-2014. Also, research predicts that domestic demand would be at around 37% of total demand. 3. 1. 2 Supply outlook – bargaining power of suppliers With three new hotels opened in 2009 and one new four-star hotel opened by Arp-Hansen Hotel Group named Tivoli Hotel (400 rooms), there would be 12% increase in the city hotel market supply (Sadolin&Alb? , 2010). Since there is slow upturn in demand, this would be â€Å"unprecedented annual increase in supply† and would cause challenging years for Copenhagen hotel market. Also, with the construction of new four-star hotel named Bella Center Hotel in 2011, the hotel will become the largest hotel in Copenhagen with total number of 814 rooms and 23-floor towers (Nordic Hotel Consulting, n. a. ). With these projects accomplished, the hotel market projection is that there would be 200-room increase each other year which is acceptable to consider.As reported by Statistics Denmark (2010), Copenhagen hotel market consists of 81 hotels and capacity is 12,500 rooms in total. Arp-Hansen and Scandic Hotels, with their smaller properties progressed under Choice brands, are the largest operators in this segment. 3. 1. 3 Barriers to Entry 1) High investment on start-up One of the most challenging barriers for entering the Danish hotel industry is high investment at initial stages of start-up. In addition, since our new hotel is going to be innovative, there would be many expenses and risks involved.With the use of secondary research, it was identified that Copenhagen hotel market has very few properties on management contracts. Instead, it is a lease driven market (Nordic Hotel Consulting, n. a. ). Because of the slowdown in Copenhagen hotel industry in 2008-2009, the significant number of investors wishing to invest into fixed leases was reduced (Nordic Hotel Consulting, n. a. ). Therefore, it can be concluded that high investment with no support from investors makes the opportunity to enter hotel industry in this area very challenging. 2) Brand identificationAs was previously mentioned, there are already established competitors (such as Park Inn by Raddison Copenhagen, Palace Hotel Copenhagen and others) on the market who possess customer loyalty and brand identification. Therefore, it would be troublesome for our Kalendarev’s Skyscraper Copenhagen Hotel to enter Copenhagen hotel market where we would need to spend time, money and efforts in order to differentiate our hotel products and get customer loyalty. 3. 1. 4 Substitutes In the hotel industr y, there could be other hotels just behind our corner.Compared to our new hotel, these substitute hotels can be similar in terms of pricing ranges and amenities offered. However, our main efforts, besides quality product and amenities, would be directed towards service excellence and innovatory eco-friendly solutions. Hence, it will be very difficult for the substitute hotels to compete with us in terms of social eco-friendly responsibility. Fair enough that because of the environmentally-friendly solutions and excellent service in our hotel, the value-price ratio between our hotel and competitor’s should be relatively distinct. 3. 2 Market Size & TrendsSince our hotel’s target markets are mainly foreigners, the following information and statistics are presented based on tourists arriving to Denmark. As to the number of tourists coming to Denmark in 2012, the number accounts to 358,858 people (Statistics Denmark, 2012). Figure 5 below illustrates the number of people o ut of total tourists who fit the profile of one of our target market – those from Norway and Sweden. Tourists from Sweden account for 2,748 people in three age categories which are 30-39 years, 40-49 years and 50-59 years. In per cent, it is 0. 76% target market out of 358,858 total numbers of tourists.As for Norwegian tourists, the number of tourists scores 3,218 people or approximately 0. 9% of target market. As we can see, tourists from Norway outweigh those from Sweden for 0. 14%. [pic] Figure 5. Source: Statistics Denmark (2012) [pic] Figure 6. Source: Statistics Denmark (2012) The above Figure 6 presents the statistical data on another target segment of our future hotel with countries like France, Italy, Netherlands, Spain, UK, Germany and main B2B market Russia. The age groups are 30-39 years, 40-49 years and 50-59 years and the figures are in thousands of people.As the chart shows, visitors from Germany set the highest ranking which is total 4,861 people for all age g roups or 1. 35% based on 358,858 total numbers of tourists. The second largest tourist generating region is UK from where 0. 54% (or 1,951) of tourists are coming. Similarly, the Russian tourists account for 0. 52% which is also our target market. The travellers from Spain and Italy represent almost the same smallest figures in target market, 0. 20% and 0. 18% respectively. Additional target markets include France and Netherlands. Tourists from Netherlands amount to 0. 1%, while those from France generate 0. 23% of target market. Total % in target market is arrived by addition of all numbers in each segment which equals to 4. 99% for the year 2012. In order to determine the hotel market trend (upward or downward) in Denmark, below is the forecast for 3 upcoming years. To derive appropriate estimated numbers, we initially have to look at previous years records. According to Statistics Denmark (2012), the number of tourists from 2010 to 2011 increased by 16,106 persons or 4. 8% (from 329,940 in 2010 to 346,046 in 2011).The same upward trend appeared between 2011 and 2012 with an increase of 12,812 travellers or 3. 7%. So the average increase number for the period from 2010 to 2012 is 4. 25%. While the total number of tourists was growing, the percentage of target market in period from 2010 to 2012 was gradually decreasing. In 2010, the total target market accounted for 5. 23% while the figure felt down to 5. 08% in 2011. As was previously stated, the percentage in target market was 4. 99% for year 2012. Accordingly, the average decrease in target market between 2010 and 2012 was -0. 12%.As a result, the following forecast numbers (Figure 7) for years 2013, 2014 and 2015 will be predicted based on past years records. | |Y. 2013 |Y. 2014 |Y. 2015 | |Tourists: | | | | |Total no. of tourists |374,109 |390,008 |406,583 | |% in target market |4. 7% |4. 75% |4. 63% | |Total market size (in number of tourists) |18,219 |18,525 |18,825 | Figure 7 Based on the forecasts above for the chosen target markets, we can declare that while the total number of tourists is growing, the percentage in target market for each substantial year is decreasing. 3. 3 Estimated Market Value The Figure 8 below shows the estimated hotel market value in selected target market. The average length of stay of international visitors to Denmark is determined as 4. 535 in 2013.This figure is arrived by surveying the average length of stay in 2011 which is 4. 42 nights and it is 4. 65 nights in 2010 (Bastis, 2011). Average hotel expenditure in Denmark per day is 58. 25 Euro per day (Carl Marcussen, 2008). It is equivalent of $75. 6 (Oanda, 2012). Hence, using the data above the market value is estimated. | |Y. 2013 |Y. 2014 |Y. 2015 | |Tourists: | | | | |No. n target market |18,219 |18,525 |18,825 | |X average length of stay |4. 535 |4. 535 |4. 535 | |X average hotel expenditure per day |$75. 6 |$75. 6 |$75. 6 | |Total market value |$6,246,311 |$6,351,222 |$6,454,076 | Figur e 8 3. 4 Estimated Sales Forecasts for 3 Years |Y. 2013 |Y. 2014 |Y. 2015 | |Tourists: | | | | |Total market value |$6,246,311 |$6,351,222 |$6,454,076 | |Your % share |7% |8% |10% | |Your sales projections |$437,241. 7 |$508,097. 76 |$645,407. 6 | 4. 0 Assessing my entrepreneurial capabilities Being motivated by the need for achievement, I am constantly searching for difficult projects and like to achieve my dreams. As a result, I’ve chosen to open my own Kalendarev’s Skyscraper Copenhagen Hotel even though it is difficult project to accomplish with much creativity and innovations required. Having background experience in hotel industry (particularly Dedeman Silk Road Hotel where I worked), I got valuable knowledge and hands-on training from the leading experts in this field.Particularly, the departments I worked in included Sales & Marketing, Reservation, Banqueting & Conference, F&B and also Front Office. In addition, I have been managing my own business from my ea rly years which deals with beauty care products. These prove my entrepreneurial attitudes and aptitudes. I am very much confident that combination of my training in hotel industry as well as long-term background experience in my own business field will result in successful feasibility of my new project. . 1 Team Experience For the successful implementation of new project, each new venture has to adequately make use of its human resources. For our new team to be effective each member of the team should have a clear understanding of why the team exists. Also, there must be shared and meaningful purpose which will unify each team member. In case of our idea, our project is intended to launch new sustainable hotel with variety of eco-friendly innovations. 4. 2 HR PlanAccording to World Tourism Organization (cited in City-of-hotels. com, 2012), the reasonable number of staff required per each 10 rooms is 12 persons for 4-star hotel. Hence, since our hotel will have 50 rooms, the optimum number of staff required is 60 persons. These include: |Staff (no. of positions) |Experience |Award Categories |Pay Rates per month | |Executive assistant (1 |Interpersonal skills; |Leadership Award- for |$15,608. 0 | |position) |5+ year experience supporting at the |executing leadership | | | |executive level |practices in delivering | | | | |quality service | | |Personnel Manager (1 |Must have BA in business discipline with |Leadership Award- for |$9,371. 0 | |position) |minimum of 5 years overall experience |executing leadership | | | | |practices in delivering | | | | |quality service | | |Financial controller (1 |Must have worked in hotel industry and have |Innovation Award – for staff |$8,665. 0 | |position) |knowledge of standard costing and inventory |members who developed new | | | |controls. |innovative systems, | | | | |approaches or methods | | |Assistant Financial |Must be financially literate with 5+ years’ |Innovation Award – for staff |$8,422. 0 | |Controller |experience including inventory and product |members who developed new | | |(1 position) |costing experience |innovative systems, | | | | |approaches or methods | | |Accounts Clerks (4 |Experienced in high volume data entry and |Partnership Award- successful|$3,045. 0 per person | |positions) |accounts receivable with minimum 2 year |partnership with other team | | | |experience |members | | |Maintenance Manager |At least 5 years of experience in corporate |Safety Award – for a staff |$7,201. 0 | |(1 position) |facilities, including 2 years of supervisory |who demonstrates safety | | | |experience |practices | | |Maintenance Assistant (1 |Qualified individual with high school diploma|Safety Award – for a staff |$7,093. 00 | |position) |or GED required.Preferably, one year |who demonstrates safety | | | |experience of building and grounds |practices | | | |maintenance | | | |Maintenance Crew (7 |Preferably, 2 years technical degree |Partnership Award- succ essful|$1,762. 0 per person | |positions) | |partnership with other team | | | | |members | | |Director Sales & Marketing|Marketing experience plus graduated from |Leadership Award- for |$10,899. 00 | | |4-year college with Bachelor Degree. executing leadership | | |(1 position) |Proficient in technical sales proving the |practices in delivering | | | |annual growth with 5-10 years of experience. |quality service | | |Sales Co-Ordinator (2 |Bachelor’s Degree in Hospitality, Marketing, |Outstanding Newcomer |$4,547. 00 per person | |position) |Business Management or equivalent.New |Award-for new comers | | | |graduates are welcomed |demonstrating good results in| | | | |the first 6 months of their | | | | |job | | |Sales & Marketing Manager |Five year experience in hospitality industry. Sales Manager of the Year |$8,648. 00 per person | |(5 positions) |Particularly, sales & marketing management |Award- for achieving | | | |experience is required |brilliant results in sales & | | | | |marketing | | |Reservation Clerk |Customer service experience for at least 2 |Customer Focus Award – |$5,662. 0 per person | |(3 positions) |years. High call volume experience plus multi|understanding and | | | |phone lines. |appreciating customer values | | |Rooms Division Manager |Must have worked as a front office manager |Improving Planning processes |$9,590. 00 | |(1 position) |for at least 2 years. College degree or |and practices Award –for | | | |equivalent is preferred. excellent planning and | | | | |implementation of relevant | | | | |practices at workplace | | |Rooms Division Assistants |Excellent interpersonal skills with at least |Work Performance Award – for |$4,848. 00 per person | |Manager (5 positions) |5 years prior experience in Rooms Management. an employee who works above | | | | |the average | | |Front Office Crew (5 |Previous experience is not mandatory. |Partnership Award- successful|$4,748. 00 per person | |positions) |Preferabl y, stable job history and some |partnership with other team | | | |customer service background. members | | |Executive Housekeeper (1 |Worked as Housekeeping Director or Manager |Performance and Quality |$6,179. 00 | |position) |with a minimum of 2-3 year experience in |Improvement Award | | | |hospitality field | | | |Housekeeping crew |Prior housekeeping work experience in |Partnership Award- successful|$4,724. per person | |(10positions) |hospitality enterprise is desired |partnership with other team | | | | |members | | |Purchasing Manager (2 |Minimum five years relevant experience. |Planner of the Year Award – |$7,491. 00 per person | |positions) |Bachelor or equivalent is required. |for concise and centred | | | | |leadership. | |F&B Manager (1 positions) |Previous experience in the Food and beverage,|Bright Spark Award |$6,656. 00 | | |culinary or other interrelated area. Number |- for bringing innovations in| | | |of years – at least 2 year experience |service experience excellence| | |Assistant F&B Manager (3 |Must have worked in low volume or multi-unit |Bright Spark Award- for |$4,101. 0 per person | |positions) |Food and Beverage operations with minimum 1 |bringing innovations in | | | |year experience |service experience excellence| | |Executive Chef (4 |Prior minimum experience of 5 to 7 years |The Award for Environment and|$5. 739 per person | |positions) |working as a chef. Preferably, degree from a |Corporate Sustainability – | | | |culinary institute. for being eco-friendly and | | | | |performing operations in | | | | |social and environmental | | | | |context. | | Figure 9. Source for pay rates: Statistics Denmark (2011) Total Number of Staff: 60 people Total Budget needed for Salary per month: $328,984. 00 5. 0 Equipment needs Item name |Quantity per each room |Timeframe for item’s |Cost per each hotel room |Total cost (for 50 | | | |purchase | |hotel rooms) | |Furniture: | | | | | |-Bed frames |1pc | |$69. 00 | $3,450. 00 | |-Desks |1pc | |$249. 8 |$12,494. 00 | |-Chairs |2pc | |$79. 00*2=$158. 00 |$7,900. 00 | | | |Total time frame for | | | |Hotel supplies: | |purchase of all items – | | | |Fitted Sheets |2 dozen |approximately 5 months |$72. 99*2=$145. 8 |$7,299. 00 | |Towels |1 dozen | |$42. 99 |$2,149. 50 | |Pillows |2pcs | |$5. 29*2=$10. 58 |$529. 00 | |Mattresses |2pcs | |$3. 99*2=$7. 98 |$399. 00 | |-Bathtub or shower in the |1pc | |$26. 99 |$1,349. 0 | |room | | | | | |-Hair-dryer | | | | | |-Telephone |1pc | |$22. 99 |$1,149. 50 | |-Safety deposit box for | | | | | |notebook and other |1pc | |$78. 6 |$3,903. 00 | |valuables | | | | | |-Hangers | | | | | |-Compact refrigerator | | | | | |-Light Bulbs (lighting) |5pcs | |$1. 25*5=$6. 25 |$312. 0 | |-Air-conditioning |1pc | |$117. 99 |$5,899. 50 | |-Electronic locks with | | | | | |magnetic key cards |12pcs | |$5. 95*12 = $71. 4 |$3,570. 00 | | | | | | | | |1pc | |$915. 0 |$45,750. 00 | | |1pc | |$329. 00 |$16,450. 00 | | | | | | | | | | | |$112,604. 50 | Figure 10. Source: Midwest Hotel Furniture Liquidators LLC (2011) The total finance required for the initial project start-up is $441,588. 0. Due to the lack of finance and inability to collect the funds at current period of time, the project will be on hold till the middle of Year 2013 until enough money is put together. [pic] Figure 11 Since our new hotel is start-up, there is a first year loss as Figure 11 shows. It could an alarm that we should decrease set-up costs and wages in order not to face the repeated losses in future years. 7. 0 Conclusion To conclude, this report analyzed the opportunity of starting a new and innovative hospitality venture which is eco-friendly hotel in Denmark.It was identified that the main innovations would constitute of groundwater based cooling and heating system to decrease energy consumption, first CO-2 neutral hotel building in Denmark and the largest solar park in North Europe. The prices for hotel rooms were det ermined with the value-based pricing policy and various price determinants in mind. In addition, the main competitors were critically analyzed and SWOT analysis provided. Three different target markets were found for our new venture and the reasons for its selection were explained.Supporting the feasibility of our project, there is an industry and market analysis which clearly detects the current market trends, estimated market value and four influential market forces. HR plan for our new venture was composed by detailing experience requirements, award categories and pay rates for certain occupations. Finally, set-up costs along with equipment needs were identified and first’s year profit-and-loss was produced. REFERENCE LIST 1) Archinnovations, 2010. BIG's 8 House Mixed-Use development in Copenhagen [online] Available at: [Accessed 18 November 2012]. ) Bastis, 2011. Destination: Denmark [online] Available at: [Accessed 20 November 2012]. 3) Booking. com, 2012. 253,034 hotels worldwide. 17+ million hotel reviews. [online] Available at: [Accessed 18 November 2012]. 4) Carl Marcussen, 2008. A multiple regression approach to estimating tourist spending –per person per night at Danish destinations [pdf] Available at: [Accessed 21 November 2012]. 5) City-of-hotels. com, 2012. Hotel Staff [online] Available at: [Accessed 25 November 2012]. ) DTZ Research, 2011. Market Report Fall 2011 Greater Copenhagen [pdf] Available at: [Accessed 19 November 2012]. 7) Environmental Leader, 2012. Analysis: Hotels Must Use Targeted Marketing to Attract Green Consumers [online] Available at: [Accessed 19 November 2012]. 8) Friedhelm  Tringas, 2012. How Do Hotels Determine Room Rates? [online] Available at: [Accessed 21 November 2012]. 9) Google Maps, 2012. Street Oresundsmotorvejen, Kastrup, Denmark [online] Available at: [Accessed 17 November 2012]. 10) Hotel Traffic Builders, 2010.Revenue Management for Dummies [pdf] Available at: [Accessed 17 November 2012]. 11) M idwest Hotel Furniture Liquidators LLC, 2011 [pdf] Available at: [Accessed 26 November 2012]. 12) Nordic Hotel Consulting, n. a. Hotel Market Report Copenhagen [pdf] Available at: [Accessed 19 November 2012]. 13) Oanda, 2012. Currency Converter[online] Available at: [Accessed 25 November 2012]. 14) Pricing For Profit, 2012. Value-Based Pricing [online] Available at: [Accessed 27 November 2012]. 5) Sadolin? k, 2010. Copenhagen Hotel Market Report 2010 [pdf] Available at: [Accessed 19 November 2012]. 16) Statistics Denmark, 2010 [online] Available at: [Accessed 20 November 2012]. 17) Statistics Denmark, 2011 [online] Available at: [Accessed 22 November 2012]. 18) Statistics Denmark, 2012 [online] Available at: [Accessed 20 November 2012]. 19) VenueFinder, 2009. Palace Hotel Copenhagen. [online] Available at: [Accessed 17 November 2012]. 0) VisitDenmark, 2012. COPENHAGEN CITY BREAK STRATEGY 2012-2014. [pdf] Available at: [Accessed 17 November 2012]. ————â₠¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€œ Strengths: Weaknesses: 1. Location 1. High prices 2. Internationalized 2. Small room type selection Services standards 3. Clean & Spacious rooms Opportunities: Threats: 1. New housing development 1. financing issues 2. Expanding hotel chains 2. price war

Isolationism Vs Internationalism Essay

Isolationism is generally a policy of nonparticipation in the international political and economic relations. It basically combines non-intervention in military policies and economic protectionism. Isolationism is a belief that originated from the United States’ opposition in war intervention, allowing alliances and organizations. On the other hand, internationalism is a call for stronger economic and political cooperation, theoretically for the benefit of the international community. Isolationism The isolationism in US was anchored on the basis of neutrality. Neutrality, in international law is a policy that adheres to the non-engagement in wars. The first doctrine of Neutrality was issued by George Washington. However, this rule of neutrality was viewed with two â€Å"deceptive† assumptions as being neither a judge nor party in conflicts which doesn’t employ biased opinions; and that belligerents do not respect sovereignty of neutral states. However, the role of neutralism broke down at the event of the two world wars, which reflected the changes of interdependence among the states. Aside from economic targets, military targets also covered every nation, thus rejecting the tenets of neutrality at hand. Moreover, World Wars has underpinned isolationism by the end of nineteenth century. America’s isolationism broke down in the twentieth century when they started entering into treaties to strengthen commercial supremacy. The Spanish American War pushed US to acquire alliances and commitments in the Far East and the Caribbean. Following this course, isolationists in the US have started to decline its power and influence, when the US government started supporting their Allies amidst the First World War (Jonas, 1966). After the World War I, US, under the regime of Woodrow Wilson entered the League of Nations. Entry to the League of Nations is a means of entry towards collective security, thus challenging the political position of isolationists. The League served as bridge for international alliance – arbiter for territorial disputes brought by the war, and served as international police to avoid another war breakout. Though the League failed in containing the Second World War and was finally disbanded in 1946, it brought about the birth of United Nations in the international scene. That by 1930s, internationalism has finally reached America, rooted from their goal to contain rising dictatorships in the global arena. The interval between the two world wars developed a sense of â€Å"commitment† among the American government to world law, collective security and a sense of policing the international arena, thus forming internationalism. Rise of Internationalism The Great Depression in America has caused people to be more concerned in reviving the economy. And as if seeing another war performance could bring in dictatorship in US, citizens still favored isolationism. Though, the Depression still has pushed countries particularly US and Britain together to boost their withering economies. The Japanese militarism gave them opportunities to commit aggressions in the South East Asia, uniting with Germany and Italy. Japan also signed a neutrality pact with the USSR to protect its borders. The continuing aggressions of Japanese military and government, and pursuing of certain territories created hostilities between Japan and United States, which led to American oil embargoes. American protectionism in Eastern Asia had caused further friction with Japan. Japanese attack on the Pearl Harbor, marked the end of classic isolationism in US. The simultaneous Japanese attacks against US allies intensified and prompted both sides to form alliances against each other. When US became a member of the United Nations, and the America First Committee was broken up. It followed that US also agreed to engage in the military alliance, North Atlantic Treaty Organization. And in 1950s and 1960s, US intervened in wars against the Koreans and Vietnamese, respectively. The US emergence as superpower after the Second World War, marked the start of internationalism. The war and downfall of France, prompted American president Roosevelt to become more linked towards other countries by sending aids to the Allied powers. US became more and more involved in foreign relations, as they were active participant for the NATO, and they instigated the Marshall Plan. Their efforts to contain the spread of communism has gotten them more indulged in global expansion. (Cole, 1983). The Post World War and the Nazis The effects of the World War 1 prompted the rise of Hitler into power and lead the Nationalist Socialist Party in Germany. This reorganization in the German government was a direct opposition to the rising internationalism trend set by the United States. As the Nazi government has changed their policies from the old Bolshevik ways towards centralization of power and hierarchal constitution. At the brink of 1930s totalitarian control of the state was employed and leadership of the government were attributed to loyal Nazis and pure German bloods. Hitler eliminated all liberal democratic opponents in the government as a policy of his reorganization of the German Society, thus promoting centralization of the State. The effects of Nazism in the international order is employed in the remilitarization of the Rhine Island, formation of the Italo-German Fascist Axis that opposed the US led alliance, intervention into the Spanish Civil War, non aggression pact with the Soviet and the invasion of Poland which resulted in the outbreak of the Second World War. Laws and Treaties Effected in 1926 – 1941 †¢ Versailles Treaty – although the Versailles Treaty was founded in 1919, it was an important benchmark in peace keeping vis-a-vis the grounds for isolationism and internationalism. After the World War I, borders were redrawn and new political ideas were bounded, thus each ethnicity now vying for their own national interests. It brought communism to consolidate powers, and prompted anit-communist countries such as the US to promote containment of such. †¢ Washington Conference of 1921 – a treaty signed towards respect for Pacific possessions and to guarantee and open door and Chinese independence. †¢ Rogers Act of 1924 – this act merged diplomatic and consular services to create Foreign Services. This is viewed as the imperial legacy of 1898 war. †¢ Good Neighborism of 1927 – Hoover and Coolidge sought an end for military interventions. Marines were pulled back, although they were also returned after two years in Nicaragua. †¢ Clark Memo of 1928 – it repudiated â€Å"police power† notion of US doctrines, but still reserved the right for intervention as defense in case of wars. †¢ Kellogg-Briand Pact of 1928 – this was signed by 64 nations including Japan and Germany. It says: â€Å"to outlaw war as an â€Å"instrument of national policy† but more an â€Å"international kiss† with no means of enforcement †¢ Stimson Doctrine of 1931 – this one abolished the Black Chamber in 1929. it was considered as the high tide of isolationism, though Japan was given no sanctions when it invaded Manchuria. †¢ 1936 Neutrality Pact – forbid US loans to nations at war †¢ 1937 Pittman Resolution – prohibited Americans to travel on ships of belligerent powers †¢ 1939 Neutrality Pact – allowed US vessels to convoy war materials to Britain †¢ 1941 Lend-Lease Act – appropriated $7 billion as aid for the Axis foes Robbins, Bruce. (1999) Feeling global: Inernationalism in Distress. Cole, Wayne S. (1983) America, Roosevelt, and the Isolationists, 1932–1945. Lincoln: University of Nebraska Press. Manfred Jonas. (1966) Isolationism in America, 1935–1941.

What You Need to Know About Diploma Mills

What You Need to Know About Diploma Mills A diploma mill is a company that awards unaccredited degrees and provides either an inferior education or no education at all. If youre considering attending an online school, learn as much about diploma mills as you can. This article will teach you how to spot them, how to avoid them, and how to take action if youve been a victim of a diploma mills false advertising. The Difference Between Unaccredited Programs and Diploma Mills If you want your degree to be accepted by employers and other schools, your best bet is to enroll in a school accredited by one of the six regional accreditors. Your degree may still be considered acceptable if it is from a school accredited by another organization recognized by the United States Department of Education (USDE) and/or the Council for Higher Education Accreditation (CHEA), such as the Distance Education Training Council. Being accredited by an agency approved by the USDE or CHEA adds legitimacy to the school. However, not all unaccredited schools can be considered diploma mills. Some new schools are undergoing the lengthy process required to receive accreditation. Other schools have chosen not to seek formal accreditation because they do not want to follow outside regulations or because they do not believe it is necessary for their organization. In order for a school to be considered a diploma mill, it must award degrees with little or no work required. The Two Types of Diploma Mills There are thousands of fake schools in the billion dollar diploma mill industry. However, most diploma mills fall into one of two categories: Diploma mills that openly sell degrees for cash - These schools are straight-up with their clients. They offer customers a degree for cash. Both the diploma mill and the recipient know that the degrees are illegitimate. Many of these schools do not operate under a single name. Instead, they let clients select the name of any school they choose. Diploma mills that pretend to be real schools - These companies are more dangerous. They pretend that they offer legitimate degrees. Students are often allured by promises of life experience credit or fast-track learning. They may have students do minimal work, but they usually award degrees in a very short amount of time (a few weeks or a few months). Many students graduate from these diploma mills thinking that they have earned a real degree. Diploma Mill Warning Signs You can find out if a school is accredited by an organization approved by the Department of Education by searching an online database. You should also keep an eye out for these diploma mill warning signs: Prospective students are bombarded with extreme promises about the degree program.Students are given one bill for the degree instead of being charged tuition for each class or credit hour.The schools website has no phone number.The schools address is a P.O. Box or apartment number.Promotional materials focus heavily on credit for life experience.The school does not have a .edu web address.There are no names of deans, directors, or professors on the website.The schools name is very similar to the name of a traditional, well-known school.Degrees are awarded in a very short period of time - only a few weeks or months.The school claims to be accredited by an organization that is not listed as an accreditor approved by the Department of Education. Diploma Mills and the Law Using a diploma mill degree to get a job could lose you your job, and your respect, in the workplace. Additionally, some states have laws that limit the use of diploma mill degrees. In Oregon, for example, prospective employees must inform employers if their degree is not from an accredited school. What to Do if You've Been Tricked by a Diploma Mill If youve been deceived by a diploma mills false advertising, immediately request a refund of your money. Send a registered letter to the companys address explaining the deception and asking for a full refund. Make a copy of the letter you send for your own records. Chances are low that theyll send the money back, but mailing the letter will provide you with the documentation you may need in the future. File a complaint with the Better Business Bureau. Filing will help warn other potential students about the diploma mill school. It takes just a few minutes and can be done completely online. You should also file a complaint with your states attorney general office. The office will read complaints and may choose to investigate the diploma mill school. List of Diploma Mills and Unaccredited Schools It is difficult for any organization to put together a complete list of degree mills because many new schools are created each month. It is also difficult for organizations to consistently tell the difference between a diploma mill and a school that is simply unaccredited. Oregons Student Assistance Commission maintains the most comprehensive list of unaccredited schools. However, it is not an exhaustive list. Be aware that the schools listed are not all necessarily diploma mills. Also, a school should not be considered legitimate just because it is not on the list.

Synchronizing Threads and GUI in a Delphi application

Synchronizing Threads and GUI in a Delphi application Multi-threading in Delphi lets you create applications that include several simultaneous paths of execution. A normal Delphi application is single-threaded, which means all VCL objects access their properties and execute their methods within this single thread. To speed up data processing in your application, include one or more secondary threads. Processor Threads A thread is a communication channel from an application to a processor. Single-threaded programs need communication to flow in both directions (to and from the processor) as it executes; multi-threaded apps can open several different channels, thus speeding up execution. Threads GUI When several threads are running in the application, the question arises of how you can update your graphical user interface as a result of a thread execution. The answer lies in the TThread class Synchronize method. To update your applications user interface, or main thread, from a secondary thread, you need to call the Synchronize method. This technique is a thread-safe method that avoids multi-threading conflicts that can arise from accessing object properties or methods that are not thread-safe, or using resources not in the main thread of execution. Below is an example demo that uses several buttons with progress bars, each progress bar displaying the current state of the thread execution. unit MainU;interfaceusesWindows, Messages, SysUtils, Variants, Classes, Graphics, Controls, Forms,Dialogs, ComCtrls, StdCtrls, ExtCtrls;type//interceptor classTButton class(StdCtrls.TButton)OwnedThread: TThread;ProgressBar: TProgressBar;end;TMyThread class(TThread)privateFCounter: Integer;FCountTo: Integer;FProgressBar: TProgressBar;FOwnerButton: TButton;procedure DoProgress;procedure SetCountTo(const Value: Integer) ;procedure SetProgressBar(const Value: TProgressBar) ;procedure SetOwnerButton(const Value: TButton) ;protectedprocedure Execute; override;publicconstructor Create(CreateSuspended: Boolean) ;property CountTo: Integer read FCountTo write SetCountTo;property ProgressBar: TProgressBar read FProgressBar write SetProgressBar;property OwnerButton: TButton read FOwnerButton write SetOwnerButton;end;TMainForm class(TForm)Button1: TButton;ProgressBar1: TProgressBar;Button2: TButton;ProgressBar2: TProgressBar;Button3: TButton;ProgressBar3: TProgressBar;Button4: TButton;Progress Bar4: TProgressBar;Button5: TButton;ProgressBar5: TProgressBar;procedure Button1Click(Sender: TObject) ;end;varMainForm: TMainForm;implementation{$R *.dfm}{ TMyThread }constructor TMyThread.Create(CreateSuspended: Boolean) ;begininherited;FCounter : 0;FCountTo : MAXINT;end;procedure TMyThread.DoProgress;varPctDone: Extended;beginPctDone : (FCounter / FCountTo) ;FProgressBar.Position : Round(FProgressBar.Step * PctDone) ;FOwnerButton.Caption : FormatFloat(0.00 %, PctDone * 100) ;end;procedure TMyThread.Execute;constInterval 1000000;beginFreeOnTerminate : True;FProgressBar.Max : FCountTo div Interval;FProgressBar.Step : FProgressBar.Max;while FCounter FCountTo dobeginif FCounter mod Interval 0 then Synchronize(DoProgress) ;Inc(FCounter) ;end;FOwnerButton.Caption : Start;FOwnerButton.OwnedThread : nil;FProgressBar.Position : FProgressBar.Max;end;procedure TMyThread.SetCountTo(const Value: Integer) ;beginFCountTo : Value;end;procedure TMyThread.SetOwnerButton(const Value: TButton) ;b eginFOwnerButton : Value;end;procedure TMyThread.SetProgressBar(const Value: TProgressBar) ;beginFProgressBar : Value;end;procedure TMainForm.Button1Click(Sender: TObject) ;varaButton: TButton;aThread: TMyThread;aProgressBar: TProgressBar;beginaButton : TButton(Sender) ;if not Assigned(aButton.OwnedThread) thenbeginaThread : TMyThread.Create(True) ;aButton.OwnedThread : aThread;aProgressBar : TProgressBar(FindComponent(StringReplace(aButton.Name, Button, ProgressBar, []))) ;aThread.ProgressBar : aProgressBar;aThread.OwnerButton : aButton;aThread.Resume;aButton.Caption : Pause;endelsebeginif aButton.OwnedThread.Suspended thenaButton.OwnedThread.ResumeelseaButton.OwnedThread.Suspend;aButton.Caption : Run;end;end;end. Thanks to Jens Borrisholt for submitting this code sample.

Las Vegas, NV Essay Example | Topics and Well Written Essays - 1500 words

Las Vegas, NV - Essay Example This essay describes the Las Vegas city. The researcher analyzes the city from various perspectives and states that as a destination, it is renowned for quality dining, shopping, and gambling. The city is most known for its casino-hotels and the entertainment associated with them. The 2010 census put the city’s population at 478,434, making it the twenty eighth most populous cities, in the United States. During the same period, its metropolitan area had a population of 1,951,269. Las Vegas was established as a city in the year 1911, just six years after its establishment. Its tolerance for adult entertainment earned it the moniker Sin City, making it a popular setting for TV programs and films. Las Vegas refers to the city plus some regions found beyond the limits of the city. Some of these beyond limit areas include the Las Vegas strip, resorts near it, and the Las Vegas Valley. Las Vegas, as a travel destination, is not for everyone. It is certainly not a destination for chi ldren, despite efforts at marketing it to families some time back. The streets, littered with handouts advertising companionship for women, act as a killer for family time. The researcher also mentiones that the artificial environment may make some feel uncomfortable. However, the climate during spring and fall is perfect for a vacation. Falling hotel occupancy also makes a visit to Las Vegas cost-effective. However, the researcher concluds that the gambling may cancel out that advantage, and as such one must be careful to spend wisely.