Prospectus Assignment Example | Topics and Well Written Essays - 250 words

Prospectus - Assignment Example s is the issue of fatigue, which can directly or indirectly affect the nature and likelihood of human error in the flight desk, especially with the recent commercial developments. Fatigue has a direct and well established impact on human performance. The purpose of this paper is to explore fatigue as one of the human factors that leads to accidents in the aviation industry and ways to mitigate its impact through use of various mitigating factors that ranges from Crew Resource Management (CRM) to the implementation of Standard Operation Procedures (SOPs). To control the effects of fatigue in the aviation industry, fatigue management mechanisms should be employed. These mechanisms involve a process that that has three steps: Identifying causes of fatigue, recognizing effects of fatigue and lastly implementing fatigue strategies. Identifying the causes of fatigue is the first step in fatigue management. Having in mind the recent and continuous commercial developments, the likelihood of the flight crew fatigue may be as a result of: cumulative sleep debt, unsympathetic rotating shift schedules, extended shifts and flying hours, circadian misalignment and the need to perform additional ground-based management (Flight Safety Foundation, 2003). Effects of fatigue may ranges from minor errors to fatal errors or major accidents. Fatigue makes pilots to scan instruments less effectively; it affects their timing actions and ability to anticipate situations with the required level of accuracy. Implementing the coping strategies to fatigue would make remarkable progress in improving safety and efficiency required to reduce and manage human errors. With proper management of fatigue, we can optimize the match between people and the systems in which they work, while improving safety and performance. These strategies include; Conducting Crew Resource Management (CRM) training: The aim of this training is to educate the crew on the limits of human performance as well as to

Astronomy123 assignment 4 Essay Example | Topics and Well Written Essays - 500 words

Astronomy123 assignment 4 - Essay Example 2. The big bang theory is behind everything because the energy discovered forced the world to have hot particles which combine with the particle found on earth where they form the particles. Another theory behind is the mathematical which includes the cosmic where there are a lot of helium and lithium. 3. The earth is covered with the ice that covers both sides of both the poles. The snowball clearly covers the cold areas that do not favor the human life. The sun that is covered produces the sun rays that are not enough to heat the world. With the cold weather of the cold areas caused by the oceans the atmosphere becomes to be like that found on mars. The marine and carbon causes deposits on the ocean banks creating the difference. 4. The experiments done proofs that life is not such easy to be found on the surface of the earth. There are ambiguities concerning the earth whereby life is such a crucial factor where it needs the required favored factors. The scientists tried to find whether life can be found on the outside space where outside the earth there exists a number of numerous planets which do not support the

Economic Benefits of the Commonwealth Games: Manchester

Economic Benefits of the Commonwealth Games: Manchester Economic benefits that Manchester gained by hosting the Commonwealth Games 2002 This paper discusses Manchester’s hosting of the 2002 Commonwealth games, and how it was used as a catalyst for urban regeneration. It discusses the theory and history behind hosting Mega events.  The rationale behind cities bidding for mega events has shifted. They bid not only to raise the image of their city on the world stage, button use the new facilities as a catalyst for urban regeneration. The Manchester case study is drawn from the local council websites and reports published during and after the event. This gave an insight into the long term economic gains for the city. The paper concludes that the hosting and the urban regeneration were successful for Manchester. This success has promoted other cities to bid for Mega events. 2.0 Introduction There are three advents that are described as mega events, the Football world cup, the Olympic and Commonwealth games. These events are held every four years, with cities around the world bidding to host them. For the purpose of this paper the discussion will be on the Olympic and Commonwealth games. The main Focus will be on Manchester hosting of the2002 Commonwealth games. Mega events as steeped in tradition, they are a platform for host cities to show what they can do. Cities plan for them years in advance, putting their bid forward so they can succeed on the world’s stage. When a city is successful in a bid, there are other cities that are disappointed. This paper discusses Manchester’s successful Commonwealth games bid after two failed Olympic bids. When a city hosts a Mega event it is in the public eye, everybody remembers the spectacle of the opening and closing ceremonies. What is not so public is all the planning behind the scenes, committing resources to the success of the games. These resources are committed at an early stage; the bid has to be viable to be considered. The rational for hosting games has shifted from the prestige associated with the attention of the world’s media, to a tool for regenerating rundown areas of the host city. Therefore the planning of the venues has shifted from temporary buildings, to long term facilities for the local communities. Some cities hosting mega events are looking at the long term usage for the new facilities after the event, in the past a lot of these buildings were built as temporary structures and pulled down shortly after the closing ceremony. This is viewed by some commentators as waste of resources, with prolonging the life of these buildings cities, can benefit long after the games are finished. This shift has attracted new cities to bid for Mega events, with the justification that it will lead to economic growth both short and long-term. The benefit can be two fold, raising the image of the city and regenerating a rundown area. Although not all host cities have been successful at obtaining growth, some are still repaying the debt that was run up to host the games. The resources that each city has ploughed into holding these prestige games are immense. To succeed they require the backing of local residents, council, sports providers, grants, the government and their agencies. This should be incorporate at the planning stage to increase the chance of a successful bid. The value to local residents of a city hosting a mega event is immense in economic terms. It is not only the new facilities that can generate income, if the games are a success, the city can attract tourism long after the event. The games cannot be viewed in isolation of the sporting stage, there is the build-up to the bid, the planning of hosting the games and the long term value they van add to the city. All these factors make up a successful mega event bid. Manchester spent a long time planning for the games. This is illustrated in the time line that appears in the appendices of this paper. This was not an easy ride, as financial problems affected the plans. Manchester overcame these and held the 2002 Commonwealth games. 3.0 Aims and objectives The aim of this paper is to assess the economic impact of cities hosting mega event; this will concentrate on the 2002 common wealth games held in Manchester. The objectives are †¢Ã‚  An in depth analysis of the history of mega events, with the resources and planning to host such an event   †¢Ã‚  An analysis of the economic benefits that can be gained and the disadvantages of hosting a major sporting event. 4.0 Methodology This chapter discusses the research methods used for the project and the rationale for their choice. It discusses methods that were not used, with justification of why they were not included.  Included is a critique of methods selected, and with hindsight identifies any changes that would have enhanced the research.   This paper critically evaluates the impact of the 2002 Commonwealth games on the city of Manchester. This paper will investigate the economic impact of a mega event and the subsequent urban regeneration. This will be compared to other host cities, both with the Commonwealth and Olympic games. Selection of the topic was stimulated and formed out of heightened publicity on the topic. The aim of holding the games was not only publicity for the city but to use it as a tool of urban regeneration. The nature of the research was discussed with colleagues and fellow students this not only added practical ideas and suggestions, it opened new avenues of thought.  This was the discussed with lecturers sounding out ideas, gauging opinions and clarifying the question.  Focusing in on the question was obtained by employing relevance trees, narrowing the research area.  This gave direction to the research, although with reviewing the literature this changed several times (Buzau, J. 1995).   Next, a research proposal was compiled, with the benefit of organising ideas and setting a time-scale for research.  Theoretically, the proposal would highlight any difficulties with the research question and access to data.  Creating a time-scale would focus on targets and meet deadlines in the completion of the paper.   The literature review, discussing theories and ideas that exist on the topic formed the foundation of the paper.  The findings from the research are then tested on theories for validity (Saunders, M. et al1997).  The literature review was challenging, there is very little academic research on the topic area. Most of the literature focused on individual’s performances at the games, and the impact of hosting the Olympic Games. This information proved relevant in understanding the justification for bidding for mega events. Journals and newspaper articles were the back bone for the review, together with internet sites and reports. Tertiary data sources, such as library catalogues and indexes were used to scan for secondary data.  This produced journals and newspaper articles, and Internet addresses.  With the amount of literature, it took time to sort out relevant material to the research.  Narrowing down the search Bell’s (1993) six point’s parameters was applied.  Applying key words that were identified in the first search produced relevant and up-to-date material (Bell, J.1993).  A limitation on the literature search was the amount of time to read all articles and books on the subject. Whilst reviewing the literature references to other publications were followed and reviewed.  Bells checklist on identifying the relevance of literature found was a practical method to reduce the amount of reading (Bell, J. 1993). A case study on the impact on the city of Manchester of the 2002Commonwealth games was chose to replace primary research. This would report the actual benefits gained by staging such a major event. There is a lot of information presented in articles on the benefits of hosting Mega games, but little on the problems.  Therefore a lot of information was rejected due to the bias of the content. Articles and web sites were used to form a picture of the impact. This would then be compared with the literature and previous host cities To produce primary data the success of a mega event proved to be vast task, taking a lot of time to produce results. Internal and external operations of several organisations, providers, spectators and competitors would have to be compared to reach any level of validity. Instead it was decide to review a case study. This was then compared to the literature review. 5.0 Literature Review This section will review all the relevant literature on mega events, including cities that have bid and hosted them together with the history of the games. The review will also discuss the rationale behind bidding and the benefits it can bring to a City who hosts an mega event. 5.1 Mega Events Mega events are regularly defined as special events, these have unique status. Hamilton, (1997) characterise these events containing similar features, including international dimensions, short-termed, and may be either a one-off occurrence or conducted on a regular cycle. From the literature, size emerges as a dominant distinguishing feature separating mega from non-mega events. Both the Olympics and the commonwealth games fall into this category, they are international, short termed and held on a regular cycle. They are held every four years, at different locations (Hamilton, L 1997:124). Sporting events are rapidly increasing in popularity as a means of attracting attention to particular geographic locations (Getz, 1998).Increasingly, cities are basing their marketing around Mega events(e.g. Manchester and the Commonwealth Games), in order to maximise the benefits to be achieved from event-driven tourism, sponsorship, and media exposure. Sporting events make up an important part of the overall Mega event industry. In reality there are a limited number of Mega sporting events that exist. This has led to fierce competition among cities to be successful in winning the business of playing event host (Getz, (1998) cited in  Westerner, H et al 2002:303). 5.2 Resources Required The size of an event can be discussed in four different ways. First is determined by the noticeable involvement of national and regional government authorities. Government agencies provide an event with the development of policies, infrastructure or making resources available supporting the attraction of events to major cities  (Westerner, H teal 2002). Higher technical competencies are required, such as advanced facilities, suitable event location and skilled personnel; these are directly related to size of the event. The demands placed on services provided by host cities to deliver an event is of superior quality when compared to other event types. The technical competencies must satisfy number of requirements. This includes the technical standards set by international federations pertaining to competition, non-competition elements (accommodation and transport) and personnel issues competition management, and personnel issues  (Westerner, H et al 2002). The higher competencies are a requirement for the event management team, made up of both bid and operational teams, it is composed of expert people capable of carrying out professional relations with event owners and organisers prior to and throughout the event as well as having the technical expertise to stage the event  (Westerner, H et al2002). The hosting City requires broad support from both direct and indirect stakeholders. Overall approval must come from the general public, government, (target) markets and other business sectors. The large amount of capital invested from the public purse in bidding for and staging an event, it is essential for strong community support for the process (Ernst Young, (1992) cited in  Westerner, H et al2002:305). 5.3 Planning for the Games International and worldwide events are more important now than ever before. In most countries major events are significant to all levels of society and institutions, whether at local or national level. Sporting events dominate large sections of the press, television and radiobroadcasts. Therefore event management has become an industry in its own right, with both specialist organisations and individuals(Torkildson, G 2005). The decision making process for the bid will develop a long term strategic plan (Johnson G, , Scholes, K 2004). This strategy is the direction and capacity of an organisation, (i.e. the committee forth games) which achieves advantages through its configuration of resources within the changing environment. The strategy answers both the questions where do you want to go? and how do you want to get there?  The first question is answered when the bid is accepted and the second is answered when the strategies are planned (Mullins L2005). Planning is the first stage of implementing the development of the city for the capacity to hold the games. Managers are required to step back to look at the environment, competitors, market place and review both the internal and external strengths and weaknesses. A SWOT analysis will focus the managers on both internal and external factors that can affect a new strategy. The host city must recognise its strengths and utilise them, and reduce weak areas through planning (Groucutt, J. teal 2004). Managerial decisions are made to identify what is required to implement the new strategy. What are the new resources are required? I.e. Property, finance or employees, and how will the city gain these resources?  Then the risk should be assessed for its long term value to the host. Strategies should not only be considered on how they will affect existing resource capabilities, but also if needed new resources and how they will be controlled. The costs to the host should be weighed against the long term gains, and if needed it can be reviewed, accessed and amended accordingly (G, Johnson K, Scholes, 2004). Mega Events are a dynamic and multi-dimensional phenomena, there are at the same time, urban events, tourist events, media events and international global events. They are the subject of collective corporate recourse, with action in each of the sections. Therefore amulet dimensional approach is required in the planning and managing of the games. This requires multi-disciplinary team based approach(Torkildson, G 2005).   5.4 Marketing Kilter et al (1993) identify several target markets to which place marketers direct their attention. These include visitors’ athletes, officials, spectators and the media, residents and workers, business and industry, and export markets. The focus of sporting events is on the visitor segment, including business and non-business visitors. Business visitors include persons who travel to a place for meetings, conventions, to inspect sites or to buy or sell a product. Non-business visitors include tourists who travel to see the place and travellers who are visiting family and friends. Individuals travelling to particular destination to attend the event or teams and participants attending events as well as organizing committees and such can also be categorized as non-business visitors (Kilter, P et al 1993). The increase in the competition and the globalisation has not only saturated the extent of competition in the markets but mainly saturated the target markets itself as argued by Brassington and Pettit (2003).This is mainly because of the fact that the high level of competition among the participating organisations in a given market segment has increased the product range leaving the customers with an endless variety of products to choose for satisfying their requirements. This level of saturation has also increased the need for further development in the market in order to achieve competitive advantage as well as sustainable growth in the business (Brassington, F and Pettit, S 2003). Therefore mega events will if correctly marketed stand alone as a once only product. This product offers a unique entry into a market, there is little comparative competition, although all sport and leisure will compete for their market share. Although a Mega event is no normally at the same level as the existing competition. This approach is accomplished through the geographical spread either nationally or internationally by the host (Lynch, R 2003). The domestic and/or international media, coupled with the selling of broadcasting rights, are important characteristics of mega events The support of the media prior to or during an event guarantees exposure and consequently raises world-wide awareness of the event and host city. The 2000 Olympics in Sydney generated in excess of $1.3 billion in revenue from broadcasting the Games, indicating the substantial financial returns for event owners, organisers and the host city brought about by media support for the event ( Westerner, H et al2002). 5.5 Sponsorship Corporate sponsorship of sports and other events is one of the fastest growing forms of marketing communications used to reach target audiences. The rate of growth in sponsorship expenditures is greater than for traditional media advertising and sales promotion. Corporate spending on sponsorship worldwide was estimated to grow 12 present in2001 (Roy, D and Cornwell, T 2003). Sponsorship is viewed as a means of avoiding this clutter by enabling sponsors to identify and target well-defined audiences in terms of demographics and lifestyles. Linking a brand with an event via sponsorship enables firms to gain consumers attention and interest by associating with events that are important to them. Despite the increased use of sponsorship to reach market segments there has been little research on the impact of sponsorship on consumer behaviour(Roy, D and Cornwell, T 2003). While sports sponsorship activities range from providing athletes with uniforms to funding entire stadiums, the basic principle behind such sponsor ships appears to be their proposed ability to increase brand equity by means of enhancing brand image. There are several key goals associated with corporate sponsorship of events such as (1) enhanced brand image via associations with positively perceived events; (2)increased goodwill via perceptions of corporate generosity; and (3)elevated brand awareness due to increased exposure (Miyazaki, A and Morgan, A 2001). The high prices paid for Olympic sponsorships reveals that at least some organisations find these efforts to be worthwhile. This is illustrated by comments from top corporate officials that the Olympics are â€Å"the most important marketing opportunity of the decade† and management suggestions that this investment will heighten global recognition and increase revenue (Miyazaki, A and Morgan, A 2001:9). 5.6 Tourism In the 1980s and 1990s, political, economic, and technological developments that led to the global economy became a feature of the environment within which cities compete for economic growth. This trade in goods and services has become increasingly open and internationally competitive; cities had to compete with cities from around the world for investment capital, businesses, and tourists. Cities such as New York, London, and Tokyo have become â€Å"global or world† cities in the urban hierarchy. These cities contain the largest variety of cultural and entertainment facilities of the highest quality, such as museums, galleries, opera houses, theatres, and concert halls (Burbank, J et al2002) Therefore other cities are a disadvantage when competing for tourism. The pursuit of hosting a mega-event is a mechanism for economic growth. This strategy relies on obtaining a single event large enough to be seen as a way to generate future economic growth. Many events can bring tourists and attention to a city, but the mega-events sufficiently large that it creates a single focal point and timeframe for completing event-related development. It is also noted that stadiums and sports teams are luxuries that financially strapped cities can ill afford; therefore holding a mega event can provide the city with these facilities for the future (Burbank, J et al 2002) The number of tourists to an area where a mega event is due to take place increases.  Individuals are drawn to destinations because of omega (sporting) event rather than the region itself. For example, tourism estimates of visits to Sydney between 1997 and 2004, as direct response to the Olympic Games, have been set at 1.7 million. Actual visits for the period during 2000 have been estimated to be 20 percent of this total (Forecast, 2001). Arising from the growth of the tourism industry has been an emphasis on place (or city) marketing and promotion and the emergence of mega sporting events to support and enhance this promotion. Place marketing represents the techniques utilised by certain organisations to raise the awareness of their particular destination to specified target markets.  Promotional objectives relate to capturing the attention of international visitors and to providing information in an endeavour to entice them to travel to a specific destination (Moutinho, L and Wits 1994). 5.7 Attendance of Events A standard set of economic factors would be expected to affect demand for attendance. Price of admission and, more generally, the opportunity cost of attendance (including cost of travel, car parking, food and beverages at the venue, and programme), would be predicted to be negatively related to attendance. Income of the potential audience at sporting contest, and size of population in the potential market for contest, would be expected to be related positively to attendance. Availability and price of substitutes would also influence attendance. Some substitutes might be considered â€Å"direct†, such as the live broadcast of the event. Other substitutes will be â€Å"indirect†, for example, attending a different sporting event or contest; or other types of entertainment alternatives such as theatre or movies (Borland and  Macdonald, R 2003) Macroeconomic factors could have an impact on attendance such as threat of unemployment. Although it has been suggested that attendance at sporting events may constitute a social outlet for unemployed persons, therefore the attendance is higher as the rate of unemployment increases (Borland, J and  Macdonald, R 2003) The infrastructure of the venue has a direct impact on attendance to the events. The quality of viewing, the facilities at the stadium, the quality of seating; the impact of adverse weather conditions; distance from contest and extent of vision to different parts of the sporting field. Catering and bathroom facilities can also have an impact(Borland, J and  Macdonald, R 2003) 5.8 Economic Benefits The national government’s involvement in bringing events to a city is on the increase. The level of spending dedicated to biding for an event demonstrates the strength of governments backing. This is to the detriment of the competition with other (cultural) activities undertaken by government and other interest groups. Openly supporting abide increases the pressure of accountability to the public and hence support will only be given, if it is clear that justifiable and measurable benefits for all stakeholders are generated by hosting the event (Westerner, H et al 2002). The economic activity associated with staging mega sporting event can create significant economic benefits for the host destination. Howard and Crompton (1995) defined the economic impact as â€Å"the net economic change in a host economy that results from spending attributed to sports event or facility†. Economic impact studies enable the quantification of the benefits to a community to be ascertained in order to justify the investment in the event (Howard, D and Crompton, J1995:55). The Olympic Games provide an obvious example of significant economic contribution by a mega sporting event. The 1984 Los Angeles Olympics made a profit of US$125 million with the Seoul Olympics exceeding that profit by a further US$50 million. Outcomes of this magnitude serve to encourage cities to bid for high status events (Law, C 1993). In September 1990, Atlanta won the bid to host the 1996 Summer Olympic Games. In spite of the approximately $2.5 billion price tag, the benefits derived from hosting the Olympic Games were expected to outweigh the costs. Positive media attention, construction of facilities and infrastructure, and employment increases were identified as the primary beneficial output of this massive endeavour. The cash in flow during mega games is relatively easy to identify, the legacy â€Å"of the games in terms of long-term benefits is more difficult to measure. The positive employment impact of the 1996 Summer Olympic Games, led to a 17% increase in long term employment in the surrounding area (Hotchkiss, J et al 2003). It must be noted at this point that not all events are successful financially. While focusing on the economic benefits presented by mega sporting events, there are significant financial burdens that such events place on host communities. This financial commitment to events often requires a degree of community assistance through public funding. The external benefits associated with mega sporting events enable this financial assistance to be classified as an investment, with clear reciprocal benefits to the host community (Westerner, H et al 2002). Once the mega-event policy is underway, extra-local interests become increasingly vital to a successful outcome. Hosting modern games requires the authority and cooperation of not only the host city, but other state and local governments and agencies as well. Moreover, the financial demands of the games require support from local public and private sources, but are increasingly dependent on multinational corporations and the government (Burbank, J et al 2002). Several global cities have had their fingers burned by over ambitious sports development plans. Sydney found itself in trouble finding permanent use for Stadium Australia. The Manchester bid, while ambitious, was also realistic. It already had the G-Mix Centre and MEN arena, Old Trafford and Maine Road football grounds. It has added to this the velodrome, an aquatics centre, Sport-city, and the City of Manchester stadium. These facilities are part of the long term regeneration, the aquatic centre has been appropriately sited for the city’s three universities; Sport-city is to become one of 10 regional centres of excellence in sport; and the stadium will be used jointly by Manchester City football club and community teams (Anonymous 2002). 5.9 Urban Renewal The Olympic Games are regarded as the world’s most prestigious sporting occasion. They are typical of mega events in that they are transitory, bring short-term international participation and attention and can have long-term consequences for the host city. There is considerable investment in both sporting facilities and the supporting infrastructure, although after the games these then become legacies to the host city.  The costs involved in hosting the Games are now so high that host cities can often only justify the expenditure when it is seen as leading to a major programme of regeneration and improvement (Essex’s and Chalked, B. 1997). Harvey (1989) has discussed that urban policies to compensate Forde-industrialisation have become more proactive and entrepreneurial often involving some form of interurban competition for jobs and investment. The use of ‘urban spectacles’, such as major sporting events, as a strategy for urban renewal are being seen as one of the main products of post-modern society This is also a means by which cities express their personality, enhance their status and advertise their position on the global stage. Urban politics have shifted to ales bureaucratic, more entrepreneurial and autonomous stance (Harvey 1989).  An example of these new urban politics is Manchester’s Olympic bids of the 1980s and 1990s, in which local government-based decision-making and bureaucratic politics were essentially replaced bay dynamic business leadership (Essex, S and Chalked, B. 1997). For the host cities there is important justification for bidding to stage the Games, particularly in recent years, the stimulus to economic development and urban regeneration. The event can promote economic activity as a result of the jobs created by the vast numbers of tourists visiting the city before, during and after the event. The construction of sports facilities can also play a role in programmes of urban renewal by, for example, introducing new sporting and recreational facilities into previously under-provided areas. On broader scale, preparations for the event can also provide a means of justifying new investment in transport infrastructure and in projects to enhance the city’s landscape and physical appearance (Essex, S andChalkley, B. 1997) 5.10 History of Mega events There are several games that are held on a four yearly cycle; these include the Olympics, Commonwealth, and the world cup. Each has grown in stature with more cities bidding for the right to stage them. The information below was extracted from both the Olympics and Commonwealth Games web sites. The first Commonwealth Games were the product of discussions and ideas shared over a thirty year period. John Cooper proposed sports and cultural gatherings for English speaking nations in 1891. In 1911 sport competitions were part of the Festival of the Empire in London, in which athletes from England, Canada, South Africa and Australasia competed (www commonwealthgames.org). The first games in Hamilton Ontario, Canada consisted of six sports, with around 400 athletes from 11 nations. The name of the games has changed frequently. The first four games were known as the British Empire Games. The name was changed to British Empire and Commonwealth Games for the 1954-1962 editions. From 1966 to 1974 the name British Commonwealth Games was used and from 1978 to the present the Commonwealth Games Kuala Lumpur, Malaysia hosted a very successful 1998 edition of the Commonwealth Games. The Queen’s Baton was carried to the stadium on an elephant and presented to Prince Edward by Malaysia’s first ever Commonwealth medal winner Kohl Eng. Tong, a bronze medallist in weightlifting from the 1954 games   The Olympic Games are steeped in history. Today, the Olympic Games are the worlds largest pageant of athletic skill and competitive spirit. They are also displays of nationalism, commerce and politics. These two opposing elements of the Olympics are not a modern invention. The conflict between the Olympic movements high ideals and the commercialism or political acts which accompany the Games has been noted since ancient times According to legend, the ancient Olympic Games were founded by Heracles son of Zeus. Yet the first Olympic Games for which we still have written records were held in 776 BCE (though it is generally believed that the Games had been going on for many years already). Approximately1500 years later, a young Frenchmen named Pierre de Coubertin began their revival. The revival of the ancient Olympics in 1896 attracted athletes from 14 nations. The largest delegations came from Greece, Germany, France and Great Britain. Winners were awarded a silver medal and an olive branch   To conclude the games are steeped in history and are a prestige event for any city to host. They can raise the city’s image on the world wide stage, thereby attracting tourism in the future. But an emerging factories they can be a catalyst for urban regeneration, therefore the value of holding the games can be immense to host city, if it is conducted right.   6.0 Case Study Manchester This section will present the facts of Manchester successful bid forth 2002 Commonwealth games. The information is from the City Council’s web site, reports and articles. The second part will pre

Great Expectations - The Growth of Pip in Society Essay examples -- Gr

Great Expectations - The Growth of Pip in Society When Joe visits Pip in London, he stays with him at Mr. Jaggers' house. Pip says that "he had little objection to his being seen by Herbert or his father, but he had the sharpest sensitiveness to his being seen by Drummle" (218). This shows that after time had past without Joe, Pip has become self conscious of him and does not want his friends to meet him, afraid that they might think less of him. Since Pip has made such good friends with everyone in his quest to becoming a gentleman, he is afraid of what they might think of him after meeting Joe. After Herbert leaves for the city, Pip gives Joe lessons on good manners and how to act properly around gentlemen so Joe would not embarrass him so much. When Joe left, he mentioned to Pip that he was going to change and that he will never be seen in the clothes that he is wearing: "It isn't that I am proud but I want to be right as you will never see me no more in these clothes" (223). Because of Joe's sudden change in attitude, Pip perceives Joe's solid honesty and moral depth so he regrets his attitude toward him. After Pip realizes that he was wrong about Joe, he goes back to his original views of Joe which stay right through to the end of the novel. Mrs. Joe has a distinctly different impact on Pip which mostly led to Pip's shyness and cowardliness throughout his childhood. Since, Pip's parents and five brothers died, Mrs. Joe felt the need to raise Pip in a strict household. Because of these strict rules implied by his sister, Pip was always afraid when he was late or did something wrong since his sister would yell at him or punish him when he got home: "Consequently, I said as little as I could and I... ...ip is introduced to many new people who all think that Pip is wonderful. They are always flattering him and commenting on his job. Pip quickly becomes popular so he is always wanted for a number of things; such as dinners or sleep overs. All the attention that Pip gets from his new found friends helps to boost his self esteem to a level that he has never experienced before. From the time he arrives in London to the time the novel is finished, Pip is a changed person and his family and peers are proud of him. Throughout Great Expectations, the growth of Pip in a society becomes more significant in each of the three stages. As Pip matures into a gentleman he learns many things about himself as well as how strong he is as a person. Instead of his critics leading the wrong direction, they helped Pip to discover his morals and led him to a successful future. Great Expectations - The Growth of Pip in Society Essay examples -- Gr Great Expectations - The Growth of Pip in Society When Joe visits Pip in London, he stays with him at Mr. Jaggers' house. Pip says that "he had little objection to his being seen by Herbert or his father, but he had the sharpest sensitiveness to his being seen by Drummle" (218). This shows that after time had past without Joe, Pip has become self conscious of him and does not want his friends to meet him, afraid that they might think less of him. Since Pip has made such good friends with everyone in his quest to becoming a gentleman, he is afraid of what they might think of him after meeting Joe. After Herbert leaves for the city, Pip gives Joe lessons on good manners and how to act properly around gentlemen so Joe would not embarrass him so much. When Joe left, he mentioned to Pip that he was going to change and that he will never be seen in the clothes that he is wearing: "It isn't that I am proud but I want to be right as you will never see me no more in these clothes" (223). Because of Joe's sudden change in attitude, Pip perceives Joe's solid honesty and moral depth so he regrets his attitude toward him. After Pip realizes that he was wrong about Joe, he goes back to his original views of Joe which stay right through to the end of the novel. Mrs. Joe has a distinctly different impact on Pip which mostly led to Pip's shyness and cowardliness throughout his childhood. Since, Pip's parents and five brothers died, Mrs. Joe felt the need to raise Pip in a strict household. Because of these strict rules implied by his sister, Pip was always afraid when he was late or did something wrong since his sister would yell at him or punish him when he got home: "Consequently, I said as little as I could and I... ...ip is introduced to many new people who all think that Pip is wonderful. They are always flattering him and commenting on his job. Pip quickly becomes popular so he is always wanted for a number of things; such as dinners or sleep overs. All the attention that Pip gets from his new found friends helps to boost his self esteem to a level that he has never experienced before. From the time he arrives in London to the time the novel is finished, Pip is a changed person and his family and peers are proud of him. Throughout Great Expectations, the growth of Pip in a society becomes more significant in each of the three stages. As Pip matures into a gentleman he learns many things about himself as well as how strong he is as a person. Instead of his critics leading the wrong direction, they helped Pip to discover his morals and led him to a successful future.

Formal and Non Formal Education

CHAPTER 2 Page 28 4. |City |Frequency |Relative |Or Relative Frequency | | | |Frequency |(%) | |Indianapolis |100 |0. 050 |5. 0 | |St. Louis |450 |0. 225 |22. 5 | |Chicago |1300 |0. 650 |65. 0 | |Milwaukee |150 |0. 075 |7. 5 | |Total |2000 |1. 000 |100. | 5. a. A frequency table. b. [pic] c. |Â   |Frequencies |Relative Frequencies (%) | |White |130 |10. 0 | |Black |104 |8. 0 | |Lime |325 |25. 0 | |Orange |455 |35. 0 | |Red |296 |22. 0 | |Total |1300 |Â  100. | [pic] d. 350,000 orange; 250,000 lime; 220,000 red; 100,000 white, and 80,000 black, found by multiplying relative frequency by 1,000,000 production. Page 35 10. a. 25 = 32, 26 = 64 > 53 suggests 6 classes. b. [pic]Use interval of 15 and start first class at 40. 12. a. 24 = 16, 25 = 32 > n = 20, suggest 5 classes b. [pic]Use interval of 10. c. 50 d. fRelative frequency 50 up to 6040. 20 60 up to 7050. 25 70 up to 8060. 30 80 up to 9020. 10 90 up to 10030. 15 Total201. 00 e. The fewest number is about 50, the highest about 100 .The greatest concentration is in classes 60 up to 70 and 70 up to 80. Page 41 15. The following table is for 7th edition part (b) only |Class |Mid Points x |Frequency |cum. Freq |Relative |fx | | | | | |Frequencies | | |0 – 5 |2. 5 |5 |5 |0. 05 |12. 5 | |5-10 |7. 5 |13 |18 |0. 13 |97. | |10-15 |12. 5 |28 |46 |0. 28 |350. 0 | |15-20 |17. 5 |23 |69 |0. 23 |402. 5 | | 20-25 |22. 5 |18 |87 |0. 18 |405. 0 | |25-30 |27. 5 |10 |97 |0. 1 |275. 0 | |30-35 |32. 5 |3 |100 |0. 3 |97. 5 | |Â   |Total |100 |Â   |1. 00 |1640. 0 | a. Histogram b. 100 (8th edition) c. 5 d. 28 e. 0. 28 f. 12. 5 g. 13 16. a. 3 b. about 26 or 27 c. 2 d. frequency polygon 17. a. 50 b. 1. 5 thousands of miles c. d. X = 1. 5, Y = 5 e. [pic] f. For the 50 employees about half earn between 6 and 9 thousand frequent flier miles. Five earn less than 3 thousand frequent flier miles, and two earn more than 12 thousand frequent flier miles. Page 45 20. a. 200 b. b. about 50 or $50,000 . c. about $180,000 d. about $240, 000 e. about = 110 – 50 or 60 homes f. about 130 homes 22. a. Les than 10 days = 6 + 7 = 13 Less than 15 days = 6 + 7 + 12 = 25 b. Lead TimefCF 0 up to 566 5 up to 10713 10 up to 151225 15 up to 20833 20 up to 25740 c. d. 14 CHAPTER EXERCISES Page 46 26. a. The scale is ordinal and the variable is qualitative. b. |Performance |Frequency | |Early |22 | |On-time |67 | |Late |9 | |Lost |2 | . |Performance |Relative Frequency | |Early |. 22 | |On-time |. 67 | |Late |. 09 | |Lost |. 02 | d. [pic] e. [pic] f. 89% of the packages are either early or on-time and 2% of the packages are lost. So they are missing both of their objectives. They must eliminate all lost packages and reduce the late percentage to below 1%. ———————– [pic]

Diversification Strategy Essay

The Videocon group’s core areas of business are consumer electronics and home appliances. They have recently diversified into areas such as DTH, power, oil exploration and telecommunication. Consumer electronics In India the group sells consumer products like colour televisions, washing machines, air conditioners, refrigerators, microwave ovens and many other home appliances, through a multi-brand strategy with the largest sales and service network in India.[4]   Mobile phones In November 2009, Videocon launched its new line of mobile phones.[5] Videocon has ever since launched a number of innovative handsets ranging from basic color FM phones to high-end Android devices. And in February 2011, Videocon Mobile Phones launched the revolutionary concept of ZERO paise per second with pre-bundled SIM cards of Videocon mobile services along with 7 of its handset models. Colour picture tube glass Videocon is one of the largest CRT glass manufacturers in the world, operating in Mexico, Italy, Poland and China. Oil and gas An important asset for the group is its Ravva oil field with one of the lowest operating costs in the world producing 50,000 barrels of oil per day.[6] DTH Main article: Videocon d2h In 2009, Videocon launched its DTH product, called ‘d2h’. As a pioneering offer in the Indian DTH market, Videocon offered LCD & TVs with built-in DTH satellite receiver with sizes 19†³ to 42†³. This concept in the DTH service is relatively new in the presence of other players like ZEE TV’s Dishtv, Tata Sky, Air tel Digital TV and Reliance’s BIG TV providing only the set top box. Telecommunication Videocon Telecommunications Limited has license for mobile service operations across India. It launched its services on 7 April 2010 in Mumbai. Acquisition of Thomson SA Videocon through its Wholly Owned Offshore Subsidiary acquired the Color Picture Tube (CPT) businesses from Thomson S.A having manufacturing facilities in Poland, Italy, Mexico and China along with support research and development facilities. Acquisition rationale The acquisition came at a time when Thomson was facing a fall in demand in developed markets for television with CPTs and was moving more towards Flat-screen and Plasma Television. However, Videocon saw an opportunity in the emerging countries for CPTs and hence pursued with the acquisition. Besides, the acquisition gave Videocon, the access to advanced technology giving the company control over an R&D facility in Agnani, Italy. The major reasons behind this acquisition were:[7] Cost cutting – Videocon was better positioned to shift the activities to low-cost locations and also it could integrate the operations with the glass panel facility in India with the CPT manufacturing facilities acquired from Thomson S.A. Videocon wanted to leverage its position in the existing parts of the business and this acquisition would give it a strong negotiation position and could reduce impact of glass pricing volatility. Videocon could also reduce the costs by upgrading and improving the existing production lines. Vertical Integration – The acquisition helped Videocon in vertically integrating its existing glass-shell business where it had been enjoying substantially high margins.[8] Videocon’s glass division had the largest glass shell plant in a single location. This gave the company an unrivaled advantage in terms of economies of scale and a leadership position in the glass shell industry. The acquisition also gave Videocon a ready-market for its glass business and it was part of Videocon’s long-term strategy to have a global vertically-integrated manufacturing facility. Rationalization of Product Profile – Videocon modified its product profile to cater to the changing market needs like moving away from very large size picture tubes to smaller ones.[9] Apart from the overall strategy Videocon also had a plan on the technological front. It wanted to improve the setup for the production line and line speed post-merger. Its focus was to increase sales while reducing the costs and thereby improving the productivity of the existing line. The company also wanted to foray in a big way into LCD panels back-end assembly . On the sales front the company wanted to leverage on the existing clients of Thomson and build relation as a preferred supplier to maximise sales. Also, Videocon could benefit from OEM CTV business with the help of Videocon’s CTV division, invest for new models and introduction of new technologies.[10] Thomson’s perspective In 2004 Thomson planned entry into the high-growth digital media and technology business. Also, Thomson wanted to exit consumer and electronics businesses as they were incurring significant losses. After sale of its TV business to Chinese group TCL, and Tubes to Videocon, Thomson divested from the audio/video accessories business which was the last unit of its consumer electronics business. The need to divest are quite evident from the losses that it incurred in these businesses particularly that the unit that it sold off to Videocon, the Optical Modules activity, and the Audio/Video & Accessories businesses which totalled around â‚ ¬749 million for 2005. Moreover Thomson had done some acquisitions that were in line with boosting their revenues in the following years. [11] Other competitors for the acquisition When Videocon entered the race for the colour picture tubes manufacturing capacity of Thomson SA in November 2004, there were 16 other bidders. Videocon stood slim chances given the fact that it had to battle it out with players like LG, Philips, Samsung and Matsushita, Daewoo and several Chinese manufacturers but finally managed to close the deal. The deal catapulted Videocon into the No. 3 slot in the global pecking order for CPTs. An official of Videocon said on the deal â€Å"The word is out in the world that India and Indian companies are not just a good bet by themselves, but also a hedge against China.â€Å" [12] Pre-merger scenario analysis CPT industry is affected by many competitive factors such as change in the consumer preferences, the product offer strategy of retailers, the progress made by alternative technology manufacturers, capacity adjustment facility of competitors etc. Based on all of these factors there were two scenarios that emerged from the 2005 budget of Videocon. The first scenario is a conservative one. It mainly assumes Price pressures similar to those in the past(-8 to -12%),capacity reduction over a period of two years, a gradual shift to newer technologies like True Flat and good amount of growth for LCD makers. The second scenario is a more aggressive one in term of trends predicted. It assumes that the switch to TrueFlat would be faster, more overcapacity, more competition from LCD manufacturers and rising price strategy pressures in general. The second scenario obviously requires an industrial strategy which is more adapted to the environment. However even if the second scenario arises,Videocon believes there is an opportunity in the CRT business. Though it is very obvious that in the developed markets of the western world the demand is shifting towards the flat panel side(FPD it is expected to contribute 70% of TV market in these regions),in the emerging markets like BRIC CRT still holds fort. CRT holds a dominant 70% share in these markets. When translated into number of units the demand is more than 100 million units. As Videocon is primarily based in these countries, it hopes to harness the value of the Thomson acquisition in the coming years.[citation needed] [edit] Post merger situation (2008) Videocon has not been able to turn the plant around in Italy still. However it is getting support from the local government(which want to prevent job cuts) in form of grants. The government is in fact trying to set up a Greenfield venture in form of a LCD manufacturing facility in partnership with Videocon. The banks are also supporting Videocon and with help from all these quarters Videocon expects to turn around the plant in Italy.[13] The Thomson plant has not turned around in Mexico as well and in fact production has been reduced over there.In Poland,the situation is more promising and Videocon hopes that plant over there will get in black in the very near future.[14] However the surprise has been in the Chinese market .Despite facing a highly competitive market Videocon has managed to turn a plant around while the other is on its way. In China Videocon is adopting a different strategy for manufacturing CTVs as the local players dominate the market .It plans to supply these players by taking advantage of low-cost nature of mainland(the number targeted by it about 6 million CPTs).[15] [edit] Thomson’s exit from Videocon Thomson is looking to sell out its stake in Videocon (a 10 percent stake via GDRs) and in most likelihood it would be bought by Videocon itself. Thomson would be exiting at a loss as it had acquired the stake at around Rs 400 per share (approximately equal to $10 per share).The deal is expected to happen at current market prices. Videocon’s GDR is currently traded at around $5.06 on the Luxembourg Stock Exchange. On the Bombay stock exchange its trading around INR150 against the 52 week high of INR868 in Jan 2008. Another point to be noted is that this won’t attract the market regulator’s â€Å"creeping acquisition† norm which comes into force once they acquire more than 5% stake,as the deal would be an overseas. [16]

Woodside Petroleum 2005 Company Analysis

Woodside Petroleum 2005 Company Analysis Free Online Research Papers Woodside reported a net profit after tax of $1,107.4 million for 2005 which is 3.4% lower than 2004 of $1,146 million. However, 2005’s underlying net profit after tax increased by 54.5%. This is because a significant item totalling $474.6 million reported in 2004 was from selling off the Enfield oil project (Phaceas 2006). Average oil price has increased 36.8% in 2005 compared with 2004 contributes a $552.6 million to revenue from sale of goods and higher sales volumes raised another A$98.4 million driven by strong Liquefied Natural Gas sales. This corresponds with Howarth (2006), â€Å"Woodside’s average crude oil price in 2005 was $72.88, up from $54.19 the year before†. However, these positive amounts are partially offset by the loss from appreciation of AUD against USD, increased cost of sales and total exploration and evaluation expense. As oil production costs increased from $4.27 a barrel to $6.78 a barrel (Howarth 2006). All these lead to decrease in ROE (net profit attributable to the members of Woodside Petroleum Ltd / Total Equity) from 41.4% in 2004 to 31.6% in 2005. If adjusting for significant items, it actually increases from 29.3% to 30.2%. Liquidity Current ration (Current Assets/Current Liabilities) has dropped dramatically during 2005 from 2.6 to 0.785. It is largely because of the cash outflow amounting to $564.2 million which was mainly for acquiring Houston-based Gryphon Exploration Company. According to Howarth, â€Å"Woodside plans to increase its exploration budget 40 per cent to $500 million in 2006 after spending $346.2 million in 2005 and just $239 million in 2004 (2006)†. Though notion of ‘ideal’ current ratio differs across industries, a higher ratio is normally preferred to a lower one as liquidity is of vital importance to the survival of a business (Atrill, 2000). Meanwhile, payable increased $289.4 million due to the purchase of long-lead items for the Group’s exploration and development activities and the acquisition of Gryphon payable. However, the truth behind the drop in liquidity is wealth creation for future growth. For example, the acquisition of Gryphon in September 2005 provided immediate production and access to a substantial portfolio of exploration leases and prospects in the Gulf of Mexico. Disruption to oil and gas operation caused by Hurricanes Katrina and Rita 2005 was covered up to 88% of pre-hurricane level by the Gryphon portfolio. The Kipper gas field in Bass Strait will cost $200 million which expected to yield $3 billion of gas and natural gas, with Woodside owned 21 per cent it. Gearing There was no new share issued during 2004 and 2005, and Woodside relied more on borrowing. Long term debts remain at the similarly level around 1000 million due to its industry characteristic. But the net gearing (Net Debt* / Equity) in 2005 has tripled in size compare with 2004 because Woodside has increased their borrowing to meet the cash need. The $729 million gained in equity contributed only a small portion to the gearing. Woodside plans to spend $10 billion in development of new projects over the next five years, and three major projects will start production this year (Howarth 2006). * Net debt=short term debt + long term debt cash Impact of International Financial Reporting Standards (IFRS) From 1 January 2005, financial statements prepared by Woodside are in accordance with Australian equivalents to International Financial Reporting Standards (AIFRS) instead of Australian Generally Accepted Accounting Principles (AGAAP). The adoption of AIFRS has impact the following areas: (a) Petroleum Resource Rent Tax (PRRT) Under AGAAP, PRRT was treated using accrual accounting basis. Under AIFRS, Australia Accounting Standards Board (AASB) 112 extends the tax-effect accounting to encompass all taxes on income. Taxable temporary differences arise because deferred PRRT liability or asset is recognised for the differences that have accumulated between PRRT tax base and the accounting base. (b) Employee Share Plan AASB 2 require treatment of employee share plan as share-based compensation, the principal amount of the interest-free, limited-recourse loans to acquire shares are reclassified from receivables to a separate class of shareholders’ equity. Dividend paid on shares issued are retained to repay the loans, are offset against that separate class of shareholders’ equity. (c) Leases Determine whether any service contracts contain leases. All leases should be accounted in accordance with AASB 117. Woodside has identified a finance lease which needs to be reported on the balance sheet, lead capitalisation of leased assets into oil and gas properties and the lease liability recorded as interest-bearing loans and borrowings. As a result, the retained earning will reflects the replacement of lease payments expense with interest and depreciation charges. (d) Functional and Presentation Currency AASB 121 The Effects of Changes in Foreign Exchange Rates, the Group’s functional currency is Australian dollars and US dollars. Assets and liabilities of subsidiaries with a foreign currency are translated into Australian dollars at each period’s closing date and any exchange movements are recorded through a Foreign Currency Translation Reserve (FCTR). (e) Borrowing Costs Borrowing costs on qualifying assets are to be capitalise, this exclude those assets with a value of less than $50 million, all expenses relating to exploration and evaluation, and the foreign exchange differences. (f) Provision for Restoration Under AIFRS, the present value of restoration obligations to be recognised as a non-current liability and to capitalised future restoration costs. The capitalised cost is amortised over the life of the project and the provision is accreted periodically as the discounting of the liability unwinds. The unwinding of the discount is recorded as a finance cost, which leads to reduction in restoration provisions. (g) Investments Investments in equity securities were held at cost under AGAAP. AASB 139 classified investment in equity as either held for trading (unrealised gains or losses reported in the income statement) or available-for-sale (unrealised gains or losses reported in equity) and carried at fair value. The difference between the fair value of investments and historical cost leads to increase in other financial assets and retained earnings. (h) Income Tax Under AGAAP, income tax expense was calculated by reference to the accounting profit after allowing for permanent differences. Under AIFRS, temporary difference arises due to difference between the carrying value of an asset or liability and its tax base. (i) Defined Benefit Superannuation Fund Under AGAAP, cumulative actuarial gains and losses on the defined benefit section were not recognised on the balance sheet. Under AIFRS, provision for employee benefits is recognised as an asset and is measured as the difference between the present value of the employees’ accrued benefits and the net market value of the superannuation fund’s assets at that date. The impact would be increase in other assets for the surplus superannuation fund assets and to record the related gain in the income statement. (j) Embedded Derivatives AASB 139 requires the identification, recognition and measurement of derivatives embedded within contracts that a company may enter. (k) Financial Instruments AASB 132 and 139 require all financial instruments to be initially recognised at fair value. Subsequently, movements in financial instruments are recorded in the income statement. (l) Hedge of Net Investments Under AGAAP, US dollar borrowing were treated as a hedge of US dollar sales revenues. However, US dollar borrowing does not meet the hedge accounting requirements under AIFRS. (m) Sale of Assets Under AIFRS the net gain or loss on sale of each class of asset is classified as other income or other expenses in the income statement. Under previous AGAAP, proceeds on sale were classified as other income and the written down value of assets disposed were disclosed as other expenses. (Woodside Concise Annual Report 2005) Reference Woodside signs $2b LNG deal, The West Australian, 2 May 2006 Atrill, Peter 2000, Accounting: an introduction, Prentice Hall, NSW Ball, Y Risk-hungry Woodside looks offshore for growth, Australian Financial Review, 16 January 2006. Ball, Y Woodside slips as junta disputes production contract, Australian Financial Review, 4 February 2006. Bell, S Woodside Petroleum Heats Up Demand for Natural Gas Fuels Jump in Australian Firms Shares, The Wall Street Journal, 3 January 2006, Dow Jones Newswires. Energy, N. W Woodside in Kansai gas deal, The Australian, 23 March 2006. Findlay, T Resource stocks take a breather, Australian Financial Review, 6 January 2006. Fitgerald, B Woodside shoots to glory as it cashes in on oil boom, The Age, 12 April 2006. RESOURCES EDITOR Howarth, I Woodside to keep pumping out profits, Australian Financial Review, 16 February 2006. aspectfinancial.com.au, 5 May 2006. woodside.com.au/Investors/Annual+Reports/2005+Annual+Report.htm, 5 May 2006. Keenan, R Japanese loyalty a big boost for Woodside, The Courier-Mail, 9 March 2006. Palepu, K.G., Healy, P.M and Bernard V.L. 2004, Business Analysis Valuation Using Financial Statements, 3rd edn, Thomson, Mason. Phaceas, J Woodside flags Sunrise start as profit tops $1 b, The West Australian, 16 February 2006 Sprague, J.A Investors cheer as share prices soar to record on back of gold, The West Australian, 10 January 2006. Research Papers on Woodside Petroleum 2005 Company AnalysisDefinition of Export QuotasThe Relationship Between Delinquency and Drug UseMarketing of Lifeboy Soap A Unilever ProductTwilight of the UAWInfluences of Socio-Economic Status of Married MalesThe Project Managment Office SystemIncorporating Risk and Uncertainty Factor in CapitalOpen Architechture a white paperStandardized TestingBionic Assembly System: A New Concept of Self