Marriott Corporation and Project Chariot Essay -- Marriott Case Analys

Marriott Corporation and Project Chariot   Ã‚  Ã‚  Ã‚  Ã‚  The Marriott Corporation (MC), had seen a long, successful reign in the hospitality industry until the late 1980s. An economic downturn and the 1990 real estate crash resulted in MC owning newly developed hotel properties with no potential buyers in sight and a mound of debt. During the late 1980s, MC had promised in their annual reports to sell off some of their hotel properties and reduce their burden of debt. However, the company made little progress toward fulfilling that promise. During 1992, MC realized that financial results were only slightly up from the previous year and their ability to raise funds in the capital market was severely limited. MC was left with little choice, as they had to consider some major changes within the company if they wished to remain a successful business. Thus, J.W. Marriott, Jr., Chairman of the board and president of MC, turned to Stephen Bollenbach, the new chief financial officer, for ideas and guidance. Bollenbach, who had a reputation for creating innovative financial structures in the hotel industry, proposed a radical restructuring for MC. Bollenbach’s proposal included breaking MC into two separate entities. The new company would retain the service businesses of MC and have the financial strength to raise capital and take advantage of various investment opportunities. On the other hand, the old company would retain the hotel properties and the pressure to sell properties at reduced prices would be greatly lessened. This drastic restructuring proposal, deemed Project Chariot, had to be evaluated by J.W. Marriott before he went before his board of directors with his ultimate recommendation. Thus, Marriott planned to review the company’s past financial history that led to their current position; evaluate Project Chariot’s advantages, disadvantages and value; determine the bond risk involved if Project Chariot was accepted and finally consider alternative recomm endations. Past History of MC By the 1980’s, the Marriot Corporation, founded in 1927, had grown into a financially sound, industry-leading corporation. Although MC went public in 1953 and continued to sell stock to the public, the Marriott family still retained the controlling interest of 25% of the company in 1992. Once J.W Marriott Sr. resigned in 1964, his son, J.W. Marriott Jr., took over the posi... ...th the restructuring proposed by Project Chariot. The Management team of HMC must aggressively restructure its finances in order to alleviate this debt and reduce its risk of bankruptcy or take-over.   Ã‚  Ã‚  Ã‚  Ã‚  Also, if possible actions should be taken to ease the worries of existing bondholders and institutional investors. Management may consider sharing the debt more equally between the two divisions in an effort to prevent downgrading of the credit rating and loss of investors. References Answers.com. Leveraged Buy Out. Retrieved July 17, 2005 from   Ã‚  Ã‚  Ã‚  Ã‚  http://www.answers.com/topic/leveraged-buyout High yield or â€Å"junk† bonds. Retrieved July 18, 2005 from http://www.finpipe.com/bndjunk.htm http://www.investopedia.com/university/mergers/mergers4.asp. Retrieved July 16, 2005. Ross, S., et. al. (2001). Corporate Finance. McGraw-Hill Companies. Yawson, A. (October 20, 2004). Performance shocks, turnaround strategies, and corporate recovery: Evidence from Australia. Retrieved July 18, 2005 from http://64.233.161.104/search?q=cache:2aoQ4Wn2y8MJ:wwwdocs.fce.unsw.edu.au/banking/workpap/wp%252010%25202004.pdf+australian+strategies+corporate+restructuring&hl=en&ie=UTF-8

Genetic Defects in Cystic Fibrosis Transmembrane Conductance Regulator

Abstract: The main goal of this paper is to explain what Cystic Fibrosis is and also to explain what the causes of Cystic Fibrosis are. Cystic Fibrosis is caused by a mutation in a gene called Cystic Fibrosis Transmembrane Conductance Regulator (CFTR). Cystic Fibrosis is known as one of the most common life-shortening disease. More that 1,000 mutations in the CFTR gene have been found in people with Cystic Fibrosis. Most of these mutations change single protein amino acids in the CFTR protein and it deletes a small amount of DNA from the CFTR gene. I am going to explain what happens when the CFTR proteins is functioning normally and when it is diseased. Introduction: What is Cystic Fibrosis? Cystic Fibrosis is a genetic disorder that affects the exocrine gland of the lungs, liver, pancreas, and intestines, causing progressive disability due to multisystem failure. Thick mucus and less competent immune system are the results for lung infection. Less secretion of the pancreatic enzymes is the main cause of fatty diarrhea, poor growth, and the lack in fat-soluble vitamins [1]. So far there is no cure for cystic fibrosis. In the United States 1 in 3,900 children are born with Cystic Fibrosis. Most of the people who have CF die at young age, many of them in their 20s and 30s due to lung failure, but with the introduction of new treatments the life of persons with CF is increasing to ages as high as 40 or 50[1]. Results: Cystic Fibrosis is caused by a defect in the gene called Cystic Fibrosis Transmembrane Conductance Regulator (CFTR) [2]. The gene makes a protein that controls the water and salt that come in and out of cells. When the protein is working normally the body produces mucus, sweat, saliva, tears, and dig... ...inhaling antibiotics that are used to treat chronic and acute affections. [1]. Lung transplantation has become increasingly common for people wit Cystic Fibrosis. Liver transplant have also been successfully with patient with end of liver disease. Scientist are trying to find a way to keep the ion channel open longer in order to allow more time for ion exchange. A few attempts of gene therapy were successful, but failed to produce a long term result [6]. Literature Cited: www.Wikipedia.org [1] www.Chronicillness.suite101.com/article.cfm/what_causes_cystic_fibrosis[2] www.ghr.nml.nih.gov/condition=congenitalbilateralabsenceofthevasdefiniton[3] www.ionchannels.org [4] www.google.com/images [5] www.respiratory-lung.health-cares.net/cystic-fibrosis-complications.php [6] http://www.ornl.gov/sci/techresources/Human_Genome/posters/chromosome/cftr.shtml [7]

Difference And Inequality Essay

City Road is a good place to investigate inequality and differences as it plays host to a variety of different people, businesses and cultures. Inequalities and differences can be observed just by walking along City Road in the changes that have taken place, in the people that we meet and in the shops that we see, and can be measured in in many different ways. Inequality is prevalent all over the world and can be for various reasons. To discover where inequality and difference can occur we can compare the lives and circumstances of different individuals by asking questions and looking deeper into their stories to see if there is a pattern, in doing so we can get a sense of how inequality can occur. In the first video we heard from John Arthur, a homeless resident of City Road. John tells us of his childhood and how he started to drink at a very early age, he tells us that as an adult he made bad choices and even spent time in prison for his actions. John explains how he never felt like he fitted in anywhere, and blames this on his earlier years. This example in my opinion shows an unequal distribution of circumstance and care as a child and has directly impacted his place in society as an adult. As we compare John Arthurs`s story to Mark Hocking the differences are immediately obvious. Mark`s circumstances and social standing are better than John Arthur`s because Mark Hocking is well known and has a respected and well known business. Mark Hocking tells us how he had a car repair garage which did well in the early days, and he even managed to sell a few cars from the forecourt, however due to larger car show rooms emerging Mark felt his place on the street was in danger so he took the opportunity to reinvent his business and is now a well-established company making bespoke architectural items to order. John Arthur and Mark Hocking are excellent examples of how different lives and circumstances can affect your place in society, and how inequality can occur just by where you are born and how it can create differences in opportunities and income. In conclusion Inequalities can be defined in many different ways, through culture, distribution of resources, wealth, social stature and opportunity and many more.

The Good Earth’s Relationship Between Wang Lung and O-Lan

The relationship between O-lan and Wang Lung is stabilized by O-lan’s hard work and resourcefulness, based largely upon a woman’s inferiority, and threatened by superficial tendencies. Their affiliation also ends romantically with the loss of love and is regretted, in the end, with sufficient sympathy. O-lan proves to be beneficial through means of outdoor labor. In the afternoon she took a hoe and a basket and these upon her shoulder she went to the main road leading into the city where mules and donkeys and horses carried burdens to and fro, and there she picked the droppings from the animals and carried it home and piled the manure in the dooryard for fertilizer for the fields† (Buck 29). O-lan also proves her helpfulness by performing household chores, to much of Wang Lung’s appreciation. â€Å"And she took their ragged clothes and with thread herself spun on a bamboo spindle from a wad of cotton she mended and contrived to cover the rents in their win ter clothes† (Buck 29).Although this is true, Wang Lung’s gratitude towards O-lan appears repressed as he constantly hides his feelings for her in the beginning. The protagonist immediately becomes mortified by his affection for O-lan. â€Å"And then he was ashamed of his own curiosity and of his interest in her† (Buck 30). Wang Lung subsequently attempts to dissuade these thoughts. O-lan’s aid and usefulness obviously weakens the tension between both spouses and creates a more mutual, stable life at home. Arguments are rarely heard amongst the lips of either husband or wife.This may be due to O-lan’s unusual quietness. â€Å"But she never talked, this woman, except for the brief necessities of life† (Buck 30). This silence almost utterly terminates all heated conversations. However, it also enhances her appearance as a slave and overall working image. â€Å"But in the day her clothes, her plain blue cotton coat and trousers, covered all tha t he knew, and she was like a faithful, speechless serving maid, who is only a serving maid and nothing more† (Buck 30). Women, in ancient cultures are, as shown in The Good Earth, thought to be of lesser value than that of men. She was, after all, only a woman† (Buck 30). On numerous occasions, O-lan is treated as if she is a piece of property obtained by her new husband. â€Å"It seemed that during these next months he did nothing except watch this woman of his† (Buck 28). Wang Lung acts this way due to the environment in which he grew from, where both elders and men reign, leaving women at the bottom of the totem pole. Wang Lung’s uncle once questioned, â€Å"Have you not heard it said that in the Sacred Edicts it is commanded that a man is never to correct an elder,† (Buck 66).As the novel progresses, Wang Lung’s thoughts of his wife’s exterior begin to surface as superficial tendencies emerge. He complains of her horrid hair and ro ugh features. â€Å"He saw for the first time that her hair was rough and brown and unoiled and that her face was large and flat coarse-skinned, and her features too large altogether and without any sort of beauty or light† (Buck 179-180). These cruel comments are the first slap in the face of O-lan, as Wang Lung’s manly instincts begin to kick in and he discovers beauty abroad.Lotus enters the story when Wang Lung gives into the temptation of lust. He buys her, despite the fact that he is a married man. Threatening the relationship between O-lan and Wang Lung, Lotus slowly tears the couple apart even more than they were before. Earlier in the novel, during the raid of an aristocrat’s home, O-lan finds many valuable gems within the walls. Once money becomes a necessity, Wang Lung asks for the gems in order to grant them to the House of Hwang in return for additional land.O-lan is allowed to keep only two of her choosing and she quickly decides on two pearls: And he was moved by something he did not understand and he pulled the jewels from his bosom and unwrapped them and handed them to her in silence, and she searched among the glittering colors, her hard brown hand turning over the stones delicately and lingeringly until she found the two smooth white pearls, and these she took, and tying up the others again, she gave them back to him. (Buck 157-158) These white spheres represent more than just the upcoming twins. They also symbolize Wang Lung’s love for O-lan, no matter how limited it may be.Once Wang Lung becomes completely entangled inside Lotus’s web of desire, he demands that O-lan give him the pearls at once so he could, in turn, award them to his concubine. This simple act may be construed as Wang Lung’s thievery of his affection for O-lan and Lotus’s gain in the matter. As O-lan begins to die, she utters a phrase that entirely reveals all of her inner thoughts. â€Å"Well I know I am ugly and cannot be loved—,† (Buck 277). These ideas show her lack in confidence that may have been even more destroyed with Wang Lung’s brutal behavior and harsh words.Wang Lung, however, felt guilt beyond measure and â€Å"wondered and grieved at himself most of all because what she said was true, and even when he took her hand, desiring truly that she feel his tenderness towards her, he was ashamed because he could feel no tenderness, no melting of the heart such as Lotus could win from him with a pout of her lips† (Buck 277). This not only serves as evidence of Wang Lung’s sympathy towards O-lan and his regret for everything that he induced. It also reiterates the fact that Wang Lung and O-lan’s relationship changed instantaneously as his feelings for Lotus blossomed.

Gambling: poker and slot machines Essay

Gambling is a game in which winning is completely or mostly dependent not on the art of play, but on luck. It has long been recognized as an adult pastime but in recent years, however, gambling has increased significantly among adolescents who have grown up in a culture more tolerant to gambling than any previous generation. Movies, TV shows, and more acceptable online betting have helped embed gambling in youth culture. Poker tournaments and lotteries have become social activities at university campuses that best assemble friends and create enormous interest among them. For many people, such gambling activities are harmless, but for others, a simple game of chance may turn into a serious problem or life-impeding addiction. Although many students may feel that they are in control of the situation, unconsciously their behavior is changed, and is in the hands of arbitrary betting. Young and ambitious students are heavily affected by long-term gambling, not realizing its dreadful payoffs. These can result in unexplained absences at home and university. These threaten their academic performance, lead to financial bankruptcy and moreover, have negative impact on overall health. Gambling is one of the oldest avocations of humankind. Due to the cave drawings illustrating gambling and the dice that have been found during archeological excavations, historians believe that gambling existed even in tribal societies. Gambling is also mentioned in the mythology of ancient Greece. According to one of the legends, after defeating the Titans, Zeus and his brothers Poseidon and Hades became masters of the universe. They decided to throw dice in order to divide the universe among them. King Henry VIII, known for his intelligence, was also an avid gambler. In spite of this he banned gambling in his country after he discovered that his soldiers were playing more than practicing. In more recent history, people played to predict the abundant of harvest. On the other hand the attitude towards gambling of the most popular religions is mostly negative. Nowadays gambling is classified as a highly addictive compulsive disorder with neurological causes. People believe that a string of losses makes a win more likely. They believe that a winning hand should always substitute a losing hand. This is what they tend to believe, but their beliefs do not create more chances of winning. The brains of people anticipating a win in casinos appear to react much like those taking euphoria-inducing drugs. Neuroscientists claim that the parts of the brain that respond to the prospects of winning or losing money while gambling are the same as those that appear to respond to cocaine and morphine. Researchers used magnetic resonance imaging to map the brain responses of twelve men while they participated in a game of chance involving winning or losing money. They found that in the gambling experiment, blood flow to the brain changed in ways similar to that seen in other experiments during an infusion of cocaine in subjects addicted to that drug and to low doses of morphine in drug-free individuals (â€Å"Gambling Affects Brain Like Drugs†). Gambling seriously captures the whole brain and has a strong negative impact on it. Ann Klinestivet from Milton, W. Va provides a vivid illustration of brain damage from slot machines (Lehrer). Having been diagnosed with Parkinson’s disease; she was desperate to find something that might calm the tremors caused by the terrible disease. She found relief in slot machines, but from time to time she needed more doses to stay calm and that is when she became an addict. Parkinson’s disease is caused by decreased dopamine, but slots machines served as a medication for Klinestivet, imitating the effects of dopamine, as it plays a core role in brain pleasure. She had lost huge amount of money and it could not continue any longer, so she was forced to stop. Her tremors worsened, though her addiction to gambling vanished. One of the biggest problems of gambling is that it may start off as innocent competition, for example, two teens playing a computer game, and one saying that he can beat his rival several times in a row or something of the sort. This might end up with further intensive competition, or turn into some kind of situation where money or anything of value will be included. The game itself seems to be not illegal or really addictive, but that is the proposal of the teen what involves gambling. Typically, student gambling involves lotteries, card games, and slot machines. It is said among students that gambling has been popularized and glamourized by poker games. Poker games have huge increase on television shows and all over the world in the twenty-first century. It is one of not many games that involve the individual skills of playing along with cards dealt. Many young poker players that took place in the World Series of Poker with the help of luck won the biggest tournaments in their lifetime and that serves as a motivation for beginners who are just starting. Students tend to think that poker may change their lives, and make them popular, moreover, reduce the need to study. An example could be Joe Cada, who at age twenty one, which is considered to be a legal age in the United States for gambling, became a winner of the Main Event at a poker tournament and received more than eight million dollars. Adolescents gamble for fun; to socialize, to relax, and to have the adrenaline rush in their bodies from time to time. They also gamble to escape home and university problems, to alleviate feelings of loneliness, and disconnection. Addicted gamblers care about nothing, but the game and its winnings. They may not get enough sleep, miss out all the daily activities; their main goal is to be in the game and try to win as much as they can. Usually the result is against them, because when losing a small amount of money, they try to gain it back and start gambling for more and more. It comes to the point when they realize that no money is left and they have lost quite a fortune. The most dreadful nightmare begins after they borrow money and bury themselves in debts. The National Council on Problem Gambling has estimated that approximately 6% of college students have a serious gambling addiction. A little over 5% suffer from bankruptcy and debts caused by regular gambling. Since 1975, the proportion of adults â€Å"who never gambled† has dropped from 1 in 3 to 1 in 7 (â€Å"Gambling & Spending†). Students who became the victims of gambling and lose most of their savings or even their parents’ money have higher rates of depression and noticeable changes in their behavior; they become less willing to be involved in any activity and most of their thoughts are related to gambling. ABC News has recently published a story about one college student, Ryan. Every single day, not depending on the activities he was busy with, he returned home until midnight and gambled on online poker sites till five in the morning. He eventually stopped doing anything and gained over 40 pounds, moreover, he could lose as much as $25,000 in a single night. Ultimately, his parents found out that he stole money from their savings and lost most of it, they decided to pull him out of university and now he is left with a $10,000 debt. Nowadays, a major issue in gambling among students is that the dedication to gaming is so important; they simply start spending nights in casinos, or other places gambling, in the meantime, forgetting about their family and studying. The urge to gamble is so addictive, that it becomes the most important daily activity. For instance, I have conducted a survey among students in the University of New York in Prague, and five students out of twenty four who filled out the survey claimed that they gamble several times a week and it affects their academic success. Only four students stated that they had never gambled in their lives, and all of them were females. My personal opinion is that women are less reluctant to gambling in general; they simply do not develop strong passion towards gambling. The same students who claimed that their academic performance is influenced by gambling, also acknowledged that gambling alters their relationship with relatives and friends. Instead of spending time with people who are willing to help you any time you are in need of it, they preferred to waste time in vain. Most of students who gamble in order to gain some profit, do not realize that â€Å"the house always wins† (Ocean, 2001). The ones who do not stop gambling even when losing, wait for the sweet win; the feeling of victory is so satisfying that most young gamblers are willing to expect it for long. The survey reports that sixteen students, which is almost 70% of people surveyed, after a win have a strong desire to come back and win more. Analyzing results of my survey it is clearly indicates the support of world statistics, even though later after survey, students confessed in not truly answering some of the questions. Some students are ashamed of their gambling habit and that slightly influences the results. Many addicted students realize that gambling addiction will cause serious problems in future life and to prevent it, they seek different treatments in the early steps of addiction. As the gambler’s mind is open to absorption and imaginative involvement, it can effectively be treated by hypnosis. This kind of therapy is considered not only to treat gambling addiction, but also to end depression and relieve stress. Hypnosis therapy helps gamblers to diminish their urge to gamble, and as a result, the players can decrease their addiction. In addition, hypnosis therapy teaches and helps a person to change his opinion about gambling. While the person is changing his mind about gambling, therapists try to develop new behaviors in the patient. They try to help the person to organize his day and fulfill it with activities not related to gambling. If the person is married, therapists try to make that person more related to his family and spend the time with his children, if he has them. For those who gamble because of tedium, therapists try to find other ways or activities to make them interested. It may also happen that the patient changes his mind, but gambling thoughts will still exist at a rudimentary level. Cognitive-behavioral therapy for problem gambling is also considered as an option for quitting gambling. It aims to alter threatening of gambling behaviors and thoughts, such as rationalizations and false beliefs. It helps gamblers deal with uncomfortable situations rather than escape them through gambling. Main goal of the therapy is to change ones thoughts toward gambling and look at it in a new way. Ben’s story is presented for illustrative purposes. Ben as a child believed that number seven was his lucky number, and throughout his student years he became an addictive gambler. He would always bet on his favorite number when he had a chance. Loss of all his money did not stop him and it continued to worsen. Linette, Ben’s cognitive behavioral therapist, helped him realize that his thought of number seven being his lucky number is an error that have occurred in his brain since childhood (Hartney). The other way to help preventing problem gambling could be effective awareness events and programs on gambling. Such kind of events and programs engage university and college students in a humorous and informative way. Coordinators of these programs explain the real chances of winning and losing, introduce the symptoms of problem gambling and offer certain ways to keep gambling safer. One of my friends who was just staring to get involved in the world of gambling, realized that the further it goes, the stronger he suffers from gambling. He decided to visit several awareness events on gambling. Later he told me that the program itself is made in a way to distract students from heavy gambling and explain all the negative effects of it. The reason it works out for most of the students who attend events is because hosts of those events repeat terrible affects so many times that it stays in gamblers’ mind for long. For many years student gambling has been a major topic of discussion. Much research and surveys have been conducted to understand the main reasons for students gambling. Clinical counselors and specialists claim that there are some ways to gamble responsibly, such as setting a time and a budget limit, accepting losses as the cost of entertainment and never borrowing money to gamble (Wallisch). However, the practice shows that even if gambling is done responsibly and handled in a proper way it is still harmful fun. Regrettable consequences of gambling include money problems, neglect toward responsibilities and loved ones, physical and mental health problems and even suicide risk. Thus, universities should have the opportunity to educate students and their parents on the risks of gambling and create an environment where the association of problem gambling with financial and interpersonal problems is clearly understood.

Global Economic Environment Essay

(a) How has Apple capitalized on the globalization of production? What advantages does manufacturing in China offer the company? ANS: Globalization has been a heat topic in these past years. Many international companies will use this advantage for their own production, and Apple is definitely one of the significant examples. Below shown are the ways that Apple capitalized on the globalization of production. Firstly, Apple finds and searches subcontractors from places such as Korea, Taiwan, China and even Germany. It keeps expanding itself by improvements as well. For example, it replaced plastic screens by glass screens in 2004. Secondly, the fact that globalization has made the rules less strict, it becomes easier for Apple to set up factories in different countries. Thirdly, Apple also uses the competitive advantages of foreign locations. For example, this place is an expert of manufacturing particular device then Apple can give this certain task to it and ensures the high quality of the product. Moreover, Apple creates a lot of job opportunities. It employs 43000 people in the states and also supports another 254000 jobs. Some people may point out that jobs only increase for the workers in developing countries, but still thanks to globalization, Apple creates hope and stable salaries for those non-skilled workers. Lastly, globalization allows Apple to spread its fame to the world. Apple not only based on its own ability, but it is also assisted by the trend of globalization and becoming a legend for years. There is a list of advantages of choosing China as a place to manufacture. The core reason will be its low labor costs comparatively. It is known that workers working in FOXCONN are earning $14 a day, which is lower than those in the states. It’s also easy to hire engineers in China. It usually just takes 15 days. It may need months to hire engineers in foreign countries. Also, Chinese subcontractors can give quick responses as the factories are all clustered together. The large population of China may not be a main reason of its advantage, since large population doesn’t mean better workers. However, more people that are in that area, more suitable choices that Apple can choose, so this may be one of the minor advantage as well. Besides, China is a developing country where everybody is looking for a stable job. The workers in China usually wont mind the low labor cost, but they will look for safe and stable ones for their daily necessities. Last but not least, China is claimed to be the location of world factories. It seems to be more experienced in handling complicated machines during the manufacturing process. The above are the advantages that producing in China can offer. (b) Why do you think Apple continues to keep activities like product design, software engineering, and marketing in the United States? ANS: Steve Jobs once mentioned that MacBook is a machine that made in America. This whole idea comes from American designers. More importantly, these activities are called intellectual activities. Intellectual activities represent the collective corporate culture, identity and history of a company. Keeping these activities in the States can grant Apple industry information, trade secrets or special ability to innovate and bring new and better products and services into the marketplace. Apple fosters creativity by proving a flexible corporate atmosphere. Question 2 (a) What are the benefits to a law firm of outsourcing legal services to a foreign country? What are the potential costs and risks? ANS: Outsourcing legal services have three main benefits. Firstly, it lowers the firm’s administrative costs, as salaries of Indian workers are lower undoubtedly. Secondly, it increases the diversity of labor in the company. Since India obviously has a different culture comparing to the States, the culture within the firm will be more diverse and more communications will occur. Thirdly, since these Indian workers do not work directly under the American law environment, they will then work in a more free and relaxed environment. With the existence of the benefits above, there are certain risks that are involved in outsourcing. The workers are not directly supervised by the American law firm therefore the service will then not be guaranteed. If there are any mistakes, the firm will have a worse reputation and image consequently. Also, there may be a chance of exploitation of Indian workers because they have lower bargaining power. In this certain case, the workers will be less devoted during work and have less sense of belonging to that law company. (b) Which group gain from the outsourcing of legal services? Which group loses? On balance, do you think that this kind of outsourcing is a good thing, or a bad thing? Why? ANS: Using a monetary point of view, the owners of the firm surely gain from the reduction in costs. Besides, the US firms will earn by enlarging its profits. Most significantly, the Indian workers are gaining from this outsourcing activity. They can have a stable profession in the States and they may earn a higher salary comparing to the low skilled jobs provided in India. For the groups that will lose, they are the US lawyers or some of the Indian workers in special cases. The US lawyers may have difficulties in finding jobs since the Indian workers are hired. There will be then less US lawyers will be considered by those US law firms. Indian workers may also lose at the same time if they are being exploited or not having enough welfare from the law firms. Outsourcing has advantages, but meanwhile also disadvantages. Let’s start with its good deeds. It’s a good thing when it can lower labor cost and enhance labor diversity. It also reduces the money needed in recruitment due to the large amount of suitable candidates in India. It also helps to increase the disposable income of citizens in both countries. It also links up the two countries that are involved, bonding them with a sense of partnership. However, outsourcing has certain potential harms. Workers face a more intense competition since there are more choices of workers due to outsourcing. Therefore, the Indian workers will feel more stressful in this way. Also, more monitoring work is needed for the quality of work in order to reduce the occurrence of errors. All in all, with balanced managing skills, outsourcing will then be a good deed to grant benefits to both countries involved, which will be India and the States if it’s in this case in this question. (c) Why were the services in this case outsourced to India, as opposed to another country such as China? What does this tell you about the kinds of factors that are important when a firm is considering whether to outsource a value creation activity, and where to outsource it to? ANS: The reasons include same law systems, amount of law students and the ability of speaking English. Firstly, Indian and US share the same set of laws, then it will be easier for Indian lawyers to handle law cases subcontract from US law firms. For China, it has a different law system with the one in US. If China is chosen, every procedure will be difficult to handle. Secondly, India beats China due to the relatively large amount of law students. More suitable candidates can be chosen in India more than in China. Thirdly, which is an important reason that Indian young lawyers have better English skills than ones in China. English is the mother language of the Indian, it’s easier for them to browse documents or draft contracts for the US law firms. For those in China, they have lower education levels and can only good to perform factory work. Also, US and India share the similar culture while China has a complete different one. This will make the young lawyers easier to communicate with their bosses and share the same common culture with some other US co-workers. There are a few factors that have to be considered while deciding whether to outsource or not. The first one will be the ability and costs of labor. Costs include transportation costs and cost of communication between main firm and subcontractors. If the cost will be lowered in a large proportion, outsource will then be considered. Also, regulations of different locations are core factors as well. Outsourcing needs to focus on different cultures and rules in order to avoid errors or unnecessary violations. The main firm’s own financial status is also another core factor. With more financial power, the certain firm can have a more flexible managing skills and can decide whether outsourcing can really help itself or not. For the choice of locating outsourcing services, developing countries will always be appropriate places due to their low cost labor, which makes everything easier. For example, the most popular two choices would be Indian and China, with many suitable candidates and low standard of living. Question 3 (ai) What are the important challenges faced by managers specifically in an international business? ANS: International business enjoys a large economy of scale, but it suffers from challenges at the same time. First, it requires a long time in reaching consensus between different contractors and departments. It is because parts of the manufacturing are too dispersed. It’s hard for them to communicate or reach consensus. They may need to make numerous phone calls or hold long period of conference video to reach a final decision. Secondly, international business tends to have more conflicts due to the different culture adopted in different places. Contractors may argue about some rules and have different opinions due to different religions. Thirdly, international business can no longer produce standardized product. They need to produce different types of product to satisfy the demand of different cultures. For example, for McDonald, they change their menu in India and produces rice in Hong Kong for people who need to have quick lunch. Last but not least, international business also needs to spend more effort on deciding where should they set up their factories. It’s hard for them to decide. They need accurate measurements and discussions to find perfect locations for their factories. In order to stay competitive, international business has to make sure that it can handle these challenges by overcoming it and also solving it with appropriate and efficient measures. aii) In this context, how is managing an international business different from managing a purely domestic business? ANS: In terms of law and regulations, international business needs more effort to deal with these issues in satisfying every demand of different countries. In contrast, local domestic business needs not to consider, it can just focus on itself and think creative ways to attract its domestic buyers. International business and local business share different ways of promotion and employment. International business needs much more expenses on promotion. It needs to spread its fame to every corner of the world, which means that more promotion fees will needed to be paid. Also, international business has a larger structure. It needs more people to work for them than the domestic ones. They may need managers, associates and overseas managers. More people needed to be hired and meanwhile more employment will be paid by the international business. Besides, international business sometimes will be less unique as they will always produce standardized products while domestic ones will be more able to remain its own special features and attract customers in the same way. Also, international business is always harder to run. It needs to overcome more challenges then domestic ones do. It must use a proper way to enter the market which to avoid violations and conflicts. The above are the differences between international business and domestic business. (b) Analyze the arguments for and against globalization with regards to: (i) Jobs and income ANS: Globalization creates lots of job opportunities for both skilled and non-skilled workers, but it may cause a small group of people to become unemployed due to the shifting of jobs. Job efficiency may be attained as well since globalization allows a better utilization of workers. It also enhances more stable job positions. Globalization leads to competitive working environment. Everyone fights for a better job and reputation. The intense competition will make some companies to cut off some deadweight. Some unlucky employees may lose their jobs in this way. In terms of income, people enjoy an increased disposable income, meaning they have a better living standard. However, intense competition may lower the income levels of certain employees as some companies may cut cost in both hiring and welfare. (ii) Labor and environmental protection ANS: Social responsibility is a main issue of globalization. It may provide a better working environment for employees. For example, Google is a perfect example. It’s such a huge organization that creates an enormous working campus for its workers. It hires so many experts as it provides a technological and comfy place for them to work in. Labor there can enjoy welfare from work. Globalization grants companies better resources from all over the world that they can have more abilities to protect their own workers. In the contrary, globalization may lead to a worse environment of the world. Less focus will put on the environment issues since every company is just thinking ways to earn profit. Waste and pollution may increase. Those international companies may just ignore the fact that they are producing much harm to the environment around, but they will just remain their pace of production. They will aim at efficiency no matter it is underproduction or overproduction. All in all, for those who support globalization, they are usually richer and tougher. They also rule themselves with stricter regulations. They also will claim that globalization can enhance specialization and also division of labor. They enjoy the comparative advantage that globalization grants and try their best to enter the global economy. Reference: News Report: 3 More FOXCONN Employees Commit Suicide http://www. pcmag. com/article2/0,2817,2419223,00. asp Videos: World Business: Legal Outsourcing in India 12/11/2010 http://www. youtube. com/watch? v=EKuVICAdwB0 Made in China: The Real Reasons Why Apple Won’t Build iPhones in the US http://www. youtube. com/watch? v=kikwfJ5BGVE Inside Foxconn: Exclusive look at how an iPad is made http://www. youtube. com/watch? v=5cL60TYY8oQ Readings: http://citeseerx. ist. psu. edu/viewdoc/downloaddoi=10. 1. 1. 202. 9503&rep=rep1&type=pdf

Large Quantities Of Non Biodegradable Waste Environmental Sciences Essay

To being in green standards, hotels must be eligible for environmental patterns within their operation. There are enterprises for bettering hotel public presentation, for case, The Environmental Management System ( EMS ) including the installing of environmentally-friendly merchandises and equipment every bit good as advancing usage of renewable energy engineerings. In EMS term, sustainable hotels need an ecological direction to accomplish environmental direction which must affect the measuring of environmental patterns through scrutinizing. The direction system must hold 3 chief properties ( Welford, 1995 ) . First, the system should cover all the activities of hotels and every individual in organisation have to be responsible seting it into practical manner. Second, people who are involved in demand to explicitly understand the process, hence preparation is critical for transporting out responsibilities and functions for effectual development. Third, there must be a committedness t o uninterrupted rhythm of betterment in the system in order to make zero negative impact on the environment. The traditional attack embarks on the auditing of the environmental direction system and an appraisal that hotels are run intoing their aims and marks to guarantee that energy is non being utilize unnecessarily during period of low tenancy. The first measure in understanding and practising green hotel is measuring the impact of each hotel installation towards the environment. They could make an energy profile of the hotel and find the major countries where consume the most energy and present actions that could cut down energy usage, initiate the energy efficiency steps by holding regular care, alteration the hotel edifice and edifice sub-system, promoting natural airing, and replacing disused hotel equipment. Furthermore most of energy usage in edifice is extremely inefficient, particularly the infinite conditioning in which the largest user of energy in hotel. It is perchanc e because of hapless insulated walls, roofs, Windowss, heating pipes, hapless direction of illuming and design characteristic that necessitate inordinate energy usage. So the environmental scheme could be achieved through pull offing the 3 chief sectors in a hotel as followers:EnergyA practical programme to conserve energy is to get down with the procedure which will cultivate the greatest nest eggs for the least cost. The indispensable country where major energy economy could be made is in the operation of Heating, Ventilation and Air-Conditioning ( HVAC ) system that can assist forestall the waste of fuel and electricity. To get down with energy nest eggs with sensible cost, hotel equipment and systems can get down with installing of clip switches which control single units in unoccupied countries to work at specified clip, and puting conditions compensators to keep and set optimal temperature harmonizing to the external clime. In order to cut down electrical power, light-reflecti ve surfaces and contemplation are applied to replace electric illuming at the same time with usage of energy-efficient lamps and motion detector visible radiation. Apart from low-priced alterations and betterments, there are besides high costs alongside with long payback periods such as co-generation and renewable energy engineering. The former can besides be called combined heat and power coevals ( CHP ) which makes usage of the coincident production of electricity and heat, besides be harnessed to supply chilling. It is an effectual manner for preservation of energy due to retrieving of energy that might otherwise be release in the ambiance. The later which is be used successfully in many hotels is solar photovoltaic ( PV ) ; panels incorporating solar cells which convert daytime into electricity. It is peculiarly non cover with energy preservation, but besides cut down overall C footmark through cut downing CO2 emanations.WaterHotels consume a big volume of H2O and pollute natura l resources by untreated sewerage. This is the major cause of diseases in homo and serious jobs to populating beings. Minimal demands for H2O efficiency should prerequisite in the design procedure and are carried by puting intent and mark on design and building thereby can ensue in rapid payback by which it can cut down the sum of H2O ingestion. There is core rule that is non on the disbursals of the invitees ‘ comfort but prosecuting with sustainable H2O schemes. For case, conserving waste H2O that has been used in sink and bath can cut down the hazard of H2O pollution by recycling it for landscaping or in toilet systems, recycling of H2O every bit far as possible, mending of pipe escapes, installing of water-saving devices, and information of forces about H2O preservation patterns every bit good as engagement of invitees ( B & A ; uuml ; gler, 2011 ) . In endeavoring to go more water-efficient, hotels must eager to better on H2O ingestion rates by utilizing water-saving engi neerings in countries of major usage. In each room will hold cusps to inform invitee that sheets and towels are non automatically changed every twenty-four hours during stay, therefore diminishing use of H2O, energy and harmful detergents.WasteThe big measures of solid and liquid wastes spoil the surrounding environment and landscape due to inadequate direction and handling. It is hence necessary to minimise wastes at beginning every bit good as the recycle. Successful waste direction programme attends to the ‘3 R ‘s ‘ in precedence order- cut down, reuse and recycle. First of wholly, the hotels must scrutinize the major beginnings of installation ‘s waste watercourse where there are generated from at the same time with finding the costs of intervention and disposal of wastes for each section. Once the appraisal has done the segregation of wastes demands to be organised at beginning and distinguish containers my agencies of labels or pictograms for each type of waste. The decrease of entire sum of waste can be achieved in a figure of ways, viz. , for on-site hotel equipment it should be sustainable merchandises, besides least polluting and used with right process to increase life span, recycling electronic and electric contraptions and donate unwanted points which are still working to local associations. With respect to decrease of packaging wastes, buying should avoid telling little measures and utilizing refillable comfortss dispensers for hygiene merchandises such as soap, lotion, shampoo and conditioner in hotel invitee room can be replaced disposable one ( Ruben, 2011 ) .