Roles and Responsibilities of PACU Nurse

Question: Examine about theRoles and Responsibilities of PACU Nurse. Answer: Presentation Filling in as a Post sedation care unit (PACU) medical caretaker can be a very testing task since it accompanies heaps of obligations and duties that must be tenaciously released. So as to assist a patient with attaining a successful recuperation after sedation, the PACU nurture has an order to completely survey the patients wellbeing status; oversee confirmation; precisely play out the documentation procedure; screen the fundamental signs; and built up an efficient individual consideration plan. Nonetheless, inability to do so can result into a moral and lawful debate that may thusly influence the specialist. Having said this, I might want to unequivocally communicate that I do recall, with a great deal of disappointment, an episode where a PACU nurture was blamed for quiet blunder (Hungness, et al., 2013). The test happened when the professional neglected to play out a legitimate administration of the careful patient because of wasteful aspects in the observing of the patients well being status, ill-advised sedation organization, conflicting documentation, and poor evaluation of the patient. Accordingly, the patient endured inconveniences like tachycardia, retching, and queasiness. This was an appalling occurrence that demonstrated that the PACU nurture had abused the essential moral and lawful methodology that are required in a post sedation care. The infringement caused a blunder that came about into genuine postoperative wounds that made the patient to endure a lot. Along these lines, to address this test, the PACU medical attendant would have taken all the important measures to guarantee that the patient is securely embraced through the postoperative treatment. In the event that the patient clung to the standards of security the executives, the mistake may have been forestalled (Shope, et al., 2016). Which means, no such terrible occurrence would have been experienced if the expert grasped collaboration, viable correspondence, legitimate gear use just as d ynamic inclusion of the patients family and carers. Thus, in light of such infringement, the specialist ought to be constrained to assume liability. The activity suggests that the expert was less worried about the wellbeing of the patient. Something else, purposeful measures could have been taken to convey quality consideration for the wellbeing of the patient. One of the moral commitments of a medical caretaker is privacy. Which means, when serving a patient, the attendant has an ethical duty to save the classification of the patient. Here, it implies that the medical attendant should shun sharing private and classified data about the patient to other unapproved parties including other medicinal services experts, relatives, and the overall population except if in any case expressed in the law, without the assent of the patient (Badzek, Henaghan, Turner Monsen, 2013). The perception of privacy prerequisites suggests that the social insurance supplier should uncover the patients classified wellbeing data to the carers without looking for the endorsement of the concerned patient. It is a legitimate order for the attendant to look for a substantial assent of the patient before taking part in such activities. Thus, when conveying post sedation care, the PACU attendant ought to be guided by the rule of privacy and regard. In this way, when a pat ient rejects that private data ought not be imparted to the carers, PACU medical caretaker ought not neglect to do as such. In the event that the patient is in a steady and cognizant mental express, their assessment ought to be regarded. For this situation, the carers can't gain admittance to private data identifying with the patients wellbeing. Something else, if the patient assents, the medical attendant ought to feel free to scatter private data to the carers to empower them find out much about the patients wellbeing status. This can help the carers in settling on significant choices with respect to the wellbeing plan of the patient. All things considered, the carers are dependable people who are answerable for the patient (Holloway Wheeler, 2013). Be that as it may, regardless of how complex the idea of secrecy can be, the PACU attendant can wind up in a situation particularly when a need emerges to reveal the patients private data t the carers. Despite the fact that the law is very all out on what could possibly be done, professional can regard the issue as a special case and be prepared to uncover the patients private wellbeing data to the carers even without looking for the patients assent. This should be possible when the patient isn't fit for consenting. An unable patient is a minor or intellectually unsound patient who can't make balanced decisions to give a legitimate assent. Should this be the situation, the human services supplier is allowed to uncover the patients private data to the carers (Engel Prentice, 2013). As concerned people, the carers have the right to be furnished with satisfactory data on the patient since it can help them in teaming up with the human services suppliers to settle on significant choice in regards to the soundness of the patient. Nonetheless, the carers ought to guarantee that a similar data is kept hidden and not uncovered to some other unapproved parties. References Badzek, L., Henaghan, M., Turner, M., Monsen, R. (2013). Moral, legitimate, and social issues inthe interpretation of genomics into medicinal services. Diary of Nursing Scholarship, 45(1), 15-24. Engel, J., Prentice, D. (2013). The morals of interprofessional joint effort. Nursing Ethics,20(5), 437-452. Holloway, I., Wheeler, S. (2013). Subjective research in nursing and medicinal services. New York:John Wiley Sons. Hungness, E. S., et al., (2013). Correlation of perioperative results between peroralesophageal myotomy (POEM) and laparoscopic Heller myotomy. Diary ofGastrointestinal Surgery, 17(2), 228-235. Shope, B., et al., (2016). The Nurse Resident in the Pacu: Designing and Implementing aProgram to Support the Transition of New Graduate Nurses into a Post Anesthesia Care Unit (PACU). Diary of PeriAnesthesia Nursing, 31(4), e41.

Organizational Culture Consumer

Question: Expound on theOrganizational Culturefor Consumer. Answer: As a buyer, I have encountered a few culture types that are, family, market, chain of importance and adhocracy culture, (Anon., 2011). Being a devoted client to Samsung, I have come to see that the worldwide organization inclines towards an adhocracy culture whereby it centers around creation, flexibility, and spryness along these lines advancing advancement. This has helped the organization create to be probably the biggest organization on the planet. I imagine that its corporate culture is effectively adjusted to its system. This is clear from its high pace of development step by step. There are extraordinary varieties in the meaning of culture, in this way, coming about to different differences on what authoritative culture is. Without a concurred meaning of culture, it is difficult to decode other significant elements of the organization, for example, structure (Taylor, 2010). People groups meaning of culture may shift in light of the fact that the idea of culture is static and changes after some time. I concur with Bruce Perron meaning of culture as a procedure of sense making in organizations a procedure of concocting shared cognizance out of unmistakable people observations and interests. This is on the grounds that I accept culture includes convictions of a gathering of individuals. For instance, an organization like KFC may have a culture of concentrating on cooperation more than everything else in its tasks. Building a culture-based organization includes filling the association with the correct individuals. An organization ought to be willing and prepared to discover by all methods on the off chance that it in reality has the perfect individuals in its group who can have the option to continue with the companys culture that has empowered it to be as effective as it seems to be. Zappos CEO Tony Hseih and his partners offer a quit reward of $1,000 just with the goal that it can have the correct workers who are focused on keeping up the companys significant culture and client fixation, (Taylor, 2008). There are seven components of authoritative culture creative, forceful, result arranged, stable, individuals situated, group situated and conscientious. Toyota Motor Corporation is one of the best organizations on the planet. Its way of life has assumed an enormous job in its development and extension throughout the years. The organization has confidence in a culture whereby representatives are continually tested to be imaginative, (Spear, 2008). It puts esteems its representatives and the immense effect they have on the organization. Toyota urges its workers to join clubs, which makes a cooperation inside the organization. In spite of its solidness in the market for as far back as 40 years, Toyota advances the way of life of astuteness to maintain a strategic distance from pointless mistakes. I totally concur with the creators suppositions on the unwavering quality of Johnson and Scholes Cultural Web in altering corporate culture. This is a result of the capacity to change any or the entirety of the six components of corporate culture according to the model images, power structures, custom and schedules, legends and stories, authoritative structures and control frameworks. The simplicity of comprehension of the model by workers makes it increasingly valuable, (Anon., n.d.). For instance, one of the upsides of utilizing the typology type is that the initiative group never needs to break their heads.(Giannantonio, 2011) Frederick Winslow Taylor is liable for portraying how efficiency could be improved in organizations utilizing logical techniques for the executives. In his book, The Principles of Scientific Management, he required an adjustment in the manner in which errands were done and making occupations more straightforward enough to such an extent that representatives could be prepared to effectively complete their particular request of movements in the most ideal manner conceivable, (Taylor, 1914). Prior to the beginning of logical administration, long apprenticeships furnished craftsmans with various aptitudes. The skilled workers had the opportunity of choosing how they would accomplish their work. Logical administration noticed that laborers aptitudes were being underutilized; soldiering, (Wredge, 2008). Taylor contended that logical administration was way better the activity and motivating force strategy that gave representatives impetuses then leaving them with the undertaking of making s ense of how they would accomplish the set make. Taylor utilized stopwatches in his time studies to time representatives grouping of movements with the point of setting up the most good method of doing an errand. Frederick Taylor thought of four standards of logical administration: Supplant regular methods of work with techniques established on a logical investigation of the activity. Logically recognize, train and expand representatives as opposed to letting them train themselves. Team up with workers to ensure that experimentally created ways are being clung to. Split up work consistently among directors and representatives with the goal that chiefs plan the work as per the standards while executing the undertakings. Henry Ford embraced these standards and applied them to his industrial facilities frequently bringing about expanding profitability. With time, he made enhancements for the thought. Rather than having laborers go to work, he concocted a mechanical production system through which work was taken to the representatives. Work was additionally separated to the littlest segments, (Levinson, 2012). The transport line moved along a piece of the machine while static workers intermittently added a piece to the vehicle. These turns of events, defending and regularizing of the work procedure, expanded the efficiency as well as drastically decreased the cost Ford's Model T, (Drucker, 2009). In light of the disadvantages of the standards; I dont think laborers in first world nations like Australia, America or Europe can acknowledge Taylorism in the current day. One of the downsides incorporates mental strain from the difficult work of doing likewise again and again. Taylorism got rid of the possibility of important work separated from trading otherworldly and moral compensations for work with material prizes. Content structures utilized in call focuses utilize some type of Taylorism since it includes reiteration of same moment undertakings many occasions in a day. Despite the fact that this clasp shows a clasp of history from 100 years prior, I think there are portions of the world that may discover these thoughts valuable. Creating nations, for example, would discover the standards of logical administration helpful as they endeavor to be industrialized. Executing the standards accurately would bring about high profitability, the formation of work, and significant yields on speculations in this way improvement of expectations for everyday comforts. Catalog Anon., 2011. Culture conflict: When corporate culture battles technique, it can cost you. [Online] Available at: https://knowledge.wpcarey.asu.edu/article.cfm?aid=31 [Accessed 27 April 2017]. Anon., n.d. Utilizing social models for changing corporate culture. [Online] Available at: https://www.changefactory.com.au/articles/change-the board/utilizing social models-for-evolving corporate-culture/. Drucker, P.F., 2009. Information specialist efficiency: The greatest test. California the executives audit, 71(2), pp.79-94. Giannantonio, C.M., 2011. Frederick Winslow Taylor: reflections on the importance of the standards of logical administration. Levinson, W.A., 2012. Henry Ford's lean vision: Enduring standards from the main Ford engine plant. Profitability Press. Lance, S., 2008. MIT's Steven Spear Discusses Toyota's Corporate Culture. [Online] Available at: https://www.youtube.com/watch?v=QCaKFPjfG7s. Taylor, F.W., 1914. The standards of logical administration. Harper. Taylor, B., 2008. Why Zappos Pays New Employees to Quit- - And You Should Too. [Online] Available at: https://www.youtube.com/watch?v=cQLTQAv5JQA [Accessed 27 April 2017]. Taylor, B., 2010. What is Organizational Culture? What's more, Why Should We Care? [Online] Available at: https://blogs.hbr.org/2013/05/what-is-hierarchical culture/[Accessed 27 April 2017]. Wredge, C.D.a.S.A.M., 2008. Cooke makes a work of art: the story behind FW Taylor's standards of logical administration. Institute of Management Review, 32(4), pp.736-49.

Using a Descriptive Essay Outline to Write a Persuasive Essay

Using a Descriptive Essay Outline to Write a Persuasive EssayThe goal of a descriptive essay outline is to establish the purpose of the entire composition and provide a cohesive structure. The fact that the first paragraph establishes the main points and lays out the logical sequence of the rest of the essay means that the descriptive essay outline can act as a guide to the writer. In order to come up with a document that can stand on its own and may serve as a model for others, the writer must follow the outline carefully.It is crucial that a writer is aware of the overall structure before they begin writing. Describing an event from start to finish, in the most effective way possible, is the most important part of writing a persuasive essay. If a writer ignores this essential part of the article, they will most likely have to stop and redo some sections when the ideas run dry. Without a well-developed description of the starting point, writers may also find themselves giving away c ertain details about what has just transpired.For example, if the writer cannot articulate what took place the night before, the overall impact of the essay may suffer. A descriptive essay outline should be clear and to the point. Beginning in the first paragraph, the writer should list the actions that took place and explain why those actions were taken. It is important to use detail and reason in explaining the exact sequence of events, so the reader understands where they must go next. In fact, it is advised that the writer use the same precise words throughout the essay, since these will be the same words that will be spoken.The writer should also try to avoid using certain words that are not commonly used in a written or oral form. For example, if the event involved a kiss, use the word 'kiss' to indicate that the event occurred. If the person was kissed on the cheek, use the word 'on the cheek.'The writer must consider certain specific details when they are deciding how to del iver their message. For example, if the reader finds themselves getting bored easily, then the description should present the topic in a more interesting manner. Most people find themselves becoming more engaged with a descriptive essay outline when they feel the entire composition is starting to come together.The descriptive essay outline should clearly indicate the total length of the essay. After all, an essay is a one-sided document. As a whole, the writer will be giving a basic account of the events that took place. The entire written piece is limited to the space available on the paper. The writer should always consider these limitations as the guide, instead of expecting the events to take place all at once.A descriptive essay outline should be able to address each paragraph in the document. This is especially important in the start of the essay, since it is during this initial part that the reader is most interested in knowing the general direction the material is headed. Wi thout including all of the detail, the writer is sure to leave something out that may leave a lot of space for interpretation.Using a descriptive essay outline will help to ensure that the text is easy to read and comprehend. They also allow the writer to better organize the various pieces of information into the final document. A descriptive essay outline is very helpful in the creation of a persuasive essay.

The Irresoluteness Of Hamlet By William Shakespeare

Peggy Enriquez Mrs. Maloney AP Literature November 13, 2015 The Irresoluteness of Hamlet â€Å"Hamlet† by William Shakespeare, is one of the most popular and influential tragedies in English literature. In his most famous play, the tragic figure is represented through Hamlet. The protagonist, Hamlet, possesses a tragic flaw which alters the result of his goal to achieve revenge for the murder of the former King of Denmark which is also his father. This tragic trait labels him as a character who is destroyed because of a major weakness, due to the fact his death that occurs later on could have possibly been avoided. Hamlet’s flaw of being indecisive, not having or showing the ability to make decisions quickly and effectively, is illustrated when he states his third, second, and sixth soliloquy. First, Hamlet’s flaw of being indecisive is illustrated when he says his third soliloquy, one of the most famous soliloquies in English literature. For instance, his continuous self debate states: Thus conscience does make cowards of us all, And thus the native hue of resolution Is sicklied o er with the pale cast of thought, And enterprises of great pith and moment With this regard their currents turn awry, And lose the name of action. (3.1.84-89) Unlike other characters, Hamlet is well aware of his own weakness, recognizing how he is unable to act in â€Å"to be or not to be†. Procrastination is a significant aspect of Hamlet because this leads to the delay of his revenge being plotted.

Importance of Political Socialization Free Essays

There are many ways that our ideas are shaped and influenced as we grow up. This process by which we develop certain ways of thinking is called political socialization. There are three main influences which change and shape us being, the family, the mass media, and formal education. We will write a custom essay sample on Importance of Political Socialization or any similar topic only for you Order Now The family definitely has the greatest impact on us as we grow. This is primarily because ever since the beginning of childhood we are exposed to the ideas of our parents. Their ideas are the ideas that young children learn, and soon begin to form these ideas are their own. The saying that â€Å"You never get a second chance to make a first impression† holds true here in that this is what first the child is exposed to, and it is hard to get people to change from their original ideas of politics, or anything for that matter. In 1965 Jennings and Niemi selected a sample of high school seniors throughout the country and found that 58.9% of them had chosen the same party as their parents. Another influence on how people are shaped is the Mass Media. Today more and more people are spending more and more time watching television. The average grade school student spends more time watching tv than he or she does at school. The media has been called the â€Å"new parent† by some. However, the programs that would influence political opinion the most, such as the news, are rarely watched by the youth of today. The final major influence of people political socialization is their formal education or school. Countries have historically had government classes in their schools to â€Å"preach† the goodness of their particular type of government. For example, American children have been taught the virtues of capitalism and democracy for years. In Germany, during the Nazi era, children were taught how murders could be justified in certain situations. There are certain types of ways used to measure the public’s opinion once they have been formed. There are usually samples that are performed instead of complete polls because it can save a lot of time. Scientific sampling is polling random people to form the general opinion of many people. In closing, it is evident by reading above that people today are influenced by the Mass Media, schools, and probably most importantly, families. How to cite Importance of Political Socialization, Papers Importance of Political Socialization Free Essays There are many ways that our ideas are shaped and influenced as we grow up. This process by which we develop certain ways of thinking is called political socialization. There are three main influences which change and shape us being, the family, the mass media, and formal education. We will write a custom essay sample on Importance of Political Socialization or any similar topic only for you Order Now The family definitely has the greatest impact on us as we grow. This is primarily because ever since the beginning of childhood we are exposed to the ideas of our parents. Their ideas are the ideas that young children learn, and soon begin to form these ideas are their own. The saying that â€Å"You never get a second chance to make a first impression† holds true here in that this is what first the child is exposed to, and it is hard to get people to change from their original ideas of politics, or anything for that matter. In 1965 Jennings and Niemi selected a sample of high school seniors throughout the country and found that 58.9% of them had chosen the same party as their parents. Another influence on how people are shaped is the Mass Media. Today more and more people are spending more and more time watching television. The average grade school student spends more time watching tv than he or she does at school. The media has been called the â€Å"new parent† by some. However, the programs that would influence political opinion the most, such as the news, are rarely watched by the youth of today. The final major influence of people political socialization is their formal education or school. Countries have historically had government classes in their schools to â€Å"preach† the goodness of their particular type of government. For example, American children have been taught the virtues of capitalism and democracy for years. In Germany, during the Nazi era, children were taught how murders could be justified in certain situations. There are certain types of ways used to measure the public’s opinion once they have been formed. There are usually samples that are performed instead of complete polls because it can save a lot of time. Scientific sampling is polling random people to form the general opinion of many people. In closing, it is evident by reading above that people today are influenced by the Mass Media, schools, and probably most importantly, families. How to cite Importance of Political Socialization, Papers

Who is the person whom affected Essay Example For Students

Who is the person whom affected Essay Everyone is affected by certain events or individuals that greatly change their life. Many people have influenced me during my life. Three wonderful friends that have had a special effect on me are Ryan, Alicia and Ana. In the three years that I have known them well, they have been my best friends, and have helped to transform me from a lonely middle school loner into a happy senior with a decent social life. Popular wisdom has it that, You judge a man by his friends. Earlier in my life, that would have been difficult, because I had few friends other than my cousins. I concentrated mostly on school and TV, paying little attention to life outside my studies. My high grades made me the target of torment during elementary school, the name calling: nerd, geek, and worse, was so bad that I was ostracized by some of the class, and I shielded myself by further isolation. My Middle School experience was no different. I was still a loner. All the dances passed by, and I found other, solitary ways to occupy myself. I rarely took time to hang out with fellow students during weekends or vacation time, I was too busy watching television and playing Nintendo. Then came high school, and in Mrs. Jones Ancient History class I sat next to this energetic guy named Ryan, who joked about the no-brained teenagers working in 7-11s, made fun of the way our teacher dramatized the pronunciation of the Huang-Ho and Yangtze Rivers, and satirized the teachers methodology of hand-signals for facts, generalizations, and cause/effect. Finding common ground in our senses of humor and love of the TV Simpsons, we grew acquainted with each other. Later in the year we teamed up as the defense lawyers in a class debate trial in which Mao Zedong was charged with crimes against the people of China. To Mrs. Jones dismay, legal wrangling caused the debate trial to last two weeks, even though she had planned for it to take three days, until it was resolved by a split decision, with the jury voting 6 gui lty and 6 innocent. More important than the result was the experience of friendship and shared learning. We each had a great deal of fun preparing questions for the witnesses and planning our cross-examinations, and after the trial we remained good friends. Tenth grade would be a notable year. Ryan introduced me to Alicia and Ana, our classmates in English. The four of us had a great time making our first home movie, based on the allegory Redwall, at Ryans house. Our filming day coincided with a storm, so the outside scenes were hilarious. Plus, when we jumped up against the side of Ryans house, we knocked down some books off a shelf inside. In the end, we all had a great laugh watching our final product. In March, Ana invited me to her sweet Fifteenth-birthday party, the first major social occasion that I had attended in years. I will always remember the wonderful time we all had dancing and celebrating. Later in the year, we made another movie for English class, which was more of a satire. We will write a custom essay on Who is the person whom affected specifically for you for only $16.38 $13.9/page Order now In it we managed to include many of our history teacher Mrs. Lemmas infamous quotes by working them into the lines of Basil Stag Hare, a character from the Redwall novel who often spoke in nonsense. In June Ana invited Alicia and me to her house for a study party, hoping that we could learn enough of World History to excel on the mid term finals exam. After wasting most of the afternoon watching TV, we highlighted the review book, and we were finally ready for the big test. Last fall Ana and Alicia convinced me to go to the Homecoming dance, and I began to realize all the fun that life has to offer. It was only natural that the group of us had an even better time at our Junior Prom. I must admit that if I had never met them, I would have missed out on the complete experience of a truly special occasion. On a Halloween party we all went dressed in costumes, with Ryan dressed as an outrageous mime and I in the less exotic costume of a carpetbagger. That night we took a trip through th e haunted house; we were blinded by the strobe light in the basement, and scared out of our wits when a ghost jumped out of a fake coffin and started up a chain saw. Now, as the first to have a drivers license, Ive become the chauffeur to dances, movies, and restaurants. As one might guess, Al, Ray and Ana have all exerted a positive influence on me. Now that Im a senior and no longer live near my best friends, not even in the same country, I have a more sense of self-confidence that ignited from these three marvelous persons. This self-confidence has helped me create a new home in Brazil. So you can certainly see that not only have these persons most influenced me, but left foot prints on my soulBibliography:

Zinacantecos Indians essays

Zinacantecos Indians essays The Zinacantecos have changed moderately over time but their strong heritage and belief systems have been carried through to present times. The language has stayed intact over several thousand years mainly because of its importance in expressing their cosmology, which in essence is the main principle upon which they live their lives. They have adopted some Spanish words and are all learning Spanish in school but their own language as well as many of their beliefs and rituals are still practiced within their social units. The Zinacanteco universe is based around a quadrilateral cosmos. There is a center of their above world called the "navel" which is a mound of earth in the Zinacantan ceremonial center. The entire world is extended from this navel. The four points that surround this center indicate the Vashak-Men or the "Four-Corner Gods". The significance of these gods and their connection with nature is proven when they see natural disasters as a theory of population control or as punishment for sins. An earthquake is experienced when the gods are tired and they are shifting the excessive burden from shoulder to shoulder, the earthquake is thought to kill enough people to balance out the burden. As I alluded to previously, they also believe in an upper and lower world. The upper world is the surface upon which humans live. The lower world consists of monkeys and dwarfs that evolved when the gods failed at making humans the first time around. The Katin-Bak translates as the "place warmed by bones", this corresponds to the Christian hell as it is a deep hole somewhere inside the earth. The Sun is referred to as "Our Father Heat". Its path determines the basic directions that guide the Zinacantecos orientation on the surface of the earth. The "place where the sun rises" or in translation the east is the most important because they direct all of their religious ceremonies and rituals in this direction. Venus was coined th...

American Civil War - Battle of Hampton Roads

American Civil War - Battle of Hampton Roads The Battle of Hampton Roads was fought March 8-9, 1862, and was part of the American Civil War. Fleets Commanders Union Flag Officer Louis M. GoldsboroughLieutenant John L. Worden1 ironclad, 2 screw frigates, 2 frigates, 1 sloop of war Confederate Flag Officer Franklin Buchanan1 ironclad, 3 gunboats, 2 tenders Background Following the outbreak of the Civil War in April 1860, Confederate forces seized the Norfolk Navy Yard from the US Navy. Prior to evacuating, the Navy burned several ships in the yard including the relatively new steam frigate USS Merrimack. Commissioned in 1856, Merrimack only burned to the waterline and most of its machinery remained intact. With the Union blockade of the Confederacy tightening, Confederate Secretary of the Navy Stephen Mallory began searching for ways in which his small force could challenge the enemy. Ironclads One avenue that Mallory elected to follow was the development of ironclad, armored warships. The first of these, the French La Gloire and British HMS Warrior, had appeared in the last year. Consulting John M. Brooke, John L. Porter, and William P. Williamson, Mallory began pushing the ironclad program forward but found that the South lacked the industrial capacity to build the needed steam engines in a timely manner. Upon learning this, Williamson suggested using the engines and remains of the former Merrimack. Porter soon submitted revised plans to Mallory that based the new ship around Merrimacks powerplant. Approved on July 11, 1861, work soon began at Norfolk on the casemate ironclad CSS Virginia. The interest in ironclad technology was also shared by the Union Navy which placed orders for three experimental ironclads in mid-1861. Key among these was inventor John Ericssons USS Monitor which mounted two guns in a revolving turret. Launched January 30, 1862, Monitor was commissioned in late February with Lieutenant John L. Worden in command. Aware of Confederate ironclad efforts at Norfolk, the new ship departed New York Navy Yard on March 6. CSS Virginia Strikes At Norfolk, work on Virginia continued and the ship was commissioned on February 17, 1862, with Flag Officer Franklin Buchanan in command. Armed with ten heavy guns, Virginia also featured a heavy iron ram on its bow. This was incorporated due to the designers belief that ironclads would be unable to harm each other with gunfire. A distinguished veteran of the US Navy, Buchanan was eager to test the ship and sailed on March 8 to attack Union warships in Hampton Roads despite the fact that workmen were still on board. The tenders CSS Raleigh and Beaufort accompanied Buchanan. Steaming down the Elizabeth River, Virginia found five warships of Flag Officer Louis Goldsboroughs North Atlantic Blockading Squadron anchored in Hampton Roads near the protective guns of Fortress Monroe. Joined by three gunboats from the James River Squadron, Buchanan singled out the sloop of war USS Cumberland (24 guns) and charged forward. Though initially unsure what to make of the strange new ship, Union sailors aboard the frigate USS Congress (44) opened fire as Virginia passed. Returning fire, Buchanans guns inflicted significant damage on Congress. Engaging Cumberland, Virginia pounded the wooden ship as the Union shells bounced off its armor. After crossing Cumberlands bow and raking it with fire, Buchanan rammed it in an effort to save gunpowder. Piercing the Union ships side, part of Virginias ram detached as it was withdrawn. Sinking, Cumberlands crew gallantly fought the ship until the end. Next, Virginia turned its attention to Congress which had grounded in an attempt to close with the Confederate ironclad. Joined by his gunboats, Buchanan engaged the frigate from a distance and compelled it to strike its colors after an hour of fighting. Ordering his tenders forward to receive the ships surrender, Buchanan was angered when Union troops ashore, not understanding the situation, opened fire. Returning fire from Virginias deck with a carbine, he was wounded in the thigh by a Union bullet. In retaliation, Buchanan ordered Congress be shelled with incendiary hot shot. Catching on fire, Congress burned throughout the rest of the day exploded that night. Pressing his attack, Buchanan attempted to move against the steam frigate USS Minnesota (50), but was unable to inflict any damage as the Union ship fled into shallow water and ran aground. Withdrawing due to darkness, Virginia had won a stunning victory, but had taken damage amounting to two guns disabled, its ram lost, several armored plates damaged, and its smoke stack riddled. As temporary repairs were made during the night, command devolved to Lieutenant Catesby ap Roger Jones. In Hampton Roads, the situation of the Union fleet improved dramatically that night with the arrival of Monitor from New York. Taking a defensive position to protect Minnesota and the frigate USS St. Lawrence (44), the ironclad awaited Virginias return. Clash of the Ironclads Returning to Hampton Roads in the morning, Jones anticipated an easy victory and initially ignored the strange-looking Monitor. Moving to engage, the two ships soon opened the first battle between ironclad warships. Pounding each other for over four hours, neither was able to inflict significant damage on the other. Though Monitors heavier guns were able to crack Virginias armor, the Confederates scored a hit on their adversarys pilot house temporarily blinding Worden. Taking command, Lieutenant Samuel D. Greene drew the ship away, leading Jones to believe that he had won. Unable to reach Minnesota, and with his ship damaged, Jones began moving towards Norfolk. At this time, Monitor returned to the fight. Seeing Virginia retreating and with orders to protect Minnesota, Greene elected not to pursue. Aftermath The fighting at Hampton Roads cost the Union navy the loss of USS Cumberland and Congress, as well as 261 killed and 108 wounded. Confederate casualties were 7 killed and 17 wounded. Despite the heavier losses, Hampton Roads proved a strategic victory for the Union as the blockade remained intact. The battle itself signaled the demise of wooden warships and the rise of armored vessels built of iron and steel. Over the next several weeks a standoff ensued as Virginia attempted to engage Monitor on several occasions but was refused as Monitor was under presidential orders to avoid battle unless absolutely required. This was due to President Abraham Lincolns fear that the ship would be lost allowing Virginia to take control of the Chesapeake Bay. On May 11, after Union troops captured Norfolk, the Confederates burned Virginia to prevent its capture. Monitor was lost in a storm off Cape Hatteras on December 31, 1862.

Avis Europe Good Corporate Citizens of the Society Essay

Avis Europe Good Corporate Citizens of the Society - Essay Example The company is now enjoying around 16% market share in U.K. The company provides rental stations through three business formats such as corporate locations, agency location and franchise location. The Budget variety, belonging to Avis Europe in March 2003, provides for customers in above 1,000 places within 65 countries. These are contract-based firms with corporate offices in Austria and Switzerland, France and the UK.   Avis Europe aims to be the leading rental car company while maintaining very high ethical standards. Avis works on the Philosophy of ‘Kaizen’ or Continuous Improvement, which they coin by the phrase â€Å"We Try Harder†. A person named Warren Avis founded Avis Europe. He was a war pilot who after being discharged from US war force came out to design his car rental company. He thought of tapping the niche market of Airport Car Rental Service. The first airports the company tapped were Miami and Detroit. The success of the company can be traced from the fact that in about seven years it rose to the second position behind companies like Hertz and Lazard Freres. Keeping in mind the philosophy of continuous improvement their mission is to build a long-term relationship with stakeholders in the business. They also consider customer loyalty as the focus area. According to a survey report prepared by U.S research organization, Avis is one of the top companies from the vi ewpoint of customer loyalty. Retention of customers in a highly competitive market is always a difficult task. Therefore, they are very much focused on this. In terms of their vision, Avis Europe wants to establish themselves as good corporate citizens of the society. Gaining customer loyalty is their prime goal in this respect. They are also adopting many strategies to project themselves to the society as a good & responsible company. They are equally caring about their employees, suppliers, shareholders,  environment community and society.  

Article that illustrates supply and demand Example | Topics and Well Written Essays - 250 words

That illustrates supply and demand - Article Example Additionally, apart from the global shift in the oil pricing, the US economy is rebounded from the eight months low profitability index in that period. Fluctuations in oil pricing have a prominent effect on the nation’s economic activities, which directly related to the economic growth. In this context, every respective activities of the nation are identified to be depended on the oil prices due to globalization and liberalization, which led to high reliance over the import and export operations. The changes in the prices of the oil will have transformed the real pricing of goods and/or services. Moreover, prices are one of the key variables in the economic term, which highly affects the demand along with supply of the same. In this regard, it can be stated that the major determinant of the oil prices includes the demand as well as supply and the market sentiment. Moreover, different nations are also identified to have high contribution towards oil consumption, which correspon dingly affects the pricing policies. While, assessment of the article it can be recognized that rise in the oil price will decelerates economic growth of the US in much higher extent. The country is not much dependent to the import of oils because of the dependence of other countries on the goods as well as services offered by the US have developed better competitive advantage globally. The article significantly notified that with the fall in oil pricing in the global market, the US and global benchmarked oil pricing has been narrowed down. Moreover, relatively cheap oil pricing in the US have encouraged various refineries to process more crude at a higher rates and with this significant reason the demand of the US crude oil has raised apart from the variation in the global oil prices (Friedman,

compare and contrast comic heros with mythology :: essays research papers

Compare and contrast comic book hero’s with mythology   Ã‚  Ã‚  Ã‚  Ã‚  Comic book heroes and mythological creatures have a lot of differences, and a lot of similarities. They can be huge differences, or small ones. Either way, they’re both different in some ways.   Ã‚  Ã‚  Ã‚  Ã‚  Some differences between comic book heroes and mythology ones are that there was a possibility that the mythological creatures actually lived. Unlike comic book ones, they’re all made up stories that seem to attract kids into reading them. One way that they do it is by making it exciting so it seems like they really lived. Another difference is that all the comic book hero’s have abnormal powers like laser eyes. However, the mythological creatures don’t have abnormal powers, but they do in some way look abnormal. For example, Argos the hundred-eyed monster, and the Minotaur. Both of these can be considered heroes in some way, but to other people, they weren’t really anything.   Ã‚  Ã‚  Ã‚  Ã‚  Other than the differences between both of them, they do have similarities too. One similarity that first pops up in my mind is that they must be good people. Cause who would consider a bad guy a hero? Other than that, another similarity between both of them are that they’re abnormal in some way. An example from a comic book is Super-Man; He has super strength that allows him to move heavy objects. Now an example from mythology, Hermes, the messenger of the gods, had such swift moving feet that he could deliver messages in minutes.   Ã‚  Ã‚  Ã‚  Ã‚  To conclude, I think that there’s a huge difference between these 2 kinds of hero’s. The comic book heroes are fictional of course because they’re hand drawn images.

Oxford Brookes Bsc(Hons) in Applied Accounting (Acca)

PART IPROJECT OBJECTIVES AND OVERALL RESEARCH APPROACH 1. 0. 0 INTRODUCTION Business and financial performance in the tourism industry Tourism is now one of the largest industries in the world. According to the WTO, the export income generated by international tourism ranks fourth after fuels, chemicals, and automotive products. Furthermore, the WTO points out that, for many developing countries, tourism is one of the main income sources of foreign exchange, and creates much-needed employment and opportunities for economic development. The industry has also enjoyed staggering growth over the past six decades. ttp://www. qfinance. com The tourism industry is also a major contributor to Zimbabwe’s economy thus I chose to assess the performance of a company in this sector to obtain a clear picture of how the performance of a major player in such a sector would contribute to the economy. In the tourism industry business and financial performance is highly dependent on the politica l factors of the host country. Political stability and good international relations are important for the growth of firms in the tourism industry as tourists only go to places where they feel safe and protected. Spending on tourism and hotels is also closely related to the economic cycle. Certainly, spending on leisure activities such as holidays tends to be one of the first things that consumers cut back in times of economic hardship. REASONS FOR CHOOSING RTG 1. 2. 1 Rainbow Tourism Group Background Rainbow Tourism Group was established in 1992, and is the second largest tourism group in Zimbabwe and a major player in Zimbabwe’s Tourism Industry. Listed on the Zimbabwe Stock exchange, the company has spread its wings into the regional markets through management contracts  and Strategic Alliances. In Zimbabwe, RTG operates  four brands namely, The Rainbow Towers, Rainbow Hotels  (three star city and resort hotels), Touch the wild (top of the range eco-tourism lodges offering unique safari experiences)  Ã‚   and Zimbabwe Tourism Services (a destination management services company that caters for travel arrangements). (www. rtg. co. zw) RTG has a good corporate governance struct ure and is the second largest tourism group in Zimbabwe the largest being Africansun RTG’s operating environment For the period 2007 to 2009 Zimbabwe’s business environment was extremely hostile, most businesses were closing down and the few lucky survivors were scaling down their operations massively. The economy was ranked the worst in the world and inflation at its peak was around 6. 5 quindecillionnovemdecillion percent (65 followed by 107 zeros) . Long term planning was impossible in the industry due to the political instability and bad publicity that the country received following violence surrounding the March 2008 presidential elections as well as cholera outbreaks affected tourist arrivals in 2008, thereby limiting any growth in the economy. The highest decrease in the number of tourist arrivals was reported from traditional source markets, such as the UK and the US. Http. //www. euromonitor. com/Zimbabwe The managed exchange rate and high inflation rate made budgeting difficult. The introduction of price controls by the government in the sector meant that RTG could not increase their prices in line with inflation as they were supposed to request for price increases first whereas their expenses were increasing therefore cutting down their profits unreasonably. The rampant shortage of basic commodities such as food and drinks increased costs as supply could not match demand it also meant that hotels and restaurants could not offer services to its customers and therefore a drop in revenues and standards of services. A high unemployment rate of about 94% and a shrinking economy also meant that the local customers had no disposable income as 98% of the population was living under the poverty datum line and had to cut back on leisure activities. The tourism sector also faced a crumbling air transport sector, with ramifications for the entire economy and the withdrawal of a number of reputable airlines, citing viability problems. Approximately 18 international airlines are reported to have left the country since the start of the economic crisis in the year 2000. Some of the airlines that pulled out of the Zimbabwe route were Zambian Airways, British Airways, Swissair, Lufthansa, KLM and Air France. High fuel prices, combined with political and economic turbulence, were the reasons cited for the withdrawals. Zimbabwe’s isolation was a major blow to the already ailing travel and tourism industry, which relies heavily on high-spending incoming tourists. (www. newzimbabwe. com) Purpose and objectives of the research The objective of this research is to find out how RTG’s business and financial performance over the three year period 2007 to 2009 contributed to Zimbabwe’s economy when it was in a massive economic recession and when foreign currency and jobs were needed most. RTG is a major player in the tourism sector which contributes a significant portion to the GDP of Zimbabwe therefore RTG’s business and financial performance was not only important to its shareholders but also to the whole economy. To achieve this objective the researcher will also establish the following: * To establish how RTG measures and assesses its performance. * To find out what strategies RTG adopted to meet its business and financial performance objectives. * To assess whether RTG’s business and financial performance was adequate to survive the economic crisis it was facing. The research aims to answer the following questions: What measures were used by RTG to assess the business and financial performance and were they adequate? * What were the strategies RTG used to achieve its business and financial objectives and were they adequate? * How did RTG perform compared to its main competitors? * How did RTG’s business and financial performance contribute to the economy of Zimbabwe? * Did RTG meet the expectations of all its stakeholders? * How can RTG improve its performance? Research approach The researcher used a case study approach employing both qualitative and quantitative techniques to evaluate the performance of RTG. This approach enabled the researcher to make a balanced assessment and to consider other stakeholder’s interests that might be difficult to measure quantitatively. To answer the above questions the researcher will use traditional techniques such asratio analysis and trend analysis to establish the patterns of performance while comparisons with other organizations in the same industry will also be done. Modern techniques such as Kaplan and Norton’s balanced scorecard will also be used in order to develop a comprehensive framework of assessing the business and financial performance of RTG. Gaps will be identified, conclusions drawn and recommendations will be made as to how RTG can improve its business and financial performance in future. PART IIINFORMATION GATHERING AND ACCOUNTING / BUSINESS TECHNIQUES Introduction Description of methods This section identifies the research methodologies which will be used for data gathering by the researcher. â€Å"research methodology refers to a whole range of questions about the assumed, appropriate ways of going about social research and is therefore a theory or an analysis of how research should operate† (hitchcock and hughes 1995:20). Data collection procedures Data collection is about using the selected methods of investigation which Robson (1997:304) believes there is no generally best methods as all methods have their weaknesses. Various methods of data collection were used in this research and the following are the primary and secondary data collection methods that were used. Primary methods * Interviews * Observation Secondary methods * books * journals and publications * internet * Published financial statements Secondary data Secondary data are statistics not gathered for the immediate study at hand but some other purpose. Churchill 2002). Secondary data was used in this research to get an in-depth understanding of the business and financial performance of RTG. Saunders (2007) gave the following advantages and disadvantages of secondary data Advantages * Saves time and money * High quality of information compared to data gathered by an individual at the point of research * Provides a general framework for c omparing data collected by the individual. Disadvantages * Accessibility of data maybe costly or difficult * The purpose why the secondary data was collected may not be relevant to the research being undertaken. There is no control over the quality of secondary data therefore accuracy maybe difficult to verify * Information gathered maybe outdated Primary data Advantage * The most important benefit of primary data is that data is original. Disadvantages * Results may not be representative of what is found in the population * The flexible nature of methods used can result in ambiguous results Research instruments Interviews An interview is a social survey conducted in a face-to-face or personal conduct situation. Heyward and Sparks (1984) define an interview as an occasion when one or two people ask questions that seek to find out opinions and ideas. Advantages of interviews Face to face * Immediate feedback * Quick feedback * Easy to tell whether respondent understood the questions, * physical gestures and personal contact adds emphasis * allows for a wide exchange of ideas * Good relations are established E-mails and Telephones * Immediate feedback * Appropriate for â€Å"always busy† interviewees * E-mails can be easily stored for other uses Disadvantages of interviews Face to face * Data is difficult to record, code and analyze * time consuming interviewee accessibility may be difficult * The interviewee maybe uncooperative E-mails and Telephones * late feedback caused by disruptions due to network congestion and technical breakdowns * High telephone charges Literature review 1. 1. 11. 1. 1 Financial performance Financial performance is a subjective measure of how well a firm can u se assets from its primary mode of business and generate revenues. It measures a firm’s overall financial health over a given period of time and/or compare with similar firms across the same industry www. investopedia. com/terms/f/financialperformance. asp 1. 1. 2 Business Performance Business performance can be defined as â€Å"the integration of financial and non-financial systems and processes to achieve organization goals and objectives† http://en. wikipedia. org/wiki/business_performance_management Business performance is about creating value for the stakeholders of a business. Measuring business performance is therefore very subjective and finding suitable measures is very difficult. An organization’s business and financial performance cannot be measured in isolation it has to be compared with prior periods or other organizations in the same economic sector taking into consideration the company’s business environment. Business performance is guided by an organization’s vision and mission these outline the aims to be achieved and the desired end results. Research Approach The researcher will use a variety of business and financial performance measures. Firstly the researcher will consider traditional financial performance measures such as return on capital employed, liquidity gearing indicators, earning per share and trend analysis which shows the value added to the shareholder’s investments. The traditional argument is that shareholders are the legal owners of a company and so their interests should thus be to maximize shareholder wealth. Shareholders are generally concerned with the following: * Current earnings * Future earnings * Dividend policy * Relative The objective of wealth maximization is usually expanded into three primary objectives which are survival growth and to make profit Kaplan 2007:184) Traditional financial performance measures will be used to measure how RTG has been able to satisfy its shareholders. Weaknesses of ratio analysis As illustrated by Owen G (1994:386) the following are the main weaknesses of using ratio analysis * It uses historical information which maybe out of date * Can mislead when making comparisons if accounting policies are different * Can be distorted by one-off transactions * Takes no account of cyclical changes throughout a period * One dimensional To fully assess the business and financial performance of RTG the researcher will also use non-financial performance measures through the use of the balanced scorecard and other performance measures. The Balanced scorecard The balanced scorecard was developed by Kaplan and Norton as cited in Kaplan ACCA P5 (2009) defines it as a tool to translate an organization’s vision and strategy into objectives and measures. It looks at four perspectives namely financial perspective, customer perspective internal business perspective and learning and growth perspective. The aim of the balanced scorecard is to enable the business to develop a comprehensive framework for translating a company’s strategic objectives into a coherent set of goals and performance measures. Kaplan ACCA P5 (2009) Limitations of the balanced scorecard Neely (2002) argues that the most difficult problem of Balanced Score Card (BSC) is that it lacks several important interest groups in its structure: such as suppliers, co-operation partners and close neighbors. The International Institute of Management (2002) states the following implementation pitfalls and limitations of the Balanced Score Card: * Cut the jacket to fit the person do not cut the person to fit. * The balanced scorecard should not be balanced, success factors are not equal and their relationships are not linear. Trying to balance the scorecard will lead to confusion, conflict and lack of focus. * Insufficient cause and effect relationships and performance drivers. * Conflict of interest (different stakeholders want different things) * Measuring intangible assets (information and human capital) is difficult. Other measures of performance The researcher will also use other Critical success factors and Key performance indicators such as revenue per and room occupancy rates, among others to fully analyze the performance of RTG Ethical issues The researcher took into consideration ethical issues such as confidentiality and objectivity in carrying out the research and analysis. The researcher assured RTG that he was going to use the information he collected strictly for academic purposes. The researcher also assured all the individuals he interacted with that he was going to be objective in analyzing the information they provided. All the information the researcher obtained was kept secure at all times to preserve anonymity and confidentiality. . PART 3  Ã¢â‚¬â€œ Results, analysis, conclusions and recommendations This section is dedicated to the presentation of the data collected, its interpretation, drawing of conclusions and making recommendations. The researcher will start by presenting and analyzing his findings on the financial performance of RTG for the period 2007 to 2009 using ratio and trend analysis. In latter sections the researcher will present his findings and analyze RTG’s performance using non-financial performance indicators to assess its business performance. 3. 1 Traditional Financial Ratios of RTG 3. 1. 1 Profitability ratios of RTG Analysis of profitability was made very difficult by the hyperinflationary environment that was in Zimbabwe between 2007 and 2008. On 14 February 2008, the Central Statistical Office announced that the inflation rate for December 2007 was 66,212. 3%. On 20 February 2008, the Central Statistical Office said that officially, inflation had in January 2008 gone past the 100,000% mark to 100,580. 2%. On 4 April 2008, the Financial Gazette (FinGaz) reported that officially, inflation in February 2008 jumped to 164,900. 3%. On 15 May 2008, the Zimbabwe Independent reported that officially, inflation in March 2008 jumped to 355,000%. On 21 May 2008, SW Radio Africa reported that, according to an independent financial assessment inflation in May 2008 jumped to 1,063,572. 6%. The state statistical service in April 2008 said there were not enough goods in the shortage-stricken shops to calculate any new (official) figures. On 26 June 2008, the Zimbabwe Independent reported that, latest figures from the Central Statistical Offices (CSO) showed that annual inflation rose by 7,336,000 percentage points to 9,030,000% by June 20 and was set to end the month at well above 10,500,000%. According to Central Statistical Office statistics, annual inflation rate rose to 231 million percent in July 2008. The month-on-month rate rose to 2,600. 2%. By December 2008, inflation was estimated at 6. 5 quindecillionnovemdecillion percent (65 followed by 107 zeros) The Zimbabwe Central statistical office stopped publishing inflation figures and therefore the Zimbabwe Consumer Price Index was not available to adjust the 2008 financial statement figures. The historical figures used were out of date and comparison of costs and revenues gave a false picture and thus care should be taken in interpreting them. The researcher therefore could not analyze trends in revenue and cost as they had been heavily distorted by inflation and no adjustments could be made as the Central Statistical Office stopped publishing the inflation figures and the Consumer Price Index. Gross Profit Margin The gross profit margins of RTG in 2007, 2008 and 2009 were 74%, 99% and 84% respectively. The gross profit margin shows the gross profit generated per every dollar of sales. In 2009 Africansun limited’s gross profit margin was 65% therefore showing that although RTG’s gross profit margin had decreased from the prior year it was still better than its competitor. In the researcher’s interview with Mr L Chasakara RTG’s operations director, he said thatâ€Å"RTG managed to increase its gross profit margin from 74% in 2007 to 99% in 2008 by specifically targeting the domestic market†. Sales from the domestic market were increased from 78% in 2007 to 83% in 2008 as the foreign market was deteriorating due to the political instability in Zimbabwe in this period. The researcher however also noted that the increase in gross profit margin from 74% in 2007 to 99% in 2008 could have been due to the fact that the use of historical cost in 2008 overstated revenues due to high inflation figures and understated costs as most costs had been incurred earlier in the year. Revenue will generally be overstated in hyperinflationary environments if historical costs are used as costs are normally incurred before revenues are realized. Net Profit Margin The net profit margins of RTG in 2007 was (0. 62%), it rose dramatically in 2008 to 879% then decreased again sharply to 0. 13% respectively. In 2008 the net profit margin was heavily distorted by the RTG’S investment income which it gained from trading on the Zimbabwean Stork exchange which was booming at this time. In 2009 the use of the United States dollar as the official currency in Zimbabwe (Dollarization) saw inflation dropping to below zero percent. This resulted in more realistic profitability ratios with the gross profit margin dropping to 84% from 99% in 2008 and the operating net profit margin dropping to 0. 913% in 2009 from 879% in 2008. Removing investment income from the net profit before interest and tax in the 2008 statement of financial position gives us a net profit margin of 17% which is more indicative of RTG’s performance in 2008. The researcher asked Mr L. Chasakara, RTG’s operations director if the large profits that RTG had reported in 2008 were a true indication of its performance. Mr L. Chasakara responded saying â€Å"these were unusual results in unusual circumstances we did what we had to do in order to survive and excel in one of the most hostile economic situations in history† The trend in the gross profit margin and the operating and the net profit margins of RTG from 2007 to 2009 is presented in the table below: Source; Kembo H (2011) The table below shows the trend in net profit margin after subtracting investment income from RTG’s 2008 net profit before interest and tax: Source: Kembo H (2011) Return on Capital Employed (ROCE) ROCE is an indicator of the management’s efficiency in generating profit from resources. In 2007 RTG’s ROCE was 2%, it then rose sharply to93. 5% in line with the high profits that were earned in 2008 and then came down to 29. % in 2009. In 2009 Africansun Limited which is RTG’s main competitor had a negative ROCE of 18. 75%. Therefore even though RTG’s ROCE dropped from 93. 5% in 2008 to 29. 1% in 2009 it still was better compared to its rival in the Zimbabwean tourism industry. RTG’s ROCE was also higher than the average borrowing rate in 2009 of 15% which means that RTG added value to its investor’s funds as it managed ROCE above the minimum borrowing rate to compensate for the extra risk they took upon investing in RTG. Asset turnover The asset turnover ratio shows the revenue generated per dollar of assets that is the efficiency of assets in generating revenue. RTG’s asset turnover ratio for 2007 was 0. 20 times per annum then decreased to, 0. 094 times then rose to 0. 92 times per annum The Asset turnover trend between 2007 and 2009 is shown in the table below: Source Kembo H (2011) In 2007 and 2008 investment income contributed to the bulk of the net profit therefore RTG’s asset turnover ratios were very poor at 0. 20 times per annum and 0. 94 times per annumrespectively. This suggests that the group was using its funds for other investments rather than its operating activities as the operating environment was extremely hostile. In the researcher’s interview with the Operations Director of RTG, heexpressed that this move was necessary for survival as the mismatch of revenues and costs due to hyperinflation meant normal operations of the RTG would result in heavy losses. Asset turnover of RG T improved dramatically in 2009 rising to 0. 2 times per annum meaning that the group was using its assets effectively to produce revenue. Although RTG’s asset turnover ratio improved in 2009 it fades in comparison with its main competitor Africansun Limited which had an asset turnover ratio of 1. 32 times a year. This means that RTG was less efficient in generating revenue from its capital than its competitor. Working Capital Ratios Current ratio The current ratio measures the adequacy of current assets to meet liabilities as they fall due. (Financial Reporting F7 Kaplan 2009) In 2007 RTG’s current ratio was 0. 7:1 which meant that RTG’s could not service its liabilities in the event that they fall due. In an interview with the researcher the Accountant of RTG Mr G Nzunga said hyperinflation made it difficult to keep too much cash it would quickly be eroded, thus they had to channel their resources into the acquisition of tangible assets and keep current assets at a minimum. In2008there was further decrease of the current ratio to 0. 32:1 as inflation continued to rise and most people discouraged to keep cash or cash equivalents. In 2009 the current ratio of RTG was 0. 76:1, an improvement from the 2008 current ratio but still not satisfactory. In 2009 the use of the United States dollar as the official currency in Zimbabwe (Dollarization) saw inflation dropping to below zero percent thus the improvement as the economic environmentbecame began to normalize. Mr G Nzunga, RTG’s Accountant said that RTG was still in a difficult position as far as working capital management was concerned as a liquidity crisis began across industry soon after dollarization in Zimbabwe in 2009. The company was not generating enough money from its day to day activities to pay mostly suppliers and other current liabilities as they fell due. In 2009 Africansun Limited which is the biggest tourism group in Zimbabwe’s current ratio was 0. 49:1. The liquidity crisis in Zimbabwe made it very hard for companies in Zimbabwe to maintain decent current ratios and most of them had to employ aggressive working capital management. With a current ratio of 0. 76:1 RTG is considered to have performed quite well given the surrounding circumstances. Inventory Turnover Period Due to lack of information the researcher was unable to calculate RTG’s inventory turnover ratios, receivables periods and payables periods for the years 2007-2008 and could only calculate the inventory turnover ratio, receivables and payables periods for the year 2009. RTG’s inventory turnover ratio for the year 2009 was 143 days which was very bad considering the fact the larger percentage of RTG’s inventory is food that they sell to guests. Normally in the food industry inventory turnover should be fairly quick so as to preserve the reputation of the company and quality of the meals served. Africansun’s inventory turnover in the same period was 70 days which was better than that of RTG in this period. The accountant of RTG commented in this high ratio saying that they purchased large amounts storks to avoid the effects of stork outs in the event of food shortages which were common in Zimbabwe in 2008. In 2008 the retail and Food industries were almost facing ruin as shelves in shops went empty due to the economic and political challenges Zimbabwe was facing, therefore it was generally reasonable for RTG to keep relatively large amounts of stork. Payables Period RTG’s payables period was 726 days in 2009 which represents the credit period it was taking from its suppliers. RTG had such a bad payables period mainly due to liquidity problems that the majority of companies was having in industry and partly as an aggressive working capital management strategy. This however resulted in RTG gaining a very bad credit reputation from its suppliers. One of their major security suppliers Chubb Locks’ Manager was once quoted saying â€Å"RTG is the worst paying customer in the country†. Some suppliers have stopped supplying RTG as a result of RTG’s bad credit record but because they are a large firm RTG still gets new suppliers. Some suppliers now demand cash for all purchases made by RTG. RTG has also been forced to purchase their supplies from more expensive suppliers or poor quality supplies. RTG is also losing out on discounts they could gain by paying promptly. In an interview with the researcher Mr G Nzunga the accountant for RTG said that the company did not have enough liquid funds to pay all their suppliers. He also stated that it was also part of an aggressive working capital management strategy as they were receiving free financing from creditors. He however admitted that the strategy was getting over-aggressive and it was ethically questionable to pursue this strategy any further. In the same period African sun’s payables period was 12 days which was better than RTG’s period and hence its good reputation with suppliers across the industry. Receivables Period The receivables period for RTG in 2009 was 94 days. This was in line with their credit policy which states that the credit period allowable to customers should be three months. The receivables period for African sun was 59 days in 2009 which was better than RTG’s period this obviously shows that African sun Limited faces less risk from irrecoverable debts. Gearing The gearing ratio indicates the degree of financial risk the company is facing and the sensitivity of earnings and dividends to changes in profitability and activity levels. Kaplan ACCA F7(2009)) In the years 2007 and 2008 RTG did not have any long term borrowing thus the gearing ratio was zero. This meant that risk for financial risk for RTG was very low. Hyperinflation in Zimbabwe made long term loans difficult to get as any lender would find it very difficult to set interest rates as inflation was highly unpredictable in this period. The value of any money borrowed could be eroded within days if not hours therefore no companies had meaningful long term liabilities. In 2009 after the introduction of the US Dollar as the official currency in Zimbabwe companies started gearing up although the liquidity crisis that followed made it difficult to get funding from local financial institutions. In 2009 the gearing ratio for RTG was 2%. RTG’s gearing ratio was very low and induced very little credit risk to the shareholders. A low gearing ratio means that RTG has the scope to borrow more if there are any profitable ventures in the future and for their current refurbishment and expansion project at their A’Zambezi River Lodge unit and increasing the group’s room capacity. Financing will also be cheap for RTG as lenders will face very low levels of risk in extending loans to them. In 2009 Africansun Limited’s gearing ratio was also very low at 3. 5% which means it also had low levels of financial risk. The low gearing across industry also reflected the liquidity crisis which was eminent in Zimbabwe in 2009 where lenders did not have the funds to extend loans to firms and they were also still skeptical about the economic and political situation in Zimbabwe. Interest Cover Interest cover is the ability of a firm to pay interest out of its profits. In 2009 RTG Interest coverwas1. 52 timesand indicated that the shareholder’s dividends were at risk. However the ability of RTG to pay its interests having emerged from difficult economic times should satisfy its shareholders as Africansun Limited its major competitor failed to make profits to pay for their finance costs. Earnings Per Share The earnings per share of RTG for 2008was384 billion Zimbabwean dollars per share and the earnings per share for 2007 was 253. 7 Zimbabwean dollars per share. Converting these figures to United States dollars at the unofficial exchange rates that were ruling at the 2007 and 2008 year ends would make the respective earnings per share figures less than 0. 000001 US cents. Due to the hyperinflation in these periods the researcher found analyzing these figures very difficultand almost impossible. The earnings per share for RTG in 2009 was USD0. 01 which was quiet impressive compared to its rivals in the tourism industry as most of them. In 2009 the earnings per share for African sun Limited was negative USD0. 8. Customer Perspective Occupancy rates One of the main indicators of performance in the tourism industry is the occupancy rate of hotels. RTG managed an occupancy rate of 44% in 2007 which was below the Zimbabwean tourism industry average occupancy rate of 45%. In the tourism industry the more customers are satisfied by your service the higher your occupancy rate will be. In 2008 the occupancy rate of RTG decreased by 9% to 37%. The decr ease in occupancy rate was due to the economic and political instability during the 2008 Zimbabwean Elections were here was widespread violence in the country, therefore the number of tourists decreased. Most airlines also pulled out of the country ma The industry average room occupancy rate in Zimbabwe’s tourism industry was 41% which was higher than that of RTG which was 37%. This shows that RTG performed badly compared to peers in the tourism industry. The fall in RTG’s occupancy rate can therefore be attributed to failure to satisfy customers better than its rivals. In 2009 RTG’s occupancy rate increased to 40% which was an increase of 3% from the 2008 occupancy rate. The increase could be attributed to the improvement in the political and economic environment in Zimbabwe after the formation of a Government of National Unity (GNU) and the dollarization of the economy. The industry average occupancy rate for 2009 was 31% which was 9% below that of RTG. In an interview with the researcher Mr L Chasakara the operations director for RTG attributed the higher occupancy rate to better brand management, better marketing strategies and service excellence. RTG’s higher occupancy rate means that it was more able to satisfy its customers better than its competitors. RTG’s main competitor and the largest hotel group in Zimbabwe African sun Limited’s occupancy rate in 2009 was 32% showing that RTG performed exceptionally well in 2009 in managing to attract customers The table below shows RTG’s occupancy rate compared to the tourism industry average: Source Kembo, H(2011) . In an interview Mr G Nzunga RTG’s accountant said that the occupancy rates also improved because 65% of their sales come from repeat business from satisfied guests and large groups of organizations who hold seminars at RTG’s hotels. Service lead time In 2009 RTG managed to reduce its service lead time in its hotels to an average of 20 minutes between the time food in restaurants and rooms is ordered to the time it is served. In 2007 and 2008 the average service lead time was 30 minutes. Better training and process improvement helped in achieving the reduction in service lead time as said by the Mr L Chasakara the operations director for RTG, he also added that benchmarking against the best restaurants also helped in achieving the improvement. In 2007 RTG was not recording complaints in late service delivery to customers but in 2008 RTG recorded 2700 complaints and the figure improved to 1100 in 2009 which was a 59% improvement. This improvement shows that RTG improved in satisfying its customers in 2009. Service Quality RTG keeps books at all its hotels were customers are asked to write a comment on the services they would have received before they leave. A review of these books at two of RTG’s units Victoria Falls Rainbow Hotel and A’Zambezi showed the results presented in the table below: Comment| 2007| 2008| 2009| Favorable| 98%| 96%| 99%| Unfavorable| 2%| 4%| 0. 9%| Will Return| 68%| 80%| 70%| Will not Return| 0%| 0%| 0%| The results from the review of the comment books showed that the majority of guests were satisfied by the service they received on staying at RTG units which means that RTG performed very well in this regard. Internal perspective Room service complaints were 3500 in 2007 and increased to 4550 in 2008. This was mainly due to the shortage of basic commodities in Zimbabwe in 2008. Shortage of commodities meant that the hotel could not provide its customers with some luxury items they were used to having every time they visited and hence the increase in complaints. The Accountant at RTG Mr G Nzunga explained that they made sure that their staff would explain the situation very carefully to the customers and extensive training of staff ensured that they were able to utilize the few commodities that were available. In 2009 complaints decreased to 2900. This could partly explained by the end of the commodity crisis in Zimbabwe. This also shows that RTG managed to improve its internal processes to reduce the number of complaints they were receiving from customers yearly. Learning and innovation RTG has invested heavily in the training of its staff in order to give better service to its customers. RTG has opened a Hotel School for the training of its workers and other external students. The commitment of RTG to continuously improve its operating processes and learn new ways of doing things has seen them being able to keep costs low and increase room capacity to make when its competitors are making losses and their occupancies are dropping. In an interview with the researcher Mr G Nzunga RTG’s Accountant said that every worker at RTG attends at least 1 seminar every month in order to keep them abreast of changes and new ways of doing things. Interview review Question1 In the first question the researcher asked the operations director and the accountant of RTG what their financial and business objectives were. The responses can be summarized as follows: * To be profitable and to create value for our shareholders. * To survive and grow in the long run thus protecting the interests of all our stakeholders. In 2008 the main objective was to survive in the harsh economic climate in order to save the tourism industry and the Zimbabwean economy itself * To achieve service excellence in tourism and hospitality. Question 2 In question 2 the researcher asked the accountant of RTG how they measure their business and financial performance. In response he said RTG assesses its performance through traditional financial perform ance measures such as ratio analysis and trend analysis and other modern measures especially the balanced scorecard as they are equally concerned about the qualitative aspects of performance. Question 3 In the third question the researcher asked the accountant and the operations director of RTG if they could explain the trend in the ratios that had been calculated from 2007 to 2009 financial statements. They gave various explanations for all the fluctuations in these ratios some of them have been quoted in the analysis of these ratios in the section above. The most common response to the financial ratios was that they were unusual results in an unusual environment referring to the hyper inflationary environment that was in Zimbabwe during this period. Question 4 Question 4 was to establish which strategies RTG used to ensure that they met their business and financial objectives. In response the accountant and operations director outlined the following as some of the strategies they implemented: * Employing an aggressive working capital strategy to mitigate the liquidity and operational challenges they were facing * Investing in money markets rather than core operating activities to improve the cash and revenue inflow. Focusing on the local markets rather than the traditional international markets that had been negatively impacted by bad publicity and political instability. * Process and service improvement through employee training. * Intensive marketing both nationally and internationally * Strict stock management to curb the shortages of basic commodities that were prevailing as a result of price controls by the government. Questions 5, 6 and 7 These questions were to establish how RTG business and financial performance contribu ted to the economy and how it can improve its performance in future. In response the interviewees stated that in making profits and surviving through the historic hyperinflationary environment in the period under review RTG saved the tourism industry in Zimbabwe as its downfall would have surely resulted in the collapse of the tourism and hospitality industry. They also stated that they managed to save thousands of jobs and provided business for hundreds of their suppliers. They also stated that to improve performance RTG would spend more on capital through hotel refurbishments and also taking advantage of their low gearing by taking loans thus improving working capital. They also stressed the need to advertise and restore the image of Zimbabwe as a tourist destination. Conclusion The researcher found out that RTG uses both financial and non-financial performance measures through the balanced score card which gives a comprehensive framework for performance measurement. This ensures that both quantitative and qualitative performance objectives are assessed. RTG used various strategies to ensure that it met its financial and business objectives which were mainly to survive the harsh economic environment and to protect its investors employees and all its stakeholders. RTG used strategies such as aggressive working capital management, investing in the money markets instead of its core operational activities and shifting their attention on the local market rather than the traditional international market. RTG also innovated through constantly innovating and improving its processes to achieve its business and financial objectives. Limitations of results The major limitation of these results is the unavailability of inflation adjusted figures for the proper analysis of financial ratios and trend analysis which might have given a false picture. The researcher held interviews with only 2 members of the executive management team which might have given a narrow picture of RTG’s performance. Interviewing all members of the management and the board would have given the researcher a broader understanding of the business and financial performance of RTG, but time and the availability of most of these people was a challenge. The researcher could not visit all RTG companies due to limitation of resources as they are geographically dispersed. This might have limited the researcher especially when he looked at the qualitative aspects of RTG’s performance. Recommendations The researcher recommends that RTG should employ less aggressive working strategies. RTG’s current working capital strategy may see suppliers refusing to supply them with critical supplies. RTG might also face legal action from its suppliers which may increase its legal costs and even loose customers who may not want to be associated with firms who have bad credit reputation. RTG should thus reduce its payables period to a more reasonable period of perhaps 90 days. The researcher also recommends that RTG should increase its gearing levels as they are currently very low in order to take advantage of loans which provide cheaper financing than equity. Zimbabwe’s reputation as a safe tourism destination was severely damaged due to the political and economic instability in 2007 and 2008. The researcher thus recommends that RTG should form partnerships with other players in the tourism industry to market the Zimbabwean brand in the international tourism market.

American History Eoc Study Guide - 5327 Words

American History EOC Study Guide 1) Reconstruction: A plan to reconstruct the society after the Civil War. This divided the south (except Tennessee) into 5 military districts under the control of the U.S. Army. It was the attempt to reconstruct the south, readmit the southern states back into the Union, and change the life of African Americans. (pg. 414) 2) Freedman’s Bureau: Congress created this in March of 1865 in order to provide help for thousands of poor black and white southerners uprooted by the fighting. They were educated in Freedman Schools, housed, and fed. â€Å"Plenty to eat, nothing to do† (pg. 404) 3) Transcontinental Railroad: One of the first railroads built that would cross the whole country. It also helped†¦show more content†¦24) Alexander G. Bell: This man invented the telephone. He beat another person with the same idea to the patent office by only a few hours. 25) Thomas Edison: He invented the electric light bulb. He created a lighting system near Wall Street powered by his own generator. 26) Cattle Drive Barb Wire: The demand for beef after the Civil War sparked the cattle boom. Ranchers would hire cowboys to drive longhorns in trails to cities where they could by shipped to meat packaging plants. Open range drives were ended with the invention of barbwire by Joseph Glidden which enclosed cattle in a field. Most of the cattle died in severe blizzards which brought an end to it. 27) Indian Wars: The Indian Wars were the battles and conflicts between Great Plains Indians and settlers. The Battle of Little Bighorn was the only battle the Indians won. They eventually stopped resisting and were moved to reservations. 28) Dawes Act: This law gave each Indian head of house property to farm eliminating most of the reservations. Indian children were taken east and Americanized. 29) Fredrick J Turner: He developed the â€Å"Frontier Thesis† was the settlement of the west. 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