Albert Court Motor Lodge

Albert Court Motor Lodge Abstract This report looks into the concepts that should be applied in the management of Albert Court Motor Lodge. This follows the evaluation that was conducted on the performance of the motel. The report gives some recommendations that can be done to make sure that the management and the performance of the motel meet international standards. Some of the concepts recommended are concerned with the location, marketing and the specialization in the services offered.Advertising We will write a custom report sample on Albert Court Motor Lodge specifically for you for only $16.05 $11/page Learn More Introduction In this paper, I will look into a hotel which is within the vicinity in town. I will research into the hotels location, operation, management, marketing and specifications. To achieve this there are concepts that are concerned with the management of a hotel such as human resource management, empowerment of the workers and international management of the hotels (Powers, 1995, p. 174). The other concepts to watch are the yields that the hotel gains from the combination of all other concepts. For my project I will look into a motel situated in Hamilton.  The name of the motel is Albert Court Motor Lodge. The motel is owned and operated by Kathryn David Gillingham. In addition, the motel was started in February 2010 meaning that the motel is only one year old. In order to manage the needs of individuals, couples and families who are different they have introduced lodge regulation to take sports team to engage families. Background information The motel is as mentioned above; it is called Albert Court Motor Lodge. It is located in Hamilton city, New Zealand. The location of this business is attractive for residency either for people staying for short period or long term. Some of the scenes are short walking distances to the river and there is a beautiful park next to it. It is located in Hamilton East suburb where there are Hamilton e ast shops. The area is very quiet and adequate for relaxation. In addition, it is very close to the Hamilton CBD. So, it is convenient location for people looking to spend weekends or holidays in Hamilton.  On the view of the marketing strategies it shall be concerned with the target that the motel has in the market. The motel targets travelers who require quality accommodation during the week, and particularly key local national businesses. For instance, Waikato University couples who require executive accommodation to stay for weekends or public holidays will consider staying in the motel.  In addition, the lodge has a Website which provides key information and attitude environment to suit primary target. Furthermore, it has a Channel manager enabling bookings to be made via a number of key websites e.g. Wotif, AA and Jasons.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Advertising in key accommodation publication via AA accommodation Guide, and Jasons Motel Guide is one of their attraction techniques.  To capture the market there is the need to establish the areas the motel is specifically interested in. It is indicted that other than being a lodge, customers can also enjoy the motels luxurious facilities. The motel has apartments that are of style liable to offer comfort and relaxation to its customers. There are a number of selections that a customer can choose from; there are spacious rooms that vary according to the number of rooms that are needed by the customers. Customers can be able to choose from a 1 bedroom to a 2 bedroom units depending on the customers’ preference. What I observed is that the motel has close to 18 units that are kitchenette and are furnished with two hotplates, microwaves, toaster, pots and pans. In addition, the units are technology compliant since they are fitted with internet access ports that will be of h elp to customers who are after business information. They are fitted with wireless network and broadband that is accessible everywhere in the motel. Other facilities offered to keep costumers entertained; they are able to watch sky channels in Wall-mounted 32 LCD TVs and Stereo system with iPod docking. To add convenience to the facilities, they are fitted with air conditioning systems. This will make the rooms more convenient to hold meetings and it will also reduce cases of rooms heating up too much during a hot season. The bathrooms are fitted with efficient facilities that ensure that the customers feel and enjoy the servicers. The bathrooms are large nonslip tile ensuite bathrooms with impressive shower, make-up lights and hairdryer are also provided; and some units have spa bath and/or private courtyard. In addition, some of the executive rooms are fitted with either super-size, super queen-size or supper single beds which are of high quality. Methodology To carry out the rese arch I intend to use observation method. In this case, I will have to go personally to the motel and conduct a physical evaluation. However, there is some information that I will not be able to get from observations only meaning, that I will have to carry out interviews with the management of the motel. There will be a need to interview some of the workers and some customers to comment on the management of the motel and the services offered respectively. After collecting all the information needed, I will need to compile the information and come up with a comprehensive report about the management of the motel.Advertising We will write a custom report sample on Albert Court Motor Lodge specifically for you for only $16.05 $11/page Learn More Challenges Some of the challenges that I look forward to encounter are being denied access to the facility and carrying out my research on it. In addition, there is a challenge on obtaining information from customers or the workers at the motel. Also, getting some of the information that may be classified with the organization might be an uphill task since the management might be reluctant in releasing it to me. To overcome some of the challenges it will be important that I obtain necessary authorization from the management. Another thing that can be done to make the process smooth is by making sure that I assure the management that all information that I will obtain from the motel will be used only for my thesis and will be treated with high confidence. In addition, I will make sure that I have created a rapport with the workers before I embark on interviewing them in order to get genuine information to keep me running and find appropriate results. The report will help relate the theoretical aspects learnt in class. After the project, I will be in a position to offer adequate advice to the management in places that I will discover that they are going short of information. The project will also hel p me upgrade the necessary facilities that are of help to me and the management. Project Report From the research that was conducted on a motel by the name of Albert Court Motor Lodge, it was observed that there are places in the management of the motel that require changes so as to attain the desired changes in the management of the facility. The results also indicate that with adequate concepts put in place, it is possible to maximize utilization of the motel according to its position and how it is being managed. The concept applied in the management mostly refers to the size of the market as well as the size of the motel. It is also related to the position of the motel and also according to the marketing strategies that have been put in place. The results also indicated that there is a need to watch the performance of the workforce that should be done under the watch of the human resource management. I will put across recommendations that needs be applied to the human resource ma nagement team to come up with the needed strategies in management. Marketing It is evident that hotels are involved with services; the services rendered to their customers are intangible. The other characteristics of the services rendered to the customers are that they are perishable, variable and are inseparable (Booms Bitner, 1981, p. 47). Developments observed in the world are in most cases shifting towards services industry. This makes motels and hotels a viable investment in the world to day (Booms Bitner, 1981, p. 47). The shift in the needs of the economy is as a result of there being a lot of disposable income among the society which has brought about the fact that there are more needs for leisure and recreation services (Booms Bitner, 1981, p. 47). The changes indicated are also applicable in China where the economy is registering an increase in time needed to relax and the best place to do so is at the hotels or motels (Booms Bitner, 1981, p. 47).Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Despite the fact that there is an increasing need for services, there is also a need to understand the types of products that our motel is dealing with. To attain the intended market size and the needed influence of the market, there is a need to consider aspects of market mix. There is a need to consider; the products, price, promotion and the place (Brien Jeannie, 1993, p. 130). Albert Court Motor Lodge should focus on the product it offers to the customers. Meaning, it should be sure that the services are what is needed by the customers. However, the evaluation of the products that are the services; it is hard to determine the complexity of the products. For a service industry, it will add other three Ps to make them to 7Ps of market management (Jagels Coltman, 2004, p. 232). The concepts to be considered are the participants, physical evidence and the process. Therefore, our company should be very careful to look into the approach that it takes to look at the marketing strateg ies. The strategies in most cases are guided by the basic needs of human wants, needs and demand. The needs are concerned about the basic needs of human beings that are shelter, food and clothing (Jagels Coltman, 2004, p. 232). To consider the needs, the company should also consider the cultural diversity of the target market. Wants are things that the market analyst will have decided as the needs for the community while on the other hand; demand is the buying power of the market. The buying power of the market will help us in pricing of our commodities and goods. It is very important that the motel have to understand what the customers are willing to spend in order to get the services being provided (Jagels Coltman, 2004, p. 232). The motel management should appreciate the fact the need to purchase hotel services is contributed by the need or the urge that is as a result of a television commercial (Jagels Coltman, 2004, p. 232). This translates to the fact that Albert Court Moto r Lodge should invest into marketing promotion and exhibitions that will help in advertising their commodities.  It is also important that the motel management gets to know how their customers do select their products (Lawson, 1995, p. 27). It is also important to know why a customer will not choose a bed suit from another motel and select their products. It should be understood that the perception a guest may have on a motel may change suddenly after the experience or by word of mouth from another customer (Lawson, 1995, p. 27). This will mean that the management should not compromise on the quality of services they offer to at all times. It is important that the management will consider adding more facilities and fittings to the rooms to make them more competitive in the market. It is also important that Albert Court Motor Lodge carries out an interactive discussion with the customers to ascertain their needs as they come into the motel. Such interactions will help the managemen t respond to them as they are wants, this makes sure that the motel is always leading in terms of quality services. This is true since most of the customers come from a different background making them the best source of information that is vital to the maintenance of the services integrity (Lewis, 1984, p. 26). In order to best understand the needs of the customers, market segmentation will be advised.  Market segmentation will target the specific needs of the customers in different markets. Albert Court Motor Lodge management should be able to discover all the needs of different customers (Biehal, 1983, p. 83). Since we are involved with housing and motel services we should segment our floors to have different prices and different services in the rooms. The services could range from either colour used in the rooms being different or different services could be fitted in different rooms. Such a diverse nature of rooms should be secured in a manner that will be beneficial to a vas t group of customers that have different tastes and purchasing power (Biehal, 1983, p. 83). In this we shall be able to widen our customer base and at the same time perfect our performance. When segmenting the market, we should be specific on the criteria we use to select the market. Our motel can target only the locals, foreigners or both. This will be concerned about the location of the motel. Targeting only the foreigners will not work for our motel since Hamilton is not a tourist hub. The steps involved in market segmentation takes into consideration the consumption power of the target market (Wearne Marrison, 1996, p. 235). However, the process does not take into consideration the differences in each segment; this will obscure the management from comprehending the best practises of the market. The appropriate methods to market segmentation should be performed via demographic segmentation in terms of age, life stages, income and gender. It is important to get the statistics of the group of customers that does migrate into the area and the special needs they have that we can serve (Wearne Marrison, 1996, p. 235).  Another concept to be considered under marketing is differentiation of the products; differentiation means that one needs to make his products different from those offered by the competitors (Wearne Marrison, 1996, p. 235). In this regard, we perceive that the demand will be created by the customers. When attending to the differences, it is important that the differences not be attended to the same way. Since the products offered by the hotels are not tangible, the differences will not be in the products directly but they will be in the form of processing the products. It is believed that the differences in the products will create awareness in the mind of the customers (Wearne Marrison, 1996, p. 235). Our motel, being situated in a busy town will be focused on the facilities that are vital to adding the quality to life and the management is very vital to these services. Product differentiation can be achieved with the help of creating a website where the comments of the customers can be posted and responded to according to the needs of the customers. According to Wearne and Marrison indicated that the method is the cheapest (1996, p. 236). The method attracts customers and determines if the customers are long term or only for a short time.  Under marketing it is important that our motel creates an emotional attachment with the customers (Barsky Nash, 2002, p. 40). This is as a result of the fact that customers that are attached emotionally to the hotel are likely to come back again. From the influence of the emotions, it is possible to cause an attachment that will affect the changes in the administration of the hotel (Barsky Nash, 2002, p. 40).  The other field to check under marketing is the relationship between the customers and the management (Lewis, 1984, p. 29). The management should be concerned about cre ating a good customer care since they are the first contact between potential customers and the motel. In addition, room service personnel should be courteous and honest such that they cannot interfere with the customer’s personal effects. The mandate should be left in the hands of the supervisors to ensure that staffs working under their lines are competent and reliable at all times. Despite the fact they are the initial contacts with the company, they are also the images that shows the effective management of a company. When the staffs are not well behaved they will always fail the management. This further indicates that the management of the company has created a communications channel with their employees (Lewis, 1984, p. 30). Location Since we do not wish to change the location of our company, the company will have to make sure that the location of the market is taken care of by the management. When looking at the feasibility of putting up a hotel or motel, the location is very vital and it should be ensured that the management conducts a feasibility study on the location of the facility. It research shows that the location of the motel will dictate the rates of the rooms (Plog, 2001, p. 18). When the rooms are located close to business meeting venues, it will be helpful in the determination of the rates to put across. For our motel, we can consider setting up the rooms at a place that is much far from town; here we shall include meeting points and other facilities that are vital in consideration of the market (Pearce, 1995, p. 217). Such conference halls will attract business meetings that will further consider using our other facilities such as rooms and food. The other change that may be made to the location of the hotel is changing the appearance of the hotel. The strategic positioning of the hotel can change over time and it will depend on the future plans that are meant to help the performance of the hotel (Pearce, 1995, p. 220). It is true t hat the position of the hotel can determine its survival but still, the conception created by the customers’ matters greatly. Albert Court Motor Lodge management should focus on creating a positive conception with the guests. I recommend that the management be very critical in ensuring that guests’ needs and wants are met; this will be achieved by having a comprehensive relationship with the customers and ensuring that their complains are taken care of. If the hotel is placed at a place that is continuously experiencing shifts in the number guests, the management have to consider either selling the premises to a different investor, this will help in attaining an appropriate price refund, but this should not be an attempt to reshuffle the investment (Pearce, 1995, p. 220). Another aspect under location is the development of the hotel at the same place without moving it to a different place; it should be considered to achieve the intended customers’ confidence. Th e motel management can be able to target a different hotel in the market where the parent motel, Albert Court Motor Lodge will mortgage the land or an existing facility. They can hire and improve the facilities to make it applicable to more customers and serve different needs. In addition, the location of the motel should be guided by social classes of the place (Pearce, 1995, p. 220). The concept can be applied by Albert Court Motor Lodge to determine the best location of the motel depending on the place where it is located and the social classes around the motel. When the motel is designed to attract a certain group of the social class it should be located at a place that it accessible to them easily and in an environment that is reliable to them (Plog, 2001, p. 27).  The other concept to consider in the location of the motel is the employment opportunities it will create to the neighbours. It is important that it is placed at a place that will offer potential positive aspects t o the motel. It should also be known that the setting up of the motel at a place will cause socioeconomic factors of the society. Human Resource Management It is within notice of many that many motels use part-time employment instead of using fulltime employment. The reasons that are contributing to using part-time employment are that the employer will not have long term attachments with the employees (Stamper Van Dyne, 2003, p. 34). However, the activity has negative consequences such as; employees employed part-time do not have commitment to the work and they will always come to get their pay and go back. Employing part-time employees will create a turnover effect that is more than employing them on a permanent basis. Due to the lack of commitment to the hotel, there is no adequate communication between the management and the employees. It is also evident all the part-time employees are less concerned about the well being of the hotel (Stamper Van Dyne, 2003, p. 34). In the mote l, it is important that the management get involved in ensuring that all the employees are well trained in matters that pertain to showing respect to their place of work as well as the customers.  Research conducted showed that part-time workers in most cases exhibit the critical work attitude and ethic than the full-time workers (Stamper Van Dyne, 2003, p. 34). Some of the workers are shown to contribute highly to the welfare at the work place. It should be noted that most of the managers usually look down upon part-time workers since they see as less committed to their work despite the fact that they are always doing the same job as the rest of the workers who are employed full-time (Stamper Van Dyne, 2003, p. 34). There is over simplification of the concept that most of the motel employees are not educated. The oversimplification has contributed to the fact most of the customers will always complain that the staffs are not competent and that they do not measure up to have a c onversation with the customers (Stamper Van Dyne, 2003, p. 36). To avoid the oversimplification, our motel should be focused on ensuring that it employs trained personnel who are competent with their work. This will also call for training of workers who have stayed in the company for long or who were previously employed in a manner that merit was not considered. The other recommendation I should make to the management is that there should be refresher courses that will make sure that the workers are taught on the need for security and other management problems (Stamper Van Dyne, 2003, p. 34). It is also important that the motel get to tap its manpower from the available trained resources from Hamilton. To ensure that the staffs of the motel have the same training and they respond to issues in a similar manner, there should be common courses that are taught to the workers before they are hired. The other concept to consider is the occupancy of the manpower, it is important to consi der the condition that the workers are living at, despite the fact that such an act will be taken as an intrusion into the private life of the staff (Simons Hinkin, 1992, p. 66). It is very important that the staffs employed are people who are presentable and are concerned about their personal grooming (Simons Hinkin, 1992, p. 66). The other issue that is very common among the workers is the issue of the work week. Most of the employees need to have a rest day within a week. It is always important that the off-day be communicated to the employees before they sign their contract letters (Johnson, 1998, p. 32). This will reduce chances of future disagreements when the employees are being posted according to their duty roster. This should also include the job rotation schedule that it should be done in a manner that it does not oppress the employee (Oliver, 1996, p. 253). It will give them the peace of mind as they work in the motel which will be a perfect means of ensuring that ther e is efficiency in the motel (Jone, 1990, p.147). Empowerment of the Employees The other concept that should be considered in the management of the lodge is the empowerment of the employees to make them feel important to the company this also will make them more responsible (Brymer, 1991, p. 60). The motel should adopt the process of decentralization of decision making; ideas should be contributed by all the workers and every stakeholder in the management of the motel (Hales Klidas, 1998, p. 88). I also advise that the workers in the motel be allowed to create groups that will be representing them to the managerial committees. (Prado, 2001, p. 789; Lashley, 2001, p. 343) Conclusion It is important that the management of the motel take into consideration the importance of marketing strategies that will take the motel to the higher levels. The location of the motel is vital in the determination of the future of the motel as well upgrading it to focus on other targets of the market. I n addition, human resource management should be careful in ensuring that they hire the most competent workers who will upgrade the level of the services offered. This also includes the empowerment of the workers, to raise their commitment while discharging of their duties. References Barsky, J., Nash, L. (2002). Evoking emotion: Affective keys to hotel loyalty. Cornell Hotel and Restaurant Administration Quarterly, 43(1), 39-46. Biehal, G. J. (1983). Consumers prior experiences and perceptions in auto repair choice. Journal of Marketing, 4 (3), 82-91. Booms, B., Bitner, M. J. (1981). Marketing strategies and organizational structures fornservice firms. Chicago, CH: American Marketing Association. Brien, E., Jeannie, M. (1993). Six Ps for four characteristics: a complete positioning strategy for the proffesional service firm. Journal of Professional Services Marketing, 9(1), 129-146. Brymer, R. A. (1991). Employee empowerment: A guest-driven leadership strategy. Cornell Hotel nd C atering Quarterly, 32(1), 58-68. Hales, C., Klidas, A. (1998). Empowerment in five-star hotels: Choice, voice or rhetoric? International Journal of Contemporary Hospitality Management, 10(3), 88. Jagels, M. G., Coltman, M. M. (2004). Hospitality management accounting. Hoboken, NJ: John Wiley Sons. Johnson, D. (1998). Human resource management in the tourism industry: Book 3. New South Wales, AU: McGraw Hill Book Company Australia Pty Ltd. Jone, J. P. (1990). The double jeoprady of sales promotions. Harvard Business Review, 68(5), 145-152. Lashley, C. (2001). Empowerment HR strategies for service excellence. Oxford, OX: Butterworth Heinemann. Lawson, F. (1995). Hotels and resorts. London, UK: Architectural Press. Lewis, O. K. (1984). Theoretical and practical consideration in research design. Cornell Hotel Restaurant Administration Quarterly, 24(4), 24-35. Oliver, R. I. (1996). Satisfaction: A behavioural perspective on the consumer. New York: McGraw-Hill. Pearce, D. (1995). Tour ism today: A geographical analysis. London: Longman. Plog, S. (2001). Why destinations areas rise and fall in popularity. Cornell Hotel and Restaurant Administration Quarterly, 42(3), 12-25. Powers, T. (1995). Introduction to management in the hospitality industry. New York, NW: John Wiley Sons, Inc. Prado, J. C. (2001). Beyond quality circles and improvement teams. Total Quality Management, 12(6), 789. Simons, T., Hinkin, T. (1992). The effect of employees turnover on hotel profit: A test across multiple hotels. Cornell Hotel and Restaurant Admininstration Quarterly, 42(4), 65-69. Stamper, C. L., Van Dyne, L. (2003). Organizational citizenship: A comparison between part-time and full-time service employees. Cornell Hotel and Restaurant Administration Quarterly, 44(1), 33-42. Wearne, N. Marrison, A. (1996). Hospitality Marketing. London: Butterworth-Heinemann Ltd.

What Is Fiat Money

What Is Fiat Money Fiat money is a currency established as money by government law. The term is a derivation from a Latin word fiat (let it become) used in the sense of an order or decree. It differs from commodity money and representative money. Fiat money is a currency established as money by government law. The term a derivation from a Latin word fiat (let it become) used in the sense of an order or decree. It differs from commodity money and representative money. Commodity money is created from a good, often a precious metal such as gold or silver, which has uses other than as a medium of exchange, while representative money simply represents a claim on such a good. The simplest definition of fiat money is:  Ã¢â‚¬Å"Money that exists because a government says so. MONEY MAKES THE WORLD GO AROUND Historically, most money was based on some commodity such as gold, silver, or other important goods, and had a value which could be expressed in terms of some amount of that commodity. Fiat money, by comparison, has no intrinsic value; its value is based on faith in the issuing government. How Fiat Money Works Fiat money is essentially a form of credit. When a government declares a currency to be legal tender, that means it can be exchanged for goods or services equivalent to the value of the currency, and the credit comes in the form of the assurance to the seller of the goods or services that the currency can be exchanged for further goods or services. From a purely theoretical perspective, fiat money reverses the relationship of prices and currency value. With commodity-based currency, one unit of currency is equal to some quantity X of a backing commodity. The price of a cheeseburger (or other product or service) is an equivalent value of some quantity of the same commodity, expressed in terms of units of the currency: So in other words, $1 might be worth 1/1000 ounce of gold, and a cheeseburger – after the maker of the cheeseburger considers his costs to make it, the amount of profit he must make, and what he thinks his market will be willing to pay for it – might be worth 3/1000 of an ounce of gold, which makes the cheeseburger worth $3. The backing commodity is what actually serves as the money, with the coins or paper bills simply representing a sort of â€Å"IOU† for a particular amount of it. HOW TO SAVE MONEY IN COLLEGE? With fiat currency, there is no backing commodity to serve as a common frame of reference, so the value of the currency is expressed in terms of the goods and services purchased with it: This is fine, of course, as long as everyone agrees that the currency represents a certain value. When the cheeseburger maker is reasonably certain that the $3 he charges for it will cover the costs of its production plus provide him a profit, then $1 is worth one-third of a cheeseburger. In turn, his suppliers must be reasonably certain that what he pays for the bun, meat, cheese, condiments, and gas or electric needed to cook it will cover their costs plus a profit, and so on. If confidence in the assumed value of the currency is lost at some point in the whole complex value chain that exists between wheat seeds, cow embryos, and the customer standing at the fast-food counter, the fragile system begins to break down, which we usually experience as price inflation. Are There Any Advantages of Fiat Money? Fiat money is a Keynesian economic concept, so the debate among economists about whether or not it’s a good idea, unfortunately, has a distinctly unhelpful sectarian tone to it. From the purely Keynesian perspective, fiat money provides the government a means to control prices – and by extension, consumption and production – by controlling the money supply. The more money available, the less each unit of money is worth, so prices inflate; remove money from the system and the unit value decreases, thus deflating prices. This is the basic idea behind â€Å"quantitative easing†; the government prints more money to encourage lending by banks and spending by businesses and consumers. If done properly, injecting money into the financial system should hypothetically boost lending and spending enough to increase production, which compensates for the inflation in prices caused by the availability of more money. Commodity-backed currency, on the other hand, cannot be so easily managed because the amount of money is determined by the reserves of the backing commodity, usually gold, and by the price at which that commodity is being traded. Price inflation and deflation in a commodity-backed system are caused by fluctuations in the price of the commodity. For example, let’s say Country A has a reserve of one million ounces of gold and sets the value of its currency (the A$) at 1 A$ = 1/100 ounce of gold when the price of gold is 100 A$ per ounce. As the price of gold changes, the real value of the currency changes, resulting in inflation or deflation: The price of Gold Value of 1,000,000 oz. Gold Reserve Amount of Currency Value of 1 A$ Inflation/Deflation Rate 100 A$ 100 million A$ 100 million A$ 1 A$ +/- 0% 105 A$ 105 million A$ 100 million A$ 1.05 A$ -5% (deflation; 1.05 A$ worth of goods are worth only 1 A$) 98 A$ 98 million A$ 100 million A$ 0.98 A$ +2% (inflation; 1 A$ only buys 0.98 A$ worth of goods) The government can moderate inflation/deflation by either increasing or decreasing the money supply as needed to match the value of reserves, or by buying or selling the reserves themselves. Because of the value of commodities changes rather quickly, and because adjusting either the money supply or a number of reserves also affects the price of the commodity, managing prices in a commodity-backed currency system is much more difficult than it is in a fiat money system. The biggest problem with the Keynesian point of view towards fiat money is that the verdict of history is rather clear that fiat money systems are ultimately catastrophic. One of the earliest examples is the long collapse of Roman currency between 0 and 244 A.D., where â€Å"fiat money† took the form of progressively reduced proportions of silver in Roman denarii coins. In 11th-century China, a shortage of copper for coins led to the issuance of one of the world’s first paper currencies, which devalued quickly as more and more were issued (and in all likelihood, widely counterfeited). Three times in French history – after the death of Louis XIV in 1715, after the French Revolution in 1789, and during the Great Depression in the 1930’s – fiat currency was issued, rapidly over-supplied, and collapsed due to hyperinflation. Germany’s post-WW I Weimar Republic, the Asian Financial Crisis in 1997, Mexico’s â€Å"Tequila Hangover† in 1994, the severe devaluation of the Russian ruble in 1998, the Argentine financial crisis of 1999-2002, and the almost unfathomable hyperinflation in Zimbabwe under Robert Mugabe are also examples of financial calamities brought on, one way or another, by the use of fiat money.

Level 6 Diploma in Career Guidance and Development - Career Guidance Essay - 1

Level 6 Diploma in Career Guidance and Development - Career Guidance Theory - Essay Example In fact, these two go hand-in-hand. One has to be guided on the best career that suits him/her, basing on some well proven facts, before the career is now developed and nurtured in him/her. Career guidance is a broad process that involves many career development practices that bring people to their occupation understanding (James A., 2008,420). Various factors influence the peoples’ career making decisions they include; interests, hobbies and talents, environment, society, parents among others. These factors alter the peoples’ career making decisions bringing forth four critical concepts or theories that bring about the success of a good career choice they include; career choice, decision making, career learning and transition and vocational behavior.√ In my profession of career guidance, these concepts are very vital in helping clients overcome the career choice problems. I have to employ these concepts step by step, starting from the long list of careers that people have in mind, till the time they are able to come up with a satisfying career decision and learning. I have to make sure that I make use of each and every theory and aspect that is necessary for a good career development and guidance plan. There are very many processes that can be followed. Different groups of scholars have come up with varied ways and processes that can be used in career development, in various professional fields. To understand the career guidance process vividly, I am going to discuss some of the career guidance theories and their relation to the above mentioned concepts of career choice. These theories are John Holland’s career theory, John Krumboltz’s theory and Donald Super’s theory. John Holland topological theory states that personality types and background or peer group are what attracts people to certain careers. He gives much emphasis on self scrutiny and career preference whereby one selects a career to satisfy

Operation management Assignment Example | Topics and Well Written Essays - 1250 words

Operation management - Assignment Example It is situated close to the road but with a great accessibility that is leveled by a wider opening based on its position (Ruffa, 2008). There are two gates that allow for exit and entrance without inconveniencing the other. It is spacious and the loading areas are well marked out to avoid any delays or confusions during delivery or loading. The zoning schemes in this particular area are also conducive for the establishment of such a high-powered delivery and loading of the tires which imply that we can maximize the 5000 kg average load per day and become the best supplier in the area. Qn 2: This is a Chevrolet car matrix 400 (also known as Chevrolet Nova) that was manufactured in 1964 after the major companies during this era began restructuring and changing their trends. This car was one of the best at the time with its features being unrivalled by other competitors. It was considered an executive car with four doors and a sedan style to complement its features. It has a front engin e with rear-wheel drive. Its engine has a capacity 3179 cc with a 106 horsepower capacity. It has a three gear manual gear-box and a single barrel carburetor (Huntimer, 2009). This can be contrasted with 2009 Tata Nano Car from India which can be said to be of a higher quality. The car, pictured below, has been in production since 2008 to the present with improvements being made on a daily basis to make sure it attracts as many buyers as possible outdoing other competitors in the market. It is classified as a city car with a four-door one-box body style. Its engine is a 2 cylinder SOHC petrol Bosch multipoint fuel injection with a 624 cc capacity. Its trunk is accessible only from the inside with one windscreen wiper compared to Chevrolet’s pair. Its engine is in the rear compared to the Chevrolet’s which is at the front. It has a 38-metric horse power with two valves per cylinder overhead camshaft. It is similar to the Chevrolet in the fact that it has a rear wheel dr ive but differs in the fact that it has a 4-speed manual transmission. It is also more advanced in its options in the area of the engine compartment with the compressed air engine offering more avenues through which the user will save (Witzel, 2010). Further, the rear suspension has an independent coil spring that allows for safety all the time. It is fuel efficient, making it a car that one can operate comfortably within the city. Its small body makes it easier to maneuver within the city center with the traffic jams being considered. Qn 3: To calculate EMV, given the probabilities, total cost is worked from both the fixed costs, quantities and variable cost. This approach would give the best approach to use. It is should therefore, be the approach that gives us the  ­lowest total costs. Total cost = fixed costs + quantity x variable cost: Method probability Fixed cost($) quantity Variable cost($) Total cost($) Low tech 0.2 45,000 200,000 0.55 45,000+(200,000*0.55)=155,000 Low te ch 0.5 45,000 200,000 0.50 45,000+(200,000*0.50)=145,000 Low tech 0.3 45,000 200,000 0.45 45,000+(200,000*0.45)=135,000 Medium tech 0.7 65,000 200,000 0.45 65,000+(200,000*0.45)=155,000 Medium tech 0.2 65,000 200,000 0.40 65,000+(200,000*0.40)=145,000 Medium tech 0.1 65,000 200,000 0.35 65,000+(200,000*0.35)=135,000 High tech 0.9 75,000 200,000 0.40 75,000+(200,000*0.4

Historical Weather Patterns of Michigan Essay Example for Free

Historical Weather Patterns of Michigan Essay Evaluating changes in synoptic patterns is tantamount to understanding regional climate change. To date, the synoptic evaluations that have been done regarding climate change output from General Circulation Models have been restricted mainly to examining changes in storm tracks across large areas. The north generally experiences colder weather compared to the south, but Michigan weather is unpredictable and switches rapidly, especially during the winter (Hodak, 21-28). Seasons and types of weatherfall, cool nights and warm days; wintersnowy and constantly cold, getting dark early in the evening; springwarmer days, often rainy with thunderstorms; summerhot days and warm nights, daylight lasting until late in the evening (Bohnak, 87-95). People love to talk about the weather. From Maine to the Midwest, locals are convinced that their weather conditions are the weirdest. Theyll tell you about the big blizzard, the great flood, or the hideous humidity, convinced that decades of harsh weather have shaped the characters of the local people (Keen, 19-27). Relationships between springtime heat accumulation and low temperature events in the western Lower Peninsula were investigated. Sixty years (1931-1990) of daily maximum and minimum temperature data from six stations were used to calculate seasonal growing degree day (GDD) accumulation normal and extremes  and their relationship to the date of last freeze at each station throughout the period. Results indicate that in spite of a wide range of individual station and year-to-year variability, both regional springtime GDD accumulation thresholds and last freeze dates are occurring earlier but the timing of GDD thresholds is changing more rapidly, resulting in a net trend toward more freezes after certain GDD thresholds are crossed and a flat or increasing amount of GDDs accumulated on the date of last freeze (Keith, 35-41). Extreme low temperature events are a normal part of springtime climatology in Michigan and can cause severe damage to many of the states diverse agricultural crops. In particular, late spring freezes are a major concern in the western counties of the Lower Peninsula where commercial fruit production is concentrated and their occurrence may be a significant factor in explaining inter-annual variations of yield (Hodak, 21-28). For example, a series of freezing nights in late May 1992, damaged several types of fruit (grapes, strawberries, plums, and sweet cherries), reducing the overall potential size of the crop. Although United States mean temperatures have been rising during the last decade, perhaps as part of a wider global trend, some recent springs have been particularly warm in Michigan (e.g. 1991), extreme low temperature events continue to occur (Keen, 19-27). The possible association between regional temperature trends and the risk of extreme minimum daily temperature events has not been widely examined. Some efforts have focused on documenting recent changes in the length of the growing season or on the relationship between mean temperature trends, but little is available concerning Michigan (Keith, 35-41). Furthermore, recent literature is largely silent on the question of how springtime low temperature risk is conditioned by antecedent weather patterns, that is, for example, whether a warm April is normally followed by a lower-than-average frost risk in May. Regardless, to the extent to which climatological findings of this type could be generalized from one climatic region to another is uncertain, so such relationships established elsewhere might carry very little information about the risk in Michigan (Bohnak,  87-95). One important relationship between human activities and the atmosphere is pollution. The health effects of polluted air and the ways in which humans and society can reduce pollution are ideas that are considered in the middle and high school benchmarks. At the high school level, in particular, this includes a discussion of global warming and acid rain. Interestingly, one issue for the teaching of these topics is the exclusive connection between air pollution and human activities with lack of regard for other natural sources of air pollution, such as burning leaves, fireplaces, volcanoes and methane gas from cows (Keen, 19-27). All of the changes are consistent with changes in the general large-scale flow patterns. An understanding of all these synoptic changes provides richness and a more conceptual understanding of how climate change may affect the Great Lakes region. References Bohnak, Karl, So Cold a Sky: Upper Michigan Weather Stories, Cold Sky Publishing, Negaunee, MI, pp. 87-95 Hodak, J. United States Weather: Michigan Edition, U.S. Weather Corp. Oklahoma City, OK. 1976, 21-28 Keen, Richard A., Michigan Weather, Publisher: Two Bears Press, September 1993, pp. 19-27 Keith Heidorn, Keith, And NowThe Weather, Publisher: Fifth House, Jul 13 2005, pp. 35-41

Existentialism Essay -- essays research papers

Existentialism is a philosophy about life that says being is more important than the indispensable everyday occurrences. It acknowledges an individuals freedom to choose and says with this knowing there comes an immense sense of responsibility. Despair, hopelessness and anxiety are characteristic of a person struggling with existential thoughts. Nihilism sums up this condition by stating that all values are baseless, nothing is foreseeable and that life itself is meaningless. The characters in A Clean Well Lighted Place and A Day’s Wait show signs of being both aware and unaware of these elements of existentialism.   Ã‚  Ã‚  Ã‚  Ã‚  In the first story, A Clean Well Lighted Place, the old drunk man represents someone who realizes he has no actual plan or fate. His despair is over the realization that theoretically the afterlife does not exist. The drunken man and older waiter share this despair not only because they both realize a man’s need for a clean, well-lighted place but also because they both struggle to fill a void. The older waiter’s acknowledgement of nothingness in life is evident when he recites the prayer but fills in the perceived nouns God and heaven with nada or nothing. He feels a void with this realization that keeps him awake at night. His assumption that others share his insomnia is somewhat correct but what they, the drunken man and the waiter, actually share is a void. The young waiter has a wife to go home to and a bed, the old drunken man ...

Understand Sequence & Rate of Each Aspect of Development from 0-19 Years

1. 1 Explain the sequence & rate of each aspect of development that would normally be expected in children & young people from birth -19 years Development is what happens to every individual at every stage of his or her lives. Developing something means to learn different skills, physical aspects and involves gaining control of the body. For example, a baby will develop physically because it is still going to grow, which means the body will still be changing. Another example is if an older person is learning a new skill, like how to use a computer. That person’s computer skills are developing as he/she is learning a new skill and is gaining control over it physically and mentally. When you are developing, you are learning and growing into a better person than what you are now. You begin to understand more than what you already know. This means your body is changing and has to retain a lot more information every time you develop. Therefore, a developmental milestone is what the average child does at each stage of their development. It is a basic functional skill or age specific task that most children develop at a certain age range. When the baby is new born, for the first few years of the baby’s life, he or she visits a paediatrician for regular check-ups. The paediatrician checks how the baby is developing using milestones. Although there is a specific age for when the child is expected to meet each milestone, this is not always the case. Every child is unique and therefore each child develops and reaches its milestones at different ages. The level of age that a child should reach each milestone is just an average estimate. There could be a number of different reasons as to why a child is not reaching the milestones are the expected ages, some of these reasons could include: * Genetic factors – a child inheriting the parents genes, * Parent involvement – the amount of time the parents have for their children, to encourage their children’s development, * Health implications, * Environmental factors – the quality of the child’s home and area. Growth is different to development. Growth is being able to grow into a bigger person. The growth process not only involves a child’s height and weight, it also involves the growth of their teeth, when a child gains teeth, they then fall out and gain new teeth. For a teenager it involves starting puberty and for any person it involves the growth of hair and nails. All these different growth processes occur as the body matures. Although growth and development have different meanings, they are closely linked. They usually follow the same pattern, although sometimes this is not the case. For example, if there is something wrong with the child or they have a disability, this could be because they are still growing but not developing. There are different factors that could influence a child’s growth and some of these include: * Genetic factors – inheriting the parents genes * Environmental factors – e. g. living in cramped spaces could lead to poor growth. * Financial factors – e. g. the child’s parents may not be able to afford new shoes for their child, therefore if the child continues to wear the same small shoes, their feet will not grow properly. * Emotional factors – e. . if the child is emotionally stressed and upset, they may not eat very well or lack sleep, preventing them to grow. * Intellectual factors – e. g. the child not having the knowledge to know what is a healthy diet. Therefore, if the child eats a lot of junk food instead of fresh foods it could prevent a healthy growth. * Physical factors – e. g. having a problem or condition, which affects a child’s growth. Growth and development is very important, especially throughout a child’s childhood. This is because at these early stages of their lives, they develop and learn the most. It is important for a child to have the right foundation of growth and development in the early stages of their lives for them to increase their growth and development throughout the rest of their lives. Good development enables a child to increase their skills and knowledge, which will help them throughout their lives. For example, when they are looking for a job they will be equipped with a good development of knowledge and intellectual skills, which will result to a better job. Another example is if when a child attends school, they will be able to learn and develop quickly which will result to better grades. Good growth on the other hand, enables a child to have a healthy weight, height and an overall healthy body. Good growth also helps a child’s development. Physical growth and size Physical growth occurs from 0 to 18 years. This is from the time the baby is born to the time the baby matures. The child will grow according to the individual child and the different parts of its body; this also depends on the rate that the child will grow at throughout the years. The child may experience a ‘growth spurt’, which is when the body tends to grow at a much faster pace than the child’s usual growth rate. Parts of the body also grow quicker than other parts at different times. For example, usually a baby’s head is larger than the rest of the body when born. As the baby grows, the head becomes smaller in proportion to the rest of the body parts. Health professionals monitor babies’ growth using a chart called the ‘Centile Chart’. Midwives and health visitors usually measure and weigh babies and children and then plot the measurements on the centile chart. A centile chart is used to measure babies and children’s’ height and weight and compare it to the average height and weight. This is to check if they are growing at a normal rate. If they are not, then it could be because of health implications, which is then assessed by the GP. A centile chart is quite similar to the developmental milestones, as they both measure babies and children according to the average measurements. The height and weight of a child is usually recorded on two separate centile charts. There is also a separate centile chart for both boys and girls. This is because boys are usually taller and weigh more than girls, so the average height and weight will be different for both genders. The chart has three lines marked on it and they are known as the 98th centile, the 50th centile and the 2nd centile. For the 98th centile it would be labelled as ‘98’ and this will show the children who are taller or heavier than the average child. The 50th centile would be labelled as ‘50’ and this shows the average height and weight of the child. Therefore, the 2nd centile would be labelled as ‘2’ and this shows the children who are shorter or lighter than the average child. Only 3% of children are expected to be above or below the 98th or 2nd centile. Physical Development Physical development is when the child starts gaining control of their movements and learning skills, these are developed with age. Physical development is when the muscle strength increases in a child. They learn to sit up by themselves, and then they learn how to crawl and eventually how to walk. This is all to do with the physical development of a child’s muscles. However, physical development also includes the maturity of the central nervous system. This means that children are more tolerant to pain as they grow older, due to the toleration levels of their central nervous system. For example, if a child is dropped at 3 months old, the amount of pain inflicted on the child would be substantially high, where as if a child at 3 years was dropped the amount of pain inflicted would be noticeably lower due to the developmental progression of the nervous system. Physical development can be divided into three main categories, these are: * Fine motor skills * Gross motor skills * Sensory skills Gross Motor Skills Gross motor skills are the reflexes in a child’s body. This consists of using the larger muscles in the legs, arms, torso and feet to control their body and larger movements. When a baby is born their physical movements consist of unintentional movements known as reflexes. These reflexes help babies to survive, as they have no control over their bodies or their movements at first. Once the baby gains control over it’s body and movements, these reflexes go. This type of reflex is known as ‘primitive reflexes’. For example, anything placed in a baby’s mouth will automatically be assumed as a breast or teat. Therefore, the baby will automatically start sucking as they think they are getting fed. This is a primitive reflex, which disappears once the baby is 6 months old. Fine Motor Skills Fine motor skills is another reflex movement but involves grasping. To enable smaller movements and manipulation, this reflex involves using smaller muscles of the fingers, thumbs, toes, wrists, lips and tongue. For example, a baby will first start to curl their hands when born, therefore, if an object was placed in their hands, they would try to hold onto the object by curling their hands. This reflex disappears after 3 months. A ‘pincer’ grip is when a baby can hold an object between their thumb and index finger. Pincer grasp is usually developed at the age of 1. A child usually performs gross motors skills before they perform fine motor skills. This is because a baby finds it easier to develop their larger muscles before they develop their smaller muscles and movements. For example, a baby will learn to wave their legs and arms around first, before wiggling their fingers and toes. This is because gross motor skills involve controlling the body; the baby needs to know how to control the body before it can perform smaller movements and manipulations. Gross and fine motor skills are very similar however, as many activities depend on the co-ordination of both motor skills. For example, being able to pick up a ball that is placed on the floor – the child needs to be able to pick up the ball with its fingers (pincer gripping – fine motor skills) and move the ball off the floor with its arms (gross motor skills). Although they work together most of the time, there is a difference to what each skill performs. Gross motor skills are the larger muscle movements and fine motor skills are the smaller muscle movements. They are both reflexes but involve different parts of the body. For a baby to develop properly, he r she needs to develop both skills well, as one skill performed without the other would make it extremely hard for the baby to physically develop to its full potential. Sensory Development Sensory development consists of using our senses, which are sight, hearing, taste, touch and smell. Senses are the physical processes of our nervous system. For example, breastfed babies can sense the smell of their mothers’ breast compared to other women’s breast. This shows that the baby can use its smell sense to distinguish different smells. Therefore, the baby is developing its sense of smell. This will develop as they grow older, for example, when the baby is 5 years old, their sense of smell would have fully developed to an adults level. Intellectual Development Intellectual development is the development of the mind. A child’s mind is very active from birth. As children develop their mind to think, learn reason and explain, their intellectual development progresses. For example, at 3 months old a baby likes to explore different textures, like on a play gym or an activity mat. By the time the child is 2 years old, they have developed different textures in their mind and are now able to match different textures. Children learn intellectually through different ways, some of them being: * Using their senses * Exploring * Imitating/role play * Curiosity * Experiments * Observing * Making mistakes * Playing There are some factors such as family history that can affect intellectual development. This is because a baby’s development can be affected by inheriting genes from its parents. The inheritance could be from a family’s history of late developers. Another factor that can affect a child’s intellectual development could be encouragement from the parents to help learn and develop their child’s mind. It could also be the environment that the child lives in; if the child’s environment is cramped, this could mean that there is not a lot of space for the child to play and do certain activities that would develop his or hers skills. This could also lead to financial factors, the parents of the child not having enough money to facilitate learning aids to help their child’s development. Cognitive development Cognitive simply means thinking. Cognitive development is similar to intellectual development as it is the development of the mind, however it is the development of the mind through thinking and learning skills. This enables a child to understand the environment around them. The keys to successful cognitive development are: * Concepts – Children need to learn different concepts. The child has to see and experience things to develop a range of concepts. An adult providing activities, equipment and support can also develop these concepts. Problem solving skills – A child learns how to solve problems through trial and error, identifying there is a problem that needs solving, working out a solution and predicting what might happen. This is also linked to the child’s ability to reason. They begin to understand that their actions will produce results such as; pushing a button on a toy will produce a result by making a noise. * Creativity – this gives a child the ability to use their imagination to express their ideas. This can be done through painting pictures, making collages, dancing and making music, etc. Imagination – this is when a child sees things that do not exist or are not in front of them. Children imagine images in their head to play pretend games, make up stories or talk to an imaginary friend. This gives them comfort in knowing there is someone there with them. * Memory – a child storing and retrieving information, ideas and things that have happened to them, learn this mentally. They remember things that have happened to them in their brain for a short time or depending on the situation, this could be a long-term memory. Sometimes a little release of information can trigger off what they stored as memory in their head. * Object permanence – this describes the awareness of an object to a child. For example, if an object were no longer visible to a baby, they would think that the object no longer exists. Object permanence tries to develop the child’s mind to think that the object still exists although it is not visible to the eye. * Concentration – this is the ability of a child to spend time and pay attention to a task. The child develops the ability to stay focused on a task for longer as they develop, whereas at first, they would get distracted and lose concentration a lot quicker. A theorist called Piaget believes that the stages of cognitive development have an effect on how a child’s thinking is developed throughout their childhood. However, this theory was understood in the late 1980s and since then, children’s stages of cognitive development have increasingly changed due to the child’s age. Language development Language is how a person speaks and communicates with others, also known as verbal communication. Language development is how children express their needs and share information with others using language. A child’s language is developed depending on how much the child practices speaking. From birth a baby cannot speak, however they use other forms of language to share information. For example, they learn how to cry when they are hungry, this is using language and the baby has developed this skill by knowing that when he or she cries, they will be fed. Speaking through the mouth does not only develop language, it also involves other physical movements. E. g. face expressions, sign language, writing, etc. It can also involve non-verbal communication such as listening to voices, practising sounds and learning what different sounds mean. Language development can be divided into two stages: * Pre-linguistic * Linguistic The pre-linguistic stage occurs between birth and 12 months. At this stage, babies learn to understand what is being said to them and learn the rules of how to communicate. Although they cannot talk at this stage, they learn to communicate to gain attention by crying, smiling and using facial expressions; they may also point to what they want or nod their heads. The linguistic stage is when babies’ speech starts to develop. Now words can be used to label objects or to share information. The child first starts off with one-word speeches and then later on their language develops into complex sentences. Emotional Development Emotional development is how children understand what people are feeling and what they are feeling about themselves through the things they do. Children feel a lot of emotions including fear, excitement, affection, pride, jealousy, sadness and contentment. A child develops emotionally starting from birth. For example, when a baby is feeling lonely they will cry for attention and love. This is how babies express their emotions, through crying, laughing and facial expressions. When children grow older, they learn to control their emotions. This is another emotional development as they have learnt how to control their feelings, and their brain functions. This is learnt through the later stages of childhood. An example of this would be a child falling over and not wanting to concern others of his or her accident, therefore controlling his or her emotions. This in affect will not only control the child’s emotions, but the child has also developed that it will affect other people’s emotions and is trying to control that too. Emotional development can affect intellectual and social development. They learn how different emotions can affect others around them. The children learn to understand that being happy is healthier than being sad, as there is a less risk of the child becoming stressed or depressed. Emotional development can also affect social development by the child understanding that their emotions affect the relationship they have with others. For example, if they love their parents, the parents will care and love the child back. On the other hand, if a child was being rude and arrogant, other children would not want to socialize with him or her, leaving the child feeling emotionally lonely and upset. Children also learn different emotions through social experience. Social Development Socialising is the process of interacting with others. They begin to socialise at first with their primary carer, e. g. parents, carers, etc. The social skills developed from a child are through the child socialising with its primary carers. A baby’s social development follows a pattern, which is: * Interaction with their main carer – this include making eye contact, smiling, showing facial expressions and babbling. * Knowing that they are part of a family – they recognise who their family are through familiar faces that they see all the time. They understand who strangers are by not recognising the faces. * Mixing with other people in a group and co-operating – they start to follow instructions, copying and imitating actions, playing with other children and sharing toys or objects with others. Children are not born with social skills; they have to learn how to develop this through life experiences. Usually it is the primary carers that encourage socialisation between their child and others. They help them develop the skills of interacting with others. This is also helped by the physical, social, language and intellectual development, as they all play a big part on how children should socialise with others. These social skills are developed through time; depending on the age of the child, their actions will be different.