Ethan Frome Lit Crit

Marxism is mainly about money and If you don't have money then your not happy and you will be unhappy because you wont have as much as you would like. The narrator needed a ride to his work and he couldn't find anyone someone told him about Ethan, that he will do anything to make a buck. The narrator asked Ethan and he ended up saying yes because he needed the money. When Ethan came back from law school, for good, his mother hired Keenan to take care of her but then people started talking and he felt obligated to marry Keenan In the end.When Ethane's mother died she was worried about money ND what Ethane's dad had done. Ethan worked In his lumber limb that he had and did anything to get a few bucks here and there. Since Keenan â€Å"always† got sick, since Ethane's mother died, she would spend most of their money to pay for her medical bills and medication. Instead of paying a maid to come and work for them Keenan was able to get Mattie to help her for free because Mattie didn 't have anyone after her parents died except her cousin Keenan. The first time Ethan picked up Mattie to him It felt like love at first sight when they first met her.Even though It was love at iris sight he TLD realize that It was going to be another person to feed even with the little money he was making from the lumber limb. Financially he had to make a way to provide to feed an extra person. Ever since Ethan met Mattie and when they would hang out he felt less stress about money. He kept wanting to leave with Mattie but never could because he couldn't leave Keenan just like that. He was afraid of what people might look at it. If Ethan was able to leave Keenan Just like the man who left his wife for his mistress he would.As much as he wanted to do so he felt bad to leave ere after all he did bring her to the house and now he's Just going to leave her with a house with bills that she couldn't afford to pay and she wouldn't able to sell it. The economy was down in town and people we ren't able to pay for or buy a house. The economy was down to a point where people were barely making it. Jobs were being lost. Some people couldn't afford a lot of food because they needed to have a house. This relates to Ethan From because Ethan was one of those people who couldn't make a lot of money.Ethan had trouble getting Just a little extra cash on the side Just o afford something for themselves. Ethan From Is a good example of Marxism because it shows that people of the lower class are always unhappy unless they have money with them. In this book it tells you that money is what makes people happy. If people didn't have money they would be stressing out and have house situations. The economy is based on money. Money keeps the economy going and when it goes down everybody struggles to make a living. Ethan From showed a form AT Marxism Decease social class. Outnumber ten story people Autocue mainly on money Ana t

The Economic Impact of Major Sports Events: a Review of Ten Events in the Uk

The economic impact of major sports events: a review of ten events in the UK Chris Gratton, Simon Shibli, and Richard Coleman Introduction Over recent years there has been a marked contrast between the discussions around the economic impact of major sports events in North America on the one hand and most of the rest of the world on the other. In the USA the sports strategies of cities in the USA have largely been based on infrastructure (stadium) investment for professional team sports, in particular, American football, baseball, basketball, and ice hockey.Over the last decade cities have offered greater and greater incentives for these professional teams to move from their existing host cities by offering to build a new stadium to house them. The teams sit back and let the host and competing cities bid up the price. They either move to the city offering the best deal or they accept the counter offer invariably put to them by their existing hosts. This normally involves the host city building a brand new stadium to replace the existing one which may only be ten or ? fteen years old.The result is that at the end of the 1990s there were thirty major stadium construction projects in progress, around one-third of the total professional sports infrastructure, but over half of all professional teams in the USA have expressed dissatisfaction with their current facilities. Baade (2003) argues that since 1987 approximately 80 per cent of the professional sports facilities in the United States will have been replaced or have undergone major renovation with the new facilities costing more than $19 billion in total, and the public providing $13. billion, or 71 per cent, of that amount. The use of taxpayers money to subsidize pro? t-making professional sports teams is justi? ed on the basis that such investment of public money is a worthwhile investment since it is clearly outweighed by the stream of economic activity that is generated by having a professional sports team r esident in the city. Such justi? cations are often backed up by economic impact studies that show that the spending of sports tourists in the host city more than justi? es such a public subsidy.Crompton (1995, 2001) has illustrated that such studies have often been seriously methodologically ? awed, and the real economic bene? t of such visitor spending is often well below that speci? ed in such studies. This is  © The Editorial Board of the Sociological Review 2006. Published by Blackwell Publishing Ltd, 9600 Garsington Road, Oxford OX4 2DQ, UK and 350 Main Street, Malden, MA 02148, USA Chris Gratton, Simon Shibli, and Richard Coleman particularly the case given the need for such huge infrastructure investment needed to attract the professional teams.In Europe, however, city sport strategies have concentrated more on attracting a series of major sports events, such as World or European Championships, again justi? ed on the economic impact generated through hosting such events. Wh ereas many American sports economists (eg, Baade, 1996; Noll & Zimbalist, 1997; Coates & Humphreys, 1999) now consistently agree that studies show no signi? cant direct economic impact on the host cities from the recent stadium developments, it is not so evident that European style hosting of major sports events is not economically bene? cial to the host cities.This chapter looks at ten major sports events, all World or European Championships hosted by UK cities over recent years, all of which have been studied by the current authors. The difference from the North American situation is that these events move around from city to city in response to bids from potential host cities and in all ten cases did not require speci? c capital infrastructure investment to be staged but rather were staged in existing facilities. Before we look at these events, however, we brie? y review the literature on the economic importance of major sports events.The biggest by far of such events is the summ er Olympic Games, in particular in the infrastructure investment required to host the event, and the next section is devoted just to that event before the literature relating to all other major sports events is considered. The economic importance of the summer Olympic Games Despite the huge sums of money invested in hosting the summer Olympics, there has never been an economic impact study of the type described in this paper to assess the economic bene? ts of hosting the event. Kasimati (2003) summarized the potential long-term bene? ts to a city of hosting the summerOlympics: newly constructed event facilities and infrastructure, urban revival, enhanced international reputation, increased tourism, improved public welfare, additional employment, and increased inward investment. In practice, however, there is also a possible downside to hosting the event including: high construction costs of sporting venues and related other investments, in particular in transport infrastructure; tem porary congestion problems; displacement of other tourists due to the event; and underutilized elite sporting facilities after the event which are of little use to the local population.Kasimati (2003) analysed all impact studies of the summer Olympics from 1984 to 2004 and found, in each case, that the studies were done prior to the Games, were not based on primary data, and were, in general, commissioned by proponents of the Games. He found that the economic impacts were likely to be in? ated since the studies did not take into account supply-side constraints such as investment crowding out, price increases due to resource scarcity, and the displacement of tourists who would have been in the host city had the Olympics not been held there.Although no proper economic impact study using 42  © The Editorial Board of the Sociological Review 2006 The economic impact of major sports events primary data has ever been carried out for the summer Olympics, Preuss (2004) has produced a compr ehensive analysis of the economics of the summer Olympics for every summer Olympics from Munich 1972 using secondary data, and employing a novel data transformation methodology which allows comparisons across the different Olympics.Despite collecting a massive amount of secondary data, Preuss’s conclusion on the estimation of the true economic impact of the summer Olympics is the same as Kasimati’s: ‘The economic bene? t of the Games . . . is often overestimated in both publications and economic analyses produced by or for the OCOG [Organizing Committee of the Olympic Games] . . . multipliers tend to be too high and the number of tourists is estimated too optimistically’ (Preuss, 2004: 290).Preuss, however, does make some strong conclusions from his analysis. He shows, for instance, that every summer Olympics since 1972 made an operational surplus that the OCOG can spend to bene? t both national and international sport. Popular stories in the mass media re lating to massive losses from hosting the Olympics have nothing to do with the Games’ operational costs and revenues. Rather it is to do with the capital infrastructure investments made by host cities on venues, transport, accommodation and telecommunications.These are investments in capital infrastructure that have a life of possibly 50 years or more and yet many commentators count the full capital cost against the two to three weeks of the Games themselves. Preuss points out that in strict economic terms this is nonsense: it is impossible and even wrong to state the overall effect of different Olympics with a single surplus or de? cit. The true outcome is measured in the infrastructural, social, political, ecological and sporting impacts a city and country receive from the Games. (Preuss, 2004: 26)Estimating the true economic impact of a summer Olympic Games properly therefore requires a huge research budget in addition to the other costs associated with the Games. Research needs to start several years before the Olympics and continue several years after they have ? nished. So far nobody has been willing to fund such research. There is increasing research output, however, relating to other major sporting events. The economic importance of other major sports events The study of hallmark events or mega-events became an important area of the tourism and leisure literature in the 1980s.The economic bene? ts of such events have been the main focus of such literature, although broader based multidisciplinary approaches have been suggested (Hall, 1992; Getz, 1991). Within the area of mega-events, sports events have attracted a signi? cant amount of attention. One of the ? rst major studies in this area was the study of the impact of the 1985 Adelaide Grand Prix (Burns, Hatch & Mules, 1986). This was followed by an in-depth study of the 1988 Calgary Winter Olympics (Ritchie, 1984;  © The Editorial Board of the Sociological Review 2006 43Chris Gratton, Simon Shibli, and Richard Coleman Ritchie & Aitken, 1984, 1985; Ritchie & Lyons, 1987, 1990; Ritchie & Smith, 1991). Mules and Faulkner (1996) point out that hosting major sports events is not always an unequivocal economic bene? t to the cities that host them. They emphasize that, in general, staging major sports events often results in the city authorities losing money even though the city itself bene? ts greatly in terms of additional spending in the city. They cite the example of the 1994 Brisbane World Masters Games which cost Brisbane A$2. million to put on but generated a massive A$50. 6 million of additional economic activity in the state economy. Mules and Faulkner’s basic point is that it normally requires the public sector to be involved in the role of staging the event and incurring these losses in order to generate the bene? ts to the local economy: This ? nancial structure is common to many special events, and results in the losses alluded to above. It seems unlikely that private operators would be willing to take on the running of such events because of their low chance of breaking even let alone turning a pro? t.The reason why governments host such events and lose taxpayers’ money in the process lies in spillover effects or externalities. (Mules & Faulkner, 1996: 110) It is not a straightforward job, however, to establish a pro? t and loss account for a speci? c event. Major sports events require investment in new sports facilities and often this is paid for in part by central government or even international sports bodies. Thus, some of this investment expenditure represents a net addition to the local economy since the money comes in from outside. Also such facilities remain after the event has ? ished acting as a platform for future activities that can generate additional tourist expenditure (Mules & Faulkner, 1996). Increasingly, sports events are part of a broader strategy aimed at raising the pro? le of a city and therefore succe ss cannot be judged simply on a pro? t and loss basis. Often the attraction of events is linked to a re-imaging process and, in the case of many cities, is invariably linked to strategies of urban regeneration and tourism development (Bianchini & Schengel, 1991; Bramwell, 1995; Loftman & Spirou, 1996; Roche, 1994).Major events if successful have the ability to project a new image and identity for a city. The hosting of major sports events is often justi? ed by the host city in terms of long-term economic and social consequences, directly or indirectly resulting from the staging of the event (Mules & Faulkner, 1996). These effects are primarily justi? ed in economic terms, by estimating the additional expenditure generated in the local economy as the result of the event, in terms of the bene? ts injected from tourism-related activity and the subsequent re-imaging of the city following the success of the event (Roche, 1992).Cities staging major sports events have a unique opportunity to market themselves to the world. Increasing competition between broadcasters to secure broadcasting rights to major sports events has led to a massive escalation in fees for such rights which, in turn, means broadcasters give blanket coverage at peak 44  © The Editorial Board of the Sociological Review 2006 The economic impact of major sports events times for such events, enhancing the marketing bene? ts to the cities that stage them. Methodology The ten events under survey are detailed in Table 1.All but one of them, the 2002 World Snooker Championship (which was a contract for the host city, Shef? eld), were studied as part of a UK Sport funded research project to estimate the economic impact of the events. UK Sport is the body responsible in the UK for a ‘World Class Events Programme’ that supports sports governing bodies in their attempts to bring major sports events to the UK. Financial support is provided from lottery funding for both the bidding process and t he staging of the event if the bid is successful.Two of the events studies (the World Boxing Championships in Belfast, and the World Half-Marathon Championships in Bristol) were joint contracts with both UK Sport and the host cities (ie, Belfast and Bristol). The ten studies featured in this chapter were conducted using essentially the same methodology. This, therefore, provides the added value of having a dataset in which the events are comparable. It is the results of cross event comparability and the issues arising from such comparisons upon which this chapter isTable 1: Major sports events surveyed in the U. K. Year 1997 1997 1997 1998 1999 1999 1999 2001 2001 2002 Event World Badminton Championships European Junior Boxing Championships European Junior Swimming Championships European Short Course Swimming Championships European Show Jumping Championships World Judo Championships World Indoor Climbing Championships World Amateur Boxing Championships World Half Marathon Championsh ips World Snooker Championship Abbreviation WBC EJBC EJSC ESCSC ESJC WJC WICC WABC WHM WSC Host City Glasgow Birmingham Glasgow Shef? ld Hickstead Birmingham Birmingham Belfast Bristol Shef? eld  © The Editorial Board of the Sociological Review 2006 45 Chris Gratton, Simon Shibli, and Richard Coleman primarily concerned. The methodology employed in the economic impact studies was divided into ten stages, which can be summarized as follows: †¢ Quantify the proportion of respondents who live in the host city and those who are from elsewhere; †¢ Group respondents by their role in the event, eg, spectators, competitors, media, of? ials etc; †¢ Establish basic characteristics of visitors, eg, where they live and composition of the party; †¢ Determine the catchment area according to local, regional, national or international respondents; †¢ Quantify the number of visitors staying overnight in the host city and the proportion of these making use of commercial acc ommodation; †¢ Quantify how many nights those using commercial accommodation will stay in the host city and what this accommodation is costing per night; †¢ Quantify for those staying overnight (commercially or otherwise) and day visitors, the daily spend in the host city on six standard expenditure categories; †¢ Quantify what people have budgeted to spend in the host city and for how many people such expenditure is for; †¢ Establish the proportion of people whose main reason for being in the host city is the event; †¢ Determine if any spectators are combining their visit to an event with a holiday in order to estimate any wider economic impacts.Much of this analysis was undertaken using a standard questionnaire survey to interview key interest groups at an event and the data collected was then analysed using a specialist statistical software package and spreadsheets to calculate the additional expenditure in the host economy. Multipliers It is the direct i mpact attributable to additional expenditure that this research concentrated upon, in order to allow for meaningful comparisons between events. That is to say, the comparisons do not include induced impact derived from the application of multipliers to the additional expenditure calculations. To do so would be to compare host economies rather than speci? c events, as multipliers are speci? c to a given economy. Moreover, the information needed to establish a multiplier for a given local economy is not always readily available.As a result, historically, consultants have used highly technical and ambitious multipliers that are not empirically based and are often ‘borrowed’ from other sectors (eg, construction), or other economies. This ‘borrowed’ type of multiplier analysis can be considered only a poor approximation at best and any ? ndings are most likely to be erroneous – not least because the multiplier is unique to the prevailing local economic co nditions and, to reiterate, this type of research is about comparing events and not economies. Most of John Crompton’s criticisms of poor methodology in the carrying out of economic impact studies 46  © The Editorial Board of the Sociological Review 2006 The economic impact of major sports events of major events are related precisely to the incorrect choice or use of multipliers (see Crompton, 1995, 2001). ResultsAbsolute impact Graph 1 details the absolute additional expenditure directly attributable to staging each of the ten events. The most signi? cant economic impact is attributable to the 2002 World Snooker Championship closely followed by the 1997 World Badminton Championships. Both these events took place over a twoweek period and this extended period for the events did lead to higher economic impact. The World Half Marathon Championships was different from the other events in the sense that it did not take place in a stadium or ? xed seating area and there were no tickets sold for spectators. Consequently the crowd at this event has been estimated in conjunction with the local organizing committee, city authority and the police.This estimate of the number of spectators, which has been used to calculate the economic impact, is on the conservative side. In ? ve of the ten events, the additional expenditure generated in the host economies exceeded ? 1. 45 m, which might be termed a ‘major’ impact. Although the majority of the events detailed in Graph 1, however, could be described as ‘major’ in the sporting calendars of those who organize the events, closer inspection of the ? gures reveals that it does not follow that a ‘major event’ in sporting terms necessarily equates with having a ‘major’ economic impact. For example, although the two swimming events, the 1997 Junior Swimming Championships in Glasgow and the European Short Course Swimming Championships in Shef? ld, were both European Champ ionships, they made a relatively small contribution to the economy of the host cities. In a similar manner to the word ‘major’, the words ‘world championships’ do not necessarily mean that there will be a large downstream economic impact. The 1997 World Badminton event generated economic impacts of ? 2. 2 million, whereas the 2001 World Half Marathon and 1999 World Indoor Climbing Championship generated more modest impacts of ? 584,000 and ? 398,000 respectively. Impact per day Although the absolute economic impact attributable to a given event is important in quantifying the overall bene? t that an event might have, it is a somewhat ? wed basis for comparison as the duration of events is invariably different. For example, the World Badminton Championships took place over 14 days and the World Half Marathon was over inside one and a half hours. Thus in order to make a standardised comparison of the economic impact attributable to events it is useful to exam ine the economic impact per day of competition. The results of this analysis are shown in Graph 2.  © The Editorial Board of the Sociological Review 2006 47 Chris Gratton, Simon Shibli, and Richard Coleman ?2,500,000 ? 2,265,092 ? 2,221,130 ?2,196,298 ?2,000,000 ?1,943,715 ?1,500,000 ?1,485,141 ?1,000,000 ?583,942 ? 508,920 ? 500,000 ? 397,921 ? 314,513 ? 257,802 2002 World Snooker 1997 World Badminton 1999 European Show Jumping 1999 World Judo 2001 World 2001 World Half 1997 European 1999 World 1998 European 1997 European Amateur Boxing Marathon Junior Boxing Indoor Climbing Short Course Junior Swimming Swimming Graph 1: Economic impact of ‘major’ sports events. ?700,000 ?600,000 ?583,942 ?500,000 ?485,929 ? 439,260 ?400,000 ?300,000 ?200,000 ?185,643 ? 158,652 ? 133,241 ? 132,640 ? 104,838 ? 64,451 ?100,000 ?56,547 ?- World Half Marathon World Judo European World Amateur World World Snooker World Indoor European European Show Jumping Boxing Badminton Climbing Short Course Junior Swimming Swimming European Junior Boxing Graph 2: Daily economic impact of major sports events. 48  © The Editorial Board of the Sociological Review 2006 The economic impact of major sports eventsIn Graph 2 we see that the events with the highest absolute economic impact, The World Badminton Championships and the World Snooker Championship, are only ? fth and sixth in importance in relation to economic impact per day and it is the World Half Marathon Championship which is most important on this measure, where the daily impact and the absolute impact are identical, closely followed by the World Judo Championships and European ShowJumping Championships. Visitor and organizational spend Generating economic impact is not UK Sport’s rationale for attracting major events to the UK. As previously suggested, however, it is a useful device by which to justify the funding of an event in economic terms.Therefore in order to be able to forecast economic impact it is essen tial to understand the components that create economic impact. In broad terms these can be identi? ed as: †¢ Organizational expenditure, ie, expenditure made directly by the organizers of an event in the locality where the event is taking place. †¢ Competitor or delegation expenditure, ie, expenditure made directly by those taking part in the event and their support staff in the locality where the event is taking place. †¢ Other visitor expenditure ie, expenditure made directly by those people involved with an event other than the organizers and delegations. Other visitor groups include of? cials, media representatives and spectators.In the interest of simplicity the three types of expenditure can be collapsed into two categories, ie, organizational expenditure and visitor expenditure (delegation and other visitor expenditure combined). Using the ten events in the sample, the relative amounts of expenditure attributable to organizational and visitor expenditure can be seen in Graph 3. Graph 3 indicates that for all except one of the events (the European Junior Boxing Championships), the economic impact attributable to organizational expenditure was a minor part of the total economic impact with a highest percentage score of 26% (World Amateur Boxing Championships) and a lowest percentage score of 0% in the European Junior Swimming (not illustrated). The European Junior Boxing Championships was a relatively small event which did not attract signi? cant numbers of spectators.For the events included in this sample, the vast majority of the economic impact (greater than 80%) was caused by visitors and therefore it is logical to concentrate the subsequent secondary analyses on visitor expenditure. The reason why the majority of events in this research have relatively low levels of organizational expenditure is because they were all events that took place within existing facilities and existing infrastructure. There was no need to build or upgrade exi sting facilities and therefore virtually all expenditure incurred by organizers was on revenue items necessary for the operational running of the event.  © The Editorial Board of the Sociological Review 2006 49Chris Gratton, Simon Shibli, and Richard Coleman 100% 7% 7% 8% 9% 10% 12% 13% 26% 90% 80% 52% 70% 60% 50% 40% 30% 48% 20% 10% 0% 93% 93% 92% 91% 90% 88% 87% 74% European Short World Indoor Course Climbing Swimming World Snooker World Judo European Show Jumping World Half World Badminton World Amateur European Junior Marathon Boxing Boxing % Visitor spend % Organisational spend Graph 3: The relative proportions of visitor and organizational spending at major sports events. Visitor expenditure At this point it is worth disaggregating total visitor expenditure into its component parts of spectator, competitor (delegation) expenditure and other visitor expenditure.In 1997 the six events studied were illustrated along a continuum of ‘spectator’ to ‘competitor a nd others’. Using the results of the ten events studied since 1997, this continuum can be upgraded to indicate the composition of visitor expenditure at an event. The revised continuum is shown in Graph 4 and this disaggregates the expenditure of ‘others’ from that of ‘competitors’. From Graph 4 it can be seen that at ? ve of the ten events featured, the majority (at least 51%) of the economic impact can be attributed to spectators and these would be categorized as ‘spectator driven’ events. By contrast, at the remaining events the economic impact was driven by other groups (principally competitors), in particular at the two swimming events.The Short Course and Junior Swimming events are characterized by having large numbers of competitors staying in commercial accommodation and relatively small numbers of spectators (990 and 640 admissions respectively) most of whom are either the friends or families of the competitors; such events are categorized as ‘competitor driven’. 50  © The Editorial Board of the Sociological Review 2006 The economic impact of major sports events 100% 12% 90% 80% 70% 60% 50% 40% 30% 20% 10% 9% 0% World Indoor World Snooker European Show European World Judo Climbing Jumping Junior Boxing Spectator World European Short European World Half World Amateur Junior Marathon Boxing Badminton Course Swimming Swimming Other 8% 9% 4% 13% 28% 6% 15% 22% 12% 24% 10% 19% 28% 35% 36% 33% 44% 40% 81% 78% 74% 72% 56% 66% 51% 43% 37% 32% Competitor/DelegationsGraph 4: The continuum between spectators’ and other visitors’ expenditure. Key determinants of economic impact In order to investigate the relationship between the absolute scale of an economic impact and the number of people who generated it, we now examine economic impact against the total number of spectator admissions as shown in Graph 5. This does not include events which were not staged in stadiums and where the specta tor admissions were approximations, as there were no audience data available (eg, the World Half Marathon). Graph 5 indicates that there is a very high correlation (r = 0. 91) between the number of spectator admissions at an event and the economic impact attributable to that event.Therefore it can be concluded that if economic impact is an important consideration in determining whether or not to support an event, then the number of spectators is the principal determinant of absolute economic impact. As a consequence of this ? nding it can be concluded that in elite level sport (ie, the type of event likely to be supported by UK Sport), ‘competitor driven’ events are unlikely to generate as much economic impact in absolute terms compared with ‘spectator driven’ events. It could be argued that if all or most of the spectators attending an event were local people, then the economic impact attributable to that event would be relatively small as there would be o nly a small net change in the economy ie, most expenditure would be ‘deadweight’. In order to investigate this possibility 51  © The Editorial Board of the Sociological Review 2006Chris Gratton, Simon Shibli, and Richard Coleman ?2,500,000 Correlation coefficient r = 0. 91 Snooker Badminton ? 2,000,000 Show Jumping Judo Economic Impact ?1,500,000 Boxing ?1,000,000 ?500,000 Junior Boxing Indoor Climbing Short Course Swimming Junior Swimming ?0 5000 10000 15000 20000 25000 30000 35000 40000 45000 Spectator Admissions Graph 5: The relationship between spectator admissions and absolute economic impact. further, we examine the relative proportions of local to non-local admissions as detailed in Graph 6. According to Graph 6, there was only one instance of local admissions exceeding those of non-local people: the World Half Marathon Championships.The World Half Marathon had 55% of spectators from the local area. This was a direct result, however, of the Bristol Half Maratho n running alongside the elite event, hence there were many people from Bristol supporting family and friends in the mass participation event. Moreover, of the remaining events, the event organizers at the European Show Jumping and the World Amateur Boxing interfered with the market conditions, in that signi? cant numbers of complimentary tickets were passed to local people in order to increase the attendance at the events. Hence it is reasonable to conclude that the majority of spectators to events come from outside the local area and this therefore con? ms the earlier assertion that absolute economic impact is critically dependent on the number of spectators attending an event – a point emphasized still further when one considers that the correlation between non-local admissions and absolute impact while still high (r = 0. 87), is not as high as the correlation using total spectator admissions. The key points emerging from this initial results section can be summarized as fo llows: †¢ The most appropriate way to compare the economic impact attributable to various events is on an economic impact per day basis; 52  © The Editorial Board of the Sociological Review 2006 The economic impact of major sports events 100% 9% 90% 13% 17% 25% 27% 34% 38% 45% 55% 80% 70% 60% 50% 100% 91% 87% 83% 75% 73% 66% 62% 55% 45% 40% 30% 20% 10% 0% European Junior World Indoor Swimming 990 Climbing 5,444 World Judo 16,000European Short World Snooker European Junior World Amateur World Badminton European Show World Half Course 33,276 Boxing 1,690 Boxing 18,300 21,702 Jumping 40,000 Marathon 15,000 Swimming 640 Visitors Locals Graph 6: The relative proportions of non-local and local spectators at events. †¢ Spectator driven events are likely to have a higher economic impact than competitor driven events; †¢ The key determinant of total economic impact is the number of spectators attending an event; †¢ For most major sporting events, visitors from outside t he immediate area are likely to account for the majority of admissions. Additional bene? ts The Balanced Scorecard approach to event evaluation This ? nal section may interest event organizers and practitioners, as well as social scienti? analysts, in that it acknowledges that the bene? ts associated with events are far reaching and not merely con? ned to economic impacts. This section uses the ‘Balanced Scorecard’ approach to event evaluation (see Figure 1) developed from original work at Harvard Business School. Apart from an event’s economic impact, additional aims and bene? ts might arise in the form of media value linked to coverage at home or internationally. Moreover, linked to such coverage may be place marketing bene? ts for key aspects of the host city or area, which could ultimately impact upon tourism by increasing the number of visitors to the area in future as a result of media coverage afforded to an event.Public perceptions of places can also impr ove as a  © The Editorial Board of the Sociological Review 2006 53 Chris Gratton, Simon Shibli, and Richard Coleman Economic Impact Sports Development Event Aims Media & Sponsor Evaluation Place Marketing Effects Figure 1: The ‘Balanced Scorecard’ approach to evaluating events. result of people’s experiences at major sports events, which in turn might lead to repeat visits as evidenced by qualitative feedback from spectators at some of the events. Furthermore, an immediate bene? t of staging an event might involve some form of sports development impact which could encourage more people to take up a sport being showcased.The long-term effect of any increase in participation could be tracked, although it may be dif? cult to prove causality. To illustrate some of these points, examples are drawn from three events: the European Short Course Swimming Championship, World Amateur Boxing and World Half Marathon. Examples of additional bene? ts Apart from revealing an e conomic impact on Shef? eld of almost ? 315,000, the research into the European Short Course Swimming Championships at the time also audited the public pro? le by analysing the television coverage of the event. In addition to the UK television coverage the event was also shown across Europe in Germany, Finland, Italy and Croatia. Audience data and broadcasts were con? med by the Broadcasters’ Audience Research Board (BARB) and calculations using industry standard methodologies were made relative to: †¢ Percentage Share: The proportion of people watching a given programme expressed as a function of the total number of people watching television at that time. †¢ Television Rating (TVR): This is the key performance indicator of the size of an audience for any given programme. TVR is expressed as the percentage of all the people in a country with access to a television actually watching the programme or programme segment in question. 54  © The Editorial Board of the S ociological Review 2006 The economic impact of major sports events Table 2: Television coverage of the European Short Course Swimming Championships Indicator Number of Programmes Total Duration (Minutes) Cumulative Audience (000s) Highest Share Achieved Highest TVR Achieved UK 6 369 5,451 23. 0% 4. % Other European 12 718 2,522 9. 8% 9. 0% Total 18 1,087 7,973 23. 0% 9. 0% Using the ? ve countries from which the broadcast and audience data were available, the European Short Course Swimming Championships attracted a cumulative audience of 7,973,000 of which 5,451,000 were UK viewers as summarized in Table 2. The data has two practical applications: †¢ For event promoters, in order to acquire a greater appreciation of the commercial value of the event in terms of related advertising and sponsorship sales. Commercial revenues contribute to the operating costs of an event and hence achieving value for money is the key when advertising and sponsorship sales are being made. For host venues, advertisers and sponsors, who can evaluate the return on their investment. For example, the total value of the Shef? eld City Council support of the event was ? 25,000. This can be traded off against the value of the place marketing achieved. Using the data in Table 2, a degree of quantitative evaluation of place marketing can be made. A ‘Shef? eld National City of Sport’ advertising board was on display at pool deck level alongside the advertising board of the main sponsor (Adidas). Using sponsorship industry standard methodology, it is relatively easy to calculate the proportion of the 1,087 broadcast minutes during which the board was on full view promoting the city of Shef? eld.The World Amateur Boxing Championships in Belfast achieved a total cumulative audience of 6. 6 million in the UK, which included 330,000 young people under the age of 16 (ie, potential for a sports development impact). Across 13 programmes (mainly on BBC2), the event was screened for a total of 551 minutes (9 hours 11 minutes), with live feed and highlights screened to more than 20 countries. The UK viewing ? gures peaked at 2. 06 million with the audience share at this point being 22%. Based on analyses of the television coverage using specialist sponsorship evaluations, estimates suggested that a major sponsor enjoyed media exposure worth ? 51,014 in the UK alone.Data such as this provides a sound baseline against which sponsors can assess the extent to which they have achieved a return on  © The Editorial Board of the Sociological Review 2006 55 Chris Gratton, Simon Shibli, and Richard Coleman their investment. In this instance the sponsor invested ? 63,000 and in return they received exposure that would have cost more than ? 51,000 to purchase in the commercial marketplace, ie, 81% of their total investment. In addition to UK television coverage, broadcasters from other countries also bought the rights to screen the event and thus there would be additional media value obtained for the sponsor from this worldwide exposure.Although the worldwide television exposure was not analysed in this instance, it is possible to access the audience data as demonstrated by the European Short Course Swimming Championships example, or alternatively where this is not possible, sponsorship evaluation companies can apply a ‘rate card’ based on a ? at rate for 30 seconds of advertising time on a particular channel. A similar methodology can be adopted in order to estimate the place marketing effects associated with television coverage. At the World Half Marathon, Bristol City Council was responsible for underwriting the event and for a signi? cant proportion of the running costs. In return the place marketing bene? ts linked to the exposure of the ‘Bristol’ brand, amounted to a notional ? 2,000 of exposure. In order to maximize any place marketing bene? ts for a particular location, event organizers should consider working close ly with the host broadcaster in order to ensure the showcasing of key local attractions as the backdrop to human-interest features around the event coverage. Shef? eld City Council used such human interest features (known as ‘postcards’) to great effect during a major snooker event in 2002 such that the combined place marketing effects for the city were a notional ? 3. 2 million, ie, the commercial cost of the exposure created by the event, based on the cost/1000 viewers of a 30 second television commercial.Apart from media value and place marketing, the ‘Balanced Scorecard’ approach also refers to sports development effects and these were analysed during the research at the World Amateur Boxing in Belfast. In the run-up to and during the championships a community development programme with boxer Wayne McCulloch entitled ‘Train with Wayne’ provided young children and potential future champions with the opportunity to become involved in the spor t of boxing. Up to 100 youngsters participated during the televised build up to the Championship. During the event ‘Come and Try It’ sessions were enhanced by concessionary tickets to the event, school visits and discount packages.Furthermore, training for potential young boxers was also strengthened through the involvement of 300 local volunteers in the event, training for technical of? cials, time-keepers, judges, medical personnel and competition managers. This event has therefore left a broad legacy of enhanced skills which maybe used to maintain the impetus provided by the staging of the event. As well as the economic impact attributable to the World Amateur Boxing (? 1. 49 m), the pro? le of Belfast as a city of world-class sport was enhanced through the marketing of the event and the televisual exposure of the ‘Belfast’ brand throughout the world. Collectively, the boxing and the previous success of the World Cross Country Championships provided the catalyst to formulate 56 The Editorial Board of the Sociological Review 2006 The economic impact of major sports events an events strategy for Northern Ireland, designed to help re-image the Province through sport. In summary, given the complex aims and objectives increasingly associated with major sports events, in future more detailed analysis and evaluation will be necessary to satisfy the needs of different partners. Adopting a methodology linked to (for example) the ‘Balanced Scorecard’ could move beyond simple economic impact studies, to include TV, media and sponsorship evaluations as well as sports development, home soil advantage and other legacies. ConclusionsThis chapter has provided a detailed overview of ten economic impact studies undertaken at major sports events, all World or European Championships, in the UK since 1997. Each study represents a value-for-money appraisal of an event, by quantifying the net change in the host economy that is directly attri butable to the event and measurable in cash terms using detailed audit trails. The evidence presented vindicates (in economic terms) the decisions made by UK Sport to use Lottery funding via the World Class Events Programme to attract many of the events. Moreover, the detailed database of event evaluations possessed by UK Sport provides the evidence to inform future strategic decisions relative to the type of events that the UK may consider bidding for in years to come.According to such evidence and in order to maximize potential economic impact, the following should be considered prior to bidding: †¢ The ability of the event to attract people from outside the host area and thereby reduce the ‘deadweight’ percentage of those attending; †¢ Generally the greater the absolute number of spectators the more signi? cant the economic impact and junior events are likely to have the smallest impacts as they rarely attract many spectators; †¢ The economic impact is not necessarily a function of the status of an event in world sporting terms; †¢ The number of days of competition and the availability of local commercial accommodation to allow visitors to extend their dwell times in the host area.Beyond the development of the economic impact model, this chapter has demonstrated how the event evaluations have evolved and should continue to evolve in order to better understand the likely legacies of events long after any medals have been presented. These legacies could be in terms of media value, place marketing effects for the host area, as well as sports development impacts which may stimulate young people to get more involved in sport. The evidence presented above suggests that the European model of attracting major sports events to cities that do not require additional infrastructure investment in order to host the event can generate signi? cant economic bene? ts to the host cities. 57  © The Editorial Board of the Sociological Review 2 006 Chris Gratton, Simon Shibli, and Richard Coleman References Baade, R. A. 1996) ‘Professional sports as catalysts for economic development’, Journal of Urban Affairs 18 (1): 1–17. Baade, R. A. (2003) ‘Evaluating subsidies for professional sports in the United States and Europe: A public sector primer’, Oxford Review of Economic Policy 19 (4): 585–597. Bianchini, F. & Schengel, H. (1991) ‘Re-imagining the city’, in J. Comer and S. Harvey (eds) Enterprise and Heritage: Crosscurrents of National Culture. London: Routledge, 214–234. Bramwell, B. (1995) ‘Event tourism in Shef? eld: A sustainable approach to urban development? ’ Unpublished paper. Shef? eld: Shef? eld Hallam University, Centre for Tourism. Burns, J. P. A. , Hatch, J. H. & Mules, F. J. eds) (1986) The Adelaide Grand Prix: The Impact of a Special Event. Adelaide: The Centre for South Australian Economic Studies. Coates, D. & Humphreys, B. (1999) â⠂¬ËœThe growth of sports franchises, stadiums and arenas’, Journal of Policy Analysis 18 (4): 601–624. Crompton, J. L. (1995) ‘Economic impact analysis of sports facilities and events: eleven sources of misapplication’, Journal of Sport Management 9 (1): 14–35. Crompton, J. L. (2001) ‘Public subsidies to professional team sport facilities in the USA’, in C. Gratton and I. Henry (eds) Sport in the City: The Role of Sport in Economic and Social Regeneration. London: Routledge, 15–34. Getz, D. (1991) Festivals, Special Events, and Tourism.New York: Van Nostrand Reinhold. Hall, C. M. (1992) Hallmark Tourist Events: Impacts, Management and Planning. London: Belhaven Press. Kasimati, E. (2003) ‘Economic aspects and the Summer Olympics: a review of related research’, International Journal of Tourism Research 5: 433–444. Loftman, P. & Spirou, C. (1996) ‘Sports stadiums and urban regeneration: the British and Uni ted States Experience’. Paper to the conference Tourism and Culture: Towards the 21st Century. Durham, September 1996. Mules, T. & Faulkner, B. (1996) ‘An economic perspective on major events’, Tourism Economics 12 (2): pp 107–117. Noll, R. & Zimbalist, A. (eds) (1997) Sports, Jobs & Taxes.Washington, DC: The Brookings Institution. Preuss, H. (2004) The Economics of Staging the Olympics: A Comparison of the Games 1972–2008. Edward Elgar: Cheltenham UK. Ritchie, J. R. B. (1984) ‘Assessing the impact of hallmark event: conceptual and research issues’, Journal of Travel Research 23 (1): 2–11. Ritchie, J. R. B. & Aitken, C. E. (1984) ‘Assessing the impacts of the 1988 Olympic Winter Games: the research program and initial results’, Journal of Travel Research 22 (3): 17–25. Ritchie, J. R. B. & Aitken, C. E. (1985) ‘OLYMPULSE II – evolving resident attitudes towards the 1988 Olympics’, Journal of Travel Research 23 (3): 28–33. Ritchie, J. R. B. & Lyons, M. M. 1987) ‘OLYMPULSE III/IV: a mid term report on resident attitudes concerning the 1988 Olympic Winter Games’, Journal of Travel Research 26 (1): 18–26. Ritchie, J. R. B. & Lyons, M. M. (1990) ‘OLYMPULSE VI: a post-event assessment of resident reaction to the XV Olympic Winter Games’, Journal of Travel Research 28 (3): 14–23. Ritchie, J. R. B. & Smith, B. H. (1991) ‘The impact of a mega event on host region awareness: a longitudinal study’, Journal of Travel Research 30 (1): 3–10. Roche, M. (1992) ‘Mega-event planning and citizenship: problems of rationality and democracy in Shef? eld’s Universiade 1991’, Vrijetijd en Samenleving 10 (4): 47–67. Roche, M. (1994) ‘Mega-events and urban policy’, Annals of Tourism Research 21 (1): 1–19. 58  © The Editorial Board of the Sociological Review 2006

Researsh Essay Example | Topics and Well Written Essays - 750 words

Researsh - Essay Example The law of the land distinguishes criminal guilt and civil liability. This indicates that the two court systems have different expectations from the complainant and the accused persons or organizations. On the other hand, the civil courts require different levels of proofs in order to attract compensation for the victims (Harr 16). Code enforcement officials are liable for all complaints arising from their area of authority. In any instance, enforcement officials are responsible or liable for complaints relating to health, zoning, and building, city planning and business regulation. This indicates that code enforcement officials are in control of both individuals and organization within the region. Therefore, it is possible to be sued either as an individual or as a department. Although most civil cases in Kentucky and other states deal with institutions and organizations, individuals also get involved with civil torts. Code enforcers can be categorized into building inspectors, fire marshals, zoning officials, health inspectors and the police force. Each of these organization focuses on different areas that is of civic interest. According to the stratification of code enforcement officials, it is evident that civil cases or torts concentrate on organizations (Harr 56). On the other hand, code enforcers are mainly organizations. However, this does not rule out the possibility of civil cases that affect individuals. For instance, building inspectors are charged with the responsibility of ensuring that all buildings within the state comply with its building ethics and requirements. Owners of buildings can be both individuals and organizations. On the other hand, construction can be done by construction companies or individual contractors depending on the com plexity of a building. Thus code enforcement official are liable to torts committed by individuals or

Computer sciences and Information technology Essay

Computer sciences and Information technology - Essay Example What functions constitute a complete information security program? Network security administration, responses to incidents,, management of risks, measurement, centralized authentication, system security administration, assessment of legal claims, coaching, susceptibility assessment, testing systems, goals and adherence. What is the typical size of the security staff in a small organization? A medium sized organization? A large organization? A very large organization? The smallest has one fulltime and one or two assistants The second one is medium sized with one fulltime and two or three assistants Thirdly it is the large one with one of two fulltime admins, sixteen assistants and three to four technicians Lastly it is the large size. The large size has twenty full time admins and forty assistants. Where can an organization place the information security unit? Where should (and shouldn’t) it be placed? Different organizations have different locations and cite advantages and dis advantages for each location. The best locations are; insurance and risk management, information technology, legal department, operations or administrative services. Locations not advisable include accounting and finance, internal auditing, security, help desk and facilities management. The chain of command as well as recourse allocation is critical for a working placement.

Historical Developement of Separation of Powers Essay

Historical Developement of Separation of Powers - Essay Example In 17th century England, it emerged for the first time as a coherent theory of government, explicitly set out, and urged as the 'grand secret of liberty and good government'" (Vile, M.J.C.; 1967; Chapter 2). In the upheaval of the Civil War, the doctrine emerged as a response to the need for a new constitutional theory when a system of government based upon "a mixture of King, Lords, and Commons" seemed no longer relevant. "Growing out of the more ancient theory, the doctrine became both a rival to it and a means of broadening and developing it into the 18th century theory of the balanced constitution" (Vile, M.J.C.; 1967; Chapter 2). The revolutionary potentialities of the doctrine were fully realized in America and France, but when its viability as a theory of government was tested "its weaknesses were revealed; this one revolutionary idea could also become a bulwark of conservatism." (Vile, M.J.C.; 1967; Chapter 2) The attack on the doctrine came in two waves: First, the middle class "which had most fervently supported it", now saw within its reach control of political power through extension of the franchise, and the need for a theory that was essentially a challenge to the power of aristocracy diminished; however, until the Second Reform Act in England, the doctrine was sought only to be re-examined (Vile; M.J.C.; 1967; chapter 2). ... Changing ideas about the role of government and its structure were "accompanied by a changing emphasis in ideas about the nature of sovereignty". (Vile, M.J.C.; 1967; Chapter 2). In earlier centuries, the need for a single omnipotent source of power had been stressed by "theorists of absolutism", and rejected by liberal constitutionalists, who swore by division of power and the limitations on power imposed by the constitution or by a higher law. "Rousseau's association of unlimited sovereignty with the people led to reorientation of ideas" (Vile, M.J.C.; 1967; Chapter 2) .If franchise could be restricted to those with a stake in the community, the idea of an unlimited, indivisible sovereign power became for the liberal individualist not a threat but a safeguard; "it became in the hands of Bentham and Austin an instrument for reform of government which would increase the freedom of the individual". However, "the desire for a unified system of government, whether to achieve reform or f or positive State action, led to a rediscovery of the role of discretion and prerogative in government." (Vile, M.J.C.; 1967; Chapter 2) Realization that the functional concepts of the doctrine of separation of powers were inadequate to explain the operations of government was heightened by emerging awareness of the nature of bureaucracy; "the impact of Prussian bureaucracy in the 19th century, establishment of a non-political civil service in England, dissatisfaction with the spoils system in the United States, development of the Weberian theory bureaucracy, (all) led to a reassessment of the 'executive' function". (Vile, M.J.C.; 1967; Chapter 2). Thus the demand for establishment of "harmony" between the legislature and the executive

Effective and efficient use of physical resources in line with Essay

Effective and efficient use of physical resources in line with organizational policies and procedures - Essay Example These possessions call for maintenance to make Aerospace sub-contractors do well in every of their actions and roles (Sicker, 2008 P 206). This also includes assuring security in the employment surroundings and making sure all the apparatus and plant work well and is in solid state. Buildings The Aerospace sub-contractors has resources such as different buildings and facilities for instance they have workplace structures to make certain they appear respectable and expert, their workplace possessions have a contemporary look by a respectable arrival and aerospace sub-contractors . The Aerospace Sub-contractors Company has built-up buildings such as factories to make sure that the company’s items or supply are created to finest value and that the workers are in a safe working atmosphere; it does not have to be well turned-out to the clients because no one but the workforce and employers are certified to stopover the place. The structure is used for machinery use, which is highly developed and supports the personnel. Warehouses Aerospace sub-contractors also have warehouses to maintain their merchandise in a protected site for research to be delivered to clients, the warehouses more often than not deliver substantial hypermarket stores such as; Tesco and Sainsbury's in England since they instruct a lot of the stockpile and add to Aerospace sub-contractors 's income. The warehouses are typically extremely hefty, high stockpile rooms with a lot of capacity, which helps the business use up their amenities intelligently, not wasting assets and funds. The administration also has shops to trade and endorse their Aerospace sub-contractors commodities; also, so that their merchandise could be purchased at any confined outlet for all people the company is aiming to reach. These branches appear well turned-out and friendly for clients to visit and purchase Aerospace sub-contractors products. Museums and education Museums and education centres are as well a component of the Aerospace sub-contractors amenities and buildings to aid the corporation grow and arrive at recognition, they furthermore help the Aerospace sub-contractors audiences gain knowledge of the history and the voyage of Aerospace sub-contractors’s achievements and accomplishment (Ronald, 2002 P. 400). The museums and education centres have to appear respectable and reveal on the Aerospace sub-contractors’s business, also demonstrate understanding about the entire Aerospace sub-contractors business to give surety people they have entered the place to gain knowledge of the company, so they have to encompass diverse show rooms and displays in corridors and foyers. Machinery and plant As Aerospace sub-contractors have assured buildings and apparatus resources, they also contain certain needs of a kind of both plant and machinery. Plant; referring to having a detailed position for manufacturing Aerospace sub-contractors’s produce (where a business or manufacturing procedure takes place) for instance a plant where Aerospace sub-contractors produce their manufactured goods such as rivets, nuts /bolts washers, types of glues, lubricants and depressants, welding gases, welding filler wire, fluxes. Having machinery also saves Aerospace sub-contractors capital and time which means they end up earning more funds. This is because fewer personnel are required and more job share completed at once by a machine, not like a worker, machinery may also be supplementary harmless because it is planned to execute a task on the certain product with negligible support required. Aerospace sub-contractors use up a lot of currency for their factories and immense machinery, but it comes to a vast result and revenue for the company (Air Force, 2003 P

Compare two company Essay Example | Topics and Well Written Essays - 3500 words

Compare two company - Essay Example Charles Boot headed the efforts of company to obtain various government contracts during the war period. It is rather an achievement that 1000 military buildings and over 50 miles of roads were constructed within one year during Great War. During the years 1919 – 1939 inter-war period, Henry Boot built over 80,000 houses which were more than any other contractor in United Kingdom. Henry Boot Plc under the leadership of Charles Boot developed Pinewood Studios at Heatherden Hall, Iver, Buckinghamshire during 1936, which was based on the layout and practice of USA film studio. The company acquired Baldry, Yerburgh and Hutchinson Limited and Flettons Limited and company started to undertake all types of construction work, large and small, both for the public and private sector. Company’s turnover continued to increase in the areas of building and civil engineering which included long term contract for the National Coal Board and British Steel Corporation, railway engineerin g contracting, joinery manufacture and houses for sale. Henry Boot Plc formed subsidiary in the name of Banner Building Society to offer mortgages to general public for commercial and residential properties. The expansion of Henry Boot Plc continued with the acquisition of a foundry in Bingley, West Yorkshire in 1974 and during 1976 the company saw an increase in overseas work initially with the collaboration of Hong Kong based Gammon in supplying and laying the tracks for Mass Transit Railway System followed by  £13 million railway sub-contract on the Kowloon-Canton Railway in Australia. Later, Henry Boot Plc acquired Thos W. Ward (Railway Engineers) Limited of Sandiacre in order to strengthen the group’s railway engineering activity which was followed by the prestigious Queen’s Award for Export Achievement. The company’s core activities are property development, land management, construction and plant hire. Presently Henry Boot Plc is

Unit Plan for English learners Essay Example | Topics and Well Written Essays - 2250 words

Unit Plan for English learners - Essay Example Be able to deal with political issue and to understand how to protect oneself from any political issue The learner should be able to get some English concepts while learning social studies in class Introduce the use of computers in the teaching of social studies Unit objectives By the end of this course the learner should be able to 1. Identify the different types of politics in a given country and to give different countries in the world that use different forms of politics. 2. Identify the different methodologies that can be used to collect data relating to politics and how this can be improved. 3. Identify the different people in the world who have contributed positively and those who have contributed negatively to politics in the world 4. Be able to identify the different themes in journals that they get in class and to explain how each relate with the different politics and how it can be changed 5.Provide a good summary of the things that is learnt in class and how to implement it 6.Be able to present a well written essay about the political scene of the country in good grammar with no grammatical error. 7.Be able to differentiate the different types of citizenship and the roles of international boundaries to the development of the economy of the people in the world as a whole.... 7. Be able to differentiate the different types of citizenship and the roles of international boundaries to the development of the economy of the people in the world as a whole. Fitting the unit to the goals of the subject The main goal of this subject is to teach student to learn how to become responsible people for their country and to know how to make important decisions that pertains to the development of the country. The subject also has the goal of making the learner know how his actions as an individual can affect the whole republic. Apart from the political sides, the learner is also supposed to learn some Basic English concepts. Writing is one of the English concepts that the learner is supposed to grasp from the experience of this writing. Apart from the writing skills the learner should also be able to equip themselves with necessary skills in research work such as the methodology that is to be used in a particular field of study. All these are fulfilled by the study of th is unit. First the objectives of the study ensures that the learner fully understand the political responsibility that he has to fulfill to the nation and what his role to the politics of a nation is. The unit also entails some small research that involves use of different methodologies to find out more about the research thesis. By this the unit is able to achieve one of its major goals which are to enhance the learner to be able to identify the different methodologies that are used in a particular subject. Writing skills is also a goal that is achieved as the learner is able to get some writing skills from the unit. Student characteristics Most of the learners in this class have English as their first language

Consumer bahaviour Essay Example | Topics and Well Written Essays - 2500 words

Consumer bahaviour - Essay Example The research was conducted on Thursday and Friday, in the afternoon and the evenings of the weekend. The reason for research at Gucci is simple, had we chosen a common store, we would have made numerous efforts to judge people as it is hard to find differences in people's behaviour at a lower level, but at Gucci, a particular society enters to buy the expensive items, so it is a lot of fun to measure how they look for something and what particular thing about Gucci changes their facial expressions. The place is excellent for people who prefer to stay fashionable and who have got the buying power. The store does not cater every one as its target audience but those who can really afford the high prices, further once the customer enters, the staff prefers to look at the customer from top to bottom but it has got its own charm. It is important to describe the outlook of the store first. The store seems to be transparent as there is just a glass with an entrance door, upon entering the sh elves are carrying bags straight ahead. People do complain about the staff as the staff is really rude especially if it sees that the customer does not look like an interested buyer but nevertheless the staff greets upon entrance. The atmosphere within the store is absolutely wonderful as it seems that there is no one near you due to silence. It seems that thousands have been invested in the interior of the shop but the figure could also be a million. A General View on Consumer Behaviour: Lifestyles emerge from various social influences. They are also derived from the individual's personal value system and personality. Marketers need to study the way consumers live and spend their money as well as how they make purchase decisions (Holbrook: 1999). For example, blue jeans may serve as inexpensive, functional clothing to bluecollar workers, but as fashionable, self-expressive apparel to upperclass members. Credit cards may be used as a convenience for the affluent, while others use them as a basis for installment purchases since balances are not paid off immediately. Decisions emanating from lifestyles are learned as the result of many influences such as culture, subcultures, social class, reference groups, and family (Beckman, William: 1967). Activities, interests, and opinions reflect how consumers spend their time and their beliefs on various social, economic, and political issues. When understood by marketers, these variables ca n help reduce risk in the decision-making process. At Gucci, people prefer to buy those materials that involve less risk and are long lasting, however the brand name itself is a guarantee that no matter what the customer buys would be long lasting and fashionable. So it is fair to say that perception plays a major part in the answer to perceived risk of purchasing a product or service. Perceived risk represents the anxieties felt because the buyer cannot anticipate the results of a purchase. A number of different strategies may be used to reduce risk. First, perceived risk can be reduced by a prepurchase information search, by decreasing the probability of failure. Second, the buyer can shift from one type of perceived risk to another type that is of less impact on the realisation of

Fast Food Nation Essay Example for Free

Fast Food Nation Essay The idea of â€Å"fast food† has been around since before the 1920s. However, the real emergence of the industry was not until the late 1940s following the Second World War. Military based towns were desolate during the war. Once the war was over, there were many more mouths to feed and more places to put restaurant franchises. This coupled with the passing of Eisenhower’s Interstate Highway Act and the sheer drive of fast food pioneers allowed franchising to be very successful. People were able to take their new cars on the highway and take convenient off-ramps to â€Å"speedee service† restaurants (Schlosser, 20). Ray Kroc, founder of the McDonald’s corporation, has created a revolutionary franchise that has become a household name all over the world. There are many theories on how this and other fast food corporations reached such success. One of the major reasons is the strategic segmentation of the human race; groups of people have been targeted as prime consumers of fast food. To consume, by definition, is to purchase goods for one’s own desires. The fast food industry has become just that, a desire to people of all statuses in society. In Eric Schlosser’s Fast Food Nation, the impact that the fast food industry has on children, parents and the foreign population as consumers is arguably detrimental in its use for economic success. The fast food industry targets many demographic groups in our society. Children are subjected to the billion dollar advertising campaigns that fast food restaurants create. Kids are enticed to purchase fast food before they can even earn money. This is where the industry makes their killing; by advertising to young children, parents are pressured to buy goods from the fast food restaurants. It’s not just getting kids to whine. It’s about giving them a specific reason to ask for the product† (Schlosser, 43). Although it is not the children specifically giving the cashier money for products, they have the tremendous power of leverage with their parents. Starting with a broad look: the restaurants themselves often times have a play area for children, McDonald’s being most notable for this. They create characters, such as Ronald McDonald and friends, to make kids feel like they are in a fun house or that the restaurant truly cares about each child. Taco bell’s chihuahua was a â€Å"cute† puppy for kids to love as well (Schlosser, 43). Kid’s meals in most fast food places are served with toys to play with. Fast food corporations began the process of synergy; they were signing with other major businesses to put popular toys in their meals. For example, Wendy’s signed with NCAA for action figures, McDonald’s signed with Ty for Beanie Babies and Pokemon cards (Schlosser, 47). When children found competition with other children to â€Å"get the next toy first,† there was a reason to come back to that restaurant. Even the color scheme on the packaging the meals come in is bright and exciting. Why would any child say no? The parents of these children and teens are also affected by the fast food industry. As previously mentioned, children pressure their parents to buy goods from fast food chains. Parents consume these goods for themselves but also represent their children, which makes up an entirely different consumer group. Fast food caters to those parents who are short on time, money or both. Parents who work long or unusual hours can count on a nearby fast food restaurant being open at all hours. Even when families are constantly on the move, a drive-thru is a quick and easier way to eat than making a meal at home or sitting down in a restaurant. In addition, parents who struggle with every penny they have can buy their family meals for a fraction of alternative options. McDonald’s company historian says, â€Å"Working-class families could now afford to feed their kids restaurant food† (Schlosser, 20). Parents want to give their children the best; being financially able to take them to restaurants is a value that could now easily be attained with the emergence of the fast-food industry. Fast food chains have expanded beyond American borders for potential growth. McDonalds alone has over seventeen thousand restaurants in over 120 countries globally. That number does not include KFC, Pizza Hut, Burger King or Domino’s Pizza. They all receive a majority of their profit through overseas markets. Fast food chains symbolize Western economies and therefore, seen as the channel to economic prosperity in countries that are struggling (Schlosser, 229). Natives of Kuwait, Saudi Arabia and countless other nations literally lined up for hours outside of brand new fast food franchises to purchase American food (Schlosser, 230). The billionaire responsible for bringing McDonald’s to Japan went as far as saying that eating their hamburgers would make them white, blonde and taller in stature (Schlosser, 231). The campaign to Americanize the world is more overwhelming now with people in every corner of the globe spending their money on American fast food. The saying â€Å"you are what you eat† is heavily campaigned outside of the United States. People are consuming KFC, Burger King, Pizza Hut and McDonald’s food in hopes to become more like Americans. After reading Fast Food Nation and analyzing this specific aspect of the fast food industry, I am able to form my own opinion. My first and foremost reaction to all of this is about health issues. There is a huge problem with feeding children food that is lacking in the nutrients necessary to grow and reach their highest potential in the future. Parents are feeding their children fast food but what were they [parents] fed as children? There was a lot more emphasis on home-cooked meals and the family sitting down for dinner every night back when today’s parents were growing up. Children are drinking sodas, eating processed hamburgers and other greasy foods without any previous knowledge to make that decision. They are not taught about nutrition and what they are really putting in their bodies before nagging their parents to get the latest toy in a happy meal, as an example. The most important years in a person’s life should be sustained with the best nutrients possible. I know that personally, my mother cooked a majority of my meals growing up and having fast food was a treat. Now I can make educated decisions on what foods to consume. I think that anything in moderation is acceptable; it is the families that get a different fast food meal four or five times a week that concern me. Along the same lines, parents are not setting the right examples for their children when they stop at the local drive-thru to grab dinner. There must be a balance between stimulating economies and sustaining healthy lives of all ages. In Fast Food Nation, Eric Schlosser describes children, parents and people living outside of American borders as targeted consumers by the fast-food industry. Kids are subjected to advertisements and several other ploys so that they will coerce their parents to buy them products from fast-food restaurants. Because they are such a large influence on the consumption of fast food, they are directly targeted as consumers. The parents are affected both indirectly and directly as consumers; they consume fast food for themselves and their children. Fast-food chains have made it convenient for parents who work atypical hours and those who cannot afford other meal options. With the success of the fast-food industry in America, corporations have moved their efforts to international patrons. Fast food has become a major symbol of Western living and is highly desirable to many foreign nations. The consumers’ love of fast food proves economic success, but does it show success in other aspects of human life? People have become so accustomed to purchasing fast-food meals that the entire standard of nutrition and healthy living has gone down; we truly are a fast food nation.

Effects of Diet and Exercise on the Human Body

Effects of Diet and Exercise on the Human Body How to Maintain a Healthy Body How do we maintain a healthy body? To look at this we need to first decide what health means. The World Health Organisation (WHO) has defined health as a state of complete physical, mental and social well-being, and not merely the absence of disease or infirmity.1 If this is the case then having a healthy diet may not mean that we have a healthy body. We also need to take into account that how we look at health has changed dramatically over the years. For example in the 17th Century the major factor of health was things like the bubonic plague due to fleas on rats. Today we have to worry about things like obesity and swine flu. I am going to look at numerous factors which contribute to a healthy body. I am going to look at diet, exercise and social factors, all of which I believe can contribute to maintaining a healthy body. Firstly I am going to look at the effects diet has on our body. For humans to survive we need food, however, we need certain types of food and we need to eat a balanced diet to have a healthy body. The foods we should be consuming to have a healthy balanced diet are; proteins, fats and oils, carbohydrates, minerals, vitamins, fibre and water. We need each of these food groups for a certain reason. For example we need protein to help our body repair itself, we need carbohydrates as these are broken down into simple sugars like glucose which is the primary source of energy for the brain, and we need iron to form red blood cells which carry oxygen round the body. If we eat less or more of these than we require this may cause problems for our body making us unhealthy. It is typically known that a diet high in fruit and vegetables is good for our body, however it is not widely known that if we have a diet lacking in these that it can be very damaging to our body. The WHO estimates that 2. 7 million deaths are attributed to a diet low in fruit and vegetables every year2. If we have an unhealthy diet this can cause a number of chronic diseases including: high blood pressure, diabetes, obesity and cancer2. Each of these diseases can affect a persons quality of life and also can reduce a persons life expectancy. If we have an unhealthy diet this can cause many problems both for now and in the future, for example, if we eat too much sugar this can give us tooth decay which means we have an unhealthy mouth, and if we have too much salt then over time this can build up and cause us to have high blood pressure which can be potentially fatal. The WHO classes anyone that is 30% or more overweight to be obese. If we are obese then this can greatly lower our life expectancy and also our quality of life. If someone is overweight they do not have a healthy body and our likely also to not have a healthy mind. I now want to look at how exercise can help us to maintain a healthy body. There are many benefits of exercise both for our bodies and our mental health. The benefits of exercise on our bodies include; preventing heart disease, can reduce high blood pressure and can prevent diabetes. The benefits of exercise for our mental health include; helping to relieve stress, helping to reduce the symptoms of depression and helping to relieve sleeping problems. If someone is stressed or has had a bad day which has affected their mood then going out for a walk can be very beneficial to them. It has been proven that any aerobic exercise releases a mood altering substance called endorphins. Endorphins have been proven to improve our mood and also reduce levels of stress3. Now I am going to look at how social factors can affect whether or not we have a healthy body. Social factors include; our social status, area we live, and outside influences. Social factors can play a large role in how we maintain our bodies. In todays society it can be quite expensive to live healthy, the price of fresh and healthy foods are often more expensive than cheap processed foods. If someone doesnt have a lot of money and doesnt earn a lot then they are more likely to go for the cheaper version which is what they can afford. This then affects their health as processed foods tend to have more of the things that are bad for us in them. Also if someone is classed as poor they are more likely to live in an area where there is more pollution and less focus on health. This may have a huge impact on whether they have a healthy body or not. In conclusion having a healthy body can not be accomplished by merely eating healthy. There are many factors to consider when we are trying to maintain a healthy body. If we want to be healthy then we must take into account what health means; a state of complete physical, mental and social well-being, and not merely the absence of disease or infirmity.1 Therefore we must have a healthy diet, exercise and make sure that we take care of our mental health. In todays society it is harder than ever to maintain a healthy body with all the outside influences like drugs and alcohol. However if we want to be healthy then we must at least try to lead a healthy lifestyle and take care of our bodies and minds as we only have one. References Given, P. and Reiss, M. Human Biology and Health Studies, 2nd Edition, (2002), Nelson Thornes LTD, Cheltenham, UK, ISBN 0-17-490060-0 World Health Organisation (WHO), Diet and physical activity: a public health priority, http://www.who.int/dietphysicalactivity/en/ Donnellan, C. (ed) How fit are we? Issues, (2000), Independence Publishers, Cambridge, UK, ISBN 1-86168-120-8 Encyclopedia, Endorphins facts and information, http://www.encyclopedia.com/topic/endorphins.aspx Medical News Today, What is health? What does good health mean?, http://www.medicalnewstoday.com/articles/150999.php

Saving Free Speech -- Harassment Freedom Rights Essays

Saving Free Speech It's difficult to imagine America as a country that tolerates open discrimination and harassment of people of different race or ethnicity. Yet, somehow it is also difficult to imagine America without considering its history scarred by racial intolerance and subjugation. It's strange how a country that was supposedly founded on the fundamental assertion that all people are created equal and have the basic right to freedom from oppression continues to deal with these problems. Racial and ethnic harassment has even spread to this country's institutions of higher learning. Iowa State University is not immune to this epidemic. Consider the following incident, which occurred as recently as fall of 2003, as described in the Iowa State Daily on November 5 by columnist Amy Peet. A certain individual of the ethnic minority found her room ransacked and vandalized. Hateful notes and phone calls were left in her dorm room, and there were "phantom knocks" on her door. This person and her close friends genuinely felt disturbed, angered, and threatened. This incident is only one example; several such cases have occurred at Iowa State and other institutions across the country. The argument concerning such cases focuses on the right to free speech guaranteed to every American citizen by the First Amendment. Our Bill of Rights guarantees each person the opportunity to voice his or her own opinions without repression from the executive powers. But is it still considered `free speech' if the things that are said are meant to cause harm, discomfort, or to threaten? Does the First Amendment still protect those who would use words to such a malicious end? In an effort to deal with the rising number of claims of verbal... ...done when words are spoken. The policy on harassment becomes effective only when those mere words become actual, physical actions that place the victim in danger or institute genuine fear and discomfort. The regulation of hate speech, therefore, does not represent an infringement on the First Amendment guarantee to freedom of speech. Rather, it ensures that open, intellectual dialogue can take place in universities where hate speech has continued to become a stronger and more malignant force. Incidents of harassment and abuse are capable of being dealt with in a manner that is fair and consistent with the doctrines enshrined in the First Amendment. The enforcement of Iowa State's policy on racial and ethnic harassment is a set of principles that need to be followed in order to maintain the atmosphere of education and equal opportunity this institution represents.

Male and Female Relationships in Generation Y Essay -- Sex Abstinence

Male and Female Relationships in Generation Y Sexual relationships among teenagers today involve not only dating and sexual activity, but also health and lifestyle issues such as sexually transmitted diseases and unwanted pregnancies. Today’s teens are more informed and willing to practice safe sex than previous generations. As a whole, trends like body piercing for sexual pleasure all the way to strict abstinence have been adopted by Generation Y youth (Codrington). Where did it all begin? Heterosexual relationships have existed from the beginning of time, when the God of Christianity created Adam and Eve. Since that time relationships among heterosexual partners have continued to evolve. Instead of fathers arranging to give away their daughters to deserving men, people in America today now chose who they want to have relationships with. Dating and the Attractive Partner Sexual relationships usually begin with dating. Dating is the time when two people get to know each other and a time when they start to consider if they can have a long-term relationship. For today’s teens the new trend in dating is dating in groups of four, six, or even ten people (Stapinski). Even with this new trend however, the men are still asking the woman out. According to Leland Elliott and Cynthia Brantley, authors of Sex on Campus, 77 % of college boys still ask for the first date, while a mere 16 % of college woman take charge (49). Also, most college students (76 %) date only one person at a time. What do both men and woman look for in the opposite sex? If a woman were to answer for a man, most would probably list physical attributes such as eyes, smile, butt, and breasts, but the truth is that the number one thing a man l... ...girls in Jeopardy.† Human Ecology Forum Summer 1997:12+. * Pseudonym, to protect privacy 1 â€Å"Founded in 1916, world’s largest and oldest voluntary family planning organization. It is dedicated to the principles that every individual has a fundamental right to decide when or whether to have a child and that every child should be loved.† (www.plannedparenthood.com) 2 The condom concept dates back to 1350 B.C. when ancient Egyptians figured covering the penis might prevent pregnancy†¦Vulcanized rubber made an appearance as condom material in the mid 1800s. ( Sex on Campus 1997). â€Å"The Trojan brand has been a leader in providing videos and teaching guides for use in high school health education classes across the United States.† (Vogel 33). 3 HIV is an abbreviation for â€Å"Human Immunodeficiency Virus.† This virus is what causes AIDS ( Sex on Campus 1997).

Emergence of Venture Capital in Western Europe vs the United States :: essays research papers fc

Emergence of Venture Capital in Western Europe vs the United States Table of contents 1 Introduction   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  1 2 The nature of venture capital  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  2   Ã‚  Ã‚  Ã‚  Ã‚  2.1 Definition of venture capital  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  2   Ã‚  Ã‚  Ã‚  Ã‚  2.2 (Ad)venturers of the past  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  2   Ã‚  Ã‚  Ã‚  Ã‚  2.3 How venture capital works  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  3   Ã‚  Ã‚  Ã‚  Ã‚  2.4 For innovation a vehicle is needed  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  4   Ã‚  Ã‚  Ã‚  Ã‚  2.5 Venture capital helps create vehicles for innovation  Ã‚  Ã‚  Ã‚  Ã‚  4   Ã‚  Ã‚  Ã‚  Ã‚  2.6 Realization of financial returns  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  5 3 Screening and evaluation process  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  6   Ã‚  Ã‚  Ã‚  Ã‚  3.1 Strategies and objectives of venture capitalists  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  6   Ã‚  Ã‚  Ã‚  Ã‚  3.2 Screening and decision making process  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  6   Ã‚  Ã‚  Ã‚  Ã‚  3.3 Decision to invest  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  8   Ã‚  Ã‚  Ã‚  Ã‚  3.4 Deal structuring  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  9 4 The development of venture capital in Western Europe  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  10   Ã‚  Ã‚  Ã‚  Ã‚  4.1 General  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  10   Ã‚  Ã‚  Ã‚  Ã‚  4.2 Environmental factors influencing innovation  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  11 5 Interview  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  17 6 Conclusion  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  20 Bibliography  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  21 1 Introduction The phenomenon that is now called venture capital developed after World War II in the United States. Many returning soldiers were unwilling to take back their old jobs and started out on their own. Moreover the war had produced many technological innovations and ideas that could be put to civilian use. Facilities and machines used in the war production had become unnecessary and were often available at bargain prices. The post war economy expanded fast and offered many business opportunities. It was in this environment that many new enterprises started and needed capital. The first European venture capitalists appeared in the 60’s following the U.S.A. example. In the 80’s the venture capital industry in Europe had reached a level comparable to this industry in the United States during the 50’s (Bygrave, and Timmons, 1992). The purpose of this paper is to explain why the venture capital industry in Western Europe has developed so many years later than in the United States. In chapter two the nature of venture capital will be discussed. The definition and the history of venture capital will be given and how venture capital works will be discussed. For a better understanding of venture capital, in chapter three, the screening and evaluation process to analyse investment possibilities and to take investment decisions will be discussed. In chapter four, the factors influencing the development of venture capital and the causes of the later development of the industry in Western Europe will be explained. Also a brief summary is given of venture capital today in Western Europe based on an interview with a venture capitalist. In chapter five an interview with a venture capitalist about the changes in venture capital in the Netherlands is given. Finally, in chapter six a summary of the paper will be given. 2 The nature of venture capital 2.1 Definition of venture capital Dictionaries describe ‘venture’ as an undertaking that is dangerous, daring, and of uncertain outcome. At a venture means at stake. Emergence of Venture Capital in Western Europe vs the United States :: essays research papers fc Emergence of Venture Capital in Western Europe vs the United States Table of contents 1 Introduction   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  1 2 The nature of venture capital  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  2   Ã‚  Ã‚  Ã‚  Ã‚  2.1 Definition of venture capital  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  2   Ã‚  Ã‚  Ã‚  Ã‚  2.2 (Ad)venturers of the past  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  2   Ã‚  Ã‚  Ã‚  Ã‚  2.3 How venture capital works  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  3   Ã‚  Ã‚  Ã‚  Ã‚  2.4 For innovation a vehicle is needed  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  4   Ã‚  Ã‚  Ã‚  Ã‚  2.5 Venture capital helps create vehicles for innovation  Ã‚  Ã‚  Ã‚  Ã‚  4   Ã‚  Ã‚  Ã‚  Ã‚  2.6 Realization of financial returns  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  5 3 Screening and evaluation process  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  6   Ã‚  Ã‚  Ã‚  Ã‚  3.1 Strategies and objectives of venture capitalists  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  6   Ã‚  Ã‚  Ã‚  Ã‚  3.2 Screening and decision making process  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  6   Ã‚  Ã‚  Ã‚  Ã‚  3.3 Decision to invest  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  8   Ã‚  Ã‚  Ã‚  Ã‚  3.4 Deal structuring  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  9 4 The development of venture capital in Western Europe  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  10   Ã‚  Ã‚  Ã‚  Ã‚  4.1 General  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  10   Ã‚  Ã‚  Ã‚  Ã‚  4.2 Environmental factors influencing innovation  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  11 5 Interview  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  17 6 Conclusion  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  20 Bibliography  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  21 1 Introduction The phenomenon that is now called venture capital developed after World War II in the United States. Many returning soldiers were unwilling to take back their old jobs and started out on their own. Moreover the war had produced many technological innovations and ideas that could be put to civilian use. Facilities and machines used in the war production had become unnecessary and were often available at bargain prices. The post war economy expanded fast and offered many business opportunities. It was in this environment that many new enterprises started and needed capital. The first European venture capitalists appeared in the 60’s following the U.S.A. example. In the 80’s the venture capital industry in Europe had reached a level comparable to this industry in the United States during the 50’s (Bygrave, and Timmons, 1992). The purpose of this paper is to explain why the venture capital industry in Western Europe has developed so many years later than in the United States. In chapter two the nature of venture capital will be discussed. The definition and the history of venture capital will be given and how venture capital works will be discussed. For a better understanding of venture capital, in chapter three, the screening and evaluation process to analyse investment possibilities and to take investment decisions will be discussed. In chapter four, the factors influencing the development of venture capital and the causes of the later development of the industry in Western Europe will be explained. Also a brief summary is given of venture capital today in Western Europe based on an interview with a venture capitalist. In chapter five an interview with a venture capitalist about the changes in venture capital in the Netherlands is given. Finally, in chapter six a summary of the paper will be given. 2 The nature of venture capital 2.1 Definition of venture capital Dictionaries describe ‘venture’ as an undertaking that is dangerous, daring, and of uncertain outcome. At a venture means at stake.

Cross Cultural Communication- Royal Dutch Shell’s Approach Essay

Shell has over 100 different nationalities in its employee population. In a global organization like Shell, people need to constantly work with people from other nationalities as part of expatriate assignments. We had a candid interaction with company’s global learning head Manojit Sen. We are elucidating few interesting points from the discussion. Global organisations like Royal Dutch Shell face the constant challenge of cross cultural communication both when dealing with external customer as well as in dealing with colleagues internally. Some of these are: Failure to Bond: Experience over years shows that customers like doing business who are like them. Equally Sales staff unconsciously look to do business with people they like and stay away from those they don’t like and bond with. The more pronounced the differences between two people, the slower the bonding process may be, especially if nothing is done to bridge the gap such as teaching people to communicate like à ¢â‚¬Ëœone of them’. Hence the fate of multi billion dollar deals in oil majors such as Shell may often be tested on the strength of the ‘liking’ factor. Stereotyping: Even with the best education, almost everyone consciously or unconsciously holds onto some unfair generalizations about a given group. Recognizing and overcoming negative beliefs that we may have had since childhood can be challenging. These generalizations come in the way of truly listening to views and building on the best of ideas which have the potential to take the organization forward. Assuming the same values: We all assume everyone shares the same values we do. This leads to judgments of what is right and wrong, acceptable and unacceptable. When the values are not actually the same, actions one party takes does not meet the expectations of the other leading to frustration, attribution of intent and breakdown of trust. â€Å"Token† syndrome: In big multinationals where consciously the numbers of different minority groups have been increased over the years, people from underrepresented groups may sometimes feel that they are in the spotlight due to their low numbers. Since their difference tends to make them stand out, they may believe that they receive unfair scrutiny. As a result, they may fear making mistakes or being perceived as receiving special treatment. â€Å"Protective Hesitation†: The cultural differences between a staff and his customer or colleagues from another  culture may lead both parties to view their relationship as less solid than other relationships with people from the same culture. To overcome this, people may tend to overcompensate and then fear that the response may appear to be ‘too cosy’ and subject to criticism. Making mistakes: Whether or not staff have had a lot of experience working with people from the customer’s or colleague demographic if it from a different culture, he may inadvertently say or do something that the customer or colleague finds offensive. It’s a lot easier to get past mistakes if both parties believe that the two have the same values and mindset. Cases where these type of issues have resulted in problems and ways in which these were handled include: 1. A Dutch project manager used to straight talking posted in UK’s North Sea Joint Venture upstream project upset the staff by telling them off on a few occasions to the point that the JV agreement was getting close to being called off. The Dutch manager had to be replaced despite his strong technical credentials and subsequent appointees were put through cultural awareness training before being sent off to this and similar JVs. 2. An Australian posted in India’s new retail operations to set up the Health, Safety, Security and Environment department was so frustrated by vendors promising to do everything and not meeting quality and timeline issues that he started to call them ‘liars’ on the face, alienating himself from the few vendors who were able to meet the quality specs of Shell. This disrespectful behavior and loss of face resulted in vendors refusing to work for Shell and consequent delays in commissioning of retail stations by over a couple of months, a stalemate that had to be broken by skillful negotiations by local managers. 3. In a virtual cross country project team working on implementation of a Retail network project months in China that had to deliver its implementation plan within 3 months, would have its team meeting every week. From the start the Chinese staff on the team were quiet. The Americans spoke the most. They believed they were contributing and the Chinese were not. It emerged after 8 weeks when a milestone was missed that the Chinese could not understand a lot of what the Americans were saying, let alone their jokes. The team lead was prompt to realize this  was a sign of impending disaster and promptly made official rules on talking time at each meeting so that everyone had his time, including time to ask clarifications and to recap what each understood. 4. A Danish IT staff was on a global SAP implementation project. Since she was reporting to a Singaporean manager, she would have to take calls early her morning. Sometimes she would have to join calls with US colleagues working on implementation issues. With work life balance being a very important aspect of the Nordic culture, she was direct about how she felt on a number of occasions. The manager had given her the flexibility to take time off during the day to make up for this but somehow this did not help and the Danish lady started missing calls and issues did not get addressed in time. She also did not check emails or even phone messages during the weekends. Issues started to get escalated and reached the point where the vendors implementing the ERP charged Shell for delayed decisions leading to having to rework project plans and consequent costs and delays. This became a performance issue that required the staff to be replaced by someone who was much more flexible – something that was needed during this critical stretch period. 5. The Shell team negotiating a significant gas deal in Middle East included only Europeans. The local Middle East team felt more comfortable with the American- Saudi Aramco team as it had more Middle Easteners. This was recognized in time and Shell’s team was revamped to include a few ‘local’ faces who could help break the ice and guage the local sentiments. With issues such as these multinational organisations need to work on many cross cultural issues which impact communication internally and externally. The are typically managed via the Diversity and Inclusion agenda. In Shell, the D&I agenda includes:   D&I education offerings.   Communication processes in the profiling of success stories and the sharing of good practices. Recruitment and retention efforts that focus on tapping into the top talent across diverse constituency groups. Development and mentoring of diverse staff from across the world. Building supportive/inclusive work environments. D&I  education: Shell has over 100 different nationalities in its employee population. In a global organization like Shell, people need to constantly work with people from other nationalities as part of expatriate assignments, or as part of x-country projects or as part of one’s role which may be global or regional in scope. Hence educating staff on nationality related cross cultural issues is an ongoing activity in Shell. Staff who get posted as expatriates to a foreign country are taken through cultural awareness sessions on the new country culture. They are also sponsored to learn the local language to help assimilate better. Staff put on x-country assignments are also helped with cultural awareness sessions so that they can understand what colleagues from other countries mean by what they say and by what they don’t. Supervisors who have from different countries are also encouraged to understand the cultural differences of countries of these staff. The Crossing Cultures course in Shell is designed to help people value differences and improve team working skills. The course aims to enable business and function staff to develop their cross cultural skills and to work more effectively, with virtual and multi cultural teams. Participants are expected to: Improve their sensitivity to others’ different needs and behaviours and adjusts own behaviours and communication style accordingly. Invites, respects and incorporates others’ different perspectives. Demonstrates a non-judgemental acceptance of different perspectives, behaviours and ways of working. Utilises cultural differences to improve outcomes. Actively supports efforts to build a more diverse and inclusive organisation. This course consists of a structured program of face-to-face and virtual learning, combined with workplace assignments and activities, knowledge sharing and networking. The course totals 16 hours; 8 hours virtual over 4 weeks and with a 1 day face to face in week 6 of the program.