Marketing challenges about hotel industries in Cyclades island Essay

Marketing challenges about hotel industries in Cyclades island - Essay Example The subject deals with the point of view of two broad streams of knowledge – economy, and, marketing, with a heavier inclination towards challenges in tourism marketing in general, and, towards the Cyclades Islands in particular. Business Week in one of its articles asked â€Å"What a poor country to do?†, and said, â€Å"Ask the average economist how a country can lift itself out of poverty, and the answer will be simple: Educate your populace, squelch inflation, open your economy to free trade and investment, and then sit back and watch gross domestic product soar† (businessweek.com, 1997). True to its assertions, it is not that simple. Many poor economies, especially those dependent on tourism have made a mistake in relation to this. Greece’ ascension to the EU could do no miracles, and now talk of leaving the Eurozone is back in the air, though the majority of Greeks do not approve this(Wall St. News, 2011). As Theodore Levitt pointed out back in 1960 in his famous article Marketing Myopia, â€Å"Every major industry was once a growth industry. But some that are now riding a wave of growth enthusiasm are very much in the shadow of decline. Others which are thought of as seasoned growth industries have actually stopped growing. In every case the reason growth is threatened, slowed, or stopped is not because the market is saturated. It is because there has been a failure of management.† Levitt (1975) in his classic railroad example argued that today the railroads which were once a craze in the U.S. have been replaced by a developed transport system. He describes this as a trend wherein people were convinced that they were not a part of the transportation business as â€Å"they presumed themselves to be in the railroad business.† Then he further explains that they believed this to be a development that was â€Å"railroad-oriented instead of transportation oriented; they were product-oriented instead of customer-orient ed† (Levitt, 1960). Even after more than five decades, Levitt’s arguments appear to be as valid and relevant as they were then, in all industries, and in all parts of the world. The hotel industry in the Cyclades Islands is no different. Therefore, as in the railroad case, the problem is not with the railroads, but with its understanding about its own fundamentals, in what business it was. In relation to this the fundamentals, the present review of literatures will try to answer the research question â€Å"what are the marketing challenges for the hotel industry in the Cyclades Islands†. The review will first shed light on the nature and characteristics of service industries, followed by a study of the marketing challenges in them. It will subsequently make a review of what researchers say about the marketing cha

Aggregate Demand and Supply Models Essay Example | Topics and Well Written Essays - 250 words

Aggregate Demand and Supply Models - Essay Example A change in the rate of unemployment will hence result to a change in the demand and supply hence affecting the equilibrium market. People form expectations about prices; quantity supplied and inflation based on previous information. If individuals expect a shortage of goods, they will increase demand to store the goods for the scarce season. Sellers will however hold the goods and hence reduce supply since they anticipate increased costs during the scarce period. The same happens in case the customers and sellers expect an increase in prices (Tucker, 2010). Use of past information to form expectations is not efficient as it may result to wrong predictions hence affecting the equilibrium market negatively. Unemployment and expectations hence affect the aggregate equilibrium between supply and demand. The government should, therefore, develop measures to influence this non-price factors affecting demand. The economy will hence operate at equilibrium by avoiding surpluses or

Internal Combustion And Diesel Engines Engineering Essay

Internal Combustion And Diesel Engines Engineering Essay Since the time when the internal combustion engines were devised, it continued to develop as our cognition of engine processes has increased, as new engineerings became available, as demand for new types of engine arose, and as environmental constraints on engine apply changed. Internal combustion engine, and the industries that develop and manufacture them and support their use, now play a dominant role in the fields of power, propulsion, and energy. The last century has seen an explosive growth in engine research and development as the issues of air pollution, fuel cost. Market competitiveness has become increasingly important. John B. Heywood, Internal combustion engine fundamentals. 1988. The internal combustion engine is classed as spark-ignition engines, sometimes called Otto engines, or gasoline engines or petrol engines, though other fuels can be used, and compression ignition or diesel engines, because their manufacturing is not complex, these two types of engine have found wide application in transportation (land, sea, and air) and power generation. As one of the main components in an engine, pistons technological evolution is expected to continue and they are expected to be stronger, lighter, thinner and durable. The main reason of this continuous attempt of evolution is based on the fact that the piston may be regarded the heart of an engine. Internal combustion engines, dating back to 1876 , when developed the first Otto engine spark plugs, and 1892 when he invented the diesel engine, compression ignition. Internal combustion engine is the engine that fuel combustion occurs with an oxidizer (usually air) in the combustion chamber. In the expansion of the internal combustion engine at high temperature and pressure of the gases, this is being produced by combustion, and applies directly to a force transmitted from the engine, such as turbine blades or pistons and transmission distance, and the generation of useful mechanical energy. The longer the internal combustion engine usually refers to the combustion engine, which is intermittent, such as the more familiar four-stroke and two-stroke piston engines, along with variables, such as the Wankel rotary engine. A second category of internal combustion engines, the use of sustained combustion: gas turbines and jet engines, and most of the rocket engines, each one of which is internal combustion engines on the same principle as described earlier. Internal combustion engine (or ice) differs completely from the external combustion engines, such as steam or Stirling engines, which are delivered energy means of action does not consist of, or mixed with contaminated products of combustion. Factor may be liquids, air, hot water, water pressure or even sodium liquid, and hot some type of boilers from fossil fuels and nuclear energy for burning wood, and solar energy and to a large number of different designs for the International Exploration of the Sea have been developed and built, with a variety of different strengths and weaknesses. Powered by energy-intensive fuel (which is often the very means of gasoline derived from fossil fuels) ICE delivers power to weight ratio is excellent with few safety or other defects. While there were still many stationary applications, the true power of internal combustion engines in mobile applications, which controls the supp ly of energy for cars, planes and boats, from the smallest to the largest. Only to hand power tools it is not part of the market share with a battery-powered device. Engines can be classified in many different ways: By the engine cycle used, the layout of the engine, source of energy, the use of the engine, or by the cooling system employed. While there are many cut and dried reasons for aluminum piston failure can be attributed to the majority of a group of different circumstances. Air / fuel, coolant, and regulated the relationship between oil and the engine of the different temperature cylinder liner is critical to maintain the proper operation of all components of the cylinder. Can be for a variety of conditions cause excessive growth of the piston or melt, and lead all degrees, including the disastrous results in the engine malfunction . To redress the balance between the air fuel ratio of the engine is the most important for longevity piston, durability and proper process engine. The combination of a lot of fuel or air very few have the same result the growth of thermal erosion of the piston crown. This can be attributed to the blockage of the air intakes, restricted exhaust, turbo malfunction, fuel pump is incorrect and the contamination of the injector calibration, and of course, injection or the timing of the e ngine Diesel engine has a long history that is intertwined closely with economic and other issues at the time. Diesel engine was created by Rudolf Diesel. He developed the idea of diesel engines and thought up the principle of its work. He believed even the notion of the engine that compresses air to the point where there is a rise in temperature produced. The concept of a principle where the air when entering the room with the piston, burning in the air as a result of rising temperatures. This causes the piston to move down and eliminates the need for a source of ignition. When Diesel designed his engine, while there was a demand for more fuel efficient engine, as the steam engine was nowhere close to efficient Diesel engine does not need to water supplies or large for a long time warming up and high efficiency in converting thermal energy to work. Used widely in both fixed and mobile diesel where the facilities of the power required is between that provided by a gasoline engine and that of steam turbines, and where can be written relatively high cost of the initial off over a long period. For example, a diesel capacity from 100 to 5,000 horsepower and running on generators and industrial, municipal and the pumps that operate constantly (for example, on oil pipelines). Furthermore, they occupy a relatively small area compared with steam units, because there is a need for a boiler, a factor of importance on board ship. Diesel engine differs from a gasoline engine, the fuel is the cause of the blaze by air pressure in the cylinders instead of a spark: a high compression ratio allows the air in the cylinder to become hot enough to ignite the fuel. Due to the high temperatures of the process, it must be water-cooled diesel engine. Build a diesel engine is heavier than that of the gasoline engine, and there are usually three or more cylinders (supported in the framework of the board) and heavy flywheel. The cylinders work alternately to give the effect a smooth transition, and also contribute to the flywheel to ensure a smooth work. There are two types of diesel engines. In the two-stroke -or two-cycle- type there is as a full course of the process in each of two stroke piston. This type of engine requires the provision of compressed air to run and start. In four- stroke, or four cycle- type the first downstroke of the piston draws in air that is compressed to rub up to around ÂÂ £ 500 square meters for each guest (35 kg per square cm). In the upper part of the stroke plane of the oil is sprayed in the way of fuel injector. And ignited the oil and the rapid expansion of gas created by the explosion forces the piston down in the work, or fire, and stroke. And after rubbing the top of the waste gas through the exhaust valve, and a complete cycle. The speed and power of the diesel are controlled by varying the amount of fuel injected into the cylinder, not the amount of air admitted as in the gasoline engine. Small and medium-size ships may have several diesels producing as much as 50,000 hp. Heavy-duty land transports such as trains, trucks, buses, and tractors are often diesel-powered. Some automobiles and even some airplanes have had diesel engines. Diesel engines, although more fuel efficient than gasoline engines, and generate more smog combustion products produced for (though it produces greenhouse gases, global warming less). This has restricted the sale of diesel-powered vehicles in states such as California, where smog has been a significant problem. The effects of the introduction of diesel fuel is very low sulfur in 2006, which was conducted in part to encourage the development of emission control technology and improved diesel engines, and the development of cleaner diesel engines for cars burning. And new rules for diesel engines in 2009 are required to comply with the standards set for emissions of gasoline engines

The essence of a memoir is to look back at ones experience, and see Es

The essence of a memoir is to look back at one's experience, and see how they have developed and matured. The essence of a memoir is to look back at one's experience, and see how they have developed and matured. This is no different in Dave Eggers fictitious memoir, A Heartbreaking Story of Staggering Genius. To explore what has changed a person it is important to look at what most of the person's time was spent doing. In Dave's situation, there is no shadow of a doubt, at the age of 22, his life revolved around the security and well being of his little brother Christopher (Toph). To completely comprehend Eggers growth and maturity, it is essential to analyze his relationship with his little brother Toph. Father, mother, brother, all wrapped in one, Dave becoming Toph's guardian constructed the adult that Eggers would become. Dave did not become Toph's guardian because he wanted to, but because he was the one left over. Bill was out getting a job and Beth was finishing graduate school. Dave immediately tried to overcome the grief of dealing with two dead parents, and taking care of Toph by making Toph's and his own lives fun. He spent all of the social security and inheritance on a nice house; they went out all the time; singing to song, making of people in the car, playing lots of frisbee at the beach. He seemed to drown out the sadness of the situation with their complimentary money. At this point, Dave's feelings still cannot escape him. "It's Friday night and I should be out, across the bay, I should be out every night with the rest of the young people, fixing my hair, spilling my beer, trying to get someone to touch my penis.. So yet, I could be out, enjoying this freedom specifically and that... ... did very little lecturing (something everyone's parents love to do) and just let Toph explore life as it came. This is shown when Dave picks up Toph from the girls house. Toph had played his first game of spin the bottle. Dave has all these expectations for Toph and was disappointed to hear that Toph thought nothing special of the girls, but instead of going into his regrets he had, he just let it be, because Toph will figure it out. This seems to be the parenting model in which Dave and Toph's relationship is about. Dave spent less time sheltering and trying to mold Toph to his expectations and more time just having fun with him. This created Toph to become an independent and responsible child. Because Toph was not a conventional parent, some may argue that Dave has little responsibility in Toph's maturing, but don't tell Dave, "parent almighty", so.

Genetic Testing at Burlington

Genetic Testing at Burlington Northern People wake up everyday, get ready for day, and start off to work. At work we never think about dying or getting hurt. So we do not worry enough , and we believe that our workplace is safe. But unfortunately there were some fatalities, while people at work, this fatalities and accidents are still going on. Companies must care about their workers' safety and keep their environment without any danger. For this reason companies should care about ethical values.In October 2000, Burlington Northern Santa Fe Railroad's medical department requested a blood test from Gary Avary, in purpose of a DNA test without his permission. Accidentaly he realized that, but Burlington Northern said him that if would not accept this request, he would fired. They tried to cheat their workers and make some irrelevant test about their Carpel tunnel surgery which is against ADA. At the end of this case BSNF settled the suit by agreeing to halt genetic testing and to pay 3 6 employees $2. 2 million.Because except this fake for workers, it as some mistakes against workers in work environment. First of all Kantian ethics respet to person, and we never ever should not forget that our workers are human beings like us. You should always snow respect their existence, health and safety. Secondly, BSNF lied about their health conditions. They said reason is deletion of 17th chromosome, but there is not any truth like this, so BSNF playing gamble on one person's life. For utilitarian theory, if you get profit, it does not matter what is going on outside.But after his illegal situations , BSNF charged great amount money to pay their workers, first of all it is a huge loss. Moreover they put question marks on their workers' mind. The more question marks on heads , the less utility. As i said first, we always want to beliee that we are in safe in our workplace, otherwise we cannot provide any benefit to our company. As a result BSNF gave totally wrong decisions, and they paid it hard. There is no any ethical dilemma for them. They must keep their environment safe not only for their workers, but also for their benefit.

What does a firm’s overall cost of capital mean?

Cost of capital is the return necessary to make a capital budgeting process worthwhile. Further, it is the returns that a company gets after an investment. This is the money that evaluates any new project of a company for it determines the minimum profit expected by investors in the business. To satisfy investors, the return on capital employed must be above the company’s average debts, thus making investments worthwhile. That is, the expected output must be more than the invested capital; the returns are more than the capital (Armitage, 2005).Moreover, if a project costs the same as the company’s average business activities, then it is wise to use the average cost of capital of the company as the base. This ensures that the company’s security on the cost of capital is calculated. It is done by first calculating the cost of debt and equity. Afterwards, calculate the expected returns after doing business. This is done by dividing the dividend payment per share wit h the market price then adding the growth rate. One can thus issue dividends to investors.From a financial manager's perspective, discuss the capital budgeting process used to identify projects that add to the firm's value? How do capital budgeting decisions help to define a firm's strategic direction? The capital budgeting process is used to identify projects that add value to a firm. Afterwards, the managers have to calculate the cash required acquiring a new building or equipment without deriving any cash benefits from the disposal of the replaced commodity.Any additional working capital in relation to the new equipment is initially outlaid and the initial investment is included as a part only if changes occur at the beginning of the project. After this, the managers calculate the terminal cash flow after the sale of the assets, savings after the operations, as well as the net present value of the assets. This procedure helps them to calculate the feasibility of purchasing an equ ipment or building. Capital budgeting decisions help to define a firm’s strategic direction by deciding whether to invest in a specific asset or project.This process helps to determine whether to engage the firm in acquiring certain assets which were not formerly used by the firm. In addition, this undertaking can help to replace any outdated assets, thus maintaining their efficiency. How does a firm’s capital structure relate to your personal capital structure? In what ways are they similar? Provide examples of how you use debt and equity in your personal financial life that parallels the basic capital structure decisions made by a firm.Capital structure is the combination of equity, debt, and other finance sources used to fund other long-term finances. It is therefore related to personal capital structure since the 2 represent the money working in the business, thus showing money flow in the business. Both are similar for they are the working capital of a business. T hey indicate the amount of money invested in the business as well as the profit gained. They both indicate the amount of borrowed capital flowing in the business.Further, they indicate any other form of capital that are used to run a personal business, such as, a dealer servicing one’s business with goods then settling the dues later. Debt and equity in personal financial life parallels the basic capital structure decisions made by a firm since the amount of money invested at the launch of the business, together with the sum total of goods provided by a dealer to be paid later in form of equity, is indicated.The amount of money borrowed by an individual to help strengthen their capital is indicated as equity for it represents the total amount borrowed to run the business. Modigliani and Miller [MM] employed the concept of arbitrage to develop their theory. Explain the concept of arbitrage and the role of arbitrage in the MM model. Discuss the assumptions and the issues underl ying the MM model. http://www. rdboehme. com/MBA_CF/Chap_15. pdf The concept of arbitrage can be explained using the analogy two different markets with one selling at a lower price.Sellers will buy from the low-price market and sell in the market with high prices. The prices thus tend to rise in the low-priced market until the difference is bridged. The role of the MM model is to indicate the safety of investments, that is, if a firm runs two companies, then one might have high market value per share but be very risky regarding market price per share. Conversely, the other may be low market price. Investors will then sell the shares of the risky firms and purchase the other’s, thus standardizing the average cost of capital of the group.The assumptions of the MM model are that the capital market is perfect if only the investors know the market forces. Further, the model classifies firms in groups according to business risks. Investors are assumed to use the operating income to determine the market price. It is also assumed that there are no corporate income taxes. The issues underlying the MM model are that it is very hard to run a business without paying of taxes. Further, the market prices fluctuate, thus the knowledge about market prices is not conclusive. It is thus hard to gauge the market price. What does a firm’s overall cost of capital mean? Cost of capital is the return necessary to make a capital budgeting process worthwhile. Further, it is the returns that a company gets after an investment. This is the money that evaluates any new project of a company for it determines the minimum profit expected by investors in the business. To satisfy investors, the return on capital employed must be above the company’s average debts, thus making investments worthwhile. That is, the expected output must be more than the invested capital; the returns are more than the capital (Armitage, 2005).Moreover, if a project costs the same as the company’s average business activities, then it is wise to use the average cost of capital of the company as the base. This ensures that the company’s security on the cost of capital is calculated. It is done by first calculating the cost of debt and equity. Afterwards, calculate the expected returns after doing business. This is done by dividing the dividend payment per share wit h the market price then adding the growth rate. One can thus issue dividends to investors.From a financial manager's perspective, discuss the capital budgeting process used to identify projects that add to the firm's value? How do capital budgeting decisions help to define a firm's strategic direction? The capital budgeting process is used to identify projects that add value to a firm. Afterwards, the managers have to calculate the cash required acquiring a new building or equipment without deriving any cash benefits from the disposal of the replaced commodity.Any additional working capital in relation to the new equipment is initially outlaid and the initial investment is included as a part only if changes occur at the beginning of the project. After this, the managers calculate the terminal cash flow after the sale of the assets, savings after the operations, as well as the net present value of the assets. This procedure helps them to calculate the feasibility of purchasing an equ ipment or building. Capital budgeting decisions help to define a firm’s strategic direction by deciding whether to invest in a specific asset or project.This process helps to determine whether to engage the firm in acquiring certain assets which were not formerly used by the firm. In addition, this undertaking can help to replace any outdated assets, thus maintaining their efficiency. How does a firm’s capital structure relate to your personal capital structure? In what ways are they similar? Provide examples of how you use debt and equity in your personal financial life that parallels the basic capital structure decisions made by a firm.Capital structure is the combination of equity, debt, and other finance sources used to fund other long-term finances. It is therefore related to personal capital structure since the 2 represent the money working in the business, thus showing money flow in the business. Both are similar for they are the working capital of a business. T hey indicate the amount of money invested in the business as well as the profit gained. They both indicate the amount of borrowed capital flowing in the business.Further, they indicate any other form of capital that are used to run a personal business, such as, a dealer servicing one’s business with goods then settling the dues later. Debt and equity in personal financial life parallels the basic capital structure decisions made by a firm since the amount of money invested at the launch of the business, together with the sum total of goods provided by a dealer to be paid later in form of equity, is indicated.The amount of money borrowed by an individual to help strengthen their capital is indicated as equity for it represents the total amount borrowed to run the business. Modigliani and Miller [MM] employed the concept of arbitrage to develop their theory. Explain the concept of arbitrage and the role of arbitrage in the MM model. Discuss the assumptions and the issues underl ying the MM model. http://www. rdboehme. com/MBA_CF/Chap_15. pdf The concept of arbitrage can be explained using the analogy two different markets with one selling at a lower price.Sellers will buy from the low-price market and sell in the market with high prices. The prices thus tend to rise in the low-priced market until the difference is bridged. The role of the MM model is to indicate the safety of investments, that is, if a firm runs two companies, then one might have high market value per share but be very risky regarding market price per share. Conversely, the other may be low market price. Investors will then sell the shares of the risky firms and purchase the other’s, thus standardizing the average cost of capital of the group.The assumptions of the MM model are that the capital market is perfect if only the investors know the market forces. Further, the model classifies firms in groups according to business risks. Investors are assumed to use the operating income to determine the market price. It is also assumed that there are no corporate income taxes. The issues underlying the MM model are that it is very hard to run a business without paying of taxes. Further, the market prices fluctuate, thus the knowledge about market prices is not conclusive. It is thus hard to gauge the market price.