Global Economics Essay Example | Topics and Well Written Essays - 1000 words - 2

Global Economics - Essay Example This paper talks about two big concepts of the global economics which are Inflation and Economy of Scales. There are various reasons which may lead to increase in costs. The first reason includes the rising costs of imported raw materials possibly caused by inflation in nations that heavily rely on exports of these products. Also, a fall in value of a country’s currency in the foreign exchange markets increases the price of imported inputs of that country. The second is the rising costs of labor; this is caused by an increase in wages which exceed and enhancement in productivity. Labor intensive firms are largely affected by this cause. Firms may not be able to absorb higher wage expenditures; thus, they pass the costs to customers. As a result, the wage inflation increases the price inflation. Thirdly, the imposition of higher indirect taxes by the government. An example is the increase in the excise duty rate, VAT, standard rate or fuel duties. These taxes are charged on manufacturers who, depending on the supply for their commodities and price elasticity of demand, may decide to pass on the tax burden onto consumers. In marketing economies of scale, a bigger firm may spread its marketing and advertising budget over a great output. It may also buy its raw materials in bulk at discounted prices. In financial economies of scale, financial markets frequently consider bigger firms to be more creditworthy than smaller firms. This enables these firms to access credit facilities at favorable rates.

Environmental Factors Influencing Alton Towers Uk Tourism Essay

Environmental Factors Influencing Alton Towers Uk Tourism Essay It was a challenge for me to work on this project, because it is a learning process for me that how, I could tackle this question therefore I collected primary and secondary data for my project and try my best to analyze the whole situation and produce a good Peace of work. I gather information about Theme parks called Alton tower. After getting the brief knowledge about this theme park and their strength and weaknesses, through assess to Alton tower website. With the help of some good secondary data such as different website and books sources. I used some marketing strategies such as segmentation which is used to target different types of consumers and it will help to find out how this theme park can do something new among other competitor further I did a pest analyses , created a good pricing strategies which will help this theme parks to do long term planning and allow them to face different threats and problems in a defendable way . Political factor effect very much because Government changes frequently and every Government makes it own policy, which cancel or postponed the previous policies and new policies are implemented, which start their work from zero point and all the previous work and policies result fruitless. Such as theme park might have problems in pricing strategies , if Taxes increasing , expensive increasing , timing factor etc so due to this it can influence the theme park negatively . On other hand if government policies are in the favor of business sector so might be possible that it will help Alton Tower and they can earn more profit margins ,Such as recently UK government has reduce the VAT value added tax which will increase the demand of costumers coming towards theme parks more so this show that ità ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s a good step taken by government in favor of business sector. . Government Development When it comes to development so government some time can play a vital role in improving the society standard such as government can give funds to theme parks or provide good facilities for people who comes over there for enjoyments such built sitting area , emergency help desk , locater and maps of London in theme parks for tourists . Environmental protection and regulation To protect the environment government always force the theme park management to be stick on this issue and aware there costumers to follow the regulation such as left eating items , garbic , should be through in dustbins and whole theme park should be Cover up by dustbins . Cars should be not allowed in theme parks they should have separate parking yard due to pollution which is spoiling the environment . Government should put billboards of Environmental protection and regulation on entrance of theme parks to aware people. Contract enforcing law over costumerà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s safety. In this factor government will always try their best to make sure that theme parks are having good safety precaution for costumers and whole theme parks is fully covered by CCTV so that they can defend in good way against any dangerous situation . (Dave, 2004 ) , what is pest analysis. (2008) Economical Inflation In this factor if the price increase over all the UK and there is high amount of inflation in country so this will affect the theme park , because there will be a decrease in public spending due to inflation . further if inflation is rising so there will be increase in cost of theme parks such as expenses will rise up , therefore theme park will have no other option left and they will increase their tickets price also . Economic development If the Alton theme parks does a good business ever year such as many people or tourist love to come to UK for enjoyment and in this case Alton theme park Is a good example of entertainment and many people would like to visit it due to this it will have a positive impact over economic conditions of UK, such as there will be increase in GDP , Globalization will increase and there will be a big boom in tourist industry . Employment Alton theme park is place which is full of entertainment and in this case many people want to visit it in different seasons such as summer vacations is a good season in which theme parks are fully crowded . To handle that demand of people Alton theme park will need workers in their organization every year . Theme park can play a vital role in seasonal employment which is good for economic growth because unemployment will be reduced. Mac Gee (2004) Pg 415, (themeparks UK, 2008), titley, b.pg 378 (1993). Social Life style changes When we talk about life style so now days different people have different life style . According to people they want something new in life so therefore they decide to have some good vacations or holidays so that they can stay relax for some time in such busy world , so theme park like Alton can play a vital role in changing life style of people this theme park can allow people to stay relax and have peace in their life such as it has good atmosphere , hotel nice fun place for family and couples . Population and age population and growth rate is a very important factor which can influence any business in a positive or negative way and when it comes to theme park like Alton tower , they need costumers so that they can have good business growth and UK has a good population which is helpful to this theme park and in this population theme parks are more attractive towards kids around 10 to 15 or teen agers so this will help Alton theme parks to do segmentation of people who can be interested in theme parks and then they can target generation X (10-16 ) and Y (16 à ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬ 20 ) .more . Living conditions This is factor which Alton theme park should focus more because this theme parks have hotel arrangements for costumers therefore they have to be perfect in keeping good Quaintly standard living conditions so that customers are satisfied in a good way and once costumers are happy form there services this will help to improve theme parks image and good growth in sales what is pest analysis. (2008). TECONOLGY E Business This is factor which can also help to improve theme parks sales and growth among other competitors such as theme park should have a online buying ticketing system which can help the theme park to increase its sales . and it allows costumer to book their tickets in advance which is a very nice facility to them , the more facility theme park will provide the more costumer will buy . Machinery Alton theme park has many different types of rides which are running through machines therefore every year this machinery should be checked and renovate so that good service is provided to costumers and this theme parks should introduce more high machinery for rides so that good quality is produces while costumer take those rides . Computers To improve the theme parks image or growth organization should bring new latest computer in theme parks for buying tickets or keeping records of all the sales this will help to reduce time and work will be done more faster . Internet Theme park should give wifi internet facility to costumer as they enter in theme parks so that they should have nice time and there pending work should be done easy through internet . what is pest analysis. (2008). For effective marketing research theme parks should focus more on field research such as they should make questioner , survey and then ask the costumers who come to the theme parks which will allow them to get new idea from costumer point of view and also it will tell them weather they are satisfied or not further more to do good marketing research they should following the pricing strategy and segmentation which I mention in my report and it will help them to improve there weak points into strength and they should also review this pest analyses to make their good position among other competitors and it will help them to defend any harm full situation in good way . 1.4) Price Strategy Competitors(theme park Price Price Strategy Alton tower Thorpe park chessington (One day ) Tickets Adult 35 , child 26 , family, 98 (One day ) Tickets Adult 33, child 21, family 88. (One day ) Tickets Adult 32child 21, family 86. Skimming penetration penetration After a survey of the theme parks market price trend through there website link I found out that Thorpe and chessington has applied penetration among other competitors so that they can have good sales . On other hand Alton tower has applied skimming pricing strategy therefore to compete and achieve high sales they should use markriented price strategy or apply presentation for few months until it adjusts in market. (themeparks UK, 2008) , DF IMK student potal ( 2008) 1.5) Segmentation Good marketing research also contain segmentation which is very much important strategy which can help Alton tower in very effective ways . Segmentation is where we group together costumers intro subsets with common need and characteristics to market a product and if we look at Alton tower they should follow this segmentation which is mention above and also this will give idea to them that they should target people in this limit and this segregation suites Alton tower a lot . Demographic AGE: 16-20 generation Y 10 -16 generations X 35-45 Nesters Gender: Male and Female Nationality: English or European Geographic Country: UK Urban Area: London Psychographic Family life style people (themeparks UK, 2008), (Dave, 2004 ), , DF IMK student potal ( 2008)

Pro Athletes are NOT Overpaid :: essays research papers

Pro Athletes are NOT Overpaid Many people in today’s world complain about how much Pro Athletes get pay. So I ask are Pro athletes overpaid? Look at it in this sense; they are living their dreams just like most business men do everyday. If you think that professional sports is not a job then just try to walk in the shoes of a athlete for a day. Sports, like medicine, healthcare, or software, are a business. In that business, owners pay their players what they deem they are worth.   Ã‚  Ã‚  Ã‚  Ã‚  Out of all of the professional leagues the three that make the most money are: MLB, NFL, and NBA. Together these three leagues make an astonishing $25.5 billion dollars every year. Some of wealthiest franchises from each league are; MLB: Yankees, NFL: Washington Redskins, and NBA: Lakers. Major League Baseball makes about $3.3 billion a year. The leading franchise in baseball is the Yankees which make $832 million every year. In the National Football League the Washington Redskins make the most out of any NFL team with $952 million made every year. In the National Basketball Association the Lakers make the most with $510 million. So if each league and franch 2. Highest paid athletes   Ã‚  Ã‚  Ã‚  Ã‚  a. list of athletes   Ã‚  Ã‚  Ã‚  Ã‚  b. how much they make 3. How they get paid   Ã‚  Ã‚  Ã‚  Ã‚  a. Salaries   Ã‚  Ã‚  Ã‚  Ã‚  b. endorsement deals and memorabilia   Ã‚  Ã‚  Ã‚  Ã‚  As long as fans willingly pay $120 dollars for a replica jersey, six dollars a beer, and two thousand for courtside tickets to the Los Angeles Lakers, the owners will continue to pass on that money to their stars. People act like they're getting stiffed. Let me ask you, When was the last time, someone stuck a gun to your head and said 'Watch this football game or else'? Pro Athletes are NOT Overpaid :: essays research papers Pro Athletes are NOT Overpaid Many people in today’s world complain about how much Pro Athletes get pay. So I ask are Pro athletes overpaid? Look at it in this sense; they are living their dreams just like most business men do everyday. If you think that professional sports is not a job then just try to walk in the shoes of a athlete for a day. Sports, like medicine, healthcare, or software, are a business. In that business, owners pay their players what they deem they are worth.   Ã‚  Ã‚  Ã‚  Ã‚  Out of all of the professional leagues the three that make the most money are: MLB, NFL, and NBA. Together these three leagues make an astonishing $25.5 billion dollars every year. Some of wealthiest franchises from each league are; MLB: Yankees, NFL: Washington Redskins, and NBA: Lakers. Major League Baseball makes about $3.3 billion a year. The leading franchise in baseball is the Yankees which make $832 million every year. In the National Football League the Washington Redskins make the most out of any NFL team with $952 million made every year. In the National Basketball Association the Lakers make the most with $510 million. So if each league and franch 2. Highest paid athletes   Ã‚  Ã‚  Ã‚  Ã‚  a. list of athletes   Ã‚  Ã‚  Ã‚  Ã‚  b. how much they make 3. How they get paid   Ã‚  Ã‚  Ã‚  Ã‚  a. Salaries   Ã‚  Ã‚  Ã‚  Ã‚  b. endorsement deals and memorabilia   Ã‚  Ã‚  Ã‚  Ã‚  As long as fans willingly pay $120 dollars for a replica jersey, six dollars a beer, and two thousand for courtside tickets to the Los Angeles Lakers, the owners will continue to pass on that money to their stars. People act like they're getting stiffed. Let me ask you, When was the last time, someone stuck a gun to your head and said 'Watch this football game or else'?

Currant Legislation for Home Based Childcare Essay

LawI would like to provide you with the following up to date legislation impacting on home-based childcare to ensure that your children are provided with the best possible care whilst with me. Sex Discrimination Act (1975) This Act states that all children are not discriminated against on the grounds of their sex and such discrimination is eliminated. It promotes equal opportunities between children no matter of their sex. Race Relation Act (1975) Amended 2000 This Act states that all children are not discriminated against their race and ensure early years providers work towards the elimination of unlawful discrimination and promote equal opportunities between children of different racial groups. Education Act (1981) This Act became law in 1983 and tried to provide adequate safeguards, rights and duties for all those concerned with the education of children with special educational needs and to ensure these children’s rights to be integrated into the life and work of the community. It also recognised parents’ rights regarding their children’s education. Public Health (Control of Disease) Act (1984) and Health Protection Agency Act (2004) All these legislations are focused on protecting people’s health, covering notification and exclusion periods for certain infectious diseases. Exclusions for children include exclusion from schools, places of entertainment or assembly. Education Reform Act (1988) The National Curriculum was introduced into England, Wales and Northern Ireland as a nationwide curriculum for primary and secondary state schools following the Education Reform Act 1988. Children Act (1989) This is the basis of the current child protection system in England and Wales and was introduced to consolidate and clarify previous legislation. It established the principle that a child’s welfare is paramount in any decisions made about their upbringing. It states that every effort should be made to preserve a child’s home and family links and also introduced the notion of parental responsibility. It details how local authorities and courts should act in order to protect the welfare of children. Education Act (1993) This Act is an education measure with the aim of making important changes to the education system in England and Wales. It has various chapters which give details on the responsibility for education, addressing children with special educational needs, setting out the requirements of school attendance and providing details in regard to admissions and exclusions. It also gives parents the right to ask for their child, which is under 2 years of age, to be formally assessed. Code of Practice for the identification and assessment of Children with Special Educational Needs (1994 revised 2001) This Code of Practice provides practical advice to educational settings, including Early Years settings, on carrying out their statutory duties to identify, assess and make provision for children’s special educational needs. Reporting of injuries, diseases and dangerous occurrences regulation (RIDDOR) (1995). Major injuries, which include fractures other than to fingers, thumbs or toes, amputation, dislocation, loss of sight (temporary or permanent) * Accidents resulting in over 3 day injure * Notifiable diseases * Dangerous occurrences * Gas incidents Food Safety & General Food Hygiene Regulation (1995) This Act is not currently applicable to registered childminders but acquiring a basic Food Hygiene Certificate is considered good practice. Food should be prepared and provided in a hygienic way. Safety controls are in place, maintained and reviewed. Food safety hazards are identifies by doing risk assessments and implementing appropriate solutions. Family Law Act (1996) This Act sets out guidance on safeguarding and promoting the child’s welfare. Disability Discrimination Act (1995) This Act states that it is illegal to treat disabled person less favourably than a non-disabled person. Settings are required to make reasonable adjustments to prevent disabled people being discriminated. Education Act (1997) This Act incorporates all previous Acts since 1944. It recognise the rights of parents regarding their children’s education and set a time frame on the legal process for identifying and assessing a child’s needs as set out in the Code of Practice. Code of Practice for First Aid (1997) The Code of Practice sets out standard practice and guidance for trained first aiders and gives tailored advice to show different people in industry what they need to do to meet their legal responsibilities for health and safety. Human Rights Act (1998) The Act incorporates the European Convention on Human Rights into UK law. Children are covered by this legislation although not specifically mentioned. Protection of Children Act (1998) The Act states that the Secretary of State shall keep a list of individuals who are considered unsuitable to work with children. Data Protection Act (1998) It relates to information held about an individual. This includes medical records, social services files, facts and opinions about an individual. Anyone processing personal data must comply with the eight principles of good practice. T This Act introduced the Early Years Foundation Stage (EYFS), a statutory framework that sets the standards for learning, development and care of children in the period between child’s birth and their fifth birthday. It is designed to ensure that children receive a good start in life and build a solid foundation to prepare them for school and life. The revised EYFS is effective from September 2013. Safeguarding in Child’s Welfare (15th April 2013) This guidance sets out how organizations and individuals should work together to safeguard and promote the welfare of children and how practitioners should conduct the assessment of children.

Blinds to Go Case Essay

If Blinds To Go staffing stores still lack of staff for the expansion plan, it is difficult for the company to fill current store requirements for the additional 50 stores per year. Analysis The BTG have problems of a variation of the commission-based compensation plan, so they are difficult to keep high-level associates, assistants and managers, they face to high staff turnover each year and lack of the attraction to recruit new members. In order to analyze BTG’s problems, they must look at their compensation structure, recruiting methods, and the condition of staff turnover. Compensation structure In 1996, the Shillers decided to change the compensation system from full commission to salary, and her intention was to attract more recruits, make sales associates less entrepreneurial and more customer-service focused, but the best commission-based people did not like it and left. However, sales declined between 10% to 30% in both new and existing stores from 1996 to 1997. A variation of the commission-based compensation plan was back in 1998, and store sales improved. Next, a plan for store employees was implemented along with a sales award and recognition program, and all full-time sales associates were made partners and given shares in the company. In addition, there was another concern that a commission-based compensation structure would not work in the U.S., because the workers prefer a straight wage or salary. Finally, senior management believed that sales managers had to be properly motivated and provided them with a combination of store sales commission and opportunities f or rapid advancement in the growing organization. Recruiting methods In order to attract quality retail sales candidates, BTG had tried several recruiting methods to varying degrees of success, such as employee referral,  Internet sourcing, DSM compensation readjustment, BTG retail recruiters, newspaper advertising, and store generated leads. As a result, the most effective method of attracting quality candidates is employee referral, followed by Internet sourcing, and next is DSM recruitment. The total number of employee referral in two months in 2000 is 59, the highest percentage of all recruiting method. Referrals generally pursued employment with BTG, excited by the opportunity that a friend or family member who was a BTG employee had recounted. Moreover, recruiters were focused on non-store sources and store sources were handled by the DSM. Staff turnover By June 2000, Blinds To Go operated 120 corporated-owned stores across North America, and it was senior management’s belief that quality of staff is more important than store location. There are four staff roles in the store: the sales associate, the selling supervisor, the assistant store manager, and the store manager. Overall staff turnover increased to more than 40 percent from a pre-1995 figure of 15 percent. This problem was further exacerbated by the fact that rapid store expansion into several large cities had required the deployment of skilled store staff, thinning the ranks of existing stores. The 1998 shift back to commission-based compensation structure caused a huge turnover in BTG stores, it had still not fully recovered from the previous compensation change. Plan of Action In order for Blinds To Go to recruit and develop enough people for the expansion plan, the following steps need to be taken so the company will success to meet the growth objectives. The sales managers had to be properly motivated so BTG need to change the commission-based compensation structure to have a combination compensation structure with base salary and other compensation decisions. According to the base salary of $8/hour were attracting a lower caliber of people, and the best commission-based people did not prefer it, and the U.S. folks like a straight wage or salary. In addition to the small base salary  and sales commission plan, the company could use group incentives and organizational incentives to encourage teamwork and cooperation. BTG may add up a profit sharing plan for employees to receive a portion of the organization’s profits over and above their regular compensation. The employee stock ownership plans are also available to compensate employees by awarding them shares of the company stock. The company could continue the existing recruiting methods and add more details to the recruiting process more integrated. To provide a job analysis and job description are easy for employees to comprehend the important work-related aspects, the basic tasks, duties, and responsibilities required of a particular job. BTG may attach importance to external recruiting rather than internal recruiting, but internal recruiting is still functional for the company to figure out qualified employees inside the company. During external recruiting, keep the method of cold call, walk-ins, internet, employee referral, DSM hires and develop some other methods. For example, advertising on newspapers, magazines, direct mail, radio, and television are effective to recruit broadly. Moreover, develop employment services is also important, to establish state or private employment agencies, temporary help agencies, and professional search firms will attract more quality candidates. Furthermore, the special events such as career conferences or job fairs will also work. BTG may develop performance appraisal and use functional one-to-one communication to keep low and functional staff turnover. The performance appraisal is the process of assessing how well employees are doing their jobs. Objective performance measures are also measures of performance that are easily and directly counted and quantified. These measures are benefit for BTG to figure out the quality of the employees, and may use the hierarchical pay structures top decide the pay level of people with different abilities. However, training programs are also accessible to improve the quality of employees. In addition, use one-to-one communication could help the managers to figure out the problems of people’s performance  on the job. Especially for counseling, communicate with the person about non-job-related issues that may be interfering with the person’s performance could help employees to address their personal issues and improve their performance on the job. By following these steps, BTG can develop enough people for the expansion plan, and the company can meet the growth objectives successfully. Evaluation After developing the compensation structure, the employees have to be appropriately motivated, and the BTG selling process involved a very high level of interaction with the customer, which set a very high level of service expectation. The emphasis on customer satisfaction at the retail stores lead to a higher volume of orders relative to the retail competition. Store sales will improve across the board. To try several recruiting methods such as formal or informal programs that worked to entice qualified personnel to apply to BTG which increase the degree of success. To keep the turnover low and functional, the quality of the store’s staff will be high in a healthy competitive environment among sales associates. According to the percentage of staff voluntary turnover occurred in their first four months become low and the employees are stable in BTG, the company will have stable source of staff to proceed with its expansion plan and develop complements efficiently. The sales of the company will be high for each consecutive store opened, and no competitors could replicate the model of BTG.