Course Materials Essay

Information Systems in Global Business Today,† of Management Information Systems. Reading Read Ch. 2, â€Å"Global E-Business and Collaboration,† of Management Information Systems. ParticipationParticipate in class discussion. 3 out of 7 days; 8 for the week minimum. Participation on additional days is recommended. 3 out of 7 days with 2 posts minimum on those 4 days2 Supporting Activity Business Integration Levels Resources: SkillSoft (2012). IT Strategy Essentials: Business and IT Strategy Alignment. Complete The Business Integration Levels module in Skillport. Imagine you have been hired by a small well-funded startup company to help with their IT-enabled business strategy. Your first task is to let them know the elements involved with using IT-enabled business strategy. Write an e-mail describing the five elements of IT-enabled business strategy. Answer the following questions in 200 to 300 words each: †¢What are the advantages of aligning business and IT strategies? †¢How does IT deliver business benefits that are related to the business strategy? Monday; post to grade book2 Learning Team Instructions Learning Team CharterComplete and submit the Learning Team Charter. Learning Team Instructions Service Request SR-rm-012 Paper and Presentation (Preparation)Resource: Virtual Organization for Riordan Manufacturing Begin working on Service Request SR-rm-012, Business Systems, for Riordan Manufacturing. Write a 10- to 12-page paper and create a Microsoft ® PowerPoint ® presentation of the project, due in Week Five. Assume that the paper and presentation are to be presented to an executive management committee. At a minimum, the paper must include the following: Each type of business system and subsystem †¢A description of each business system and subsystem †¢Identification of the interrelationships of business systems and subsystems Individual System Inventory For this assignment, you will choose from the following options: †¢Option 1: Virtual Organization System Inventory †¢Option 2: General IT System Inventory Read the instructions in the University of Phoenix Material: System Inventory located on the student website and select one option to complete the assignment. Monday; post to grade book5 Week Two: Business Environment DetailsDuePoints Objectives2. Identify economic, government, and legal influences on business. 2. 2Describe the ethical and security considerations for an information system in business. 2. 3Describe the need for security measures in IT organizations and information systems. Reading Read Ch. 3, â€Å"Information Systems, Organizations, and Strategy,† of Management Information Systems. ReadingRead Ch. 4, â€Å"Ethical and Social Issues in Information Systems,† of Management Information Systems. ReadingRead Ch. 8, â€Å"Securing Information Systems,† of Management Information Systems. ParticipationParticipate in class discussion. Participation on additional days is recommended. 3 out of 7 days with 2 posts minimum on those 4 days2 Supporting Activity Security Threats and DefensesResources: SkillSoft (2012). Control Fundamentals and Security Threats. Complete The Security Threats and Defenses module in Skillport. Write an informative memo to a business manager that does not fully understand the need for security measures. Emphasize the risk of not protecting against known security threats such as social engineering. Answer the following in the memo in 200 to 300 words each: Discuss the role that preparing employees to recognize and respond to social engineering techniques should play in the organization’s overall information security program. †¢Note three specific social engineering techniques. Discuss how they can be recognized and how to best prepare employees for each potential attack. Monday; post to grade book2 Learning Team Instructions Service Request SR-rm-012 Paper and Presentation (Preparation)Resource: Virtual Organization for Riordan Manufacturing Review the Home page and the Finance, and Accounting page located on the intranet site for Riordan Manufacturing. Identify and describe, based on your review, existing and needed business systems and subsystems. Draft the first 2 to 3 pages of the paper. Individual Service Request SR-kf-013 PaperKudler Fine Foods is in the process of developing a new frequent shopper program. Details of this program are described in the Service Request SR-kf-013 and on the Sales & Marketing page of the Kudler Fine Foods intranet website. Write a 3- to 5-page paper describing the potential legal, ethical, and information security concerns related to the development of the Kudler Fine Foods Frequent Shopper Program. Discuss in your paper any specific costs related to these issues that are relevant to your review. These could include fines and other costs related to problems in these areas. Keep your analysis focused on the requested concerns, not the project itself. Your paper should focus on making management aware of the issues that must be addressed in the new system and should not directly cover the implementation process. Include in your description how this information system has an effect on the organizational structure. Monday; post to grade book15 Week Three: Finance and Accounting DetailsDuePoints Examine accounting information systems. 3. 2Analyze accounting information systems and business processes. ReadingRead Ch. 1, â€Å"An Introduction to the Role of Accounting in the Business World,† of Core Concepts of Accounting. ReadingRead Ch. 2, â€Å"Concepts and Elements Underlying Accounting,† of Core Concepts of Accounting. ReadingRead Ch. 9, â€Å"The Corporate Income Statement and Financial Statement Analysis,† of Core Concepts of Accounting. ParticipationParticipate in class discussion. 3 out of 7 days; 8 for the week minimum. Participation on additional days is recommended. Discuss the need to integrate accounting systems with those in the rest of the enterprise. Why would such systems need to have constant data feeds from throughout the enterprise? Monday; post to grade book2 Learning Team Instructions Service Request SR-rm-012 Paper and Presentation (Preparation)Resource: Virtual Organization for Riordan Manufacturing Review the Human Resources and Legal pages located on the intranet site for Riordan Manufacturing. Identify and describe, based on your review, existing and needed business systems and subsystems. Draft the next 2 to 3 pages of the paper. Individual Accounting System PaperFor this assignment, you will choose from the following options: †¢Option 1: Kudler Accounting System Paper †¢Option 2: Profit and Loss Statement Paper Read the instructions in the University of Phoenix Material: Accounting System Paper located on the student website and select one option to complete the assignment. Monday; post to grade book15 Week Four: Sales and Marketing DetailsDuePoints Objectives4. 1Examine contemporary marketing practices. 4. 2Describe marketing in the electronic commerce environment. ReadingRead Ch. 1, â€Å"Marketing: Creating and Capturing Customer Value,† of Marketing. ReadingRead Ch. 2, â€Å"Company and Marketing Strategy: Partnering to Build Customer Relationships,† of Marketing. ReadingRead Ch. 4, â€Å"Managing Marketing Information to Gain Customer Insights,† of Marketing. ReadingRead Ch. 14, â€Å"Direct and Online Marketing: Building Direct Customer Relationships,† of Marketing. ReadingRead Ch. 16, â€Å"Sustainable Marketing: Social Responsibility and Ethics,† of Marketing. ParticipationParticipate in class discussion. 3 out of 7 days; 8 for the week minimum. Participation on additional days is recommended. 3 out of 7 days with 2 posts minimum on those 4 days2 Supporting Activity Social Media and Online MarketingResources: SkillSoft (2012). Marketing Essentials: Introduction to Marketing. Complete The Social Media and Online Marketing module in Skillport. Imagine the IT department of a medium-sized company has hired you. Your first task is to explain the value of social media as a marketing tool. Write a letter to the IT department in which you discuss the key things the company should do to establish a strong positive social media presence. Answer the following questions in the letter in 200 to 300 words each: †¢What role do IT systems play in marketing? How can IT systems help support an organization’s marketing efforts? †¢What are the key elements of an organization’s online reputation? How can they positively influence each one? Monday; post to grade book2 Learning Team Instructions Service Request SR-rm-012 Paper and Presentation (Preparation)Review the Sales & Marketing page located on the intranet site for Riordan Manufacturing. Identify and describe, based on your review, existing and needed business systems and subsystems. Draft the next 2 to 3 pages of the paper. Begin working on your Microsoft ® PowerPoint ® presentation. Individual McBride Marketing PaperResource: Virtual Organization for McBride Financial Services McBride Financial Services wants to expand its customer base and needs ideas on what to put in its new marketing effort toward this goal. Write a 3- to 5-page paper describing a marketing plan for McBride Financial Services. In completing the assignment, consider the following: †¢What market research would you undertake? †¢What types of media would you use? †¢What are McBride’s target markets? †¢What are the considerations for McBride to conduct a portion of their marketing on the Internet? Explain your reasoning for your responses. Monday; post to grade book15 Week Five: Information Systems DetailsDuePoints Objectives5. 1Identify types of information systems and required security. 5. 2Apply the concepts of information systems to business processes. ReadingRead Ch. 1, â€Å"Information Systems in Global Business Today,† of Management Information Systems. ReadingRead Ch. 2, â€Å"Global E-Business and Collaboration,† of Management Information Systems. ReadingRead Ch. 3, â€Å"Information Systems, Organizations, and Strategy,† of Management Information Systems. ReadingRead Ch. 8, â€Å"Securing Information Systems,† of Management Information Systems. ReadingRead Ch. 13, â€Å"Building Information Systems,† of Management Information Systems. ParticipationParticipate in class discussion. 3 out of 7 days; 8 for the week minimum. Participation on additional days is recommended. 3 out of 7 days with 2 posts minimum on those 4 days2 Supporting Activity Control TypesResources: SkillSoft (2012). Control Fundamentals and Security Threats. Complete The Control Types module in Skillport. Imagine University of Phoenix’s IT department has hired you. Your first task is to make sure the department is following the most important information security practices. Write a 2- to 3-page paper highlighting the most important information security practices. Answer the following questions in your paper in 200 to 300 words each: †¢What are three key elements for an organization to consider in strengthening its overall information security posture? Describe how each plays a role in the operations of the entire organization. †¢How do the principles of information security apply to the material that has been examined during the course? How can the systems used throughout the organization both enable business and protect the data they contain? Monday; post to grade book2 Learning Team Service Request SR-rm-012 Paper and PresentationReview the Operations page for Riordan Manufacturing. Identify and describe, based on your review, existing and needed business systems and subsystems. Include information on the need for IT security in Riordan Manufacturing. Include types of information systems and required security for Riordan Manufacturing. Complete the final paper and project presentation. Monday; post to grade book30 Copyright University of Phoenix ® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries. Microsoft ®, Windows ®, and Windows NT ® are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation. Edited in accordance with University of Phoenix ® editorial standards and practices.

Business Analysis Of The Print Shop Accounting Essay

The Print Shop and Anglian Digital Solutions have been merchandising since 1998 and prides itself on quality and dependability. We produce both litho-printing aimed at medium to long tallies, and digital printing for print tallies of up to 1000 transcripts. Both of our printing services are backed with our in-house design studio to assist give your concern the border. We like to impart our client ‘s demands right, bring forthing your merchandise in the most cost effectual manner so we have split the company into two different concern watercourses. The Print Shop for all lithographic demands and Anglian Digital Solutions for digital print. All citations are channeled into the right concern watercourse to give you value for money.Accounting:Accounting is the art of recording, sum uping, coverage, and analysing fiscal minutess. An accounting system can be a simple, useful cheque registry, or, as with Microsoft Office Small Business Accounting 2006, it can be a complete record of all the activities of a concern, supplying inside informations of every facet of the concern, leting the analysis of concern tendencies, and supplying penetration into future chances. When you study accounting you are basically larning this specialised linguistic communication. This is because the information required by most organisations is really similar and can be broken down into three chief classs:Operating InformationThis is the information that is needed on a daily footing in order for the organisation to carry on its concern. Employees need to acquire paid, gross revenues need to be tracked, the sums owed to other organisations or persons need to be tracked, the sum of money the organisation has needs to be monitored, the sums that clients owe the organisation demand to be checked, any stock list demands to be accounted for: the list goes on and on.AFiscal Accounting InformationThis is the information that is used by directors, stockholders, Bankss, creditors, the authorities, the populace, etcaˆÂ ¦ to do determinations affecting the organisation and its operations. Shareholders want information about what their investing is deserving and whether they should purchase or sell portions, bankers and other creditors want to cognize whether the org anisation has an ability to pay back money Lent, directors want to cognize how the company is making compared to other companies. This type of information would be really hard to pull out if every company used a different system for entering their fiscal place. Fiscal accounting information is capable to a set of land regulations that dictate how the information is reported and this ensures uniformity.AManagerial Accounting InformationIn order for the directors of a company to do the best determinations for a company they need to hold specific information prepared. They use this information for three chief direction maps: planning, execution and control. Fiscal information is used to put budgets, analyze different options on a cost footing, and modify programs as the demand arises, and control and supervise the work that is being done.ABalance SheetA Balance Sheet is a position study that shows information about the organisation ‘s resources at one given clip. Examples of info rmation found on a balance sheet are how much hard currency is in the bank, what is owed to creditors, and the value of the company ‘s assets.Income StatementAn Income Statement ( besides called a Statement of Net incomes, Statement of Operations, or a Net income and Loss Statement ) is a study that shows the flow of grosss ( sums earned from concern activity ) and disbursals ( sums paid in the class of operations ) over a given period of clip, typically a month, one-fourth, or twelvemonth.Statement of Cash FlowAs the name suggests, this is besides a flow statement that inside informations the motion of hard currency through the organisation over a specified period.AThe whole intent of accounting is to supply information that is utile and relevant for interested paras when doing determinations sing the company and its operations. In order to make that efficaciously, a specific linguistic communication and subsequent regulations have been developed for users of the information. By larning accounting you learn these regulations and can so pass on fiscal information with others in a comprehendible and comparable mode.Finance Operation:It is an authorization which is discerning with finding the criterions and determinations doing. It besides function allocates resources, including the geting, puting, and managing of resources. These maps are performed in all organisations, irrespective of their sizes, legal signifiers of organisation and they contribute to the endurance and growing of the house. Finance maps are concerned with the basic concern activities of a house, in add-on to external environmental factors which affect basic concern activities, viz. , production and selling. Current fiscal factors impacting the finance map include: Pressures to optimise fiscal public presentation Frequent alterations in accounting criterions Increased coverage and revelation demands Increased conformity demandsAccounting Techniques:Control techniques provide directors with the type and sum of information they need to mensurate and supervise public presentation. The information from assorted controls must be tailored to a specific direction degree, section, unit, or operation. To guarantee complete and consistent information, organisations frequently use standardised paperss such as fiscal, position, and undertaking studies. Each country within an organisation, nevertheless, uses its ain specific control techniques, described in the undermentioned subdivisions.Fiscal controls:After the organisation has schemes in topographic point to make its ends, financess are set aside for the necessary resources and labour. As money is spent, statements are updated to reflect how much was spent, how it was spent, and what it obtained. Directors use these fiscal statements, such as an income statement or balance sheet, to supervise the advancement of plans and programs. Fiscal statements supply direction with information to supervise fiscal resources and activities. The â€Å" income statement † shows the consequences of the organisation ‘s operations over a period of clip, such as grosss, disbursals, and net income or loss. The â€Å" balance sheet † shows what the organisation is deserving ( assets ) at a individual point in clip, and the extent to which those assets were financed through debt ( liabilities ) or proprietor ‘s investing ( equity ) . Fiscal audits, or formal probes, are on a regular basis conducted to guarantee that fiscal direction patterns follow by and large accepted processs, policies, Torahs, and ethical guidelines. Financial ratio analysis examines the relationship between specific figures on the fiscal statements and helps explicate the significance of those figures: Liquidity ratios: step an organisation ‘s ability to bring forth hard currency. Profitability ratios: step an organisation ‘s ability to bring forth net incomes. Debt ratios step an organisation ‘s ability to pay its debts. Activity ratios: step an organisation ‘s efficiency in operations and usage of assets. In add-on, fiscal duty centres require directors to account for a unit ‘s advancement toward fiscal ends within the range of their influences. A director ‘s ends and duties may concentrate on unit net incomes, costs, grosss, or investings.Budget controls:A budget depicts how much an organisation expects to pass ( disbursals ) and earn ( grosss ) over a clip period. Sums are categorized harmonizing to the type of concern activity or history, such as telephone costs or gross revenues of catalogs. Budgets non merely aid directors plan their fundss, but besides assist them maintain path of their overall disbursement. Budget development processes vary among organisations harmonizing to who does the budgeting and how the fiscal resources are allocated. Some budget development methods are as follows: Top-down budgeting: Directors prepare the budget and direct it to subsidiaries. Bottom-up budgeting: Figures come from the lower degrees and are adjusted and coordinated as they move up the hierarchy. Zero-based budgeting: Directors develop each new budget by warranting the jutting allotment against its part to departmental or organisational ends. Flexible budgeting: Any budget exercising can integrate flexible budgets, which set â€Å" meet or round † criterions that can be compared to outgos.Selling controls:Selling controls help supervise advancement toward ends for client satisfaction with merchandises and services, monetary values, and bringing. The following are illustrations of controls used to measure an organisation ‘s selling maps: Market research gathers data to measure client needs-information critical to an organisation ‘s success. Ongoing market research reflects how good an organisation is run intoing clients ‘ outlooks and helps expect client demands. Marketing statistics step public presentation by roll uping informations and analysing consequences. In most instances, competence with a computing machine spreadsheet plan is all a director needs. Directors look at selling ratios, which step profitableness, activity, and market portions, every bit good as gross revenues quotas, which step advancement toward gross revenues ends and aid with stock list controls. Unfortunately, scheduling a regular rating of an organisation ‘s selling plan is easier to urge than to put to death.Human resource controls:Human resource controls aid directors modulate the quality of freshly hired forces, every bit good as proctor current employees ‘ developments and day-to-day public presentations. On a day-to-day footing, directors can travel a long manner in assisting to command workers ‘ behaviours in organisations. They can assist direct workers ‘ public presentations toward ends by doing certain the ends are clearly set and understood. Directors can besides establish policies and processs to assist steer workers ‘ actions. Common control types include public presentation assessments, disciplinary plans, observations, and preparation and development appraisals. Because the quality of a house ‘s forces, to a big grade, determines the house ‘s overall effectivity, commanding this country is really important. Performance restrictions: Although direction information systems have the possible to increase overall public presentation, replacing long-time organisational employees with information systems engineering may ensue in the loss of adept cognition that these persons hold. Additionally, computerized information systems are expensive and hard to develop. After the system has been purchased, organizing it-possibly with bing equipment-may be more hard than expected. Consequently, a company may cut corners or put in the system heedlessly to the hurt of the system ‘s public presentation and public-service corporation. And like other sophisticated electronic equipment, information systems do non work all the clip, ensuing in dearly-won downtime. Behavioral restrictions: Information engineering allows directors to entree more information than of all time before. But excessively much information can overpower employees, cause emphasis, and even slow determination devising. Therefore, pull offing the quality and sum of information available to avoid information overload is of import. Health hazards: Potentially serious health-related issues associated with the usage of computing machines and other information engineerings have been raised in recent old ages. An illustration is carpal tunnel syndrome, a painful upset in the custodies and carpuss caused by insistent motions ( such as those made on a keyboard ) . Regardless of the control processes used, an effectual system determines whether employees and assorted parts of an organisation are on mark in accomplishing organisational aims.Statistical Techniques to Test a Hypothesis:A statistical hypothesis trial is a method of doing statistical determinations utilizing experimental informations. In statistics, a consequence is called statistically important if it is improbable to hold occurred by opportunity. The phrase â€Å" trial of significance † was coined by Ronald Fisher: â€Å" Critical trials of this sort may be called trials of significance, and when such trials are available we may detect whether a 2nd sample is or is non significantly different from the first. Hypothesis testing is sometimes called confirmatory informations analysis, in contrast to exploratory informations analysis. In frequence chance, these determinations are about ever made utilizing null-hypothesis trials ; that is, 1s that answer the inquiry â€Å" Assuming that the void hypothesis is true, what is the chance of detecting a value for the trial statistic that is at least every bit utmost as the value that was really observed † ? One usage of hypothesis testing is make up one's minding whether experimental consequences contain adequate information to project uncertainty on conventional wisdom. Statistical hypothesis testing is a cardinal technique of frequents statistical illation, and is widely used, but besides much criticized. The chief direct option to statistical hypothesis testing is Bayesian illation. However, other attacks to making a determination based on informations are available via determination theory and optimum determinations. The critical part of a hypothesis trial is the set of all results which, if they occur, will take us to make up one's mind that there is a difference. That is, do the void hypothesis to be rejected in favour of the alternate hypothesis.Undertaking 2:Identifying Users of Accounting Information:So accounting exists in order to supply information for interested parties to do determinations, now we can logically inquire: ‘Who are these interested parties? ‘ and ‘For what sort of determinations is accounting information required? ‘ Figure 1.1 shows the major groups of people who have an involvement in an organisation. The figure relates to a private sector concern but minor changes in the rubrics of the participants would do it every bit relevant to any organisation – for illustration, a authorities section, a local authorities unit, a charity, a nationalized industry, a school or a college. Staying with the illustration of a private endeavor concern, we can place the types of determination that each of the participants might necessitate to do with regard to the organisation and the information required. These are as follows: proprietors, the authorities, direction, clients, providers of goods and services, loaners, employers, rivals and anteroom groups.OwnersAOwners are concerned with doing two types of determinations: Investing determinations ; and Stewardship decisions.A Investing determinations are chiefly concerned with increasing the wealth of the proprietors. Those who own concerns usually do so with the purpose of increasing their wealth. Therefore, proprietors will wish to measure the extent to which the concern has generated fiscal benefits ( net incomes etc. ) and the likely future chances of the concern. They will besides wish to measure the grade of hazard associated with their investing in the concern. Information associating to associated hazards and returns will be utile when make up one's minding whether to keep or sell their ownership involvement in the concern. In larger concerns, the proprietors tend non to exert daily control over the activities of the concern. Alternatively, directors will frequently run the concern on behalf of the proprietors. This possible struggle creates a demand among proprietors to have accounting information from the directors that reveals how the resources of the concern have been used. The proviso of information by directors to proprietors for this intent is referred to as stewardship accounting. Government: A authorities may necessitate information from a concern for a assortment of grounds including revenue enhancement, ordinance, economic direction and authorities contracts. Tax: A Businesss are taxed on the footing of their accounting net incomes ( capable to certain accommodations ) ; authorities ( in the signifier of the Inland Revenue ) needs information on each concern in order to make up one's mind how much revenue enhancement to charge. Economic direction: Governments may besides utilize accounting information associating to concerns to assist in the general direction of the economic system. For illustration, accounting information may be utile in make up one's minding whether to give support to concerns in a peculiar industry.Fiscal Statement Restrictions:The first restriction is that they are ever in the past tense†¦ they look back, non in front. Second, they merely reflect fiscal minutess. So all the of import things that are go oning in the company, the industry and the market place are non reflected†¦ has at that place been a direction reorganization, has the company fallen behind in merchandise development or engineering, has a rival late introduced a great merchandise, are at that place pending ordinances that will impact the company. Many things can impact the computation of ratios and do comparings hard. The restrictions include: The usage of estimations in apportioning costs to each period. The ratios will be every bit accurate as the estimations. The cost rule is used to fix fiscal statements. Financial information is non adjusted for monetary value alterations or inflation/deflation. Companies have a pick of accounting methods. These differences impact ratios and do it hard to compare companies utilizing different methods. Companies may hold different financial twelvemonth ends doing comparing hard if the industry is cyclical. Diversified companies are hard to sort for comparing intents. Fiscal statement analysis does non supply replies to all the users ‘ inquiries. In fact, it normally generates more inquiries.Non Financial Key Performance Indexs:Non-financial cardinal public presentation indexs, or KPIs, enable companies to mensurate the consequences of theirA † corporate duty and sustainability † A enterprises. By integrating the appropriate KPIs into their procedure, companies can derive a more comprehensive apprehension of how good they are run intoing their corporate duty aims. As organisations embark on environmental, societal and governance enterprises, they are detecting that fiscal steps entirely do non supply an accurate appraisal of their corporate duty advancement. For illustration, traditional fiscal indexs do non to the full capture all facets of a company ‘s relationships with its clients, employees and providers, or stand for its attempts with regard to sustainability.Budgets and Budgetary Function:Budget:A budget is a program expressed in quantitative, normally pecuniary term, covering a specific period of clip, normally one twelvemonth. In other words a budget is a systematic program for the use of work force and material resources. In a concern organisation, a budget represents an estimation of future costs and grosss. Budgets may be divided into two basic categories: Capital Budgets and Operating Budgets. Capital budgets are directed towards proposed outgos for new undertakings and frequently require particular funding. The operating budgets are directed towards accomplishing short-run operational ends of the organisation, for case, production or net income ends in a concern house. Operating budgets may be sub-divided into assorted departmental of functional budgets.The chief features of a budget are:1. It is prepared in progress and is derived from the long-run scheme of the organisation. 2. It relates to future period for which objectives or ends have already been laid down. It is expressed in quantitative signifier, physical or pecuniary units, or both. Different types of budgets are prepared for different purposed e.g. Gross saless Budget, Production Budget, Administrative Expense Budget, Raw-material Budget etc. All these sectional budgets are afterwards integrated into a maestro budget, which represents an overall program of the organisation.Budgetary Control:No system of planning can be successful without holding an effectual and efficient system of control. Budgeting is closely connected with control. The exercising of control in the organisation with the aid of budgets is known as budgetary control. The procedure of budgetary control includes: 1. Preparation of assorted budgets. 2. Continuous comparing of existent public presentation with budgetary public presentation. 3. Revision of budgets in the visible radiation of changed fortunes. A system of budgetary control should non go stiff. There should be adequate range of flexibleness to supply for single enterprise and thrust. Budgetary control is an of import device for doing the organisation. More efficient on all foreparts. It is an of import tool for commanding costs and accomplishing the overall aims.Alternate Methods for Cost Analysis:There is a assortment of attacks to be analysis, the suitableness of any of which depends upon the intent of an appraisal and the handiness of informations and other resources. It is seldom possible or necessary to place and quantify all costs and all benefits ( or outcomes ) , and the units used to quantify these may differ. Main types of cost analysis include the undermentioned. Cost-of-illness analysis: a finding of the economic impact of an unwellness or status ( typically on a given population, part, or state ) e.g. , of smoke, arthritis or pressure sores, including associated intervention costs Cost-minimization analysis: a finding of the least dearly-won among alternate intercessions that are assumed to bring forth tantamount results Cost-effectiveness analysis ( CEA ) : a comparing of costs in pecuniary units with results in quantitative non-monetary units, e.g. , reduced mortality or morbidity Cost-utility analysis ( CUA ) : a signifier of cost-effectiveness analysis that compares costs in pecuniary units with results in footings of their public-service corporation, normally to the patient, measured, e.g. , in QALYs Cost-consequence analysis: a signifier of cost-effectiveness analysis that presents costs and results in distinct classs, without aggregating or burdening them Cost-benefit analysis ( CBA ) : compares costs and benefits, both of which are quantified in common pecuniary units.Restrictions of Budgetary Controls:The aim of direction accounting is to assist directors accomplish the missions and schemes established for their endeavor. It is a subdivision of accounting that provides fiscal and other information to directors. A cardinal function for direction comptrollers is to set up the control systems used to accomplish organisational ends and minimise hazards. One of the most of import of these is budgetary control, a powerful tool that encourages planning, sets mileposts, evaluates public presentation and suggests waies for betterment. Management comptrollers besides develop information systems that communicate strategic and operational precedences to managerial determination shapers. The aim of this class is to assist participants better understand the function and operation of the budget control and to locate it within the larger context of direction control. Using cognition already acquired in earlier degrees of the MBA plan, this class will allow pupils to get cognition on: – the public-service corporation and operation of a budget control procedure ; – the design of the budgetary control system as a map of the organisational scheme ; – the finding of cost behaviour ; – the usage of budgets to pull off grosss, costs and net incomes ; – the relationship between direction control and organisational construction ; – the organisation of fiscal information in a comprehendible, flexible, accessible and utile signifier to authorise determination devising ; – the rating of public presentation for different administrative units within the organisational construction ; – the development and usage of non fiscal public presentation steps.Undertaking 3:Business Evaluation:It is a procedure and a set of processs used to gauge the economic value of an proprietor ‘s involvement in a concern. Evaluation is used by fiscal market participants to find the monetary value they are willing to pay or have to consummate a sale of a concern. In add-on to gauging the merchandising monetary value of a concern, the same rating tools are frequently used by concern valuators to decide differences related to estate and gift revenue enhancement, divorce judicial proceeding, allocate concern purchase monetary value among concern assets, set up a expression for gauging the value of spouses ‘ ownership involvement for buy-sell understandings, and many other concern and legal intents.Methods for Measuring a Business:Asset AccumulationThe Asset Approach is based on the premiss that it is by and large possible to neutralize the belongings, works and equipmen t ( PP & A ; E ) assets of a company and after paying off the company ‘s liabilities the net returns would accrue to the equity of the company.Discounted hard currency flow methodThis rating method based on free hard currency flow is considered a strong tool because it concentrates on hard currency coevals potency of a concern. Since hazards are non ever easy to find exactly, Beta uses historic informations to mensurate the sensitiveness of the company ‘s hard currency flow, for illustration, through concern rhythms.Market ValueThis rating method is applicable for quoted companies merely. The market value is determined by multiplying the quoted portion monetary value of the company by the figure of issued portions. This rating reflects the monetary value that the market at a point in clip is prepared to pay for the portions. This rating method loosely takes into history the investors ‘ perceptual experiences about the public presentation of the company and the dire ction ‘s capablenesss to present a return on their investings.Corporate Hazard:It is a planetary, full-service concern intelligence and hazard direction house. We offer clients a full suite of services to cut down exposures to planetary hazards, A prehend upon concern chances, andA protect employees and assets. Our clients run or seek to run in many of the universe ‘s emerging markets, A and our services are designed to extenuate the hazards of prospecting and runing in these hard parts. We provide the insight necessary for clients to do of import concern determinations in a timely, efficient and comprehensive mode.Cost of Capital:The cost of capital is the cost of a company ‘s financess ( both debt and equity ) , or, from an investor ‘s point of position â€Å" the expected return on a portfolio of all the company ‘s bing securities. † It is used to measure new undertakings of a company as it is the minimal return that investors expect for suppl ying capital to the company, therefore puting a benchmark that a new undertaking has to run into.Debt vs. Equity:There are two types of funding: equity and debt funding. When looking for money, you must see your company ‘s fiscal strength. The more money proprietors have invested in their concern, the easier it is to pull funding. If your house has a high ratio of equity to debt, you should likely seek debt funding. However, if your company has a high proportion of debt to equity, experts advise that you should increase your ownership capital ( equity investing ) for extra financess. That manner you wo n't be over-leveraged to the point of endangering your company ‘s endurance.Factors Effecting Capital Cost Structures:Business hazard:Hazard associated with the nature of the industry the concern operates and if the concern hazard is higher the optimum capital construction is required.Tax place:Debt capital is regarded as cheaper because involvement payable is deductible f or revenue enhancement intents. Advantage non much for concerns with undiminished revenue enhancement losingss, depreciation revenue enhancement shield as they already have an bing lower revenue enhancement load.Fiscal flexibleness:Depends on how easy a concern can set up finance on sensible footings under inauspicious conditions. Flexibility in raising finance will be influenced by the economic environment ( handiness of rescuers and involvement rates ) and the fiscal place of the concern.Managerial manner:How much to borrow besides depend on directors approach to finance hazard. Conservative directors will usual seek to maintain the debt equity ratio depression.Decision:The concern analysis performed by analyst reduces waste, creates solutions, completes undertakings on clip, Improves efficiency, Document the right demands and it besides reduces the hazard and helps in the growing of the company.

Historical Reference Essay

â€Å"A favorite theory of mine to wit, that no occurrence is sole and solitary, but is merely a repetition of a thing which has happened before, and perhaps often†(Twain). This quote from a famous writer, Mark Twain, talks about how he believes that history can and does repeat itself. Mark is saying that everything takes place for a reason and has occurred sometime before in history. This idea of history repeating itself is present throughout the novel Fahrenheit 451 by Ray Bradbury. The book is about a dystopian society where firemen actually light fires to burn precious books. In this society, the majority of the people believe that books are worthless and that every book should be burnt to ashes. The people of this society do not think for themselves and in many cases hardly think at all. Throughout Fahrenheit 451 many events occur that have also occurred sometime in our society, which parallels the theme of history repeating itself between the book and our society. While book burning is usually associated with Nazi Germany, its roots actually extend far back into the ancient times. For example in 212 BC, the Chinese emperor Shih Huang Ti burned all the books in his kingdom so that history might begin with him (Freedom to Read). In 460 AD Omar the caliph ordered for over 200,000 volumes in the library of Alexandria to be burnt in a vast bonfire (Mullins). Then in 1933 in Nazi Germany, enormous bonfires spread across Berlin burning thousands of books (Schwartz). â€Å"Do you ever read any of the books you burn?† He laughed. That’s against the law! Oh. Of course† (Bradbury 8). This quote from Fahrenheit 451 shows that in this society books are never in any circumstances read. These illustrations indicate how book burning is not a onetime thing and that it first started with government restriction. Likewise in Fahrenheit 451 before the books are burned to ashes, the leaders in the government restrict or censor certain material, which is also shown throughout many instances in history. Nowadays many popular books are deemed unhealthy for children to read that adults in the past read various times (Freedom to Read). Books like Huckleberry Fin and Harry Potter are banned in schools libraries (Mullins). In Fahrenheit 451 the government bands books to try and make everyone of every race pleased. â€Å"We read the books and then burn them afraid they would be found† (Bradbury 152). In medieval France the King never allowed for books to be read, unless he said that they could (Mullins). Also in 1720 the Church of England banned Robinson Crusoe and discouraged its members from reading it (Mullins). These examples show that throughout many times in history, restriction on books existed and may have lead to other actions such as war. Besides book banning and burning, Fahrenheit 451 also shows that war can and does repeat itself over and over again. In the BC time period Plato the famous philosopher said, â€Å"Only the dead have seen the end of the war† (Plato), which justifies that war, was present thousands of years ago. â€Å"And it looks like we’re doing the same thing, over and over again† (Bradbury163). War in our country started with The French and Indian War, the American Revolution, then the Civil War, then the World Wars, and many more (Moore). In fact nowadays we cannot stop seeming to try and fight in wars in other countries, which leads to unnecessary deaths of our soldiers. A war is always going on somewhere because humans can never seem to just get along (Moore). Over and over again, war attempts to solve problems throughout history and that is why war can be considered a historical recurrence. It is very apparent that historic recurrence is going to happen through war, book banning, and book burning. History proves over and over again that we can hardly solve any problems without war. Book banning and burnings have happened since early times when leaders like kings and popes want control over their followers. History is bound to repeat itself and we as humans may not recognize it, but regardless it will happen. As a famous quote says â€Å"Smart people learn from their mistakes, but the real sharp ones learn from the mistakes of others† (Mull). History can repeat itself in many ways seen, and unseen to people. It is what people learn from it that can help us not make the same mistakes again in the future.

Business letter Assignment Example | Topics and Well Written Essays - 250 words - 1

Business letter - Assignment Example The duties of my current project include maintaining the road and infrastructure in the town (including the tasks of road repairing, snow clearing, grinding gravel roads in summer, cutting grass on town property, etc.). My team has been working very honestly in my supervision, but some problems have been encountered in the management of the work load effectively resulting in getting over budgets and hiring more labors. Firstly, the winter season of the town is very severe for the laborers, as some of them belong to warm regions leading to their inefficiency at the work place and frequent medical issues specially reporting high fever and cold. To fill the gap of absent laborers, new laborers could be hired to replace them. Secondly, the Christmas event is very near, but the work load is more than expected because of more snowfall in this season than before. To complete the projects before the Christmas event, overtime shifts are introduced, which has caused over budget expenditures. Thirdly, the provided machinery for weather related problems was not working efficiently to control the freeze drainage culverts related issues. There was the need of high pressure steam machine, which was not available. So, the extra expenditures were spent on the purchase of new steam pressure parts for freeze drainage and ice on the

Management Information Essay Example | Topics and Well Written Essays - 2500 words

Management Information - Essay Example In this scenario management of corporation has decided to implement a new technology based structure and platform that would have the capability to effectively manage and control all the business operations. This report outlines the new information system (IS) strategy for the Golden Fleece Hotel. In addition, this report will offer an analysis of the key aspects of information system strategy and how it will increase revenue for the organization. The business of Golden Fleece Corporation involves the management of hotel. This business was established in 1999 and now became a large size organization. In potential advancements of the business there are some business problems. Golden Fleece hotel is based on 100-Â ­room resort hotel located in South Yorkshire. In addition, Golden Fleece hotel is mainly aimed at targeting the business people and travellers. In this scenario the business owner ‘Hugh Johnson’ wants to offer its customers unique hotel experience and enjoyment facilities. However, in potential enhancement in the business of the Golden Fleece there are some problems regarding management of business operations and tasks, for instance, effective management of the business, customer and resources data handling. However, by seeing the potential enhancements in the field of information technology the management of Golden Fleece has decided to implement and incorporate new technology to manage the business op erations. This report onward will present some of main aspects regarding development of the new information strategy (IS) strategy for the Golden Fleece Hotel. The business of Golden Fleece Hotels flourished really much in beginning years however as the business enhanced its traditional business structure was not capable to handle the business operations. Additionally, the business also faced some economic down term. Thus, the Golden Fleece’s occupancy rate had begun to fall. The main

Solution Description Research Paper Example | Topics and Well Written Essays - 750 words

Solution Description - Research Paper Example Primary interventions address coronary artery disease risk factors whilst secondary intervention addresses the health adverse outcomes. Patient’s safety can only be improved through medical adherence. This depends on the patient self-management such as lifestyle modification. All these need support from the health care system. Proposed solution From the survey conducted, it is evident that among the young males newly diagnosed with coronary artery disease, 70% of them have diabetes mellitus and hypertension in their medical history. In addition to that, 60% of these people smoke. However, they regularly carry out some physical exercise and do not have any idea of what coronary artery disease means to their health. This, therefore, means that they do not understand what is expected of them in order to contain the disease with reference to dietary. Given the fact that this population has no idea on diet, they have to be taught on what is expected of them. According to Hermida (2 011), changes in dietary can help in reducing the young men’s systolic blood pressure due to diabetes mellitus and hypertension in their medical history. The dietary factors that need to be considered by this group are reduced amount of salt intake and saturated fat contents. Adherence to these controls helps in managing hypertension and diabetes mellitus. Besides dietary changes, these individuals need to be encouraged not to smoke and also shun environmental smoke (Mosca et al., 2007). Compliance with lifestyle modification improves the patient’s quality of life via eliminating premature deaths and preventing further complications. To the patients’ immediate family, compliance relieves them of the negative psychological effects of losing their loved ones. Additionally, adherence conserves the resources of the family that would have been channeled in the obtaining of health care. Organizational culture: This section aims to illustrate how lifestyle modification , as the proposed solution, is consistent with the organization of resources and culture of the society. To the society at large, patient compliance with treatment is an effective measure of saving costs. This is because it decreases complications of incidents and the need for further medications. This is of great significance to the health care public financed systems. Compliance has a great impact on the health care system. For instance, it limits hospitalization needs and reduces workloads on the healthcare system staff. In addition, satisfactory outcomes of treatment boost the attending clinician’s morale whilst failure in treatment frustrates them and impacts their work delivery. Expected Outcome of the Project The expected outcome of the project is to improve the adherence of the patients to enhance their safety. The main reason is that chronic conditions such as the coronary artery disease need a lot of care. In addition, most of this care focuses on the patient self-m anagement. As a result, it requires complex multi-therapies and medical technology use for monitoring patient lifestyle change. Therefore, if these patients are not supported adequately by the health care system, they may be prone to risks that are life-threatening. The outcome will be achieved by educating the patients on lifestyle modifications such as the amount of salt intake, significance of physical activity, avoiding smoking, reducing the

Entrpreneurs ( management ) Essay Example | Topics and Well Written Essays - 3500 words

Entrpreneurs ( management ) - Essay Example For this purpose, I have come up with a new business idea of MOTOTAXI service that aims to target people who prefer convenient, efficient & effective means of transportation that not only take them to their destinations but also saves their time, money and headache of driving or waiting for public transport such as underground railway system, taxis, rickshaws and cabs. Mototaxi is a simple motor cycle branded as a taxi. It is made for one passenger only (either man or a woman) and it mainly targets middle class and lower middle office going employees, sole proprietors, doctors, lawyers, teachers, students and individuals etc aged between 16-45 years. The reason for choosing this market segment is because of the fact that they like to save money, are interested to reach their destinations in time, prefer secure, convenient and quality transport accessible at any point and any location with less of a hassle. Almost 50 moto taxis of cost 2,500$ will be introduced in the initial stage of this business venture that will be increased gradually after analyzing the customer response and growth opportunities in the market. First, we will use a Fleet Management System to keep track of all the MotoTaxis across the city areas. This system will enable the company to run all its business operations such as number of available orders from our clients, the number of available drivers and their bio data, arrivals and departures of taxis and others. The second type of technology that we are planning is to use radio so that all the moto taxi drivers will remain connected (with each other) with our 24 hour call center at all times. This would enable the company to ensure transport services to the clients in areas where we are not operational but where a moto taxi can pick the customer from the nearest spot. Our call center will operate through special software to manage the calls and short messages (sms) from clients and will also be linked to

Identify and discuss the major challenges that Costa Coffee will face Essay

Identify and discuss the major challenges that Costa Coffee will face in its operations in the French market and propose suitable recommendations for overcoming or mitigating the identified challenges - Essay Example In spite of the success observed in the Costa Coffee sales in France, there are several challenges that the Costa Coffee will face inevitably. These challenges mainly involve the economic difficulties. The prime business challenges faced by the Costa Coffee as a whole are directly in relation with the economic recession from 2008. This is because the customers have been observed to become more cautious with their discretionary spending due to the high personal debt as well as unemployment. Further, social as well as cultural challenges might also be faced by the Costa Coffee. The cafe will have to not only sell Coffee but also maintain the ambience and surroundings of the cafe. This is because people not only come to drink coffee but also come to calm down and have a relaxed experience. The better the ambience, the more people will spend on coffee. Another difficulty that the Costa coffee might face is the fact that people are much more aware environmentally in the recent era. The so urce from which the coffee beans are produced as well as the way they design their supply chain as well as prepare and sell their product is of great concern by the French customers. Furthermore, the Costa Coffee is faced by great competition from other leading coffee shops within France. These include firstly star bucks as well as coffee republic and many others. This competition tends to steal the coffee customers that are vital for the increase of sales for the Costa Coffee. Further, the Costa Coffee in France would also face problems in association with the intense price competition. Due to the high prices in Costa Coffee, it is seen to target only the upper middle class and the privileged class. Also, any alteration in the development of information technology resulting in a change in the markets would definitely pose a threat to the Costa Coffee in France. The major problems faced by the Costa Coffee can be dealt by focusing on attracting more customers. This can be done by

Time value of money Research Paper Example | Topics and Well Written Essays - 1250 words

Time value of money - Research Paper Example gger amount in the days to come.  The renowned fact that money possesses a time value implies that time value of that money must be put into account when making decisions to do with finance.   This is done by restating values of money through time with what is called Calculations of Time Value of Money.   These calculations are applied so as to shift monetary unit values of through the given time period.   The calculations can be used to state future monetary flows in present value terms and also to restate today’s value amounts into future monetary values. These calculations are by far the most powerful tool that is available for making business and financial decisions. These values may be used to restate cash flows in such a way as to make them comparable in the process of making financial decisions. The present value of money puts into account that fact that cash always loses value over time due to inflation as well as opportunity cost. The reason the topic of prese nt value of money is very important in finance is because its calculation forms a basis for all decisions that managers make. Calculation of present values is very important in making many financial decisions that face all individuals and managers in various types of firms.   This procedure allows many financial computations in relation to the interest earning, returns upon investments gains, capital budgeting processes of decision, predicaments relating loan, insurance programming predicaments,  and many other business asset buying or decisions in relation investment.   These computations also grant the basis for part of the most commonly used valuation models as well as concepts applied in today’s finance.   Failure to discount makes ventures that yield returns in the future appear to be more valuable than they really are.(Rosen, H.S 2005 pp. 241)Through calculating the net present value, firms are able to make accurate estimates on the returns to expect from variou s investments they choose to undertake. This is through calculating returns on investments. Firms are also in a better position to make reasonable and accurate budgets since they are under no illusion about their actual present or future monetary value. The net present value is also very important in dealing with loans related issues that may arise. The finance manager of a company will be in a position to know the amount of loan that the firm can afford to repay comfortably. This is very important because the company will avoid having too large loans which may be difficult to repay and thus it will remain financially stable. Finally, calculation of net present value is very useful in solving insurance programming problems of a company. Question 2 Future Value(FV) = Present Value(PV) ?( 1 + Interest Rate(R) )T , where T is the number of periods or years a) Present value = $ 15,000, Interest Rate = 7%, Time = 5years Therefore,Future Value = 15,000 ? (1 + 0.07)5 = $21,038.28 b) Presen t value = $ 19,500,Interest Rate = 4%,time = 3years Future Value = 19,500?(1+0.04)3 = $ 21,934.8 c) Present value = $

Lodging in Canada Essay Example for Free

Lodging in Canada Essay Real estate is classified as one of the greatest personal financial assets one can own in Canada. Some statistics have estimated that, more than 70 percent of Canadians posses their own personal homes (Alexander, 2006). The value of all residential homes in the country is estimated to amount to more than 2 trillion dollars. Given the current demand for personal homes, the future financial plans of most Canadians includes the value of owning homes. The increased desire for most people to own personal homes and yards has been attributed to the various demographic and market factors. Some of these factors include; an aging population and a low inflation economy which has been sustained over time. Demographic factors have been cited as the greatest contributors to the current demand for personal housing in Canada. Statistics show that, Canada experiences a medium growth in its population and medium rates of immigration as well. The high number of people who are retiring from their jobs and retracting back to their homes has increased the demand for personal homes in the country. In addition, the demand for residential homes has also risen as a result of the net growth rate of household formation. However, this rate is expected to decline from the current 1. 4 percent to around 0. 8 percent by the year 2030 as a result of an aging population in Canada (Alexander, 2006). As much as these factors have led to an increased growth in the number of personal homes and residential estates, the same factors are likely to result into higher home prices in the near future. For this reason, the average price of personal homes is expected to increase by about 4 percent per annum over the next 20 years or so. The future trend for personal housing is also expected to change in the next few years due to the increased reliance of Canadas population growth rate on immigration. Initially, Canadian immigrants preferred rental accommodation but this trend has recently changed, as most immigrants now seek to own their own personal homes. In this case, the rate of household formation is bound to increase. However, some demographical statistics suggest that, the rate of new homes construction is bound to go down in future as a result of an aging population. In this case, it is predicted that the rate of personal housing is likely to reduce from 175,000 housing units per year as it stands today to around 125,000 housing units per year in the year 2030 (Alexander, 2006). Historically, those Canadian cities with a problem of land scarcity have been found to posses the highest demand for personal housing. These cities which include Vancouver, Toronto and Montreal have hence been found to have the highest price gains in house prices over the past two decades or so. By the year 2030, the housing demand in these cities is expected to increase above the current national average, especially in Toronto and Vancouver, due to the increased rate of immigrant growth. Other cities in Canada which are expected to experience a rise in housing demand in the near future include Edmonton and Calgary, as a result of more stable conditions in the labour market. On the other hand, a few cities are likely to experience lower housing demands than in the past, due to less supportive demographics presented by the low population growth. It can thus be concluded that, though the current demand for personal homes in Canada is quite high, the future number of new housing levels is likely to be moderate the demand for more personal houses is bound to increase, due to the aging Canadian population. The entry of new house levels is largely dependent on the rate of immigration and in this case, any slight increase in the number of immigrants will shift the demand for housing to a high end. Reference. Alexander, C. (2006). Long-term outlook for Canadian homes. Canada Special Reports. Retrieved on 21 November, 2008, from http://www. td. com/economics/special/ca0906_home_prices. jsp.

Nonprofit and charity organizations

Nonprofit and charity organizations Why are Volunteers Important? For many nonprofit and charity organizations volunteers are the life-blood that keeps the organization working and performing to its true purpose and goals. Without these unpaid volunteers the charity or nonprofit organisation would not be able to function because costs of employing paid workers would probably make it unviable. For any organisation that uses volunteers recruitment can cause a big headache. It is tempting to think that if someone is prepared to give up their time for free then that is all that is needed. This is a mistake. It is important to find the right people for the tasks that need doing but those people will need to have or be prepared to learn the required skills. Shared Values and Purpose Volunteers will also need to fit into the organization so they will need to have the beliefs and attitudes that the organization sees as being important in the role it aims to fulfil in society. This means an organization will need to have clear values and purpose and look for people who share them to recruit as volunteers. When selecting and recruiting volunteers consideration needs to be given as to why the organisation needs volunteers. It is likely that the financial considerations will be an important factor with the economy of unpaid volunteers favouring setting on paid staff. At the same time it is important to recognise that some members of the organisation may well need to be paid employees Them and Us Sometimes a them and us or volunteers and employees scenario may develop which may not be healthy for the organisation. It may be necessary to emphasise that paid employees are an essential part of the organisation and that volunteers will probably be the lifeblood. Rewards for Volunteers People rarely do something with out some kind of reward or return whether it is monetary, training, gaining experience, or for personal satisfaction. Volunteers will need to feel they are contributing and receiving. Ways will need to be found to ensure that both employees and volunteers feel they are valued and have a proper place within the organisation. Defining Boundaries It will be necessary to define the roles and boundaries within the organisation for employees and volunteers and define and communicate clearly what the organisation needs and expects from both which may differ. It will also be necessary to decide what the organization will give to the volunteer. This may be satisfaction and a sense of doing good work, training, experience, a good reference for future employees or perhaps something else. Whatever it is it will need to satisfy the volunteers expectations. To help ensure the nonprofit or charity organization gets the right person in the right place at the right time there will need to be an understanding of what roles are required and the type of people needed to fill them. Job Descriptions and Contracts It is a good idea to create a separate Job Descriptions and contracts for employees and volunteers. This will help define the boundary between employee and volunteer. This is important because some volunteers have been known to claim that they are employees with employees rights which can have serious legal implications. Also some employees may try to claim some of the volunteers perks, rewards or working conditions. The role, or roles, that the organisation want filling will need to be clearly defined to ensure that candidates are interviewed for the right position. An organisation may have several different roles it want to fill and it will be a waste of time interviewing a person who does not have any administration skills or interest in learning them for a role in administration. It is essential to define the role and then decide what skills the candidate will need to either have, or learn. Person Specification. It will be necessary to identify the characteristics and personal qualities and beliefs of the volunteer and their motives for volunteering to ensure that they are right for the organisation and in sympathy with the aims and mission of the organisation. A good idea is for an organization to decide the kind of person they will be looking for and decide what characteristics, attributes and skills are essential or desirable. Separate Recruitment Procedures and Policies The organisation will need to have a separate recruitment procedure and policies for employees and volunteers. This will be necessary to protect the organisation and also offer best protection for employees and volunteers. The organisation will need to comply with the law. Finding Volunteers When the organization has defined the role of the volunteer, created Job Descriptions, Contracts and Personal Specifications and knows exactly what sort of people they are looking for how do they find them? Word of mouth can be an effective and cheap way to find volunteers depending on the role of the volunteer and the numbers of recruits required. This can be effective for some organizations with employees, existing volunteers and their friends and neighbours spreading the word, or service users and their families doing the same. There are also various forms of advertising that can be used to help recruitment. Television, radio, internet, newspapers magazines can be expensive but reach a great number of potential recruits. Cheaper ways of advertising such as putting up posters in local shops, or leaving flyers in public places such as libraries can also work well as can simply handing them out in busy shopping centres. |What ever way the organisation decides to advertise the advertisement will need to have certain information displayed clearly. The name of the organisation and the nature, purpose and values needs to be made clear. It will also be important to display the role of the volunteers and the benefits they will receive. To make it easy for potential recruits the advertisement will need to display clearly how to apply, where to apply or get further information. A contact name, postal and email address and telephone number will help and encourage potential recruits to apply or ask questions. Information in the advertisement should be clear and simple, concise and inoffensive. It should stand out but for the right reasons. Once the method or methods of advertising have been decided and advertisements placed the next stage is to send out application packs with the Job Description, Person Specifications, Application Forms and any other information the organization wants to send or is required to send by law. The organization may decide it wants to keep to assign a date for the return of applications or it may decide to leave it open. Either way it should advise the potential recruit as well as advising them on how or when they will be informed if they are accepted for interview. Interviews The interview should give the organization the chance to access the candidates potential and consider how they will fit in. The previous work done on producing a Job Description and Personal Specification will be a big help in this. Before the interview takes place the format of the interview needs to be decided. For example, will it be a group interview, will there be tasks or tests, or it will candidates be interviewed individually? Decide who and how many people will interview candidates, what questions are going to be asked and how the answers will be rated. All candidates should be treated equally and fairly. When these points have been addressed then a timetable can be scheduled taking in advertising, closing dates, time to consider applications and sending out invitations. With all the preparation work done the interview should give the organization a good idea of if the candidate is suitable for them. Candidates need to be informed as soon as possible. Successful candidates should be informed first just in case they turn down the offer for some reason. An offer can then be made to the next best candidates if deemed suitable. It can also be useful to keep unsuccessful candidates details on file just in case a more suitable position comes up in the future This will save the need to advertise. It should be made clear to successful candidates that any offers are subject to suitable references, qualification checks and any legal checks that may need to be done. It may be necessary, depending on the role offered, for some, or all of these checks to be done before a starting date can be arranged. Getting the Right Person in the Right Place. Finding the right volunteers for a required role can be very difficult and time consuming and expensive. An unsuitable volunteer may cost the organization or charity a lot of money or cause damage to their reputation so it is essential to recruit the right people. If all of these points are considered and taken into account the nonprofit organization or charity will stand a very good chance of selecting the right volunteers for the right role at the right time.

Dubai Is A Very Young Tourist Destination Tourism Essay

Dubai Is A Very Young Tourist Destination Tourism Essay Introduction: Dubai is a very young tourist destination which gained popularity recently. Dubai has proved as a very successful destination and managed its economy after its recent crisis in year 2009. Having exclusive resorts and hotels throughout the city with deserts makes it a memorable destination with cherishing experience it has desserts which make it similar to Las Vegas in America, Dubai was an impossible dream which is now an oasis for fun in a very promising environment. The backbone for the development of Dubai was the investment made by the foreign investors which helped the infrastructure to boom and flourish. These developments were very well supported and promoted by transparent government policies. But it is important to note that though Dubai was one of the first cities to develop tourism its very challenging to sustain it since there are neighbouring destinations as well which are striving hard to gain the popularity among the region. However Dubais development as a destination year after year has been remarkable and impressive. Dubai has been a dessert gem of the Middle East region. Where the tourists can enjoy sunny beaches with the luxury of one of the finest hotels in the world combined with the warmth of Arabian hospitality. Product offer: Dubai is a destination with seven star luxury hotels overlooking the beaches and with superb infrastructure throughout the city. Dubai caters to young tourists and to people who are willing to invest in any kind of business. It serves with excellent tourist amenities and products which are worth investing in. It is one of the seven emirates of UAE where the tourism industry has done exceptionally well in the recent past years. Dubai is one of the most preferred destinations in the terms of its geographic location. Most of the Middle East and subcontinents of India are just few hours away from Dubai and with ease of accessibility. Also it attracts tourists from European countries making it just 5 hours of flight to Dubai. Dubai is known as one of the best places for a short break with wide range of products offering such as hotels and resorts, dining, shopping, partying, sports events and much more. Dubai is also known for its artificial islands namely, Palm Jumeirah, Palm Deira, Palm Jabel Ali and The world. These artificial and unbelieving infrastructures have taken a drastic curve towards the development of tourism industry. Pricing Strategy: Dubai has made its image at an international level and kept the pace with the increasing market demand and needs effectively. Tourism industry is one of the major contributors of the total economy of Dubai. Dubai was at its best in its early 2002 which lasted for 5 to 6 years and faced a global economy crisis in year 2009. However, Dubai is recovering and doing good from last 2 years or so with tremendous growth in retailer business, oil refineries and of course the tourism industry. As said earlier, Dubai saw its boom time during year 2002 and hence it had psychological pricing strategy. However after the economical downfall in year 2009, Dubai is now going through market penetration pricing strategy so as to attract international investors and tourists back to Dubai.(Hsu, Killion, Brown, Gross, Huang, 2008) Also, keeping in mind the visa formalities of Dubai, that is visa on arrival, can be termed as differentiated strategy. In this context, Dubai tries to accommodate more and more numbers of immigrants and which in a way helps the Government of Dubai to generate more revenue through visitors. Service concept: Dubai has emerged as one of the finest places to visit with ample of attractions from heritage sites, exclusive resorts and hotels overlooking the beach to famous landmarks like Burj Al Arab, newly constructed Burj khalifa, the palm, the world, etc. However, Dubai is trying to develop its infrastructure as much as possible and it is coming up with certain developments which will definitely be a benefit for the tourism industry. Future developments which would enhance the service concept of Dubai for tourism industry are as follows: Dubailand Dubai sports city The world Al Maktoum International airport Global village Current key marketing communication strategies: In this world of globalization, countries all around the globe are competing with each other in all aspects. This is where marketing comes into the picture. Today, the importance of marketing has reached to an extreme height where any business or a destination must have a unique marketing strategy to attract tourists or investors and gain their attention. Dubai has also done its part of it so as to make the world aware of what Dubai is all about and what is it offering to the world. Dubai has currently positioned itself in a rejuvenation stage because of the recent economic downfall in year 2009 and hence it is trying its best to penetrate in the market again and it has been doing exceptionally well since past 2 years. Dubai has introduced various promotions and events which has critical role to attract investors from worldwide and sell Dubai as a destination through such events. There are few festivals and events which help Dubai for its strategic marketing which are as follows: Dubai shopping festival Dubai summer surprises Eid in Dubai Also, Dubai introduces sports activity, entertainment, conferences and exhibitions throughout the year. This breathtaking festivals and events attract people from around 200 countries throughout the world. People visiting Dubai for such events obviously experience something unique and this in a way is personal selling for the destination through its tourists. On the other hand, in this world of modern technology, Dubai, like other countries have introduced an official website named Definitely Dubai which makes it easier for an individual to explore Dubai at one stop and go. Hence, Dubai has various means through which they market their destination and they are as follows: Advertisement Personal selling Public relations Main target market: Dubai offers ample of attractions and a place which attracts all sorts of target market from different aspects of market segmentation. Following are the main target market for Dubai: Business travellers: Dubai is a hub for investors and lately more and more number of international investors have turned up to Dubai and invested in some or the other kind of business. Airlines and ship crew: Dubai enjoys its geographic location and remains one of the major points of halt for all the flights flying from one part to the other part of the world. Hence, accommodating maximum number of airlines and ship crews. Expatriates: As said earlier, Dubai has more than 80% of expatriates which means only less than 20% of UAE nationals resides in Dubai. Honeymooners: Having had unique destinations with luxurious resorts and hotels, honeymooners are the best target market for the hotels. Hotels like Burj Al Arab and Atlantis are one of the best hotels to stay in for the honeymooners. Leisure travellers: Leisure travellers have lots more to explore Dubai in terms of shopping, activities, sports, entertainment, natural reserves, beaches and parks. High end travellers may enjoy their stay in any 5 star luxury hotels and make their stay a memorable experience. Main challenges faced: Main challenge for Dubai was to cope up with the global economic crises which had a huge impact on the infrastructure development as well as the tourism industry. Most of the developments or projects were cancelled or put on hold. Also the political instability in the Middle East region raised an alarm for all the tourists visiting this region ultimately slowing down the flow of visitors to Dubai. However, after the economic crises in year 2009, Dubai has made tremendous come back and it is now coping up with the pace of the market with tourism industry booming at a very high rate. Environmental analysis: Environmental analysis is nothing but an evaluation of the possible impacts of external environment or forces on the existing strategies or growth of the business or organization. Dubai as a destination would definitely like to provide each and every visitor a memorable and cheerful experience. Hence, government of UAE is responsible for the betterment and safety of its cities and UAE itself as a country. Dubai is situated on the emirates northern coastline. Dubai shares its border with Abu Dhabi in the south, Sharjah in the northeast and Oman in the south east (www.definitelydubai.com). Having such competitive environment, environmental analysis will help Dubai identify its current position in the market and possible strengths and weaknesses. (Hsu, Killion, Brown, Gross, Huang, 2008) Environmental analysis will basically include macro environmental scanning. Macro environment consists of political, economical, socio-cultural, technological, ecological and legal factors for Dubai as a destination. Marketing Information system: Marketing information system (MIS) is all about gathering and storing of data and evaluating them so as to meet the goals and objectives of any organization and for its development. Information could be in various forms, for example, number of tourist, number of hotels, technology development, businesses, revenue earned, etc can be collected. This information is collected by the Department of tourism and commerce marketing, Government of Dubai Dubai is one of the growing cities in the UAE. As a destination, it attracts visitors through various means like real estate, travel packages, online auctions, exports, nightclubs, multi-level marketing, job agencies for skilled labours, franchise business, etc. These factors somehow attract people from worldwide as a tourist or a visitor. This, in a form adds up to the revenue earned by the government in terms of tourism and development. Marketing information system gathers and stores data in the form of statistics and it is up to date with the department of tourism and commerce marketing, Dubai. This will certainly help Dubai to form its strategy for its continuous and rapid growth in the market. There are certain benefits of having marketing information system which are as follows: It helps to identify and recognize current market trends Helps in marketing planning and controlling Helps with lots of information which is systematically and properly designed Helps in making right decision at the right time with the facts and information readily available It also helps in environmental scanning. Hence, it is always worth having MIS in any kind of business or a destination to evaluate its current position in the market and cope up with new market trends. Environmental scanning: Environmental scanning helps in understanding the context for the preferred future. Environmental scanning refers to macro environment which considers political, economical, socio cultural, ecological, technological and legal factors. It also comprises of industries, companies, clients and competitors. These factors influence the business, industry or a market as a whole. Environmental scanning is a process of identifying the happenings in and around the business or a destination. Dubai is a unique destination with infinite opportunities. Hence, environmental scanning will help the destination to survive in the market by identifying the opportunities and threat to its market. In this world of globalisation, there is a need to do proper analysis of the surroundings so as to maintain the pace with the world and form a strategy accordingly. The procedure for environmental scanning will be done at international level. Dubai has been growing rapidly since past few years and hence the government of Dubai or the tourism department needs to be up to date with the happenings in and around Dubai. PESTLE analysis: Pestle analysis will broadly focus on the political, economical, socio-cultural, technological, ecological and legal aspects of it. This will help Dubai as a destination to plan its strategies for the future development and attract more number of tourists. PESTLE will also help the government of Dubai to know its competitors and the potential threats to its market. (Hsu, Killion, Brown, Gross, Huang, 2008). Political: Dubai is one of the 7 emirates of UAE and unlike other neighbouring countries it has a stable political history. In the recent years, it has sufficiently developed dynamic legal and regulatory framework. Dubai government and the department of tourism and commerce marketing have contributed a lot in the development of Dubai as tourism destination. However, there are certain impacts of political and legal factors on the destination. One of the major factors that attract tourists from around the world to Dubai is the entry formalities. The UAE authorities have made it very straightforward for the visitors of the Dubai by introducing a visa on arrival system. Here the tourists do not require prior visa to enter UAE airport, however this facility is only applicable to 39 countries GCC nationals. Hence, this formality is a big plus point for Dubai to attract tourists from all around the world. Government of Dubai has given good preference to the people who are interested in doing a business. It has also received recognition for its efforts in creating business opportunities. It has been a good outcome overall and the government of Dubai is still looking forward to bring in new expensive facilities. Foreigners have the right to have the ownership of up to 49% for the businesses that are established in UAE and up to 100% for the professional businesses (DTCM, 2011a). The government is also looking forward to improve its foreign relations which will certainly add up to the tourism industry in some or the other way. C:UsersHemalDesktop3c6e5d0499db540c0bff2b975f7fdbc0_LARGE.png Macro environment (PESTLE) Economical: Over the past recent years, Dubai has made a drastic change in its economy by becoming a major hub for the business and investors. Having had a strategic location it serves as a biggest re-exporting centre in the middle-east. Activities such as trade, tourism, transport, businesses, etc has made a huge contribution to the economy of Dubai. However, the major sector which contributes to the economy is crude oil (Govers Go, 2005, p. 77). Dubais gross economy was US $92.11 billion in year 2011. Where in the tourism industry of Dubai made 11% of the total economy. It has been seen that the total revenue generated by the tourism industry was up by 20% in the year 2011 as compared to 2010. Tourism industry made 15,965,011 in year 2011 while in 2010 it was 13,272,330. Dubais trade surplus has also been increased over the years, growing from $18 billion in 2007 to $31 in 2011. This indicates the strength of the export sector of economy. The hospitality industry is expecting a real boom in its mere future that is by year 2015. Targeting around 100,000 rooms for over 15 million visitors. On the other hand, Dubais foreign debt was estimated at approximately US $100. Having looked at all the facts and figures over the past recent years, there seems to be no economical problem in Dubai. In fact, the tourism industry will be one of the major contributors to the Dubais annual economy. Hence, there should be no worries for Dubai as a destination for the international tourists. Social: Social factors comprises of customs, social class, religion, culture and demographic variables such as age, gender, income and education level. (Hsu, Killion, Brown, Gross, Huang, 2008) According to ( DTCM, 2011a) Dubai has a population of 2,065,636 which consists more than 80% of expatriates population. Male : Female ratio is 2.2 : 1 It has very low or no crime rate record Eating of pork is a taboo in UAE National language of UAE is Arabic Dubai follows Islamic religion, however practice of all religions is allowed in Dubai. Dubai is doing well in terms of education; it has only 7% of illiteracy. Dubai is one of the fastest growing cities in the world and the average employment age is from 19 65 and which is expected to grow by 120% by 2016. Hence, this will definitely decrease the illiteracy rate of Dubai. Also, due to friendly nature of Dubai it has made a remarkable growth in the trading business and will continue to attract more and more investors in future. Technological: Technological factor is now one of the important aspects for any destination in the world of globalisation. Dubai has invested hugely in technology and infrastructures in last 20 years or so. It has got ample amount of attractions where the tourists can look forward to and make their visit to Dubai a memorable experience. Dubai has one major international airport, 2 seaports, specialised free zones, several industrial areas, etc. Dubai has 387 number of operating hotels (Figure 1.1) and 53,828 number of available rooms by the end of year 2011, (DTCM, 2011a). Dubai has worlds 4th tallest hotel named Burj Al Arab, standing 321 meters tall with around 70 floors. Recently established worlds tallest building named Burj Khalifa is 828 meters long in height and more than 160 stories. It holds the following records at international level: Tallest building in the world Highest numbers of stories in the world Tallest service elevators in the world Elevators with the longest travelling distance Tallest free standing building in the world Figure 1.1 C:UsersHemalDesktop1.png Dubai has recently introduced to technologies which are useful for the people travelling throughout the city. Installation of automatic fare system, route display, destination display system, electronic taximeters and complete management systems has made easy for the tourists to travel without any hesitation or trouble. Dubai government also introduced One Stop Information Centre (OSIC) where an individual can stop over and browse for all the information about Dubai in one go. Moreover, Dubai has done significantly well in its technology and infrastructure department so as to attract more and more number of tourists as well as investors with long lasting experience. Ecological: Dubai enjoys with undoubtedly one of the best locations on the planet earth. Having had exceptionally well looking beaches throughout the coast, Dubai has many more things to look which is artificial. Dubai has more than 3 artificial islands, namely, Palm Jebel Ali, Palm Jumeirah, Palm Deira and The world (which appears as a world map) from north to the south. Dubai has been voted with the cleanest water with Abu Dhabi and Muscat. Also, certain UAE cities like Dubai, Abu Dhabi and Sharjah have been rated the best cities to live, (Emirates news, 2012). Legal: UAEs seven emirates have their own government with proper municipality and authorities. There are laws where each and every individual must follow and it has been noticed that in a recent few years expatriates have failed to do it (Emirates News, 2012). There are few laws you should never break, for example: Clothing for womens should be conservative, no transparent clothing are allowed where as mens should cover their chest. There are few customs law where an individual cannot bring certain materials and are banned in UAE. For example, pornographic materials, drugs and anti Islamic materials. Consumption of alcohol is banned in public places but can be consumed in restaurants and bar and in hotels. Drink and driving is a big crime and anybody found guilty will be jailed. Procedure for environmental scanning: Relevant areas for scanning Medium Responsibility of Reporting to Time Competitors Tourists Hotels, DTCM, Government of Dubai Internet website of DTCM Annually Investors Hotels, business or organizations DTCM or Government of Dubai Weekly Hotels and resorts Managers of the hotel, frontline staff Stakeholders, General manager, Head of the department Daily Newspapers Hotels, businesses, entrepreneurs Journalists, Newspaper office, media Daily Customers Hotels and resorts Staff of the hotels Managers, Head of the department Daily Internet Staff and managers of hotels and resorts DTCM, government of Dubai Weekly Tourist Staff and managers of hotel DTCM, Government of Dubai Daily Economical GDP per capita Hotels, Businesses, entrepreneurs Government of Dubai Annually Revenue Hotels, entrepreneurs, investors DTCM, Government of Dubai Annually Currency exchange rates Banks, hotels Government of Dubai Daily Legal Minimum wage law Government of Dubai Human resources department Monthly Hospitality magazines/ Newspaper Hotels and businesses, entrepreneurs Media, Government of Dubai, Magazines and newspaper office Monthly Technological Infrastructure/ Technology Government of Dubai, Tourists, Locals Daily Situation analysis: Dubai has been exploring significantly in all aspects so as to attract more and more number of visitors in recent few years. However it has some strengths, weaknesses, opportunities and threats. Strength and weaknesses are internal whereas opportunities and threats are external (Hsu, Killion, Brown, Gross, Huang, 2008). Strengths: Oil companies, booming economy, politically neutral, unique beauty and hotels all around Dubai, safe and clean environment. Weaknesses: Negative image of the Middle East, lack of natural resources, only around 20% of UAE nationality population. Opportunities: Job opportunities for immigrants, increase in oil prices, increase in foreign investors, and development of MICE. Threats: Strong competitors are within the nation for example, Abu Dhabi, Sharjah and Qatar also international competitors such as Singapore and Hong Kong, limited media coverage. Hence, depending on current situation analysis Dubai is going through a booming phase of economy even after an economic downfall in year 2009. Identified are certain strengths and weaknesses with some opportunities and minimal threats where in Dubai can grow drastically as a tourism destination in its mere future. The economy from hotel industry as said earlier and in figure 1.1 shows an impressive growth of 20% in year 2011 as compared to year 2010. Certain factors that will bring in more international investors and tourists are new developments in infrastructure and technology. Dubai has emerged as one of the rapid growing cities and that too in a quick time span and hence it can be concluded that Dubai is becoming more popular internationally and also a best place to live in with extra ordinary attractions. Target market analysis: One of the major essences of marketing is customer oriented. Target marketing is the process of identifying and focusing marketing activities to those customers whose wants and needs can be satisfied by you the best. By target market process you have the potential to convert these customers as your guests of future providing you with hard cash and investments. An effective target marketing analysis will help you to arrange your resources for the market which would provide high return on marketing investments. Hence target market analysis is a very important and crucial part in the development and sustainability of any destination. It is important to note that target market analysis is always an ongoing process, it has to be done in a periodically. Dubai is already a developed destination in the Middle East region and has the competitive edge of being the first-mover over years. Dubai was very well successful to make it on the top of the worlds tourism destination map. The hotel market in Dubai has grown significantly over years which were backed up by infrastructure developments and huge amount of domestic and international investors. However with the beginning of the economic crisis emerging globally it was very natural that it would hit the major market source. Due to the unwelcomed situation grasping the region for quite a while Dubai not only needs but also was forced to rearrange the procedures and strategies of the hotel industry in the city which was suffering from a downfall in the occupancy rates. Dubais Department of Tourism and Commerce Marketing (DTCM, 2011b) have been trying very hard to position Dubai as not only a top tourist destination but also their aim is to develop it as a commercial hub. While conducting target marketing analysis it is important to conduct a competitive analysis with other destinations in the region. This comparison must include factors which attract customers than the competitors it might include climate, scenery, infrastructure etc. Market Segmentation: A market segment is a process of identifying potential customers by one or more characteristics. This is done to better understand the customer needs .Dubai as a destination has classified its customers on the basic of two categories as geographic and psychographic. Geographic segmentation: In geographic segmentation the market is divided into several geographical borders according to region, population, city size and climate. This is done to concentrate on particular consumer base since consumer behaviour varies across geographic territories. Hence it is important to consider geographic factors to target and attract the market specifically. Top 5 source market for Dubai The above pie chart describes the number of visitors on the basis of geographic area and the top source markets for Dubai. From the pie chart it is prominent that Dubai enjoys a high number of visitors from the South Asia region. It also has many visitors from AGCC region which is Arab Gulf country council .AGCC includes 6 countries which are Bahrain, Kuwait, Qatar, Oman, Saudi Arabia, and the United Arab Emirates. The least amount of visitors was from CIS which is common wealth of Independent States. South Asia is one of the most important segments for Dubai, since Asia has the largest piece of share Dubai has a very good opportunity to take over this target market and spread its roots even deeper. The above data is about the visitors coming to Dubai however it is also important to keep a track of the spending power of the source market (DTCM, 2011a). C:UsersFavYAppDataRoamingTencentUsers473793741QQWinTempRichOleXGNK{GK`}3}J][6L7$XUTRG.jpg According to the data above it is prominent that the tourist from the United Kingdom, United States and Saudi Arabia are by far the biggest spending geographic source markets in Dubai for their accommodation which accumulates to $124.9 millon, $82.1 million, and $70.5 million. This is equal to 63.2 percent of the entire category. Among the high spending countries that spend $10 million or more annually, Japan, Italy and France experienced negative growth of 16.6 percent, 7.3 percent and 1.2 percent respectively. However if we take an average spending on the accommodation sector the high spending countries are Russia ($683.54), Switzerland ($629.81) and Saudi Arabia ($551.40). The entire figures are retrieved from (DTCM, 2011a). Pshychographic segmentation: Pshychographic segmentation is a process or tool to group the people according to their activities, interests, lifestyle and opinion. Dubai is a very vibrant city hence it is very important to classify visitors based on their activities to better understand their needs and to develop the infrastructure demand. Henceforth the visitors visiting Dubai has been classified into the following categories:- Pshychographic Segments Characteristics Business Visitors Stay upto 5 days Have visited Dubai on a regular basis Make their own bookings rather than tour operators Look for safety, climate and value for money Airline and Ship Crew Stay upto one to three days Have visited Dubai before and travel regularly Have corporate arrangements for accommodation with the hotels. Stay in 2 star to 4 star hotels and some serviced apartments. Leisure Visitors Stay for 4 to 10 days Are visiting Dubai for the first time Make their own arrangements Prefer to stay at 5 star hotels while minor percent stay with friends and family Cruise Passengers Stay for two to three days Mostly visiting Dubai for the first time Accommodation is usually a part of the cruise package Visit neighbouring destinations like Oman, Bahrain and Egypt. Conference Visitors Stay for eight to fourteen days Are visiting Dubai on regular intervals Make their own arrangements Mostly stay at 5 or 4 star hotels Use Taxi too much as mode of transportation Working Expatriates Stay for more than a year Are usually visiting Dubai for the first time Have arrangements for their accommodation but not in hotels Contribute to the Culture and economy. The above diagram shows the percentage of physcographic segments in Dubai from all the visitors arriving to Dubai. It is important to note that overall, passenger traffic at Dubai International Airport the worlds fourth busiest airport rose 15 percent in 2010 as the global economy recovered. It was up 8.9 percent in the first half of 2011 despite high fuel costs and increased economic uncertainty in Europe and the US. Hotels in the UAE trade and tourism hub Dubai, known for the worlds tallest tower, reported a modest occupancy increase of 0.7 percent to 69.9 percent in May from the previous year. Potential markets profiles: From the facts and figures about the visitors coming to Dubai we can identify and describe the potential target markets for Dubai. After analysis of the data we have identified 3 major new markets for Dubai (DTCM, 2011a). The details of those nations are stated as follows China: In 2010 the visitors from china were found spending more in the country almost 155.3 percent more than they spent in 2009, according to visavue data. The major growth category in some of the segments included quick service restaurant category which inclined to a 361. Percent jump contributing to 31,519 spent in 2010.one of the other segment which was a growth was departmental store spending which went up by 210.8 Percent to $25 million. C:UsersFavYDesktopUntitled.jpg