Computer Technology in The Last 100 Years of Human History

The discussion about the most noteworthy creation inside the most recent 100 years of mankind's history isn't clear in light of the fact that various individuals base their expands on different models prompting resistances about the topic.Advertising We will compose a custom basic composing test on Computer Technology in The Last 100 Years of Human History explicitly for you for just $16.05 $11/page Learn More To address this discussion, this investigative article will attempt to convince a blended crowd as far as sexual orientation and age. The crowd will be made out of male and female undergrads matured 16 to 21 years. The contention supporting the theme will concentrate on a theory articulating that PC innovation is the most extreme development affecting the adolescent. The exposition will, likewise, feature how PCs impact more youthful ages valuably and unconstructively. The positive impacts of PC innovation on more youthful ages are inconceivable in spite of its conspicuous anta gonism. The fundamental reason for imagining PCs was to assist people with taking care of compound number juggling issues. The results of the innovation might be understood as far as VIP correspondence, space investigation, the Internet, email and the web, transmission, film creation and pretty much every part of human living. Following the creation and dispatch of PCs, each part of more youthful ages living has been influenced. The young use PCs in all parts of their living, for example, composing assignments, doing explore, imparting, tuning in to music, seeing films, and voyaging. In reality, the more youthful ages experienced their first PC before the birth through ultra sound examining during the pregnancy scan.Advertising Looking for basic composition on software engineering? How about we check whether we can support you! Get your first paper with 15% OFF Learn More Education Computer innovation is the establishment of contemporary instruction frameworks over the world. These days, understudies must have PCs aptitudes since speakers use PC advances, for example, screen projectors and online classes to educate. Besides, composing assignments involves the utilization of PCs thus does the accommodation of assignments for granting grades (Jacko and Sears 414). Work In the most evolved countries, understudies search for summer and low maintenance business openings utilizing PC innovation. Truth be told, cutting edge businesses and enlisting specialists require work candidates to present their accreditations electronically. Electronic accommodation is achievable by methods for utilizing PC innovation. With the presentation and development of PC innovation, contemporary work environments have encountered noteworthy changes. Most understudies are cheerfulness that they will secure position openings in the wake of moving on from universities or other tertiary establishments. PC innovation, for example, cell phone correspondence, video conferencing, and virtual wo rkrooms, have made an interconnected existence where laborers don't leave their places of living arrangement to go to their work (Jacko and Sears 416). Understudies ought to welcome the tremendous open doors the PC innovation presents the understudies with. Numerous understudies are grasping PC innovation in looking for some kind of employment to pay for school, lodging, and food (Jacko and Sears 415). Taking into account this, PC innovation has made independent work conceivable. Also, understudies who secure summer season positions in associations, for example, MacDonald’s, Starbucks, Wal-Mart and different organizations offering transiently work to understudies need PC innovation to speak with clients and senior managers.Advertising We will compose a custom basic composing test on Computer Technology in The Last 100 Years of Human History explicitly for you for just $16.05 $11/page Learn More Students, who don't have PC abilities, are probably going to battle hard to look f or some kind of employment. Interchanges Currently, pretty much every understudy has a PDA, email address, or asocial media account. These specialized instruments depend on PC innovation, and are the establishment of more youthful generations’ living. The adolescent invest more energy utilizing PC innovation than they do utilizing non-PC innovation. PC innovation has facilitated the saddling of the Internet, which shapes the premise of present day correspondence. Today, more youthful ages utilize the Internet to interface, work, and associate with one another (Girard and Girard 265). Paper readership has decreased due to PC innovation. Rather than more established ages, more youthful ages read papers less on the grounds that the last wants to peruse news things utilizing PC advancements, for example, PDAs, Smart Phones, and Tablets (OECD 44). Exploration has affirmed that more youthful ages keep on investing more energy utilizing cell phones for messaging or sending SMS (Wils ka 441). Cell phones base their functionalities on PC advancements, for example, Java and Android programs. PC innovation keeps on affecting more youthful age correspondence perspectives through TV broadcasting and films viewership. The size of the data dispersed through TV transmission, films screening and the Internet could help understand the impact of PC innovation on human communications.Advertising Searching for basic composition on software engineering? How about we check whether we can support you! Get your first paper with 15% OFF Find out More More youthful ages utilize these media source to get data, consequently, these ages are the most impacted by the innovation. PCs have empowered nonstop transmission of data over the globe (Castells, Fernandez-Ardevol and Qiu 161). While PC innovation has introduced immense advantages to the adolescent, it has its hindrances. The significant drawback of PC innovation is over reliance, which influences social turn of events. A considerable number of youngsters in universities and secondary schools are dependent on PC innovations, for example, PC games, Internet sex entertainment, and online networking. The youthful face the test of creating poor social aptitudes as some want to invest their recreation energy playing PC games and talking via web-based networking media as opposed to associating with individuals genuinely (Kirsh 377). PC innovations are reprimanded for making individuals inactive and decreasing their mind. An examination done in Britain set up that over half of kids matur ed under 12 years couldn't peruse time on a simple watch, yet could serenely recognize time on a computerized watch (Womack 1). Computerized watch utilizes PC innovation to show time. In addition, weight is another factor generally predominant in nations with high infiltration levels or utilization of PC innovation. Along these lines, idle ways of life, for example, staring at the TV, and playing PC games could be connected to PC innovation. These two parts of PC innovation for the most part impact youthful ages. PC innovation is hindering to the lives of more youthful ages since it comes up short. Since these ages over rely upon PC innovation, a little breakdown could prompt late offering of assignments, loss of work and cash, and increment in feelings of anxiety among other negative impacts. For example, a staff may plan an online assessment at 14:00, yet PC issues, for example, low Internet network, malware or infection contamination or a PC neglecting for sure (Andrews 245), cou ld mean rescheduling of the assessment for some other time or in another area. Such burdens lead to loss of time and assets. End The very idea of innovation connotes that PC innovation is the most noteworthy creation to occur inside the most recent 100 years of mankind's history. PC innovation impacts more youthful ages more than it does more established ages. PC innovation has been with man for approximately 50 years, yet its impact on parts of current social orders is vast. PC innovation is found wherever from present day banks, shopping outlets, instructive organizations to working environments. PC innovation remains the powerful and fundamental creation of the twentieth century. In any case, this innovation is as yet incipient in its capacities in spite of being 50 years of age. Before long, PC innovation will surpass different creations and significantly impact more human culture living viewpoints than it does today. Works Cited Andrews, Jean. A+ manual for equipment: overseein g, keeping up and investigating. Boston, MA: Course Technology, 2010. Print. Castells, Manuel, et al. Portable correspondence and society: a worldwide point of view. Cambridge, Mass: MIT Press, 2007. Print. Girard, John P and JoAnn L Girard. Social information: utilizing web based life to realize what you know. Hershey, PA: Information Science Reference, 2011. Print. Jacko, Julie A. furthermore, Andrew Sears. The human-PC connection handbook: essentials, developing advancements, and rising applications. New York: Routledge, 2003. Print. Kirsh, Steven J. â€Å"The impacts of fierce videogames on young people: The neglected impact of development.† Aggression and Violent Behavior 8.4 (2003): 377-389. OECD. News in the Internet age: new patterns in news distributing. Paris: Organization for Economic Co-activity and Development, 2010. Print. Wilska, Terhi-Anna. â€Å"Mobile Phone Use as Part of Young People’s Consumption Styles.† Journal of Consumer Policy 26.4 (2003 ): 441-463. Womack, Sarah. â€Å"Young youngsters can't read a clock on old clocks.† The Telegraph 17 September 2002: 1. This basic composition on Computer Technology in The Last 100 Years of Human History was composed and put together by client Alia K. to help you with your own investigations. You are allowed to utilize it for examination and reference purposes so as to compose your own paper; be that as it may, you should refer to it likewise.

Life Expectancy in Every Country

Future in Every Country The rundown underneath shows assessed future of each nation starting at 2015, as indicated by the U.S. Evaluation Bureau International Data Base. Future from birth on this rundown ranges from a high of 89.5 in Monaco to a low of 49.7 in South Africa. The worldwide normal future for the whole planet is 68.6. Here are the best five most elevated futures and the five least futures: Most noteworthy Life Expectancies 1) 89.5 years - Monaco 2) 84.7 years - Singapore (tie)â 2) 84.7 years - Japan (tie) 4) 83.2 years - San Marino 5) 82.7 years - Andorra Most minimal Life Expectancies 1) 49.7 years - South Africa 2) 49.8 years - Chad 3) 50.2 years - Guinea-Bissau 4) 50.9 years - Afghanistan 5) 51.1 years - Swaziland Future by Country Afghanistanâ -50.9Albania -78.1Algeria -76.6Andorra -82.7Angola -55.6Antigua and Barbudaâ -76.3Argentina -77.7Armenia -74.5Australia -82.2Austria -80.3Azerbaijan -72.2The Bahamasâ -72.2Bahrain -78.7Bangladesh -70.9Barbados -75.2Belarus -72.5Belgium -80.1Belize -68.6Benin -61.5Bhutan -69.5Bolivia -68.9Bosnia and Herzegovinaâ -76.6Botswana -54.2Brazil -73.5Brunei -77.0Bulgaria -74.6Burkina Faso - 65.1Burundi -60.1Cambodia -64.1Cameroon -57.9Canada -81.8Cape Verdeâ -71.9Central African Republicâ -51.8Chad -49.8Chile -78.6China -75.3Colombia -75.5Comoros -63.9Congo, Republic of theâ -58.8Congo, Democratic Republic of theâ -56.9Costa Ricaâ -78.4Cote dIvoire -58.3Croatia -76.6Cuba -78.4Cyprus -78.5Czech Republicâ -78.5Denmark -79.3Djibouti -62.8Dominica -76.8Dominican Republicâ -78.0East (Timor-Leste)â -67.7Ecuador -76.6Egypt -73.7El Salvadorâ -74.4Equatorial Guineaâ -63.9Eritrea -63.8Estoniaà ‚ -74.3Ethiopia -61.5Fiji -72.4Finland -79.8France -81.8Gabon -52.0The Gambiaâ -64.6Georgia -76.0Germany -80.6Ghana -66.2Greece -80.4Grenada -74.1Guatemala -72.0Guinea -60.1Guinea-Bissauâ -50.2Guyana -68.1Haiti -63.5Honduras -71.0Hungary -75.7Iceland -81.3India -68.1Indonesia -72.5Iran -71.2Iraq -71.5Ireland -80.7Israel -81.4Italy -82.1Jamaica -73.6Japan -84.7Jordan -80.5Kazakhstan -70.6Kenya -63.8Kiribati -65.8Korea, Northâ -70.1Korea, Southâ -80.0Kosovo -71.3Kuwait -77.8Kyrgyzstan -70.4Laos -63.9Latvia -73.7Lebanon -75.9Lesotho -52.9Liberia -58.6Libya -76.3Liechtenstein -81.8Lithuania -76.2Luxembourg -80.1Macedonia -76.0Madagascar -65.6Malawi -53.5Malaysia -74.8Maldives -75.4Mali -55.3Malta -80.3Marshall Islandsâ -72.8Mauritania -62.7Mauritius -75.4Mexico -75.7Micronesia, Federated States ofâ -72.6Moldova -70.4Monaco -89.5Mongolia -69.3Montenegro -78.4Morocco -76 .7Mozambique -52.9Myanmar (Burma)â -66.3Namibia -51.6Nauru -66.8Nepal -67.5Netherlands -81.2New Zealandâ -81.1Nicaragua -73.0Niger -55.1Nigeria -53.0Norway -81.7Oman -75.2Pakistan -67.4Palau -72.9Panama -78.5Papua New Guineaâ -67.0Paraguay -77.0Peru -73.5Philippines -72.8Poland -76.9Portugal -79.2Qatar -78.6Romania -74.9Russia -70.5Rwanda -59.7Saint Kitts and Nevisâ -75.7Saint Luciaâ -77.6Saint Vincent and the Grenadinesâ -75.1Samoa -73.5San Marinoâ -83.2Sao Tome and Principeâ -64.6Saudi Arabiaâ -75.1Senegal -61.3Serbia -75.3Seychelles -74.5Sierra Leoneâ -57.8Singapore -84.7Slovakia -76.7Slovenia -7.80Solomon Islandsâ -75.1Somalia -52.0South Africaâ -49.7South Sudanâ -60.8Spain -81.6Sri Lankaâ -76.7Sudan -63.7Suriname -72.0Swaziland -51.1Sweden -82.0Switzerland -82.5Syria -75.6Taiwan -80.0Tajikistan -67.4Tanzania -61.7Thailand -74.4Togo -64.5Tonga -76.0Trinidad and Tobagoâ -72.6Tunis ia -75.9Turkey -73.6Turkmenistan -69.8Tuvalu -66.2Uganda -54.9Ukraine -69.4United Arab Emiratesâ -77.3United Kingdomâ -80.5United States of Americaâ -79.7Uruguay -77.0Uzbekistan -73.6Vanuatu -73.1Vatican City (Holy See)â -No perpetual populationVenezuela -74.5Vietnam -73.2Yemen -65.2Zambia -52.2Zimbabwe -57.1

Use Thought Stopping to Reduce Anxiety

Use Thought Stopping to Reduce Anxiety Panic Disorder Coping Print Use Thought Stopping to Reduce Anxiety By Sheryl Ankrom linkedin Sheryl Ankrom is a clinical professional counselor and nationally certified clinical mental health counselor specializing in anxiety disorders. Learn about our editorial policy Sheryl Ankrom Updated on November 08, 2018 Christina Reichl Photography / Moment / Getty Images More in Panic Disorder Coping Symptoms Diagnosis Treatment Related Conditions One technique to help you manage the intrusive negative thoughts and worry that often accompany panic disorder, anxiety and agoraphobia  is called “thought stopping.” The basis of this technique is that you consciously issue the command, “Stop!” when you experience repeated negative, unnecessary, or distorted thoughts. You then replace the negative thought with something more positive and realistic. Identify Your Stressful Thoughts Start by monitoring your bothersome and unnecessary thoughts. Write down the thoughts that are causing you the most trouble and pick one that you would like to work on. Start with a thought thats easy to visualize and realistic to work on; you can tackle more complicated or abstract stressful thoughts as your skill with the technique progresses. Create Positive Thought Substitutions Write down positive statements and affirmations next to your stressful thought. For example, you can replace the stressful thought, “I’m so anxious, I’ll probably start to panic and embarrass myself if I accept the invitation to go to the concert,” with: I’ve been in anxious situations before and have succeeded.I am confident that I can control my anxiety and panic by using the relaxation techniques I have learned.I know that my medications are working to prevent me from having a full-blown panic attack.I will go to the concert and have a great time! Repeat and Replace Close your eyes and think about the stressful thought. Try to imagine yourself in a situation in which the thought may occur. Repeat it in your mind for about three minutes and shout “Stop!” This shout is your physical cue to turn your mind away from your imagination and toward a place of mental stillness. Let your mind relax and go blank for about one minute. If the thought intrudes, shout “Stop!” again. Recite your positive substitution statements and affirmations. Repeat these substitutions for about three minutes. Visualize your success in the stressful situation as you repeat your thought substitutions. As you re-visit this negative thought, the shout should fade to a normal voice, which fades to a whisper. After the whisper, you should think Stop in your mind.   Important Considerations For thought stopping to be effective, you must practice it throughout the day for several days. The unwanted thoughts are likely to continue to recur during the initial days of this exercise. They should, though, gradually diminish. Thought stopping may not work for everyone, and some psychologists think that the technique might actually make the problem worse. If you find that your stressful thoughts are becoming more frequent or if the exercise is producing increased anxiety, discontinue this technique and talk to your doctor or therapist. The 7 Best Online Anxiety Support Groups

Dolores Hayden A Feminist Critique Of Architecture And...

Dolores Hayden: Dolores Hayden is a professor of architecture and urban history, who’s 1980 essay What Would a Non-Sexist City Be Like? re-imagined the relationship between the suburb and the city. Hayden’s work formed a significant feminist critique of the modern day challenges facing women who had to balance varied responsibilities and navigate inadequately planned cities. Her vision of new urban communities beneficial to women’s activities became a response to the shortcomings of capitalist and patriarchal planning conventions. Her design proposals taook influence from the communitarian and socialist architecture she had researched for her 1976 publication Seven American Utopias. Hayden’s experimental HOMES project sought to combat gendered limitations and alter the boundaries between public and private space, advocating for communal domestic spaces, shared childcare and social cooperation. The scheme re-interpreted existing suburban neighbourhoods by disrupting divisions between the private dwelling and the workplace. Working from a socialist feminist perspective Hayden believed that the project’s habitation and operation should represent varied family structures and subvert unbalanced gender roles, with paid work and domestic responsibilities to be shared equally. The gendered division of domestic labour later formed the topic of her 1981 publication, The Grand Domestic Revolution, which provides further research into the history of domestic and communal space.

Security interest - Free Essay Example

Sample details Pages: 6 Words: 1910 Downloads: 1 Date added: 2017/06/26 Category Law Essay Type Review Tags: Act Essay Did you like this example? Perfection [of a security interest] is not invulnerability The Personal Property Securities Act 2009 (PPSA) regulates the perfection of security interest (SI). A SI is defined as an interest in personal property provided by a transaction to secure payment or performance of an obligation.1 SI is created when it is attached to the collateral where the grantor holds rights in the collateral or the power to transfer rights in the collateral to the secured party (SP), provided that a value is given for the SI.2 Perfecting a SI means publicising the SI. Perfection includes temporary perfection, or when the SI is attached to the collateral and it is enforceable against a third party, provided that the SI has been registered, or the SP has possession of the collateral, or the SP has control of the collateral.3S21(2)(c) of PPSA states that controllable collaterals include ADI accounts, intermediated securities, investment instruments, letters of credit, and shares. A dditionally, for the SI to be enforceable against third parties the SP must take possession or control of the collateral, or the grantor must have signed or adopted a security agreement containing the collaterals description.4 A perfected SI takes precedence over an unperfected SI in a priority contest of the collateral. 5 In Graham v. Portacom New Zealand Ltd [2004] 2 NZLR 528, the bank registered its SI and defeated the lessor who did not perfect its SI. However, being perfected does not mean that the SI is invulnerable. Perfection is subjected to several priority rules. Even if the SP has perfected its SI, it is possible that it might receive nothing or less than what it has given when the grantor defaults. When more than one SPs have perfected their SI in the collateral, the first perfected SI will prevail.6 The order of priority is determined by the occurrence of priority time such as the earliest of the registration time, the time the SP or another person on behalf of th e SP perfects the collateral by taking possession or control of the collateral, and the time the SI is temporarily perfected or perfected by the force of PPSA.7 PPSA also requires a continuous perfection of the collateral for the priority time to be valid.8 ___________________________________________________________________________ 1 Personal Property Securities Act 2009 (Cth), s 12(1). 2 Personal Property Securities Act 2009 (Cth), s 19. 3 Personal Property Securities Act 2009 (Cth), s 21. 4 Personal Property Securities Act 2009 (Cth), s 20. 5 Personal Property Securities Act 2009 (Cth), s 55(3) 6 Personal Property Securities Act 2009 (Cth), s 55(4) 7 Personal Property Securities Act 2009 (Cth), s 55(5) 8 Personal Property Securities Act 2009 (Cth), s 55(6) The Purchase Money Security Interest (PMSI) is an exception to the priority rules in S55 of PPSA. PMSI includes a SI that secures all or part of the collaterals purchase price and it can be taken by a person who gives value to enable the grantor to acquire rights in the collateral, to the extent that the value is applied to acquire those rights.9 A perfected PMSI has super-priority over a perfected non-PMSI SI that is granted by the same grantor in the collateral or its proceeds.10 Even though the non-PMSI SI has been perfected earlier, the priority is given to PMSI. To enjoy the super-priority, the PMSI must be perfected by registration when the debtor obtains possession if the inventory is goods or when the PMSI is attached if the inventory is of any other kind, and before the end of 15 business days since attachment of PMSI or possession being granted to debtor. 11 However in a case where there is a non-PMSI SI perfected by control, it will take precedence over a PMSI.12 For example, if a bank perfects its SI by taking control over the debtors property, it defeats any other methods of perfection, even though the control takes place in a later time. In the case where t wo or more SPs perfected their SIs by control, the SP who takes control first has priority.13 Another important factor to consider is that perfection by control is usually done by private agreement and therefore the perfection might not be publicised. 14 A seller, lessor or consignor who perfected its PMSI enjoys priority over other perfected PMSI by any other methods.15 The PPSA aims to protect them from the default of buyers or lessees. Therefore, in a priority competition between a lender and a supplier of goods, the supplier wins. This could place the lender in a bad position especially when the value of the collateral is less than the outstanding debt. In some circumstances, the SI is registered for perfection before it is created. For instance, if the SI is registered on 1 May and the attachment is on 5 May, the perfection is said to be on the date of attachment. However in a priority contest, the priority time is the date when the SI is registered.16 ________________ ___________________________________________________________ 9 Personal Property Securities Act 2009 (Cth), s 14(1)(a) and s 14(1)(b). 10 Personal Property Securities Act 2009 (Cth), s 62. 11Personal Property Securities Act 2009 (Cth), s 62(2)(b) and s 62(3). 12 Personal Property Securities Act 2009 (Cth), s 57 . 13 Personal Property Securities Act 2009 (Cth), s 57(2). 14 Horst EidenmÃÆ'Â ¼ller and Eva-Maria Kieninger, The Future of Secured Credit in Europe (Walter de Gruyter, Germany, 2008) p 150. 15 Personal Property Securities Act 2009 (Cth), s 57(2); see also Evan H. Krinick, Banks Security Interests vs. Consignors Claims: Unless Consignors Take Specific Steps Set Forth in UCC Section 2-326(3), Banks Typically Have Priority to Consigned Goods. (1999) Banking Law Journal, vol. 116, no. 8, pp. 718-728. 16 Personal Property Securities Act 2009 (Cth), s 55(5)(a). If the security agreement provides for future advance and the SI will have the same priority concerning all advances including future advances. 17 For example, on 1 June the bank registered its SI over the property of the debtor . The attachment and perfection take place when the security agreement is executed on 3 June. On 4 June the bank gives an advance and on 5 July it gives another advance to the debtor. Both advances given by the bank enjoy priority as they are covered by the 1 June registration. However the issue is that if another creditor lends money to the same debtor between 4 June and 5 July, he will lose priority to the bank, unless the he obtains a PMSI or control over the property. If a SI in the collateral is perfected but a SI in the proceeds is not perfected, the SI in the proceeds is temporarily perfected for 5 business days starting from the time the SI in the collateral attaches to the proceeds. Therefore, the SP must re-perfect the SI to have continuous perfection. 18 Sometimes there could be two SPs competing for the SI granted by two debtors. F or example, A has continuously perfected its SI in Fs property. F sells property to E without As consent and E grants SI in the property to B. The transferor-granted SI has priority over the transferee-granted SI. 19 This means if A perfects initially but does not continuously perfect its SI, or the SI is unperfected then B takes the property free of the SI. 20 A perfected SI in a good that has become an accession takes priority over the SI in the whole, unless the perfection of SI in the whole takes place earlier than the accessions SI perfection.21 If someone wished to perfect his SI in a truck, he would have to check whether or not the tyres are subject to any SI, or he might lose the tyres when the grantor defaults. Perfection of SI for crops which secures an advance for the production of the crops takes precedence over other SI in the same crops granted by the same grantor and the default rules in S55 will apply if there are more than one competing SIs.22 A SI arising under the statutory or general law such as non-consensual SI takes priority over a PPSA SI, provided that the SI arises in the ordinary course of business and the acquirer does not know that the acquisition is a breach of the security agreement. 23 ___________________________________________________________________________ 17 Personal Property Securities Act 2009 (Cth), s 58. 18 Personal Property Securities Act 2009 (Cth), s 33(2). 19 Personal Property Securities Act 2009 (Cth), s 66 and s67. 20 Personal Property Securities Act 2009 (Cth), s 43 (1). 21 Personal Property Securities Act 2009 (Cth), s 88, s 89 and s 90; see also s99 which states that the security interest continues in a product or mass although the identity of the initial good is lost in the manufacturing, processing, assembling or commingling process. 22 Personal Property Securities Act 2009 (Cth), s 85. 23 Personal Property Securities Act 2009 (Cth), s 73(1). There are some situations where the buyer or lessee of the property takes it free of SI and the SP still loses even though it has perfected its SI. 24 They take it free if they do not have knowledge that the property is subject to a SI, provided that the property is sold or leased in the ordinary course of the sellers or lessors business of that that kind of property.25 Another situation is that if the property may or must be described by serial number and the SP fails to disclose the serial number when registering its SI, the buyer or lessee eventually gets a clear title of the property, provided that the buyer or lessee does not hold the property as inventory or they are not a party to the transaction. 26 Also, without knowing that the transaction is a breach of the security agreement, a buyer or lessee takes free of the SI if the search of the register by serial number of the motor vehicle one day before the SP registers its SI does not reveal a registration.27 They also take personal, domestic or household property free of SI if the market value given to the property is no more than $5,000 or any prescribed amount by the regulations.28 These two situations only apply when the property is acquired for a new value. In conclusion, the PPSA does not entirely eliminate the risks that a SPs perfected SI may face when there are more than one SPs of the collateral or in the situation where the innocent third party can take the collateral free of SI. The perfection remains vulnerable until the current legislation is amended to enable the SPs to have a better protection of their SI when they have perfected the SI. ___________________________________________________________________________ 24 Jason E. Pauls, Priority and perfection of a security interest in a patent: does the Patent Act preempt the UCC?. (1998) Commercial Law Journal, vol. 103, no. 4, pp.450-470. 25 Personal Property Securities Act 2009 (Cth), s 46(1); see also Steven O. Weise, U.C.C. Article 9 Personal Property Se cured Transactions. (Uniform Commercial Code Survey). (1992) Business Lawyer, vol. 47 no. 4, pp. 1593-1644. 26 Personal Property Securities Act 2009 (Cth), s 44(1) and s 44(2). 27 Personal Property Securities Act 2009 (Cth), s 45(1). 28 Personal Property Securities Act 2009 (Cth), s 47(1). Bibliography Evan H. Krinick, Banks Security Interests vs. Consignors Claims: Unless Consignors Take Specific Steps Set Forth in UCC Section 2-326(3), Banks Typically Have Priority to Consigned Goods. (1999) Banking Law Journal, vol. 116, no. 8, pp. 718-728. https://primo-direct-apac.hosted.exlibrisgroup.com/UWA:TN_gale_ofa63269168. Graham v. Portacom New Zealand Ltd [2004] 2 NZLR 528. Horst EidenmÃÆ'Â ¼ller and Eva-Maria Kieninger, The Future of Secured Credit in Europe (Walter de Gruyter, 2008). Jason E. Pauls, Priority and perfection of a security interest in a patent: does the Patent Act preempt the UCC?. (1998) Commercial Law Journal, vol. 103, no. 4, pp. 450-470. h ttps://search.ebscohost.com/login.aspx?direct=truedb=lftAN=502468172site= ehost-live. Steven O. Weise, U.C.C. Article 9 Personal Property Secured Transactions. (Uniform Commercial Code Survey). (1992) Business Lawyer, vol. 47, no. 4, pp. 1593-1644. https://primo-direct-apac.hosted.exlibrisgroup.com/UWA:TN_gale_ofa13234428. 1 21270883 Don’t waste time! Our writers will create an original "Security interest" essay for you Create order

Struggling through the Great Depression in Toni Morrisons...

Toni Morrison was born Chloe Anthony Wofford in 1931 in Lorain, Ohio. Morrison grew up with a love of literature and received her undergraduate degree from Howard University. She received a master’s degree from Cornell University, she taught at Texas Southern University and then at Howard, in Washington, D.C., where she met Harold Morrison, an designer from Jamaica. The marriage lasted six years, and Morrison gave birth to two sons. She and her husband separated while she was pregnant with her second son, and she returned to Lorain to give birth. She then moved to New York and became an editor at Random House, specializing in black fiction. During this difficult and somewhat lonely time, she began working on her first novel, The Bluest Eye. Toni Morrison is qualified to write The Bluest Eye because it contains a number of factual elements. It is set in the town where Morrison grew up, and it is told from the point of view of a nine-year-old, the age Morrison would have been th e year the novel takes place. Like the MacTeer family, Morrison’s family fought to make ends meet during the Great Depression. Morrison grew up listening to her mother singing and her grandfather playing the violin, just as Claudia does. In the novel’s afterword, Morrison explains that the story developed out of a conversation she had had in elementary school with a little girl, who longed for blue eyes. She was still thinking about this conversation in the 1960s, when the Black is Beautiful movementShow MoreRelatedAnalysis of The Bluest Eye by Toni Morrison1756 Words   |  8 Pages In the novel, The Bluest Eye by Toni Morrison readers are taken throughout the daily lives of African Americans who are faced with numerous trial tribulations. Already facing the harsh reality that they were inferior to the white race. There were many families throughout this story that was faced with this stigma, however it seemed that the Breedloves had it just twice as hard. A series of social problems of which African Americans were victims to during the 1940s-1060s such as Rape, interracial

Sociology and Sociological Imagination free essay sample

Sociology is the study of human social relationships and institutions. Sociologys subject matter is diverse, ranging from crime to religion, from the family to the state, from the divisions of race and social class to the shared beliefs of a common culture, and from social stability to radical change in whole societies. Unifying the study of these diverse subjects of study is sociologys purpose of understanding how human action and consciousness both shape and are shaped by surrounding cultural and social structures. Sociology is an exciting and illuminating field of study that analyzes and explains important matters in our personal lives, our communities, and the world. At the personal level, sociology investigates the social causes and consequences of such things as romantic love, racial and gender identity, family conflict, deviant behavior, aging, and religious faith. At the societal level, sociology examines and explains matters like crime and law, poverty and wealth, prejudice and discrimination, schools and education, business firms, urban community, and social movements. At the global level, sociology studies such phenomena as population growth and migration, war and peace, and economic development. Sociologists emphasize the careful gathering and analysis of evidence about social life to develop and enrich our understanding of key social processes. The research methods sociologists use are varied. Sociologists observe the everyday life of groups, conduct large-scale surveys, interpret historical documents, analyze census data, study video-taped interactions, interview participants of groups, and conduct laboratory experiments. The research methods and theories of sociology yield powerful insights into the social processes shaping human lives and social problems and prospects in the contemporary world. By better understanding those social processes, we also come to understand more clearly the forces shaping the personal experiences and outcomes of our own lives. The ability to see and understand this connection between broad social forces and personal experiences what C. Wright Mills called the sociological imagination is extremely valuable academic preparation for living effective and rewarding personal and professional lives in a changing and complex society. Students who have been well trained in sociology know how to think critically about human social life, and how to ask important research questions. They know how to design good social research projects, carefully collect and analyze empirical data, and formulate and present their research findings. Students trained in sociology also know how to help others understand the way the social world works and how it might be changed for the better. Most generally, they have learned how to think, evaluate, and communicate clearly, creatively, and effectively. These are all abilities of tremendous value in a wide variety of vocational callings and professions. - Sociology offers a distinctive and enlightening way of seeing and understanding the social world in which we live and which shapes our lives. Sociology looks beyond normal, taken-for-granted views of reality, to provide deeper, more illuminating and challenging understandings of social life. Through its particular analytical perspective, social theories, and research methods, sociology is a discipline that expands our awareness and analysis of the human social relationships, cultures, and institutions that profoundly shape both our lives and human history. Development of Sociology Sociology is the youngest of the recognized social sciences. Auguste Comte in France coined the word sociology in his Positive Philosophy published in 1838. He believed that a science of sociology should be based on systematic observation and classification not on authority and speculation. This was a relatively new idea at that time. Herbert Spencer in England published his Principles of Sociology in 1876. He applied the theory of organic evolution to human society and developed a grand theory of social evolution. Lester F Ward an American published his Dynamic Sociology in 1883 calling for social progress through intelligent social action which sociologists should guide. All these founders of sociology were basically social philosophers. They proclaimed that sociologists should collect, organize and classify factual data and derive sound social theories from these facts. While they called for scientific investigation they did relatively little of it themselves. Emile Durkheim gave the most notable early demonstration of scientific methodology in sociology. In his Rules of sociological Method published in 1895,he outlined the methodology which he pursued in his study Suicide published in 1897. Instead of speculating upon the causes of suicide ,he first planned his research design and then collected a large mass of data on the characteristics of people who commit suicide and then derived a theory of suicide from these data. Courses in sociology appeared in many universities in the 1890s. The American Journal of Sociology began publication in 1895 and the American Sociological Society was organized in 1905. Whereas most of the early European sociologists came from the fields of history, political economy or philosophy many of the early American sociologists had been social workers, ministers and nearly all were from rural backgrounds. Urbanization and industrialization were creating grave social problems and these early sociologists were looking for scientific solutions. They saw sociology as a scientific guide to social progress. The early volumes of the American Journal of Sociology contained relatively few articles devoted to scientific description or research but carried many sermons filled with advice etc. By 1930s the several sociological journals were well filled with research articles and scientific descriptions. Sociology was becoming a body of scientific knowledge with its theories based upon scientific observation rather than upon impressionistic observation. - Significance Importance Of Sociology Sociology makes a scientific study of society: Prior to the emergence of sociology the study of society was carried on in an unscientific manner and society had never been the central concern of any science. It is through the study of sociology that the truly scientific study of the society has been possible. Sociology because of its bearing upon many of the problems of the present world has assumed such a great importance that it is considered to be the best approach to all the social sciences. Sociology studies role of the institutions in the development of the individuals: It is through sociology that scientific study of the great social institutions and the relation of the individual to each is being made. The home and family ,the school and educaton,the church and religion, the state and government ,industry and work ,the community and association, these are institutions through which society functions. Sociology studies these institutions and their role in the development of the individual and suggests suitable measures for restrengthening them with a view to enable them to serve the individual better. Study of sociology is indispensable for understanding and planning of society: Society is a complex phenomenon with a multitude of intricacies. It is impossible to understand and solve its numerous problems without support of sociology. It is rightly said that we cannot understand and mend society without any knowledge of its mechanism and construction. Without the investigation carried out by sociology no real effective social planning would be possible. It helps us to determine the most efficient means for reaching the goals agreed upon. A certain amount of knowledge about society is necessary before any social policies can be carried out. Sociology is of great importance in the solution of social problems: The present world is suffering from many problems which can be solved through scientific study of the society. It is the task of sociology to study the social problems through the methods of scientific research and to find out solution to them. The scientific study of human affairs will ultimately provide the body of knowledge and principles that will enable us to control the conditions of social life and improve them. Sociology has drawn our attention to the intrinsic worth and dignity of man: Sociology has been instrumental in changing our attitude towards human beings. In a specialized society we are all limited as to the amount of the whole organization and culture that we can experience directly. We can hardly know the people of other areas intimately. In order to have insight into and appreciation of the motives by which others live and the conditions under which they exist a knowledge of sociology is essential. Sociology has changed our outlook with regard to the problems of crime etc:It is through the study of sociology that our whole outlook on various aspects of crime has change. The criminals are now treated as human beings suffering from mental deficiencies and efforts are accordingly made to rehabilitate them as useful members of the society. Sociology has made great contribution to enrich human culture: Human culture has been made richer by the contribution of sociology. The social phenomenon is now understood in the light of scientific knowledge and enquiry. According to Lowie most of us harbor the comfortable delusion that our way of doing things is the only sensible if not only possible one. Sociology has given us training to have rational approach to questions concerning oneself, ones religion,customs,morals and institutions. It has further taught us to be objective, critical and dispassionate. It enables man to have better understanding both of himself and of others. By comparative study of societies and groups other than his existence ,his life becomes richer and fuller than it would otherwise be. Sociology also impresses upon us the necessity of overcoming narrow personal prejudices, ambitions and class hatred. Sociology is of great importance in the solution of international problems: The progress made by physical sciences has brought the nations of the world nearer to each other. But in the social field the world has been left behind by the revolutionary progress of the science. The world is divided politically giving rise to stress and conflict. Men have failed to bring in peace. Sociology can help us in understanding the underlying causes and tensions. The value of sociology lies in the fact that it keeps us update on modern situations: It contributes to making good citizens and finding solutions to the community problems. It adds to the knowledge of the society. It helps the individual find his relation to society. The study of social phenomena and of the ways and means of promoting what Giddens calls social adequacy is one of the most urgent needs of the modern society. Sociology has a strong appeal to all types of mind through its direct bearing upon many of the initial problems of the present world. - Socio-logical Imagination The Sociological Imagination The sociological imagination is the ability to situate personal troubles within an informed framework of larger social processes. Emile Durkheim Emile Durkheim was one of the founders of sociology. * Because they tried to understand the larger processes that were affecting their own personal experience of the world, it might be said that  the founders of sociology, like Marx, Weber, and Durkheim, exercised what C. Wright Mills later called the sociological imagination. * C. Wright Mills, a prominent mid-20th century American sociologist, described the sociological imagination as the ability to situate personal troubles and life trajectories within an informed framework of larger social processes. Other scholars after Mills have employed the phrase more generally, as  the type of insight offered by sociology and its relevance in daily life. Another way of describing sociological imagination is the understanding that social outcomes are shaped by social context, actors, and social actions. * the sociological imagination Coined by C. Wright Mills, the sociological imagination is the ability to situate personal troubles and life trajectories within an informed framework of larger social processes. Examples * An analogy can help us better understand what Mills meant by the sociological immagination. Think of a fish swimming in the ocean. That fish is surrounded by water, but the water is so familiar and commonplace to the fish that, if asked to describe its situation, the fish could hardly be expected to describe the water as well. Similarly, we all live in a social milieu, but because we are so  intimately  familiar with it, we cannot easily study it objectively. The sociological imagination takes the metaphorical fish out of the water. It allows us to look on ourselves and our social surroundings in a reflective way and to question the things we have always taken for granted. Karl Marx Karl Marx, another one of the founders of sociology, used his sociological imagination to understand and critique industrial society. Read More Rate This Content: Top of Form Good Needs Improvement Bad Bottom of Form Want help studying The Sociological Imagination? Get the Flashcards Create a Study Guide Take a Quiz The Sociological Imagination Early sociological theorists, like Marx (Figure 1), Weber, and Durkheim (Figure 0)), were concerned with the phenomena they believed to be driving social change in their time. Naturally, in pursuing answers to these large questions, they received intellectual stimulation. These founders of sociology were some of the earliest individuals to employ what C. Wright Mills (a prominent mid-20th century American sociologist) would later call the sociological imagination: the ability to situate personal troubles and life trajectories within an informed framework of larger social processes. The term sociological imagination describes the type of insight offered by the discipline of sociology. While scholars have quarreled over interpretations of the phrase, it is also sometimes used to emphasize sociologys relevance in daily life. C. Wright Mills In describing the sociological imagination, Mills asserted the following. What people need is a quality of mind that will help them to use information and to develop reason in order to achieve lucid summations of what is going on in the world and of what may be happening within themselves. The sociological imagination enables its possessor to understand the larger historical scene in terms of its meaning for the inner life and the external career of a variety of individuals. Mills believed in the power of the sociological imagination to connect personal troubles to public issues. As Mills saw it, the sociological imagination helped individuals cope with the social world by enabling them to step outside their own, personal, self-centered view of the world. By employing the sociological imagination, individual people are forced to perceive, from an objective position, events and social structures that influence behavior, attitudes, and culture. In the decades after Mills, other scholars have employed the term to describe the sociological approach in a more general way. Another way of defining the sociological imagination is the understanding that social outcomes are shaped by social context, actors, and actions. In his book by the same name, C. Wright Mills coined the same famous phrase sociological imagination, which is used throughout sociology today. The sociological imagination is the concept of being able to think ourselves away from the familiar routines of our daily lives in order to look at them anew. Mills defined sociological imagination as the vivid awareness of the relationship between experience and the wider society. It is the ability to see things socially and how they interact and influence each other. To have a sociological imagination, a person must be able to pull away from the situation and think from an alternative point of view. Read more about sociological imagination and the book with the same title. References: http://sociology. unc. edu/undergraduate-program/sociology-major/what-is-sociolo

Misogyny Hip Hop W Sources free essay sample

Tina Marble Misogyny In HIP Hop culture refers to lyrics, videos, or other aspects of hip hop culture that support, glorify, Justify or normalize the objectification, exploitation or factorization of women. Misogyny in hip hop music instills and perpetuates negative stereotypes about women. It can range from innuendos to stereotypical characterizations and defamations. Overt misogyny in rap and hip hop music emerged in the late sasss, and has since then been a feature of the music of numerous hip hop artists. Hip hop has had a considerable influence on modern popular culture, saturating mass media through music, radio broadcasts and a variety of other mediums. Gangster rap, the most commercially successful submerge of hip hop, has been particularly criticized and associated with misogyny. Others, however, contest the societal emphasis of misogyny In hip hop music, noting that misogynist and sexist themes are prevalent wealth other forms of popular discourse. We will write a custom essay sample on Misogyny Hip Hop W Sources or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The constant reference of women as blotches and hoes can be Interpreted as offensive or derogatory to women.However, showing women In a negative light appears in many music genres. The fact that it regularly occurs in hip hop is a scapegoat conservatives use to discredit hip hop music. Studies show that other music genres, such as rock music, contain more negative images of women, according to some studies. This is nothing new, Just as marketing and advertising companies have used sex to increase market share and earnings, because to be blunt, sex sells. Misogyny has become a sign of authenticity for some rappers, who use misogynistic lyrics and depictions of violence against women to prove that they are authentic gangs.Many artists view demeaning women as a way to assert their masculinity. Rappers are often considered fake if they distance themselves from hyper- masculine self-portrayals and hostile representations of women. Hip hop artists also use such lyrics to gain commercial success. Many lyrics have an Inherent distrust of women as a significant theme. Women are depicted as femme battles, gold diggers, and as lying about such things as their age or trying to get pregnant. Tuba Shakers Hell 4 A Hustler asks, Why plant seeds in a dirty pitch, waiting to trick me? Not the life for me.In addition, pimps are glorified and their ability to control and exploit women is praised. Authors also link the treatment of women in hip hop to troubled gender relations in inner-city Black and Hispanic communities. In an ethnographic study of inner-city Philadelphia neighborhood, a trend was evident of young men in such neighborhoods try to raise their social status and self-esteem by demeaning and exploiting women. Resulting from this study, it was also learned that, In many cases the more the young man seems to exploit women, the higher Is his regard wealth the group.Welter and Suborn (2009) have identified five common monolinguals themes In lyrics are as follows: (a) Derogatory naming and shaming of women, (c) Legitimating of violence against women, (d) Distrust of women, and (e) Celebration of prostitution and pimping. Men are praised if they abuse and exploit women . These insults seek to degrade women and keep them in their place. Sexual objectification is the most common misogynistic theme in rap music, according to the analysis of Wittier and Kabuki. Women are portrayed as only good for sex. Dry. Drew raps, Bitched anti sit but hoes ND tricks Get the buck out after youre done Violence is depicted as the most appropriate punishment for women who challenge male domination or simply disrespect men. Juvenile, for example, asks, If she thinks youre Joking, is she going get a quick choking? Physical violence and rape are considered fitting responses if women refuse sex or if they commit other offenses. Mine has also been criticized for his depictions of violence against women, Slut, you think I wont choke no where / Till the vocal chords dont work no more / Shut up slut, youre causing too such chaos. In the sasss audiences were endeared to and began to demand more violent and offensive lyrics and record executives were urging artists to write them. It is suggested that one of the reasons why artists use misogynistic lyrics in their music is that they have internalized the negative stereotypes about women that are prevalent in American society. African women were historically portrayed as annalistic sexual beasts and African males in a submissive role, giving in to wild instinct or bodily impulses. The initialization of such stereotypes may be a Seibel explanation of the hyper sexuality within certain hip hop music.Various authors have argued that misogyny is merely an outgrowth of the cultural acceptance of misogyny at large. Misogyny is a tried and true American tradition from which hip hop derives its understanding of how men and women should behave. Critics argue that hip hops misogyny and promotion of traditional gender roles reflect mainstream American values. Feminists suggest that misogyny in hip hop culture is not a black male thing, but has its roots in a larger pattern of hostility award women in American culture. Just listening to a track and hearing the word pitch continuously used, as in Jay Gs 99 Problems, on the surface structure, it appears as if it is a woman he is free of having problems from, when in actuality, it is a female canine dog he is referring to as the pitch. This is one example of where the context in which certain words are used has a huge impact on their interpretation. It is this writers view that yes; hip hop music is misogynistic in nature and is a sexist enterprise. The majority of Hip Hop that comes out today is misogynist and terrestrials.For the most part, Hip Hop and Rap began and has been a male- dominated genre (although there have been several successful female emcees like MS Late, Queen Latish, Ill Kim, etc. ) and has always had a blind element and been supported by urban clothing brands. I feel it is because Hip Hop and Rap music come from the streets, where the average person has nothing to look forward to but poverty and violence, which is why they dream fo r a better quality of life, (which in their minds) comes with cars, clothes, Jewelry, mansions, etc. Misogynist lyrics are taffeta indeed, but they do not represent a new trend in Black popular culture, nor do they differ fundamentally from woman hating discourses that are common among has been identified with masculinity, female artists have traditionally faced many barriers in entering hip hop and have been marginalia as performers. Despite this, many women rappers have found ways to contest and resist the objectification and exploitation of women in hip hop culture. Salt-N-Peep was one of the first all- female rap acts to provide pro-woman messages and critique double standards and grading images in hip hop.In her Grammar Award winning song U. N. I. , Queen Latish challenges male rappers who use the terms pitch and ho to refer to women. The question Who you calling a pitch? ends each verse of the song. You-You has dedicated much of her career to condemning hip hop misogyny. Many other women rap and rap -soul artists such as Lauren Hill, Eureka Baud, Missy Elliot have adopted a persona which opposes misogynistic representations of women in hip hop. However, some female artists offer no resistance to negative portrayals of women, ND in some cases appears to defend male rappers misogyny.

Carnival Case Issues Essays

Carnival Case Issues Essays Carnival Case Issues Essay Carnival Case Issues Essay SPRING 2013 – GLOBAL STRATEGY AND POLICY MAN4720009_2013S_11202: , Schwartz: Tuesday and Thursday 9:30 to 10:50 AM – LA 331 GLOBAL STRATEGY AND POLICY MAN4720009_2013S_11202 Spring, 2013 Prepared for Professor Harry Schwartz, March 14, 2013 by the following students: Robert OndercikZ8384Finance Ron AbrahamZ4458Accounting Jenna FranzoneZ3483Business Management Tabitha Palmisano Z0857Marketing Jeffrey VonZ7035Accounting Aaron SchneiderZ0653Business Management Sabine BorgesZ7510Accounting 1. Current Situation: CRITICAL CASE ISSUES Human Relations (CI #1) Employee and Labor Lawsuits Employees of Carnival are claiming unfair working conditions with poor compensation. (CI #2) Succession Mr. Arison stepping down in the future, who will run company, third generation Arison or someone else. Operation/Logistics (CI #3) The Costa Concordia Cruise Ship lawsuit Cruise ship laying on side, environmental risk, and lawsuits from crash. (CI #4) The Carnival Triumph dead at Gulf of Mexico Pending lawsuits from this event, leading to more negative publicity (CI #5) US Corporate Tax Congress continues to try to charge Corporate taxes on Carnival, but has failed recently. This could change soon. Marketing CI #6) Serving on 20 % of Americans It becomes expensive for customers to get to ports to cruise, discouraging some customers from cruising. Carnival Corporation plc is currently the largest cruise company in the world and is among the most profitable and financially strong leisure travel companies in the world. Carnival Corporation PLC’s portfolio of cruise brands in North America, Europe, Australia and Asia are comprised of Carnival Cruise Lines, Holland America Line, Princess Cruises, Seabourn, AIDA Cruises, Costa Cruises, Cunard, Ibero Cruises, PO Cruises (Australia) and PO Cruises (UK). Collected, these brands operate 100 ships totaling 203,000 lower berths with nine new ships scheduled to be delivered between March 2013 and March 2016. Carnival Corporation PLC is the only group in the world to be included in both the SP 500 and the FTSE 100 indices. A. CURRENT PERFORMANCE Carnival reported net income for the year 2012 decreased to $1. 3 billion compared to $1. 9 billion for the prior year due primarily to a combination of lower revenues and higher fuel prices. Revenues declined $410 million primarily as a result of the Costa Concordia incident. Net revenue yields declined 2. 5 percent due primarily to lower cruise ticket prices and occupancies for the Costa brand. Excluding Costa, Carnival was able to maintain year 2012 net revenue yields in line with the prior year. Even with the many challenges faced in 2012, Carnival generated $3 billion of cash from operations, more than enough to fund our net capital investments of $1. 8 billion. All of the subsequent free cash flow was then returned to shareholders. Carnivals regular quarterly dividend of $0. 25 per share, combined with a special year-end dividend of $0. 50 per share, resulted in $1. 2 billion of distributions to their shareholders. Carnival also purchased 2. 6 million of the company’s shares in the open market at a cost of $90 million during 2012. B. STRATEGIC POSTURE * Carnival remains dedicated to profitably growing our cruise business and driving returns on capital higher. Carnival will continue to increase their fleet through a measured pace of two to three new ship introductions each year. Some of these vessels are expected to replace existing capacity from the possible sales of older, less-efficient ships * Currently, Carnival has nine cruise ships scheduled for delivery through March 2016. * In addition, Carnival is focused on the growth of developing cruise regions. During the previous five years, Carnival has doubled their guest sourcing fro m up-and-coming markets, a trend Carnival expects will continue in the future. CI #6) * Carnival and its Operating Lines place the uppermost importance on guest health, safety and security. Carnivals objective is to maintain an exceptional health, safety and security record. As well as constantly strive to better our health, safety and security standards and procedures. (CI #3 and 4) 1. Mission â€Å"Carnival Corporation plc mission is to take the world on vacation and deliver exceptional experiences that appeal to a large variety of consumers, all at an outstanding value. † 2. Objectives To our stakeholders, this mean: Consumers | Take the world on vacation and deliver exceptional experiences that appeal to a large variety of consumers, all at an outstanding value| Employees | Recruiting and Retaining Qualified Employees. Carnival considers their employee and union relations generally to be good| Business Partners | Carnival shall communicate with our business partners frequently to ensure that we receive high-quality products and services and that our ships receive the goods and services that they need to operate sustainably. Shareholders| The strength of their people, values, culture and mission has driven superior returns for their shareholders. A dollar invested in Carnival stock 25 years ago would be worth 19 times that today, representing a total return almost twice that of the SP 500 over the same period. | Communities | Carnival strives each and every year to make a difference in their homeports and various regions around the world in need. During the past year Carnival Corporation plc gave nearly $10 million to charitable organizations, including a $2 million donation to support Hurricane Sandy relief efforts. | 3. Strategies * Carnival now has its ships in ports that are within reasonable driving range for a good portion of the country. Galveston, San Diego, Mobile, New Orleans, Charleston, Baltimore and New York all have Carnival ships sailing from their ports, making it cheaper and easier for more Americans to cruise. CI #6) * Identify those managers responsible for implementing health, environmental, safety and security performance and ensure that there are clear lines of accountability. (CI #3 and 4) * Promptly report and properly investigate all incident and take appropriate action to prevent recurrence (CI #3 and 4) * Establish and act upon goals and objectives to continually improve our performance * Continue to publicly report to and maintain open dialogue and cooperation with key stakeholders (CI #3 and 4) * Carnival operates Under Section 883 of the Internal Revenue Code; certain non-U. S. corporations (such as our North American cruise ship businesses) are not subject to U. S. federal income tax or branch profits tax on U. S. source income derived from, or incidental to, the international operation of a ship or ships. (CI #5) * Since defueling on Costa Concordia began until 7 a. m. Feb. 17, a total of 251,492 gallons of fuel have been pumped out of 4 tanks located on the ship. (CI #3) * According to Costa Cruise, a total of 377,237 gallons of fuel is still onboard in 13 tanks. Following the schedule drawn up by the Neri/Smit Salvage experts, if sea and weather conditions remain favorable, all of the fuel still on board the vessel should be removed within three weeks. (CI #3) * Carnival has several defined contribution plans available to most of their employees. Carnival also has single-employer defined benefit pension plans, which cover some of their shipboard and shore side employees. (CI #1) 4. Policies Protecting the health, safety and security of Carnivals passengers, guests, employees and all others working on behalf of the Company * Protecting the environment, including the marine environment in which Carnivals vessels sail and the communities in which we operate * Continue to follow Carnivals Corporate Standards which go considerably beyond the requirements of current environmental law and regulations. * Carnival is primarily a foreign corporations engaged in the business of operating cruise ships in international transportation. (CI #5) Key Executi ves: Mickey Arison: Chairman and CEO of Carnival Corporations David Bernstein: CFO and senior Vice President of Carnival Corporations Howard S. Frank: Vice Chairman and Chief operating officer Alan B. Buckelew: CEO and President of Princess cruises Gerald R. Cahill: CEO and President of Carnival Cruise lines Larry Freedman: Chief Accounting Officer and Vice President-Controller Michael Thamm: CEO of Costa Crociere, S. p. A. Arnaldo Perez: Senior Vice President, General Counsel and Secretary Stein Kruse: President and CEO of Holland America Line David Dingle: CEO of Carnival UK Michael Ungerer: President of AIDA Cruises Board Members: Mickey Arison: (Internal) President since 1979 and CEO since 1990 Howard Frank: (Internal) Vice Chairman of the board of directors of Carnival Corporations since 1993, and Chief Operating Officer since 2003. Pier Foschi: (Internal) on the board of directors for Carnival Corporation since 2003. Chairman and CEO of costa crociene SpA. A vice chairman of confitama, the federation of Italian ship owners. Robert Dickinson: (Internal) Director of Carnival Corporation since 1987 and of carnival plc. since 2003. He served as president from 1993-2007 and CEO of Carnival cruise lines from 2003-2007. Jonathon Band: (External) Director of Carnival Corporation and Carnival plc. Since 2010. Stuart Subotnick: (External) Director of Carnival Corporation since 1987 and of carnival plc. Since 2003. Richard Glasier: (External) Director at carnival corporation and carnival plc. since 2004. From 1995-2002 he was executive vice president and CFO of royal Caribbean cruises. Arnold Donald: (External) Director of carnival corporation since 2001 and a director of carnival plc. ince 2003. Modesto Maidique Ph. D: (External) Director of Carnival Corporation since 1994 and of carnival plc. since 2003. He also served as FIUs president from 1986-2009. John Parker: (External) Director of Carnival Corporation since 2003 and of Carnival plc. since 2000. He served as Deputy Chairman of Carnival plc. from 2002-2003 Laura Weil: (External) Director of Carnival Corporation and carnival plc. since 2007 Peter Ratcliffe: (Ext ernal) Director of Carnival Corporation since 2003 and director of Carnival plc. since 2000. 003 to 2007 he served as the CEO of PO Princess cruises. Randall Weisenburger: (External) Director of Carnival Corporation and Carnival plc. since 2007 Debra Kelly- Ennis: (External) Elected to the committee of the carnival Corporation and carnival plc. in January 2012. Conflicts of Interest: Richard Glasier was once the CEO of Argosy gaming and although no longer the CEO he still is a chairman and major shareholder of the company. Argosy gaming mostly deals with casinos but also operates riverboat gambling cruises. There is a definite conflict of interest because he is not only concerned with the success of Carnival Corporation but also Argosy gaming success as well. Even though he is not the CEO anymore he still converses with the top management of Argosy and is up to date about what’s going on within the company as well as knowing about what’s going on in Carnival too. This means he might have information on the companies such as release dates for new ships or new specials that he cannot share with the board members of the other company and if he did it would be ethically wrong. Therein lies the conflict of interest, if he was not on both board then there would be no conflict. Being on both boards is a conflict of interest because he is not only concerned with the success of Carnival but also Argosy gaming as well. Since 2010, Start Subotnick has been the president and CEO of Metromedia. Metromedia is a holding company that has many subsidiaries that operate in various activities such as restaurants, internet, software technology, and more. The main conflict of interest for Subotnick is that Metromedia develops software for the hospitality industry. Since Carnival uses hospitality software to perform most tasks such as when you get checked at the port to the server on the cruise ship placing your dinner order, it would be in Subotnicks best interest to try to get Carnival to use Metromedia’s software. This is a conflict of interest because it might not be what’s best for the Carnival but it what’s best for Metromedia. Mickey Arison: Mickey Arison, CEO and chairman of Carnival Corporation is #64 on Forbes billionaire list in the United States. His father ted Arison founded carnival cruises in 1972. Mickey started working for the company in sales. He quickly moved up the ranks not just because of who his father was but because he was hard working and had great ideas. In 1979 he became president and finally in 1990 he became the CEO and he currently still holds that position. He turned carnival into what it is today, which is the world’s largest and most successful cruise ship company. Mickey said the best lessoned he learned from his father was to â€Å"hire good people to run your businesses, give them the support they need to be successful, and let them do the job you hired them to do. He is known for his â€Å"hands-on† or â€Å"open door management style. He lets his employees’ do their own thing because he knows that they will do it right and he doesn’t have to be watching over them in order for things to get done because he hired the right people. Micky Arison goes above and beyond what a manager does. He is to say the least a competent manager. His company has been the most successful and r ecognizable cruise line in the world for over two decades. Arison learned the basics of the company from the bottom so he could really understand the company and make better decision for the company as a whole down the road. He directed his company to make many acquisitions, including their most important, the acquisition of the PO princess cruises. Royal Caribbean also wanted to acquire the line so it was not an easy fight. Luckily for Arison they got it and with the acquisition it made them a clear industry leader. David Bernstein: David Bernstein Started with carnival in 2003 as vice president and treasurer. He was then promoted in 2007 to senior vice president and CFO. AS CFO and VP of carnival he overlooks all finance, treasury, insurance, accounting, tax, and investor relations. Howard Frank: Howard frank has been Vice Chairman of the board of directors of Carnival Corporations since 1993, and Chief Operating Officer since 2003. He is responsible for the corporate-wide business strategies. He works closely with all carnival corporation management, especially with Mickey Arison. He provides oversight to Mr. Arison of the companies many worldwide ventures. He also serves as a chairman of the executive committee of the cruise line international association. (CLIA) Partnership Management: Based on the information gathered the Carnival Corporation shows a partnership management model. They have many characteristics of this model. There is a high degree of involvement by top management and an equally high degree of involvement from its board members especially since their CEO is also their chairman and they also have a few other top guys on the board. * This enables the top management and board members’ to work more closely with each other to develop strategies and to co nverse on a daily basis about the many things going on in the company. * Howard frank who is the vice chairman of the board is known for working closely with all management of Carnival Corporation plc, As well as with Micky Arison himself, the CEO and chairman of carnival. When disaster strikes the company’s senior management team and board members take on the responsibility for what’s going on and work together to come up with the best strategy to fix the problem. * Also the board creates committees by matching certain members’ functions to their expertise. For instance, David Bernstein was promoted to senior vice president and Chief financial officer in 2007 because of his expertise in finances. He was the CFO of Cunard line and Seabourn cruise line for five years and before that he held various financial positions at royal Caribbean for seven years. Carnivals board consists of 15 members. 3-A. External Environment: Opportunities and Threats A. Natural Physical Environment: Sustainability Issues 1A. Opportunities a. The climate could be a benefactor since nice weather usually attracts tourism and cruising. 1B. Threats a. When the weather is not pleasant on the coasts of the United States, there may be a negative impact on the num ber of cruise ships sailing since the shipping ports are located in these areas. For example, during the hurricane season, cruises along the Atlantic and Gulf coast do not set sail due to danger the storm may bring. . The weather in places like Europe, is not as threatening when it comes down to storms compared to the United States. This lessens the degree of one threat in the European market for Carnival cruise lines. B. SOCIAL ENVIRONMENT 1. Opportunities Economic: * | Potentially expand their luxury liners which can cause an increase in revenue. (CI#2)| * | Increase their capacity of their cruises by 30-40%. (CI#2) | * | Offer more travel destinations that they currently do not offer, such as China, India, and various countries in South America (CI#2) | Technological: | Improvement of the technology on the cruise. | * | Working on their home web page since millions of people visit this site daily. They can improve their format so that it would be better understood and easier to n avigate by people in foreign countries. | * | Using more technological machines for the cleaning staff; for example, to check off each room that was cleaned or is in need for something, such as towels, toiletries, blankets, etc. (C#1)| Political-legal: * | Avoiding paying some of the taxes that other companies in the same industry pay for. CI#5)Ship waste disposal is highly unregulated; waste is dumped off shore without any consequences from a legal point of view. (CI#5)| Sociocultural: * | The diversity of customers that are traveling with Carnival Cruise Lines for their vacation get-away is very large. (#CI2)| * | Brand name is well known among the society. | * | Reached an agreement with Italys Fincantieri shipyard to build a 2,660-passenger vessel for Holland America and a 4,000-passenger vessel for Carnival. Ships should be delivered by 2015. This will generate more revenue in the future. CI#2)Some people take a cruise with carnival just to gamble in the casino because some sta tes do not have any casinos at all. | 2. Threats Economic: * | Prices of fuel constantly increase. (CI#6)| * | One of the biggest weaknesses that the company and the industry itself are facing is hurricanes and bad weather during specific seasons. Revenues go down, refunds go up. | Technological: * | Technological problems on-board which can be a big threat for Carnival. For example, the latest incidence was last month. Carnival ship was stuck at sea for almost a week because of technological mishaps. This caused many lawsuits, refunds, and a bad reputation for the brand. (CI#1)| | | Political-legal: * | Progressive accumulation in water waste caused the cruise line to pay millions in fines. | * | More regulators are trying to force Carnival and other cruise line companies to pay more taxes. (CI#5)Major law-suits of the sinking Costa Concordia. (CI#3)| | | Sociocultural: * | Seasick; some people can’t take a cruise because they get seasick after a while. People that suffer from this generally do not board lengthy cruises. | * | Most people do not eat at the higher class restaurants because the dining room is complementary. Most passengers are generally not looking to spend more money on a cruise that was already paid for and clearly states that it is â€Å"all inclusive†. (CI#6)| * | For some people cruises can be very pricy. (CI#6)| | | 2. Some of these opportunities and threats are different in other parts of the world because of different climate, economical issues, and different regulations. III. Internal Environment: Strengths and Weaknesses A. Corporate structure 1. Carnival Corporation and Carnival plc operate under a dual listed corporation structure with primary stock listings in the United States and the United Kingdom. Carnival corporate structure is based on the concept of â€Å"profit center. † a. The decision making authority is decentralized. b. The corporation is a fleet organization worldwide. For the most part, most of Carnival business runs in North America and Europe. 2. Carnival keeps telling its employees this phrase: â€Å"do one thing and do it better than anyone else†. Well that could sound very promising, but from a personal experience I enjoyed royal Caribbean a lot more than I did with carnival. Whatever the CEO preaches to the employees does not really justify the truth. To clarify, Micky Arison the CEO of the company quotes: Carnival doesn’t view a cruise the way Procter Gamble would view toothpaste or Dial would view soap. Each of Carnival’s lines has its own personality and corporate focus. (CI#2) 3. The current structure of the company is pretty much consistent with all of its objectives, strategies, policies and programs, as shown and seen in their financial report their profit keeps increasing. (CI#2) 4. The structure of Carnival cruise is very similar to the other cruise companies that strive to succeed and make money. B. Corporate culture 1. Carnival Corporation maintains a friendly, family-like atmosphere on all of its ships. I agree to this based on my previous experience on their ships. ( CI#1) 2. In my opinion, the corporate culture is consistent with current situations of objectives, strategies, policies and programs. They have an â€Å"open door† policy where each and every employee can communicate with upper division managers and let their voice to be heard, and the reason for that is to benefit the employee and potentially even benefit the company. CI#1) 3. â€Å"Unique to the cruising industry is its promotion to protect the environment. The core values include preserving the marine environment and, in particular, the pristine condition of the waters upon which our vessels sail. † This statement is posted on the Carnival website and is the biggest flaw that I have noticed with the company. They are constantly polluting the water, dumping trash into the water, and they contri bute a great deal to air pollution. Therefore the statement above is not accurate. (CI#4) 4. Carnival employs a variety of different kinds of people from various different cultural backgrounds. Many employees that work for Carnival have different ethnic backgrounds but are all being treated equally(CI#1) 5. The company does take into consideration the value of cultures of each nation the company operates in. This is shown in the diversity of Carnival employees and their cultural backgrounds from all around the world. (CI#1) 3-B. Corporate Resources Finance IV. All numbers in millions except for ratios | 2012| | 2011| | 2010| | | Carnival| RC| Carnival| RC| Carnival| RC| Revenues| 15,382| 7,688| 15,793| 7,537| 14,469| 6,753| Operating Income| 1,642| 403| 2,255| 932| 2,347| 803| Net Income| 1,298| 18| 1,912| 607| 1,978| 515| Net Profit Margin| 8. 4%| 0. 2%| 12. 1%| 8. 1%| 13. 7%| 7. 6%| EPS| 1. 67| 0. 08| 2. 42| 2. 80| 2. 47 | 2. 4| OperatingCash Flows| 2,999| 1,382| 3,766| 1,456| 3,818| 1,663| Debt to AssetRatio| 39%| 58%| 38%| 58%| 39%| 60%| V. Financial Analysis The chart above displays a list of relevant figures and ratios for the Carnival Corporation. It is important to highlight that some of these numbers show increasingly negative results each year. If this negative trend continues it would represent a significant problem for the company, as it would become unprofitable. But how does Carnival compare to others in the industry? Two key players dominate the cruise industry. According to a report by Cruise Market Watch, Carnival Corporation controls 48% of the market share, Royal Caribbean controls 23%, while the rest is controlled in small portions by over 30 other companies (Cruise Market Watch). By generating double the revenues of Royal Caribbean, Carnival is clearly the leader in this industry. For the purpose of this section of the paper, we analyzed the financial statements of Carnival Corporation to measure the health of the company. We will also use financial ratios which best allow us to compare Carnival side by side to its smaller but closest competitor, Royal Caribbean. A notable decline can be seen in the operating income. This figure is considered by analysts to be one of the most important on financial statements because it reflects to a great extend the strength of the company and success of its core business operations (Kennon). Operating income is arrived at by subtracting operating costs and expenses from gross revenues. It is the profit that is left to invest, expand, pay debt, distribute to shareholders, and achieve other objectives that a company may have (Kennon). For Carnival Corporation, Operating income declined 27% from 2011 to 2012. Let’s see why. Carnival mainly generates its revenue from the sale of cruise tickets and onboard items and services (Carnival). Although revenue has remained stable in the past years, operating income has been declining which indicates that the company is making less and less profit of the revenue it generates. This could be due to several reasons, but in the case of Carnival Corporation, there are two major factors. One is the rising price of fuel. Cruise companies are heavily dependent on fuel and any change in its price has a significant impact on the company’s financials (Carnival). From 2011 to 2012, the carnival’s fuel expense increased 7% or $188 million. Another factor that has affected profits for the company is accidents. In its annual report for fiscal year ending 2011, Carnival Corporation included a note to its shareholders regarding the tragic event of the Costa Ship (Carnival). It states that the company takes careful measures to prevent accidents such as the Costa cruise incident (Carnival). In the 2012 Income Statement, Carnival Corporation reported $28 million for â€Å"ship incident-related expenses that were not covered by insurance, including a $10 million insurance deductible related to third party personal injury liabilities (Carnival) CI#3. It is safe to expect that in the 2013 financial statements, Carnival Corporation will again report incident expenses not covered by insurance and possibly higher ones due to the â€Å"Triumph† ship incident CI#4. Although Carnival’s decline in operating income is significant, Royal Caribbean’s 56% decline truly is worrying. Even though Royal Caribbean had nothing to do with the Costa ship incident, there were indirect consequences that affected the company. Royal Caribbean had to report a $413. 9 million impairment loss because â€Å"booking volumes and pricing are down substantially in Spain due to the impact of additional austerity measures there, the lingering impact of the Costa Concordia tragedy and other factors†(Royal Caribbean). Now let’s compare the two companies in terms of efficiency generating profit. The profit margin ratio shows how much after-tax profits are generated by each dollar of sales (Kennon). It is a good indicator of how efficiently a company manages its resources and how well it keeps costs under control. Carnival Corporation has an 8% profit margin. In other words, of every dollar that the company receives from sales, only eight cents represent profit. With expenses increasing more than revenues each year, a low profit margin represents another sign of potential unprofitability. However, taking into consideration Royal Caribbean’s 0. 2% profit margin, which means that they keep much less than a penny for every dollar they sell, Carnival Corporation is performing much better than Royal Caribbean. Off course, there are additional expenses that are not calculated in operating income like interest and tax expenses. It is worth mentioning that carnival corporation currently does not pay any U. S. federal income taxes because it qualifies for the benefits of section 883 of the Internal Revenue Code (Carnival). Section 883 basically states that some non-U. S. corporations that generate income from the operation of ships are not subject to federal income tax in the United States (Carnival). However, the closing of this tax loophole could become a potential threat for Carnival, as it would significantly affect their net income in subsequent years CI #5. Senator Jay Rockefeller of West Virginia confronted representatives of the cruise industry in a hearing last year (Walker). Senator Rockefeller questioned why Carnival, a company that sells to many American and extensively benefits from the resources of forty U. S. ederal agencies, gets to pay no federal income taxes (Walker). Let’s analyze the Debt to Asset ratio, measured with total assets and total liabilities. Carnival Corporation has a 38% Debt to Asset ratio which by itself represents an okay picture. More specifically this means that debt was used to finance 38% of the assets. On the other hand, Royal Caribbean has a 58% debt to asset ratio which indicates that the company m ay run into problems borrowing more money in the future. For its debt, Carnival paid $336 million in interest in 2012, a healthy amount compared to the $2. 3 billion operating income (Kennon). Operating income divided by interest expense gives us interest coverage ratio, which indicates problems when it is below 1. 5 (Kennon). But carnival has a 4. 8 interest coverage ratio which means that there is still room for earnings to decrease before the company would default on bonds and loans for not being able to keep up with interest (Kennon). But will Carnival be able to meet short-term liabilities? The current ratio is short-term indicator of the company’s ability to pay its short-term liabilities from short-term assets; how much of current assets are available to cover current liabilities (Kennon). A healthy current ratio is greater than 2, but for Carnival Corporation’s is only 0. 25 which indicates that meeting current obligation could be a problem for the company (Kennon). But again we see that Royal Caribbean may have a bigger of a problem since their current ratio is only 0. 08. Another important factor to point out from the financial statements is that operating cash flows show a declining trend. From 2011 to 2012, cooperating cash flows declined 20%. What this means is that unless the current trends change, the company may start running out of cash and become unable to fulfill its obligations, which could lead the company into filing for bankruptcy. Interestingly, Royal Caribbean’s cash flows also declined 20%. However, it is worth mentioning that cruise companies have the advantage of receiving money for unearned revenues because cruise tickets are generally paid in advance. It’s like getting loans at 0% interest. Another important figure to analyze is Earnings per Share (EPS), which is especially important to stockholders. Carnival’s $1. 67 EPS means that if net income was divided amongst all outstanding shares, investors would receive $1. 67 per each share owned. Although a good EPS does not necessarily represent company strength or weakness, its changes affect the price of a company’s stock and therefore it is one of the most looked at figures by investors (Kennon). Based on EPS only, Royal Caribbean may not be an attractive choice of stock since their EPS is only $0. 08. Corporate Resources Marketing Product (Service) Carnival sells cruise tickets for vacations around the globe. Although Carnival markets the experience on the cruises as the vacation destination, their ships go to hundreds of destinations worldwide. Carnival sells numerous products and services onboard either directly or through independent concessionaries from which a commission is collected. Some of the onboard products and services offered that are not included in the ticket price include â€Å"liquor and some non-alcoholic beverage sales, shore excursions, casino gaming, gift shop sales, photo sales, full service spas, communication services, art sales, a wide variety of dining options and laundry services† (Carnival). Moreover, Carnival offers shore excursions and activities, and depending on the destinations, it owns or has stake in hotels where customers are offered a stay in a vacation package. In addition, carnival owns or leases private islands where it operates â€Å"among other things, beach bars and restaurants, water sports, sky lifts, cabana rentals and a surf rider attraction† (Carnival). Promotion: Carnival’s annual report states that each of its brands has â€Å"comprehensive† advertising programs designed to attract the local market. The principal mediums used for marketing and advertising are television, magazine, radio, outdoor billboards, direct mail, e-mail, online websites, online advertising and social media† (carnival). Social media’s utilized are facebook, Twitter, YouTube and Pinterest. In 2012, Carnival’s facebook pages reached over five million â€Å"likes†. In addition, Carnival has â€Å"past guest recognition programsâ₠¬  designed to give past guest’s incentives such as reduced prices and gifts in order to create customer loyalty. Price: Through its many brands, ships, and packages, Carnival claims to provide an option for every generation, taste, lifestyle, and off course, budget. The company categorizes their â€Å"cruise experiences† as contemporary, premium, and luxury. A contemporary experience is the cheapest and most casual alternative, lasting a week or less. A premium experience is designed for experienced consumers with an emphasis on quality, comfort and style and lasts from a week to two weeks. The most expensive alternative is the luxurious, which provides high standards of accommodation and service in a smaller cruise. All cruise tickets include dining and entertainment but other options are available at additional prices. Carnival’s brands all offer special promotions, early booking or past guest recognition programs that reduce the regular price of a vacation. But regardless of the type of experience and discounts taken, cruise ticket prices can vary due to many factors including demand and season. To have little bit of an idea of prices we went through the steps of booking a vacation on carnivals website. The first thing we noticed on the carnival-U. S. website was a sale of â€Å"up to $200 off + free upgrades for 3-5 day sailings† or â€Å"up to $400 off + free upgrades for 6+ day sailings. Using this sale, for travel in July and departing from Miami on a cruise to Bahamas, the cheapest alternative per person came out to be $330. On the other hand, high-end vacations can cost thousands of dollars. Place: Consumers can always book their cruise vacation directly on the company’s website. But according to Carnival Corporation, their cruise vacations are sold â€Å"mainly through travel agents, including wholesalers, general sales agents and tour operators that serve our guests in their local markets† (Carnival). Accordingly, the company puts a lot of emphasis on their relationship with travel agents. Carnival provides additional commission incentives to travel agents in order to motivate them to sell more of carnival’s vacations. Carnival also provides agents with educational tools such as training seminars, online courses, and videos for them to better understand and sell Carnival’s products and services (Carnival). . TASK ENVIRONMENT Threat of New Entrants: medium * Economies of scale: expansion of current companies is the greatest weapon against new entrants. The few leading companies, Carnival, Royal Caribbean, ; Disney, purchase or build larger ships or renovate older ships. Carnival, the leading giant of the industry, â€Å"As of January 20 11, the company operated 98 cruise ships with a passenger capacity of 191,464 berths. The company operates through four segments: North America cruise brands; Europe, Australia and Asia (EAA) cruise brands; cruise support; and tour and other. (â€Å"Global hotels†, 2012) * Government regulations: as a global industry, it is very difficult for government of any particular countries to impose regulations. Therefore lack of enforcement or adherence to regulations regarding employment, safety, and health requirements make it less bureaucratic for a new entrant. * Capital requirements: large capital is required to own and maintain a ship. * Product differentiation: many companies offer a variety of theme cruises to attract or cater to different needs or preferences. It is an opportunity for a new comer although quite difficult to grasp. Access to ports cannot be so easily obtained. There are very few ports embarkations in populated cities. Giant companies sometimes share ownership of ports when they financially contribute with state government to build them. Rivalry: medium high * Capacity growth: the cruise industry is driven by capacity maximization; every square inch of space must be utilized to accommodate and maximize the experience of the passenger. * Service characteristics: cruises and ships are designed to cater to the various ‘wants’ and preferences of different demographic around the world. Many cruise lines difference themselves by the amenities or destinations they provide or offer. This uniqueness in the service adds an edge to the competitive field. Creativity is key in designing cruise themes that respond to or attract unexploited market niches. * Rate of industry growth: based on various reports the industry is growing at a much slower pace in North America than Europe and Australia. The slow growth may be because of the economic downturn that we are facing or it may be the result of how difficult it is for the cruise industry to reach the wallets of more Americans. Number of competitors: the industry is somewhat fragmented and few competitors have a hand in multiple niches. Competition is very high in the industry because they are fighting for a bite of a pie that is already small. The companies try to maximize their revenues by offering attractive prices and exotic destinations to customers. (Lester, Thyne, ; Weeden, 2011) * Switching cost: can be high or low ba sed on the type of cruise that is analyzed. Threat of Substitute Products or Services: medium high * Existence of substitutes: land-based vacations are the biggest threat to the industry. The cost is half or one third less expensive, the vacationer has more control in land than over sea, greater sense of security towards land than sea. Although land transportation does not provide the sea experience that a cruise does, it is by far preferred to sea transportation. Also, a cruise is considered a luxury item and can be compared to the purchase or acquisition of luxurious items such as jewelry, high-class automobiles or whatever else discretionary money is used for. A cruise is not a necessity; it is a choice, a reward or a gift to oneself or loved ones. The rating of medium high is mostly due because of the fact that choosing a cruise over a road trip, a flight, a hotel is determined by preference and affordability. * Switching cost: the only cost is the loss of the experience of the cruise. Power of Buyers: medium low * As a luxury item, the cost of a cruise is not negotiable. The expectation of a high cost is lightly brushed with the hope that a cruise will not drain a savings account. The buyer does not have a significant influence on the price. Prices are more inelastic than elastic. Backward integration is quite impossible, the capital necessary to lease or purchase a ship is over tens of thousands dollars. Average passengers cannot afford it. * Alternative suppliers do exist but high product differentiation does not allow the buyer to compare oranges with oranges, more likely the buyer has a choice between grapes or oranges. Moreover, the same company under different names may offer different theme or budget cruise. Cruise com panies own more than one cruise lines, therefore choosing one cruise line over another may not represent a competitor’s advantage. Carnival and Royal Caribbean cater to different income brackets, Windstar offers exotic destinations for adventurers, Disney Cruise Lines are more family oriented. (Deep sea, 2012). * Due to the hefty price of a cruise, the buyer has a high expectation about the service. The demands and expectations of buyers greatly influence the marketing techniques and expansion projects that cruise companies undertake. Brand recognition is a magnet to create and retain customers and helps increase demands. Power of Suppliers: medium high * Supplier dominance: only a few companies build ships, provide staff and services to cruise companies. Forward integration for suppliers is less likely but backward integration for the cruise line industry is highly possible. Carnival uses backward integration to reduce costs and retain control of how its ships are built. * Product and services that the suppliers provide to cruise lines is very unique and specific to that industry; switching cost is high. What t hese suppliers make or produce can only be sold to the cruise industry. * Economies of scale: purchasing industry is very important to the supplier. All the major cruise companies own at least 5 to 10 cruise lines; which strengthen their purchasing power. However, there are not that many suppliers to choose from. Having limited purchasing options, increases the power of the suppliers. Relative Power of Other Stakeholders: very high * Special interest groups: environmental activists voice their concerns to the industry and directing their attention to fuel emissions, waste water dumping and few others. Thousands gallons of sewage and water bathroom water are discharged untreated in the ocean daily. Onboard observers are placed on ships that use ports in Alaska to ensure that wastewater is sanitized before being dumped in the ocean (Klein, 2011). In his article, Klein also indicated in his article that the daily fuel emission of one cruse ship could be equivalent of that of thousands of cars. * Loyal customers: their perception regarding the safety of the industry affects their decision about whether to use discretionary money on a cruise or elsewhere. It also taints their views of the brand recognition. They are less likely to refer that cruise line or to become repeat customers. * Travel agencies: most cruises are sold and advertised by travel agencies. Travel agencies are described by Cruise Lines International Association (CLIA, 2011) as ‘the distribution channel offering the best service† to the cruise industry. * Government regulations: even though some of the big companies have headquarters in the USA, they are incorporated in Antillean territories such as Panama, Bahamas, and Virgin Islands. Doting a ship with a flag registered in countries like Liberia and Panama, becomes a convenient avoidance tool that shields the cruise companies from adhering to labor and environmental laws, health and safety regulations, and most importantly avoid paying corporate taxes. Airlines industry: they provide means of transportation to different ports (from one state or one country to another), when airfares are high, it adds to the cost of transportation to a port. To overcome this dependence more ports are being built in areas that can be driven to. * Local communities: when a cruise ship arrives at a destination, the community of that foreign location receives the passengers. How passengers and the cruise line are received affect how the cruise experience is perceived. * Global workforce: many describe the work environment as ‘sweat ship’ and it does not project positively on the companies. In the cruise industry, employees are in contact with passengers 24 hours a day and for several days; an unhappy or miserable employee is contagious. It does affect indirectly the bottom line of the company. Lack of respect, living quarters, rigorous demands of the job, being underpaid, language and culture differences separate the cruise workforce from the visibles and the invisibles. The cruise industry is part of the service sector; an unhappy, mistreated, undervalued workforce does not contribute to a pleasant experience for the passenger (Agaard, Larsen, ; Marnburg, 2012). SWOT ANALYSIS Strengths:1- wide variety of theme cruises Case issue #6 2- largest ship capacity Case issue #63- backward integration4- heavily invest in marketing Case issue #65- experienced managenent Case issue #1, #3 ; #4| Weaknesses:1- Corporate culture regarding ship workforce Case issue #12- PR handling of current sea tragedies Case issue #3 ; #43- HR: employee training and recruitment Case issue #1| Opportunities:1- partnership with travel agencies Case issue #62- leader in environment protection ; safety Case issue #3 ; #43- Adopt a global standard of ethics ; conduct Case issue #14- develop a positive rapport with ship workers Case issue #15- treat labor force as valuable contributors Case issue #1| Threats:1- Extra costs (taxes, cleaner waste water) Case issue #52- slow growth of North American market3- workforce motivation Case issue #14- land-based transportation and hotel resorts Case issue #65- brand recognition mudded by sea tragedies Case issue #3 ; #4| MODIFIED TOWS SO Cross referencing * The capability of backward integration puts Carnival in a better position to build ships that are safer friendlier to the environment while controlling costs. S3, O2 Case issue #3 ; #4 * Experienced management can develop standards that could help improve the workforce environment on board. S5, O3, O4, O5 Case issue #1 * Sharing marketing techniques with travel agents may improve and strengthen their relationship. O4, S1. W2, O2, Case issue #3 ; #4 * Treating employees as valuable contributors helps HR in their recruitment strategy. W3, O5 Case issue #1| ST Cross referencing * Experienced management can use their expertise to create a working environment that empowers and values the ship employees. S5, T3 Case issue #1 * Marketing techniques is the best weapon to weaken the threat of substitutes and ‘clean’ the brand. S4, T2, T4. T5 | WT Cross referencing * When morale is low, ‘the ship may sink’. Employees are the foundation of companies, the weaker the base, the less solid is the company. W1, W3, T3 Case issue #1 * A PR is the voice of the company. After a tragedy, responsibility, reassurance, and compensation is key in re-building confidence. The opposite drills the hole deeper. W2, T4, T5 Case issue #3 ; #4| 5. EVALUATE STRATEGIC ALTERNATIVES Alternative #1 Pause/Proceed with Caution Strategy: Proceed with caution until they are able to evaluate how the new tax and fuel regulations will affect the company and how to go about decreasing lawsuits due to employee exploitation and onboard guest safety. (CI #1, 3, 4, 5) Pros: * Customers will continue to do business with Carnival if they feel that they are working to improve the ship’s safety. * Employees put forth more effort if they do not feel as though the company is taking advantage of them and increased motivation from the staff can increase the company’s bottom line. Cons: * Only making small changes gives the competition a chance to catch up. * Nothing can be done to stop new regulations, so the company is bound to lose profits if there is an increase to fuel prices and taxes. Alternative #2 No-Change Strategy: Since Carnival Corporation ; PLC has the largest ship and passenger capacity in the cruise industry with many diverse brands they can continue to do what they have been doing and hope they remain ahead of the competition even with the replacement of Mr. Arison in the future (CI #2). Pros: * Carnival is already one of the most profitable cruising companies with a 47% market share in the UK, 68% in Italy, 51% in Germany and 45% in France, so they are dominating the global market competing mainly with Royal Caribbean. * Doing nothing new gives the company time to fix some of the current issues. Cons: * Competition could pass and take control of market if Carnival sits idly by especially with growing customer concerns about safety of the ships. Profits are already decreasing from previous years so doing nothing new could keep the company from enjoying profits that could be acquired with innovative ideas. Alternative #3 Horizontal Growth Concentration Strategy: Carniva l can increase operations in the current European market as well as reaching out to new regions (CI #6). Pros: * Carnival derives a majority of its revenue (nearly 52%) from US customers which is currently on the decline, so it would be beneficial to tap into other markets around the world. * Carnival already has market presence in Europe, so it would not be as difficult to increase capacity in that region as opposed to starting fresh somewhere else. Cons: The value of the dollar against Euro appreciated from 1. 60 in January 2010 to 1. 53 by April 2010 against the Pound. If the dollar strengthens it would record lower revenue than is actually earned. * The European economy is also faltered, so profits are not guaranteed and an increase in operations could instead cause a company lose. RECOMMENDATION I would recommend that Carnival begin with the pause and proceed with caution strategy for at least 1 to 2 years. This would give them time to get the company back in line with the aspi ration of earlier business days when the safety and satisfaction of customers and employees came before the profits of the corporation (CI #1,3). Once they are back on track I would then recommend for Carnival to go forward with the horizontal growth. It is in their best interest to reach out to untapped markets particularly since there is a decline in the current US regions and they are looking for ways to increase revenues since Carnival is only currently reaching 20% of the total US market (CI #6). Growing horizontally in any market has significant financial implications for a cruise company. Considering that the newest Carnival Dream-class ships cost $740 million each (Shipcruise. org), it is a very expensive strategy to implement. In addition, the company would have to engage in research, planning, training, and marketing activities which can be very costly. Because Carnival’s balance sheet shows $465 million in cash, it will most likely be necessary for the company to borrow money to finance their growth. But borrowing money would not cause any problems for Carnival Corporation because as we analyzed earlier, the company has a healthy interest coverage ratio which measures the ability to pay interest on outstanding debt (Kennon). Although it is costly and risky, investing the money to expand into new and existing markets now, Carnival would have the potential to increase its revenues in the future years to offset the increasing costs. Carnival is already in the process of building two new ships to be entered to service in 2013 and 2014 and estimates that these two new ships will increase their passenger capacity by 19% (Carnival). Also, a continuous growth by the largest company in the industry could drive some of its competitors out of business and capture a larger market segment. 6-A. Implementation After an extensive in-depth review of the Carnival Corporation ; PLC, it is apparent, as with any large corporation it has many strengths and weaknesses. Carnival and its subsidiaries have a dominating; nearly 50% market share and strong support base among its customers. With plenty of loyal customers, and many recognizable and respected brands it would  appear to have few  problems. However, despite all the good attributes, several recent negative events have arisen concerning both  safety and corporate concerns, which have shaken the company and its shareholders. 6-B. What must be done?  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   1. Shareholder Confidence  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   2. Safety Concerns  ·Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   3. Improvements and New Ship Building Action Steps| Responsibility| Start-End  | Financial impacts| Questions? | Concern:| WHO? | WHEN? | HOW MUCH? | What Must be done? |   |   |   |   | | 1. Shareholder Confidence| Micky Arison (CEO), Upper Management| 4/1/13-Ongoing| Determine Future Earnings|   | 2. Safety Concerns| Upper Management,Howard S. Frank (COO)| 4/1/13- 12/31/13| Cost of Training and current safety assessment|   | 3. Improvements and New Ship Building| Upper Management, Design Team,David Bernstein (CFO)| 4/1/13- 4/1/16| Set budget for cost of research| Shareholder Confidence Over the last 5 years Carnivals stock price has  collapsed. Granted, the worldwide economy has endured one of the worst periods in history, but In 2008 the stock was trading roughly 15% higher than what it is today, and between that time it fell as much as 70% to the 2009 lows. I believe Micky Arison (CEO) should be focusing on how to re-energize and grow the company in the face of some very difficult times. I believe this could be achieved by continuing to expand to new entrant markets in Asia, Europe and Australia. The United States has been saturated for some time, with little growth and shrinking profit margins due to fierce competition. In addition the company must provide a great experience for clientele in order to ensure repeat business, which is essential to Carnivals success. Safety Concerns Over the last couple years Carnival has experienced several bad events and even worse publicity. This has caused many to suspect wrong doings and create concerns over safety. Incidents like the MS Costa Concordia in 2012, which was one of the worst  disasters in modern cruising history, in which 34 people were killed and the ship was a total loss costing nearly 600 million dollars are a nightmare for a cruise line. In a more recent case, the Carnival Triumph endured an engine fire disabling the ship and causing the boat to be stranded at sea for several days. Although no one was hurt, it  caused a severe inconvenience to the passengers and crew. Tales of rotten food and overflowing toilets ran for several days on international media. Safety should always be of utmost concern with any industry. The last thing people want or need is to have a feeling of insecurity  on a vacation. Cruises overall have been very safe for many years but still in the back of many people’s minds the thought of the Titanic lingers. Carnival needs to make sure people know that safety is  the top priority of the Carnival Corporation. Although it shouldn’t be pushed to the point where people get scared, it definitely needs to be continuously addressed. Carnival needs to constantly implement the most modern safety techniques and they must educate the crew how to keep passengers as safe as possible. Improvements and New Ship Building Because of the fierce competition in the cruise industry it is vital to constantly upgrade older ships and build larger and more desirable new ships with more features and amenities. A new trend in the industry over the last couple decades is to build bigger and bigger ships. Cruise lines such as Royal Caribbean have been very successful over the last decade by initially building  100,000 Gross Tons ships. Since then the Oasis Class that is well over 200,000 Gross Tons has been put in service. Carnival and its subsidiaries aren’t necessarily building the biggest ships but they are uilding larger ones as well. I believe this is very important because more and more people are going on cruises for the entertainment rather than the ports. Many cruise goers are like the typical individual who want th e newest and the best and this is the reason it is pivotal for Carnival to keep up with the new trends of constant upgrades and services. 6-C. How should it be put into action? Action Steps| Responsibility| Start-End  | Financial impacts| Questions? | Concern:| WHO? | WHEN? | HOW MUCH? | How should it be put in action? |   | Micky Arison (CEO), Howard S. Frank (COO), Upper Management| 4/1/13| Determine budget in conjunction with finance dept. | Concerning safety, it must be a top priority to follow the standard government mandated procedures, which are given to the entire Cruise Industry. Carnival can go above and beyond this by simple measures such as drills and employee training. They can go beyond the recommend amount of life jacket and lifeboat requirements. I believe the biggest concern is to hold top officials such as the Captain responsible for such disasters as the MS Costa Concordia. Carnival is doing a great job in terms of shipbuilding and upgrades. They have kept up with the competition so in my personal opinion I believe the company needs to make security a given so that passengers focus on the amenities of the cruise ship. The company should also take guest recommendations seriously and look at what competitors such as Royal Caribbean are doing in newer ships and follow as well. As for the Shareholders it is important for Carnival to insure that it is strong and well managed, generating consistent profits and growth. This is very important to any shareholder and I believe this can be achieved by expanding to new markets in  Asia, Europe and Australia. Logistics is also important to have available ships to move to these new ports to expand. 6-D. Who should do it and when should it take place? Action Steps| Responsibility| Start-End  | Financial impacts| Questions? | Concern:| WHO? | WHEN? | HOW MUCH? | Who Should Do it and when should it take place? |   | Micky Arison (CEO) Howard S. Frank (COO), Upper Management,  | 4/1/13| Determine budget in conjunction with finance dept. | Carnival and its subsidiaries future expansion and safety goals need to be implemented and enforced at senior management levels in order for the employees to know that it truly is important to the companys success. It takes a strong leader to do what’s necessary for future growth and fend off new fierce competition within the industry. It is important to start as soon as possible because the competitors within the industry will try to take advantage of Carnivals recent problems. I believe safety is a big concern with two major issues within a year of each other. This has brought bad press and will most likely follow up with loss of customers in the future. 6-E How much will it cost? Action Steps| Responsibility| Start-End  | Financial impacts| Questions? | Concern:| WHO? | WHEN? | HOW MUCH? | How much will it Cost? |   | Upper Management,Micky Arison (CEO),David Bernstein (CFO)| 4/1/13| Set budget for cost of research| Modern cruise ships  cost no less then 250 million dollars, with the most expensive costing well over 1 billion dollars. Carnival as well as the rest of the industry has absorbed these costs by constantly upgrading ships every year or two rather then building many ships at once. They also have sold older ships to other cruise lines, or even created new cruise lines with their older ships to cut costs and continue making more money with new locations around the world. As far as safety is a concerned it shouldn’t cost much considering a large amount of the cost of new cruise ships is equipping them with the most modern safety equipment available. It is very important for the employees be able to use and know this safety equipment because it is worthless if the staff doesn’t know how to use such equipment. Work Cited Carnival PLC. (2012, March 03). Carnival corporatoion ; plc 2012 annual report. Retrieved from http://phx. corporate-ir. et/phoenix. zhtml? c=140690;p=irol-reportsother2 Carnival PLC. (2010, March 03). Carnival corporatoion ; plc 2010 sustainability report fiscal year 2010. Retrieved from http://phx. corporate-ir. net/phoenix. zhtml? c=140690;p=irol-sustainability_env Carnival Corporation ; PLC. 2012 Annual Report. Washington, DC. Mar ch 7, 2013. http://phx. corporate-ir. net/phoenix. zhtml? c=140690;p=irol-reportsother4 Carnival Corporation. 2006 ;Retrieved from http://phx. corporate-ir. net/phoenix. zhtml? c=200767;p=irol-history; Morningstar 2013 ;Retrieved from http://insiders. morningstar. com/trading/board-of-directors. action? =CCL;region=USA;culture=en-us; The Financial Times Ltd. 2013 ;Retrieved from: http://markets. ft. com/research/Markets/Tearsheets/Directors-and-dealings? s=CCL:NYQ; How Much Does a Cruise Ship Cost to Build. Ship Cruises. N. p. , n. d. Web. 13 Mar. 2013. shipcruise. org/cruise-articles/489-cruise-ship-cost Kennon, Joshua. Investing Lesson 4: Income Statement Analysis. About. com Investing for Beginners. N. p. ,n. d. Web13Mar. 2013. http://beginnersinvest. about. com/od/incomestatementanalysis/a/income-statement-analysis. htm Market Share | Cruise Market Watch. Cruise Market Watch RSS. N. p. , n. d. Web. 12 Mar. 2013.