Profit and Loss Essay Example for Free

Profit and Loss Essay Profit and loss accounts, balance sheets Profit and loss accounts, balance sheets Two of the most important financial statements for a business are the Profit and Loss Account, and the Balance Sheet. The Profit and Loss Account shows the profit or loss of a business over a given period of time e. g. 3 months, 1 year, etc. In contrast, the Balance Sheet is like a photograph taken at an instant in time giving a picture of what the business owns and what the business owes at that moment in time. As we shall see it will always balance because what the business owns is financed by what the business owes. The Profit and Loss (PL account) Net profit takes account of other sources of income and expenditure that are not involved in normal operations e. g. interest paid on loans and interest received on having a positive balance in a bank account. Turnover is the value of sales made in a trading period. It is some eferred to as sale revenue and is calculated by the average price of items sold x the number sold. Cost of sales calculates the direct costs of manufacturing items, or buying in items to sell them on. Expenses are the overhead costs of running a business. These overheads cant be tied down to particular cost units. For example, it would be very difficult to calculate what fraction of the heating cost of a pen factory can be allocated to just one pen. The Balance Sheet is a statement showing the assets, liabilities and owners capital of a business at a particular Downloaded from The 100 Edition http://www. he100. co. uk moment in time, for example the year end. The Balance Sheet balances because the assets t hat a business possesses at a specific time have been financed either through the provision of capital by the owners or by the creation of external liabilities: Value of assets = Value of Liabilities Value of Owners capital. There are a number of things that we can see from looking at a balance sheet, for example: 1. The Net Assets of the business, i. e. the difference between the value of the assets and the value of the liabilities. A growth in net assets tends to indicate a growing business. 2. How solvent the business is. In other words, does it have enough assets that are short term, and hence easily converted into cash, to pay any pressing short-term liabilities. Case Example: A typical balance sheet will be set out in the following way (note that we use two columns. The first column is for minor calculations, the second column is for grand totals): Balance Sheet of Superior Traders, as at 31st December 2004 Fixed assets consist of those items that are kept within the business to create wealth over a period of time e. . machinery, equipment, vehicles, computers, etc. Current assets are used in the short period to generate income for a business. For example, in a manufacturing company like Kraft, stocks would represent products that have already been made and are waiting to be sold onto retailers. Typically stocks will be sold on credit for periods of one month, two months, or three months. Retailers buying s tocks on credit from Kraft would become Krafts debtors. At the end of the credit period they will pay up in the form of cash, enabling Kraft to buy more raw materials to create further stocks. Creditors due within one year are the sums that a business owes money to in the short period otherwise known as current liabilities. Net current assets is a measure of how solvent or liquid a business is. Many businesses need to have working capital. Working capital is calculated by subtracting current liabilities from current assets: Working capital = Current assets Current liabilities Note that the figure for net current assets appear almost in the centre of a balance sheet, and is a figure that many people will look at first to check on the solvency of a business. Total assets current liabilities is a sum that appears in the balance sheet simply doing what the title suggests. Creditors due after more than one year shows the longer term liabilities of the bsiness. Total net assets is calculated by taking away all the liabilities (both current and long term) from all of the assets (both current and long term). Shareholders funds shows the value of the shareholders capital in the business. It will always be the same value as the total net assets and it balances the account. Downloaded from The 100 Profit and loss accounts, balance sheets Profit and loss accounts, balance sheets Two of the most important financial statements for a business are the Profit and Loss Account, and the Balance Sheet. The Profit and Loss Account shows the profit or loss of a business over a given period of time e. g. 3 months, 1 year, etc. In contrast, the Balance Sheet is like a photograph taken at an instant in time giving a picture of what the business owns and what the business owes at that moment in time. As we shall see it will always balance because what the business owns is financed by what the business owes. The Profit and Loss (PL account) One of the most important objectives of a business is to make a profit. The PL account shows the extent to which it has been successful in achieving this objective. Companies are expected to keep their PL accounts in certain formats. Typically the PL account will show the revenues received by a business and the costs involved in generating that revenue. In simple terms: Revenues Costs = Profits. A typical PL account will look like the following: Case Study: PL Account for Superior Traders as at 31/12/2004 You can find out the gross profit of a business by deducting cost of sales from turnover: ? 100,000 ? 50,000 = ? 0,000 You can find out the operating profit by deducting the expenses from the gross profit: ? 50,000 ? 30,000 = ? 20,000 You may also come across the term net profit. Operating profit is earned from carrying out a businesses normal operations e. g. producing confectionery, or selling Christmas cards. Net profit takes account of other sources of income and expenditure that are not involved in normal operations e. g. interest paid on loans and interest received on having a positive balance in a bank account. Turnover is the value of sales made in a trading period. It is sometimes referred to as sale revenue and is calculated by the average price of items sold x the number sold. Cost of sales calculates the direct costs of manufacturing items, or buying in items to sell them on. Expenses are the overhead costs of running a business. These overheads cant be tied down to particular cost units. For example, it would be very difficult to calculate what fraction of the heating cost of a pen factory can be allocated to just one pen. The Balance Sheet is a statement showing the assets, liabilities and owners capital of a business at a particular Downloaded from The Times 100 Edition oment in time, for example the year end. The Balance Sheet balances because the assets that a business possesses at a specific time have been financed either through the provision of capital by the owners or by the creation of external liabilities: Value of assets = Value of Liabilities Value of Owners capital. There are a number of things that we can see from looking a t a balance sheet, for example: 1. The Net Assets of the business, i. e. the difference between the value of the assets and the value of the liabilities. A growth in net assets tends to indicate a growing business. Creditors due within one year are the sums that a business owes money to in the short period otherwise known as current liabilities. Net current assets is a measure of how solvent or liquid a business is. Many businesses need to have working capital. Working capital is calculated by subtracting current liabilities from current assets: Working capital = Current assets Current liabilities Note that the figure for net current assets appear almost in the centre of a balance sheet, and is a figure that many people will look at first to check on the solvency of a business. Total assets current liabilities is a sum that appears in the balance sheet simply doing what the title suggests. Creditors due after more than one year shows the longer term liabilities of the bsiness. Total net assets is calculated by taking away all the liabilities (both current and long term) from all of the assets (both current and long term). Shareholders funds shows the value of the shareholders capital in the business. It will always be the same value as the total net assets and it balances the account. Downloaded from The Times 100 Edition.

Emirates Airlines Pest Analysis Tourism Essay

Emirates Airlines Pest Analysis Tourism Essay In 1985 Emirates Airlines was established by Dubai Government with just two aircrafts. Today Emirates has 83 aircrafts files to 78 destinations in 55 countries worldwide. It has a large number of cabin crews from 95 nationalities. It recently made an aircraft orders worth more than $ 26 billion for 45 Airbus A380, which makes the company the worlds largest purchaser of Airbuss super-jumbo. (About Emirates) Emirates Airlines recently becomes one of the fastest growing airlines and the fifth-most-profitable airline in the world. It has been growing by more than 20% a year since the last 17 years making a profit of $637 million in 2004-05. (BBC News) Emirates Airlines is committed to achieve its mission, namely offering consistently high-quality value-for-money service and to be the best airline on all of its routes. Accordingly, it is known as an innovative and customer-oriented provider of advanced services, such as offering personal entertainment system in all classes, 18 TV channels, 22 audio channels and online booking service which enables customers to book, search for flights and choose seats. (About Emirates) Because of that excellence, it gained over 280 international awards, such as the prestigious CAPA airline of the year award 2005 by the Centre for Asia Pacific Aviation. The airline industry is affected by political situations, namely wars and terrorism. For instance, terrorists activities in different areas globally, namely USA (11th Sep), UK, Lebanon and Qatar made the regions unattractive for tourists and business travellers and reduce the passengers traffic. The political instability affected businesses between airlines in Middle East and the world by facing a difficulty to join any international alliances with any of the airlines leaders such as American Airlines. (Growth phenomena, Nora Byman) Economical factors One of the factors behind any success airlines is having modern airports supported with latest technology to meet customers requirements. UAE for example plans to invest in developing its main airports in Abu Dhabi and Dubai. The UAEs total investments on airport development over coming 20 years will exceed Dh 71 billion. The benefits of developing airports are: enhancing economy, reducing depends on oil revenues by moving into new sector (tourism), increasing tourists number and thereby driving profits to airline firms. Globally, alliance is considered as the main factor of many airlines companies success as it reduces the operation costs. Social factors Some of those factors are: increasing worlds population, tourists and number of educated people. For instance, the population is growing globally, in UAE the population in 2002 was 3,754,000 people and reached to 4,320,000 in 2004, this is because UAE is a multicultural country. As the number of expatriates is increasing, airlines firms profits will increase, because those expatriates need to travel to their homeland sometime. Additionally, many diseases influence the population in many courtiers, like Bird Flu, those killer diseases affect airline industry since they reduce populations level. (Economic Development) Technological factors The new technology affected airline industry negatively and positively. For example, the technology of teleconferencing reduced the need for face to face business meetings which affects on the number of business travellers and on the sales of business tickets. However, e-booking system makes the reservation easier and save many expenses such as reducing the printed tickets. (Current State) There is a growth in internet usage worldwide. In the UAE, internet accounts are likely to grow from 251,000 in 2001 to exceed 600,000 accounts by 2006. Thus, local airlines industry should provide online services to get competitive advantage ex. Emirates Airline. (UAE to remain on top in Arab Internet market) Internal Environment SWOT analysis Strengths Member of the Arab alliance, known as Arab Air Carriers Organization promoting cooperation, safety standards among Arab airlines (Arab Air). First airline in Arab World that offers online booking service. Offering long-haul flights, like from US to Dubai. Offering self check-in service for customers at Dubai airport (Emirates expands). At Dubai Air Show 2005, Emirates made an aircraft order of 45 Airbus by 2012 making it the worlds largest purchaser of Airbuss super-jumbo. Providing employees with training, rewards and performance programs, thus reducing labour costs and increasing employees loyalty (People). An official sponsor of 2006 Fifa World Cup, which will increase its brand awareness. It has its own Frequent Flyer Program known as Skywards Miles that shared with Sri Lankan Airways. It has recently chosen Dexterra Mobile Platform to enable front-office mobile solutions that will enhance customer service interaction (Unisys). It offers training service to other airlines in Middle East which increase its profit. Weaknesses High Operation costs due to huge investment on buying aircrafts and implementing new technologies. Known of its high prices of tickets comparing to other airlines. Not a member of any global alliances (UAE). It doesnt have a hub in Abu Dhabi airport (capital of the UAE). Young airline that was established in 1985 Opportunities The income per capita is growing in UAE. Lots of investments will be made by the government of UAE for developing main airports in Dubai and Abu Dhabi. There is an overall growth in the population of the world and in UAE. World Travel Tourism Council forecasts that there will be an annual growth in the number of UAE tourists. There is an expected growth in internet users worldwide and in UAE. Aviation events such as Dubai Air Show promotes for Middle East airlines among other participates worldwide airlines and show the growing of aviation industry in Middle East. Threats It is located in politically instable region and the terrorism activities have been increased in Middle East recently. Increase of aviation security costs and insurance which increase the operational costs of airlines. The increase of the fuel prices which raise the operational costs. The airline industry might face losses of around $ 3 billion if the oil prices did not reduce (IATA). New entrants and the raise of low cost airlines. The e-ticking system can be abuse by the hackers or it might be crashed by viruses, this will damage the company database and will cost a lot of money. Passengers can be a threat to the company, as they have a strong power in the airline industry. The natural crises such as the earthquake and hurricane. As mentioned by Al-Arabia channel, Dubai is threatened by an earthquake (2005). This will affect the tourism in this region, which will reflect in the Emirates airline. There is a possibility of rapid spread of new acute diseases such as SARS and Bird Flue that affect tourism and airlines. Strategic planning models There is no one perfect strategic planning model for each organization. Each organization ends up developing its own nature and model of strategic planning, often by selecting a model and modifying it as they go along in developing their own planning process. The following models provide a range of alternatives from which organizations might select an approach and begin to develop their own strategic planning process. An organization might choose to integrate the models, e.g., using a scenario model to creatively identify strategic issues and goals, and then an issues-based model to carefully strategize to address the issues and reach the goals. The following models include: basic strategic planning, issue-based (or goal-based), alignment, scenario, and organic planning. Model One Basic Strategic Planning This very basic process is typically followed by organizations that are extremely small, busy, and have not done much strategic planning before. The process might be implemented in year one of the nonprofits to get a sense of how planning is conducted, and then embellished in later years with more planning phases and activities to ensure well-rounded direction for the nonprofits. Planning is usually carried out by top-level management. The basic strategic planning process includes: Identify firms purpose (mission statement) Select the goals your organization must reach if it is to accomplish your mission Identify specific approaches or strategies that must be implemented to reach each goal Identify specific action plans to implement each strategy Monitor and update the plan Model Two Issue-Based (or Goal-Based) Planning Organizations that begin with the basic planning approach described above, often evolve to using this more comprehensive and more effective type of planning. Organizations that begin with the basic planning approach described above often evolve to using this more comprehensive and more effective type of planning. Summary of Issue-Based (or Goal-Based) Strategic Planning (Note that an organization may not do all of the following activities every year.) External/internal assessment to identify SWOT (Strengths and Weaknesses and Opportunities and Threats) Strategic analysis to identify and prioritize major issues/goals Design major strategies (or programs) to address issues/goals Design/update vision, mission and values(some organizations may do this first in planning) Establish action plans (objectives, resource needs, roles and responsibilities for implementation) Record issues, goals, strategies/programs, updated mission and vision, and action plans in a Strategic Plan document, and attach SWOT, etc. Develop the yearly Operating Plan document(from year one of the multi-year strategic plan) Develop and authorize Budget for year one(allocation of funds needed to fund year one) Conduct the organizations year-one operations Monitor/review/evaluate/update Strategic Plan document. Model Three Alignment Model The overall purpose of the model is to ensure strong alignment among the organizations mission and its resources to effectively operate the organization. This model is useful for organizations that need to fine-tune strategies or find out why they are not working. An organization might also choose this model if it is experiencing a large number of issues around internal efficiencies. Overall steps include: The planning group outlines the organizations mission, programs, resources, and needed support. Identify whats working well and what needs adjustment. Identify how these adjustments Model Four Scenario Planning This approach might be used in conjunction with other models to ensure planners truly undertake strategic thinking. The model may be useful, particularly in identifying strategic issues and goals. Select several external forces and imagine related changes which might influence the organization, e.g., change in regulations, demographic changes, etc. Scanning the newspaper for key headlines often suggests potential changes that might affect the organization. For each change in a force, discuss three different future organizational scenarios (including best case, worst case, and OK/reasonable case) which might arise with the organization as a result of each change. Reviewing the worst-case scenario often provokes strong motivation to change the organization. Suggest what the organization might do, or potential strategies, in each of the three scenarios to respond to each change. Planners soon detect common considerations or strategies that must be addressed to respond to possible external changes. Select the most likely external changes to effect the organization, e.g., over the next three to five years, and identify the most reasonable strategies the organization can undertake to respond to the change. Model Five Organic (or Self-Organizing) Planning Traditional strategic planning processes are sometimes considered mechanistic or linear, i.e., theyre rather general-to-specific or cause-and-effect in nature. For example, the processes often begin by conducting a broad assessment of the external and internal environments of the organization, conducting a strategic analysis (SWOT analysis), narrowing down to identifying and prioritizing issues, and then developing specific strategies to address the specific issues. Another view of planning is similar to the development of an organism, i.e., an organic, self-organizing process. Certain cultures, e.g., Native American Indians, might prefer unfolding and naturalistic organic planning processes more than the traditional mechanistic, linear processes. Self-organizing requires continual reference to common values, dialoguing around these values, and continued shared reflection around the systems current processes. General steps include: Clarify and articulate the organizations cultural values. Use dialogue and story-boarding techniques. Articulate the groups vision for the organization. Use dialogue and story-boarding techniques. On an ongoing basis, e.g., once every quarter, dialogue about what processes are needed to arrive at the vision and what the group is going to do now about those processes. Continually remind yourself and others that this type of naturalistic planning is never really over with, and that, rather, the group needs to learn to conduct its own values clarification, dialogue/reflection, and process updates. Be very, very patient. Focus on learning and less on method. Ask the group to reflect on how the organization will portray its strategic plans to stakeholders, etc., who often expect the mechanistic, linear plan formats. Managing risk Risk management is a process used to avoid, reduce or control risks. Some risks can be insured against, others cannot. Organisations deal with their insurable risks but can be applied to all risks. Ignoring the risks which apply to hospitality and tourism business activities or the events business have planned could impact on the following: the health and safety of employees, customers, volunteers and participants reputation, credibility and status public and customer confidence in the organisation financial position plant, equipment and the environment A systematic approach to managing risk is now regarded as good management Practice. Following is the best example from International Hilton Group (IHG). Process and framework IHG has an established risk management process and framework embedded in all regions. The long-term strategic goals are aligned with the IHG core purpose Great Hotels Guests Love and include these key elements: safety and security of guests, employees and other third parties brand strength supported by operational excellence in risk management at all hotels and corporate locations Maintenance and promotion of the reputation of the Company. Our approach has been to enable and support hotel owners, staff and corporate functions to manage risk effectively. This is accomplished by giving them a systematic approach and framework to follow and by providing them with tools to do the job. The Risk Management function aims to share specialist knowledge and capability globally. Safety and security in hotels A strategic framework for hotel safety and security has been designed for owned and managed hotels and is illustrated below showing the identified groups of risks and describing the management activities carried out to mitigate the risks. The red wheel illustrates the groups of risks which IHGs risk managers around the world work on with IHG general managers and their management teams in order to minimise the risks and keep the hotels safe. Over the years we have developed risk management strategies to assess and treat individual types of risk. This has involved developing policies, standards and guidelines, raising awareness levels, training staff on the controls and systems which have been developed for their use and reviewing and reporting upon progress and continued risks. These management activities are represented by the purple wheel.Hotel safety framework Security risks, particularly the threat of terrorism, have increased. In recent years, IHG has developed an increasingly sophisticated response that is intelligence-led and risk-based. The security risk environment is highly dynamic and needs to be managed both centrally and locally in hotels. In common with all risk strategies, there are three elements that must be developed and maintained: physical and technical systems, people capabilities and processes and procedures. Corporate risk management The management activities shown above are being adapted and applied to manage corporate risks. This initiative is led by the Executive Committee, facilitated by the Risk Management function and integrated with quarterly strategic reviews. IHGs Risk Management function has recently reviewed the way in which corporate risk and the major risks to IHG are managed and are seeking to develop a framework to improve risk management capability further, represented diagrammatically below:Corporate risk management Each year, risk identification workshops are run with the senior IHG management. The output is a Group Risk Register, divided into areas of accountability for each member of the Executive Committee. The Executive Committee uses the findings to identify the major areas of risk for IHG and to assign accountability for cross-functional leadership between them. The Executive Committee prioritises and co-ordinates efforts to optimise the management of major risks to IHG. Risk owners then identify existing controls as well as the ability, benefit and cost to improve them. This work is documented in Risk Action Plans that support the risks that are reported in the Group Risk Register. Executives review the risks at quarterly strategic reviews as part of their business review with the Chief Executive and strategy team. Global Risk Management also submits periodic incident reports and two major reports each year to the Executive Committee and the Board on hotel safety and security as well as a further report on the major risks to IHG. The Internal Audit function is separately responsible for providing assurance across the Group. They report their findings to the Audit Committee. This ensures separation of duties between the Risk Management and Internal Audit functions and hence supports good governance. The Board is ultimately responsible for the Groups system of internal control and risk management and for reviewing its effectiveness. In order to discharge that responsibility, in 2008 the Board considered the most recent Major Risk Review which involved extensive consultation throughout the business. Strategy and ethics The hospitality industry is made up of many companies who are run by business people. Business people who put short-term profits ahead of concern for the long-term health of the company or who make additional profits by failing to spend the money necessary to handle toxic waste or pollution resulting from the manufacturing process, are not professionals and harm the reputation of the industry as a profession . The scandalous behaviour of some business leaders in the past decade has damaged the reputation of business with the community. The former what is good for business is good for the country has been replaced with a virulent distrust of big business. Corporate social responsibility requires organizations to demonstrate responsible business conduct that does no harm in the marketplace, in the workplace, in the community they operate in, and to the natural environment. The actions of business impact the local, national, and global community, so businesses have a responsibility to ensure that the impact is positive. Corporate Social Responsibility also involves achieving commercial success in ways that honour ethical values and respect people, communities, and the natural environment. There is no universally accepted definition of CSR, but most of the definitions have to do with business having a positive impact on the community and meeting or exceeding public expectations of good corporate citizenship. Ethics in Tourism   Ethical principals apply to all individuals, communities and societies; they also apply to all the bodies in tourism in their respective specific roles. This entails both rights and responsibilities. Concrete and specific ethical standards for behaviour and practises in tourism must follow the broad principles as outlined here. Solidarity with those who are directly and strongly affected by tourism and who suffer from unjust structures connected with tourism, and solidarity with those who need material or political and philosophical support in defending their interests and rights which are threatened by tourism development or which are ignored in decision making processes; Justice in a world tourism order, an aim which intends to change all structures of injustice that exists in the fields of economics, politics, social and cultural life; Respect of diversity in the various areas of life societies, environment, cultures, religions and politics which calls for sensitivity to difference and the practice of tolerance. Authentic information for all people involved or interested in tourism. Such authentic information is a basic need for a just world tourism order. This places a particular responsibility on the media to be objective, fair and truthful when reporting on tourism. Professionals engaged in tourism education should also promote need for authentic research and information to develop sensitised and aware personnel in tourism. In order to improve the present situation in tourism and to minimize its negative impacts, firms must urge all (nation) those involved to contribute the best of their knowledge, abilities, and skills towards a tourism that is in line with these ethical principles. The tourists board must involve the governments, other public authorities, decision makers and professionals in the field of tourism, public and private associations and institutions whose activities are related to tourism, tourists and local communities to adopt the realistic principles and work towards the mutual objectives. Strategic VS operational conflicts Just like any other business, Tourism Business planning always have a strategic and an operational element to position the strategies. In order to make the intangible and highly sensitive industry firms must be able to balance the different roles and utilize strategic and operational plans. A Strategic Plan is an organizations summary of the development process and the presentation of core directions An Operational Plan is an annual work plan explaining how the goals of the strategic plan will be implemented and what budget and processes are required. Strategic planning helps the organisation to pull back the lens, get a big picture view and consider future scenarios. It gives you the best opportunity to maintain control, avoid serious pitfalls and capture opportunities. Thinking strategically about business involves creating a vision for where you want to be in 2, 5 or 10 years, Strategic planning is not just for big companies and has benefits no matter what the goals. The defined goals might include increasing the sales or market share. Goals may also include environmental and sustainability targets or to sell the business. Operational planning focuses tightly on the day to day operations with no more than a 12 month cycle. Depending on the farms activities, the manager might want to further break things down to daily, weekly, monthly or seasonal active. Operational planning focuses on adjusting and developing controls, increasing efficiencies and reducing time and investment. Conclusion and Recommendation The airline industry is a huge market as there are 900 airlines companies internationally with total of nearly 22,000 aircrafts, nevertheless it has a low growth rates as it is in its mature stage of life cycle. (The economic social benefits of air transport). For any new entry the airline industry is considered to be unattractive, because the demand is low, the competition is strong and the operation costs are increasing. However, for Emirates Airlines it is attractive as its strategy and market position creates a good defence against its competitor. For example, it created a strong brand name and customer loyalty in the market by implementing the latest technologies in its services to be positioned as a pioneer in the airline field. It also achieves high profits yearly as it focuses proficiently to enhance its market position by differentiating in its strategies that would be used to attract customers such as flyer frequent program. Also, it has many chances to overcome with all the obstacles that might occur and affect the airline industry such as political or economical problems, etc. as it is a member in Emirates Group which enables sharing resources and reducing the companys expenses, thus leading the company to protect its position in the market. Overall, Emirates has a great market position plus its a profitable airline which is measured as a competitive advantage, since it has the opportunity to compete and expand its business to gain higher profits. Emirates Airlines adopts differentiation generic strategy to gain a competitive advantage amongst its competitors by offering the highest quality services in order to be the best company in the market and differentiates from its competitors. For example, Emirates airlines was the first airline that offered TV screen for all aircrafts classes. Also it was the first company in the Middle East to serve the e-ticketing. In addition, it gained a competitive advantage by focusing in new segments in the market. For instance, it provides another airline companies such as Qatar Airways with training courses by using the most modern machines, called plane simulator to be the only company in the Middle East that offers such service. The aim of such changes is to be the leader in industry by increasing the brand name awareness regionally and internationally which will increase the demand and the profit as well. As the Airline industry is in the maturity stage, there is a strong competition between airline firms. Each firm should use offensive strategies besides doing analysis for internal and external factors that may affect its position. The research and analysis for Emirates airlines address following recommendations: The operational cost is increasing due to huge investments of Emirates on aircrafts and services and increase in fuel prices. Emirates should reduce the costs by making operational improvements, namely improving maintenance processes, maintaining high aircraft utilization and making effective flight scheduling. It could also be reduced by investing technology in distribution channels to reduce labour costs. In response to the threat of low cost airlines, Emirates shouldnt lower its fares after years of offering advanced services, instead it has to offer new low cost brand as a subsidiary of Emirates group serving economic travellers who are now customers of new low cost airlines, thus expanding the market share. Extending routes is recommended especially there is a growth in tourism UAE. There are main regions in the world that Emirates do not have routes in, namely Canada, It has to extend destinations worldwide (especially attractive areas). Joining a global alliance enables increasing its destinations, offering more fare options for customers helping to solve problems of new low cost airline. Investigating technology is recommended for improving customer service and Emirates has to sign contract with an e-business company that offers airlines technology solutions. Generally, Emirates should do analysis for internal and external factors and its competitors and develop new strategies to stay competitive in the maturity stage.

Lisa Fraziers The Pact :: Lisa Frazier The Pact

Lisa Frazier's The Pact My father's family lived in New Jersey when my dad and his three brothers were just blooming adolescents. Their parents were the product of the cocktail generation, and the Irish tendency towards alcoholism was augmented by that social niche. Despite the arguments and drinking, Mary and Jack wanted to make sure their children got the best possible education. The boys were sent to Catholic schools, and once they graduated were forcefully directed down a collegiate path. The brothers gave each other support throughout the years, but what they did with that support behind them was up to each individual. All four of the brothers went on to higher education, but their choices there and the lives they'd lead thereafter were all rather different. The doctors in the Pact, a book about close friends using a promise to unite the and motivate eachother to succeed, grew up where my father and his brothers did, but in a very different time. Much like my father's family, they were to face their own individual obstacles and make their way to higher education and their lives beyond. Both had parents with little money and received the best education that could be provided, and both would face elements in their lives that could change it. Before further comparison the lives of Tom, Bill, Pat, and Tim should be discussed. My father, Tom, was the eldest brother and was the first to attend college. He had been an alter boy in high school and a football player. When it came time for him to attend college he chose Millersville University . There he played football and was well known as a student who knew how to throw a party. Two years into his college career he decided to go into the navy. After serving his time there he went back to Millersville only to drop out near the beginning of his senior year because he found college to be â€Å"boring†. To my father there is nothing worse than being bored. His biggest accomplishment in college, as far as he saw it, was when trying to write an original poem in a certain style on one of his English finals, he wrote a limerick instead which went as follows:

Phaedrus Essay -- essays research papers

Purposely difficult and intentionally obsessive, Plato’s Phaedrus is an exceedingly difficult read that defies all conventional logic as a piece of discourse. The text is extremely subjective, open to interpretation and individual creativity as to what or whom the narrative is about. Written by Plato, a close disciple of Socrates, this text is set along the Illissus river where Phaedrus and Socrates meet for a day of speech, debate, rhetoric and okay†¦flirting. Phaedrus leads of the day and recites a speech by his close friend Lysias, who Phaedrus considers to be a top speechmaker. Socrates then, after chiding by Phaedrus unleashes two speeches of his own that overshadow and refute Lysias claim so boldly that Phaedrus is so taken by the power of Socrates, that Phaedrus I think misses the point of the entire speech. I think the main idea of the Phaedrus is that Plato’s purpose in writing the document, and using Phaedrus as an example of the reader of this dialogue, is to develop a mad passion to pursue wisdom because of the way Socrates hints, and later describes his definitions of madness, pursuit of wisdom, and critical thinking. For it were a simple fact that insanity is evil, the saying would be true; but in reality the greatest blessings come to us through madness, when it is sent as a gift of the gods (465). I think that one of the most powerful claims in the entire text is that of how madness is essential to pursue virtually everything, including Phaedrus’ beloved wisdom. In the quote Socrates is not suggesting or insinuating an aspect of his lesson; he is not merely attempting to get Phaedrus to think, as he so often does in this text, but right here in this quote Socrates declares his love for the ability to be mad. The ability to want something so bad, so vehemently, is what Socrates flat out told Phaedrus, is nothing short of god-like. Socrates said this after his first speech when I believe Phaedrus is just starting to â€Å"fall under the spell† that Socrates is attempting to blind him with. Speak without fear (465) Phaedrus says to Socrates just a moment before Socrates, I my opinion gives a little more information than he wants to, so early in the text. The quote on page 465 was also very strong because it was unexpected by I think both Socrates and Phaedrus. Socrates is very adamant about madness, and how it is necessary. Necessary for all aspe... ...rough proofs that I thought Socrates later detailed how to pursue wisdom, fueled by this mad passion that I feel Socrates felt had to illogical. I made the comparison of Bill Parish and Socrates because I felt that the same way the old, wise Socrates was teaching Phaedrus that it was the mad pursuit that makes life worth living; Bill Parish was doing the exact same thing to his daughter Susan. It was another movie though that drove me to the point of madness, even irrational thought; one that Plato wrote, Socrates directed, and Phaedrus acted in, that in the end proved my own main idea. ---- On a personal note, I would like to personally thank you for â€Å"turning me on† to classic Greek literature. Especially all the encouragement you have given me in making this paper my own, and becoming literally addicted, passionate even, about the Phaedrus. I get the feeling though, that I can read and re-read this for 10 years and still not fully â€Å"get† everything that I could or should. But I guess that is the purpose of a text of this magnitude. I really hope enjoyed reading my thoughts on this, because I can honestly say I have had a great time writing it.   Ã‚  Ã‚  Ã‚  Ã‚  

Abraham Lincoln and Calamity Jane :: essays research papers

In The Boys’ Life of Abraham Lincoln by Helen Nicolay and Life and Adventures of Calamity Jane, By Herself, tone is employed to more effectively display the purpose of the essays. In The Boys’ Life of Abraham Lincoln, Nicolay uses a tone that demonstrates triumph through tragedy, weaving specifics about Lincoln’s ancestors with the trials he faced. In Life and Adventures of Calamity Jane, By Herself, Mrs. Burk (Calamity Jane) uses a tone that is familiar to the world of documentaries, starting her story at her birth and ending with where she was when she wrote the autobiography. One must remember that The Boys’ Life of Abraham Lincoln is a biography, and Life and Adventures of Calamity Jane, By Herself is an autobiography. The contrasting of these two fine pieces of literature makes some specifics about tone and purpose stick out in one’s mind. The Boys’ Life of Abraham Lincoln uses a tone that is personal and endearing in order to inspire the reader to face circumstances in their life with the notion that a sunnier day will come only if they try their hardest to make the best of their current situation. Tone is also used to display Abraham Lincoln as a man who did just that to become â€Å"the greatest man of his time†. The biography begins nearly 175 years before Abraham Lincoln was born. It traces its way through the pioneering of his forefathers into the â€Å"west† by specifically pointing out hardships faced on the unfriendly trail. (They faced solitude, privation, and all the dangers and hardships that beset men who take up their homes where only beasts and wild men have had their homes before.) However, â€Å"they continued to press steadily forward† even though they lost most of what they had when they started their journey. The determined family continues on through the death of Abraham ’s grandfather, till Abraham is born â€Å"in deep poverty†. Throughout this initial background, it is hinted that Abraham will be â€Å"a wonderful man†, and it is noted how ironic it is that such a great man is to be born and raised in such a humble place. It is stated that of his early childhood â€Å"almost nothing is known†. The author still manages, however, to dig up an anecdote which portrays Abraham as a â€Å"generous child†. He was â€Å"large and strong for his age†, and when a â€Å"severe mysterious sickness† breaks out, Abraham pulls through, though many die around him.

Spiritual self-discipline Essay

Quest for moral values in the works of gurudev rabindranath tagore Professor B. K. Patel Head, Department of English M. G. Govt. Art and Science College, Kharsia, Chhattisgarh Abstract:- Gurudev Rabindranath Tagore was a noble thinker, amazing poet, dramatist, best teacher, keen essayist and unbelievable artist of great excellence. He clearly asserts ‘Let us reset our moral compass. ‘His views on the lifestyle depend on the values of commitment, patriotism and naturalism. In spite of his being a great thinker, he propagated the ideas of naturalism and pragmatism. The values that we generally find and enjoy in the literature and philosophies of Tagore are Idealism, Humanism, Naturalism, Patriotism, internationalism and so on. Tagore says that man should identify the â€Å"ultimate truth† which will free him from the life circle. Encounter according to him is the interview with oneself. He trusts that the planet is the mixture of both fact and impression. In Tagore’s point of view, man is formed with unlimited power, which is unwanted of his subst antial existence. This superfluity is the infinite potentiality of human nature and creativity. The unwanted potentiality of man translates itself in person’s spiritual religious and ethical activities. As an idealist, he was a keen promoter of facts, benefits and ideas. According to him, by using art man can experience the completeness of the high standards of life. The peculiar artistry was nothing but sincere and spiritual self-discipline. He said that trust on and worship of God could spiritualize people’ duties and works. As a Humanist, Gurudev Rabindrabath Tagore said the characteristics of man and man are created by superior power. There is a powerful bond between man and characteristics, so man should act naturally to feel the significance of superpower within him. Knowing of self is the key to recognize the Godhood in self. As a Naturalist, he remains an excellent teacher that is not problematic for man. Nature is kind, gentle and sympathetic like a mother. As a true Patriot, Rabindranath Tagore was an excellent poet, preacher, master and servant of the nation. His documents are filled with the loyal  dogmas and doctrines. He had sworn during the independence movement to make the nation free from international slavery. His dedication for the nationwide service, sincere feeling, and certainty was great. â€Å"Jana, Gana, Mana†¦ is the popular National Anthem which elicited a powerful a sense of unity and nationalism. As a proponent of Internationalism he was in favour of the one world. He says that unity among social, color and spiritual diversities is the need of the time. Sophisticated emotions are significant in his literary creations and works of arts. Finally, he was a follower and promoter of Vedanta. He had faith on the one Supreme Being that he has called as the holy Brahma. He finds unity in the diversities in the world and a spiritual oneness between man and man, man and characteristics. The relation between God and human must be like that of between love and joy. He witnesses God in all matters and soul. He believes that existence of Lord Brahma is there in all the living beings. Adequa te answers of all the queries occur when we understand the lifestyle of Brahma within him. RABINDRANATH TAGORE AND HUMAN VALUES Biswajit Baidya Asstt. Professor, Deptt. of Philosophy, Iswar Chandra Vidyasagar College, Belonia, South Tripura. Abstract- R.N. Tagore’s philosophical works are so vast that it is a herculean task to do proper justice to the world class philosopher. From R.N. Tagore’s books, we can easily surmise his own philosophical thoughts and ideas. Looking at the modern times, there is a widespread feeling of hatred, enmity and distrust among religions, caste and nations. There is a competition to use religion in the name of religionlessness. The source of such deplorable acts is not the aforesaid search for peaceful self-consciousness. It’s source is restless self-consciousness. R. N. Tagore’s view of humanism and philosophical thought never shows the unconscious principle of life and the feeling of division and conflicts as the ultimate goal of man. Tagore gives importance to ‘BhÄ gavatgÄ «tÄ Ã¢â‚¬â„¢ which teaches that one knows oneself without the division of intelligence. The Supreme spirit is everything, holds every things together. As a matter of fact, in this modern age of disdain, enmity, dismay, dishonesty, distrusted and suspicion among different religion castes and nations, R.N. Tagore’s Message and Occasional Speeches serve as a panacea for the ills of human beings. Key words: humanism, religion, values, human beings. â€Å"QUEST FOR HUMAN VALUES IN RABINDRANATH TAGORE’S GITANJALI† Dr. Baburam Swami Assistant Professor, Deptt. of English, Iswar Chandra Vidyasagar College, Belonia, South Tripura. ABSTRACT: Tagore’s love for humanity is omnipresent. He shows great concern for the strife, sorrows and sufferings of humanity. His poetry is full of lofty idealism and undaunted optimism. The common objects of nature and human life are glorified and coloured in the radiance of his romantic imagination endowed with boundless love for liberty, fraternity and equality. He is a singer of the smiles and tears of human life. Spiritual humanist finds out spiritual significance in the commonplace activities of life and god in humble cottages. He condemns castes and creeds, which divide humankind. All human beings are equal to the creator there is no untouchable in the great body of God. He occupies front position in the congregation of the prophets of Humanism for his songs. Tagore’s poetry Gitanjali reflects his desperate efforts to see the world to live in peace and harmony in reality. He strives hard to foster the values of humanity and bring happiness in the land by encouraging the individuals to love one another and lead a harmonious life full of contentment. Gitanjali means song offering which are of the finite to the infinite. It is the poetry of the highest order and brings strange consolation to the human heart. It is poetry in which men converse with eternity. This paper focuses on the human values in the Gitanjali. It depicts the chaos and incoherence, the confusion of sensations and emotions that constitute the human consciousness. It also  depicts multi-theme of human relationships. It is the study of motion and commotion for establishment of human values. It is an attempt to get a glimpse of Tagore’s philosophy of humanism. It also aims at studying Rabindranath Tagore’s Poetry Gitanjali that fosters almost all positive values not only in India but also abroad. THE HUMANISTIC APPROACH IN THE SCIENTIFIC CONSCIOUSNESS OF RABINDRANATH TAGORE Sohini Deb (Nandi) Research Scholar, Department of Sanskrit, Tripura University Abstract- The human values of the universal humanitarian considerations reached the level of high standard in the cultural activities and literary productions of Rabindranath Tagore, one of the greatest poet and men of wisdom. The extraordinary and the multifaceted talent of the poet embrace the diversity of valuable ideas of which science is a potential element. The flight of his imagination was not wild but sensible. It helped him to realise the truth comprehensively. It also transcended the limits of material forces and acquainted him to true nature of the infinite. His realisation and the study of scientific literature made him rich enough in the awareness that the application of science should be used exclusively for the utility of the mankind and especially to improve lots of the poor eradicating ignorance and superstitions. He studied books on science, went deep into the roots of the scientific principles and afterwards wrote books to make the ordinary people aware scientifica lly the surroundings of our society where we really live. He composed the books like ‘Visvaparichaya’ and ‘Taramandali abang Mahakasha’. He also inspired other scholars of science to write for awareness of scientific thought in the ordinary mass. He also wrote articles and took such measures for qualitative change in the technological know-how for agriculture. His experiment started in the Shriniketan and inspired his son Rathindranath for obtaining a degree in agricultural science. He was devoted to enrich the plant life too. He also took out most care in the human and social environment so as to make a man of the society physically and mentally healthy. From the height of cosmos down to the individual and material earth and the human societies with  peculiar characteristics in the particular surroundings, the poet Rabindranath try to catch the linking thread so as to have a clear conception to apply science for the good of mankind. It was inherent in the mind of the poet which has been revealed in his writings and activities that without invariable and concomitant association with the human value system, science is incapable of doing any good to mankind rather it acts like Frankenstein. RABINDRANATH TAGORE AND HIS UNIVERSAL HUMANISM Rajesh Bhattacharjee, Anup kumar Biswas M.A. in Bengali, Tripura University Abstract- Now a days the moral values from human nature is abolishing. If anybody should be mentioned as pure humanist in the India as well as in the world he is one and only Rabindranath Tagore .He earned a lot of experience in his whole life. He noticed the cruelty and destruction during the Second World War. He realized that the moral values are decreasing day by day.Then he determined to restore the human values and revive the moral ideas. In his essays like ‘kalantar’,’Yourope probasir patra’, ‘Batayaniker patra’, ‘Lokahita’, ‘purba o paschim’, ‘ Savyatar sankat’ he expressed his judgments’ about the humanism. Not only has this had his poems, proses, novels, and his short stories also born the significance of his humanist attitude. After travelling the whole world he felt that most of the people are losing their identity, depriving by the upper classes, exploiting by the rulers. He declared lou dly the winning song of humanity and restored our consciousness. So in today if we want to reconstruct our humanism we have to remember his message and preserve human values like love, faith, sincerity and devotion. We can celebrate his 150th birth anniversary and gave him proper honour through obeying his messages and his ideas.

Retreat Reflection

Last March 4-5, 2011, I had my retreat at the Capuchin Retreat Center at Lipa, Batangas. I treated it as a mini or short vacation from my busy and stressful everyday school life. Well, that was my initial take on my retreat day until I finally came to the realizations the recollection had offered me during my time there. It wasn’t just a vacation. It was a time for me to be able to take a break from my usual life and take a step back to take a look at where I am at the moment and where I want to be in the future. As I am about to finish my college degree with hopefully two terms left, I needed that time to know what God intends for me to do as I begin a new chapter in my life – professional/work life. The retreat was an eye-opener for me. I got to know myself better through the questions asked by the facilitator. Each of which had different intentions. An example would be the question â€Å"What is my passion?†. This made me think of what I would love to do or what I am interested in, disregarding the degree I am taking and what it is about. Honestly, I am not happy with where I am right now and knowing my passion could help me find another path that I could take because doing what I love to do could or might be the best thing. Another question asked was â€Å"What is my biggest or most important question in my life as of the moment?† My answer to it was â€Å"Why is there a need for suffering?† My reason for which was â€Å"I’m just curious to know why because why do we need to suffer if we can all just be happy instead†. I don’t know but my question sounds clichà ©. Maybe we are to suffer for us to remember that God is always there for us. We can always find refuge, security and rest in Him. The retreat also reminded me that in everything that I do, do it for the greater glory of the Lord. There are times when it is hard for me to be productive with God in my mind cause I get caught up with mundane things. The solution I was presented during the two days that I’ve spent in Batangas was to be in love with Christ. If I put God in the center of my life then the things that I’d do would come natural. It’s not forced. I do not need to over analyze the situations I am in because I will have direction. I believe that our paths are shown to us and He unfolds His plans to us when we decide to spend some time with Him.