...the movement caused the birth of mass tourism. Overtime the impacts of mass tourism, both positive and negative, to the destination start to surface; sustainable tourism is introduced to manage the impacts of mass tourism. Development of Mass Tourism Mass tourism is said to consist of various elements but the principle lies with the participation of large numbers of people (Fink, 1970). It is a distinct form of tourism that can be separated from the others base on it linkage to mass production, mass consumption and mass tourist destination (Vainikka, 2013) and these mass consumption took place with the lack of consideration by the tourist towards the locals, their norms, culture and the environment of the destination (Poon, 1993) With the increase affluent and technology after the Second World War, people’s attitude towards travelling have changed and the demand for travelling trigger the development of mass tourism, adding on, the leisure needs of working classes also facilitated the development of mass...
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...Pizza Hut Case Analysis For years now Pizza Hut, Inc. has been the leader of the pizza industry. We have been privileged to have had the opportunity to perform research on advancements we can make to maintain this reputation. Based upon our Economic Analysis we have decided to not launch the BIGFOOT pizza. The following gives a detailed analysis, offers alternatives to improving the Pizza Hut experience, and gives reasons why we came to this conclusion. Economic Analysis: First off, we appreciate the opportunity to have had an important role in Pizza Hut's latest product development, BIGFOOT. As you know, over the past five years market shares for the industry have changed much more drastically than in recent years. Our market share has been stagnant, and sales are down 10% this year in relation to last year's numbers. During the same period, Little Caesars made a strong push and they have continued to grow. Little Caesars' "two for one" marketing approach was effective in infiltrating the "mom's night off" segment, and is seen by customers as a great value. This is adding direct competition into our niche market share. Little Caesars is surely not making headway with the pizza connoisseurs, but it has effectively targeted a market in which Pizza Hut does not currently have a strong presence. 50% to55% of this market is made up of family dining situations. Our marketing team has conducted multiple data analyses on ways in which we can gain market share from Little...
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...security, the worst economic crisis since the Great Depression, and potentially catastrophic climate change we will lose our positions as a world power. One of the main power underlies all of the United States’ challenges would be dependence on foreign oil. If the United States can dramatically reduce its oils dependence, the direct effect would be less exposure to the Middle Eastern turmoil, dampened competitive pressures in Asia and significantly reduce funds flowing to terrorist activities. The only solution to our current economic crisis is a radical shift to alternative-energy development. Investment in the alternative-energy industry would immediately create domestic jobs in the United States’ hardest hit industries, such as construction and manufacturing, green investments can create up to four times as many domestic jobs per dollar invested those traditional fossil-fuel investments. In addition to creating jobs, alternative-energy development will reduce utility bills in American households, freeing up income for consumer spending. Further, if the United States eliminates its foreign oil consumption, oil import money will stay in the United States and provide a huge economic stimulus –easily over $100 billion annually. Over the past two years, the money the United States spent to import oil could have generated $7 trillion in economic activity if it were spent domestically. The United States needs to shift oil import spending to alternative energy investing that...
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...Alternatives to Incarceration Nicole Kimble Professor White CRJ 180 December 4, 2015 In examining the underlying historical and economic reasons behind the quest for alternatives to incarcerating offenders in jails and prisons, “between 1972 and 2010, the United States prison population increased exponentially from fewer than 200,000 prisoners to more than 1.6 million. Including, jails, the United States now incarcerates approximately 2.3 million people on any given day. By 2012, one in 108 American adults had been incarcerated. During these decades, the contours of American exceptionalism expanded as the United States acquired the distinction of leading incarcerator of the world.” (Eaglin, J pp.1845) I would also like to add that the “Model Penal Code takes an important stride toward fundamental thinking as it refocuses economic sanctions around the goal of successful reintegration into society. There is reason to believe that the broader public and political has not similarly reoriented itself around this framework, despite the apparent shift towards rehabilitative reforms. Neorehabilitaive reforms maintain the dame framework of exclusion that created policies that increased prison populations even though the rhetoric of reform has changed. So to speak, “unless and until the public politicians develop the will to fund a reintegrative system, economic sanctions may be another alternative to incarceration implemented in the wrong way despite the ally’s efforts to the...
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...BASIC ECONOMIC CONCEPTS LESSON 1: BASIC ECONOMIC CONCEPTS By the end of this lesson, you should be able to • • • • • give an overview of Economics deal with the Economic Problem discuss the Methodology in Economics differentiate between Microeconomic Issues and Macroeconomic Issues 1.1 WHAT IS ECONOMICS? Some opinions: “Supply and Demand - that’s all there is to economics. The rest is nonsense.” “Economics is about what everyone knows in a language that nobody understands.” “Economics explains the price of everything and the value of nothing.” “Economists are quite unique in their failure to solve a single one of the problems of their profession.” John Papworth Economist– the one profession where you can gain great eminence without ever being right.” George Meany While these views / opinions of economics / economists contain some element of truth, they hardly give a meaningful insight into the nature of the subject and the work of economists. What is Economics? Many definitions have been offered for Economics. Mostly, they focus on two inter-related approaches to the above question: 1. 2 the problems that Economics deals with; and the methods that economists use in dealing with these problems. An example of the ‘problem’ type of definition is given below: “Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.” Lord Robbins 1929 Simply put, Economics can be defined as the social science which studies...
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...“New trends of Middle East Economy” Middle East Economy Background Main economic sectors & main actors Current trends with alternative investment apart from oil industry” by Panakant Raschasri 5303640691 Middle East Economy Background The economic structure of Middle Eastern nations are different in the sense that while some nations are heavily dependent on export of only oil and oil-related products (such as Saudi Arabia, the UAE and Kuwait), others have a highly diverse economic base (such as Cyprus, Israel, Turkey and Egypt). Industries of the Middle Eastern region include oil and oil-related products, agriculture, cotton, cattle, dairy, textiles, leather products, surgical instruments, defense equipment (guns, ammunition, tanks, submarines, fighter jets, UAVs, and missiles). Banking is also an important sector of the economies, especially in the case of UAE and Bahrain. Main economic sectors & main actors Middle Eastern Oil-Exporting Countries The oil exporters comprise 12 countries: the six countries of the Gulf Cooperation Council (GCC—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates) and Algeria, Iran, Iraq, Libya, Sudan, and Yemen. Together, they account for 65 percent of global oil reserves and 45 percent of natural gas reserves. The countries are mainly exporters of oil, gas, and refined products, with oil and gas contributing about 50 percent to GDP and80 percent to revenue. They are diverse and differ substantially in terms of per...
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...fundamental for the smooth functioning of capital markets. In the global arena, the need for comparable standards of financial reporting has become paramount because of the dramatic growth in the number, reach, and size of multinational corporations, foreign direct investments, cross-border purchases and sales of securities, as well as the number of foreign securities listings on the stock exchanges. However, because of the social, economic, legal, and cultural differences among countries, the accounting standards and practices in different countries vary widely. The credibility of financial reports becomes questionable if similar transactions are accounted for differently in different countries. To improve the comparability of financial statements, harmonization of accounting standards is advocated. Harmonization strives to increase comparability between accounting principles by setting limits on the alternatives allowed for similar transactions. Harmonization differs from standardization in that the latter allows no room for alternatives even in cases where economic realities differ. The international accounting standards resulting from harmonization efforts create important benefits. Investors and analysts benefit from enhanced comparability of financial statements. Multinational corporations benefit from not having to prepare different reports for different countries in which they operate. Stock exchanges benefit from the growth in the listings and volume of securities transactions...
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...Term Paper On Alternative Economic Policies for India based on analysis of the Alternative Budget INTRODUCTION Attempt has been made not to draw a detailed picture of an alternate budget but to understand the macro outline of the budget based on alternative policies. With rising debt and interest burden there was a need for a change in fiscal policy change In the Indian economy. This paper shows the possibility of an alternative change to the IMF dictated budget adopted at that time. A comparison has been made between four scenarios. Scenario I has been drawn up to show the 1994-95 budget if the country would have been persisted with the observed trends of 80s. Scenario II are the projected estimates for 1994-95 if IMF dictated policies are followed. It is not the budget that Finance minister may present. In scenario IV, alternative budget proposal has been detailed out with a real fiscal correction. It has been assumed that the policies are in place for five years. The scenario III is the first year of transition. Changes in taxation both direct and indirect have been done to raise revenue. Expenditures for various sectors have been estimated and the overall impact on the economy has been explained. A comparison between the revised estimates of 1993-94 and alternative budget 1994-95 (Scenario IV) has been done. Finally, the critique has been given with the responses to the critique by Arun Kumar. THEORETICAL BACKGROUND Financing of economic development through taxation-...
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...visible advances in rural communities in Nigeria for achieving meaningful economic goals, the effective policy of energy usage as a vessel for the acquisition and utilization of required technologies to develop and recover the present depreciating national economy associated with poor food production must be focussed strategically. The socio-economic growth of any developing nation is generally a function of the level of maintenance of her energy demand supply balance and sustainable food production. Nigeria may attain the potential status of an industrialised nation by the year 2010 if all available manpower and other natural resources are well utilized before then to effectively harness her potentials of cheaper alternative energy technologies for long term economic and rural developmental goals. This paper presents the nation’s requirement of a well- articulated energy policy and urgent implementation strategies emphasizing on appropriate energy conservation concepts to promote optimal utilization of existing energy resources in her rural areas. It is therefore suggested that the development of available alternative energy resources be encouraged for integrated rural growth, sufficient food production and small scale industrialization thereby alleviating poverty in the rural communities of the country. Introduction Any government policy is purposed mainly towards the socio-economic development of the people. To this end, the objective of a national energy...
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...What is a better Monetary System: Bargaining or Money? So far, every monetary system ever implemented has been problematic. For instance, money, in its various forms, has been liable to manipulation. Metal money made from precious metals may be degraded by the issuer or filed, shaved, or chipped by individuals. Paper currency makes it more difficult for individuals to alter money but is more easily manipulated by the issuer, whether central authorities of individual banks. Bargaining and money are the two principal systems that markets utilize in buying or selling of both services and goods. Notwithstanding its weaknesses, money remains a better monetary system compared to bargaining. The imposition of limiting monetary policy in a disjointed wage bargaining context where workers have considerable bargaining rights can have perverse effects. Notwithstanding the tendency of liberal economists to point labor-market rigidities arising from government regulation and active trade unions as the source of unemployment, evidence exist that the nature of macroeconomic policy can also play a role. Macroeconomic policies are essential, especially in ensuring that wage-bargaining systems are able to deliver wage moderation that is favorable to low unemployment levels (OECD, 2011, p. 328). Centralized bargaining systems only work best under an accommodating monetary policy while bargaining systems organized at the industry level works efficiently under a non-accommodating policy. Therefore...
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...What is Economics? From my research, the definition of Economics is varied between economists. According to Adam Smith who wrote the book in 1776 entitled Wealth of Nations, Economics is a science of wealth. Another early definition is by Alfred Marshall’s in his book, the Principles of Economics. He defined economics as the study of mankind in the ordinary business of life; it examines the part of individual and social action which most closely connected with the attainment and with the use of the material requisites of well-being. But most contemporary definitions of economics involve the notions of choice and scarcity. This is how I have found Lionel Charles Robbins (22 Nov 1898 – 15 May 1984), a British economist and Head of Economics Department at the London School of Economics. His book, “Nature and Significance of Economic Science” (1932), he defined, ‘Economics is the science that studies human behaviour as a relationship between ends and scarce means which have alternative uses. According to his definition, Economics focused its attention on a particular aspect of human behaviour, that is, behaviour associated with the utilization of scarce resources to achieve unlimited ends (wants). Scarcity limits us both as individuals and as a society. There are 3 main aspects in his definition, which are: 1. ‘Ends’ 2. ‘Means’ 3. ends and scarce resource provides the foundation of economics 4. ‘Scarce means have alternative uses’ 1. ‘Ends’ are the wants. Humans wants...
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...ANALYSIS OF GLOBALIZATION TRENDS AND ITS IMPACT ON THE REFLEXIVE SOCIETY AND ON THE DEVELOPMENT OF RETAIL INDUSTRY Michael Adiwijaya Lecturer Staff, Petra Christian University Surabaya S. Pantja Djati Lecturer Staff, Petra Christian University Surabaya ABSTRACT Globalization is continuing process which could not be avoided by every nation in this world where the globalization trends contribute big impact toward society life and toward the development of retail industry. The impact of globalization toward society can be seen on the changing in several aspects such as economic, politic and legal, social and culture, and technology as well. Meanwhile the globalization impact toward the development of retail industry can be seen on online retailing activities and on the internalization process of retail operation. Key word: Globalization Trends, Impact of Globalization, Society Changing, Development of Retail Industry. 1.1 Backgrounds Backgrounds for this analysis are separated into two main parts; they are globalization trends and the typology of reflexive society . 1 1.2 Globalization Trends Globalization or the global exchange of goods and ideas between human populations is a process that has been existed for 2.5 million years, but that has been intensified during the last 500 years, mainly under the influence of the Western European expansions. (Schulp,2006). Every nation in all around the world experiences the process of globalization...
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...Human-beings have unlimited wants and are living in a world of finite resources. In economics this concept is referred to as scarcity. In an effort to balance those wants and the amount of resources available at each point of time, we chose to regroup ourselves in societies and take advantage of our individual abilities to produce and to work together. Throughout human history, a lot of systems were invented to help us manage what mother nature provided to us. When it comes to create such systems, important questions need to be answered: what to produce? How much should we produce? And who is making those decisions. Capitalism is the economic system agreed upon in the United States of America. In the recent discussions of the efficacity of...
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... Asymmetries and Behaviour: Hugo Chavèz………………………………………………… 7. Conclusion……………………………………………………………………………………… 8. Bibliography……………………………………………………………………………………………… Introduction 1. Definition ALBA defines itself as "the Latin American option that fights for the autodetermination and sovereignty of people of its regions", especially, against of what they define "all the imperialistic politics of United States of America". (Alianza Bolivariana para nuestros pueblos de America, 2004) In other words, it is an integration platform that focuses on solidarity, complementarity, justice and cooperation between countries of Latin America that want to achieve together the level of "integral development through its own alternative way, in the middle of the increasing formation of regional predominant blocks in the world". (ALBA, 2010). This aim was initially reached thanks to the efforts of two countries, Venezuela and Cuba, that in December 2004 joined to put into real words their intentions to create a southern cooperative alliance. That alliance should mainly oppose to the politics of the Free Trade Area of Americas, imposed ten years before by U.S....
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...management system as part of the corporate culture, in order to prevent another lawsuit and recover from the current economic downturn? Facts & Considerations: • R&R Ownership Culture The Ownership Culture is the core culture and success of R&R to its famed customer service where the employees especially the sales person are given accountability to its customers. • The Sales per Hour (SPH) Program The SPH is the main driving force of the Ownership Culture where incentive programs are part of its reward system. Alternative Courses of Actions: Alternative 1: Status Quo or Continue with the Current HRM Process Watkins will continue with its current process, culture and performance management system. Pros: R&R will maintain its harmonious operations and will recover once the recession is over. Cons: The current system may once again produce lawsuits towards the company Elicited behavior might impact the company negatively amongst its employees Alternative 2: Improve the SPH program as per state laws Watkins will improve the current SPH program as per minimum requirement of the state law. Pros: Watkins will prevent future lawsuits related to the SPH program The overall behavior will shift to a healthy competition rather than “sharking” Cons: The company will still be affected by the current economic downturn and loose more profit. Alternative 3: Change the current performance management system Watkins will change the SPH and create a new performance...
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