Game and Basketball Essay Example for Free

Game and Basketball Essay Have you ever wondered what basketball is like? Basketball can vary from being very intense and physical, while other time it is very easy. Basketball is a very exhausting sport. You can feel your muscles being pulled in every direction. You feel like you cant move when the season first starts. During a gamer you can hear the crowd cheering you on. You can smell the popcorn all around the gym as people eat it. You can feel the sweat pouring down your face as you run up and down the court. Your feet start to ache as you run. When you hear the buzzer at the end of the game, you look up to see how many points are on the board. Many players struggle to get the ball during a jump ball. When players are hit hard during a game, the referee will call a fould. Basketball gives people this unknown amount of energy during a game. When your in the stands during a game you can feel the excitement coming from all of the fans. Basketball can be played inside or outside. You can find most teens around here playing it almost all of the time. If you want to be good at the sport you need to have a passion for learning it. Basketball is an excellent way to get in shape or to stay in shape. Basketball will always be a sport to play no matter what season it is. If you look in a gym at a school you should find a court and hoops. Basketball is a way to keep you out of trouble. When you sweat, it runs down your face into your eyes and makes them burn like crazy. Basketball could be a wonderful sport for everyone to play, but many will not play the sport. Basketball is played worldwide. It is played in almost every country. Basketball will be around for many centuries to come. Almost everyone enjoys the sport, whether they are playing or watching. Basketball has been passed down to different generations through out the years. It has had the rules of it changed many times. Basketball is even an excellent way to make memories with your friends. Basketball will be passed on until the end of time, well at least it might be.

Lactose Intolerance: Causes, Types and Management

Lactose Intolerance: Causes, Types and Management Western scientists established by the 1940s that milk was good for you. As a glass of cows milk was set for everyone at the table doctors were receiving discouraging reports that some of the patients were not able to digest the milk. (Dunn, R. 2011) Lactose is a sugar found in milk and milk products. Lactose intolerance (LI) is the inability or inadequate ability to digest lactose. (Kennedy, K., 2010) Cells of the inner lumen of the small intestines, enterocytes, are covered with a membrane that has a brush border made up of microvilli. The microvilli produce lactase, the enzyme that splits and hydrolyze dietary lactose into glucose and galactose for transport across the cell membrane. Lactase is produced in the upper, most shallow section of the villi, which is easy to damage by secondary insult. Lactase breaks down lactose into two simpler forms of sugar called glucose and galactose, which are then absorbed into the bloodstream. (Thorn, A., 2010). If the lactase enzymes are lacking, unabsorbed sugars osmotically attract fluid into the bowel lumen. The amount of fluid influx into the bowel is about triple the normal amount, based on the osmolality of sugar alone. In addition, the unabsorbed lactose entering the colon is fermented by bacteria, producing gas and resulting in the cleavage of lactose into monosaccharides. Monosaccharides cannot be absorbed by the colonic mucosa; as a result, osmotic pressure increases, and fluid levels rise in the bowel. (Thorn, A., 2010). The result of the rising fluid levels would be in about 30 minutes to 2 hours you might experience flatulence, stomach cramps, nausea, bloating of the abdomen, and/or diarrhea. Symptoms may vary from person to person, and people can tolerate differing amounts of foods containing lactose. That is mainly why LI is a very misunderstood condition as there are no really positive criteria for diagnosis. (American Psychological Assoc. Lactose intolerance., 2005). 30 million US adults may be affected by lactose intolerance to some degree by age 20, older patients are predominantly susceptible. It is estimated that about 70% of the world population is affected by LIwith excessive variation among ethnicities and races. Some degree of LI is reported in up to 80% of African-Americans and Latinos, and almost 100% of Native Americans and Asian Americans. LI is least common in people of northern European descent (and is unlikely to develop before adulthood). Most mammalian babies, counting human infants, produce enough lactase to digest milk, including breast milk. This ability continues until the child is weaned. In humans, lactase activity descents at age 2 to 3 years and may cease completely by age 5 to 10. Worldwide, most humans lose 90% to 95% of birth lactase levels by early childhood, with a continuing decline during the course of a lifetime. This may help explain why many elderly people are affected by LI. (Thorn, A., 2010) Two of the main types of lactose malabsoption are primary and secondary. Primary lactase deficiency is the most common form. It is the normal, ongoing reduction in lactase enzyme that an ageing individual experiences, and the rate of decline is genetically determined. (Thorn, A. 2010). Researchers have identified a possible genetic link to primary lactase deficiency. Some people inherit a gene from their parents that makes it likely they will develop primary lactase deficiency. This discovery may be useful in developing future genetic tests to identify people at risk for lactose intolerance. (Matus, J., 2003). Secondary lactose malabsorption is normally temporary and occurs following a weakening of the mucous membrane of the small intestine (American Psychological Assoc. Lactose intolerance. 2005). The weakening can be caused by severe diarrhea, infection (eg, rotavirus), chemotherapy, or acute gastroenteritis. In these situations, lactase is the first enzyme to be harmfully affected and the last to return as the insult resolves. Secondary hypolactasia is transient and reversible. (Thorn, A., 2010). It can last from approximately one week to four weeks after recovery from a severe bout of gastrointestinal infection. (American Psychological Assoc. Lactose intolerance., 2005). Young babies (infants) and children suffering from such an infection or from malnutrition are particularly vulnerable to this secondary deficiency of lactose enzyme. Other causes could be coeliac disease, by an allergy to cows milk, by certain drugs (such as antibiotics) and by gastrointestinal surgery. (Matus, J., 2003). Infants born prematurely are more likely to have lactase deficiency because an infants lactase levels do not increase until the third trimester of pregnancy. (Matus, J. 2003, December). 50% of children will outgrow an allergy to milk protein by one year of age, 75% by two years and 90% by three years. Less than 1% of children suffer from a lifelong milk allergy. (Kennedy, K., 2010) LI is not considered life threatening, but its symptoms can severely affect a persons quality of life and productivity. In addition to ethnicity and age, the type and amount of lactose ingested and the amount that the patient is unable to digest all affect the severity of LI symptoms. (From the pharmacy, 2008) Not all people with lactase deficiency have digestive symptoms, but those who do may have LI. Most people with LI can tolerate some amount of lactose in their diet. LI can be difficult to diagnose by symptoms alone; physicians may need to run tests for proper diagnosis. There are two tests that doctors will usually use to measure the digestion of lactose. One is the Hydrogen Breath Test where the person drinks a lactose-loaded beverage and then the breath is examined at regular interludes to measure the amount of hydrogen. Undigested lactose produces high levels of hydrogen, normally; very little hydrogen is detectable in the breath. The second is a Stool Acidity Test. The stool acidity test is used for infants and young children to measure the amount of acid in the stool. Undigested lactose creates lactic acid and other fatty acids that can be discovered in a stool sample. Glucose may also be present in the stool as a result of undigested lactose. (NIH, 2009) Lactose is also used in some prescription medicines, including birth control pills, and over-the-counter medicines like products to treat stomach acid and gas. Usually only the people with severe LI will have symptoms caused by these medications. (From the pharmacy, 2008). People who suffer from LI should be concerned with getting enough calcium and vitamin D in their diet. Calcium is needed for strong bones, to prevent osteoporosis. There are many alternative foods and lactose free milk products available today to get the proper nutrients and calcium the body needs. Because lactose intolerance is unusual in infants and children younger than 2, a health professional should take special care in determining the cause of a childs digestive symptoms. (NIH Publication, 2009) Although the bodys ability to produce lactase cannot be changed, the symptoms of lactose intolerance can be managed with dietary changes. Slowly introducing small amounts of milk or milk products may help some people adapt to them with fewer symptoms. Most of the time people find they can tolerate milk or milk products better by taking them with meals. (Thorn, A. 2010) Israeli researchers did a study of 66 LI people and discovered that they got less than the 700 mg of calcium a day. That is almost half the recommended 1000 to 1200 mg for healthy bone building. When scans were done they were also found to have thinning bones and to be at risk for osteoporosis and fractures.(NIH, 2009) People, who even after switching their diet, are still having symptoms can take over-the-counter lactase enzyme drops or tablets. Taking a few drops of the liquid enzyme may make the milk products more tolerable to consume for people with LI. (From the pharmacy, 2008)

Managerial accounting techniques to help them thrive

Managerial accounting techniques to help them thrive Globally Hotels operators and managers are relying on managerial accounting techniques to help them thrive in the highly competitive and economy recession. The critical aspect of focusing on increasing revenue, minimise cost, align incentive to performance, maximise profits level without decline in the quality of services rendered by Hoteliers are becoming evolving issues in the hospitality industry. The essence of this project is uncover how management accounting is use to provide specialised internal information to the Managers in Lagos Airport Hotel, Lagos Nigeria that are responsible for directing and controlling operations within the hotels. The types of information provided by management accounting information systems and how it help the management in their strategic planning (Short or Long term), measurement performance, attained the organisational strategic objectives of increasing the owners wealth. SECTION 1- DESCRIPTION OF COMPANY: LAGOS AIRPORTS HOTELS LIMITED Lagos Airport Hotel Limited, is a subsidiary of Odua Investment Company,The hotel began operation in 1942 under the ownership and management of Joseph Harold, a Brition . The hotel name was then Grand Hotel which was later changed Ikeja Arms was incorporated in 1961, having started business as an owner managed hotel with 5 rooms in 1942 under the name Grand Hotel, Lagos.with 5 rooms. It was renamed Ikeja Arms Inn in 1956 acqiured in 1959 by the Government of Western region of Nigeria comprises of Oyo, Ogun, Ondo, Osun and Ekiti States in 1959 and incorporated as Lagos Airport Hotel in 1961. As at today the hotels had grown from 5 rooms in 1942 to 277 rooms consist of of , presidential suites , Monarchical Suite, Executive Suites, Presidential Suites, Executive/Business Suites, Standard/Executive Double, six conference halls well-secured car parks, two international Restaurants four Bars and an Olympic-sized Swimming Pool. The hotel under the leadership of Alhaji   Adebayo Jimoh , has over five hundred highly professional staff with additional two subsidiaries hotels namely Lafia Hotel and Premier Hotel Ibadan. The hotel strategic vision is to be the preferred choice for customers in the Nigerias hospitality industry. and mission statement is to passionately deliver efficient and catering services at competitive and affordable prices. In Peat survey 2009 the Airport is rated among the best top hotels in Nigeria and among the first leading hospitality companies in Lagos State. is rated among the best top 20 hotels in Nigeria. SECTION 2 COST BEHAVIOUR ANALYSIS HOTEL BUSINESS OPERATION AND COST BEHAVIOUR ANALYSIS HOTEL ACCOUNTING STRUCTURE AND LAGOS AIRPORT HOTEL EXPERIENCE The hotel business operation globally is characterised with a number of different cyclical sales revenue cycles which includes daily operating cycle, weekly , seasional cycle and general business cycle(Reccession). The Lagos airport hotels is not expempted from the above cyclical business patterned. Significantly, these various cyclical operation in hotel create a unique difficulties in forecasting revenue and cost. Secondly , hospitality operation are People oriented and people- driven, it is more difficult to effectively automate and control cost than it is on other non hospitality business sector 2.1 COST BEHAVIOUR AND ANALYSIS Lagos Airport Hotel operations tend to be highly departimised with separate operating division/unit that provide accommodation/lodging, Restaurants Bar services, Conference Banquest, Etc . Consequently the hotel accounting systems are designed to allow an independent evaluation of each operating department or division. To this end, cost directly traceable to a department are identified as direct cost, typically major direct cost in hotels includes cost of sales(foods drinks), salary wages, operating supplies e.g Soap, Toilet tissue paper etc . After direct costs are determined they are deducted from revenue to isolate contributory income which represent the depts or division contribution to support undistributed general overheads. As in their practice indirect cost are not easily traceable to a department and referred to as undistributed costs One of the arguments in favour of allocating indirect expenses to department is that aithough department managers are not responsible for controlling those costs, they should be aware of what portion of them is related to their department since this could have an impact on departmental decision making such as establishing room rates, foods and other service selling prices at a level that covers all costs not just direct cost. When this type of Full -cost accounting is implemented in a responsibility accounting system , it allows a manager to know the total minimum revenue that must be generated to cover all costs even though the control of some of those costs is not their responsility. Nevertheless there are mistake as regard the direct costs, controllable costs, indirect costs and non controllable cost. The assertion that say direct costs are generally more easily controlled than indirect costs but (Salome 2009) argued that in the long run all costs are controllable by someone at sometimes 2.2 RELEVANT NON RELEVANT COST CONCEPT AND APPLICATION IN HOTEL The theory of relevant and non relevant cost is widely used in hospitality cost management( ) the application is use for variety of decision making. A relevant cost is one that affect decision and such a cost must be in the future and different between alternatives. For example The Lagos airport is considering to introduce online booking with ATM Payment portal, the relevant cost would be the cost of web solution, ATM Machine, the cost of training employees on the new solutions and any change in maintenance and material supply costs on the new solution/machine. As long as no change is necessary in the number of staff required, the hotel labor cost would not be relevant cost and it would make no difference to the decision On cost behaviour Most hotels have a high proportion of fixed cost which are not expected to change in the short run of an operating period og a year or less and will not vary with increases or decrease in sales revenue, examples are management salaries, insurance or committed cost of an advertising campaign ,So this type of costs are not relevant for decision making Variable cost on the hand change in direct proportion to a change in sales revenue for example the more foods and drink sold, the more cost of sales incurred The usefulness of relevant cost , non relevant cost, fixed , variable, sunk cost etc in hotel business help the managers in making the following types of decision Allocation of indirect costs to revenue unit/dept Which types of equipment should they buy Whether to sell below total cost? Whether hotel should be close during off season? As the cost of low -activity characterises hotel sectors Which investment/business should they buy Make or buy decision making Alot more In the airport hotel activity -based costing is not broadly used while target costing has squat adoption level. But standard costing is most popular costing used in the hotel 2.3 MANAGEMENT ACCOUNTING SYSTEM AND DECISION MAKING IN HOTEL A RELATIVE ILLUSTRATIVE STUDY OF LAGOS AIRPORT HOTEL The business success of the business depends to a very large extent upon the capacity of top management to develop the appropriate strategies in a number of issues which conform to the business corporate strategic goals The hotels have typically diverse level of decision making. Management at each level takes decision that are within its capability and responsibility For each level of decision making management accounting system has been found to provide appropriates information required for management decision making. To be specific the management accounting information system was found to be helpful to the hotel management to formulate and execute Strategies concerned with volume and capacity Strategies for assessing the relative profitability of division/ department or revenue area Strategies for pricing in condition of hotel space capacity Strategies for selecting product/service range where there are capacity or other constraints. Marginal costing is used by the hotels for cost structure and pricing decision. The marginal costing is mainly used for short-term planning, while activity based costing is the favoured costing method for long term strategic planning. The cost -volume -profit approach to decision (e.g Breakeven analysis) are widely produces to assist management in decision making . this assist them in evaluating current and future events regarding sales revenue inflow and cost outflow Cost volume profit analysis(CVP) cost are separated into variable and fixed componenets. They are then used to make informed and rational decision TABLE SHOWING Break even sales Break even sales equitation for Loding unit for 2009(See Financal hilghlight week6 project outline) The fixed costs(FC) are N197,702 , sales revenue N568,900 and variable cost (VC) are N63,968 .what is breakeven sales revenue? The break even point(BEP) = Fixed cost (Sales revenue Variable cost) = 197,702 (2053-230) BEP = 108 Rooms per day. Fig2: Break even revenue FC / 1-(variable cost/sales revenue) 197702/ 1- (N63,968/N568,900) 197,702/88.7% = N222,888 CVP analysis is a logical extension of breakeven analysis in hotels business it is used to make the following decision among others. At what level of sales revenue will operating income be TARTGETD INcme may be 700,000,000 How much must sales revenue increase to cover a new fixed cost If room rates are changes, what will be the effect on rooms sold? Whether to give bulk discounts or not? New investment decision SECTION 3 BUDGETING PROCESSING REVIEW BUDGETING AND BUDGETARY PROCESS OVERVIEW IN HOTEL INDUSTRY The objectives of organisation will be faciliatated by the implementation of an efficient budgeting, this because the whole essence of budgeting is to ensure that the allocation of resources is palnned to avoid waste and promote profitability For hotel managers to make meaningful decision about future, a manager must look ahead(Budget) Antril. P Mclaney.E (2009) Martin Micheal (2004) argued that for hotel or restaurant operators or manger the budget might be no more than looking ahead to tomorrow, estimating how many guests per night , estimating how many customers will eat in the restaurant etc Budgets not expressed in monetary terms could involve numbers of guest to be served, number of rooms to be occupied, number of employees required, or some other unit as opposed to monetary value Agara(2007), Martin Micheal (2004) identified the three main purposes of budgeting in hotels business To provide organised estimates of future unit sales, sales revenues, expenses, net income, staffing requirements or equipment needs, broken down by operating period and department To provide management with long-term and short term goals. To provide a method of control so that actual results can be evaluated against budget plans and adjustments, if necessary can be made The budgetary cycle or process is a five part process that involved the follows Establish attainable goals or objective Plan to achieve these goals or objectives Compare actual results with those planned , and analyse the difference(variance) Take corrective action required Improve the effectiveness of budgeting The starting point in budgeting is to forecast sales revenue, in hotel operation in forecasting the mnager usually considered past actual sales revenue and trends, current anticipated trends and the economic, competitive and limiting factors. Once the sales revenue had been forecast, direct operating expenses can be calculated based on anticipated sales level and undistributed expenses allocated or deducted to arrive at the net income. The various types of budgets include fixed, flecible, capital budget, operating , departmental,master budget etc Zero based budgeting (ZBB) this budget is found useful for controlling and controlling hotel operation, as the name implies no expenses can be budgeted for or incurred unless they are jusitified in advance. ZBB requires each department head to jusitify in advance the entire annual budget froma zero base. The department manager responsible for the cost prepare the analysis. After each department or division is anakysed , management ranks all decision unit and the final budget is allocated according to this ranking The variance analysis is useful tools for budgetary control as it is used for isolating the cause of difference between budgeted and actual figures. SECTION 4: FIRM PERFORMANCE ANALYSIS4.0 LAGOS AIRPORT HOTELS FINANCIAL STATEMENT AND PERFORMANCE ANALYSIS The financial report present merely a stewardship report . if the information is to have real meaning both to the management and other users of the report, it must be subjected to a process of analysis and interpretation. To do this, various stastics yardstick or analytical tools like ration analysis, comparative analysis, common size vertical analyisi , trend analysis/ percentage can be used. Ratio analysis is concerning with expressing relationship between inputs and output, the objective of ratio analysis is to construct a framework of such relationship which are important for the success of the company. One part of this framework bring together all these aspect of the business which contribute to profitability both fot the company and owners, another part of the framework assesses the liquidity of the hotel, the remaining part reflect the hotels standing or viability for the future. Table : Lagos Airport Hotel financial performance Anaysis for 5 years 2009 2008 2007 2006 2005 Profitability Ratio Gross profit Ratio or Margin 63.5% 46.5% 51.8% 68% 67.6 Net profit ratio or margin 17.2% 1.3% 4.3% 17.4% 15.7% Return on Capital employed 63.7% 3.9% 12.3% 43.1% 61.1% Liquidity / Investment Ratio Current Ratio 1.2:1 1.3:1 1.34:1 1.37:1 2.05:1 Gearing Ratio 103% 91.4% 91.7% 93.5 49% Total Debt to shareholder fund 193% 169% 171% 166% 156.8% Earning per share 2.47 0.14 0.42 1.5 1.25 Comments: Gross profit ratio which indicates the gross margin on sales in a period is steadly show a sign of improved 2009 from downward slope that occurred between 2008 2007, however the gross profit ratio needs improvement The net income ratio and return on capital which indicates a relative efficiency of the hotels business and overall profitability of the business is worrisome even with 17.3% for net return 63.7 ROCE for 2009 the performance is still far below expected returns level and it glaring that the hotel has been performance in term of profitability badly. For the hotel to remain operation for the nearest features it must be profitable and liquid. The strategy to adopt here is for the hotels managemenet to reduce its operational cost, improve revenue per guests,rates of occupany and innovate a new products or service that can improve revenue and profitability stream. The liquidity position of the hotel is far below ratio 2:1 recomended for healthy company, liquidity ratio measure the ability of a firm to meet its short -term obligations and reflect short term financial strength of the firm while the gearing ratio is extremely high as the company operation is funded from debts and depend on borrowed fund for expansion which is very vulerabilty to earning of shareholders and poses a possibility of take -over or bankcruptcy. The overall trend analysis for the hotel(see apendix2) provides uselful insight into some of the factors that might contributed to this aweful financial position Interestingly, many individual operating ration are specifically available for hospitality industries which focus on internal operation like rooms/accommodation, Foods Beverage analysis and decision making. Some of these analysis includes but not limited to income per guests for each division, costs per guest by items, foods and or beverage cost percentage, labor cost percentage average foods or beverage dollar/Naira by meals period and by revenue areas, seat turnover by meals period etc In the rooms or lodgimg division average rate per occupied room, revenue per available room (REVPAR) , Occupancy percentage, annual revenue per room, labour cost percentage etc The internal analysis of the above influenced the management decision making in term of improve sales level, directing efforts into selling higher priced rooms rather than lower priced, increasing rate of occupancy percentage or average room rate. On the impact of success critical factor(CSF) on the financial performance, the monetary indicators, grosss operating profit per available room was used SECTION 5 : CAPITAL INVESTMENT ANALYSIS 5.0 CAPITAL BUDGETING TECHNIQUES IN HOTEL INDUSTRY The largest investment that hotel or food seervice business has to make is in the land and building (Martin Micheal 2004) . The hotels management also make frequent investment decision for items such as equipment, furniture purchases and replacement. Due to elongated life time and colossal of capital outlays entail for capital investment, management espoused a more pragmatic approach and use appropriate capital investment control methodology to ensure right capital investment decision making There are hazard in making capital investment, the hazards can be seldom be eliminated but there are techniques available that allow the manager to reduce some of the quesswork The Lagos Airport hotels use Payback period and net present value, rn as a tools to guide investment decision A Case study of capital investment decision making in Lagos Airport Hotel A typical capital investment decision techniques is the Lagos airport hotel was contemplating of improve the restaurant services and planning to purchase a new type of oven and other modern kitchen apparatus. Or invest in Cinema or Casio Opertaion The hotel management is provided with two alternative investment option to choose from with their annual net cash inflows over the five -year investment period Year Otption1- Restaurant Improvement Option2- New Cinema Casio Centre 1 1,200,000 630,000 2 1,290,000 870,000 3 1,320,000 1,275,000 4 1,230,000 1,725,000 5 615,000 1,815,000 The initial investment outlay of N4,950,000 NPV is at 12%, Would either of them be a good investment for the hotel? Solution Option 1 -Restaurant improvement Net cash flows Cumulative net cash flows Year 0 Cost investment (4,950,000) (4,950,000) Year1 Net Saving 1,200,000 (3,750,000) (-4,950,000 + 1,200,000) Year 2 Net saving before Dep 1,290,000 (2,460,000) (-3,750,000 +1,290,000) Year 3 Net saving before Dep 1,320,000 (1,140,000 ) (-2,460,000+ 1,320,000) Year4 Net saving before Dep 1,230,000 90,000 (-1,140,000 +1,230,000) Year5 Net saving before Dep 615,000 705,000 ( 90,000+ 615,000) Option 1 Payback period = 3 years, 11 months plus 4 days Option 2 -New Cinema CASINO CENTRE Net cash flows Cumulative net cash flows Year 0 Cost investment (4,950,000) (4,950,000) Year1 Net Saving before Dep 630,000 (4,320,000) (-4,950,000 + 630,000) Year 2 Net saving before Dep 870,000 (3,450,000) (-4,320,000 +870,000) Year 3 Net saving before Dep 1,275,000 (2,175,000 ) (-3,450,000+ 1,275,000) Year4 Net saving before Dep 1,725,000 (450,000) (-2,175,000 +1,725,000) Year5 Net saving before Dep 1,815,000 1,365,000 ( -450,000+ 1,815,000) Option 2 Payback period = 4 years, 3 months The analysis above showed option 1 have a shorter pay back period and logic of using pay back period is that projects that can recoup their cost quickly are economically more attractive than those with longer payback(Antrill Mclaney 2009) so Option 1 is to be selected based on pay period methods. The major drawback o9f pay back period is that it ignore cash flow after the payback period and it does not take time value of money(Effect of inflation/ interest /risk etc) into consideration NET PRESENT VALUE(NPV) Net present value methods of appraisal consider all of the costs and benefits of each investment opportunity and make a logical allowance for the timing of those costs and benefits The NPV is consider better among all other investment appraisal techniques because of cashflow timming recognition, uses of all relevant cash flow and meet the objective of the business which to increase owners wealth LAGOS AIRPORT HOTEL USING NPV METHOD OPTION1 -Restaurant Improvement NPV Option 2 New Cinema Casino centre Time Cash flow N NPV (12%) Cash flow N NPV Year0 (4,950,000) (4,950,00) (4,950,000) (4,950,00) Year1 1,200,000 0.8929 1,071,480 630,000 562,527 Year 2 1,290,000 0.7972 1,028,388 870,000 693,564 Year 3 1,320,000 0.7118 939,575 1,275,000 907,545 Year 4 1,230,000 0.6355 781,665 1,725,000 1,096,238 Year 5 615,000 0.5066 311,559 1,815,000 919,479 -817,333 -770,647 Here we must ask how can management decide which option or project is acceptable, judging by NPV decision which stated that If the NPV is positive the project should be accepted, if it is negative the project should be rejected If there are two (or more) competing projects/options that have positive NPVs, the project with higher (or highest) should be selected. In this case of Lagos Airport hotel non of the two option is Negative and it should be rejected unless management has other non financial benefits attached with options which may still at long run contribute to the actualisation of the hotels strategic goals. SECTION 6: COMPETITIVE ANALYSIS COMPETITIVE ANALYSIS As usual for business environment in the hotel industry is a highly competitvive, and Lagos Hotels Limited found itself in a such competitive based marketing segment with more than 5000 operators in the market. Significantly the hotels has the followings 7 majors/ market leaders to complete with Sheraton Hotels Tower, Pretoria Hotels, Federal Palace Hotels, Lagos Hilton Hotel, Excellence Hotel, PVC Hotels and Reassurance Hotels The core keys advantages of competitors in Comparism with Lagos airport range from their location advantage(Most of them located in Victoria and ikoyi areas of Lagos that accommodation the major businesses in Nigeria) International Operations advantage, 21st century well designed architectural building , modern facilities luxury, Branding, high Price advantages, innovation program (Customer Loyalty Program) etc The major advantages of Lagos airport is strategic location in the ikeja but with old building structures Next to Lagos is Victoria Island, which takes while to get to, about 2hrs, this is because of the amount of traffic and chaos on the roads, also some of the roads are in a bit of a mess, pot holes that can swallow you without trace. Victoria island is modern, and the Hotel Eco is very good, but costs  £250 GBP per night note the Sheraton in Lagos is also modern and costs  £300-350 per night, bottled water in the Eco was  £4, but if you are spending  £250 a night who cares, you must keep drinking water in this heat. These hotels do cost more than a London Hotel, but then there is no where else decent apart from Lagos Airport Hotel. Note the Airport Hotel was  £100 per night, I booked at the desk where ther is a written price sheet on the wall, you will have to put down a security deposit but you do get this back at the end of your stay. SECTION 7: BALANCED SCORECARD APPLICATION OF BALANCED SCORED CARD FRAMEWORK (A CASE STUDY OF LAGOS AIRPORT HOTEL) Balanced scorecard as the name suggested offers a more balanced view of a firms or of a managers performance by intergrating both financial and non financial information in a coherent fashion .This overcomes one of the obvious defects of traditional performance measurement systems which places undue emphasis on historical financial information. For long term effective and efficient performance, especially in hotel enterprise, the information related to service quality, introduction of new products, service, additional supply, entrance on new market, the competitor performance and human capital relation management is vital. Goardana Mateja also empaciated the need for balanced score card application in hotel indsutry The hotels operations are oriented towards people and to that end their financial performance depends on the behaviour and manners of hotels employees, the development of new products and service and as the most important , guest satisfaction In Lagos airport hotel use it to implement strategies of a change/ restructing in management programme undergo in 2009 Apart from using it to create a link between the performance measurement indicators and hotel strategies, Management use it to communicate strategy to both managers and staff. At operational level the Balance scored card are use to align employess efforts with those reuired for successful strategic implementation However, successful implementation of a balanced scorecard is not a trivial matters especially for hotels like Lagos Airport Hotels that is Government owned which make some top management appointment political in nature. Apart from this balanced scored concept is simple but it implementation is found to be time consuming and costly task especially to hotel like Lagos Airport with weak financial resources and manpower to support the practice of this new management concept in the longrun. Table: Lagos Airport Hotel Balanced scorecard Hotel Management Balanced Scorecard Managing the day to day activities of a hotel can be facilitated with the help of KPIs. KPIs, on a BSC are the means to attain the end of Measuring Performance. Such tool can be used when umpteen external and internal forces have a bearing on the organi Perspective Performance Financial Perspective 53.63% Customer Perspective 65.56% Efficiency 29.67% Staff perspective 65.78% Total Performance 54.85% Scorecard includes 4 categories, 17 indicators Strategy tree and scorecard details : Perspective Goal Weight (x of 10) Description Performance (%) Measure unit Target Values Financial Perspective 3 53.63% Wage Costs as a % of total sales 3 It refers to wage cost as a % of total sales of the hotel. 40% % 0% Annual operating profit per room 3 It refers to annual operating profit per room available in the hotel. 10000 $ 25000 Food cost as a % of food sales 2 40% % 0% % increase in labor costs 2 20% % 0% Total Performance in group Financial Perspective 53.63% Customer Perspective 3 65.56% Number of positive feedbacks 3 It refers to number of positive feedbacks received from the customers (on a scale of 1 to 10). 9 Score 10 Number of complaints received 2 It refers to number of complaints received from the customers regarding the services provided by hotel (on a scale of 1 to 10). 3 Score 10 Response rate 3 Metric is not available in trial version 1 minutes 1 Frequent customers as a % of total customers 2 Metric is not available in trial version 30% % 100% Total Performance in group Customer Perspective 65.56% Efficiency 2 29.67% % of room booked through reservation channels 2 It refers to % of room booked through reservation channels maintained by the hotel. 25% % 100% Internet bookings 2 indicates the % of bookings received through internet services. 30% % 100% Room occupancy 2 Metric is not available in trial version 60% % 100% Rate of sales inquiry conversion 2 Metric is not available in trial version 30% % 60% Average length of stay 2 Metric is not available in trial version 2 days 4 Total Performance in group Efficiency 29.67% Staff perspective 2 65.78% Staff turn

Veronika Decides To Die :: essays research papers

The book is about a lonely young man, Frederick Clegg, who works as a clerk in a city hall, and collects butterflies in his free time. The first part of the novel tells the story from his point of view. Frederick is attracted to Miranda Grey, an art student who he thinks is very beautiful. He admires her from a distance, but is unable to make any contact with her because of his weak social skills. One day, he wins a large prize in the pools. This makes it possible for him to stop working and buy an isolated house in the countryside. He feels lonely however, and wants to be with Miranda. Unable to make any normal contact, Frederick decides to add her to his 'collection'. After careful preparations, he kidnaps Miranda using chloroform and locks her up in the cellar of his house. He is convinced that the girl will start to love him after some time. However, when she wakes up, Miranda confronts him with his actions. Frederick is embarrassed, and promises to let her go after a month. The second part of the novel is narrated by Miranda in the form of fragments from a diary that she keeps during her captivity. She is scared by Frederick, and does not understand him in the beginning. At first she thinks that he has sexual motives for abducting her, but this turns out not to be true. She starts to have some pity for her captor, comparing him to Caliban in Shakespeare's play The Tempest because of his hopeless love for her and his deformed way of thinking. She tries to escape several times, but Frederick is able to stop her every time. She also tries to seduce him in order to convince him to let her go. The only result is that he becomes confused and leaves the room. When Frederick keeps refusing to let her go, she starts to fantasize about killing him.

Using Computers for Entertainment :: Expository Essays Research Papers

Using Computers for Entertainment In the past, you played board games with friends and family members, viewed fine art in an art gallery, listened to music on your stereo, watched a movie at a theater or on television, and inserted pictures into sleeves of photo albums. Today, you can have a much more fulfilling experience in each of there areas of entertainment. In addition to playing exciting, action-packed, 3-D multiplayer games, you can find hours of entertainment on the computer. For example, you can make a family tree, read a book to magazine online, listen to music on the computer, compose a video, edit pictures, or plan a vacation. These forms of entertainment are available on CD-ROM, DVD-ROM, and also on the Web. On the Web, you can view images of fine art in online museums, galleries, and centers.1[1] Some artists sell their works online. Others display them for your viewing pleasure. You have several options if you wish to listen to music while working on the computer. Insert your favorite music CD into the CD or DVD drive on your computer and listen while you work. Visit an online radio station to hear music, news, and sporting events (Peyton 25). At some of these sites, you even can watch videos of artists as they sing or play their songs. Instead of driving to the music store or video store to purchase music or movies, you can buy them on the Web. After paying for the music or movie online, you download it to your hard disk. Once on your hard disk, you listen to the music or watch the movie on the computer. Or, you can transfer it to a CD using a CD-RW and play the music on any CD p layer or the movie on a DVD player (Microsoft Word 2002 Project 2). Some people prefer to create their own music or movies. You can compose music and other sound effects using external devices such as an electric piano keyboard or synthesizer. You also can transfer or create movies by connecting a video camera to the computer.

Adn vs. Bsn Essay

The nursing profession continues to argue whether a nurse who holds a BSN is desirable to the Associates-Degree-prepared nurse. This has been a topic of debate since 1965, when the American Nurses Association published an opinion paper advocating for the baccalaureate degree to be the minimal standard for entry-level nurses. While some say that the level of education isn’t relevant once you orient a nurse to a certain setting, others disagree and assert that the baccalaureate degree prepared nurses demonstrate higher levels of skill in communication, delegation, assessment, teaching and supervision. Most agree, however, that each degree program provides a different level of preparation and competencies for the graduating nurse. The focus of ADN programs has been to prepare the nurse with considerable clinical experience and technical nursing skills needed to provide patient care at the bedside, while the BSN program concentrates on evidence-based practice, research, leadership skills and communication. An additional difference is the target client. Associate-degree graduates are prepared to meet the needs of the patient. The baccalaureate graduate’s scope is widened to include the family and interdisciplinary groups. According to a study done in 1988 by the Texas Higher Education Coordinating Board, nursing competencies across the spectrum of nursing education, â€Å"varied in complexity, depth, and breadth. †(Poster, 2006) Entry-level competencies were evaluated on three categories: provider of care, coordinator of care, and member of a profession. There was virtually no difference noted in the provider of care category other than the use of an evidence-based analytical approach by the baccalaureate-prepared nurse, as opposed to a critical thinking approach to decision making by the associate-degree-prepared nurse. In the category of coordinator of care, the major contrast was between how the advanced-degree-prepared the nurse to act as more of a facilitator of care between multiple factions of the healthcare team. As a member of a profession, the BSN nurse acted as a leader rather than in the participant role of the ADN nurse. Where the major differences occurred was in the â€Å"knowledge required for achievement of competency. †(Poster, 2006)The diploma prepared nurse bases her plan of care on the nursing diagnosis. The advanced-degree nurse’s basis for developing the plan of care uses â€Å"evidence-based and theoretical analysis of available data. †(Poster, 2006) An example of this difference might be in the care of patient who has a chronic condition, such as congestive heart failure. This patient undoubtedly is seen multiple times in the course of a year for symptoms pertaining to his health condition. Nurse A, with the associate’s degree, does a good job of taking care of the patient. She sees to it that he gets all of his medications in a timely fashion, and that he completes all of his scheduled tests; that his basic needs are met. Her plan of care would include all of the interventions to reflect such care. She would weigh him daily, make sure his meals followed the proper diet, and etc. Nurse B, with the BSN, also provides the afore-mentioned care. However, in addition, she may look at why this patient has frequently been admitted to her floor. She would perhaps investigate whether the same symptoms precipitated his decline and question the patient as to whether he is weighing himself daily, what types of food he is eating at home, and whether he has been taking his medications on a routine basis. She might find that he doesn’t have a scale at home, does not have access to his medications all of the time, or is simply non-compliant. Her plan of care may include a social worker and case management are more involved in his discharge planning to insure that the patient has the equipment and resources required to manage is illness at home. Nurse B might also collaborate with the patient to develop a plan he can agree to follow and provide a list of community resources that are available. Both Nurse A and Nurse B have seen to it that the patient got what he needed during his hospital visit. The healthcare industry is changing rapidly. The life expectancy of the average patient has extended due to the increase in technological advances and life-saving measures and requires that professional nurses have the ability to mange these complex patients. The baccalaureate-degree program provides an opportunity to build on the communication, problem-solving and decision-making skills taught in the ADN program to facilitate better patient care. Whether it be a an associate-degree-prepared nurse or one holding an advanced degree, one thing I am sure we can all agree upon is that better educated nurses will better serve the profession as a whole.

Affirmative Action is Reverse Discrimination Essay

Racial discrimination has long been an issue especially in the United States which is considered as a melting pot of different people from different ethnic and cultural backgrounds. Black people have experienced extreme even radical form of discrimination for centuries, but now, the black people found an ally in the affirmative action policy. This policy, after some time of implementation sparked debate since some people, even the blacks themselves, say that giving racial preferences is never a good thing. The policy has affected admission aspects in schools and employment in jobs. Two job applicants, a white male and a black male, even with the same qualifications, the black male will likely get the job because of racial preference provided by affirmative action. Black people are being given a definite advantage and white people would find this an unfair treatment. The same goes for school admission policies where minorities are being given a higher preference over white people in order to maintain a diverse student body. Thesis Affirmative action laws were made to eliminate or reduce discriminatory acts but there are numerous claims that these laws have reversed the tide. Affirmative actions laws may no longer be considered fair in this current setting since it only results in reverse discrimination and it is no longer an effective means of providing opportunities for minority groups. This reverse discrimination is constituted by racial preferences for blacks. This racial preference clouds the judgment of many educational institutions and employers since racial background is being analyzed instead of just the plain qualifications which some white people might find inappropriate. Affirmative action was envisioned to put an end to racial discrimination especially against black people. Under this policy, black people were given higher preferences in job and in admission policies in universities. This is however not an answer to eliminating discrimination. Instead of giving higher preferences to those people who are being discriminated such as the black people, a better alternative solution to racial discrimination would be to find steps to eliminate discriminatory acts and leveling the field so that all people from different ethnic backgrounds will be presented with equal opportunities. Since the black people are being given higher preferences, this may appear as a form of discrimination against white people. Affirmative action, instead of fulfilling its intention of eliminating discrimination, rather contributes to it. One of the major focuses of the affirmative action debate is its inclusion in university admission policies which show higher preferences for black applicants. Many people have been calling for the ban of the use of affirmative action in the public arena. Voters in California, Washington and Michigan have already submitted amendments to their state constitutions that would prohibit the use of affirmative action in the public setting (Prince & Ryan, 2007). According to actor and columnist Joseph Phillips, affirmative action is not an issue of nondiscrimination, it is now about racial preferences. He emphasized on the point that racial preferences is not an effective way of fighting racism, instead, it brings about negative stereotypes especially in the educational sector wherein it pertains to a person’s intellectual capacity and academic capabilities (Prince & Ryan, 2007). In a Supreme Court ruling in 2003 which involves the University of Michigan which makes use of racial preferences in its admission policies, the court highlighted the goal of having a diverse student body which is brought about by affirmative action but critics say that this decision by the court would only spark more law suits and that the critics of affirmative action would continue to put pressure on the Department of Education to discontinue the use of the policy (Marklein, 2003). Evidences have been presented regarding the effects of affirmative action; however, these evidences always seem imperfect and ambiguous. A review of the policy during the Clinton administration indicated that active federal enforcement of the policy in the 1970s resulted in government contractors moderately increasing the hiring of minority workers. Studies have indicated that there is only a meager increase in the employment of black males. Employment share of black males in contractor firms in 1974 was 5. 8 percent and this figure only increased to 6. 7 percent in 1980. On the other hand, the increase in non-contractor firms was from 5. 3 percent to 5. 9 percent. Also, a substantial number of black government employees got their jobs or promotion to managerial rank because of affirmative action even if qualifications are questionable (Galston). In the education sector, it was only during the height of the affirmative action policy that the enrollment of black people was on a steady rise. From only 4. 9 percent in 1955, black enrollment went up to 7. 8 percent in 1970. The figure further increased to 9. 1 percent in 1980 and 11. 3 percent in 1990. On the other hand, according to a report from the Census Bureau, Hispanics holding bachelor’s degrees or other advanced degrees went up to 9 percent in 1994 from only 5 percent in 1970 while the rate for blacks is 12. 9 percent from 4. 5 percent (Galston). Another issue that rises with affirmative action is that minority groups may gain an image of inferiority since the whites may think that a black student was able to enter the university or a black person is able to get a job only because of affirmative action even if the black person has all the necessary qualifications (Hoffman). Overall, the past 30 years has been fruitful for the black people as they generally lived better lives with better education and income all because of racial preferences. This has resulted into what Seymour Martin Lipset classifies as a â€Å"growing differentiation† within the community of black people from the growing black middle class to the ghetto poor. The affirmative action program would work better if it would remove barriers for those who have the credentials to succeed instead of giving them a definite advantage in admissions. Anti-Thesis Supporters of affirmative action make use of the argument that it is necessary for the people compensate for years of discriminations against blacks. Many black people approve of affirmative action because it provides recompense against the discrimination that they have experienced and endured in the past but not all black people share this kind of insight. Steele said that, theoretically, affirmative action is in moral symmetry with fairness. She described the policy as reformist and corrective as well as repentant and redemptive. The country is trying to make up for its sins and wants to correct it but black people will lose more than what they will gain from the policy (Steele). Some also argue that it is difficult to remove stereotyping and discrimination without the policy and that it is needed to maintain diversity. Another argument states that affirmative action should continue because racism still exists in this society. The argument that affirmative action is needed for the white people to compensate for the discrimination against blacks is shrouded in hatred and appears as a form of retaliation against the white people. However, retaliation will not improve the situation. It might even spark more discrimination against black people if affirmative action policies continue to be implemented and this could lead to more hatred and discrimination against the minority groups. According to Kimberle Crenshaw, a professor of law at the University of California, affirmative actions removes the obstacles so that people from the minority groups can qualify and compete. With affirmative action, blacks, Hispanics and other minority group find it easier to get a job because of racial preferences geared toward these minorities (Prince & Ryan, 2007). Affirmative action exists because there is discrimination, if there is no discriminations, affirmative action would not be needed in this society. The fact that affirmative action exists is because there is still discrimination and it is still needed in the current setting. Those who believe that affirmative action is in conflict with their interest must be made to see what benefits it provides to the society. Racism is still dominant in the United States which is why affirmative action must stay (Noguera, 1996). According to Linda Chavez, founder and president of the Center for Equal Opportunity, the Michigan University case speaks of admission and scholarship programs for minority groups which make use of substantially different standards and must include the racial background. People against the policy said that they will take their case to the ballots but the court has already made it clear that it is the university’s prerogative to include race in the admission policy to ensure the diversity of the student body (Marklein, 2003). The 2003 Supreme Court ruling allowed admission officials to consider race in the selection process. Colleges and universities have no obligation to use racial preferences but they may adopt such policies to meet a satisfactory level of student diversity. Arthur Coleman, a former official under the Department of Education said that adopting diversity is a choice and is not mandated by any law or policy. According to a survey by Public Agenda, 79 percent of Americans agreed that it is important for schools to have a diverse student body while only 54 percent approved of affirmative action programs. In a separate poll conducted by Gallup before the court handed out its ruling, only 49 percent said that they are in favor of affirmative action while 43 percent said that they are not in favor (Marklein, 2003). Synthesis Affirmative action was made to eliminate discrimination but discrimination would not likely be eliminated if the method used to eliminate it is discriminating in itself since it results in a reverse discrimination. Instead of blacks being discriminated, the white people are now the ones being discriminated because of racial preferences given to black people in school admission policies and employment opportunities. Arguing that affirmative action is fair because blacks were once discriminated to a great extent is not valid since it is only driven by hatred towards white people who were discriminating the blacks and other minorities (Steele). Also, continuing affirmative actions only causes white people to hate the blacks because of the racial preferences that they are being handed. White people who believe that they have the qualifications but are turned down while a black person gets in may think that affirmative action gave him a disadvantage and not because the black person is really qualified (Hoffman). Affirmative action will not eliminate racial discrimination but it rather contributes to it. The policy may have its benefits every now and then, but generally, it is no longer applicable in the current setting as more and more white people are feeling the negative effects of the policy. It does remove barriers so that people from minorities can compete but it comes with a price. They gain an image of inferiority because people may think that it is only because of affirmative action that they have reached a certain level of success and not because they are really qualified (Hoffman). The Supreme Court has handed out its decision in the Michigan University case and the decision maintained that the school may use the race as part of the admission policy to maintain the diversity of the student body. Even without affirmative action, colleges can use race as a basis of application to meet a desired rate of student diversity since having a diverse student body promotes a better learning environment (Marklein, 2003). Ultimately, data indicates that affirmative action is no longer effective which means that it is time to adopt an alternative policy (Galston). A better way of embracing diversity would be to encourage minorities from a young age to work for their goals and get a good education. Assisting people from poor socio-economic backgrounds to gain resources and motivation should also be done so that they will also be competent when it comes to school admission and job-seeking. This is a lot better than giving them preferential treatment because they would not be treated as inferiors (Hoffman). Conclusion To conclude, affirmative action may have been an effective way of reducing racial discrimination against minorities, but now, it is no longer applicable to be used in the current setting since it results in reverse discrimination. The white people are now put in a seat that was once held by other minorities. Affirmative action might trigger hate targeted towards the blacks and other minorities because of the reverse discrimination. The policy which gives racial preferences also connects inferiority with minority groups. A better way of eliminating discrimination is by leveling the playing field not by racial preferences but by providing equal opportunities for whites and minority groups. References Prince, Andrew & Ryan, Erica. 21 November 2007. Is it Time to End Affirmative Action?. National Public Radio. Retrieved July 8, 2008 from http://www. npr. org/templates/story/story. php? storyId=16337441 Marklein, Mary Beth. 24 June 2003. Despite ruling, affirmative action debate is far fr