Blaine Case

Official Summary: In outline, proposal by the broker to repurchase 14 million remarkable portions of Blaine Kitchenware with $ 50 million obligation and $209 million money close by would bring about after monetary measurement changes: * Increase the estimation of the firm through the advantage of duty shield from current $960million to $1. 063billion. * The offer outcomes in 3% expansion in EPS from $0. 91 to $0. 93 dependent on 2006 money related numbers. * An expansion of 7. 3% on ROE from 11% to 18. 3% dependent on 2006 money related numbers. * After modification, share costs will be $18. 0. Proposed Buy-Back Plan Analysis:Although Blaine’s current money related circumstance is sound with no obligation, its present monetary record is under turned and over fluid contrast with its companions. The current money related structure wins little profit for the momentary resources while doesn't permit the firm to profit by any obligation premium duty shield. The proposed capital str ucture will profit the organization by turning its asset report. It will give an intrigue charge shield to the pay accordingly expanding the estimation of the firm for the investors. Since enthusiasm on obligation is a duty deductible cost, assuming obligation will viably bring down the available salary permitting the firm to pay less tax.The current enormous money and momentary attractive protections on the monetary record make Blaine an alluring objective for a dominate. The enormous money on monetary record could viably be utilized as an insurance to fund a dominate or merger of Blaine. Such attributes pull in private value firms in which can use the over-fluid circumstance for their potential benefit. The current develop nature of business additionally requires a turned capital structure. A firm in this circumstance ought not follow a hierarchy, as it would hold down the estimation of the firm while making it alluring for a dominate or merger.Less money in asset report additiona lly diminishes office cost by compelling directors to put distinctly in circumstances that are lined up with investors vision and premium in this manner lessening inefficient speculations not profiting investors. Concerning the future acquisitions, Blaine can either utilize obligation or issue stocks when proper. Moreover the proposed share repurchase will give more control to family speculators. Since beginning IPO and past acquisitions has weakened the offers, family control in Blaine has been on decrease and a wellspring of concern.The proposed share repurchase will return more control into family investor hands further setting their help for the new capital structure. The repurchase offer would influence both pay explanation and monetary record of the firm. To be determined sheet obligation is expanded by $50 million, money is diminished by $209 million while value is decreased by $259 million. The rest of the money can be utilized to finance occasional pinnacle activity in blen d with extra transient obligation should it be required. Our EPS will increment by 3% to $0. 93 from current $0. 91 and our ROE will see a huge increment from 11% to 18. % further bringing Blaine closer to its rivals. The consequence of extra obligation in a critical position sheet will expand the estimation of the firm from current $960million to $1. 063billion while balanced offer costs will ascend to $18. The expansion in share esteem is because of increment in the estimation of the firm from $960million to $1. 06billion due to turning up the firm since estimation of any turned firm is its unlevered esteem in addition to its assessment rate duplicated by its enthusiasm bearing obligation. The $18. 50 offer holds a premium over balanced future offer cost of $18 hence making the proposed capital structure appealing to shareholders.The obligation to value proportion of 2. 5% is as yet traditionalist and lined up with the vision of the organization not to over use obligation in its c apital structure. Moreover the expansion in Enterprise Value to EBITDA proportion from 9. 9% to 14. 8% will make the firm progressively exorbitant to be obtained along these lines less appealing for a dominate. A profit strategy instead of the stock repurchase won't give a similar incentive to the organization and its investors. Profits are exposed to higher duty rate contrast with capital addition expanded because of offer purchase back.This debilitates investors from want to get high profits instead of higher capital addition as offer qualities increment. An examination is made underneath between the proposed capital structure and profit strategy. | Share buyback| One-time extraordinary money dividends| Pros| Increase EPS/ROE, pos. indication of future profit, Lower charge rate contrast with div policy| Happy investors, positive indication of future income, | Cons| Limiting liquidity, opportunity cost | Limiting liquidity, opportunity cost, higher expense rate contrast with capita l addition policy| Share outstanding| Decrease| No change|EPS| Increase| No change| ROE| Increase| In rundown we suggest the offer repurchase plan, as it will build the estimation of the firm, shield some portion of pay from charges, increment return on value and brings down organization cost. The expansion in estimation of the firm and lower money close by additionally makes the firm less alluring objective of a dominate. Supporting Material: Case Exhibit 1 Income Statement| | With Repurchase Option| |  | | |Operating Results:| | 2004 | 2005 | 2006 | 2006 | Revenue| | 291,940 | 307,964 | 342,251 | 342,251 | Less: Cost of Goods Sold| | 204,265 | 220,234 | 249,794 | 249,794 | Gross Profit| | 87,676 | 87,731 | 92,458 | 92,458 | Less: Selling, General and Administrative| 25,293 | 27,049 | 28,512 | 28,512 | Operating Income| | 62,383 | 60,682 | 63,946 | 63,946 | Plus: Depreciation and Amortization| | 6,987 | 8,213 | 9,914 | 9,914 | EBITDA| | 69,370 | 68,895 | 73,860 | 73,860 |  | |  | |EBIT| | 62,383 | 60,682 | 63,946 | 63,946 | Plus: Other Income (expense)| | 15,719 | 16,057 | 13,506 | 0 | No attractive security income| Less Interest| | 0 | 0 | 0 | 3,375 | Tax shield amount| Earnings Before Tax| | 78,101 | 76,738 | 77,451 | 60,571 | Less: Taxes| | 24,989 | 24,303 | 23,821 | 18,629 | Net Income| | 53,112 | 52,435 | 53,630 | 41,942 | Dividends| | 18,589 | 22,871 | 28,345 | 22,167 | Assume same 53% div policy|  | |  | |  | | Margins:|  | |Revenue Growth| | 3. 2%| 5. 5%| 11. 1%| 0. 0%| | Gross Margin| | 30. 0%| 28. 5%| 27. 0%| 27. 0%| | EBIT Margin| | 21. 4%| 19. 7%| 18. 7%| 18. 7%| | EBITDA Margin| | 23. 8%| 22. 4%| 21. 6%| 21. 6%| | Effective Tax Rate (1)| | 32. 0%| 31. 7%| 30. 8%| 30. 8%| | Net Income Margin| | 18. 2%| 17. 0%| 15. 7%| 12. 3%| | Dividend payout ratio|  | 35. 0%| 43. 6%| 52. 9%| 52. 9%| | Case Exhibit 2 Balance Sheet| | With Repurchase Option|  | | Assets:| | 2004 | 2005 | 2006 | 2006 |Cash and Cash Equivalents| | 67,391 | 70,853 | 66,557 | 21,866 | Marketable Securities| | 218,403 | 196,763 | 164,309 | 0 | Accounts Receivable| | 40,709 | 43,235 | 48,780 | 48,780 | Inventory| | 47,262 | 49,728 | 54,874 | 54,874 | Other Current Assets| | 2,586 | 3,871 | 5,157 | 5,157 | Total Current Assets| | 376,351 | 364,449 | 339,678 | 130,678 |  | |  | Property, Plant and Equipment| | 99,402 | 138,546 | 174,321 | 174,321 | Goodwill| | 8,134 | 20,439 | 38,281 | 38,281 |Other Assets| | 13,331 | 27,394 | 39,973 | 39,973 | Total Assets| | 497,217 | 550,829 | 592,253 | 383,253 |  | |  | Liabilities and Shareholders' Equity:| |  | Accounts Payable| | 26,106 | 28,589 | 31,936 | 31,936 | Accrued Liabilities| | 22,605 | 24,921 | 27,761 | 27,761 | Taxes Payable| | 14,225 | 17,196 | 16,884 | 16,884 | Total Current Liabilities| | 62,935 | 70,705 | 76,581 | 76,581 | Other liabilities| | 1,794 | 3,151 | 4,814 | 4,814 | debt| | 0 | 0 | 0 | 50,000 |Deferred Taxes| | 15,111 | 18,434 | 22,495 | 22,495 | Total Liabilities | 79,840 | 92,290 | 103,890 | 153,890 | Shareholders' Equity| | 417,377 | 458,538 | 488,363 | 229,363 | Total Liabilities and Shareholders' Equity| 497,217 | 550,829 | 592,253 | 383,253 |  | EPS |  | Per Outstanding Shares of| Before| $0. 908 | 59,052,083 | After| $0. 931 | 45,052,083 | Improvement| 2. 51%| | ROE|  | @ Book Equity| Before| 10. 98%| $488,363 | After| 18. 9%| $229,363 | Equity Value|  | Vu| $959,596 | VL| $1,063,196 | New Share Prices| $18. 00 | Case Exhibit 3 †Peer Comparison | Home ; Hearth Design| AutoTech Appliances| XQL Corp. | Bunkerhill, Inc. | EasyLiving Systems| | Blaine Kitchenware| Blaine Kitchenware After Repurchase| |  | | Revenue| $589,747| $18,080,000| $4,313,300| $3,671,100| $188,955| | $342,251| 342251. 25| EBIT| 106,763 | 2,505,200 | 721,297 | 566,099 | 19,613 | 63,946 | 63945. 5| EBITDA| 119,190 | 3,055,200 | 796,497 | 610,399 | 23,356 | 73,860 | 73,860 | Net income| $53,698| $1,416,012| $412,307| $335,073| $13,173|  | $53,630| 41941. 55799| | Cash ; securities| $21,495| $536,099| $21,425| $153,680| $242,102| | $230,866| 21,866 | Net working capital*| 54,316 | 1,247,520 | 353,691 | 334,804 | 21,220 | 32,231 | †| Net fixed assets| 900,803 | 7,463,564 | 3,322,837 | 815,304 | 68,788 | 174,321 | 174,321 | Total assets| $976,613| $9,247,183| $3,697,952| $1,303,788| $332,110|  | $592,253| 383,253 | |Net obligation (1)| $350,798 | $4,437,314 | $950,802 | $238,056 | ($64,800)| | ($230,866)| 28,134 | Total debt| 372,293 | 4,973,413 | 972,227 | 391,736 | 177,302 | †| 50,000| Book equity| $475,377 | $3,283,000 | $2,109,400 | $804,400 | $94,919 |  | $488,363 | 229,363 | Market capitalization| 776,427 | 13,978,375 | 5,290,145 | 3,962,780 | 418,749 |  | 959,596 | 1063196. 354| Enterprise esteem (MVIC)| $1,127,226 | $18,415,689 | $6,240,947 | $4,200,836 | $353,949 |  | $728,730 | 1,091,330 | Equity beta| 1. 03| 1. 24| 0.

Slavery in Latin America Essay -- Latin American History Slavery Essay

Bondage in Latin America Chile History Prior to the appearance of the Spanish in the sixteenth penny., the Araucanians had for quite some time been in charge of the land in the southern piece of the district; in the north, the occupants were governed by the Inca domain. Diego de Almagro, who was sent by Francisco Pizarro from Peru to investigate the southern area, drove a gathering of men through the Andes into the focal marshes of Chile however was fruitless (1536) in setting up a decent footing there. In 1540, Pedro de Valdivia walked into Chile and, in spite of bold opposition from the Araucanians, established Santiago (1541) and later settled La Serena, Concepciã ³n, and Valdivia. After an underlying time of unremitting fighting with the locals, the Spanish prevailing with regards to oppressing the indigenous populace. In spite of the fact that Chile was ugly to the Spanish due to its separation from Peru toward the north and its absence of valuable metals (copper was found a lot later), the Spanish built up a peaceful society there dependent on enormous farms and haciendas worked by indigenous individuals; the yields were sent to Peru. During the long frontier time, the mestizos turned into a sharecropper class, called inquilinos; albeit actually free, most were practically speaking bound to the dirt. During a large portion of the provincial time frame Chile was a captaincy general ward upon the viceroyalty of Peru, yet in 1778 it turned into a different division basically free of Peru. Regional cutoff points were not well characterized and were the reason, after freedom, of protracted limit debates with Peru, Bolivia, and Argentina. The development toward freedom started in 1810 under the administration of Juan Martã ­nez de Rozas and Bernardo O'Higgins. The principal stage (1810-14) finished tragically at Rancagua, to a great extent in light of the contention of O'Higgins with Josã © Miguel Carrera and his siblings. In 1817, Josã © de San Martã ­n, with unbelievable hardship, brought a military over the Andes from Argentina to Chile. The next year he won the definitive clash of Maipã º over the Spaniards. The New Nation O'Higgins, who had been picked preeminent executive, officially announced Chile's autonomy Feb. 12, 1818, at Talca and set up a military despotism that described the republic's governmental issues until 1833; O'Higgins administered Chile from 1818 until 1823, when solid restriction to his approaches constrained him to leave. During this time the Britis... ... an immature nation met with little achievement, albeit incredible individual fortunes were amassed from tin mining by investors, for example, Simã ³n I. Patiã ±o. Clashing cases to the Chaco, which was believed to be oil-rich, welcomed on one more tragic regional war, this time with Paraguay (1932-35). The battling finished in 1935 with the two countries depleted and Bolivia vanquished and deprived of the greater part of its cases around there. Projects for restoring the ills of the country were hampered by military overthrows and countercoups. World War II demonstrated an aid to the Bolivian economy by expanding requests for tin and wolframite. Global weight over star German components in the administration in the long run constrained Bolivia to break relations with the Axis and announce war (1943). Rising costs exasperated the fretfulness of the excavators over hopeless working conditions; strikes were mercilessly stifled. The emergency arrived at a top in Dec., 1943, when the nationalistic, genius digger National Revolutionary Movement (MNR) built a fruitful revolt. The system, in any case, was not perceived by other American countries (with the exception of Argentina) until 1944, when star Axis components in the MNR were formally expelled.

Top 10 Communication Tips 2011 #10 COLUMBIA UNIVERSITY - SIPA Admissions Blog

Top 10 Communication Tips 2011 â€" #10 COLUMBIA UNIVERSITY - SIPA Admissions Blog This is the tenth and final entry in our “Top 10? list for you to consider when communicating with our office and applying. Number 10 â€" Subscribe to this blog The best way to stay up-to-date regarding matters of admission is to subscribe to this blog.   Yes the SIPA Web site is a great source of information and you should scour it for information, but for the most part the Web site is static and is rarely updated.   We try to update it as needed, but the blog is much more informative as far as the day-to-day things going on in our office. Over in the right menu of the blog there is an empty box with “Subscribe” written below it.   Simply enter your email and each and every time this blog is updated, you will receive an email message letting you know there is new content. Why is it a good idea to subscribe?   Well for one we try to monitor common questions and post answers to the site for mass consumption.   Two, this is your window into the admission cycle.   We will update you on what is going on in our office.   And finally, this is a great way to find out more about what is going on at SIPA and to learn about fellowship opportunities.   You can consider this to be the most frequently updated Web space concerning matters of admission and financial aid.

Assassination Of Jfk s Assassination - 1140 Words

On the 20th of January 1961, the United States of America elected their 35th President, John Fitzgerald Kennedy. However, two years later, he was assassinated. The assassin, Lee Harvey Oswald was arrested 70 minutes after the assassination. There have been numerous debates over the last 55 years regarding this incident. Many people claim there is a conspiracy behind the case, allowing various conspiracy theories to emerge over the years. One specific theory is about how the mafia was involved with JFK’s assassination. In 1963, the USA Presidential elections were approaching and so JFK and his wife Jacqueline travelled to Dallas, Texas to campaign. On the day of JFK’s assassination, specifically the 22nd of November 1963, JFK, his wife†¦show more content†¦It also concluded that Jack Ruby worked alone when he assassinated Oswald. Lee Harvey Oswald, the assassin, was caught at a movie theatre. Before he could be questioned, Oswald was shot by Jack Ruby, nightclub owner, in the basement of the Dallas Police Headquarters, while being led to a car, which was to transport him to the local county jail. This left the case unsolved as Oswald was not questioned properly. Ruby claimed he was distraught about the President’s death and that he did not want Mrs Kennedy to go through pain at the trial of Oswald, which was his reason for killing Oswald. This raised questions as Ruby was seen with Oswald various times, proving that Ruby and Oswald were acquaintances, and that Ruby may have had another motive for killing Oswald. Ruby owned The Carousel, which is where Oswald was seen a few days before the assassination. Bill Demar, one of the MCs at The Carousel, identified Oswald as a regular patron at the place. Other workers at The Carousel supported this argument including Harvey Wade, Wally Weston, Janet Conforto and Beverly Oliver. Oliver confirmed that she had once seen Conforto, Ruby and Oswald sitting together. She was then introduced to Oswald by Ruby as his ‘friend’. Oswald also had many connections to the Mafia, especially crime boss, Carlos Marcello. During the time Oswald lived in New Orleans, he lived with the Dutz Murret family, Dutz Murret

Political Polarization Is Defined As The Division Into Two...

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Entrepreneurial Business Plan Learning Disability Service Free Essays

Introduction There are those who seek out opportunities from the very situations where others fear chaos or are lost in confusion. These individuals often act as catalysts to bring about a change that reshapes a market place. They are thought of as Olympic athletes who constantly challenge themselves to surpass barriers, or long distance runners who are undeterred in bearing the agony of running miles, or symphony orchestra conductors who are experts in balancing the skills and sounds of people and instruments respectively in a cohesive unit, or top-gun pilots who endlessly challenge the limits of speeds and daring. We will write a custom essay sample on Entrepreneurial Business Plan: Learning Disability Service or any similar topic only for you Order Now From a psychological perspective, these individuals are driven by their quest to achieve or obtain something. They experiment and take risks to accomplish something and often resent authorities of others over them. To economists, these individuals gather resources, people, materials, information and other assets to create a value greater than before. The academia has come to recognize them as ‘entrepreneurs’ and their entrepreneurial activities as ‘entrepreneurship’. Entrepreneurs are important segment of any economy as they often spearhead innovations; many of which turn out to be seedlings of future large corporations. Keeping the importance of entrepreneurship in view, this essay focuses on deliberating an entrepreneurial proposal, with an aim to realize the rigors of formulating a business plan from an idea that creates value in general. Entrepreneurship According to Hisrich (2001) â€Å"Entrepreneurship is the process of creating something new with value by devoting the necessary time and effort, assuming the accompanying financial, psychic and social risks, and receiving the resulting rewards of monetary, personal satisfaction and independence.† Nafziger (1997 and 2006) states that entrepreneurship is comprised of basic features; coordination of production factors such as land, labor, and capital, decision making under uncertain conditions innovation and creative solutions to problems and fulfillment of a market gap with an input completer. The entrepreneurial business plan proposed in this essay will try to adhere to these definitions and incorporate the aforementioned features. Business Plan The business plan is to create an online service for people with learning disabilities. This plan is both entrepreneurial and socially driven and therefore it can be termed as social entrepreneurship. The distinction between business entrepreneurs and social entrepreneurs is that the latter are driven by a social mission while the former is more focused towards wealth generation (Dees and Emerson, 2001). The online service titled as â€Å"LDS†, will allow users to find out what’s going on in their communities, and provide information for the nearest and cheapest available social care support options for them to seek. LDS service would be designed like the â€Å"ebay of social care for people with learning disabilities,† It will assist care providers in knowing what services support and funds they are entitled to. Moreover, it will help care providers in planning their budget for a personalized social care support. It will also allow socialization among users in terms of forming communities, organizing events and activities and share information; all with an overall social care agenda. Business Model The prevailing business environment is manifested by rapid innovation and diffusion of new internet based information technologies (Bruin and Dupuis, 2003). These technologies create many new windows of entrepreneurial opportunities. The pervasiveness of the internet, which is a â€Å"communication medium that allows, for the first time, the communication of many to many, in a chosen time on a global scale†(Castells, 2001, p.2 in Bruin and Dupuis, 2003), presents new ways of working and entrepreneurial opportunities. The LDS is another such entrepreneurial endeavor made possible by the internet based information and communication technologies. It is a complete e-business initiative. As a social and commercial enterprise, LDS will operate as a commercial entity. It will generate its revenue from the advertisement fees charged to the service providers, individual carers, and product stores who are likely to post their products and services over LDS. It will also generate revenue from a small one time registration fee charged to the users. LDS will operate partly on a wiki principle. A wiki is a website which is partly user generated i.e. its users are allowed to create and manipulate its content via web browser. Wikis are usually run by wiki software and are typically operated collaboratively by several users. Through its wiki principle, the LDS website will allow users to provide their input; making this service a knowledge sharing portal dedicated towards caring people with learning disabilities. Moreover, it will serve as a portal for users to organize communities of users and clients. In order to monitor the activities of users to maintain focus and direction of the website, level of access will be enforced upon users. The LDS will be created as an eMarketplace which would help people take charge of their own support. LDS will provide products and services for the social care sector through four interrelated modules. These modules are designed keeping the needs of the different users in mind. They are; Individuals Service Providers Budget Managers and Community Macro Anslysis More than 1.5 million people in the United Kingdom have a learning disability making it one of the most common forms of disability in the UK. Learning disabilities the most overlooked and least understood disabilities. Thus there is a dire need to spread awareness regarding learning disabilities and its support (LDC, 2012). In 2004, the government of UK established the commission for social care inspection (CSCI) which has been publishing reports on the state of social care England annually since 2005. According to the data of 2006-07, the councils in UK had spent ?14.24 billion on social services. This is the gross amount spent on social services. As much as 60% of this amount was used in financing services for older people whereas people with learning disabilities received the second largest share which is 22% of total spending amounting to ?3.12billion (LDC, 2012). The coalition government in UK government brought a major policy shift by reducing social spending in national budgets. The Emergency Budget in June 2010 enforced a reduction worth ?6.2 billion, including cuts in money given to Local Governments by ?1.165 billion. The Emergency Budget also initiated other big changes to the welfare system and Disability Living Allowance. For instance, it was followed by the Comprehensive Spending Review and the settlement for local councils. The Comprehensive Spending Review recognized the persistent underfunding of social care, which resulted in an influx of extra ?2 billion per year for social care services by promised by the government. However, this amount is not enough to cater the increase in the numbers of people requiring support (LDC, 2012). In response to the aforementioned changes, Learning Disability Coalition, an independent organization, got engaged in supporting people with different learning disabilities. It carried out a survey of local authorities to assess the effects of changes introduced through the ‘Emergency Budget’ and ‘Comprehensive Spending Review’. A similar survey of over 350 disabled people, their families and care providers was carried out to ask them how the policy changes had affected them. It concluded that 90% of local authorities had less funding than before and 84% termed their funding conditions as â€Å"difficult†. Out of these, 20% were planning to cut services. As for the individuals with learning disabilities, 20% complained about a reduction in hours of care provided while 19% were faced with reduction support fund. About one third of the disabled people and their care providers had been contacted by their respective councils regarding a change to eligibil ity criteria (LDC, 2012). Considering the issues discussed above, it is viewed that LDS will provide an innovative solution to all these stakeholders in utilizing their resources more effectively; thus creating a value for the society and an opportunity for the business person. Stakeholders The LDS is an open marketplace that can be accessed and used by anyone. It can be: Individuals, They comprise of people having learning physical or other mental disabilities, as well as older people. Local Authorities, They can range from urban metropolitan authorities to County Councils, all having different structures and strategies, and being at different stages in their move towards personalisation. Service providers, They can include national providers, smaller regional providers and local micro-providers. Broker Organizations, and Voluntary Sector Organisations. It is vital to understand that these stakeholders vary in their interests and requirements; therefore an all-around approach will be adopted in order to successfully position LDS, which would help in engaging with each of these target audiences. LDS will engage Local Authorities on a regional basis through the ‘Joint Improvement Partnerships’ (JIPs) as well as ‘Regional Improvement and Efficiency Partnerships’ (RIEPs). Direct engagement will also be targeted. LDS will engage service providers mainly through Local Authorities, which will be effective in utilizing their existing networks and relationships. Proactive service providers would be sought directly. Market Position LDS will serve as a platform for numerous service and products related to social care. They could be offered by any stores and service providers – all gathered in one marketplace. The attraction of LDS to its customers is that it will meet the requirements of each individual customer group i.e. individuals, local authorities, service providers and broker organizations through its multi-facet software system, whilst providing them with a common platform to collaborate in providing/seeking social services. The LDS will be positioned within the social care industry to provide some of the following services leading to various benefits to its stakeholders: ServicesBenifits IndividualsAccess to a best value, high quality marketplace; Ordering and payment process for services; Tool to manage personalized budget. Tool to enable employment of personal assistants.Easy setup and planning of budgets; Reduced administration costs; Access to best value catalogues; Easy reporting to funding bodies. Local AuthoritiesLow cost marketing channel for service providers; Ability to setup an online retail store catalogue; Automated purchase to pay process;Low cost sales marketing channel; Easy management of online store; Automated billing process; Budget ManagersTool for brokers and/or LAs to setup and manage personal budgets; Tool for LAs to review and audit support plans and outcomes Management of budgets and support plans for many clients; Administration of clients orders and invoices; Reporting on funding, spend and outcomes. Easy integration reporting with existing systems.Macro / micro manage details of multiple clients; Reduced personal budget administration costs for individual and LA; Automated financial processes; Report on funding, spend outcomes. Fewer administrative review visits required. More time available for value added activities. CommunityUser friendly information tool for individuals; Content rich marketing channel for providers (beyond being a list); Easy administration of catalogue for LA; Reporting on utilisation and trends. Efficient effective way to find services events which form part of support plan; Free marketing for providers Low cost admin and maintenance for LA; Useful information for LA as a market manager. Marketing Mix In order to promote LDS and widen its clientele, collaborative relationships will be established with Social Care service providers. Some of the organizations that LDS will be looking forward to collaborate with include; Association for Real Change (ARC) BILD (British Institute of Learning Disabilities) Downs Syndrome Association Foundation for People with Learning Disabilities Mencap National Autistic Society National Family Carer Network People First Real Life Options Sense The Hesley Group The National Forum for People with Learning Difficulties Turning Point United Response Voyage Furthermore, LDS will create a promotional calendar to engage with individual and general population. LDS will also carry out promotion activities at relevant national and regional events. Moreover, LDS will make various other marketing materials which would be made readily available to reinforce the brand. These materials will include: electronic newsletters, standardized fliers, presentations, mugs, and key-rings etc. LDS will also try to get media coverage and contribute in several national publications. Monitoring and Evaluation YearObjectives Year 1Launch initial pilot program for users Continued marketing By the third quarter of the first year, launch a complete version of the program Bring along atleat 100 different service providers Engagement with at least 5 Local Authorities Launch a whole scale application that could be run on a Partner’s website Year 2Engagement with at least 10 Local Authorities Achieve target for ?50m spend by service users over LDS by the end of second year Year 3Engagement with at least 15 Local Authorities Achieve target for ?200m spend by service users over LDS by the end of second year Expansion to overseas market References Bruin, A. and Dupuis, A (2003). Entrepreneurship: New Perspectives in a Global Age. Ashgate Publishing, Ltd. Dees, J. G., Emerson, J. Economy, P. (2001) Enterprising Non-profits: A Toolkit for Social Entrepreneurs. New York: Wiley Sons, Inc. Hisrich, R.D (2011) Entrepreneurship. Tata McGraw-Hill Education LDC, (2012) Learning Disability Coalition. {online} www.learningdisabilitycoalition.org.uk Nafziger, E. Wayne (1997), The Economics of Developing Countries, Third Edition, Prentice-Hall, New Jersey Nafziger, E. Wayne (2006), Economic Development, 4th edition, Cambridge University Press, Cambridge How to cite Entrepreneurial Business Plan: Learning Disability Service, Essay examples

Policy and structure of Westpac Banking-Free-Samples for Students

Questions: 1.Write a Literature review of west pac Corporate Social responsibility? 2.Write a Literature review of westpac Organisational Structure.? 3.Write a Literature review of westpac Organisation Technology? Answers: 1.Literature review of Westpac Corporate Social Responsibility The topic sentence regarding this literature review is to find out the social responsibilities performed by Westpac Banking. Corporate social responsibility is an essential part in corporate fabric. It helps to obtain the goodwill of the stakeholders and the market value of the corporation is depending on a good policy regarding CSR (Tai Chuang, 2014). The global banks are concentrating on these policies to gain reputation on worldwide basis and these policies are helpful to strengthen the relationship with the stakeholders. Westpac banking is popularly known regarding their CSR policies and they have made a firm commitment regarding the policies (Suliman, Al-Khatib Thomas, 2016). First statement of Corporate Social Responsibility: The term CSR denotes certain societal obligations. The policies regarding CSR are a matter of controversy. According to Craig Smith (2016), a company should only be responsible to its shareholders and not to anyone else (Smith Rnnegard, 2016). Therefore, policies should be implemented for the interest of the stakeholders. On the other hand, Kotler and Lee (2005) accept the societal role of the company and support the CSR policy of a company. Carroll generated the notion on CSR model in the year 1991 and it has been stated by him that the company should be focussed on the ethical and philanthropic responsibilities along with the economic obligations (Lin et al., 2017). Positive customer influences of CSR policies: Maignan and Ferrell (2004) has pointed out certain positive impacts of the CSR policies on the customers and stated that the policies help to build a loyal relationship with the customers. In banking sector, loyalty and trust are important and in the words of Barone (2000), the environment friendly policies of bank will help to gain support from the customers (Homburg, Stierl Bornemann, 2013). According to Murray and Vogel, an effective CSR policy reflects the companys attitude and honesty. Westpac has taken certain measures regarding the sustainable enhancement and focussed on the value of the shareholders. The customer policy of CSR is based on fair dealing and social legitimacy. Fred Chaney (2002) has mentioned that economic development can be possible by implementing the social responsibility. Westpac has initiated certain steps regarding the improvement of the rural towns and able to gain the trust of the customers (Dell'Atti et al., 2017). Second statement of Corporate Social Responsibility: Luo (2006) has been pointed out that the CSR policies create a link between the CSR policies and customer satisfaction. An effective CSR policy helps the bank to increase its market value and the customer satisfaction is depending on the rate of market value. Westpac is one of the ancient banks in the history of Australia and it has been observed that the bank has taken many initiatives to increase their market value and it becomes a globally recognised bank now (Klettner, Clarke Boersma, 2014). The bank has able to gain the customer satisfaction with the help of their simple commitment and customer oriented policies (Moreno et al., 2014). The efforts made by the bank in the rural areas have attracted the concentration of the customers. However, Pomering (2006) had raised his voice for the customer centric policies in lieu of customer satisfaction policies. Student analysis: It has been clear from the record of the company that this leading banking authority of Australia has taken certain social policies with the intention to eradicate the malnutrition and implemented certain health care policies for the minority group of the society. The policies of the bank ensure environmental sustainability and adopted policies for the protection of the ecological substances. It works for the socio-economic development of the backward classes and war widows. 2.Literature review on Westpacs Organizational Structure: The topic sentence of the literature review is to identify the organisational anatomy of Westpac bank. An organisational structure is an anatomy of an organisation and denotes a foundation regarding the functional area of the organisation. According Hall, organisational structure is affecting the behaviour of the members. James and Jones had conceptualised the organisational structure and behaviour of the individual and tried to make a relationship in between them. An effective organisational structure has focussed on the supportive attitude of corporation to the customers (Boersma, 2015). First statement of evidence: The structural segment of Westpac has been designed to focus on the customer satisfaction. Certain strategies have been adopted to earn the support of the customers and ease the corporate function. There are number of sections structured under the Westpac bank and each of these sections has separate corporate functions and liabilities to the customers. The retail and business banking of Westpac is responsible for the marketing and sales and services are provided to the commercial customers. The system regarding the third party retail is also being governed by this section (Huang, Pepper Bowrey, 2014). The BT Financial group regulates the wealth management section of the bank. The main objective of this branch is to provide maximum protection to the wealth of the customers. The institutional banking service of Westpac is dealing with the corporate or government-based customers. The specialists of this section are expertise in market banking and provide online broking service to the c ustomers. Second statement of evidence: According to Armstrong and Stephen (2008), the purpose of the organisation is to do a thing in a proper way. The structure of an organisation is composed of such persons by whom such purpose can be achieved. The people are required to work cooperatively within an organisation. The organisational structure of Westpac has been designed on this framework and they are concentrating on the human elements required for the development of the bank (Lfsten Lfsten, 2016). The nature of the organisational structure of Westpac is unitary. In this system, all the employees are working under the umbrella of common purpose and separate units do the works. However, the above-mentioned structure describes the posts of specialised officers who are responsible for the performance of the bank. There is a change happened regarding the post-holders and new peoples have appointed in the posts. Student analysis: It can state that the future of a company depends on the organisational structure and it is important to divide the work for the easy flow of work. A neat organisational framework can be helpful in this case. 3.Literature review of Westpacs organizational technologies: The topic sentence of this literature review is to identify the importance of the technologies in the banking sectors and role of the same in the Westpac banking. Technologies play an important role in banking sector as the major part of modern banking is based on online. The ramification of information technology is considered as critical business resource. In the words of Castells (2001), the banking industry has developed drastically with the help of technologies. There are certain examples such as the online money transaction; mobile banking and electronics banking have classified the significant role of the technologies in banking sector (Abbas et al., 2014). Except these online transactions, the database regarding the banking service and the cash reserve portfolio are maintained through computer. Worldwide network system is necessary for the overall development of the bank and identifies the global nature of the bank. Technologies help to ease the demanding expectation of the c ustomers. Importance of technology in banking: According to Saeid Khajeh, the technologies are playing important role and it increases the rate of competition within the banking sector. It helps to make the financial products more transparent and deconstruction of marketing environment become easier by the help of technologies (Tai Chuang, 2014). According to Adesina and Ayo (2010), the mentality of banking authority has been changed and economy of scale has been processed in the bank to protect the business structure. First statement of evidence: The vision of the company is based on the advanced technology and many fellow researchers on the information technologies are appointed to regulate the works of the bank. The motto of the bank is to manage the customers demand systematically and implement the policies to secure the financial sectors of Westpac. Westpac is a leading banking authority of Australia as well as in New Zealand. The bank has been gaining the trust of the people since its incorporation. Millions of people holding their account in the bank and therefore, there is a need of proper servicing criteria for the bank (Homburg, Stierl Bornemann, 2013). The Westpac group is concentrating on the three bases to deal with the situation such as innovation, drive and talent. The technical department of the bank is not only deals with the emerging demand of the customers, but also monitoring the potential threat regarding the cyber security. Second statement of evidence: The technicians play an important role in the Westpac and with a view to manage the situation systematically, certain layers can be found regarding their working criteria. The first step is based on skills and experience on particular project. The second step is dealing with planning and implementation of certain policies. The next step deals with the analysis of business process. The last step deals with the communication and programming of the process. Skilled workers are always on demand in the bank and by their extensive efforts; the bank has been recognised internationally (Klettner, Clarke Boersma, 2014). In the words of Brian Hartzer, MD CEO of Westpac, the technicians are playing an important role regarding the proper management of the banking sector to ensure the financial securities to the customers. Student analysis: It can be argued that major parts of modern banking is depended on the technology and in case of global companies like Westpac, it is obvious. All the transactions of the bank is depending on online base and the database of the company is stored or captured in computerised way. Therefore, it can be stated that the organisational technology helps the bank to retain its position in the international banking sector. References: Abbas, J., Muzaffar, A., Mahmood, H. K., Ramzan, M. A., Rizvi, S. S. U. H. (2014). Impact of technology on performance of employees (a case study on Allied Bank Ltd, Pakistan).World Applied Sciences Journal,29(2), 271-276. Boersma, M. (2015). How Does Sustainable Banking Add Up?. Dell'Atti, S., Trotta, A., Iannuzzi, A. P., Demaria, F. (2017). Corporate Social Responsibility Engagement as a Determinant of Bank Reputation: An Empirical Analysis.Corporate Social Responsibility and Environmental Management. Homburg, C., Stierl, M., Bornemann, T. (2013). Corporate social responsibility in business-to-business markets: how organizational customers account for supplier corporate social responsibility engagement.Journal of Marketing,77(6), 54-72. Huang, T., Pepper, M., Bowrey, G. (2014). Implementing a sustainability balanced scorecard to contribute to the process of organisational legitimacy assessment.Australasian Accounting Business Finance Journal,8(2), 15. Klettner, A., Clarke, T., Boersma, M. (2014). The governance of corporate sustainability: Empirical insights into the development, leadership and implementation of responsible business strategy.Journal of Business Ethics,122(1), 145-165. Lin, W. L., Ho, J. A., Ng, S. I., Lee, C. (2017). Impact of Positive and Negative Corporate Social Responsibility on Corporate Financial Performance and Idiosyncratic Risk. Lfsten, H., Lfsten, H. (2016). Organisational capabilities and the long-term survival of new technology-based firms.European Business Review,28(3), 312-332. Moreno, D. P., Hernandez, A. A., Yang, M. C., Otto, K. N., Hltt-Otto, K., Linsey, J. S., ... Linden, A. (2014). Fundamental studies in Design-by-Analogy: A focus on domain-knowledge experts and applications to transactional design problems.Design Studies,35(3), 232-272. Smith, N. C., Rnnegard, D. (2016). Shareholder primacy, corporate social responsibility, and the role of business schools.Journal of Business Ethics,134(3), 463-478. Suliman, A. M., Al-Khatib, H. T., Thomas, S. E. (2016). Corporate Social Responsibility.Corporate Social Performance: Reflecting on the Past and Investing in the Future, 15. Tai, F. M., Chuang, S. H. (2014). Corporate social responsibility.Ibusiness,6(03), 117.

American History the Patriots Movement in the 1760

Understanding Si Clauses in French

Understanding 'Si' Clauses in French Si clauses or conditionals produce conditional sentences, with one clause stating a condition or possibility and a second clause naming a result produced by that condition. In English, such sentences are called if/then constructions. The French si, of course, means if in English. There is no equivalent for then per se in French conditional sentences. There are different types of si clauses, but they all have two things in common: The English result clause might be preceded by then, but there is no equivalent word preceding the French result clause. Si tu conduis, je paierai. If you drive, (then) Ill pay. The clauses can be in one of two orders: Either the  si clause is followed by the result clause, or the result clause is followed by the  si clause. Both work as long as the verb forms are paired correctly and si  is placed in front of the condition. Je paierai si tu conduis. Ill pay if you drive. Types of Si  Clauses Si  clauses are divided into types based on the likeliness of what is stated in the result clause: what does, will, would, or would have happened if....The first verb form listed for each type names the condition upon which the result depends; the result is indicated by the second verb form. First conditional: Likely / Potentiel   Present or present perfect present, future  or imperativeSecond conditional: Unlikely / Irrà ©el du prà ©sent Imperfect conditionalThird conditional: Impossible / Irrà ©el du passà © Pluperfect conditional perfect  Ã‚   These verb pairings are very specific: for example, in the second conditional, you can only use the imperfect in the si clause and the conditional in the result clause. Memorizing these pairings is probably the most difficult part of si clauses. Its important to memorize  the rules concerning the sequence of tenses. The term conditional here refers to the condition being named; it does not mean that the conditional mood is necessarily used in the conditional sentence. As shown above, the conditional mood is not used in the first conditional, and even in the second and third conditional, the conditional mood does not name the condition, but rather the result. First Conditional The first conditional refers to an if-then clause that names a likely situation and the result dependent upon it: something that happens or will happen if something else happens. The term conditional here refers to the condition being named; it does not mean that the  conditional mood  is necessarily used in the conditional sentence.  The conditional mood is not used in the first conditional. The first conditional is formed with the  present tense  or  present perfect  in the  si  clause, and one of three verb forms- present,  future, or  imperative- in the result clause.   Present Present This construction is used for things that happen regularly. The  si  in these sentences could probably be replaced by  quand  (when) with little or no difference in meaning. Sil pleut, nous ne sortons pas. / Nous ne sortons pas sil pleut. If it rains, we dont go out. / We dont go out if it rains.Si je ne veux pas lire, je regarde la tà ©là ©. / Je regarde la tà ©là © si je ne veux pas lire. If I dont want to read, I watch TV. / I watch TV if I dont want to read. Present Future The present future construction is used for events that are likely to occur. The present tense follows  si; it is the situation that is required before the other action will take place. Si jai  le temps, je le ferai. / Je le ferai si jai le temps. If I have time, I will do it. / I will do it if I have time.Si tu à ©tudies, tu rà ©ussiras lexamen. / Tu rà ©ussiras lexamen si tu à ©tudies. If you study, you will pass the test. / Youll pass the test if you study. Present Imperative This construction is used to give an order, assuming that the condition is met. The present tense follows  si; it is the situation that is required before the other action becomes a command. Si tu peux, viens me voir. / Viens me voir si tu peux. If you can, come see me. / Come see me if you can. (If you cant, then dont worry about it.)Si  vous  avez  de  largent,  payez  la facture. / Payez la facture si  vous  avez  de  largent. If you have money, pay the bill. / Pay the bill if you have money. (If you dont have any money, someone else will take care of it.) Passà © composà © Present, Future, or Imperative Si  clauses may also use the  passà © composà ©Ã‚  followed by the present, future, or imperative. These constructions are basically the same as above; the difference is that the condition is in the present perfect rather than the simple present. Si tu as fini, tu peux partir. / Tu peux partir si tu as fini. If you have finished, you can leave.Si tu nas pas fini, tu me le diras. / Tu me le diras si tu nas pas fini. If you havent finished, [you will] tell me.Si tu nas pas fini, dis-le-moi. / Dis-le-moi si tu nas pas fini. If you havent finished, tell me. Second Conditional   The second conditional* expresses something that is contrary to present fact or unlikely to occur: something that would  happen,  if something else happened. The term conditional here refers to the condition being named, not the  conditional mood. In the second conditional, the conditional mood is not used to name the condition itself, but rather the result. For the second conditional, use  si  Ã‚  imperfect  (stating the condition)   conditional  (stating what would happen). Si javais le temps, je le ferais. / Je le ferais si javais le temps. If I had time, I would do it. / I would do it if I had time. (Fact: I dont have time, but if I did [contrary to  fact], I would do it.)Si tu à ©tudiais,  tu  rà ©ussirais   lexamen. / Tu rà ©ussirais   lexamen  si  tu  Ãƒ ©tudiais. If you studied, you would pass the test. / You would pass the test if you studied. (Fact: You dont study, but if you did [unlikely to occur], you would pass the test.) Si  elle  vous  voyait,  elle  vous  aiderait./ Elle  vous  aiderait  si  elle  vous  voyait. If she saw you, she would help you. / She would help you if she saw you. (Fact: She doesnt see you so she isnt helping you [but if you get her attention, she will].) Third Conditional The third conditional* is a conditional sentence that expresses a hypothetical situation that is contrary to past fact: something that would have happened if something else had happened. The term conditional here refers to the condition being named, not the  conditional mood. In the third conditional, the conditional mood is not used to name the condition itself, but rather the result. To form the third conditional, use  si  Ã‚  pluperfect  (to explain what would have had to occur)   conditional perfect  (what would have been possible). Si javais eu le temps, je laurais fait. / Je laurais fait si javais eu le temps. If I had had time, I would have done it. / I would have done it if I had had time. (Fact: I didnt have time, so I didnt do it.)Si tu  avais  Ãƒ ©tudià ©,  tu  aurais  rà ©ussi   lexamen. / Tu  aurais  rà ©ussi   lexamen  si  tu  avais  Ãƒ ©tudià ©. If you had studied, you would have passed the test. / You would have passed the test if you had studied. (Fact: You didnt study, so you didnt pass the test.)Si  elle  vous  avait  vu,  elle  vous  aurait  aidà ©. / Elle  vous  aurait  aidà © si  elle  vous  avait  vu. If she had seen you, she would have helped you. / She would have helped you if she had seen you. (Fact: She didnt see you, so she didnt help you.) Literary Third Conditional In  literary  or other very formal French, both verbs in the pluperfect conditional perfect construction are replaced by the  second form of the conditional perfect. Si jeusse eu le temps, je leusse fait. / Je leusse fait si jeusse eu le temps. If I had had time, I would have done it.Si vous eussiez à ©tudià ©, vous eussiez rà ©ussi lexamen. / Vous eussiez rà ©ussi lexamen si vous eussiez à ©tudià ©. If you had studied, you would have passed the test.

Construction Industry Research Paper Example | Topics and Well Written Essays - 1750 words

Construction Industry - Research Paper Example It provides employment to most of the people as its growth is often projected to increase by more than a million between the year 2002 and 2012 (Fenn 22). This improves the economy of the country as most of the people are trained in the construction industry reducing the unemployment rate in the economy of the United States. The Construction Industry is the core of all the construction locally and also internationally. Most of the structures being designed are always done by the construction company. Its effect is felt as most of the facilities are able to be constructed leading to an economy grow. An economy of a country is determined by the standing Infrastructure which is modernized. It also shows the people’s creativity and intellectual ability as it requires not the only the mind but also the skills in making it work.It is used as a tool by the government in managing the level of the economy. When there is a recession and the rate of unemployment is seen to be high the go vernment increases the public expenditure by the use of the construction industry (Fenn 29). This completely shows its contribution to the American economy as most of the people are believed to be in this sector. The construction industry related with other economic sectors using the backward-forward linkage the forward showing its relationship of total output to inter-industry sales while the backward linkages. This is used in showing the relationship between total output and the industry purchase.... It is used as a tool by the government in managing the level of the economy. When there is recession and the rate of unemployment is seen to be high the government increases the public expenditure by the use of the construction industry (Fenn 29). This completely shows its contribution in the American economy as most of the people are believed to be in this sector. The construction industry related with other economic sectors using the backward forward linkage the forward showing its relationship of total output to inter-industry sales while the backward linkages. This is used in showing the relationship between total output and the industry purchase. Gross fixed capital is the expenditure on fixed assets including buildings and machinery among others in either replacing or adding stock of the fixed assets. This is related to investment as fixed assets are used in the production process. It is important public policy tool as it is used in creating employment and also increases the de velopment in the U.S. This is through the central bank through which people invest in infrastructure leading to money injection in the economy. This industry contributes to a third of total investment in fixed assets in the economy. It has also led to the construction of new and better buildings like the hospital facilities, educational centre like schools. There has also been the construction of better recreational centers which are able to increase the number of people that can be accommodated in the building and also a concrete structure which can last for a longer period of time. Domestic Data in the Construction Industry Number Employed The number of personnel employed in this industry is rapid as it has a high employment

12 Years A Slave Movie Review Example | Topics and Well Written Essays - 500 words

12 Years A Slave - Movie Review Example Ruthless slave masters such as Edwin Epps go as far as reading scriptures to the slaves. He quotes the book of Luke as he warns the disobedient servants â€Å"shall be beaten with many stripes.† Further, as a bad harvest looms, he blames the slaves as he attributes it to an Old Testament plague. With this reason, he sends away the slaves for a season until such a time that his crops will find favour in God’s eyes. In the course of slavery, Northup and fellow slaves console themselves in slavery. In moments of despair and pain, they sing spiritual hymns with profound sense of acceptance and surrender. Essentially, the Christian teachings do not support the ways and modes of slavery. According to Walter (4), it proved to be problematic as he tried to compare influence of religion on the attributes of slavery. His research compared the northern and southern states of antebellum in America.in his book ‘The church and slavery† Albert Barnes claims the general cou rse of the churches has been against slavery and that slave holders were a minority among the Christians. The churches would eventually detach themselves from slavery leading to its abolition. Cruelty in the film is given a grim picture in the event that Northup is made to mete out punishment to Epps’ prized slave girl. He is made to whip Patsey and portrayed as an inverted Christ figure. When confronted on his actions, Epps says there is no sin and justifies that a man can do what he wishes with his slaves.

Impact of the Olympic Games on Tourism

Impact of the Olympic Games on Tourism The potential contribution of the 2012 Olympic Games to tourism Abstract With budgets for the hosting of the Olympic Games often requiring significant upward revision before final costs are calculated there has been an increasing level of concern about the areas of benefits that these events bring to the host cities and nations. Much of this concern is focused upon the tourism benefits. Using three previous Olympic events together with the staging of the Commonwealth Games in Manchester as case studies, this research seeks to ascertain whether the predicted tourism benefit from hosting the 2012 Olympic Games can realistically be achieved or if they are simply estimates raised in an effort to justify the huge capital investment required to stage the games. The results of the case study into the three Olympic events show mixed results in terms of reality matching expectations. In particular, the area of concern in all of these events has been the failure of the cities to see a continuation of improvement to employment. However, the Manchester case study produced a positive result on all counts of tourism benefits, including employment. What makes this event different from the others is that the organisers in this case concentrated a considerable amount of effort on developing a sustainable legacy programme. The committee responsible for this programme have treated it as a separate project and this has enabled the focus of achieving benefits to be maintained. It is considered that if the LOCOG incorporates the positive aspects of this research into their Olympic planning it will be able to achieve the estimated expectations. 1.  Introduction In March 2005, four months before bid for the 2012 Olympic Games was won by London, the UK government extended the budget for this event from  £2.4 billion to  £9.35 billion, a nearly fourfold increase (BBC News 2005). In justifying this enormous increase in costs and echoing the comments of other Olympic cities in the past, the UK government and 2012 Olympic organisers have said there will be ongoing economic benefits resulting from the event being held in London. It has been suggested that many of these benefits will accrue to the tourism and hospitality sector. In support of this comment the organisers, LOCOG[1] (2007) and ODA[2], point to the fact that it is increasing hotel accommodation in the London area and, in addition, providing a number of new sporting and cultural facilities that will be available for use in the future, attracting continual leisure and tourism activities. Furthermore, it is stated the increase in tourists during the event will have the effect of increasing subsequent tourist visits to London and the UK as a whole as well as their impact during the event itself. These moves are also expected to have a positive long term impact upon tourism businesses and employment in the area. However, reports into the results of tourism benefits achieved from previous events of this nature show a different view (Madden 2002) and suggest that the claims being made by the LOCOG and other stakeholders might be optimistic. It is the resolution of this dichotomy of opinions that forms the focus for this paper. The aim of this research is to assess whether the pre-event claims being made by the 2012 Olympic organisers, which are supported by research conducted by independent researchers (Blake 2005 and Oxford Economics 2007) will bring tourism benefits to London and the UK. These will be measured against three factors, these being tourism numbers and financial benefit, hotel occupancy, and tourism and hospitality employment levels. 1.1. Aims and objectives In order to address the issues focused upon within this study, the following research question being resolved is: Whether the hosting of the 2012 Olympic Games in London will provide the City and the UK tourism industry with potential benefits both during and post the event. To provide a framework and direction aimed at addressing this question, two main objectives have also been set. London 2012 Olympic Games legacy There will be a detailed and critical analysis of the intended legacy of the Games which will also examine the supporting evidence. Previous event results For comparison purposes post event reports on three significant previous events of a similar nature will be presented and evaluated. 1.2. Overview Following this introduction, section two provides an overview of the data collection method used. In section three the findings will be presented and discussed before the study is brought to a conclusion in section four, where appropriate recommendations will be made. 2.  Methodology Due to the limitations in terms of time, cost and geographical location, it has been decided that the appropriate research method to be used for this research will rely upon the collection of data from secondary sources. These will include information collected from the official 2012 Olympic websites of the LOCOG (2007) and other related stakeholders as well as independent research conducted by academics and other tourism stakeholders. Other resources have also been used, including publications available from bookshops and libraries and journal articles. Similar resource locations have been relied upon for the collection of data relating to the comparative events. Although it is sometimes perceived that there are limitations to the secondary data collection approach in this case it was considered that the depth of previous and immediate research is sufficiently robust to add value to the findings of this study. For example, sufficient academic and practical research material is available to be able to provide a direct comparison between the intentions of the 2012 Olympic Games legacy expectations and the actual results that have been achieved from previous events, including those held within the UK and in other international locations. 3.  Discussion of research findings In all events apart from the London 2012 the research conducted for this study has included the examination of the legacy claimed to result from hosting special events by the organisers and the findings from subsequent research and reviews conducted by various academic and tourism stakeholders. For ease of reference this section of the research has been divided into relevant segments. The findings of the research are presented within the first three segments and these are followed by a discussion, analysis and evaluation of these findings that will provide a conclusion to the research question. 3.1.  London 2012 Olympic Games legacy In their official legacy for the games, the London 2012 Olympic organisers have highlighted several benefits that they expect to result from hosting the games. In relation to the tourism sector, these can be identified in the following six key areas according to the LOCOG (2007), all of which are considered to have longer term benefits that will accrue to the hospitality and tourism sectors. Accommodation Included within the infrastructure costs of the games is the construction of an additional 15,000 hotel rooms, increasing current accommodation in the London area by around 15%. Employment It is anticipated that the event will require a significant increase in the numbers of persons employed within the tourism sector. This increase is expected to occur across a range of areas including hotels, restaurants and bars and other destination and attraction facilities. Numbers of tourists With 9 million tickets being printed for the games, added to the participating teams, their support staff and the international media attendance, it is expected that in excess of 10 million tourists will be attracted to London during the course of the event. Sporting facilities Of the sporting facilities being built for the games five of these will be made available for tourism, sporting and leisure use post the games themselves. Infrastructure Improvements are being made to transportation links and a regeneration programme for areas of London will be taking place, thus making these places more attractive to tourists. Destinations and attractions The creation of a new Olympic Park, which in addition to recreational facilities will have areas dedicated to the creation of natural wildlife habitats, is designed to add to the attraction of London as a tourist destination. 3.2.  Findings of anticipated tourism benefits of the 2012 Olympic Games Several studies have been commissioned and conducted in an attempt to evaluate and predict the economic benefit that will result from London’s hosting of the Olympic Games. Having considered these studies, it has been decided that those most appropriate to this study are the study conducted by Oxford Economics (2007) and Blake (2005). In both cases the central determinates of expectations have been used. The findings of the Oxford Economics (2007) study were based upon a comparison of the results studied from fifteen previous events of the same nature. The results suggested that the net tourism gain in financial terms during the years from 2007- 2017 will be  £2.09 billion, of which  £1.47 (70.33%) will be directly attributable to London. In analysing this result, the following can be drawn from these figures when compared between the pre-games; event and post event periods (figure 1). Figure 1 Tourism financial benefits Benefit Pre-Games Games Post games London Percentage 17% 35% 48% UK Percentage 15% 31% 54% London Fiscal  £249.9 million  £514.5 million  £ 705.6 million RUK Fiscal  £ 63.6 million  £133.4 million  £ 423.0 million UK fiscal  £313.5 million  £647.9 million  £1128.6 million Data source: Oxford Economics (2007) These results are largely supported by the research conducted by Adam Blake (2005) who, by using a combination of prediction methods, also agrees that although there is a small rise in pre-games spending the major benefits are attributable to the year of the event and the subsequent period. However, in addition to the financial statistics Blake’s research also provides statistical information in respect of the three main issues being studied within this paper. For example, in terms of the increase in tourist numbers because of the event it is anticipated within this research that the following changes in percentage terms would be achieved (figure 2) over and above the anticipated growth in this area. With regard to the increased numbers of full time employment position created, Blake (2005) also anticipates that this will increase because of the games, particularly within the following areas (see figure 3). Figure 3 increase in FTE Sector 2005-2011 Pre-Games 2012 Games 2013-2016 Post games Sports Facilities -302 4,361 708 Hotels 2,554 1,686 2,972 Bars 2,094 952 2,359 Land Transport 292 3,057 -701 Air Transport 661 191 745 Visitor attractions -11 1,062 -40 Therefore, it is concluded by both of the studies examined that the hosting of the 2012 Olympic Games by London will produce positive and lasting tourism benefits for both the city itself and the country as a whole. 3.3  Findings from previous similar events For comparison purposes, four previous events have been used within this research. These include three prior Olympic Games held in Atlanta (1996), Sydney (2000) and Athens (2004) and the Commonwealth Games held in Manchester in 2002. To provide a detailed analysis of the tourism benefits in the case of the four the research has been concentrated upon analysing the statistical returns for the six years prior to the event, the year of the event and the four subsequent years. In terms of timescale this therefore will relate to the 12 year period being used for estimations by the researchers into the tourism benefits of the London Olympic Games event (Blake 2005) and therefore is anticipated to produce a reasonable set of comparatives. Atlanta 1996 The 1996 Olympic Games, hosted by Atlanta, also saw its financial cost rise from a budgeted $1.7 to over $2 billion, which equated to a 30% increase (Humphreys and Plummer 2003), much of which increase (70%) had to be funded from the public purse. Tourism numbers and their spending in Georgia during the year of the Atlanta Olympic Games increased by approximately $1.5 billion, achieving a record $14.7 billion in 1996, which was a considerable increase upon the previous seven years results. However, this revenue fell back in the following three years and only exceeded the 1996 record in 2000 when revenues reached $15.5 billion. Tourism numbers for the state of Georgia also increased during 1996 and 1997 as a direct result of the games. In the subsequent years however, as Engle (1999) research indicated, this did not resolve itself into longer term benefits, due partly to the fact that the city of Atlanta lost a considerable amount of business convention tourism. This has affected hotel occupancy post the games event, which has remained static at 64% throughout the twelve year period. In terms of the tourism benefit for employment, the result in this case was that in the 77,000 additional jobs anticipated were created as estimated by the year of the games. However, a considerable percentage of these were short-term positions and less than half that number remained long-term (Engle 1999). Nevertheless, this does show a positive benefit to the community. Sydney 2000 In real terms the Sydney Olympic Games in 2000 cost twice as much as its predecessor, with even the estimated budget of $4 billion (Madden 2002, p.9) being exceeded when the actual costs were computed. The tourism benefits relating to the numbers of tourists and their spending in this instance can only be identified for Australia as a whole[3]. These show that the numbers of tourists grew from just under 5.8 million in 1994 to 8.672 million in the year 2000, an increase of 47.33% during the period, nearly a quarter of which was achieved in the year of the games being staged. In the four years subsequent to this time there has been a further increase in tourism of 14.24%. All of the increase was achieved in 2004 following three years that showed a total drop of 2.39%. However, in terms of revenue impact, the statistics show that tourism spends has fallen in the twelve year period by around 2%. These results have been reflected in the rate of growth of hotel occupancy, which has seen a similar pattern of growth during the period under review (Arthur Andersen 2000). However, one are of concern relative to potential tourism benefits from the Sydney games is the poor performance of employment. Despite a rapid growth in this area in the years leading up to the games, post the event there has been a sharp reversal of this trend (figure 4), with the New South Wales showing the sharpest fall. Two other issues that have detracted from the tourism benefits of the Sydney 2000 games include the fact that the city has still not managed to make some of the facilities pay for themselves, which has left the authorities with a bill of around $46 million per annum (Owen 2005). Secondly, although during the year of the games tourism spend increased in the areas and for the businesses located close to the facilities, those not within the immediate vicinity suffered a loss in revenues during 2000 (Owen 2005). These costs are seldom accounted for by bid organisers and promoters but they do have an impact of the profitability levels for the tourism and hospitality sectors. These results show that the legacy of the Sydney games has been mixed in terms of the subsequent tourism benefits that it has brought to the city and the country. Athens 2004 The cost of the Athens Olympic Games again doubled against the previous games (Associated Press 2004). However, in this case there was a mitigating circumstances as these were the first games to be held post the 9/11 event, which led to additional security costs totalling $1.5 billion, a factor that is becoming increasingly important at events of this nature ((Baade and Matheson. 2002a, p.5). Athens has seen mixed results in terms of the tourism benefits culminating from the games. In terms of the tourism numbers in the year subsequent to the games this showed a rise of 10%. (Hubbard 2005). However, other subsequent reports reveal that the facilities constructed for the games have not been made full use of in the past four years (Hersh 2008), leaving the country’s tourism sector in a position where it has not capitalised upon the impact of the event. Nevertheless, in terms of the revenue received from tourism in Greece, in the four years from 2000 to 2004, this rose from $17.7 billion to $29.6 billion, an increase of over 67% for the period. This has resulted in an increase in hotel occupancy during the same period. However, like other of the case study cities, there has not been a marked improvement in the levels of employment in the tourism industry experienced since 2000. Therefore, it would appear that some of the tourism benefits from the Athens Olympics have centred solely on the year of the event whilst others have had an extended lifespan. Manchester 2002 The last major international sporting event to be held in the UK was the Commonwealth games in Manchester in 2002. In regards to cost the budget and eventual cost of this event was insignificant when compared with the Olympic Games but, at around  £80 million it is still an investment that is expected to produce a positive return in relation to tourism benefits for the area. The Manchester Commonwealth Games legacy programme anticipated that the games would produce the following benefits for tourism in the area (Ecotec 2007): 300,000 new visitors a year spending  £18 million in the local economy Increase in mid-range hotel accommodation 6,400 new jobs According to recent reports (Ottewell 2006) tourism in Manchester has seen a significant growth in the past eight years, which reflects the benefit that hosting the Commonwealth Games has brought to the area. Visitor numbers have risen from 79 million to 94 million between 2000 and 2005 and tourism spend has seen a growth to a level of  £3.92 billion ( £3.05 billion in 2000). Furthermore, in terms of tourism related employment, this figure has also risen to 59,046 in 2005 (51,704 in 2000), an increase of 7,342. When these figures are compared with the estimates that were produced as part of the original bid calculations it is apparent that in all areas the expectations have been exceeded. This shows that the city has certainly benefitted from the legacy programme that used a considerable element of the capital budget set aside for the games has had the desired effect and produced the required returns (Eurotec 2007). The positive result achieved in this instance is further evidenced by a statement given by one of the games organisers in 2007. â€Å"We estimated that  £22m in business benefits across the northwest derived from the Games at the time,† says Rosin. â€Å"There was  £2.7m added value for every  £1m invested. There has been investment in the financial sectors, in the city centre and in particular in east Manchester. Associated retail development and the creation of employment for local people in this area can be directly attributed to the Commonwealth Games† (Editorial (2007). These results have occurred despite the fact that in other areas of the economy, including the GDP, Manchester has seen less of an improvement (Ecotec 2007). 3.4.  Discussion Perhaps the most important aspect of the findings to note is that, from the time of the Atlanta Olympic Games in 1996, the cost of hosting this four year event has escalated at an ever increasing rate. In fact, as the following graph shows (figure 4) the capital investment has doubled on every occasion, including the latest event in Bejjing in 2008. Despite the fact that in most cases a proportion of the costs can be defrayed as a result of sales of media coverage and sponsorship, valued at in excess of $1 billion per event (CBS 1988), this cost escalation does mean that the expectation in regards to the return achieved on this investment has also risen. In other words the benefits, including those enjoyed by the tourism sector, need to have shown significant improvements. However, if the cost of the London Olympic Games in 2012 does not escalate from its current costs of around  £9 billion, it will not only be the first time the games cost have reduced since 1996 but also its return expectations will be lower. Nevertheless, when the expectations of the LOCOG (2007) and other researchers (Blake 2005) are considered against the actual results that have attached to the three previous Olympic Games events being used as comparisons, it is apparent that there are concerns that the London organisers need to consider. In particular, two issues seem to be a recurring problem during the years following the games. The first of these is the use and capitalisation of the sporting venues. In the cases of both Sydney and Athens these have proved difficult to make economically viable post the event. The second issue is tourism employment. In all three Olympic Games case studies, this area of benefits does not seem to have continued to any great extent post the games. However, the result of the Manchester experience has shown that there can be tourism benefits in all of the major areas that have formed the focus of this study. In this city tourism numbers, tourist spend, hotel occupancy and employment have all seen continued growth both at the time of the Commonwealth Games and during the subsequent three years. One of the major differences between this case and the others is that a considerable amount of the investment raised for the games was directed into a definitive legacy programme, which was treated as a separate project and aimed to be an ongoing process rather than culminating in 2002. 3.5.  Summary and evaluation One of the difficulties of evaluating a research issue of this nature is that it is impossible to perform an exact comparison as each event takes place during a different chronological period. For example, an issue that can be said to significant alter the results would be the economic position of the country and other countries during the timescale being evaluated. Furthermore, the detailed statistics in each case is kept in a differing format which adds to the analytical difficulties. However, by accessing and comparing the information relating to each case study from a range of previous researches it is considered that the information and findings presented have been able to be appropriately verified and can therefore be considered reliable. Therefore, although studies by other researchers (Baade, Robert A. Victor Matheson. (2002) and Gratton and Henry (2001)) have indicated that the Games have not impacted upon following years GDP as a whole, it is considered that this has been due to other economic factors and not relevant to the benefits or otherwise of tourism. 4.  Conclusion and recommendations The research question set at the commencement of this research sought to determine: Whether the hosting of the 2012 Olympic Games in London will provide the City and the UK tourism industry with potential benefits both during and post the event. Despite the limitations of the research conducted for this paper, this being restricted to five sporting events that have occurred within the past twelve years, it is considered that, with certain provisions, the response to this question is that the hosting of the 2012 Olympic games can produce potential tourism benefits for London and UK both during and in the years following the event. Whilst the comment of Baade and Matheson (2002, p.98) that the evidence suggests that the economic impact of the Olympics is transitory, onetime changes rather than a steady-state change, is concurred with to a certain extent, it must be tempered with the fact that in certain areas of tourism benefits have been achieved. The poor results they refer to is more due to lack of planning and management by the organisers rather than any external forces or influences. In this respect therefore, it is important to provide the following recommendations to the organisers of the London Olympic Games that should be considered if they wish to achieve a successful and sustainable outcome for the tourism industry. 4.1.  Recommendations In essence recommendations being made can be determined within two main areas, these being related to the planning and execution stages. Planning An essential element of the planning for Olympic Games events is to take notice of the research that has been conducted For example, in this instance the research conducted into the three games that have been used as case studies within this research have all identified areas where improvements might have been made, both at the planning stage and subsequently. Furthermore, research into the Manchester sporting event has shown the benefit of have an identifiable and robust legacy programme which, to a certain extent, should operate independently of the event itself and continue into following years. This position has provided dividends for the Manchester tourism industry that have surpassed the expectations. Execution Secondly, the execution of the legacy strategy is important. All aspects of the post event period have to be meticulously planned and implemented within the required timescale, which as the Greek tourism minister indicated, includes the immediate six or seven months post the games (Hersh 2008), as this is a critical time to build foundations for future success. 4.2.  Summary If the London organisers learn from the lessons of past events and particularly take on board the successes that have been achieved in Manchester, there is no reason why the games should not produce a series of lasting benefits for the London and UK tourism sectors. References Arthur Andersen (2000) â€Å"The Sydney Olympic Performance Survey: The Sydney Olympic Games on the Australian Hotel Industry,† Mimeograph, November 2000, pp.1-7. Associated Press (2004). Games cost Athens over $8.5 Billion. Available from: http://www.msnbc.msn.com/id/5761646/ (Accessed 23 December 2008) Baade, Robert A. Victor Matheson. (2002). Bidding for the Olympics: Fools Gold? In Transatlantic Sport, edited by Barros, Ibrahim, and Szymanski. Edward Elgar Publishing. New York, US. Baade, Robert A. Victor Matheson. (2002a). Mega-Sporting Events in Dveloping Nations: Playing the Way to Prosperity. Available from: http://www.williams.edu/Economics/wp/mathesonprosperity.pdf (Accessed 23 December 2008) BBC News (2005). London plan at a glance. Available from: http://news.bbc.co.uk/sport1/hi/olympics/london_2012/4025027.stm (Accessed 22 December 2008) Blake, A (2005). The Economic Impact of the London 2012 Olympics. Nottingham University Business School, Nottingham, UK CBS (1998). Television, sponsorship revenue could top $800 million. CBS Sportsline wire reports. Available from: http://cbs.sportsline.com/u/olympics/nagano98/news/feb98/revenue2398.htm (Accessed 24 December 2008) Ecotec (2007) An Evaluation of the Commonwealth Games Legacy Programme. Available from: http://www.manchester.gov.uk/downloads/Evaluation_of_Commonwealth_Games_Legacy_programme.pdf (Accessed 23 December 2008) Engle. S.M (1999). The Olympic Legacy in Atlanta. University of New South Wales Law Journal. Vol. 38 Fizel, John., Gustafson, Elizabeth and Hadley, Lawrence (1999). Sports Economics: Current Research. Praeger Publishers. Westport, US. Fort, Rodney D and Fizel, John (2004). International Sports Economics. Praeger Publishers. Westport, US. Hersh, P (2008). Athens post-Olympic Legacy: Empty spaces, unsightly venues, uncertain tomorrow. Chicargo Tribune, Chicago, US Hubbard, A (2005). Olympic Games: Athens’ legacy bigger than the pounds 7 billion bill. The Independent, London, UK Gratton, Chris and Henry, Ian (2001) Sport in the City: The Role of Sport in Economic and Social Regeneration. Routledge. London, UK Humphreys, Jeffrey L and Plummer, Michael K (2003). The economic impact of hosting the 1996 summer Olympics. Available from: http://www.selig.uga.edu/forecast/olympics/OLYMTEXT.HTM (Accessed 22 December 2008) Humphreys, Jeffrey M. and Michael K. Plummer (1995). The Economic Impact of Hosting the 1996 Summer Olympics. Atlanta Committee for the Olympic Games. Atlanta, US. LOCOG (2007). UK Olympics: Our plans. London 2012. Available from: http://www.london2012.com/plans/index.php (Accessed 28 December 2008) Madden, John R

Impact of Terrorism on Pakistan Economy

The Effects of Terrorism & Tourism on the Economy of Pakistan Pakistan is one of the poorest countries on the planet, ranking 171st in the world on the GDP per capita measure, according to the CIA's World Factbook. Terrorism is a big detriment to Pakistan's development, including its tourism industry. Terror attacks are common in the country, and even Pakistan's former Prime Minister Benazir Bhutto was killed as a result of a suicide attack in 2007. 1. The Effect on Tourism oTourism is underdeveloped in Pakistan.Most of the people who visit the country are people of Pakistani descent who make up the Pakistani diaspora in the U. S. and other countries. Accordingly, the effect of tourism on the economy of Pakistan is negligible. That said, if the security situation improves, Pakistan could become a fairly popular tourist destination thanks to its unique culture and geography (Pakistan boasts a beautiful mountain terrain of the Himalayas, among other attractions). Terrorism Hinders Comm erce oAccording to a presentation of the Lahore School of Economics, terrorism has a negative impact on the national economy of Pakistan.The threat of terrorism not only diverts resources to security spending, driving up costs for businesses, but also creates instability about business prospects in the country. Businesses find it difficult to obtain bank loans and get into long-term contractual obligations. o Insecurity Hampers Investment oInsecurity that results from terrorism hampers the Foreign Direct Investment that goes into Pakistan. Investors fret that terrorism may lead to Islamic extremists taking power, destabilizing social and economic structures in the country.

Blowing the Truth out

Whistle blowing is informing on illegal and unethical practices in the work place is becoming increasingly common as employees speak out about their ethical concerns at work. It can have disastrous consequences for the individual, as well as threatening the survival of the organization that is being complained about. This paper aims to provide a balanced approach to this topic, which has generated much controversy and debate. I would like to first explain what whistle blowing is and detail some the following important moral issues that go along with whistle blowing. I will try to show how this could affect any one by going over a classic case of an Eastern Airlines pilot . As well as considering how an individual can protect him or herself from becoming the victim when trying to blow the whistle. Under what circumstances, if any, is whistle blowing morally justified? Some people have argued that whistle blowing is never justified because employees have absolute obligations of confidentiality and loyalty to the organization for which they work. People who argue this way see no difference between employees who reveal trade secrets by selling information to competitors, and whistle – blowers who disclose activities harmful to others. This position is similar to another held by some business people that the sole obligation of corporate executives is to make a profit for the stockholders. If this were true, corporate executives would have no obligations to the public. However, no matter what one's special obligation, one is never exempt from the general obligations we have to our fellow human beings. One of the most fundamental of these obligations is not to cause harm to others. Corporate executives are no more exempt from this obligation than other people. Corporations in democratic societies are run with the expectations that they will function in ways that are compatible with the public interest. Corporations in democratic societies are also run with the expectations that they will not only obey the law governing their activities, but will not do anything that undermines basic democratic processes, such as bribing public officials. In addition to having the obligation to make money for stockholders, corporate executives have the obligation to see that these obligations are complied within an organization. They also have obligations to the company's employees, for example to maintain a safe working place. It is the failure of corporate executives to fulfill obligations of the types mentioned that create the need for whistle blowing. Just as the special obligations of corporate executives to stockholders cannot override their more fundamental obligations to others, the special obligations of employees to employer cannot override their more fundamental obligations. Such as obligations of confidentiality and loyalty cannot take precedence over the fundamental duty to act in ways that prevent unnecessary harm to others. Agreements to keep something secret have no moral standing unless the secret is itself morally justifiable. For example a no person can have an obligation to keep a secret of a plot to murder someone, because murder is an immoral act. It is for this reason also that employees have a legal obligation to report an employer who has committed or is about to commit a felony. Although there are obvious differences between the situation of employees who work for government agencies and those who work for private firms, if we leave apart the special case in which national security was involved, then the same principles apply to both. The Codes of Ethics of Government Service to which all government employees are expected to conform requires that employees put loyalty to moral principles and the national interest above loyalty to the public parties or the agency for which they work. Neither can one justify participation in an illegal or immoral activity by arguing that one was merely following orders. It has also been argued that whistle blowing is always justified because it is an exercise of the right to free speech. But, the right to free speech is not perfect. An example to shout â€Å"Fire† in a crowded theater because that is likely to cause a panic in which people may be injured. Similarly, one may have a right to speak out on a particular subject, in the sense that there are no contractual agreements which prohibit him/her from doing so, but it may be the case that it would be morally wrong for one to do so because it would harm innocent people, such as one's fellow workers and stockholders who are not responsible for the wrongdoing being disclosed. The fact that one has the right to speak out does not mean that one should do so in every case. But this kind of consideration cannot create an complete prohibition against whistle-blowing because one must weigh the harm to fellow workers and stockholders caused by disclosure against the harm to others caused by allowing the organizational wrong to continue. Further more, the moral principles that you must consider all people's interests equally prohibits giving preference to one's own group. So there most be considered justification for not giving as much weight to the interest of the stockholders investing in corporate firms because they do so with the knowledge that they take on financial risk if management acts illegally or immorally. Same as if the employees of a company know that it is engaged in illegal or immoral activities and do not take action, including whistle blowing, to end the activities, then they must bear some of the guilt for the actions. These in turn cancel the principles that one should refrain from blowing the whistle because speaking out would cause harm to the organization. Unless it can be shown that the harm to the employees and stockholders would be significantly greater than the harm caused by the organizational wrong doing, the obligation to avoid unnecessary harm to the public must come first. This must be true even when there is specific agreements not to speak out. Because ones obligation to the public overrides one's obligation to maintain secrecy. If the arguments which I have just made are valid then the position of whistle blowing is never justified because it involves a violation of loyalty and confidentiality, or that whistle blowing is always right because it is an exercise of the right to free speech and is morally justified. Then the obligation a person has to prevent avoidable harm to others overrides any obligations of confidentiality and loyalty, making it an obligation to blow the whistle on illegal or unethical acts. Now that I have set down some moral ground rules that help determine if your responsible or justified in blowing the whistle on big business, I would like to share with you an example of what happened to a company and a employee of a company that has had the whistle blown on them. In this first case a pilot of eastern whistle comes clean on what he suspects to be serious design problem with the new Lockheed 1011, wide body aircraft. At the time Dan blew the whistle, he was flying regularly scheduled flights for Eastern airlines as well as being involved in flight training and engineering safety, for Eastern airlines. Mr. Gellert was also a graduate of Air Force Safety School, the Army Crash Survival Investigators coarse, and the aerospace Systems Safety, all highly regarded safety courses. The problem, which Mr. Gellert suspected, was of unexplainable crashes in a flight simulator while using the auto pilot system . The L-1011 defect involved the complex interaction between the crew and the autopilot and related instruments, which they relied upon to conduct a safe approach to a runway when landing the aircraft. Mr. Gellert became aware of the problem on a routine flight while using the L-1011. While flying the aircraft with the autopilot engaged and cruising at 10,000 feet with 230 passengers, Gellert dropped his flight plan. As he went to pick it up, his elbow hit the control stick in front of him causing the plane to go in a steep dive something that should not happen. Fortunately, he was able to grab the stick and ease the plane back on course. What had happened was that that while bumping the stick, he had tripped off the autopilot. Instead of holding the plane at 10,000 feet, it had switched from its â€Å"command mode† to â€Å"control steering†. As a result, when the stick moved forward, causing the plane to dive, the autopilot, rather than holding the aircraft on course held it in a dive. There was no warning to the pilot, such as alarms or light and the autopilot's altimeter indicated that the plane was flying at 10,000 feet, a dangerously wrong reading. After this incident Gellert told an Eastern management official what had happened and the official replied â€Å"we'll look into it. But three months later from the time he reported the incident an Eastern airlines flight approaching Miami International Airport crashed. The crew had used the autopilot to land the plane and it had malfunctioned crashing into the everglades. The first step that Mr. Gellert took in blowing the whistle on Eastern airlines and Lockheed was to write a two page evaluation of the auto pilots problems and send them to, Frank Borman, then vice-president of operations; Floyd Hall, chairman of the board , and Samuel Higgenbottom, president of operations. The only response was from Borman that said, it was â€Å"pure folly† that the autopilot caused the accident. He also sent two copies to the NTSB (National Transportation Safety Board. ) which agreed with Gellert and asked him to testify against Eastern and Lockheed. Even with his testimony on his experiences with the auto pilot system NTSB found that a defect in the autopilot caused the crash, but attributed the tragedy to â€Å"pilot error† because the crew did not react fast enough. At this point eastern has done nothing to keep Gellert from doing his job . Until he had the same situation happened to him on two separate occasions, which prompted him to write a twelve-page petition to the NTSB as well as to top management. Gellert was immediately demoted to co-pilot. â€Å"Twice a year pilots bid on a base, a position, or a particular aircraft. † The first indication that he was being penalized by the company for his written petitions. At the same time the NTSB began to put pressure on eastern to make alterations to it's aircraft's. The pressure that went along with confronting eastern management forced Gillert to take a three- year leave of absence. And when Gillert decided to return to work, eastern denied him, questioning his ability to fly an aircraft concerned with his mental state. Eastern grounded Gillert indefinitely. A civil suit was filed and won by Gellert . The jury found Eastern guilty and awarded him 1. 5 million in damages, which were never paid, due to appeals. Gellert also filed a grievance to get reinstated as a pilot , which he won but Eastern refused to instate him as a full time pilot . The bottom line is that eastern was making life hard on Gillard because he wanted to do the right thing , he was aware of a problem which he tried to bring to the attention of the executives in charge . He was a dedicated employee and was only concerned about the safety of the people Eastern was flying and in turn Eastern continues to punish him and make his life extremely hard. I believe what has happened in the above summary of the Eastern airline case is that which is common among whistle blowers. Employees that decide to blow the whistle on big business for the greater good of the people are often subject to countless acts of discrimination. Employees are often demoted, pushed aside, put down ,alienated from the industry, and made their lives extremely uncomfortable for the mere fact that they tried to do the right thing. Gellert felt that the autopilot was defective yet management refused to listen, and then when it was to late and an accident occurred management didn't want to know , because they didn't want to except responsibility for not addressing the problem in the first place. If anything Gellert should have been rewarded for trying to prevent a disaster but instead, as is common for many whistle blowers he was punished. Employees who discover apparent wrong-doing have several options, they can turn a blind eye and continue as normal, raise the matter internally and hope for the best, blow the whistle outside while trying to remain anonymous, blow the whistle and take the full force of employer disapproval, resign and remain silent, or resign and blow the whistle. The key is minimizing the risk to you as an employee. As I have shown to blow the whistle requires a great deal of care and patience. Yet sometimes employees do not always make good judgements in the heat of the moment. Allowing himself or herself to be more vulnerable then someone who takes the time to plan and receive advice to do it right. Some simple questions will help to minimize your risk and determine if blowing the whistle is really necessary. First, make sure the situation is one that warrants whistle blowing. Secondly, you should carefully examine your motives. Third, verify and document your information. Fourth, determine the type of wrongdoing involved and to whom it should be reported. Fifth, state your allegations in appropriate ways. Sixth, decide whether the whistle blowing should be internal or external and if it should be open or anonymous. Seventh, make sure you follow proper guidelines in reporting the wrongdoing. And last you should consult a lawyer and anticipate as well as document retaliation. With all this said there is really no sure way to go about making the right choice on weather to blow the whistle or not. Employees that are forced to blow the whistle are often forced to do so because their concerns are not given fair hearings by their employers. This results in damage to both the whistleblower and the organization. Yet if wrong doing with in an organization go undetected, they can result in even in greater damage to the workforce, and the public at large. Whistle blowing is an effective way to regulate business internally and should not be discriminated against. In researching this paper it has come to my attention that whistle blowers may never have it easy. The possibility of causing career suicide should be maintained at the lowest level possible. A good indication of the how genuinely ethical our society is how organizations treats its whistleblowers. I can only hope that we will improve in the next coming century than continue on the course we have set for ourselves in the past. I strongly believe that society owes an immense gratitude to its whistle blowers and that they will soon be praised for coming forward instead of punished.