Protection of Human Rights Essay Example | Topics and Well Written Essays - 4000 words

Protection of benevolent Rights - Essay ExampleTowards this direction it is supported that Britain has unrivaled of the worst human rights records in Europe and faces investigation over its failure to comply with a serial of European court rulings1. On the other hand, the recognition of human rights in Britain has been often related with particularized sectors of the society, like the health sector. In this context, it has been noticed that there was much speculation about the potential impact of the Human Rights Act 1998 on established principles of health care practice now the statute has been bedded in, predictions that existing good practice would not fall foul of the legislation provided it was demonstrable, have proved to be broadly accurate2. As it ordain be explained below, the Human Rights Act 1998 has been extensively transformed through a series of constabularys that have been published since 1998 (i.e. ... rights in England human rights re of import at the heart of the foreign policy docket and the UK works through international forums and bilateral relationships to spread the values of human rights, civil liberties and democracy3. This paper entrust evaluate the development of English law on human rights in comparison with the international law on the specific issue (with a special reference to USA and Australia). In this context, the EU laws and the laws of countries at bottom the international community, like USA and Australia, are going to be examined in rule to identify the main elements of human rights law as they are highlighted and respected by countries internationally. The potential conflict among existed legislation will be also discussed (if identified) and appropriate courses of action are going to be suggested.Chapter OneIn order to understand the criteria used by legislators around the world (including UK) in order to develop the various nutrition regulated the human rights we should refer primarily to all aspects of human rights as a concept of evidentiary importance for both governments and public within the international community. In this context, it is stated that human rights can be characterized as basic moral guarantees that people in all countries and cultures allegedly have simply because they are people4. On the other hand, it is supported that the term human rights has mainly positive associations (with liberty, security, freedom of expression etc) but there is tiny understanding of the application of human rights / the HRA to normal life / public service delivery5. In accordance with the preceding(prenominal) definitions, human rights should be extensively protected by the law because they are the rights that guarantee the development (personal, societal

Future Career Personal Statement Example | Topics and Well Written Essays - 750 words

Future Career - Personal Statement ExampleThis on the wholeows me to use my imagination and creativity aboard the technical skills I throw off developed which allow me to conceive a problem from a full(a) range of perspectives.Business is an interesting field with as many variables as engineering, and perhaps less sure outcomes. Exceptions to business common sense can produce exceptional results the same can rarely be said of engineering. The very value of education in this field is one of hot debate, from entrepreneurs proud to have left school with nothing to the MBA hotshot riding the corporate inside track - it is a written report where success by any means can be argued as valid. As a super successful student of facts and natural laws, this is a highly intriguing idea. For all I can mark off from lectures and research, there is always a higher level to aspire to - always a rival with an go on of natural flair. An academic analysis, for example, of a systemic change can soon fail without the personal skills to sell it to the workers. I have spent a long time developing my brain I now want the chance to test my heart, soul and guts.There are numerous obstacles but the interesting part is to bruise the obstacles and run a smooth form of business. My parents have taught me that a balance between activities is always necessity for a healthy flavourstyle. I engage in spending my free time constructively by serving the community and doing several jobs in my free time. I love reading business books. dependable as I believe the highest level of success in business comes from drawing on twain ounce of talent and ability, I believe that success in life comes through engaging either talent. The Cass MSc in Management enables graduates from a wide range of disciplines to develop real world acquaintance and skills in key areas of modern management - it is this that most appeals to me, bringing the whole of my real world and life experiences to bear on how I do business. Through this program I hope to graduate with the reliance to sensitively and intelligently apply practical quantitative skills, which are required for a successful locomote in risk management. I chose to join the program to further polish out mytechnical and quantitative knowledgeof diametrical specialist risk management areas, such as financial modelling, valuation theory, acknowledgment derivative pricing, and credit portfolio management. My strong technical groundingandquantitative skill from my current studies will have a definite impact on my career, qualifying me for a more specialized risk manager role. As much as a personality is important in business decision making, a person is also important in their society. While decisions can be made without feeling and individuals can try to exist as islands, both states seem unnatural and dangerous - oversimplified models that ignore a greater complexity. Activities I enjoy are pleasant because of the interpla y between myself and my community - the term altruistic does not quite match, because I believe that every dogmatic carry out brings broad rewards. I can rationalize this as a kind of karmic belief structure, but in truth it comes down to an analytical approach - what is good for a system or business should permeate all levels to bring mutual benefits. My natural talents have been nurtured thanks to the good will and determination of others. As a product of a global society, I try to carry out activities that make a positive impact

Internship Essay Example | Topics and Well Written Essays - 750 words - 2

Internship - Essay Example bingle day I was sitting with my friend, and discussing how it has become hard to get a job in this agonistical world. He is an Audit Associate in Sacramento office of KPMG. He told me that recruiters in big companies and organizations take to hire new persons. One of their hiring criteria is to determine whether a potential candidate did an internship or research project. Our raillery went further, and I asked him to check in his company whether they are offering internship opportunities since I always harbored a daydream to work one of the big companies around, and KPMG is among the four-accounting firms in the world. He discussed my interest with the compass recruiter of Sacramento section of his company. The recruiter gave us an outline of a overcome letter and sorb, but the bad luck was when we designed my resume and cover letter for an internship position at KPMG, we realized that the company had already recruited interns for the summer period. We talked to a recruiter about it, and he suggested that we explored the availability of internship positions in other accounting firms as we wait for September when full-time hiring positions will be available at KPMG.I went back home and started looking for an internship position. Meanwhile, I handed over my resume and cover letter to my accounting course professors with an aim of getting their feedback, and probably their suggestions on how it could be make better. Just before the midterm of spring 2014, Susan, a student, posted internship information about Ashland Partners and Company, LLC on Facebook pageboy of Accounting Student Association Group. I talked to Susan about it and got a green signal from her. I move my resume and cover letter to Ashland Partners and Company, LLC, and after two days, I received an interview call from a company with my interview scheduled in two weeks time. I

3 English Assignments Assignment Example | Topics and Well Written Essays - 1500 words

3 English Assignments - Assignment Example infra examples of all five definitions, this will hopefully help every star understand vectors.Scalars are quantities that push aside only be measured. Temperature and time are examples of a scalar. Examples of time being measured would be a childs word per minute (wpm). Supposes Child X reads 118 wpm. The equation for this example would beThis equation states velocity equals 17 meters per second. That is the measurement of velocity, but velocity has another part. Velocity also has program line. To correctly state velocity one must state an object is travelling 17m/s South. The measurement of velocity is called speed. Thus velocity is make up of direction and speed. Velocity is a quantity that can be defined as a vector.Directions as defined in relation to vectors are as seen on a compass North, South, West, and East. In order to be considered a vector, the object must be going a direction that can be seen on the compass. If an individual is unsure if a quantity qualifies as a scalar or vector, just question if the quantity is heading a direction that can be mapped on a compass like the one below.The compass is separated into 360. Right angles are between each direction (N,S,E,W). North and South are separated by 180. Thus vectors are given a specific direction. Examples can be written two waysThe easiest way to explain this concept is the 30 North of East is 30 of the arrow from the East sign to the North sign or 60 North to the East side. The directions are 90 for each four sections of the compass.Vectors are quantities that have measure and direction. A bicycle, ball, car, and other objects can be measured and follow a compass direction. Vectors are symbolized as arrows and points. under is an example of a vector.Vectors are simply something that can be measured with direction that can be tracked on the compass. Vectors are extremely important in physics. Vectors can be acceleration, force,

Compare and Contrast Oedipus the King and Death of a salesman Essay

Compare and Contrast Oedipus the King and Death of a salesman - Essay ExampleBoth plays take got ends that have got tragedies that are followed by accidents. For instance the act of put the queen to ending looks like incisively a mere twist of fate but it is in fact a catastrophic act that is faced by Oedipus in future. Wilys death is a tragedy whereas his sons failure to embark on business is a calamity (Cohen, 2003).Both plays draw the concentration of the audience in appreciating the manner in which human behavior can have profound emotions on a person. Oedipus after discovering the truth blinds himself, whereas Willy maintains that his son must become a bourgeois even after finding out that his son is not interested in business at all.In both plays, the key characters are portrayed as having heroic qualities. Oedipus is a hero in his own right and there is no doubting that. This becomes evident and clear when he refuses to be victimized at all and instead chooses to remain totally loyal to Thebes people.Willy on other side kills himself for the solemn cause of making sure his family is develops. In both plays, the key protagonists are tragic heroes.Both plays plant cultures and lifestyles settings that are completely different. Death of salesman represents a present day tragedy whereas Oedipus represents an old heroic tragedy.Willys story is about present day activities like insurance and sales, unlike the story of Oedipus which is told in a traditional setting.In Oedipus, the main protagonist is the king who is painted as a very confident, provided the feeling that he portrays of himself to the audience about the real self is quite different. Oedipus on other fall in is so full of himself and feels outstandingly perfect(Cohen,2003).Although Willy looks like he was treading on the right course in his activities just the way Oedipus did, he does not live to face the outcomes of his activities like Oedipus. While

Controlling Freedom Essay Example | Topics and Well Written Essays - 750 words

Controlling Freedom - probe ExampleThe propaganda model propsed by Chomsky argues that the maintenance of control over the media is a result of free mart forces operating on a daily basis and does not necessarily require conscious planning. The human body of conditions and accidental necessity needed to do this can be comp bed to a that of a crystalline structure. By move a stream of balls over a flat box like frame we inevitably end up with a perfect benefit structure. In the same way by pouring news, information and ideas into the basic framework of free market goals we end up with a self twist pyramid where by supportive elements within the pyramid find themselves in stable positions and those unsupportive elements of the pyramid are simply forced out. The framing of these conditions which facilitate the building of these near perfect crystalline structures are called the five reality filters. The first filter is related to the size, ownership and expense of producing media. The second argues that the media are hard dependent on advertising and sponsorship, thus content has to follow advertiser friendly lines or risk loosing snappy funding. Thirdly, resources are concentrated where significant news is likely to occur, while non routine sources of news often peel to find access to the media. The fourth filter, called Flak, refers to the negative responses that are received by media due to a plan or article. Just as supportive media is naturally assisted, unsupportive media is attacked and vilified. The last filter is called anti-communism and refers to the need for a common enemy. Throughout history we see examples of the creation of new evil empires ( communists , Islamic terrorists etc) which threaten the status quo, requiring the drudgery of more arms and therefore increasing economic activity and generating important revenue. In testing the system there are numerous examples of media attention being directed to serve corporate interests and go vernment agendas. uprightness filtration also extends to media black holes, where unsuitable truths are simply not reported. A horrific example of this is eastward Timor, where Indonesian brutalities administered from weapons traded in multi million pound deals with the British, huge oil reserves and an amiable dictatorship ensured the debonnaire functioning of the filter system. The vast majority of the general public were unaware of the massive human rights abuses and atrocities victorious place. Ignoring, silencing and not giving voices to those that contradict the line is another filtration system which ensures the ongoing passivity of the general public. The Iraq war in 1993 saw the whipping up of an effective media campaign against Iraq and its evil dictator that had invaded Kuwait. The just and noble forces of exemption went into action backed by the media. Clark in his book The Fire This Time, US War Crimes in the gulf demonstrates how the western sandwich version of m edia events was untrue and that the war was in fact set up, manipulated and brought about to remove obstructions to western economic interests. Other examples of the propaganda model in action can be seen with examples such as orbiculate warming. In 1990, despite government unanimity on its existence and the potentially

Reflective writing Essay Example | Topics and Well Written Essays - 1000 words - 2

Reflective committal to writing - Essay ExampleEach one of them has its importance to understand the whole concept of human wellness (Jasper, 2003). Each of those ables has their opposite goals to piddle away a student understand the objectives in a specific way. For example, I learnt the significance of blood tests and its relation with the physiology of the uncomplaining. I learnt about various diseases and disorders in my patients through in-depth study of pathology. During my job of studies, I have observed that sometimes decl ars can unearth what a doctor fails to discover deep down a patient. Clinical experience further polishes a student. It enables a nurse to understand the practical and look based approach of this profession (Neal, 2003). During my course of studies, I have learnt the role and responsibilities assigned to a nurse in a typical healthcare setting. Nurses are riveted to deliver quality care function to the patient. Nurses are the key persons behind f ormulating a care plan for the patient. My courses have enabled me to become a couplet between a patient and a doctor. My studies have helped to develop a sheer knowledge on different diseases and how a doctor responds to his patient (it also includes the treatment), knowledge on different kinds of drugs, knowledge of nurse care and how as a nurse I have to respond to my patients. My studies have also taught me how to make the decisions as a nurse, how to respond to your setting and how to prioritize and organize your responsibilities. In my opinion, nursing is an art as well as a science. It is an art as it helps me as a nurse to seek different innovative ways to provide care to my patients emotionally and physically as well as it becomes a science when I have to treat my patients using different medical techniques and drugs. Basic nursing techniques are the core of this course which were taught to me in the most professional manner. During the years of progressing as a professio nal nurse, I have witnessed that it is valuable for a nurse to develop therapeutic relations with the patients. For a nurse, it is highly important to maintain a close relation with the patients based on swan and respect (McHugh, 2000). Secondly, as a professional nurse I believe that nurses should know the art of communication and interaction with their patients. My course subject related to the study of behavioral sciences and human psychology has helped me to interact, understand and communicate effectively with my patients. It is important that nurses should focus on their interaction and communication skills when establishing therapeutic relations with the patients. According to Cutcliff (2005), nurses should emphasize on establishing increased interactions with their patients which as a result, increases their confidence, independence and competency as a professional nurse. As a result, as a professional nurse and a part of quality healthcare system, I am to a greater extent focussed on developing communication and interpersonal skills with my patients and their families. I have observed that patients feel more untie and confident with those nurses who make them feel comfortable even in pain and suffering. To make a patient trust you, it is highly important that you should know the art of communication which will help you to secure the trust of your patients (Nichols, 1993). As a professional nurse, I believe that there is a need to focus more on how the relationship between a patient and a

Potential impacts of climate change on food security Essay

potency impacts of mood change on food security - Essay ExampleThis is in either temperature or a decrease, as well as in precipitation since climate change does non happen upon certain areas in the same way. Current Trends A look at the production of food adjacent the changes in climate, thanks to increased levels of cytosine dioxide in the atmosphere, reveals that food production is bound to increase found on a number of factors. This is especially so in the case of regions that grow ice, maize and wheat, as coke dioxide increases yields of these crops, but that implies that other regions not growing these crops as set to be left tabu in the bumper harvest (Parry et al, 2004). As per research, the most adversely affected regions are those found in sub-Saharan Africa, with the largest variation in cereal production, in a negative level. As for most of Asia, and all of Australia, increases in food production will be increased. As a result, Africa is the only region to suffer from bring down food security, whilst areas close to the north pole suffer second, and the rest of the world experiences improved food security. atomic number 6 and climate change All across the globe, one of the most common causes of climate change is carbon emission that leads to increases in temperature, which begs the question what are the effects of this gas on the climate. This has been concluded that carbon dioxide is a chief contributor to global warming, which is part of why the climate is changing to be warmer in some areas, while others get cooler. As a result, the use of alternative sources of energy that do not entail and so emission of carbon into the atmosphere should be encourage and can be encouraged by use of statistical or empirical data obtained from environmental studies on climate change. unrivalled of the ways in which climate change can be mitigated by application of innate resources and sustainability option is through use of renewable resources that h ave minimal impact on the environment. Those that contain skin senses amounts of carbon can be used as they do not release any carbon into the atmosphere and temperatures remain stable. Implications of this are that food production remains the same throughout time, and in fire of economic and outlandish activities. Resource sustainability Although there are studies that are indicative of food sustainability through climate change, the larger percentage of the human population is bound to remain in poor nutrition receivable to food insecurity owing to poor scattering of food resources. The use of renewable resources such as wind power are bound to mitigate these climate changes in that African regions experiencing drastic changes in reduced food production, all thanks to carbon emissions, get to enjoy similar food distribution trends. In addition, climate change can be mitigated to ensure food security by using soil conservation measures, where soil is a renewable resource, and its conservation is a guarantee for agricultural productivity. Because of these conservation efforts maintaining moisture in the soil adds up to conservation efforts that are a largely demand to ensure that soil as a renewable resource is kept intact and highly productive. This then highlights the need for water conservation, as water is a renewable resource, and one that requires the extended use of conservation to balance many other aspects such as maintain

Sanctification Based on Calvins Theology Essay Example | Topics and Well Written Essays - 2500 words

Sanctification Based on Calvins devotion - try place ExampleThe first part will try to define ethical motive while the succeeding contribution will tackle about the different meanings attributed to sanctification, giving emphasis on what is taught by Calvinism. In washy of this, the issue that links sanctification with theology will be examined through a discussion on the interpretation of morality. This paper will conclude with its findings.In the strictest sense, morality refers to which is innately regarded as right or treat (Morality 2006). There isnt a concise meaning associated with morality as it often refers to set of judg manpowerts and principles sh ard by individuals in within the same culture, religion, and philosophical concepts which separates and identifies actions which are right or wrong, acceptable and unacceptable. The concept of morality is often used by groups to regulate the functioning of their circle by setting a proper(postnominal) standard by which their members are subjected. In other words, the concept of morality serves as a modulate factor in maintaining the harmony in a group.We can see a problem of morality given this definition. We can see that morality varies from culture to culture, religion to religion, and sometimes even from individual to individual. both(prenominal) actions are considered acceptable by a culture, while others see the same action as immoral. Examples of these are abortion, white lie, and euthanasia. Some groups and individuals consider these as permissible while others question the morality of such actions. Calvins TheologyJohn Calvin is one of the most famous theologian and ecclesiastical statesman. Through his revolutionary beliefs and teachings, he became the major(ip) French Protestant Reformer and was dubbed as the most important figure in the second propagation of the Protestant Reformation. His ideas of Christianity are found in his famous work Institutio Christianae Religionis (Institute s of the Christian Religion). John Calvin laid out the foundation of Calvinism which is one of the major factors that influenced the formation of the modern world (John Calvin 2002).One of the most important doctrines contained in Calvins theology is the doctrine of original underworld which is adopted from the Augustinian teachings. This doctrine supports the idea that the whole mankind has travel before God when Adam and Eve fell prey to the temptation in the tend of Eden. The sin couchted by the first man is denoted as the original sin. At that point, sin entered the heart of men and everyone born on this earth has the original sin. Sin is what separates man from his creator. Therefore, the fall of man in the Garden of Eden makes man a slave of sin and every human being has an inclination to commit sin (The Teachings of John Calvin 2000). Institutes of the Christian Religion states thatWhen the will is enchained as the slave of sin, it cannot make a movement towards goodness, far less steadily pursue it. (2.3.5)Man alone has no power to carry on himself from sin. Even though his freewill was not removed from him, he cannot resist the urge to commit sin. However, Gods dandy love and compassion for mankind made a remedy for this situation. Through the Son of God delivery boy Christ, man was freed from the burden of sin. Calvin refers to this process as justification. Through this justification, mans original sin is forgiven. John Calvin also attribute forward that another

What Is Postmodernism Essay Example | Topics and Well Written Essays - 1250 words

What Is Postmodernism - Essay ExampleThe essay What Is Postmodernism gives a detailed information about postmodernism. One hand, it is quite difficult to provide proper description of the periods when the transitions argon happening and on the other hand it is also not possible to figure out right the main signs of postmodernism. Perhaps it is the 30s, when the first time the term postmodernism was used. During this time postmodernism actually referred to change in historical spectrum of the Western world as well as certain changes that became conspicuous in the prevailing blind forms. It is the 1970s, when postmodernism drew huge attention from scholars in every field. In his book, A Primer on Postmodernism, the root Stanley J. Grenz has commented about prevailing influence of postmodernism, First it denoted a new style of architecture. Then it invaded academic circles, primarily as a label of theories expounded in University English and philosophy departments. Eventually it su rfaced as the description for a broader cultural phenomenon. If an attempt is made to find the basic concept of postmodernism, it is quite clear from the term itself that postmodernism signifies a movement that seeks to go beyond the modernism and widen the scope as well as substance of modernism. Postmodernism basically follows the main principles of modernism but at the same time it rejects just the modern cognitive process of thinking and introduces more aspects to the whole matter. In order to understand postmodernism it is important to understand the modernism.

Psychological Testing Essay Example | Topics and Well Written Essays - 2750 words

Psychological Testing - Essay ExampleThere is no atomic number 101 or psychiatrist at the end of these assessments. Only a paragraph or two stating that because of the answers of a specified number of questions, the person taking the quiz is or is not depressed, happy, etc. The concept of variation online surveys is great. Take a test to find a persons RealAge (Buchanan, 2002 Buchanan, 2003 Live Life to the Youngest with RealAge) or knowledge of books and movies, or even what job is the best, plus there be thousands more. The developers of these web sites that deal with medical issues create a very small medical disclaimer, usually at the bottom of the page, stating that the tests are for fun, and if a person has a true concern, medical attention is advised. This covers the developer, but allows for hundreds of thousands of sight to take his/her word as the word of the situate (Buchanan, 2002 Buchanan, 2003 Live Life to the Youngest with RealAge).Online surveys, if answered trut hfully, could possibly lead to help people who think they may be depressed. For these people there is no differentiating a good and healthy test or quiz with an online game. These people could be misdiagnosed, or even worse, given a treatment that does not work and is potentially dangerous (Buchanan, 2002 Buchanan, 2003).This is the alkali for which all new clinical studies should be considered. The majority of people in more or less western genteel countries will take these online tests and take the results as if from a real doctor. It is therefore important to analyze the differences amid the games and the real questionnaires. The reliability, validity and statistically analyzed data need to be better understood by both the public and physicians to ensure the person/patient is not receiving incorrect information. Everyone must be ready in this area and work harder to standardize the online and clinical questionnaires to build a broader base for data collection. books ReviewE ven with the internet being fairly new in the last 20 old age or so, there are more tests for personality and such on the internet than in most hospitals. Many of these are placed on websites that are not secure, are not authorized by any type of psychologist, psychiatrist or physician (Buchanan, 2002 Buchanan, 2003 Buchanan, Johnson, & Goldberg, 2005). But before the discussion turns to the website, the tests themselves need to be considered. When conducting any test, it is important to have the foundation of the population that will be tested as swell up as some basic norms to be used in the evaluation process. From these norms come labels or concepts that are often associated with web-surfers. In a comparative reputation on the preconceptions of internet based tests (Gosling, Vazire, Srivastrava, & John ,2004). The study listed six creative thinkers, but for the purpose of this study, only a few will be considered. The first is the idea that the internet will not be as divers e as traditional methods of research. The group classify internet users to be computer techs or loners (Gosling et al, 2004). These stereotypes did not necessarily coincide with previous research on the subject. In fact, the volunteers who take the online test are quite diverse and located around the

The Role of Women, Family, and State according to Aristotle Essay

The purpose of Women, Family, and State according to Aristotle - Essay ExampleAccording to the views of Aristotle, ein truth State has the mark of doing good for its volume. It does non matter in what ways the goodness is achieved, at the end of the day every State has the intention of providing the best for its flock and giving them a comfortable and justiciable lifestyle so that they can develop as human beings and usher into the new era with more confidence and passion.Mankind always acts in the order of good. every(prenominal) society is formed with a view of having a positive impact and influence on the people who comprise the society and this circle flows in existence. The human existence is marked by positivism as well as optimism for the greater good.He then follows by saying that the definition of the leader to be the theatre director of a few people and for the Statesman to be the manager of a large number of people is sometimes misconstrued to display a false pictur e which does not exist in reality. Government is very different to the system which is run in the households and from that understanding it would be foolish to say that the qualification need is the same for both the parties.Aristotle then goes on to say that in a family the men is the master and the fair sex is a slave to the master who has to take care of the house as the man would be step to the fore in the fields to get food and money for the family. He works and earns for the family while the woman is at that place to take care of the children and the men of the family. This is a very narrow definition of the family and Aristotle has gone on a very negative tangent to define the functions and characteristics of the family.

Global strategy Essay Example | Topics and Well Written Essays - 2000 words

Global dodge - audition ExampleStatistics also show that approximately 47% of the companys sales were coming from the outdoor(a) markets beyond the US home business. The company had also diversified its business interests, and it sold nearly everything including, hardly not limited to books, digital music and jewellery. Despite its acclaimed success and impeccable international reputation, virago has undergone with a number of challenges, which have been weathered successfully and efficiently. Some of the challenges that have bedevilled the company over the geezerhood include the failing sh areholder attitudes and the current global financial crisis. The firm has continuously taken strategical decisions and actions geared towards sustainability and financial prosperity this has seen it grow with an edge above its rivals in the electronic trade industry. This root word will dwell on, among another(prenominal) things the dominant strategy-shaping economic and competitive charac teristics of Amazon, qualitative assessment of amazon.com by lend oneself of Porters five Forces model, critical success factors of amazon.com, and the SWOT analysis of amazon.com. What are the dominant strategy shaping economic and competitive characteristics of Amazon? Any business is obliged to meet its obligations to both the shareholders and consumers respectively, that is, it should be profitable as well as cater for consumer satisfaction needs. In this regard, Amazon, like any other business in the area, has such obligations to meet. Since its inception in the year 1995, the company has experienced tremendous harvest-feast that has long surpassed its primary goal of becoming the largest and best bookstore in the dry land. However, according to Amazons CEO Jeff Bezzo, it is up to others to determine if the Amazon has achieved its goal of being the most customer-centric company in the world (Stockport 2009, p.574). Amazon aims at providing consumers with their needs, introd ucing consumers to innovations and store personalization to cater for diverse consumer tastes and preferences. In order to achieve these goals, Amazon has select a number of strategies that act as a roadmap to economic prosperity and sustainability. Firstly, Amazon has adopted a three pillar strategy that comprises of selection, price and widget (Stockport 2009, p.575). The selection pillar entails offering a diversified range of products and services for instance, this includes retail products, software and cloud computing services. Under the price pillar, Amazon commits to price leadership with due regard for quality of products and services. For instance, the firm provides free transport to customers with expedient delivery. The convenience pillar dwells on ensuring customer satisfaction through the provision of relevant and effective goods and services. Amazon strives to rede customer needs and requirements through customer review and feedback reports on its products and serv ices. Amazons staff recruitment process has also been tailored to promote achievement of the companys primary goal (becoming the worlds most customer centric company). The company does not choose employees on the basis of their skills, only when rather on the basis of their need to meet customer needs and expectations. Bezzo argues that in the changing world, skills that are needed today may not be

Criticaly examin the role of international creadit in contemperoray Essay

Criticaly examin the role of international creadit in contemperoray economies - Essay Examplee in the development and magnification of the international business, and further provides support, tools and opportunities for progressive growth (Vidal, 2002).The ch solelyenges faced by international impute are sit of political instability within specific regions associated with the international faith. Considering example of Central Asian countries, before kin 2001, different countries agreed to provide financial credit to these nations to develop infrastructure, however soon after US-led intrusion of Afghanistan, the economic conditions of Central Asian countries took u-turn. The wave of terror affected the society and economic system of these countries severely, to an extent the all the international credit facility was either halted or roll-back. This reference makes it explicitly clear that international credit is not just economic driven rather it is complicated exercise and a ssistance (Kaihara, 2003).The financial credit facility is offered to the countries to increase their foreign revenue which shall strengthen the purchasing powers of the country, and is able to support the ailing economy through infrastructure development and resource management. As per general rule, the international credit facility is offered to countries having militia less than estimated amount of three-four months of import bills. However the institutes have explored that availability of capital flows to offset current bankers bill shocks should, on the face of it, reduce the amount of reserves a country needs, but access to mystic capital is often uncertain, and inflows are subject to rapid reversal (Jan, 2002). There have been occurrences where the developed and economically capable countries have stumbled, it is therefore no surprise that the traditional current account approach has been viewed more(prenominal) sceptically in recent years, and there is a growing convicti on that emerging mart countries with liberal capital accounts require more reserves rather than less, and that we should look

Is deindustrialisation a cause for concern Coursework

Is deindustrialisation a cause for concern - Coursework ExampleThe set-back and fore or so negative impact of deindustrialization involves transition and reduction in employment trends. With the reduction in industrial capacity of developed economies, the employment levels in these sectors are bound to decrease. The people employed in these sectors pull up stakes be gradually reduced or eliminated which pose the inevitable problem of unemployment or altering the expertness set to ad safe themselves to other emerging markets, which concomitantly involves the service sector. Another major setback of deindustrialization is the evolution divide on sparing terms that is growing gap mingled with rich and poor in particular. The people who are most reliant upon manufacturing sectors are the ones who will suffer most when there is a transition of manufacturing economy to a service sector-based economy. While this group of people will suffer most economically, who will find themselves either out of employment or willing to work on truly low wages just to keep the ball rolling, on the other hand will be people who are already working in the service sector and face better prospects in future as the sector grows. This is what happened in Detroit where deindustrialization has resulted in an increase in unemployment and growing divide between rich and poor. Detroit was famous for its automotive industry and with a high proportion of people employed in this industry the residents enjoyed a high standard of living. This was not for long as Detroit faced deindustrialization and automotive companies before long began to migrate to the southern US states or other countries to take advantage of lower wages. As a result, the people who were employed in this automotive industry faced huge employment crisis and the income per capita in this particular area has been alarmingly low in the recent past. In addition to this, people have started to digress for pastures new to bri ng an improvement to their deteriorating living standards. As a result of deindustrialization, manufacturing sector consists of the smallest share of US workforce in more than a hundred years (Boundless, n.d.). The same concept applies with other nations where the distinction has been on a rise with the developed economies such as United States, Unite Kingdom, Japan, France and Germany steeringing on value added products, particularly services. On the other hand have been the developing and industrializing nations such as China, India and Indonesia who focus on manufacturing. The trends indicate that the economic disparity between developed and developing nations have been on a rise due to manufacturing. (International Monetary Fund, 1997) The most significant factor of deindustrialization has however not been discussed much by the analysts, maybe because they have underestimated the potential problem at hand. Although we live in a world of globalization, it essential be noted th at a fully globalized world on the basis of competitive advantage is just a theory and not practical. This cannot be put into practice because a country should be sustainable to meet the demand of at least the important and essential products, for example eatables. It is true that the current economic circumstances require developed nations to turn to value added products such as services. But in post to be a sustainable economy,

The Great Atlantic & Pacific Tea Company Essay Example for Free

The long Atlantic peaceful teatime come with Essay callers briefly introductionOnce 1 of the biggest baggers of groceries in the US, The Great Atlantic Pacific teatime Compevery (AP) has been reduced to a shrinking portfolio of regional securities industry filaments. It now runs about 300 supermarkets in young island of Jersey, New York, Pennsylvania, and three other eastern states. In addition to its mainstay 80- stock certificate AP chain, the follow operates vanadium banners Pathmark, Waldbaums, Superfresh, diet Emporium, and Food Basics. AP acquired its longtime rival in the Northeast, Pathmark Stores, for about . 4 billion, but the purchase fai urinate to bump APs lagging fortunes. Indeed, AP in 2012 emerged from 15 months bankruptcy after a fiscal restructuring and closing 75 depots.to a greater extent from WikipediaThe Great Atlantic Pacific Tea Company, better cognise as AP, is a supermarket and liquor store chain in the United States. Its supermarkets, w hich argon under six different banners, be found in Connecticut, Delaw ar, Maryland, New Jersey, New York, and Pennsylvania. APs liquor stores, kn experience as Best Cellars, are found in Connecticut, Massachusetts, and Virginia.2 APs corporal headquarters are in Montvale, New Jersey.3 Supermarket News ranked AP 19 in the 2010 Top 75 Food Retailers and Wholesalers based on 2009 fiscal year estimated gross revenue of $9.1 billion.4 Based on 2009 revenue, AP was the 34th largest retailer in the US.5 From 1915 done 1975, it was the largest food retailer in the nation (until 1965, the largest US retailer of any kind).6 AP is considered an American icon.7 The Wall Street Journal, in an editorial on December 10, 2010, said that AP was as well known as McDonalds or Google is today and that AP was Wal-Mart before Wal-Mart.8 What is now AP began in 1859 it established a small chain of retail tea and coffee stores in New York City and a study mail regularize business.It grew to 70 store s by 1878. In the late 19th century, AP, still a tea and coffee company, became the countrys set-back grocery chain. At the turn of the century, it operated almost 200 stores. The company grew dramatically after introducing the economy store innovation in 1912, outgrowth to 1,600 stores in 1915. After World War I, the company receptive stores fling warmheartedness and produce. In 1930 the company, now the worlds largest retailer, put acrossed $1billion in sales with 16,000 stores.9 In 1936, AP adopted the self-serve supermarket concept and opened 4,000 larger stores by 1950.10 APs decline began in the 1950s when it failed to keep pace with chains which opened larger, freshly supermarkets with features demanded by nodes. By the 1970s, AP stores were out of date its efforts to combat high operating(a)(a) addresss resulted in poor customer service. In 1975, the company hired outside management, closing older stores and building modern ones. When these efforts failed to turn the company around, the heirs of the original owners, and foundations that owned a major(ip)ity of the stock, sold to the German Tengelmann Group.AP then projected a store-closing program financed by the surplus assets of its pension plan.11 Starting in 1982, AP acquired several chains these stores operated by their call rather than AP. While AP regained profitability in the 1980s, in 2002 it operated at a record loss because of new rival, especially Wal-Mart. AP closed more stores, which included the sale of its large Canadian division. In 2007, AP purchased Pathmark, one of its toughest competitors AP over again became the largest supermarket chain in the New York City area. Highly leveraged after this acquisition, the company experienced financial difficulties because of the recessional and filed for Chapter 11 protection in 2010. In late 2011, AP implemented a restructuring plan to emerge from bankruptcy.1213 On March 13, 2012, it was announced that AP had emerged from ba nkruptcy and was now a snobbish company.HistoryMore than 150 historic period ago, The Great Atlantic Pacific Tea Company, Inc. (AP) began operations as The Great American Tea Company. Its prototypal store on Vesey Street in New York City sold tea, coffee and spices at prise prices. Soon after, stores sprung up all around the New York metropolitan area, and salesmen took their wares to the road in horse-drawn carriages curtail for New England, the Midwest and the South. In 1869, the Company was renamed The Great Atlantic Pacific Tea Company, commemorating the beginning transcontinental railroad. In 1936, AP became the stolon national supermarket chain in the United States, one of many another(prenominal) advanced concepts that radically changed the way consumers shopped. Itsvast advertising and promotional activities happen uponed so many consumers that AP became an American icon. Below are select milestones from the Companys rich history 1859-1899 Becoming a Grocery Pi oneer* 1859 The Great American Tea Company is founded as a mail order business by tea and spice merchants George Huntington capital of Connecticut and George Gilman. The selfsame(prenominal) year, the stolon store-warehouse operation opens in New York City at 31 Vesey Street. * 1869 The Company is renamed the Great Atlantic Pacific Tea Company, or AP. * 1880 AP begins trade its own brand of baking powder, its first toffee-nosed cross out product. It also pioneers the use of refrigerated railroad cars to transport fruit, and becomes the first to bring fresh seafood to the Midwest. * 1881 AP becomes the first grocery chain to operate 100 stores and expands to 5,000 deli very routes. * 1880s With the publics taste for coffee growing rapidly, AP establishes its own brand, Eight O measure Breakfast Coffee, packaged in a red bag. George Huntington Hartford names the product after the time of the day that he believed the most coffee was consumed. * 1887 Sales hit $1 million.* 1890s AP introduces premium checks to be redeemed for cups, saucers and other goods, marking the first original customer-loyalty program with premiums and savings coupons. 1900-1959 Becoming an Innovator and American Icon* 1912 John Hartford convinces his father and brother to launch the first no frills grocery format in America with the opening of the AP rescue Store in Jersey City, N.J. The cash and carry store, with plain furnishings and fixtures, unfolded no character reference, no deliveries and no premiums just pure tone groceries at very low prices. * 1920 The AP Economy Store concept flourishes and catalyzes an extraordinary period of growth, resulting in 4,638 stores, from about 350 stores in 10 years prior. * 1924 The AP Radio Hour launches as Americas first national radio program. Soaring in popularity through the 1930s, it featured popular artists such as Kate Smith, Harry Horlick and the AP Gypsies. * 1929 AP more than triples its store count to 15,418 stor es and increasessales five-fold to reach the $1 billion mark.* 1930s AP expands to California, Washington and Canada. * 1933 AP participates in the Worlds Fair in Chicago. Housed in a 2,000-seat amphitheater, the AP carnival draws thousands of visitors with the AP Marionette Revue, Harry Horlick and other entertainment. * 1936 AP opens the nations first supermarket, a 28,125-square-foot store in Braddock, Pa., that enables customers to select their own groceries without the assistant of a clerk.* 1937 AP launches Womans Day magazine through a wholly-owned subsidiary, The Stores Publishing Company. The magazine features articles on food preparation, crustal plate decoration, needlework and childcare, mete outing for two cents a copy exclusively in AP stores. * 1941 Eight O Clock coffee becomes the trounce-selling brand of coffee in the world. * 1958 Sales grow to $5 billion and 4,252 stores. AP go past the industry, with volume exceeding that of its closest competitor by more than $1 billion. * 1959 AP celebrates its 100th anniversary.1960-1999 Becoming a Supermarket Family* 1963 With its new Plaid Stamps redemption program, AP brings back the premium concept. With every purchase, shoppers scram plaid-colored stamps, which can be posterior redeemed for popular household items, such as snack trays and Lazy Susans. * 1971 AP opens its first Warehouse Economy Outlet (WEO). This low-price warehouse concept, featuring displays of fast-selling grocery items in the original cases, is rolled out to 1,500 stores. * 1979 The Hartford Foundation and family members sell the majority of AP functions to The Tengelmann Group of West Germany in the face of declining sales and profitability, as competitors follow consumers to the suburbs.* 1980 James woodland is elected Chairman, President CEO. Under his die hardership, the company closes operations in several markets, including hundreds of older stores and the majority of its manufacturing operations. * 1981 first gear a new growth via acquisition strategy, the Company purchases 17 Stop Shop supermarkets in New Jersey. * 1982 The Company launches the Superfresh banner in the Philadelphia area, emphasizing product freshness and strong customer service. * 1986 AP acquires the Bronx, N.Y.-based Shopwell Inc., which includes 26 upmarket stores named The Food Emporium. It expands further in New York withthe acquisition of Waldbaums, Inc. that fall. * 1994 AP in the U.S. launches a new cloak-and-dagger scar program, introducing four new brands across all of its banners Americas Choice, Master Choice, Health Pride and Savings Plus.2000-Present Innovating and Restructuring for the Future* 2000 The Food Emporium opens its unique Bridge Market store, located at 59th Street and First Avenue down the stairs New York Citys landmark Queensborough Bridge. * 2001 AP opens its first U.S. Food Basics store in Passaic, N.J. * 2003 To reduce debt and lower operating costs, AP exits Nort hern New England, sells Kohls stores in Wisconsin (which it acquired in 1983), closes all remaining Kohls operations, and sells the Eight OClock Coffee division. * 2005 The Great Atlantic Pacific Tea Company, Inc. sells AP Canada to METRO INC., a supermarket and pharmaceutical operator in the Provinces of Quebec and Ontario Canada.* 2009 The Great Atlantic Pacific Tea Company celebrates its 150th Anniversary as the oldest grocery retailer in the United States. * 2010 The bestride elects Sam Martin as President CEO. Under his leadership, the Company embarks on a turnaround plan and files for Chapter 11 to enable it to restructure its operations and financial obligations. * 2011 AP launches Woodson James, a new line of premium-quality Angus beef featuring steakhouse-quality meat at affordable supermarket prices, exclusive to all AP, Pathmark, Superfresh, Waldbaums and The Food Emporium stores. * 2012 AP exits Chapter 11 as a semiprivate company with 320 stores.SWOT ANALYSIS The Great Atlantic Pacific Tea Company (AP or the company) is assiduous in the retail food business. The company offers a strong portfolio of private judge brands. one thousand Way, a new private tag launched in 2009, features over 200 wellnessy, organic fertiliser and eco-friendly products. In the current economical environment, consumers are tending to choose private adjudicate brands due to their quality and competitive pricing. Given the growing demand for private label products, the companys portfolio of private brands offers a competitive advantage. However, the sluggish US economy could disgrace purchasing power of consumers bear uponing the sales of the company.StrengthsWeaknessesRobust private label portfolioDeclining market share operative and financial issues led to bankruptcy filingMultiple store formatsCoupons portfolioOpportunities ThreatsEconomic downturn in US affects consumer spendingOnline retail channel offers opportunities for revenue growth Increasing demand for organic productsIntense com supplicantRising labor earnings in the US likely to increase the operating cost Remodeling of stores allow for lead to incremental salesStrengthsRobust private label portfolioAP offers a strong portfolio of private label brands including Americas Choice, Hartford Reserve, Live Better Wellness, Americas Choice Gold, Smart Price and Via Roma. APs Americas Choice brand presently stands among the best selling private brands in the industry. In addition, in 2009, the company launched Green Way, a new private label line featuring over 200 healthy, organic and eco-friendly products. The company launched The Food Emporium Trading Company private label brand of international persuasiveness items, in November 2010. In the face of macroeconomic closets, consumers are increasingly opting for private label products. According to industry watchers, private label sales have change magnitude in the US in the recent years. In the current economic environme nt, value-oriented consumers are choosing private label brands due to their competitive pricing. Also, strong push from retailers and improvements in both quality and selection has been influencing the shopping dilutes. This trend is expected to continue even after the economy recovers as consumers consider the quality of private label brands to be as high as name brand products.In addition to providing savings to consumers, private labels supply higher operating margins than national brands to AP thereby improving profitability. Increasedpenetration of these private labels exit improve the margins of the company. Additionally, they offer a competitive advantage and will enable the company to develop a niche customer base. Multiple store formats AP operates multiple store formats. The companys store formats vary from full-service supermarkets featuring fresh produce, seafood, meat, deli, groceries, floral, and pharmacies, to upscale gourmet stores (The Food Emporium), to limited variety stores featuring everyday low prices (Food Basics). Through its broad base of supermarkets, AP has grow and diversified within the retail food business.The company operates stores with merchandise, pricing and identities tailored to appeal to different customer segments, including buyers seeking gourmet and ethnic foods, a across-the-board variety of premium quality private label goods and health and beauty aids along with the range of handed-down grocery products. The wide variety of products offered to take in the needs of a diverse customer base will drive footfall and also provide immense opportunities for cross selling. This in turn will contribute to higher revenues by increasing the come ticket. Coupons portfolio Consumers drastically cut back on spending during the recession as unemployment rose and lending slowed. They are looking at generating more value for the money spent. AP, keeping this in view, launched a comprehensive coupon portfolio of innovations in 2009, to provide shoppers with more savings and convenience.The company partnered with Zavers, a pioneer in digital couponing, to launch the first paperless, clipless and completely digital coupon service unattached by a supermarket chain in the Metropolitan New York area. This service allows nine-spot card members at AP, Pathmark, Waldbaums and SuperFresh to go online and save the coupons directly onto their club card. The savings are automatically deducted off the customers shopping order once the club card is scanned at the checkout. Subsequently, AP introduced the Rewards Online Mall, allowing club card members to earn rewards by making purchases at over 1,000 online retailers including eBay.com, Best Buy, Home Depot, Macys, Barnes and Noble, Travelocity, Staples, 1-800-FLOWERS and many more. For every purchase made, customers can receive an average of 3% back.Once the total reaches $10, customers will receive a Rewards Certificate in the mail to be used towards their next in- store purchase at any AP, Waldbaums, SuperFresh, The Food Emporium or Pathmark store. To complement its couponingprograms portfolio, AP also premiered an innovative new online coupon trend available via its banner websites. This service which helps customers save more money while shopping for groceries, was made available through APs partnership with Coupons.com. Each of the companys banner websites features a special coupon gallery with hundreds of dollars of savings on all departments. Besides offer savings this service is convenient and saves time. Such extra benefits offered by the company will help attract customer visits.WeaknessesDeclining market shareAP has been losing its market share to the bigger discount retailers and wholesale clubs including Wal-Mart, Costco, Target, and BJs. These companies have expanded into the grocery business and yielded to the economic downturn by lowering prices, thereby attracting the value-driven consumers. The big-ticket consumers, on the other hand, preferred higher-end retailers such as Whole Foods and principal Joes. AP by sticking to its consistent pricing, lost its customers to these companies in the difficult retail climate, while the other grocery retail chains lowered prices considerably, endorsed value proposition, and attracted sales. The company recorded a decline in revenues of 8.3% and 7.4% in FY2011 and FY2010 respectively. The sales declined primarily due to a decrease in comparable stores sales and store closures, partially offset by sales from new stores. The overall decline in sales was primarily caused by a decrease in customer count. The loss of market share to competitors has affected the company financial results significantly.Operational and financial issues led to bankruptcy filing AP, in December 2010 filed a voluntary petition under Chapter 11 of the US Bankruptcy Code with the US Bankruptcy Court for the Southern partition of New York to facilitate its financial and operational restructur ing. The company experienced severe financial and operational issues which led to this move. At the end of the terce quarter of FY2011, the company had cash reserves of $92.4 million compared with $281.8 million during the same period, the previous year.The company had long-term debt of $816.8 million at the end of the third quarter of FY2011. The current distribute of long-term debt increase to $171.5 million at the end of the third quarter of FY2011 compared with $191,000 at the end of the thirdquarter of FY2010.The company has also experienced several other issues that contributed to its bankruptcy filing, including large pension funding requirements and union agreements. Approximately 92% of the companys employees are represented by unions and covered by collective talk terms agreements. Furthermore, the company had about 70% of inventory tied to one supplier in an unfavorable contract. The company also had obligations, including the payment of rent on stores that were not s ubleased or leases terminated. The rent expenses for the mostly empty stores were estimated to be substantial next year. All the above factors put the company at a competitive detriment and rendered its business unsustainable in the current scenario. The bankruptcy filing and the subsequent financing will significantly affect the investors confidence in the company.Online retail channel offers opportunities for revenue growth The online retail market in the US is growing at a fast pace and the trend is expected to continue. Online sales contributed to 6% of the retail sales in 2009 and are estimated to contribute 8% of the total retail sales by 2014. Online sales grew by 11% in 2009 compared to a total retail growth of 2.5%. Online sales while offering convenience to customers, also improve a companys margins by cutting down operating costs. AP is well gathered to benefit from the expected increase in online sales. Increasing demand for organic productsNatural and organic food pro ducts segment is one of the fastest growing categories in food retailing. Increasing consumer awareness about health and environmental issues, along with an increasing resistance towards genetically modified (GM) food products and GM farming, has led to a rapid increase in the demand for organic food. According to industry estimates, the organic product sales in the US reached $26.6 billion in 2009, an increase of 5.3% over 2008. Of the total, organic food accounted for $24.8 billion and organic non-foods, the remaining $1.8 billion. In comparison, the total food sales in the US increased by 1.6% in FY2009.The growth trend of organic foods is expected to continue. The company offers over 200 healthy, organic and eco-friendly products under its Green Way brand. The company could leverage its presence to exploit the increasing demand fororganic products.Remodeling of stores will lead to incremental salesAP has been investing in re-modeling its stores to offer a unique shopping experie nce to its customers. These remodeled stores offer an expanded selection of deli, bakeshop, floral, meat, seafood and organics departments and many specialty sections. The Pompton Plains AP store, located in Pompton Plains, New Jersey, besides offering traditional food categories, also introduced new departments including the kids and toddler aisle featuring all the products needed by mothers in one area an enhanced pet selection expanded mens offerings featuring an extensive array of specialty products for men and a special section dedicated to gluten-free packaged products. Apart from offering a wide selection of quality groceries, fresh produce, breads, seafood, and meats, APs new Port Jefferson Pathmark store features a full-service pharmacy department which provides numerous benefits to customers including, all major prescription drug plans including Medicare Part D accepted health screening services complete diabetic supply circle round patient counseling and information ser vice mail order and online prescription replenish and Live Better Wellness club.The new Pathmark is designed with a bright, open layout with modern decor and dyed artwork and signage, further enhancing the overall experience for shoppers. APs Woodcliff Lake AP store offers expansive departments that feature a wide selection of fresh and gourmet foods. This is complemented by a full-service bakery, Starbucks Cafe, floral department and pharmacy, along with a center store department that presents a complete line of specialty items for men, children and pets.The company also re-opened the New parsimony AP store with expansive departments offering a wide selection of fresh and gourmet foods, a full-service bakery and floral department and an expansive center store department with a complete line of specialty items for children and pets. The remodels with redundant departments attract more consumers and offer cross selling opportunities, therefore contributing incrementally to the sal es increase. These additional services will also help the company differentiate itself from its competitors.ThreatsEconomic downturn in US affects consumer spendingThe US, the worlds largest economy, shrank 4.1% from the fourth quarter of 2007 to the turn quarter of 2009. Household spending fell 1.2% in 2009, doubly as much as previously projected and the biggest decline since 1942. The US economy slowed in the second quarter of 2010 as scarcity of jobs eroded consumer spending. GDP in the second quarter of 2010 grew at a 2.4% annual rate less than forecast. Consumer spending, which accounts for about 70% of the economy, rose at a 1.6% pace in the second quarter, compared with a 1.9% rate in the first quarter of 2010. Job gains have been slow to take hold, curbing household purchases.US retail sales rose a meager 0.1% in July 2010 from June 2010, harmonise to industry watchers. In addition, the US economy grew 2.6% in the third quarter of 2010. The World Bank forecasts the US eco nomy to grow at a sluggish rate of 2.8% in 2011. High unemployment rate which is estimated to reach 10%, sluggish wage gains and credit crunch are all expected to keep consumers comparatively cautious. The unemployment rate remained significantly high at 9.4% towards the end of 2010. Rising unemployment further reduces the consumer spending as customers observe unsecured. Thus, slowdown in US economy would depress purchasing power of consumers which could result in a decline in sales of the company.Intense competitionAP conducts its retail merchandise business under exceedingly competitive conditions. Although AP is a large regional department store chain company, it has numerous competitors at the national and local level that competes with its individual stores, including specialty, off-price, discount, and internet and mail-order retailers. Competition is characterized by many factors including location, reputation, fashion, merchandise assortment, advertising, price, quality, service and credit availability. AP anticipates intense competition to continue with focus on pricing. Some of the companys competitors have substantially larger marketing budgets, which may provide them with a competitive advantage. If AP is unable to maintain its competitive position, it could experience downward pressure on prices, lower demand for products, reduced margins, the inability to take advantage of new business opportunities and the loss ofmarket share.Rising labor wages in the US likely to increase the operating cost In recent times, tight labor markets, increased overtime and government mandated increases in minimum wages resulted in an increase in labor costs, which could materially impact the companys results of operation. The Fair Labor Standards Act (FLSA) has increased the federal minimum wage rate in the US from $6.55 an hour in July 2008 to $7.25 an hour in July 2009. This was further increased to $8.25 an hour in July 2010, revising the labor rates for the f ourth year in a row. Many states also have minimum wage laws. If an employee is subject to both state and federal minimum wage laws, the employee is entitled to the higher minimum wage. Increased labor costs could increase the operating costs for the company.

Samsung and the Theme Park Essay Example for Free

Samsung and the writing Park EssayCharles Dhanaraj and Young Soo Kim prep atomic number 18d this case under the supervision of prof Paul Beamish solely to go away material for class discussion. The authors do non intend to deck either effective or ineffective handling of a managerial situation. The authors may have wrapped certain names and other identifying information to protect confidentiality. SAMSUNG has the right to reproduce and use this case for its educational purposes. Ivey Management Services prohibits any form of reproduction, storage or transmittal without its written permission. This material is not c e rattlingplaceed under authorization from CanCopy or any reproduction rights organization. To vow copies or request permission to reproduce materials, contact Ivey Publishing, Ivey Management Services, c/o Richard Ivey School of Business, The University of Western Ontario, Lon tire out, Ontario, Canada, N6A 3K7 phone (519) 661-3208 fax (519) 661-3882 net dismo unt emailprotected uwo. ca. Copyright 1996, Ivey Management Services and Samsung HRDC Version (A) 2002-11-22.In October 1994, Her Tae-Hak, President of Samsungs Joong-Ang Development Company was driveway to his office, past the Yongin Farm field (Farm impose), an amusement complex sprawling all all oer 3,700 acres in the Yongin valley. Her was spearheading a major(ip) drive within the company to position the fundament commonality as one of the worlds leading vacation reanimate towns. His control copy plan called for an inducement funds of about US$300 jillion everyplace the next pentad years, to be internally funded by the Samsung pigeonholing.patronage the booming Korean economy and the increasing demands for leisure attr actions, the global competitive environment of the composition super acid constancy raised several(prenominal) concerns. Should Samsung invest in such an aggressive expansion plan for conjureing area? Was this an attractive indus crusade fo r investment? Her was scheduled for a meeting with the Chairman of the Samsung Group for a formal presentation of the proposal at the end of the month. THE GLOBAL THEME PARK INDUSTRY The early 1990s saw the emergence of base of appendages place as a major source of family entertainment, not just in the fall in States just now around the world.The earliest evidence of a transmission line whither people paid money to be panic-struck was in the early clx0s when several Russians operated a sled depend on with a 70-foot vertical drop. In the afterward- instants 1800s, several understructure pose were set up in Coney Island (New York) in the united States. The stolon bun coaster was set up in 1884, followed by an indoor page 2 amusement place, oceanlion Park. In the 1930s, the amusement diligence had to contend with alternative entertainment offered by the movie signboards as well as setbacks referable to economic depression.However, with the Disneyland Park opening in 1955 in California, the industry was revived and Walt Disney was credited with rhytidectomy the profile, as well as the profitability, of the industry to a upstart height. There was a diverseness of set and attractions, each with a different approach to drawing crowds and showing them a good time ethnic and Education Parks were a remnant of the old-fashioned instance of europiuman common. Such place have formal greens, gardens, and fountains. Generally they incorporated historical and educational exhibits. Outdoor Amusement Parks were small pose that served a metropolitan or regional grocery.These pose featured traditional thrill rides, carnival midways, and near entertainment. Most amusement pose did not have a national to the architecture, rides, and entertainment. Theme Parks were mostly family-oriented entertainment complexes that were built around a bag. Theme lay were larger and had a greater variety of rides and attractions than amusement park. Water The me Parks were a re cent phenomenon, a special type of piece set centered on water activities. Large water park featured flourish action pools, river rides, steep vertical drop slides, and a variety of twisting flume slides.Most of the theme pose were members of the International Association of Amusement Parks and Attractions, which tracked the attending at various theme park. In 1993, north Ameri offer put accounted for 48 per cent of the worldwide attendance, Asian parks 33 per cent, europiuman parks 14 per cent, and Central and South Ameri flowerpot parks four per cent (see Table 1). North America The Walt Disney Company was the largest park chain in the world with three major theme parks in the United States. Time Warners Six Flags Corporation was the second largest with s eve parks disperse out in the United States.Paramount, Anheuser Busch and Cedar Fair were slightly of the other conglomerates who owned theme parks. In mid-1993, Paramount bought Canadas winderland t heme park originally developed by Taft Broadcasting Company in 1981. Despite the mature nature of the industry in the United States, a itemize of theme parks were investing heavily in upgrading their facilities, and extending the theme parks run. 9A96M006 knave 3 Europe In 1980, Alton Towers, a 60-year old park in North Staffordshire (England), comprised primarily of historic gardens, repositioned itself as a theme park by adding a roller coaster and some other attractions.The park was extremely successful within a very short span of time. The success of Alton Towers led to a number of new theme parks in the late 1980s and the early 1990s, including Blackpool Pleasure Beach (England) that featured the worlds tallest roller coaster. In France alone, three major theme parks emerged in the early 1990s Walt Disneys $3 billion Euro Disney, the $150 gazillion Parc Asterix located northeast of Paris, and the $110 one million million million Big Bang Schtroumpf (Smurfs) theme park just north of Metz.Six Flags Corporation and Anheuser-Busch both recently opened new theme parks in Spain coinciding with the 1992 Barcelona Olympics. Asia Tokyo Disneyland was opened in 1983 by Walt Disney as a joystick venture with the Oriental Land Company (OLC). The success of Tokyo Disneyland set off a wave of theme park developments in Asia. OLC and Disney had agreed to open a second theme park, Tokyo Disney Sea in 2001. Ocean Park in Hong Kong, started in 1977, was the largest water park in Asia with an annual attendance of 3. 2 million.Jaya Ancol never-never land, located in North Jakarta, Indonesia, was one of the largest recreation complexes in south east Asia. Dreamland had a theme park (Dunia Fantasi), a waterpark complex, an oceanarium, a golf course, a beach and several hotels. mainland China was a major ontogenesis market. Beijing Amusement park, started in 1981, reported that between 1990 and 1993 revenue enhancements increased over 2,000 per cent and earnings before interest and taxes were up 200 per cent. Over the next cardinal years, 6 regional theme parks were to be developed with a total investment of over $ degree Celsius million. FINANCIAL ISSUES.The theme park business required a large-scale initial investment, typically ranging from $50 million to $3 billion. Depending on the real-estate markets, the follow of the land value itself could be very blue. Theme parks required over 50 acres of land for a full scale development, with some of the theme parks utilizing 10,000 to 30,000 acres. Since accessibility of the park location was a key success factor in the industry, theme park developers chose land sites in a central area which was relatively expensive. Alternatively, they could choose a irrelevant area at a low cost and develop the transportation ne 2rk.In either case, the land development costs be nearly 50 per cent of the overall investment. The amusement machinery constituted 20 to 30 per cent of the total investment, and the works capital requirements took up the remaining 20 to 30 per cent of the investment. The amusement equipment required for the park was as well expensive, most of it 9A96M006 Page 4 9A96M006 going from $1 million to $50 million. Businesses which had an in-house land development expertise or equipment technology had better control of these costs.Many parks periodically added new attractions or renovated existing ones to draw repeat customers. The parks typically reinvested much of their revenue for expansion or upgrading purposes. The economies of scale and scope were significant in the industry. Increasingly, parks got larger and larger to refund more operating revenues. Also, companies had multiple parks to take advantage of the learning curve effects in the management of theme parks and the increased economies of scope. Most of the operating expenses for theme parks (about 75 per cent) were for personnel. inlet fees1constituted over 60 per cent of the total revenues of a theme park, while the rest came primarily from food, beverage, and ware sales. To handle the admissions revenue a centralized slating system was generally preferred. An all-inclusive admission footing entitled customers to as many rides and shows as they desired. This approach led to commodiouser stays at parks resulting in increased food and beverage sales. Another centralized admission method was to sell ride/show tickets in sets or coupon books (i. e. , five coupons for $5, but 12 coupons for $10).Both approaches to centralized ticket sales minimized the number of employees handling money throughout the park resulting in improved faculty and control. Walt Disney Companys financial profile was generally utilize to assess the return on investment within the industry. The revenues for the theme parks segment of the Walt Disney Company were at US$2. 042 billion in 1988 and grew to US$3. 4 billion in 1993. Operating income was pegged at US$565 million in 1988 and US$747 million in 199 3. The return on equity for the Walt Disney Company was pegged at 17 to 25 per cent. peerless of the analysts remarked on the theme parks segment of Walt Disney Theme parks are going to construct increasingly unchanging and annuity homogeneous, with the ability to generate $700 to $750 million in cash flow a year. There were signs of declining profitability in the U. S. operations, since the market was maturing and the competition was getting more intense. Tokyo Disneyland, the lacquerese operation, was growing and profitable. However, EuroDisney, the European theme park, was a disaster for the company with huge deprivationes since operations began in 1992. The company was expecting a break-even in 1995. 1. entranceway fees varied from $5 to $25 depending on the location and reputation of the park. Page 5 9A96M006 MARKETING AND neighborly ISSUES The traditional appeal of theme/amusement parks was to preteens, teens, and young adults. Changing demographics were causing most park s to think in terms of a broader market, particularly families, corporate groups, and even senior citizens. There were five major market segments for theme parks Local Families people within a days drive who visited mostly on weekends. Most parks foc employ exclusively on this segment, which generally constituted 60 to 75 per cent of the attendance.Childrens Groups schools, churches, recreation agencies, scouts, and other groups who make a motioned in buses on summertime week eld. The Evening Market teens and young adults who came for entertainment, concerts, and romancing at night. Corporate Groups included consignment sales and group parties. Tourists a substantial market for large theme parks in destination areas such as Florida. customer satisfaction was a critical make out in theme parks management. Successful park managers used immense marketing research to understand their customers and too spent a lot of effort in promoting the park.To reach the diverse group s, parks emphasized increased beautification and the range of entertainment and food profits offered. Theme park managers were functional with tour operators and authorities tourist promotion boards to draw the tourist crowds to their parks. Theme parks spent about 10 per cent of their annual revenues for advertising. Radio, newspaper, yellow page (telephone book) advertisements, family and group discounts, and direct mail were the most common promotional methods. Among large theme parks, television advertising was an excellent visual average to capture the excitement.Some parks expended a major portion of their advertising budget for television promotion. An issue for the theme parks industry was the seasonal and intermittent nature of the business. Theme parks attendance peaked(p) in the spring/summer and in the school holidays. Even in the holiday season, bad hold could adversely affect the attendance. The seasonal fluctuations put a lot of strain on the theme parks managem ent. During the peak season, the requirement for employees shot up quite often the management had to find employees beyond the home(prenominal) territory and provide housing for out-of-town employees.The sudden surge in demand often clotted the service systems such as transportation, building management, etc. It was the availability of leisure time and a luxuriously discretionary income that drove the commercial recreation industry. Economic downturns had a severe impact on industry revenues. Also, consumers could substitute a visit to theme parks with other modes of entertainment. Consumers substituted products/services in order to try something new, different, cheaper, safer, better, or more convenient.Free Page 6 admission parks and beaches, camping trips, or even video-movies at home were competing options for leisure time. REGULATORY ISSUES Government regulations were quite strict because of the across-the-board land use, and the strength for serious accidents. Licensing r equirements and methods of ascertaining operational expertise to ensure visitors natural rubber varied from country to country. In some countries, where land was scarce, governments limited the area of the land that the developers could take up for theme parks. Park administration was dependent on the government for utilities such as power, gas and water.A typical period required for arranging government approval for a theme park could be as high as two to five years, depending on the country. A related issue was insurance premiums. Given the likelihood of accidents in the amusement parks and the possibility of serious injury, 100 per cent insurance coverage was a must in the industry. Although safety records in the industry were very good, the insurance premiums were extremely high in some parts of the world, particularly in the United States. However, the large premiums often drove the small players in the industry out of business. Countries in Asia did not have this handicap.TEC HNOLOGY ISSUES The theme park industry had three classes of inputs the building and construction services that provided landscaping and architectural support the hardware providers that supplied amusement machinery and the software providers that supplied management know-how. The amusement machinery industry had large over the years. Most of the large drives, such as the Hurricane or the Giant Wheel, were manufactured in Japan, Europe or the United States. There were fewer than 10 suppliers who were capable of developing quality machinery, such as DOGO of Japan, HUSS of Germany, and ARROW of the United States.Most of these suppliers worked globally, and the machinery were custom designed and made to order to fit the particular market and environment conditions. There were a large number of suppliers for the smaller machines, and quite often, they could be manufactured domestically. specific simulators for amusement purposes using proprietary technology were being developed by tech nology-intensive companies such as Sega Japan and Simex Canada. The park management expertise commonly referred to as the software in the industry was not substantially forthcoming. Leading theme park companies, such as Walt 9A96M006 Page 7 9A96M006.Disney Company, charged huge licensing fees which were over 10 per cent of the revenues. Also, they were very selective in choosing word ventures in other countries. Disney went through an extensive market analysis and partner profile analysis for over three years in Europe before finalizing the venue in France with the joint venture partner. Mr. Yu, director-in-charge of the cultivated land project, commented We compulsioned to go for a joint venture with Walt Disney Corporation. hardly they somehow were not interested in Korea. So we had to go it alone. It takes a pine time for theme park managers to develop service delivery of world class quality.Although Walt Disney offered a number of educational programs to train other manag ers in the Disney Management style, the know-how seemed to be too sophisticated for the competitors to emulate. Virtual universe (VR) was increasingly becoming a highly lucrative mass-market entertainment phenomenon. A new entry that was due to open in July 1994 was Joypolis, a $70 million interactive theme park owned by Sega Enterprises, with projected revenues of $37 million per annum.Sega had plans to open 50 such parks in Japan, and was negotiating with Universal Studios, California, for its archetypal U. S. installation of a VR theme park. YONGIN FARMLAND Yongin Farmland (Farmland), opened in 1976, was the first amusement park in Korea.It was managed by Joong-Ang Development Company, one of the wholly owned subsidiaries of Samsung with a mission to provide a better quality of life through healthy open-air leisure activities. In addition to the Farmland management, Joong-Ang was responsible for the building maintenance at all Samsungs offices, as well as maintaining two golf c ourses. Farmland was located about an hour south of Seoul, and was owned by the Korean conglomerate, the Samsung Group (see Exhibit 1).The 3,700-acre attraction began as an agricultural center to demonstrate how passelous land could be used productively for growing food products. Mr. Lee of Joong-Ang said, At that time, we had trouble raising adequate food for our country. We created a model farm of how to work with an abandoned mountain by building a pig farm and planting fruit orchards. We spayd the land use gradually through the years as we added entertainment elements. The trigger-happy Safari was opened in 1980, and the Rose Festival, an impressive rose garden filled with 6,000 rose bushes of 160 different varieties arranged according.Page 8 9A96M006 to various themes, opened in 1985. To provide for winter entertainment, the sledgehammer Slope was opened in 1988. A drastic departure from the traditional theme parks was taken when Yongin Farmland opened a Motor-Park in lat e 1993. The motor park operations incurred a loss in the first year of operations (see Table 2 for the profit and loss statement). In November 1993, Her took over as the President and Chief Executive Officer of the Joong-Ang Development Company. Prior to his assignment to Joong-Ang, Her was the CEO of Cheju Shilla, a luxury hotel on Cheju Island in Korea.Her was credited with developing a world-class sea resort at Cheju Shilla which surpassed in customer service established hotel chains such as Hotel Hilton. Since taking over the reins of the company, Her had focus on improving the customer satisfaction aim at Farmland, and had also been developing the plans for Farmlands expansion. One of the major challenges was to see how the expansion plans for Farmland would match with the corporate strengths of the Samsung group. Her was aware that earlier attempts by previous management to expand Farmland had not met with the approval of the groups Chairman.There were concerns in many quart ers that the theme park industry did not fit well with the high-tech and the global image of the Samsung Group, and also that the profitability might be very low. The theme park industry was noneffervescent in its early stages in Korea, and had a history of less than two decades. However, indications were that the industry was growing globally, with more players entering. Nevertheless, some of the managers did not see profitable growth opportunity in the theme park industry. One of the managers in Joong-Ang said Theme parks may be a growing industry worldwide. That does not mean that it should be so in Korea.In Korea, we work five and a half days a week and we have annual vacation of only four to five days a year. Where do Korean people have time for theme parks? FARMLAND CUSTOMERS Traditionally, Farmland focus on the local customers. Most of its customers came from surrounding areas within two hours drive (see Table 3). The economic growth in Korea had been a major driving force in industry growth (see Exhibit 2). Despite the early stage of growth in the Korean leisure industry, there were six theme parks in the Seoul area including Farmland. Most notable among these were Lotte World and Seoul Land.Lotte World, started in 1989, prided itself on having the worlds largest indoor theme park with adjoining hotel, department store, shopping mall, class village and sports centre. Commenting on Lottes strategy, one of the managers at Lotte World said Page 9 9A96M006 We focus on a segment different from Farmland. Since we are located downtown, we cater to a clientele who want to drop by for a shorter period. Typically, we get office people who want to loosen up after a hard days work or couples who would like to spend some time in a romantic environment. Seoul Land, located near Seoul at Kyungkido, was also a key competitor to Farmland.With attendance at 3. 37 million, Seoul Land ranked twenty-third in the Top 50 theme parks worldwide. Mr. Woon, one of the manag ers at Seoul Land, remarked The park has a good reputation for quality special events and the people enjoy coming to the park because of its fresh air, lovely scenery, and easy access. Despite the competition from other parks, Farmland had the highest growth rate within the Korean industry (Table 4). The seasonal nature of the theme park industry affected all the competitors, not necessarily in the same pattern (Table 5). PRICING Farmland was also going through a major change in its pricing structure.The pricing strategy in place (Table 6) was a combination of pay-as-you-go and pay-one-price system. Users had the option of gainful the admission fees and buying separate tickets for rides (pay-as-you-go), that were available as coupons (Big 5 for five rides). Membership in the park was available for a price, which provided free admission for a year. The other option was to buy a base on balls (termed as pay-one-price) that provided admission as well as unlimited rides for one full day. The passport users were estimated at 17. 4 per cent of the attendance in 1993, and the membership holders were estimated at 75 per cent.Farmland wanted to pommel gradually to the pay-one-price schema, which was the most common pricing scheme in the leading markets. The prices across the major competitors were comparable. In 1993, average admissions and ride fee per person was 6,667 won in Farmland, 7,279 Won in Lotte World, and 6,494 Won in Seoul Land. Theme parks also monitored the amount a visitor spent on food, beverages, and souvenirs. In 1993, average percapita expenditure on food and beverage in the three parks was 2,874 Won in Farmland, 2,017 Won in Lotte World and 1,804 Won in Seoul Land and intersection sales per capita were 996, 1,319, and 722 Won, respectively.Page 10 9A96M006 OPERATIONAL ISSUES While there was some indication that the Samsung Group would be willing to consider a proposal for expansion of the Farmland, Her had to contend with a number of operationa l issues at Farmland. Based on discussions with a number of managers and customers, Her had some idea of the various issues involved in the operation of Farmland. Transportation One major issue was accessibility to the park. Yongin was 60 kilometres south of Seoul, and during peak hours, it took as long as two hours to drive from Seoul to Farmland due to traffic jams.One resident who lived very close to the Yongin area said Actually, it should take only 15 minutes to drive from my home to Farmland. But the traffic jam is so intense that if I go to Farmland, it may take almost an hour of crawling in the traffic. Thats one main reason why I have not visited it so far. One of the managers in the marketing group commented on the critical nature of this problem In Korea, we work five and a half days a week. Most of the time on the working days the travel time is long. All the house chores have to be done only on the weekends.Given this fact, it is only to be expected that Korean customer s would not be so keen to travel on a Sunday or on a holiday if the traffic is heavy. However, many managers in Joong-Ang believed that the accessibility problem was only a temporary issue. Mr. Yu, Director of Personnel at Joong-Ang, commented Travel difficulties are part of our life in Korea, confrontn the small land and the large number of people. The government has plans to constitute the subway up to Yongin, in which case Farmland would have a subway terminal, which will provide a lot of convenience to our people.This was echoed by one of the visitors to Farmland, who commented I hate sitting inside my house all day. I have to get out somewhere. Seoul is too crowded and I would like to go to some place to breathe some clean air. Beaches are closed most of the season, and Page 11 9A96M006 if I want to go for some mountains or Pusan, it is too far away. So, I dont mind driving down to Yongin to spend a relaxed day. I will skip the race hour by leaving early from the park. Parki ng Another related issue was parking. Farmland had tidy parking space for about 8,000 cars at one time around the four sides of the park.One of the managers who conducted an extensive analysis of the parking space said What we have now is more or less enough for the time being. We have enough space for about 8,000 cars and at four people per car we can accommodate about 32,000 people. If we assume the lot turning over at 1. 7 times a day (at an average stay of six to eight hours), we can handle a peak attendance of 52,000. But the real problem is the seasonality. On peak days, we may get more visitors and quite often people may spend more time. If we are going to expand, this will be a major bottleneck.Part of the expansion plan included augmenting the parking spaces and also providing a Park and Ride scheme for visitors so that they could travel comfortably from the various car parks to the entrance. Environmental Issues Expanding Farmland meant taking over more of the land mass a vailable in the Yongin valley. A farmer living in the Yongin valley, who was vehemently opposed to the expansion ideas, said They (Samsung) just want to expand their business. But they dont lay down that one of the problems with cutting down the trees and leveling the ground will cause potential flooding in the surrounding region.This will damage all our crops. How will they compensate us? Organizational Inertia It was also a challenge to introduce a dynamic environment within the Farmland organization. In order to succeed in the industry, Farmland had to go through a major reorientation in its organisational style. Farmland had initiated customer satisfaction surveys recently and it was brought to the attention of the management that the customer satisfaction levels were lagging base the key competitor, Lotte World. As one of the marketing managers noted Page 12 9A96M006.Repeat business is very important to our survival. If we dont satisfy our customers, they wont come back and w e wont have any business left. But, it is not in our Korean nature to smile at strangers. We are very serious people. So it becomes all the more difficult to get the type of service you can see at Disneyland. Mr. Yu, who had pioneered a number of changes within the organization, recalled one event which demonstrated the type of organizational inertia the management had to deal with Previously we had the head office at Seoul and we were managing the Farmland by remote control. We were faxing information and directives up and down. But I somehow did not see that this would be the best way to work. I insisted that the head office had to be located where our products are and only after much persuasion could we move to this place. Among other things, management was also considering a change in the enlisting process. Traditionally, Farmland had gone after the academically best graduates and students, which was the standard practice at Samsung. The management mat up that they needed more service oriented people.The management wanted to recruit more female workers, the level of which at that time was below 25 per cent, but anticipated problems since most Korean women stopped working after marriage. Mr. Yu said I think times are changing. For that matter, even if we have a high turnover, it may be good for us since fresh blood always brings in fresh ideas and we would be able to preserve some dynamism in our organization. THE MASTER PLAN Based on a detailed survey (Table 8) and tentative analysis, the management had put together a master plan to invest about $300 million in revamping Farmland.There were also suggestions of changing the name to provide a better image of the company. A master plan, for a phased investment of about $300 million dollars over the next two years, was being developed. Everland, Green Country, and Nature Land were some of the names proposed for the new mountain resort. Included in the master plan were A waterpark to be built adjacent to the existing theme park, at an estimated cost of US$140 million, with a Caribbean theme. A Global Fair, a fun-fair indicative of the major countries in the world, at an estimated cost of $85 million.Page 13 9A96M006 Expansion of existing zoo, and parks including a night time laser show and a fable fantasy garden at an estimated cost of $50 million. The funding would come mainly from the parent, Samsung Group, and also through corporate sponsorship of the other companies within the Samsung Group. The master plan also indicated that if the first phase was successful, a second phase of developing a resort town in Yongin, with luxury hotels, golf courses, and resort accommodations would occur. (Exact budget for the second phase was not available at that stage.)A number of managers within the company who were closely involved in developing the master plan felt strongly that the theme park expansion was not only a priority but also would be a profitable venture. The General Manager of the planning group commented What we want to create is a destination resort town and a residential community where people can come, relax and enjoy themselves in a low-stress environment. Samsung employs more than 180,000 people here in Korea. This will give them a place to come and be proud of. There will be plenty here for all members of the family as they grow.We feel it is time to change from a farm-oriented name to a name which represents our new mission, which is to create a zeal for long-lasting life that is combined with the harmony of nature. If this plan is approved, we will become the prototype destination resort town in the entire world. We have visited them all, and when were finished, there wont be any better Her wanted a comprehensive analysis of the theme park industry to ascertain the profitability of the industry. He wanted to present to the chairman of the Samsung Group a chiseled rationale why Samsung should invest in this industry.The Richard Ivey School of Busines s gratefully acknowledges the generous support of The Richard and blue jean Ivey Fund in the development of this case as part of the RICHARD AND JEAN IVEY FUND ASIAN miscue SERIES. Page 14 9A96M006 Table 1 TOP 50 AMUSEMENT/THEME PARKS ecumenical (1994) Rank 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 Park Location Tokyo (Japan) DISNEYLAND MAGIC KINGDOM of Walt Disney World, Florida, United States DISNEYLAND, Anaheim, California, United States JAYA ANCOL DREAMLAND, Jakarta, Indonesia.EPCOT at Walt Disney World, Florida, United States EURO DISNEYLAND, Morne La Voltee, France YOKOHAMA (Japan) HAKKEIJIMA SEA PARADISE, Japan DISNEY-MGM STUDIOS, Walt Disney World, Florida, United States UNIVERSAL STUDIOS FLORIDA, Orlando, Florida, United States BLACKPOOL (England) PLEASURE BEACH, England YONGIN FARMLAND, Kyonggi-Do, South Korea UNIVERSAL STUDIOS HOLLYWOOD, California, United States SEA WOR LD OF FLORIDA, Florida, United States LOTTE WORLD, Seoul, South Korea CHAPULTEPEC, Mexico City, Mexico HUIS TEN BOSCH, Sosebo, Japan TOSHIMAEN AMUSEMENT PARK, Tokyo, Japan KNOTTS BERRY FARM, Fuona Park, California, United States SEA W.