Myths and Realities Essay -- Philosophy Learning Essays

Myths and Realities At least since the 1990 publication of Senge's The Fifth Discipline, the concept of the learning organization (LO) has been promoted as a way to restructure organizations to meet the challenges of the coming century. What are learning organizations-in theory and in practice? Are they a real solution or the latest in a series of reform fads? The myths and realities are explored in this publication. Getting a Grip on the Learning Organization Of course, there is not yet a consensus on the definition of a learning organization. Any type of organization can be a learning organization-businesses, educational institutions, nonprofits, community groups. Some authors agree that LOs start with the assumptions that learning is valuable, continuous, and most effective when shared and that every experience is an opportunity to learn. LOs have the following characteristics (Calvert et al. 1994; Watkins and Marsick 1993): They provide continuous learning opportunities. They use learning to reach their goals. They link individual performance with organizational performance. They foster inquiry and dialogue, making it safe for people to share openly and take risks. They embrace creative tension as a source of energy and renewal. They are continuously aware of and interact with their environment. Senge's "five disciplines" are the keys to achieving this type of organization: personal mastery, mental models, shared vision, team learning, and systems thinking. According to Senge, the fifth, systems thinking, is the most important and underlies the rest. Of course, in a sense "organizations" do not learn, the people in them do, and individual learning may go on all the time. What is different a... ...(ERIC No. EJ 483 293) Smith, G. J., and Stodden, R. A. "Restructuring Vocational Special Needs Education through Interdisciplinary Team Effort." Journal for Vocational Special Needs Education16, no. 3 (Spring 1994): 16-23. (ERIC No. EJ 482 768) Solomon, C. M. "HR Facilitates the Learning Organization Concept." Personnel Journal 73, no. 11 (November 1994): 56-66. Watkins, K. E., and Marsick, V. J. Sculpting the Learning Organization. San Francisco: Jossey-Bass, 1993. West, P. "The Learning Organization: Losing the Luggage in Transit?" Journal of European Industrial Training18, no. 11 (1994): 30-38. (ERIC No. EJ 497 198) West, W. "Learning Organizations: A Critical Review." In Proceedings of the Midwest Research-to-Practice Conference,edited by L. Martin. Madison: University of Wisconsin, 1994. (ERIC Document Reproduction Service No. ED 378 359)

Wisma Atria

Breadbasket Private Limited marks Its virgin birth at Parch Bugs Junction (retail outlet) on 1st July 2000. With a remarkable period of five months, on December 2000, it ventures into its second venue at Novena Square and further enterprise onto its third outlets closer to the HAD heartlands, Junction 8 shopping centre. Breadbasket has established a firm foundation In local market with Just three years, It Is a listed company on March 2003. It has adopted 4 type generation concept design for retail outlets since year 2000 to 201 2, however there Is a constant In all outlets which is the transparent open kitchen.With just a piece of clear glass that separate the customers from the chefs, it is an apparent indication of its quality of the breads that are served fresh daily. (Breadbasket Group Limited, 2014) Since 2012, breadbasket team diverts its attention In strengthening their core competencies, broadening Its business to 15 countries, Including Mainland China, Hong Kong and Indones ia (737 bakery outlets, 58 food atria and 41 restaurants) Since its foresight in expanding into international market, it has initiated various house brand such as Breadbasket, Toast Box, They Mom Chant, Food Republic, Rampantly andThe Icing Room; and also franchises Din ATA Fun from Taiwan and Carol's Jar from USA. (Breadbasket Group, 2012). With Its long achievements lists. Breadbasket Group Limited Is a creditable International company who has great foresight in anchoring its stand beyond Singapore. Political Breadbasket Is Initiated by a Singapore named Dry George Queue who sees the stability of Singapore In her economic and development. Singapore Is one of the lowest corporate tax rates and smooth growth In business among Salsa countries. Singapore Economic Development Board, 2014) Economic According to the statistic reports on its refined annual breakdown, affirming Its Investor and public that It Is a stable company and has been consistently making increasing profit over the y ears. And, it has managed its cash flow well by investing in property, plant, equipment and joint venture. However in the recent years the dividends paid out to the shareholders of the company have fluctuated which may be due to the following factors such as the stiff competition between the many bakery stores blossoming over the years, short and long term loans that the company has. Breadbasket Group Limited, 2012) Social brands, four hundred and forty-eight outlets spreading over thirteen countries in South East Asia and Middle East. (Breadbasket Group Limited, 2014) Looking into microscopic aspect of the business; on the brand breadbasket in Singapore as it is one of the driving revenue for the company. To date as of 17th June, there are six branches in the north and west zones respectively, seven in the east and south zones respectively and fifteen branches in the central zones.It affirms the strategy that breadbasket Group Limited display to focus on the prime areas in the cent ral zones where the higher income working class and tourists are, as for the remaining zones breadbasket is situated at the heartlands, which are more populated. Breadbasket Group Limited, 2014) Technological Living in a technological advance era, Breadbasket has keep up with the trend by having well- furnished website and faceable page that provides information in regards to the company and their products.Breadbasket is constantly making sure that they are on tracks with the latest trend, for example in line with the world cup 2014, it launch a series of bread with innovative names such as Go Goal, Surreptitiously, Dillon and Supersets. (Breadbasket Group Limited, 2014) Environmental Breadbasket has most of its ingredients imported from Japan, Australia, New Zealand, Malaysia and Indonesia. Despite the high cost and short lifespan of the individual products, the top notch quality of ingredients give robust quality assurance and give the consumer value for money products.They also i ntroduce seasonal products such as Sahara flower from Japan, chestnut from China and strawberry from Korea. (TRY EMERITUS, 2014) Legal Breadbaskets signature floss bread which has sweep Singapore by storm when it first launch, does not seem to have any copyright protection. However breadbasket the name of the brand and its logo rights are possess by Breadbasket Group Limited. The threats of new entrants The capital cost for a bakery in reference to its the production and equipment cost are low which eventually set a low barrier for new entrants.As there are no copyrights to the individual created breads, imitation to the variety breads are somewhat effortless. Products in the bakery industry are facing very substantial threat from F that caters to light snacks take away offering a different taste for the consumers to replace breads. The lower pricing for these light snacks remain very alluring. Suppliers The basic elements to make a bread are flour, eggs and wheat which are relative ly cheap for any buyers to purchase. The quality of the products do not differ much across suppliers hence it creates more opportunities for new entrants to enter and compete with breadbasket.Due to this, breadbasket is not able to increase the price of its products. Customers Customers are spoilt with choices to unprecedented number of bakery stores. In Just a short walking distances, customers are exposed not Just to bakery stores but also light snacks stores such as Jellybean, Mr. Bean, Old Change Eke etc which are relatively similar in term of the price. Intensity of Rivalry With the low production cost; Breadbasket has very intense rivalry in the market with Akers stores such as Four Leaves, Prima Deli Bakery, Coddle, Swiss bakery and individual neighborhood bakery.Every single one of them have different innovative strategy to sell their products however the breads' taste and quality do not differ much from each other. Conclusion Breadbasket has been constantly expanding its bu siness, however that would mean an increase of cost in rental in particular in the prime areas and manpower in the midst of the intense rivalry. It will result in the decrease in its return of its profit revenue and relatively low sustainability in the long term. They might need to insider to either closing or lowering the scale of branches that have lower profit margin.Nevertheless we need to applaud on breadbasket for its continual effort in creating new products ( 10 products every 4 months ) and give a hearing ear to the public their prefer choice of breads which are evidenced in its new launch of people's choice Floss Black Pepper Crab Bun (2014). It has also portray as a socially responsible company by introducing the Panda look alike buns where all the proceeds go to the terror of the 7. 8 magnitude earthquake in China. Fresh ideas for their retail outlets together with its open kitchens to showcase the reduction and skills of the bakers.It has also been investing increasing amounts of money on purchasing of property, plant and equipment to keep up with constant stiff competition. Lastly, Breadbasket Group has a very capable and experienced director Dry George Queue who has more than thirty years of F experiences to oversee the whole business and employing diversification strategy in expanding and franchising various brands besides breadbasket. With George and his team competency to keep up with the trends and foresight for fresh business opportunities are critical to the continual success of breadbasket.

Moral Courage in Health Care

Moral Courage in Health Care Abstract This review critically analyzes the arguments placed by Colonel J.S. Murray, in his article Moral Courage in Healthcare: Acting Ethically Even in the Presence of Risk.   Murray argues that the nursing professionals used to face complex ethical dilemmas in their workplaces. According to him, moral courage instills ethical responsibility on them for taking action when confronted with ethical issues. However, nurses should not confuse moral courage with moral arrogance. The Code of Ethics for Nurses  provides the differences between public and private morals, and warrants wholeness of character in nurses. They must integrate the personal and professional values in the system. The ethical values are shared across different cultures in the form of honesty, integrity, justice, respect, dependability, empathy, compassion, and courage. Strategies for improving moral courage, embrace open discussions about the ethical principles and systems, case studies, and role modeling, as well as reh earsals. The guidelines provided by Dr. Murray are exceptional, which can mold the nurses into leaders with strong ethical values, integrity and courage. Introduction In the journal article, Murray, J.S., indicates that the healthcare professionals who are working in clinical practice, education, research, and administration usually encounter ethical dilemmas in their workplaces. According to him, inadequate staffing in delivering patient care, cost-effective measures, unification of healthcare organizations, and the failing leadership are the major elements that escalate ethical dilemmas faced by the nurses. Here, moral courage involves the readiness to speak out, and doing what is right, though vulnerable to risk. Murray unequivocally affirms that moral courage is the capability of the individual in triumphing over fear and standing up for values and ethical obligations, that one cherishes. This is evident in the principles stipulated by the American Nurses Association (ANA, 2001)  Code of Ethics for Nurses  for practicing professional nursing. Nurses with moral courage have the pre-notion about the undesirable consequences for their actions ; yet they realize that adhering to integrity is more important than compromising with the consequences. Summary To address his arguments, Murray illustrates a case study of Emily, who was a novice nurse, employed at an academic medical center, the name unrevealed. Her peers respected her for her honesty, meticulous behavior, and strong work values. During the practice, she was confronted with a serious ethical issue in her workplace, and knowing that her mentioning about it would bring severe hostilities from the superiors, she sought guidance from the nurse Ethicist of the medical center. The guidance and support received from the Ethicist gave her courage to stand firm and stay determined in doing what she thought right. Likewise, healthcare institutions can insist for moral courage and ethical principles in their position descriptions, performance evaluations, and strategic planning programs. Moral courage is a great trait found in individuals, who overcome fears of adversities and personal risks in acting upon for the sake of others during ethical dilemmas. Moral courage is the pinnacle of ethical behaviors embodied in commitments to ethical principles, in spite of potential risks, such as defamation, emotional anxiety, retaliation, isolation, and loss of employment. For the ancient Greeks, courage meant only the response to physical hazards, but, for the contemporary scholars it is one’s commitment to stand for his or her ethical beliefs, which is a vital virtue for the nursing professionals, today.   However, moral courage is different from moral arrogance, as the latter involves only the individual’s personal moral judgment about a controversial issue, though others think differently. Moral courage occurs when individuals adhering to ethical standards overcome their conflicting values. This is evident in the case of Emily, who refused to document the ungiven medical care, in spite of the repeated insistence of the administration. Conclusion/Review This article has highlighted the critical need for healthcare professionals, who understand the importance of moral courage in the workplace, and are willing to take action when the ethical values are being compromised. Providing awareness about moral courage and its importance will help educators, researchers, and leaders in healthcare confront ethical challenges. Therefore, it is vital for the healthcare professionals to value and support their peers, who show courage against unethical behaviors. The strategies for improving moral courage include embracing open dialogue about ethical principles, case studies, and role modeling, as well as ethical and moral rehearsals. The guidelines provided by Dr. Murray are exceptional and executable, as they intend to make the nurses, the leaders with strong ethical values, integrity and moral courage.

Financial Analysis of SNAG Ltd - 1003 Words

Financial Analysis of Snag Ltd Table of Contents TOC o 1-3 h z Caption,3 HYPERLINK l _Toc342820944 1. Executive Summary PAGEREF _Toc342820944 h 3 HYPERLINK l _Toc342820945 2. Financial Analysis PAGEREF _Toc342820945 h 3 HYPERLINK l _Toc342820946 2.1 Profitability PAGEREF _Toc342820946 h 3 HYPERLINK l _Toc342820947 2.2 Efficiency PAGEREF _Toc342820947 h 4 HYPERLINK l _Toc342820948 2.3 Liquidity PAGEREF _Toc342820948 h 4 HYPERLINK l _Toc342820949 2.4 Capital Structure PAGEREF _Toc342820949 h 5 HYPERLINK l _Toc342820950 3. Summary of Findings PAGEREF _Toc342820950 h 5 HYPERLINK l _Toc342820951 References PAGEREF _Toc342820951 h 6 HYPERLINK l _Toc342820952 Appendices PAGEREF _Toc342820952 h 6 1. Executive Summary Snag Ltd share price has declined significantly, falling from $0.99 in 2010 to $0.43 in 2012. The fall reflects firms financial performance. Profitability has sharply decreased, the net profit was only 1.58% in 2012; lower than equivalent ratio for the worst 25% of firms. Efficiency measures also indicate a decline in performance, reflecting the poor net profit, including declines in the return on equity and assets. Ratios indicate poor inventory and asset turnover, and poor liquidity, but these do not appear to be the cause of the current problems. The increasing direct costs and the disproportionately high increase in the overhead costs appear to be the main problem. 2. Financial Analysis Snags Ltd share hasShow MoreRelatedPEST Analysis for target canada Essay1442 Words   |  6 Pages Case 1 PEST analysis for Target Canada MGMT 6057 Contemporary Business Management Fanshawe College Submitted To: Albert Knab Submitted By: Deshana Shah Student Id: 0725963 Date: October 18, 2014 Target Canada gets to be favoured shopping goal from retail chain roots. First and foremost Target store was secured in 1962. 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The Mill By John Stuart Mill - 1537 Words

John Stuart Mill was a famous philosopher and historian. Jeremy Bentham who advocated for utilitarianism just like Mill influenced much of Mill’s works. Mill’s works were also greatly influenced by Jeremy Bentham’s brother, Samuel and Mill’s father, James. Mill had many early works prior to his writings on utilitarianism. Mill discusses how to determine right and wrong, but this seems to be an ongoing conflict. Mill believes that in order to prove goodness you must have ethical morals lined up in order to honor that goodness. Mill also focuses on morality and goodness being proved by legislation and welfare. Mill feels that individuals should practice morality based upon laws and receive proper punishment if they do not obtain goodness or happiness in the appropriate manners; unjust actions should result in consequences. Mill argues that actions should be done based upon not simply the happiness of yourself, but the happiness that will result in others. 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Accounting Risk & Insurance

Question: What is Risk Insurance?Explain Financial Statements on Insurers. Answer: Introduction In this assignment risk management will be analysed, the financial statements of the insurers and evaluating policies suitable for business. The course will focus upon Takaful insurance as a means of alternative to conventional insurance policy. In conventional insurance the risk is transferred to the insurance company i.e. insurer from the policy holder i.e. insured in relation to the premium paid. It has uncertainty associated i.e. gharrar as it is impressible by Islam (Yakob et al.). The loss and compensation are uncertain here as it is a form of gambling (maisir) as insurer is paying the amount i.e. premium. The funds are invested as bonds, securities etc. attracting fixed interest. It contains usury ( riba) that is prohibited in Islam. The profit generated belongs to the shareholders and the insured is not getting the payment after the policy period expires. Takaful is not sharing risk but, mutual cooperation is shared by individuals having same pool by having only takaful manager. The elements of gharrar, riba and maisir are eliminated by replacing it with conditional donations (tabarru) done for a good cause. The contribution is towards brotherhood in the spirit of purity (Neea) and investments are made into non-interest funds. At the end the surplus generated is returned proportionality as per the contribution made at the end of the accounting period (Archer, Abdel Karim and Nienhaus). 1. Evaluate Upon Risk Management on Its Importance Risk is a chosen probability action or process that leads to undesirable outcome and traditionally risk was associated with uncertainty of the events taking place in future. As stated by IFSB Chairman and Saudi Arabian Monetary Agency (SAMA) risk is not associated with religion. Risk in Islam in divided into two aspects unique and generic risk whereas, generic risk is having credit, market, oprtational and liquidity risk. Alternatively, unique risk includes shariah non risk, equity investment and commercial risk. In Islamic industry the most close to Takaful industry is unique risk. Risk management in insurance is used in terms of pure risks that may be only restricted to insured risks (Dionne 147-166). So, when an insurer speaks about risk management it deals with finding the ways of improving or reducing the potential loss of risk that is being invited or on the verge of invitation. In terms of management from Islamic perspective the life of human being is organic with no differentiation in religions, secular and matters. They are guided by the principles of shariah as men are not responsible and accountable for their actions. The areas of Takaful insurance cover investment management, human resources and compliance. In Takaful industry it helps in identifying the Takaful operator losses and using the most appropriate for treating it effectively. They are observed by imposing conditions on them regarding outsourcing of the management funds for viewing its effectiveness by managing it effectively within risk management framework (Yusof, Lau and Osman 1). This is done along with Chief Risk Officer (CRO) liable for seeing the risks like operational risk by making it in compliance with Shariah. The role played by CRO is to identify the risk by taking integrated measures for it. The risk management by Shariah is a system to control and monitor the assessment of Shariah and in order to manage the risks various objectives are guiding Takaful insurance. They are: Having a achievable rate of return on investments if it is possible The continuity should be there for their going concern The safety of Takaful fund is necessary by safeguarding it unfortunate conditions To ensure that the fund generated is able to pay as per obligations and claims The risks associated with Takaful operators are of three types- financial, operational and business (Aris and Tapsir). 2. Explain Financial Statements on Insurers A financial statement is a formal record that contains the financial activities and positions in a business, entity or person. The information is presented in a systematic manner that is easy to understand thereby discussing and analyzing it effectively. The various kinds of financial statements in respect to insurers are: Balance Sheet It is also refereed as statement of financial position that contains the information about the organization liabilities, assets and owners equity at a specific time period. It represents the financial position at the end of financial quarters (Fraser and Ormiston). The advantages are: The amount of capital can be known by ascertain it in business The financials are disclosed by showing the assets and payment paid in terms of liabilities The liabilities and assets have to be compared by generating the progress in the business It discloses the property of owner in his interest In order to manage the business effectively various ratios have to be generated that have to be effective in nature The disadvantages are: The assets are not represented in their true form in balance sheet as historical cost is attached to it. This provides inaccurate reflection of the market value (Guthmann) The non-monetary use of assets is not considered such as honesty, skill, loyalty of workers and intelligence. The current assets provided are not on their estimated value so in balance sheet it is not representing its true financial position. Income Statement This is done in respect to specific time period of business that includes income and expenses with a time span. The information is generated on ROI, operating capabilities and financial flexibility. It includes two sections- non-operating and operating whereas, in operation section it contains expenses and revenues. Similarly, non-operating section has gains and revenues for non-primary business activities that consist of interest expense, finance costs and income tax expense. (Damant 10-18) The pros being: For investors it is god as it contains detail information that accounts to operational efficiency, operational, profits etc. It represents the profitability over a period by making the principal equivalent to expenses. It provides details on revenues like COGS, taxes, employee expenses gained from non-operating aspects. It includes accrued interest from various investments that is an ideal source for generating revenue. The cons being: It is including in fraud with earnings management to report intentionally to the managers in financial reporting (Peterson Drake and Fabozzi) It includes judgements are available but are not ,measured by having a subjective component Cash flow Statement It is statement that shows the operation of the organization affecting the cash in a financial year period. It contains the funds flow statement and cash statement. The advantages are: It is working like a filter for investors and analyst by judging on the fact whether the company is making the financial statements error free. The statements turn to be incorrect if the balance sheet with cash flow statement is incorrect. The original cash position for two balance sheet with dates with profit and loss and funds flow is not able to show so it is crucial to make cash flow report by knowing the liquidity status of the organization (Fridson and Alvarez) The projections formed are accurate in nature in respect to liquidity of position by arranging the shortfalls in money in form of arrangements in advance. Any extra amount on part of the organization it helps in earning additional amount. The disadvantages are: When isolated it is of no use but requires other financial statements help like profit and loss (PL account), balance sheet etc. This presents only cash portions so it is not possible to judge by only viewing PL account 3. Critical Assessment of Policies Applicable to Business The policies of insurance have to be governed by insurance agreement that is inclusive of conditions, definitions and exclusions. It is a declaration that contains the information about the risk that insurance companies have to abide by (Rejda). The declaration contains the information risk that is limited to activity, insured property of the insured, name of policyholder etc. The insurance agreement covers the indemnity loss taking into account all risks and perils based name. In the first page of the insurance the terms and information included are: Policy limits Insurance company Premium Name insured The kind of insurance Policy period Deductibles The conditions contain the clauses that are specific to the condition as per set standard with some exclusion like narrowing of responsibility in case of loss. Any changing taking place in the document at original risk has can be changed i.e. delete or additions can be made further in the form of endorsements (Merkin and McGee). The validity of the contract is dependent on both parties that can be for long period, short period or one year. It includes payment terms of the policy, cancellation etc. In some cases deductibles are mentioned by paying the amount that is dependent on lower the premium amount bigger is the deduction. The policies that govern a business are discussed below: Indemnity This provides financial compensation to the insured to be in the same place as before the loss occurred to gain the same financial position. The value of the insurance paid should be agreed beforehand as the insured does not make any profit (Gephart). The money provided is on the basis of valuation on the basis of two aspects: Replacement value is paying for the damages without deducting the depreciation that is serving restriction by maximum dollar amount as declared on the policy form. Original cash value is paying the same value that is equivalent to replacement cost of the damaged property but, deducting the depreciation Insurable Interest In insurance term interest represents financial relationship with an individual and as per insurable interest it is forming a legal relationship. It is a matter of insurance that provides them with the right by being in the relationship legally. In this policy various terms like leased by, care, owned by, control or custody, rented by is used for the effectiveness (Mehr and Cammack). It is applicable in varied case some of them being tour operator or auto loan. This is applicable in various insurance such as: Life insurance at the time of inception but is not needed in time of claim In property does not exists in claiming nut at the time of inception it is necessary Marine insurance at the time of claim or loss but is not applicable in time of inception Subrogation In insurance two parties are involved in the process insurer and insured whereas, in this the insurer is serving the right to recover the amount paid by i.e. indemnity. It includes recovering the money from third party who is involved in the damage. The process begins even before the claim is paid that is applicable only in case of a clause in being inserted (Rejda). It is done to insure ones own benefit against the third party and action taken by the insurers subrogation should be performed in the name of insured. Proximity Cause This principle of insurance states that insurers are liable to pay the claims that is causing losses due to insured perils and not by uninsured perils or expected losses. A loss that has occurred may be due to number of causes or a combined effect taking place. In claiming the insurance one dominant cause has to reflect for paying money as all cases might not attract compensation. Utmost Goof Faith When an individual is opting for the insurance policy it is the duty of the insurer to disclose all accurate and voluntary materials associated with it. It is done before signing by keeping good faith wherever needed and in order to be efficient physical risk assessment is undertaken (Merkin and McGee). This procedure appoints assessor who judge the risk better by understanding it for example- UAE motor of data sharing. The insurance contract may be breached if any misrepresentation and any non-disclosure of information take place. It includes hiding personal details like fever from childhood, intentional motive etc. Contribution This is related to the claim that applies between the insurers of double events where two or more policies are getting affected on behalf of the insurer getting the same interest by agreeing in sums of the agreed amount that is exceeds the indemnity allowed legally. The interest of both the parties should be same having the same problem by having a loss. The policies undertaken should cover the same matter and for this as proportionate amount needs to be paid by insurer occurring at the time of loss (Gephart). Conclusion From the above discussion it can be concluded that insurance and contract is dependent on both the parties entering into contract. The risk of the insurance companies on Takaful insurance has to be insured in response to the market. The insurance companies have to analyse the risk in relation to Takaful by checking the financial statement of the insurers. The insurance contract formed has some rules and regulations upon which it is set that is profitable to business. Thus, Takaful insurance used by the people have to be within the regulatory measures. References Archer, Simon, Rifaat Ahmed Abdel Karim, and Volker Nienhaus. Takaful Islamic Insurance. Singapore: John Wiley Sons (Asia) Ltd., 2009. Print. Aris, Nooraslinda Abdul and Roszana Tapsir. "RISK AND RISK MANAGEMENT OF TAKAFUL INDUSTRY". JOURNAL OF GLOBAL BUSINESS AND ECONOMICS 4.1 (2012): n. pag. Web. 21 May 2016. Damant, David. "The Revolution Ahead In Financial Reporting: A New World What The Income Statement Means To Financial Reporting". Balance Sheet 11.4 (2003): 10-18. Web. Dionne, Georges. "Risk Management: History, Definition, And Critique". Risk Management and Insurance Review 16.2 (2013): 147-166. Web. Fraser, Lyn M and Aileen Ormiston. Understanding Financial Statements. 3rd ed. Upper Saddle River, N.J.: Prentice Hall, 2004. Print. Fridson, Martin S and Fernando Alvarez. Financial Statement Analysis. Hoboken, N.J.: Wiley, 2011. Print. Gephart, William F. Principles Of Insurance. 3rd ed. New York: Macmillan, 2005. Print. Guthmann, Harry G. Analysis Of Financial Statements. 3rd ed. New York: Prentice-Hall, 2005. Print. Mehr, Robert Irwin and Emerson Cammack. Principles Of Insurance. 3rd ed. Homewood, Ill.: R.D. Irwin, 2005. Print. Merkin, Robert M and Andrew McGee. Insurance Contract Law. 3rd ed. London: Kluwer Pub., 2005. Print. Peterson Drake, Pamela and Frank J Fabozzi. Analysis Of Financial Statements. Hoboken, N.J.: Wiley, 2006. Print. Rejda, G. (2006). Principles of Risk Management and Insurance (9th ed.). Dorling Kindersley, India. Yakob, Rubayah et al. "Solvency Determinants Of Conventional Life Insurers And Takaful Operators". Asia-Pacific Journal of Risk and Insurance 6.2 (2012): n. pag. Web. Yusof, Aida Yuzi, Wee-Yeap Lau, and Ahmad Farid Osman. "Risk-Based Capital Framework: Conventional Vs. Takaful Operators". jmr 7.2 (2015): 1. Web.

The Satisfaction With Destination Quality Tourism Essay Essay Example

The Satisfaction With Destination Quality Tourism Essay Essay Travel and touristry particularly for the economic growing around the universe, have undergone different phases of development in the last few decennaries. One of the major challenges that face touristry directors is to understand the behavioural forms of tourers there is non much research that has been done to analyze the way between overall satisfaction, purpose revisit and recommendation to others in Sri Lanka. This survey uses Overall Satisfaction, Intention to Revisit, Intention to Recommend as the chief theory to explicate international tourers behaviour towards revisiting and urging to others Sri Lanka. However, the better anticipation and account of behaviour, uses ground action and satisfaction with finish theory. In fact, this theory is non exhaustively tested in Sri Lanka, the literature that helps to explicate the demand for this research, is reviewed and conceptual model and hypotheses are formulated base on the literature. 2.1 Reasoned Action We will write a custom essay sample on The Satisfaction With Destination Quality Tourism Essay specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Satisfaction With Destination Quality Tourism Essay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Satisfaction With Destination Quality Tourism Essay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The theory of reasoned action built on other research conducted by Fishbein and Azjen ( 1980 ) is designed to both, better anticipation and account of behaviour. This theory provides a model to analyze executing behaviour. Harmonizing to the theory, the most of import determiner of a individual s behaviour is a combination of attitudes towards executing the behaviour and subjective norms. The person s attitude toward the behaviour includes ; Behavior belief, rating of behavior result, subjective norm, normative belief, and the motive to follow. In this research dependant variable was behavior purpose to revisit and urge, which are indicants of whether a tourer to a plan, installation, finish will return and urge to his/her household and friends. 2.2 Satisfaction with Destination Quality Satisfaction has been treated as a one-dimension building, which varies along with positive images associated with the luxury hotel ( Mazanec, 1995 ) . Harmonizing to the theory Satisfaction with finish, tourer value is the grade of enjoyable fulfilment of their demand and wants, including the full scope of service and activities offered by the finish. ( Foster, 2000 ) . Every tourer finish is endowed with diversified physical and cultural properties along with the overall attitudes of tourers towards the finish and the complexness of service degrees. This holistic feeling created by the finish on tourers and how they are satisfied with attractive force, their dining experience, nutrient assortment, with the cordial reception of local people and service quality form the topic for research. Pulling on the consumer literature, it is excessively easy to presume that the results of the tourer activity are entirely the creative activity of the tourer operators/industry. However, it is possibly more informative to follow a transactional position outlined in the diversion literature. Here, the tourer actively creates the diversion ( tourer ) experience, through a dealing with the physical and societal scene, including what the recreationist ( tourer ) brings to the procedure in footings of history, perceptual experiences, comrades, accomplishments, equipment, individualities, hopes and dreams ( Williams, 1988: 432 ) . With this position, more accent is placed on the behaviour of the person and their function in making the experience. Not all the duty for making high degrees of satisfaction remainders with the service Jesus. With this in head, ( Cromptomton and Love, 1995 ) make a differentiation between quality of chance and quality of experience. Quality of chance is def ined as quality of the properties of a service that are under the control of a provider. Evaluation is concerned with judgements about the public presentation of the leisure chance provider. In contrast, quality of experience involves non merely the properties provided by a provider, but besides attributes brought to the chance by the visitant or recreationist. Quality of experience is a psychological result or emotional response. Satisfaction is measured by how good leisure activities are perceived to carry through the basic demands and motivations that stimulated the thought to take part in the activity ( Crompton and Love, 1995 ) . In this research, concerned tourers from different states how they perceived the properties and how satisfied or dissatisfied they are with attractive forces, nutrient and drink, shopping, and adjustment have been researched. 2.3 Overall Satisfaction Harmonizing to the disconfirmation paradigm, satisfaction is a comparing between public presentation and outlooks ( Oliver, 1981 ) . Although, harmonizing to Oliver ( 1999 ) this is a definition based on what the consumer does, and non on its psychological significance. Oliver has hence proposed, Satisfaction is defined as enjoyable fulfilment ( Oliver, 1997, 1999 ) . That is, when the ingestion fulfils some demand, desire, end or so forth and that this fulfilment is enjoyable. This position of satisfaction reflects its cognitive nature. Therefore, satisfaction is the tourer s sense that ingestion provides outcomes against outlooks and a criterion of pleasance versus displeasure. An facet related to satisfaction is when an effort is made to set up an emotional bond with tourers through the image of the finish, projecting emotional satisfaction and non merely through the basic demands, such as nutrient, remainder or enjoyment ( Chaudhary, 2001 ; Kandampully A ; Suartanto, 2000 ) . It has been therefore recognized that touristry satisfaction degree can be attributed to different finish attributes including touchable merchandises and intangible service quality and the friendliness of the local people ( Cromptomton A ; Love, 1995 ; Lounsbury A ; Hooper, 1985 ; Ryan, 1997 ) . Johnson, Anderson et al. , ( 1995 ) have distinguished between two different general conceptualisations of satisfaction: transaction-specific satisfaction and cumulative satisfaction. The former is concerned with satisfaction as an person, transaction-specific step or rating of a peculiar merchandise or service experience ( Johnson, Anderson et Al. 1995: 699 ) . Accumulative satisfaction, on the other manus, is a cumulative, abstract concept that describes client s entire ingestion experience with a merchandise or service ( Johnson, Anderson et al. , 1995: 699 ) . As a client s overall rating of the purchase or ingestion experience, cumulative satisfaction is the most relevant conceptua lisation when the focal point is on the tourer s rating of their overall experience at a finish. This is sometimes referred to as market-level satisfaction. The literature suggests that satisfaction measuring must be treated otherwise at these two degrees of abstraction. Furthermore, when sing consumer satisfaction with their ingestion experiences, a major differentiation has been made between the ingestion of goods and services ( Lovelock, 1991 ) . Measures of satisfaction are non the same for these different ingestion experiences, mostly because of the function of the consumer in the service brush. It could besides be argued that touristry is a special service in that, like diversion or instruction, it is mostly self-generated ( Williams, 1988 ) . The single plays a cardinal function in finding the experiences achieved and the benefits derived 2.4 Purpose to Revisit Purpose to revisit or reiterate travel and finish trueness are sometimes used interchangeably without distinction. Repeat purchase, a behaviour in kernel, is defined as any state of affairs where a individual buys the point in inquiry more than one time. Um, Chun A ; Young Hee ( 2006 ) defined that revisit purpose should be considered as an instigator of a revisit decision-making procedure instead than an end product of it. From a selling point of position, it is of import to the wellness of the finish s economic system, to improved and understanding of repetition tourers. It is indispensable to implement successful selling attempt by aiming them. An analysis of in-depth interviews of 17 respondents bespeaking propensity towards repetition trial showed five grounds that people undertake repetition travel ( 1 ) to cut down hazard by remaining at a familiar finish, ( 2 ) to cut down hazard by happening the same sort of people ( 3 ) to further research the finish, ( 4 ) to be emotionally attached to the finish, ( 5 ) to demo the finish to others ( Gitelson A ; Crompton, 1984 ) . Kozak, ( 2000 ) , and Tribe ( 1998 ) in a survey found that the degree of satisfaction was straight related to tourism rating of finish, rating of finish properties, which included the natural environment, physical attractive force, adjustment, eating houses, shopsaˆÂ ¦ and so on. Yuksel, ( 2000 ) found that both first clip visitants and repetition visitant normally regards quality of nutrient, quality of adjustment, as ground to come back. 2.5 Purpose to Recommend Previous research findings demonstrate that there is a important relationship between tourer satisfaction, purpose to return, and positive viva-voce communicating ( Beeho and Prentice 1997 ; Hallowell 1996 ; Pizam 1994 ; Ross 1993 ) . A similar relationship exists among tourist dissatisfaction, willingness to look for other finishs for farther trips, and negative viva-voce communicating ( Almanza, Jaffe, and Lin 1994 ; Peter and Olson 1987 ; Pizam 1994 ) . Satisfaction or dissatisfaction with old experience besides is important because it might impact outlooks for the following purchase ( Westbrook and Newman 1978 ; Woodruff, Cadotte, and Jenkins 1983 ) . This means that favourable tourer perceptual experiences and attitudes are potentially an of import beginning of competitory advantage. However, it besides is of import to observe that the impact of CS on repetition concern and client trueness is neither the same for all industries ( Fornell 1992 ) nor the same for all finishs world wide ( Kozak and Rimmington 1998 ) . The more they are likely to return the more they are happier to urge to others. In this research, it is of import because it demonstrates that tourers are likely to urge finishs with which they are largely satisfied and intend to see once more. After reexamining the literature, we can do the decision that recommendation the finish to others is their purpose to revisit. Furthermore research shows that service and quality leads to comprehend value, while both satisfaction and perceived value are direct ancestors of behavior purposes like revisit purpose or purpose to urge ( Baker A ; Crompton, 2000 ; Cronin, Brady, A ; Hult, 2000 ) . 2.6 Conceptual Model of the Study Purpose to Recommend Overall Travel Satisfaction Purpose to Revisit Figure 2.1 Conceptual Model of the Study 2.7 Hypothesiss 2.7.1 Overall Satisfaction and Intention to Recommend Furthermore, some of the surveies mention the current high degree of overall satisfaction with the tourer in New Zealand tell us that holiday appears to be mostly determined by the degree of satisfaction with the attractive force tourers have experienced. Therefore, there is considerable duty on the portion those who operate these attractive forces to guarantee that current degrees of satisfaction with their concerns are maintained or enhanced. This duty is peculiarly critical given that activities satisfaction is the vacation constituent that impact significantly on the likeliness of urging an of import factor in bring forthing favourable word of oral cavity promotion ( Danaher A ; Areweeiler, 1996 ) . H1: Overall travel satisfaction of tourers in Sri Lanka has a positive influence on purpose to urge. 2.7.2 Overall Travel Satisfaction Influence on Intention to Revisit Scott ( 1995 ) developed a touristry satisfaction theoretical account that is based on the cumulative of touristry experience. They found that overall satisfaction, purpose to urge and revisit is mostly a base on type of the benefit tourers experience during their visit. From the literature, mentioned above the undermentioned hypothesis is formulated. H2: Overall travel satisfaction of tourers in Sri Lanka has a positive influence on purpose to revisit. 2.7.3 Purpose to Recommend and Intention to Revisit If touristry merchandises and services match tourers outlook, they would be satisfied and leave the finish with a loving memory. That is why touristry service suppliers at a finish are determined to please or surprise their visitants in order to heighten their satisfaction. Scott ( 1995 ) developed a touristry satisfaction theoretical account that is based on the cumulative nearer of touristry experience. They found that overall satisfaction and purpose to urge and revisit are mostly a map of the types of benefits tourers experience during their visit. The concept of future behavioural purpose Purposes to urge or to revisit are both indexs of trueness ( Bigne, Sanchez, A ; Sanchez, 2001 ) . Furthermore, Rimmington ( 2000 ) found the of import relationship between overall satisfaction and tourers purpose to urge others. Therefore, base on the treatment above the undermentioned hypothesis is formulated. H3: Whether there is positive relationship between purpose to urge and purpose to revisit.