Saturday, December 28, 2019
The Revenues Of Football Clubs Finance Essay - Free Essay Example
Sample details Pages: 12 Words: 3645 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Although all accountants adopt the generally accepted accounting rules, each industry has its own characteristics. This is why analysts need specific knowledge about the industry so as to decide which set of accounting rules to apply to reflect the financial situation of the corporation best. And in the football industry, perhaps the main characteristics is the fluctuations in revenue and net income due to uncertainties in the industry. Don’t waste time! Our writers will create an original "The Revenues Of Football Clubs Finance Essay" essay for you Create order A team can earn a huge amount of money in this year but it can find itself losing money in the next year. The uncertainties root from the uncertain results in the league games. The revenues of football clubs heavily depend on the performance of the team in the league. A simple example is that the football club which does well may have a higher revenue than its counterparts due to the elevated demand of the club-related merchandize. So, if the underlying principles that affect the teams revenue-generating factor can be identified, predicting the company performance will be much easier. This shall be discussed in the following by analyzing the annual reports from 2004-2007 of three football clubs, which are Arsenal Football Club, Liverpool Football Club and Tottenham Hotspur. (Notes: The annual report for the year 2007 of Liverpool is not yet released and therefore we use the statistics in 2004 instead. As said previously, since the financial performance fluctuates greatly, we ar e not going to estimate the figures in 2007.) Factors There are a number of factors that can affect the ability of a football team of generating revenues. First, it is known that a part of the operating income of a football club comes from the reward of winning a championship. For UK football clubs, they usually aim at advancing in the UEFA Cup or the even loftier UEFA Championship League, which have a relatively high value of prize money. They sometimes pay less attention to domestic competitions like Premier League, Carling Cup and FA Cup. Apart from the prize money, another important factor is the broadcasting revenue. This comes from the agreements signed between the clubs and the league or cup organizers. Each team in the league receives the broadcasting fee directly proportioned to the number of rounds they played. Therefore, a team in the league usually receives the same share of broadcasting revenues. Yet, for the cup competitions where the knock-out system is adopted, a team which makes a deeper run has more matches to play and hence more broadcasting revenues. It also attracts a larger audience to watch the broadcast, thereby benefiting the club. Also, the revenue gained from the gate receipts is also crucial. Similar to the TV broadcasting fees, the better the team performs, the higher the revenue the team gets from the ticket sales, partly due to the brand name effect, which boosts the ticket sales. The above four factors shall be discussed in the upcoming section of Team Results. Secondly, the sales of team-related merchandize items can also be a major source of income. This highly depends on the size of fan-base. A larger fan-base has a higher demand in the club merchandize, which boosts the operating income. Clubs tend to invest to enlarge its fan-base, which is often described as a marketing strategy as found in the annual reports. A larger fan-base also enhances the brand name of the football club, which can also be a potential benefit for the football club itself. This shall be discussed in the Fan Base section. Thirdly, a team who is able to control the payroll of independent players better enjoys a greater fiscal freedom due to the stricter cost control, which can be beneficial to the football club. Plus, if a team can efficiently deal with the sum involving trading player, the team places itself to a sound financial position. These factors shall be discussed in the section Payroll and Trading of Players. Last but not least, the administr ation and policy of the directors influence the sustainability of the club a lot. For instance, the decision of building a new stadium, investing in training facilities or simply renovating their headquarters do play a significant role in the long-term development of the club. Only if the leaders of the club are of visions can they lead the club to adapt to the environmental changes and to survive from different challenges. This shall be discussed in the Team Strategies part. Team Results Net Sales 2004          2005          2006         Average Arsenal             156887        138395        137237   144173 Liverpool             91576         121054        119499       110710 Tottenham             66324         70550         74141        70338 Net Income                      2004             2005             2006             Average Arsenal             8152             8293             7902             8115.667 Liverpool            -18220             7533             -4257            -4981.33 Tottenham            -2692             4104             -1575            -54.3333 As mentioned before, a teams success in leagues and cups definitely has a great impact on the teams profitability. In particular, European competitions, mainly UEFA Championship League and UEFA Cup, are of the utmost importance to the UK football clubs due to the lucrative bonuses and broadcasting fees. Successes in European competitions also imply a higher visibility and global exposure which help a club capture more fans. It is found that there is sound evidence to draw a positive relationship between the successes of the football clubs to the revenues therefore generate. Both Arsenal and Liverpool were competing in UEFA Championships League in the past few years and Tottenham was only competing in the lower-level UEFA Cup. This explains the huge disparity between the revenue of Arsenal and Liverpool and that of Tottenham. For Tottenham, they also had a break-out last season, which is entering the quarter-final of UEFA Cup. It leads to a boost in revenue from pound;74 mil lion to pound;103 million. However, before that, its revenue never exceeds pound;100 million which makes the club inferior against the other 2 clubs. For Liverpool, its revenue ranges from pound;92 million to 121 million in 2004-2006. In particular, Liverpool won the UEFA Championships League in 2005 leading to the exceptionally high turnover of pound;121 million and net income of pound;7.53 million this year. Yet, in both 2004 and 2006, the club suffers from a great loss which probably due to its early exit in the UEFA Championships League. For Arsenal, its revenue exhibits stability over the past 4 years, especially from 2004 to 2006, where its revenue ranges from pound;137 million to pound;157 million. In 2007, however, there is a sudden increase in its revenue, due to the increase of sales of gate receipts in the new stadium (which shall be discussed later in the Team Strategies section). They also earn a positive net income all over the four years which cannot be achieved by the other two clubs. From 2004 to 2006, both revenue and net income of Arsenal are higher than that of Liverpool, even though Liverpool won the UEFA championships League in 2005. This is accomplished by the stable results in the domestic Premier League. Arsenal won the league in 2003/2004 seasons, finished the second and fourth respectively in the next two seasons while Liverpool havent won the Premier League since 1989/1990. In this season, Arsenal leads the Premier League and has secured a place in the UEFA Championships League First knock-out round while Liverpool faces elimination in the UEFA championships League group stage and is in the 5th place of Premier League. Tottenham is in the 13th place and hence is only competing in UEFA Cup only. We could conclude that Arsenal is now the best-performing team in this season among the three. In addition, the average age of first-team squad of Arsenal is roughly 23, which is much younger than that of Liverpool and Tott enham, which is around 26 and 27. In the foreseeable future, when Arsenal players matures in the next few years, we expect that Arsenal will display high level of football and have a rather bright future and so as their overall team results. Therefore, it is reasonable to assume that Arsenals revenue and net income will only continue to rise steadily in the next few years. And for Liverpool and Tottenham, both clubs have a large and sole reliance on European competitions; failure in these competitions could undoubtedly drag down their ability to generate income. All in all, Tottenham still has a long way to catch up with Arsenal and Liverpool while Arsenal seems to have a better on-court and financial performance than Liverpool. In terms of that, Arsenal is the best amongst all. Fan Base Another major source of revenue is the sales revenue of football kits, souvenirs and other team-related merchandize. This kind of revenue is mainly determined by the fan base of the football club. Usually, the broader the fan-base, the higher the demand of the merchandize, so as the revenue. Therefore the football clubs are more than willing to invest much in extending its fan base. Mechandize Revenue                      2004             2005             2006             Average Arsenal               6885             8389             10218             8497.333 Liverpool             11701           12312            16322             13445 Tottenham             4381             4739             5182             4767.3 33 Among the three football clubs that we are comparing, apparently both Arsenal and Liverpool football club enjoy a broader fan-base than Tottenham Hotspur due to their more glorious history. For example Liverpool has won Premier League for 18 times, a record for English clubs. It also won European Championship League for five times. Nevertheless, Arsenal won the Premier League for 13 times, especially in 2003/2004 season they remained unbeaten for the whole season which may be so incredible that can never be paralleled in the future. All these marvelous results help the team capture die-hard fans. This guarantees the steady, and fortunately increasing, sales of merchandize. Despite the fact that Tottenham also has a long history (125 years at 2007), their incapability in winning the Premier League for years and failures in European competitions limit their reputation and hence their fan-base. This explains why the sales revenue of Tottenham is much lower than that of the other two clubs. Therefore, it is found that Liverpool and Arsenal have overwhelming revenue from merchandize against Tottenham. From the reports, the average merchandize revenue of Tottenham (pound;4.8 million) is roughly a half of that of Arsenal (pound;8.5 million) and Liverpool (pound;10.1 million) only during 2004-2006. On the other hand, apart from the Arsenal football club, both Liverpool and Tottenham do explicitly recognize the potential of foreign markets and therefore state they would extend their markets in the annual reports. Liverpool focuses in extending their fan base in Asia. They have done so by doing promotions in Asia, for instance, they visit and play several friendly matches in different Asian cities in the past few years. For instance, there was a match resulting in 4-1 victory against Hong Kong team in 2006, which created a craze for Liverpool at that time in Hong Kong. And for Tottenham Hotspur, its main focus is on South Africa market. They not only organized a pre-season tour to South Africa, but also supported South African bid to host the 2010 World Cup. They, too, undertook a few social responsibility visits in the tour. As a result, the clubs successfully set up extensive association with South Africa. It also attempted to create strong bonds with the mass media. For example, it recently announced their partnership with SuperSport United, a Premier Football League team owned by SuperSport, which is one of the largest sports broadcasters with broadcast channels to 57 countries. The club-media bonds highly enhance the visibility of the club to its potential fans, thereby capturing more fans. Another key factor that affects the fan base is the presence of charismatic football stars in the team. The movements of popular football celebrities highly affect the size of fan base of a football team. It is not rare that some fans grow interest into particular charismatic players themselves instead of the football club itself . This dependency factor has increased risk for the club as when some players refuse to extend their contracts with the club, the club may lose some of their fans. Therefore to guarantee the sustainability of a club, it tends to sign a longer contract period with the players. Take David Beckham as an example, he was traded to Real Madrid of Spain from Manchester United of England at a cost of â‚ ¬35 million (roughly pound;25 million) in 2003. The Real Madrid club has received an almost immediate growth in its fan base and therefore has quickly earned enough revenue that can cover the transaction cost by merely the sales of Beckhams kits. In general, signing of football stars does help raise their image and stimulate their sales revenue. It usually provides immediate yet short-term spark to the team. At the end, it also comes to the team performance to both attract and retain fans in the long run to maintain a sustainable growth and development. For Arsenal, the most popu lar star is undoubtedly Thierry Henry but unfortunately he has left the team to join FC Barcelona. Though there are other rising stars in the team like Cesc Febregas, Theo Walcott and Van Persie who not only help the team to achieve excellent result but also help attracting more people to watch the teams matches, the leaving of Thierry Henry is hardly be compensated. For Liverpool, thanks to their charismatic captain Steven Gerrard and skillful striker Fernando Torres, the team is gaining more and more support from all over the world. And their effort and explore made in Asian market will only further boost their popularity. In comparison with Liverpool and Arsenal, Tottenham obviously lack some trademark football stars. This pays an important role into the poor economic performance of the club. As a short conclusion, Liverpools effort in exploring new market in Asia is obviously does help the club earn a handsome amount of merchandizing revenue. And due to the departure of Thierry Henry, it probably affects the merchandizing revenue of Arsenal and size of fan-base in the forthcoming seasons. So in term of fan-base, Liverpool does have a slight advantage over Arsenal whereas Tottenham is in the last place again. Payroll and Trading of Players Another key stakeholder in determining the performance of a club is the trading of player. Signing a top player not only helps a team by having a strong member in the team in order to remain competitive, but also creates a positive brand name effect to the team. Yet one must not neglect the fact that it may also create severe financial burdens to the club once over-contracting players (diseconomies of scale). For example, Leeds who once entered the semi-final of UEFA Championship League is currently playing in the Football League only, which is two levels lower than the Premier League. The main reason for its failure is its over-expansion. It used to aim at qualifying for the European Championships League and therefore allocated a generous amount of fund for signing top-class players. Its investments were financed by borrowing but sadly they failed to enter the UEFA Championship League. As a result, it was forced to sell its players at a cheap price because it didnt have enough cash to repay the debt and the players payrolls. Thats a good example to illustrate the importance of cost controlling. Liquidity and liability must be considered too. Cash Ratio                     2004             2005             2006             Average Arsenal             0.25             0.66791           0.21227           0.376727 Liverpool            0.00452           0.0104            0.00623           0.00705 Tottenham            0.351             0.824             0.473             0.549333 Financial Leverage Ratio                     2004             2005             2006             Average Arsenal             2.546             3.3265           4.96             3.610833 Liverpool            3.13             3.26             3.6             3.33 Tottenham            1.7786            1.696            2.465             1.979867 Considering their cash ratio, both Arsenal and Tottenham are acceptable, with a ratio of 0.38 and 0.55 respectively. But Liverpools ratio is a low 0.007 only which is an evidence of its risky situation. It has to seek ways to either increase their cash or reduce their current liabilities. For the financial leverage ratio, Arsenals ratio is 3.61 which is a bit high since Arsenal finances its construction of new stadium mainly by loans. But the club has put in considerable effort to reorganizations of loans by issuing bonds of fixed interest rate. This stabilizes the clubs finance. Liverpools ratio is a little lower at 3.33. Tottenhams ratio is probably the best, with 1.98 which make its plan of building a new stadium possible. These shall be discussed in the upcoming Team Strategies section. But it should be noted that signing of players does not actually affect the net income as the cost of player registration is amortized. So only when players are traded to other clubs, the revenue is affected and either a gain or loss will be recorded. This particularly concerns with the teams ability to sell players at prices higher than their net book values. Profit on disposal of player registrations                     2004             2005             2006             Average Arsenal              2282             2894             19150             8108.667 Liverpool            415             10559             6216             5730 Tottenham           -381             5632             12299             5850 This time, Arsena l seems to be the best businessman, earning an average of pound;8.1 million during 2004-2006, much higher than that of Liverpool and Tottenham, which are pound;5.7 million and pound;5.9 million during 2004-2006 respectively. This probably should be credited to Arsenals manager Arsene Wenger. He is long well-known for transforming average players into top-class players. He signs young players with hot prospect at a low cost and develops them into top-class players. For example, Theirry Henry was signed at a cost of pound;10 million but sold at a price of pound;16 million, a 60%-increase in his value. In addition, in the last season, both Arsenal and Tottenham recorded an unbelievably high profit on disposal of player registrations, pound;18.5 and pound;18.7 million respectively due to sale of Arsenal striker Thierry Henry and Tottenham midfielder Michael Carrick. Even though the annual report of Liverpool in the last year has yet been disclosed, we dont expect a such high level of profit on disposal of player registrations. Apart from the trading of players, controlling the payroll of players can effectively raise the level of net income as payroll solely takes up for more than 40% of the clubs total revenue. The rising of payroll in the Barclays Premier League has called for concern for all football clubs, not only the three clubs that we are comparing. For example, there are more and more players who earn more than pound;100,000 per week like Rooney, Christiano Ronaldo and Jason Terry. Among all, the player with highest payroll is Michael Ballack, who earns pound;130,000 per week. This highly reduces the profit margin of the clubs and may therefore trigger a vicious cycle of increasing the payrolls of the players. Ratio of payroll/net sales                    2004             2005             2006             Average Arsenal              0.39086731        0.4090177         0.5022625         0.4340492 Liverpool             0.53166769        0.4708312         0.5084059         0.5036349 Tottenham             0.46171823        0.418781          0.4886095         0.4563696 For these 3 teams, payroll represents 43.4% of Arsenal net sales, 50.4% of Liverpool net sales and 45.6% of Tottenham net sales during 2004-2006. It seems that Arsenal is doing a good job but in fact their ratios have been rising consistently from 39.0% to 50.2% from 2004 to 2006, which is an alarm to the club. They should have paid more attention and efforts to the payroll. For Liverpool, its payroll occupied nearly half of its revenue which is not a good sign at all implying inefficient management. They should be more active in cutting down unnecessary players. For Tottenham, they are doing a pretty good job. Their payroll has never exceeded 50% of their total revenue. However, this season they has just fired their manager Martin Jol and paid quite a huge sum of compensation. An addition of new players like Darren Bent in this season may also create new financial burdens to the club. To summarize, all clubs didnt have big liquidity problem but Arsenal is able to generate the most amount of revenue from profit on disposal of player registrations though there are some concerns a bout its increasing payroll. Still, Arsenal is advantageous in these aspects due to Liverpool even-worse control on payroll. Despite so, Tottenham can catch up with Arsenal soon if they continue to exert stricter control on payroll and generate income from disposal of player registrations. Team Strategies Decisions and policies of the teams also play an important role in determining the teams economic performance. For Arsenal, they insist to re-invest profits and surplus cash into team development, including signing and retaining best players in the team, improving training facilities, medical treatments and youth academy. This may reduce net income level but it surely ensures the sustainability of the club. Moreover, Arsenals new stadium Emirates Stadium has just completed last year, with a great capacity of 60,355 seats, 22,000 more than the old one. This significantly increases the sales of the gate receipts of the team, leading to an increase of revenue from pound;137.2 million in 2006 to pound;200.8 million in 2007. Specifically, the revenue from the gate receipt nearly doubled from pound;42 million to nearly pound;90 million. Tottenham also plans to build a new stadium which could be a good news to the fans but it could also create financial pressure to the club. They ma inly finance the establishment of new stadium by loan. They have to limit the budget for signing players carefully in the next few years implying probable drop in the team competitiveness. Liverpool sees the need of reducing payroll. They therefore wait for surplus players to see out their contracts. But this measure is a little passive. All in all, team strategies take time to take effect. We cant conclude which clubs have the best strategies at this early stage. But we do value Arsenals approach to re-invest their retained earnings as this certainly ensures the long-term development of the club. And Tottenhams attempt to build a new stadium may limit its short-term development but would greatly increase its gate receipts and therefore its net income. On the contrary, Liverpool seems to lack some long-term development plan which could greatly harm their competitiveness in the future. Conclusion On the whole, Arsenal has possibly the best team performance in recent years and future too. It also has the highest profit from disposal of player registrations and ranks second in the both payroll and fan base. It has vision that support sustainability of the club. On top of that, the most impressive thing about Arsenal is its stability over the time period. It exhibits stability in various ratios. It greatly reduce and fluctuation and therefore risks for potential investors. It generates stable yet generous and increasing amount of net income. On the contrary, both Liverpool and Tottenham have a net loss in some years. For investors, Arsenal is certainly a club which worth our attention for holding its stocks in a long term.
Friday, December 20, 2019
Essay about The Life and Works of Ezra Jack Keats
After a four week survey of a multitude of children’s book authors and illustrators, and learning to analyze their works and the methods used to make them effective literary pieces for children, it is certainly appropriate to apply these new skills to evaluate a single author’s works. Specifically, this paper focuses on the life and works of Ezra Jack Keats, a writer and illustrator of books for children who single handedly expanded the point of view of the genre to include the experiences of multicultural children with his Caldecott Award winning book â€Å"Snowy Day.†The creation of Peter as a character is ground breaking in and of itself, but after reading the text the reader is driven to wonder why â€Å"Peter†was created. Was he a vehicle for†¦show more content†¦Keats’ father Benjamin worked as a waiter at a coffee shop in Greenwich Village and was therefore all too familiar with the struggle to make a better life for you and your f amily. Although he had a great appreciation for Keats’ work, he discouraged him from making it a career for fear that his son would not be able to support himself. On one occasion he went so far  ¬Ã‚ ¬ to purchase tubes of oil paint and then gave them to Keats under the false pretense that a starving artist had traded them for a bowl of soup. Fortunately for future readers of his works, Jack was not deterred from his passion for art. When Keats graduated from high school he was awarded the senior class medal for excellence in art. In a cruel twist of fate, his father Benjamin died of a heart attack the day before he was set to receive the award. Although his father never saw Jack receive the award, he learned of his support when asked to identify his father’s body. As he checked his father’s wallet after his death he found several preserved article clippings of all of his achievements. His father was proud of Keats and his work and remained a supporter until h is last breath. With three scholarships to art schools already awarded to Keats, he made what many might see as one of the hardest choices of his life. He chose to work during the day to help support his family and take art classes in the evenings when he had the opportunity. It was thenShow MoreRelatedWhere The Wild Things Are By Maurice Sendak2262 Words  | 10 Pageshave. The illustrations help to follow along and it has a fun concept of trying to find the mouse on every page. 5. The Giving Tree by Shel Silverstein is a wise and lovely story of the tree that gives her all for love is also a wonderful tale about life transforming the boy that played on her branches to an old man that sits on her stump. Children can t resist coming away from this book with a deeper understanding of human nature, of reciprocity, of a parent s love for a child and the nature of
Thursday, December 12, 2019
Information Technology Effective Operationsâ€Myassignmenthelp.Com
Question: Discuss About The Information Technology Effective Operations? Answer: Introduction This report helps to make critical analysis of the managerial decisions in the field of systems and technology at StayTogether which is a group of ten hotel chains who have decided to combat the pressure of the market for low priced hotel accommodation and be competitive in the hotel industry. The hospitality industry primarily consists of three main areas. One of them is accommodation that includes hotels, bed and breakfasts and several other lodging businesses. The hotel industry is booming in spite of certain untoward situations like global recession and enhancing customer satisfaction and better customer service. Since the name of the hotel is new to the customers after the merging of the ten hotels, there has been a great challenge of the new hotel chain and the problem that the company may face is the establishment of the brand in the market. The most important issue that needs to be addressed is the complexity that may arise in the company after merging. The report makes a det ailed discussion about the various possible ways by which the hotel chain can gain competitive advantage. Discussion The hotel industry is much broader than any other industry (Riley, 2014). There are certain factors that the hotels must take into consideration. One of them is satisfaction of the customers. This factor is very common in every industry but the hospitality industry significantly focuses on this aspect since any lack of it may lead to loss of customers. This business is entirely based on providing luxury services to the customers with the lowest possible charge. Customers use the hotels for relaxing and removing any kind of troubles at the lowest possible fare. This industry has a very high competition as there is lot of hotels coming up with new types of services (McManus, 2013). Another aspect that defines the success of the hotels is their theme. This is not mandatorily used by all the hotels in the industry but this is used by many hotels to attract the customers as a part of their strategy. The management of StayTogether have taken certain management decisions in order to stay competitive in the market. They are loyalty programs, rebates to the customers, performing corporate social responsibility activities like charity donations to increase their brand image and also free buffet breakfast and dinner. The company should make use of the loyalty program that will help the guests to earn some points (Steinhoff Palmatier, 2016). These points will help them to make redemption and eligible for free stays and also discounts. People will be available to save a lot of money and these needs to be properly communicated to the customers. The choice of the loyalty programs rely on some significant factors that the customers should take into considerations. They are the number of hotel chains that the company is having in different parts which means that bigger the chain, more the options for the customers with respect to redemption, the benefits which are very important for the cu stomers, the range of the rooms in the hotel and lastly the countries the customers will be travelling. Since the high-end luxury hotel chains do not include the loyalty programs, StayTogether must make proper use of these programs. The features of the programs may be such that the customers will receive complimentary internet facilities with high speed. There can be spa treatments also. Sometimes the hotels make arrangements for free buffet breakfast and dinner. The hotels can unveil their new items in this buffet so that the customers are able to know their new dishes. Corporate social responsibility is another important tool through which StayTogether can increase its brand image among the customers by performing the philanthropic activities. Since the brand is a new one in the chain of hotels because of the mergers, the company should take care of the fact that the name of their hotel is known to most of the people in the market. Rebates allow a person to access the hotel servic e at a cheaper rate. Impact of technology in hotel industry Technology has a major impact on the hospitality industry for its expansion worldwide (Page, 2014). The preferences of the customers are changing every day and it is technology that helps the hotels to keep their information updated. The certain factors that technology takes into consideration are discussed below. Mobility It is an important aspect that helps a traveler during its course of traveling. Now smartphones are used by a larger section of the people as they can access a lot of applications. Apps have helped the travelers in making their journey easier (Dickinson, et al., 2014). The hotel has the opportunity to make proper utilization of apps of their company and it has practically become evident in the current business scenario. Business process integration This factor is also considered as a significant factor in the hospitality industry. The hotels are not only restricted to greeting the guests but help them in providing various facilities like flexible ticket booking system, hotel booking system, spa and gym facilities. Proper utilization of technology makes the hotel services more compliant and enhances flexibility (Tseng, 2015). Social The various social sites like Facebook and Twitter are used by a lot of people worldwide (Semaan, 2014). The hotel chain can use the sites to keep in touch with a large section of people of the society. Personalization Personalized service becomes an important essence of the hotel industry. It helps in welcoming the guests by shoeing greeting messages in the TV when they come in the hotel (Piccoli, Lui Grn, 2017). Wishing the customers on their birthdays, who have earlier visited the hotel, can be another way of enhancing the level of customer service. Property management system The property management system is hotels is an integrated system that creates a link between the the front desk processes and all other vital operations of the hotel that includes the in-room services, electricity usage, telephones etc (Skolling, 2015). Software as a Service/ cloud Cloud technology has become very fascinating in the technological world (Rittinghouse Ransome, 2016). This technology helps the hotels to solve the queries of the customers and also management of data regarding the visitors. Every hotel needs to deal with huge data about the customers. This data remains safe and secured over the cloud and it has been an encrypted platform. This platform is very huge and will be essential for the hotel chain which has been a merger of a number of hotels. Difference between IS and IT issues There are certain issues like technology compatibility issues, data conversion issues, legal issues regarding patented technologies, scalability issues and user interface issues. The hotel, for reducing the cost of the company, may have plans to replace the employees with machines. In that case the employees of the hotels who were working in the different hotels before merging, may lose their jobs. Since the brand is new after merging of all the ten hotels, at first it will be difficult to survive in the market where the competition is very fierce. The user interface issues may be the accessibility of the hotels by the customers (Ozturk, 2016). Though GIS is used to help many decision makers, special decision support system can be designed to address the geographically explicit problems. If the user interface is not friendly in the hotel industry, then the customers will shift to other hotels. Recommendations The company should first create a new website with its new name so that new customers are able to know about the new chain of hotels. The website should have a classic look and with all the necessary details about their products and services. It must also contain up-to-date information about any recent activities and offers. This will help the visitors to know the rates of the rooms and any other facilities like spa, internet facilities and access to gym. The visitors should be given the liberty to write reviews about the services of the hotel and critically analyze the negative ones. The hotel chain should make a specific target market for its business and not attract all types of customers. The employees of StayTogether can directly talk with the customers through e-mails or through their websites. They can make proper utilization of the popular social sites like Twitter and Facebook. The management should hire competent employees in the position of leaders so that a good culture is maintained in the hotel. The employees of the hotel should be empowered to make valuable decisions about solving any problems in different situations (Luoh, Tsaur Tang, 2014). The management of the hotel must also look into the customer relationship management. It can also make use of the self-service kiosks by which the hotel can be benefitted through increased customer service, reduction in the costs of staffing and better resource utilization. The company can take the advantage of the advanced technologies for the betterment of their services to the customers. StayTogether should train their staff properly so that the customers are greeted in a better way. The hotel can successfully use the CRM or the customer relationship management as it is having a lot of benefits. The CRM system enables systematic collection as well as fragmentation of the information with regards to the customers (Heinemann, 2016). This helps in the creation of a huge repository. The databases required for the potential customers are well handled with the effective usage of CRM systems (Peppers Rogers, 2016). For example, the staffs at the front desk will be able to look at the booking of a single visitor across all their locations. CRM also helps in the information scrutiny of the customers (Rodriguez, Ajjan Peterson, 2014). The employees in the hotel industry need to deal with a lot of information every day. Although it is done with the help of technology, but the CRM system plays a crucial part in maintaining a central repository. CRM also assists in the successful execution of elevating the conversion rates and also converting the first time guests into loyal ones. The proper distinctions between the transactional and potential customers can also being made with the help of this management system. Another criteria can be the right focus. The significant solutions regarding customer interactions are being put forward by the CRM functions. CRM also helps to combat the competition. This management tools can help the hotel management to maintain a consistency in their quality service and incorporating some innovations. CRM also raises the efficiencies of the employees through the automation systems (Wei, 2016). This, in turn, eliminates the non-core tasks. Automation systems make the sales and marketing, promotional activities and advertising much faster. CRM can also help the sales and marketing team of a hotel to leverage the CRM solutions in creation of mobile, social media and web campaigns (Turban,Strauss Lai, 2016). This tool assists the hotel management in paying close attention towards the customers. The CRM software even helps the management in formulating future strategies as to how they can enhance the quality of their service (Strauss, 2016). Importance of Supply chain management Supply chain management is as important as customer relationship management and assists a company in various ways. This management tool can help a hotel in managing the material costs of the company (Christopher, 2016). Material ordering costs and inventory holding costs are the two important factors that can be effectively reduced by proper supply chain management processes. The supply chain management activities have several advantages such as supporting the operating requirements, manage all the operations affectively, achieve the organizational goals, development of the supply strategies, proper selection of the supply and purchase of the products from the right place with right specification, right quality and on the right time. SCM further helps in the execution of the commodity analysis. Conclusion The report has described the ways through which a new chain of hotels after merging, has made several managerial decisions as to how to attract new customers and make them loyal in the market of high competition. It has also helped to gain an insight into the current scenario of the hotel industry. Many of the ways by which the hotel can create a good brand image and provide better service to the customers have been recommended here. It has been inferred that customer relationship management and supply chain management have enormous effects on the effective operational activities of a hotel. The managers of the hotels will be benefited by the application of information systems. The discussion about the management decisions shall give an idea as to how the aforementioned hotel can attract the customers in an effective way. The report has given importance to the information technology to create its brand image and brand loyalty. References Christopher, M. (2016).Logistics supply chain management. Pearson UK. Dickinson, J. E., Ghali, K., Cherrett, T., Speed, C., Davies, N., Norgate, S. (2014). Tourism and the smartphone app: Capabilities, emerging practice and scope in the travel domain.Current Issues in Tourism,17(1), 84-101. Heinemann, F. (2016). Driving Performance with Programmatic CRM. InProgrammatic Advertising(pp. 243-254). Springer International Publishing. Luoh, H. F., Tsaur, S. H., Tang, Y. Y. (2014). Empowering employees: job standardization and innovative behavior.International Journal of Contemporary Hospitality Management,26(7), 1100-1117. McManus, L. (2013). Customer accounting and marketing performance measures in the hotel industry: Evidence from Australia.International Journal of Hospitality Management,33, 140-152. Ozturk, A. B., Bilgihan, A., Nusair, K., Okumus, F. (2016). What keeps the mobile hotel booking users loyal? Investigating the roles of self-efficacy, compatibility, perceived ease of use, and perceived convenience.International Journal of Information Management,36(6), 1350-1359. Page, S. J. (2014).Tourism management. Routledge. Peppers, D., Rogers, M. (2016).Managing Customer Experience and Relationships: A Strategic Framework. John Wiley Sons. Piccoli, G., Lui, T. W., Grn, B. (2017). The impact of IT-enabled customer service systems on service personalization, customer service perceptions, and hotel performance.Tourism Management,59, 349-362 Riley, M. (2014).Human resource management in the hospitality and tourism industry. Routledge. Rittinghouse, J. W., Ransome, J. F. (2016).Cloud computing: implementation, management, and security. CRC press. Rodriguez, M., Ajjan, H., Peterson, R. M. (2014). CRM/social media technology: impact on customer orientation process and organizational sales performance.Journal of Marketing Development and Competitiveness,8(1), 85. Semaan, B. C., Robertson, S. P., Douglas, S., Maruyama, M. (2014). Social media supporting political deliberation across multiple public spheres: towards depolarization. InProceedings of the 17th ACM conference on Computer supported cooperative work social computing(pp. 1409-1421). ACM. Skolling, J., Sderstrm, V., Sandqvist, D., Edvinsson, M., Lejonqvist, A., Norborg, F., Danielsson, L. (2015). Creating the Contemporary Property Management System of Tomorrow. Steinhoff, L., Palmatier, R. W. (2016). Understanding loyalty program effectiveness: managing target and bystander effects.Journal of the Academy of Marketing Science,44(1), 88-107. Strauss, J. (2016).E-marketing. Routledge. Tseng, M. L., Lin, Y. H., Lim, M. K., Teehankee, B. L. (2015). Using a hybrid method to evaluate service innovation in the hotel industry.Applied Soft Computing,28, 411-421. Turban, E., Strauss, J., Lai, L. (2016). Social Customer Service and CRM. InSocial Commerce(pp. 155-178). Springer International Publishing. Wei, S. U. (2016). Design Research of the Insurance Business Management System Facing Mobile Terminals.
Wednesday, December 4, 2019
Eluded Socialist Allusions Within Steinbeck free essay sample
# 8217 ; s Grapes Of Wrath Essay, Research Paper Imagine wake uping to the first beams of morning, happening yourself lying on a tatterdemalion bit of unlifelike beneath a main road flyover. Your empty tummy churns with numbing hungriness and you know today will be yet another listless scuffle for endurance. Homeless, jobless, and hungry, you glare with ardent green-eyed monster at those clothed, groomed, and grandiloquent passerbies hold oning their bags and billfolds tightly when they catch sight of you. Ashamed and enraged, you feel cheated and inquire how it is possible for such fiscal diverseness to be within the same metropolis. You pitifully shore up yourself against a wall on a busy street corner and await the forenoon hotfoot hr that will provide your meager breakfast. The utmost poorness experienced by the unfortunate husbandmans who were forced into vagrancy during the Great Depression is non unlike the privation that exists in American ghettos today. Such widespread destitution is a direct consequence of an unequal economic system. Through narratives of incapacitated households # 8217 ; trial, Steinbeck and Kotlowitz unwrap the defects of the capitalist system in The Grapes of Wrath and There Are No Children Here, meanwhile touching to an alternate economic construction: socialism. Throughout the novels, disadvantaged households become incapacitated victims of the deficiency of effectual authorities assistance in their country, an inauspicious consequence of utmost capitalist economy. The Chicago Housing Authority really hired # 8220 ; private security guards [ who ] searched out the homesteaders and physically removed them # 8221 ; ( Kotlowitz 79 ) . By kicking homeless people back out on the street, this authorities outfit in cold blood disregarded the basic human demand of shelter in order to continue their right to the creaky belongings of the Henry Horner Homes. Such self-interested processs are frequent and permitted through the capitalist thoughts of personal belongings ownership. The # 8220 ; salesmen, neat, lifelessly, [ with ] little, captive eyes watching for failing # 8221 ; depicted in an intercalary chapter are model members of those who abuse the system ( Steinbeck 83 ) . These criminals, illustrations of illimitable capitalist economy fueled by selfishness and greed, are able to feed on the vulnerable migrators because the mandating power set no limitations against such unfair monopoly. Similarly, the force that denigrates childhood in There Are No Children Here could be prevented if the authorities enforced Torahs against such ferociousness. Unfortunately, roseola and illegal pack concern is transacted with impunity in the Henry Horner Homes country daily because no 1 bothers to modulate illicit activity. Another illustration of maltreatment ignored by the governing power is when # 8220 ; the bank told [ the landholders ] . . . # 8216 ; You # 8217 ; re paying 30 cents an hr. You # 8217 ; d better cut it down to twenty five # 8217 ; # 8221 ; instantly followed by # 8220 ; # 8216 ; You traveling to necessitate the usual sum for harvest loan next twelvemonth? # 8217 ; # 8221 ; ( Steinbeck 402 ) . No influen tial force intervenes because the use is viewed as an application of a capitalist tenet, â€Å"the jurisprudence of supply and demand.†Consequently, the Bankss continue to profit from the forced ill-treatment of the hard up nomads. Because the capitalist government advocates the benefit of the person, non the common province, underprivileged people’s demands are frequently ignored. The writers allude to socialism when their despairing characters, enveloped in indigence, congregate to guarantee that all basic demands are met. When a newborn Oakie babe # 8220 ; got worms. . . an # 8217 ; he died. . . from non acquiring # 8217 ; good things to eat, # 8221 ; the compassion of the community shined despite the calamity as # 8220 ; a small pile of Ag grew # 8221 ; in forepart of the parents # 8217 ; collapsible shelter, therefore supplying a nice entombment for the babe ( Steinbeck 326 ) . Likewise, when LaJoe # 8217 ; s welfare benefits are cut off, # 8220 ; one of her sisters gave her $ 65 worth of nutrient casts [ and ] Rochelle supplied her with some nutrient # 8221 ; ( Kotlowitz 101 ) . Her household and friends # 8220 ; were non much better off than she # 8221 ; ; they sacrificed to supply plenty for her household # 8217 ; s endurance ( Kotlowitz 101 ) . Even though poorness was omnipresent, the altruistic generousness of people in these two epochs prevails. In the thick of want, households and neighbours adhered to the humanist construct of sharing as a agency for common endurance. The benevolence of one person can besides impact the well being of an full society. Out of goodness, Craig Davis would dee-jay illumination dance parties on the porch of the Horner complex that gave the occupants # 8220 ; some of the most self-generated and spirited merriment they had of all time had at Horner # 8221 ; ( Kotlowitz 123 ) . He entirely provided enjoyment to the people # 8217 ; s black lives. Rose of Sharon, after digesting the migration from place, the flight of her hubby, and the decease of her unborn kid, puts aside these sufferings and unabashedly offers a ravenous adult male the milk from her chest. Despite her old modestness and overpowering problems, Rose gives portion of herself to salvage another. The writers include scenes that show selflessness and the characters # 8217 ; concern for the common good, cardinal facets of ideal socialism, to demo that in the defects of capitalist economy, despairing people open their Black Marias to socialist inclinations. The usage of guiltless people as victims of cold capitalist economy and ignorant boosters of the rules of socialism proves effectual in both novels. Neither Steinbeck nor Kotlowitz straight oppose capitalist economy and advocate socialism in their narratives, but instead discretely show the two ideals to act upon the reader # 8217 ; s ideas about each system. Both writers are cognizant that non all readers will hold with malign towards capitalist economy. Steinbeck even displays small Ruthie # 8217 ; s love of personal belongings: when she was instructed to portion the # 8220 ; geranium gone wild # 8221 ; with her brother, she # 8220 ; felt how the merriment was gone # 8221 ; because she wanted the flower for herself merely ( Steinbeck 616 ) .
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