Research Topics: Virgin Group Papers

CORPORATE GOVERNANCE

Introduction In recent years, considerable attention has been devoted to differences across countries in the institutional environments in which corporations operate, and the consequences of these institutional differences for corporate performance. One branch of this literature has been concerned with corporate governance structures. Under the broad heading of corporate governance, different concepts are usually included one is the identity and degree of concentration of ownership, another is the institutional structure by which owners monitor and control managers by means of boards of directors and the like, and lastly the institutional structure for disciplining and replacing managers as, for example, through proxy contests and/or takeovers ( 2003).  A second branch of the literature focuses upon the broader legal environment in which corporations operate. Within this literature would come laws governing a shareholder’s access to various sorts of information about a company, a shareholder’s rights to sue the management for certain actions detrimental to the shareholder’s interests, and so on.    Although corporate governance structures are imbedded within the broader legal system of a country and thus are affected by it, the two sets of institutions are not synonymous, as we shall explain shortly. One distinction drawn within the corporate governance literature is between insider governance systems in which ownership stakes are concentrated and the major stakeholders are directly represented on the boards that monitor managers, and perhaps in management itself, and outsider governance systems in which ownership stakes are dispersed, and owners exercise indirect control on management by electing representatives to the monitoring boards, or perhaps by voting on specific proposals of management ( 2003).   Corporate governance has something to do with the standards of behavior and conduct expected from directors and other senior executives in directing and controlling the affairs of a company. It is the relationship among various participants in determining the direction and performance of corporations. The central concern of governance is to add value to as many organizational stakeholders as is practicable that by having appropriate standards of governance the long-term performance is raised and total shareholder return is enhanced. Some of the more notorious and spectacular examples of defective and damaging corporate governance in recent years in the UK include: the attempted takeover of the CWS; the crash of Barings Bank in 1995; the so-called dirty tricks campaign waged by British Airways against Virgin Airlines during 1993; the failure of the Bank of Credit and Commerce International (BCCI) in 1991; the underwriting irregularities at Lloyds of London; the collapse of Polly Peck in 1991 involving financial irregularities that were not revealed in the company’s accounts; and the loss of employee pension funds at Maxwell Communications Corporation which were only revealed when the company collapsed in 1991. In the US there has been the collapse of Drexel, Burnham, Lambert as a result of insider trading and fraud, the collapse of the savings and loan (S&L) industry and the attempts by Salomon Brothers’ to rig the US Treasury bill market are just a few examples (1999). The paper will discuss about limited liability and its relation to corporate governance. The paper will also discuss about the absence of offensive shareholder intervention as being detrimental to the public interest. The paper will then analyze the general trend of the international corporate governance.   Limited liability Shareholders in companies limited by shares are liable to contribute only a limited amount to its assets. The minimum amount of the contribution is the par value of the shares that is the value ascribed to the shares in the company’s constitution but where shares are issued at a price higher than the par value then the required contribution is par value plus the premium. Limited liability does not follow automatically from the principle of separate legal personality.  If it did, then unlimited companies in which the shareholders are liable to contribute to meet the company’s debts in full could not exist. Corporate personality means that the company, not its shareholders, is the person responsible for the debts of the business. The extent to which the company can require its shareholders to provide the finance to meet the liabilities of the business is a logically distinct issue. People who lend to companies also have limited liability: they, too, are liable to contribute no more than the principal amount that they agreed to lend. The basic distinction between the shareholder and the lender is that, whilst both contribute a fixed amount, only the shareholder hopes for capital gain in respect of the investment. Limited liability encourages entrepreneurial activity because it allows people to limit the risks involved in conducting business. This is the main function of limited liability in quasi-partnership type companies where raising share capital from persons other than the controllers of the business, or their families, is not normally a realistic option ( 1999).   The importance of this aspect of limited liability should not be over-stated because in a real-life situation it is likely to be whittled away by unlimited personal guarantees which some providers of debt finance to the business may demand from its controllers. To the extent that personal guarantees are given, contractual stipulation overrides the limited-liability position established by company law. Yet not all creditors of the business will be in a position to demand personal guarantees. Some will lack the necessary bargaining strength whilst others may have no opportunity to bargain because they are the victim of a tort committed by the company. The controllers can thus still derive some benefit from limited liability.   Limited liability facilitates passive investment or the investment on the basis that the investor will not play a part in management. Provided there is a prospect of an adequate return for the risks involved, an investor may be prepared to allow someone else to run a business using his money where there is a cap on the amount that he stands to lose if management fails. Without such a cap a prudent 90 investor might be disinclined to invest in shares at all or, at least, would expect a very high return to compensate for the risks involved. The investor might also want to monitor more closely the way in which the managers of the business conducted its affairs, and that would lead to additional costs ( 1999).  Corporate governance makes sure that limited liability is implemented by the company and that the level of liability is maintained.     Absence of shareholder intervention and the public interest Complaints are heard that shareholders fail to monitor managers. Managers build empires and pursue bad strategies without shareholder intervention until matters are so out of hand that the ultimate outcome is the violence of the hostile takeover or the bloodshed of a fired CEO or the instability of the leveraged buyout or the waste of a bankruptcy. Many 1980s takeovers targeted firms grown too large, which the takeover entrepreneurs then broke up. In other 1980s takeovers, empire-building firms sought to extend their grasp. Either way, persistent shareholder involvement could have led to intervention before bloodshed ( 1994).   In corporations the absence of offensive shareholder intervention is detrimental to the public interest, therefore it is necessary for the state to monitor and regulate corporation activity. There can be instances wherein shareholders can be uncaring or does not want to intervene in the affairs of the company. When this happens a company loses its guidance and the drive to achieve the goal minimizes. Another thing that can happen when there is no shareholder intervention is public interest detriments. The state should make sure that it will be the one to guide a company and check its every activity so that public interest in will not decrease.   Trends in the international corporate governance In recent years major changes in corporate governance have been underway. Collaboration with stakeholders is now occurring as they gain power and because managers need their support. Institutional investors have become more involved in the management of large corporations, including ‘ethical investors’. Employee participation, often in the form of shareholding, has grown significantly, especially in the USA. Feminist moves are becoming more influential in business, thereby bringing cooperative, community-oriented values into management practice. Other social constituencies have gained influence in recent years: relationship marketing to build trust and commitment with customers in long-term relationships; partnership agreements with suppliers and government; voluntary moves to protect the environment; and so on ( 2001). Corporate governance is becoming more of cooperation between management and the employees wherein both are giving something so that the goal of corporate governance will be achieved. Corporate governance is also becoming group oriented than individual oriented. Managers are starting to realize that they can’t solely manage a firm; they need the assistance of employees and in certain instances the shareholders of the company. Managers need the ideas of other persons so that operation will run smoothly. References Credit:ivythesis.typepad.com

CORPORATE GOVERNANCE

Introduction In recent years, considerable attention has been devoted to differences across countries in the institutional environments i...

MANAGING PHYSICAL RESOURCES

Resource Plan in British Virgin Islands Health Sector   Introduction Resources come in many forms. “The money resource refers to what an organization has plus what it can receive through grants, donations, entitlements, credit financing or long term borrowing. The equipment resource can vary from a basic computer to an MRI; it enables the organization to perform certain tasks. In addition, the organization also needs methods or policy and procedures, which are its “how-to” systems. The organization must also take account of time, the question being whether we have time on our side or whether the task must be performed now. Time, of course, is the one resource that can never be recaptured. Finally, the organization must take account of space; this involves the location decision which is sometimes referred to as site control, and concerns the physical geography or environment that is needed to perform or provide services.” (, 1992) The critical resource management decision problem is that of allocating scarce resources amongst competing activities under the restrictions of a variety of constraints, both physical and administrative in character. Scarce resources may be workforce, capital, raw materials, energy, machine capacities, space, and by-products.   The provision of quality health care is increasingly demanding on physical resources such as buildings, equipment, and supply systems. Appropriate building and equipment are the major motivation factor for health workers.   The following are the physical resources to be considered to best support program goals and objectives of health care services. <ul style="margin-top: 0in; margin-bottom: 0in" type="disc"> <li class="MsoNormal" style="text-align: justify; line-height: 200%"> Environment (space), structure </li> <li class="MsoNormal" style="text-align: justify; line-height: 200%"> Utilities, services, such as oxygen, suction </li> <li class="MsoNormal" style="text-align: justify; line-height: 200%"> Office equipment and supplies </li> <li class="MsoNormal" style="text-align: justify; line-height: 200%"> Ward equipment and supplies </li> <li class="MsoNormal" style="text-align: justify; line-height: 200%"> Medical equipment and supplies </li> <li class="MsoNormal" style="text-align: justify; line-height: 200%"> Safety, security, emergency policies, procedures </li> <li class="MsoNormal" style="text-align: justify; line-height: 200%"> Medications, therapeutics </li> </ul>   The paper attempts to provide a resource plan for physical resources needed in the health care sector in British Virgin Islands.               Managing Resources   Health Care Physical Resource Analysis in British Virgin Islands British Virgin Islands provides district clinics or private doctors to provide prenatal care to pregnant women in which appraise hemoglobin levels, treat anemia, perform VDRL tests, and administer tetanus toxoid. District clinics provide a full range of child health services, including growth and nutritional monitoring, development assessment, treatment of common illnesses, counseling, school health, vision and hearing screening, and screening for anemia, including sickle cell anemia. In addition, there is a 12-slot facility, Fort Charlotte School, in which cater with the special needs of children run by the Department of Education. Special attention is given to children with Down’s syndrome, cerebral palsy, physical disability, autism, and attention deficit disorder. There is also a community mental health center in Road Town in which provides most of the ambulatory care for the territory. Its approach emphasizes treating individuals in their community, including monitoring and administering medication, providing family counseling, and promoting self-care.  In addition, there is a medical ward in Peebles Hospital for psychiatric patients. There are only two secured rooms on the medical ward and non-disruptive patients are admitted on the general medical ward. There are no psychiatric nurses on staff and quarters are cramped. In 1995, a drug rehabilitation facility was opened within walking distance of the community mental health center. Road Town Health Center and Peebles Hospital support district clinics. Catchments populations for district clinics range from 141 persons at the Jost van Dyke Clinic to 9,106 persons at the Road Town Health Center on Tortola, numbers augmented by tourists and temporary residents, such as yacht dwellers. The Road Town Health Center serves as a referral point for the district clinics and includes a family planning service. Other primary care facilities available include a drug-treatment center, a community mental health center, and a dental unit, all of which provide services that are not routinely available at district clinics. The drug-treatment center and mental health center are based in Road Town. Moreover, in Tortola, there is a 50-bed Peebles Hospital which is the main provider of secondary care and is administered by the Government. It offers surgical, obstetric, medical, pediatric, and psychiatric care on an inpatient basis. All service areas are covered by local doctors, except for psychiatry, which is served by a part-time consultant psychiatrist based in Barbados. Clinical support includes physiotherapy, x-ray, and laboratory services. The Community Mental Health Center also provides psychiatric service on an outpatient basis. In Road Town, there is a three-chair dental unit. There is one dental chair in Virgin Gorda and one in Anegada, where services are provided one day per week and one day per month, respectively. Government oral health services mainly treat children; the dental officer treats adults in private clinics part-time on a split-fee basis with the Ministry. Furthermore, there is an active and well-established private health sector. An eight-bed clinic performs reconstructive, general, and hand surgery, and had an annual average of 354 patients during the review period. There are two private dental clinics in Road Town. In addition, there are several private medical practices; the two largest are located in Road Town, and one has a branch in Virgin Gorda. Both centers have a pharmacy and mammography, ultrasound, and x-ray diagnostic equipment.   Physical Resources Requirement Implicit in the definition of an organizational field is the importance of attending to the environments – local as well as societal – in which organizational populations function. ,  and  (forthcoming) differentiate environmental factors into two analytic categories: those pertaining to the material resource environment, including factors involved in the demand for and supply of medical services as well as the competitive structure of the industry; and those pertaining to the institutional environment, in particular, the identities of organizational and field-level actors, and the logics and governance systems that operate in the field. As defined by  and  (1983: ), a field consists of “those organizations that, in the aggregate, constitute a recognized area of institutional life: key suppliers, resource and product consumers, regulatory agencies, and other organizations that produce similar services or products.” Health economists have analyzed dynamics on the demand side in terms of market segmentation (, , and , 1993). Demand has been shown to reflect differences in demographic characteristics and ability to pay; supply-side differences are evident in physician density and market concentration of organizational providers ( and , 1985; , 1988). Aside from these resource bases, industry structure – the number of buyers and sellers and the ways in which they are related to one another – also greatly affects the flows of resources, their exchange and consumption, within a field. “Between 1992 and 1995 there were 1,208 hospital deliveries, an average of 302 annually. Between 1992 and 1995, an average of 84 deaths were registered annually in the British Virgin Islands. About 6 % of them were coded as ill-defined conditions. Diseases of the circulatory system accounted for 36% and malignant neoplasms for 18% of all deaths. External causes accounted for 7%, conditions originating in the perinatal period for 8%, and communicable diseases for less than 5% of the total.” (, 2007) British Virgin Islands has an estimated population of 23,098 as of July 2006 with an average of 14.89 births per 1,000 population and a growth rate of 1.97 per cent (, 2007). Hospital and clinics requirements increases with the continuous increase in population. Medical care in the British Virgin Islands consists of a small general hospital with an emergency room staffed 24-hrs/day by physicians, several clinics on Tortola, and one clinic in Virgin Gorda.  Both islands are served by ambulances staffed with paramedics.  There are no medical facilities on the other islands.  A volunteer organization, Virgin Islands Search and Rescue (VISAR), responds 24-hrs/day to medical emergencies at sea or on outer islands.  VISAR transports casualties to the nearest point for transfer to ambulance.  To reach VISAR, dial SOS (767) or call on Marine Channel 16.  There is no hyperbaric chamber in the BVI.  Patients requiring treatment for decompression illness are transferred to St. John, U.S. Virgin Islands.  Most sensitive medical cases are transferred to San Juan, Puerto Rico. It has been noted that British Virgin Islands lack the physical resources in order to assess the health care requirements of the population of the country. They lack facilities in order to cater some illness.   The territory has a vigorous private health sector, encompassing both inpatient and ambulatory care. However, many residents also go off-island for health care, mainly to the United States Virgin Islands or Puerto Rico, either through choice or because they require specialized care unavailable locally.   Monitoring The Ministry of Health and Welfare is responsible for providing public health and social services, as well as for monitoring and regulating private sector providers. The Minister in consultation with the Director of Health Services and the Permanent Secretary makes policy decisions. The Director of Health Services is charged with the day-to-day management and planning of health services. The Permanent Secretary is responsible for the administration of the Ministry headquarters and for supporting the Minister in his policy role. The Public Health Department is responsible for managing government health services. The Department is organized into hospital and primary health care services; each is headed by a senior manager who reports to the Director of Health Services. Budgetary responsibility is devolved to the heads of the respective units.   Mandatory Compliance Laws dealing with safety, health, and accessibility for physically impaired persons, and other regulatory issues, are evaluated and proposed projects placed in the compliance strategic facility plan for future consideration and funding. Remodeling and new space also increased safety, health, and with Disabilities Act compliance   Community Involvement Research on motivational factors involved in staffing voluntary community organizations suggests that people participate in these organizations when they perceive social and environmental problems within a community to which they are attached and find organizations that they expect to be successful in mitigating these problems ( & , 1990;  & , 1984). Such studies have found that participation in community groups is significantly related to three types of benefits (personal, social, and purposive) and their corresponding costs (, , , , & , 1990). Moreover, members’ sense of individual and collective self-efficacy, and thus their motivation to participate, is enhanced when these organizations are empowered by successfully influencing actions taken by the community. Thus, encouraging community participation can lead to community commitment which would also lead to effectiveness of the projects and programs.   Managing Financial Resources Funding The Government almost wholly finances public health services. However, there still some organizations that are committed to funds programs for the welfare of the citizens such as the Community Foundation of the Virgin Islands which is committed to using resources from unrestricted sources to fund innovative programs and projects that show promise of developing into longer-term responses to the needs of children and families in the Virgin Islands   Budgeting for Hospital Equipments The table below shows the estimated costs of the equipments for the clinics and hospitals to be constructed in British Virgin Islands.   Table. 1. Estimated Costs for Equipments Type of Equipment Total Cost Facility , 990,000 Technology ,000,000 Capital 0,000,000 Total 6,990,000     References Credit:ivythesis.typepad.com

MANAGING PHYSICAL RESOURCES

Resource Plan in British Virgin Islands Health Sector Introduction Resources come in many forms. “The money resource refers to what ...

RELIGION AND ITS FUNCTION IN THE SOCIETY

Religion and its function in the Society Religion is commonly understood as the set of beliefs and practices held by a community or group. As a belief system, it affects the values, customs, rites and the behavioral patterns of its followers. Religion may affect the individual, the community and the nation in general. It plays a crucial role in the society.             The primary function of religion in the society is to explain to the people their origins, the nature of life, the functions and purpose of life and the reasons for their existence. In the past, it is used as a control mechanism or a way of obtaining order. Religion may dictate a set of accepted standards and those who wants to remain in that society must practice adherence to those standards.             The most fundamental aspect in all religions is the concept of relationships. This relationship may be physical or spiritual, real or imagined. Devotee can communicate in formal and organized manner as with a priest or a shaman. Communication can also be informal where the individual can communicate anytime. In this regard, individuals rely on religious objects. Beliefs and values are also essential to the religion. The values that a society holds are often incorporated to those of the religion. Together they form the morality of the society. This morality is reflected in the laws and regulations governing the community.             Religion can be considered as a social process which results from the human minds and social entities that are passed down from generation to generation. As a product of the society it is related to other social products including politics, economics, law, music and art. However, it has its own power which when born can develop and generate rules. Generally, it is only essential to the people belonging to the community or culture where the religion existed. Religion is transferable from culture to culture although the process is difficult.             Most religions tend to focus of the figure of God while others have more than one God either as an object or subject of worship. The dependence on religious symbols is prevalent in all religions as with the belief in the reincarnation or the life after death. Religious practices are varied due to the diversity of cultures and the direction human chose in order to make sense of the world. There are practices that are written in documents that serve as enlightenment to the follower. For the Christians there is the bible, the Vedas for the Hindus, the Talmud for the Jews, the Koran for the Muslims and Confucian writings for the Chinese (, 1999).             Religions also hold the presence of a divine creator that existed in a world of suffering and pain. They have introduced an evil being or an adversary to the God. The Judaeo and Christian Religions have a Satan, in Hinduism they have the Ashi and Shiva, and Buddhism has Mara and some mischievous figures in other African religions. In addition to this, most of the religions also give importance to the concept of death and burial. People greatly differ in the treatment of this phenomenon but hey view it as a significant social event             Indeed, world’s religions differ in some aspect but also share certain commonalities. While they may have different sets of values, beliefs and practices, these religions ultimately contribute to man’s understanding of his world and the formation of the society. The Development of Hinduism           Hinduism originated in the Indian subcontinent. Its origins are traced back from the vedic civilization and have no known founder. Hinduism provides a wide range of scriptures which expound on theology, philosophy and mythology. Among these scriptures, Vedas and the Upanishads are considered to be the foremost in importance. Among the prominent themes of this religion are the Dharma, Samsara, Karma and the Moksa.             Over time, the beliefs and practices of the people who migrate in the continent took up residence and interacted so that the modern tradition is a mixture of influences brought together. The Aryans became the dominant forces in northern India and gradually their influences spread to the south. The indo Europeans were nomadic, pastoral people and their religious practices were transferable. When they arrived in India, they took with them the sacred language of Sanskrit, a belief in the deities, religious practices centered on fire practices and a hierarchal social structure. The earliest religious compositions are the Indo European texts called the Vedas.             The word veda meant knowledge and the information contained in the texts are necessary in performing sacred fire rituals. Each of the vedic collections has three kinds of additional material. The first is called the Brahmanas which describes the rules for rituals and provides explanation for their purpose and meaning. The second are the compositions of the forest or the aranyakas which supplements the Brahmanas focusing on the rites. Finally, the Upanishads which further developed the ideas of the aranyakas by explaining the true nature and meaning of the rituals when the focus is shifting away from the performance towards knowledge.             When the Upanisadic religion (Brahmanism) evolved out of the Vedism (Brahmanism), it has fallen to the same exclusivity that may have called it into existence. While suffering is alleviated with mediation and the samadhi, the results are rather temporary. Permanent conditions are possible only for those whose guna nature fits the yoga of knowledge that leads to moksa. Brahmanism identified the causes of samsara as ignorance and the desire with stress on the former. Since ignorance can be overcome by knowledge and that ability depends on the guna nature, the way to knowledge and release form the samsara would be the exclusive prerogative of the Brahmins (, 1991, ).             The discussion of Hindu views of self is completed in consideration of two familiar notions, karma and yoga. Karma is often associated with fatalism and reincarnation and yoga practiced to improve health and well being. The law of karma guarantees that since actions produce consequences, no effort is in vain. Therefore the right efforts rightly applied yield right results and the appropriate yoga rightly applied leads to the expected results. The Gita tells the sufferer that the prescription given to solve the problem by treating the causes is guaranteed to work because the entire process is in the hands of the powerful person or principle. Generally, this principle is the law of karma and that person is the Lord Krsna. He possesses extraordinary powers and that power gives him the ability to annul the effects of karma thus making him more powerful than karma itself (, 1991, ). Buddhism             Buddhism is a dharmic religion and philosophy. It is also known as the Buddha Dharma or Dhamma. Buddhism denies the existence of a creator God but recognizes the existence of supernatural beings such as gods and spirits. Buddhists in Asia do not use the term ‘Bhuddism’ to refer to their religion and refer to it as the Dharma (law) or the Buddha-sasana (teachings of the Buddha). The foundation of the Buddhist ethics is the belief in the sacredness of life. This ideal was promoted by the unorthodox renouncer movements such as the Buddhism and Jainism. Animal sacrifice was rejected by both as cruel and barbaric (, 1999, ). The core doctrines are contained in a series of interlinked propositions known as the Four Noble Truths. The ultimate goal of Buddhism is to end suffering and rebirth.  An individual who completes the state of self realization is said to achieve nirvana which is considered to be the final and highest good. The truth perceived by Buddha during his enlightenment was set forth in his sermon which includes interlinked proposition known. The Four noble truths assert that (1) life is suffering, (2) suffering is caused by craving (3)suffering will have an end and (4) there is a path that leads to the end of the suffering (, 1993, ).               The truth of suffering is supplied with Buddha’s vision of three of the four signs- the old man, the sick man and the corpses and the realization that life is full of all kinds of sufferings and unhappiness. Although the place life was comfortable, Buddha yearned for spiritual satisfaction. This disaffection is represented in the four visits of Buddha outside the palace. . Buddha encountered an old man and was struck by the discovery of old age. In the second journey, he encountered a sick man and in the third a corpse being carried to the cremation ground. With these experiences, he realized the passing nature of human existence and that nothing can keep suffering and death. On the fourth trip, Buddha encountered a religious mendicant and was inspired with the idea that he can seek spiritual solution to the problems of humans (, 1993, ).           The eight fold path is known as the ‘middle way’ because it guides the direction between the life of indulgence and that of harsh austerity. It is composed of eight factors that are divided into three categories of morality, mediation and wisdom. These define the limitation of human good and determine where the scope for human flourishing lies. In morality, the virtues are perfected while the intellectual virtues are developed in the category of wisdom             This eight fold path exemplifies the ways in which morality, wisdom and mediation are to be developed continually. Right View means the acceptance of the Buddhist teachings. Right Resolve means committing to the development of right attitudes. Right Speech means telling the truth and speaking in sensitive way. Right Action means abstaining from wrongful behaviors while abstaining from occupations harmful to others is referred to the Right Livelihood. Right Effort means talking control of one’s thought and developing positive state of mind. Right Mindfulness is the cultivation of constant awareness while Right Mediation is the development of a deep sense mental calm (, 1996, ).     Taoism and Confucianism           Confucianism was started by Confucius who explored and elaborated on the principles of what was to become Confucianism. The co existence of Confucianism with other religions has enabled the Confucians to engage in dialogue with many different doctrines. One of the aspects of Confucian religion is collective rituals. Individual Confucians engage themselves in a set of spiritual practices in which a sense of eternity is sought in the pursuit of secular learning and discipline (, 2000, ).             The Confucian understanding believes that the world is sustained by three ultimate (sanji), which are also called the three powers of the universe (sancai); tian (heaven), di (earth) and ren (humans). These three powers work together so that heaven and earth and humans are the origins of all things. The heaven generates them, earth nourishes them and humans perfect them (, 2000, ). Confucian masters focus on how to apply the principles that govern heaven and earth to human life and society and how to find the Way to maintain a harmonious world. Taoism is the most distinct contribution of the Chinese in the religious thought. It teaches harmonious living with the universe. The Tao of a man is to be natural and not to live artificially. This is the quietism of Taoism and in this regard, it opposes Confucianism with its rules, morality and artificial knowledge ( & , 1963, ). Its teaching is against the imposed rules and in favor of inward peace. The wise man that rules through the Tao allows spontaneous development. He works by wu wei, non action activity. If there is difficulty ion governing the people, it is because of their ruler’s interference and if they are left alone they would be naturally good. This teaching assumes that he others will be influenced by the wise men though his example and no words. Taoism is both religious and moral. It identifies Tao with heaven and illustrates the union with Tao makes the spirit immortal. The things showing Tao’s greatness are kindness, frugality and service.             Zen is the Japanese form of the Chinese word Ch’an and Sanskrit Dhyana which means meditation. It refuses to base itself in scriptures and has a low view of book learning. In Zen monasteries, sacred texts are recited and one of the most popular is the Kwannon. Zen adept seeks enlightenment which is said to come like a flash of insight. It became the inspiration of Japanese military classes mainly because discipline appealed to the soldiers ( & , 1963, ). Japan also has its ancient indigenous religion called the Shinto. It was not literate until the Chinese came and then the Japanese with their flair of adaptation lent heavily on Buddhism and to some extent Taoism and Confucianism. The sanctuaries of Shinto are surrounded by trees on hills or near the sea expressing the love of nature which is characteristic to the Japanese. The most effective and influential of Shinto movements are the sectarian or church organizations that have grown to the modern times. Some of these sects are referred to as the Pure Shinto because their teachings are traditional. They engage in pilgrimages and some in magical practices, faith healing and walking in fire. The largest are the faith healing sects which have historical founders, sacred scriptures and are influenced by Buddhism and Christianity ( & , 1963, ). Judaism, Christianity and Islam           The great stream of religious thought that came from the Western word arose in Palestine and Arabia. Judaism and Christianity and then Islam that are great monotheistic religions believed in one God and in his righteousness and universality.             Judaism is the religious front from which Christianity and to some extent Islam derived their view of God and the universe. During the twelfth century A.D. Moses Maimonides set out the thirteen articles of faith which became the accepted covenant of Jewish beliefs. First is the faith in God as the creator, his unity, formlessness, eternity and all knowledge. He alone must be worshipped. Then comes the belief in the words of the prophets, in Moses as the chief of the prophets, belief in the Law (Torah) and the belief in its changelessness. Lastly, there is the belief in the rewards and punishment, in the coming of the Messiah and the resurrection of the dead ( & , 1963, ).              Christianity is the largest of all the religions. It centers on the life and teachings of Jesus of Nazareth which is presented in the New Testament. Christians believed Jesus as the Son of Goad and the Messiah prophesied in the Old Testament. Among its largest Christian organization is the Roman Catholic Church. It stresses a great place of devotion for the virgin Mary. There is similar devotion in the Eastern Orthodox Churches but these doctrines have not been decreed. Protestant and Anglican churches have rejected this devotion. The Roman Catholic worship centers in the mass. It is fundamentally the Eucharist or the Holy Communion which other churches celebrate in memory of Christ’s crucifixion ( & , 1963, )           Muhammad, the founder of Islam lived in Arabia during the sixth century A.D. Even before his time, Mecca has been a place of pilgrimage containing idols of pagan gods and goddesses although there was no religious literature before his time. The religion taught by Muhammad is called Islam which meant ‘surrender’ (to God), ‘submission’ and ‘resignation’. The follower of Islam is called Muslim and he is a surrendered man. The name for God, Allah simply means ‘the God’ and is best rendered to the English word God because it is close to the Jewish and Christian usage ( & , 1963, ).             The Quoran is considered by the Muslims as eternal and the uncreated word of God. So holy this book, no criticism of it is allowed. In fact it is believed that Quoran holds the place in Islam that Christ holds in Christianity as the living word of God. The principal religious teachings of the Islam are in the five pillars foundations: Witness, Prayer, Alms, Fasting and Pilgrimage. The Witness is the confession of faith represented in the formula which makes a Muslim. Prayer is performed by Muslims five times daily and is observed regularly. One of the religious duties is almsgiving to the poor and the mosque. No collection of money is doe for the mosque services but people give money to the needy. Fasting is obligatory on all adult and healthy Muslims during the day hours in the month of Ramadan. And lastly, Muslims must be performed the pilgrimage to Mecca at least once in their lifetime ( & , 1963, ). References Credit:ivythesis.typepad.com

RELIGION AND ITS FUNCTION IN THE SOCIETY

Religion and its function in the Society Religion is commonly understood as the set of beliefs and practices held by a community or group...

Assignment 5

Assessment Exercise 2 Ecotourism according to (1999) has grown because of the dissatisfaction with conventional forms of tourism which have, in general sense, ignored social and ecological elements of foreign regions in favor of a more anthropocentric and strictly profit-centered approach to the delivery of tourism products (30). As a form of alternative tourism, ecotourism has roots which trace back to earlier times where the environment, and how we transformed it, was garnering a great deal of concern from a small circle of committed individuals. Depending on one’s perspective, many of the issues most pressing in ecotourism today are those which have been identified in the environmental literature of the past, including capacity building for individuals, control and self-sufficiency for communities, and avoidance of wasteful natural resource consumption (2002).   Ecotourism in Australia The Ecotourism Association of Australia includes in its definition of ecotourism fostering environmental and cultural understanding and appreciation. There is an acknowledgement that culture and heritage are both parts of the landscape. Ecotourism is widely considered, both in Australia and overseas, as an important niche market with a particular range of experiences sought by particular visitors, and as a catalyst for encouraging the tourism industry to be ecologically sustainable (2002). In Australia, a National Ecotourism Strategy has been formulated, complemented by some initiatives at the state level. An International research center in ecotourism has been established and a National Ecotourism Association formed. A number of international conferences have been organized, and strong moves are being made towards a national ecotourism accreditation scheme. This is essential because the growing demand for tourism based on Australia’s natural and cultural heritage is leading to a rapid increase in the number of such operators and establishments. This in turn places pressure on sensitive environments and communities, including indigenous groups (2000).   Issues Environmental awareness does not only concern industrialized countries like Australia. Less developed countries are also interested in achieving economic growth in order to increase the welfare of the population while causing the least possible damage to the environment (Butler and Pearce 1999, p.177).   The Issue of Sustainability Ecotourism can form the cornerstone of development plans at the local, national and regional levels. Such tourism is purported to be ethical not only in terms of distributive justice, but also in the sense that success is critically dependent on ensuring that the rights of indigenous people are respected (2003).           Less Developed Countries Environmental Issue – one of the serious impacts of ecotourism is the usurpation of virgin territories such as wildlife sanctuaries, national parks, and other wilderness areas, which are then packaged as green products for ecotourists. Social Issue – with the establishment of national parks, wildlife sanctuaries and other protected areas for conservation and tourism purposes, locals have in many cases lost their homes and livelihood, often without any compensation. Other social issues such as changes of behaviour and values, especially among local youths, prostitution and AIDS, spreading fast from mass-tourism centers to eco-tourism destinations, have been studiously avoided in eco-tourism discussions. Cultural Issue – ethnic groups are increasingly seen as a major asset, an “exotic” backdrop to natural scenery and wildlife. What has been in general ignored is the fact that the very same people have often been the targets of a consistent policy of suppression and exploitation by the dominant social groups in nation states. Whilst eco-tourism attempts to fully integrate indigenous communities into the market-driven economic system, it keeps them as “archaeological” pieces to stimulate the tourists’ nostalgic desire for the “untouched”, “primitive” and “savage”. Worse, irresponsible eco-tourism promotion features photographs and descriptions of ethnic women, giving credence to the false notions that they are willing and available to be discovered by tourists. Australia Socio/Cultural Issue – In Australia and other countries around the world, there is an existing significant degree of incompatibility between parks and aboriginal people. The relationship between parks and aboriginal people has often been one based on conflict, and stems from the physical displacement and socio-economic fragmentation of aboriginal people (Fennel 1999, pp.223-224). For tourism development to be successful, aboriginal people must be allowed to take control of it despite the social and political forces that often work against them. Stakeholder Involvement Increasingly, planners and developers are realizing that policy must involve the many stakeholders who stand to be impacted by ecotourism development. Some of these groups include protected-area personnel, local communities, the tourism industry, NGOs, financial institutions, consumers, and national ecotourism councils. The Australian National Economic Strategy is trying to implement stakeholder participation in ecotourism (Fennel 1999, p.140).                   Assessment Exercise 1   The key issue that was presented in the collection of case studies was sustainable tourism development. Sustainable tourism development meets the needs of present tourists and host regions while protecting and enhancing opportunities for the future. It is envisaged as leading to management of all resources in such a way that economic, social and aesthetic needs can be fulfilled while maintaining cultural integrity, essential ecological processes, biological diversity and life support systems ().   Sustainable tourism development is aimed at protecting and enhancing the environment, meeting the basic human needs, promoting current and intergenerational equity and improving the quality of life of all people. Accordingly, sustainable tourism development is fundamentally concerned with meeting the needs of the tourists and host regions while protecting and enhancing opportunities for the future and this requires resources to be managed in such a way that we can fulfill economic social needs while maintaining cultural integrity, essential ecological processes, biological diversity and life support systems.   Ecotourism can achieve both conservation and development. The community can earn money from tourists appreciative of the natural environment, and this money can support the community in their existing way of life. The direct benefits to the local populations concerned may include the opportunity to work in conservation, salaries paid from aid funds, revenue from ecotourism, and sometimes infrastructural benefits such schools and medical facilities. Ecotourism seeks to preserve the environment while benefiting the local people.   Less developed countries attracts tourists because of their natural and cultural attractions.Governments and their tourism boards, along with private enterprise project an image of a destination, and particularly of its natural environment, as something there to be discovered and enjoyed by tourists from industrialized nations.   Community tourism involves genuine community participation and benefits. It is only putting people at the center of the picture that true conservation solutions will be found.   Ecotourism involves travelling to a destination in order to understand the culture and natural history of the environment. It seeks to maintain the integrity of the ecosystem and at the same time create economic opportunities to make conservation of natural resources beneficial to local people.   However some consider ecotourism as merely a marketing concept attached to almost any tourism product to attract those sympathetic to environmental causes. For others, true ecotourism must contribute to the maintenance and enhancement of parks and protected areas, the well-being of resident communities and environmental education.   Another key issue is the impact of ecotourism on the local community, culture, heritage and nature.   Sustainable tourism involves a challenge to develop quality tourism products without having unfavorable effects on the natural and cultural environment that sustains and cultivates them. At the core of sustainable tourism is a set of embedded values related to motivated activities to integrate economic, social and cultural goals. Credit:ivythesis.typepad.com

Assignment 5

Assessment Exercise 2 Ecotourism according to (1999) has grown because of the dissatisfaction with conventional forms of tourism which h...

Fantasize in the Bedroom

Fantasize in the Bedroom

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CRITICAL ANALYSIS ABSTRACT PAPER

The Virgin Group which was created by  pursued the best quality and craftsmanship in terms of products and services. Its dedication to quality for almost three decades has led to the satisfaction of millions of its customers worldwide. Moreover, it practices a centralized and globally scaled configuration of operations and capabilities. Branson’s consumer research was found to determine the most effective ways to coordinate their resources through the application of analytical methods derived from fields of studies such as mathematics, science, and engineering.  Through allowing their customers to try their brands at a low risk price, it enables them to be support the product. It also resulted to the advantages enjoyed by the group in the form of increased revenues and their successful throughout the year. Credit:ivythesis.typepad.com

CRITICAL ANALYSIS ABSTRACT PAPER

The Virgin Group which was created by pursued the best quality and craftsmanship in terms of products and services. Its dedication to qu...

Micro Analysis of Virgin Group

Micro Analysis of Virgin Group Introduction The hospitality industry was acknowledged by the organizations; hence, they implemented the strategic approaches in order to gain the advantage even in the competition. One of the most recognized hospitality businesses is the travel sector in which many competitors participates just to gain the favor of the customers and be profitable in the long run.  Analysis on the Organization The airport dominance has grown competitive in the hospitality industry of every country. Accommodating this competitive growth is the role it plays in the helping the economy to survive. There is always a different philosophy in every business venture in the heads of the entrepreneurs and airlines are a huge investment that still on the case-to-case basis for survival. In addition, there is a regulation that is strictly implemented in the market which makes the competitive advantage hard to catch. The specific strategy that can be applied is out of interest in finding dominant position. This is the evolving issues for the changes that might happen inside an organization. The similarities, differences and crossing out of the unlikely process and procedures are the continuous methods applied in the intermediate term of the company’s existence (Bilotkatch, 2007).     Virgin Group’s Strategy Through the expansion of partnerships there is a broaden service of the Virgin Alliance and start providing the quality of service in smaller markets. Investing in the possible markets creates a good impression to capture the market. The airline became popular because of their service offered they can answer the needs of the customers in the cities where there is a large group of jetsetters and business class which is another advantage to increase the rate of return of the customers (Dunlea, 2000). In the continuous practice of the organization, they became the industry’s most favorite in airlines and second largest long-haul carrier on the route of London to New York (Rifkin, 2004). SWOT Analysis First is the Virgin Airlines’ Strengths, there is no doubt that influence, values and legacy of Mr. Bronson is one of their major strengths. Other advantage is that the business is privately owned which means they can manage the business well without the aid of following the government’s restrictions. The business also set the good image and good marketing strategy which reflects in promoting each other’s business as part of the alliance. Since it is the first company that offers low prices, they also get a chance to lease the aircrafts. Another factor is the strong leadership team of the seniors who are qualified enough in leading the entire organization toward the competency. Second are the Weaknesses behind the Virgin Airlines. Because of the different business try-outs of MR. Branson, he is also part of his business’s weakness. All of his proposed projects or business’ strategies affect his other business although it is successful and stable. Another weakness is the low return of cash flow because they offer low prices for the passengers and there is a high expenditure for maintenance of the aircraft and sustaining the quality of their service. The direct route from London to New York is also considered as part of the weakness because it only promotes the limited destinations.    Third are the Opportunities for the Virgin Airlines. There are more cities open for another hospitality service and based on the smooth record of the airline, it is another success for them. Some of the large airline companies had experienced bankruptcy and it is a great opportunity and in addition, the European Union is on their side to support. Threats are the fourth analysis on the airlines. The rapid growth and change in the world economy is a factor of threat because of the New Airline Restrictions. Another is the competition and high prices on the cost of fuels, threats on the terrorism, over flight restrictions, and the new airline companies are the other existing threats.   Conclusion In investigating the small section of the Virgin Group organization, the SWOT analysis is used. However, the PEST analysis and Porter’s Five Forces analysis are also important to measure the macro environment and identify the right position of the firm in the industry to outperform the other rivals. In fact, those analyses are not always meant to measure the uncertainties or threats in the market but to reduce the impact it might bring in the business. It is expected that the changes economic trends, changes in social, political, and technology can serve as a threat or part of the weakness of the business, but knowing this weaknesses is the key of the business to open and manage the opportunities for their future.     References: Bilotkatch, V., (2007) Asymmetric Regulation and Airport Dominance in International Aviation: Evidence from the London-New York Market, Southern Economic Journal, 74(2)  Dunlea, (2000) Virgin Atlantic Case. [Online] Available at: http://www.depts.husson.edu/cookc/marketingcourses/virginatlantic.ppt [Accessed 11 August 2010]. Rifkin, G., (2004) How Richard Branson Works Magic [Online] Available at: http://www.startupjunkies.org/Branson%20Case%20Study.pdf [Accessed 11 August 2010].   Credit:ivythesis.typepad.com

Micro Analysis of Virgin Group

Micro Analysis of Virgin Group Introduction The hospitality industry was acknowledged by the organizations; hence, they implemented the...