Bsp Term Paper Essay Example for Free

Bsp Term Paper Essay It came up with the rudiments of a bill for the establishment of a central bank for the country after a careful study of the economic provisions of the Hare-Hawes Cutting bill, the Philippine independence bill approved by the US Congress. During the Commonwealth period (1935-1941), the discussion about a Philippine central bank that would promote price stability and economic growth continued. The country’s monetary system then was administered by the Department of Finance and the National Treasury. The Philippines was on the exchange standard using the US dollar—which was backed by 100 percent gold reserve—as the standard currency. In 1939, as required by the Tydings-McDuffie Act, the Philippine legislature passed a law establishing a central bank. As it was a monetary law, it required the approval of the United States president. However, President Franklin D. Roosevelt disapproved it due to strong opposition from vested interests. A second law was passed in 1944 during the Japanese occupation, but the arrival of the American liberalization forces aborted its implementation. Shortly after President Manuel Roxas assumed office in 1946, he instructed then Finance Secretary Miguel Cuaderno, Sr. to draw up a charter for a central bank. The establishment of a monetary authority became imperative a year later as a result of the findings of the Joint Philippine-American Finance Commission chaired by Mr. Cuaderno. The Commission, which studied Philippine financial, monetary and fiscal problems in 1947, recommended a shift from the dollar exchange standard to a managed currency system. A central bank was necessary to implement the proposed shift to the new system. Immediately, the Central Bank Council, which was created by President Manuel Roxas to prepare the charter of a proposed monetary authority, produced a draft. It was submitted to Congress in February1948. By June of the same year, the newly-proclaimed President Elpidio Quirino, who succeeded President Roxas, affixed his signature on Republic Act No. 265, the Central Bank Act of 1948. The establishment of the Central Bank of the Philippines was a definite step toward national sovereignty. Over the years, changes were introduced to make the charter more responsive to the needs of the economy. On 29 November 1972, Presidential Decree No. 72 adopted the recommendations of the Joint IMF-CB Banking Survey Commission which made a study of the Philippine banking system. The Commission proposed a program designed to ensure the system’s soundness and healthy growth. Its most important recommendations were related to the objectives of the Central Bank, its policy-making structures, scope of its authority and procedures for dealing with problem financial institutions. Subsequent changes sought to enhance the capability of the Central Bank, in the light of a developing economy, to enforce banking laws and regulations and to respond to emerging central banking issues. Thus, in the 1973 Constitution, the National Assembly was mandated to establish an independent central monetary authority. Later, PD 1801 designated the Central Bank of the Philippines as the central monetary authority (CMA). Years later, the 1987 Constitution adopted the provisions on the CMA from the 1973 Constitution that were aimed essentially at establishing an independent monetary authority through increased capitalization and greater private sector representation in the Monetary Board. The administration that followed the transition government of President Corazon C. Aquino saw the turning of another chapter in Philippine central banking. In accordance with a provision in the 1987 Constitution, President Fidel V. Ramos signed into law Republic Act No. 7653, the New Central Bank Act, on 14 June 1993. The law provides for the establishment of an independent monetary authority to be known as the Bangko Sentral ng Pilipinas, with the maintenance of price stability explicitly stated as its primary objective. This objective was only implied in the old Central Bank charter. The law also gives the Bangko Sentral fiscal and administrative autonomy which the old Central Bank did not have. On 3 July 1993, the New Central Bank Act took effect. The BSP’s Organizational Structure The Monetary Board, which exercises the power and functions of the BSP, such as the conduct of monetary policy and supervision of the financial system. The Monetary Stability Sector, which takes   charge of the formulation and implementation of the BSP’s monetary policy, including serving the banking needs of all banks through accepting deposits, servicing withdrawals and extending credit through the rediscounting facility, The Supervision and Examination Sector, which enforces and monitors compliance to banking laws to promote a sound and healthy banking system, and The Resource Management Sector, which serves the human, financial and physical resource needs of the BSP. The powers and function of Bangko Sentral are exercised by its Monetary Board, whose seven members are appointed by the President of the Philippines. As provided for by the New Central Bank Act, one of the government sector members of the Monetary Board must also be a member of the Presidents Cabinet. Members of the Monetary Board are prohibited from holding certain positions in other government agencies and private institutions that may give rise to conflicts of interest. The members have fixed, overlapping, terms, except for the cabinet secretary representing the incumbent administration and it was the expansionary. The current members of the Monetary Board are: * Amando M. Tetangco, Jr. , Chairman * Cesar Purisima * Peter Favila * Ignacio Bunye * Juanita D. Amatong * Alfredo C. Antonio * Nelly F. Villafuerte The BSP’s primary objective is to maintain price stability conducive to a balanced and sustainable economic growth. The BSP also aims to promote and preserve monetary stability and the convertibility of the national currency. The BSP provides policy directions in the areas of money, banking and credit. It supervises operations of banks and exercises regulatory powers over non-bank financial institutions with quasi-banking functions. Under the New Central Bank Act, the BSP performs the following functions, all of which relate to its status as the Republic’s central monetary authority. * Liquidity Management. The BSP formulates and implements monetary policy aimed at influencing money supply consistent with its primary objective to maintain price stability. * Currency issue. The BSP has the exclusive power to issue the national currency. All notes and coins issued by the BSP are fully guaranteed by the Government and are considered legal tender for all private and public debts. Lender of last resort. The BSP extends discounts, loans and advances to banking institutions for liquidity purposes. * Financial Supervision. The BSP supervises banks and exercises regulatory powers over non-bank institutions performing quasi-banking functions. * Management of foreign currency reserves. The BSP seeks to maintain sufficient international reserves to meet any foreseeable net demands for foreign currencies in order to p reserve the international stability and convertibility of the Philippine peso. Determination of exchange rate policy. The BSP determines the exchange rate policy of the Philippines. Currently, the BSP adheres to a market-oriented foreign exchange rate policy such that the role of Bangko Sentral is principally to ensure orderly conditions in the market. * Other activities. The BSP functions as the banker, financial advisor and official depository of the Government, its political subdivisions and instrumentalities and government-owned and -controlled corporations. A payments system comprises the cultural, political, legal, economic and business practices and arrangements that is used within a market economy to determine, store and exchange value or ownership of goods and services. Properly functioning payments systems enhance the stability of the financial system, reduce transaction costs in the economy, promote the efficient use of financial resources, improve financial market liquidity and facilitate the conduct of monetary policy. Central banks have a strong interest in promoting safety and improving efficiency in payments systems as part of their overall concern with financial stability. Central banks play a key role in the domestic payments system because it is their liquid liabilities—more particularly their reserve balances—that are the instruments in which the bulk of domestic payment obligations are legally finally settled. This pivotal role reflects, in part, the central bank’s statutory legal tender monopoly. Payment is a transfer of value. At its basic level, a payments system is a mechanism agreed upon by buyers and sellers in transferring value between them in order to consummate a particular transaction. A payments system facilitates the exchange of goods or services in an economy. A payment instrument is always required for each payment transaction to supply the term and conditions for the transaction, which should meet physical, legal and regulatory standards. Transfer of goods or services Goods flow Value flow Transfer of value through a payments system Seller Payee Flow of Payments System Buyers and Sellers, Payors and Payees Buyer Payor There are two general classifications of payment instruments, namely: cash or non-cash payment instruments. Cash is generally paper-based while the non-cash instruments are either paper-based or electronic-based. Non-cash payment instruments can be classified further into cheque payments, direct electronic funds transfers and card payments. Under the general structure of the payments system, the payments system consists of the set of arrangements for discharging obligations assumed by economic actors whenever they acquire real or financial resources, including the institutions providing payment services, the various instruments used to convey payment instructions, the means of transferring those instructions (including communications channels), and the contractual relationship among the parties concerned. One of my subject had affected was my major subject and that is Cost Accounting. Based on my own observation Cost Accounting had been affected throughout the Educational Tour of BAS. It affected me a lot because in terms of the hours that we pay on that subject it ruined and besides in terms in the subject we missed the lesson that should be took up on us on that day. But, Unfortunately, I’m not totally affected on that day, I learned a lot because our getaway tour is not all about fun. It is just like you are still studying but outside the campus.

Violated Human Rights Essay Example for Free

Violated Human Rights Essay On Oct 10, 2012 a womans rights were violated when an inmate (female) gave birth to her first child. No doctors were present during labor nor during the actual delivery. Said inmate, Julie Bilotta, had reported that the guards at her prison had heard her cries of pain during labour and had chosen to ignore it. If that wasn’t bad enough, the guards even got irritated of her constant yelling and had her transferred to a new cell. Julie eventually gave birth 4 hours after the transfer. Luckily, the baby was born and is healthy. My personal view on this issue is that this is an incident that should have never happened. I think that we are a civilized enough society to realize that these inmates are still people, they are just people who have made mistakes. While paying for it, should they be treated like they are not even humane enough to have a proper health care when in need? Not only that, but because of this epidemic a child’s, or mother’s, life could have been taken away. With almost no help at all, this woman gave birth, endangering both her child and her self. The report even stated that the baby’s birth was something called a â€Å"breech birth† ( that’s when the baby enters the birth canal either buttocks or feet first rather than the head.) something like this is extremely serious during birth because it can sometimes lead to the baby getting caught and choking to death. Also, the woman giving birth can possibly bleed to death. That is why there is usually a medical procedure called a â€Å"c-section† for the safety of both mother and child. So far, the major rights that I see violated are. 1) Article 3: Everyone has the right to life, liberty and security of person. An innocent child, who hasn’t even been born long enough to even make mistakes, has had it’s life at risk. It has the right to live, and that prison took away it’s right by refusing to give the mother proper medical care. What if that baby really had died for something that could have been easily avoided? 2) Article 25. (1) Everyone has the right to a standard of living adequate for the health and well-being of himself and of his family, including food, clothing, housing and medical care and necessary social services, and the right to security in the event of unemployment, sickness, disability, widowhood, old age or other lack of livelihood in circumstances beyond his control. This article states that everyone has the right to proper health care. Although, in all fairness, the prison guards did have Julie checked out by nurses, the reason why she didn’t receive proper medical attention is due to the fact that they thought it was a false labour. But even at that, they should have made sure that it was indeed false labour by getting a proper checkup by a doctor. At least that’s what standard procedure states, and according to article 25: Everyone has the right to standard living adequate including things like health care. I do believe that something like this will not happen ever again since it caused such an uprising by a group of womens rights activists. Along with all the press the incident got when it first occurred, it seems that everyone has the same thoughts on this matter and that, hopefully, this is the last time that this is to ever happen. However, if people still don’t get the message after this incident, I strongly believe that there should be some prison rule stating that when an inmate is pregnant the baby, and mother’s, well being become top priority and treat the birth the same as if the mother weren’t a prisoner.

Business Essays Ryanair Airlines Transportation

Business Essays Ryanair Airlines Transportation Ryanair Airlines Transportation Ryan Air Case Study 1.0 Introduction Ryanair was set up by the Ryan family in 1985. The company went public in 1997 and the Ryan’s subsequently sold the bulk of their share to other shareholders. Ryanair traditionally developed organically, i.e. by growing its assets by itself. Every year, it opened new hubs in Europe, started flights from new airports, and added to its aircraft fleet. This model proved to be rather successful. By 2003, Ryanair was the most profitable and valuable airline in Europe ahead of Lufthansa and doubling its value over British Airways. However, as the market started to saturate and as the competition got tougher, the company decided to buy Buzz, another low-cost airline. It did so in 2003. Many said that Buzz was a financial disaster but acquiring it was strategically important for Ryanair that wanted to increase its market share and get Buzz’s airport slots and other facilities. 1.1 Ryan air’s objectives are: To open at least one new base in Europe each year for the next three or four years To grow at a rate of thirty percent (30%) for the next two years to just under twenty million passengers To maintain its position as Europe’s leading low fares airline To operate frequently point-to-point short haul flights, mainly out of regional and secondary airports 1.2 Mission and Vision The mission of Ryanair is to keep the lowest fares among all the other European airlines and to have a friendly and efficient service that satisfies the customer’s needs. The vision to the future of Ryanair is to keep going up and be Europe’s largest airline in the next six years. The heart of its strategy is based on providing a no-frills service with low fares designed to stimulate demand, particularly from budget conscious leisure and business travellers, who might otherwise have used alternatives forms of transportation, or who might not have travelled at all. 2.0 No-frill Ryan Air (refer to appendix A for more details) Over the last decade, European Aviation has moved from a highly regulated market, based on bilateral agreements between countries, towards an oligopolistic structure and finally to a highly monopolistic competitive single market. In this new situation the discretionary powers of the authorities have been curbed and airlines have enjoyed greater freedom to set fares, open new routes and determine what capacities to offer. This has eroded the dominance of the Flag Carriers like British Airways, Lufthansa and Air France, due to the upsurge of low cost airlines. In the United Kingdom however, the industry is still oligopolistic in nature, as there are many barriers to market contestability: Availability of desired take-off and landing slots at airports. The necessity of entering a new route on a large enough scale to achieve acceptable cost levels. The costs of leasing or buying new fleet of aircrafts. Securing contracts with ground-handling companies who may already have contracts with other airlines. Retaliatory behaviour by rivals. The necessity of applying for and securing an air operators’ licence from European Union. Overcoming existing customer loyalty achieved by companies who have exploited their advantage of being the first carrier. Direct intervention in the industry to control externalities e.g. aviation taxation. Ryanair a ‘no frills’ low cost airline was able to introduce pricing strategies that worked. Financial statements from 2002 – 2003 were compared; the results showed that Ryanair enjoyed after tax profit growth of fifty-nine percent (59%). This was possible through an aggressive pricing policy. 3.0 Internal and External Analysis In reference to the competitive structure of this newly formed low fares airline market in Europe and how it has developed during the 1990’s. 3.1 The Porters Five forces model shown in Appendix A, summaries these dynamics under the various influencing factors. The most influential of these are discussed. As entrants developed in this market, rivalry increased although no major head-to-head battles with the mainline global airlines occurred due to the ‘low fares’ market developing their own routes. Competition only existed from various new airlines catering for this growing sector, along with tailor made sub-divisions of the major airlines e.g. GO parent group British Airways. As the market became over crowded, however, the threat of entry was reduced, not only due to the large capital investment required. But the basic factors of congestion in the skies and the lack of take-off and landing slots at airports deterred potential new entrants. The suppliers of aircraft to the sector have relatively low power, second-hand aircraft entailed high maintenance low fuel efficiency costs and some new entrants required new aircraft to promote their new image. Although new aircraft suppliers also have low power due to the fierce competition within their manufacturing industry (Airbus, Boeing), the main force of supplier’s power comes from the price of aviation fuel which is directly related to the cost of oil, as individual companies within the airline sector they do not have the power to alter this. Customers have little power due to their large number and relatively small individual contribution to sales revenue, although this level of power will vary on the travel route in question depending on its level of competition. Porter (1998) highlighted potential risks that companies adopting any of the three generic strategies might face. For a strategy competing on costs, the main risks are when competitors are able to imitate the strategy itself, or technology changes. When the target segment becomes structurally unattractive, it also poses a risk to the company. This can happen when the demand for low fares disappears due to changing consumer taste. From the fact of the case study, Ryan air is a dominant player in the sector, and this risk is particular high at this stage. Ryan air ‘no-frill’ policy may have to change as they are actively expanding their flight route network and distance. It would be impossible for Ryan air not to provide meals on longer haul flights and as a result their cost focus strategy may become blurred. Ryan air continues to set prices lower than mist of their competitor. Bowman’s Strategic Clock may be a better tool for analysing the case study as it focuses on pricing (refer to appendix C). 3.2 Swot Analysis Opportunities for Ryanair There is still potential for more regional departures to satisfy business travel demand and the growth in short breaks. The Internet can provide a simpler route to the market for consumers and businesses. It makes searching for availability and the lowest fares easier and reduce distribution costs for airlines. There is potential for more direct bookings to reduce distribution costs. Increasing collaboration with alliance partners and code sharing partners can increase sales and reduce costs. This could lead to higher levels of cross-shareholdings and consolidation in the industry. There is also considerable potential for further development of low-fare services in Europe. Ryanair can use its reputation as a resource to expand into Internet cafà ©Ã¢â‚¬â„¢s or car rental services. They can also cut down on the use of intermediataries who sell their tickets for them by getting to publicise through the Internet or airports 3.3 Threat for Ryan Air The threat of substitutes is however a main area of power, smaller geographical space and shorter distances between major agglomerations allow a greater competition from alternative transportation, notably the high-speed train. The main business challenge during the 1990’s for the ‘low fares’ airline sector was how to convince customers to take the plane instead. The threat of September 11 has proved traumatic for the mainstream European airlines. By contrast, in the no-frill airline sector, traffic calmed sharply, buoyed by strong sales promotions and heavy discounting. However, for Ryanair, the mainstream airlines’ losses were the budget airlines’ gains, strengthening their bargaining position with respect to aircraft procurement, airport deals and staff recruitment. 3.4 Strengths for Ryan Air (refer to Appendix B for more details) By looking at the strengths in appendix B, by the end of 2003, Ryanair’s route system had expanded from its primarily Irish-UK emphasis to serve 86 destinations on 133 routes across 16 countries. Ryanair’s no-frill services allowed it to priorities features important to its clientele, such as frequent departures, advance reservations, baggage handling, and consistent on-time services. Ryanair’s strength (appendix B) is that it offers travel insurances, car rental and connecting rail services, and commission on sales of other services such as hotel reservation. Ryanair website is acclaimed as being one of the most user-friendly and visited travel websites in Europe. (Refer to Exhibit 6 in the handbook for details on operating statistics for Ryanair) 3.5 Pestle Analysis: (refer to appendix A for more details) By looking at the Pestle Analysis, its suggests that Ryan air has to keep a lot of things in mind before taking any further step to increase it awareness. It has to make sure that it follows that law. Also, have to look at the people behaviour on spending the money and keep its price reasonable to attract its rival customers. 4.0 Financial Status: In 2003 Ryanair had delivered its 13th consecutive years of increased profitability. Its net margin had increased by 4% to 28%, surpassing its own long-term net profit margin target of 20%. The staff efficiency ratio had improved by 15% (see exhibit 1 in the handbook). The group’s market capitalisation had grown from  £392m in 1997 to  £4.7 by 1 July 2003, as its profitability was seen to be unique among airlines worldwide. In fiscal 2003, Ryanair had delivered extra ordinary growth in fleet, routes; traffic, revenues and profitability (refer to exhibit 1a, b and c in the handbook). Ryanair advertises its low fairs, primarily on its website, in newspapers, and on radio and television. In 1997, Ryanair was one of the first European airlines to cut its rate of commission to travel agents, from 9% to 7 and half percent. In 2002, Ryanair launched its website. This has had the effect of saving money on staff cost, agents’ commissions and computer reservation charges, while significantly contributing to growth. 5.0 Benchmarking: Comparing Ryanair to other airline companies is almost impossible, while the airline industry is blurring through competitive activity and industry convergence. Airlines offer nowadays a lot of extra services, for example, car rental, internet access in the plane et cetera. All those extra services don’t belong to the core product, the flight. Because of every airline company offering something else it makes it hard to compare Ryanair with them. Ryanair could compare itself to other low-budget airlines, despite the product Ryanair offers is very unique and Ryanair is one of the most profitable low-budget airline. 6.0 Resources Available resources Available resources can be grouped under the following four headings: Physical resources The nature of these resources, such as the age, condition, capability and location of each resource, will also determine the usefulness of the resource. Ryanair possesses everything that is needed to have the company operating in the airline industry. For example, an aircraft fleet (the average age was considerably higher than that of the fleets of Ryanair’s current or potential competitors), headquarter in Ireland, secondary airports to use for landing et cetera. Human resources Ryanair has several hundred employees who issued a statement asserting that they are happy to work for the company. Financial resources Ryanair has different shareholders: The Ryan family The employees Michael O’Leary An investment group led by David Bonderman Irish Air EU nationals Intellectual capital The intellectual capital is the intangible resources of an organisation and is often overlooked or undervalued. The intellectual capital of Ryanair consists for example of the knowledge that the individual employees have. They are all well trained, are able to use the customer databases and have good relationships with the customers. These resources are not tangible, but very important in this knowledge-based economy. 7.0 BUZZ – A Low Price Purchase: Ryanair protects and strengthen its position in the current EU Budget airline market through acquired BUZZ, and appointed two deputies, however, in the fierce competition; Ryanair should seek to some other new markets or new products. Enter the long-haul flight market with the existing cheap, no-frills flights or launch the business class in flight for the business travellers are both the good future directions for Ryanair, because these options are more or less relate to the current business which Ryanair is doing, it is easier for sharing the resources and controlling. Diversification into long-haul market with business class flights, seems not a wisdom choice for Ryanair, since choose to do something is not linking to Ryanair’s current business at all; it would make Ryanair into a very risky situation. 7.1 Robustness: (see appendix D) Rarity Michael O’Leary has a lot of experience and knowledge that can be seen as a unique resource for Ryanair. In 2004, the Financial Times named Michael O’Leary as one of 25 European ‘business stars’, who are expected to make a difference. Ideas can not be patented; they are in the public area. So advantage of Michael O’Leary will be short-lived and only if Ryanair is good at learning, adapting and moving to new bases of competition, Ryanair will be the long-term winner. Another rarity of Ryanair is the extremely low costs and low prices. This can be imitated by other airlines by introducing a new cost-cutting policy and by doing a lot of research. Complexity Entering the airline industry is very hard. Surviving in the airline industry as a low budget company maybe even harder, while Ryanair is so unique, innovative, with a very aggressive marketing policy, Ryanair is impossible to imitate. Culture Ryanair operates only in Europe, so the cultural differences are not so big, and does not give any problems. Casual ambiguity Other airline companies know that the basis of success for Ryanair is the cost-cutting policy. But how Ryanair manages this policy is unclear to them. It is hard to imitate. Ryanair is Europe’s first low-fares and no frills carrier, and it believes that it has made a sufficient gap over its competitors. But the question is can Ryanair maintain its objectives and strategies within the next 2-5years. 8.0 The detailed proposals recommended and previous objectives that can be enhanced. The Strategy that can help Ryan air to increase its competitiveness in the airline industry in short term and long term and the things that it can do to attract more customers. 8.1 Short-term strategy (refer to appendix C for more details about Ryan air strategic position) In short-term strategies, Ryanair must ensure that they are very competitive in terms of their low cost services. By keeping customers satisfied with the price of their tickets, thus reducing the complaints from flight changes and price changes, and ensuring that their day-to-day activities are constantly kept up-to-date with the constant use of the value chain analysis. 8.2 Medium-term Strategy In medium-term Ryanair face continuous competition, due to the fact that they are not number one in the low fare airlines market share even with the merger with BUZZ holding the largest low fares airline, BA and its seven alliances are number one. There should be some goals to under pin other competitors in a market penetration and new product development. Maybe by implementing own branded items into the market, as well as the subsidy’s, to maximise profits with the aid of research and development. Ryanair want to compete against BA. In which Ryanair is continuing its long-term goals of expansion, in order to compete with the larger companies. But they can only achieve this by undercutting BA, i.e. in sectors they fail to break even. 8.3 Additional Service for Customers: The use of secondary airports causes people to catch other modes of transport to reach the main city. Ryanair can take advantage, by offering an additional service to drop people at their locations. This can be done through contracting to a taxi service or a coach company. With a well-researched marketing strategy that can be used to attract the customers thereby boosting Ryanair’s passengers in unfilled seats and thus aiding in the reduction of complaints in short-term strategy. By having more people working on the help desks as the Internet has no middle man, thus no commission has to be paid to travel agencies. In terms of the Internet direct sale, it not only can reduce labour administration costs, but convenience for customers and save their time. In order to provide customers with an efficient and courteous service, it is inevitable that Ryanair have to improve their service. Generally such as the cargo services, well arrangement of booking tickets (in the internet and telephone) and while flights are being cancelled, they will give priority to resolve the situation. 8.4 Promotional Activity for Ryanair: Ryanair needs large amounts of aggressive promotion, to be noticed by the whole world in similarity to Easy Jets marketing tactic of a TV programme that was successful in making a profit and its name being remembered. In comparison, the name Ryanair is not that well known but a market research would be needed to verify this. Ryanair must achieve a new tactic to be known in the market but this may lead to a high risk factor, if they decided to focus on advertisements on TV with their special offers other than travel agencies using their airlines. Another option is the low risk factors by advertising on radio and billboards, then aiming the marketing strategy towards the targeted customers i.e. entrepreneurs and students 8.5 What Ryan air should in terms of its customer’s safety? In points of safety for their customers since the US attacks during September 11th and the recent attacks that took place in 2003, the planes must be kept and insured that they are safe to use otherwise there will be no customers. For example, if a budget air-line had an accident it can be argued that the low costs on ticket prices, cost peoples lives. This strategy will always need constant up-to-date measures in short-term and long-term, because anything can happen. 9.0 Conclusion The aim of this report was to carry out a strategy analysis of Ryanair, Europe’s largest low-cost no-frills airline. From this it became evident that the organisation operates in a complex environment with fast changing influences that affect its business both beneficially and unfavourably. It also enabled identification of some of the sources of Ryanair’s competitive advantage: core competencies, unique resources, key linkages and the superior cost performance compared to its closest competitor. However, it also became clear that the organisation still has a lot to learn from best practice. In general, Ryanair’s strategies match its task environment although it fails to address certain crucial issues. If these are not dealt with they could lead to future problems and reductions in profits. Reference: Cole, G. A. 1996, Management Theory and Practice, DP Publications, London Hornby, W., Gammie, B., Wall, S. 1997, Business Economics, Pearson Education Limited, England Kotler, P., Armstrong, G. 2001, Principles of Marketing, Prentice Hall, New Jersey Sloman, J. 2000, Economics, Pearson Education Ltd, England. Wright, W. 1999, Marketing: Origins, Concepts, Environment, Business Press, London Gerry Johnson. Kevan Scholes, Richard Whittington. 2007, Exploring Corporate Strategy, 7th edition Appendix A Porters Five Forces related to Ryanair: The Threat of Entry High requirements for capital investment Some economies of scale High marketing costs Experience in operation needed, established airlines already have trained staff High congestion of main airports, difficulty of obtaining landing and take-off slots Advantage in brand recognition, first mover advantage Expectation of retaliation from traditional airlines in price cutting and marketing strategies such as British Airways, Lufthansa, Scandinavian Airlines and BMI New EU ruling on overbooking can add to the increasing costs posed to airline companies The Threat of Substitutes Mainstream airlines are losing market share due to September 11 aftermath Substitution depends on the relative strengths of other airlines such as daily flights frequency, punctuality, price and certain destinations Availability of other transport alternatives such as charter airlines, car ferries, high-speed trains and cars. Substitution for land travelling is dependent on journey time distances, destinations, convenience, flexibility, and customer preferences Bargaining Power of Buyers Large population base in EU Switching cost is relevantly low as there is no high differentiation of services Internet booking allows customers to research relative costs between airliners easily; perfect knowledge Price is major factor in the choice of airlines apart from flight frequency and punctuality Services provided is similar among airlines Bargaining Power of Suppliers Concentrated and small number of aircraft manufacturers i.e. Boeing and Airbus Many budget airlines have been opting for standardized Boeing 737 aircraft will lead to Boeing having more power. The power of main airports is increasing due to air traffic in EU is mounting. Secondary airports are desperate for business from budget airlines. The price of aviation fuel is directly linked to the cost of oil, hence budget airlines like Ryanair is difficult to alter this. The more Ryanair expands the more power it will possess over its suppliers. Competitive Rivalry The European low cost airline industry is very competitive. Ryanair has fierce competition from Easy Jet, Virgin Express and Aer Lingus New competitors in the budget sector increase the buyer power. Mainstream airlines have more control over take-off and landing slots in main airports Mainstream airlines are trying to retaliate by decrease cost on domestic flights, introducing internet booking and set up low-fares subsidiaries Low switching costs and customer loyalty High costs of leaving market Pest Analysis: Political and Legal Regulations for the air travel industry are getting even more stringent. The European Union authorities demand that airlines operate in an open, transparent manner. Any state subsidies to airline companies are prohibited in order to make working conditions equal to anyone and to boost competition in the industry. There are also regulations in place for airlines not to exceed certain levels of noise and air pollution. All of the legislation and regulations make operating in the industry harder. Economic Europe is undergoing economic slowdown. People therefore spend less, in general, and tend to travel less, as a result. High oil prices inflate costs of fuel and impact margins negatively. At the same time, people are ready to travel for less and thus willing to opt for low-budget airlines. Business travel is on the surge. E.g., business travelers count for 40% of all Ryanair’s passengers. At the same time, overall traffic in the industry as well as profitability levels plummeted in the aftermath of 11 September and after the war in Iraq and the SARS. This had a devastating effect on the majority of airlines but also gave an impetus to the development of low-cost carriers. Social People’s mobility has been increasing during the last decades. People travel for leisure, business, and in search of new jobs. Personal disposable income of people is rising in Europe as well as the number of senior citizens who enjoy traveling. Traveling low-cost has become a norm. Technological Airlines set up websites through which they sell tickets and other ancillary products and services such as car rentals and travel insurances. This led to cost decreases and to greater reach to customers. Airlines now provide satellite TV and phone services on board as well as broadband Internet and thus enhance value to customers. Information systems allow airlines collect data about passengers, cost, prices as well as ensure better service when boarding and handling luggage. Environmental Companies now have to comply with strict environment protection regulations and laws. Should they breach them, they may be liable to enormous fines or court hearings. This can have a greater impact on low-cost carriers as they have more take-offs and landings due to higher frequency of flights, and therefore need to pay more environment related taxes. Appendix B Strengths and weaknesses of Ryanair Airline Strengths Ryanair first budget airline in Europe, market leader. Most developed route system with frequent departures on Dublin–London route. Pre-empting potential competitors on the same routes, unless they can offer better value than Ryanair through lower prices (which requires them to have lower costs or take the pain of losses) and/or extra services (but customers must consider these worth paying for). Pursuing clear strategy, efficient and effective low cost operator; activities fit together to create low cost  ® difficult to undercut Ryanair on cost, and therefore on price (but see weaknesses for some cost vulnerabilities). Low and reducing breakeven load factor, easily cleared, reduces financial risk. Similarly, average length of passenger haul is moving in the right direction, as is number of employees per aircraft  ® reducing cost per available seat mile ®good operating profit. In fact, in 2001 Ryanair was considered the most profitable airline in the world Low debt, relatively high p/e ratio makes it possible to raise finance for growth Leadership – testimony of awards for management. Michael O’Leary and Tony Ryan are determined competitors, turned Ryanair around very effectively Weaknesses In an inverse way, Ryanair’s weaknesses can be listed and assessed to see whether any of them create critical vulnerabilities that impair Ryanair’s positioning and viability. Cost structure – aircraft utilisation in question with lowest number of hours per day of any budget competitors; older aircraft entail higher fuel and maintenance costs; currency fluctuations make fuel costs unpredictable. Overly cost conscious? Could be irritating to passengers, e.g. withdrawing free ice with paid for drinks – especially when budget rivals are actually adding perks, and mainstream airlines are discounting. Capital structure – very vulnerable to financial markets sentiment and high expectations, so any profit disappointment could be disastrous for share price, which is especially important in absence of dividends. Also, majority free floating shares could result in over 50% ownership outside EU  ®loss of airline licence. Staff issues – EU legislation regarding compulsory trade unions, alongside history of industrial relations problems; question marks over staff commitment and loyalty. Outsourced services outside Ireland may mitigate against employee commitment and intense company knowledge necessary to create superior customer service. Ryanair penalized more than other airlines by loss of intra-EU duty-free because cabin staff remuneration dependent on it; Ryanair had to compensate staff. The Value Chain The value chain model was suggested by Michael Porter. He maintained that an organization can provide value to its customers in two major ways: by lowering costs in a particular operation or by enhancing perceived value-added through differentiation. A company can add value using both methods in its different operations. The value chain consists of primary activities and supporting activities. Primary activities include: a)  Ã‚  Ã‚  Ã‚  Ã‚   Inbound logistics, i.e. suppliers, purchases, inventories, lead times; b)  Ã‚  Ã‚  Ã‚  Ã‚   Operations, i.e. manufacturing or processing; waste and distribution management; inventory control; efficiency; location management; customer service; information systems; c)  Ã‚  Ã‚  Ã‚  Ã‚   Outbound logistics: selling, delivering, transportation, distribution; d)  Ã‚  Ã‚  Ã‚  Ã‚   Marketing and sales; e)  Ã‚  Ã‚  Ã‚  Ã‚   Service: customer satisfaction and retention, customer loyalty. Supporting activities entail: f)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Infrastructure: structure of the organization (centralized or decentralized etc); culture; managers’ involvement and support; vision; frequency of communication between managers and employees; g)  Ã‚  Ã‚  Ã‚  Ã‚   Human resources: motivation; respect of employees, which leads to happier staff and lower turn-around; h)  Ã‚  Ã‚  Ã‚  Ã‚   Technology development: Internet bookings, satellite communications, ERP information systems all lead to greater efficiency and lower costs; i)  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Procurement: relationships with suppliers; storage. When bargaining power towards suppliers is high, then costs are low. A succes

What is the main contribution made by the chorus in The Burial at Thebe

Heaney’s play The Burial at Thebes is a version of the Greek tragedy Antigone by the Athenian dramatist Sophocles (c496-406 BCE). According to Heaney it is not a translation but a version as he was â€Å"looking for meaning not language† (Heaney, 2009, CDA5937, The Burial at Thebes - Interviews). This is in keeping with the commissioning of the play to celebrate 100 years of the Abbey theatre in 2004 as the founders, W.B Yeats and Lady Gregory, were Irish â€Å"cultural nationalists† (Hardwick, 2008, p193) . The change in title from the traditional Antigone to The Burial at Thebes moves the emphasis away from the characters to the â€Å"controversial question of the burial of a prince, who was regarded as a turncoat† (Theocharis, 2009, CDA5937, The Burial at Thebes - Interviews) enabling Heaney to intertwine the tradition Greek ideology with Irish nationalism. The chorus in Greek tragedy is defined as a group of people who often participate in and comment on the dramatic action, emphasising traditional moral and social attitudes and providing commentary (Moohan, 2008). In Greek theatre they also provided a more practical role, entertaining the audience during the play with songs and dance and allowing the performers to change. Most performers performed two or more roles known as doubling. In The Burial at Thebes the director, John Theocharis (2009), states that the chorus also adds dramatic tension and suspense whilst creating subjective and objective voices that underpin the context of the play. In looking at the contribution that the chorus makes this essay will look at the various functions of the chorus - their role as a commentator, participating in and commenting on the dramatic action and how they present traditional moral and soci... ...ture of the play, mainly based on the Greek, outlines these values in poetical format in the Choral Odes. The chorus’ commentary on the characters and drama and its subsequent participation pushes the plot towards traditional ideas with the encapsulation in their ending summation. Works Cited Hardwick, L. (2008), ‘Seamus Heaney’s The Burial at Thebes’, in Brown, R (ed.), Cultural Encounters (AA100 Book3), Milton Keynes, The Open University, pp.192-235 Heaney, S. (2004), The Burial at Thebes, London, Faber and Faber Ltd Heaney, S. (2009), CDA5937 The Burial at Thebes – Interviews (AA100 Audio CD), Milton Keynes, The Open University Moohan, E (2008), ‘Glossary’, in Moohan E (ed.), Reputations (AA100 Book1), The Open University, pp.231-238 Theocharis, J (2009), CDA5937 The Burial at Thebes – Interviews (AA100 Audio CD), Milton Keynes, The Open University

COBOL :: Essays Papers

COBOL In the summer of 1998, St Louis Public Schools ( SLPS ) chose to convert form it's IBM System/390 mainframe to a client server environment. Not only was the SLPS affected but the Public School Retirement System ( PSRS ) was also affected since they use their mainframe system. PSRS started looking for a solution for their processing requirements. They were debating on weather to obtain an existing package to replace their system If they did would the be able to convert it to support how they run their business, or would they have to change how they conduct business to match the new software. They were also confused as to what new equipment might have to be purchased since they currently were running on older standalone workstations without a server. The organization decided to purchase new workstations, a server, a high-speed networked laser printer and Windows/2000 workstation and server components. Due to the organizations small size they elected to hire two contract software engineers to assist in the conversion, as well as process year end systems. The company also had to select a programming language, they decided on COBOL, the SLPS had a free copy of Micro Focus Net Express COBOL called the University Edition. It is available for schools to utilize in a classroom situation. The software was reviewed, it was decided that it would be adequate for their needs. It had features necessary to satisfy the requirements. Net Express is a Windows based product that is extremely powerful. That mainframe COBOL code formed the basis of the conversion, The conversion consisted mostly of modifying select statements, CICS code, some program calls to mainframe support routines, 'compare' statements also had to be checked for sequence problems ensuring that a mainframe 'if' statements of 'equal to' or 'greater than' were still valid for an ASCII based environment. The company found Downloading software and data files from the mainframe relatively easy, they used a mainframe access program called â€Å"Extra!† Packed fields were unpacked on the mainframe, downloaded to the server, and repacked if necessary. After the conversion took place the next task was to conduct year-end processing. This involved many tasks for the organizations, including; closing out of last year's business, income tax, providing information to our retirees, allowing for Open Enrollment for various insurance plans, and providing data to our actuarial firm to assist in funding and benefit decisions.

Why does Holden fear adulthood? Essay -- English Literature

Why does Holden fear adulthood? The novel catcher in the rye is set in the 1950’s and is narrated by a young boy called Holden Caulfield who is sixteen years old. He tells the story between the end of his school term and Christmas break. We know he is in a mental hospital and is telling the story of a few days he spent in New York city, he shares his feelings, emotions and opinions against the world surrounding him. Holden Caulfield, he is a person who feels the need to be in control of everything in his life, but the problem comes when he finds himself in the transition between childhood and adulthood. Holden wants and tries to act like an adult, but is unable to accept the fact he is becoming one, perhaps because of his association of adulthood with phonies and all he hates. By being in the stage where he is, he manages to avoid change, control his world with his own hands, yet creates a paradox between what he is, and what he wants to be. Possibly the main reason to why Holden doesn’t want to become an adult is his perception of †phoniness† and hypocrisy surrounding adult society. Holden shows his criticism towards most of the grownups who intervene in his life, specially those related to his schools. We can take Ossenburger as an example, he represents everything Holden hates, wealthy famous character who for Holden only gives phony speeches on how to live life. â€Å"He said he talked to Jesus all the time. Even when he was driving his car. That killed me, I can just see the big phony bastard shifting into first gear and asking Jesus to send him a few more stiffs† (Pg 17). This is just one of many examples Holden sees as fake. Phoniness is his main concern against society. Holden lacks the capa... ...and wanted to be an adult. Holden fears becoming an adult in mind and heart, but wants to become one in his actions. He wants to be safe but take chances. It’s a battle between childhood and adulthood, between innocence and phoniness. This battle is what has made Holden’s world an illusion, what has made him a madman. Holden fears landing form his illusion, becoming what he despises, knowing his protection is lost and knowing he is vulnerable to the world. What we see in Holden is probably not uncommon at all, he wishes to be a child at mind where it satisfies him internally but an adult in his actions, just like everyone, they get the side of the situation which satisfies them most. We never see what Holden becomes, but we see how his paradoxical way of acting and thinking is just a reflection of his fear of taking the full step into the adult society.

The Inflammatory Response

The body is designed to defend itself against invading bacteria, and infection. The skin and mucous membranes are the first line of defence, the invasion of foreign bacteria can pass this first line of defence and immediately triggers the second line of defence. The second line of defence is the inflammatory response (McCance & Huether, 2009). The mechanism of the inflammatory response is to protect the injured site by killing the agent responsible, limiting its effects on the rest of the body and initiating the healing process (Porth, 2007). According to Botwinski (2001), during infection bacteria grow and divide, and release potent toxins that cause damage to the body’s cells. These toxins trigger the initiation of the inflammatory response. The changes that occur are initiated by the interactions between bacterial products and inflammatory mediators. Inflammatory mediators are chemicals that are released by protective cells or plasma when harmful agents invade the body. Inflammatory mediators include histamine, prostaglandins, and leukotrienes (Kumar, Abbas, Fausto, Robbins, & Cotran, 2005). The main cells involved are the mast cells and are located in connective tissue in close contact with blood vessels. Mast cells play a key role in the inflammatory response, when stimulated by infection they release a potent substance called histamine. When histamine leaks into the tissues it causes changes in the surrounding blood vessels. The two changes that occur in the blood vessels is blood vessel dilation and increased capillary permeability. The changes are designed to maximise the movement of plasma proteins and circulating cells out of the blood flow and into the site of infection (McCance & Huether, 2009). At the onset of injury the histamine that is released causes the blood vessels at the site to constrict for a short time then dilate (Nair, 2009). This widening of the blood vessels increases blood flow, and therefore increases the amount of oxygen, nutrients, and white blood cells being delivered to the site of injury (Botwinski, 2001). New blood vessels can also open up at the site and the area becomes flooded with blood. This increase in blood flow produces the characteristics of redness and warmth and are the earliest symptoms seen in the inflammatory response (Porth, 2007). The blood vessel wall confines blood products and cells in the circulation and prevents it from leaking out into the surrounding tissues of the body. This is done by cells called endothelial cells that tightly line the walls (Braun & Anderson, 2006). The chemicals that are released at the site of injury bind with receptors on the endothelial cells and cause’s them to retract producing gaps in their walls. This structural change allows healing fluid and cells to escape out into the affected area (Porth, 2007). Braun & Anderson (2006) describe that the harmful bacteria are diluted by this increased amount of fluid. The increased fluid and pressure produces the swelling seen at the site of infection. Nerve endings can also be stimulated as a result from the increasing pressure and this is what can cause the pain associated with infection (Nair, 2009). An important part of the inflammatory response is to send circulating white blood cells to the infected area. They are attracted in large numbers to the scene of injury as a result from blood vessel dilation and the release of bacteria substances and inflammatory mediators (Kumer et al. 2005). The white blood cells job is to provide a defence by killing invading bacteria, and getting rid of dead tissue. The main white blood cell in the inflammatory response is the neutrophil and arrives first at the site of inflammation approximately six to twelve hours after the initial injury (McCance & Huether, 2007). Macrophages are cells that live in various tissue locations and like the neutrophils they are released in the blood stream and attracted to the su bstances released at the site of infection. Macrophages and neutrophils are called phagocytes, and share the same job in the inflammatory response, which is to clean up the damage by ingesting and killing the invading bacteria (McCance & Huether, 2005). According to Sherwood (2009), the phagocytes floating in the circulation stick to the inside of the blood vessel wall, this process is called mirgination. Diapedesis then occurs, in this process the phagocytes squeeze through the gaps of capillary walls that were formed earlier on in the inflammatory response. Chemical mediators called chemotaxins accumulate at the site of infection and attract the phagocytes. Once inside the surrounding tissue the phagocytes make their way through the tissue to areas where there are higher concentrations of chemotaxins, this process is called chemotaxis (Roitt & Delves, 2001). Once at the affected area the neutrophils and macrophages eliminate the invading bacteria from the inflammation site by a process called phagocytosis. Phagocytosis is â€Å"cell-eating† and is a three stage process composed of recognition and attachment, engulfment, and killing and degradation (Kumar et al. , 2005). Phagocytes have receptors on their surface that enable them to recognise and attach to the receptors on the surface of the microorganism, this attachment prevents the bacteria from â€Å"getting-away†. In the process of engulfment the phagocytes stretch two surface like projections called pseudopods around the microorganism until it completely surrounds it, the microorganism is then trapped inside. Potent chemicals and enzymes are released inside the phagocyte and these break down and kill the invading microorganism. The pus that forms at the infected site is the accumulation of these phagocytic cells both living and dead (Sherwood, 2009). McCance & Huether (2009) describe that there are three protein systems that are also initiated during the inflammatory response. They are the complement, clotting and kenin systems, and consist of protein enzymes. These systems work along side the protecting cells and help them carry out their roles. The complement system consists of potent defensive proteins that help in the destruction of invading bacteria. The clotting system produces fibrinous tissue that acts as a boundary by trapping the bacteria and maximising the activity of the phagocytic cells. The clot that is formed also minimizes blood loss and prevents spread of infection (Botwinski, 2001). The kenin system consists of mainly bradykinin a protein that cause’s dilation of vessels, vascular permeability, and pain (McCance & Huether, 2009). The protective mechanisms of the inflammatory response prepare the site for healing and regeneration of the destructed tissue. Depending on the severity of infection and damage this can be a long process and is finished when structure and function is returned to normal (McCance & Huether, 2009).