Technology Improves Transportations Research Paper

Innovation Improves Transportations - Research Paper Example The scientist expresses that transportation today is one of the most critical and fundamental element of all the field of human life, particularly of global exchange for example dispatching, farming, food industry, development, voyaging, the travel industry, and number of different business handle, that just can't proceed even a solitary advance without the help of transportation. The protected and secure conveying of travelers, expedient liberation of items, and safeguarding of nature of various products are most significant issues for the achievement of transportation organizations. Because of this explanation, clients counsel dependable organizations which use the most recent methods of transportation and advancements for effective conveyance. The utilization of most recent advancements has presented new patterns in transportation industry and put certain immediate ramifications on various entertainers related with this field. These on-screen characters incorporate foundation (for example streets, expressways, spans, railroads, metros, tramways, air terminals, seaports and so on), methods of transportation (for example transports, vehicles, rails, cable cars, planes, cargo and so forth), and capacities relating to of transportation industry. Since clients keep themselves persistently draw in with new inventive administrations in all features of life, along these lines, by concentrating on transportation industry, this examination paper depicts the advancement of present day advances and their definitive effect on the improvement of various parts of transportation just as upgrading effortlessness in transportation today and expanding it's stream capacity.... In any case, its disadvantage is that it is a lot of tedious than different methods of transportations. It is essentially the gift of current innovation which empowered the development of streets, air terminals, railroads, metros, and cable cars. Black-top compactors are utilized for rapid compaction and completing of streets. Water driven Trucks have the ability to lift 200 to 250 tons of burdens due to having a swing-endlessly cross section jib expansion which gives it extra 30’ to 40’ of length. Other than these hardware, excavators, fork lifter, pavers, trenchers, crawler loaders, and some different random apparatus is utilized all through the world to develop and fix the streets and roadways in fast manner (Vehicle Valuation Services, Inc). Air transportation is one of the main administrations in transportation industry. Overwhelming building innovation is worked for the development and re-covering of runways. Auto sweeper transports are being utilized to forestall the air traffic from Field Object Damages which may create intense results for planes. The utilization of cutting edge crash tenders on air terminals, for salvage and firefighting administrations, have expanded the transportation security complex. FLF Panther, Alvis Salamander, E-1, and MB are some most current accident tenders directly being used at quantities of air terminals. Establishment of Doppler Radars and Automated Weather Observation Systems, have likewise expanded the wellbeing of airplane from any natural impact (CopRadar.com). Improvement in Transportation Modes The world had never such gigantic quantities of transportation modes as today it has. In antiquated occasions, human used to go on creatures. Today, it has vehicles, transports, rails, cable cars, trams, boats, and airplane to go from one spot to other or to load its items anyplace

Economic Globalisation and Competition

Financial Globalization and Competition 1. Presentation Rivalry is an indispensable component of the market economy and is an effective methods for ensuring shoppers a degree of value as far as the worth and cost of items and administrations. Monetary globalization includes expanded unpredictable development inside worldwide exchange and accordingly in subject of rivalry law. Article 81(1) of the EC Treaty ‘prohibits understandings between endeavors; choices by relationship of endeavors and purposeful practices which may influence exchange between Member States and which forestall confine or twist competition’. These understandings will be void as indicated by 81(2). In any case, the understandings which fulfill the conditions set out in article 81(3) EC will not be denied, no earlier choice with that impact being required. 1.1. Hostile to Competitive Agreements Article 81 of the EC Treaty, denying hostile to serious understandings, must be considered comparable to every single business concurrence with a likely EU cross-outskirt sway. The Horizontal and the Vertical understandings are the understandings, which are significant for the reasons for the utilization of the opposition rules. Even understandings are those between endeavors working at a similar degree of creation or promoting, while vertical understandings are those finished between endeavors working at various financial levels. Under EC Competition Law, controls remembered for vertical understandings are viewed as not as much harming than those remembered for flat understandings. In Consten and Grundig v Commission the European Court of Justice thought about that Article 81(1) EC applies not exclusively to flat understandings yet in addition to vertical understandings. The later decisional practice of the Commission on the treatment of vertical game plans under Art 81(1) and 81(3) EC, and the case law of the Community Courts, have been one of the most questionable and seriously scrutinized parts of Community rivalry strategy. These understandings are significant for the working of the economy. Business understandings might be excluded from the use of article 81(1) under article 81(3). 1.2. The Vertical Block Exemption Regulation In any case, there is a ‘safe harbour’ for endeavors: the Vertical Block Exemption Regulation 2790/1999. Safe harbors exist for specific understandings including limitations giving conditions are met so understandings falling inside the particulars of the Regulation are excluded from the use of Article 81(1) EC ensuring the enforceability of the understanding and allowing assurance from antitrust arraignment. Therefore, if endeavors wish to be sure that their vertical understandings are in accordance with EC rivalry law, they ought to concede to statements inside the extent of the Regulation. Outside this protected harbor, the European Commission’s Notice Guidelines on Vertical Restraints are a useful guide for the appraisal under Art 81(3) EC and are clarifying the use of Regulation 2790/1999 and the Commission’s way to deal with vertical restrictions. The Guidelines on Vertical Restraints sets out the standards for the evaluation of vertical understandings under Article 81, including the use of the Regulation to vertical understandings. Article 2(1) of the Vertical Block Exemption Regulation gives the meaning of vertical understandings and states that Article 81(1) will not make a difference to ‘agreements or deliberate practices went into between at least two endeavors every one of which works, for the reasons for the understanding, at an alternate degree of the creation or dispersion chain, and identifying with the conditions under which the gatherings may buy, sell or exchange certain products or services’. The Commission received the Vertical Block Exemption Regulation on 1999 and the new Block Exemption Regulation is normal in 2010. Adjustments may remain very constrained and may concern, particularly, the introduction of progressively certain principles on online business, on web deals and the treatment of resale value upkeep. 1.3. Extent of Application of the Vertical Block Exemption Regulation The target of the Vertical Block Exemption Regulation is to absolve certain classes of vertical understandings that, under specific conditions, may improve financial effectiveness inside a creation or appropriation chain and is aimed at vertical understandings for the buy or offer of products or administrations. The Regulation spreads different vertical understandings and applies to an understanding went into organizations, which don't work at a similar degree of the creation or appropriation chain. Understandings are secured by the Vertical Block Exemption Regulation on diversifying, specific dispersion, restrictive managing, elite buying, select gracefully, and non-certifiable office understandings inside the extent of Article 81. An office understanding falls outside article 81(1) where the operator bears no or just irrelevant dangers comparable to both of these issues. Article 81(1) doesn't have any significant bearing to specific understandings or deliberate practices went into between at least two endeavors. The idea of an endeavor was examined in Hofner and Elser v Matrocton. It was expressed that: â€Å"The idea of an endeavor incorporates each substance occupied with monetary movement paying little mind to the lawful status of the element and the manner in which it is financed†. The meaning of contending endeavors in Article 1(b) remembers real or potential providers for a similar item showcase. The avoidance might be very wide and questionable in application. In Tetra Pack I it was viewed as that an agreement inside the details of the Vertical Block Exemption Regulation appreciates exception from Article 81(1), yet not from article 82 except if the Commission pulls back the exclusion for the future, with a choice. The Regulation doesn't make a difference, be that as it may, to vertical understandings to lease and rent understandings, as no deal happens and to understandings which have as their essential item the permitting of protected innovation rights, nor car conveyance understandings, nor understandings between contenders, aside from on the off chance that they are subordinate to a vertical understanding and encourage the buy, deal or resale of the agreement merchandise or administrations by the purchaser and vertical understandings whose topic falls inside the extent of another square exclusion guideline. Additionally, the Vertical Block Exemption Regulation doesn't cover any limitations or commitments that don't identify with the states of procurement, deal and resale. The Regulation doesn't have any significant bearing to vertical concurrences with a topic that falls inside the extent of some other Block Exemption Regulation. The utilization of the Regulation, in specific conditions, can be pulled back by a choice of the European Commission, or the national rivalry specialists. Additionally, the European Commission can authorize a guideline announcing the Regulation typically inapplicable to specific understandings including explicit limitations. 1.4. Understandings between Competitors The Vertical Block Exemption Regulation doesn't cover vertical understandings that are finished up on an equal premise between contenders. This prohibition might be exceptionally wide in light of the fact that it incorporates both real and potential contenders, with the last being characterized as organizations that would be capable and liable to enter the market inside one year. Vertical understandings between contenders are secured by the Vertical Block Exemption Regulation if the understanding is non-equal and the purchaser has a turnover not surpassing â‚ ¬100 million or the purchaser isn't a maker of contending products however just a contender of the provider at the conveyance level. Additionally, are secured and where the provider is a supplier of administrations working at a few degrees of exchange, while the purchaser doesn't give contending administrations at the degree of exchange where it buys the agreement administrations. 1.5. Rundown Article 81(1) EC precludes understandings which have hostile to serious impacts. By sanctioning the Vertical Block Exemption Regulation, the Commission has build up ‘safe harbors’ for endeavors, that diagram conditions with respect to when vertical understandings and coordinated practices that have an enemy of serious reason or results and would be restricted under article 81(1) may be worthy since they fulfill the measures of article 81(3). At the point when an understanding satisfies the conditions set out in the Regulation, the understanding is substantial and enforceable. The Vertical Block Exemption Regulation is a measure under European Union law that concedes an exclusion from the use of Article 81. Understandings that meet the conditions set out in the Regulation are considered either not to unfavorably influence rivalry on the important European market(s) or just to influence rivalry to a certain point. It is currently time to inspect if the Vertical Block Exemption Regulation has worked and whether the Regulation and the vertical Guidelines are need any alteration, and, assuming this is the case, what must be finished. PART I Prerequisites of the Application of the Vertical Block Exemption Regulation The Vertical Block Exemption Regulation contains certain prerequisites that must be fulfilled previously, for the vertical understanding can profit by the Regulation. The piece of the overall industry of the provider must not surpass 30% (Article 3). Likewise the understanding must not contain any of the no-nonsense limitations (Article 4). At long last, the Regulation contains conditions identifying with three certain limitations (Article 5). 2. The Market Share Cap The Market Share limit is likely one of the most significant arrangements of the Vertical Block Exemption Regulation. In Article 3(1) is expressed that ‘the piece of the overall industry held by the provider doesn't surpass 30% of the applicable market on which it sells the agreement merchandise or services’. Additionally, Article 3(2) states that ‘in the instance of vertical understandings containing restrictive flexibly commitments, the exception accommodated in Ar

With Reference To At Least TWO Of The Following Plays, Discuss How

With Reference To At Least TWO Of The Following Plays, Discuss How With Reference To At Least TWO Of The Following Plays, Discuss How Conflict Is Established And (if â€" Essay Example > FarzeelaSpanish PlaysDec-6th- 2005Spanish Plays: English TranslationPedro Calderon de la Barca was one of the greatest Spanish playwrights of the Golden Age. Among his well-known dramas of the modern age are El medico de su honra (1635; The Surgeon of His Honor), La vida es sueno (1635; Life Is a Dream), El alcalde de Zalamea (1640; The Mayor of Zalamea), and La hija del aire (1653; The Daughter of the Air). He was a man who possessed his own religious, philosophical and methodological themes, which are reflected in his masterpiece. His work mainly portrays and revolves around three protagonists, out of which we are going to discuss and differentiate between one: Men and WomenClassesGod and ManTirso de Molina: El Burlador de Sevilla - The Trickster of Seville and the Stone GuestTirso, being a devout priest portrayed a character reflecting Satan and evidently realized that his Don Juan character was too supernatural in power and deftness to fulfill any role as a warning to the simp le mortals in the audience who might also enjoy tricking women. Tirso therefore reversed the ethical emphasis of his play to show a morally degenerate society-his society that ignores the fundamental issue of why such a creature could so successfully operate in its midst. The drama’s message is therefore directed to everyone in the audience to observe and learn a lesson from a simple theme that good ends up in a good result while bad always ends up worst. “As a man soweth, so shall he reap (‘quien tal hace que tal pague’)”. If the theatergoers see the social corruption on stage as a reflection of their own environment, then perhaps out of moral shame and self-respect they will try to remedy the situation and make their society one in which the Don Juan type cannot operate. This appears to be the fundamental moral lesson of the drama for it speaks to the whole of society and not just to a few isolated members. In the play of “The Trickster of Seville and the stone guest ” the conflict I would like to discuss is between Don Juan and God or between good and evil, which has started right from the day God created Adam and is till on its way. In this sense the conflict seems to be between man and Satan so it would be wrong to say that conflict between Satan and God has resolved. However in this play, Don Juan acts as an adversary of God tries to convict humans but still has presented himself a super natural power which more or less resembles the evil, as he is devilish in his nature so called “a man without a name, ” an elemental and biological force in nature who, through the use of darkness, self-effacement, and lies, deceives the unsuspecting female. He is clearly also the master of disguise, being able to impersonate the voice and body of others to such a degree that the female is totally unaware of the deception. The conflict in this play actually revolves around the character of Don Juan as a Satan who employs the same evil methodology in virtually every situation. He lies, uses the cover of darkness, and works on the moral weaknesses of others to achieve his own ends. He could not have seduced Isabela if she had not wanted to be seduced, as it is his perception that unless and until the person itself does not want, he is unable to serve him, the same perception which Satan possess.

Analysis Of Judith Butler s Beside Oneself Essay

How do we define â€Å"human?† This is a question that has become more difficult and bewildering to answer as time passes day by day. Judith butler tries to answer this age-old question of how we define â€Å"human†. In Butler’s essay, â€Å"Beside Oneself† it demonstrates the predominance of sexual orientations and how the role of society has influenced human’s lives. In turn, the essay asks many questions that challenges the readers to think critically and look within outside the norm and interpret for themselves what one believe the answer for Butler’s ideology. However, Butler failed to define clearly the most important question, how do we define â€Å"human?† Although, Butler made the claim that to be defined as human is to be part of the society and be accepted into the social norms, humans should not be based on standards of being accepted by the society. Instead humans should be defined by humanity (caring for those in need), and the freedom to critically think for ourselves. It is very common to confuse the word â€Å"human† and â€Å"person†. One way to address the definition of human is to know the difference between the word human and a person. The difference between human, and person is that human is referred to of, or consisting of people of, relating to the social aspect of people (dictionary.com). A person is a human being in the form of adult or child, and distinguished differently from an animal or a thing (dictionary.com). Butler uses the terminology â€Å"human† rather than a â€Å"person†

Out Break of the American Revolution - 1076 Words

Outbreak of the American Revolution 2 The connection between Britain and the English colonies was that of the ruling of the colonies by the king of Britain, King George III and his parliament. The king’s ruling was very unfavorable for the colonists because of his tyrannic dictatorship and unjustly taxations. The mere thought of an island ruling an entire continent thousands of miles away with poor communication and lack of supervision of the colonies by the king, did not work in favor of the colonies nor for Britain. Three contributing factors for the outbreak of the American Revolution were (1) the king’s taxes, (2) neglect of the 13 colonies and (3) England’s mercantilism policy. King George III and his decisions were one of the†¦show more content†¦Therefore, Paine destroyed the importance of the British constitutional system as a guarantor of liberty and as consistent with reason and human needs. He launched his enterprise with a withering attack on the pretensions of monarchy after t he rejection of the Olive Branch Petition, the new focus of the Americans sense of betrayal and wrath. Loyalty to the monarchy was not important to the Americans. By demolishing the monarchy, and exposing the British constitution as built on monarchy, Paine suggested that the Americans consider independence from the British monarchy. Additionally, by exploding the constitutional context, he also transformed the argument from being the sole province of those politicians learned in the law, customs, and usages of the British system to an argument in which all Americans could and should take part. England Mercantilism Policy The mercantilism policy gave more money and more power to Britain. Parliament enacted four types of mercantilist regulations. The first aimed at ending Dutch dominance Outbreak of the American Revolution 5 in England’s overseas trade. The second type of legislation pertained to trading. The third and fourth policy pertained to manufacturingShow MoreRelatedSimilarities And Differences Between The French And Latin American Revolutions1044 Words   |  5 PagesAmerica. The North American and Spanish American Revolutions were similar in that they both shared the common goal of liberation from the foreign colonial governments that ruled over them. However they differed in that there was no goal for social reform in the American Revolution, but in the Haitian Revolution the slaves had the goal of social reform of the rigid social class system. Another difference between the revolutionary processes in the two regions is that the American Revolution was successfulRead MoreEssay on Treason in the Eye of the Beholder1184 Words   |  5 PagesThere is a fine line between treason and revolution, however when the two come up it very likely that the individual that is being of accused of e ither can go from one or the other in the blink of an eye. During the late 1700’s America was going through some of the most difficult times of its history. The struggle with Britain was becoming harder and those within the colonies were unsure what direction they wanted to take the colonies. Thomas Paine however knew exactly what direction he felt theRead MoreThe American Revolution : The Revolution1367 Words   |  6 PagesThe American Revolution Revolutionizes the World It was the first revolution to majorly succeed and change how people saw their countries, it was the American Revolution. 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For the colonies, being part of the British Empire meant that there were advantages as well as eventual disadvantages. The advantage was that, since the colonies were part of the British empire, they could trade with theRead MoreThe American Revolution And Its Effect On American History1537 Words   |  7 PagesThe American Revolution began in 1775. Due to the Revolution 1775 proved to be one of the most productive years in American history. The American Revolution caused great changes in the original thirteen colonies that helped mold the United States into what it is today. The revolution caused changes in the original colonies’ economics, caused immense changes in slavery, and changed the society of the colonies in general. As a result of the French and Indian war Britain neglected the American colonies

Technology Free Essays

Questions to research: Are advertisements aimed at teenagers effective? And, are they ethical? My Response:  Most advertisements aimed at teenagers are effective, but usually are not ethical. Most marketers have many ways of gathering information on teenagers spending habits and what is most important to teens. With this information they’re able to create advertisements that will appeal to most teens and create profit. We will write a custom essay sample on Technology or any similar topic only for you Order Now Many people argue that some or most of these ads aren’t ethical because they will create a problem or insecurity and then give the solution to that problem in the form of their product. Central Idea: The most effective ads show teens using and enjoying a product. The least effective were those that caused an emotional response. A teen’s acceptance of ads varies according to the media platform. The medium with the lowest teen ad acceptance was texting. The â€Å"Teen Advertising Study†, compiled with the help of the University of Massachusetts, showed that teens were more susceptible to online ads if they could relate to it and if they found it funny. Central Idea: Marketers love teens because they easily spend money on â€Å"luxury† items such as clothing, electronics, and music. They mostly make their purchase decisions independently, have significant influence on family purchases, and companies know that once they have â€Å"branded† a child, they are likely to be customers for life. They reach kids by advertising in magazines, movies, TV shows, and on the internet. Companies get info about kids spending habits from internet â€Å"quizzes† and â€Å"surveys†. Marketers know how to capitalize on important teen issues and anxieties, like body image, peer acceptance, coolness, and need for power. Marketers often use a theme or attitude like sex or alcohol and drug use that seems to raise the  Ã¢â‚¬Å"coolness factor† of their product. Advertising is so effective because it creates insecurities about things such as appearance. Successful ads convince the viewer that they have a problem and then offer the solution, which is the product they’re selling. This gives off the messages that teens aren’t good enough the way they are and many kids unwillingly buy into that message which is causing kids to grow up in the most materialistic society we’ve ever had. Most of the things that are advertised to teens do not promote healthy development. Central Idea: In one year, teens view more than 40,000 ads on TV alone while also being exposed to ads on the internet, in magazines, and in schools. Teens are often the main target for marketers because they are always willing to spend money on the newest â€Å"luxury† items. Teens strive to have the newest electronics, clothing, and other overly advertised items. Marketers know how to target teen issues such as body image, peer pressure, and the need for acceptance. On average, teens are exposed to 3,000 ads per day. Teenagers, on average, spend $155 billion per year on advertised products, also influencing their parents to spend another $200 billion per year. Recent studies have shown tobacco companies use their ads to target teens as young as 13-years-old. Another major advertiser is the alcohol industry, using ads that feature young, attractive people drinking or posing with their beverages. Ads affect teen psychologically by exposing them to ads that suggest they are not what the entertainment business considers attractive. Ads can be harmful to teens by lowering their self-esteem. Children, Adolescents, and Advertising http://pediatrics.aappublications.org/content/118/6/2563.full Central Idea: Children and teens view 40,000 ads per year on TV alone even though the Children’s Television Act of 1990 limits advertising on children’s programming to 10.5 minutes/hour on weekends and 12 minutes/hour on weekdays. M-rated video games, which are not recommended for children younger than 17-years-old, are frequently advertised in movie theaters, video game magazines, and publications with high youth readership. Young  people see 45% more beer ads and 27% more ads for hard liquor in teen magazines than adults to in their magazines. An increasing number of web sites try to get teens to make direct sales. More than 100 commercial websites promote alcohol products. Most advertisers use techniques that children and teens are more vulnerable to, like product placement in movies and TV shows, action figures, kid’s clubs, and celebrity endorsements. Sex is used in commercials to sell almost anything now. American ads constantly use thin female models, which contribute to the development of self-esteem issues in young girls. Thesis Statement With marketers aiming their advertisements more towards teens every day, researchers are looking into how effective and ethical these advertisements really are. Outline The Ethics and Effectiveness on Advertising toward Teens Thesis statement: With marketers aiming their advertisements more towards teens every day, researchers are looking into how effective and ethical these advertisements really are. I. Teens are being exposed to advertisements more each day. a. . Companies gather info about teens’ spending habits from internet â€Å"quizzes† and â€Å"surveys†. b. Children and teens view more than 40,000 ads per year on TV alone. c. More than 160 magazines are now targeted towards teens. II. Different factors will make an ad effective. a. Teen’s acceptance of ads depends on the media platform. i. Sponsorships of live events had the highest level of acceptance. ii. Text messaging had the lowest level of acceptance. b. Least effective ads were those that caused an emotional response. III. The advertising strategies marketers use have been shown to be unethical. a. M-rated video games are frequently advertised in movie theaters, video game magazines, and publications with high youth readership b. Young people see 45% more beer ads and 27% more ads for hard liquor in teen magazines than  adults to in their magazines. c. Advertising is so effective because it creates insecurities about things such as appearance. i. American ads constantly use thin female models, which contribute to the development of self-esteem issues in young girls. ii. Gives off the message that teens aren’t good enough the way they are. Body Paragraphs I believe that the advertisements aimed at teens are effective, but unethical. Through a number of research tactics marketers are finding ways to keep up with the ever changing trends in teen culture. With the information they gather they’re able to produce advertisements that ultimately pressure their audience into buying their product. With marketers aiming their advertisements more towards teens every day, researchers are looking into how effective and ethical these advertisements really are. Technology based advertisements are effective among teens because of how often they are exposed to ads, the ads appeal to their lifestyles, and even sometimes pressure teens into buying their products. Advertisements have rapidly been integrated into the world around us. â€Å"Young people view more than 40 000 ads per year on television alone and increasingly are being exposed to advertising on the Internet, in magazines, and in schools.† (pediatrics.aappublications.org) Teens are heavily influenced by these ads because of how often they are exposed to them. Marketers are gathering information about teens’ spending habits through quizzes and surveys. ‘Teen Advertising Study’, which was compiled in conjunction with the University of Massachusetts, revealed that teens were more susceptible to online advertising if they could relate to it and if they found it funny.† (utalkmarketing.com) With information like this they’re able to determine what type of ads would be effective on the teens of today. Different factors can make an ad effective, such as how they’re viewed and if it’s relatable to their audience. The most effective ads showed teens using and enjoying their product. For example, in this PlayStation 4 Interface commercial, you’re shown teens happy with their product and you’re given a glimpse of some features. This is considered an effective ad because it features the newest upgrade of their product, they’re being shown new features and games, and seeing other teens happy  with the product would give them a positive feeling about having it. This ad also shows both genders enjoying their product, suggesting they support both genders using the PS4. An example of an ineffective ad would be the Microsoft Surface commercial, in this commercial you can see people enjoying their product but you’re not given a look at what their product can do. It’s a fun ad to watch, but it doesn’t provide enough information for a tee n to considering buying their product. Lastly, many advertisements aimed at teens have been said to be unethical in order to be effective. Marketers will bring up a problem in their advertisement; this problem might be based on social status, then they will provide a solution in the form of their product. For example, in this Samsung Galaxy S4 commercial you see only younger people using their product while the older people are just learning about this product. This suggests that if you have their product you’d be cool and up to date with the world around you. This ad seems to guilt the target into thinking what they have isn’t good enough and their product would make them cooler. Conclusion In conclusion, I think advertisements aimed at teens are effective, but unethical. Teens are being exposed to advertisements more each day. Advertisements can be found all around them, in schools, online, through T.V., etc. Marketers are constantly doing research to improve ads to be more appealing to their target audience, teens. Through the information they gather, they can create advertisements that will persuade their audience into buying their product. An effective ad would feature other teens enjoying their product. An effective, but unethical ad, would be an ad that brings up a problem, such as a teen’s social status, and then present a solution in the form of their product. How to cite Technology, Papers Technology Free Essays Technology is defined as the combination of technique, skills, methods, basic tools and processes that are made use in the production of goods and service. In other terms it is called the ‘science of craft’. While the Global Economy refers to the economy that encompasses the whole world, it is thought as the international exchange of goods and services that’s translated in monetary terms. We will write a custom essay sample on Technology or any similar topic only for you Order Now (wikipedia, 15 April 2018). In a vague sight of the contemporary economic history there are two trends in the world economy it suggests: first innovations in technology are uprising to be a significant contributor to economic well-being. Secondly nations in global economy are pointing towards being interdependent and open in a growing way. Innovators from different parts of the world are coming together rapidly, this means that there is no denying that technology has a significant percentage in shaping the global economy.Is technology still fulfilling the role and purpose it was embraced for?In this research I intend to find out whether or not technology is still being regarded as it was when it was first embraced in the earlier times. This is based on how technology has empacted the world economy and its markets. The purpose of technology is clearly judged on how and why it affects the global economy.Before the analysis of how technology Is impacting the world economy it is rather of great importance to first be enlightened even slightly so as to how technology was introduced to economies in different countries comprising of the global or world economy at large. Just as important is also to bear in mind the coming about of economic growth. The History of TechnologyTechnology forms part of a perplexed and diverse body of knowledge and devices through which man in an ongoing way manage to perfect his natural environment. The history of it is rather inclusive of wild and not properly defined. The findings for the complication of the study, dates to the modern time where there is a contrast of technological history than that which as popularized by the story of political and intellectual development. During the nineteenth – twentieth of the human story will be touched on briefly. The Old Stone Age man referred to as the Paleolithic were few and scattered they managed to come up with not much to give them the ability to conquer their environment. Then came the Middle Stone Age referred to as the Mesolithic, they were named this because it was a period of transition between the end of the last ice age an d the early stages and era of human settlement and cultivation. Again there is the Neolithic Man, this is a man emerging from savagery and holds the solution of the basic problems of his environment. He was able to grind, polish and drill his craft of hard stone. However he needed to attain knowledge of metal-working for a greater form of effectiveness in his quest of mastering his environment, this concluded an increase in population.The first use of metals was the day break of civilization as we know it. Relating it to its material aspect the history of civilization is the history of technology. (Thomas P. Hughes, (â€Å"A Short History of Technology: From the Earliest Times to A. D. 1900. T. K. Derry, Trevor I. Williams,† Isis 54, no. 3 (Sep., 1963): 417-418.) With regards to Economic Growth HistoryAfter Adam Smith the focus of classical economics in the 19th century was long term growth. After much findings there was a development of a negative view of it. Upon other findings was the realization that the United States of America in the 19th century was perceived to be growing as a result of its exploitation of other continents that were rich in resources. Resources were found to increase long term growth. Economists then transferred their focus to neoclassical economics in the late 19th century and the early 20th century, which comprises of a closed economy. They developed tasks to thoroughly look at optimizing the use of scarce resources by businesses. The focus was on short-term growth rather than long-term growth. The worldwide depression of 1903, J.M Keynes’s aggregate demand management was found as a solution to reduce cyclical fluctuation and leading to unemployment. After putting together Keynes’s concept with Neo classical methods of uttermost resource distribution by Paul Samuelson and Sir John Hicks there was a stagflation and low growth exposed its fundamental weakness. Following this unforeseen trends new schools of economics emerged: monetarist, new-classical and supply side etc. new school of economics encouraged much innovativeness with regards to economic trends and technological input for research and development.(Kuznets, (1973)) The above indicates the significance of the introduction of technology in the economy with regards to how it has impacted it and continues to impact it. It is of no doubt that this two are interlinked in more ways than one. However there are quite a number of pros and cons that have emerged in recent years as technological innovations continue to develop. Benefits of technology in the modern day economyThe level and the rate at which economies grow and develop in various markets and countries is interlinked with technological advancement. Technological innovation has helped underdeveloped countries slowly become developing and then ultimately developed. The developing of economies of different countries result in the growth and development of the global economy. Figure 1-3, in R’ are a diagram indication of an Isoquant of production function post-technological change. The innovation does not differ regards to labor and capital. However the new production function R indicates how the same output can be achieved through lower levels of labor and capital after technological advancements. (debasish, 2017) Technology helps the economy through job creation. The ICT sector has proved and remains to hold the title of being one of the largest employers. Stats in the U.S have shown that IT jobs are expected to increase by a significant number of 22% in 2020, thus creating about 758800 new jobs. In Australia, the plans of building and operating the newly established Super-Fast National Broadband Network will certify 25,000 jobs per year. The global Technology market is set to increase by 8%, this encompasses creating jobs, salaries and enlarging different services and products.A contribution to the GDP Growth of the Global Economy. Sources from different countries confirm the positive impact of the growth in ICT. A 10% rise in broadband penetration leads to a 1.2% rise in GDP growth in emerging markets. China reflected a 2.5% rise. GDP per capita growth rate goes up to 0,5% globally, while the internet shows a 3,4% overall in other countries. E-commerce is positively affecting the global economy. The emergence of new services and industries. Mobile phones have allowed a lot of of public services to be made known online. Modernization is incorporated with cloud computing. Moldova government found in Eastern Europe was found to be one of the first governments that moved its government IT infrastructure into the cloud launching mobile and e-service for their residents and businesses. Founding research indicates the Facebook to have provided around 182,000 jobs in 2011. Its value aggregated to worth 12 billion and above.Workforce transformation. Newly found â€Å"microwork† spaces, created by companies like ODesk, Amazon and Samasource have assisted to segregate tasks into manageable components which can be outsourced to contract workers. These contractors are usually found in emerging markets. Entrepreneurs have cut costs as a result of microwork. In 2012, ODesk singularly had above 3 million registered contractors doing 1.5 million tasks. Online payment system emerged as a result of this trend.Business Innovation. Over 95% of businesses in OECD countries operate online in some way. The internet brings innovative ways of getting access to customers and also competing for the market share. In past recent years, social media has evolved to be a marketing tool. ICT tools operating inside companies are assisting businesses on streamlining processes and increase efficiency. The eruption of connected devices throughout the globe has allowed new ways for businesses to reach out to their customers in service.(Kvochko, 2013)The stated above benefits or advantages however do not eliminate controversies that also surround technology impacting the global economy. There are prone difficulties and challenges that global societies are surfacing as technological change continues to emerge. As expected with any form of continued evolution and change.Controversies on technologyReliance on Technology. This can be a negative of how technology affects because of of technology has become a basic sphere of need for most if not all modern enterprises, production is impacted a lot by flaws and malfunctions of machines and IT systems. If there could be a disruption of connection, E-commerce business cannot run functionally. On the other hand there is reduced production if a machine suffers technical glitches. The more technological innovations grow, the more they will need highly specialized professionals to rectify or fix them if they malfunction.Loss of Jobs. As with much creation of job opportunities offered by new technology. There is a significant decline in middle class workers who are not in any specialty ad working rather manually. Machinery has in some way replaced human capital and a portion of manual labor. Factory workers have declined and been replaced by high tech machinery which slowly needs more IT supervision that physical help.(Vossos, Tasos. (2017, September 26). Advantages Disadvantages of Technology in Our Economy. Bizfluent. Retrieved from https://bizfluent.com/info-8373180-advantages-disadvantages-technology-economy.html)Less physical human connection. Online entertainment and social media platforms form a big part of technological advancement. People have taken a liking to rather communicate virtually that physically, from phone calls to texts to sharing pictures if there’s a need to ‘see’ each other. This in the long run will bring about a vague knowledge of one another in the human form and social connection will be based on how a person wants to be known rather than who they truly are. Other effects with recent finding s are the cause of depression and social attempts by teenagers and young adults who feel they cannot live up to the standards set online. Almost 80% of teenagers and adults are on social media platforms. In contrasting the earlier years of economic growth evolution and technological evolution. The above benefits and controversies mark a not so out of touch difference in the line of the length technology has gone in its development. Meaning it is still focused in more ways than one in bettering the world’s economy and markets. It is although inevitable for any implementation to have side effects. CONCLUSION Based on the findings of my research I have concluded that technology in its own has diverted into many spheres from the reason of just being introduced to help man cultivate his natural environment. It has not only helped but also overtaken man greatly in its efficiency and operation. Technological innovations have also been developed to be independent from the directory of man. Which may be the result of the lack of control and concerns as to its negative and controversial effect in the larger and global economy. The solution however that I propose is for the larger economy to go back to the fundamental reasons of why technology was introduced every time a new innovation is made. This will harbor controlled growth of the development of economies also in different countries leading up t a greater impact in the world economy. Countries still needing more technological advancement should be assisted by long advanced economies. This will ensure a greater level of desired impact in th growth of the economy and the global GDP and GDP per capita will rise significantly. How to cite Technology, Papers

Business Communication for Digital Analysis- myassignmenthelp

Question: Discuss about theBusiness Communication for Digital Resource Analysis. Answer: In the current economy, there are high uses of different communication skills due to the new inventions in technology. The new emergence in technology has made it easier for companies and corporates to communicate frequently with their employees and clients at the organization. At present research has proved that about ninety-percent of managers operate and promote their business products at the marketplace through social media interaction such as Twitter, Instagram, and Facebook among others (Dreher, p 3, 2014). Again, because technology is highly increasing, all managers in the business sector must also design new methods in interacting with their employees for effective services to the clients at the organization. In my discussion, I am going to discuss the relevance of using an internal intranet for efficient talks with the workers at a corporation (Gritzalis, et al, p 6, 2014) As a company dealing with a large number of customers, it is vital that the current social media platform is highly applied to have attainable results in terms of services and products offered. The consumers, for example, will be in a position to socialize with employees at the company and make their orders at any time. Further, at the workplace, social media is greatly important in that several information collected by the company from their clients to improve the corporate awareness and its responsibilities to the society. In essence, the impact of this 21st-century mode of interaction has become so pervasive to the business departments thereby growing in addressing matters affecting the organization for work to run smoothly. Additionally, the employees use the social media in determining the new updates and opportunities present at the offices where they work, that is to say, by regular use of internet interactions, everyone at the organization is updated on the adjustments made i n ensuring smooth operations of the business activities. According to Bondarouk et al, p 10 (2014), most employees in the offices today use social media to integrate their matters and share important knowledge concerning their daily business and company programs. Ideally, they also design a group page where they will receive information on the policies of the business, how to reach a large number of potential customers and news on the recruitment strategy of new workers for the company. For the group to protect their information, their leader must create a password in which only the authorized personnel shall operate the account. The people in the group must also ensure that they allocate positions irrespective of an individuals gender or race. Through close interaction, the staffs will have an upper hand in obtaining companys information and share their interests in meeting their desired needs at the company. In having such an open discussion throughout the organization by the Human resource personnel and the staffs, the enterprise will g reatly increase their productivity level thereby maintaining high competition in the market with other business companies. Therefore, different sectors at the corporate must apply their own mode of communication to other members such as websites, newsletters or emailing. This is easy and will enhance future interactions with active customers following the collaborations and announcements of urgent memorandums. The consumers will get information on their promotions and discounts on some products at the end of the working period as a way of encouraging more transactions with their clients. To be at the forefront of the marketplace, managers should give regular education and training to the employees. For instance, by recording a live video and posting to their social websites on the topic of discussion making them get prepared for the meeting (Leftheriotis Giannakos, p 10, 2014). On the other hand, despite social media being used by the employees of an organization and the society as a whole, the managers in those enterprises need to perform their work in accordance with the law under communication act commission. There is a labor law under the Labor Act Relations that allows employees to express themselves through social media that the administration must respect. The selected sites such as LinkedIn and Facebook among others must be used appropriately in communicating business related work to the clients and other audience. It will avoid the mistreatment of junior staffs and the coworkers at the workplace. By use of personal laptops and iPhones the employees will also disclose the irregularities that might be present at the organization to reach the top management for example if they are working in an unhealthy environment and under pressure (Cao, et al, p12, 2016). In conclusion, an effective communication exists at a company when both the top management and the junior staffs come into an agreement based on the business activities of the organization. Therefore, for regular interactions and clarifications of each employee social media can be used in disclosing each duty. The employees will get encouraged and have passion at the workplace through receiving regular updates and promotions at the company. References Bondarouk, T., Rul, H., Axinia, E. and Arama, R., 2014. What is the future of employer branding through social media? Results of the Delphi study into the perceptions of HR professionals and academics. In Social Media in Human Resources Management (pp. 23- 57). holar?hl=enas_sdt=0%2C5q=Bondarouk%2C+T.%2C+Rul%2C+H.%2C+Axinia%2C+E.+and+Arama%2C+R.%2C+2014.+What+is+the+future+of+employer+branding+through+social+media%3F+Results+of+the+Delphi+study+into+the+perceptions+of+HR+professionals+and+academics.+In+Social+Media+in+Human+Resources+Management+(pp.+23-%0957).+btnG= Cao, X., Guo, X., Vogel, D. and Zhang, X., 2016. Exploring the influence of social media on employee work performance. Internet Research, 26(2). Available at https://www.researchgate.net/profile/Xitong_Guo/publication/299421554_Exploring_the_influence_of_social_media_on_employee_work_performance/links/5739b9dc08aea45ee83f661e/Exploring-the-influence-of-social-media-on-employee-work-performance.pdf Dreher, S., 2014. Social media and the world of work: A strategic approach to employees participation in social media. Corporate Communications: An International Journal, 19(4). https://scholar.google.com/scholar?hl=enas_sdt=0%2C5q=Dreher%2C+S.%2C+2014.+Social+media+and+the+world+of+work%3A+A+strategic+approach+to+employees%E2%80%99+participation+in+social+media.+Corporate+Communications%3A+An+International+Journal%2C+%0919%284%29.btnG= Fuchs, C., 2017. Social media: A critical introduction. Sage. holar?hl=enas_sdt=0%2C5q=+Fuchs%2C+C.%2C+2017.+Social+media%3A+A+critical+introduction.+Sage.+btnG= Gritzalis, D., Stavrou, V., Kandias, M. and Stergiopoulos, G., 2014, March. Insider threat: enhancing BPM through social media. In New Technologies, Mobility and Security (NTMS), 2014 6th International Conference on (pp. 1-6). Available at https://www.infosec.aueb.gr/Publications/NTMS- 2014%20Insider%20Threat%20BPM.pdf Leftheriotis, I. and Giannakos, M.N., 2014. Using social media for work: Losing your time or improving your work? Computers in Human Behavior, 31. Available at https://users.ionio.gr/~mgiannak/CHB2013.pdf

Iran Revolution Essays - Iranian Revolution, Mohammad Reza Pahlavi

Iran Revolution Iran is a country located in the Middle East. The main source of income for the country is oil, the one object that had greatly influenced its history. Iran's present government is run as an Islamic Republic. A president, cabinet, judicial branch, and Majilesor or legislative branch, makes up the governmental positions. A revolution that overthrew the monarch, which was set in 1930, lasted over 15 years. Crane Brinton's book, An Anatomy of a Revolution, explains set of four steps a country experiences when a revolution occurs. Symptoms, rising fever, crisis, and convalescence are the steps that occur. The Iranian Revolution followed the four steps in Crane Brinton's theory, symptoms, rising fever, crisis, and convalescence occurred. Numerous symptoms led to the crumbling downfall of Reza Shah Pahlavi, ruler of Iran until 1978. One of these symptoms is rising expectations which can be seen during the 1960's and 70's. The rich Shah cleared the way for the land reform law, enacted in 1962. The land minority had to give up its land to the government, and among those stripped of land, were the Shi'ah Muslims. Iran's power structure was radically changed in a program termed the White Revolution. On January 26, 1963, the White Revolution was endorsed by the nation. By 1971, when land distribution ended, about 2,500,000 families of the farm population benefited from the reforms. From 1960-72 the percentage of owner occupied farmland in Iran rose from 26 to 78 percent. Per capita income rose from $176 in 1960 to $2,500 in 1978. From 1970-77 the gross national product was reported to increase to an annual rate of 7.8% (Iran 896). As a result of this thriving economy, the income gap rapidly widened. Exclusive homes, extravagant restaurants, and night clubs and streets loaded with expensive automobiles served as daily reminders of a growing income spread. This created a perfect environment for many conflicts to arise between the classes. Iran's elite class consisted of wealthy land owners, intelligencia, military leaders, politicians, and diplomats. The Elite continued to support the monarchy and the Shah. The peasants were victim of unfulfilled political expectations, surveillance by the secret police, and the severe social and economic problems that resulted from modernization. The middle class favored socialism over capitalism, because capitalism in their view supported the elite, and does not benefit the lower classes. The middle class was the most changeable element in the group, because they enjoyed some of the privileges of the elite, which they would like to protect. At the same time, they believed that they had been cheated by the elite out of their share of the industrialization wealth (Orwin 43). About this time, the middle class, which included students, technocrats, and modernist professionals, became discontent with the economy. The key event should have further stabilized the royal dictatorship, but the increase in oil prices and oil income beginning in 1974 caused extreme inflation. This was due to the investment strategy followed by the Shah, which led to a spectacular 42% growth rate in 1974. (Cottam 14). And because of the Shah's support structure which enabled the new rich to benefit from inflation, the government effort to deal with inflation was aimless. Poor Iranians and Iranians with a fixed income suffered major losses in real income. Better standards of living were no longer visible. Thus, the majority of the Iranian people developed a revolutionary predisposition. As the middle class became discontent in Iran throughout the 1970's, the desertion of intellectuals could be found in great excess. Ayatollah Ruhollah Khomeini represented much of the discontent of the religious sector of Iran. For speaking out against the Shah's autocratic rule, Khomeini was exiled to Turkey in 1963. In 1965, Khomeini moved to Iraq where he became the central spokesperson for expatriate opposition to the Shah. On October 6, 1978, Khomeini was expelled from Iraq and moved to Paris, where he was accessible to a larger body of opposition forces. He was also accessible to the Western Press. Khomeini preached that he would displace the Shah and expel the foreigners. He also said he would enforce religious and traditional values, and redirect Iran's wealth away from large industrialization schemes and toward reforms needed by the common people. Throughout the 1970's, Khomeini gained tremendous

Free Essays on Power Perspectives

Perspectives on Power In today’s society there are often power struggles about almost everything. As Max Weber points out, we perceive power as the ability to get your way, even over the resistance of others. Social power, political power, or economic power is all supremacy that people want to achieve; but who actually conquers these powers? Who determines such authority? There are three theoretical perspectives in sociology make general statements about how some parts of the world fit together. Sociology uses symbolic interactions, functional analysis, and conflict theory to analyze power relations in society, politics, or economics. Each theory interprets reality in a distinct and unique manner. Symbolic interactions focus on the level of analysis. It examines small -scale patterns of social interaction. It observes what people do when they are in the presence of others. â€Å"Symbolic interaction studies how people use symbols to establish meaning, develop their views of the world, and communicate with one another (Henslin 2002, p.14).† Symbols define for us what relationships are and allow society to exist. Using symbolic interaction one can analyze power relation by examining the status of a person. One who is rich and wealthy may be viewed as powerful because they have luxurious cars, houses and accessories. It can demonstrate the person’s achievements and success which lead them to prosper; therefore, attaining an authoritative position. They use status symbols to identify their power. Parents are symbols of power. They exercise the authority over their children. They have the power to discipline their children, choose schools, religion and mo rality. This is a type pf traditional authority which is based on custom (Henslin 2002, p. 275). The goals of people constantly change over time. People’s standards and symbols of success increase leading them to want more money. As meanings and interpretatio... Free Essays on Power Perspectives Free Essays on Power Perspectives Perspectives on Power In today’s society there are often power struggles about almost everything. As Max Weber points out, we perceive power as the ability to get your way, even over the resistance of others. Social power, political power, or economic power is all supremacy that people want to achieve; but who actually conquers these powers? Who determines such authority? There are three theoretical perspectives in sociology make general statements about how some parts of the world fit together. Sociology uses symbolic interactions, functional analysis, and conflict theory to analyze power relations in society, politics, or economics. Each theory interprets reality in a distinct and unique manner. Symbolic interactions focus on the level of analysis. It examines small -scale patterns of social interaction. It observes what people do when they are in the presence of others. â€Å"Symbolic interaction studies how people use symbols to establish meaning, develop their views of the world, and communicate with one another (Henslin 2002, p.14).† Symbols define for us what relationships are and allow society to exist. Using symbolic interaction one can analyze power relation by examining the status of a person. One who is rich and wealthy may be viewed as powerful because they have luxurious cars, houses and accessories. It can demonstrate the person’s achievements and success which lead them to prosper; therefore, attaining an authoritative position. They use status symbols to identify their power. Parents are symbols of power. They exercise the authority over their children. They have the power to discipline their children, choose schools, religion and mo rality. This is a type pf traditional authority which is based on custom (Henslin 2002, p. 275). The goals of people constantly change over time. People’s standards and symbols of success increase leading them to want more money. As meanings and interpretatio...

Environmental Justice Essay Example | Topics and Well Written Essays - 1250 words

Environmental Justice - Essay Example These stakeholders formed the EJ work group. The EJ desired outcome was the reclamation and reuse of the Airfield site at Metlakatla Peninsula and enhance more efficient use of resources in the community. This was achieved through the cleanup of the abandoned facilities, debris and contamination left by former airfield site. The EJ work group was concerned with the impact of the site on health, food supply, and the economy in general. The group was therefore concerned with the elimination of the contamination of the site through cleanup activities. To achieve the desired outcome, some factors were considered. First, consultations and outreach was carried out by the MOU workgroup in order to involve all members in cleanup partnership (U.S. Environmental Protection Agency 2003). Local MIC residents were also hired to conduct cleanup activities. Enhanced teamwork was also considered to achieve the success of the cleanup. One of the values considered in the cleanup was cooperation in the cleanup process. The MOU workgroup encouraged cooperation and effective coordination. Another value is health and food supply concern among community members. All members were determined to improve their health and food supply for the people. Another value that the team would have considered was philanthropy. This would allow the rich people within the group to offer their resources for the cleanup exercise. One of the obstacles of the partnership was lack of full coordination across the MOU work group members. They had inadequate funding, and the environmental policies varied. These issues affected the allocation of responsibility for cleanup process (U.S. Environmental Protection Agency 2003). It was also difficult to determine what constitutes a clean site. Another obstacle that can be predicted is the impact of natural disasters and weather changes. The stakeholders involved in this EJ partnership were the West Harlem

Why marijuana should be legalized Essay Example | Topics and Well Written Essays - 750 words

Why marijuana should be legalized - Essay Example Thesis: Marijuana is a drug; however this drug is similar to drugs that are already legal such as caffeine and tobacco. Many with health problems can benefit from the use of marijuana and marijuana is safer than most commonly prescribed drugs. The Legalization of Marijuana To much of the public, marijuana is known as a drug. To those who use marijuana, it is known as medicine. This medicine does many things and helps many. Marijuana is used to treat cancer symptoms and eating disorders, and that is just the start of the benefits marijuana has to offer. Overall, it is believed that a large amount of time and money is wasted by drug task force agencies in the aid to prevent the sale and use of marijuana. Legalizing marijuana would lessen the need to waste funding on these agencies. Marijuana is a drug; however this drug is similar to drugs that are already legal such as caffeine and tobacco. Many with health problems can benefit from the use of marijuana and marijuana is safer then mos t commonly prescribed drugs. To understand why some would like for marijuana to be legal, it is important to understand the history of marijuana. Marijuana is an all natural plant that grows naturally. Marijuana in its natural form is said to date back to 2737 B.C. Throughout history marijuana was used to create a euphoria effect. In 1942, marijuana was listed by pharmaceutical companies and used to treat many different disorders. Not soon after the drug was used for common medical problems was it then labeled in the same drug class as heroin. The government then banned marijuana claiming it was a â€Å"gateway† drug. Marijuana was at one point legal, just like many other commonly known drugs. Since marijuana is used for medicinal purposes, it needs to be treated like other prescription drugs. This means, keeping it in a safe area, and only using when prescribed. Those who have abused the drug and shared with teenagers could have contributed to harsh government regulation whi ch caused the ban of marijuana in the first place. It is important to be smart with any and all prescription drugs. This is why with the correct amount of education, marijuana should again become legal and used for its created purposes. There is so much money spent by American, Mexican, Canadian and other authorities to try and prevent the growing, use and distribution of marijuana. The amount of money spent by America alone is billions each year. For a government trying to make budget cuts, legalizing marijuana would free up a large amount of money that could be used to get America out of debt. This billions of dollars doesn’t even cover the cost of inmate housing. Since distribution, possession and use of marijuana is punishable by jail, many are sent to prison because marijuana is illegal. Punishing those who use marijuana only creates more spending to house inmates and contributes to prison overcrowding. Eating disorders and cancers are another common problem that marijua na helps with. Those who suffer from bulimia, anorexia, and lack of appetite from chemotherapy, benefit from using marijuana. Marijuana allows the brain to tell the body that it is hungry and may be the only thing that works to help those who normally would not be able to eat. Legalizing the use of marijuana for these disorders improves the quality of life and betters the chance of survival for the ones battling the disorders. Marijuana creates euphoric effects. These euphoric affects help many concentrate. Those who struggle with ADHD, ADD and who are generally excitable can use marijuana to relax and better focus. This is much safer to use then commonly prescribed medicines such as Aderal, Ridalin and anti anxiety medications. Many commonly use medicines used to help people concentrate have caused heart attack and

The Las Vegas Hotel And Casino Industry Tourism Essay

The Las Vegas Hotel And Casino Industry Tourism Essay Commercial Casino Industry has been occurring in United States over 75 years since Nevada legalizing it. When Chef Wolfgang initiated to out fine dining restaurant in commercial casino, this is the beginning of food and beverage revolution in industry in 1992. In 1995, American Gaming Association was created. MGM Mirage acquired Mandalay Resort Group, Harrahs Entertainment Inc. and Caesar Entertainment in 2005 and the commercial casino industry started booming and other states started legalize opening casinos since then. The international gaming industry is expanding. Many U.S. casino companies expanded or planned to expand to other countries such as Macao, Korea, Taiwan and Singapore. The international casino industry tends to have rapidly growth as gross gaming revenue in Macao has been more than gross gaming revenue in Las Vegas strip since 2006. Know your enemy and know yourself, and in a hundred battles you will never be defeated. (Sun Tzus The Art of War Writings). This Chinese wisdom of warfare probably helps companies deploy a better strategy in many business situations. The MGM Mirage Inc. is the largest company in the Hotel and Casio industry by revenue in the U.S., but MGM financial statement showed that company bottom-line in debt. The company was facing bankruptcy code in the early 2010. In this project, the report had been organized and presented MGM Mirage Inc. or MGM Resorts International in 4W framework: (1) Who are we? (Company profile, Hotel and Casino industry profile), (2) Where are we? (Sophisticated tools in Management, Technology, Marketing, Financial and Accounting were used to analyze the company position with competitor in the industry.), (3)What are problems? (SWOT analysis) and (4) What are solutions? Who are we? : Know yourself MGM History The Beginning of Las Vegas Race: 2005: MGM Merged Mandalay Bay Group. MGM Profile in 2009 Organization Structure Company Strategy The MGM Mirage Inc. strategy is to generate sustainable, profitable growth by creating and maintaining competitive advantages and through the execution of our business plan, which is focused on: Owning, developing, operating and strategically investing in a strong portfolio of resorts; Operating our resorts in a manner that emphasizes the delivery of excellent customer service with the goal of maximizing revenue and profit; and Leveraging our strong brands and taking advantage of significant management experience and expertise. (Source: MGM Mirage 2010 Form 10-K) Current Operation As of 2009, the MGM Mirage reported that the company has completed control of 14 casino resorts and hold 50% of investment in 5 casino resorts. In addition, the MGM Mirage also owned 3 golf courses in Las Vegas, Mississippi and California.(Source: MGM Mirage 2010 Form 10-K) Casio Resort ( Completely owned) Nevada MGM Grand Las Vegas Mandalay Bay The Mirage Excalibur Monte Carlo Railroad Pass, Henderson Gold Strike, Jean Luxor Bellagio New York New York Circus Circus Las Vegas Other MGM Grand Detroit Beau Rivage , Biloxi, Mississippi Gold Strike Tunica ,Mississippi Casio Resort ( hold 50% in stock) Nevada City Center (Joint Venture with Dubai World) Circus Circus Reno Siler Legacy Other Borgata, Atlantic City, NJ Gran Victoia , Elgin, IL MGM Grand Macau, China Industry Analysis Industry Analysis process is an essential assessment tools for every company to deeply understand industry current trends and opportunities. In fact, company will gain a better position and achieve a competitive advantage when it truly understanding marketplace. In the complex marketplace, the U.S. government is categorized industry with 4-digits Standard Industrial Classification (SIC) system. In addition to SIC, the North American Industry Classification System (NAICS) is a new standard for the industry. The NAICS with 6-digits code contains more details than the SIC system. The purpose of SIC and NAICS are economy analysis. The MGM Mirage Inc. has been classified with SIC into three major categories: Hotels and Motels (SIC 7011), Coin-Operated Amusement Devices (SIC 7993) and Amusement and Recreation Services, Not Elsewhere Classified (SIC 7999). In addition, the MGM Mirage inc. also has been classified with NAICS into two categories: All Other Amusement and Recreation Industries and Hotels (except Casino Hotels) (713990) and Motels (721110). To thoroughly understand MGM Mirage Inc. marketplace, the hotel industry and casino industry had been analyzed. Hotels and Motels Industry (SIC 7011) The U.S. government defined a company in Hotels and Motels Industry as Commercial establishments, known to the public as hotels, motor hotels, motels, or tourist courts, primarily engaged in providing lodging, or lodging and meals, for the general public. Hotels which are operated by membership organizations and open to the general public are included in this industry. Hotels operated by organizations for their members only are classified in Industry 7041. Apartment hotels are classified in Real Estate, Industry 6513; rooming and boarding houses are classified in Industry 7021; and sporting and recreational camps are classified in Industry 7032. Recession impacts hotel industry In May 2010, Standard Poors industry report stated the hotel industry is still in an unstable condition. The industry will require a longer period to recover from the 2008 recession. Currently, the industry is operating in a difficult situation. The hotel industry is facing drastic competition that forces hotel businesses to lower room rates, which in turn results in lower profit. Figure 1: Hotel Industry Fact Sheet 2001 Forecast 2011 The data from Smith Travel Research (STR) Inc. indicated that on average the hotel industry has lost its Revenue Per Available Room (RevPAR) since 2008. The 2008 recession has also brought the hotel occupancy rate down from 60% to 55%. In addition, average daily roommate also dropped significantly 8.8% in 2009. Moreover, room demand dropped 6% in 2009. In contrast, the supply of rooms rose 3.2% in 2009 (refer to figure1). While the U.S. government is making their way out from 2008 recession, SPs forecasted that the hotel industry will not return to the same pre-recession level for the next eight to ten years. Figure 2: Percent Change in Room Supply and Demand in the U.S. from 1989 April 2009 Real GDP helps the hotel industry in predicting room demand In the hotel industry, a high accuracy in room demand elasticity estimation provides CEO with essential information for a long term planning and deploying strategies. In 2009, the research by Dr. Hanson from Global Hospitality Group Hospitality Lawyers shows approximately a 1-to-1 relationship that holds between the U.S. Real GDP and room demand until the 2001 economic crisis. The real Gross Domestic Product (GDP) is the total output of goods and services produced in a country and adjusted for priced change. The demand is more elastic when the greater the proportion of income spent on the good. After the 2001 recession, the demand retract and continue to grow in a slower pace when compare with the real GDP. The GDP is increasing 4 times faster than the room demand does. The 5 factors that researcher believes that might have an influence GDP and room demand relationship are: Long-term deterioration in consumer confidence, Higher consumer saving rate, consumers trying to recover lost investment, new pattern of behavior and proposed levels of tax increase affecting disposable income. Moreover, in the 2008 recession, the researcher also believes that the recession might create an additional snap back for room demand. Figure 3: The relationship between GDP and Room Demand U.S. Business and group travel The hotel industry profitability can be influenced by a demand from business travel. According to a member survey, the Association of Corporate Travel Executives (ACTE) reports hotel expense represents, on average, 40% of all business travel expense. In addition, American Express stated that airfare will increase from 2% to 10% in 2011, and hotel rates will increase 1% to 10% (Paurowski, 2010). The survey also indicated that 35% of its member strongly considered optimizing hotel expense in 2011 and 50% of its member expressed concern regard increasing in expenses. Passenger Name Record (PNR) in Computer Reservation System (CRS) showed that cooperate travelers have shifted booking methods from Travel Management Companies (TMCs) to Online Travel Agency (OTA). In fact, 30% of its members stated that online hotel rates offered are lower than negotiated rates. The complementary items that are preferred by the majority corporate travelers are: complementary cocktails, free WiFi-internet ac cess and comfort. In conclusion, the demand for business and group travel will likely be for cheaper rooms at lower rates with free complementary. (Michael Boult, 2010). Domestic and international travelers Shifts in airline schedules and passenger booking have a direct impact on hotel occupancy. According to the data from Air Transport Association (ATA) 2010 annual report, the static in figure 3 shows that domestic capacity had a declining trend since 2000, and the data also showed that passenger enplaned has dropped significantly from 743 million passengers in 2008 to 703 million in 2009 reflecting a 5.3% decrease of airline industry capacity. In fact, profit margin in the airline industry has been on the negative side. Airliners cut back routes and canceled destinations. For international travelers, The U.S. Department of Commerce (DOC) and Office of Travel and Tourism Industries (OTTI) expect the industry growth in 2010 and gradual increase to approximately 6-9% through 2015. Five countries, excluding Canada and Mexico, that rank highest in number of visitors to the U.S. in 2010 by volume are: China (40%), Brazil (35%), Korea (35%), Hong Kong (27%), New Zealand (24%) and Australia (19%). A weakening in U.S. currency helps the hotel industry by stimulating the demand from international travelers. Figure 3: Domestic Demand Trend, Profitability among Airline, Passenger Yield Trend Medical tourism -a little hope for the hotel industry In the economic downturn, hotel industry needs a stimulant plan to boot-up its occupancy rate. In 2009, Reuters Health section provided some interesting facts about medical tourism in the U.S. The report indicated that U.S. health providers have lost 650,000 patients to hospital oversea such as Thailand, India, and Singapore. In addition, the health providers are predicted to lose as much as $67.7 billion in revenue in 2010. Oscar Goodman, Mayor of Las Vegas, foresee the opportunity for the hotel industry in Las Vegas. Mayor encourages a local business to support the idea of medial tourism. The medical tourism will be an alternative business in the area, the national public radio reported. Casio Industry Casinos are the largest revenue generator in the gambling industry. The industry provided approximately 350,000 jobs in the U.S. market. The American Gaming Association and the National Indian Gaming Association (NIGA) are the main organizations in the U.S. casino industry. The AGA encourages its members and their employee to be aligned with updated law and regulations. Moreover, AGA is a realizable source for a gaming industry providing gaming history, educational program, and statistic data on the Casino industry. In addition, the NIGA under the Indian Gaming Regulatory Act has provided Native Americans opportunities to legally run casinos. U.S. casino trends The casino industry has been hard-hit by the recession. According to the United States department of labor, the Mass Layoff statistics (MLS) program showed that the hotel-casino industry eliminated 13,000 jobs in 2008 (Labor, 2010). The revenue trend in the casino industry has been on a downturn for the last two consecutive years. The SP expected a slow recovery from the casino industry. Las Vegas, Nevada As of 2009, the American Gaming Association reported that Las Vegas with $5.55 billion in revenue was a dominant U.S. market. According to Las Vegas Convention and Visitors Authority (LVCVA), the statistic in figure 5 showed a 2.4% increase in the number of visitors from 2009. The Las Vegas Strip gaming revenue was increased by 4.3%, but the downtown area gaming revenue was decreased by -7.3% from 2009. In 2009, the 14% unemployment rate in the state Nevada plummeted the economic trail. On a carryover impact from the economic crisis in 2008, the number of attendees at conventions, and a number of scheduled conventions and number of meetings held remained on the decline with decreases of -1.1% and -6.7% respectively. According to the Las Vegas Visitor Profile, Market Segment reported by LVCVA (2009) that 76% of Casino guests were most likely to be traveling in a party of two and average stay in Las Vegas is 4 nights. Casino guests on LVCVA survey stated that 87% of visitors called the hotel-casino directly to book their accommodation. In 2010, SPs industry report estimated casino revenue on the Strip to be 35%-45% of total revenues, and the revenue from hotel rooms was 20-30% of the total revenue. A total enplaned and deplaned air passenger continued to decline. The number of air travelers accounts for 42% of all visitors. (LVCVA visitor profile: ir visitor version). The SPs report indicated strong growth from Las Vegas. Figure 4: U.S. Casino Industry Gaming Revenue Figure 5: Las Vegas Convention and Visitor Authority (LVCVA) : Executive Summary Atlantic City, New Jersey The Atlantic City is a second large of the U.S. casino marketplace. The static in figure 4 shows that casinos in the area have been losing revenue -5.7%, -7.6% and 13.2% in three consecutive years. According to SP, casinos in Atlantic City are facing heavily competition from New York and Pennsylvania. Macau, China: New Era of Asia Gold rush Macau is a special administrative region of China. The CIA The World Factbook reported that, in 2006, Macaus gaming revenue surpassed that of the Las Vegas strip, and gaming-related taxes accounted for more than 70% of total government revenue. The Macau market attracted many casino operators from Las Vegas to come and establish a new home-based outside the U.S. In 2010, the profit in Macau market increased 9.7% in revenue from its loss in 2009. The gaming industry in Macau was expected to rise, but, SP reported a concern about the room surplus of 40% in 2011 and 2012. In the long-term, SP still believes that the Macau gaming industry will generate a significant profit for China. Singapore: A hidden dragon Singapore is the one of the most strategic locations in South-East Asia. According to Economy Watch and World Bank, Singapore is considered to be a very attractive country for new business. Sources in the Wall Street Journal on October 7, 2010 reported that the Marina Bay Sands project is a 8-billion dollar casino in Singapore, known to be the cleanest city in the world. The casino includes three 50-story structure with approximately 2,500 rooms; a casino, retail stores, dining and 800,000 square feet entertainment complex. The SP 2010 industry report predicted that the top five markets for Singapore casinos are: Indonesia, China, Australia, India and Malaysia. In addition, the Marina Bay Sands should have no effect on Macau market because the hotel presents a more family-orientated appeal. Legal and Regulation Internet/Online gambling Online gambling is illegal in the U.S. as of November, 2010. Internet Gambling Regulation, Consumer Protection, and Enforcement Act (H.R. 2266)  was introduced to congress in May 2009 by Frank, Barney  (Rep). The bill is aimed to Unlawful Internet Gambling Enforcement Act of 2006, which prohibits internet gambling operators from receiving money related to any online gambling that violates State or Federal law (Frank, 2010). Online gambling is also on a serious debate among AGA members regarding a safety and government regulation. The concerns regarding an online gambling are a security technology such as firewall to protect million online users. Summary Key Fact from Industry Analysis Room demand dropped because economic recession. Occupancy rate dropped because dropped in demand and increasing room surplus. Real GDP could be used as atool for the hotel industry to future demand. Business Travel booking trends changed from Travel agency to online travel agency. China is a number one inbound visitor by volume from oversea. Medical tourism could be an alternative route for simulating demand. Gaming on Las Vegas Strip continues generating profit. Atlantic City market for casino is not pleasant after loss in profit of 3 consecutive years. Macau is growing and generated more revenue than Las Vegas Strip. Singapore could be a new growing casino market in South-East Asia. Legalize an online gambling is an ongoing process. Casino Market: Oligopoly Market Competition In 2009, the casinos industry had revenue in total of $US 21.8 billion. To determine an economic competitive type of market in the industry, the company uses a four-firm concentration ratio as the indicator. The ratio is the percentage of total industry sales made by the four largest firms (Fig. 4). The four-firm ratio for the casinos industry is approximately 70%, which had created an oligopoly form of market competition. In oligopoly, one firm decision can have a direct influence on demand, price, and profit of competitor in the industry. Figure 5: Companies in the casino industry by revenue Furthermore, external assessment of the industry is a critical process for management in decision making. The Porters Five-Forces Model, competitive analysis tool, has been utilized for in-depth industry analysis. The model analysis is provided five perspectives in assessing the industry: Rivalry among competing firms, Potential entry of new competitor, Potential development of substitute products, Bargaining power of suppliers, and Bargaining power of consumers. Porters Five-Forces Model Analysis Rivalry among existing competitors: MGM : Rivalry among existing competitors : HIGH Same-size competitors High exit barrier Indifferent in product and service among competitors Table x: Threat of existing competitors The competitive atmosphere in hotel industry is high.   There are a lot of competitors in industry.   Furthermore, it seems that competitors compete in same dimension because in commercial casino industry, customers are not much diverse. Therefore, players in this industry found it hard to target different customers with different needs   Ã‚  Ã‚  Ã‚  Ã‚   There are a lot of competitors with equal power and size.   Ã‚  Ã‚  Ã‚  Ã‚   Exit barrier in commercial casino industry is high because a company invests huge amount of money, especially, building cost. Even a company wants to exit from the industry, sometimes it force to stay in because exit costs are high.   Ã‚  Ã‚  Ã‚  Ã‚   Product and service in commercial casino industry are identical. Moreover, there is no switching cost for buyers. Thus, competitor might cut price to attract buyers.   Ã‚  Ã‚  Ã‚  Ã‚   Fixed costs are high. In order to compete in hotel industry, a casino manager adopts revenue management. The process allows buyers to stay in same type of room in different price. Even a hotels products and service are not rapidly become outdated but competitive atmosphere in commercial casino industry is hot, therefore, companies cannot make high profit from this industry. Threat of new entrants: The threat of new entrants for hotel and motels industry is low. The industry has significant barriers to entry which include: MGM : Threat of new entrants : LOW Supply-side economies of scale Demand-side benefits of scale Customers switching costs Capital requirements Restrictive government policy Position advantages independent of size Unequal access to distribution channels Table x: Threat of new entrants Supply-side economies of scale:   In commercial casino industry these economies hardly appear. Even a company built more rooms or more recreations in its casino, these economies will not appear. Moreover, the company has to carry more cost, more maintenance cost and more employees cost. Demand-side benefits of scale (network effects): These benefits occur when the numbers of buyer patronize the company. However, these benefits might not occur in commercial casino industry. In commercial casino industry, a company will find advantages in location, facilities and characteristics of personal working in direct contract with customers. Therefore, having a lot of customers patronize a company will not provide huge demand-side benefits of scale. Customers switching costs: In commercial casino industry, when customers purchase service from a casino, it is one time use. Therefore, there is no switching cost. Capital requirements: In order to enter commercial casino industry, a company needs to finance huge budget and the industry return is not attractive. Thus this industry has high barrier. Position advantages independent of size: These advantages are not depends on a companys size, incumbents can have competitive advantages that not available to competitors. These advantages in commercial casino industry can stem from locations, brand identities and service. Unequal access to distribution channels: It is not hard to establish or find distribution channels in commercial casino industry. A company could use agents or let customer books rooms via its websites. Restrictive government policy: There might be some restriction related to commercial industry such in some area government do not allow a company to build a building that higher than 2 floors or in some countries, a company has to has citizens hold more than half of a companys shares to operate in that country. In U.S., commercial casino industry is the most regulated and monitored industry. The threat of substitutes: MGM : Threat of substitutes : HIGH Competitor Table x: Threat of substitutes There are some substitutes for commercial casino such as hostels, apartments or houses. Customers can stay in hostel, apartment or houses and go to gaming or using recreation facilities at casinos. If buyers concern convenience, they might prefer casino. Because they will have maids clean their room and casinos always locate in a convenience location. If buyers concerns price, they might stay in hostel. However, if buyers concern privacy, they might prefer house.   Ã‚  Ã‚  Ã‚  Ã‚   There is no cost of switching to substitute. Buyers can change to substitutes anytime if they would like. Hostels, apartments and house can be substitutes for casinos. They perform similar products and service to casinos, if you concern only hospitality part. However, there are some differences which made substitutes have huge different from hotels. Buyers have to determine trade-off between hotels and substitutes. In this industry, the threat of substitutes is not high because substitutes have too many differences in facilities and service from casinos. Thus, industrys profitability is not suffered from substitutes. The power of suppliers: If suppliers have power over a company, suppliers might set its price higher, limit quality of service and shift its cost to other parties. In commercial casino industry, a company uses wide range of different suppliers such as supplier for construction, supplier for food and beverages and supplier for hotel equipment. There is almost no monopoly in hotel suppliers. Moreover, only a few supplies that have switching cost such as securities equipment and suppliers did not differentiate their products. The company has to differentiate itself by choosing good location, providing well-maintenance facilities and providing supreme service. Furthermore, the company can easily find substitute suppliers. Therefore, the power of suppliers in commercial casino industry is low. The power of buyers: MGM : The Power of Buyer : Table x: The power of buyer   Ã‚  Ã‚  Ã‚  Ã‚   There are various customers in commercial casino industry. However, there are some buyers that have ability to negotiate such as group tour.   Ã‚  Ã‚  Ã‚  Ã‚   Products and service in commercial casino industry are not much different. If customers find that a hotel that they always stay in is full, they have to stay in other hotel. They have to purchase products and service in some hotel anyway.   Ã‚  Ã‚  Ã‚  Ã‚   Buyers have no switch cost. If buyers want to change from a hotel to a hotel, they can just check-in to another hotel without any switching cost.   Ã‚  Ã‚  Ã‚  Ã‚   Buyers cannot produce industrys product if buyers found that a hotel is too profitable. Buyers can switch to other hotels but they cannot produce it by their selves.   Ã‚  Ã‚  Ã‚  Ã‚   In commercial casino industry, buyers do not stick with brands. Buyers might concerns about quality of product and service. If they find another casino that cheaper but quality and facility are same, they will switch to another casino. In sum, in commercial casino industry, buyers are relatively price sensitive. From analysis given above, buyers in commercial casino industry have high power and seem to be price sensitive. They can press companies to lower their price and can ask for more quality and service. Financial and Accounting Analysis The financial information was published annually to external and internal users. MGM Mirage Inc. financial statements had been analyzed using financial ratio analysis and information in management discussion. The median number of industry ratio in 2009 is used in this report. By the nature of hotel business, MGM contains a high fix-cost in normal business operation and profits are driven by tourism and business travel demand. MGM requires a large capital to run its hotels and casinos. In 2010, MGM is in process of development a City Center, a capital intensive driven project. The delayed of City Center project has enormous impact on MGM financial statement. Liquidity and Financial Position Liquidity Ratios Industry 2009 2008 2007 2006 2005 Current Ratio 1.1 1.28 0.51 0.68 0.92 0.66 Quick Ratio 0.8 1.02 0.2 0.48 0.5 0.48 Credit Risk: Facing Bankruptcy As of December 31, 2009, MGM is in a weak financial position because of its indebtedness. MGM with credit rating of CCC+ operated the business with 39% on the long-term debt. The management team declared unpleasant statement about the $1.1 billion senior credit facility debt which might be defaulted on maturity date in 2010. The management suggests that MGM must extent the payback period by negotiating with their creditors. Also, management has predicted that future revenue from operation and tax refunds would help reducing MGM debt. The current and quick ratio indicated that MGM has had insufficient fund to operate its casino since 2005. With the ratio less than 1 and below the industry average in both current ratio and quick ratio, MGM has been operated on the line of bankruptcy if the company defaults on its debt. Revenue base and mix MGM primary source of revenue came from Las Vegas Strip. As December 31, 2009, the majority of MGM revenue came from three sources: casino (44%), hotel room (23%), and food beverage (23%). Casino revenue dropped 12% from 2008 and it had been on decline trends since 2007. In 2009 MGM financial statement, revenue from casino had been divided into three sub-categories: Table games (36% of total casino revenue), Slots (60% of total casino revenue), and Other revenue. The table game revenue decreased 11%, even though there is 33% increases in demand for baccarat. Sustainability of revenues and earning As of December 2009, MGM **Reasonable Analysis *focus on MDA *Risk and Factor * Note Analyzing financial statement Accounting item to review Cash Flow Profitability ratios MGM profitability ratios are negative in 2010 and 2009 for some ratios. ROA in both 2009 and 2010 are negative. We can break ROA to net profit margin multiply total assets turnover to deepen our analyzing.   Assets turnover ratio shows MGMs ability to use assets generate revenues. MGMs assets turnover ratio decreases from 2007 to 2009. Even this ratio does not decrease much during 3 year period, it made ROA go down. The main factor that has impact on ROA is net profit margin. The MGM has very low net profit margin since 2008. MGMs bad signal shows since 2008. After its net profit margin ratio plunge to -11.86% in 2008 and -21.61% in 2009 which a major factor lowing ROA. From analyzing ROA, we can see that MGM has a problem with maintaining its profit margin. MGMs revenues in 2008 are not much different from 2007, however, MGM cannot control operating expenses, operating expenses in 2007 exceeds revenues. In 2009 MGM revenues decreases by 17%, further, MGMs ability to control its op erating expense decreased. MGMs operating expenses in 2009 is 114.65% from revenues. The major increase in operating expenses in 2008 and 2009 is property transactions. MGMs ability to fulfill its short term obligation is getting better in 2009. Both quick and current ratios go up. The reason both quick and current ratios increase because in 2009 MGM carries more cash. However, MGM debt management ratios worsen. Long term debt to equity ratio increases from 2007 to 2009 results increase in total debt to equity ratio. These ratio shows MGM has larger portion of debt compare to equity. Even MGM carries more long term debt recently; MGM has interest coverage ratio high enough to pay back its interest. But this ratio trend increase in recent year. Hotel operating statistics Asset values Balance sheet ratios Book Value Off-balance-sheet commitments or liabilities Valuation measures Leverage ratios Debt Management 2009 2008 2007 2006 2005 LT Debt to Equity 3.35 3.12 1.84 3.38 3.82 Industry Ratio Total Debt to Equity 3.63 3.39 1.84 3.38 3.82 Industry Ratio Interest Coverage 1.66 2.06 1.95 1.93 Industry Ratio Activity ratios Asset Management 2009 2008 2007 2006