Stem Cell Research Legislation Paper Example | Topics and Well Written Essays - 1500 words - 2

Stem Cell Legislation - Research Paper Example This paper shall discuss the history of stem cell research legislation in the United States. It shall discuss how such history compares with similar statutes around the world. The current legislative state of affairs shall also be considered, as well as the possible direction of the laws in the United States should be taken. Various studies and literature shall be considered to establish a clear and comprehensive understanding of the subject matter. Discussion What is the history of Stem Cell Research Legislation in the United States? According to Deem (2004), stem cell research on humans was first seen in the 1960s, with some success achieved in the treatment of a patient with severe combined immunodeficiency disorder. Following this success, efforts to achieve a similar success was attempted in the treatment of immunodeficiency disorders and different types of leukemia and blood disorders (Deem, 2004). Based on the success achieved for the abovementioned diseases, many people have expressed their support for the necessity of stem cell research. ... He claimed that carrying out such type of research is a threat to the unborn human life, and the government must therefore not support such procedures. The 109th and 110th Congress implemented bills which were set to overturn Bush’s position, however Bush vetoed both bills (Science Progress, 2009). In the 109th Congress, both houses approved the bill (subsequently signed by Bush) which prevented the creation of human fetuses which had the sole purpose of destroying them, as well as harvesting their body parts (Cord Bankings, 2010). A bill was also passed in order to support research into the creation of stem cell lines without damaging embryos (CBS, 2009). In 2005, the US Congress set forth the passage of the Stem Cell Research and Therapeutic Act of 2005. This was a national law which established new public banking and research facilities; this law was also set to encourage medical practitioners in increasing awareness of cord blood donations to pregnant women (Cord Blood Ban king, 2010). President Barack Obama in 2009, ended the ban on allowing federal taxpayer dollars to fund significantly broader research on embryonic stem cells. Obama’s decision provides support for research on healthier and better ways to create treatment for diseases (CBS, 2009). How does it compare to comparable statutes in the rest of the world? The controversy regarding the passage of stem cell laws around the world are more or less similar various territories. Most of these laws and countries with stem cell research laws seem to agree on the significant difference that the research can bring to various sick individuals. In Africa, there are few laws which regulate embryonic stem cell research and the only country which actually has a significant research

Fonterra Tirau Essay Example | Topics and Well Written Essays - 2000 words

Fonterra Tirau - Essay Example The product made at this facility amounts to thousands of tons annually that feed both the foreign and the domestic markets. As the result of an upgrade in 1981, the true site operated by Fonterra is the only one that produces lactalbumin whose tonnage is 1400 annually and is an essential ingredient in nutritional applications. During the high season between August and December of each year, the true site usually processes almost 2.9 million liters on a daily basis, which is collected from the dairy farmers who are also shareholders in Fonterra. The other product manufactured at the Tirau site is lactic casein that totals 7000 tons annually, whose main export market is China, USA, most European states, and Japan (Fonterra, 2014). Fonterra is one of the companies that has attracted the interest of environmentalists and government agencies charged with protecting the environment. This is not surprising since (â€Å"Water Quality in New Zealand† 2012) states milk processing plants are the major environmental pollutants in New Zealand, and this includes Fonterra’s sites. Tirau being a principle road town in the Waikato region has experienced an increase in commercial and agricultural activities over the years that have caused a major impact on the environment especially on the water resources. Subsequently, the water pH and levels of conductivity in Waikato region have been deteriorating gradually with the Waikato River experiencing high levels of pollution. According to environmental impact assessment reports, a majority of the industries that cause pollution is dairy farming and product plants together with the use of high nitrogen fertilizers that have made the water pH levels in these regions to deteriorate. Fonterra Tirau understands that the industrial activities conducted at this plant is one of the key contributors to the environmental degradation of the Waikato region and has put in place

Ethics studies Essay Example | Topics and Well Written Essays - 1250 words

Ethics studies - Essay Example These factors could include cultures, him-self or values. The poem written by David brings out an immense debate about the colours of individuals and the marriage between races and the influences that this has on their identities. This paper analyzes the subject of identity and self-hate. More so, it discusses the popular and the cultural traditional beliefs as to why people tend to get involved in interracial relationships. Marriages between races have been affected by attractiveness, acculturation and propinquity. Several researches have come up with the conclusion that propinquity tent to be the strongest predator in determining whether or not people can engage in interracial marriages. Assimilation and acculturation have been shown to be related to several incidents of interracial relationships in a positive way. It is believed that when it is removed from the demands of the intra-ethnic relationships that are opposed by most communities and families, there is the possibility for the exploration of the interracial relationships with different ethnic and racial backgrounds. These are the main factors for most ethnic and racial groups. In this paper, it discusses the relationships or rather the beliefs that exists behind the interracial marriages/relationships betw een the â€Å"Black community† and the â€Å"White† community in the United State since independence (Hearn, 1998). When talking of interracial relationships, there exist two beliefs that are associated that decision. The beliefs are traditional and popular cultural beliefs. There is a belief that when men from a different colour to that of the women will only marry from a different race if they are in need of escaping from their value, culture and/or themselves. This regards to the traditional beliefs. These beliefs explain that men who marry from a different race or a different ethnic community are

New Paradigms in the Study of the Civil War Essay Example for Free

New Paradigms in the Study of the Civil War Essay A civil war is a war between organized groups within the same nation state or republic, or, less commonly, between two countries created from a formerly united nation state. The aim of one side may be to take control of the country or a region, to achieve independence for a region, or to change government policies. Civil wars since the end of World War II have lasted on average just over four years, a dramatic rise from the one-and-a-half year average of the 1900-1944 period. While the rate of emergence of new civil wars has been relatively steady since the mid-19th century, the increasing length of those wars resulted in increasing numbers of wars ongoing at any one time. For example, there were no more than five civil wars underway simultaneously in the first half of the 20th century, while over 20 concurrent civil wars were occurring at the end of the Cold War, before a significant decrease as conflicts strongly associated with the superpower rivalry came to an end. Since 1945, civil wars have resulted in the deaths of over 25 million people, as well as the forced displacement of millions more. Civil wars have further resulted in economic collapse; Somalia, Burma, Uganda and Angola are examples of nations that were considered to have promising futures before being engulfed in civil wars. Formal classification James Fearon, a scholar of civil wars at Stanford University, defines a civil war as a violent conflict within a country fought by organized groups that aim to take power at the center or in a region, or to change government policies. The Correlates of War, a dataset widely used by scholars of conflict, classifies civil wars as having over 1000 war-related casualties per year of conflict. This rate is a small fraction of the millions killed in the Second Sudanese Civil War and Cambodian Civil War, for example, but excludes several highly publicized conflicts, such as The Troubles of Northern Ireland and the struggle of the African National Congress in Apartheid-era South Africa. That the Party in revolt against the de jure Government possesses an organized military force, an authority responsible for its acts, acting within a determinate territory and having the means of respecting and ensuring respect for the Convention. That the legal Government is obliged to have recourse to the regular military forces against insurgents organized as military and in possession of a part of the national territory. That the de jure Government has recognized the insurgents as belligerents; or That it has claimed for itself the rights of a belligerent; or That it has accorded the insurgents recognition as belligerents for the purposes only of the present Convention; or That the dispute has been admitted to the agenda of the Security Council or the General Assembly of the United Nations as being a threat to international peace, a breach of the peace, or an act of aggression. That the insurgents have an organization purporting to have the characteristics of a State. That the insurgent civil authority exercises de facto authority over the population within a determinate portion of the national territory. That the armed forces act under the direction of an organized authority and are prepared to observe the ordinary laws of war. That the insurgent civil authority agrees to be bound by the provisions of the Convention. Causes of civil war in the Collier-Hoeffler Model Scholars investigating the cause of civil war are attracted by two opposing theories, greed versus grievance. Roughly stated: are conflicts caused by who people are, whether that be defined in terms of ethnicity, religion or other social affiliation, or do conflicts begin because it is in the economic best interests of individuals and groups to start them? Scholarly analysis supports the conclusion that economic and structural factors are more important than those of identity in predicting occurrences of civil war. A comprehensive studies of civil war was carried out by a team from the World Bank in the early 21st century. The study framework, which came to be called the Collier-Hoeffler Model, examined 78 five-year increments when civil war occurred from 1960 to 1999, as well as 1,167 five-year increments of no civil war for comparison, and subjected the data set to regression analysis to see the effect of various factors. The factors that were shown to have a statistically significant effect on the chance that a civil war would occur in any given five-year period were: Availability of finance A high proportion of primary commodities in national exports significantly increases the risk of a conflict. A country at peak danger, with commodities comprising 32% of gross domestic product, has a 22% risk of falling into civil war in a given five-year period, while a country with no primary commodity exports has a 1% risk. When disaggregated, only petroleum and non-petroleum groupings showed different results: a country with relatively low levels of dependence on petroleum exports is at slightly less risk, while a high-level of dependence on oil as an export results in slightly more risk of a civil war than national dependence on another primary commodity. The authors of the study interpreted this as being the result of the ease by which primary commodities may be extorted or captured compared to other forms of wealth, for example, it is easy to capture and control the output of a gold mine or oil field compared to a sector of garment manufacturing or hospitality services. A second source of finance is national diasporas, which can fund rebellions and insurgencies from abroad. The study found that statistically switching the size of a countrys diaspora from the smallest found in the study to the largest resulted in a sixfold increase in the chance of a civil war. Low per capita income has been proposed as a cause for grievance, prompting armed rebellion. However, for this to be true, one would expect economic inequality to also be a significant factor in rebellions, which it is not. The study therefore concluded that the economic model of opportunity cost better explained the findings. Population size The various factors contributing to the risk of civil war rise increase with population size. The risk of a civil war rises approximately proportionately with the size of a countrys population. Gleditsch et al. did not find a relationship between ethnic groups with polygyny and increased frequency of civil wars but nations having legal polygamy may have more civil wars. They argued that misogyny is a better explanation than polygyny. They found that increased womens rights were are associated with less civil wars and that legal polygamy had no effect after women’s rights were controlled for. Duration of civil wars Ann Hironaka, author of Neverending Wars, divides the modern history of civil wars into the pre-19th century, 19th century to early 20th century, and late 20th century. In 19th-century Europe, the length of civil wars fell significantly, largely due to the nature of the conflicts as battles for the power center of the state, the strength of centralized governments, and the normally quick and decisive intervention by other states to support the government. Following World War II the duration of civil wars grew past the norm of the pre-19th century, largely due to weakness of the many postcolonial states and the intervention by major powers on both sides of conflict. The most obvious commonality to civil wars are that they occur in fragile states. Civil wars in the 19th and early 20th centuries Civil wars through the 19th century to early 20th century tended to be short; the average length of a civil war between 1900 and 1944 was one and half years. The state itself was the obvious center of authority in the majority of cases, and the civil wars were thus fought for control of the state. This meant that whoever had control of the capital and the military could normally crush resistance. If a rebellion failed to quickly seize the capital and control of the military for itself, it was normally doomed to a quick destruction. For example, the fighting associated with the 1871 Paris Commune occurred almost entirely in Paris, and ended quickly once the military sided with the government. The power of non-state actors resulted in a lower value placed on sovereignty in the 18th and 19th centuries, which further reduced the number of civil wars. For example, the pirates of the Barbary Coast were recognized as de facto states because of their military power. The Barbary pirates thus had no need to rebel against the Ottoman Empire, who were their nominal state government, to gain recognition for their sovereignty. Conversely, states such as Virginia and Massachusetts in the United States of America did not have sovereign status, but had significant political and economic independence coupled with weak federal control, reducing the incentive to secede. The two major global ideologies, monarchism and democracy, led to several civil wars. However, a bi-polar world, divided between the two ideologies, did not develop, largely due the dominance of monarchists through most of the period. The monarchists would thus normally intervene in other countries to stop democratic movements taking control and forming democratic governments, which were seen by monarchists as being both dangerous and unpredictable. The Great Powers, defined in the 1815 Congress of Vienna as the United Kingdom, Habsburg Austria, Prussia, France, and Russia, would frequently coordinate interventions in other nations civil wars, nearly always on the side of the incumbent government. Given the military strength of the Great Powers, these interventions were nearly always decisive and quickly ended the civil wars. There were several exceptions from the general rule of quick civil wars during this period. The American Civil War was unusual for at least two reasons: it was fought around regional identities, rather than political ideologies, and it was ended through a war of attrition, rather than over a decisive battle over control of the capital, as was the norm. The Spanish Civil War was exceptional because both sides of the war received support from intervening great powers: Germany, Italy, and Portugal supported opposition leader Francisco Franco, while France and the Soviet Union supported the government . Civil wars since 1945 In the 1990s, about twenty civil wars were occurring concurrently during an average year, a rate about ten times the historical average since the 19th century. However, the rate of new civil wars had not increased appreciably; the drastic rise in the number of ongoing wars after World War II was a result of the tripling of the average duration of civil wars to over four years. This increase was a result of the increased number of states, the fragility of states formed after 1945, the decline in interstate war, and the Cold War rivalry. Following World War II, the major European powers divested themselves of their colonies at an increasing rate: the number of ex-colonial states jumped from about 30 to almost 120 after the war. The rate of state formation leveled off in the 1980s, at which point few colonies remained. More states also meant more states in which to have long civil wars. Hironaka statistically measures the impact of the increased number of ex-colonial states as increasing the post-WWII incidence of civil wars by +165% over the pre-1945 number. While the new ex-colonial states appeared to follow the blueprint of the idealized state centralized government, territory enclosed by defined borders, and citizenry with defined rights -, as well as accessories such as a national flag, an anthem, a seat at the United Nations and an official economic policy, they were in actuality far weaker than the Western states they were modeled after. In Western states, the structure of governments closely matched states actual capabilities, which had been arduously developed over centuries. The development of strong administrative structures, in particular those related to extraction of taxes, is closely associated with the intense warfare between predatory European states in the 17th and 18th centuries, or in Charles Tillys famous formulation: War made the state and the state made war. For example, the formation of the modern states of Germany and Italy in the 19th century is closely associated with the wars of expansion and consolidation led by Prussia and Sardinia, respectively. Such states are considered weak or fragile. The strong-weak categorization is not the same as Western-non-Western, as some Latin American states like Argentina and Brazil and Middle Eastern states like Egypt and Israel are considered to have strong administrative structures and economic infrastructure. Historically, the international community would have targeted weak states for territorial absorption or colonial domination or, alternatively, such states would fragment into pieces small enough to be effectively administered and secured by a local power. However, international norms towards sovereignty changed in the wake of WWII in ways that support and maintain the existence of weak states. Weak states are given de jure sovereignty equal to that of other states, even when they do not have de facto sovereignty or control of their own territory, including the privileges of international diplomatic recognition and an equal vote in the United Nations. Further, the international community offers development aid to weak states, which helps maintain the facade of a functioning modern state by giving the appearance that the state is capable of fulfilling its implied responsibilities of control and order. The formation of a strong international law regime and norms against territorial aggression is strongly associated with the dramatic drop in the number of interstate wars, though it has also been attributed to the effect of the Cold War or to the changing nature of economic development. Consequently, military aggression that results in territorial annexation became increasingly likely to prompt international condemnation, diplomatic censure, a reduction in international aid or the introduction of economic sanction, or, as in the case of 1990 invasion of Kuwait by Iraq, international military intervention to reverse the territorial aggression. Similarly, the international community has largely refused to recognize secessionist regions, while keeping some secessionist self-declared states such as Taiwan in diplomatic recognition limbo. While there is not a large body of academic work examining the relationship, Hironakas statistical study found a correlation that suggests that every major international anti-secessionist declaration increased the number of ongoing civil wars by +10%, or a total +114% from 1945 to 1997. The diplomatic and legal protection given by the international community, as well as economic support to weak governments and discouragement of secession, thus had the unintended effect of encouraging civil wars. There has been an enormous amount of international intervention in civil wars since 1945 that served to extend wars. While intervention has been practiced since the international system has existed, its nature changed substantially. It became common for both the state and opposition group to receive foreign support, allowing wars to continue well past the point when domestic resources had been exhausted. Superpowers, such as the European great powers, had always felt no compunction in intervening in civil wars that affected their interests, while distant regional powers such as the United States could declare the interventionist Monroe Doctrine of 1821 for events in its Central American backyard. However, the large population of weak states after 1945 allowed intervention by former colonial powers, regional powers and neighboring states who themselves often had scarce resources. On average, a civil war with interstate intervention was 300% longer than those without. When disaggregated, a civil war with intervention on only one side is 156% longer, while intervention on both sides lengthens the average civil war by an addition 92%. If one of the intervening states was a superpower, a civil war is extended a further 72%; a conflict such as the Angolan Civil War, in which there is two-sided foreign intervention, including by a superpower, would be 538% longer on average than a civil war without any international intervention. Effect of the Cold War The Cold War provided a global network of material and ideological support that perpetuated civil wars, which were mainly fought in weak ex-colonial states, rather than the relatively strong states that were aligned with the Warsaw Pact and North Atlantic Treaty Organization. In some cases, superpowers would superimpose Cold War ideology onto local conflicts, while in others local actors using Cold War ideology would attract the attention of a superpower to obtain support. Using a separate statistical evaluation than used above for interventions, civil wars that included pro- or anti-communist forces lasted 141% longer than the average non-Cold War conflict, while a Cold War civil war that attracted superpower intervention resulted in wars typically lasting over three times as long as other civil wars. Conversely, the end of the Cold War marked by the fall of the Berlin Wall in 1989 resulted in a reduction in the duration of Cold War civil wars of 92% or, phrased another way, a roughly ten-fold increase in the rate of resolution of Cold War civil wars. Lengthy Cold War-associated civil conflicts that ground to a halt include the wars of Guatemala, El Salvador and Nicaragua . See also The Logic of Violence in Civil War War of Independence Wars of national liberation References

The Hospitality Industry Tamilnadu Tourism Essay

The Hospitality Industry Tamilnadu Tourism Essay This study has analysed the trends of the hospitality industry with special importance on Tamilnadu where the researcher has aimed at helping and growing the family business. This is done to get a better understanding of the Chennais market place, along with many other important cities in the state making it possible to go on board on selected strategies to effectively reach the local consumers. As Mohanty (2008) says, Hospitality is all about offering and comforting someone by all means to their needs. Good support from customers can be achieved by receiving and entertaining each and every single guest. In commercial context point of view, the word Hospitality refers to hotels, resorts, restaurants, clubs, catering etc. In todays world Economic Growth of a country depends on Hospitality industry along with Industrial and Agriculture. Tourism and Hotel sector is a widely expanding and booming segment in the market, and this industry offers huge job prospects to Indians. Due to globalisation there has been immense growth in Hospitality segment in India, especially in the metro and cosmopolitan cities. This has resulted in demand for well qualified and experienced candidates from this field in India and Overseas. India has become a ideal place of tourism and is the only country in the world with different cultures, languages and diverse topography along with political stability. India has become the place for Information technology companies and as Purushottaman (2005) says India has propelled to the top of the world in both Information Technology (IT) and Information Technologies enabled Services sector (ITES). Many MNCs from all around the world have opened their operations throughout India especially in South India. Initially Bangalore served as the Indian operations head office for many companies but then later on Chennai, capital of Tamilnadu state is becoming a business hub for major MNCs. This is due to involvement of many foreigners coming to India for business development. As a part of business development, business travels boomed to high and due to this the Hospitality sector developed along with more profitability. Nearly 50% of occupancy in all the hotels in major cities of Tamilnadu like Chennai, Madurai, Coimbatore, Trichy, Tuticorin, Tirunelveli have come from business travellers. In this particular research, the author has evaluated the devel opment of the hotel industry with a focus on above mentioned cities in Tamil nadu, India. The performance of Hotel Industry is back on its development and growth path as it had been in decline for the past two years (i.e.) 2008 2009 due to global economic recession, which affected the hospitality business in India. According to HVS 2009 report, the foreign arrivals have declined by 20% in 2008 2009, resulting in decline of occupancy and performance of hotel industry throughout India. All the major cities in India like Mumbai, Chennai, Delhi, Bangalore, and Kolkata had an average of 10% marginal decline in occupancy rate. According to FHRAI and HVS 2009 report, though the industry has faced decline in performance, the demand for the industry will immensely grow from 2010 and has reported that an average 5% growth will be recorded from 2010. In Tamilnadu though the industry faced decline in its capital, Coimbatore and Ootacamand has raised its status to become one of the 12 major cities in India after the metro cities. According to HVS 2009 report, the occupancy rate of H otels at Coimbatore, Madurai in Tamilnadu has increased by 5% respectively, though the industry on a whole has faced decline. So this clearly indicates the rise of demand for Hotel industry in Tamilnadu. In Industrial aspect all the cities in Tamilnadu has developed along different businesses. In last year several new projects have been announced in Chennai, Coimbatore, Madurai, Ootacamund which is due to higher growth market and more are required to ease the current situation. General occupancy rate and cost of rooms is high in major cities as the demand for rooms have increased but then the number of available rooms is less than the demand (HVS International survey, 2004 ). India economy has boomed in the last 5 to 6 years which is due to flourishment in IT sector, Finance, Banking, Telecom , Biotechnolgy, Real estate, Retailing etc. As Joshi (2005) denotes many major hubs in the country lacks quality hotels and rooms. Though the industry has developed a lot in the previous decade still there is demand for number of rooms required is under lack. He also denoted that India will become one of the worlds fastest growing tourism market and as suggested by him, the number of foreign tourists have increased in the year 2006 and 2007. SWOT ANALYSIS of Hotel Industry in Tamilnadu. STRENGTHS Natural and cultural diversity: India on a whole is very rich in cultural heritage and values. While considering the state of Tamilnadu, its heritage and history dates back to B.C., it has many historic places and monuments. The state pocess three main tourist spots in the country namely Oatacamund, Kodaikanal, Courtrallam and its the place where Rameswaram lies, one of two most spiritually important places in India for Hindus community. The state is along the southern coastal line of the country and has got many beautiful and sunny beaches along is shore. The state has become the region for business as it has got all the transportation means required and the state capital has one of the busiest ports in India. The state has got 8 national sanctuaries, and it has got many hills station including Ootacamund Kodaikanal. Demand Supply gap: There has always been a mismatch between demand and supply of rooms in Indian Hotel Industry. This has been the reason for higher room tariffs and the level of occupancy. The demand is raised a lot as India is hosting the 2010 Commonwealth games, and most importantly the demand for Chennai will increase due to 2011 Cricket World Cup in India. Many star categorized hotels have come in important cities of Tamilnadu in the last decade. Economical Growth: Indias economy is growing to new heights and been predicted to be second after China by 2050. India has now become a part of G20 nations which in turn denotes the growth of the Indian economy. Chennai city being one of the major business hubs of India is Bourne to immense growth in near future due to increase IT firms, growing Industry in numbers, government tourism development, and other business activities. Coimbatore, the other city in Tamilnadu which was initially a hub for textile industry has now turning out to be IT hub with many MNCs started to have their operations there. Due to industrial and automobile growth, the state of Tamilnadu has now become more occupied with the state having 6 different automobile company plants. Overall the International and domestic economic growth has brought in huge opportunity for Hotel Industry in Tamilnadu. Many huge player in the global market with global chain have started to walk in to Chennai market and along the state (tamilnadu). Weakness Slow Implementation- Growth in the tourism sector is considerably slow when compared to other departments. Though the market needs have increased, the adequate infrastructure facility for Hotel Industry is still lacking. Lack of proper manpower has always been an issue in the industry. Regional Imbalance: Regional Imbalance of hotels is prevailing a lot throughout India and that prevails in Tamilnadu also. Still some of the tourist spots in Tamilnadu, there isnt adequate number of rooms for to increase the demand and develop that region to be major tourist spot. Due to this, those tourist spot regions are still under developing schemes and they lack the actual demand which they are capable of producing. Capital Intensive: Initial cost involved in Hotel construction project (i.e.) cost of land is very high and contributes 50% of the total project cost, whereas in other countries it is around 15%. This operates as a major restriction to the Indian hotel Industry, with Tamilnadu being no exemption to this context. Long Gestation Period: Due to lack of proper government development scheme being actuated many rural tourist spots with cultural importance and heritage places lack hotels. This is due to long gestation period for the hotel to get back its breakeven point and also the future growth of the firm is under immense doubt. As mentioned earlier land cost being high in India, time period for Hotel development needs to be very fast in order flourish in the market. As of now this long growth period is making a full stop to Hotel Industry development in those areas. Oppurtunities Rising Income: The tendency of spending has increased among Indians due to rise in income levels. People of different age groups are bound to spend on different purchases and are more bound to spend on leisure tourism on a whole. Economy Rise: As stated in The Financial express (2008), Overall Indian Hotel Industry is going through a healthy growth phase due to rising economy which has made many foreign companies and investors to enter India, which in turn has raised the occupancy in Hotels. Thus due to economy rise government have implied many schemes to develop tourism. It has also stated that in Conde Nast Travaller ranking, India is been ranked 4th among 167 countries in most preferred travel destinations. This denoted that India has making its mark on global tourism sector. Threats Global Recession: In the last couple of years though the market for Hotel Industry has increased, the occupancy level has decreased due to global recession. Due to this situation, the percentage of business travellers dropped heavily as the companys restricted the travel expense for its employees. The dependency level on foreign tourists is always risky, as the economic depression has affected in all the developed companies and developing countries across the world. Hence there has been a huge fluctuation in International tourism. Rising Competition: Major International Hotel chains are entering Indian market as it is becoming the destination for economical growth. The existing market players are also bringing in lot of new facilities and offers to attract customers. Hence striving a place in customer mind will prove to be a hectic job. Thus there will be a rise in competition among the exciting Hotel market. . Aim: The main of this research is to explore the fundamental factors influencing the performance of the Hotel Industry in India, with special emphasis on Tamilnadu. Personal aims include: Preparation for myself in this hospitality line which will guide me to develop my family business to new heights in the market. To encourage Hoteliers make best use of the information resources gathered in this research. The need for the study emerges as more and more Hotel chains have started involving themselves in different type of complex business models and also they emphasize the need for cost-efficiency. Objectives: To assess the past and present performance of Hotels in Tamilnadu. To categorize the core factors of the identified trends. To understand the future growth opportunities for the hospitality sector in Tamilnadu. To provide proposals for the further development on this sector with regards to the state of Tamilnadu. Literature Review The term Hotel in British law is defined as the place where a bonafide traveller can receive food and shelter provided he is in a position to for it and is fit condition to receive (Yashroy.U, 2008). The origin of hotels came to India from British people. Until late 1920s all the hotels in India were maintained by British and Swiss people. The fact of Chennai being a metropolitan city dates back to 1639 when Chennai was used as main port for trading by East India Company which was maintained by British (Chennai Hotels, 2007). In current industrial world, one of the most successful industries is Hotel Industry. Demand has always been more than supply in all the cities. As FDI restrictions been eased off by government many MNCs have opened their operation in India especially in Tamilnadu. Indian economy rise in global market and rise of business activities in India has insisted for a need of quality hotel rooms for corporate and industrial people. This trend of hospitality development is significant all over India. Leisure travelling has increased in India, which also contributes to the factor of growth in Hotel Industry. Almost all the major hotel players in the world have their operations in India, which itself indicates the growth of Hotel Industry in India. While considering the state of Tamilnadu Chennai, Coimbatore, Madurai, Trichy, Tuticorin are the major cities and Ootacamund, Kodaikanal, Courtrallam, Yercaud, Kanyakumari are the main tourist spots in the state. Demand supply mismatch has increased along all the above mentioned places in terms of Hotel rooms. In the last few years the number of inbound tourists (foreign tourist) has increased and has been around 4.9 million in 2007, while outbound tourists (Indian going on foreign tour) have been around 8.3 million in 2006 (ITOPC, 2008). In the outbound tourists segment lot of travel has been business travel while others have been leisure travel segment. Since both the inbound and outbound tourism has increased, the need for quality hotels in India has been rising. India being a country of wide culture and composite of world class heritage is the main reason for its tourist attraction in the global arena. Considering the tourism in Tamilnadu, the domestic leisure travel is based on seasonality for the tourist spots and for cities is based on full swing business travel. Beside the rise in income level of the people has been a main reason for rise of leisure tourism in Tamilnadu. But still the majority of Star class hotels are used for business travels and Budget hotels are used for leisure travel. Inbound Tourism Statistics Foreign Tourists In India (Number) 2001 2002 2003 2004 2005 2006 2007 2008 January 283750 228150 274215 337345 385977 459489 532088 584765 February 262306 227529 262692 331697 369844 439090 498806 560658 March 248965 225558 218473 293185 352094 391009 444186 509926 April 185338 155378 160941 223884 248416 309208 333945 369677 May 151098 132998 141508 185502 225394 255008 267758 290785 June 176716 143100 176324 223122 246970 278370 310104 344526 July 224432 186432 225359 272456 307870 337332 377474 August 196517 161477 204940 253301 273856 304387 360089 September 162326 151721 191339 226773 257184 297891 325893 October 181605 212191 260569 307447 347757 391399 440715 November 209685 243566 290583 385238 423837 442413 510987 December 319271 417527 479411 541571 575148 Total 2282738 2073025 2726214 3457477 3918610 4447167 4977193 2660337 Source: Ministry of tourism, Govt.of India (ITOPC, 2008). Domestic Travel Statistics Tourists Statistics Tamil Nadu Year Domestic Tourists 2004 42279838 2005 43213228 2006 58340008 Source : Ministry of tourism, Govt. of India (ITOPC, 2008). Outbound Tourism Statistics Statistics of Indian National Going Abroad Year No of Outbound Indians Percentage Change over the previos year 2000 4415513 7.3 2001 4564477 3.4 2002 4940244 8.2 2003 5350896 8.3 2004 6212809 16.1 2005 7184501 15.6 2006 8339614 16.1 Source: Ministry of tourism, Govt. of India (ITOPC, 2008). The categories of hotels in India are of five segments. Those segments are Premium Luxury segments, Mid Market Segment, Heritage Hotels, Resorts, Budget Hotels, and Unclassified Hotels. Premium and Luxury Segment This segment is based on major players in the local and International market. The whole slot in this segment comprises of 5 -star and 5 -star deluxe hotels which mainly serves business travellers and upmarket foreign travellers. These hotels fall into luxury segment and they offer a high quality and higher range of services. They tariffs and other service cost in considered to be expensive and is situated only in metro cities and major tourist spots. This segment alone contributed 30% of total number of rooms back in 2004. When comparing with Tamilnadus context, it contributes 15 % of total number of rooms which is nearly half to the national segment ratio (Bhatia, 2004). Mid-Market Segment This segment is based on local players in the market and small chain of hotels within the domestic market. The 3star and 4star hotels falls under this segment, and they mainly cater to the average domestic and foreign leisure traveller, along with domestic business travellers as they nearly offer all the services as of premium hotels under low cost than the premium as the tax component for this sector is less than that of luxury and premium segments. This segment contributes 30% of the total number of rooms in Chennai, Coimbatore, and Madurai major cities in Tamilnadu (HVS International, 2009). Budget Segment This segment has emerged due to liberalisation in economy and is been mainly catered to middle class people with higher disposable income. This class comprises of 1 star and 2 star hotel. This type of hotels holds the major percentage of existence in the state of Tamilnadu. This segment caters for domestic travellers who prefer reasonably priced accommodation with limited luxury, and offers special seasonal discounts for domestic tourist packages. Low cost and good service is the main forefront of this hotel segment. Heritage Segment This segment is classified in the recent years to denote the hotels in palaces, castles, forts, and other buildings which were constructed before 1950. These traditional structures symbolise the ambience and luxury lifestyle of the past golden era (Ghosh, 2005). They have come to limelight with their lesser initial capital and for mirroring the traditional lifestyle of the past. These values have proved to be a major point of attraction and business for these hotels. While considering the context of Tamilnadu there are more than 10 hotels in existence (HHIMT, 2006). Unclassified or Other Segments This segment of hotels and motels are spread out throughout the country. If taken into account these contribute 50% of rooms occupancy in India. Their main point of sales income is low pricing policy. However some of them came into prominence on account due to increase in tourist congestion in major cities and tourist spots. These hotels officially now contribute 19% of the Industry. Performance measures in hotel management The performance of hotel property and chains can be measured in several ways. The simple method would be evaluating room rates and occupancy ratios. Another important measure with regards to occupancy rates is the Average Daily Room Rate (ARR). This is manipulated by dividing the revenue with the total number of rooms occupied. This occupancy ratio is also relatively important as that of ARR because it is an important indicator of profitability. The rate of occupancy is manipulated with number of rooms occupied by number of rooms available (Sola et.al, 1997, p.85). Market concept of Hotels As mentioned by many authors, Hotel is an commercial hospitality institution which offers services and loads of facilities to its customers on various cost factors aspects (Ghosh, 2005). Facilities Service Location Price Image (Source: Ghosh, 2005, p.131) All the five factors denoted in the factor are the terms related to hotel marketing concept. The term Location refers the geographic location of the hotel whether is the hotel is present in a city, rural area, or a tourist spot etc. It denotes to attractive features of the form, accessibility to the hotel, convenience factor, along with the surroundings. The term facilities refers to classy rooms, restaurants, leisure features, bars, banquet halls and recreation facilities (Weissinger, 2000).  . The term Service refers to the quality of the facilities offered and the extent to which it reaches to the consumers, availability of that service offered (Hoque, 2002).  Price factor implies the value given to its facilities and services offered to customers. The Image is a vital marketing factor as it portrays the hotel in the market and to the customers. This image is obtained from the above mentioned factors. For to maintain this factor all other factor have to be streamlined (Ghosh, 2005). Performance of Hotels in Tamilnadu The main focus the occupancy patterns of hotels two major metropolitan cities and two major tourist spots of Tamilnadu. The two major cities to be discussed are Chennai and Coimbatore and the two major tourist spots are Ootacamund and Kodaikanal. The percentage of occupancy rate in Chennai has risen by 12% in the current 2009 -2010 financial year after a decline in 2008 09 by 13% due to global recession. While in the case of Coimbatore, though the industry was also affected by recession in 2009, it dropped only by 5 % considering its growth ratio for the past decade with an average rise of 6% per year. The industry has also risen in current 2009 10 financial year by 10%. Both the cities are expected to have 16 new hotels, commercial serviced apartments for MNCs over the next 5 years. Both the cities have become an IT hub in the southern part o India. Chennai is amongst the seven major metropolitan cities, while Coimbatore and Ootacamund has become one amongst the twelve other major cities in the Hospitality and Industrial growth list (HVSFHRAI survey, 2009). The performance of Hotel Industry in Chennai city saw a decline in first half of 2009 as there was cost cutting activities taken by IT ITeS sectors and other business sectors along with decline in travel and entertainment. Though there was decline the city had the opening of two new star hotel property Taj Mount road Lemon Tree. The industry by the end of 2009 saw a rise in occupancies as the businesses boomed again and many new projects associated with travel and occupancy was announced. As mentioned earlier Chennai has always had a steady rise in Hotel Industry (HVSFHRAI survey, 2009). The performance of Hotel Industry in Coimbatore has been growing with steady Growth phase and Demand. Coimbatore is popularly known as Manchester of the south. The city itself is based on diversified economy consisting auto ancillary sector, textile sector, textile manufacturing and majorly in the past 6 years service sector has boomed in the city. The lower cost business operations have raised the city to prominence as a business destination in Tamilnadu and now across India. The occupancy rate has risen from 64 % in 2005 to 79% in 2009 though had a drop to 72% in the start of 2009 due to global recession. Coimbatore also has close proximity to Nligiris which implies that the demand for the Leisure segment will rise in the next few years. The current Star rated occupancy of 350 rooms is expected to rise to nearly 875 rooms which add pressure to the need of upgrade with the performance of hotels in a short term (Times, 2009). The existence of Ootacamund or in short term called Ooty, one of the major tourist destinations in India and has clearly marked as one amongst the other twelve major cities in India with its tourism Industrial growth. It is one of the primary hills station in South India. It is easily accessible via road and railways from Coimbatore, Chennai Bangalore. Ooty has retained its name as a Hills station tourist destination and hence many innovative and eco friendly hotels have come up nearby to the wildlife destinations. It is surrounded by natural sceneries, lakes, wildlife sanctuaries and many others. Domestic travel to this destination is being increasing at a higher pace (Kumar, 2010). The hotel occupancy has increased from 44% in 2005 to 59% in 2009 (HVSFHRAI survey, 2009). Kodaikanal is another major hill station in Tamilnadu. Tough Kodaikanal is categorised under developing urban areas, it still remains untouched by urban development and dense population as that of Ooty. It has got access from all the major cities in Tamilnadu and from Kerala as well. Though the number of Hotels in Kodaikanal is less than that of Ooty, they offer iunparelled experience in terms of comfort and services. It is surrounded by hills, huge lake, and number of parks, museums, and heritage places. There are two five star hotels, three four star hotels, more than 10 three star hotels in Kodaikanal. It is an intense developing tourist spot in India (Agarwal, 2007) Principle factors for growth of Hotels in India (Tamilnadu) The factors which influence the occupancy rate of Hotels , and their average room cost across the country are Domestic travel, International Arrivals, Health and Medical tourism, Business travel, MICE Meetings. Incentives. Conferences. Exhibitons. The Domestic travel is the vast growing market in India. Domestic Guests market is considered to be the most important segment for Indian hotel Industry, which accounted to 71.7 % of all guests in 2004- 05 (HVS, 2006). The effective guidance role for domestic travel is played by Budget airline, or low cost carriers. These have played a vital role in short business trips, short visits etc. Due to this a person from Chennai can go to Delhi in the morning, do his work over there and come back in the same day evening. This has made peoples work more convenient and easier than before, initially the cost factor played a vital role in choosing airlines. They were only used by higher business people as the ticket fare was costlier but then after the entry budget airlines in the market the frequency of air travel and the number of domestic travellers has been increasing from the initial entry period. The number of destinations has increased due to rising air trafiic. So connectivity to various destinations from one single destination is now very much possible. Now all the major private carriers, government carriers, and other small players in the market deal with budget airlines. They are Jetlite, Jetkonnec t, Spice Jet, Simplifly deccan, Air India Domestic formerly Indian Airlines, Go air, Paramount, Indigo and other new players which are in the queue for launch (Goyal, 2009). Tourists Statistics Tamil Nadu Year Domestic Tourists 2004 42279838 2005 43213228 2006 58340008 Source: Ministry of tourism, Govt. of India (ITOPC, 2008) International arrivals have been increasing steadily as the Business travels due to MNCs, leisure trips, and other trips have increased. Many Private and Government Indian carriers are now been operated to various destinations in the world which plays a vital role for the rise in International arrivals. Governments tourism scheme Incredible India is the most successful plan implemented by tourism ministry. This campaign has brought in many foreigners. This particular scheme has offered many advantages for tour packages. Hence the tour operators are doing aggressive marketing and attractive package offers to attract foreign tourists to India. The table below suggest that year 2008 has attracted around 5.4 million tourists from around the world, which is 5.6% more than previous year. The estimated foreign exchange earnings generated in the year 2008 was 50730 crores which are 14.4 % more than that of the previous year. The foreign exchange earning in terms of US dollars was 11747 US mi llion$ which is 9.3% rise than the previous year. Hence the rate of tourists arrival and the income has increased which in turn has resulted in growth of Indian hotel industry. In accordance to an official review the impressive inflow is one of the main reason for the rise in airline passengers, which in turn as the result of intensive advertising campaign done by the Ministry of tourism (Travel Tourism, 2005). Year Foreign Tourists Arrivals (in nos.) Percentage Change Over Previous Year Estimated Foreign Exchange Earnings (Rs. In Crore) Percentage of Change Over Previous Year Estimated Foreign Exchange (in Million US$) Percentage Over Previous Year 1999 2481928 12951 - 3009 2000 2649378 6.7 15626 20.6 3460 15.0 2001 2537282 -4.2 15083 -3.5 3198 -7.6 2002 2384364 -6.0 15064 -0.1 3103 -3.0 2003 2726214 14.3 20729 37.6 4463 43.8 2004 3457477 26.8 27944 34.8 6170 38.2 2005 3918610 13.3 33123 18.5 7493 21.4 2006 4447167 13.5 39025 17.8 8634 15.2 2007 5081504 14.3 44360 13.7 10729 24.3 2008 5366966 5.6 50730 14.4 11747 9.3 Source: Ministry Of Tourism India (2009). Medical tourism has now become one of the developing concepts whereby people from foreign countries come to India for medical treatment and relaxation. Major surgery treatments include Heart surgery, Plastic surgery, transplant surgery, Cosmetic surgery and Dental care. Patients from all

Importance of Corporate Governance

Importance of Corporate Governance 1. INTRODUCTION This chapter provides a definition of corporate governance and examines importance of, and the principles underpinning corporate governance. It also reviews prior research examining corporate governance disclosures and in particular, those which have investigated corporate governance disclosure in ECMs. 2. DEFINITIONS OF CORPORATE GOVERNANCE Modern corporations have dispersed ownership structure (Jenkinson and Mayer, 1994). Due to this, these corporate entities are characterised by contractual relationships between (shareholders) owners and managers (agents). Management is hired by owners (i.e. investors) to run the business on their behalf (Sarpong, 1999). Within the agency theory framework, it is theorised that managers may seek to maximise their wealth to the detriment of shareholders and bondholders through the consumption of perquisites (Jensen and Meckling, 1976). Decisions of agents have the tendency of unfavourably transferring wealth from one principal to another i.e. from bondholders to shareholders (Watts and Zimmerman, 1978). John and Senbet, (1998 p. 372) define corporate governance â€Å"as a means by which stakeholders of a corporation exercise control over corporate insiders and management such that their interest will be well protected†. Similarly, it is proposed that â€Å"corporate governance i ssues arise in an organization whenever two conditions are present. First, there is an agency problem, or conflict of interest, involving members of the organization these might be owners, managers, workers or consumers. Second, transaction costs are such that this agency problem cannot be dealt with through a contract† (Hart, 1995, p. 678) To avert the agency problem, there is the need to ensure that adequate and effective corporate governance structures are put in place to prevent abuse of power by managers (Cadbury, 1992). Corporate disclosure through annual reports is one of the essential instruments for the monitoring of managerial behaviour (Watts, 1977; Watts and Zimmerman, 1978). This requires frequent evaluation of managerial activities and performances particularly, through independent non-executive directors (Roberts et al 2005). Berle and Means (2003) view corporate governance as a relatively new concept in both the public and academic domains, although the central issues the concept seeks to address have been in existence for a longer period. The most common definition of the concept has been provided by the Organization for Economic Cooperation and Development (OCED). It defines Corporate governance as: ‘ a system by which business corporations are directed and controlled. Corporate governance structures specify the distribution of rights and responsibilities among different participants in the corporation, such as, the board, managers, shareholders and other stakeholders and spells out the rules and procedures for making decisions on corporate affairs. By doing this, it also provides the structure through which the companys objectives are set and the means of attaining those objectives and monitoring performance (OECD, 1999 p. 11). The influential Cadbury report defines corporate governance fundamentals and somewhat simplistically as ‘ the systems by which companies are directed and controlled (Cadbury 1992). This will require putting in place appropriate mechanisms which will ensure that corporate resources are safeguarded. Johnson and Scholes (1998) explained that corporate governance is concerned with both the functioning of organizations and the distribution of powers between different stakeholders. They argue that corporate governance determines whom the organization is there to serve and how the purpose and priorities of the organization should be decided. Thus, among other things, corporate governance is concerned with structures and processes for decision making, ensures accountability and controls managerial behaviour. It therefore, seeks to address issues facing board of directors, such as the interaction with top management and relationship with owners and others interested in the affairs of a company. The definitions outlined, directly or indirectly, share common elements. They all acknowledge the existence of conflict of interest between managers and shareholders as a result of the existence of separation of ownership and control in corporate activities. They further recognize the need to put in place effective corporate governance mechanisms to ensure that shareholders and investors interest are well protected. 1. IMPORTANCE OF CORPORATE GOVERNANCE As a result of globalization and the increasing complexity of business there is a greater reliance on the private sector as the engine of growth in both developed and developing countries. Organizations do not exist in a vacuum; they rather interrelate with a number of interest groups, known as stakeholders (Freeman, 1984). These stakeholders include shareholders, governments, regulatory bodies, creditors and the general public (Pease and Macmillan, 1993). Stakeholders are impacted by the activities of companies. In this regard, and in the context of this study, adequate and effective corporate governance disclosure becomes relevant to investors and other stakeholders from a number of standpoints. Effective corporate governance disclosure promotes transparency in corporate structures and operations. It strengthens accountability and oversight among managers and board members to shareholders (Bosch, 2002). This oversight and accountability combined with the efficient use of resources, improved access to lower-cost capital and increased responsiveness to societal needs and expectations leads to improved corporate performance. Many studies exist linking good corporate governance with better Performance. Fianna and Grant (2005) explains that good corporate governance helps to bridge the gap between the interests of those that a company, by increasing investor confidence and lowering the cost of capital for the company. Furthermore, they also add that it also helps in ensuring company honours, its legal commitments and forms value-creating relations with stakeholders. Coles et al. (2001) and Durnev and Han (2002, also found that companies with better corporate governance enjoy high er valuation. These studies results, helps in confirming the idea of good corporate governance, result in better decisions at all levels of the organization, not at top-management and board levels, but also in the better performance of the organization Again adequate and effective corporate governance disclosure ensures that corporate activities are run in an open and transparent manner (Brain 2005). Last, corporate governance practices boost market confidence and ensure effective allocation of capital in the market (Greenspan, 2002). From the forgoing discussions, the realization of the importance of good corporate governance practices is largely dependent on a number of internal factors. As a way of achieving this, a number of principles have been established. 3. PRINCIPLES UNDERPINNING CORPORATE GOVERNANCE DISCLOSURE A number of principles underpin effective corporate governance. These principles are business probity, responsibility and fairness or equal opportunity. Corporate entities are expected to exhibit these qualities to ensure good governance. Embracing the outlined principles will improve relationships between companies, their shareholders and the overall welfare of every economy. These principles are briefly discussed. Business probity requires individuals in charge of companies to be open and honest in the discharge of their activities. According to Brain (2005) openness implies a willingness to provide information to individuals and groups about the activities of a company. In this regard, it is important to recognize that shareholders and investors need to know the position of a company in order to evaluate their performance. Timely delivery of information will enable them achieve this purpose. Good corporate governance disclosure requires handlers of companies to be honest in the discharge of their activities. Honesty requires managers to deliver factual information. A sign of honesty is that statements of companies are believed. However, Brain (2005 p. 26) contends that â€Å"honesty might seem an obvious quality for companies, but, in an age of spin, and the manipulation of facts, honest information is perhaps by no means as prevalent as it should be.† Corporate governance requires handlers of corporate entities to be responsible in the discharge of their duties. Investors require confidence that companys financial systems are secured and credible. Managers are therefore expected to work in this direction to meet investors expectation. Responsibility in the context of corporate governance includes other issues such as transparency and accountability. These principles are vital to the survival and welfare of every company. Thus, managers have a duty to explain their actions to shareholders as well as investors so as to enhance their understanding of the direction of the companys activities. The principle of fairness requires impartiality and a lack of bias in corporate activities. In the context of corporate governance, the quality of fairness is achieved when managers behave in reasonable and unbiased manner. In this sense, to ensure good governance shareholders are expected to receive equal consideration. This means minority shareholders should be treated the same way as majority shareholders. References Berle, A.A. and G.C. Means (2003). The Modern Corporation and private property, New York, Macmillan Company. Bosch, H. (2002), The changing face of corporate governance, UNSW Law Journal, Vol. 25 No.2, pp.270-93. Brain, C. (2005) Corporate Governance, ICSA text Cadbury A. (1992) Financial Aspect of corporate governance Coles JW, Mcwilliams VB, Sen N. An examination of the relationship of governance mechanisms to performance. Journal of Management 2001; 29 (1):23-50. Durnev A, Han KE. The interplay of firm-specific factors and legal regimes in corporate governance and firm valuation. In: Paper Presented at Dartmouths Center for Corporate Governance Conference: Contemporate Governance; 2002. p. 12-3. Fianna J, Grant K. The revised OECD principles of corporate governance and their relevance to non-OECD countries, vol. 13. Blackwell Publishing Ltd; 2005. p. 2. Freeman, R.E (1994). The Stakeholder Theory of Modern Corporations. Concepts, evidence and implications, Academy of Management Review Vol. 20, 65-91 Greenspan, A. (2002) Corporate Governance in Emerging Markets Hart, O. (1995), â€Å"Corporate Governance, Some Theory and Applications, The Economic Journal 105: 687-689 Jenkinson T. and Mayer C.P. (1994). Hostile takeovers defense attack and corporate performance. McGraw Hill. Jensen, M. C. and Meckling, W. H (1976). Theory of the Firm: Managerial Behaviour, Agency Costs and Ownership Structure. Journal of Financial economics 3(3): 305-60 John, K., and L. Senbet (1998), â€Å"Corporate Governance and Board Effectiveness†, Journal of Banking and Finance 22: 371-403. OECD (2005), Guidelines on Corporate Governance of State Owned Enterprises Roberts, J. T. McNulty, et al (2005). â€Å"Beyond agency conceptions of the work of the non-executive director: creating accountability in the boardroom†. Special Edition. British Journal of Management 16:S5-S26 Sarpong, K.K. (1999) Financial Reporting in Emerging Capital Markets: A Case Study of Ghana, PHD Thesis, The University of Warwick Watts, R. L. 1977. Corporate Financial Statements, a Product of the Market and Political Processes. Australian journal of Management: 53-75. Watts, R. L. and J. L. Zimmerman. 1978. Towards a Positive Theory of the determination of Accounting Standards. Accounting review: 112-34

Essay --

CHAPTER 3 RESEARCH METHODOLOGY The purpose of this study is to investigate the relationship between types of compensation towards employee’s loyalty among administrative support personnel in selected banking industry at Klang Valley. Other than that, this section briefly described the processes and included research questions regarding the relationship between types of compensation towards employee’s loyalty among administrative support personnel in selected banking industry at Klang Valley. In addition, this chapter will described the technique and methods that was used to accomplish the objectives of this research, which include the research design, sampling frame, population, sampling technique, sample size, unit of analysis, data collection procedures, instrument, validity of instrument and data analysis. Research Design The research design used for this research is descriptive, using nonexperimental research method. According to Salkind (2003) descriptive research describes the characteristics of an existing phenomenon. Descriptive research design is used when one wants to get information on the present status of a person or an object. It is used to describe what is in presence in respect to conditions or variables that are found in a given situation. In addition, Salkind (2003) also stressed that several benefits of descriptive design such as enables a more in-depth examination of particular situation compared than other research design. In this research, the researcher focus on the relationship between types of organizational fringe benefits towards employee loyalty among administrative support personnel in selected banking industry of Klang Valley. Sampling Frame The sampling frame that the researcher will u... ...formation had been received will make more strong result. The other part that had been include during distribute the questionnaire is a cover later. The cover letter is one of important information that had been including in the questionnaire. The purpose for include the cover letter is to explain the objective of this research. The questionnaire had been distributed to every staff in the organization. Plan for data analysis Each result of the questionnaire response will be examined for completeness before being entered into data analysis system. After that, the data collected will be analyzed using Statistical Package for Social Science (SPSS) version 20.0. SPSS will be used as the analysis tool because this research used a structured questionnaire and it is also purposely used to provide a broad range of capabilities for the entire analytical processes.