Canto Xx of Dantes Inferno - 1074 Words

An Analysis of The Souls Damned in Canto XX from Dante Alighieri’s Inferno Introduction Virgil and Dante find themselves in Circle Eight, Bolgia Four. The damned in this circle are all diviners and soothsayers, viewed by Dante as practitioners of impious and unlawful arts who attempt to avert God’s designs by their predictions. Virgil implies that those who do prophesy believe that God Himself is â€Å"passive† in the face of their attempts to foresee, and possibly change, the future. For such impiety, those who have tried to look forward now have their heads turned backward on their bodies. Among these damned are Amphiareus, Tiresias, Aruns, Manto, Eurypylus, Michael Scott, Guido Bonatti, and Asdente. Body Dante takes a step backward in†¦show more content†¦Conclusion During Dante’s time, fortune telling and sorcery is prevalent in Italy. Diviners and soothsayers are found in different works of literature such as Sophocles’ Oedipus Rex and Ovid’s Metamorphoses. Medieval people from all walks of life- a shoemaker, astrologer, scientist, military adviser and kings believe in the craft of fortune telling and follow what the soothsayers said even if it means putting people into exile and not attending a war. Canto XX mentioned one of the 7 kings who fought against Thebes, a blind soothsayer from Greek Mythology, a soothsayer from Etruia, a sorceress, an irish scholar who dealt with the occult, a court astrologer and a military adviser- all of them reflected the practice of the forbidden arts before and during Dante’s time and until now it is still widely accepted and promoted by people. There are horoscope sections in the newspaper and magazines, fals e prophets and fortune tellers are found everywhere in the archipelago. It is ironic that there are dozens of fortune tellers in front of the Quaipo Church when it is supposed to be a house of God and place of worship, not a place of sin. In keeping with Dantes theme of Divine Retribution, the Fortune Tellers and Diviners have their heads on backwards, their tears ran down their backs, and down the between the cleft of their buttocks . These are the souls who, on Earth, tried to see too far ahead of them, and thus will spend eternity forever looking behindShow MoreRelatedAnalysis Of `` Inferno And Thomas More s Satirical Dialogue `` Utopia ``1366 Words   |  6 Pagessetting, characters, and theme.. Dante’s Inferno and Thomas More’s Utopia are perfect examples of the use of irony as they utilized the various techniques throughout their stories. There are a plethora of accounts where irony is apparent, including the sceneries, dialogue, and titles that are portrayed in their work. This essay will examine and compare the uses of irony in Dante Alighieri’s narrative poem, Inferno and Thomas More’s satirical dialogue, Utopia. Dante’s Inferno describes distinctive usesRead MoreInferno Research Paper1715 Words   |  7 PagesInferno Research Paper Anthony K. Cassell stated in his critical essay titled â€Å"Farinata† that â€Å"the methods of punishment in Dante’s Hell are exquisitely diverse.† The cantos in Inferno are focused on Circles or subdivisions of Hell that describe specific punishments for the suffering souls based upon the sin they committed. The deeper into Hell, the worse the sins that were committed, therefore the agonies of the punishments are greater. In Inferno, Dante brings the issue of sin into light by givingRead MoreWhy Is Humanities Important?3163 Words   |  13 Pagesup. These works are continuously referenced. Another reason that humanities is taught is because it helps people express themselves better, and have a broader base from which to do so. If most of us have read and memorized the punishments in the Inferno than most people would understand. But the basic idea is that by studying humanities we ll communicate and understand each other better. And while memorizing these in fernal punishments may seem tedious, if looked at pragmatically it s really notRead MoreInferno And The Divine Comedy1834 Words   |  8 PagesInferno (c. 1314) serves as the first part of Dante Alighieri’s poem Divine Comedy which is a journey through Hell, Purgatory, and Heaven. On a broader level, Divine Comedy serves as an allegory for the journey of the soul towards God through the created earth. Inferno and the Divine Comedy serve as a form of scholastic thought, the rational study of religion, as Dante draws on medieval theology to share the modern view on God and the afterlife. This essay explores Dante’s perception of the universeRead More Dante’s Inferno - The Evolving Relationship between Dante the Pilgrim and Virgil the Guide2167 Words   |  9 PagesDante’s Inferno -   The Evolving Relationship between Dante the Pilgrim and Virgil the Guide       In Dante’s Inferno, the relationship between Dante the Pilgrim and Virgil the Guide is an ever-evolving one. By analyzing the transformation of this relationship as the two sojourn through the circles of hell, one is able to learn more about the mindset of Dante the Poet.   At the outset, Dante is clearly subservient to Virgil, whom he holds in high esteem for his literary genius.Read MoreThe Inferno is a work that Dante used to express the theme on his ideas of Gods divine justice. Gods divine justice is demonstrated through the punishments of the sinners the travelers encounter.2641 Words   |  11 PagesOUTLINE Thesis statement: In Dantes Inferno, the first part of the Divine Comedy, Dante develops many themes throughout the adventures of the travelers. The Inferno is a work that Dante used to express the theme on his ideas of Gods divine justice. Gods divine justice is demonstrated through the punishments of the sinners the travelers encounter. 1) Introduction A. An overview Dante Alighieris life, writing style and the Inferno B. Dante Alighieris life during the torrential times of theRead More Finding Morality and Unity with God in Dantes Inferno Essay1405 Words   |  6 PagesFinding Morality and Unity with God in Dantes Inferno Throughout the fast-paced lives of people, we are constantly making choices that shape who we are, as well as the world around us; however, one often debates the manner in which one should come to correct moral decisions, and achieve a virtuous existence. Dante has an uncanny ability to represent with such precision, the trials of the everyman’s soul to achieve morality and find unity with God, while setting forth the beauty, humor, and horrorRead MoreThe Divine Comedy: Allegory2235 Words   |  9 PagesThe Divine Comedy: Inferno Dante Alighieri Major Characters †¢ Dante Alighieri o Thirty-five years old at the beginning of the journey ( half of man’s biblical life span â€Å"threescore and ten years† (Psalm 90:10) o Lost his way on â€Å"the true path† of life ( sin has obstructed his path to God o Explores the nature of sin by traveling through hell o Rooted in the Everyman allegorical tradition ( represents humanity o Little known about his lifeRead MoreAnalyzing Dantes The Divine Comedy2313 Words   |  9 Pagesand his use of contrapasso. Durante degli Alighieri, usually referred to as Dante (1265-1321), was an Italian poet, moral philosophers, and political thinker best known for his epic poem La divina commedia. Essentially, The Divine Comedy describes Dantes journey through Hell, Purgatory, and Paradise guided at first by the Roman poet Virgil, and then by Beatrice, the subject of his undying love. In many ways, though, the poem is both a literary story of a journey and a commentary about the political

A Raisin in the Sun Compare/Contrast Play/Film Essay

Lorraine Hansberry’s play â€Å"A Raisin in the Sun,† was a radically new representation of black life, resolutely authentic, fiercely unsentimental, and unflinching in its vision of what happens to people whose dreams are constantly deferred. I compared Act One, Scene 2, in the play and the film. The setting in the play is on a Saturday morning, and house cleaning is in process at the Youngers. In the film, the setting is the same as play, with lighting and costumes. The plot in the play is when Mrs. Younger gets the insurance check of $10,000. In the film, the plot is the same, but includes music not mentioned in the play. The dialogue in the film has some deletions from the original text, with new dialogue added throughout the scene.†¦show more content†¦Perhaps the biggest difference between the play and the film in this scene involves dialogue. Much of the dialogue is rephrased and not said as the author has written it in the play. And also, some of the dialogue from the original text is deleted, however, new dialogue is added. And also, unlike the film, a lot of the actions the author has described in the play did not happen in the film. Such as, on page 91 as Ruth says â€Å"Praise God!† the author describes that she raises both arms classically, and as she tells Walter Lee to be glad, the author describes she has laid her hands on his shoulders, but he shakes himself free of her roughly, without turning to face her, these actions did not happen in the film. I also had compared Act Two, Scene 3, in the play and the film. The setting in the play is on a Saturday, moving day, one week later. In the film, the setting is the same as the play, with lighting and costumes. The plot in the play is Linder tries to buy back the house from the Younger family. In the film, the plot is the same as the play. The dialogue in the film has some deletions from play; new dialogue is added in replacement of the deleted dialogue. Some film techniques used in this scene are: the film cuts back and forth to different characters, and the room is well lit with the sunshine coming in through the window. Perhaps the biggestShow MoreRelatedEssay on Compare Contrast a Raisin in the Sun1026 Words   |  5 PagesFrontina Taylor English Comp II Jaime Barrett Compare and Contrast A Raisin In The Sun Essay In the play, A Raisin in the Sun, by Lorraine Hansberry, and 1961 movie written by Lorraine Hansberry and presented by Columbia pictures, one of the most important themes is the American Dream. Many of the characters have hopes and dreams. They all strive towards their goals throughout. However, many of the characters have different dreams that clash with each other. Problems seem toRead MoreEssay on Media Analysis5267 Words   |  22 Pages‘Media’ is the plural of the word ‘medium’, which often refers to different ways of communicating with other people; if the target is a large number of people, then it is called ‘mass media’. There are many types of media, such as TV, radio, films, newspaper, Internet etc. The main purpose of media is to entertain; however they can also be used to persuade, inform, explain and advice. Media can be very powerful; therefore people are influenced and affected by them. The twoRead MoreLangston Hughes Research Paper25309 Words   |  102 Pageshe had waited for Jesus and he hadnt come. He felt unworthy of love. Not only had he been abandoned by his parents, but Jesus had not transformed his soul and saved him from sin. Many years later he wrote a poem, Genius Child. In the poem, he compares a child to an eagle that cannot be tamed, with a soul that runs wild. 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Answer: TRUE Page Ref: 12 Objective: 4 Difficulty: Easy 99) The overabundance of information available on the Internet has made it more difficult for consumers to compare product features and prices. Answer: FALSE Page Ref: 13 Objective: 4 AACSB: Reflective thinking Difficulty: Easy 100) Companies can facilitate and speed external communication among customers by creating online and off-line buzz throughRead MoreCase Studies67624 Words   |  271 Pagesacquisition with significant involvement from students as active learners. In the words of Alfred North Whitehead, this philosophy ‘rejects the doctrine that students had first learned passively, and then, having learned should apply knowledge’.3 In contrast to this philosophy, the case analysis method is based on principles that were elaborated upon by John Dewey: Only by wrestling with the conditions of this problem at hand, seeking and finding his own way out, does [the student] think ... If he cannot

Fin 202- Group Assignment Free Essays

â€Å" p c l h n t Ms h m Le H S ei t a k o . a i a a P n frh ligu t d t i po c† o e n s o o hs rj t p e Table of content: Excutive Summary: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. We will write a custom essay sample on Fin 202- Group Assignment or any similar topic only for you Order Now P. 3 Business Plan:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 3 Vision:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 3 Main Services:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦P. 3 Evaluating the market:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 4 Financial Plan:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 5 Initial Investment:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 5 Interest Payment:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦P. 6 Wages Payment: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦P. 6 Variable cost:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 7 Fixed cost per year for Selling and Admin activities:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 7 Expected number of customers:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 7 Total expense:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 8 Price of each services:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦P. 8 Revenue Plan:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ P. Profit Loss Plan:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 9 Break even for each year:†¦Ã¢â‚¬ ¦P. 9 Cash flow Analysis:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 10 Conclusion:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 10 Reference:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 11 Excutive summary: In order to bring customers a new service, especially for the female customers, our group decided to bring a new project- call Cake Paradise. Nowadays, need of making a handmade cake or chocolate of female customers for their lovers, friends or families is very high but not everyone has enough money to buy for herself an expensive oven or cake cooking tools. Our project is created to solve this problems. We provide a service for customer to hire our kitchen with full machines tools of cake cooking to made a cake or chocolate. We also provides ingridiants in Shop of cake ingridients in 1st floor and Class of learning how to make a cake 2 times/week. With this advantages and professional of this service, we believe we will achieve the highest expectation from customer. To be the first company provide service in hiring Cake making machines and Tools, Cake paradise have high grow rate and fullfill the need of customers about the cake making-which means profitable and deserve to be invested. Business plan: Vision: Customers Focus High quality services Grown up by 100% in the first 5 years Making profits since 2nd or 3rd year operating Main Services: 1st Floor: Shop of Cake ‘ingridientswhere you can find any kinds of cake ingridients and tools. 2nd 3rd Floor: Cake paradise’s Kitchen – for hiring with fullfill cake making ‘s equipment and tools. It is call DIY service- With VND120,000 for 3 hours, you will have full of cake making equipment and tools to make your ideal cake for your lovers. Every Friday and Sunday, we have classes of making cake, which are teached by cookers who are very experienced in making cakes- With VND400,000 for a 4-hour class, you will learn to make 3 kinds of delicious cakes or chocolate in the world, it is a best price for any learners. Evaluating Market: Instead of going to a cake shop and buy for the lovers or family, friends a cake, recently, many girls and women want to make for her relatives a cake by herself. This gift is unique and more meaningful to her relatives and in other way, it prove the womenliness and caringful of who made it. It now creates a trend not only in making cake but also in making handmade stuffs. We notice that there is a lack for cake handmade market. We can easily find handmake ‘s materitals and tools in the market as paper, stuff,†¦.. with a quite cheap price. But in making cake, the ingridients, especially the cake making equipments are very expensive. Not everyone has enough money to buy for herself a expensive oven or cooking tools. When in the market, there are many suppliers provides for other handmade things but there aren’t a supplier which provide hiring cake making machine tools although the demand of it is very high. Seeing this, our group decided to bring Cake paradise service to customer. Financial Plan: Innital Investment: We plan the project will be implemented in 5 years For the long-term assets, time for full depreciation is 5 years. No. Tool Equipment Capital Expense 1st Floor -Shop for Cake’s ingridients Good shelf Refrigerator Table Electronic Cash Regristor Cost of Installment Decoration 2nd 3rd Floor- Place for DIY and Learning Kitchen cupboard Oven Refrigerator Hand-mixer Blender Gas cooker Fan Table Cost of Installment Decoration 4th Floor -Office Destop PC Phones Printer Office Table and chairs Cost of Installment Decoration Working capital for the zero year Uniform for Staff Training course for staff Tools for the kitchen Tools for the office Cash INITAL INVESTMENT Quantity Cost per Unit Total Cost 148,500,000 17,800,000 4,800,000 3,500,000 1,000,000 3,500,000 5,000,000 99,900,000 30,000,000 18,000,000 26,000,000 2,800,000 1,100,000 4,000,000 4,000,000 4,000,000 10,000,000 30,800,000 20,000,000 800,000 3,000,000 5,000,000 2,000,000 45,000,000 2,000,000 3,000,000 5,000,000 5,000,000 30,000,000 193,500,000 29,700,000 1 1 1 600,000 3,500,000 1,000,000 3,500,000 5,000,000 15,000,000 3,000,000 13,000,000 700,000 550,000 2,000,000 1,000,000 1,000,000 10,000,000 10,000,000 800,000 3,000,000 1,000,000 2,000,000 200,000 500,000 TOTAL DEPRECITAION 2 6 2 4 2 2 4 4 2 1 1 5 10 6 Interest Payment: Year Quarter 1 I II III IV 2 I II III IV 3 I II III IV 4 I II III IV 5 I II III IV INTEREST PAYMENTS (VND) Beginning Balance Principal Payment Interest Payment Total Payment Total Payment/Year Ending Balance 80,000,000 4,000,000 2,400,000 6,400,000 24,880,000 76,000,000 76,000,000 4,000,000 2,280,000 6,280,000 72,000,000 72,000,000 4,000,000 2,160,000 6,160,000 68,000,000 68,000,000 4,000,000 2,040,000 6,040,000 64,000,000 64,000,000 4,000,000 1,920,000 5,920,000 22,960,000 60,000,000 60,000,000 4,000,000 1,800,000 5,800,000 56,000,000 56,000,000 4,000,000 1,680,000 5,680,000 52,000,000 52,000,000 4,000,000 1,560,000 5,560,000 48,000,000 48,000,000 4,000,000 1,440,000 5,440,000 21,040,000 44,000,000 44,000,000 4,000,000 1,320,000 5,320,000 40,000,000 40,000,000 4,000,000 1,200,000 5,200,000 36,000,000 36,000,000 4,000,000 1,080,000 5,080,000 32,000,000 32,000,000 4,000,000 960,000 4,960,000 19,120,000 28,000,000 28,000,000 4,000,000 840,000 4,840,000 24,000,000 24,000,000 4,000,000 720,000 4,720,000 20,000,000 20,000,000 4,000,000 600,000 4,600,000 16,000,00 0 16,000,000 4,000,000 480,000 4,480,000 17,200,000 12,000,000 12,000,000 4,000,000 360,000 4,360,000 8,000,000 8,000,000 4,000,000 240,000 4,240,000 4,000,000 4,000,000 4,000,000 120,000 4,120,000 Notes: Debt of VND80,000,000 from bank, maturity of 5 years, interest rate 12% Interest is paid in from the first month, principal payment is incurred once a quarter Wages payment: Job title 1 Director 2 Secretary 3 Accountant 4 Sales Assistant 5 Cooking teacher 6 Securities Total Quantity 1 1 1 6 2 2 WAGE PAYMENTS (VND) Year 1 Year 2 72,000,000 75,600,000 42,000,000 44,100,000 48,000,000 50,400,000 144,000,000 151,200,000 96,000,000 100,800,000 48,000,000 50,400,000 450,000,000 472,500,000 Year 3 79,380,000 46,305,000 52,920,000 158,760,000 105,840,000 52,920,000 496,125,000 Year 4 83,349,000 48,620,250 55,566,000 166,698,000 111,132,000 55,566,000 520,931,250 Year 5 87,516,450 51,051,263 58,344,300 175,032,900 116,688,600 58,344,300 546,977,813 Notes: 1. Wages of Director, Secretary, Accountant, Sales Assistant, Securities are included in Selling and Admin Fixed expense each year 2. Wages of cooking teacher is included as Direct Labor for Learning Services 3. Wages growth rate is 5% each year Variable cost: We have three services in this project, in general, to estimate the variable cost, we estimate the variable cost beyond the number of customers we service. Services Included Shopping DIY Learning Bag Tool packgage 1 Tools package 2 Ingridients Using CP’s kitchen Using CP’s tools Teacher Services Included Bag Tool package 1 Tool package 2 Ingridients Using CP’s kitchen (gas, water, electricity cost,†¦) Using CP’s kitchen ‘s tools Teacher Total VARIABLE COST PER CUSTOMER Shopping DIY 500 3,500 Learning 500 3,500 15,000 3,000 10,000 500 3,500 15,000 50,000 3,000 10,000 50,000 132,000 4,000 32,000 Fixed cost per year for Selling and Admin activities: FIXED COST PER YEAR FOR ADMINSTRATIVE SELLING ACTIVITIES Detail Per month Per year Internet bill 250,000 3,000,000 Electricity bill 1,500,000 18,000,000 Water bill 200,000 2,400,000 Phoning bill 200,000 2,400,000 Advertising exp 6,000,000 Other exp 1,000,000 12,000,000 43,800,000 Expected number of customers: year 1 Shopping DIY Learning Total EXPECTED NUMBER OF CUSTOMER year 2 year 3 year 4 3500 4550 5460 2920 3796 4555 768 998 1198. 1 7,188 9,344 11,213 year 5 5733 4783 1258 11,774 6020 5022 1321 12,363 We assume that because this is a new services which haven’t existed in the market so it will have a numerous of customers The growth rate will be 30%, 10% and 5% for the year of 2, 3, 4 and 5 respectively , after the services enter the market. Total expense: Year 0 Total Variable costs Shopping DIY Learning Total Fixed costs Wages Depreciation House Renting Fixed cost of selling and admin Intersest payment Total cost TOTAL EXPENSE Year 1 Year 2 Year 3 Year 4 Year 5 208,816,000 271,460,800 325,752,960 342,040,608 14,000,000 18,200,000 21,840,000 22,932,000 93,440,000 121,472,000 145,766,400 153,054,720 101,376,000 131,788,800 158,146,560 166,053,888 512,380,000 354,000,000 29,700,000 60,000,000 43,800,000 24,880,000 721,196,000 528,160,000 371,700,000 29,700,000 60,000,000 43,800,000 22,960,000 799,620,800 544,825,000 390,285,000 29,700,000 60,000,000 43,800,000 21,040,000 870,577,960 562,419,250 409,799,250 29,700,000 60,000,000 43,800,000 19,120,000 904,459,858 359,142,638 24,078,600 160,707,456 174,356,582 580,989,213 430,289,213 29,700,000 60,000,000 43,800,000 17,200,000 940,131,851 Price of each services: Customer Year 1 Shopping DIY Learning Year 2 Shopping DIY Learning Year 3 Shopping DIY Learning Year 4 Shopping DIY Learning Year 5 Shopping DIY Learning 3,500 2,920 768 4,550 3,796 998 5,460 4,555 1,198 5,733 4,783 1,258 6,020 5,022 1,321 Variable Cost 14,000,000 93,440,000 101,376,000 18,200,000 121,472,000 131,788,800 21,840,000 145,766,400 158,146,560 22,932,000 153,054,720 166,053,888 24,078,600 160,707,456 174,356,582 Fixed cost Toatal cost Cost per customer Average cost in 5 year 512,380,000 51,238,000 65,238,000 18,639 15,138 230,571,000 324,011,000 110,963 92,074 230,571,000 331,947,000 432,223 360,406 528,160,000 52,816,000 71,016,000 15,608 237,672,000 359,144,000 94,611 237,672,000 369,460,800 370,053 544,825,000 54,482,500 76,322,500 13,978 245,171,250 390,937,650 85,822 245,171,250 403,317,810 336,637 562,419,250 56,241,925 79,173,925 13,810 253,088,663 406,143,383 84,915 253,088,663 419,142,551 333,186 580,989,213 58,098,921 82,177,521 13,652 261,445,146 422,152,602 84 ,059 261,445,146 435,801,728 329,932 Shopping DIY Learning Original Cost plus 1% Final Price Note: We calculate the total cost of a service and base on it to estimate the price 15,289 17,000 For the Shopping services, the price is the average profit we gain from each shopping bill 92,995 120,000Assume that the shop don’t have inventory because the goods are directly taken from agent 364,010 400,000 Revenue Plan: Year 0 Shopping Customer Profit/bill DIY Customer Price Learning Customer Price Total Growth rate of revenue (%) Year 1 EXPECTED REVENUE Year 2 Year 3 Year 4 Year 5 59,500,000 77,350,000 92,820,000 97,461,000 102,334,050 3,500 4,550 5,460 5,733 6,020 17,000 17,000 17,000 17,000 17,000 350,400,000 455,520,000 546,624,000 573,955,200 602,652,960 2,920 3,796 4,555 4,783 5,022 120,000 120,000 120,000 120,000 120,000 307,200,000 399,360,000 479,232,000 503,193,600 528,353,280 768 998 1,198 1,258 1,321 400,000 400,000 400,000 400,000 400,000 717,100,000 932,230,000 1,118,676,000 1,174,609,800 1,233,340,290 30 20 5 5 Because this is a completely new services, so after the first year, the number of customers increase sharply in the 2nd and 3rd year, but in the 4th and 5th year when Cake paradise (C has the competitor, ( who enter the market to join this segment), the growth rate of CP increase slightly at 5%. Profit Loss Plan: Year 1 Revenue Variable Cost Contribute Margin Fixed Cost Earning before Tax Tax Earning after tax PROFIT AND LOSS PLAN Year 2 Year 3 Year 4 Year 5 717,100,000 932,230,000 1,118,676,000 1,174,609,800 1,233,340,290 208,816,000 271,460,800 325,752,960 342,040,608 359,142,638 508,284,000 660,769,200 792,923,040 832,569,192 874,197,652 512,380,000 528,160,000 544,825,000 562,419,250 580,989,213 (4,096,000) 132,609,200 248,098,040 270,149,942 293,208,439 28% 28% 28% 28% 28% (4,096,000) 95,478,624 178,630,589 194,507,958 211,110,076 We can see that in the first year, because this is a new service and it needs time for the customers to know and have the habit to use this service, so the earning after tax for the first year is negative. After the first year,the number of customers who know and use Cake Paradise service increase (beyond word of mouth), the earning after tax for the 2nd, 3rd, 4th, 5th increase sharply. Break even for each year: Year 1 CM CM unit CM Ratio Break even point Break even revenue Safety of margin 508,284,000 70712. 9 0. 7088 7,246 722,878,741 (5,778,741) BREAK EVEN Year 2 Year 3 Year 4 Year 5 660,769,200 792,923,040 832,569,192 874,197,652 70712. 9 70712. 9 70712. 9 70712. 9 0. 7088 0. 7088 0. 7088 0. 7088 7,469 7,705 7,954 8,216 745,141,567 768,652,973 793,475,388 819,674,364 187,088,433 350,023,027 381,134,412 413,665,926 Cash flow: We have, cost of capital was calculated by WACC assumption: ( ( ) ) Year 0 Revenue Operating Expense EBITDA DA EBIT (1- Tax) NOPAT CFOP Capital expense Working capital Add W. C Free Cash flow Payback Period Cost of capital NPV IRR MIRR CASH FLOW Year 1 Year 2 Year 3 Year 4 Year 5 717,100,000 932,230,000 1,118,676,000 1,174,609,800 1,233,340,290 691,496,000 769,920,800 840,877,960 874,759,858 910,431,851 25,604,000 162,309,200 277,798,040 299,849,942 322,908,439 29,700,000 29,700,000 29,700,000 29,700,000 29,700,000 (4,096,000) 132,609,200 248,098,040 270,149,942 293,208,439 0. 72 0. 72 0. 72 0. 72 0. 72 (4,096,000) 95,478,624 178,630,589 194,507,958 211,110,076 25,604,000 125,178,624 208,330,589 224,207,958 240,810,076 (148,500,000) (45,000,000) (193,500,000) 2. 5 15. 30% 277,726,609 54% 30. 39% (45,000,000) 25,604,000 (58,500,000) (13,500,000) 111,678,624 (70,200,000) (11,700,000) 196,630,589 (73,710,000) (3,510,000) 220,697,958 (77,395,500) (3,685,500) 314,520,076 The Payback Period is: Conclusion: 1. 2. 3. 4. The project completely has the ability of reaching the break-even point from the first year. Payback period is nearly 2. 5 years, a very appropriate period in the whole process of 5 years. NPV is a positive numbers and IRR is at 54%, much more higher than the cost of capital. MIRR is at 30. 39%, a high figure. ? Although the initial investment is quite small, all the figures above have proved that this project is profitable and promises to bring high profit. Reference: Fundamental of corporate financial Book Vatgia. vn Kitchenart. wordpress. com Nguyenkim. vn â€Å"Special thank to Ms. Pham Lien Ha to helps us to do this project† How to cite Fin 202- Group Assignment, Papers Fin 202- Group Assignment Free Essays â€Å" p c l h n t Ms h m Le H S ei t a k o . a i a a P n frh ligu t d t i po c† o e n s o o hs rj t p e Table of content: Excutive Summary: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. We will write a custom essay sample on Fin 202- Group Assignment or any similar topic only for you Order Now P. 3 Business Plan:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 3 Vision:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 3 Main Services:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦P. 3 Evaluating the market:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 4 Financial Plan:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 5 Initial Investment:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 5 Interest Payment:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦P. 6 Wages Payment: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦P. 6 Variable cost:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 7 Fixed cost per year for Selling and Admin activities:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 7 Expected number of customers:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 7 Total expense:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 8 Price of each services:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦P. 8 Revenue Plan:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ P. Profit Loss Plan:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 9 Break even for each year:†¦Ã¢â‚¬ ¦P. 9 Cash flow Analysis:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 10 Conclusion:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 10 Reference:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 11 Excutive summary: In order to bring customers a new service, especially for the female customers, our group decided to bring a new project- call Cake Paradise. Nowadays, need of making a handmade cake or chocolate of female customers for their lovers, friends or families is very high but not everyone has enough money to buy for herself an expensive oven or cake cooking tools. Our project is created to solve this problems. We provide a service for customer to hire our kitchen with full machines tools of cake cooking to made a cake or chocolate. We also provides ingridiants in Shop of cake ingridients in 1st floor and Class of learning how to make a cake 2 times/week. With this advantages and professional of this service, we believe we will achieve the highest expectation from customer. To be the first company provide service in hiring Cake making machines and Tools, Cake paradise have high grow rate and fullfill the need of customers about the cake making-which means profitable and deserve to be invested. Business plan: Vision: Customers Focus High quality services Grown up by 100% in the first 5 years Making profits since 2nd or 3rd year operating Main Services: 1st Floor: Shop of Cake ‘ingridientswhere you can find any kinds of cake ingridients and tools. 2nd 3rd Floor: Cake paradise’s Kitchen – for hiring with fullfill cake making ‘s equipment and tools. It is call DIY service- With VND120,000 for 3 hours, you will have full of cake making equipment and tools to make your ideal cake for your lovers. Every Friday and Sunday, we have classes of making cake, which are teached by cookers who are very experienced in making cakes- With VND400,000 for a 4-hour class, you will learn to make 3 kinds of delicious cakes or chocolate in the world, it is a best price for any learners. Evaluating Market: Instead of going to a cake shop and buy for the lovers or family, friends a cake, recently, many girls and women want to make for her relatives a cake by herself. This gift is unique and more meaningful to her relatives and in other way, it prove the womenliness and caringful of who made it. It now creates a trend not only in making cake but also in making handmade stuffs. We notice that there is a lack for cake handmade market. We can easily find handmake ‘s materitals and tools in the market as paper, stuff,†¦.. with a quite cheap price. But in making cake, the ingridients, especially the cake making equipments are very expensive. Not everyone has enough money to buy for herself a expensive oven or cooking tools. When in the market, there are many suppliers provides for other handmade things but there aren’t a supplier which provide hiring cake making machine tools although the demand of it is very high. Seeing this, our group decided to bring Cake paradise service to customer. Financial Plan: Innital Investment: We plan the project will be implemented in 5 years For the long-term assets, time for full depreciation is 5 years. No. Tool Equipment Capital Expense 1st Floor -Shop for Cake’s ingridients Good shelf Refrigerator Table Electronic Cash Regristor Cost of Installment Decoration 2nd 3rd Floor- Place for DIY and Learning Kitchen cupboard Oven Refrigerator Hand-mixer Blender Gas cooker Fan Table Cost of Installment Decoration 4th Floor -Office Destop PC Phones Printer Office Table and chairs Cost of Installment Decoration Working capital for the zero year Uniform for Staff Training course for staff Tools for the kitchen Tools for the office Cash INITAL INVESTMENT Quantity Cost per Unit Total Cost 148,500,000 17,800,000 4,800,000 3,500,000 1,000,000 3,500,000 5,000,000 99,900,000 30,000,000 18,000,000 26,000,000 2,800,000 1,100,000 4,000,000 4,000,000 4,000,000 10,000,000 30,800,000 20,000,000 800,000 3,000,000 5,000,000 2,000,000 45,000,000 2,000,000 3,000,000 5,000,000 5,000,000 30,000,000 193,500,000 29,700,000 1 1 1 600,000 3,500,000 1,000,000 3,500,000 5,000,000 15,000,000 3,000,000 13,000,000 700,000 550,000 2,000,000 1,000,000 1,000,000 10,000,000 10,000,000 800,000 3,000,000 1,000,000 2,000,000 200,000 500,000 TOTAL DEPRECITAION 2 6 2 4 2 2 4 4 2 1 1 5 10 6 Interest Payment: Year Quarter 1 I II III IV 2 I II III IV 3 I II III IV 4 I II III IV 5 I II III IV INTEREST PAYMENTS (VND) Beginning Balance Principal Payment Interest Payment Total Payment Total Payment/Year Ending Balance 80,000,000 4,000,000 2,400,000 6,400,000 24,880,000 76,000,000 76,000,000 4,000,000 2,280,000 6,280,000 72,000,000 72,000,000 4,000,000 2,160,000 6,160,000 68,000,000 68,000,000 4,000,000 2,040,000 6,040,000 64,000,000 64,000,000 4,000,000 1,920,000 5,920,000 22,960,000 60,000,000 60,000,000 4,000,000 1,800,000 5,800,000 56,000,000 56,000,000 4,000,000 1,680,000 5,680,000 52,000,000 52,000,000 4,000,000 1,560,000 5,560,000 48,000,000 48,000,000 4,000,000 1,440,000 5,440,000 21,040,000 44,000,000 44,000,000 4,000,000 1,320,000 5,320,000 40,000,000 40,000,000 4,000,000 1,200,000 5,200,000 36,000,000 36,000,000 4,000,000 1,080,000 5,080,000 32,000,000 32,000,000 4,000,000 960,000 4,960,000 19,120,000 28,000,000 28,000,000 4,000,000 840,000 4,840,000 24,000,000 24,000,000 4,000,000 720,000 4,720,000 20,000,000 20,000,000 4,000,000 600,000 4,600,000 16,000,00 0 16,000,000 4,000,000 480,000 4,480,000 17,200,000 12,000,000 12,000,000 4,000,000 360,000 4,360,000 8,000,000 8,000,000 4,000,000 240,000 4,240,000 4,000,000 4,000,000 4,000,000 120,000 4,120,000 Notes: Debt of VND80,000,000 from bank, maturity of 5 years, interest rate 12% Interest is paid in from the first month, principal payment is incurred once a quarter Wages payment: Job title 1 Director 2 Secretary 3 Accountant 4 Sales Assistant 5 Cooking teacher 6 Securities Total Quantity 1 1 1 6 2 2 WAGE PAYMENTS (VND) Year 1 Year 2 72,000,000 75,600,000 42,000,000 44,100,000 48,000,000 50,400,000 144,000,000 151,200,000 96,000,000 100,800,000 48,000,000 50,400,000 450,000,000 472,500,000 Year 3 79,380,000 46,305,000 52,920,000 158,760,000 105,840,000 52,920,000 496,125,000 Year 4 83,349,000 48,620,250 55,566,000 166,698,000 111,132,000 55,566,000 520,931,250 Year 5 87,516,450 51,051,263 58,344,300 175,032,900 116,688,600 58,344,300 546,977,813 Notes: 1. Wages of Director, Secretary, Accountant, Sales Assistant, Securities are included in Selling and Admin Fixed expense each year 2. Wages of cooking teacher is included as Direct Labor for Learning Services 3. Wages growth rate is 5% each year Variable cost: We have three services in this project, in general, to estimate the variable cost, we estimate the variable cost beyond the number of customers we service. Services Included Shopping DIY Learning Bag Tool packgage 1 Tools package 2 Ingridients Using CP’s kitchen Using CP’s tools Teacher Services Included Bag Tool package 1 Tool package 2 Ingridients Using CP’s kitchen (gas, water, electricity cost,†¦) Using CP’s kitchen ‘s tools Teacher Total VARIABLE COST PER CUSTOMER Shopping DIY 500 3,500 Learning 500 3,500 15,000 3,000 10,000 500 3,500 15,000 50,000 3,000 10,000 50,000 132,000 4,000 32,000 Fixed cost per year for Selling and Admin activities: FIXED COST PER YEAR FOR ADMINSTRATIVE SELLING ACTIVITIES Detail Per month Per year Internet bill 250,000 3,000,000 Electricity bill 1,500,000 18,000,000 Water bill 200,000 2,400,000 Phoning bill 200,000 2,400,000 Advertising exp 6,000,000 Other exp 1,000,000 12,000,000 43,800,000 Expected number of customers: year 1 Shopping DIY Learning Total EXPECTED NUMBER OF CUSTOMER year 2 year 3 year 4 3500 4550 5460 2920 3796 4555 768 998 1198. 1 7,188 9,344 11,213 year 5 5733 4783 1258 11,774 6020 5022 1321 12,363 We assume that because this is a new services which haven’t existed in the market so it will have a numerous of customers The growth rate will be 30%, 10% and 5% for the year of 2, 3, 4 and 5 respectively , after the services enter the market. Total expense: Year 0 Total Variable costs Shopping DIY Learning Total Fixed costs Wages Depreciation House Renting Fixed cost of selling and admin Intersest payment Total cost TOTAL EXPENSE Year 1 Year 2 Year 3 Year 4 Year 5 208,816,000 271,460,800 325,752,960 342,040,608 14,000,000 18,200,000 21,840,000 22,932,000 93,440,000 121,472,000 145,766,400 153,054,720 101,376,000 131,788,800 158,146,560 166,053,888 512,380,000 354,000,000 29,700,000 60,000,000 43,800,000 24,880,000 721,196,000 528,160,000 371,700,000 29,700,000 60,000,000 43,800,000 22,960,000 799,620,800 544,825,000 390,285,000 29,700,000 60,000,000 43,800,000 21,040,000 870,577,960 562,419,250 409,799,250 29,700,000 60,000,000 43,800,000 19,120,000 904,459,858 359,142,638 24,078,600 160,707,456 174,356,582 580,989,213 430,289,213 29,700,000 60,000,000 43,800,000 17,200,000 940,131,851 Price of each services: Customer Year 1 Shopping DIY Learning Year 2 Shopping DIY Learning Year 3 Shopping DIY Learning Year 4 Shopping DIY Learning Year 5 Shopping DIY Learning 3,500 2,920 768 4,550 3,796 998 5,460 4,555 1,198 5,733 4,783 1,258 6,020 5,022 1,321 Variable Cost 14,000,000 93,440,000 101,376,000 18,200,000 121,472,000 131,788,800 21,840,000 145,766,400 158,146,560 22,932,000 153,054,720 166,053,888 24,078,600 160,707,456 174,356,582 Fixed cost Toatal cost Cost per customer Average cost in 5 year 512,380,000 51,238,000 65,238,000 18,639 15,138 230,571,000 324,011,000 110,963 92,074 230,571,000 331,947,000 432,223 360,406 528,160,000 52,816,000 71,016,000 15,608 237,672,000 359,144,000 94,611 237,672,000 369,460,800 370,053 544,825,000 54,482,500 76,322,500 13,978 245,171,250 390,937,650 85,822 245,171,250 403,317,810 336,637 562,419,250 56,241,925 79,173,925 13,810 253,088,663 406,143,383 84,915 253,088,663 419,142,551 333,186 580,989,213 58,098,921 82,177,521 13,652 261,445,146 422,152,602 84 ,059 261,445,146 435,801,728 329,932 Shopping DIY Learning Original Cost plus 1% Final Price Note: We calculate the total cost of a service and base on it to estimate the price 15,289 17,000 For the Shopping services, the price is the average profit we gain from each shopping bill 92,995 120,000Assume that the shop don’t have inventory because the goods are directly taken from agent 364,010 400,000 Revenue Plan: Year 0 Shopping Customer Profit/bill DIY Customer Price Learning Customer Price Total Growth rate of revenue (%) Year 1 EXPECTED REVENUE Year 2 Year 3 Year 4 Year 5 59,500,000 77,350,000 92,820,000 97,461,000 102,334,050 3,500 4,550 5,460 5,733 6,020 17,000 17,000 17,000 17,000 17,000 350,400,000 455,520,000 546,624,000 573,955,200 602,652,960 2,920 3,796 4,555 4,783 5,022 120,000 120,000 120,000 120,000 120,000 307,200,000 399,360,000 479,232,000 503,193,600 528,353,280 768 998 1,198 1,258 1,321 400,000 400,000 400,000 400,000 400,000 717,100,000 932,230,000 1,118,676,000 1,174,609,800 1,233,340,290 30 20 5 5 Because this is a completely new services, so after the first year, the number of customers increase sharply in the 2nd and 3rd year, but in the 4th and 5th year when Cake paradise (C has the competitor, ( who enter the market to join this segment), the growth rate of CP increase slightly at 5%. Profit Loss Plan: Year 1 Revenue Variable Cost Contribute Margin Fixed Cost Earning before Tax Tax Earning after tax PROFIT AND LOSS PLAN Year 2 Year 3 Year 4 Year 5 717,100,000 932,230,000 1,118,676,000 1,174,609,800 1,233,340,290 208,816,000 271,460,800 325,752,960 342,040,608 359,142,638 508,284,000 660,769,200 792,923,040 832,569,192 874,197,652 512,380,000 528,160,000 544,825,000 562,419,250 580,989,213 (4,096,000) 132,609,200 248,098,040 270,149,942 293,208,439 28% 28% 28% 28% 28% (4,096,000) 95,478,624 178,630,589 194,507,958 211,110,076 We can see that in the first year, because this is a new service and it needs time for the customers to know and have the habit to use this service, so the earning after tax for the first year is negative. After the first year,the number of customers who know and use Cake Paradise service increase (beyond word of mouth), the earning after tax for the 2nd, 3rd, 4th, 5th increase sharply. Break even for each year: Year 1 CM CM unit CM Ratio Break even point Break even revenue Safety of margin 508,284,000 70712. 9 0. 7088 7,246 722,878,741 (5,778,741) BREAK EVEN Year 2 Year 3 Year 4 Year 5 660,769,200 792,923,040 832,569,192 874,197,652 70712. 9 70712. 9 70712. 9 70712. 9 0. 7088 0. 7088 0. 7088 0. 7088 7,469 7,705 7,954 8,216 745,141,567 768,652,973 793,475,388 819,674,364 187,088,433 350,023,027 381,134,412 413,665,926 Cash flow: We have, cost of capital was calculated by WACC assumption: ( ( ) ) Year 0 Revenue Operating Expense EBITDA DA EBIT (1- Tax) NOPAT CFOP Capital expense Working capital Add W. C Free Cash flow Payback Period Cost of capital NPV IRR MIRR CASH FLOW Year 1 Year 2 Year 3 Year 4 Year 5 717,100,000 932,230,000 1,118,676,000 1,174,609,800 1,233,340,290 691,496,000 769,920,800 840,877,960 874,759,858 910,431,851 25,604,000 162,309,200 277,798,040 299,849,942 322,908,439 29,700,000 29,700,000 29,700,000 29,700,000 29,700,000 (4,096,000) 132,609,200 248,098,040 270,149,942 293,208,439 0. 72 0. 72 0. 72 0. 72 0. 72 (4,096,000) 95,478,624 178,630,589 194,507,958 211,110,076 25,604,000 125,178,624 208,330,589 224,207,958 240,810,076 (148,500,000) (45,000,000) (193,500,000) 2. 5 15. 30% 277,726,609 54% 30. 39% (45,000,000) 25,604,000 (58,500,000) (13,500,000) 111,678,624 (70,200,000) (11,700,000) 196,630,589 (73,710,000) (3,510,000) 220,697,958 (77,395,500) (3,685,500) 314,520,076 The Payback Period is: Conclusion: 1. 2. 3. 4. The project completely has the ability of reaching the break-even point from the first year. Payback period is nearly 2. 5 years, a very appropriate period in the whole process of 5 years. NPV is a positive numbers and IRR is at 54%, much more higher than the cost of capital. MIRR is at 30. 39%, a high figure. ? Although the initial investment is quite small, all the figures above have proved that this project is profitable and promises to bring high profit. Reference: Fundamental of corporate financial Book Vatgia. vn Kitchenart. wordpress. com Nguyenkim. vn â€Å"Special thank to Ms. Pham Lien Ha to helps us to do this project† How to cite Fin 202- Group Assignment, Essay examples

Robotic Process Relating to Accountings-Free-Samples for Students

Question: Discuss about the Robotic Process Relating to Accountings. Answer: Introduction The robotic process automation has taken a wave and is emerging as one of the fastest growing technologies in the digital arena. It is expected to replace the human effort in the accounting process and and is one of the types of technology on clerical process automation based on the concept of software based robotic systems and artificial intelligence. But, every new technology has both the positive and the negative attributes much like every coin has 2 sides(Visinescu, Jones, Sidorova, 2017). Though the robots will be process driven and will increase the level of accuracy, the speed, the efficiency and will surely improve the level of compliance of the accounting process but the question is will it be able to mitigate all the risks and challenges which we often see in the day to day accounting operations. Even though articficial intelligence has developed a great deal in the last couple of years, but it can never replace the human because of the lack of emotions, empathy and the la ck of motivation and intuition while making the business decisions. There are many such questions which needs to be answered which forms the base of this thesis(Washington, DC: U.S. Patent and Trademark Office. Patent No. U.S. Patent No. 9,555,544., 2017). Furthermore, the objective and the rational of this study is to fid the rationality of the introduction of robotics automation process in accounting system and how far is it sustainable in the modern accounting theory which asks for decision making in complex real life situations which need to investigate from various aspects and then to conclude based on the business and IFRS requirements. It can be said that this process is a replica of the human behaviour which is interacting with the user interface of the computer. In case, this is introduced, it will be a significant shift from the traditional forms of IT integration(Visinescu, Jones, Sidorova, 2017). This has been existing for a long period of time now in the form of screen scraping but the same has now emerged into more resilient, mature, reliance and scalable level which makes the large enterprise to believe and rely on it. Reasearch objective and research questions There are innumerable number of questions which needs to be answered in this aspect the most critical of which are mentioned below. The major objective of the study is to find out the viability of the technology looking at the pros and cons of RPA. The entire concept of RPA is based on the viualization which makes of the virtual network to execute the operations in the backend based on the user screen selection. It will therefore lead to a huge variety of costs, which needs to be seen by organizations whether the same be taken forward or not(Davis, 2017). The second question is the agility and the fact that RPA will be a robot which will run not based on the coding structure unlike the softwares but much like the virtual worker who can be paidly trained in the same way as human trains human. This is to be done using artificial intelligence. Ther efore it now needs to be checked that whether it will be able to repond in the same manner as human and in case any new situation arises, what will be its implication and how the same can be taken forward(Willcocks, Lacity, Craig, 2017). The other critical question in this aspect is the acceptance by the large organization or whether the same will be non disruptive as most of the IT technologies come with a lot of change and disturb te underlying computer systems in the organization. Because of this, they are reluctant to redesign or replace the existing systems(Belton, 2017). Therefore, the objective and the philosophy of the RPA is to avoid the risk and complexity of such kind of changes and to keep it restricted to light iT requirements. It is built on the platform that requires the user ID and password much like the human user which is very important from the security and integrity aspect. But even this is not enough from the security point of view and can be breached easily because of which extensive checking and testing of the systems is required. RPA doesnt needs extensive IT skills or technical support and has an ease of service which makes it possible to be used in business operational areas rather than the information technology departments. Therefore, it needs to be seen whether it has a business case based on the platform used and investment made. One of the other major objective of study is its impact on the society. One of the studies shows that it is to bring new wave of efficiency and effectiveness in the global labour market. Not all, but 35% of the total accounting jobs may be automated and regularised by 2035 as per the Oxford University. Renowned enreprenur in one of TED Talks stated that the introduction of the RPA model in the labour market will somewhat revolutionse the cost of the services industry and bring down the costs heavily, driving up the topline and the bottomline of the company. It will also improve the quality of the services rendered and will offer increased opportunity to the. Thus, it now needs to be seen whether the cost benefit analysis is on the proitive or negative end. One of the other author stated that this will lead to greater levels of job satisfaction and intellectual growth as it will bring out the robot out of humans so that the mundane and repeatative jobs van be performed by the robots w hereas more critical and meaning interpersonal roles can be managed by the humans(Willcocks L. P., 2017). The major questions to be resolved in this category include is the OCR Optical character recognition (handwritten) which is still a major problem to be resolved as a lot of companies are doing things on the paper. This is one of the huge problems which is being taken up with a number of companies. Similarly, image recognition is also one of the issues wher the computer is not able to read through the charts and diagrams. The appropriate technology is just now available now. The other question which adds to the preference towards RPA is the direct operation of the work and information upload in the cloud environment (Alexander, 2016). Multiple users can operate at a time from different destinations working on the same data using a single secure device. But the question here is how safe the conncetion is and how can be it relied that the data will not be lost and will not be overwritten or there will be a trail of the work in the system in the automated version. The other most important question here now is that can the robotics process automation minimise the risks and help in detecting and avoiding the frauds. The question is open as both the positive and negative aspects can be derived out of it. It very much minimises the risk by removing the inefficiencies, the human error element being a software tool and artificial intelligence driven tool. But, the risk equally increase in case the fraud has been commiteed before the transaction or accounting entry gets into the system. It is very difficult and nearly impossible for RPA to apply logics and rationale to identify the frauds and errors in the accounts and to correct the same. Hence, it results in further wrong accounting and complete mismatch and thereby increasing the risk(Kokina Davenport, 2017). Therefore, the to avoid the same, it is a must that the human needs to review and have a final check to ensure that the frauds are detected at the right time and thus corrected immediately a s RPA will be having a check only on the arithematical accuracy and the logical checks as fed in the system. The final question here is will robo accountants be able to replace the actual accountants or will thye ever be able to set up and take the same competency levels as that of the human beings. The answer to this question is a straight no as there will always be a gap in terms of the decision making and IQ issue (Pape, 2017). The grit, the risk, the agility with which a human can make the decision and help the business depending on the case and based on the time period required, the current set of RPA does not has the expertise to attain it. The RPA is just meant for some routine jobs which are process driven and away from fluctuations, whereas with humans, the change is permanent and there can be immense number of scenarios that can be developed. In short, it can be said that if human is a set, RPAs are the subsets which will ultimately have to have the human intervention. There are many such questions which need to be answered before the RPAs are being accepted universally across the companies and around the globe. But, all these questions can be answered and can be mitigated thus enabling the implementation of RPAs (Bromwich Scapens, 2016). There will be risks, there will be issues which are unforeseen during the tests, there may be scenarios which may not have been tested or even havent cropped up but all of it can only be tested, corrected and given effect to only when the step to implement it is taken forward. All the above mentioned questions and queries have been answered below in the literature review through a number of case studies and research. Literature Review As per the study by the Haward Business Review, most of the companies promised their employees that the process automation and the introduction of the robotics in the accounting division would not result in the lay off of the employees and thay they wold be redeployed to some complex and interesting work. One of the academic studies shows that instead of opposing this change as is generally done by the people in the organization to a modern paradigm shift, they embraced it and were not threatened. They instead embraced and accepted it whole heartedly viewing the robots as virtual team mates(Anginer Kunt, 2014). It further found that instead of reducing the worforce, the companies focused omn achieveing more work and greater productivity using the same no. of people and with improved technology. Whereas, they was one another group of analysts which consider this to be the threat to the business process outsourcing industry. As per this study, this will enable the company to make use of the technology to shift the processes from offshore location to the local data ecnters and retain the higky skilled process designers and replace the low skilled offshore workers. Thus, it still remains one of the important topics of debate and argument(Messinger, Rogers, Hawker, 2017). The future of RPA is still subject to a lot of discussions as the first movers take a lot of uses and derive manifold synergies out of it. It might be that the BPM and RPA tools are being converged much in the same way as BPM and workflow tool s are being seen into. The Pegasystems acquired OpenSpam in 2016 can be seen as one such step in the process. Some another study by the research analysts hints towards greater adoption of the artificial intelligence units in the RPA process so that informed and greater decision making cane be enabled and inferencing can be done. Process automation is the need of the hour and the rule based algorithms without compromising the IT infrastructure can expedite the back office processes in departments like finance, marketing, Human resources, audit , procurement , customer service, supply chain management, accounting including data entry jobs, creation of online access passwords, etc(Elimam, 2017). Also, RPAs can answer the basic queries to customer and employees in the natural language rather than in software codes, will be organizational specific with superior scalability and will have tailored replies to specific needs. Software robots can be trained easily and can be seamlessly deployed in the system. It can also prove to be handy in the voluminous and high transactional tasks as it can increase the speed and complete it in a fraction of seconds. Robots have the history of being involved in powerful analytical tools or results. It provides useful insights in the current business processes. All the activities done through it can be properly logged and interpreted using a reporting tool. Thus, it can help in achieveing greater compliance and improved governance too(Varghese, 2017). Besides providing the return of 30% to 200% in the long run in the last 12 months to the companies using the RPA, it has also been able to give the returns to the bottomline and contrasting the employees have shown increasing job satisfaction in terms of the quality of work allotted to them. Besides this it is also expected that the CAGR growth will be around 60.5% between the year 2017 and 2020. Although the entire idea of automating the processes is counted or categorized as business as usual, businesses are finding it easy to implement and learn as the ICT involvement is very low in this case(Gartland, 2017). The main reason being RPA only needs to address the requirements of the presentation layer and not define the business logics or data access layer in the underlying system(Lu, Li, Chen, Kim, Serikawa, 2017). The only disadvantage of using RPA and those opposing the introduction of RPA in the work space are of the belief that RPA would never be able to give accuracy and decision making and would never be able to mimic the human in terms of emotional intelligence, judgement, logical reasoning and customer interaction (Knechel Salterio, 2016). Technically speaking, this RPA work needs to be overall reviewed by the human employee before giving it a final go ahead. Furthermore, setting up the first step in automation through RPA might land up the businesses in the unexpected debts. Since the business are expected to change as per the environment, RPAs are also expected to change and get updated every now and then. In case this is being done, so overall we are maintaining the ICT environment at two different places. This means that the introduction of the RPA is not actually reducing the workload but increasing the workload and human requirement. Thus, RPAs is just a first step to the giant g oal of automation or implementation of the artificial intelligence as it can thus handle clear and non negotiable requirement at the best. Looking at the final pros and cons after the views from the experts, discussion on the topics at forums, primary and secondary data collection, following are the major advantages or the positive sides to it: It increase and improves the efficiency of the employee and enhances the speed at which the work may be executed. It helps the employees to stay motivated all throughout as they will be getting the final review work and more quality work as compared to the repeatative and mundane tasks. Hence, this will increase productivity(Laursen Thorlund, 2016). It can assist manifold in minimising the human error that can sometimes prove to be costly. This risk is fully negotiated and eliminated and accuracy is ensured. It can help in cost savings for the company in terms of increased productivity, low errors, and less manpower cost. Lower turnover ratio of employees thus helping in employee retention. The cons or the negatives points which crop out against the use of RPAs are: This will lead to increase in one time cost for the implementation of the RPAs, due to businesses are apprehensive of implementing it since the technology is changing, there may be further changes in future and the fear of this being obsolete is one of the major obstacle. Many are of the view that the implementation and the operation of the robotic process automation needs a lot of technical expertise due to which many are not being able to reap the significant benefits out of it(Rodriguez Kaczmarek, 2016). Since this is a major change and a completely new tool altogether, many fear that if gone wrong, it may lead to major reconciliation issues and thus disrupt the entire business processes. Another reason of resistance to use RPA is the concern that this may replace human workers when these RPAs are actually supposed to support humans in the workplace. All these hindrances are actually not the diadvantages but the fear of change in process and lack of understanding. This obstacles can easily be converted into opportunities with proper planning and control. Few companies have already implemented some forms of the RPAs in their businesses like Nestle, Bacardi, Ferroro and Unilever, etc in the customer automation management and supply chain management processes(Kewell Linsley, 2017). The potential benefits of the RPA and BPO side by side in a particular business can be seen in the above figure where in a Purely BPO interaction a company outsources its work to other KPO or company having the cost saving of 15% to 40% in 5 years alongwith reduction in business risk, increased transparency, improved customer satisfaction and other intangible benefits. On the contrary, the cost savings in case of RPA is extended to 10% to 65% as per the survey carried out by The National Association of Software and Services Companies (NASSCOM), within a period of 6-9 months. Other benefits accrued include the RPA can be set up within the business or it can be partnered with some other business services, it provides scalability, quality, accuracy and speed(Dai Vasarhelyi, 2017). The third case is a classic scenario where the RPO is set within a BPO since the nature of work of the BPO is on same grounds. In this model, the potential cost saving will be 50% to 95% as per The National A ssociation of Software and Services Companies (NASSCOM). RPA in BPO is a boon and adopts more often than not predictive approach and end to end integration and helps in developing an output and outcome based model. In this model, all the routine activities can be done through RPA and other decisive tasks can be done through BPO human workforce, thus helping in minimising error. Thus, all in all, entire list of questions have been answered and more or less, it is on the positive end and it looks that the future is of RPAs and they are set to replace the routine manual tasks of the people aiming to increase their productivity. It is also aimed at increasing the monitoring activity and tracking the deviations if any, thus helping in improving the reporting of the company(Vollmer, 2017). Research Methods There have been wide studies on the topic of Robotic Process Automation but the same has been wide school of thoughts coming from people all around the world and experts. There were different methods of research applied in order to prepare this thesis and to come to the conclusion. This include both the collection and analysis of the primary as well as secondary data points. Primary data includes asking of a list of questions mentioned above from a number of persons and capturing their view based on some rationale and the logics. Further more, the primary data collection also include the 1st hand experience of the service industries and particularly the IT industries which are discovering many things in the digital space every now and then. They are venturing into advanced artificial intelligence by the use of many means and are trying to built the infrastructure to support the same. The impact of RPA is so much so that it has the ability to replace 3 worker at the time. In less than 1 year of experimentation cycle, most of the companies have had a positive return on investment and further the cost reductions has been to the tune of 20% (Maynard, 2017). The reaserch was also done through the companies which have already implemented it in some or the other way like Nestle and Unilever, who have also reported in the annual report of the company and the benefits derived out of it. It has been reported that the cost is very less as compared to the benefit derived out of it. Further more, it is expected that many other MNCs are going to implement the same in the shared service centres in collaboration with the BPOs by the end of 2020 economising the benefits derived out of it (Kohtamki, 2017). The secondary data point includes comparison of the cost benefit analysis of the RPA with the business process outsourcing centres which again are trying to reduce the costs by implementing this for all the routine tasks. Also, it included the excerpts from the research analysts and other business experts who have commented on both the pros and cons of the RPAs in the coming future. They have also tried to highlight the opportunities available and the lack of acceptance to change and learn new things as the reason for opposing it(Bygstad Iden, 2017). Conclusion As per the above study and comments and views by the research analysts, it can be fairly concluded that the field of Robotic Automation Process is one that is still under research and development and a fairly good amount of work needs to be done before it can be seen in a full fledged manner. However, considering the benefits it has got, it is sure to be introduced in almost every business and company in the coming 10 years or so. With every change, comes some resistance on account of the risks embedded in the opportunity but in case the risk can be mitigated well, the same can be utilised in a manifold way. Leveraging through RPA is a next big step in the accounting arena and a lot of industries have already introduced it. With this, they aim to optimise the cost, increase the productivity, efficiency and effectivity and shift the operations from offshore to onshore and thus, freezing up of resources. The above table is evident of the Robotic Process Automation opportunity market. This helps in concluding fairly that the RBA is helping inalmost every industry with the specific requirements like card activation and fraud claims recovery in case of banks and financial institutions, bill of material generation in the manufacturing entity, claim processing and business case preparation in case of insurance companies, reports automation and system reconciliation in case of health care industries (Arnott, Lizama, Song, 2017). Moreover, besides all this, RPA is something which can handle few of the critical and time taking activities in almost any industry like the vendor and customer reconciliation, bank reconciliation, general ledger accounting, invoice processing once the approval to process the order has been made in the system. It can also manage the entire process of requisition to purchase order which is time taking and takes a lot of manual effort and help the human resource fun ction in hiring, payroll management and candidate management. Thus, all in all , it can be said that we can see a lot of activities being a part of the automation process through RPAs beingused extensively and accountants being left for other critical and significant projections, reporting and decision making tasks(Chelliah Chelliah, 2017) References Alexander, F. (2016). The Changing Face of Accountability. The Journal of Higher Education, 71(4), 411-431. Anginer, D., Kunt, A. (2014). Has the global banking system become more fragile over time? Journal of Financial Stability, 13, 202-213. Arnott, D., Lizama, F., Song, Y. (2017). Patterns of business intelligence systems use in organizations. Decision Support Systems, 97, 58-68. Bataller, C., Jacquot, A., Torres, S. R. (2017). Washington, DC: U.S. Patent and Trademark Office. Patent No. U.S. Patent No. 9,555,544. Belton, P. (2017). Competitive Strategy: Creating and Sustaining Superior Performance. London: Macat International ltd. Bromwich, M., Scapens, R. (2016). Management Accounting Research: 25 years on. Management Accounting Research, 31, 1-9. Bygstad, B., Iden, J. (2017, April). A Governance Model for Managing Lightweight IT. World Conference on Information Systems and Technologies, 384-393. Chelliah, J., Chelliah, J. (2017). Will artificial intelligence usurp white collar jobs? Human Resource Management International Digest, 25(3), 1-3. Dai, J., Vasarhelyi, M. A. (2017). Towards blockchain-based accounting and assurance. Journal of Information Systems. Davis, P. (2017). Value Investing: Do Quant Strategies Measure Up? Financial Analysts Journal, 1-172. Elimam, H. (2017). The Role of Small Businesses (Small Scale Economic Projects) in Alleviating the Acuity of Unemployment. International Business Research, 10(3). Gartland, D. (2017). The importance of audit planning. Journal Of Accountancy. Kewell, B., Linsley, P. (2017). Risk tools and risk technologies. The Routledge Companion to Accounting and Risk, 15. Knechel, W., Salterio, S. (2016). Auditing:Assurance and Risk (fourth ed.). New York: Routledge. Kohtamki, M. (2017). Real-time Strategy and Business Intelligence: Digitizing Practices and Systems. Finland: Palgrave Macmillan. Kokina, J., Davenport, T. H. (2017). The Emergence of Artificial Intelligence: How Automation is Changing Auditing. Journal of Emerging Technologies in Accounting. Laursen, G., Thorlund, J. (2016). Business Analytics for Managers: Taking Business Intelligence Beyond Reporting (Second ed.). CANADA: Wiley Publisher. Lu, H., Li, Y., Chen, M., Kim, H., Serikawa, S. (2017). Brain Intelligence: Go Beyond Artificial Intelligence. arXiv preprint arXiv:1706.01040. Maynard, J. (2017). Financial Accounting, Reporting, and Analysis (SECOND ed.). NewYork: Oxford University Press. Messinger, B. L., Rogers, D. N., Hawker, C. D. (2017). Use of Automation and Process Improvement to Achieve a Six Sigma Level of Nonanalytic Quality. The Journal of Applied Laboratory Medicine: An AACC Publication. Pape, T. (2017). Value of agreement in decision analysis: Concept, measures and application. Computers Operations Research, 80, 82-93. Rodriguez, J., Kaczmarek, P. (2016). Visualizing Financial Statements. Varghese, F. C. (2017). The Impact of Automation in IT Industry: Evidences from India. International Journal of Engineering Science, 5000. Visinescu, L., Jones, M., Sidorova, A. (2017). Improving Decision Quality: The Role of Business Intelligence. Journal of Computer Information Systems, 57(1), 58-66. Vollmer, S. (2017). How a CFO can become great. Journal of Accountancy, 36. Willcocks, L. P. (2017). Introduction. In Outsourcing and Offshoring Business Services. Cham: Palgrave Macmillan,. Willcocks, L., Lacity, M., Craig, A. (2017). Robotic process automation: strategic transformation lever for global business services? Journal of Information Technology Teaching Cases, 17-28.

How To Start A WordPress Travel Blog in 2019 (and Make Money)

Smitten by wanderlust? Want to see the world? Why not start a travel blog to share your experiences with others?Beyond it just plain being fun to write about your adventures, creating a travel blog  might even be able to help you make enough money to fund even more fun adventures.In this post, well give you a step-by-step tutorial for everything you need to do to start a travel blog. Beyond your awesome writing and pictures, these are the 5 things youll need to build your travel blog.Web hosting this is the engine that will power your travel blog and make it available to visitors around the world.Domain name your blogs permanent address. For example, ours is themeisle.com.The free WordPress software we highly recommend you use  self-hosted WordPress, located at wordpress.org. This is different than WordPress.com.A WordPress theme once you install WordPress, your theme controls how your travel blog looks.WordPress plugins plugins help you add functionality to your site withou t requiring any technical knowledge. Youll use them to add maps of where youve traveled, travel galleries, and more.Once we show you how to get those basics set up, well also share some tips for how you can create content, promote it, and maybe even make money from your blog.How to start a travel blog: step-by-stepHeres your step-by-step guide to start a travel blog:Step 1: Pick a nicheTheres a wide choice of travel blog niches to pick from specific country or area, backpacking, targeted audiences, luxury travel, traveling with kids or pets, and more.  Your chances of building a high traffic blog improve if you keep your focus on a few specific areas.Go with the one youre most passionate about because youre in this for the long haul!Step 2: Select a domain nameYour domain name should be simple and easy to remember.Using a brand name in the domain may not be an option for you when youre just starting off. So, you should do the next best thing, select a name which you can build int o a brand. Something thats short, easy to recall, and maybe a bit quirky. Keyword-based names are good too, though youll find that most are already taken up.You could even use your own name if youre going to maintain a highly personal style throughout your blog. Or, you can use part of your name in a brand e.g. nomadicmatt.com.We have some general tips for how to choose a domain name. And if youre really stuck, you can try using a blog name generator to come up with some ideas.Step 3: Purchase WordPress hosting and install WordPressYour hosting is important because it ensures your site loads quickly and is always available to your visitors. There are a ton of quality  WordPress hosting services, but a good starting point is SiteGround.In addition to always scoring well in our annual WordPress hosting survey, SiteGround:Is affordableGives you a setup wizard that installs WordPress for youMakes it easy purchase your domain nameHas awesome support if you ever need helpYou can choose the cheapest  StartUp plan to get started. Then, you just need to follow the simple signup process.Once you sign up, SiteGround will configure your domain name and install WordPress for youwhich means you officially have a working travel blog!Step 4: Choose a travel blog themeYour blogs  theme determines how it looks. Luckily, youll find a number of free and premium themes, many designed specifically for travel blogs.When you pick an existing travel blog theme, youll instantly get set up with a great-looking travel blog. To help you find such a theme, you can check out lists of the:Best free travel themesBest premium travel themesBeyond those lists, here are three specific options to get you started:Travel BlogThe TripSoledadFor example, the Soledad theme has:A travel template32 pre-made featured slider stylesStylish image galleries with lightboxPinterest and Twitter slider widgetAll these built-in features make it super simple to start a travel blog.To install your chosen them e, visit your WordPress dashboard and click  Appearance → Themes → Add New.Step 5: Install helpful plugins for travel blogsWordPress plugins help you add new functionality to your travel blog  without requiring any technical knowledge on your part. Theyre one of the things that makes WordPress so awesome. And pretty much every WordPress site makes good use of plugins.There are some must-have plugins for  all  sites, including travel blogs:SEO pluginsCaching pluginsSocial share button pluginsSecurity pluginsContact form pluginsBeyond those must-haves, youll also want some specific travel plugins. While this can vary depending on your focus area, here are some good ideas:A good photo gallery plugin such as  NextGEN Gallery  to share your travel pictures in a galleryPlugins to help integrate with Instagram and FacebookSlider plugins such as  Nivo Slider  to display amazing full-width photosA lightbox plugin such as  Simple Lightbox  to allow readers to view your photos in a customizable lightboxA map plugin to plot places and routes is a must-have when you want to start a travel blog. It helps to keep your readers stay engaged with you as you move from one place to another. Intergeo Maps plugin is available for free  (and as a premium plugin).  Interactive World Maps plugin is another fine optionPlugins like TravelPayouts help you add a travel booking capability to your blog. It helps your visitors find deals on flights and hotels to different locations while you earn a commissionLearn how to install WordPress plugins.Step 6: Create and add contentOnce youve set up your travel blogs foundation, youre ready to start adding content. To write blog posts in WordPress, go to  Posts Add New in your WordPress dashboard.From there, you can use the  Add Media button to insert images and the text editor to write and format your content:Step 7: Build your blogs audienceThere are a few channels you can use to grow your blogs traffic .With millions of active users, social media can help your content reach the right audience.  Adding Social media share buttons makes it easy for readers to share your content. Instagram and Pinterest are suitable platforms to promote your blog, and should form part of your social media strategy.Beyond that, you should also learn about SEO and topics like keyword research.Building an email list is another great way to grow a long-term audience.Step 8: How to make money from your travel blogOnce your starts to get some traffic, here are some ways that you can make money from your blog:Affiliate marketing: You can have affiliates for almost everything accommodation, insurance, travel gear, web hosting. Every time someone clicks on a link resulting in the purchase of an affiliates product, you earn a (small) commission.Google Adsense: Google generates ads relevant to travel on your blog. When visitors click on the offered ads, you earn revenuePremium content: You can sell digital gu ides for the places that youve visited to save other travelers time.Add a donation button: Obviously, this can work only when youve built up a dedicated readershipOffer personalized advice: Offer travel related advice for payment of a fee, or offer personalized or guided tours of specific places, or curate travel plansSponsored posts: Travel related businesses may pay you to write about them on your blog. Just make sure to be transparent.Sponsored trips: Tourism boards, private companies or brands can ask you to visit their places and write about it.Workshops: Accept offers to conduct travel-related workshopsWrapping upThat wraps up our guide. If you made it this far, congratulations on creating your own travel blog!Have any other questions about how to start a travel blog? Leave a comment and well try to help out. Here's how to start a travel #blog with #WordPress: Step-by-step

Essay on In the Time of the Butterflies Essays

Essay on In the Time of the Butterflies Essays Essay on In the Time of the Butterflies Paper Essay on In the Time of the Butterflies Paper Her Everlasting Faith Death is a word associated with loss, grief and sadness, but in the novel In the Time of the Butterflies we see death in a whole new perspective; martyrdom. Strong, independent, caring, honest, and having firm beliefs are all characteristics we see in a martyr especially in Patria. In the novel we explore the wonders of Julia Alvarezs writing and get to witness Patria as a martyr and an individual who fought for the right of women against a dictator: Trujillo. As an individual, Patrias personality can e best characterized as someone who firmly sticks to their beliefs and has faith in everything and everyone. Patrias drive to become someone notable after dealing with misfortune after misfortune makes Patria the strongest sister to die in In the Time of the Butterflies. Patrias personality can be better explained through this quote; From the [beginning] I felt it snug in my heart, the pearl of great price. No one had to tell me to believe in god or to love everything that lives I did automatically like a shoot inching its way towards the light (Alvarez 44). Patrias faith and belief in verything that [lives] makes her come off as being naive and blinded by her faith; because she believes god can do no wrong in the world along with Trujillo. Patrias caring nature for the people surrounding her shows a great deal of strength and confidence within herself, but even when she was born Patria lowered her arms the way you fold in a captive birds wings so it doesnt hurt itself trying to fly (Alvarez 44). This particular quote shows that [anyone] can have all the confidence in the world, but its what you do with that confidence that makes a difference. In this case when Patria lowers her arms back down (Alvarez 44) she is showing wavers in her strength; in spite of this protective move, Patria is still a strong person; Patria wouldnt be the person she is without the strength she had to keep building up following devastating tragedies. Even though Patria has a strong belief in god and Trujillo her faith is sometimes tested, because of others experiences with god and Trujillo. The moment I understood her hatred, my family had not been personally hurt by Trujillo Just as before losing my baby. Jesus had not taken anything away from me. There was the Perozos, not a man left in that family and Martinez Reyna and his wife murdered in their bed and thousands of Haitians murdered at the border. Making the river they say still red. I had heard but not believed. How could our all loving father let us suffer? I looked up challenging him and the two faces merged (Alvarez 53). Patria is exposed to the truth that Trujillo was not the god-like entity she perceived him to be. In Patrias mind there is no separation between god and Trujillo; they are one. Patria is finally coming face to face with the problems within the Dominican Republic. This revelation foreshadows how Patria will become involved with the regime and what part she might play. An ordinary person can be considered a martyr, but Patria Mirabal is anything, but an ordinary person. She is a fghter who is willing to risk anything and everything to make even the smallest of difference in the world. Martin Luther King Jr. , Abraham Lincoln, and Gandhi are all symbols of what a martyr is; someone who dies for a Patria is the ultimate martyr, because of whom she is as a person and in which the way she died. Coming down the mountain I was a changed woman. I may have worn the same sweet face, but now I was crying not Just my child but that dead boy as well. My stillborn of thirteen years ago, my murdered son of a few hours ago I cried all the way down that mountain. I looked out the spider-webbed window of that bullet- riddled car at brothers, sisters, sons, daughters, one and all, my human family. Then I tried looking up at our Father, but I couldnt see His Face for the dark smoke hiding the tops of those mountains. I made myself pray so I wouldnt cry. But my prayers sounded more like I was trying to pick a fght. Im not going to sit back and watch my babies die, Lord, even if thats what you in your great wisdom decides (Alvarez 162). Witnessing a death to such a young child can change a person in many ways and when Patria watches the young boy get shot down, something inside her is triggered. Faith is a key factor in this novel and comes into play when Patria realizes that shes Not going to sit back and watch my [babies] die, lord even if thats what you and your great wisdom decides (Alvarez 162). Patria is willing to go against everything she elieves is right to protect the people of the Dominican Republic, because there is no greater family then the one youVe suffered with and thrived with. Patria is fghting with every ounce of strength she has to make right what Trujillo has failed to do as their Dictator. The minute I walked into that room, I knew something had changed in the way the lord Jesus would be among us. No longer was there the liturgical chatter of how San Zenon had made the day sunny for a granddaughters wedding or how Santa Lucia had cured the cows pink-eye. That room was silent with the fury of venging angels sharpening their radiance before they strike (Alvarez 163). Entering the room Patria is almost hesitant, she wants to do whats right for herself and the society, but once she Joins the regime her [faith] will seem even to her non-existent. Patria is in disbelief at what is unraveling before her. l couldnt believe this was the same Padre de Jesus who several months back hadnt known his faith from his fear! But then again, here in that little room was the same Patria Mercedes who wouldnt have hurt a butterfly, shouting, Amen to the revolution. (Alvarez 163-164). People can change for the better or for the worse; Patria realizes this as she watches angry men and women ready to fght even at the cost of death. She finally understands that the people that where silenced by fear had endured enough, and what shocks her even more isnt the fact that they are going against their once beloved god, its that here she was saying Amen to the revol ution (Alvarez 164) standing before her sisters proud to say she is a part of something that can make the Dominican Republic a better place for her [family]. This is Patrias martyrdom to leave this world the way he had entered with; pride, strength, confidence, and faith not Just in god anymore, faith within herself that she made a change in the Dominican Republic. People may mourn the loss of a woman of Patrias caliber, but her death meant something not just to her family to the world and who can ask for a better reward than that? An ordinary person can be defined as a martyr, but it depends on what your definition of a martyr is. Strong, independent, caring, honest, and having firm beliefs are all characteristics we see in a martyr especially in Patria. A martyr usually has strong aith in beliefs and people. Faith can be defined as having complete trust or religion, based on spiritual apprehension rather than proof. Early In The Time Of The Butterflies by Julia Alvarez, we witness Patrias unwavering faith and belief that Trujillo and God are fully trusted and their power in her life is unquestioned, however as the story progresses, the faith Patria has in both Trujillo and God falters. Since the level of faith Patria has wavers and loses strength throughout the story, can we say that Patrias faith is really everlasting? Yes we can say that faith is everlasting, ut we can also say that everlasting faith does not necessarily mean it is a strong faith, it can be weaker. Also in In the Time of the Butterflies by Julia Alvarez, the blind trust Patria placed in God and Trujillo was doubted because she had more evidence that they should not be trusted without question; again does this mean that Patria no longer trusts these two powerful beings? No this Just means that her trust had diminished. Strong faith and trust in powerful entities can be everlasting, however the strength does not have to be strong or weak it Just has to be present.

Human resource management Research Paper Example | Topics and Well Written Essays - 1500 words

Human resource management - Research Paper Example Employees are essential assets to any organization that strives to achieve sustainable competitive advantage and organizational success. As such, the recruitment and selection process is vital in ensuring the right employees are hired for the right jobs as a wrong recruitment can break the company. Before beginning the recruitment process the human resource department should ensure a human resource plan is in place to avoid overstaffing or understaffing. The manager needs to monitor progress and evaluate performance so as to recognize areas of weaknesses or strengths and put corrective measures such as training.From the job analysis a job description and job specification is developed which is essential for preparing a recruitment plan and selection strategy. The aim of this paper is to find a replacement for an employee who has been promoted to the next management level, evaluate his/her performance and determine pay and training needs. To achieve this, various activities will be pe rformed. First is to carry out a job analysis and develop a job description. Secondly, is to develop a recruitment plan. Thirdly, selection strategy will be selected. Fourth is to determine how performance will be evaluated and how pay will be determined. Lastly, the paper will address training and development issues for professional growth of the selected candidate. The position that needs to be filled is that of a senior account as replacement of the manager promoted to chief financial officer. As such, the person will work directly under financial officer’s supervision. Job Analysis This is an in-depth study of the tasks and behaviors related to the position and form the foundation of HRM (Bohlander & Snell, 2010). It entails gathering information about the job by establishing the duties, tasks and activities of the job. However, predetermined steps are used to gather the information so as to ensure it is reliable and valid. This is due to the fact that an incorrect job an alysis affects all the other human resource functions as they derive from it (Mullins, 2010). It means a wrong job description and job specification which translates to recruiting the people who do not match the job. The information required can be gathered through observation, interviews, questionnaires and even secondary sources such as O*NET. Observation involves a job analyst observing an employee performing the task and recording the tasks, activities equipments and materials used. Analysts can also interview persons in the same positions or develop a questionnaire for them to fill indicating their job duties, purpose of the job, tasks, equipments and materials, special health and safety concerns, physical setting and requirements for performance such as skills, education and experience, physical and mental demands (Bohlander & Snell, 2010 p. 153-154). O*NET o the other hand, has already job descriptions of 23500 occupations. The aim of conducting job analysis is to understand the job and establish essential duties and responsibilities and behaviors required for performing the job. The essential competencies are those portrayed by high performers in the same role (Searle, 2003). The first step is thus to understand the job and the second step is identifying performance behaviors as outlined above. These behaviors are then used to identify and choose essential competencies which are arranged in order of importance as shown in figure 1. Essential competencies are those performed most of the time and also required when job starts as opposed to learning on the job. The fourth step is to determine how

Opera Report-Carmen(Bizet) Essay Example | Topics and Well Written Essays - 1000 words

Opera Report-Carmen(Bizet) - Essay Example The hall size was medium to large and has a capacity of holding 2,967 people plus has room for the orchestra pit and main stage. The theater had chandeliers and a set of fine arts accents making the event seem more formal. The audience followed through with the formal occasion and the atmosphere that was noted from the dresses worn included fancier and wealthy looking clothing. These combined aspects made the atmosphere serious and created a different setting for the event. The name of the liberettist was Nino Surguladze and plays the role of Carmen from the 1875 opera written by Bizette. The opera is set in Spain where Surguldaze plays a gypsy that smuggles items. The opposing voice is Richard Leech, who plays the tenor in the opera as Don Jose. There is also the part of Micaela, a soprano played by Talise Trevigne and which acts as the fiance of Don Jose. Wayne Tigges, the second tenor, plays the man in which Carmen falls in love with and which leads to her final tragedy. The perfo rmance forces that are associated with this include an orchestra. The opera program follows the main names of those who are in the opera as well as in the orchestra. The program is also inclusive of the main plot line and the concepts related to the performance. There is also a section for sponsors, donations and affiliations that are a part of the opera and which provided support for the presentation. ... However, the details of the performance and the various understandings of each of the musical pieces, despite translations being available, were difficult to follow because of the language differences and atmosphere of the theater. Before going to the performance, I didn’t read about the work or other information from an approved source. Most of the performance aspects were unfamiliar to me, such as what to expect, how the opera would be, what the setting would be and the approach which would be taken. The performance conventions which surprised me were based on my unfamiliarity with the opera and the plot of Carmen. I didn’t know that it would be in French or would have the amount of work which went into the various pieces. I also had assumed that opera was based more on the singing; however, this particular style used a large amount of acting and movement on the stage. This was refreshing; however, it was also unexpected. The musical and dramatic elements that were in the opera were based on the characteristics of being in Spain and belonging to the Gypsy race. This is heard from the beginning overture and leads throughout the various works. The first example of this is â€Å"Habanera,† in which Carmen announces her love to the village. The main element is the rhythm, which keeps a Spanish dance beat of 1, 3, 4 with a slight accent on the â€Å"and† between the 3 and 4. This is combined with the simplistic melody which follows over this and which is led by Carmen. During this point, the lighting is strong and depicts happiness with the dancing and announcement which Carmen makes. The second example of music which follows this characteristic is â€Å"Toreador Song† also known as the drinking song. When hearing the orchestra, there is a

English Application Essays Essay Example | Topics and Well Written Essays - 750 words

English Application Essays - Essay Example It would be an honor to be taught by such conversant and intellectual set of professors. The campus offers numerous recreation and fitness centers that can become good sources of relaxation after extensive hours of studies. I have always been an active member in extra-curricular activities and clubs; I aspire to continue such activities and shall contribute my role in the progression of the clubs. I believe that one can expect better results from something that is achieved as an outcome of group efforts and team work. The accumulation of different forms of opinions and ideas induces a touch of innovativeness and uniqueness in every endeavor. It is due to this belief that I am contented with the idea of my friends going in the same program. I am excited to study with these individuals and new classmates since they might even become my colleagues in the workplaces in the future. I think that our team work and research can contribute towards the development of the chosen domain of knowl edge and play our part in earning a name for the esteemed University of Ohio. My friends define me as a people’s person who loves meeting new people. The concept of getting familiar with different customs, traditions and culture of the world excites me. It is due to the passion for cultural diversity that I have chosen Ohio University. Ohio University celebrates cultural diversity rather than promoting exclusion. I admire such ideologies and feel that I shall be able to progress more in an environment that is run by such like-minded people. Therefore, I hope you will allow me to pursue my education in the desired business school- Fisher College. Essay 2 I bear great passion for travelling and meeting new people. The nature of my family business has granted me the opportunity to visit numerous countries of the world, thereby giving me the chance of experiencing various forms of cultures and traditions on firsthand basis. Such experiences have made me realize the value of inclu sion of perspectives from all sorts of cultures and origins. I believe that tolerance and acceptance of other people’s ideas induces an element of innovation in one’s work. Tim Berners Lee, the man who invented the World Wide Web, stated that â€Å"we need diversity of thought in the world to face the new challenges†. I aim to promote inclusion and tolerance for other cultures in my endeavors to play my role in safeguarding the traditions of multiculturalism of University of Colorado. Team work and mutual support bear great importance in an academic life since it bears numerous challenging instances and stressful routines. Acceptance of cultural diversity removes barriers among individuals and promotes the spirit of team work and mutual cooperation. I aspire to become a team player who will seek to work together with others to increase his domain of knowledge, as well as to play his part in earning a commendable name for the University of Colorado. Individuals w ho value team work spirit tend to benefit in their professional lives as well; therefore, I believe that my culturally rich experience at University of Colorado will prove to be advantageous for my professional life. Competition is also an integral part of any academic life; healthy competition can prove to be a valuable lesson since it prepares one for the professional life ahead. Exposure to multicultural lifestyles from my childhood

Mechanical Barriers to Communication

Mechanical Barriers to Communication Any act by which one person gives to or receives from another person information about that persons needs, desires, perceptions, knowledge, or affective states. Communication may be intentional or unintentional; it may involve conventional or unconventional signals, may take linguistic or non-linguistic forms, and may occur through spoken or other modes. Organisations cannot operate without communication. Communication can take various forms but all forms involve the transfer of information from one party to the other. In order for the transfer of information to qualify as communication, the recipient must understand the meaning of the information transferred to them. If the recipient does not understand the meaning of the information conveyed to them, communication has not taken place. Communication is the life source of organisations because organisations involve people. People cannot interact with each other without communication. In the absence of communication, everything would grind to a halt. For example; the workers in an organisation would not know the organisations objectives so they would not strive to achieve the organisations objectives. The workers in an organisation would not know what their roles and responsibilities were, so they would not be able to carry out their daily tasks and duties. The managers would not be able to train their workers reports so the workers would not possess the skills they needed to carry out their jobs. The managers would not be able to inform workers of changes The organisation would not be aware of their competitors activities On the whole people are able to communicate with each other as this is a basic human function. However successful organisations strive not only for communication but effective communication. Interpersonal Communication This is defined as communication between two or more people and involves the transfer of information (or message) from one person to the other(s). The person transferring the information is called the sender or transmitter. The people receiving the message are known as receivers. The transmitter will need to send the information in a format that the receiver(s) will understand. Converting the information into a format that the receivers will understand is known as Encoding. Messages can be encoded into a variety of formats oral, written or visual. After encoding the message is transferred via a medium called a channel, for example a letter, fax, phone call, or e-mail. After transference the information will need to be interpreted by the receiver. This process of interpretation is known as decoding. Finally the receiver will send a message back to the transmitter confirming whether the information sent has been understood. This back check is known as feedback. The communication process involves seven key elements as illustrated in the diagram below. Why you need to get your message across Effective communication is all about conveying your messages to other people clearly and unambiguously. Its also about receiving information that others are sending to you, with as little distortion as possible. Doing this involves effort from both the sender of the message and the receiver. And its a process that can be fraught with error, with messages muddled by the sender, or misinterpreted by the recipient. When this isnt detected, it can cause tremendous confusion, wasted effort and missed opportunity. In fact, communication is only successful when both the sender and the receiver understand the same information as a result of the communication. By successfully getting your message across, you convey your thoughts and ideas effectively. When not successful, the thoughts and ideas that you actually send do not necessarily reflect what you think, causing a communications breakdown and creating roadblocks that stand in the way of your goals both personally and professionally. In a recent survey of recruiters from companies with more than 50,000 employees, communication skills were cited as the single more important decisive factor in choosing managers. The survey, conducted by the University of Pittsburghs Katz Business School, points out that communication skills, including written and oral presentations, as well as an ability to work with others, are the main factor contributing to job success. In spite of the increasing importance placed on communication skills, many individuals continue to struggle, unable to communicate their thoughts and ideas effectively whether in verbal or written format. This inability makes it nearly impossible for them to compete effectively in the workplace, and stands in the way of career progression. Being able to communicate effectively is therefore essential if you want to build a successful career. To do this, you must understand what your message is, what audience you are sending it to, and how it will be perceived. You must also weigh-in the circumstances surrounding your communications, such as situational and cultural context. The Communications Process To be an effective communicator and to get your point across without misunderstanding and confusion, your goal should be to lessen the frequency of problems at each stage of this process, with clear, concise, accurate, well-planned communications. We follow the process through below: Source As the source of the message, you need to be clear about why youre communicating, and what you want to communicate. You also need to be confident that the information youre communicating is useful and accurate. Message The message is the information that you want to communicate. Encoding This is the process of transferring the information you want to communicate into a form that can be sent and correctly decoded at the other end. Your success in encoding depends partly on your ability to convey information clearly and simply, but also on your ability to anticipate and eliminate sources of confusion (for example, cultural issues, mistaken assumptions, and missing information.) A key part of this knows your audience: Failure to understand who you are communicating with will result in delivering messages that are misunderstood. Channel Messages are conveyed through channels, with verbal channels including face-to-face meetings, telephone and videoconferencing; and written channels including letters, emails, memos and reports. Different channels have different strengths and weaknesses. For example, its not particularly effective to give a long list of directions verbally, while youll quickly cause problems if you give someone negative feedback using email. Decoding Just as successful encoding is a skill, so is successful decoding (involving, for example, taking the time to read a message carefully, or listen actively to it.) Just as confusion can arise from errors in encoding, it can also arise from decoding errors. This is particularly the case if the decoder doesnt have enough knowledge to understand the message. Receiver Your message is delivered to individual members of your audience. No doubt, you have in mind the actions or reactions you hope your message will get from this audience. Keep in mind, though, that each of these individuals enters into the communication process with ideas and feelings that will undoubtedly influence their understanding of your message, and their response. To be a successful communicator, you should consider these before delivering your message, and act appropriately. Feedback Your audience will provide you with feedback, as verbal and nonverbal reactions to your communicated message. Pay close attention to this feedback, as it is the only thing that can give you confidence that your audience has understood your message. If you find that there has been a misunderstanding, at least you have the opportunity to send the message a second time. Context The situation in which your message is delivered is the context. This may include the surrounding environment or broader culture (corporate culture, international cultures, and so on). Barriers of Communication 1. Physical barriers Physical barriers in the workplace include: Marked out territories, empires and fiefdoms into which strangers are not allowed Closed office doors, barrier screens, separate areas for people of different status Large working areas or working in one unit that is physically separate from others. Research shows that one of the most important factors in building cohesive teams is proximity. As long as people still have a personal space that they can call their own, nearness to others aids communication because it helps us get to know one another. 2. Perceptual barriers The problem with communicating with others is that we all see the world differently. If we didnt, we would have no need to communicate: something like extrasensory perception would take its place. The following anecdote is a reminder of how our thoughts, assumptions and perceptions shape our own realities: A traveller was walking down a road when he met a man from the next town. Excuse me, he said. I am hoping to stay in the next town tonight. Can you tell me what the townspeople are like? Well, said the townsman, how did you find the people in the last town you visited? Oh, they were an irascible bunch. Kept to themselves. Took me for a fool. Over-charged me for what I got. Gave me very poor service. Well, then, said the townsman, youll find them pretty much the same  here. 3. Emotional barriers One of the chief barriers to open and free communications is the emotional barrier. It is comprised mainly of fear, mistrust and suspicion. The roots of our emotional mistrust of others lie in our childhood and infancy when we were taught to be careful what we said to others. Mind your Ps and Qs; Dont speak until youre spoken to; Children should be seen and not heard. As a result many people hold back from communicating their thoughts and feelings to others. They feel vulnerable. While some caution may be wise in certain relationships, excessive fear of what others might think of us can stunt our development as effective communicators and our ability to form meaningful relationships. 4. Cultural barriers When we join a group and wish to remain in it, sooner or later we need to adopt the behaviour patterns of the group. These are the behaviours that the group accept as signs of belonging. The group rewards such behaviour through acts of recognition, approval and inclusion. In groups which are happy to accept you, and where you are happy to conform, there is a mutuality of interest and a high level of win-win contact. Where, however, there are barriers to your membership of a group, a high level of game-playing replaces good communication. 5. Language barriers Language that describes what we want to say in our terms may present barriers to others who are not familiar with our expressions, buzz-words and jargon. When we couch our communication in such language, it is a way of excluding others. In a global market place the greatest compliment we can pay another person is to talk in their language. One of the more chilling memories of the Cold War was the threat by the Soviet leader Nikita Khruschev saying to the Americans at the United Nations: We will bury you! This was taken to mean a threat of nuclear annihilation. However, a more accurate reading of Khruschevs words would have been: We will overtake you! meaning economic superiority. It was not just the language, but the fear and suspicion that the West had of the Soviet Union that led to the more alarmist and sinister interpretation. 6. Gender barriers There are distinct differences between the speech patterns in a man and those in a woman. A woman speaks between 22,000 and 25,000 words a day whereas a man speaks between 7,000 and 10,000. In childhood, girls speak earlier than boys and at the age of three, have a vocabulary twice that of boys. The reason for this lies in the wiring of a mans and womans brains. When a man talks, his speech is located in the left side of the brain but in no specific area. When a woman talks, the speech is located in both hemispheres and in two specific locations. This means that a man talks in a linear, logical and compartmentalised way, features of left-brain thinking; whereas a woman talks more freely mixing logic and emotion, features of both sides of the brain. It also explains why women talk for much longer than men each day. Removing Barriers at All These Stages To deliver your messages effectively, you must commit to breaking down the barriers that exist within each of these stages of the communication process. Lets begin with the message itself. If your message is too lengthy, disorganized, or contains errors, you can expect the message to be misunderstood and misinterpreted. Use of poor verbal and body language can also confuse the message. Barriers in context tend to stem from senders offering too much information too fast. When in doubt here, less is oftentimes more. It is best to be mindful of the demands on other peoples time, especially in todays ultra-busy society. Once you understand this, you need to work to understand your audiences culture, making sure you can converse and deliver your message to people of different backgrounds and cultures within your own organization, in your country and even abroad. Barrier refers to something non physical that keeps apart or prevents activity, movement so on. à ¢Ã¢â€š ¬Ã‚ ¡ Types of Barriers Physical mechanical barriers Language or Semantic barriers Socio-psychological barriers Organisational barriers Personal barriers 1- Physical Mechanical Barriers Noise It is the disruption or interference in communication process anywhere along the way. à ¢Ã¢â€š ¬Ã‚ ¡ Noise though of varying degree, disturbs or interferes with communication. Whatever that distracts the receivers attention causes communication breakdown. Noise can be physical psychological. Physical distractions or disturbances such as loud speakers, gossip etc., draw the attention of the receiver. à ¢Ã¢â€š ¬Ã‚ ¡ Psychological noise is related to mental disturbances like ego clash, pre occupied thoughts, hang over, anxiety. DISTANCE Long distances between the sender the receivers can also obstruct effective communication TIME Time refers to the reaching of message. If an important message reaches late it is sure to affect communication. INFORMATION OVERLOAD It refers to excessive transmission of information. Much more information than what the receiver can process is transmitted to him/her. The receiver can ·t understand , digest, analyze act upon information overload that is beyond mental capacity. MECHANICAL BARRIERS Outdated machines equipment may produce excessive noise leading to physical barriers in communication. Distraction like background noise, poor lighting., affect the morale of the employees also obstruct effective communication. 2- SEMANTIC OR LANGUAGE BARRIER UNCLEAR MESSAGE Lack of clarity in message makes it badly expressed. poorly chosen empty word , phrases, inadequate vocabulary, failure to clarify implications etc., are some common faults found. FAULTY TRANSLATION The message that every manager receives from his superiors, peers, subordinates must be translated into language suitable for the respective person( for whom the information is destined). SPECIALISTS LANGUAGE It is often found that technical personnel special groups tend to develop a special, peculiar technical language of their own. It hinders their communication with persons not in their specialty, because of the receivers ignorance of that type of language. 3- SOCIO-PSYCHOLOGICAL BARRIERS DIFFERENCES IN PERCEPTION Perceptual barriers may arise due to differences between individuals in the way they perceive, organize understand their environment. DIFFERENCES IN ATTITUDE People differ with regard to attitudes opinions which often interfere with communication. If the message is consistent with our attitudes opinions we receive it favorably. INATTENTION Communication has no impact on those who are unable or unwilling to listen. If people do not pay the required degree of attention to listening understanding the messages they are supposed to receive. PREMATURE EVALUATION Some people form a judgment before receiving the complete message. Such premature evaluation prevents effective communication. à ¢Ã¢â€š ¬Ã‚ ¡ RESISTANCE TO CHANGE when new ideas are being communicated, the listening apparatus may act as a filter in rejecting new ideas. Thus resistance to change is an important obstacle to effective communication. CULTURAL DIFFERENCE Cultural refers to values, beliefs, norms, attitudes perceptions of people of different nations or regions. Symbols, words, colors, gestures, language must be carefully selected when senders of information are dealing with people of different nations regions. 4- ORGANISATIONAL BARRIERS STATUS RELATIONSHIP ONE WAY FLOW ORGANISATION STRUCTURE RULES REGULATIONS 5- PERSONAL BARRIERS ATTITUDE OF SUPERIOR- the attitude of superiors towards communication affects the flow of messages in different directions. LACK OF CONFIDENCE IN SUBORDINATES LACK OF TIME MESSAGE OVERLOAD Barriers to effective Communication (leaky bucket) At each stage in the process encoding, transference, and decoding there is the possibility of interference which may hinder the communication process. This interference is known as noise. Often a comparison is made between communication and a leaky bucket. If you use a leaky bucket to carry water, water will be lost at various points in your journey from the water tap to your destination. It is not possible to stop losing water because the bucket contains holes. The amount of water you will lose will be determined by the number of holes in the bucket, the size of the holes, the route you take to your final destination and length of time it takes you to get to your destination. There may also be other events that occur during your journey which increase the amount of water lost. Similarly when information is transferred from the transmitter to the receiver not all of the information may be received by the receiver because of holes called noise. Each of the noise may be affect the amou nt of information transferred. Just as in a leaky bucket, more holes decrease the amount of water, more noise decreases the amount of correct information received. Language issues and Cultural Differences The receiver(s) may not (fully) understand the language used by the transmitter. This may occur if the transmitters language is foreign to the receiver. There may also be language problems (that the communication process) if the message contains technical information and the receivers is not familiar with the technical terms used. Cultural differences created by an individuals background and experience affect their perception of the world. Such cultural differences may affect the interpretation (decoding) of the message sent. Environmental issues If the environment that the transmitter or receiver are in, is noisy and full of sound, the sounds may prevent the message being fully understood. Background noise is often created by colleagues or machinery. Channel issues If the channel used to transfer the information is poor it may prevent all or some of the information being transferred. Examples include a faulty fax machine, a crackling phone, handwriting that cannot be read or in the case of oral messages incorrect facial gestures. Receivers Attitude and behavior If the receiver(s) is not interested in the message (or unable to give their full attention to decoding) this may reduce the amount of information received or the accuracy of the information transmitted to them. Similarly the receiver(s) may misinterpret the message by jumping to conclusions or reading the message in a manner that suits their own interests/objectives and distort the true meaning of the message. Transmission journey i.e. steps in the message, If the message is complicated or there are lots of steps taken to transfer the message it may affect the accuracy or interpretation. Comparing with the leaky bucket if the leaky bucket has to carry water over a longer distance more water will probably lost than if the journey was shorter. Internal / Organisational Communication This is communication that takes place within (or across) an organisation. In addition to the usual face to face, telephone, fax or mail; modern organisations may use technology to communicate internally. Technology may be used for e-mails or a linked internal communication system such as the intranet which is an internet system designed solely for use by those working for the organisation. External Communications Conversely external communication is communication between the organisation and those outside the organisation. Modern organisations may design technological systems so that they can communicate with customers and undertake e-Commerce. Alternatively they communicate with other businesses through the internet or similar systems and undertake e-Business. Functions of Internal and External Communications Technology has rapidly expanded the types of internal and external communication available to organisations. The diagram illustrates the vast array of internal and external communication available. Combined together internal and external types of communications allow various sectors of the local, national and international community to interact, liaise and conduct business. Formal and Informal Communications Formal communication is defined as communication which occurs through the official organisational channels or is undertaken by an employee to do their job. For example official meetings, letters and a manager asking an employee to carry out a particular task. Conversely informal communication is that which occurs outside the recognised communication networks such as talking in the lunchroom or hallways between employees. Informal communication can be productive or negative. It has the potential to build teams, improve working relationships and generate ideas as employees are in a relaxed environment. Upward and Downward Communications Downward communication is communication created by directors and managers and passed down the hierarchy of workers in the organisation. In traditional organisations this is the preferred method of communication ie Managers decide what the systems, rules and procedures will be and then they pass these down to employees they manage and supervise. Downward Communication can increase efficiency by synchronising organisational procedures and can ensure that everybody is working towards the same overall aims and objectives. Types of downward communication include job descriptions, appraisals/evaluations, organisational policy, and organisational systems. Although there are advantages to downward communication organisations have began to encourage upward communication. This is communication which originates at the lower level of the employment hierarchy and is then communicated up through the line. Organisations encouraging upward communication believe that everybody is capable of generating thoughts and ideas which may help the organisation to progress, particularly when they are working closely in the area that the idea applies to. Upward communication may increase motivation and make employees feel valued and respected whilst enabling managers to understand how employees are feeling. Furthermore if problems occur at they are more likely to be identified earlier by those working closely in the area that they occur. Types of upward communications include suggestion schemes, feedback forums/surveys, grievance procedures and employee-manager discussions. Lateral Communication This is communication that occurs between employees on the same level in the organisation. As this can involve decision making it can create efficiency as employees do not have to wait for managerial approval. On the other hand if the manager is not kept informed or if the manager fails to set boundaries there is potential for conflict. Diagonal Communication This occurs when communication occurs between workers in a different section of the organisation and where one of the workers involved is on a higher level in the organisation. For example in a bank diagonal communication will occur when a department manager in head office converses with a cashier in a branch of the bank based on the high street. TELECOMMUNICATIONS GLOSSARY Term Definition Telecommunication Communication between parties based in different locations by using a cable, telephone, broadcast or a telegraph. Networking Linking to or more computers together so that information and facilities can be shared. Computers in the same room may be linked together or the organisation may decide to link, computers in different parts of the world together. Local Area Network (LAN) Computers linked by a network without the use of telecommunications. Often the computers linked are based in the same location, group of buildings or site. Wide Area Network (WAN)    Computers linked by a network using telecommunications. Often the computers linked are based in different locations. Teleconferencing    Through the use of telecommunication devices such as video link participants based in different locations communicating is known as teleconferencing. Electronic Data Interchange (EDI) Computer networks used to exchange standard business transaction documents between organisations. QUESTION 3 How might a manager use the GRAPEVINE to his or her advantage? First of all the definition of grapevine is that it is the unofficial way that communication takes place within the organization. It is neither supported nor authorized by the organization. It can also be called gossip. As we know many gossips have no factual bases at all; most of them however do. A manager can use grapevine to his or her advantage if it is an organization where people are used to get their information from these sources. And of course it would be a lie to say that most of us dont gossip, or listen to them at least occasionally, especially if it involves us. Bad information spreads a lot faster than good news, so the information gets to employees real fast. It can happen by a word of mouth, or recently more frequently by electronic means. If an organization is based on honesty, these grapevine information can be a lot more accurate than in an organization that is based on an authoritative culture. Usually there is always some truth to it however. Rumours about major lay-offs, plant closings, and the like may be filled with accurate information regarding who will be affected and when it may occur. This truth component is what a manager can use to his or her benefit. Most employees know that if there is any kind of grapevine information circling in the company, whatever its about can be true. If a manager for example wants to influence employees to work harder, or put more effort into it, he or she can simply start a new gossip, or encourage an existing one about lay-offs that might involve their department. Im not saying this is a nice way to do this, but if nothing else works, why not. This is however not the sign of the good manager, because he or she should be able to use other methods of motivation. A good leader needs to be able to exert high level of effort from his or her employees by motivating them in different ways. Another way of looking grapevine information is its usefulness in supplementing formal information channels. It provides a way for employees to communicate their imaginations and inputs to a certain issue. If management is not really doing a good job with communicating with employees about what is going on in an organization, then grapevine can satisfy these natural needs for information. Grapevine is a healthy human desire to communicate. It is the informal communication channel within the organization. Managers have to acknowledge this fact, and try to use it to their own advantage. Managers interested in creating good communication within the organization will use grapevine as a mean to improve it. The real value of grapevine should be to management is that it reveals issues that generate from those whom interested in or effected by it. Managers can also participate in grapevine. They can be filters, who monitor the information and forward to upper management only the valuable and important components. Grapevine usually pops up during times of uncertain times; therefore management has to make sure that it is providing enough information about important issues. The longer the rumour goes around, the hardest it is to control, so management had to intervene quickly if it wants to avoid its damaging effects. The fact is that grapevine is exists within organizations, and they always have a truth component to them. Management therefore can use them to their own benefits, as a compliment to the official and formal channels of information. How to use the Grapevine effectively in business organizations? Grapevine is an informal channel of business communication. It is called so because it stretches throughout the organization in all directions irrespective of the authority levels. The management can use grapevine to supplement the formal channels of communication. Though it carries some degree of error and distortion, efforts can be made to correct it. Ignoring the grapevine is nothing but to ignore a valuable source of communication. The management can eliminate its negative consequences and, at the same time, it can nourish its positive benefits. The managers have to learn to manage and control it. 1. The management can open up all the channels of organizational communication to present the facts positively before the employees and ther