Sunday, May 24, 2020
Business Essays - Project Team Building - Free Essay Example
Sample details Pages: 8 Words: 2268 Downloads: 3 Date added: 2017/06/26 Category Business Essay Type Narrative essay Did you like this example? Project Team Building Project-Based Team Building Literature Review Team Building To understand team building and the methods best adopted to choose a project team, one must first define a team adequately. Biech (2001) suggests that a team includes a group of people or individuals that are à ¢Ã¢â€š ¬Ã…“mutually dependent on one another to achieve a common goalà ¢Ã¢â€š ¬Ã‚ (1). Various other definitions of team suggest that a team must also function well together to succeed. Don’t waste time! Our writers will create an original "Business Essays Project Team Building" essay for you Create order Functionality is an important part of team work, and typically the purpose of a team with respect to a given project. There are multiple advantages to working in teams, including increasing the likelihood that an organization will achieve a better end result with respect to a project (Beich, 2001). Many organizations are adopting a team based approach to respond to the needs of a changing global marketplace. Teams often have the ability to more closely gauge customer needs and provide more information regarding technological changes, as well as provide a faster response to problems than à ¢Ã¢â€š ¬Ã…“traditional hierarchiesà ¢Ã¢â€š ¬Ã‚ (Biech, 2001:2). There are multiple characteristics of successful teams; these include: established clear goals, have defined roles, open and clear communication, provide for effective decision making, provide balanced participation, value diversity and manage conflict efficiently (Biech, 2001:14). How does one go about developing teams that do this? Team responsibilities must be clearly identified and delegated. This can occur through open channels of communication and by sharing role perceptions within the team (Biech, 2001). A team must include a master leader responsible for mentoring and coaching other members of the team, as well as promoting decision making activities within the team (Williams, 1998). The leader should serve as a mentor, encouraging team members to develop effective methods of communicating a shared vision by providing an example of how to do so; the leader must also serve to motivate and empower people to attain their desired outcome (Williams, 1998). The leader may serve as a chairperson to the team, helping provide continuous support and reaction to other members. Code, Langan-Fox Langfield-Smith (2000) suggest that effective team building and functioning can only result when members of the team share a team à ¢Ã¢â€š ¬Ã…“mental modelà ¢Ã¢â€š ¬Ã‚ that is clear and precise or repre sented. Further they suggest that effective team functioning results when an individual or chair within the team work with other team members to help influence the development of a mental model that will elicit the desired outcomes within the team (Code, et al., 2000). A mental model may include specific interventions and objectives for making decisions with the intent of achieving organizational objectives. This can be achieved by providing team members with a à ¢Ã¢â€š ¬Ã‹Å"verbal protocol analysisà ¢Ã¢â€š ¬Ã‚ , but analyzing and representing information or by brainstorming various methods and providing guidelines to team members (Code, et al., 2000). Hughes (1993) suggests that a facilitator should be present within a team to help explain in detail how every participantà ¢Ã¢â€š ¬Ã¢â€ž ¢s talents, insights and contributions are necessary for the team to achieve their end goals and objectives. Further the researcher suggests open communication is the most essential component of a successful team, allowing individual team members to help understand issues and avoid barriers that à ¢Ã¢â€š ¬Ã…“cause company failuresà ¢Ã¢â€š ¬Ã‚ (Hughes, 1993:20). Someone should also according to Hughes, be appointed to à ¢Ã¢â€š ¬Ã…“track and measure team progressà ¢Ã¢â€š ¬Ã‚ toward specific goals, organizing à ¢Ã¢â€š ¬Ã…“follow up sessionsà ¢Ã¢â€š ¬Ã‚ for all team members to gauge the teams progress and effectiveness toward achieving team goals (p. 20). The fastest way to achieve goals and build a team is through a à ¢Ã¢â€š ¬Ã…“straight pathà ¢Ã¢â€š ¬Ã‚ one that empowers staff members to use their individual talents within a team as part of a à ¢Ã¢â€š ¬Ã…“combined effortà ¢Ã¢â€š ¬Ã‚ so that the organization as a whole benefits as well as individual members of the team (Hughes, 1993: 20). An organization must also work toward establishing a well defined team-building process that includes use of well defined objectives (Hughes, 1993:20). Goa ls for the team should include creation of effective knowledge sharing and exchange, sharing of ideas and sharing of individual team memberà ¢Ã¢â€š ¬Ã¢â€ž ¢s skills and abilities (Hughes, 1993). An effective team is created when each member of the team uses their strengths and experiences to produce a whole that is stronger than the sum of the individual parts of the team (Hughes, 1993). Cooperation is also vital to successful team building. A chairperson or facilitator can adopt multiple strategies when building a team to enhance cooperation and communication. These strategies for improving team building include: (1) creating a team that is interdependent, where all members coordinate their efforts to achieve corporate goals, (2) identifying leaders that support the overall goals and objectives of the team but also help support and define a à ¢Ã¢â€š ¬Ã…“team conceptà ¢Ã¢â€š ¬Ã‚ , (3) Encourage members to try new ideas and à ¢Ã¢â€š ¬Ã…“identify was to relate to leaders a nd peersà ¢Ã¢â€š ¬Ã‚ , (4) establish communication patterns that are open and enable the team to easily understand the expectations of other team members and management, (5) team members must work with a competent facilitator to identify any underlying issues that may impede group development and lastly (6) senior group members must believe that positive results can come of new changes and strategies introduced by newer members of the team (Hughes, 1993:20). Brannick, Prince Salas (1997) suggest that effective team building can only occur when team performance measurement tools are in place to evaluate the teams achievements, purpose and progress toward achieving certain goals. Teams according to the authors, are a à ¢Ã¢â€š ¬Ã…“fact of lifeà ¢Ã¢â€š ¬Ã‚ and can account for à ¢Ã¢â€š ¬Ã…“real differences in outcomesà ¢Ã¢â€š ¬Ã‚ when created and utilized effectively (Brannick, 1997:3). There are multiple approaches to evaluating team performance. Among the more comm only adopted include evaluating the teams progress and success at achieving organizational goals and objectives within the scope of the teamà ¢Ã¢â€š ¬Ã¢â€ž ¢s project (Brannick, 1997). Teams are more than just groups of people; teams are groups of people within the organization that share a certain function and whose roles and responsibilities are interchangeable, particularly with regard to a given project (Brannick, 1997). Given this sentiment it makes sense that teams should be not only brought together to complete or achieve a specific purpose but also evaluated based on their ability to achieve this purpose and serve the organization as a whole (Brannick, 1997). Team Roles and Strengths Team roles vary within an organization. It is important that all team members roles are clearly defined and that team members understand what their role and what their job role is with respect to the team (Biech, 2001). This helps promote greater uniformity, open communication and clarity within the team. Defined roles also help team members understand why they are members of a team and how they support a team (Biech, 2001). Some studies suggest that conflict is more likely to occur in teams when roles are not clearly defined. Among the primary roles that are essential to teams include tasks roles and maintenance roles (Biech, 2001). Task roles are important for ensuring that work is accomplished in the team; people who participate in task roles help à ¢Ã¢â€š ¬Ã…“generate, organize and complete the workà ¢Ã¢â€š ¬Ã‚ (Biech, 2001). Examples of task roles include the proposer, shaper, coordinators and procedures (Biech, 2001: 15). Maintenance roles help support group communic ation, interpersonal relationships in the group and help promote group à ¢Ã¢â€š ¬Ã…“cohesionà ¢Ã¢â€š ¬Ã‚ (Biech, 2001: 15). Maintenance roles include people who are motivators, reconcilers and chair people assigned the role of overseeing the group and ensuring proper vision, communication and strategy implementation (Biech, 2001). Within any team members will often have both maintenance and task related roles (Biech, 2001). In an effective group structure team members will pitch in to contribute to what needs to be done for the team to realize success regardless of their à ¢Ã¢â€š ¬Ã‹Å"formalà ¢Ã¢â€š ¬Ã¢â€ž ¢ role in the team. Using the Belbin results and current management structure of the organization in question, the team currently in place consists of the following: managing director, quality and technical manager, human resources leader, health and safety manager, project engineer, accountant and customer support officer. Within this structure the HR leader and pro ject engineer are the only individual workers assigned the role of team worker. The project engineer serves a dual role as chairman, and the customer support officer serves as organiser. The majority of other members serve as shapers and completers. How To Choose a Project Team Selecting a project team is a complicated and complex task contingent on multiple variables. To ensure the greatest possible success for the team, selection of the project team should take into consideration each of the team memberà ¢Ã¢â€š ¬Ã¢â€ž ¢s individual goals and objectives, as well as the organizations goals and objectives (Biech, 2001). Additionally selection of the team should involve interview of team members to assess their motivations for participating and their skills (Biech, 2001). Inevitably some members of a team will be drawn to certain roles over others. Someone with technical skills for example will be drawn more to task roles than maintenance roles within the team structure. Despite this it is important that when selecting a project team managers combine task and maintenance roles to encourage balance within the team. For teams to be successful, the membership must also include a sampling of a diverse selection of candidates that represent multiple areas of the organization (Williams, 1998). A diverse selection of team members will ensure that the team is balanced and afforded the maximum opportunity for success within the organization. Diversity within a team encourages knowledge sharing provided the team is structured in a manner that facilitates open communication and knowledge sharing. To this extent individuals within the team should be assigned the role of facilitating open communication and knowledge sharing. Members of the team must also share a common vision and common strategy for reaching the organizationà ¢Ã¢â€š ¬Ã¢â€ž ¢s goals and objectives while also carrying out personal goals and objectives. A project team should also be selected based on the organizationà ¢Ã¢â€š ¬Ã¢â€ž ¢s time frame for completion of a selected project (Williams, 1998). If members of a team are familiar with one another and have the skill set necessary to complete the objectives designed by the team, then the chances are much greater that the team will achieve its objectives at an efficient and productive pace. Some teams are best reserved for learning experiences where more time is afforded training and development of teamà ¢Ã¢â€š ¬Ã¢â€ž ¢s communication and production capabilities (Williams, 1998). How to Change the Current Functional management Structure to Carryout Project Much of the research examined suggests that while participative management and leadership is essential to good team functioning, it is not necessary for achieving a teams goals and ensuring team efficiency (Biech, 2001). In the current functional management structure the organization is still dominated by hierarchical lines of authority. While a team based approach may encourage more participative management, hence empowering teams, it is not the ideal structure for facilitating maximum success in projects within the organization. The current management structure should be changed to assign each member of the team dual roles. This suggests that each member of the team be assigned maintenance and task roles. For each individual currently labeled as a à ¢Ã¢â€š ¬Ã‹Å"shaperà ¢Ã¢â€š ¬Ã¢â€ž ¢ for the team, this individual should also carry out a role that includes enhancing interpersonal communication and ensuring other members of the team feel equally supported and motivated. On e way to do this would be to rotate roles each team member shared when accomplishing various projects. The role of à ¢Ã¢â€š ¬Ã‹Å"team chairmanà ¢Ã¢â€š ¬Ã¢â€ž ¢ then could be changed from project to project to ensure that multiple members of the team had the opportunity to lend leadership to the team. The research available on team building suggests that the role of leader in a team can be shared by one or more people, or rotated from project to project to ensure that the organizations goals and objectives are met but to also ensure the greatest possible diversity within the team setting. Conclusions/Discussion Teams are more than a group of people brought together. Teams have been defined in many ways, but an effective definition and model of team performance is generally agreed on as being a group of two or more individuals with common goals and objectives that share responsibility for completing an assigned task or project. Effective team building occurs when teams are structured in a manner that encourages open communication and coordination. Members of the team may be assigned various task and maintenance roles to ensure the functionality of the team but also to ensure that team members remain motivated and that conflict within the team is avoided. Hierarchical structures such as the one presented are not ideal for facilitating the maximum team performance. Studies suggest that participative management and sharing of leadership roles and task roles within the team is most likely to result in successful outcomes for projects and the organization. When selecting a team organiz ations should consider individual members skills and abilities, experiences and history but also the diversity of the team and ability of team members to work effectively with one another. The team should incorporate a combination of people with both task strengths and maintenance strengths. Roles within the team may be interchangeable at times to promote knowledge sharing and the most efficient means of achieving team goals. Performance evaluation is also necessary to assess the efficacy of team measures and processes and to restructure the team when necessary to ensure members goals and objectives are in line with one another. References: Biech, E. (2001). The Pfeiffer book of successful team building tools: Best of the Annuals. San Francisco: Jossey-Bass/Pfeiffer. Brannick, M.T., Prince, C. Salas, E. (1997). Team performance assessment and measurement: Theory, methods and applications. Mahwah: Lawrence Erlbaum Associates. Code, S., Langan-Fox, J. Langield-Smith, K. (2000). à ¢Ã¢â€š ¬Ã…“Team mental models: techniques, methods and analytic approaches.à ¢Ã¢â€š ¬Ã‚ Human Factors, 42(2): 242. Hughes, K.T. (1993). à ¢Ã¢â€š ¬Ã…“A Managerà ¢Ã¢â€š ¬Ã¢â€ž ¢s Guide to the Art of Team Building.à ¢Ã¢â€š ¬Ã‚ Security Management, 37(11): 20. Williams, M.R. (1998). à ¢Ã¢â€š ¬Ã…“Mastering leadership: Key techniques for managing and leading a winning team.à ¢Ã¢â€š ¬Ã‚ London: Thorogood.
Wednesday, May 13, 2020
The Advantages Of Ratio Analysis Finance Essay - Free Essay Example
Sample details Pages: 11 Words: 3353 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? The term ratios is use to explain relationship connecting figures on a balance sheet, in profit and loss account, budgetary control system or any other part of accounting organization. Accounting ratios as a result shows the relationship between financial data. The analysis is very important role in measuring the performance of the business. These ratios are carried out from the Income statement and balance sheet. Several parties including management, investors and Government are involved in these ratios. The function of analysis is to measure the performance of the company and financial health of the organization. Advantages Ratio is an important role and old technique of the financial analysis. There are the following advantages Don’t waste time! Our writers will create an original "The Advantages Of Ratio Analysis Finance Essay" essay for you Create order Simplify the financial statements: It is simplifies the concept of financial statements. Ratio let know the complete story of changing in the financial situation of the business Facilitate inter-firm comparison: It is providing data for inter the firm estimate. Ratios highlight the factors of related with successful and unsuccessful firm. They have also told strong firms and weak firms, overrated and undervalue firms. Helps in planning: It is help in planning and forecasting. Ratio can be support management in it basic function of forecasting for planning, organizing, controlling and communication. Makes inter-firm comparison possible: Analyses can also the possible relationship to the performance varied division of the firm. Ratio is helpful in decide about their efficiency or else in the past and liable performance in the future. Limitations of Ratios Analysis The ratio analysis is the tools of financial management. Ratios are easily to calculate and easy to understand, they bear from serious limitations. Ratio is based only the information which have been recorded in the statements. Financial statements are subject to several limitations. These ratio derived, there from, are also subject to persons limitations. Comparative study required: Ratios are useful in judging the efficiency of the business only when they are compared with past results of the business. However, such a comparison only provide glimpse of the past performance and forecasts for future may not prove correct since several other factors like market conditions, management policies, etc. may affect the future operations. Ratios alone are not adequate. Ratios are only indicators; they cannot be taken as final regarding good or bad financial position of the business. Other things have also to be seen. Problems of price level changes: A change in price level c an affect the validity of ratios are calculated for different time periods. In such a case the ratio analysis may not clearly indicate the trend in solvency and profitability of the company. The financial statements, therefore, be adjusted keeping in view the price level changes if a meaningful comparison is to be made through accounting ratios. Lack of adequate standard: No fixed standard can be laid down for ideal ratios. There are no well accepted standards or rule of thumb for all ratios which can be accepted as norm. It renders interpretation of the ratios difficult. Limited use of single ratios: A single ratio, usually, does not convey much of a sense. To make a better interpretation, a number of ratios have to be calculated which is likely to confuse the analyst than help him in making any good decision. Personal bias: Ratios are only means of financial analysis and not an end in itself. Ratios have to interpret and different people may interpret the same ratio in di fferent way. Incomparable: Not only industries differ in their nature, but also the firms of the similar business widely differ in their size and accounting procedures etc. It makes comparison of ratios difficult and misleading. Current ratio Current Ratio is an indicator of the capability of the firms to pay their current liability by converting current assets. It is also known as liquidity ratio or cash asset ratio and also the cash ratio. It is calculated by dividing current assets with current liabilities. High figures mean that textile mills have the capacity to pay its current liability. Acceptable figures vary, depending upon the type of business. Generally, more than one is acceptable. Smaller value shows that company has not enough current assets to discharge its current liabilities. The current ratio of one means shows that the current assets are equal to current liabilities. Less than one means that company has more current liabilities and less current assets, which is a sign of concern in some cases. We have compiled the current ratio of Nisht textile mills of Pakistan and found the mean of current ratio is more than 1.00 in three years in 2005 to 2007 but in 2008 and 2009 current ratio mea n is less then 1 It is alarming that the Nishat Mill has more risky in 2008 and 2009. However, Kohinoor mill also found the mean of ratio is more then 1 in 2005 to 2008 but in 2009 downward trend 0.75 in 2009. Current ratio of Gull Ahmed shows downward trend 1.05 in 2005 and 0.9 in 2008, in 2009 shows some improvement .05 as compare to 2008.Fazal and shams also decrease trend 1.14, 1.49 in 2005 and 0.82, 0.73 in 2009 . Ratio table depicts that there is no improvement in 2009 and if it continues, there is a probability that in coming years situation of the textile mill will not be improve. However, mells can check their position by comparing with the average of the other textile mill. For example, this table shows that 25% mills have current ratio more than 1.00. It reflects that there are certain mills which have more current assets than current liabilities. Current Ratio= Current assets                            Current liabilities Textile mills Years 2005 2006 2007 2008 2009 Nishat Mill 1.24 1.38 1.74 0.73 0.86 Kohinoor Mill 1.02 1.02 1.07 1.06 0.75 Gul Ahmed Mill 1.05 1 0.95 0.9 0.95 Fazal Mill 1.14 1.17 1.03 1.1 0.82 Shams Mill 1.49 0.92 1.06 0.84 0.73 Return on assets Return on Assets (ROA) is an indicator which tells about the efficiency of firm in using the assets. It is calculated by dividing the annual earning of the company with total assets, shown as percentage. Return on assets = Net earning X 100                      Total assets Textile mills Years 2005 2006 2007 2008 2009 Nishat Mill 8.51% 3.05% 4.25% 14.54% 4.02% Kohinoor Mill 1% 2.62% -0.27% -0.02% -3.72% Gul Ahmed Mill 1.73% -0.77% 3.62% 1.96% 1.37% Fazal Mill 0.02% 0.03% -0.01% 0% 0.01% Shams Mill 6.38% 2.47% 10.06% -2.33% -5.09% This ratio is also an indicator of money earned by a textile mills against each dollar invested. There is an understood variation in the number, since it is highly related to capital investment. Textile mills are capital intensive sectors and these figures should be compared with another capital intensive sector. Ratio table shows that mean of the return on asset is Nishat textile mill -8.5 in 2005 and -4.02%, in 2009 which is quite alarming. And the other Kohinoor textile mills is the retorn on asset 1.00 in 2005 and -3.72 decrease in 2009. Gross profit margin Profit maximization is one of the core functions of commercial firms. Gross profit is a difference of net sale and COGS. It shows how well the operation is generating revenue. Gross profit margin =Gross profit X 100                     Net sale Textile mills Years 2005 2006 2007 2008 2009 Nishat Mill 18.77% 17.76% 16.56% 14.35% 18.23% Kohinoor Mill 14.26% 14.8% 14.64% 15.36% 14.89% Gul Ahmed Mill 16.39% 15.64% 14.98% 15.14% 16.81% Fazal Mill 9.88% 8.66% 5.35% 5.72% 7.82% Shams Mill 13.42% 9.56% 5.09% 5.63% 5.08% Ratio table shows that Nishat textile mills of Pakistan could have only 18.77% and 18.23% gross profit margin in 2005 and 2009 respectively. Although Nishat textile mill earned loss, the percentage was too small, and profits earned were minimal. However, majority of the mills did not report any loss in operations. Ratio table shows that Kohinoor textile mills of Pakistan could have only 14.26% and 14.89% gross profit margin in 2005 and 2009 respectively. Although Kohinoor textile mill earned profit, the percentage was too small they will be earned a profit is mini mum in 2009. The gross profit ratio is show in the gul ahmed textile mills of Pakistan is the rat6io of 16.39% in 2005 and they will be a profit is minimum in 16.81% in 2009 and they earned a profit is to short in the financial year 2009 could have minimum gross profit in 2005 to 2009. Then the other to mills of Fazal and Shams is the ratio of gross profit is in 9.88% , 13.42% in 2005and they will be a loss in 2009. In 2009 is the ratio of mills is7.82% , 5.08% is a loss in an operation and they will be very decrees in 2009 Operating profit margin Operating Profit Margin (OPM) is also called operating margin, operating income margin or return on sales (ROS). It is calculated by dividing operating profit with net sale usually presented in percentage. It shows the efficiency of the firm in generating profits from its operations. Difference between gross profit and operating profit provides information about the over head expenses in total cost. Operating profit margin = Operating profit X 100                             Net sale Textile mills Years 2005 2006 2007 2008 2009 Nishat Mill 17.58% 12.1% 12.03% 36.08% 12.6% Kohinoor Mill 6.83% 11.63% 8.06% 13.4% 8.55% Gul Ahmed Mill 6.63% 7.27% 7.56% 7.98% 8.69% Fazal Mill 7.28% 6.19% 3.41% 3.94% 5.99% Shams Mill 9.65% 6.47% 1.96% 1.16% 0.2% Operating profit ratio of Nishat millis 17.58% in 2005and decrees 12.03% in 2007 then the Ratio is very higher in 36.08% in 2008 and they will be profit margin but in 2009 the ratio is not stable in 2009 and they will be very low ( decrees) in 12.6% in 2009. It show the table has also be a profit is very low which compeer in 2008/ depicts that 25% firms have -3% loss, however, more than 50% firms have Positive . However the Kohinoor mill is operating profit is 6.83%in 2005 they will be increase in the 11.63% in 2006.then 2007 is the profit is decrees in 8.06% is very low which comer5 to 2006. And 13.4% in increase th e profit ratio in which combination of 2007.kohinoor mill in 2009 is to short a loss in 8.55% , which is campier in 2008 is very high the ratio., ktml mills of Pakistan have earned the profit in 2008 and bear the loss in 2009 financial period. Gull ahmed textile mill Ratio 6.63% in 2005,and they will be increase year by year in minimum and the profit in 8.69% in 2009.the operating profit and net sale is h higher than the 2005 period year. Fazal and Shams textile mills are the 7.28% , 9.65% in 2005 the operating profit is decrees by the 5.99% , 0.2% is very low in the combination of year 2005 Net Profit Margin . Net Profit Margin= Net Profit X 100                   Net sale Textile mills Years 2005 2006 2007 2008 2009 Nishat Mill 16.41% 9.8% 7.05% 29.9% 5.31% Kohinoor Mill 1.89% 4.32% -0.56% -0.05% -5.2% Gul Ahmed Mill 1.29% -0.42% 1.67% 0.88% 0.58% Fazal Mill 2.48% 2.39% -0.9% 0.41% 0.89% Shams Mill 7.2% 2.66% 8.64% -1.75% -3.09% In 2005, Nishat textile mills of Pakistan reported 16.41 % and in 2009 operating profit margin became 5.31%.that ratio is to the bear loss in for the period of financial year. Return on equity Equity is the money invested by the shareholders for profit. This ratio indicates the firms ability to earn against the investment. It is also called return on average common equity, return on net worth, and return on ordinary shareholders funds. Return on Equity= Net Income after tax  X 100                       Net equity Textile mills Years 2005 2006 2007 2008 2009 Nishat Mill 14.58% 7.92% 5.58% 22.11% 6.55% Kohinoor Mill 2.33% 6.33% -0.66% -0.09% -15.33% Gul Ahmed Mill 3.4% -1.51% 6.62% 3.79% 2.73% Fazal Mill 0.06% 0.07% -0.03% 0.01% 0.03% Shams Mill 19.6% 7.69% 27.86% -6.99% -19.5% Nishat textile mills of Pakistan have only 14.58 % ROE in 2005 than will be decrees in 7.92% , 5.58% in 2006 and 2007 other 22.11% in 2008 the equity ratio is increase in 2008 and 6.55% decrees in 2009. Kohinoor mill is the equity of 2.33% in 2005 and increase in the share holders equity 6.33% in 2006 but next year is share holder equity is less than 1.00 funds of -.66% , -.09% , -15.33% ins decrees in 2007 to 2009. Company founds is very low in last year. Ktm mill is equity 2.33% in 2005 and increase in 6.33% 2006 but the ROE is less 1.00 of share holder equity -0.66% , -0.09% , -15.33% in decrees the share h older equity in 2007 to 2009. Gul ahmed textile mill ROE is 3.4% in 2005 and decrees in share holder equity -1.51% in 2006. And 6.62% increase the equity of 2007 but 3.79% , 2.73% decrees in 2008 to 2009. Fazal mill ROE is .06% , .07% in 2005 to 2006 but decrees in equity -0.03% in 2007. Fazal mill increase in 0.01% , 0.03% 2008 and 2009 the equity ratio is growth the share holder funds. Shams mill is the ROE 19.6% in 2005 but 2006 growth of ROE is decrees 7.69% and the next year in 2007 equity is more high increase in 27.86% for higher than the previous year. 2008 and 2009 ratio of equity is less than 1 percent in -6.99% -19.5% is profit of share holder equity. This tells us that net loss of the firms will lead them to a serious position and this position may not allow them to survive and ultimately there are more chances that many firms will be bankrupt Earning per share Earning per Share (EPS) is an indicator of the firm performance. It depends upon the profitability of the firms. It is calculated after closing the previous years books. It is the portion of the firms profit which is allocated to each outstanding share of investors. In other words, it is a valid and reliable tool to measure the profitability of the companies. It is calculated as: EPS= Net income-dividends on preferred stocks X 100      Average outstanding shares Textile mills Years 2005 2006 2007 2008 2009 Nishat Mill 12.86% 10.22% 7.58% 36.86% 6.81% Kohinoor Mill 0.92% 2.82% -0.32% -0.02% -3.02% Gul Ahmed Mill 1.53% -0.68% 3.11% 1.86% 1.45% Fazal Mill 6.61% 7.86% -3.31% 1.62% 4.09% Shams Mill 8.12% 4.76% 21.83% -4.69% -9.65% EPS is considered as the single most significant variable in determining a shares price in stock exchange. This variable also tells price-to-earnings valuation ratio. The table tells about the EPS situation of Nishat textile mill of Pakistan. It is obvious that in 2005, the mean value of EPS is 12.86%, whereas, it has decline to 10.22% in 2006, almost they will be less than the previous year 2006 and 2007 value of EPS is more decrease in 2007 of 7.58% than the other hand 2008 is value of share is increase four times greater than previous years 36.86%. is much higher in 2007the ratio of EPS. And will be profit on the share holder in 2008. EPS 6.81% in 2009 they will be decrease by the previous year. The share holder profit is minim. Kohinoor textile the price in stock exchange 0.92% in 2005 and greater than the 2.82% in 2006. Other wise the company share price is decrease in-0.32 in 2007 and company reputation was very poor. EPS was -0.02, -3.02 reduce by the 2008 and 2009. The company profit is under the previous year. Gul ahmed mill in Pakistan earring per share in 2005 was 1.53% and -.68% in 2006 was the share price is under the 2005but 2007 the company was work done properly in 3.11% to increase earring price. 2008 and 2009 EPS is decrease in 1.86%, 1.45% which compare to 2007. Fazal textile mill is reliable profit in 6.61% for the period of 2005. The company was most significant variable in determining a share price stock exchange. The price is earning in 7.86% 2006. The firm profit which allocate by share price. The company performance is better then the previous year. 2007 comp any performs not the work and they will be a decrease in share price -3.31% in 2007.share price will be increase in 1.62% 4.09% of 2008 and 2009 the performance of the company is better period of 2009. Shams mill Pakistan It is the portion of the firms profit which is allocated to each outstanding share of investors. Other words, it is a valid and reliable tool to measure the profitability of the companies. The company share price in 8.12% in 2005 and the company perform the work and profit allocate the outstanding of share of investor in 21.83% measure the profitability in 2007 but in 2008 the Fazal mill is decrease the share price -4.69% -9.65%in 2008 and 2009. Company are taken the loss in the year. They will not achieve the target of measure the profit but did the company to run the loss. Debit ratio Debt ratio is one the fundamental ratios used to determine the financial health of the firms. It tells that what is the level of total liabilities and assets of the firms. Debit ratio= Total liabilities X 100        Total assets Textile mills Years 2005 2006 2007 2008 2009 Nishat Mill 48.83% 3.33% 31.45% 52.03% 63% Kohinoor Mill 132.05% 140.89% 119.23% 171.08% 312.05% Gul Ahmed Mill 0.93% 1.06% 0.85% 1.07% 0.98% Fazal Mill 1.38% 1.51% 1.57% 2.23% 1.56% Shams Mill 0.4% 1.04% 1.92% 2.39% 3.1% Nishat textile mill of Pakistan have 48.83% debt ratio in 2005 and 3.33% in 2006 respectively .it means that the liabilities are more than the asset. Debt ratio 31.45% in 2007 that the company is the asst is more than the liabilities. The ratio is 52.03%, 63.00% and the debt ratio is increase by the 2008 and 2009 the financial of firm health in total asst and total liabilities. Kohinoor textile mill 132.05% debt ratio in 2005 and 2006 is the debt ratio 140.89% will be increase the liability. 2007 debt ratio is decrease in 119.23% and the asset are increase and the liabilities are decrease but in 2008 the compan y performance is better ratio is 171.08%. And is higher the profit of Kohinoor mill company financial wealth in the level of asset and liabilities are increase by the 312.05% in 2009 and company performance is well better in 2009. Gul ahmed textile mill have 0.93% debt ratio in 2005 and 2006 which is 1.06% respectively it means that liabilities are under the asset and the asset increase in 2006but in 2007 to 2009 is in the ratio of 0.85% , 0.98% which was the liabilities are increase in the ratio. Fazal textile mill 1.38%, 1.51%, 1.57% and 2.23% in 2005 to 2008 and liabilities are decrease year by year, otherwise 2008 are asset and liabilities are increase mill wealth is strong but in 2009 ratio is 1.56% which compares by 2008 ratio is decrease in 2009. Shams mill have 0.4% debt ratio in 2005 and ratio raise by 3.1% in 2009. Mill perform the work is so good ratio has declined which means that whit the passage of time the difference between liabilities and asset is increasing. Total asset turnover Total Asset Turnover (TAT) is a ratio that deals with net sales and total assets. This ratio measures how well a firm is using its assets to generate revenue. Total asset turnover (TAT) = Net sales                                          Average total assets Textile mills Years 2005 2006 2007 2008 2009 Nishat Mill 48.83 3.33 31.45 52.03 63 Kohinoor Mill 132.05 140.89 119.23 171.08 312.05 Gul Ahmed Mill 0.93 1.06 0.85 1.07 0.98 Fazal Mill 1.38 1.51 1.57 2.23 1.56 Shams Mill 0.4 1.04 1.92 2.39 3.1 Nishat textile mill Table shows that in total asset turnover, asst turnover mean the values 48.83 in2005 and 2006 is 3.33.both figures tells about the industries generate revenue is not equal to the total asset. In 2007 to 2009 total asset turnover value of 31.45, 63.00 is generate the revenue means to equal the total asset. Kohinoor textile mill 132.05 total asset turnover values in 2005 and 140.89 asset turnover value increase in 2006 but 2007 value of the asset turnover will be decrease. 2008 in the asset value of 171.08 which is greater than the previous. In 2009 the total asset turnover is increase 312.05 in the year. The firm usi ng and generate the revenue of net sale. Gul ahmed textile mill total asset turnover 0.93 in 2005 and generate revenue of net sale divided by average of total asset but 2006 asset turnover is increase in1.06 that year. 2007 to 2009 textile mill was generating the revenue in total asset 0.85, 0.98 is increasing which compeer to2007. Fazal textile mill is total asset of turnover value 1.38, 1.51, 1.57 in three year value increase by normally of mills asset in 2005 to 2007. But 2008 was generating the revenue of total asset turnover 2.23 which is greater than the previous year. And 2009 ratio 1.56 is under 2008. Shams textile mill 0.4 in 2005 total asset turnover Total Asset Turnover (TAT) is a ratio is increase by the properly in four year 1.04, 1.92 , 2.39 ,3.1 the asset generate that deals with net sales and total assets for 2006 to 2009. This ratio measures how well a firm is using its assets to generate revenue in the 2009 Fixed asset turnover Textile mills have to invest in fixed assets to generate revenue. It may be in shape of land, machinery etc. Ratio of fixed and capital assets depends upon the type of industry. Fixed Asset Turnover (FAT) =   Net sales      X 100                                   Average fixed assets Textile mills Years 2005 2006 2007 2008 2009 Nishat Mill 0.88% 0.77% 0.73% 0.68% 0.87% Kohinoor Mill 0.83% 0.17% 0.82% 0.85% 1.17% Gul Ahmed Mill 1.46% 1.85% 2.08% 2%% 2.28% Fazal Mill 1.52% 1.61% 1.29% 1.06% Shams Mill 1.91% 1.83% 2% 2.25% 2.84% Nish at textile mill in Pakistan demand for more fixed asset. Table show that in 2005 this ratio is 0.88%, whereas, in 2006 it was 0.77%. It show that the textile mill as a whole generates less revenue by using fixed asset in 2006 as compared to previous year. Is that ratio in 2007 to 2009 was 0.73%, 0.68%, 0.87%. nishat textile mill as a whole generates less revenue by using fixed asset in 2007 to 2009 which compared to previous year. The mill was earned the growth in the 2009 and they will establish better work in 2009. Kohinoor textile mill for fixed asset in 2005 and ratio is 0.83%. They will be a revenue decrease in 0.17% in 200 6. Ktm is fixed asset turnover is higher in the previous year. The ratio increase in 2007 to 2009 fixed asset ratio is 0.82%, 1.17% in the generate revenue in earned by the year 2009. Gul ahmed textile mill demand for more fixed asset table that show in 2005 ratio is 1.46% whereas, in 2009 it was 2.28% ratio was show in the table. That ratio is increase in yearly basis and the fixed asset turns over would be higher in previous year. Fazal mill was the fixed asset ratio in 2006 is 1.52% and 2007 was 1.61% they will be increases the asset but in 2008 the ratio will decrease 1.29% and more decrease in 2009 in ratio 1.06%. Total asset turnover was in decline the asset for fazal mill. Shams textile mill demand for more fixed asset table that show in 2005 ratio is 1.19% whereas, in 2009 it was 2.84% ratio was show in the table. That ratio is increase in yearly basis and the fixed asset turns over would be higher in previous year.
Wednesday, May 6, 2020
My Windsor investigation Free Essays
string(82) " also visited the crooked house near the extremely small Queens Charlotte Street\." Tourism is the business of going on holiday and making services at the same time. This is more people being provided with jobs. There has been an increase in tourism, because people have more money nowadays to spend on holidays. We will write a custom essay sample on My Windsor investigation or any similar topic only for you Order Now There are many reasons for this. Some are paid holidays, cheaper flights, and more leisure time. All of these factors make it possible for a person to be able to go on holiday. Also, some parts of the government occasionally promote tourist areas which they support in making successful. There are quite a variety of tourist destinations. There are adventure holidays, such as Disney Land, beach holidays, such as Spain, which is most commonly associated with sunny weather and attractive beaches. Many also like to go on ski resorts, such as Switzerland and historical sites are as popular type of tourist destination. Windsor is a historical destination, because of its famous Windsor Castle. Tourism is important to Britain, as, creates employment opportunities, in turn improving Britain’s economic status. Tourism in popular places, such as Windsor builds a better reputation for Britain across other countries. In addition, the money tourists spend helps Britain economically. Tourism provides potential for future visits and business, and is a good way of creating cultural exchange, and allowing others to learn about the country and traditions within. Tourism offers the opportunity to diversify local economy and helps the conservation of famous sites around many different countries. A good tourist centre requires mainly exciting attractions. Most tourists would want tour guides to take them around places. Transport would be essential for being able to move from place to place properly. Most tourists like to shop for souvenirs so shops would be seen as something important for tourists if they wanted a reminder of their visit. Good accommodation such as hotels and places to eat, e.g. a fast food restaurant is what tourists would also need. Friendly people and a good, safe environment would also be something required by many tourists. A good place to live would require, first of all, houses to live in, good, clean, quiet environment. Families would want satisfactory schools for their children. Residents would want local superstores or shops, to buy food and luxuries etc. Hospitals and any other sort of medical aid is an essential for every resident living in a certain area, e.g. doctors, dentists. People would want places of entertainment to attend. These can be cinemas, pubs, and clubs or anywhere where a person may want to socialise. A resident would need some extent of safety and security to ensure that they are living in a safe environment in case anything should happen, so police would have to be in hand to help secure the area. Local job vacancies would be probably more convenient than essential for residents, and would be preferred by people living in Windsor. Car parking availability should be provided as well. Tourism affects Windsor in many ways; both in negative and positive ways. It can cause crowded streets, inflated prices, and traffic, parking difficulties, litter and pollution. Particular activities that tourists take part in contribute towards environmental damage. Purchasing of goods by tourists in Windsor cause inflated prices, which makes it difficult for most residents in Windsor to afford many of the things sold in stores. Litter and pollution make it increasingly difficult in Windsor to maintain cleanliness in the environment. Parking difficulties can cause conflict between residents and tourists, and make it tricky for either residents or tourists (or both) to actually travel anywhere or find a decent parking space which is convenient for them. However, on the other hang, tourism in Windsor encourages employment, raises status for Britain, improves facilities and it also helps to preserve historic sites such as its famous Windsor Castle. Tourism also brings more income to the country enhancing the state’s economic wealth. Windsor Windsor is on the west side of London, near Heathrow airport, in Berkshire. The attractions that Windsor has got are the Windsor Castle, Guildhall (where Prince Charles and Camilla Bowles got married), Lego land, and Curfew Tower. People visit these attractions, mainly for its historic content. Whereas many others visit it for the adventure of Lego Land. METHOD At the beginning of the project, our class had to learn about Windsor. We learnt many basic facts about Windsor, and the fact that it is a tourist destination. We did class work, engaged in discussions about Windsor, and had to research facts about Windsor as homework, as part of our own independent research. We also learnt about tourism itself, and its effects. The sources we used to gain this information were secondary sources. This was the internet, textbooks, the library etc. We then drew up an introduction to our project based on our knowledge about Windsor and tourism. Once learning about Windsor and tourism, we then practised the questions on each other in class in order to prepare us for the real thing. After using secondary research, we then moved on to using primary research. This was carrying out our surveys in Windsor. We went to Windsor on 3rd May. We travelled by coach for roughly one hour, and we arrived at a coach park. One of the first things we, as a group noticed was the large amount of other coaches that were there and lots of tourists that were coming out of the coaches. The first thing we did was had a tour around the area. There were signposts displaying greetings in many different languages. Some of which were French, German, and Japanese. We passed many tourist shops and many high street shops, which also exist in London, and were obviously aimed at the residents. We then took a visit to the River Thames, which was a lot narrower in Windsor, than in London and we saw many swans. We visited Peascod Street and the Guildhall. We also visited the crooked house near the extremely small Queens Charlotte Street. You read "My Windsor investigation" in category "Papers" Nearby, was Nell Gwynne’s House, where Shakespeare wrote one of his famous plays â€Å"Merry Wives of Windsor†. We witnessed the changing of the guards, and visited the outside of the castle. It was very big, with guards standing at the entrance, with lots of tourists coming in and out, mostly looking at their maps for directions. We also saw the â€Å"long walk†. We then all gathered around the castle, from where we were distributed into small groups of mostly four. We had to go around asking our questions to the people who looked like residents and people who looked liked tourists. We had to do this to five of each. This was easy for me and my group. We approached the people in a polite way and asked the questions in the survey thoroughly. The residents were very polite and enthusiastic. However, although it was very easy to interview the residents, the tourists were more difficult to obtain our results from. The reason we felt for this was because many of them were foreign and had difficulties speaking English. However, in the end, we received our results, and our (me and my group’s) research was successful. This was because we managed to obtain a balanced sample of people to interview. We tried to make sure we interviewed people of different ages and genders. This is important, as a balanced opinion is needed to give fair results, and a better insight into the people’s views about the topic. When we finished our surveys, we were allowed to have some free time to eat and rest. We then met up at an agreed time back outside the castle, from where we took off and left to come back to school. MY RESULTS This graph shows us how the tourists rated the facilities in Windsor. This shows me that the residents think that the best things in Windsor are the signposting, the historical interest, the cleanliness and the friendliness. The fact that the tourists find the residents friendly possibly shows that the residents do not mind the tourists being there and that there isn’t a conflict of interest between tourists and residents in Windsor. The things that the residents rated the lowest were the value for money and the amenities. This means that the prices are expensive in Windsor and the tourists see this as a problem. This graph tells me what the tourists I surveyed thought that needed improvement in Windsor. This graph tells me that the tourists think that the shops and pedestrian areas need least improvement in Windsor, but parking and availability of toilets is limited and a problem for the tourists in Windsor. This shows that there could be a conflict of interest between the tourists and residents, as it appears to be a battle of who can get parking spaces etc. This graph shows us what attractions the tourists prefer to go to. This graph tells us that most of the tourists do not like Lego Land as an attraction to visit in Windsor nor do they like the tours around the area. I think this is, because all of the tourists surveyed were adults and were without children so were not expected to go to Lego Land. The most popular tourist attractions in Windsor are the river and the shops. The shops in Windsor were very good, as they had all of the things a tourist would look for, e.g. souvenirs. This pie chart shows me how many tourists were willing to visit Windsor again. This graph shows me that 16 (80%) out of 20 tourists are willing to visit Windsor again, and 4 (20%) aren’t. This statistic could be used to conclude that Windsor is in fact a successful and satisfying tourist centre and that there isn’t a conflict of interest between the tourists and the residents in Windsor. This graph shows me if the tourists were willing to recommend visiting Windsor to their friends or family. 19/20 said yes, they would. That is 95%. Only one person said they wouldn’t recommend Windsor to friends and family. This shows me that the tourists enjoyed their visit to Windsor. + This graph shows us what problems the tourists cause in Windsor. From my results, I can judge that the biggest problems tourists in Windsor cause are parking difficulties and crowded streets. This could be a cause for conflict between the tourists and residents. The least problems caused by tourists, according to my graph, shows inflated prices and too many shops aimed at tourists. These results are surprising, as a successful tourist centre like Windsor would be expected to have high prices, which would affect residents living in the area. This graph illustrates whether the residents avoid shopping in certain areas because of the tourists. I can see from my results that most of the residents do not avoid shopping in any parts of the town, because of the tourists. This could be because the tourists and residents go to different kinds of shops, i.e. tourists would be expected to go to shops which sell things for tourists, e.g. souvenirs etc., whereas residents are more likely to go to a superstore. The other argument could be that the residents and tourists get along well with each other, and have no problem with going to the same shops, which would prove that there is no conflict of interest. This graph shows us what benefits the tourists bring to Windsor. This graph tells me that the biggest benefits that tourists in Windsor bring to the town are employment, income, and preservation of historic sites. All of these things show the most obvious benefits which tourism would bring to an area. The least benefits they bring to the town are status. This result is particularly surprising, as I expected people to say Windsor’s status has been affected by tourism, especially as Windsor is popular as a tourist destination, and this is widely known. This graph shows us how the residents rate the facilities in Windsor. This graph shows me that the residents think that the historical interest, the pedestrian areas, and the food in cafes and restaurants are the best things in Windsor. The tourists in Windsor agreed that the historical interest in Windsor is good as well as the food. However, they think that parking and amenities aren’t very good in Windsor. I think that this is because of the tourists being in Windsor. Parking availability would probably be a lot better if there were no tourists visiting Windsor, as well as amenities provided there. This graph shows us what the residents think would improve Windsor. This graph shows me that the residents would want the biggest changes made to supermarkets, toilets and parking spaces. The toilets and parking spaces could be a cause of the tourists and the residents wanting to improve these things could mean that they have a problem or problems with the tourists’ visits. The things that the residents think need the least improvement are the shops aimed at tourists, the amount of tours, and the opening times of the castle. This graph shows us who the residents think the council favours more. From these results, I can see that the changes introduced by the council have mostly got the balance right between the tourists and residents. This means that Windsor is not only good as a tourist centre, but as a residential area too, which means that the residents in Windsor are satisfied with where they live. This is true, as there were no residents who thought the council favoured the tourists more, but a minority said the residents were favoured more. This graph tells us if there is a conflict of interest between the tourists and residents. Most of my residents said ‘no’. This shows me that generally, the residents do not think there is a conflict of interest between the residents and the tourists. RESULTS Tourists Results: There were many streets/areas which seemed to be aimed at the tourists. Some of these were: 1 Thames Street 2 Station Parade 3 Castle Hill 4 Eton All of which have particular things to attract the tourists, which stands out from the rest of the areas in Windsor. Most of the tourist sample came from the UK, with 11/20, however a similar amount of tourists came from abroad with 9/11. This shows no correlation between Windsor and the tourists who visit it. Most of the tourists i surveyed travelled to Windsor by car, which were 8/20. This shows me possibly that most of the tourists were independent visitors. The least used transport to Windsor by the tourists was a bus. The most popular of attractions for the tourists was the river, the Guildhall, and the shops. 50% of the tourists said they would be visiting the river, and 30% of the tourists said they would be visiting the Guildhall, which is still quite a low score. But, with the highest score, 60% of the tourists said that they would be shopping in Windsor on that day. The tourists rated all of the facilities in Windsor over four, with the exception of only a few. These were: 1 Value for money 2 Amenities (such as toilets) 3 And information on things to do. These however, still scored a rating of over three, which is still a high score, which shows that Windsor is good as a tourist centre, as it provides all of the needs for tourists. The most popular facilities were: 1 Signposting 2 historical interest 3 cleanliness 4 and friendliness These are all very important elements needed for a site to be particularly successful for tourism. Signposting is needed for guidance around the area, and since they were written in many different languages, this is extremely helpful for foreigners. A clean environment is needed for not only a tourist, but residents too. Tourists want a place to feel safe from insanitary when they are visiting somewhere to enjoy themselves. Friendliness also is a very important factor in being successful as a tourist site. Tourists want to feel welcome, and wanted there. If there wasn’t any friendliness in Windsor, the tourists would probably be put off, and not want to visit Windsor again. 80% of the tourists said they would visit Windsor again, and 20% said they wouldn’t, which shows Windsor is a big preference for the tourists, and they were impressed by the visit. 95% of the tourists said they would recommend visiting Windsor to a friend or member of family. Residents Results: There were many streets/areas which seemed to be aimed at the residents. Some of them are: 1. Peascod Street 2. Kind Edward’s Court 3. High Street/Thames Street 4. Around the station From my residents’ sample, I found out that every one that i surveyed lived in Windsor for at least 6 months. A few which I interviewed had been living in Windsor for: 19 years, 28 years, 50 years, 65 years, 40 years, 66 years, etc. So a lot of the residents i surveyed had been living in Windsor most of their lives. All of my residents said they visited the town centre at least once every two weeks. The majority visited the town centre daily, which shows that Windsor is a good place to live in; otherwise my residents wouldn’t have said this. The results from my residents chart shows me that on average, the residents think tourists do not Bring that many problems to the town. However, the problems they did bring were: * Crowded streets * And parking These could cause a conflict of interest between the tourists and residents, as this would mean residents/tourists cannot go to certain places, as they have to worry about parking their car, or be worried about crowded areas. The least problems they caused were: * Inflated prices * Traffic * And shops aimed at tourists. Although the tourists think that there is a problem with crowds, they do not think there is much traffic to the extent of being a problem. This can be expected, as the tourists spend their time walking around more in groups, than using means of transport. The residents all rated the facilities in Windsor over 2.5, which is slightly less that what the tourists rated the facilities. This (although vague) shows that the tourists prefer Windsor to the residents. The lowest scored facilities were the parking and amenities. The tourists share this same problem, as they rated amenities as one of their lowest. This suggests that the council in Windsor should put this as one of their main priorities for improving Windsor for the residents and tourists. The highest rated facilities by the residents were: historical interest, pedestrian areas, and cafes/restaurants. The tourists also rated the historical content of Windsor highly as well. The biggest changes residents thought would improve Windsor for the better were: * Toilets (80%) * Supermarkets (70%) * And parking (85%) The tourists share the same view about toilets and parking. However, compared to the residents, a lot less suggested improvement for these things. 25% of my tourists suggested improvement to toilets and 25% of tourists suggested improvement to parking. The least changes suggested by the residents were for: * Shops (70%) * Amount of tours (70%) * Opening times of the castle (70%) The tourists also agreed that shops didn’t need improvement, (90% said this). Overall, tourists appear to be more content with Windsor than the residents. The most changes needed are for parking and amenities (toilets). This means that the council needs to take this into consideration in order to improve Windsor for tourists and residents. EVALUATION OF RESULTS I can conclude, from everything I have found out, using my graphs/results that Windsor is a successful tourist centre. I have collected sufficient information in backing up this point, which gives me full confidence in stating this. In asking my tourists to rate particular things in Windsor, all were rated over 3 out of 5 for a score, and 8/14 being scored 4 or over. This showed me that as a whole, tourists are satisfied with the content of Windsor and the different services it provides as a tourist destination. Most of the tourists didn’t feel that Windsor needed any improvement, and 80% of my tourists agreed that they would be coming to visit Windsor again in the future. There is some evidence according to my results to suggest that there is a conflict of interest between the tourists and residents in Windsor. A lot of the residents i surveyed claimed they had problems with the crowds and lack of parking availability which was caused by the tourists. This is/would be seen by the residents as inconvenient to a large extent i.e. Windsor is their home and having to live there whilst having no parking space for their car would be very hard to deal with, especially when having to go to work or travel for other needs essential to the residents. Another thing a lot of the residents I interviewed were displeased with was the lack of amenities served in the area such as toilets. This could be because of tourists constantly using them during their visit to Windsor, which a resident could find to be annoying especially if they are out all day, and cannot go home. However besides these facts, I found the residents to be overall fine with the tourists’ visits to the popular town, and felt that there was a friendly atmosphere between the residents and tourists. A considerable amount of residents said that there were no places in the town they avoided shopping in because of the tourists. Also, most of my residents agreed that tourists did bring employment, income and were the cause of conservation of historic locations such as the Castle. The residents rated most of the facilities in Windsor over half, which shows approval of Windsor, including tourism. 16/18 of the residents believed that the council favoured both the residents and the tourists, making sure the balance was right and that neither was losing out. Finally, from the results I have assembled, I can see that the majority of residents I surveyed throughout my trip to Windsor said that there was no conflict of interest between the residents and tourists. The council, however has managed to try resolve the little bit of conflict between the tourists and residents by making sure to fulfil the residents’ needs, by providing them with advantages as citizens in Windsor. One way they have successfully managed to do this, is by providing the residents in Windsor with Advantage Cards. These cards allow residents in Windsor to attend attractions such as The Castle with discounts. Special offers are also given on tour guides around the area’s best attractions. Supplementary litter bins have been made for enhanced hygiene for the residents. Finally, further parking spaces have been set up to the residents’ advantages to ensure no parking difficulties occur, which don’t allow residents to park their cars whilst the tourists are visiting. EVALUATION OF METHOD On our visit to Windsor, the day went generally well. Firstly, the atmosphere was very good. There was a huge mixture of people from different backgrounds and areas, so it was very multicultural. It was a clean, tidy area, with hardly any litter lying around, which showed it was well maintained. I liked the attractions in the area, the shops, and just generally the things in the area. It was a good looking place, mostly because of its cleanliness, and quiet streets. The good weather added to the scenery. The interviews went considerably well. The people in the area were very polite, and welcoming. Most of the people cooperated, in helping me and my group fill in our survey. They seemed very enthusiastic. I was able to get an adequate amount of residents and tourists to fill out my survey, which obviously helped me a lot for my coursework, in creating my graphs and evaluating my results. All of the people I interviewed appeared to understand the meaning and the context of the questions which I asked them, and easily answered them, which was convenient and time-saving for my group. On our day to Windsor, I encountered minor problems. One of these was when I was looking for tourists to interview for my survey. A lot of the tourists at first kept refusing to do the interviews when requested. Some couldn’t speak English which appeared to be the reason. It took a long time to find five tourists who were willing to cooperate, but eventually we did, however it was really time-consuming. I had a few problems when doing my Windsor coursework. One problem was being able to follow up on work inside and outside of school. I also had problems with attendance, which caused me to fall behind slightly at first with my coursework. Occasional difficulties with understanding parts of the project drew me back slightly, but help from my teacher and peers helped me overcome these drawbacks. I managed to get a balanced sample of people to interview. I tried to obtain fair results by interviewing as many men as I could women, and tried to interview people from different age categories. I managed to do this, by referring to my survey and seeing who I had to interview. It is important to have a balanced sample, so that the results I receive are accurate and reliable. CONCLUSION From the start of my Windsor project, my aim has been to successfully answer three questions about Windsor: 1. Is Windsor a successful tourist centre? 2. Is there a conflict of interest between residents and tourists? 3. What has been done to try to solve any conflict of interest In trying to accomplish these questions, I can finally conclude that from all of the information I collected in the duration of this project I have found Windsor to be a very successful tourist centre. The tourists I surveyed agreed that among many other positives in Windsor, the popular destination has good historical content and attractions and is full of friendly people. The tourists were willing to visit the town again in the future and even recommend it to friends and family. Windsor provides the tourists with wide varieties of ways to enjoy themselves and makes sure they have a good visit. The attractions such as Eton, the Guildhall and others play a big part in this as well. I have concluded in confidence as well that there is generally no conflict of interest between the residents and the tourists. The residents seemed happy to be accompanied by the tourists and this was shown through the survey I carried out, where the residents thought the tourists brought benefits to the town such as employment, status, preservation, income. My residents also said there was no conflict of interest between the residents and tourists in Windsor. Any minor conflicts in Windsor between the tourists and residents have been dealt with by the council. The council has introduced Advantage Cards which give residents in Windsor special advantages to visiting attractions, and allowing them discounts and offers on tours. Additional litter bins and parking spaces were also produced so that the residents and tourists have an equal balance in being provided with needs and wants. How to cite My Windsor investigation, Papers
Monday, May 4, 2020
Understanding of Thermodynamics Example For Students
Understanding of Thermodynamics Understanding Thermodynamics Through the Concepts of Absolute Zero and the Distribution of Molecular Speeds Thermodynamics is the study of work, heat, and the energy of a system (NASA, 2010). To help explain in more detail the properties of thermodynamics are the laws of thermodynamics. The first law explains that a system’s internal energy can be increased by adding energy to the system or by doing work on the system (Serway Vuille, 2012). An internal energy system is the sum of both its kinetic and potential energies. The first law more simply states that the change in internal energy of a system is caused by an exchange of energy across the system, typically in the form of heat, or by doing work on the system. This relationship can be represented by the equation: ÃŽâ€U = Q + W ÃŽâ€U is the change in internal energy, Q is the energy exchanged (heat), and W is the work done on the system. Often, energy is exchanged with a gas while work is either done on the gas or by the gas. When work is done on the gas, work is negative; whereas, when work is done by the gas, work is positive (Serway Vuille, 2012). The internal energy of an ideal gas is represented by the expression: U = (3/2)nRT For a monatomic gas where its particles consist of only single atoms, its change in internal energy is represented by the equation: ÃŽâ€U = (3/2)nRÃŽâ€T n is the number of moles, R is the gas constant (8.31 J/Kmol), and ÃŽâ€T is the change in temperature measured in Kelvins. Temperature is measured using many different units throughout the world. Americans in the U.S. typically measure temperature in degrees Fahrenheit. More commonly used throughout the world is degrees in Celsius. In physics, Celsius is also commonly used, along with Kelvin. The relationship between Celsius, t, and Kelvin, T, is represented by the expression: T = t + 273.16 In any ideal gas law equations, temperature should be in units of Kelvin. The Kelvin scale is an absolute scale, meaning that the lower limit of temperature assigned is zero (Department of Physics, 2010). In relation to the Kelvin scale, the expression for the ideal gas law is PV = nRT. When using the ideal gas law, if the number of moles, n, and the volume, v, is held constant, then â€Å"absolute zero†corresponds to zero pressure. Absolute zero is the basis for the Kelvin scale, in that -273.16  °C is its zero point, which corresponds as 0 K (Serway Vuille, 2012). Although the concept of absolute zero seems to correlate only with temperature, one must consider what temperature actually is. As mentioned above, when energy is exchanged, it is usually in the form of heat. Therefore, temperature could be considered as the average kinetic energy of molecular motion. While considering this relationship, it has been defined that at absolute zero, molecular motion stops. However, this defies Quantum Mechanics, which states that some molecular motion always exists. If temperature were to actually be absolute zero, there would be no temperature to drive kinetic energy. Additionally, Quantum Mechanics explains that although absolute zero would not drive kinetic energy, molecular motion still has potential energy (Department of Physics, 2010). Thus, the molecules would continue to oscillate as the atoms in the molecules stretch and contract. Now that we know molecular motion never completely stops, we can discuss how molecular motion is related to both temperature and energy. To simply state this relationship, the temperature of a gas is a direct measure of the kinetic energy of molecules moving in a gas (Serway Vuille, 2012). Therefore, as the temperature of a gas increases, the molecular motion will also increase and have a greater kinetic energy. To represent the wide-range distribution of molecular motion, the expression is used: .u57f51debc2326947a6c37ac4fb2fa873 , .u57f51debc2326947a6c37ac4fb2fa873 .postImageUrl , .u57f51debc2326947a6c37ac4fb2fa873 .centered-text-area { min-height: 80px; position: relative; } .u57f51debc2326947a6c37ac4fb2fa873 , .u57f51debc2326947a6c37ac4fb2fa873:hover , .u57f51debc2326947a6c37ac4fb2fa873:visited , .u57f51debc2326947a6c37ac4fb2fa873:active { border:0!important; } .u57f51debc2326947a6c37ac4fb2fa873 .clearfix:after { content: ""; display: table; clear: both; } .u57f51debc2326947a6c37ac4fb2fa873 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u57f51debc2326947a6c37ac4fb2fa873:active , .u57f51debc2326947a6c37ac4fb2fa873:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u57f51debc2326947a6c37ac4fb2fa873 .centered-text-area { width: 100%; position: relative ; } .u57f51debc2326947a6c37ac4fb2fa873 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u57f51debc2326947a6c37ac4fb2fa873 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u57f51debc2326947a6c37ac4fb2fa873 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u57f51debc2326947a6c37ac4fb2fa873:hover .ctaButton { background-color: #34495E!important; } .u57f51debc2326947a6c37ac4fb2fa873 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u57f51debc2326947a6c37ac4fb2fa873 .u57f51debc2326947a6c37ac4fb2fa873-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u57f51debc2326947a6c37ac4fb2fa873:after { content: ""; display: block; clear: both; } READ: Order Disorder And The Law Of Thermodynamics Essayf(v) dv = dN This is the Maxwellian distribution function, where f(v) specifies the number of molecules, dN, having speeds from range v to v + dv (Department of Physics, 2010). The Maxwellian distribution function can be used in many ways, including finding the mean kinetic energy per molecule for an ideal gas. To find , one can add all the kinetic energies of the molecules, and then divide that sum by the total number of molecules. More simply, another way to calculate this is = (3/2)kT (Department of Physics, 2010). The reason one might want to find the number of molecules with a range of speed or the average kinetic energy of one molecule is to better understand how two different molecules can have the same kinetic energy while moving at different speeds. A large molecule will have slow speed compared to a smaller molecule, which will have a much faster speed to have the same molecular kinetic energies. In relation to temperature, a molecule with a lower temperature will experience fewer collisions between molecules while moving. A molecule with a higher temperature will experience more collisions with other moving molecules due to its faster speed. Now that we understand how work, heat, and energy impact a system in physics, we need to consider why this is important to appreciate as a human. As animals (or humans) do work and create energy, they give off heat. Therefore, thermodynamics can be applied to animal bodies (Serway Vuille, 2012). As a body’s internal energy changes due to different amounts of energy being lost, this rate of change can also be measured with an equation just as before in the physics world. ÃŽâ€U = Q + W can still be used, but each value will be divided by the change in time, ÃŽâ€t. As energy flows out of the body as it does work, internal energy and body temperature are kept constant because animals are open systems (Serway Vuille, 2012). In ordinary physics situations, doing work causes the internal energy and temperature to actually decrease. This is just one way thermodynamics relates to our everyday lives as humans. Thermodynamics is also incorporated into the technology of our world, inc luding how energy is taken from a refrigerator and delivered as heat to the kitchen; how a heat engine takes in energy by form of heat and uses that energy to create new mechanical and electrical energy; or how an air conditioner uses a heat pump to extract energy from the cold outside air and delivers energy in the form of heat to the warmer inside air. By understanding how thermodynamics is a study of physics, it will make it easier to recognize its influence on our everyday lives as well. References 1. Department of Physics. (2010). Physics 174/184 lab manual. Oxford: Kendall Hunt. 2. NASA. (2010). What is thermodynamics?. Retrieved from http://www.grc.nasa.gov/WWW/k-12/airplane/thermo.html 3. Serway, R. A., Vuille, C. (2012). College physics. (9th ed.). Boston: Cengage Learning.
Subscribe to:
Posts (Atom)