Thursday, May 21, 2020

finance Essay - 2823 Words

Continuing Case: Cory and Tisha Dumont Part 3: Protecting yourself with insurance 1. Using the earnings multiple approach would result in the following life insurance calculations for Cory and Tisha. Cory’s needs = $38,000 x (1 – 0.22) x 12.46 = $369,314 Tishas needs = $46,000 x (1 – 0.22) x 12.46 = $447,065 Cory currently has $76,000 (2 x $38,000) of term life insurance through his employer. Consequently, Cory should consider purchasing approximately $293,000 of additional life insurance coverage. Tisha has $69,000 of term insurance through her employer, as well as a whole life policy of $50,000. She should consider purchasing an additional $328,000 of life insurance coverage ($447,065 – $119,000). While Tisha or Cory†¦show more content†¦5. Life insurance is meant to provide funds to replace a breadwinners to protect and support dependents. Chad and Haley are dependents, not income providers. Therefore, the purchase of life insurance is unnecessary and not recommended. The Dumonts should use the money they would spend on policies for the children to increase their own coverage. The claim that Chad and Haley would always be insured is only relevant if (1) the Dumonts continue the premium payments and (2) there is a high probability, based on family health history, that Chad or Haley will contract cancer, diabetes, or heart disease. Otherwise, they will be eligible for insurance in the future and there is no need for â€Å"permanent† coverage starting at this young age. 6. As a â€Å"comprehensive major medical insurance policy,† the Dumonts’ coverage includes basic health insurance for hospital, surgical, and physician expense needs, as well as major medical expense coverage. The latter is very important to extend the basic coverage to protect the Dumonts from the financial effects of a catastrophic illness or accident. The policy has a very adequate lifetime cap of $3,000,000 per insured. The Dumonts should continually analyze the health plans from both employers to determine which offers the best overall plan. But, the annual coinsurance, stop-loss amount, and familyShow MoreRelatedFinance1352 Words   |  6 Pagesfinancial manager differ from the traditional financial manager? Does the modern financial managers role differ for the large diversified firm and the small to medium size firm? 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(1985), long-term finance provi ders are more likely to focus on the matter whether the financial structure in the company is sound or not and the durability of profitabilityrather than temporary profits that a potentiallyRead MoreFinance, Economics, And Finance Essay1245 Words   |  5 Pagesalso studied business, management, economics, and finance. These courses impressed upon me the importance of the financial sector in the economy. Finance professionals have the unique responsibility of managing assets and analyzing risks to ensure the future success of a company or organization. It is difficult to overstate the importance of this role, as the financial crisis of 2009 showed. 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Monday, May 18, 2020

Football Attendances Essay Online For Free - Free Essay Example

Sample details Pages: 8 Words: 2292 Downloads: 7 Date added: 2017/06/26 Category Business Essay Type Analytical essay Tags: Economy Essay Did you like this example? Introduction The British football sector is characterised by considerable diversity in relation to the nature, type, size and success of football clubs (Wilson and Piekarz, 2015). However, what these clubs all share is a diminishing ability to attract large audiences. For example, by June 2015, just two months before the start of the 2015/2016 season, the English Premier League club, Newcastle United had only managed to sell 70 per cent of its season tickets; articles that just one decade earlier had been the subject of considerable demand (Edwards, 2015). Don’t waste time! Our writers will create an original "Football Attendances Essay Online For Free" essay for you Create order Clubs at the lower echelons of the English footballing hierarchy, like Millwall and Brighton are faring even worse (Gupta, 2013), while many of those in the Scottish League are suffering a similar fate (Watt, 2014). This paper examines and discusses the drivers of the fall in football attendances and ticket sales in the United Kingdom in recent years. The paper finds that the decline cannot be attributed to any one factor; rather, a number of aspects have combined to produce a decline in interest, or ability of football fans to attend games. Against this background, a number of strategies to boost ticket revenues are proffered. The paper is organised as follows. The next section identifies and critiques four possible reasons for the decline in attendances and sales (the late 2000s recession, the limits of capacity, hooliganism and the increase in the number of televised football matches). Next three novel tactics to boost sales are identified. A short conclusion summarises the key fi ndings of the paper. Causes of decline The late 2000s recession In 2008, the British economy officially entered into a recession. Unemployment rose particularly among the working classes (the social class in which football fans and audiences have traditionally been located), downward pressure was placed on wages, and, as a consequence of growing inflation, disposable incomes were squeezed (Wilson and Piekarz, 2015). It seems reasonable, therefore, to suggest that the decline in the uptake of football tickets by potential attendees is at least partially attributable to their inability to afford the expense. Indeed, research shows that during periods of economic downturn, households cutback expenditure on items that are perceived to be non-essentials or luxuries; for many households, attendance at a football game will fall into one of these categories (Dobson and Goddard, 2011). Thus, a negative correlation between (paid) football attendances and inflation rates should be expected. However, there is some research that indicates that football con sumption is in fact, price inelastic, even in the higher price brackets (Forrest, Simmons and Feehan, 2002). What this means is that avid football fans will continue to purchase tickets and attend matches if the relative price increases (as occurs during a recession) even if their economic circumstances should, according to a rational analysis, inhibit this. The price inelasticity of football attendance has been explained according to the theory of fandom (Goldblatt, 2014). This refers to the fact that football should not merely be understood as a game, but as a subculture comprised of a community of consumers whose identities and interests are reinforced through the consumption of the activity of which they are a fan (Harris and Alexander, 1998). Many individuals are long-term fans of football teams (or, of the game in general); their history of interaction with the sport can often be traced through familial lines. In such instances, expression of fandom continues regardless of obs tacles such as affordability and economic context. The fact that football is characterised by fandom suggests that the recession alone cannot explain the sharp decline in attendances and revenues witnessed in recent years. However, some commentators have argued that the effects of the recession should be understood in conjunction with the massive, real rise in prices of football tickets that have been evident over the past two decades. Since the 1980s, the cost of attending a football game has increased substantially (Buraimo, 2014). In the English Premier League the highest professional league in the country the average price of a ticket has risen by some 1100% (in real terms) since 1995 (Buraimo, 2014). One of the reasons for the huge increase in prices is the need for clubs to invest substantial sums in new talent in order to remain financially viable (Dobson and Goddard, 2011). Devoted fans understand this and may be happy to contribute funds through higher ticket prices du ring normal economic times. However, faced with declining incomes, even the most dedicated followers may be forced to make cutbacks on attendance. Capacity limits have been reached Another explanation for the decline in attendances and sales is that the limits of growth have now been reached. During the 1990s and early 2000s, many large clubs built new stadia or extended or remodelled their existing infrastructure (Dobson and Goodard, 2011). Examples include Boltons Reebok Stadium, which was built in 1997, Sunderlands Stadium of Light (completed in 1997) and the DW Stadium (Wigan) which was built in 1999. Indeed, Deloitte (2014) catalogues some 30 new stadium built between 1992 and 2012. The improvement in facilities and increase in capacity meant that aggregate attendance levels, and hence, revenues, sharply rose in the late 1990s and early to mid-2000s (Dobson and Goddard, 2011). Thus, the fall in numbers attending games and the revenues that this yields that has been witnessed in recent years merely represents a return to what economists term equilibrium, or the natural state of things (Dobson and Goddard, 2011). Hooliganism Since the 1980s, many football matches have been marred by instances of hooliganism (Hopkins and Treadwell, 2014). Hooliganism refers to a bundle of deviant and criminal behaviours (including violence, destruction, vandalism, intimidation, brawling and fighting) that is not typical of, but unique to the sport of football. Although hooliganism in football has a long history (according to Hopkins and Treadwell, 2014, the earliest recorded incident of football hooliganism occurred as far back as 1880), it proliferated during the 1970s and 1980s in English football. Many teams were supported by organised groups of hooligans such as Middlesbroughs Frontline, the Naughty Forty (hooligans associated with Stoke City) and the County Road Cutters (Everton) (Hopkins and Treadwell, 2014). Growing incidents of hooliganism arguably made physical attendance at football matches far less desirable compared with the ability to watch the sport at home or televised in some space away from the stadium (Jewell, Simmons and Szymanski, 2014). The impact of hooliganism on attendances and revenues may also be more indirect. It may also have been partly responsible for the hike in prices that occurred during the 1990s, as clubs sought ways to attempt to dissuade hooligans from attending games. However, the impact of hooliganism on football attendances and revenues could perhaps be overstated. As Green and Simmons (2015) and Perryman (2013) have both noted, there has been a decline in incidents of hooliganism in recent years in both England and Scotland. This is attributable to a crackdown placed on hooligan activities by British law enforcers as well as increased powers of clubs to prevent sales of tickets to individuals known to be associated with football related crime. Increased access to televised football Finally, it is argued that physical attendances at football matches have dropped because there is simply no need for fans to attend any longer. As a consequence of new economic models characterised by the sale of the rights to televise football games to a number of production companies, it is possible for fans to watch most games either at home (if they have the relevant subscriptions) or in some other space (such as a public house) (Solberg and Mehus, 2014). Furthermore, channels through which football can be watched and accessed are growing in diversity as a result of advances in communications technologies. The proliferation of mobile devices such as smartphones and tablets means that individuals can tune in to their favourite clubs games even when they are on the go (Cleland, 2015; Solberg and Mehus, 2014). Although football fans express the joy and excitement of attending a real-life game (Goldblatt, 2014), there are many advantages to watching a game outside of the football s tadium. First, audiences have access to home comforts and facilities, such as toilets and drinks, and do not have to endure poor weather which may in fact improve their enjoyment of the game. Second, watching a game at home or in a public space is considerably less expensive than attending a physical game, even if a television (or other platform) subscription must be paid for (Dobson and Goddard, 2011). The cost of ancillary products such as food and drink is lessened, and souvenirs, if desired, can be easily sourced online (Solberg and Mehus, 2014). Thirdly, there may be better camaraderie for fans of the game because large groups of individuals are able to watch the game together; whereas only devoted fans are likely to travel to away games, and the cost of both home and away games, as well as restrictions on sales may prevent some individuals from attending. Fourthly, if hooliganism is perceived to be a problem, fans may believe it to be safer to watch the game away from the stad ia (Perryman, 2013). Despite the advantages of watching football games away from the stadia, as well as the increased ability to do so, some commentators argue that the impact of television and other media on the negative economic fortunes of the game have been overstated. Firstly, it is pointed out that clubs derive considerable revenues from their deals with television companies (Cleland, 2015). Secondly, many avid fans view televised games as inferior to watching games in real life. Thirdly, the games of many football clubs, especially those in the lower leagues, are not televised at all (Wilson and Piekarz, 2015). This means that the drop in attendance at these games cannot be attributed to the proliferation of broadcasted matches. Strategies to boost revenues from ticket sales Many of the factors that may be driving reduced sales are, to some extent, out of the control of the football clubs. Therefore, novel or innovative strategies may be necessary to increase sales. Drawing on the tactics used by American sports teams faced with declining sales (reported in Howard and Crompton, 2004), the following strategies are recommended to UK football clubs to boost revenues from ticket sales. Use differential pricing. Differential pricing is a pricing strategy in which the price of tickets is adjusted according to the quality of the teams involved in the game, the weather or the time of the season (Dobson and Goddard, 2011). If low audience numbers are expected due to, for example, poor weather or the economic climate clubs are advised to drop prices in order to boost sales. Flexible season tickets. This involves offering fans the ability to tailor season ticket packages to their needs and has been found to be highly successful in boosting sales (Howard and Crompton, 2004). Facilitate resale markets. Clubs are advised to develop ticket facilities that enable secondary sale of already purchased tickets. This will allow individuals facing financial difficulties to recoup losses by selling tickets to other fans. Concluding remarks Football is big business. The survival and thriving of British football clubs depends largely on their ability to attract audiences, to grow those audiences (particularly season ticket holders, who are more loyal) and to convince those audiences to spend cash on ancillary goods (e.g. food drinks and souvenirs) when they are in attendance. However, the ability of clubs in the UK to grow audiences and to convert them into revenues is under threat. This paper has highlighted some of the drivers of the drop in football attendances and revenues from ticket sales in the United Kingdom in recent years. The paper finds that reduced revenues cannot be attributed to any one factor. Rather, the fall in sales is likely due to increased prices in tickets, reduced affordability caused by the economic downturn, the increase in hooliganism and the increased ability to watch football matches in spaces away from the physical stadia. Against this background, clubs are advised to adopt three tactics t o support their economic and financial growth. References Buraimo, B. (2014). Spectator demand and attendances in English league football. In Goddard, J. and Sloane, P. (Eds.). Handbook on the Economics of Professional Football. Cheltenham: Edward Elgar Cleland, J. (2015). A Sociology of Football in a Global Context. London: Routledge. Deloitte (2014). Annual review of football finance. London: Deloitte Dobson, S., Goddard, J. (2011). The economics of football. Cambridge: and Goddard, Cambridge: Cambridge University Press. Edwards, L. (2015). A third of Newcastle season tickets unsold. https://www.telegraph.co.uk/sport/football/teams/newcastle-united/11706929/A-third-of-Newcastle-season-tickets-unsold.html Forrest, D., Simmons, R., Feehan, P. (2002). A Spatial Cross-Sectional Analysis of Elasticity of Demand for Soccer. Scottish Journal of Political Economy, 49(3), 336-356. Goldblatt, D. (2014). The Game of Our Lives: The English Premier League and the Making of Modern Britain. London: Nation Books. Green, C., Simm ons, R. (2015). The English disease: has football hooliganism been eliminated or just displaced? In Rodriguez, P., Kesenne, S. and koning, R. (Eds). The Economics of Competitive Sports. Cheltenham: Edward Elgar Gupta, R. (2013). Clubs like Brighton Millwall take steps to halt declining attendances https://www.bbc.co.uk/sport/0/football/21142999 Harris, C., Alexander, A. (1998). Theorizing fandom: Fans, subculture, and identity. Jersey: Hampton Press Hopkins, M. and Treadwell, J. (2014). Football Hooliganism, Fan Behaviour and Crime: Contemporary Issues. London: Palgrave Macmillan Howard, D. R., Crompton, J. L. (2004). Tactics used by sports organizations in the United States to increase ticket sales. Managing Leisure, 9(2), 87-95. Jewell, R. T., Simmons, R., Szymanski, S. (2014). Bad for Business? The Effects of Hooliganism on English Professional Football Clubs. Journal of Sports Economics, 15(5), 429-450. Perryman, M. (2013). Hooligan wars: Causes and effects of football violence. London: Random House. Solberg, H. A., Mehus, I. (2014). The Challenge of Attracting Football Fans to Stadia?. International Journal of Sport Finance, 9(1), 3-19. Watt, T. (2014). How has your clubs average attendance changed in past 20 years? https://sport.stv.tv/football/clubs/celtic/302136-how-has-your-clubs-average-attendance-changed-in-past-20-years/ Wilson, R., Piekarz, M. (2015). Sport Management: The Basics. London: Routledge.

Wednesday, May 6, 2020

Gay Adoption Policy Analysis - 3047 Words

I. Delinieation and Overview of the Policy Under Analysis Social attitudes about family life have undergone profound changes in recent decades. While public acceptance of homosexuality remains a deeply decisive issue, adoption by gays and lesbians has become increasingly acceptable, with 46% of the national population favoring gay adoption. (Pew Research Center, 2006) In New York State, statutes developed to permit gays to adopt are among the most permissive in the nation. New York Adoption Code 18 NYCRR 421.16 (h)(2) (2004) states that applicants shall not be rejected solely on the basis of homosexuality, which expressly prohibits discrimination based on sexual orientation when determining who may adopt. According to The†¦show more content†¦(Kahan, 2006) Notice to birthparents was not required, and it is estimated that approximately half the children transported to the west were not actually orphans. (Pfeffer, 2002) Brace was a missionary who wished to remove children of poor Catholic families, and place them in Protestant farming families. (Pfeffer, 2002) The orphan train placements served as a foster care system, without payment to the foster families, and were a cost effective way to manage poor children, in contrast to institutionalizing those who could not live at home. (Kahan, 2006) An outcry against Braces orphan trains in the early 1900s, led advocates of children to the other extreme, in which families were to be preserved at all costs. (Carp, 1998) Rather than split up families, child welfare reformers worked to prevent the factors which caused a family to break up. Reforms resulting from these movements included establishment of the U.S. Childrens Bureau in 1912, creation of juvenile courts, and enactment of Mothers pensions. It was around this time that social work become professionalized, as case workers were utilized in family preservation and prevention. Social workers denounced unregulated adoption, and lobbied for state licensing and supervision ofShow MoreRelatedAdoption With Same Sex Couples1162 Words   |  5 PagesNovember 2017 Adoption with Same-sex Couples Adoption is when a child is removed from their home and are now under protection of another family. They can be related or unrelated to the child. It can be great for children, as they can live a better life than they would have had with their birth parents. The children may have endured abuse or neglect and need to get out of the situation, or the parents could have not thought that they were able to take care of the child. Either way, adoption is made toRead MoreSame Sex Marriage Is The Legal Union Essay1562 Words   |  7 Pages Same-Sex Marriages Same sex marriage, also known as gay marriage is the legal union between two people of the same gender. In the United States only six out of a possible fifty states allow legal same sex marriage making it harder for citizens to have the freedom to live how they choose. HomosexualityRead MoreMy Analysis on Same-Sex Adoption661 Words   |  3 Pagesdictionary. This term does not empower them, but instead make people feel powerless. Same-sex couples in particular, who are looking to adopt, feel unequal to their heterosexual associates. In relation to adoption, there shouldn’t be preference to heterosexual couples over same-sex couples. Adoption typically is not an easy process, but when it comes to people of the same sex trying to adopt, what seems to be as simple as to buying a puppy, is very intimidating and discouraging. The laws that governRead MoreDeath Of A Social Work1648 Words   |  7 Pageshomosexual foster and adoption rights. Each state has their own laws pertaining to adoption. According to a Missouri law review, â€Å"Approximately ten million children are raised by same-sex parents in the United States. As the number continues to grow, more states have enacted legislation to allow same-sex second-parent adopt ion† (Miller,2010, p. 26). At the time of the Brooker case, Missouri offered no way for two same-sex parents to both assert parentage. Based on a Biblical worldview analysis, the conceptRead MoreGay Parent Adoption And Same Sex Adoption1851 Words   |  8 Pages Gay parent adoption or same-sex adoption refers to the adoption of children by individuals who prefer romantic partners of the same sex--gays and lesbians. Same-sex adoption is portrayed by the media as being a potentially good thing but with potentially detrimental side effects, most notably for the adopted children. This type of adoption is often made to look as if it might well be done but perhaps should not be for the sake of the children involved. 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Recognition and legalization of same-sex marriage still falls within the minority rule amongst the states, but will soon be the majority. California , Delaware , Connecticut , Hawaii , Illinois , Maine , Maryland , Massachusetts , Minnesota , New Hampshire , New Jersey , New Mexico , New York , Rhode Island , Vermont , Washington , Iowa , and Washington DRead MoreShould Gay Adoption Benefit Children? Essay2105 Words   |  9 PagesGay Adoption Benefits Children Every single child deserve the chance to be part of a caring, nurturing family. Whether the family has a single mother, single father, or two parents. There are many opportunities for individuals to become the legal guardian (or guardians) of a child. Those opportunities, however, are not as easily accessed for gay and lesbian prospective parents as they are for straight people, and many times, these opportunities are completely prohibited by state laws. Recently,Read MoreShould Gay Adoption Be Legal? Essay1982 Words   |  8 Pages Gay adoption is a very strong topic in today’s world. There are many pros and cons but I see it as an opportunity for children to be out of the government system and into homes. People in today’s world fear change. Its natural human reaction, it seems. If it didn’t work then it isn’t going to work now. Im not saying I agree with everything but I think there are some changes that need to be made. I think people can want children whether they are heterosexuals or homosexuals. With so manyRead MoreAs Times Are Modernizing The Ideology That One Must Be1369 Words   |  6 Pagesone must be what they were born as is no longer a necessity for the individual as before. Prior to 1999 there were very few H.R. transgender policies provided by US employers. 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Profit Education Is A Higher Education University - 982 Words

For profit education is a higher education university that is run and operated by private institutions who receives a profit. In the beginning of 2015, Corinthian College, a large for profit incorporation, was closed for lawsuits of fraudulent statistics of placement rates to jobs after graduating. Placement rates are the jobs that students have received through their degrees, and Corinthian Colleges would advertise the amount of graduates that have been hired in their field. The schools published around a ninety percent placement rate, but in truth, it was a zero percent placement rate. This deception has caused the federal government to step in and close the institutions. As a whole, Corinthian College’s actions set out a reputation for for Profit Colleges in America. For profit education was deemed as a second chance for people who do not have their degree. They were â€Å"targeting so-called ‘nontraditional students’—who are typically older, often have jobs, and don’t necessarily go to school full time† (Surowiecki). A majority of students who attended for profit schools, especially branches of the Corinthian Colleges, fits under this category, and money is a big issue in the atmosphere. The reason students attended Corinthian Colleges is to get their degree faster to have a better income at home, and to find out that their education was a waste of money and time is devastating to some families. In most cases, people ended up with thousands of dollars in federal loan debtShow MoreRelatedThe Education Of Higher Education1075 Words   |  5 PagesInstitutions of higher learning compete amongst each other, enabling them to focus on subjects that do not pertain to education. 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Consequently, problems have arisen from these approach es, addressed along the lines in an article called â€Å"A New Course† by Magdalena Kay, an associate professor of English at the University of Victoria andRead MoreThe Old European Derived Model Of The American University1528 Words   |  7 PagesAlthough the present role of higher education is hotly contested, its origins aren’t. Higher education in the US was created as a way to maintain class distinctions. The old European derived model of the American university was not the center of liberal intellectual curiosity it has evolved to today, but rather a religious haven for students of wealthy families who attended in order to become clergymen. Though the religious presence at these institutions has largely diminished, the overwhelming presenceRead More15 Most Affordable Online Schools1011 Words   |  4 Pages15. Western Governors University Western Governors University has 53 online degree programs to choose from, for an annual tuition of less than $15,000 each. This school offers one of the most affordable online accounting degrees. The annual tuition for the accounting program is $5,780. The Business degree program, also offered at the same price, is one of the most affordable. This public, non-profit school is fully accredited by the Distance Education and Training Council Accrediting CommissionRead MoreBuilding Appropriate Non Credit Programs Within Stetson University761 Words   |  4 PagesStetson University, the oldest private non-profit higher education institution in the state, has begun to investigate and recognize that a well-educated workforce is a vital survival strategy for an economy; leadership recognizes that a well-educated person more actively embraces his or her role as a contributing citizen. 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I know that it’s rather cheaper to do the first two years at a community college rather than going straight to Kinarda university. Each year, tuition is rising and more students begin to take out loans to obtain their educational degree. After doing research I discovered there is a lot that goes in to the price stud ents pay to attend school. Paying for college is like a partnership

Cell Phone History Free Essays

The early years of 20th century saw the first attempts at wireless and mobile telephony, In 1908, U. S. patent 887,357 for a wireless telephone was issued to Nathan B. We will write a custom essay sample on Cell Phone History or any similar topic only for you Order Now Stubblefield of Murray, Kentucky. He applied this patent to cave radio telephones and not directly to cellular telephony as the term is currently understood. Two years later Lars Magnus Ericsson installed a telephone in his car. While travelling across the country we would stop at a place where telephone lines were accessible and using a pair of long electric wires he could connect to the national telephone network.In Europ radio telephone was the first used on the first-class passenger trains between Berlin and Hamburg in 1926. At the same time, radio telephony was introduced on a passenger airlplanes for air traffic security. It was also introduced on a large scale in German tanks during the Second World War. The in early 1950’s ships on the rhine were among the first to used the radio telephony with an untrained end customer as a user. It was the 1940’s onwards that saw the seed of the technological development which would enventually produced the mobile phone.Motorola developed backpacked two-way radio, the Walkie-Talkie and a large hand-held-two way radio for the US military. This battery powered â€Å"Handie-Talkie was about the size of a man’s forearm. In December 1947, Douglas H. ring and W. Rae Young, Bell Labs engineers proposed hexagonal cells for the mobile phones in the vehicles. Philip To Porter also of Bell Labs, proposed that the cell Towers be at the corners of the hexagons rather than the centers and have directional antennas that would transmit/receive.During the 1950’s the expirement of the pioneers started to appear as usable services across society, both commercially and culturally. In 1969, a patent for a wireless phone using an acoustic coupler for incoming calls was issued in US patent. In December 1971, ATamp;T submitted a proposal for a cellular service to the Federal Communications Commission (FCC). A cellular telephone switching plan was described by Fluhr and Nussbaum in 1973.Two-way mobile radios were used in vehicles such as taxicabs, police crusers, and ambulances, but were not mobile phones because they were not connected to the telephone network. Large community of mobile radios users known as mobileers, popularized this technology that would eventually give way to the mobile phone. The first fully automated mobile phone system for vehicles was launched in Sweden in 1960. It allowed calls to be made and received in the car using a rotary dial. The car phone could also be paged. In 1958 development began on a similar system for motorists in the USSR.The Altay national civil mobile phone service. In 1959 a private telephone company located in Brewwter, Kansas, USA, the Samp;T Telephone Company with the use of Motorola Radio Telephone equipment and a private tower facility, offered to the public mobile telephone services in that local area of NW Kansas. Martin Cooper a Motorola researcher and executive, made the first analogue mobile phone call on a prototype model in 1973. There was a long race between Motorola and Bell Labs to produce the first such portable mobile phone.Cooper is the first inventor named on the Radio Telephone System. Other named contributors on the patent included Copper’s boss John F. Mitchell, Motorolas chief of portable communication products, who successfully pushed Motorola to develop wireless communication products. The technological development that distinguished the First Generation mobile phones from the previous generation was the use of multiple cell sites, and the ability to transfer call from one site to the next. The first commercially automated cellular network (IG generation) was launched in Japan by NTT in 1979.The next IG network to launch was the Nordic Mobile Telephone (NMT) system in the Denmark, Finland, Norway and Sweden in 1981. In 1990’s the second generation (2G) mobile phone system emerged primarily using GSM standard. These 2G phone system differed from the previous generation in their use of digital transmission instead of analog transmission. Introduction of advanced and fast phone-to-network signaling. Increase of mobile phone usage was explosive and this era also saw the advent of prepaid mobile phones.The second generation introduced a new variant of communication called SMS or text messaging, It was initially available only on GSM networks but spread eventually on all digital networks. 2G also introduced the ability to access media content on mobile phones. In 1998 the first downloadable ringtone content was launched. As the users of 2G became more widespread and people began utilize mobile phones in their daily lives, it became clear that the demand for data services (such as access to the internet) was growing. G was nowhere near up to the job so the industry began to work on the next generation of technology known as 3G. The main technological difference that distinguished 3G technology is the use of packet switching rather than circuit switching for data transmission. The high connection speeds of 3G technology enabled a transformation in the industry. Media streaming of radio and even television to 3G handset became possible. In the 2000 and evolution of 3G technology begun to implemented namely high speed Downlink Packet Access. The first such devices known as â€Å"dongles plugged directly into a computer through the USB port.Another device appeared subsequently, the so-called â€Å"compact wireless router† such as Novatel MiFi which makes 3G internet connectivity available to multiple computers simultaneously over Wi-Fi. The device became popular for use with laptop computers due to the added portability they bestow. One of the main 4G differed from 3G was in its elimition of circuit switching, instead employing an all-IP network, 4G ushered in a treatment of voice calls just like any other type of streaming audio, media, utilizing packet switching over internet. How to cite Cell Phone History, Papers

Theory and Practice Business Financial management

Question: Discuss about the Theory and Practice for Business Financial management. Answer: Introduction Genting Malaysia is a private company that came into force in 1980 but soon was converted into a public company in 1989. The organization of Genting Malaysia and Genting Berhad went through a restructuring phase by getting into a merger (Gentingmalaysia.com, 2016) Genting Malaysia Berhad is a partnering firm that is mostly involved in leisure as well as partnership business. However, it has been recently collaborating with American film studio to open a theme park, which is set to open up in early 2017. However, there is a need to develop a business plan that needs to be established in accordance with the internal team so that the viability of the new strategy is established in new partnership (Burns, 2014). Summary of Business Department Twentieth Century Fox is collaborating with Genting Malaysia Berhad to open a theme park that is film-inspired in the early 2017. Moreover, it ought to bring an overall new experience of entertainment with magic as well as adventure. The theme park adds to the marketing and growth of increasing globalisation. The business department of Genting Malaysia is required to redesign the total allocating operating expenses with the efforts made in different departments to establish the identity of the industry (Mitrasinovic, 2006). Nevertheless, it is important that a business department analyses all the opportunities, relationships and the profitability of the venture. Moreover, there should be proper planning, scheduling and management of directions and operations such as production, finance, human resources and administration (Wheelen Hunger, 2011). Although, business department of Genting Malaysia Berhad will maintain business network but will also initiate participation from Twentieth Century Fox. Problem Statement The problem statement highlights the concept of weaknesses and threats that the company is facing in micro as well as macro environment. The following problems that highlight the growing nature of Genting Malaysia for a theme park in collaboration with 20th century fox are on the issue of marketing and promotion that is not able to capture the local as well as international market based target segmentation. The third issue is the workforce that is not able to meet the business requirement which is turn is hampering the sustainability and the satisfaction of the customers. On the other hand, the threats the company has been facing is the risk from the international environment based on the new infrastructure followed by competition from the international competitors in entertainment and the current economic situation that is incurring more development as well as operational cost on the pricing system (Genting Malaysia, 2015). However, there is a need to devise policies that not only f urther increase the market share but also helps in implementing those strategies like operational and marketing strategy. Objectives The objectives that have been highlighted in the proposition of the new strategy are the following. To develop a business strategy that is performance oriented and made parallel with the vision and mission of the company. To increase the productivity in every department through implementation of policies that has been focused on increasing the motivation of the employees. To provide every department a clarity on the organization goals by implementing policies To develop a competitive strategy which will adapt to meet the sustainability position of the company in alignment with the each problem that is highlighted in the problem statement. Internal Strategy SWOT Analysis Strengths Strategic location (Derrick Soren, 2010) Infrastructure (Marmon, Shaun Elizabeth, 2009) Strong brand name (Riley Michael, 2006) Weaknesses Promotion (Ramon Joan, 2011) Marketing (Hoyland, Robe, 2006) Workforce (Ariely, Kathleen Vohs, 2009) Opportunities New venture (Derrick Soren, 2010) Tourism (Ramon Joan, 2011) High Revenue Threats Financial Risk (Derrick Soren, 2010) Competitive (Marmon, Shaun Elizabeth, 2009) Economic (Ramon Joan, 2011) Strength Strategic Location The major strength has been strategic location of the company because Malaysia itself has been known for education and one of the prominent locations in Asia region for business. Malaysia has also one of the strong tourism destinations that not only strengthen the encouragement to new venture but also is the best place for 20th century fox to start up a new venture (Burack, Elmer, 2008). The partner of Genting Malaysia with 20th century fox comes under the high ranked hospitality and leisure corporations. Both the corporations have been listed on Malaysia Bursa with $7.7 market capitalization. However, with incorporation of new venture, the organization has been investing $300 million in 20th century fox supplementary to the casino that has been operational since 35 years based on Resorts World Genting destination (Brzeski, 2013). However, the new venture is a feasible dealing in gaming, as it will highlight the marketing perspective of the organization. Infrastructure The infrastructure holds strategic importance because on a yearly basis, the organization has been updating its technological spheres as per the requirements that have to be met by the technological interface on the global level. Although, the technology upholds and is referred to as the backbone of Genting Malaysia Berhad infrastructure the information communication also substitutes to provide an essential base. The organization has been known for tourist attraction as well (Lisa Bolton, 2010). The infrastructure of the company is well accustomed with communications, transports and also in accordance with the accommodation in international standards (Yan, et al., 2013) which means that the research and development management of the organization is an added advantage. Overall, the company offers five hotels namely Maxims Genting, Highlands Hotel, Theme Park Hotel, Resort Hotel, and First World Hotel. These hotels comprises of more than 8,000 rooms, 50 fun rides, 200 shopping and dining outlets. Out of the five, First World Hotel is the worlds largest hotel accompanying casino, beverage and retail shopping, concert shows and theme parks (Derrick Soren, 2010; Burack Elmer, 2008). It has seaside properties that not only provides a strong presence in tourism but also internally upgrades the profit and revenue level of the group. Strong Brand name The group holds a strong brand value due to its marketing strategies that strengthens the customers perception (Stephen, Robbins Bruce Millett Terry, 2004). An organization is only known through the brand value it creates and the business strategy that it adopts to maintain the recognition level till a later stage (Kapferer, 2012). The brand name holds to be a reason for any new venture like 20th century fox to stand internationally in a competitive market for the companys revenue achievement (Ramon Joan, 2011). Weaknesses Promotion The company has not been an active participant in promotional activities because as depicted in annual report of the company, it has been incurring losses such that the debts have increased from 1618RM million in 2014 to 4624RM million (Lisa Bolton, 2010; Stephen, Robbins Bruce Millett Terry, 2004). The business functions on the normal system and does not have any additional promotional system that could benefit the company. Moreover, promotion is an important criterion when it comes to entertainment industry so that more customers as well as the markets are involved (Aaker Joachimsthaler, 2012). However, this creates a major impact on the income growth of the Genting Malaysia Berhad group and company. Solution: The Genting Malaysia Berhad should adopt different promotional techniques in marketing like sales promotion, advertisements in social media and digital marketing followed by word of mouth expression. However, opting social media marketing will capture the Generation Y that will not be confined to local but will go global as well because theme parks on gaming is [popular among kids, teenagers and young adults. On the other hand, management should adopt different packaging styles. Marketing The marketing of the Genting Malaysia Berhad is weak and has not been able to match up with the growing needs because the company has not developed a proper marketing strategy based on target segmentation and positioning. However, marketing techniques are not affective to the local and international market because according to the annual report 2015, the revenue is termed to be lower and has not increased substantially from 2014. As depicted in 2014, 5185.6RM million to 5345.8Rm million in 2015 as it only accounts to be a change of 3.64% that is considered negligible when there is a need to invest in the new venture with 20th century fox (Genting Malaysia- Annual Report, 2015). Solution: There is a need for adoption of proper marketing methods that can enhance the companys globalization strength. The new ventures will enable new technology like electronic and information technology through electronic hoardings, publicity in a mall theatre that will help in advertisement of the theme park with 20th century fox (Lisa Bolton, 2010; Stephen, Robbins Bruce Millett Terry, 2004). Even more, new innovative technology like unmanned (remote controlled, remote guided or autonomous) flying objects in the air which is lighter than air machines, amazing concept of art using 3D technology, aerial buttons to create laser ionizing of the molecule to display in air, kinetic lights as well as series of winches of light bulbs that can move up and down such that each light can represent a timing that can be programmed with music (Young, 2015).However, adoption of marketing based on geographical area will spread the idea of theme park to the customers. However, marketing throu gh different partners will attract more customers as well as existing customers in response to the companys loyal customers. Lastly, the segmentation needs to be identified in the target segmentation so that it does not remain a challenge in the marketing management (Ramon Joan, 2011). Workforce The rate of turnout of workforce in the organization pertaining to human resource management has been more because the company does not give sufficient benefits. As a result, it is considered to be a big issue because event management requires more of manpower (Burack, Elmer, 2008; Lisa, Bolton, 2010). Ultimately, the lack of workforce results in uncompetitive business operations. Solution: The new venture of Genting Malaysia Berhad is in need of skills, experience and technology because the workforce strength is equally important as technology to manage the 20th century fox for venture. However, whether the system will lead to effectiveness or not directly depends on the strength of the workforce (Hoyland Robe, 2006; Riley Michael, 2006). Nevertheless, there is effective need to provide proper benefits to sustain the workforce. Moreover, with changes made in the existing structure, there is a need to establish diversity with employment benefits and rewards to maintain sustainability in the organization. Opportunities New Venture Any new venture that uplifts the condition of the organization is considered to be a boon for the organization which not only brings more income or enhance revenue but also attracts the target market of international and domestic customers (Marmon Shaun Elizabeth, 2009; Stephen, Robbins Bruce Millett Terry, 2004). In all, the new venture, also affects the changes in the organization in accordance with the needs of the current generation, which makes Genting Malaysia Berhad competitive enough to improve its growth in future. Moreover, the company enters into a new venture to diversify its new business in the four categories namely organizational, economic, strategic and political. Organizational factor helps in competence and learning building that not only helps in internalization of tacit but also improves performance with legitimation. Economic factors helps in sharing cost and pooling of resources. There is marginal risk reduction as well as risk diversification and obtaining economies of scale. Strategic factors helps in competitive shaping by gaining access to new products and technology and following the bandwagon effect through industrial trends. Political factors helps in market development while overcoming legal and regulatory barriers (Kaats Opheij, 2013). Tourism The tourism in Malaysia is an added advantage to Genting Malaysia Berhad because of the continuous development in business, infrastructure, education and food. That adds volume to the new venture. Overall, Malaysia has become one of the largest countries in Asia ranking in first 5 positions on 2017 on the principle of the global financial crisis (Hoyland Robe, 2006; Riley Michael, 2006). It cannot be overlooked that Malaysia is a country with promising potential. However, rigid management system is considered to be better than the changes in demand and supply forces in a developing country for the continuous growth in the government sector as well. Moreover, tourism opens the door to rest of the people because the country is multicultural, multilingual and multi colored country and mainly contain Malayan, Indian and Chinese population (Hoyland Robe, 2006; Burack Elmer, 2008). Furthermore, the citizen possesses high economic capability and purchasing power to travel around the wor ld. Revenue The new venture can boost the revenue performance of the company as it is more attractive and related to and possess new rides and entertainments for generations. However, to adapt to the new strategy company needs to invest additionally 400 million to replace the old theme park Resort World Genting, Genting Highlands that had been started in 2016. Chairman and CEO Tan Sri Lim Kok rightly said that the supplementing to the total investment, investment of 3 billion has been made on refurbishment programme that includes additional 1300 rooms with First World Hotel (Derrick Soren, 2010; Lisa Bolton, 2010). However, international tourism has been increasing and Malaysian government is actively promoting tourism industry such that both the factors combine together to give an excellent opportunity to the organization, Genting Malaysia Berhad (Hall Page, 2014). Threats Financial Risk The companys financial risk is the huge investments that the company is investing in the new venture. The investment done on infrastructure and changed outlook of the theme park still pose a great threat to the organization as it can be counted in the immediate risk (Ramon Joan, 2011). The company maintains a conservative capital structure and a healthy profile with the strong cash flow position that is measured with acquisition growth. However, the funds generated from operations averaged to 64% in the last three years which terms to favorable when compared with peers industry (Hoyland Robe, 2006; Burack Elmer, 2008). In contrast with Star Cruises, the Genting Malaysia Berhad is facing issues because the three year averaged debt of Star Cruise is only 32.4% with interest cover amounting to 10%. Moreover, the main revenues and costs are the labour and materials that ensures high risk if it is not considered to be economically viable. Solution: The Genting Malaysia Berhad needs to identify its finance allocations so that corrective measures can be taken accordingly on planning, designing, testing and installations. The perfect financial analysis will always minimize the risk while measuring the feasibility of particular investments on technology (Marmon Shaun Elizabeth, 2009; Ramon Joan, 2011). However, the partnership with 20th century fox is important so that proper financial allocations are done that are essential to predict revenues. In addition, the financial risk can be mitigated if the more of fixed costs are changes into variable costs which will not only lower the breakeven point but will also reduce the likelihood of failures due to the lower anticipated sales (Brigham Ehrhardt, 2013) Competitive Environment The competition is rising and the main competitors that Genting Malaysia Berhad is facing from Singapore and Hongkong entertainments (Lisa, Bolton, 2010). The basic competitive factors include promotion, packaging and other related advantages. However, the ganmong market of Singapore and Macau is also facing tough competition. Nonetheless, Genting derives most of its revenue from the steady grind market at home, which is more resistant to competition (Ramon Joan, 2011; Lisa Bolton, 2010). However, SDingapore has schedules development of two resorts and casinos that can divert the cutomers attention which may impact the tourism in Malaysia. Singapore leader announced that the potential developers would therefore be asked to submit bids that will be applied to integrated resorts at Marina Bayfront and Sentosa. Solution: It is important that the company recognizes its immediate competitor so that essential strategies can be constructed for competitor strength assessment for business (Hoyland Robe, 2006; Ariely Kathleen Vohs, 2009). Therefore, the strategy that needs to be undertaken is in relevance to competitors by the pricing and promotional systems and attractive events. Economic Position The current economic position is not beneficial for the company to enter into a new venture because the developmental cost is high (Ariely Kathleen Vohs, 2009; Ramon Joan, 2011). However, with more additional technology, systems and manpower the budget may rise and may result in unfavorable position of the cost. Solution: The new business needs to understand the customers as well as the pricing systems on the GST. Moreover, other operational cost needs to be effective on customers so that the packages made are efficient and attractive and could also cover the cost of the company. Implementation Strategy The management needs to decide the customers service towards mar4keting mix which holds important for Genting Malaysia Berhad entertainment business. The customer service needs to effective so that the business can be influenced for long term (Marmon Shaun Elizabeth, 2009; Burack Elmer, 2008). Although, the new business will attract customers but will require proper effective service system which is essential for the Genting Malaysia Berhad entertainment business Marketing Research Marketing is one of the concepts that need to be helpful in increasing the revenue of the company. The challenges of the organization are to analyse the marketing mix effectively that specially highlights the price, promotion and services (Ramon Joan 2011; Lisa Bolton, 2010). However, as a matter of fact any organization, in this case Genting Malaysia Berhad would require different strategies to be applicable for the new business. Product design and product introduction are the two main challenges that the manager needs to look forward to; followed by the way the new product serves the customers (Li, et al., 2013). However, marketing management strategies and tools are important to be implemented on customer service for the new product in the new business with standard product quality and product availability (Marmon Shaun Elizabeth, 2009). Price marketing strategies like cost plus, demand based, skimming, penetration and competitor indexing with discounts and allowances will be helpful. However, the implementation will be valuable responsibilities will be assigned with incentives and training methods of the employees. The month by month agenda with adjustment mechanism can be one strategy that will keep a track of the program evaluation of the theme park (Fleisher Bensoussan, 2015).Overall pricing system poses a challenge because it directly relates to the market strengths of the company (Derrick Soren, 20 10). However, the price structure adopted needs to be competitive in nature. On the other hand, the Genting Malaysia Berhad new venture with 20th century fox business management requires recognition in the community talks so that the communitys message can be spread through word of mouth to attract more customers in the new business (Riley and Michael, 2006). The other factor physical evidence also plays a crucial role because the promotional activities done through social media marketing will enable their feedback in evaluating the product to attain maximum customer satisfaction (Lovelock, Patterson Wirtz, 2014). Operations Strategy The operations strategy primarily focuses on role of the people, skills and customer service that are significant in a new venture. Therefore, the company should indulge in activities like training and upgrading the new staff acquired through recruitment and selection. However, on account of delay in customer service, certain strategies needs to be undertaken that accounts to serve customer service efficiently (Derrick Soren, 2010; Ariely Kathleen Vohs, 2009). The strategies that can be taken in building a strong customer service are training employees with proper knowledge of the product in this case the theme park and its aspects of service charges, ticket, etc. Secondly, the customer service should be build with proper infrastructure like ticket tracking, call-backs and FAQs; thirdly, solving the query of the customer at the first point through live chat support contact or feedbacks through emails or phone calls. Lastly, the organization should make it a point to deliver on prom ises and making it personal through apologies to customers for delay in work and asking for feedbacks for future assistance (Kansky, 2012). Conversely, if the customer service is served properly then it may enhance the value for the long-term business. However, delivering without delay should be the basic motive of Genting Malaysia Berhad entertainment business. Customer needs should be served with top priority for the company (Ramon Joan, 2011; Stephen, Robbins Bruce Millett Terry, 2004). Nonetheless, the company needs to implement different strategies, process and techniques in different departments to enhance the customer service quality at all levels. The operational strategy highlights that the partnership should follow a unique trajectory that only increases the likelihood of success but also reflects the decisions made in agreement based on strategic alliance (Johnson, et al., 2015). On the event of venture, the key element that needs to be included is as following. Strategic goals and objectives The goals of the new venture on the theme park should be shared as well as individual such that decision undertaken should be in collaboration with each other bit there should be no interference of the allotted task to each other from the other party. There should be level of required institutional commitment from each of the two partners that is 20th century fox and Genting Malaysia Berhad. Roles and responsibilities should be shared by utilizing each others strength to draw the core complementary competencies (van Tulder Pfisterer, 2013). Specific Commitments should be made on agreed roles and different departments needs to be allocated according to the resource abilities from each other such as no one firm is responsible for any work. Decisions making principles and processes are done through the strategic alliance in Malaysia that is primarily done to gain capabilities that not only accompanies expansion but also incorporates the benefits of knowledge, technology and expertise. In addition, as this strategic alliance is based on joint venture in Malaysia where contractual negotiation is active such as each partner namely 20th century fox and Genting Malaysia Berhad will refine their roles according to their contribution and rewards as well as protect and proprietary information based on the degree of arbitration procedures (IoraitÄ—, 2009) Mechanisms of accountability in the strategic alliance acts like partnership were boards, adherence to codes of conduct, oversight committees and accounting standards need to be met. Suitable channels for propagation of outcomes should be carried out as the decisions made are confidential and there should be sense of privacy in the joint decisions made with the top management. The procedure of communication or resolving disputes with each partner of organization should be followed through a proper procedure (Osterwalder Pigneur, 2013). Viability Assessment The viability assessments can be achieved when there is operation and performance evaluation criteria that could be characterized by higher level of commitments, collaboration and communication (Ray, 2013). Figure: Factors influencing strategic alliance Source: (Ray, 2013) Management Strategy The management strategies undertaken in this new venture should solve different issues like finance allocations, time managements, operation managements, and inventory management. The management strategy at each step will overturn the new ventures weakness to strengths and the threats identified could be minimized (Ramon Joan, 2011; Ariely Kathleen Vohs, 2009). However, the management strategies may also serve as a benchmark in solving political and economic challenges and situations. The management strategy is specifically aligned for the senior line managers and executives that are directly responsible for cross company collaborations. Moreover, they are responsible to take care of the day-to-day operations taking place in the new venture (Vachon, 2012). The management strategy on customer service can be applied through promotional strategy for every category of customers. Hence management challenge is promotion implementations at Genting Malaysia Berhad entertainment business (Hoyland Robe, 2006; Riley Michael, 2006). In addition, the time taken for the promotional strategy to serve the new venture of Genting Malaysia Berhad and 20th century fox is also important. The promotion strategies like advertising, theme, media, sales promotion, publicity, product relations and word of mouth marketing will extend the business to be known. The electronic promotion through direct as well as e-marketing will provide effectiveness in the strategy. On the other hand, promotion place of the product on various platforms also terms to be significant to attract local and international customers (Ariely, Kathleen Vohs, 2009). However, the other promotional platform can be social search engines that can be beneficial for magnetizing the potential customers as well (Atras Lykova, 2013). References Aaker, D. A., Joachimsthaler, E. (2012).Brand leadership. Simon and Schuster. Atras, A. Lykova, A., (2013). Driving the markets in the 21st century: How to enhance proactive market orientation using social media. Brigham, E., Ehrhardt, M. (2013).Financial management: Theory practice. Cengage Learning. Burns, P. (2014).New Venture Creation: A Framework for Entrepreneurial Start-Ups. Palgrave Macmillan. Fleisher, C. S., Bensoussan, B. E. (2015).Business and competitive analysis: effective application of new and classic methods. FT Press. Genting Malaysia. (2015).Annual Report 2015. Available at: https://www.gentingmalaysia.com/annualreports/2015/17.pdf [Accessed 1 Jun. 2016]. Genting Malaysia. (2015).Sustainability Report. Available at: https://www.gentingmalaysia.com/annualreports/2015/12.pdf [Accessed 30 May 2016]. Gentingmalaysia.com. (2016).Genting Malaysia Berhad - Profile. Available at: https://www.gentingmalaysia.com/profile.htm [Accessed 30 May 2016]. Hall, M. C., Page, S. J. (2014).The geography of tourism and recreation: Environment, place and space. Routledge. IoraitÄ—, M. (2009). Importance of Strategic Alliances in Companys Activity.Intellectual Economics,1(9), 39-46. Johnson, G., Whittington, R., Scholes, K., Angwin, D., Regnr, P. (2015).Fundamentals of strategy. Pearson. Kaats, E., Opheij, W. (2013).Creating Conditions for Promising Collaboration: Alliances, Networks, Chains, Strategic Partnerships. Springer Science Business Media. Kansky, M. (2012).7 customer service strategies to help you beat the competition.LiveHelpNow Blog. Retrieved 9 June 2016, from https://blog.livehelpnow.net/7-customer-service-strategies-to-help-you-beat-the-competition/ Kapferer, J.N., (2012).The new strategic brand management: Advanced insights and strategic thinking. Kogan page publishers. Li, Q., Maggitti, P. G., Smith, K. G., Tesluk, P. E., Katila, R. (2013). Top management attention to innovation: The role of search selection and intensity in new product introductions.Academy of Management Journal,56(3), 893-916. Lovelock, C., Patterson, P.G. Wirtz, J., (2014).Services marketing. Pearson Australia. Mitrasinovic, M. (2006).Total landscape, theme parks, public space. Ashgate Publishing, Ltd.. Osterwalder, A., Pigneur, Y. (2013).Business model generation: a handbook for visionaries, game changers, and challengers. John Wiley Sons. Ray, S. (2013). Strategic alliance in India under globalized economic scenario.Advances in Asian Social Science,4(2), 824-835. Vachon, C.J. (2012). Scratch My Back, and I'll Scratch Yours: Scratching the Surface of the Duty of Care in Cross Sector Collaborations--Are For-Profits Obligated to Ensure the Sustainability of Their Partner Nonprofits?.Hastings Business Law Journal,8(1). van Tulder, R., Pfisterer, S. (2013). Creating Partnering Space.Social Partnerships and Responsible Business: A Research Handbook, 105. Wheelen, T. L., Hunger, J. D. (2011).Concepts in strategic management and business policy. Pearson Education India. Yan, Y., Qian, Y., Sharif, H., Tipper, D. (2013). A survey on smart grid communication infrastructures: Motivations, requirements and challenges.Communications Surveys Tutorials, IEEE,15(1), 5-20. Young, J. (2015).Cool New Technology That Could Come to a Theme Park Near You! - Theme Park University.Theme Park University. Retrieved 10 June 2016, from https://themeparkuniversity.com/theme-parks-101/cool-new-technology-that-could-come-to-a-theme-park-near-you/