Enhancing Employee Job Satisfaction Essay

1.Executive Summary Communication problems often become apparent due to their consequences. If a department suffers from high staff turnover, this often can be a sign of poor communication between and supervisor and the team. If the team doesn’t understand what is expected from them, received unclear instructions or is not sure about the overall strategy and why they are asked to do what they do – all issues down to poor communication – they often feel dissatisfied and this can result in employees leaving the business after a relatively short period of time. Another cause that can justify reviewing if there are any departmental communication problems is low motivation, productivity and poor business performance. If staff does not receive the information they require or do not feel appreciated, valued and kept informed they might not go the ‘extra mile’ for their employer. They might feel frustrated and can’t see the point of what they are doing and this in turn leads to poor performance. Open and regular disagreements between managers and the team, such as open conflict or rejected appraisals, are also a clear sign of communication issues and should be looked into. But suspecting that a departmental issue is down to poor communication is not sufficient to bring improvement about. Once you suspect that there are communication problems how do you find out for sure enabling you to target them? A good method of identifying if there are communication problems is to talk to the involved parties and try to gain an understanding about their opinion. Why do they think the department underperforms? Do they feel they get all the information and feedback they need to do the job? What would they change if they could? Are their opinions heard and accepted? I is important to keep this feedback confidential in order to ensure that honest feedback is received – either through anonymous surveys or through individual conversations with a neutral party such as an HR manager. Another method is to question staff about the things they should know, e.g. how their work fits in with the business strategy and why they do what they do. If they are not able to answer these questions, it is likely that communication is insufficient or ineffective. Identifying communication problems between managers and staff can be easily identified using above suggestions. By rectifying these major positive impacts on business performance and employee satisfaction can be achieved. A final suggestion on how to identify communication problems between managers and staff is to observe how both parties interact. Are conversations kept courteous and respectful and show trust or are they sharp and without showing signs of a good relationship. Body language should also be observed to identify if both parties listen to each other and communicate effectively or if information is not taken in and heard or offered effectively. A review of the key communication channels used can also be very valuable, e.g. email should be used for clear step to step instructions to ensure understanding, but at the same time direct communication face-to-face or per telephone is needed to ensure a relationship is developing and queries can be easily resolved. 2.Background of the study To avoid the consequences of job dissatisfaction. Employees lack motivation, perform poorly and possess negative attitudes means that they are dissatisfaction on the jobs. These symptoms can directly affect a company’s profit and vision. We should understand the reasons why employees are unhappy at work. Understanding the causes can help us find the right solutions. To improve employee motivation and performance, we wonder how to get employees to work with a higher degree of effort. What motivates an employee to perform varies from employee to employee. Some people work to satisfy needs, meet goals or fulfill accomplishments. Motivation to perform is not a rule that can be enforced; it comes from within the employee. To inspire motivation, we must create a work environment that encourages employees to feel motivated. Improve employees’ engagement to prevent unhappiness, turnover and even profit declines. To improve teamwork, is to realize the importance of teamwork and become proactive about having colleagues work together as an important element of the business. We need to improve and enhancing employee’s job satisfaction, engagement, collaboration and teamwork to resulting in increased productivity. Employees are a company’s livelihood. How they feel about the work they are doing and the results received from that work directly impact company’s performance and, ultimately, its stability. For instance, if employees are highly motivated and proactive, they will do whatever is necessary to achieve the goals as well as keep track of performance to address any potential challenges. Employees have low motivation is completely vulnerable to both internal and external challenges because its employees are not going the extra mile to maintain the company stability. An unstable ultimately underperforms. 3. Introduction and background of Hotel 3.1 Introduction & background of Hotel We are one of Hong Kong’s best designed hotel are perfect choice for travelers who demand the best short term stay and long term accommodation. Since we opened in 1997, our hotel in central Hong Kong has been recognized by guests and the hospitality industry for its outstanding performance. The 350 guest rooms are all tastefully furnished and are completed direct telephone line with voice mail. Our equipped kitchenettes include microwave, induction cooker and refrigerator and broadband internet access are available in our hotel. Location Situated in the heart of Hong Kong Island, superbly located in the mid-levels commanding spectacular views of Hong Kong Island and Victoria harbor. It is also a prestigious address that enjoys the proximity to prime business districts of Central and Admiralty. Attraction The Hong Kong Park and Botanical Garden are in the proximity, with lush greenery and ample open space nearby Central MTR station and Hong Kong’s popular nightspot Lan Kwai Fong are also within 10 minutes walking distance. Well connected by public transport to the main shopping district areas, Causeway Bay Hong Kong. It is perfectly located in an area with a mix of history, art & culture, and a touch of stylish contemporary. Antique shops, art galleries and designers boutiques scattered around, together with high rise office buildings, massive shopping centre and party venues of Lan Kwai Fong and SoHo. 3.2 Hotel Structure The Hotel structure that’s split into two basic groups: administrative and operations. The administrative side of the structure includes such departments as sales and marketing, accounting and human resources. The operations side is generally split further into food and beverage and rooms. Both administration and operations report to the general manager. The administrative group is fairly straightforward. Any function that does not consistently interact with the guests or impact the service level falls into this group. The operations group is a bit more complicated. Food and beverage, for instance, might include the hotel’s restaurants, bars, nightclubs, banquets department, catering department and sometimes room service. Rooms might include the front desk and front-door personnel, housekeeping, concierge, guest services and sometimes security and engineering. Human Resources Department The human resources department plays a vital role in a hotel’s efficient operation. The functions of the human resources department are employee recruitment, benefits administration and training. Although the human resources department recruits, interviews, and screens prospective employees, the final hiring decision rests within the department in which the potential employee will be working. Accounting Department The accounting department’s responsibilities are include recording financial transactions, preparing and interpreting financial statements and providing the managers of other departments with timely reports of operating results. Other responsibilities, carried out by the assistant controller for finance, include payroll preparation, ac-counts receivable, and accounts payable. Rooms Department Responsibilities of the rooms department include reservations, guest reception, room assignment, tracking the status of rooms (available or occupied), prompt forwarding of mail and phone messages, security, housekeeping of guest rooms and public spaces such as lobbies, and answering guests’ questions. This very department provides the services guests expect during their stay in the Hotel. The front office is usually considered one of the most important departments in a hotel because that is where the most interaction with the hotel guests takes place. Frequent and consistent communication among front-office functions is critical. Reservations, for instance, must communicate with the front desk each day about the number of rooms that have been presold. The front desk must communicate with housekeeping staff members to let them know when guests check out. Management for all front-office departments must stress consistent and frequent communication to ensure a smooth-running operation. The housekeeping department is vital to attracting and keeping guests through its role of maintaining top quality decor, cleanliness and service. The housekeeping department includes many roles in the service staff of a hotel. Aside from room attendants, who tend to room cleanliness, the department includes gardeners, maintenance men, bellhops, laundry staff and floor managers, as well as, occasionally, customer service professionals. Food and Beverage Department Food and beverage department is to provide food and drink to a hotel’s guests. Arrange multiple events scheduled for the guest. A coffee shop, gourmet restaurant, room service, banquet halls and function rooms where food and beverages are served. This department is an integral place in the hotel which is responsible for the systematic and the actual Service of food and beverage to the general public or customers as per the order in any F &B outlets. Marketing and Sales Department The marketing and sales department’s managers who make up the marketing and sales department are sales, or the selling of the hotel facilities and services to individuals and groups. Sales managers sell rooms, food, and beverages to potential clients through advertising, attendance at association and conference meetings and direct contacts. The marketing and sales department is also removed from most of the day-to-day operational problems faced by other departments. The division of work among the sales managers is based on the type of customers a hotel is attempting to attract. Engineering Department The engineering department’s responsibilities include preventive maintenance; repair; replacement; improvement and modification to furniture, fixtures, and equipment; and ensuring uninterrupted provision of utilities (gas, electricity, water). Preventive maintenance involves routine checks and inspection of the key components of all equipment. Maintenance of recreational facilities may be part of the engineering department’s responsibilities. the engineering department’s responsibilities include preventive maintenance; repair; replacement; improvement and modification to furniture, fixtures, and equipment (FFE); and ensuring uninterrupted provision of utilities (gas, electricity, water). Organization Chart – Appendix I 4.Methodologies 4.1 Questionnaire (anonymous) A staff questionnaire is an effective tool used to find out what the employees feel about the organization, it policies, work environment, job responsibilities, co-workers, superiors etc. In any work environment, it is important for the upper management to be aware of what its staff wants and expects; this will lead to better retention of employees and a mutually productive relationship between the staff and the boss. Staff questionnaires to discover what are employees really thinking. These are completed on an anonymous basis usually once or twice a year. Because the employees can’t be identified we are more likely to get honest answers. This information can be revealing; it may also help to tackle hidden problems quickly and, more importantly, before staff gets blown out of proportion. Sample of Questionnaire – Appendix II 5.Analysis & finding of current problems 5.1Problems in communications Some employees might also be afraid or not feel comfortable to speak up about problems they are having with other co-workers. Some employees might think that if they speak up about trouble they are having they will be frowned upon for future projects. 5.2Employees initiative and commitment Some employee not willing to handle multiple tasks, responsibilities and take on new challenges. Hidden interest in and no enthusiasm for the job and completes assignments slowly and non-efficiently. Not able to adapt to new situations and changing work priorities and responsibilities when needed. 5.3Employee job dissatisfaction Staff expects to get a commensurate reward. The wage should be fair, reasonable and equitable. Employees who feel stuck in their job position are less motivated to maintain high productivity. Managers with poor leadership skills tend to offer little feedback on employees’ performances. 5.4Inter-department conflicts A manager or employee will know an important piece of information, and assume that because he knows it, then everyone else must know it as well. 5.5Employees’ behavior Employees feel threatened by fellow employees, experience workplace burnout, lack respect for management and feel unappreciated. 6. Conclusion Businesses without effective staff communication suffer from lost profits, poor productivity and poor employee morale. In order to solve many business problems, employees need to be able to collaborate and cooperate effectively. Good communication can encourage employees to work harder, solve problems together and work towards a common goal. It is the job of every supervisor, manager or boss to make sure employees are communicating effectively. If a department suffers from high staff turnover, this often can be a sign of poor communication between and supervisor and the team. If the team doesn’t understand what is expected from them, received unclear instructions or is not sure about the overall strategy and why they are asked to do what they do – all issues down to poor communication – they often feel dissatisfied and this can result in employees leaving the business after a relatively short period of time. Another cause that can justify reviewing if there are any departmental communication problems is low motivation, productivity and poor business performance. If staff does not receive the information they require or do not feel appreciated, valued and kept informed they might not go the ‘extra mile’ for their employer. They might feel frustrated and can’t see the point of what they are doing and this in turn leads to poor performance. Employees feel dissatisfied with their jobs at one point or another. Some employees leave their jobs for better opportunities, while others choose to stay. Employees with low job satisfaction can negatively affect a company because they typically lack motivation, perform poorly and possess negative attitudes. These symptoms can directly affect a company’s bottom line. Managers should understand the reasons employees are unhappy at work. Understanding the causes can help managers find the right solutions. One of the primary reasons for job dissatisfaction results from companies underpaying workers. The stress of paying bills with limited income causes many workers to feel dissatisfied with their jobs. A lack of career growth and advancement is another reason why employees are dissatisfied at their jobs. Employees who feel stuck in their job position are less motivated to maintain high productivity than those who do not. Workers feel valued when employers include them in their long-term plans and show their appreciation through promotions. Employees who move up in an organization and receive just compensation to reflect their title and responsibility changes usually commit themselves to the company for the long term. A lack of interest in the work is another reason why employees are unhappy. Most employees want to perform job duties that are engaging and challenging. Monotonous work causes an employee to experience boredom. Bored and unchallenged employees experience little incentive to concern themselves with workplace productivity. The nature of employees’ work accounts for the most situational influence in workplace satisfaction. A key reason employees perform poorly in the workplace is poor management. Managers with poor leadership skills tend to offer little feedback on employees’ performances. Micromanaging and dictating to employees instead of motivating them can cause a decrease in employee productivity. Poor communication is one of the main causes of conflict between employees in the workplace. This can result in a difference in communication styles or a failure to communicate. For example, a manager reassigned an employee’s task to the employee’s co-worker but failed to communicate the reassignment to the employee. This may cause the employee to feel slighted, which can transform into animosity among the two employees and the manager. Failing to communicate in the workplace may cause employees to make incorrect assumptions and believe workplace gossip. Poor communication in the workplace not only causes conflict but decreases productivity and employee morale.

Gender Schema Theory Essay

Martin and Halverson suggested an alternative to the cognitive-developmental approach proposed by Kohlberg and called it the gender schema theory. In Kohlberg’s theory, children must reach gender consistency before they are able to begin imitating the behaviour of same sex role models. In gender schema theory the early gender identity acquired at about the age of three is the starting point to which children will then begin to look for schemas, schemas are packages of organised clutters of information about gender-appropriate behaviour and children learn these schemas by interacting with people, such as learning which toys to play with, which clothes to wear etc. and these help children to make sense of the world around them and help children to organise their experiences and process new information and also to help self-evaluate themselves, this is to help them feel good about themselves. Support for the gender schema theory was conducted by Martin et al 1995 who showed toys to children aged four to five. Children were informed, before choosing a toy to play with that it was either a girls toy or a boys toy, they were then asked whether they and other boys or girls would like to play with the toys. They found that if a toy, such as a magnet, was given the label of being a boys toy then only boys would play with it. However if boys were told that it was a girl toy then they didn’t want to play with it. Similarly girls would not play with toys labelled for boys. The label given at the start consistently affected the children’s toy preference. It is an important finding in that it highlights the labelling and the categorisation of objects that children are subjected to from a young age, and how their toys can be labelled in the same way as appropriate gender behaviour. A limitation of this research is that an observation of the children and although it has high ecological validity as it is in a real life setting, the children may have shown demand characteristics as the toys were stereotyped for their gender it is questionable if they had guessed the aim of the research and the results may have been due to the children trying to please the researcher as they may have thought they would get punished for choosing the wrong gendered toy to play with and how much of the children’s choice was due to free-will. It was also done in a controlled environment which means that the findings cannot be generalised outside of the research setting. Bauer 1993 wanted to investigate this further and set out to study the way in which children call upon gender schemas when processing information. Pre-school-age and older children have been found to process gender consistent and gender inconsistent information differently so Bauer wanted to see if this was the case in very young children as well. Bauer devised a way to test girls and boys as young as twenty-five months of age. Children observed the experimenter carry out short sequences of stereotypically female, male or gender neutral activities, for example, changing a nappy, shaving a teddy bear or going on a treasure hunt. She tested children by ‘elicited imitation’ both immediately after and 24 hours later to see if they would copy what they had seen. Bauer found that girls showed equivalent quality of recall for all three types of sequence, boys on the other hand showed superior recall of male stereotyped activities, meaning they would not imitate any female behaviour and their recall for gender neutral activities was the same as for male stereotyped activities. These results indicate that boys more than girls tend to make use of gender schemas by the age of twenty-five months and boys appear to remember more accurately event sequences consistent with their own gender, whereas girls show no difference in recall of gender consistent and gender inconsistent information. A limitation of this research is that it could be due to boys being more likely to be penalised by their parents, especially their fathers for carrying out female stereotyped activities, so the children may have played with the male stereotyped toys even if they wanted to play with the other female stereotyped toys. The findings may also be down to that Bauer, who modelled the sequences, is female and the boys may have felt uncomfortable in copying her behaviour. Gender schema theory is parsimonious as it tries to explain gender through cognitive development and does not take into consideration biological gender differences, such as chromosomes, genes or hormones. It is also alpha-bias as it exaggerates the differences between men and women.

African Americans and the Media Essay

African Americans are subject to stereotypes as if these stereotypes classify us as the type of people we are. Television shows tend to portray African Americans as loud, aggressive, violent, unfashionable and lacking etiquette. Examples of this are liberal shows such as â€Å"The Boondocks† and â€Å"Family Guy†. Both shows glorify behaviors that would make society assume African Americans are ‘Ghetto’. â€Å"Family Guy† and â€Å"The Boondocks† mock stereotypes of African Americans in a way that I find humorous but some viewers might find offensive. â€Å"The Boondocks† is a show that demonstrates the ignorance within our society particularly with African Americans. It revolves around a young African American family from Chicago, Illinois who move to a fictional suburban Woodcrest. The main characters are Huey Freeman, a 10-year-old boy who is candid and autonomous; Riley Freeman, an 8-year-old boy who idolizes Hip Hop culture and considers himself a gangster and Robert Freeman also referred to Granddad who is the overly abusive parent who just wants to enjoy his retirement. The Freemans represent a typical African American family from an urban area. Even though the intent is to highlight the negatives in black communities I can relate to the content and its characters. I do agree with the stereotypes of the characters but I can see how it may send out the wrong message about African Americans as people. Riley Freeman for instance is a prime example of how the media portrays African Americans as loud, aggressive, violent, and unfashionable. He wears oversized clothes, has cornrows, and is very vulgar. Throughout the series, Riley constantly refers to others as â€Å"N*ggas†, â€Å"Hoes† and other derogatory terms. His grandfather, Robert Freeman, sometimes does not approve of Riley’s actions so he enforces his rules with violence. African American parents are usually mocked for using corporal punishment towards their kids as a form of discipline. In season 1 episode 4 of â€Å"The Boondocks†, they refer to something called â€Å"a n*gga moment†. According to the show, â€Å"a n*gga moment† is â€Å"A moment where ignorance overwhelms the mind of an otherwise logical Negro male causing them to act in an illogical, self-destructive manner. I. E. , like a n*gga. † They are trying to say that black people cannot avoid altercations by any means because that’s who they are. A white man is shown bumping into a black male. The white male walks away because he says he is white while the black male tries to antagonize him to escalate the situation. This implies that white people can be civilized while black people are violent. â€Å"Family Guy† is the kind of show that’s mocks everybody but it shows how people can purely associate actions with African Americans. In season 7 episode 5 of â€Å"Family Guy†, Peter Griffin is shown working as a secretary at a firm. He is wearing long acrylic nails and his body language is in lack of a better term ‘ghetto’. Peter gets a phone call from a person by the name of Laronda, he then says â€Å"Hey Laronda. No I have four people on hold but I can talk. † Peter is a white male but I made an inference from the use of the name Laronda, the acrylic nails and him being unproductive at work that they are stereotyping African American female receptionist. This shows how influential media portrayal can be. African Americans are misrepresented by shows such as â€Å"Family Guy† and â€Å"The Boondocks† which portrays them, as people who do not have decorum, who are boisterous and have bad grammar by associating them with actions that would make society perceive them in that manner. The media & television constantly reinforce these images. The media conditions the mind to think a certain way and people give into it without thinking for themselves.

Decision Marking Essay Example | Topics and Well Written Essays - 2500 words

Decision Marking - Essay Example The issue will first be illustrated, and then it will be necessary to identify the importance of decision making process for the company; the major part of the work will e devoted to the detailed structured analysis of the issue and application of the soft system technology to it. Conclusion will summarize the acquired information and will make it possible to define the best solutions. Last year more than 50% of total passenger traffic was generated within North America and Europe, with Japan accounting for an additional 4% from domestic or international flights. These three regions equate to more than 70% ($US400 billion) of airline revenues. However the picture will change dramatically in the next five years, due mainly to the emergence of China and India as economic superpowers set to capture about 15% of expected growth in global traffic. It is clearly seen, that the issue to be discussed in the present work is how to keep the existing market share in the global traffic and how to attract additional customers to the area of the North American and European airlines, so that with the emergence of China and India as new super powerful economic states these market shares should not be threatened to minimize. It is obvious, that possessing significant market share in global traffic and especially airline needs constant attention and decision-making, because the thr eat of India and China occupying its considerable part is based on objective reasons and grounds. However, on the other hand, these assumptions may underlie another aspect - tending to stability and knowing the quality of the services provided by European and North American airlines many customers would not be willing to change the supplier of these services, that is, the airline company they usually use for traveling on business or entertainment. Background The starting point for any aircraft demand analysis is clear understanding of the issues driving air transport and the way in which they relate to the future air traffic and aircraft capacity. Airbus' traffic forecast process is based on four major building blocks, and it should be noted that these building blocks are also important to be known in the present decision-making process. These are Brand, Emerging Markets, Human Assets and Technology. The two aspects which will be taken for analysis here are Brand and Technology. It will be essential to see how these two aspects of the airline business should be involved into keeping the present market share and what decisions should be made in relation to these two aspects to make them work for the benefit of the leading world airline companies. These will be taken as the two major issues or challenges to be faced by the companies in the nearest future and thus appropriate decision-making techniques should be chosen. (Isenberg 1996, p. 7 78) It is stated, that airlines based in Middle East and Asia are expected to develop more quickly than airlines based in other regions, growing by an average of 6.4% and 6.2% respectively. This is fuelled by the aspiration of airlines and in some cases the countries themselves, as well as access to bourgeoning markets driven by liberalization and a growing propensity to travel. But for the companies which are

How can technology bu used to improve hotel and restaurant Essay

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Biodiversity of the Ecosystem in Taxon Essay Example | Topics and Well Written Essays - 500 words

Biodiversity of the Ecosystem in Taxon - Essay Example The first period of evolution of insect is called Devonian. Development of body parts was the first major part of evolution of insects. There are three major part of insect body namely Head, Thorax and Abdomen. Insects belong to each group of ecosystem. They can live in water, air and on land and trees also. There are various developments in their structure according to their adaptations. Like when insects start flying they developed wings. They also developed compound eyes to have good sight and navigation. To support their bones they have a strong skin. Slowly according to their habitat they modified their body structure. Folded wings made them compact in size. The latest modification in the structure of insect is the evolution from larvae. This made them to evolve independently. Their mouth, limb, wings and other parts developed. The development of mouth happened according to the food habits. They developed sucking mouth to suck the nectar from flowers. They generally depend on liquid diet. Change in flower structure caused to the change in the mouth structure of insects. The evolution of insects was a very long process. However threat to them is much and should be preserved to save ecosystem.

Business Regulation Simulation Essay Example | Topics and Well Written Essays - 1750 words

Business Regulation Simulation - Essay Example The simulation will be based on the Legal Environment of Business Simulation UOP. the aim of the paper is to identify and analyze the main facts, regulations, and legal issues which influence the company and its stakeholders. Also, the paper will cover risk analysis and ethical questions, and provide possible solutions to the problem exist. The aim of EPA rules is to promote better self-regulation of business. EPA rules and regulations have a great impact on decision-making process determining direction and strategies of future growth and development. EPA found that five years ago, Alumina violated environmental regulations and rules. According to commission results, PAH concentration was above the norm. Thus, Alumina asked for another test and received a good record of compliance. Except this case, the company strictly follows environmental rules and regulations. This adversarial mode of business-government relationships in the regulatory arena can be adapted to a more cooperative, less confrontational mode through positive interaction between compliance officials from the public and the private sectors. The central theme of interactive corporate compliance is the encouragement of effective compliance systems within each business so as to ensure that the purposes of public policy are reflected in the internal operatio ns of American businesses--not only through the threats of enforcement efforts for noncompliance, but also through the positive effects of recognition of the obligations to make corporate practices square with the requirements of public policy. Voluntary compliance can be made palatable, and even profitable, in an effective scheme of interactive compliance (Hildreth 2007; US. EPA 2006). The Freedom of Information Act (FOIA) is another important issue in simulation. Among most FOIA officers, the individuals who process the requests and authorize the disclosures, there is, in fact, a genuine respect for the FOIA. This act was signed by Even Lyndon Johnson in 1966. Following this Act, Alumina asked the Environmental Protection Agency (EPA) to disclose the information concerning their spill five years ago. No one, in or out of government, can deny the oppressive delays in agency response to FOIA requests, but this varies from agency to agency and is often due to the refusal of the executive branch to provide adequate funding and staffing for its FOIA sections. Indeed, there is considerable evidence that the career professionals overseeing the implementation of the FOIA in federal agencies have, for the most part, accepted the principle of the public's right to know (Richter, 2002). Another important factor covered by the study is the U.S Environmental Protection Agency Compliance Incentives and Auditing policy. The aim of this strategy is to identify all aspects of its production, storage, and transportation operations, analyzing its management systems, and other systems designed to avoid, prevent, or mitigate spills. More and more, individual citizens throughout the country are deciding to reward what they see as "good" businesses with patronage, support, and good will and to tell the dishonest or unethical corporations to shape up or lose their business. This is becoming particularly evident in the areas of the environment and public health. Kelly

Organizational behavior 4 Article Example | Topics and Well Written Essays - 500 words

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Mcdonalds AD Essay Example | Topics and Well Written Essays - 250 words

Mcdonalds AD - Essay Example Probably the most common place that most people experience McDonald’s advertisements is the television. I have often seen McDonald’s advertisements on television that are aired between popular programs on various channels. Throughout the entire McDonald’s advertisement experience, the greatest presence is on television. Moreover, McDonald’s also utilises the radio. Both the television and radio advertisements campaigns are distinctly noticeable with the â€Å"I’m lovin’ it† catch phrase in each media. Similarly, McDonald’s has advertisements that are geared towards local newspapers and journals. These advertisements generally display new deals and discounts that are available in the local McDonald’s food chains. Another significant area where McDonald’s advertisement is noticeable are various billboards and signage that can be seen installed on both local roads as well as highways. The billboards on highways are fa r larger and are more distinctly noticeable. Other than this, McDonald’s often advertises itself through sponsoring various local, regional and international events. McDonald’s can be seen sponsoring Little League just the same as it sponsors the Olympic Games. The typical McDonald’s logo is highly noticeable in all these situations through the coolers of drink that they distribute on these events.

Drug Patent Statement Essay Example for Free

Drug Patent Statement Essay Patent Laws Patent laws are created to protect the intellectual property rights of scientists and to motivate investors to produce rare drugs. Under the intellectual property laws in drugs, investors and investors could market and profit from their products for 18 years without the fear of losing sales from the threat of generic drugs. Effects of Drug Patenting   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Patenting drugs creates an opportunity for brands to monopolize the market, thus, gaining complete control over the pricing of their product. It allows maximum profits for brands within the specific period allowed by patent laws, in this case 18 years. During the specific period allowed by patent laws, it is illegal for generic brands to infringe the rights of the patented drugs by marketing their products. This reduces competitive marketing, making it more difficult for the generics to penetrate the market. Naturally because of this reduced competition, prices are raised and the availability of drugs is decreased. This created the motion that patent laws should be limited to allow generic brands to enter the market more freely. Loopholes in Patenting   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   After a patent expires, the generic brands can market their product without the restraint or fear from any legal implications that could be brought to them by the patented brand. The entrance of generic brands could reduce the sales of branded drugs by about 80 percent (Herper). To maximize profits and at the same time reduce the threat imposed by generic drugs on their sales as well as legally, the inevitable expiration of patent is maneuvered by branded companies within the bounds of laws. The branded drugs could enter into private financial deals, usually by bribing drug companies who want to enter the market with their generic versions. Another way of maneuvering the laws include â€Å"attaching riders on to some pieces of legislation in the congress† to extend the patent of the brand (Kugler). Some companies perform slight changes in the formulation of their drugs to make a â€Å"new and improved† version of their product. As a result, when the drug patent expires, the consumers would not want to choose the generic versions, believing it less potent. This had been the case of Eli Lilly and Co. as they fought their way to win the case against generics maker Zenith Pharmaceuticals. The last claimed that Lilly’s patent on Zyprexa is invalid because it was too similar to its earlier patent. They argued that Lilly misled the institutions on the significance of their tests. Lilly on the other hand argues that Zyprexa is a more superior drug compared to its former and is worthy of its patent. However, according to Lilly, they had no plans of bribing their generic rival out of the case. Another way of maneuvering is when drug companies continuously file patent upon patent to extend their monopoly over the drug and challenge the generics. This works to the great advantage of   the brands and otherwise to the generics because when a branded product challenges a generic in court, The Food and Drug Administration delays the former’s   approval for 2.5 years (Herper). That is, if the case is not settled before that. This gives more time for the brands to profit their product at their monopolistic price.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The result is the constant legal suits of generic companies to invalidate the brand name patents of manufacturers that keep their generic versions off the market (Herper). Weakening patents means weakening incentives   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The Pharmaceutical Research and Manufacturers of America (PhRMA) had been strong in responding to the proposed legislation by Edwards and Kennedy. According to them, â€Å"By weakening patent protection, the Edwards/Kennedy legislation harms patents and weakens the incentive to develop new medicine. Weaken patent laws will reduce drug research for rare diseases (Kugler).†   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The Edwards/Kennedy Legislation (Greater Access to Affordable Pharmaceutical Act of 2001) is proposed to speed up the process in which generic drugs are approved. This will reduce the monopoly of branded drugs and increase the competition among drug manufacturers by making generic brands more widely available and thus, cheaper (Kugler). The legislation also wants to hold manufacturers to the Hatch Waxman act to ensure that practices in drug manufacturing and marketing are fair, competitive. The Hatch Waxman Act is created to increase development of generic versions of drugs and at the same time protect the patent rights of branded products. This is done by giving time for patented drugs to market and sell their products with consideration of the amount of time wasted in waiting for the approval of the Food and Drug Administration. This legislation, as well as the Hatch Waxman Act has made a huge cut in the profits of branded manufacturers. This is despite the claim that the Hatch Waxman act is also created to protect the patent of branded products. The shares of Lilly’s Prozac, for example dropped by 30% in just one day   in August of 2000 after the declaration of a new patent ruling (Herper). This shows that investors are very reactive to changes and challenges in drug patents. However frivolous the challenges are, and however promising the potential of the drug is, the patent challenges have a negative impact on drug development. Any challenge in drug patents is as powerful as to reduce the investments to a very significant level that could wipe off any motivation and incentive for manufacturers to develop and produce drugs.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   This, in general is the argument of brand manufacturersthat a decrease in drug patent provisions will decrease profits for branded drug makers, which will simultaneously reduce the incentives that are the primary motivators of inventors and investors. There is no significant connection between patent protection and drug research   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The National Organization for Rare Disorders (NORD) believes that â€Å"It is the Orphan Drug act and not patents that have paved the way for the development rare drug products (Kugler).†Ã‚   The Orphan Drug Act of 1983 encourages the development of drugs for rare diseases by giving the manufacturers 7 years of exclusive marketing rights. Included in the provision of the act are the tax credits that should compensate for the manufacturers’, laboratories’ and investors’ research expenses (Kugler).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   NORD implied that PhRMA is overstating that there is a significant connection between patent protection and rare disease drug research. This, according to them is needlessly inducing alarm among the patients.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The main argument against drug patent is the â€Å"unfair marketing practices† imposed by the branded drug products as supported by the intellectual property laws. A balance should be set to meet both the need for more affordable drugs and the need for new drugs.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   If this is the case, that is, if the main problem is the power of branded manufacturers to set prices, it is not by limiting the provisions of patents that could increase the distribution at more affordable prices of rare drugs. It is by setting a middle point that could balance both the need for drugs and the motivation of inventors and investors through incentives.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   A lot has already been suggested regarding this. One includes â€Å"offering drug companies a period of exclusivity without fear of patent challenges after a drug is approved (Herper).†Ã‚   More specifically stated, the proposal is to give drug patents a shorter term of 15 years (instead of 18 years) (Herper). In addition to this shorter term, it is suggested that the 15 years should start only after the approval of the FDA (Herper). At present, patents protect drugs from generic versions for 18 years exclusive of the 8 years or more that are needed for the product to pass the FDA tests. Also, to minimize the probability of monopolies, the prices of the products should be regulated that it will not harm the producers as well as the consumers. The provisions of drug patents should not be limited.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Undeniably, for a drug innovation to proceed, financing is very crucial, making the interest of investors necessary for the development of drugs. As implied earlier, decreasing the power of patents creates fear among investors in drugs whether or not this fear is justifiable by actual probabilities. The interest of investors in drug manufacturing depends very much on the idea that they could profit from it through patent laws. Threatening to limit this power and exclusivity would affect their interest and thus their motivation. Drug companies would not be rewarded and there would be less incentive to develop new drugs. This rebuts the NORD statement that it is not the patent that motivates or creates drug innovation. Limiting patents would in the short run decrease the prices and increase the availability of drugs but it will not produce drugs that are needed in the future.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The economic law states that a higher price of products would decrease the demand. This means that branded drug manufacturers could only rise their prices up to a point that they would still gain profit from what they invested. Higher than this point, they could not raise their prices. This is the point where the manufacturers would feel rewarded based on their contributions. Limiting the power of patents would make the manufacturers feel unrewarded because prices of the products they developed using millions of dollars are being sold at a cheaper rate compared to what it really is supposed to sell at. Consumers pay for the innovation and development. Without these manufacturers and investors, there would be no drugs. References Bioshield Bill Would Provide Drug Patent Term Extension. Apr 2005. Patent Baristas. 26 Sep 2006. http://www.patentbaristas.com/archives/000161.php Drug Patent Deals Raise FTC Concerns. 2006. Patent Baristas. 26 Sep 2006 http://www.patentbaristas.com/archives/000319.php Farnsworth, S. n.d. The Drug Monopoly. Multinationalmonitor.org. 26 Sep 2006 http://multinationalmonitor.org/hyper/issues/1993/11/mm1193_09.htm.save. Fernandez D. and Huie J., n.d. Strategic Balancing of Patent and FDA Approval Processes to Maximize Market Exclusivity. Fernandez and Associates. Iploft,com. 26 Sep 2006 http://www.iploft.com/FDA%20Poster.pdf#search=hatch%20watchman%20act. Food and Drug Administration 1984. Drug Price Competition and Patent Term Restoration 26 Sep 2006. http://thomas.loc.gov/cgi-bin/bdquery/z?d098:SN01538:@@@Dsumm2=m|TOM:/bss/d098query.html|. Herper, M. 2002. Solving the Drug Problem. Forbes.com. 26 Sep 2006. http://www.forbes.com/2002/05/02/0502patents.html. Herper, M.   2005. Drug Patent Peril. Forbes.com. 26 Sep 2006 http://www.forbes.com/technology/2005/01/26/cx_mh_0126patents.html. Kugler M. 2002 July. NORD Rebuts PhRMA Drug Patent Statement. About.com. 26 Sep 2006. http://rarediseases.about.com/library/weekly/aa071402a.htm. Nair, MD. n.d. Harmonization of Patent Laws—Still a Dream? Patentmatics.org. 26 Sep 2006. http://www.patentmatics.org/pub25.htm. Swiatek J. 2004. Lilly Battles Patent: Lilly Battling to Retain Patent on its Top Drug. Indystar.com. 26 Sep 2006. http://www.antidepressantsfacts.com

Synthesis of Levulinate Ester in Solvent-free System

Synthesis of Levulinate Ester in Solvent-free System MUHAMMAD YUSUF BIN YAAKUB 1.0 INTRODUCTION Fabrication of several of oxygenated fuels and chemical from biomass is not an easy task. This is because biomass needs to use catalytic processes to defunctionalized selectively (D.L.Klass, 2006). Both biological and chemical catalysts are being tailed by the global to transform biomass into biofuel and chemicals (A.Corma, 2007). There is some of the potential alternative to non-renewable energy like lignocellulosic biomass for the future demand (M. Aresta, 2012). Feedstock like biomass is supposed to reduce the carbon dioxide content in the atmosphere (E.S. Olson, 2001). As we know, ester is one of the important derivatives that can be ready by using heterogeneous catalysis (G.D. Yadav, 2012)) including feedstock that can be renewed which is based ester as oxygenated fuels. Making of levulinate ester from glucose, cellulose and sucrose which known as one of the admirable renewable fuel additives under acid catalysis by using anhydrous condition is quite desirable (M.E. Harmon, 1990). Biomass which is from derivatives of levulinate acid also known as one of the top twelve building block as a precursor for resins and polymer, and to produce a spectrum of fuel additives (B.V. Timokhim, 1999)). There are a few reviews already appear on the commercial application about levulinate acid and its derivatives (M. Kitano, 1975). Ethyl levulinate or levulinate ester which is ester of levulinic acid find application as blending agents in biodiesel, flavour and perfume industry, as solvents, plasticizer, etc (R.I. Khusnutdinov, 2007). Also, one of the derivatives from levulinic acid like 2-methyl-tetrahydrofuran can be employed as the additives in gasoline and diesel. Besides that, levulinic acid that undergoes process of animation which leads to the formation of ÃŽ ´-aminolevilunate is used as herbicide (J.J. Bozell, 2000). Among every ester of levulinic acid, ethyl levulinate is the one that has been used in fuel as oxygenated additives on a large scale (P.M. Ayoub, 2005). Therefore, levulinate ester which derived from levulinic acid is important in industry which is made by the process of esterification fuel grade ethanol and carboxylic group (Wetzel et al., 2006) 2.0 LITERATURE REVIEW 2.1 levulinic acid Levulinic acid is one of the simplest sugar group of the organic compounds which known as gamma-ketovaleric acid. Levulinic acid also called as 4-oxopentanoic acid in the terms of chemical formula. It contains two groups which are acidic carboxyl group and ketonic carbonyl group. (Ghorpade Hanna, 2011). Some of the agricultural wastes such as starch, cane sugar and lignocellulostic are used for the production of levulinic acid. And these renewable biomasses are commercially used for its productions (Wetzel et al., 2006). There are some of the researches have been done on biomass and found that it is one of the important sources for chemical product and biofuel.( Klass, D. L., 1998). Biomass can be found abundantly such as in forest, industrial activities like paper industry and also in the form of waste from agricultural. Considerable amounts of research have been done throughout the world to determine a good way to change biomass into organic chemicals by identified attractive chemical transformation method and also to develop economically possible processes for these transformations on a commercial scale. And one of the interesting option is the formation of levulinic acid from the conversion of lignocellulosic by acid treatment.(Buana girisuta,2007) 2.1.1 Application of levulinic acid in industrial field There are some of interesting derivatives that can be found in levulinic acid as the chemical platform (Timokhin, 1999). The derivatives of levulinic acid and its application have been looked extensively (Bozell, 2000). Besides that, there are also extensive reviewed about the production of levulinic acid from the acid catalysed degradation of hexoses; however, there are not much information available for the underlying reaction mechanism (Horvat, 1985). In reaction of nucleophilic additions upon carbonyl group, several of valuable levulinic acid derivatives are produced. For instance, when nitrogen which contain nucleophiles react with levulinic acid will give either the cyclodehydration products of the amide or amide (7), depends on carboxyl group of levulinic acid which is whether it is protected or not (Shilling, 1966). The reactions of several amines with levulinic acid which form amides are interesting because of their biological activity. Also, one of the product produced from the reaction between levulinic acid with ammonium hydroxide or ammonia in the presence of hydrogen gas and metal catalyst which is 5-methyl-2-pyrrolidone(8) (Manzer, 2004) is quite useful for the pharmaceutical industry. Levulinic acid is quite important for the synthesis of chemicals for the applications like resin precursors, polymer and fuel additives. There are several article published which described the properties and potential application for the industry about levulinic acid and its derivatives (Timokhin, 1999) 2.2 levulinate ester There are some research has been studied by the global to determine and study about the biological and chemical transformations to change biomass into feedstock chemicals and biofuels. Among this research, one of the interesting approaches is the production of levulinate ester from the direct conversion of carbohydrates named hexose like sucrose, cellulose and glucose in anhydrous system which contain alcohols using acid catalysts (Peng et al., 2011)-thesis senior. For the production of ester in high yield production, one of the common chemical or acid to use is sulphuric acid. But, there are some problems like formation of polymerization products or by-products due secondary reaction with possible alcohol dehydration or double bounds of the molecule (Aracil et al., 2006). Also, there will be several drawbacks when using this type of classical method for the synthesis of ester like energy consumption, high temperature, requirement for special apparatus, formation of substantial amount of by-products, prolonged reaction period and high waste generation (Chaibakhsh et al., 2011). 2.2.1 Synthesis of ester levulinate Esterification of levulinic acid with etanol which produce ethyl 4-oxopentanoate or commonly known as ethyl levulinate, is used as an intermediate for the synthesis of more multifaceted commercial products, as an lubricant additive oxygenate additives for petrodiesel (Joshi et al., 2011). In industry, levulinate ester was obtained via esterification process between alkyl alcohol and levulinic acid with the presence of acid like H2SO4 or sulphuric acid which lead to the production of a high yield products. Also, immobilized lipase which acts as the biocatalyst for this process can become quite effective under milder reaction conditions (Peng et al., 2011). Yadav and Borkar (2008), previously have been report about the enzymatic synthesis of levulinate ester (Lee et al., 2010). Their work focused on kinetics and mechanism study of lipase-catalyzed esterification of levulinic acid with n-butanol using tetrabutyl methyl ether as the solvent. There are also reported by several researchers about the synthesis of levulinylated nucleosides in organic solvent-based system via enzymatic hydrolysis (Garcia et al., 2002; Lee et al., 2010). The application of biocatalysts has impressive advantages for the synthesis of esters. These advantages are milder reaction conditions, high yield and purity, shorter reaction time, biocatalyst reusability and low energy requirement ( Chaibakhsh et al., 2011). 2.2.2 Applications of levulinate ester in industry Levulinate ester are a kind of short chain fatty esters like methyl levulinate, ethyl levulinate and butyl levulinate with their properties similar to the biodiesel fatty acid methyl esters (FAME) (Peng et al., 2011). Such ester are good to be used as gasoline additives and diesel of transportation fuels, which have quite great performances like high lubricity, non-toxic, better flow properties under cold condition and flashpoint stability (Peng et al., 2011). Not like FAME, ethyl levulinate which is fatty ester with larger head groups and significantly different hydrocarbon tail give disorder by disrupting the spacing between molecules in lamellae. This disorder is the result from the formation of crystal nuclei with less stable chain packing followed by transformation to a more stable form at lower temperatures (Joshi et al., 2011). Ester levulinate is quite useful as solvents and plasticizers and have been promoted as fuel additives (Ghorpade Hanna, 2011). Levulinate ester is adaptable chemical feedstock with abundant potential in applications for the industry either in fragrance industry, flavouring or as blending component in biodiesel (Peng et al., 2011). For that reason, esterifications of levulinic acid to ethyl levulinate is quite significant as it can be used as plasticizing agents, fuel additives and odorous substances. (Dharne Bokade, 2011). 2.3 Ethanol Ethanol known as ethyl alcohol is a flammable, volatile and colorless liquid. Its molecular formula is C2H5OH and its molar mass is 46.07. The ethanol plays a role as organic solvent, increase the mutual solubility in water, ester and glycerides. The production of methyl ester is not quite desirable rather than ethyl ester which has considerable interest because of the extra carbon atom brought by the ethanol molecule slightly increases the cetane number and heat content (Tongboriboon et al., 2010). Besides that, ethyl ester also has cloud and pour points that are lower than methyl ester. This fact improves the cold start (Tongboriboon et al., 2010). Also, ethanol as extraction solvent is preferable than methanol because it has much more power for dissolving in oils. This could thus enable the product production in a solvent-free system (Tongboriboon et al., 2010). 2.4 Biomass The term biomass is defined as any organic matter which is available on a renewable basis, including dedicated energy crops and tree, feed crop residue, agricultural food, wood and wood residue, aquatic plants, animal wastes and other waste material (Kamm, 2006). The once a year production of biomass is about 1.7–2.0Ãâ€"1011 tons (Zoebelin, 2001); however, only 6Ãâ€"109 tons are currently used for food and non-food applications. Food applications are by far the most important (96.5−97%). And the rest is used in non-food applications, such as a feedstock for the chemical industry. There are a lot biomass sources which is available for further conversion and utilisation. For the biomass feedstock, its selection is very important for the points of view of both socio- and techno-economical. Actually, biomass feedstock should not compete with the food chain for some ethical reason. Waste streams like agricultural waste with a low or even negative value are more preferable. It is good to choose sources that not tend to cause diseases. Normally, there are only a few fertilisers that can give the high growth rate per ha per year and available throughout the year. For that particular reason, water hyacinth should be excellent feedstock for biomass for further utilisation and conversions (Buana Girisuta, 2007). 2.3.1 Chemical composition of biomass The chemical composition of biomass depends strongly on its source. Generally biomass consists of 23–32% hemicellulose, 38–50% of cellulose, and 15–25% lignin (see Figure 1). Cellulose is a non-branched water-insoluble polysaccharide consisting of several hundred up to tens of thousands of glucose units. Cellulose is the most abundant biopolymer synthesised by nature, its amount is estimated at approximately 2Ãâ€"109 tons year-1 (Sasaki, 2003). Hemicellulose is a polymeric material, although lower in molecular weight than cellulose, consisting of C6-sugars (glucose, mannose and galactose) and C5-sugars (mainly arabinose and xylose). The third component (lignin) is a highly cross-linked polymer made from substituted phenylpropene units (see Figure 2). It acts as glue, holding together the cellulose and hemicellulose fibres. Figure 1: show the distribution of important constituents in biomass. Figure 2: show the molecular structures of the building blocks of lignin. 3.0 PROBLEM STATEMENTS In this research, there are some of the problems that need to be solved. One of them is what method or technique can be used to increase the production yield of levulinate ester. Besides that, how to improve levulinate ester as fuel additives in biofuel and what is the advantageous of enzymatic synthesis rather than conventional chemical esterifications. 4.0 OBJECTIVES Increase the production yield of ester levulinate Improves the levulinate ester as the fuel additives in biofuel To study the advantages of enzymatic synthesis over conventional chemical esterifications.

Tim Hortons Design of Goods Services

Tim Hortons Design of Goods Services Tim Hortons Inc. is a fast food giant operating in North America and Canada. The Companys offerings includes premium coffee, flavored cappuccinos, specialty teas, home-style soups, fresh sandwiches, wraps, hot breakfast sandwiches and fresh baked goods. While the company is expanding it is challenged by the concerns of design of goods and just in time concepts of operations management. II. Literature Review Operations Management is the science and art of ensuring that goods and services are created and delivered successfully to customers. Applying the principles of OM entails a solid understanding of people, processes, and technology, and how they are integrated within business systems to create value. The way in which goods and services, and the processes that create and support them, are designed and managed can make the difference between a delightful or unhappy customer experiences. Operations management is the only function by which managers can directly affect the value provided to all stakeholders customers, employees, investors, and society. Effective operations management is essential to providing high-quality goods and services that customers demand, motivating, and developing the skills of the people who actually do the work, maintaining efficient operations to ensure an adequate return on investment, and protecting the environment. Operations management focuses on carefully managing the processes to produce and distribute products and services. Major, overall activities often include product creation, development, production and distribution. Related activities include managing purchases, inventory control, quality control, storage, logistics and evaluations of processes. A great deal of focus is on efficiency and effectiveness of processes. Therefore, operations management often includes substantial measurement and analysis of internal processes. Ultimately, the nature of how operations management is carried out in an organization depends very much on the nature of the products or services in the organization, for example, on retail, manufacturing or wholesale (1). Understanding Design of Goods and Services A good is a physical product that one can see, touch, or possibly consume. Examples of goods include oranges, flowers, televisions, soap, airplanes, fish, furniture, coal, coffee, lumber, and personal computers. A durable good is a product that typically lasts at least three years. Vehicles, dishwashers, and furniture are some examples of durable goods. A nondurable good is perishable and generally lasts for less than three years. Examples are toothpaste, software, shoes, and fruit. A service is any primary or complementary activity that does not directly produce a physical product. Services represent the nongoods part of a transaction between a buyer (customer) and seller (supplier).1 Common examples of services are hotels, legal and financial firms, airlines, health care organizations, museums, and consulting firms. Product (or service) management includes a wide range of management activities, ranging from the time that theres a new idea for a product to eventually providing ongoing support to customers who have purchased the new product. Every organization conducts product development, whether its done intentionally or unintentionally (2). Goods and services have many similarities. They are driven by customers and provide value and satisfaction to customers. They can be standardized for mass market or customized to individual needs. Just in Time Just-in-time (JIT) is a management philosophy that originated in the 1970s. Taiichi Ohno is credited with developing JIT and perfected it for Toyotas manufacturing plants in Japan. The main goal of JIT is to eliminate anything that does not add value from the customers perspective. Non-value-added activities are referred to as waste in JIT (4). Examples of waste include: overproduction beyond what is needed to satisfy immediate demand waiting time (work-in-process, customer waiting) unnecessary transportation (material handling, customer travel through a facility, etc.) processing waste (yield rates, start-up costs) inventory storage waste (space, deterioration, obsolescence, etc.) unnecessary motion and activity (waste in work techniques, etc.) waste from product and service defects (rework, scrap, warranty, etc.) Just-in-time (JIT) refers to a collection of practices that is designed to eliminate waste. These organizational practices encompass the entire logistics flow of materials from purchasing through production and distribution. The elements of JIT may include shared product design with suppliers and customers, movement toward single sourcing, proximate suppliers and customers, reduced set-up times, preventive maintenance, reliance on analytic tools to identify sources of defects and plant optimization layout (re)configurations, among others. The benefits are pervasive and can include lower total system costs and improved product quality when managed at optimum levels. A fair amount of evidence is available to support the claim of improved performance derived from the adoption of JIT or some of its components. Companies have reduced in-process inventory more than 50% and lead times by more than 80%. An inventory system managed to the extreme with JIT principles correlates inversely with the level of labor efficiency. Outsourcing is an essential tool for every business executive. JIT Inventory Modeling brings a unique perspective that can help clients make and implement the best decisions even in these unprecedented times (5). The use of JIT in services A review of the major academic research journals found most articles focused on JIT in manufacturing firms. Non-manufacturing environments have been given little emphasis in the research literature. However, a review of recent applied journals revealed articles describing JIT precepts migrating to non-manufacturing environments. These non-manufacturing environments include typical service businesses such as insurance firms, retailers and mail-order firms. Continuous improvement of the process As part of JIT implementation, organizations must instill the habit of expecting continuous small improvements in the process. The operators must never be satisfied with the current environment, but always be moving closer to the ideal situation. Service operations are ripe for significant productivity gains that can be achieved through process improvements. However, recognizing processes that can be improved through the implementation of JIT techniques has been difficult. Holistic approach to elimination of waste The JIT philosophy must be adopted throughout all levels and in all functions of the organization. Chase (1991) provides an excellent argument for and examples of the need to consider the service aspects of the manufacturing firm as potential areas for competitive advantage. He argues further that service innovations typically cut across departmental boundaries and cross-functional support is required for a successful implementation. From a non-manufacturing perspective, inventory and purchasing are the most obvious areas for implementing JIT techniques because of the common vocabulary, of which many examples can be found. According to Schonberger and Gilbert (1983), the just-in-time concept as applied to purchasing translates into frequent releases and deliveries. They developed a list of characteristics describing a JIT purchasing environment. As can be seen from the items listed below, these characteristics could be descriptive of almost any purchasing operation, be it in a manufa cturing or service environment: (1) Suppliers: few suppliers; nearby suppliers; repeat business with same suppliers; active use of analysis to enable desirable suppliers to become/stay price-competitive; clusters of remote suppliers, competitive bidding mostly limited to new part numbers; buyer plant resists vertical integration and subsequent wipeout of supplier business; suppliers are encouraged to extend JIT buying to their suppliers; (2) Quantities: steady output rate (a desirable prerequisite); frequent delivery in small quantities; long-term contract agreements; minimal release paperwork; delivery quantities variable from release to release, but fixed for whole contract term; little or no permissible overage or underage of receipts; suppliers encouraged to package in exact quantities; suppliers encouraged to reduce their production lot sizes (or store unreleased material); (3) Quality: minimal product specifications imposed on supplier; help suppliers to meet quality requirements; close relationships between buyers and suppliers quality assurance people; suppliers encouraged to use process control charts instead of lot sampling inspection; Inman and Mehra (1991) examined the potential for JIT in service industries through three purchasing-oriented case studies. These cases highlight the application of JIT to three areas identified as: the purchase of sub-components/ services; maintenance, repair and operations (MRO) goods; and quasi-MRO goods. They concluded that the utilization of JIT in a service industry is more than justifiable. They also offered suggestions for implementing JIT in service industries that strongly resembled those offered to manufacturing firms contemplating adoption of JIT. Flexibility in the use of resources Firms should have the ability to change processes rapidly to meet customer demands without wasting resources. Because the output from service processes is often highly customized, flexibility is a key element for many successful service organizations. Improving the timing and quantity of resource allocations for performing a process to avoid employing human and material resources when they are not needed is another facet of JIT. Decreasing the cost of maintaining patient accounts was the purpose of applying JIT techniques in a hospital as reported by Groenevelt (1990). While this implementation also could have fallen under the improving work flow emphasis, many of the JIT techniques discussed in this article reflect employee centred techniques increasing the flexibility of the workforce. Workers were involved in decisions; training and education programmes were established to create a pool of multi-skilled workers; standardized procedures were established; performance standards were created and monitored; and a special emphasis was placed on fostering co-operation and commitment to the JIT philosophy. Another mathematical model is offered by Ramasesh (1990) for the implementation of JIT techniques in purchasing systems that have not yet advanced to the ultimate level of JIT purchasing (lot size of one). He treated the fixed costs associated with the adoption of JIT as investment, and justified it based on the savings generated using any of the techniques of investment analysis. He modified the traditional economic order quantity model to include explicitly the costs of small-lot shipments. He also provided guidelines and formulae for determining the order quantity and the optimal number of shipments. Respect for people Because customers are directly involved in the service delivery process, service employees play a crucial role in affecting the customers perception of the quality and value of the service. Employees must respect customer requirements and provide service in a timely and efficient manner. Those same employees deserve the respect of the companys management. This means helping employees work smarter, not harder, through training and supervisory assistance, and involving all employees in problem solving and process improvements. Many of the articles discussed in other categories mentioned the need to implement various techniques for helping employees work smarter, not harder (Billesbach and Schneiderjans, 1989; Carlson, 1989; Groenevelt, 1990; Savage-Moore, 1988; to name a few). Most of these articles focused primarily on operational changes. However, they also recognized the vital role employees have in service industries and emphasized methods for improving their performance. Service firms working for JIT manufacturing firms must be aware of the impact of the customers JIT emphasis on their own companies. Bagchi et al. (1987) investigated the importance of various service factors considered by both JIT and non-JIT firms when selecting a transportation carrier. They concluded that executives in JIT firms regard customer service-related factors as more important than others. JIT firms place significantly more emphasis on service-related determinants, such as frequency of service, delivery predictability, transit time, service schedule changes and service flexibility. Carriers and other service providers must design effective service offerings which include the customer service requirements of their JIT customers. III. Company Analysis Company Profile Tim Hortons has been founded in 1964 as a coffee and donut shop and opened its first outlet in Hamilton, Canada. As of today, they have more than 2600 stores in Canada. There is one outlet for every 8,707 people in Ontario, compared with one outlet for every 18,906 people in the western provinces of Canada. Also, Tim Hortons has more than 250 outlets in USA. Tim Hortons has generated revenue of US $1.2 billion for its corporate parent, Wendys International, in 2005. Tim Hortons is committed to offer always fresh, fast, convenient, and wide varieties of the products. One of the specialities of Tim Hortons is they want to make sure that their menu is being embellished by adding a new taste. Hot Smoothee is one of their new tastes, and it was launched in October 2005. Goods and Services Selection Tim Hortons Inc. is a quick service restaurant operating in North America and Canada. The Companys offerings includes premium coffee, flavored cappuccinos, specialty teas, home-style soups, fresh sandwiches, wraps, hot breakfast sandwiches and fresh baked goods. It directly owns and operates small number of company restaurants in Canada and the United States. The Company also has warehouse and distribution operations, which supplies paper and dry goods to the Canada-based restaurants, and supply frozen baked goods and some refrigerated products to the Ontario-based restaurants. In the United States, the Company supplies similar products to system restaurants through third-party distributors. The operations also include coffee roasting plants in Rochester, New York and Hamilton, Ontario, a joint-venture bakery, and a fondant and fills manufacturing facility. In July 2009, the Company began serving its signature coffee in New York City. Competitive Advantage Tim Hortons is a dominant player in Canada, and the chain has a 75 per cent market share in Canadian coffee-doughnut industry. Starting March 2006, Tim Hortons Inc. started trading publicly on the Toronto and New York Stock Exchanges and made itself more valuable. The company is now one of the strongest franchises in Canada, with annual sales of $1.6 billion, 1700 outlets, and an aggressive expansion plan into the United States. One in three cups of coffee sold in Canada comes from Tim Hortons, and Canada-a country with more donut shops per capita than any other country-seems to be a country in love with coffee and donuts. Canadian soldiers even take tins of Tim Hortons coffee with them on overseas deployment, and one of the competitors, Country Style Donuts, recognizes the dominance and sets its sights on becoming number two in the market-they are not even considering challenging the companys dominant position. Even the purchase of the company by U.S.-based Wendys International doesnt seem to have slowed the company down or tainted its image as a Canadian icon. Customers are able to find Tim Hortons outlets more than competitor cafà ©-shops across country. This is the one of the advantages Tim Hortons has. They have more than 2600 stores in Canada. There is one outlet for every 8,707 people in Ontario. This advantage makes Tim Hortons more competitive, but just only in the caffeine product. Hot Smoothee has shown their banner all around Tim Horton store, but they couldnt catch consumers. Whereas Starbucks has about 600 outlets in Canada, Second Cup operates more than 370 outlets across country. Issues Encountered with the Design of Goods Obesity levels are reaching unprecedented levels and the rates of diabetes are skyrocketing. Canadians, and North Americans in general, are becoming increasingly health conscious. With almost a quarter of Canadians obese, obesity is- no pun intended-at epic proportions, and that could affect Tim Hortons in terms of lawsuits, regulation, and complaints from public interest groups. For example, a group of obese U.S. teenagers sued McDonalds, claiming its food had made them fat. While a judge threw the case out, any fast-food restaurant could be a target and the cost of defending the company could easily exceed several million dollars per case, and thats only if you win. The concern about fat and carbohydrates pretty much focuses on what a donut is-fat and carbohydrates. If the growing interest in eating health food wasnt worrying enough, an aggressive new U.S. competitor is entering your market-Krispy Kreme. Although Krispy Kreme has only about a third of the sales (all U.S.) of Tim Hortons, its growth rate has been phenomenal. It has doubled its sales and stores over the last five years, including an incredible 40 percent increase in sales in the last year alone. Even Hollywood has jumped on the Krispy Kreme bandwagon, with Nicole Kidman declaring them Gods gift to donut lovers, and the product has been seen on over 80 TV shows. It now has plans to aggressively enter the Canadian market and take Tim Hortons head on. In the meantime, Tim Hortonss U.S. expansion plans havent gone well, with the company losing millions of dollars. New Product Opportunity The latest taste of Tim Hortons is non-caffeinated hot beverage: Hot Smoothee. It was introduced in October 2005 with four flavors: butter caramel, raspberry, hazelnut, and orange. Tim Hortons Hot Smoothee is served either in cartoon or ceramic cup. Specially, ceramic cups made customers feel like at home. Hot Smoothee has no special design for their cups. In addition, they organized the label together with the description for the flavor which might lead to confusion. At Tim Hortons, customers dont expect the ambience and quality of service that Starbucks and Second Cup provide. Customers expectations are not high as much as when they go to Tim Hortons. They only expect to have hot drink, fast service and convenient place. This factor makes Tim Hortons and competitors target audience different. Product-by-Value Analysis In terms of place design/atmosphere, Tim Hortons is more about convenience and saving time. Starbucks is more than that drinking coffee; it has been about sitting in the cafe and enjoying the ambience. Meanwhile, Second Cup provides their customers cozy environment as Starbucks does. But also, starting from 2005, customers are able to bring their laptops or handheld devices and surf the Internet over coffee. This factor makes Second Cup more competitive comparing to Starbucks. At Tim Hortons, customers dont expect the ambience and quality of service that Starbucks and Second Cup provide. Customers expectations are not high as much as when they go to Tim Hortons. They only expect to have hot drink, fast service and convenient place. This factor makes Tim Hortons and competitors target audience different. A Starbucks experience is-each cup is made to a customers personal order. Especially that baby boomers are looking for quality, individual choice and personalized service. They have the money and they are willing to pay for it. They are looking for more than having coffee. Tim Hortons also serves to baby boomers for more than 40 years in Canada, but they are falling behind competitors like Starbucks when it comes to quality, unique choices and excellent service. IV. Executive Summary Tim Hortons, as a fast-food company giant is challenged by issues concerning operations managements concepts of design of goods and just in time. North America is beset with alarming rate of obesity, and Tim Hortons whose products involves doughnuts, which main ingredients are fat and sugar. Due to this, Tim Hortons is besieged by a challenge to come up with products that are keener to the health of its customer. Just-In-Time touches on all operations in a firm including design, accounting, finance, marketing, distribution among other. The application of the concept of Just-In-Time to a service and product company like Tim Horton will further enhance customer experience and allow the company to eliminate waste and make true their statement to always serve fresh, fast, convenient, and wide varieties of the products.

Kathe Kollwitz Mothers :: Essays Papers

Kathe Kollwitz Mothers In 1914 a war was going on in Germany. At the same time, Kathe Kollwitz was capturing images of poverty, unemployment, homelessness and things that ailed Germany. Following WW1 Kollwitz’ son, Peter Kollwitz, joined the German army to later be killed in battle. This inspired Kollwitz to begin a series of works illustrating the effects that war had on women, one of which is â€Å"The Mothers†. In this work, and many, Kollwitz uses lithography to produce very dark yet sharp images. The use of color itself gives the audience a doleful view of her works. When first looking at this work, a deep sadness and sorrow is perceived. The expressions on the mothers’ faces give it away almost immediately. Viewing this piece from left to right, the first mother seems as if she has lost a loved one or is reminded of one. The way that she hides her face in her hands not wanting anyone to see her pain, shows the audience how devastating it is to lose a loved one. The other two mothers seem more collect about their thoughts but at the same time thankful. They seem thankful by clutching tightly to their young, firmly holding their infants and keeping the children close by their side as if the kids are the only loved ones that the mothers’ have left. When glanced at, this work attracts the eye because of its photographic characteristics. Dark black lines are used to outline each figure with its own characteristics. Dark colors are abundantly used in this work to represent a gloomy image of sorrow, although in this work, they are used to show the feelings and thoughts of the suffering mothers to be unfortunate. I’m sure that the mothers’ in this piece were not alone and Kollwitz realized this.

My Three Wants :: essays research papers

Abraham Maslow has made a distinction between needs and wants. A need is a basic human requirement. On the other hand, a want is a conscious desire for something. As for me, my wants are influenced by the aspirations of my heart! First, I want to attend college, Second, I want to build a Support Ministry, for hurting people, and I personally want to enjoy the splendor of life. At this point in my life these are the three wants that are most important to me. Certainly, attending college is something that I have always wanted to accomplish in life. Over the years I have become infatuated with a desire to achieve knowledge. Now as I re-enter the environment of education I look forward to every opportunity of learning, and I am excited about the virtually limitless possibilities that will be opened to me. While in college I want to do all that I can to improve myself, so that I will be able to help others. Besides, education is utterly useless if there's no one to share it with. Therefore, I want to use my education to help other people. One of the most painful pictures in this human life is to see the effect of a life devastated by physical or emotional pain. Therefore, I want to work as intensely as I can to build a Support Ministry for hurting people everywhere. I want to provide a place of comfort and support, but most of all I want to lend a listening ear. As I strive to reach these goals, it is important for me to continue my own personal journey to enjoy life to its fullest. I want to be committed to a life lived and guided by Christ. On the whole, it is my heartfelt desire to achieve my full potential in life, and to become all that God would have me to be. I am convinced that God has allowed me to live and put in me a want to be educated and a desire to build a support ministry to help others.

International Business Finance Essay

1.Introduction This report is specific for JKX Oil & Gas. She is a petroleum company focusing on exploration and production in countries of the ex Soviet Union and the Ukraine. Her management is considering weather following her competitor expansion into Far East and Oceania. In this report I am going to show analysis in two sections. The first section is analysis on motivation of cross border investment in using FDI and find out the reasons of home countries & host countries encourage company to FDI. The second section is evaluating any key causes of a financial crisis and show how financial crisis affect the international trading. 2.Motivations of using FDI as cross border investment Basically FDI could be divide into three type of motivates they are market-seeking, resource-seeking, and efficiency-seeking (Malllampally and Sauvant 1999). Other than above there are a lot of academics theories, which could explain the motives behind the FDI by enterprises. In these theories I have chosen five theories that is common to be use for explain the motivations of FDI. First is international product life cycle theory (Vernon 1966), every product ought to go thought some stages from a new product to a mature product. In order to take efficient and cost advantages in different stage, production plant move towards foreign. This theory help explain the motive of manufacturing business efficiency-seeking and market-seeking in using FDI but fail to explain reason of using FDI instead of using others methods such as licensing. For example car producer such as Honda, their new car will be firstly starting design and produce in Japan during the new product stage, then shift to USA for listen to the market where have a huge demand and lastly the production will be shift to the East-Asia to produce in order to lower the production cost in the standard product stage. Second is transaction cost theory (Williamson 1993), it stated that when enterprises business is affected by market imperfection, which lead transaction cost increase. They will go international which benefit the efficiency and decrease the transaction cost. Be remind that this theory fail to explain reason of enterprises using FDI instead of using others methods and it is usually apply to manufacturing business efficiency-seeking which products are low in price, heavy, and easily to product in every where. For examples cement manufacturing industry as the raw-material is easy found in every where and easy to product also it is cheap in price and heavy so that firm will be product it locally instead of export it. Third is market imperfection approach, (Hymer 1970) assume that due to market imperfection FDI present. Theory stated that when any factors which lead failure of perfect market. Because of extra cost of cover the barriers, advantage present in foreign countries, and advantages in using FDI over licensing such as full control, unique knowledge, and skill cannot be transferred. Enterprises will do the FDI to achieve profit maximization on their business. This theory help explain the motive of efficiency-seeking in every business by using FDI when they facing market imperfection. Fourth is eclectic theory (Dunning 1993), theory stated that following factors found by enterprise FDI will be present. Firm will get advantage over particular location ownership, the advantage of have location ownership are not by selling or leasing, for the advantage a profit advantage must be gain. This theory help explain the motive of industries using FDI to take advantage of market-seeking and resource-seeking. Fifth is following competitors theory (Knickerbocker 1973), this theory stated that in oligopolies industries firm will follow her competitors to move towards foreign countries. Following competitors in order to reduce the chance monopoly in a new oversea market by her competitor. This theory help explain the motive of oligopolies industries go international for market-seeking But this theory fail to explain the reason of first mover and reason of using FDI to expand other than licensing. Eclectic theory, following competitors theory, and market imperfection approach which help explain why JKX chose to invest internationally with FDI. JKX is focusing on petroleum exploration and production of oil. It is just perfectly apply the eclectic theory because JKX is fully depending on use of local resources oil field. FDI is the only way to gain the resource by takeover the location ownership, and JKX uses the location resource to generate profit by production. Also maybe reason of addition cost on oil production JKX will decide move to other country because of the unique knowledge and skill cannot be transferred JKX need to use FDI to build new production plant. Also exploration and production oil industry in oligopolies. If JXK do not follow her competitors she will lost the potential oil field and her potential customer in new location. Moreover when JKX decides to invest internationally she needs to beware of the following such as economic risks, political risk, exchange rate risk, and cultural risks. 3. FDI impact on nation states Because of FDI bring a lot of advantages to nation states (host & home), nation states attempt to encourage FDI to do so. 3.1Advantage of FDI to host country There are seven advantages of FDI to nation states, which explain why host countres attempt to encourage foreign to do FDI. First is resource transfer effects, FDI by foreign firm bring along with their capital, technology, and management skill to host country. Capital bring alone by FDI is an importance source of stable private external finance for every country especially to developing countries. For example JKX buy an oil field form the host country and invest on the oil drilling equipment and build production plant ,which is a long term investment, profit making though production ,and could not leave easily. Moreover the external finance give a big hand on the balance of payment and foreign exchange reserve which is importance element for the economic health. Technology and Management Skill are another resources bring alone with FDI, which enhance productivity and competitiveness of host country. Both of them are importance elements for success in global market when chance comes. Foreign firm provide training on knowledge and skills on how to produce and management skill to local employee in order to facility the production. These knowledge transfer direct benefits to local labors and enhance productivity and competitiveness of host country. For example in the 90’s computer parts MNCs build production plant in Taiwan by FDI, nowadays Taiwan is be came another computer parts manufacturing kingdom in Asia. Second is employment effect, FDI creating employment for host country. Foreign firms build up their manufacture plant in the host country which increases the employment directly by foreign own plant and relative industry, for example in Mexico FDI create every 1 job in the foreign production plant and create 7 job in the relative industry (Farrell 2004). Also the local trained employees may start their own business. But there will be opposite effect in market-seeking† FDI raise unemployment by forcing less competitive companies out of business as foreign firm will bring along with advance technology reduce employment need in same production, For example Wal-Mart’s entry into the Mexican food Market which decrease the margin of that industry push less competitive companies exit (Farrell 2004). But actually this effect is just base how government manage the FDI for example in the 90’s china government restrict of the sold inside market of foreign firm which protect the local employment would not be substitute. Third economic growth and local multiplier effect, high employment leads more consumption by the local country citizen. As a result encourage industries further develop to fulfill increasing consumer needs; lower prices, better quality, and more selection for consumers. It is because of further developed of the industries, which increase employment, and new products encourage consumer to do more purchase, the cycle will go on and on. Fourth credibility in international market because of demonstration of first mover success, build up a model for the followers others foreign firms will be more confident to FDI to the same country. As followers could learn the first-comer experience, enjoy the effort done by first comer in host country such as infrastructures, educated customers, trained labors, and research done. Also stop the first-mover to become monopoly. In additional the credibility may attract short-term investment others than FDI. For example India starting by the first mover to starting computer software relating industry, nowadays it became another silicon valley in. Fifth access to return markets (Malllampally and Sauvant 1999), as FDI by foreign firm increase accessing international marketing network. The network benefit to transnational systems related industry, domestic firm to getting spillovers foreign business, and wider economic of host counties, by greater the links between foreign and domestic. This also helps spread the enhanced productivity and competitiveness of host countries. Sixth tax revenue from profit (Razin 2002), profit generated by FDI contribute to tax revenues to the host country in general. But some countries may cancel out direct taxes for the MNCs to attract for investment, tax revenues will still be benefit as more consumption in local {Sales Tax} and better income of citizen {Income Tax} Seventh reinvestment within local economy, the credibility of host country established the foreign firm may reinvestment into same country by using the profit earns in there. Moreover host counties encourage foreign firms to do so as foreign firm bring the profit back to their home country may deplete the foreign reserve and the profit earned put back to host country will bring along with new benefit to host country. In additional FDI force host country improve their economic health such as policy system, industry, and better the living standard of the host country by better income, lowing price, improve quality and more selection for customer. 3.2Disadvantage of FDI to host country There are also some bad points together with FDI incoming such as, Adverse effects on local competition due to spending power and brand of MNC, MNCs become an impact on government decision due to the economic power of MNCs, Over exploitation of country mineral wealth etc†¦ 3.3Advantage & Disadvantage of FDI to home country Looking on the surface impact of FDI to home country surely will be lot disadvantages follow by such as negative impact balance of payment and increase unemployment. But why home country will encourage company to do FDI aboard , FDI will benefit the country in such ways, company go aboard may increase the export due to new development demand, MNCs will bring the FDI profit back to home country that benefit the balance of payment, jobs will be create as additional need of support activity represent by FDI aboard. FDI increase the long-term competiiveness by learn from others countries. Home country could benefit from the FDI of the sunset industries to free labor force form the costly and low-value industry. FDI good to host country and long-run good to home country FDI need management and benefit to both MNCs and host government For FDI to be successful it require win-win situation benefit both MNC and Host country, but require a good control in order to manage FDI well. If the management of FDI is done badly which may result in harmful to whole host country’s economic system. On the other hand FDI going aboard not only bring alone with disadvantage to host country in the long-run which may also give a huge benefit to the home country. The following paragraph will be shown both advantages and disadvantages of FDI to nation states 4.Root causes of financial crisis  There are many underlying reason which form a financial crises such as excess capital inflow, speculation activities, poor financial infrastructure, monetary policy etc.. all these factors encourage financial crises breakout. The following is a simple flow of twin crises (Kaminsky and Reinhart 1999). Starting form establishes of credibility of a country, foreign investors will start to invest into the country because expectation of return high. When the capital going into the local economic, that increase the economic health, local money supply, economic activity, foreign reserves, and government budget. All these factors increase country credibility and once again increase the attractiveness of capital inflow. The continuous increasing expectation of return will form rational bubble (Blanchard 1979) investors and speculators will holding an overvalued currency but would not sell it yet, they believe there will be a further appreciation on the local currency. Because of more and more capital inflow, banks in the country will facing difficult in generating profit as they have too much cash on hand, the banks will decrease the liquidity ratio lend more money out of the banks which result in increase risky loan, overinvestment, over-consumption, and asset price bubble. Banking crisis will more like to happen when bubble bursts and increasing bad loan. When the Banking Crisis outbreak which decline economic activity, costly fiscal bailout, decline the country credibility and lead capital flight. (Aghevli 1999) Capital outflow, costly fiscal bailout, decline economic activity, and speculation activities fasten decline the foreign reserves that result currency crisis.