...“Quality at the Ritz-Carlton Hotel Company” Case Summary [pic] Ritz-Carlton Hotels, California, USA Short Description of The Case Company History Ritz Carlton merupakan merek sebuah hotel mewah yang saat ini mempunyai 71 properti di kota-kota besar di 23 negara. Ritz Carlton juga mempunyai lembaga pelatihan dan pusat kepemimpinan yang dibuat oleh pimpinan Ritz Carlton, Leonardo Inghilleri. Lembaga ini telah melatih sedikitnya 50 ribu perusahaan di seluruh dunia. Sejarahnya, nama Ritz Carlton merupakan gabungan dari dua nama hotel yang berbeda. Yaitu, hotel Ritz di Paris yang berdiri pada tahun 1898 dan Hotel Carlton di London. Dua hotel ini dikelola oleh seorang legendaris pengusaha hotel, Cesar Ritz. Kemudian nama Ritz Carlton menjadi acuan beberapa hotel lain yang kian bermunculan. Antara lain, Ritz Carlton Montreal yang berdiri pada tahun 1912 dan Ritz Carlton Boston pada tahun 1927. RC Boston ini kemudian berkembang sebagai komunitas kelas tinggi. Pada tahun 1983, hotel ini memulai jaringan hotel dunia yang dipimpin oleh pengelola hotel bernama Horst Schulze dan William B Johnson. Beberapa hotel Ritz Carlton dibangun di Amerika pada dekade kedua dan ketiga abad 20, termasuk salah satunya di New York pada tahun 1917 dan Boston pada tahun 1927. Perusahaan Ritz Carlton saat ini seluruh sahamnya dimiliki Marriott Internasional. Perusahaan hotel Ritz Carlton saat ini kurang lebih mempunyai 38 ribu pegawai. Pusat pengelolaan Ritz Carlton berada di Chevy Chase...
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...Capital Budgeting Case Courtney Stermer, Lawana Harrison, Teresa Helms, Chung Xueli (Kimberly) QRB/501 April 21, 2014 Garurank Saxena Capital Budgeting Case This paper will define, analyze and interpret the work done in the Microsoft Excel spreadsheet for Week 6 Capital Budgeting Case study. It presents the rationale behind the Net Present Value (NPV) and Internal Rate of Return (IRR) results, description between the relationship of NPV and IRR, and the reasoning behind the acquisition recommendation in the Microsoft Excel spreadsheet. Two corporations (A and B) were studied with given revenue values and expenses, as well as depreciation expenses, tax rates and discount rates. They were used to compute corporations’ income statement, cash flow, NPV and IRR value using Microsoft Excel spreadsheet. “The NPV compares the value of a dollar today to the value of that same dollar in the future, taking inflation and returns into account. If the NPV of a prospective project is positive, it should be accepted. However, if NPV is negative, the project should probably be rejected because cash flows will also be negative. For example, if a retail clothing business wants to purchase an existing store, it would first estimate the future cash flows that store would generate, and then discount those cash flows into one lump-sum present value amount, say $565,000. If the owner of the store was willing to sell his business for less than $565,000, the purchasing company would...
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...Social tourism According to the survey in 1985, there were nearly 40% of respondents in the UK could not participate in an annual trip because of economic barriers. Furthermore, another important reason for 14% respondents could not take an annual trip was “personal disability”. Even though there is a connection between poverty and disability, large amounts of poor people whose poverty proved to have no connection with disability. Therefore, it is highly possible for low income families to take trips annually by adopting some measurements. It is necessary for people to take trips annually. 63% of respondents considered leaving home and taking a one-week trip yearly is essential, and fail to take trips annually may cause a sense of deprivation (Hughes, 1991). Moreover, the benefits of participation in tourism have been proved in terms of economy and social life. In addition to benefits of economy and society, individuals in society can get rest and recovery as well as the chance for learning and intercultural communication through the tourism experience. In order to provide equal chances for low-income and disabled families to enjoy tourism, social tourism as a part of social policy has been developing over the years. Hunziker explains Social Tourism as the phenomenon in tourism industry caused by participation in tour by economically disadvantaged or other disabled elements in society (Hunziker, 1951). Though there are various explanations to the concept of social tourism,...
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...Human Resource Accounting as “the process of identifying and measuring data about human resources and communicating this information to interested parties”. HRA, thus, not only involves measurement of all the costs/ investments associated with the recruitment, placement, training and development of employees, but also the quantification of the economic value of the people in an organisation. Flamholtz (1971) too has offered a similar definition for HRA. They define HRA as “the measurement and reporting of the cost and value of people in organizational resources”. CONCEPT OF HUMAN RESOURCE ACCOUNTING Human Resource Accounting (HRA) is a new branch of accounting. It is based on the traditional concept that all expenditure of human capital formation is treated as a charge against the revenue of the period as it does not...
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...question. ____ 1. Which of the following is NOT a basic economic question? |a. |WHAT to produce |c. |WHEN to produce | |b. |FOR WHOM to produce |d. |HOW to produce | ____ 2. What is the fundamental problem of economics? |a. |Scarcity |c. |capital | |b. |the factors of production |d. |labor | ____ 3. Which of the following lists the four factors of production? |a. |land, labor, wants, entrepreneurs |c. |land, labor, capital, scarcity | |b. |labor, needs, capital, entrepreneurs |d. |land, labor, capital, entrepreneurs | ____ 4. Which of the following is NOT a capital good? |a. |a bulldozer at a construction site | |b. |an oven at a bakery | |c. |a cash register at a clothing store | |d. |a television set for sale at an appliance store ...
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...Define and Describe the Four Factors Of Production In every society there are so called 'factors of production,' that are used to manufacture goods and services. These are often referred to as limited resources: The first factor of production is land. This refers not just to land itself but to all natural resources - the surface of the earth, forests, mineral deposits etc... These resources can be split into two different types: non-renewable and renewable. Non-renewable resources are resources such as coal, oil, gold and copper which once used up can never be replaced as their formation took millions of years. Renewable resources include fish stocks, water and wind power and these can be renewed and replaced. However these sources require careful management as misuse can lead to destruction of the source. Some nations are endowed with natural resources and exploit this by specialising in the extraction and production of these resources LAND This category sometimes extends over all natural resources. It is intended to represent the contribution to production of nonhuman resources as found in their original, unimproved form. For the French physiocrats led by Francois Quesnay in the 1750s and 1760s, land was the only factor yielding a reliable gain to its owner. In their view, laborers and artisans were powerless and in excess supply, and hence they earned on average only a subsistence-level income; and in the same way what they produced outside of agriculture fetched enough to...
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...Table of contents Introduction in Macro-economy………………………………………..3. Unemployment………………………………………………………….5. Labor, Land ,Capital…………………………………………………6,7,8. Currency&Inflation……………………………………………………. .9. Hyperinflation…………………………………………………………..10. Demand and Supply…………………………………………………….11. Conclusion………………………………………………………………12 Introduction of Macro-economy It is perhaps mostly for this reason that macroeconomics, the study of these economy-wide phenomena, is so exciting. Macroeconomics is more than just headlines, however; it is a fascinating intellectual adventure. The breadth of issues it covers is evidence enough of its inherent complexity. All the same, we will see that simple economic reasoning can take us a long way. And it is often surprising how well a few simple ideas fit complex situations. Macroeconomics can also be useful. The economic well-being of all consumers, rich or poor, is afected by movements in interest rates, exchange rates, and the rate of inflation. Businesses stand to gain or lose considerable amounts of money when their economic environment changes, regardless of how well they are managed. Being prepared for such changes in fortunes can have considerable value; more generally, it makes us all better citizens able to grasp the complex challenges that our societies face. Macroeconomics is relevant to voters who wonder what their governments are up to, and can also help governments avoid the worst economic crises that have a7icted modern industrial...
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...– 0.97 and stock price would goes down to less $10 – less $20. I can assume that there is no additional stock issuance. As of 1984, the ROA is 5.6%, EPS 0.57 and stock price $13-$37. 1. Background Main business Design and manufacture tester and test software for printed circuit boards with worldwide sales and service network, was headquartered in Minneapolis and had plants in Minnesota, Colorado and Arizona. Leading manufacturer of ATE (automated test equipment), 31% market share and semiconductor test operation which uses more than $1million systems 2nd large business Total sales revenue $227 million in 1984 Object ATE market by $84 billion dollar business 2. Semiconductor Market Situation High technology, intensive large capital required for production asset, periodic production line update need according to new chip development in quick cycle. During 1975-1984 swiftly and dramatically technologies change, inspired the development of new products. Requirement to semiconductor for high quality and low price product created demand for critical test required in engineering, production and service. Silicon chip – Short technological obsolete cycle, any change in the design needed a new chip semiconductor price per megabyte declined in early 80’s from $100 to almost $10 dollars. In late 70’s to early...
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... ZIP]. 3. Day-To-Day Operation. The partners shall provide their full-time services and best efforts on behalf of the partnership. No partner shall receive a salary for services rendered to the partnership. Each partner shall have equal rights to manage and control the partnership and its business. Should there be differences between the partners concerning ordinary business matters, a decision shall be made by unanimous vote. It is understood that the partners may elect one of the partners to conduct the day-to-day business of the partnership; however, no partner shall be able to bind the partnership by act or contract to any liability exceeding $_________ without the prior written consent of each partner. 4. Capital Contribution. The capital contribution of each partner to...
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...In Class Quiz October 8, 2013 Question: What factor or factors explain real wage convergence between the old world and the new during the period roughly 1870-1914? Did everyone benefit equally from the process? Answer: Before talking about convergence, it useful to say something about the level of real wages in the old world and in the new. In the old world, wages were relatively low because there was an abundance of labour while in the new world there was a scarcity of labour so that real wages there were relatively high. The question then: what forces were operating during this period to push up the real wages in the old world and/or down in the new world (and to move land rents in the opposite direction)? As many of you said, there were essentially three: 1. Migration, the movement of young, able-bodied, unskilled, mostly male workers from the old world to the new, pushed up the real wage in the old world as the labour force shrank and caused it to decline in the new world as the labour force increased. O’Rourke and Williamson maintain that migration explains most of the convergence during this period – in fact, it over-explains it. 2. The second was commodity market integration, thanks to technological advances in transportation – steam ships, railroads, refrigeration – that substantially reduced the cost of moving goods between the old world and the new and increased the variety and type of goods that could be moved. As a result, natural resources and farm...
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...01/28/2011 EH205 Essay 2 When and why did London grow so much faster than other early modern capitals? By examine the key differences among Paris, Madrid, and London, I argue that from1650 to1750, the reason why London boosted in terms of demographic expansion and market integrations is that -- instead of creating market disorder by demanding cheap supply of goods from other places, emphasizing social privileges and over consumptions, London attracted spontaneous business exchange in market among different groups of people. In section I, by doing a brief literature review on E. A. Wrigley, D. R. Ringrose and other important authors, we may have a basic understanding of the demand and supply market mechanism and its relationship with population, internal market and functions of capitals. In section II, we will analyze how the functions of capital, such as exercising political power to satisfy a particular interest, can affect the demand and supply of market and demographic composition. In section III, we study further how the functions of capital such as price determination can change the economic development of the capital itself and its surrounding industrial and agricultural areas. At the end, we should see that London did a better job integrating the urban-rural market during 1650-1750. Literature Review From 1650 to 1750, London grew much faster than other continental capital cities. There is little debate on the time as shown in table 1 and 2 below. Although the figures...
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...1 A: A share Ａ股；甲类股份 abatement of tax 减税；减扣免税额 ABN AMRO Bank N.V. 荷兰银行 above-the-line expenditure 线上项目支出；经常预算 支出 above-the-line receipt 线上项目收入；经常预算收入 ABSA Asia Limited 南非联合亚洲有限公司 absolute change 绝对数值变更 absolute expenditure 实际开支 absolute guideline figure 绝对准则数字 absolute interest 绝对权益 absolute order of discharge 绝对破产解除令 absolute profit margin 绝对利润幅度 absolute value 实值；绝对值 absolutely vested interest 绝对既得权益 absorbed cost 已吸收成本；已分摊成本 absorption 吸收；分摊；合并 absorption rate 吸收率；摊配率；分摊率 ACB Finance Limited 亚洲商业财务有限公司 acceptable form of reciprocity 合理的互惠条件 acceptable rate 适当利率；适当汇率 acceptance agreement 承兑协议 acceptance for honour 参加承兑 acceptor 承兑人；接受人；受票人 acceptor for honour 参加承兑人 accident insurance 意外保险 Accident Insurance Association of Hong Kong 香港 意外保险公会 accident insurance scheme 意外保险计划 accident year basis 意外年度基准 accommodation 通融；贷款 accommodation bill 通融票据；空头票据 accommodation party 汇票代发人 account balance 帐户余额；帐户结余 account book 帐簿 account collected in advance 预收款项 account current book 往来帐簿 account of after-acquired property 事后取得的财产 报告 account of defaulter 拖欠帐目 account payable 应付帐款 account payee only [A/C payee only] 只可转帐；存入 收款人帐户 account receivable 应收帐款 account receivable report 应收帐款报表 account statement 结单；帐单；会计财务报表 account title 帐户名称；会计科目 accountant's report 会计师报告 Accountant's Report Rules 会计师报告规则 accounting and auditing procedure 会计与审计程序； 会计与核数程序 Accounting Arrangements 《会计安排》 accounting basis 会计基础 accounting by Official Receiver 破产管理署署长呈 ...
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...conventional wisdom all over the world that market dynamics must prevail in economic matters. The concept of governmental controlling the commanding heights of the economy has been given up. This, in turn, has made the market the most decisive factor in settling economic issues. This has also coincided with the thrust given to globalization because of the setting up of the WTO and every member of the WTO trying to bring down the tariff barriers. Globalization involves the movement of four economic parameters namely, physical capital in terms of plant and machinery, financial capital in terms of money invested in capital markets or in FDI, technology, and labor moving across national borders. The pace of movement of financial capital has become greater because of the pervasive impact of information technology and the world having become a global village. When investments take place in emerging markets, the investors want to be sure that not only are the capital markets or enterprises with which they are investing, run competently but they also have good corporate governance. Corporate governance represents the value framework, the ethical framework and the moral framework under which business decisions are...
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...situations they will give contradictory results. This is so in the case of mutually exclusive investment projects. The examples of such projects are technical exclusiveness and financial exclusiveness. The term technical exclusiveness refers to alternatives having different profitabilities and the selection of that alternative which is the most profitable. Thus, in the case of a purchase or lease decision the more profitable out of the two will be selected. The mutual exclusiveness may also be financial. If there are resource constraints, a firm will be forced to select that project which is the most profitable rather than accept all projects which exceed a minimum acceptable level. The exclusiveness due to limited funds is popularly known as capital rationing. The three reasons that these two methods disagree are the size-disparity problem, the time disparity problem, and the unequal expected lives. Size disparity arises when the initial investment in mutually exclusive projects is different. Time disparity...
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...CSR Management Accounting Performance reporting and evaluation Accounting Truth? Story? Meaning? Effects on stakeholders/society? Food for thought/evaluation? Buy Apple products? Invest in Apple? Work at Apple? Cooperate with Apple? Future of Apple? Management/Leadership-lessons? Account: noun 1. an oral or written description of particular events orsituations; narrative: an account of the meetings; an account ofthe trip. 2. an explanatory statement of conduct, as to a superior. 3. a statement of reasons, causes, etc., explaining some event. 4. reason; basis: On this account I'm refusing your offer. 5. importance; worth; value; consequence: things of no account. EXPAND verb (used without object) 12. to give an explanation (usually followed by for ): to accountfor the accident. 13. to answer concerning one's conduct, duties, etc. (usuallyfollowed by for ): to account for the missing t ypewriters. 14. to provide a report on money received, kept, and spent. 15. to cause (usually followed by for ): The humidity accounts forour discomfort. His reckless driving accounte d for the accident Basic dichotomy of accounting: some results of actions taken are significant and need to be recorded and some are not Not recorded externalized; effects do occur but are not the company’s responsibility Environmental audit: a complete understanding of the environmental impact of organisational activity and costs assigned to effects Mushroom growers abues avoiding...
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