A Matter of Perception Essay Example for Free

A Matter of Perception Essay â€Å"How often have I dreamt that I was in these familiar circumstances that I was dressed, and occupied this place by the fire, when I was lying undressed in bed? † Rene Descartes in his writings from Meditations on First Philosophy brings to us this very reason of doubt of our senses and perceptions. For we have all â€Å"been deceived in sleep by similar illusions† (Descartes) placing the question, how would we â€Å"know the difference between the dream world and the real world? †(Synopsis: The Matrix) It is very interesting looking back at the works of Plato and Descartes in comparison to more modern works such as the blockbuster hit â€Å"The Matrix†. When examining The Matrix we see a complex world built by machines portraying to the human race a virtual world. This virtual world allows the human race to perceive a reality around them, a world built with the intention of blinding people from the ultimate reality that what they perceive to be real is an illusion. Plato in his famous cave allegory makes wonderful connection to the perceptions of reality and illusions. In Plato’s allegory he talks about prisoners who from childhood were bound to a wall and only capable of seeing shadows cast on a wall of puppets representing humans and animals. â€Å"Then in every way such prisoners would deem reality to be nothing else than the shadows of the artificial objects. †(Plato) In The Matrix Neo is very similar to the prisoner that is in the cave who both eventually finds the truth about the real world. Just as the prisoner, Neo has been living in a cave called the Matrix. This Matrix, like the illusions from the shadows of the uppets in the cave, leaves its prisoners completely ignorant to the fact that the world as they know it is not real. There is another similarity between Plato’s allegory and the Matrix. In Plato’s story the prisoner is assisted by a man who like Morpheus with Neo, helps the prisoner escape and see the world of reality. As these two stories go, Neo and the prisoner are brought to the light of truth and reject the world around them. These characters at first are â€Å"unable to see the realities of which in his former state he had seen shadows† (Plato). These shadows for Neo were the representations of reality that he had believed in. To the prisoner he believed the shadows to be the reality. However a major difference to note between Plato’s allegory of the cave and the Matrix is that in the Matrix, the prisoners are not physically bound while conscious by chains but mentally trapped in an unconscious state of a perceived reality that is pleasant. The cave however paints a dark picture of enslavement to the shadows to which the prisoners viewing the illusions being bound and chained and blinded from the outside world. Also contrasting when the prisoner escapes from the cave he is escaping to that outside world full of light and life from the dark. The outside world of the Matrix however is a post-apocalyptic world where the sun has been blocked out by clouds from war and pollution. To escape from the Matrix is to journey into the dark as opposed to the light. The desolation of the real world around Neo is what leads him to reject that real world around him. In the cave allegory, the liberated prisoner is blinded by the magnificence of the sun and light around him. The prisoner gradually opens his eyes to seeing real animals and humans instead of just the shadows. The beauty of the real world and real objects is at first what leaves the prisoner in question, objection, pain and then astonishment. The Cave allegory suggests that most men would seek to see reality. However in the Matrix there is an example of the opposite. Cypher sets up Morpheus in a deal with Agent Smith in order to be re-installed into the matrix and have his memory of the outside world wiped. To Cypher â€Å"ignorance s bliss† and he would much rather indulge in the illusion created by the Matrix than live in a harsh world. I believe though that the harshness of reality would be sought after as opposed to accepting the status quo or the illusion. We as members of society (majority) wake up every day go to work come home pay the bills spend our earnings. We live in the harshness of reality that is our world. That being said, I feel it is human nature to challenge the status quo and not accept what we have or know. Why do we as Americans thrive for excess? We do because we are not satisfied with the status quo. I believe that the reason most men would want to escape the cave is because of wonderment and a natural state of not being satisfied with what we have either materialistically or even our thirst for knowledge. Out of selfishness we would escape the cave because â€Å"ignorance of bliss† will not satisfy our core needs. Henry Ford wasn’t happy with how cars were produced so he escaped the cave of production standards. Steve Jobs didn’t think we needed a keyboard anymore so he created a tablet and escaped the cave of technology standards. We all are trapped in our own caves and though most of us are too busy or too afraid to take the risk, we all would take the opportunity to escape our caves and see a new truth come to light just as the prisoner did when he first saw the sun. In the film the Matrix one is able to break the logical governing rules of the program. In the cave you are have no such liberties, you are strictly a prisoner to the physical rules of the natural world around you i. . being physically chained to a wall and unable to move your head and body. In the Matrix, you are able to freely move around in this perceived reality and even bend the rules of the physical world which we see with Neo especially at the end of the film when he dodges bullets from Agent Smiths gun. There are also similarities and differences between the Matrix and Descartes. In Descartes writing he focused on doubting senses and the idea that the world perceived around him could all be merely a dream. I perceive so clearly that there exist no certain marks by which the state of waking can ever be distinguished from sleep, that I feel greatly astonished; and in amazement I almost persuade myself that I am now dreaming. †- Descartes In Neo’s world of the Matrix, humans are in a permanent sleep being used as an energy source for the computers who can no longer draw off the suns power. While in a state of sleep they are fed through cables in the back of their head a programmed simulation of a perceptual world. Descartes touches on this same concept in his dream argument regarding his perception of reality. Is he awake or is he dreaming? Descartes bases his notion of not being able to distinguish reality from a dream due to the point that dreams can release the same sensory information as reality and therefore we must doubt that sense. His argument seeks to doubt the perceptions of the world given to us by our senses. It was also believed by him that there was no way of proving whether or not we are in slumber or awake. In the Matrix that is a big difference because the characters are able to distinguish between this dream world created by the matrix and reality. Descartes also talks about a great deceiver who is the one obscuring our views of reality. In the Matrix we could we could compare that deceiver to those agents in the program. These agents at one point place a bug into Neo and he awakes the next day believing he was just dreaming. Another example of deception of the senses from the movie is when Neo was tricked by his perception of the lady in the red dress who turned out to be an agent. Whether we are all tied onto a wall restricted by the boundaries of the bonds which hold us there or merely in a state of permanent comatose, one thing is certain that our senses and perception of reality are always in question. Descartes believes that we should always be in doubt of our senses. Even in the Matrix Neo had the same question just like Plato and Descartes â€Å"What is the Matrix†( The Matrix) is it a cave or is it a dream that feels so real we don’t know we are in it? It is very interesting to see the connections behind the works of these two philosophers in comparison to a Hollywood presentation of the ultimate question, are we deceived by our perception of reality? Descartes went into an interesting point in his writing and I personally believe as he, there is a God who is ultimately good and would not let me be in a permanent deception. Though I am not going to get into this deeply I will make one additional thought in my writing that these sources brought up. If God is the one who frees us from our caves, who gives us the option to take the red or blue pill and can we truly know if we are awake or asleep?

Eco Hotel Business Plan

Eco Hotel Business Plan Business Plan ECO-REST Non-Profit Hotel Executive Summary The current hospitality and tourism market finds itself under threat, almost as a direct result of the heightened awareness of the impact that is being Imposed by the relatively new phenomenon that is know as climate change. The market: As an industry the hotel and hospitality sectors have an abundance of establishments, particularly in the Greater Miami areas. In essence it could therefore be argued that there is no need for yet another hotel. The answer to this viewpoint is that the proposed ECO-REST hotel project has two distinctive and unique features and benefits that provide it with a potentially new business model that, to a large extent, will enable the hotel to create its own niche marketplace. Further, the diversification into the non-profit arena, with the objective of feeding excess income out to support community based environmentally positive projects, does show that the non-profit hotel organisation can bring about change in an effective manner and one that involves every member of the local community. Customers: Research has shown that the business and leisure traveller are becoming more discerning; In particular this reveals itself in the concerns that are being expressed relating to business response to climate change. The overwhelming majority of consumers now believe that it is the duty of the hotel operator to encompass the improvement and changes needed to combat global warming and they are prepared to pay a premium to those establishment that can prove they have adopted eco-friendly systems and structures within their operational procedures and methods of trading. With 80% of travellers being of in favour of this position it is clear that there is a need for the hospitality organisations to adapt their objectives to a set of rules that takes into account the demands of the consumer and face the environmental issue. Alternatively, they face the risk of the loss of competitive advantage and market share, neither of which options would be received positively by shareholders who are the m ajor investors in the hotel sector. Hotel features: The features that are being included within the design and build of ECO-REST are intended to include all the latest technology and design that is being used and recommended as a template for reducing the impact that hotels have upon the environment. These include energy saving systems, methods by which the maximum benefit is gained from the use of daylight; solar and wind-power and the recycling of all basic discarded and waster material. The green features also extend beyond the needs of the building to address environmentally friendly systems in the garden and grounds belonging to the business. In fact the whole ethos of the business is to approach every aspect of the business operation of the basis of â€Å"how green can it be.† Research has shown that this approach not only provides a competitive advantage when seeking to increase market share but also has a positive affect upon the profitability of the business as well. Operating principles ECO-REST has a philosophy that is specifically designed based on giving back to the customer, which is the reason why it was decided that this project should be styled as a non profit making charitable organisation. This allows the business to have the extra flexibility to be able to donate to organisations of its choice that will be of positive use to the community and its environment. The Future There is little doubt that as the warning relating to climate change becomes more vocal people are going to become more strident in their demands for the traditional systems of commerce. It will not be acceptable in the future to react with cosmetic measures designed to appease. In the future consumers will want to proof of improvements. Hotels such as ECO-REST are examples of structures and establishments that contain that proof. Therefore there is little doubt that the opportunity exists to be able to take this business model and replicate it, not only in other areas of the US but also to the international community. Contents (Jump to) Executive Summary 1. Introduction 2 Target market opportunity 2.1 Tourism 2.2 Business Eco-travel 2.3 The hospitality and tourism market in Florida 3 Marketing 3.1 Tourist and corporate travel operators 3.2 Advertising and promotion 3.3 Strategic alliances 4 Competitors 4.1 Five forces analysis 5 Corporate strategy 5.1 Start up strategy 5.2 Operating principles 5.3 Operational programme 6 Management and governance structure 7 Financials 1. Introduction It is extremely rare to find a hotel establishment within the commercial market that operates on a non-profit making basis, with all excess revenue earned during the year being used for charitable purposes rather than to enhance shareholder/owner value. Similarly, few hotels have taken full advantage of all the green and eco-friendly and sustainable measures that are available to this sector of the hospitality industry. The ECO-REST hotel project is designed to fit within both of these criteria. ECO-REST Hotel, an establishment that will have 120 rooms and be based in Greater Miami, Florida, will make full use of all currently available environmentally friendly practices and partner with environmental organisations to donate all profits to help fund local green and sustainable projects. This report contains the proposed business plan for ECO-REST Hotel and will outline the research that has been conducted into the market, its competitors, the anticipated financial performance and req uirements for the project. 2. Target market opportunity Research has shown there is an increasing demand from tourists and business travellers for hotel establishments that took the incorporation of environmentally measures within their establishments seriously and were prepared to pay a premium for accommodation that fulfilled these requirements. 2.1. Tourism Although there are various forms of tourism[1] in the context of the ECO-REST project the concentration will be focused upon Ecotourism and sustainable tourism. In these two areas there are significant indicators that these forms are the future growth sectors of the industry, as can be evidenced from the following: From the beginning of the last decade it has been estimated that ecotourism has been growing at an annual rate of between 20% and 34%[2] Eco and sustainable tourism numbers in 2004 was outpacing the overall tourism industry growth by three times[3] Produces economic benefit for the local community, in terms of increased employment 62% of Americans consider it important to learn about other cultures when they travel[4] 80% of Americans consider hotels should take steps to protect the environment[5] and an increasing number base their accommodation selection upon these factors In addition to the above most research has indicated that these forms of tourism have economic benefits for the hotels and destinations. 2.2.  Business Eco-travel The corporate market is also becoming increasingly involved with environmental and sustainable issues[6]. This has occurred both because of the increasing national and international legislation that is being introduced to tackle the effects of climate change and is being influenced by the changing demands of their consumers. An integral part of annual reporting for the majority of corporations today is the inclusion of a corporate and social responsibility report (CSR). Within this document is included an overview of the business response and performance upon issues such as steps to make the corporation processes and operations more environmentally friendly and its contribution towards sustainability within the local community. Reducing the corporate carbon footprint is as essential element of these CSR performances and therefore the importance of the environmental impact of business travel, which hotel and hospitality accommodation is an element of, is becoming increasingly importan t for the business brand. The US travel industry is one of the economy’s largest sectors and produces revenues in excess of $100 billion per annum, of which 70% is spent on domestic travel. Of this domestic travel element approximately 45% is related to business travel and accommodation requirements. Based upon the fact that 80% of the US population believes that hotels should take a protective approach to the environment, it therefore is apparent that there is a considerable potential for revenue growth to be generated by offering corporate hospitality, with the product being enhanced to include the environmental and sustainable factor that are becoming increasingly important. 2.3.  The hospitality and tourism market in Florida As can be seen from the following graph (figure 1), the visitor numbers to Florida as a state has experienced a year on year growth of domestic, overseas, and Canadian visitor numbers since the turn of the century[7]. These numbers include both the business and tourism sectors. As can be seen from this graph, although the numbers of overseas an Canadian visitors have remained relatively flat for the period, the significant rise in domestic tourists has increased by nearly thirty percent as more US citizens are taking domestic vacations. In addition, the same research indicates that, of this number, approximately 44.3% uses hotels and other paid accommodation, which in 2007 equates to around 37.4 million guests to be accommodated. In terms of the hotel market specifically related to Miami, a recent report indicated that occupancy rates for the Greater Miami area for the first four months of 2008 were up to 80.5% with room rates averaging $196.61[8]. However, this position is expected to have slowed during the final part of the year and is likely to remain static for 2009 due to the global economic downturn. Nevertheless, as will be shown later within this report, these rates are considerably higher than the business plan for this project envisages. 3. Marketing ECO-REST hotel has set its target occupancy rate for the business at 70% with an average room rate, taking into account discounts and special offers, of $170. To achieve the targets set, a strategic marketing programme has been designed, which will concentrate upon the following three areas. 3.1.  Tourist and corporate travel operators Although a number of eco-tourists and business travellers tend to book and compile the component parts of their visits to Florida and Miami via the Internet, a large number still rely upon the services of external agencies. These include travel agents and tour operators. It is the intention of the business to create relationships with these organisations, particularly those that have an interest in eco and sustainable tourism and hospitality. To cement these relationships, the hotel will offer discounts at certain times and also provide evaluation and inspection visits, particularly at times of low occupancy, to enable representatives from these organisations to have a better understanding of the facilities offered by the hotel and its aims and objectives. 3.2.  Advertising and promotion It is important part of the strategic marketing programme for the business to promote the unique selling points (USP’s) of its business. Therefore, the focus of promotional material will be the environmentally friendly aspects of the business accommodation and the charitable support it provides to local and regional organisations directly involved with projects that address these issues. Furthermore, it will be necessary to ensure that the promotional message is directed to the most appropriate market segment. To achieve this objective the business intends to take a threefold approach. Promotion to destination organisations, such as cultural and nature attractions, including seeking to have the hotel advertised on their advertising literature Linking with members of such organisations through newsletters or other advertising based upon their membership lists Appropriate advertising targeted at the publications and media events relating to the issues that are relevant to the hotel’s aims and objectives In addition to these methods, it is intended to design an attractive website that displays and promotes all the important aspect of the hotel and its facilities. This will include visual and video images of the hotel and audio as well as written data and an interactive booking facility. The online promotion programme will also include a significant element of networking. This will be achieved by the creating of a corporate blog, interactive links with relevant organisations and charities and involvement with appropriate social networking sites, such as â€Å"You-tube†. 3.3.  Strategic alliances The third aspect of the marketing strategy for the business is to create strategic alliances with organisations and corporations that provide a fit for ECO-REST hotel’s USPs. Included amongst this selection will be the state tourist and environment offices, local NGO’s such as Friends of the Everglades and historical and cultural destination operators. To access the corporate market alliances will be formed local and regional trade and commerce associations supported by personal invitations to local corporations to visit the hotel and experience its facilities with the objective of securing occupancy from the out of areas suppliers and sales personnel that visit these businesses. It is anticipated that a targeted and disciplined marketing and promotional programme that incorporates the above described elements will enable the business to achieve its occupancy target within the first year of operations. 4. Competitors There are a considerable number of hotels and similar establishment in Florida and in the Greater Miami district. A reasonable segment of these hotels, due to their small sizes and limited facilities, would not present a competitive threat the ECO-REST’s project. Furthermore, in terms of specific comparisons, whilst most of the hotels have made certain attempts at becoming eco-friendly, many still have areas in this regard that require improvement. Evidence of this can be found at a website called Best Green Hotels, which reviews hotels and accommodation by a set of environmental indicators[9]. An example of this criterion can be found in appendix 2. The scoring system, based upon a â€Å"green† tree badge system, works in the following manner. 1 tree=1-4 ticks on the list 2 trees=5-9 ticks 3 trees=10-15 ticks 4 green trees=16-22 ticks 5 trees=27-29 trees 6 trees= 27-28 ticks 7 trees=29 ticks (maximum) A review of the 224 hotels listed for Florida and the six specific to a Miami search shows that none of these establishments have so far achieved a position of more than four stars. The aim for ECO-REST hotel is to create an environment that will enable the establishment to fulfil all of the stated criteria, thus achieving the highest award level offered by this listing. The intention therefore is to use this criterion as a guide to ensure that the environmental objectives of the business are achieved. 4.1.  Five forces analysis Addressing the hotel market in the Greater Miami area by using the five forces strategy developed by Michael Porter[10] it is anticipated that, whilst there are some concerns, the objective discussed earlier should place ECO-REST in a strong position to be able to gain a competitive advantage. Figure 2 Porters five forces Source: http://en.wikipedia.org/wiki/Porter_5_forces_analysis Rivalry Due to its location and brand awareness in the tourism and hospitality industry, the supply of hotel rooms in the Miami area is reasonably high, with a number of establishments that the tourist and business traveller. With the ECO-REST project involving the razing and rebuilding of an existing establishment it is unlikely that there will be any appreciable increase in the supply of room nights available in the area. Similarly, as the business average rate determinate is in line with current market rates it is considered unlikely that rivalry based upon price will be an immediate issue. It is further anticipated that the strategy being adopted by the ECO-REST hotel has a sufficient level of product differentiation to reduce the influence that rivalry might have upon its establishment[11]. In addition, research undertaken to date, mainly web based, has revealed few hospitality establishments operating on a non-profit basis apart from those directly aimed at the social service market, for example, those dealing with issues such as homelessness and persons experiencing social deprivation for a number of reasons. Supplier power Because the business is seeking to work through a number of strategic alliances within the travel industry and providing incentives from which these stakeholders will benefit, the level of supplier power will be reduced. An additional benefit in this respect will be accomplished by the fact that excess revenues from the ECO-REST project will be fed back to local environment and cultural project, thus leading to a level of competitive advantage that would not be achievable by the commercial hotel sector. With the requirement of creating â€Å"added value† for their shareholders, together with the cost of dividends, taxes and management benefit packages; these corporations will not be able to compete with the donation levels available to ECO-REST. Furthermore, the prospect of such funding will enhance the value of the relationship that ECO-REST will enjoy with local suppliers. Buyer power Buyer power is perhaps the most volatile element of the five forces framework to assess for two reasons. Firstly because the product has to match with the buyer’s or consumers purchasing determinates and demands and secondly because the experience has to match with their expectation in terms of satisfaction. However, based upon the researched that has been outlined in sections 2.1 and 2.2 of this proposal it is considered that the product offered by ECO-REST hotels addresses the first of these issues in that the hotel environment matches the increased demands for an environmentally friendly product. In terms of the second aspect, it is considered that, with the degree of quality attached to the hotel establishment and the anticipated service quality, the physical experience should exceed the consumers’ expectations. Substitute products Existing hotel establishments will find it impossible to match the product that is being offered by ECO-REST hotels without a severe disruption to their current trading levels. The benefit for ECO-REST is that this project is commencing with a â€Å"clean sheet† approach. This approach allows for the incorporation of eco-friendly systems at the design and construction stage of the project (see more detail in section 5). These will be applied to the building itself, its utilities and the external landscape. The cost of conversion or redevelopment of an existing hotel, particularly if undertaken by a commercially orientated organisation, would prove prohibitive to existing operators. Additionally, in the event that such organisations should decide to follow the lead set by ECO-REST hotel, the timescale for redevelopment provides this project with the benefit of being able to consolidate its market share and â€Å"first-mover† position in this niche sector of the hospitality market. Barriers to entry Barriers to entry into the niche market that is being anticipated within this project are considered to exist in the following areas: Non-profit structure The fact that the ECO-REST hotel is designed to be a non-profit organisation will reduce the numbers of new entrants by eliminating the commercial investor from this sector of the hospitality market as, if this model is followed; there is no commercial return on the investment made. Cost and timescale for development To commence a development of the nature of ECO-REST hotels does require the outlay of a considerable cost. Moreover, the timescale to completion is anticipated to be in the region of nine months. These factors will have a deterrent effect upon new entrants in two ways, particularly if this entrant is a commercially minded organisation. Firstly, the return on the investment in the short term will influence the level of costs attributable to the project. Secondly, the time taken for completion will provide first movers and preceding entrants, such as ECO-REST with the ability to establish the Brand and gain competitive advantage Strategic alliances The development of strong strategic alliances with the organisations as outlined in section 3.3 of this report, together with a programme that ensures continuing process of bi-directional and interactive communication between the ECO-REST business and these stakeholders will serve to reduce the potential of such organisations being tempted to change their allegiance to new entrants. Research has shown that, providing the right quality of service and commitment to stakeholders is maintained their inclination to change to a new promotional or revenue source will be reduced. Economic benefits As will be evidenced in the financial details contained within section 7, the reduction and elimination of the commercial elements from an operation that is conducted within the non-profit sector does present certain advantages to the beneficiaries of the product. In particular, in the case of this specific project those beneficiaries exist within two main areas. In the first instance of the profits (or excess revenues) from the ECO-REST project are being returned to the local economy. Secondly, and of equal importance, the project is designed to attract a more affluent and discerning visitor to the locale, which will increase revenues enjoyed by other commercial organisations situated in the Greater Miami district. Community benefits Finally, the project is designed to bring benefits to the local community. By increasing tax revenues to the district it enables the local authority to undertake more improvements to the community infrastructure and the environment in which its citizens dwell. Similarly, by increasing the funding available to local tourist natural and cultural destinations the project will improve the community’s enjoyment of their leisure facilities. 5. Corporate strategy Within this section of the business proposal the strategy and operational principles and procedures for the ECO-REST hotel project are presented and discussed in further depth. 5.1.  Start up strategy ECO-REST hotel is currently working closely with the WTO[12], a local architect and a US construction corporation renowned for their involvement with the construction of environmentally friendly buildings. With the increased levels of concerns relating to environmental issues and the desire to sustain local destinations and environments, it is anticipated that the planning application and approval stage of this development should be completed within two months of that application being lodged with the local authorities. Currently two sites are being evaluated and discussed concerning their suitability for the project. The basis for continuation of the project has been agreed to concentrate around the following format. The construction company, taking advantage of the favourable grants and loans available for the construction of environmentally friendly structures, have agreed to fund the cost of the building works. In return for this advantage, the property, when completed, will be leased back to ECO-REST for a period of forty years at a rate that is commensurate with current market values. Consideration is being given to extending this business model and concept throughout other US states in the future, thus increasing the funds available to local natural and cultural destinations and enhancing the lifestyle and economic wealth that attracts to the local community. This project will also serve the purpose of heightening the awareness of the population to the environmental issues and dangers currently being faced by the global community, whilst at the same time demonstrating that the solution to these issues does not always require the motivation of the profit or shareholder â€Å"added value† drivers. Furthermore, it will also show that, providing the desired relationships can be developed between social and environmental needs and the commercial ethos in a manner that merges the motivational needs and requirements of all of the stakeholders, each and every one of these stakeholders will benefit from the concerted effort required to complete and fulfil these pro jects. 5.2.  Operating principles The operating principles, or mission statement, that has been proven to be the driving force behind the ethos upon which this project has been developed is: â€Å"It is possible, by the building of a new and unique relationship between the varied objectives of numerous stakeholders, to create a vision for the future that satisfies the needs and aspirations of all of these parties.† Furthermore, following the success of this project it will also show that, providing corporations within the tourism and hospitality sector fulfil the promises that are made to other stakeholders within the supply chain, . Environment To ensure that the ECO-REST project addresses the environmental issues being faced by the global community in the twenty-first century, and to set an example for the future, the following are some of the environmental systems of improvements will be used in the construction and design of the new building. These methods are also intended to enhance the comfort of the experience for the guests who stay at the hotel. Building The basic structure will be circular in shape and all of the rooms will be build around a central core which will house on the ground floor the extra facilities such as the conferencing rooms, dining and lounge areas. A special glass central roofing section will be installed, enabled to warm the building in the winter and cool it during the summer. As many common areas as possible will be walled in glass (similar to the design on the book cover left). The advantage of this design and roofing is that it will increase the amount of daylight that penetrates the building, thus reducing energy usage. Much of the structural work will make use of recyclable materials. It has also been noticed that in standard hotels one of the major sources of energy waste evolves from the fact that the bedrooms and accommodation areas are often quite dark, even during the course of the day. To reduce the use of lighting in these areas the bedroom windows will stretch the width of the room. Moreover, the main doors will be panelled with non-see-through toughened glass to improve daylight access to the rooms from the centre of the hotel. Energy systems Modern environmentally friendly energy systems will be incorporated into the building. This will include the use of Geo-thermal underground heating, solar panelling for water heating and other power supply purposes. In addition, miniature wind turbines will be strategically placed around the building structure to support the efforts to make the hotel free from reliance upon fossil fuels. Water In terms of the water supply a grey water system will be installed to ensure that waste water is cleaned and recycled for use in such areas as the toilet system and for garden irrigation purposes. Additionally, modern water saving techniques will be used in the bathroom facilities and the central hotel laundry. Finally, water storage systems will be installed to ensure maximum usage of natural rainwater. Waste As much human waste as is possible will also be treated and recycled in the outdoor garden areas. Guests will also be encouraged to help in the recycling process through the provision of special bins in their rooms so that they can separate the waste paper etc that is left from their stay. Garden and landscaping It is intended to also extend the environmentally friendly and sustainable systems into the garden area with the designing and implementing of xeric gardens and, furthermore, one new tree will be planted in the grounds for each of the bedrooms and suites that the hotel offers in

Information Technology in Society Essay -- Technology, Computers, The

Introduction In recent years there has been a big change as revolution in the computer and communication world and all the signs are that technological development and employ of information technology (IT) will continue go on with a fast velocity. Advocating and accompanying the impressive developments in the power and continue employ of latest information technologies has been the communications’ declining cost consequently of both technological enhancements and developed competition. Such great progresses in development present several major and great opportunities but also pose a lot of challenges. Nowadays, increasing in inventions in the field of IT are having extensive effects all over the society, and different strategy makers are working on various issues in which economic output, rights of intellectual property, protection of privacy and approach to information. Option created now will have enduring effects, and concentration must be devoted to their socio-economic impacts. The most important and very effective outcome of the development of IT is most likely the electronic communication and commerce through the Internet, a latest approach of leading the business. However, in recent times, it may fundamentally change the economic behaviours as well as the social atmosphere. Previously, it impacts those important fields like communications and interactions, retail business and finance and might spread out to sectors mainly like the services of health and education. It involves the seamless process of communication as well as information technology all along the whole business value chain that is managed electronically (Castells, 1996). Literature Review The IT has impacted numerous aspects and features o... ...ted to change in the future times. Finally, the relevancy of a contemporary informational infrastructure to the socio-economic well-being of a society cannot be undervalued. Most favourable options, be they social, cultural or economic must be relied on the finest accessible information. The information’s quality determines the efficiency of any provided choice. In the people sphere, approach to believable information and data is a prerequisite to pluralistic and participative democratic system, development of human, social and economic clearness, and the development of different society. Understanding, knowledge and information infrastructures encourage and support conversation between those holding different thoughts. It is only in an environment in which authentic realities and information are obtainable that people can establish own views and perspectives. Information Technology in Society Essay -- Technology, Computers, The Introduction In recent years there has been a big change as revolution in the computer and communication world and all the signs are that technological development and employ of information technology (IT) will continue go on with a fast velocity. Advocating and accompanying the impressive developments in the power and continue employ of latest information technologies has been the communications’ declining cost consequently of both technological enhancements and developed competition. Such great progresses in development present several major and great opportunities but also pose a lot of challenges. Nowadays, increasing in inventions in the field of IT are having extensive effects all over the society, and different strategy makers are working on various issues in which economic output, rights of intellectual property, protection of privacy and approach to information. Option created now will have enduring effects, and concentration must be devoted to their socio-economic impacts. The most important and very effective outcome of the development of IT is most likely the electronic communication and commerce through the Internet, a latest approach of leading the business. However, in recent times, it may fundamentally change the economic behaviours as well as the social atmosphere. Previously, it impacts those important fields like communications and interactions, retail business and finance and might spread out to sectors mainly like the services of health and education. It involves the seamless process of communication as well as information technology all along the whole business value chain that is managed electronically (Castells, 1996). Literature Review The IT has impacted numerous aspects and features o... ...ted to change in the future times. Finally, the relevancy of a contemporary informational infrastructure to the socio-economic well-being of a society cannot be undervalued. Most favourable options, be they social, cultural or economic must be relied on the finest accessible information. The information’s quality determines the efficiency of any provided choice. In the people sphere, approach to believable information and data is a prerequisite to pluralistic and participative democratic system, development of human, social and economic clearness, and the development of different society. Understanding, knowledge and information infrastructures encourage and support conversation between those holding different thoughts. It is only in an environment in which authentic realities and information are obtainable that people can establish own views and perspectives.

Freedom Vs Destiny :: essays research papers

Freedom VS Predestination   Ã‚  Ã‚  Ã‚  Ã‚  People like to believe that they have the freedom to choose what they want to do, however it is quite the opposite. Freedom has its limitations to what people are allowed to do, but predestination has no limits of any kind. Freedom is in fact used to cover up predestination, to keep people content in following absurd rules. Without predestination, how do we know what the weather will be like, or if the sun rises, or if someone will stop at a red light. You just do, common things that we think are just â€Å"common sense,† are really not, people stop at those red lights in order to sustain their life, not by their choice of, I don’t want a ticket.   Ã‚  Ã‚  Ã‚  Ã‚  Predestination makes the most sense of the two. There is no other way to explain things such as, people who grew up poor, yet somehow managed to create their own company and become multimillionaires. They were destine to create that company, it was not freedom. Freedom wouldn’t have given them the opportunity to show their ideas, it only allows them to create them. Predestination explains almost ninety percent of what happens in the world, from birth to death, and even pure luck. Freedom can not cause you to have â€Å"good luck† in a day, it is predestination which brings you to this â€Å"good luck.†   Ã‚  Ã‚  Ã‚  Ã‚  Freedom is a fallacy that takes over the human race like a parasite. It is used to cover up what people do not want to believe. Murderers had the â€Å"choice† to kill that person, or was it just their time to die according to their destiny. In this case, freedom is used to make it easier on the people of the dead person, rather than having them face the truth that it was just their loved one’s/friend’s/etc.. time to die. It is also said that freedom controls not just physical actions, but creativity in the mind. If that’s so, then why isn’t everyone born with the ability to draw or paint or make something with the same skill? A simple answer, they were not born for that purpose, that skill has no part in their destiny.

math graph story :: essays research papers

Between study group, debate, and chess tournaments there wasn’t much of a social scene around Winchester University in Omaha, Nebraska. The school year at this college was year round, but the students were given a 30 day summer vacation in July. The majority of the students went back home to visit their families during this time. But as juniors at the University Charles, Fredrick, and Stanley, all childhood buddies, decided it was time for a change and that they needed a little more spice in their life. Realizing that they were almost twenty-one and had never breached their comfort zone, they knew a road trip was in store.   Ã‚  Ã‚  Ã‚  Ã‚  As June came to an end the nearly grown men finished exams and planned to leave for their escapade the first day of July, also being the 1st day of break. They made a pact to keep the trip a secret until their return, for the main reason that their parents wouldn’t approve. If their families had any question as to why hey weren’t coming home to visit, they would simply say they were staying at the University to get ahead on the following year. This would be a reasonable lie, because no one would expect them to do any different.   Ã‚  Ã‚  Ã‚  Ã‚  The morning of their departure they loaded all the luggage and food that they could into Fredrick’s forest green Ford focus. Before they pulled out of the parking lot they had to lay some ground rules:   Ã‚  Ã‚  Ã‚  Ã‚  ~ No school attire   Ã‚  Ã‚  Ã‚  Ã‚  ~ No proper English   Ã‚  Ã‚  Ã‚  Ã‚  ~ No acting like themselves, only the new â€Å"cool† young adults that they were. Freddy, as they called him, established one last rule. They were to stop at four places and the rest of the time they were driving. This gave them a reasonable amount of time to live and get back to the University to start the New Year. And now†¦they were off†¦ As Freddy peeled out of the parking lot Charles, sitting in the passenger seat, turned on 93.3 KTNP modern rock.. The first 3 days of their trip were mainly getting out of the places they had seen time and time again. They didn’t experience much except for driving and eating as they reminisced on the past. Stopping frequently for Stanley’s immensely small bladder they reached about 50 miles the first few days. As they approached the evening on July 3rd they drove by a college, and decided to see if anyone would let them crash for the night.

Security Analysis & Portfolio Management

1. Introduction Before Fama and French question it, most business schools taught their student CAPM is the means of describing the relationship between expected return and risk in stocks. In 1992, Fama and French hade a study on stock market decision factors of differences between stock returns, they found the beta (sensitivity to the market return) of the CAPM cannot explain all the differences between the stock returns, and the market value, book value ratio, p/e ratio of listed companies can explain the differences between the stock returns.The Capital Asset Pricing Model (CAPM) by Sharpe (1964), Lintner (1965), Black (1972), believe that stock returns just relative to the risk of the whole stock market. But in fact, only measures the risk cannot explain all the variation in expect returns, the sensitivity to the market return is more complicated. This article will show the different between Capital Asset Pricing Model and Fama & French Model, and the way to analysis the stock ret urn. 2. Comparison of Value versus Growth Stock 2. 1 Value Stock & Growth StockIn this article, the researchers define the value stock as those stocks that have low ratios of book value to market value, the growth stocks as those that have low ratios of book value to market value. 2. 2 Findings of Value versus Growth Stock on Investing Most investors think the growth stocks can bring a better return, because they think those are good company, and the returns will be high. But the researchers find the growth can bring a better return, the value stocks got a high price by the market, which make their returns be low.In fact, the growth stocks have low ratios of book value to market value, it make the growth stocks get good return. 3. Determinants of stock return Fama and French founding that the market risk factor and the value-growth risk factor can explain average return of this set of large international stocks. The market risk factor is the return on an international market portfol io of stocks, and the value-growth factor is the difference between he return on an international portfolio of high book-to-market stocks and the return on an international portfolio of low book-to-market stocks. 4. Capital Asset Pricing Model vs. Fama & French Model 4. 1 CAMP and Its Importance The CAPM is built on a single measure of risk that explains asset returns. The CAPM helps investors determine how much they will earn by taking into account the risk of investments and the time value of money. With higher risk, the investor will want a higher rate of return for his investment.Although most researcher question CAMP, but this model still used widely in investing. Use beta to forecast single stock is different, but the investors still believe that, when the stocks’ portfolio of beta is small, it means the stock change small than the volatility of the market; when the stocks’ portfolio of beta is large, it means the stock change more than the volatility of the mark et. For the fund managers, this is important, they can use the CAMP, and no matter the market price is rising or falling.When the market price is falling, they can invest the portfolio of beta is low, and vice versa. 4. 2 Fama and French Explanation about Stock Return Compared with the CAMP, Fama and French use more complicated way to explain the stock return. They use three risk factors to design a more perfect model. It often used by the finance professionals to explain the risk and return of equity portfolios. In this model, the beta still is the most important risk factors.The second risk factor is the size, it compare the weighted average market value of stocks in the market. Small stocks have a different activity than big stocks in ever market. In the long run, the big stocks have low returns than small stocks. But this return is not free, the small stock have more risk. The third factor is comparing the amount of value stock exposure in relation to the market. In most compani es, the value stock rend have lower earnings growth rates, higher dividends, and higher book-market value.In the long run, the value have higher return. 4. 3 Implications of the Two Models for Investors This tow models had implications for investors, although the CAPM is not accurate,but it still can help people to get investing idea for the market. First of all, the CAPM thinks the market too simple, it only considers the risk, and there are at least two additional dimensions of risk, no matter it is a domestic or international portfolios of stock, it is get rewarded in average returns.Secondly, another implication is that, it makes the investors believe the value stocks have higher returns than growth stocks in markets around the world. Looking at book-to-market equity, Fama and French found that value stocks outperformed growth stocks in 12 of 13 developed countries from 1975 to 1995, and that the difference between average returns on global portfolios of high and low book-to-mar ket stocks was 7. 6 percent per year. Furthermore, when earnings-to-price, cash flow-to-price and dividend-to-price were examined, the value premium continued to be evident.Conclusion Although the CAPM stills an important mean to describe the relationship between expected return and risk in stocks. But CAPM has some serious flaws, especially with the assumptions of the risk-free rate and the market rate. Investors must consider current market conditions before deciding what numbers to use. Additionally, CAPM ignores taxes and transaction costs, lower returns on higher risk and adequate risk measurement. Fama and French think more about the stock return, this model use more risk factors to analysis the change of the stock price.

Effects of Online Advertisements on Newspaper Advertisements Essay

Advertisements can either take the form of print advertising through newspapers, magazines, brochures, and fliers or in non-print form such as those found in television, radio, video, and internet. The key purpose of advertisements is to bring to the attention of potential customers the existence of a new product or service. A good advertisement should be able to persuade the potential customers to purchase and keep them motivated to do a certain action (Tolani, 2010). While the function of advertising has not changed from the act of influencing the decision of a potential customer, the form of advertisement has radually evolved with new advertisement media emerging. Radio advertisement emerged with the coming of radios in the 1920s. The number of people who owned radios increased to about 82% by 1940. However, television was introduced in the 1950s, and was soon a common appliance in almost all households. This resulted in the increase of television advertisement expenditure to near ly $1. 5 billion by 1960s. Outdoor advertisement can be traced back to the post World War era to the American Safety Razor Company in 1925 when it advertised a brushless shaving cream on a mega billboard (Tolani, 2010). The advent of video cassette recorders saw a new trend in advertisement during the period between the early 1980s and late 1990s. The video cassette recorders became very popular with viewers, but video advertisement met a major hitch as viewers easily fast-forwarded ONLINE AND NEWSPRINT ADVERTISEMENT 11 through advertisements while watching tapes. This compelled firms to resort to product placement in which their products were used in television shows and films. The latest media development in this field is the use of internet for advertising. There has generally been an increase in computer ownership and the use of internet has rapidly grown. It might not be easy to predict the advertisement media that will be widely used in the future. However, it is an open fact that advertisements will continue to improve and strive to become more useful to businesses and to the consumer (Tolani, 2010). Entrepreneurs and business managers are faced with the challenge of making a choice for an advertising media on a daily basis. This is because the success of their establishments greatly depends on the ability of the entrepreneurs and managers to create product and service awareness, build their firm’s image and reputation, and generate sales leads and revenues. These efforts can only be realized by the use of newspaper and magazine advertisements, radio advertisements, television advertisements, outdoor advertising, web advertising, among many other advertising media. What will determine the final medium choice may vary from one business to another and the various factors that are in play toward meeting the specific business objectives (Patsula Media, 2007). Irrespective of the medium of advertisement that a business chooses to use for its products and services, it is important to note that both the print advertising and online advertising are highly necessary, given that the approaches toward both, the purposes, and even the audiences are very different. It is not very advisable to consider one of these media as more effective that the other on mere basis of seasonal variance because either may overtake the other at some give time. A good number of people also have access to both sources and this makes it ONLINE AND NEWSPRINT ADVERTISEMENT 12 mportant for entrepreneurs and business managers to give due consideration to both (Web Windows, 2010). Thesis Statement Given the increased growth of information that is available over the internet and the subsequent increase in the number of people who tend to spend more time on the internet, companies are turning to advertise their goods and service online so as to capture this newly generated m arket. Emphasis has thus shifted to the possible effects that this emerging trend of online advertisement may have on newsprint advertisement, both in popularity and advertisement revenue. Statement of the Problem Advertisement plays a very important function in the trading processes as it is the only means through which a business can bring to the attention of the consumers about their products, introduce a new product in the market or promote the sales of an existing product or service. All these are core activities—without which, a business setup cannot effectively compete for customers in the already-crowded market. Though there are numerous media through which a business may place its advertisements, the most commonly used medium is the newspaper because of its wide readership and circulation. With the advent and advancement of technology, newspaper publishers have embraced information technology to an extent of presenting their publications both as newsprint and online versions. This advancement means that entrepreneurs have the option of choosing which version of a newspaper through which to place their advertisements. This will mainly be determined by an entrepreneur’s own evaluation of the medium that will best suit the business needs. Lately, there ONLINE AND NEWSPRINT ADVERTISEMENT 13 as been growing debate about the popularity of online newspaper and newsprint. This debate cannot escape the attention of entrepreneurs who significantly rely on these news media for their advertisements. There is general consensus that online versions of newspapers are gaining popularity among readers worldwide. Could this increasing popularity and, to some extent, translate into increased preference by entrepreneurs to place their advertisements online instead of the newsprint version of newspapers? Background of the Problem Given the central role which newspapers play in the advertisement of goods and services by businesses, it is only important that entrepreneurs give special attention and critical evaluation on the volume of readership and scope of circulation of both the online version and newsprint version of newspapers. This would mean that new considerations are factored in when making a choice for advertisement media by business contrary to previous emphasis that focused only on readership and circulation. Ability to access n advertisement by potential customers is a major concern that attracts heated boardroom debates in companies, particularly due to intense competition for the crowded market. The significance of an advertisement media with regard to scope of outreach means that both entrepreneurs and advertisement agencies have a responsibility to adopt the use of advertisement media capable of optimizing market outreach for a product or service. Key aspects for consideration with regard to ch oice of advertisement media are mainly in areas of target audience and access. These entail considerations of readership and circulation which would ensure that an advertisement reaches the highest number of target audience within the shortest duration possible and draws attention in the most appropriate way. ONLINE AND NEWSPRINT ADVERTISEMENT 14 While many entrepreneurs are coming up with several measures of ensuring they significantly save on advertisement costs for their products and services, advertising agencies are of the opinion that optimizing market outreach can best be achieved by choosing a media with huge readership and wide circulation. Key areas suggested by advertisement experts include impact and ability to attract attention among other advertisements. When due consideration is given to these two aspects, an advertisement media will be able to achieve market outreach by approximately 70%, which is equivalent to nearly 5% of the total product market in a crowded environment. It is generally agreed that upgrading of newspapers to online versions can help to significantly improve their readership and accessibility, translating to wider market outreach for online advertisements. Such advancement in technology has for long been credited as significant part of increasing readership, expanding circulation, and making lasting impact in advertisement. The most remarkable gain for online advertisement can be attributed to the increase in number of people owning computers and therefore spending a lot of time on the internet unlike the numbers of people buying newsprint and the time they spend reading it. Justification for the Study Effects of online advertisement toward newsprint advertisement are a welcome topic at this time when there is growing concern that newsprint advertisement is becoming less and less effective in an environment where consumers are increasingly getting their information online and from other non-traditional sources. This belief has also drawn a lot of objection from newspaper advertisement sales agent who insist that newsprint advertising is more effective than online advertising. To them, newsprint advertising is tangible, making it possible for a potential ONLINE AND NEWSPRINT ADVERTISEMENT 15 customer to clip it out, hold in the hand and carry to the store unlike online advertisements, which is only visual. Though online advertisement can cost a business slightly more, it is becoming more popular with consumers and can thus not be simply brushed off. This calls for a strategy that will ensure that this advertisement medium is embraced without jeopardizing the profits of a business. Deficiencies in the evidence The choice of an advertisement media that an entrepreneur or a business opts to use for its products or services are mainly determined by size of business and the target audience— whether they are other businesses, youth, elderly, men or women. The access to an advertisement by these groups of persons is quite varied as all of them have their own preferences of media choices. The youth may be found of internet while the elderly may be accustomed to newsprint. While online advertising may make a big impact among the youth, it may not necessarily do the same with the elderly or housewives. The size of a business will also play a big role in the choice of advertising media. For example, small businesses may not have all the money to invest in certain media which are considered expensive and are therefore a preserve for big businesses. Advertising is an expensive venture and may not be appealing or affordable to all entrepreneurs. This means that the choice of a media may not necessarily be determined by its effectiveness but rather by the investment capacity of any given entrepreneur. Evidence obtained for this study will thus be influenced to a greater extent by individual entrepreneur considerations and not necessarily by the popularity of any given media. ONLINE AND NEWSPRINT ADVERTISEMENT 16 Definition of Terms Advertising Media: refers to means by which an advertising message is carried to potential customers and includes television, radio, internet, magazines, newspaper, and signage Online Advertising: refers to advertising that is done over the internet Newsprint Advertising: refers to placing advertisements on a newspaper Purpose of the Study The purpose of studying effects of online advertisement toward newsprint advertisement is to: 1. Ensure that entrepreneurs are provided with ample information regarding the various advertisement media to enable them make informed choices 2. Ensure that myths revolving effectiveness of either newsprint advertisement or online advertisement are eliminated and substituted with live statistics 3. Ensure that advertisement agencies are able to adjust their media in a manner that will enable businesses reach their target audience in the most effective way and at the least cost possible 4. Ensure that recommendations are made that would help entrepreneurs make a choice on the most effective media for their advertisements. This study is significant because it would help in ensuring that useful information is made available to help entrepreneurs with their advertisement decisions, particularly those focusing on newsprint and online advertisements. It will also ensure that advancements in technology are ONLINE AND NEWSPRINT ADVERTISEMENT 17 embraced and advertising services evolve to best meet the opportunities and challenges of the future with regard to market outreach. Hypotheses The following hypotheses were tested in this study: 1. H01: Advertising plays a central role in business success. HA1: Advertising does not play a central role in the success of a business. 2. H02: Most businesses advertise on newsprint media. HA2: Most businesses do not advertise on newsprint media. 3. H03: Most entrepreneurs prefer to use online advertisements for their products. HA3: Most entrepreneurs do not prefer to use online advertisement for their products. 4. H04: Newsprint advertising is more effective that online advertising. HA4: Newsprint advertising is less effective than online advertising. 5. H05: Online advertising is the future of product advertisement. HA5: Online advertising is not the future of product advertisement. Summary The shift in focus by entrepreneurs and businesses to put more attention on online advertisement instead on the traditional advertisement media is broadly seen as one of the main steps toward technological revolution of the advertising industry. This would go a long way in realizing wider market outreach and increased sales for businesses and publishers who embrace the internet for their publications. This, in essence, would mean increased readership for online version of newspapers, translating into bigger profit margins. ONLINE AND NEWSPRINT ADVERTISEMENT 18 This study has been designed to explore various modes of newspapers as major advertisement media which can be used by entrepreneurs and businesses to advertise their products and services. Special focus has been given to Star Newsprint and Star Online, which are Malaysia’s leading English publications. Chapter two of this work is an extensive literature review on matters relating to online and newsprint publications as well as online and newsprint advertisement. Chapter three is an outline of data collection and treatment while chapters four and five respectively present findings and discussions. Chapter six outlines major conclusions and recommendations. ONLINE AND NEWSPRINT ADVERTISEMENT 19 CHAPTER 2: LITERATURE REVIEW Introduction Newspapers have conventionally played a very significant role in the advertisement of goods and services. This has been mainly attributed to their wide readership and circulation since they can be easily obtained, from the nearest street vendor to the biggest shopping mall in the biggest city. The readership of newspapers also cut across all ages, sexes, and social classes as they normally publish articles that would be useful to all these category of persons in one way or the other,. Newspapers have for long dominated the advertisement scene due to the low costs involved as compared to other advertisement media. Newspaper comes either as newsprint or online. Newspaper publishers have lately resorted to the two kinds of publication to meet the various demands of different readers (Mutter, 2010). The introduction of online version of newspaper has seen a significant drop in the readership of the print newspaper, and this trend is projected to continue into the future. This scenario which is almost inevitable and probably irreversible is generating big concern on the future of printed newspaper as well as newsprint advertisement. The printing of newspaper remains very important for publishers since it is responsible for the biggest volume of revenue for publishers, contributing nearly 90% of the total revenue for a newspaper company. Analyst are quick to point that any attempt to rid of print newspaper would simply through publication companies out of business since the advertising revenue will almost drop to 5%, if not zero (Mutter, 2010). However, the continued survival of print newspaper will to a great extent be determined by consumer demands, good state of an economy, and the interest of marketers to use newsprint ONLINE AND NEWSPRINT ADVERTISEMENT 20 advertising. It is predicted that with the diminishing economic prospects declining advertising revenue, there is a high possibility of a major drop in consumer demand for print newspapers. This is based on the fact that close to half of print newspaper readers are aged population who are statistically likely to pass out with time. The younger population is not found of print newspapers, and this habit will probably accompany them to old age. Unless this readership habit of the younger population changes, it is quite evident that the print newspaper readership will continue to shrink as the aged population slowly makes their exit, leaving the younger population that has already formed a habit of not reading the print newspaper (Mutter, 2010). Evaluation of Print Newspaper Print newspaper has conventionally been associated with a number of advantages, which have probably made it very popular. It is generally agreed that print newspapers have loyal readership, which makes it a powerful advertising tool as compared to internet. Print newspaper is considered very effective when a particular geographic area is being targeted; for example, when you want to notify people of about a forthcoming sporting event. For those who have information to convey, print newspaper is more flexible in terms of space as one is able to determine the size that would best suit his/her needs. Certain print newspapers enjoy many loyal fans, thus increasing their readership (Lad, 2009). On the other hand, print newspapers have certain disadvantages. Print newspaper generally has limited lifespan, meaning they are only available to the public for a single day after which they are withdrawn from sale. Print newspaper may not give a wide reach as compared with internet that has a global audience. Print newspapers have the limitation in terms of the ONLINE AND NEWSPRINT ADVERTISEMENT 21 audience who may actually read it, and certain copies may actually not be available on demand at all times (Lad, 2009). Evaluation of Online Newspaper Online newspapers tend to offer information to the reader much more quickly as compared to the print version. The online version is always available on the internet before the print version is on the streets. Online publications can normally be updated several times in a day with the latest news and happenings. Moreover, while print version is purchased, online newspapers are accessed free of charge. This makes it possible for a reader to use a wide spectrum of newspapers possible. Online versions enable users to make use of links to divide large units of information into more easily digestible portions, and to search information in the newspaper is also automated. Readers of online versions are able to archive articles on the computer, contact editors via e-mail, and use interactive games (Lad, 2009). The disadvantages attributed to online versions included the fact that they do not give detailed reports on all the subjects and tend to omit several sections found in the print version. This limits information available to the online reader. Reading from a computer does not convey the traditional experience of reading a newspaper, which is a key characteristic of print newspaper. During peak times when several users are scrambling to access news, the download times are very long. Online newspapers are characterized by so many links which are quite confusing instead of being useful, particularly the amount of research necessary and the need to constantly check the link address. One gets tired looking at the computer screen and it may take time to get used to them (Lad, 2009). ONLINE AND NEWSPRINT ADVERTISEMENT 22 Case Study: Star Online and Star Newspaper The Star is one of the leading English language newspapers in Malaysia. The statistics issued from the Audit Bureau of Circulation indicate that the print version of this newspaper has a daily circulation of nearly 950,000 copies while the Sunday Star records a readership of nearly 850,000. The publication is mainly owned by the Malaysian Chinese Association. The main competitors of this publication are The Sun and the New Straits Times, which are also published in English. The Star newspaper traces its history back in 1971, when it was first published as a regional newspaper in Georgetown. By 1976, the newspaper had gained national circulation in Malaysia, and established its headquarters at the country’s capital, Kuala Lumpur. The growth in business saw the company relocate to Petaling Jaya, where it is currently based (Star Publication, 2009). The company’s print newspapers, The Star Daily and The Sunday Star are published in five different editions. Two of the editions cover the northern eninsular states of Penang, Kedah, Perlis, Kelantan, and Perak. Two other editions cover the larger country. The Star Daily is divided into sections consisting of the Main Paper, StarBiz, StarTwo, Star Metro, and classified section. The features of the Main Paper are predominantly local and international news. The StarBiz is mainly concerned with trade and reports on market trends, financial reports, and stock market updates. On the other hand, Star Tw o mainly feature articles on entertainment, environment, science, lifestyle, and fashion among several others. Lastly, the content of Star Metro is varied and tends to focus more on the area of circulation (Star Publication, 2009). The continued demand by the publication’s readers saw the emergence of The Star Online, which is an internet version of The Star newspaper. This was in response to the persistent ONLINE AND NEWSPRINT ADVERTISEMENT 23 demand for an online version of the newspaper, and it finally made entry into the market in 2005. The company prides its strengths as a newspaper on the cornerstones of internet and media ventures. The Star Online and its many components are produced, managed, developed, and contributed to by the Star Division, The Star Online and Multimedia Newsdesk teams of The Star’s Editorial Department (Star Publication, 2009). Newsprint Advertisement Advertisement can be traced to the emergence of trading activities from very early days as evidenced by archeological artifacts drawn from different parts of the world. With the invention of the printing press in 1440 by Johannes Gutenberg who was a German Goldsmith, merchants were able to duplicate advertisements for their wares. By the late 19th and early 20th centuries, newsprint advertising had become the primary means for companies to communicate their sales and promotions to the consumers. This was mainly through media such as newspapers, magazines, fliers, posters, and billboards (Walker, 2010). Following the invention of printing press, advertisements became a common place in weekly newspapers and periodical journals. The items, which were mainly featured in such advertisements, included new machines, other print publications or reported the discoveries and inventions of the enlightenment era. The first newsprint to offer advertising space for sale was the French publication La Presse in 1836. This saw this newsprint being sold more cheaply, hence recorded increased readership and profitability. This move inspired other newspapers and magazines across the world to follow suit in this commercial strategy. In the contemporary newsprint, advertising designers are able to visualize highly creative commercials through digital image manipulation in order to make the biggest market impact (Walker, 2010). ONLINE AND NEWSPRINT ADVERTISEMENT 24 Newsprints still remain key advertisement medium for every business to such a point that it is hard to imagine doing business without advertising in a newspaper or a magazine. This is particularly important for small businesses that can hardly afford other media of advertisement. Paid-circulation newspapers have for long dominated the mass media market for advertisement as reflected in advertisement sales volumes. Newspapers are very popular with both multinational businesses and small-scale dealers. This is probably due to the fact that businesses come in three distinct forms namely local, regional, and national newspapers each targeting different audience according to its scope of circulation (Patsula Media, 2007). Advantages There are a number of advantages that print newspaper advertisements have over online advertisements. Print newspapers have very wide circulation as almost every home in the city subscribed to daily access of a printed newspaper. Where the advertisement is intended to reach audience only in a particular geographical region, print newspaper readily permits this. The printed advertisement benefits from both permanence and desired obsolescence. This means that a reader is able to refer back or even cut out a particular advert. Print newspapers have a predictable frequency of publication, either on daily or weekly basis, making it possible for advertisers to target days of wider readership for their adverts (Brassil, 2010). The immediacy that print newspapers have makes it possible for urgent advertisements to be responded fast, thereby producing urgent results. When deadlines are short, it permits quick responses to changing market conditions. Readers are already accustomed themselves to getting advertisements on print newspapers to an extent that a good number buys print newspapers just to read advertisements. At the same time, print newspaper reading has nearly become a habit for ONLINE AND NEWSPRINT ADVERTISEMENT 25 most people. Specific sector adverts can be very easily placed on the various sections of print newspaper such as sports, news, and classifieds to ensure the target is directly hit (Brassil, 2010). Print newspapers give advertisers a lot of flexibility both in size and placement. This means that production changes can be easily responded to whenever the need arises. Advertisements that are placed on print newspapers can be examined at leisure since the exposure is not limited, thus readers are able to take their time going through the message. Since placement on print newspaper can be tailored to a size that suits the budget of the advertiser, it is possible even for small businesses to place their small adverts at low costs. Print newspapers offer wide options to advertisers whether place their advertisements as copy only, copy with graphics, colored, or black and white. Finally, print newspapers features supplements which readers can easily pull out and save (Brassil, 2010). Disadvantages Advertising on print newspaper has not escaped its own set of shortcomings. Because of the large number of advertisements which are featured on the newspaper, any particular advertisement must compete for reader’s attention. This means that readers who only spend a few minutes reading the print newspaper may fail to capture the advertisement. At the same time, there is hardly a guarantee that everybody who reads the print newspaper will read the advertisements placed in it. This is because a print newspaper has several sections and not all readers read every section of the newspaper. The short lifespan, normally daily, that newspapers have forces advertisers to insert multiple advertisements even for a whole week so as to reach a good number of readers. This may be expensive particularly for small businesses (Brassil, 2010). ONLINE AND NEWSPRINT ADVERTISEMENT 26 Online Advertisement The revolution in information and communication technology has come with both opportunities and risks for the business community, particularly from the point of view of the traditionally-established media. Internet as a form of computer aided communication is equally unsure for the print media. The technical potential in advertisement that online newspaper offers surpasses that of the printed newspaper in several ways. Online newspaper is interactive multimedia for providing internal and external networks, while offering a selection of functions, possibility for regular updates, access to archives, rapid access to large number of newspapers, and being paperless, thus ensuring there is no problem of waste disposal (Neuberger, Tonnemacher, Bibl & Duck, 1998). Advantages The economic constraints that businesses face on everyday basis often leave enterprises with very little money to spare on advertising. This is more common among the small businesses who often find themselves light in the pocket. It is therefore important to opt for an advertisement medium that give optimum output and minimal costs. Online advertisement is generally seen to be complacent in this line than the traditional newsprint advertisement. When online advertisements are on a pay-per-click basis, an entrepreneur only pays when a potential customer clicks on the advert and ends up on the entrepreneur’s website. This ensures that businesses only pay for leads that end up in their website as opposed to mass messages in the print newspaper that may or may not reach the target audience. There is therefore maximum return on investment for a business using online advertisement (Rogers, 2010). ONLINE AND NEWSPRINT ADVERTISEMENT 27 Online advertisement also works very quickly given the fact that the day that one gets started is the same day that results manifest. There is basically neither waiting period nor long startup process. Once an entrepreneur is ready to get started, he/she can very easily launch a successful advertisement promotion on a number of channels. This tends to produce quick results and the campaign can also be maintained for a longer period of time unlike print newspapers which have daily lifespan. Online advertisement enables businesses to target their markets more efficiently than print newspapers. This can be achieved through the use of social networks that an entrepreneur considers relevant to the campaign. Once these social networks are identified, a business can dig very deeply into their niche, enabling them to produce the maximum results with very little investment (Rogers, 2010). Advertising online has the advantage of giving elaborate and thorough statistics that enables a business to tweak and optimize their campaigns to the maximum. This is a total deviation from newsprint advertising when one can do very little to track the success of one campaign as compared to another. Online advertising avails quite a number of information just at a mouse click. With online advertising, an entrepreneur is able to monitor the number of people who visits the business website, where they come from, what they did once they were there, and many other details. Online advertisement also allows full control and analysis since one is able to manage how many times to show up in the search engines, thus make it possible to gain huge returns for the business (Rogers, 2010). Disadvantages One key disadvantage that is associated with online advertisement relates to advertising overload as there is incredible amount of clutter on most web pages. This arises from the fact that ONLINE AND NEWSPRINT ADVERTISEMENT every advertiser tries to draw the attention of web viewers, making readers have access to too much information which they can hardly digest. Under these circumstances, the web viewers normally choose to ignore the advertisements and this will lead to low rates of return. Also, online advertisement is still a new concept for many advertisement agencies, which simply cannot tell just yet which advertising method works best (Rogers, 2010). 28 ONLINE AND NEWSPRINT ADVERTISEMENT 29 CHAPTER 3: METHODOLOGY Introduction In research undertaking, the methodology section is one of the crucial areas to be tackled in a proposal document because it forms the basis of the results of research findings. A research can be faced with big challenges due to wrong choice of method used. To avoid this, good planning of the method is essential and in order to get reliable results. The issue of reliability establishes that a research should have the ability to show consistency in the results even after a study is repeatedly done by different researchers. Reliability in research study can also be enhanced through good structure of the methodology. When the correct data collection methods are used, proportional samples are collected, and the correct method of analysis is used, a research can achieve validity. Since this thesis is inductive in nature, it prompted the application of a qualitative methodology. This means that the views of newspaper publishers and advertisement experts have been given a lot of weight. This was done by administering both physical and online questionnaires as well as conducting in-depth interviews—each lasting nearly 45 minutes. Those interviewed had to be newspaper publishers, advertisement agencies, and general newspaper readers in Malaysia who have been in the sector for the last five years. Moreover, at the time of the interview, they were actively engaged in related media and general businesses. This ensured very rich data was gathered from persons with a wealth of experience. Data Collection Methods The key purpose of data collection was to ensure that a rich set of description was obtained. To achieve this, the interviews were transcribed in real time by the interviewer. The ONLINE AND NEWSPRINT ADVERTISEMENT 30 responses were then reduced and analyzed by adopting principles of data codification and clustering (Miles & Huberman, 1994). This was supplemented by administration of questionnaires as well as comprehensive review of relevant literature. Sources The data gathered for this research is from a wide range of documentary sources relating to newspapers as advertisement medium in general as well as those specifically relating to print newspaper and online newspaper giving special emphasis to The Star Publications. These mainly included policy documents and academic and the non-academic documents. First, journals on newspaper advertisements were searched. Second, electronic databases were searched using key words like ‘newsprint advertisement’, ‘online advertisement’ ‘real The Star newspaper’ and ‘effects of online advertisement on newsprint advertisement. ’ Literature review included both conceptual and empirical works, with about 15 articles reviewed for this study. Interviews The interviews dwelt on the following areas: ? The considerations when choosing advertisement media ? The relationship between newspaper readership and circulation and advertisement impact ? The means of promoting advertisement on both print newspaper and online newspaper so as to enable business reap maximum benefits from these advertisement media ? What the future holds for print newspapers and online newspapers, with emphasis on The Star Daily and The Star Online. ONLINE AND NEWSPRINT ADVERTISEMENT 31 Questionnaires A questionnaire survey of the newspaper publication sector was conducted to understand the aspects of print newspaper and online newspaper advertisements in Malaysia. The survey was explanatory in nature as the objective was to gain insight on the effects of online advertisement on newsprint advertisement. The questionnaire was administered to nearly 100 Malaysia entrepreneurs, 100 Star Publication readers, and over 100 advertisement experts. The set sent to the entrepreneurs and advertisement experts included a cover letter, which explains the purpose and need for the study, the questionnaire document, and a prepaid reply envelope. Letters reminding the respondents of the questionnaires were later sent to those who had not responded within the three weeks duration. Case Study This thesis involves classical use of case studies to gain a deeper insight through the application of a set of ideas. A multiple case study approach helps in developing a theory which is better grounded, more accurate, and more generalized (Eisenhardt & Graebner, 2007). Case studies are introduced to test the possible effects that advertising in online newspapers could have on advertising on print newspapers, and the users’ adoption of one over the other. The use of case study is important in practical testing of theories with practitioners in real life situation. The case study organizations are selected based on the idea of theoretical sampling. This is because when it comes to building a theory, theoretical sampling tends to be preferred as compared to generalized concept found in statistical studies. This means that the cases are chosen for theoretical and not for statistical reasons (Schroeder, Linderman, Liedtke & Choo, 2008). An analysis has been developed on how the use of online advertisement is steadily gaining popularity among entrepreneurs in Malaysia, and particularly the use of The Star Online. ONLINE AND NEWSPRINT ADVERTISEMENT 32 Survey Analysis From the nearly 100 questionnaires that were mailed to entrepreneurs, 85 were returned. This represented an 85% response to the questionnaires. However, those that contained usable data were only 70, thus a satisfactory response rate can be said to have been reasonably attained. From the 100 questionnaires administered to advertisement experts, 80 were duly completed and handed over. From these about 74 contained usable data representing nearly 80% response rate which can be considered satisfactory. Ninety-five out of the 100 readers of both versions of The Star duly responded to the questionnaires and all had useful data. Chart 1 Treatment of Data In research, the data collected need to be synthesized in order to make sense with regard to what is being studied. The data from the questionnaires in this research were analyzed extensively to retrieve the information contained in them (Zikmund, 2003). The triangulation method for data analysis and interpretation was used to interpret the data collected, basing arguments on grounded theory (Dick, 2000; Knafl & Breitmayer, 1991). In addition, the information obtained from the case study were analyzed individually and thereafter, a comparison was made between the different data sources. ONLINE AND NEWSPRINT ADVERTISEMENT 33 Research Limitations The main limitation that may be pointed out in this research is the use of a single case study. However, it is also true that online advertisement is still a recent concept that has not gained much popularity among entrepreneurs. At the same time, the single case approach has weight in the sense that it allows the achievement of a comprehensive analysis. Some of the information have also not been validated through multiple case analyses so as to provide a solid and practical basis for understanding the effects of online advertisement on newsprint advertisement. Rigor, Validity, Reliability, and Ethics The four categories of quality management in research were highly considered. These include validity, reliability, ethics, and rigor (Zikmund, 2003). Reliability of a research is its ability to demonstrate consistency in results; this was achieved through the control of sample by stratifying the population to get a more representative sample. On the other hand, validity is the ability of a scale to measure what it is intended to measure but not going beyond the topic of the study. The triangulation method was used to control this aspect in the thesis. Ethics involves adherence to the norms accepted in gathering of information and this has been ensured by providing secrecy on the information collected from the entrepreneurs. Lastly, the rigor of the research was directed toward efficient sample size in a critical facet in any investigation. The main purpose that a researcher utilizes a sample is to reduce the charges and to collect important data faster (Zikmund, 2003). ONLINE AND NEWSPRINT ADVERTISEMENT Human Rights Protection The people who were interviewed were assured of their confidentiality. In addition, the information gathered ensures the people’s privacy. The entrepreneurs and their businesses will have their rights protected. Research Schedule/Timeline This research took a period of eight weeks. This is considered an ideal timeframe given the busy schedule of some of the subjects who were to be interviewed and have granted appointments at later dates. A detailed summary of the work plan for the research has been tabulated below: Table 1: Work Plan Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 Research proposal Preliminary literature review search Literature review and writing Interviews Case study collection Interview editing, coding and interpretation Report interpretation Report writing and presentation 34 ONLINE AND NEWSPRINT ADVERTISEMENT 35 CHAPTER 4: RESULTS Research findings indicate that The Star Online is not yet well explored as regularly as The Star Daily print version. According to the survey, only 41% of the users of The Star Online read it daily, as opposed to the 60% who read The Daily Star daily. Chart 2 Seventy percent read The Star Online edition several times a week, while 80% read The Star Daily several times a week. Only 5% of online users say they never read a print version. Online newspapers are read less frequently and also for shorter periods than printed newspapers. Four out of five users (81%) spend less than an hour reading The Star Online on days when they read it. Only 35% of print readers spend such a short time on it. About one-third of the readers of both The Star Online and The Star Daily were unwilling to pin themselves down to a particular time of day for reading the paper. One in four (25%) said they read The Star Daily between 5 and 9 a. m. The main time for reading The Star Online is around 6 p. m. (38%)—this is the time preferred by users of the online edition, which can be read ONLINE AND NEWSPRINT ADVERTISEMENT 36 on the evening before the printed version appears or which are updated several times in the course of the day. In The Star Online version, the classic sections of the newspaper are the most frequently used. The section Local News is also highly popular. One in three readers of the online version uses the archive frequently (32%) and only about one-third of users did not read the small ads (37%). Items with entertainment value or with feedback possibilities were not very popular. Clear differences emerged between the different kinds of versions, and this only shows that preferences are transferred from the print media to their online equivalents. Proof of this is the strong interest in Local/Regional Affairs of Internet users of local and regional newspapers or the importance attached to up-to-date information on politics and business matters. A number of questions dealt with the comparison of the information content of The Star Online compared with The Star Daily. Compared with the print version, the online newspaper was rated 45% of the respondents as providing more expanse of information, while only 30% voted in favor of the print version on this criterion; 20% rated both versions on this count. The smaller size of The Star Online compared with The Star Daily may be the reason that the print newspaper was rated by considerably more respondents as providing greater scope of information. Chart 3 ONLINE AND NEWSPRINT ADVERTISEMENT 37 Regarding finding information in the paper, the position is more positive for The Star Online: 50% of users stated that they could find their way around just as well as in The Star Daily, while 20% were able to find their way around the online version better. With regard to entertainment value, 40% of users found The Star Online just as good as print version, 35% of users rated print version better and 27% favored online version. What about reader loyalty? About 65% would have chosen The Star Daily and just fewer than 30% would have preferred The Star Online, if only one of the versions had been available. The decision in favor of the print version was based on its portability, while the advantages of the online version were seen as being its accessibility from outside the normal circulation area and the avoidance of unwanted paper. The main advantage, however, in the eyes of the respondents was that online newspapers are normally provided free of charge. It is therefore not surprising that only 35% of users would be prepared to accept a charge. Out of these, 80% stated that they would only be willing to pay for online newspapers if they were cheaper than print newspapers. Only 1% of those users willing to accept a charge could imagine paying more for online newspapers. Apparently, then, users are not willing to pay for the advantages of online newspapers. ONLINE AND NEWSPRINT ADVERTISEMENT 38 CHAPTER 5: DISCUSSION The case study of Star Publications shows that online newspaper users base their activities and/or expectations on the print newspaper and use or design their product accordingly. The online user knows what to expect of a site as the online version retains the name of the printed version, use a similar layout, and similar contents. Moreover, the positive image of a paper can be transferred to the internet. On the other hand, too strong orientation toward the printed original could mean that the possibilities offered by internet technology are not fully exploited—that copy is simply lifted from the printed version. Given such trends toward the future consumption of newspapers, it is clear that online newspapers are steadily taking over the readership of print newspapers. This has the potential of influencing the choices of advertisement media, which entrepreneurs will be making regarding print newspapers or online newspapers. The concern for newspaper publishers would be about the timeframe for which their print newspaper audience would be big enough to justify such huge investment toward publication and distribution of print newspapers. Similar concern would be to entrepreneurs and businesses which still rely heavily on print newspaper for their advertisements. Are they likely to continue using print newspapers for their advertisements or the trend would most likely shift toward online newspapers? The introduction of charges for use seems scarcely possible—at least not as long as the same or similar information is available on the Internet free of charge. The doubts of the advertising industry may evaporate as the Internet becomes increasingly widespread and commonly used (Mutter, 2010). ONLINE AND NEWSPRINT ADVERTISEMENT 39 CHAPTER 6: CONCLUSION AND RECOMMENDATIONS Major Conclusions It would be quite wrong and misleading to rule out the future of print newspapers as advertising media just because of the increased use of online advertising. The reality is that paid circulation newspapers like The Star and Sunday Star still remain very popular advertising media for both local and international businesses. Print newspapers are the most aged forms of mass media, and will thus continue to be dominant in this field, recording big volumes of advertising revenue. Multinationals and local convenience store will continue to depend on print newspapers for their advertisements. Print newspapers are found in each and every community worldwide and readers are very fond of them (Brassil, 2010). Both online and newsprint advertisement have their characteristics which show strong and weak points. This explains why despite the perceived decline in readership of print newspapers, a scan through a print newspaper will reveal a number of businesses that continue to place their advertisements on daily basis. The continued presence of advertisements on newsprint clearly indicates that it still works as a very effective advertisement medium. Although printed newspaper no longer enjoys exclusive monopoly as the predominant source of news, it is clear that they still remain a strong factor in their specific sphere of influence, and online advertisement is not about to edge it out (Brassil, 2010) Recommendations 1. Entrepreneurs should highly consider using both print and online newspapers for their advertisements since both have reasonable number of loyal readers. ONLINE AND NEWSPRINT ADVERTISEMENT 2. When placing advertisements on online newspapers, designers should avoid putting a lot of emphasis on feedbacks since readers rarely give them attention. 3. Advertisements on both versions of newspapers should be critically placed on segments that are frequented by readers so as to attract their attention with ease. 4. Links placed on online newspapers should be more easy to use so that readers can easily navigate through the paper. 5. Most advertisements that target younger persons should be preferably placed on online newspapers while those targeting older people should be placed on print versions.