Spinoza vs Descartes on God

Abstract and Referential Ontology: Descartes Versus Spinoza on the Existence of God. The concept of God is central to the development of Cartesian and Spinozan philosophy. Although both philosophers employ an ontological argument for the existence and necessity of God the specific nature of God differs greatly with each account. While Descartes suggests a Judeo-Christian concept of God, Spinoza argues a more monistic deity similar to that of the Hindu tradition. The most significant difference however, lies within the basis and structure of each argument itself.Considered from an analytical standpoint through the lens of Gotlobb Frege, Descartes' proof of God possesses both sense and reference and is therefore capable of expressing the truth. Spinoza's argument however, employs sense alone, thus rendering it neither true nor false but quite literally meaningless. A detailed analysis of Descartes' Meditations of First Philosophy in conjunction with Spinoza's Ethics will help elucidate these claims. Before an analysis of Cartesian and Spinozan theology can occur, an understanding of each theory must first take place.The Cartesian proof of God is outlined in Meditation Three of the Meditations. Within this work Descartes suggests a causal argument for the existence of a supreme being. This argument can be broken down as follows: 1. Everything has a cause 2. We have an idea of the infinite 3. An idea of an infinite could not be caused by a finite thing 4. God is infinite 5. Only an infinite God is adequate to cause this idea 6. God exists An argument such as this implies a specific understanding of Causation. According to Descartes, everything from object to idea must have a determinate cause.That is, finite existence is not self-generating but rather the product of something else. The cause in question depends upon the degree of formal and objective reality it possesses. Formal reality refers to existence within this world. For example, a tree has formal reality a s an empirical object just as an idea has formal reality as a mode of thought. Objective reality refers to existence as represented via ideas. That is, an idea of a tree possesses both formal reality as a mode of thought and objective reality as a representation of a specific tree.According to Descartes, a cause must possess â€Å"at least as much formal reality as [its effect] contains objective reality. † (Descartes 16) For example, the idea of a tree must be caused by something of more formal existence within this world than objective existence via its representation. Therefore, the idea of tree must be caused by a specific tree rather than the idea of a specific shrub. Descartes applies this reasoning to the idea of God in the argument above. Regardless of whether or not we think God actually exists we cannot deny that an idea of God is indeed within our mind.If we have an idea of God then this idea must not only have a cause but a cause with more formal reality than obje ctive reality of the idea itself. That is, that which the idea of God is referencing must be more substantial than the finite idea of the mind. The only cause more formally real than finite existence is infinite existence. Since the only conceivable infinite existence is that of God, Descartes' concludes that â€Å"†¦ In creating me, [God] placed this idea within me to be like the mark of the workman imprinted on his work. (Descartes 19) Therefore, God must necessarily exist as the infinite cause of our finite idea of Him. Once Descartes has argued the existence of God via causation he proceeds to prove God's existence via essence: 1. The concept of God is one that is infinite and perfect 2. To not exist would be an imperfection 3. Therefore God exists The general form of this argument is a testament to Descartes' understanding of an attribute. Of attributes there are only two, an Attribute and an Omni-Generic Attribute.An attribute refers to that which is necessary to the ess ence of a specific substance, as perfection is necessary to the essence of God. That is, in order for God to exist it is essential that perfection and infinitude are attributed to this existence. An omni-generic attribute, refers to that which holds of any substance but does not contribute to its essence, such as existence, duration, or number. According to Descartes, to not possess this kind of attribute is a kind of privation or lack of the attribute itself. For example, if a ball is not red it lacks the color red.Therefore, if it is essential that God is both perfect and infinite then non-existence would imply that a perfect being suffers some kind of privation. Clearly this is preposterous, for if a perfect being were to lack anything it would essentially cease to be perfect. Ergo, God exists by virtue of His perfection. Given the above arguments one can begin to understand the nature of the God Descartes is endeavoring to prove. For Descartes, God is infinite and perfect existe nce. God is â€Å"eternal, immutable, independent, supremely intelligent, supremely powerful, and [the creator of] everything else†. Descartes 20) Not only does God possess this nature but it is necessary that He does so. If God is not infinite or perfect God could not exist as these attributes are essential to God's existence. Furthermore, if God is not the ultimate creator the innate idea of God we experience would cease to be innate but adventitious (externally caused) or imaginative (caused by the mind) which is again impossible given its content. Given these qualities one can draw a connection to the omniscient, eternal, creator God of Judeo-Christian interpretation.That is, Yahweh or God is responsible for the creation of all existence, Ex nihilo, or out of nothing. The world is created as an existence separate from that of the Divine and as such exists finitely, or limited by, God's infinite existence. (Van Voorst 212) Given this parallel, one can easily understand the sense in which Descartes understands God as eternal, immutable, independent existence outside of space and time. Now that the Cartesian argument for the existence of God is understood an outline of that of Spinoza must also take place.Spinoza presents his proof for the existence of God within the The Ethics via one precise proposition. Proposition 11 states: God, or the substance consisting of infinite attributes, of which each one expresses eternal and infinite essence, necessarily exists. (Spinoza 91) This proposition is best explained through the use of three arguments. Each argument, while unique in itself, illustrates an aspect of Spinozan philosophy contrary to that of Descartes. The first argument supposes that God exists as it is necessary given the essence of God itself.Before one can understand this argument one must first understand what is meant by essence. For Spinoza essence is that which is necessary for something to exist. That is, it is that without which a substan ce ceases to be. Spinoza employs this idea of essence in a negative proof for the existence of God: 1. Consider the idea that God does not exist 2. This consideration would mean that God’s essence does not possess existence 3. This is absurd since Substance (God/Nature) necessarily exists 4. Therefore, God necessarily existsWith this argument, Spinoza is suggesting that existence is an attribute of God's essence. By attribute, Spinoza is referring to â€Å"what the intellect perceives of a substance, as constituting its essence†. (Spinoza 85) This differs slightly from Cartesian philosophy in that for Descartes existence is an omni-generic attribute and therefore does not contribute to the essence of a substance. Regardless, what Spinoza is actually saying is that we perceive existence to be essential to God. If existence is essential to God, then it is in God's nature, as substance, to exist. Therefore, God necessarily exists.Thus, this proof not only argues the exist ence of God but the nature of the Spinozan substance as well, in that a substance is that of which existence is its essence. That is, â€Å"it pertains to the nature of a substance to exist†. (Spinoza 88) Spinoza's proof of the existence of God can be further represented via an argument of causation: 1. There is a cause for existence and non-existence 2. The cause of existence or non-existence is internal or external of the thing 3. If nothing can hinder the existence of a thing internally or externally then it exists necessarily 4.There is no cause internally or externally hindering God’s existence 5. Therefore, God exists Like Descartes Spinoza believes anything that exists must have a cause, however Spinoza takes it one step further to suggest that anything that does not exist so too must have a cause. The cause for this existence, or lack thereof, must originate from within or without a substance. If there is nothing within or without the substance that limits its existence then it must necessarily exist. Here, Spinoza is discussing finite and infinite existence. If something is finite then it is limited in existence by something less finite.That is, there is something that limits the finite to its finite existence. Thus all finite things are hindered by the existence of something else, eg, the infinite. The infinite exists in essence as something that admits of no limit. There cannot be more or less of an infinite substance as it is limitless, complete, and whole and thus internally and externally unhindered. Therefore in the above proof, Spinoza is not only saying that God exists because there is nothing within or without of God to hinder its existence, but moreover that God and substance are infinite.If this is the case, then finite existence cannot be possible as this would imply its hindrance in some fashion, deeming it non-existent. If there is no finite existence, then â€Å"every substance is necessarily infinite†. (Spinoza 88) Thus, there can be but one substance: the infinite, unhindered, God. Spinoza's proof of the existence of God as well as the nature of the God he is describing can be further explained through the representation of this final argument: 1. Ability to exist contains power 2. Inability to exist demonstrates a lack of power 3.If an infinite being does not exist a finite being would have more power than an infinite being 4. This is impossible 5. An infinite being exists Similar to Descartes, Spinozan theology can be described via the idea of privation and used to establish a specific understanding of God. For Spinoza, the ability to exist contains some kind of power. This power refers to the ability of a substance to exist independently of anything else as a self-generating substance. A substance possesses the power to essentially spring into being unaided by anything else. Hence, existence implies power.Therefore, to not exist would imply a lack of this power. If we are to go back to th e previous proof we can deduce that God is an infinite substance, meaning that it is unhindered or unlimited by anything else. Given the present argument, if God were to not exist then it would be somehow limited by that which does exist. That is, God the infinite substance would be limited in power by finite substance. According to Spinoza, this concept is absurd as it is impossible by the very essence of an infinite substance to be hindered by anything of the finite, including power.Therefore, God must exist. With the above explanation one can not only deduce that God must necessarily exist but that God must necessarily exist as one, complete, infinite, substance. It can be said then that Spinoza employs a kind of monism to his understanding of God similar to that of Eastern theology. That is, the existence of only one infinite substance, or God, draws a strong parallel to the Brahman or â€Å"divine breath† of Hinduism through which existence was created Ex deo or out of t he substance that is God.Therefore, there is no actual separation between God and human existence rather a perceived separation caused by human ignorance of the divine nature. (Van Voorst, 23) Therefore, although Spinoza will agree with Descartes that God is infinite and all-powerful, both philosophers differ radically in their interpretation of this infinite, all-powerful substance. Significant to both Cartesian and Spinozan philosophy is the fact that God must necessarily exist in order to support the philosophy in question. That is, if God did not place the idea of God within the mind then any analysis of this idea is useless.Similarly, without the existence of an infinite substance, the Spinozan theory of substance is irrelevant. Therefore, God must exist if either theory is to succeed. Despite this fact as well as the above differences, the most significant contrast within Spinozan and Cartesian theology lies within the basis and structure of each argument. From an analytical p erspective, specifically from that of Frege, Descartes argument differs radically from that of Spinoza in that the former possesses the most truth value. Truth value, is determined via the criteria of sense and reference.With regards to a particular proposition, such as â€Å"Aristotle exists† the sense is that which the subject â€Å"expresses†. (Frege 210) That is, sense is the way in which the subject is considered or described. For example, the subject â€Å"Aristotle† could express many senses ranging from â€Å"Citizen of Athens† to â€Å"Philosopher†. The reference is that which is â€Å"designated† by its subject or that which the subject â€Å"stands for†. â€Å"Aristotle† stands for or designates Aristotle himself. (Frege 210) Thus, the reference is that knowable and concrete object from which the subject draws its credit.For Frege, a proposition must contain both sense and reference in order to possess any truth valu e. That is, in order to say anything whether true or false about the world we must first know to what within the world the subject is referring and how exactly it is referring to it. Otherwise we would have no true way of knowing what the proposition means. Given the above description, Descartes' understanding of God describes the Judeo-Christian sense of the term in that it is infinite, immutable, eternal, and responsible for the creation of all existence.According to Spinoza, God is best described in a monist sense as one infinite substance similar to the Brahman of Hindu thought. However, in order to determine the reference of each subject a precise pedigree of Cartesian and Spinozan thought is necessary. The reference of the Cartesian God can be traced back to Descartes' theory of existence in the Cogito. According to Descartes, all that we believe to be true is ultimately subject to doubt as it is provided via the senses which are commonly deceived. This is easily illustrated g iven the perceptions of a single piece of wax.If our senses illustrate a ball of wax as both in a solid and liquid state how is it that we can know anything concrete about the wax? In order to determine what it is that we actually do know we must purge ourselves of all former beliefs and methodically build our collection of knowledge based on that which is beyond a shadow of a doubt. Once purged of these beliefs Descartes determines that regardless of the valid existence of anything else, he cannot deny that he is indeed doubting. If he is doubting he is clearly and distinctly thinking.Therefore, Descartes concludes that there must be some thing that exists as a thinking thing. Cogito ergo sum, I think therefore I am. By the same token, body and mind must exist in that regardless of the validity of the empirical world one cannot doubt that something exists to sense it. Thus, with regard to reference, existence refers to the experience of thinking just as the concept of the body refe rs to the experience of sensation. Next Descartes categorizes the thoughts within his mind as ideas, volitions, and judgments.Of his ideas Descartes distinguishes between those that are innate, imaginative, or adventive. Given that an adventive idea is caused by a bodily sensation and an imaginative idea is caused by the mind itself, Descartes determines that an innate idea, such as God, must be caused by God itself by virtue of the theory of causation. If one is to carefully trace each discovery back to its point of reference one would conclude that the existence of God draws its reference from the existence of innate ideas which in turn draw their reference from the experience of the phenomenon of thought.Thus the proposition that God exists possesses the knowable experience of thinking as its reference. Since Descartes' proposed existence of God contains both sense and reference it is indeed capable of saying something meaningful about the world because it both refers to somethin g knowable and expresses something about it. If one were to analyze Spinoza's proposition of God's existence the origin of reference is not so clear. Proposition 11 states that God, or the substance consisting of infinite attributes, of which each one expresses eternal and infinite essence, necessarily exists. Spinoza 91) This proposition is the conclusion of the ten propositions before it which are in turn based on seven axioms and eight definitions. Of each of these concepts, proposition 11 refers most ardently to Spinoza's definition of Substance. That is, substance is â€Å"what is in itself and conceived through itself†¦ †. (Spinoza 85) It is self-generating and its existence depends upon nothing else. The definition of essence, as that which is necessary for the existence of a substance, then refers to the above substance.Similarly, the definition of an attribute, as that which the intellect perceives as the essence of a substance, directly refers to the definition of essence which is itself based on the definition of substance. Once these three definitions are proposed Spinoza uses the theory of causation and privation outlined above to help reach the conclusion of God's existence in proposition 11. While logically this lineage is sound, upon closer inspection one must notice that the original idea of substance which forms the foundation for the entire Spinozan theology has no reference!That is, the concept of substance as independent and self-generating does not refer to anything within the world that contains these qualities. While Descartes' theory rests on the experience of thought as its original reference, Spinoza has no concrete, knowable reference to hinge his theory upon. One does not experience self-generating, independent substance in a way in which the construction of knowledge is possible because a self-generating, independent substance is unknowable. The only substance the human mind can make reference to is that which is finit e and graspable as this is what we are in contact with.Therefore, Spinoza's definition of substance may express substance in the sense that it is self-generating and independent but this substance does not refer to anything concrete and knowable. To make this proposition is much like claiming â€Å"The present King of France is bald†. Although, the statement expresses the present King of France in the sense that he is bald, there is no King of France to be bald. Therefore, the present King of France. like the Spinozan substance, is but a concept with no real reference with which to draw its meaning.Since the definition of substance holds no reference, the subsequent definitions of essence and attribute refer only to a concept. If this is the case, the culmination of these definitions in proposition 11 is also based on a concept. Therefore, the entire Spinozan proof of God is but an idea abstracted from a series of underlying empty concepts. Thus, although the Spinozan proposi tion for the existence of God is logically sound it is incapable of saying anything, true or false, about the world. Therefore, the entire proposition is meaningless.Despite its' empty nature, Frege does not mean to say that propositions lacking reference should be dismissed. Rather, propositions such as these comprise the world of art. Take for example a poem. To say that â€Å"Odysseus landed on the shores of Ithaca† is not to say anything true or false regarding the world because although the subject â€Å"Odysseus† describes â€Å"the fictional character of myth† this subject holds no real reference as this character has never existed. This is not to say that the proposition is any less euphonic or pleasing to the intellect. A proposition doesn't have to say anything of value to be beautiful and artistic.Therefore, Spinoza's proposition for the existence of God, albeit meaningless, is still an outstanding artistic accomplishment. In conclusion, both Descarte s and Spinoza argue for the necessary existence of God. Although each argument is similar in execution, the Cartesian idea of God is more aligned with the Creator of the Judeo-Christian tradition whereas the Spinozan concept of God is similar to the monistic Brahman of Hinduism. Although this difference is indeed important the most significant difference lies within the logical structure and foundation of each argument.Given Frege's criteria of sense and reference, the Cartesian proposition for God's existence possesses both sense and reference and is therefore capable of saying something meaningful about the world. On the contrary, Spinoza's proposition for the existence of God possesses sense but no reference and is therefore built upon an empty concept. Despite its inability to say anything meaningful, true or false, about the world the Spinozan proposition for the existence of God is nonetheless an extraordinary artistic achievement. Works Cited Descartes, Rene. Meditations of F irst Philosophy. Blackmask Online, 2002. Blackmask. Web. 1 Oct. 2012. lt;http://www. blackmask. com>. Frege, Gotlobb. â€Å"Sense and Reference. â€Å"The Philosophical Review 57. 3 (1948): 209-230. JSTOR. Web. 1 Oct. 2012. . Spinoza, Benedict D. â€Å"The Ethics. † A Spinoza Reader: The Ethics and Other Works. Ed. Edwin Curley. Princeton, New Jersey: Princeton University Press, 1994. 85-265. Print. Van Voorst, Robert E. â€Å"Hinduism† Anthology of World Scriptures. 7 ed. Boston, Massachusetts: Wadsworth, Cengage Learning, 2011. 21-27. Print. Van Voorst, Robert E. â€Å"Judaism† Anthology of World Scriptures. 7 ed. Boston, Massachusetts: Wadsworth, Cengage Learning, 2011. 209-217. Print.

High School is Not for everyone Essay

Have you ever heard the statement, â€Å"College is not for everyone†? Well what if we took it a little further and said that high school is not for everyone? Is this a reasonable statement to make and is it sensible enough to even be considered? Carol Jago believes so; she says that entrance to high school ought not be automatic, and that only those demonstrating â€Å"minimum competency in math, reading and writing† be allowed to enroll in high school (191). Should this proposal be ignored or admired? Carol Jago says that at the end of middle school all students should take an exam, an exam which will ultimately determine their future. The exam will have the basics of everything that the students have learned thus far on it and depending on what the score is, the student will be subject to high school if they pass, apprenticeships if they fail, or classes that will allow them to retake the test if they fail. In my opinion, this is a magnificent idea. I do not believe that steady schooling is for everyone. Why not start off early with our choice of career rather than waste more time in school? If you know for sure that you would like to be a plumber, carpenter or even a warehouse worker what is the point in continuing your education further than the simple basics? In most high schools, about half of the students do not pay attention while in the classroom. This ultimately causes a disturbance, disabling the rest of the students who actually care about their work to not learn and the teachers to get off track or behind with teaching the desired material. With Jago’s plan we can weed out these sorts of problems and supply a richer education in the classrooms. On a more personal level, I myself changed high schools because of this very problem. When I was in the classroom I felt as though the teachers were taking more time disciplining students than teaching the actual coursework. I then realized that this was not the place for me because I wanted a richer education; therefore I changed schools. I went to a high school that hand selected the students based on academic success thus far and talent. By making that change I feel as though I learned more things and had more doors opened for me then I could have ever imagined at the other high school. His plan is a win-win situation but of course there are areas that one may question. For example, at such an early age children don’t know exactly what they want to do with life yet. Therefore making such a life changing decision is very critical and many people won’t agree with it. At the end of middle school children are about 14 years old. While they are in the teen stage of their life, they still are not capable of saying that they don’t want to continue with high school and that they will work with their hands for the rest of their life. After they make this decision there is no turning back. This ultimately adds stress to the youth earlier to figure out what they would like to do with their life. But, as stated before, why not weed out the kids who just don’t want to be there anyway? In order to come to a common ground. It could be changed so that there is not an entrance exam to high school as an whole, but there be an entrance exam to all classes that the students will take. For example if a student is entered for biology they will have to take the science test to see if they are at a point that’s eligible for them to take the class. This then creates a middle area for the two ideas. People who are behind in class will be put in a classroom together and the ones who care and know their work will be together. This method is adopted by many private schools. Today’s students arrive with a wide range of backgrounds. Correct placement ensures higher success rates for students. Students are more satisfied with the education they are receiving, and instructors can focus on teaching the content of the course instead of dealing with ill-prepared students. Institutions can plan appropriate levels of courses and be confident that they are meeting students’ needs. (Maple T. A) But what is the opposite of adapting the plan? Simply allowing things to stay the way that they are? Our youth will continue to receive poor education and waste their time. This is becoming more and more of a problem every day and if we don’t take action it will only hurt our future because children are the future. There needs to be a change. Works Cited â€Å"High School Placement Test – HSPT. † Scholastic Testing Service, Inc. – HSPT. Scholastic Testing Services, 2009. Web. 25 Apr. 2013. Ender, Markal. â€Å"High School Entrance Exams – Demystifying the Acronyms SSAT, ISEE and HSPT. † SFTutors RSS. SFTutors, 2004. Web. 25 Apr. 2013. â€Å"Why Use the MAA Placement Tests? † Maplesoft. Maple T. A, n. d. Web. 25 Apr. 2013.

How business works Essay

Introduction In this assignment I will be producing a case study on large/medium sided businesses, showing of how business works. My chosen company is McDonalds. The following will be including in my case study: * A description of what the business does, its aims and objectives. * A description of the purposes and activities of human resources and any other three functional areas. * A description of how effectively different areas of the business communicate. * A description of how the structure of the business is different from another organisation’s structure. * A record of my source’s information. McDonalds Restaurant OverView McDonalds is a large fast food chain of restaurants operating world wide, started in America and has outlets in other places such as, India, Cyprus. In many countries McDonald s sells variations of its food to cater for local tastes. They are also known for being multicultural because of the different cultural foods in their restaurants. Because of their huge volume of sales McDonalds has strong purchasing power with its suppliers and is therefore able to sell food very competitively. By the end of 2001 their was 1,184 restaurants in the UK alone. They had a target to get over 80 new restaurants opened by 2002, and that was achieved. By opening over 80 new restaurants they employed 4,800 new employees. ACTIVITY, AIMS & OBJECTIVES (P1, D2) Main Activity The main activity of McDonalds is selling fast food. They aim to provide a customer service, there are 1.5 million employees working for McDonald restaurants in the 119 countries, which all have the same daily activities which involves the staff in greeting, serving and helping customers with any enquiries or problems. They are the largest food service company in the world, so it’s important that all employees work together to succeed their aim. Main Aim McDonalds main aim is to provide customers with a fast food service in order to obtain a profit for its shareholders. McDonalds are committed to conducting their business with the environment in mind. McDonalds mission statement is â€Å"To be the world’s best quick service restaurant†. This is being achieved through five strategies such as; * Development: Lead the quick service restaurant market by a programme of site development profitable restaurant openings. * Our People: Achieve a competitive advantage through people who are high calibre, effective, well motivated and feel part of the McDonalds team in delivering the company’s goals. * Restaurant Excellence: Focus on consistent delivery of quality, service and cleanliness through excellence in our restaurants. * Operating Structure: Optimise restaurant performance through the selection of the most appropriate operating, management and ownership structures. * The Brand: Continue to build the relationship between McDonald’s and our customers in order to be a genuine part of the fabric of British society. Objectives McDonalds objective is to be the best’s quick service restaurant and believes and believes that this involves avoiding damage to the environment at a local and global level. The company aims to ensure that its operations today do not have an effect on the lives of future consumers. McDonald’s is involved in an ongoing programme with the aim to improve the environment, they do this by reusable packaging and recycling. Functional Areas within McDonalds (P2, M1, D2) HUMAN RESOURCES The Human Resources department concentrates on employees who work for the McDonald restaurants. Human Resources department include managing staff and their welfare, so the safety of their staff is taking very seriously, this all comes under Health and Safety. Staff have to be careful not to use computers/tills for long periods of time because they can suffer from eyestrain, tiredness or stress. McDonalds is improving communication systems by installing panic buttons for the safety against violent customers. McDonald’s employees have to work together to ensure a hazard free zone, by adhering to the health and safety regulations. McDonalds puts new employees on to a training system, to make sure if an accident happens which involves either a member of staff or a customer getting hurt, then the employee will be able to handle the situation effectively. McDonalds restaurants work to high standards, which meets and mostly exceeds the rules and regulations. The company always aims for the highest standards given in guidelines because of health and safety regulations and to expand the business. If McDonalds didn’t meet the requirements than they would be closed down by the health and safety executives. The Human Resources department contributes to McDonald’s activity by making sure: * They employ the right staff * Making sure the store is a hazard free zone These things contribute to the activity of McDonalds because without them they wouldn’t be able to achieve their aim, so it’s important that all the different department’s work together to succeed it. Recruitment, Training and Development When recruiting staff McDonalds look for people who have a positive attitude towards customers, themselves and other employees, and who are capable of delivering the highest standards of quality, service and cleanliness to our customers. Then potential employees are trained, promoted and treated on the basis of their relevant skills, talents and performance and without reference to race, colour, nationality, ethnic origin, sexual orientation, gender, marital status, age and disability. McDonalds management development curriculum takes new recruits form trainee manager to restaurant manger. They have on-the-job training and open learning development modules, backed up with courses and seminars at the company’s national and regional training centres. Hourly paid staff receive continuous on-the-job training by computer based training and other training materials. When employees complete their initial training staff members are awarded a basic certificate in food hygiene. Employees Below are the figures of the staff’s gender and age status. By the end of 2000 McDonald’s employed 49,726 members of staff: * 46, 207 restaurant crew * 2, 974 restaurant management crew * 545 office staff Health and Safety McDonalds always aims for the highest standards (and mostly exceeds), so they can achieve its aim and be the best quick service restaurant. If McDonalds didn’t meet the requirements of the health and safety act 1974 than they would be closed down by the health and safety executives. The most common hazards which occur in a work place are: 1. Leaving the work place untidy and dirty 2. Leaving floors wet and stairs 3. Leaving wires to trial across passageways 4. Frayed carpet or loose tiles 5. Equipment just left all over work surfaces 6. Too many plugs inserted into only one electric socket The human resources department has to make sure that all health and safety regulations are met. If they are not met then it can be closed down, also if the restaurant is unclean then it could loose customers and wouldn’t keep up their activity to be the best selling fast food restaurant. Customers wouldn’t want to go to a dirty restaurant, where there are a lot of hazards going on such as; wet shop floor, bins over filled, dirty tables and a unclean kitchen area. If any of these hazards occurred in any McDonalds restaurants customers could become ill or hurt, which would result in McDonalds going to court or having to closed the McDonalds restaurant down. Management training includes coping with emergency situations that could arise in a restaurant. This is because it decreases the risk of people being injured or the buildings being damaged in the McDonald restaurants. When an accident has occurred the manager then has to write out what happened and then investigate on the matter. Training is the main priority to ensure the consistency of the restaurant operation, and the highest levels of customer service and care. Every McDonalds franchisee must successfully complete a training programme which takes on average nine months to complete. Trade Union The workers are represented by union of shop, distributed and allied worker. Job Roles In Human Resources Job Roles In the Human Resources function Carmel Flatley, Human Resources Director I am the human resources director of McDonalds and I have the overall decision of anything that happens in this department. I also have to make sure that the human resources department don’t go over their budget. Paul Smith, Human Resources Manager I look after the whole HR department and staff, involved with industrial relations and trade unions negotiations, implementing the organisations HR policies. Gemma Wilson, Recruitment officer I deal with recruiting people, that’s sending out application forms, making interviews for potential employees. Potential employees don’t need to be experience in any way, because McDonalds is committed to training their staff and improving the skills of staff. Matthew Lawrence, Health and Safety Officer I deal with all health and safety matters, accident monitoring and staff welfare. That involves making sure that the shop floor is a hazard free zone for customers and clean and tidy, making sure the kitchen is clean enough to work in. I am well trained in first aid so that if any accidents happen, I will be their to help. I also have to deal with complaints and try to solve them. FINANCE The finance is one of the most important functions as they record all the money going in and out of the business, they give a budget for each other department to spend to make sure they keep their level of income and expenditure. They would regularly check the amount of money each department has spend and made to see if they are on target or not. If a department has gone over their budget then the finance dept would check to see if there is enough money to lend those more. So the purpose of the financial function therefore is to: * Keep all the financial records required by the organisation, detailing all the receipts and payments that have been made * Prepare final accounts from these records as required by law * Monitor the income and expenditure of different departments against their budgets * Provide continuous, up to date financial information for managers about business performance * Pay salaries and wages to the staff * Pay amounts owing to suppliers * Control the levels of debts owed to the company * Obtain additional finance when required, from the most appropriate source * Advise senior managers on the financial implications of major decisions These contribute to the McDonald’s activity by being apart of providing a good customer service by, paying the employees their salaries/wages, if they weren’t paid they wouldn’t be no staff or it could result in the staff withdrawing their labour. Production will cease and the employer will lose revenue. By McDonalds receiving more capital they can improve the quality of the store or products so customers would be more pleased of the in store environment or pleased of what they have purchase. It would result in consumers returning to the store because of the good service and also bringing more money to the business which will also achieve their aim which is to be the best selling fast food restaurant. Job Roles in Finance Department JOB ROLES George Mackay, Finance Director I am the finance director and I am in charge of the whole finance department. It involves information services, new product development, quality assurance and supply chain. I have to make sure a product which is purchased has the right quality that is expected from consumers, and then have to put a price to it. The most important part of the finance department is the cash flow which is the movement of cash going in and out a business. As a finance director I have to gives advice to senior managers on the overall decision on financial matters. And also as a director I have the last say with what happens within the finance department. Christopher Bateman, Financial Manager I looks after the finance function and the staff. Advising on financial resources. As a manager I have to make sure that all work as been done well. E.g. they have to monitor the income and expenditure of all departments to make sure they haven’t gone over their budget. So after the staff have checked their cash flow I then have to then go threw it to make sure nothing has been missed out. Derek, Daniels, Ledger Clerk I have to assist the chief accountant in the recording of all financial transactions. So where the money goes or comes in I have to make sure the chief accountant has recorded it all effectively. If any mistakes have been made I then have to correct the errors. Nita Negi, Credit Control Clerk As a credit control clerk, I have to assist the credit controller in checking the credit status of new customers and existing accounts, and also Reminding customers or overdue payment. PRODUCTION Production is all about the process of making something. Product life style shows the stages of a product or a range of products. If it isn’t successful it goes to decline stage. The activities of the production department are listed below: * Obtaining the resources required to produce goods or provide a service * Organising the resources to produce the goods or provide the service in the most appropriate way For the activities to be achieve they must consider the aim of the business which is to be the best selling fast food restaurant, so they have to find the best quality of food that suits them and then order it but first having to keep on target and not going over their budget by ordering expensive items or ordering to much that it all cant be produced/sold. Another thing they must consider is if the resources can be organised to achieve the aims, doing this they have to think about selling it cheaper then their competitors or having an offer like buy on get on free. They do this so it sells more because people wouldn’t to spend more they would go to the most cheapest place or giving the product an offer can be appealing to the customers. The production department contributes to McDonald’s activity by finding the right products at the right prices. When good quality products are sold at low prices it pleases customers and make them want to return, it also brings in more people as when a customer is pleased with the type of service they have receive the consumer then tells several other people, which makes then want to try it out. Job roles in Production Job Roles in Production Steven Cornway, Production Manager Responsible for the entire production function and it’s operations. What ever goes on has to be checked and authorised by me. Kim Karenga, Production Planners Plan all production to maximise machine use and staffing, taking account of customer requirements. Chris Walker, Production Controllers To check all production is going to schedule. Ted Osborne, Designers I am responsible for the actual design of the finished product. So if I don’t like the way a product has been designed I can make remendments. MARKETING The object of marketing is to make sure that the right product is made and potential customers are persuaded to buy it. Market Research can be carried out through either primary or secondary research. Primary research means asking someone on their views or opinions. A way of asking potential customers of their views or opinions is to make sure a survey, having questions about a certain item. After the survey has been completed they will then need to send out the surveys to potential customers, by either online, over the phone, by post or giving out surveys (in stores. Postal surveys don’t have much of a response as the others do as it takes more time e.g. sending it back, so when postal surveys are concerned their will usually have to be some kind of incentive offered for completing the survey, so customers would be tempted to fill it out. Secondary research is known as â€Å"desk research†. It consists to looking up facts or figures in books, magazines, computer databases, company files. So secondary research is looking at information that already exists instead of creating your own. McDonalds keeps a large amount of information on their databases about their customers and their buying patterns, also companies buy information from government statistics. Product – The amount of products the customer wants, the quality wanted, the features and the styling that are preferred, whether packaging is important, whether a guarantee or after sales service is required. Strategies – Is a long term plan for future success or development. Place – McDonalds are located on high streets or town centres. Marketing contributes to the McDonalds activity by market research (finding out what potential customers wants/needs), and improving existing products. Both of these improve the customer service, marketing contribute a lot to their activity to make McDonalds achieve their activity. All the functions work together to achieve it. The job roles of Marketing Job Roles in Marketing Matthew Howe, Marketing Director I am responsible for the overall marketing function and its aims and objectives. So if any idea’s have been thought of they have to been checked with me before anyone goes ahead and makes a change. Ethan Farah, Sales Manager As a sales manager I am responsible for overseas agents and the achievement of sales targets overseas. David Frank, Market Researchers Market researchers have to find out consumer opinions on current and proposed goods and services, if this is not done than they could bring out a product which isn’t doesn’t sell a lot and a loose the money they put in to produce the products. Advertising Manager An advertising manager is in charge of advertising and liaising with agency staff over publicity campaigns. Advertising is one of the most important things in marketing as without advertising a product will not be known so their would sell as well as products being advertised. EQUAL OPPORTUNTIES (P3, M2, D2) In a work placement an employee has rights and responsibilities. Below are the rights and responsibilities of an employee. Rights as an employee Employee’s rights How to carry it out Having safe working conditions Making sure that the area your working is a hazard free zone, if not consult your manager or the human resources area. It is also your job to take care with anything you do to prevent any hazards happening. Getting paid the fair salary/wage Depending on your age, experience and contract, employee’s get paid differently. You have to make sure that your getting a fair paid if not consult your manager. You should first read your contract because you might have signed for getting paid the amount you’re getting. Provided information concerning your rights Before starting your job you will be provided with information about the rights an employee has. (mainly in your contract) If you’re not provided with this information you are able to ask for it. Not to be discriminated on grounds of race, sex or disability If you feel that your getting treated unfairly according to your race, sex or disability your able to take up action like consulting your trade union. To be consulted over matters which will significantly affect your terms and conditions of employment If you employer decides to change something, which affects the terms and conditions on you employment and does not consult you first, you can take action upon this. Responsibilities for an employee Employee’s responsibilities How to carry it out To be ‘ready and willing to work It’s always good to be full with enthusiasm in your work because it looks good for the company and make you happier in your work To give a personal service Your contract will contain you main job roles, but it’s always good to provide your own service like putting your ideas into your work, smiling and just any other little thing. To treat others how you would like to be treated If you’re rude and dishonest than fellow staff would treat you the same. It’s important to work as a team and communicating well with other people, this can only be done if you treat people well. To work towards the objectives of the business Working towards the objectives of a business could look good on you and on the business, if the employer see’ s you are working hard than it could result in the employee being promoted. To work in good faith Working in good faith consists of being honest, if you’re honest it again can see that you’re trustworthy and could get promoted. But yet if your seen lying than you could loose your job. COMUNNICATION (P4, M3, D1, D2) Most organisations have different ways of communicating, communicating is one of the most important things in a business, because without communicating you cannot run a business effectively. They are all types of communicating, below is a list of ways of communicating within a business. * Meetings * Group discussions * Tele phone * Memo’s * Emails * Draft letters * Reports * Faxes There are two main methods of communication which are oral and written communication. Oral communication could be either face to face or the over the phone. If you can’t get threw to the person you are calling then you can leave a message which is still oral communication. Written communication could be sent by mail or transmitted electronically. This can include letters which is the most common one, text messages on mobile phones or notices on notice boards. Below are the advantages and disadvantages about oral and written communication. Oral Written Advantages 1. It’s a fast way of communicating because you don’t have to write things down. 2. It’s cheap, as if you phone someone you would have to pay for the phone call. 3. Immediate feedback, you don’t have to wait age’s for someone to reply back to you as you would in a letter. 1. Writing a message can be retained for future reference. 2. Writing a message can also be copied for other people’s uses. 3. Creates a distance between sender and recipient useful for difficult communication, e.g. bad news. Disadvantages 1. Clear Speech, you must speak very clearly so that other people can understand you, but yet when you write a letter people can just read it in their own pace. 2. Long or complex messages can be forgotten. 3. You can be easily distracted while someone talks to you, and then you could forget the whole message they just told you. 1. When writing a letter it can take time to write, while if your talking to someone its faster.] 2. Keyed in documents need to be skilled and produced quickly and accurately. 3. Delivery can take time, or could be delayed. McDonalds functional areas communicate with each other by a system called Intranet which was launched in 2000. The McDonalds intranet provides a fast and up to the minute source of information for the McDonalds restaurant management and office staff. McDonalds external communication is don’t by a system called McNews which was launched in 2000. McNews is a award wining magazine which was published monthly for all restaurant staff, then in 2002 McNews was re – launched as MDUK and is now a lively focused magazine. MDUK has activities and events from restaurants around the country. MDUK is a showcase for best practice, recognising individual’s outstanding practices and achievements, as well as highlighting internal and external awards. Apart from the Intranet and MDUK, McDonalds also has other ways of communicating within the business, they are listed below. 1. An email system operates in all offices and company – owned restaurants 2. Regular staff communication sessions are held in the offices 3. Employee satisfaction surveys for both office and restaurant staff are held annually. 4. Meetings are held monthly. 5. Memo’s – send daily An email system is to contact anyone within the business or outside the business, the email system is a fast and easier way to contact people. The email system is used by most companies and general people all over the world. Staff communication sessions are held to improve of employee’s communication skills. This is important because communicating with customers is one of the main things to do. Employee satisfaction surveys are handed out every year, so employees can write how they feel working in the McDonalds restaurants. This is a good thing to do because it’s important to keep the staff happy as it motivates the staff to work harder. Meetings are held every month to discuss the McDonalds performance. They also talk about how much they are making and see what can be improved with the money. McDonalds talks about new idea’s and try to change or promote things that is not doing so well. This is a good way of communicating as you get to talk face to face to see the expressions on each other faces and it’s faster as you don’t have to way for a reply if you do if you was writing an email. Memo’s are used daily in all of the departments. Sales manager might send a memo to human resources manager and ask if he has found a sales person. Memo’s are used daily because they are important little messages, and it’s also a fast way of sending.

Professional standards in mental health care Essay

Professional standards in mental health care - Essay Example The ethical dilemma that this paper will address is that of a mental health nurse who receives a phone call from a doctor that asks her to breach patient confidentiality. Firstly, the ethical and legal considerations of the dilemma will be presented. Secondly, the managerial qualities that the nurse in question should display will be provided. Finally, the implications of a chosen solution for the nurse's personal professional practice shall be highlighted. The practice of mental health nursing requires scientific and technical knowledge, and also the ability to make value based judgments (General Medical Council, 2001; Thompson, Melia & Boyd, 2000). These judgments need to be critically analysed and evaluated in the same way that scientific information is assessed. The term ethics is a generic word used to represent a variety of methods for investigating and understanding moral life. As such, medical ethics requires that a mental health nurse go beyond the individual, and draw on presumed universal laws (General Medical Council, 2001). The United Kingdom Mental Health Act states that medical ethics must ensure that a patient is provided with reception, care and treatment, and adequate management of their property and related matters. It is postulated here that a patient's right to confidentiality is a matter that must be properly managed stipulated by the Act (General Medical Council, 2001).Medical ethics can be summarized into four g eneral principles: 1) patient autonomy; 2) beneficence for the patient; 3) avoidance of harm to the patient (non-maleficence); and 4) justice (General Medical Council, 2001). The principles are intended to guide the value judgments of the nurse, not to substitute judgment. As such, each principle is followed until it conflicts with one or more of the other principles, although no principle is ranked higher than any other principle. However, in recent times, justice has become a significant issue. Justice involves not only the fair distribution of benefits from medicine, but also legal justice and doing what is required of the law. This includes human rights which are grounded in the ethics of justice.The current dilemma involves issues of patient confidentiality. It is argued here that the right of confidentiality would be included in the principle of patient justice, and their rights to confidentiality in regards to their medical treatments. A nurse's respect for confidentiality is vital to cultivate and maintain a sense of trust between themselves and their patients (British Medical Association [BMA], 1999). As such, a therapeutic relationship is unable to be conductive to the healing processes if the patient cannot be confident that their personal information will not remain confidential and private. The breach of confidentiality should only occur in the most exceptional of situations, and the medical professional who breaks confidentiality should be able to adequately justify their reason for doing so (BMA, 1999). The personal health information of a patient is collected by medical staff to provide the future care and treatment to the patient, in general, this information is not to be used for any other purpose if the patient has not been made aware of the other uses, and given permission fro their information

COFFEE TRENDS Essay Example | Topics and Well Written Essays - 1000 words

COFFEE TRENDS - Essay Example Due to the high caffeine content and other chemical substances in coffee, critics argue that coffee is addictive and to some extent, it contributes to weight gain, thus, its consumption should be restricted. On the contrary, coffee has played an imperative role in human lives in various ways such as cultural, social, political, globalization, economical, and medicinal aspects, and thus its consumption should not be restricted. First, coffee plays a significant role in cultural and customary occasions in many societies. For example, it is presented and consumed in many communities whereby it plays various roles with regard to a particular culture. For instance it acts as ethnic or religious representative of many groups, matrimonial or funeral essential commodity, irreplaceable element for individuals and professionals at all times. In addition, coffee is a symbol of hospitability, whereby social hospitable norms of many ethnic and religious groups require them to offer at least †Å"a cup of coffee to their guests† as their standard etiquette (Topik 86). This is commonly seen in various religious societies, in which guests are often presented with a cup of coffee. For example, Muslims either in Ramadan or in their traditional weddings, keep coffee as a mandatory item for their guests. Similarly, Catholic, Jews and orthodox also keep this social beverage at important events such as funerals, marriage ceremonies, political and social meetings, and most importantly at professional work places (Croegaert 468). Secondly, coffee has been a crucial component of political and revolutionary movements’ gatherings and meetings. Throughout history, coffee houses have been social places for political and revolutionary movements across many nations. Companies such as Starbucks, Nestle, Proctor and gamble among others are popular for promoting a coffee culture where people can go relax in their coffee outlets and lounges, and consequently catch up or discuss po litical and social issues. Starbucks even went as far as providing Wi-Fi in their coffee lounges in Australia so that customers can even work while enjoying coffee and connecting. During the era of globalization and industrialization, coffee places were highly valued, and it represented a culture of class of people. Likewise, this era witnessed increasing activities of social movement groups, and as customary, coffee houses became their favourite meeting places. Hence, people planned, discussed and organised their social and political revolutions in â€Å"kefeteria† or in coffee houses against the government of that time (Croegaert 468). Therefore, restricting consumption of coffee would destroy such cultures and the values attached to it. Thirdly, coffee plays a crucial role in development of economy, which is evident from various companies that have made profit from coffee processing and sales. In the twentieth century, in USA 80% of the coffee production and supply was ass ociated to the four renowned brands namely; Nestle, Proctor and Gamble, Sarah Lee and Philip Morris. Likewise, Starbucks, MacDonald’s and Dunkin doughnuts have been responsible for the expansion of this social beverage throughout the world, especially in USA (Topik 100). With variation in the forms of coffee like espresso, cappuccino, cold-coffee; it overwhelmed cola-drink trend in the youth. Moreover, Dunkin Doughnuts and

Math Lab Report Example | Topics and Well Written Essays - 250 words

Math - Lab Report Example Grade Book button contains grades of the completed quizzes and tests. Expand Chapter content button it populates more tabs with the heading of the chapters and their details. Expand Tools of Success button contain the helping tools, help, support and suggestions. Multimedia Library Button Contains access to multimedia resources available for our textbooks. Pearson Tutor Service contains access to Pearson Tutor Services for personalized, detailed assistance with what we are learning. Discussion button currently doesn’t contain anything right now but it the place where students can discuss issues in their assignments. Expand Course Tools menu to access item such as email, the Class Live chat environment, document sharing, and instructor tools. In homework section, homework for different chapters is placed in different icons buttons. Assignments for different chapters are also accessible in this section. This section also contains questions for chapters and can provide help in solving these questions. For example, the interactive graphic tools is provided in Chapter 1 Homework Objective 1 question 1, by which student can easily solve such questions. Te basic aim of this section is to provide various tools that can be utilised while solving questions. For example the graphic calculator can be utilized while working with a data set. It requires entering the data and then using the calculator various statistical analyses can be done on the given data set and all such info is provided in the ‘Graphing Calculator Help’ and the ‘review’ tab provides summarised content that may be needed while dealing with mathematical problems. ‘Support for technology’ tab also includes useful guides for using the graphic calculator and working on MS Excel. ‘The extended applications tab provides various case studies where the mathematical tools are utilised for solving problems in the real world. The mathematical application in the management

What are the benefits and hazards of medical marijuana Research Paper

What are the benefits and hazards of medical marijuana - Research Paper Example The federal government considers marijuana as a class one controlled substance and is, therefore, illegal to have while more than twenty states in the country have effective laws that govern the use of marijuana as a medicine. Such contradictions in the importance and illegality of the drug continue to heighten the controversy that surrounds the use of marijuana in the country. This report, therefore, discusses the benefits and the hazards of medical marijuana with the view to determining the suitability of the substance. The report presents a number of the medical benefits of the drug and compares them to the possible hazards of the substance. Such is a contribution to the raging debate on the use of the drug. Cannabis sativa also known as marijuana is a type of psychoactive drug. The drug has a number of physiological and psychoactive effects. Owing to such nervous effect, the federal government just as many other governments throughout the world banned the use of cannabis in the country. However, a number of scholars and medical practitioners began vouching for the use of the drug claiming that it presented a number of medical benefits. As such, medical marijuana has been in use in a number of state and come in various forms suitable for smoking, vaporization and ingestion in the form of a pill. However, the use of the drug and the numerous advantages it presents remain contentious. Scholars and medical practitioners continue to give varied opinions concerning the use of the drug. Supporters of the use of cannabis continue to cite a number of benefits it presents while opponents of the use of the drug allude to the numerous hazards it presents as the discussion below portrays. Key among the medical benefits of marijuana is that it contributes to the management of such serious diseases as cancer, sclerosis and AIDS among many others. Marijuana can help relieve the pain from the above diseases (Caulkins, Hawken, Kilmer & Kleiman, 2012).

Real Option and Investment in UK Research Proposal

Real Option and Investment in UK - Research Proposal Example We clarify that real options are not confined with real assets only. Patent, R&D, Brand etc. are examples of assets that save a value to the owner. The capital investments should be viewed as a strategic investment that incorporates the real options. Valuing a real option is a real challenge for the managers in UK 3. 1) How UK Investors can use the concept of "real options" to explain part of the difference in market value and the intrinsic value as calculated using traditional methods. Real options represent what is possible beyond the current business operations. Investors can ignore real options, try to find real option value for free, or consciously seek out companies that have abundant real option value. 4) How real options in part to explain the gap between how the stock market prices some businesses and the "intrinsic value" for those businesses as calculated by traditional financial analysis, specifically discounted cash flows. This Chapter is dedicated to evaluate investment; initiatives Net Present Value (NPV) and Return on Investment (ROI) are commonly used 4. But sometimes it becomes very difficult to measuring the value of investment for new project or technology due to their wider scope of application. The Projected cash flows seem meager in comparison to the investment required. At the same time discount rate chosen to compensate for the risk is so high, which renders the NPV unpleasant. In this case Real Options Analysis should be a better way to evaluate its adoption in the Investment Strategy and

Porters Five Force Analysis on Whitbreads competitiveness in Hotel Essay

Porters Five Force Analysis on Whitbreads competitiveness in Hotel Industry - Essay Example The researcher states that until the last years of 20th century, Whitbread has long been concentrating on brewing, but it has started its own restaurants, pub partnerships, inns, health and fitness service, drinks etc and has recognized that this will eventually give greater benefits to the business than the marketing potential of brewing. When it comes to hotel industry, the threat of new entrants is a big issue since it requires relatively less initial investment. The threat of new entrants in the case of brewing is also same, but hotel industry is more likely to attract customers if the hotel or restaurant can provide unique quality of goods and services. Differentiation matters a lot to hotel industry. A restaurant that is able to differentiate its products through innovation can substantially achieve significant competitive advantage. Whitbread’s Annual report reported that innovation has been critically significant strategy to its business as it listened to its customers for valuable research and thus its products and services were constantly adapted to changes. As shown in the figure above, Whitbread has identified that the contribution from restaurants, hotels and health and fitness were much better than that of other sectors and this showed how competitive the company can be in hotel industry. As far as hotel industry is concerned, threat of substitutes is greater since there are close substitutes available in the market. Confectionaries such as small treats, chocolates, soft drinks, packaged food or drinks are close substitutes.... Whitbread’s Annual report (1999, p. 15) reported that innovation has been critically significant strategy to its business as it listened to its customers for valuable research and thus its products and services were constantly adapted to changes. As shown in the figure above, Whitbread has identified that the contribution from restaurants, hotels and health and fitness were much better than that of other sectors and this showed how competitive the company can be in hotel industry. Threats of Substitutes As far as hotel industry is concerned, threat of substitutes is greater since there are close substitutes available in the market. Confectionaries such as small treats, chocolates, soft drinks, packaged food or drinks are close substitutes. Apart from this, the switching costs will be less for customers as they can easily obtain substitutes. But, threat of the substitutes to the services provided by hotel industry seems less significant as hotel industry can attract and retain its customers by facilitating supreme quality services. Restaurants, resorts and hotels have greater opportunities to convert the existing customers to loyal customers if they provide highly valuable services (Hayes and Miller, 2010, p. 365). Bargaining power of Suppliers Suppliers in the hotel industry are farmers, companies, retailers or wholesaler. As far as hotel industry is concerned, the demand for fresh and quality materials will be higher and suppliers of quality fruits or food items have relatively medium bargaining power. Since there are large numbers of suppliers available in the market, bargaining power is relatively less. Bargaining power of buyers For customers of hotel industry, there

Economic Indicator Forecast Paper Essay Example | Topics and Well Written Essays - 1500 words

Economic Indicator Forecast Paper - Essay Example It has been forecasted that the FED is going to increase the interest rates in late 2009 or early 2010 therefore the expectations are that the prime interest rates will be in the range of 3.50% to 4.00%. Another forecast indicates that until December 2009, the prime interest rates may hit the figure of 4.00% and will continue to move upwards until 4.75% in December 2010. (http://mortgage-x.com, 2009). This forecast is slightly more generous than the earlier projection however, considering the other fact that financial system has to cope with the increasing losses too therefore it is possible that the interest rates may go up to 4.75% in December 2010. The increase in the prime interest rates may decrease the demand for automobiles because the financing cost of such products would increase and consumers may find it difficult to purchase new cars at high increasing interest rates. Further, it may also be possible that the increase in interest rates may further increase the overall cost of doing the business for automobile firms. The forecast up to Oct 2009 indicates that the new housing starts within US would be 683,000. (http://forecasts.org, 2009) however; recent statistics suggest that there is a steep increase in the housing activity in the country. Whereas according to some estimates, the housing starts are going to depress or at least remain within the current limits until 2011. (National Post, 2009). These forecasts indicate somewhat mixed forecasts as it indicates that the housing starts may indicate random patterns on month wise averages however, the overall projections may indicate that the housing starts would remain at the present level at least up to 2010. I believe that later forecast that the housing starts will depress until 2010 are more plausible because interest rates are projected to increase later this year therefore the finance to builders as well as mortgage rates are set to increase too. This may therefore, result into