Hospitality Management

Level 1 Foundation Diploma in Hospitality Unit 2 Why the hospitality industry is important Guided Learning Hours: 30 (25 for teaching and learning activities, 5 for assessment activities) Unit aims The wider hospitality industry and the seven industries within it, provide a stimulating and challenging world for you to study and work in. Through this unit, you will learn how the everyday lives of people are affected by the important contribution the hospitality industry makes to the UK economy and the local community you live in.You will discover how the world of tourism can affect the hospitality industry, as well as the impact that factors such as major events or natural disasters can have. This unit will include plenty of opportunities for you to visit real hospitality establishments and businesses to build your knowledge and understanding of the industry. During these visits and other learning opportunities, you will also have an opportunity to talk to industry specialists about t he hospitality industry and the jobs they do within it. Assessment Method This unit is internally assessed.The assessment for this unit involves planning and reviewing activities to demonstrate the learner’s knowledge and skills. Learners will be expected to take responsibility for their own role and adapt behaviour accordingly. For further information about the requirements for this unit, including controls teachers must refer to the ‘Internal Assessment Specification’. EDI have produced sample assessment material to further specify the requirements for centres. 1 Learning Outcome Learners will: 1 Understand the importance of the hospitality industry Assessment CriteriaTaught Content Learners can: 1. 1 Describe the levels of hospitality revenue and employment locally and nationally. 1. 2 Compare the importance of different hospitality establishments to the local community. 1. 3 Describe job roles in the local area which are based in the hospitality industry Lear ners need to develop understanding of the levels of revenue and employment generated by the hospitality industry on a local and national basis. This will include recognition that the level of employment opportunities reflects the growth of the hospitality industry.Furthermore, they develop their knowledge of how income from these jobs contributes to the economy by feeding back into businesses, for example: by providing jobs (front of house, such as; waiters, bar staff, event managers, receptionists and cruise line pursers and back of house, such as; chefs, maintenance, finance, marketing, human resources) by bringing visitors to the area (eg a local hotel targeting the business and conference market or a major sporting event bringing supporters from other areas) This should build on learners’ knowledge of the wider hospitality industry developed in unit 1, including the range of hospitality industries and the businesses within them. As well as contributing to the local econom y, the hospitality industry is important to communities in various ways.Learners need to be able to compare the importance of different hospitality establishments to the local community considering, for example, the importance of: providing venues for local people and visitors in the area to meet sourcing food and beverages through local providers supporting issues of local importance, such as developing tourism packages to support a local wildlife or hiking centre, sponsoring local clubs and societies supporting local schools by giving talks about hospitality and how it contributes to the local economy and community Learners need to explore and develop their understanding of real job roles that are undertaken in the local community across the range of hospitality industries. Additionally they should develop understanding of the earnings and rewards that the industry can offer including career progression and the chance to travel, both nationally and internationally. 2 Learning outc ome Learners will: 2 Know about the factors which impact on the hospitality industry. Assessment Criteria Taught Content Learners can: 2. 1 Describe the effect of tourism on hospitality in the local area. 2. 2 Identify the factors impacting on the local and UK hospitality industry.Learners need to develop understanding of how the local hospitality industry can be affected by the tourism industry and its component parts including: visitor attractions – eg cultural and heritage sites, museums and galleries, theme parks, national parks, sporting venues, gardens, wildlife parks and zoos entertainment – eg sporting events, concerts, theatres, outdoor festivals facilities – eg transport (air/coach/train/taxi operators and associated terminals), Tourist Information Centres, travel agents and tour operators Learners should develop knowledge of how other factors affect both the local and national hospitality industry, for example: natural disasters – foreign touri sts are reluctant to visit those areas affected transport links interrupted – flights delayed by poor weather causes guests to arrive late increase in demand for hotel rooms when major events are held locally the threat of terrorism in different countries and locations A range of examples are included in this unit, however, this is not an exhaustive list and centres can use additional examples where appropriate. 3 Learning Outcome Learners will: 3 Be able to find out about hospitality in the local area Assessment Criteria Taught Content Learners can: 3. 1 Use sources of information to answer questions. Learners need to develop their skills in finding out about hospitality in the local area.Much of this can be investigative, including surveys of the area, visits to establishments and using the internet to explore websites. Other sources of information can include newspapers and magazines, local tourist information, libraries, trade and national press and publications, or profe ssional associations such as People 1st – the Sector Skills Council for Hospitality. The information collected should build a picture of the local hospitality industry, including the range of industries that make it up, the services and products it offers and the range of job opportunities it can offer. 4 Foundation Diploma in Hospitality Unit 2 Why the hospitality industry is importantAt each level, the three bands indicate the differences in learner achievement. Assessors should use the information in the table to decide which mark band best describes a learner’s work, then, refer to the guidance to determine whether to place the mark at the top or bottom of the mark band. A compensatory system operates, where an item missing from one band can be compensated by work fulfilling the criteria for a higher band. Band 3 The learner Band 2 The learner Band 1 The learner Total Learning Outcome 1 Understand the importance of the hospitality industry. Describes points to show some levels of revenue and employment locally and nationally.Compares some points showing the importance of some hospitality establishments to the local community. Describes points about some general job roles in the local area which are based in the hospitality industry. Describes accurately the levels of revenue and employment locally and nationally. Compares the importance of some hospitality establishments to some specific members of the local community. Describes some specific job roles in the local area which are based in the hospitality industry. Describes in accurate detail the levels of revenue and employment locally and nationally. Compares the importance of a range of hospitality establishments to a range of specific members of the local community.Describes in detail a range of specific job roles in the local area which are based in the hospitality industry. 10 0-4 marks 5-7 marks 8-10 marks 5 Learning Outcome 2 Know about the factors which impact on the hospitality indu stry. Describes points to show how tourism affects hospitality in the local area. Describes some significant ways that tourism affects the hospitality industry in the local area. Describes a range of significant ways that tourism affects the hospitality industry in the local area. Identifies a range of significant factors that impact on the local and UK hospitality industry. 8-10 marks Uses a range of sources of information appropriately to answer some questions independently. 10 10Identifies some general factors which impact on the local and UK hospitality industry. 0-4 marks Identifies some significant factors that impact on the local and UK hospitality industry. 5-7 marks Uses some sources of information appropriately to answer some questions with limited support. Learning Outcome 3 Be able to find out about hospitality in the local area Uses some sources of information to answer some questions with support. 0-4 marks Totals 12 9 5-7 marks 9 8-10 marks 30 6 Guidance for Centres D evelopment Opportunities Personal, Learning and Thinking Skills EDI has embedded Personal, Learning and Thinking Skills (PLTS) in specific assessment criteria within this unit.This is to ensure learners have the opportunity to develop these generic skills and competences within the context of learning experiences specifically related to the importance of the wider hospitality industry and the seven hospitality industries (hotels; restaurants; pubs, bars and nightclubs; contract food service providers; hospitality services; membership clubs and events) that it comprises. The identification and application of specific PLTS within individual learning outcomes and assessment criteria also allow learners to plan and review their personal achievement and development. There are further opportunities for a range of PLTS to be developed through the teaching and delivery of this unit. The following sections highlight some of these additional opportunities for PLTS development and provide guid ance for how these development opportunities can be implemented.Further information about PLTS and their application within the principal learning for the Diploma in Hospitality can be found in the guidance document. Assessed PLTS The following PLTS are assessed as part of the requirements of individual learning outcomes and assessment criteria and it is therefore necessary that they are delivered as part of the taught content. Independent enquirers (IE2) The outcome statement for this particular PLTS, as identified within AC3. 1, requires young people to â€Å"plan and carry out research, appreciating the consequences of decisions†. In learning outcome 3, this is in relation to learners’ ability to use sources of information about hospitality.This particular assessment criterion assesses learners’ ability to research hospitality in the local area. Centres need to provide opportunities for learners to use an appropriate range of research methods and sources, for example to investigate the range of industries represented in the wider hospitality industry, or the range of job roles, including those that the learners themselves might wish to pursue. Developed PLTS There are a range of PLTS which can be developed through the teaching and delivery of this unit. Learners will have opportunities to develop their understanding of the importance of the wider hospitality industry during visits to local establishments and opportunities to talk to people who work in the industry.Therefore there are likely to be a wide range of opportunities to develop Personal, Learning and Thinking Skills. Some opportunities for PLTS development are highlighted below, although the examples listed do not form an exhaustive list. 7 Independent enquirers (IE1, 4, 6) This unit builds on Unit 1 and will frequently use a similar method of delivery (eg visits to industry). Centres can use these to help learners to develop their ability to identify questions to answer and pr oblems to solve (IE1), for example asking questions of industry professionals as they research the levels of hospitality revenue and employment locally and nationally (LO1, AC1. 1).Centres can use this same assessment criterion to provide learners with opportunities to analyse and evaluate the information on revenue and employment they have found, judging its relevance and value (IE4). Learners will need to present their evidence and centres can help them to understand the importance of and build their ability to support their conclusions, using reasoned arguments and evidence (IE6). Creative thinkers (CT1, 4, 6) Centres need to provide learners with opportunities to generate ideas and develop creative layouts (CT1) for presentations about their work, for example by preparing a display of their findings about job roles in the local area which are based in the hospitality industry (LO1 AC1. ), or how tourism affects the wider hospitality industry in the local area (LO2 AC2. 1). Centr es can also encourage learners to ask questions to develop their thinking, particularly during visits to local establishments and presentations by local employers, for example on the importance of different establishments to the local community (LO1 AC1. 2). Discussion groups following such visits or presentations are ideal vehicles for learners to develop the skills of questioning their own and others’ assumptions (CT4), particularly when working in new areas of knowledge and understanding such as comparing the importance of different hospitality establishments to the local community (LO1, AC1. 2).Learners will benefit from teachers’ feedback and may need to adapt their ideas about the industry (CT6) as their broader knowledge develops. Reflective learners (RL2, 3, 5, 6) Centres need to provide learners with opportunities to set goals (RL2) with success criteria for their development and work. This can be achieved, for example, by setting a goal in relation to develop ment of their knowledge of the effect of local tourism (LO2 AC2. 1), such as a time frame for finding information or a format for presenting their findings. Using this same assessment criterion as an example, learners can benefit from reviewing their progress (RL3) through interim feedback from the teacher and acting on this to improve their knowledge and understanding of specific issues.This same approach (interim feedback) can also be used to develop the ability to evaluate their experiences and learning about the effect of local tourism in a way that informs their ongoing work (RL5). Presenting their findings to a group would use similar communications skills to those used during the feedback sessions, but learners can develop the ability to recognise their peers as a different audience and communicate their learning in a relevant way (RL6). Team workers (TW1) As with other units and areas of work, working in small groups can develop useful teamworking skills. Dividing learners i nto small groups each with a focus on a different 8 rea of work – for example identifying the factors impacting on the local and UK hospitality industry, where different groups can focus on the range of hospitality industries – will help learners develop skills to collaborate with others and work towards common group goals (TW1). Self managers (SM2, 3, 6) Centres need to provide learners with opportunities to work towards goals, showing initiative, commitment and perseverance (SM2), for example when comparing the importance of different hospitality establishments to the local community (LO1, AC1. 1), which for some learners could be a challenging task. Learners can take this forward, focusing on their ability to plan and manage their own activities (SM3), for example developing a plan that organises their time to help them research the importance of different hospitality establishments to the local community and presenting their findings to a group of other learners.Op portunities to develop their skills on responding positively to change, seeking advice and support when needed (SM6) can be geared to change in the industry itself, for example when considering factors that impact on the local and UK hospitality industry (LO2, AC2. 2). Effective participators (EP1, 5) Centres can use this unit as an opportunity for learners to discuss issues of concern, seeking resolution where needed (EP1). This can be applied, for example, when identifying the factors impacting on the local and UK hospitality industry (LO2, AC2. 2), where learners may need clarification and support on their findings. Centres can use the same opportunity to develop learners’ ability to influence others, negotiating and balancing diverse views to reach workable solutions (EP5).For example, they can consider the implications of a particular factor and how this may affect different stakeholders, as well as the hospitality industry. 9 Functional Skills Learners at this level mus t achieve ‘mastery’ in the functional skills of English, ICT and Maths at Level 1. ‘Mastery’ means that the learners are able to apply their skills in English, ICT and Maths at that level, in any situation related to living and working. Each functional skill has a separate, externally set and marked summative assessment. However, if learners are to acquire ‘mastery’ of the functional skills, it is preferable for them to be provided with integrated learning opportunities in which to emonstrate application of all 3 functional skills. In providing such opportunities, teachers will find it relatively easy to integrate English and some sections of ICT into projects, but integrating the functional skill of Maths will require more thought. However, prior to embarking on full projects, learners will need to practise demonstrating competence in applying functional skills during simple classroom exercises. Teachers should focus on the right hand column o f the standards for the functional skills of Maths and English to ensure that learners achieve full coverage of the standards, ie ‘mastery’, and to ensure that they are prepared for the external summative assessment.With regard to ICT, however, the middle and right hand columns need to be covered. Suggested activity The activity below is an example of an activity which shows how functional skills can be developed through the delivery of this unit. There is no requirement for learners to complete the activity highlighted below and teachers may prefer to deliver the learning outcomes within this unit through other delivery strategies. However, teachers should refer to the following example as a specification for how functional skills can be addressed through delivery activities. Further information about how the unit may be delivered can be found in the delivery strategies section of this unit specification.Using the idea of mock interviews, learners should be invited to apply for a job in one of the seven hospitality industries (hotels; restaurants; pubs, bars and nightclubs; contract food service providers; hospitality services; membership clubs; events), which they should agree with their teacher as part of the preparation for this activity. (The job role should be one that interests them and reflects their skills and attributes. ) Activity Learners are required to: Look at their personal outgoings and identify the level of salary they require. They should then research the type of organisation in which they would like a job. Functional skills addressed ICTU1. 1, 1. 2, 1. 3, 1. 4, 1. 5; 2. 1, 3. 1, 3. 2, 4. 2, ICTFS1. , 2. 1, 2. 2, 2. 3 ER1. 1, 1. 2, 1. 3 M1. 1, 1. 2, 1. 4, 1. 8, 1. 9, 1. 12, 1. 13, 1. 15. 1. 16 10 Complete an application form for the job Prepare a CV A personal profile giving their reasons for wanting to join that organisation and listing their strengths/weaknesses etc Take part in mock interview ICTD1. 1, 1. 2, 1. 3, 2. 1. 3. 1 , 3. 2, 4. 2 ER1. 1, 1. 2, 1. 3 EW1. 1, 1. 2, 1. 3, 1. 4, 1. 5 ESL1. 1, 1. 2, 1. 3, 1. 4 Legend ICTU1. 1= ICTFS1. 1= ICTD1. 1= M1. 1= ESL1. 1= ER1. 1= EW 1. 1= ICT 1. 1 Use ICT systems ICT1. 1 Find and select information ICT1. 1 Develop, present and communicate information Maths 1. 1 English speaking and listening 1. English reading 1. 1 English writing 1. 1 Please refer to the EDI Guidance for Centres, which gives tables showing the full list of learning outcomes for functional skills. The functional skills identified as being addressed are dependent upon the scope of the project as presented by the learner. 11 Further Marking Advice Glossary of Terms Accurate The learner uses a description of revenue and employment which is factual and reflects a precise and exact picture or reflection of the situation. Appropriate The learner uses sources which will provide the information needed . Compares The learner examines and notes similarities or differences. Describes in detailThe learner gives an account or representation of the levels of revenue and employment in words covering most key or significant points or issues in a coherent and organised way. General The learner makes correct points that relate to the factors impacting on the hospitality industry; however there will be little application to the actual situation presented. Significant Important in effect or meaning. Specific The learner refers to points that are in real existence, for example the job role will be a real one in a local establishment. 12 Mark Scheme Exemplification Mark Band Mark Band 3 – Learners up to Pass level, meeting assessment criteria at lowest level. Exemplification At the top end of mark band 3 it is likely that learners will have produced all the evidence required for this mark band.However, the mark grid is a compensatory model and therefore a learner might have a mark at the top of mark band 3 with some evidence missing, but compensated by some present in higher mark bands . At the bottom of mark band 3 it is likely that learners will have only partly completed the evidence required or their work falls short of the required standard for the level. Learners need to describe levels of both revenue and employment, both locally and nationally. For mark band 3, the learner needs only to describe points (this must be more than just a list), which may not be cohesive. The points are unlikely to be well organised, but should have some relevance to the importance of the hospitality industry. Some points are likely to be weak.Learners need to make some points about the importance of some establishments to the local community. Again, points may not be well organised, may be weak or have limited relevance. The establishments considered may be limited in number or type and will probably be limited to those the learner has visited or studied in case study materials. Learners must make some attempt at comparison, for example by commenting on the value to the communi ty. Learners will have described a small number of job roles, but this will be in general terms, rather than referring to the work of real people in the industry. Learners need evidence that reflects their knowledge of the factors (including tourism) affecting local and UK hospitality.They should be able to describe some simple points about how tourism affects the industry, such as the proximity of a local airport or a nearby Tourist Information Centre, but these may lack relevance. They need to identify factors affecting the local and UK industry in similar ways, for example agricultural problems such as foot and mouth. These again may lack relevance (eg little direct effect on a citycentre hotel). Learners will use some sources of information but they may interpret the information incorrectly or at a very superficial level when answering related questions. They will need direction from a teacher to complete the task. 13 Mark Band Mark Band 2 – Learners displaying understand ing/skills beyond minimum required by assessment criteria. ExemplificationAt the top end of mark band 2 it is likely that learners will have produced all the evidence required for this mark band. However, the mark grid is a compensatory model and therefore a learner might have a mark at the top of mark band 2 with some missing evidence compensated by evidence in a higher mark band. At the bottom of mark band 2 it is likely that learners will have all the evidence required for mark band 3 but with one element of evidence for mark band 2. Learners need to describe levels of both revenue and employment, both locally and nationally. For mark band 2, descriptions need to be accurate, for example reflecting a clear picture of the proportion of hospitality revenue against GDP, or the numbers employed in a particular job role.The comparison should reflect the similarities and differences of two or three hospitality establishments and why or how they are important to specific the local commu nity. These may be one or two examples, such as providing discounted menus for a local pensioners group or sponsoring a local football team’s kit. Learners will have described a range of job roles and some of the roles described will demonstrate the work of real people in the industry. However, this standard will not be consistent and some of the job roles will only be described in general terms. Learners need evidence that reflects their understanding of the factors (including tourism) affecting local and UK hospitality.They should be able to describe some significant ways in which tourism affects the industry, such as the provision of accommodation, food and beverage services for tourists visiting a local attraction. They need to identify some factors affecting the local and UK industry that are significant, having a clear importance or relevance to the local area, such as a new factory opening that would need catering services. Learners will use a range of sources of infor mation to answer questions, at times the information will be used appropriately but this standard will not be consistent. Learners will seek support from a teacher to carry out routine elements of the work. 14 Mark BandMark Band 1 – Learners displaying understanding/skills at the highest level specified by the assessment criteria. Exemplification At the top of mark band 1, learners will have produced evidence to fulfil all of the requirements for the mark bands. At the bottom of mark band 1 it is likely that the learner will have produced all the evidence required for mark band 2 but with one element of evidence into mark band 1. Missing work in mark band 2 could be compensated by two elements in mark band 1. Learners need to provide a well-organised and detailed description of levels of employment and revenue at local and national level that is accurate and factually correct (guidance on structuring their evidence should ensure they are clear about this).The level of detail can be achieved by presenting evidence at industry level supported by evidence from their research (for example charts showing national employment distributions in different hospitality industries), then drawing information together into an overview. The comparison reflecting similarities and differences should cover a range of establishments from different hospitality industries, showing clearly why or how they are important to a range of specific members of the local community. This will be best achieved where the range of community members shows contrast. Large numbers of similar examples will not reflect range or gain extra marks. Learners will describe a range of job roles in terms of the work of real people in the industry in their local area.This standard will, unlike mark band 2 be fairly consistent and the description will include accurate detail. Learners need to describe significant ways in which tourism affects the industry, which should show clearly the relationship bet ween the two industries, for example the provision of accommodation and parking packages to support tourists using a nearby airport. Similarly, they need to identify a range of factors affecting the local and UK industry, such as the growth of farmhouse accommodation provision as a result of declining agriculture. In both instances, large numbers of similar examples will not reflect range or gain extra marks. Learners will use a range of different sources effectively to answer questions.Support of a teacher will be sought to deal with challenging but not routine situations. 15 Control This unit is subject to MEDIUM level control. Specified tasks should be completed under the supervision and control of the teacher. Further guidance about controls for the assessment of this unit can be found in the Internal Assessment Specification. EDI have also produced Sample Assessment Material to further specify the requirements for centres. Guided Learning Hours Within this unit GLH refers both to time for teaching and learning and time for assessment activities. For this unit 25 hours must be dedicated to teaching and learning activities and 5 must be used for assessment activities.Assessment is likely to be through a project or assignment requiring straightforward delivery of knowledge and understanding. Employer Engagement Experiencing the world of work is critically important for learners. It provides opportunities for learners to demonstrate that they are familiar with the hospitality industry and for this to be duly recognised through either practical performance or learning in a work-based hospitality environment as part of a work placement. Centres and individual teachers need to develop good relationships with the employers who have shown their willingness to contribute to delivery by supporting the Diploma Gateway process.Industry mentors can also add valuable input and support individual learners. Building solid relationships with the local hospitality industry is extremely important for this unit and an employer could be used to introduce learners to both the industry and the unit (this could be done in conjunction with Unit 1: Introducing how the hospitality industry works). Other opportunities for work-related learning can be maximised by arranging day or half-day trips to a range of establishments in different hospitality industries. This could involve a tour of the establishment with a manager, or by experiencing the establishment’s services as a customer. Such visits will add greatly to realism and vocational relevance.Learners can be provided with targeted websites from a wide range of organisations and establishments (large and small, privately and publicly owned) to investigate, either in general or focused on a specific issue. There are excellent opportunities to explore learners’ potential career development. Employers can also support teachers and the development of materials by providing real or simulated data re lating to revenue, information about staff employment opportunities and turnover, information about any links they already have with the local community, copies of job descriptions or recent advertisements, examples of where they engage with the local tourism industry, and case study materials on factors that have impacted on their operation (either locally or nationally, if the establishment is part of a larger national chain).Employers can also contribute to classroom input where this is appropriate, such as by giving an introduction to the unit, or leading a discussion on learners’ findings. Employers are crucial to the assessment process. They can help to build assessment materials, commenting on their realism and relevance to the hospitality industry. Employers can also contribute to formative and summative assessment, for example by reviewing the evidence that learners have produced on the importance of the hospitality industry to the local economy or community, or by a ttending presentations by learners on the factors which impact on the hospitality industry and asking pertinent questions. 16 Delivery StrategiesThis unit should relate to and complement the delivery of Unit 1: Introducing how the hospitality industry works, as well as contributing to development in other units. Its aim is to develop learners’ understanding of the importance of the hospitality industry, including levels of hospitality revenue and employment locally and nationally, the importance of different hospitality establishments to the local community and job roles in the local area which are based in the hospitality industry. Learners will also develop their knowledge of the factors which impact on the hospitality industry, including the effect of tourism on hospitality in the local area and the factors impacting on the local and UK hospitality industry. Other local xamples might be the development of new housing provision, requiring additional hospitality support thro ugh pubs, restaurants, cafes and hotels, school meals and industrial canteens. Such a development would draw new people to the area, providing a wider group of potential customers. Similarly, the development or expansion of a local airport may increase the demand for hotel accommodation from travellers transiting in the local area. Learners should be encouraged to research the local area themselves and consider a range of local and national factors that will affect the industry they are studying. Visits to relevant hospitality establishments, setting practical and investigative tasks, and inviting visiting speakers to the centre can focus jointly on this unit and Unit 1: Introducing how the hospitality industry works.Such activities will underpin learners’ understanding of how hospitality contributes to the economy (1 in 5 of the new jobs created in the UK is in hospitality), how it can offer job opportunities and how it relates to the tourism industry. A short presentation t o hospitality employers to show understanding of the industry would be an appropriate piece of formative and/or summative assessment. Witness statements would further testify to learners’ knowledge and understanding of the industry. This unit could be delivered as part of or as the complete extended project. The learner's work experience could also be used as a vehicle for delivering the unit. Guidance materials need to be made available for learners so that they can continue to make appropriate career choices.Examples of how the unit could be delivered include: Visits to a selection of different hospitality businesses on a local basis to support learners’ understanding of the importance of hospitality establishments to the local community, for example: A local farm offering bed and breakfast accommodation (this could be combined with a talk on sourcing local produce) A small cafe or coffee shop operation (often dependent on visitors to the area for passing trade) A lo cal stately home or other tourist attraction (providing opportunities to consider the hospitality industry’s relationship with tourism) A local sports club venue Discussions with invited speakers from local hospitality businesses to add vocational realism to issues such as levels of revenue and employment 17Presentations from representatives of local organisations such as the Federation of Small Businesses or the Chamber of Commerce to underpin the importance of the hospitality industry to the local community Presentations by visiting tourism speakers to help hospitality learners relate to the tourism industry Group discussions of what experience learners have of the hospitality and tourism industries and how they relate to each other (this may be limited) Case studies that illustrate specific issues relating to the importance of the hospitality industry and the factors that can affect it Simple tests to underpin learning Active learning techniques that will promote understan ding for various learning styles include: A chart showing the range of hospitality establishments in an area to illustrate how the industry contributes to local and national revenue and employment A log or diary of visits to hospitality establishments indicating how knowledge can contribute to evidence Research activities, for example to explore how the hospitality industry contributes to local and national revenue Using up-to-date resources to find out about the hospitality industry, such as trade journals, industry-focused websites and, in relation to the local industry, local newspapers/reports and People 1st (the Sector Skills Council for hospitality) Investigating local job opportunities in the hospitality industry and presenting them in a chart format to illustrate the range of job roles and hospitality establishments represented A personal statement of their experience of hospitality and/or tourism (either through visits or personal experience) Role-plays to explore different hospitality scenarios – The level of support required by a learner or the independence they can demonstrate will vary, differentiating learners from the least and most able. Integrating units For this unit to integrate with others, centre teams need to consider the structure of their programme and how integration of units can be most effective. This unit builds on Unit 1: Introducing how the hospitality industry works and will help learners to understand the importance of the hospitality industry, how it relates to the tourism industry and the range of factors that affect it.It will also integrate in limited ways with most other units in the Foundation Hospitality Diploma. Learners can develop skills and understanding and/or generate assessment evidence toward the following units: Unit 1: Introducing how the hospitality industry works This unit is externally assessed, which will impact on how learners develop their knowledge and understanding of the hospitality industry. Uni t 2: Why the hospitality industry is important will broaden this knowledge and understanding and improve learners’ confidence when tackling the external assessment. 18 This unit will also support development of evidence for Unit 2: Why the hospitality industry is important, particularly for learning outcome 1.Learners will be able to use their knowledge of the hospitality services provided by different job roles to identify those roles in the local area which are based in the hospitality industry. Learners will also be able to use their knowledge of hospitality services and the categories of establishments, providing them when they are developing their evidence for local issues and how these determine the importance of hospitality establishments to a local community. Learners can use their knowledge from this unit to build their knowledge of the factors affecting the UK hospitality industry and how it can be affected by tourism. Unit 3: Introducing customer service in hospita lityWhilst not directly related to Unit 2: Why the hospitality industry is important, this unit will help to provide a platform of knowledge that will help learners develop their evidence relating to the importance of the hospitality industry. Unit 4: Developing skills for the hospitality industry Learners will be able to use evidence from this unit focusing on teamworking and their understanding of different roles in the hospitality industry to help them identify job roles in the local area which are based in the hospitality industry. In reverse, learners’ knowledge of the importance of the hospitality industry gained through Unit 2: Why the hospitality industry is important can underpin the development of learners’ abilities as effective team members.Unit 5: Introducing responsible food preparation Links with this unit are more tenuous. It is possible for learners to make connections between the local economy and local issues (such as sourcing local foods and the ove rall impact on the environment) but this may stretch the capacity of Level 1 learners. Unit 6: Introducing skills for preparing and serving food and beverages Again, there is no direct link with this unit. However, learners may be able to appreciate how providing good food and beverage services can contribute to the local economy, providing a relationship with learning outcome 1 of Unit 2: Why the hospitality industry is important. 19 Resources TextbooksJones P: An Introduction to Hospitality, 2nd Edition (Thompson Learning 2002) ISBN: 0826460771 Holloway J: The Business of Tourism, 7th Edition (Financial Times/Prentice Hall 2006) ISBN: 0273701614 Gardiner J, Housley J: GCSE Hospitality and Catering: The Essentials (Hodder Arnold 2007) ISBN: 0340948396 Journals Learners may also benefit from articles in the Caterer and Hotelkeeper – available from high street newsagents. Hospitality magazine is the professional publication for industry managers’ established or aspiring . Published by the newly-branded Institute of Hospitality, with a passionate take on all things influencing and driving change in hospitality, each quarter Hospitality reports on key issues affecting hotels and restaurants, contract caterers and SMEs. Websites www. bha. org. k British Hospitality Association – the national trade association for hotels, restaurants and caterers British Institute of Innkeeping – the professional body for the licensed retail industry The industry’s leading hospitality job site, with a wide range of jobs advertised Caterer and Hotelkeeper industry journal Institute of Hospitality – the professional body for managers and aspiring managers working in the hospitality, leisure and tourism industries; aims to promote the highest professional standards of management and education in the international hospitality, leisure and tourism industries People 1st – The Sector Skills Council for the Hospitality, Leisure, Travel and To urism industries; site contains research into key facts and figures and industry issues Schools Hospitality Project – introduces 11-18 year-olds to the UK's hospitality industry and helps them learn about career paths within the industry; also introduces young people to the skills and attitudes employers look for. www. bii. org www. caterer. com www. caterersearch. com www. instituteofhospitality. org/ www. people1st. co. uk www. schoolsproject. co. uk 0 www. springboarduk. org. uk Springboard UK – industry-supported organisation which promotes careers in the industry and supports learning through the provision of learning materials for teachers British Tourist Authority – site contains considerable volume of information regarding industry data Visit Britain – the national tourism agency, promotes Britain internationally; aims to build the value of tourism to Britain and in England, generating wealth and jobs across Britain; site contains information rega rding tourism destinations, travel and accommodation targeted at overseas visitors www. tourismtrade. org. uk www. visitbritain. co. uk 21

Abraham Conclusion Essay

While writing the whole play for my group, and doing research, I learned a lot of things about Abraham. God helped Abraham a lot, first with the blessing, then Lot, and even for the birth of Isaac. Most of the time when something bad happens, Abraham doubted God. God never zapped him, or kill him, He was patient. At the end, Abraham could not help Isaac find a wife himself for he is weak and old, he trusted that God will help him like the way God helped him before. I think faith means to trust God completely, 100%. True faith is shown, when you yourself could not help anymore, only God could. And you trust unto Him a very hard job, being sure that He will be able to do it. See more: Beowulf essay essay This happened when Abraham was too old to go look for a wife for Isaac, he had faith that God will find one for him, and God did. What I learned about God while reading about Abraham is that God is very patient. Every time Abraham questions or doubts him, he doesn’t get angry. I also learned that God is faithful and true to his word. Every single promise God made came true, though not the way some people expected it. Last of all, I learned that God is omniscience. Though Sarah is very old and beyond the age of child bearing, God was able to make her have her son, the son that was the one to take the true blessing, Isaac.

An Analysis of Pieter Brueghel’s Painting, Landscape with the Fall of Icarus And W.H. Auden’s Poem, Musee des Beaux Arts

Pieter Brueghel, a 16th century Renaissance painter whose paintings have allegorical meanings. His painting Landscape with the Fall of Icarus was his only subject taken from Greek mythology. While his contemporaries’ work focused more on religious subjects, Brueghel on the other hand made his own mark by creating his own painting style; he was famous for his landscape paintings inhabited by peasants. His painting which is rich in imagery portrays the season of spring when Icarus fell into the sea, there is a farmer plowing the field, and the sea shore is busy with different activities. All these things come to life in Brueghel’s painting (www. pieter-bruegel-the-elder. org). W. H. Auden’s poem, Musee des Beaux Arts was written upon his visit to the Museum of Fine Arts in Brussels in 1938. His poem was influenced by Pieter Brueghel’s painting, Landscape with the Fall of Icarus. For Auden, the poem reflected the people’s indifference toward human suffering. The â€Å"miraculous birth† of a child was seen as insignificant since the children went about â€Å"skating on a pond at the edge of the wood† not mindful of the great occurrence which Auden likened to the birth of Christ. While ordinary people could disregard such phenomenal events; Auden pointed out that the Old Masters concentrated on such themes that were reflected on their art works (www. audensociety. org). It is also surprising that no one noticed the fall of Icarus into the sea, there was a splatter and there was an implication that Icarus was drowning and yet no one cared. The farmer continued plowing his field, the ship did not bother to stop and help Icarus instead it continued to sail. Auden believed that in Breughel’s painting, the fall of Icarus is parallel to the martyrdom of Christ. The Old Masters like Pieter Brueghel managed to create such great works of art to serve as a reminder of human suffering (www. audensociety. org).

Written assignment and pressntation Example | Topics and Well Written Essays - 1000 words

Written and pressntation - Assignment Example Psoriasis is characterized by abnormal differentiation of the keratinocytes, epidermal hyperplasia and high concentration of neutrophils (Gudjonsson et al., 2004). Psoriasis results in proliferation and dilatation of the skin blood vessels and thereby increases the concentration of the inflammatory cells in the dermis. Many systemic disorders are found to be related to Psoriasis such as diabetes mellitus, Crohn’s disease, cardiovascular disease, cancer, obesity, depression, and metabolic syndrome. (Mak, Hundhausen & Nestle, 2010). The types of psoriasis are Plaque psoriasis, Flexural Psoriasis, Seborrheic psoriasis, Guttate psoriasis, Postilar psoriasis, non-Postular Palmar Plantar psoriasis, and Nail psoriasis. The most common form of psoriasis is the plaque psoriasis which accounts for 90% of the cases (Roberson & Bowcock, 2010). As psoriasis is characterized by the keratinocyte concentration, a variation in the maturation and production of these keratinocytes leads to the i ncreased inflammation and promotes angiogenesis (Quesniaux, Ryffel & Pavoda, 2009). Psoriasis was initially considered as an autoimmune disease mediated by Th 1 Lymphocytes but the recent studies have found that IL- 23, IL- 22 and Th 17 are the important mediators of the disease (Gudjonsson et al., 2004). IL -22 was found to be at high concentration in the psoriasis patients whereas in the healthy persons, the molecule was not detectable. The treatment with Cyclosporin A has reduced the IL- 17 and IL 22 gene expression in the psoriasis patients (Gudjonsson et al., 2004). The inflammatory nature of the skin clearly proves that the immune cells react with an unidentified antigen in the body. Genome wide linkage studies were performed, to identify the key factor in the chromosomes. It was found that human leukocyte antigens (HLA) have a significant association with psoriasis. HLA A, HLA B and HLA C linkage to psoriasis was confirmed

Maritime Trade Essay Example | Topics and Well Written Essays - 2000 words

Maritime Trade - Essay Example e the United Kingdom under either part 1 or 2 of the register, he can do so by making a provisional application to any British consular officer or to any British High Commissioner office .Such office will forward the application to the Registrar, and if he satisfies that the applicant is eligible for registration, then registration will be granted by the Registrar within a period of ninety days. All varieties of vessels like from oil rigs to pleasure yachts may be registered under Maltese laws provided, they are owned by individuals qualified to own a Maltese ship. Individuals who are qualified to own a Maltese ship are detailed below: In Malta, Minister of transport has been assigned with extra-ordinary authority to prescribe the degree of the class of ships of ownership of a ship eligible to be registered and may notify other regulations and conditions in associations with the necessary ownership for ships. To register a vessel under the Maltese flag by the foreign beneficial ownership, a shipping company must initially be incorporated under the Registry of companies of Malta. Again, a foreign shipping company can save a large sum of money as the minimum capital required by Maltese law is as low as with an authorised capital of  £ 1250 of which a minimum of  £ 250 must be paid-up. Further, the company registration expenses are very low amounting to just  £ 250 and every year, annual return has to be filed by paying a fee of  £ 125. There are several advantages for registering a shipping company in Malta as it has a quick process and also, it is inexpensive. For registering a shipping company at Malta, promoters need not personally present in Malta. They can register a shipping company by operating remotely by forwarding a power of attorney to their legal representative in Malta, which is generally a law firm. Further, the principal place of business of such shipping company need not necessarily be in Malta and there are no limitations whatsoever on the

Investment Appraisal Techniques Essay Example | Topics and Well Written Essays - 1250 words

Investment Appraisal Techniques - Essay Example Some of the investment appraisal techniques used range from Net Present Value (NPV), Accounting Rate of Return (ARR), Internal Rate of Return (ARR) and Payback Period. Net Present Value (NPV) As one of the investment appraisal techniques, net present value (NPV) method ensures that the value of all the expected future cash flows is calculated into the present values (Droms, & Wright, 2010). More significantly, the net present value (NPV) method takes into consideration the difference that arises between the present value of the expected cash inflows of a project and the present value of the expected cash outflows that the project will yield in the future (Crosson & Needles, 2011). This is essential in the determination of whether or not the project is viable in the present condition if the projected will yield the projected cash flow in the future (Moyer, McGuigan & Kretlow, 2008). Calculations are done using the discount rate of the cost of capital that is determined depending on co nsiderations of the future projected risk of the project (Hastings, 2009). More so, the use of the net present value (NPV) method in capital budgeting is necessary because it analyzes the profitability level of the intended project (Mowen, Hansen & Heitger, 2012). Above all, use of net present value (NPV) method in capital budgeting analysis is critical because it is more sensitive as compared to other method because it relies on the future cash inflows that the project is expected to yield (Duenas, 2006). Net Present Value (NPV) method YEAR 0 1 2 3 4 TOTAL Initial Outlay (0) (300,000) (300,000) Sales revenue - - 350,000 390,000 410,000 1,150,000 Materials and components - (50,000) (65,000) (65,000) (50,000) (230,000) Salaries and Wages - (70,000) (80,000) (85,000) (85,000) (320,000) Depreciation - (45,000) (45,000) (45,000) (45,000) (180,000) Advertising - (25,000) (25,000) (25,000) (25,000) (100,000) Equipment disposal 120,000 120,000 Net cash flow (0) (490,000) 145,000 170,000 32 5,000 150,000 Discounted factor (15%) 1.0 0.8696 0.7561 0.6575 0.5718 Discounted cash flows (0) (426104) 109,634.50 111,775 185,835 (18,859.5) Overheads are not taken into account as expenses because it is not directly related with the project. More so, the overheads costs are related with the companies head office function. Accounting Rate of Return (ARR) Another investment appraisal technique that is used to estimate the expected rate of return of anticipated investment project is the accounting rate of return (ARR). More significantly, the use of the accounting rate of return (ARR) gives a more rapid way of estimating the expected net profits as a basis for comparing several different expected projects to be undertaken by a company (Siegel, Shim, & Hartman, 1998).   In addition, the accounting rate of return (ARR), takes an estimate of the returns that the expected project will yield during its entire useful life. As compared to the payback period method, the accounting rate of return (ARR) is rational as it considers the distribution of profits and not only the period the project is expected to take to get back the original amount of investment in the project (Brigham & Houston, 2009). One weakness of the accounting

The McCarthy Era That Affected The Russians in Hollywood Essay

The McCarthy Era That Affected The Russians in Hollywood - Essay Example (Freedland, Michael) The House Un-American Activities Committee (HUAC) held a series of showbiz trials, the aftermath of which is recorded by Freedland in his book, Hollywood on Trial. Careers of more than 400 people in Hollywood were destroyed, and they were blacklisted by film producers, as they were not able to satisfactorily answer the question of whether they then were, or had ever been, Communists. This was a weird situation, as the Communist Party itself was not banned in the US, and its newspaper The Daily Worker continued to be published. Those who were hauled up for questioning had three options—that of perjury (denial of links that they had with the Communist Party), taking refuge under the Fifth Amendment to the Constitution, which protected them from implicating themselves, or invoking the rights to free speech granted by the First Amendment. Edward Dmytryk, of Ukrainian origin, was one among the ‘Hollywood 10’ who were imprisoned and harassed. After spending some months in prison, on account of refusal to cooperate, he later relented, and testified. He admitted to a briefly held membership of the Communist Party in 1945, and revealed the names of fellow members of the Party from the film industry. He stated that John Howard Lawson, Adrian Scott, Albert Maltz and several others had pressurized him to include Communist propaganda in his movies. Dmytryk, after a while, moved to England, where he made some low budget films, and then went on to direct films for top studios like Columbia, 20th Century Fox, MGM and Paramount Pictures. Later, in the seventies, he entered academia, teaching at universities. (Freedland, Michael) The other nine—of the Hollywood 10—were Alvah Bessie, Herbert J Biberman, Lester Cole, Ring Lardner Jr, John Howard Lawson, Albert Maltz, Samuel Ornitz, Adrian Scott and Dalton Trumbo. Most of these ten were forced to leave the film industry and do other jobs like working in restaurants or teaching. Several produced

Cognitive biases and decision making Essay Example | Topics and Well Written Essays - 1000 words

Cognitive biases and decision making - Essay Example ob applicant, an interviewer may give a high rating to another applicant who is average at best because they appear more qualified than the previous applicant. Adjustment and anchoring biases may also influence decision making, especially in cases where the individual tends to make judgments on the basis of their initial assessments as anchor, while failing to make sufficient later adjustments (Das & Teng, 1999: p760). For example, an interviewer who has a high-caliber anchor or descriptions of the perfect job candidate may give average applicants substantially higher scores than the interviewer who has anchors of a lower caliber. In this case, evaluation and judgment is not dependent on competence but, rather, on anchors (Das & Teng, 1999: p760). Availability bias also influences the process of decision making, specifically as a result of inaccurate evaluation of event frequency based on the ease of memory recall. The aspects of a specific issue that are unusual and, as a result, more memorable, are more easily recalled and occur more frequently, which negatively influences the process of decision making in most cases. For instance, an interviewer may be influenced more by unfavorable and negative information as compared to more positive information. In such a scenario, availability biases is referent to a condition in which imaginations and beliefs of what could or should happen leads to the ind ividual making the decision remembering similar past situations and applying them to the current situation (Das & Teng, 1999: p760). Confirmation biases also have a unique impact on the decision making process and outcomes. In this case, there is a tendency for the decision-maker to look for evidence in order to confirm pre-conceptions, while ignoring any information that contradicts these pre-conceptions. One scenario that is especially liable to cognitive bias but can be improved through using the right decision making process is an evaluation of appropriate climate

PILOT STUDY PROTOCOL ON POLICY THAT PROMOTE OR FACILITATE OBESITY AND Coursework

PILOT STUDY PROTOCOL ON POLICY THAT PROMOTE OR FACILITATE OBESITY AND POVERTY WITH IT'S ASSOCIATED DISEASE DIABETES 2 - Coursework Example en poverty, obesity and diabetes 2; many of the people diagnosed with obesity and diabetes 2 are Native Americans, blacks and Hispanics, where rate of obesity reaches upto 70%, and this has been accredited to their deprived economic conditions. Obesity and diabetes are among the vigorously growing health problems faced by Americans. The prevalence in obesity rates has caused massive cases of diabetes 2 which in turn causes amputations, hypertension and blindness, and also increases chances of developing depression, cancer, heart disease, asthma, immobility and arthritis. Allowing the current rates of poverty and obesity to continue increasing implies that America will be trailing on a perilous track. Moreover, the obesity endemic, if left unimpeded, will contravene the substantial progress made in life expectancy and health in the recent decades (Klein et al., 2004). Certainly, if current and future generations are to live longer, healthy and exciting lives, this cosmic problem must be contained through effective policy formulation and implementation. Obesity costs the nation over $160 billion in direct therapeutic costs every year. Estimates indicate that yearly medical expenditures can be plummeted by between 7-12% if the government succeeds to eradicate obesity and diabetes 2 (Levine, 2011). Additionally, through Medicare and Medicaid, a substantial fraction of this cost is financed by assiduous taxpayers and this affects both federal and state budgets and significantly hinders meaningful economic development. It is too costly to overlook the skyrocketing premature deaths resulting from obesity and obesity-associated chronic diseases. Consequently, this pilot study seeks to explore the state government’s roles in regulating the two lethal epidemics. It will seek to explore whether the policies of developing EMR system that back diabetes prevention, guaranteeing parity of mental and physical health services, promoting active lifestyles, increasing Medicaid

Expert Testimony Reliability Case Study Example | Topics and Well Written Essays - 3500 words

Expert Testimony Reliability - Case Study Example Incompetent experts in criminal cases might be more newsworthy, but surveyors in civil courts face the same pressures. Last year, Geoffrey Wright, of EA Shaw, and I discussed the important role that expert witnesses have to play in dispute resolution (EG 23 July 2005, p90). The General Medical Council had just held that the evidence given by Professor Sir Roy Meadow at the criminal trial of Sally Clarke was "naà ¯ve, grossly misleading, incompetent and careless". He was found guilty of serious professional misconduct and stripped of his licence to practice. On 17 February, Collins J ruled that Professor Meadow had acted "honestly and in good faith": see Meadows v General Medical Council [2006] EWHC 146 (Admin); [2006] 09 EG 182 (CS). The appeal was allowed on the basis that his conduct should not have exposed him to such a sanction. In the same week, Lord Goldsmith, the attorney general, announced new measures designed to ensure that expert witnesses in criminal trials give their ob jective opinion only and do not act as advocates. Expert witnesses will have to reveal all of their evidence, and its source, to investigating police. They will also have to declare anything "that might adversely affect their credibility or competence as an expert witness "and must "not give expert opinion beyond their area of expertise". In contrast to a liberal admissibility view, Paul Milich maintains that "the jury's obvious limitations in evaluating complex scientific disputes cannot be overcome by the mythically powerful tools of cross-examination and closing argument." 2 He suggests that it may be over-hasty to assume that an adversarial proceeding will succeed in enabling a jury to understand scientific testimony satisfactorily. According to Mulch, when jurors are presented with complex scientific issues, they might choose to ignore these issues and make a decision based on other factors, such as an expert's physical appearance and his/her demeanor. Mulch's argument seems pl ausible because jurors might have to resort to this alternative if they really do not understand the proffered testimony. Since judges and juries do not share a common base of experience with an expert witness on the specialized matters being discussed in his/her testimony, they can have a difficult time probing into and evaluating the expert's reasoning and opinions. The accessibility of proffered claims can vary greatly depending on a number of factors, some of which were mentioned previously. The subject matter of some expert testimony can be inherently confusing, if not unintelligible, to laypersons. To return to a point made before, one

Why do we do school Essay Example | Topics and Well Written Essays - 1500 words - 2

Why do we do school - Essay Example oday, an individual does not necessarily require a degree to make money because the contemporary age is full of opportunities using which people can establish their own businesses and make much more money than what they can by becoming employed in other companies. However, doing business in the 21st century requires much more knowledge, and different kinds of talents and competencies that make it much more complex than what one needed to do business in the gone ages. Today, if a person has a lot of money granted to him by the parents but the person himself is not educated, it is quite likely that the person would be caught in the net of frauds laid by other smarter and more educated people. In the present age, it is even more important to have the skills to survive and thrive personally as well as as a businessman in a dynamic and increasingly multicultural society than to have money. Schools today serve the very purpose of inculcating these skills in the students in a whole range of ways e.g. by teaching them foreign languages, business administration and management, and advanced accounting techniques and softwares etcetera. Schools have proved their importance already by helping nations rise because of the quality of education imparted by them. â€Å"When the economies of Japan, Korea, Thailand, and other East Asian countries were growing at rates so fast that they were predicted to surpass the U.S. economy within short periods of time, the education system was often blamed for the nation’s seeming loss of competitive advantage† (Hanushek, n.d., p. 141). We do schools to grow intellectually as well as socially so that we can live a happy and prosperous life in the challenging environment of the contemporary age. In the highly competitive society of the present age, getting a degree from a school is only one of the factors that increase an individual’s chances of getting employed. There are thousands of people in the society who have the degrees and are still

Shares and Joint Stock Companies in the New Economic Model Essay Example for Free

Shares and Joint Stock Companies in the New Economic Model Essay Introduction Good morning, dear colleagues. I’m glad to see everyone here. Thank you for your coming. Let me start by introducing myself. My name is Elena Torlopova. I’m a freshman of the State University of the Ministry of Finance of the Russian Federation. I study at the department of the international economic relations. My aim for today’s presentation is to give you information about Shares and Joint Stock Companies in the New Economic Model I plan to be brief. My presentation will last only 5 minutes. As you can see, my presentation is divided into 3 main parts. At first I would like to give you the basic concepts and characteristics of joint-stock companies. Then I would like to take a look at benefits and lacks of joint stock companies. Lastly we are going to discuss the definition of blue chips and consider a situation where they are used. Please interrupt me if there is something which needs clarifying, otherwise there will be time for your questions at the end of my talk. The main information about joint stock companies Joint-stock company (JSC) is a company, the authorised capital of which is divided into a certain number of shares owned by shareholders. Shareholders bear no responsibility for its obligations and run the risk, within the value of shares belonging to them, of losses associated with the companys activity. A joint-stock company in which shares can be  traded freely and which may have unlimited number of shareholders is an open joint-stock company. A joint-stock company which shareholders have a pre-emptive right to buy shares sold by other shareholders is a closed joint-stock company. Such a company has no right to hold a public subscription to its shares or for that matter offer them for sale to the general public. Advantages and disadvantages of joint stock companies The company provides so many advantages that it is widely popular all over the world. The main advantages are: Huge resources A company can raise large amount of resources from the genera public by issuing shares. Limited liability The liability of the shareholders is limited to the extent of the face value of the shares held by them or guarantee given by them. Diffused risk The entire business risk of a company is distributed over a large number of shareholders. Thus, the risk is reduced for each shareholder. Despite the above advantages, the company form of organisation also suffers from certain demerits. Oligarchic management It is controlled by a small group of Board of Directors who hardly protect the interest of other shareholders. Lack of secrecy It is very difficult to maintain business secrecy in a company because of every business strategy is discussed in the meeting of the Board of Directors and the annual accounts are published and compliance to Government. Fraudulent management The directors and managers may function for their personal gain overlooking the interest of the company. â€Å"Blue chips† Blue chip stock constitute shares or securities of large reliable companies with stable indices derived from income and dividends paid. In essence, the term blue chip is employed in the stock markets by analogy to describe the actions of well-established entities. The term was coined by Oliver Gingold of Dow Jones Company in 1923. It is reported that  the term was born when Gingold was taking note of several businesses with shares priced at $ 200 per share or more. And went on to indicate intentions of writing an article about the blue chips. Thus the term was born. Typically, blue chips are indicators of the overall market. Blue chip shares are the most liquid securities market. The list of blue chip stock changes periodically, but there are always those that manage to stay on top for years. Examples of the western blue-chip companies are Apple, IBM, The Coca-Cola Company, Ford, Google, etc. In Russia blue chips occur mainly in the oil, gas, energy and telecommunications companies. In particular, the blue chips include such companies as Gazprom, Lukoil, Norilsk Nickel, Rosneft, Sberbank, Rostelecom, RusHydro, Polyus Gold, etc. These companies typically have leading positions in the RTS and MICEX. As you can see on the pie chart 15 percent of blue chips belong to Gazprom. It means that Gazprom shares are the most liquid in terms of sales and account for 15 percent of the total trading volume on the market. The second largest sales shares owned by Lukoil. They constitute 14, 02% of total trading in the market. Sberbank is the third after a Gazprom and Lukoil amounts to 13.88% of sales of its shares on the market. Norilsk Nickel and Rosneft makes 7.56% and 7% of sales in the market, respectively. And finally Surgutneftegas and VTB Bank constitute 4,82% and 4,28% of sales in the market. Thus the total weight of seven securities in the index is 67%, which implies that it is these securities provide direction and determine the dynamics of the Russian market as a whole. Conclusions We gave the definition of the concept of joint-stock company and it basic characteristics. Then we looked at the advantages and disadvantages of joint stock companies. And in the end we discussed the stock market, and specifically the blue chips and looked at the dynamics of the sales of seven major blue chips Russia. So, in conclusion I would like to say that joint-stock form of entrepreneurship plays an important role in the formation of normal conditions of operation of enterprises, allows shareholders to raise funds for its activities, and each worker can become the owner of the company, through acquisition of shares, each shareholder reduces the risk of losing a significant amount of money (each at risk only to the extent of its sum shares) allows you to work more efficiently, since  all are interested in making profits and dividends It should be emphasize once again that the joint stock company is a unique form of collective ownership of the implementation, where everybody i nterested in the results of its operations. Bibliography * http://en.wikipedia.org/wiki/Joint-stock_company * http://en.wikipedia.org/wiki/Blue_chip_(stock_market) * http://www.bukisa.com/articles/444625_basic-overview-of-blue-chip-stock

Overview of Portfolio Theories

Overview of Portfolio Theories Introduction The word â€Å"Portfolio† can be defined as; the totality of decisions determining an individuals future prospects† (Sharpe, 1970). Portfolio can consist of many types of assets such as plant, property, real and financial assets (P.A Bowen, 1984). Portfolio theories propose how rational and prudent investors should use their due diligence to diversify their investments to optimize their portfolios, and how a risky asset should be priced as compared to less risky asset. People have been investing in the different assets class since decades but then they realize the importance of risk and its negative implications, if not treated effectively. Every investor has his own tolerance of risk and investors defines it in his ability of taking it. The portfolio theories have been derived over time in order to effectively measure the risk and how it can be reduced by diversify in their asset. Article 1: â€Å"The Legacy of Modern Portfolio Theory† This article covers the highlights of modern portfolio theory, describing how risk and its effects are measured and how planning and asset allocation can help you do something about it. Modern portfolio theory is the theoretical conflicting of conventional stock picking. It is being put forward by the economists, who try to understand the phenomena of the market as a whole, instead of business analysts, who look for individual investment opportunities. Investments are explained statistically, as how much investor expected long-term return rate and their expected short-term volatility. It measures how much expected return can deviate much worse than average an investments bad years are likely to be. The goal of the theory is to identify your adequate level of risk tolerance, and then to come up with a portfolio with the maximum expected return for that level of standard deviation (risk). The portfolio it assumes that the investment universe consists only of two market securities, the risk free asset and risky assets. But the actual investment universe is much broader than that being put forward. The optimal level of investment is to invest on efficient frontier but doing this would mean to calculate the millions of covariance among the securities. This calculation could make the life of analyst as difficult as one could have ever imagined. To think practically, its better to put portfolio theory to work means investing in a limited number of index securities rather than a huge number of individual stocks and bonds. Index investing is the point the where portfolio theory starts to rely on the efficient market hypothesis. When you buy an index based portfolio strategy youre allocating your money the same way the whole market is which is a high-quality thing if you believe the market has a plan and it is efficient. This is why portfolio theory is one of the branches of economics rather than finance: instead of only studying financial statements and different financial ratios, you study the aggregate behavior of investors, some of whom seemingly have studied financial statements so that market valuations will reflect their due diligence and prudence. Article 2: â€Å"Theory of portfolio and risk based on incremental entropy† The article has used incremental entropy to optimize the portfolios. This novel portfolio theory has been based on incremental entropy that carries on some facet of Markowitzs (1959, 1991) theory, but it highlights that the incremental speed of capital is a more objective criterion for assessing portfolios. The performance of the portfolio just cannot be justified with the returns because we have to keep in mind the risk of achieving those returns. Given the probability forecasts of returns, we can obtain the best possible investment ratio. Combining the new portfolio theory and the general theory of information, we can approach a meaning-explicit measure, which represents the increment of capital-increasing speed after information is provided. The article has used example to make it more clear that as we try to become rich within days there involve high risk of even losing those money which we at-least own at present. The ineffective investment is like a coin toss either you have al l the money in your pocket or you end having nothing in your pocket. The same being very risk averse would not help you become rich. You there has to be a balance in selecting the portfolio and this article explain the optimal investment ratio. (pg 1) Markowitz explains us that an efficient portfolio is either a portfolio that offers the maximum expected return for a given level of risk, or one with the minimum level of risk for a given expected return. There is no objective criterion to define the maximum effectiveness of a portfolio given the expected return and risk level and different expects have different view about it. The Markowitzs efficient portfolio tells us about the indifference curve of the investor and about the market portfolio. It is not the portfolio which we need for the fastest increment of capital. So, this article has derived a new mathematical model. The model explains that when gain and loss are have equal chance of occurring, if the loss is up to 100 percent, one should not risk more than 50 percent of fund no matter how lofty the possible gain might be. This conclusion has a great importance and significant for risky investments, such as futures, options, etc. Most of the new investors of future markets lose all of their money very fast because the investment ratios are not well controlled and generally too large. we can obtain the optimal ratios of investments in different securities or assets when probability forecasts of returns are given. Comparison with Markowitzs theory The new theory supports Markowitzs conclusions that investment risk can be reduced by effective portfolio, but there are some obvious differences: The new theory uses geometric mean return as the objective criterion for optimizing portfolio and gives some formulas for optimizing investment ratios; and . The new theory makes use of extent and possibility of gain and loss rather than expectation of return and standard deviation (risk) of the return to explain investment value. Article 3: â€Å"On the competitive theory and practice of portfolio selection† To select an optimal level of portfolio has always been a basic and fundamental problem in the field of computation finance. There are lots of securities are available including the cash and the basic online problem is to agree on a portfolio for the ith trading period based on the series of price for the scheduled i-1 trading period. There has been increasing interest but also mounting uncertainty relating to the value of competitive theory of online portfolio selection algorithms. Competitive analysis is based on the worst and most unexpected case scenarios and viewpoint; such a point of view is conflicting with the most widely used analysis and theories being adopted by the investors based on the statistical models and assumptions. Surprisingly in some of the initial experiments result shows that some algorithms which have enjoyed a highly regarded repute seems to outperform the historical sequence of data when seen in relation to competitive worst case scenarios. The emerging com petitive theory and the algorithms are directly related to the studies in information theory and computational learning theory, in fact some of the algorithms have been the broken new ground and set new standards within the information and computational theory learning based communities. The one of the primary goal and objective of this paper is understand the extent to which competitive portfolio algorithms are in reality learning and are they really contributing to the welfare of the investor. In order to find out so they have used set of different strategies this can be adapted to data sequence. This is being presented in a mixture of both strong theoretical and experimental results. It has also been compared with the performance of existing and new algorithms and respects to standard series of the historical sequence data and it also present the experiments from other three data sequence. It is being concluded that there is huge potential for selecting portfolio through algorith ms that are being derived from competitive force and as well as derived from the statistical properties of data. Article 4: â€Å"International property Portfolio Strategies† The article talks about the investment decisions regarding real estate, and try to put in the Markowitz mean variance formula to analyze the real estate market. They are not confined only to local real estate diversification but they are also including international diversification. Markowitz mean variance continuum and graph is useful in analyzing the efficient securities, and they help in the selection of an optimal portfolio on envelope curve taking into account the risk preferences of an investor. But when analysts try to incorporate real estate market to the Markowitz theory the major problems regarding liquidity, heterogeneity, indivisibility and information are faced by them which restrict them from further optimal analysis. Many investors have tried to support the theory to make a portfolio by considering property as asset like equity and bond investments; although there are a lot of differences among the characteristics of assets discussed above, but one can diversify its portfolio by investing in real assets, analysts argue. The discussion was dominated by the concept of international diversification of assets including real estate. To support the analysis in UK the (Sweeney , 1988-1989) work in cited most of the times, he came up with the famous model of real estate to come up with efficient diversification strategy, he used rental value of for different countries and came up with the model of risk return theory; after that a lot of analysts including: [Baum and Schofield (1991), Brà ¼hl and Lizieri (1994), Gordon (1991), Hartzell et al. (1993), Johnson (1993), Sweeney (1993), Vo(1993) and Wurtzebach (1990)], have come up with analysis to support international diversification; but the result was som ehow was not justifying the inculcation of real estate to portfolio theory, because those assets were not correlated at all when inspected for the risk return behavior during last decade or so. This can be attributed to the failure of mean variance model to produce results, the main problems facing would be regarding data collection, technicalities, omitted categories, and ex post analysis. This is almost irrational and impossible to find the most efficient way to diversify a portfolio by including real asset as a separate asset, because of area problems, different locality, pricing conditions, economic conditions, liquidity differences, and data collection problems. As real estate market is highly uncorrelated even within the industry so the data sets are very difficult to find for analysis because of lack of empirical data on this market. Article 5: â€Å"Different risk measures: different portfolio compositions?† Choosing the suitable portfolio of assets in which to invest is an essential component of fund management. A large percentage of portfolio selection decisions were based on a qualitative basis, however quantitative approaches to selection are increasingly being employed. Markowitz (1952) established a quantitative framework for asset selection into a portfolio that is now well known. The measure of risk used in portfolio optimization models is the variance. Variance calculates how much deviation could be expected from the set of portfolio. The alternative methods of risk have their own theoretical and practical advantages and it is atypical that they are not used widely by investors. One of the reason may be because of the difficulty and complexity of understanding such models and then practically implementing those models and to decide in which measure of risk is best and gives the most realistic and useful results. It is important to identify the common risk measure and without doi ng so any attempt to measure the risk would be useless exercise. In order to cope with this, another approach is considered that is to comparing the portfolio holdings produced by different risk measures, rather than the traditional risk return trade-off. It is than being observed that whether the risk measures used produce asset allocations that are essentially the same or very different. In order to probe this concern this study tested the proposition that different measures of risk produce minimum risk portfolios that are essentially the same in terms of asset allocations, using monthly data over the period January 1987 to December 2002. The results show that the optimal portfolio compositions formed by different risk measures vary quite noticeably from measure to measure. These finding are very useful and have a practical implication for the investors because it recommend that the choice of risk model depends entirely on the individuals attitude to risk rather than any theoretic al or practical advantages of one model over another. It has been concluded that different investors have they indifference curve different from other and some of them like to take more risk as compare to other who are happy at earning low but safe returns. Conclusion It is being concluded that risk is more of a subjective term and different analysts and investor measures and perceive it in their own way. In todays word not even a single person can underestimate the importance of risk in selecting a security and emphasized is been given to diversification through proper portfolio selection process and everyone tries to optimize their returns given a certain level of risk. In order to do so they are using different statistical measures those have been derived over time to calculate risk. So selection of such method is limited to the understanding of a certain method to a certain investor and their effectiveness of results as compare to other methods.

Benefits of Teaching Culture and Language

Benefits of Teaching Culture and Language Definition of culture Culture (from the Latin â€Å"cutura† stemming from colre meaning â€Å"to cultivate†) generally refers to patterns of human activity and the symbolic structures that give such activities significance. â€Å"Farhang†, meaning culture, has always been the focal point of Iranian civilization. Values (the ideas about what in life seems important), norms (expectations of how people will behave in various situations), institutions (the structure of a society), and artifacts (things or aspects of material culture, which derive from values and norms) are four components of culture (Wikipedia, 2009). The culture of a people refers to all aspects of shared life in community. Children growing up in a social group learn ways of doing things, ways of expressing themselves, ways of looking at things, what things they should value and what things they should despise or avoid, what is expected of them and what they may expect of others. We can define culture from different points of view. But the most common definition of culture among several scholars is what Haddley (2003) have in his book â€Å"Teaching Language in Context†. She tries to classify aspects of culture into two groups. The first group is the best in human life. This is what is called Big-C culture. Literature, music, art, etc. fall into this category. The second group is everything in human life. This is called the small-c culture. This category includes the way people eat, dress, and behaves in their society. The importance of studying culture There are many benefits that people can obtain from studying culture. It is useful for understanding the people of other cultures and also one’s own culture (Kitao, 1991). It can also help us to be more tolerant (Saz as cited in De Gordon, 2007). Dominant thoughts in the societies during the history, the way people look at the world, living manners and different forms of socializing, enculturation and like that lead us to a better understanding and appreciation of economic affairs. According to various developments in the world we can say that although the content and form of culture may change, it never fade away. (Pahlavan, 2003). Culture has been studied under different sciences and fields of study and this can show the importance of culture by dealing with this phenomenon. Culture and language In this section we will come to a wider area and look at the culture with respect to the relation it may have to the concept of language. As usual in this section we will divide these relationships into different sections according to what different scholars believe. There are three kinds of relationship determined between culture and language. The structure of a language determines the way in which speakers of that language view the world. The culture of a people finds reflection in the language they employ. Cultural requirements certainly influence how a language used and perhaps determines why specific bits and pieces are the way they are. A neutral: there is little or no relationship between language and culture (Wardaugh, 1993) Culture and L2/FL Teaching and learning Although some teachers think that the present of culture in current writings is relative recent, a review of the L2/FL literature shows that this is clearly not the case. The early ages were the time people learned an L2/FL for the purpose of reading and studying its literature. Literature is categorized as the high culture or the best in human life (brook, 1975, as cited in Haddley 2003, p.361). The next stage of concerning with culture is the era of Audio-lingual. This is the era of communication goals in language teaching and the time the emphasis is on the â€Å"little c culture†. In 1970s, the communicative competence replaced the audio-lingual method. In this new paradigm a more natural integration of language and culture takes place through a communicative approach than a more grammatically base approach (Lessard-Clouston, 1997). Why teach culture In the previous section we saw that the relationship between language and culture is undeniable. Despite this certain fact we should think of the implication of this reality in a real situation. Therefore, we raise another question regarding the importance of teaching culture and why a teacher should teach culture in the classroom. In order to fully learn a foreign language, an individual needs to understand the culture that goes along with it. What follow are some of the reasons for teaching culture in the classroom. Giving the students a reason to study the target language. Help in teaching grammar: relating abstract sounds and forms of a language to real places and people. In achieving high motivation, culture classes does have a great role because learners like culturally based activities such as singing, dancing, role playing, doing research on countries and people, etc. It gives learners a liking for the native speakers of the target language. Culture studies have a humanizing and a motivating effect on the language learner and the learning process. They help learners observe similarities and differences among various cultural groups. Teaching culture (intercultural learning) Many people have shown their own contribution to the issue of relation between culture and L2/FL learning as well as the role of culture in learning/teaching a language in the classroom. Almost every book in the area of language learning has a chapter in teaching culture. Chastain (1987) maintains that language is used to convey meaning, but meaning is determined by culture. One of the major hurdles to the successful implementation of culture goals in language classes revolves around attitudes. Brown (2000) also has some points in this area: It is apparent that culture as an integrated set of behaviors and modes of perception, becomes highly important in the learning of an L2. The two are intricately interwoven so that one cannot separate the two without losing the significance of either language or culture. Dimitrios Thanasoulas (2001) says that the teaching of culture should become an integral part of foreign language instruction. Culture should be our message to students and language our medium. Teachers should present students with a true picture or representation of another culture and language. Baker (2003) believes that culture has become an increasingly integrated component of English language teaching in recent years. He argues that the root of integrating culture in language learning processes come from the theory of communicative competence delivered by Hymes (1972, as cited in Haddley, 2000, pp.3-5). In this theory communicative competence involves an understanding of the norms of social interaction of one socio-cultural community. This concept of communicative competence is called intercultural communicative competence. Central to the notion of intercultural communicative competence is cultural awareness. Culture and language teaching methods From the early stages of teaching language a lot of methods have been discovered by methodologists and researchers with different points of view towards second language teaching and learning. I’ll investigate several methodologies and their approach to culture and its relationship with language teaching and learning. Grammar-translation method: a fundamental purpose of learning a foreign language is to be able to read its literature. Direct method: culture consists of more than the fine arts (students study cultural values). Audio-lingual method: culture consists of the everyday behavior and lifestyle of the target language speakers. Language cannot be separated from culture. Silent Way method: they believe that culture, as reflected in students unique world view, is inseparable from their language. Suggestopedia: it says that the culture which students learn concerns the everyday life of people who speak the language. The use of fine arts (music, art and drama) enables suggestions to reach the subconscious. Community language learning: it believes in integrating the culture with language. Total Physical Response: says that culture is the life style of people who speak the target language natively. In Communicative Language Teaching: culture is the life style of people who use the language natively. The cultural-communicative learning paradigm: â€Å"learning a language is learning a culture. Intercultural competence Intercultural competence is an enormously popular concept nowadays, its content being discussed in a great variety of contexts. It is not possible to arrive at one particular definition of the concept it is always contextually determined, colored by the latest discourses on competence, culture, communication, language, etc (Risager, 2000). Looking for a comprehensive definition of this phrase, we encounter a lot of different ideas and various definitions. By Alvino E. Fantini (1997) a basic definition of intercultural competence includes: The fundamental acceptance of people who are different to oneself outside one’s own culture. The ability to interact with them in a genuinely constructive manner which is free of negative attitude (e.g. prejudice, defensiveness, apathy, aggression etc.) The ability to create a synthesis, something which is neither â€Å"mine† nor â€Å"yours†, but which is new and would not have been possible had we not combined our different background and approaches (www.kwintessential.co.uk, 2009). Penn State (2009) has also â€Å"A simple definition†: â€Å"the abilities to perform effectively and appropriately with members of another language-culture background on their terms. And finally, In essence intercultural competence can be summed up as the ability to work well across cultures. Culture in Foreign Language Curriculum A major goal of foreign language instruction is to increase students’ literacy in languages other than their own, thereby also increasing literacy in that culture. The concept of literacy encompasses the students ability to read with understanding, to write with clarity and accuracy, to understand what is heard, and to speak comprehensibly with accurate grammar and pronunciation. To communicate successfully in another language, students develop facility, with the language, familiarity with the culture that use the language, and awareness of the ways in which language and culture interact in society. Reaching this point is central to developing literacy in any language. Two aspects of culture appropriate to be included in the foreign language curriculum are: first, the society’s production of art, music, and literature, and second, the social conventions of that society’s members. Culture in the classroom Now it is the time to come to the classroom and investigate culture related to the requirements of the class: Foreign Language Teachers and Foreign Language Learners. Culture and language teachers Traditionally, language teachers have listed culture as one of the five principal objectives of second language study. Attaching the same value to culture as to each of the four language skills is no surprise because of its importance in the development of global awareness and international understanding, in being able to function in the second language society, and in stimulating and maintaining students’ interests and motivation. The primary goal and dominant focus of attention in most classes continues to be language, to the detriment of achieving desirable cultural objectives. As conclusion to this, the teacher ought to be able to describe and assess his or her own intercultural competence. A foreign language teacher should be able to: Understand the contributions and lifestyles of the various cultural groups Recognize and deal with dehumanizing biases, discrimination, and prejudices Create learning environments that contribute to the self-esteem of all persons and all positive interpersonal relations Respect human diversity and personal rights (Lafayette, 1979, p. 132). Some authors do recommend placing the greater emphasis on culture. What these authors are advocating is an organized, systematic presentation of the major characteristics of the second language culture that will lead students to an understanding and an appreciation of the culture. In many regards, culture is taught implicitly, imbedded in the linguistic forms that students are learning. To make students aware of the cultural features reflected in the language, teachers can make those cultural features an explicit topic of discussion in relation to the linguistic forms being studied. It is important for a language teacher as an influential figure in the class to be interculturally aware and responsive. Teachers should be aware of and sensitive to the cultural differences (Valdes, 1986), and its influences on students’ growth and learning. They should also be aware of their own cultural values and beliefs (Wang, 2006). Culture and language learners One of the principal reasons for stressing culture in language classes has to do with the students. They are extremely interested in the people who speak the language they are studying (Chastain, 1987). A program which seeks to develop systematic progress in cultural understanding side by side with growing mastery of the language will ensure that the language learners are able to communicate with the speakers of the language in the fullest sense of the word. Intercultural contact is both a means and an end in second language studies. It is impossible to identify the specific ethnic and cultural groups that represent native speakers of the language. As a result, in order to investigate the role of the intercultural contact in foreign language learning environments, we first need to explore what kind of contact students of foreign languages have with home and how frequently, what attitudes they display and how they see the role of contact in language learning. It appears that favorable contact leads to the discovery of cultural similarity and of our common humanity. Then, contact will improve attitudes (Piage R. M., et al., 1998).

First Exchange between Beatrice and Benedick being Greeted with Delight

The first exchange between Beatrice and Benedick is always greeted with delight in the theatre? Explain why this is so. Act one scene one of Much Ado About Nothing is always greeted with delight in the theatre for many reasons. It begins when Don Pedro and company enter a "golden world" in Messina where the women are already located. In this situation, people fail to take things seriously, causing the war of swords to soon turn into a war of words. Benedick and Beatrice are the main examples of male/female rivalry that converts into belligerent wordplay. The scene is greeted with delight because it is the first encounter between Beatrice and Benedick and Leonato has already explained the situation between them, stimulating the audience with the want to know more about the relationship between them. ?There is a kind of merry war betwixt Signor Benedick and her: they never meet but there?s a skirmish of wit between them.? Leonato explains the relationship between Beatrice and Benedick to the messenger. We also already know what Beatrice thinks of Benedict from her first line in the play whereupon she as ks ?I pray you is Signior Mountanto returned from the wars or no?? Here she makes a joke about Benedick?s arrogance as Signior Mountanto can be translated as Signior Stuck up. However there may be more to this than meets the eye, it is obvious that she cares about him otherwise she would not have asked but the covers this up with a snide comment bout the ego of Benedick. Here the audience has already established that both Beatrice?s verbal wit and dexterity and her apparent disdain for Benedick and what might be seen as her attempt to mask her true feelings and this is greeted with delight in the theatre. The clash of wit between ... ...and mistrust. He is grateful for his mother, but plans to have no other women in his life. Like Beatrice, by insulting the female gender, he is proclaiming the male gender as supreme. From this we see that Beatrice and Benedick are actually very similar. Both believe that they are joyous and pleasing, for example Benedick states ?I am merry? and is described as ?from the crown of his head to the sole of his foot, he is all mirth?. Beatrice also states that she was ?born to speak all mirth and no matter? and is described as ?a pleasant spirited lady?. Beatrice and Benedick are also similar because of their desire to stay single. We see this in the comments, ?I will live a bachelor? by Benedick and ?She cannot endure to hear tell of a husband? by Leonato about Beatrice. This shows Shakespeare?s dramatic irony as they end up falling in love with each other at the end.