Saturday, August 31, 2019

Mexican Americans in American Popular Culture Essay

It is a known fact that modern entertainment media created certain images and stereotypes of Latin, Asian and other ethnic minorities living in our country. American cinema movies, TV series or even PC games mostly picture the members of Latin and Mexican cultures as aggressive tempered mustached guys, who smoke and fight a lot, and who are always involved in drug distribution or some criminal activities. This tendency had very negative effects on our minds, and many of our citizens are convinced that there are no educated, good-mannered and decent people in Mexican communities. I was always wondering why it happens this way, and studying some historic material, including the articles from the site Digital History, helped me to find some answers on this question. This tendency proved to have a long history and it was formed during the second and the third decades of the twentieth century, when Hollywood producers started expressing their concern and fears caused by the afflux of talented Mexican actors, including Lupe Velez or Dolores Del Rio, their success and public recognition in the US. That is why many performers of Latin origin were given the roles of bandits, thieves and other not attractive characters. After the World War II a number of movies were produced, in which the directors tried to restore the image of Mexican Americans, but after the 1960s, when the problems of illegal immigration from the South became topical, caricaturizing the Mexicans continued. During the last decades, negative characters of Hispanic origin have been appearing in many popular cinema movies or TV series, starting from Chico and the Man and ending with 24. Also, a great contribution to reinforcing the distorted images of the Mexicans was made by a series of popular video games Grand Theft Auto (GTA). In my opinion, this situation is really dejecting, and I am convinced that recent attempts of Mexican artists to demonstrate their true cultural identity and unique distinctive heritage must be supported in our society, and their ethnic voices must be heard.

Friday, August 30, 2019

Impact of Violence in Movies and Video Games on Children

Impact of Violence in Movies and Video Games on Children Television and video games have become more violent in content. We have become desensitized to the graphic violence we are exposed to via television and video games. We have grown so use to viewing media with this type of content that it no longer phases us, and it almost seems normal. Violence can be found in everything from children’s cartoons with violent humor to video games that encourage players to kill opponents to advance to the next level.Studies show that children exposed to violence may be more aggressive. When children view violence as a way to solve problems, it can lead to bullying and an irrational view of how to resolve conflict. Studies have also showed that children exposed to violence can experience anxiety and the perception that the world is an evil place. Expert’s opinions Clearly there is no shortage of opinions on the impact of violent media on children.A report published by the surgeon gen eral back in 2001 pointed to a steady increase in youth violence for a decade from 1983 to 1993 with a quote â€Å"The report found strong evidence that exposure to violence in the media can increase children's aggressive behavior in the short term and concluded: Research to date justifies sustained efforts to curb the adverse effects of media violence on youths. † Surgeon General, 2001, p. 87). 10 years later, the issue and supporting studies have only increased.As one would expect there is an unbalance between information and studies available to compare with the negative impact side acquiring an overwhelming majority. Schneider Family Services Company director, Gina Simmons, states that a 1999 national study reported that an average American child spends 40 hours per week viewing various forms of media like TV, media, and video games. When these children complete elementary school this equates to them having seen 8,000 murders and 100,000 other acts of various violence.In addition Simmons references a July 2000 joint statement of six professional associations that concur there are more than 1,000 studies connecting media violence and aggression in children (Simmons, 2008, p. 1). Although Craig A. Anderson, a media violence researcher and a chair of Iowa State University’s Department of Psychology agrees that the abundance of violent video games tend to have negative effects on children’s behavior and states that â€Å"It’s Society, not science, that must decide how to deal with the negative effects of violent video games. † In contrast he also recognizes some positive influences from today’s video games.Anderson recognizes that most interactive games now require and include complex problem-solving skills. As well as referencing a flight simulator game he bought his son, which allowed him to develop skills used in NASA summer camp that amazed the camps staff (Hoerrner & Hoerrner, 2006). Analyzing and Contrasting From the surgeon general noting increases in violence among youth in the late 80s and 90s to a plethora of new studies supporting the same or similar evidence, one may be concerned with the bias that appears to exist primarily on the negative side of the issue.While analyzing deeper, and when looking through one filter, the focus on negativity toward children and media delves deeper. When the 1999 study above is mentioned, the numbers are shocking. The study showed that children spend 40 hours during the week on different forms of media; notably violence, but one has to question if the study would have equated for the abundance of media in society today, and how much media in our lives has skyrocketed. The study not only assumed the viewing amounts within a child's entire elementary cycle but also assumes how many hours of violence a child would likely watch.The reference to one thousand studies on the subject shows how clearly the issue is of concern to parents, teachers, and the futur e of behavioral condition society may have to deal with. What research has limited itself with is discovering the potential positive effects of video games, and violence in media and television. The expert views above indicate Craig A. Anderson may be suggesting strongly that violent media content negatively effects children, but he also points out that items such as interactive games, for instance, do illicit requirements for complex problem-solving skills.These skill types of skills and experiences can be referenced and reflected along with different areas being discussed. Comparing and contrasting the positives and negatives proves to be a harder task when it comes to discovering the positives, but there is a one likely reason. Media pressures developed by existing conditions in society likely form bias’s, which leaves little room for fair, reasonable, and mediated conditions or conclusions for evidence to be properly put forth on either side of the argument.Discovering th e positives resides in the logic of today's children. Children are developing complex problem solving skill sets far beyond those their parents did at the same ages and at faster rates. Studies must reflect the times, and not the basis of the past. Our Opinion Violent movies and video games do have some type of impact on children, but we do not think that it will cause the child to inflict violence on others. We believe that if left alone without proper supervision and guidance, it will have a negative effect.Growing up in a household with family values and ethics will allow the child to have a better understanding of what he or she does and to know the difference between what is real and what is fictitious. Let us focus on the fact that when we were children, we would watch cartoons in which one of the characters would chase the other around with a shotgun, light a stick of dynamite, and place it under their hat. The character would then fall off a cliff, followed by a giant boulde r on the head. In addition playing war games as young boys with the green Army men and simulating an explosion was quite exciting.Blowing the Army men up with firecrackers were all a part of the violent games we played. Shooting a BB gun or slingshot was also another way in which we enjoyed playing in the days before video games. The point we are trying to make is, violence has always been around and most people recognize the difference, and would not go out and inflict violence in the real world. A few mentally disturbed children may not know the difference in between the two, or children who were not taught the difference between reality and make-believe by their parents at an early age.We blame playing too many video games and watching too many movies as a cause of obesity in children, but we also parallel behavioral issues to the same mediums, which are why we should focus more on how children are raised rather than the influential mediums they are faced with. The Impact on Chil dren Though the point may be argued that violence in video games and movies has no effect on children, it is hard to imagine how such imagery cannot influence their actions.Modern video games – with their almost real looking graphics, in-depth story lines, and characters that resemble real people – are quickly approaching the realm of â€Å"virtual reality. † Gone are the days of Mario and Luigi saving the world and the Princess from the evil Bowser as in Super Mario Bros. Video games that are more recent involve stories that require automobile theft, use of illegal weapons, and violent fighting tactics to advance to the next level. These images paint the picture that in order to get what you want in life, you have to take it by force.According to a study done by the Gallup Company in 2003, â€Å"More than 70 percent of American teenage boys have played the violent but popular â€Å"Grand Theft Auto† video games, and they are more likely to have been in a fight than those who have not played† (Berkowitz, 2003). This study seems to provide clear evidence that some children’s real life is influenced by the video games they play at home. Young children are very impressionable and can easily gain a distorted view of reality by participating in these games. Berkowitz, in press) Certain movies are also influencing the actions and behaviors of young children. Parental guide rating systems have been put in place as advisories, though many parents completely ignore them. If a child wants ideas on how to rob a casino, fight, mistreat women, and/or blow something up, all he or she needs to do is visit the local theater. Better yet, the Internet and media companies like Netflix allow children to watch these scenes without leaving their homes.I remember watching â€Å"The Karate Kid† and realizing that martial arts are a means of self-defense and a practice in self-control and honesty. Hollywood’s modern twist makes g un-slinging bandits out to be more hero like and less villain like. The images that these children are seeing on the big screen has the potential to fill their heads with the idea that violence is a useful means to solve ones problems or get what he or she wants. Conclusion Violence is prevalent on television and in video games. The amount of violence children are exposed to via the media has increased.Cartoons feature slapstick characters that use vulgarity and violence as a form of humor. Video games feature graphic war scenarios or bloody street fights that encourage players to kill opponents in order to move to the next level of the game. Studies show children tend to mimic violent behavior when it comes to conflict resolution. The exposure to violence has had an affect on children. The effects range from aggression to various levels of anxiety. The constant exposure to violence often perpetuates that the world is an unsafe place full of mean people.References Berkowitz, B. (in press). Most teens play violent video games, study says. The Washington Post. Retrieved August 15, 2011, from www. lionlamb. org/news_articles/Washington_Post_Grand_Theft. htm Hoerrner, M. , & Hoerrner, K. (2006). Video Game Violence (vol. 15 ed. ). : Child Welfare League of Amreica. Simmons, G. (2008). Does Violent Media Cause Aggression?. Retrieved August 15, 2011, from www. manageangerdaily. com Surgeon General (2001). Youth Violence. Retrieved August 15, 2011, from http://www. surgeongeneral. gov/library/youthviolence/

Thursday, August 29, 2019

Education as discussed by Jon Spayde Essay Example | Topics and Well Written Essays - 750 words - 2

Education as discussed by Jon Spayde - Essay Example Spayde (1998) further adds that formal training is a vital necessity, however power and class simultaneously plays significant role in the sector of education. For instance, the graduates from world class universities like Stanford and Harvard would be offered the designations at workplace to prepare the work schedules for those who have acquired their degree from a not so famous, regional college. The eminent journalist and novelist, Earl Shorris (Spayde, 1998, p.67) realized the flaws of the modern educational system and took initiative for starting up an Ivy League adult education course which was meant for the â€Å"Asians, whites, blacks and Hispanics† (p.67). On the first day of his lecture, Shorris (Spayde, 1998, p.67) addressed his students and let them know that â€Å"humanities† is not just a subject to be studied by the Rich strata of the society. The term â€Å"Humanities† embraces the entire world and its people. The concept of humanities teaches the students how to live, how to think and how to enjoy life. The subject enriches the readers by providing them a new perspective towards life. Spayde (1998) further recognizes several misconceptions about the term â€Å"education†. ...suitable for fighting the â€Å"global competitiveness† but Spayde (1998) states that despite of possessing specialized skills, these contemporary graduates lack â€Å"intellectual breadth† (p.68) which can only be learnt by the practice of humanities. The professor of environmental studies of Oberlin College defines the recent trend of education as â€Å"fast knowledge† (p.68) which is mainly imparted through the means of information technology. He claims that â€Å"Slow knowledge† (p.68) is much essential for saving the earth from the environmental disasters. Thus in the process of imparting â€Å"fast knowledge†, the education system is generating a bunch of head filled machines (human beings) with little int ellect and creativity. In this context, Goethe stated â€Å"people cannot learn what they do not love† (p.69). Spayde (1998) in the initial parts of his essay mentioned that the entire world is a learning place and the same idea has been reestablished throughout the writing. In the words of Elizabeth Sutton Lawrence, â€Å"ancient Greek education came largely from firsthand experience†¦Ã¢â‚¬  (p.69) which means unless there is practical knowledge, the theory won’t turn out to be helpful and education is nothing but knowing what’s happening around us. Education is the means through which people learn to be alert. Education must inform a person about the changes which took place in the history and it must remind them their roots. Therefore, it can be concluded that training create machines while humanities create human beings.

Wednesday, August 28, 2019

Ameican wilderness Essay Example | Topics and Well Written Essays - 1000 words

Ameican wilderness - Essay Example In the given paper will discuss the records of the two governors of early American colonies. William Bradford (1590-1657) is known as an American colonial ruler and a Pilgrim head. He became famous due to great number of facts. The most important achievements of Bradford are the foundation of Plymouth Colony and the establishing peaceful relations with Native Americans (Perkins, 2006). The record of William Bradford tells us about the Pilgrims’ arrival in 1620: â€Å"being thus arrived in a good harbor and brought safe to land, they fell upon their knees & blessed ye God of heaven, who had brought them over ye vast & furious ocean, and delivered them from all ye perils & miseries thereof, again to set their feet on ye firmer and stable earth, their proper element† (Bradford (Edited by Samuel Eliot Morison, 1967) Their primary goal was to find a place where they would become independent in their religious belief. Pilgrims considered Virginia to be a right place for them. However, they arrived in the place where there was no government, so they had to form it. M ayflower Compact, a document created by Pilgrims, became a record of the new laws and William Bradford was appointed as a leader. From the Bradford’s record we find out that the new conditions differed much from the life the Pilgrims got used to. It was very difficult for people to survive the first winter, which was extremely cold. Bradford understood that the help of Native Americans was essential, so he established the agreement with the Wamponoag tribe head. This tribe was one of the friendly tribes, which helped new Americans adopt to the new life. Bradford was the organizer of the first Thanksgiving Day held in order to thank Native Americans for their help. Bradford wrote in his records, that â€Å"†¦and no marvel if they were thus joyful, seeing wise  Seneca  was so affected with sailing a few miles on ye coast of his own  Italy; as he affirmed, that he had rather

Tuesday, August 27, 2019

Human resource management Essay Example | Topics and Well Written Essays - 1500 words - 3

Human resource management - Essay Example One such academician is Caroline Lloyd. In her article "Training and development deficiencies in high skill sectors" (2002), Lloyd raises concerns over the lack of training and development, and its impact on the UK’s competitiveness in the new knowledge economy. How grave the situation is, and what implications do Lloyds concerns have on the future of the UK labour market shall be analyzed in the following discussion. In Lloyds article, she presents the thesis that there is an acute need for emphasising on centrality of skills and training for the UK to compete in the new knowledge economy. Companies need to create learning environments so that employees will be able to adapt to the changing work requirements. This can be achieved through internal training and continuous vocational training. However, the current work environment does not meet these requirements. There are two explanations for the lack of training and development in organisations. Lloyd claims that one reason could be the market failure to provide individual training. This could be improved by providing a central incentive program for training employees, motivation for employers to develop their human capital and set up of best practice to influence employer behaviour. The second reason, as other academics provide, is because the UK is a relatively low skill economy. Employers are not competing in high end products in standardized markets. For this reason they are not motivated to develop their workers for higher progression. To alter this status quo of skill deficit, the government needs to implement policies to restructure the market and industries By using two companies from high value-added product markets, Lloyd establishes that despite the companies success in their product markets, they are constrained by their industrial environment. They are not motivated to invest in training and development, or set best practice standards in

Monday, August 26, 2019

Self Concept Essay Example | Topics and Well Written Essays - 750 words

Self Concept - Essay Example It helps the child in building a good relation with his family and fellows around. So it could be said that it is a mental understanding or the knowledge of one's own existence and personality. Few physical and social attributes affect the personality of a person along with the social attributes. These attributes affect the attitude, habits and thinking of a person. During a lifetime, as a child the self-concepts are not so visible and they can get change as well with the passage of time. But as he grows older the self-concept becomes more incorporated and his psychology and social life becomes clearer and he can be judged better on the base of his attitude and habits and more psychological attributes. The self-concept of a person can be influenced by the sense of identity and other features, which affect the self-concept of a person, are the opinions that are being shared by the other people around, that what they think actually about us. The other things, which affect the self-concept, is the comparisons and similarities which are there between us and the other people around us. How much are we similar to them or how much are we different from them. Gergen (1965) showed in his study that the self-concept is affected by the reaction of other people and people cannot talk honestly about themselves. He conducted an interview with few people and he came to know that people cannot talk about themselves and what they talk usually reflect the views which people posses about them. And very few people rated themselves accurately, most of them rated themselves according to the perceptions of their friends and families. Here, we can look at the Ekman's six universal emotions, which are same all over the world and people from different regions posses, these emotions in the same way. The emotions are happiness sorrow anger disgust surprise As we look at the above listed events, these are the events, which lead people to shape their self-concept. In happiness, a person is sometimes out-of-control and it affects the normal mindset of the person. So at that time the person react in a way, which helps him understand that what do he or she actually wants to do and they do it without any boundary. The other situation is the state of sorrow, where a person can loose the hope and can go for anything, which he or she cannot think of doing in any normal circumstances. This event gives a real opportunity to a person to judge his self-concept and to get a clear vision of his weakness and strengths as well. The other event is the anger - which is an important event. If a person is able to control his anger, he can easily do anything in the world. Controlling anger is important because during this state of mind, a person can do anything reversible and it is an important event to judge someone's self-esteem and self-concept. Fourth event is the disgust; a stable mind is needed to cope in this state. This event is also an important event and it helps in getting knowledge about the one's own positive and negative points. The fifth and last event is the surprise. Surprise can be positive as well as the negative. The reaction of a person towards the surprise, whether a positive

Sunday, August 25, 2019

Paraphrasing Essay Example | Topics and Well Written Essays - 250 words - 35

Paraphrasing - Essay Example suffering from any kind of condition that would deter her from making her personal decisions, hence it is inappropriate for the healthcare experts to push Ida to be treated if she is not interested, neither is it appropriate to let the family persuade her, nonetheless, it might be very useful for this matter to be talked about with family members so as to ascertain if Ida is ok with it. As healthcare experts, they are tied by several ethical as well as legal laws surrounding privacy and human rights and in this case it is essential for them to be adhered to. 3. If I were a mature person, ‘What is the issue with you?’ would appear very rude, disrespectful, as well as very negative, and the answer if there was one would be much closed. Nevertheless, if someone were to ask me, ‘What matters to you?’, this according to me is an incredibly positive question since it is extremely open and permits an individual to experience like what they value is esteemed and that there is consideration and respect for their

Saturday, August 24, 2019

Applying International Trade Concepts simulation and economics Research Paper

Applying International Trade Concepts simulation and economics - Research Paper Example Consequently, parties to an international trade require a globalized perspective and an approach that can manage the complex regulatory environment of international trade. The diversity challenge also extends to culture that require cultural sensitivity, cultural awareness, and collaborative measures for effectiveness. These issues are however absent or are less significant in domestic trade environments. International trade regulations also form another issue in the trade because of required compliance. Parties must therefore have knowledge diverse regulatory frameworks (Selivanova, 2011). Economic environment is another significant issue that surrounds international trade. Factors such as an economy’s gross domestic product, â€Å"inflation, per capita income, and disposable income† are significant to viability of a business in an economy and in comparative analysis to determine the best economy to conduct business in or with which to conduct business (Singh, 2009, p. 43). Political environment is another issue affecting international trade, includes factors such as stability and perception towards foreigners, and determines a country’s level of attractiveness to investors. Availability of technology and of resources is another issue surrounding international trade. A party to international trade will therefore consider these factors before making a decision to venture into international trade and on which location to

What I've learned from men by Barbara ehrenreich Essay

What I've learned from men by Barbara ehrenreich - Essay Example I don’t agree when she said that we may be able to learn from men what to do with anger (227), as women have long since learned to express anger in a civilized way, positively producing the desired effect, making men realize that women are able to stand for themselves. That does not lessen them as women. Instead it makes them women with substance. Women can be very aggressive but not rude, acknowledging their talents, abilities, skills and success with humility. Expressing oneself nicely rather than looking and waiting for a fight, makes a person better understood and listened to. Women today acknowledge that having education, firm character, belief in oneself and humility, do not make them less of a woman, but rather leads to essentially being a lady. For me being ladylike empowers a woman in getting what she wants. I believe that how you act and treat others determines how others act and treat you. Ehrenreich, Barbara. â€Å"What I’ve Learned From Men† From Idea to Essay 2009: A Rhetoric, Reader, and Handbook. McCuen-Metherell, J.R. and Winkler, A. Boston, MA: Wadsworth, Cengage Learning, 2009. 224-227. Google Books. Web. 5 March

Friday, August 23, 2019

Incidnets In The Life of a Slave Girl by Harriet Jacobs Essay

Incidnets In The Life of a Slave Girl by Harriet Jacobs - Essay Example Due to the efforts of Jacobs’ autobiographer Yellin and the discovery of Jacobs’ letters with many abolitionists, the authenticity was established. Harriet Jacobs was not a proficient writer indeed. However, she had a story to tell and she worked at developing writing skills. In already 1858 she finished the manuscript of the book which was further proofread by L. Maria Child and published. The first sentence of the narrative makes us aware that the story is autobiographic. The personal story of the author served the basis of Incidents in the Life of a Slave Girl. The Jacobs’s autobiographer Yellin confirmed that events of the Incidents by Linda Brent coincided with the key events of Jacobs’ life - the suggestion earlier voiced by Amy Post. The facts of life of the main character and the author are identical and one can easily track them. The similarities of Linda’s early childhood in the Incidents and Harriet Jacobs’s childhood are the death of the mother which makes her aware of the slave status, then the death of the mistress who cared for her, her purchase by the mistress’ sister for five-year-old daughter, the death of the father, etc. Later when Linda Brent’s mistress was married to Dr. Flint (Dr. James Norcom in real life), Linda was haunted by him. She desperately tried to escape Dr. Flint and entered intimate relations with Samuel Tredwell Sawyer (Mr. Sands in the narrative) and bore two children for him - Joseph and Louisa Matilda (Ben and Ellen in the narrative). The other vivid biographic feature depicted in the story is 7 years ‘imprisonment’ of Linda in her grandmother’s attic to avoid abuse of Dr. Flint. Incidents in the Life of a Slave Girl is fundamental work which changed the traditional view about the slave narrative which had been primarily written by male authors. This shift allowed emphasizing issues of family, womanhood and sexuality in a different light. The standards of womanhood which

Thursday, August 22, 2019

Aci Financial Statement Essay Example for Free

Aci Financial Statement Essay The companies are now preparing this statement as an integral part of their financial statements. This paper examines empirically the current practices followed by sample companies in preparation of cash flow statement and concludes that the sample companies are in line (with few exceptions) with the requirements of International Accounting Standard (IAS)-7 or Bangladesh Accounting Standard (BAS)-7. It also proposes some suggestions for improving the presentation of the statement Key words: Cash flow statement, IAS/BAS, Listed Company, Disclosure. Introduction The purpose of a cash flow statement is to provide information on the cash flow from a company’s operating, investing and financing activities to enable the users of its financial statements to evaluate the ability of the company to generate cash and to use the historic cash flows to predict future cash flows. The cash flow information enhances the comparability of the operating performance by various companies, because it eliminates the effects that arise from the use of different accounting treatments for the same transactions and events. The use of cash flow information is gaining importance in the analysis of financial statements (Epstein 1991; Yap 1997; Jones and Widjaja 1998; Previts and Bricker 1994). Cashflow information is considered less open to manipulation than information on earnings, because it is based on the actual receipt and payment of cash only and not on the accrual and other accounting principles. Rees (1995:75) adds that the cash flow statement can be more informative than the other statements. However, he literature on the cash flow statement indicates that there are grey areas in cash flow reporting that are open to various interpretations (Everingham and Watson 2002). The perceived simplicity of the cash flow statement may therefore create synthetic confidence in the reliability of companies’ cash flow reporting and the comparability of various companies’ cash flow information. The acceptance of IAS-7: The Cash Flow Statement has added a new dimension to the preparation and present ation of financial statements in Bangladesh. This paper is an attempt to investigate into the state of cash flow reporting by the listed Bangladeshi * Lecturers, Department of Business Administration, ASA University Bangladesh 210 ASA University Review, Vol. 6 No. 2, July–December, 2012 Textiles and Clothing companies in general. The focus is not on the quality of the reporting of the companies but rather on what the reporting levels are in general. Objectives of the study The major objectives of the study are as follows: 1. to identify the current practice of cash flow statement of Pharmaceutical companies in Bangladesh. 2. o provide present cash flow statement format, structure and reporting on the basis of information provided in the annual reports of the selected listed Pharmaceutical companies in Bangladesh. Methodology of the study The study was conducted in accordance with secondary information obtained from various sources. The overview of standardization of financial reporting and the regulatory framework has be en based on laws, regulation, and guideline and also on various published sources of information taken from International Accounting Standard Board (IASB) and Bangladesh Accounting Standard 7 (BAS 7). A limited survey has also been made covering a total of 12 Pharmaceutical companies’ annual reports (2009) enlisted in Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE). These are selected on the basis of convenience sampling procedure. In order to make the study more revealing it also covers some research articles, textbooks, publications and web sites of various accounting bodies. Limitations of the study 1. Applied non profitability techniques have been used. 2. Due to limitation of the extensive materials, books and previous studies in Bangladesh literature review could not be extensive. 3. This study consists of only 12 listed Pharmaceutical companies due to time and resources constraints. Literature review Cash flow statement: A historical surroundings/background Cash flow Accounting (CFA) was the main system of accounting up to beginning of the 18th century (Watanabe, Izumi: The evolution of Income Accounting in Eighteenth and Nineteenth Century Britain, Osaka University of Economics, Vol. 57, No. 5, January 2007, p. 27-30). Till then, accounting allocation and profit measurement were relatively unimportant; the profit and loss account being used to close off ledger accounts at each period end. However, with the advent of concept and practices of business continuity, periodic measure and statement of financial position began to grow. Thus the basis of cash transaction becomes foundation for the allocation based systems of accounting today. Although there has been a reasonably sustained interest in fund flow statements (based on allocated accounting data) since the beginning of the twenty century, CFA appears to have received little or no support from accountants until the early 1960s. At that time there was little concern over the use of ‘cash flow’ data in the financial analysis- cash flow being interpreted as ‘profit plus depreciation (. Winjum, J. o, 1972). In 1961 AICPA recognized the importance of fund statement by publishing Accounting Research Study (ARS) Cash Flow Statement Disclosures in Pharmaceutical Companies 211 NO 2â€Å"Cash flow analysis and fund statements†. Before that, accountants had prepared funds statements primarily as management report. The Accounting Principles Board (APB) responded in October 1963 by issuing APB Opinion NO. : â€Å"the statements of and application of funds†, which recommended that a statement of sources and application of funds be presented on a supplementary basis. Because of the favorable response of the business community to this pronouncement, the APB issued Opinion No. 198: â€Å"Reporting changing in Financial Position† in March 1971. This opinion required that a statement of changing financial position be presented as a basic financial statement and be covered by the auditor’s reports. In 1981 the Financial Accounting Standard Board (FASB) reconsidered fund flow issues as part of the conceptual framework project taken in 1976. At this time the FASB decided that the cash flow reporting issues should be considered at the standard level. Subsequent deliberation resulted in Statement of Financial Accounting Standard (SFAS) No. 95: ‘Statement of cash flows’ in Nobember1987 (Weygandt, Kieso, Kimmel 1998: 1936). Fund flow statement Vs Cash flow statement Both fund flow statement and cash flow statement serve as a fundamental parts of the financial statements. In 1961, the AICPA issued ARS No. 2, â€Å"Cash Flow Analysis and the Fund Statements† which recommended that a fund statement covered by auditor’s opinion be included in companies financial reports. According to paragraph 5 of Preface to Statement of International Accounting Standard [approved by the IASC Board in November1982 for publication in January 1983 and supersedes the preface published in January 1975 (amended March 1978)], â€Å"the term ‘financial statements’ covers balance sheets, income statement or profit and loss accounts, statements of change in financial position, notes and other statements and explanatory materials which are identified as being part of financial statements† (IASC, 2000:32). As per paragraph 7 of framework for the Preparation and Presentation of Financial Statements (approved by IASC Board in April 1989 for publication in July 1989): â€Å"A complete set of financial statement normally includes a balance sheet, an income statements, a statements of change in financial position (which may be presented in a variety of ways, for example as a statement of cash flow or a statement of fund flows) and those notes and other statements and explanatory materials that are an integral part of the financial statements† (IASC : p. 3-44). As per paragraph 4 of the previous IAS 7 (October 1977), statements of change in financial position, the term ‘ funds’ referred to cash, cash and cash equivalents or working capital (IFAC, 1992: p. 813). Funds provided or used in operation of an enterprise should be presented in the statements of changes in financial statement separately from other sources and uses of fund. Unusual items, which are not part of ordinary activities of the enterprise, should be separately disclosed (IASC: Para 21). But many users of financial statements consider current practices of reporting fund flows as confusing because too much information is compressed in the statements of change in financial position, and because no single definition has been established (Mosich and Larsen, 1982; p. 935). In order to develop a conceptual framework for financial accounting and reporting, the FASB issued in December 1980 a discussion memorandum â€Å"reporting Fund flow, Liquidity and Financial Flexibility† which was issued for the following reasons: (1) for assessing future cash flow, and (2) current practices regarding the reporting of funds flow information are not entirely satisfactory. As a result of deliberation, FASB issued SFAS NO. 95 ‘Statements of Cash Flow’ in 1987. The statements require the inclusion of statements of Cash Flows rather than a statement of Change in Financial position when issuing a complete set of financial statements 212 ASA University Review, Vol. 6 No. 2, July–December, 2012 which was made effective for annual periods ending after July 15, 1988. The major requirements of the statements are of the following two areas: Basis of Presentation: The statement must focus on cash receipts and payments and must explain the change in cash plus cash equivalents. Classification of cash flows: Cash flows are to be classified according to operating, investing and financing activities. The basis of such classification is derived from the financial theory, which state that the enterprise derives the cash used for investing activities and settlement of outstanding financial obligation in an accounting period from internal and external sources. Internal cash sources emanate from the net cash generated from current operation and perhaps disinvesting and depletion of cash resources at the start of the period. External cash sources come from financing activities such as borrowing and receiving cash from the sale of equity shares to existing and new shareholders (Wallace et,al). Benefits of Cash Flow Information The information in a cash flow statement helps investors, creditors, and others to assess the following aspects of the firm’s financial position. Such statements serve as a mechanism for predicting the ability to generate future cash flows for the investors, creditors and others. This enables managers or management to plan coordinate and control financial operation in an effective manner. It gives an indication of the relationship between profitability and cash generating ability thus of the quality of the profit earned. It furnishes information to the management regarding the entities’ ability to pay dividend and meet obligations. Analyst and other users of financial information often, formally or informally, develop models to assess and compare the present value of the future cash flow of entities. Historical cash flow statements could be useful to check the accuracy of past assessment (ACCA Text book part 2. P. 324). It is free from manipulation and is not affected by subjective judgments or by accounting policies. Such a statement dictates situations when a business has made huge profit but has run out money or it has sustained loss but has enough cash availability. The extent of cash generated from operational activity and external finance in order to meet capital, tax, and dividend requirements can be obtained from such statements (Lee, T. A: 1972:27-36). It aids in the evaluation of risk, which includes both the expected variability of future return and probability of insolvency or bankruptcy ( Hendrickson, Eldom. S, 1982: 237). Such statements reveal the capability of an enterprise to pay its short obligation as and when due to the lenders. A cash flow statement in conjunction with a balance sheet provides information on liquidity, viability, and adaptability. The balance sheet is often used to obtain information on liquidity, but the information is rather incomplete for this purpose as the balance sheet is prepared at a particular point of time. Cash Flow Statement Disclosures in Pharmaceutical Companies 213 It may assists users of financial statements in making judgments on the amounts, timing and degree of certainty of future cash flows. This statement provides information that is useful in checking the accuracy of past assessment of future cash flows and in examining the relationship between profitability and net cash flow and the impact of changing price (IAS 7: Para 3 4). Information on cash flows classified by three groups of activities (Operating, investing and financing) that al low users to assess the impact of those activities on the financial position of the enterprise and the amount of its cash and cash equivalents. This information may also be to evaluate the relationship among those activities (IAS 7: Para 11). This statement is of special importance in assessing future cash flows, quality of income operating capability, financial flexibly and liquidity, and information on financing and investing activities. Using cash flows from operating activities from the cash flow statements, different ratios such as liquidity, ratio, solvency ratio, and profitability ratios can also be calculated to evaluate an enterprise’s liquidity, solvency, and profitability. Aziz uddin and Bala, 2001: p. 14) Overview of Cash flow statement The cash flow statement explains the changes that have occurred in the company’s cash and cash equivalents during the year by classifying the cash flows in its operating, investing and financing activities. The statement must focus on cash receipts and payments and must explain the change in cash plus cash equivalents. The classification is done in a way that is mos t appropriate to the company’s business. The following are the definitions of the components of the cash flow statement: Cash: cash on hand and demand deposits Cash equivalents: short term, highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value. Operating activities: the principal revenue-producing activities of the enterprise and other activities that are not investing or financing activities Investing activities: the acquisition and disposal of long-term assets and other investments not included in cash equivalents. Financing activities: activities that result in changes in the size and composition of the equity capital and borrowings of the enterprise (Epstein, p. 93). Objective and Scope of IAS 7 Information about the cash flow of an enterprise is useful in providing users of financial statements with a basis to assess the ability of the enterprise to generate cash and cash equivalents and the needs of the enterprise to utilize those cash flows. The economic decision taken by users requires an evaluation of the ability of an enterprise to generate cash and cash equivalents and timing and certainty of their generation. The objective of IAS 7 is to require the provision of information about the historical change in cash and cash equivalents of an enterprise by means of a cash flow statement that classifies cash flows during the period from operating, investing and financing activities. An enterprise should prepare a cash flow statement in accordance with the requirements of IAS 7 and should present it as an integral part of its financial statements for each period for which financial statements are prepared. Users of an enterprise’s financial statements are interested in how the enterprise generates and uses cash and cash equivalents. This is the case regardless of the nature of the enterprise activities and irrespective of whether cash can be viewed 214 ASA University Review, Vol. 6 No. 2, July–December, 2012 as the product of the enterprise, as may be the case with a financial institution. Enterprises need cash for the same reason however different their principal revenue- producing activities might be. They need cash to conduct their operations, to pay their obligations and to provide return to the investors. Accordingly this standard requires all enterprises to present a cash flow (Para 1 3). Presentation of Cash flow statement under IAS 7 Cash and cash equivalent: The definition of cash and cash equivalent are central to the preparation and interpretation of cash flow statements. Cash consists of cash in hand and demand deposits, coins and notes of an organization, etc. In our country deposits in postal accounts may be termed as cash (Cooper and Ijiri, 1984: 88; Ghosh, 2001). Cash equivalents are short-term, highly liquid investments that are readily convertible into known amount of cash and which are subject to an insignificant risk of change in value. According to the definitions of paragraph 6 of IAS 7 cash comprises cash in hand and demand deposits; usually ‘cash on hand’ includes currency, notes, and coin in the cash box of the enterprise. It also includes prize bond, negotiable money orders, postal orders, and under posited checks, bank drafts or pay- order. Demand deposits refer to deposits in checking accounts in banks and other financial institutions that may be withdrawn without notice usually subject to deduction of outstanding check. Thus cash equivalents – 1. are short-term investments but the ‘term’ ‘short’ not clearly specified, although a period of three months and less is suggested to be taken as short term period. 2. are highly liquid investments. Here ‘liquid’ means having in a situation where cash equivalents are available in sufficient amount to meet obligation of payments. . are investments that are both: (a) readily convertible, to known amounts of cash and (b) subject to an insignificant risk of change in value. According to SFAC No. 95, the risk categorically refers to risk of change in interest rate. The short-term investments are so near their maturity that they represent insignificant risk of changes in interest rate. Examples include treasury bills, commercial papers, a nd money market funds purchased with cash that is in excess of immediate needs. However, although by definition, cash equivalents refer to short term highly liquid investments, they are usually held for the purpose of meeting short term cash commitments rather than for other purpose. For an investment to qualify as a cash equivalent it must be readily convertible to a known amount of cash and be subject to insignificant risk of change in value. Therefore an investment normally qualifies as a cash equivalent only when it has a short maturity of, say, three months and less from the date of acquisition. Equity nvestments are excluded from the cash equivalents unless they are, in substance, cash equivalents, for example in the case of preferred share acquired within a short period of their maturity and with a specified redemption date (Para 7). Cash Flow Statement Disclosures in Pharmaceutical Companies 215 Preparation of Cash flow statements IAS 7 requires cash flows to be classified into operating, investing, and financing activities. Example of cash flows by cate gory Operating Activities Inflows Receipts from customers Outflows Payments to suppliers Advance deposits from customers Wages and salaries to employees Income tax refunds Income tax payments Interest received on customers’ notes or Other tax payments accounts Dividends and interest received from Interest paid on bank debt or bonds outstanding and investments and included in determining net included in determining net income income Investing Activities Cash received from sale of capital assets Payments for purchase of capital assets Cash from sale of debt or equity investments Cash flows capitalized as intangible assets, such as:  · development costs  · start-up costs  · capitalized interest  · exploration Costs Collection of principal on loans to others Purchase of debt or equity securities of others Interest and dividends received on investments Loans extended to others and not included in determining net income Financing Activities Net proceed of issuing debt or equity securities Payment of principal on bonds or bank loans Cash proceeds received from ba nk loans Purchase of the entity’s own shares Interest paid on bank debt or bonds outstanding and not included in determining net income Dividends paid to shareholders Variations in Reporting activities for Cash flows A. Operating or Financing activities Transactions with different categories included in cash flows are classified in a different manner. According to IAS 7, Para 12, â€Å"A single transaction may include cash flows that are classified differently. For example, when the cash repayment of a loan includes both interest and capital the interest element may be classified as operating activities and the capital amount is classified as financing activities†. B. Operating or investing and financing activities Some cash flows may be classified as arising from any activities such as ‘interest’, ‘dividend’ ‘income tax’. The detailed provisions of these types are as follows. 216 ASA University Review, Vol. 6 No. 2, July–December, 2012 Interest: a. For a financial institution, interest paid and interest received are usually classified as operating cash flows (para 33). b. For other enterprise, interest paid and interest received may be classified as operating cash flows because they enter into the determination of net profit or loss. Alternatively, interest paid may be classified as financing cash flows, because they are costs of obtaining financial resources. Interest received may be classified as investing cash flows, because they are returns on investments (para 33). Dividend: a. For a financial institution, dividends received are usually classified as operating cash flow (Para 33). b. For other enterprise, dividends received may be classified as operating cash flows because they enter into the determination of net profit or loss. Alternatively dividend received may be classified as investing cash flows, because they are returns on investments (para 33). c. Dividend paid may be classified as financing cash flows, because they are costs of obtaining financial resources. Alternatively dividend paid may be classified as component of cash flows from operating activities in order to assist users to determine the ability of an enterprise to pay dividend out of operating cash flows (para 34). Income tax: a. Taxes on income arise on a transaction that gives to the cash flows that are classified as operating, investing, and financing activities in cash flow statement. While tax expense may be readily identifiable with investing or financing activities, the related tax cash flows are often impracticable to identify and may arise in a different period from the cash flows of the underlying transactions. Therefore taxes paid are usually classified as cash flows from operating activities. However, often it is practicable to identify the tax cash flow within individual transaction that gives rise to cash flows that are classified as investing or financing activity as appropriate. When tax cash flows are allocated over more than one class of activity, the total amount of taxes paid is disclosed (Para 36). In the light of SFAS 95, â€Å"Transaction that enter into the determination of net income† are defined as operating activities and hence, interest received or paid, dividend received and taxes on income are rigidly treated to arise from operating activities. Dividend to stakeholders are treated as cash outflows classified as financing activities (Keiso and Weygandt, 1998: 1275-76) Cash flow statement Practices in Bangladesh Regulatory Framework, in the eyes of the Companies Act 1994 (Act no. 18 of 1994): According to Section 183 of the Companies’ Act 1994 (which came into effect from 1 January 1995), a company is required to present balance sheet, profit and loss account (income and expenditure account, in case of non profit companies). Under section 185, the balance sheet and the income statement have to be prepared according to the forms set out in Part –1 and Part –2 of Schedule XI respectively under which information on consecutive two years (concerned year and Cash Flow Statement Disclosures in Pharmaceutical Companies 217 preceding year) are to be provided. However according to note (g) of the general instruction for preparation of balance sheet (given in part –1 of schedule XI after the horizontal format of the balance sheet), â€Å"a statement of change in financial position shall be included as an integral part of the financial statements, and shall be presented for each period for which the profit and loss account is prepared†. However no specific format of cash flow statement has been prescribed in Companies Act 1994. In the light of the Security and Exchange Rule 1987 (S. R. O No. 237-l/87 dated on 28 September 1987): Under the provision of rule 12 (1) of the Securities and Exchanges Rules (SER) 1987(amended by the section notification No. SEC/ Section 7/SER/03/132 dated 22 october1997 published in the official gazette on 29 December 1997), the annual report to be furnished by an issuer of listed security shall include â€Å"a balance sheet, profit and loss account, cash flow statement and notes to the accounts collectively hereinafter referred to as the financial statement’. In the part III of the Schedule of the SER 1987, issues relating to interest paid on short-term borrowing, interest and dividend received income taxes are clearly guidelined. For example, interest paid on short-term borrowing shall be a cash outflow under operating activities; ‘interest and dividend received’ shall be a cash inflow under investing activities. And ‘interest paid on long term borrowing’ and ‘dividend paid’ shall be a cash outflow under financing activities. Under paragraph 35-36, ‘taxes on income’ should be treated as operating cash outflow unless they can be identified in financing and investing activities. Findings of the study To know the extent of cash flows statement reporting practices by Pharmaceutical companies, a survey has been conducted covering twelve annual reports (2009) (For detailed the name of the companies see Appendix-1). The major findings of the study are given below in terms of general variations in reporting and voluntary disclosure. General findings It includes the current format and structure of cash flow statement and the extent of compliance of IAS-7, followed by sample Pharmaceutical Companies in Bangladesh. All the sample companies prepare cash flow statement as required by IAS-7/BAS 7 adopted by the Institute of Chartered Accountant of Bangladesh and present it as an integral part of the financial statements. Notes to cash flow statement have been presented as part of the financial statements i n case of all the sample companies.  · The sample companies prepare cash flow statement in vertical form and shows figure of cash flows of the current year and the previous year.  · All the sample companies’ cash flow statement contains a classification of operational, investing, and financing activities.  · The sample companies did not illustrate the policy dopted in determining the formulation of cash and cash equivalents although this is required by paragraph 36 of IAS 7. 218 ASA University Review, Vol. 6 No. 2, July–December, 2012 Variation in Reporting Another objective of the survey was to determine which alternatives, permitted by IAS-7, are used most in practice by Bangladeshi pharmaceutical companies. It is found that there are not many differences between companies in their reporting of cash flow information. This is expected because the preparation of cash flow statement does not allow for many choices, differences of interpretation or different accoun ting treatments. The results are set out in table 1. Table-1 Variations in reporting [Cash flow statement (CFS)] Factors 1 Notes to CFS Options Separately, following the CFS Part of the notes to the financial statements Incorporated in the CFS Total Direct method Indirect method Total Operating activities or no interest Financing Investing activities Total Financing activities or no dividends Operating activities Investing activities Total Part of accounting policy note Nothing disclosed Total Operating activities or no tax Financing activities Investing activities Total Number of companies 0 12 0 12 12 0 12 12 0 0 12 12 0 0 12 12 0 12 12 0 0 12 2 Operating activities 3 Interest received and Interest paid 4 Dividend received and Dividend paid 5 Definition of cash and cash equivalents 6 Income tax Notes to table 1  · Refer to point 2 of Table 1. According to IAS-7 and SEC Rule 1987, the enterprises are encouraged to report cash flows from operating activities using the direct method. The direct method provides information which may be useful in estimating future cash flows which is not available under the indirect method. All the sample companies followed the direct method in reporting operating cash flows. One company (Pharmaceutical Mithun Knitting Dyeing Ltd. ) discloses cash flows from operating activities under indirect method in notes of financial statements as additional information. Cash Flow Statement Disclosures in Pharmaceutical Companies  ·  · 219 Refer to points 3 4 of Table 1. All the companies studied have shown ‘interest received and paid’ under operating activities and ‘interest paid on long term borrowing’ and ‘dividend paid’ under financing activities. Refer to points 5 6 of Table 1. All the companies studied have shown â€Å"definition of cash and cash equivalents† in the notes of accounting policy and â€Å"income tax† under operating activities. Voluntary disclosure The survey also included an examination of any additional information that is disclosed regarding the company’s cash flow which is not required by IAS-7, but which may be helpful to the user. For example, separate disclosure of cash flows increases operating capacity and cash flows that maintain operating capacity, disclosure of segmental cash flows, cash flow per share etc. The survey found no company to disclose such additional voluntary information in its cash flow statement. Conclusion and Recommendation A materially misstated cash flow statement, whether it is in terms of incorrect classification in the categories or numerical accuracy, can be misleading to the user and can lead to wrong decisions taken by the users of the statement. The survey has revealed that although sample companies prepare cash flow statement according to International Accounting Standard-7 (BAS-7), there is also a degree of non-compliance. It is, however, found that there are not many differences between companies in their reporting of cash flow information. This is expected because the preparation of cash flow statement does not allow for many choices, differences of interpretation or different accounting treatments. To make cash flow statement more informative and useful for users, the companies should disclose additional voluntary information such as cash flow per share in their cash flow statements. Items consisting of cash flows from operating, investing and financing activities should also be clarified in the notes of the financial statements. Due to the limited scope of the present study, a large number of research issues have not been attempted but are identified in the course of the study. Disclosure practices of additional items other than operating, investing and financing activities, disclosure practices differences between listed and unlisted companies, disclosure practices differences between financial and other institutions are some such potential issues for future research. 220 ASA University Review, Vol. 6 No. 2, July–December, 2012 References Annual Reports of Sample Pharmaceutical Companies Listed in Dhaka Stock Exchange and Chittagong Stock Exchange 2009. Aziz Uddin, A. B. M and Bala. , S. K. ( 2001), â€Å"Cash Flow Reporting in Bangladesh†, The Cost Management, Nov- Dec. ICMAB, p. 13. FASB Discussion Memorandum (1980), Reporting Funds Flow, Liquidity and Financial Flexibility, FASB, Stanford. Thomas H. Beechy. Joan E. D. Conrod, Intermediate Accounting, second Edition, Chpter 5, Exhibit 5-1 pp. 91 Ghosh, Santi N. (2001),â€Å"Workshop Material on IAS # 7 : Cash Flow Statements† compiled under the Institute of Chartered Accountants of Bangladesh (ICAB)Project, Development of Accounting and Auditing Standards in Bangladesh, The World Bank. Government of Bangladesh (GOB) (1994), The Companies Act 1994 (Act No. 18 of 1994). Gup, B. E. Samson, W. D. 1993. An analysis of patterns from the statement of cash flows. Financial Practice Education, 3(2):73-79. Hendrickson, Eldom. S(1982), Accounting Theory, Richard D. Irwin, Inc. , Illinois, p. 236. Hertenstein, J. McKinnon, S. 1997. Solving the puzzle of the cash flow statement. Business Horizons, 40(1):69-76. International Accounting Standards Committee (IASC) (2000), International Accounting Standards 2000 International Accounting Standards Committee, London, â€Å"International Accounting Standard IAS 7 (revised 1992): Cash Flow Statements† in pp. 139165. International Federation of Accounting (IFAC) (1992), IFAC Handbook 1992: Technical Pronouncements (New York: IFAC). â€Å"IAS 7 (October 1977): Statement of Changes in Financial Position† in pp. 812- 816. Khan, M. H. Akter, M. S. Ghosh, S. K (2005), â€Å"Cash Flow Statement Disclosures: A Study of Banking Companies in Bangladesh†. Available at www. pcte. edu. in/site/OJMR/Finance/cashflow. pdf Keiso, Donald, E. and Jerry. J. Weygandt (1998), Intermediate Accounting, John Wiley Sons, Inc. New York, 9th Edition, pp. 1275-76. Lee, T. A. 1982. Cash flow accounting and the allocation problem. Journal of Business Finance Accounting, 9(3):341-352. Lee, T. A (1972), â€Å"A Case for Cash Flow Reporting†, Journal of Business Finance, Vol. 4, No. 2, pp. 27-36 as quoted in Studies of Accounting Theory, Steyn, B. W. Hamman, W. D. 2003. Cash flow reporting: are listed companies complying with AC 118? Meditari, 11:167-180. Weygandt, Kieso, Kimmel, Accounting Principles, 9th edition, John, Wilely and Sons, Inc, pp. 732-733 Wallace, R. S. O. and Choudhury, M. S. I. And Pendelbary, M. 1997), â€Å"Cash Flow Statements: An International Comparison of Regulatory Positions†, The International Journal of Accounting, Vol. 32, No, 1, pp. 1-22 Cash Flow Statement Disclosures in Pharmaceutical Companies 221 Appendix-1 List of the twelve Pharmaceutical companies studied. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. Gla xcoSmithKline Bangladesh Limited (2009) The IBN SINA Pharmaceutical Industry Ltd. (2009) BEXIMCO PHARMACEUTICAL LTD. (2009) ORION INFUSION LTD. (2009) ACI Formulation Limited (2009) Ambee Pharmaceutical Limited (2009) Square Pharmaceutical Ltd. (2009) Libra Infusions Limited (2009) BEACOM Pharmaceuticals Limited (2009) Rahman Chemicals Limited (2009) Renata Limited (2009) Therapeutics (Bangladesh) Limited (2009)

Wednesday, August 21, 2019

A Literature Review Regarding Virus Protection

A Literature Review Regarding Virus Protection Although most of the people think that there is nothing to do a research in the area of computer virus protection, there are more and more things to research as everyday more than 200 computer malware are created by the virus creators. In the modern world most of the people are using computers in their day-to-day activities. So it is more important to have knowledge of computer viruses and protecting the computers from those viruses. begin{sloppypar} end{sloppypar} Identifying what the computer viruses are, their types, the threat to the computer from computer viruses, the present situation of computer viruses and prevention mechanisms from the computer viruses are the objectives of this literature review. end{abstract} section{Introduction} As the usage of the computers and creation of computer viruses are increasing all over the world, every computer user began to search about the computer viruses. But there are other various kinds of software like worms and Trojans that can do some harm to the activities of the computer other than the viruses. Although they are different from computer viruses, the computer users are used to call those other types of malicious software viruses. begin{sloppypar} end{sloppypar} Though there is no any real definition for the computer viruses, they can be considered as special kind of software programs that have the ability of self replicating over executable files reside in the computer and do some interruption to the activities of the computer. As the computer viruses are spreading only when the executable files are executing, the viruses can effect only for the executable files in the infected computer. So most of the time the files with .EXE , .COM , .BAT , .SYS extensions are infected. A computer virus can be written with a few lines of programming codes in any programming language. Any person who has a personal computer can write a computer virus and send it to another computer or system far away from the computer which produced the virus through a network or any disk. These viruses can destroy any massive computer system or network easily within few seconds. begin{sloppypar} end{sloppypar} Computer viruses which do less harm to the computers are only spreading over the computers and computer networks. They do not do any dangerous harm to the computers other than just replicating them in the system. The most dangerous type of viruses effect to the computers by changing the content of the files, partially of completely deleting the files reside in the computer. The data stored in the computer can be lost by infecting these kinds of computer viruses. These types of computer viruses cannot be catch by examining the files in the computer. But only the destruction they have done to the computer will remain. So capturing these viruses is the more difficult thing. begin{sloppypar} end{sloppypar} Preventing or protecting from computer viruses not only mean installing an anti virus program and scan the files by getting use of the anti virus program but also awareness of the computer viruses or malicious software and practicing best practices when using a computer. But most of the time most of the computer users trust various anti virus programs to protect their systems against computer viruses. Various anti virus programs use various methods or procedures to capture viruses and other types of malicious software. But with any of the computer protection method, they cannot fully protect the computer from computer viruses or malicious software. The next session of this review is considered about what are the types of Malware and how they infected to computer system. cite{1} newpage section{Types of malware} There is no standard method to categorize viruses into various types. But when we consider current situation of computer viruses in the world we can basically declare types of malware as follows, begin{itemize} item Trojan item Worms item Viruses end{itemize} subsection{Trojan} Trojan viruses do not reproduce in the computer but after a Trojan virus enters into the computer they just allow the outside persons to read the files reside in the computer. Usually Trojans steal passwords and send e-mails to hackers. Then the hacker will get the control of the users account. cite{2} subsection{Worms} Worms are kind of computer viruses copy and spread over the computer networks. It does not need a host to spread. Once they multiplied in a computer, the copied viruses scan the network for further multiplying and spreading via the network.cite{2} subsection{Viruses} Computer viruses are a program, a block of executable code which attaches itself to. It overwrites or replaces some code of computer program without knowing of computer user. A virus always needs a host program to reside. The virus is in its idle state till the host program it resides executes. When the host program executes the bock of code of the virus also executes and searches for another location which it can infect. The computer viruses can be categorized into number of categories like Resident Viruses, Direct Action Viruses, Overwrite Viruses, Boot Viruses, Macro Viruses, Directory Viruses, Polymorphic Viruses, File Infectors, Companion Viruses, FAT Viruses. cite{2} begin{itemize} item Resident Viruses Permanent viruses reside in the RAM item Direct Action Viruses This type of virus spreads and does its work when it is executing. item Overwrite Viruses These viruses delete the content of the files reside in the computer. item Boot Viruses This kind of virus infects to a boot sector of the hard drive or floppy. A boot virus can be infected to the boot sector of the computer by booting the computer from an infected floppy disk. item Directory Viruses These viruses change the path of a file. item Polymorphic Viruses These are encrypting their own code with different algorithms every time they enter into a system. item File Infectors Infect programs or executable files. They infect to a file when the program attached to it executes. item Companion Viruses These are working like resident viruses or direct action viruses. item FAT Viruses These infect to the file allocation table. item Macro Viruses This kind of virus infects to the files that have created using programs that contain macros. Currently most of the times they are affecting to Word 6, WordBasic and Excel as macros are created by WordBasic. In the present situation of the computer viruses, 15 percent of the viruses are macro viruses. On daily basis macro viruses are created by the computer users in their machines. New macro viruses are creating due to corruption, mating and conversion. Macro viruses are the most destructive kind of a virus. Most of the traditional anti virus programs are unable to detect those new macro viruses. cite{2} end{itemize} newpage section{How Viruses affect and infect to the system} begin{figure}[h] par includegraphics[bb =0 0 100 325 ]{virus.png} caption{Malware Detected by Year} cite{10} par end{figure} If the virus generation speed is greater than its death rate, a virus can easily spread within a short period of time. Figure1 shows how Malware spread with time. All the computer viruses do not activate at the time they enter into the computer. But sometimes they activate after some period of entering it into the personal computer or computer system. Some of them will never activate and some will activate and do harm to the files in the system or change the content of the files, format the hard disk, show a picture in the background. begin{sloppypar} end{sloppypar} There are lots of ways which a virus can enter into a computer. Most of the time, they spread and enter into a new computer through a computer network. With a removable media, it is possible to spread a virus. By downloading some games or software through a web site, a virus can enter into a new system. In the past there was a guarantee that the web sites do not contain viruses. But in the present situation, there is no guarantee that the web sites do not contain viruses. begin{sloppypar} end{sloppypar} Trapdoor is another common way of entering a virus into a system. Trapdoors are sometimes created by the programmers who developed the software to avoid going through the security procedure or avoid entering passwords during the period of time the system or software is developed. As a trapdoor is a way to enter into a system without entering a password, a virus can easily enter into a system through a trapdoor. begin{sloppypar} end{sloppypar} If have the attention to the new computer viruses, the code of some newly created computer viruses are encrypted so that the anti virus software cannot catch them. cite{3} section{Protection from computer viruses} To spread a virus from one computer to another, it should have the permission or ability to execute its code and do some modifications or completely delete the files other than the file the virus currently residing. According to those facts, protection from computer viruses means prevent the computer virus from copying it self to another location, the computer virus does not contain or avoid modifying or deleting the other files the computer virus does not reside. begin{sloppypar} end{sloppypar} If the content of a file has modified or edited without knowledge of the user, the user can suspect that a virus has been infected to the computer. Other than that when a virus has attacked a system, sometimes the performance of the computer can be reduced, various error messages are displayed or use some storage space from disk drives unexpectedly. begin{sloppypar} end{sloppypar} Worms normally find addresses to spread and they capture the addresses in three ways. Worms begin{itemize} item Randomly generate addresses item Find addresses in system tables item Find addresses in a program end{itemize} Protection against worms can include, begin{itemize} item Put passwords that cannot easily guess. item Remove some processes which reveal the secured data in the system. item Apply some solutions to the bugs. end{itemize} As worms are rapidly spread over networks and they are trying to overload the networks, protecting from worms include monitoring network activities and do isolation and deactivation of some parts of the network. begin{sloppypar} end{sloppypar} When it comes to protecting computers from viruses, the simplest things the user can do is always backup the data reside in the computer. But it is not a proper solution to deal with the computer viruses. As most of the computer users are now aware of the computer viruses they control write privilege to computer programs. After infecting a virus to a program since it changes the content of the file, there are some kind of software that can be used to check the content for irregular changes in its content. cite{4,12} section{Anti virus software programs} When protecting a computer from computer viruses with the help of an anti virus program, the service providers of those anti virus programs are providing their service to its clients in number of different ways. Some of the vendors or anti virus software are waiting for a request from a user for their product. After the client or the user requests, the service provider provides their service to the user. Another kind of anti virus vendor automatically downloads and installs their product into clients machine without the knowledge of the user. Some of the vendors are sending emails to the computer users mentioning the availability of their product. However some of those above mentioned ways have some ethically not relevant procedures. begin{sloppypar} end{sloppypar} Though thousands of anti virus programs, designed by programmers are there to detect computer viruses, they cannot play a perfect role in detecting computer viruses. More viruses are written for a new platform is the reason for that. To detect those new viruses, new detection technologies should be invented. There are number of computer virus detection methods. begin{sloppypar} end{sloppypar} Over some years ago, only the known viruses could be detected by anti virus programs. What those anti virus programs did were, selecting a string from known viruses and when a scan for viruses is started, anti virus program searches for files include that string and detect that file as an infected file. This method of detecting computer viruses looked only for static characteristics of known computer viruses. But as thousands of computer viruses are creating within a year, the industry people started to create anti virus programs that are detecting unknown computer viruses too. These methods are called heuristic method. begin{sloppypar} end{sloppypar} As computer virus infection has become a huge threats to who owns a computer and who uses computers. Most of the computer users are today getting the service of an anti virus program to detect malicious software or computer viruses. Getting use of an anti virus software is the most secured and popular way to protect the computers from malicious software. Anti virus programs identify the malicious software in two main approaches. begin{itemize} item They use a string matching approach to identify previously known viruses or malicious software. item The second method the anti virus programs use is capturing abnormal behaviors of any computer program running on the computer. end{itemize} begin{sloppypar} end{sloppypar} In string matching approach, the anti virus programs are getting use of a virus dictionary which contains the codes of previously known viruses. When an anti virus program starts to scan a file it refers to the virus dictionary and when it finds a block of code in the scanned file which also included in the virus dictionary, it quickly takes an action against the suspicious file. cite{5} begin{sloppypar} end{sloppypar} If an anti virus program uses capturing abnormal or suspicious behaviors, it monitors the behavior of the file which is scanning and if the file behaves abnormally the anti virus program detect the file as infected file an take an action against that. By using this method, the new viruses can also be detected. cite{5} subsection{The problem in virus dictionary method} As virus creators are now aware of virus detection methods, they are now writing the viruses so that the codes of the virus as encrypted codes when it is in a program. Otherwise they write the virus programs so that the code of itself doesnt look same as the real code of it. Because of those two reasons, the anti virus program cannot detect the infected file by matching the strings using the virus dictionary. The other problem of this method is it cannot detect a new virus which doesnt contain in the virus dictionary. subsection{The problems of detecting a virus by its behavior} As this method is searching for a suspicious behavior of the file that is being scanning, a files that shows abnormal behavior which has not been attacked by a virus or malicious software can also be detected as an infected file by the anti virus program. If the user gets an action against that file sometimes that non infected file can also be deleted. So modern anti virus programs do not use this approach to detect a virus. There are some fake anti virus software which do not clean or protect the computers. These fake anti virus software come with names which are similar to other real anti virus software. When a user sees such a fake anti virus software the user feels that this ant virus software is a real one and then he install than fake anti virus software into the computer. After installing that fake one in the computer, it displays fake messages saying there are some viruses in the computer and to remove it from the computer pay some amount of money. As these kinds of fake anti virus software are there with only the aim of earning money, the computer users must aware of that kind of fake anti virus software too. begin{sloppypar} end{sloppypar} Although there are so many anti virus software to detect computer viruses, the latest computer viruses cannot easily be caught by even the latest anti virus software programs as the code of virus is encrypted. What the virus creators do to hide the source code of the virus is encrypting the code of the virus and sends it to the computers. So the anti virus software cannot easily understand the code and they cannot catch that file as a suspicious file. Some virus creators encrypt the code and keep the key to decrypt in another file to make it more difficult for the anti virus software to find the virus. But good anti virus software, which have used good algorithms, should be able to detect those computer viruses too. cite{6,7} subsection{Most trusted anti virus software} cite{11} begin{itemize} item BitDefender Antivirus 2010 BitDefender is using advanced heuristic detection method and provides protection against online viruses, spyware,phishing scams and more. This provides protection by scanning web, IM and emails and this is capable of encrypting the IM s too. One of the new features BitDefender looking for is Active Virus Control which monitor the behavior of a file continuously. cite{13} item Kaspersky Anti-Virus 2010 Provides protection from viruses, Trojans, bots, worms and spyware. The interfaces and tools used are advanced but this provides agreat protection against most of the real threats. cite{14} item Webroot AntiVirus with SpySweeper 2010 This is a desktop anti virus package and protect the computer from viruses,trojans,worms and other number of malware. This catches the malware before the malware does any harm to the computer. cite{15} item Norton AntiVirus 2010 Uses signature based protection. However provides a new features like the proactive reputation scanning. But uninstalling the software might cause some problems as its partial uninstallation. cite{16} item ESET Nod32 Antivirus 4 Kind of desktop anti virus software. But this doesnt provide a complete security and misses some protection. This is not in the competition with other anti virus software. cite{17} item AVG Anti-Virus 9 Includes antivirus and antispyware protection. provides complette protection from harmful downloads and web cites. cite{18} item F-Secure Anti-Virus 2010 Great desktop anti virus. Has one of the most effective scan procedure and test results are shown to prove that. When installing this anti virus software, it has been automatically configured to remove the other anti virus software installed to the computer. cite{19} item G DATA AntiVirus 2011 Uses two distinct antivirus scanning engines, behavioral/heuristic protection, and even self-learning fingerprinting.This provides protection against malware spreading via emails and IM. The types of malware which are detected by this anti virus software are,phishing scams, dialers, adware, malicious scripts, Trojans, rootkits and worms. cite{20} end{itemize} section{Getting use of a firewall} The firewall is a kind of a program design to protect the computer from harmful things that are coming from the internet. Firewalls are divided into two categories as hardware firewall and software firewall. begin{sloppypar} end{sloppypar} Hardware firewalls are some kind of small hardware which can control the data coming from multiple computer systems. Software firewalls are kind of software that have the ability to block suspicious data coming to the computer from the internet. So to protect the computer from viruses and other kind of malicious software a software firewall and hardware firewall can be use. cite{5} section{Best practices to protect the computer from computer viruses} Though there are thousands of anti virus software are there, the computer users are also having the responsibility of protecting the computer when using the computer. They have to follow some best practices when they use a computer. begin{itemize} item Although the computer user is the owner of the computer he should not always log into the computer with the administrator privileges. If they log into the computer as a normal user, some kinds of viruses will not be able to enter into the computer. item A computer user should avoid from installing some anti virus software or some other software in some other persons computer. item As some viruses are coming with email attachments, when opening emails it is good to not to open emails from unknown addresses. item When downloading and installing anti virus software, download a recommended anti virus software. end{itemize} newpage section{Conclusion} According to the researchers, each and everyday over 200 computer viruses which can destroy a whole computer system within a few seconds are released by the computer virus creators. The worst thing that result an inflection is loosing data the reside in the computer. begin{sloppypar} end{sloppypar} Most of the time, these kind of destructions happen because of the lack of awareness of the computer users about the computer viruses. To mitigate the risk of infecting a computer virus to a users computer, the main thing we can do is make the computer users aware about the computer viruses, risks of infecting a computer virus and avoiding from computer viruses. begin{sloppypar} end{sloppypar} The people who have an idea about computer viruses most of the time trust anti virus programs. But just installing an anti virus software is not enough to protect the computer from computer viruses. The computer users also have the responsibility to protect the computer from computer viruses. As most of the time the computer viruses can come with the e-mail attachments, the e-mails from unknown addresses should not be opened. When downloading something from a web site the users should use only the trusted web sites and recommended software. But now there are nothing called trusted web sites. Even the software downloaded from Microsofts web site may contain viruses. Some viruses cannot enter into the computer if the user is logging into the computer with user privilege. So it is good to normally log into the computer with the user privilege. As viruses attack only the executable files, the write permission to those files can be restricted. begin{sloppypar} end{sloppypar} After installing an anti virus software program in a computer,to get the best protection from that anti virus, keeping it up to date is more important. But though there is an anti virus program installed in the computer, when plugging external removable devices into the computer, it should be scanned. begin{sloppypar} end{sloppypar} But the final conclusion which can come through this review is that though there are many protection methods,that are available in the world, a computer user cannot be completely safe from the computer viruses. That means any of the computer protection methods is not perfect in protecting computers from computer malware. newpage begin{thebibliography}{widest entry} bibitem{1} Markus Hanhisalo,emph{computer Viruses},Available at:http://www.tml.tkk.fi/Opinnot/Tik-110.501/1997/viruses.html# 1.Introduction% 20to% 20Computer% 20Viruses bibitem{2} Top Bits,2010, {http://www.topbits.com/types-of-computer-viruses.html} bibitem{3} McAfee,emph{An Introduction to Computer Viruses and other Destructive Programs},Available at: http://www.mcafee.com/common/media/vil/pdf/av_white.pdf bibitem{4} Stanley A. Kurzban, emph{Defending against viruses and worms},Available at:http://portal.acm.org/citation.cfm?id=68697 bibitem{5} emph{How AntiVirus Works},Available at:http://www.antivirusware.com/articles/how-anti-virus-works.htm bibitem{6} emph{How does anti-virus software work?},Available at:http://www.antivirusworld.com/articles/antivirus.php bibitem{7} emph{How Antivirus Software Detect Computer Viruses},Available at:http://security-antivirus-software.suite101.com/article.cfm/how-antivirus-software-dete bibitem{8} emph{What Is A Computer Virus? An Introduction To Computer Viruses},Available at:http://www.computertipsfree.com/computer-tips/security-tips/what-is-a-computer-virus-an-introduction-to-computer-viruses/ bibitem{9} http://www.washington.edu/itconnect/security/tools/ bibitem{10} Tech Bitz, http://tech-bitz.com/2008/04/05/virus-and-spyware-threat-is-larger-than-ever-before-anti-virus-companies-struggle-to-keep-up-with-flood-of-spyware/ bibitem{11} emph{AntiVirus Software Review },http://anti-virus-software-review.toptenreviews.com/ bibitem{12} Charles P. Pfleeger,Shari Lawrence Pfleeger emph{Security in Computing (4th Edition) } bibitem{13} emph{BitDefender AntiVirus Review },http://anti-virus-software-review.toptenreviews.com/bitdefender-review.html bibitem{14} emph{Kaspersky Anti-Virus 2010 },http://anti-virus-software-review.toptenreviews.com/kaspersky-review.html bibitem{15} emph{Webroot AntiVirus with SpySweeper Review },http://anti-virus-software-review.toptenreviews.com/webroot-antivirus-review.html bibitem{16} emph{Norton AntiVirus 2010 },http://anti-virus-software-review.toptenreviews.com/norton-review.html bibitem{17} emph{Trend Micro AntiVirus + AntiSpyware },http://anti-virus-software-review.toptenreviews.com/pc-cillin-review.html bibitem{18} emph{AVG Anti-Virus 9 },http://anti-virus-software-review.toptenreviews.com/avg-review.html bibitem{19} emph{F-Secure Anti-Virus Review },http://anti-virus-software-review.toptenreviews.com/f-secure-review.html bibitem{20} emph{G DATA AntiVirus 2011 },http://anti-virus-software-review.toptenreviews.com/antiviruskit-review.html end{thebibliography} end{document}

Tuesday, August 20, 2019

Contracting Considerations Of A Tour Operator Tourism Essay

Contracting Considerations Of A Tour Operator Tourism Essay This report will consider the contracting considerations of a small to medium sized tour operator in relation to providing a report based holiday experience for a clientele from socio-economic bands A and B. The report will consider two key elements namely in the form of accommodation and other services in the resort and transportation of an appropriate type to and from the resort. In considering a possible solution to providing accommodation for the companys guests there are a number of options open to the small to medium sized tour operator. At the one end of the spectrum the tour operator could consider an option of direct investment. Such an option would see the tour operator investing in hotels and accommodation facilities which at the end of the investment the company would own the facilities which could be used for both its own guests and for the purpose of renting out accommodation to other tour operators which capacity allows for such an options (Holloway et al 2009). However, such an option in the circumstances is an unlikely option for the specific company in question. In the first instance the option is an expensive one, investment in hotel and accommodation facilities can cost millions in there initial investment or more, this may be an unsuitable or even unrealisable option for a small to medium enterprise. Secondly, the corporate objectives of the company are to minimise risks, direct investment however, may be seen as a considerably risky option for several reasons. In the first case once established, the company will have long term fixed costs to meet over a prolonged period of time, such a problem is not incurred where a contract based option is undertaken and thus the liability to meet expenses is limited to the agreed contract period which could be as short as a single season or less. Secondly, long term investment an overseas location also implies taking on the national risk which are associated with international trade including exposure to currency fluctuations, interest rates and changes in demand from the consumer perspective (Griffin and Pustay 2010). Again, where a contracting option is considered such exposures whilst still present are limited to a much shorter period of time and thus to a large extent offset. A more realistic option for the company in question may be to consider one of the many contracting options which are available, such contracting options are also wide and varied in nature and include both direct and indirect contracts with accommodation providers as well as a variety of options with regard to the length contracts undertaken (Holloway et al 2009). In the first instance, the company must select between contracting directly with accommodation providers or through the use of a third party agency (Cooper et al 2008). Negotiation directly may help the company to save money by excluding the fees of a third party however, the downside is that the company may have to deal with a large number of accommodation providers each with their own peculiarities and unique circumstances. On the other hand, the company could opt to use another intermediary who will undertake such sub-contracting on the behalf of the tour operator, for the tour operator this reduces complexity in the contracting process in that the tour operator now has only a single point of contact (Holloway et al 2009). However, on the downside the tour operator will now incur additional costs from the fees levied from a third party, in addition the tour operator will also lose a degree of control over the accommodation which is to be provided and arranged by the third party. T his may have an impact upon the tour operator whos clientele falls with the A and B social bands and so have very specific requirements in relation to their individual accommodation needs in comparison to other segments of the market. The next consideration from a contracting point of view is to consider the length and level of commitment in contracting options. Again the tour operator is presented with a wide range of options, at the lowest level of commitment end of the spectrum the tour operator can simply book rooms with accommodation provider in reference to specific levels of demand experienced, such an option means that costs are kept to a minimum and risks from contractual obligations are virtually eliminated (Cooper et al 2008). There is however, an additional risk incurring in that whilst the tour operators liabilities are minimised so are those of the accommodation providers, in short should the tour operator experience a surge in demand and the accommodation providers be unable to meet such a demand do to market forces, the tour operator may be left either having to disappoint customers or have to pay premium prices in order to satisfy the demand. At the other end of the spectrum the tour operator could contract to buy a set number of rooms or even entire hotels for a specific period of time (Holloway et al 2009). In such a case the advantage is that the tour operator has a guaranteed level of availability in a given hotel or resort and thus the risks of not being able to meet demand are off set given that the tour operator has a fixed capacity which it may use as it sees fit. The other major advantage is one of cost linked to economies of scale (Johnson et al 2008), by undertaking longer contracts that purchasing rooms at the spot rate, the tour operator stands to benefit from substantial bulk purchasing discounts as rooms and accommodations purchased over a long period come at a much reduced cost in comparison to shorter periods of hire. However, in such a circumstance the company also incurs some additional risks. Now that the company has entered into a contract for a fixed amount of accommodation the tour operator also has the obligation to pay for the rooms and so needs to be able to fill the accommodation to as close to full capacity as possible throughout the year (Holloway et al 2009). In reality this may mean offering significant discounts at certain part of the year so as to attract enough custom to fill the accommodation, alternatively the tour operator could forego full utilisation however, the contract would see the tour operator still having to pay for the accommodation which has been rented in advance. In addition to accommodation, there are other elements of the resort experience which the tour operator may wish to consider contracting out to third party providers. Key elements include the provision catering services, onsite entertainment and other forms of entertainment and added value services such as tours and excursions of sites of local interest to the clientele of the resort (Singh 2006). From a transportation perspective, the use of scheduled flights has become one of the most important ways travel operators have been able to take advantage of both the flexibility and speed of air travel as part of the holiday package (Holloway et al 2009). Unfortunately due to the constraints of the scenario the travel operator will have look at a number of alternative methods of getting guests to and from the proposed resort of which there are a wide number of options including alternative air transportation options as well as some more creative solutions making use of alternative modes of transport. The first and possibly most feasible option for a tour operator who can not take advantage of scheduled flights to a destination may be to consider using a charter service. Charter services offer to schedule an aircraft for the specific use of a client on a given route, charter options may include a single trip rental but more likely a charter provider will agree with a company such as a tour operator a regular schedule of flights for a season or more (Holloway et al 2009, Cooper et al 2008). There are several advantages for the tour operator if such an option is engaged in. From the passengers perspective, there is almost no difference to if the tour operator had made use of a scheduled flight, the guest will be transported to their destination on an aircraft which functions in all but the same way as one operating on a scheduled route. Secondly, a charter service operates with more flexibility than that of the scheduled flight, the tour operator can choose deviate from the time tab le which would not be an option which scheduled options and there is also flexibility of destination which may include local changes such as using an alternative airport or more radical changes changing the route of the aircraft altogether. There are however, still some drawback of the charter flight option, the main problem would be one of capacity. In the case the scheduled flight the responsibility for filling seats lies with the airline provider and the liability of the tour operator is limited to the number of seats for which they have purchased on any given flight. However, when an aircraft is chartered the cost of the charter becomes a fixed cost and the responsibility for filling seats then becomes the responsibility of the charterer, in this case the tour operator (Holloway et al 2009). The charter option has been a relatively successful option in recent years for tour operators, in some circumstances the model has become so successful that there has become a blur in the boundaries between scheduled and chartered flights. This has been exhibited in both operational elements in that some charter flights are so regular as to almost form a scheduled service including the sale of spare capacity to additional passengers. Secondly many travel operators have sought to consolidate their positions by buying charter aircraft providers and integrating these businesses into the main business unit (Monarch 2010). If the tour operator still wishes to investigate the scheduled flight option further, there is the consideration that a multi-modal transport operation may be considered. In such a case the tour operator may consider purchasing seats to the nearest airport served by a scheduled flight and then arrange onward transport via road rail or water. In many cases this may be an unattractive option, especially where distances are significant. Such an option may become and annoyance for guests and add unnecessary costs for the tour operator. There are however, times when the option may be an appropriate one especially for the upmarket segment. Such circumstances may exist where the tour operator can incorporate the onward transport into the holiday package, this may be possible where the route from airport to resort passes through an area of outstanding natural beauty or a luxury transport option can be added such as a river cruise which serves a duel function as transport and entertainment. Air transport however, is not the only option available to a tour operator one other major option to consider is transportation via water. Water transport has largely declined in recent decades due to the rise of faster and cheaper air transport which also allows access to a wider number of destinations than water based or land routes (Holloway et al 2009). Despite the decline of the standard ocean liner as a mode of transport which is now largely confined to summer transatlantic crossings the market for other water based forms of transport has both stabilised and began to grow again in recent years. The most important development has been a rebranding of the cruise, in past times the cruise as a form of holiday had declined as a function of both poor branding and the rise of alternatives. However, significant investment on the behalf of the industry has seen the holiday rising again in popularity amongst consumers. In selecting a transportation mode suitable for a market segment in socio economic groups A and B one option may be to consider providing a hybrid holiday which takes advantage of the rise in popularity of the cruise linked to the facilities present at the destination. From a pragmatic perspective the tour operator could in effect make use of a cruise ship to transport its guests too the resort making the transport via water an essential part of the holiday package as opposed to being a way of getting to the product in the form of the resort. Once at the destination, the tour operator would have the option of providing a return journey for guests either via the same method or via an alternative such as a charter flight. The major benefit of such an option is that the tour operator would be able to offer a high value added product in which all elements of the package including transportation are considered a part of the holiday. On the downside, the small to medium size of the tour op erator would necessitate the use of a third party to provide a suitable vessel for use. This in turn would add complexity to the operation and there would naturally be a greater limitation on destinations based upon the schedules and services of third party providers as well as the natural constraints imposed by limiting transport options to water based transport. There is also a rail option open to the travel operator, this has become an option with an increased level of feasibility from the UK since the opening on the channel tunnel back in the 1990s. Whilst, rail transport provides fast and efficient transport from the UK to the major cities in Europe, the real problem with this option is one of flexibility. To a large extent destinations will be limited to the major cities within Europe and it may be considered to access to more remote destinations and resorts becomes infeasible and impractical for users of the service. In addition, the large distances and nature of the rail network means that intercontinental options will be largely off limits to a tour operator if looking to use rail as a transportation option. Given the objectives of the company which are largely to reduce risk and the consideration of flexibility the recommendation of this report are that the travel operator opts to convey its guests the resort via a chartered air service model. Such a model would see that the company does not have to risks associated with investing in expensive capital items such as aircraft or ships which would increase the risk profile of the company significantly. In addition, by using an air service the company would also maintain the element of flexibility and speed opening up a wider number of destinations than would be available through land or water based forms of transport. These are both key benefits for the companys target client group in socio economic groups A and B. There are however, still some risks associated with the charter route, whilst the company would not own any specific assets associated with the transport of passengers, the company would still have a fixed capacity of seat for w hich it would need to fill on each flight so as to keep the cost per passenger for a minimum. The risk here is that during periods of low demand the company may have to offer significant discounts in order to fill flights, this may also create a conflict with the companys generic strategy of focusing on the premium end of the market (Porter 2004, Jobber 2007).