Tuesday, January 28, 2020

Effective Approaches in Leadership and Management Essay Example for Free

Effective Approaches in Leadership and Management Essay The arrangement of health care system has reciprocated in regard to provide quality and modest care. The treatment of healthcare facilities have changeover at different levels in speciality care and acute illnesses to defensive health plan. The changes have seized effective direct approaches and delivery care. With the effort to balance the demands of patient needs in health care, many considerations are made including adjustments with budgets, decreasing excessive costs, and practicing effective means of delivery care. Nurses are challenged to keep up to a work environment that requires continual changes. The nursing industry today faces shortage, as many nurses have low job satisfaction, high compassion fatigue, and the patient ratios levels associate immense acuity. Furthermore, these factors have resulted in patient satisfaction and medical reimbursements. Notwithstanding all the identified issues and its effects, few nursing facilities are growing to next level to identify and promote nursing skills by setting framework to endeavour to gain Magnet status. This paper will focus in comparing and contrasting the expectations of the nursing managers and leaders approaches that may use in regard to magnet status. Magnet status is best defined by Miriam Hospital as ‘ a designation that is rewarded to hospitals for the concept of Magnet Culture; it is a working environment which enables nurses to practice and focus on skilful nursing, involving bedside decision making, nursing development and involvement, competent education, and promote nursing leadership skills (Miriam Hospital, n. d. ) The birth of magnet status undertook in beginning of 1980’s when some hospitals were practicing new retaining ideas for nursing staff with motivation for patient care. Therefore, this concept was developed after few researches and finally it was made official through an article named: â€Å"Magnet Hospitals: Attraction and Retention of Professional Nurses,† written and published in 1983 by Dr. McClure president of the American Academy of Nursing (AAN), professor at New York University, and a member of the original task force (Hawke, 2004). Statistics prove that Magnet hospitals have superlative patient satisfaction scores, protected patient environments, minority of repeat admissions, and improved patient outcome. It is vital that various pre-requisites and qualifications must be met and maintained to execute the concept of Magnet status. The nursing leadership  and management work in synchronization with their defined roles to achieve the goals of completing the tasks by establishing nursing staff participation needed to achieve skilful nursing. In order to receive accurate results, it is essential to define roles and target essential outcomes. According to Huber (2010), the aspect of management is to cater the resources that are required to achieve the target goal of organisation. A manager is expected to plan, organise and implement strategies from an organizing high level to enable the outline of requirements to meet the goal. The manager is responsible to practice the policies and procedures and carry them appro priately. In order to achieve Magnet status, the nurse manager needs to survey the patients and staff to identify and construct the areas of weakness that would improve the patient satisfaction. Some of the basic actions include financial stability by reducing the amount of waste, safeguarding medical reimbursement with patient satisfaction, and nursing practices that mirror decisions like bedside reporting, friendly patient care education, and timely rounding. The nursing leader is expected to provide assistant to the nurse manager in achieving goals by promoting smooth work flows through communication, and provide better understanding of their overall vision, and reasoning why these adjustments are necessary. The nursing leader can accomplish this by promoting trust and endeavouring mutual consent while managing issues (The difference between leadership and management, 2012). In comparison and contrast of the nursing managers and leader approaches there are few points to be considered. In ma nagement, the goals are carried out with the help of managers within the organisation. Whereas the leaders help to identify and develop new approaches to the issues emerging in the organisation. The managers work to fulfil the goals and continue to do, whereas the leaders undergo risks to challenge people and new ideas to break the chain (The difference between leadership and management, 2012). Frellick (2011) states that Magnet concept is created to facilitate and empower shared decision-making and accountability process. To achieve success in this concept, the healthcare facilities need to master in the regulations well known as the ‘Fourteen Forces of Magnetism’, it consists of the new levels in nursing management, encouraging strong participation, and place where nurses are recognised and are able to contribute to the top management. In addition, one more key to success if  the interdisciplinary relationships; it means the members of each department of healthcare are able to co-ordinate and work together; such as nurses, physicians, pharmacists and t herapists. Leadership aims on mutual consent of all team members and promotes respect and involvement of all departments, shared responsibilities and leadership style for actions. It is an necessary personal approach of the writer that personal involvement is the key for building working relationships between management and leadership professionals as they both promotes the organisational goals. If the nursing professionals have opinions and ideas that matters for the wellbeing of the patient satisfaction, then an extra effort to highlight the need is essential. Any new idea is difficult to execute without the commitment and facilitation of the managers and leaders and also among the other parties involved. Real efforts and success can be achieved by working together as a team, and aiming to contribute in a continuous methods in healthcare facilities for total patient satisfaction. References Frellick, M. (2011). A Path to Nursing Excellence. Hospitals Health Networks. Advance online publication. Retrieved from Frequently Asked Questions (FAQs) about Magnet. (2013). Retrieved from Hawke, M. (2004, January). Magnet Status Attracts Mettle. Nursing Spectrum, 19-21. Retrieved from Huber, D. L. (2010). Leadership and Nursing Care Management (4th ed.). Retrieved from Miriam Hospital. (n.d.). Retrieved from The difference between leadership and management. (2012). Retrieved from

Monday, January 20, 2020

Emer’s Ghost :: Essays Papers

Emer’s Ghost For this month’s book report I read a book called ‘Emer’s Ghost’ by Catherine Sefton. This book was about a girl named Emer who lives in Northern Ireland. She knows a man named Mr.Bannon who has a hidey-hole where he keeps things, and it is a very secret place. Emer finds a wooden doll that is old and worn, and noticed that there was something strange about the doll when she picked it up. That night when she went to sleep, she awoke only to find a ghost of a young girl. Emer was frightened but she wanted to help the girl. The girl disappeared and when Emer tried to tell her sister, Breige, she only laughed and made fun of Emer. The same thing happened a few days later. Emer’s other sister, Kathleen, wanted to go to the fortune teller, so Emer went along with her. When they arrived the fortune teller first told Kathleen’s future. Then when she got to tell Emer’s, all the fortune teller did was to look into Emer’s eyes f or a very long time. Then the fortune teller gave Emer a drawing and asked her if it looked familiar. At this time Emer had never seen it before, so the fortune teller told her to keep it. Later on in the book, Emer sees the drawing on the window and wonders what it means. Kathleen’s friend was digging around a church that had been burned down a long time ago by the Vikings when they were looking for a chalice. Finally Emer sees the ghost again and sees the drawing. She finally knew what the drawing meant; it was a map of the hidey-hole! Emer and Breige go into the hidey hole and discover that the wall was where the roof of the hidey-hole had caved in. Emer and Breige frantically dug through the stones and crawled through to the other side, and then the wall collapsed. Emer was choking and thought she was going to die, but she was able to crawl out of the hole. She then realized that Breige was still in there, so she went and dug Breige out, but Breige wasn’t breathing! Finally Breige started breathing and Emer found the chalice. All of the town was happy and the ghost never bothered Emer again.

Sunday, January 12, 2020

Stenden Hots Part C

SCM HOTEL| MODULE ASSIGNMENT PDO PART C| SCM HOTEL| MODULE ASSIGNMENT PDO PART C| Other Operating Expenses at the company which makes a high turnover and a bad staff satibout . e in the HOTS game. Year: 2011-2012 Module: 3 Team 8 Other Operating Expenses at the company which makes a high turnover and a bad staff satibout . e in the HOTS game. Year: 2011-2012 Module: 3 Class: 2PDOd Team 8 Inhalt 1 Performance dashboard year 2 & 3:3 Total turnover4 Figure 1; Total revenue. 4 Figure 2; Net income5 Figure 3; Total rooms sold6 Figure 4; Room occupancy %7 Figure 5; The average room rate (ARR)8Figure 6; Revenue per available room (RevPAR)9 Figure; 7 Public awareness10 Figure 8; Staff turnover (annual %)11 Benchmark Internal year 2 & 3 using variance analysis12 Sales13 Cost of sales13 Payroll and Related13 Gross profit less wages13 Other direct costs13 Total fixed costs14 Income before taxes IT14 3. 3 Benchmark Internal year 2&3 using DuPont analysis15 3. 4 Benchmark Best in comp etitive set:17 3. 5 Benchmark with the industry19 Conclusion21 Performance dashboard year 2 & 3: In the chapter performance dashboard of year 2 & 3 an analysis of important figures in relation to the business SMC will be given.The figures entail every month from every year this means 4 years are shown, year 0 until year 3. A total of 9 figures is used and will be individually explained. Total turnover Figure 1; Total revenue. The total revenue of hotel SCM can be found in figure 1 which is shown above. The last two years the hotel made a lot more revenue than previous years, this can be explained by the investment of the entrepreneurs. In the last two year more revenue can be made because of the investment in year zero and one. Due to investment the facilities and comfort of hotel SCM expanded which results in higher revenue.Figure 2; Net income The net income over the 4 years that SCM exists are shown in figure 2. There is a lot fluctuation within one year especially when l ooking at January and December year one. In year one and a little less in year two the tables shows that the figures are low and even negative. Year 2 and 3 are a bit more constant but with a remarkable negative figure in September year 2. These negative figures is due to the investments that are made. Implementation of services, refurbishment and investing in marketing makes the total direct costs high which influences the net income negatively.After year one the average net income increased enormously. There were no big investments anymore and therefore no high cost which would influence the net income in a negative way. Figure 3; Total rooms sold In figure 3 an overview of the total rooms sold is shown. The hotel opened in year zero and from that moment on the line is progressive which means on average a growth in total rooms sold can be concluded. In year 1 on average 2797 rooms were sold on monthly basis, in year 2 this number was 4196. The last year the total rooms sols increa sed again to 4699 rooms average sold on monthly basis.On average hotel still improved itself every year with number of rooms sold because the total increased every year. Figure 4; Room occupancy % In figure 4 the room occupancy in percentages is shown for the 4 years that hotel SCM exists. In year zero the occupancy percentage was the lowest and the highest for year three because of the progressive line which was also shown in total rooms sold. On yearly basis a stable line is shown with in April a high percentage and a decrease in occupancy percentage at the end of the year, this is related to the high and low season so is totally understandable.The low occupancy percentage in year zero can be explained due to the fact that the rooms weren`t done so couldn`t be sold. Figure 5; The average room rate (ARR) The average room rate of hotel SCM is related to figure 5. The average room rate is pretty stable and is close to the line of 100. Year one is on average around 10 $ dollars lower and year 2 shows relatively unstable line . The average room rate for year zero was 100. 10,for year one this is the lowest with a rate of 95. 38, year two shows an average room rate of 98. 32 and for the last year which is year three it is the highest with 103. 5. Figure 6; Revenue per available room (RevPAR) Figure 6 gives an inside in the revenue per available room (RevPAR) of hotel SCM. The figure shows the influence of the high and low season again January and December are low season and show a lower RevPAR, where July, August and September which are high season show the highest RevPAR. When comparing January year 3 40. 74 to August year 3 93. 92 this is a difference of 53. 18 in RevPAR all due to the influence of the high and low season. The RevPAR increased every year of existents of hotel SCM. Figure; 7 Public awarenessPublic arwareness which can be found in figure 7 was something that was very important for hotel SCM that’s why a lot investments were made in marketin g. It shows how aware the public is of the existents of hotel SCM. In Year zero the hotel started with a very high public awareness, in Year 3 the public awareness was the highest which is very positive because after 4 years people are still aware of the hotel. The high public awareness can be explained by the high investment in marketing, but is shows that its contributing and has a positive effect. The average public awareness for year zero 37. 65, for year 1 28. 65, for year 2 38. 07 and for the last year which is year 3 it was 48. 08. Figure 8; Staff turnover (annual %) Figure 8 shows the staff turnover in annual % over the 4 years. The figure shows that only year 1 is relatively stable year 1 and 3 are very unstable and fluctuated every month. In year zero the staff turnover was the lowest with an average of 27. 53%, in year 1 it increased to the percentage of 43. 44%, in year 2 it increased again while the average was 64. 13% and in year 3 this was the highest with an average of 70. 34%. Benchmark Internal year 2 & 3 using variance analysisIn this chapter the differences between the budget and the actual results from year 2 and 3 will be given. A table with the estimated budget which were made in HOTS assignment part B will be shown and explanation for the actual results will be given. The budget in assignment B was based on the results of year 1. | Year 1| Budget y2| Budget y3| Sales| Â  | Â  | Â  | Rooms| 3. 834. 606,00| 6. 820. 937,50| 9. 695. 312,50| Food| 1. 943. 338,00| 2. 332. 005,60| 2. 681. 806,44| Beverage| 887. 156,00| 505. 689,20| 581. 542,58| Other| 328. 258,00| 393. 909,60| 452. 996,04| | 6. 993. 358,00| 10. 052. 541,90| 13. 411. 57,56| | Â  | Â  | Â  | Cost of Sales| Â  | Â  | Â  | Room| 18. 321,00| 32. 589,11| 82. 397,41| Food & Bev| 1. 182. 670,00| 1. 185. 678,72| 1. 366. 999,36| Other| 62. 957,00| 75. 548,40| 104. 256,79| | 1. 263. 948,00| 1. 293. 816,23| 1. 553. 653,57| | Â  | Â  | Â  | Payroll & Related| Â  | Â  | Â  | Front office| 203. 371,00| 166. 799,36| 208. 499,20| House keeping| 289. 856,00| 166. 799,36| 208. 499,20| Food & Bev| 423. 309,00| 416. 998,40| 500. 398,08| Other| 52. 594,00| 109. 527,60| 153. 338,64| | 969. 130,00| 860. 124,72| 1. 070. 735,12| | Â  | Â  | Â  | Gross Profit less Wages| Â  | Â  | Â  | Room| 3. 323. 058,00| 6. 54. 749,67| 9. 195. 916,69| Food & Bev| 1. 224. 515,00| 1. 235. 017,68| 1. 395. 951,58| Other| 212. 707,00| 208. 833,60| 195. 400,61| | 4. 760. 280,00| 7. 898. 600,95| 10. 787. 268,87| | Â  | Â  | Â  | central adm. Payroll| 320. 224,00| 250. 000,00| 240. 000,00| Total Other Direct Costs| 2. 347. 026,00| 1. 200. 000,00| 1. 150. 000,00| Income before FC| 2. 093. 030,00| 6. 448. 600,95| 9. 397. 268,87| Â  | Â  | Â  | Â  | Total Fixed Costs| 1. 180. 850,00| 750. 000,00| 850. 000,00| Â  | Â  | Â  | Â  | Income before IT| 912. 180,00| 5. 698. 600,95| 8. 547. 268,87| | | | | Table 1; estimated budget year 2 +3 SalesFor sales in ye ar one the total amount 6. 993. 358,00 the hotel expected an amount of 10. 052. 541,90 based on the findings in table 1 out of assignment b. The actual sales income for year 2 is 12. 504. 685,00 so the actual result is better than expected. In year 3 the entrepreneurs expected an amount of 13. 411. 657,56 which was actually 14. 227. 255,00 again the result is better than expected. These result can be explained because of the ARR that increased where in year 1 the figure ARR was around 90 in the 3 year it is around the 105/110. Cost of sales In year 2 hotel SCM expected a total of 1. 293. 16,2 in cost of sales but results in 2. 428. 178,00 which is almost 2 times that high. For year the 2 estimated amount was1. 553. 653,57 this was actually 2. 631. 055,00. The big difference in the estimated budget and the actual figures can be explained due to the high marketing costs which were made as mentioned in chapter 1 figure 7. High costs in marketing resulted in a high public awareness whic h was good for the company.Payroll and Related 1. 362. 446,00 is the actual total amount for year 2 for payroll and related while the estimated amount was 860. 124,72, for year 3 the expectations were an amount of 1. 70. 735,12 which was finally 1. 556. 499,00. These amounts are a lot higher due to the trainings and employee costs which are made, hotel SCM had a high occupancy so all employees were needed and training was necessary to remain customer satisfaction and quality. Of course the training and salaries influence employee satisfaction and the entrepreneurs believe that happy employees do their job better. Gross profit less wages In year 2 a decrease in gross profit less wages is estimated to the amount of 7. 898. 600,95 and resulted in 8. 797. 635,00 which is a bit higher, for year 3 10. 787. 68,87 was expected where 10. 134. 228,00 which is a bit lower. The budget is very close to the estimated budget in year 2 the gross profit is 70,4% and in year 3 even 71,2% on the incom e statement. Other direct costs 3. 692. 438,00 instead of 1. 200. 000,00 for other direct costs in year 2, 4. 687. 714,00 instead of 1. 150. 000,00. These figures are tremendously higher than were estimated, this is due to investment in facilities. The strategy of hotel SCM was not to spend that much on refurbishment but to remain quality the hotel had to do it to be able to compete with the other hotels.Therefore no hotel shop was built because otherwise the other direct costs would be even higher. Total fixed costs In year 1 the Total fixed costs percentage was 16. 9% which meant 1. 180. 850,00$, for year 2 and estimation of 750. 000,00 was made and resulted in 1. 159. 593,00 (9,3%). In year 3 estimated budget was 850. 000,00 which was finally 1. 053. 443,00 (7,4%). The estimated budget was actually very low when looking at the percentage. The percentage for the fixed costs has decreased which is good and are relatively low, which is positive for hotel SCM. |Income before taxes IT The income before IT year 2 was 3. 509. 143,00 which is lower than the expected amount of 5. 698. 600,95. 3. 913. 793,00 was the income before taxes in year 3 which is a lot lower than the estimated amount of 8. 547. 268,87. The income before taxes are a lot lower than expected which is unfortunate. 3. 3 Benchmark Internal year 2&3 using DuPont analysis In the following Text is explained which progress the Hotel SCM did based on the DuPont analysis. As one can see in the DuPont analysis year 2 related to year 3 the net profit and total revenue increased.That is positive but looking at the ratios like net profit margin, asset turnover, return on asset, financial leverage multiplier and return on equity it can be considered that SMC performed in year 2 better even the net profit is lower. The Profit margin is an indicator for profitability in a company. It shows how much money is made out of the total revenue in percentage. In both years it was made around 20% which Is very good but in year 3 it was a bit lower. The reason was more costs which lowered the net profit. In both years is the asset turnover around 0. 9.That is all right because when the profit margin is high then in the most cases the asset turnover is low. That doesn? t mean that SCM performed bad, is just a unspoken rule in finance, because of that you have to take more than one ration in consideration to decide which company is healthy or not. Return on assets is in year 3 17,03% and in year 2 18,07%. It can be conclude that the ROA decreased just 1%. It is interesting for new investors. A high ROA means that the company generates a lot of money out of a lower investment. So actually it can be assumed that investing more money can generate more profit.Furthermore the financial leverage multiplier is very important. In both years it is 1,21, that is for investors a good indicator to judge on the healthiness of an company. A high leverage means that a Company covers the investments with foreign money. A low number means that the company uses the gained money to reinvest. The reason because SMC has a low leverage is because it was no need to invest a higher amount of money like to build more rooms so SMC had not taken a higher loan or need to sale mire share which is not possible in the HOTS game.Moreover the last and one of the most important ratios is Return on equity. A high ROE is necessary for a company to attract more shareholders which invest in the company. It decreased in year 3 but it is still more than 20 %. SMC performed in both years very good just in year 3 it was worse. 3. 4 Benchmark Best in competitive set: SMC had an end ranking of the 3rd place. We are going to compare ourselves to Lilihotel which won the game. Operations SMC had the highest RevPar so it is not necessary to compare it. The gross operating Profit was 34,91 % and lilihotel had 43,79%.That means lilihotel gained more money with less costs. Moreover lilihotel had a higher rooms market share. The reason is that lilihotel built more rooms so it could be sold more as well and it was sold 7 more in average compared to SMC. Owner SMC had 29,35% ROCE and lilihotel 40. 85%. That ratio shows how much the companies gained back out of the investment. The Hotel SMC did not invest so much in year 2 and 3 so the performing was worse. It was no Hotel shop and no more rooms were built even that SMC had no loan anymore. Looked at the balance sheet of the company SCM, there were more the 3 million $ on the ccount. On one hand it is positive to have saved money but so much is wrong to safe because the money could be invested to generated more. Guest SMC is better than lilihotel so it should not be compared. But SMC was not as good as Team 7 which reached 100% guest satisfaction. It can be explained because the company’s image index was 109,81 compared to SMC which just had 74,76. The reason can be the missing Hotel shop. Staff Of both Hotels is the Staff satisfaction the same wit h 70%. SMC got the lower ranking because the staff turnover was lower than at lilihotel.The winner in that part was Team 7. They had the lowest staff turnover. That mean the company had a better planning in staff hiring in busy times. Overall it can be concluded that in every part were little differences, so it cannot be told that SMC performed so much less than lilihotel. 3. 5 Benchmark with the industry | Hotel SMC Year 3| Hosta 2011>250 rooms| Differences| Revenue| | | | Rooms| 50,7%| 58%| -7,3%| Food| 30,67%| 24%| 6,67%| Beverage| 12,33%| 8%| 4,33%| Other income| 6,3%| 10%| -3,7%| Total Revenues| 100%| 100%| | Cost of Sales| | | |Food| 12,1%| 7%| 5,1%| Beverage| 5,0%| 2%| 3,0%| Other Departments| 0,7%| 1%| -0,3%| Total Cost of Sales| 17,8%| 10%| 7,8%| Payroll & Related| | | | Rooms| 5,3%| 10%| -4,7%| Food & Beverage| 5,0%| 14%| -9,0%| Central Administration| 2,7%| 4%| -1,3%| Other departments| 0,7%| 3%| -2,3%| Total Payroll & Related| 13,7| 31%| -17,3%| Other Oper ating Expenses| | | | Rooms| 6,9%| 5%| 1,9%| Food & Beverage| 1,3%| 2%| -0,7%| Other departments| 0,6%| 2%| -1,4%| Total Other Operating Expenses| 8,8%| 9%| -0,2%| Undistributed Operating Expenses| | | |Administration & General| 2,6%| 3%| -0,4%| Marketing| 13,5%| 3%| 10,5%| Energy Cost| 0,3%| 3%| -2,7%| Property Operating| 1,9%| 2%| -0,1%| Total Undistributed Expenses| 18,3%| 11%| 7,3%| Total Expenses| 58,6%| 61,2%| -2,6%| Income Before Fixed Charges| 34,9%| 38,8%| -3,9%| In the following the company SMC is compared to the Hosta report 2011 which is a report about the industrial averages in the hospitality industry. In that case we are just focusing on hotels with more than 250 rooms. Revenue In Food & Beverage the Hotel SMC performed better than the industrial average.In Food 6,67% better and in Beverage 4,33% better. Moreover the company is worse in rooms and in the account other income that can be because it was not implemented a Hotel shop. As well SMC did not build more rooms. It can be concluded that SMC need more time to run the business properly to reach the industrial average in Rooms to gain more revenue. Cost of Sales In total SMC had 7,8% more cost of sales than the average. That shows that a lot of improvement is necessary. The right balance between marketing, suppliers, extra services and the total revenue.Sometimes should SMC lower the standard to gain more net profit because the cost a lower than as well. Payroll & Related Take the Hosta report in consideration than it shows that the hotel SCM is 17,3% lower in Payrolls as the average. First it looks positive because that means less costs on the other hand when the employees now that there are underpaid related to the average then the will not work anymore at the company which makes a high turnover and a bad staff satisfaction. Other Operating Expenses The company SCM had 1,9% more expenses the in the hosta report. Moreover the total is 0,2% lower than the average.It can be conc lude that the expenses a relative high because the hosta report is for hotels with more than 250 rooms. SMC has exactly 250 rooms which means that the expenses are to high. In the next year It should be figured out how to lower it. Undistributed Operating Expenses SMC is spending too much on marketing, 10,5% more than the average. But overall the total expenses are 2. 6 lower the industrial average which means that SMC do a good performance in that part. But on the long term the Hotel has to increase the income because it is 3,9% lower than in the hosta report mentioned. ConclusionFinancial Based on the findings showed in chapter 3. 3 the conclusion is drawn that the hotel is very healthy. The ROA decreased 1% which basically means when there will be more investment, the profit will increase and the financial leverage multiplier staid the same with 1,21. Operations What we have seen before, the operations on building new facilities was not that important in year 2 & 3. The hotel did not build extra rooms or hotel show, but did, again, a lot of refurbishments. Technology and maintenance Like said before, there were some refurbishments done in rooms, front office and restaurant.This was done because of the lower guest ranking. HRM The costs of staff training was very high. This caused mayor ‘other costs’ and the company did not really create a very constant amount of staff turnover. Marketing SCM hotel spent a lot of money on marketing, far more than its competitors. This resulted in very high costs, but also in a very high, constant public awareness. Next year Next year the hotel should try to sell more rooms. This cannot be done with spending more money on advertising, but in positive experiences and mouth to mouth.In addition the staff need to be well trained, although it would be recommended not to higher the staff training costs. This needs to be done with improved planning skills and a better schedule In addition, because of the opportunit ies in the Return on Assets, it would be wise to make some investments during year 4. There is no loan to take care of, so it could be a very big one which requires a lot of money. Moreover there should be a good guest and staff survey, what they think about the company and what needs some attention, so the hotel can provide better service to the needs of its employees and the guests. Appendixa

Saturday, January 4, 2020

Russell Simmons - 787 Words

Russell Simmons has been successful because he turned an idea into an opportunity. Mariotti and Glackin (2013) states while Russell attend college he saw an opportunity in the underground music genre Hip-hop (p.154). From that moment on Russell knew he could capitalize off hip-hop. Not only did Russell take a chance on an opportunity, he formed a great record label with his friend Rick Rubin called Def Jam Records. However his success did not stop there Russell went on to create a clothing line, Rush Communications and many other ventures. With his knowledge of street entrepreneurship and the philosophy of â€Å"keeping it real† (p.154-155), Russell Simmons was able to promote his ventures with great success, making him one of the biggest†¦show more content†¦Russell not only made hip-hop mainstream he gave youths around the world artist they could relate to such as Run DMC. Run DMC was a good group to market because they stayed true to their roots and their fas hion was part of the hip-hop culture. Russell marketing advantages did not stop there. He realized that the clothing that the youth were wearing was making a statement of who they were. It was then Russell created and promoted the clothing line Phat Farm. Phat Farm is urban apparel that the urban youth embraced because it represented their lifestyles. By Russell good marketing strategies more consumers were embracing and purchasing the products that they were becoming familiar with. Further more Russell Simmons urban roots also gave him an advantage with the youth on political issues. Mariotti and Glackin (2013) inform readers that in 2002 Russell organized a youth summit at New York City Hall to protest the then mayor proposal to cut the education budget (p.155). Russell new if he marketed the event through social media, radio and TV networks he could get the youth attention. Being that Russell had the information and associated artists such as Jay-Z and Alicia Keys to address the issues, 20,000 youth showed up to support the cause. Around 1985 Russell Simmons invested $5000 to start Def Jam Records. However in 1999 he made the decision to sell his business to Polygram records for $100 million giving him a return on investments of 2 millionShow MoreRelatedMinority entrepreneurs have many barriers they have to overcome in order to be successful. Some1100 Words   |  5 Pagesinvestors. They also generally live in run down areas, with poor schooling and less access to successful people. One entrepreneur who has hurdled over all the barriers and became extremely successful is Russell Simmons, the co-founder of Def Jam Records. Biography of Russell Simmons Russell Simmons was born in Queens, New York, on October 4, 1957. Growing up in Queens, he spent part of his adolescent years as a street hustler. During his middle school years, he sold marijuana and was even a memberRead MoreHip Hop Dance : Dance1287 Words   |  6 Pageslocking, and breaking. Some of the great artists and producers that have had a big influence on hip hop from the time period of 1970-1979 and 1980-1989 are: Grandmaster Flash, Russell Simmons, The Beastie Boys, and Dr. Dre. From 1970- 1979 other than Dj Kool Herc and Afrika Bambaataa, Grandmaster Flash and Russell Simmons also known as â€Å"The Hip Hop Pioneer† had a huge influence on Hip-hop dance. Grandmaster flash was taken under Dj Kool Herc’s wing. He began to work on a new and revolutionary techniqueRead MoreHip Hop : A Cultural Force1568 Words   |  7 Pages1970’s. Hip-hop has since become a multifaceted cultural force. It’s more than just music some people say and others th ink it is negative promoting bad things for young listeners. Now hip-hop is something people can relate to. A man by the name of Russell Simmons and co founder of Def Jam Recordings once said â€Å"The thing about hip-hop is that it’s from the underground, ideas from the underbelly, from people who have mostly been locked out, who have not been recognized.† Hip hop is no longer limited to justRead MoreCharles James Simmons1175 Words   |  5 PagesSimmons, Charles James (1893-1875), politician and evangelical preacher, was born on 9 April 1893 at 30 Brighton Road, Mosley, Birmingham. His father, James Henry Simmons (1867-1941), was a master painter and his mother, Mary Jane (1872-1958), a schoolteacher. They were Primitive Methodists, temperance advocates, and Liberals. His maternal grandfather, Charles Henry Russell (1846-1918), a Liberal, Primitive Methodist lay preacher and friend of Joseph Arch (leader of the Agricultural Labourers’Read MoreViolent Video Games: When a Game Becomes Reality1085 Words   |  4 Pages caregiver after playing violent video games† (Russell). The child was so immersed in his game that he decided that it would be a good idea to see how it worked in real life. The boy was playing Grand Theft Auto IV, an incredibly violent game in which players are encouraged to kill and injure innocent people for fun. The boy appeared to have no other motive, as he deeply cared for his caregiver, and neighbors were perplexed as to why this had occurred (Russell). Some believe that the game had no effectRead MoreHip Hop : The Commodification Of African American Women1717 Words   |  7 Pageshe swiped a debit card down a young woman’s backside received much backlash; for instance students at Spelman College protested against his appearance at the institution due to the video. At the 2004 Detroit Hip-Hop Summit when hip-hop mogul Russell Simmons was asked how he felt about Spelman students challenging the sexual objectification of black women in hip-hop, he steered away fr om the topic by discussing how he enjoyed Nelly’s drink â€Å"Pimp Juice†. When re-asked the same question, he exasperatinglyRead MoreThe Fusion Party And The Election Of 18962022 Words   |  9 PagesNorth Carolina. For the first time since Reconstruction, a Republican governor was elected, Daniel Russell. Russell was a leader of the Fusion party and won the state election with 46.57% of the vote, beating out the Democratic candidate, Cyrus B. Watson. Daniel Russell was raised in a family with unusual political beliefs, including an opposition to secession during the years of the Civil War. Russell gained an interest in politics, joined the Fusion party and ran for governor, known as a man whoRead MoreThe Power of Hip-hop in the Business World Essay2228 Words   |  9 Pages but after a while it occurred to Russell Simmons, the president of Run-DMCs label Def Jam Records, that the group should be getting paid for the promotion they were giving to Adidas. He approach ed the German shoe company about kicking in some money for the acts 1987 Together Forever Tour. Adidas executives had a skeptical reaction about being associated with rap music, which at that time was known for starting riots. To help change their minds, Simmons invited a couple of Adidas representativesRead MoreThe Hip Hop Culture Essay2107 Words   |  9 Pagesparody of the culture, pop crossovers, and the threat of white rappers taking over the music† (Hess 4). The lifestyle, that people thought would be a passing fade, it has grown to become a permanent part of world culture. Some hip hop artists like Russell Simmons have become some of today hero’s. Many other artists such as 50 cent, Jay Z, Lil Wayne, Snoop Dogg are now recognized as successful hip-hop moguls. The hip hop culture started among the African Americans, Latinos of Bronx, and New York in theRead More A Phenomenon; Hip-hop Essay1937 Words   |  8 Pagesstars. The first step is lyrics to stop this violence, which have the most powerful one. The music authorities are aware of the dirtiness in lyrics, such as Russell Simmons, the hip-hop producer, â€Å"†¦have proposed banning three particular words from clean hip-hop music and the airwaves†(Gayle, 2). However, hip-hop authorities, such as Russell Simmons, earn money with these splashes, they know how the power of hip-hop so they estimate damages on youth. Marks emphasizes this power with an example, â€Å"The