Stress in The Workplace Assignment Example | Topics and Well Written Essays - 750 words

Stress in The Workplace - Assignment Example The external environment also caused the organization to transit to a technological system; this included the political, economic stimuli, technological, and social factors. Finally, the internal environment that included the procedures, styles and policies, systems, as well as the attitude of the workers, had an influence on the change (Northouse, 2013). The stakeholders of the organization comprising of the investors, owners, and employees were affected in a way by the technological transition to the company. For instance, the technological change came from the investors needs to increase their profits by improving the technology in their insurance company. To achieve this, they involved the managers and directors to implement those decisions. The investors and top management staff were impacted positively by the changes. However, the employees at some point were affected by some of the decisions, as they are normally not involved in decision making of these magnitudes. Some employees were forced to leave the job since the implementation of technology lessens work, and the organization may see the need to reduce its workers. Nevertheless, the ones who remained were positively affected by the technology as work was now easier, and also they gained more skills in using the computerized equipment’s which will benefit them in fu ture. To enable the smooth technological transition of the company, the company applied an advanced concept technology demonstration (ACTD) plan to be aware of the needs and any obstacles that may arise during its implementation process. This transition plan was an element of the (ACTD) management plan, which reflected the transition strategy. For instance, the initial cost estimates for fulfilling the technology, the envisioned used of the technology, the functional aptitude elements supported, and the concept of operation, among others. This plan addressed the transition elements and issues that were relevant to the

Personal Development Planning Essay Example | Topics and Well Written Essays - 1500 words - 3

Personal Development Planning - Essay Example One has to follow the right strategies towards reaching that career. One has to attend training and learn all the different perspectives and requirements needed to pursue and succeed in that career. Schooling is an important step that make some understand the historical, current as well as future trends in a certain career (Duffy, 2006, p. 55-7). This way, one is able to reshape and his realign his dreams and find the much-needed motivation to pursue the dream to accomplishment. Mentorship plays an important role in enabling one to create important goals and objectives, and plan on methods to pursue them. The attainment of particular set goals and objectives should always pave way for one to set other goals that are much advanced from the previous goals. A good career provides a reliable and favourable opportunity for a person to actualize his dream. In order to ascertain whether your dreams are being met, it is important o have a plan upon which one can always confirm about the particular progress. This plan is usually referred to as a personal development plan; it usually guides one into achievement of the specific set targets in the line of career and other related aspects. I have chosen to pursue a career in public relations, an area that mostly requires spreading of information between an individual or organisation and the public. Public relations is an important practice in business organizations, public and private institutions as well as the public sector. In the career, a practitioner has to gain necessary and reliable exposure to their targeted audience using topics of public interest and different news items that may not necessarily require direct payment. In a company and other business related practices, public relations is aimed at passing information that is aimed at persuading public investors, partners, employees as well as other stakeholders to maintain a certain perspective about its

A Tale of Two Cities Essay Example for Free

A Tale of Two Cities Essay Does strong devotion overpower the will of a good heart? Ernest Defarge, a character in A Tale of Two Cities by Charles Dickens, is no more than a puppet to his wife. Though he does not like the idea of killing innocent people just because they are aristocrats, he refuses to speak up due to fear of confrontation with his wife. Due to his background and life as a slave, Defarge, like many other revolutionaries, dislikes the aristocracy, and has some desire to get revenge. However, he does not truly want these desires to build to the extent that the revolution got to. Ernest Defarge is a man with a good heat, driven to be a catalyst to the revolutionary acts by his strong devotion to the two things he cares about most: his country, and his wife. Paragraph 1: Though many may not see it behind all the terrible things he has done, Ernest Defarge really does have a good heart. Ernest Defarge shows compassion my comforting Gaspard, saying, Be a brave man, my Gaspard! It is better for the poor little plaything to die so, than to live. It has died in a moment without pain. Could it have lived an hour as happily? Defarge didn’t have to make an effort to help him out, but he does. This random act of kindness shows that he does in fact have a good side to him. After the child is run over, the Marquis throws a coin out of the carriage, thinking he can pay for the child’s life, and in return he is â€Å"suddenly disturbed by a coin flying into his carriage†. In this action of throwing the coin back, which is believed to be done by Monsieur Defarge, shows his dislike to the aristocracy, and foreshadows the fact that he will take a stand against it for the good of his country and its people. Monsieur Defarge’s personality differentiates from this sense of kindness when he barks orders at the revolutionaries such as, â€Å"Patriots and friends, we are ready! The Bastille! (214). In opposition to his good heart, Defarge is also the leader of the Revolution. In this part of the book, he, and his fellow revolutionaries, destroy The Bastille, and everything else that happens to be in their path. This completely contradicts the compassion shown from Ernest Defarge earlier in the book, but also shows that there may be something behind his madness. Monsieur Defarge also happens to be an old servant to Dr. Manette, and cares deeply for him, but when it comes to choosing between helping the Doctor, or helping his country, Defarge’s great devotion to France towers over his feelings towards Manette. Do the square thingy with this quote * â€Å"†¦In a hole in the chimney, where a stone has been worked out and replaced, I find a written paper. This is that written paper. I have made it my business to examine some specimens of the writing of Doctor Manette. This is the writing of Doctor Manette. I confide this paper, in the writing of Doctor Manette, to the hands of the President.† This note he found, is of Manette â€Å"(add quote where he condems darnay)† Even though he deeply cared for Manette, he would do anything, literally anything, to help the people of his country. He believes that sentencing Darnay to death is the right thing to do for France, and since he believes that, he will do everything in his power to make it happen. Defarge knew how bad this would hurt Doctor Manette, since Darnay was the Doctor’s son-in-law, but it was his and his wife’s duty to kill all aristocrats, therefore he couldn’t show and mercy. Defarge would even hurt a friend, in order to do what he thinks will help his country. Paragraph 4:  Even though it is kind of hard to see at first, Madame Defarge seems to have a great deal of power over her husband. â€Å"As to thee†, pursued madame, implacably, addressing her husband, â€Å"if if depended on thee-which, happily, it does not, thou wouldst rescue this man even now† Even though Monsieur Defarge wants to help Charles Darnay, she wouldn’t allow it. He wanted to help out the Manette’s and save Darnay, but after the revolutionaries were informed on what the Evermond’s did to Madame Defarge’s family, he was the only one who wanted to show mercy. Due to the fear of confrontation with his wife, he doesn’t speak of saving Darnay again. Ernest Defarge, from A Tale of Two Cities by Charles Dickens is portrayed as a great leader to the revolutionaries, but in reality, he is merely a puppet, with Madame Defarge as his puppeteer. Devotion can be a strong thing, sometimes so strong that it can lock up the kindness of a good heart, and throw away the key.

The Makeover Beauty Salon Marketing Essay

The Makeover Beauty Salon Marketing Essay Introduction The Makeover Beauty Salon is a beauty salon that aims at rendering maximum customer satisfaction by providing the best service, using high quality products, and building a pleasant environment at an affordable price, to meet the needs of customers of all social status. I am the owner of The Makeover Beauty Salon and I perceive an unsatisfied customer need for a low-cost salon that provides maximum flexibility and great customer attention. Using this strategy, The Makeover Beauty Salon will gain much reputation and create long-term relationships with its customers. The Makeover Beauty Salon is the only area salon to be online and fully automated and will have the most aggressive marketing campaign of any other area salon. The Makeover Beauty Salon will target two different market segments: Youngsters will typically make up 70-75% of the clientele.   Young mothers with children.   http://www.bplans.com/hair_salon_business_plan/images/bc49aab41b914ef99dca65af1ff71a82.png Future Opportunities The main segment of the population that is targeted by the salon is the younger generation, which is the youth. It has been noticed that adolescents like different and new looks, which are apart from others. They like to look very special and The Makeover Beauty Salon has all the means to satisfy the needs of the main targeted group. This opportunity will be researched and developed on a trial basis. For example, every weekend, people can go to the salon and i will do their makeup or hair. If successful, it could become a major new source of income without creating the need for additional staff or production space. The management team of The Makeover Beauty Salon I will be the only manager of the salon. I will have as assistant, Miss Shazia. The latter takes the responsibility of supervising the workers when I will not be present at the salon. Miss Shazia has a degree in management of salon and she has two years of experience from another salon. I have also appointed two caretakers, Mrs Aisha and Miss Dolly, who will take care of customers children when the customers will be pampering themselves. Growth opportunities improve employee retention within our industry. The salon acknowledges the need for growth of the individual. II The Business The company After a tedious search for a suitable place for the salon, finally one was found at the centre of the island. The location of the salon would be perfect, as it can welcome customers from all over Mauritius. The exact location is in the centre of Curepipe. The recently completed highway in the surrounding offers  hundreds of thousands of local residents, shoppers from outside the area, and travelers that use this new highway.  With this high concentration of customers there  is no big and sophisticated salon in the locality. This is one of the main advantages of opening the salon at that particular location. Services and products offered The Makeover Beauty Salon is considered an innovating beauty salon which offers a wide range of services that include: Hair:  cuts, relaxers, perms, colors, shampoo, conditioning, curling, reconstructing, weaving, and waving Nails:  manicures, pedicures, polish, sculptured nails Skin Care:  European facials, body waxing, massage Makeup: bridal makeup, casual makeup, formal makeup, amongst others Service is offered on a walk-in basis or by appointment. The Makeover Beauty Salon will emphasize a customer-centric service where the customers needs are always the priority. The Makeover Beauty Salon will also sell hair care products, which is forecasted to account for about 15% of sales. These professional-quality supplies will include shampoos, conditioners, brushes, combs, and other styling aids. Company Overview The Makeover Beauty Salon is located in Curepipe and will offer affordable priced, convenient hair styling. The Makeover Beauty Salon will accept walk-ins as well as appointments for the entire family. The salon will grow its market share based on superior customer attention. The Salon is a family hair salon, also known as a quick hair salon and this new salon has everything to set up a new path and disguise people in an unexpected way. It is owned by Miss Chellen, who has recently returned from the United States, with innovative ideas, after advanced studies about the fashion and makeup line, and also in beauty salon management. Company Ownership The Makeover Beauty Salon will be entirely owner by me. I have done a degree in Beauty Salon management and a degree in General Cosmetology in the United States. I also worked in a salon for more than 5 years there. I have a very friendly approach in the salon and when I am tutoring. Salons motto: The trend begins here Vision Mission The Makeover Beauty Salons vision is to create a harmonious, productive, and profitable salon environment, supplying the community with Avon cosmetology. The mission statement is very clear: The Makeover Beauty Salon has been established to set a new path in the beauty line by providing an exceptional service which aims at satisfying people of all age. Through its services, the salon aims at exceeding customers expectations. Objectives To cater for the fast changing trends of makeup and hairstyles. To make people look more special and different from others. To supply services and products that enhances our clients physical appearance and mental relaxation. Keys to Success Set up the salon in a location easily accessible to everyone. The environment should be very appealing, friendly and relaxing. Try to be as innovative as possible in styles. Dare to try something new. Aim at complete customer satisfaction by offering the best service at affordable prices. The Makeover Beauty Salon can best be described as presently being in the business of cosmetology, education, and wellness. In recent times our key strengths have been customer service. The Makeover Beauty Salon will use automation to keep hold of clients. According to studies, it takes 3 times the amount of effort to attract a new client than the effort to retain a satisfied client. at present, 10% of all salons are automated. in the vicinity, 3 salons are automated and none use the technology to market and track clients. Automation is a key to growing and maintaining our target market. Goals and Objectives It is the goal of The Makeover Beauty Salon to provide the community with an institution of cosmetology that targets all socioeconomic standings and is a model for the industry nationally. Startup Summary After several months of search for a salon to purchase, the owner decided to start a salon from the ground up. The Makeover Beauty Salon will incur the following start-up costs: Computer with point of sale terminal. Computer with printer for back office. Five cutting stations, each station requires a barber chair, cabinet, large mirror, blow dryer, curling iron, electric razor, several pairs of scissors, spray bottle, two sided mirror, and assorted combs and brushes. Desk for reception area. Three couches for the reception area. Display shelf for sale of retail products. Assorted plants. Assorted toys for the children. Legal fees for business formation and generation/review of contracts. http://www.bplans.com/hair_salon_business_plan/images/6ff2aec4851d460cb0a964e4122e4fa2.png Startup funding Start-up Expenditure to Fund $2000 Start-up Assets to Fund $104,000 Total Funding Required $106,000 Assets Non-cash Assets from Start-up $8,450 Cash Requirements from Start-up $89,720 Additional Cash Raised $0 Cash Balance on Starting Date $89,720 Total Assets $98,170 Liabilities and Capital Liabilities Current Borrowing $0 Long-term Liabilities $40,000 Accounts Payable (Outstanding Bills) $0 Other Current Liabilities (interest-free) $0 Total Liabilities $40000 Capital Planned Investment Chellen $100,000 Investor 2 $0 Other $0 Additional Investment Requirement $0 Total Planned Investment $100,000 Loss at Start-up (Start-up Expenses) ($1,100) Total Capital $98,900 Total Capital and Liabilities $104,000 Total Funding $106,000 Start-up Requirements Start-up Expenses Legal $1,000 Stationery etc. $100 Other $0 Total Start-up Expenses $2,000 Start-up Assets Cash Required $89,720 Other Current Assets $0 Long-term Assets $7,000 Total Assets $104,000 Total Requirements $106,000 III Management Team I will be working full time at the Makeover Beauty Salon. She will be in charge of all recruitment and training, purchasing, and retail sales. Apart from the assistant manager and the two caretakers, I will also employ a receptionist to  take care of all of the appointments as well as the people who walk in, and be responsible for the point of sale.  The receptionist will be paid an hourly wage. I even plan to hire some part-time hair stylists during wedding periods and the eves of festivals, which will operate on an hourly/commission basis.   I thought of using a partial commission basis to create incentives for greater customer attention. The better service employees provide to their customers, the greater customer satisfaction will be derived and the more money they will make off commissions. Miss Chellen will be pleased to pay for this type of performance. IV Organizational Structure The organisational structure of The Makeover Beauty The New Looking salon will be like a flat organisation structure. It is supervised closely by the founder. Thus, efficiency is maintained and so is the satisfaction of customers. The salon is structured as follows in the diagram below. Director Children Caretakers Manager of salon Assisstant Manager Part-timers Part-timers Part-timers Diagram 1: This represents the business structure. Intellectual Property The patent license, trademark and copyright agreements have already been applied for approval. V Industry Analysis SWOT Analysis Strengths à ¢Ã¢â€š ¬Ã‚ ¢outstanding location. à ¢Ã¢â€š ¬Ã‚ ¢Well-qualified employees with good hair cutting skills with a wide style collection, and Customer-focused business practices. à ¢Ã¢â€š ¬Ã‚ ¢A wide range of services offered. à ¢Ã¢â€š ¬Ã‚ ¢ Cutthroat prices. Weaknesses à ¢Ã¢â€š ¬Ã‚ ¢As a new entrant to the market, The Makeover Beauty Salon lacks brand equity that many other salons have gained over years of service. à ¢Ã¢â€š ¬Ã‚ ¢Large costs related with a start-up company. Opportunities à ¢Ã¢â€š ¬Ã‚ ¢A steady growing market that is traditionally unaffected by the economic environment. à ¢Ã¢â€š ¬Ã‚ ¢The ability to decrease marginal fixed costs as the customer base grows. à ¢Ã¢â€š ¬Ã‚ ¢Increasing sales opportunities as more people from an individual family visits The Makeover Beauty Salon. Threats à ¢Ã¢â€š ¬Ã‚ ¢Competition from already established salons. à ¢Ã¢â€š ¬Ã‚ ¢A change in traffic patterns as they relate to the mall where The Makeover Beauty Salon is located. The hair styling industry is highly divided with national chains, some of which operates diverse franchises catering to all the market segments, and also including thousands of mom and pop salons that are very limited in scale and services. This makes for an extremely aggressive market that has low barriers to entry and exit. Moreover, the customers of hair styling have considerable control due to the low switching costs they have. However, most companies have tried to pursue only one general strategy in gaining more reputation. The Makeover Beauty Salon is of the view that that it is possible to offer a differentiated service through superior customer service at no greater considerable cost if the right employee incentives are provided. With this strategy in mind, the salons purpose is to boost the number of clients served by at least 30% per year. Target Market The Makeover Beauty Salon will be targeting two different groups of customers, but will lay more emphasis on the youths. It will work hard to distinctly appeal to each of these groups. By focusing on more than one group, the salon is minimizing its risk that in a downturn one group will negatively affect the company. Market Segmentation The Makeover Beauty Salon will target three different market segments: Youngsters will normally make up 70-75% of the clientele, as they are very conscious about looking good, having perfectly trimmed eyebrows and they like to keep changing their styles regularly. Young mothers with children. Most young children are notoriously difficult when it comes to getting haircuts. A family style salon is a more laid-back place that allows the children to play while they are waiting and then will work with the parents in calming the kids nerves when they are ready for their shearing. Target Market Segment Strategy The Makeover Beauty Salon will target each of the two groups separately. The youngsters will be pampered in a very bright, appealing, colorful and attractive atmosphere. Employees will use the latest equipment available with them, which would suit their preferences and with which they will feel at ease. The Makeover Beauty Salon will also  target mothers with children by offering the kids toys to play with while they wait and child-friendly hair stylists. Moreover, children will receive a special rate reflecting the fact that childrens hair grows so fast that it can be costly to keep up with regular cuts, as well as the recognition that it generally takes lesser time to cut a childs hair so it should be naturally less expensive. Competition and Buying Patterns The Makeover Beauty Salon competitors include: Traditional barbers. They do not work on appointments as it offers an open door service. While barbers are willing to give you whatever cut you want, they are generally providing straight forward haircuts, typically on the conservative side. The advantages of a barber are they are low-cost and easy to use. Their disadvantages is often conservative styling capacities, sometimes a long wait as the barber may be an old timer who enjoys to chit chat. Franchised quick salons.   An example of this would be Supercuts or Best Cuts. In essence this is a franchised version of The Makeover Beauty Salon. The advantage of this style is the store will be the same from location to location and some people like this predictability.   Independent salons. These salons typically focus on a specific niche and do not serve a large group of customers. The advantages to these could be an independent salon that caters for all of your needs. The disadvantage is that because they tend to be more focused, more often than not this type of salon will not offer exactly what  customers are looking for. Competitive Edge The Makeover Beauty Salon aims to be very different from the beauty salons which offer only one or two services. From surveys, it has been concluded that customers often get frustrated as they have to get their hair done at one place and facial and makeup done at another place. This becomes very annoying for clients as they have to travel a lot and it is tiresome as well. Therefore the Makeover Beauty Salon plans to offer all these services under the same roof. As such, clients will be more at ease to make themselves beautiful. There exist several salons that are already proving the same services as the Makeover Beauty Salon, but they charge very high prices which everybody cannot afford as these salons are situates mostly in towns, where high rent have to be paid. Therefore, to attract the maximum number of customers, the Makeover Beauty Salon plans to offer better quality service than the other salons, but at affordable prices so that everyone can afford making then look beautiful, especially the youngsters, as they are the one that the salon is targeting at. Basically the atmosphere prevailing at the Makeover Beauty Salon will be very cozy and relaxing, where clients would love to be pampered. A welcoming drink will be served to clients as they enter the salon they can chose amongst tea, coffee, juice, soft drink. A television will be located in the waiting room and a radio in the hair-drying area, as this may take some time. VI Marketing Plan Marketing Strategy The Makeover Beauty Salon has a very simple marketing strategy: satisfying its clients. Miss Chellen is of the view that when a customer leaves her salon, he/she should have a new look which would be perfect for the occasion the latter would be attending, and the latter should also be representing the Makeover Beauty Salon through his/her makeup and hairstyle the client should be a medium of portraying the salons qualities, service and image. Miss Chellen has no plans to advertise her new salon. According to researches, a satisfied customer is able to influence 11 14 people positively. Therefore, the owner of the salon is of the view that its the satisfied customers that will bring new customers to her salon and her business grows. She has, in her mind, a strategy to reward her potential clients who are able to attract new customer into the salon. Sales Strategy The Makeover Beauty Salon sales approach will be based on exceptionally professional communications with the customer. Normally the quick salons lay emphasis on being quick and inexpensive, often at the cost of customer service. Anytime that a potential customer will talk with someone at the Makeover Beauty Salon, the owner/employee will have an opportunity to impress the customer. Employee training will emphasize seizing these opportunities. The Makeover Beauty Salon will also have the chance to increase sales of its retail hair care products every time it has a customer in the chair. The Makeover Beauty Salon offers interesting discounts on the hair care products for employees to use these products, so that they can explain to the customer about their personal experiences. Additionally, the Makeover Beauty Salon offers a product-based commission structure for the hair care products where they give away the product to the employee for commissions for selling the items to their customers. These personal testimonials and commission structure will allow  the salon to generate good sales from the retail hair care products. Sales forecasts The first diagram above depicts the first years forecast of the Makeover Beauty Salon sales. In the first 4 months, sales will be very steady as the salon will experience new customers, who will get to know about the services that the salon offers. During the subsequent months, an increase in all the services offered is expected, as the customers will be satisfied with the service of the salon. Sales Forecast Year 1 Year 2 Year 3 Sales Youngsters $20,150 $35,260 $41,100 Women with small children $2,015 $3,526 $4,110 Retail hair care products $29,225 $32,975 $40,500 Total Sales $51,390 $71,761 $85,710 Direct Cost of Sales Year 1 Year 2 Year 3 Youngsters $2,600 $4,750 $4,900 Women with small children $260 $475 $490 Retail hair care products $14,500 $26,000 $27,500 Subtotal Direct Cost of Sales $17,360 $31,225 $32,890 VII Operation Plan Facilities The salon will be offering home styling and makeup for brides or any other special weekends, but for that, an appointment is compulsory this should be done at least 3 weeks before the due date. Potential clients will not be charged with the travelling costs. Hours of operation The salon will be open week from 8 am to 5pm on Monday to Saturday. However, on Saturdays and public holidays, it will be opened from 10 am to 1 pm. Employee Training Education Employees will be trained not only in their specific styling duties but in the philosophy and applications of our concept. They will receive extensive information from the owner and be kept informed of the latest information concerning styling and makeup applications through continuous training. Systems Controls A big emphasis is being placed on extensive research into the quality and integrity of our products. They will constantly be tested for our own high standards of effectiveness and professionalism. Cosmetic products costs and inventory control will be handled by our computer system and checked daily by management. Facilities The salon will be offering home styling and makeup for brides or any other special weekends, but for that, an appointment is compulsory this should be done at least 3 weeks before the due date. Potential clients will not be charged with the travelling costs. Hours of operation The salon will be open week from 8 am to 5pm on Monday to Saturday. However, on Saturdays and public holidays, it will be opened from 10 am to 1 pm. Employee Training Education Employees will be trained not only in their specific styling duties but in the philosophy and applications of our concept. They will receive extensive information from the owner and be kept informed of the latest information concerning styling and makeup applications through continuous training. Systems Controls A big emphasis is being placed on extensive research into the quality and integrity of our products. They will constantly be tested for our own high standards of effectiveness and professionalism. Cosmetic products costs and inventory control will be handled by our computer system and checked daily by management. VIII Financial Plan Start-up Funding Start-up Expenses to Fund $1,817 Start-up Assets to Fund $60,600 Total Funding Required $62,417 Assets Non-cash Assets from Start-up $60,100 Cash Requirements from Start-up $500 Additional Cash Raised $0 Cash Balance on Starting Date $500 Total Assets $60,600 Liabilities and Capital Liabilities Current Borrowing $0 Long-term Liabilities $61,917 Accounts Payable (Outstanding Bills) $0 Other Current Liabilities (interest-free) $0 Total Liabilities $61,917 Capital Planned Investment Owner $500 Investor $0 Additional Investment Requirement $0 Total Planned Investment $500 Loss at Start-up (Start-up Expenses) ($1,817) Total Capital ($1,317) Total Capital and Liabilities $60,600 Total Funding $62,417 Important Assumptions The following section will detail important Financial Assumptions. General Assumptions Year 1 Year 2 Year 2 Plan Month 1 2 3 Current Interest Rate 10.00% 10.00% 10.00% Long-term Interest Rate 10.00% 10.00% 10.00% Tax Rate 30.00% 30.00% 30.00% Other 0 0 0 Projected Cash Flow The cash flow depends on assumptions for inventory turnover, payment days, and accounts receivable management. Our projected same-day collections are critical, and are reasonable and customary in the salon industry. We do not expect to need significant additional support even when we reach the less profitable months, as they are expected. http://www.bplans.com/hair_salon_business_plan/images/d5e510e0cfe04c2484123f1575a810dc.png Projected Cash Flow Year 1 Year 2 Year 3 Cash Received Cash from Operations Cash Sales $277,143 $504,802 $525,337 Subtotal Cash from Operations $277,143 $504,802 $525,337 Additional Cash Received Sales Tax, VAT, HST/GST Received $0 $0 $0 New Current Borrowing $0 $0 $0 New Other Liabilities (interest-free) $0 $0 $0 New Long-term Liabilities $0 $0 $0 Sales of Other Current Assets $0 $0 $0 Sales of Long-term Assets $0 $0 $0 New Investment Received $0 $0 $0 Subtotal Cash Received $277,143 $504,802 $525,337 Expenditures Year 1 Year 2 Year 3 Expenditures from Operations Cash Spending $251,600 $275,200 $279,200 Bill Payments $101,816 $172,090 $181,489 Subtotal Spent on Operations $353,416 $447,290 $460,689 Additional Cash Spent Sales Tax, VAT, HST/GST Paid Out $0 $0 $0 Principal Repayment of Current Borrowing $0 $0 $0 Other Liabilities Principal Repayment $0 $0 $0 Long-term Liabilities Principal Repayment $0 $0 $0 Purchase Other Current Assets $0 $0 $0 Purchase Long-term Assets $0 $0 $0 Dividends $0 $0 $0 Subtotal Cash Spent $353,416 $447,290 $460,689 Net Cash Flow ($76,273) $57,513 $64,648 Cash Balance $20,307 $77,820 $142,467 Projected Balance Sheet of The Makeover Beauty Salon Year 1 Year 2 Year 3 Assets Current Assets Cash $20,307 $77,820 $142,467 Other Current Assets $0 $0 $0 Total Current Assets $20,307 $77,820 $142,467 Long-term Assets Long-term Assets $7,320 $7,320 $7,320 Accumulated Depreciation $1,464 $2,928 $4,392 Total Long-term Assets $5,856 $4,392 $2,928 Total Assets $26,163 $82,212 $145,395 Liabilities and Capital Year 1 Year 2 Year 3 Current Liabilities Accounts Payable $11,945 $14,341 $14,968 Current Borrowing $0 $0 $0 Other Current Liabilities $0 $0 $0 Subtotal Current Liabilities $11,945 $14,341 $14,968 Long-term Liabilities $45,000 $45,000 $45,000 Total Liabilities $56,945 $59,341 $59,968 Paid-in Capital $60,000 $60,000 $60,000 Retained Earnings ($1,100) ($90,782) ($37,130) Earnings ($89,682) $53,652 $62,557 Total Capital ($30,782) $22,870 $85,427 Total Liabilities and Capital $26,163 $82,212 $145,395 Net Worth ($30,782) $22,870 $85,427 IX Critical Risk factors Management Risks: It can be considered the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate event or to maximize the realization of opportunities. Risks can come from uncertainty in financial markets, project failures and legal liabilities in the Makeover Beauty Salon. Other potential Management risks may be: Defective products/services. Health and safety incidents. Faulty equipment.(e.g. damaged wires or sockets) Environmental risks (e.g. noise pollution and the use of eco-friendly product) Technological obsolescence. Theft of assets Marketing Risks: Marketing is a risk and you cant go on happily thinking that whatever youre doing is working for the best of the organization. By the time you do so, the market will have shifted from under your feet. Some marketing risks may be: Government action ( pass law to limit the time for using salon till late night) Rival (imitation of ideas is done quickly by competitors) Operating Risks: It is a risk arising from execution of a companys business functions. As such, it is a very broad concept including e.g fraud risks, legal risks, physical or environmental risks in the Makeover Beauty Salon. Other forms of operating risks may be: the type of product received from suppliers the neighbourhood problem which can halt work the defect that hairstyle is not done according to customer wish regulation which employee dont accept culture for where on a day some worker have to leave for prayer Financial Risks: It is basically any risk related with any form of financing. Risk is probability of unfavorable condition; in financial sector it is the probability of actual return being less than expected return for a business company. Intellectual Property Infringement: It is the infringement of an intellectual prop

Felicia Hemans and To My Own Portrait versus William Wordsworth and Tin

Visions of the Past: Felicia Hemans & William Wordsworth I will here attempt to give an idea of the links between Felicia Hemans and William Wordsworth. I will begin with a brief biography of Hemans, followed by a look at the relationship between Hemans and Wordsworth. I will end with a short comparison of Hemans' poem "To My Own Portrait" and "Tintern Abbey." Hemans' Biography [1] Born Felicia Dorothea Browne in Liverpool in 1793 and raised in North Wales, Hemans was largely home-schooled by her mother. Considered a child prodigy by her family, she loved Shakespeare, was well read in several languages, and is said to have been able to quote passages from literature at length after only one reading. Felicia also studied music and drawing, and was later to include several of her sketches as frontispieces for her publications. She began writing as early as the age of eight, and her first volume, Poems was published by subscription in 1808 when she was only 14. The collection was met with some harsh reviews, which, although upsetting to the young poet, did not lessen her passion for writing. In fact, the same year saw the publication of England and Spain, or Valour and Patriotism. This volume was likely inspired by the service of her elder brothers, who both entered the army at an early age, and served in the Peninsular Campaigns in Spain. As her sister Anne Brown e was later to write in her posthumous biography of Hemans, "trumpets and banners now floated through her dreams in which birds and flowers had once reigned paramount." [2] Felicia's father left his wife and children in 1810 to move to Upper Canada, effectively ending all contact with his family. By this time Felicia was engaged in correspondence with Captain Alfre... ... V. 1. Hemans' Life and Works, 1839. P. 26 4. Hemans, Felicia. Quoted by Anne Browne. "Memoir of Mrs. Hemans." V. 1. Hemans' Life and Works, 1839. P. 251 5. Byron, Lord. From a letter to the Hon. Douglas Kinnaird, September 17th, 1820. Byron: A Self-Portrait, Letters and Diaries 1798-1824. V. II. London: John Murray, 1950. 6. Jeffrey, Lord. Edinburgh Review. October, 1829. 7. The information for this section is taken from two sources: Wolfson, Susan & Peter Manning. The Longman Anthology of British Literature: The Romantics and Their Contemporaries. V. 2A. New York: Longman, 1999. Kennedy, Deborah. "Hemans, Wordsworth, and the 'Literary Lady.'" Victorian Poetry. 35:3 Fall 1997. 267-286. 8. Quoted in Kennedy, p. 268. 9. Quoted in Kennedy, p. 270. 10. Kennedy, p. 270. 11. Quoted in Kennedy, p. 273. 12. Longman Anthology, p. 736.

The Knight´s Yeoman Essay -- Knight Yeoman Essays

The Knight ´s Yeoman He was born in a castle sometime during the twelfth century. It was the same castle that his father and grandfather before him had been born and lived in all their lives. The estate was magnificent and completely self-sustaining. The grounds around the main citadel stretched for miles and included vineyards and farmland as well as fields for cattle and sheep. A small freshwater lake nearby fed several streams which supplied water to the manor house and provided for irrigation. Only a few miles away on the coast was a harbor which attracted trading ships from all around Europe. The castle itself was enormous and could house hundreds in complete comfort and security. Outer walls had been constructed one hundred feet high and twelve feet thick to withstand the fiercest of sieges. Inside the barbicans, however, these same walls were covered with luxurious handmade tapestries depicting scenes of everyday life to maintain the warmth dispersed by the many fireplaces within. Overall the stru cture rivaled in opulence and fortifications the palaces possessed by the wealthiest and most powerful of kings. Unfortunately, it wasn't his castle, nor would it ever be. He entered the world with a particular status in life. Unless misfortune befell him, he would leave the world as an old man just as he had entered it, a yeoman in servitude to a knight of the realm. The yeoman's education came as an apprenticeship in a trade. Only royalty or those destined for the church ever learned to read or write. There would never be any choice for what profession or for what goals one might wish to achieve. One simply did whatever one was born into doing. There was a rigid caste system to follow, and so in the steps of his father and grandfather, he learned the art of being a woodsman. From the earliest moments of his life, the yeoman spent his youth serving the needs of the woods surrounding the estate learning how to use every element of the forest. Whether it was cultivating wood for carpentry, or studying the migratory habits of game animals, he learned to survive and exist under the trees. There would be no other teachers for him other than his father and the older apprentices also in servitude. The apprentices would sometimes spend weeks and even months in the surrounding forests. Living in shelters made from branches and wearing clothes fabricated f... ...th life and battle and had little respect for the ways of chivalry. His first love was for women, and he cared little for devotion to either God or the kingdom. On many occasions long into the night before a battle when time should have been spent praying for divine protection, he was found in the arms of a woman. He had been lucky so far that his recklessness had not gotten him killed or captured. Nevertheless, all this was of little concern to him, he was young and handsome and felt that he had a world of women to conquer. Chaucer in describing the lusty bachelor stated that: "So hote he loved that by nightertale. He slepte namore than dooth a nightingale" And so it came to pass one spring that upon returning from a winter campaign, the knight felt it an opportune time to take his son on a pilgrimage to visit the shrine of St. Thomas Becket at Canterbury. It would be both an opportunity for them to express their sincere devotion to God as well as spend some pleasurable time together. They would spend several weeks on the road and so again the yeoman was conscripted as their servant. He would act as their valet as he watched over them while they traveled along the road.

The Riz-Carlton Applicaiton Summary

1999 Application Summary THE RITZ-CARLTON ® HOTEL COMPANY, L. L. C. Copyright  © 2000 by THE RITZ-CARLTON ® HOTEL COMPANY, L. L. C. – All Rights Reserved THE RITZ-CARLTON ® HOTEL COMPANY, L. L. C. at a Glance Products and Services: The Ritz-Carlton Hotel Company, L. L. C. develops and operates luxury hotels for others. The hotels are designed and identified to appeal to and suit the requirements of its principal customers who consist of: (1) Meeting Event Planners and (2) Independent Business and Leisure Travelers. President & COO: Horst Schulze Headquarters: 3414 Peachtree Road, N. E. Suite 300 Atlanta, Georgia 30326Operations: One Central Reservations Office Seven International Sales Offices (ISO’s) 24 Hotels and Resorts in North America Two Hotels in Europe Eight Hotels and Resorts in Asia Two Hotels in Australia 30 Hotels under Development Customer Base: Over 800,000 Customers World-wide 1999 Revenue: $1. 5 Billion. A 40% increase over the previous five year s. Employees: 17,000 World-wide, known as The Ladies and Gentlemen of The Ritz-Carlton History: Established in 1983, the former owner, W. B. Johnson Properties, acquired the exclusive North American rights to the Ritz-Carlton trademark, the foremost ame in luxury hotels. This status was largely due to the legendary Caesar Ritz who developed and operated two of the world’s best hotels in Paris and London. The hotels achieved such fame in the marketplace that they attained what is often referred to as â€Å"The Ritz Mystique†. In 1995, The Ritz-Carlton was jointly acquired by Marriott International Inc. to achieve their strategy of entering the luxury hotel segment of the industry; the takeover/merger occurred in 1997. Copyright  © 2000 by THE RITZ-CARLTON ® HOTEL COMPANY, L. L. C. – All Rights Reserved The Ritz-Carlton Hotel Company, L. L. C. 999 Application Summary Overview A History of Managing for Performance Excellence in the Hotel Industry Most hotels re mained profitable despite these quality deficiencies because competitors had similar problems. Previously, in tiny hotels and inns, the innkeeper directed activities in the organization personally, including â€Å"managing for quality†. As hotels grew in size, the volume of activity outgrew the capacity of the innkeeper to manage by personal direction – it became necessary to delegate. Ritz-Carlton Returns to the Fundamentals: Upper Management Participation Then came 1983 and Horst Schulze. More Summary of Devil at My HeelsThe pace quickened with a lengthy procession of new Ritz-Carlton Hotels under development. Faced with this challenge, Horst Schulze and his team decided to personally take charge of managing for quality because they realized managing for quality could not be delegated! Apprentices were trained in the craft and qualified by examination to become craftsmen. The innkeeper – the master – then delegated much of the managing for quality to the craftsmen, subject to inspection and audit by the master. Many of our standards go back 100 years to this era of Caesar Ritz and the legendary Chef August Escoffier.The upper management participation of Horst Schulze and his team ranged across a broad spectrum, but most significant activities consisted of: As we entered the 20th century, the size of a hotel and its organization sharply increased. The resulting large hotels required functional departments. The innkeeper – now a general manager â₠¬â€œ delegated to each functional department head the responsibility for quality, for performing the function correctly. †¢ Defining the traits of all company products which are set out in The Credo. For a full explanation of The Credo, see Figure 1 on page 2. With the emergence and growth of technology, hotel roducts and processes became increasingly complex. To deal with these new complexities the hotel industry adopted the principle of separating planning from doing. Planning of the various departments was delegated to division and department heads (e. g. Food & Beverage managers, Rooms Executives, Purchasing Directors, etc. ). This left the job of executing the plans to the first-line supervisors and the workforce. The separation of planning from execution had four major consequences. †¢ Translating The Credo into basic standards to clarify the quality responsibilities for our Ladies and Gentlemen; the ost important of which include: (1) anticipating the wishes and nee ds of the guests (2) resolving their problems and (3) genuinely caring conduct towards guests and each other. 1. A factory concept emerged in which people were assigned one task rather than a single craftsman performing the entire sequence of tasks. In this factory approach, if task #11 was causing a problem for task #24, it wasn’t identified until it reached the customer, and even then the problem likely continued. 2. A dramatic rise in productivity. 3. The segregation of divisions and departments. 4. A further distancing of upper managers from the job of anaging for quality. †¢ Aggressively instilling a passion for excellence. †¢ Personally training the Ladies and Gentlemen of a new Ritz-Carlton on The Credo and Basic Standards, commonly referred to as The Gold Standards, which are shown on page 2 as Figure 1. Another Major Change, A Comprehensive Structure By 1989 Horst Schulze realized that a more comprehensive structure was necessary for the Ritz-Carlton to opt imize its performance. He selected the Malcolm Baldrige National Quality Award Criteria. Through the use of this assessment tool and the resulting feedback reports,The Ritz-Carlton developed a â€Å"Roadmap† to business excellence (see pages 3-4) which has attained significantly higher performance levels. A major ingredient of this approach was involving people in the planning of the work that affects them. The progressive removal of upper management from managing for quality produced negative effects on quality. Typically, performance either fell short of customer need or the cost to meet the need became excessive. In addition, the hotels accumulated huge chronic costs as a result of poor quality. 1 THREE STEPS OF SERVICE 1 A warm and sincere greeting. Use the guest name, if nd when possible. 2 Anticipation and compliance with guest needs. â€Å"We Are At The Ritz-Carlton, our Ladies and Gentlemen are the most important resource in our service commitment to our guests. Ladi es and By applying the principles of trust, honesty, respect, integrity and commitment, we nurture and maximize talent to the benefit of each individual and the company. Gentlemen Serving Ladies and The Ritz-Carlton fosters a work environment where diversity is valued, quality of life is enhanced, individual aspirations are fulfilled, and The Ritz-Carlton mystique is strengthened. Gentlemen† THE RITZ-CARLTON ® CREDOThe Ritz-Carlton Hotel is a place where the genuine care and comfort of our guests is our highest mission. We pledge to provide the finest personal service and facilities for our guests who will always enjoy a warm, relaxed yet refined ambience. The Ritz-Carlton experience enlivens the senses, instills well-being, and fulfills even the unexpressed wishes and needs of our guests.  © 2000, The Ritz-Carlton Hotel Company, L. L. C. All Rights Reserved 2 The Ritz-Carlton ® Basics 1. The Credo is the principal belief of our Company. It must be known, owned and energ ized by all. 2. Our Motto is: â€Å"We are Ladies andGentlemen serving Ladies and Gentlemen. † As service professionals, we treat our guests and each other with respect and dignity. 3. The Three Steps of Service are the foundation of Ritz-Carlton hospitality. These steps must be used in every interaction to ensure satisfaction, retention and loyalty. 4. The Employee Promise is the basis for our Ritz-Carlton work environment. It will be honored by all employees. 5. All employees will successfully complete annual training certification for their position. 6. Company Objectives are communicated to all employees. It is everyone’s responsibility to support them. 7.To create pride and joy in the workplace, all employees have the right to be involved in the planning of the work that affects them. 8. Each employee will continuously identify defects (M. R. B. I. V. ) throughout the Hotel. 9. It is the responsibility of each employee to create a work environment of teamwork and lateral service so that the needs of our guests and each other are met. 10. Each employee is empowered. For example, when a guest has a problem or needs something special, you should break away from your regular duties to address and resolve the issue. 11. Uncompromising levels of cleanliness are the responsibility of every employee. 2. To provide the finest personal service for our guests, each employee is responsible for identifying and recording individual guest preferences. 13. Never lose a guest. Instant guest pacif ication is the responsibility of each employee. Whoever receives a complaint will own it, resolve it to the guest’s satisfaction and record it. 14. â€Å"Smile – We are on stage. † Always maintain positive eye contact. Use the proper vocabulary with our guests and each other. (Use words like – â€Å"Good Morning,† â€Å"Certainly,† â€Å"I’ll be happy to† and â€Å"My pleasure. †) 15. Be an ambassador of your Hotel in a n d o u t s i d e o f t h e wo r k p l a c e .Always speak positively. Communicate any concerns to the appropriate person. 16. Escort guests rather than pointing out directions to another area of the Hotel. 17. Use Ritz-Carlton telephone etiquette. Answer within three rings with a â€Å"smile. † Use the guest’s name when possible. When necessary, ask the caller â€Å"May I place you on hold? † Do not screen calls. Eliminate call transfers whenever possible. Adhere to voice mail standards. 18. Take pride in and care of your pers o n a l a p p e a r a n c e . E v e r yo n e i s responsible for conveying a professional image by adhering to RitzCarlton clothing and grooming standards. 19.Think safety first. Each employee is responsible for creating a safe, secure and accident free environment for all guests and each other. Be aware of all fire and safety emergency procedures and report any security risks immediately. 20. P r o t e c t i n g t h e a s s e t s o f a R i t z Carlton hotel is the responsibility of every employee. Conserve energy, properly maintain our Hotels and protect the environment.  © 2000, The Ritz-Carlton Hotel Company, L. L. C. All Rights Reserved Figure 1 The Ritz-Carlton Hotel Company, L. L. C. 1999 Application Summary 3 Fond farewell. Give them a warm good-bye and use their names, if and when possible.THE EMPLOYEE PROMISE The Ritz-Carlton Hotel Company, L. L. C. 1999 Application Summary The Ritz-Carlton Chronology of Performance Excellence Genesis 1890’s Caesar Ritz defines Standards for a Luxury Hotel Apprentice Programs, Inspection/Audit by the Master 1900 General Manager Concept Delegation of Quality to Functional Managers Managers Plan / Workers Do 1980 1983 Extensive Participation of Horst Schulze in the Management of Quality †¢ The Credo †¢ Basic Standards for The Ladies and Gentlemen †¢ A Passion for Excellence 1988 1989 MBNQA Audits and Feedback Business Excellence Roadma p (Figure 3) Involving People in the Planning f the Work that Affects Them 1999 100% Employee Pride & Joy Zero Customer Difficulties 100% Customer Loyalty Figure 2 2003 3 The Ritz-Carlton Business Excellence Roadmap Deployment â€Å"Do† Results â€Å"Check† Improvement â€Å"Act† A Passion for Excellence Senior Leaders â€Å"Start-Up† new hotels Performance Evaluations Development / Training Plans Distribution of â€Å"The Pyramid† Leadership Center Daily Reinforcement of The Gold Standards 1. Leadership Approach â€Å"Plan† The Seven Pyramid Decisions MBNQA Developmental Job Assignments Basic Empowerment Process Divide/Subdivide Objectives Select Process Owners Actual versus Planned performance comparedQuarterly by Upper Managers at the corporate and hotel level Act on the Differences Evaluate / Improve Planning Process Develop Processes Provide Necessary Resources Daily Operations review by the workforce 4 3. Customer and Market Focus Mark et Research that concentrates on the quality of the hotel facility and operations 6P’s Concept Operation of the â€Å"CLASS† Database Daily Hotel Measurement †¢ SQI †¢ RevPAR by Market Segment Evaluate / Improve Annually Standard Performance Measurement Monthly Measurement †¢ Advance Bookings †¢ Customer Satisfaction †¢ RevPAR †¢ P&L 4. Information and Analysis Selecting Performance Measurements for: Upper Managers †¢ Daily Operations Individual Process Owners select Performance Measurements for: †¢ Upper Managers †¢ Daily Operations Comparative Benchmarking Share/Replicate Best Practice Performance, On-Going Figure 3 Statistically Trained Employees, Consulting Specialists Continuous Improvement The Ritz-Carlton Hotel Company, L. L. C. 1999 Application Summary Fact-based Strategic Objectives Fact-based Key Process Identification 2. Strategic Planning The Ritz-Carlton Business Excellence Roadmap MBNQA 5. Human Resources Devel opment and Management Approach â€Å"Plan† Results â€Å"Check† Improvement â€Å"Act† Employee Education, Training andDevelopment Q. S. P. Site Visits by Senior H. R. Leaders Day 21/365 Training Certification Review Performance Appraisal Evaluations Analysis of Employee Surveys Analysis of Employee Surveys 6. Process Management Manage Key Production and Support Processes Incorporate changing Customer requirements P. Q. I. 5 S. Q. I. Major changes that require project management The GreenBook Process Audits Incremental Day-to-Day Improvements Actual versus Planned Performance compared quarterly by Senior Leaders at the corporate and hotel level Continuously and Forever Improve Process Owners Modify Processes for each new hotel 7. BusinessResults Strategic Objectives define long-term targets Lead People Manage Processes Tactical Processes set annual targets Standard Performance Measures Daily Operations Review by the workforce Figure 3 (continued) The Ritz-Carlto n Hotel Company, L. L. C. 1999 Application Summary Jobs are designed so our people: †¢ Know what to do †¢ Know how well they are doing †¢ Can regulate the process or their own personal conduct Deployment â€Å"Do† The Ritz-Carlton Hotel Company, L. L. C. 1999 Application Summary Leadership as The Gold Standards, Figure 1, page 2. These standards consist of: (1) The Credo (2) The Basics (3) Three Steps ofService (4) Motto and most recently, (5) The Employee Promise. These standards have had a long life with only The Basics changing with business conditions. Our Senior Leaders continue the strong excellencedriven leadership that began in 1983 and resulted in us becoming a recipient of the 1992 Malcolm Baldrige National Quality Award. In the years following the award they actually increased their involvement in both the improvement and operation of our structured approach to business excellence. A summary of this business excellence roadmap is shown in Figure 3, p age 4. Collectively, these standards have an incredible empowering effect on TheRitz-Carlton Ladies and Gentlemen to think and act independently with innovation for both the benefit of the customer and our organization. Approach â€Å"Plan† Since The Credo stresses â€Å"providing the f inest and anticipating the unfulf illed wishes of our guests,† The Ritz-Carlton Ladies and Gentlemen continually learn and innovate. The Three Steps of Service, combined with our basic empowerment process shown below in Figure 1. 2 promotes innovative, quick personal service. Our Senior Leaders have a passion for excellence, largely because of: (1) the performance expectations of Horst Schulze (2) our Gold Standards and (3) the Pride and Joy of chieving excellence. The seven specific decisions made by our Senior Leaders, collectively, to set direction for business excellence are shown below: 1. 2. 3. 4. 5. 6. 7. Deployment â€Å"DO† The specific actions taken by our Senior Leader s to deploy our leadership approach consist of three major processes: 10 Year Vision 5 Year Mission 3 Year Objectives 1 Year Tactics Strategy Methods Foundation 1. Since 1984, all members of Senior Leadership have personally ensured that each new hotel’s goods and services are characteristic of The Ritz-Carlton on opening day. Since six to seven hotels open each year, our leaders pend at least six to seven weeks working with our Ladies and Gentlemen (using a combination of hands-on behavior modeling and reinforcement) during the seven day countdown to opening. This includes the President and COO who personally demonstrates the guest/employee interface image and facilitates the first vision statement The process for providing our Senior Leaders with the necessary data and analysis to make these key decisions is explained fully in the Strategic Planning section. It is worth mentioning that our Senior Leaders personally established our foundation, which is now referred toThe Bas ic Empowerment Process Three Steps of Service 1 Warm Welcome 2 Anticipation and Compliance with Guest Needs Employee Senses Guest Wish or Need Employee Breaks Away from Routine Duties Employee Applies Immediate Positive Action Determine Guest Reaction If Satisfied If Dissatisfied 3 Fond Farewell Document the Incident Employee Returns to Routine Duties Figure 1. 2 6 Guest Memory System Escalate the Complaint The Ritz-Carlton Hotel Company, L. L. C. 1999 Application Summary Results â€Å"Check† session for each newly formed department. During these formative sessions which all employees must attend, thePresident and COO personally interacts with every new employee both individually and in a group setting. His in-depth knowledge of hotel operations and enthusiasm for The Gold Standards are an inspiration for all concerned. Leadership effectiveness is evaluated (1) On key questions of our semi-annual employee satisfaction results (these questions reveal if the respective leader h as gained the full support of the Ladies and Gentlemen regarding our Gold Standards). (2) Through audits on public responsibility (i. e. Life Safety Systems, Security Systems, Food Preparation and Alcoholic Beverage Service, Environmental Stewardship). . The results of the seven specific decisions from the annual strategic planning process are arranged in a â€Å"Pyramid Concept† and distributed throughout the organization. The 2000 Pyramid is shown in Figure 1. 3. Improvement â€Å"Act† Gaps in leadership effectiveness are ad3. The Gold Standards are reinforced daily dressed with development/training plans. For in a variety of forums which include: (1) widespread deficiencies, the corporate human lectures at new employee orientation (2) resource function develops/improves courses, developmental training (3) daily line-up processes or facilities.As a result, we have 10 YEAR VISION meeting (4) administration of both posdeveloped a leadership center at Corporate To be Th e itive and negative reinforcement (5) Headquarters. In addition, we make exPremier Worldwide mission statements displayed (6) distensive use of developmental job assignProvider of Luxury tribution of Credo Cards (7) The ments. Credo as first topic of internal Travel and Hospitality Prodmeetings and (8) peer pressure. ucts and Services 5 YEAR MISSION Product and Profit Dominance OBJECTIVES T h e V i t a l – Fe w O b j e c t i v e s TACTICS Key Production and Business ProcessesSTRATEGY C u s t o m e r a n d M a r k e t Fo c u s S t r a t e g y w i t h Action Plans METHOD TQM – Application of Quality Sciences  · M a l c o l m B a l d r i g e N a t i o n a l Q u a l i t y Aw a r d C r i t e r i a  · T h e G r e e n B o o k – 2 nd E d i t i o n FOUNDATION Va l u e s a n d P h i l o s o p h y – T h e G o l d S t a n d a r d s Credo  · Motto Three Steps of Service  · Basics  · Employee Promise Copyright  © 2000 by THE RITZ-CARLTON HOTEL COMPANY, L. L. C. – All Rights Reserved Figure 1. 3 7 The Ritz-Carlton Hotel Company, L. L. C. 1999 Application Summary Strategic Planning Planning ProcessAt The Ritz-Carlton, Strategic Development is the process that enables Senior Leaders to make specific decisions that set direction for Business Excellence. 1 Macro Environment Analysis Confirm/Modify Vision, Mission, Strategy, Methods, Foundation Approach â€Å"Plan† A description of the three major components of our planning process, including the pre-work known as the Macro Environment Analysis, is show in Figure 2. 1. Macro-Environment Analysis This extensive analysis is done to understand the current state (and expected future state) of the Macro Environment in which we operate our company.The key result of the analysis is a projection of the future state of The Ritz-Carlton relative to competitors and the expectations of hotel owners in primary performance areas. Subsequently, gaps are identified. 2 Select RITZ-CARLTON Str ategic Mandates 3 Develop RITZ-CARLTON â€Å"VitalFew† Objectives and Targets March—June Figure 2. 1 Step 1 March – June Using the Macro Environment Analysis, Senior Leaders confirm the 10 Year Vision, 5 Year Mission, Strategy, Methods and Foundation or make changes. Step 2 March – June Deployment Process 5 1 Reinforce Pyramid Concept/ Plans/Budget Develop Production Processes 6Using the Macro Environment Analysis, strategic mandates are identified along with gaps in performance. Step 3 March – June The strategic mandates and the gaps identified in the Macro Environment Analysis are used to create the Vital-Few Objectives for the next three years. The Objectives are designed to address the projected gaps identified in the Macro Environment Analysis and to maintain or enlarge The Ritz-Carlton advantage over competitors where these advantages exist. VitalFew Objectives are separated into multiple categories for two purposes: (1) respond to the Strate gic Mandates and (2) represent all who are ffected by The Ritz-Carlton. The output of this step becomes our Pyramid (Figure 1. 3, page 7). Communicate Pyramid Concept to the Ladies and Gentlemen 2 Deploy Support Processes 7 Execute Plans 8 3 Develop Preliminary Plans / Budgets for L. L. C. and Hotels Daily Line-Up Reinforcement on-going throughout the year 9 Evaluate/Improve Planning Process 4 Finalize RITZ-CARLTON Pyramid Plan, Budgets for L. L. C. and Hotels Conduct Monthly Reviews of Plan at all levels. Collect information for the next cycle. October—February July—September Figure 2. 2 8 The Ritz-Carlton Hotel Company, L. L. C. 999 Application Summary Deployment â€Å"DO† Activities that have been agreed upon are then tied into our financial planning and budget process. The specific actions by Senior Leaders to deploy the Vital-Few Objectives are shown in Figure 2. 2. Steps 5 – 7 October – February Step 5 occurs during our semi-annual General Ma nagers meeting which sets in motion steps 6 and 7. Step 1 July – September Key Production processes are identified by three criteria: (1) work that ranks very important to customers (2) work that is rising in importance to customers and (3) work that is poor in comparison to competitors.These processes must then be developed and deployed. This is done by process owners at the corporate level. For a discussion of these processes and how they are developed see Section 6, Process Management. Step 8 On-Going Throughout the Year Every day, in every work area, on every shift, a brief line-up meeting is held. During these formative sessions, the Pyramid Concept is deployed, The Gold Standards are reinforced and good ideas are shared. Step 9 Annually Step 2 July – September Each year the Vice-President of Quality is responsible for evaluating and improving the Strategic Planning Process.Benchmarking other Baldrige recipients is used extensively for continuous improvement. Supp ort processes are deployed to the support functions of the organization. These processes indirectly affect our products and enable us to reach our Vital-Few Objectives. These processes are also developed/deployed by corporate process owners at the corporate office. Results â€Å"Checks† Monthly performance reviews of the the Strategic Plan are conducted by the upper managers at the corporate and hotel level. The framework of a typical review is shown in Figure 2. , which focuses on the pre-established performance indicators of the Vital-Few Objectives as well as key processes. This information allows us to easily make improvements and benchmarking comparisons which are discussed in Category 4. Steps 3 – 4 July – September To bring out into the open the resources required to reach our Vital-Few Objectives, we involve the Ladies and Gentlemen of The Ritz-Carlton. First, we communicate the measures and targets of our Vital-Few Objectives to lower levels of the orga nization. The lower levels then identify the deeds, that if done, will collectively meet the objectives.The lower levels also â€Å"submit the bill† to perform these deeds. Focus Indicators What’s Reviewed Employee Pride & Joy †¢ Key Survey Questions †¢ Turnover Actual versus Plan / Trends Customer Loyalty †¢ Overall Customer Satisfaction †¢ Customer Difficulties Revpar / P&L †¢ Advance Bookings †¢ Market / Business Performance Actual versus Plan / Foremost Competitor, Trends Actual versus Plan / Industry Trends Key Processes †¢ Key Production and Actual versus Support Processes Plan / Trends Figure 2. 3 Process Owner †¢ Human Resource Director †¢ Operations Director †¢ Quality Director †¢ Marketing Director †¢ Finance Director Functional Leaders 9 The quarterly performance reviews are translated into opportunities for improvement and innovation. These decisions are determined by process owners with assistance from the special organization of Directors of Quality. Widespread understanding and involvement of findings and actions are deployed to lower levels through: (1) the traditional hierarchy (2) process owners and teams and (3) Commitment to Quality newsletters. Another form of improvement is the evaluation of the Strategic Planning Process. The Vice-President of Quality is responsible for developing, benchmarking and improving his process. The Ritz-Carlton Hotel Company, L. L. C. 1999 Application Summary Customer and Market Focus A particularly noteworthy tool that we use is CLASS (an automated â€Å"memory system† that links returning guests to their preferences). The practice of remembering regular guests creates lasting relationships, which is a major competitive advantage for us. The types of information stored in the CLASS database are given in Figure 3. 2 . At The Ritz-Carlton, customer and market focus concentrates on the information needed for hotel development and ope ration explained in Section 6, Process Management.Approach â€Å"Plan† In addition, we utilize other information technology: (1) DFS (2) Product Quality Indicators (PQI) and (3) Service Quality Indicators (SQI), explained in the next Section, Information and Analysis. The many needs and sources of this information (i. e. market research) are summarized in Figure 3. 1. Needs and Sources of Market Research at The Ritz-Carlton Needs for Market / Customer Information Brought to our Attention Readily Available but Requires Analysis Determination of Market Segments †¢ Sales and Marketing function ranks potential and current customers by volume, geography and profit Analysis of â€Å"CLASS† database Identifying Potential Customers Relative Priorities of Customers †¢ â€Å"Automated Memory System† that links returning guests to their preferences Widespread Customer Dissatisfaction Competitive Quality Status Opportunities for Improving RevPAR through Quality â € ¢ Alliances with Travel Partners (Airlines, Credit Card Companies, Convention Bureaus, etc. ) †¢ Same as above †¢ Focus Groups †¢ Customer Satisfaction results †¢ Use of Information Technology †¢ DFS Demand Forecast Individual Dissatisfaction of Customers Must be created by a Special Study †¢ Complaints, Claims, ClientAlerts, Feedback from the Salesforce, Summarized in the SQI/PQI †¢ Pareto analysis of the SQI and PQI †¢ Ratings from Customers, Star Report, Salesforce reports †¢ Summary of above analysis †¢ Summary of above †¢ Criteria, Rating and Awards from Travel Industry publications †¢ Pareto analysis to identify major causes of customer dissatisfaction Figure 3. 1 10 †¢ Interviews with customers †¢ World-Class customer and employee satisfaction data †¢ Special psychological studies to understand: 1. What Customers mean, not what they say 2. How to appeal to the customer in the language they most und erstandThe Ritz-Carlton Hotel Company, L. L. C. 1999 Application Summary Deployment â€Å"DO† to remember returning guests and generate essential preference and schedule information to all concerned. In this way, the Ladies and Gentlemen of The Ritz-Carlton and our suppliers understand what is â€Å"new or different† about each individual customer or event. The specific actions taken by our Sales and Marketing Leaders to deploy our Market Research conclusions consist of four major processes: (1) The 6 P’s Concept (2) Operation of the CLASS database (3) Complaint Resolution Process and (4) Standard Performance Measurements.Standard Measurements The Six P’s Concept The major components of our Sales and Marketing Performance Management System are shown in Figure 3. 3. Since these measures both precede and lag the operation they are both forward-looking and reaction based. After we gain a full understanding of our market segments, customers and their relative priorities, we develop and distribute, internally, a 6P’s Concept. The concept consists of: (1) Problem or need of the Customer (2) Product (what is it) (3) Promises (what it can do for the customer) (4) Personal Advantage (what can the customer do because of it) 5) Positioning (the benefit of it versus the competition) and (6) Price/Value (what customers must give up in time or money to get it). These concepts lay the groundwork for process design. Subject Advance Bookings The 6P’s concept typically creates a vision of wellbeing, which results from the purchase of Ritz-Carlton products – genuine care, comfort and prestige. By disseminating this information into the marketplace, we reinforce an aura of competence. Service Quality Indicators (SQI) measure The Gold Standards Revenue Per Available Room (RevPAR) Customer Satisfaction Determination The P&L StatementFigure 3. 3 Operation of the CLASS Database Precede / Lag Operations Precedes up to several years Lags by One Day Results â€Å"Check† A major challenge faced by The Ritz-Carlton is to remember each of its 800,000 plus customers. In response, a special organization exists in each of our hotels called Guest Recognition. This special function uses the CLASS database Lags by One Day Lags by 45 Days Lags by 40 Days The effectiveness of our Customer and Market Focus is evaluated through reviews of our standard performance measures daily, monthly and annually. Daily reviews at hotels consist of SQI and RevPAR y market segment and performance. †¢ †¢ †¢ †¢ †¢ Likes/Dislikes Previous Difficulties Family Interests Personal Interests Preferred Credit Cards Recency/ Frequency of Use †¢ By Hotel †¢ All Hotels Lifetime †¢ Usage †¢ Amount of Purchase Monthly reviews at all levels consist of Advance Books, Customer Satisfaction, RevPAR by Market Segment and the P&L Statement. Knowledge of Individual Customers, Stored in CLASS Database Annual revie ws at the corporate level are contained in our Strategic Planning Pre-Work, Macro Environment Analysis. Improvement â€Å"Act† The daily and monthly reviews identify performance gaps to be corrected.The extensive analysis of the Macro Environment Analysis drives confirmation or changes in marketing strategy, objectives and plans. Figure 3. 2 11 The Ritz-Carlton Hotel Company, L. L. C. 1999 Application Summary Information and Analysis The PQI are our Product Quality Indicators, which consist of the 10 most serious defects that can occur in the development phase of a new Ritz-Carlton Hotel, listed in Figure 4. 4. Approach â€Å"Plan† Two basic types of measurements are used at The Ritz-Carlton: (1) organizational measurements for upper managers at both the corporate and hotel levels and (2) operational (i. . process) measurements for planning, assessing and improving daily operations. A further distinction in our measurement is whether it provides information before, dur ing or after operations (Figure 4. 1–4. 3). PQI Defects 1. Sub-Standard Management Contract 2. Missing / Wrong Concepts 3. Late Feasibility Study 4. Wrong / Late Schematic Design 5. Detailed Design Changes 6. High-Risk Facility Suppliers 7. Late Construction Days 8. Missing / Inadequate Key Production and Support Processes 9. Inadequate Pre-Sales Results 10. Inadequate Caring Mindset of Employees Figure 4. 4Before Operations Measures Subject MacroEnvironment Analysis Unit of Measure Summaries of Performance, Money, Ratios, Indexes New Hotel Development Defect Points (i. e. PQI) Daily Variable Demand Production/Hours worked ratio Use Annual Input for Senior Leaders to reset organizational and operational measures Measures for Senior Leaders to plan, assess and improve each new hotel development Plan daily operations and pricing Since our customer requirements extend beyond the functional to the sensory (which are difficult to measure), we rely on The Gold Standards to measure quality during operations.Most of these measures are used by line level employees. We can do this effectively since the workforce is selected, trained, certified, reinforced and rewarded through our Gold Standards, This qualifies them to design the appropriate sensory measurements that allow them to assess their work and take appropriate actions. Figure 4. 1 The SQI are our Service Quality Indicators, which consist of the 10 most serious defects that can occur during the regular operation of a Ritz-Carlton hotel. The seriousness of each defect is weighted by a point value listed in Figure 4. 5. During Operations Measures SubjectThe Gold Standards Unit of Measure Taste, Sight, Smell, Sound, Touch Use Operational measures for the individual Employee to Plan, Assess and Improve their Work SQI Defects 1. Missing Guest Preferences 2. Unresolved Difficulties 3. Inadequate Guestroom Housekeeping 4. Abandoned Reservation Calls 5. Guestroom Changes 6. Inoperable Guestroom Equipment 7. Unread y Guestroom 8. Inappropriate Hotel Appearance 9. Meeting Event Difficulties 10. Inadequate Food/Beverage 11. Missing/Damaged Guest Property / Accidents 12. Invoice Adjustment Figure 4. 5 Figure 4. 2 After Operations Measures Unit of Measure OrganizationalPerformance Indicators, Money, 1–5 Scale, Percentages Key Production Weighted Defect Points (SQI) and Support Production/Hours Processes worked ratio Revenue per Available Room Figure 4. 3 Subject Vital-Few Objectives Use Improve Organizational Performance Improve Daily Operations Points 10 50 1 5 5 5 10 5 5 1 50 3 The total number of occurrences is multiplied by the weight, totaled and divided by the number of working days applicable to obtain an average daily point value. The average daily point value is disseminated to the workforce daily. Improve Pricing Policies 12 The Ritz-Carlton Hotel Company, L. L.C. 1999 Application Summary Comparative Benchmarking process owners to each metric associated with key production and sup port processes. There are three types of comparative data at The Ritz-Carlton: (1) comparisons to industry and our foremost competitor (2) benchmarks outside our industry and (3) benchmarks inside our company. Since we began formal benchmarking in the 1980’s, we have found this highly useful as it has pushed us over the years to even higher target levels of performance and roadmaps to get there. Figure 4. 6 details the sources of this data and the types of information that are analyzed.Since these process owners are heavily involved in designing the architecture of the data and information that they review, rarely do they see a fact or figure presented in a way they don’t understand. Results â€Å"Check† Since we place such a strong emphasis on fact-based decision making, reliability of the data is critical. We rely on our highly trained Ladies and Gentlemen (including statistically trained at all levels) to insure data and information reliability. At the corpor ate level, we assign individual process owners to assure data can withstand scrutiny and provide background information.We also retain third-party specialists to provide independent reviews of information analysis and processes. Deployment â€Å"DO† The specific actions taken by Senior Leaders to deploy the information and analysis approach is based on the concept of individual process owners. Individual Process Owners Improvement â€Å"Act† Our Senior Leaders and Hotel Guidance Teams have the high level organizational performance data they need because we assign individual owners to each metric associated with the Vital-Few Objectives. In addition, our Vice-President of Quality keeps our performance measurements current with business needs.Whenever our process owners and consulting specialists indicate a change of plan is needed, the plans are rewritten, rebudgeted and reapproved. Our Ladies and Gentlemen, on a daily basis, identify and implement improvements in perfo rmance measurement as expected in our culture and facilitated through the training and performance management programs outlined in Category 5. Our Ladies and Gentlemen have the operational performance data they need daily because we assign individual Sources of Comparative Data Internal Source External Information Source Each Hotel’s measurements in the areas RCHC of employee satisfaction, customerInformation, Analysis System satisfaction, RevPAR and operational performance are compared Information Ritz-Carlton Marketing and Finance RCHC functions compare us against our Information, Analysis System competitors in the area of market and business performance Process Champions Operations, Human Resources, Baldrige Award Marketing and Finance leaders drive Winners best practices and processes both up and down the organization Annually, the VP of Quality studies comparative data and best practices Regional VP Meeting These periodic meetings focus on review Kaznova of performance t o plan ConsultantsWorld-class benchmarks New Hotel Start-Up When Ritz-Carlton managers are assigned as trainers in a new hotel, they learn and share best practices Travel Publications, AAA, Mobil Criteria to identify industry trends and performance Best Practice Sharing Any â€Å"new idea† implemented is shared Mayflower company-wide via E-mail. Results and Group Improvements are communicated in the daily Commitment to Quality newsletter Travel Industry Criteria and Publications Figure 4. 6 13 The VP of Human Resources compares us to America’s most-admired companies (i. e. Fortune 500 and Baldrige winners) in the area of Employee SatisfactionThe Ritz-Carlton Hotel Company, L. L. C. 1999 Application Summary Human Resource Approach Human Resource Focus Skilled and Empowered Work Force Operating with Pride and Joy Our human resource approach is summarized in Figure 5. 1, which is the well-established model that underpins and aligns our various human resource philosophies and programs. Ritz-Carlton Work Environment Approach â€Å"Plan† Ritz-Carlton Human Resources Fundamentals Our Senior Leaders decided to increase both the meaning and satisfaction our people derive from their work. This approach consists of three basic components: (1) ourLadies and Gentlemen know what they are supposed to do (2) they know how well they are doing and (3) they have the authority to make changes in the process under their authority or their own personal conduct. †¢ Quality Selection Process †¢ Orientation †¢ Training Certification †¢ Line-up and daily training †¢ Communication †¢ Personal and professional development †¢ Work/life issue management †¢ Job Enlargement †¢ Career progression †¢ Performance measurement †¢ Legal compliance †¢ Employee Rights †¢ Issue Resolution Process †¢ Reward and Recognition Know What They are Supposed To Do At Ritz-Carlton our Ladies and Gentlemen know hat they are supposed to: (1) learn and use The Gold Standards (2) master the procedures of their job (i. e. Training Certification) and (3) generate ideas to improve products, services and processes. Know How Well They Are Doing Figure 5. 1 We keep our Ladies and Gentlemen informed on how well they are doing in many forms. They receive coaching from managers and peers on individual tasks throughout the day. Our education and training is designed to keep individuals up to date with business needs. The Corporate Director of Training and Development and the Hotel Directors of Training and Development have the responsibility to make ure that training stays current with business needs. To do this, they work with Human Resource and Quality Executives who input organization and job performance training requirements or revise existing ones. The flow of this process is shown in Figure 5. 2. Key developmental training needs are addressed through a core of courses that all employees receive. Daily, th ey receive information from the SQI report. Finally, they receive semi-annual performance appraisals on their general performance. The Authority to Make Changes The ability of our Ladies and Gentlemen to regulate ow work gets done is assured through Basic Standards set out in The Credo Card, â€Å"People have the right to be involved in the planning of the work that affects them†. All employees (regardless of their level in the company) receive the same mandatory two day orientation process, which includes classroom type training on The Gold Standards and The GreenBook (page 16). Deployment â€Å"DO† As shown in Figure 5. 2, we use input from employees and their supervisors in determining educational needs primarily via a review and analysis of our performance appraisal documents.The Hotel Director of Training and Development and the Quality Trainers also receive and consider direct feedback from Ritz-Carlton personnel. When training is designed, it is piloted and appr oved in a fashion similar to the new product and service development process described in Category 3. Participants in the pilot provide direct, candid feedback to the designers and instructors. The specific actions taken to deploy our approach range across a broad spectrum, but most significant activities consist of: (1) The Quality Selection process and (2) Employee Education, Training and Development.Our President and COO started as a waiter’s apprentice in Europe, and many of our executives started as front line personnel in Ritz-Carlton Hotels and were promoted as they rotated jobs. Therefore, training receives the highest attention in our company. 14 The Ritz-Carlton Hotel Company, L. L. C. 1999 Application Summary Departmental Trainer Evaluate Student Reaction/Needs Managers/Training Director Evaluate Performance appraisals/training results Vice-President, Quality Determine Organizational Performance Excellence Requirements Vice President, Human Resources Determine Orga nizationalDevelopmental Training Requirements Corp Director of Training and Development The Ritz-Carlton Design of Courses Confirm/Modify existing processes/Facilities Develop/Improve Courses/Processes/Facilities Project Team Codeveloped with supplier of new equipment/ Technology Outsource Figure 5. 2 â€Å"themes† of each job. The graph also contains comparative data which consists of industry and Ritz-Carlton norms. Although job induction training is classroom delivered by the Director of Training and Development and the General Manager, most training delivery is on-the-job. This onsists of: (1) daily line-up (2) self-study documents (3) developmental assignments and (4) training certification. Most training is evaluated through examinations, while other methods include audits, performance reviews and appraisals. Day 21 21 days after orientation, each orientation class reunites for a day of evaluation and debriefing. A similar session occurs on or near day 365. Approximatel y 80% of the training received by The Ritz-Carlton Ladies and Gentlemen is from in-house sources which allows us to have direct control over the method of training delivery and evaluation.