Amusement Park Industry Essay Example for Free

Amusement Park Industry Essay †¢ The amusement industry in India is at a growing stage currently with more and more developments happening in this industry all across the country. †¢ The size of the Indian Amusement Park business is estimated to be around Rs 4000 crores and is estimated to grow by 10% per cent per annum till 2010. †¢ The amusement and theme park industry is deemed to be worth Rs. 10000 crores in India by 2020. Janaki Rao. U Analyst Equity Research Desk [emailprotected] com †¢ Currently for a population of 1. 15 billion in the country, there are only 120 amusement parks and 45 Family Entertainment Centers. This indicates that the growth potential of Indian amusement and theme park industry is substantial. †¢ Global leaders in entertainment parks and attractions like Universal Studios, Disney, Sony and Ripley Entertainment are mulling over investments of billions of dollars in India considering the vast potential in this region. Private equity funds are also aggressively dedicating resources towards this sector. †¢ The Indian small and big players in the Amusement Industry are looking at the tremendous growth potential of this industry in the next 5 years. †¢ Growth of Indias retail sector had been the main driving force for the amusement industry in India. †¢ Globally, domestic and international tourists comprise more than 50% of the total footfall at popular amusement parks. †¢ Transport corridors like expressways and the Metro line are bringing an increasing number of people closer to entertainment hubs. †¢ The high growth potential of the industry in highly populated India will boost tourism, social infrastructural development as well as employment generation. The success and growth potential of this industry is resulting into the advent of new manufacturers of amusement parks rides in India. V. S. R. Sastry Vice President Equity Research Desk 91-22-25276077 [emailprotected] com Dr. V. V. L. N. Sastry Ph. D. Chief Research Officer [emailprotected] com 1 22nd May, 2010 CONTENTS 1. Sector Overview 2. Current Trends 3. Profile of top three Indian Companies 4. SWOT Analysis 5. Conclusion 2 22nd May, 2010 1. Sector Overview Structure Development The amusement and theme park industry in India is about two decades old and it is relatively new when compared to its origin in USA Europe. This industry found its roots in India during mid and late 1980s when a few innovative entrepreneurs took challenge of pioneering few amusement parks in Delhi, Kolkata, Mumbai and Chennai. The growth in this industry started only in the last decade and that happened possibly during the advent of globalization when economic potential of the social capital began to be perceived. A recent market survey research shows that this industry in India is growing at a rapid pace and over 120 amusement parks and water parks are currently in operation in India. Out of them only 15% can be classified in the large parks category, 30% as medium size parks and balance 55% are small size local parks. Investments to the tune of Rs 10,000 crore are likely to flow into the domestic amusement and leisure sector by 2020 with about 500 new parks are expected to come up across the country. The Rs 4,000-crore Indian amusement and leisure industry expects fresh investment of Rs 10,000 crore by the year 2020. In terms of employment generation, the new parks are likely to create jobs for six crore man-hours per month. It is estimated that the total capital investment made in the amusement and theme park industry in India till date, is more than INR 40 billion (excluding investment on land). The estimated annual revenue generated by this industry is approx INR 20 billion, at present, which is expected to grow to almost three times by the year 2020 at a CAGR of over 11%. 3 22nd May, 2010 Amusement Parks are recreational facilities that offer a varied range of entertainment options ranging from theme parks to spine chilling roller coaster, 3D theater to giant wheel, in a cluster format. These parks provide one-stop-shop leisure and entertainment solutions for the entire family at one place and are a key source of tourist attraction (domestic and foreign) and revenue generation for the State. The demand for entertainment options such as amusement parks, I-max, shopping malls are rapidly increasing across the Country. The key demand drivers for the segments are rising base of middle class, increasing disposable income, changing lifestyle, cultural shift and increasing emphasis to lead a holistic life with a balance of work and leisure. Tourism- Amusement parks. During the last decade domestic tourism had grown @ 14% on an average and currently it is estimated at 527 million. Out of this, the amusement park industry generated only 15 million footfall during last year. Globally, domestic and international tourists comprise more than 50% of the total footfall at popular amusement parks. We can, therefore, expect that there would be manifold increase in footfall in amusement parks in India as the large parks in India are gradually converting themselves to larger destination parks with additional investments following the foot steps of large global parks. Currently for a population of 1. 1 billion in the country, there are only 120 amusement parks and 45 Family Entertainment Centres. This indicates that the growth potential of Indian amusement and theme park industry is substantial. The high growth potential of the industry in highly populated India will boost tourism, social infrastructural development as well as employment generation. The success and growth potential of this industry is resulting into the advent of new manufacturers of amusement parks rides in India. 4 22nd May, 2010. Today, Indian manufacturers can produce international standard quality products at a competitive price for both the domestic and the global market. Both these areas have good potential. Amusement parks have not received their due recognition for their enormous potential as an infrastructural facility for tourism. The amusement industry worldwide is a very significant part of the tourism effort. In India, the tourism policy does not address the needs and the potential of the amusement industry. As such, today the amusement industry in India receives no special incentives. Recreation Industry Amusement parks Recreation Industry is currently one of the most exciting sectors in India. The current market for leisure is estimated to cross USD 1 bn in next few years. The leisure industry mainly consist of amusement park, malls family entertainment centers (FECs) and multiplexes. The present consumer base is estimated around 30 million people. At present there are around 200 FECs in the Country and the number is expected to grow to 400 in the next couple of years. Amusement parks contribute nearly 40% of the total leisure industry turnover. Through the years though there is a healthy growth, but at the same time it is burdened by local entertainment tax ranging from 10 to 25 per cent in various states. Further if any imposition of Central Tax like Service Tax will cripple the whole industry. The industry can absorb either of the taxes and not both, he stated. Further he urged to make amusement industry an integral part of tourism and development in India at the Central Government Level. Recreation Industry is currently one of the most exciting sectors in India. The current market for leisure is estimated to cross USD 1 bn in next few years. The leisure industry mainly consist of amusement park, malls family entertainment centers (FECs) and multiplexes. The present consumer base is estimated around 30 million people. 5 22nd May, 2010 At present there are around 200 FECs in the Country and the number is expected to grow to 400 in the next couple of years. Amusement parks contribute nearly 40% of the total leisure industry turnover. Retail- Amusement parks Growth of Indias retail sector had been the main driving force for the amusement industry in India. Famous Ten Amusement parks in India: 1. Veegaland Park Situated at Pallikkara, this state of art Amusement Park is just 14kms away from Kochi/Cochin. Spread over a whooping 24 acres of land, its 7 storey high Vintage Castle and Caterpillar Village give a Fairy Tale atmosphere. The musical Fountains, flower gardens, water pool and water slides add to the attraction of the Veegaland Amusement Park. 6 22nd May, 2010 2. Ocean Park Ocean Park is situated at Gandipet, 20 km. from Hyderabad, in 20 acres of landscaped gardens, an amusement park that you havent seen the likes of yet in India. It is one of the first theme parks started in twin-cities and continues to be a great hit especially with children. But it is not the young ones alone who enjoy, even adults can have lots of fun here. It is a family amusement park offering a good mix of fun and thrills for people of all ages with water rideskiddies pool, wave pool, water slides, dry rides- super loop, the 60 feet high ride, bumping cars, slam bomb etc. . 7 22nd May, 2010 3. Ramoji Film City Ramoji Film City is the ultimate leisure destination for holidays, honeymooners, corporate conferences, events, theme parties, adventure camps, family picnics and grand weddings. this world s largest integrated film studio complex spread over 2000 acres of land. It was opened by the Film Producer Ramoji Rao in the year 1996. It’s about 25 kms from the main city of Hyderabad and is open the 7 days of a week. The Film City Complex has urban landscapes of US and Australia as well as India. They have the Amazon Army Base as the newest additions to the attractions of the Film City. 8 22nd May, 2010 4. Fun n food Village Fun N Food Village at Delhi was set up in the year 1993. Fun N Food Village is situated at Old Delhi-Gurgaon Highway which is just 3 kilometers away from the Delhi international airport. Fun N Food Village is for all ages of people. Fun N Food Village in Delhi was inaugurated by former President of India Giani Zail Singh. 9 22nd May, 2010 5. Essel World Pan India Paryatan Pvt. Ltd. (PIPPL) is the company holding EsselWorld – India’s Largest Amusement Park and Water Kingdom – Asia’s Largest Theme Water Park. Pioneers in the entertainment and leisure industry, it was EsselWorld that pulled people out of the staid environment of conventional pleasure trips and unfolded before them the exciting new scenario of a complete leisure destination. A sprawling complex on the coastal Gorai village in northwest Mumbai, â€Å"The Island of Fun† is sprawled over 64 acres and is a refreshing gateway to a whole new world of excitement and fun. The second phase in the expansion plans for PIPPL, Water Kingdom makes this twin park complex a complete destination by itself. It’s never-before seen attractions set amidst unique architecture with international standard amenities and hygiene; catapult Water Kingdom into a different league. It is the only, truly international water park experience in India. 10 22nd May, 2010 6. Adventure Island Sprawling over an area of 62 acres in North West Delhi, it has been made with the venture of Unitech Ltd and International Amusement Ltd. It’s a 164 crore project with a water park and Planet Pogo. There are 26 rides in all and all of them have been imported supplied by leading European manufacturers such as Intamin, Moser and Zamperla, who supply rides to Disney, Universal Studios and Six Flags. The park is especially popular amongst children and teenagers. The entire Island consists of world class amusement Park, an adventure island and a water park. Retail Environment Metro Walk (Delhi) is spread across 2. 21 lakh sq ft and is anchored to the park. It overlooks a large lake which acts as a separator between the mall and the park. The Park has 26 rides spreading in an area of 3. 5acres. 7. Entertainment City It is thought of as Disney Land of India the Entertainment City in Noida. Unveiled by former cricket captain and entrepreneur Kapil Dev, it spreads over a whooping 147 acre land with an investment of Rs 10 billion. Built over an area of 100 acres of land, the park has more then 30 rides, supplied from European manufacturers. The Entertainment City Park has three entertainment zones, one for kids, one for teenagers and one for families each with its own separate rides, attractions and food courts. In addition to this it also has a Shopping complex known as the Great IndiaThe Entertainment City is a is a joint venture between Unitech and International Amusement Limited, the promoters of Appu Ghar (Delhi). 11 22nd May, 2010 8. Nicco Park It is situated in the heart of the main City of Calcutta in Salt Lake its one of the most happening place for the kids and teenagers. The elders simply love to be here. Covering an area of 40 acres, it was opened in the year 1991. Jheel Meel was the previous name of the park. It was renamed in the year 1990 with the restructuring of the park. It’s the only Amusing Park in the world which has got ISO 9002 certification. It draws a whopping 1. 5 million people every year. 9. Gujarat Science City Gujarat Science City has been made with a view of imparting education in the form of entertainment. On one of its side, it has small village while on other side the suburban urban area reflects technological atmosphere. The Gujarat Science City has something different from others in the country. Visited by the former Indian President and Scientist Dr. J P Abdul Kalam it exhibits, mind blowing experience, models which can be worked upon, a showcase of virtual reality, activity corners, hands on labs and live demonstrations to provide an understanding of science and technology to the common man. 10. Platinum Resorts The silent yet beautiful theme park of West Delhi is spreading at 14 acres of land. Big lawns here and the greenery calls people to view the scenery beauty amongst the screaming voice of the city lights. It’s a Resort cum Water Park. The beauty of the Park can be seen from the entrance itself. It has a huge big entrance with the hugeness it looks more magnificent. The Platinum Resort is just a 30 minutes drive (25 km drive from Paschim Vihar, on Delhi-Rohtak Road, NH no. 10. It’s a good place for family gatherings, parties and of course the entertainment of the entire family. 12 22nd May, 2010 13 22nd May, 2010 Current trends Amusement parks seek uniform entertainment tax The Indian Association of Amusement Parks and Industries, apex body of the amusement parks, has sought uniformity in the entertainment tax being imposed by different states. The Association rues that the exorbitantly charged entertainment tax by some states is a major impediment in the growth of the industry in these regions. â€Å"West Bengal, Punjab and Gujarat charge entertainment tax at 20%, 40% and 25% respectively, whereas the entertainment tax rate hovers around 5-15% in majority of the states. Real Estate companies plans to enter into this market Though the unorganised players hold a majority share in the market, the organised players are also expanding their base. Groups like Nicco Parks, Zee group, Unitech Turner and various real estate companies are developing amusement parks in different regions. The foreign developers are also stepping into the Indian amusement industry through collaborations with Indian companies. 14 22nd May, 2010 V Guard group entered into amusement parks V Guard Group of companies, based in Cochin in Kerala, is negotiating with property owners in Mumbai and Chennai for starting amusement parks. The group, which is running Veegaland in Cochin and Wonderla near Bangalore, has identified a place near Chennai to start a watertheme and amusement park, but negotiations were still on. Growing transportation facilities. Transport corridors like expressways and the Metro line are bringing an increasing number of people closer to entertainment hubs. To that extent, they trigger growth of formal means of entertainment. One major development witnessed in National Capital Region (NCR) over the last 4-5 years has been the expansion of Delhi Metro line. This process started in Central and Western parts of the city and is now on course to link South Delhi and Gurgaon. This has provided common man with a mode of transport that is both economical and convenient. While daily journeys like the ones to college or workplace have been simplified the occasional weekend outing too has been made much simpler as a result of enhanced connectivity to popular entertainment destinations. 15 22nd May, 2010 Expansion of Metro rail project One of the first entertainment destinations, which is strategically located near Rohini Metro Station, was launched by Unitech. This project was launched prior to the completion of the Metro line and has been fully operational since December 2007. It comprises Adventure Island an amusement park and the Metro Walk MallThe expansion of Delhi Metro gives us reason to be very optimistic about future of our projects in Rohini, especially Adventure Island. While the city is dotted with malls and retail spaces this is one of the few amusement parks and hence we expect a significant increase in footfalls upon extension of Metro line to South Delhi and Gurgaon, as distance will no longer be a prime consideration. Profile of top three Indian Companies: 1. Nicco parks resorts ltd. NPRL was incorporated with the prime objective of providing educative entertainment and wholesome recreation for the entire family simultaneously promoting tourism. NPRL presents a complete leisure package in an eco-friendly atmosphere with thrilling rides, eateries, exclusive landscaping, and indoor sports. This amusement park offers all kinds of entertainment under one roof and handles its offerings with professional elan. Business area of the company: At Nicco Park, it offers a wide range of rides and facilities, which the company manufactures in addition to setting up the operation of Amusement or Water Parks on turnkey basis. 16 22nd May, 2010 The company is associated with TUV, India (affiliated to TUEV, Germany) who commission an annual inspection of all its major rides along with manufacturing inspections for the new rides based on approved quality assurance plans. The company can offer overall consultancy to set-up and run Theme Parks successfully. †¢ At the market price of Rs. 70. 00, the stock trades at P/E of 15. 35 x and 12. 96 xs for the earnings of FY10E and FY11E respectively. †¢ Earning per share (EPS) of the company for the earnings of FY10E and FY11E is seen at Rs. 4. 56 and Rs. 5. 40 respectively for equity share of Rs. 10. 00 each. †¢ We recommend ‘BUY’ in this particular scrip with a target price of Rs. 85. 00 for Medium to Long term investment. Particulars Net Sales (Rs. Mn. ) Net Profit (Rs. Mn. ) EPS (Rs. ) FY08 214. 80 12. 80 2. 73 FY09 244. 00 21. 30 4. 56 % Chg. YoY 13. 59 66. 41 67. 03 17 22nd May, 2010 2. South Asian Enterprises Ltd South Asian Enterprises (SAENTER) is engaged in the business of setting up and running amusement parks and has ventured into the real estate and films. It was incorporated on Mar. 21, 1990 and came out with a public issue on Mar. 30, 1994. Earlier known as South Asian Entertainment, it acquired its present name on Feb. 24, 1995. Associate companies include VLS Capital, Gaurav Overseas Exports, Needle Eye Plastic Industries, Pragati Moulders, M. P. Mehrotra (HUF), VLS Finance, VLS Securities, VLS Investments, VLS Asset Management, and VLS Investments Inc. (USA). The first park was set up in the city of Kanpur under the name and style of Mikky House. Other parks were set up in Lucknow and Ayodhya. In FY08, the company ventured into marketing of earthing products and execution of contracts for earthing and lightning protection systems. It has also ventured into television serials and film production in collaboration with AUM Sportainment. Come December is a recent production. †¢ At the market price of Rs. 12. 06, the stock trades at P/E of -0. 14 x and 22. 59 xs for the earnings of FY10E and FY11E respectively. †¢ Earning per share (EPS) of the company for the earnings of FY10E and FY11E is seen at Rs. -0. 54 and Rs. 0. 53 respectively for equity share of Rs. 10. 00 each. †¢ We recommend ‘HOLD’ in this particular scrip with a target price of Rs. 20. 00 for Medium to Long term investment. 18 22nd May, 2010 Particulars FY09 FY10E % Chg. YoY Net Sales (Rs.Mn. ) Net Profit (Rs. Mn. ) EPS (Rs. ) 7. 40 1. 87 0. 47 13. 03 -0. 54 76. 08 3. Mahindra Holidays Resorts India Ltd Mahindra Holidays Resorts India Limited was incorporated as a private limited company called ‘Mahindra Holidays Resorts India Private Limited’ on September 20, 1996. The status of the Company was changed to a public limited company by a special resolution of the members passed at the annual general meeting held on January 29, 1998. The fresh certificate of incorporation consequent upon conversion was issued to the Company on April 17, 1998, by the Registrar of Companies, Tamil Nadu at Chennai. †¢ At the market price of Rs. 482. 00, the stock trades at P/E of 30. 72 x and 27. 92 x for the earnings of FY10E and FY11E respectively. †¢ Earning per share (EPS) of the company for the earnings of FY10E and FY11E is seen at Rs. 15. 69 and Rs. 17. 25 respectively for equity share of Rs. 10. 00 each. †¢ We recommend ‘BUY’ in this particular scrip with a target price of Rs. 575. 00 for Medium to Long term investment. 19 22nd May, 2010 Particulars Net Sales (Rs. Mn. ) Net Profit (Rs. Mn. ) EPS (Rs. ) FY10 5101. 96 1178. 37 14. 44 FY11E 5694. 23 1307. 23 15. 69 % Chg. YoY 11. 61 10. 94 8. 66. SWOT Analysis Strengths †¢ Fastest growing sector †¢ High margins †¢ Growing foreign Investments †¢ Customers satisfaction Weaknesses †¢ Seasonal business †¢ Low entry fees †¢ No special incentives from govt 20 22nd May, 2010 Opportunities †¢ Currently for a population of 1. 15 billion in the country, there are only 120 amusement parks and 45 Family Entertainment Centers. This indicates that the growth potential of Indian amusement and theme park industry is substantial. †¢ Transport corridors like expressways and the Metro line are bringing an increasing number of people closer to entertainment hubs. †¢ The Indian gaming market is on the path of maturity, income levels are rising and people want to have a fun life. †¢ The foreign companies reportedly interested in the Indian amusement parks market include Universal Studios, Time Warner and Disney. †¢ Growing tourism industry †¢ Growing retail market Threats/ Challenges †¢ Factors such as monsoon and cold weather affect the industry and in a year, only 100 days are the peak season for the parks. †¢ Lack of uniform taxation †¢ Govt policies †¢ Rising material cost of equipment 21 22nd May, 2010. Conclusion: The high growth potential of the industry in highly populated India will boost tourism, social infrastructural development as well as employment generation. The success and growth potential of this industry is resulting into the advent of new manufacturers of amusement parks rides in India. Currently for a population of 1. 15 billion in the country, there are only 120 amusement parks and 45 Family Entertainment Centers. This indicates that the growth potential of Indian amusement and theme park industry is substantial. Global leaders in entertainment parks and attractions like Universal Studios, Disney, Sony and Ripley Entertainment are mulling over investments of billions of dollars in India considering the vast potential in this region. Private equity funds are also aggressively dedicating resources towards this sector. The growth of the Indian economy will drive the Industry to, â€Å"grow both vertically horizontally. Vertically, in terms of the scale of investment and horizontally across the length and the breadth of the country. The greatest growth potential is the enormous amount of dormant/under-utilised land in India’s hinterland. Hotels and resorts are already showing interest in developing existing plots into anything form small play areas to full scale theme or water parks. _______________________________________________________ Disclaimer: This document prepared by our research analysts does not constitute an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. The information contained herein is from publicly available data or other sources believed to be reliable but we do not represent that it is accurate or complete and it should not be relied on as such . Firstcall India Equity Advisors Pvt. Ltd. or any of it’s affiliates shall not be in any way responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. This document is provide for assistance only and is not intended to be and must not alone be taken as the basis for an investment decision. 22 22nd May, 2010 Firstcall India Equity Research: Email – [emailprotected] com B. Harikrishna Banking B. Prathap IT A. Rajesh Babu FMCG C. V. S. L. Kameswari Pharma U. Janaki Rao Capital Goods E. Swethalatha Oil Gas D. Ashakirankumar Automobile Kavita Singh Diversified Nimesh Gada Diversified Priya Shetty Diversified Tarang Pawar Diversified Firstcall India also provides Firstcall India Equity Advisors Pvt. Ltd focuses on, IPO’s, QIP’s, F. P. O’s, Takeover Offers, Offer for Sale and Buy Back Offerings. Corporate Finance Offerings include Foreign Currency Loan Syndications, Placement of Equity / Debt with multilateral organizations, Short Term Funds Management Debt Equity, Working Capital Limits, Equity Debt Syndications and Structured Deals. Corporate Advisory Offerings include Mergers Acquisitions (domestic and cross-border), divestitures, spin-offs, valuation of business, corporate Restructuring-Capital and Debt, Turnkey Corporate Revival – Planning Execution, Project Financing, Venture capital, Private Equity and Financial Joint Ventures Firstcall India also provides Financial Advisory services with respect to raising of capital through FCCBs, GDRs, ADRs and listing of the same on International Stock Exchanges namely AIMs, Luxembourg, Singapore Stock Exchanges and Other international stock exchanges. For Further Details Contact: 3rd Floor, Sankalp, The Bureau, Dr. R. C. Marg, Chembur, Mumbai 400 071 Tel. : 022-2527 2510/2527 6077/25276089 Telefax: 022-25276089 E-mail: [emailprotected] com www. firstcallindiaequity. com 23.

Analysis of Henrik Isbens A Dolls House :: A Dolls House Essays

Act I Analysis: Act I, in the tradition of the well made play in which the first act serves as an exposition, the second an event, and the third an unraveling (though Ibsen diverges from the traditional third act by presenting not an unraveling, but a discussion), establishes the tensions that explode later in the play. Ibsen sets up the Act by first introducing us to the central issue: Nora and her relation to the exterior world (Nora entering with her packages). Nora serves as a symbol for women of the time; women who were thought to be content with the luxuries of modern society with no thought or care of the world in which they lived. Indeed, there is some truth in this (the extent of this is debatable). As the play reveals, Nora does delight in material wealth, having been labeled a spendthrift from an early age. She projects the attitude that money is the key to happiness. By presenting this theme of the relationship between women and their surroundings at the beginning, Ibsen indicates to the reader that this is the most basic and important idea at work in the play. However, it is also clear that Nora's simplistic approach to the world is not entirely her fault. Torvald's treatment of Nora as a small helpless child only contributes to Nora's isolation from reality. Just as Nora relates to the exterior world primarily through material objects, Torvald relates to Nora as an object to be possessed. The question becomes who is more detached from reality? Though Torvald's attitude pervades every word he speaks to Nora, his objectification of her is most evident in his use of animal imagery. He refers to her as his little "lark" and "squirrel"†¹small harmless animals. Similarly, Torvald repeatedly calls Nora his "little one" or "little girl", maintaining the approach of a father rather than husband. Nora is fully dependent on Torvald, from money to diet (the macaroons); and, because she is so sheltered, her perception of the world is romanticized. Nora's skewed vision of the world is most evident in her interactions with Mrs. Linde. Whereas her old school friend is wizened and somber, Nora is impetuous. Her choice to tell Mrs. Linde about her secret seems to be more of a boast of a small child than a thoughtful adult; in fact, Nora only reveals her secret after being called a child by Mrs.

Cost Club Week Essay

The issues against discharging an employee with any reason can be very harmful to any business. This opens the door for a lawsuit to any organization because, an ex-employee could file a lawsuit against the employer for alleging that they had been discharged wrongfully. The civil right law act in 1964 provides protection to the employees against wrongfully discharge. This describe that companies cannot terminate their employees basis of race, gender, skin, religion, color etc, (Employment law for business, 2007)†.) For example, if their at-will relationship exists between the employee and employer this does not mean that employer may terminate the employee, in a discriminatory manner. This mean the organization has to follow the legal principles before discharging their employee. There are so many laws that protect the individuals even though we are an, at- will state. The Federal anti-discrimination law prevents employees from wrongful discharge by the employer (Lawson, 1998)†. This scenario does not say that the employees were not let go due to the basis of any reason. This lawsuit against the organization for wrongful discharge could be very risky for the Cost Club since there were no reasons for terminating their employees. Reduction in Employee Costs There are many ways to reduce company cost. One thing a company can do is to outsource their HR. This will help reduce the cost of the employee benefits  program by bring in an outside company like GNA Partners. The GNA Partners have many ways to save the company money but, may bring cost to the workers. The GNA Partners provide negotiation insurance rates, which the plan cost are determined by what age group the employees fall into. Next the company can choose higher deductible plans, which this reduces, the cost of benefits plan. †¢ The business can offer robust benefits package by making their employees contribute. †¢ Using different types of workers like temporary workers, contract employee, part-time employees, employees and, non-employees work hours. These job types can be helpful to accomplish the seasonal demand of the organizations plus can cause the increase within the organizational performance. The organization knows all different categories of workers who can hire to save money for definite and indefinite period. Organization understands that temporary workers directly reports to the employer and receive their reimbursement from the company. When a company hires a contract employee, temporary and, part-time employee they know that they do not have to pay this employee benefits or high rates. Like vacation, sick, and part-time workers are usually define a workers, who have shorter working hours other fulltime workers. The rules, policies and, procedures for the part-time employee are not the same as the regular employees but quite different from the temporary workers† (Part Time and Temporary Employees, 2009). According to â€Å"Bennett-Alexander, & Hartman, â€Å"by hiring independent contractors, the cost of overtime is eliminated (the federal wage and hour laws do not apply to independent contractors) and the employer is able to avoid any work-related expenses, s uch as tools, training, or traveling. The employer is also guaranteed satisfactory performance of the job for which the contractor was hired because it is the contractor’s contractual obligation to adequately perform the contract with the employer, while the employee is generally able to quit without incurring liability (Employment law for business, 2007)†. For example, the company manage is an employees work who sets an employee’s schedule, along with deciding the method the employee uses to perform their work. An independent contractor is a person who provides particular services to an organization. Whether it be a short or long-term assignment. This is very effective low cost and saving the companying money because; temporary, contract or part-time employment arrangements provides several benefits to any business. Injury and Damages According to Tort Law, the Cost Club will be liable for the misconduct of employees with the customers. Tort laws are laws that offer remedies to individuals harmed by the unreasonable actions of others. Tort claims usually involve state law and are based on the legal premise that individuals are liable for the consequences of their conduct if it results in injury to others (McCarthy & Cambron-McCabe, 1992). Tort laws involve civil suits, which are actions brought to protect an individual’s private rights. The second situation, the employee is liable for physical harm to the customers’ property. Therefore, the company who hires the employee will be held liable for their employees negligent. The last situation, the business will not be liable for the acts of a real estate agent, because, the real estate agent is not controlled by the business. Therefore, the Cost Club should let their customers know they, are not responsible or that the real estate agent is an independent and organization contractors and that they have no control on his or her activities so, Cost Club will not be liable for the tort of him or her (Tort Liability Basics: Strict, Vicarious, and Joint Liability, 1999). Resolving Disagreement Processes Resolving disagreement between company and its employees, the can †¢ Set up a subject box  Ã¢â‚¬ ¢ Have a meeting once a week with the manager, and employees to discuss the problem that may arise between co-workers and managers. †¢ Includes third party as the mediator between employees and company. †¢ Grievance procedure, corporate due process, mediation etc., †¢ Clear as the formal complaint by the employees that they are behaved wrongly by the management decisions (Open door policy) These steps can be very effective to resolve between most companies’ problem. Which, if not settled could cause a big problem like violation of law, and just a perception of unfair treatment by the employees and managers. This method has to be effective in order to achieve long-term success and to facilitate and to accommodate between the employees and the company. Employment Law Concepts for Selection Employment law concepts for selection would include several legal implications. According to Bennett-Alexander, & Hartman, â€Å"the Civil Rights  Act 1964 prohibits the employers from discrimination among the potential employees on the basis of race, gender, color, region etc. in its recruitment and selection process. The next step is once the employee is hired, the company should make sure they follow steps are, training, appraising, compensating, and implementing employment decisions that determine such things as promotions, transfers, and layoffs† The selection procedure should also be job related and concern with the business necessity. The company should always follow the State HR Laws, and all the employees should be treated fairly and equally (Employment Tests and Selection Procedures, 2008). The Age Discrimination in Employment Act should also be considered in the selection procedure by the management. Reference: Beatty, J.F. & Samuelson, S.S. (2009). Introduction to Business Law (3rd ed.). Cengage Learning. Bennett-Alexander, D. D. & Hartman, P. L. (2007). Employment law for business (5th ed.). New York: McGraw–Hill. Retrieved October 29, 2012 from University of Phoenix, rEsource. Part Time and Temporary Employees. (2009). Retrieved October 29, 2012 from http://employment.findlaw.com/employment/employment-employee-overview/employment-

Sadomasochistic Relationship Dynamics In Jane Eyre

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Edgar Allan Poe Literary History Essay Example For Students

Edgar Allan Poe Literary History Essay Numerous writers have made great contributions to the broad-spectrum of literature. Samuel Langhorne Clemens, also known as Mark Twain, introduced Americans to life on the Mississippi. Thomas Hardy wrote on his pessimistic perspectives of the Victorian Age. Another author that influenced literature tremendously is Edgar Allan Poe. Best known as the father of the American short story and father of the detective story. Poe immersed reader into a world of imagination and horrendous ecstasy. Poe was great in three different fields, and in each one he made a reputation that would give any man a high place in literary history. Poe wrote great short stories, famous not only in his own country, but all over the world (Robinson V). 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Poe competed in a contest for the best short story in 1831. Because of his loss, Poe started on a motivated project. He decided to plan a series of stories told by members of a literary cluster. He found no publisher for his stories, and entered the contest again in June of 1835. This time he sent one poem and six stories (Asselineau 411). His story, Ms. Found in a Bottle, won, and he received one hundred dollars for it (Targ IX). Through the influence of one of the judges, John P. Kennedy, Poe became employed as an editor of the Southern Literary Messenger, published in Richmond (Asselineau 411). Under Poes editorship, th e Messenger s circulation rose from 500 to 3500. Poe then went to New York, where he was unsuccessful. In the summer of 1838, he moved to Philadelphia. While in Philadelphia, he worked as the editor of both Burtons Gentlemans Magazine and Grahams Magazine (Asselineau 412). Even though he won a one hundred dollar prize for The Gold Bug (Robinson VI), he moved to New York. Poe found a job in New York as an assistant editor for the Evening Mirror. This was where The Raven first appeared on January 29, 1845. The poem immediately caught the imagination of the public and was reprinted all over the country and even abroad in all kinds of newspapers and magazines, but Poe pocketed only a few dollars for his poems (Asselineau 413). The year of 1845 was a lucky year for Poe. He published a collection of his tales and an edition of his poems named The Raven and Other Poems. He also became the editor of the weekly Broadway Journal. In 1849, Poe died in Baltimore (Targ IX). Instead of really living, he took refuge from the physical world in the private world of his dreams-in other words-in the world of his tales (Asselineau 413). .u3658c5a93f3b4dadb1675f6daf2208cb , .u3658c5a93f3b4dadb1675f6daf2208cb .postImageUrl , .u3658c5a93f3b4dadb1675f6daf2208cb .centered-text-area { min-height: 80px; position: relative; } .u3658c5a93f3b4dadb1675f6daf2208cb , .u3658c5a93f3b4dadb1675f6daf2208cb:hover , .u3658c5a93f3b4dadb1675f6daf2208cb:visited , .u3658c5a93f3b4dadb1675f6daf2208cb:active { border:0!important; } .u3658c5a93f3b4dadb1675f6daf2208cb .clearfix:after { content: ""; display: table; clear: both; } .u3658c5a93f3b4dadb1675f6daf2208cb { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u3658c5a93f3b4dadb1675f6daf2208cb:active , .u3658c5a93f3b4dadb1675f6daf2208cb:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u3658c5a93f3b4dadb1675f6daf2208cb .centered-text-area { width: 100%; position: relative ; } .u3658c5a93f3b4dadb1675f6daf2208cb .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u3658c5a93f3b4dadb1675f6daf2208cb .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u3658c5a93f3b4dadb1675f6daf2208cb .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u3658c5a93f3b4dadb1675f6daf2208cb:hover .ctaButton { background-color: #34495E!important; } .u3658c5a93f3b4dadb1675f6daf2208cb .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u3658c5a93f3b4dadb1675f6daf2208cb .u3658c5a93f3b4dadb1675f6daf2208cb-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u3658c5a93f3b4dadb1675f6daf2208cb:after { content: ""; display: block; clear: both; } READ: Knowingly Transmitting AIDS EssayIn the Masque of the Red Death, Poe uses his imagination throughout the story (Rogers 43). An epidemic has overwhelmed the entire country, killing numerous people. One by one they die until no one else remains. Death is king of all (Rogers 41). The horror abysmal darkness, and absolute helplessness befalling the victims are described with vivid accuracy in tales such as The Fall of the House of Usher, The Cask of Amontillado, and The Premature Burial (Perry XI-XII). In The Fall of the House of Usher, the narrator visits his insane friend, Roderick Usher. Ushers house is huge and gloomy (Rogers 20). English Essays