Saturday, January 25, 2020
The Visitor Motivations To Attend Events Tourism Essay
The Visitor Motivations To Attend Events Tourism Essay Motivation or the drive to attend events can be of generic nature. Benefits associated with it also plays a motivational role. Leisure and travel especially having quality time with family and friends in addition to enjoy that sense of belonging give reason to attend events. Events pull people from all corners, socializing can be one of the many interest which drives oneself to attend events. The sole purpose of creating events by social and cultural group is socializing. Planned events definitely facilitate socializing, i.e. people coming together and interacting. People attend events for generic personal benefits such as entertainment and simple diversion (we can call this escapism) and having fun. Generic Experiences are those which can occur at any event. These experiences depend more on an individuals state of mind and particular circumstances rather than with the event theme, programme or setting. There are some ambiguous and generic reasons to attend events like entertaining, a reaction to something or ones point of view. . The event might be solemn and sacred. Sports event can attract fun loving visitors. Any enjoyable, stimulating or relaxing event draws people towards it. (Donald Getz, p. 182). There are some specific event experiences which are considered motivational. These events are planned events. People seeking knowledge, with a learning objective welcomes a cultural event. They are able to know something new and appreciable about the culture. Engage emotionally and cognitively with places, people and their lifestyle, historical aspect, cultural performances, food and beverages, art and architecture of that place . Simply sightseeing, enjoying, entertaining or spectacle, does not constitute a cultural experience. Belonging and sharing among a social group, community or nation are reflected in celebration. Values come to the forefront. In many cultural events community itself is the theme of celebration. Cultural events are concerned with genuineness in experiential terms. For a joyous experience being one of the motivational factor, festival and carnivals are attended by visitors. These festivals and carnivals depict a wide range of themes. These festivals can be sacr ed and religious. The carnivals associated with wild and boisterous merry making. The festivals may embody rituals. These festivals and carnivals entertain the attendants, provide a party atmosphere, these seem to be the drive which attract the visitors. The entire experience is dependent on the visitors involvement, their thinking, their approach (Donald Getz, p. 183). The developed souls are drawn towards spiritualism and religion. Any event associated with spiritualism and religion motivates them to attend. Events associated with transcend, to discover self, rapture, ecstasy, revelation with intense religious or spiritual experiences are more than enough to motivate these souls to attend the spiritual and religious events. There are significant differences between being religious and being spiritual. Spiritual refers to personal belief, a search for meaning in ones life, and so any tourist could have a spiritual experience in a sacred place or alongside religious pilgrims. (Timothy and Olsen , 2006, p 271) There are possibilities for spiritual experiences being incorporated into, or modifying mans common forms of tourism, from nature tours to attending farm shows and harvest festivals, food and wine tastings to spa visits. While often associated with visits to sacred places, spiritual experiences are also realized through meditation, exploring and performing rituals. In this sense the search for meaning in life can propel, almost invisibly, many leisure and travel activities or events. (Reisinger, 2006) A rite of passage and a transforming experience, the pilgrimage a special event in a persons life. A quest, a journey and an experience of a sacred place acts as motivational factors for this type of event. A pilgrimage is conceptualized as a special event in a persons life. There are well defined events for religious pilgrimage. The main motive of this event is to purify, repent, sacrifice and praise. In some cases it gains special status, making it a transforming process, at least in symbolic terms for e.g. on completion of the Hajj, one becomes Hajji. (Donald Getz, p. 184). Many tourism scholars now speak of secular pilgrimages or secular events , such as a golfers pilgrimage to St Andrews in Scotland (the generally recognized birthplace of the game) or a wine lovers pilgrimage to the regions in which favourite wines are produced. Gammon (2004) wrote (p. 40): pilgrimage.., will include a journey of some kind to a place (or places) which holds personal and/or collective meaning to the pilgrim The experience might provoke awe and wonderment, whether at a sport shrine or a holy event. (Donald Getz, p. 185) Within special interest groups, or sub-cultures, certain events have prestige and become must-see, must-do icons. For example, marathon runners strive to qualify for the Boston Marathon, making participation in that event almost like a pilgrimage. Does this apply to music concerts or other types of events? Could consumer researchers identify an evoked set of events that people just have to attend because of their symbolic value? (Donald Getz, p. 185) Many political and state events have a high degree of formality, pomp and ceremony attached to them. Terms like stately. regal or dignified might be used to describe the mood. Attendance to these events is to protest, participate or report on depending on what access the visitor have to the VIPs, and how they interact with security. For the politicians in attendance there should be dialogue, negotiation and public displays of diplomacy. (Donald Getz, p. 185) By labelling entertainment an industry, society has created a social construct that depicts many forms of planned events (especially concerts, award shows and sports. but even festivals and art exhibitions) as entertainment. Events, for many, have become legitimate outlets for consumerism where time is spent and money oblivious to, or unwanting of, any deeper experience or meaning than short-lived amusement. This, of course, is a dangerous thing for anyone concerned about the arts, cultural authenticity or social values. (Donald Getz, p. 185) Aesthetic judgement concerns art but is value laden and relative. What one person finds attractive, another might describe as boring or disgusting. An aesthetic experience, however, is one in which we find something to be pleasing to us. It can be the aesthetic appreciation of paintings, food, fashion or music. Designers take note: aesthetic experiences are valued, and they motivate a great deal of travel and consumption. (Donald Getz, p. 185) Authenticity is widely considered by academic scholars to be a crucial factor in visitors motivation to attend any event. In the heritage event, arena authenticity is a widely used marketing tool. If an event is authentic, then the attendee gains both in self-fulfillment because it is perceived to be a more valuable experience but also because it provides greater status and prestige to them when discussing the visit with friends. However, it is important to remember that the degree of authenticity ascribed to the event is often different to different people. A visitors perception of authenticity depends. however, upon their own understanding of culture and appreciation of art forms, such as dance or music, as well as their taste and educational level. It is also affected by external factors such as overcrowding, weather and traffic on the journey there. Similarly to motivation, each individuals perception of authenticity will be different. Visitors accept, and even expect, a certain level of staging and inauthenticitv in events, which do not necessarily detract from the value of that experience, but are seen as intrinsic. Authenticity can be existential, in visitors minds rather than an actual reality. (Peter Robinson, Debra Wale, Geoff Dickson, 2010). In case of Food Events, Festivals, etc the main motivation at the enterprise level is to create relationships with customers and consumers. The opportunity for face-to-face contact can lead to positive relationships with consumers which may lead to both direct sales and indirect sales through positive word of mouth; increasing margins through direct sales to consumer because of the absence of many distribution and intermediary costs; increasing consumer exposure to products and increasing opportunities to sample products rather than through normal retail outlets; building brand and product awareness and loyalty through establishing links between producer and consumer; providing an additional sales outlet. For smaller producers who cannot guarantee volume or consistency of supply, direct sales via event is the only feasible sales outlet; providing marketing intelligence on products and customers. Producers can gain instant and valuable feedback on the consumer reaction to their existi ng products. and are able to trial new additions to their product range; and providing opportunities to educate customers. Visits to events can help create awareness and appreciation of specific types of foods and food as a whole, the knowledge and interest generated by this can be expected to result in increased consumption and purchase. (Telfer and Wall, 1996; Hall and Mitchell, 2001, 2008; Hall et al., 2003) Wine festival visitors are not alike in terms of their needs, wants, and personal characteristics. They should not be considered as being a homogenous group. It is important for festival organizers and wine marketers to recognize these different groups in order to implement appropriate promotional strategies. (C. Michael Hall, Liz Sharples) The single event case study is dominant within empirical work. Li and Petrick (2006) suggest that a majority of the studies pertaining to festival and event motivation have employed travel motivation frameworks which have been theoretically based on the escape-seeking dichotomy and push-pull model. Event attendance motives are multiple, and include cultural exploration, family togetherness, recovery of equilibrium, novelty. external group socialisation, known group socialisation, gregariousness and festival participation and learning.(Janet Cochrane, 2008, p. 236) In addition to the above and taking into consideration the characteristics of the Ulaanhaatar Naadam as a key sporting event, the growing body of literature on motivation for attending sporting competitions should also be acknowledged. Kim and Chalip (2004). in particular. have cast some light on motivations associated with fan interest (identifying with specific competitors) and the aesthetic appreciation. .(Janet Cochrane, 2008, p. 236) Although the practice of marketing is often reduced to, or confused with advertising and sales, it is best described as the management of the interface or exchange relationships between an organization and its stakeholders, in pursuit of achieving the organizations goals. Communications are a key element in this ongoing process. Marketing requires research to gain understanding of customers and other stakeholders needs, motives and choices, the effectiveness of communications, and the influences of price and supply. Its theoretical foundations lie mainly in psychology and economics. Customers are not the only group that requires relationship management that task starts internally with staff and volunteers and extends externally through facilitators and regulators. Events marketing is dependant on the visitors motives to attend the event. (Donald Getz, p. 278) Worldwide interest, increasing globalization, a growing television audience and exposure to the World Wide Web have led to increased interest in events as a reflection of contemporary culture. In some extreme instances, sporting events can stop the nation arid the world. This is certainly the case with some athletic events in the Summer Olympics. Two billion viewers watched Pope John Paul IIs funeral. The execution of this event was doubtlessly planned in infinite detail an extraordinary ceremony attended by the worlds leaders and watched worldwide. (Merilynn Van Der Wagen, 2007, p. 8) Competitive environment, countries and cities involved in bid processes demonstrate the competitive nature of event procurement. Many conferences and exhibitions attract thousands of visitors and their expenditure is generally much higher than the average international visitor, All over the world in China, in particular there are initiative5 to build bigger and better convention facilities in order to attract this lucrative segment. (Merilynn Van Der Wagen, 2007, p. 8) Economic and tourism impact, business, cultural and sporting events also contribute significantly to the economic and tourism impact on cities and even countries. Many cities and suburbs are branded by their hallmark events, including Edinburgh. Monaco, Rio, Calgary and Chelsea. Taken into account here is the direct expenditure of visitors and event organizers as well as the indirect (or flow on) economic effect on the wider community. (Merilynn Van Der Wagen, 2007, p. 8) Authentic or imaginative event products, consumers look for a point of difference and, in particular, authenticity when visiting an event as a tourist. Where leisure options are a dime a dozen, an event needs to provide the motivation to attend. In the case of annual events, the visitor needs a reason to return. WOMAD is an example of a popular and enduring event, held in several cities. WOMAD stands for World of Music, Arts and Dance, expressing the central aim of the WOMAD festival, which is to bring together and to celebrate many forms of music, arts and dance drawn from countries and cultures all over the world. The organizers say they aim to excite, to inform, and to create awareness of the worth and potential of a multicultural society. (Merilynn Van Der Wagen, 2007, p. 8) There is an old adage that Nothing happens until somebody sells something-an observation offered by Red Motley, the original editor of Parade magazine, the Sunday supplement to the Washington Post. Nowhere is this truer than in the conference and event industry. The marketing process must begin at the outset of the planning process, during the setting of the goals and objectives of the event itself. Marketing must both reflect and drive those objectives. It must also integrate the objectives into one goal and enlist people into action toward the fulfillment of that goal. (Leonard H. Hoyle, p xvii) For example. an educational conference essentially has one goal: to educate participants. The marketing approach should emphasize the unique educational programs that this event will offer the attendee. Many vague promotions begin with You Are Invited to Attend. . . or something limpid such as Join Us for the 20th Annual Conference. These are far less comuelling uitchcs than those that proclaim: Learn How to Increase Your Profits or Ensure That Your Business Can Survive in the New Millennium. (Leonard H. Hoyle, p xvii) A conference might be designed to focus on a number of objectives such as, for example, education, entertainment, and changing the future governance of the organization. If this is our hypothetical event, marketing should drive all of those objectives. As an example. print promotion should proclaim that when you attend this event, you will learn Techniques for Success, revel in The Greatest Celebration of the Decade, and discover how to Position Our Association to Succeed in the Now Millennium. (Leonard H. Hoyle, p xvii) The essential point is that the marketing must begin when the planning process is launched. Only then can it serve as the greatest integral asset to drive attendance, profits. and repeat business at the next event. (Leonard H. Hoyle, p xvii) Marketing should integrate all of the management decisions so that they focus on the goals and objectives of the event as well as those of the sponsoring organization itself. (Leonard H. Hoyle, p xvii) History is rich with examples of creative geniuses who have dreamed beyond the borders of the conventional in order to develop awareness and increase sales for their events. they all shared a commonality of purpose. namely, the three Es of Event Marketing: Entertainment,Excitement, Enterprise. (Leonard H. Hoyle, pp 1-2) Whether you are marketing a complete convention or a standalone awards banquet. all three of these elements are critical to the continuing success of any event. Entertainment, for example, is available everywhere in our society. Years ago, people had to make a special effort to leave their homes to attend the theater or a sporting event to enjoy entertainment. They are now saturated with convenient home entertainment options on television, CDs and DVDs, computers. and videos. Key to your marketing success is the need to provide entertainment that will once again compel your audience to leave home to experience something they will not find there, because what you are offering is different, unique. and designed just for them. (Leonard H. Hoyle, p. 2) Excitement may seem intangible, but it is real. It is key to making an event memorable. Excitement may be generated by entertainment that blows the doors off the place: the great band, the dazzling magician, the fabulous party staged in the atrium lobby of a resort hotel. Bitt entertainment may have nothing to do with the excitement promised by an event marketer. Many marketers miss the opportunity to promise excitement in other critical features of their meeting and other events. (Leonard H. Hoyle, p. 2) Excitement can be part of a tribute to an industry leader, a new corporate logo introduced at a sales conference, or a celebration of an associations anniversary. The point is that it should always be considered as part of an effective marketing plan. (Leonard H. Hoyle, p. 2) For example, the greatest excitement for an attendee may be the eye-opening revelations of that special educational program that advances knowledge and career opportunities and changes lives forever. Or it may be the impact of that keynote speaker whose motivational message will become a lasting asset, and cherished memory, for the listener. The lesson? In whatever you market. incorporate excitement as pad of the promise. And then make sure it is delivered. (Leonard H. Hoyle, p. 2) Enterprise is defined in Websters Unabridged Dictionary as, among other things. a readiness to take risks. (Leonard H. Hoyle, p. 2) The natural inclination of people to experience something new, to be among the first to be able to describe those experiences to their friends, and to become part of the inner sanctum of the new enterprise. They wanted to blow the doors off the place and dared to ask the impertinent questions. (Leonard H. Hoyle, p. 3)
Friday, January 17, 2020
Financial Management Questions Essay
Question 1:            Medwig Corporation has a DSO of 17 days.  The company averages $3500 in credit sales each day.  What is the company’s average account’s receivable?            Answer / Solution:            Accounts Receivable = Days Sales Outstanding * (Sales / Days)                                                         = 17 * (3500/1)                                                         = $59,500 Question 2: Discuss some of the techniques available to reduce risk exposures?            Answer:            Insurance is one of the simplest and most available ways to reduce exposure to risk.  It involves the transfer of risk to another company.  Depending on the amount and nature of the risk involved, risk retention by self-insurance might not be a practical option, especially if the cost of transferring the risk (insurance premiums) is reasonable enough to not add significant costs.  Risk transfer is not done always through insurance, however. Outsourcing some operations to a company who agrees to take on the risk involved is another type of risk reduction.  Some tasks are best suited for specialized companies, and large organizations might outsource such activities as customer support, software development and internal security. Derivative hedging is also an option, depending on the nature of the company.  Futures contracts, for example, reduce the risk of price fluctuations in a particular commodity, and are very useful to transfer it to a speculator.  A company producing commodities would benefit from this type of hedge.            Aside from transferring risks, a company might try to reduce risk by reducing the inherent cause of the risk.  Instead of hiring a single custodian for cash transfers, a company might hire another one to reduce the risk of employee theft.            The last method is to avoid the risk completely.  This will completely circumvent possible losses, but it also precludes any possible gains from taking on the risk.
Thursday, January 9, 2020
Kimberley Process Certification Scheme Overview - 1051 Words
Kimberley Process Certification Scheme (KPCS) Background Africa has a history of political turmoil, which often led to frequent Coups staged by the military. These armed forces used proceeds from sales of illegitimate diamonds to fund their operations. In Angola, UNITA used the illegitimate trade of diamonds to fund itself. This resulted in sanctions being placed upon Angola by the United Nations Security Council (UNSC) in July 1998. The world became aware that â€Å"conflict diamonds†were being used fund and sustain armed rebel forces in various African countries. Establishment of the KPCS A meeting of Southern African diamond-producing states was held in Kimberley in May 2000 to discuss issues presented by conflict diamonds. This†¦show more content†¦Regularly share information with other Participants including statistical data on mining production and participating in peer review exercises. †¢ The WDC created a System of Warranties for diamonds that has been endorsed by all KPCS participants. Each company trading in diamonds must also keep records of the warranty invoices received and the warranty invoices issued when buying or selling diamonds. This flow of warranties in and out must be audited and reconciled on an annual basis by the company’s auditors. Failure to comply with the requirements of the KPCS will result in a suspension and possibly expulsion from the KPCS. In an instance where non-compliance is reported, Participants are given an opportunity and support to comply with the requirements before they are suspended. This is the current case with Zimbabwe. The Structure of the KPCS [pic] The KPCS relies on The Chair supervises the KPCS. The Chair is elected on an annual basis at a plenary meeting. Various Working Groups then support the Chair. A Working Group on Monitoring monitors each participant to ensure that it is implementing the scheme correctly. Then there is the Working Group of Diamond Experts that reports on the difficulties in implementation and proposed solutions. The Statistics Working Group, which reports on diamond trading data. The Participation Committee reports to the Chair on its recommendations on proposedShow MoreRelatedBlood Diamonds3412 Words  | 14 Pagesthe marketing campaign for diamonds in the United States. This campaign helped to expand the market for diamonds to middle class Americans who had previously believed that diamonds were only for the extremely wealthy. As a result of their marketing scheme, De Beers was able to increase the supply diamonds in the world to meet the new demand. In 1947, the famous slogan â€Å"A diamond is forever†was penned and the De Beers marketing machine was born. By 1982, De Beers was marketing diamonds all over theRead MoreThe Impact of Business Ethic on Organisational Performance14958 Words  | 60 Pages20 2.3 HSBC Business Models – General overview ------------------------------------------------------22 2.4 Analysis of the business model ----------------------------------------------------------------------23 2.5 Summary ---------------------------------------------------------------------------------------------26 CHAPTER 3: PERFORMANCE GAP ANALYSIS 28 3.1 Introduction and chapter overview ------------------------------------------------------------------28Read MoreCloud Computing Security67046 Words  | 269 PagesReviewers Valmiki Mukherjee, Bernd Jaeger, Ulrich Lang, Hassan Takabi, Pw Carey, Xavier Guerin, Troy D. Casey, James Beadel, Anton Chuvakin, Tushar Jain, M S Prasad, Damir Savanovic, Eiji Sasahara, Chad Woolf, Stefan Pettersson, M S Prasad, Nrupak Shah, Kimberley Laris, Henry St. Andre, Jim Peterson, Ariel Litvin, Tatsuya Kamimura, George Ferguson, Andrew Hay, Danielito Vizcayno, K.S. Abhiraj, Liam Lynch, Michael Marks, JP Morgenthal, Amol Godbole, Damu Kuttikrishnan, Rajiv Mishra, Dennis F. Poindexter, Neil
Wednesday, January 1, 2020
Interim Internship Report - 34088 Words
CHAPTER -1 INTRODUCTION 1.1 ABOUT THE COMPANY Cosmo Tradex Pvt. Ltd is an introductory broker of Kerford Fx of UK, in India. It was started in the year 2002 and is spread all over the states in India. It has opened 246 branches all over India with 500 agencies and more than 1000 franchises. Cosmo offers specialized trading and execution services to individuals and institutional clients. It works as a brokering and consulting house of Kerford Fx for Indian clients and helps in carrying out its full-fledged operations in the following three trading platforms: 1 1. International Commodity Market- It is a 24-hour market. There is no lock-in period for funds invested in this market. It is a two-way market i.e. the market may†¦show more content†¦The Project work involves a critical analysis of the historical data relating to Euro (EUR) and Great Britain Pound (GBP), with the use of advanced technical tools, retrieved from creditworthy sources. Thus, the Project work is being accomplished under the purview of Forex Marke t and involves regular monitoring of the currency pair EUR/GBP. Forex Market is known for its volatility and uncertainty. The Euro/GBP has always been a stable pair but the last month has been turbulent for the EURO as it has declined against the pound due to the Greece Debt crisis. Viewpoints of market critics have been used to determine what future trends are expected for Euro/GBP. The paramount goal of the project is to study the market movements carefully so as to determine the entry points. In line with the achievement of this goal, various Trend as well as Range analysis have been used to determine the most profitable points for taking a position (long or short). These tools include various trend lines, volatility bands, oscillators, moving averages etc. The role of fundamental factors in determining market prices on the date of entry points has also been carefully observed, as technical tools coupled with fundamental factors gives the best market predictions. Then, through the use of some theories, we have tried to determine the future price, so that we can play with the market changes. In addition to all this, a thorough implementation and analysis of the concept of 3-WayShow MoreRelatedGraduation Speech : High School Diploma831 Words  | 4 Pagesand Montefiore Medical Center to provide students with internships, training opportunities, and one-on-one mentorships. Since the P-TECH initiative is relatively new, no actual results have been documented. Mr.Donnelly mentioned that P-TECH has interim results which describes that some students will be graduating in the upcoming Spring 2016 semester. 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