Different Essay Types

Different Essay Types Essay writing is an important part of one’s education, regardless of whether you’re in high school or college. It would be impossible to avoid writing essays as lecturers use them to assess students’ knowledge of the subject, understanding of the topic, vocabulary skills, critical thinking, and so much more. The term â€Å"essay† refers to different types of academic writing. Each of these types has its own unique purpose, elements, and methods. In order to get better grades and improve writing skills, it’s necessary to understand every type of an essay. You came to the right place; we bring you all the details below. Argumentative essay Argumentative essay is defined as a genre of writing that requires an author to investigate a topic, collect, generate, and evaluate evidence to establish a position on the matter in a concise fashion. This is one of the most common essay writing assignments in schools and colleges. What is the purpose of this essay? The main purpose of an argumentative essay is to defend a debatable position on a certain issue with the ultimate goal to encourage a reader to accept the argument. In other words, your goal is to decide whether to agree or disagree with an essay subject, take a side, and develop an argument to demonstrate why you’re right. Of course, to show your argument is valid it needs to be supported by evidence. What are the elements/parts of the essay? Introduction – starts with an attention-grabbing hook, provides background information on the subject, and announces the thesis statement (argument you’re going to discuss) Developing the argument – the body of the essay, divided into paragraphs containing a claim and evidence. Each paragraph should be dedicated to one claim (reasons why you’re right) and evidence to support it. Avoid writing multiple claims in one section. The number of paragraphs isn’t defined, but most students stick to 3-4 depending on the subject, word count etc. Debunking opponent’s arguments – there’s always the opposite side of the issue. This section addresses opposing arguments and demonstrates why they’re wrong Conclusion – restates the primary premise or argument, provides a general warning of the consequences that could happen if the main premise isn’t followed i.e. explains why we need to take action and solve some major problem What are the methods? Since argumentative essay and other types of academic writing should be written in a precise manner, you have to be careful not to overdo it with figures of speech. The purpose of figures of speech is to emphasize the argument, not to lessen its impact. Useful figures of speech to add moderately include: Metaphor – an implied comparison between two similar things that have something in common Personification – an inanimate object or abstraction is endowed with human abilities Simile – a stated comparison between two things, people, ideas Alliteration – repetition of an initial consonant sound Form of writing The argumentative essay uses formal, academic writing style to discuss a certain subject. A writer focuses on developing the argument in a manner that keeps the reader glued to the paper to the very end. Point of view Even though the argumentative essay requires a writer to take a stand and back it up with evidence, it should be written from a third-person perspective. First-person writing can downplay the importance of facts and evidence while third-person writing emphasizes them. Tone of the essay This type of academic writing requires an authoritative and formal tone, but it should also appeal to the reader. Take into consideration the audience and avoid writing â€Å"big† words randomly. Persuasive essay A persuasive essay is a form of academic writing wherein a writer tries to convince the reader that one idea is more legitimate and accurate than the other. Nowadays, a persuasive essay is used as a synonym for argumentative papers, but they’re not the same. Argumentative essays use logic and reason while persuasive essays may involve a writer’s emotions and feelings too. What is the purpose of this essay? The purpose of the persuasive essay is to convince the reader that the assertion, claim, or opinion of the writer is valid. The goal is to try to persuade the audience to adopt your view on the matter. While it can involve emotions, the paper also needs evidence to make your â€Å"persuasion† even stronger. What are the elements/parts of the essay? Introduction – grabs the reader’s attention, makes audience relate to the subject, and announces thesis Body paragraphs – each paragraph features one reason/claim and evidence to support it Conclusion – short summary of the subject, benefits to the reader, and call-to-action in one paragraph What are the methods? The power of persuasion is an art form and there are different ways to make it stronger. Careful use of figures of speech and other stylistic methods can intensify your arguments. Useful methods to use include hyperbole for extravagant statements, irony, metaphor, imagery, simile, puns (but avoid clichà ©s), you name it. Form of writing The persuasive essay focuses on an in-depth assessment of the subject in order to defend your claims and make them appear superior to others. While it involves one’s emotions and passions, it’s crucial not to overdo it. Point of view Although the power of persuasion comes down to a person’s beliefs and passions, the essay requires third-person writing. It’s important to stay away from first-person writing because it can lessen the significance of evidence you include. Tone of the essay A formal type of writing that uses sarcasm and irony to emphasize strong voice and opinion. Compare and contrast essay Compare and contrast essay looks at the similarities and differences between two or more objects, events, or ideas. This type of an essay is particularly common at the university where lecturers test the understanding of the subject by asking students to compare and contrast two theories, historical periods, methods, characters in a novel etc. Sometimes students are asked to compare or contrast only, but in other instances, they are required to do both within a single essay. What is the purpose of this essay? The purpose of compare and contrast essay is not to state the obvious, but to illuminate unexpected similarities or unexpected differences. A writer has to dig deep below the surface to analyze the subject and use evidence to confirm both similarities and differences. What are the elements/parts of the essay? Introduction – introduces the main topic and specific ideas or subjects the paper will compare/contrast, announces thesis statement Body paragraphs – each paragraph starts with a topic sentence focused on the aspect you’re about to compare/contrast. After the topic sentence, it’s important to introduce the evidence you obtained while researching Conclusion – summary of the topic, specifies significance of the subject, provides short evaluation of future developments What are the methods? Compare and contrast essay is the perfect opportunity to use figures of speech such as simile and metaphor as they allow you to compare two objects/ideas both directly and indirectly. The use of oxymoron can also be practical when done correctly. Form of writing The focus of this paper is to connect two subjects or ideas in a meaningful way. Drawing distinctions between two (or more) elements within the same category enhance the understanding of the subject and demonstrate the writer’s critical thinking skills and the ability to evaluate a topic from different angles. Point of view Although you are the one who chooses key similarities/differences, it’s necessary to stick to the third-person writing. Tone of the essay This type of essay requires a clear and authoritative tone. Depending on the subject, a humorous tone can also be fitting. Narrative essay Narrative essay is a type of writing where an author narrates or tells the story. This type of paper is different than other essays because it focuses on a writer’s personal development. What is the purpose of this essay? The purpose of a narrative essay is to tell a story or narrate an event or series of events. Of course, the narration is non-fictional but it still allows students to explore their creativity. The narrative essay can be experiential, anecdotal, etc. What are the elements/parts of the essay? Introduction – starts with an attention-grabbing hook, describes significance of the subject, and ends with a thesis statement Body paragraphs – include the background of some event, characters (people involved), short anecdote or foreshadowing, onset of the event, climax, and ending or resolution Conclusion – moral of the story, significance of the overall subject, call-to-action (if applicable) What are the methods? Bearing in mind narrative essays revolve around telling a story, a writer can use multiple figures of speech to add more â€Å"soul† into the content. Anaphora (repetition of the same word/phrase at the beginning of successive clauses or verses) can be very useful for cases when you want to make a big impact. Other figures to use include simile, metaphor, hyperbole, imagery, litotes (an understatement wherein an affirmative is expressed by negating its opposite), personification, and others. Form of writing Although narrative essay revolves around telling a story, it should still convey and send a strong message about a certain subject. A writer uses personal experiences to get the point across. Point of view Unlike other types of essay writing, this paper encourages the use of the first person. Tone of the essay The tone should be engaging, approachable, storytelling, but you should still avoid using clichà ©s, abbreviations, slang, etc. Cause and effect essay Cause and effect essay is concerned with why things happen (causes) and the outcomes (effects). This type of writing is a common method of organizing and discussing ideas. What is the purpose of this essay? The main purpose of a cause and effect essay is to demonstrate your ability to connect reasons and their consequences in an evidence-based and logical fashion. It’s not uncommon for students to confuse this type of writing for compare and contrast essay. The main difference here is that you don’t analyze similarities/differences, but evaluate causes and effects or results of some actions, ideas, behaviors. What are the elements/parts of the essay? Introduction – sets the tone, catches reader’s attention, announces thesis statement Causes/effects paragraphs – there is no limit here, you can write as many paragraphs as necessary to discuss causes and effects you want. Remember, one cause/effect requires one paragraph, second cause/effect needs a separate paragraph, and so on. This is the section where you include research notes and back up all your claims with strong evidence Conclusion – restates the topic, summarizes key causes and effects, includes call-to-action (if applicable) What are the methods? Bearing in mind the cause and effect essay requires a logical flow of events and an in-depth analysis of the relationship between some events and their consequences, too many figures of speech could lessen the impact of your argument. When using these â€Å"devices† one should be careful because they can distract the reader. In order to achieve heightened effect one can use hyperbole, but with caution. Metaphor and simile can also be useful when used in moderation. Form of writing A writer focuses on the deductive analysis of the existing data to provide a logical reasoning for some event. Point of view Cause and effect essay requires third-person writing. Imagine yourself as a bystander who’s witnessing some event or development and reporting it and its consequences to his/her audience. Tone of the essay This paper requires causal chains, logical flow of events, systematic order of happenings. Expository essay An expository essay is a form of academic writing that requires the student to investigate the topic, evaluate audience, and set an argument in order to report the idea in a concise and logical manner. What is the purpose of this essay? The purpose of the expository essay is to â€Å"expose† and explain some subject in a straightforward manner. A writer carries out extensive research to approach the topic from different angles, analyze obtained information, and compose an essay. It is a fair and balanced analysis of a subject and it is strictly based on facts. What are the elements/parts of the essay? Introduction – a brief overview of the subject and announcement of thesis statement Body paragraphs – each paragraph discusses a specific topic within a given subject. It should contain facts and evidence that support them followed by their analysis Conclusion – summary of key points, reestablished significance of the subject What are the methods? Bearing in mind that expository essay is based on facts only, using figures of speech could decrease their influence. It would be ideal to keep this essay concise and specific from top to bottom, without adding words and phrases that aren’t necessary Form of writing The expository essay focuses on obtaining information and analyzing gathered data. A writer takes the role of a documentary narrator who just describes what is shown on screen. The paper doesn’t set a pro or con argument that persuades the reader to adopt a certain idea. Point of view Ideally, you should use third-person writing to compose an expository essay. Tone of the essay An expository essay is written in a logical and concise manner. A writer should be unbiased and avoid taking sides on the issue/subject.

Free Essays on Economic Sanctions

The first ethics question talks about the economic sanctions that the United States places on Iran. The sanctions disallow international trade and investment between U.S. and Iranian business people. Business leaders in the United States would like the sanctions removed so that they can be included in lucrative Iranian oil and gas deals which firms from other countries are engaging in. Other opponents to the Sanctions wonder if a policy of offering â€Å"all stick and no carrot† is undermining social and political change in Iran since the offending regime goes largely unpunished. I don’t feel that sanctions can be effective at changing the behavior of governments. Take Cuba for example, we’ve had an embargo placed on the country for years in order to persuade them to change their government. Castro is still in charge and leads the country just the same. While the embargo does limit the economic success that the country has had, it has not forced the country to topple. What it does is force the country such as Iran to do is to develop strategies for diversifying trade routes, to find new economic partners, and reducing dependence on oil export revenues to the United States. From a business standpoint all we are doing is limiting the amount of revenue that we can obtain and limiting the potential for another market in which we could thrive. One country acting alone can’t bring about reforms through the use of economic sanctions or embargoes. While The U.S. is a leading power, there are plenty of other countries that would leap at the economic opportunities that we are leaving behind, and do. While we had an embargo on Cuba other countries such as Russia were still working with Cuba. After the Persian Gulf War the U.S. began to persuade Europe and Japan to limit their involvement in Iran. There was no way for the U.S. to enforce any of these policies. To be fully effective with sanctions or embargoes there would ne... Free Essays on Economic Sanctions Free Essays on Economic Sanctions The first ethics question talks about the economic sanctions that the United States places on Iran. The sanctions disallow international trade and investment between U.S. and Iranian business people. Business leaders in the United States would like the sanctions removed so that they can be included in lucrative Iranian oil and gas deals which firms from other countries are engaging in. Other opponents to the Sanctions wonder if a policy of offering â€Å"all stick and no carrot† is undermining social and political change in Iran since the offending regime goes largely unpunished. I don’t feel that sanctions can be effective at changing the behavior of governments. Take Cuba for example, we’ve had an embargo placed on the country for years in order to persuade them to change their government. Castro is still in charge and leads the country just the same. While the embargo does limit the economic success that the country has had, it has not forced the country to topple. What it does is force the country such as Iran to do is to develop strategies for diversifying trade routes, to find new economic partners, and reducing dependence on oil export revenues to the United States. From a business standpoint all we are doing is limiting the amount of revenue that we can obtain and limiting the potential for another market in which we could thrive. One country acting alone can’t bring about reforms through the use of economic sanctions or embargoes. While The U.S. is a leading power, there are plenty of other countries that would leap at the economic opportunities that we are leaving behind, and do. While we had an embargo on Cuba other countries such as Russia were still working with Cuba. After the Persian Gulf War the U.S. began to persuade Europe and Japan to limit their involvement in Iran. There was no way for the U.S. to enforce any of these policies. To be fully effective with sanctions or embargoes there would ne...

Workplace humour is really just a bit of fun. Critically evaluate this Essay

Workplace humour is really just a bit of fun. Critically evaluate this statement - Essay Example Humor is used in all aspects of communication and merely everyone uses it in their conversation (Ann, 2004). These include religious leaders, political leaders, lawyers, doctors, managers, scientists, engineers, educators or directors. People are mostly stressed at work places and offices more than any other place. Documentation has been done and it shows that workplace or office humor is a good stress reliever, boosts morale, unites people, and helps in to ward burnouts. On the other hand it can be used to create hostility in the working environment and to alienate a worker which leaves them stressed at the long run. As a result workplace humor can reduce stress and at times it can be offensive to the employees. Humor is brought about by popular jokes which are mostly associated with employee’s accent, personal hygiene, age, sexual orientation, physical appearances, weight or even their work behavior like poor attendance or closely working with the boss. We are all aware that the lecturers and teachers rated the best in campus and other learning and educational institutions were those with funny stories, jokes; to them these were a way of capturing the attention of the students. It helped in increasing attendance and kept the students awake. The same case applies to work place; in a working environment with humor, the workers are energized and vigorous leading to increased productivity (Bob, 1989). In many instances women are the ones who are mostly offended by humor as many male employees make jokes about their physical characteristics like cleavage, weight and scars. At times many office jokes meant to evoke humor are not received to be jokes. These may lead to conflicts in the organization and lowering morale and productivity. At some organization, great task are involved in trying to balance the funny office humor and its offensive nature. Humor in itself is not a problem, the problem comes in when a person uses

Trends Essay Example | Topics and Well Written Essays - 250 words - 1

Trends - Essay Example A recent research reveals that low wage rates and high unemployment contribute to increased crime cases (Grabmeier, 2002). Moreover, it has also been observed by the researchers that less-educated or illiterate men are more likely to adopt criminal behaviours. The possible reason of these criminal behaviours or crime activities involve frustration, family and social needs, lack of basic necessities of life and social isolation. The government has taken many steps on fighting against the crime cases and crime-fighting initiative including punishments, penalties and strict laws, yet, it cannot be ignored that these initiative are limited in their effects. The increasing unemployment along with the inflation prevalence have a profound impact on crime rates. The large unemployed population is compelled to adopt criminal behaviours and meet the needs of their families. Knowing the importance of money and resources in people’s life, it is justifiable to believe that unemployment leads to increased crime rates. People can sacrifice their moral values but not lives. All human beings including the unemployed population have the needs to get food, shelter, proper clothing, education and so on. Hence, most of the unemployed people choose to adopt crimes and violent behaviours to attain these sources of life. The government must also keep an eye on the employment issue while designing any initiative to combat crime

Bible Scripture Virture Research Paper Example | Topics and Well Written Essays - 1000 words

Bible Scripture Virture - Research Paper Example Love rejoices in the truth (1 Corinthians 13:6 New International Version). Therefore, love needs to be an integral part of the professional code of conduct. According to the Christian faith, love must be protective and hopeful. This means that love is consolidative and inclusive. The virtue of love encourages mutual trust and responsibility. This responsibility leads to preservation of life (Roger, 2003). Faith in the lordship of Jesus is the cornerstone of Christianity and New Testament. Those claiming to follow Him must love others just like He did (John 13:34 New International Version). According to the synoptic gospels, the virtue of love is the only unique identity of believers (Ostriker, 2007). Jesus advised the disciples to love their enemies (Mathew 5:43 New International Version). Love never fails (1st Corinthians 13:8 New International Version). This implies that love is strong enough to resist both the professional and ethical challenges of any nature. In the case of nursi ng profession, the patients seeking medical attention deserve unconditional attention and commitment. This is a professional and ethical requirement (Smith, 1995). Love incorporates kindness and patience (1st Corinthians 13:4 New International Version). Love must be viewed in the context of service and applicability in the any profession. The omnipotent and protecting love of God does not necessarily spare Christians from the calamities. However, the faith brings timeless joy from God (Ostriker, 2007). According to research, God never promised exclusion from persecution and trials. However, God uses love to bring people through temptations and to increase their strength. All things work together for good to those who love God, and are called according to His purpose (Romans 8:28 New International Version). The chapter suggests that nothing can separate believers from the love of God. This implies that the virtue of love is absolute and crucial in any serious undertaking. There is no greater love than a man having to lay down his life for his friends (John 15:13 New International Version). In this analogy, Jesus used the power of sacrifice to explain the power of love. The analogy explains the depth which loves goes when it comes to sacrifice. According to Brown (`1983), Christians are required to love and express the love through actions and words. This entails taking risks to fulfill the spirit of love. Faith, hope and love are important milestones when it comes to Christian faith (1 Corinthians 13:13 New International Version). However, the bible states that love is the greatest of all the virtues. Love inspires the devout to receive and understand each other with an open heart (Roger, 2003). In the context of the Christian faith, love is crucial when it comes to career life (Smith, 1995). The character of God never changes. This means that His promises can be trusted. Love remains inconsequential unless it is demonstrated through actions. In other words, lo ve should not be likened to an exchange program. It should be offered freely to all. The Lord does not change (Malachi 3:6 New International Version). This means that His love is sure and people can rely on Him. The bible also likens God to love. This means that His nature is deeply entrenched to in the virtue of love. Christians are required to love one another in the same way God loves them. In the practice of professionalism, God expects that those called by His Name to spread His nature and values. At the same

Starwood Hotels And Resorts Worldwide Inc Marketing Essay

Starwood Hotels And Resorts Worldwide Inc Marketing Essay Starwood Hotels and Resorts Worldwide Inc is one of the most well recognized corporations in the hospitality industry. Founded in 1991 as a real estate company first under the name of Starwood Capital Partners it developed to be a top hotel owning, operating and hospitality management company. What really distinguishes Starwood from other hospitality companies is its philosophy towards hotel customers, employees and guest services (Starwood Hotels Resorts Worldwide, Inc., 2010). Providing unparalleled guest experience, high quality services products, creating team spirit among employees and by using an innovate customer approach it managed to be one of the leading companies in the hospitality industry (ibid.). Performing in the hospitality market since 1993, it developed to a global enterprise with the acquirement of Westin Hotels only 4 years after it first operated. In 1998 Starwood purchased the ITT Group, owner of the Sheraton and Four Points by Sheraton brands (ibid.). Today the company owns 992 properties all over the world (appendix 1). The majority of these properties are located in North America, where Starwood has presence with 533 hotels and 298.500 rooms in total. The company has also presence in Europe, Africa, Middle East, Asia and Latin America (Starwood Hotels Resorts Worldwide, Inc., 2010). Most of the properties are franchised or operated in joint venture with individual hotel owners. Only 63 of the hotels are privately owned. At this moment 145.000 employees work worldwide for hotels managed and operated by Starwood. The Group is consisted by nine hotel brands and one residential and vacation Ownership Company (appendix 2), (ibid.). St. Regis: St. Regis hotels and Resorts are properties which provide high-end service to satisfy the most distinguished and demanding guests, both business and leisure travelers (Starwood Hotels Resorts Worldwide, Inc., 2010). The Luxury Collection: This brand operates unique and exceptional hotels and resorts, usually classic buildings or palaces. The aim of Luxury Collection is to provide extraordinary services and experiences concentrating in the destination (Starwood Hotels Resorts Worldwide, Inc., 2010). W: W Hotels and Resorts is a new brand of ultra modern, fashion and trendy hotels that is now developing throughout the world. W offers services and experiences never offered by any company in the past. Some examples are the WhateverWhenever service and the unique design and internal environment (Starwood Hotels Resorts Worldwide, Inc., 2010). Westin, Le Meridien and Sheraton brands are the three historical and largest brands of Starwood. All of them operate in the upper scale of hospitality industry. Le Meridien is the most classic of them and provides a distinctive French style in all of its properties. Sheraton is the largest brand of Starwood and operates business city hotels and leisure resorts, whereas Westin hotels are distinctive for their gracious style and are ideal for those, who seek a superior guest experience (Starwood Hotels Resorts Worldwide, Inc., 2010). Four Points is a brand operating medium scale comfort hotels (Starwood Hotels Resorts Worldwide, Inc., 2010). Aloft, opened in 2008, is a collection of hip hotels with modern rooms. Aloft is similar in concept with the W brand but with cheaper rates (Starwood Hotels Resorts Worldwide, Inc., 2010). Element Hotels and Resorts, also opened in 2008, is a brand inspired by Westin and consists of environmental and nature friendly hotels (Starwood Hotels Resorts Worldwide, Inc., 2010). One of Starwoods key to success is based on its approach towards enterprises development, which generates from the idea of continuously growth, targeting top markets. Therefore there is no surprise that among the corporations future goals is the expansion in China market; a strong financial country with a huge market and many business potentials (Starwood Hotels Resorts Worldwide, Inc., 2010). 2.Financial Assessment Evaluating the financial assessment of a company is possible either by comparing one company to another one of the same industry or by comparing data of different financial years. In Starwoods case, in order to perform companys assessment the second method will be used; comparison of different years. Hence, from year 2008 to 2009 there was a significant decrease in return of equity, falling from 20.3% to 3.8% indicating that Starwood was not able to generate return for shareholders (figure 1). Caused partly by the fall of return of assets from 5.20% in 2007 to 1.80% in 2008 reaching -1.30% in 2009, showing that Starwood didnt use efficiently its assets to generate profit. Referring to return of capital one of its downside is that it doesnt represent something specific about where the return is being generating. Therefore its not a precise choice of financial evaluation (About.com, 2010). Figure 1: Ratio Analysis for 2007-2009 3 Year Annual Ratios (Year End) Fiscal Period 2007 2008 2009 Return on Equity (%) 26,10 20,30 3,80 Return on Assets (%) 5,20 1,80 -1.3 Profit Margin (%) 9.00 6.00 2.00 Gross Margin (%) 28,10 26,40 21,80 Net Margin (%) 8,80 5,60 1,50 Asset Turnover (%) 0.64 0.61 0.54 Fixed Asset Turnover (%) 1.6 1.64 1.41 Inventory Turnover (%) 7.81 6.09 3.74 Debt to Equity (%) 173 216 160 Current Ratio (%) 0.87 0.81 0.74 Acid Test (%) 0.53 0.44 0.35 Coverage Ratio (%) 8.28 4.55 1.48 Note: Euromonitor International, (2010) Our own Calculations Furthermore, a major drop from 8.80% to 1.50% in net margin occurred during the years 2007 and 2009 revealing that not all of its income is converted into profits. Regarding profit margin in 2007 for each dollar of sales Starwood generated $0.09 of profits, when in 2009 for each dollar of sales Starwood generated $0.02. Also, gross margin indicates that the company will retain $0.28 in 2007 for its dollar of revenue, to be able to pay additional costs and expenses, whereas in 2009 retained $0.21 for the same purpose. Concerning net margin there was a gradual fall from 8.80% in 2007, to 5.60% in 2008 and finally to 1.50% in 2009 meaning that finally for every dollar earned by Starwood, the profit is $0.015 (Investopedia ULC, 2010). Additionally, asset turnover remained almost the same. In 2007 asset turnover was 0.64, in 2008 0.61 and in 2008 it dropped to 0.54 showing that a smaller percentage of sales was able to be generated from the companys assets. Therefore fixed assets turnover had also a small decline from 1.6 in 2007 to 1.41 in 2009. Moreover there was also a substantial decline in inventory turnover from 7.81 in 2007 it fell to 6.09 in 2008, whereas we only had 3.74 in 2009 suggesting that the companys inventories are not marketable as they used to (Investopedia ULC, 2010). As far as debt to equity is concerned there was a significant rise in 2008 from 173% in 2007 to 216, but after a year it fell again to 160%. Also, current ratio had a slight decline from 0.87 in 2007 to 0.74 in 2009. Regarding acid test in 2007 it was 0.53 decreased to 0.44 in 2008 and in 2009 reached 0.35, indicating to investors and to Starwood how quickly the assets can be converted to cash in order to pay their current liabilit ies. Finally, coverage ratio from 8.28% in 2007, dropped to 4.55% in 2008, reaching 1.48% in 2009 (appendix 4.2). Hence, the company will be in danger in the future if the coverage ratio remains around 1.0% or falls below 1.0%, because at this case that will mean that it is not able to meet its obligations (Palepu, Healy, Bernard, Peek, 2007). 3.Financial Performance, Forecast Evaluation In order to perform a financial evaluation of Starwood Hotels Resorts Worldwide Inc. it is necessary to collect information regarding the balance sheet (appendix 7), income statement (appendix 8) and cash flow statement (appendix 9) of the company. Using these financial statements we were able to calculate the financial ratios, that were presented previously and to produce the forecast models (appendix 10 11 12 ). Also, as presented in Figure 2, Starwoods greatest Dividends per Share rate were in 2006. From that year the dividends per share followed a downward flow to 0.90 in 2007 and 2008 to reach the amount of 0.20 in 2010, the lowest for the past 10 years. This could have happened due to new equity issue. Figure 2: Per Share Data for years 2000-2009 Annual Per Share Data (Year End) Fiscal Period 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Revenue per Share ($) 22,43 20,06 23,36 22,89 25,72 27,26 28,20 30,90 32,27 25,20 Free Cash flow per Share 1,60 1,44 2,04 2,29 1,17 1,37 0,61 2,57 0,93 2,01 Earnings Per Share ($) 2,08 0,73 1,78 1,53 1,89 1,92 4,92 2,72 1,80 0,38 Dividends Per Share 0,69 0,80 0,84 0,84 0,84 0,84 13,90 0,90 0,90 0,20 Book Value Per Share 20,48 19,21 20,29 21,54 22,94 23,77 14,19 10,42 8,86 9,87 Note: (Euromonitor International, 2010) Moreover, Starwoods greatest Dividends per Share rate was 13.90 in 2006. From that year the dividends per share followed a downward flow to 0.90 in 2007 and 2008 to reach the amount of 0.20 in 2010, the lowest for the past 10 years. This could have happened due to new equity issue or the decrease of net income from the year 2006 to 2009. Earnings per Share(figure 3) is also a rate that is affected from the relegation of net income from $1 billion in 2006 to $71 millions in 2009. Operational Income is also a factor that indicated that Starwoods financial condition is not in a good position. Figure 3 Note: Our own Diagram Figure 4 Note: Our own Calculation Regarding the forecast models, firstly the moving average model is calculated as well as the weighted moving average model. However these forecasting models are providing predictions only for one future period, in this case for the year 2010. The same situation applies for the exponential smoothing model. After making two assumptions for the value alpha (0.6 and 0.05) it is proved that this model is also not appropriate, because it provides forecasts for one future period. The most accurate forecasting method for Starwood is the linear regression model. After calculating a and b, which are necessary for the formula y=a+ bx (appendix 10.2, 11.2 12.2) the yearly (seasonal) ratio is estimated (Higgins, 2009). After these calculations the estimation of the sales (appendix 10.3), profits (appendix 11.3) and cost forecast (appendix 12.3) was completed. 4. SWOT Analysis Strengths à ¢Ã¢â€š ¬Ã‚ ¢ Massive investment on Sheraton brand hotels. Starwood spent billions of dollars on renovations and new hotel openings in order to strengthen Sheraton globally and renew its corporate image (appendix 13), (Euromonitor International, 2010). à ¢Ã¢â€š ¬Ã‚ ¢ Hotel ownership: Starwood is selling its properties in return to long year management contracts of the same properties. This tactic is generally called Sale and lease back and is used in order that the company decreases its expenditures for maintaining the buildings. Starwood sold many of the leased, owned or operated by joint venture properties (Euromonitor International, 2010). à ¢Ã¢â€š ¬Ã‚ ¢ Starwood Preferred Guest loyalty program. The loyalty program of Starwood is well known in the tourism and hospitality industry and attracts new customers due to the benefits, innovative services and promotions in partnership with other companies offered to them (Euromonitor International, 2010). Also, to offer more benefits to their customers Starwood has cooperated with American Express to create a Starwood credit card (appendix 14). Weaknesses à ¢Ã¢â€š ¬Ã‚ ¢ Luxury Brand Hotels. Starwoods collection contains only luxury, up-scale and mid-scale brands. There are no economy hotels for business or leisure travelers that dont afford luxury brands. Starwoods competitors are present in budget hotels with brands for example Ibis, owned by Accor and Holiday Inn Express owned by IHG (Euromonitor International, 2010). à ¢Ã¢â€š ¬Ã‚ ¢ U.S. market oriented. Starwood has a large presence in the United States and that makes the company extremely dependant on the economy situation of the country. The U.S. economy upturns and downturns have direct effects on Starwood (Euromonitor International, 2010). Opportunities à ¢Ã¢â€š ¬Ã‚ ¢ Aloft brand. This new Starwood brand gives the opportunity to travelers that cant afford the other luxury brands to have access to modern hotels with high-tech design and facilities (Euromonitor International, 2010). à ¢Ã¢â€š ¬Ã‚ ¢ Growth in Asia. Asia and especially China are the emerging markets for Starwood in the fore coming years. China is the second largest market right now and Starwood plans to double its presence there by 2012 (Euromonitor International, 2010). à ¢Ã¢â€š ¬Ã‚ ¢ Attraction of wider range of travelers via the social media networking sites. By developing mini-sites in every social media site, Starwood could attract new target groups of customers that never before have used its services or sometimes havent even heard about Starwood brand name (Euromonitor International, 2010) . Threats à ¢Ã¢â€š ¬Ã‚ ¢ Consumer behavior. Starwood, having only a collection of luxury and upscale hotels is reliant to any changes in travelers behavior. Spending for luxury goods and services is usually the first thing that gets deleted or decreased from every business or family budget (Euromonitor International, 2010). à ¢Ã¢â€š ¬Ã‚ ¢ Travel industry downturns. Travel and tourism industry have experienced in the past a lot of uncertain and unexpected recessions due to facts like terrorism, enlarging fuel prices, political instability economic conditions or extreme weather conditions that caused major catastrophes. These effects could still happen anytime in the future. à ¢Ã¢â€š ¬Ã‚ ¢ The above point about industry downturns leads most of the times to less credit availability to the companies. This means that there will be fewer investments in tourism either in forms of renovations or new build hotel openings (Euromonitor International, 2010). 5. Competitive Challenges In general 2008 for the hospitality industry was a good year. More specifically a 5% growth occurred at that time, followed however by a significant fall of 11% during the year 2009 due to the economic crisis. Starwood enterprise was affected by this crisis by a 12% fall in that year. Therefore, one solution to avoid the catastrophe was to lower room rates and cut costs. But what Starwood did was to try and gain customer loyalty. One way to do that was by making him feel like home. Another way to offer 1000 reward points for every night the customer stayed at their hotel (Starwood Hotels Resorts Worldwide, Inc., 2010). Starwoods policy was by no means lower the price of the room rates significantly as some of their competitive did. Since it would be very difficult for them to recover after the crisis and the customers would become adapted to the discount room rates. Thus, it would be very difficult for Starwood to raise the room rate prices again. Eventually they would manage to do so, but it would take too much time (ibid.). For 2010 Starwood plans to launch its campaign of rediscover Sheraton, which cost US$ 6 billion in order to renovate and built new rooms, lobbies etc of Sheratons properties. A step, that will give Sheraton and Starwood a leading advantage (Starwood Hotels Resorts Worldwide, Inc., 2010). 6. Future Prospects The unpredictable and unstable economic situation in U.S and Europe resulted to the decrease of Starwoods revenue by 18% comparing the years 2008 and 2009. The weakening economic environment and the general reduction of business traveling led Starwood to offer an innovative promotion through the loyalty program called Preferred Guest. Starwood offered a 50% discount for guests staying from November until January 2010 (Euromonitor International, 2010). The future prospects for Starwood in order to adapt to the always evolving hospitality environment is first to franchise some brands to other hotel operators and owners (Starwood Hotels Resorts Worldwide, Inc., 2010). This means that Starwood could give permission to a 3rd organization to operate and be the master franchisor of its brands in a country or market that Starwood doesnt have prior experience. Second prospect intention is to increase sales booked directly from the companys website. That will lead to higher customer satisfaction and revenue increase. Another intention is to increase the number of guests joining the loyalty program and thereby increase the occupancy rates (ibid.). One final overall intention is to make the most out of what technology has to offer to hospitality and therefore boost the operating efficiency. Even though the information needed for Starwood Hotels Resorts Worldwide Inc evaluation was sufficient, there were some important statistics missing regarding Starwoods individual hotel brands and internal data for every country that Starwood is operating. Having these records we could have made a more informed report containing future prospects for each particular brand. Furthermore, if we had more information and data regarding taxes, distressed costs, market signaling, companys flexibility and management incentives we could make more efficient financial decisions (Starwood Hotels Resorts Worldwide, Inc., 2010),. 7. Recommendations Geographic expansion Starwood has already a large presence in North America and Europe covering a wide range of properties, from historical palaces to ultra modern and hi-tech hotels. Starwood is now starting to expand in China, India and other Asian countries. Additionally the company should expand its business to Africa and Middle East but certainly should focus on China as it is the rising economy of our days (Starwood Hotels Resorts Worldwide, Inc., 2010). The Chinese, in a few years, are expected to be the largest number of travelers worldwide both for regional and international tourism. It is rational for any company to have strong presence in this country in order to create loyal guests of the future (appendix 15). Affordable Luxury Starwood created new concepts in hospitality a few years ago when introducing the brands aloft and Element. In that way these two new ideas were offered to new target groups of travelers that in the past would have never chosen to stay in a Starwood managed hotel. Element is the eco-friendly brand of the group while aloft is the first hotel company of the group doesnt concentrate on business travelers but focuses on young travelers that dont want to spend large amounts of money but still enjoy staying in a modern, comfortable and hi-tech environment (Starwood Hotels Resorts Worldwide, Inc., 2010). Cost controlling Due to the global unstable economic situation companies and organizations like Starwood should deliberate to reducing their operational costs. This means that hotels should maximize the use of their existing resources and increase their efficiency. To give an example of that (Euromonitor International, 2010). New target groups In the near future Starwood should invest in new hospitality industry segments and new target group of both business and leisure travelers. Generation Y in a few years will have the ability to afford staying in a Starwood hotel. This is the reason why Starwood through the two new brands, element and aloft, should focus on developing them to attract the new generation (Euromonitor International, 2010). Customer experience The key point of success for the existing well-known brands of Starwood is to increase customer satisfaction and make each moment he spends using the services unique. This objective can be achieved from considering customers feedback and trying to adapt to their needs (Starwood Hotels Resorts Worldwide, Inc., 2010). Budget hotel brands A new trend that has been developed the last few years is for hotel chains to adapt low budget hotels. This doesnt mean under any circumstances that the quality standards will be lowered. Only that these specifically brand will provide more affordable services to future hotel guests. Other hospitality chains have recognized the market need for more inexpensive hotels and have already launched their budget hotels (Starwood Hotels Resorts Worldwide, Inc., 2010). 8. References About.com. (2010). Interest Coverage Ratio. Retrieved September 13, 2010, from beginnersinvest.about.com: http://beginnersinvest.about.com/od/incomestatementanalysis/a/interest-coverage-ratio.htm Ashpfoundation. (2009). SWOT Analysis. Retrieved September 21, 2010, from www.ashpfoundation.org: http://www.google.ch/imgres?imgurl=http://www.ashpfoundation.org/leadershiptoolkit/swot-analysis-sm.jpgimgrefurl=http://proiecte4.parvezbd.com/swot-de-starbucks.htmlusg=__6eEJug33fGnGxWj8RZmFQl5hfjg=h=371w=368sz=79hl=destart=0zoom=1tbnid=ui8SJD5s Credit Card Offers IQ. (2008). New Changes To The Starwood Amex Card. Retrieved September 21, 2010, from creditcardoffersiq.com: http://creditcardoffersiq.com/credit-card-news/new-changes-to-the-starwood-amex-card/ Euromonitor International. (2010). Starwood Hotel Resorts Worldwide Inc in Travel and Tourism World. Retrieved September 11, 2010, from www.portal.euromonitor.com: http://www.portal.euromonitor.com/Portal/ResultsList.aspx GuruFocus.com. (2010). HOT Starwood Hotels Resorts Worldwide Inc. ($47.45) . Retrieved August 27, 2010, from www.gurufocus.com: http://www.gurufocus.com/financials.php?symbol=HOT# Higgins, R. C. (2009). Analysis for Financial Management. New York: The McGraw- Hill Companies. Investopedia ULC. (2010). Fixed-Asset Turnover Ratio. Retrieved September 11, 2010, from www.investopedia.com: http://www.investopedia.com/terms/f/fixed-asset-turnover.asp Investopedia ULC. (2010). Gross Margin. Retrieved August 11, 2010, from www.investopedia.com: http://www.investopedia.com/terms/g/grossmargin.asp Investopedia ULC. (2010). Net Margin. Retrieved August 11, 2010, from www.investopedia.com: http://www.investopedia.com/terms/n/net_margin.asp Investopedia ULC. (2010). Return On Assets ROA. Retrieved September 11, 2010, from www.investopedia.com: http://www.investopedia.com/terms/r/returnonassets.asp Investopedia ULC. (2010). Return On Invested Capital ROIC. Retrieved September 11, 2010, from www.investopedia.com: http://www.investopedia.com/terms/r/returnoninvestmentcapital.asp Miles, D. P. (2009). Hotel Reward Programs: Starwood Preferred Guest (SPG). Retrieved September 21, 2010, from pointsmilesandmartinis.blogspot.com: http://pointsmilesandmartinis.blogspot.com/2009/06/hotel-reward-programs-starwood.html Palepu, K. G., Healy, P. M., Bernard, V. L., Peek, E. (2007). BUSINESS ANALYSIS AND VALUATION. London: Thomsom Learning. Starwood Hotels Resorts Worldwide, Inc. (2010). Company Overview. Retrieved September 9, 2010, from www.starwoodhotels.com: http://www.starwoodhotels.com/corporate/company_info.html Starwood Hotels Resorts Worldwide, Inc. (2010). Company Values. Retrieved September 9, 2010, from www.starwoodhotels.com: http://www.starwoodhotels.com/corporate/company_values.html Starwood Hotels Resorts Worldwide, Inc. (2010). Development Support. Retrieved September 8, 2010, from development.starwoodhotels.com: http://development.starwoodhotels.com/development_support/ Starwood Hotels Resorts Worldwide, Inc. (2010). Sales Marketing. Retrieved September 10, 2010, from development.starwoodhotels.com: http://development.starwoodhotels.com/sales_marketing/ Starwood Hotels Resorts Worldwide, Inc. (2010). The beauty of Starwood is the beauty of choice. Retrieved September 8, 2010, from development.starwoodhotels.com: http://development.starwoodhotels.com/brands/ Valane, J. (2009). Starwood Hotels Resorts: Fairly Valued At Current Price. Retrieved September 21, 2010, from seekingalpha.com: http://seekingalpha.com/article/35371-starwood-hotels-resorts-fairly-valued-at-current-price

The Social and Cultural Costs and Benefits of Entering a Sport Not Trad

The Social and Cultural Costs and Benefits of Entering a Sport Not Traditional to Your Sex/Gender Throughout time, sports have been thought of as feminine sports or masculine sports. Some sports that are thought of as feminine are gymnastics, swimming, tennis, riding, and ice-skating. These tend to be sports that emphasize beauty and grace. Men's sports tend to emphasize strength and power, like football, basketball, or bodybuilding. The social and cultural stereotypes that are placed on men and especially women in the sports world can be hard for an athlete to deal with. Men are expected to be masculine and strong in their sports, while females are expected not to overexert themselves and still keep their feminine appeal. Who is to say what sports are okay for men and women to participate in? Is it fair to place stereotypes on people who are just doing what they love to do? Will these stereotypes diminish over time? In history, women have been given a hard time for coming into sports. Since at least the late 1800s there have been myths about women in sports, some of which we are still working on debunking to this day. Some include the notion that sport masculinizes women, sports are medically risky for women, the female body was not made for sports performance, women are not interested in sports, and women cannot psychologically take the pressure of sports (Oglesby & Shelton, 9). Women were seen as fragile and unable to compete on the same level as men could in sports. Women of this time who played softball, basketball, or track were considered "unladylike" and were questioned of their femininity (Spears, 13). Public recognition of individual female athletes deals more with their feminine beauty and status than to athlet... ...ting could become a role model for a young boy who thought that people would think that he was gay if he skated. Although there are cultural and social costs associated with a person entering a sport that is not traditional for his or her gender, there are also some benefits. The question that only the athlete can answer is whether the benefits out weigh the costs enough to stick with it. I have hope that stereotypes in sports will become less observed. Sports have changed so much in the last century. Women were barely allowed to play certain sports like basketball at the turn of the last century and now we have professional woman's basketball. More changes are coming, slowly but surely they are coming. Just the fact that we are now questioning the costs and benefits of being in a sport that is not necessarily for your gender/sex is a step in the right direction.

Factors That Influence Communication Essay

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Family Friend, Morale Enemy essays

Family Friend, Morale Enemy essays It is a known fact that employers can not please everyone, but many have tried. In an attempt to recruit and keep desirable employees many companies have established family-friendly policies. It is these policies that have caused a controversy to arise with employees who do not have children and feel that they are not getting their fair share of benefits. As Burkett stated in Unequal Work for Unequal Pay, rather than boosting morale, in fact, the programs are having an opposite effect-and for logical reasons. Family-friendly policies include various programs that are designed to help employees balance the demands of work and family. They include alternative work arrangements and dependent care support as well as the government mandated Family and Medical Leave Act. In Unequal Work for Unequal Pay, Burkett states, family-friendliness, they say, pays by promoting loyalty and productivity, reducing absenteeism, tardiness, and turnover, and polishing a companys image. I, like Burkett, disagree with these claims and tend to agree with employees who are not married or do not have children. I believe that when work is involved everyone should be on equal ground. Why should any employee get special treatment just because they can procreate? I have two children and I want my job success to be based on merit. If I have earned it, then give it to me. If it involves benefits such as insurance coverage, then I will pay for my families share. I understand that on the days that my child is sick and required to miss school that it is my responsibility to stay home and take care of her. I will not abuse the situation or take advantage of it because I know that this creates a hardship for my fellow employees. Raising children is a sacrifice that I have chosen for myself. It is a sacrifice of my time and money. It is my primary job and should ...

Augustines Confessions essays

Augustine's Confessions essays In the Confessions, by Saint Augustine, Augustine addressed himself articulately and passionately to the persistent questions that stirred the minds and hearts of men since time began. The Confessions tells a story in the form of a long conversion with God. Through this conversion to Catholic Christianity, Augustine encounters many aspects of love. These forms of love help guide him towards an ultimate relationship with God. His restless heart finally finds peace and rest in God at the end of The Confessions. Augustine finds many ways in which he can find peace in God. He is genuinely sorry for having turned away from God, the source of peace and happiness. Augustine is extremely thankful for having been given the opportunity to live with God. Augustine uses love as his gate to Gods grace. Throughout The Confessions, love and wisdom, the desire to love and be loved, and his love for his concubine, are all driving forces for Augustines desire to find peace in God. The death of his fri end upsets him deeply, but also allows him to pursue God to become a faithful Christian. Augustine often experiences darkness, blindness, and confusion while attempting to find rest in God, but he knows that when he eventually finds him his restless heart will be saved. Augustine started out in childhood with a restless heart because he had to live in two different worlds. These worlds consisted of that of his mothers religious faith, and the world of everything else. These two worlds confused and disturbed Augustine as a child. In his mothers world, talk consisted of Christ the Savior and about the mighty god who helps us especially to go to heaven. In the other world, talk was about achieving. It seems as if Augustine felt that if he were to live in both of these worlds, his life would turn out to be nothing. He believed he would not accomplish anything he would be remembered for. He became unhappy with the idea of his life amounti...

Milestone Challenge Solution Essay Example | Topics and Well Written Essays - 2000 words

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Homework Essay Example | Topics and Well Written Essays - 500 words - 28

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