Hospitality Management Case Study Example | Topics and Well Written Essays - 2500 words

Hospitality Management - Case Study Example Moreover, it will discover the UK consumer trends, present the variety of backgrounds of investors and give a future outlook along with a forecast which has been urbanized to illustrate the industry and the factors moving its growth and future. In conclusion, it will comment on short-term and long-term investment as well as recommending an outcome for the investor. A Thistle Euston hotel, according to the EU, is defined as 'a communal accommodation enterprise, typified as being prearranged in rooms exceeding a countrywide specified minimum and as providing ordinary services, counting room service'. Usually, the UK definition is made according to the investment of a license to sell liquor. (Lawson, 1998) According to the newest beginning figures from the Hotel Thistle Euston Survey by Deloitte, the UK hotel industry has established to be the strongest entertainer in Europe in the first six months of 2004, by means of revenue per obtainable room (revPAR) rising 11 percent against the similar period in 2003, resulting from a balanced mix of rising occupancies and standard room rates. London, which is the most important performer in the UK, knowledgeable a 6% augment in standard room rate year on year (ACAS 2002). Budget Hotel is on the entire purpose-built, identified lodging unit by a smallest of 50 rooms and standard low prices. Personage units are frequently identified as lodges, inns or - less usually now - motels. Bed and Breakfast is a private house; several rooms of which are set aside for overnight guests whose paid lodging comprise breakfast. (The American Heritage Dictionary of the English Language) The competitive environment There is always tough competition amongst the key players inside the UK Hotel Industry: From the Smith Travel Research where the grand insist for the Residence Inn was at 30% and the supply was merely at 8%. The Marriott PLC has urbanized a new group called "Residence Inn" to adapt this great market insist. UK center market hotel brand, Thistle, is initiation a luxury worldwide sister - Guoman, which is set to spread internationally. In order to grow the brand Thistle intends to upgrade some existing properties in the UK and launch an "ambitious acquisition strategy" abroad. Whitbread has made the decision to decrease their experience to (and eventually exit from) the full-service hotels division where they are the UK operators of the Marriott brand, due to the low returns from this franchised commerce. The company also obtain Premier Lodge from Spirit Group for pound; 505 million, and combining Travel Inn and Premier Lodge and marketing them to the UK consumer under on brand (Ackers, P.

Why Are The Generation X Negatively Described Essay

Why Are The Generation X Negatively Described - Essay Example During his period, there existed rapid degeneration and disorganization of activities. Deaths occurred and the labor force most so in the US was vastly interrupted. Generation x is therefore known as the children of the baby boomers by the majority of the scholars (Mitchell, 2001). Generation x have been defined with relevance to the workplace ethics and several descriptions have also been put forward to explain the behavior of this group of people in terms of how they relate with other humans in the social sphere. They are described very negatively and their attributes made degenerative. They are the kind of people who are presumed to be very lazy at work and only prefer to work under specified and forceful conditions. Generation x exhibits a high level of arrogance given chance, and only work well under strict supervision. Generally, they don’t like work. Several research works have been put forward to try and make people understand this clot of people. It has been found out that a wide gap exists between the baby boomers and the generation x in terms of characteristics and behavior. Parameters like skill, ethics, knowledge, critical thinking and morality were critically and considerably identified as features that may exist to contrast the two generations of human beings (Coupland, 2008). Work ethics don’t exist in the category of generation x, they are very stubborn and do not even respect their seniors at work. They also do not perform work according to descriptions and the necessary accolades. It is generally argued that generation x are selfish individuals who look up to their family members for support of their daily livelihoods. To do not at all costs try to work hard and achieve one for their own. This argument may be true or not since humans are different, both in the way, they think and how they act. Therefore it should not be generally argued that the generation x category is selfish, lazy and do not want to work as this may compromis e the human nature of free thinking, liberty to act and critical and creative analysis of presented ideas as well as the urge to be independent in thought. Generally, generation x characteristics and behavior has only been influenced by time or the period where they were born. Despite this, they are still able to cope with the lifetime challenges just like any other human being. According to research work findings, it is true that technological trends keep up to date with them since they keep working hard to familiarize themselves with the recent changes. This has canceled the notion that they are lazy and do not want to work. The American labor sector was the very foundation of the noticeable characteristics of Generation X. In most employment circles, these characteristics were most noticeable in comparison to the previous generations like baby boomers that dominated most the workplaces then. Most people in this generation got into the workforce in the 1980s and were mostly judged by the existing generations. It must be emphasized that certain biases become inevitable in such judgments. The baby boomers are known to be hard workers who cherish perfection on the job and strive to attain excellence in the workplace. Generation X, on the other hand, is seen to be arrogant in most instances and will, therefore, make poor or strict managers. However, in comparison to Generation Y, the Generation Xers do not put much focus on monetary rewards in their selection of employment opportunities.  

Social Insurance Essay Example | Topics and Well Written Essays - 500 words

Social Insurance - Essay Example The drawback is that government funding also means government control which may not be as efficient as private control. In fact, government spending and legislative work on social insurance in America has been criticized by many who think that social insurance programs such as social security, unemployment insurance, workers compensation and Medicare may not be enough for the needs of future Americans. On the other hand, the current situation of these programs allows the government to distribute goods and services to a lot of people who would otherwise have to go without them. Amendments and changes to the way social insurance programs operate in America have been widely suggested and the government has been pushed to focus on these programs. While the government tries to assure the people that the money they have put into social insurance programs will help them in the future, many individuals believe that the expenses of the government and the current expenditure on the social insurance programs themselves will mean that the trusts guiding the programs will go bankrupt

An Analysis Of The Gift Market Within India Marketing Essay

An Analysis Of The Gift Market Within India Marketing Essay On the basis of the literature review and study of the gifting industry, there is a need to introduce a newer and more innovative way to gift for individuals as well as corporate houses. The research establishes the need for personalization  [3]  , creativity and uniqueness to enhance the value of a gift.  [4]  It helps communicate clearly how much meaning and value the recipient holds in the givers life. A gift which is personalized as per the recipients interests, personality and hobbies makes it a more memorable experience and is likely to lead to greater emotional connect between individuals and enhanced, more loyal business relationships for corporates  [5]  . In spite of the added advantages of a personal and well thought of gift, people and corporate houses are either hard pressed for time and are ready to pay a premium for convenience and saving time or they are at loss of how to express and what to communicate through a gift. Thus, establishing a need for service provider to fulfill the above need gaps. From a research perspective an attempt will be made to understand in the importance of personalization in gifting and the role of gist service providers in the process of gifting., 2.2 Research Gap Research for gifting amongst individuals throws light on what is gifting, what parameters do people look at before giving a gift, the trends and attitudes of certain target groups towards gifting, anxiety in the gifting process. Among corporates the research currently studies how corporate gifts help increasing and enhancing business relationships and marketing efforts. There is a need to study specific parameters that enhance the value of the gift and the gifting process. Through this project and the preliminary research, gaps in the gifting industry for individuals and corporates will be identified and researched further in detail 2.3 Nature of study The flow that will be followed to arrive at an entrepreneurial opportunity and business concept in the Indian gifting industry for the Venture Incubation project will include a literature review on the gifting industry and primary and secondary research to support the concept proposed. After this a business plan will be developed and tested in the market. Finally an experiential report of the same will be given. 2.4 Deliverables of the Venture incubation project Research findings An innovative package and concept to provide gifts in a unique manner and provide convenience to the individuals and corporates in the process of gifting Validation report by testing and implementing product and service offerings in the market Literature review 3.1 What is gifting? The following is a study of the meaning of gifting and the unique trends in consumer behavior related to gift giving. Challenges to retailers and the negative effects of gifting have also been studied to understand what are the influential factors affecting a gift giver and recipient. Why we shop, Emotional rewards and retail strategies, by author Jim Pooler(2003), explains Gifting as a form of Shopping from the heart. He states People will spend far more money to please another person with a gift than they will spend on shopping for themselves. According to his study, Gifting represents one of the most illogical shopping behaviors. Why are people so anxious to please others with gifts? Pooler (2003) describes Gifting as a tool to make a statement about ones feelings. This in turn leads to strengthening of an emotional bond between the giver and the recipient. The emotion or expense in a gift is considered a measure of ones respect, esteem or love for one another. Example- a child drawing a card for his mothers birthday or a lover writing a poem or a person spending hours looking for the perfect gift is making an emotional investment and represents what one person thinks of the other. Gifts act as a tool for expression especially when articulating ones feelings become difficult. In such a case, they act as mediator between the two people involved. According to Unitymarketingonline, the  Greeting Card, Stationery, Gift Wrap Party Goods and Paper Crafting Report 2007 is a $37.4 billion market  [6]  .The greeting card industry which specifically represents a $7.5 billion industry in the US market, thrives, on its ability to provide emotional expression. Greeting cards are also commonly used to accompany gifts well.  [7]  This multi-billion dollar industry offers real advantages of helping one express their deep emotions briefly besides saving time, effort, money and providing convenience.  [8]  According to Danziger, with 70 % of American household purchasing greeting cards, it makes it the third most frequently purchased product that people do not need. This directly implies the power of the gifting and emotional consumerism. Gifting is a two way process -A challenge disguised as an opportunity for the marketer and retailer in the gift business is the understanding that a gift is meant and directed both towards the receiver and the giver. According to Pooler (2003), A customer is always seeking re-assurance that the given gift will bring him/her as much emotional satisfaction as the person for whom he is buying it. Thus, gifts at one level bring personal satisfaction and are self-indulgent in nature. People are irrational when they gift- Another advantage for the marketer in the gifting business is the irrational and unjustified expenditure a consumer is willing to make on it, so as long as it makes emotional sense. Thus, customers are largely price insensitive, especially if the strength of the relationship between the receiver and giver is strong. This allows retailers t tap into the potential of high margin products. Gifting is largely occasion specific-Lastly, occasions and holidays such as anniversaries, Valentines days and in India religious festivals such as Diwali and Dhanteras represent an area of gifting where demand is literally inelastic. Not purchasing a gift on such days is unthinkable. Occasions such as Valentines, Anniversaries, Mothers day, where a son, husband, boyfriend is in a situation where he must make a purchase act as a major opportunity for specialty stores selling chocolates, flowers, and jewelery. Male shoppers are more ready to high prices and do not look for bargains in such situations thus presenting an advantageous scenario for retailers. Gifting leads to anxiety- David B Wooten has explored the negative effects of gifting by detailing the emotional trauma a giver goes through in the process of choosing the perfect gift for the recipient. Some of the factors that up the stress levels while gifting are:  [9]   Effect of the gift on the recipient- The giver is constantly thinking about the reaction of the recipient towards the gift and the consequential effect on their relationship.. This is possible when the effect of the gift on the recipient is positive and helps build and strengthen the relationship between the giver and the recipient. Thus, this represents an opportunity for retailers or gift service providers, who can make the experience of giving gifts simple and tension free. Obligation to reciprocate sparks tensions (Mauss1954) Disparities and comparison between gifts may lead to negative emotional outcomes (Belk and Coon 1993). This may be due to absence of set parameters or guidelines before exchanging gifts. Differences and expectations -Green and Alden (1988) cited differences between individual goals and group expectations as sources of anxiety among givers. Sherry et al. (1993) cited the unattainable expectations that recipients impose upon givers as a possible. Both act as sources of anxiety as the consequences of such differences and expectations are likely to be negative. Inappropriateness of gifts- can lead to frustration, social embarrassment, threaten social ties and likely to leave long lasting bitter memories. (Sherry et al. 1993). Recipient woes- Otnes et al. (1992)have points out different types of recipients Difficult and Picky ones have expectations that are either hard to meet and Unfamiliar ones have expectations that are hard to determine Such recipients impede a gift givers efforts . Dark side of giving  [10]   Concerns about gift interpretation and the fact that a giver cannot control these interpretations gifts suggest that that scholarship on self-presentation and social anxiety can help illuminate what has been called a dark side of giving. Retailers challenge and opportunity -Keeping in mind the above frustrations and anxiety that goes on in the mind of the consumer. It poses as a real challenge for marketers, retailers and new gift service providers to mitigate these anxieties. This may be providing convenience, better consumer insight, and personalized gifts. There seems to be a need for specialists in the gifting service AN EXPANDED MODEL OF ANXIETY IN GIFT-GIVING The expanded model of anxiety in Gift Giving proposed by Wooten in this research (Figure 1) explains the sources of the anxiety in gift giving . This brings out why retailers and marketers must try and mitigate these emotional anxieties NOTE.-All effects are positive unless otherwise noted. The letters G, R, and S denote characteristics of givers, recipients, and situations, respectively. Figure 1.1-Study of trends, attitudes and behavior of youth towards gifting. Megha Nainwal, Batch of 2004, MICA, 3.2 Gifting Industry- World and Indian Market The world gift market represents an industry in excess of $300 billion. It accounts for 10% of world consumer economy, which is equivalent to spending one out of every ten dollars on buying gifts.  [11]   The Indian gift market is still in nascent stages with per unit consumption being very low as compared to developed markets of US and Europe ( 0.5 as against 30+)  [12]  .The Indian Gift Market is a Rs.1000 crore gift market is looking up to progress at a rate of 10% (2007 estimates)  [13]  . A large part of this gift market is unorganized, thus making correct estimates of the size of the market difficult. The Premium and Gift Market is mostly concentrated out of the major cities. Mumbai is the largest centre, followed by New Delhi, Bangalore, Hyderabad, Chennai and Ahmedabad.  [14]   The Indian Gift market comprises of organized retail stores, local and regional players and social organizations as well. In the organized sector, the two leading players in the specialized gifting stores include Archies and Hallmark. The Indian market is highlighted by important festivals such as Diwali and Holi for gift giving , however, westernization of culture has led to occasions such as Valentines day, Mothers day, Father s day becoming popular gift giving occasions. 3.3 Gifting market- Social, shopping and gifting trends The following represent changing social, shopping and gift giving trends in the market: 1) General increase in gift purchasing budget- According to Unity Marketing online- The Ultimate Guide to the  American Gift Giving Market. The   Report 2007:The Who, What, Where, How Much and Why of Gift Giving Shopping  , the typical gift giver spent $2,643 on gift purchases in 2006, with an additional $78 spent on gift cards, wrapping paper, ribbons and other gifting accessories.   This represents an increase of 13.5 percent over the average amount spent by gift givers in 2005. 2) Gifting 365 days a year-According to,Pam Danziger, president of Unity Marketing and author of Shopping:   Why We Love It and How Retailers Can Create the Ultimate Customer Experience ,People are spending more for gifts on occasions that occur throughout the year rather than holiday occasions such as Christmas. 42 percent of gift shoppers annual budgets were spent buying gifts for gifting occasions, as compared to 38.5 percent in 2005.   There is no longer a single gifting season. 3) Corporate Gifting, a tool to enhance marketing and PR efforts- In the recent years Corporate gifting has emerged as an important tool in the market communication mix of companies. In the corporate world, gift giving can be a double-edge sword (Pachter, 1995).A corporate gift if tactfully presented can help improve business relationships with customers and employees, create goodwill, develop new relationships and promote the companys business. The three identified categories of corporate gifts are: Low value, High volume to promote companys name Standard gifts, suit most occasions and not occasion specific- They are perceived to be of higher value and presented in a more personal way Luxury gifts-high value, low volume products that address an individual and carry prestige based on strong brands (Mintel, 1997). There has been a shift in business gifting from it being a sales promotion tool to corporate gifting being used to build relationships. The total value of the promotional industry including corporate gifts and incentives was 10.1 billion in 2001 (Mintel, 2000, p. 16). Corporate gifting requires an organization to keep role, purpose, budget and recipient in mind while gifting. Secondly, the choice, occasion and timing of gift are important. Lastly, cross cultural implications of gift giving must be taken into account, because in some countries a gift may be considered a bribe. Corporate gifts should be chosen with care and maintain a personal touch. Research shows people appreciate personalized products especially if they use them regularly. Most successful gifts today are personalized or have a personal touch; they are more creative and more memorable  [15]  . One study estimates that more than one quarter of all business gifts today are imprinted with the recipients name or monogram (Feder, 1998). DSouza and Sansburys (2000) research on business gift-giving in India gives some interesting insights. Asked about gift giving 86 percent of respondents said they viewed it as a norm that businesses should practice. Additionally, the research shows it is common to accept gifts to close a deal and gifts often serve as a tool for strengthening supplier relationships. The research also talks about reciprocity, which is considered a universal moral standard (Steidlmeier, 1999) particularly in Asian business context to build trust, respect and show appreciation (Stafford, 1997). 3) Emerging specialized consumer segments-Gender separation as a trend is likely to find stores making specialty sections for men and women. Additionally, demographic targeting as per psychographic buying behavior will be important to meet consumer needs individually. Gift buyers can be segmented on the basis of their purchase behavior. The typical American Gift Shopper can be divided into the following personalities  [16]   Emotional Ethel/Ed most involved gift giver and shopper and spends the most time and enjoys the process as well. Both men and women fall into this segment almost equally.. Practical Patty Plans her gift shopping and is likely to make checklists and be practical about her purchases. She spends more than the average gift shopper. Gift-Challenged Charlie Wants and feel the duty of giving gifts but finds the process difficult in terms of finding and selection. He spends less than average on gift purchases. Just-in-Time Justin- gives importance to gifting and spends average on his purchases. He knows what to buy, however always waits till the last minute. The men and women ratio is 60 :40 Such segments mark a need for retailers and marketers to make efforts in meeting demands of these niche segments with specialized products and individually assess each consumers needs. Traditional, generic products for gifting are likely to lose out and there will be a rise in personal , customized products. 4) The evolution of the shopping hierarchy and Gifting for self  [17]   The traditional pyramid of shopping is evolving, as we find that the pie of shopping for self actualization, personal fulfillment and emotional gratification increases. Elaborating the fourth level of shopping for esteem needs, it is about people feeling good about themselves and the situation they are in life. And this feeling is derived from the things they own and purchase. The fifth level of shopping is extremely indulgent in nature and people are willing to spend a lot to acknowledge themselves and make one self feel good. Gifting being a self- indulgent activity as described in the research above, will fall in this level of shopping. Additionally, experiential shopping such as travel, cruises, spa treatments also fall in this category. These experiences are purchases purely for the value of the experience and not to show-off. According to a study among Attitude amongst Indian Youth on Gift purchase, 92% of the respondents between age 18 to 30 year olds bought gifts for themselves.  [18]   As the economies of the world progress and disposable income rises, most people will tend to fall in the category of shopping for self actualization. Access to internet to purchase time and convenience or buying tickets to a cruise that provides self actualizing experiences via dance shows, rock climbing walls, concept restaurants will be the norm. Fig 1.2 Jim pooler (2003), Why we shop, Emotional rewards and retail strategies Evolution of the levels of shopping,, pg 141 5) Experiential gifting  [19]   Not much importance has been given to experience gifts however, the UK marketplace alone, represents experiences bought as gifts from specialist experience companies (for example, Virgin Experience Days, Experience World) around  £239 million per annum (Mintel). Additionally, there is also an unknown figure for gifts bought from individual leisure, activity, entertainment, hospitality and tourism suppliers. Trade and lifestyle magazine evidence (Consumers Association, 2002; Knight, 2003) suggest that the intangible experience is an increasingly popular gift choice Unity Marketings Gift Tracker survey in the USA describes it as a hot gift category for the future (Souvenirs, Gifts, Novelties, 2005, p. 92) People are purchasing experiences to share and make memories with the people they love and even for themselves. As a marketer there is an unfulfilled need gap in the industry for such gifts especially in the Indian markets. 6) Internet shopping gaining ground  [20]   People prefer Internet shopping for many reasons. Convenience of shopping from home, more and better access of information, reduces hassle of travelling and shopping from stores and they dont particularly care about the in-store experience. The value- adds of internet shopping mitigates the disadvantages such as giving up experiencing the product, personal service and immediate physical transaction of goods. Online shopping statistics  out in  February 2009  show a significant annual increase of  13%.  [21]   According to a Nielsen study in 2008, India emerged as the 3rd biggest nation when it comes to online shopping and using a credit card online. Also, 85 per cent of the world Internet users purchasing goods or services online use credit cards as the most common form of payment. As competition increases it will become more and more important for websites to become favorable, memorable and unique in the minds of the consumers. 7) Choosing a thoughtful gift The Long Tail Gifting phenomena explains ,consumers will be looking for more and more unusual gifts that reflect a persons real interests.  [22]  . According to an Indian study on youth attitude toward gifting, the following were analyzed to be the most important factors influencing the decision of choosing a gift. Gifting what a recipient would like as per his tastes/interests, occasion, permanent reminder, unique, surprise value, individuality and personalization. All these factors spell a trend towards gifting something different and suited to the receivers personality. It is no longer enough to gift traditional gift items. Additionally, Indian businesses such as www.pringoo.com and www.craftmygift.com in addition to many other personalized gifting websites all around the world suggest a growth in this category. One can personalize any item from a mug to a mouse pad to even a wine bottle label. Gifts and Accessories, the only sourcing tool for novelties, states that Personalized product industry has very bright promising future ahead for a simple reason that everybody loves a personal message or their name on a product. Gift recipient would like 9% Strength of relationship 8% Quality 8% Occasion 8% Permanent reminder 7% Functionality 7% Uniqueness 7% Surprise value 7% Budget 7% Express Individuality 7% Personalization 7% Novelty /Humor 6% Themselves like to receive 6% Handcrafting 5% Brand make 1% Fig 1.3 Factors in order of importance while choosing a gift  [23]   8) Time is money As work pressures continue, more and more consumers will find themselves spending more money to buy time. The case of working women must be kept in mind who will find themselves multi-tasking and more willing to spend greater portions of the household income to save time.  [24]   This implies the need for service providers to provide convenience to consumers in terms of time and effort spent. As marketer/retailer, one can charge a premium for providing such services. 9) The new old Consumers will find themselves producing homemade, hand crafted gifts such as wood carvings, paintings etc.  [25]   10) New Gifting categories such as Virtual gifting- Facebook applications such as Farmville, restaurant city and free gift applications will emerge. Other examples of emergent categories include green gifts for the environmentally concerned.

Cultural Dicersity/ With References Essay -- essays research papers

Cultural Diversity in the Work Place In today’s work environment, it has become more evident and vital than ever to foster cultural diversity. Business organizations that want to stay in business are integrating their global and local business efforts along with cultural diversification. However, the path that leads to cultural diversity is not an easy one. Issues and conflicts may slow down, and even restrain, efforts to integrate cultural diversity in the workforce, but the need to embrace and make cultural diversity work is a sensible and attainable prospect. Diversity refers to all those differences that can mark human beings such as age, nationality, language; color of skin and the way people behave due to different cultural background. Prejudice is an unreasonable attitude or bias regarding those differences. Awareness of workforce diversity has been growing since the late 1980's, when the U.S. Bureau of Labor Statistics (BLS) and the Hudson Institute published "Workforce 2000." The report predicted major shortages of labor due to a drop in the nation's birth rate during the 1960's and 70's. Because the drop in birth rate was most profound among native-born Caucasian Americans, the report predicts a major shift in the demographics of the U.S. work force. White females, minorities and immigrants will comprise 85% of those entering the work force in the year 2000. This shift will change not just employment, but also benefits, advancement and other aspects of working in America. As the workplace and marketplace continue to change, more and more companies are educating their employees on cultural diversity awareness. An understanding of the issues that arise due to the differences between gender, age, religion, lifestyles, beliefs, physical capabilities and cultures is needed to bring out the best in all of us. The creativity, flexibility and commitment gained from our interactions with other cultures and peoples will empower us all. Barbara Stern who is vice president of Boston-based Harvard Pilgrim Health Care (HPHC) argues that what has traditionally been a â€Å"soft† issue is now becoming a business necessity in terms of better serving customers, understanding markets, and obtaining full benefit from staff talents (Schmerhorn, pp.77). The issues and conflicts that affect the effectiveness of cultural dive... ...m feeling disregarded or left out, time wasted when conflicts and misunderstandings arise, and capital resources allocated on legal fees and settlements. Fortunately, today’s business organizations are increasingly recognizing the importance of a more inclusive and equitable work environment as their bottom line. When describing the need and path that business organizations require to stay competitive and successful in their local and global markets, cultural diversity will always require attention. Business organizations will not only understand and respond to the needs of its customers, but it will also ensure its survival and productive workforce. References Chen, Christine Y., Hickman, Jonathan. (2000, July 07) America's 50 Best Companies For Minorities [Online]. Reuters: fortune.com/ fortune/ diversity/ company4.html Gardenswartz, Lee Ph. D., Rowe, Anita. Human resource focus, July 1998. V. 75 N7. PS1 (3) Why diversity matters. Newstrom, J.W., Davis, Keith. (1993). Organizational behavior human behavior at work. NewYork: McGraw-Hill, Inc. Schermerhorn, JR. jr., Hunt, J. G., Osborn, R.N. (2000). Organizational behavior. NewYork: John Wiley & Sons, Inc.

Coming of Age in A Tree Grows in Brooklyn :: Tree Grows in Brooklyn Essays

Coming of Age in A Tree Grows in Brooklyn Betty Smith's A Tree Grows in Brooklyn presents the problems of a child growing up, the coming of age when one meets challenges and overcomes obstacles. The protagonist, Francie Nolan, undergoes a self-discovery as she strives to mature living in the Brooklyn slum despite its poverty and privation. Thus, Smith's thematic treatment of the struggle of maturity has become for the reader an exploration of loneliness, family relationships, the loss of innocence, and death and disease. One of the challenges of growing up is loneliness. As a small child living in Brooklyn Francie had no friends her age, the kids in her neighborhood that would have been candidates for friends either found her too quiet or shunned her for being different. Betty Smith describes on page 106 how most of Francie's childhood days were spent: "So in the warm summer days the lonesome child sat on her stoop and pretended disdain for the group of children playing on the sidewalk. Francie played with her imaginary companions and made believe they were better than real children. But all the while her heart beat in rhythm to the poignant sadness of the song the children sang while walking around in a ring with hands joined." As time went by and Francie got older she began to get to know a different kind of loneliness. Betty Smith narrates her feelings on page 403: "Spring came early that year and the sweet warm nights made her restless. She walked up and down the streets and through t he park. And wherever she went, she saw a boy and a girl together; walking arm-in-arm, sitting on a park bench with their arms around each other, standing closely and in silence in a vestibule. Everyone in the world but Francie had a sweetheart or a friend she seemed to be the only lonely one in Brooklyn without a friend." Loneliness is one of the challenges we must all conquer as part of maturing and it helps us learn to be independent and overcome hardship. Family relationships are a second problem faced by all in their coming of age. Francie loves her Johnny Nolan, her father, more than anything, she adores the way he talks and the way that he sings.

Fi 360 Week 2

3-2. Dixon Shuttleworth has a large sum of money that he wants to invest to finance his retirement. He has been presented with three options. The first investment offers a 5% return for the first five years, a 10% return for the next five years, and a 20% return thereafter. The second investment offers 10% for the first ten years and 15% thereafter. The third investment offers a constant 12% rate of return. Determine which of these investments the best for Dixon is if he plans to retire in the following number of years. a. ifteen years b. twenty years c. thirty years 3-4. You have a trust fund that will pay $1 million exactly ten years from today. You want cash now, so you are considering an opportunity to sell the right to the trust fund to an investor. a. What is the least you will sell your claim for if you could earn the following rates of return on similar risk investments during the ten-year period? a. 6% b. 9% c. 12% b. Rework part (A) under the assumption that the $1 million payment will be received in fifteen rather than ten years. c.Based on your findings in parts (a) and (b), discuss the effect of both the size of the rate of return and the time until receipt of payment on the present value of future sum. 3-5. You have saved $10,000 toward a down payment on a home. The money is invested in an account earning 7% interest. You will be ready to purchase the new home once your savings account grows to $25,000. d. Approximately how many years will it take for the account to reach $25,000? e. If the interest rate doubles to 14%, how many years will pass before you reach your $25,000 target? 3-10.Liliana Alvarez’s employer offers its workers a two-month paid sabbatical every seven years. Liliana, who just started working for the firm, plans to spend her sabbatical touring Europe at an estimated cost of $25,000. To finance her trip, Liliana plans to make six annual end-of-year deposits of $2,500 each, starting this year, into an investment account ear ning 8% interest. d. Will Liliana’s account balance at the end of seven years be enough to pay for her trip? e. Suppose Liliana increases her annual contribution to $3,150. How large will her account balance be at the end of seven years?