Architecture And Sustainable Tourism

Architecture And Sustainable Tourism Tourism has been one of the economic success stories of the last 40 years. It has grown into a major component of the world economy and one of the most highly developed and dynamic industries with an important contribution to incomes and employment. Tourism has been rapidly growing sector and a wide-sweeping socioeconomic phenomenon with broad economic, social, cultural and environmental consequences. It is likely that tourism will continue to dominate the international scene for many years to come. (Sharma, 2001) The environment is probably one of the most important contributors to the desirability and attractiveness of a destination. Scenic site, amenable climates and unique landscape features have an important influence in tourism development and the spatial distribution of tourist movements. Apart from environment, the other important tourist puller is culture in all its diversity across continents. Cultural tourism has long existed, but recent demographic, social, and cultural changes in the main source countries have led to an increasing number of new niche markets in destination countries, including culture-oriented holidays. However, like other forms of development, tourism has also contributed to its share of problems, such as social interruption, loss of cultural heritage, economic dependence and ecological degradation. (UNEP, WTO, 2005). Learning about the brunt of tourism has led many tourists to seek more conscientious holidays. These incorporate various forms of sustainable tourism such as: nature-based tourism, ecotourism and cultural tourism. The major problems arise because the environment (at least in the short term) is a zero priced public good and as with any zero-priced good, is subject to excess demand and over-utilization. This over-utilization of the natural resources and exploitation of cultural heritage especially during the peak periods of tourist activity as well as often ill planned tourism development, have provided a number of examples where tourism is in conflict with the environment (Coccossis, Parpairis, 1995). Not only that, as a result of environmental consciousness, a great n umber of alternative forms of tourism been developed in the last decade. Sustainable Tourism promotes limited-scale, low-impact, community-based activities. It may be defined as tourism that gives emphasis to the contact and understanding between the hosts and the tourist, as well as the environment (Smith Eadington, 1992) or as tourism consistent with the natural, social and community values and that allows a positive relationship among locals and tourists. (Wearing Neil, 1999). Sustainable environment requires sustainable design. Architecture and design can preserve the memorable and old monuments while it can also create new and attractive qualities in which people can use and enjoy. Architecture has the talent of defining spaces and therefore has a powerful influence on the human behaviour and understanding and this is exactly what is always taken into account in sustainability, maximizing economic benefit and preserving the ecosystem. But what should be the approach to this design to achieve all goals of sustainable tourism or rather what are the tools and principles of architecture that need to be adopted to embrace sustainable tourism need to be developed. Thus the question to be answered is: What should be the architectural approach for sustainable tourism? Defining Sustainable Tourism Sustainable tourism is often considered to be a special kind of tourism that appeals to a particular market niche that is sensitive to environmental and social impacts. This is a narrow view as sustainable tourism is much more than a discreet or special form of tourism. The term sustainable tourism refers to a fundamental objective to make all tourism more sustainable. It is a continual process of improvement, one which applies equally to tourism in cities, resorts, rural and coastal areas, hills and protected areas. It should be thought of as a condition of tourism, not a type of tourism. Sustainable tourism is based on the three pillars of sustainability (economic, social and environmental) and is simply defined by the World Tourism Organization as: Tourism that takes full account of its current and future economic, social, and environmental impacts, addressing the needs of visitors, the industry, the environment and host communities. (WTO, 2005) Sustainability is a process and not an end state. The built environment and Tourism Tourism has an adverse effect on built environment. It could be on architectural faà §ade, change of landuse, overburdening of infrastructure etc. Large scale construction of tourist facilities and other infrastructure tends to change the land use of an area and also disturb the natural ecological harmony of a destination. Also tourism brings changes to the vernacular technology and sometimes the traditional constructions simply vanish giving way to modern construction which is most of the time not following and principles of sustainability. Instead they create harm to the destination, eventually losing the character, being environmentally disturbing and not suited to the needs apart from commercial aspect. Some of the other impacts of tourism on built environment and architecture of a place are: over-intensive urbanization, illegal constructions, pollution, negative aesthetic changes, degradation of quality etc. Need Identification Tourism now accounts for 10% of the worlds economic activity but at the same time it has major impacts on the natural and built environments and as well as on well being and cultures of host population. Ecological, social and economic sustainability are intertwined. Tourism and architecture may be connected to the benefit of the two and ultimately to the benefit of the people. There has been only a very little research on the role of architecture and the approach that should be followed when targeting sustainable tourism. Since building activities like construction of hotels, guest houses, tourist centres, commercial centres etc dominate the development of tourism at any place, there is a need to develop an approach and policy on architectural developments as part of sustainable tourism. This problem is of fundamental importance as it has led to the absence of an adequate theoretical foundation for understanding the dynamics of alternative tourism and the social activities it involves and responding to it accordingly. Sustainable design and planning do not jeopardize the economical benefits that a healthy tourism industry can bring; on the contrary, they can enhance local peculiarities and make use of traditional knowledge and expertise. Where sustainable methods and materials are employed, buildings can be both ecologically and economically profitable, thanks to their lower construction and life cycle costs. This dissertation will be a small effort in the same direction. Scope Sustainability does not require a diminished quality of life, but it does require a change in mindset and values toward a less consumptive lifestyle. These changes must embrace global interdependence, environmental stewardship, social responsibility and economic viability. Various government bodies, international organizations and conventions have stated the importance of tourism and its sustainability. Many countries as well wish to or have already initiated the pursuit to policies of sustainable tourism. In fact one of the most important issues in sustainable development of tourism resources is the consideration and expansion of design and construction standards in order to reach an optimum use of energy, water and land resources. The scope of the study will be to understand sustainable tourism and its forms keeping in mind the delicate destinations specially, be it in terms of their ecosystem, cultural heritage or economic stability and state principles that should govern the architectural design and planning of the tourism infrastructure keeping in mind sustainability as defined above. To lay down the architectural ethics in planning and designing of tourist needs like hotels, guest houses , activity centres etc suitable to the ecosystem ,society and economy. The study will concentrate on the fragile destinations since there is more need there but the applications will be in general universal. The scope of research is in guidelines published by international bodies keeping in mind Indian destinations. Limitations The case studies where sustainable tourism developments have been implemented will not be accessible physically and the research will have to depend on secondary sources of data. The primary case study will be covering a destination which is fragile ecologically, culturally and economically. It might not be possible to make multiple visits and at the same time while doing the survey the lack of academic knowledge regarding the subject amongst hosts could lead it directionless. None of the tourist destinations in India has adopted sustainable tourism as a whole. Few resorts, localities etc have adopted sustainability within them. Sustainable tourism is a relatively new term; the research on it will be limited to data over the past 3o years only. Since the scope has to be limited the research will concentrate particularly on role of architecture in sustainable tourism and not other means of achieving it. When formulating the survey questionnaire, the lack of knowledge about sustainable tourism might lead to indirect framing of questions. Also people will have to be relied upon for being honest which might not be the case for all. 1.7 References and Bibliography References Khaksar,A., Tahmouri,A., Hoseinrazavi,S., 2001, The Reciprocal Effects Of Architecture And Tourism: The Sustainability Approach, Allameh Tabatabai University, Tehran, Iran Sharma,K., 2011, Sustainable Tourism Development Through Sustainable Architecture: A Projected Case Study of Coxs Bazaar, Bangladesh. Masters thesis, University of Huddersfield UNEP and WTO, 2005, Making Tourism More sustainable: A guide for policy makers

Lie

Ruby Villainies Moline Miss Kim 10 Semester September/2014 Lying for what? Secrets are everywhere, all around the world going back and forth, you see or heard them everywhere you go. Everyone has secrets, like the government, friends, teachers, including your family; but have you ever considered why do people lie? Why do we keep information? Why do we not speak or say all what we think? And what are the consequences if I lie?People lie because of the fear of the consequence of truth, to appear to be important and to â€Å"protect† others. The reasons why people lie are so varied; now at days the two principal reasons are to avoid hurting the feelings of others or to solve or avoid uncomfortable situations; like when you tell the people you are â€Å"fine† when you are sad or depressed or when you say that you already have a plan when actually you don ‘t want to go out with someone, the common known as white lies.Another reason is to have a â€Å"good† self- esteem or being accepted by others exaggerating a situation (inventing stories) creating a fake impression to the there pretending being some else because she or he does not feel good about his or herself, in fact all of this is caused by the reason that she or he has a low self-esteem and they need to feel that someone worry about them; a good example of this is when you meet someone that doses ‘t want you to know who is he or who she really is, so they lie to you about their-selves.And the last reason is to avoid others of feeling fear or be concerned; like the ones the government says because they need to pep some information in secret, but all of this is bad, at the end it becomes a bad and destructive habit or you get into a point where you can ‘t stop lying, because you need to protect one lie you have said and even if you want to say the true, you can ‘t (it becomes a vicious circle); like Steve H. Said: â€Å"lies grow, they never stand alone, they need mo re lies to support the first lie.So, if you don't fess up immediately†¦ It grows like a cancer. It cannot be stopped; however all of this happens because we are not blew to say or hear the truth, we prefer to live on a fake reality that on the real world† When we lie, we are trying to deceive others, when in reality the only person you are fooling is yourself by trying to create a fake reality to Justify your mistakes and our lack of responsibility and actually at the end we end up believing them, a reality that we create.Like I have said, lying can become a destructive habit, it can hurt everyone around, destroy the credibility of the people and create distance between the liar ND the lied, when really think about it, there is not a reason to say a lie because at the end the truth is always discovered and the main reason why you start lying you hurt it and you will end losing. Or example a friend asked you how does she/he looks on a cloth and he/she looks horrible and yo u lie to him/her because you don ‘t want to hurt him/her feelings and at the end he/she discovered the truth, she/he is not going to believe on you again and you also hurt her/his feelings; so what is the point of lying? At the end the principal person that gets hurt is you; but in the other way you told her/him that she/he looks horrible, the only think that could happen is that he/she gets changed and that is all.Concluding all have said lying is bad decision that at the end the only person you are fooling more is you. So there is no reason to lie in any case, it is easy to say the truth first than then retract whatever you have said and try to regain the confidence of others after losing it, and that we have the ability to solve our problems and / or to adequately handle unexpected events. What happens is that we are such cowards that we decide to go for the â€Å"easy' and â€Å"secure† side and at the end we end hurting ourselves.

Corporate finance Essay

1 Bonds (3 points) A company aims to takeover one of its suppliers valued at 2 million Euros and is planning to fund the takeover by issuing three-year zero coupon bonds, each with face value C1000. After having their credit rating checked, executives have decided that they need to issue 2400 of these bonds to raise the 2 million needed to fund this takeover. What is the YTM of the bonds issued by the company? (a) 5.79% (b) 7.13% (c) 6.27% (d) 5.34% If the company’s credit rating changes due to recent earnings announcements and the YTM of the bonds should now be 4.4% how many bonds must the company issue to raise 2 million Euros? (a) 2351 (b) 2276 (c) 2248 (d) 2302 Suppose that the company may default on these bonds with a 25% probability. In case of default, bondholders will receive 60% of the face value of bonds. If the price of the bonds is same as in part (a), what is the YTM in this case? (a) 3.1% (b) 2.9% (c) 2.6% (d) 3.4% 1 2 Financial statements (4 points) Use the following information for ECE incorporated: Assets Shareholder Equity Sales $200 million $100 million $300 million If ECE reported $15 million in net income, then ECE’s Return on Equity (ROE) is: (a) 5.0% (b) 7.5% (c) 10.0% (d) 15.0% If ECE’s return on assets (ROA) is 12% , then ECE’s return on equity (ROE) is (a) 10% (b) 12% (c) 18% (d) 24% If ECE’s net proï ¬ t margin is 8% , then ECE’s return on equity (ROE) is: (a) 10% (b) 12% (c) 24% (d) 30% If ECE’s earnings are $10 million, its price-earnings ratio is (a) 10 (b) 5 (c) 20 (d) Cannot be determined 2 3 Capital budgeting (3 points) Fancypants Fashion is going to purchase new sewing machines worth 50 million Euros to manufacture purple trousers for the coming ï ¬ ve years, after which purple trousers will be out of fashion and no longer in demand. The machines will be depreciated on a straightline basis over ï ¬ ve years, and after ï ¬ ve years will be sold at an estimated 20 million Euros. The company estimates that the EBITDA from the sale of purple trousers will be 12 million Euros per year for the coming 5 years. The company’s earnings are subject to a corporate tax rate of 40%. If the ï ¬ rm’s equity cost of capital is 9.6% what is the NPV of this project? (a) 0.48 million Euros (b) 0.72million Euros (c) 0.26 million Euros (d) 0.92 million Euros Instead of selling the machines after ï ¬ ve years, the company can use them to produce grey trousers starting in year 6. If they do so, using these machines the company will generate free cash ï ¬â€šows of 2 million Euros per year in perpetuity, since grey trousers are classics and never go out of fashion. What is the NPV of the project if the company chooses this option? (a) 5.89 million Euros (b) 5.72 million Euros (c) 6.36 million Euros (d) 6.07 million Euros Suppose that the company has decided that they will use the machines to produce grey trouse rs after ï ¬ ve years. The company can ï ¬ nance the purchase of new sewing machines entirely by debt by issuing 5-year bonds with 6% coupon rate sold at par. Assuming this additional borrowing is project-speciï ¬ c and hence will not alter the company’s capital structure, what is the value of the project with the tax shield? (a) 11.56 (b) 11.94 (c) 12.25 (d) 11.12 3 4 More capital budgeting (4 points) Use the following information for â€Å"Iota Industries† (all ï ¬ gures in $ Millions) Iota Industries Market Value Balance Sheet Assets Liabilities Cash 250 Debt 650 Other Assets 1200 Equity 800 The company considers a new project with the following free cash ï ¬â€šows: Iota Industries New Project Free Cash Flows Year 0 1 2 3 Free CFs -250 75 150 100 Assume that Iota Industries has a debt cost of capital of 7% and an equity cost of capital of 14%. Furthermore, it faces a marginal corporate tax rate of 35%. If the project is of average risk and the company wants to keep its debt-to-equity ratio constant, its weighted average cost of capital is closest to: (a) 8.40% (b) 9.75% (c) 10.85% (d) 11.70% The NPV for Iota’s new project is closest to: (a) $25.25 million (b) $13.25 million (c) $9.00 million (d) $18.50 million The Debt Capacity for Iota’s new project in year 0 is closest to: (a) $263.25 million (b) $87.75 million (c) $50.25 million (d) $118.00 million If instead of maintaining a ï ¬ xed debt-equity ratio Iota ï ¬ nances the project with $100 million of permanent debt, the NPV of the project is closest to (a) $44.28 million (b) $48.10 million (c) $53.44 million (d) $48.14 million 4 5 Arbitrage (4 points) An exchange traded fund (ETF) is a security that represents a portfolio of individual stocks. Consider an ETF for which each share represents a portfolio of two shares of International Business Machines (IBM), three shares of Merck (MRK), and three shares of Citigroup Inc. (C). Suppose the current market price of each individual stock are shown in the following table: Stock IBM MRK C Current Price $121.57 $36.59 $3.15 What is the price per share of the ETF in a normal market: Assume that the ETF is trading for $366.00, what (if any) arbitrage opportunity exists? What (if any) trades would you make? 5 6 NPV and exchange rates (2 points) You have an investment opportunity in Germany that requires an investment of $250,000 today and will produce a cash ï ¬â€šow of C208,650 in one year with no risk. Suppose the risk -free rate of interest in Germany is 7% and the current competitive exchange rate is C0.78 to $1.00. What is the NPV of this project? Would you take the project? (1 point) (a) NPV = 0; No (b) NPV = 2,358; No (c) NPV = 2,358; Yes (d) NPV = 13,650; Yes Explain in a few sentences the intuition behind your answer. (1 point) 6 7 Options (4 points) Which of the following statements is false? (a) The option delta, ∆, has a natural interpretation: It is the change in the price of the stock given a $1 change in the price of the option. (b) Because a leveraged position in a stock is riskier than the stock itself, this implies that call options on a positive beta stock are more risky than the underlying stock and therefore have higher returns and higher betas. (c) Only one parameter input for the Black-Scholes formula, the volatility of the stock price, is not observable directly. (d) Because a stock’s volatility is much easier to measure (and forecast) than its expected return, the Black-Scholes formula can be very precise. The current price of KD Industries stock is $20. In the next year the stock price will either go up by 20% or go down by 20%. KD pays no dividends. The one year risk-free rate is 5% and will remain constant. Using the binomial pricing model, the price of a one-year call option on KD stock with a strike price of $20 is closest to: (1 point) (a) $2.40 (b) $2.00 (c) $2.15 (d) $1.45 The risk neutral probability of an up state for KD Industries is closest to: (a) 37.5% (b) 60.0% (c) 40.0% (d) 62.5% Using the risk-neutral pricing model, the price of a one-year call option on KD stock with a strike price of $20 is closest to: (1 point) (a) $2.40 (b) $2.00 (c) $2.15 (d) $1.45 7 8 Financial Distress (3 points) Suppose that you have received two job offers. Rearden Metal offers you a contract for $75,000 per year for the next two years while Wyatt Oil offers you a contract for $90,000 per year for the next two years. Both jobs are equivalent. Suppose that Rearden Metal’s contract is certain, but Wyatt Oil has a 60% chance of going bankrupt at the end of the year. In the event that Wyatt Oil ï ¬ les for bankruptcy, it will cancel your contract and pay you the lowest amount possible for you to not quit. If you do quit, you expect you could ï ¬ nd an new job paying $75,000 per year, but you would be unemployed for four months while searching for this new job. If you take the job with Wyatt Oil, then, in the event of bankruptcy, the least amount that Wyatt Oil would pay you next year is closest to: (a) $45,000 (b) $50,000 (c) $54,000 (d) $75,000 Assuming your cost of capital is 6 percent, the present value of your expected wage if you accept Rearden Metal’s offer is closest to : (a) $133,000 (b) $138,000 (c) $140,000 (d) $144,000 Assuming your cost of capital is 6 percent, the present value of your expected wage if you accept Wyatt Oil’s offer is closest to: (a) $138,000 (b) $140,000 (c) $144,000 (d) $150,000 8 9 Real Options (3 points) You own a small manufacturing plant that currently generates revenues of $2 million per year. Next year, based upon a decision on a long-term government contract, your revenues will either increase by 20% or decrease by 25%, with equal probability, and stay at that level as long as you operate the plant. Other costs run $1.6 million dollars per year. You can sell the plant at any time to a large conglomerate for $5 million and your cost of capital is 10%. If you are awarded the government contract and your sales increase by 20%, then the value of your plant will be closest to: (a) $5 million (b) $8 million (c) $0 (d) $4 million If you are not awarded the government contract and your sales decrease by 25%, then the value of your plant will be closest to: (a) -$1 million (b) $5 million (c) $8 million (d) $0 Given the embedded option to sell the plant, the value of your plant will be closest to: (a) $5.0 million (b) $4.0 million (c) $6.5 million (d) $8.0 million 9

The Hunger Games By Max Weber - 1437 Words

Social stratification is a concept used within sociology that explains the divisions and social inequalities of large groups of people within a particular society. The Hunger Games (2012) is a film that demonstrates this through amplifying how the power of the rich members in a polarised society are taking control of the poor and separating them in different districts which create specific social rankings. This essay will use the perspective of conflict theory to examine how Australian society is also effected by social stratification and therefore divided in social classes which effects their access to social equalities. Social Stratification can be explained as members of a society being placed into a hierarchy where they are†¦show more content†¦Putting this into the context of The Hunger Games (2012), the bourgeoisie are the ‘The Capitol’ whom have distributed the poorer into 12 separate districts where resources are scare and each represent a different area of labour. This is where The Capitol exploit the work of the districts in order to remain within their political dominance and maintain their luxurious lifestyle (Simmons 2012). This clearly describes these 12 divisions as the proletariat as they have no control or ownership over the means of production and are provided with a minimum wage in order to survive. This imbalance of wealth, status and social inequality is illustrated within the movie when the main character Katniss Everdeen is shown within her district where people are dying from starvation, to making her arrival upon the Capitol and being met with banquets of food which could suffice her entire district. Overall this shows that the social stratification within The Hunger Games (2012) is demonstrated through the strict differentiations between two classes which Karl Marx would describe as the capitalists and working class. 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