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Energy Conservation for Solving Climate Change Problem Essay. The earth is warming due to greenhouse gases that come mainly from the way we use resources, travel, and create energy. Consequently, the subjects of climate change, global warming, and energy conservation are major talking points and news items in everyday life. Most people worry about the consequences their resource consumption when they hear news about climate change and its subsequent damage to the environment. Moreover, most people assume that the government will solve this problem even though the consequences of too much energy consumption are individual. The ability to solve the problems that are associated with energy consumption depends on individuals changing their ways in order to make positive differences. Consequently, if most people would change their habits of consumption this move would help in solving the problem of environmental degradation. The most significant way of changing people’s habits is to begin with early education programs for children with the view of instilling good conservational practices from this early age. The United States Environmental Protection Agency reports that of all the ways energy is used in America, about 39% is used to generate electricity. Therefore, the consumption of electricity has a major impact on the environment. According to current research, “the goal behind energy conservation is to reduce the country’s reliance on fossil fuel-based energy production, thus reducing the emission of harmful airborne pollutants and greenhouse gases as well as the related environmental harms associated with coal production” (Babcock 94). It might surprise people to know that it is not industries or large corporations that use the most electricity. Instead, American homes use the largest portion of electricity. Since the 1970s, sales of electricity to U.S. households have been more than the ones in the commercial sector (Babcock 944). The large increase in electricity consumption by homes is partly due to population growth and the increased number of single-family households. The largest consumer-based uses of electricity in the United States’ households in 2001 were central air-conditioning and refrigeration, which adds up to around fourteen percent of the total residential energy consumption (Babcock 944). The “number of households with central air-conditioning doubled between 1980 and 2003… addition 106 million households with color TVs accounted for thirty-three billion kilowatt-hours” (Babcock 944). Furthermore, color televisions comprised the largest single home-electronic use in 2003. When television use was combined with its supporting devices such as VCRs/DVDs, cable boxes, and satellite dishes, its total energy consumption came to approximately sixteen billion kilowatt-hours. At the same time, many families (sixty million) have personal computers, internet access, as well as printers that use up to twenty-three billion kilowatt-hours of energy per year (Babcock 945). The Energy Information Administration reports that the demand for electricity that is used to power household appliances and home electronics, particularly color TVs and computer equipment will increase rapidly in the next 20 years. Nevertheless, lighting uses only 8.8 percent of the United States household electricity on average but this is still a large amount (Babcock 945). Therefore, having people turn off their lights when not in use makes a big impact. So, where does all this electricity come from? The most common source of domestic electricity is coal-fired plants followed by natural gas and nuclear sources. “The most common source of electricity continues to be coal-fired plants, which emit pollutants like particulate matter, sulfur dioxide, mercury, as well as greenhouse gases” (Babcock 946). The Energy Information Agency shows the following graphic related to energy use in the United States: Although we often hear of alternative energy sources like solar or wind power, they only make up only a small amount of the electricity that is produced and consumed in the United States. Even though family homes make up the largest users of electric energy in the United States, “research indicates that most people only have a vague idea of how much electricity is consumed by their household appliances whereas most electricity consumers do not have any idea of how to save energy in an appropriate manner, and what sort of difference they could make by changing day-to-day behavior or investing in efficient measures” (Babcock 946). Furthermore, “all forms of electricity generation have some level of environmental impact” (EPA 1). Unfortunately, most people do not realize how much of this overall electricity use comes from individual families. “The persistence of the myth that only industry is responsible for environmental harm and the difficulty individuals have understanding how their seemingly minor actions (changing a light bulb) can accumulate into more serious, widespread harm (polar bears drowning as the planet warms), contribute to the resistance of individuals to changing their environmental behavior” (Babcock 951). A significant amount of energy consumption is taken up by individual purchases of manufactured items. For example, in 2007 254 million tons of waste was generated from industrial processes that are responsible for the manufacture of consumer products. Out of this total amount, 12% was plastic, which adds up to more than 30 million tons of plastic in one year (Plastic Recycling Facts 1). In addition, “it takes about 15 million barrels of oil per year to make all of the plastic water bottles in America, according to the Container Recycling Institute” (Dorji, Panjaburee, and Srisawasdi 91). A total of thirty-eight billion water bottles alone are thrown away after they are used each year (Schriever 1). All of these bottles do not just disappear. Instead, they often end up in our seas and oceans. As an engineer, I know that modern engineering design is developing in order to change the way energy is used. For example, the federal government is the largest user of energy in the United States, so federal engineers have focused on energy management. It is important to note that as buildings and other structures age, they use up more energy. This problem could exacerbate the issues of energy conservation in future because the demand for new buildings is still on the rise. However, as a response to the problem of energy wastage by government buildings, some money is being invested to upgrade them. Did you know that buildings themselves cause 1/3 of all the greenhouse gases in the world? This trend is mostly fueled by the fact that the energy used to light and heat them is a major point of consumption. In addition, the cement used to build most structures causes large amounts of greenhouse gas to be released to the atmosphere. Engineers know that if you have an aging infrastructure, like buildings that do not have enough insulation, and use old technologies, they will use more energy. Older buildings also use more energy. For example, pre-1980 office buildings in the United States use 10% to 15% more energy on average than post-1980 establishments (Arnold 1). It will be very important for engineers to be as efficient as possible because most of the buildings and their mechanical systems will be in use for many years to come until approximately 2050. It is estimated that at least 60% to 75% of the buildings today will still be in use in 2050. Therefore, “it is important, to focus on reducing energy use in existing buildings in order to cut CO₂ emissions and achieve sustainability, rather than concentrating on building new ones” (Arnold 1). Many buildings still in use today were built in the 1950s, and they use their original air-conditioning systems designed for a time when people were not worried about energy use. The Hancock building in Chicago first opened its doors in 1974; it used 1.1 million dollars of electricity in that year. By 1985, this bill had almost tripled and it was more than $3 million. This gives an idea of what it costs to power a large building. Energy conservation is “not only good for the environment, but it is also good for the economy” (Dorji, Panjaburee, and Srisawasdi 91). Therefore, the goal of reducing energy in buildings by a certain percentage is being set across America. The key to energy sustainability in existing major buildings is ensuring they can be retrofitted and energy-managed successfully. It is also important to note that around 75% of buildings that will be in existence by the year 2050 are already here today. Consequently, “unless the goal of reducing energy consumption in the existing buildings is achieved, countries will not be able to meet national commitments for reductions of emissions” (Arnold 2). In the case of the United States, the target is a reduction of 83% below 2005 levels by 2050. Some of the methods that are being used to reduce energy use today include the installation of double-glass coverings on most of the walls and using the space between them as a climate-modifying space. This means that installing a second glass wall behind the outer window wall with programmable mechanical blinds between the panes. Other energy saving measures include daylight saving lighting controls, variable speed drives, single pass outdoor air supplies and integrated chilled beams. Most of these energy-saving measures are incorporated into the lighting and other fixture, instead of the original energy inefficient dual duct systems (Arnold 2). Unfortunately, there are no good energy alternatives that can make a big impact on energy consumption. To reduce the impact of too much energy consumption, companies and other large organizations are trying to reduce the amount of energy used on a regular basis through changes in their employees’ behavior. “Whereas one energy-efficiency approach includes technical improvements, such as increased heat insulation or replacing ventilation with volume flows, technical engineers are realizing that the behavior of people who work in organizations also contributes to energy consumptions” (Klonek and Kaufield 2). Relying on companies to change engineering designs or the materials used represents only a small aspect of how energy conservation can be tackled. People use too much energy and people can easily reduce how much energy they use by changing their energy-use habits. Even as Scientists and engineers are trying to find new ways to produce energy and new ways to reduce how much resources we use, most people worry about the consequences of resource use because of climate change and damage to the environment. However, “Habits and self interest as well as the inconvenience and cost of the new behavior and the unavailability of alternatives are examples of common barriers that must be overcome before individuals will change their behavior” (Babcock 951). If people understood how important it is to conserve energy, maybe there would be a better chance of changing it. Nevertheless, research has shown that even getting people to use more energy efficient light bulbs has been a problem. Hope Babcock has spent a lot of time working to get people to use energy efficient lighting. She has worked toward getting people to change their personal behavior, and she has explored how to motivate people to become more responsible consumers of electricity and follow energy conservation habits. The main thing to be done was to change to using compact fluorescent lights (CFLs) instead of traditional ones. “Up to ninety percent of energy produced by the traditional bulbs is lost as heat, but switching to CFLs is one way to prevent this energy loss” (Babcock 945). However, “getting individuals to switch bulbs is not as easy as one might think because of various barriers that stand in the way of changing environmental behavior. Obviously, it is not easy to get people to change bad habits. Therefore, there is a need to come up with better energy conservation methods for the future. Many educators and the science community are working together to create educational programs for young people to teach them better habits at an early age. Educating students about electric energy consumption and conservation has been become an urgent issue. Therefore, to try to increase awareness, an educational computer game was created. When the students played the game, it promoted to them that they only use electrical appliances for short amounts of time. The “results showed that the students’ learning achievement on energy consumption as well as their awareness on electric energy conservation improved in a significant way” (Dorji 91). Several “Studies have pointed out that the educational computer games could engage the students in meaningful and motivational learning. But on other hand, without incorporating educational theory or applying teaching and learning strategies, the educational computer games might not be significant for a meaningful learning” (Dorji 92). As awareness of the economic costs and environmental problems being caused by energy consumption increases, public schools have become more involved in promoting conservation education. Schools are a perfect place for teaching conservation habit, and they can reduce their energy use by 20–30% just with changes in student habits. In addition, in 2008, public school spent $8 billion just on energy costs. A 20-30% decrease in this is worth a lot in terms of monetary resources. I am sure that the money could be better used in a better way for children’s education (Schelley 141). Schelley et al also showed how an educational program was successful in helping students change habits. The program says the authors helped with sustainability education and the adoption of sustainable behavior. Public schools are a great place to help children learn by having role models. School facilities, school governance, and school culture all together support conservation and environmental practices. In addition, these entities can create an organizational culture that values conservation. “Public schools are an ideal location for energy conservation measures; schools can reduce their energy use by 20–30% with a variety of behavioral and operational strategies” (Schelley 144). However, energy conservation requires a lot of effort although its results are worthwhile. “Embracing sustainable behaviors in the daily activities of a school requires the support of an organizational culture” (Dorji 92). Organizational culture “includes the shared values, norms, and practices in an organization” (Schelley 145). Schelley claims that the more people know the more attention they pay to making changes. “Public awareness of the economic costs and environmental impacts of energy consumption, specifically the impact of carbon emissions on global climate change, has stimulated individuals and organizations to consider strategies for reducing energy consumption” (Schelley 144). Not only are schools promoting education for energy conservation, changing the habits of students helps with the school’s own energy savings. Some of the programs that were developed include the school-incorporated promotions for energy saving. The research study involving school-incorporated promotions for energy saving showed that the program had the capacity to achieve significant results. For example, the school district encouraged student groups to create an energy conservation program. The “students developed a “Thanks a Watt” campaign where the students put signs above light switches reminding teachers, students, and staff to turn off the lights when they leave the room” (Schelley 144). Another idea the students developed was to paint trashcans with bright images and colors, but the recycling bins all look the same. So, students became more conscious of recycling (Schelley 152). Charlotte NC had a contest for elementary schools to see who could design the best energy conservation posters. Schools are a great place to teach young people better energy habits because they spend a lot of time there, and the habits can be observed by the children when adults practice them. “Sustainability education involves several key principles, including the important role of modeling” (Schelley 144). According to research on teaching sustainability education, there are four identified sources of modeling that significantly shape student perceptions and behavior—individual role models, facilities and operations, governance, and school culture” (Schelley 146). In my opinion, schools should be working toward meeting these four goals. There are many things that ordinary people can do in their daily routines to help conserve energy. For example, that if people take showers instead of baths, this would save water. In addition, washing clothes in cold water saves a great amount of water in the long run. These simple practices are often taken for granted but they can save a lot of energy in the end. Other energy-saving practices that are often overlooked include, not using the cardboard sleeve on coffee drinks, using bars of soap instead of detergent in plastic bottles, and shutting off all appliances including computers when they are not in use. It is also prudent to turn off lights when one is not using them. Buying non-biodegradable items such as Styrofoam cups is also contributing to environmental hazards. In addition, it is important to try to avoid using disposable items like paper towels because this has a negative effect on the environment. Instead, it is advisable to use cleaning towels that can be washed and reused. If people reduced their house heat by a few degrees, this would have a big impact. It also helps to buy products that have less packaging, which use fewer resources and so less energy. It is better to use a microwave to reheat food rather than the stove. Recycle whenever possible because this habit is one of the most significant conservational practices. All the above tips and pointers could have a significant effect on the conservation of energy. It is also important to note that the efforts towards achieving energy conservation mostly rely on the individual as opposed to concerted efforts by the government and other combined forces. For example, it is likely for individuals to ignore conservational-relevant practices because they appear insignificant to the end result. However, research has indicated that the current energy conservational efforts began with seemingly insignificant actions by individuals. Consequently, it is seemingly insignificant individual actions such as foregoing Styrofoam and paper towels that have the biggest chance of reversing the effects of environmental degradation and the subsequent climatic changes. By just changing towards a few of these practices, individuals can make a big difference in the conservation efforts. For example, “If every one of the 110 million households in the United States replaced a conventional sixty-watt incandescent bulb with one CFL, the energy saved by that small action would be enough to power a city of 1.5 million people” (947). Research is being done to help people use less energy in their homes. Adedokun and Oladosu describe a new remote control that can help people safely turn their appliances on and off whenever it is necessary. This research is informed by the fact that most people are either ignorant or not well versed with good electrical appliance and switch etiquette. For example, many people forget to turn off their appliances, and most do not realize how much energy something like a computer screen being left on can use. But a Global System for Mobile devices based remote control system has been developed to control and monitor electrical devices using mobile phones. A text message is used to turn off an appliance. The authors provide good information about the technical aspects of the device and how much energy is used by electrical appliances. This would be good for my paper because it is about the need for homeowners to pay more attention to how they use energy, and it is offering a convenient and easy solution. Currently, it is not clear how much each American household appliance uses in terms of electricity because this has never been a major issue in the efforts towards energy conservation. On the other hand, homeowners are only provided with an overall number of their total electrical consumption. However, the responsibility of determining which products consume most of the power is left upon electricity consumers. It is important to note that electricity consumers are often ill equipped and they have no way of determining the average electrical consumption of each household appliance. In future, the codes that are used to determine the actual rates of energy consumption should be simplified in order to make them understandable to ordinary users. Currently, only a trained electrician has the capacity to determine the total energy consumption of any electrical appliance. Climate change has presented the world with an actual crisis that has proved to be a threat to the social fabric of the United States. However, if people really want to make a difference there are many things they can do. Nevertheless, the solutions to the problem of energy consumption and conservation require individuals to alter their habits and lifestyles. Most people do not want the inconveniences that are associated with energy conservation. Consequently, even though governments and other institutions have made considerable changes to their processes, individuals are still reluctant to take action. I am wondering if people really knew how these small changes mattered a lot if they would still be so careless. Although most people do not think that their actions have much of an impact, if everyone changed just a few things, energy conservation would be improved. It is no longer viable to wait for governments to solve the problem of energy conservation when as individuals we have all the tools that can change this situation. The problems of energy conservation are mostly caused by individuals, so it will take these same people to change their habits in order to solve this global problem. Works Cited Adedokun, G., And J. A. Oladosu. “Development Of A Gsm-Based Remote Control System For Home Electrical Appliances.” Acta Technica Corvininesis – Bulletin Of Engineering 8.1 (2015): 77-80. Academic Search Complete. Arnold, David. “Reducing Energy Use In Older Large Buildings.” ASHRAE Journal 57.1 (2015): 52-59. Academic Search Complete. Babcock, Helen. “Responsible Environmental Behavior, Energy Conservation, and Compact Fluorescent Bulbs: You Can Lead a Horse to Water, But Can You Make It Drink?” Georgetown University Law Center. 2009. Biello, David. “10 Solutions for Climate Change.” Scientific American. Dorji, Ugyen, Patcharin Panjaburee, And Niwat Srisawasdi. “A Learning Cycle Approach To Developing Educational Computer Game For Improving Students’ Learning And Awareness In Electric Energy Consumption And Conservation.” Journal Of Educational TechnologyEnergy Conservation for Solving Climate Change Problem Essay
Table of Contents Introduction Summary Critique Recommendation Works Cited Introduction This book was written by Patrick Combs who also doubles up as an inspirational speaker. This book has been written for students aspiring to join college or those who are already in college. Grounded in current research in business economics and coupled with appropriate insights from the corporate world, the book is suitable for every college student regardless of age. Summary The first chapter of this book is “On the Road to Success”. It basically outlines the vitality in students identifying the type of career they would like to undertake in future. The author points out that it is wise for one to choose the career which will offer the greatest happiness and satisfaction. In the second chapter i.e. “Truly Passionate”, it has been emphasized that for one to be successful in ones choice of career, he/she must possess extra ordinary drive and passion. This passion will eventually propel one to exert the necessary effort towards the achievement of the set goals. The following chapter; “ Major Excitement” is an elaboration of the previous one. It points out that the passion that generates from achieving success in ones endeavors acts as a morale booster resulting in even greater success. Students are advised to refrain from choosing a carreer on the basis of such things as prestige and renumeration, instead one should go for what really interests and inspires one. Thus , it is also paramount that a student recognizes his/her weaknesses and strengths in the particular subjects required by his/her career of choice. This is in order to enable the student to know the type of career that one is most suited for in accordance with his/her strengthes as far as relevant subjects are concerned. Get your 100% original paper on any topic done in as little as 3 hours Learn More The following chapter which is “Money Matters” offers great advice to students on sound money management practices. It emphasizes that it is important to learn how to manage ones finances prudently regardless of the amounts in question. In the sixth chapter; “Your Ultimate Life”, the book observes that a student’s stint in college is a time that one should explore as many interests as one can. Most of all, one should strive to graduate with an enthusiasm for learning. It inferes that one can increase his/her enthusiasm by exploring ones interests. This has been further expounded on in the following chapter; “The Six Big Fears”. Combs observes that such fears for instance the fear of failure and reactions from peers and family members can decrease ones spirit for learning. In other words, one has to come up with ways of confronting his/her fears and opt to follow ones heart’s desires with less focus on what opinions others might have on a particular subject. He further insinuates that one would be better off exploring his/her own interests in the library than sleeping through a class that is boring (Combs, 2000). In the ninth chapter, the author highlights the importance of co-curricular activities to the students. He concurs that while it is prudent to work hard in academics, it is equally vital for one to take part in sports and such other activities. Such activities help one to wind up and release accumulated tensions. Such activities also help one to develop other essential skills such as ledership, team work and interpersonal skills. In the next chapter “Never Mind the Grades’, the book observes that a student should desist from laying too much emphasize on grades since success is a component of various aspects grades being just a fraction of it. It is pointed out that students can still achieve their goal regardless of poor grades in the majors, a lackluster GPA, and past shortcomings. We will write a custom Essay on Major in Success: Make College Easier, Fire up Your Dreams, and Get a Great Job specifically for you! Get your first paper with 15% OFF Learn More The author shows further insightfulness in the later stages of the book. For instance, in the fifteenth chapter; “Life Changing Reality Checks”, the author advises student to take the opportunity of learning from the numerous lessons that life is bound to throw at people during their course of life. The following chapter i.e. Really Get into It”, the book cautions the students on the need to get desicive and immerse themselves in all the activities that have been tailored to help them achieve their goals. The author cautions against procastination since it is not only time wasting but it can also cause a decrease in motivation. The sixteenth chapter i.e. Show and Tell, the book emphasizes the need for students to talk about their areas of interests as this is a great source of motivation and confidence. Also by doing so, one stands to be corrected and assisted which are all the more beneficial. The eighteenth chapter is Going Professional. It is basically an outline of some prerequisite steps and skills that aspiring college students should have in possession in order to attract employment. He emphasizes on the need to acquire interpersonal, communicational and technical skills that are relevant to ones career. This is clearly illuminated by the following excerpt from the book, “No matter what you major in, if you can’t answer the phone, make a presentation, do a spreadsheet, or write a business letter, nobody needs you”. The author has expressly highlighted some resourceful ideas that a student can use so as to jump start an exciting career. For instance he has emphasized on the need to have a presentable resume, sound networking, strong interview skills, plausible references etc. Critique There is no doubt that Patrick Combs’ major in success is not only an enlightening but also an inspiring book. However, some people have had some reservations with some areas in this book. Personally I feel that the book leans more towards wishful thinking than truth and reality. Not sure if you can write a paper on Major in Success: Make College Easier, Fire up Your Dreams, and Get a Great Job by yourself? We can help you for only $16.05 $11/page Learn More This is because the author fails to acknowledge the fact that people are living in an ever changing world where new and emerging demands are being placed in all spheres of live. Furthermore, he has failed to explain how a student ought to adapt to these changes once he/she embarks on a specific career. He has also failed to describe his own success, the author’s facts are not grounded in quantifiable facts and statistics, he has downplayed the importance of grades in the job market by making an assumption that “College is for developing your talents to learn and do so that you can learn and do anything you like (Combs, 2000) and he also asserts that one should not panic if ones extracurricular activities have a negative effect on ones grades. Recommendation Nonetheless, major in success is a great book which offers prospective college students a wide range of lessons and advice. I have to say that, in the end, I would recommend this book to any student wanting to identify his/her areas of interest in view of laying a strong foundation towards achieving a satisfying career. Works Cited Combs, Patrick. Major in success: Make College Easier, Fire Up Your Dreams, and Get a Great Job. Francisco: Ten Speed Press, 2000.

ACC 380 AU Week 5 NACUBO Organization & Professional Engagements Discussions

ACC 380 AU Week 5 NACUBO Organization & Professional Engagements Discussions.

I’m working on a accounting discussion question and need an explanation to help me study.

Part 1 
review the NACUBO (Links to an external site.) website.
Research the NACUBO organization. Describe in your own words the reason this organization exists, what impact it has on college and university financial reporting, and the authority it has over standard setting for financial reporting for colleges and universities. 300 words 
Part 2 
Describe which organizations have authority over government and not-for-profit auditing standards. There are four categories of professional engagements: financial audits, attestation engagements, performance audits, and non-audit services. Explain in your own words what each of these audit types involves, and give an example of each to illustrate.

ACC 380 AU Week 5 NACUBO Organization & Professional Engagements Discussions

Concept of social entrepreneurship

help me with my homework “Understanding the concept of social entrepreneurship will be of value in whichever career path I choose” As the concept of entrepreneurship becoming important sources in economic fields, many existing businesses have been trying to implement that concept onto their own running business. It is not simple to define or decided ‘entrepreneurship’ as only one set word or concept, because it has wide range of meaning and is the method that contains complex mixture of fundamental economic principle. In addition to that, when the concept is applied in certain industry it could be developed in many different ways depending upon which industries are targeted. Finally, the misunderstanding of implementing that entrepreneurship concept may lead the outcome that entrepreneur planed it in the process to unexpected situation, could be negative or coincidently positive for them. The concept of entrepreneurship has been studied for many years and it was illustrated by the classic theory of development worked by author named Benjamin Higgins; By entrepreneurship is meant the function of seeing investment and production opportunities: organizing an enterprise to undertake a new production process; raising capital, hiring labor, arranging for a supply of raw materials, finding a site, and combining these factors of production into a going concern; introducing new techniques and commodities, discovering new sources of natural resources; and selecting top managers for day-to-day operation (1997 ,228p) In putting another word simply, entrepreneurship basically means to start companies and organizations based on the findings of the entrepreneur of certain niches in the marketplace, and willing to assume the risks of a business to take significant opportunities for success. Moreover, entrepreneurs also create their own niches for the products or services they want the company to produce. (Hodgetts R.M, 2004) It is not surprised anymore hearing the term of entrepreneurship in the success stories in the real many different type of business industry. That is, it is just part of example that how entrepreneurship is important concept should be concerned to success, besides it is required to understanding the true concept of this topic. Entrepreneurship could be classified by under 5 categories in order to clarify that how actual processes which the entrepreneurship contains is working in the certain business; Entrepreneur traits, creativity, innovation, business planning and growth management. These elements can be representing the segments of characteristic of entrepreneur. In Entrepreneurial creativity part, it is required to have different view of perception and thinking of something and a paradigm shift in order to create new ideas. There 4 critical processes to get the concept of innovation can be classified as invention, extension, duplication and synthesis. Strategic planning is the key sources that to access the entrepreneur’s position through internal/external factors then identify these factors to implement a strategy. Finally, in the management, it is required that identify what size of company will be through, the capability of which how direct control the company is afforded and how entrepreneurial spirit can be retained in a growing business.( Bailey, J. 2003) Once entrepreneur concept is cleared, to move on to a ‘Social entrepreneur’ is next step. What is a social entrepreneur? They act similar to entrepreneur does, such as facing risks, inspiration and creativity, in order to take hidden or uncovered significant opportunities. What the social entrepreneur seeks for value in the certain market is the changeable factors that would result positive effect on disadvantaged communities, ultimately, society at large. (Martin.R,2009) It will be given some particular examples about how entrepreneur have been successfully in implementing the concept of entrepreneurship into real-world business industry. That would be able to help clear understanding then, furthermore developing the ideas of fundamental business principle. There is the national food business named Food Connect, aim is to supply local, sustainably produced food tothe community in South East Queensland. They are creating a new, more equitableway of distributing local produce in a socially responsible way. The seasonal produce comes from local farmers livingwithin a five hour radius of Brisbane who are paid afair price for their hard work andwho are encouraged to farm using the most sustainable methods possible.Our subscribers know where their food comes from and are invited to see for themselves on regular farm tours. Moreover, there are as an entrepreneurial way of which they run the business practices are markedly different from thosein other corporateorganizations: Our staff presents educational talks and seminars to the general public about food issues. Weorganize regular farm tours and other eventsfor our subscribers. Individuals cannot profit from Food Connect, except in terms of earning a fair wage for fair work. We provide, when feasible, opportunities for people with disabilities to participate in the daily life of the Homestead (our headquarters). Staffs have a major say in the running of Food Connect, particularly at our staff review days which are held every three months. We are environmentally aware in the Homestead, recycling everything possible. We even have our own worm farm for food scraps. (Food Connect,2008,story of food connect) As it describe at above, the Food Connect company has faced some niches as in terms of entrepreneur point of view that the other competitors does not challenge it due to failure of changes, which briefly are; creating the new way of satisfying the local distribution channels and to guarantee providing the best quality products with reasonable price for everyone, not only customer but also employee. As the results, the company could have had strong faith from consumers due to finding out risky factors to run the business according to their created entrepreneurial processes and they made huge changes after implementing it into real business. Muhammad Yunus, he is the one that begin offering microloans model to the indigent Bangladesh in 1976. How the microloans work was that loaned money to the people was small adequate amount of money that they were able to take out the loan. As the result, he could have helped the people to become self-employed. According to this case, it can be recognized that entrepreneur also can take the role of a leader, not only government, which to make a social change or movement that supporting opportunities and benefit to the people in certain categories. The achievement that he has contributed to the society is not only for gaining profit himself but also involving more people having the beneficial opportunities. Another example can be found out in India. Social entrepreneur Bunker Roy who built the Barefoot College in India to educate uneducated people such as illiterate and semiliterate, whose lose the opportunity of education due to social situations. There are many successful achievements the college has develop and improve the level of Indian society, for instances, teachers, workers and architects have installed and maintain solar-electrification systems that about 100,000 people in over 500 villages could have received the benefits by the college. The last example will be Ann Cotton, who made a effort of the right for female education(Campaign for Female Education : Camfed) in Africa. The launched programs by Camfed, which is providing opportunities of having education for whose cannot afford to pay school fee or join a school throughout awarding a scholarship, could have supported many numbers of young girls, approximate 700,000 students, in Zimbabwe, Ghana, Zambia and Tanzania in the educational sector. Some of graduated students returned to this community as leaders and over 5,000 started their own business. In terms of business point of view, it can be seen entrepreneurs as only a pragmatist because they are the people who born to seek for success and benefits in the business. However, that is just general ultimate purpose of entrepreneurs. The points according to examples are the process how and ways they achieve to drive the business successful. A common denominator of among entrepreneurs in these examples is that they are not afraid of facing current and potential risks to make changes. In addition, the social entrepreneurs have emphasis on the processes of creating a new idea throughout inspiration, creativity, courage in order to reach the final goal that ensure that everyone have social benefits and opportunities, called a new equilibrium.(Social Enterpreneur,2009)

Enterprise Corporation’s Salary Negotiations Essay

Reflecting about negotiation processes The negotiation party involved five agents representing the interest of the five employees of Enterprise Corporation as the Salary Committee. I represented the interests of Max Eberly, who is the only design engineer for the company and has two years of work experience. The negotiation team had a difference in allocation of increment to the five employees because of differences in salary scale and number of experiences within the company. There need to negotiate for a fair settlement for the five employees, since each had a critical role within the Enterprise Corporation. To settle for an amicable allocation, we, as members of the salary committee negotiated by allowing each agent to present his or her case for why the employee being represented should have a salary increment. Each negotiator was given two minutes to present his or her case. The negotiators then highlighted years of experience and responsibility at the company as the primary factors that will influence the amount of salary increment to be added to each employee. This decision was arrived at following a unanimous agreement that more experienced employees should get higher salary increments as a reward for loyalty and steadfast commitment to company production culture. However, there was disagreement on the scale to use in allocating increment based on responsibility in the company. Specifically, as the negotiator for Max Eberly, I present my worries to the committee that should we allocate salary increments to this employee that is below the current offer by a rival company, we will lose the talented engineer. After the pro and anti arguments on job responsibility salary allocation formula, the committee agreed that for the sake of equality and designing a uniform increment basis at present, all the five employees will be awarded a similar increment of $2,100 on top of the same increment as attached in appendix 1. Conflicting interests almost hindered the settlement process. Understanding some core aspects of negotiation From the arguments of the salary committee members, I learned that a strategic negotiation process is completed through compromise and flexibility since I had to settle for an equal salary increment for Max Eberly, despite the fears him leaving the company. The eventual settlement challenged my previous knowledge of negotiation as a free-flowing process. Similar to the negotiation process I carried out alongside Khalid, I had to compromise after listening to the arguments of the other four negotiators. I am convinced that the negotiation unfolded the way it did because each agent was determined to get the best deal for their clients. If I was to be involved in a similar negotiation, I will become more proactive and persuasive to get a better deal since these principles put a negotiator in a strategic settlement position. The use of video-conferencing media was better than the text-based media because each party had time to study the body language and instant feedback from each negotiator. However, the multiple-user video-conferencing was more challenging than a duo-video conferencing since I had to put up with multiple interruptions. As technological process advice when using video-conferencing for negotiation with multiple participants, there is a need to observe self-discipline among the participants, in terms of observing allocated time and staying within the negotiation premises. In terms of technology, there is a need to expand the video-conferencing interface to ensure that multiple users appear on the screen at once. Appendix 1 Settlement Sheet

Financial Insight Into Ferrari World Theme Park

The grand theme park, Ferrari World is an immediate tourist attraction of Abu Dhabi. This is the first of its kind measure from the iconic world renowned carmaker Ferrari. Abu Dhabi attempts to lure millions of vacationers from across the globe, a year after hosting its first ever Formula One racing championship. The humongous efforts taken to build this spectacle of for all the speed loving multitudes can be gauged by the fact that its world’s largest indoor theme park in existence to date. Ferrari world stands next to the another marvel Yan Marina circuit, which credits itself with holding the inaugural Grand Prix of Abu Dhabi in November 2009. Cost of building the Ferrari World Ferrari world was opened for public use on 4th November, 2010. The fantastic Ferrari world is put up under a huge triangular red roof build on the 40 billion Yan Marina Island Development properties. The Ferrari world is expected to draw large multitudes, especially from the neighbouring countries which have a population which is interested in racing. (The theme park, 2010) Finanical sources Ferrari world is being seen as an interest stimulator among the tourists around the globe and is viewed as an ultimate destination for people passionate about racing. This could promote the tourisms in Abu Dhabi. As said by Grant Salter, the general manager of Grant Thornton, “Ferrari World is a good thing for Abu Dhabi’s tourism offering in because as there is not much at all”. A year later from conducting its first formula one racing, this can be seen as another attempt to increase tourism in Abu Dhabi. These endeavours can viewed as attempt to attract the speed loving masses that are passionate about racing from round the globe, especially those from neighbouring nations. About 10,000 people were expected to descend down what Ferrari says as the only officially declared theme park of the region. Ferrari world at any given day can accommodate an estimate of 20,000 people, stating on the basis of the availability of the space in the theme park as mentioned by Claus Frimand, the Ferrari World’s General Manager. But such great number is not expected to be seen on the normal day to day basis, except may be on summer holidays and festivals seasons like Eid, etc. hence we can see that government and the tourism is expected to experience an increase in profitability and economic improvements. Although it may be speculated that considering the recession period hitting world economy, it might not be a good time to start the theme park. But administration of Ferrari is confident in its success saying its beneficial time for opening of theme park as world economy is recovering. (Ghale Group, 2010) Investors Towards the end of the year 2005, Ferrari and Aldar Properties were reported to have signed an agreement in order to build the first official Ferrari theme park in Middle East, situated at Abu Dhabi. According to initial planning and designing of Ferrari theme park was suppose to open on 28th October, 2008, but due to unavoidable circumstances and delays, it finally opened on 4th November,2010 . Its construction work started in November 2008 and its construction was completed in time duration of less than two years. In the middle of the year 2010, announcement was made that Ferrari World would be made open to public on October 28, 2010. The opening of Ferrari world was further delayed by a week due to the demise of Ras al-Khaimah a day prior to the opening. Ferrari World, the world’s biggest theme park, was officially made open to the public on 4th of November, 2010. Ferrari world greatly encourages the improvement of tourism and economic for Emirates, hence it had support from the Government. It also leads to flourishing several other industries and provides more employment to the people. These industries include hotels and hotel management, retails, restaurants, transports, etc. Hence it can be seen that Ferrari world was a welcomed venture by all. (Arabian business, 2010) Use of public Money Ferrari World theme park is a venture between Ferrari and Aldar Properties which causes beneficiary results to Government and people of Emirates. Yet it is a project between Ferrari and Alder properties. The Ferrari World, being branded by iconic carmaker, is a 200,000 square metre magnet for tourists across the globe. As of date it stands as the largest theme park of the world and it contains about twenty rides, which includes the world’s fastest roller-coasters, the first duelling roller coaster of the region and a sensational 4-D sensational phenomenon called ‘Speed of Magic’. These all point towards the unique experience this place provides resulting in mutual benefits for all those who are involved with it. (Mankiw, 2006) Impact of Global Financial/Economic Crisis on the construction of Ferrari World Owing to the bad time, the world economy faced and is still making its way through it; construction of such a huge theme park was being speculated. Recognizing the fact that some global established theme parks suffered lose and had hard times due to world financial crisis, Claus Frimand made a statement saying that he was positive about the fact that the Ferrari World is being opened at a beneficial times as the world economy is now slowly recovering. (Mankiw, 2006) Government incentives and its cost to economy Abu Dhabi has a population of about 1 million people and 8 percent of the world’s oil reserves making it one of the largest wealth funds. Still it is putting money into the field of developing the Ferrari theme park so as to develop tourist attractions and manufacturing so as to break away from its sole dependence on crude oil exports for earning. Hence, Ferrari World is one of many spots of tourism attractions lined up by Abu Dhabi, so as to entice tourists with entertainment, culture and art. (Arabian business, 2010) It is being estimated that by year 2015, Abu Dhabi’s non-oil businesses will be contributing up to 50 percent in its gross domestic product giving an additional about $167 billion a year, as projected in its 2030 plan. It involves spending $500 billion on infrastructure and development. It is the capital and largest member of the United Arab Emirates. It is aiming to build as many as 60 new hotels by 2015 and targeting tourist strength of around 3 million tourists a year. Considering this attempt and aim, Abu Dhabi Airports Co. opened the 1 billion-dirham ($272 million) Terminal 3 last year, in order to boost the airport’s capacity to accommodate more than 12 million passengers a year. (Arabian business, 2010) Impact on employment and GDP Ferrari World theme park is expected to boost real estate prices for the region in Abu Dhabi’s Yas Island, by an estimated amount of 25 percent, as told to Arabian Business by the real estate agents and land and property analysts. (Arabian business, 2010) According to Loshini Lawrence, manager of operations in the real estate agency known as the Better Homes in Abu Dhabi, Ferrari World would be certainly having an on impact on the Abu Dhabi’s real estate and property market in that the region surrounding Yas Island including places like Al Raha Beach and many others will appeal more to visitors enable these new communities for gaining greater attention, as told to Arabian Business. According to him, property and value of land in these neighbourhood locations will definitely appreciate in time, especially after the communities are fully-developed. He believes that, the impact on the properties’ prices closer to the Ferrari World theme park could be anywhere, ranging from 20 to 25 percent more than similar properties but lacking these services. (Mankiw, 2006) However, Jesse Downs, the director at Landmark Advisory, was a bit conservative concerning the short-term impact the park can have but firmly affirms that the unique attraction would have beneficial charm in the average to long term. Based on their analysis, the establishment of Ferrari World might not have expected short term affect on selling prices and lease bulks and sales masses or leases. If development plans go forward as expected, they expect to see benefits and earnings in the long to medium term. (Ghale Group, 2010) Dr Cedwyn Fernandes, an Associate Professor at Middlesex University Dubai, told Gulf news that, Ferrari World would enjoy a large number of visitors in the time to come, considering the fact that Ferrari is a globally recognized iconic brand worldwide. He added that due to this, there would be tourists throughout the year and not during racing events or for entertainment shows, hence, flourishing the hotels and other connected businesses in the region. Hence we can see that there is a definite profit for the Government leading to an increase in GDP. (Mankiw, 2006) Source of material used for construction Ferrari world is built under a huge triangle red roof on the 40-billion-dollar land belonging to Yas Island development. According to Claus Frimand, it can be viewed as an indoor matter with an outdoor experience. Visitors will not even realize that they inside a building as the roof top is as high as between 35 to 50 metres (115 and 165 feet) above them and it also doesn’t have support structures. Centre of the building has an area with daylight, coming out of a big funnel; visitors can feel the G force tower. (Ghale Group, 2010) It covers an area over 86,000 square metres (925,696 square feet).The red roof displaying the world’s largest logo of Ferrari with its prancing horse spreads over two hundred thousand square meters. It has about 20 attractions. These include two roller coasters based on the F1-themed Formula Rossa which is about to become the fastest ever of its kind, with a high speed of 240 kilometers / hour. The second set of the roller coasters are stretching beyond the its perimeter, featuring two tracks consisting of two Ferrari-shaped trains, side by side to each other, taking into account the weight of the passenger, either of them will cross the finish line first. The whole experience provides the G-force which the drivers feel during the race. Another ride is made like a Ferrari California Spyder convertible which takes the guests through Bell’Italia which can be seen as a replica of the Italian countryside consisting of model villages and other tourism highlights. Elsewhere a huge reproduction of the Maranello factory displays the entire manufacturing sequence starting from the design stage and going up to the finished product. Motoring enthusiasts can experience the thrill in a Ferrari V12 engine in one of the rides. Jack Rouse Associates, made most of the park’s 20 rides. He is a Cincinnati based design firm. All the opening day events and attraction were made on July 20, 2010 by Ferrari World. The map of the material is as shown below: Present senario: Number of people visiting the park, ticket price and taxes About 10,000 people were expected to descend down what Ferrari says as the only officially declared theme park of the region. Ferrari world at any given day can accommodate an estimate of 20,000 people, stating on the basis of the availability of the space in the theme park as mentioned by Claus Frimand. According to Dr.Cedwyn Fernades, the number of visitors of Ferrari is expected to peak up to 3.6 millions in a year. (The theme park, 2010) Tickets can be purchased online or at the park. Ticket prices are basis of height. General Admission Tickets: For guests who are taller than 1.5m. General Admission Junior Tickets: For guests who are under 1.5m. General Admission: The ticket is valid for guests who are 1.5m and over. AED 225 General Admission Junior: The ticket is valid for guests who are less than 1.4m and for AED 165 Premium Admission: Additional access to the exclusive VIP Lounge. The one is for guests who are 1.5m and over .AED 375 Premium Admission Junior: Additional access to the exclusive VIP Lounge. The ticket is valid for guests who are less than 1.5m. AED 270 Abu Dhabi is venturing into the field of tourism so that the revenues obtained can be an additional earning and crude oil exports are not the only source of income. Impact on tourism It is being estimated that by year 2015, Abu Dhabi’s non-oil businesses will be contributing up to 50 percent in its gross domestic product giving an additional about $167 billion a year, as projected in its 2030 plan. It involves spending $500 billion on infrastructure and development. (Ghale Group, 2010) Ferrari World theme park is expected to boost real estate prices for the region in Abu Dhabi’s Yas Island, by an estimated amount of 25 percent. Ferrari World would be certainly having an on impact on the Abu Dhabi’s real estate and property market in that the region surrounding Yas Island including places like Al Raha Beach and many others will appeal more to visitors enable these new communities for gaining greater attention. Tourism and other industries It leads to flourishing several other industries and provides more employment to the people. These industries include hotels and hotel management, retails, restaurants, transports, etc. It is also expected to boost the real estate business. Construction and maintaining Ferrari world would be providing a lot of employment to people. (Mankiw, 2006) A growth in tourism has lead to increase in profit for motels already in existence in the region. As a result hotels are benefitting from higher occupancy all year round. New hotel entrants are being with larger capacities and facilities. As the guests to Ferrari World are estimated to reach up to 3.6 million a year, an estimate of 500,000 more room demands is being speculated. Effect on Environment As such nothing is being said regarding any severe environmental damage being caused by the Ferrari world. So far we can assume that no heavy environmental cost is being suffered due to the Ferrari World. Porter’s Diamond theory The porter’s diamond model is as shown below. The below is a discussion on Ferrari world based on the model provided. Factor Condition: factor condition comprise of availability of human resource, capital and infrastructure. As mentioned in the report, the government is the key source of finance for the project. The country has huge labor force available and thus there are no concerns related to HR availability for the project. Demand Condition: Entertainment is always an essential element in the society and with the pace UAE is emerging as a tourist destination, the demand of the product is quite high. Related and supporting industries: As mentioned in previous heading that UAE is emerging as a new tourist hub in the world. The tourist industry is booming handsomely. Other projects like palm islands, Burj Dubai will attract customers for Ferrari world too. Firm’s strategy, structure and rivalry: The company/project understands the needs of the tourist related to entertainment and thus is based on a high tech amusement park. The firm is first of its kind, tough there would be competition from many entertainment projects in Dubai like skiing place and similar. Government: Government’s support is completely there for the project as government is the key investor in the project. Chance: With the growth of tourist industry in UAE and need to entertainment, the project is very likely to get successful. Conclusion: From the above discussion, it is clear that construction of this project has cost the government a great amount. The huge sum of money involved in the construction of the project contributed in the stagnant liquidity in the country at time of recession. The probable advantages brought are high growth in tourism industry which also facilitated the growth of other sectors of the industry. The project will also contribute handsomely in GDP of the country. Linkage of the report with chapters in book: The book by N. Gregory Mankiw teaches few very basics of economics. The concerned chapter’s talks about unemployment and nation’s GDP. Throughout the report we considered the sources of finance for the project, the revenue from various aspects of the project and the probable contribution in the GDP. These all are closely associated with the learning from the book. The report also mentioned the probable advantages that Ferrari World Park will bring like entertainment in life and related stuff which is associated with quality of life and GDP related discussion from the book. The heading concerning sources of finance is related to book’s monetary system chapters. In those chapters we studied that various sources of finance, interest rate mechanism and related topic. In the report, the investors in the project, their contribution, money employed, role of government etc is clearly stated which again brings the report close to the book. In the end, the use of Porter’s Diamond theory also covers many economical principles covered in book.

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