Friday, March 13, 2020

Tourism Industry of Malaysia Essay Example

Tourism Industry of Malaysia Essay Example Tourism Industry of Malaysia Essay Tourism Industry of Malaysia Essay Tourism Industry of Malaysia (Background) The early 70s spelt the beginning of a `new era`. The old Tourism Department of 1959 was then upgraded into the Tourism Development Corporation. The formation of the Tourism Development Corporation (TDC) in 1972 and placing it under the purview of the Ministry of Trade and Industry (MITI) for strategic planning and focus charted a new era in the history of the tourism industry. That was the same year Malaysia Airlines was formed (1972). It was the dawn of a new beginning and both TDC and MAS were tasked to put Malaysia on the world tourist map. Since then, the Malaysian economy remains relatively robust with manufacturing and tourism taking the lead. Today, the tourism industry has experienced a rapid growth and gained an importance in the Malaysian economy. It is the second largest foreign exchange earner, after manufacturing. This is in line with the government’s objective to accelerate the domestic private sector and stimulate the services sector to spearhead economic growth. Tourism’s Contribution Receipts In the context of tourism receipts, the contribution from this sector has been very encouraging. For instance, the Malaysian economy registered RM17. 40 billion in receipts from 10. 22 million visitors in 2000 (just a year after implementing the three-pronged action). This constituted a 28. 9 per cent increase between 1999 and 2000. With the exception of 2003 (SARS Gulf War), this upward trend continued until today. From the tourism receipts (tourism revenue) contribution, there exists a steady growth. For example, tourism receipts increased from RM17. 40 billion in 2000 to RM24. 20 billion a year later and then increased further to RM25. 80 billion (2002), RM29. billion (2004) and RM32. 00 billion in 2005. Last year Malaysia received RM36. 3 billion (USD10. 4 billion) in tourism receipts. The top 10 markets in 2006 were Singapore (9,656,251 arrivals), Thailand (1,891,921 arrivals), Indonesia (1,217,024 arrivals), Brunei (784,446 arrivals), China (439,294 arrivals), Japan (354,213 arrivals), India (279,046 arrivals), Australia (277,125 arrivals), United Kingdom (252,035 arrival s) and the Philippines (211,123 arrivals). Gross Domestic Product (GDP) Malaysias services sector is the largest sector in the economy, contributing 52. % to GDP and 48. 6% to total employment in 2000. The government views the services sector as a catalyst for growth Last year, the national GDP was at RM1,098. 3 billion or USD 313. 8 billion (constant 1987 prices) with a growth of 5. 9 % of which RM36. 3 billion or USD 10. 3 billion came from the tourism sector thus making it as the second economic contributor for 2006. The Services Sector accounts about 54 % of the national GDP. Jobs / Employment Out of the total national workforce, 51% (2005) were in the services sector. This translates into almost 5. million out of the 10. 73 million of the national workforce being employed either directly or indirectly in the tourism sector, be it in hotels, restaurants, travel agencies, airlines, transportation etc†¦By providing job opportunities, the tourism sector has played a role in keeping unemployment down to a low at 3. 5% (2 005/2006). Retail Sector With the introduction of the MEGA SALE Carnival in 1999, the economy received a boost from the retail sector. The Malaysian tourism authority has undertaken efforts to position Malaysia as a leading international shopping destination. The Mega Sales Carnivals were held on a nationwide basis were successful in attracting more shoppers. Each Mega Sale has managed to attract additional half a million foreign visitors and day-trippers from theneighbouring countries, on top of the normal tourist arrivals. The effort facilitated the growth in tourism expenditure and consumer demand, which enhanced the growth of retail trade. For instance, in 2003, the retail sector made up just over 13% of Malaysia’s gross domestic product (GDP) and employed about 730,000 workers, or 7% of the total workforce. Then in 2005, the retail sector made a 10. 2 % growth in sales over the same period in 2004. Its relations to other sectors of the economy, such as wholesaling, advertisement and promotions, info technology and logistics, ensure it that it has a pivotal role to play. Education tourism The increase in the number of institutions of higher learning and twinning programmes with foreign universities provided the foundation for the growth in education tourism. Currently, over 50,000 foreign students registered with institutions of higher learning in the country. There are additional spins-offs as parents of foreign students took the opportunity to spend their holidays at tourist attractions when visiting their children. Education tourism has become popular as reflected by the demand for tours to visit schools to enable students from other countries to gain knowledge of the school education system as well as experience the Malaysian school atmosphere, which is unique with the social interaction of the various ethnic groups besides contributing to the national economy. Medical and Health Sector Since it was introduced in 1999, the medical and health tourism has contributed handsomely to the national economy. Last year (2006), a total of 296,687 health tourists visited Malaysia yielding revenue totalling RM203. 66 million (USD32. 8 million). Malaysia My Second Home Malaysia My Second Home Programme is promoted by the Government of Malaysia to allow people from all over the world who fulfil certain criteria, to stay in Malaysia as long as possible on a social visit pass with a multiple entry visa. The Social Visit Pass is initially for a period of ten (10) years (depending on the validity of the applicants’ passport) and is renewable. The programme has managed to attract more than 10,000 foreigners since it was introduced in 1996 to date. Last year alone there were 1,728 people registered under the programme, which has various flexible conditions, and was introduced to enable foreigners with a high income to stay in the country for at least five years or for a longer period of time. VISIT MALAYSIA YEAR 2007 This year, Malaysia’s focus will be on the Visit Malaysia Year (VMY) 2007, was is aimed at aggressively promoting Malaysia, increasing 4 tourist arrivals, as well as encouraging domestic tourism among Malaysians. Coincidentally, 2007 is also the year of Malaysia’s 50th independence. As such, the Visit Malaysia Year campaign is a timely event to celebrate Malaysia’s golden jubilee. It is an occasion to rejoice and to share with the world the unique qualities and virtues that have shaped Malaysia to be the country that it is today. The VMY 2007 campaign is expected to raise the awareness of foreign tourists to enable them to plan their holidays in Malaysia. For VMY 2007, the country has set a target to attract 20. 1 million tourists. Overall, there are over 240 events, of which, 50 being major eventsand 5 as international mega events. All these events are presented in `One Golden Celebration`. A celebration that brings Malaysia to the world, and the world to Malaysia. The first event of the year was the Visit Malaysia Year Grand Launch on 6 January by the Honourable Prime Minister of Malaysia in the presence 500 international media and trade representatives from all over the world. Highlight of the Grand Launch was the unveiling of the Eye on Malaysia, which is a 60-metre Ferris wheel followed by the Flora Fest Parade, a spectacular display of floats dressed in all kinds of flowers found in Malaysia. The other mega events include the Malaysian International Aerospace Adventure, the International Fireworks Display, the Malaysian International Tattoo and the KL International Buskers Festival. Conclusion: The tourism industry has come along way since its inception in 1959 with only a Tourism Department back then. Today, after 50 years and half of a century later, the industry has moved with such celerity to become the second income spinner to the national economy whilst experiencing tremendous growth from year to year. The string of awards and accolades awarded to Malaysia bears testimony to this fact. Malaysia was voted as one of the top five most popular outbound destinations in 2006 out of 100 countries in a poll organised by Guangzhou Daily, the biggest South 5 China newspaper which has a daily circulation of 1. 8million. Malaysia received two awards at the tourism film competition Das goldene Stadttor (The Golden City Gate) during the world’s largest tourism exhibition, ITB, in March 2007. The tropical nature paradise won the gold award for the â€Å"Malaysia Now† global online campaign and a silver award for its 60-second TV commercial themed â€Å"The Time is No w, The Place is Malaysia. † Malaysia was also named the â€Å"Best Tourism Destination 2006† by the American business travel magazine Global Traveller in the beginning of the year. In early May 2007, Malaysia was awarded as the `Best Summer Destination` for United Arab Emirates residents by Asfaar Magazine.

Wednesday, February 26, 2020

Exchange Traded Option Markets Essay Example | Topics and Well Written Essays - 2000 words

Exchange Traded Option Markets - Essay Example (Christopher, 2001; 45-57) However, most exchange-traded options are standardized. There are a set number of strikes and expiry dates available, and it is not generally possible to trade options on the shares of smaller companies. By contrast, in the OTC market dealers will sell and buy options on a wide range of shares, as long as they can find a way to manage the risks associated with such deals. Also, dealers offer a huge variety of non-standard contracts known collectively as exotic options. (John, 2002: 110-118) On some exchanges and with some contracts the buyer of an option is not required to pay the full premium at the outset. Instead, the purchaser deposits initial margin that is a proportion of the premium due on the contract. In the case of the individual stock options traded on LIFFE, the full premium is payable upfront. (Zuhayr, 2001, 63-70) However, the writers of options are subject to margin procedures. They must deposit initial margin at the outset, and will be required to make additional variation margin payments via their brokers to the clearing house if the position moves into loss. (Gordon, 2001: 121-129) The initial margin depends on the degree of risk involved, calculated according to factors such as the price and volatility of the underlying and the time to expiry of the contract. In practice, in order to cover margin calls, brokers often ask for more than the minimum initial margin figure stipulated by the clearing house. The derivatives exchanges also offer listed option contracts on major equity indices such as the S&P 500, the FT-SE 100 and the DAX. Contracts are of two main kinds. Some are options on equity index futures, and exercise results in a long or short futures position. Other contracts are settled in cash against the spot price of the underlying index. If a call is exercised the payout is based on the spot index level less the strike. If a put is exercised the payout is based on the strike less the spot index level. Options on indices and other baskets of shares can also be purchased directly from dealers in the OTC market. (Dimitris, 2000: 90-102) Some dealing houses issue securities called covered warrants which are longer-dated options on shares other than those of the issuer. Warrants are usually listed and trade on a stock market such as the London Stock Exchange. The term 'covered' means that the issuer is writing an option and hedges or covers the risks involved, often by trading in the underlying shares. (Austin, 2000: 73-81) Warrants are purchased by both institutional and retail investors (historically the retail market has been more active in Germany than in the UK). (Christopher, 2001; 45-57) Warrants can be calls or puts and written on an individual share or a basket of shares. They are sometimes settled in cash, and sometimes through the physical delivery of shares. UK Stock Options on LIFFE Table 1 shows some recent prices for stock options on Royal Bank of Scotland Group plc (RBOS) traded on LIFFE. These are the offer or sale prices for contracts posted by dealers placed on the exchange's electronic dealing system, LIFFE Connect. At the time the quotations were taken the options had just over two weeks remaining until expiry and the underlying RBOS share price was 1781

Sunday, February 9, 2020

What was the Enlightenment and Why is it important for modern Essay

What was the Enlightenment and Why is it important for modern unversities - Essay Example The rest of the essay will foray into the wider implications of the Enlightenment and try to capture its significance to the academia of today. The Enlightenment has had a profound impact on the cultural evolution of Western Europe in particular and the whole of the continent in general. A landmark piece of scholarship that turned the tables in favor of scientific reasoning is Newton’s analysis and description of natural physical phenomena. The immediate impact was discernible in written literature of the day, due to the scope of this medium of art (Brians, Paul, 1998). On the other hand, it took longer for ideas of the Enlightenment to penetrate into art forms such as music and painting due to the emphasis on traditionally acquired technique in these art forms. While it is difficult to categorize the newly evolving artistic manifestations of the time, a few broad trends could be noted. For example, â€Å"At the opening of the century, baroque forms were still popular, as they would be at the end. They were partially supplanted, however, by a general lightening in the rococo motifs of the early 1700s. This was followed, after the middle of the century, by the formalism and balance of neoclassicism, with its resurrection of Greek and Roman models. Although the end of the century saw a slight romantic turn, the eras characteristic accent on reason found its best expression in neoclassicism.† (Hackett, 1992) As mentioned before, this rise of neoclassical artistic expression found its highest glory in the Literature of the day. All forms of literature, ranging from prose, narrative verse, poetry, plays, etc were infused with newly discovered scientific truths and newly evolving systems of natural philosophy. Such luminaries as Alexander Pope, Phyllis Wheatley, Voltaire and Jonathan Swift among others were at the

Thursday, January 30, 2020

Translation Method Essay Example for Free

Translation Method Essay As â€Å"modern† languages began to enter the curriculum of European schools in the eighteenth century, they were taught using the same basic procedures that were used for teaching Latin. Textbooks consisted of statements of abstract grammar rules, lists of vocabulary, and sentences for translation. Speaking the foreign language was not the goal, and oral practice was limited to students reading aloud the sentences they had translated. These sentences were constructed to illustrate the grammatical system of the language and consequently bore no relation to the language of real communication. By the nineteenth century, this approach based on the study of Latin had become the standard way of studying foreign language in schools. A typical textbook in the mid-nineteenth century thus consisted of chapters or lessons organized around grammar points. Each grammar point was listed, rules on its use were explained, and it was illustrated by sample sentences. This approach to foreign language teaching became known as the Grammar-Translation Method. Principle of The Grammar-Translation Method 1. The goal of foreign language study is to learn a language in order to read its literature or in order to benefit from the mental discipline and intellectual development that results from foreign language study. 2. Reading and writing are the major focus; little or no systematic attention is paid to speaking or listening. 3. Vocabulary selection is based on solely on the reading texts used, and words are taught through bilingual words lists, dictionary study, and memorization. 4. The sentence is the basic unit of teaching and language practice. 5. Grammar is taught deductively. . Translation interprets the words and phrases of the foreign languages in the best possible manner. 7. The phraseology and the idiom of the target language can best be assimilated in the process of interpretation. 8. The structures of the foreign languages are best learnt when compared and contrast with those of mother tongue. 9. The teacher is the authority in the classroom. It is very important that students get the correct answer. 10. Learning is facilitated through attention to similarities between the target language and the native language. Advantages 1. An effective way for application of grammar and sentence structure I think the exercises that are given after translation is very beneficial and accurate for grammar learning. 1. Few demands on teachers. Also, It is practical and easy to implement. In this method, teacher only deals with organization and implementation of exercises. So this means teacher has not a lot to do. In other word; this method does not require lots of thing but a passage of literature text and a few exercises, it is pretty easy to carry out. 2. Least stressful for students Students prepare themselves for exercises and memorization of vocabulary and grammar rules. Disadvantages 1. The Grammar Translation Method can make the language learning experience uninspiring and boring. All the classes can be taught in the same way so after some time students may get bored. Also I think that language teaching should be done very different ways in order to inspire students. 2. The Grammar Translation Method can leave the students with a sense of disappointment when they travel to countries where the studied language is used  because they can’t understand what people say and have difficulty in expressing themselves at the most basic level. . This method neither approaches nor encourages the students’ communicative (speaking amp; listening skills) competence. Reading and writing are the major focus of this method so speaking and listening skill remain in the shadow of writing and reading. 4. Language is learned by conscious memorization of grammar rules and vocabulary. Nowadays memorization isnt highly regarded; internalization through exposure, experience and use are preferred. Language learning needs to be beyond memorization because I think language should be learnt with experiences. . Lack of communication between students. The teacher explains, translates, conducts practice, and corrects mistakes, and learners interact with the teacher, not with each other. That’s because, students can easily make what they learnt permanent with interactions between them.

Wednesday, January 22, 2020

Appearance vs Reality Essay -- essays papers

Appearance vs Reality One normally disguises in order to be someone else, whether this be in a costume during Halloween, or as a character in a play or movie. Shakespeare uses the idea of disguise in his ‘Taming of the Shrew’ The minor theme of the play is appearance vs reality. Throughout the drama, things are never really as they seem. Katherine appears to be a real shrew, but it is all a cover-up for the hurt she feels. Bianca appears to be a self-sacrificing angel, but she is really a spoiled young lady who can quickly revert to shrewish behavior. Baptista appears to the outside world as a wonderful father; in truth, he pampers Bianca, totally spoiling her, and treats Katherine badly, depriving her of the loving attention she needs and seeks. Pe...

Tuesday, January 14, 2020

Hourly Rounding & Fall Precaution Essay

Falls are a common occurrence among medical, surgical and elderly patients in hospitals. One of the largest categories of reported adverse events in hospitals are patient falls, which are estimated to cost more than $20 billion a year. (2010 Lippincott Williams &Wilkins, Inc.) Prevention is the best method to decrease the number of falls and reduce hospital cost and increase patient satisfaction. One of the best ways to prevent falls is patient hourly rounding. Hourly rounding means intentionally checking on patients at regular intervals continuously to ensure patients’ needs has been met. Attending to patients’ comfort, safety, and environmental needs may prevent adverse events like falls and contribute to patients’ satisfaction. There is study which evaluates the effectiveness of hourly rounding to reduce the rate of falls. Purpose: The purpose of this study was to determine the effect of hourly rounding on fall rates and patient satisfaction in patients. Metho ds: MEDLINE and CINAHL were the search engines. Key search words were hourly/patient rounding, falls, call lights, and patient satisfaction ( Margo A 2009). Evaluations were conducted in all hospital units, telemetry, medical/surgical and orthopedic. Reports were retrieved .In 5 of 6 studies (83%) that examined use of call lights, the use was reduced. (Meade C 2006) reported that nurses were summoned 12 to 15 times daily to respond to non-urgent needs such as toileting, positioning, or pain relief. By nurses’ anticipating these needs through making rounds, patient care may be interrupted less with non-urgent calls. Fall rates were reduced in 7 of 9 studies (77%) in which falls were evaluated. In one study, (Kalman M 2008) making rounds did not affect the rate of falls, and in another study ((Bourgault A 2008) the rate of falls increased. Other studies uncovered less use of restraints (Assi M 2008) and attendants when making rounds was instituted. In 8 of 9 studies (88%), researche rs discovered improvements in overall patient satisfaction (Medsurg Nurse. 2008) .They were more satisfied with anticipation and attention to personal needs, timeliness of nurses’ response, and management of pain. Patients who had frequent admission to the hospital noted the difference after implementation of hourly rounding. They perceived the nursing staff to be more attentive. Available evidence  represent that making rounds is appropriate, safe, and useful for practice and has positive impact to decrease rate of falls and increase patient satisfaction. Conclusion: Decreasing patients fall and increasing patient satisfaction are important goal in any organizations .In this study hourly rounding has improved patient satisfaction and decreased rate of falls in patients significantly, however higher quality study designs are needed to assess the effect of hourly rounds in a variety of settings, including units with a history of good outcomes, to determine what promise making rounds holds for further improvements (Meade C 2006). The study of hourly rounding is very significant to the nursing. Many studies reviled the importance of hourly rounding and it is an interdisciplinary practice in most of the institutes. Making hourly rounds can be viewed as a bundle of interventions that promote not only comfort but safety of both patients and nurses (Mosby,2008).Hourly rounding helps nurses to anticipate and evaluate the needs of patients ,addresses the 4ps (pain , position , potty , possessions) and additional comfort needs . Research about hourly roundi ng shows it is effective in increasing patient satisfaction, increasing nursing satisfaction and increasing quality by reducing fall rates. Hourly Rounding & Fall Precaution Falls are a common occurrence among medical, surgical and elderly patients in hospitals. One of the largest categories of reported adverse events in hospitals are patient falls, which are estimated to cost more than $20 billion a year. (2010 Lippincott Williams &Wilkins, Inc.) Prevention is the best method to decrease the number of falls and reduce hospital cost and increase patient satisfaction. One of the best ways to prevent falls is patient hourly rounding. Hourly rounding means intentionally checking on patients at regular intervals continuously to ensure patients’ needs has been met. Attending to patients’ comfort, safety, and environmental needs may prevent adverse events like falls and contribute to patients’ satisfaction. There is study which evaluates the effectiveness of hourly rounding to reduce the rate of falls. Purpose: The purpose of this study was to determine the effect of hourly rounding on fall rates and patient satisfaction in patients. Methods: MEDLINE and CINAHL were the search engines. Key search words were hourly/patient rounding, falls, call lights, and patient satisfaction ( Margo A 2009). Evaluations were conducted in all hospital units, telemetry, medical/surgical and orthopedic. Reports were retrieved .In 5 of 6 studies (83%) that examined use of call lights, the use was reduced. (Meade C 2006) reported that nurses were summoned 12 to 15 times daily to respond to non-urgent needs such as toileting, positioning, or pain relief. By nurses’ anticipating these needs through making rounds, patient care may be interrupted less with non-urgent calls. Fall rates were reduced in 7 of 9 studies (77%) in which falls were evaluated. In one study, (Kalman M 2008) making rounds did not affect the rate of falls, and in another study ((Bourgault A 2008) the rate of falls increased . Other studies uncovered less use of restraints (Assi M 2008) and attendants when making rounds was instituted. In 8 of 9 studies (88%), research ers discovered improvements in overall patient satisfaction (Medsurg Nurse. 2008) .They were more satisfied with anticipation and attention to personal needs, timeliness of nurses’ response, and management of pain. Patients who had frequent admission to the hospital noted the difference after implementation of hourly rounding .They perceived the nursing staff to be more attentive. Available evidence represent that making rounds is appropriate, safe, and useful for practice and has positive impact to decrease rate of falls and increase patient satisfaction. Conclusion: Decreasing patients fall and increasing patient satisfaction are important goal in any organizations .In this study hourly rounding has improved patient satisfaction and decreased rate of falls in patients significantly, however higher quality study designs are needed to assess the effect of hourly rounds in a variety of settings, including units with a history of good outcomes, to determine what promise making rounds holds for further improvements (Meade C 2006). The study of hourly rounding is very significant to the nursing. Many studies reviled the importance of hourly rounding and it is an interdisciplinary practice in most of the institutes. Making hourly rounds can be viewed as a bundle of interventions  that promote not only comfort but safety of both patients and nurses (Mosby,2008).Hourly rounding helps nurses to anticipate and evaluate the needs of patients ,addresses the 4ps (pain , position , potty , possessions) and additional comfort needs . Research about hourly rou nding shows it is effective in increasing patient satisfaction, increasing nursing satisfaction and increasing quality by reducing fall rates.

Monday, January 6, 2020

Societys Problem with Physical Appearance - 695 Words

I have five minutes to explain to you one of the most important yet ignored problems in society today. Today’s society has a problem with physical appearance. We are obsessed with it! Everything from our skin to the shape of our nose is under society’s microscope and qualifications of what beauty is. This is mainly due to magazines and other form of media that portray what is is seen as beautiful. Many magazines have ads for anti aging products and makeup to hide perceived imperfections that women have. I have personally had this experience walking down the cosmetic aisle at Target. Ads for makeup fill the hall with phrases such as â€Å"flawless finish† and â€Å"age defying† portraying and unrealistic view of what makeup actually does to your skin. With these phrases are pictures of models with the product who do in fact look â€Å"flawless† and â€Å"age defying†. However the model is â€Å"flawless† due to photoshop and â€Å"age defying† due to the fact that she is young. With this in mind, it is easy to see how ignorant our society has become to the portrayal of physical appearance. I feel that our society does not even realize how obsessed it is with physical appearance. According to the Chicago Tribune, Americans spend an annual 9 billion dollars on cosmetic surgery. Talk about an economic stimulus!! I know that in Orange County, plastic surgery is the norm. Everyone has some sort of â€Å"work† or â€Å"touch up done†. 1:50 Women walk the streets with fake and overinflated boobsShow MoreRelatedThe Bluest Eye By Toni Morrison1740 Words   |  7 Pagesauthor Toni Morrison uses the internalization of beauty standards and its effect on characters’ social interactions with the community to reveal society’s assumption that appearance is the decisive factor in determining one’s status and critique its detrimental effect on one’s personal identity. 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