Definition and Examples of Metadiscourse

Metadiscourse is an umbrella term for words used by a writer or speaker to mark the direction and purpose of a text. Adjective:  metadiscursive. Derived from the Greek words for beyond and discourse, metadiscourse can be  broadly defined as discourse about discourse, or as  those aspects of texts  that affect the relations of authors to readers (Avon Chrismore, Talking With Readers, 1989). In Style:  The Basics of Clarity and Grace (2003), Joseph  M. Williams notes that in academic writing, metadiscourse appears most often in introductions, where we announce intentions: I claim that . . ., I shall show . . ., We begin by . . . and again at the end, when we summarize: I have argued . . ., I have shown . . ., We have claimed . . .. Explanations of Metadiscourse Some of our most common and useful metadiscourse signals are the conjunctive adverbs . . .: however, so, nevertheless, and prepositional phrases such as in other words, in addition, and in fact. Other text connectors youre familiar with, such as first, in the first place, second, next, finally, and in conclusion, clearly add to the ease of reading, the flow of the text.(Martha Kolln, Rhetorical Grammar: Grammatical Choices, Rhetorical Effects. Pearson, 2007)Metadiscourse reveals the writers awareness of the reader and his or her need for elaboration, clarification, guidance and interaction. In expressing an awareness of the text, the writer also makes the reader aware of it, and this only happens when he or she has a clear, reader-oriented reason for doing so. In other words, drawing attention to the text represents a writers goals relative to an assessment of the readers need for guidance and elaboration.(Ken Hyland, Metadiscourse: Exploring Interaction in Writing. Continuum, 2005) Writers and Readers Metadiscourse refers to the writers thinking and writing: We will explain, show, argue, claim, deny, suggest, contrast, summarize . . .the writers degree of certainty: it seems, perhaps, undoubtedly, I think . . .   (We call these hedges and intensifiers.)the readers actions: consider now, as you might recall, look at the next example ...the writing itself and logical connections among its parts: first, second, third; to begin, finally; therefore, however, consequently...   (Joseph  M. Williams,  Style:  The Basics of Clarity and Grace. Longman, 2003) Metadiscourse as Commentary Every student who has silently suffered a course of lectures, surreptitiously watching the clock, . . . knows what metadiscourse is, although the word may be quite unfamiliar. Metadiscourse is Last week and Now I propose to turn to and What are we to understand by this? and If I may put it metaphorically, all the way through to And so to conclude... followed by Finally... and Next week we shall go on to examine ...[M]etadiscourse is a kind of commentary, made in the course of speaking or writing. The essential feature of this commentary is that it is not appended to the text, like a footnote or a postscript, but is incorporated with it, in the form of words and phrases fitted into the unfolding message...Now many of the words and phrases we characterize, in their context, as metadiscourse quite obviously function as marks of text structure, or taxis, while as many again seem to occur as explanatory or corrective comments on diction and style, that is, lexis.(Walter Nash, An Uncommon Tongue: The Uses and Resources of English. Taylor Francis, 1992) Metadiscourse as a Rhetorical Strategy Definitions of metadiscourse that rely upon a clear-cut distinction between discourse (content) and metadiscourse (non-content) are ... shaky. Especially when analysing naturally-occurring speech, it cannot be assumed that all forms of communication about communication can be adequately separated from communication itself...Instead of defining metadiscourse as a level or plane of language, or a distinct unit separate from primary discourse, metadiscourse can be conceptualised as a rhetorical strategy used by speakers and authors to talk about their own talk (Chrismore 1989: 86). This is essentially a functional/discourse-oriented as opposed to a formally-oriented view.​(Tamsin Sanderson, Corpus, Culture, Discourse. Narr Dr. Gunter, 2008)

Industrial Revolution How Did the Industrial Revolution...

2. How did the Industrial Revolution transform society? During the 1700s, manufacturing companies in Britain began producing goods in a completely new way that would soon spread across Europe and then across the world. Inventors built remarkable machines. New forms of power, such as steam, replaced the strength of human and animals. The factory system of making goods also came into use. All of these advances affected patterns of living as well as working. Because society was so transformed, this time of great change is known as the Industrial Revolution. The Industrial Revolution brought with it an increase in population and urbanization, as well as new social classes and an alternation in international balance of political and military†¦show more content†¦The industrialization produced many unpleasant social inventions. Production by machinery threw a large number of people into unemployment. The factory system resulted in over-crowding and unhygienic conditions and also t he development of slum areas. Many if not all factory owners who needed cheap, unskilled labor, profited greatly by using children and women to run the machines and because they were small and could fit in tunnels as wellÂ…not only thatShow MoreRelatedThe Invention Of The Industrial Revolution1463 Words   |  6 Pagesin a society where technology allows me to gain access to a relatively easy lifestyle compared to those who lived in the 18th century. Prior to the 18th century and pre-industrial times, the way one sustained and obtained means for survival transformed fairly insufficiently. However, once the Industrial Revolution ignited throughout Europe, the course one’s of livelihood forever changed. While the Agricultural Revolution was a sufficient step forward in metamorphosing human society, it did not reignRead MoreThe Rise Of The Industrial Revolution1464 Words   |  6 Pagesâ€Å"If I had asked people what they wanted, they would have said faster horses,† said Henry Ford. The Industrial Revolution was a stage in the evolution of human society in which a lot of change was effected, not only because of all the new technology being invented, but in the structure of society. As people started to stand up for their rights and rejecting the long-standing institution of wealth determining status, the Old Regime had to adapt. France’s Constitution of 1791 had one law that classifiedRead MoreOrigins Of The Twin Revolutions1287 Words   |  6 PagesInstructor –Ibrahim Bilal History 3005 December 1, 2015 What were the origins of the â€Å"twin revolutions† and how did they combine to create what we call â€Å"modernity†? Modernity, it is a macro process of transition from traditional to modern society. â€Å"Formation of a modern political map of the world began in early 1800 in Western Europe and maybe characterized as the product of the twin revolutions.† European colonization of the New World, the economic and political development of new territoriesRead MoreKarl Marx s Theory Of Crime And Deviance1696 Words   |  7 Pageseighteenth century and was one of the first to develop and explain a conflict perspective on how society functions, he was a liberal reformist who had more radical views about the origins of crime and deviance. He became popular in the US and UK during the 1970’s. Like many radical criminologists, he developed the perspective of the conflict theory that explained how some social interactions result in to conflict and how individuals engage in conflict daily to gain more social wealth and resources. As someRead MoreApplications For Real World Problems1534 Words   |  7 Pagestransportation. It was these needs that provoked an unthinkable amount of innovation to what has lead us to this day and age. A major key in the creation of the real world as we know it today is the knowledge and use of coal, which started during the Industrial Revolution from 1760 to 1840 and its continued success in this day and age that allowed us to advance at a pace so rapid that it could not have been imagined even 50 years ago despite the lack of accreditation that coal actually receives for its enormousRead MoreHistory Of The World. Arguement: Throughout All Of Human1642 Words   |  7 Pages History of the World Arguement: Throughout all of human history, each major revolution or major event has lead to an even more important event or more significant revolution following it. During the Paleolithic period, humans grouped together in small societies such as tribes, and survived by gathering plants and hunting wild animals.The Paleolithic is characterized by the use of stone tools, although at the time humans also used wood and bone tools. Humankind gradually evolved from early membersRead MoreThe Spring Of 1865 And Its Impact On Society897 Words   |  4 Pageswould mark a change in society because the Civil War had just ended; the North had won victory over the South. The time period after the war ended would be known as the Reconstruction Era, which would last until 1877. During this time, America would try to bring an angered South back into the Union, and transform ex-slaves into equal citizens. After the Reconstruction Era, the Gilded Age emerged. The word Gilded means to be covered up with a gold leaf or paint. This is exactly how this time can be describedRead MoreIndustrialization : The Transformation Period From An Agricultural Economy1157 Words   |  5 Pagesan agricultural economy to a mass-producing one. This is an essential step towards avoiding poverty that is established in less-developed states by transitioning from an agrarian to an industrial society. Two broad aspects of industrializing are a change in labor activity, such as farming to manufacturing, and how productive economic output occurs. Within this process, new industries are allowed to develop and the quality of life is improved due to the increase in individual and national income.Read MoreEffects of Industrialization and Imperialism Essay1567 Words   |  7 PagesHistory Honors / Block #6 Due: April 16, 2013 Therefore, one must understand how throughout the times of Imperialism, and Industrial Revolution, aspects such as working conditions, population expansion and colonial enhancement prove why advancements were beneficial to the modern world in the long run. â€Æ' The Industrial Revolution marked a time in history when advancements in technology proceeded to transform the industries and lifestyle of Europeans. Between the steam engine for factoriesRead MoreThe Various Structures Of Empires And Global History1650 Words   |  7 Pageshistory. Understanding empires and imperial rules are fundamental understanding the reasons why and how certain events transpired. Beginning with a brief introduction of empires, including the general reasons empires expanded and how. Following the definition of empires, we will use the various social, political, and economic structures of empires to discuss how the slave trade, industrial revolution, and the scramble for Africa were a have a causal relationship with empires and imperial rule.

Evaluation of revenue management application in Nigerian hotels. Free Essays

string(358) " in Nigerian hotels To what extent do Nigerian hotels consider Customer loyalty, customer satisfaction and customer retention a priority Limitations For the sake of this thesis, only three hotels will be explored from each of the 36 states in Nigeria, because there are several unregistered hotels and there is no proper list of all the hotels in Nigeria\." Abstract This thesis has provided a structured literature review which gives a broader definitions of the major concepts in revenue management in terms of the applications and the long term relationship with customers. It then explores the extent to which revenue management is been applied in the Nigerian hospitality sector. The aim of this thesis is to analyze revenue management application in some selected hotels in Nigeria, Nigeria is made up of 36 states including the Federal Capital Territory. We will write a custom essay sample on Evaluation of revenue management application in Nigerian hotels. or any similar topic only for you Order Now Three hotels will be selected from the 36 states adding up to a total of 108 hotels to which questionnaires will be sent, the result will give how RM is been applied in line with the manipulation techniques involved, above that, from the research, it will conduct a development plan for other hotels under utilising the full strength of RM tools. The goal of this thesis is to improve the profitability of the room capacity with the tools of revenue management being explored, The theoretical data for this thesis will be collected from the selected hotels, hospitality management literatures, and Internet. In addition, other important information sources will be from the author’s personal experience and a result from the questionnaires rolled out to gain a reliable and comprehensive information of the RM adoption. 1.0 Introduction This chapter gives an introduction to RM, following literatures by Orkin, (1990), Jones and Val, (1993), Karaesmen and van Ryzin, (2004), Kimes, (2000, 1998), Rothstein (1971, 1975), Bitran and Caldentey, (2003), and Weatherford, (2003). We start with an elaborated explanation of revenue management, the history and its origin (Rothstein (1971, 1975), Bitran and Caldentey, (2003), and Weatherford, (2003)). Afterwards, a conceptual framework for understanding the objectives of revenue management, the business platform on which RM can be adopted (Kimes, 1989), the way the system works and finally, this thesis will conclude by giving an outline of the remaining chapters of the thesis. We here trace the history of revenue management as practiced in the hospitality industry in an effort to illustrate what Jones and Lockwood, (1998), said about RM, they said that Revenue management is a well researched and explored manipulation technique for maximising revenue. Unfortunately, revenue management practice in Nigeria is little known, for example, it has been a commonplace to sell a room twice a day if the opportunity arise, increasing the revenue generated directly leading to RM application indirectly, this form the bisis of this dissertation and it is a gap this research is seeking to fill by exploring the extent to which RM is practised in Nigerian hotels directly and not been blind folded by an indirect approach of the application of Revenue Management. RM can be define as a management tool or technique which is currently being utilized by an increasing number of international chain of hotels and independently owned hotels in order to maximize the effective use of their available room capacity and ensure a boost financially, (Salmon, 1990). Furthermore, Jones and Lockwood, (1998), researched and concluded that RM is not entirely a new capacity manipulation tactic in the world, and most hoteliers practice some form of RM, such as the adjusting of room rates to temper fluctuations between peak and off-peak seasons, mid-week, and weekend rates. This Research, therefore, examines the use and application of RM in the hotel industry in Nigeria and aims to demonstrate its application towards effectively maximizing room revenue and profit maximization. For the sake of this thesis, a comprehensive literature review based on secondary sources in order to explore RM application will be established as a guide to the fieldwork and the areas of interest will be extracted from the literature review. Above others, these areas and issues will be investigated through the method of collecting primary data. Furthermore, all collected documentations will be made available in order to validate the information given during these interviews. This thesis is a very satisfying and challenging process since it focuses on the gap which has never been researched in the hospitality industry in Nigeria. Nevertheless, it is a valuable learning experience which will be cherished by revenue managers in Nigeria in order to enhance the revenue generated in their respective hotel(s). This thesis seek to give a proper understanding of revenue management tools including; Overbooking, Inventory control, displacement analysis pricing and lastly forecasting method, their impacts on the corporate performance in terms of customer satisfaction and loyalty leading to customer retention will be of secondary concern. 1.1 Aim This thesis seeks to explore the extent to which revenue management is being practised in Nigerian hotel in terms of the usage of RM tools which is afore mentioned. This will be achieved by exploring three hotels from each 36 states in Nigeria, some which will be from an international chain of hotels and others an independently owned hotels. Questionnaires will be rolled out to these selected hotels in other to have a generic perception towards the adoption of RM following the literature by Vinod (2004) in that the value of revenue management is assessed in the hotel industry. 1.2 RESEARCH OBJECTIVES AND QUESTIONS Every seller is faced with fundamental decisions, juxtaposing this, a BBQ restaurant selling chicken and chips should be able to decide on which period to make her maximum sale, the price to give and when to reduce the price. A cinema ticket or stadium ticket must be sold within a certain period, therefore, the manager must decide when to start selling tickets, what the asking price should be, and when to drop price if necessary. In the Hotel industry, it is similar; hotel managers should know when to drop prices on rooms, when to stop selling rooms, when to increase the prices of rooms. Following these examples, the Nigerian hotels’ operations led us to the objectives of the thesis: To explore the extent to which revenue management is applied. To seek the awareness of RM within the Nigerian hotels. Research questions: How is revenue managed in Nigerian hotels To what extent do Nigerian hotels consider Customer loyalty, customer satisfaction and customer retention a priority Limitations For the sake of this thesis, only three hotels will be explored from each of the 36 states in Nigeria, because there are several unregistered hotels and there is no proper list of all the hotels in Nigeria. However, some of the hotels are part of international chain of hotels operating on an international level while some are independently owned. Furthermore, we have limited the research to RM application and from the survey, the sensitive areas as regards to customer loyalty, satisfaction and long term retention will be explored, in other words, the loyalty, retention and satisfaction will be our secondary aim. Nonetheless, there may of course be other operations or practices within these hotels that affect revenue but our research is focused on the five RM tools been employed as afore mentioned. The followings under listed are the possible limitation this thesis might face. Finance One of the major problems for the research is finance, the financial aspect in terms of travelling to Nigeria to schedule and execute an interview with the managers of the selected hotels and therefore, questionnaires will be sent via the wireless network (internet) using kwicksurvey; an internet based questionnaire software. Authenticity of information Secondly, Some of the managers to fill the questionnaires might accept the purpose of the study and fill, but some might be offended by it and feel it is a time wasting process and give a biased information. Time constraints Lastly, the risk for the study of not been able to find the information it needs at the allowed time. Finding the information may take more time than the limited time given (time constraints). Research Outline Chapter one will set a solid foundation for this thesis, therefore, the research will continue by presenting a comprehensive literature review as far as revenue management is concerned in Chapter Two. A concise description and critical understanding of RM background will be the aim of the literature review (Chapter two). Furthermore, an overview of the literature within the following RM tools including; overbooking, displacement analysis, price control, inventory control (length of stay restriction) and as they lead to customer management will be given in order to set the base and create an understating of how these tools influence revenue generated. Chapter Two concludes with a brief structured analysis of the literature review presented. Chapter three will seek to explore and examine the aim of the research process and how the fieldwork will be conducted. Research limitations will be presented, the fieldwork and how information will be handled. This chapter describes what happens in all the stages on the fieldwork. (Before, during, and after the fieldwork). In Chapter Four we present a generic practice within the studied hotels and give a short generic presentation of the hotels participating and describe how RM tools are used in terms of the followings; overbooking, displacement analysis, price control, inventory control (length of stay restriction). Concluding the chapter with a description of how the respondents recognize the external environment followed by their perception on revenue management and their practices of RM techniques. In Chapter Five, the empirical findings will be evaluated and analysed in a way that it can be linked with the literature overview presented in Chapter Two. This will be done through a critical analysis. These analyses will illustrate the effectiveness of RM application in Nigerian hotels and how it is been adopted, therefore, Chapter Six will be based on the analysis of revenue management tactics. Chapter Six gives the implication of our main findings and conclusions, as this will be based on the entire research carried out, Furthermore, suggestions of areas which is felt to be further developed after critical evaluation of RM application in Nigeria is made following Choi and Mattila (2004)’s investigation on the impact of revenue management as regards to customers’ perceptions on fairness. LITERATURE REVIEW ON REVENUEMANAGEMENT Revenue ManagementDefinition In this chapter, RM literature will be explored, following all the five application tools afore mentioned. In the literature, Burgess and Bryant, (2001) said, many authors are conversant with the use of interchanging the term revenue management (RM) with yield management (YM). Some consider YM only to be related with revenue derived from accommodation whereas RM may encompass all areas of hotel revenue Therefore, it is important to highlight the term YM and clarify its meaning for the purpose of this thesis. Many definitions are available on YM. Jones and Val, (1993) said, yield is calculated by taking revenue realized and dividing it by revenue potential. However, RM is often associated with the following definition by Kimes, (2000, p. 121) â€Å"The application of information systems and pricing strategies to allocate the right capacity to the right customer at the right place at the right time.† further assessment conducted by Mitchell (1992) states that revenue management is the process of controlling room availability by opening, closing and restricting different room rates based on forecast demand in order to maximise room revenue. Jauncey et al. concluded through an analysis of literatures, came up with the term â€Å"best fit† definition for RM, which is â€Å"An integrated, continuous and systematic approach to maximizing room revenue through the manipulation of room rates in response to forecasted patterns of demand.† Jauncey et al., (1995, p. 25) and a description of RM, according to Jones and Val (1993), is to apply basic economic principles to pricing and to control the supply of rooms for the purpose of maximizing room revenue. Which means that in order to have an effective RM technique in place one would need to understand the basic economics of supply and demand so that the right price could be set in order to increase room revenue for the company, following what kimes (1998a) said about selling the right product to the right customer at the right time and the right place. Nevertheless, some conditions for the application of revenue management must predominate according to kimes (2000). These conditions include; Capacity must be relatively fixed, RM tactics is primarily designed for a capacity constrained firms but firms not having this capacity constraints can make use of inventory as a buffer dealing with fluctuations in demand. Service should be perishable, service ends when ends. Service could be sold well in advance of cunsumption, to maximize room revenue, some sort of reservation system which allows inventory bookings to be received well in advance should be put in place. The cost of a sale should be relatively low, this simply means the cost of putting a guest in another unoccupied room is relatively lower than building another room. Demand should flunctuate substancially, peak and off peak seasons, festive periods are all examples of demand fluctuations. Market could be segmented e.g Leisure travellers and business travellers. When looking at the literature from a historical perspective, it was the airline industry that has been credited with the development and refinement of RM following the deregulation of the U.S. airline industry in the 1970s, Kimes, (1989a), and McMahon-Beattie et al., (1999). This deregulation resulted in a heavy competition within the airline industry and led to a price cutting war. Nevertheless, from the literatures of Rothstein (1971, 1975), Bitran and Caldentey, (2003), and Weatherford, (2003), managing inventory became an important part of running a successful business in the early 1970s. As a result of this competitive circumstances, McMahon-Beattie et al., (1999) said, the adoption of RM began in the hotel industry in the middle of the 1980s as the industry was faced with excess capacity, severe short-term liquidity problem and increasing business failure rates. Purpose of Yield Management Jones and Hamilton (1992) among others said, RM in the hotel industry tries to maximize the available guest room rates when room demand exceeds available room and to maximize occupancy when available room exceeds room demands, even at the expense of the average room rate. Nevertheless, some authors like Jauncey et al., (1995), McMahon-Beattie et al.,(1999), Siguaw et al., (2001) all agree that the purpose of RM is the maximization of room revenue through the manipulation of room rates in a structured fashion, so as to take into account forecasted patterns of demand. It is a technique that attempts to maximize profits by using information about buying behaviour and sales to create pricing and inventory controls, Lee-Ross and Johns, (1997). Why RM. Donaghy et. al., (1995), and Kimes, (1989b) just to mention a few, has examined RM applications and studied its definition, researchers like Donaghy and McMahon, (1995), Fitzsimmons and Fitzsimmons, (1998), Hiemstra, (1999), Kimes, (1989a, b, 1997), Yeoman and Watson, (1997), looked at the critical factors that are likely to influence the application and implementation of RM and finally, the ethical issues in terms of customer satisfaction, retention and loyalty over a long period of time can be seen in the following literatures, Cross, (1992, 1997), Jauncey et al., (1995), Kimes, (1994), and Lieberman, (1993). Cross, (1997) added that within one year of the adoption of RM, Delta airline generated $300 million increment, $500 million annually was recorded annually by American airline, over $100 million is annually generated by Marriott jr Hotels and $2 million gained in the first two weeks, following the adoption of RM techniques at the Canadian Broadcasting Corporation. RM Tools Pricing strategies First and foremost, RM tools are intertwined, one tool depends on the other to function effectively. Pricing strategies used to be a decision by the overall managers before, but in recent years, that schedule has been given to a revenue manager but the principle of differential pricing is said not to be attributed to the immergence of RM by Donaghy, et al (1995). Hotel managers have long been using various pricing strategies to maximize their profits by bringing the seasonal demand for rooms and capacity limitations into a balance (Choi and Cho, 2000), even before the deregulation in the airline industry that gave birth to RM in the 1970’s. Differential pricing strategies including; price discrimination, off peak pricing and demand based pricing may change the reference price and reference transaction which could cause customers to feel the current transaction is unfair and the customer could even perceive such differential pricing as price gorging. (Whirtz et al (2003; pg 220 )), A stochastic or probabilistic demand seemed justified on the basis that consumers ‘arrive’ at random times before consumption. From the pricing perspective, though, a theoretical structure was needed to explain how demand is shaped or why it would follow a particular pattern across time. Otherwise, there was no assurance that the past is able to predict the future [Bernstein, 1996; Ng, 2004]. Accordingly, despite tremendous computing power available today, pricing based on demand forecasts faces the same old problem in conventional probability theory, where, according to Bernstein [1996: 334], ‘the raw material of the model is the data of the past’. Some research studies have attempted to shed some light on the behaviour of the advance buyer. The literature is scant, dominated by marketing, and not commonly brought into revenue management research. For example, Desiraju and Shugan [1999] evaluated strategic pricing in advance selling and found that yiel d management strategies such as discounting, overbooking and limiting early sales work best when price-insensitive customers buy later than price-sensitive customers. Shugan and Xie [2000] showed that due to the state dependency of service utility, buyers are uncertain in advance and become certain at consumption time while sellers remain uncertain of buyer states at consumption time because of information asymmetry. They suggest that advance selling overcomes the informational disadvantage of sellers and it is therefore a strategy to increase profit. Xie and Shugan [2001] studied when advance selling improves profits and how advance prices should be set. They have also investigated the optimality of advance selling, investigating selling in a variety of situations, buyer risk aversion, second period arrivals, limited capacity, yield management and other advance selling issues. Png [1989], on the other hand, showed that costless reservations in advance is a profitable pricing strate gy as it induces truth revelation on the type of valuation that the consumer has for the service (which is private information). If the consumer has a high valuation i.e. ability to consume, s/he will use the reservation and pay a higher price. If not, the consumer will not use it. In another paper, Png [1991] compared the strategies of charging consumers a lower price for advance sales and attaching a price premium at the date of consumption versus charging them a premium and promising a refund should consumption prices be lower than what was purchased. Despite these models that aim to capture primitive advance demand behaviour, there has not been much effort to integrate them into a unified framework, nor have there been any attempts to bridge the behavioural aspects of demand with revenue management research. Models of the former capture individual consumer behaviour (or homogeneous consumer segments) and it was difficult to see how that could be aggregated and applied to revenue management that mostly dealt Overbooking, cancellations and no-shows Overbooking, is simply defined as a concept of accepting more reservations than the physical available capacity with the knowledge that some bookings will end up as a no-show, or cancellations furthermore, this serve as a hedge against early check outs, this is said in the literature that overbooking is one of the oldest form of RM tactics Karaesmen and van Ryzin, (2004). Overbooking is actually not a bad concept, but if not managed well, it could lead to overselling. Overselling happens when the number of arrivals exceeds the available room capacity. Authors have examined how hotels could secure themselves in other to avoid no-shows or cancellations by guests, through appropriate reservation policies, (Alstrup et al., (1986), Belobaba, (1989), Hersh and Ladany, (1978), Lieberman and Yechiali, (1978), Rothstein, (1971, 1974, 1985), Thompson, (1961), and Toh, (1985)) ———airlines. Under this strategy, the seller deliberately oversells capacity if high-paying consumers show up, even when capacity is already fully booked. The seller then cancels the sale to some low-paying customers while providing them with appropriate compensation. We derive a new rule to optimally allocate capacity to consumers when overselling is used, and show that overselling helps limit the potential yield and spoilage losses. Yield loss is reduced because the seller can capture more high-paying customers by compensating low-paying customers who give up their right to the product. Displacement analysis Displacement analysis has been a very challenging exercise for function room analysis. It is challenging to determine what to negotiate when considering booking a group with a significant lead time, because when compression does hit it is possible that more money could have been made by waiting and taking the last-minute groups that are willing to pay higher prices. But that requires hotels taking significant risks and gambles The concept of displacement is defined by Abbort and Lewry, (1991) is said to be â€Å"those prospective customers who are unable to obtain a higher rate because the rooms have already been booked by customers paying lower rate.† Furthermore, Biyalogorsky, (1999) added that displacement concept is â€Å"selling at a low price, and losing a better price later†. Displacement analysis is divided in to two parts, including; Primary displacement and Secondary displacement. Primary displacement is also known as the direct displacement, and these are those prospective guest who are willing to increase the room rate themselves just to get booked for a particular date of arrival but could not be booked due to the fact that the available rooms are already been booked by guests with lower rates. Secondly, the secondary displacement which is also known as indirect displacement and are said to be those subsequent rooms lost due to primary displacement. Example of this displacement analysis can be seen in appendix 1. Inventory control 1 The Mechanics of Inventory Control Distribution and Central Reservation Systems Traditional revenue management is intimately related with distribution and central reservation systems. Distribution and central reservation systems represent a broad and fascinating topic in their own right. An excellent high-level account of airline planning, marketing, and distribution activities and their relation to operations research can be found in Smith et al. (2001). Here we provide only sufficient background information to facilitate discussion of the main topic of this paper, revenue management. Forecasting Forecasting is an important strategy of RM in any organisation adopting its techniques; but it is particularly critical in hotel revenue management because of the direct influence forecasts have on the available room booking limits that determine hotel profits. Not surprisingly, forecasting is concurrent with the literature on overbooking because overbooking calculations depend on predictions of ultimate demand, cancellations, and no-shows. Demand forecasting Jauncey et al., (1995), Pak and Piersma, (2002), Kime, (1999), 2003), all agreed that forecasting is one of the key principles of revenue management. Jauncey et al., (1995), Donaghy et al., (1995, 1997), juxtaposed the effectiveness of a good RM system by adding that it should be able to predict demand conditions and fluctuations by analyzing reservation patterns, arrival, departures and a score of other demand characteristics. Recently, the following literatures by Anderson and Blair, (2004), Desiraju and Shugan, (1999) suggested that revenue management systems with forecasting algorithms are expensive to implement in real terms. Lahoti, (2002) added by saying that, a typical RM system costs between $1 million to $3 million and takes more than two years to implement. Moreover, research has proven and showed that these complex and sophisticated revenue management systems are not liable to mislead, deceive, or disappoint. In fact, Ng et al., (1999) added that, using the data of the pa st and sales department using present day information, conflicts often occur, and many revenue management tactics should employ some level of human intervention, in other words, making use of RM as a guide but human intervention is still relevant. Forecasting has four limitations, following the literatures by c.f. Chase, 1999; Lieberman, 1993; Relihan, 1989; Boyd, 2004; Desiraju and Shugan, 1999. Firstly, A proposition upon which forecasting is based or from which a forecasting conclusion is drawn, should be based on fundamental concepts of consumer behaviour, (Chase, 1999; Lieberman, 1993, Relihan, 1989). It will be of great importance to bring to revenue managers attention according to Carry, (2004) revenue manipulation and maximisation using forecast method. Consequently, this may not be a good indicator of the subsequent or present bookings, and cannot be determined by using only RM system by studying historical pattern of demand, because the reason why consumers act or react the way they do is just as important as how they are behaving. Secondly, forecasting tactic at its best when adopted is still a combination segments that could, if possible, be desegregated for higher revenue. Thirdly, demand records are subject to m any factors, including the pricing strategies of the existing competitors at that time. We can only assume and predict based on the historical data. Finally, demand can be influenced, not merely be known. As early as 1951, Schumpeter, (1951), Liebhafsky, (1968) said that wants cannot be taken as independent and consumers could be taught by producers to want new things. Figure 1 duration price fixedvariable predictableQuadrant 1MoviesStadiums and arenasConvention centres Quadrant 2HotelsAirlinesRental cars Cruise lines unpredictableQuadrant 3RestaurantsGolf CoursesInternet service providers Quadrant4Continuing careHospitals (Kimes. 2000. p.127) The industries found in quadrant 2, such as airlines and hotels, are generally those associated with RM, Weatherford et al., (2001). That is because these industries tend to use variable pricing for services with a specified or predictable duration. Nevertheless, Donaghy and McMahon (1995) state that a successful application of RM techniques results in fluctuating room prices. RM therefore, consists of not two, but three separate, interrelated parts; inventory management, duration control, and pricing. BIBLIOGRAPHY Abbott, P. and Lewry, S. (1991) Front Office Procedures, Social Skills and Management. Oxford: Butterworth-Heinemann. Bitran, G. and Caldentey, R. (2003). â€Å"An Overview of Pricing Models for Revenue Management†. Manufacturing and Service Operations Management, Vol. 5, No. 3, pp. 203-229 Chang, Y.N and Chanpo-Flores, F.C (1980). Business policy and strategy: text and cases. Goodyear pub. Co: Santa Monica, Calif Chase Jr., C.W. (1999) â€Å"Revenue management: A review’, Journal of Business Forecasting Methods and Systems, Vol. 18, pp.2 28. Choi, T.Y., Cho, V., 2000. Toward a knowledge discovery framework for yield management in the Hong Kong hotel industry. International Journal of Hospitality Management 19 (1), 17–31. Choi, S., Mattila, A.S., 2004. Hotel revenue management and its impact on customers’ perception of fairness. Journal of Revenue and Pricing Management 2 (4), 303–314. Cross, R.G., (1992). The ethics of yield management. In: Davis, D.T., Harless, M. (Eds.), Ethics in Hospitality Management. Educational Institute Of American Hotel Motel Association, Michigan, pp. 235–248. Cross, R. G (1997). Revenue Management: Hard-Core Tactics for profit making and Market domination. Broadway books: New York, NY Donaghy Kevin , Una McMahon and McDowell David (1995). â€Å"Yield Management: An overview†: Intenational Journal of Hospitality Management. 14. 139-150 Donaghy, K., McMahon, U. and McDowell, D. (1997) Implementing Yield Management : Lesson from the Hotel Sector, International Journal of Contemporary Hospitality Management., 9 (2), pp. 50-54. Donaghy, K and McMahon, U, (1995).†Managing Yield: A Marketing Perspective†, Journal of Vacation Marketing, Vol. 2, No. 1, pp 55 – 62 Fitzsimmons, J.A., Fitzsimmons, M.J., 1998. Service Management. McGraw-Hill, Singapore. Griffin,R.K (1995). ‘A categorization scheme for critical success factor for lodging yield management systems’. International Journal of Hospitality management. 4, 325-338 Hiemstra, S.J., 1999. Economic pricing strategies for hotels. In: Thomas, B., Ram, M. (Eds.), Economic and Management Methods for Tourism and Hospitality Research. Wiley, West Sussex, pp. 215–231. Jarvis, N, Lindh, A and Jones, P(1998). ‘An investigation of the key criteria affecting the adoption of yield management in UK hotels’. Progress in Tourism and Hospitality Research 4, 207-216 Jauncey, S., I. Mitchell, and Slamet, P. (1995) The Meaning and Management of Yield in Hotels, International Journal of Contemporary Hospitality Management, 7 (4), pp. 23-26. Jones, P and Lockwood, A (1989). The management of hotel operations. Casell Education Ltd: London. Jones, P. and Hamilton, D, (1992).† Yield Management: Putting People in Big Picture†, Cornell Hotel and Restaurant Administration Quarterly, February, pp 89-96. Karaesmen, I., and van Ryzin, G. (2004) Overbooking with Substitutable Inventory Classes, Operations Research, Columbia University, New York, NY, 52 (1), pp. 83-104. Kimes,S.E, (1989), ‘Yield Management a tool for capacity constrained service firms’. Journals of Operations Management8.(4), 348-63. Kimes S.E. (1997), Yield Management: An Overview, in I. Yeoman. and A. Ingold (eds.), Yield Management: ‘Strategies for the Service Industries’. Cassell:London Kimes S.E, 1997. ‘Yield Management: An overview’ in Yeoman, I and Ingold, A (eds), Yield management: Strategies for service industries. Cassel Education Ltd: London. 3-11. Kimes, S, (1989a). â€Å"The Basic of Yield Management†, Cornell Hotel and Restaurant Administration Quarterly, November, pp 14 – 19. Kimes, S.E., 1989b. The basics of yield management. The Cornell H.R.A. Quarterly 30 (3), 14–19. Kimes, S.E., 1989c. Yield management: a tool for capacity-constrained service firms. Journal of Operations Management, 8 (4), 348–363; In: Lovelock, C. (Ed.), 1992. Managing Services. Prentice Hall, New Jersey, pp. 188–201. Kimes, S, (1994). â€Å" Perceived Fairness of Yield Management†, Cornell Hotel and Restaurant Administration Quarterly, February, pp 22 – 29. Kimes, S, (2000). â€Å"Revenue Management on the Links: Applying Yield Management to the Golf-Course Industry†, Cornell Hotel and Restaurant Administration Quarterly, Vol. 41, No. 1, pp 120 – 127. Kimes, S. (2002). â€Å"A Retrospective Commentary on Discounting in the Hotel Industry: A New Approach†. Cornell Hotel and Restaurant Administration Quarterly, August, pp. 92-93. Lee-Ross, D. and Johns, N, (1997). †Yield Management in Hospitality SMEs†, International Journal of Contemporary Hospitality Management, pp. 66-69. Lieberman, W.H, (1993). Debunking the myth of yield management. The Cornell HRA quarterly 34(1). 34-41 Lieberman, V., and Yechiali, U. (1978) On the Hotel Overbooking Problem: An Inventory Problem with Stochastic Cancellations, Management Science, 24, pp. 1117-1126. Liberman V. and Yechiali U., (1977). â€Å"Hotel Overbooking Problem—Inventory System with Stochastic Cancellations,† Adv. Appl. Probab. 9, 220 –230 Lieberman, W.H. (1993) ‘Debunking the myths of yield management’, Cornell Hotel and Restaurant Administration Quarterly, Vol. 34, pp.34-41. Liebhafsky, H. H. (1968) The Nature of Price Theory (Revised Edition). The Dorsey Press, Inc., Homewood. Lockwood, A. and Jones, P. (1990). â€Å"Applying value engineering to rooms management†. International Journal of Contemporary Hospitality Management,Vol.2, pp. 27-32. McMahon-Beattie, U., Donaghy, K and Yeoman, I. (1999). â€Å"Yield Management in Hotels†. In Constantinos, S. and Wood, R.C. (Eds.). Accommodation Management Perspectives from the International Hotel Industry. UK: International Thomson Business Press. Orkin, E.B, (1990). â€Å"Strategies for managing transient rate†. The Cornell HRA quarterly. 30, 34-39. Relihan III, W.J, (1989). â€Å"The yield management approach to hotel room pricing†. The Cornell HRA quarterly. 30 (1). 40-45 Rothstein, M. (1971). â€Å"An Airline Overbooking Model†, Transportation Science, Vol. 5. Issue 2, pp. 180- 192. Rothstein, M. (1975). â€Å"Airline Overbooking: Fresh Approaches Are Needed†, Transportation Science, Vol. 9. Issue 2, pp. 169-173. Rothestein, M. (1974). â€Å"Hotel Overbooking as a Markovian Sequential Decision Process,† Decision Sci. 5, 389 – 404 Salomon .A.(1990). yield management. Leaders shed light on the â€Å"dark science† Hotel and motel management part 205, 85 and 88 Schumpeter, J. A. (1951) Economic Theory and Entrepreneurial History. In R. V. Clemence (eds), Essays on Economic Topics of Joseph Schumpeter, Port Washington, NY: Kennikat Press. Siguaw, J., Kimes, S, and Gassenheimer, J. (2001). â€Å"B2B Sales Force Productivity: Applications of Revenue Management Strategies to Sales Management†. Industrial Marketing Management, No. 32. pp. 539- 551. Subramanian, J., Lautenbacher, C. J. and Stidham, S. J. (1999). â€Å"Yield Management with Overbooking, Cancellations and No Shows,† Transp. Sci. 33, 147–167 Vinod, B. (2004). â€Å"Unlocking the Value of Revenue Management in the Hotel Industry†. Journal of Revenue and Pricing Management, Vol. 3, No. 2, pp. 178-190. Wang, X.L., Mitchell, I. (2001), ‘Yield management: not only yield from capacity, but also your customers’, 10th Council for Hospitality Management Education conference proceeding, Southbank University: London Weatherford, L. (2003). â€Å"Disappeared Fares Within a Fare Class: How Can the Reality be Harnessed?† Journal of Pricing and Revenue Management, Vol. 3. No. 1, pp. 26-40. Weatherford, L. R., and Bodily, S. E. (1992) A Taxonomy and Research Overview of Perishable-Asset Revenue Management: Yield Management, Overbooking, and Pricing, Operations Research, 40, pp. 831–844. Wirtz, J., Kimes, S., Ho, J. and Patterson, P. (2003), â€Å"Revenue management: resolving potential customer conflicts†, Journal of Revenue and Pricing Management, Vol. 2 No. 3, pp. 216-26.Yeoman, I., Watson, S., 1997. Yield management: a human activity system. International Journal of Contemporary Hospitality Management 9 (2), 80–83. [/level-freee-rstricted] How to cite Evaluation of revenue management application in Nigerian hotels., Essay examples

Organisational Behaviour and Design

Question: Discuss about theOrganisational Behaviour and Design. Answer: Introduction: Workforce diversity recognizes the truth that every individual is different from other in many ways, visible or invisible. The diversity comes mainly in age, gender, sexual orientation, personal values and beliefs, personality, ethnicity, etc. Most of the contemporary business organizations face the gender and age diversity in the workforce. A diverse workforce encompasses varieties of values and beliefs and unique information. Managing diversity in workforce is one the challenging task in the present business organization. The human resource management professionals should posses the skills and knowledge of effective utilization of diverse workforce. The business organizations are changing and its not only about technology or globalization. This change will be a remarkable as the change is the human resource of an organization which will have impact on organizations values and culture. This essay aims at the study of organizational behaviour, attitudes and expectations of baby boome rs and millennial in the contemporary workplace. The study will compare and contrast with the emerging age discrimination environment in organizational and its performance consequences. Before proceeding further, it is important to understand about Baby Boomers and Millennial. Baby Boomers: The term Baby Boomers can simply explain as the person who is born after the Second World War i.e. during 1946-1964. According to a recent study, baby boomers constitute 44.6 million total global workforces. The present age group of baby boomers ranges between 52 to 70 years. This group cannot be categorized as passive unlike the generation before them, The Silent Generation. Rather, they are highly defined by their purpose with high expectations and pushing had attitude to achieve their goals. The baby boomers are the largest active workforce generation at present. Studies show that these generations recognize their strength as organizational memory, optimism and enthusiasm for long working hours (Zolkos, 2014). They are more comfortable or familiar with organizational hierarchies and taking orders on top down management systems. These generations are often associated with social and economic change. How Baby Boomers Affect Workplace: The baby boomers are extremely diligent and stimulated by promotions, benefits and reputation in work place. They are generally goal oriented and believe in long working weeks. They are extremely committed and ethical towards their job duties and responsibilities. They believe in change and reformation and are not afraid to question established authority or practices. The baby boomers are the hardest working professionals when it comes for job performance. Although most of the professionals in this generation find it hard to adapt in changing cross culture work diversity in organizations, although they are excellent team players. Also, they are less likely to adapt to the technological advancements in the organizational operations systems. Baby boomers believe in consensual and collegial leadership style in workplace (Cates, et al. 2013). They are generally motivated by financial rewards, position and recognition in the organization. The Millennials: Millennial can simply explained as an individual who is born between 1980- early 2000. According to William Strauss, a famous American historian, the millennial are the next great generation (Cahill, Sedrak, 2012). The current age group of the millennials ranges from 36 to 16 years of age. The present population size of millennials is 75 million globally. Millennials are generally high in confidence and with higher expectations. How Millennials affect Workplace: This generation is generally the only child of their parents so receiving ample attention and support for growth and development. They are generally with greater expectation and higher self confidence, adds value to any organization (Stein, 2013). The millennials are not afraid of failures and learning new skills and abilities and setting higher standards to achieve. This generation is much more flexible compared to other older generations and believe in multi tasking in life. This group are team players and grew up in the age of globalization and multi-cultures as a result it is easy for a millennials to communicate and work in cross cultural working environment (Stein, Sanburn, 2013). They are highly compatible to technology and stay connected 24*7 as a result they needs constant feedback from their superiors and subordinates. They are motivated by innovation and development, recognition and quick progress. Even though this generation are little in patience and looks for immediate feedback and results for their hard work. Millennials often engage in interactive feedback sessions for sharing ideas and reactions for organizational objective and performance (Smith Turner, 2015). Conflict of Generations in Workforce: As there is rise in multiple generations forming up contemporary business organization, difference and conflicts are common especially when it comes to managing both baby boomers and millennials. In the multi generation workplace, every generation brings special skills and abilities in the workplace. It is in the best interest of an organization to manage and utilize the multi generational workforce. Attitude Towards Job Roles and Responsibilities: One of the most common generation conflicts in organizations is probably the declining work ethics. It is often observed that the committed and workaholic baby boomers who also happen to constitute 66% of the executive ranks in business organizations globally complain about lack of seriousness and commitment in millennials towards the millennials. While younger generations, the millennials believe in more balance in personal and professional life. But according to various studies, it does not support the decline in work ethics rather its the perspective as to how hard an individual works can also be connected with how one themselves approach responsibilities also (Ng, et al. 2012). For instance, the younger millennials focuses on productive results of a task or job managing flexible time and place of work, whereas, baby boomers are more comfortable with processed oriented jobs and responsibilities. So, there is a basic difference in the attitude towards work flow process and job resp onsibility between millennials and baby boomers. Leadership Styles: One of the main factors that distinguish millennials from other generations is that they are least concerned about money and position rather they are motivated by empowerment, collaboration and transformation in work processes. As, they are not money oriented, the millennials often challenge the present leadership styles in organizations. However, they desire to be leaders to motivate others, more responsible towards society and guide organizations that are more socially responsible (Workplacetrends.com, 2016). Most millennials reject the traditional hierarchical authority in organizations and their idea of leadership and authority is more expansive. They are more comfortable with flat organizational structure, where communication and relationship bonding among employee are at its finest. In a recent survey it was observed that more than 63% of the millennials professional want to be part of an organization where the leadership style should be to motivate and inspire others. While th e younger generation believes in intergraded and corporative workforce with potential for both personal and professional growth and development, the older generation, baby boomers often complain about the lack of respect towards management and workplace (Chi, et al. 2013). The millennials wants equal respect and importance for all in workplace but baby boomers demands respect from the subordinates according to positions and authority. Traning Styles: Every individual have different preferred style of learning. Same applies for the different generations in workplace. Most of the baby boomers prefer to learn soft skills on job and hard skills through class room training programs. On the other hand the millennial prefers to learn both soft and hard skills on the jobs. The millennials have the advantage of being tech savvy so it is easy for them to adapt with transforming technological improvements in the work flow processes (Espinoza Ukleja, 2016). The baby boomers needs throughout training process to adapt new techniquel advancements. They were generally taught in a linear learning style, whereas, millennials are taught in most constructive learning process with more freedom and analytical abilities. So, there is a constant need of training and development for millennials whereas the baby boomers needs training only when there is a new and changed in work process. Managing Generations in Workplace: In the multi generational workplace, the most crucial challenge of a manager is to combine different generations and bring unique potency to workplace (Ali, et al. 2015). But with more number of millinneals taking up leadership positions, the possibility of workplace conflicts is increasing abruptly. The baby boomers who are still working are rich in practical experience but lacks technological knowledge, flexibility and compliance of millennials. As the business organizations are becoming technologically innovative and knowledge based, organizations are opting for tech savvy and flexible millennials but as there is a lack training and mentorship that millennials consider very valuable, there is a lack of coordination and conflict between generations in business organizations (Schultz et al. 2012). Business organizations have to adjust by integrating understanding, mentoring, and training and sustain to help moderate conflict between different generations and work together (Hays, 201 4). Strategic planning in management and supervisory practices are the key to sustainable growth in multi generation workforce. Although there are difference and similarities among baby boomers and millennials, an effective communication is important for well-organized management of multi generation workforce. Although some practices might require containing differences, guiding principle should be functional in spite of differences. For instance, irrespective of age all employees are bound to follow organizational policies. Moreover, agreed upon that workforces have diverse work and communication styles, it is essential to be conscious of, value, and work contained by these differences. The advantages of sympathetic and adopting styles for managing such dissimilarity will show the way to positive results, and assist leaders successfully supervise what behaviours will be reinforced or punished and what behaviours should be tolerated or rejected. Recommendations: There is no complete and successful guideline about effective management of generational difference; rather it is a learning process which changes according to change in technology, work cultures, diverse workforce and socio-cultural influence. After reviewing literature from different sources, the following are some recommendations that the author wants to suggest for effective management of gender diversity in workforce. Every generation has some unique set of skills and abilities that the others do not possess. So, it is important to set a clear goal and responsibilities for each generation are necessary to resolve conflicts without hampering enthusiasm. The management should strategically mentor and include different generations to guide and motivate others. As each generation has unique skills and abilities, the management should start recognizing them and utilize to educate and upgrade the individuals who lacks them (Dwyer Azevedo, 2016). Also, employees perform well when included rather than excluded. So, inclusion is equal to team work which leads to organizational proactiveness. The management should present a clear picture about the organizational goals and what is the role of each individual in organizational success. The employees should feel and see the importance of him in the organization and what can be achieved. Employees trends to perform harder when they understand organizational goal and how organizational achievement can lead to success of personal objectives (Wesolowski, 2014). Conclusion: In the contemporary age of globalization, multigenerational employees bring a varied range of challenges and scopes. It is the duty of contemporary managers to take the initiative to assists organizations to rise above growing challenges and bring potential organizational performance and achievement for sustainability and growth. Irrespective of age, all employees should be encouraged to recognize and value others values and beliefs and the management should assists for better communication among different generations which will ultimately decrease the gap and focus on common values and expectations. A further study on managerial strategies for diverse generational workforce will be of enormous significance for the field of study. Reference: Ali, M., Metz, I., Kulik, C. T. (2015). Retaining a diverse workforce: The impact of gender-focused human resource management: Retaining a diverse workforce.Human Resource Management Journal,, n/a. doi:10.1111/1748-8583.12079 Cahill, T. F., Sedrak, M. (2012). Leading a multigenerational workforce: Strategies for attracting and retaining millennials.Frontiers of Health Services Management,29(1), 3. Cates, S. V., Cojanu, K. A., Pettine, S. (2013). Can you lead effectively? An analysis of the leadership styles of four generations of American employees.International Review of Management and Business Research,2(4), 1025. Chi, C. G., Maier, T. A., Gursoy, D. (2013). Employees perceptions of younger and older managers by generation and job category.International Journal of Hospitality Management,34, 42-50. Dwyer, R. J., Azevedo, A. (2016). Preparing leaders for the multi-generational workforce.Journal of Enterprising Communities: People and Places in the Global Economy,10(3), 281-305. doi:10.1108/JEC-08-2013-0025 Espinoza, C., Ukleja, M. (2016).Managing the Millennials: Discover the core competencies for managing today's workforce. John Wiley Sons. Hays, D. W. (2014). Examining Differences between Millennial and All Employee Levels of Job Satisfaction and Importance and Satisfaction with the Immediate Supervisor Relationship.International Journal of Management Studies and Research,2(8), 1-7. Ng, E., Lyons, S. T., Schweitzer, L. (Eds.). (2012).Managing the new workforce: International perspectives on the millennial generation. Edward Elgar Publishing. Schultz, R. J., Schwepker, C. H., Davidson, M., Davidson, P. (2012). Boomers vs. Millennials: Critical conflict regarding sales culture, salesforce recognition, and supervisor expectations.International Journal of Business, Humanities and Technology,2(1), 32-41. Smith, C., Turner, S. (2015). The radical transformation of diversity and inclusion: The millennial influence. Stein, J. (2013). Millennials: The me me me generation.Time Magazine,20. Stein, J., Sanburn, J. (2013). Why millennials will save us all.Time,181(19), 26-34. Wesolowski, P. (2014). Melding a multi-generational workforce.Human Resource Management International Digest,22(2), 33-35. doi:10.1108/HRMID-04-2014-0041 Workplacetrends.com, (2016). The Millennial Leadership Survey. [online] Workplacetrends.com. Available at: https://workplacetrends.com/the-millennial-leadership-survey/ [Accessed 10 Oct. 2016]. Zolkos, R. (2014). Baby boomer retirements strain workforce strategies; spencer educational foundation helps groom young risk managers.Business Insurance,48(20), 32.