HOSPITALITY IN THE GLOBAL VILLAGE The world has reduced to a global village. It is no more just defined by countries and continents. People are connected across the globe through the Internet and World Wide Web. On the Internet‚ physical distance is even less of a hindrance to the real-time communicative activities of people‚ and therefore social spheres are greatly expanded by the openness of the web and the ease at which people can search for online communities and interact with others
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Date The Economic Recession of 2007 to 2009 Recessions are a normal part of the business cycle‚ which constitutes of recurring expansion and contraction of the overall economic cycle associated with changes in employment‚ income‚ prices‚ sales and profits. A business cycle consists of four phases‚ which include peak‚ recession‚ trough‚ and expansion. Once an economy reaches the peak‚ which is the maximum point of economic growth‚ it contracts and initiates a period of recession. Some of the notable
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Developing Recession with Rising Unemployment The economy as we know it today is developing a recession with rising unemployment. The US economy has experienced a decrease in real output for one quarter and leading indicators point to continued contraction in the current quarter. The unemployment rate last month was 5.8% and is expected to rise above 6% in the current quarter. With strict discipline‚ we can utilize fiscal or monetary policy tools in order to bring this nation back to an equilibrium
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The role of banks in economic recessions 05.05.2009 In today’s wavering global economic context‚ the word `crisis` is omnipresent‚ taking the media by assault and infringing into the population’s daily life‚ although many countries haven’t even officially entered recession yet. Although recession is generally referred to as a negative Gross Domestic Product growth for a period of at least two consecutive quarters‚ other important economic
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Recession 16Specifically‚ Freund (2009) defines global downturns as years when world real GDP growth is (1) below 2 percent‚ (2) more than 1.5 percentage points below the previous five-year average‚ and (3) at its minimum relative to the previous two years and the following two years. 1975‚ 1982‚ 1991‚ 2001‚ and 2008 Freund (2009) describes the evolution of world trade following four previous global downturns. She finds that the size of the decline in world trade during these episodes is
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When did corrective actions begin? When President Barack Obama was sworn in on January 20‚ 2009 he brought with him a plan and an execution of ideas to bring the United States of America out of the Great Recession. This did not take just one or two plans; it took hundreds of acts‚ reforms‚ bills‚ and advice from the Department of Treasury. The American Recovery and Reinvestment Act of 2009 is the umbrella to all of these plans to push the United States of America into the right direction. The
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predicts a slowing in the growth of world population to about 0.33 percent per year by 2050‚ at which time forecasters are predicting that world population will total 8.9 billion persons (A global demographic…Mueller‚ Paige‚ Ball‚ Asli). The hospitality industry relies heavily on the younger generations to fill front-line and entry level positions therefore the diminishing percentile of youth in certain countries will hold negative consequences in coming years for companies who rely on their skills
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In The Odyssey the reader learns about what the Greek people valued by learning that they valued hospitality no matter who you are‚ and lineage. The story shows the reader that if someone is found in a situation in which they do not know someone‚ the host should be hospitable and help the stranger with what he or she needs. Also‚ the idea that where someone comes from‚ who their father is ‚ and who is their family is determines how they should act and what they are like. The Odyssey Shows many examples
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Current Great Recession (2009-2011) The Great Recession in the United States began in December 2007 and went on for year and a half. Over that period‚ U.S. genuine GDP fell by 4.7 for every penny‚ making the subsidence the longest and most profound since the Great Depression (Blinder & Zandi‚ 2010). U.S. private venture dove by nearly 60 for every penny from its crest in the final quarter of 2005 to its trough in mid-2011; as an offer of GDP‚ it dropped from 6.3 for each penny in the final quarter
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treat him like he is family‚ this concept is known as hospitality. In this epic poem this theme is constantly shown by some of the main characters and other characters too. Most forms of hospitality are good but at times there is also bad hospitality shown. Both positive and negative examples of hospitality exist in The Odyssey; Homer uses both these examples to suggest that good hospitality shows loyalty and nobility to others while bad hospitality shows that that person does not care about
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