Managing Seasonality in Tourism : Challenges and Opportunities for the Tourism Industry in H��sav��k, Iceland

Seasonality is a common phenomenon in the tourism industry around the world. H��sav��k, a town on the northern coast of Iceland, has experienced tremendous growth in tourism in recent years and is sometimes recognised as the ���Whale Watching Capital of Europe���. However, H��sav��k faces extreme seasonality with high demand mainly during the summer months and limited or no demand at other times of the year. As is emphasised in the tourism literature and widely in practice, seasonality is frequently seen as a problem for the tourism industry which has to be tackled. Academic research has never before been done on seasonality in H��sav��k and the aim of this thesis is to understand the nature of seasonality within the tourism industry in H��sav��k and discover potential ways to reduce seasonality in H��sav��k tourism. In order to fulfil the aim, qualitative semi-structured interviews were undertaken with six tourism managers in H��sav��k to investigate their perceptions of seasonality and if and how it could be managed. The results confirmed that the peripheral location of the destination stimulates seasonality and it poses major economic challenges for tourism businesses in H��sav��k. Managers would prefer a longer tourism season. Several recommendations were provided for how to reduce seasonality such as develop other attractions than whale watching, improve accessibility, focus marketing on seasons outside the summer, and offer winter packages for foreign and domestic tourists.

Analysis of the restructuring of the Russian defence industry (by the example of aviation industry and knaapo) and the creation of United Aviation Construction Corporation

The present study is focused on the analysis of the three main governmental measures occurred in 2000-2006 in Russian defense industry: the creation of the holding structures, the establishing of the state monopoly in arms export, and creation of the United Aviation Construction Corporation (Ob��edinennaya Aviastroitel��naya Corporatziya), which was initiated by the President and Government of Russian Federation in 2006. The last project assumes the consolidation and joining of all producers of civil and military aviation into one united corporation in order to save the technological and productive potential of the sector after serious crisis in 1990-s. On the other hand, this project can be considered as one of the measures to establish state control and hierarchy in the defense industry. The current project tries to analyze the necessity and the possible impacts of restructuring processes. In order to perform such analysis, I need to observe the evolution of the sector, which involves the description of the restructuring and reforming of the industry since the disintegration of the Soviet Union. The current situation in aviation sector was shaped by number of reforms performed by Government of Russian Federation, which I describe in phases: conversion, privatization, decentralization, followed by evident desire of the state to establish control over some companies. Later on, I am trying to understand the reasons lying behind all reforms of 2000-2006 and the integration of the industry. I also try to predict which impacts on the companies it will have. The last part presents the main conclusions of the paper.

The development of the private equity industry since the 2008 financial crisis

The private equity industry was experiencing a phenomenal boom at the turn of the century but collapsed abruptly in 2008 with the onset of the financial crisis. Considered one of the worst crises since the Great Depression of the 1930s, it had sent ripples around the world threatening the collapse of financial institutions and provoking a liquidity crunch followed by a huge downturn in economic activity and recession. Furthermore, the physiognomy of the financial landscape had considerably altered with banks retracting from the lending space, accompanied by a hardening of financial regulation that sought to better contain systemic risk. Given the new set of changes and challenges that had arisen from this period of financial turmoil, private equity found itself having to question current practices and methods of operation in order to adjust to the harsh realities of a new post-apocalyptic world. Consequently, this paper goes on to explore how the private equity business, management and operation model has evolved since the credit crunch with a specific focus on mature markets such as the United States and Europe. More specifically, this paper will aim to gather insights on the development of the industry since the crisis in Western Europe through a case study approach using as a base interviews with professionals working in the industry and those external to the sector but who have/have had considerable interaction with PE players from 2007 to the present.

The software and information technology services industry: An opportunity for the economic autonomy of women in Latin America

The objective of this report is to understand the rationality that underpins public and business policies for promoting the IT and SIS industries and to determine whether they incorporate gender equality and/or provide incentives for women���s participation. The report also explores how this group of women is symbolically constructed within the firms, what issues are emphasized by the women themselves and what solutions or resources they propose for overcoming the problems. It then contrasts this discourse and intervention with the experiences, visions and demands of women leaders in the SIS sector. For this purpose, the policies, programmes and best practices of Europe are analysed and compared with instruments currently in place in Latin America and the Caribbean, in terms of their specific characteristics and degree of progress. Special attention is given to the cases of Argentina, Costa Rica and Colombia.

Pilot Studies for Development of an HIV Subtype Panel for Surveillance of Global Diversity

The continued global spread and evolution of HIV diversity pose significant challenges to diagnostics and vaccine strategies. NIAID partnered with the FDA, WRAIR, academia, and industry to form a Viral Panel Working Group to design and prepare a panel of well-characterized current and diverse HIV isolates. Plasma samples that had screened positive for HIV infection and had evidence of recently acquired infection were donated by blood centers in North and South America, Europe, and Africa. A total of 80 plasma samples were tested by quantitative nucleic acid tests, p24 antigen, EIA, and Western blot to assign a Fiebig stage indicative of approximate time from initial infection. Evaluation of viral load using FDA-cleared assays showed excellent concordance when subtype B virus was tested, but lower correlations for subtype C. Plasma samples were cocultivated with phytohemagglutinin (PHA)-stimulated peripheral blood mononuclear cells (PBMCs) from normal donors to generate 30 viral isolates (50-80% success rate for samples with viral load >10,000 copies/ml), which were then expanded to 10(7)-10(9) virus copies per ml. Analysis of env sequences showed that sequences derived from cultured PBMCs were not distinguishable from those obtained from the original plasma. The pilot collection includes 30 isolates representing subtypes B, C, B/F, CRF04_cpx, and CRF02_AG. These studies will serve as a basis for the development of a comprehensive panel of highly characterized viral isolates that reflects the current dynamic and complex HIV epidemic, and will be made available through the External Quality Assurance Program Oversight Laboratory (EQAPOL).

The impact of R&D in firm value across Europe

In this thesis the impact of R&D expenditures on firm market value and stock returns is examined. This is performed in a sample of European listed firms for the period 2000-2009. I apply different linear and GMM econometric estimations for testing the impact of R&D on market prices and construct country portfolios based on firms��� R&D expenditure to market capitalization ratio for studying the effect of R&D on stock returns. The results confirm that more innovative firms have a better market valuation,investors consider R&D as an asset that produces long-term benefits for corporations. The impact of R&D on firm value differs across countries. It is significantly modulated by the financial and legal environment where firms operate. Other firm and industry characteristics seem to play a determinant role when investors value R&D. First, only larger firms with lower financial leverage that operate in highly innovative sectors decide to disclose their R&D investment. Second, the markets assign a premium to small firms, which operate in hi-tech sectors compared to larger enterprises for low-tech industries. On the other hand, I provide empirical evidence indicating that generally highly R&D-intensive firms may enhance mispricing problems related to firm valuation. As R&D contributes to the estimation of future stock returns, portfolios that comprise high R&D-intensive stocks may earn significant excess returns compared to the less innovative after controlling for size and book-to-market risk. Further, the most innovative firms are generally more risky in terms of stock volatility but not systematically more risky than low-tech firms. Firms that operate in Continental Europe suffer more mispricing compared to Anglo-Saxon peers but the former are less volatile, other things being equal. The sectors where firms operate are determinant even for the impact of R&D on stock returns; this effect is much stronger in hi-tech industries.

Transatlantic negotiations on "hell"?: W. E. B. Du Bois's visit to fascist Germany and Theodor W. Adorno's exile in the land of the culture industry

In 1936, the African-American intellectual W.E.B. Du Bois visited Nazi Germany for a period of five months. Two years later, the eleven-year-long American exile of the German philosopher Theodor W. Adorno began. From the latter���s perspective, the United States was the ���home��� of the Culture Industry. One intuitively assumes that these sojourns abroad must have amounted to ���hell on earth��� for both the civil rights activist W.E.B. Du Bois and the subtle intellectual Adorno. But was this really the case? Or did they perhaps arrive at totally different conclusions? This thesis deals with these questions and attempts to make sense of the experiences of both men. By way of a systematic and comparative analysis of published texts, hitherto unpublished documents and secondary literature, this dissertation first contextualizes Du Bois���s and Adorno���s transatlantic negotiations and then depicts them. The panoply of topics with which both men concerned themselves was diverse. In Du Bois���s case it encompassed Europe, science and technology, Wagner operas, the Olympics, industrial education, race relations, National Socialism and the German Africanist Diedrich Westermann. The opinion pieces which Du Bois wrote for the newspaper ���Pittsburgh Courier��� during his stay in Germany serve as a major source for this thesis. In his writings on America, Adorno concentrated on what he regarded as the universally victorious Enlightenment and the predominance of mass culture. This investigation also sheds light on the correspondences between the philosopher and Max Horkheimer, Thomas Mann, Walter Benjamin, Siegfried Kracauer and Oskar and Maria Wiesengrund. In these autobiographical texts, Adorno���s thoughts revolve around such diverse topics as the American landscape, his fears as German, Jew and Left-Hegelian as well as the loneliness of the refugee. This dissertation has to refute the intuitive assumption that Du Bois���s and Adorno���s experiences abroad were horrible events for them. Both men judged the foreign countries in which they were staying in an extremely differentiated and subtle manner. Du Bois, for example, was not racially discriminated against in Germany. He was also delighted by the country���s rich cultural offerings. Adorno, for his part, praised the U.S.���s humanity of everyday life and democratic spirit. In short: Although both men partly did have to deal with utterly negative experiences, the metaphor of ���hell on earth��� is simply untenable as an overall conclusion.

The Man-Made Environment in Post-Stalinist Europe 1953-1968

This project looked at the various responses, both political and aesthetic, to the end of socialist realism and the return of pre-war modernism as a desirable ideal. It considered both the built environment and objects of daily use (furniture, radios, TV sets, etc.) in several countries of the region, including Estonia, Hungary, Poland, Russia and Romania, also comparing developments there with corresponding ones in the west. Among particular aspects considered were the effects of Kruschev's speech in December 1954 to workers in construction, machine-building and design industries, in which he argued against monumentalism and criticised both "classical architecture" and socialist realism. The team see the real issue in interpreting Eastern European architecture as its lack of a critical edge, since official discourses took the place of any form of criticism and architects sought to implement the "official line". Megastructures became increasingly popular from the 1960s onwards and in Romania, for instance, came to dominate the city in the late 1980s. Such structures proved an efficient way to control the environment in countries plagued by prefabrication and social housing, and the group see the exhibition of inflated concrete grids as perhaps the most important feature of Eastern European architecture in the 1960s and 1970s. They also point out the rarity of glass and steel architecture in the east, where the preferred material was concrete, a material seen as "revolutionary" as it was the product of heavy industry and was grey, i.e. the workers' colour. Tactile elements were more important here than the visual elements favoured in the west, and a solidity more in line with the dominant ideology than the ephemeral qualities of glass.

Managerial perseptions on corporate social responsbility: A Transatlantic comparison between forest products companies in Europe and North America

Corporate Social Responsibility (CSR) addresses the responsibility of companies for their impacts on society. The concept of strategic CSR is becoming increasingly mainstreamed in the forest industry, but there is, however, little consensus on the definition and implementation of CSR. The objective of this research is to build knowledge on the characteristics of CSR and to provide insights on the emerging trend to increase the credibility and legitimacy of CSR through standardization. The study explores how the sustainability managers of European and North American forest companies perceive CSR and the recently released ISO 26000 guidance standard on social responsibility. The conclusions were drawn from an analysis of two data sets; multivariate survey data based on one subset of 30 European and 13 North American responses, and data obtained through in-depth interviewing of 10 sustainability managers that volunteered for an hour long phone discussion about social responsibility practices at their company. The analysis concluded that there are no major differences in the characteristics of cross-Atlantic CSR. Hence, the results were consistent with previous research that suggests that CSR is a case- and company-specific concept. Regarding the components of CSR, environmental issues and organizational governance were key priorities in both regions. Consumer issues, human rights, and financial issues were among the least addressed categories. The study reveals that there are varying perceptions on the ISO 26000 guidance standard, both positive and negative. Moreover, sustainability managers of European and North American forest companies are still uncertain regarding the applicability of the ISO 26000 guidance standard to the forest industry. This study is among the first to provide a preliminary review of the practical implications of the ISO 26000 standard in the forest sector. The results may be utilized by sustainability managers interested in the best practices on CSR, and also by a variety of forest industrial stakeholders interested in the practical outcomes of the long-lasting CSR debate.

Decentralized or centralized production : impacts to the environment, industry, and the economy

Since product take-back is mandated in Europe, and has effects for producers worldwide including the U.S., designing efficient forward and reverse supply chain networks is becoming essential for business viability. Centralizing production facilities may reduce costs but perhaps not environmental impacts. Decentralizing a supply chain may reduce transportation environmental impacts but increase capital costs. Facility location strategies of centralization or decentralization are tested for companies with supply chains that both take back and manufacture products. Decentralized and centralized production systems have different effects on the environment, industry and the economy. Decentralized production systems cluster suppliers within the geographical market region that the system serves. Centralized production systems have many suppliers spread out that meet all market demand. The point of this research is to help further the understanding of company decision-makers about impacts to the environment and costs when choosing a decentralized or centralized supply chain organizational strategy. This research explores; what degree of centralization for a supply chain makes the most financial and environmental sense for siting facilities; and which factories are in the best location to handle the financial and environmental impacts of particular processing steps needed for product manufacture. This research considered two examples of facility location for supply chains when products are taken back; the theoretical case involved shoe resoling and a real world case study considered the location of operations for a company that reclaims multiple products for use as material inputs. For the theoretical example a centralized strategy to facility location was optimal: whereas for the case study a decentralized strategy to facility location was best. In conclusion, it is not possible to say that a centralized or decentralized strategy to facility location is in general best for a company that takes back products. Each company���s specific concerns, needs, and supply chain details will determine which degree of centralization creates the optimal strategy for siting their facilities.

Our Lives, Our Thoughts and Our Allegiance: New Immigrants and American Industry in 1914

Through comparative analysis of the immigrant labor forces at work in iron mining in northern Minnesota, coal mining in Illinois, and steel milling in the Calumet region of Chicago and Gary, this paper addresses the forms of social distance separating and marginalizing new immigrants from American society and trade unionism that existed in 1914, the year that marked the end point of mass immigration from Eastern and Southern Europe. The ���new immigration��� was a labor migration that congregated its subjects overwhelmingly in what were called "unskilled" or "semi-skilled" forms of labor. Skilled work was largely, with certain variations, the preserve of "American" or old immigrant workers. This labor gulf separating new immigrants and American workers was hardened by a spatial separateness. New immigrants often lived in what have been called industrial villages���the mining town or location, the factory neighborhood��� striking in their isolation and insularity from mainstream society. This separateness and insularity became a major preoccupation for corporate managers, Progressive reformers, and for American trade unions as new immigrants began to engage in major labor struggles leading up to 1914. But among the three industries, only the union of coal miners, the United Mine Workers, enjoyed success in organizing the new immigrants. In the steel mills and the iron mines, the unions were either rooted out or failed to gain a foothold at all. The explanation for these differences is to be found in the different forms of industrial development among the industries studied.

Regulations on E-Commerce Consumer Protection Rules in China and Europe Compared ��� Same Same but Different?

This article provides a comprehensive overview of the regulations on e-commerce protection rules in China and the European Union. It starts by giving a general overview of different approaches towards consumer protection in e-commerce. This article then scrutinizes the current legal system in China by mainly focusing on SAIC���s ���Interim Measures for the Administration of Online Commodity Trading and Relevant Service Activities���. The subsequent chapter covers the supervision of consumer protection in e-commerce in China, which covers both the regulatory objects of online commodity trading and the applied regulatory mechanisms. While the regulatory objects include operating agents, operating objects, operating behavior, electronic contracts, intellectual property and consumer protection, the regulatory mechanisms for e-commerce in China combines market mechanism and industry self-discipline under the government���s administrative regulation. Further, this article examines the current European legal system in online commodity trading. It outlines the aim and the scope of EU legislation in the respective field. Subsequently, the paper describes the European approach towards the supervision of consumer protection in e-commerce. As there is no central EU agency for consumer protection in e-commerce transactions, the EU stipulates a framework for Member States��� institutions, thereby creating a European supervisory network of Member States��� institutions and empowers private consumer organisations to supervise the market on their behalf. Moreover, the EU encourages the industry to self- or co-regulate e-commerce by providing incentives. Consequently, this article concludes that consumer protection may be achieved by different means and different systems. However, even though at first glance the Chinese and the European system appear to differ substantially, a closer look reveals tendencies of convergence between the two systems.

The diversity of activation markets in Europe

Purpose ��� The purpose of this article is to analyse the diversity of markets for the provision of activation services. Design/methodology/approach ��� The article is based on the outcomes of a project involving nine European countries. The project investigated changing forms of governance of income protection schemes and activation services for unemployed people. Diversity is investigated by focusing on five dimensions of diversity derived from the quasi���market concept as developed by Le Grand: the purchasers, the providers, the customers, the purchaser���provider split and the purchaser���customer split. Findings ��� The paper finds considerable diversity in the design of markets for the provision of activation. Diversity is visible in all dimensions involved in the analysis. One interesting finding is that a full split between purchasers and providers hardly exists, although some countries have introduced a stricter split than others. Another finding concerns the voice and choice of service consumers, which seems hardly affected by the introduction of market mechanisms in the provision of activation. Finally, marketisation does not seem to be an irreversible project, as de���marketisation processes were identified as well. Originality/value ��� Most current research into activation markets and their effects pays little attention to the issue of diversity in the design and functioning of markets. This article argues in favour of more systematic research of market diversity and of the variety of effects of various market models. Rather than comparing marketised with public service provision, a stronger focus on various market models may strengthen our insight into how service provision models affect the effectiveness of activation services.