Impact of Monetary Policy on Companies Profitability and Its Valuation Essay Example

Impact of Monetary Policy on Companies Profitability and Its Valuation Essay Meaning of monetary policy Monetary policy is the management of money supply and interest rates by central banks to influence prices and employment. Monetarypolicy works through expansion or contraction of investment and consumption expenditure. Monetary policy is the process by which the government, central bank (RBI in India), or monetary authority of a country controls : (i) The supply of money (ii) Availability of money (iii) Cost of money or rate of interest In order to attain a set of objectives oriented towards the growth and stability of the economy. Monetary theory provides insight into how to craft optimal monetary policy. Monetary policy is referred to as either being an expansionary policy, or a contractionary policy, where an expansionary policy increases the total supply of money in the economy, and a contractionary policy decreases the total money supply. Expansionary policy is traditionally used to combat unemployment in a recession by lowering interest rates, while contractionary policy involves raising interest rates in order to combat inflation. Monetary policy is contrasted with fiscal policy, which refers to government borrowing, spending and taxation. Credit policy is not only a policy concerned with changes in the supply of credit but it can be and is much more than this. Credit is not merely a matter of aggregate supply, but becomes more important factor since there is also issue of its allocation among competing users. There are various sources of credit and other aspects of credit that need to be looked into are its cost and other terms and conditions, duration, renewal, risk of default etc. We will write a custom essay sample on Impact of Monetary Policy on Companies Profitability and Its Valuation specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Impact of Monetary Policy on Companies Profitability and Its Valuation specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Impact of Monetary Policy on Companies Profitability and Its Valuation specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Thus the potential domain of credit policy is very wide. Where currency is under a monopoly of issuance, or where there is a regulated system of issuing currency through banks which are tied to a central bank, the monetary authority has the ability to alter the money supply and thus influence the interest rate in order to achieve policy goals. Monetary policy, also described as money and credit policy, concerns itself with the supply of money as so of credit to the economy. Objective of monetary policy The objectives are to maintain price stability and ensure adequateflow of credit to the productive sectors of the economy. Stability ofthe national currency (after looking at prevailing economicconditions), growth in employment and income are also looked into. The monetary policy affects the real sector through long and variable periods while the financial markets are also impacted through shorttermimplications. Major objectives can be summarized as under: i) To promote and encourage economic growth in the economy amp; ensure the economic stability at full employment or potential level of output. It aims to achieve the twin objectives of meeting in full the needs of production and trade, and at the same time moderating the growth of money supply to contain the inflationary pressures in the economy. ii) Sectorial deployment of Funds. Depending upon the priorities laid down in the plans, the RBI has determined the allocation of funds, as also the interest rates among the different sectors. There are four main channels which the RBI looks at: * Quantum channel: money supply and credit (affects real outputand price level through changes in reserves money, moneysupply and credit aggregates). * Interest rate channel. Exchange rate channel (linked to the currency). * Asset price. Price stability has evolved as the dominant objective of monetary policy for sustaining economic growth and ensuring orderly conditions in the financial markets with increasing openness of the Indian economy The fundamentalidea is that it is only in a low and stable inflation environment that economic growt h can be continued. Monetary policy also aims to be directly supportive of growth by ensuring that the credit requirements of various segments are met adequately through an appropriate credit delivery and credit pricing mechanism and a conducive credit culture. Monetary decisions today take into account a wider range of factors, such as: * short term interest rates; * long term interest rates; * velocity of money through the economy; * exchange rate * credit quality * bonds and equities (corporate ownership and debt) * government versus private sector spending/savings * international capital flow of money on large scales * financial derivatives such as options, swaps and future contracted. Monetary policy tools The monetary authority uses various instruments of monetary control in order to influence the goal variables in desired directions and degrees. The target variables are variables which the monetary authority tries to control or influence so as to influence the goal variables in the desired manner. To serve the target function well, a chosen target variable should possess the following four qualifications: a) It should be closely related to goal variables and this relation should be well understood and reliably estimable, b) It should be rapidly affected by policy instruments, c) Non-policy influences on it should be relatively small,i. , small relative to policy influences, and d) It should be readily observable (a measurable) with little or no time lag. Traditionally three variables have served as candidates for monetary-policy targets. They are: money supply, bank credit, and interest rates in securities market. Various Monetary policy tools are: i. Monetary base Monetary policy can be implemented by changing the size of the monetary base. This directly changes the total amount of money circulating in the economy. A centra l bank can use open market operations to change the monetary base. The central bank would buy/sell bonds in exchange for hard currency. When the central bank disburses/collects this hard currency payment, it alters the amount of currency in the economy, thus altering the monetary base. ii. Reserve requirements The monetary authority exerts regulatory control over banks. Monetary policy can be implemented by changing the proportion of total assets that banks must hold in reserve with the central bank. Banks only maintain a small portion of their assets as cash available for immediate withdrawal; the rest is invested in illiquid assets like mortgages and loans. By changing the proportion of total assets to be held as liquid cash, the Federal Reserve changes the availability of loanable funds. This acts as a change in the money supply. Central banks typically do not change the reserve requirements often because it creates very volatile changes in the money supply due to the lending multiplier. iii. Discount window lending Many central banks or finance ministries have the authority to lend funds to financial institutions within their country. By calling in existing loans or extending new loans, the monetary authority can directly change the size of the money supply. v. Interest rates The contraction of the monetary supply can be achieved indirectly by increasing the nominal interest rates. Monetary authorities in different nations have differing levels of control of economy-wide interest rates. The Federal Reserve can set the discount rate, as well as achieve the desired Federal funds rate by open market operations. This rate has significant effect on other market interest rates, but there is no perfect relationship. In the United States open market operations are a relatively small part of the total volume in the bond market. One cannot set independent targets for both the monetary base and the interest rate because they are both modified by a single tool — open market operations; one must choose which one to control. In other nations, the monetary authority may be able to mandate specific interest rates on loans, savings accounts or other financial assets. By raising the interest rate(s) under its control, a monetary authority can contract the money supply, because higher interest rates encourage savings and discourage borrowing. Both of these effects reduce the size of the money supply. v. Currency board A currency board is a monetary arrangement which pegs the monetary base of a country to that of an anchor nation. As such, it essentially operates as a hard fixed exchange rate, whereby local currency in circulation is backed by foreign currency from the anchor nation at a fixed rate. Thus, to grow the local monetary base an equivalent amount of foreign currency must be held in reserves with the currency board. This limits the possibility for the local monetary authority to inflate or pursue other objectives. 1. Instruments of monetary policy in India The monetary policy is nothing but controlling the supply of Money. The RBI takes a look at the present levels and also takes a call on what should be the desired level to promote growth, bring stability of price (low inflation) and foreign exchange. The Reserve Bank of India (RBI) as a designated monetary authority has no control over the deficit financing of the central government and only limited control over its foreign exchange assets, we discuss below in detail the instruments of control used by the RBI: : A. Quantitative measures: 1. Open Market operations: It means the purchase and sale of securities by central bank of the country. The sale of security by the central bank leads to contraction of credit and purchase thereof to credit expansion. It is useful for the developed countries. In India, the RBI enters into sale and purchase of government securities and treasury bills. So the RBIcan pump money into circulation by buying back the securities and vice versa. In absence of an independent security market (all Banks are state owned); this is not really effective in India. The major Limitations are that * When the central bank purchases the securities the cash reserve of member bank will be increased and vice versa. The bank will expand and contract credit according to prevailing economic and political circumstances and not merely with reference to their cash reserves. * When the commercial bank cash balance increase the demand for loan and advance should increase. This may not happen due to economic and political uncertainty. * The circulation of bank credit should have a constant velocity. 2. Bank rate policy :Popularly known as repo rate and reverse repo rate, it is the rate at which the RBI and the Banks buy or exchange money. This results into the flow of bank credit and thusaffects the money supply. Bank rate- It is the minimum rate at which the central bank of a country provides loan to the commercial bank of the country. Bank rate is also called discount rate because bank provides finance to the commercial bank by rediscounting the bills of exchange. When general bank raises the bank rate, the commercial bank raises their lending rates;it results in fewer borrowings and reduces money supply in the economy. Reverse repo rate– It is the rate that RBI offers the banks for parking their funds with it. Reverse repo operations suck out liquidity from the system. Major limitation is that : * Well organized money market should exist in the economy. Repo rate * It is introduced through which RBI can add to liquidity in the banking system. Through repo system RBI buys securities from the bank and there by provide funds to them. * Repo refers to agreement for a transaction between RBI and banks through which RBI supplies funds immediately against government securities and simultaneously agree to repurchase the same or similar securities after a specified time which may be one day to 14 days. A repurchase agreement or ready forward deal is a secured short-term (usually 15 days) loan by one bank to another against government securities. * Legally, the borrower sells the securities to the lending bank for cash, with the stipulation that at the end of the borrowing term, it will buy back the securities at a slightly higher price, the difference in price representing the interest. 3. Cash Reserve ratio (CRR): This is the percentage of total deposits that the banks have to keep with RBI. And this instrument can change the money supply overnight. Changing cash reserve ratio is an excellent instrument of control. The bank has to keep certain amount of bank money with themselves as reserves against deposits. * The increase in the cash rate leads to the contraction of credit only when the banks excess reserves. * The decrease in the cash rate leads to the expansion of credit and banks tends to make more available to borrowers. . 4. Statutory Liquidity Requirement (SLR)amp;liquidity adjustment facility ( LAF )-this is the proportion of deposits which Banks have to keep liquid in addition to CRR. This also has a bearing on money supply. * LAF is the instrument of monetary policy from June 2000 to adjust on daily basis liquidity in the banking system. * Through LAF, RBI regulates short-term interest rates while its bank rate policy serves as a signaling device for its interest rate policy in the intermediate period. RRBs are required t o maintain SLR at 25 per cent of their NDTL in cash or gold or in unencumbered government and other approved securities. Unlike in the case of scheduled commercial banks, balances maintained in call or fixed deposits by RRBs with their sponsor banks are treated as â€Å"cash† and hence, reckoned towards their maintenance of SLR. As a prudential measure, it is desirable on the part of all RRBs to maintain their entire SLR portfolio in government and other approved securities, which many of them are already doing. All RRBs may maintain their entire SLR holdings in government and other approved securities. B. Qualitative measures: 1. Credit rationing: Imposing limits and charging higher/lower rates of interests in selective sectors are what you see is being done byRBI. 2. Moral suasion: We hear of RBIs directive of priority lending in Agriculture sector. Seems more of a directive rather than persuasion. It implies the central bank exerting pressure on banks by using oral and written appeals to expand or restrict credit in line with its credit policy. It is a combination of persuasion and pressure which RBI is always in a position to use on banks in general and errant banks in particular. This is exercised through discussions, letters, speeches, and hints thrown to banks. This can be used by the RBI to urge banks to keep a large proportion of their assets in the form of government securities, lend their helping hand to develop a broad and active market in treasury bills and government securities, and not borrow excessively from the bank when it is engaged in fighting the forces of inflation. The main interst sensitive sectors are banking sector,automobile sectorand real estate sector Let me examine how the monetary policy impact on the major interast sensitive sectors ie banking sector and automobile sector. oth sectors are linked with the policy measurs of the RBI. the change in interst rate casues a big impact on the profit earning capacity of the two sector companies Firstly the banking sector . This  analysis  takes  a look at  Indian monetary  policy  and  how it  will  impact:   Ã‚  Ã‚   a. Banks   Profitability b. Availability   of  Ã‚   funds  Ã‚   to   trade   and  Ã‚   industry   Ã‚  Ã‚   c. Other   factor Interest on loans are the main income of the banks. when the reserve bank take an action which effect interest rate it will affect the banks income and profitability. It may be positive or negative. Cost of fund will increase and it will reduce banks net interest margin to keep the net interest margin all banks raises lending rates When RBI hikes CRR it will directly affect by the profitability of banking companies. When RBI increase the CRR it will cause reducing the deposits available with the banks to make loans . Banks charge a very high interest rate on the loans they give. Banks take this measurer to retain the profit rate which earned during former CRR rate.. when the lending rate are high, general public and corporate postpone heir work to future period. so this cause to reduse the lending from banks,then the profit will decrease If the RBI reduce the CRR and SLR rate ,the banks can give more loans at lower interest rate. the low interst rate attract more companies and people to take loan. so this cause to increase the profit of the banks Cash Reserve Ratio (CRR)| 6. 00% (w. e. f. 24/04/2010)| Increased from 5. 00% to 5. 50% wef 13/02/2010; and then again to 5. 75% wef 2 7/02/2010; and now to 6. 00% wef 24/04/2010| Now the CRR is 6. 00%. it from 24-4-2010. RBI increased CRR from 5. 00% to 6. 00% during the 4th quarter of 2009-2010 and 1st quarter of 2010-11. this change also change the net interest margin of the banks. 1% increase caused a negative impact of the profitability of the banks. Statutory Liquidity Ratio (SLR)| 24%(w. e. f. 18/12/2010)| Decreased from 25% which was continuing since 07/11/2009| No more change in the SLR rate after 7-11-2009 have made an impact on the profit earning capacity of the banks Bank rate impact It is the minimum rate at which central bank provides loan to commercial banks. It is also called discounting rate because bank provides finance to the commercial banks by rediscounting the bill of exchange. When central banks raises bank rate commercial banks raises lending rate and vice-versa When RBI rises the bank rate ,the commercial banks rasies rasies its lending rates, it will adversely impact on the profitability of banks. Bank’s net interest margin will reduce. Repo rate impact When ever there is deficient of the fund with the banks then the banks barrow money from RBI, Repo rate is the rate at which all banks barrow rupees from RBI. When RBI increase repo rate ,no banks ready to take loan from RBI. IF the RBI decrease the repo rate, bank will go to RBI to take loan at lower interest rate. If the RBI increase the rate it will reduce the profit margin. Reverse repo effect If the RBI increase the reverse repo rate banks get high interest by putting money to safe hands. but it reduce the money supply in the economy . bank not have money to give loans to public and get interest on loan. so interest earned on loans will decrease and the net interest margin reduced. Reverse Repo Rate| 6. 25% (w. e. f. 03/05/2011)| Increased from 5. 75% which was continuing since 17/03/2011 [Till 03/05/2011, reverse repo rate was an independent rate and announced by RBI. However, in the monetary policy announced on 03/05/2011, RBI has decided that now the reverse repo rate will not be announced separately, but will be linked to Repo rate. Reverse Repo rate will be 100 bps below the repo rate] | How monetary policy affect on the returns of auto sector The automotive industry remains one of the highest revenue-earning industries in India and contributed over 5% to India’s GDP in 2009, providing direct and indirect employment to more than 13 million people. The market outlook for the industry remains promising, especially in the small car segment. The Indian automobile market is currently dominated by the two-wheeler segment but with an expanding middle class population, growing earning power and industrial development, the demand for passenger cars and commercial vehicles will increase exponentially. Also, the low vehicle presence (with passenger car stock of only around 11 per 1,000 population in 2008) indicates a very low base with significant growth potential. As per ‘Just-Auto’ analyst reports, sales of passenger cars in 2008-2016 are expected to grow at a CAGR of around 10%. In addition to increased domestic demand, there is also likely to be increased investment by global auto manufacturers to India due to its strong technological capability and availability of trained manpower at competitive prices. Currently, the foreign auto companies with assembly plants in India include, General Motors, Ford, Hyundai, Honda, Suzuki, Nissan Motors, Toyota, Volkswagen, Audi, Skoda, BMW, Fiat and Mercedes Benz. With the introduction of the Tata Nano, the cheapest car in the world at USD 2200, and FDI from Suzuki Motor Corp, Hyundai Motor Co, and Nissan Motor Co to make India their manufacturing hub for small cars, India has made huge inroads in the compact car segment. In fact, in 2009, India overtook China in the global auto exports of compact cars for the first time. Increase or decrease in interest rate will directly affect the automobile industry because a majority of people are depending on  car loans  or two wheeler  loans for  buying vehicle. So if the interest rates are increasing, people won’t be able to afford this and normally the demand for automobiles will come down this will have a very bad impact on the industry TATA MOTORS: TATA MOTORS Tata Motors is India’s largest automobile company It is the leader in commercial vehicles and among the top three in passenger vehicles. The company is the worlds fourth largest truck manufacturer, the worlds second largest bus manufacturer. Tata Motors has auto manufacturing and assembly plants in Jamshedpur , Pantnagar , Lucknow , Ahmedabad , Sanand and Pune in India, as well as in Argentina, South Africa and Thailand. Products : Passenger cars and utility vehicles Concept vehicles Commercial vehicles Military vehicles Financial results of tata motors 2009-10 2008-09 2007-08 ) Gross revenue38,364. 1028568. 2133093. 93 2) Net revenue(excluding excise duty)35593. 0525629. 7328739. 41 3) Total expenditure31414. 7723877. 2925807. 82 4) Operating profit4178. 281752. 442931. 59 5) Other income1853. 45925. 97483. 18 6) Profit before interest and depreciation6031. 732678. 413414. 77 7) Interest and discounting charges(net)1103. 84673. 68282. 37 8) Cash profit4927. 892004. 734057. 84 Rising interest rates  had a negative impact on company because when interest rates was raised, the cost of borrowing money rosed. Ultimately, the company profitability and ability to grow was reduced. When a company profits (or earnings) dropped, its stock became less desirable, and its stock price falled . A company success comes when it sells its products . But increased interest rates negatively impact its customers. The financial health of its customers directly affected the company ability to grow sales and earnings. When interest rates rise, investors start to rethink their investment strategies i. e Investors sell shares in interest-sensitive stocks that they hold. Interest-sensitive industries include electric utilities, real estate, and the financial sector. Interest rates rises –sales effects profitability is affected dividend payments too effected. The price of a stock depends on the earnings of the company. If the earnings slow down (because of higher interest rate payments), the prices of the stocks will dip and overall, the stock market will be hit. A rise in interest rates also cools down the economy . demand for goods and services rise. If the supply is not immediately forthcoming, the price of those goods and services rise. That leads to inflation. Low interest rates are good for business, it makes it cheaper to borrow funds, invest in new projects, expand supply, etc. Low interest rates also increases consumption as  debt finance becomes cheaper and people’s disposable income rises as existing interest payments are reduced. A decrease in interest rates therefore increases revenue expectations for most businesses. car sales down as compared to the previous year. reducing costs wherever possible, consolidating brands and dropping model lines and deferring Ramp;D projects to conserve funds.

Italian Mafia History essays

Italian Mafia History essays The Mafia started early in the 9th century. This was the period in which the Arab forces occupied Sicily. Sicilians needed a place to escape to. The word Mafia means refuge in Arab language. The Normans invaded a Sicily in the 11th century. Once again they were forced to work for these invaders as slaves. The only way to escape this was to hide in the hills of the island. When Sicily was invaded the refuges were pursued just as every time that they had been invaded before. These people in the hills formed groups to fight against these enemies. This group wanted to create ancestry and heritage. These beliefs were developed and used in the basic structure if the organization. Atop of all stood the dons, or chiefs, who were the bosses of the Mafia groups in each village. They report to the don of dons, who live in the Capital. The capital of Sicily was Palermo. They were inducted into the Mafia through an oath which to this day says: A vow never to reveal any Mafia secrets or members under the threat of torture or death. Always help out fellow Mafia members. Avenge attacks on members of the family, because every sheep is part of our flock. Stay away from police and other government disciplinarians. In the 19th century the Mafia grew into a large criminal society. Creating the Mafias own forms of authority. The Mafia began to extort many people by handing out Black Hand notes, which been around since the 1700s. They hand out black notes to people requesting money in return for protection. The only people that these victims needed protection against were the same criminals who handed them these notes. Victims had to give the money up or else their families would be victims of violence, kidnapping, bombings, and murder. In 1876 Don Raffaele Pazzolo ran for political office to infect the Sicilian government with the Mafia. By having voters vote under gunpoint he reached his goal. He used his power to ge...

Advertising and promoting Essay Example | Topics and Well Written Essays - 1500 words - 1

Advertising and promoting - Essay Example Brochures provides for a lot of information to be passed by, they are easy to fold and pass around. Many can be created at the same time and provide for large coverage without being bulky. Direct mailing gives promotion a sense of personal touch. Mail can also be customized for different people accordingly so as to meet their needs and motivate them. Newsletters provide for all useful organizational information to be communicated fully, Newspapers and newsletters also provide a great coverage of people. Posters and bulletins as well provide means to reach to the consumers. However they are often not paid attention and are effective when you place them strategically where the customers are likely to see them and notice them. Posters should also be kept neat and made attractive to be noticed. Social networks that involve discussion groups are effective methods of promoting products and advertising them. The social network is cheap to operate with and very fast media. It would involve s ites like Facebook and personal of company blogs and websites. Television can be quite expensive, it is however very effective medium as it reaches a very extensive population and gets popular with time. Radio on the other hand is also effective as a tool of advertisement it reaches a good population. Even so, it is hard to put down the visual content of an ad on radio and therefore it is useful as a first source of communication before consumers have to get on to the actual written form. This reduces on the effectiveness of the radio medium. All in all they are much cheaper compared to television ads. To pull through with an advertisement on an environmental friendly car it is important to consider a combination of certain forms of media which would include brochures and the radio media. It is important to obtain good representation of the car on the paper and provide with all the relevant information about it the brochures are effective since more information and actual drawings o f the car can be availed. The next step is to find a good distribution plan that could involve supermarkets and firms offering those brochures. To promote a new brand of Ferrari would require a technique of advertisement that would reach a certain population of car lovers. Television ads are useful for a certain period since car brands are majorly an interest to the general public. The companies’ newsletter provides useful information that is normally updated on a regular basis. Television adverts are useful as well in letting the public on new models since companies like Ferrari are already at a high point in the industry and the main aim is to maintain an image than create one. The company could use a mix of most of the media techniques. It could also incorporate web pages and the actual Ferrari website. The internet advertisements not only aloe for the public to view the models available but also purchase them. The website is especially useful since it allows for a global platform and market. The companies promote themselves by allowing for buyers overseas to order and do transactions online and by delivering the products as per the agreements. This way the companies gain loyalty and trust from other countries. The government is also supportive of exportation transactions since it gains from it by taxation during foreign exchange. The image of companies like Fe

Hinduism Essay Example | Topics and Well Written Essays - 500 words - 9

Hinduism - Essay Example Such is the her greatness that the kings and all other men seek help from her as she is the one praised by all the gods; Goddess Lakshmi holds a dominant position in the hierarchy of Hindu gods. She is called many things such as; the sacred fire, the golden one, the one garlanded in silver and gold, are some of her attributes. Her arrival means good news for the people and her procession brings good luck and happiness for them. When the goddess approaches the poet it brings them comfort. Her sacred fire looks fierce but it glistens like smooth cool water. She herself is very content and also bestows contentment on her people. She is also the protector of people; the poor seek refuge in her presence. Her arrival is glorified in the original Sanskrit poems so much so that it appears that the concept of happiness and comfort is her creation. The poem tells that worldly pleasures like gold, cattle, horses and even loyal friends become the destiny of her followers when she arrives. It is as if when the goddess gives attention to the one invoking her she bestows contentment, love, satisfaction and worldly p leasures onto that person; Be it the common people or the king, everyone bows before the goddess Lakshmi and seeks her help. The poem praises her beauty and calls her the ‘sun brilliant’. The poem says that through her austerity the bilva tree springs up and gives fruits that has the power to dispel Alaksmi (the goddess of misfortune). Later the poem also asks the goddess to bestow fame and give wish fulfilling jewel. The fame and fortune is also in her powers to bestow upon the common people. Goddess Lakshmi does not only provide worldly pleasures and wealth. She also gives the peace of mind, the pleasure and the truthfulness in speech. When goddess Lakshmis daughter, Kardama, dwells in a person it will make Lakshmi dwell in his home. The Lotus garlanded Shri is also her title.

Advertising to children Essay Example for Free

Advertising to children Essay Over the last few decades advertising has altered the lives of many and in particular children. Children are susceptible to what they see and are more prone to act on a whim. This research paper will analyse advertising which is aimed at children and will test the following thesis statement Thesis – Advertising misleads children in purchasing goods which they do not need. When you think about this, it may not seem that true. You could argue that you dont know anyone whose fashion or style is influenced by Hollywoods stars. But, you know youve seen people wearing Sean John or JLo brand clothing. Celebrities also influence fashion much more generally. Most fashion trends were either started or influenced by the big stars, says Ramon. Another key component of child intended marketing is the music industry. Stephen Kiehl of the Baltimore Sun says, You could be forgiven for confusing the Number 1 song in the U. S. last week with a commercial. The journalist also mentions that some musical artists are even paid to advertise specific products in their songs. A recent example of this is Petey Pablos song Freak-a-Leak in which the lyrics include, Now I got to give a shout out to Seagrams gin. Cause Im drinkin it and they payin me for it. According to the San Francisco marketing company, Agenda Inc. , 59 brands have been mentioned 645 times in the songs that have made it into the top 20 this year. Another large reservoir of advertising aimed at children is oddly enough, school. Looking right which really means fitting in, is very important for young teenagers, says LaRue- Robinson, a middle school guidance counselor in Forestville, Md. With students caring about how their peers are dressed, moms are beginning to worry; Its gotten really bad now with Tiny Teddies and Cheezels give a balance diet to children (Houlihan, 2005). On the other hand, some advertisements using prize to deceive children to buy their products. The video (Buy me that, too! 1992) explained how the television advertising deceptive children. From the Cereal Giveaways advertising, children can get a complete set of baseball cards easily (Buy me that, too! 1992. But the presenter said 73 boxes to get a good chance only, this result in expenditure increasing for parents (Buy me that, too! 1992). Therefore, television advertising directed at children is not fair, people can not allow deceptive advertising continue to misleading children, it should be forbid. Some people argue that if government do not allowed manufacturers to promote their products on children television, this will lead to destroy of the childrens product industry. This point of view is biased. Word-of-mouth is influencing children buying power. Harry Potter novel now is popular around the world, but the success is not from television advertising, the books themselves became successful are because of word-of-mouth between children (Blades, Gunter Oates cited in Proctor Richards, 2002). Without television advertising, childrens product has been successful in society, Harry Potter gives manufacturers an example that how to achieve success without to promote on children television. Moreover, television advertising is not only method for manufacturers to promote their products. According to the Australia Film Commission report (AFC, 2005), it is estimated the total advertising expenditure with Commercial Economic Advisory Service of Australia (CEASA). Television advertising is not the most important channel for manufacturers in Australia, newspapers is the first choice for manufacturers to promote their products. Also, from the study, manufacturers like to choose radio, magazines and other channels to promote their products (AFC, 2005). Furthermore, 78% of children and adolescents who use the internet do so at home (National Center for Education Statistics, 2003). Internet has become an efficiency way for manufacturers to promote their goods. From the word-of-mouth advertising and study from AFC, people can find the answer easily that forbid the manufacturers to advertise on television will not destroy the childrens product industry. To escape advertising is nearly impossible; brand logos are everywhere. Even in outer space you cant escape it. In 1993 Schwarzeneggers underrated and misunderstood classic, (my opinion, Ill admit it! ) Last Action Hero had its logo painted on a satellite for a large fee, and will circle our planet for the next few thousand years. The soldiers fighting in Iraq, even as I write this, are carrying advertisements; the M-16A2 has a Colt logo stamped into its side, a reminder of who makes that quality weapon. Even in the remotest regions of our world artifacts with recognizable logos are found thanks to care packages. (The Gods Must be Crazy is a wonderful movie on this subject. ) Why do we tolerate such invasions to our lives? Largely because these sorts of advertisements slip under our radar, but also for identification purposes; if you came to my house and saw my entertainment centre, you might know what the DVD player, stereo and the television are, but if you are not familiar with gaming systems, you would have trouble distinguishing the X-Box from the Playstation 2 or the Gamecube. So that type of brand labelling does serve a purpose other than advertising in some cases. There are exceptions to the rule of slapping a logo on everything that we purchase, and a clear boundary that corporations will not cross; furniture. A simple scan of the room Im in shows that that my furniture has nothing denoting where it came from, although I do know that the mattress does have a manufacturers tag on it, my sheets cover it. Out of sight, out of mind. Advertising is becoming more and more a part of our society. The film Minority Report features a scene where advertising is everywhere, and customized to the person. This could be construed as an invasion of privacy, as every purchase of the individual is scrutinized and advertising is personally tailored to that person. This type of information gathering is already being tested in seemingly innocent places. Search for a book on amazon.com and you will get recommendations for other products that you may also be interested in based on your search. (Houlihan, 2005, pg76) Advertisers are also starting to work under our radar. On the Internet, advertisers used to use tracking cookies to find out the places you went, what you purchased online and other information. Soon the pop up ad appeared to annoy just about everyone who saw them. Pop ups were preceded by E-junk mail, dubbed Spam. The problem has moved on to what have been dubbed Spybots programs that integrate into your browser program and report back the web activity to its source. Gator is the most infamous of these. The answer to the thesis statement based on this research paper is yes. To sum up, it is clearly shows that public should outlaw all advertisements that target innocent children. As this is good for childrens health and controls the increasing childhood obesity, and also is of great benefit to the relationship between children and parents. Parents are no longer afraid that children are influenced by unhealthy content of advertisements. Nowadays, more and more countries, like many European Union countries, implement a ban on childrens advertising. Children are a countrys future, protecting their wellbeing and healthy life is the most important responsibility not only for their parents but also for the whole society. References Derived from esbco host – The university of Winnipeg http://libproxy. uwinnipeg. ca/login? URL=http://search. ebscohost. com/login. asp? profile=web CNN. com Health America Australia Film Commission, 2005, what Australians are watching, [Online], Available: http://www. afc. gov. au/gtp/wftvisadrevenue. html [November 24, 2008] Baker, F. 2004, TV-Toy Ad analysis Worksheet, [Online], Available:http://medialit. med. sc. edu/toyadanalysisworksheet. htm [November, 24, 2005]

The Colonization of Hawaii and Tourism Essay -- Hawaii Tourism History

The Colonization of Hawaii and Tourism Since 1840 the Hawaiian Islands have been an escape to a tropical paradise for millions of tourists. People all over the world encounter alluring, romanticized pictures of Hawai'i's lush, tropical vegetation, exotic animals, beautiful beaches, crystal clear water, and fantastical women. This is the Hawai'i tourists know. This is the Hawai’i they visit. However, this Hawai'i is a state of mind, a corporate-produced image existing on the surface. More precisely, it is an aftermath of relentless colonization of the islands' native inhabitants by the United States. These native Hawaiians experience a completely different Hawai'i from the paradise tourists enjoy. No one makes this as clear as Haunani-Kay Trask, a native Hawaiian author. In her book, From a Native Daughter: Colonialism and Sovereignty in Hawai'i and through her poetry in Light in the Crevice Never Seen, Trask provides an intimate account of the tourist industry's impact on native Hawaiian culture. She presents a neg ative perspective of the violence, pollution, commercial development, and cultural exploitation produced by the tourist industry. Trask unveils the cruel reality of suffering and struggling through a native Hawaiian discourse. Most of the world is unaware of this. To examine various discourses, it is crucial that the idea of discourse and the way in which discourses operate is clear. A discourse is a language, or more precisely, a way of representation and expression. These "ways of talking, thinking, or representing a particular subject or topic produce meaningful knowledge about the subject" (Hall 205). Therefore, the importance of discourses lies in this "meaningful knowledge," which reflects a group’s ideolo... ...e" (Trask xix). This incident beautifully illustrates and signifies tourism's impact in American society. Like most Americans, this woman uses a discourse that has been shaped by tourist advertisements and souvenirs. The woman's statement implies that Trask resembles what the tourist industry projects, as if this image created Hawaiian culture. As Trask asserts, Hawaiian culture existed long before tourism and has been exploited by tourism in the form of advertisements and items such as postcards. Along with the violence, endangered environment, and poverty, this exploitation is what the tourist industry does not want to show. However, this is the Hawai'i Haunani-Kay Trask lives in everyday. "This is Hawai'i, once the most fragile and precious of sacred places, now transformed by the American behemoth into a dying land. Only a whispering spirit remains" (Trask 19).

Booking System Essay

1.Product Description Gamici is one of Singapore’s most prestigious and stylist Italian restaurant which served authentic Italian cuisine. With its simple, elegant yet friendly and vibrant environment, Gamici has become a common social gathering place for many friends and families. Therefore, this has helped to boost the growth of its business. Currently, Gamici is using a completely manual based system to carry out some of their day to day operations. Due to the business growth, this system has become inadequate to meet its business requirements. Some problems it encountered using a manual system when its business is getting busier each day: †¢ More manpower is needed to serve the customers which lead to space constraint in the restaurant. †¢ Servers complained that they have too much to do within the fastest time possible else customers will get impatient with their service. This may lead to more human error such as carelessness. †¢ Inefficiency caused returning customers to decrease as the wait time for seats, food to be served, servers’ response and billing are getting too long. †¢ Food quality degrades as food processing time is shortened to satisfy customers’ impatience. †¢ Customers can only reserve seats and order food through phone calls and this means that payment cannot be made beforehand. Some of the food ordered by customers may have special ingredients that need advance purchasing. Last minute cancellation by customers or customers who do not turn up, result in wastage of food and staff effort is put to a waste. Thus, the restaurant will eventually make loses. †¢ High expenses incurred. With the aim for solving the above problems, Gamici has decided to engage UPz to develop a portal to 1) Reduce the workload of the staff. 2) Have online payment via credit/debit card. 3) Receive order in real time Therefore, UPz software development team will introduce an Online Reservation and Food Ordering System (ORFO) whereby customers can browse the food menu online, which order can be placed and payment can be made through the system and reserve seats based on restaurant floor plan to pick the exact seat location in the restaurant that the customers prefer to dine at. 1.1Product Vision The new system (ORFO) aims to increase efficiency to smoother work flow of the restaurant so as to provide top-notch dining experience and service to the customers. It also aims to reduce overheads caused by the manual system and solve the current problems mentioned in Section 1 – Product Description. 1.2Business Requirements The first version of the ORFO must be available within three months. ORFO must demonstrate cost saving of at least 20% on labor within a year after the introduction. The reduction of manpower would mean that the restaurant need not have to activate as many staff as before during peak hours or days of the week. Labor productivity must be improved by 15% at least. Revenue must result in 20% increase after a year. New and existing customers patrolling the restaurant must result in 15% increase at least. 1.3Stakeholders and Users Management – The Board of Directors as the controlling interest in ORFO. Weekly status update meeting will be held to communicate the progress of the project to the management. Purchaser – Upz who invest money to develop the system. User – Customers who use ORFO to interact with Gamici. Developers – The eight-member development team which includes one project manager, two programmers, two software engineers, two database analysts and one designer. Staff – Restaurant Manager and Restaurant Supervisor who maintain and update the portal such as adding new items to the menu, making changes to the prices, introducing promotions. Administration Clerk and Waiters are only able to retrieve information. 1.4Project Scope The scope of this project is to develop an Online Reservation and Food Ordering System which will be integrated on Gamici website. This system allows reservation making and food ordering services that will provide a convenient dining experience to the customers. Customers can also raise special requests to cater to their needs. In addition, the ORFO system allows customers to choose their desire seats online based on the restaurant floor plan and order food. Then, payment can also be done online through ORFO system. Database will be created to keep track of customers’ information and requests. 1.5 Assumptions Order ID will be issued to customers after each transaction with Gamici. The payment modes will be through credit/debit cards or internet banking. An invoice will automatically be generated after each transaction. 6 Constraints The system should support various payment modes. Functional Requirements 1. General 1. The user shall only be able to perform the following operations: i. For customer: a. Make a reservation b. Browse menu c. Special request d. Make payment e. Modify/cancel reservation ii. For restaurant personnel: a. View database 2. The ORFO must have a â€Å"Back button† to go back to previous page. 2. Make a Reservation 1. When the user initiates ‘Make a Reservation’, he/she must be taken to the ‘Make a Reservation’ page. 2. The user must be able to enter the following information a. Time and date b. Number of people 3. Once the user submits the information, he/she will be taken a page that shows the floor plan of the restaurant. 4. The page must show all the available table(s) that fit the requirements in 2.2.2 in yellow. Unqualified table(s) will be in red. 5. The user must be able to choose the table(s) in yellow only and using the mouse by clicking on the table. The selected table will be in green. 6. The user must be able to deselect the table by clicking the selected table again and the table will be in yellow again. 7. Once the requested table(s) is selected, the user must be able to click the ‘Confirm’ button to proceed. 8. The user must be able to enter the following information: a. Name (between 1 to 32 characters) b. Contact number 9. Once the information is submitted, the selected table(s) and the information must be updated in the database. 10. If the update fails, the ORFO must show an error message to the user notifying him/her of the failure. 3. Browse Menu 1. The ORFO must display the menu that is updated to the current day and must be coherent to the menu used in the restaurant. 2. The menu page must display the menu in tabs with the following categories: i. Main course ii. Appetizers iii. Beverages iv. Dessert 3. Each tab page must display a list of 10 items at a time. 4. User must be able to navigate through the items using various navigational links provided at the bottom of the page: a. Clicking â€Å"next† will list the next 10 products in the menu. (If more available) b. Clicking â€Å"previous† will list the previous 10 products in the menu. (If previous exists) c. Click on individual page numbers will display the selected page. 5. The ORFO must allow the user to view the following about a single item from the menu by clicking on the item: a. Item name b. Item image c. Item description d. Item price 6. The user must be able to select the item by double clicking on the item and the item will be added to cart, refer to 2.3.7. 7. The ORFO must display a cart that contains the items selected by the user at the bottom of the page. 8. The cart must contain the following information a. Item name b. Item price c. Total price (with GST) d. Total price (with GST) 9. The user must be able to delete the item from the cart by selecting the item and click on the â€Å"Remove† button at the side. 10. If there is at least one item in the cart, the user must be able to click the â€Å"Proceed† button to proceed. 11. Once the â€Å"Proceed† button is clicked, the selected items information must be updated in the database. 12. If the update fails, the ORFO must show an error message to the user notifying him/her of the failure. 4. Special Request 1. The ORFO must display a list of default special request with tabs with the following categories: a. Birthday b. Date c. User defined 2. For tabs a and b, the page must display a list of 10 items at a time. 3. User must be able to navigate through the items using various navigational links provided at the bottom of the page: a. Clicking â€Å"next† will list the next 10 products in the menu. (If more available) b. Clicking â€Å"previous† will list the previous 10 products in the menu. (If previous exists) c. Click on individual page numbers will display the selected page. 4. The ORFO must allow the user to view the following about a single item from the menu by clicking on the item: e. Item name f. Item image g. Item description h. Item price 5. The user must be able to select the item by double clicking on the item and the item will be added to cart under refer to 2.3.7. 6. To delete the selected item refer to 2.3.9. 7. For tab c, the user must be able to enter in a short description of the special request and must provide the following information: i. Item name ii. Place to buy 8. If there is at least one item in the cart, the user must be able to click the â€Å"Proceed† button to proceed. 9. Once the â€Å"Proceed† button is clicked, the selected items information must be updated in the database. 10. If the update fails, the ORFO must show an error message to the user notifying him/her of the failure. 11. The ORFO must inform the user via the contact provided in 2.2.8 within 24 hours about the user defined special requests. 5. Make Payment 1. The ORFO must allow the user to look through all the items in the cart with information provided in 2.3.8. 2. The user must be able to confirm the order(s) by clicking the â€Å"Confirm† button. 3. The ORFO must display the modes of payment as shown: i. By cash at the restaurant ii. By credit card via online 4. If the user selects a, proceed to 2.5.5. If the user selects b, proceed to 2.5.8. 5. The ORFO must generate a transaction ID, the user must produce this ID at the restaurant for verification during the day of reservation. 6. The user must click the â€Å"Proceed† button to verify that he/ she has noted the transaction ID. 7. The ORFO must proceed to 2.5.14. 8. The user must be brought to a secured page to make the payment via credit card. 9. The user must be able to enter his/her credit card number. 10. After valid credit card number is entered, the user must be able to proceed by clicking the â€Å"Proceed† button. 11. Once â€Å"Proceed† button is clicked, the ORFO must verify the credit number. 12. If verification fails, the ORFO must show an error message to the user to notify him/her of the failure. 13. If verification is successful, the ORFO must generate an invoice and a link must be provided to the invoice for printing. 14. The ORFO must display the following information. a. Transaction ID b. Invoice ID (if any) c. Time and Date d. Number of people e. Table(s) reserved f. Food ordered g. Special request(s) (if any) 15. The reservation is completed, the user must be able to exit the page or proceed with another transaction by clicking the â€Å"Finish† button. 6. Modify/ Cancel Reservation 1. The ORFO must allow the user to modify or cancel reservation at â€Å"Modify/Cancel Reservation† Page. 2. The user must enter the following information for verification: a. Transaction ID b. Credit card (for payment via credit card only) 3. If the verification fails, the ORFO must show an error message to the user notifying him or her of the failure. 4. If the verification is successful, the ORFO must check the time of this adjustment and the time of reservation. 5. If the duration is more than 24 hours, the ORFO must show a message to the user notifying him/her that it is too late for the adjustment and 2.6.20. 6. If the duration is shorter than 24 hours, the user must be able to proceed to the page to make the adjustment. 7. The ORFO must display the following: a. Modify reservation b. Cancel reservation 8. If the user selects a, proceed to 2.6.9. If the user select selects b, proceed to 2.6.17. 9. The ORFO must allow the user to modify the reservation as shown below: i. Change reserved table, refer to 2.2 ii. Modify ordered food, refer to 2.3 iii. Modify special requests, refer to 2.4 10. If the net payment after the adjustment is less than the previous payment, no refund must be given. 11. If the net payment after the adjustment is more than the previous payment, additional payment must be made, refer to 2.5. 12. The ORFO must update the database with the adjustments. 13. If the adjustment fails, the ORFO must show an error message to the user notifying him or her of the failure. 14. If the update is successful, the ORFO must display the following information. a. New Transaction ID b. Invoice ID (if any) c. Time and Date d. Number of people e. Table(s) reserved f. Food ordered g. Special request(s) (if any) 15. The ORFO must display the following information of the reservation: a. Transaction ID b. Invoice ID (if any) c. Time and Date d. Number of people e. Table(s) reserved f. Food ordered g. Special request(s) (if any) 16. The user must be able to cancel the reservation by clicking â€Å"Cancel Reservation†. 17. Once the user selects â€Å"Cancel Reservation†, the ORFO must update the database with the adjustments. 18. If the adjustment fails, the ORFO must show an error message to the user notifying him or her of the failure. 19. If the update is successful, the ORFO must inform the user how to get the refund. 20. The adjustment is completed, the user must be able to exit the page or proceed with another reservation by clicking the â€Å"Finish† button. 7. View Database 1. The user must choose the time and date in a drop down menu. 2. The ORFO must display the database in tabs with the following categories: a. Tables reserved b. Food ordered c. Special Orders 3. If the user selects a, proceed to 2.7.4. If the user selects b, proceed to 2.7.6. If the user selects c, proceed to 2.7.9. 4. The ORFO must display the floor plan showing the status of the table: a. Green table means reserved b. Red table means not reserved 5. The ORFO must allow the user to view the following about a reserved table from the floor plan by clicking on the table: a. Customer name b. Customer contact number c. Number of people d. Link to the ordered food e. Link to the special request f. Mode of payment 6. The ORFO must display the ordered food in tabs based on the reserved tables. 7. When the user selects one of the tabs, the ORFO must display the ordered food in a table, with the following format: a. Main course b. Appetizers c. Beverages d. Dessert 8. The ORFO must display the quantity of the ordered food beside the item in the table. 9. The ORFO must display the special requests in tabs based on the reserved tables. 10. When the user selects one of the tabs, the ORFO must display the special requests in a table, with the following format: a. Birthday b. Date c. User define 11. The ORFO must display the quantity of the special requests beside the item in the table. 12. Once viewing of the database is done, the user must be exit the database by clicking on the â€Å"Exit† button. 3.Data Requirements Data requirements describe the format, structure, type, and allowable values of data entering, leaving, or stored by the product. 1. The system will only accept data which are correct and not ambiguious. E.g Mobile number should only be 8 digits long and credit card numbers should be 16 digits long. 2. The booking can only be submitted and processed by the system when all required fields of data have been filled up. 3. The system should display all times in the 24-hour clock format. 4. The system must store customer names in fields recording first and last name. 5. When a customer has selected a table of choice for booking but has not yet confirmed his booking, the system will lock out that particular table to other customers. 4.Non-functional requirements There are requirements that are not functional in nature. Specifically, these are the constraints the system must work within. 1. Compatiblity 1. The website should be compatitible with both Internet Explorer and Mozilla Firefox, the 2 most widely used browser currently. 2. User interface 1. The user interface should be as familiar as possible to users who have used other web applications and Windows desktop applications. E.g., we will follow the UI guidelines for naming menus, buttons, and dialog boxes whenever possible. 3. Security 1. Access will be controlled with usernames and passwords 2. Only administrator users will have access to administrative functions, average users will not. 3. Database should be reasonably secured to prevent leak or loss of confidential information such as credit card details from customers.. 4. Performance 1. The system should be up and running 24/7. 2. It should support at least 100 users using the online booking concurrently without any lag. 5. Backup and Recovery 1. There should be a backup server and database to prevent service interuption or loss of data when the main server and database are down. 2. Downtime should not last more then 30sec when switching from main server to the backup server in case of a breakdown. 6. Reliability 1. The whole online booking system should achieve a 99% sucess rate. i.e downtime should not be more then 1% of its total operating time. 2. System review will take place monthly. Any lack in performance or reliability will be addressed and improved on after each review. 7. System Maintainence 1. Maintainence of the system will be conducted weekly. Maintainence will be conducted during off-peak hours e.g between 12am – 6amz 5.Interface Requirements Overview The user interface of this restaurant booking system is a web site which can be viewed using popular web browsers. This high accessibility made it easier and more convenient for users to use the system. Users don’t need to set up any additional software for the purpose of running the system. As long as an Internet co nnection is available, the system can be easily accessed using their mobile devices. Multi-platforms operation is also an additional advantage of this design. One more advantage of this design is the power of the Hyper Text Markup Language (HTML). HTML provides nicer features with simple modification and configuration compared to the GUI of other languages. HTML language supports the use of other languages and technique to make dynamic objects, which can improve the vividness of the application. 5.1User Interfaces These are the fundamental features of the GUI that should be included in the websites: A login box comprises of an account and a password textfield. Users can sign in using their NRIC to check their bookings. We can provide the sign up function for long-term users so that they don’t have to refill the information everytime booking is made. A dynamic menu including the links to the homepage, the menu page, the booking page and the information page. the menupage will have the list of food with its respective image.It can be divided into many pages to ease up the navigation. The booking page will have a shopping cart function for the booking of food and a clickable map for the reservation of seats. After booking is submitted, the webpage will automatically redirect to the payment page. The information page will provide additional information about the restaurant. A slideshow or a flash of the images of the restaurant. Images of the top ordered dishes and their respective information (e.g price, ..). A panel for advertisements coming from our own restaurant or from other parties. 5.2Hardware Interfaces Describe how the software application interfaces with hardware that exists outside the scope of the system. 5.3Software Interfaces The use of web design tools such as Adobe Dreamweaver is employed to make a more professional and nicer design of the system. The code editor and the design editor is integrated in one tool, which allows easy modification as well as addition of elements onto the web pages. Interactive and dynamic objects can be created more easily within a few clicks. The platform to implement the webpage is php and mysql with the support of Apache. Another platforms to be considered are jsp, serverlet using netbean, asp.net and C# using Visual Studio. However, PHP is chosen due to its popularity, ease in coding and the availability of free scripts online. To edit the images and make the flash, it is recommended to utilize Adobe Photoshop, Flash SlideShow maker and Adobe(Macromedia) Flash Player. This requires some Actionscript code to make the dynamic contents. It’s also used to create icons and graphics to enhance the interface. 5.4. Difficulties Encountered and Solutions Applied Since most of the languages used is new to the development team. It takes time to get familiar with these languages. Another problem confronted by the team is the inconsistency in designs and layout since different components and different pages are developed seperately by different people. These components are later merged together to form the complete system. Confronting these problems, our team has come up with appropriate solutions and applied it successfully. For instance, we have searched online and found plenty of free pieces of code and software that is applicable to our system. This simplifies the process of coding and developing some interactive components. To name it, we use Flash SlideShow maker to generate the slideshow in the flash format simply by adding pictures and choose the skin of the layout. A lot of PHP codes, Javascript to do some complicated tasks or to make dynamic menus features can be found easily on the websites and tutorials. They give us an idea of how the job is done and save us a lot of hard work. About the inconsistency matter, the Cascading Style Sheet (CSS) is applied to enhance the flexibility and accessibility of the elements by defining the common element property seperately and concretely. These properties are specified in the style sheet, which determines the appearance of all the pages that are linked to it. The point is that these properties only need to be entered once and then they are applied automatically to all the elements, which save a lot of coding. Another remarkable advantage displays itself when it comes to managing big and sophisticated websites. CSS make it possible for the whole systems and organizations to share and reuse a small number of style sheets. Beside ensurement of consistency across the site, CSS also favors the updating and modifying of the web layouts to conform to the changes in system requirement. Instead of editting individual components, we can edit all together in one go by modifying the style sheet. 6.Use Case Model Provide the top-level use case diagram, followed by the use case description for each use case. 6.1Use Case Diagram 6.2Use Case Description 7.Glossary Define all terms and acronyms required to interpret the SRS properly. This is the (problem) domain dictionary. 8.References Provide a list of all documents and other sources of information referenced in the SRS and utilized in developing the SRS. Include for each the document number, title, date and author. |Document No. |Document Title |Date |Author | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 9.Revision History Identify changes to the SRS. |Version |Date |Name |Description | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |