Construction Incident Report of Hospital

Construction Incident Report of Hospital Introduction This report looks at incidents that have occurred on a project to extend and refurbish a cancer centre at a North-West Hospital. Assumptions With sectional completion dates, it is taken section cannot commence until the previous section has been completed (Chappell, 2011), with all the incidents relating to section 1. The contractor has issued their master programme as clause 2.9.1.2 of the contract, this programme is not contractually binding but for reference purposes only (Out-law, 2013). Incidents Overhead Cable The overhead cable diversion works do not form part of the contract (Chappell, 2014), clause 2.7.2 of the contract allows the client to undertake works not part of the contract with permission of the contractor and that permission is not to be unreasonable refused (Chappell 2014). Clause 2.27.1 requires the contractor to give notice as soon as they are aware an issue may cause delay (JCT, 2011), this allows the contract administrator to monitor the situation and insure the cable is diverted before any delay occurs (Chappell 2011). Failure to provide notice or late notice may be considered not to comply with clause 2.28.6.1 requiring the use of best endeavours to avoid delay (Chappell 2011). The client relocated the cable prior to the steel erection date thus no delay to the contract works occurred. The contract administrators response notice under clause 2.28.1 it will state that no extension of time is to be granted as no delay materialised. Access The tender information did not include the restrictions detailed in the quality manual, visiting site would not have highlighted these issues to the contractor. This omission of information is a relevant event under clause 2.29.7 as it imposes a new impediment on the contractor not included in the contract, this impediment being under the control of the client (Chappell 2014). However, clause 2.28.6.1 requires the contractor to use best endeavours to prevent delays, and clause 2.28.6.2 requires the contractor to proceed reasonably when a delay occurs (Dunn, 2011).   Knowing after the first meeting of restricted access it is reasonable that the contractor plan work so access is not required on these Thursdays, access for everyone else is still available so works can proceed (Dunn, 2011) Reduced Hours The no machine digging between 2pm and 4pm is different as this occurs every day making re-planning difficult for the contractor, the delay only relates to digging operations and no other site activities. In Amalgamated Building Contractors Ltd v. Waltham Holy Cross Urban District Council [1952] the cause of delays occurred every day, it was held that it was reasonable for the contract administratorto decide on extension of time on completion (ICE 2007). Delays associated with the other incidents are likely to mean that the adjusted completion date is not affected by this issue. Drainage Works Under clause 2.13.2 of the contract the contractor is not responsible for the employers design (Dunn, 2011), clauses 2.14.2 and 2.14.3 allow the correction of any errors in the design with corrections treated as a variation (Cartlidge, 2013). Thus, an instruction is to be issued under clause 3.10 to undertake investigation works and the alteration works being instructed under 3.10.2 requesting a quotation based on the revised design (Dunn, 2011). The investigation works should be valued as clause 5.7.1 daywork rates as the extent of the works would not have been known (Cartlidge, 2013) with the alteration works being valued as clause 5.2.2 and the accepted quotation. A variation is a relevant event under clause 2.29.1, with the drainage alterations solely in the confines of the site preventing any other works from progressing, clause 2.28.1 of the contract requires the contract administrator to issue a fair and reasonable extension of time. The completion date of section 1 should be adjusted by 5 weeks, this can be done even without notice under clause 2.27.1, London Borough of Merton v Stanley Hugh Leach Ltd. 1985 to prevent time going large (Dunn, 2011). Cladding The cladding is an undefined provisional sum, this will mean that the contractor has not allowed for these works in the price or programme (Suttie 2013).   Provisional sums require an instruction from the contract administrator to progress under clause 3.16 and an undefined provisional sum becomes a variation and relevant event under clause 2.29.1 (Brooks et al., 2011). In Walter Lilly Co Ltd v Clin [2016] the court stated that when not defined in the contract the client is responsible for providing sufficient information in time to obtain the required planning consents (Tulloch 2016), delay in issuing any instruction due to planning authorities is the responsibility of the client. When instructed, it should be based on a quotation from the contractor, the works are then valued as clause 5.2.2. The contract administrator needs to consider whether any delay to the cladding works will mean that the works go beyond the previously adjusted completion date of section 1. Cladding Programme and delay Time Weeks Date Task Complete Delay Weeks Revised Design 1 29/08/2014 Foundation works 0 Planning Decision 8 24/10/2014 2-week foundation works 0 5-week delay in steel erection 0 1-week steel erection 0 Quotation 2 7/11/2014 2-weeks steel erection 0 Material ordering 6 19/12/2014 1-week steel erection 5 Installation 4 16/01/2015 4 Total 21 9 Loss and expense Clauses 4.23 to 4.26 of the contract cover loss and expense relating to the delays (Chappell 2011). The current delay is 5 weeks for the drainage and 9 weeks for the cladding, any entitlement to loss or expense must be directly related to the actual timing of the delay (Chappell, 2011). The contractor cannot make an over exaggerated claim for loss as found in C P Haulage v Middleton (1983) the claim for any loss must be justified (RICS, 2015). The average weekly costs for the contractor during the delay were  £4,609, not all costs were non-productive as the investigation works, diversion works and cladding are valued in the contract, members of the site staff would have been carrying out both other on-site works and preparation works for future activities (Chappell, 2011). The contractor must minimise loss due to the delay this includes relocating staff and plant where possible (Chappell, 2011), evidence that relocation had not been possible is required to claim for these items as Shore v Horwitz Construction v Canada Ltd (1964) (RICS, 2015) Security  £650 Light/Power  £125 Sundries  £230 Insurances  £234 Safety Precautions  £123 Weekly Total  £1,362 14 weeks  £19,068 Actual on-site loss to the contractor following the removal of productive items or those that could be reallocate are as follows: The contractor may also claim for office overheads that they cannot divert to new projects during the extra time on-site (Lomas-Clarke, 2014). These losses can be calculated using a formula such as the Emden formula (Lomas-Clarke, 2014) as J F Finnegan v Sheffield County Council (1988) (RICS, 2015) (Overhead and Profit Percentage) 7% x (Contract Sum)  £4,000,000 (Contract Period) 52 Weeks Equals  £5,384 per week x 14-week delay =  £75,376 (Lomas-Clarke, 2014) The total loss and expense claim is  £94,444, for all loss and expense claims the contractor must provide evidence (RICS, 2015) Liquidated Damages The extension of time granted to section 1 adjusted the completion date for this section, if this adjusted date is not met by the contractor then the liquidated damages stated in the contract for section 1 can be claimed by the client (Murdoch Hughes, 1993). On completion of each section the liquidated damages no longer apply to that section going forward (Murdoch Hughes, 1993). Following completion of section 1 section 2 can commence with its original duration that is stated in the contract (Dunn, 2011) if the contractor then fails to meet the adjusted completion date for this section then liquidated damages as stated in the contract can be claimed by the client (Murdoch Hughes, 1993). Conclusion The project has suffered delays which have required adjustment of the contract completion date and allowed a loss an expense claim by the contractor. The contractor is required to proceed at a reasonable pace and if they do not complete by the adjusted completion date the client will be able to claim liquidated damages as set out in the contract.

Ethical Issues in Accounting Essay

â€Å"Accountants and the accountancy profession exist as a means of public service; the distinction which separates a profession from a mere means of livelihood is that the profession is accountable to standards of the public interest, and beyond the compensation paid by clients.† —Robert H. Montgomery, describing ethics in accounting. Accounting ethics is primarily a field of applied ethics, the study of moral values and judgments as they apply to accountancy. It is an example of professional ethics. Accounting ethics were first introduced by Luca Pacioli, and later expanded by government groups, professional organizations, and independent companies. Ethics are taught in accounting courses at higher education institutions as well as by companies training accountants and auditors. Due to the diverse range of accounting services and recent corporate collapses, attention has been drawn to ethical standards accepted within the accounting profession. These collapses have resulted in a widespread disregard for the reputation of the accounting profession. To combat the criticism and prevent fraudulent accounting, various accounting organizations and governments have developed regulations and remedies for improved ethics among the accounting profession. Importance of Ethics in Accounting The nature of the work carried out by accountants and auditors requires a high level of ethics. Shareholders, potential shareholders, and other users of the financial statements rely heavily on the yearly financial statements of a company as they can use this information to make an informed decision about investment. They rely on the opinion of the accountants who prepared the statements, as well as the auditors that verified it, to present a true and fair view of the company. Knowledge of ethics can help accountants and auditors to overcome ethical dilemmas, allowing for the right choice that, although it may not benefit the company, will benefit the public who relies on the accountant/auditor’s reporting. History Luca Pacioli, the â€Å"Father of Accounting†, wrote on accounting ethics in his first book Summa de arithmetica, geometria, proportioni, et proportionalita, published in 1494. Ethical standards have since then been developed through government groups, professional organizations, and independent companies. These various groups have led accountants to follow several codes of ethics to perform their duties in a professional work environment. Accountants must follow the code of ethics set out by the professional body of which they are a member. United States accounting societies such as the Association of Government Accountants, Institute of Internal Auditors, and the National Association of Accountants all have codes of ethics, and many accountants are members of one or more of these societies. In 1887, the American Association of Public Accountants (AAPA) was created; it was the first step in developing professionalism in the United States accounting industry. By 1905, the AAPA’s first ethical codes were formulated to educate its members. During its twentieth anniversary meeting in October 1907, ethics was a major topic of the conference among its members. As a result of discussions, a list of professional ethics was incorporated into the organization’s bylaws. However, because membership to the organization was voluntary, the association could not require individuals to conform to the suggested behaviors. Other accounting organizations, such as the Illinois Institute of Accountants, also pursued discussion on the importance of ethics for the field. The AAPA was renamed several times throughout its history, before becoming the American Institute of Certified Public Accountants (AICPA) as its named today. The AICPA developed five divisions of ethical principles that its members should follow: â€Å"independence, integrity, and objectivity†; â€Å"competence and technical standards†; â€Å"responsibilities to clients†; â€Å"responsibilities to colleagues†; as well as â€Å"other responsibilities and practices†. Each of these divisions provided guidelines on how a Certified Public Accountant (CPA) should act as a professional. Failure to comply with the guidelines could have caused an accountant to be barred from practicing. When developing the ethical principles, the AICPA also considered how the profession would be viewed by those outside of the accounting industry. Teaching Ethics Universities began teaching business ethics in the 1980s. Courses on this subject have grown significantly in the last couple of decades. Teaching accountants about ethics can involve role playing, lectures, case studies, guest lectures, as well as other mediums. Recent studies indicate that nearly all accounting textbooks touch on ethics in some way. In 1993, the first United States center that focused on the study of ethics in the accounting profession opened at State University of New York at Binghamton. Starting in 1999, several U.S. states began requiring ethics classes prior to taking the CPA exam. Seven goals of accounting ethics education †¢ Relate accounting education to moral issues. †¢ Recognize issues in accounting that have ethical implications. †¢ Develop â€Å"a sense of moral obligation† or responsibility. †¢ Develop the abilities needed to deal with ethical conflicts or dilemmas. †¢ Learn to deal with the uncertainties of the accounting profession. †¢ â€Å"Set the stage for† a change in ethical behavior. †¢ Appreciate and understand the history and composition of all aspects of accounting ethics and their relationship to the general field of ethics. —Stephen E. Loeb In 1988, Stephen E. Loeb proposed that accounting ethics education should include seven goals (adapted from a list by Daniel Callahan). To implement these goals, he pointed out that accounting ethics could be taught throughout accounting curriculum or in an individual class tailored to the subject. Requiring it be taught throughout the curriculum would necessitate all accounting teachers to have knowledge on the subject (which may require training). A single course has issues as to where to include the course in a student’s education (for example, before preliminary accounting classes or near the end of a student’s degree requirements), whether there is enough material to cover in a semester class, and whether most universities have room in a four-year curriculum for a single class on the subject. There has been debate on whether ethics should be taught in a university setting. Supporters point out that ethics are important to the profession, and should be taught to accountants entering the field.[18] In addition, the education would help to reinforce students’ ethical values and inspire them to prevent others from making unethical decisions. Critics argue that an individual is ethical or not, and that teaching an ethics course would serve no purpose. Despite opposition, instruction on accounting ethics by universities and conferences, has been encouraged by professional organizations and accounting firms. The Accounting Education Change Commission (AECC) has called for students to â€Å"know and understand the ethics of the profession and be able to make value-based judgments.† Phillip G. Cottel argued that in order to uphold strong ethics, an accountant â€Å"must have a strong sense of values, the ability to reflect on a situation to determine the ethical implications, and a commitment to the well-being of others.† Iris Stuart recommends an ethics model consisting of four steps: the accountant must recognize that an ethical dilemma is occurring; identify the parties that would be interested in the outcome of the dilemma; determine alternatives and evaluate its effect on each alternative on the interested parties; and then select the best alternative. Accounting Scandals Accounting ethics has been deemed difficult to control as accountants and auditors must consider the interest of the public (which relies on the information gathered in audits) while ensuring that they remained employed by the company they are auditing. They must consider how to best apply accounting standards even when faced with issues that could cause a company to face a significant loss or even be discontinued. Due to several accounting scandals within the profession, critics of accountants have stated that when asked by a client â€Å"what does two plus two equal?† the accountant would be likely to respond â€Å"what would you like it to be?† This thought process along with other criticisms of the profession’s issues with conflict of interest, have led to various increased standards of professionalism while stressing ethics in the work environment. The role of accountants is critical to society. Accountants serve as financial reporters and intermediaries in the capital markets and owe their primary obligation to the public interest. The information they provide is crucial in aiding managers, investors and others in making critical economic decisions. Accordingly, ethical improprieties by accountants can be detrimental to society, resulting in distrust by the public and disruption of efficient capital market operations. â€Å"Every company in the country is fiddling its profits. Every set of published accounts is based on books which have been gently cooked or completely roasted. The figures which are fed twice a year to the investing public have all been changed in order to protect the guilty. It is the biggest con trick since the Trojan horse. †¦ In fact this deception is all in perfectly good taste. It is totally legitimate. It is creative accounting.† —Ian Griffiths in 1986, describing creative accounting From the 1980s to the present there have been multiple accounting scandals that were widely reported on by the media and resulted in fraud charges, bankruptcy protection requests, and the closure of companies and accounting firms. The scandals were the result of creative accounting, misleading financial analysis, as well as bribery. Various companies had issues with fraudulent accounting practices, including Nugan Hand Bank, Phar-Mor, WorldCom, and AIG. One of the most widely-reported violation of accounting ethics involved Enron, a multinational company, that for several years had not shown a true or fair view of their financial statements. Their auditor Arthur Andersen, an accounting firm considered one of the â€Å"Big Five†, signed off on the validity of the accounts despite the inaccuracies in the financial statements. When the unethical activities were reported, not only did Enron dissolve but Arthur Andersen also went out of business. Enron’s shareholders lost $25 billion as a result of the company’s bankruptcy. Although only a fraction of Arthur Anderson’s employees were involved with the scandal, the closure of the firm resulted in the loss of 85,000 jobs. Causes Fraudulent accounting can arise from a variety of issues. These problems usually come to light eventually and could ruin not only the company but also the auditors for not discovering or revealing the misstatements. Several studies have proposed that a firm’s corporate culture as well as the values it stresses may negatively alter an accountant’s behavior. This environment could contribute to the degradation of ethical values that were learned from universities. Until 1977, ethics rules prevented accounting and auditing firms from advertising to clients. When the rules were lifted, spending by the largest CPA firms on advertisements rose from US$4 million in the 1980s to more than $100 million in the 2000s. Critics claimed that, by allowing the firms to advertise, the business side overstepped the professional side of the profession, which led to a conflict of interest. This focus allowed for occurrences of fraud, and caused the firms, according to Arthur Bowman, â€Å"†¦ to offer services that made them more consultants and business advisers than auditors.† As accounting firms became less interested in the lower-paying audits due to more focus on higher earning services such as consulting, problems arose. This disregard for the lack of time spent on audits resulted in a lack of attention to catching creative and fraudulent accounting. A 2007 article in Managerial Auditing Journal determined the top nine factors that contributed to ethical failures for accountants based on a survey of 66 members of the International Federation of Accountants. The factors include (in order of most significant): â€Å"self-interest, failure to maintain objectivity and independence, inappropriate professional judgment, lack of ethical sensitivity, improper leadership and ill-culture, failure to withstand advocacy threats, lack of competence, lack of organizational and peer support, and lack of professional body support.† The main factor, self-interest, is the motivation by an accountant to act in his/her best interest or when facing a conflict of interest. For example, if an auditor has an issue with an account he/she is auditing, but is receiving financial incentives to ignore these issues, the auditor may act unethically. Principles- vs. rules-based â€Å"When people need a doctor, or a lawyer, or a certified public accountant, they seek someone whom they can trust to do a good job — not for himself, but for them. They have to trust him, since they cannot appraise the quality of his ‘product’. To trust him they must believe that he is competent, and that his primary motive is to help them.† —John L. Carey, describing ethics in accounting The International Financial Reporting Standards (IFRS) are standards and interpretations developed by the International Accounting Standards Board, which are principle-based. IFRS are used by over 115 countries including the European Union, Australia, and Hong Kong. The United States Generally Accepted Accounting Principles (GAAP), the standard framework of guidelines for financial accounting, is largely rule-based. Critics have stated that the rules-based GAAP is partly responsible for the number of scandals that the United States has suffered. The principles-based approach to monitoring requires more professional judgment than the rules-based approach. There are many stakeholders in many countries such as The United States who report several concerns in the usage of rules-based accounting. According to recent studies, many believe that the principles-based approach in financial reporting would not only improve but would also support an auditor upon dealing with client’s pressure. As a result, financial reports could be viewed with fairness and transparency. When the U.S. switched to International accounting standards, they are composed that this would bring change. However, as a new chairperson of the SEC takes over the system, the transition brings a stronger review about the pros and cons of rules- based accounting. While the move towards international standards progresses, there are small amount of research that examines the effect of principle- based standards in an auditor’s decision- making process. According to 114 auditing experts, most are willing to allow clients to manage their net income based on rules- ba sed standards. These results offers insight to the SEC, IASB and FASB in weighing the arguments in the debate of principles- vs. rules based- accounting. IFRS is based on â€Å"understandability, relevance, materiality, reliability, and comparability†. Since IFRS has not been adopted by all countries, these practices do not make the international standards viable in the world domain. In particular, the United States has not yet conformed and still uses GAAP which makes comparing principles and rules difficult. In August 2008, the Securities and Exchange Commission (SEC) proposed that the United States switch from GAAP to IFRS, starting in 2014. Responses to scandals Since the major accounting scandals, new reforms, regulations, and calls for increased higher education have been introduced to combat the dangers of unethical behavior. By educating accountants on ethics before entering the workforce, such as through higher education or initial training at companies, it is believed it will help to improve the credibility of the accounting profession. Companies and accounting organizations have expanded their assistance with educators by providing education materials to assist professors in educating students. New regulations in response to the scandals include the Corporate Law Economic Reform Program Act 2004 in Australia as well as the Sarbanes-Oxley Act of 2002, developed by the United States. Sarbanes-Oxley limits the level of work which can be carried out by accounting firms. In addition, the Act put a limit on the fee which a firm can receive from one client as a percentage of their total fees. This ensures that companies are not wholly reliant on one firm for its income, in the hope that they do not need to act unethically to keep a steady income. The act also protects whistleblowers and requires senior management in public companies to sign off on the accuracy of its company’s accounting records. In 2002, the five members of the Public Oversight Board (POB), which oversaw ethics within the accounting profession, resigned after critics deemed the board ineffective and the SEC proposed developing a new panel, the Public Company Accounting Oversight Board (PCAOB). The PCAOB wa s developed through the Act, and replaced the POB. In 2003, the International Federation of Accountants (IFAC) released a report entitled Rebuilding Public Confidence in Financial Reporting: An International Perspective. By studying the international company collapses as a result of accounting issues, it determined areas for improvement within organizations as well as recommendations for companies to develop more effective ethics codes. The report also recommended that companies pursue options that would improve training and support so accountants could better handle ethical dilemmas. A collaborative effort by members of the international financial regulatory community led by Michel Prada, Chairman of the French Financial Markets Authority, resulting in establishment of the Public Interest Oversight Board (PIOB) on 1 March 2005. The PIOB provides oversight of the IFAC standards-setting boards: the International Auditing and Assurance Standards Board (IAASB), the International Accounting Education Standards Board (IAESB) and the Inter national Ethics Standards Board for Accountants(IESBA). The most recent reform came into effect in July 2010 when President Obama signed â€Å"The Dodd-Frank Wall Street Reform and Consumer Protection Act†. The act covers a broad range of changes. The highlights of the legislation are consumer protections with authority and independence, ends too big to fail bail outs, advance warning system, transparency and accountability for exotic instruments, executive compensation and corporate governance, protects investors, and enforces regulations on the books. The legislation also resulted in the Office of the Whistleblower, which was established to administer the SEC’s whistleblower program. Congress authorized the SEC to provide monetary awards to whistleblowers who come forward with information that results in a minimum of a $1,000,000 sanction. The rewards are between 10% and 30% of the dollar amount collected. Whistleblowers help identify fraud and other unethical behaviors early on. The result is less harm to investors, quick ly holding offenders responsible, and to maintain the integrity of the U.S. markets.

Famous Entrepreneur - Conrad Hilton and J Willard Marriott Biography

Abstract The journey to being enterprising is not easy. It involves a lot of effort from the entrepreneur  (Justin). This report focuses on two entrepreneurs in the same industry. It investigates their background of each of the entrepreneurs so as to be able to determine the success factors in their life. Besides, it gives a comparison and a contrast of these entrepreneurs and above all the obstacles that they had to overcome before achieving their success. Main Text Willard Marriott John Willard Marriott the founder of the Marriott Corporation was an entrepreneur in the hospitality industry. He is an American born who was raised like a devout Mormon. His interest in the hospitality industry started when he passed in the Washington D.C. and was impressed on how a cart pusher managed to sell his soft drinks and ice-cream. In 1927, he franchised rights for AW Root Beer for Washington D.C and Richmond in the Virginia. This was a key towards his success in the sector. On 20th May 1927, he partnered with Hugh Colton and together they did set up a root beer stand in the Washington. The cold weather saw the addition of Mexican food to the stand which in turn led to the renaming of the stand to â€Å"The Hot Shoppe†. Later on in the year 1929 the business was incorporated. The Second World War saw further expansion of the business to incorporate the management of food services in the government buildings such as the U.S. Treasury. The 1953 saw the involvement of the business in the Hotel Industry by opening the first Marriott hotel. In 1967, the business became Marriot Inc. with mergers in the 1968 and widening of the consumer base to schools and colleges. Up to and including his death in 1985 the Marriott Corporation had operated 143 hotels and 1400 restaurants and had made annual revenues of approximately $4.5million. It had 154,600 employees and had amorphously invested in other business ventures such as the shipping sector of the transport industry  (Mike). Conrad Hilton He is the founder of the Hilton Hotels chain. He was born in Mexico by a Norwegian father and a devout Roman Catholic mother. He schooled in the former New Mexico Military institute and served in the U.S army in the First World War. His entrepreneurial skills came up when he was working at his fathers store in the New Mexico. He went further to buy his first Hotel (Mobley hotel) in Texas. In the 1925, he built his first hotel the â€Å"Dallas Hilton followed by the Abilene Hilton in the 1927, the Waco Hilton of 1928 and then the El Paso Hilton of 1930.The great depression saw the fall of the Hilton business where he lost several hotels to bankruptcy. Later on, in 1948 he formed the Hilton International Company. In the1950s and 1960s, the expansion of the Hilton hotels facilitated American tourism as well as oversees business by the American Firms. In addition, it promulgated certain world wide standard for the hotels accommodation. This was the world’s first chain of Hotels. All in all, Hilton finally owned 188 hotels in the US and 54 hotels abroad. He also purchased and merged with other firms like the Carte Blanche Credit Company. He has received many honorary degrees among many other achievements  (Robert). Both Conrad Hilton and Willard are entrepreneurs who invested in the Hotel and hospitality industry. Though they are both from Shaky backgrounds, they were able to shine in the hospitality and hotel industries.   Both were raised in Christian families where Conrad’s Mother was a catholic and Willard was raised like a devout Mormon. The success of both is based on the spirited hard work they put up in ensuring that they reached the success of their businesses. Both were educated, and in their journey towards success, they had to partner with one for survival whether as copartner like Hugh Colton for Willard or by acquisition of existing company like the Carte Blanche Credit Company for the Hiltons case  (Mike). However, major differences exists between theses two entrepreneurs. Hilton Conrad did not partner with anyone in his journey to success whereas, Willard Marriot partnered with the Hugh Colton. In addition, the entrepreneurial culture in these two people developed from different places. Conrad developed the need while working in his fathers store but, Willard had not worked in any business but developed from the cart peddler. Willard Marriott invested in different other businesses like the Cargo ships and others whereas Conrad Hilton invested in only one form of business: hotel business  (Robert). The Journey to their success was not void of obstacles. In achieving his dreams, Hilton was hit by the great depression that led to the closure of many of his Hotels. This was a substantial drawback in his work. Another major drawback in achieving his success like all entrepreneurs was capital. For many entrepreneurs getting of capital is hard enough and may even force one to shatter his dreams  (Justin). On the other hand, Marriot had to fight with cancer. This gave his business a different twist of life but later on he survived and propelled the business well.   Besides like many other entrepreneurs, Marriott was subjected to the hard market times and a stiffly competitive market. This is a major obstacle to almost every and each entrepreneur  (Mark). Conclusion These two are perfect examples of entrepreneurs. They were self motivated in striving to achieve their goals. This is because, as an entrepreneur, one can neither afford the luxury of a boss nor the bureaucracy to tell you what is to be done. Everything is squarely on ones shoulders from the finding of the source of capital, to the development of the product and so on. These two shows that, for success in an enterprise, one must be a self starter, and above all self confident  (Justin). For anyone to succeed as an entrepreneur, one must be innovative and also dedicated so as to be able to devise smart business strategies and put them to reality. These are some of the key factors possessed by these two men. They were highly dedicated to their work. Though much novelty is not seen in the types of businesses they did set up, creativity was employed well by these two  (Mike). Sales and marketing skills are indispensable whenever one decides to set up your own business. This is because any new business must seek to acquire customers. For one to begin to think how to get to target audience, these skills are vital. These are the same skills that these two entrepreneurs possessed for success in their businesses. The financial know how skills are also of significant help to any entrepreneur. This is because; an entrepreneur is in the business to make money. This is thus the ability to handle money well. It entails having the knowledge on how to use the limited capital base to propel the business to success. This is as shown by Hilton during the great depression  (Justin). Time management is vital for any business entity to survive. This is especially so if one is running a one person entity. He or she has to multi-task in different departments of the firm. This is an essential quality to an entrepreneur. Finally, administration skills are crucial to entrepreneurs. This is because, in most cases, they lack capital to employ administrators and thus this will be left for them. Stating up a business is not an easy ride even when one has a solid background and possesses the skills above. However, having these elementary skills will lessen the pain of the start up process. This write up focuses on the two entrepreneurs and their roads to success  (Robert). References Justin, G. Small Business Management: Launching and Growing Entrepreneurial Ventures. New York: Cengage Learning, 2009. Mark, C. The Entrepreneur: an economic theory. London: Edward Elgar Piblishing, 2003. Mike, H. The entrepreneurs creed: the principles passions of 20 successful entrepreneurs. New York: Armour Publishing Pte Ltd, 2001. Robert, F. The Entrepreneur Entrepreneurship cycle. Amsterdam: Uitgeverji Van Gorcum, 2008.

Analysis Of Devin Copeland V. Justin Bieber - 1529 Words

â€Å"Somebody to Love†: Devin Copeland v. Justin Bieber As an artist, the protection of all intellectual property created for distribution should be a priority. The type of protection this case focuses on is the protection granted by copyright. When a piece of work is copyrighted, the copyright grants the creator the exclusive right to use and distribute the piece for the duration of their life plus 70 years. As a creator, copyrighting completed art before disclosing the art with any other interests is very beneficial when proving ownership in a federal court proceeding. Devin Copeland v. Justin Bieber is a case that is based around the copyrights to a song entitled â€Å"Somebody to Love†. The facts will be introduced, followed by the issues that arose in court, then the courts analysis of those issues, closing with the lessons learned to be applied to the future of Planet Florida Artist Managements business ventures. Devin Copeland was an aspiring artist who had a dream of getting a record deal. In 2008, Copeland finished work on an album, which he registered for copyright later the same year. â€Å"The next year, Copeland says he met with representatives from Sangreel Media and they were interested in promoting some of the songs from the album which included ‘Somebody to Love’† (Mackinley, 2015). Sangreel Media then sent a promotional copy of the CD to several artists in their network, including Usher Raymond. Usher’s manager contacted Copeland about going on tour with Usher. The